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Government Will Eliminate Squeeze ,Chaos In Currency Swap-Buhari

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President Muhammad Buhari

 

President Muhammadu Buhari, Saturday assured that government will ensure that citizens are unharmed in their businesses and no disruption is caused to the entire supply chain arising from the currency swap due to end shortly.

Reacting to reports of long queues of people waiting for hours for their turn to deposit old notes and get new ones, triggering public anger and opposition’s criticism, President Buhari reiterated that the currency changes were aimed at people hoarding illicit funds and not the common man, and that it had become necessary to prevent counterfeits, corruption, and terrorist funding. This, he assured, will stabilize and strengthen the economy.

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While taking note that the poorest section of society is facing hardship as they often keep hard cash at home for various expenses, President Buhari gave strong assurances that the government will not leave them to their own fate.

He reiterated that a number of initiatives by the Central Bank and all commercial banks are underway to speed up distribution of the new notes and do all that is necessary to forestall cash squeeze and chaos.

Garba Shehu
Senior Special Assistant to the President
(Media & Publicity)
January 28, 2023

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News Analysis: Governor Yusuf’s Defection — What Is Kwankwaso’s Next Line of Action?

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By Yusuf Danjuma Yunusa

Kano State has recently been inundated by seismic political developments: the resignation of Governor Abba Kabir Yusuf and key cabinet members from the New Nigeria Peoples Party (NNPP), their anticipated defection to the ruling All Progressives Congress (APC), and the declaration of January 23 as ‘World Betrayal Day’ by Yusuf’s former political benefactor, Rabiu Musa Kwankwaso.

Given the profound loyalty Governor Yusuf had previously shown Kwankwaso, his recent political realignment has left many observers stunned. What is particularly striking is that Yusuf is defecting to the very opposition party against which Kwankwaso fiercely contested to install him as governor.

Political analysts note that, contrary to popular perception, politics is seldom driven by ideology. Instead, they argue it thrives on dominance, survival, and compromise—qualities repeatedly weaponized by political godfathers and their protégés for advantage. Rare exceptions, such as the relationships between Kashim Shettima and Babagana Zulum in Borno or Yahya Bello and Usman Ododo in Kogi, only underscore the rule.

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If this is the reality, would it not be unwise for Kwankwaso to simply handpick another political heir to fill the vacuum left by Yusuf? Some commentators argue it would be more strategic for the NNPP leader to elevate his focus to the national stage, rather than remain confined to a cycle of state-level politics that has proven repetitive and unyielding.

The central question remains: which path will Kwankwaso now take? Will he anoint a new successor to challenge his ‘prodigal son,’ Yusuf, in the next election? Should he align with opposition forces like the African Democratic Congress (ADC) to weaken President Bola Tinubu’s APC nationally while curtailing Yusuf’s influence in Kano? Or might he pursue a twin-track strategy, engaging on both fronts simultaneously?

Kwankwaso himself has hinted that the current realignment has forced a strategic recalculation. In a widely circulated video, he stated that recent events have made preparation for the next move imperative ahead of 2027.

“Going by what is happening in Kano today, we need to start preparing because there are people hell-bent on destroying what we built over time,” Kwankwaso said.

The coming months will reveal whether the seasoned political figure chooses retribution, reinvention, or a combination of both as his way forward.

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JUST IN: APC Denies Shake-Up of Tinubu-Shettima Ticket Amid Fears of Electoral Collapse

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By Yusuf Danjuma Yunusa

The All Progressives Congress has dismissed reports suggesting that Vice President Kashim Shettima may be replaced as President Bola Tinubu’s running mate ahead of the 2027 general elections, describing the claims as “purely speculative, untrue and utterly baseless.”

Reports have it that there is a mounting pressure on the President to review the Muslim–Muslim ticket that secured victory in the 2023 presidential election.

However, in a statement issued on Monday by its National Publicity Secretary, Felix Morka, the party said its attention had been drawn to “growing media frenzy” over an alleged plan to substitute the Vice President.

“While these stories have been mostly subtle, they recently assumed a new dimension when names of specific individuals were touted as possible replacements for Vice President Shettima,” the statement said.

The APC warned media organisations against giving space to unverified reports, urging them to avoid promoting what it described as rumours designed to cause division.

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“Our Party states in categorical terms that the stories are purely speculative, untrue and utterly baseless.

“We urge media organisations to refrain from lending their platforms to rumour-peddlers and mischievous ‘news sources’ of questionable provenance whose only intention is to promote discord and confusion in the polity,” the statement added.

The ruling party also noted that political activities remain restricted under existing laws and electoral regulations, stressing that it is not engaged in succession discussions at this time.

“Under our laws and electoral regulations, the ban on political activities remains in force,” Morka said, adding that the party is currently focused on governance.

“At this time, our Party remains focused on supporting President Tinubu and Vice President Shettima in delivering the administration’s Renewed Hope Agenda and entrenching its bold reforms that are now steadily transforming the economy, building prosperity, and uplifting the living conditions of our people,” it said.

The APC further cautioned its ministers, senior government officials and party leaders against making statements that could fuel unnecessary speculation.

“We call on our ministers, senior government and Party officials to avoid, wittingly or unwittingly, stoking needless speculations, and to focus on their primary duty of diligent service to government and our Party,” the statement added, urging them to bolster “the success and achievements of President Tinubu, our inimitable and visionary leader.”

This also comes hours after the Minister of Arts, Culture, Tourism and Creative Economy, Hannatu Musawa, warned that the ruling party risks losing key northern states in 2027 if it alters the Bola Tinubu–Kashim Shettima presidential ticket.

Musawa issued the warning during an episode of Mic On Show with journalist Seun Okinbaloye, which was published on YouTube on Sunday.

She said removing Shettima from President Bola Tinubu’s re-election ticket, or failing to retain a northern Muslim running mate, would significantly weaken the APC’s electoral chances in the core North.

“If there is no Hausa, Fulani or Kanuri Muslim on that ticket, it creates a hurdle. That is the reality of the way people think,” Musawa said.

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Kwankwaso’s Son, Mustapha, Resigns from Abba’s Cabinet Members

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By Yusuf Danjuma Yunusa

The Kano State Commissioner for Youth and Sports Development, Mustapha Rabiu Kwankwaso, has resigned his appointment and membership of the Kano State Executive Council.

Mr Kwankwaso announced his resignation in a letter made available on Monday in which he said the decision was taken with a “heavy heart,” bringing an end to his tenure in the cabinet of Governor Abba Yusuf.

In the letter, the former commissioner expressed deep appreciation to Governor Yusuf for the opportunity to serve the state, describing his time in office as rewarding and impactful.

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“I want to express my deepest gratitude to Governor Abba Kabir Yusuf for the opportunity to serve the great people of Kano State. I have cherished the experiences and lessons gained while serving, and I appreciate the trust placed in me,” he stated.

Mr Kwankwaso also offered prayers for the continued welfare of young people in the state, urging sustained attention to youth empowerment and sports development programmes.

“As I resign, I pray that the youth of Kano State will continue to receive the attention and support they deserve. I hope for the best for our sports development programmes and initiatives, and I am confident that they will flourish in the years to come,” the letter read.

He further prayed for continued peace and progress in the state, asking Allah (SWT) to bless Kano State and its people, while wishing the government success in its efforts.

Mr Kwankwaso’s resignation marks another change in the composition of the Kano State Executive Council, although no official reason was given for his decision beyond the contents of the letter.

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