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Breaking:Old Notes Remain Legal Tender Till December 2023-Supreme Court

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The Supreme Court has delivered its judgment in a suit brought against the Federal Government over the naira redesign policy.

In passing its judgment on Friday, the apex court ruled that the old notes – N200, N500 and N1000 – remain legal tender till 31st December, 2023.

The Supreme Court ordered the circulation of the old naira notes alongside the new ones until December 31.

In a unanimous judgment, a seven-member panel of justices presided by Justice Inyang Okoro, held that the directive by President Muhammadu Buhari to the Central Bank of Nigeria (CBN) for the redesigning and withdrawal of old notes of N200, N500 and N1000, without consultation with the states, the Federal Executive Council and the National Council of State, was unconstitutional.

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The apex court observed that no reasonable notice was given before the implementation of the policy as provided under the CBN Act.

The lead judgment read by Justice Emmanuel Agim also dismissed the preliminary objection by the federal government challenging the jurisdiction of the apex court to hear the suits by the 16 states challenging the currency policy.

The panel held that the CBN, being an agent of the federal government, need not be joined as a party in the matter.

Recall that, sixteen states of the Federation instituted the suit to challenge the legality or otherwise of the introduction of the policy.

The suit initially instituted by Kaduna, Kogi, and Zamfara states has been slated as the first case on the cause list for a final verdict.

Justice John Inyang Okoro, who led a seven-person panel of Justices of the Court, had on February 22 fixed today for the court to make its decision known on the suit.

The 16 states led by Kaduna, Kogi, and Zamfara are praying the apex court to void and set aside the policy on the ground that it is inflicting hardships on innocent Nigerians.

They accused President Muhammadu Buhari of usurping the function of the Central Bank of Nigeria (CBN) in the introduction and implementation of the policy and asked that the directive issued by Buhari be voided.

On its part, the Federal Government challenged the jurisdiction of the Apex Court on the grounds that the CBN was not joined as a party and that the dispute over the policy ought to be directed at the CBN so that the suit could be referred to the Federal High Court.

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NNPC Ltd Clarifies Lagos Depot Fire Incident

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The Nigerian National Petroleum Company Limited (NNPC Ltd) wishes to clarify that the fire incident at a tank farm in Marine Beach, Apapa, Lagos, was at a depot belonging to HOGL Energy Ltd (Honeywell Depot), and not an NNPC Retail Ltd.’s facility as circulated by early responders.

The fire, which has since been extinguished, was as a result of petroleum products spillage within the perimeter of the tank farm.

Meanwhile, NNPC Ltd and other depots in the area have resumed loading activities.
NNPC assures that the incident will, in no way, affect petroleum products supply and distribution across the country.

This was contained in a statement signed by Chief Corporate Communications Officer NNPC Ltd Olufemi O Soneye in
Abuja

 

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Frontfoot Media to host its 5th Media Audit Reporting workshop in Gombe

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By Asile Abel,Jos

FrontFoot Media Initiative has concluded plans to hold the fifth edition of its Audit Reporting Training programme for journalists to be hosted in Gombe State.

Statement by the Front Foot Media Initiative Training Coordinator Mr Chido Nwakanma said previous trainings were held in Benin, Awka, Abuja, and Lagos state.

He added that, FrontFoot Media Initiative will hold the training under the auspices of the Wole Soyinka Centre for Investigative Journalism and the sponsorship of the MacArthur Foundation.

Mr Emeka Izeze, a director of FrontFoot Media, said “The Gombe programme will feature participants not only from Gombe but also from the neighbouring states of Adamawa, Bauchi, Plateau, and Taraba, a testament to the inclusivity and reach of Front Foot’s training initiatives. We look forward to training about 40 media personnel, each of whom plays a crucial role in our media landscape.”

Adding to the statement, Gombe State Governor, Muhammed Inuwa Yahaya would address participants in line with his agenda of openness and accountability.

Frontfoot Media Initiative also announced that Mr Ismaila Zakari, a past President of the Institute of Chartered Accountants of Nigeria, an Internal Auditor of Premium Pensions Abuja, and an ICAN Fellow, will lead the training supported by Mr Yusuf Doma, a Fellow of ICAN and Internal Auditor at Premium Pensions Abuja. Their expertise and guidance will ensure a high-quality learning experience for all participants.

The media and capacity building NGO described the programme as “a flagship capacity development programme of FrontFoot Media Initiative. It is a Collaborative Media Engagement for Development Inclusivity and Accountability project.

“In this effort, FrontFoot teams, accompanied by experts in the field, work in pre-selected states where they conduct free training for journalists. Participants learn how and where to locate the relevant reports, interpret the material, and write engaging news stories and features that enlighten, stimulate, and empower the electorate, and discourage impunity.” the statement added.

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Babangida’s Military Contemporary, Lt. General Garba Duba, Passes On at 82

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A military contemporary of Nigeria’s former military President, Lieutenant General Garba Duba, has died.

General Garba Duba died at the age of 82. A native of Kontagora, Niger State, Duba held several positions during his military career, including serving as Governor of Bauchi State in 1978 and as Governor of Sokoto State during Buhari’s regime.

An impeccable source told NIGERIAN TRACKER that the funeral prayer for the late Duba was held today, Friday, after Jumuat prayer at the National Mosque in Abuja.

Governor Muhammad Umar Bago of Niger State and legislators from the state attended the funeral prayer.

He joined the army as a Cadet Officer at the Nigerian Military Training College Zaria in 1962, presumably a course mate of Ibrahim Babangida. At the beginning of his career, he was at the Indian Military Academy. Duba was one of the northern officers who participated in the Nigerian counter-coup of 1966 which led to the death of General Johnson Aguiyi-Ironsi. During the Nigeria Civil War, he was a Captain, commanding a squadron of armored vehicles. As military governor of Bauchi state, he provided infrastructure in the form of residential accommodation and offices, including secretariats for the newly-created 16 local government areas.

In 1993, he retired from the military and went into private businesses where he held positions like chairman, New Nigerian Development Company (NNDC), chairman of SGI Nigeria Limited, director in First Bank of Nigeria, non-executive director of Honeywell Flour Mills Plc and chairman of the board of Leadway pension fund.

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