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Cash Swap, Withdrawal Limit Policies Must Be Revised, CNG Insists

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The Coalition of Northern Groups has restated its demand for the immediate reversal of the cash withdrawal limit policy of the Central Bank of Nigeria and the time set for the exchange of old naira notes.

The group said Nigerians should no longer be expected to continue to tolerate the high handedness of the Governor of the CBN, Godwin Emefiele that is already pushing the nation to the brinks.

A statement by CNG Spokesperson, Abdul-Azeez Suleiman described the insistence of the CBN Governor on a short deadline for the naira swap and limit for cash withdrawal as insensitive, irrational, unthoughtful and a clear recipe for disaster.

“The CNG finds it curious that an individual appointee of government would assume such arrogant lager than life status to push harsh difficult conditions on an entire nation just to achieve his personal desires.

“It is important for Emefiele to begin to accept the reality that no one owns Nigeria and Nigerians and that the nation is angry and would not be expected to tolerate, accommodate or condone destructive actions by officials who choose to play God,” Suleiman said.

CNG warned that there is already a raging national anger over the mass sufferings brought about by the new regime of economic policies that are clearly not working.

Already, confusion has set in, millions of households are going hungry, businesses are closing down with palpable anger mounting all across the country.

“It is the peak of official impunity to insist on the imposition of and implementing a financial policy in an unstable economic environment that lacks the necessary infrastructure to operate it.

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“Based on this, the CNG hereby categorically rejects in its totality any further attempt to throw the nation into confusion by a single individual’ rigidity, whoever that individual may be. “We condemn with all our might the suspicious rigid desperation by Emefiele to implement these policies without ensuring the intensification of public enlightenment about the cashless system so that everybody will be acquainted with the system, since there is a high rate of illiteracy.

“We reject these ignoble policies sought to be imposed on Nigerians without government providing uninterrupted power supply and adequate communication link. ‘The imposition of these policies without addressing the issue of network failure is also suspicious, smacks of a hinden agenda and therefore unacceptable,” the statement said.

“Finally, the CNG holds that it is unacceptable for a single individual to be allowed to hold the entire nation to ransom in the pursuit of his personal political agenda having lost the bid to contest the presidency.

“And for the avoidance of doubt the CNG may be left with no option than to join the calls for a nationwide sustained protest if the CBN fails to make the new naira notes available and readily accessible,” the Group said.

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Another Explosion Hits Oil Facility In Rivers, Protesters Block East-West Road

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Another explosion occurred at a pipeline manifold in the Omwawriwa area of Ogba-Egbema-Ndoni Local Government Area of Rivers State on Tuesday.

This incident follows a similar explosion that shook the Trans Niger Pipeline, operated by Shell, in Bodo, Gokana Local Government Area just hours earlier.

The latest explosion reportedly took place at a manifold connected to a federal pipeline deep within the forest, which transports crude oil to Brass in Bayelsa State.

While the explosion has not yet been officially confirmed, community sources reported seeing massive flames and thick smoke rising from the oil installation in the forest.

Grace Iringe-Koko, the spokesperson for the Rivers State Police Command, stated that she would investigate the incident but had not provided a response at the time of this report.

A video obtained by our correspondent displays a large fire burning in a remote location.

In a separate development, Ijaw youths blocked the Ahoada section of the East-West Road leading to Bayelsa State on Tuesday in protest.

The demonstrators, numbering over 100, carried placards in solidarity with Rivers State Governor Siminalayi Fubara amid his political dispute with the state House of Assembly. Some of the placards read: “We demand Wike’s dismissal as FCT Minister” and “Martin Amaewhule and 26 lawmakers have defected and lost their seats.

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BREAKING: Reps pass tax reform bills

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The House of Representatives on Tuesday passed the four tax reform bills transmitted to the National Assembly in October 2024 by President Bola Tinubu.

Recall that the House had on Thursday last week, considered and approved the report of the House Committee on Finance which made some recommendations, particularly in controversial areas such as the Value Added Tax and inheritance tax.

While awaiting the Senate to similarly pass the bills, the proposed reforms are expected to be transmitted to the President for his assent in the days ahead.

Details shortly…

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Two PDP reps defect to APC over ‘internal divisions’

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Two members of the house of representatives have defected from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC).

Tajudeen Abbas, speaker of the house, announced the defections in a letter read on the floor of the lower legislative chamber on Tuesday.

More to follow…

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