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EFCC Arraigns Man For Refusing To Accept Naira As Legal Tender

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On Wednesday, the Economic and Financial Crimes Commission, Lagos Zonal Directorate, arraigned Precious Uzondu on a two-count charge related to his alleged refusal to accept the Naira as legal tender.

This was made known in a statement on Tuesday on the Commissions X (formerly Twitter) account.

According to the charge, Uzondu refused to accept Naira, Nigeria’s official currency, as a means of payment. Instead, he allegedly received $5,700 (Five Thousand Seven Hundred U.S. Dollars) as payment for purchasing a Carter diamond bracelet with serial number 12345678. His actions violated Section 20 of the Central Bank of Nigeria Act, 2007.

The statement said, “The Lagos Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on Wednesday, February 5, 2025, arraigned one Precious Chimaobi Uzondu on a two-count charge bordering on alleged refusal to accept Naira as a legal tender before Justice A.O. Owoeye of the Federal High Court sitting in Ikoyi, Lagos.

December 2024, in Lagos, within the jurisdiction of this Honourable Court, refused to accept Naira (Nigeria’s legal tender) by accepting the sum of $5700 (Five Thousand Seven Hundred USD) as a means of payment for the purchase of a Carter diamond bracelet with a serial number (12345678). You committed an offence contrary to Section 20 of the Central Bank of Nigeria Act, 2007.

“The defendant pleaded “not guilty” to the charges when they were read to him.

“Given his pleas, prosecution counsel, Hannatu U. Kofar Naisa, prayed the court for a trial date, and the defendant was remanded in a Correctional Centre.
“Counsel to the defendant, Jennifer Achinuagole, informed the court of a pending bail application and prayed the court to adopt the same as her oral application.

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“Responding, Kofar Naisa informed the court about a counter-affidavit and a written address to the application. She prayed the court would accept the same and discount the defendant’s application.

“After listening to both parties, Justice Owoeye admitted the defendant to bail in the sum of N5m, with two sureties in like sum. The sureties must own landed properties in Lagos, which the court must verify and also swear to an affidavit of means.

“The Judge also ordered the defendant’s remand in the Ikoyi Correctional Centre and adjourned till April 8, 2025 for commencement of trial.”

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Nigeria Gov’t Backs Documentary On 25 Years Of Democracy

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The federal government has pledged to support and promote the production of a documentary on Nigeria’s 25 years of uninterrupted democracy.

Minister of Information and National Orientation, Mohammed Idris gave the assurance while receiving the executive of the Inter-Party Advisory Council (IPAC) on Friday in Abuja.

He described the proposed documentary, an initiative of IPAC, as a critical chronicle of Nigeria’s democratic journey over the past 25 years.

The film aims to celebrate achievements, acknowledge challenges, and highlight democratic lessons learned in the last 25 years.

“It pleases me to acknowledge the untiring efforts of IPAC and its leadership in fostering democracy. This documentary, through the medium of film, will serve as a long-lasting historical record honouring our nation’s political heroes and showcasing our democratic credentials. To this end, the federal government, through the Federal Ministry of Information and National Orientation, is willing to support this unique documentary,” he said.

The minister also expressed his gratitude to IPAC for its dedication to democratic development and emphasised the importance of political parties working together beyond elections to foster national unity and progress.

“The government of President Bola Ahmed Tinubu supports healthy political competition, as democracy thrives on constructive opposition and national interest-driven collaboration, irrespective of party affiliations,” he said.

He further noted that sustaining democracy is a collective effort. “Political parties are the foundation of democracy. While competition during elections is natural, we must come together afterward to build our nation. President Tinubu, being a true democrat, values healthy competition but also prioritises unity and national progress.”

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In his response, the National Chairman of IPAC, Hon. Yusuf Dantalle stated that the documentary would highlight Nigeria’s advancements in infrastructure, healthcare, education, and social cohesion.

“The documentary, in addition to being a historical marker, is targeted at the younger generation, particularly Gen Z, as it will serve as an educational resource and a unifying narrative of Nigeria’s democratic evolution. It will feature some of Nollywood’s finest actors and will be produced with state-of-the-art equipment, matching global standards in quality and impact,” he said.

The IPAC delegation included its Deputy National Chairman, Dipo Olayokun; a Council Member, Chief Dan Nwayanwu; and the National Secretary of the Council, Maxwell Mabudem, among other executives.

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For 50 Years, Nigeria Spent Money Of Unborn Generations- Tinubu

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President Bola Tinubu articulated on Thursday the rationale behind his administration’s economic reforms, saying the primary motive was protecting the interests of future generations.

“For 50 years, Nigeria was spending money of generations yet unborn and servicing the West coast of our subregion with fuel. It was getting difficult to plan for our children’s future,” he said.

He made these remarks at the State House in Abuja while receiving a delegation of former National Assembly colleagues from the aborted Third Republic, during which he served as a Senator representing Lagos West.

The president highlighted the challenges faced at the beginning of his administration, especially economic and social issues, and expressed his gratitude for the delegation’s support in addressing these difficulties:

“We faced serious headwinds when I took over, very challenging times. Nigeria would have been bankrupt if we had not taken the actions that we took, and we had to prevent the economy’s collapse.

President Tinubu declared that the administration had been able to stem the tide and expressed appreciation to Nigerians for their collective support in turning things around.

“Today, we are sitting pretty on a good foundation. We have reversed the problem; the Exchange rate is stabilising. Food prices are coming down, especially during Ramadan. We will have light at the end of the tunnel.”

He said firm adherence to democratic tenets is the best route to economic, social, and political development.

“I am happy that you are holding to your belief in democracy. I thank you for keeping faith and remembering how we started. Some people missed the ball.

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“Some leadership failed, but we kept the faith with our democratic beliefs and freedom and the right to aspire to the highest office in the land. I am benefitting from it.”

Emmanuel Nwaka, who spoke on behalf of the group, expressed his delight at some of the programmes that the Tinubu administration had implemented, especially the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation (CREDICORP) and at what the two organisations were offering Nigerians.

“I appreciate you for what you are giving to students because the student population is the largest demographic in the country. I’ve spoken with many of them, and many have benefited from it.

“And the next one is the CREDICORP. That’s a major way of fighting corruption. You see a young man, you come out of school, you want to buy a car, you have to put down cash, you want to buy a house, and you are not married, but with the CREDICORP, you can get things done. I’m following their activities; we are delighted,” Mr Nwaka, a former senator, said.

Other delegation members were Bako Musa, Terwase Orbunde, Wasiu Logun, Amina Aliyu, Obi Anoliefo and Eze Nwauwa.

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Senate Passes Confidence Vote On Akpabio

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The Senate has passed a vote of confidence in its President, Senator Godswill Akpabio, reaffirming its support for his leadership amid recent controversies.
This followed the adoption of a motion sponsored by Senate Leader Opeyemi Bamidele (APC-Ekiti) and seconded by Deputy Minority Leader Olalere Oyewumi (PDP-Osun) during Thursday’s plenary.

In his motion of urgent national importance, Bamidele cited Orders 41 and 51 of the Senate Standing Rules, emphasising that Akpabio had demonstrated effective leadership since the inauguration of the 10th Senate despite the controversy surrounding allegations of sexual harassment.

Addressing concerns over Akpabio’s handling of a petition referred to the Senate Committee on Ethics, Privileges, and Public Petitions, Bamidele clarified that the matter had nothing to do with sexual harassment.

“Some critics have accused this Senate of allowing Akpabio to preside over his matter. However, the issue before us was strictly about a motion referred to the Ethics Committee,” Bamidele stated.

He urged Nigerians to recognise that the Senate operates within the framework of the law, not personal biases.

“We are guided by rules, not the whims of individuals. This is not about a group of men conspiring against a woman but ensuring our rules are respected. That is the only way we can guarantee peace, law, and order,” he added.

Bamidele further dismissed claims that the Senate lacked the authority to suspend a member, stating that legal interpretations would ultimately confirm the Senate’s position.

He urged Nigerians not to be distracted by the sexual harassment allegations, noting that the matter was already before the courts.

“While we acknowledge public concern, we remain focused on our legislative duties. There are pressing matters that require our attention for the good of the country,” he said.

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According to him, the Senate will continue to work alongside the executive to improve economic conditions and promote democratic participation.

“Our priority is to bring economic stability and development to Nigerians. We will not be sidetracked,” he affirmed.

In his response, Senate President Godswill Akpabio thanked his colleagues for their support and emphasised that the 10th Senate remains united in its commitment to national progress.

He also accused Sen. Natasha Akpoti-Uduaghan of misrepresenting her suspension at the Inter-Parliamentary Union (IPU) meeting, stating that she embarrassed the country with a misleading narrative.

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