₦airaland Forum

Nigerian governors invite Emefiele over naira redesign, cash withdrawal policy
The NGF said the discussion with Mr Emefiele on Thursday promises to foster participation and dialogue between various stakeholders including governments and civil society organisations.


The Nigerian Governors’ Forum (NGF) has invited the Governor of the Central Bank of Nigeria, Godwin Emefiele, to a virtual meeting.

The meeting, which is scheduled to hold virtually on Thursday, has on its agenda, the naira redesign as well as CBN’s new policy on cash withdrawal.

This was contained in a statement by the Forum’s Head of Media and Public Affairs, Abdulrazaque Bello-Barkindo, on Tuesday night.

According to the statement, the invitation to the CBN Governor was issued by Aminu Tambuwal, chairman of the Forum and governor of Sokoto.

For the virtual meeting, the agenda is titled “The Economic and Security implications of naira redesign and withdrawal policy.”

The NGF also said the discussion promises to foster participation and dialogue between various stakeholders including governments and civil society organisations “to come out with a solution to the lingering issue.”

The invitation comes months after the apex bank announced plans to redesign the 100, 200, 500 and 1,000 notes which are already in circulation. The CBN has said the old notes will go out of circulation by the end of January.

The move, Mr Emefiele said, is aimed at having control of the currency in circulation, managing inflation, and tackling counterfeiting.

In November, the CBN also announced a limit on cash withdrawals made by individuals and organisations with effect from January 9, 2023.

The bank directed that over-the-counter cash withdrawals by individuals and corporate entities do not exceed N100, 000 and N500,000, respectively, per week. It also directed that only N200 and lower denominations should be loaded into banks’ ATM machines.

The CBN said the maximum cash withdrawal per week via ATM should be N100,000 subject to a maximum of N20,000 cash withdrawal per day.

The policy generated mixed reactions among Nigerians. While some described the new policy as politically motivated, others lamented that the timeline was short.

In December, the Nigerian Senate asked the apex bank to “considerably adjust the withdrawal limits” in response to public outcry on the policy.

dikysmith:
A Federal High Court in Abuja has summoned the Governor of the Central Bank of Nigeria, Godwin Emefiele, over a $53 million judgment debt arising from the Paris Club refund.

In an application for garnishee made on October 20, 2022, Justice Inyang Ekwo, ordered Emefiele to appear on Wednesday, January 18 as the hearing date for the matter.

Prior, on January 23, 2020, the court ruled that Emefiele must appear “to be examined on oath touching the means you have or have had, since the date of the said garnishee order absolute, to pay the balance of $53 million now due and payable under the said garnishee order absolute and also show cause why you should not be committed to prison for default in payment of the said sum.”

The order followed the application by a Senior Advocate of Nigeria, Joe Agi, against Linas International Ltd, the Minister of Finance and the CBN through his lawyers, Isaac Ekpa and Chinonso Obasi.

The applicants were seeking an order directing the Inspector General of Police to arrest Emefiele and bring him to court alongside his lawyers – Damian Dodo, Audu Anuga, all Senior Advocates of Nigeria, and Ginika Ezeoke, Jessica Iyoke, Abdullahi Afolayan and Olayemi Afolayan.

The suit stemmed from an alleged $70 million judgment against Linas over the lawyer’s services in the Paris Club refund.

The CBN governor was said to have left an outstanding amount of $53 million having only released $17 million.

MORE

https://supers.ng/court-summons-emefiele-over-53m-paris-club-debt/

Aonkuuse:
These evil people are fighting back

FiremanX:
As everybody done Sabi say na olosho she be, na that her small pikin I pity, that's why it's not good for single mom to raise their kids, she's already setting a bad example.

Kobojunkie:
They are not witches and wizards. They are human beings like you with no special powers, and so any fear you have of them is born of ignorance.

Dshocker:
There is nothing like witches.....

Xinpio:
Just curious..about it
Is there anything special in those bad boys

TheChameleon:
So.... you think a killer went to the trouble of staging his murder ?

You guys watch CSI too much.

There is no fingerprint database. If you commit murder with your fingerprints all over... nothing will happen

Candidlady:
the second picture looks like some photoshoot stuff


the way he rested on the tree


men are really suffering but their ego or redpill movement won't let em tell a lady their problems...


their motto: irather kill myself than beg an evening newspaper lol

no rip for em

Pakute:
No amount of military protection can stop DSS from arresting him except Presidential directive asking DSS back down. Buhari that i know would not hesitate, if he was convinced by a counter argument that Emefiele took advantage of his authorization for manipulative purposes and self greed, would order DSS to lock him up with Nnamdi Cownu in the deepest part of kuje prison.
To be honest, you don't stop the circulation of old notes in a month or two months, it's more harmful than helpful. The UK had put out a sample of King Charles's new coin but wouldn't be in circulation until 2024, while old coin is fazed out gradually. That's how you run an economy.

Felabrity:
even Obi collect well but urchins won't bother to read, once they see the headline

The next thing is to attack the writer