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New naira: Buhari’s meeting with governors, others cancelled
7th February 2023

Buhari new naira notes
By
Stephen Angbulu
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A meeting between the President, Major General Muhammadu Buhari (retd.), and state governors earlier scheduled for Tuesday has been cancelled, The PUNCH has learned.

A senior Presidency source who spoke with our correspondent late Monday revealed that Buhari would meet the governors to discuss, among other things, the nationwide crisis trailing the Central Bank of Nigeria’s new naira policy.

The cancelled meeting comes only four days after the President met with governors elected on the platform of the All Progressives Congress after which he appealed to Nigerians to give him seven days to resolve the crisis.

Although no reasons were given for the cancellation of Tuesday’s meeting, The PUNCH learned that it was agreed that no major decision could be taken until the end of the seven-day window given by the President last Friday.

Buhari briefly met behind closed doors with the chairman of the Nigeria Governors’ Forum, Governor Aminu Tambuwal of Sokoto State; the chairman of the Progressives Governors’ Forum, Governor Abubakar Bagudu of Kebbi State; the central bank governor, Godwin Emiefele, and the chairman of the Economic and Financial Crimes Commission, AbdulRasheed Bawa.

Others present were the Secretary to the Government of the Federation, Boss Mustapha, and the President’s Chief of Staff, Prof Ibrahim Gambari.


Since the President approved an additional 10-day grace period (February 1 – 10, 2023), mixed reactions have trailed the policy which the President said is aimed at curbing money laundering, electoral malpractices, soaring inflation, amongst others.


On Monday, The PUNCH reported that Governors Nasir El-Rufai, Yahaya Bello and Bello Matawalle of Kaduna, Kogi and Zamfara states respectively, dragged the Federal Government to the Supreme Court.

The governors prayed the court to declare that the Demonetisation Policy of the Federation currently executed by the CBN under Buhari’s approval contravenes the extant provisions of the 1999 Constitution (as amended), the Central Bank of Nigeria Act (2007) and other relevant laws on the matter.

They also prayed that the court declares that the three-month notice issued by the FG and the CBN for the expiration of all old bank notes violates the provisions of Section 20(3) of the CBN Act which says reasonable notice must be given before such a policy and that the limit cannot be outside that provided under Section 22(1) of the CBN Act.

As of the time of filing this report, the Governors of Osun State, Ademola Adeleke; the Director-General of the Department of State Services, Yusuf Bichi; the Inspector-General of Police, Usman Baba; the Chief of Defence Staff, General Lucky Irabor, were spotted at the Villa premises.

Breaking News: Buhari begs Nigerians for seven days to resolve 'cash crunch' issuesX
Nigeria
Buhari begs Nigerians for seven days to resolve ‘cash crunch’ issues
By Dennis Erezi
03 February 2023 | 12:28 pm

President Muhammadu Buhari

President Muhammadu Buhari Friday urged citizens to give him seven days to resolve the cash crunch that has become a problem across the country from the policy of the Central Bank of Nigeria (CBN) to change high-value Naira notes with new ones.


Buhari said this after meeting with governors elected on the platform of the All Progressives Congress (APC) in Abuja.

He said the currency re-design will give a boost to the economy and provide long-term benefits while expressing doubts about the commitment of banks in particular to the success of the policy.

“Some banks are inefficient and only concerned about themselves”, Buhari said “even if a year is added, problems associated with selfishness and greed won’t go away.”

He said he had seen television reports about cash shortages and hardship to local businesses and ordinary people and gave assurances that the balance of seven of the 10-day extension will be used to crackdown on whatever stood in the way of successful implementation.

“I will revert to the CBN and the Minting Company. There will be a decision one way or the other in the remaining seven days of the 10-day extension,” the President assured.


The Governors told the President that, while they agreed that his decision on the renewal of currency was good and they are fully in support, its execution had been botched and their constituents were becoming increasingly upset.

They told the President that, as leaders of the government and party in their different states, they were becoming anxious about a slump in the economy and the series of elections that are coming.

They requested the President to use his powers to direct the concurrent flourish of the new and old notes till the end of the year.

Buhari said when he considered giving approval to the policy, he demanded an undertaking from the CBN that no new notes will be printed in a foreign country and they in turn gave him assurances that there was enough capacity, manpower and equipment to print the currency for local needs. He said he needed to go back to find out what was actually happening.

Buhari told the Governors that, being closer to the people, he had heard their cries and will act in a way that there will be a solution.

By this time May 29th... Wike go don become ex governor

Epistle according to Mistress Angela

We must carry you go Alausa

Deliver Osun for him first

All the G5 governors are Christian yet supporting Muslim-Muslim ticket. Think Nigerians should by now see these people as colleagues with personal interest and not allow them to divide us with religion.

This one no concern me, I just dey wonder which kind hungry catch the person wey discovered bitter -leaf soup ���

Alalanlala

Make Wike kuku contest as president under G5 political party

Dem still plenty na... Sebi dem never reach 2k

We can't even breathe again sef.... We are tired

This guy dey vex oooooooo....

Omo o mo iwe, iya e lo ni handwriting... For those that don't understand yoruba it means December 25th is Xmas

The University of Lagos will spend N1.4bn on electricity charges; ABU, N1.04bn; and UI, N60m. so Unilag will spend 117m naira monthly to electricity bill?

We don't want restructuring again, all we want good leaders

When two elephants fight... The grass suffers

If truly you love yemi osibanjo why didn’t you step down for him at APC’s primary instead of BAT.... Eye service

Do we now call queen 'mama rainbow'?

Make this one come here, make that one go there.. If you know you know

So Tinubu will win 14 states and loose woefully in other states then he will be declared as a winner abi

The guy get COVID-19? Abi which one be pass exam from home

Why then did we collect PVC... Make dem kuku announce Tinubu Tomorrow morning

When?

Make dem kuku announce Tinubu na

Since nobody is mentioning Tinubu... All this na game... The concensus is coming to South and will be osinbajo... Watch out

All these na film trick.....na osinbajo be consensus

This people no dey sleep?

Then lawan will step down for osinbajo... The northern has resolved to push the tickets to the south

Mr Kerewa.... Make you do Kerewa for there oooo

Seriously searching for the list of the 10 disqualified APC Presidential aspirants.

Oyegun, hope I am not among?