Collecting Old Naira Notes from Banks Risky – Banker Warns
There are some indications that bank customers who are accepting old N1000 and N500 notes from their banks may be doing so at their own peril.This is because such customers would not be able to deposit the same old notes in banks at the moment until the Central Bank of Nigeria (CBN) orders commercial banks to start paying and receiving the old notes.Following the ruling of the Supreme Court last week that the old notes should remain legal tender till December 31, 2023, some commercial banks have started paying customers the old notes.A bank official, who does not want to be named, confirmed to DAILY POST that some banks paid the old naira notes on Monday and Tuesday.However, he said some stopped the payment when they noticed it may trigger another crisis as it was not yet authorised by the CBN.While some paid through the Automated Teller Machines (ATM), other banks paid the old notes over the counter to customers.The bank official told DAILY POST banks will not allow any deposit in the old notes unless the CBN gives further directives, saying those who had generated CBN codes to make deposits earlier would no longer be allowed to make another deposit.“CBN hasn’t given any directive yet. But commercial banks are partially paying the old notes to customers. Though it is not compulsory for customers to collect the old notes as banks won’t take them back from customers for now.“As I speak with you, we are still on a one-off deposit once you generate the code from the CBN. So, imagine how they will deposit the cash if they’ve already deposited before,” the bank official said.On why commercial banks decided to pay the old notes when they know the CBN has not given the order to do so, the source explained that banks are aware of the lack of cash in the economy, saying most of the officials are not happy seeing their customers under the sun and in the rain waiting for new notes that are not available.The banker stated that banks decided to pay to ease the issue of people not having cash, adding that “the CBN remains adamant to change the new policy.”Meanwhile, Nigerians are appealing to President Muhammadu Buhari to obey the order of the Supreme Court to allow the old notes to co-exist with the new ones.However, some have predicted that the President would not act on the order of the court until after the March 11 governorship election so as to prevent candidates from buying votes with the old notes some of them have already stashed in their coffers.
Abia APGA rejects Governorship Poll results as Labour Party leads
The results of the March 18 governorship poll in Abia state has been rejected by the All Progressives Grand Alliance. The Independent National Electoral Commission has so far announced results in 10 LGAs. In a statement signed on Monday by the APGA Chairman Abia State, Rev. Augustine Ehiemere, the party said it would not accept an election “marred by irregularities.” It, however, urged supporters to remain calm as they await the conclusion of the process. The statement read partly, “The results so far announced did not in any way reflect the will of the good people of Abia voters as demonstrated at the various polling units.“We are highly disappointed that the votes cast for our candidate, Professor Greg Ibe, were suppressed and not credited to him.“Regrettably too, there were brazen irregularities, including snatching of ballot papers, over-voting, unprecedented manipulation and violence against the opposition.“Most of the results were collated without recourse to BVAS machines, hence, they cannot be relied upon.“We appeal to our members to remain calm and watch things unfold. We firmly believe that light will triumph over darkness, and Abia emancipated from the chains of undemocratic forces.“The election was marred with irregularities in all parts of the state, and APGA cannot accept a highly flawed election.” Only ten local government results have so far been collated, and they include; Ukwa East, Umunneochi, Ukwa West, Bende, Isialangwa North, Isialangwa South, Arochukwu, Ugwunnagbo, Isuikwuato and Ikwuano. So far, the results announced puts the Labour Party in the lead with a margin of 13,132.
BREAKING: INEC Declares PDP’s Mutfwang winner of Plateau Gov Election
The Plateau State governorship candidate of the Peoples Democratic Party, Caleb Mutfwang, has been declared as the winner of Saturday’s governorship election by the Independent National Electoral Commission.The result declared by the INEC Presiding Officer, Musa Yusuf, after counting the votes scored by parties that participated in the election shows that Mutfwang had the highest votes beating the All Progressives Candidate, Nentawe Yilwatda.Recall that the PDP governorship candidate was reported to be taking an early lead as of 11 am when INEC resumed collations of results from the 17 local government areas of the state.Details later…
Chimaroke Nnamani dumps PDP after losing Senate Re-Election to LP
Chimaroke Nnamani, the senator representing Enugu East Senatorial District, has dumped the Peoples Democratic Party, PDP,He announced his exit from the PDP after he lost his senatorial bid to the Labour Party.Nnamani also expressed appreciation to his constituents for the unalloyed support over the years.The former Enugu State governor’s formal exit from the opposition party was contained in a statement he signed on Monday.The PUNCH reports how the senator was expelled by the PDP on February 10, 2023, alongside some other key party members for alleged anti-party activities. This is also as he lost his bid to return to the Senate to his rival Kelvin Chukwu of the Labour Party.Nnamani stated that he had consulted with his associates and constituents alike and had decided to quit the PDP on account of irreconcilable differences with the national leadership of the party.Speaking further, he noted that he had moved on and hoped that his modest contributions to the development of his constituency would be the building block on which his successors could build on.While reaffirming his acquaintance with the President-elect, Bola Tinubu, he promised to continue to partner him.The former governor also thanked Nigerians especially the Ebeano political family and urged them to remain steadfast in the years ahead.He further expressed optimism that the Tinubu administration would promote good governance, rule of law and human rights for the interest of all Nigerians.
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