National News
CBN confiscates N56.8 million – Report
CBN confiscates N56.8 million – Report
By: Our Reporter
A total of 67,265 banknotes with a nominal value of N56.8 million were confiscated last year, the 2020 yearly report of the Central Bank of Nigeria (CBN) has revealed.
The volume is 20.8 per cent less than 84,934 pieces confiscated the previous year and 12.18 per cent short of the nominal value. In 2019, N64.7 million was confiscated.
The report also revealed that N1000 and N500 bills dominated the confiscated denominations, accounting for 69.06 percent and 30.79 per cent respectively.
The two highest denominations accounted for 99.85 percent of seized fake naira with smaller denominations taking only 0.15 per cent. The data validates the historical trend where criminals target higher denominations for counterfeiting.
According to the statistics, the ratio of confiscated counterfeit notes to the volume of currencies in circulation was 13 pieces per million or one to 77,000, suggesting that one out of every 77,000 banknotes in circulation last year was fake.
The apex bank reports that the volume of currency-in-circulation (CIC) increased by 19 per cent from N2.44 trillion at the end of 2019 to N2.9 trillion by December 31, 2020. The increase suggests the continued dominance of cash transactions despite the growth of digital payment systems.
Detailed analysis showed that N5, N10, N20 and N50 banknotes accounted for 28.4 percent of the total volume of currency in circulation. The smaller denominations’ share of the value of the money in circulation was only 1.9 per cent while 100, N200, N500 and N1000 accounted for 63.5 per cent and 98.08 per cent of the volume and value of the currency in circulation respectively.
According to the report, the total stock of currency (issuable and non-issuable) in the vaults of the bank at the end of December 2020 was 2.75 billion pieces compared with 2.64 billion pieces reported in 2019. The figures show an increase of over 100 million pieces or four per cent.
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“At end of December, 2020, the total issuable notes (newly printed notes and counted audited clean notes) was 592.94 million pieces, compared with 726.43 million pieces in 2019, representing a decrease of 133.49 million pieces or 18.38 per cent,” the report notes.
Last year, the apex bank cut its expenditure on currency printing from N75.5 billion spent in 2019 to N58.6 billion. The Bank had spent the N64 for the same process in 2018.
“The total cost incurred on printing of banknotes in 2020 amounted to N58,618.50 million, compared with N75,523.50 million in 2019, indicating a decrease of N16,905 million or 28 per cent,” the report states.
In a separate press release, the regulator said the reduction was in line with the objective of the Godwin Emefiele-led CBN to cut the cost of printing banknotes and cash management and that eNaira was also initiated in line with the policy.
The report also says the CBN generated the sum of N6.5 billion as total income from currency management activities in the year under review compared with N13.2 billion released in 2019. The figures imply a decrease of N6.7 billion or 50.9 per cent.
“The income generated was largely from penal charges on unsorted banknotes deposited by DMBs and charges for authentication of foreign currency deposits with the Bank,” says the report.
It also disclosed that the Bank incurred a total of N67.2 billion as expenses on currency operations in the year. The amount is N18 billion or 21 per cent less than N85.2 billion spent a year earlier.
CBN confiscates N56.8 million – Report
National News
16 Days of Activism Against Gender-Based Violence: Daurama Foundation Premieres ‘Voices Within”
16 Days of Activism Against Gender-Based Violence: Daurama Foundation Premieres ‘Voices Within”
By: Michael Mike
Daurama Foundation has announced the premiere of Voices Within, a powerful short film that sheds light on domestic and gender-based violence.
Produced by Take 7 Media and directed by Bem Pever, with screenplay by Mahdi Eldaw and Emil Garuba, this evocative film forms a key part of Daurama Foundation’s initiatives for the annual 16 Days of Activism, a global campaign to end violence against women and girls. The premiere will take place at Silverbird Cinema, Jabi Lake Mall, Abuja, on November 30, 2024, at 4:00 pm.
Voices Within tells the story of a young girl who witnesses a tragic cycle of abuse at home and turns to writing as an escape. Through her storytelling, she finds the strength to express her pain and resilience while dreaming of a safer world. Her story also unveils her mother’s plight—a survivor of abuse who, due to a childhood disability, is unable to defend herself physically. This moving narrative amplifies the voices of those often unheard, encouraging audiences to stand in solidarity against violence.
The cast features a talented ensemble of Nigerian actors, with standout performances by Grace Daudu, Mbasity Jesse, Tolu Asanu, Franca Igwe, Lanzy Janpak, Hoomsuk Alex Jibrin, Austin Mangs, and Senenge Abela. Dr. Samira Buhari, Executive Producer and Chair of Daurama Foundation, shares that Voices Within embodies the Foundation’s commitment to empowering women and fostering communities that advocate against violence.
Daurama Foundation is a Nigerian non-governmental organisation focused on improving health outcomes and advocating for the rights of women and girls through education, outreach, and community engagement. Their work addresses critical issues affecting women’s and girls’ well-being, developing programs and resources that combat domestic violence and provide a pathway forward for survivors.
“The release of Voices Within marks an important milestone in our mission to not only raise awareness but also inspire action. We invite the public, stakeholders, and community members to attend this premiere, be moved by the story, and join us in saying ‘no more’ to gender-based violence,” said Dr. Samira Buhari. For those committed to creating a safer and more inclusive world, Voices Within is a call to action. These premiere promises to be a transformative event that unites communities in the fight against domestic violence and gender-based violence.
16 Days of Activism Against Gender-Based Violence: Daurama Foundation Premieres ‘Voices Within”
National News
EndBadGovernance: NHRC Condemns Arraignment of Minors for Treason by Police
EndBadGovernance: NHRC Condemns Arraignment of Minors for Treason by Police
By: Michael Mike
The National Human Rights Commission (NHRC) has condemned in its entirety the arraignment for treason of children and minors who allegedly participated in the recent nationwide #EndBadGovernance protests.
The Commission in a statement at the weekend said it wishes to state that the arrest, detention and arraignment of these minors by the Nigerian Police on charges of treason and attempting to overthrow a legitimate government among other charges clearly contravenes a plethora of national, regional and international laws.
The Executive Secretary of the Commission, Dr. Tony Ojukwu, who stated this in Abuja over the weekend noted that the action of the Nigeria Police has raised significant concerns among senior lawyers and legal experts, the human rights community, development partners, sister national human rights institutions and well meaning Nigerians as it is widely considered as an excessive and inappropriate use of State Institutions against Citizens and it is even worse when the victims are children and minors whose best interest were not considered at all in line with the law.
Ojukwu stressed the importance of ensuring that legal proceedings align with children’s rights as protected under the Nigeria’s Child’s Rights Act 2003, the Administration of Criminal Justice Act 2015 (ACJA), and some regional and international legal frameworks, including the African Charter on the Rights and Welfare of the Child and the United Nations Convention on the Rights of the Child (CRC).
He noted that these frameworks emphasize that children should be treated differently and separated from adults within the justice system, focusing on their best interest, protection and rehabilitation rather than harsh punitive measures.
He added that unfortunately, the trial court that should know better than the police unleashed a draconian bail condition which almost all the children cannot meet, and adjourned the matter to Jan 2025, knowing fully well that these are children who have been detained since August 2024. Infact, the judge witnessed some of the children looking malnourished and unwell which calls to question the mental state of the judge when imposing such bail conditions on the children and minors for participating in a protest now turned treason.
Ojukwu explained that The NHRC’s criticism mainly centers on insensitivity of the prosecution and the court for the lack of humanity, accountability and impunity in the application of the law to the children , the severe nature of the charges, the draconian bail conditions and the potential for the psychological harm such impunity in actions might cause minors, bearing in mind that there are procedures for the treatment of the underaged, even when they come in conflict with the law. When treated in the way the prosecution and the court have done, our children could grow up with deep grudge against society, and unleash huge contempt on society in future.
He said: “We are therefore calling for immediate corrective action to ensure that children are not unfairly subjected to extreme inhumanity and slammed with charges like treason, which carry heavy penalties generally reserved for adult offenders accused of severe crimes against the state.”
According to his statement, the incident also points to broader systemic issues within Nigeria’s criminal and juvenile justice system and the need for reforms and enlightenment of police and the judiciary of the need to protect child rights in compliance with both national and international human rights standards.
Ojukwu commended the Attorney General of the Federation and Minister of Justice, Prince Lateef Fagbemi for intervening by instructing the police to forward the case files of these minors to his office for a review by the Director of Public Prosecution of the Federation (DPPF).
He noted that this action by the Attorney General of the Federation is seen as a positive step towards ensuring a fair and careful evaluation of the charges levelled against the minors, providing an opportunity to reassess the appropriateness of the charges, the combination of adults and children in the same charges, the venue of trial of adults and children, the length of adjournment, the venue of the incarceration of the children, the onerous bail conditions, the health and nutrition of the children and a host of other considerations enumerated in the law concerning the treatment of Children when in conflict with the law. These considerations have been disregarded with impunity so far by both the police and the trial Judge therefore casting doubts as to whether the children can get fairness and justice from the current handlers within the police and court under the circumstances.
He added that the intervention of the AGF further underscores the importance of prosecutorial and judicial oversight, particularly in cases involving children for serious allegations like treason.
He noted that: “By involving the DPPF, the Attorney General’s office has demonstrated a commitment to upholding due process and the rights of children, who should be afforded protections and rehabilitation within the justice system.”
Ojukwu said the NHRC’s position is to use this opportunity to re-emphasize the right to peaceful protest during the End Bad Governance Protests and the need for a balanced approach to justice, ensuring that the legal rights of minors are protected and that any legal proceedings reflect the principles of fairness and child protection as outlined in Nigeria’s legal frameworks.
EndBadGovernance: NHRC Condemns Arraignment of Minors for Treason by Police
National News
EndBadGovernance: Group Asks FG to Release Detained Protesters Now or Face Nationwide Mobilization Against “State Repression.”
EndBadGovernance: Group Asks FG to Release Detained Protesters Now or Face Nationwide Mobilization Against “State Repression.”
By: Michael Mike
The Movement for the Transformation of Nigeria (MOTiON) has said it is outraged and appalled by the blatant display of government repression that has led to the unconscionable detention of 76 protesters across the nation including 32 minors.
The group in a statement on Sunday by its Convener, Hauwa Mustapha, noted that these protesters are being charged with ludicrous accusations of terrorism, attempted mutiny, and treason simply for exercising their democratic right to protest against government mismanagement of the commonwealth resources, hunger and hardship.
The statement read that: “This alarming attempt to criminalize peaceful expression as guaranteed by the 1999 Constitution as Amended is yet another assault on the fundamental rights and freedoms of Nigerian citizens.
“It is increasingly apparent that the Nigerian government is not only weaponizing state power but is also acting in dangerous alignment with external forces like the International Monetary Fund (IMF) and the World Bank. In seeking to implement an agenda driven by these international entities, the government has seemingly resorted to brutal repression to silence dissent and discourage citizens from publicly resisting harmful policies.
“The government’s actions— including detaining minors, inflicting trauma on protesters, and issuing punitive bail conditions – of N10 million each send a clear message that protests, and free expression are being treated as criminal acts and is a shameless and deliberate act designed to keep them imprisoned indefinitely and send a warning to all who might dare to dissent.”
The statement added that: “The root causes of these protests reflect deep-seated issues of bad governance, a crippling inflation rate that has sharply reduced the purchasing power of citizens, and an unmanageable cost of living that leaves countless Nigerians grappling with hunger and poverty.
“Rather than the government addressing these deep-rooted issues of poverty which is affecting over 65 percent of citizens and has seen at least 20 million children roaming the streets of the nation, government has resorted to high handed approach of fighting the very citizens it swore to protect.
“These are the real crises that have driven citizens to take to the streets, to demand accountability and a government that prioritizes the well-being of its people over external agenda.”
MOTiON further said: “The coordinated suppression of public expression is uncalled for, as it is disturbingly aligned with an IMF and World Bank playbook notorious for encouraging governments to suppress their people to enforce often oppressive economic reforms.
“The Nigerian government’s partnership with these entities has evidently come at the cost of the democratic rights of its own citizens.
“These recent events position the current administration as systematically paving the way toward full state capture and adopting a dangerous blend of dictatorship under the guise of democracy. MOTiON calls upon the Federal Government to recognize that dissent is not a crime; it is a democratic right. Attempts to criminalize it will only strengthen the resolve of the Nigerian people to demand justice and accountability.”
MOTiON emphatically demanded for the immediate and unconditional release of all detained protesters, including the minors, by the Attorney General of the Federation, who has the authority to withdraw these “baseless charges.”
“An end to the criminalization of peaceful protest and a complete halt to the harassment of citizens exercising their constitutional rights.”
It said failure to heed these demands will compel MOTiON “to mobilize the full force of our membership, along with millions of Nigerians, to resist this unbridled tyranny. MOTiON will not rest until justice is served. We are prepared to confront this state repression head-on, alongside every Nigerian who believes in a just and democratic society.”
MOTiON, according to the statement, is a collective force of Nigerians from mass democratic organisations, workers’ organisations, pro-democracy movements, movements for social justice, women groups, citizens groups, NGOs, academia, students and youth groups, and climate action groups.
The statement described the group as “a movement of movements channelling shared anger, frustration and aspirations of Nigerians into purposeful action. Through concerted, strategic effort, we are engaging in citizens’ actions to address and overcome the root causes of Nigeria’s current state: elite capture, ineffective leadership, institutional corruption, insecurity, and the pervasive culture of impunity.”
EndBadGovernance: Group Asks FG to Release Detained Protesters Now or Face Nationwide Mobilization Against “State Repression.”
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