National News
FCT residents commend CBN’s compliance with S/Court order on old Naira notes
FCT residents commend CBN’s compliance with S/Court order on old Naira notes
Some residents in the Federal Capital Territory (FCT) have commended the Central Bank of Nigeria (CBN) over its compliance with the Supreme Court order on old Naira notes.
The residents, who spoke in separate interviews with the News Agency of Nigeria (NAN) on Tuesday in the territory, said the compliance was a step in a right direction to help cushion the hardship faced by Nigerians.
Accordingly, the CBN met with the Bankers‘Committee and has directed that the old N200, N500 and N1, 000 banknotes remain legal tender alongside the redesigned banknotes till Dec. 31.
The Supreme Court, had in the March 3 judgment ordered the Federal Government to accept the designed denominations of Naira notes as legal tender until Dec. 31.
However, neither President Muhammadu Buhari nor the CBN Governor, Godwin Emefiele, did not act on the ruling until when the presidency in a statement on Monday, absolved the presidency from non-compliance with the ruling.
Malam Garba Shehu, the Senior Special Assistant on Media and Publicity to the President, in a statement on Monday, said Buhari never told Emefiele and the Attorney-General of the Federation, Mr Abubakar Malami to defy any court order.
“The directive of the president following the meeting of the Council of State, is that the CBN must make available for circulation all money needed and nothing has happened to change the position, ” Shehu said.
However, according to the FCT residents, the compliance was a good decision as it would also afford some Nigerians, who are yet to open an account, the opportunity to do so seamlessly.
Reacting, Mr Emmanuel Nonso, a trader in Gwagwalada market said the compliance would give business owners an opportunity to open an account and have a POS machine for transactions.
“Even before now, we have no choice than to collect the old naira notes because we can’t afford to lose our customers, especially the perishable goods sellers among us.
“The development will give some traders, especially small businesses owners the opportunity to open an account and get a POS machine for transactions,” he said.
A motorcycle operator in Kuje Area Council, Mr Hassan Bell, said “we are happy with the decision because plenty passengers ask if we have POS or if we collect transfers.”
Mr Abraham Gado, another resident of Kuje said there was need for a National broadcast by Mr President to validate the compliance and install confidence on Nigerians.
Mrs Rosemary Adaji, a staff of Kwali Area Council, who hailed the compliance, said it would reduce tension and hardship faced by people in accessing the new naira notes.
A resident of Abaji Area Council, Mrs Eunice Madaki said that the decision was fair; adding that “so long they will make the money available in circulation to reduce the hardship.”
“It was difficult to access money from the commercial banks and POS operators, adding that some POS operators charge as high as N400 for N1000.
FCT residents commend CBN’s compliance with S/Court order on old Naira notes
National News
Investments in circular economy have the potential to increase forex earnings- NESREA DG
Investments in circular economy have the potential to increase forex earnings- NESREA DG
By: Michael Mike
The Director General of National Environmental Standards and Regulations Enforcement Agency (NESREA), Prof. Innocent Barikor has affirmed that investments in the circular economy value chain have the potential to increase the country’s foreign exchange earnings.
Barikor made this statement recently during a meeting with the management of a plastic packaging recycling (rPET) company, Sonnex in Lagos.
He assured the team that the Nigerian government prioritizes circular economy, noting that the draft National Environmental (Plastic Waste Control) Regulations soon to be gazetted is one of the efforts to strengthen the legal framework for circular economy implementation in Nigeria.
He said: “Circular Economy falls under the Presidential priorities for the Federal Ministry of Environment, and the Minister is very keen on the success. Apart from tackling the problem of waste, green jobs have been created .
“The pellets and flakes you produce and export also generate foreign exchange. The Plastic Waste Control Regulations are awaiting official gazette and once gazetted, we would have connected the dots of the framework to implement circular economy in the plastic sector. We are deeply committed to ensuring the success of Circular Economy.”
Earlier, the Managing Director, Anil Mohinani intimated the NESREA boss on the process for the production of recycled PET bottles (rPET), whilst also highlighting the challenges faced by investors in the sector .
He listed some of the setbacks to include lack of a legal instrument to compel manufacturers in the food and beverage sector to embrace food-grade rPET, unfriendly policies by some foreign companies, and insufficient awareness .
“Europe and America create barriers to protect their international recycling business. There is unfair competition. In some countries such as Kenya, there is encouragement to invest in rPET recycling because there is a regulation in place,” he added.
Investments in circular economy have the potential to increase forex earnings- NESREA DG
ISWAP Terrorists Kill Hunters’ Leader in Borno
By: Zagazola Makama
Suspected ISWAP terrorists have killed the chairman of the hunters’ group in Garjang village, Damboa Local Government Area of Borno State.
Sources told Zagazola Makama that the incident occurred at about 5 a.m. on Sunday.
The victim, identified as Habu Dala, 53, was abducted from his home by the terrorists, who took him through Mulharam to Forfot villages in Damboa LGA.
Villagers mobilised in search of Dala and later found his corpse bearing gunshot wounds.
Troops of Operation HADIN KAI, members of the Civilian Joint Task Force (CJTF), and the hunters’ group visited the scene.
The remains were evacuated to the General Hospital, Damboa, where he was certified dead and later released to his family for burial in accordance with Islamic rites.
ISWAP Terrorists Kill Hunters’ Leader in Borno
Nine Injured in Kwali Farmers–Herders Clash
By: Zagazola Makama
Nine persons sustained machete injuries in a clash between Bassa farmers and Fulani herders in Gomoni Village, Kwali Area Council of the FCT.
Sources told Zagazola Makama that the fight, which broke out on Aug. 9 at about 3:30 p.m., followed alleged destruction of melon and maize farms belonging to the Bassa community by cattle.
It was gathered that the Nigeria army troops
along with joint team of operatives, and vigilantes were deployed to the scene following a distress call.
Six Bassa and three Fulani victims with varying degrees of machete cuts were taken to Rhema Foundation Hospital, Kwali, for treatment.
Authorities confirmed that the situation had been brought under control and normalcy restored, while investigation was ongoing.
Nine Injured in Kwali Farmers–Herders Clash
Investments in circular economy have the potential to increase forex earnings- NESREA DG
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