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Senate in rowdy session over Debates on CBN Naira Redesign Policy

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By Abdulateef Bamgbose

Rowdy session ensued on the floor of the Senate Wednesday during debate on Naira Redesign Policy of the Central Bank of Nigeria ( CBN).

Debate on the policy by Senators was sequel to a motion sponsored to that effect by Senator Uba Sani ( APC Kaduna Central).

Senator Sani who chairs the Senate Committee on Banking, Insurance and other Financial Institutions, had in the prayers to his motion , urged the Senate to provide legislative support for the policy.

He also wants the red chamber to mandate his Committee to embark on aggressive oversight on the policy slated to take full effect on January 31, 2023.

Trouble started on the debate when senators Ali Ndume, Abiodun Olujimi, Betty Apiafi, Barau Jibrin, Chukwuka Utazi, and Orji Uzor Kalu, supported the CBN policy but suggested the extension of the deadline for compliance.

Kalu specifically wanted the Senate to invite the Governor of the CBN, Godwin Emefiele, to throw more light on the policy while he should be persuaded to extend the deadline to April 30, 2023.

But Senator Gabriel Suswan disagreed with Kalu and others claiming that CBN Governor has always shunned the Senate invitations.

He urged his colleagues to ignore the CBN policy and let the country damn the consequences.

Senator Bassey Akpan stressed the need to support the CBN Governor. He said there should be no discussion on the matter.

Suswan and Akpan’s submissions did not go down well with those seeking the extension of the deadline and the chamber turned rowdy.

It took the persistent appeals by the presiding officer, Omo-Agege to resolve normalcy after about 15 minutes of hot arguments among the senators.

Deputy President of the Senate, Senator Ovie Omo-Agege said it was the prerogatives of the CBN to redesign the naira and put deadline for compliance.

The Senate, after the rowdy session, offered to provide legislative support for the policy.

It also mandated the Senate Committee on Banking and Financial Institutions to go on oversight.

Senator Ali Ndume had earlier said there are are only five banks in the entire 27 local government areas in Borno State since the insurgency started in the state.

Senator Abiodun Olujimi, also said one and half month was too short to withdraw all the money in circulation to avoid shutting down the economy.

She said the Senate should invite the CBN Governor for further explanation on the issue.

Senator Betty Apiafi said rural banking had been shut down hence the January deadline should be extended.

She said counterfeing wasn’t enough to change the naira.

She said the implications of the redesign should be criticality examined in view of the fact that bandits have said they would be collecting ransom I’m foreign currencies.

Senator Barau Jibrin, said naira redesign cannot not halt terrorism but could only reduce it.

Senator Chukwuka Utazi said, because of the rural nature of the country, the leadership of the Senate should interface with the CBN Governor to explain the implications on the peculiarity of the country. CBN shouod visit all the rural communities to get first hand information.

Senator Orji Uzor Kalu, suggested the extension of the deadline from January 31 to April 31 and that the Committee on Banking and Finance should meet with the CBN Governor on the matter.

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Politics

APPEAL COURT VERDICT APC CHIEFTAIN, GOLOLO APPEALS FOR CALM

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By Abdul lateef Bamgbose
All progressive Congress chieftain Dr. Garus Gololo, has called for calm and reconciliation while congratulating senator Aishatu Binani, the All progressive Congress ( APC), governorship candidate in Adamawa state.
Gololo the All progressive congress ( APC), chieftain, also the coordinator of the North – East pressure group, made the call in Abuja , on Thursday while briefing the press on the outcome of the court of Appeal ruling which uphold the candidature of senator Aishatu Binani, in Adamawa state.  
“The verdict of the Appeal Court is the reflection of the will of the electorates who voted for Senator Binani in that primary and the teaming youth that are behind her in the state”
“I want to also appeal to the All progressive Congress ( APC), presidential candidate Asiwaju Ahmed Tinubu and his running mate Kashim Shetima to immediately take advantage of this ruling by calling all the parties to order.
Without Binani the party stand to lose not the governorship election but the presidential election in Adamawa state” he said
Dr. Gololo also called on Nuhu Ribadu, to put the outcome of the primary behind him in the interest of the party.
“It will not do Nuhu Ribadu or the APC any good to continue on the warring path, the election is almost here. Binani should as a matter of fact remain focus and embrace all the parties. The Verdict is a victory for the party and members of the APC in the state.

The Court of Appeal in Yola on Thursday upheld the governorship candidacy of All Progressives Congress candidates, Emmanuel Bwacha and Aishatu Ahmed also known as Aisha Binani for Taraba and Adamawa states respectively.
The Appeal Court set aside a ruling by the High Court nullifying their candidacy and ordered that their names be forwarded to the Independent National Electoral Commission as the APC governorship candidates for both states.
In the court’s sitting presided over by a panel of three justices of the Court of Appeal, which had justice T. Y Hassan as the presiding judge and two others, Judge M. O. Bolaji and J. G. Abundaga, as JCA 1 and JCA 2.
The Federal High Court in Yola, Adamawa State, had on October 13, nullified the candidature of Binani as the governorship candidate of the APC in the state. Based on suit FHC/YL/CS/12/2022 filed by another APC governorship aspirant in Adamawa, Nuhu Ribadu, the court declared Binani’s candidature invalid and unlawful.
The court also refused to order a fresh APC governorship primary in Adamawa State.
Dissatisfied by the court ruling, which refused to order a fresh primary that would have enabled him, contest the governorship,  Ribadu filed an appeal in suit NO.CA/YL/203/2022 between him and All Progressive Congress and two others.

However, the court in it’s ruling on Thursday dismissed the appeal filed by Ribadu but allowed Binani’s appeal seeking to overturn the judgement given by the Federal High Court presided over by Justice Abdulaaziz Anka.
Similarly, This medium sreported on September 20, 2022 that the Federal High Court sitting in Jalingo, and presided over by Justice Simon Amobeda, nullified the governorship primary election that produced Senator Emmanuel Bwacha, as the candidate of the All Progressives Congress in the 2023 election.
In his ruling in the case filed by one of the governorship aspirants, David Kente, the judge directed INEC to conduct a fresh governorship primary in the state within 14 days.

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