The Arewa Consultative Forum (ACF) has picked a hole in the introduction of the cash withdrawal limits by the Central Bank of Nigeria (CBN). The apex bank recently announced a policy of restricting individual cash withdrawals from commercial banks to N20,000 per day and N100,000 for a week or N500,000 in the case of corporate bodies. But reacting to the development, the body’s Secretary General, Murtala Aliyu, ACF warned that the insistence of the CBN on implementing the wholly unrealistic policy will lead to a catastrophic collapse of the informal sector of the economy. In a statement on Friday, he said this is considering the fact that transactions in commodity markets particularly in the rural areas are entirely cash-based The group also noted that Nigeria has the lowest financial penetration in Africa whereby over 38 million adults do not have access to banking services with “women, rural dwellers, Micro-Small and Medium-Sized Enterprises and Northern Nigeria” being among the most disproportionately excluded. It, however, asked the CBN to allow a level playing field for a wide range of financial providers and encourage partnerships between them. Furthermore, ACF asked CBN to enforce strict regulations that protect people’s money, and inform, encourage and prepare the public adequately for the transition. The group insisted that until the CBN addresses the challenges substantially, a preemptive move or a”frog-jump” into a cashless payments system, however well-intentioned, will only land the country into a bottomless pit. FULL STATEMENT ACF PRESS STATEMENT CBN’s Risky Plan Let’s be clear; The decision by the Central Bank of Nigeria, CBN, to kickstart the long anticipated cashless payments regime in Nigeria with effect from January, 2023, is well justified, perhaps even well intentioned. Cash based economies are notoriously costly, inefficient and prone to attacks by evil people. A huge amount of time and money is needed to print the currency and a lot more still to steer it through the system. The currency notes themselves have a shelf life after which they have to be replaced. Cash is the lifeblood of the underworld: difficult to trace and quite convenient for terrorists, money launderers, smugglers, vote buyers, etc. So, yes, the less cash available for all these criminals as the CBN is trying to achieve, the better for law abiding citizens. That said, we do need to remember that the road to hell is paved with good intentions. CBN officials may have the best of intentions while contemplating this policy but evidently failed to consider the unintended consequences of implementing it in the way they have planned; consequences that may be extremely grave. If the CBN insists on implementing this wholly unrealistic policy of restricting individual’s cash withdrawal from the banks to N20,000 per day and N100,000 for a week or N500,000 in the case of corporate bodies, it won’t be long before we suffer a catastrophic collapse of the informal sector of the economy. More than anyone, CBN knows that transactions in commodity markets especially in the rural areas are entirely cashbased. The villager that brings to the market his chickens, beans, onions, goat or cows does not typically have a bank account or internet skills. Cash remains the overwhelming medium of exchange for much of the country particularly in the North. This should surprise no one as bank offices are largely unavailable even for people who are keen and have the skills to use them. Even by the CBN’s reports, over 38 million adults in Nigeria do not currently have access to banking services with “women, rural dwellers, Micro-Small and Medium-Sized Enterprises and Northern Nigeria” being among the most disproportionately excluded.And despite its pious pretensions, it is on record that the CBN under the present management, apparently out of desire to safeguard the interests of the commercial banks, has done much to undermine and stifle the progress of financial inclusion in Nigeria. Thanks to the decisions taken by the CBN, Nigeria, today, despite its size, has the dubious record of having the lowest financial penetration in all of Africa, perhaps in the world. Under the circumstances, the CBN will do itself and the country a world of good if it invests more efforts at addressing these challenges. It should start by ensuring that various financial institutions are created in sufficient numbers and in all parts of the country. It should allow a level playing field for a wide range of financial providers and encourage partnerships between them. Furthermore, the CBN must enforce strict regulations that protects people’s money. It must inform, encourage and prepare the public adequately for the transition. Until the CBN is able to address these challenges substantially, a preemptive move or a”frog-jump” into a cashless payments system, however well intentioned, will only land us into a bottomless pit. Signed Murtala Aliyu (Secretary General) ACF

  Nollywood actor, Yul Edochie has said that the sit-at-home order by the self-determination group would not bring about the actualisation of the sovereign state of Biafra. The actor made this known on Friday via his Twitter page in an open letter to Simon Ekpa, the self-acclaimed disciple of Nnamdi Kanu, the leader of the Indigenous People of Biafra (IPOB). Ekpa declared the completion of the five-day sit-at-home order in a video uploaded to YouTube on Wednesday night, calling it “historic and successful” for Biafraland. Reacting to the video, the Biafra dream, according to Yul, could not be realised by a sit-at-home campaign. He added that only through peace and diplomacy and most definitely not by violence can Biafra be achieved. He wrote, “Dear Simon Ekpa, ‘sit at home’ will not bring Biafra. “Suffering your own people will not bring Biafra. “Nigeria wasn’t joined by Emeka or Chioma, Nigeria was joined by the British Government for their own personal reasons, therefore suffering your people to make a point is of no use. “To achieve Biafra we must find peaceful and diplomatic ways to make the world hear our voice. “And it starts by preaching love, peace and unity amongst Ndi Igbo. “Using violence on your people will only bring division. “And a divided house can never achieve anything meaningful.”

  Christopher Eleghu, the candidate of the Labour Party (LP) for Onuimo constituency, Imo state house of assembly in 2023 general election was killed by yet to be identified gunmen in home on Friday. Eyewitnesses said the gunmen were also said to have set Eleghu’s home ablaze and destroyed several properties.   The gunmen reportedly also targeted some politicians in the area “They have killed Christopher Elehu, popularly known as Wasco. Until his death he was the Labour Party candidate in Onuimo Local Government Area. “They invaded his house when everybody had gone to sleep and shot for over two hours. “They killed the man and burnt his house. They also destroyed his property. His corpse was laying on the floor with matchet cuts when villagers gathered in the morning,” a witness was quoted as saying in some reports. It will be recalled that the Women Leader of Labour Party in Kaura Local Government Area of Kaduna State, Victoria Chintex, was also some weeks ago murdered in her residence by yet to be identified assassins. However, Imo State has witnessed a series of violent attacks in recent times. Just last Monday, gunmen attempted to burn the Owerri, Imo state head office of Independent National Electoral Commission (INEC) among other acts of violence attributed to unknown gunmen in the state. Another Labour party candidate Chukwunonye Irouno had also recently passed just before the party’s presidential candidate Peter Obi’s campaign rally in Owerri.

  A High Court sitting in Enugu, has sentenced an employee of the Central Bank of Nigeria, Jude Ozougwu and his wife, Ifeoma Ozuogu, to 13 years imprisonment for child abuse. The convicts, who were arrested by the police in 2020, were found guilty of inflicting bodily harm on their 10-year-old home.   The convict abused the victim, identified as Nneoma Nnadi, for allegedly causing her baby to fall to the ground at their home in Aku, Igbo-Etiti LGA of the state. The couple were also accused of inserting pepper into the little girl’s private parts & locking her up in the toilet for refusing to wash plates. They were arrested after neighbors raised an alarm and was subsequently arraigned before Justice A. C. Ogbuabor of State High Court 10 on three counts bordering on inflicting grievous harm, administering noxious or poisonous substance & employment of a child as a domestic worker. Delivering judgment in the suit marked No: HE/121c/2020 between the State (Plaintiff/Applicant and Jude Ozuogu and Ifeoma Ozuogu (1 & 2 Defendants), the court convicted them. Condemning the treatment meted out to the 10-year-old girl, the court sentenced the couple to 13 years imprisonment each. Justice Ogbuabor convicted the couple on all three counts and sentenced them accordingly. On count one – Inflicting grievous harm, the court sentenced them to three years imprisonment. On count two – administering a noxious or poisonous substance, the court sentenced the couple to five years imprisonment, and on count three – employment of a child as a domestic worker, the court sentenced the couple to five years imprisonment. The court, however, ordered that the period the convicts had stayed in custody from the day of arrest should be discounted.

  Ebonyi State Governor, David Umahi Governor David Umahi of Ebonyi on Thursday ordered the arrest of the caterer who allegedly served poor quality food during the Christmas party for widows and the aged in the state. Mr Umahi, who did not disclose the name of the caterer, said it was terrible for someone to give others what he or she could not consume.   The governor said that the police would follow due process in investigating the cook for her to refund the funds given to her to prepare the food. “We are, therefore, going to repeat this party as we should celebrate our fathers and mothers well. “The bible enjoins us to honour our fathers and mothers so that our days would be long on earth. “I want my days to be long because I have suffered from the youth,” he said. He declared that he would inspect the food to be served to the widows and elders during the repeat celebration scheduled to hold on December 21. “I have directed the deputy governor and my senior special adviser on religion and welfare matters, to make adequate preparations. “The celebration must be held on December 20 or 21 as anyone who takes what belongs to this category of people is taking trouble,” he said. Mr Umahi also expressed dismay over the quality of wrappers given to the widows and elders, describing them as low in quality. “We gave the civil servants high quality of wrapper and they were happy. “The people who supplied those of the civil servants should be ready to supply 10,000 highest quality wrappers, to the widows and elders”. He advised parents to inculcate good morals in their children to check the social vices being witnessed in the country, especially in the south-east zone. “When I declared that the mode of agitation some people propagated in the zone would be uncontrollable if not checked, people didn’t take it serious. “Ebonyi will never be part of any agitation which leads to the killing of our people and unwarranted destruction of property,” he said.

  Justice James Kolawole Omotosho of the Federal High Court, Maitama, Abuja, has remanded Aliyu Bello, a nephew of Kogi State Governor Yahaya Bello; and Dauda Sulaiman in prison pending the fulfillment of their bail conditions for their alleged involvement in a N10 billion fraud. An Economic and Financial Crimes Commission (EFCC) statement revealed Bello and Sulaiman faced a 10-count charge of misappropriation and money laundering on Thursday. Abdulsalami Hudu, Cashier of the Kogi State House Administration, aided the fraudulent activities and is still at large, according to the EFCC. “Bello and Sulaiman are accused of fraudulently withdrawing a sum of N10, 270,556,800 from the Kogi State treasury, which they delivered to a Bureau de Change operator, Rabiu Usman Tafada, in Abuja to keep or change to foreign currencies for personal gains,” the statement read in part. EFCC said Bello, Sulaiman and Hudu gave Tafada N5,865,756,800 and N2,509,650,000 at different times between January and December 2021. The high court deemed these funds to be proceeds of criminal misappropriation of Kogi State’s funds. Bello and Sulaiman pleaded not guilty to the charges. “Justice Omotosho admitted the defendants to bail in the sum One Billion Naira each and two sureties who are to provide a bond of N2 billion each and have a landed property valued at N500 million. The title of the properties shall be registered with the chief registrar of the court,” the statement read. Omotosho sent Bello and Sulaiman to the Kuje Correctional Centre in Abuja pending the fulfillment of their bail conditions. The next hearing will take place on February 6, 2023.

  Friday 16 December 2022 Atiku, Kwankwaso, Obi, Tinubu promising Nigerians everything Ekweremadu’s son blames EFCC over bail denial in UK e-Passport: Immigration launches fastrack service for Nigerians in diaspora UK nurses begin strike over pay rise We’re not behind Ekweremadu’s travails – EFCC Why FG’ ll begin implementation of PMS in Civil Service — Yemi-Esan Two sons of Borno ex-commissioner, others die in auto crash I’m Igbo’s route to presidency — Atiku Trump continues push for White House return with $99 NFTs of himself Police arrest ‘Bongo’ IPOB/ESN Commander, recover stolen vehicle, IED in Ebonyi US announces $2.5bn in food assistance to Africa Why I bath with blood, 49-year-old man tells Ogun Police Inflation hits 17yr high, rises to 21.47% 2023: FG, states budget N19.16trn on salaries, pensions, others Blasphemy: Kano cleric, Abduljabbar, sentenced to death by hanging Lady killed as train crushes car in Abuja DSS says no money for food; no drugs for 9 days — Nnamdi Kanu Banks run out of new naira, demand soars Second Niger Bridge eases traffic, motorists excited Court Dismisses Nwaijuba’s Suit Seeking Tinubu, Atiku’s Disqualification Over N30bn Recovered From Suspended AG, Ahmed Idris – EFCC NASS Screens Lauretta Onochie, Others For NDDC Roles US Is ‘All In’ For Africa, Biden Tells Leaders You’re One Of The Two Front-Runners For Presidency, Soludo Tells Atiku Vatican Confirms Apology To Moscow Over Pope Comments PVC: Multiple Registrants Will Not Get New Cards – INEC Hope rises for Tonye Cole as appeal court voids judgment nullifying all Rivers APC primaries 2023 polls shouldn’t be do-or-die affair, CAN tells politicians ‘3,615 convictions, over $121m recovered’ — EFCC lists 2022 achievements Ganduje Ready To Sign Abduljabbar’s Death Warrant – Kano Gov’t Visit a newspaper stand this morning, buy and read a copy for yourself…

  The Department of State Services (DSS) has not given the leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, his medication for nine days, and had not given him food today. This was made known by Kanu’s Special Counsel, Aloy Ejimakor, via a tweet on Thursday following his routine visit to the self-determination group’s leader at the DSS headquarters in Abuja. Ejimakor said he visited the IPOB leader in the company of Kanu’s brother, Prince Emma Kanu and lawyer, Nnaemeka Ejiofor. According to the Ejimakor, the DSS said there was no money to buy Kanu’s food, the reason he has not eaten today. “Today, I visited Mazi Nnamdi Kanu in the company of Prince Emma Kanu and Barrister Nnaemeka Ejiofor. “He instructed me to make it public that he has not been given his drugs for the past nine days and he has not eaten today because DSS says that they don’t have money to buy his food,” Ejimakor tweeted. Below is the tweet: Special Update: Today, I visited #MNK in company of Prince Emma Kanu & Barr. Nnaemeka Ejiofor. He instructed me to make it public that he has not been given his drugs for the past 9 days & he has not eaten today because DSS says that they don’t have money to buy his food. #Sad. pic.twitter.com/RlohTrzybe— aloy ejimakor (@AloyEjimakor) December 15, 2022