Six days to elections: APC govs, bank CEOs in last-minute rush to clear naira mess



In a last-ditch effort to resolve the lingering cash crisis that has thrown the entire country into turmoil, governors elected on the platform of the All Progressives Congress on Sunday met with the party leadership at the APC National Secretariat in Abuja.

This was as the chief executive officers of banks also met to proffer solutions to the situation which had led to attacks on banks and the death of no fewer than 13 persons across the country.

The development is coming barely six days before the presidential and National Assembly polls slated for Saturday, February 25, 2023

No fewer than 12 governors turned up for the crucial meeting with the APC National Chairman, Senator Abdullahi Adamu, and other National Working Committee members, which started at 2.37pm


At the meeting were governors Nasir El Rufai (Kaduna), Abdullahi Sule (Nasarawa), Muhammad Inuwa Yahaya (Gombe), Mai Mala Buni (Yobe), Abubakar Badaru (Jigawa) and Abubakar Sani Bello (Niger), Yahaya Bello (Kogi), Simon Lalong (Plateau), Biodun Oyebanji (Ekiti), Sani Bello (Niger), Atiku Bagudu (Kebbi), Babajide Sanwo-Olu (Lagos) and members of the National Working Committee of the party in attendance.

Governors Abdullahi Ganduje (Kano) and Dapo Abiodun (Ogun) were absent, while Imo and Katsina state governors were represented by their deputies.

The party’s presidential candidate, Asiwaju Bola Tinubu, later joined the meeting at 4.45pm.

Addressing journalists shortly before their closed-door session, Adamu expressed delight with the turnout, noting the imperative of the meeting.

He said, “It is my privilege to welcome you to this important and emergency meeting. We have found a situation where there is a pressing need to get together as standard bearers of our states in Nigeria who were elected on the platform of our great party, the APC.

“I am happy with the response so far. And it is my understanding that more of the governors are on their way. You will recall the recent development that has necessitated the need for this invitation.

“We do not want to sit in judgment over anybody or bodies with regard to what is going on today in the country as it affects our great party. I thought it best to get all those who are holding forth in the critical positions in the party to get together and have some interaction so that we can have a better interpretation and appreciation of the situation that we are in. That is the essence of this invitation.”

Contrary to an order of the Supreme Court that the Federal Government should suspend the February 10 deadline for swapping the old naira notes with new ones, the Central Bank of Nigeria refused to shift the deadline.

Three states

The apex court order followed a suit filed by Zamfara, Kogi and Kaduna state governments against the Attorney-General of the Federation, Abubakar Malami.

States including Lagos, Ondo, Ekiti, Kano, Sokoto, Ogun and Cross River have also joined the suit as co-plaintiffs.

The crisis between the governors and the President, Major General Muhammadu Buhari (retd.), worsened on Thursday when the President in his nationwide broadcast ignored the apex court by extending the validity of old N200 notes while insisting that old N500 and N1,000 remained illegal.

Buhari in his state broadcast said the old N200 note would be legal tender for the next 60 days, till April 10, 2023, while urging Nigerians to deposit their old N500 and 1000 notes with the Central Bank.

After the APC NWC and governors’ meeting which ended at 7.15pm, journalists were invited into the venue, where the chairman addressed them on the outcome of the parley.

Adamu lamented that although the naira redesign was a good move, the timing and the pain it had brought on Nigerians has necessitated the need for both the CBN Governor, Godwin Emefiele and the AGF, Abubakar Malami to avoid misleading the President.

He said, “I’m sure you are quite aware of the fact that a meeting comprising the APC governors was held today and the leadership of the NWC of our great party was summoned. We had a discussion and at the end of the discussion, we have resolved as follows: That this resolution is without prejudice or whatsoever to the case that is lying at the Supreme Court at this point in time. This has to do with the issue of currency redesign.

“We noted very seriously that the programme and its implementation are causing tremendous difficulties to the people of Nigeria and to the national economy. That we urge the Attorney General of the Federation and the Governor of the Central Bank of Nigeria to respect the supreme court order of interim injunction which is still subsisting

“That the meeting is urging his Excellency, Mr President, to intervene in resolving issues that are causing this great difficulties to the economy,”

When prodded to comment on the need for the presence of the APC Tinubu, at the meeting, Adamu disclosed that “Tinubu’s visit is a normal visit.”

Addressing journalists after the meeting, the Chairman of Progressives Governors Forum and the Governor of Kebbi State, Atiku Bagudu, expressed satisfaction with the level of mobilisation that had gone into the campaign of their presidential candidate.

He stated, “As the chairman spoke, the governors and the party are one and the same. And I am very proud about the conduct of our campaign by our presidential candidate

“The Director General of the campaign and indeed, governors and the candidate across the country have been doing a tremendous job of mobilizing the Nigerian populace and we are very, very impressed with the support of the majority of Nigeria.”

Although some of the governors like Sanwo-Olu and El Rufai wore long faces when they came out of the meeting, it is not immediately know if certain governors are in support of the naira swap policy.

Tinubu refused to address the press when he came out of the meeting at about 7.15 pm.


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Inaugural flight: Green Africa begins operation in Ibadan Airport



Green Africa Airline today, 12th of October, 2023 joins the league of other existing airlines operating in Ibadan airport.

The Founder and Chief Executive Officer, Babawande Afolabi officially announced the commencement of operation at the inaugural flight ceremony which was graced the deputy governor of Oyo state, some chieftains and some state house of assembly Honorables.

The airline is scheduled to operate throughout the week except on Wednesdays and will cover Ibadan, Lagos and Abuja.

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Storm Exchange Your Trusted Solution For Digital Currency Exchange




Storm Exchange over the years have been confirmed to be one of the most reliable platforms to trade digital currency. The platform has also gained wide recognition due to their reliability and swiftness.

Udeogu Chinedu Paul, CEO Storm Exchange is from the Eastern hemisphere of Nigerian but his platform is known all over the world as of today.

Udeogu Chinedu Paul was born on the 1st of April, 1998 and attended Saint Paul primary school and later attended Ikwodiaku Primary school, Awka before later proceeding to Bishop Chrowther Seminary, Awka.

Speaking to newsmen about his journey to being a successful trader, he explains that his secret is simply fear of God. If you include fear of God in everything you do, success will eventually embrace you.

I have never doubted myself from day one, I have never had any plan to be dubious because I know it won’t end well.
The fuel of my success however, is swiftness, reliability and trustworthiness.

I always mention trustworthiness because what I am enjoying today mostly is referrals. My clients always refer me to their friends and family simply because of my level of trustworthiness.

Going forward, Paul sends a strong message to other trading platforms that the digital world is here to stay, it has rapidly evolved and the sky is wide enough for every trader to trade. He therefore, advises them to invest more in trustworthiness for it is the fuel to being a successful trader.

When Paul was asked where he would love to be in few years time, he said he is not stopping until he becomes the number one trader in the whole world. He plans to have the strongest platform in the whole world and prays that God grants his wishes.

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Stock market jumps to 15-year high after Emefiele’s suspension



The Nigerian stock market rose to its highest level since July 2008 on Tuesday, the first day of trading after the suspension of the Central Bank Governor, Godwin Emefiele.

According to a report by Bloomberg, investors are betting on a currency devaluation and sent the main index of the Nigerian Exchange to above 57,437 points, which contrasted with a flat performance for MSCI’s main emerging equity benchmark.


The report stated that this move takes the country’s stocks’ year-to-date gains to 11.8 per cent, almost double the six per cent return on the MSCI index.

It noted that the rally, which followed increased gains on Nigerian dollar bonds on Monday, reflected optimism over the policy signals from the newly elected President, Bola Tinubu.

The head of research at Chapel Hill Denham, Tajudeen Ibrahim, stated, “An improvement in the economy will enhance the performance of companies operating in the market.”

Since resuming office, the new president has scrapped fuel subsidy and recently suspended the apex bank’s governor, Emefiele.

The NGX Banking Index has since risen by 8.5 per cent to 570.64, its biggest advance in more than eight years.

Ibrahim, added, “The exchange rate convergence is expected to lead to improvement in liquidity in the foreign currency market and will increase trading activities for the banks.”

Meanwhile, pressure is mounting on the naira to fall towards its market value. The currency has fallen to 474 per dollar, with traders betting on further depreciation.


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