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Buhari Unveils New Naira Notes Today

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The Governor of the Central Bank of Nigeria, Godwin Emefiele, has announced that President Muhammadu Buhari will unveil the new naira notes during the weekly Federal Executive Council at the Presidential Villa on Wednesday.

He also said the new notes would go into circulation before the December 15, 2022 date earlier stated by the central bank.

He made the announcement during a press briefing held after the Monetary Police Committee meeting in Abuja.

Meanwhile, the Director of Information Technology at the CBN, Rakiyat Mohammed, said that about 36 million Nigerians currently had zero access to financial services.

Mohammed, who spearheaded the development and deployment of the eNaira, stated this on Tuesday during the Zenith Bank Tech Fair which was held in Lagos.

Delivering her presentation at the Fair which is themed ‘Future Forward,’ she said the CBN was the first Central Bank in Africa and second in the world to launch a Central Bank Digital Currency.

According to her, the development of the CBDC was borne out of the urgent need to provide “financial inclusion to the 36m Nigerians who currently lack access to financial services.”

She said, “Nigeria has the 6th most advanced retail payment system. This was according to a report by ACI. So, if you look at that report, you will see why.

“Remember, when the president launched eNaira, he did say in the next 10 years, we expected eNaira and its associated technologies to increase our GDP by $20bn. We are working on that.”

She further stated that in the light of emerging trends, it had become pertinent to develop a currency that was a legal tender that would be able to play in the digital economy space.

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Cyril Ramaphosa Re-elected As South African President

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The South African Parliament has, during its first sitting of the 7th Parliament on Friday, re-elected Mr. Cyril Ramaphosa as the President of the Republic of South Africa. He has been re-elected to serve a second term as the President.

Thia was hours after his African National Congress and the Democratic Alliance (DA) agreed to form a coalition, setting aside their rivalry in a historic governance pact.

In terms of the Constitution, the National Assembly must, at its first sitting after its election, elect a woman or a man from among its members to be the President.

Mr. Ramaphosa was elected with 283 votes against Mr Julius Malema with 44 votes. The Constitution states that when elected President, a person ceases to be a member of the National Assembly and, within five days, must assume office by swearing or affirming faithfulness to the Republic and obedience to the Constitution.

The President-elect will be inaugurated during a ceremony in Pretoria which, according to the Constitution, should take place within five days after the President’s election.

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Finidi George Resigns As Super Eagles Coach

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Newly appointed Super Eagles coach, Finidi George, has resigned his appointment,  according to a post by ex-Super Eagles media officer, Toyin Ibitoye on X.com on Saturday.

He wrote, “News just in. Finidi George #FinidiGeorge_FG has resigned from his #NGSuperEagles manager position.”

The resignation follows the Nigeria Football Federation’s (NFF) decision to appoint a foreign coach to oversee him, despite his recent appointment in May.

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Appeal Court Insists Amaewhule, 26 Others Not Members of Rivers House of Assembly

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The Court of Appeal in Abuja, on Friday, refused to set aside a judgment ordering the removal of Martins Chike Amaewhule and 26 others as members of the Rivers State House of Assembly.

Justice Charles Wali of the Rivers State High Court, Port Harcourt, on May 30 declared the seats of the 27 lawmakers who dumped the Peoples Democratic Party (PDP) to the All Progressives Congress (APC) in October last year vacant.

The judge, who delivered the ruling in a suit filed by the Speaker of the Assembly, Victor Oko Jumbo, and two others, also restrained Amaewhule from parading himself as Speaker of the Assembly.

Dissatisfied with the verdict, the aggrieved lawmakers approached the appellate court to set it aside.

However, at a virtual hearing of the matter on Friday, a three-member panel of the appellate court declared that the reversal of the lower court ruling would amount to pre-judging the appeal currently before it.

The panel, thereafter, fixed June 20 for the hearing of the appeal filed by the lawmakers in their quest to regain their seats in the Assembly.

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