Headlines
Parties Lament Cash Withdrawal Limits, Say Move Will Cripple Campaign Funding
Political parties have kicked against the new cash withdrawal limits introduced by the Central Bank of Nigeria, stating that it could choke the political process.
Parties including the Peoples Democratic Party, Social Democratic Party, Africa Democratic Congress and African Democratic Party contended that the policy would affect the fundraising required by the candidates to sustain their campaigns ahead of the 2023 elections.
Also, speaking in separate interviews with The PUNCH on Sunday, the African Action Alliance, Zenith Labour Party, and the All Progressives Grand Alliance declared that it would impact the poor rural dwellers.
Governor Ahmadu Fintiri of Adamawa State had accused the CBN Governor, Godwin Emefiele, of targeting the political class with the new cash withdrawal limit which restricts over-the-counter cash withdrawal by individuals and companies to N100,000 and N500,000, respectively, per week.
It also limited point-of-sale machines and automated teller machine withdrawals to N20,000 daily.
According to a memo signed Tuesday by the CBN’s Director of Banking Supervision, Haruna Mustafa, withdrawals above the thresholds would attract processing fees of five per cent and 10 per cent, respectively, for individuals and corporate entities going forward.
In addition, third-party cheques above N50,000 shall not be eligible for OTC payment while extant limits of N10m on clearing cheques still remain.
The circular also directed banks to load only N200 and lower denominations into their ATMs and restricted withdrawal to N20, 000 per day from ATMs.
The policy, which will become effective on January 9, 2023, has generated criticisms but the CBN clarified on Wednesday that PoS operators could apply for waivers.
The Punch
Call it the eating of a humble pie, and you may not be wring as the embattled Deputy Governor of Edo State, Philip Shaibu, apologised to Governor Godwin Obaseki amid a face-off between them.
Speaking to reporters on Thursday in Benin City, Mr Shaibu appealed to Governor Obaseki to forgive his “mistakes” for them to continue to work together, Channels TV reported.
“I use this medium to appeal to Mr Governor, if there is anything that I don’t know that I have done, please forgive me so that we can develop our state together,” he said.
“We have just one year to go. We have been the envy of the entire country. So, Mr Governor, if there is anything you feel that I have done, please I am sorry. I need us to work together to finish well and strong,” the deputy governor added.
When asked if he had resumed at his new office, Mr Shaibu said, “We have resumed but there is still a lot of work to be done there.
“There is no problem about it. The governor has asked us to go there. Like I have always tried to prove, I am a loyal servant and nothing has changed.
“I took a personal vow to support my governor and you can see my Catholic people are here. When I took a vow with God, nothing can change it and I wish that the relationship that we had will come back in the next few days and weeks.”
Mr Shaibu also said he has been missing the governor since their rift began, and expressed hope that God will “touch the governor’s heart” to forgive him.
“I mean well. If there is any mistake I have made as a human, it is not out of wickedness because I know I’m not wicked. I have a very clean heart.”
The Federal Capital Territory FCT Minister, Nyesom Wike, has announced the revocation of 167 plots of land in some highbrow districts of the nation’s capital, Abuja.
Areas affected are Maitama, Gudu, Wuye which had the highest revocation, 41; Katampe, Katampe Extension, Wuse 2, Jabi, Utako, Idu Industrial zone, and Asokoro which had the second highest revocation, 39.
In a notice issued Thursday night in Abuja, the administration said the plots were revoked due to the refusal or failure of their allottees to develop them.
“The Federal Capital Territory Administration FCTA hereby informs the general public that the Minister of the Federal Capital Territory has, in the exercise of the powers conferred on him under Section 28(5)(a) & (b) of the Land Use Act 1978, revoked the underlisted plots with names and titles as reflected in our records for continued contravention of the terms of development of the Right of Occupancy to wit non-development”, the administration said in the notice signed by the Permanent Secretary, Mr Olusade Adesola.
Some of the plots revoked in Maitama district A05 had names like Liyel Imoke, Musa Aboki Egu, Hassan Hadejia and Ishaya Baba.
In Jabi, some of the plots revoked had allottees such as Sam Nda-Isaiah, and Donubari Josephine Kogbara, while Katampe district had Peter Gregory Obi, BUA international among others.
In other areas, this revoked had names as Julius Berger Nigeria, Honeywell Construction, Uffot Joseph Ekaette, Shittu Mohammed, Udoma Udo Udoma, Kanu Agabi, Niki Niki Tobi, Ishaku Bello, and others.
Wike had on assumption of office vowed to restore the master plan of the territory and revoke plots that had not been developed or those whose ground rents have not been paid for years.
He had consequently given a two-week grace to allottees to pay their ground rents or risk revocation of their allocations.
Vanguard
President Bola Tinubu has appealed against the ruling of Judge Jeffrey T. Gilbert, sitting at the United States’ District Court of Northern Illinois which ordered the Chicago State University (CSU) to release all relevant records pertaining to him.
SaharaReporters had reported how the federal court in Chicago, while ruling on the civil case filed by Atiku Abubakar, on Tuesday granted the applicant’s request to the court, stating that former Nigeria’s vice-president had been able to sufficiently satisfy the purpose for seeking the records.
In the judgement documents seen by SaharaReporters on Wednesday, Judge Jeffrey Gilbert also ordered a deposition of designated CSU officials within two days after the records have been released, noting further that the process can be conducted during the weekend if necessary.
However, as the school prepared to surrender the papers, Tinubu filed an emergency motion in the district, requesting a higher judge to reconsider Mr Gilbert’s September 19 ruling and postpone the execution until at least September 25, according to People’s Gazette.
“Due to the timing for compliance by Chicago State University – later today – Intervenor is filing this motion separately from its challenge to the Magistrate’s ruling on the application,” Mr Tinubu’s lawyers, led by Christopher Carmichael, said. “Intervenor intends to file, by the end of the day, a substantive brief addressing the errors in the Magistrate’s decision.”
