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We don’t have capacity to print new notes – Emefiele
Amidst the cash crisis bedevilling the country and the expectations of Nigerians that President Muhammadu Buhari would resolve the matter in seven days as promised, the governor of the Central Bank of Nigeria (CBN) has said the apex bank does not have the capacity to print adequate new naira notes.
Emefiele made the disclosure on Friday when he briefed the emergency meeting of the National Council of State, sources who attended the meeting told PREMIUM TIMES.
On Friday, Mr Emefiele told the leaders that the Nigerian Security Printing and Minting Plc (The Mint), suffers capacity constraints, resulting in the failure to print adequate new notes to replace the old N200, N500 and 1,000 notes.
“The Mint has run out of papers to print N500 and 1,000 notes. They have placed orders with a German firm and De La Rue of the UK (for papers) but they have been placed on a long waiting list, so their orders cannot be met now.
“The Mint had received CBN’s request to print 70million copies of the new notes, totalling N126billion to be pumped into circulation by today (yesterday), The Mint doesn’t have the capacity,” a source said. .
Meanwhile, Mr Buhari was non-committal at the meeting and barely spoke, the source added. He left the meeting as the time for the Muslim’s Jummah prayer drew close and his deputy, Vice President Yemi Osinbajo, took over.
Osinbajo said the president would take a decision
Meanwhile, seven days after President Muhammadu Buhari promised to address the cash crisis that hit the country following the naira redesign and old notes swap policy of the Central Bank of Nigeria (CBN), the new and old naira notes have remained elusive, Daily Trust Saturday reports.
Last December, the Godwin Emefiele-led CBN introduced the new notes amid efforts to fight corruption, terrorism, counterfeiting and related crimes, with a January 31, 2023 deadline.
However, Nigerians have had a hard time getting the new notes amid scarcity and rising tension across the country, forcing the apex bank to extend the deadline by 10 days, which was due yesterday, February 10.
President Buhari had on February 3 implored Nigerians to give him seven days to resolve the cash crunch that has become a problem across the country from the policy of the CBN.
The president made the call while speaking to the Progressive Governors Forum (PGF) who paid him a visit to seek solutions to the cash crunch, which they said was threatening the good records of the administration in transforming the economy.
Buhari, in a statement by his spokesman, Malam Garba Shehu, noted that he had seen television reports on cash shortages and hardship to local businesses and ordinary people and gave assurances that the balance of seven of the 10-day extension would be used to crack down on whatever stood in the way of its successful implementation.
There has been a flurry of suits at the Supreme Court by some state governors, challenging the apex bank’s policy over the hardship the policy has brought on the people.
The apex court had issued an order asking the CBN and the federal government not to go ahead with the implementation of the policy pending the determination of substantive suits before it.
No respite, 7 days after
But seven days after Buhari’s assurance, Nigerians have expressed disappointment over his inability to resolve the issue as long queues persist in banks across the country.
A meat seller at Agege, Lagos, Shakiru Alabi, said he knew President Buhari was not going to solve the problem within seven days.
He said, “From his body language, Emefiele is working for him. I was not expecting him to do anything. He should come to Lagos and see how people are suffering to get their money. People will leave their work to queue at banks from 5am to collect N2,000,” he lamented, saying the situation has drastically affected their business.
For Comrade Yusuf Ibrahim Yara, a resident of Kurna in the Dala Local Government Area of Kano State, the promise by the president failed due to improper coordination in his team.
Yara said he would not blame the president alone for the failure but his cabinet, who he said failed to understand and believe in the suffering Nigerians are facing as a result of the policy.
Another resident of Kano State, Abdullahi Usman, an engineer, said people had already given up and didn’t put much expectation on the promise by the president.
“I think the government lacks the sincerity of purpose. Instead of improving the economy, it has brought hardship,” he said.
Re-circulate old naira, Council of State tells CBN
The Council of State yesterday backed the new currency redesign policy but advised the CBN to ensure the availability of naira notes to douse tension and ameliorate the suffering of citizens across the country.
The Attorney General of the Federation and Minister of Justice, Abubakar Malami, governors Darius Ishaku of Taraba State and Babajide Sanwo-Olu of Lagos State, as well as the Special Adviser to the President on Media and Publicity, Femi Adesina, briefed State House reporters on the key issues after the Council meeting at the Presidential Villa, Abuja.
Malami, who gave a summary of the meeting said, “The two major resolutions that were driven, arriving from the deliberations of the Council, are that we are on course as far as elections are concerned and we are happy with the level of preparation by the Independent National Electoral Commission (INEC) and the institutions.
“Also, the naira redesign policy stands, but the Council agreed that there is the need for aggressive action on the part of the CBN as it relates to implementation, by ensuring adequate provision with regard to the supply of the naira to the system.”
Also, Governor Ishaku said members of the Council of State advised President Buhari, who chaired the meeting, to ensure that the CBN makes provision for the availability of naira notes in the country to cater for the needs of the poor.
He said deliberations on the new currency redesign policy took more time because of hardship across the country.
Ishaku said members of the Council mostly expressed concern over the implementation of the policy after a briefing from the governor of the CBN, Godwin Emefiele.
He said the CBN governor was advised to make new naira notes available or re-circulate old ones to ease the suffering of Nigerians.
He, however, added that the president would take a final decision, having received advice from members of the Council of State.
Daily Trust
The Nigeria Security and Civil Defense Corps (NSCDC) has deployed no fewer than 2,527 personnel for the upcoming Enugu State Local Government Elections scheduled for Saturday, Sept. 26.
The Commandant of NSCDC Enugu State Command, Dr Elijah Willie, told newsmen on Thursday in Enugu that those deployed included uniformed and plain cloth officers and men.
Willie noted that the Corps would strategical deploy seven vehicles for the Area Commanders, four additional van trucks, other vehicles for operational support staff for monitoring, while the commandant vehicular team would be on duty.
According to him, the command is ready for the council elections and we have been preparing ahead of time for it.
He said, “I have met the Corps management staff, Area Commanders, Divisional Corps Officers, head of special squad units and heads of departments on the election for sometime now.
“They have been briefed and oriented on their roles and responsibilities.
“We have developed an operational modules for the election, having received that of the police.
“The command will extend the same operational modules and its instructions down to officers and men in divisional areas and wards in order to ensure all officers and men work according to instruction.
“The command also directed officers and men to be firm carrying out their election duties while being civil and ensure due respect for human rights.”
He revealed that due to the council polls, the command and sister security agencies had been raiding criminal black spots and flashpoints in the state to ensure the state remained calm during the election.
The commandant urged residents to feel free and come out to exercise their franchise, while voting for the candidate of their choice without fear or favour.
“The NSCDC and other sister security agencies are assuring residents of a peaceful, violence-free and fair election as we are highly prepared to ensure a hitch-free and successful election.
“Miscreants are also warned to steer clear of the state and the election as there will be no room or space for them to operate.
“They should also be reminded that their activities are being tracked with statewide technology that will easily spot them out,” he said.
Willie noted that the NSCDC had also put in place other vintage security measures for the election, which might not be appropriate for the press.
It would be recalled that the Enugu State Independent Electoral Commission (ENSIEC) had scheduled a statewide elections into the 17 Chairmanship and 260 Ward Councillorship positions in the state on Saturday, Sept. 26.
Security agencies in Enugu State have assured residents of the state of a peaceful, hitch-free and credible Local Government Election upcoming on Sept. 26.
Speaking on behalf of other security agencies after a security meeting on the elections on Thursday, the state Commissioner of Police, Mr Mamman Giwa, said that the election security arrangement had been concluded.
Giwa noted that the security agencies had put in place firm and robust strategies to ensure a peaceful, hitch-free and credible election on Sept. 26.
He said that the security agencies had made robust plans to take care of flashpoints and ensure no miscreant do anything to violate electoral rules.
According to him, we have planned to give the residents of Enugu State a very successful and peaceful election that they will be proud of.
“We have put our heads together to come out with formidable strategies for the conduct of the election.
“Our officers and men from various security agencies will be everywhere to ensure safety for all residents and people come out to cast their vote without fear or favour.
“The security agencies have vowed to ensure peace before, during and after the election and respond swiftly to any perceived incident that will be a threat to the election,” he said.
The commissioner said that so far there had been no threat to the election, while the security agencies had deployed adequate intelligence to ensure any threat is taken care of proactively.
Giwa urged those who would want to protect their votes after going to the ballot to do it with civility and decorum, while respecting electoral rules.
Speaking, the Executive Chairman of Enugu State Independent Electoral Commission (ENSIEC), Prof. Christian Ngwu, said that ENSIEC was “very ready” for the election after “due and proper” arrangement.
Ngwu said that security agencies had assured residents adequate security with all their officers and men on ground before, during and after the election.
“They have assured the commission to deal decisively with any threat or persons that intend to cause trouble or create problem for election officials or electorate.
“We are anticipating a successful, hitch-free, transparent and credible election on Saturday.
“ENSIEC want eligible voters to come out en masse with their voters cards to cast their votes and elect their preferred candidates,” he said.
It would be recalled that ENSIEC had scheduled polls for the 17 Chairmanship and 260 Ward Councillorship positions in the state for Sept. 26.
The chairman also urged electorate to be free to defend their votes, adding,: “But you should not cause any trouble while doing that”.
The other security agencies that attended the meeting included: Nigerian Army, Nigerian Air Force, Nigerian Navy, the Nigeria Security and Civil Defense (NSCDC) and Department of State Security (DSS).
The rest are: the Federal Road Safety Corps (FRSC), Nigeria Correctional Service, Nigeria Immigration Service, Nigeria Customs Service, Federal and State Fire Service and the Forest Guard among others.
Former Deputy Speaker of the House of Representatives and Chairman of the Governing Board of the South-South Development Commission, SSDC, Chibudom Nwuche, has urged the Federal Government to grant amnesty to repentant cultists and militant youths in the Orashi area of Rivers State who are willing to lay down their arms and embrace peaceful and productive lives.
Nwuche also called for the rehabilitation, reorientation and reintegration of such youths into society, saying the initiative would help restore peace and security to the troubled communities.
The Orashi area comprises Ahoada East, Ahoada West, Abua/Odual and Ogba/Egbema/Ndoni local government areas of the state.
Nwuche made the appeal through his representative, Chief Kingdom Ajugo, at the commencement of the 2026 Upata Folklore, Ele, at Ula Upata, Ahoada East Local Government Area, on Tuesday.
He expressed concern over the deterioration of security in Ahoada and other parts of the Orashi region, saying the area had witnessed killings and various forms of criminality.
He recalled the gruesome killing of the then Divisional Police Officer, DPO, late CSP Bako Amgbashim, whom he described as a dedicated, intelligent and gallant police officer.
According to him, several appeals have been made to Rivers State government for an amnesty programme for repentant youths in the area, with no action taken.
Nwuche, therefore, appealed to the federal government, particularly the Office of the National Security Adviser, ONSA, headed by Mallam Nuhu Ribadu, to consider an amnesty programme for repentant cultists and violent youths.
He said the programme should include proper rehabilitation, reorientation and reintegration measures to enable beneficiaries become productive members of society.
He also appealed to youths still involved in cultism, kidnapping, robbery and other criminal activities to abandon violence and embrace legitimate livelihoods.
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“Those who are still carrying guns and killing our people indiscriminately should stop and accept amnesty and be ready to be reintegrated into society,” he said.
Nwuche said the predominantly farming and trading Ekpeye people should be able to carry out their legitimate businesses without molestation, harassment or fear.
He said hundreds of Ekpeye people had lost their lives to cultism and related violence over the years, declaring that the situation must end.
He urged traditional rulers, community leaders, government and the people to work together to restore peace, insisting that Ekpeye land could no longer be allowed to become a haven for criminals.
Urges Ekpeye unity
Nwuche also urged Ekpeye traditional rulers to provide exemplary leadership and work together to advance the interests of the people.
He appealed to the people of Upata to support their monarch, Eze (Dr.) Felix E. Otuwarikpo, Eze Igbu Upata III, and preserve the cultu ral heritage of the kingdom.
He described the annual Upata Folklore as an important platform for promoting unity, culture and hospitality among the people.
The monarch had earlier declared the 2026 celebration open, describing it as an enduring tradition through which the people celebrate their culture and heritage following the harvest season.
Use your votes wisely in 2027
On politics, Nwuche urged the people of Ekpeye to vote wisely in the 2027 general elections, saying they should support politicians who had demonstrated commitment to the development of the area.
“We have seen and known all those seeking our votes, and I will therefore urge you not to waste your votes but to support those who have shown attention and developed Ekpeye land,” he said.
Nwuche also spoke in support of President Bola Tinubu’s second-term bid and the political platform associated with FCT Minister and former Rivers State governor, Nyesom Wike.
He said he would, at the appropriate time, tour Ekpeye and the wider Orashi region to mobilise support for the political coalition led by Wike.
He recalled projects executed during Wike’s tenure as Rivers State governor, saying they remained significant to the development of Ekpeye land.
The event attracted traditional rulers, chiefs, community leaders, women and youth groups, students and representatives of Ahoada East and Ahoada West local governments. It featured cultural displays, traditional dances, goodwill messages and presentation of gifts to the monarch, chiefs and participants.
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