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We don’t have capacity to print new notes – Emefiele

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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. .

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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

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Troops foil mass abduction attempt, rescue nine civilians

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Troops of Joint Task Force North West Operation FANSAN YAMMA (JTF NW OPFY) foiled an attempted mass abduction by terrorists in Unguwar Rogo Village, Kaura Namoda Local Government Area of Zamfara State, rescuing nine civilians, including an infant.

The incident occurred on 16 August 2026, when troops received a distress call that terrorists, believed to be led by suspected kingpin Mallam Shuaibu, had infiltrated the community and attacked civilians travelling along a local route.

Preliminary intelligence indicates that the attack may have been carried out in reprisal for the recent arrest of suspected collaborators linked to the terrorist network. The suspects had earlier been intercepted by troops while attempting to procure motorcycles and Premium Motor Spirit (PMS) in support of the terrorists’ activities.

In an apparent attempt to retaliate and abduct civilians, the terrorists concealed themselves within a millet farm along the route and opened fire on passing vehicles, causing some drivers to lose control and veer off the road.

Responding swiftly to the distress call, troops of Sector 2 moved to the area and decisively engaged the terrorists, denying them the opportunity to carry out the abduction. Faced with the troops’ superior response, the terrorists abandoned their mission and fled into the surrounding forest.

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Following the engagement, troops rescued nine civilians, including an infant. Two women who sustained gunshot wounds during the terrorists’ attack were promptly evacuated for medical attention and are currently receiving treatment.

Operation FANSAN YAMMA remains resolute in its determination to deny terrorists and other criminal elements the freedom to attack innocent citizens. The Joint Task Force will continue to sustain pressure on terrorist networks while taking all necessary measures to protect lives and restore lasting peace and security across the North West region.

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Edo Assembly Speaker Blessing Agbebaku resigns

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Edo ex-Speaker Blessing Agbebaku
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The Speaker of the Edo State House of Assembly, Blessing Agbebaku, has reportedly stepped down from his position.

His resignation came as reports emerged that some lawmakers were working on plans to impeach him from the speakership.

Agbebaku became Speaker of the 8th Edo State House of Assembly in June 2023 after lawmakers elected him to lead the chamber.

The former Speaker was originally
elected on the platform of the Peoples Democratic Party (PDP).

However, he later moved to the All Progressives Congress (APC) in 2025, joining other political figures who changed parties as political alignments in Edo continued to change.

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His reported resignation comes as political activities begin to build ahead of the 2027 general elections.

The development is likely to lead to new discussions among lawmakers and political leaders over who will take over the leadership of the Assembly.

The resignation could also affect the balance of power within the House, especially as lawmakers consider the next person to lead the chamber.

Members of the Assembly are expected to meet and take the necessary steps toward filling the vacant Speaker position.

The reason behind Agbebaku’s decision to leave office has not been made public.

It is also not yet clear whether his resignation is connected to recent political developments within the state or other issues involving the Assembly.

More information is expected to emerge as lawmakers react to the development and begin discussions on the next leadership of the Edo State House of Assembly.

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Sheikh Jingir: Christianity not subordinate to any religion in Nigeria — Pastor Enenche

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Pastor Dr. Paul Enenche
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• Says security agencies must act against provocative religious remarks

Senior Pastor of Dunamis International Gospel Centre, Pastor Paul Enenche, has declared that Christianity is not subordinate to any religion in Nigeria, while condemning comments linked to Islamic cleric Sheikh Yahya Jingir.

Speaking during the church’s Sunday service at its headquarters in Abuja, Enenche reacted strongly to the controversy generated by Jingir’s recent remarks, insisting that Christians could not be regarded as inferior to adherents of any other faith in the country.

The cleric described the suggestion that Christianity was secondary to another religion as unacceptable, arguing that Christians are present in large numbers across every part of Nigeria.

Enenche also warned against taking the Christian community for granted, maintaining that the church remains a significant force in the nation.

He criticised security agencies for failing to invite Islamic cleric, Sheikh Muhammad Jingir, over his recent comments advocating a Muslim-Muslim political arrangement in Nigeria.

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According to Enenche, security agencies should have acted against statements capable of provoking religious tension and violence in the country.

The pastor described as unacceptable the suggestion that Christianity should be regarded as subordinate to any other religion in Nigeria, insisting that Christians constitute a significant part of the country’s population.

He said, “Christianity is not secondary, and no group of religious fanatics will ever make it secondary. Not you, not any political group of people will ever make Christianity secondary to any.”

Enenche also questioned why security agencies had not invited the cleric for questioning over his comments, arguing that allowing individuals to make what he described as reckless statements without consequence could threaten national peace.

He said, “I blame security forces for allowing people to make reckless statements. You allow them still moving on the road, allow them still moving, not knowing that such a statement can incite instant violence.”

The pastor added that authorities should have taken steps to establish whether the comments could incite violence, rather than allowing the speaker to continue making such statements publicly.

“People are messing up and destroying the nation; they are walking free of charge, and they are talking,” he said.

Enenche further warned against taking the Christian community for granted, saying Christians had remained calm despite what he described as provocative statements.

“Nobody should take the church in this nation for granted. Don’t take the church for granted,” he said.

His comments followed controversy generated by the Chairman of the Ulama Council of Jama’atu Izalatil Bid’ah Wa’ikamatis Sunnah, Sheikh Muhammad Jingir, who recently advocated the continued adoption of a Muslim-Muslim presidential ticket.

Jingir had, at a special wedding reception organised by the Kano State Government for 1,500 couples whose weddings it sponsored, urged Muslims to vote in a manner that would demonstrate their numerical strength.

Amid reactions to his comments, Jingir told the BBC that he had no regret over his advocacy for a Muslim-Muslim presidential ticket, stressing that he had held the position long before the administration of President Bola Tinubu.

The comments have attracted reactions from various quarters, including the National Coordinator of the Obidient Movement Worldwide, Yunusa Tanko, and Nigeria’s Ambassador-designate to South Africa, Femi Fani-Kayode.

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