
News
New naira: Gbajabiamila faults Buhari, Emefiele over CBN policy
The Speaker of the House of Representatives, Femi Gbajabiamila, has criticised the declarations made by President Muhammadu Buhari on new and old naira notes in a national broadcast on Thursday morning as negating the ruling by the Supreme Court.
Gbajabiamila, while commending the President for his intervention, stated that the Supreme Court had ruled that the old N1,000, N500 and N200 notes remain legal tender.
“It is not to the benefit of our country for the Federal Government to act in ways that suggest a wanton disregard for the rule of law,” he stated.
The speaker, in a statement issued on Thursday, which he personally signed, said Governor of the Central Bank of Nigeria, Godwin Emefiele, had failed to publicly admit error in the monetary policy of the apex bank.
Buhari had while addressing the nation said the old N500 and N1,000 banknotes were no longer legal tender in the country. He, however, 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 CBN.

Gbajabiamila said, “Today, citizens and visitors are experiencing grave and unnecessary hardship across our country. They spend hours and days queuing at banks and teller machines to receive stipends of their own money to afford life’s necessities. This situation is a consequence of the flawed implementation of the naira redesign policy by the Central Bank of Nigeria. It is also the result of decisions made by the Central Bank’s Governor, Mr Godwin Emefiele, to refuse counsel, be guided by precedent or abide by the decisions of superior courts.
“Section 20(3) of the Central Bank of Nigeria Act, 2007 provides the statutory authority for the Central Bank of Nigeria to initiate and implement policies for the recall of Nigerian currency. The extant provision is reproduced below: Notwithstanding subsections (1) and (2) of this section, the Bank shall have power, if directed to do so by the President and after giving reasonable notice in that behalf, to call in any of its notes or coins on payment of the face value thereof and any note or coin with respect to which a notice has been given under this sub-section, shall, on the expiration of such notice cease to be legal tender, but, subject to section 22 of this Act, shall be redeemed by the Bank upon demand.”
The Speaker noted that there are three conditions precedent for the CBN to recall existing naira notes. According to him, the first is that the permission of the President must be obtained, and the second is that reasonable notice shall be given, and the third is that the apex bank shall pay the face value of the recalled currency upon receipt.
“Whereas reasonable people may disagree as to whether sufficient notice was given for the implementation of this policy, it is evident that the CBN has failed woefully in its statutory obligation to pay the face value of the recalled currency in the form that is useful to the citizens whose current suffering could have been avoided,” he stated.
Gbajabiamila added that the scarcity of cash is happening “because the CBN did not sufficiently replace the old currency it pulled out of circulation across the country.” According to him, this created an artificial scarcity that “put significant additional pressure on the already epileptic electronic banking channels, resulting in a near-complete collapse of trade in the country.” He stressed that businesses cannot operate as neither they nor their customers have access to cash while the electronic banking platforms “appear to have uniformly collapsed.”
The statement further read, “It is unclear what interest is served by persisting in this erroneous course towards an unfolding economic disaster that the country cannot afford. The ongoing devastation of livelihoods is bound to have consequences long after this moment has passed.
“It is disheartening that the CBN has resolutely refused to admit error and change course in the face of mounting evidence that the implementation of this policy has been a devastating failure. It is deeply troubling that neither the intervention of the National Council of State nor an order of the Supreme Court 1s sufficient to cause the Governor of the CBN to review the decisions that have brought us to this entirely avoidable moment.
“This morning, President Muhammadu Buhari, GCFR, announced that he has authorised the Central Bank of Nigeria (CBN) to reintroduce the old N200 notes into circulation, pending when the Bank can make sufficient amounts of the new currency available. This is a step in the right direction and I hope it helps curb Nigerians’ suffering. However, the decision still falls short of the order of the Supreme Court that the old currencies remain legal tender pending the adjudication of a pending suit brought by state governments on the legality of the policy and its implementation. It is not to the benefit of our country for the Federal Government to act in ways that suggest a wanton disregard for the rule of law. It will be better for us to strictly adhere to the court’s order in this matter pending the adjudication of the substantive suit.”
Also reacting to the presidential directive, a lawyer Rilwan Okpanachi, described the action taken by the President to announce the extension as “a regrettable and avoidable contempt of court”. He regards the action as “contemptuous” of the order of the Supreme Court.
“The Supreme Court order is specific and restricted the CBN, Federal Government and even the commercial banks from countering the February 10 deadline. This means that by the order, the N200, N500 and N1000 notes remain legal tender, and the President lacks the power to extend such.
“The President lacks the power to override the order of the Supreme Court,” Okpanachi said.
News
Police rescue kidnap victim, kill suspect after gun duel in Enugu forest
The Enugu State Police Command has rescued a kidnapped woman and neutralised a suspected kidnapper during an intelligence-led operation in Okpuje, Nsukka Local Government Area of the state.
The operation, which took place on Friday, July 31, 2026, was launched after police received a distress call at about 10:10 a.m. reporting that armed kidnappers had emerged from a nearby forest and abducted a woman along Anuka Road, Okpuje.
According to a statement issued on Saturday, August 1, 2026, by the Police Public Relations Officer, SP Daniel Ndukwe, operatives of the Okpuje Police Division immediately mobilised alongside Forest Guards and members of the Neighbourhood Watch to trail the kidnappers.
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The security team tracked the suspects into the Anuka forest near the Enugu-Kogi State boundary, where they engaged the gang in a gun battle.Time & Calendars
During the exchange of gunfire, one of the suspected kidnappers was killed, while other members of the gang escaped into the forest with suspected gunshot wounds.
The police said the abducted woman was rescued unhurt, while her two children and motorcycle, which the kidnappers abandoned at the scene, were also recovered.

“The victim and her children have since been reunited with their family, while efforts have been intensified to track down and arrest the fleeing suspects,” the statement said.
Reacting to the successful operation, the Commissioner of Police, Enugu State Command, CP Mamman Bitrus Giwa, commended the police operatives, Forest Guards and Neighbourhood Watch members for their swift response and effective collaboration.
He reaffirmed the command’s determination to sustain intelligence-driven operations aimed at combating kidnapping and other violent crimes across the state.
The police commissioner also urged residents to remain security conscious and continue supporting law enforcement agencies with credible and timely information.
CP Giwa said the command remains committed to protecting lives and property through proactive policing and strengthened collaboration with local security stakeholders.
News
Army rescues kidnapped Lieutenant Colonel, civilian in Enugu
Troops of the Nigerian Army have rescued a kidnapped senior military officer, Lt. Col. Ofor Amobi, and a civilian, Mr Ikechukwu Onwuanra, after a 10-day joint search-and-rescue operation in Enugu State.
This is contained in a military operational report made available to the News Agency of Nigeria (NAN) on Saturday in Abuja.
The military said the victims were rescued in the early hours of Friday, following sustained pressure on their abductors.
The military said troops of Sector 1 of Operation UDO KA, comprising personnel of the 82 Division Garrison, 103 Battalion (Reinforced), the Nigerian Navy Special Boat Service and the 197 Special Forces Battalion, carried out the operation.
It said the troops, led by the Commander, 82 Division Garrison, conducted intensive searches across Inyi, Awlaw and Akpugo-Eze forests and communities in Oji River Local Government Area of Enugu State.

According to the report, troops received intelligence from the Divisional Police Officer of Inyi Division at about 2:00 a.m. on Friday on the whereabouts of the victims.
It said the troops immediately launched a fighting patrol to the location where the victims were found abandoned at the edge of a forest in Inyi.
The military said both victims had sustained gunshot wounds and were rescued before being evacuated to the 82 Division Medical Hospital for treatment and medical evaluation.
It added that preliminary interrogation revealed the victims had been blindfolded, transported to an unknown location and later abandoned within a forest along the Enugu-Anambra border.
“The victims attributed their rescue to the sustained pressure mounted by the joint troops, which denied the kidnappers freedom of movement and compelled them to abandon their captives,” it said.
The military said further details on the operation would be made available later.
(NAN)
News
Gunmen invade Catholic Bishop’s residence in Benue, abduct Seminarian
Armed men have reportedly abducted a Catholic seminarian, Mr. Kelvin Ochai, after invading the residence of a Catholic bishop in Otukpo Local Government Area of Benue State.
The attack reportedly occurred on Wednesday, July 29, when the gunmen stormed the Bishop’s residence located in the Asa III area of Otukpo, sparking concern within the Catholic community.
The incident was confirmed in a statement issued on Friday by the Chancellor of the Catholic Diocese of Otukpo, Rev. Fr. Joseph Aboyi Itodo.
According to the statement, the kidnappers made away with the seminarian, Mr. Kelvin Ochai, while details surrounding the attack and the circumstances of his abduction remain unclear.
The Diocese disclosed that the Catholic Bishop of Otukpo, Most Rev. Michael Ekwoyi Apochi, expressed deep sorrow over the incident and called on members of the Church and the general public to pray for the seminarian’s safe return.

Describing the abduction as a painful development, the bishop appealed to all Christ’s faithful in the Diocese of Otukpo, as well as people of goodwill, to unite in prayer for the victim and others being held captive across the country.
“The Bishop, who is deeply saddened by this unfortunate development, calls on all Christ’s Faithful in the Catholic Diocese of Otukpo and all people of goodwill to earnestly pray for the seminarian’s quick and safe release,” the statement read.
The Diocese further entrusted the abducted seminarian and all other kidnapping victims in Nigeria to the intercession of the Blessed Virgin Mary.
“We commit our brother and all those in the kidnappers’ den throughout the country to the powerful intercession of the Blessed Virgin Mary for their speedy and safe release from the hands of their abductors,” the statement added.
As of the time of filing this report, security agencies had not released an official statement on the attack, and it remains unclear whether contact has been established with the kidnappers or if any arrests have been made.
The latest incident adds to growing concerns over insecurity in parts of Benue State and the increasing number of attacks targeting religious institutions and clerics, prompting renewed calls for stronger security measures to protect lives and property.
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