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Naira redesign plot to install interim govt to be led by retired general – El-Rufai
The Kaduna State Governor, Nasir El-Rufai, on Thursday described the current scarcity of naira notes as part of an alleged plot to disrupt the forthcoming general elections to ensure an interim government takes over.
The governor made the allegation in a state broadcast.
He alleged that the development was meant to ensure that the presidential candidate of the ruling All Progressives Congress, Bola Tinubu, and other candidates of the party lose.
He claimed that those who lost out in the party’s primaries were behind the plot.
He said, “It is important for the people of Kaduna State, and indeed Nigeria, to know that contrary to the public pronouncements and apparent good intentions, this policy was conceived and sold to the President by officials who completely lost out in the gubernatorial and presidential primaries of the APC in June 2022.
“Once Asiwaju Bola Tinubu emerged as the candidate in June 2022, and subsequently did not pick one of them as his running mate, this currency redesign policy was conceived to ensure that the APC presidential candidate is deprived of what they alleged is a humongous war chest.
“They also sought to achieve any one or more of the following objectives: create a nationwide shortage of cash so that citizens are incited to vote against APC candidates across the board resulting in massive losses for the party in all the elections; ensure that the cash crunch is so serious, along with the contrived and enduring fuel shortage existing since September 2022, that the 2023 elections do not hold at all, leading to an Interim National Government to be led by a retired Army General; sustain the climate of shortage of fuel, food and other necessities, leading to mass protests, violence and breakdown of law and order that would provide a fertile foundation for a military take-over.”
In pursuit of the objectives, El-Rufai claimed the Central Bank of Nigeria and those he described as “other disgruntled federal officials” had convinced the President that it was fine for ordinary citizens to be dispossessed of their hard-earned money, and starved if need be, while small and medium-sized businesses were deprived of access to their capital, thereby bringing trade and exchange to a grinding halt.
He said all efforts by state governors to modify the implementation of the policy to avoid what they assumed were unintended consequences were unsuccessful.
El-Rufai said politicians that the officials had convinced the President to regard as the real targets of the currency redesign policy have not been impeded in any way by it so far.
He added, “Indeed, two of the presidential candidates and a running mate of the opposition parties own or have preferred access to some of the licensed banks. For that reason and by various clandestine arrangements, these politicians have access to hundreds of millions of these new notes, while the traders, merchants, students and other citizens are queuing for days to withdraw a few thousand naira just to buy food and necessaries.
“Within two to three weeks of implementation, it was clear to everyone that the architects of this policy can see that it is our people that are being affected and not the politicians. It is quite unfortunate that many politicians who either own banks or have privileged access to money are so insulated from the pains of talakawa that they are recklessly endorsing a policy that is being badly implemented.”
The governor said there was no reason why the old and new notes should not coexist until the old notes are gradually withdrawn over the years as it is done in the United Kingdom, Saudi Arabia and other countries.
El-Rufai faulted the position of the President on the matter, saying, “The address by the President earlier this (Thursday) morning limiting the legal tender status of old notes to only N200 amounts to total disregard and disobedience of the ruling of February 8 which was extended further yesterday (Wednesday) by the Supreme Court.
“The misguided action of the Attorney-General to mislead the President into engaging in this public violation of the order of the highest court of the land shows how desperate the policy architects are to cause national chaos, by showing open contempt for the judiciary.
“The decision to recognise only N200 as legal tender till April that the President announced this morning was offered to the state governments as part of proposals for an out-of-court settlement three days ago.”
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Sanwo-Olu, Lai Mohammed, Gbenga Daniel to discuss 2027 elections, insecurity at 7th Freedom Online lecture
Challenges facing the economy and insecurity, especially associated with elections in a developing economy like Nigeria, will be the focus of discussion at the seventh yearly lecture of Freedom Online (www.freedomonline.com.ng) on September 3 in Lagos.
Freedom Online, according to a statement by its Managing Director/Editor-in-Chief, Gabriel Akinadewo, is focusing on how to tackle insecurity during the lecture “because it has become a monster, threatening to consume the nation-state called Nigeria.
“What does the future hold for Nigeria after the 2027 general elections? How will the election be conducted in a way that will be acceptable to all? Will the outcome lay a solid foundation for the future of the country?
“We believe that actions of politicians, security agents and INEC officials, before, during and after the election will, one way or the other, decide the fate of the more than 200 million Nigerians in this geographical space. Obviously, insecurity, part of which is thuggery during elections, leads to poverty, underdevelopment and other social vices. Nigeria’s political, economic and social fabric is disintegrating because of this time bomb and the outcome of the election will go a long way to decide Nigeria’s future in global affairs”.
Akinadewo said Governor Babajide Sanwo-Olu of Lagos State is the Special Guest Speaker while former Information & Culture Minister, Alhaji Lai Mohammed and former Ogun State Governor, Senator Gbenga Daniel, are the Chairman and Special Guest of Honour respectively.
The President of the Nigerian Guild of Editors (NGE) and Editor of Vanguard, Eze Anaba, is the Chief Host.
…Property Enumeration App to drive new land revenue regime
The Enugu State Internal Revenue Service (ESIRS) has announced a drastic reduction in land use charges payable by property owners across the state as part of measures to encourage tax compliance and broaden the state’s revenue base.
The Chairman of ESIRS, Mr Emmanuel Ekene Nnamani, disclosed this on Monday while briefing journalists on the activities and achievements of the agency in its three years under his leadership.
Under the revised arrangement, property owners in Independence Layout now pay N70,000 annually, while those in Abakpa pay N20,000. Owners of village houses, according to Nnamani, will pay N10,000 annually as land use charge.
Nnamani also announced plans to commence the implementation of a Property Enumeration App, which will facilitate the identification and enumeration of properties across the state and provide a database for the assessment and collection of land use charges.
He said students would be engaged to participate in the enumeration exercise, with each student expected to receive payment on a weekly basis, based on the number of houses enumerated.
According to him, the initiative would help ESIRS establish an accurate property register while creating opportunities for students to earn income through the exercise.
Nnamani explained that the Property Enumeration App would assign identification to properties and their owners, making it easier for the government to determine taxable properties and improve compliance.
He said the exercise was part of ESIRS’ broader strategy to expand the tax net and bring previously untapped sources of revenue into the formal revenue system.
The ESIRS chairman said the agency was also expanding its revenue collection activities to o other areas including haulage fees, land use charges, capital gains tax, stamp duties and withholding tax.
He disclosed that withholding tax would soon become operational in the state, urging individuals and organisations required to deduct the tax to ensure that the deductions were properly remitted to the government.
Giving an insight into the performance of ESIRS under his leadership, Nnamani said the agency had recorded a significant increase in internally generated revenue since 2023.
He said the state generated N37 billion in 2023, rising to N108.5 billion in 2024, while revenue increased substantially to N406.7 billion in 2025, representing tax and non-tax revenues.
Nnamani attributed the growth to the reforms introduced under Governor Peter Mbah’s administration, particularly the autonomy granted ESIRS and the deployment of technology for revenue collection.
He said the agency inherited a system characterised by poorly motivated personnel and fragmented revenue collection, but the autonomy granted by the state government enabled ESIRS to embark on fundamental reforms.
“Our Governor came with disruptive innovation and now it is time to give account,” Nnamani said.
He explained that the autonomy granted to ESIRS was backed by legislation, transforming the agency into a one-stop shop for revenue collection in the state.
According to him, ESIRS moved away from a mono-payment gateway operated through Interswitch and expanded the system to seven payment gateways, including UPS and Flutterwave.
He said taxpayers could now make payments through banks, transfers and more than 300 Point-of-Sale (POS) terminals, including from the comfort of their homes and even during weekends.
The development, he said, had significantly improved convenience and reduced opportunities for revenue leakages.
Nnamani said the agency also embarked on extensive training of its personnel and declared an emergency in which every staff member was required to have access to a laptop or tablet.
He added that ESIRS invested in reliable internet connectivity and solar energy to ensure that its operations were not disrupted by power challenges.
The ESIRS chairman said the agency had also banned cash payments as part of measures to strengthen transparency and accountability in revenue collection.
He said several revenue agencies that previously operated independently had been unbundled and brought under a centralised system, while ESIRS collaborated with relevant unions and revenue agencies to improve its operations.
According to him, the reforms were particularly significant in the informal sector, where revenues were previously paid to non-state actors before the new system was introduced.
Nnamani urged residents and businesses to familiarise themselves with the state’s tax laws, stressing that the agency was not interested in imposing arbitrary taxes but in ensuring compliance with existing legislation.
He said the law provides for certain exemptions, but taxpayers seeking exemption must undertake the required tax filing.
He noted that ESIRS was currently not implementing some provisions of the tax law to their full extent, citing the provision requiring the payment of one per cent of turnover in certain circumstances.
“We are only collecting N36,000 and people are complaining. I’m a tax collector and you have to convince me why you should not pay,” he said.
He urged taxpayers to study the tax laws and understand their obligations rather than evade payment.
The ESIRS boss further disclosed that the state was collecting Development Levy from new construction projects, noting that between 20 and 25 new buildings were being commenced daily across the state.
He said the levy was N150,000 in Enugu North Local Government Area, N100,000 each in Enugu South and Enugu East, N80,000 in Nsukka, while the rate for other local government areas stood at N50,000,”and you must pay to be permitted to commence development of the property”.
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He said ESIRS was also strengthening the collection of capital gains tax, particularly from property transactions, as well as stamp duty.
Nnamani maintained that the objective of the reforms was to create a sustainable and transparent revenue system capable of funding government programmes without placing undue pressure on taxpayers.
The chairman also dismissed concerns that the ongoing tax reforms were designed to frustrate businesses, particularly Igbo traders.
He said the forthcoming implementation of enhanced tax-compliance measures at both the federal and state levels should not be misconstrued as an attempt to shut down businesses.
According to him, the reforms are aimed at ensuring that individuals and businesses fulfil their statutory tax obligations.
“It is not aimed at shutting down Igbo business. People should pay their taxes and not evade it,” he said.
Nnamani said ESIRS would continue to expand the tax net while deploying technology to make payment easier, improve transparency and ensure that revenue due to the state was properly collected.
He said the agency’s ultimate objective was to build a modern revenue administration system in which taxpayers could meet their obligations conveniently while the state would accurately account for every naira collected.
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