Day: March 3, 2023

JUST IN! SUPREME COURT ORDERS OLD N200, N500 & N1000 TO REMAIN IN CIRCULATION TILL DECEMBER 31ST

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The Supreme Court has ordered that old N200, N500, N1,000 notes remain in circulation till December 31, 2023. The apex court which gave the order on Friday, also nullified the Federal Government’s naira redesign policy, declaring it as an affront to the 1999 Constitution. The Supreme Court delivered judgement in the suit brought against the Federal Government on the naira redesign policy. Sixteen states of the Federation instituted the suit to challenge the legality or otherwise of the introduction of the policy. The suit initially instituted by Kaduna, Kogi and…

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ZENITH BANK DMD, ADAORAH UMEOJI RETIRES

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The Deputy Managing Director of Zenith Bank Plc, Dr. Adaora Umeoji has retired from the financial institution following the new tenure limits for banks’ executives released recently by the Central Bank of Nigeria (CBN). Her retirement became effective from February 24th, 2023. Zenith Bank disclosed this in a notification to the Nigerian Exchange Limited that was signed by its Company Secretary/General Counsel, Michael Otu. The bank explained: “We write to notify the Nigerian Exchange Limited and the investing public of the retirement of Dame (Dr) Adaora Umeoji from the board…

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SOKOTO, EDO, AKWA-IBOM, THREE OTHER STATES ASK SUPREME COURT TO VOID INEC’S DECLARATION OF TINUBU AS PRESIDENT

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In what appears like a copy-cat replay of an ongoing suit over the move by the Central Bank of Nigeria (CBN) to ban the use of some denomination of old currencies, six states of the federation;  Adamawa, Akwa-Ibom, Bayelsa, Delta, Edo and Sokoto    have dragged the federal government before the Supreme Court over the conduct, collation and announcement of the February 25, 2023 presidential and National Assembly elections. The States want the apex court to declare that the pronouncement  of the candidate of the All Progressives Congress,  Bola Ahmed Tinubu, …

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“YOU DID NOT WIN THE ELECTION, WE WILL MEET YOU IN COURT”—APCPCC REPLIES PETER OBI

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We watched with dismay today’s press conference addressed by the Presidential candidate of Labour Party, Mr. Peter Obi where he made very weird and wild claims about the outcome of the just concluded Presidential and National Assembly elections, an election in which he emerged  a second runner up, according to the result declared by the Independent National Electoral Commission. We welcome the decision of Mr. Obi to seek redress in court as an aggrieved party if he is convinced of the evidences of electoral frauds he will present before the…

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SUPREME COURT TO GIVE JUDGEMENT ON NAIRA SWAP TODAY

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The Supreme Court is expected to give its verdict in the cases filed by some States to challenge the propriety of the naira swap policy of the Federal Government. When parties were last in court on February 22, a nine-member panel of the apex court, led by Justice John Okoro, scheduled judgment for March 3 after entertaining final arguments. The plaintiffs in the cases are Kaduna, Kogi, Zamfara, Katsina, Lagos, Cross River, Ogun, Ekiti, Ondo, Sokoto, Rivers, Kano, Niger, Jigawa, Nasarawa, Plateau and Abia states. Upon an application by Bayelsa…

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