From Molly Kilete, Ndubuisi Orji, Adanna Nnamani, Abuja, Oluseye Ojo, Ibadan, Tony John, Port Harcourt, Bamigbola Gbolagunte, Akure
Tension and fear of possible outbreak of violence and breakdown of law and order have gripped residents of Abuja, the Federal Capital Territory (FCT), Lagos, Port Harcourt, Ibadan, Enugu and other major cites across the country following the biting scarcity of petroleum products and naira notes.
Last week, protesters took to the streets in Warri and Asaba, Ibadan and Benin in Delta, Oyo and Edo states respectively to vent their anger over scarcity of naira notes and petrol.The situation forced Governor Seyi Makinde to suspend his campaign.
Daily Sun gathered that several states may witness protests this week as most citizens said they have been pushed to the wall following their inability to access fuel and money even as most businesses have been crippled.
This is as security agencies said they have uncovered plans by some group of persons to embark on violent protest in various parts of the FCT and its environs, which could lead to deaths, destruction of public and personal properties and other forms of attacks. But security officials have vowed to do everything to avert the protests to prevent hoodlums and other miscreants from highjacking the process and causing more troubles. To this end, the military, police, Department of State Services (DSS) and other security agencies have been placed on red alert.
“We don’t want anything to disrupt the smooth elections that is why we are not going to allow any protest. The protest, if allowed, could lead to the burning and destruction of public and private property. We also do not want innocent persons who are also suffering the naira scarcity to be attacked.
“I can tell you that we have arrested some bank officials and we are working on some of the revelations they made hence we are deploying our men to banks to pose as customers. I cannot say more than that.”
FCT police command spokesperson, Josephine Adeh, said there was no cause for alarm and urged residents to go about their lawful duties.
“The police are ready for anything, the public should disregard any rumour of any problem and go about their legitimate businesses. We are not aware of any unrest, so it is a rumour.”
Reps may reconvene over scarcity
Speaker of the House of Representatives, Femi Gbajabiamila, has said the House may reconvene before the February 25 elections if CBN failed to address the hardships Nigerians face due to the currency swap policy.
Gbajabiamila, in a statement by his media aide, Lanre Lasisi, said the House would continue to monitor the CBN’s implementation of the policy closely following its interface the with Emefiele on the issue, last week.
The speaker, who spoke during a town hall meeting with some ethnic groups in Surulere, Lagos, yesterday, said he was on the verge of signing an arrest warrant against Emefiele following his initial failure to appear before an ad hoc panel of the House.
“Many have argued on the independence of CBN, the autonomy of CBN. That does not make CBN above the law. The constitution gives the House the power to issue an arrest warrant against anyone, we can summon anybody, and that was exactly what the House was going to do until the CBN governor came.
“So, we are watching, and we are monitoring very closely. If need be, we will reconvene the House, even though we’ve all been away for our elections. I will call the House back, if need be.”
Gbajabiamila added “on the currency swap, let me explain something to you. We are all very intelligent people. Many are suffering, we have paid your salary, and you cannot withdraw it; people cannot eat, what kind of thing is that?
“But I have news for you. There’s one man who is running for president of this country, and that man has courage and audacity. This man came out boldly and identified the problem, that the fifth columnists, in cooperation with the PDP are the ones trying to sabotage this election.
“Many have said he’s talking about Buhari, but he told them ‘no, I’m not talking about Buhari; I’m talking about fifth columnists.’ If you don’t know the meaning of fifth columnists, go and check your dictionary. Fifth columnists infiltrate people, they even infiltrate families, otherwise how do you explain this type of policy?
“The president, being a compassionate person that he is, has asked for a few more days to look at everything that is going on and see if anything could change. We pray that things will change. If nothing changes, we will intervene again, but be sure of one thing: that Asiwaju Bola Ahmed Tinubu stands with you and stands with Nigerians in their suffering.
“He was the first to shout that what is going on? He has cried, he has begged, he has screamed that people are suffering, what did the PDP candidate say? He said, ‘no, CBN don’t listen to them; you must not extend this thing; let people continue to suffer.’ That is what the PDP candidate said. He said it publicly. So, you have the tale of two presidential candidates: one who stands with the people and says this currency swap must stop; the second one says,’ no, it cannot stop, it’s a good policy. CBN, don’t listen to him. Let the people continue to suffer.’ I leave the rest to you to determine who is with you and who is against you.”
Why NLC is not calling for mass actions – Wabba
The Nigeria Labour Congress (NLC) has given reasons why it had not called for mass actions against the Federal Government and the Central Bank of Nigeria (CBN) over scarcity of both naira notes and PMS.
Its national president, Ayuba Wabba, explained that there may be a grand plan in some quarters to use the scarcity of naira notes and fuel to disrupt the conduct of the general elections slated for February 25 and March 11, saying NLC would not want to be part of whatever would cause disruption of the polls.
“We want the election to hold. Basically, I would agree from what is happening, possibly there is also a theory to actually push Nigerians to the wall so that Nigerians will react, and therefore disrupt the election process. We will not be part of that disruptive tendencies. We want the election to hold and be free and fair. We want Nigerians to be able to elect leaders that can change this negative narrative.
“As far back as December 12, 2022, we wrote to the CBN governor on the likely consequence of the action he was about to take in redesigning the naira notes without consultation and dialogue with stakeholders. He took the action unilaterally.
“We have seen the consequence that we warned him against come to pass. Also, we wrote to Mr. President as NLC to tell him what we envisaged because the entire economy of Nigeria and other part of Africa is mostly informal. People trade in their small and medium scale businesses in actual currencies. By the time you retrieve the old currencies, and the new ones are not available, what you can see is chaos. When I was coming to Ibadan this morning, in every bank, I saw chaotic situation, where people are losing a lot of man-hour. People queue in banks to retrieve their hard-earned money that government cannot give them. It is really a situation that has called for concern for every right thinking Nigerian. It is condemnable. We have condemned the situation. Nigerians are not supposed to be in this type of situation because we are a country that is blessed in terms of resources. This is why we said the Permanent Voter Cards (PVCs) Revolution is important for us to change the negative narrative, not to lament, not to join them in disruptive tendencies,” he told journalists in Ibadan, Oyo State, after the commissioning of the Food Union Hotel and Suites, Apata, Ibadan, built by the National Union of Food, Beverage and Tobacco Employees (NUFBTE), under the leadership of its outgoing national president, Lateef Oyelekan.
On the scarcity of fuel, Wabba stated: “It is a situation that is really unbecoming. It is very pathetic and condemnable. We have told every Nigerian the only way we can bring in a better society. Our politicians have become immune to strike and protest. But we know there is a ‘PVC Revolution’ going on where we can elect leaders of our choice that we believe can fix the problems.”
Rivers NLC orders sit-at-home
Regardless, the Rivers State chapter of the workers union has ordered its members to observe sit-at-home from today, unless government addresses the lingering fuel and cash scarcity.
The chairperson, Mrs. Beatrice Itubo, in an interview, stressed that their members were facing untold hardship and would not continue living in such a condition.
“It is not a threat. It is not a strike. It is a sit at home directive. I have issued a press release and it is starting from Monday (today). Workers cannot be spending the salaries on the huge transport fare and other issues. We can’t continue this. If government fails to address these problems, from where will they get money to be spending on transportation.”
Obi appeals for calm
Presidential candidate of the Labour Party (LP), Mr. Peter Obi, has appealed to banks to expedite action to reduce the pains and discomfort small depositors and the unbanked Nigerians, particularly those in the rural areas, were going through.
In a statement issued by the Presidential Campaign Council media team, in Abuja yesterday, Obi backed the currency redesign, saying the exercise has long-term economic benefits.
“Even though there are improvements that can be made, I urge Nigerians to bear with the CBN and the Federal Government with the hope that Nigeria will harvest the gains that will come with the reforms.It is an exercise that comes with some inconveniences and pains but it has significant long-term economic and social benefits.”
NNPP NASS candidates seek urgent action
National Assembly candidates of the New Nigeria Peoples Party, (NNPP) in Ondo State accused the All Progressives Congress (APC)-led Federal Government of insensitivity to the lingering fuel crisis and cash crush.
They noted that the situation has paralysed economy and called for an urgent action from government.
The candidate for Ondo South senatorial district, Segun Ehinmisan, alleged that the APC has reneged on its promises to make life better for the people who voted them into power and urged Nigerians to vote for a credible candidate in the forthcoming elections to revive the economy and create more opportunities for businesses to thrive.
Also, the House of Representatives candidates for Okitipupa/Irele federal constituency, Deji Ajayi, Ileoluji Okeigbo/Odigbo federal constituency, Prince Olubobade Ojo and Ilaje/Eseodo federal constituency, Odola Sunday said it was unfortunate that the hope of a better country had been dashed by the APC government.
They frowned at the inability of the apex bank to sensitise Nigerians on the need to embrace the cashless policy of government which has not only led to the recent hiccup in banks but has also affected many businesses.
Ploy to scuttle polls – SRG
The Social Rehabilitation Gruppe (SRG), however, alleged that setting a hurried expiry date for old naira notes at a time Nigeria is preparing for a major election smacked of mischief and evil plot to derail a smooth transition from one government to another.
Convener/National Coordinator of the socio-political organisation, Dr. Marindoti Oludare, who made the claim in a statement, warned Emefiele not to heat up the system ahead of the elections.
“While it is within the right of the CBN to change the naira notes, it is also liable to addressing hiccups that could occur in the process, but in this case, the apex bank is apparently unmoved by the spectre of Nigerian masses being tortured through its monetary policy.
“To worsen things, the decision to change the old naira notes, setting a hurried deadline in tow, is coming at a very, very wrong time; when Nigerians are preparing for a presidential election on February 25.
“We in the SRG smell a rat in this monetary policy as it smacks of mischief and an evil plot, which has sent tongues wagging that it is meant to mar the coming election and put the nation in turmoil, with intent to succeed the present administration with an interim government.”
According to Oludare, new naira notes were introduced during the administration of former president, Goodluck Jonathan, but during the era, “the old and the new notes were both legal tender for over two years until the old notes naturally disappeared.”
“Secondly, when India did the same thing in 2016, they sought a cessation of liability ordinance in order for the old notes to ease from being legal tender. And the rupees were readily available in all banks during this period
“The cessation of liability is not in the CBN act hence they do not have the right to stop being liable for those old notes,” he noted.
Oludare commended a comment credited to Vice President Yemi Osinbajo condemning the sweeping application of CBN’s cashless policy but stressed that the federal government has to leave the the level of rhetoric and take a bold action, to save Nigeria.
He counselled voters to be guided by the antecedent, administrative acumen and consistency in the convictions of the contestants to decide who becomes the next president.