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Emefiele Counters Ganduje, Says Currency Swap not Threat to Presidential Visit

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The Governor of the central bank of Nigeria (CBN) , Mr Godwin Emefiele, says the excuse of security pushed by Gov.Abdullahi Gaduje of Kano State has no bearing on the ongoing currency swap across the country.

Ganduje had in an interactive session with crtical stakeholders, including scholars, legislators, political leaders and business community in the state, revealed that his administration had requested the president to postpone his official visit to the state.

The governor said the state was deeply concerned about the hardship principally induced by the ongoing cash swap from old to redesigned Naira notes.

He said the decision was taken to avoid any unforeseen circumstance.

However, the CBN governor debunked Ganduje’s assertion, saying: “I don’t understand the relationship between the CBN policy and security challenges in Kano State.”

Emefiele noted that the apex bank had achieved compliance and recorded huge success in the ongoing currency swap across the country.

He noted that all new currencies had security features that make them easy for tracking to bank branches, and the process had begun to deal with defaulters and those who breached the programme.

“Even if they are CBN staff, they will be sanctioned,” Emefiele warned.

Newsmen report that Buhari had earlier on Sunday morning approved extension of the ongoing currency swap by 10 days, moving the deadline from Jan. 31 to Feb. 10.

The president’s spokesman, Mr Femi Adesina, who confirmed this in a statement, said Buhari gave the approval at a meeting with the Governor of the Central Bank of Nigeria in Daura, Katsina State.

He urged more time, discretion and order to enable Nigerians successfully change their currencies to the redesigned notes, and reduce the risk of loss, especially among the underserved in rural areas.

Briefing newsmen after the meeting, the CBN governor said the currency swap had achieved more than 75 per cent success rate of the N2.7 trillion held outside the banking system.

According to him, this achievement can be seen with drop in rate of inflation, more stability of foreign exchange rates, and noticeable impact on security, especially in banditry and kidnapping figures.

The CBN governor noted that redesigns were supposed to be every five to eight years.

“First, I will like to thank Mr President for giving the CBN the approval to embark on this ambitious programme because, like I said, in the past, the CBN has not had the opportunity to embark on such currency redesign programme in last 19 years.

”And indeed, let me emphasise that only an incorruptible leader of the President’s stature can give such approval to the CBN,” he said.

“Our aim is mainly to make Monetary Policy Decisions more efficacious and as you can see; we have started to see inflation trending downwards and exchange rates relatively stable.

“Secondly, we aim to support the efforts of our security agencies in combating banditry and ransom taking in Nigeria through this programme and we see that the military are making good progress in this important task,” he added.

The head of the apex financial regulator said available data had shown that currency-in-circulation in 2015 was only N1.4 trillion, while as at Oct. 2022, currency-in-circulation had risen to N3.23 trillion, out of which only N500 billion was within the banking industry.

He said N2.7 trillion was held permanently in people’s homes.

“Ordinarily, when CBN releases currency into circulation, it is meant to be used and after effluxion of time, it returns to the CBN thereby keeping the volume of currency in circulation under the firm control of the CBN.

“So far and since commencement of this programme, we have collected about N1.9 trillion; leaving us with about N900 billion (N500 billion + N1.9 trillion),” the CBN governor said.

According to Emefiele, to achieve effective distribution of the new currency, the CBN has taken some steps.

He said several meetings were held with Deposit Money Banks and they were provided with Guidance Notes on processes they must adopt in the collection of old notes and distribution of the new notes, including directives that new notes should be loaded in ATMs nationwide for equitable and transparent mechanism.

The CBN governor explained that the regulatory body worked with the media, print and broadcast, and the National Orientation Agency for sensitisation of citizens.

He revealed that 30,000 Super Agents were deployed nationwide, particularly in rural areas, regions underserved by banks and to reach the weak and vulnerable for currency swap.

To ensure compliance, Emefiele said staff members, mostly Assistant Directors, Deputy Directors and Directors in Abuja were sent to all CBN branches nationwide to join the mass mobilisation campaign and monitoring programmes.

He said breaches of the programme had been reported to the EFCC and ICPC for further action.

“Aside from those holding illicit/stolen Naira in their homes for speculative purposes, we do aim to give all Nigerians that have Naira legitimately earned and trapped, the opportunity to deposit their legitimately trapped monies at the CBN for exchange.

“Based on the foregoing, we have sort and obtained Mr President’s approval for the following:

”A ten-day extension of the deadline from Jan. 31, 2023, to Feb. 10, 2023; to allow for collection of more old notes legitimately held by Nigerians and achieve more success in cash swap in our rural communities after which all old notes outside CBN losses their legal tender status,” he explained.

Emefiele said a seven-day grace period had been given by the President, beginning from Feb. 10 to Feb. 17, 2023, in compliance with Sections 20 (3) and 22 of CBN Act, allowing Nigerians to deposit their old notes at the CBN after the February deadline.

Meanwhile, barely 24 hours after advising Buhari against visiting Kano State on Monday, Ganduje has made a u-turn, saying ”Kano is now prepared to receive the Nigerian leader”.

Ganduje, who led a delegation of critical stakeholders from the state to meet the president in his country home in Daura on Sunday, after which he revealed the change of position to newsmen.

The governor said: ”We are very much ready to receive him and we have a lot for him to commission, including Federal Government projects and state government projects.

”They are state-of-the-art projects

NEWS

Wife Stabs Husband Over Phone in Bauchi

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An 18-year-old woman, Fatima Dalha, has allegedly stabbed her 30-year-old husband in the stomach in Lirr Bajar, Dass Local Government Area of Bauchi State.

She stabbed the husband during a disagreement over wrappers, a phone and some money she claimed belonged to her.

Police Public Relations Officer (PPRO), Nafi’u Habib, who confirmed the incident to journalists in Bauchi, said it occurred on Sunday, 25th October, 2026 at about 06:00 o’clock.

He said the argument between the couple turned violent after the wife took a knife and stabbed the husband in the stomach.

Habib explained that trouble started after the wife confronted the husband and demanded her money, wrappers and a phone she claimed were with him.

“In a moment of rage and desperation, Fatima reached for a knife lying close by and stabbed her husband in the stomach. The husband fell, bleeding. The neighbourhood erupted. An angry mob gathered, ready to lynch the young woman.

“Police operatives from Dass Division raced to the scene and saved her from instant jungle justice, while the wounded husband was rushed to a Hospital, where he is now receiving treatment.

“Behind the uniform, behind the case file, are two young lives, a marriage of barely months, now shattered by anger that could have been resolved with words.”

Habib said the suspect had been detained while the knife allegedly used in the attack was recovered, adding that the case will be transferred to the State Criminal Investigation Department (SCID), Bauchi for discreet investigation.

According to the PPRO, the Commissioner of Police, Sani-Omolori Aliyu, expressed concern over rising domestic violence cases among young couples and advised couples to seek peaceful means of resolving disagreement, through family, elders and lawful channels, instead of resorting to violence.

He warned against jungle justice and reiterated the Command’s resolve to ensure justice is served professionally and humanely.

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Can the Media Announce Election Results Before INEC’s Official Declaration?

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By Samson Itodo

To address this issue, it is important to understand the election results management process. Election results are first announced at the polling unit level and immediately made public through verbal declaration and the posting of result sheets.

The purpose of this public announcement is to promote transparency.
Once results are announced at the polling unit, they become public information.

Furthermore, the introduction of the INEC Result Viewing Portal (IReV) was designed to deepen transparency in the electoral process. The objective is to make results accessible to citizens and stakeholders, enabling them to follow the results management process, while reducing opportunities for manipulation during collation.

In that context, the media can report results that have already been officially announced at polling units because those results are already in the public domain.

This is particularly important given the widespread concerns and distrust surrounding the results management process. Historically, the collation stage has often been viewed as the weakest link in the electoral process and the point at which political actors may seek to compromise outcomes. Media and citizen oversight therefore serve several important purposes:

It protects INEC from political pressure.

There is no doubt that electoral management bodies can come under pressure from powerful political interests. When results have already been publicly announced, documented, and aggregated by independent observers and media organisations, it becomes more difficult for any attempt to alter them to succeed. Public awareness of the results strengthens INEC’s ability to resist undue pressure and uphold the integrity of the process.

It strengthens the integrity and credibility of the electoral process.

Independent reporting, monitoring, and aggregation of officially announced polling unit results create an additional layer of transparency and accountability. This helps build public confidence in the process and discourages attempts at manipulation.

At the same time, it is important to distinguish between announcing results and declaring a winner. INEC is the constitutional authority empowered to declare election results and return a candidate as duly elected. Declaration goes beyond publishing polling unit outcomes; it is the formal legal pronouncement that a candidate has won an election and has been returned as the winner. Until INEC makes that declaration, no candidate can legally be regarded as having won the election.

However, reporting or aggregating results that have already been officially announced at polling units does not amount to declaring a winner. The media may report and analyse such publicly available results, provided this is done responsibly, accurately, and within established professional and ethical standards. That said, media organisations must remain conscious of the realities of the results management process. During collation, several factors can affect the final outcome. INEC may cancel results where there is confirmed over-voting, while adjustments may also arise from polling units where elections did not hold, were postponed, or were disrupted by violence or other incidents. These considerations are taken into account during the collation process and can ultimately influence the final results.

For instance, there are constitutional thresholds that candidates must satisfy before they can be declared and returned as winners. It is therefore possible for election results to be announced without an immediate declaration and return of a winner, if those constitutional requirements have not been met. In presidential and governorship elections, for example, the Constitution requires not only that a candidate secure the highest number of lawful votes cast, but also that s/he obtain at least 25 per cent of the votes cast in no fewer than two-thirds of the states in a presidential election, or two-thirds of the local government areas in a governorship election.

Determining whether these conditions have been satisfied requires a comprehensive assessment of the final collated results, a responsibility that rests exclusively with INEC. This underscores the distinction between reporting results and declaring a winner. While the media may responsibly share and aggregate results that have already been officially announced at polling unit, ward, local government, and state levels, only INEC has the constitutional authority to determine whether all legal thresholds have been met and to formally declare and return a candidate as the winner of an election.

This is precisely why all actors, including the media, should avoid declaring winners before INEC completes the collation process and makes its official declaration. Reporting results that have already been announced by INEC at the polling unit, ward, local government, or state level is entirely different from declaring an electoral outcome. The former promotes transparency and public oversight, while the latter remains the exclusive constitutional responsibility of INEC.

Therefore, media organisations can responsibly share and aggregate officially announced results as part of their public information role, but they must be careful not to present such reporting as a final declaration of the election outcome. Until INEC officially declares and returns a winner, all reported figures should be understood as part of an ongoing results management process. Ultimately, all actors, including the media, civil society organisations, and observers, must operate in accordance with the principles of integrity, professionalism, accuracy, and ethical conduct.

The publication of false, inaccurate, or misleading results can undermine public trust and attract legitimate institutional sanctions. However, where the media responsibly reports and analyses results that have already been officially announced by INEC, such reporting enhances transparency, strengthens public oversight, and contributes to democratic accountability without encroaching on INEC’s exclusive constitutional mandate to declare and return a winner.

Samson Itodo is an election, democracy, and public policy enthusiast. Itodo serves as the Executive Director of Yiaga Africa, Principal Partner of the Election Law Center and Chairperson of the African Union Advisory Group on AI in Peace, Security and Governance. He is also a member of the Kofi Annan Foundation board and the Board of Advisers of the International Institute for Democracy and Electoral Assistance (IDEA).

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Okonjo-Iweala Pays Tribute to Late Mother

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The Director-General of the World Trade Organisation, Dr Ngozi Okonjo-Iweala, has paid tribute to her mother, Prof. Kamene Okonjo, who died last Friday at the age of 96.

The former Minister of Finance described her late mother as a woman who lived a quality life until the end.

In a post on her official X handle on Sunday, Okonjo-Iweala thanked friends and followers for their messages of condolence and support to her family.

She wrote, “Today, I have been overwhelmed with messages of condolences and tributes to my wonderful mother. I just want to thank all my friends and followers and let you know how appreciative my entire family and I are of your support.

“My mother lived a quality life till the end and we are very grateful we had her for so long. May her soul rest in perfect peace.”

The 96-year-old was the matriarch of the Umu Obi Obahai Royal Family and mother of the Obi of Ogwashi-Uku, Obi Ifechukwude Okonjo II.

She was also the wife of the immediate past traditional ruler of Ogwashi-Uku, Delta State, late Obi (Prof.) Chukwuka Okonjo, with whom she shared 66 years of marriage.

Her death was announced in a statement issued on Sunday by Palace Secretary of Ogwashi-Uku, Ifeakanachukwu Emordi, on behalf of the royal family.

The statement described the late Okonjo as an extraordinary woman whose life was defined by intellectual brilliance, humility, compassion, dignity and an unwavering commitment to the advancement of humanity.

“An internationally recognised and foremost sociologist, Prof. Kamene Okonjo distinguished herself through her outstanding academic accomplishments, intellectual contributions and lifelong advocacy for women’s rights and empowerment.

“She was a woman of exceptional intellect, yet possessed a rare gentleness of spirit, humility and grace that endeared her to everyone privileged to know her.

“Her achievements transcended the boundaries of Ogwashi-Uku and Nigeria, earning her admiration and respect within academic and intellectual circles internationally,” the statement read.

The statement further described her as a devoted mother, grandmother, great-grandmother and a cherished pillar of the royal family.

“Her wisdom, kindness, quiet strength and exemplary character will remain an enduring inspiration to generations yet unborn,” it said.

The family added, “While we mourn her passing, we celebrate a life exceptionally well lived.”

It noted that at 96, the late scholar left behind an enduring legacy of scholarship, service, family values and advocacy for the dignity and advancement of women.

“We take comfort in our Christian faith and the assurance that she is resting peacefully with the Lord, having completed her earthly journey with grace and distinction,” the statement said.

The Umu Obi Obahai family extended its condolences to the Obi of Ogwashi-Uku and the deceased’s children, including Ngozi Okonjo-Iweala, Dr Njideka Okonjo-Udochi, Onyema Okonjo and Chichi Okonjo, as well as their spouses, grandchildren, great-grandchildren and the wider Okonjo royal family.

The family also called on the people of Ogwashi-Uku to join in celebrating the life and enduring legacy of the late scholar and matriarch, whose contributions to humanity, it said, would never be forgotten.

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