The Pacesetter Frontier Magazine

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  • ASUU protests half salary

    ASUU protests half salary

    The ghost of the recently suspended strike by the Academic Staff Union of Universities (ASUU) roamed across several campuses, yesterday, as lecturers protested the pro-rata October salary payment and non-payment of eight-month salaries.

    The aggrieved lecturers called on the Federal Government to do the needful or risk another prolonged strike.

    At the Federal University, Lokoja, ASUU members called for immediate sack of ministers of Education and his Labour and Employment counterpart, Adamu Adamu and Chris Ngige, respectively.

    It accused both ministers of arrogance and highhandedness, saying they should stop presenting themselves as if they own Nigeria, adding, ‘Nigeria belongs to all of us’

    The lecturers, who converged on the temporary site of the university in Adankolo carried placards with various inscriptions.

    Addressing newsmen at the university gate, the branch Chairman of ASUU, Josiah Silas, said it was sad that in spite of calling off the eight months strike, government has continued to put the lecturers and their families in hunger.

    He said government was doing it to intentionally kill tertiary education, especially at the university level, saying nowhere in the civilised world are intellectuals treated with so much scorn.

    The union warned that if government refused to pay their outstanding salaries, they would be forced to embark on another strike.

    At the University of Nigeria Nsukka (UNN), ASUU directed its members to withhold examination results and not participate in any department, faculty or Senate council meetings to approve results until they were paid in full.

    Speaking to newsmen in Nsukka shortly after the protest, chairman of ASUU-UNN, Christian Opata, said: “ASUU-UNN has directed its members not to release results of examinations conducted or participate in any department, faculty or Senate council meetings to approve results until government pay there salary in full.

    “We will continue to teach but will not release results of any examination or allow the school Senate to sit and approve any result.

    “ASUU is saying no to the government policy of no work, no pay, but if government insists on the policy, ASUU will not handle any academic activity that fall within that eight months period.

    “ASUU wants government to honour its agreement with the union since 2009 and stop further attempt that will keep students away from school.”

    The ASUU chairman described as unfortunate attempt by government to treat lecturers as labourers by using the so-called ‘pro-rata’ format to pay them their October salary.

    “This is the first time in the history of this country when university academic staff are paid as casual workers. It is an indication that the present administration in the country has no regard for education,” he said.

    Opata threatened that if government failed to do the needful, ASUU was determined to embark on what would be known in Nigeria history as mother of all strikes.

    “If government thinks implementing the policy of no work no pay and withholding our salary will prevent us from embarking on strike again, it’s a big lie.

    “If government failed to do the the needful, very soon ASUU will return to indefinite nation wide strike in public universities,” Opata said.

    The peaceful protest started from the Faculty of Social Science to the administrative block and to major roads in UNN

    •Ngige’s abuse of power should not be condoned

    Leading the protest within the South core part of the school premises, Chairperson of the Federal University of Agriculture, Makurdi (ASUU-FUAM), Simon Ejembi, said the rally is meant to sensitise Nigerians and relevant stakeholders in the educational sector to prevail on the ruling class to stop bastardising and casualising the system.

    In a speech entitled: “Casualisation of academics: Ignorance of the ruling class,” Ejembi said the eight-month strike was to press on the government to address certain issues which include University Transparency Accountability Solutions (UTAS) and IPPIS.

    “Signing and implementation of the renegotiated Draft 2009 Agreement, Earned Academic Allowances accruing to our members, state universities and funding for the revitalisation of public universities,” he said.

    He said it was regrettable that rather than approaching the issues responsibly, the ruling class chose to politicise them and also convert the whole essence of the issues to an ego fight championed by Ngige.

    He said after the lecturers called off the eight months strike, the Federal Government, in October 2022 paid them half salary, saying they only worked for 18 days and should be paid as such based on the Federal Government no-work-no-pay policy.

    The lecturers, who described the action as unlawful and also an injustice on them, urged government to pay them their backlogs and also do all other things necessary (especially those issues that led to the strike) to revamp the educational sector.

    According to him, Ngige has variously misinformed and misinformed the Nigerian public in his attempts to turn them against ASUU membership in addition to denigrating them.

    “He created several false impressions as regards the workings of academics world over by mischievously and ignorantly limiting the works of academics to just teaching which was why he orchestrated the stoppage of their salary on the grounds that they did not work during the periods of the strike.

    “It is important to stress here that the work of academics is not limited to teaching only as ignorantly and or mischievously portrayed by Ngige.

    The work of an academic world over is on a tripod of teaching, research and community development.

    “It was the teaching component that was suspended during this strike while the other two were ongoing even within the period.”

    Ejembi said going to court to procure a judgement that could not be appealed until after compliance with a ruling which was challengeable, to say the least, was not just a bid to further destroy the university system but a gross abuse of power which should not be condoned.

    “This is not patriotism by any stretch. The ruling class should be humble enough to understand the functionality and operations of the university system.”

    He said the union would continue to use strike as a last option to draw the attention of government and other critical stakeholders to their plights, adding: “We have demonstrated we are law abiding union in a government that is totally lawless. We are here today to create awareness and inform Nigerians that the Federal Government has started again. That we are patriotic union and craving for education hence Nigeria child deserves to be in school,” Ejembi said.

    (Sun)

  • Labour Party Woman Leader Shot Dead In Kaduna

    Labour Party Woman Leader Shot Dead In Kaduna

    Buju said Chintex’s husband sustained injury in the attack and is currently receiving treatment at a medical facility.

    The statement read, “The Southern Kaduna (Zone 3) Labour Party commiserates with the party chairman and his excos in Kaura local government area, over the untimely demise of our mother and sister, Mrs Victoria Chintex, woman leader, Kaura local government who was killed yesterday (Monday) by some unknown gunmen in her residence in Kaura.

    “More so, as we await the burial plans by the family, the Zone 3 Labour Party will make support to her family.

    “On behalf of our presidential candidate, Peter Obi; our gubernatorial candidate in Kaduna state, Jonathan Asake; the party senatorial candidate for Southern Kaduna zone, Mike Auta, we call on the people of Kaura LGA, to be law abiding as vengeance is of the Lord.”

    The Kaduna police command spokesperson did not respond when contacted for comments on the development.

    (Sun)

  • Court Sentences IGP To 3 Months In Prison

    A Federal High Court in Abuja has sentenced the Inspector-General of Police (IGP), Usman Alkali Baba, to three months in prison for disobeying a valid court order.

    Justice M. O. Olajuwon on Tuesday held that the IGP should be committed to prison and detained in custody for three months, or until he obeys an order by a sister court on October 21, 2011.

    “If at the end of the three months, the contemnor remains recalcitrant and still refuses to purge his contempt, he shall be committed for another period and until he purges his contempt”, the judge said.

    The IGP’s committal followed a suit that was filed by a police officer, Mr. Patrick Okoli, who was unlawfully and compulsorily retired from the Nigerian Police Force.

    Justice Olajuwon observed that though the Police Service Commission (PSC) recommended Okoli’s reinstatement into the police, which was affirmed by the court, the IGP refused to comply with the order.

    The court had also ordered the payment of N10 million to the applicant as special and general damages for the unlawful, illegal, and unconstitutional denial of his rights and privileges as a senior officer of the Nigeria Police Force from 1993 till date.

    (Daily Trust)

  • Ebubeagu operatives to guard INEC offices in Ebonyi

    Ebubeagu operatives to guard INEC offices in Ebonyi

    The Ebonyi government says it will strengthen the security at all Independent National Electoral Commission (INEC) offices.

    Stanley Emegha, the security consultant to the government, disclosed this Tuesday while speaking on efforts to forestall the recent arson on the INEC office in Izzi local government area.

    “The problem is that when we deploy the Ebubeagu security outfit to such facilities, some people would start insinuating that they want to hijack electoral materials,” said Mr Emegha. “We would, however, not succumb to such cheap blackmail but ensure that such facilities are adequately protected across the state.”

    He added, “We would, in collaboration with other security agencies in the state, deploy joint security outfits at all INEC offices among other public facilities across the state.”

    He noted that the arsonists thought that Permanent Voters Cards (PVCs) and other sensitive materials were at the burnt INEC office.

    “Those causing these problems do not want elections to hold in Ebonyi as in other states, but their plans have failed. Elections would hold in Ebonyi as scheduled, and the people would protect their votes,” Mr Emegha added. “Anyone who destroys public facilities again in the state will meet his waterloo as the government would act decisively.”

    Mr Emegha, the APC chair in Ebonyi, said the party would win the 2023 general elections.

    “Contrary to insinuations by some disgruntled politicians, APC is rooted in Ebonyi and sure of the electoral victory at all levels of the elections. We are always educating our party members and supporters across the state to be civil in their utterances and actions,” the Ebonyi security consultant said, asking APC members and supporters “not (to) be like the opposition who cast aspersions on prominent stakeholders of the state in the name of politicking.”

    He added, “They, for instance, describe major stakeholders who defected to our party as dead woods, but when such persons were in the opposition, they were not dead woods.”

    (NAN)

  • 2023: How my government will address insecurity, PDP guber candidate to Awgu Catholic Diocese

    …Mbah’s manifesto ambitious, comprehensive, assuring – Church

    The governorship candidate of the Peoples Democratic Party, PDP, in Enugu State, Dr. Peter Mbah has outlined the strategies he will deploy to address the growing insecurity in the state.

    Speaking in Awgu on Tuesday where he met with the Catholic priests and other religious, Mbah said, although security issue is nationwide, his government, if elected in 2023, will decisively checkmate the hydra-headed problem of insecurity through some strategic steps he had already mapped out.

    He disclosed that security and infrastructure are at the core of everything he had proposed in his manifesto, stressing that it’s only when there’s security that investors will be attracted to the state to establish their businesses and industries.

    Assuring that the problem of insecurity will be a thing of history, Mbah said his intervention area is three-pronged, including an integrated programmes to accelerate youth employment and end poverty, integrated rural development programmes, and kinetic and non-kinetic approaches.

    The governorship hopeful further noted that youth unemployment and poverty have been established to be two major factors engendering insecurity in the country, adding that the development economic plans by his administration will create thousands of jobs that will end unrest and agitation among the youths.

    He harped on his resolve to exploit the dormant resources in the state to create more jobs for the citizens by turning them to productive assets that will engage the youths and make them useful to the society.

    While assessing the possibility of creating over four hundred thousand jobs in each senatorial zone in the state through the agriculture sector, Mbah maintained that the hideouts of criminals in the state will be cleared and designated as special economic zones for commercial farming.

    On how he will adopt the kinetic approach, the business magnate stated that his administration will strengthen intelligence gathering, employ modern technology such as the CCTV and drones for surveillance, training and retraining of security personnel and collaborate with communities to enhance community policing.

    This, he said, will enable investors find the state attractive for investment, and restore the confidence of farmers to go back to work without fear of molestation.

    Mbah, who further spoke on other issues, promised that his administration will speed up efforts to grow the economy seven-fold by migrating it from its current $4.4 billion to $30 billion by making it one of the top three states in the country.

    He promised to achieve a zero percent hunger in the state within 8 years of his administration through integrated rural development programmes, cross-cutting programmes, technical and vocational training centres, availability of 100 billion naira revolving capital for start-up investors, provisions of basic amenities and other incentives.

    Assessing Mbah’s presentation, the Bishop of the Diocese, His Lordship John Okoye, commended his manifesto, which they’d previously gone through, as comprehensive, convincing and assuring, saying he had their support because of his good intentions for the state.

    He recalled how the governorship candidate had been going about feeding the poor, building state-of-the-art hospital, engendering development and touching lives even with his personal resources.

    Also lauding Mbah’s programmes for the state, a priest, Fr. Leo Ilechukwu said they attended his manifesto presentation, made critical evaluations and found it to be the best in the state.

    “We need people like you who are adding values, and changing the narratives. You’ve governed well in the private sector space, and I can say that nothing can be more appealing and convincing than your mantra, tomorrow is here,” he added.

  • FG goes ahead with grazing reserves, modern ranches

    FG goes ahead with grazing reserves, modern ranches

    The Federal Government is pressing ahead with establishment of grazing reserves and creation of modern ranches across the country.

    Sixteen locations in eight states have been mapped out as livestock services centres, as contained in the National Livestock Transformation Plan (NLTP).

    The NLTP encompasses Grazing Reserves Development, which, in addition to provision of livestock service centres in 16 locations in eight states, also provides capacity-building of grazing reserve users as well as strengthening of conflict resolution mechanisms.

    The NLTP also allows the development of gazetted grazing reserves and promotion of creation of modern ranches.

    Minister of Agriculture and Rural Development, Dr. Mohammad Abubakar, disclosed these in Abuja, at the fifth edition of the PMB Administration scorecard, 2015-2023, yesterday.

    Said Abubakar: “Government believes this is a permanent solution to the perennial farmers/herders clashes. We have additional 70 farmers/herders conflicts and this is to strengthen intervention relationship between these two groups.

    “It is impossible for one group to exist without the other. So, the ministry is doing everything possible, under various programmes to make sure we have harmony between the two groups.

    “I don’t think, at any given time, intentionally , herders push their cattle to go and eat farm produce or crops. Accidentally, the cattle might stray and go into the farmland and this is the source of the conflict. That’s why ranching is the easiest and best solution. States are currently being boarded into the L-PRES. In some states that are opposed to grazing and reserves and we’ve explained fully the difference between the two and they’ve accepted (that ranches can be established). They serve the same function. So, government is doing everything possible to contain it (the conflicts).

    “That’s why, on December 12, 2022, there will be a regional summit on farmer/herder conflicts in Abuja. We’re very interested and serious about that.”

    On the National Agricultural Development Fund Bill, the minister said Buhari has assented to the Bill and, “we’re getting five percent from natural resources; five percent from rice, etc and an agency to harness that which is already signed into law.”

    (Sun)

  • Buhari commissions solar hybrid power plant at Danfodiyo varsity

    Buhari commissions solar hybrid power plant at Danfodiyo varsity

    President Muhammadu Buhari has commissioned 2.0 megawatts Solar Hybrid power plant at Usmanu Danfodiyo University, Sokoto.

    Commissioning the project on Monday, the president said the project was meant to provide sustainable and reliable electricity to the entire campus, improve education and create a better university experience for both students and staff.

    According to Buhari, the project would also help the university eradicate insecurities and any other criminal activities that might occur within the campus.

    Represented by the Minister of Police Affairs, Muhammad Maigari Dingyadi, the president said the plant was the sixth captive solar hybrid power plant executed under Phase one of the 37 federal universities and seven affiliated teaching hospitals under the Energising Education Programme (EEP).

    In his remarks, the Minister of Power, Engineer Abubakar Aliyu said the project was among the many projects funded with the proceeds of the first issuance of Nigeria’s sovereign green bond, an innovative financing mechanism to fund the implementation of climate change projects.

    On his part, the Managing Director, Rural Electrification Agency, Engineer Salihijo Ahmad Salihijo, said the university was the eighth institution of learning to be energised under Phase 1 of the project.

    He added that it had also been furnished with 8.65km of solar-powered streetlights, a functional workshop as well as a training centre.

    The Vice Chancellor of the University, Professor Lawal Suleiman Bilbis, while thanking the federal government for the project, assured that they would jealously guard and protect the plant.

    (Daily Trust)

  • Senate president, Lawan loses at Appeal Court

    Senate president, Lawan loses at Appeal Court

    The Abuja division of the Court of Appeal has affirmed the judgment of a Federal High Court in Damaturu, Yobe State, which declared Bashir Machina as the genuine candidate for the All Progressives Congress( APC), Yobe North senatorial district.

    In a unanimous judgment delivered by the President of the Court of Appeal, Justice Monica Dongban-Mensem, the appellate court dismissed the appeal filed by the Senate President, Ahmed Lawal, for lacking in merit.

    Justice Dongban-Mensem, who led Justices Haruna Tsammani and Peter Ige resolved all the issues formulated by the appellant against him.

    In dismissing the appeal, the court awarded N1 million against the Senate president in favour of the 1st defendant.

    It held that the primary election of the APC conducted on June 9 relied upon by the appellant, contravened the provisions of the Electoral Act, as same was not monitored by the Independent National Electoral Commission(INEC).

    “Section 84 (5) of the Electoral Act 2010, provides that the 3rd defendant(INEC) must be present at every primary election of a political party seeking to nominate candidate for political offices.

    “This section is designed to checkmate political parties who involved in acts of impunity and also to check political parties holding parallel primaries.

    “INEC must be in attendance to ensure internal democracy and to identify authentic candidates that emerged from these primaries,” Justice Dongban-Mensem held.

    Justice Fadima Aminu of the Federal High Court had in her judgment held that Machina remained the APC authentic candidate for Yobe North Senatorial District.

    Machina had emerged as the winner of the primary election supervised by INEC officials where the senate president, Ahmed Lawal did not participate because he was one of the presidential aspirants.

    Lawan had contested and lost the APC presidential primaries to a former Lagos State Governor, Senator Bola Ahmed Tinubu.

    (Sun)

  • Adeleke suspends 3 Monarchs appointed by Oyetola, Osun electoral commission Chairman, 6 members 

    Adeleke suspends 3 Monarchs appointed by Oyetola, Osun electoral commission Chairman, 6 members 

    Osun State Governor, Senator Ademola Adeleke has ordered that all appointments of traditional rulers made by the immediate past administration of Gboyega Oyetola be put on hold.

    Adeleke said the measure is to ensure strict compliance with the due process of Chieftaincy declarations and native law, custom and tradition relating to such chieftaincies.

    This order was contained in six Executive Orders of the governor issued on Monday and made available to journalists in a statement by Adeleke’s spokesperson, Olawale Rasheed.

    The governor also ordered an immediate review of the Chieftaincy appointments.

    “All appointments of traditional rulers made by Osun State Government after 17th July 2022, are hereby ordered to be reviewed to ensure there was strict compliance with due process of chieftaincy declarations and native law, custom and tradition relating to such chieftaincies,” one of the orders read.

    “In the case of Ikirun, Iree and Igbajo, to avoid further breakdown of law and order, the appointments of Akinrun of Ikinrun, Aree of Ire and Owa of Igbajo are hereby put on hold pending review. Subsequently, the palaces of Akinrun of Ikirun, Aree of Iree and Owa of Igbajo should remain unoccupied, while security agencies are hereby ordered to take charge.”

    Protests and accusations of imposition had trailed the appointments by the erstwhile administration.

    Adeleke Suspends Osun Electoral Commission Chairman, Six Members

    Ademola Adeleke has also ordered the immediate suspension of the Chairman of the Osun State Independent Electoral Commission (OSIEC), Mr. Segun Oladitan.

    The governor also suspended six members, namely Mr. Yusuf Oyeniran, Ms. Suibat Adubi, Mr. Yinka Ajiboye, Mrs. Abosede Omibeku, Mr. Dosu Gidigbi, and Mr. Wahab Adewoyin.

    The Secretary to the State Government, Tesleem Igbalaye, made the announcement in a statement on Monday.

    “This suspension is sequel to several petitions bordering on financial impropriety, dereliction of duty, absenteeism and abuse of office against the said chairman and members of the commission.

    “Pending the outcome of investigation into the allegations against the suspended chairman and members of the commission, the secretary to the commission shall hold forth in running the affairs of the commission”, the statement said.

    Adeleke took the oath of office on Sunday, four months after his victory at the July 16 Osun State governorship election.

    Contesting under the Peoples Democratic Party (PDP), he defeated Oyetola of the All Progressives Congress (APC), who was seeking re-election.

    (Channels TV)

  • Hoodlums set Ebonyi INEC office ablaze, destroy PVCs, ballot boxes

    Hoodlums set Ebonyi INEC office ablaze, destroy PVCs, ballot boxes

    HOODLUMS have set ablaze the office of the Independent National Electoral Commission, INEC, in Izzi Local Government Area of Ebonyi State, destroying, among others, 340 ballot boxes and yet to be determined quantity of Permanent Voters’ Cards, PVCs.

    The attack is the third on INEC’s local government offices in less than three weeks, following similar attacks in Ogun and Osun states on November 10, 2022.

    INEC National Commissioner in charge of Information and Voter Education Committee, Festus Okoye, disclosed this in a statement, yesterday.

    He said the Ebonyi Resident Electoral Commissioner, REC, Mrs. Onyeka Ugochi, reported that the commission’s Izzi Local Government Area office, located in Iboko, was set ablaze, yesterday morning.

    “The incident occurred around 10.00am when some unidentified persons set the entire building ablaze,” said Okoye.

    He said although no casualties resulted from the attack, “the main building and all the movable and immovable items inside it were destroyed. These include 340 ballot boxes, 130 voting cubicles, 14 electric power generators, large water storage tanks, assorted office furniture and fixtures and yet to be determined quantities of Permanent Voters’ Cards.

    “The attention of the Nigeria Police Force and other security agencies has been drawn to the incident and have commenced investigation,” said Okoye.

    Pirates kill 6 in Akwa Ibom, burn house

    communities of Adiadia and Issiet Ekim, in Uruan Local Government Area of Àkwa Ibom State, are in mourning mood, following the invasion and killing of six persons by sea pirates.

    Besides, houses were razed at Issiet Ekim and a phone shop was looted at Adiadia, making residents desert the communities.

    A resident said: “The Issiet community is deserted. We leave the community at 6 pm and only return in the morning. We live in fear, but we are assured that security will be beefed up with the establishment of security posts in the two communities,” a source said.

    Meanwhile, Akwa Ibom state deputy governor, Moses Ekpo, has condoled with the people of the communities over the loss of lives and property in the attacks.

    Ekpo, who was accompanied on the visit by the Commissioner of Police, Mr O A Durosinma, and the Chairman of Uruan Local Government, Surveyor Iniobong Ekpenyong, said the government was concerned about the welfare of its people and would do everything within its power to avenge the deaths and ensure that succour is brought to the communities.

    He announced that with two Divisional Police stations established in the area, a full-force team would be deployed to patrol the communities which will further curtail the security threat.

    He stated that there was a need for oneness among the people so that effective communication could flow between the people, security agencies and the government.

    “Government and security agencies cannot function well without adequate information,” he said.

    Earlier, the Commissioner of Police, Mr. O. A. Durosinma, said the police command would establish a division in the area, while working with the government to ensure that lives and properties are secured, by beefing the area with more police presence.

    He added that the communities have a significant role to play in policing what belongs to them by being their brother’s keeper, while also affirming that more police officers will be deployed to the area.

    For his part, the chairman of the Uruan local government, Iniobong Ekpenyong, expressed gratitude to the state government for the “show of love and concern towards the people of Uruan,“ while also assuring that government prioritizes the welfare of the citizens and will tackle the situation accordingly.

    (Vanguard)

  • Cult group clash claims 6 lives in Anambra

    Cult group clash claims 6 lives in Anambra

    Rival cults clashed along the popular Zik Avenue, in Awka, Anambra State capital, weekend, reportedly claimed six lives.

    Residents of the area, according to sources, scampered for safety as the cultists shot sporadically during the clash for supremacy.

    Anambra State Police Public Relations Officer, Mr Tochukwu Ikenga, who confirmed the incident, said police patrol had been intensified within the area and the entire Awka.

    Following the sound of gunshots by Zik Avenue, Awka, police patrol has been intensified in Awka.““Preliminary information revealed that the cause of the shooting was a result of cult-related incident-clash.

    The situation is closely being monitored and further development shall be communicated.

    (Sun)

  • Pile of damaged Naira notes found in refuse dump

    Pile of damaged Naira notes found in refuse dump

    Damaged Naira notes continue to surface following the Central Bank of Nigeria’s (CBN’s) redesign of the nation’s currency unveiled by President Muhammadu Buhari on Wednesday, November 23, 2022.

    But in a video making rounds on social media, bags of damaged naira notes were uncovered at a warehouse in an unknown location at the time of this publication.

    The Nigerian currency was stashed in multiple bags for a long period in humid condition leading to its deterioration and decay.

    The individuals seen in the video examined each bag with the hopes of seeing untampered notes, but all were already bad.

    Meanwhile, in the lead the (CBN) effort to redesign N200, N500, and N1,000 notes currently in circulation, money outside the banking system added N108.67billion to N2.84 trillion in October 2022 from N2.73 trillion in September, its money and credit statistics has revealed.

    According to the apex bank’s data, currency outside the banks appreciated by 11.07 per cent Year-on-Year (YoY) from N2.54 trillion reported in corresponding period of 2021.

    The money and credit statistics revealed that currency outside banks hit the highest record of N2.84trillion in October. While defending its decision to redesign the Naira, the apex bank in October expressed that some individuals were stockpiling huge amounts of cash outside the banking system.

    CBN Governor, Godwin Emefiele, had in a statement said, “Significant hoarding of banknotes by members of the public, with statistics showing that over 85 per cent of currency in circulation are outside the vaults of commercial banks.

    “To be more specific, as at the end of September 2022, available data at the CBN indicate that N2.73 trillion out of the N3.23 trillion currency in circulation, was outside the vaults of Commercial Banks across the country; and supposedly held by the public.

    “Evidently, currency in circulation has more than doubled since 2015; rising from N1.46 trillion in December 2015 to N3.23 trillion in September 2022. This is a worrisome trend that cannot be allowed to continue.”

    The statistics revealed that currency-in-circulation (CIC) grew YoY by 11.22 per cent to N3.3 trillion in October 2022 from N2.97 trillion in 2021.

    Analyst and President, Bank Customers Association of Nigeria (BCAN), Dr. Uju Ogubunka attributed the increasing CIC to politicians’ spending towards the 2023 primary elections.

    (Sun)