• CBN Presses Ahead with Phasing Out Old Naira Notes
• Resident Doctors Declare Indefinite Strike Amidst Unresolved Demands
• Senate Leader Announces President Tinubu’s Ministerial List Submission Within 48 Hours
• Adamu and Omisore Make Unannounced Visit to Aso Villa
• Ogun State Govt Initiates N10,000 Payments to Alleviate Fuel Subsidy Removal Impact

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss

CBN Presses Ahead with Phasing Out Old Naira Notes

The Central Bank of Nigeria (CBN) remains resolute in its efforts to phase out the old N200, N500, and N1,000 naira notes, as the issuance of new currency continues unabated. The announcement came from Folashodun Shonubi, the acting governor of the apex bank, after the conclusion of the monetary policy committee (MPC) meeting held at the CBN headquarters in Abuja on Tuesday.

The plan to revamp the N200, N500, and N1,000 naira bills was initially unveiled by former CBN governor, Godwin Emefiele, back in October 2022. Nigerians were urged to deposit their old notes before January 31, 2023, as they would cease to be considered legal tender after that date.

However, the demonetisation process faced a setback when, in March 2023, the supreme court invalidated the naira redesign policy introduced by the central bank. The ruling stated that the old N200, N500, and N1,000 notes would retain their status as legal tender until December 31, 2023.

Offering insights into the current status of the demonetisation policy, Shonubi emphasized that the old notes would gradually be replaced over time. As and when commercial banks request new currency, the CBN facilitates the exchange by taking in old notes and issuing the new ones in return.

Shonubi explained, “When a currency is printed and sent out, it is expected to go through several cycles, and over time, be replaced. That’s what we’re doing.” He further emphasized that the process of replacing old notes with new ones is a steady and systematic one, aimed at maintaining an optimal level of currency in circulation, rather than simply flooding the market with money.

The gradual replacement, according to Shonubi, will not be accompanied by any grand fanfare but will rather happen subtly and steadily. As the new notes become more prevalent, the old notes will naturally phase out from the system.

Resident Doctors Declare Indefinite Strike Amidst Unresolved Demands

In a bold move that sent shockwaves across the healthcare sector, the National Association of Resident Doctors (NARD) announced a “total and indefinite strike action,” according to an exclusive statement released to Channels Television on Tuesday evening.

The resident doctors outlined their crucial demands, which encompass the immediate payment of the 2023 Medical Residency Training Fund (MRTF) and the release of the circular on one-for-one replacement. Additionally, they emphasized the pressing need for the payment of skipping arrears, a point that has been a longstanding concern for the association.

Among the grievances listed in the statement, another key demand is the upward revision of the Consolidated Medical Salary Structure (CONMESS) to restore full salary levels to the 2014 standard. Moreover, the doctors are resolute in their call for the payment of arrears of consequential adjustment of minimum to the omitted doctors and the reversal of the downgrading of the membership certificate by the Medical and Dental Council of Nigeria (MDCN).

Furthermore, the association is seeking the payment of the MRTF, implementation of new hazard allowances, skipping, and corrected CONMESS in State Tertiary Health Institutions, along with the payment of omitted hazard allowance arrears, which they consider integral to their welfare.

The decision to go on strike comes after NARD had issued a two-week ultimatum to the Federal Government on July 5, urging for the full implementation of their demands. However, with the deadline having passed without substantial progress, the resident doctors felt compelled to take more drastic action.

Efforts to avert the strike were made by the Speaker of the House of Representatives, Tajudeen Abbas, who engaged in private deliberations with NARD’s leadership on Monday. In a bid to find a resolution, Abbas pledged to meet with President Bola Tinubu and established an ad hoc committee to engage with all stakeholders involved and address the pressing issues at hand.

As the situation unfolds, the house leadership appeals to NARD for a two-week grace period to explore solutions to the grievances raised and prevent further disruptions to the healthcare system.

Senate Leader Announces President Tinubu’s Ministerial List Submission Within 48 Hours

Michael Bamidele, the Senate Leader, made a significant announcement on Tuesday during the public presentation of books to commemorate his 60th birthday at the Shehu Musa Yar’Adua Centre in Abuja. He revealed that President Bola Tinubu is expected to submit his ministerial list to the National Assembly within the next 48 hours.

Addressing the attendees, Bamidele shared that the President’s absence at the event was due to his dedication to preparing the ministerial list, emphasizing the importance of making the right decisions in the best interest of the nation. He urged Nigerians to pray for President Tinubu so that when the list of ministers is unveiled, it will be met with widespread approval, recognizing its significance and potential for positive change.

The anticipation surrounding the ministerial list submission has heightened, as Nigerians await the unveiling of the new cabinet and the policies that will shape the administration’s direction.

Meanwhile, Toyin Ogundipe, the former Vice-Chancellor of the University of Lagos, also spoke at the event, calling on political officeholders to take steps in reducing the cost of governance. One of the suggestions made was to streamline their convoys by reducing the number of vehicles. Ogundipe emphasized that such measures would demonstrate leaders’ empathy towards the citizens’ hardships and foster a better public perception.

In particular, Ogundipe questioned the inclusion of Vehicle Inspection Officers (VIO) and the Federal Road Safety Corps (FRSC) in the presidential and vice-presidential convoys when police presence could suffice for security purposes.

As the nation anticipates President Tinubu’s ministerial list, political leaders are urged to consider prudent governance practices and demonstrate sensitivity to the people’s needs and concerns, setting a precedent for accountable leadership.

Adamu and Omisore Make Unannounced Visit to Aso Villa

Senator Abdullahi Adamu and Senator Iyiola Omisore, who resigned from their positions in the National Working Committee (NWC) of the ruling All Progressives Congress (APC) over a week ago, were unexpectedly seen at the Aso Villa in Abuja on Tuesday. However, the two politicians left the Presidential Villa without briefing the press, leaving questions about the purpose of their visit unanswered.

While it remains unclear whether Adamu and Omisore had a meeting with President Bola Tinubu, who was away in Kenya for the Fifth Mid-Year Coordination Meeting of the African Union when their resignations were tendered on July 17, 2023, their presence at the Aso Villa is believed to be related to the ongoing crisis within the ruling party.

The recent leadership change in the APC saw Senator Abubakar Kyari, the Deputy National Chairman (North), stepping up as the party’s National Chairman, replacing Adamu. This succession took place after an NWC meeting in Abuja.

Addressing reporters following the NWC meeting, Kyari officially announced the voluntary resignations of Adamu and Omisore from their roles as the party’s National Chairman and National Secretary, respectively. He also mentioned that in line with the party’s constitution, the Deputy National Secretary, Festus Fuanter, would serve as the acting National Secretary of the APC.

The specific reasons behind the resignations of Adamu and Omisore have not been disclosed yet, but Kyari assured reporters that further information would be provided in due course.

Notably, Senator Adamu was absent from the NWC meeting on July 17, 2023, while Senator Omisore left the meeting abruptly, which further added to the intrigue surrounding their resignations.

As the crisis within the ruling party continues to unfold, the unexpected visit of the former NWC members to Aso Villa raises eyebrows and leaves room for speculation about the possible discussions and developments in the APC’s internal affairs.

Ogun State Govt Initiates N10,000 Payments to Alleviate Fuel Subsidy Removal Impact

The Ogun State Government has taken a significant step to address the hardships caused by the removal of fuel subsidy by initiating N10,000 cash payments to workers and pensioners in the civil service. Governor Abiodun announced the palliative measure, which is part of the administration’s response to the immediate hike in fuel prices, resulting from the policy declared by President Bola Tinubu in May.

The fuel subsidy removal led to a sudden surge in fuel prices, leaving citizens grappling with soaring transportation costs and rising food prices. Many have been compelled to resort to trekking long distances due to the financial strain.

Governor Abiodun, during a live appearance on Channels Television’s Politics Today, stated that the N10,000 cash payment would alleviate the burden on civil servants and pensioners, making a positive impact on their daily lives. The move is aimed at serving as a model for similar interventions in the private sector, motivating employers to augment the take-home pay of their workers affected by the fuel subsidy removal.

Highlighting the efforts to consider the broader population’s welfare, Abiodun emphasized that other provisions were rolled out on Monday, including converting commercial vehicles’ engines from petrol to Compressed Natural Gas (CNG), a more economical fuel option.

The decision to implement the cash payments followed extensive discussions with the state chapters of the Trade Union Congress of Nigeria (TUC), the Nigeria Labour Congress (NUC), and the Joint Negotiating Council (JNC). The agreement reached was to provide a uniform payment of N10,000 across all levels (from level one to level 17) in the civil service, benefiting approximately 74,000 workers and pensioners in Ogun State.

Governor Abiodun estimated that, with an average of three to four dependents per worker or pensioner, the cash transfer would directly and indirectly impact around 280,000 people. Though this group represents less than 10 percent of Ogun State’s population, the government aims to promptly implement this intervention, with the expectation that the private sector will follow suit in providing relief to their employees.

As the state government takes proactive steps to ease the economic strain caused by the fuel subsidy removal, it hopes that this initiative will set an example for other entities, fostering a collaborative effort to alleviate hardships and ensure the well-being of workers and their dependents.