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Today's Headlines: Why APC Can’t Sanction Emefiele; Court Denies Ex-Imo Deputy Gov Bail

Why APC Can’t Sanction Emefiele

Photo Credit: Punch Newspaper

The ruling All Progressives Congress on Tuesday explained why it could not mete out sanction to the Governor of Central Bank of Nigeria, Godwin Emefiele, for defying the Supreme Court verdict on the controversial cash swap policy.

The scarcity of the new naira notes brought about by the CBN policy had generated tension and visited untold hardship on the masses.

In the last two months, a considerable number of Nigerians have thrown caution to the wind and invaded several banks to register their displeasures in bizarre manners.

Viral video clips of half-clad customers breaking down bank gates and threatening to beat officials have surfaced on social media space.

Court Denies Ex-Imo Deputy Gov Bail

Photo Credit: The Nation

The legal battle to release the immediate past Imo Deputy Governor Gerald Irona from prison custody failed again as Justice S. I Opara of the Imo State High Court sitting in Owerri, the state capital, on Wednesday denied him bail.

Irona was denied bail by the Judge after the prosecution argued that his bail application was filed late on Monday.

The prosecutors argued that as of Wednesday morning when the accused was arraigned, the 48 hours allowed by law to enable the prosecutors to respond on points of law subsisted.

The prosecutors said it would be unlawful for the Judge to entertain the bail application when counter bail application had not been filed by the prosecutors.

But one of the counsels to the accused, S. I Imo urged the judge to go ahead to hear the application and grant his client bail, arguing that as a former member of the house of representatives and the immediate past deputy governor of the state, his client was qualified in the eyes of the law to be granted bail.

Afenifere To Tinubu: Prioritise Security, Economy, Unemployment, Other

Photo Credit: Daily Post Nigeria

The Afenifere socio-political organization has urged the president-Elect, Bola Tinubu to prioritize security, economy, and unemployment on assumption of office on May 29.

Afenifere said Tinubu should also pay close attention to urgent matters that will restore peace and tranquillity in Nigeria.

Reuben Fasoranti, the leader of Afenifere made the demand in a statement by the organization’s administrative secretary, Oladiran Adesua.

Fasoranti lamented that “Nigeria has never known this level of insecurity before.”

According to Fasoranti, Tinubu should “focus on two key areas upon his assumption of office as President.

Nigeria’s Inflation Rises Above 21% Amid Cash Scarcity

Photo Credit: Daily Trust

Nigeria’s inflation figure rose to 21.91 percent in February, the month of when Nigerians suffered acute cash scarcity.

According to a report released by the National Bureau of Statistics (NBS) on Wednesday, headline inflation rate increased by 0.09 basis points when compared to the January 2023 rate of 21.82 percent.

Similarly, on a year-on-year basis, the headline inflation rate was 6.21 percent points higher compared to the rate recorded in February 2022, which was 15.70 percent.

“This shows that the headline inflation rate (year-on-year basis) increased in February 2023 when compared to the same month in the preceding year (i.e., February 2022).”

It said items that contributed to the increase are; bread and cereal (21.67 percent), actual an imputed rent (7.74 percent), potatoes, yam and other tubers (6.06 percent), vegetable (5.44 percent) and meat (4.78 percent).

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All Progressives Congress Godwin Emefiele Nigerians Punch Supreme Court


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