SATURDAY 29TH OCTOBER 2022

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Naira Redesign: CBN Didn't Consult Finance Ministry, Says Minister Warns new notes will have dire consequences on Naira’s value CBN: We followed due process and the law Sunday Aborisade, James Emejo, Nume Ekeghe and Oluchi Chibuzor The Minister of Finance, Budget and National Planning, Zainab Ahmed yesterday declared that

the Central Bank of Nigeria (CBN) did not carry her Ministry along in its plan to redesign and roll out new N200, N500 and N1000 notes effective December 15, announced last Wednesday.

In a swift reaction last night, the CBN said it was surprised by the ministers outburst and that due process was followed in arriving at the Naira redesign project, including obtaining the approval of President

Muhammadu Buhari. On the same day, officials of the CBN doused concerns about the cost of printing the new notes, saying they will come at no outrageous cost, printed in the country and

within the budget of the apex bank. The Minster, who was responding to posers raised by Senator Opeyemi Bamidele (APC Ekiti Central) during the 2023 budget defence session at the Senate Committee on Finance,

warned that the new notes could have dire consequences on the value of the Naira. Bamidele had told the Finance Continued on page 5

A’Court Stops Execution of Judgement Freeing Nnamdi Kanu... Page 8 Saturday 29 October, 2022 Vol 27. No 10063

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Fitch: A Tinubu Presidency will Increase Social Instability in Nigeria Predicts victory for him, doubts his ability to end fuel subsidy regime Ahamefula Ogbu A Fitch Solutions Country Risk and Industry Research report

released on Thursday has predicted victory for the candidate of the All Progressives Congress (APC), Bola Tinubu, in the 2023

presidential election. However, the report on the Nigerian presidential election, done by a subsidiary of

international credit rating firm, Fitch Ratings’, projected that the victory will lead to protests and social instability in the country

because of the Muslim-Muslim ticket and the expectations of the followers of Labour Party’s candidate, Peter Obi, that will

be dashed. It stated that notwithstanding Continued on page 5

Abuja Terror Alert: Don’t Panic, President Tells Nigerians Security agencies in joint manhunt for ISWAP members in Abuja Hundreds flee as terrorists pound Zuru and Fakai LGs in Kebbi State Deji Elumoye and Kingsley Nwezeh in Abuja President Muhammadu Buhari yesterday urged Nigerians not to panic over the recent travel advisory issued by the United States and United Kingdom governments, warning their citizens to steer clear of Abuja because of the risk of terrorist attack. This is coming on the heels of confirmation by security agencies that they had been raiding hideouts of terror suspects in Abuja and satellite towns in the last few days, but denied involvement of United States soldiers. However, residents of Fakai and Zuru local government areas of Kebbi State are being forced to flee their settlements following sustained attacks by terrorists. The US Embassy in Abuja had issued an alert for “an elevated risk of terror attacks” in the city, saying that possible targets include government buildings, places of Continued on page 5

PROMOTING EKITI STATE… L-R: Senator Opeyemi Bamidele (Ekiti Central); Senator Gabriel Suswan; Ekiti State Governor, Biodun Oyebanji; Senate President, Ahmad Lawan and Senator Olubunmi Adetunbi (Ekiti North); during the Governor’s meeting with the Senate President at the National Assembly… Thursday

EFCC: Jonathan's N4.6bn Campaign Funds Still Under Investigation... Page 8


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SATURDAY 29TH OCTOBER 2022 by THISDAY Newspapers Ltd - Issuu