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Bola Tinubu: Cashless Policy Or Not, My Election Victory Was Always Sure

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PRESIDENT TINUBU: CASHLESS POLICY OR NOT, MY ELECTION VICTORY WAS SURE

 

President Bola Tinubu on Thursday in Ijebu-Ode, Ogun State, said he remained hopeful and optimistic about achieving victory in the last presidential election, despite the ineffective cashless policy implemented by the Central Bank of Nigeria.

 

The President spoke in separate remarks at the palaces of the Paramount ruler of Ijebuland, Oba Sikiru Adetona, in Ijebu-Ode and Alake of Egbaland, Oba Adedotun Gbadebo, in Abeokuta , during a thank-you visit to the Royal Fathers.

Reflecting on the challenges in the build-up to the 2023 presidential election, President Tinubu recounted his concerns about the confiscation of funds and the failure of the cashless policy, and how he had previously sought wisdom and guidance from Oba Adetona during his visit to the palace.

According to the President, he invoked the spirits of freedom and determination, symbolised by “Baba Emilokan,” to overcome the obstacles in the election.

“Our monies were confiscated. The cashless policy didn’t work, it was terrible then. I realised that, I came to Ogun State to invoke the spirit of freedom which we are noted for.

“I invoked that spirit twice. The spirit of Baba Emilokan. That’s Baba. Being blunt, being decisive, that’s him, he will tell you. The second spirit is that money or no money (we will do the election and we will win),” he said.

President Tinubu acknowledged that these spirits had been the driving force behind his service and expressed his gratitude to Oba Adetona, all the Obas, elected officials, particularly his ‘personal friend’, Senator Gbenga Daniel, the Senator representing Ogun East.

He thanked them for their loyalty and commitment during those crucial times in the 2023 election.

The President, who described his visit to Ijebu-Ode as a homecoming, told Kabiyesi:

“The way you have taken me, the way you have responded to me, all I can say is thank you. May you live long and may you witness a prosperous Nigeria.”

He also acknowledged the presence of Chief Mike Adenuga, Nigerian billionaire businessman, and expressed pride in his contributions to the Nigerian economy.

During his visit to Abeokuta, President Tinubu thanked the Alake of Egbaland, Oba Adedotun Gbadebo, for receiving him, describing him a great leader.

He expressed his commitment to fulfilling his promises and appealed for prayers from the citizens of the state to ensure progress and stability in the country.

“I have redeemed my pledge that I will come back with victory and the crown.

“The hope is recharged; the hope is here. That hope will never fail. That hope will recharge your lives in a positive manner.

“By the grace of Almighty God, we shall reap the fruits of our labour, Nigeria will see positive change, just endure these baby steps of pain.

“This country is the only one we have. I have been a refugee and I know what it means to be a refugee and my green passport is what I still have now.”

In separate remarks at the palaces of the Paramount ruler of Ijebuland and Alake of Egbaland, Oba Adedotun Gbadebo, in Abeokuta, Governor Dapo Abiodun of Ogun State thanked the President for the visit to the State, describing him as a man of uncommon grace and a living testimony of resilience.

Chronicling the President’s antecedents as a visionary politician, the governor said the pronouncement of President Tinubu in the first few weeks in office had defined him as rightly prepared and qualified for office.

Oba Adetona and Oba Gbadebo, in separate remarks in their palaces, commended President Tinubu for his leadership, acknowledging him as an instrument of God chosen to rectify past shortcomings.

They offered prayers for the President’s guidance and good health, urging Nigerians to support his administration.

Also speaking, Oba Babatunde Ajayi, the Akaraigbo of Remoland, who commended the President for starting his administration exceptionally well, noted that the people need urgent palliatives to mitigate the effects of the current challenges.

He lauded the wise decisions so far taken by the administration, reminding the President of his promise to bring development to Remo.

”I remember when you came to the palace and all we said is our dream is for you to go and win the primaries, and that once you win the primaries, I’m sure that God will take us there. I’m glad that God took us there.

”I want to remind you of what you said when you came to Remo. You said with the proximity of Shagamu to Lagos, you were surprised at the level of development in Remo. This is the time Mr President to walk that talk,” he said.

Dele Alake
Special Adviser to the President
Special Duties, Communications and Strategy
June 29, 2023

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EFCC bars dollar transactions, orders embassies to charge in naira

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The Economic and Financial Crimes Commission has barred foreign missions based in Nigeria from transacting in foreign currencies and mandated them to use Naira in their financial businesses.

 

The EFCC has also mandated Nigerian foreign missions domiciled abroad to accept Naira in their financial businesses.

 

The anti-graft agency said the move is to tackle the dollarisation of the Nigerian economy and the degradation of the naira

The Commission, therefore, asked the government to stop foreign missions in Nigeria from charging visa and other consular services in foreign denominations.

The EFCC gave the advisory in a letter to the Minister of Foreign Affairs, Amb. Yusuf Tuggar, for onward transmission to all foreign missions in the country.

In the letter, the EFCC said it issued the advisory because the practice of paying for consular services in dollars was in conflict with extant laws and financial regulations in Nigeria.

In a letter dated April 5, 2024, which was addressed to the Minister of Foreign Affairs, Ambassador Yusuf Tuggar, titled: “EFCC Advisory to Foreign Missions against Invoicing in US Dollar,” the EFCC Chairman, Ola Olukoyede expressed dismay over the invoicing of consular services in Nigeria by foreign missions in dollars.

The EFCC cited Section 20(1) of the Central Bank of Nigeria Act, 2007, which makes currencies issued by the apex bank the only legal tender in Nigeria.

The letter read, “I present to you the compliments of the Economic and Financial Crimes Commission, and wish to notify you about the commission’s observation, with dismay, regarding the unhealthy practice by some foreign missions to invoice consular services to Nigerians and other foreign nationals in the country in United States dollar ($).

“It states that ‘the currency notes issued by the Bank shall be the legal tender in Nigeria on their face value for the payment of any amount’.

“This presupposes that any transaction in currencies other than the naira anywhere in Nigeria contravenes the law and is, therefore, illegal.”

The commission further stated that the rejection of the naira for consular services in Nigeria by certain missions, along with non-compliance with foreign exchange regulations in determining service costs, is not just unlawful but also undermines the nation’s sovereignty embodied in its official currency.

The letter continues: “This trend can no longer be tolerated, especially in a volatile economic environment where the country’s macroeconomic policies are constantly under attack by all manner of state and non-state actors.

“In light of the above, you may wish to convey the commission’s displeasure to all missions in Nigeria and restate Nigeria’s desire for their operations not to conflict with extant laws and regulations in the country.”

Diplomatic sources said yesterday, May 10, that some embassies were wondering whether the EFCC’s advisory represented the position of the Federal Government.

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Prince Harry visits sick Nigerian soldiers in Kaduna

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Prince Harry and his team visited the 44 Nigerian Army Reference Hospital in Kaduna to interact with wounded soldiers who are receiving treatment.

 

The Duke of Sussex is in Nigeria with his wife to champion the Invictus Games, which Harry founded to aid the rehabilitation of wounded and sick servicemembers and veterans.

 

Nigeria joined the Invictus Community of Nations in 2022 becoming the first African country to join.

Prince Harry’s visit to Kaduna came 68 years after his late grandmother Queen Elizabeth II visited the state during the time of the late Premier of Northern Region Sir Ahmadu Bello.

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