11 persons burnt to death in Ondo Road accident

A fatal motor accident has occurred at Soka Bridge in Ore, the headquarters of Odigbo Local Government Area leaving eleven persons burnt to death.

The identities of the victims are yet to be ascertained.

It was gathered that the accident involved a trailer and a Marcopollo bus.

Eyewitnesses said that the accident was caused by one way driving by the trailer.

“The trailer passed through one way and in the process collided with the Marcopollo bus which is coming Benin road.

The bus caught fire in the process.

The Federal Road Safety Corps, Unit Commander in Ore, Mr Sikiru Alonge confirmed the news to our correspondent via phone call.

He said the incident caused traffic congestion along the route and all the eleven persons were burnt beyond recognition.

“The Fire has been extinguished, while the traffic is being controlled on the Benin/Lagos Lane.

“Efforts are on top gear with other security agencies to remove crashed vehicles from the road”, Alonge said.

He, however, urged motorists to always obey all traffic rules to avert further tragedy.

NEW CURRENCY CONTROVERSY: GOVERNMENT WILL ELIMINATE SQUEEZE, CHAOS IN CURRENCY SWAP. – BUHARI

President Muhammadu Buhari, has assured that government will ensure that citizens are unharmed in their businesses and no disruption is caused to the entire supply chain arising from the currency swap due to end shortly.

The President was reacting to reports of long queues of people waiting for hours for their turn to deposit old notes and get new ones, triggering public anger and opposition’s criticism, President Buhari reiterated that the currency changes were aimed at people hoarding illicit funds and not the common man, and that it had become necessary to prevent counterfeits, corruption, and terrorist funding.

He insists this will stabilize and strengthen the economy, but also acknowledged that the poorest section of society is facing hardship as they often keep hard cash at home for various expenses, President Buhari gave strong assurances that the government will not leave them to their own fate.

He said that a number of initiatives by the Central Bank and all commercial banks are underway to speed up distribution of the new notes and do all that is necessary to forestall cash squeeze and chaos.

CBN EXTENDS CURRENCY SWAP DEADLINE TO FEBRUARY 10TH

President Muhammadu Buhari has approved a 10-day extension of the deadline for the swapping of the old notes to the redesigned new currency.

The new deadline will now be the 10th of February 2023.

This is the outcome of a meeting between President Muhammadu Buhari and the Givernor of the Central Bank, Godwin Emefiele in Daura Katsina State.

After the meeting, the Governor of the Apex Bank disclosed to journalists that 75 percent of the N2.7 trillion held outside the banking system has been recovered and he said Nigerians in the rural areas, villages, the aged and vulnerable have had the opportunity to swap their old notes; leveraging the Agent Naira Swap initiative as well as the CBN Senior staff nationwide sensitization team exercise.

Emefiele revealed that President Buhari also approved another seven-day grace period, beginning on February 10 to February 17,2023, to enable Nigerians to deposit their old notes at the CBN after the February 10 deadline when the old currency would have lost its Legal Tender status.

Emefiele says the 7-day grace period, beginning on February 10 to February 17,2023, is in compliance with Sections 20(3) and 22 of the CBN Act allowing Nigerians to deposit their old notes at the CBN.

The Governor of the Apex Bank has been under intense pressure over his insistence on the January 31 deadline, he has also shunned several invitations and directives from the National Assembly to shift the deadline.

Also the Presidential Candidate of the All Progressices Congress had criticised the policy for inflicting hardship on Nigerians and called for an extension of the deadline

The 10-day extension, may now calm frayed nerves and give more time for Nigerians to deposit their old currencies before it stops being a legal tender