CBN clears air on reported introduction of N2000, N5000 notes into the economy
The Central Bank of Nigeria (CBN) branch controller, Umar Ibrahim Biyu, stated that the CBN has no plans to introduce N2,000 and N5,000 notes.
He stated this during a sentisation exercise at Dawanau International Grains Market, Kano.
Biyu described the naira redesigned policy as necessary and called on the marketers to ensure they deposit the old currencies with them before January 31, 2023.
He said everyone is allowed to deposit any amount of money he or she has within the given period without charges.
Biyu explained that the redesigning of the currency is necessary as provided by Section 2(b) of the CBN Act, which states that currencies are due to be renewed every five years.
“But the last time the Naira was renewed was 18 years ago. This has given room for fake currencies (counterfeits), lesser money in the bank with over 80 percent in circulation in the public and reduced financial inclusion.
“The redesigning of it also serves as a major step in fighting corruption in the country,” he said.
He added: “Redesigning the larger denominations of the Naira will curb the circulation of fake currencies which affects the economy.
“Only 15 percent of the currency is in the banks. Over 80 percent are out there in circulation or hoarded.
“This has reduced financial inclusion, even with the people’s oriented policies of the government,” the CBN controller said, dismissing speculations that the apex bank has planned to introduce N2000 and N5000 notes.
He also dismissed claims that the redesigned notes are substandard, explaining that the texture and quality are enhanced and well secure.
“The colour that is said to be coming off when rubbed with a slightly wet tissue is not abnormal; it is the reflection of a high-quality ink called interblio used in minting it. Even a brand new Dollar note is like that.
“You should therefore return all the N200, N500 and N1000 denominations in your possessions. Those who have accounts should open the eNaira accounts to ease transactions and those who don’t have accounts should quickly go to commercial banks and open accounts,” he stated.
The prosecutor, PC Olapeju Durodola, told the court that the defendant and others now at large committed the offences on Nov. 30, 2024, at Mufu Lanihun, at Yidi Agugu in Ibadan.
She said that the defendant allegedly
added a substance to her boyfriend’s drink, one Waris Olamilekan, to make him lose consciousness.
According to her, the defendant stole the money after adding the substance in the complainant’s drink.
Durodola said the offences contravened Sections 390(9) and 516 of the Criminal Code, Laws of Oyo State, 2000.
The Chief Magistrate, Mrs Olabisi Ogunkanmi, admitted the defendant to bail in the sum of N2 million with two sureties in like sum.
Ogunkanmi said one of the sureties must be a property owner within the court’s jurisdiction, while the second surety must be a blood relation to the defendant.
She, thereafter, adjourned the matter until May 26 for hearing.(NAN)
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Supreme Court nullifies Rivers Local Govt elections conducted by Gov Fubara
Supreme Court nullifies Rivers Local Govt elections conducted by Gov Fubara
The Supreme Court on Friday, nullified the Local Government election in Rivers, which was conducted on Oct. 5, 2024.
A five-member panel of the apex court unanimously held that the election was conducted in violation of relevant laws.
Justice Jamilu Tukur, in the lead judgment, agreed with the appellant, the All Progressives Congress (APC), that conditions precedent were not complied with before the Rivers State Independent Electoral Commission (RSIEC) held the election.
Justice Tukur held that there was no evidence that the voters’ registration continued until 90 days before the election and that the requisite notices were issued as required by law.(NAN)
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Akpabio harassing me because I refused his s3xual advances – Senator Natasha alleges
Akpabio harassing me because I refused his s3xual advances – Senator Natasha alleges
The Senator representing Kogi Central, Natasha Akpoti-Uduaghan, has accused Senate President Godswill Akpabio of sexual harassment, reigniting a heated public dispute.
Speaking on ARISE TV on Friday, Akpoti-Uduaghan revealed her allegations, which follow a previous confrontation with Akpabio over the unauthorized change of her Senate seat.
The controversial seat change sparked a tense argument between the two, leading to Akpoti-Uduaghan being referred to the Senate’s Committee on Ethics, Privileges, and Public Petitions for disciplinary review.
Chaired by Senator Neda Imaseun (LP, Edo South), the committee was given two weeks to present its findings after lawmakers revisited the matter. They emphasised the importance of adhering to parliamentary rules and maintaining decorum.
Adding fuel to the fire, Akpoti-Uduaghan has filed a N100.3 billion fundamental human rights lawsuit against Akpabio. During her interview, she claimed to have evidence supporting her allegations, including screenshots of WhatsApp conversations between her and Akpabio.
She also stated that her husband is a witness to the events, and she challenged the Department of State Services (DSS) to examine the conversations for further details, as Akpabio frequently contacted her via the messaging platform.
She said: “My issue with Akpabio started on 8th of December, 2023 when myself and my husband visited Akwa Ibom for Senator Akpabio’s birthday. Akpabio was showing me around his house and was holding my hands with my husband following behind us when he said, he wants me to come and be spending special moments in his house. My husband heard him and later told me not to travel abroad alone or be with the Senate President alone.
“In February, I wanted to move a motion for the investigation on the ills of the corrupt practice in a Ajaokuta steel company. I listed that motion five times. It was the sixth time that it was listed on the order paper that was approved. Many senators can testify to that.
“Before the motion made the order paper, I went to the Senate President in his office, and I said, Senate President,’ you know how important this Ajaokuta Steel Company is to me, you know how important it is to my people and to Nigerians. I’ve noticed that you have stepped down this motion’. As a matter of fact, a number of senators told me to see him and plead with him so that he would take it. I was like, ‘sir, please, why can’t you take this motion? It’s very important’ Then, it was listed the third time and stepped down.
“He then said, ‘Natasha, I’m the Chief presiding officer of the Senate, you can enjoy a whole lot if you take care of me. Make me happy’. At that point, I said, ‘Sir, I’ll pretend that I didn’t hear this’. He said, ‘well, the ball is in your court’. I left his office
“My case is a case of a student being punished by a lecturer for refusing to sleep with him.”
Akpabio has not yet responded to the allegation, which is currently trending online.