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CBN Approves Circulation Of Old Notes

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CBN Approves Circulation Of Old Notes

CBN Approves Circulation Of Old Notes

The Central Bank Of Nigeria has approved the circulation of old naira notes to customers at their various Banks’ .automated teller machines (ATMs) terminals and over the counter.

The development is in compliance with the new directive of the supreme court, extending the validity period of the old notes to the end of the year.

Bank officials on Tuesday stated that the circulation of old notes has been approved by CBN till December 31.

Isa Abdulmumin, CBN spokesperson confirmed the development.

He said both the old and new notes are legal tender and banks are currently issuing to customers.

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However, he said the CBN was yet to issue an official statement on the matter.

“Banks are paying old notes as well as new notes. They are all legal tender,” he said.

“Yes, the CBN has not issued an official statement on the issue. Anyone banks give to you, you can collect. We just want to make life easy for Nigerians.”

Abdulmumin expressed concern on the continued rejection of the old notes by some traders and transporters.

He said the old notes should not be rejected as they are still a valid means of exchange.

“No. They can’t reject it. It’s all legal tender,” he said.

Checks on Tuesday show that some commercial banks have stated to comply with the court order, despite silence from the CBN and President Muhammadu Buhari.

It was observed that a Zenith Bank branch in Festac Town paid out the old notes to customers over the counter.

“It has been approved by CBN for circulation till December 31 and that’s why we can dispense to our customers,” a bank official said.

Another bank official said the branch had “received orders to begin dispensing old notes to our customers”.

The ATMs at the branches of the United Bank for Africa (UBA) close to Agege-Pen Cinema Bridge, and Guaranty Trust Bank (GTB) in the Ikeja area Lagos, were also dispensing the old notes according to reports.

Following the controversy that trailed the naira redesign policy of the Central Bank of Nigeria (CBN) from October last year, several states sought the supreme court’s intervention in extending the validity of the old N200, N500, and N1, 000 notes.

On February 8, the court restrained the CBN from enforcing the February 10 deadline following an ex parte application brought by the states.

It later insisted that the old notes remained legal tender while adjourning the hearing of the case brought against the CBN on the policy on February 15.

Oasis Magazine reported that a seven-member panel of the apex court held that the old N200, N500 and N1000 remain valid legal tender until 31 December 2023.

The supreme court faulted the entire policy of the CBN, saying the timing and implementation were defective.

The apex court held that the directive by President Muhammadu Buhari to the Central Bank of Nigeria (CBN) for the redesigning and withdrawal of old notes of N200, N500 and N1,000, without consultation with the states, the Federal Executive Council (FEC) and the National Council of State and other stakeholders, was unconstitutional.

The apex court observed that no reasonable notice was given before the implementation of the policy as provided under the CBN Act.

CBN Approves Circulation Of Old Notes

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National

Peter Obi Dismisses Claims of Accepting 2027 Vice Presidential Role

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Peter Obi Dismisses Claims of Accepting 2027 Vice Presidential Role

Peter Obi Dismisses Claims of Accepting 2027 Vice Presidential Role

Peter Obi, the Labour Party’s presidential candidate in the 2023 general election, has refuted claims that he agreed to become a vice-presidential candidate in the 2027 elections. The former Anambra State Governor addressed the issue via a series of posts on his official X account on Saturday, accusing certain groups of misinterpreting his recent interview.

Obi emphasized that his remarks during the News Central TV interview had been deliberately distorted by propagandists, and he reiterated his unwavering commitment to the Labour Party and Nigeria’s progress.

https://www.facebook.com/Ochuwa24news/videos/820328146751630

Clarifying his stance, Obi stated, “I am not focused on 2027 when Nigerians are grappling with hunger, poverty, insecurity, and other urgent challenges.” He noted that he is open to partnerships, but only with individuals whose intentions align with advancing the country, not capturing state power.

Obi further stressed that his priority is to address pressing national issues, including bringing millions of out-of-school children back into classrooms and combating poverty. He categorically denied any agreement to serve as a vice president, saying, “For the avoidance of doubt, I never stated at any time that I would be vice president to anyone.”

Despite the rumors, Obi reaffirmed his dedication to Nigeria’s development, insisting that true progress can be achieved without necessarily holding political office.

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Entertainment

Tjay Emerges as Week 7 Head of House in BBNaija, Gains Immunity

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Tjay Emerges as Week 7 Head of House in BBNaija, Gains Immunity

Tjay Emerges as Week 7 Head of House in BBNaija, Gains Immunity

Tjay has been crowned the Head of House (HoH) for week seven in the Big Brother Naija (BBNaija) ‘No Loose Guard’ season, becoming the second solo HoH of the competition.

The announcement followed the unpairing of housemates, marking the start of individual gameplay after weeks of competing in duos.

In the week’s challenge, housemates navigated through a maze of laser beams in the arena before transferring mini cubes from one bottle to another.

Tjay, formerly part of Team Beta with his close friend Ben, completed the task in record time, securing his position as the new HoH.

With this win, Tjay gains immunity from eviction for the week, ensuring his safety in the game as the competition heats up.

This victory comes after Onyeka became the first solo HoH in the previous week, following a string of duo HoHs, including Mbadiwe Twins and Team Ndi Nne.

As the show progresses, housemates are vying for the ultimate grand prize of N100 million, with the stakes growing higher each week.

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National

NOA launches birth registration campaign in Gombe, urges community participation

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NOA launches birth registration campaign in Gombe, urges community participation

NOA launches birth registration campaign in Gombe, urges community participation

The National Orientation Agency (NOA) in collaboration with the National Population Commission (NPC), has begun birth registration sensitisation in Gombe State with a call on residents to embrace the exercise.

The campaign is being supported by the United Nations Children’s Fund (UNICEF).

Speaking at the event in Gombe on Thursday, Mrs Adaline Patari, the state director, NOA, Gombe State office, said the move was to protect the future of children in the state.

Patari said the exercise was a nationwide birth registration social mobilisation drive, aimed at ensuring that every child in Nigeria had access to education, healthcare, and other essential services.

According to her, the drive is focused on registering all children aged 0-5 years and providing them with a National ldentification Number (NIN) free of charge.
She said that the birth registration drive would run from August to November 2024.

“Birth registration is a fundamental right of every child, and this initiative seeks to highlight its importance to the child, the family, the community, and the nation at large.

“Birth registration is the first legal acknowledgement of a child’s existence and is essential for safeguarding their rights and privileges for now and in the future.

“It is the key to unlocking access to basic services such as education and healthcare, which are crucial for a child’s development and future.

“Accurate birth registration is vital for national planning and development, as it provides the government with essential data to plan.

“By registering a child’s birth, families ensure that their children are recognised by the state, which is the first step in protecting them from abuse, exploitation, and statelessness,” he said.

The state director urged parents and guardians to visit the nearest NPC registration centres to register their children.

On his part, the State Director of NPC in Gombe State, Mr. Jude Maigari, said success in birth registration remained a collective efforts of all stakeholders, hence called for all shareholders’ support in this regard.

Maigari said the process was simple and free, requiring only supporting documents such as an immunisation card or an existing birth certificate of a parent or guardian.
He said during registration, every child aged 0-5 years would receive a NIN upon face capturing and birth registration.

He appealed to all traditional, religious and community leaders to drive the exercise in their communities, noting that the civic exercise would impact positively on the wellbeing of their people going forward.

On his part, Alhaji Usman Shettima, district head of Nasarawo and overseeing district head of Gombe pledged to support the drive for the benefits of the people.

Shettima appealed to leaders at the grassroots to ensure that their communities participate in the process.

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