Connect with us






The Central Bank of Nigeria, CBN, insisted yesterday that only the old N200 notes were re-issued as directed by President Muhammadu Buhari.

The clarification came against the backdrop of reports that President Muhamnmadu Buhari had issued an order directing the CBN to also re-issue the N500 and N1,000 notes.

The apex bank also refuted reports that it directed Deposit Money Banks, DMBs, to receive the old N500 and N1,000 notes from their customers.

The clarifications came as Kaduna State governor, Nasir el-Rufai, said President Muhammadu Buhari made a mistake concerning the naira redesign policy which phased out the old N500 and N1,000 notes.

In a statement jointly signed by the Deputy Governor, Mr Edward Adamu, and Mr Osita Nwanisobi, the apex bank said it is sticking to the directive of the President to reissue only the old N200 notes.

It read:   “The attention of the Central Bank of Nigeria has been drawn to a fake press release purported to have emanated from. the bank to the effect that President Muhammadu Buhari has approved the re-issuance and release of old N500 and N1,000 notes as legal tender in the country.

“For the avoidance of doubt,   the CBN reiterates that in line with the directive of Mr President, only N200 old notes are to be re-issued and to re-circulate concurrently with the new notes.

“Members of the public are, therefore, advised to ignore this fake news.

“The bank is working with the law enforcement agencies to investigate, apprehend and prosecute the purveyors of this fake news.”

CBN again denies directing banks to receive old N500, N1,000 notes

Similarly, the Central Bank of Nigeria, CBN, yesterday refuted reports that it directed Deposit Money Banks, DMBs, to receive old N500 and N1,000 notes from their customers.

According to the Director, of Corporate Communications, Mr Osita Nwanisobi, in a statement, in Abuja, yesterday, media reports that the apex bank has given such a directive are fake.

He clarified that only old N200 notes had been directed by President Muhammadu Buhari to be re-issued and that the CBN would stick to that directive.

The statement read:   “The attention of the Central Bank of Nigeria has been drawn to some fake and unauthorised messages quoting the CBN as having authorised the Deposit Money Banks to collect the old N500 and N1,000 banknotes.

“For the avoidance of doubt and in line with Mr President’s broadcast of February 16, 2023, the CBN has been directed to only re-issue and recirculates the old N200 and this is expected to circulate as legal tender for 60 days up to April 10, 2023.

“Members of the public should, therefore, disregard any message and/or information not formally released by the CBN on this subject.”

The CBN was reacting to a message purportedly issued by Mr. Nwanisobi, indicating that the CBN had directed DMBs to continue to receive old N500 and N1,000 notes until May 1.

It claimed that the directive followed a purported meeting between CBN officials and President Buhari.

That message has since been widely circulated on social media.

Buhari made mistake – Gov el-Rufai

Meanwhile, Kaduna State governor, Nasir el-Rufai, has said President Muhammadu Buhari made a mistake concerning the naira redesign policy which phased out the old N500 and N1,000 notes.

Speaking in an interview with the BBC Hausa Service on Monday, el-Rufai said the policy was introduced to make the All Progressives Congress, APC, lose in the election.

He said governors were against the policy because of the hardship it had put people into and not because of vote buying.

“We reviewed this policy and the hardship it put people into and the feeling of hatred Nigerians developed for the APC because Nigerians are putting the blame on the APC and the people who introduced the policy did it to make our party lose in the election.

“After we finished our review, we agreed that the judgement of the Supreme Court should be followed which is the old and new notes should be used until the case is over.

“Did vote-buying start today? Why was the money not redesigned before? Why now? Secondly, is vote-buying only done with naira? It can be bought using dollar, euro, CFA Franc, you can give the voters food.

“There are several ways through which you can buy votes. You cannot take money out of politics, but you can reduce it.

“We are not against this policy because of vote buying. I swear to God we are against it because of how we saw people suffering, not the elections.

“The people who pushed for the naira redesign are not members of the APC. You see Godwin Emefiele, it was the PDP that brought him. The others with who the decision was taken with them we know them and when the time comes, will expose them because they are not members of our party.

“God willing, on Saturday, the masses will retaliate against those who want to drag our party to the ground, those who the APC an opportunity to get money more than what will be sufficient for them to do the shopping because some of them we knew when shopping in their homes was difficult for them eight years ago, but now, they have money more than you could imagine. I swear to God, we will bring them out and ask them where they got their money from.

Because a president is a person who believes in people, and we (governors), our image has been tarnished. He has been told that governors are thieves, which is why we are against the naira redesign policy. “Even if we go to him and say ‘our leader you have been lied to in this place’, and he says I understand and will take an action on it, the moment we depart, he will be told not to take any action.  We believe the president made a mistake.”

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *





Says it’s a reminder of Abacha’s dictatorship

A veteran journalist and rights activist, Mr. Richard Akinnola, has raised the alarm that the incoming government of Senator Bola Ahmed Tinubu will be intolerant of the free press.
Akinnola vowed that Nigerians would resist any planned “insurrection” against the independent media the way they fought Abacha’s dictatorship against the media.

Akinnola in an open letter dated April 1, 2023, written to the Director of Media of the Presidential Campaign Council of the All Progressives Congress (APC), Mr. Bayo Onanuga, expressed dismay that the National Broadcasting Commission (NBC) slammed Channels Television with a N5 million fine, following a petition allegedly written by Onanuga over an interview by the vice presidential candidate of the Labour Party (LP), Yusuf Datti Baba-Ahmed.

NBC had last week slammed a fine of N5 million on Channels Television for allegedly breaking the broadcasting code in a programme with Baba-Ahmed.
The sanction came a few hours after Tinubu petitioned the station over its interview with the LP vice presidential candidate.
While fielding questions on a Channels Television programme, Baba-Ahmed asked the Chief Justice of Nigeria (CJN), Justice Olukayode Ariwoola, not to swear in Bola Tinubu as president.

The LP vice-presidential candidate said there is no president-elect because Tinubu did not allegedly meet the requirements of the constitution.
However, Akinnola, who in his letter reminded Onanuga of their long-time friendship, accused him of violating all the principles they both fought for under the military, particularly against the military onslaught on the free press.

He warned that Nigerians would resist any planned “insurrection” against the independent media the way they fought Abacha’s dictatorship against the media.
The letter read: “I hope you are now happy and satisfied that NBC has sanctioned Channels with a N5 million fine, following your petition over Datti Ahmed’s interview on Channels Television.

“Chief Gani Fawehinmi and Dr. Olu Onagoruwa (both of blessed memories) were the best of friends for several years but that friendship was truncated when the latter decided to join the Abacha junta as the Attorney-General, churning out despicable Decrees. Their relationship ended and Gani publicly upbraided his erstwhile friend.

“You and I have been friends for several years, fought many battles together against the military, particularly against their onslaught on the free press. I, therefore, feel pained that l have to publicly upbraid you for your recent public statements, particularly your petition against Channels Television, to NBC.
“Et tu, Bayo? I’m still trying to wrap my head around your sudden 360 degrees against all you fought for under the military. You are yet to be in government and you have started exhibiting intolerance against the independent media, the same thing you fought for all your years like Dr Onagoruwa did. I’m sure your principal, who has been a lover of a free press, would be embarrassed by your position.

“I watched the interview under reference and I must say, you are very unfair to Seun Okinbaloye, the anchor man who repeatedly cautioned Datti Ahmed for making some seemingly inciting comments, to the anger and discomfiture of Datti-Ahmed. So, in all conscience, what then is the basis of your petition to NBC? Can you compare that to your recent incendiary post against an ethnic group? Why are you making enemies for your principal, instead of friends, in a country so polarised? While your principal is preaching unity and healing, you are busy trying to make more enemies for him. Yesterday, it was ARISE NEWS Channel; today, it is Channels. Is that a foretaste of what to experience in the incoming government? So, we should be fixated on NTA and TVC? Isn’t that what you are trying to say proverbially? To say that I’m totally embarrassed by your silly conduct would be stating it mildly.

“For eight years, despite all vitriolic attacks on the president, Femi Adesina, as Special Adviser, Media to the president, did not petition against any medium but you wey never enter, don dey censor the media. What a shame! I can expect the disaster that awaits us if you become the presidential spokesperson. Do l subscribe to unfettered press freedom? No. I believe every freedom comes with responsibility. However, when you create a perception that the incoming government would be intolerant of the free press, we need to sound the alarm bell.

“My dear Bayo, it is often said that until a man tastes power or has access to money, you can’t judge his character. That may not be true because one of our mutual friends, Tunji Bello, has tasted both but has been the normal self that l have known for over three decades. His decent character has not changed, in and out of government. So, could it be that your real character is just unfolding? Just because you are now at the periphery of power, you are ready to obliterate all the values and principles you held all these years. What a shame!
“Take notice that we would fight this your planned “insurrection” against the independent media the way we, including you, fought Abacha’s dictatorship against the media.”

Continue Reading





The National Broadcasting Commission (NBC) has slammed a fine of N5 million on Channels Television for breaking the broadcasting law in a programme with Dr Datti Baba-Ahmed, Labour Party Vice Presidential candidate.

This is contained in a letter addressed to the Chief Executive Officer of the television station and dated March 27.

The letter was exclusively obtained by the News Agency of Nigeria (NAN) on Friday in Abuja.

The letter, with the title: “Broadcast of an Inciting Interview, A Sanction”, was signed by Balarabe Ilelah, the commission’s Director-General.

It read in part:” The NBC monitored the broadcast of a live interview of the running mate of the Labour Party Vice presidential candidate, Dr Datti Baba-Ahmed, by the anchor of Politics Today, Seun Okibaloye, on Wednesday, March 22.

“Dr Baba-Ahmed said it will be unconstitutional to swear in an elected president on May 29, 2023, because of election irregularities,” Ilelah said in the letter.

He noted that the broadcast was volatile and capable of inciting public disorder and therefore violated some sections of the broadcasting code.

This, according to him, includes the section that said no broadcast shall encourage, or incite, be repugnant to public feelings or contain offensive reference to any person or organisation, alive or dead or generally be disrespectful to human dignity.

Ilelah added that according to the broadcasting code, broadcasters shall ensure that no programme contained anything which amounted to subversion of constituted authority.

He recalled that the NBC had engaged Channels Television severally to consider public interest before any programme is broadcast.

This, he said, was to ensure that the country was not plunged into anarchy.

“Consequently, on the following infractions, Channels Television is hereby sanctioned and shall pay a penalty of N5,000,000 (five million naira) only in the first instance,” he said.

He added that any further infraction by the television station would attract higher sanctions.

“You are advised to pay within two weeks from the day of receipt of this letter or the penalty will be graduated,” the NBC Director-General said


Continue Reading





Labour Dead

A governorship aspirant under the platform of the Labour Party in Imo state, Chief Humphrey Anumudu, has been found dead in his house.

WITHIN NIGERIA reports that his death comes after his return from a meeting at the party’s national headquarters in Abuja on Friday.

He died in his Lagos house in what family sources described as a “spiritual attack.”

A close friend of the deceased said he died around 5:30 pm on Friday.

Neither his family, nor party has made official statement on the development.

This is a developing story…

Continue Reading


Copyright © Estreet On TV 2023