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CBN Debunks Rumors: “Old Naira Notes to Stay in Circulation Indefinitely”

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The Central Bank of Nigeria (CBN) has recently noticed discussions circulating in public spaces and media.

The claim is that the old series of Naira banknotes, specifically the N200, N500, and N1,000 notes, will no longer be considered legal tender by December 31, 2024.

However, the CBN firmly denies these claims, clarifying that they are incorrect and appear to be aimed at creating unnecessary confusion in the nation’s financial system.

To clarify, the Supreme Court of Nigeria, in its ruling on Wednesday, November 29, 2023, accepted the Attorney-General of the Federation and Minister of Justice’s plea to extend the validity of the old Naira notes indefinitely.

This decision reinforces the continued use of the older series of banknotes, which remain fully valid for transactions.

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Furthermore, the CBN has instructed all its branches nationwide to continue issuing and accepting all denominations of Naira banknotes.

This directive applies to every deposit money bank (DMB) operating in Nigeria, ensuring that the older notes remain in full circulation alongside the redesigned ones.

Consequently, all CBN-issued notes, including the N200, N500, and N1,000 denominations in both old and redesigned forms, remain legal tender indefinitely.

“We encourage Nigerians to disregard claims that suggest the old banknotes will lose their status as legal tender by any particular date.

The public should feel confident in using all Naira banknotes for everyday transactions.

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It’s also essential that everyone treats these banknotes with care to maintain their longevity and quality.” CBN releases.

“In addition to this, we urge Nigerians to consider adopting alternative, more modern methods of payment, such as electronic channels, to help ease the demand for physical cash transactions.”

Embracing these digital payment systems can offer greater convenience and reduce the need for handling physical money.

In short, Nigerians are encouraged to continue using and accepting all forms of Naira banknotes without concern for any impending deadline.

“CBN remains committed to ensuring the stability of the country’s payment system and facilitating smooth transactions across Nigeria.”

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“I Almost Gave Up on Running for President” – President Tinubu Shares

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President Bola Tinubu has revealed that he almost stepped away from the presidential race but was convinced to stay by Aminu Masari and a few others.

Speaking at a special Iftar at the Presidential Villa in Abuja, Tinubu shared how a late-night conversation with a relative made him question his decision to run. His spokesman, Bayo Onanuga, released a statement detailing the moment.

Recalling the incident, Tinubu said a family member visited him around 3:30 a.m., asking for N50,000 to buy food. The relative blamed him for the currency crisis at the time, saying people were struggling to get cash, even a wealthy uncle of theirs couldn’t find N10,000. The man then questioned why Tinubu was still in the race, hinting that he had no chance of winning.

Despite the doubt, Tinubu handed over the money and confidently told him he would succeed. However, the encounter made him briefly consider quitting. He credited Aminu Masari and others for pushing him forward, with Masari reminding him of the support he had and urging him not to look back.

Tinubu acknowledged the tough economic challenges he faced upon taking office and the difficult decisions he had to make, including the removal of fuel subsidies. He revealed that the subsidy removal wasn’t part of his original inauguration speech but was a decision he had to make immediately.

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Senator Oluremi Tinubu Writes Heartfelt Message to President Tinubu on 73rd Birthday

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Nigeria’s First Lady, Senator Oluremi Tinubu, celebrates her husband and president of Nigeria, Booa Ahmed Tinubu.

The First Lady writes down a heartfelt message and expresses gratitude as she celebrates Tinubu’s 73rd birthday.

She praises his leadership and the works he has done, she highlights what he has established as the President of Nigeria.

I rejoice and thank God Almighty for His faithfulness in your life, over the years. I celebrate your courage, strength, and resilience that have all contributed to who we both are today. May you live long, in divine health, joy, peace, and prosperity. Happy Birthday, Mr. President… My Knight in Shining Armor.”


 

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Atiku’s Aide Rejects Claims of Receiving Money from Lagos State

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Paul Ibe, the media aide to former Vice President Atiku Abubakar, has denied reports claiming that Governor Babajide Sanwo-Olu of Lagos State, through Ms. Aisha Achimugu, provided Atiku with funds allegedly belonging to Lagos State.i

Ibe described the accusation as completely false and a politically motivated attempt to damage Atiku’s reputation while serving the interests of President Bola Tinubu.

According to Ibe, the real aim behind the allegation is to tarnish Sanwo-Olu’s image and undermine the coalition that opposition leaders, including Atiku, are working to build.

In a statement shared on his X handle on Thursday, Ibe warned that the smear campaign against Atiku must stop immediately.

He stated, “We at the Atiku Media Office have seen reports suggesting that Governor Sanwo-Olu, through Ms. Aisha Achimugu, gave Atiku funds allegedly tied to Lagos State. It’s also being reported that the Economic and Financial Crimes Commission (EFCC) is investigating the matter.

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“Let it be clear — this is a baseless and politically driven lie designed to serve Tinubu’s interests. Their plan is simple: take down Sanwo-Olu and weaken the opposition coalition led by Atiku.

“This politically motivated attack on Atiku’s integrity needs to stop immediately.”


 

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