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Court Stops CBN From Enforcing February 10 Deadline for Old Naira Notes

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In a significant legal development, the Supreme Court of Nigeria has issued an interim injunction restraining the Federal Government and the Central Bank of Nigeria (CBN) from enforcing the February 10 deadline for the cessation of the old N200, N500, and N1,000 naira notes as legal tender.

This ruling comes in response to a motion filed by the governments of Kaduna, Kogi, and Zamfara states, which argued that the policy’s implementation timeframe was causing undue hardship for Nigerians.

The three states contended that the scarcity of the new naira notes had led to significant difficulties for their residents, particularly those in rural areas lacking adequate banking infrastructure.

They emphasized that many citizens had been unable to exchange their old currency due to the limited availability of the new notes, resulting in economic strain and social unrest.

In its ruling, the Supreme Court acknowledged these concerns and granted an interim order, halting the enforcement of the February 10 deadline until the substantive hearing scheduled for February 15. This decision effectively allows the old naira notes to remain in circulation alongside the new ones, providing temporary relief to Nigerians grappling with the transition.

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The CBN had previously set the February 10 deadline as part of its currency redesign policy aimed at curbing inflation and reducing the prevalence of counterfeit currency. However, the policy has faced criticism due to the challenges associated with the rapid rollout of the new notes and the limited time frame for the public to adapt.


 

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Fuel Prices in the Philippines Increases Again

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Starting April 29, 2025, fuel prices in the Philippines have gone up for the second consecutive week, affecting everyone from drivers to businesses that depend on transportation.

Effective April 29, these are the new fuel prices:

  • Gasoline: ₱1.35 more per liter
  • Diesel: ₱0.80 more per liter
  • Kerosene: ₱0.70 more per liter

These price hikes are expected to hit household budgets, particularly for those who rely on private vehicles or depend on public transport for their daily commute.

Why Are Prices Going Up?

The recent increase in fuel prices comes down to a few key factors:

1. Global Oil Price Fluctuations: The cost of crude oil in the international market plays a major role in local fuel pricing. When global prices rise, local prices tend to follow.

2. Exchange Rate Movements: The strength of the Philippine peso against the US dollar also influences fuel prices, as most of the country’s oil is imported in dollars.

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3. Supply Chain Issues: Disruptions in the supply of oil or transportation difficulties can further drive up costs.

These factors combined are making fuel more expensive for everyone, especially in recent weeks.

The rise in fuel prices will have a ripple effect on daily life:

1. Transportation Costs: With higher fuel prices, public transport operators may increase fares, impacting commuters.

2. Rising Prices for Goods: Since transportation costs are tied to the delivery of goods, this price hike may eventually lead to higher prices on groceries, retail items, and services.

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3. Impact on Households: Families who use private cars will feel the pinch as they’ll need to spend more on fuel each month.

While there’s no clear indication of when fuel prices might go down, it’s important to stay updated on changes in the global oil market and keep an eye on government measures that could affect future price adjustments.


 

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Keyamo Says 2027 Coalition Can’t Unseat Tinubu

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Festus Keyamo, the Minister of Aviation and Aerospace Development, believes it’s nearly impossible to remove President Bola Tinubu from power through a coalition in the 2027 elections. Speaking on a live TV program, he dismissed recent coalition talks by some political figures as nothing more than noise, saying they don’t pose any real threat to the ruling All Progressives Congress (APC).

According to him, those pushing the idea of a coalition are underestimating the deep-rooted structure and support base of the APC. “There’s no political tsunami on the way,” he said. “I’ve been part of presidential campaigns. I understand Nigeria’s political landscape. A coalition strong enough to unseat Tinubu just isn’t possible right now.”

His comments were in response to remarks by key opposition voices like Yusuf Datti Baba-Ahmed, Atiku Abubakar, and Nasir El-Rufai, who have been suggesting a united front against Tinubu ahead of 2027. Baba-Ahmed had criticized the current administration for poor governance and urged voters to seek change.

Rumors have also been swirling about a possible merger within the PDP, though many of the party’s governors have denied any involvement. Former Ekiti State Governor Ayo Fayose even described the whole idea as pointless and dead on arrival.

Keyamo made it clear that forming a strong political merger takes time, recalling how long it took for Tinubu and Buhari to build the APC after the 2011 elections. He said those planning a coalition now are either confused about what they want or have already missed the train.

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Okonkwo Accuses INEC of Manipulating 2023 Election Results

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Kenneth Okonkwo, a former spokesperson for the Labour Party’s presidential campaign, has accused the Independent National Electoral Commission (INEC) of manipulating the 2023 election results, claiming that the results Peter Obi received were “written” and allocated to him by the commission.

Speaking on Channels Television’s Sunday Politics, Okonkwo criticized INEC for failing to upload the polling unit results to its portals, as required by law, over two years after the election. He argued that while Obi allegedly won over a million votes in Lagos State, INEC reduced his total, and he claimed that the results from Rivers State were altered to favor the All Progressives Congress (APC).

“There’s no explanation for it until today,” he said. “The results were written and allocated to Obi. Go to Rivers State and check.”

When reminded that the Supreme Court ruling declared Bola Tinubu and the APC as the legitimate winners, Okonkwo dismissed the ruling, explaining that the court only found insufficient evidence to support claims of fraud. “The court is not telling you they didn’t write the results,” he said. “It’s telling you that there was no evidence to prove they did.”

Okonkwo also defended his party’s inability to place polling agents at every polling unit, acknowledging that the law does not expect every party to have the resources for such an extensive operation. He emphasized, however, that if INEC were truly impartial, there would be no need for agents in every unit. “INEC received 400 billion naira to organize the election in Nigeria,” he pointed out.

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