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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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“China Is Not Afraid of Trade War With the US” – Xi Jinping Says to Trump

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Xi Jinping, China’s leader, has firmly stated that his country is “not afraid,” addressing the ongoing trade war with the United States for the first time publicly.

Speaking with Spanish Prime Minister Pedro Sanchez in Beijing on Friday, Xi made it clear that China would not be intimidated by external pressures, as reported by state broadcaster CCTV.

The trade war, which began under President Donald Trump, has rattled global markets and raised concerns about a potential worldwide recession.

Xi emphasized, “There are no winners in a trade war. Pursuing conflict with the world will only lead to isolation.”

He added, “For over seven decades, China’s progress has been driven by hard work and self-reliance, not by handouts from others. We are not afraid of any unfair suppression.”

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“China will stay confident, focused, and committed to managing its own affairs, no matter how the external situation evolves.”

These comments followed the announcement from The White House that the Trump administration has raised tariffs on Chinese goods to 145 percent, with the new rates taking effect immediately.


 

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US President Trump Expresses Gratitude to Cabinet, Pledges Support for DOGE

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United Stated President, Donald Trump reveals his intention of keeping Department of Government Efficiency, DOGE, services.

The president revealed his intention during a recent meeting at the White House with his cabinet. Donald trump expressed gratitude and desire to keep working with the team during the meeting.

“Your people are fantastic, hopefully, they’ll stay around for the long haul. We’ll like to keep as many as we can. They ‘re great, smart, sharp, finding things that nobody thought of, and very computer savvy.”


 

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Peter Obi Calls for Release of 15-Year-Old Yusuf Alabi After His Unlawful Detention

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There is growing outrage over the case of 15-year-old Yusuf Alabi, a supporter of Labour Party’s 2023 presidential candidate, Peter Obi, who has been held at the Kirikiri Correctional Centre since January this year.

Alabi gained national attention in 2023 after a viral photo showed him standing in front of Obi’s convoy during a rally in Lagos. The image became a symbol of hope for Nigerian youth, with many supporters rallying behind him.

Peter Obi, shocked by the boy’s detention, expressed his concern on social media, urging authorities to respect the rule of law. He also revealed that he had contacted lawyer Inibehe Effiong, who has been working hard to secure Alabi’s release.

Obi called on the police and government officials to operate within the law, warning against using citizens, particularly the youth, as political tools.

Effiong visited the facility where Alabi is being held and shared his findings on Facebook. After interviewing Alabi, the lawyer explained that the boy was abducted by local “area boys” in January while returning from work.

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The area boys had been threatening him for not sharing the money he received after the viral photo with Obi. Effiong revealed that after the abduction, Alabi was taken to Amukoko Police Station, where he was falsely charged with armed robbery alongside four strangers.

Effiong found the charges suspicious, noting that Alabi had been wrongly accused of robbing two victims of N579,000 in cash and phones. After his investigation, Effiong concluded that Alabi is another victim of Nigeria’s flawed criminal justice system.

Activist lawyer Deji Adeyanju also reacted, mentioning how such injustices are part of the daily struggles faced by the country’s poor and helpless citizens.


 

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