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Old ₦200, ₦500, ₦1,000 notes valid beyond December – CBN
The CBN said the rumoured expiration of the old ₦200, ₦500, and ₦1,000 notes is calculated to disrupt the nation’s payment system.
The Central Bank of Nigeria (CBN) has once again debunked the speculations that the old ₦200, ₦500, and ₦1,000 banknotes would cease to be legal tender by December 31, 2024.
The apex bank made the clarification in a statement by its acting Director of Corporate Communications, Sidi Hakamaon, on the night of Thursday, October 24, 2024.
The reaction followed renewed rumours making the rounds, claiming that the three series of naira would be withdrawn from circulation by December.
The CBN described such reports as a calculated falsehood intended to disrupt the nation’s payment system, insisting that the old notes would remain valid indefinitely.
“The attention of the Central Bank of Nigeria has been drawn to discussions at different fora suggesting that the old series of the ₦200, ₦500, and ₦1,000 banknotes shall cease to be legal tender on December 31, 2024. We wish to state categorically that such claims are false and calculated to disrupt the country’s payment system.
“For the avoidance of doubt, the order of the Supreme Court of Nigeria on Wednesday, November 29, 2023, granting the prayer of the Attorney-General of the Federation and Minister of Justice to extend the use of old Naira banknotes ad infinitum, subsists,” the statement partly read.
CBN governor, Olayemi Cardoso.
CBN reassures Nigerians about old naira notes’ validity
The apex bank reaffirmed its commitment to ensuring that all Nigerian banknotes, including both the old and redesigned series, remain in circulation.
“Similarly, the CBN’s directive to all its branches to continue to issue and accept all denominations of Nigerian banknotes, old and re-designed, to and from deposit money banks remains in force,” the CBN statement noted.
It also reminded the public of the validity of a Supreme Court order, ordering the continued use of old naira notes simultaneously with the redesigned versions.
“Accordingly, all banknotes issued by the Central Bank of Nigeria will continue to remain legal tender indefinitely,” the statement added.
The CBN further urged Nigerians to take any suggestions that the old series of banknotes will lose their validity by the end of 2024 with a pinch of salt.
It also enjoined the citizens to continue using both the old and redesigned naira notes for transactions and advised them to handle the notes with care to preserve their quality and lifespan.
However, the apex bank encouraged the public to embrace alternative payment channels to ease demand for physical cash.
The development followed the House of Representatives resolution on Thursday, asking the CBN to begin the gradual withdrawal of old naira notes and ensure the availability of new notes in the ₦200, ₦500, and ₦1,000 denominations in circulation.
#notes #valid #December #CBN
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Harvesters Pastor Bolaji Idowu – Harvesters Pastor Bolaji Idowu…
Harvesters Pastor Bolaji Idowu – Pastor Bolaji Idowu, the…
Pastor Bolaji Idowu, the Lead Pastor of Harvesters International Christian Centre (HICC), is currently in police custody over allegations of real estate fraud and money laundering.
Operatives of the Force Criminal Investigation Department (FCID) detained him in Abuja, where he is reportedly being interrogated.
A top police source confirmed the arrest, stating, “Pastor Bolaji Idowu, popularly known as the ‘Next-Level Prayer Conference’ pastor, is under investigation for alleged fraudulent real estate activities and money laundering.”
Another source added, “He is at the FCID Abuja as we speak.”
Pastor Idowu founded the church in December 2003. Over the years, HICC has grown significantly, establishing branches across Nigeria, the United Kingdom, and the United States.
The church’s website boasts of attracting over 70,000 worshippers both online and onsite. Known for his “Next Level Prayers” platform, Pastor Idowu encourages participants worldwide to deepen their prayer lives.
The allegations, however, have cast a shadow over his ministry’s reputation. As the investigation unfolds, the case has sparked widespread curiosity and concern among the church’s large congregation and the general public.
The police have yet to release an official statement, and Pastor Idowu’s representatives remain silent on the matter.
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Okpebholo orders Edo LG – Okpebholo orders Edo LG…
Okpebholo orders Edo LG – Gov. Monday Okpebholo of…
Gov. Monday Okpebholo of Edo on Tuesday directed the 18 local government chairmen in the state to submit their statements of account from September 2023 to date within 48 hours.
A statement by Fred Itua, the Chief Press Secretary to the governor, instructed that the documents should be submitted to the Assets Verification Committee through the Secretary to the State Government (SSG).
At a meeting with the chairmen, the governor emphasised the administration’s commitment to transparency and accountability.
Okpebholo, represented by the Deputy Governor, Dennis Idahosa, assured the council chairmen of collaborative governance for the betterment of the state.
The governor reiterated that the directive would enhance the committee’s ability to verify assets efficiently. According to the governor, I have listened keenly to the ALGON Chairman, I’m a leader of all and we are one family.
The governor urged the chairmen to comply with the directive promptly to support the committee’s work.
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LASEMA rescues 4 victims – LASEMA rescues 4 victims…
LASEMA rescues 4 victims – The Lagos State Emergency…
The Lagos State Emergency Management Agency (LASEMA), said it rescued four accident victims on Monday evening.
The agency’s Permanent Secretary, Dr Olufemi Oke-Osanyintolu, said this in a statement on Tuesday in Lagos. Oke-Osanyintolu said the victims were severely injured in the accident involving two buses.
He said that the incident happened in the late hours of Monday, on Third Mainland Bridge, inward Owroronshoki.
“Following distress calls received through the 767 and 112 toll-free emergency lines at 17.25hrs, LASEMA activated its emergency response team from the Command and Control Centre, Alausa, Ikeja.
“On arrival to the incident scene at 17.35hrs, we discovered that a white Toyota coaster bus, Registration Number KJA-380-XV collided with a parked Lagos State BRT, Registration Number AGL938-YD.
“This happened while the coaster bus was on motion resulting in significant damage and injuries.
“The accidented Toyota Coaster bus blindsided a parked BRT in an attempt to overtake a car while headed inward Iyana Oworo,” he said.
He said four people were severely injured including the driver, adding that no fatalities were recorded in the incident.
“The recovery operation was coordinated by the agency and we extricated the trapped passengers.
“The injured victims were administered pre-hospital care treatment by the agency’s paramedics before being evacuated to nearby government-owned hospitals.
“The white coaster bus was subsequently towed to Iyana-Oworo and handed over to the Police. Recovery operation concluded,” he stated.
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