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Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, has finally obeyed Supreme Court's verdict on naira redesign policy. The apex bank has officially declared the old N200, N500 and N1000 notes remain legal tender till 31 December, 2023. Isa Abdulmumin, the spokesperson of the apex bank, announced the change of stance by CBN in a statement on Monday. The u-turn by the apex bank followed about two months of harrowing pains and agonies Nigerians were made to go through following the naira redesign policy introduced by the CBN. Abdulmumin, in a two-paragraph statement, stated that the decision to recognise the affected old naira denominations was in compliance with the judgment of the Supreme Court, asking the CBN to retain the old notes as legal tender till the end of the year. He consequently directed Deposit Money Banks (the commercial banks) across the country to comply with the apex court ruling of 3 March, 2023. The CBN, however, further stated that the old N200, N500 an

Alhaji Idris Yahaya, the Auditor General for Local Government, Yobe State, is to spend five years in prison, following his conviction today, Monday, March 13, 2023, by Justice Muhammad Lawu Lawan of the Yobe State High Court. He was convicted after being pronounced guilty of a one count of criminal misappropriation to the tune of Nineteen Million, Nine Hundred Thousand Naira (N19, 900,000.00) preferred against them by the Maiduguri Zonal Command of the Economic and Financial Crimes Commission, EFCC. Yahaya received funds from the Office of the Auditor General for Local Government and Emirate Affairs, Yobe State, for the purchase of an official vehicle, a 2015 Toyota Corolla, and diverted part of the money to his personal use. The  one count charge reads: ''That you, Yahaya Lawal Idris, being the Auditor General for Local Government, Yobe State, between the 20th to 21st day of May, 2017 at Damaturu, Yobe State within the jurisdiction of this Honourable Court, received the sum of

The Governor of Anambra State, Prof Charles Soludo confirmed on Monday that the Central Bank of Nigeria has asked commercial banks to dispense and accept old naira notes as deposits. Soludo, a former CBN governor, made this known in a statement he posted on his social media handles. He explained that the Governor of CBN, Godwin Emefiele gave the directive at a Banker’s Committee meeting on Sunday. He added that Emefiele personally confirmed the directive to him. According to him, residents should report banks refusing to accept the old notes. “Commercial banks have been directed by the Central Bank to dispense old currency notes and also to receive the same deposits from customers. Tellers at commercial banks are to generate the codes for deposits, and there is no limit to the number of times an individual or company can make deposits. “The Governor of the CBN gave the directive at a Bankers’ Committee meeting held on Sunday, 12th March 2023. The Governor, Dr Godwin Emefiele, personall