National

Despite the Supreme Court’s order, CBN declares N200, N500, N1000 Naira notes illegal tender

Published

2 years ago

February 14, 2023

Despite Supreme court’s intervention to restrain the Central Bank of Nigeria (CBN) from implementing its 10th of February, 2023 deadline to phase out the old Naira Notes of N200, N500 and N1000 the Apex bank has declared that they ceased to be legal tender in Nigeria as declared.

The declaration was made by the Branch Controller of the Central Bank of Nigeria (CBN), Bauchi, Haladu Idris Andaza while briefing Journalists on Monday at the CBN, branch in Bauchi.Recall that Governors Nasir El-Rufai (Kaduna), Yahaya Bello (Kogi) and Bello Matawalle (Zamfara) dragged the Federal government before the Supreme Court.

The states sought for a declaration that the Demonetization Policy of the Federation being currently carried out by the CBN under the directive of President Muhammadu Buhari is not in compliance with the extant provisions of the Constitution of the Federal Republic of Nigeria 1999 (as amended), Central Bank of Nigeria Act, 2007 and actual laws on the subject.

They also asked the court to make a declaration that the three-month notice given by the FGN and the CBN under the directive of the President of the Federal Republic of Nigeria, the expiration of which will render the old bank notes inadmissible as legal tender, is in gross violation of the provisions of Section 20(3) of the Central Bank of Nigeria Act 2007 which specifies that reasonable notice must be given before such a policy and that the limit cannot be outside that provided under Section Section 22(1) of the CBN Act 2007.

Continuing, Andaza indicated that “In the last 24 hours, we have been inundated by questions from various angles of the general public about our operational guidelines on the old currency notes, be that as it may, there are so many questions here and there which people have been asking about.”

According to him, “So for the avoidance of doubt, we wish to state categorically that CBN is ready and is opened to receive all of those old notes based on certain conditions and criteria.”

“Customers are free to come to the Bank and deposit which they cannot do at the Commercial Banks anymore because the currency has ceased to be a legal tender since the 10th of this month.

“Consequently, the management of the CBN decided that those customers will have a sigh of relief by coming to the offices of the CBN in all the 36 states in the Federation including FCT to deposit their money.

“The customer has to go to the CBN portal and fill a form in the portal, there will be a form there concerning this currency redesign and exchange.”

Andaza further explained that “After filling the form, you generate a code, you either print it or come with it in your mobile phone, give us the code and the information contained therein. In the form, you are expected to provide all the basic information about yourself, your account details and the amount you want to deposit.

“By the time you have done it correctly, you come to the CBN where the code will be accepted from you as well as the money, process and confirm the genuineness or otherwise of the money to avoid receiving fake notes because there are some fake notes in circulation now.”

He warned that “If anyone wants to try us by bringing in fake notes, he should be ready to be arrested, so don’t go and print old fake naira notes and bring them to the CBN, whatever happens to you, don’t blame us, you caused it.”

He however assured that “We will receive the money from you and do our internal checks before we give you an acknowledgement which is evidence to show that we have collected that amount from you and we go ahead with our internal processes, after finishing with the internal processes, we now hit your account and credit it through your Commercial bank.

“All the Commercial banks are expected to bring all old notes deposited to us and we will collect, that is the final. Some of the Banks have started depositing with us because they want to close their books, as soon as they do that, they will not collect from customers again, that is the reason CBN decided to open this portal for the general public especially the vulnerable who are still having problems of cash used for trading and now that the deadline has expired, they need to deposit their money.

“The CBN is trying to minimize risk involved in losing that money, we are trying to minimize hardship also, we know that people are having some hardship, people are suffering, we not unmindful of that fact, that why the management of the CBN has magnanimously decided to open that portal to assist those who were unable to deposit the money into their bank accounts, that is our process flow in a nutshell.

“The portal will be there, opened for some time, depending on the circumstances and the directives from the management, we expect that within this period, people should have been able to deposit all they have, it is a privilege given to Nigerians to ensure that they deposited that money even though they are no longer legal tender.

“For the people in the remote areas, if you can recollect, we have gone round virtually all the villages in Bauchi state with some commercial banks asking the people to open accounts which many of them did and were able to deposit their money, I doubt if there are still people who have not keyed into the system now who are still having old money.

“We used the media, NOA and Traditional rulers just to let the people know, no limit to the amount that can be deposited provided the form was properly filled.

“There are a lot of firewalls that can protect the people accessing the portal, no any cause for alarm.”

In his remarks, CBN Team Lead, Bauchi who is the Director, Medical Services of the Apex Bank, Dr Abdulkadir Jibril explained that “It is a point we have made before, I just want to emphasize it, not everybody in Bauchi state is privileged to be at this meeting and so, there is the moral and professional responsibility on their shoulders to ensure that this information gets to every nook and cranny of the state and even beyond.”

He emphasized that “There is a limited time that has been given by the government and the law, just as I have emphasized earlier on, it is the magnanimity of the government, so, this is just an additional time and opportunity to assist people to get their monies into their bank accounts safely so that nobody misses a dime or loses any money.”

Jibrin concluded saying, “I am appealing to our people both men and women to carry or propagate this message everywhere so that people can do the needful.”

National

Young Nigerians should Join ‘Voices of Our Heritage’ Writing Contest, Musawa

Published

4 days ago

February 18, 2025

National Update

Barrister Hannatu Musa Musawa

Young Nigerian writers have been urged to participate in the “Voices of Our Heritage” national writing competition, an initiative aimed at fostering creativity and cultural appreciation.
The Minister of Art, Culture, Tourism, and the Creative Economy, Barrister Hannatu Musa Musawa, who made the call said the competition is open to students aged 10-18, adding that it is seeking to discover and nurture emerging literary talents.
The special adviser to the minister on Media quoted her to have indicated that the initiative is targedted at empowering young writers to create, publish, and even earn from their digital books, promoting both entrepreneurship and job opportunities.

“This competition is about preserving our cultural heritage while shaping the future of our nation,” she stated.

Organized as part of the 2024-25 National Young Authors Fair (NYAF), the competition welcomes entries from primary, secondary, and university students. Registration closes on February 20, 2025, with submissions open until March 20, 2025.
Winners will be announced on April 10, 2025, with the top 10 receiving ₦250,000 each, along with book publication, national recognition, and distribution.

The competition aligns with the Ministry’s vision to promote cultural heritage, creativity, and education through strategic partnerships.

For registration, visit: https://www.yaf.bribooks.com/ng/2024/student.

National

Okebukola Hails Nigeria’s Milestone in Global AI Revolution

Published

6 days ago

February 17, 2025

National Update

Peter Okebukola

***As 306 Stakeholders Participate in Inaugural AI Awareness Day

Nigeria has taken a bold step in the global Artificial Intelligence (AI) revolution as key stakeholders gathered to explore the nation’s role in AI-driven education and policy development.

The National Coordinator of the 2025 AI Awareness Day, Professor Emeritus Peter Okebukola, described the event as a major milestone, highlighting Nigeria’s potential to emerge as a leader in AI research, education, and application.

Held virtually on February 17, 2025, the inaugural AI Awareness Day in Higher Education was co-hosted by the Virtual Institute for Capacity Building in Higher Education (VICBHE), National Universities Commission (NUC), National Open University of Nigeria (NOUN), Tertiary Education Trust Fund (TETFund), Okebukola Science Foundation (OSF), and the Association of African Universities (AAU).

The event brought together 306 participants, including heads of regulatory agencies (NUC, NBTE, and NCCE), scholars from universities, polytechnics, and colleges of education, policymakers, educators, and AI practitioners.
Discussions focused on AI’s transformative role in higher education, best practices, and ethical AI deployment in Nigeria.

The event, chaired by Professor Yakubu Ochefu, former Secretary-General of the Committee of Vice-Chancellors of Nigerian Universities, centered on raising awareness about AI’s role in higher education transformation, assessing Nigeria’s progress in AI education and its contribution to global AI research and celebrating achievements in AI research and education within Nigerian institutions.
Other areas of focus included exploring the integration of AI into university curricula, research, and administration and discussing AI-driven innovations to address national educational challenges.
The event featured a symposium, the launch of the AI in Higher Education in Africa Newsletter, and the presentation of the three-volume Handbook on AI and Quality Higher Education.
One of the highlights of the event was the presentation of awards to recognise outstanding contributions in AI research, education, and policy within the Nigerian higher education system.

The first position in the Best Institutional AI Policy in Higher Education Award in the universities category was won by Obafemi Awolowo University, Ile Ife. Second and third positions were won by Lagos State University, Ojo and Federal University of Technology, Minna respectively.

In the polytechnics category, the first prize went to Living Spring College of Technology and Innovation, Osogbo. For the Best AI Researcher in the universities category, Prof. Olatunji Sunday Olusanya of Adekunle Ajasin University came first. Dr. Salau Ayodeji of Afe Babalola University, Ado-Ekiti and Dr. Awotunde Joseph Bamidele of the University of Ilorin came second and third respectively.

For the polytechnics category, Mr. Mohammed Modiu of Yaba college of Technology came first. Mr. Salami Ayo of Federal College of Education, Iwo came first in the colleges of education category.

Other awards include the Best Programme in Artificial Intelligence. For the universities category, the B.Sc. Computer Science of Thomas Adewumi University came first. Programmes of four universities tied in the second position. These are B.Sc. Management Information Systems of Covenant University, Ota; B.Sc. Industrial Mathematics (Computer Option) also of Covenant University, Ota; and B.Sc. Computer Science of the University of Benin.

The first position in the universities category for the Best AI Application for Enhancing Teaching and Learning went to Prof. Onyenwe Ikechukwu Ekene of Nnamdi Azikiwe University, Awka. Five scholars tied in the second position. These are Dr. Oguntosin Victoria of Covenant University; Dr. Oluwakemi Olurinola of Olabisi Onabanjo University; Professor Busari Mutiu of Federal University of Agriculture Abeokuta and Professor Ibezim Nnenna of University of Nigeria, Nsukka. In the polytechnic category, first prize went to Dr. Okikiola Folasade of Yaba College of Technology.
For the colleges of education category, first prize was earned by Dr. Usman Stephen of Ipere College of Education Agyaragu, Nasarawa State, while Mr. Bako Mahmud Malam of Adamu Tafawa Balewa College of Education Kangere Bauchi State came second.
Other awards were presented for Best AI Programme and Best AI Application for Teaching and Learning across universities, polytechnics, and colleges of education.
Key resolutions include expanding the AI Awareness Day to all levels of the educational system; development of a strategic plan to ensure that Nigeria plays a leadership role in the global development of AI; strengthening the implementation of the AU strategic plan on AI; and forging strong public-private partnerships, investing boldly in our people and infrastructure.

Others are that the Federal Ministry of Communications, Innovation and Digital Economy, NITDA, other agencies of government and other stakeholders should involve the National Association of Artificial Intelligence Practitioners (NAAIP) in policy making, implementation and other matters of Artificial Intelligence; and that within the 30% institutional allowance in the CCMAS, Nigerian universities should be encouraged to start GST courses on Artificial Intelligence (AI) and Machine Learning (ML) in place of or in addition to the existing computer appreciation courses.
The successful launch of the AI Awareness Day marks a turning point in Nigeria’s AI journey, reinforcing the country’s commitment to leveraging AI for educational excellence, innovation, and national development.

National

Diplomatic Fallout: Ribadu’s Outburst Sparks Criticism Over Nigeria’s Foreign Policy Approach

Published

1 week ago

February 14, 2025

National Update

Sule Lamido

A fresh controversy has emerged over Nigeria’s handling of diplomatic affairs, as former Jigawa State Governor, Sule Lamido, takes aim at National Security Adviser (NSA) Nuhu Ribadu for his public condemnation of Canada’s visa denials to Nigerian military personnel.

Lamido, a seasoned politician and former foreign minister, expressed frustration over what he described as a pattern of missteps in Nigeria’s foreign policy under the current administration. He argued that the NSA’s public outburst against Canada was both unnecessary and damaging to the country’s international reputation.

“This is yet another example of our rookie approach to foreign relations,” Lamido stated. “Rather than resorting to public accusations, the appropriate response would have been for the Ministry of Foreign Affairs to summon the Canadian High Commissioner and address the issue through official diplomatic channels.”

The ex-governor warned that Ribadu’s actions had not only failed to resolve the issue but had also drawn unnecessary public attention to an embarrassing situation. “Our foreign relations must be handled with tact and professionalism. The NSA should not be taking over the responsibilities of the Minister of Foreign Affairs,” he said.

This latest episode comes amid broader concerns over Nigeria’s international standing, following strained relations within ECOWAS and a series of diplomatic missteps on the global stage. Analysts now worry that such uncoordinated responses could weaken Nigeria’s position in international affairs.

With Nigeria’s diplomatic credibility on the line, calls are growing for a more disciplined and strategic approach to engaging with foreign nations—one that prioritizes diplomacy over public confrontations.