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Reps backs CBN naira redesign, faults timeline for mop up of old notes

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Group urges National Assembly against budget padding

The Senate on Wednesday promised to provide legislative support for the policy of the Central Bank of Nigeria (CBN) to redesign the naira.

The resolution of the Red Chamber followed a motion on the policy by the Chairman of Senate Committee on Banking, Insurance and other Financial Institutions, Senator Sani Uba.

While the lawmakers supported the move to redesign the naira, they however said the deadline of Tuesday, January 31 2023 to pay all cash in circulation into banks was too short.

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READ ALSO: CBN redesigns 200, 500, 1,000 naira notes

The Senate called for aggressive enlightenment on the part of the CBN, especially in the rural areas to ensure that all Nigerians are made aware of the new policy.

The lawmakers insisted that such mass awareness would help Nigerians in the rural areas to comply with the policy so as not to lose their hard-earned income.

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CBN governor Godwin Emefiele in October announced plans to redesign the 200, 500, and 1,000 naira notes.

Emefiele said that it is worrisome that 85 per cent of the currency in circulation is being hoarded by Nigerians.

He further urged Nigerians to proceed to their banks to deposit their Naira notes, adding that the deposit fee would be waived for transactions below N150,000.

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Emefiele added that the redesigning of Naira notes would help to curb counterfeit notes, as well as hamper ramson payment to terrorists and kidnappers.

The Senate on Wednesday urged the CBN to put measures in place in the face of ubiquitous Financial Technology (FinTech) to ensure that the local populace are able to bank their cash with ease within the stipulated time.

The lawmakers said such a measure would also ensure the security of the local population who might be waylaid and dispossessed of their cash by criminal elements like bandits and insurgents.

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Two days ago, the CBN said it has made provisions for Nigerians living in rural areas to exchange their naira notes as the bank moves to redesign 200, 500 and 1,000 notes.

CBN insisted that the measure will help check inflation, counterfeiting and the amount of money outside of the banking system.

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Plateau Governor Sets Up Committee to Probe Two Decades of Attacks

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Plateau State Governor, Caleb Mutfwang, has inaugurated a 10-member fact-finding committee tasked with uncovering the root causes of the persistent attacks plaguing communities across the state.

Speaking during the inauguration ceremony on Tuesday in Jos, Governor Mutfwang charged the committee with conducting a comprehensive review of violent incidents from 2001 to date. “We thought that we should set up this high-powered fact-finding committee to look at the incessant attacks on our communities,” the governor stated.

According to Mutfwang, the committee is expected to perform an in-depth assessment of the recurring security breaches, determine the number of affected communities, and assess the extent of damage done over the years. “We want to understand the root causes and propose actionable recommendations for lasting peace, justice, and stability in the affected communities,” he said.

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The committee’s mandate also includes establishing the number of casualties, identifying possible perpetrators and their motives, and uncovering potential routes used by bandits to access Plateau State. “Identify possible routes of bandits into the state and recommend measures to limit their access,” the governor added.

Chairman of the committee, retired Maj.-Gen. Rojas Nicholas, thanked the governor for the confidence reposed in the members. He pledged that the committee would approach its assignment with fairness and commitment. “We will do our best to produce a report that would befit its assignment,” Nicholas assured.

The committee is expected to submit its findings and recommendations in due course, with hopes that the report will provide a pathway to durable peace and security in the state.

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British-Nigerian Makes History as London Mayor — A Source of National Pride, Says NGIJ President

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President of the Nigerian Guild of Investigative Journalists (NGIJ), Mr. Abdulrahman Aliagan, has praised British-Nigerian Bright Opeyemi for becoming the youngest serving Mayor in the London Borough of Barking and Dagenham.

In an interview with the News Agency of Nigeria (NAN) on Monday in Abuja, Aliagan described Opeyemi’s rise as a landmark achievement in British political history and a proud milestone for Nigeria.

“The 29-year-old British-born daughter of Nigerian immigrants was officially inaugurated on May 16 as Mayor,” Aliagan noted.

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“She now holds the title of First Citizen of the London Borough of Barking and Dagenham; a borough known for its diversity, resilience, and vibrant youth population.

“Opeyemi’s ascension is not just a personal victory, but a shining example of the excellence of the Nigerian diaspora and a source of national pride.

“She grew up in a family devoted to community building and social impact,” he added.

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Aliagan highlighted that Opeyemi was elected as a councillor at just 22 and has spent the past seven years advocating for youth empowerment, social inclusion, and economic opportunity in her borough.

“Her rise to the mayoralty is the result of years of tireless service and stands as a testament to her character, competence, and credibility,” he emphasized.

He further stated that Opeyemi’s leadership represents a shared story—one rooted in resilience, achievement, and progress in multicultural societies.

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“Her victory is especially symbolic as it challenges stereotypes around youth disengagement from politics.

“She epitomises a new wave of dynamic, inclusive, and globally minded leadership,” Aliagan said.

According to him, Opeyemi’s journey reaffirms the positive impact of Nigerian values such as education, resilience, and service when integrated into international systems.

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“She proudly carries her Nigerian heritage with dignity. Her success is proof that culture and identity are assets, not obstacles, in public leadership,” he said.

Aliagan also noted that her story offers a refreshing counter-narrative to the often negative portrayal of Nigeria in global media.

“Her election should serve as a wake-up call. It reflects the untapped potential of our youth and diaspora community,” he added.

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He called on Nigerian institutions and the government to draw inspiration from Opeyemi’s accomplishment by investing in youth leadership and incorporating diaspora voices into national policymaking.

“For young Nigerians, especially women, Opeyemi is living proof that neither age, gender, nor immigrant roots are barriers to greatness,” Aliagan concluded.

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NUJ Condemns Armed Attack on Rhythm 94.7FM, Calls It an Assault on Press Freedom

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The Nigeria Union of Journalists (NUJ), Bayelsa State Council, has strongly condemned the recent armed attack on Rhythm 94.7FM, a privately owned radio station based in Yenagoa, describing the incident as a grave threat to press freedom.

In a statement issued to newsmen on Monday in Yenagoa, the NUJ Bayelsa Chairman, Comrade Tonye Yemoleigha, and Council Secretary, Comrade Stanley Imgbi, decried the assault, calling it “a rape on the entire media family in Bayelsa and on press freedom.”

According to the statement, the radio station was attacked on two separate occasions—Saturday, May 17, at about 2:10 p.m., and Sunday, May 18, at 4:40 p.m.—by unidentified gunmen who carted away valuables during the operations.

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“Some of the valuables collected include mobile phones, recorders and operational gadgets belonging to staff on duty,” Yemoleigha disclosed.

The NUJ Chairman called on security agencies, particularly the Bayelsa State Commissioner of Police, to ensure that the perpetrators of the crime are identified and brought to justice.

He also urged the police to station a patrol van near the premises of the media house, given its isolated location, similar to measures taken in other strategic points across Yenagoa.

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Yemoleigha, however, expressed relief that no lives were lost during the attacks.

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