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CBN Destroys Over 6 Trillion Bank Notes Under Buhari

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The Central Bank of Nigeria is expected to have destroyed over N6tn worth of mutilated and old banknotes when the regime of the President Muhammadu Buhari expires in May 2023, an analysis by The PUNCH has shown.

Already, data obtained from the annual reports of the currency operations department of the CBN between 2016 and 2020 showed that the apex bank destroyed mutilated banknotes worth N4.1tn during the five-year period. Our correspondent could not readily obtain data on the amount of mutilated banknotes disposed off by the central bank in 2021 and 2022 as of press time on Sunday.

However, the central bank is expected to destroy over 80 per cent of the N3.23tn banknotes currently in circulation as a result of its decision to redesign N100, N200, N500, and N1, 000 bills.

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The move will bring the total amount of naira notes destroyed by the current administration to at least N6tn.

The CBN Governor, Godwin Emefiele, announced on Wednesday that the bank would release re-designed naira notes by December 15, 2022.

Emefiele made this announcement during a special press briefing in Abuja  where he gave reasons for the move.

According to the CBN governor, the move is aimed at controlling currency-in-circulation as well as curbing counterfeit currency and ransom payments to kidnappers and terrorists.

Meanwhile, a breakdown of the CBN data for the 2016-2020 period showed that in 2016, the apex bank destroyed the sum of N829.94bn in mutilated notes. In 2017, the sum of N977.23bn in mutilated banknotes was again destroyed by the CBN. The years 2018, 2019 and 2020 saw the destruction of N814.59bn, N814.44bn and N698.59bn banknotes, respectively.

 

 

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Hajiya Umma El-Rufai, Mother of Former Kaduna Governor, Passes Away

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By Yusuf Danjuma Yunusa

Hajiya Umma El-Rufai, the mother of former Kaduna State governor, Mallam Nasir El-Rufai, has died.

According to family sources, she passed away on Friday afternoon. While details surrounding her death remain unclear at this time, the family has since confirmed the sad event.

The announcement was made public by her grandson, Bello El-Rufai, in a statement shared on Facebook. The statement read:

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“Inna lillahi wa inna ilayhi raji’un. From Allah SWT we came and to Him we shall all return.

I would like to inform the public of the demise of my grandmother, Hajiya Umma El-Rufai, who passed away a few hours ago.

She is the biological mother of our father, Mallam Nasir El-Rufai. We are grateful for the life she lived and pray that Allah SWT bless her gentle soul.

May He bless the souls of the parents we have lost. On behalf of our family, we seek your prayers. Thank you.”

The family is expected to release further details regarding funeral arrangements in due course.

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ASUU Threatens Nationwide Shutdown

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By Yusuf Danjuma Yunusa

The Academic Staff Union of Universities has warned the Federal Government of Nigeria to immediately implement the newly approved salary structure for university lecturers or face a possible nationwide shutdown of public universities.

The union issued a four-day ultimatum on Thursday, with its president, Christopher Piwuna, saying failure to act within the deadline would trigger a strong response.

Speaking at Sa’adu Zungur University in Bauchi State, Piwuna said the government must begin payment under the new salary arrangement without further delay.

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“We have issued a four-day ultimatum from today to the federal government to commence payment of the newly approved salary structure. Failure to comply will attract a strong response from the union,” he said.

The warning comes months after ASUU and the federal government signed a renegotiated agreement in January, aimed at resolving long-standing disputes and preventing the recurring strikes that have plagued Nigeria’s university system.

At the heart of the agreement is a revised salary structure designed to improve lecturers’ welfare and finally address issues stemming from the controversial 2009 FG-ASUU pact, which remained largely unimplemented for years.

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APC Convention:FG Orders Remote Work for Offices Near Eagles Square

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By Yusuf Danjuma Yunusa

The Federal Government has directed all civil servants working in offices around Eagle Square and the Federal Secretariat complex in Abuja to work from home this weekend.

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The directive, issued in a circular by the Office of the Head of the Civil Service of the Federation, is aimed at easing congestion ahead of the All Progressives Congress (APC) national convention. The event is scheduled to hold on March 27 and 28 at Eagle Square.

The measure is intended to ensure smooth access and security around the convention venue.

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