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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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Ogan Boye Supports Awara-Selling Women with Capital, Declares Nasarawa Free from Gang Activities

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In a significant move to uplift women and boost small-scale businesses, Ambassador Yusuf Shu’aibu Imam,The chairman of Nassarawa Local Government Kano Northwest Nigeria popularly known as Ogan Boye, has provided financial assistance to 200 women in Nasarawa Local Government Area. Each beneficiary received a startup capital of 30,000 Naira to enhance their businesses and improve their livelihoods.

According to reports from the majority of these women are engaged in the trade of Awara, a popular local snack made from soysbeans. The initiative aligns with Ogan Boye’s vision to empower women and strengthen the economic stability of families within the community.

As the Vice Chairman of the Association of Local Government Chairmen in Kano Central, Ogan Boye stated that this empowerment project is part of activities marking his first 100 days in office as the Chairman of Nasarawa Local Government. He made this announcement during the reopening of the local government secretariat, which recently underwent renovation.

A Promise for More Economic Interventions

During his speech, Yusuf Imam emphasized that this financial support is just the beginning, signaling further interventions aimed at promoting economic growth. Upon assuming office, he observed various challenges plaguing the local government, including poor revenue generation, a lack of employment opportunities, and deteriorating education and healthcare services.

As part of his administration’s efforts, he disclosed that over 400 youths have been employed, with extensive renovations carried out on schools, hospitals, drainage systems, and major roads in the area.

These developments were showcased at the 100-day anniversary event, where he highlighted achievements and introduced new initiatives to be pursued moving forward.

Commitment to Social Welfare and Security

 

Speaking on social welfare, Ogan Boye revealed that at the end of every month, the Nasarawa Local Government Council sets aside a portion of its funds to assist the less privileged, including patients struggling with healthcare expenses and orphaned children.

On security, he asserted that significant progress has been made in addressing issues of drug abuse and gang-related activities. He explained that by providing employment opportunities and integrating young people into positive societal roles, his administration has successfully curbed youth delinquency.

“Anyone who steps into Nasarawa Local Government can attest to the transformation—even a blind person would notice the change,” he stated confidently.

As his tenure progresses, Ogan Boye’s administration remains committed to fostering sustainable development and ensuring that Nasarawa continues on a path of economic and social revitalization.

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APC Director of Admin, Abdul Adeniji, dies in kidnappers’ custody

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Staffers of the National Secretariat of the All Progressives Congress (APC) have been thrown into a state of mourning on Thursday following the news of the murder of its Director of Administration, Dr. Abdulraif Adekunle Adeniji, by suspected kidnappers who abducted him since January 26 this year.

The kidnappers went ahead to murder Adeniji after collecting the sum of about N90 million ransom.

The late Adeniji was abducted alongside his brother and his wife who was immediately shot dead due to her inability to keep pace with them while on their way to an unknown destination.

APc’s Deputy Director of Administration, Ubagha Abel, in a statement, disclosed that the party secretariat will remain closed till Monday as a result of the unfortunate development.

The Guardian

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Special Adviser on Cooperative Groups Congratulates Governor Abba Kabir Yusuf on Leadership Awards in Education and Governance

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Honorable Jamilu Abbas Special Adviser cooperative Groups

Special Adviser on Cooperative Groups Congratulates Governor Abba Kabir Yusuf on Leadership Awards in Education and Governance

The Special Adviser on Cooperative Groups to Governor Abba Kabir Yusuf, Honourable Jamilu Abbas, has extended heartfelt congratulations to the governor for receiving the esteemed Leadership Governor of the Year 2024 award. This recognition, bestowed by the prominent Leadership Newspaper, underscores Governor Yusuf’s commitment to transformative governance.

In a statement issued to newsmen, Honourable Jamilu Abbas lauded the governor’s achievements, describing the award as a testament to his dedication to implementing people-oriented policies. “Governor Yusuf’s recognition by a national daily like Leadership Newspaper is a clear indication that his administration is focused on improving the lives of the common man,” Abbas remarked.

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Honourable Abbas further expressed his personal admiration for the governor’s accomplishments. “On behalf of myself and my family, I congratulate the people’s governor on this well-deserved award. It showcases that governance has firmly taken root in our state,” he stated.

Governor Yusuf’s accolades extend beyond this singular honor. He has also been celebrated by Vanguard Newspaper and Heritage Times Magazine, receiving titles such as Governor of the Year (Education) and African Governor of the Year (Good Governance). These recognitions collectively highlight his exemplary leadership and unwavering commitment to progress.

 

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