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Only Old 200 Naira Remains Legal Tender Till April-Buhari

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NATIONAL BROADCAST BY HIS EXCELLENCY MUHAMMADU BUHARI, PRESIDENT, FEDERAL REPUBLIC OF NIGERIA ON THE CHALLENGES OF THE CURRENCY SWAP AND STATE OF THE NATION, ON 16th FEBRUARY, 2023

My Dear Compatriots,

I have found it necessary to address you today, on the state of the nation and to render account on the efforts of our administration to sustain and strengthen our economy, enhance the fight against corruption and sustain our gains in the fight against terrorism and insecurity which has, undoubtedly, been impacted by several internal and external factors.

2. Particularly, I am addressing you, as your democratically elected President, to identify with you and express my sympathy, over the difficulties being experienced as we continue the implementation of new monetary policies, aimed at boosting our economy and tightening of the loopholes associated with money laundering.

3. Let me re-assure Nigerians, that strengthening our economy, enhancing security and blockage of leakages associated with illicit financial flows remain top priority of our administration. And I shall remain committed to my oath of protecting and advancing the interest of Nigerians and the nation, at all times.

4. In the last quarter of 2022, I authorised the Central Bank of Nigeria (CBN) to redesign the N200, N500, and N1000 Nigerian banknotes.

5. For a smooth transition, I similarly approved that the redesigned banknotes should circulate concurrently with the old bank notes, till 31 January 2023, before the old notes, cease to be legal tender.

6. In appreciation of the systemic and human difficulties encountered during implementation and in response to the appeal of all citizens, an extension of ten days was authorized till 10th February, 2023 for the completion of the process. All these activities are being carried out within the ambit of the Constitution, the relevant law under the CBN Act 2007 and in line with global best practices.

7. Fellow citizens, while I seek your understanding and patience during this transient phase of implementation, I feel obliged to avail you a few critical points underpinning the policy decision. These include:

a. The need to restore the statutory ability of the CBN to keep a firm control over money in circulation. In 2015 when this administration commenced its first term, Currency-in-Circulation was only N1.4trillion.

b. The proportion of currency outside banks grew from 78%in 2015 to 85% in 2022. As of October 2022, therefore, currency in circulation had risen to N3.23 trillion; out of which only N500 billion was within the Banking System while N2.7 trillion remained permanently outside the system; thereby distorting the financial policy and efficient management of inflation;

c. The huge volume of Bank Notes outside the banking system has proven to be practically unavailable for economic activities and by implication, retard the attainment of potential economic growth;

d. Economic growth projections make it imperative for government to aim at expanding financial inclusion in the country by reducing the number of the unbanked population; and

 

e. Given the prevailing security situation across the country, which keeps improving, it also becomes compelling for government to deepen its continuing support for security agencies to successfully combat banditry and ransom-taking in Nigeria

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8. Notwithstanding the initial setbacks experienced, the evaluation and feedback mechanism set up has revealed that gains have emerged from the policy initiative.

9. I have been reliably informed that since the commencement of this program, about N2.1 trillion out of the banknotes previously held outside the banking system, had been successfully retrieved.

10. This represents about 80% of such funds. In the short to medium and long terms, therefore, it is expected that there would be:

a. A strengthening of our macro economic parameters;

b. Reduction of broad money supply leading to a deceleration of the velocity of money in the economy which should result in less pressures on domestic prices;

c. Lowering of Inflation as a result of the accompanying decline in money supply that will slow the pace of inflation;

d. Collapse of Illegal Economic Activities which would help to stem corruption and acquisition of money through illegal ways;

e. Exchange Rate stability;

f. Availability of Easy Loans and lowering of interest rates; and

g. Greater visibility and transparency of our financial actions translating to efficient enforcement of our anti- money laundering legislations.

11. I am not unaware of the obstacles placed on the path of innocent Nigerians by unscrupulous officials in the banking industry, entrusted with the process of implementation of the new monetary policy. I am deeply pained and sincerely sympathise with you all, over these unintended outcomes.

12. To stem this tide, I have directed the CBN to deploy all legitimate resources and legal means to ensure that our citizens are adequately educated on the policy; enjoy easy access to cash withdrawal through availability of appropriate amount of currency; and ability to make deposits.

13. I have similarly directed that the CBN should intensify collaboration with anti-corruption agencies, so as to ensure that any institution or person(s) found to have impeded or sabotaged the implementation should be made to bear the full weight of the law.

14. During the extended phase of the deadline for currency swap, I listened to invaluable pieces of advice from well meaning citizens and institutions across the nation.

15. I similarly consulted widely with representatives of the State Governors as well as the Council of State. Above all, as an administration that respects the rule of law, I have also noted that the subject matter is before the courts of our land and some pronouncements have been made.

16. To further ease the supply pressures particularly to our citizens, I have given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from February 10, 2023 to April 10 2023 when the old N200 notes ceases to be legal tender.

17. In line with Section 20(3) of the CBN Act 2007, all existing old N1000 and N500 notes remain redeemable at the CBN and designated points.

18. Considering the health of our economy and the legacy we must bequeath to the next administration and future generations of Nigerians, I admonish every citizen to strive harder to make their deposits by taking advantage of the platforms and windows being provided by the CBN.

19. Let me assure Nigerians that our administration will continue to assess the implementation with a view to ensuring that Nigerians are not unnecessarily burdened. In this regard, the CBN shall ensure that new notes become more available and accessible to our citizens through the banks.

20. I wish to once more appeal for your understanding till we overcome this difficult transient phase within the shortest possible time.

21. Fellow citizens, on the 25th of February, 2023 the nation would be electing a new President and National Assembly members. I am aware that this new monetary policy has also contributed immensely to the minimization of the influence of money in politics.

22. This is a positive departure from the past and represents a bold legacy step by this administration, towards laying a strong foundation for free and fair elections.

23. I urge every citizen therefore, to go out to vote for their candidates of choice without fear, because security shall be provided and your vote shall count.

24. I however admonish you to eschew violence and avoid actions capable of disrupting the electoral processes. I wish us all a successful General Elections.

Thank you for listening. God bless the Federal Republic of Nigeria.

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International Arabic Conference Calls for AI Integration

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An international conference on Arabic language and literature held at Bayero University, Kano (BUK), has called for the integration of artificial intelligence, digitalisation and modern technology into the teaching, research and development of Arabic language studies. The recommendation was contained in a communiqué issued at the end of the conference organised by the Department of Arabic, Faculty of Arts and Islamic Studies, BUK, from September 28 to 30, 2026.

The conference, titled “Contemporary Issues in Arabic Language and Literature: Prospects and Challenges,” brought together scholars, researchers, postgraduate students, educators and officials from Nigeria and other countries, including Chad, Algeria and Egypt, according to the communiqué signed by Professor Muhammad Rabiu Auwal, Chairman of the Local Organising Committee.

The conference participants said the rapid development of artificial intelligence and digital technology had created both opportunities and challenges for the Arabic language, urging scholars and relevant authorities to develop practical approaches for advancing Arabic language teaching, learning and research in the digital era, according to the communiqué.

The participants also called on governments, educational institutions and policymakers to explore the use of Arabic in national development, particularly in education, media, translation, diplomacy, the economy and culture. The conference further recommended aligning Arabic studies with societal needs and labour market demands through research in language, literature, criticism, linguistics, translation and interdisciplinary studies, according to the communiqué.

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The conference urged stakeholders to review Arabic language teaching methods and curricula, particularly for non-native speakers, while strengthening the connection between Arabic studies and modern fields such as computing, artificial intelligence, translation, media, tourism, diplomacy and the economy. The communiqué also called for collaboration between Arabic departments and departments of computer science, artificial intelligence, linguistics, translation and media.

The participants further recommended stronger academic cooperation between Nigerian universities and institutions around the world through exchange programmes, joint research projects, conferences, seminars, co-supervision of academic theses, exchange of professors and researchers, and sharing of scholarly publications and resources, according to the conference communiqué.

The conference also called for greater cultural and intellectual exchange between Arabic-speaking communities and Africa’s diverse peoples and languages, while encouraging students in higher institutions to pursue innovative research topics rather than merely repeating traditional areas of study. The participants, however, stressed the importance of preserving Arabic cultural heritage while embracing new areas of scholarship and technological development.

The opening ceremony was attended by representatives of the Vice Chancellor of Bayero University, Kano, and the Wazirin Kano, as well as the Director of the Egyptian Cultural Centre in Kano, the Vice President of the Association of Arabic Language and Literature Teachers in Nigeria, and the Deputy Vice-Chancellor of Mangal University of Technology in Chad, who delivered the keynote address, according to the communiqué.

The conference also called on governments and institutions to provide resources for Arabic-related scientific research and support academic programmes, conferences, seminars and research initiatives aimed at strengthening the language in response to contemporary challenges.

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World Teachers’ Day: NUT Urges Kano Govt to Declare October 5 Public Holiday, Advocates Special Salary Scale

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The Nigeria Union of Teachers (NUT), Kano State Wing, has called on the Kano State Government to declare October 5 every year as a public holiday in the state to recognise and celebrate the contributions of teachers to the development of society. The NUT Chairman, Comrade Baffa Ibrahim Garko, made the call on Monday during the 2026 World Teachers’ Day celebration held at the Coronation Hall of the Kano State Government House.

Garko said the celebration, which coincided with the 60th anniversary of the NUT’s commitment to protecting and advancing the teaching profession, should go beyond ceremonies to address issues affecting the welfare, professional status and working conditions of teachers. He said the union represented more than 100,000 teachers across Kano State and described teachers as the foundation upon which every other profession and the future of society are built.

The NUT chairman commended Governor Abba Kabir Yusuf’s administration for what he described as significant interventions in the education sector, including the regular payment of salaries, implementation of promotions and their financial benefits, provision of teaching and learning materials, implementation of interventions under the state of emergency on education, improved performance in NECO examinations and the construction and renovation of schools across the state. Garko said the interventions had restored confidence among teachers and contributed to creating better conditions for teaching and learning.

Garko, however, urged the government to address what he described as disparities between teachers in basic and post-primary education by reviewing salary structures, allowances and conditions of service. He also called for the strengthening of the Secondary Schools Upkeep Programme, saying schools required adequate and timely resources for maintenance, sanitation, furniture, instructional materials and other essential needs to provide a safe and conducive learning environment.

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The NUT chairman further appealed to the Kano State Government to provide the union with an official bus to facilitate its activities across the state, while also calling for the payment and review of principals’ duty posts and allowances in recognition of the responsibilities they shoulder in managing secondary schools. Garko said principals perform critical administrative, academic and supervisory functions and should have their responsibilities appropriately reflected in their remuneration.

Garko also urged the government to address the salary scale and retirement benefits of teachers serving as Sit-in Directors in both primary and post-primary education, arguing that teachers who take on additional administrative responsibilities should not be disadvantaged when they retire. He appealed for the recruitment of more teachers to address manpower shortages, implementation of outstanding promotions and financial benefits, improved welfare packages and continued investment in infrastructure and teaching materials.

The governor, Abba Kabir Yusuf, represented by the Secretary to the Kano State Government, Umar Farouk Ibrahim, reaffirmed his administration’s commitment to improving teachers’ welfare, professional development and working conditions. The governor said supporting teachers amounted to investing in the future of Kano State, adding that his administration had fulfilled commitments to recruit more teachers, improve the learning environment, construct and renovate classrooms, provide furniture and teaching aids, and invest in the intellectual and professional development of teachers.

Presenting a paper titled “Repositioning Teachers and Quality Education for Sustainable Development in Kano State,” Professor Auwalu Halilu said World Teachers’ Day should serve as a reminder that teachers play a critical role in shaping the future rather than being limited to ceremonial celebrations. He said standing with teachers represented a social contract and required professionalisation, effective teaching, improved welfare and greater engagement of teachers in digital transformation, adding that teachers remained central to educating girls, mobilising communities and producing professionals such as doctors, engineers and entrepreneurs. Halilu commended the Kano State Government for implementing teacher competency tests and urged continued efforts to reposition teachers through improved welfare, conducive working environments and professional development. The National President of the NUT also said the aspirations and expectations of teachers had not yet been fully achieved, but expressed confidence that the challenges could be overcome through continued commitment, responsible leadership and dedication to duty.

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Kano First Forum Petitions Police Over Alleged Inciting Statements by Aminu Babba Dan Agundi

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The Incorporated Trustees of the Kano First Forum have petitioned the Kano State Commissioner of Police over alleged public statements by Alhaji Aminu Babba Dan Agundi which the organisation said could heighten tension and threaten public peace in the state.

The petition, signed by the Forum’s solicitor, Barrister Badamasi Suleiman Gandu, urged the police to conduct a discreet, impartial and comprehensive investigation into the statements allegedly made by Dan Agundi during a press briefing on October 1, 2026.

According to the petition, the press briefing followed the participation of Khalifa Muhammadu Sanusi II, the Emir of Kano, in the Independence Day celebration and touched on issues surrounding the reported use of a horse by the monarch during the event.

The Forum alleged that the issue was particularly significant because of an existing directive by the Kano State Government concerning the use of horses, adding that the circumstances surrounding the Emir’s participation in the celebration had generated public discussion.

Kano First Forum, however, said its major concern was a statement allegedly made by Dan Agundi during the briefing in which he was quoted as telling the people of Kano State to “await their return and await further directives from them.”

The organisation described the statement as sensitive in view of the longstanding disagreements surrounding the Kano Emirate and urged security agencies to establish the context and intention behind the words.

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According to the Forum, leaving members of the public to speculate about who would return, what such a return would mean and what the reference to “further directives” entailed could create unnecessary fear, anxiety and tension among residents.

The Forum said its decision to petition the police was motivated by the need to prevent statements or actions that could potentially escalate existing disagreements into confrontation.

It stressed, however, that its intervention should not be interpreted as an attempt to suppress legitimate political expression, traditional disagreements, criticism or other lawful forms of public discourse.

Rather, Kano First Forum said its objective was to ensure that disagreements concerning the Kano Emirate were addressed through lawful and peaceful channels without exposing residents to unnecessary tension or the risk of conflict.

The organisation therefore called on the Kano State Police Command to examine the circumstances surrounding the alleged statements, establish their full context and determine whether they amounted to any breach of the law or conduct capable of disturbing public peace.

The Forum also appealed to political, traditional, religious and community leaders in Kano State to exercise restraint in their public communications, particularly when commenting on sensitive matters relating to the Kano Emirate.

It maintained that Kano occupies an important commercial, social and political position and that any development capable of undermining peace in the state could have consequences for millions of residents.

The organisation consequently urged all stakeholders to place the safety and security of residents above personal, political or institutional interests.

“Whatever differences may exist concerning the Kano Emirate, they must be resolved through the courts and other lawful institutions, rather than through statements that could be interpreted as threats, directives or calls for confrontation,” the Forum stated in the petition.

Kano First Forum further said it remained committed to the protection of peace, public safety and the rule of law, explaining that the petition was filed in an effort to prevent avoidable conflict and protect lives and property.

The petition was addressed to the Commissioner of Police, Kano State Command, while copies were also forwarded to the Inspector-General of Police and the Department of State Services for their attention.

The Forum subsequently appealed to the security agencies to independently assess the allegations and take any lawful measures considered necessary to preserve peace and prevent developments that could threaten public order in Kano State.

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