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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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INEC Announces Job Vacancies for Accountants, Engineers, Admin, IT, Clinical Officers

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By Yusuf Danjuma Yunusa

The Independent National Electoral Commission (INEC) has announced job vacancies for Nigerians seeking employment in various entry-level positions, including accountants, engineers, clinical officers, lawyers and other roles.

In a memo signed by the commission, INEC said the application period would run from Monday, July 20, to Monday, July 27, 2026.

“The recruitment exercise is aimed of strengthening the Commission’s institutional capacity in electoral administration, voter registration, data management, election logistics, and other critical electoral operations in furtherance of its constitutional mandate,” the memo reads.

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The commission listed accountant, clinical officer, lawyer, ICT officer, engineer, quantity surveyor, registration area officer (administrative officer) and registration area officer (executive officer) among the available vacancies.

It noted that applicants must be Nigerian citizens by birth or descent and must present a valid Certificate of State of Origin duly signed by the chairman or secretary of their local government.

It added that certificates endorsed by liaison officers would not be accepted.

The commission also said applicants must be computer literate and not be above 35 years of age at the time of application.

According to INEC, applicants must possess good character, must not have been convicted of any criminal offence, and must be willing to serve in any part of the federation where they are assigned.

It added that applicants must demonstrate integrity, discipline and commitment to public service.

INEC said applicants should submit their applications online through the INEC Recruitment Portal by clicking on the “Vacancies” tab on the homepage, completing the appropriate application form, uploading all required credentials and submitting the application online.

The commission further added that only shortlisted candidates would be invited to the next stage of the recruitment exercise.

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Kano Executive Council Approves ₦55.48bn for Schools, Roads, Healthcare, Water Project’s

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The Kano State Executive Council has approved projects and programmes worth ₦55.48 billion, with education receiving the largest share of the spending as the government intensifies efforts to improve infrastructure, healthcare, road networks, water supply and rural development across the state.

 

The approvals were made during the 40th Executive Council Meeting presided over by Governor Abba Kabir Yusuf at the Council Chamber, Government House, Kano.

 

Briefing journalists after the meeting, the Commissioner for Information and Internal Affairs, Comrade Ibrahim Abdullahi Waiya, said the Council approved a total expenditure of ₦55,475,406,487.82 for strategic projects designed to accelerate socio-economic development and improve the welfare of residents.

 

According to him, the approvals reflect the administration’s commitment to strengthening education, healthcare, road infrastructure, water supply, environmental sanitation, housing, rural development and public service delivery.

 

Education Takes the Largest Share

 

Education emerged as the biggest beneficiary, with the Council approving more than 30 projects involving the renovation and construction of schools, provision of classrooms, libraries, ICT centres, staff quarters, perimeter fencing, furniture and solar power installations across the state.

 

Among the major approvals were the rehabilitation of Sani Bello Science College, Dawakin Kudu at over ₦1.02 billion, rehabilitation of Science Secondary School, Dawakin Tofa worth ₦896.3 million, settlement of outstanding boarding school feeding bills amounting to ₦816.2 million, establishment of the Maryam Abba Yusuf Modern Learning Centre at Rijiyar Gwangwan, rehabilitation of 31 buses under the Girls Child Education Initiative, and procurement of educational materials for special education schools.

 

Major Investments in Healthcare

 

The Council also approved several healthcare projects aimed at expanding access to quality medical services.

 

These include the reconstruction and upgrading of primary healthcare centres in Kumbotso, Kiru, Dukawa, Gano, Warawa, Gwale and Nassarawa, procurement of medical equipment for Garun Malam General Hospital, Ghari General Hospital, and the Kano State Comprehensive Sickle Cell Treatment Centre at Murtala Muhammad Specialist Hospital.

 

Billions for Roads and Infrastructure

 

Road construction and infrastructure development also received significant attention.

 

Among the key approvals were:

 

Construction of the Ungogo–Minjibir Road valued at ₦10.47 billion.

Construction of the Kofar Waika–Turba–Gidan Siminti–Dorawar Dillalai Road traversing Gwale, Dala and Ungogo Local Government Areas at ₦3.67 billion.

Reconstruction of roads around Singer Market at ₦3.09 billion.

Reconstruction of Ali Yakasai and Tukur Roads in Nassarawa Local Government Area.

Installation of solar-powered street lights on major roads.

Completion of the New Kano State House of Assembly Office Complex and other public infrastructure.

Compensation for Road Projects

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Under the Ministry of Land and Physical Planning, the Council approved over ₦6.5 billion as compensation to property owners affected by major road projects.

 

The beneficiaries include owners of 361 properties affected by the Kano Northern Bypass Road, 1,113 properties along the Gaya Dualised Road Project, and those impacted by the Kano–Dawakin Tofa–Gwarzo–Dayi Dualisation Project.

 

The Council also approved the purchase of a property at Kofar Nassarawa for conversion into an Islamiyya school for girls and women.

 

Water Supply, Environment and Flood Control

 

To improve water supply and environmental sanitation, the Council approved over ₦7 billion for the supply of diesel to water works, payment of electricity bills, annual desilting of drainage channels, cemetery intervention works, beautification of parks and construction of drainage systems across Gwale Local Government Area.

 

Housing and Rural Development

 

The Executive Council further approved the construction of perimeter fences and security gates at Kwankwasiyya City and Amana City, as well as the release of ₦1.169 billion as counterpart funding for the Rural Access and Agricultural Marketing Project (RAAMP).

 

It also approved the implementation of a Five-Year Kano Integrated Rural and Sustainable Community Development Framework.

 

Information Ministry Gets Broadcasting Equipment

 

The Council approved the procurement of modern broadcasting equipment for the Kano State Broadcasting Corporation, renovation of the office of the Commissioner for Information and Internal Affairs, and a two-day capacity-building workshop for public information officers across Ministries, Departments and Agencies.

 

Health Bills Head to Assembly

 

Beyond project approvals, the Executive Council approved the transmission of several health-related bills to the Kano State House of Assembly.

 

The proposed legislation includes the review of the Kano State Primary Health Care Management Board Law, the establishment of colleges of health sciences through the upgrading of health institutions in Kano and Bebeji, and the review of the Kano State Drugs and Medical Consumables Supply Agency Bill.

 

Council Bans ‘Daba’

 

The Council also declared the practice popularly known as “Daba” a deviant and unacceptable social act, directing security agencies and relevant government institutions to intensify enforcement against the practice.

 

It equally approved Kano State’s participation in the NG-CARES 2.0 Additional Financing Programme, aimed at expanding social protection initiatives, supporting vulnerable households and stimulating economic recovery.

 

Hajj, Halal Economy Receive Attention

 

Council members received a report on the successful conduct of the 2026 Hajj exercise, commending the welfare and safe transportation of Kano pilgrims.

 

They also received a presentation on the US$7.7 trillion Global Halal Economy, highlighting opportunities for Kano State to become a leading hub for Halal products and services.

 

Presentations were equally made on the Kano State Master Plan and achievements recorded in the revitalisation of regional water supply schemes.

 

Governor Receives Multiple Awards

 

During the meeting, Governor Abba Kabir Yusuf received several awards and recognitions from professional bodies, civil society organisations, youth groups, health institutions and media organisations in recognition of his administration’s performance in education, infrastructure, healthcare and public service.

 

Among the organisations that honoured the Governor were the Administrative Staff College of Nigeria (ASCON), the Computer Society of Nigeria, the Sickle Cell Foundation of Nigeria, the Association of Industrial Pharmacists of Nigeria, the Institute of Chartered Secretaries and Administrators of Nigeria, the Kano State Online Media Chapel, and several other professional and community organisations.

 

Speaking on the outcome of the meeting, Waiya said the decisions taken by the Executive Council underscore Governor Yusuf’s determination to deliver sustainable development and improve the quality of life of the people of Kano State through strategic investments in critical sectors

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Kwankwaso Hails President Trump for Commending Tinubu’s Efforts in Securing Nigeria

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The persistent stance taken against every inch of insecurity in Nigeria by President Tinubu, which today earned him global commendations, including that of President Donald Trump of America, calls for the Nigerian opposition to stop baseless attacks on the government and join hands with the President to secure the nation.

This was the submission of Dr. Musa Illiyasu Kwankwaso, the Director of Finance, Hadejia Jama’are River Basin, in a release he personally signed and issued to newsmen.

Kwankwaso is of the view that despite the open commendations of great presidents of the world, including President Trump, President Tinubu has maintained a relentless position in ensuring that the nation’s citizens sleep with their eyes closed without fear.

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“You can see that President Tinubu has earned great commendation from President Trump on his fight against insecurity. This is clearly an open fact that Nigeria today is getting it right and calls for every person who truly loves the country to give his support to the government.”

He added that, “Another thing of interest, and something that shows the love and concern President Tinubu has for Nigerians, is that he has given the go-ahead for the expansion of the nation’s military formations from eight to twelve.”

Bayo Onanuga, Special Adviser to the President (Information & Strategy), said in a release that President Bola Ahmed Tinubu has approved the expansion of the Nigerian Army’s structure from eight to twelve divisions—a landmark move to enhance the country’s security architecture and improve the operational effectiveness of the Nigerian Army.

Musa Illiyasu Kwankwaso highlighted that this approval underscores the President’s unwavering commitment to equipping the Armed Forces to address Nigeria’s evolving security challenges effectively and to further strengthen national defence capabilities.

He assured Nigerians that, sooner rather than later, citizens would be traveling freely from one end of the country to another without fear of being attacked.

The Director of Finance, Hadejia Jama’are River Basin, also commended Mallam Nuhu Ribadu, Ministers of Defence Badaru and Matawalle, as well as all the Service Chiefs, for their unwavering efforts in strengthening Nigeria’s security.

“Nigerians should pray for and appreciate these gentlemen for their total commitment to securing the country and freeing it from the shackles of insecurity.”

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