Connect with us

News

CBN Destroys Over 6 Trillion Bank Notes Under Buhari

Published

on

 

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.

#

I Will Defeat Kabiru Gaya Despite APC Power Of Incumbency- Kawu Sumaila

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.

 

 

News

Breaking :Inferno at Northwest University City Campus

Published

on

 

A raging fire has engulfed the Northwest University City Campus in Kano, with thick smoke billowing from the iconic Ado Bayero building. Reports indicate emergency responders are on the scene.

Details later

#
Continue Reading

News

Governor Yusuf Condoles Emir Sunusi II,APC Chairman Over The Demise Of Galadiman Kano

Published

on

 

In a solemn expression of grief, Governor Abba Kabir Yusuf has extended his heartfelt condolences to the Emir of Kano, His Highness Mallam Muhammadu Sanusi II, the Kano Emirate Council, and the Kano State APC Chairman, Alhaji Abdullahi Abbas, following the passing of the esteemed Galadiman Kano, Alhaji Abbas Sanusi.

The late Galadiman Kano, who passed away at the age of 91 on Tuesday night in Kano, was a revered elder statesman and a cornerstone of the Kano Emirate. His life was marked by dedicated service to the Emirate, where he held prominent traditional titles, including Wamban Kano, and served as a trusted advisor to the late Emir of Kano, Alhaji Ado Bayero.

Governor Abba Kabir Yusuf described the loss as a profound tragedy, not only for the Emirate but for the entire state of Kano. He praised the late Galadiman Kano for his wisdom, discipline, and unwavering commitment to preserving Kano’s rich cultural and traditional heritage.

“The passing of Alhaji Abbas Sanusi is a great loss to Kano State. He was a father to many and a custodian of our rich traditions. His wisdom and contributions to the progress of the Emirate will be remembered for generations,” Governor Yusuf remarked.

The Governor also extended his condolences to the people of Kano State, emphasizing the monumental loss of Alhaji Abbas Sanusi. He prayed for Almighty Allah’s mercy upon the departed soul and for strength for the family to endure this great loss.

In a statement signed by Comrade Ibrahim Abdullahi Waiya, Commissioner of Information and Internal Affairs, Governor Yusuf urged the people of Kano to honor the memory of the late Galadiman Kano through prayers and by upholding the values of unity and service that he exemplified throughout his life.

The passing of Alhaji Abbas Sanusi leaves a void in Kano’s traditional leadership, but his legacy of wisdom and dedication will continue to inspire generations to come.

#

Continue Reading

News

Hon. Abubakar Bichi Mourns The Passing Of Galadiman Kano, Alhaji Abbas Sunusi At 92

Published

on

 

In a heartfelt tribute, Honourable Abubakar Kabir Abubakar, Chairman of the House of Representatives Committee on Appropriation, has mourned the passing of Alhaji Abbas Sunusi, the Galadiman Kano, who died at the age of 92. The late Galadiman Kano passed away in Kano on Tuesday and was laid to rest the following day in accordance with Islamic rites.

Expressing his condolences, Hon. Abubakar Kabir Abubakar described the news of Alhaji Abbas Sunusi’s passing as a source of profound sadness and shock. He praised the late Galadiman Kano for leading a peaceful and exemplary life, which he deemed worthy of emulation.

#

The Honourable Member highlighted the special connection between the late Galadiman Kano and the people of Bichi, where he was born during the tenure of his father, the late Emir Muhammad Sanusi I, as the district head of Bichi. This bond, he noted, has continued to foster a sense of belonging among the people of Bichi, a constituency Hon. Abubakar currently represents in the Federal House of Representatives.

In his statement, Hon. Abubakar extended his condolences to the Kano State APC Chairman, Alhaji Abdullahi Abbas Sunusi, who lost his father at a time when his guidance and wisdom were most needed.

“On behalf of my family and the entire people of Bichi Federal Constituency, I pray to Almighty Allah to grant the late Galadiman Kano, Alhaji Abbas Sunusi, eternal rest and Aljannatul Firdausi,” said Hon. Abubakar Kabir Abubakar.

The passing of Alhaji Abbas Sunusi marks the end of an era for Kano State and the Kano Emirate Council, leaving behind a legacy of peace and leadership that will be remembered for generations to come.

Continue Reading

Trending