Author: Alade Adisa

The Central Bank of Nigeria (CBN), has disclosed that any Deposit Money Banks found culpable of issuing illegal flow of mint naira notes to currency hawkers across the country will be fined N150 million. A statement by the acting Director of Corporate Communications of the apex bank, Sidi Ali Hakama disclosed this information in Abuja. This development comes amidst the misinformation about the validity of the old N1000, N500, and N200 banknotes still in circulation. According to the apex bank, the denominations remained valid legal tender in line with a Supreme Court ruling issued on November 29, 2023, and warned…

The Nigerian National Petroleum Company Limited (NNPCL) has reduced the price of Premium Motor Spirit (petrol) across its retail outlets in the Federal Capital Territory. A visit to NNPCL retail outlets showed that the petrol pump price was reduced from N1,060 to N1,040 per litre, representing a reduction of N20. According to a filling station attendant at the NNPCL retail outlet along Kubwa expressway, “The price was reduced to N1,040 per litre from N1,060 on Saturday morning, Also, a motorist, Ezekiel Njoku, confirmed the development, saying, “The reduction of N20 is significant. We need further fuel price reductions in the…

Following rumours of a December 31 deadline for the phasing out of the old notes, the Central Bank of Nigeria (CBN) has reiterated that both the old and redesigned Naira notes of N1,000, N500, and N200 denominations will remain legal tender indefinitely. The apex bank’s Acting Director of Corporate Communications, Hakama Ali, in a statement issued on Friday by, cited a Supreme Court ruling delivered on 29 November 2023, which permits the concurrent circulation of all versions of the affected denominations without any deadline. It said the clarification follows widespread misinformation regarding the validity of the old notes. The statement…

South Korea’s parliament has voted to impeach President Yoon Suk Yeol over his short-lived attempt to impose martial law earlier this month. On Saturday, the country’s National Assembly voted by 204 to 85 to impeach Yoon and suspend his powers and duties, the Associated Press reported. The motion required the support of two-thirds of lawmakers to pass. Yoon had survived a first impeachment vote last Saturday after most of his ruling People Power Party (PPP) boycotted it. Yoon issued a martial law decree on December 3, which caused political turmoil across the country. It lasted only six hours as the…

President Bola Tinubu on Friday led a powerful delegation to the wedding of the children of the Deputy President of the Senate, Jubril Barau, and Emir of Bichi in Kano State, Nasiru Ado Bayero. The wedding, at the National Mosque in Abuja, also offered the President the opportunity to observe the Jummaah prayer there on Friday.

The Peoples Democratic Party (PDP) has asked former President Dr. Goodluck Jonathan to enter the fray and contest the 2027 presidential election on its platform. According to Saturday PUNCH, the party is desperate to secure the candidacy of the former university don, fearing he could be snapped up by another party to run for the presidency in 2027. It (Punch) further said PDP’s Deputy National Publicity Secretary, Ibrahim Abdullahi, emphasized that it would be a regrettable development if Jonathan chose another party for his presidential bid. He revealed that the PDP had been eagerly awaiting the former president’s return for…

High-profile Nigerian Pastor Tobi Adegboyega has dismissed claims that he was about to be deported from the UK, where his church is facing allegations of financial misconduct.Pastor Adegboyega, leader of SPAC Nation (Salvation Proclaimer Ministries Limited), now known as Nation Family, told the BBC: “There is no deportation order. Let me make that clear.”He said the court case was still an “ongoing issue.”Sporting two jewel-encrusted rings and a Louis Vuitton tie, the preacher says he arrived in the UK aged 25 in 2005 on a visitor’s visa and assumed his family was handling his immigration paperwork.But this was not the…

The Federal Government has said it would continue to push for membership of international bodies to advance its economy, adding that the country reserved the right to align with any country it deems fit. This comes on the backdrop of the recent threat by the President-elect of the United States of America, Donald Trump, to sanction countries that embraced BRICS. BRICS, originally an acronym for Brazil, Russia, India, and China, expanded in 2010 to include South Africa. Nigeria emerged as a partner country of BRICS in October, a move towards becoming a full member in the next two years. The…

The South African Department of Home Affairs (DHA) and the Border Management Authority have launched new border drones, tech and ‘deportation buses’ to combat an expected surge in illegal border crossings over the festive period. This marks the first time these have been used in tackling the country’s porous borders and marks the start of what DHA Minister Leon Schreiber calls a “dramatic” expansion of tech-driven solutions. “Our commitment to digital transformation and embracing technology is absolute,” Schreiber said at the launch. The first set of drones will specifically be deployed to five ports of entry throughout the festive period,…

The Court of Appeal sitting in Abuja on Friday nullified a judgment by the Federal High Court seeking to seize Rivers State’s statutory allocation / revenue from federation purse. The appellate court in a judgement delivered by Justice Hamma Barka said the High Court lacked the jurisdiction to entertain the suit, and that mere listing of federal agencies does not confer unrestricted jurisdiction on the Federal High Court. Justice Barka in his verdict ruled that the subject matter which is the appropriation issue of a state should not have been entertained. The Court upheld the submissions of Counsel to the…