NEWS
[BREAKING] PMB Extends Legality Old N200 Notes to April 10
President Muhammadu Buhari has approved that the old N200 notes can circulate side-by-side the new notes until April 10, 2023.
The presidential directive was given in a nationwide broadcast from Abuja on Thursday.
According to President Buhari, the extension was necessitated by the need to cushion the hardship experienced by citizens following the implementation of the new monetary policy of the Central Bank of Nigeria (CBN).
He added that his action followed wide consultations with relevant stakeholders.
In his words, ”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 court of our land and some pronouncements had been made.
”To further ease the supply pressure particularly to our citizens, I have given approval to the CBN that the old N200 bank note be released back into circulation and that should also be allowed to circulate as a legal tender with the new N200, N500 and N1,000 bank notes for 60 days from Feb. 10, 2023 to April 10, 2023 when the old N200 ceases to be legal tender.
”In line with section 20 sub-section 3 of the CBN Act 2007, all the existing old N1,000 and N500 notes remain redeemable at CBN and designated points.”
President Buhari recounted the benefits of the ongoing financial reforms embarked upon by the apex bank, challenged the citizens to make their deposits of the old notes by taking advantage of the platforms and windows being provided by the CBN.
He revealed that he had since directed the CBN to deploy all legitimate resources and legal means to ensure that citizens are adequately educated on the new policy, enjoy easy access to cash withdrawal through availability of appropriate amount of currency and ability to make deposits.
In the broadcast, President Buahri also directed the CBN to intensify collaboration with anti-corruption agencies in checking the activities of those who were bent on sabotaging the smooth implementation of the new Naira redesign policy.
He reassured that government would continue to assess the implementation of the policy with a view to ensuring that Nigerians are not unnecessarily burdened while urging the CBN to ensure the availability of the new Naira notes across the country.
While calling for more understanding from the citizens, Presdietn Buhari, reiterated the commitment of his administration to handover a financially stable economy to the incoming administration on May 29, 2023.
Oil marketers have warned that Nigerians may soon pay as much as ₦1,500 per litre for Premium Motor Spirit (PMS), commonly known as petrol, as global oil prices surge following the escalating conflict involving Iran in the Middle East.
The National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Dr. Billy Gillis-Harry, issued the warning on Tuesday while speaking on a television programme on the impact of the global crisis on fuel prices.
According to him, the current volatility in the international oil market has already pushed petrol prices above ₦1,000 per litre at the depot level, with the ex-depot price from the Dangote Petroleum Refinery now standing at about ₦1,175 per litre.
He explained that once logistics, transportation, and other operational costs are added, the final pump price could rise significantly, possibly reaching ₦1,500 per litre in the near future.
Despite concerns about the rising cost of fuel, Gillis-Harry noted that steady availability of petroleum products from the Dangote Refinery remains a major relief for Nigeria, stressing that consistent supply is better than a nationwide fuel scarcity.
He added that the refinery’s production capacity is helping to stabilize supply across the country at a time when global markets remain highly unstable.
The latest price adjustment by the Dangote Refinery marks the fourth review within two weeks. Petrol prices increased from ₦995 per litre to ₦1,175 per litre, while diesel rose from ₦1,430 to about ₦1,620 per litre.
The development comes amid a sharp spike in international crude oil prices triggered by fears of supply disruptions due to the ongoing Middle East conflict.
Brent crude recently climbed above $102 per barrel, while West Texas Intermediate (WTI) rose to around $101 per barrel.
Industry analysts say the rising oil prices are already having a ripple effect on Nigeria’s downstream petroleum sector, forcing depot operators and fuel marketers to adjust their prices in response to the global market trend.
Meanwhile, the management of Dangote Petroleum Refinery has stated that although Nigeria introduced a crude-for-naira arrangement to support local refineries, the facility still purchases crude oil at international market prices, leaving it exposed to global price fluctuations.
The United Nations has raised the alarm over a dramatic surge in attacks on schools worldwide, reporting a 166% increase between 2021 and 2024.
The rise highlights the escalating dangers faced by children in conflict zones.
United Nations Deputy High Commissioner for Human Rights, Nada Al-Nashif, revealed the figures during the annual meeting of the UN Human Rights Council on the rights of the child on Monday.
The session, themed “Mainstreaming the Rights of Children in Armed Conflict: Prevention and Protection,” focused on protecting children amid global conflicts.
Al-Nashif noted that the attacks were particularly concentrated in Sudan, Ukraine, the Gaza Strip, Myanmar, and Ethiopia, where children remain among the most vulnerable victims.
“In 2024, armed conflict directly affected nearly one in six children globally—about 470 million children,” she said. “Years of lost education, trauma, and lasting mental scars shape societies for generations. Long after the fighting subsides, children continue to face deadly risks.”
She highlighted Gaza as having the world’s highest number of child amputees per capita, warning that the impact of war goes far beyond immediate violence.
In Lebanon, government figures show that more than 450,000 people were displaced in less than a week, with at least 394 fatalities, including 83 children, during the 2024 conflict with Israel.
Al-Nashif also stressed the disproportionate risks for displaced children, who are more likely to die from disease linked to unsafe water and sanitation than from direct violence.
In the Democratic Republic of Congo, a 2025 cholera outbreak killed 340 children, underscoring the long-term consequences of conflict.
She called on states to uphold their international obligations to protect children, insisting that protecting children is “both a legal obligation and a humanitarian moral imperative.”
Also speaking at the council, Vanessa Frazier, Special Representative of the UN Secretary-General for Children and Armed Conflict, warned that violence against children continued at extreme levels in 2025.
She urged mainstreaming child protection across peace, security, humanitarian, human rights, and development efforts, emphasizing that children should actively participate in shaping policies designed to safeguard them.
Frazier highlighted her office’s global campaign, “Prove It Matters,” aimed at amplifying children’s voices in conflict resolution and peacebuilding.
The UN report underscores the urgent need for coordinated international action to protect children and ensure their safety in conflict zones worldwide.
Portugal officially inaugurated its new president, Antonio Jose Seguro, on Monday, pledging to bring stability to a nation shaken by political uncertainty and natural disasters.
Seguro, the centre-left candidate, won last month’s presidential run-off against far-right rival Andre Ventura, following weeks of catastrophic storms that killed at least seven people and caused approximately €4 billion ($4.6 billion) in damage.
Speaking at his swearing-in ceremony in Lisbon’s parliament, Seguro emphasized cooperation with the minority right-wing government and vowed to end the country’s “electoral frenzy.”
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“I will do everything I can to put an end to this electoral frenzy,” he said, pointing to the inability of previous governments to complete their terms.
Amid global crises, including conflicts in the Middle East and a more isolationist US approach under President Donald Trump, Seguro stressed the importance of multilateralism.
“The force of law has been replaced by the power of the strongest,” he remarked.
Seguro succeeds Marcelo Rebelo de Sousa, a conservative who leaves office at 77 after serving two five-year terms.
While the Portuguese presidency is largely ceremonial, Seguro’s leadership signals a commitment to political stability and international engagement.
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