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CBN Extends Deadline For Old Naira Notes To Feb 10

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The CBN has extended the deadline for exchanging old naira notes by 10 more days, with the new end date set for February 10th, 2023.

CBN Governor Godwin Emefiele announced the extension after meeting with President Muhammadu Buhari in Daura on Sunday. The President has granted a 10-day grace period for the exercise.

CBN tweets that  “Deadline for the return of old series of 200, 500 and 1000 naira notes remains January 31 2023,” and includes a video of Governor Emefiele’s MPC stance on old notes.

In the video, Emefiele said, ”Unfortunately, I don’t have good news for those who feel we should shift the deadline, my apologies. The reason is because, just like the president has said more than two occasions and even to some people privately, 100 days is more than enough for anybody who has the old currency to deposit it in the banks. And we took every measure to ensure that all the banks were and are still open to accept deposits.”

Emefiele reports CBN has collected 1.9 trillion naira and only has 900 billion left to achieve policy implementation. Offers Nigerians who haven’t exchanged old notes a chance to do so.

“Based on the foregoing, we have sought and obtained Mr President’s approval for the following: a 10-day extension of the deadline from January 31, 2023, to February 10, 2023; to allow for collection of more old notes legitimately held by Nigerians and achieve more success in cash swap in our rural communities after which all old notes outside the CBN loses their Legal Tender Status.

“Our CBN staff currently on mass mobilization and monitoring together with officials of the EFCC and ICPC will work together to achieve these objectives.

“A 7-day grace period, beginning on February 10 to February 17, 2023, in compliance with Sections 20(3) and 22 of the CBN Act, allowing Nigerians to deposit their old notes at the CBN after the February deadline when the old currency would have lost its Legal Tender status,” CBN said in a statement.

CBN had introduced new 200, 500 & 1000 naira notes & set 31st Jan 2023 as deadline for exchanging old notes. Bank faced pressure to extend deadline due to shortage of new notes but maintained its stance until Sunday.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Bayern Won’t Sell Olise Even for €200m — Rummenigge Drops Bombshell

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Bayern Munich have made a strong statement over the future of winger Michael Olise, with Vice-President Karl-Heinz Rummenigge insisting the club would reject even a €200 million offer for the player.

The comments, reported by transfer expert Fabrizio Romano on Monday, highlight Bayern’s long-standing policy of prioritising sporting stability over financial gain.

SEE ALSO: BREAKING: Chelsea Hit With £10.75m Fine, Transfer Ban

Rummenigge explained that the club’s position is rooted in a historic decision made in 2009, when Bayern received a massive bid from Chelsea for Franck Ribéry.

After internal discussions involving then CFO Karl Hopfner and former president Uli Hoeneß, the club chose to reject the offer — a decision that shaped its modern transfer philosophy.

According to him, that principle remains unchanged today.

He stressed that Bayern do not consider selling players who are essential to the team, adding that even a record-breaking €200 million bid would not change their stance on Olise.

The statement is expected to fuel further transfer speculation across Europe, but Bayern officials maintain that Olise is a key part of their long-term sporting project and not for sale.

Bayern Munich continue to uphold their “untouchable players” policy, while Michael Olise remains central to their squad plans.

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AFCON 2025 Drama: Morocco Defends CAF Ruling Amid Growing Controversy

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The Fédération Royale Marocaine de Football (FRMF) has defended its position following the controversial ruling by the Confederation of African Football Appeal Board over the disputed 2025 Africa Cup of Nations final.

In a statement issued on Wednesday, the Moroccan football authority said its appeal was strictly aimed at ensuring the proper application of competition rules, and not to question the sporting merit or performance of any team involved in the final.

The federation emphasized its commitment to fairness, transparency, and the stability of African football competitions, noting that its actions were guided by respect for established regulations.

ALSO READ: JUST IN: Senegal Stuns Hosts Morocco To Lift AFCON 2025 Trophy

“The Federation reiterates that its approach has always been grounded in respect for the rules and stability of African competitions,” the statement read.

FRMF also praised all participating nations in the tournament, describing the 2025 AFCON as a significant milestone in the growth and development of football across the continent.

However, the body revealed that a more detailed position would be made public after a scheduled meeting of its governing organs.

The statement is expected to further clarify Morocco’s stance and outline any possible legal or administrative steps moving forward.

The CAF Appeal Board’s decision has continued to generate widespread reactions among football stakeholders, with growing calls for clearer regulations, improved transparency, and consistency in the administration of African football.

 

 

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Inside Tinubu’s Closed-Door Meeting With Opposition Leaders – SDP, IPAC Reveal Details

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The Social Democratic Party (SDP) and the Inter-Party Advisory Council (IPAC) have disclosed details of their recent closed-door meeting with President Bola Tinubu, explaining that the engagement focused on strengthening Nigeria’s democratic process ahead of the 2027 general elections.

The clarification came amid speculation surrounding the meeting, which took place at the Presidential Villa in Abuja after leaders of several opposition parties attended an Iftar dinner hosted by the president earlier in the week.

ALSO READ: NNPC Secures Tinubu’s Approval for $20bn FID on Bonga Deepwater Project

Speaking during a gathering hosted in Abuja by the SDP’s former presidential candidate, Adewole Adebayo on Friday, the party’s National Chairman, Prof. Sadiq Gombe, said the meeting with Tinubu followed an official invitation from the Presidency and lasted about an hour.

According to Gombe, the discussion centred on the need to strengthen Nigeria’s electoral laws and restore public confidence in the country’s electoral process ahead of the 2027 polls.

He explained that the meeting provided an opportunity for party leaders to remind the president of the importance of conducting transparent, free, and credible elections.

Gombe noted that democracy can only thrive when governments listen to the concerns of citizens and ensure electoral processes that guarantee fairness and accountability.

The SDP chairman also expressed concern over growing voter apathy, pointing to the low turnout recorded in the recent Area Council election in the Federal Capital Territory.

He said the Abuja Municipal Area Council election witnessed only about seven per cent voter turnout, which he described as a clear sign that many Nigerians are losing confidence in the electoral system.

Gombe urged the government and members of the National Assembly to take urgent steps to review electoral laws and rebuild public trust in Nigeria’s democracy.

Also speaking, the National Chairman of IPAC, Dr. Yusuf Dantalle, said political parties used the meeting to raise concerns about aspects of proposed electoral reforms, particularly issues related to indirect primaries and the mandatory electronic transmission of results.

Dantalle explained that the parties appealed to the president to use his influence to encourage legislative review where necessary, noting that reforms should strengthen, rather than complicate, the democratic process.

He expressed optimism that Tinubu would consider the concerns raised and support necessary amendments that would improve the electoral system.

The IPAC chairman also called on the Independent National Electoral Commission (INEC) to strictly adhere to electoral guidelines as preparations for the next election cycle begin.

Earlier in his remarks, Adebayo cautioned political actors against turning the 2027 general elections into a do-or-die contest, stressing that the primary goal of democracy should be the progress and stability of Nigeria rather than personal political victories.

He urged leaders across political parties to encourage citizens to actively participate in the democratic process and ensure that elections are conducted peacefully and transparently.

 

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