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JUST IN: Supreme Court Adjourns Illegality of Old Naira Notes

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The Supreme Court has restrained the Federal Government of Nigeria, the Central Bank of Nigeria as well financial institutions from treating the old currency notes of N200, N500 and N1000 as illegal tender from Friday February 10, 2023 as early planned.

A seven-member panel of Supreme Court Judges, led by Justice John Okoro, entered the ruling on Wednesday in Abuja.

The order followed an exparte application brought by three northern states of Kaduna, Kogi and Zamfara.

Specifically, the three states approached the court for an order of Interim Injunction restraining “the federal government through the Central Bank of Nigeria (CBN) or the commercial banks from suspending or determining or ending on Feb. 10, the time frame with which the now older version of the 200, 500 and 1,000 denomination of the naira may no longer be legal tender pending the hearing and determination of their motion on notice for interlocutory injunction”.

Consequently, Justice Okoro, held that after a careful consideration of the motion exparte this application was granted as prayed: “An order of Interim Injunction restraining the federal government through the Central Bank of Nigeria (CBN) or the commercial banks from suspending or determining or ending on Feb. 10, the time frame with which the now older version of the 200, 500 and 1,000 denomination of the naira may no longer be legal tender pending the hearing and determination of their motion on notice for interlocutory injunction”.

The matter was adjourned until Feb. 15, for hearing of the main suit.

Moving the application on Wednesday, counsel to the applicants, A. I. Mustapha, (SAN), urged the apex court to grant the application in the interest of justice and the well-being of Nigeria.

He submitted that the naira redesign policy of the government has brought upon Nigerians an “excruciating situation that is almost leading to anarchy in the land.”

While he referred to a Central Bank of Nigeria’s (CBN) statistics which put the number of people who don’t have bank accounts at over 60 percent, Mustapha lamented that the few Nigerians with bank accounts can’t even access their monies from the bank as a result of the policy.

He also put it before the Judges that unless the Supreme Court intervened the situation would lead to anarchy because most banks were already closing operations.

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‘Act Now as UN Warns of Escalating Food Crisis in the North’ – Obi to FG

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Former Anambra State Governor and 2027 presidential candidate of the National Democratic Congress (NDC), Peter Obi, has expressed concern over a recent United Nations warning of a worsening food crisis in Northern Nigeria, urging the Federal Government and state governments to take immediate steps to prevent the situation from deteriorating further.

Obi made the call on Saturday in a post shared on his X account, describing the development as disturbing, especially because Northern Nigeria has traditionally been regarded as the country’s food-producing region.

The former governor stressed the need for more effective policy implementation to address the growing humanitarian challenge, urging governments at all levels to make proactive investments in securing agricultural corridors and supporting smallholder farmers with accessible resources to improve food production.

SEE ALSO: No Joy on Children’s Day as Students Languish in Captivity — Peter Obi

He also called on authorities to work closely with the United Nations World Food Programme (WFP) and other development partners to bridge existing funding gaps before the crisis worsens.

According to Obi, the WFP’s latest assessment revealed that more than 17 million people across nine northern states are currently facing crisis-level hunger, while over 35 million Nigerians could be at risk during the ongoing lean season.

He further cited reports indicating that more than 10,000 residents of Borno State have entered what humanitarian agencies describe as “catastrophic hunger conditions.”

“Insecurity, including banditry and insurgency, has prevented many farmers from accessing their farmlands and remains a major obstacle to agricultural production,” Obi said.

The former presidential candidate called for improved security across farming communities and increased investment in rural infrastructure and agricultural productivity to restore food production.

He also urged policymakers to prioritise production-driven economic policies aimed at expanding cultivated land and boosting agro-industrial output.

According to Obi, Nigeria has the resources and agricultural potential to significantly reduce hunger and poverty if the appropriate measures are implemented.

He maintained that a Nigeria free from widespread hunger and mass poverty remains achievable if leaders place the welfare and livelihoods of citizens at the centre of national decision-making.

The statement follows a recent United Nations warning that worsening hunger in Northern Nigeria is being fuelled by insecurity, which continues to prevent farmers from accessing their farmlands and has created conditions that armed groups exploit to recruit vulnerable people.

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Tinubu’s Adviser Masari Bags International Leadership Award, Receives US Congressional Commendation

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President Bola Tinubu’s Special Adviser on Political and Other Matters, Alhaji Ibrahim Kabiru Masari, has received international recognition for his contributions to public service, leadership and good governance after emerging as one of the recipients at the 16th African Business Leadership Awards (ABLA) held in London, United Kingdom.

Masari was honoured for his exemplary leadership, distinguished public service and sustained contributions to governance and sustainable development during the prestigious event organised by the African Leadership Organisation under the auspices of the African Leadership Magazine.

SEE ALSO: ‘Tinubu’s Gov’t is Held Hostage by Fraudsters’ – Atiku Declares

The annual summit attracted African presidents, governors, ministers, policymakers, business executives, development partners and academics to celebrate outstanding leadership while promoting dialogue on Africa’s economic transformation, innovation, investment and sustainable development.

In addition to the ABLA honour, Masari also received a Special Congressional Commendation from the South Carolina House of Representatives in the United States in recognition of his contributions to public service and leadership.

Organisers said the dual honours reflect growing international recognition of Masari’s commitment to good governance, accountability and nation-building.

As Special Adviser to President Tinubu on Political and Other Matters, Masari has been instrumental in providing strategic political counsel, fostering dialogue among stakeholders and supporting initiatives aimed at strengthening national cohesion and Nigeria’s democratic process.

Reacting to the recognition, Engr. Abdullahi Garba Ramat, PhD, described the awards as a fitting tribute to Masari’s years of dedicated service, integrity and commitment to national development.

Ramat said Masari’s leadership style, characterised by humility, accessibility and commitment to public service, has earned him widespread respect across political, ethnic and social divides.

According to him, the presidential adviser has remained steadfast in supporting President Tinubu’s administration through strategic engagement, loyalty and dedication to advancing the government’s policies and programmes.

He also commended Masari for his humanitarian interventions, support for education, youth mentorship and community development, noting that his philanthropic efforts have positively impacted many lives across Nigeria.

“His recognition is not just an award but a validation of a lifetime devoted to integrity, patriotism, compassion and selfless service to humanity,” Ramat said.

Other prominent African leaders honoured at the ceremony included Yobe State Governor Mai Mala Buni, Imo State Governor Hope Uzodimma, Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), Prof. Mojisola Christianah Adeyeye, Governor of the Bank of Sierra Leone Henry Falla Saamoi, and President of the ECOWAS Bank for Investment and Development (EBID), Dr. George Agyekum Donkor.

The event was attended by several notable personalities, including former Tanzanian President Jakaya Mrisho Kikwete and the Executive Secretary of the Petroleum Technology Development Fund (PTDF), Prof. Shehu Aliyu, alongside other African leaders and development experts.

Congratulating Masari on the honours, Ramat expressed confidence that the international recognition would further inspire him to continue serving Nigeria with dedication while promoting unity, peace and national development.

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Nigeria’s IEA Membership Tickles Minister

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The International Energy Agency (IEA) has admitted Nigeria as an Association country.

The development, Biztellers reports has been well received by the Nigerian authorities led the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, who described it as a major milestone that will strengthen the country’s role in global energy governance while supporting its drive for universal energy access, industrialisation and sustainable development.

Ekpo’s positive sentiments were expressed in a statement on Thursday by his spokesman, Louis Ibah, who noted that the unanimous decision of the IEA Governing Board to admit Nigeria reflects the country’s increasing strategic importance in the global energy sector.

The minister said Nigeria’s membership would open new opportunities for collaboration with the world’s leading energy body, giving the country greater access to global expertise, research, policy guidance and investment partnerships needed to transform its energy sector.

ALSO READ: Tanzania, Dangote Group Explore Multi-Billion-Dollar Investments in Infrastructure, Energy, Fertiliser

“I am elated by the decision of the IEA Members to officially welcome Nigeria to the IEA Family as an Association country.

“It is an honour for Nigeria to join this leading energy agency. I also encourage other African countries to deepen their engagement with the IEA as we work together to achieve key development goals, including universal energy access and industrialisation”, Ekpo said.

According to him, the partnership will strengthen cooperation in critical areas such as energy security, gas development, investment mobilisation, electricity access and sustainable energy solutions, while supporting Nigeria’s efforts to build a more resilient, competitive and inclusive energy sector.

The minister noted that Nigeria’s admission comes at a critical period when the country is pursuing reforms aimed at expanding domestic gas utilisation, increasing electricity access, attracting investment and driving industrial growth through improved energy infrastructure.

Nigeria is the latest nation to join the IEA’s Association programme, which brings together major energy-producing and energy-consuming countries to promote secure, affordable and sustainable energy systems.

With Nigeria’s admission, the IEA Family now represents more than 80 per cent of global energy demand, a significant increase from the 40 per cent it accounted for when the Association programme was launched in 2015.

Welcoming Nigeria into the organisation, IEA Executive Director, Fatih Birol, described the country’s admission as a significant achievement for both the Agency and the global energy community.

“I am thrilled that Nigeria is joining the IEA. It is Africa’s most populous country and a major international energy player. Nigeria becoming part of the world’s energy authority marks an important advance in global energy governance,” Birol said.

He expressed appreciation to President Bola Ahmed Tinubu and Minister Ekpo for their confidence in the Agency, saying stronger cooperation would help Nigeria improve energy security, accelerate economic growth and expand access to electricity and clean cooking solutions.

Birol added that the partnership would also support broader efforts to build more resilient and sustainable energy systems while addressing key development challenges.

The IEA acknowledged Nigeria’s growing influence in international energy markets, particularly following recent developments in the country’s refining sector.

According to the Agency, increased fuel exports from Nigeria during periods of global market disruption helped improve the resilience of fuel supply across Africa and other international markets.

It also recognised Nigeria as one of the world’s fastest-growing markets for decentralised solar energy, noting the country’s ongoing efforts to expand electricity access and promote clean cooking solutions for millions of households.

The Agency said Nigeria’s admission builds on more than a decade of cooperation that began in 2014 and will deepen collaboration in strategic areas, including energy security, clean energy transition, methane emissions reduction, electricity access and wider energy sector development.

Reaffirming Nigeria’s commitment to international cooperation, Ekpo said the country’s admission into the IEA underscores its growing relevance in shaping global energy policy and reflects its determination to work with development partners to strengthen energy security, expand access to affordable energy and build a sustainable future.

He expressed optimism that the new partnership would accelerate Nigeria’s energy transformation agenda while creating fresh opportunities for investment, innovation and inclusive economic growth.

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