Other News
New naira: CBN Insists On Jan 31
President Muhammadu Buhari has emphasized that the plan to revamp the naira currency will not change and that the deadline for discontinuing the old N1,000, N500, and N200 notes will not be extended. He made this statement on Saturday
Despite calls from various groups, including state governors, the Nigerian Bar Association, the Arewa Consultative Forum, and bank customers, for a reconsideration of the deadline for the discontinuation of the old N1,000, N500, and N200 notes, the Central Bank of Nigeria has stated that the deadline will not be extended.
This aligns with the position of President Muhammadu Buhari, who has previously stated that there will be no changes to the plan to revamp the naira currency.
President Muhammadu Buhari emphasized that the planned revamp of the naira currency is not aimed at punishing innocent citizens, but rather at addressing corruption and the financing of terrorism by targeting individuals hoarding illicit funds.
He further reassured Nigerians that the government will take steps to minimize any disruptions to businesses and supply chains as a result of the planned revamp of the naira currency.
He also addressed reports of long queue for individuals depositing old notes and obtaining new ones. This statement was released by his Senior Special Assistant on Media and Publicity, Garba Shehu, on Saturday.
The statement was titled, ‘Government will eliminate squeeze, chaos in currency swap, President Buhari assures’.
The statement read in part, “While taking note that the poorest section of society is facing hardship as they often keep hard cash at home for various expenses, President Buhari gave strong assurances that the government would not leave them to their own fate.
“He reiterated that a number of initiatives by the central bank and all commercial banks are underway to speed up distribution of the new notes and do all that is necessary to forestall cash squeeze and chaos.”
The Central Bank of Nigeria (CBN) has reaffirmed that the deadline for the discontinuation of the old N200, N500, and N1000 notes remains January 31, 2023, citing a video of CBN Governor Godwin Emefiele from a recent Monetary Policy Committee meeting.
In the video, Emefiele had said after the MPC meeting, “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 on 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.”
Other News
Bayern Won’t Sell Olise Even for €200m — Rummenigge Drops Bombshell
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.
Other News
AFCON 2025 Drama: Morocco Defends CAF Ruling Amid Growing Controversy
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.
Other News
Inside Tinubu’s Closed-Door Meeting With Opposition Leaders – SDP, IPAC Reveal Details
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.





