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CBN To Sanction Banks With ATMs Without New Naira Notes



CBN To Sanction Banks With ATMs Without New Naira Not

Twelve days ahead of the January 31, 2023 deadline for the old N200, N500 and N1,000 notes to cease to be legal tender, the Central Bank of Nigeria (CBN) has urged Nigerians to report banks that fail to load their Automated Teller Machines (ATMs) with the newly redesigned notes.

The apex bank vowed to begin to sanction banks that fail to comply with the directive.

At a sensitisation event at the popular Computer Village market in Ikeja, Lagos yesterday, the director, Legal Services department of the apex bank, Mr. Kofo Salam-Alada, who represented the CBN governor, Godwin Emefiele, also emphasised that, the January 31 deadline for the old notes to cease to  be legal tender remains sacrosanct.

READ ALSO: Deputy CBN Governor Admits Not Knowing Quantity Of New Naira Notes Printed, In Circulation

Salam-Alada, While noting that he had gone round to some ATMs in Lagos and discovered that some were still dispensing old notes,Salam-Alada, said the apex bank would soon announce sanctions for banks that fail to comply with the directive to load up and dispense the new notes through their ATMs.

Noting that there was more than enough of new notes to go round, he stated that, the shortage of the new notes in circulation was due to the failure of banks to collect the redesigned N200, N500 and N1,000 notes from the vault of the CBN.

“I can tell you today that the CBN, on a daily basis, issues out the new notes. As we speak, banks are with the CBN taking money. We are actually begging banks to come and take money from the central bank.  We have these new naira notes in our vaults and we are begging banks to come and take them.

“We found out that a lot of things are happening that we need to checkmates, so we stopped  withdrawal of new notes over the counter to ensure  that everyone can have access to new notes and not one chief who is known to the manager walks in and  carts away all the new notes in a particular branch. That is why we said it should be in the ATMs which cannot distinguish people,” he said.

He added that, “what we are experiencing now will actually ease up very soon, because  the banks now know that there will be penalty for failure to come and pick money from the CBN and failure to dispense through the ATM. Tell your members that if they  have problems accessing the new naira notes, they can call the CBN to report,” he stated.

Salam-Alada, while reacting to questions from traders in the market that some are selling the new notes, stressed that, anyone caught selling the new notes or any denomination of the naira will face the full wrath of the law in the form of jailtime.

READ ALSO: New Naira Notes Now In Banks For Issuance – CBN

Speaking on the new notes, the president of the Coalition of Associations in Computer Village, Timi Davies, noted that, the production of the new naira notes is a good initiative “but unfortunately the new notes is not well circulated within our market. The ATM machines are not dispensing the new notes and only a few privileged ones seem to be having access to the new notes.

“We want to encourage the CBN and the government to enforce the deadline on the banks. There should be no bank that should not be giving the new naira from their ATM. All ATM should load the new notes. As we are giving the old notes we should be able to get the new notes. If the ATMs are not dispensing, the new notes will not flow around.”

On his part, the Olukosi of Ikeja Land, Chief Lateef Oluseyi, assured CBN of support of the traditional ruling house in educating the community.

Meanwhile, the CBN director dispelled rumors that the new naira was not durable demonstrating that the new notes do not wash off as many had claimed.

He also assured that the new note which, he said, has more than 35 security features is not East for counterfeiters to make, thus reducing the incidence of fake notes.


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BREAKING: Abacha’s Ex-chief Of Staff Oladipo Diya Dies




Retired Lt.General Donaldson Oladipo Oyeyinka Diya, the former Chief of Staff in General Sani Abacha’s military government, is dead.

His death was confirmed by Prince Oyesinmilola Diya. He said the former military administrator of Ogun State passed on to glory in the early hours of 26th March 2023.

Born on the 3rd of April, 1944, Diya was military Governor of Ogun State after the Buhari-Idiagbon coup of December 31st, 1983.

Diya joined the Nigerian Defence Academy, Kaduna and fought during the Nigerian Civil War.

He later attended the US Army School of Infantry, the Command and Staff College, Jaji (1980–1981) and the National Institute for Policy and Strategic Studies, Kuru.

While serving in the military, Diya studied law at Ahmadu Bello University, Zaria, where he obtained an LLB degree, and then at the Nigerian Law School, where he was called to bar as Solicitor and Advocate of the Supreme Court of Nigeria.

He held other top military posts like GOC, 82 Division and finally the Chief of General Staff (military Vice President) to Gen Sani Abacha

The statement read: “On behalf of the entire Diya family home and abroad; we announce the passing on to Glory of our dear Husband,Father, Grandfather,brother, Lt- General Donaldson Oladipo Oyeyinka Diya (Rtd) GCON, LLB, BL, PSC, FSS, mni.

“Our dear Daddy passed onto glory in the early hours of 26th March 2023. Please keep us in your prayers as we mourn his demise in this period. Further announcements will be made public in due course.

“Barrister Prince Oyesinmilola Diya, on behalf of the family.”

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Breaking: Appeal Court Retains Adeleke As Osun Governor



BREAKING: Adeleke Freezes Osun Accounts , Reverses Appointments After Swearing In As Governor
Governor Adeleke

The Court of Appeal sitting in Abuja has vacated the tribunal judgement that nullified the election of Governor Ademola Adeleke of Osun State.

The appellate court, in a unanimous decision by a three-member panel of Justices, on Friday held that the appeal Adeleke lodged to challenge his sack by the Osun State Governorship Election Petition Tribunal, was meritorious.

Aside from setting aside the judgement of the tribunal, the court, in its lead judgement that was delivered by Justice Mohammed Lawal, awarded N500, 000 cost against the All Progressive Congress, APC, and its candidate, Gboyega Oyetola

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BREAKING: PDP Suspends Anyim, Fayose



Anyim and Fayose

Former governor of Ekiti State, Ayodele Fayose; former president of the Senate, Pius Anyim; Prof Dennis Ityavyar and Aslam Aliyu were on Thursday suspended from the Peoples’ Democratic Party (PDP).

The PDP made the suspension on Thursday after an extensive review of the affairs of the party, pursuant to the provisions of the PDP Constitution (as amended in 2017).

The PDP also referred the Governor of Benue State, Samuel Ortom, to the National Disciplinary Committee over his reported involvement in anti-party activities.

This was disclosed in a statement signed by the National Publicity Secretary, Debo Ologunagba.

“The PDP urges all leaders, critical stakeholders and teeming members of our party across the country to remain united and focused at this critical time,” the statement added.


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