Connect with us

Latest News

CBN To Sanction Banks With ATMs Without New Naira Notes

Published

on

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.

 

Read more authentic news on our social media platforms

Continue Reading
Click to comment

Latest News

Black Saturday As 10 Confirmed Dead, Others Injured In Abuja Church Stampede

Published

on

By John Michael Ojo

No less than ten individuals have been confirmed dead following a stampede which took place in an event organized by Holy Trinity Catholic Church, situated in the Maitama area of Abuja on Saturday morning.

It was stated that the church had intended to distribute rice as palliative to the people during the event before the tragedic incident took place.

While confirming the development, in a statement signed by the Abuja Police Command Force Spokesperson, SP Josephine Adeh, the Command said ten individuals died, while eight others sustained varying degrees of injuries.

The statement reads: “This tragic event, which happened at about 6:30 am, led to a stampede that claimed the lives of ten (10) individuals, including four (4) children, and left eight (8) others with varying degrees of injuries. Four (4) of the injured have been treated and discharged, while the remaining victims are receiving medical care.

‘’To prevent such unfortunate incidents in the future, the Command hereby directs that all organizations, religious bodies, groups, or individuals planning any public event, charitable activity, or large gathering in the FCT must notify the Police Command in advance. This will allow the deployment of adequate security measures to ensure public safety and prevent avoidable tragedies.

“Failure to comply with this directive will result in the organizers being held liable for any incident or loss of life resulting from their negligence.

’The FCT Police Command remains committed to safeguarding lives and property in the Territory. Members of the public are encouraged to collaborate with the Police by adhering to these guidelines and promptly reporting emergencies through the FCT Control Room via 0803 200 3913 or 0806 032 1234”

In a similar vein, an unspecified number of people mostly woman have reportedly lost their lives in Okija community of Anambra state in a stampede.

New Times gathered that the stampede was said to have occurred on Saturday morning during an event for the distribution of rice organized by Obi Jackson Foundation.

Saturday’s stampede comes barely 72 hours after a similar occurrence took place in a funfair event organized by a former queen of Ooni of Ife in Ibadan, Oyo State capital where nearly 40 children have been confirmed dead by the state authorities.

The repeated stampede is a testament to the current economic hardship being faced by the masses as a result of the economic policies of President Tinubu in recent times.

Continue Reading

Latest News

Ogun Information Ministry Defends N2b Budget Proposal, Pledges More Service 

Published

on

Kayode Akinmade at the defence of the budget proposal.

Ogun State Ministry of Information and Strategy says it will continue to deploy all communication strategies to serve all organs of government in the promotion of government policies and programmes through a two-way communication channel between the people and the government.

The Special Adviser to the State Governor on Media and Communications, Mr. Kayode Akinmade, gave the assurance on Friday, while defending the ministry’s budget proposal for next year before the members of the House Committee on Finance and Appropriation, led by Hon. Musefiu Lamidi at the Assembly Complex, Oke-Mosan, Abeokuta.

Akinmade reassured the Assembly that the ministry was cognisant of the principles of separation of powers, and would continue to render the necessary assistance to all arms of government in publicising their activities.

He noted that the next fiscal year would see to the utilisation of more strategies to mobilize the people for positive development, stressing that more reawakening of the people towards embracing the State’s core values alongside branding to leverage the successes achieved by the Prince Dapo Abiodun-led administration’s development projects would also be explored.

To this end, the ministry proposed a total budget expenditure of N2.023 billion for the next fiscal year, out of which N328 million would go for capital, N1.23 billion for overhead and the remaining N461million would take care of personnel.

Responding, the House Committee members sought more collaborative efforts from the ministry in mobilising the people towards government laudable policies and programmes.

Other agencies that had their budget proposals defended before the State lawmakers were the State Television (OGTV) and its State Broadcasting Corporation counterpart (OGBC), as well as the State Ministry of Culture and Tourism.

Continue Reading

Latest News

Yuletide: Abiodun Tasks New Police Commissioner On Security

Published

on

L-R: Deputy Commissioner of Police (Administration), Sagir Ismail; Ogun State Commissioner of Police, Lanre Ogunlowo; Governor Dapo Abiodun; Deputy Commissioner of Police (Operations), Bolanle Muritala, and the Deputy Commissioner of Police (CID), Bode Ojajuni, during the visit of Ogunlowo as the newly appointed Commissioner of Police to the Governor at his office, Oke-Mosan, Abeokuta, on Thursday.

Ogun State Governor, Prince Dapo Abiodun has called on security agencies to design and deploy workable strategies that would ensure adequate protection of life and property during this Christmas period.

The governor made the call when he received the new Commissioner of Police, Ogun State Command, Mr. Lanre Ogunlowo, who paid him a courtesy call in his office at Oke-Mosan, Abeokuta.

Abiodun commended the security agencies for ensuring peace and tranquillity, noting, however, that unscrupulous people are bound to take advantage of the period to cause security breaches in the state.

He said: “As we approach the yuletide period, we all know that this period comes with its challenges. Those who are bent on carrying out nefarious activities, the get-rich-quick schemes, will also get a bit desperate, so I want to admonish you to please develop or design strategies to ensure that this yuletide period is peaceful for everyone, allowing us to celebrate and enjoy with our eyes closed and not have to worry about the breakdown of law and order.

“I want to enjoin your colleagues to please join hands with you the way they had cooperated with your predecessor so that together we can continue to build the future of Ogun State to achieve the future of our dreams.”

According to Abiodun, the state is unique in terms of geographical location as it shares borders with four states and an international border, noting that this has brought about an influx of people to work and attend educational institutions, thereby raising numerous security concerns for the government.

The governor, while informing the new State police chief about the steps taken to secure the State and its people, said his administration reinvigorated the State Security Trust Fund to provide modern equipment and logistics to the security agencies, noting that this had helped make Ogun one of the most peaceful states in the country.

He emphasized the importance of inter-agency synergy, which he said had contributed to the peace being enjoyed in the state.

Prince Abiodun maintained that the State’s position as number three in Internally Generated Revenue would not have been possible in an atmosphere of insecurity.

“Like they say, you cannot have any socio-economic development in an atmosphere of insecurity. You can build all the roads, all the airports and seaports, but if there is an atmosphere of insecurity, or even if there is a perception of insecurity, nobody will come to that State,” the governor noted.

The governor pointed out the issue of cultism, which is prevalent in some parts of the state, urging the new police chief to liaise with his colleagues from other agencies to find a final solution to it.

Governor Abiodun commended the Inspector General of Police (IGP) for deploying a highly intelligent and professionally sound officer to the state and equipping him with two Armoured Personnel Carriers, adding that the new CP’s practical training and qualifications have prepared him for the position.

“I want to thank the Inspector General of Police who has found you worthy of this deployment. I want to thank him because he remains one of our proud illustrious sons who has not let us down. Ogun State is known for exporting such human capital, and he is one of those we exported to the federal government, and he is up to our expectations,” he added.

While pledging to do all it takes to keep the State peaceful, the State helmsman assured that his administration would continue to support the State Police Command and other security agencies to maintain peace and order across the State at all times.

Speaking earlier, the new Commissioner of Police, Mr. Lanre Ogunlowo, said he is in the State to add value to what he met on the ground, assuring that with the support of the state government, cooperation from sister security agencies, and the additional Armoured Personnel Carriers given by the Inspector General of Police, he would work to secure the people and gain their trust.

“I had the privilege of working in the tactical intelligence unit of the Nigeria Police Force in the past, and I have a good understanding of the situation regarding cultism. As I mentioned when the governor was speaking to me, the Inspector General of Police graciously approved logistics, including Armoured Personnel Carriers (APCs), for Ogun State when I was coming. They would soon be here.

“I have a good team on the ground. As I said, I will improve on what I met on the ground. Before I left yesterday, I had a conversation with our anti-cultism unit, and we have some strategies in place.

“What I can assure you is that we will do all that is needed to address this issue, especially at a time like this. We will engage all stakeholders; we know we can’t do it alone, but we’ve got the wherewithal to deal with it,” he said.

Ogunlowo pleaded with the people to support the police and other security agencies in achieving their mandates, adding, “Let’s enjoy the season, let’s be careful, let’s respect the rights of others. We want peace; criminals should stay away and let the people of Ogun State enjoy the moment. We will be on the ground for that.”

Continue Reading

Top Stories