Barely 27 days to the deadline for people to exchange their old naira notes with the newly redesigned N200, N500 and N1,000 notes, banks are still dispensing old notes to their customers.
The situation currently causing some apprehension among bank customers in Nigeria is coming 20 days after the release of the just redesigned notes to the banks by the Central Bank of Nigeria.
Many Automated Teller Machines (ATMs) across the country are still dispensing the old notes.
Daily Sun also reported that the situation was not any different at the banking halls where old notes are being given out.
Indeed, its investigation revealed that bank customers across parts of Lagos (Ajah and Oshodi) are agitated that the new notes have remained out of reach.
They have therefore called on the Federal Government and the CBN to extend the deadline to allow adequate circulation of the notes.
The CBN Governor, Godwin Emefiele, had said the new notes would be circulated across the country by December 15, 2022.
The apex bank also set a deadline of January 31, 2023 for all the old N200, N500 and N1,000 notes to be withdrawn from the financial system and would cease to be legal tender.
Emefiele stated that the new notes had already been dispensed to the banks who would in turn dispense to their customers.
He also advised Nigerians to deposit the denominations to be redesigned to their various banks, saying that banks would be opened for operations from Monday to Saturday weekly.
New Naira Notes
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A countdown clock which is visible on the CBN’s website, shows January 31, 2023, as the deadline for the affected notes to cease as legal tender.
However, bank customers who used the ATMs in parts of Lagos, Abuja and other states of the federation during the holidays up until yesterday, after the Yuletide holidays complained that the ATMs were still dispensing only old notes and sceptical about the January 31, deadline, urging the apex bank to extend its date.
Mr Uchenna Madabuchi, a spare parts dealer at Oshodi, said, “When the CBN came out with the redesigned notes announcement, I knew there would be flaws as I told my friends, the notes would not circulate properly due to the ‘Nigerian factor’.
“I came to the ATM hoping to get new notes but it is still dispensing old notes. I hope the CBN is looking into this and I suggest they extend the deadline so that Nigerians, especially bank customers would have access to these notes.”
When Daily Sun visited one of the new generation banks at Ajah, it was discovered that the ATM was still dispensing old notes as well.
On inquiry as to why the situation had remained the same, an official of the bank noted that the ATMs might start dispensing the new notes at the end of January 2023, the deadline for the withdrawal of the old notes.
(Sun with minimal editing and new headline)
Kidnappers Kill Zamfara Teacher After Collecting ₦3m Ransom
A teacher, Malam Mustapha Yahaya Maru, who was abducted along the Anka Road in Zamfara State, has reportedly been killed by his captors despite his family paying a ₦3 million ransom to secure his freedom.
The tragic development was disclosed on Saturday by security analyst and journalist Bakatsine in a post on X.
According to him, Maru’s family paid the ransom in the hope of securing his release, but the kidnappers allegedly killed him nonetheless.
Bakatsine wrote: “SAD UPDATE: Malam Mustapha Yahaya Maru, a teacher from Maru who was abducted along Anka Road, has reportedly been killed by his captors despite his family paying ₦3 million ransom.
“A devastating reminder that paying ransom is no guarantee of survival. May Allah forgive him, grant him Jannatul Firdaus, and comfort his family and everyone mourning this tragic loss.”
Maru was abducted in May alongside some of his colleagues while returning to the Federal Government College (FGC), Anka, in Zamfara State.
Following the abduction, Bakatsine had disclosed that the teachers were seized by armed men along the Anka Road, a route that has witnessed repeated attacks by bandits operating in the state. He had appealed for prayers for the safe return of the victims amid the worsening security situation in Zamfara.
The reported killing has further highlighted the growing insecurity in the North-West, where kidnappings for ransom have become frequent despite ongoing military operations against armed groups.
As of the time of filing this report, neither the Zamfara State Government nor security agencies had officially confirmed Maru’s death. Likewise, there was no official statement on the circumstances surrounding the alleged payment of the ransom or the fate of the other abducted victims.
Kidnappers Kill Zamfara Teacher After Collecting ₦3m Ransom
[VIDEO] Intelligence, not negotiation, secured release of Oyo abductees – Former DSS operative
A former operative of the Department of State Services (DSS), Dr. Seyi Adetayo, has revealed fresh details about the intelligence-led operation that culminated in the rescue of abducted pupils, teachers and caregivers from Oriire Local Government Area of Oyo State, saying the breakthrough was achieved through sophisticated intelligence gathering and coordinated security operations rather than negotiations with the kidnappers.
Speaking during an interview on TVC News, Adetayo claimed that security agencies mounted a carefully planned operation that focused on identifying and tracking the families, relatives and close associates of members of the terrorist group Ansarul, an Al-Qaeda-linked extremist organisation allegedly responsible for the abduction. He stressed that his account reflected his understanding of the operation and has not been independently confirmed in full by the Federal Government. (Trending News)
According to the former intelligence officer, the operation followed months of surveillance and strategic planning after the arrest of two senior Ansarul leaders in 2024. He identified the suspects as Abbas Mukhtar and Abubakar Abba, popularly known as Mamuda, whom he described as key figures within the terrorist network wanted by international authorities over terrorism-related offences.
Adetayo said the arrests intensified pressure on the terrorist organisation, prompting its members to allegedly orchestrate the mass abduction in a bid to compel the Federal Government to release the detained commanders.
He explained that the attackers deliberately chose Oyo State because of its proximity to forest corridors leading towards the Kainji axis while also believing that attacking schoolchildren in the South-West would generate widespread national and international attention.
“The President is from the South-West, so they believed an operation there would create enormous political pressure. These are organised international terrorist networks that spend months planning major attacks rather than acting impulsively,” he said.
Adetayo commended the Federal Government for rejecting negotiations with the kidnappers, arguing that yielding to the group’s demands would have undermined Nigeria’s counter-terrorism efforts and weakened international intelligence cooperation.
According to him, the rescue strategy relied heavily on intelligence, surveillance and technology because many of the victims were very young children, making a direct military assault extremely risky.
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“We are talking about children as young as two to four years old. This was never an operation that required indiscriminate use of force. It demanded patience, intelligence and careful operational planning,” he said.
He further claimed that security agencies identified and arrested the mothers, wives, children and close associates of some of the suspected kidnappers in several northern states before allegedly sending video evidence of the arrests to the terrorists.
According to Adetayo, the strategy was intended to increase pressure on the kidnappers and discourage them from harming the abducted victims. He alleged that the security agencies warned the terrorists that any harm inflicted on the captives would have serious consequences for their own families. These specific claims have not been independently confirmed by Nigerian security agencies.
The former DSS operative also disclosed that troops quickly surrounded the kidnappers before they could relocate the captives from the forests in Oyo State to their operational base around the Kainji forest, a development he described as critical to the success of the rescue mission.
Drawing comparisons with the 2014 Chibok schoolgirls’ abduction, Adetayo said Nigerian security agencies had applied lessons learned from previous mass kidnappings by responding rapidly to prevent the victims from being dispersed into multiple locations.
“If you compare it with Chibok, the response then was much slower. This time, security forces immediately launched coordinated operations, secured the surrounding forests and disrupted the terrorists’ communication channels before they could move the victims,” he added.
His comments came shortly after the successful rescue of the abducted pupils, teachers and caregivers who had spent about 56 days in captivity after being kidnapped from three schools in Oriire Local Government Area on May 15, 2026.
The Presidency has confirmed that the rescue was achieved through coordinated security operations involving multiple agencies. Presidential spokesman Bayo Onanuga said eight suspected kidnappers were arrested, several others were neutralised and no ransom was paid or prisoner exchange conducted despite demands by the kidnappers for the release of detained terrorist leaders. (Trending News)
Military authorities have also disclosed that the operation was intelligence-driven and involved the Nigerian Army, the Department of State Services (DSS), other security agencies, the Oyo State Security Network (Amotekun), local vigilantes and hunters, whose coordinated efforts dismantled the criminal network behind the abduction and secured the safe release of all the victims. (Tribune Online)
The rescue has been widely welcomed across Nigeria, with renewed calls for sustained intelligence-led operations, improved protection for schools and stronger collaboration among security agencies to prevent future attacks on educational institutions.
Appeal Court rejects former Accountant-General’s bail application in N868m fraud trial
The Court of Appeal in Abuja has refused to grant bail to former Acting Accountant-General of the Federation, Anamekwe Nwabuoku, pending the determination of his appeal against his conviction for fraud, money laundering and the diversion of N868.4 million in public funds.
The appellate court, in a unanimous decision delivered on Friday, dismissed Nwabuoku’s application for bail, ruling that it lacked merit. The three-member panel, led by Justice Adebukola Banjoko, held that the former public official failed to present sufficient grounds to justify his release while his appeal is awaiting determination.
The ruling represents another legal setback for Nwabuoku, who was convicted by the Federal High Court in Abuja on March 23, 2026, after being found guilty on a nine-count charge bordering on fraud and money laundering brought against him by the Economic and Financial Crimes Commission (EFCC).
Justice James Omotosho, who presided over the trial, held that the prosecution had successfully proved its case beyond reasonable doubt. The court subsequently convicted Nwabuoku on all nine counts and sentenced him to eight years’ imprisonment on each count, bringing the total sentence to 72 years. However, the judge ordered that the sentences should run concurrently, meaning the convict will serve the prison terms simultaneously rather than consecutively.
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Dissatisfied with the judgment, Nwabuoku, through his lawyer, Norrison Quakers (SAN), filed a notice of appeal on May 8, 2026, challenging both his conviction and sentence. He also asked the Court of Appeal to grant him bail pending the determination of the appeal.
In his application, the former Acting Accountant-General argued that his health had deteriorated significantly while in custody. He claimed that the medical facilities available at the University of Abuja Teaching Hospital, which provides healthcare services for inmates of the Kuje Correctional Centre, were inadequate to manage his condition and that he required specialised medical treatment outside the correctional facility.
The EFCC, however, opposed the application through a counter-affidavit filed by its counsel, Ekele Iheanacho (SAN). The anti-graft agency argued that the offences for which Nwabuoku was convicted involved the diversion of substantial public funds, undermining government efforts to tackle insecurity and deliver critical public services.
The commission further submitted that the applicant failed to provide credible medical evidence showing that his health condition could not be adequately managed within the existing correctional healthcare system.
According to the EFCC, records from the correctional authorities indicated that Nwabuoku had received regular medical attention and had not been denied access to healthcare whenever the need arose. The commission also maintained that the University of Abuja Teaching Hospital possesses the capacity to provide specialist care, including surgical procedures where necessary.
The anti-corruption agency argued that granting bail to a convict found guilty of large-scale corruption before the conclusion of his appeal would erode public confidence in Nigeria’s criminal justice system and weaken the country’s ongoing fight against corruption, money laundering and the misuse of public resources.
The EFCC further contended that releasing the former Acting Accountant-General at this stage could create the impression that high-profile corruption convicts receive preferential treatment, contrary to the principles of justice and accountability.
After reviewing the submissions of both parties, the Court of Appeal agreed with the prosecution and dismissed the bail application, holding that the applicant failed to establish exceptional circumstances required under the law to justify bail after conviction.
The substantive appeal challenging Nwabuoku’s conviction and sentence is expected to be heard by the Court of Appeal at a later date.
The case is one of several high-profile corruption prosecutions pursued by the EFCC as part of broader efforts to strengthen accountability in the management of public finances and deter financial crimes within Nigeria’s public service.
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