[UPDATED] Breaking: Buhari defends naira policy, returns old N200 notes into circulation - Newstrends
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[UPDATED] Breaking: Buhari defends naira policy, returns old N200 notes into circulation

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President Muhammadu Buhari

President Muhammadu Buhari has extended the validity of the old N200 notes till April 10, 2023.

The president announced this in a national broadcast on Thursday Monday.

“I am addressing you as your democratically elected president to sympathise with you over the hardship being experienced as a result of the naira redesign policy.”

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“To further ease the supply pressures particularly to our citizens, I have given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from February 10, 2023 to April 10 2023 when the old N200 notes ceases to be legal tender.”

“17. In line with Section 20(3) of the CBN Act 2007, all existing old N1000 and N500 notes remain redeemable at the CBN and designated points.
“Considering the health of our economy and the legacy we must bequeath to the next administration and future generations of Nigerians, I admonish every citizen to strive harder to make their deposits by taking advantage of the platforms and windows being provided by the CBN.”

Nigerians have been battling with the scarcity of new naira notes— a development that has led to queues at banking halls, and automated teller machine (ATM) points.

Read President Buhari’s Full Address Here

My Dear Compatriots,

I have found it necessary to address you today, on the state of the nation and to render account on the efforts of our administration to sustain and strengthen our economy, enhance the fight against corruption and sustain our gains in the fight against terrorism and insecurity which has, undoubtedly, been impacted by several internal and external factors.

2.      Particularly, I am addressing you, as your democratically elected President, to identify with you and express my sympathy, over the difficulties being experienced as we continue the implementation of new monetary policies, aimed at boosting our economy and tightening of the loopholes associated with money laundering.

3.      Let me re-assure Nigerians, that strengthening our economy, enhancing security and blockage of leakages associated with illicit financial flows remain top priority of our administration. And I shall remain committed to my oath of protecting and advancing the interest of Nigerians and the nation, at all times.   

4.      In the last quarter of 2022, I authorised the Central Bank of Nigeria (CBN) to redesign the N200, N500, and N1000 Nigerian banknotes.

5.      For a smooth transition, I similarly approved that the redesigned banknotes should circulate concurrently with the old bank notes, till  31 January 2023, before the old notes, cease to be legal tender.

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6.      In appreciation of the systemic and human difficulties encountered during implementation and in response to the appeal of all citizens, an extension of ten days was authorized till 10th February, 2023 for the completion of the process. All these activities are being carried out within the ambit of the Constitution, the relevant law under the CBN Act 2007 and in line with global best practices.

7.      Fellow citizens, while I seek your understanding and patience during this transient phase of implementation, I feel obliged to avail you a few critical points underpinning the policy decision. These include:

a.           The need to restore the statutory ability of the CBN to keep a firm control over money in circulation. In 2015 when this administration commenced its first term, Currency-in-Circulation was only N1.4trillion.

b.           The proportion of currency outside banks grew from 78%in 2015 to 85% in 2022. As of October 2022, therefore, currency in circulation had risen to N3.23 trillion; out of which only N500 billion was within the Banking System while N2.7 trillion remained  permanently outside the system; thereby distorting the financial policy and efficient management of inflation;

c.           The huge volume of Bank Notes outside the banking system has proven to be practically unavailable for economic activities and by implication, retard the attainment of potential economic growth;

d.           Economic growth projections make it imperative for  government to aim at expanding financial inclusion in the country by reducing the number of the unbanked population; and

e.           Given the prevailing security situation across the country, which keeps improving, it also becomes compelling for government to deepen its continuing support for security agencies to successfully combat banditry and ransom-taking in Nigeria

8.      Notwithstanding the initial setbacks experienced, the evaluation and feedback mechanism set up has revealed that  gains have emerged from the policy initiative.

9.      I have been reliably informed that  since the commencement of this program, about N2.1 trillion out of the banknotes previously held  outside the banking system, had been successfully retrieved.

10.    This represents about 80% of such funds. In the short to medium and long terms, therefore, it is expected that there would be:

a.   A strengthening of our macro economic parameters;

b.   Reduction of broad money supply leading to a deceleration of the velocity of money in the economy which should result in less pressures on domestic prices;

c.   Lowering of Inflation as a result of the accompanying decline in money supply that will slow the pace of inflation;

d.   Collapse of Illegal Economic Activities which would help to stem corruption and acquisition of money through illegal ways;

e.   Exchange Rate stability;

f.     Availability of Easy Loans and lowering of interest rates; and

g.   Greater visibility and transparency of our financial actions translating to efficient enforcement of our anti- money laundering legislations.

11.    I am not unaware of the obstacles placed on the path of innocent Nigerians by unscrupulous officials in the banking industry, entrusted with the process of implementation of the new monetary policy. I am deeply pained and sincerely sympathise with you all, over these unintended outcomes.

12.    To stem this tide, I have directed the CBN to deploy all legitimate resources and legal means to ensure that our citizens  are adequately educated on the policy;  enjoy easy access to cash withdrawal through availability of appropriate amount of currency; and ability to make deposits.

13.    I have similarly directed that the CBN should intensify collaboration with anti-corruption agencies, so as to ensure that any institution or person(s) found to have impeded or sabotaged the implementation should be made to bear the full weight of the law.

14.    During the extended phase of the deadline for currency swap, I listened to invaluable pieces of advice from well meaning citizens and institutions across the nation.

15.    I similarly consulted widely with representatives of the State Governors as well as the Council of State. Above all, as an administration that respects the rule of law, I have also noted that the subject matter is before the courts of our land and some pronouncements have been made.

16.    To further ease the supply pressures particularly to our citizens, I have given approval to the CBN that the old N200 bank notes be released back into circulation and that it should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from February 10, 2023 to April 10 2023 when the old N200 notes ceases to be legal tender.

17.    In line with Section 20(3) of the CBN Act 2007, all existing old N1000 and N500 notes remain redeemable at the CBN and designated points.

18.    Considering the health of our economy and the legacy we must bequeath to the next administration and future generations of Nigerians, I admonish every citizen to strive harder to make their deposits by taking advantage of the platforms and windows being provided by the CBN.

19.    Let me assure Nigerians that our administration will continue to assess the implementation with a view to ensuring that Nigerians are not unnecessarily burdened. In this regard, the CBN shall  ensure that new notes become more available and accessible to our citizens through the banks.

20.    I wish to once more appeal for your understanding till we overcome this difficult transient phase within the shortest possible time.

21.    Fellow citizens, on the 25th of February, 2023 the nation would be electing a new President and National Assembly members. I am aware that this new monetary policy has also contributed immensely to the minimization of the influence of money in politics.

22.    This is a positive departure from the past and represents a bold legacy step by this administration, towards laying a strong foundation for free and fair elections.

23.    I urge every citizen therefore, to go out to vote for their candidates of choice without fear, because security shall be provided and your vote shall count.

24.    I however admonish you to eschew violence and avoid actions capable of disrupting the electoral processes. I wish us all a successful General Elections.

Thank you for listening. God bless the Federal Republic of Nigeria.

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School Shooting: 14-Year-Old Student Kills Grandparents, 6 at Nonthaburi School

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School Shooting: 14-Year-Old Student Kills Grandparents, 6 at Nonthaburi School
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School Shooting: 14-Year-Old Student Kills Grandparents, 6 at Nonthaburi School

14-year-old student carried out a deadly shooting at a school on the outskirts of Bangkok on Friday, killing his grandparents at home before opening fire at Debsirin Nonthaburi School in Nonthaburi province and later taking his own life . The attack, which police described as Thailand’s deadliest mass killing since 2022, left at least eight people dead and 15 others wounded . The suspected shooter, a Grade 9 (Mathayom 3) student at the school, first shot both his grandparents at their home in Bang Bua Thong district before arriving at the school premises, and the 9mm handgun used in the attack was legally registered to his grandfather, a former teacher . Police said the teenager fired at least 26 rounds during the rampage and was found with 34 additional ammunition rounds on his person .

The shooting began around 10 a.m. local time when the student, wearing a purple tracksuit, opened fire inside the school’s main building, and he reportedly barricaded himself on the third floor and was eventually found dead from a self-inflicted gunshot to the right side of the head . Police spokesperson Trairong Phophan confirmed the suspected shooter was among those killed at the school . Fatalities at the school included five teachers and school staff — three teachers and two other staff members — along with at least one student, according to police, and reports indicate six people died at the school in addition to the gunman . The injured included 15 people, some with gunshot wounds to the back, chest, and arms, with several reported in critical condition .

Emergency worker Kiatikhun Verapongpradith, 47, described arriving at the scene as the shooting was still ongoing, and his team treated students with injuries to their backs, chests, and arms . On an upper floor, they found a male teacher lying dead, and in a separate room, a female teacher with wounds to her chest and arm . After hearing a final gunshot, responders rushed upstairs and found the suspect had shot himself, and Kiatikhun said, “We rushed up and found that the perpetrator had shot himself in the right side of the head and collapsed. When we got up there, we checked his pulse, he still had one, so we started CPR” . The suspect was transported to the hospital, where he later died .

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Witnesses described scenes of chaos and panic as students fled from classrooms, and an 18-year-old student told Reuters he initially mistook the gunshots for firecrackers or someone banging an object, saying, “I didn’t think it was a gun at first. There were many shots: bang bang bang. Then it went quiet. Then it started again” . Emergency workers evacuated students and teachers as police secured the area . Police earlier warned people to stay away from the area and urged those trapped inside the school to hide and wait for rescue teams, and at one point, police warned on social media that the shooter was in the school’s computer room .

The school, a local branch of the renowned Debsirin School founded in Bangkok in 1885 by King Chulalongkorn, is widely associated with educational prestige and has produced many prominent Thai figures, including diplomats, athletes, and several former prime ministers . The Nonthaburi branch had an enrollment of approximately 3,100 students and 147 teachers during the 2025 academic year, and all classes have been suspended following the attack .

Thai Prime Minister Anutin Charnvirakul, who visited the scene, expressed deep condolences to the victims’ families and said, “This is terrible for something like this to happen. I’m sad for those who died and sad for something like this to happen in our country” . He noted that the boy had shown signs of academic stress and that his grandparents were reportedly very strict about his studies . Police investigating the suspect’s computer reportedly found that he had searched for and studied an American school shooting case prior to the attack, and a friend of the gunman confirmed he was under great pressure recently and had made thorough preparations .

The attack is the second school shooting in Thailand this year, following a February incident in the south of the country that left a teacher dead and a student injured . Thailand has one of the highest rates of civilian gun ownership in Southeast Asia, and according to a 2017 estimate by the Small Arms Survey, the country has approximately 10.3 million firearms in civilian hands — about 15 guns per 100 residents . Of these, a little more than 6 million are registered, while about 4 million are unregistered, and illegal possession of firearms carries up to 10 years in prison, but enforcement has been a persistent challenge .

Within hours of the shooting, Prime Minister Anutin vowed to introduce a new firearms control law to restrict the carrying of firearms by the public, telling reporters, “The new law will only allow government officials on duty to carry guns” . Thailand currently has separate licenses for owning and carrying firearms, and its licensing regime lacks mental health screening for applicants, allows people as young as 20 to hold weapons, and does not require periodic reassessments for licence holders . Piyaporn Tunneekul, an associate professor at Nakhon Pathom Rajabhat University, said, “We only look at things like: Do you have money? Do you have a necessary reason to protect your property? Do you want it for self-defence? But in other countries, authorities say those are not good reasons. We need intervention, a process like other countries have. There are red-flag laws abroad. So these events repeat, but the state does nothing” . Mass shootings have regularly occurred in Thailand, including a 2022 attack in the northeast that killed 36 people, among them 22 children at a daycare centre .

School Shooting: 14-Year-Old Student Kills Grandparents, 6 at Nonthaburi School

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Lagos Needs 80,000 More Health Workers to Avert Crisis – Sanwo-Olu Raises Alarm

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Lagos State Governor Babajide Sanwo-Olu

Lagos Needs 80,000 More Health Workers to Avert Crisis – Sanwo-Olu Raises Alarm

Lagos State Governor Babajide Sanwo-Olu has raised an urgent alarm over the state’s healthcare workforce crisis, revealing that Lagos requires approximately 40,000 additional doctors and another 40,000 nurses to adequately meet the healthcare needs of its rapidly growing population. The governor made this disclosure on Thursday at the opening of the second Eko Health Convention held at the Oriental Hotel, Victoria Island, Lagos. According to Sanwo-Olu, Lagos currently has only about 7,000 doctors in its workforce, a figure far below what is required to serve the state’s population, and he painted a stark picture of the current situation, stating that every doctor practising in Lagos today is effectively doing the work of ten people.

Beyond the severe manpower shortage, the governor identified inadequate funding as the second major challenge confronting the state’s health sector, disclosing a funding gap of at least N100 billion between what the state’s health budget provides and what the system genuinely requires. Sanwo-Olu also warned that donor financing, which has supported disease control programmes for nearly two decades, is contracting sharply and is unlikely to return in its old form, and this declining external support has further compounded the pressure on government resources.

Despite the workforce and funding challenges, the Federal Ministry of Health’s Q1 2026 health sector performance report showed Lagos recorded the highest skilled birth attendance rate in the country at 100 per cent, a significant achievement that underscores the state’s commitment to maternal health. However, the state also recorded 50 maternal deaths in the first quarter of 2026, up from 26 in the previous quarter, as well as the country’s highest neonatal death toll at 231, an increase from 127 in Q4 2025. The scorecard attributed the bulk of the state’s neonatal mortality reports to Lagos Island and Ikorodu local government areas, highlighting the need for targeted interventions in these communities. The report also showed Lagos spent N180.99 billion on health in 2025 out of a N216.71 billion budget, the highest health expenditure by any state during the period, reflecting the administration’s prioritisation of healthcare despite resource constraints.

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In response to the crisis, Sanwo-Olu said the state government has begun implementing measures to address the workforce deficit, including aggressive recruitment drives, improved welfare packages, provision of accommodation for health workers, and plans to establish a University of Medicine and Health Sciences to expand training capacity. According to the governor, the government recently opened clinical recruitment across all 29 secondary healthcare facilities in the state, and he emphasised that the administration is improving conditions to slow the departures and, increasingly, to attract colleagues back. The governor further stressed that Lagos was moving from delivering healthcare projects to building enduring systems that would guarantee quality, accessible, and affordable healthcare for generations, stating that access without excellence is merely a queue in a clinic within walking distance where the drugs have run out, while excellence without access is a showpiece that a mother in Ajegunle will never enter, and Lagos is not interested in either option.

On health insurance, the governor announced that enrollment under the state’s Ilera Eko health insurance scheme has exceeded 1.5 million residents, with the figure standing at 1,502,994 as of the end of May 2026, and women account for more than half of the beneficiaries with 54 per cent female and 46 per cent male, while residents aged 18 to 60 account for more than 62 per cent of enrollees. The governor noted that utilisation is rising, which indicates that coverage is translating into actual care and not merely into cards in wallets. He also disclosed that the Lagos State Health Management Agency’s Assistance in Distress programme has saved 18 lives since it became operational in March, providing emergency care to victims of road traffic injuries, obstetric crises, strokes, and surgical emergencies regardless of their ability to pay. In an emergency, the governor affirmed, a Lagosian should be stabilised first and asked about payment afterwards, reinforcing the administration’s commitment to compassionate healthcare delivery.

Sanwo-Olu further revealed that the state is leveraging technology through the Lagos Smart Health Information Platform, a digital health information exchange system being implemented across public health institutions, and the platform has reached about 30 per cent implementation covering general hospitals, teaching hospitals, and more than 300 primary healthcare facilities. The platform will enable seamless access to patients’ medical records, improve disease surveillance, and support evidence-based health planning, and the governor explained that when the record travels, the clinician sees the whole patient, and when the data comes together, the policymaker sees the whole city, allowing the system to move from reacting to anticipating. The government is also investing in artificial intelligence and other digital innovations to strengthen diagnosis, medical imaging, and healthcare delivery, and according to the governor, the state recently launched a Digital Health Innovation Challenge to encourage innovators to develop technology-driven solutions for health insurance, emergency response, sickle cell management, neonatal care, and medical research.

Speaking on healthcare infrastructure, Sanwo-Olu highlighted ongoing investments in new general hospitals, climate-smart primary health centres, a children’s hospital, and a mental institute at Ketu-Ejirin, and he also reiterated the government’s zero tolerance for quackery and substandard healthcare practices. The governor reaffirmed his administration’s long-term vision, stressing that ongoing reforms, including Ilera Eko, the health district system, and the digital health platform, are designed to outlive his tenure, and he declared that the administration has kept its promises and is now building the systems that will keep them long after the current leadership. Commissioner for Health, Prof. Akin Abayomi, reaffirmed the State Government’s commitment to building a more accessible, affordable, and efficient healthcare system, with plans to position the state as a leading medical tourism destination in Africa, and he reiterated that the state government remains committed to achieving universal health coverage for all residents.

Lagos Needs 80,000 More Health Workers to Avert Crisis – Sanwo-Olu Raises Alarm

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Tinubu Approves Recruitment of 3,252 Verified PTA Teachers into Federal Civil Service

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Tinubu Approves Recruitment of 3,252 Verified PTA Teachers into Federal Civil Service

Tinubu Approves Recruitment of 3,252 Verified PTA Teachers into Federal Civil Service

President Bola Ahmed Tinubu has approved the recruitment of 3,252 verified Parent-Teacher Association (PTA) teachers into the Federal Civil Service, a landmark decision that ends years of uncertainty for thousands of educators who have kept classrooms running in Federal Unity Colleges across Nigeria. The approval, announced on Thursday by Minister of Education Dr Tunji Alausa, represents one of the most significant interventions by the current administration to address the persistent shortage of teaching personnel in federal secondary schools. The Minister described the decision as a major milestone that reflects President Tinubu’s commitment to revitalising the education sector and investing in the country’s future through improved teaching and learning. According to the minister, priority will be given to absorbing verified PTA teachers, many of whom have served in Federal Unity Colleges and Federal Technical Colleges for nearly 25 years without being absorbed into the mainstream public service. “This is a President who cares deeply for Nigeria and for the future of our country,” Alausa stated. “The President has approved the recruitment of teachers. Priority will be given to absorbing verified PTA teachers, many of whom have served in our Federal Unity Colleges and Federal Technical Colleges for almost 25 years. This approval provides them with the opportunity to become part of the mainstream public service.”

Dr Alausa explained that the approval followed a comprehensive verification exercise conducted by an Inter-Ministerial Committee, which carefully screened eligible PTA teachers across Federal Unity Colleges nationwide. The exercise verified 3,252 teachers across the cadres of Education Officers, Assistant Education Officers and Technical Instructors, paving the way for their regularisation upon completion of all statutory requirements. The minister noted that the recruitment represents another milestone in the implementation of the administration’s Renewed Hope Agenda, stressing that it would significantly improve teacher-to-student ratios in Federal Unity Colleges while recognising the dedication of PTA teachers who have continued to serve despite years of uncertainty over their employment status. The minister added that integrating experienced PTA teachers into the federal public service would help preserve institutional knowledge, strengthen classroom instruction and improve learning outcomes across the colleges. He noted that the recruitment aligns with the Federal Government’s broader strategy to enhance teaching quality and restore Federal Unity Colleges as centres of academic excellence. Dr Alausa also reaffirmed the commitment of the Federal Ministry of Education to collaborate with relevant government agencies to complete the outstanding statutory procedures required for the issuance of final letters of appointment in line with existing public service regulations. He assured the verified PTA teachers that the ministry would ensure the regularisation exercise is concluded transparently, fairly and in strict compliance with due process and established public service rules.

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For many years, Federal Unity Colleges have relied heavily on PTA teachers engaged and paid by Parent-Teacher Associations to bridge chronic staffing gaps caused by inadequate recruitment into the federal teaching service. Many of these teachers have worked in the colleges for between 10 and 25 years without permanent appointments, despite performing the same classroom responsibilities as regular government-employed teachers, and without pension benefits or employment security available to regular civil servants. Successive administrations received appeals from the affected teachers and education stakeholders to regularise their appointments, arguing that the prolonged reliance on PTA-funded staff placed a financial burden on parents and created job insecurity for thousands of qualified teachers. The minister stressed that no education system can rise above the quality of its teachers, and that investing in teachers remains critical to building a stronger and more competitive education system. He commended the PTA teachers for their resilience and commitment to duty despite the uncertainty surrounding their employment status. The recruitment approval has been widely welcomed by education stakeholders and the affected teachers, who have long campaigned for regularisation of their appointments.

The recruitment of 3,252 PTA teachers into the Federal Civil Service represents a significant boost for the country’s education sector. By absorbing experienced educators who have already demonstrated their competence in the classroom, the Federal Government is taking a strategic approach to addressing the teacher shortage in Federal Unity Colleges. The move is expected to improve the quality of education in these institutions, reduce the financial burden on parents who have been funding PTA teachers, and provide job security and benefits for thousands of dedicated educators. The regularisation of these teachers also sets a precedent for addressing similar challenges in other sectors where contract or PTA-funded staff have been providing essential services without proper recognition or benefits.

Tinubu Approves Recruitment of 3,252 Verified PTA Teachers into Federal Civil Service

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