Naira Redesign: Confusion as CBN keeps mum 72 hours after S’Court’s ruling - Newstrends
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Naira Redesign: Confusion as CBN keeps mum 72 hours after S’Court’s ruling

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Seventy two hours after the Supreme Court’s weekend ruling, the Central Bank of Nigeria (CBN) is yet to react or affirm the validity of the old N500 and N1000 as legal tender.

The Supreme Court had on Friday ruled that the old N200, N500 and N1000 will remain valid as nation’s legal tender till December 31, 2023.

The apex court had earlier ordered the Federal Government to allow the old and new Naira notes co-circulate  after the CBN’s February 10 deadline.

On the back of the ruling 16 Nigerian state governors pushed back against the policy, by suing the Federal Government and praying  the court to put a hold on the policy.

The Supreme Court then ruled in favour of the governors by stopping the government from implementing the February 10 deadline. But there was uncertainty over whether the court had jurisdiction, as there were also questions on whether the CBN, an independent body, should obey the court’s judgment as it was not a party to the suit.

Eventually, the the Federal  Government implemented the deadline, only conceding that old N200 notes would remain legal tender for another 60 days.

In a national broadcast, President Muhammadu Buhari noted that N500 and N1000 has stopped being legal tender while adding that that the CBN undertook the currency redesign on his orders.

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The CBN later issued a statement affirming the invalidity of the old notes except for N200. A look at the apex bank’s website revealed that it remained silent on the apex court’s ruling, however, its portal for depositing the old N1000 and N500 notes remained open.

However, Nigerians are worried and wondering whether the CBN will comply with the Supreme’s court ruling or ignore it like it did the last time.

Investigations done by Daily Sun over the weekend revealed that business owners at areas like Ajah, Orile, Alaba insisted that they had lost a whole lot since the Naira scarcity started, adding that they would rather wait on the Federal Government or the CBN to release a statement backing up the ruling despite the court’s insistence that the currency redesign policy could not be handed down after a private conversation with the CBN governor.

Emeka Felix, a dealer in electronic gadgets, said, “It is enough that the system is bastardised and now the supreme court has come with this one. I do not think Nigeria knows what it is doing again. We are now the laughing stock of other nations. The government has failed us all. I am still going to stick to having money transferred to my account for transactions.

Also speaking, Eze Calistus, a driver, said he will not be taking old notes from passengers because these old notes have not been in circulation all these time.

For her part, Mrs Okolie Cynthia, a retailer, said, “According to the IMF, CBN’s rule exceeds that of the country and even the President and so Supreme Court’s ruling does not matter. It is pure propaganda and they did not rule this before the elections. But after the Presidential elections, they have now come to tell Nigerians that we can keep spending the old notes till December 31. Personally for me, I am rejecting the old notes. They used billions to print the new notes and now they are telling us this nonsense.

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If the Supreme Court ruling stood, then banks should notify us”

Meanwhile business operators in the Federal Capital Territory (FCT) Abuja, say they are anxious to hear from President Muhammadu Buhari and/or the Central Bank over validity of old Naira notes.

Reacting to the Supreme Court ruling that the old N500 and N1000 notes remained legal tender till Dec. 31, theysaid it was risky to accept the notes until directive from either the Presidency or the CBN, stressing their decision was borne out of the controversy that followed a similar Supreme Court pronouncement that was not adhered to.

A taxi driver, Mr Abubakar Umar, said he was hopeful that Buhari or the CBN Governor Godwin Emefiele would speak within the week on  whether or not they should go ahead to accept the old notes.

He said until such directive was given, he would insist that customers paid him only with new N500 or N1000 notes.

A petty trader, simply identified as Madam Uloma, also said she won’t accept the old notes, “until I hear from the horse’s mouth I will not collect the old notes”.

Uloma said she would not want to go through the stress she went through when the notes were declared invalid by the CBN.

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Senate Explains Why Real-Time E-Transmission Cannot Be Mandatory in 2027 Elections

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Senate plenary

Senate Explains Why Real-Time E-Transmission Cannot Be Mandatory in 2027 Elections

The Nigerian Senate has defended its decision to make electronic transmission of election results discretionary rather than mandatory in the ongoing amendment to the Electoral Bill 2026, insisting the move is grounded in data, infrastructure realities and legislative responsibility — not political sentiment.

The controversy centres on Clause 60(3) of the proposed amendment, which originally stated that a presiding officer “shall electronically transmit the results from each polling unit to the INEC Result Viewing Portal (IReV) in real time.”

After debate, lawmakers retained electronic transmission but removed the mandatory “real time” requirement, introducing a caveat that where internet connectivity fails, Form EC8A — the official manual result sheet — will serve as the primary basis for collation.


Senate: Decision Based on Empirical Data

Leader of the Senate, Opeyemi Bamidele, clarified the chamber’s position in a statement issued through his Directorate of Media and Public Affairs, stressing that lawmaking “comes with huge obligations globally” and cannot be driven by emotion.

According to Bamidele, the Senate consulted stakeholders in the telecommunications and energy sectors before revising the clause. He said the decision reflects the “stark realities” of Nigeria’s communications and power infrastructure.

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Key Data Cited by the Senate

  • Nigeria recorded about 70% broadband coverage in 2025, but actual internet penetration stood at roughly 44.53% of the population, according to figures from the Nigerian Communications Commission.
  • The Speedtest Global Index ranked Nigeria 85th out of 105 countries in mobile network reliability and 129th out of 150 countries in fixed broadband reliability.
  • In the power sector, approximately 85 million Nigerians lack access to grid electricity, representing about 43% of the population.
  • Although generation capacity fluctuates between 12,000 and 13,500 megawatts, only around 4,500 megawatts are typically delivered nationwide.

Bamidele argued that making real-time electronic transmission mandatory under such conditions could create operational bottlenecks, trigger disputes and potentially destabilise the electoral process, particularly in rural communities with weak connectivity.

“By global standards, real-time electronic transmission of election results may not be practicable at this stage of our development,” he said.


What the Amendment Means

The revised clause does not abolish electronic transmission of results. Instead, it provides flexibility in implementation.

The Senate maintains that Section 62(2) of the Electoral Act 2022 already establishes a National Electronic Register of Election Results, and the amendment aims to reinforce the framework without creating a rigid mandate that may prove impractical nationwide.

Under the current system operated by the Independent National Electoral Commission (INEC):

  • Results are entered into Form EC8A at the polling unit.
  • The presiding officer uses the BVAS device to upload a scanned copy to the IReV portal.
  • The portal allows public viewing of polling unit results for transparency.

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The Senate’s revision would allow uploads to remain in place, but without invalidating results in areas where connectivity prevents immediate transmission.


Opposition and Public Backlash

The decision has sparked significant debate across Nigeria’s political landscape.

Former presidential candidate Peter Obi and former Rivers State governor Rotimi Amaechi have criticised the move, arguing that weakening mandatory real-time uploads could undermine electoral transparency and public trust ahead of the 2027 general elections.

Civil society groups and election observers warn that introducing a “network failure” clause may create loopholes that could be exploited during collation, particularly at ward and local government levels.

However, supporters of the Senate’s position argue that insisting on a strict real-time requirement without adequate infrastructure could lead to widespread technical failures, contested results and post-election instability.


House–Senate Differences and Next Steps

The House of Representatives is understood to favour retaining the mandatory real-time transmission language, setting the stage for a conference committee to harmonise both versions of the bill.

The final wording of Clause 60(3) will likely shape Nigeria’s electoral governance framework heading into 2027 and determine whether real-time electronic transmission becomes a statutory obligation or remains subject to operational discretion.

As debates intensify, the issue has become a defining test of Nigeria’s commitment to electoral reform — balancing technological ambition with infrastructural reality.

Senate Explains Why Real-Time E-Transmission Cannot Be Mandatory in 2027 Elections

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Osogbo Sons and Daughters Mark 5th Anniversary with Awards, Political Undertones

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Osogbo Sons and Daughters Mark 5th Anniversary with Awards, Political Undertones

The 5th anniversary celebration of Osogbo Sons and Daughters drew prominent indigenes, political office holders, traditional leaders and stakeholders to a colourful gathering focused on the development of Osogbo, the Osun State capital.

Members of the Osogbo United Youth Forum were also in attendance at the event, which featured the presentation of meritorious awards to distinguished sons and daughters of the town in recognition of their contributions to community growth.

Among the award recipients were the member representing Osogbo Federal Constituency in the House of Representatives, Alhaji Moruf Adewale Gangari; the Secretary to the Osun State Government, Alhaji Teslim Igbalaye; and the member representing Osogbo in the Osun State House of Assembly. Others honoured included the Chief Executive Officer of Mars Filling Station, Alhaji Eniafelamon, the Head Baale of Osogbo, as well as several other eminent indigenes.

The awards, according to the organisers, were aimed at appreciating individuals who have demonstrated dedication and service toward the advancement of Osogbo.

The Osun State Governor, Ademola Adeleke, who was represented at the event by the Commissioner for Information, Kolapo Alimi, used the occasion to stress the importance of collective support for the administration ahead of the August 8 governorship election.

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In his address, the commissioner noted that Osogbo and Ile-Ife are strategically positioned in ongoing political discussions concerning succession politics toward 2030. He stated that the town which records the highest number of votes in the forthcoming election could stand a stronger chance of producing the governor’s successor in 2030.

He also highlighted developmental projects executed by the present administration in Osogbo and urged residents to remain united in order to attract more dividends of democracy to the town.

Speaking earlier, the Secretary to the State Government, Alhaji Teslim Igbalaye, outlined several initiatives he said he had facilitated for Osogbo through his office. According to him, over 100 indigenes of Osogbo have secured employment opportunities since the inception of the current administration.

He added that arrangements were at an advanced stage for more Osogbo indigenes to occupy principal officer positions across tertiary institutions in the state. Igbalaye promised to provide the leadership of Osogbo Sons and Daughters with the names and phone numbers of beneficiaries to ensure transparency and verification.

He also pledged to donate a bus to the association, following a request by its President, Saheed Akinyemi.

The programme further provided an avenue for elected representatives from Osogbo to present their scorecards before the audience, promoting accountability and engagement with constituents.

In his closing remarks, the President of Osogbo Sons and Daughters commended dignitaries and participants for their presence and reiterated the organisation’s commitment to the continued progress and unity of Osogbo.

Osogbo Sons and Daughters Mark 5th Anniversary with Awards, Political Undertones

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Afenifere Calls for Immediate Take-Off of State Police as Terror Threats Rise in Yorubaland

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South West Governors forum

Afenifere Calls for Immediate Take-Off of State Police as Terror Threats Rise in Yorubaland

The pan‑Yoruba socio-political group Afenifere has warned that escalating terrorist attacks in states bordering the South-West are heightening fears of a full-scale incursion into Yorubaland, calling on governors to urgently implement robust security measures and push for the take-off of state police.

In a statement by its National Publicity Secretary, Jare Ajayi, Afenifere expressed deep concern over repeated attacks in Kwara, Kogi, and Niger states, as well as kidnappings in Ondo, Ekiti, and Oyo states. The group cited the recent Woro and Nuku attacks in Kwara State, where nearly 200 people were reportedly killed and several others abducted, as a warning of the growing threat.

“This is a very disturbing development as cases of abduction seem to be on the increase in Yorubaland. Terror acts are no longer confined to rural areas; even cities like Ibadan have witnessed incidents,” the statement read. Afenifere highlighted the broad-daylight abduction of a schoolgirl in Ibadan’s Challenge area as a chilling example of the insecurity affecting urban centres.

Ajayi urged governors of the six South-West statesOyo, Ogun, Osun, Ekiti, Ondo, and Lagos — as well as neighbouring states including Kwara, Kogi, Edo, and Delta, to implement practical security arrangements that will allow residents to “sleep with their two eyes closed.”

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The group recalled that during a November 24, 2025, meeting in Ibadan, the South-West governors had agreed to strengthen regional security through measures such as the South-West Security Fund and the creation of monitoring centres to track potential terrorist activity. Afenifere noted that recent steps, such as Ogun State’s inauguration of CCTV monitoring centres, are commendable but insufficient.

Ajayi stressed that the persistence of banditry and terrorism is not due to a lack of intelligence, but rather the failure to effectively utilize available information. He insisted that state police should take off immediately, while communities must be empowered to develop local security arrangements, including support for the Amotekun Corps and other regional security initiatives.

“It is high time governors in Yorubaland went beyond sermonisation and swung into decisive actions that will make the region truly secure,” Ajayi said.

Afenifere’s warning comes amid growing concerns over security across southern Nigeria, where the spread of banditry, kidnappings, and terrorist attacks is increasingly threatening both rural and urban communities. The group’s call reinforces longstanding advocacy for state-level policing as a critical measure to combat rising insecurity.

Afenifere Calls for Immediate Take-Off of State Police as Terror Threats Rise in Yorubaland

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