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New Naira notes: CBN intensifies sensitisation at major markets, stores across Nigeria
To guarantee the success of the cashless policy and usage of the new naira notes, the Central Bank of Nigeria (CBN) has deepened sensitisation at all major markets across the country.
In Abuja, the apex bank officials visited Wuse and Garki markets, the two major ones in Abuja. Speaking at the Garki market, CBN Director and Managing Director of NIRSAL Micro-Finance Bank, Abubakar Abdullahi Kure, told the traders and other stakeholders to ensure they empty the old notes in their possession at the banks, while using other banking channels for their transactions.
He added that the new policy would help control inflation, as it would bring the hoarded currency into the banking system, thereby making monetary policy more effective.
“It will also help with better design and implementation of monetary policy as we will have much more accurate data on money supply and monetary aggregates.
“We believe that this exercise would help in increasing financial inclusion, moving towards a more cashless economy, and ensuring greater formalization of the Nigerian economy,” he said.
He assured that the banks would be closely monitored, adding that those found culpable of hoarding and diverting the new notes will be sanctioned.
He said: “We’re taking stock to know those getting new notes and what they are disbursing or why they’re not disbursing. We’re monitoring to know whether the banks are hoarding, diverting or not even picking the new money.
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“Appropriate penalties will be meted out where infractions are determined,” he said.
On possible extension of the deadline, Kure said: “At this point, I can’t say yes or no.”
He added that there has been massive deployment of CBN directors across the country to deepen sensitisation on new naira notes and cash restriction.
He further revealed that the apex bank was consulting with religious leaders and traditional rulers to secure their buy-in and ultimately make the initiative a success.
Stakeholders in the market appealed to the apex bank to ensure availability of the new notes as their livelihood depended on it.
In line with its policy direction, the CBN has stated that banks that dispense old naira notes with their automated teller machines in Cross River would be sanctioned.
The Branch Controller, CBN Calabar, Glory Iniunam, who stated this during a sensitisation drive across major markets in Calabar at the weekend, expressed worry that banks were still issuing old notes over the counter. Iniunam enjoined those with the old notes to take them back to the bank before the 31st of this month.
“What we are here for is to sensitize the people on the acceptance and the deadline for the new redesigned naira to let them know that as at 31January 2023 the old note will cease to be a legal tender and February 2, 2023 the new note will come to into being completely and we are not going to use the old notes anymore.
“Anyone that has the old notes should take them to the bank before 31st January 2023 and get the new notes. If you are going over the counter we are still giving the old notes the reason being that it is the ordinary people that use the ATMs and we want the money to get into circulation.
“You can still collect the old note from over the counter and use but before January 31, take it back to the bank and they must have received enough so they can give to you.
“If there is anybody dispensing old notes we are doing spot checks and are going to do another one today, tomorrow and by the weekend. Any ATM dispensing old notes we will make report and there are sanctions for them,” she said.
She explained that those in remote villages and communities without financial institutions across the state should come together and write to the bank so that POS agents will be mobilised to such areas.
According to her, the essence of the sensitization is to keep people informed on the new naira notes as well as the deadline for the use of the old notes.
In Bayelsa State, CBN took its sensitization campaign on the new currency notes to the Swali Ultra Modern Market, Yenagoa, with a declaration that the January 31 deadline for the old notes is sacrosanct.
The Branch Controller, CBN, Yenagoa, Mr Francis Ene Asuquo, who commended the traders at the Swali market for coming out to attend the sensitization campaign said the choice of Swali market was very important to raise the awareness level of the traders on the need to take the old notes they collect from customers to the bank for the deadline.
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Asuquo who noted that the cashless policy had come to stay in Bayelsa explained that the redesign of the naira note is part of the implementation of the cashless policy.
“The change in our currency design is well timed as it seeks to discourage counterfeiting, money laundering, tackle inflation, and then enable the control of currency in circulation. Associated with this policy is the need to move from cash-based to cashless forms of payment channels, which are available, accessible and easy to use. So let us open bank accounts, have our BVN, and at the same time identify the features and benefits of our new redesigned currency notes.
“We must be cashless in line with international best practices. We want to encourage the use of electronic transactions of business by ATM, Internet transfer or through the POS.
“Part of the policy why the naira was redesigned is to discourage money laundering and kidnapping for ransom. CBN is changing the narrative by changing some of the monetary policy of the bank and making sure that people comply with it in order, to make sure the issue of fake notes is eliminated.”
He also noted that part of the policy is to make sure the money outside the banking system is brought back.
“We want to stop the abuse of our naira note either by spraying it during ceremonies or squeezing it or any other abuses. Anybody found spraying money in any ceremony will pay a fine of N50,000 or get six months imprisonment or both. It is also to stop the habit of selling money.
In her goodwill message, the officer in charge of Swali Ultra Modern Market in the Ministry of Trade and Investment, Mrs Mildred Francis Egele, said the sensitization was very timely as it would enlighten the traders on how to differentiate a fake note from the real one.
“With this sensitization, everybody is aware that come 31st January 2023, the old note will no longer be in circulation.”
In Benue, the CBN introduced a cash swap programme to ensure rural access to the newly redesigned naira notes. The bank also stated that it has sustained its nationwide awareness/sensitization programmes, enforced speedy collection of the new notes at CBN branches by the Deposit Money Banks, (DMBs), and mandated issuance of the new notes through Automated Teller Machines (ATMs) to ensure distribution is fair, transparent and evenly spread across the country.
“In addition to these measures and in recognition of the need to maximise the channels through which underserved and rural communities can exchange their old naira notes, the bank is launching a cash swap programme in partnership with Super Agents & DMBs.”
The Director, Financial Markets Department, Angela Sere-Ejembi disclosed this while speaking to newsmen in Makurdi yesterday.
She said the programme would enable citizens in rural areas or those with limited access to formal financial services to exchange old Naira notes for redesigned notes, adding that the initiative would take effect from tomorrow.
She explained “The old N1000, N500, N200 notes can be exchanged for the newly redesigned notes and/or the existing lower denominations; N100, N50 and N20, among others which remain legal tender.
“The agent shall exchange a maximum of N10,000 per person. Amounts above N10,000 may be treated as cash-in deposit into wallets or bank accounts in line with the cashless policy. BVN, NIN, or Voter’s card details of the customers should be captured as much as possible.”
She stated that the service would also be make available to anybody without a bank account saying agents may, on request, instantly open a wallet or account, leveraging the CBN Tiered KYC Framework.
“This will ensure that this category of the populace are able to exchange or deposit their cash seamlessly without taking unnecessary risk or incurring undue cost.
“Agents shall sensitize customers on opening wallets/bank accounts and the various channels for conducting electronic transactions. Designated agents are eligible to collect the redesigned notes from DMBs in line with the Revised Cash Withdrawal Limit policy.
“Agents are also permitted to charge cash-out fees for the cash swap transactions but prohibited from charging any further commissions to customers for this service.”
While urging stakeholders in Benue State to take advantage of the programme, Sere-Ejembi said cash swap agents will be readily identifiable in all local governments, particularly those in the rural areas while the CBN will continue to monitor implementation.
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South African Woman Jailed 25 Years for Smuggling 5.75kg Heroin into Nigeria
South African Woman Jailed 25 Years for Smuggling 5.75kg Heroin into Nigeria
A Federal High Court in Abuja has sentenced a 38-year-old South African woman, Will Jessica Ann, to 25 years in prison for importing 5.75 kilogrammes of heroin into Nigeria through the Nnamdi Azikiwe International Airport, Abuja.
Justice Obiora Egwuatu handed down the sentence after Ann pleaded guilty to charges brought against her by the National Drug Law Enforcement Agency (NDLEA).
The defendant was sentenced to 15 years on the first count and 25 years on the second count, with both terms ordered to run concurrently. This means she will serve a maximum of 25 years, rather than 40 years.
The case dates back to July 6, 2026, when NDLEA operatives intercepted Ann during the inward clearance of passengers arriving on Qatar Airways Flight QR1433 from Doha at the Abuja airport.
Ann was travelling with her three-year-old son when she was stopped by anti-narcotics officers.
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According to details presented in court, the NDLEA said Ann initially denied having any checked-in luggage. However, operatives reportedly established that two suitcases containing the illicit substance carried baggage tags corresponding with the claim tags attached to her passport.
The agency said the two suitcases contained 14 large blocks of heroin, weighing a total of 5.75kg.
Ann reportedly admitted ownership of the luggage and told investigators that she had travelled from Cambodia through Doha before arriving in Abuja.
During the proceedings, the prosecution also told the court that Ann had admitted to conspiring with Jan Coenraad De Jager, a South African man who remains at large.
She was subsequently arraigned on a two-count charge bordering on conspiracy and unlawful importation of heroin under the relevant provisions of the law.
Ann pleaded guilty to the charges in August, prompting the prosecution to present the facts of the case before the court proceeded to sentencing.
The court was told that the seized heroin had an estimated street value of about ₦103.5 million, based on an estimated value of approximately ₦18 million per kilogramme.
Ann pleaded for leniency, expressed remorse and promised not to engage in drug trafficking again. She also told the court that she did not know there were illicit drugs in the bags.
After considering the facts of the case, Justice Egwuatu sentenced her to 15 years on Count One and 25 years on Count Two, directing that the sentences run concurrently.
The court also ordered that the seized heroin should be destroyed if the convict does not appeal within the period prescribed by law.
The case is part of the NDLEA‘s efforts to intercept illicit drug consignments being brought into Nigeria through international airports and other entry points.
The seizure at Abuja airport, followed by the defendant’s guilty plea and conviction, has resulted in the 25-year custodial sentence imposed by the Federal High Court.
South African Woman Jailed 25 Years for Smuggling 5.75kg Heroin into Nigeria
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Kaduna Troops Rescue Two-Year-Old Boy From Kidnappers, Search for Mother Continues
Kaduna Troops Rescue Two-Year-Old Boy From Kidnappers, Search for Mother Continues
A two-year-old boy is back with his family after troops rescued him from suspected kidnappers in Kaduna State.
Jafaru Baba was abducted with his mother from Ungwan Nungu village in Sanga Local Government Area. Troops later recovered the child after tracking the kidnappers to an area around Tayu Village.
The rescue followed intelligence received by security forces about the movement of the abductors and their victims.
According to security sources cited by security analyst Zagazola Makama, troops launched the operation at about 4pm on Wednesday, September 16.
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They searched Tayu High Grounds, Tayu Village and surrounding parts of Sanga LGA. The operation later brought the troops into contact with the suspected kidnappers.
A gunfight followed, forcing the abductors to retreat into the bush. In the process, they left the toddler behind.
The troops quickly secured Jafaru and later handed him over to his father.
Security sources said the troops fired 17 rounds of 7.62mm ammunition during the confrontation.
Meanwhile, the search has not ended. Security personnel are still combing the area for the child’s mother, who remains in the kidnappers’ custody.
They are also pursuing the suspects who fled after the encounter, as efforts continue to rescue the woman and bring those responsible for the abduction into custody.
Kaduna Troops Rescue Two-Year-Old Boy From Kidnappers, Search for Mother Continues
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Niger Mosque Abductions: Terrorists Execute 30 of 500 Captive Muslim Worshippers
Niger Mosque Abductions: Terrorists Execute 30 of 500 Captive Muslim Worshippers
MINNA, NIGERIA – The mass abduction of worshippers from mosques in Niger State has escalated dramatically, with armed terrorists reportedly executing some of the hundreds of captives seized during Friday prayers. The Inspector-General of Police, Olatunji Disu, travelled to Niger State on Saturday to assess the security situation and ordered reinforced rescue operations.
The attacks occurred on Friday, 21 August 2026, at approximately 2pm. Police spokesperson Wasiu Abiodun confirmed that armed men simultaneously attacked mosques in four communities – Dekara, Kpenya, Sabon-Gida and Gidan-Zana – in the Borgu Local Government Area, while Muslims were observing Friday prayers. Witnesses described scenes of chaos. A Dekara resident, speaking on condition of anonymity, said the terrorists surrounded the mosque shortly after prayers began. “As soon as the imam said ‘Assalamualaikum’, the bandits surrounded the mosque and took people away.” Local residents estimate that more than 60 people were abducted from Dekara Central Mosque alone. In Gbezhin community, no fewer than 100 people remained unaccounted for as of Sunday evening. The terrorists later released a video claiming to hold approximately 500 captives, including women and children, with the sound of children crying audible in the footage.
On Saturday, the terrorists issued a warning to surrounding communities, ordering residents to vacate their homes within 30 minutes and threatening: “We will kill anyone we meet when we return.” Those threats appear to have been carried out. A Dekara resident told Daily Trust: “We received information that some of the abducted worshippers have been killed, but we do not know the exact number. Soldiers and vigilantes have moved to recover the bodies, but all routes accessible to security personnel have been planted with improvised explosive devices.” The Niger State chapter of the Christian Association of Nigeria (CAN), through its chairman, Bishop Bulus Dauwa Yohanna, confirmed that approximately 30 worshippers who attempted to flee were shot dead by the gunmen. This figure corresponds with reporting by NPO Reports.
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The continuing violence and execution threats have triggered mass displacement. Resident Usman Musa told journalists that more than 200 residents from Gbezin had fled to neighbouring Benin Republic for safety. Another resident added that approximately 230 residents from Gidan-Zana and Sabon-Gida were taking refuge in Gawungi, inside Benin, while others had fled to Kwara State to stay with relatives.
Among those abducted are several prominent community figures. According to Ismaila Yahaya, the 90-year-old village head of Ka’ada was among those taken. He is the biological father of the District Head of Dekara and had only recently been released from a previous kidnapping. The violence in Borgu Emirate has not been confined to the mosque attacks. The Niger State Government confirmed that Alhaji Ahmed Yusuf, the village head of Galla, was killed by armed men at his residence. Governor Mohammed Umaru Bago expressed condolences, describing the killing as evidence of the bandits’ “extreme arrogance”.
Amid the escalating crisis, Inspector-General of Police Olatunji Disu visited Niger State on Saturday, 29 August, meeting with Deputy Governor Yakubu Garba at the Government House in Minna. He conveyed his condolences to the families of the victims and pledged that “the safe rescue of the kidnapped victims and bringing the perpetrators to justice remains the focus of current operations”. Disu has ordered the deployment of elite reinforcements to Niger State, including counter-terrorism units, tactical squads and the police air wing. Assistant Inspector-General of Police Victor Olaiya of Zone 7 has been dispatched to coordinate rescue efforts. Addressing officers at the Niger State Police Command, the Inspector-General said: “Nigerians are watching to see the police do what is right. I am not here for ceremony, but to bring a strong message of support to officers and soldiers working under difficult conditions.”
The Nigerian Supreme Council for Islamic Affairs (NSCIA) described the attacks as “heinous and barbaric”, calling on the Federal Government to “move beyond sporadic rescue operations” and establish a permanent, intelligence-driven and community-centred security architecture. The Christian Association of Nigeria’s Niger State chapter urged the government to provide adequate security at places of worship nationwide, stressing that “an attack on any place of worship is an attack on the sanctity of worship and a threat to the wider community”. Amnesty International also urged Nigerian authorities to secure the safe release of the abducted worshippers, noting that at least 1,100 people were abducted in the country between January and April 2026, with the actual figure likely to be far higher.
As of press time, the Niger State Government said it had not received any contact or demands from the kidnappers. Information Commissioner Obed Nuhu, speaking in a television interview, said the attacks were suspected to have been carried out by Lakurawa and Boko Haram elements, though the exact number of victims remained unverified.
Niger Mosque Abductions: Terrorists Execute 30 of 500 Captive Muslim Worshippers
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