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CBN says old Naira notes no more legal tender in Nigeria

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The Central Bank of Nigeria has declared that the old Naira notes of N200, N500 and N1000 have ceased to be legal tender in Nigeria since February 10, 2023.

The declaration was made by the Branch Controller of the CBN Bauchi, Haladu Idris Andaza while briefing journalists on Monday at the CBN, branch in Bauchi.

He said that “In the last 24 hours, we have been inundated by questions from various angles of the general public about our operational guidelines on the old currency notes, be that as it may, there are so many questions here and there which people have been asking about.”

According to him, “So for the avoidance of doubt, we wish to state categorically that CBN is ready and is opened to receive all of those old notes based on certain conditions and criteria.”

“Customers are free to come to the Bank and deposit which they cannot do at the Commercial Banks anymore because the currency has seized to be a legal tender since the 10th of this month.

“Consequently, the management of the CBN decided that those customers will have a sigh of relief by coming to the offices of the CBN in all the 36 states in the Federation including FCT to deposit their money.

“The customer has to go to the CBN portal and fill a form in the portal, there will be a form there concerning this currency redesign and exchange.”

Andaza further explained that “After filling the form, you generate a code, you either print it or come with it in your mobile phone, give us the code and the information contained therein. In the form, you are expected to provide all the basic information about yourself, your account details and the amount you want to deposit.

“By the time you have done it correctly, you come to the CBN where the code will be accepted from you as well as the money, process and confirm the genuineness or otherwise of the money to avoid receiving fake notes because there are some fake notes in circulation now.”

He warned that “If anyone wants to try us by bringing in fake notes, he should be ready to be arrested, so don’t go and print old fake naira notes and bring them to the CBN, whatever happens to you, don’t blame us, you caused it.”

He however assured that “We will receive the money from you and do our internal checks before we give you an acknowledgement which is evidence to show that we have collected that amount from you and we go ahead with our internal processes, after finishing with the internal processes, we now hit your account and credit it through your Commercial bank.

“All the Commercial banks are expected to bring all old notes deposited to us and we will collect, that is the final. Some of the Banks have started depositing with us because they want to close their books, as soon as they do that, they will not collect from customers again, that is the reason CBN decided to open this portal for the general public especially the vulnerable who are still having problems of cash used for trading and now that the deadline has expired, they need to deposit their money.

“The CBN is trying to minimize risk involved in losing that money, we are trying to minimize hardship also, we know that people are having some hardship, people are suffering, we not unmindful of that fact, that why the management of the CBN has magnanimously decided to open that portal to assist those who were unable to deposit the money into their bank accounts, that is our process flow in a nutshell.”

 

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Diri sets up committee on new minimum wage

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Gov. Douye Diri of Bayelsa has set up a committee to work out modalities for implementation of a new minimum wage for workers in the state’s civil service.

The committee is headed by Secretary to the State Government, Prof. Nimibofa Ayawei.

Other members included the Head of Service, Mrs Biobelemoye Charles-Onyeama, the Commissioner for Finance, Maxwell Ebibai, his Labour, Productivity and Employment counterpart, Ebiuwou Koku-Obiyai and the Chief of Staff, Government House, Mr Peter Akpe.

The committee has the end of May 2024 to submit its report.

Diri made the pronouncement on Wednesday at the 2024 Workers Day celebration at the Peace Park in Yenagoa.

The governor assured that his administration would implement a new minimum wage once the committee submitted its report, adding that the state workers always have emoluments as their federal counterparts.

Diri stressed that the welfare of workers had always been a top priority of his administration as attested to by the numerous worker-friendly policies he initiated.

He equally promised to commence the building of a new befitting secretariat complex for civil servants to accommodate the increasing workforce.

The state’s helmsman, who described workers as the backbone of development in society, attributed the achievements in his first tenure to the support and contributions of civil servants.

He called for continuous harmonious working relationship with his government in order to bequeath lasting legacies.

The Bayelsa helmsman also approved an annual step increment for civil servants, release of funds for completion of the state secretariat of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC).

“The committee is to immediately look into what the Federal Government has done on the proposed minimum wage and see the possibility of domesticating it in Bayelsa.

“It is given until the end of May to submit its report.

“My dear workers of Bayelsa, you have done so well. You know that you are the engine room of this government. We have succeeded because you have done so well. We receive commendations everywhere we go.

“In terms of infrastructure, human capacity building and other sectors, we have done well. I say you should continue to keep it up.”

According to him, together, we are building a Bayelsa of our dreams, a beacon of hope, a model of progress and a testament to our unity of purpose.

“The tangible evidence of these fruitful collaborations is that abundantly, we have made it clear for all to see in the plethora of transformative legacy projects that now span the length and breadth of our state, touching the lives of all Bayelsa people.

“Let us continue to work together so that the future of our state will be established.

“Beyond the ongoing renovation, we will look at the option of building a new state-of-the-art secretariat complex to accommodate the expanding workforce,” he said.

Earlier, the workers eulogised the governor for his labour-friendly policies that had improved their working condition.

In a joint address by the chairman of the NLC, Comrade Barnabas Simon, and his TUC counterpart, Comrade Laye Julius, the workers specifically thanked the governor for approving payment of wage award to all categories of workers in Bayelsa.

“We thank you for the regular conduct of promotion exercises and implementation, prompt payment of salaries of workers and pensioners, among others.

“Organised labour in Bayelsa is most sincerely grateful for your kind and favourable disposition to the needs and aspirations of workers in the state.

“Your open-door policies and swift response to most of our demands in the last four years is highly appreciated,” they said.

They, however, appealed for an upward review of the wage award, improved transportation system for workers, and mapping out of acquired lands for civil servants.

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Gov. Sani unveils N500m loans scheme for workers

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Gov. Uba Sani of Kaduna State has unveiled a  N500 million revolving loans scheme for civil servants in the State.
Sani disclosed this on Wednesday in Kaduna during the 2024 May Day Celebration .
Sani symbolically distributed  dummy cheques to some workers amidst cheers while announcing the more economic empowerment initiatives for the workers
He also reaffirmed his commitment to prioritise workers’ welfare and equip them appropriately within available resources.
Sani emphasised the importance of a motivated workforce for the success of his administration’s Rural Transformation Agenda, addressing the theme ‘People First’.
Sani stressed the centrality of citizens in development and governance, highlighting the strategic partnership forged with labour unions to advance workers’ interests and improve living conditions.
He also listed ongoing efforts to attract investments, provide training, and enhance job opportunities for the citizens.
Sani assured continued attention to human capital development and poverty reduction through various government interventions.
The governor further disclosed ongoing consultations with labour unions at both federal and state levels to negotiate a decent salary increase for the state and local government workers.
Earlier, the Chairman of the Nigeria Labour Congress (NLC), Mr Ayuba Magaji, commended Sani for his personal attendance at the May Day Celebration, marking a significant departure from the past nine years.
He also expressed gratitude for the governor’s prompt payment of salaries and allowances as well as the involvement of labour unions in decision-making processes
The highlight of the occasion was a  march past by various unions and affiliates of the NLC as well as the Trade Union Congress (TUC)
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Lagos-Calabar Coastal road: ‘You have no claim’ – Umahi attacks Landmark Beach owner

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Minister of Works, Dave Umahi has said the Group Chief Executive Officer and founder of The Landmark Group, Paul Onwuanibe, cannot claim compensation from the Federal Government in connection with the demolition of structures for the Lagos-Calabar Coastal Highway.

The Federal Government is currently demolishing properties along the shoreline to create a pathway for the Lagos-Calabar Coastal Highway.

The Landmark Group, owners of the Landmark beach in Lagos State, is believed to be one of the organisations that will be highly affected by the demolition.

However, Umahi has insisted that infrastructures belonging to Landmark were spared, hence the owner can’t make claims on the Federal Government.

Addressing journalists, the minister said the beach was on the right of way and shoreline.

He said: “No claim for Landmark, we spared all his infrastructure, we don’t pay for the demolition of shanties because it is on our right-of-way, 15 meters from the shoreline, so he has no claim.

“We made all efforts to spare his infrastructure. The Landmark owner is acting like a politician, me I’m an engineer.

“While he does all the politics, I am an engineer, I’ll do the engineering work. I don’t know the attention he is seeking.”

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