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November 15, 2023 CBN Says Old Naira Notes Remain Legal Tender Indefinitely

CBN Says Old Naira Notes Remain Legal Tender Indefinitely

The Central Bank of Nigeria, CBN has said the old N200, N500, and N1,000 notes will remain legal tender indefinitely and no longer have a deadline

This was disclosed in a statement signed by the bank’s Director of Corporate Communications Isa Abdulmumin where it made known its intention to extend the validity of old naira notes beyond any expiry date.

In March 2023, the Supreme Court had extended the deadline to phase out the old naira notes to December 31, 2023.

According to the bank, it is working with the relevant authorities to vacate the subsisting court ruling on the same subject.

While explaining that the move is in line with international best practices and “to forestall a repeat of earlier experiences, the bank said it will continue to issue and accept all denominations of the bank notes, old and redesigned, to and from deposit money banks (DMBs).

The CBN there encouraged the general public to embrace alternative modes of payment such as e-channels, for day-to-day transactions.

 

 

November 15, 2023 I Am Not Owing Salaries In Imo — Uzodinma Insists

I Am Not Owing Salaries In Imo — Uzodinma Insists

Imo state Governor, Hope Uzodinma is insisting that workers in the state’s civil service are not being owed salaries.

The governor who has been re-elected into office stated this when he played host to the Imo Council of Elders.

He also apologized for the treatment the NLC President; Joe Ajaero got when he visited the state but maintained that the state government will never be intimated by the blackmails of the union.

 

November 15, 2023 Lagos House Of Assembly Summons Commissioner For Transport, Oluwaseun Osiyemi Over Recklessness Of Agencies Leading To Deathsof Road Users

Lagos House Of Assembly Summons Commissioner For Transport, Oluwaseun Osiyemi Over Recklessness Of Agencies Leading To Deathsof Road Users

In Lagos where the State House of Assembly has lamented the seeming recklessness of some motorists operating in the state just as the lawmakers raised concerns over the activities of some officials of the Lagos State Traffic Management Authority (LASTMA).

At a plenary presided over by the Speaker, Mudashiru Obasa, the House summoned the Commissioner for Transportation, Oluwaseun Osiyemi, and the Special Adviser to the Governor on Transportation, Sola Giwa, in order to give explanations on the activities of LASTMA officials on Lagos roads.

The lawmakers also invited the General Manager of LASTMA, Bolaji Oreagba.

The decision of the House followed a ‘Matter of Urgent Public Importance’ raised by a member, Temitope Adewale, on the death of two officials of the Lagos Waste Management Authority (LAWMA).

Obasa, while noting that incidents involving recklessness of drivers and careless attitudes of LASTMA officials were on the increase, said, there was a need to revisit the laws guiding transportation in the state.

In another vein, the lawmakers hinted that they may look into the law regulating transportation in order to address the problem of alleged multiple taxations by various unions in the sector.

The House also resolved to invite the transport unions in the state for discussion.

 

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