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CBN Extends Old Naira Notes Validity

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The Central Bank of Nigeria has extended the validity of the old N200, N500 and N1,000 notes indefinitely .

The apex bank’s Director, Corporate Communications, Isa AbdulMumin in a statement titled, “CBN To Allow Old Design Naira Banknotes As Legal Tender, Ad Infinitum” on Tuesday, said the decision is line with international best practices and to forestall a repeat of earlier experiences implementing the policy.

The PUNCH reports that the CBN introduced the redesigned N200, N500 and N1.000 denominations in October 2022 and certain deadlines were set for the old design of these denominations to cease as legal tenders.

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READ ALSO: Naira Slump Persists Despite 46% Rise In Dollar Turnover

The statement read, “Without prejudice, the Central Bank of Nigeria wishes to inform the general public of its desire to extend the legal tender status deadline of the old design of N200, N500 and N1,000 denominations; ad infinitum.

“This is in line with international best practices and to forestall a repeat of earlier experiences.

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“Thus, all banknotes issued by the Central Bank of Nigeria, in accordance with Section 20(5) of the CBN Act 2007, will continue to remain legal tender, ad infinitum. even beyond the initial December 31, 2023, deadline.

“The Central Bank of Nigeria is working with the relevant authorities to vacate the subsisting court ruling on the same subject.

READ ALSO: Why Naira Re-denomination Will Fail In Nigeria — Experts

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“Accordingly, all CBN branches across the country will continue to issue and accept all denominations of Nigerian banknotes, old and redesigned, to and from deposit money banks.

“The general public is enjoined to continue to accept all Naira banknotes (old or redesigned) for day-to-day transactions and handle these banknotes with utmost care, to safeguard and protect the lifecycle of the banknotes.

“Also, the general public is encouraged to embrace alternative modes of payment, e-channels, for day-to-day transactions.”

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12 Die, 30 Missing In Peru Landslide

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At least 12 people, including three children, died in a landslide at a river port in central Peru on Monday, and 30 were reported missing, officials said.

The landslide submerged a boat with about 50 passengers on board, and another with none, as they were docked at the port of Iparia in the Amazon jungle region of Ucayali, according to a police report cited by the Andina news agency.

Six people were injured, it added, and a search and rescue operation was underway at the start of the Peruvian rainy season.

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READ ALSO:FULL LIST: APC Sweeps Rivers Elections, Wins 20 Of 23 LGAs

Without giving a toll, Peru’s COEN national emergency operations centre said on X that tragedy struck at dawn due to “erosion” of the bank of the Ucayali river.

It said the navy has been called in to help.

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Nigeria Grants Asylum To Guinea-Bissau Opposition Candidate

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The Nigerian embassy in Guinea-Bissau has granted asylum to Fernando Dias da Costa, the country’s opposition presidential candidate, following alleged threats to his life after last week’s military coup, The Cable Reports.

The coup was announced by military officers on Wednesday, just days after Guinea-Bissau’s presidential election in which both incumbent President Umaro Embaló and his main challenger, da Costa, claimed victory before official results were released.

Nigeria condemned the takeover and urged an immediate return to constitutional order.

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In a letter to the President of the Economic Community of West African States Commission, Omar Touray, dated November 30, the Foreign Affairs Minister, Yusuf Tuggar, said President Bola Tinubu had approved asylum and protection for da Costa inside the Nigerian embassy in Bissau.

READ ALSO:Guinea-Bissau Military Takeover Is ‘Ceremonial Coup’ – Jonathan

Tuggar wrote that the decision was made “in response to threats made against da Costa’s life.”

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“In this regard, it would be appreciated if you would kindly mandate the ECOWAS Stabilisation Support Mission in Guinea-Bissau to provide him protection and security while in the premises of the Nigerian embassy,” the letter stated.

The foreign affairs minister’s Special Assistant on Media and Communications Strategy, Alkasim Abdulkadir, confirmed the letter’s authenticity to The Cable on Monday.

He said, “The decision of the Federal Government of Nigeria to grant asylum and provide protection to Fernando Dia Da Costa falls squarely within Nigeria’s sovereign responsibility and longstanding commitment to regional peace, stability, and democratic governance.”

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READ ALSO:Guinea-Bissau Coup: FG Gives Update On Ex-President Jonathan

He added that Nigeria acted “in the broader interest of de-escalation,” saying the government had exercised its discretion “to prevent further deterioration of tensions and to promote social cohesion in Guinea-Bissau and the wider West African sub-region.”

According to Abdulkadir, the intervention aligns with ECOWAS principles and reflects Nigeria’s role as a stabilising force in West Africa.

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Following the coup, ECOWAS held an emergency virtual summit of heads of state and subsequently suspended Guinea-Bissau from the regional bloc until constitutional order is restored.

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Trump To Attend FIFA World Cup Finals Draw On Friday

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The White House on Monday confirmed US President Donald Trump would attend the draw for the FIFA World Cup finals in Washington later this week.

The United States will co-host the 2026 tournament alongside Canada and Mexico.

On Friday, President Trump will attend the FIFA World Cup final draw at the Kennedy Centre,” White House Press Secretary Karoline Leavitt told reporters.

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READ ALSO:Trump Unveils Fast-track Visas For World Cup Ticket Holders

Trump has made the World Cup a centrepiece event of both his second presidency and the 250th anniversary of US independence next year.

But the giant sporting extravaganza has not escaped the political turmoil caused by Trump’s hardline stance on a host of issues.

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Trump, a Republican, has raised the possibility of moving games from some US host cities amid a crackdown on what he says is crime and illegal migration in some Democratic-run areas.

AFP

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