News
Oil Marketers Reject Old Naira Notes Despite CBN Directive
Published
2 years agoon
By
Editor
Oil marketers, on Monday, insisted that they were no more interested in the old naira notes and would not collect them from the public, despite claims that the Central Bank of Nigeria had cleared the bills for the transaction.
It was also gathered that Deposit Money Banks had yet to communicate any directive to oil marketers as regards the collection of the old naira notes.
Marketers of Premium Motor Spirit, popularly called petrol, and other petroleum products, told our correspondent that since the Federal Government had redesigned the naira notes, it should make it surplus and stop putting Nigerians into confusion.
“They said they have redesigned the naira, and if they have done that, then the Central Bank of Nigeria should release the new money. Why are they taking us backwards and confusing people? What are we going to do with the old money?” the Secretary, Independent Petroleum Marketers Association of Nigeria, Abuja-Suleja, Mohammed Shuaibu, stated.
READ ALSO: JUST IN: At Last, CBN Breaks Silence, Says Old Naira Notes Remain Legal Tender Till December
He added, “The Federal Government said it had directed the CBN to destroy the old notes and that the notes cease to be legal tender. So as far as we are concerned, and as businessmen, it will be very difficult to go ahead and start collecting that money.
“For it is until we hear that banks have started collecting it before we will start collecting it from the public. But as far as we are concerned, we will not collect any old money in any of our petrol stations.”
He said the banks “have not told us to collect the old notes, and even the new notes, we are not seeing them. Majorly the fuel we are selling is through bank transfers and Point of Sale service, which is cashless.”
Shuaibu argued that President Muhammadu Buhari had said that his directive was for the CBN to destroy the old N1,000 and N500 notes, and that they ceased to be legal tender.
READ ALSO: Naira: CBN Has No Reason To Disobey Court Orders — Presidency
“So where are the old notes coming from? And if not for the network problem we encounter in Nigeria, this cashless policy is the best,” the IPMAN official stated.
He stressed that if the Federal Government was insisting on the redesigned new notes, it should make it surplus and allow it to circulate.
Commenting on the judgement of the Supreme Court, Shuaibu said, “Based on that judgement, we now have two types of N1,000 notes – old and new, as well as N500 notes. Now, which one is the authentic legal tender?
“The Federal Government said it had stopped the old notes, and the Supreme Court said people should transact with it till December, please, which one should we follow?
READ ALSO: Naira: Malami, Emefiele On Their Own On S’Court Judgement – Presidency
“If we are going to be using both, it means we will have two types of N1,000 and N500 notes in circulation. Is this not going to create confusion? The CBN should come out and tell us, or tell the commercial banks.”
He said the commercial banks should then tell the oil marketers, in order to have a seamless flow of cash across the country.
“But as far as we are concerned, those of us in this business, we don’t even want that old money again and we are not going to collect it.
“However, as I’m talking to you now, if the banks had asked us to collect the old notes, I will be the first to accept it and deposit same to the banks. But honestly, there’s nothing like that now,” Shuaibu stated.
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There seems to be solution at sight to the crisis bedeviling Okomu community in Ovia South West Local Government Area of Edo State following the setting up of Peace and Conflict Resolution Committee by prominent Ijaw monarchs drawn from Edo, Ondo, Delta and Bayelsa states.
The setting up of the Peace and Conflict Resolution Committee by the Ijaw kings followed a request by His Royal Majesty, Pius Yanbor, the Pere (king) of Okomu Kingdom to his Ijaw brothers peres (king), appealing to them to intervene in the crisis that had led to the burning of houses and loss of lives.
Worried by the crisis and the consequent appeal by HRM Pius Yanbor, the Ijaw peres (kings), namely, HRM, Oboro Gbaraun II, the Pere of Gbaramatu Kingdom, Delta State; HRM, Zacheus Egbunu, the Agadagba of Arogbo Kingdom, Ondo State; HRM, Capt. Frank Okiakpe, the Pere of Gbaraun Kingdom, Bayelsa State; HRM, Joel Ibane, the Pere of Iduwini Kingdom, Delta State; HRM, Godwin Ogunoyibo, the Pere of Olodiama Kingdom, Edo State; HRM, Gbebokedi Ajirioba, the Pere of Tubutoru Kingdom, Ondo State; HRM, Roman Bohan, the Pere of Furupagha Kingdom, Edo State, and HRM Stephen Ebikeme, the Pere of Oporomor Kingdom, Bayelsa State, in an acceptance memo of the Okomu king’s request which was made available to INFO DAILY stated: “We, the undersigned traditional rulers of Ijaw extraction, have unanimously aligned in agreement to take a deep dive into the crisis that has been rocking and bedeviling Okomu Kingdom for the past three years, with a view to providing respite and bringing lasting peace to the aforementioned kingdom.”
READ ALSO:Okomu Community Commends 4 Brigade For Sustenance Of Peace, Wants FOB Established In The Area
They continued: “This alignment however, is a fallout of a series of robust engagement amongst well-meaning and revered monarchs of Ijaw extraction, whose primary role in their various Kingdoms is to foster peace and unity.”
The Ijaw monarchs, thereafter, appointed Chief Sunday as the Chairman of the Peace and Conflict Resolution Committee, High Chief Pascal Akpofagha as the General Secretary and 16 other notable Ijaw sons from various kingdoms as members.
The 18-member committee is saddled with the responsibility of interfacing with the warring parties in the kingdom with a view to restoring lasting peace to the kingdom.
The revered Ijaw monarchs further expressed their commitment to providing the necessary support and work with the committee within the ambit of the law in order to ensure peace and harmony return to Okomu Kingdom.
News
UN Flags 138 Million Kids In Global Child Labour Crisis
Published
8 hours agoon
June 12, 2025By
Editor
Ahead of World Day Against Child Labour, a report released on Wednesday by the International Labour Organisation and the United Nations Children’s Fund has shown that nearly 138 million children were engaged in child labour in 2024.
The figure included 54 million engaged in hazardous work that endangered their health, safety, and development.
“Today, nearly 138 million children are in child labour worldwide, down from 160 million four years ago.
“There are over 100 million fewer children in child labour today than in 2000, even as the child population increased by 230 million over the same period,” the report stated
READ ALSO: I Don’t Want To Join Issues With Children, Amaechi Hits Back At Wike
World Day Against Child Labour is marked on June 12 every year and International Day of Play is marked on June 11.
The report revealed that while child labour had declined by more than 20 million since 2020, the world had missed its target of ending child labour by 2025.
It noted that since 2000, child labour had almost halved, yet current rates remained too slow.
To end child labour within the next five years, the report said the current rates of progress would need to be 11 times faster.
“While the elimination of child labour remains an unfinished task, there is some welcome news.
READ ALSO: Children Killed As Russia Launches Largest Air Attack On Ukraine
“After a concerning rise in child labour captured by the global estimates for 2020, a feared further deterioration in the wake of the COVID-19 pandemic has not materialised, and the world has succeeded in returning to a path of progress.
“This success can be attributed to some well-known policy imperatives that, if sustained and scaled-up, could bring about an end to child labour,” the report stated.
It highlighted that the policies included ensuring free and high-quality schooling to provide a worthwhile alternative to child labour and help ensure successful transitions from school to decent work.
Others were equipping education systems to support the school-to-work transition, particularly for older adolescents who face heightened occupational safety and health risks in the labour market; strengthening legal protections against child labour, aligned with international standards to lay the groundwork for effective prevention and enforcement, among others.
READ ALSO: Children’s Day: Dissuade Your Wards From Joining Cultism, Okpebholo Urges Parents, Guardians
The report also said targeted policies to end child labour must go hand in hand with broader development strategies.
“And to be fully effective, child labour concerns must be systematically mainstreamed into economic and social policy planning – from macroeconomic frameworks to labour market reforms and sectoral strategies.
“The latest estimates underscore the magnitude of the challenge of ending child labour. They also point to progress, and in doing so, affirm the possibilities.
“We have the blueprint for success – the right policies, adequate resources and unwavering commitment. Now is the time to act to free future generations from child labour,” it added.
News
Journalists’ Cooperative Society Announces Formal Take-off
Published
8 hours agoon
June 12, 2025By
Editor
The Innovative Media Partners Cooperative Multipurpose Society has announced its formal take-off.
The President of IMPCMS and Publisher of The Eagle Online, Dotun Oladipo, made the announcement in a statement issued on Wednesday.
According to Oladipo, the formal commencement of activities followed the completion of all registration formalities and opening of a bank account.
The statement added that this also followed the approval of the Executive Committee of the IMPCMS, which now has the full compliments of members.
READ ALSO: Nigeria No Longer A Democracy, Peter Obi Laments
Apart from Oladipo, other members of the Executive Committee include Ugomma Cookey, a member of the Board of the Media Career Development Network, as Vice President; Nkanu Egbe, Publisher of Lagos Metropolitan, as General Secretary; Ijeoma Popoola, Editor with the News Agency of Nigeria, Financial Secretary; and Dolapo Otegbayi, a prominent media and marketing consultant, as Treasurer.
The Ex-Officio Members are media trainer, Taiwo Obe; and Founder and Chief Executive Officer of WVL Development Advisers Limited and former Acting Managing Director/CEO of Bank of Industry, Dr. Waheed Olagunju.
To join the cooperative society, which is for practicing journalists and media professionals, would-be members are expected to fill a form, which can be obtained at the secretariat at 1, James Robertson Street, Surulere, Lagos.
For the electronic version of the form, the statement said a WhatsApp message can be sent to: 08023204836, or email to: nkanu.egbe@gmail.com.
READ ALSO: Trump Unveils Website For $5m US Residency Visa
The cost of membership was put at N10,000, which is payable into the cooperative society’s account with the United Bank for Africa: Innovative Media Partner Surulere Multipurpose Cooperative Society, with account number 1028258688.
Among the early financial members of the society are the President of the Nigerian Guild of Editors and Editor of Vanguard Newspaper, Eze Anaba; seasoned broadcaster, Anike-ade Funke Treasure; eminent journalist, Dr. Hope Orivri; Publishers of Oriental News, Chika Izuora and Yemisi Izuora; and Dayo Ojo.
All members of the Executive Committee of the IMPCMS have also become financial members.
The society was formed as a fallout of the Second Nigerian Media Leaders’ Summit held in Abeokuta, the Ogun State capital, in 2024, and organised by The Journalism Clinic, founded by Obe.
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