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CBN Launches Campaigns On N5000 Note

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The Central Bank of Nigeria (CBN) has reviewed its tactics and has begun soft-pedaling on the issue of the N5000 note.

Speaking to journalists about the brash way the news of  the policy was unfolded to Nigerians, the CBN deputy Governor, Tunde Lemo made an attempt to appease Nigerians.

He said, “We are public officers. We operate for public good. We may not be popular. Central banking anywhere in the world is not a popularity contest. We are interested in doing what is good and to explain what we are doing to the satisfaction of the public that we serve. That is why the dialogue that is going on is very important.”

Also the Deputy Governor disclosed that the N5,000 note would not be mandatory for Nigerians to accept at commercial banks.

“I say this with all sense of responsibility as the deputy governor of the central bank that we shall ensure that no bank imposes N5000 on anybody who does not want it. You can go to your bank and say you don’t need N5000 note.

“Every Nigerian has the prerogative of the currency he or she wants to have. You can go to your bank and say, you don’t need N5000 note. You can say ‘give me  N500, N200 and N100.’  It will be illegal for that bank to say you must have N5000.

“We did not say take or leave it.  If you don’t need it, you don’t need to ask for it.  We are not saying people will be compelled to take the N5000 note.”

Despite the latest moves by the CBN, many civil and professional bodies are still against the policy. The Nigerian Bar Association has promised to drag the apex bank to court over the issue.

Even former President Olusegun Obasanjo has thrown his hat in the ring in support of those against the policy, increasing the ranks of critics of the policy to include senior PDP party members.

It would be recalled that CBN printed the N5,000 note on 2009 and has already finalised arrangement before informing Nigerians about it.

Meanwhile, some members of the Lagos State House of Assembly on Tuesday said  the proposed introduction of N5,000 currency by the Central Bank of  Nigeria would threaten the country’s security.

Mr Mufutau Egberongbe , Action Congress of Nigeria (ACN Apapa I), said in Ikeja that the introduction of the currency would render the cash-less policy useless.

The CBN Governor, Sanusi Lamido Sanusi, said recently that all the necessary logistics had been put in place to ensure the successful release of the currency into circulation in early 2013.

The lawmaker advised Sanusi against foisting such an unpopular policy on Nigerians.

“It is not necessary, with the cash-less policy in place. If you have two packets of 5, 000 notes in your pocket, that is a million naira.

“The introduction of the currency will encourage fraud, corruption and it will pose a security threat to the citizens.  So, it doesn’t make any sense,’’ Egberongbe said.

The lawmaker advised that the N40bn to be used in printing the currency should be diverted to complete some abandoned projects in the education, health and power sectors.

Egberongbe, the Chairman Committee on Physical Planning and Urban Development in the Assembly, described the N5, 000 currency as “draconian and a diversionary” as there were more demanding issues in the economy.

Mr Rotimi Olowo (ACN-Somolu I) said the  new currency would lead to further devaluation of the naira.

Olowo, the Chairman Committee on Works and Infrastructures at the Lagos Assembly, urged the CBN to ensure an improvement in power generation and supply, for the sustenance of local industries.

The lawmaker said efforts should be geared toward improvement and development of local industries to boost export and ensure economic growth, not a currency that would further threaten the economy.

‘’By the time we have N5, 000 note, it will show that Nigeria’s currency will not be worth anything.

”Nigeria’s economy will pay dearly for this– if the currency is introduced eventually,’’ Olowo said.

The apex bank had set up a sensitisation machinery to convince the various interest groups in all the geo-political zones of the country, of the importance of the N5,000 note.”

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Kenyan Runners Dominate Berlin Marathons

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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