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CBN Bows To Pressure, Extends Old Naira Deadline To Feb 10 …Says 75 Per Cent Old Notes Now Collected …Vows To Sanction Banks ‘Selling’ New Notes
The Central Bank of Nigeria (CBN) has finally bowed to pressure to extend deadline for the swapping of old naira notes.
A new deadline for the swapping of old naira notes with the redesigned notes is now February 10, 2023 as against the previous deadline of January 31 (tomorrow).
The deadline extension followed President Muhammadu Buhari’s approval yesterday, in Daura, Katsina State.
Buhari also approved a seven-day grace period which runs from February 10 to February 17 2023, to allow Nigerians to deposit their old notes at the CBN after which the old notes cease to be Legal Tender.
The CBN governor, Godwin Emefiele, disclosed these to State House correspondents shortly after he met the President in his country home in Daura, Katsina State, yesterday.
He also disclosed that 75 per cent of the N2.7tn held outside the banking system had been recovered.
The governor said, “We are happy that so far, the exercise has achieved a success rate of over 75 per cent of the N2.7tn held outside the banking system. Nigerians in the rural areas, villages, the aged and vulnerable have had the opportunity to swap their old notes; leveraging the Agent Naira Swap initiative as well as the CBN senior staff nationwide sensitisation team exercise.
“Aside from those holding illicit/stolen naira in their homes for speculative purposes, we do aim to give all Nigerians that have naira legitimately earned and trapped, the opportunity to deposit their legitimately trapped monies at the CBN for exchange.
“Based on the foregoing, we have sought and obtained Mr President’s approval for the following: 10-day extension of the deadline from January 31, 2023, to February 10, 2023; to legitimately held by Nigerians and achieve more success in cash swap in our rural communities after which all old notes outside the CBN losses their Legal tender Status.
“Our CBN staff currently on mass mobilisation and monitoring together with officials of the EFCC and ICPC will work together to achieve these objectives. A seven-day grace period, beginning on February 10 to February 17, 2023, in compliance with Sections 20(3) and 22 of the CBN Act allowing Nigerians to deposit their old notes at the CBN after the February deadline when the old currency would have lost its Legal Tender status.
“We therefore appeal to all Nigerians to work with the Central Bank of Nigeria to ensure a hitch free implementation of this very important process for program”.
Emefiele also vowed that Nigerians found selling, abusing or spraying the new naira notes at public functions will be “sanctioned” by the Economic and Financial Crimes Commission (EFCC).
He said with each note having a unique number, abused currencies can now be tracked to their users.
“For those involved in this, even if they are CBN staff members, they will be sanctioned. We will track them. Luckily, those new naira notes have trackers, we have their numbers because they have been issued.
“Once we see these numbers, we will track them and we will make public those that are involved in this business of selling new naira. Whereas, there are people who are suffering in the villages that need those new notes, we will deal with them.
“We have passed on a few videos to the EFCC and they are going to track these people. It’s not about the CBN tracking them. It’s about the EFCC or the ICPC and independent enforcement institutions to go after them”, he said.
Recall that the CBN governor had, last week, insisted that the January 31, 2023 (tomorrow) remained sacrosanct.
This had caused tension in the country as many bank depositors in a last minute rush stormed banks to deposit the old Naira notes of N200, N500 and N1,000 denominations in exchange for the new naira notes.
But reports across the country indicate that there has been scarcity of the new naira notes, making many Nigerians and groups to call for the extension of the initial January 31 deadline for the old notes.
Ostensibly realising the hardship the January 31 deadline would cause many Nigerians, the CBN yesterday said it added a 10-day extension of the deadline from January 31, 2023, to February 10, 2023, to allow for the collection of more old notes.
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Rivers Govt Hails Anglican Church’s Role In Peace, Development
The Rivers State Government has commended the Church of Nigeria (Anglican Communion) for its outstanding contributions to the development of Rivers State, particularly in the areas of peacebuilding, education, healthcare, and moral development.
Governor of Rivers State, Siminalayi Fubara, stated that the Church has remained a dependable partner in promoting peace, unity, justice, moral discipline, and social harmony across society.
The Governor, who was represented by the Secretary to the State Government, Dr. Dagogo Wokoma, made the remarks during the thanksgiving service marking the 30th Anniversary and First Session of the 11th Synod of the Diocese of Niger Delta North, held at St. Peter’s Anglican Church on Sunday.
Governor Fubara described the Synod’s theme, “Kingdom Advancement: The Priority of Every Believer,” as timely and relevant, considering the prevailing realities in society.
According to him, the Church continues to play a vital role in shaping societal values and inspiring hope among citizens.
“The Church remains a vital partner in promoting peace, unity, justice, and moral discipline. Its role in shaping values and inspiring hope cannot be overemphasized,” he stated.
The Governor further acknowledged the Anglican Communion’s contributions in education, healthcare delivery, youth empowerment, humanitarian services, and spiritual guidance across communities in Rivers State.
“The Rivers State Government appreciates the invaluable contributions of the Anglican Communion in education, healthcare, youth development, humanitarian support, and spiritual guidance. Your impact across communities in Rivers State continues to strengthen families and promote peaceful coexistence among our people,” he added.
Governor Fubara reaffirmed his administration’s commitment to building a peaceful, united, and prosperous Rivers State where all citizens can thrive irrespective of religion, ethnicity, or social background.
He also urged the Synod to continue praying for sustainable development and progress in Rivers State and Nigeria at large.
Earlier in his sermon, the Guest Minister, Joseph Olushola, spoke on the topic, “Kingdom Investment and Internal Rewards,” urging Christians to remain faithful stewards of God’s blessings and committed to advancing God’s kingdom through service and generosity.
The cleric emphasized that believers are custodians of the virtues and resources entrusted to them by God, stressing that divine rewards are based on faithfulness and impact rather than material possessions.
News
Shell, MAN Back Rivers’ Drive For Expanded Gas Supply To Industries
The Shell Nigeria Gas Limited, in partnership with the Manufacturers Association of Nigeria (MAN), has reaffirmed support for efforts to expand gas distribution infrastructure in Rivers State as part of initiatives aimed at improving access to affordable, cleaner and more reliable energy for industries across the South-South region.
The commitment was highlighted during the SNG–MAN Business Forum held in Port Harcourt, where stakeholders from the industrial and public sectors examined the role of natural gas in driving industrialisation, boosting local production and strengthening energy security.
Speaking at the forum on behalf of the Managing Director of Shell Nigeria Gas Limited, the company’s Head of Gas Distribution, Mr. Chukwuka Amos Ejesi, described natural gas as a critical component of Nigeria’s energy mix and a key driver of sustainable industrial growth.
According to him, Nigeria’s gas development agenda has reached a stage where policy direction must be matched with practical implementation capable of addressing the energy challenges confronting manufacturers.
He noted that pipeline gas offers industries a cleaner, more dependable and cost-effective energy alternative capable of supporting uninterrupted operations, reducing emissions and improving production efficiency.
“Gas is the backbone of manufacturing, and we are encouraged by the growing recognition among stakeholders of the need for cleaner and more reliable energy solutions,” he said.
Ejesi stressed the need for sustained collaboration among energy providers, government institutions and industrial stakeholders to maximise the country’s gas resources for economic development.
He added that improved gas infrastructure would strengthen manufacturing value chains, enhance productivity and promote more competitive industrial operations across Rivers State and the wider South-South region.
Participants at the forum also emphasised the importance of expanding energy infrastructure as a pathway to unlocking industrial capacity, reducing operating costs and promoting sustainable industrial development.
Representing Governor Siminalayi Fubara, the Director-General of the Rivers State Investment Promotion Agency, Dr. Chamberlain Peterside, reaffirmed the state government’s commitment to partnering with private sector investors to revitalise industrial activities in the state.
He identified key projects targeted under the initiative to include the revival of the Ahoada Industrial Park, the New Port City project and the proposed Bonny Industrial Park, all aimed at stimulating economic growth and expanding industrial opportunities along the Bonny corridor.
According to the governor, the long-term vision is to position Rivers State as a leading manufacturing hub in Southern Nigeria through strategic public-private partnerships.
Governor Fubara also commended Shell Nigeria Gas and MAN for sustaining engagements geared towards improving industrial energy access, noting that gas infrastructure development remains central to the state’s economic recovery plans.
He further observed that the gas sector presents enormous opportunities for economic growth, especially as global energy systems continue to shift towards cleaner energy sources.
The governor called on stakeholders to work collectively towards developing a practical and sustainable gas framework capable of supporting the state’s industrial and energy development objectives.
By; Kevin Nengia
News
Odu Charges Newlyweds To Build Marriage On Love
Rivers State Deputy Governor, Prof. Ngozi Nma Odu, has charged newlywed couples to build their marriages on the virtues of love and submission as taught in the Word of God.
Prof. Odu gave the charge at the wedding ceremony of Amblessed Favour Sunny-Cookey and Samson Jesuganji at Lifegate Power Ministries, Dominion Cathedral, in Port Harcourt on Saturday, 16th May 2026.
The Deputy Governor congratulated the couple on beginning a new phase of life together and prayed for God’s blessings upon their union, noting that the couple had been raised by godly parents and encouraged them to uphold the Christian values instilled in them.
Referring to the sermon delivered during the ceremony, Prof. Odu emphasized that the principles of love and submission remain fundamental to a successful marriage.
According to her, genuine love reflects the nature of God, stressing that love should remain the foundation of the couple’s relationship as they journey through life together.
Prof. Odu further prayed for enduring peace, happiness, and progress in the home, expressing confidence that the marriage would continue to flourish under God’s guidance.
The Deputy Governor also commended the families of the couple for their support and upbringing, while urging the newlyweds to always remember the significance of the day and the commitment they had made before God and witnesses.
In his sermon at the wedding, the Founder and Presiding Pastor of Salvation Ministries, Pastor David Ibiyeomie, stated that marriage did not originate from Western culture, traditions, or human ideas, but from God, whom he described as the “manufacturer” of marriage.
According to the cleric, couples seeking lasting and peaceful homes must rely on biblical principles rather than societal trends or assumptions.
He explained that many marital crises and rising divorce rates stem from ignorance and failure to apply scriptural teachings in family life.
Drawing from the biblical parable of building a house on a rock, Pastor Ibiyeomie said the Word of God remains the only solid foundation capable of sustaining marriages through challenges and difficult times.
He noted that marriage naturally comes with unexpected realities and pressures, stressing that religious ceremonies or cultural practices alone are not enough to sustain a home without proper understanding of God’s instructions.
The pastor further warned that ignorance of scripture remains one of the greatest weapons against believers, urging Christians to study and practice the Word of God rather than merely attending church services.
It would be recalled that the bride is the daughter of Pastor Sunny Cookey the Founder and Presiding Pastor of Lifegate Ministries. The Ceremony had lots of Ministers in attendance which includes Apostle Zilly Aggrey, Pastor George Izunwa, and Bishop Winston Iwo
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