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Bankers Committee Endorses Introduction of N5,000 Notes

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The Bankers Committee yesterday endorsed the introduction of N5,000 note by the Central Bank of Nigeria (CBN), saying “it will reduce the cost of doing business’’.

Managing Director of the United Bank for Africa (UBA), Mr Philip Oduoza,  made this known while briefing newsmen on the outcome of the committee’s meeting in Abuja.

“Logically, the N5,000 notes will reduce cost of doing business and the total amount spent in printing the currency is going to reduce by 10 times.

“The cost of printing a currency still remain the same, whether you are printing N50 note or N5,000 note.

“So, if we print N5,000 note and print one million of it and do the same with N100, you find out that you have less physical currency as far as the N5,000 is concerned.

“Therefore, the cost will reduce when you are printing a bigger denomination,’’ he said.

According to him, it will encourage service efficiency, assuring that the introduction of the bill would not bring about inflation in the country.

He noted that the new note would facilitate reduction in the lending rate by commercial banks.

“So many things are involved in the lending rate.

“For instance, if the cost of production, management and transaction of currency is reduced, automatically many charges will drop including the lending rate.”

Oduoza also assured that it would be difficult to fake the new currency, “as higher denominations pass through a lot more scrutiny”.

On the recent complaint by the EFCC that banks’ were not cooperating with it in accessing the accounts of those indicted in corruption cases, Oduoza pledged that the banks would continue to work with the commission to ensure service delivery.

According to him, a committee on financial literacy has been established to look at the issues and engage the EFCC to facilitate improvement in relations to enhance the commission’s work.

Also, Managing Director, Standard Chartered Bank, Mrs Bola Adesola,  said that the new notes would only be issued to customers on request.

“Those who want the N5,000 note will get it, customers will still have the right to choose the denomination they want to use,’’ she said.

Adesola also noted that the apex bank had tried to maintain a stable inflation rate in spite of all odds.

CBN Director, Cooperate Communications, Mr Ugochukwu Okoroafor,  said that the coins and notes would run side-by-side.

This, he said, would dispel the fears that the cost of commodities sold for N50 would automatically rise because N50 was converted to coins.

“Restructuring of the Naira will continue to be done in the best interest of the country and not to raise inflation and other issues as people are speculating,’’ he added.

Meanwhile, the National Chairman, Progressives Action Congress (PAC), Chief Charles Nwodo, said that the proposed introduction of N5,000 note by the Central Bank of Nigeria (CBN) was counter productive and would “throw the nation into inflation”.

Nwodo, who made the remark in an interview with newsmen in Abuja, said the controversy surrounding the proposed introduction of the N5, 000 note had become an argument between the poor and the rich.

He regretted that the upper class saw no reason why people should complain about the idea but the masses who would feel the pinch more carried the public opinion against it.

The chairman said government should realise that panic could influence inflation even though they believed that it was only monetary factors and market forces that could determine inflation.

“A mere rumour that subsidy will be removed raised the cost of fuel, especially at the black market by 3,000 per cent, and based on this, there is every tendency that business people will raise the prices of their goods.”

The chairman said that the proponent of N5, 000 note had gone far to inform the public that it was designed for the rich who could afford to carry huge amount of money.

He regretted that the statement contradicted the new programme of cashless economy of the Central Bank of Nigeria (CBN).

According to him, it is not the quality of the denomination that matters but the value of that currency to the economy.

“ A person with N1,000 note and a person with two pieces of N500 note operate on the same level of currency.

He said N5,000 note could not reduce the amount of money in the market but could only reduce the denomination.

He urged the Federal Government to improve on the productive capacity of the economy, as it remained the major antidote toward building a robust economy.

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11 Jostle For $100,000 As Nigeria Prize For Literature Unveils 2026 Poetry Longlist

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Eleven outstanding poetry collections are now in the race for the $100,000 Nigeria Prize for Literature, arguably Africa’s biggest and most prestigious literary prize.

The 11 collections were selected from a total of 223 entries received for this year’s competition.

Chairman of the Advisory Board for the Prize, Prof. Akachi Adimora-Ezeigbo, who announced the longlist, said the emergence of the 11 collections marks a significant milestone in this year’s competition and reflects the exceptional quality, creativity and diversity of contemporary Nigerian poetry.

According to her, the longlisted titles, arranged in alphabetical order, are: Adult Love by Tanure Ojaide; Bakandimiya by Saddiq Dzukogi; Black Passport by Paul Akpomuje; 2000 Blacks by Ajibola Tolase; Ceremony For The Nameless by Theresa Lola; Corpus: Animistic Verses by Ayo Oyeku; and Floral’s Love Colony by Tares Oburumu.

Other successful entries are, The Origin of Wounds by Malik Gbolahan; The Years of Blood by Adebayo Agarau; Unbind Me Now by James Ugwu Eze; and Why Does God Need a Gun by Ogaga Ifowodo.

Prof. Adimora-Ezeigbo described the announcement as an important stage in the 2026 edition of the prize.

She noted that the collections demonstrate the remarkable capacity of poetry to illuminate human experience through thoughtful reflection, cultural memory and artistic expression.

According to her, the works revisit history while interrogating dominant historical narratives and exposing the forces that shape collective identities and social relations.

She stated that despite their varied emphases, the books share a commitment to exploring the endurance of individuals and communities in the face of violence, oppression and social fragmentation.

On style and language, Prof. Adimora-Ezeigbo said the books display an impressive diversity of poetic techniques marked by lyrical intensity, symbolic depth and artistic innovation.

“Many employ densely poetic, allegorical, and elegiac modes that invite multiple layers of interpretation, while others draw extensively on folklore, oral traditions, and contemporary realities to create a compelling fusion of past and present. Their language is generally fluid, evocative, and aesthetically refined, relying on vivid imagery, emotional resonance, and intellectual sophistication to communicate complex ideas. These works demonstrate how poetic language can illuminate social realities; challenge established perspectives and give voice to both individual and collective experiences.

“The next stage will demand a closer reading of each work, with attention to language, form, originality and lasting literary value,” she stated.

The Board chairman commended the judges for their painstaking work and reaffirmed the Advisory Board’s commitment to a credible process, literary excellence and the promotion of a strong reading culture.

With the announcement of the 11-title longlist, the competition now moves to the next phase, with a shortlist of three expected in August and the winner to be announced in October.

Sponsored by the Nigeria Liquefied Natural Gas (NLNG), The Nigeria Prize for Literature carries a cash award of $100,000 for the author of the winning book.

Now in its 22nd year, the prize rotates annually across four genres – prose fiction, poetry, drama and children’s literature – with the 2026 edition devoted to poetry.

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RSG Hails NMA’s Role In Strengthening Healthcare Delivery

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The Rivers State Government has applauded the Nigerian Medical Association (NMA), Rivers State Branch, for its steadfast dedication to advancing medical excellence and contributing significantly to healthcare development in the state and the country at large.

Speaking at the 2026 Annual General Meeting and Scientific Conference of the NMA held in Port Harcourt last Wednesday, the Secretary to the State Government, Dr. Dagogo Wokoma, described the association as a vital partner in the quest to improve healthcare delivery and outcomes.

Wokoma, according to a statement by the Head of Information and Public Relations Unit in his office, Julian Masi, noted that the NMA’s sustained advocacy for professional standards and quality medical practice has continued to impact positively on the healthcare sector and national development.

He said the conference theme, “Medical Practice in Nigeria: The Past, the Present and Quo Vadis,” offers a valuable platform for stakeholders to evaluate the progress made in the health sector, examine present realities, and develop practical solutions for future challenges.

He paid tribute to Nigerian doctors and other healthcare professionals for their sacrifices and unwavering commitment to service despite the challenges confronting the sector.

“We deeply appreciate the immense sacrifices made daily by Nigerian doctors and other healthcare professionals. In the face of numerous challenges, they continue to demonstrate exceptional resilience, professionalism, dedication and commitment to saving lives. Their contributions remain critical to national development,” he said.

In her keynote address, the immediate past Commissioner for Health, Prof. Adaeze C. Oreh, called on participants to critically examine the current state of medical practice in Nigeria and explore innovative approaches that will address emerging healthcare challenges in line with the conference theme.

Earlier, the Chairman of the Nigerian Medical Association, Rivers State Branch, Dr. (Prof.) Annabel Ureh Oparaodu, expressed gratitude to Governor Siminialayi  Fubara for his continued support for the medical profession in Rivers State.

She urged delegates to maximize the opportunities provided by the conference through active engagement and knowledge sharing.

Highlights of the event included the commissioning of the Nigerian Medical Association Doctors’ Lodge and the NMA Water Factory, initiatives designed to improve members’ welfare and promote sustainability within the association.

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NPC Begins Digital Birth, Death Registration In Rivers

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The National Population Commission (NPC) has announced the commencement of a nationwide digital registration of births and deaths in Rivers State under the Electronic Civil Registration and Vital Statistics, E-CRVS, System, using the new VitalReg platform.

Federal Commissioner, NPC, Rivers State, Prof. Itotenaan Henry Ogiri, announced said this recently during a press briefing  in his Port Harcourt office.

Ogiri said the full digital registration of births and deaths took effect nationwide on July 1, 2026, and is now being implemented across Rivers’ 23 Local Government Areas as part of the Commission’s rollout in the 36 States of the Federation and the FCT.

“Today’s announcement marks a significant milestone in Nigeria’s journey towards a modern, technology-driven civil registration system,

“It reflects the Commission’s commitment to ensuring that every birth and every death occurring in our country is accurately captured through a secure, efficient and digitally enabled platform,” he said.

The Federal Commissioner noted that while Nigeria records an estimated five million births annually, coverage remains low.

“Birth registration currently stands at about 57%, while death registration is below 20% nationwide.

“These gaps underscore the urgent need for a more efficient and accessible registration system,” he stated.

To address this, he said the commission has established 4,011 functional registration centres across the 774 LGAs, with plans to expand to about 8,000 centres nationwide.

According to him, in Rivers State, structures have been put in place and personnel are working with health facilities, LGAs and community stakeholders to ensure accessibility.

Ogiri explained that the VitalReg platform offers faster registration, 24-hour access, automated data validation for accuracy, reduced paperwork and waiting time, enhanced record security, and a stronger national database to support other government information systems.

He added that the platform would integrate seamlessly with Nigeria’s national digital identity framework, including the National Identity Management Commission (NIMC) to improve coordination and service delivery.

“The initiative builds on the launch of the E-CRVS System and the inauguration of the National Coordination Committee on CRVS by President Bola Ahmed Tinubu on November 8, 2023.

“It also aligns with the Federal Government’s Renewed Hope Agenda on digital transformation and transparency,” he said.

The NPC Commissioner stressed that success depends on partnerships and public participation and listed key collaborators as ALGON, NIMC, UNICEF and Barnksforte Technologies Limited.

“In Rivers State, we will continue to work closely with the State Government, Local Government Councils, healthcare providers, traditional institutions, religious organisations, development partners, civil society organisations and the media to ensure that no child or family is left behind,” he said.

The commissioner called on parents, guardians, healthcare workers and community leaders to ensure prompt registration of every birth and death, noting that a complete civil registration system strengthens governance and supports sustainable development.

He reassured the public that birth registration and birth notification services remain highly subsidised, though specialised administrative services such as record modification, certificate reissuance, attestations and verification will attract approved charges to support system sustainability.

Ogiri appreciated the Rivers State Government for its support, and commended NPC staff in the State, as well as development partners, LGAs, healthcare institutions, traditional and religious leaders for advancing civil registration in the state.

He also urged the media to continue to amplify the message “that every birth counts, every death matters and every Nigerian deserves a legal identity.”

“As we commence this new chapter, let us all work together to build a civil registration system that is modern, inclusive and trusted by all,” Ogiri concluded.

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