All Posts in "Day: October 25, 2024"

No Deadline On Circulation Of Old Naira Banknotes,CBN Insists

                 Mohammed Shosanya
The Central Bank of Nigeria (CBN) has declared that there is no deadline for use of the old bank notes.
The clarification is contained in a statement signed by Mrs. Sidi Ali, Hakama, the apex bank’s Acting Director, Corporate Communications, which was made available to newsmen in Abuja on Thursday.
The apex bank described as false claims suggesting that the old series of the N200, N500, and N1,000 banknotes shall cease to be legal tender on December 31, 2024, declaring it calculated plans to disrupt the country’s payment system.
The statement said: “The attention of the Central Bank of Nigeria (CBN) has been drawn to discussions at different fora suggesting that the old series of the N200, N500, and N1,000 banknotes shall cease to be legal tender on December 31, 2024.
“We wish to state categorically that such claims are false and calculated to disrupt the country’s payment system.
“For the avoidance of doubt, the order of the Supreme Court of Nigeria on Wednesday, November 29, 2023, granting the prayer of the Attorney-General of the Federation and Minister of Justice to extend the use of old Naira banknotes ad infinitum, subsists.
“Similarly, the CBN’s directive to all its branches to continue to issue and accept all denominations of Nigerian banknotes, old and re-designed, to and from deposit money banks (DMBs) remains in force.
“It will be recalled that the Supreme Court ordered that the old series of N200, N500, and $41,000 banknotes shall continue to be legal tender alongside the redesigned versions.
“Accordingly, all banknotes issued by the Central Bank of Nigeria (CBN) will continue to remain legal tender indefinitely.
“We, therefore, advise members of the public to disregard suggestions that the said series of banknotes will cease to be legal tender on December 31, 2024.
“We urge Nigerians to continue to accept all Naira banknotes (old or redesigned) for their day-to-day transactions and handle them with the utmost care to safeguard and protect their lifecycle.
“Furthermore, the general public is encouraged to embrace alternative modes of payment, echannels, in order to reduce pressure on the use of physical cash”.
Online Editor by — October 25, 2024 in Banking&Finance 0
Rivers Helicopter Crash Kills Eight Passengers Onboard-Police

       Mohammed Shosanya
The Rivers State Police Command has confirmed dead  eight persons on board of Thursday’s helicopter crash in the state.
The Ill-fated helicopter left Nigerian Air Force Base in Port Harcourt, traveling to Nuim Antan OML123 fields with two crew members and six passengers when it reportedly ditched into the ocean near Antan Producing Limited’s Mimbo platform and Floating Production and Offloading (FPSO).
Public Relations Officer of the Rivers State Police Command, SP Grace Iringe-Koko,who confirmed this in a statement revealed that the crashed helicopter belongs to East Wing Aviation.
She added that the Marine Division of the Rivers State Police Command in collaboration with other agencies are making concerted efforts to recover the aircraft and the occupants.
The Police also extended its condolences to the families of the victims following the tragic incident.
She added:“The Rivers State Police Command regrets to inform the public of a tragic incident that occurred today, 24th October 2024, at approximately 11 am.
“Mr Ifeanyi Udogwu, a staff of Antan Producing Limited, Port Harcourt, reported to the Command that a helicopter with the call sign number 5N-BQG (S76C+), belonging to East Wing Aviation, departed from the NAF Base in Port Harcourt. The flight was bound for Nuim Antan OML123 fields, carrying two crew members and six passengers.
“Unfortunately, at about 11 am, the helicopter reportedly ditched into the ocean near Antan Producing Limited’s Mimbo platform and FPSO. All eight persons onboard are feared dead.
“The Marine Division of the Rivers State Police Command is cooperating with other agencies to recover the aircraft and the occupants.”
Online Editor by — October 25, 2024 in News 0