This is contained in a statement issued by the command’s spokesperson, ASP Mansir Hassan, on Tuesday in Kaduna.

Hassan said, “On Aug 25, around 1:20 p.m., during a routine patrol and stop-and-search operation on the Birnin Gwari-Kaduna Highway, police operatives stopped a vehicle and found a black leather bag containing 15 pieces of unsewn military camouflage materials.”

He said the suspect admitted that he was to deliver the materials to someone in Udawa Village, who would then deliver them to bandits in the Chukuba area under Shiroro local government area of Niger State for their operations.

“The suspect is currently cooperating with the Police to arrest other accomplices at large,” he said.

READ ALSO: Falconets lose to Mexico, Danjuma says team ready for World Cup

Hassan also disclosed that, on Tuesday, while on a routine divisional patrol at about 1200 hrs, the police patrol team of Makarfi encountered a group of armed robbers who blocked the road using logs of wood and stones.

“Upon arrival at the scene, a shootout ensued between the police and the armed robbers.

“The superior firepower of the police patrol team forced the robbers to flee into the surrounding bushes.

“During the exchange, one of the robbers was neutralized and his locally made pistol and one cartridge were recovered,” he said.

Hassan said the police were combing the surrounding bushes in an ongoing operation to apprehend the remaining suspects.

The spokesperson said one Mr AbdulAziz AbdulMumin reported to the police that his blue-black Toyota had been stolen.

He said following the report, the vehicle was spotted in the Hayin Dan Mani area, of Igabi local government area of the state.

“Acting swiftly, the police traced the location and maintained surveillance.

”At about 20:00 hours on Monday, the police moved in and jointly arrested two suspects,” Hassan added.

He said that Abdul Mukhtar and his accomplice, Mamman Ahmad, a resident of Zoo Road, Kano were nabbed.

“Ahmad was found driving a Mercede Compressor with registration number AKD 547 GY, which is also suspected to have been stolen,” Hassan said.

According to him,  during interrogation, the suspects confessed to using a master key to steal cars.

He added that further investigation was ongoing to determine the full extent of the suspects’ activities and to identify other potential accomplices.

Hassan said the Commissioner of Police, Mr Audu Dabigi, commended the officers for their excellent work.

He assured the public that the command would continue to ensure that criminals had no breathing space within the state.

Source: NAN

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The CBN made the announcement on Tuesday in Abuja, in a statement issued by its Director, Corporate Communications Department, Isa AbdulMumin.

The spokesman said without prejudice, the CBN wished to inform the general public of its desire to extend the legal status deadline of the old design of N200, N500 and N1,000 denominations ad infinitum.

According to him, the action was “in line with international best practices and to forestall a repeat of earlier experiences.”

He added: “Thus, all banknotes issued by the CBN, in accordance with Section 20 (5) of the CBN Act, will continue to remain legal tender, even beyond the December 31 deadline.”

READ ALSO: Six dead, six injured in Lagos-Ibadan Expressway auto crash

He disclosed that the apex bank was working with relevant authorities to vacate some subsisting judicial pronouncements on the subject.

He assured that all CBN branches across the country would continue to issue and accept all old and redesigned denominations of Nigerian banknotes to and from Deposit Money Banks.

This is as he urged members of the public to accept all banknotes (old or redesigned) for day-to-day transactions.

While calling on Nigerians to handle the banknotes with utmost care to protect and safeguard their life cycle, he encouraged all “to embrace alternative modes of payment, e-channels, for their day-to-day transactions.”

It would be recalled that the CBN introduced redesigned N200, N500 and N1,000 denominations in October 2022.

It also set certain deadlines for legal tender status of the old design of the denominations to cease to exist.

But in March, the Supreme Court extended the validity of the old N200, N500, and N1,000 till December  31.

President Bola Tinubu, during his inauguration on May 29, promised to revisit the Naira redesign policy.

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CBN’s Director, Corporate Communications, Dr Isa AbdulMumin, made this known on Thursday in Marrakech.

AbdulMumin also announced that importers of all the 43 items previously restricted in 2015 were now allowed to purchase foreign exchange in the Nigerian FX market.

He said that the apex bank would continue to promote orderliness and professional conduct by all participants in the market.

According to him, the idea was to ensure that market forces determined exchange rates on a “Willing Buyer-Willing Seller” principle.

“The CBN reiterates that the prevailing FX rates should be referenced from platforms such as the CBN website, FMDQ, and other recognised or appointed trading systems.

READ ALSO: Makinde constitutes Oyo State Elders’, Advisory councils

“This is to promote price discovery, transparency, and credibility in the FX rates,” he said.

The director said that as part of its responsibility to ensure price stability, the apex bank would boost liquidity in the Nigerian FX market by interventions from time to time.

“As market liquidity improves, these CBN interventions will gradually decrease.

“The CBN is committed to accelerating efforts to clear the FX backlog with existing participants and will continue dialogue with stakeholders to address the issue.

“The CBN has set as one of its goals the attainment of a single FX market. Consultation is ongoing with market participants to achieve this goal,” he said.

Source: NAN

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Cardoso was appointed on September 15 by President Bola Tinubu, to replace Mr. Godwin Emefiele who is said to have now formally resigned.

The announcement was made on Friday by the Director of Corporate Communication of the CBN, Isa AbdulMumin, in a statement he issued.

According to the spokesman, Cardoso is working in acting capacity pending the confirmation of his appointment by the Senate.

He added that the deputy governors-designate of the bank have assumed duty alongside Cardoso in acting capacity too, sequel to the formal resignations of Mr. Folashodun Shonubi, Mrs. Aishah Ahmad, Mr. Edward Lametek Adamu, and Dr. Kingsley Obiora, as deputy governors of the CBN.

READ ALSO: CBN postpones September MPC meeting indefinitely

The spokesman said Cardoso and his colleagues subscribed to the relevant oaths of office at a brief ceremony held at the Bank’s head office in Abuja on Friday, September 22, 2023, and have settled down to the task of administering monetary and financial sector policies of the federal government.

An economic and development policy advisor, financial sector leader, former chairman of CitiBank Nigeria and Commissioner for Economic Planning and Budget in Lagos State, Cardoso brings over three decades of managerial experience on board.

An alumnus of Aston University, Birmingham, United Kingdom, he studied managerial and administrative studies.

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CBN Director of Corporate Communications, Isa AbdulMumin, announced the postponement in a statement in Abuja.

The meeting was earlier scheduled to hold on September 25 and September 26.

“The MPC of the CBN has deferred its 293rd meeting scheduled for Monday and Tuesday.

“A new date will be communicated in due course,” AbdulMumin said.

He did not offer any reasons for the postponement.

Meanwhile, a financial expert, Mr Okechukwu Unegbu, said that the postponement might not be unconnected with the ongoing probe of the apex bank under the leadership of its suspended governor, Godwin Emefiele.

Unegbu, a past president of the Chattered Institute of Bankers of Nigeria, CIBN, said that the appointment of a new management team for the apex bank, while Emefiele and his team were yet to be officially removed might also be responsible for the indefinite postponement.

He, however, said that it had no serious negative implications on the country’s economy.

“The status quo just has to be retained until the new CBN governor takes over and begins to implement his own policies, ” he said.

At the last MPC meeting in July, the apex bank had increased the benchmark interest rate (MPR) by 25 basis points to 18.75 per cent from 18.5 per cent, representing the highest interest rate in 22 years.

President Bola Tinubu recently approved the nomination of Mr Olayemi Cardoso as the new governor of the CBN.

Tinubu also approved the nomination of four new deputy governors for the apex bank.

The newly nominated deputy governors are Emem Usoro, Abdullahi Dattijo, Philip Ikeazor, and Bala Bello.

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The CBN made the denial on Thursday in a statement by Isa AbdulMumin, CBN Acting Director, Corporate Communications.

The CBN was reacting to a viral news that it had devalued the Naira from about N465 to N630 to a dollar.

“The attention of the CBN has been drawn to a news report by Daily Trust Newspaper of June 1, titled ‘CBN Devalues Naira to 630/one dollar’.

“We wish to state categorically that this news report, which in the imagination of the newspaper, is replete with outright falsehoods and destabilising innuendos,” he said.

According to AbdulMumin, the report reflected the potentially willful ignorance of the media organisation as to the workings of the Nigerian Foreign Exchange Market.

“For the avoidance of doubt, the exchange rate at the Investors’ and Exporters’ (I&E) window traded this morning June 1, at N465/one dollar and has been stable around this rate for a while.

“The public is hereby advised to ignore the news report by Daily Trust in its entirety, as it is speculative and calculated at causing panic in the market.

“Media practitioners are advised to verify their facts from the CBN before publishing in order not to misinform the public,” he said.

Source: NAN

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Its Acting-Director, Corporate Communications, Alhaji Isa Abdulmumin, said this in a statement on Wednesday.

Abdulmumin said that the claim was completely false and therefore advised bank customers to be guided accordingly.

“The attention of the Central Bank of Nigeria has been drawn to reports suggesting that the Bank Verification Number issued by the Bank in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS) expires after a ten-year period.

“Contrary to these claims, we wish to clarify that the BVN issued in Nigeria has no expiry date.

“Once a customer’s biometrics have been captured and enrolled in the database of NIBSS, the BVN remains for life.

“However, the Regulatory Framework for BVN issued by the CBN in 2021 stipulates that customers can only change their records due to certain conditions spelt out in the document and after being cleared by relevant authorities.

“Therefore, we urge bank customers in the country, especially those whose biometrics have been captured by the system, to continue using their unique identifiers as they last their entire lifetime,” he said.

The BVN is an 11 digit number that acts as an individual’s universal ID in all banks in Nigeria.

It ensures a customer can engage securely in transactions at any Point of Banking operations.

Source: NAN

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CBN’s Acting Director, Corporate Communications Department, Isa AbdulMumin, made this known in a statement in Abuja on Sunday.

The statement was a reaction to a viral news on social media that the apex bank was contemplating the withdrawal of the recently redesigned N1,000, N500 and N200 currency banknotes from circulation.

“We wish to emphatically state that such speculation is unfounded and a ploy by some interests to cause panic among members of the public.

“The new and old currency notes have been circulating side by side.

“The CBN has been taking delivery of a good quantity of the redesigned banknotes from the Nigeria Security Printing and Minting Company Limited,” he said.

AbdulMumin said that the apex bank was committed to supplying the “approved indent” for the smooth running of the economy.

“We, therefore, urge members of the public to disregard any report suggesting a phase-out of the redesigned currency.

“For the avoidance of doubt, the redesigned and old notes will continue to be accepted as legal tender.

“They will circulate side-by-side for transactions ahead of the December 31 deadline, when the old N1,000, N500 and N200 banknotes will eventually be phases out,” he said.

Source: NAN

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According to a statement issued by Dr Isa AbdulMumin, the Acting Director, Corporate Communications of the CBN, it is part of a coordinated effort to ease the circulation of banknotes of various denominations.

AbdulMumin said that the CBN also directed all commercial banks to open for operation on Saturdays and Sundays to meet their customers’ demand.

He said that the CBN Governor, Mr Godwin Emefiele, would personally monitor compliance of the commercial banks to the directive.

According to him, a substantial amount of money in various denominations had been received by the banks for onward circulation to their customers.

“The CBN has also directed all banks to load their Automated Teller Machines (ATMs) as well as conduct physical operations in the banking halls through the weekends.

“Branches of commercial banks will operate on Saturdays and Sundays to attend to customers’ cash needs,” he said.

He urged Nigerians to exercise patience as the current situation would soon ease off with the injection of more banknotes into circulation.

Source: NAN

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The Acting Director of Corporate Communications, CBN, Isa AbdulMumin, made this declaration in a statement he issued Monday evening.

The statement came shortly after President Muhammadu Buhari broke his silence on the refusal of the CBN to comply with the directive of the Supreme Court that the old notes remained legal tender until December 31 of this year.

The president, in a statement by his media aide, Mallam Garba Shehu, said he had no hand in the obstinacy of the CBN and the Attorney General of the Federation, Abubakar Malami, regarding the controversy over the cashless policy and the order of the Supreme Court.

The statement by the spokesman of the CBN declaring  that the old notes remained legal tender reads:

“In compliance with the established tradition of obedience to court orders and sustenance of the Rule of Law Principle that characterized the government of President Muhammadu Buhari, and by extension, the operations of the Central Bank of Nigeria (CBN), as a regulator, Deposit Money Banks operating in Nigeria have been directed to comply with the Supreme Court ruling of March 3, 2023.

“Accordingly, the CBN met with the Bankers’ Committee and has directed that the old N200, N500 and N1000 banknotes remain legal tender alongside the redesigned banknotes till December 31, 2023.

“Consequently, all concerned are directed to conform accordingly.”

The Supreme Court had on March 3, ruled in favour of the continued use of Nigeria’s old naira notes until December 31, 2023.

By the verdict which was given on Friday, the old N200, N500 and N1,000 notes are to remain in circulation because they are legal tender.

The Supreme Court declared the naira redesign policy as against the 1999 constitution and declared it annulled.

The court, in the judgement read by Justice Emmanuel Agim, dismissed the preliminary objections by the defendants – the Attorney General of the Federation, Bayelsa and Edo states.

It declared that the court had the jurisdiction to entertain the suit.

The apex court said the policy had led to Nigerians engaging in the obsolete trade by barter in this modern age in order to survive.

It would be recalled that the suit was initially instituted by the government of Kogi, Kaduna and Zamfara states, to challenge the legality of the new policy.

They were later joined by other states.

However, despite the Supreme Court judgement since March 3, the CBN had been taciturn, a situation which created controversy as to whether or not Nigerians could spend the old notes.

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