National News
Buhari’s nationwide address on new naira

Buhari’s nationwide address on new naira
President Muhammadu Buhari has approved the contincontinous use of the old N200 as legal tender till April 10.
The President made this known on Thursday morning during an address to Nigerians following a series of controversies and protests across the country.
See the full text below;
My Dear Compatriots,
I have found it necessary to address you today, on the state of the nation and to render an account of the efforts of our administration to sustain and strengthen our economy, enhance the fight against corruption and sustain our gains in the fight against terrorism and insecurity which has, undoubtedly, been impacted by several internal and external factors.
- Particularly, I am addressing you, as your democratically elected President, to identify with you and express my sympathy, over the difficulties being experienced as we continue the implementation of new monetary policies, aimed at boosting our economy and tightening loopholes associated with money laundering.
- Let me re-assreassureians, that strengthening our economy, enhancing security and blockage leakages associated with illicit financial flows remain the top priority of our administration. And I shall remain committed to my oath of protecting and advancing the interest of Nigerians and the nation, at all times.
- In the last quarter of 2022, I authorised the Central Bank of Nigeria (CBN) to redesign the N200, N500, and N1000 Nigerian banknotes.
- For a smooth transition, I similarly approved that the redesigned banknotes should circulate concurrently with the old bank banknotes on 31 January 2023, before the old notes, cease to be legal tender.
- In appreciation of the systemic and human difficulties encountered during implementation and in response to the appeal of all citizens, an extension of ten days was authorized till 10th February 2023 for the completion of the process. All these activities are being carried out within the ambit of the Constitution, the relevant law under the CBN Act 2007 and in line with global best practices.
- Fellow citizens, while I seek your understanding and patience during this transient phase of implementation, I feel obliged to avail you of a few critical points underpinning the policy decision. These include:
a. The need to restore the statutory ability of the CBN to keep firm control over the money in circulation. In 2015 when this administration commenced its first term, Currency-in-Circulation was only N1.4 trillion.
b. The proportion of currency outside banks grew from 78%in 2015 to 85% in 2022. As of October 2022, therefore, currency in circulation had risen to N3.23 trillion; out of which only N500 billion was within the Banking System while N2.7 trillion remained permanently outside the system; thereby distorting the financial policy and efficient management of inflation;
c. The huge volume of Bank Notes outside the banking system has proven to be practically unavailable for economic activities and by implication, retard the attainment of potential economic growth;
d. Economic growth projections make it imperative for government to aim at expanding financial inclusion in the country by reducing the number of the unbanked population; and
e. Given the prevailing security situation across the country, which keeps improving, it also becomes compelling for government to deepen its continuing support for security agencies to successfully combat banditry and ransom-taking in Nigeria
- Notwithstanding the initial setbacks experienced the evaluation and feedback mechanism set upset-revealed that gains have emerged from the policy initiative.
- I have been reliably informed that since the commencement of this program, about N2.1 trillion out of the banknotes previously held outside the banking system, had been successfully retrieved.
- This represents about 80% of such funds. In the short to medium and long terms, therefore, it is expected that there would be:
a. A strengthening of our macroeconomic parameters;
b. Reduction of broad money supply leading to a deceleration of the velocity of money in the economy which should result in fewer pressures on domestic prices;
c. Lowering of Inflation as a result of the accompanying decline in the money supply that will slow the pace of inflation;
d. Collapse of Illegal Economic Activities which would help to stem corruption and acquisition of money through illegal ways;
e. Exchange Rate stability;
f. Availability of Easy Loans and lowering of interest rates; and
g. Greater visibility and transparency of our financial actions translating to efficient enforcement of our anti-money laundering legislations.
- I am not unaware of the obstacles placed on the path of innocent Nigerians by unscrupulous officials in the banking industry, entrusted with the process of implementation of the new monetary policy. I am deeply pained and sincerely sympathise with you all, over these unintended outcomes.
- To stem this tide, I have directed the CBN to deploy all legitimate resources and legal means to ensure that our citizens are adequately educated on the policy; enjoy easy access to cash withdrawal through the availability of appropriate amounts of currency; and abilihave try to make deposits.
- I have similarly directed that the CBN should intensify collaboration with anti-corruption agencies so that any institution or person(s) found to have impeded or sabotaged the implementation should be made to bear the full weight of the law.
- During the extended phase of the deadline for currency swap, I listened to invaluable pieces of advice from well-meaning citizens and institutions across the nation.
- I similarly consulted widely with representatives of the State Governors as well as the Council of State. Above all, as an administration that respects the rule of law, I have also noted that the subject matter is before the courts of our land and some pronouncements have been made.
- To further ease the supply pressures, particularly to our citizens, I have givenapprovedCBN that the old N200 bank notes be released back into circulation and that they soothed also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from February 10, 2023, to April 10, 2023, when the old N200 notes cease to be legal tender.
- In line with Section 20(3) of the CBN Act 2007, all existing old N1000 and N500 notes remain redeemable at the CBN and designated points.
- Considering the health of our economy and the legacy we must bequeath to the next administration and future generations of Nigerians, I admonish every citizen to strive harder to make their deposits by taking advantage of the platforms and windows being provided by the CBN.
- Let me assure Nigerians that our administration will continue to assess the implementation to ensure Nigerians are not unnecessarily burdened. In this regard, the CBN shall ensure that new notes become more available and accessible to our citizens through the banks.
- I wish to once more appeal for your understanding till we overcome this difficult transient phase within the shortest possible time.
- Fellow citizens, on the 25th of February, 2023 the nation would be electing a new President and National Assembly members. I am aware that this new monetary policy has also contributed immensely to the minimization of the influence of money in politics.
- This is a positive departure from the past and represents a bold legacy step by this administration, towards laying a strong foundation for free and fair elections.
- I urge every citizen, therefore, to go out to vote for their candidates of choice without fear, because security shall be provided and your vote shall count.
- I however admonish you to eschew violence and avoid actions capable of disrupting the electoral processes. I wish us all a successful General Electelectionank you for listening. God bless the Federal Republic of Nigeria.
Buhari’s nationwide address on new naira
Education
Billionaire Indimi inaugurated for a second term as Pro Chancellor of the Kashim Ibrahim University Maiduguri

Billionaire Indimi inaugurated for a second term as Pro Chancellor of the Kashim Ibrahim University Maiduguri
By: Bodunrin Kayode
Nigerian Billionaire Dr Mohammed Indimi has been inaugurated for the second term as Pro Chancellor of the Borno State government owned Kashim Ibrahim University (KIU).
Indimi and his team were inaugurated monday by Governor Babagana Zulum to continue developing the state owned University which has grown massively since he took charge four years ago as pro chancellor.
Speaking after their inauguration, Zulum, tasked the Governing Council of the University to foster the culture of cutting-edge research, innovation and community development to address the challenges and opportunities of the post-insurgency recovery efforts.
The Governor noted that the inauguration is part of the broader effort to reposition the University as a beacon of knowledge, innovation and moral rectitude, not just for the North-East, but for Nigeria as a whole.
He stressed that the challenges before the new council was significant as the opportunities are myriad adding that “we task you with fostering a culture of rigorous research, innovative teaching and community-relevant curricula that addresses the unique challenges and opportunities of our post-insurgency recovery and development”.
Governor Zulum expressed delight that the student population alone had grown from a mere 300 in the beginning to about 10,000 in the last 6 years.
He charged the new council to prioritize the welfare of both staff and students and uphold the highest standards of academic excellence, transparency and prudent management of resources.
“You are now the legal custodians of this university’s destiny, entrusted with a sacred mandate to provide strategic direction, ensure financial prudence, uphold the highest standards of academic excellence and safeguard the welfare of both staff and students.
“This ceremony is a fulfilment of our administration’s unwavering commitment to strengthening the governance structures of all tertiary institutions in Borno State.
“It is pivotal to repositioning this University as a beacon of knowledge, innovation and moral rectitude, not just for the North-East, but Nigeria as a whole”.
“Section 1(1) (c) of the Third Schedule of the Kashim Ibrahim University Law, 2018, as amended, empowers me to constitute a Governing Council as the supreme governing body of the University charged with the general control and superintendence of the policy, finances and administration of the institution”.
“I offer my heartfelt congratulations to you all. Your selection was not by chance. It was a deliberate choice based on your proven integrity, vast experience and demonstrable passion for education and community development.
“In particular, I wish to address our Pro-Chancellor and Chairman of Council, Alhaji (Dr) Muhammadu Indimi. Your legendary philanthropy and unwavering support for education are well-known,” he concluded.
Responding, the Pro-Chancellor and Chairman of Council, Dr Muhammadu Indimi said he graciously accepted the appointment with the aim of serving his state and promised to provide positive change in the University.
“I accepted this position because I have to support my state. With my able lieutenants, we promise to provide positive change in the University,” Indimi assured.
Billionaire Indimi inaugurated for a second term as Pro Chancellor of the Kashim Ibrahim University Maiduguri
National News
Actively Implementing the Global Governance Initiative, Jointly Building a China-Africa and China-Nigeria Community with a Shared Future

Actively Implementing the Global Governance Initiative, Jointly Building a China-Africa and China-Nigeria Community with a Shared Future
By H.E. Yu Dunhai, Chinese Ambassador to Nigeria
On September 1, 2025, President Xi Jinping solemnly proposed the Global Governance Initiative (GGI) at the Shanghai Cooperation Organization Plus Meeting held in Tianjin, China. With itsprofound insight into the times, broad humanistic commitment and clear value orientation, this initiative aims to address a pressing subject of our times which has attracted high attention from the international community, namely what kind of global governance system to build and how to reform and improve global governance. It further contributes Chinese wisdom and proposes a Chinese approach to strengthening and improving global governance, injecting more stability and certainty into a turbulent world.
Today, transformative changes unseen in a century are accelerating across the world, while the lingering gloom of Cold War mentality, hegemonism, and protectionism continues to cast a shadow. Humanity is confronted with unprecedented challenges as the world enters a new phase of turbulence and transformation, and global governance now stands at a critical juncture. The world is in greater need of strengthening global governance than ever before, and the GGI comes at an opportune time. Regarding it as the fundamental guideline to uphold the purposes and principles of the U.N. Charter and practice the vision of global governance featuring extensive consultation and joint contribution for shared benefit, the GGI seeks to promote the building of a more just and equitable global governance system and work together for a community with a shared future for humanity.
To be more specific, the GGI embodies five core concepts: First, adhere to sovereign equality. All countries, regardless of size, strength or wealth, shall have the right to participate in, make decisions in and benefit from the global governance as equals. Second, abide by the international rule of law. There shall be no double standards, and the self-defined rules of a few countries must not be imposed upon others. Third, practice multilateralism.The irreplaceable and crucial role of the United Nations in global governance must be given full play.Fourth, advocate a people-centered approach. It is essential to ensure that people of all nations jointly participate in global governance and share in its outcomes. Fifth, focus on taking real actions. More tangible results should be delivered, and global governance should avoid lagging behind the times or becoming fragmented.
The above five core concepts advocated by the GGI are closely aligned with the inherent needs of China-Africa and China-Nigeria cooperation. Africa, which includes 54 United Nations member states, is the continent with the largest concentration of developing countries. It is not only an important participant in global governance but also a major force driving global multi-polarization. Nigeria, as Africa’s most populous country and majoreconomy, serves as a critical growth engine on the continent and an influential representative of the Global South. It is also a key strategic partner for China in Africa. It is fair to say that China-Africa and China-Nigeria cooperation not only enjoy a solid historical foundation but also correspond to practical needs of reformingthe global governance system and transforming the global order.
The year 2025 marks the 80th anniversary of the establishment of the United Nations, which represented a pioneering practice by the international community in initiating global governance. In 1971, African countries strongly supported the restoration of the lawful seat of the People’s Republic of China in the United Nations, with Nigeria casting a sacred vote in favor. This moment marked the beginning of the joint participation of African nations and the People’s Republic of China in global governance. In 1992, China worked closely with the Group of 77, in which African countries served as a major force, ultimately leading to the incorporation of the principle of “common but differentiated responsibilities” into the United Nations Framework Convention on Climate Change. Since the 21st century, China has actively promoted solutions to address the under-representation of African countries in the United Nations, advocating that the Security Councilreform must genuinely reflect international fairness and justice, prioritize correcting historical injustices faced by Africa, and support special arrangements to address Africa’s demands as a priority. In 2022, China took the lead in explicitly expressing support for the African Union’s accession to the G20 and facilitated the formal admission of the African Union as a member of the G20 the following year. The Beijing Declaration issued at the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) in 2024emphasized that China supports African countries in playing a greater influential role in global governance, particularly within inclusive frameworks addressing global issues, and will continue to support Africa-related priorities in G20 affairs. China also appreciated and welcomed more African countries joining the BRICS family. Shortly thereafter, Nigeria, with China’s active support, became a BRICS partner country. China firmly supports Africa’s efforts to enhance its international standing and voice, fully demonstrating the spirit of China-Africa friendship and cooperation, and profoundly illustrating China’s role as a major country in promoting the improvement of global governance.
The year 2025 also marks the 25thanniversary of the establishment of theFOCAC. The FOCAC mechanism itself is a model of the vision of the global governance featuring extensive consultation and joint contribution for shared benefit. Guided by the principles of sincerity, real results, amity, and good faith towards Africa and the principle of pursuing the greater good and shared interests, China is committed to supporting Africa in advancing its integration and enhancing its capacity for self-drivendevelopment. From the “Ten Cooperation Plans” and the “Eight Major Initiatives” tothe “Nine Programs” and the recently launched “Ten Partnership Actions for China-Africa Collaboration on Modernization,” a series of practical cooperation plans have focused on Africa’s priority areas such as infrastructure connectivity, healthcare, agricultural modernization, and capacity building. This cooperation comes with no political strings attached, emphasizesaction-oriented approaches and aims to enhance the “self-development capacity” of African countries, representing a tangible contribution to building a more just and equitable global governance system. On September 3, 2024, Nigerian President Bola Ahmed Tinubu paid a state visit to China and attended the FOCAC Beijing Summit. The leaders of the two countries jointly announced the elevation of China-Nigeria relations to a comprehensive strategic partnership and were committed to building a high-level China-Nigeria community with a shared future. Over the past year, China-Nigeria relations have achieved rapid growth across all sectors. We have more frequent high-level exchanges, deeper political and strategic trust as well as increasingly substantial outcomes in practical cooperation. We have supported each other on issues concerning our respective core interests and major concerns, while maintaining sound communication and coordination in international and regional affairs under a results-oriented approach. We can proudly say that China and Nigeria are setting an exemplary model for South-South cooperation.
In conclusion, Chinese president Xi Jinping has proposed four major initiatives to date: the Global Development Initiative (GDI), the Global Security Initiative (GSI), the Global Civilization Initiative (GCI), and the Global Governance Initiative (GGI). Together, these initiatives form the four pillars for building a community with a shared future for mankind. The GDI focuses on promotinginternational cooperation on development, the GSI on encouraging dialogue and consultation over international discord, the GCI on promoting exchanges and mutual learning among civilizations, and the GGI on the direction, principle and path for reforming the global governance systems and institutions. The four initiatives have their respective priorities and can be pursued simultaneously. They will each be a source of positive energy for a changing and turbulent world and impetus for humanity’s development and progress.
China is willing to work with African countries, including Nigeria, under the framework of the GGI to promote reforms in the UN Security Council and the international financial system, to make the existing international system and international institutions better at taking actions and working effectively, to step upcoordination among multilateral bodies, and to prioritize consensus-building in such areas as the international financial architecture, artificial intelligence, cyberspace, climate change, trade and outer space to bring about early harvests.
The successful practices of China-Africa and China-Nigeria cooperation demonstrate that the GGI embodies strong vitality and broad prospects for development. Moving forward, China will continue to stand shoulder to shoulder with African countries, especially our Nigerian friends, to actively advance the GGI, jointly address global challenges and work toward building a community with a shared future for mankind.
Actively Implementing the Global Governance Initiative, Jointly Building a China-Africa and China-Nigeria Community with a Shared Future
National News
Nigeria Sets for Cyber, Digital Diplomacy, Creates Cyber Unit at Foreign Ministry

Nigeria Sets for Cyber, Digital Diplomacy, Creates Cyber Unit at Foreign Ministry
By: Michael Mike
Minister of Foreign Affairs, Ambassador Yusuf Tuggar on Tuesday announced the creation of a Cyber Diplomacy Unit within the Ministry as part of the efforts to keep the nation’s diplomatic cycle abreast of happenings in the cyber and digital space.
Tuggar noted that the unit is to coordinate Nigeria’s cyber and digital-related foreign policy and ensure Nigeria’s voice becomes influential in international cyberspace governance.
He noted that this has become imperative in the evolving technological space, which has come to redefine the foundations of diplomacy.
The Minister speaking at the seminar on anticipatory cyber, digital diplomacy organized by the Ministry of Foreign Affairs; an initiative designed to strengthen Nigeria’s foreign policy architecture and equip diplomats with the necessary tools to confront the challenges of the emerging digital age, said: “In the spirit of this forward-looking vision, the Ministry of Foreign Affairs has established a dedicated Cyber Diplomacy Unit. The Unit’s mandate is clear: to coordinate Nigeria’s cyber-related foreign policy across all diplomatic platforms, build capacity for cyber negotiations, champion ethical and inclusive digital governance, foster public–private partnerships for national cyber resilience and ensure that Nigeria’s voice is influential in global cyberspace governance.”
He explained that: “We are living through a historic transformation. The convergence of disruptive technologies, shifting geopolitical alignments, and deepening digital interdependence is redefining the foundations of diplomacy.
“From artificial intelligence and quantum computing, to the geopolitics of data and the militarisation of cyberspace, the very nature of statecraft is being rewritten before our eyes.
“Nigeria must not be a mere bystander, we must act with purpose, to position ourselves as a principled, capable and forward-looking actor in the evolving global digital order.”
The Minister further stressed that the new global order as orchestrated by technology “requires embedding anticipatory, cyber and digital diplomacy into the core of our foreign service, our national security architecture and our multilateral engagements.”
Tuggar noted that “anticipatory diplomacy provides us with the ability to detect early warning signals, foresee systemic shocks and plan strategically for the future, whether in the global race for critical minerals, the regulation of artificial intelligence, or the restructuring of global supply chains.”
He therefore stated that the nation’s “diplomats must be trained, not merely to react, but to influence events before they unfold.”
The Minister stressed that cyber diplomacy is about how we reach global standards to combat cybercrime and cyberwarfare, “how we balance national sovereignty with bilateral treaties and multilateral co-operation. It is how we engage with our partners to tackle malicious activities, protect critical infrastructure and support the integrity of elections and other interests vital to peace, stability and progress. Cyber diplomacy is about how we work together on data privacy, internet freedom and control over information. It is about working together on capacity building and sharing expertise. We hear a lot about AI.”
He added that “The purpose of cyber diplomacy is to help systems to catch up, to promote the best technology can do to accelerate growth, stability and freedom.”
He therefore said that the country can learn from parallel initiatives, such as the 2018 Paris Call for Trust and Security in Cyberspace, or the EU’s Cyberdiplomacy toolbox.
He also disclosed that the challenges confronting the country are urgent, and delicate; with state-sponsored hacking, as well as criminal and non-state actors, which has brought the country into the global equation mix.
“As we seek greater influence within ECOWAS, the African Union and the United Nations, our engagement must be anchored in sovereignty, trust, and innovation.
“We must lead Africa’s digital future, training a new generation of cyber negotiators, expanding regional incident response capabilities, and championing African-led solutions to global digital challenges. This includes advancing climate-conscious data practices and ethical AI development,” he added.
The minister described as Nigeria’s digital gift to the world the launch of the Anticipatory, Cyber, and Digital Diplomacy Masterclass Series for diplomats from Africa and the Global South.
He said it is an open platform designed to build a globally competitive diplomatic corp.
On his part, the Minister of Justice and Attorney General of the Federation, Lateef Fagbemi said the Federal Ministry of Justice has a crucial role to play in this new diplomatic paradigm, to ensure legal
frameworks are updated to address these emerging challenges.
He assured that the Ministry is committed to collaborating with security agencies,
foreign affairs officials, the private sector, and civil society to build a comprehensive and effective strategy.
Fagbemi said: “You will agree with me that the 21st century has introduced a
paradigm shift in the nature of conflict, communication, and cooperation, demanding a fundamental transformation of traditional statecraft. The rise of a globally interconnected digital
landscape presents both unprecedented opportunities and complex challenges, rendering traditional diplomatic methods insufficient.
“As Nigeria’s Chief Law Officer, the Ministry of Justice is positioned to address this new reality with strategies that are proactive,
technologically astute, and ethically grounded.”
Nigeria Sets for Cyber, Digital Diplomacy, Creates Cyber Unit at Foreign Ministry
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