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
National News
Sultan of Sokoto calls for proper understanding of jihad, says Islam abhors extremism

Sultan of Sokoto calls for proper understanding of jihad, says Islam abhors extremism
By: Zagazola Makama
The Sultan of Sokoto, Alhaji Sa’ad Abubakar III, has stressed the need for Nigerians to understand the true meaning of jihad, noting that it is not about violence but about striving for excellence in all spheres of life.
The Sultan stated this on Thursday in Abuja at the public presentation of “Scars: Nigeria’s Journey and the Boko Haram Conundrum,” a book authored by former Chief of Defence Staff, Gen. Lucky Irabor (rtd.).
He cautioned against misinterpretations of Islamic concepts, saying extremists and uninformed commentators had for decades wrongly associated jihad with terrorism and violence against non-Muslims.
“Jihad simply means striving — striving to be a better Muslim, a better Christian, a better citizen, and a better human being. It is not about killing anyone. Islam abhors extremism, and no true Muslim can claim to follow the teachings of the Prophet while embracing violence,” the Sultan said.
He explained that Islam, properly understood, promotes peaceful coexistence and good governance, adding that Islamic teachings have over the years helped shape Nigeria’s democratic journey by emphasising justice, accountability, and leadership responsibility.
According to him, Islamic institutions such as mosques, scholars, and traditional councils continue to play a stabilising role in the country by mediating conflicts, guiding leaders, and educating citizens on tolerance and civic duties.
“Islam is not about seizing power; it is about ensuring good governance and accountability in society. Our democracy has benefitted from these values because justice and fairness are principles rooted both in the Qur’an and in democratic practice,” he said.
The Sultan also called for stronger interfaith dialogue, stressing that Nigeria’s unity depends on mutual understanding between Christians and Muslims.
“If I know who you are, and you know who I am, we can live in peace. Understanding one another is the foundation for national security and stability,” he added.
He commended Gen. Irabor for writing the book, describing it as a timely resource that not only documents the scars of insurgency but also provides insights for policy, governance, and national healing.
The launch attracted dignitaries including former Presidents Olusegun Obasanjo and Goodluck Jonathan, the Minister of Defence, service chiefs, traditional rulers, senior military officers, and members of the diplomatic corps.
Sultan of Sokoto calls for proper understanding of jihad, says Islam abhors extremism
National News
Jonathan says Boko Haram insurgency too complex, calls for holistic solutions

Jonathan says Boko Haram insurgency too complex, calls for holistic solutions
By Hamza Suleiman
Former President Goodluck Jonathan has said that the Boko Haram insurgency remains one of the most complex and enduring security challenges in Nigeria’s history, warning that military action alone cannot end the crisis.
Jonathan stated this on Thursday in Abuja at the public presentation of Scars: Nigeria’s Journey and the Boko Haram Conundrum, authored by former Chief of Defence Staff, Gen. Lucky Irabor (rtd).
He said that unlike previous crises in Nigeria such as the Niger Delta militancy and ethno-religious violence, the Boko Haram insurgency carried deeper scars because of its external connections, extremist ideology, and advanced weaponry.
“Boko Haram is more complex than what many people imagine. At some point, their fighters had more ammunition than our soldiers, which clearly showed that external groups were deeply involved,” Jonathan said.
The former President noted that the abduction of the Chibok schoolgirls in 2014 remained one of the most painful scars of his administration, stressing that no form of cosmetic remedy could erase it from the nation’s collective memory.
He recalled his personal engagement with Niger Delta militants as Vice President, saying that his decision to personally visit their camps without armed escorts was borne out of the conviction that dialogue must complement military action.
“In the Niger Delta, I met the militants in their camps. We succeeded in restoring peace not only because of military action but because we engaged them, listened to them, and created opportunities for their communities. That approach worked,” he said.
Jonathan, however, emphasised that Boko Haram presented a different challenge. According to him, the insurgency must be tackled through a holistic strategy that combines security operations with good governance, poverty reduction, youth empowerment, and social justice.
He said: “We cannot treat Boko Haram simply as a law-and-order problem. It is rooted in poverty, exclusion, and broken dreams. Only a comprehensive approach will deliver lasting peace.”
According to him, Nigeria must adopt a similar approach to Boko Haram by tackling poverty, unemployment, and social exclusion in communities vulnerable to extremist recruitment.
He commended Gen. Irabor for documenting his reflections, saying the book would enrich national understanding of insurgency and guide future leaders in shaping policy responses.
“Those who were directly involved must tell their stories. This book will help the nation understand what really happened, what lessons we must learn, and how we can do better in the future,” he added.
The event attracted dignitaries including former President Olusegun Obasanjo, former National Security Adviser Maj.-Gen. Babagana Monguno (rtd.), service chiefs, ministers, members of the diplomatic corps, and traditional rulers.
Jonathan says Boko Haram insurgency too complex, calls for holistic solutions
National News
Nigeria@65: FG’s programmes improving welfare of Nigerians- NOA

Nigeria@65: FG’s programmes improving welfare of Nigerians- NOA
The National Orientation Agency (NOA), on Wednesday said that the Federal Government’s programmes and policies under President Bola Tinubu-led administration were improving the welfare of Nigerians.
Mrs Adaline Patari, the State Director of NOA, Gombe State office, stated this shortly after a road show to mark Nigeria’s 65th Independence Day anniversary in Gombe.
Patari said that programmes and policies of Tinubu-led administration had supported many Nigerians from the student’s loan to conditional cash transfer to support to small businesses amongst others.
She stated that the initiatives by the present administration had restored hope and put the country amongst serious countries pursuing better reforms to improve their economy while revamping infrastructure.
According to her, many undergraduates benefitting from the student’s loan scheme which has removed all financial hindrances impeding access to tertiary education now feel a sense of belonging.
She said that the programmes and policies of the Federal Government have benefitted many households and improved their welfare in line with the Renewed Hope Agenda of President Tinubu.
“The reforms of the Federal Government are working and many persons are proud to be Nigerians and more persons are now trying to do the right things as Nigerians.
“People are beginning to see themselves as proud Nigerians and that confidence of being a Nigerian is being restored.
“Today, many Nigerians are benefitting from the programmes of the current administration, this means that the country is now working for them,” she said.
While acknowledging that there were still challenges that needed to be addressed, Patari said, at 65, we have made tremendous progress especially working together in peace and unity.
She urged Nigerians to continue to support Tinubu administration’s programmes towards building a better country that works for all Nigerians.
The state director said that with the necessary reforms being carried out and already yielding results in the economic, agriculture, security and other sectors, more Nigerians would be prouder to be Nigerians in the future.
“Today, the country is progressing and we are united; we are now prouder to be Nigerians and I can tell you that the labour of our heroes past, indeed is never in vain,” she added.
Commending the contributions of youths to national development, Patari urged them to have a positive mind-set towards Nigeria and to always express optimism of a better Nigeria for everyone.
Patari also lauded the renewed strength with which NOA under the Director General of the agency, Malam Lanre Issa-Onilu was being driven.
She said that government’s policies and programmes were getting more supports from Nigerians because of the constant engagements of Nigerians by the NOA nationwide.
The event also featured sensitisation of residents on Federal Government’s policies, programmes and the need for the people to support the current administration’s Renewed Hope Agenda
Nigeria@65: FG’s programmes improving welfare of Nigerians- NOA
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