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
ABU Wins Inaugural ECOWAS Moot Court Competition

ABU Wins Inaugural ECOWAS Moot Court Competition
By: Michael Mike
Ahmadu Bello University (ABU) Zaira has emerged the winner of the inaugural Economic Community of West African States (ECOWAS) Moot Court Competition.
The competition which had competing for the top prize of N5 million, eight universities, had as first runners up University of Jos carting home N3 million.

Organized by the ECOWAS Community Court of Justice, the competition which came to an end at the weekend, also had law undergraduates from American University, Yola; University of Nigeria, Nsukka; Igbinedion University, Okada; Lagos State University, Ojo; Afe Babalola University, Ado Ekiti, and University of Uyo, Uyo.
The Moot Court Competition, marking a significant step toward deepening youth
engagement in regional integration and justice, was held under the theme “Promoting Regional Integration and Human Rights through Judicial Processes in West Africa,”
In his closing remarks, the Honourable President of the Court, Justice Ricardo Claúdio Monteiro Goncalves, described the event as a “historic milestone” for the ECOWAS Court and a “beacon of hope” for the next generation of legal professionals in West Africa. Applauding the eloquence, analytical acumen, and professionalism displayed by the participants.

He congratulated all the universities represented, declaring that “every team is a winner” for its invaluable contributions.
Justice Goncalves also announced that, following the overwhelming success of the
maiden edition, the Moot Court Competition will become an annual flagship
programme of the Court, with plans to expand participation to universities across all ECOWAS Member States.
“By creating platforms such as this, the Court not only demystifies its work but also plants the seeds of a more robust legal culture—one that upholds justice, human rights, regional cooperation, and the rule of law,” he stated.
Delivering the vote of thanks, the Honourable Vice-President of the Court, Justice Sengu Mohamed Koroma, lauded the competition as a powerful blend of vision and execution. He commended the students for their dedication and decorum and acknowledged the essential roles played by judges, academic mentors, ECOWAS institutions, and development partners.
“Whether or not you won today,” he told the
participants, “you have all emerged as ambassadors of law and justice in the ECOWAS region.”
ABU Wins Inaugural ECOWAS Moot Court Competition
National News
Plastic Pollution: UN Promises Continued Support to Nigeria in Tackling Scourge

Plastic Pollution: UN Promises Continued Support to Nigeria in Tackling Scourge
By: Michael Mike
United Nations (UN) has promised to continue to support Nigeria’s efforts at tackling plastic pollution to bolster sustainable environmental protection.
The promise was given on Friday in Abuja by the UN Resident and Humanitarian Coordinator, Mr Mohamed Fall, while presenting a keynote address at one-day sensitization campaign themed: “Ending plastic pollution” to commemorate the 2025 World Environment Day.
The event was organised by the United Nations Industrial Development Organisation (UNIDO), United Nations Development Programme (UNDP), United Nations Information Centre (UNIC) and Nigerian Environmental Society (NES) and other partners.
Fall said plastic pollution is at crisis level, noting that the passing of the UN resolution to curb plastic pollution marked historic steps towards protecting the environment.
He added that: “Every piece of plastic that litter our soil or blocks our waterways is threatening ecosystem. More dangerous is microplastic that is unfiltered contaminating our food, health and our bodies.
“Across our agencies, the UN is supporting Nigeria to tackle these challenges into pathways for sustainable growth and boost job creation.
“UNDP is strengthening national and state levels in promoting inclusive model; UNIDO is investing in ecosystem friendly industrial solutions, among other things.
“UN in partnership with organisations like Green Hub Africa and NES, is increasing efforts through advocacy centered on building global treaties to end plastic pollution.
“Ending plastic pollution is not only environmental imperative, it is a human right to health, dignity and lead a planned future.”
In his remarks, Programme Officer, UNIDO Regional Office Hub Abuja, Mr Osu Otu, decried ineffective waste management which often result in greenhouse gas emission.
According to him, in Nigeria, it is estimated that plastic accounts for 13 per cent of total sum of waste.
“The plastic waste management if properly harnessed could bolster job creation, private sector driven investment and foreign direct investments in the country.
“In addition, it will reduce plastic leakages into the environment,” Otu said.
The President of NES, Dr Efegbidiki Okobia, said the organisation has evolved beyond environmental campaigns to achieve desired goals.
According to him, there is a gap between separation, collection and distribution of waste during disposal and that is where the challenge is.
He said: “What we now do is take various environmental issues more serious, carry out research and bring it to those who are responsible, which we have done over the years.
“NES partnership with Green Hub Africa and the UN Information Centre has further made us succeed in promoting measures towards ending issues about plastic pollution,” Okobia said.
Plastic Pollution: UN Promises Continued Support to Nigeria in Tackling Scourge
National News
Ban GMO Foods in Nigeria Now, Groups Tells FG

Ban GMO Foods in Nigeria Now, Groups Tells FG
By: Michael Mike
A group, Health of Mother Earth Foundation, Environmental Rights Action/Friends of the Earth Nigeria, and the GMO-free Nigeria Alliance have insisted that the Federal Government should ban the use of genetically modified organisms (GMOs) and their products in Nigeria.
This call was made yesterday, during a media briefing in commemoration of World Food Safety Day, organised virtually by HOMEF with the theme: Caution in Science -Communicating the Risks Associated with GMOs”.
In his remarks, the Executive Director of HOMEF, Dr Nnimmo Bassey stated that the idea of promoting GMO by the government was not to tackle food crisis, stressing that the organism promote monoculture and creating hunger in the system.
He said nullification of previous permits and approvals, “is critical because GMOs are designed not to address food insecurity but to consolidate control of our food and farming system in the hands of a few corporations/seed industries.
This is known by the patent rights enforced on the products, which prohibit farmers from saving, sharing or replanting the seeds. Even those without the patent
restrictions, when replanted, yield poorly.
This is a calculated attack on Nigeria’s food sovereignty and must be seen as such. Seed saving and sharing is an age-long culture in Nigeria, where farming is about 80% informal, with farmers being able to select and improve seeds using traditional methods and being able to exchange the same.”
Bassey however urged that “GMOs should be ban. They are just polluting our food system. We need to decolonise our food system, the National Assembly needs to ban GMO foods”.
In her presentation, ERA’s Deputy Executive Director, Nigeria, Mariann Bassey-Orovwuje regretted that while countries have taken serious action against GMOs, Nigerian leaders refused to consider the deadly implication of consuming foods produced with GMO.
She advised that decision made by the Nigerian government should not just be for the interest of the business stricken men and women but for the general Nigerians.
The ERA’s deputy executive director Orovwuje, noted that Nigeria, currently does not have a policy on open market labelling and as such, the public does not have the right of choice as to whether or not to consume GMOs, adding that “This negates our right of choice and the right to safe food”.
She further noted that there are fundamental flaws with the current Biosafety Regulatory Agency, including that there is no provision on strict liability, which should ensure that the holder of a permit for any GM product takes
responsibility for any negative effects that will ensue.
“Another major flaw in the National Biosafety Management Agency Act is the lack of attention to the Precautionary Principle, which simply advises a halt on any process where there are threats to health or environmental impacts
from the use of GMOs.
“Nigeria needs to critically address waste, which accounts for about 40% of the food produced. In the same vein, Nigeria needs to critically address issues of insecurity/banditry that keep many farmers away from their farms, leading to reduced productivity.”
Orovwuje stressed that Nigeria can transform its agriculture system in an inclusive and sustainable manner by adopting and promoting agroecology which not only ensures increased productivity by improving soil health and biodiversity but also assures
economic resilience for our farmers as well as climate change
resilience”.
In their separate presentation, Dr Ifeanyi Casmir, Prof Tatfeng Mirabeau noted the need for the government to ban GMOs, saying that the effect is killing Nigeria people’s health.
Dr Casmir, a molecular biologist and researcher, noted that there is no evidence of long-term risk assessment conducted by the government on the health impact of GMOs.
He highlighted that several studies link the consumption of GMOs to diverse health disorders, including immune system dysregulation, increased allergic responses, chronic inflammation and organ toxicity, as well as tumour development.
In his part, Prof Mirabeau revealed that GMOs pose a critical risk of genetic contamination of indigenous seed varieties owing to gene transfer.
He said “We cannot overlook such a grave threat to our plant genetic resources especially as such contamination is irreversible”.
Ban GMO Foods in Nigeria Now, Groups Tells FG
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