National News
CBN confiscates N56.8 million – Report

CBN confiscates N56.8 million – Report
By: Our Reporter
A total of 67,265 banknotes with a nominal value of N56.8 million were confiscated last year, the 2020 yearly report of the Central Bank of Nigeria (CBN) has revealed.
The volume is 20.8 per cent less than 84,934 pieces confiscated the previous year and 12.18 per cent short of the nominal value. In 2019, N64.7 million was confiscated.
The report also revealed that N1000 and N500 bills dominated the confiscated denominations, accounting for 69.06 percent and 30.79 per cent respectively.
The two highest denominations accounted for 99.85 percent of seized fake naira with smaller denominations taking only 0.15 per cent. The data validates the historical trend where criminals target higher denominations for counterfeiting.
According to the statistics, the ratio of confiscated counterfeit notes to the volume of currencies in circulation was 13 pieces per million or one to 77,000, suggesting that one out of every 77,000 banknotes in circulation last year was fake.
The apex bank reports that the volume of currency-in-circulation (CIC) increased by 19 per cent from N2.44 trillion at the end of 2019 to N2.9 trillion by December 31, 2020. The increase suggests the continued dominance of cash transactions despite the growth of digital payment systems.
Detailed analysis showed that N5, N10, N20 and N50 banknotes accounted for 28.4 percent of the total volume of currency in circulation. The smaller denominations’ share of the value of the money in circulation was only 1.9 per cent while 100, N200, N500 and N1000 accounted for 63.5 per cent and 98.08 per cent of the volume and value of the currency in circulation respectively.
According to the report, the total stock of currency (issuable and non-issuable) in the vaults of the bank at the end of December 2020 was 2.75 billion pieces compared with 2.64 billion pieces reported in 2019. The figures show an increase of over 100 million pieces or four per cent.
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“At end of December, 2020, the total issuable notes (newly printed notes and counted audited clean notes) was 592.94 million pieces, compared with 726.43 million pieces in 2019, representing a decrease of 133.49 million pieces or 18.38 per cent,” the report notes.
Last year, the apex bank cut its expenditure on currency printing from N75.5 billion spent in 2019 to N58.6 billion. The Bank had spent the N64 for the same process in 2018.
“The total cost incurred on printing of banknotes in 2020 amounted to N58,618.50 million, compared with N75,523.50 million in 2019, indicating a decrease of N16,905 million or 28 per cent,” the report states.
In a separate press release, the regulator said the reduction was in line with the objective of the Godwin Emefiele-led CBN to cut the cost of printing banknotes and cash management and that eNaira was also initiated in line with the policy.
The report also says the CBN generated the sum of N6.5 billion as total income from currency management activities in the year under review compared with N13.2 billion released in 2019. The figures imply a decrease of N6.7 billion or 50.9 per cent.
“The income generated was largely from penal charges on unsorted banknotes deposited by DMBs and charges for authentication of foreign currency deposits with the Bank,” says the report.
It also disclosed that the Bank incurred a total of N67.2 billion as expenses on currency operations in the year. The amount is N18 billion or 21 per cent less than N85.2 billion spent a year earlier.
CBN confiscates N56.8 million – Report
National News
NAPTIP Alerts Nigerians to Increasing Challenges in Human Trafficking

NAPTIP Alerts Nigerians to Increasing Challenges in Human Trafficking
By: Michael Mike
The Director General, the National Agency for the Prohibition of Trafficking in Persons (NAPTIP), Hajiya Binta Bello has alerted of the increasing challenges in human trafficking where traffickers have continued to deceive victims with pseudo job opportunities and harvested their organs..
Addressing a press conference on activities lined up for this year’s World Day Against Human Trafficking, Bello said it should interest all that the fight against human trafficking has continued to take new dimensions with emerging trends daily.
She said this is coupled with a new destination and further exploitation of victims.
She lamented that some of the disturbing trends that are on the increase, include Fake Job Opportunities and Scholarships in some destination countries; Recruitment of Victims as Marketing Agents for some branded products with the intention to exploit them; Recruitment of unsuspecting youths for Online Scam (Yahoo-Yahoo) within Nigeria, Ghana and some West African Countries; Online Trafficking/Sextortion, revenge porn,– Nigeria and Ghana.
Others are Baby Factory; Organ Harvesting; Online Loan Scheme – This is a situation where the suspect uses social media handles to lure unsuspecting victims into accepting, but at the end of the day, compel them into prostitution in return for the loan.
She noted that even though the crime of Trafficking in Persons (TIP) continues to evolve, becoming more complex, transnational and interlinked with other forms of violence and exploitation, particularly affecting women, children, persons with disabilities, and the elderly, NAPTIP has continued to perform maximally in line with its mandates.
Bello said: “The Agency has continued to carry out its activities in line with the 5Ps Strategies of Prevention, Partnership, Policy, Protection, and Prosecution. These have metamorphosed to massive awareness across the country to reduce the vulnerability of the citizens, increased collaboration and coordination, development of counter trafficking policies, rescue and rehabilitation of victims of human trafficking,and prosecution of offenders.”
She reiterated that: “Our resolve to tackle human trafficking in Nigeria is firm and unequivocal, and we shall continue to scale our strategies to outsmart the traffickers. It is our resolve to continue doubling our efforts to outsmart the tactics of the traffickers.
“In the coming months, it will be very challenging for human traffickers in the Country. We shall increase our coordination mechanism to empower all state and non–state actors to detect and report issues of human trafficking anywhere in the Country.
“In the same vein, we have built the capacity of our Cybercrime Squad and aligned it with the Joint Case Team on Cybercrime (JCTC) under the Federal Ministry of Justice to effectively and swiftly respond and address the growing trends of online recruitment and exploitation.”
Bello said: “NAPTIP has also strengthened working relationship and collaboration with other sister Law Enforcement Agencies including the Intelligence Community to ensure adequate surveillance and interception of traffickers and victims of human trafficking. This is in addition to the reinforcement and stringent enforcement of the relevant counter trafficking legal instruments with neighbouring countries and partners to prevent human trafficking.”
She however insisted that: “Human trafficking is a visible threat to National Development. It is a crime that weakens the foundation and pillars of any nation, with women and youth as the main target. So, we must set aside any rivalry; we must join hands together and ensure the protection of Nigerians.”
On his part, the Country Representative of United Nations Office on Drugs and Crime (UNODC), Mr. Cheikh Toure reaffirmed UNODC’s unwavering solidarity with
the Nigerian people in confronting the scourge of human trafficking.
He said: “This year’s theme “Human Trafficking is Organised Crime: End the Exploitation” demands we recognize a stark reality: trafficking is not incidental crime, but a calculated, transnational enterprise profiting from the vulnerability of our women, children, and men.”
He added that: “As custodian of the UN Convention Against Transnational Organized Crime (UNTOC), UNODC stands shoulder-to-shoulder with the Government of Nigeria. We must dismantle criminal networks through coordinated, cross-border action, strengthening justice, protecting victims, and holding perpetrators accountable.
He insisted that: “Human trafficking violates every principle of human dignity, destabilizes societies, and undermines the rule of law. Let me be clear: UNODC will deepen its partnership with Nigeria working with government, civil society, and survivors to shatter criminal empires, uplift victims, and build a future where no Nigerian is bought or sold. The time for decisive action is now.”
NAPTIP Alerts Nigerians to Increasing Challenges in Human Trafficking
National News
Producers Are Mandated to Embrace Circular Economy with Recycling and Reuse as Fundamentals

Producers Are Mandated to Embrace Circular Economy with Recycling and Reuse as Fundamentals
By: Michael Mike
The Director General of the National Environmental Standards and Regulations Enforcement Agency (NESREA), Prof. Innocent Barikor has explained that the Extended Producer Responsibility Programme (EPR) has made it mandatory for producers to design products and packaging that can be recycled or reused in line with Circular Economy.
Barikor made the disclosure on Tuesday, while entertaining questions on NESREA Half Hour, an environmental programme by NESREA in collaboration with the Federal Road Safety Corps, that airs on the National Traffic Radio 107.1 FM Abuja.
Represented by the Assistant Director Plastic, Engr. Chukwudi Nwabuisiaku, Prof. Barikor described the Circular Economy as an economic system where products and packaging are designed to last, and their packaging at post-consumer stage or end-of-life are managed in a manner that such products can be recycled, reused, upgraded, repurposed or upcycled.
He said, “If you are producing anything, think of the end-of life of that product, it’s take-back, and what else it can be used for. Therefore, the responsibility of the producer is extended to the post-consumer stage or end-of-life.”
Barikor also stated that all producers are mandated to register with the relevant Producer Responsibility Organisation of their product’s sector, adding that here are Existing PROs in the country for the Food & Beverage , Battery, Electrical and Electronics and Tyre Sectors where the programme has already kicked off.
He said the agency was also partnering with a Fintech company to strengthen the implementation framework for the formalization of the downstream operators of the value chain and ensuring that waste pickers and collectors are properly trained and incentivized by the Producer Responsibility Organisations.
Producers Are Mandated to Embrace Circular Economy with Recycling and Reuse as Fundamentals
National News
Jonathan, Marwa, Onyema, 16 Others to Be Honoured at DICAN Conference

Jonathan, Marwa, Onyema, 16 Others to Be Honoured at DICAN Conference
By: Michael Mike
A convergence of Nigeria’s diplomatic community, security stakeholders, policy experts, and scholars is set to take place in Abuja on Wednesday, July 23, 2025, as the Diplomatic Correspondents Association of Nigeria (DICAN) hosts the first-ever Diplomatic/Security International Conference, focusing on the intersection of diplomacy, national security, and Nigeria’s 4D Foreign Policy Strategy: Democracy, Development, Demography, and Diaspora spearheaded by the Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar.
This groundbreaking gathering, themed “Nigeria’s 4Ds Foreign Policy Strategy Amidst Global Security Challenges, Strategic Misperceptions, and the Age of Disinformation: The Role of Diplomacy, Intelligence, and Media in Shaping National and Global Stability.” is a timely response to the growing need for informed, cross-sectoral collaboration in safeguarding Nigeria’s sovereignty and global interests.

It will bring together seasoned diplomats, representatives of foreign missions, security chiefs, media professionals, researchers, and civil society actors to dissect key issues shaping the nation’s international engagement and internal stability.
Chairman of DICAN, Idehai Frederick, described the conference as a bold intellectual platform aimed at bridging the gap between security policy, diplomatic action, and media accountability.
According to him, “Nigeria is undergoing a deep recalibration of its foreign policy doctrine under the 4D framework. We believe the media has a crucial role in amplifying these strategies, while experts and diplomats must align security and diplomacy with real-time global shifts. This conference offers that synergy.”
He said in recognition of outstanding contributions to diplomacy, peacebuilding, national cohesion, and security sector reforms, DICAN will present the prestigious DICAN Award of Excellence to 20 distinguished personalities and institutions who have demonstrated unwavering commitment to Nigeria’s progress and international stature.
Among those to be honoured are:
Former President Dr. Goodluck Ebele Jonathan, for his enduring efforts in peace diplomacy and conflict resolution across Africa;
Retired Brigadier General Buba Marwa, Chairman of the National Drug Law Enforcement Agency (NDLEA), for his trailblazing anti-narcotics reforms;
Allen Onyema, Chairman of Air Peace, for fostering regional connectivity, crisis evacuation, and supporting national diplomacy through aviation logistics;
The Embassy of the Arab Republic of Egypt in Nigeria, for its consistent diplomatic engagement and support for bilateral cooperation.
Others on the honour list include top security operatives, humanitarian actors, and institutions whose work has strengthened Nigeria’s international presence and internal security architecture.
The conference, will feature keynote addresses, panel discussions, and thought leadership sessions, with prominent speakers including: Ambassador Yusuf Tuggar, Nigeria’s Minister of Foreign Affairs (Chief Host), The Minister of Defence, The Minister of Interior, Ambassador Gautier Mignot, Head of the European Union Delegation to Nigeria and ECOWAS,
The Ambassador of the Arab Republic of Egypt to Nigeria, Mohamed Fouad,
As well as Nigeria’s Service Chiefs and select heads of foreign missions.
DICAN, as the umbrella body for journalists covering the diplomatic and foreign affairs beats in Nigeria, views this international conference not just as a media initiative, but as a national dialogue to reinforce Nigeria’s place in global diplomacy while confronting existential security challenges.
According to Idehai, “We are living in an era where diplomacy is not just about embassies and bilateral meetings. It is now an essential tool in combating transnational threats, shaping economic development, and projecting national interest. This conference creates that rare space for reflective, inclusive discourse.”
End
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