Please recall that the Central Bank of Nigeria introduced the redesign of N200, N500 and N1,000 denominations in October 2022 and certain deadlines were set for the old design of these denominations to cease as legal tenders. Without prejudice, the Central Bank of Nigeria wishes to inform the general public of its desire to extend the legal tender status deadline of the old design of N200, N500 and N1,000 denominations, ad infinitum. This is in line with international best practices and to forestall a repeat of earlier experiences. Thus, all banknotes issued by the Central Bank of Nigeria (CBN), in accordance with Section 20(5) of the CBN Act 2007, will continue to remain legal tender, ad infinitum, even beyond the initial December 31, 2023, deadline. The Central Bank of Nigeria is working with the relevant authorities to vacate the subsisting court ruling on the same subject. Accordingly, all CBN branches across the country will continue to issue and accept all denominations of Nigerian banknotes, old and redesigned, to and from deposit money banks (DMBs). The general public is enjoined to continue to accept all Naira banknotes (old or redesigned) for day-to-day transactions and handle these banknotes with utmost care, to safeguard and protect the lifecycle of the banknotes. Also, the general public is encouraged to embrace alternative modes of payment, e-channels, for day-to-day transactions.

Isa AbdulMumin PhD

Director, Corporate Communications November 14, 2023

Omo-Agege Congratulates Gov. Uzodinma, Ododo; Thanks President Tinubu, Ganduje-Led APC NEC; And Commends Imo, Kogi Electorate For Supporting APC

The Deputy President of the 9th Senate, Senator Ovie Omo-Agege heartily congratulates the Executive Governor of Imo State, His Excellency, Senator Hope Uzodinma and Governor-elect of Kogi State, Alhaji Usman Ododo on their decisive electoral victories in the just concluded gubernatorial elections in their respective states.

The former Deputy Senate President notes with profound joy that Governor Uzodinma’s emphatic success at the polls is a clear testament to the overwhelming confidence reposed in him by Imolites who see him work tirelessly daily for their common good. As his dear brother and friend with untiring capacity to do great things by the power of God, Senator Omo-Agege trusts that Governor Uzodinma is primed to do much more amazing things to lift up his good people, and prays that God guides him all the way.

Equally, Senator Omo-Agege is pleased that working with the good people of Kogi State and trusted leaders across the Kogi landscape, His Excellency, Governor Yahaya Bello and the Governor-elect, Alhaji Ododo stood firm to provide wise, focused and strategic leadership for the All Progressives Congress, APC, to win the governorship election in Kogi State. It is his sincere prayer that God will guide Mr. Governor-elect to lead Kogi well.

Senator Omo-Agege also extends his warm congratulations to President Bola Ahmed Tinubu, GCFR, for allowing his credentials as a great democrat and statesman to speak eloquently for themselves in these off cycle elections, as he easily played the role of the ‘Father of All’ to further strengthen public confidence in our democracy. He equally extends his sincere congratulations to His Excellency, Dr. Umar Ganduje (APC’s National Chairman) and the entire members of the National Executive Committee of the party for their resourceful leadership at this crucial time of these elections.

Signed:

Sunny Areh

(Media Adviser to Senator Ovie Omo-Agege)

STATE HOUSE PRESS RELEASE

PRESIDENT TINUBU MEETS ISLAMIC DEVELOPMENT BANK MANAGEMENT, NEGOTIATES MULTI-BILLION DOLLAR FUNDING PACKAGE FOR INFRASTRUCTURE

President Bola Tinubu, on Monday night, in Mecca, Saudi Arabia, advanced negotiations concerning a multi-billion dollar infrastructure finance facility from the Islamic Development Bank to fund a multi-sectoral portfolio of infrastructure projects at the federal and sub-national levels in Nigeria.

This development was the outcome of substantive investment discussions held between President Tinubu and the Vice-President (Country Programs) of the Islamic Development Bank, Dr. Mansur Muhtar, after the President’s return from evening prayers.

“Nigeria is the candle of hope that will light the way for Africa. And once Africa is illuminated, the world will be a brighter place for all of humanity. We are determined to create a future for our gifted youths. Investments in Nigeria will be among the world’s most high-yielding. Investor money will flow easily in and out of our country. Processes will be seamless. And your bank has always been a faithful partner in progress.

“We have serious deficits in port infrastructure, power infrastructure, and agro-allied facilities that will enable sustainable food security in our country. These deficits present unrivalled opportunity for savvy investors in a market that is by far the largest on the continent. Yes, we had the vision to enable Lekki Deep Seaport before others saw it. We must be bold again.

“We inherited serious liabilities, but also assets from our predecessors. We do not make any excuses. There are several sectors replete with investment opportunity for smart investors. Access to finance and guarantees can be a hindrance in some cases. You can come in there. We see you as a critical enabler. You have partnered with us before. We want to scale it up now and do much more with greater ambition and clear vision,” the President stated.

Noting the historic essence of President Tinubu’s swift and decisive economic reforms, the Vice-President of the Islamic Development Bank said the financial world has been monitoring events in Nigeria and has concluded that Africa’s largest economy means business this time.

“Mr. President, we know you inherited a very tough set of circumstances. It is to your credit that you have taken very bold steps without delay. We are ready to work with you. We are ready to support big investments in Nigeria. We agree that if Nigeria succeeds, Africa succeeds. And the world needs Africa to succeed.

“The Islamic Development Bank President announced the provision of $50 billion U.S. Dollars of new investment for the African continent from the Arab Coordination Group (ACG). This was announced at the Saudi-Arab-African Economic Summit. As the largest market and the largest economy in Africa, Nigeria will certainly receive a significant share. We look forward to supporting Nigeria’s economic transformation,” the Islamic Development Bank Vice-President said.

The President concluded by thanking the Islamic Development Bank management while pledging the unwavering commitment of his administration to win investors’ trust and confidence, just as he did in Lagos State many years ago.

Members of the Nigerian delegation present at the meeting in Mecca were: Governor Bala Mohammed of Bauchi State; Governor Dikko Radda of Katsina State; Governor Umar Bago of Niger State; Minister of Budget & Economic Planning, Senator Atiku Bagudu, and others.

Chief Ajuri Ngelale

Special Adviser to the President

(Media & Publicity)

November 14, 2023

STATE HOUSE PRESS RELEASE

PRESIDENT TINUBU MOURNS FAMOUS ACTOR, SAMANJA

President Bola Tinubu has condoled with the family of retired soldier, broadcaster, and veteran actor, Usman Baba Pategi (Samanja), who died on Sunday at 84.

The President described the death of the popular thespian as a painful loss, saying he contributed to the country through the various vocations he pursued in his lifetime.

“The late Pategi chose to obey the call to national duty when the country needed his service. His television show, Samanja, was must-watch entertainment for decades. Through the show, he taught young citizens national values and respect for our servicepeople. He was a patriot who left behind several indelible impressions,” the President said.

President Tinubu encouraged the Pategi family, the people and governments of Niger and Kwara states, the Pategi Emirate Council, and members of the Nigerian entertainment industry to take comfort in the worthy legacy of the deceased.

Chief Ajuri Ngelale

Special Adviser to the President

(Media and Publicity)

November 14, 2023