IMO BREAKING NEWS BLOG

The Central Bank of Nigeria (CBN) has disowned a circular claiming it has introduced two new denominations—N5,000 and N10,000 notes. The apex bank described the circular as “fake” in a statement via its official handle on X (formerly Twitter).

The alleged circular said the new notes were set for circulation from May 1. The viral circular widely shared on WhatsApp, falsely attributed to the CBN, stated, “The Central Bank of Nigeria (CBN) has officially announced the introduction of two new denominations – N5,000 and N10,000 banknotes; as part of ongoing efforts to streamline cash transactions and improve liquidity management.”

The document further alleged that one Deputy CBN Governor, Dr. Ibrahim Tahir Jr., justified the move as a way to reduce cash-handling costs while offering Nigerians more efficient options for larger transactions. However, the apex bank refuted the claims, urging the public to verify information through its official website.

“The content is not from the Central Bank of Nigeria. Kindly note that the official website of the CBN is cbn.gov.ng,” the CBN stated, emphasising its commitment to transparency and accurate communication. 

Nigeria’s oil sector faces fresh uncertainty as host communities in Bayelsa State have issued a 14-day ultimatum to NNPC Exploration & Production Limited (NEPL), threatening to shut down operations at Oil Mining Leases (OMLs) 86 and 88 over a dispute regarding security contracts.

In a letter dated March 28, 2025, signed by community representatives, including Chief Christopher Tuduo and Dr. Amakiri Ngozi, the communities protested NEPL’s decision to terminate Multiplan Nigeria Limited’s contract and reduce the number of community-owned security vessels from three to two.

The affected communities—spanning Brass and Southern Ijaw LGAs—argue that the security contracts, introduced by Chevron in 2007, were meant to safeguard oil infrastructure and maintain peace. They accused NEPL of breaching prior agreements by awarding a security contract to an external firm without consulting them.

The KEFFES Host Communities Development Trust (KHCDT) has demanded the reinstatement of the three security vessels, payment of outstanding invoices from 2024, and an urgent meeting with NEPL’s management within seven days.

“If our demands are not met within 14 days, we will take all necessary steps to shut down oil production at OMLs 86 and 88,” the statement warned.

The standoff raises concerns over potential disruptions to Nigeria’s oil output, as President Bola Tinubu’s administration aims to increase production to two million barrels per day by 2027 and three million by 2030.

This development comes amid Tinubu’s recent decision to sack NNPCL Group CEO Mele Kyari and the company’s board. 

Former senator Shehu Sani (Kaduna Central) has turned down an invitation to serve as a judge for the Miss World Nigeria Beauty Pageant, scheduled for April 4 at the Federal Palace Hotel, Lagos.

Event organizer and former senator Ben Murray-Bruce announced Sani’s appointment on social media, congratulating him and urging him to attend in his finest attire.

However, in a post on X (formerly Twitter) on Thursday, Sani politely declined, citing personal reasons.

“My wives will not be happy if I serve as a judge. I have not been able to determine the most beautiful among them, let alone among people I don’t know,” he wrote.

He also noted his lack of experience in beauty pageants and expressed a preference to spend the Sallah period with family and friends.

Sani apologized for any inconvenience his decision may have caused Bruce and the event organizers, thanking them for the honor and wishing them success.

The Independent National Electoral Commission (INEC) has ruled that the petition seeking to recall Senator Natasha Akpoti-Uduaghan of Kogi Central does not meet constitutional requirements.

In a statement on its official X (formerly Twitter) handle on Thursday, INEC stated:

“The petition for the recall of the Senator representing Kogi Central Senatorial District has not met the requirement of Section 69(a) of the Constitution of the Federal Republic of Nigeria 1999 (as amended).”

Further details are expected. 

The death of Galadiman Kano, Abbas Sanusi, has unexpectedly brought together Kano’s political rivals, uniting figures from the APC and NNPP.

Sanusi, the longest-serving member of the Kano Emirate Council, passed away at 92 after a prolonged illness. His funeral drew key figures from both parties, including APC Chairman Abdullahi Abbas, Deputy Senate President Barau Jibrin, and NNPP leader Rabiu Musa Kwankwaso.

Kano APC Chairman Abdullahi Abbas expressed gratitude to Governor Abba Kabir Yusuf for attending, while residents voiced surprise at the rare show of unity. Analysts view the moment as a brief but significant pause in Kano’s intense political rivalry. 

MTN Ghana’s CEO, Stephen Blewett, has dismissed allegations that the telecom giant manipulates customer data usage, calling it a long-standing misconception across various markets.

His statement comes as Nigerian subscribers voice similar concerns, with complaints flooding regulatory agencies over unexplained data depletion. Operators, including MTN, attribute the issue to increased data consumption due to network upgrades and high-definition streaming.

Blewett emphasized there’s no financial motive for data theft, noting that MTN undergoes independent audits and has internal oversight to ensure billing accuracy. He reassured customers that the company remains committed to transparency and compliance.