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Redesigned Naira notes: Emefiele says withdrawal limit will be raised, rules out further extension of deadline on old notes
The Governor, Central Bank of Nigeria, Godwin Emefiele yesterday appealed to Nigerians to show understanding over supply hiccups making it difficult to withdraw cash from the banks. Emefiele said this at a press briefing on the implementation of the redesigned naira notes, adding that the daily cash withdrawal limit will eventually be raised and also removed as time goes on. He also ruled out the possibility of further extension of the deadline on old notes. He said that the CBN will tonight meet with banks, telcos and PoS agents to consider elimination of charges on transactions via electronic payment channels. He said “We do see that there will be some transient or temporary pains. But I will appeal, we are begging, we are on our knees begging people to please show understanding they should be calm. In our meetings with the banks, we have told them to set up tents and chairs, give people numbers, which I’m sure some people will say is old fashioned. “But at this time that we’re trying to get the currency to circulate there should be a queuing arrangement and please be patient. The assurance we give is that it would eventually go around. “Eventually, the limits would be raised and the limits would be removed and people would be able to conduct their exchanges and businesses in the way it has always been in the past.
“We are appealing. Please we understand the pain. I’ve received several calls myself. Some members of my family themselves have complained. They will all have to just please show some understanding. It does not mean that when you queue and it does get to you, you do not begin to descend to wanton destruction of bank properties. At this time that we’re facing this temporary and transient situation, we crave everybody’s understanding. Please be calm. We are monitoring all institutions on 24/7 both cash channels and electronic channels. I am appealing in God’s name that please let’s be calm, let’s take things easy.” Ruling out the possibility of further extension of the deadline on legal status of the old bank notes, Emefiele said: “On the clamor by people to move the deadline by one more year or if we are open to further extension of the deadline. I would say no. I’m sure that people are going to say that only last week Tuesday, I said no, but I want to say unfortunately again, this time, we will not be looking at an extension of deadlines. Because we at the central bank, the deposit money banks, and other very important stakeholders, we are looking at areas where there is pressure and we are doing everything possible to address those areas of pressure. And we have had cases where in some areas, some bank branches had some cash in their vaults because there was no demand for them. Central Bank officials, when reported, we moved those monies from those locations and moved them to areas where there is pressure.
“So those are some of the logistical challenges that we face and we are doing everything possible to address it. “So I am not going to make any promise to anyone that there will be any further extension of this deadline.” Emefiele also appealed to Nigerians to embrace alternative channels instead of engaging in panic queuing and hoarding of the new naira notes. He said “We have noticed that some members of the public are hoarding the new notes thereby restricting their flow through the economy. Cash kept at home will not circulate but may fuel a perception of scarcity which leads to higher demand for the currency, signalling to those who don’t have an urgent or immediate need to store cash. The CBN would like to encourage the public to use alternative channels as much as possible for their transactions and hold minimal cash in line with the cashless policy. The CBN has also noticed long queues at some bank ATMs and banking halls. Whilst some of these withdrawal requests are genuine and DMBs continue to load the ATMs only with new notes, monitoring suggests that there appears to be some opportunistic and panic queuing.
“The Bank wishes to reassure the public that the new notes are available for all who need it at the appointed time. There is no need to queue for new notes if you have alternative channels of payment and don’t have an emergency cash need. We reiterate that the new redesigned notes are more than enough to go round for legitimate needs.” The CBN Governor also appealed to Nigerians to be peaceful and not assault bank personnel or damage bank branches. He said “It has also come to our notice that at some branches, customers have become aggressive, verbally and/or physically abusing bank staff. They have also damaged or destroyed bank property, premises, and assets. We enjoin Nigerians to be peaceful and law abiding when they visit bank branches as this wanton destruction will be counterproductive, reducing the number of financial access points in these communities.
The Governor said the apex bank is mindful of exhorbitant charges by PoS and mobile money agents,and will tonight will meet with banks, telcos and the PoS operators to consider elimination of charges on epayment transactions. He said: “We have also noticed that some Nigerians are capitalising on the transition to charge exorbitant fees or demand cash payment on the false pretext that POSs don’t work, especially at petrol stations. These selfish actions for personal monetary gain are creating hardship for Nigerians and may come at the expense of fellow citizens’ lives and livelihood. By tomorrow, we are going to meet and if those charges are charged through the banks, we are going to have an arrangement with telcos to see how these charges can be stopped.
“So that if we know whatever you are making that you are not making because we stopped it, we can collect it somewhere and look for a way to pay you but we don’t want you to continue to create pain for those who want to use alternative channels when they do not have cash in their pocket. Later this night we are going to call a meeting of both the banks, mobile money agents, and telcos that at this time, nobody should be charged. We would want this service to continue without charges. Whatever it is in terms of volume and number that you have carried out. We will look for a way to pay you your money but please let us render this service so that those who are moving away from cash channels can enter into the electronic channels can please enjoy seamless use of these channels.”
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Customs seizes multi million-naira petroleum products in Adamawa
The Nigeria Customs Service under ‘Operation Whirlwind’ has seized petroleum products worth N181.6 million in eight weeks between the Nigeria and Cameroon borders.
ACG Kolapo Oladeji, national coordinator of Operation Whirlwind, disclosed this at a news conference on Thursday in Yola. Mr Oladeji said the seizures were made across various smuggling flashpoints in Adamawa in 55 separate operations.
“This operation is geared towards energy and food security to foster economic growth in line with the core mandates of the President of the Federal Republic of Nigeria, Bola Tinubu. In line with these mandates, the Operation Whirlwind Zone ‘D’ had repositioned all its machinery across the area of its responsibilities and ensured that the border became airtight,” he said.
He warned the smugglers to stop such acts and solicited the continued support and cooperation of all stakeholders in the state’s socioeconomic development. “We will ensure that the supply chains of these economic wreckers are truncated in accordance with enabling laws. This fight has no doubt helped in transforming the nation’s economy and strengthening the security of our borders,” he said.
He further said that the seized petroleum products would be auctioned to the public. Abidemi Adewumi-Aluko, assistant legal adviser of the attorney general of the federation, described the auction as a symbol of reclaiming resources to ensure that the benefit of petroleum remained in Nigeria. She said that such offences attracted life imprisonment because they threatened national security. NAN
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Chevron to join Nigeria oil licence auction, plans rig deployment in 2026
Chevron said on Friday it will participate in Nigeria’s next oil licensing round and plans to deploy a drilling rig in late 2026 as it seeks to expand operations in Africa’s top energy producer.
Jim Swartz, chairman and managing director of Chevron Nigeria/Mid-Africa Business Unit, said the company aims to grow its footprint in Nigeria, citing improved regulatory clarity under the Petroleum Industry Act, PIA.
“We will participate in the next licensing round. Our intention is to continue to grow in Nigeria,” Swartz told reporters after meeting the upstream regulator. Nigeria’s licensing rounds are part of efforts to attract investment and boost output after years of underinvestment. The 2025 round will offer 50 fields through a digital platform, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said. TotalEnergies has also expressed interest in joining an auction.
Chevron recently agreed to acquire a 40% stake in two offshore exploration licences, PPL 2000 and PPL 2001, from TotalEnergies and is seeking regulatory approval to accelerate development.
Swartz said it plans to bring in a rig in late 2026 to drill a newly discovered resource near Agbami and extend leases on existing assets. Swartz added that Chevron had recorded no oil theft or sabotage in the past year, the longest period without disruptions in its Nigerian operations, a sign of improved security in the sector. Reuters
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Don’t patronise touts, immigration personnel available 24/7—CGIS
Comptroller General of the Nigeria Immigration Service NIS, Kemi Nandap, on Friday urged Nigerians to shun touts and middlemen when applying for passports or other immigration services, insisting that the Service operates round-the-clock channels to assist citizens directly and transparently.
Nandap made the call in Abuja while delivering the keynote address at the fourth-quarter Nationwide Sensitization Campaign against corruption and for improved service delivery.
The campaign, themed “Innovating for Transparency and Efficiency: Strengthening Service Delivery and Combating Corruption Through Reforms,” highlights the NIS’ ongoing efforts to modernize its operations and eliminate corrupt practices.
Addressing participants, the Immigration chief said the era of relying on agents or informal handlers should be over, as the Service has put in place fully digital, citizen-focused systems that allow applicants initiate and track their processes from the comfort of their homes.
She stressed that the NIS has functional 24-hour call lines, an active call centre, constantly monitored emails and social-media channels, all designed to ensure citizens are attended to promptly and without intermediaries.
“You don’t have to go to a tout, you don’t have to go to an agent. You can sit in the comfort of your home and apply for most of our facilities. Once you avoid putting yourself at the mercy of someone, you stay in control of your application and can always reach us at any time”, she stated.
Nandap noted that recent reforms, including automated passport application processes, biometric-based verification, expanded digital architecture and streamlined service-centre operations, have significantly reduced delays, improved transparency and minimised opportunities for extortion.
She explained that passport processing timelines have improved across multiple commands following the rollout of automated scheduling and digital communication platforms.
The Comptroller General also emphasized that transparency remains the foundation of effective immigration management.
She highlighted enhanced internal audits, stricter enforcement of ethical codes and redesigned workflows as key elements of the NIS’ anti-corruption strategy.
With digital payments and automated checkpoints reducing cash interactions, she said the Service is committed to stamping out malpractice at all levels.
Nandap further disclosed that the NIS has deepened collaboration with sister agencies, civil-society groups, international partners and the diplomatic community to align operations with global border-management standards.
These partnerships, she said, are helping to harmonise processes, promote accountability and support ongoing reforms.
She appealed to citizens to familiarise themselves with official procedures, follow approved channels and use the Service’s feedback platforms—including suggestion boxes, hotlines and online desks—to report challenges or offer recommendations. “We are here for Nigerians. Tell us how to serve you better,” she said.
The Immigration CG also paid tribute to officers who lost their lives in the line of duty in Mogolu, Tuga, Tula and Niger State, calling their deaths a painful reminder of the risks faced daily by immigration personnel.
She urged Nigerians and officers alike to embrace positive change, adding that sustainable reform depends on individual commitment and collective responsibility. “The change we want starts with each and every one of us,” she said.
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