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Currency redesign: CBN launches portal for collection of old naira notes

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Central Bank of Nigeria (CBN) has created a portal for the collection of the old naira notes as it looks to begin its currency redemption exercise.

Newsmen observed that the CBN published a notification titled ‘redemption of currency’ on its website on Wednesday.

The notification provides a link to the portal to enable Nigerians redeem (deposit) their old N1,000, N500, and N200 notes by completing an online form.

“Please click here to create your profile, generate reference and print out receipt for you to proceed to nearest CBN branch to deposit your old N1000, N500 and N200 notes into your bank account,” it reads.

To generate a reference number, according to CBN, customers are required to provide their bank verification number, email address, phone number, bank account details, depositor information (including house address), and the total amount of the denomination to be redeemed.

After the journalist followed the process in attempts to create a profile and generate a reference number, a notification popped up listing ‘conditions for redemption of currency’.

Part of these conditions (which Nigerians must accept) is that “depositors can only access this window once”.

The apex bank also said “beneficiary accounts would only receive value after successful processing of cash deposited and verification of documentations submitted”.

“A depositor shall not be entitled to recover from the bank the value of any mutilated or imperfect notes. The circumstances under which such notes may be refunded ex-gratia shall be within the absolute discretion of the bank,” it added.

“Depositors can check the status of transaction on the portal here.

“Transactions would be concluded within a minimum of three working days.

“All deposits will be treated in accordance with the relevant laws.”

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NNPC increases pump price to N1,025 in Lagos, N1,050 in Abuja

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The Nigerian National Petroleum Company (NNPC) Limited has again increased the price of premium motor spirit (PMS), also known as petrol, across its retail outlets.

On Tuesday, TheCable observed the second increase in October.

NNPC increased the pump price from N855 per litre set in September to N998 per litre on October 3.

However, at the NNPC retail outlets located at Ago Palace Way, Okota, Lagos, the price of PMS has been increased to N1,025 per litre.

The increase comes more than one month after the NNPC commenced petrol lifting at the Dangote Petroleum Refinery’s gantry after an extended period of price negotiations.

On September 15, the NNPC said petrol was bought from Dangote refinery at N898 per litre.

The Dangote refinery countered NNPC’s claim, describing it as “both misleading and mischievous”.

A day after, the national oil company announced estimated pump prices based on prices set by the Dangote refinery for its petroleum products, saying petrol will sell for N950 in Lagos and N999 in Abuja.

On October 10, the Independent Petroleum Marketers Association of Nigeria (IPMAN) asked NNPC to refund the oil marketers’ money or to sell petrol to its members at the Dangote refinery rate.

IPMAN said its members’ money has been with NNPC for over three months.

According to the association, NNPC collected PMS from the Dangote refinery below N900 per litre, but NNPC wants oil marketers to buy the same product at the rate of N1,010 in Lagos, N1,045 in Calabar, N1,050 in Port Harcourt, and N1,040 in Warri.

On October 11, the federal government said oil marketers can now buy petroleum products directly from the Dangote refinery and other local producers — one week after directing the Dangote refinery to sell petrol to only the NNPC.

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Abba Yusuf approves N71,000 minimum wage for civil servants in Kano

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Abba Yusuf, governor of Kano, has approved N71,000 as the new minimum wage for civil servants in the state.

In a statement on his X page on Tuesday, the governor said the new minimum wage will be effective in November.

“In line with our commitment to social justice and enhancement of the standard of living for our workers, we have approved the sum of 71,000 naira as the new minimum wage in Kano state,” the governor wrote.

Yusuf said the new pay package would increase the state’s monthly salary obligations by N6 billion at the state level and N7 billion for the LG councils.

“Additionally, following the promotion of 20,737 teachers by our government, a total increment amounting to the sum of over 340 million naira has now been reflected in their respective salaries,” he added.

The governor lauded the state minimum wage implementation committee for its recommendations for standard pay for workers in the state.

The development comes days after Peter Mbah, governor of Enugu, announced a new minimum wage of N80,000 for civil servants in the state.

On October 16, Babajide Sanwo-Olu, governor of Lagos, announced that the minimum wage for public sector workers in the nation’s commercial capital would be N85,000.

On October 18, Siminalayi Fubara, governor of Rivers, approved N85,000 as the minimum wage for civil servants in the state.

On October 25, Umo Eno, the governor of Akwa Ibom, announced N80,000 as the new minimum wage for civil servants.

In July, President Bola Tinubu signed the minimum wage bill into law, increasing workers’ pay package from N30,000 to N70,000.

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Arik Air asks passengers to disembark as traveller disrupts Lagos-Abuja flight

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An Arik Air flight from Murtala Muhammed International Airport in Lagos to Abuja on Saturday evening was disrupted before take-off.

In a video shared by AIT on Sunday, passengers were seen waiting outside the aircraft, having been asked to disembark for a thorough security check.

The passenger who recorded the incident said a “fake passenger was caught and arrested on the flight”.

“It took us about 30 minutes for them to do the check-in and the boy that ran into the plane, a fake passenger, has been caught and arrested, and they said he will not get bail until he is properly investigated. So, they asked us to come out and do a proper check-in,” the passenger said.

However, speaking to TheCable, Adebanji Ola, head of corporate communications at Arik Air, clarified that the individual was not a fake passenger but rather a disruptive traveller.

According to Ola, the passenger attempted to exit the aircraft during boarding but was quickly apprehended and handed over to the Federal Airports Authority of Nigeria (FAAN) aviation security (AVSEC).

He said following standard procedure, the airline instructed all passengers to leave the aircraft, allowing for a full security check after which the flight departed for Abuja.

“On flight W3 735 from Lagos to Abuja on October 26, 2024, a disruptive passenger was caught while running out of the aircraft at a time boarding was on,” Ola said.

“He was immediately handed over to the Federal Airports Authority of Nigeria (FAAN) aviation security (AVSEC).

“In line with standard operating procedure, all other passengers on board the aircraft were disembarked, and a thorough security check was carried out in the aircraft.

“A second boarding was then called after the security check and the flight thereafter departed for Abuja.”

Ola said the arrested passenger was taken to the FAAN AVSEC office till the aircraft arrived at its destination.

‘DISRUPTIVE PASSENGER DEBOARDED FOR SAFETY OF OTHER PASSENGERS’

Confirming the incident, Michael Achimugu, director of public affairs and consumer protection at the Nigeria Civil Aviation Authority (NCAA), said the flight, initially scheduled to take off around 6:52pm, was delayed due to the passenger’s behaviour.

Achimugu added that the passenger’s parents were invited after which he was taken away.

“The flight was supposed to take off at 6.20pm. It was supposed to be this time of departure. Now, it was not a fake passenger. It was a passenger on board who, due to suspected, use of hard drugs began to behave crazy,” he said.

“The airline staff had to restrain him for a while before deboarding him for the safety of the other passengers. He was taken by AVSEC to Tango City for holding until the flight eventually took off around 6.52pm.

“There was a 32-minute delay to the flight due to the unruly passenger behaviour.

“His parents were invited to pick him up from there. They came and took him away. The airline departed finally at 18.52 hours with 126 passengers on board.“

Achimugu reiterated that no fake passenger was on board and that the situation was resolved.

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Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

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