Connect with us

News

Release $717.4m trapped funds to foreign airlines, Senate Urges CBN

Published

on

437 Views

The central Bank of Nigeria on Wednesday has been asked to release trapped $717,478,606 airlines funds in the country.

The Senate made the call to CBN while also allocating the sum of $25 million to airlines operating in Nigeria at its fourth-nightly dollar auction.

These resolutions were reached sequel to the consideration of a motion titled, ‘Current Issues on airlines blocked funds in Nigeria’, sponsored by Sen. Biodun Olujimi (PDP-Ekiti) at the plenary in Abuja and chaired by the Senate Committee on Aviation.

The vice chairman of the committee, Sen. Bala Na’Allah (APC-Kebbi) presented the motion on behalf of Olujimi.

The upper chamber of the National Assembly also called on the Federal Government to urgently reverse the current trend of increasing airlines blocked funds in Nigeria.

It called on President Muhammadu Buhari to direct the CBN Governor, Godwin Emefiele, to pay up the blocked funds to the affected airlines.

The Senate further appealed to the airlines operating in the country not to withdraw their services, saying efforts were ongoing to resolve the issue.

Moving the motion, Na’Allah said since January 2021, Nigeria has been the most challenging country in the world for the airlines to repatriate their funds to support their operation.

In February, Nigeria alone accounted for 44 per cent of total airlines blocked funds in the entire world.

The total airlines blocked funds in Nigeria as of March amounted to $717.4 million comprising matured bids that the CBN was yet to deliver, bids yet to mature, and cash balances in airlines’ accounts for repatriation.

News

Breaking: INEC postpones voter revalidation exercise till after 2027 elections

The decision was announced in a statement issued and signed by Mohammed Haruna, the commission’s national commissioner and chairman of its information and voter education committee.

Published

on

By

10 Views

The Independent National Electoral Commission (INEC) on Friday postponed its planned nationwide voter revalidation exercise until after the 2027 general elections.

The decision was announced in a statement issued and signed by Mohammed Haruna, the commission’s national commissioner and chairman of its information and voter education committee.

Haruna said that the postponement followed deliberations at a meeting between the commission and resident electoral commissioners (RECs).

“Following deliberations, the commission resolved to postpone the exercise until after the 2027 General Election,” the statement read.

(VANGUARD)

Continue Reading

News

Plateau Community Laments ‘ No Security To Repel Attackers’

Those confirmed dead include Elder Iliya Mangut Dakus, Mr. Luck Titus Dakus, Mr. Habila Istifanu Dakus, Mr. Hassan Istifanus Dakus, Mrs. Hassan Moses Dakus, Biggie Lucky Dakus, Sunday Gideon Dakus, and Mr. Innocent Barnabas Makwin.

Published

on

By

12 Views

People of Mbwelle village, Bokkos Local Government Area of Plateau State lamented that the Thursday Late-night attack which left eight persons killed lasted for several hours with no visible security presence to repel the attackers.

The assailants reportedly stormed the community at about 11 p.m. on Thursday, and opened fire on residents in a sporadic shooting that lasted nearly an hour.

Seven of the victims were members of the same family, while at least three others sustained injuries and several persons are missing.

Those confirmed dead include Elder Iliya Mangut Dakus, Mr. Luck Titus Dakus, Mr. Habila Istifanu Dakus, Mr. Hassan Istifanus Dakus, Mrs. Hassan Moses Dakus, Biggie Lucky Dakus, Sunday Gideon Dakus, and Mr. Innocent Barnabas Makwin.

The Chairman of Bokkos Local Government Area, Samuel Amalau, confirmed the incident to Arise news during a phone interview, expressing concern over the recurring violence in the area.

The Chairman condemned what he described as a resurgence of unprovoked attacks in Bokkos, particularly the incident in Mbwelle community of Kwatas Ward.

The Chairman of the Community Peace Observers in Bokkos, Kefas Mallai, added that the attack has heightened tension in the area.

He extended condolences to the bereaved families, noting that the killings were “a direct assault on our collective humanity and peaceful coexistence,” while also wishing the injured a speedy recovery.

He also appealed to youths to exercise restraint and avoid actions that could escalate tensions, even as he reaffirmed the right to lawful self-defense.

Also confirming the attack, the Police Public Relations Officer, SP Alfred Alabo, said investigations are ongoing and assured that further details would be made available.

Continue Reading

News

CBN Debunks Viral Fake News of ₦5,000 Banknote Featuring President Tinubu’s Image

Published

on

37 Views

The Central Bank of Nigeria (CBN) has firmly dismissed as fake a circulating image purporting to show a new ₦5,000 banknote bearing the portrait of President Bola Ahmed Tinubu.

In a statement posted on its official X (formerly Twitter) handle on Thursday, April 9, 2026, the apex bank declared: “This content is fake. Let the public be guided.” The clarification came after the image went viral on social media, sparking debates and reactions among users who questioned its authenticity.

The viral mock-up, which some claimed was a “first sample” of a redesigned higher denomination note, has been identified by fact-checkers and media outlets as AI-generated.

Tests using AI detection tools reportedly showed over 90% AI-generated content, and earlier versions of similar images carried watermarks linked to Grok, an AI tool on the X platform.

This is not the first time such claims have surfaced. In 2025, the CBN similarly debunked reports of impending introductions of ₦5,000 and ₦10,000 notes, describing those as false and clarifying that no such policy or designs were in the works.

The CBN urged Nigerians to disregard the misleading image and rely only on official communications from the bank. It has not announced any plans to introduce new currency denominations or redesign existing notes with the president’s image.

The development comes amid ongoing efforts by authorities to combat misinformation that could potentially cause public confusion or economic anxiety regarding the naira.

Members of the public are advised to verify currency-related information directly through the CBN’s official website (cbn.gov.ng) or verified channels.

Continue Reading

Trending