News
Naira crisis: Banks shun CBN directive, collect old N1,000, N500
Naira crisis: Banks shun CBN directive, collecome Deposit Money Banks on Saturday opened their branches to customers for the purpose of collecting old N500 and N1,000 notes for deposit into their accounts.
On Friday, the CBN had ordered banks to start collecting the old N500 and N1,000 notes from members of the public and pegged the maximum amount they could collect from individuals at N500,000.
The CBN swiftly issued a counter statement signed by the Director, Corporate Communications, Osita Nwanisobi, saying it did not give such a directive.
The banking regulator stated, “The attention of the Central Bank of Nigeria has been drawn to some fake and unauthorised messages quoting the CBN as having authorised the Deposit Money Banks to collect the old N500 and N1,000 banknotes.
“For the avoidance of doubt, and in line with Mr President’s broadcast of February 16, 2023, the CBN has been directed to only reissue and re-circulate the old N200 banknotes and this is expected to circulate as legal tender for 60 days up to April 10, 2023.”
When one of our correspondents visited Access Bank in Oregun, Lagos, the branch was attending to customers who had succeeded in filling the required form from the CBN portal, and collecting the old N500 and N1,000 from them.
The CBN had opened a portal on its website and mandated all those willing to return their old notes to fill a form and generate a reference code.
An official at the Access Bank branch explained to Sunday PUNCH, “We are only collecting deposits of the old notes from those who have filled the form and generated the code. If you don’t have a code, you cannot enter because you will not be attended to. We have been open since 10am and will close by 2pm.”
When asked how many times a customer could come and deposit, he said, “You are required to bring all the deposits at once and it must not be more than N500,000.
“If it is more than N500,000, you have to take it to the CBN and we can collect it only once from you because the deposit will be linked to your BVN.”
At Zenith Bank on Isaac John Street, Ikeja GRA, customers also came to deposit their old N500 and N1,000 notes before the bank closed by 2pm.
A security guard said, “If you don’t have a reference code, you cannot enter.”
He explained how to generate the reference code saying, “You have to go to the CBN website to register on the portal. Some people don’t know how to do it, but they have been going to cybercafés to generate the code. That is when you can deposit and it must not be more than N500,000.”
The GTBank at Olowoira in the Ojodu area of the state was also attending to depositors when one of our correspondents visited on Saturday.
A security guard, who refused to disclose his identity because he was not authorised to speak on the matter, said, “We have closed already, but some people are still inside the banking hall. We closed at 1pm and only those that had the code were allowed in.
“Some people came but because they did not have the code, we did not allow them in because it is mandatory. Those who had the code before 1pm were allowed in and some of them are still inside now, but we have closed for today to those that are just coming.”
Some depositors seen outside, however, expressed disappointment over the confusing information by the CBN over the collection of the higher denominations.
A man told our reporter “I have N480,000 that I want to deposit but I heard yesterday (Friday) that the CBN said it did not direct the banks to collect the notes, so I stayed at home.
“Later when someone called me that he was able to deposit the old notes, I rushed to the bank but was told that they had closed for the day.
“This is unfair because the information did not circulate. People were just saying all sorts of things. It is not fair coming here now and I cannot even enter the bank.”
Another woman standing outside the bank, Florence Ogundeji, said, “I thought it was not true until I got to the bank. It was then that I had to go and look for how to generate the code and when I came back, they did not allow me in. I have been standing outside.”
At the Polaris Bank branch at Olowoira, the security guards said the collection of the old notes was fake news and the bank did not open to the public.
However, a young man who was standing in front of the bank and spoke with our correspondent on condition of anonymity said, “I heard that we can deposit our N500 and N1,000 notes and that is why I am here.
“I have N170,000 with me but they are telling me that they are not collecting it.”
When Sunday PUNCH visited the UBA at Ojodu, an official of the bank said, “People have been coming to deposit their old notes, but we could not attend to them today because even if they have their code, our bank does not have the pin to verify the code.
“It is true that they can deposit the old N500 and N1,000 notes, maybe if our bank is able to get the pin by Monday, we will begin to collect the notes.”
The Federal Road Safety Corps (FRSC) has announced the demise of its Enugu State Sector Commander, Corps Commander Franklin O Agbakoba.
This is contained in a statement issued by FRSC Deputy Corps Commander in-charge of Enugu State Operations, DCC Kyrian C Okolo, on Friday in Enugu.
“FRSC Enugu State Sector Command received the sad news of the demise of CC Franklin Agbakoba on Thursday, July 30,2026.
“The late Sector Commander died at Niger Foundation Hospital, Enugu where he was receiving treatment.
“His corpse have been deposited at the Eastern Medical Center, Enugu,” he said.
Until his death,CC Franklin Agbakoba made inter-agency collaboration and partnership his legacy and promoted safer roads within Enugu State.
The family’s head, Imo Aguiyi-Ironsi, made the demand during an interview with Arise News on Thursday.
“I think the family needs apology. The family needs to be compensated. We need sincere apology. We need sincere reconciliation,” he said.
He described his uncle as a visionary leader who was wrongly punished for a coup he had no role in.
“He was a man of vision. He was a detribalized Nigerian. He was a good leader,” he said.
Imo Aguiyi-Ironsi noted that his uncle’s tenure as Head of State was brief and ended violently.
“He occupied the seat of head of state for only six months, and he was taken away from us.
“Not because of a sin he committed, because he wasn’t part of the January 1966 coup.”
According to him, Aguiyi-Ironsi’s death resulted from his position rather than any wrongdoing on his part.
“Only because of his position as the most senior military officer, he was told to take charge. And then that cost him his life,” he said.
He expressed hope that his appeal would reach those with the power to act on it.
“Well, I hope there are people who are in positions to make this happen that are listening to you tonight,” he said.
Aguiyi-Ironsi served as Nigeria’s Head of State from January 16 to July 29, 1966, taking charge in the aftermath of the January 15, 1966 coup that had claimed the lives of the country’s political leadership.
He survived that coup and helped crush the mutiny, but his later decision to centralise power under Decree 34, along with his failure to prosecute the plotters, fuelled resentment among northern officers.
He was killed on July 29, 1966, alongside his host, Lieutenant Colonel Adekunle Fajuyi, in a mutiny by northern soldiers that became known as the July counter-coup
The directive was contained in a memorandum dated July 13, 2026, and signed by the Chief Registrar of the Supreme Court, Kabir Akanbi.
Addressed to litigation staff, legal practitioners, court registrars and lawyers, the circular said the order took immediate effect and formed part of efforts to uphold professional standards within the apex court.
The memorandum read, “I am directed by the Honourable the Chief Justice of Nigeria to notify all Litigation Staff, Legal Practitioners, Court Registrars, and Lawyers that the use of the title ‘Barrister’ as a prefix to names is inappropriate and inconsistent with the standards of professionalism expected within the Supreme Court of Nigeria.”
It further directed all affected officers to immediately stop using the title in official correspondence and other official materials.
The memo stated, “Consequently, all officers concerned are hereby directed to discontinue the use of the title ‘Barrister’ before their names in all official correspondence, records, documents, identity materials, and any other official engagements with immediate effect.”
The memorandum added, “Heads of Departments and Unit Heads are requested to ensure strict compliance with this directive by all officers under their supervision. Please be guided accordingly.”
The directive comes weeks after the Council of Legal Education cautioned prospective lawyers against wearing wigs and gowns or presenting themselves as qualified legal practitioners before they are formally called to the Nigerian Bar.
The council said such conduct undermined the dignity of the legal profession and warned that violators could face disciplinary measures.
It also reminded candidates that the use of legal regalia is governed by the Rules of Professional Conduct and is reserved for duly qualified legal practitioners
The Enugu State Government says it has intensified fight against quackery across all health professions, particularly in the laboratory practice within the state.
The Commissioner for Health, Prof. George Ugwu, revealed this on Friday while receiving the National President of Association of Medical Laboratory Scientists of Nigeria (AMLSN), Dr. Casimir Ifeanyi, on a courtesy visit to his office in Enugu.
Ugwu decried the growing trend of unprofessional practices and establishments where laboratory services are combined with pharmacies, patient treatment areas, provision stores, and other unauthorised activities.
According to him, such practices are unacceptable and dangerous to public health.
He reaffirmed the government’s resolve to eliminate quackery especially in laboratory practices and operations through sustained monitoring, regulation and enforcement.
The commissioner also commended the association for its dedication to promoting excellence in medical laboratory science and public health advocacy.
He assured the team of the ministry’s willingness to collaborate with professional bodies whose activities align with the government’s vision of delivering accessible, quality, and people-centred healthcare services across the state.
Ugwu stressed the remarkable strides recorded under the administration of Gov. Peter Mbah in transforming the health sector, including investments in healthcare infrastructure, workforce development, primary healthcare revitalisation and improved service delivery.
He urged the association to remain steadfast in upholding professionalism and ethical standards, emphasising that stronger partnerships between government and healthcare professionals remained essential in building a healthier Enugu State.
Earlier, Ifeanyi, who made the visit with some members of his national executive and Enugu State Chapter of AMLSN, briefed the commissioner on the association’s forthcoming AMLSN Annual Public Health Lecture.
He solicited the state government’s goodwill, support and participation in the event, which would be held in Enugu.
“The annual lecture is aimed at advancing quality healthcare delivery, promoting public health awareness, and fostering stronger collaboration among healthcare professionals and government institutions,” he said.
He noted that the association remained committed to improving professional standards and supporting initiatives that would enhance healthcare outcomes for residents of Enugu State and Nigeria at large.
…Inaugurates Amufie Town Union executives
By Chinedu Sabastine
The Enugu State Government has urged Town Union President Generals (PGs) across the state to adopt inclusive leadership that promotes peace, unity and sustainable development in their communities.
The Commissioner for Chieftaincy Affairs and Rural Development, Chief Charles Egumgbe, gave the charge on Wednesday while inaugurating the newly elected 14-member executives of the Amufie Town Union in Igbo-Eze North Local Government Area.
The executive committee, led by the President-General, Engr. Kenneth Okechukwu Ogili, was presented with certificates of return at the ministry’s headquarters in Enugu.
Egumgbe urged the new leadership to ensure transparency, accountability and regular engagement with members, stressing that women and youths must be carried along in decision-making.
He advised the executives against operating exclusive caucuses, noting that town union affairs should be conducted openly through regular meetings where decisions are collectively taken.
“You must carry everybody along. Let your policies be all-inclusive and ensure that members are well informed about your activities. Matters should be tabled before the executive and decisions reached collectively,” he said.
The commissioner warned against abuse of office, particularly in matters relating to community land, stressing that anyone found working against the interest of the community could be removed under the state’s Town Union law.
“I don’t know whether you will receive remuneration because this is service to humanity. But whatever you do, don’t sell community land illegally. Land has a way of fighting for itself,” he cautioned.
Responding, the new inaugurated President-General, Ogili, pledged to lead with transparency and work closely with his executive to promote peace, unity and development in Amufie.
He said the administration would prioritise security by strengthening the neighbourhood watch and collaborating with security agencies to flush out criminals from identified flashpoints.
Ogili also promised to maintain a cordial working relationship with the traditional ruler of the community.
“The Igwe is our father. We have different constitutional roles, and there will be no conflict between us. We shall work harmoniously for the peace and progress of Amufie,” he said.
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