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.”
News
Nwabueze Denies Running ‘Fake Agency’, Says Made-in-Nigeria Project Has Operated Under OSGF for 16 Years
The National Coordinator and Executive Director of the National Brands Development and Made in Nigeria Special Project Office, George Nwabueze, has denied the allegation of running a “fake agency” in the country.
Nwabueze, who spoke with newsmen on Saturday, noted that he oversaw an office which was under the supervision of the Office of the Secretary to the Government of the Federation.
He noted that the office had been in existence for 16 years.
The Independent Corrupt Practices and other related offences Commission had on Friday said the President had ordered Nwabueze’s arrest for leading and promoting the outfit, which it tagged as a fake federal agency.
The ICPC said the accused was running it with the collaboration of senior public servants in the Office of the Secretary to the Government of the Federation.
But responding to our correspondent, the embattled executive director said, “Made in Nigeria Special Project Office is a project office in the OSGF. We don’t know where fake agency comes from. A programme that has been in the SGF’s office since 16 July 2010 was just discovered yesterday (Friday). After 16 years; Nigeria is a funny country.”
Nwabueze spoke while responding to our correspondent’s enquiries on LinkedIn, where he had earlier posted his appointment letter to rebuff ICPC’s claim of illegality.
The letter, dated October 3, 2025, was purportedly issued by the Office of the Secretary to the Government of the Federation.
It was referenced OSGF/MIN/59310/11/205 and signed by the Permanent Secretary, Political and Economic Affairs Office, Nadungu Gagare.
The letter, addressed to “Hon. George Buchi Nwabueze, National Coordinator, Made in Nigeria Project Office, OSGF, Three Arms Zone, Abuja,” conveyed the approval of his appointment as National Coordinator/Executive Director of the Made in Nigeria Project Office under the OSGF.
According to the document, the appointment was for a five-year tenure beginning from July 2025 and was renewable.
“I am directed to formally convey the approval of your appointment as National Coordinator/Executive Director of the Made in Nigeria Project Office under the Office of the Secretary to the Government of the Federation,” the letter stated.
It added that the appointment followed “a careful evaluation of your commitment, contribution, and capacity in delivering on the mandate of the Special Project Office.”
The document listed Nwabueze’s responsibilities to include the supervision and development of programmes, projects and policies; supervision of regional and state coordinators across the 36 states; and organisation of exhibitions, trade expos, economic summits and other promotional initiatives aimed at promoting indigenous products and services.
It further stated that the project was to operate temporarily from Room B53, Ground Floor, within the OSGF complex.
“Please note that this appointment is at the pleasure of the Secretary to the Government of the Federation, and in line with the objectives of the Made in Nigeria initiative under the Renewed Hope Agenda,” the letter said.
Efforts to engage Nwabueze further on the matter proved abortive as he declined response.
Former Speaker of the Abia State House of Assembly, Rt. Hon. Chinedum Enyinnaya Orji, has described Pastor Jerry Uchechukwu Eze as an exceptional man of God whose ministry has made a profound impact on humanity.
In a birthday congratulatory message issued on Saturday, August 22, 2026, Orji paid glowing tribute to the Senior Pastor of Streams of Joy International and Convener of the New Season Prophetic Prayers and Declaration (NSPPD).
“Your faith, selfless service, wisdom and commitment to the work of God continue to inspire countless lives. Your ministry has been a source of hope, guidance and spiritual upliftment to many,” Orji said.
The former Speaker further described Pastor Jerry Eze as a highly revered servant of God who is truly filled with the Holy Spirit, noting that testimonies of miracles, signs and wonders consistently follow the NSPPD prayer sessions.
While wishing the celebrant a happy birthday, Orji prayed that God would continue to increase him in ministry, wisdom, knowledge and understanding, and grant him long life in peace and happiness.
The Anambra state police command has arrested a suspect for allegedly impersonating, False Representation of Mr Linus Williams “BLord” and defrauding members of the public.
According to the charges of false representation using the name of Blood to defraud the public the 22 year old young man Hillary Tochukwu Enujekwu from Okpanam in Delta state is accused of committing the crime punishable under Section 386 of the Criminal Code , Cap 36 , Vol 2 Revised Law of Anambra state of Nigeria 1991.
However the Magistrate Court did not sit on this Friday and the accused was returned to the State Criminal Investigation Department Amawbia.
Speaking to reporters Mr Linus William aka Blord confirmed that the accused had been using a fake TikTok handle claiming that he is Blord adding that he is not active on TikTok and is yet to verify his TikTok.
“I am at the Magistrate Court Amawbia in respect of a matter that was brought to the Court over a young man that has been using my videos and my pictures to defraud the public for the past three years”
“He has been n notorious on TikTok and he has about 11 million likes on TikTok and about 870,000 or there about followers on TikTok”
“Meanwhile my original TikTok has about 150,000 followers with 1,5million likes but this young man has about 11.6 million and that is ten times of my profile and people take his profile as the real Blord profile and they have been transacting with him and defrauded more than 100 people millions of naira and dollars ”
“Many of them came to the station to write their statements and the young man has confessed and agreed to the crime and the family has been begging for us to know how to settle the matter”.
“We came to Court today but the Court did not sit and they are taking the boy back to Police custody State Criminal Investigation Department where he is being remanded”
William recalled that when the matter came up, he reported to the Police who took action and arrested boy and invited him over to come and see the suspect .
“We went through his phone and all the videos on his phone are my videos, the number that he has been using to defraud them and once you call that number his number will ring and he used it to defraud people running into millions, 1,000 dollars , 3,000 dollar’s 5 million at different scenario and people believe that I was the one that defrauded them”.
“When he defraud the victims he will tell them to come to the office and we have nine different branches of my office and when they come we tell them that it not Blord profile” he said.
William thanked the Police for a job well done addin that he is innocent of those allegations against him.
William further explained that his outfit is verifiable on Instagram adding that his TikTok is yet to be activated .
“The Blord is on Instagram and I have a verify Instagram and verified Facebook but am not on TikTok and I am working towards verifying myself on TikTok”
“For you to get a legitimate Blord, make sure that the profile is verified and and if you feel doubted, we have office in nine major Cities and one should be close to you and you can come to the office and do your transactions ” he said.
When contacted, the Police Public Relations Officer SP Tochukwu Ikenga said that the matter is before the Court of law hence cannot comment on it .
News
2027: Mandate Group Endorses ex Abia Speaker Chinedum Orji for Ikwuano/Umuahia Fed Constituency Seat
The Ikuku 2027 Mandate Group has endorsed former Speaker of the Abia State House of Assembly, Rt. Hon. Chinedum Enyinnaya Orji, as its preferred candidate to represent Ikwuano/Umuahia North/Umuahia South Federal Constituency in the House of Representatives in 2027.
In a statement titled, “Representation with Experience, Legislation with Results: The Ikwuano/Umuahia Compact for 2027,” the group said its position followed what it described as a careful assessment of aspirants seeking to represent the constituency.
According to the group, Orji stood out on the basis of his experience, capacity, character and record of public service, having previously served as Leader and Speaker of the Abia State House of Assembly.
The group said its support for the former Speaker was based on what it described as a desire to take tested legislative experience to the National Assembly.
“We are presenting Rt. Hon. Chinedum Enyinnaya Orji to represent our Federal Constituency in 2027. This is not a campaign of noise. It is a campaign of structure, law, and delivery,” the group stated.
It said Orji’s experience in presiding over legislative debates, passing budgets and exercising oversight over the executive would equip him to effectively represent the constituency in Abuja.
The group outlined security, economic relief, youth employment, education, healthcare, infrastructure, agriculture and transparency as key areas of its proposed legislative agenda for the constituency.
On security, it said Orji would support legislation aimed at strengthening community policing, local security architecture and federal intervention against kidnapping and violent crime across Ikwuano, Umuahia North and Umuahia South.
The group also said he would focus on legislation and oversight aimed at reducing the cost of doing business, improving access to credit for small and medium-scale enterprises and protecting households through scrutiny of policies affecting fuel and electricity costs.
On youth development, the group said the proposed agenda would seek to connect young people in the constituency to federal employment, entrepreneurship and skills-development programmes, including initiatives of the National Directorate of Employment and the Bank of Industry.
It added that education and healthcare would also feature prominently, with plans to advocate increased intervention in schools, expand access to scholarships and bursaries, and pursue improvements in primary healthcare and federal health infrastructure across the three local government areas.
The Ikuku 2027 Mandate Group further said Orji would use legislative engagement, budgetary advocacy and oversight to pursue federal road, electrification and water projects in the constituency.
“A legislator does not build a road, but he fights for it in the budget and monitors it,” the group stated, adding that quarterly reports on approved projects and their implementation would form part of its proposed accountability framework.
On agriculture, the group said the agenda would focus on policies supporting agro-processing, storage facilities, access to agricultural grants and improved market access for farmers, particularly in Ikwuano.
It also promised an open and accessible representation model, including annual scorecards, town-hall meetings across the three LGAs and a public tracker for constituency interventions.
The group said women, persons with disabilities and other underrepresented groups would also feature in its inclusion agenda, alongside support for women-owned businesses and girls’ education.
It further argued that the constituency deserved stronger federal presence, including more intervention programmes, training centres, agencies and infrastructure projects.
According to the group, its 2027 campaign would be built around ward-level engagement, policy town halls and what it described as data-driven voter outreach.
“Sloganeering gets attention. Campaigning gets results. And with Chinedum, you get both,” it stated.
The group described the proposed agenda as a “compact” with the people of Ikwuano/Umuahia North/Umuahia South, built around legislation, effective oversight, accessible representation and transparency.
“This is our contract with you: Legislation that protects. Oversight that delivers. Representation that is accessible. In 2027, vote for experience that has led, and leadership that will legislate,” the group stated.
It adopted the campaign message: “Ikwuano/Umuahia First. Experience That Works.”
The statement reads in full
REPRESENTATION WITH EXPERIENCE, LEGISLATION WITH RESULTS: The Ikwuano/Umuahia Compact for 2027″
BY IKUKU 2027 MANDATE GROUP
1. THE VERDICT AFTER SCRUTINY
After a careful examination and scrutiny of all those aspiring to represent Ikwuano/Umuahia North/Umuahia South Federal Constituency, and after weighing verifiable empirical indices of service, capacity, and character, one name stands clearly above the rest: Rt Hon Chinedum Enyinnaya Orji. He stands out as the most suitable because he has distinguished himself as a man of independent mind, tested experience, natural charisma, loyal followership, and above all, a human heart that beats for the people. In a race where many talk, he has a record to show.
2. THE MANDATE
We are presenting Rt Hon Chinedum Enyinnaya Orji to represent our Federal Constituency in 2027. This is not a campaign of noise. It is a campaign of structure, law, and delivery. Having served as Leader and Speaker at the subnational level, he understands how to turn the voice of the people into laws that actually work.
3. WHY EXPERIENCE MATTERS
As former Leader and Speaker, Chinedum presided over debates, passed budgets, and held the executive to account. That is the experience we are taking to Abuja: the skill to draft bills, build consensus across party lines, and ensure our constituency is not just present, but influential in the National Assembly.
4. SECURITY OF LIVES AND PROPERTY
For us, the first duty is safety. Chinedum will sponsor and support legislation to strengthen community policing, support local security architecture, and increase federal intervention against kidnapping and violent crime across Ikwuano and the two Umuahia LGAs. A safe constituency is a productive constituency.
5. THE ECONOMY AND COST OF LIVING
Food, transport, and power costs are biting our people. His focus will be on laws that reduce the cost of doing business for our traders in Umuahia markets, support SMEs with access to credit, and protect households through oversight of fuel subsidy reforms and electricity tariff structures. We are legislating relief, not just talking about it.
6. JOBS, YOUTH AND SKILLS
Youth unemployment is not a slogan to Chinedum. It is a policy problem. He will push for a Federal Constituency Skills and Entrepreneurship Act to link our young people to NDE, BOI, and digital job programs. Internships, vocational centers, and startup support will be tracked quarterly and reported back to the people.
7. EDUCATION AS A FOUNDATION
From primary schools in Ikwuano to tertiary access in Umuahia, education must work. He will advocate for increased UBEC and TETFund releases to our schools, sponsor bills for STEM (Science , Technology, Engineering, Mathematics) and vocational education, and establish a transparent constituency scholarship and bursary scheme tied to merit and need.
8. HEALTHCARE THAT REACHES YOU
Our PHCs must have drugs, staff, and power. Chinedum will use legislative oversight to ensure NHIA ( National Health Insurance Authority) enrollment drives reach our wards, push for constituency health bills, and lobby for federal health infrastructure upgrades in our three LGAs. No mother should die giving life.
9. POWER AND INFRASTRUCTURE THROUGH LAW
A legislator does not build a road, but he fights for it in the budget and monitors it. Chinedum will lobby for the inclusion of key Ikwuano-Umuahia roads, rural electrification, and water projects in federal budgets, and he will publish quarterly reports on what was approved and what was delivered. Oversight is his promise.
10. AGRICULTURE AND MARKET ACCESS
Ikwuano’s farmland and Umuahia’s markets are economic engines. He will support legislation for agro-processing, storage facilities, and easier access to federal agricultural grants. We will connect farmers to markets and reduce post-harvest losses through policy, not promises.
11. GOOD GOVERNANCE AND TRANSPARENCY
Having been Speaker, Chinedum knows how budgets are padded and projects disappear. He will run an open office: annual scorecards, town halls in all three LGAs, and a public tracker for all constituency interventions. The people must see where the money goes.
12. WOMEN AND INCLUSION
Legislation must reflect everyone. He will champion bills that support women in business, protect girls’ education, and ensure 35% inclusion of women and PWDs in constituency appointments and programs. Representation without inclusion is incomplete.
13. FEDERAL PRESENCE FOR OUR CONSTITUENCY
We deserve more federal projects and institutions. Chinedum will use his legislative relationships to attract agencies, training centers, and intervention programs to Ikwuano/Umuahia North/Umuahia South. Our size and capital city status must translate to federal advantage.
14. CAMPAIGNS, NOT JUST SLOGANS
Let’s be clear: electioneering is more than chants. This campaign will be built on ward-to-ward engagement, policy town halls, and data-driven voter outreach. Yes, we will have a message you can remember. But behind every slogan will be a bill number, a budget line, and a plan. Sloganeering gets attention. Campaigning gets results. And with Chinedum, you get both.
15. THE COMPACT
This is our contract with you: Legislation that protects. Oversight that delivers. Representation that is accessible. In 2027, vote for experience that has led, and leadership that will legislate.
“Ikwuano/Umuahia First. Experience That Works.”
Hon. Alex Mascot Ikwechegh, Member representing Aba North/Aba South Federal Constituency, has commended President Bola Ahmed Tinubu for what he described as “responsive leadership” following the Federal Government’s decision to accelerate implementation of the 2026 budget.
Speaking on Magic FM, Aba, on Thursday, Ikwechegh said the renewed push to release funds to Ministries, Departments and Agencies demonstrated that the President listens to the legislature.
“Mr. President has shown he is a listening President who has the interest of the nation at heart. He did not see our concerns as opposition. He saw them as part of our job to ensure Nigerians get value for money,” the lawmaker stated.
Ikwechegh had earlier drawn national attention after raising a motion on the floor of the House over delays in budget releases despite appropriations passed by the National Assembly. The intervention sparked debate among lawmakers over the slow pace of capital project execution.
The Federal Government has since announced measures to fast-track releases under the 2026 Appropriation Act, which provides for an aggregate expenditure of ₦68.32 trillion, with ₦32.2 trillion earmarked for capital expenditure.
According to Ikwechegh, legislative oversight is most effective when it produces concrete results.
“Our job is to speak firmly when policies are not working, and to also acknowledge when government takes corrective action. That is how the executive and legislature serve the people together,” he said.
The Abia lawmaker stressed that the real test of the budget lies in delivery — completed roads, functional hospitals, jobs for youths, and improved services across constituencies.
He expressed optimism that with improved coordination between the National Assembly and the Presidency, Nigerians will increasingly begin to feel the impact of the 2026 budget as implementation gathers momentum.
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