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.”
Rt. Hon. Barr. Sunday Cyriacus Umeha has continued to distinguish himself not only as a grassroots politician but as a sound parliamentarian who clearly understands the true essence of legislative representation and public service.
Since emerging as the Member representing Ezeagu/Udi Federal Constituency in the House of Representatives, Umeha has consistently demonstrated capacity, vision, and commitment both on the floor of the National Assembly and within his constituency.
Unlike many politicians whose promises disappear after elections, Rt. Hon. Umeha has steadily transformed his campaign mantra, “Go and Verify,” into practical realities visible across communities in Ezeagu and Udi Federal Constituency.
From road construction to solar-powered streetlights, classroom projects, healthcare interventions, agricultural empowerment, scholarships, boreholes, and youth development programmes, his stewardship has remained rooted in service delivery and measurable impact.
Observers say one of the strongest qualities that separates Umeha from many lawmakers is his deep understanding of parliamentary responsibilities. Through strategic bills and motions, he has continued to show that representation goes beyond rhetoric and political appearances.
Among several notable legislative efforts, he sponsored bills seeking the establishment of a Federal College of Entrepreneurship and Skill Acquisition in Ezeagu/Udi Federal Constituency, reforms in the education sector through the abolition of levies in public basic schools, mandatory insurance protection for NYSC members, and the establishment of a National Football Academy.
He also sponsored motions addressing critical national concerns, including the investigation into the gruesome killing of Nigerians by soldiers in Enugu State and the urgent completion of the Karshi/Apo Road project in Abuja to ease traffic congestion.
Political analysts note that these interventions reflect a lawmaker who understands that effective representation must combine constituency development with strong legislative advocacy.
Many constituents equally commend him for remaining faithful to the promises he made during his campaigns. Across the constituency, residents point to completed and ongoing projects as evidence that the lawmaker has not reneged on his commitments to the people.
Beyond governance and legislative duties, Rt. Hon. Umeha also played significant roles in efforts aimed at restoring sanity, stability, and internal cohesion within the Labour Party before his eventual defection to the APC.
Sources within the political space in Enugu State revealed that Umeha consistently pushed for peace, unity, and institutional order within the party during periods of internal crisis and leadership disagreements. His interventions were said to be driven by the desire to protect the interests of party members and preserve the integrity of the platform.
However, following prolonged internal challenges and unresolved structural issues within the Labour Party, the federal lawmaker eventually moved to the All Progressives Congress (APC), a decision many political observers described as strategic and inevitable.
Despite the political transition, supporters insist that his focus has remained unchanged — delivering quality representation, empowering constituents, and sustaining developmental projects across Ezeagu/Udi Federal Constituency.
For many residents, Rt. Hon. Barr. Sunday Cyriacus Umeha represents a rare blend of grassroots leadership, legislative competence, humility, and political responsibility.
And across the constituency, the verdict from many communities remains simple:
“He promised, and he delivered.”
Today, Friday 8 May 2026, Chief Sir Paul Chukwuma (Onwa Umueri) laid his beloved sister, Late Mrs Christiana Amaka Okeke to rest in a solemn but dignified ceremony.
A large number of family and friends gathered in Ogboji in Orumba South Local Government Area for her burial.
It was a solemn yet beautiful celebration of a life well lived, one marked by grace, resilience, and strong family values. The Funeral Mass was officiated by His Emience, Cardinal Peter Ebere Okpalaeke, The Catholic Bishop of Ekwulobia Diocese.
In a heartfelt family tribute, Chief Sir Paul Chukwuma shared that her sister “it is indeed well with your soul and has gone to rest with the Lord,” expressing profound grief over the irreplaceable loss of a beloved sibling who played a significant role in their family. He prayed for God to grant her His mercy and reward her with Beatic Vision. He opined that they as a family will continue from where she stopped. Our Hope in God and Believe in the resurrection of the dead and communion of the saints will spur them on as they continue to place all their hopes in God who made Heaven and Earth.
The Funeral and Burial Ceremony was graced by notable dignitaries including Her Excellency Senator Dr Iyom Uche Ekwunife, APC State Chairman, Most Distinguished Senator Emma Anosike, Chief Uzoma Igbonwa (Okeife Alor), YPP Deputy Governorship Candidate 2025 Governorship Election, His Excellency, Chief Uzu Okagbue, Former Nigeria Ambassador to Burundi, His Excellency, Ambassador Elijah Onyeagba (Ozonkpu Ike Enuguwu-Ukwu N’Umunri, Dr Oby Orah, Executive Director FAAN, Prof Charles Esimone, Former Vice Chancellor Unizik, Chief Hon Raph Okeke, Barr CJ Chinwuba, Hon Chizo Obidigwe, Hon JC Okeke (Deputy Chairman ,APC Anambra State, chief Anthony Obiazie (Ichie Ide), Onwa Lento Aluminium.
Others are The Vice Chancellor of Benue State University and Members of the Governing Council, the Rector Anambra State Polytechnic,Dr Njideka Rita Chiekezie, Hon Obi Henry APC State secretary, Hon Ify Nwachukwu (Ada Onowu), Prof Jaja Nwanegbo, and several other respected leaders from the political, traditional, and religious communities.
Late Mrs Christiana Amaka Okeke died after Major Brain Tumour Surgery in Germany, aged 44 years. May the soul of Late Mrs Christiana Amaka Okeke rest in perfect peace, and may God grant the entire Chukwuma of Umueri and Okeke family of Ogboji, the strength and comfort to bear this irreparable loss.
*Videos and Photos Speak:*
*(C) Paschal Candle.*
By Okey Maduforo Awka
Gubernatorial candidate Mr John Nwosu and running mate of the African Democratic Congress ADC in Anambra state Chief Ndubuisi Nwobu have stated that despite the deoature of Mr Peter Obi, and Alhaji Rabiu Musa Kwankwaso,the party is still intact and would run it’s full course in the 2027 general election.
The duo however lamented that the deoature of Obi is indeed painful but was quick to add that the party must forge ahead .
He said as leaders, Obi and Kwankwaso and other key chieftains of the ADC who suddenly left to the Nigeria Democratic Congress (NDC) would have waited to resolve the problems the ADC is facing when it mattered most rather than taking a swift to another fold.
Chief Nwobu bared his mind and feelings of other stakeholders of the ADC while briefing newsmen shortly after the ADC Anambra Leadership Consultative Meeting held on Friday in Awka the state capital.
He noted with nostalgia that the candidate of the Labour Party (LP) during the 2023 general elections, Mr. Peter Obi could have shown restraint and commitment in the ADC even in face of the party’s plethora of litigations pending before different courts than leaving it unceremoniously with others.
He vowed that despite the development, leaders and members of the State chapter of the ADC are resolute to take the full circle of the electoral battle ahead of next year’s general elections and would get to it to successfully.
Accorisng to him, the National leadership of the party was not given the opportunity to settle down even less than 24 hours before the supreme Court judgment on Thursday last week when news about the detection of those who left the party rented the air waves up till Friday and Saturday same week and finally on Sunday when the news was finally blown to the entire world.
Nwobu disclosed that the opposition ADC in the state at the moment parades about nine House of Representatives and six State House of Assembly aspirants who have bought nomination forms to contest the 2027 elections while more have indicated interest to join the epical race.
The ADC stalwart further maintained that all those who indicated interest to contest the various positions are greatly prepared to run the race with high morals.
“We feel pains that these people left the party (ADC); definitely it’s going to affect the gains of the party. There’s no point saying every other thing. That having been said I am telling you that those who remain in the party are resolute and prepared to run the course.
He said the ADC Anambra Leadership Consultative Meeting reaffirm loyalty and support to the National leadership under David Mark as national chairman and Rauf Aregbesola as the National Secretary.
Nwobu who was flanked by Hon. Christian Okeke, Ven. Chris Orajekwe and Arch. Afam Moma, Samuel Ikefuna, and Reginald Akunekwe and Ben Chuks Nwosu said “the state leaders reaffirm loyalty and support of the ADC Anambra state to the National leadership headed by Senator David Mark and His Excellency Rauf Aregbesola.”
“The meeting resolved to commend the founding chairman of the ADC Chief Ralph Okey Nwosu for the exemplary show of representing the ADC platform as an umbrella body for the coalition and his selfless role In navigating the coalition to it’s fruition.”
“And we wish to affirm that the ADC’s best is from Anambra state and Anambra state will not be found wanting in the efforts of the party to achieve success during the 2027 general elections,” he said.
“For our brothers who has moved on tp other platform, we wish them well. I look forward to a day we will all join hands together to salvage this country,” Nwobu stated.
He explained further that no new leadership has been Inaugurated in Anambra,adding that that it’s unnecessary for somebody to say he or she has resigned as the party is still contending on issues of offices, conduct of Congresses at the Federal High court.
Chief Nwobu stated that the Inauguration of officials elected at Congresses across the states would be made on the 11th of this month.
“Go and Verify”: How Sunday Umeha Is Redefining Representation in Ezeagu/Udi
Chief Sir Paul Chukwuma Lays His Beloved Sister to Rest
2027: Anambra ADC Intact Despite Obi, Kwankwaso Departure – Guber Candidate
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