CBN DEBUNKS FAKE NEWS ON NEW N5,000 AND N10,000 BANKNOTES.(PHOTO).

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  The Central Bank of Nigeria (CBN) has dismissed a viral claim circulating on social media about the introduction of new ₦5,000 and ₦10,000 banknotes, labeling it as fake news. The claim, which included fabricated images of the supposed new denominations featuring Dr. Nnamdi Azikiwe and Chief Obafemi Awolowo, falsely stated that the new notes would enter circulation from May 1, 2025. In a statement on its verified Facebook account, the CBN clarified that the content is not from the bank and directed the public to its official website, (www.cbn.gov.ng), for authentic information. The bank warned against spreading misinformation regarding monetary policies and urged Nigerians to rely only on official statements from its verified channels. The CBN reaffirmed that any major policy decision, including the introduction of new banknotes, would be announced through its official platforms. The public is advised to remain cautious and verify financial information from credible sources befor...
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BENIN COURT CONVICTS PHARMACEUTICAL COMPANY FOR ISSUANCE OF DUD CHEQUE.(PHOTO).#PRESS RELEASE.

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Benin Court Convicts Pharmaceutical Company for Issuance of Dud Cheque

The Benin Zonal Command of the EFCC on June 21, 2022, secured the conviction of Illustrious Pharmacy and Store Limited before Justice Efe Ikponmwonba of Edo State High Court, Benin City.

The company was arraigned on a one count charge of issuance of dud cheque through one of its directors, Akin Gbenga Samuel.

The charge reads: “that you Illustrious Pharmacy and Store Ltd through one of your Directors, Mr. Akin Gbenga Samuel on or about 21st day of April, 2021 at No, 18 Upper Ekenwa Road, Ugbiholiho Quarters, Benin City, Edo State within the jurisdiction of this Honourable Court did issue a First Bank cheque no: 0060401524 for the sum of N1,000,000(One million naira) to one Francis Ave Ent, for the goods given to you on credit and issued to the said Francis Ave Ent. a cheque to offset the financial obligation, upon presentation in the bank, it was returned unpaid for insufficient funds standing to the credit of the said Illustrious Pharmacy and Store Ltd and thereby committed an offence punishable under Section 1(1)(b)(ii) of Dishonoured Cheques (Offences).Act Cap D11 Laws of the Federation of Nigeria 2004”.

The company pleaded guilty to the charge prompting counsel to the EFCC, I.K. Agwai, to ask the court to convict it.




 

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