CONVICTED WAR CRIMINAL LUBANGA ANNOUNCES NEW REBEL GROUP IN EAST CONGO.(PHOTO).

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 Convicted war criminal Lubanga announces new rebel group in east Congo A convicted war criminal based in Uganda has announced a new rebel movement intent on toppling the government in eastern Congo's Ituri province, creating another potential security threat in the war-scarred region, Reuters reported. The formation of the Convention for the Popular Revolution (CPR) by Thomas Lubanga, an Ituri native, comes as Congo's army faces an unprecedented advance by Rwandan-backed M23 rebels elsewhere in eastern Congo. The International Criminal Court secured its first conviction against Lubanga in 2012 on charges of recruiting child soldiers and sentenced him to 14 years in prison. He was released in 2020 and President Felix Tshisekedi appointed him to a task force to bring peace to Ituri. But in 2022 he was taken hostage for two months by a rebel group, which he blames on the government, and is now based in Uganda. In written responses to questions from Reuters, Lubanga said the CPR h...
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WE ARE NOT INTRODUCING N5,000 NOTE-CBN.(PHOTO)

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We are not introducing N5,000 note — CBN


The Central Bank of Nigeria (CBN) says it has no plan to introduce N5,000 denominated bank note as being speculated by some sections of the society.

Ahmed Umar, the Director, Currency Operations of CBN clarified this at a three-day workshop organised by the Nigeria Deposit Insurance Corporation (NDIC), for members of the Financial Correspondents Association of Nigeria (FICAN) and Business Editors.

The News Agency of Nigeria (NAN) reports that the workshop, which opened on Monday in Port Harcourt, has as its theme: “Building Depositors Confidence Amidst Emerging Issues and Challenges in the Banking Industry.”

Umar who spoke on the topic, “Redesign of the Naira: Benefits to the financial system and the Nigerian economy”, said the apex bank was not carrying out note restructuring.

“We are not introducing any new note because there was noise, some people have seen one N5,000 note that we don’t know about,” he said.

Umar was represented by Amina Halidu-Giwa, the Head, Policy Development Division, Currency Operations Department of the bank.

He explained that if the apex bank wanted to carry out note restructuring, it would need to coin the lower bills, like the N100 note for example.

He also said that the apex bank had not made any provision for exchange in the redesigned note, adding that what it was printing would only replace the currencies withdrawn.

“What we are printing is going to be very limited because we want other means of settling transactions to be used.

“Because Nigerians and cash, there seems to be a problem. And it will give us enhanced visibility and control of the currency.

“We will also be able to control the number of banknotes outside,” he said.

The New Agency of Nigeria (NAN) reports that videos of some bundles of new N5,000 notes with the name of the Central Bank of Nigeria clearly printed on them, circulated on WhatsApp immediately after the apex bank announced plans to redesign the N200, N500, and N1,000 notes in October. (NAN)


 

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