PUTIN WOOS AFRICAN LEADERS AT SHOWCASE SUMMIT, SAYS RUSSIA IS BETTER PARTNER THAN 'COLONIAL' WEST. (PHOTO).

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 Putin woos African leaders at showcase summit, says Russia is better partner than 'colonial' West President Vladimir Putin told African leaders ​on Wednesday that Russia was their best partner, accusing what he cast as a colonial West of still trying ‌to exploit the continent's resources and using debt to hold back development, Reuters reported. The Kremlin chief was speaking at the third Russia-Africa Summit in Moscow, a two-day event attended by African leaders and government delegations from 48 countries, during which he will hold one-on-one talks with many of the 22 individual African leaders ​attending on everything from trade to security, arms deals and grain supplies. "Africa is increasingly asserting itself as one of the key players in the global economy and politics. However, the emergence of a multipolar world is, of ​course, no easy task; it faces resistance from countries that are not prepared to accept this reality: those who are accustomed to ​thinking i...
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NO PLAN TO PHASE OUT NEW BANKNOTES- CBN.(PHOTO).#PRESS RELEASE.

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'No Plan To Phase Out New Banknotes’ - CBN

Central Bank of Nigeria (CBN) says it has no plan to phase out the newly redesigned banknotes as more of the banknotes will be in circulation soon.

The Apex Bank was reacting to recent news making rounds that the newly designed notes will be phased out soon.

In a statement, CBN’s Acting Director of Corporate Communications, Isa AbduMumimas described the reports as baseless and an attempt by some persons to cause panic amongst Nigerians.

The Apex bank said the old and newly redesigned notes would be in circulation side by side.

“We wish to reiterate that the new and old currency notes have been circulating side by side just as the Bank has been taking delivery of a good quantity of the redesigned bank notes from the Nigerian Security Printing and Minting Company (NSPMC) Limited.” The bank stated.

CBN added that the old naira notes will continue to be accepted as legal tender till December 31, 2023 when the old N1000, N500 and N200 would have been phased out.


 

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