TIME 100 GLOBAL HONOUR: LAGOS TOURISM MINISTRY SALUTES MO ABUDU. (PHOTO). #PRESS RELEASE.

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 TIME 100 GLOBAL HONOUR: LAGOS TOURISM MINISTRY SALUTES MO ABUDU The Lagos State Commissioner for Tourism, Arts and Culture, Mrs. Toke Benson-Awoyinka, on behalf of the Ministry, has extended heartfelt congratulations to Ms. Mo Abudu, Founder and Chief Executive Officer of EbonyLife Group, on her prestigious recognition as one of TIME Magazine's 100 Most Influential People in the World for 2025. Describing the honour as remarkable and well-deserved, the Commissioner applauded Ms. Abudu for her unparalleled impact on the global creative landscape through storytelling, media innovation, and a deep-rooted commitment to changing the African narrative. Mrs. Benson-Awoyinka noted that Ms. Abudu’s latest recognition stands as a proud moment for Lagos State and the Nigerian film industry, affirming the vibrancy and excellence of local talent on a world-class platform. “Mo Abudu’s trailblazing work continues to redefine what is possible within Africa’s creative economy. Her journey is a pow...
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HOUSE OF REPS ASKS CBN TO WITHDRAW OLD NAIRA NOTES, RELEASE SUFFICIENT NEW NOTES. (PHOTO).

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 House of Reps Asks CBN To Withdraw Old Naira Notes, Release Sufficient New Notes


Nigerian Lawmakers have urged the Central Bank of Nigeria (CBN) to ensure wide circulation of new notes of N200, N500 and N1000 as well as begin a gradual withdrawal of the old notes from circulation.


This call was made after a motion raised by Adam Victor Ogene (LP, Anambra), demanding that the Central Bank of Nigeria (CBN) should kick-start awareness programmes for Nigerians to be aware and prepare for the deadline of December 31, 2024.


Contributing to the discussion, the Labour Party lawmaker recounted the hardship, frustration, controversy and chaotic situation the implementation of the policy earlier caused in 2023.


He added that the scarcity of the new currency notes led to untold hardship in the nation as a result of the CBN’s inability to supply new versions of the changed currency notes.


"Going by the Supreme Court’s subsequent ruling and order, the N200, N500 and N1000 notes shall cease to be legal tender, medium of exchange for goods and services in Nigeria, and shall also cease to be in circulation as from January 1, 2025,” the lawmaker said. 


In 2022, a controversy erupted in Nigeria after the Central Bank of Nigeria (CBN), under the leadership of then-Governor Godwin Emefiele, announced plans to redesign and introduce new versions of three denominations of banknotes: N200, N500, and N1000.


The existing notes were to remain valid until January 31, 2023. 


The move had sparked widespread debate and discussion across the country.


According to Emefiele, the decision was reached due to persisting concerns around the number of naira notes outside the banking system.

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