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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SOUTH AFRICAN LAWYER ARRESTED FOR ALLEGED R10 MILLION RAF FRAUD. (PHOTO).

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Attorney Michael Senotse Mabunda, 42, Arrested for Alleged R10 Million RAF Fraud

 Mabunda, accused of defrauding Road Accident Fund claimants, was served with a summons in connection with a 2019 case at Pretoria North police station. As an attorney, he filed RAF claims on behalf of clients and received R10,562,173.21 into his trust account. However, it’s alleged he failed to transfer these funds to clients, causing significant financial losses.


Mabunda appeared in Pretoria Specialized Commercial Crimes Court on 15 October 2024, and the case has been postponed to 26 November 2024, for further proceedings.


This incident highlights concerns about attorneys misusing client funds, similar to cases involving attorneys Manfred Chinamasa and Daniel Themba Mabunda, who faced charges of embezzling RAF money from clients.


The legal profession is highly regulated, and such actions can lead to severe consequences, including prosecution and disciplinary action by the Legal Practice Council.

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