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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FALANA SUES IKEJA ELECTRIC FOR BREACHING 20-HOUR BAND 'A' POWER SUPPLY. (PHOTO).

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 Falana Sues Ikeja Electric For Breaching 20-hour Band ‘A’ Power Supply


Justice Lewis Allagoa of the Federal High Court in Lagos has granted human rights activist, Femi Falana, permission to initiate legal proceedings against Ikeja Electric Plc.


The judge specifically granted Falana leave to obtain a writ of mandamus compelling the electricity company to provide detailed information regarding its compliance with the commitment to supplying a minimum of 20 hours of uninterrupted power per day to the Band “A” category of customers.

The judge’s decision followed an urgent ex-parte application filed and argued by a lawyer, Tope Alabi, from Falana & Falana Chambers.

The motion was backed by a 14-paragraph affidavit sworn by a legal officer from the NBA Ikeja, Titilayo Omolasho.


The affidavit stated that in April 2024, Ikeja Electric Plc categorised customers into bands – Bands “A,” “B,” “C,” and “D” – and began implementing these categories immediately, along with corresponding high tariffs.

Omolasho also claimed that Falana was placed in Band “A,” which had a financial implication of N225 per kWh, later reduced to N206.80 per kWh on May 6, 2024.


She also argued that since initiating the Band “A” classification and committing to provide 20 hours of uninterrupted power supply per day, Ikeja Electric has failed to deliver this service.

Omolasho further stated in the affidavit that Falana had requested information from the company in a letter dated May 24, 2024, regarding compliance with the Nigerian Electricity Regulatory Commission (NERC) directive to provide 20 hours of electricity to Band “A” customers.

She claimed that the respondent has since failed, refused or neglected to provide the requested detailed information and has given no reason for this refusal till the time of filing this report.

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