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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WORLD BANK BANS NIGERIAN FIRMS AND CEO FOR FRAUDULENT ACTIVITIES. (PHOTO).

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 World Bank Bans Nigerian Firms and CEO for Fraudulent Activities

The World Bank Group has imposed a 30-month ban on two Nigerian companies, Viva Atlantic Limited and Technology House Limited, as well as their Managing Director and CEO, Mr. Norman Bwuruk Didam, for engaging in fraudulent, collusive, and corrupt practices related to Nigeria’s National Social Safety Nets Project.


The World Bank’s investigation revealed major violations of its Anticorruption Framework during a 2018 procurement process. The companies and Mr. Didam were found to have misrepresented conflicts of interest in their bids and unlawfully accessed confidential tender information from public officials. Additionally, Viva Atlantic Limited and its CEO were involved in falsifying experience records, submitting forged authorization letters, and offering bribes to project officials.

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