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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NATIONWIDE FUEL SCARCITY LOOMS AS IPAMAN ISSUES ULTIMATUM OVER UNPAID N100BN BRIDGING CLAIMS. (PHOTO).

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 Nationwide Fuel Scarcity Looms as IPMAN Issues Ultimatum Over Unpaid N100bn Bridging Claims


The Independent Petroleum Marketers Association of Nigeria (IPMAN) has issued a seven-day ultimatum to the Federal Government, threatening to halt fuel distribution nationwide over an outstanding N100 billion bridging claim.


During a press briefing in Abuja, the Chairman of the IPMAN Depot Chairmen Forum, Yahaya Alhasan, accused the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of failing to settle the debt, despite a 40-day payment promise made in the presence of National Security Adviser Nuhu Ribadu.


Alhasan warned that nine northern depots, including those in Jos, Gusau, Minna, Suleja, Kaduna, Kano, Gombe, Yola, and Maiduguri, have already shut down operations due to the unresolved debt.


IPMAN also criticized the NMDPRA for imposing a 5% levy on the sale of petrol stations and other “unconstitutional” charges, which it described as detrimental to the sector.


To enforce their demands, the association announced plans to collaborate with the Petroleum Tanker Drivers (PTD) and the Nigerian Association of Road Transport Owners (NARTO) to suspend fuel transportation if payments are not made by the deadline.


Calling on President Bola Tinubu to intervene, IPMAN urged its members to remain law-abiding while awaiting the government’s response.

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