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...

OLUKOYEDE TO LG CHAIRMEN: "BE ACCOUNTABLE, YOU HAVE NO IMMUNITY FROM INVESTIGATION".(PHOTOS). #PRESS RELEASE.


 Olukoyede to Local Government Chairmen: “Be Accountable, You Have no Immunity from Investigation”

 

 The Executive Chairman of the Economic and Financial Crimes Commission,  EFCC,  Mr. Ola Oluoyede has charged local government Chairmen across the country to take the issue of accountability seriously as they do not have immunity from investigation and prosecution for fraud.

 

He gave the charge in Gombe, Gombe state on Wednesday, February 19, 2025  while speaking at the Gombe State Local Government Summit. He pointedly told the local council Chairs to be prudent in the management of huge resources at their disposal stressing that  “Local government chairmen do not have immunity and we are not going to wait until you finish your tenure to come after you”.

 

 The EFCC’s boss decried the stagnation, poverty and deprivation rampant in rural areas across the country in spite of enormous resources that have been deployed to those places over the years. "The impact of these resources are not felt by the people living in these areas. Councils instead of becoming catalysts of growth, have become caricatures existing only in name”, he said.

 

 To ensure prudent management of resources and accountable stewardship,  he recommended to the Chairmen the need to establish a compliance unit to assist them in monitoring the use of resources and the delivery of projects. He informed them  that the Commission has established a Fraud Risk Assessment and Control ,FRAC,  Department, adding that officers of the Department will be visiting local government  councils in Gombe state to monitor the use of the expected enhanced receipts from the Federation account. "EFCC will be paying you visits occasionally to monitor how you are using the funds. We will come in the evening. Sometimes you may even be seeing us in your dreams, " he said

 

The EFCC boss commended the Gombe State Governor Alhaji Muhammad  Inuwa  for his shared prosperity vision with council leaderships. "If most governors are like you, I will have less work to do."

 

In his own  contribution,  the Chairman of ICPC Musa Adamu Aliyu expressed dismay that only seven out of  the 774 local government councils in Nigeria have websites, which makes it difficult to monitor their expenditures. 

In his opening remarks,  Governor Inuwa said the Summit was designed to improve the capacity of the Local Government administration in the state to meet the expectation of the people in the light of the new autonomy granted the council. "For autonomy to be beneficial and useful, the councils must have capacity and discipline to utilize their resources for the good of the people." 


He noted that Gombe State was not caught unaware  by the Supreme Court ruling as it had already granted financial autonomy to the 11 councils in the state.

More photos below. 



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