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Banks Hoarding New Naira Notes Risk Stiffer Sanction – CBN

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The Central Bank of Nigeria, CBN, has vowed to impose stiffer sanctions on financial institutions hoarding the new naira notes.

The apex bank issued the threat on Wednesday in reaction to the allegation that enough notes were not released.

Musa Jimoh, Director of the Payment System Management Department, denied the claim at a news conference in Jos, the capital of Plateau.

Jimoh confirmed that the CBN “massively supplied” the new notes to banks to dispense both at counters and Automated Teller Machines, ATMs.

”This is to enable quick circulation. We advice commercial banks to desist from keeping the cash away from the public or face the stiffer sanction,” he said.

Jimoh explained that the decision to redesign the naira conforms with the global practice as currency notes ought to be redesigned every five years.

The director advised citizens to deposit their old notes and collect new ones, stressing that the ultimatum remains sacrosanct.

At the Monetary Policy Committee meeting in Abuja on Tuesday, CBN Governor Godwin Emefiele stated that the January 31 deadline would not be extended.

 

 

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Court Sets Feb 25 For El-Rufai’s Arraignment In DSS Cybercrime Case

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The Department of State Services (DSS) will arraign former Governnor of Kaduna state, Nasir El-Rufai, on February 25 over alleged cybercrime and breach of national security.

Justice Joyce Abdulmalik of the Federal High Court has fixed the date for the arraignment of the former Governor on a three-count criminal charge filed by the Department of State Services (DSS) after the Chief Judge, Justice John Tsoho assigned the case to her.

NAN earlier reported that the DSS, on Monday, filed a three-count criminal charge against El-Rufai following his alleged involvement in wiretapping the telephone lines of the National Security Adviser (NSA), Mallam Nuhu Ribadu.

The charge, instituted by the Nigerian secret police, is marked FHC/ABJ/CR/99/2026.

The service accused El-Rufai of breaching the Cybercrimes Prohibition Act (2024) and the Nigerian Communications Act (2003.)

In court, El-Rufai was alleged to have, on Feb. 13, while appearing as a guest on Arise TV station’s Prime Time Programme in Abuja, admitted during the interview that he and his cohorts unlawfully intercepted the phone communications of the NSA, Mr Ribadu.

The offence is said to be contrary to and punishable under Section 12(1) of the Cybercrimes (Prohibition, Prevention, etc.) Amendment Act, 2024.

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Maureen Badejo To Appear Before Federal High Court Tomorrow On Defamation, Cybercrime Charges

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Maureen Omorinola Badejo is scheduled to appear before the Federal High Court sitting in Ikoyi, Lagos, on February 20, 2026, following charges filed by the Inspector-General of Police over allegations bordering on defamation, cyberstalking, and related offences.

 

 

The charges arise from online publications made in November 2021, in which Ms. Badejo allegedly transmitted statements and videos on YouTube and Facebook concerning Apostle Johnson Suleman and his associate Dickson Omodiale Osajie.

 

 

According to the charge sheet, the prosecution alleges that:

 

Ms. Badejo conspired with others to publish defamatory content against Apostle Suleman.

 

She allegedly portrayed him as a cultist, rapist, assassin, ritualist, and other criminal labels, knowing the claims to be false.

 

She is accused of sending false messages via computer networks intended to cause annoyance, hatred, intimidation, and injury to reputation.

 

Additional allegations state that defamatory statements were also made against Mr. Dickson Osajie, claiming involvement in crimes such as rape and ritual killing.

 

Authorities further allege that the publications caused fear for safety and threatened bodily harm to the complainants.

The offences cited fall under provisions of the Criminal Code Act (Cap C38, Laws of the Federation of Nigeria, 2004) and the Cybercrimes (Prohibition, Prevention, etc.) Act, 2015.

 

The case follows a formal petition submitted to the Nigeria Police Force by Mr. Osajie, who alleged persistent cyberstalking, harassment, invasion of privacy, threats to life, and dissemination of false information affecting himself, Apostle Suleman, and their families.

Statement from Maureen Badejo

Ms. Badejo maintains her readiness to face the court and present her defense, expressing confidence in the Nigerian judicial system to ensure fairness and justice.

 

 

“I will appear in court as required and trust that the truth will prevail through due legal process,” she stated.

 

 

However Ms. Badejo is expected to be formally arraigned before the Federal High Court in Ikoyi, where the charges will be read and she will enter her plea.

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Rivers Assembly Suspends Impeachment Move Against Fubara After Tinubu’s Intervention

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The Rivers State House of Assembly has officially suspended impeachment proceedings against Governor Siminalayi Fubara and his deputy, Ngozi Odu, following President Bola Tinubu’s intervention.

The House moved the motion to halt the impeachment process on Thursday at its resumed sitting in Port Harcourt, the state capital.

JomogNews had reported that during its first sitting of 2026, the House had begun impeachment proceedings against the governor and his deputy over allegations of gross misconduct, including the demolition of the State Assembly complex and alleged spending without legislative approval, among other claims.

More details later….

 

 

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