BILLION

Recently, a rumor has been circulating across social media platforms claiming that the Central Bank of Nigeria (CBN) has introduced a new ₦5000 note featuring President Bola Ahmed Tinubu. The claim gained traction, sparking excitement and confusion among Nigerians eager to know if their wallets might soon contain the highest denomination in the country. However, the CBN quickly put the speculation to rest. Using its official X (formerly Twitter) handle, the bank clarified that no such currency has been issued. The statement explicitly debunked the claim, emphasizing that the circulating currency remains unchanged and that the ₦5000 note does not exist. The CBN’s reminder serves as an important lesson on verifying information before sharing it online. Social media rumors about new currency notes are common in Nigeria and can lead to unnecessary panic or misguided financial decisions. For now, Nigerians can continue to transact using existing denominations, and an...

The Independent National Electoral Commission has underscored the critical role of broadcast media in safeguarding electoral integrity, urging broadcasters to uphold fairness, professionalism, and accuracy ahead of the 2027 general elections. Addressing the 81st General Assembly of the Broadcasting Organisations of Nigeria on Wednesday in Abuja, the INEC chairman, Prof. Joash Amupitan, stressed that the management of the airwaves under the Electoral Act 2026 would be decisive in shaping public trust and democratic outcomes. Amupitan noted that the growing influence of broadcast platforms has made it central to political communication. He warned, saying, “Your airwaves have become the primary infrastructure of our democracy. If they are clear, the nation sees the truth; if they are clouded by misinformation, the sovereign will of the people is threatened.” Amupitan highlighted key provisions of the Electoral Act 2026, particularly those mandating equal access to media platfo...

Senate President Godswill Akpabio has inaugurated the new Open-Mende-Ojota Link Bridge Project and the Multi-agency complex, Alausa, now known as Bola Ahmed Administrative Complex in Lagos State. Akbabio represented President Bola Tinubu, who has been in Lagos for the past few days and is scheduled to embark on a two-day working visit to inaugurate about six key projects executed by Governor Babajide Sanwo-Olu. In a video shared on X by Sanwo-Olu’s aide, Jubril Gawat, on Wednesday, the Senate President unveiled the project alongside Imo State Governor, Hope Uzodimma; the senator representing Lagos East District, Tokunbo Abiru; Sanwo-Olu, and some other dignitaries. While cutting the ribbon, he said, “On behalf of President Bola Ahmed Tinubu, I commission these projects.” Recall that the Special Adviser to Sanwo-Olu on Media and Publicity, Gboyega Akosile, in a post on X recently had said that the President would commission “iconic, transformative and legacy projects” delive...

The United States and Iran agreed to a two-week ceasefire on Tuesday in an 11th-hour bid to avert all-out destruction threatened by US President Donald Trump. Here’s what we know about the truce between two countries, which are set to begin negotiations but remain poles apart in their positions on ending the war: – What has the US said about the truce? – Trump told AFP the ceasefire deal was a “total and complete victory” for Washington. The US will suspend attacks on Iran for two weeks, and Tehran will in turn temporarily reopen the Strait of Hormuz, a vital global oil thoroughfare, according to Washington. Tehran agreed to the “COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz,” Trump said in a Truth Social post. The US president said the agreement was reached after he spoke to leaders in Pakistan, which has played a key role in mediating the war launched by the US and Israel on February 28. Trump also told AFP that Iran’s enriched uranium would be “perfectly ...

The Ogun State Chairman of the African Democratic Congress, Femi Soluade, has reaffirmed the legitimacy of the ongoing screening and congress processes in the state, declaring that all party activities are proceeding in line with directives from its recognised national leadership. Speaking on Tuesday at the party’s state secretariat in Abeokuta, the state capital, during a press conference held alongside the congress exercise, Soluade said the National Screening Committee, duly constituted by the party’s national leadership, was currently in the state to screen aspirants ahead of the scheduled congresses. “The National Screening Committee, duly constituted by the national leadership of our party, is presently in Ogun State to conduct the screening of aspirants ahead of the scheduled congresses. The presence of the committee underscores the legitimacy and proper coordination of the congress process”, Soluade said. He stated that the screening of aspirants was ongoing as plan...

Amid rising geopolitical tensions in the Middle East and their ripple effects on global energy markets, the Dangote Petroleum Refinery has increased the gantry price of petrol and diesel, further tightening pressure on consumers and businesses across Nigeria. A top official at the refinery, who confirmed the development to our correspondent on Tuesday night, said the facility adjusted its pricing in response to prevailing international crude oil benchmarks and market realities. The new pricing template shows that petrol rose by N75 per litre to N1,275, representing an increase of about 5.02 per cent, while diesel jumped by N200 per litre to N1,950. This marks a sharp increase from last month’s prices of N1,200 per litre for petrol and N1,750 for diesel, signalling that diesel is now on track to breach the N2,000 per litre mark at the pump, further intensifying cost pressures across the economy. “The adjustment is in line with global market trends. You are aware of the ongoi...

The Lagos State Government has announced temporary road closures across major corridors in the state ahead of the inauguration of critical infrastructure projects scheduled for April 8 and 9, 2026, urging motorists to plan alternative routes to avoid traffic disruptions. In a travel advisory issued by the Lagos State Ministry of Transportation and obtained by The PUNCH, the government said the restrictions are necessary to ensure safety and smooth movement during the commissioning activities. The Commissioner for Transportation, Oluwaseun Osiyemi, said the partial closures would affect key locations in Ikeja, Ojota, Ajegunle and Victoria Island, as the state prepares to inaugurate major projects. “The Lagos State Government wishes to inform the motoring public of partial road closures for the commissioning events of critical infrastructure projects on Wednesday, 8th April, 2026, and Thursday, 9th April, 2026,” the statement read. It added that the temporary traffic restrict...

Nigeria is positioning itself to benefit from rising global oil prices while managing the associated economic risks, according to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun. Speaking in Abuja at a World Bank presentation on Nigeria’s Development Update, Edun said the Federal Government intends to maximise revenue gains from higher crude oil prices amid ongoing global tensions, particularly the Middle East crisis. He noted that Nigeria, as an oil-producing nation, stands to both gain and lose from rising prices. While increased oil prices boost government revenue, they also raise costs across the economy, especially in energy and food production. Edun explained that higher gas prices are already contributing to inflation by increasing fertiliser costs, which in turn drives up food prices and places additional strain on households. He warned that inflation remains a major concern, especially as global uncertainties persist. He also highlighted...

Donald Trump has agreed to suspend the “destructive force” he previously threatened against Iran, announcing a two-week ceasefire aimed at reopening the Strait of Hormuz, a critical global oil route. In a post on Truth Social, Trump described the agreement as a “big day for World Peace,” adding that the United States would assist in easing traffic through the strait, which has remained largely closed during the ongoing conflict. The ceasefire was announced shortly before Trump’s deadline for Iran, with the waterway, through which about a fifth of the world’s oil supply passes, having been effectively blocked over the past month. Trump said Iran had proposed a “workable” 10-point peace plan to help end the war, although he later described the same plan as fraudulent without providing further details. He stated that the decision to suspend military action followed discussions with Shehbaz Sharif and Asim Munir, who urged restraint, contingent on Iran agreeing to the immediate...

Some state chairmen of the African Democratic Congress on Tuesday claimed they had taken control of the party following the removal of the David Mark leadership by the Independent National Electoral Commission. The chairmen, claimed to be representing 25 states and backed by the ADC 2023 Presidential candidate, Dumebi Kachikwu, stated that they constituted the National Executive Committee of the ADC and had taken over the party leadership. The group unveiled the Kogi State Chairman, Kingsley Ogga, as the new chairman, in a move that signals a significant shift amid the party’s ongoing internal crisis. Addressing a press conference in Abuja, the Abia State Chairman, Don Obinna, explained that the NEC endorsed Mark’s removal as the party chairman. However, the David Mark-led leadership of the party has dismissed the group, alleging that they are being sponsored by elements of the ruling All Progressives Congress. Publicity Secretary of the ADC, Bolaji Abdullahi, speaking on C...