Economy
Buhari shuts Zanaib Ahmed, Finance Minister, up on naira redesigning policy

”People with illicit money buried under the soil will have a challenge with this but workers, businesses with legitimate incomes will face no difficulties at all.”
The president’s support for the policy has however vindicated the stance of the CBN Governor who had insisted that he needs not to consult the Finance minister, having sought and obtained the approval of the President on the matter.
Mr Emefiele had on Saturday insisted the CBN will carry on with the redesign of some denominations of the Naira notes, saying it followed due process in its decision.
The apex bank made this known via its verified Twitter account, saying that the exercise was 12 years overdue.
The CBN urged Nigerians to support the measure, stressing that it was in the country’s overall interest.
The CBN said the measure was in line with provisions of sections 2 and 19 of the CBN Act.
“The management of the CBN had duly sought and obtained the approval of President Muhammadu Buhari in writing to redesign, produce, release and circulate new series of N200, N500 and N1,000 banknotes.
“The CBN urges Nigerians to support the currency redesign project, which is in the overall interest of every citizen of the country.
“The hoarding of significant sums of banknotes outside the vaults of commercial banks should be discouraged by anyone who means well for the country,” it said.
According to the CBN, it had tarried for too long considering it had to wait 20 years to redesign.
“The standard practice globally was for central banks to redesign, produce and circulate new local legal tender every five to eight years,” Emefiele claimed.
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Economy
Dangote splashes N720bn on 4000 CNG- powered trucks, lifts 42m MSMEs

Economy
NNPCL raises alarm over syndicated attacks to distract leadership from ongoing reforms

Funso OLOJO
The Nigerian National Petroleum Company Limited (NNPCL) has raised the alarm over what it described as a coordinated sabotage campaign on its management.
In a statement by the management of the Corporation, the attack was being sponsored by whom it described as ‘known and faceless actors’ to distract its management from its reform agenda that is meant to rid the corporation of the endemic corruption that has eaten deep into the operations of the national oil company.
” The management of NNPCL has uncovered an emerging coordinated sabotage campaign being waged by a syndicate of known and faceless actors, both outside and within various levels of the organisation.
“This group is actively spreading lies and misinformation simply to discredit NNPC Ltd.’s leadership and derail the organisation’s ongoing transformation into a corruption-free, performance-driven energy company, in line with the mandate of His Excellency, the President of the Federal Republic of Nigeria.
“Their tactics include planting scandalous and fabricated reports, curated to distract leadership, mislead the public, and undermine the commitment of our dedicated workforce and reform-minded Nigerians.
“These are calculated efforts by those who feel threatened by reform, transparency, accountability, and change—clear evidence of the lengths to which they will go to obstruct the transformation of Nigeria’s foremost energy institution.
“We expect a surge of defamatory content in the days and weeks ahead.
” NNPC Ltd. remains undeterred. The transformation is underway, and no amount of sabotage will stop it.
“We urge our dedicated staff, stakeholders, and all patriotic Nigerians to stay focused, ignore the noise and not be discouraged. We remain on mission.
It could be recalled that after the removal of Mele Kyari as the Group Managing Director of the NNPCL, the new management uncovered an homonguous scale of misappropriation of public funds running into billions of dollars which led to the sack of some of the senior staff, including the Managing Directors of the State- owned Refineries.
The investigation launched into the financial recklessness of the past administration of the NNPCL involved the sum of $2.96billion.
In May,2025, the Economic and Financial Crimes Commission(EFCC) detained Mr Kyari over the investigation.
The anti- graft agency also uncovered a staggering N80 billion in multiple bank accounts belonging to one of the sacked Managing Directors of the Nigerian National Petroleum Corporation Limited (NNPCL) refineries.
The discovery was part of an ongoing investigation into the alleged misappropriation of $2.96 billion for refinery rehabilitation.
It could also be recalled that the anti-graft agency arrested former managing directors and senior officials of the three major state-owned refineries, including Port Harcourt Refining Company (PHRC), Warri Refining and Petrochemical Company (WRPC), and Kaduna Refining and Petrochemical Company (KRPC).
Also recall the new NNPCL management had also fired the Managing Directors of the three refineries under its purview
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