The Confederation of African Football, CAF, has published the list of nominees for the 2024 awards.

The event will be held December 16, 2024, in Marrakech, Morocco.

In a statement from CAF, the period under review is January 2024 and October 2024.

There are 10 players nominated in each category.

South Africa goalkeeper, Ronwen Williams is nominated in all three categories: Player of the Year, CAF Goalkeeper of the Year and CAF Interclub Player of the Year.

The winners will be determined through votes from a diverse panel, which includes the CAF Technical Committee, media professionals, and the Head Coaches and Captains of Member Associations, as well as clubs participating in the group stages of interclub competitions.

The list of nominees for the women’s categories will be announced shortly.

Full List of Nominees:

PLAYER OF THE YEAR (MEN)

Amine Gouiri (Algeria / Rennes)

Edmond Tapsoba (Burkina Faso / Bayer Leverkusen)

Simon Adingra (Cote d’Ivoire / Brighton & Hove Albion)

Chancel Mbemba (DR Congo / Olympique Marseille)

Serhou Guirassy (Guinea / Borussia Dortmund)

Achraf Hakimi (Morocco / Paris Saint-Germain)

Soufiane Rahimi (Morocco / Al Ain)

Ademola Lookman (Nigeria / Atalanta)

William Troost Ekong (Nigeria / Al Kholood)

Ronwen Williams (South Africa / Mamelodi Sundowns)

GOALKEEPER OF THE YEAR (MEN)

Oussama Benbot (Algeria / USM Alger)

Andre Onana (Cameroon / Manchester United)

Yahia Fofana (Cote d’Ivoire / Angers SCO)

Lionel Mpasi (DR Congo / Rodez AF)

Mostafa Shobeir (Egypt / Al Ahly)

Djigui Diarra (Mali / Young Africans)

Munir El Kajoui (Morocco / RS Berkane)

Stanley Nwabali (Nigeria / Chippa United)

Ronwen Williams (South Africa / Mamelodi Sundowns)

Amanallah Memmiche (Tunisia / Esperance Sportive de Tunis)

INTERCLUB PLAYER OF THE YEAR (MEN)

Oussama Benbot (Algeria / USM Alger)

Issoufou Dayo (Burkina Faso / RS Berkane)

Ahmed Sayed ‘Zizo’ (Egypt / Zamalek)

Hussein El Shahat (Egypt / Al Ahly)

Mostafa Shobeir (Egypt / Al Ahly)

Abdul Aziz Issah (Ghana / Dreams FC)

John Antwi (Ghana / Dreams FC)

Amanallah Memmiche (Tunisia / Esperance Sportive de Tunis)

Yassine Merriah (Tunisia / Esperance Sportive de Tunis)

Ronwen Williams (South Africa / Mamelodi Sundowns)

COACH OF THE YEAR (MEN)

Pedro Goncalves (Angola)

Brahima Traore (Burkina Faso)

Emerse Fae (Cote d’Ivoire)

Sebastien Desabre (DR Congo)

Jose Gomes (Zamalek)

Marcel Koller (Al Ahly)

Chiquinho Conde (Mozambique)

Hugo Broos (South Africa)

Florent Ibenge (Al Hilal)

Kwesi Appiah (Sudan)

YOUNG PLAYER OF THE YEAR (MEN)

Carlos Baleba (Cameroon / Brighton & Hove Albion)

Karim Konate (Cote d’Ivoire / Salzburg)

Oumar Diakite (Cote d’Ivoire / Reims)

Yankuba Minteh (Gambia / Brighton & Hove Albion)

Abdul Aziz Issah (Ghana / Dreams FC / Barcelona)

Bilal El Khannouss (Morocco / Leicester City)

Eliesse Ben Seghir (Morocco / AS Monaco)

El Hadji Malick Diouf (Senegal / Slavia Prague)

Lamine Camara (Senegal / AS Monaco)

Amanallah Memmiche (Tunisia / Esperance Sportive de Tunis)

CLUB OF THE YEAR (MEN)

Petro Atletico (Angola)

TP Mazembe (DR Congo)

Al Ahly (Egypt)

Zamalek (Egypt)

Dreams FC (Ghana)

RS Berkane (Morocco)

Mamelodi Sundowns (South Africa)

Simba (Tanzania)

Young Africans (Tanzania)

Esperance Sportive de Tunis (Tunisia)

NATIONAL TEAM OF THE YEAR (MEN)

Angola

Burkina Faso

Cote d’Ivoire

DR Congo

Morocco

Mozambique

Nigeria

South Africa

Sudan

Uganda.

Abia South Senator, Enyinnaya Abaribe, has accused President Bola Tinubu of showing the Southeast “renewed shege.”

Abaribe faulted the cabinet reshuffling, which saw the appointment of Bianca Ojukwu as the Minister of State for Foreign Affairs.

Tinubu had removed five ministers while appointing seven and reassigning 10 to new portfolios.

The president relieved Uju-Ken Ohanenye, the Minister of Women Affairs, from her duties.

Reacting, Abaribe said relieving a Southeast Minister and replacing with another “doesn’t feel like progress.”

Speaking with Arise TV, Abaribe said, “For my constituents, nothing has changed. They don’t refer to it as ‘Renewed Hope’ but rather as ‘Renewed Shege (Suffering).’

“The South East, in particular, is questioning the supposed changes. Removing one South East minister only to replace them doesn’t feel like progress.”

The lawmaker accused Tinubu of breaching the constitution, stressing that the reshuffled cabinet did not reflect Federal character.

Abaribe added: “The president has breached it for the last 18 months. We thought that with these changes, maybe there will be some adjustments that will also put some balm on what is going on in the minds of people from the South East.

“I want to tell everyone that the Igbos want fairness and equity, which are in the constitution. Treat us as you are treating everybody else.”

He further lamented that, despite the South East’s calls for equity and fairness, Tinubu’s actions continue to overlook the region.

Gov Abbir Yusuf of Kano State has appointed Super Eagles captain, Ahmed Musa as the state's ambassador of sports.

The governor stated that his decision to appoint Musa as the sports ambassador was because of his professional competence, track record of excellent performance, vast experience, dedication to the development of sporting activities and provision of humanitarian services in the State.

The appointment was confirmed via a statement by the Secretary to the State Government, Abdullahi Baffa Bichi PhD on Wednesday titled “NOTIFICATION OF APPOINTMENT AS KANO STATE SPORT AMBASSADOR”.

The statement reads in full: “It is my singular honour to formally convey to you that His Excellency, Governor Abba K. Yusuf of Kano State has approved your appointment as Kano State Sports Ambassador with effect from 24th July, 2024.

The decision to appoint you into this exalted position of trust and confidence was predicated upon your professional competence, track record of excellent performance, vast experience, dedication to the development of sporting activities and provision of humanitarian services in the State. It is hoped that you will bring these sterling qualities to bear on your new assignment.

It is my ardent prayer that your appointment as Kano State Sports Ambassador will assist the Government significantly in attaining the objective of promoting the overall sporting activities especially as it relates to our home based clubs and players.

While congratulating you over this well-deserved appointment, it is my sincere hope that you will live above board and justify the confidence reposed in you by the Government. I pray that God in His infinite mercy accord you the wisdom and determination to execute the assignment diligently and to the expectation of the administration. Accept my sincere congratulations on this well-deserved appointment and prayers of good will.

Best wishes.”

The Nigeria Customs Service (NCS) has confiscated a total of 33,595 liters of petrol, stored in jerry cans and drums, intended for smuggling into the neighboring Republic of Cameroon.

The Adamawa/Taraba Area Command headquarters of the NCS made the disclosure in Yola on Thursday, saying the seizures were effected between August and September 2024.

Addressing newsmen at his office, the Adamawa/Taraba NCS Area Comptroller, Garba Bashir placed the monetary value of the seized petrol at over N71 million.

He gave breakdown of the seized commodity as 1,115 jerry cans of 25 litres each and 26 drums holding 220 litres each.

Bashir listed other confiscated items as three vehicles which were means of conveyance of the seized petrol, 200 50kg bags of foreign flour, 57 50kg bags of parboiled rice, and 10 bales of second hand clothes.

According to Bashir, the confiscated containers of petrol, which were impounded from various borderlines in Adamawa and Taraba states, would be auctioned to members of the general public.

President Bola Tinubu yesterday restricted ministers, ministers of state, and heads of agencies of the Federal Government to a maximum of three vehicles in their official convoys, saying no additional vehicles would be assigned to them for movement.

This came as the Presidency explained late Wednesday night that Nigerians’ perception played a key role in the President’s decision to rejig his cabinet.

The President’s new directive was contained in his Special Adviser on Information and Strategy statement, Bayo Onanuga.

According to the statement, “the cost-cutting measure was announced today (yesterday) in a statement by the President.”

Recall that in January this year, President Tinubu took steps to reduce government expenditures by reducing his entourage on foreign trips from 50 to 20 officials and on local trips to 25 officials.

Similarly, he reduced the Vice President’s entourage to five officials on foreign trips and 15 for local trips.

In the directive issued yesterday, President Tinubu also ordered all ministers, ministers of state, and heads of agencies to have at most five security personnel attached to them.

The security team, according to him, will comprise four police officers and one Department of State Services, DSS, officer.

He said: “No additional security personnel will be assigned.”

The President also instructed the National Security Adviser, NSA, to engage with the military, paramilitary and security agencies to determine a suitable reduction in their vehicle and security personnel deployment.

“All affected officials are expected to comply with these new measures immediately, underscoring the urgency and seriousness of these changes,” the statement added.

Also, following the removal, appointment and redeployment of some members of the Federal Executive Council, NEC, on Wednesday, the Presidency has said the President’s decision was influenced by Nigerians’ perceptions.

This is even as indications emerged yesterday the reason the President retained some key cabinet members, despite multiple media speculations of their rumoured removal.

The President also yesterday wrote the Senate, seeking the screening and subsequent confirmation of appointments of seven ministerial nominees announced in Abuja on Wednesday.

On Wednesday, Tinubu reassigned 10 ministers to new portfolios, relieved five of their duties, and nominated seven new nominees for Senate confirmation.

The President also renamed the Ministry of Niger Delta Development as the Ministry of Regional Development, scrapped the Ministry of Sports Development, and merged the Ministries of Tourism and Arts and Culture, forming the Federal Ministry of Art, Culture, Tourism, and the Creative Economy.

Those dismissed include the Minister of Women Affairs, Uju Kennedy-Ohanenye; Minister of Tourism, Lola Ade-John; Minister of Education, Tahir Mamman; Minister of Youth Development, Dr Jamila Bio Ibrahim; and the Minister of State for Housing and Urban Development, Abdullahi Gwarzo.

How feedback shaped Tinubu’s cabinet reshuffle

Providing more details on the cabinet reshuffle in an interview on Arise TV on Wednesday night, Mr Onanuga, explained that the decision to remove the affected ministers was based on public perception and empirical data.

According to him, the Special Adviser to the President on Policy and Coordination, Hadiza Bala Usman, introduced a technological system that allowed Nigerians to assess the performance of the ministers.
He said: “It wasn’t done arbitrarily. Hadiza Bala Usman brought in technology, asking Nigerians to rate the ministers. So, the removal of these ministers was based on empirical facts, shaped by public perception.

“The scorecards were filled out by the people, and the President acted on those results.

“It wasn’t just about meeting the President’s expectations but also the public. A few weeks ago, during a cabinet meeting, the President urged the ministers to inform Nigerians of their accomplishments because, according to him, there is public perception that the government wasn’t performing.

“The government believed it was, but the ministers weren’t effect-ively communicating their work.’’
Onanuga further mentioned that in addition to dismissing the ministers, the administration was working to reduce the cost of governance.

FG’s expenditure will be reduced soon

“The President will soon announce measures to reduce government expenditure, starting with the ministers. I don’t want to pre-empt the details, but the cuts will be significant to demonstrate the government’s seriousness in reducing the cost of governance.

“The government is aware of what’s required to address the country’s challenges. It’s not about the size of the government, but about having many competent hands to drive its agenda.

“You will hear announcements soon about how the government plans to cut the cost of running its affairs,” the Presidential aide said.

Why Matawalle wasn’t sacked

He also clarified that allegations linking the Minister of State (Defence), Alhaji Bello Matawalle, to the spate of banditry in the North-West were untrue.

Onanuga said Matawalle, a former governor of Zamfara State, was not sacked because the office of the National Security Adviser, NSA, investigated allegations bordering on his ties to bandits and found them spurious.

He said the allegations against Matawalle were “mere fabrication” and politically motivated.

“As far as I know, most of those things are just mere allegations. In one of them, I got something like that and sent it to the NSA and asked: ‘Have you heard about this?” The president’s aide said.

Continuing, Onanuga said: ‘’The NSA said ‘No. We have probed a lot of those things; they are not true. People are just bringing out all kinds of fake things and allegations. That is why the man (Matawalle) is still in the cabinet.

“The president, I’m sure, has heard many stories about him. For him to be there shows that… like I have said, some of those things have been probed; they are not true.
“The NSA office has already investigated some of those allegations. They are mere fabrications.”

Why Tinubu retained Gbaja, Edun, Olubunmi-Ojo, others

Meanwhile, contrary to widespread media speculations a few weeks ago about the President removing 11 ministers and reshuffling the presidency’s top leadership, it was gathered that the changes began with the replacement of Tinubu’s Chief Security Officer, Adegboyega Fasasi.

Multiple sources told Vanguard that the reorganization, highly anticipated before Tinubu’s two-week holiday, retained several key officials previously rumoured for removal, including his Chief of Staff, Mr Femi Gbajabiamila; Minister of Budget and Planning Atiku Bagudu; Minister of Interior, Olubunmi Ojo; Minister of Defence, Badaru Abubakar; Minister of State, Defence, Bello Matawalle, and other ministers whose continued presence “reflects the President’s confidence in them.”

Also, key economic team members, including Finance Minister Wale Edun; Budget and Planning Minister, Atiku Bagudu; and Power Minister Adebayo Adelabu; retained their positions, following their scorecards.
Another source disclosed that the retention of Mr Gbajabiamila as Chief of Staff came, despite “intense speculation about his replacement.”

The source said: “Gbajabiamila has weathered recurring media attacks and once received public support from the President himself at a cabinet meeting where he reaffirmed his confidence in his Chief of Staff.

“His survival of numerous media trials is likely due to the sensitivity of his office and his experience as former speaker of the House of Representatives. The same speculation goes for Wale Edun, Bagudu and Adelabu.’’

Another Presidency source said: “The earlier speculation about Wale Edun’s replacement with the Tax Reform Committee Chairman, Taiwo Oyedele, was particularly unfounded, including the suggestion that the President planned to remove the Interior Minister who has got good appraisals everywhere and the biggest joke was the speculation that the President contemplated removing his Chief of Staff, except for those who do not know the premium the President places on Gbaja, let alone their longstanding ties.”

On why the president decided to retain them, the source said: “It was based on the President’s discretion.”

Asked whether there will be further cabinet reshuffle, another source said: “I don’t know but it appears everything has been done, except for ambassadorial and board positions.”

It was further gathered that a significant highlight of the rejig is the appointment of Mrs Bianca Odumegu-Ojukwu as Minister of State for Foreign Affairs.

“This appointment, seen as a strategic move towards national inclusion, has been widely praised as a gesture of reconciliation and recognition of the South-East in the Federal Government.

“As the widow of the late Biafran leader, Dim Chukwuemeka Odumegu-Ojukwu, her appointment signals the administration’s commitment to national unity and inclusive governance,” multiple sources told Vanguard.

Retaining Keyamo reflects Tinubu’s commitment to aviation growth — AON

Speaking on the President’s decision to retain Mr Festus Keyamo as Minister of Aviation and Aerospace Development, the Airline Operators of Nigeria, AON, yesterday, said it reflected Tinubu’s commitment to the growth and advancement of the aviation industry in Nigeria.

President of AON, Alhaji Abdulmunaf Sarina, in a statement, said Keyamo has demonstrated exceptional leadership, setting a new standard for the aviation sector.

Sarina stated that the minister’s efforts in ensuring compliance with international standards facilitated greater access to aircraft financing and leasing.

The statement read: “Since his initial appointment, Keyamo has demonstrated exceptional leadership, setting a new standard for the aviation sector.

“His relentless efforts and advocacy for policies that ensure ease of doing business have brought about significant positive changes. AON members are proud to affirm that, under his stewardship, we have never had it this good.

“His proactive engagements with the industry, his focus on safety, and his commitment to the success of both local and international airlines have restored confidence in the sector. He has the best interests of the nation and the aviation sector at heart.

“The reappointment of Keyamo stands as a testament to President Tinubu’s vision of excellence and progress for Nigeria. We believe every government is ultimately judged by the calibre of individuals appointed to critical positions.

“In Keyamo, the President has made an outstanding choice, ensuring that Nigeria’s aviation sector remains in capable and visionary hands.

“On behalf of all members of AON, we pledge our continued support for Keyamo as he leads us through this era of unprecedented growth and innovation in the aviation industry.

“We also commend President Tinubu for his remarkable foresight and wisdom in entrusting the future of Nigerian aviation to such an able leader. Together, we are confident that the skies of Nigeria will continue to soar higher, and the country’s aviation sector will remain a beacon of excellence on the African continent.”

Tinubu seeks Senate’s confirmation of 7 ministerial nominees

Meanwhile, President Tinubu has written the Senate, seeking the screening and subsequent confirmation of appointments of seven ministerial nominees.

The President’s request was contained in a letter addressed to the President of the Senate, Senator Godswill Akpabio, and read at plenary yesterday.

According to the letter, the ministerial nominees are Dr Nentawe Yilwatda, Minister of Humanitarian Affairs and Poverty Reduction; Muhammadu Maigari Dingyadi, Minister of Labour and Employment; and Bianca Odinaka Odumegu-Ojukwu, Minister of State, Foreign Affairs.

Others include Dr Jumoke Oduwole, Minister of Industry, Trade and Development; Idi Muktar Maiha, Minister of Livestock Development; Yusuf Ata, Minister of State, Housing; and Dr Suwaiba Said Ahmad, Minister of State, Education.

The President in the letter sought expeditious consideration of his request by the Senate.
The Senate President immediately referred the Presidential request to the committee of the whole for consideration.

Akpabio said: “The presidential request is referred to the Committee of the Whole for consideration very soon.”

It was, however, gathered that the Senate may, after getting the required documents on the nominees, commence their screening next Wednesday.

An 18-year-old man, Kamisu Ibrahim has been arrested by the Jigawa State Police Command for defiling his 3-year-old niece in Malam Madori Local Government Area of the state.
 
The spokesperson of the command, DSP Lawan Shiisu Adam, disclosed this in a statement on Thursday, October 24, 2024.
 
“On 15/10/2024 at about 1015hrs, one Suleiman Bashari 'm' age 30yrs of Garin Malam Sanda village M/Madori LGA, reported at M/Madori Division that, on 14/10/2024 at about 2010hrs, one Kamisu Ibrahim 'm' age 18yrs of same address, had carnal knowledge of his niece one Husna Isyaku ' f' age 3yrs of the same address,” the statement read.
 
"On receipt of the report, detectives attached to M/Madori Division swiftly swung into action and the victim was taken to S3xual and Assault Referrals Center Dutse for medical examination.
 
"Suspect was also arrested. On interrogation, the suspect confessed to the commission of the offence.”

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has confirmed that the federal government would impose 15 percent Value Added Tax (VAT) on luxury goods, adding that total subsidy removal became effective last month.

Fielding investors’ questions at a meeting on the sidelines of the on-going IMF/World bank Annual Meetings in Washington DC, he said that a bill before the National Assembly would bring about a situation where rich Nigerians would pay VAT rate that would increase over time to 15 percent.

He clarified, however, that the poor and vulnerable will pay less or zero VAT on essential goods.

According to him, the list of such essential goods that would attract zero VAT would be made available to the public in due course.

His words: “In terms of VAT, the commitment of President Bola Tinubu is that while implementing difficult and wide-ranging but necessary reforms, the poorest and most vulnerable will be protected.

“And in the case of VAT, it is a very efficient tax for reasons well-known but it is also a tax that is targeted. So the bills going through the National Assembly in terms of VAT will raise VAT for the wealthy on luxury goods while at the same time seeking to exempt or seek a zero rate for the essentials and for what the poor and the average persons will purchase.

“Those bills will single items for zero rate of VAT while hitting luxuries with a higher rate of VAT.”

Edun was optimistic that the oil sector was set to increase the accretion of foreign exchange (FX) into the market, as according to him, oil production was being ramped up with better security in the oil-producing areas and new investments, especially those announced by Total and ExxonMobil.

He also said that total removal of fuel subsidy became effective in September 2024.

“Savings from fuel subsidy savings would become more impactful on the economy going forward, the complete fuel subsidy became effective only last month,” he stated.

Staff members of Nigeria’s Federal Ministry of Education have shed light on issues that led to President Bola Tinubu’s decision to dismiss Prof. Tahir Mamman from his role as Minister of Education.

Prof. Mamman, along with four other ministers, was removed from office on Wednesday.

The other dismissed officials include Barr. Uju-Ken Ohanenye (Minister of Women Affairs), Lola Ade-John (Minister of Tourism), Abdullahi Muhammad Gwarzo (Minister of State for Housing and Urban Development), and Dr. Jamila Bio Ibrahim (Minister of Youth Development).

Speaking with SaharaReporters, a ministry insider suggested that Mamman’s removal was partly due to his alleged refusal to settle longstanding salary arrears owed to certain ministry employees.

“About a month or two ago, it was widely reported that he was among the least performing ministers. Many years of arrears remain unpaid despite numerous promises,” the source disclosed, noting that frustrated employees had staged protests over unpaid wages.

Another factor reportedly contributing to his dismissal involves Mamman’s alleged attempt to install Prof. Aisha Maikudi, the Acting Vice Chancellor of the University of Abuja, as the university’s permanent Vice Chancellor.

The insider explained, “The appointment of an unqualified Vice Chancellor might also have contributed to his removal. If news of the improper process reaches the public, it will expose deep-rooted issues in the ministry.”

SaharaReporters previously reported that the University of Abuja’s Governing Council had allegedly sought to make Prof. Maikudi the permanent Vice Chancellor, despite her reportedly not meeting all qualifications.

Sources indicated that the council had relaxed criteria to facilitate her selection, raising questions over transparency.

Further revelations suggest that former Vice Chancellor Abdul-Rasheed Na’Allah may be behind the push for Maikudi’s appointment, reportedly to repay a longstanding debt of gratitude to her father, who had previously supported Na’Allah’s controversial appointment as VC five years ago.

Investigation found that the university’s advertisement for the position omitted the typical post-professorial experience requirement, making Prof. Maikudi, who attained her professorship in 2022, eligible for consideration.

Nigeria’s total public debt stock surged by N12.6tn in three months to N134.3tn ($91.3bn) by the end of the second quarter of 2024, The PUNCH reports.

This is a 10.35 per cent increase from the N121.7tn ($91.5bn) recorded in the first quarter of this year.

The rise has been attributed primarily to the devaluation of the naira, according to an official document seen by The PUNCH, which was presented at a session on the sidelines of the World Bank/IMF annual meetings in Washington DC as Nigeria hosted foreign investors.

The document stated, “In Q2 2024, the debt stock grew in naira terms to N134.3tn ($91.3bn) from N121.7tn ($91.5bn) in Q1 2024, driven mainly by exchange rate devaluation. The dollar amount of debt was roughly the same.”

Although it looked like Nigeria’s debt is reducing in dollar terms, The PUNCH observed that there was an increase of N5.55tn or 8.45 per cent in domestic debt, from N65.65tn in Q1 2024 to N71.2tn by Q2 2024.

Also, there was an increase of $780m in external debt from $42.12 bn in the first quarter of this year to $42.9bn by June 2024.

The document seen by The PUNCH showed that domestic debt continued to dominate Nigeria’s public debt portfolio in Q2 2024, accounting for 53 per cent of the total debt stock at N71.2tn ($48.4bn).

External debt made up 47 per cent, amounting to N63.1tn ($42.9bn).

The document also showed that Nigeria’s debt-to-GDP ratio has exceeded 50 per cent.

It also showed that FGN Bonds represented 78 per cent of the domestic debt, affirming the government’s reliance on local bond markets for financing.

Other domestic instruments include Nigerian Treasury Bills, Savings Bonds, Sukuk, Promissory Notes, and Green Bonds, indicating a diverse borrowing strategy.

On the external front, multilateral loans accounted for 50.4 per cent of the total external debt, reflecting Nigeria’s preference for financing from international bodies such as the World Bank and the African Development Bank.

Bilateral loans made up 13.7 per cent, while commercial loans represented 35.9 per cent of external debt.

Speaking earlier during the meeting with investors on Wednesday, Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, announced that the country’s $500m domestic bond was oversubscribed, raising over $900m from investors.

This achievement comes despite prior advice from the International Monetary Fund against issuing the bond.

The Federal Government launched the dollar-denominated domestic bond on August 15, with subscriptions opening on August 20 at $1,000 per unit.

He said, “The IMF said to us that we shouldn’t do domestic issues of dollar bonds. We did it and we were 100 per cent oversubscribed, but we still value their viewpoint and took it into account.”

Edun acknowledged the important role played by the IMF in providing concessional loans, funding, and technical support to countries, noting that these institutions help shape domestic policies and strengthen economic frameworks.

However, he stressed that nations are not bound to follow every recommendation.

“These institutions can provide value, but we don’t always have to take their advice,” he reiterated.

The minister also highlighted the significance of the IMF’s broader contributions, such as stabilising the international financial system during critical periods.

The Central Bank of Nigeria (CBN) has officially refuted rumours suggesting that old Naira notes will cease to be legal tender by December 31, 2024.

In a decisive statement issued by the Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, the CBN declared these claims baseless and misleading, designed to disrupt the nation’s payment systems.

Amidst circulating rumours about the discontinuation of old denominations of ₦200, ₦500, and ₦1,000 banknotes, the CBN has clarified that there is no deadline set for phasing out these notes.

The announcement comes as a relief to many who had been concerned about the potential invalidity of their cash holdings.

“The order of the Supreme Court on November 29, 2023, which extends the use of old banknotes indefinitely, remains in force,” the CBN’s statement emphasized.

This directive ensures that both old and redesigned versions of the Naira will continue to coexist as legal tender across Nigeria.

Mrs. Ali also instructed all CBN branches to keep issuing and accepting both the old and the newly designed Naira notes, reassuring the public of the banknotes’ validity.

She encouraged Nigerians to dismiss any rumours about deadlines for old notes and to remain informed through official CBN communications.

CBN’s stand comes after the House of Representatives asked the apex bank to withdrawold currency notes and increase the issuance of new naira notes.

Read the statement below: