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CBN counters Finance Minister, insists Naira redesign followed due process
• Director, Corporate Communications Department, CBN, Mr. Osita Nwanisobi
In an apparent response to claims by the Minister of Finance, Budget and National Planning, Zainab Ahmad, that her ministry was not carried along by the Central Bank of Nigeria (CBN), in the ongoing process of redesigning three series of the Naira, the Bank insists it followed the law and due process to carry out the exercise, which is 12 years due.
Speaking with a group of newsmen in Abuja, on Friday night, the spokesman of the CBN, Mr. Osita Nwanisobi, expressed surprise at the minister’s claim, stressing that the CBN remains a very thorough institution that follows due process in its policy actions.
According to Nwanisobi, the Management of the CBN, in line with provisions of section 2(b), section 18(a), and section 19(a)(b) of the CBN Act 2007, 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.
However, urging Nigerians to support the currency redesign project, he said it was in the overall interest of Nigerians, reiterating that some persons were hoarding significant sums of banknotes outside the vaults of commercial banks. This trend, he said, should not be encouraged by anyone who means well for the country.
Furthermore, he noted that currency management in the country had faced several escalating challenges which threatened the integrity of the currency, the CBN, and the country, adding that every top-rate Central Bank was committed to safeguarding the integrity of the local legal tender, the efficiency of its supply, as well as its efficacy in the conduct of monetary policy.
On the timing of the redesign project, Nwanisobi explained that the CBN had even tarried for too long considering that it had to wait 20 years to carry out a redesign, whereas the standard practice globally was for central banks to redesign, produce and circulate new local legal tender every five to eight years.
While assuring Nigerians that the currency redesign exercise was purely a central banking exercise and not targeted at any group, the CBN spokesman expressed optimism that the effort will, among other goals, deepen Nigeria’s push to entrench a cashless economy in the face of increased minting of the eNaira. This, he said, is in addition to helping to curb the incidents of terrorism and kidnapping due to access of persons to the large volume of money outside the banking system used as a source of funds for ransom payments.
Nwanisobi therefore urged Nigerians, irrespective of their status, to support the Naira redesign project, as it is for the greater good of the economy.
The presidential candidate of the National Democratic Coalition (NDC), Peter Obi, has congratulated Osun State Governor, Ademola Adeleke, on his re-election, describing the outcome of the governorship poll as a victory for democracy and the people.
The Independent National Electoral Commission (INEC) on Sunday morning declared Adeleke of the Accord Party as the winner of the 2026 Osun State governorship election.
Announcing the final results, INEC Returning Officer, Prof. Joshua Ogunwole, the Vice- Chancellor of the Federal University, Oye-Ekiti declared Adeleke winner and returned him elected.
Ogunwole announced that the Accord Party candidate secured 511,067 while his closest challenger, Bola Oyebamiji of the All Progressives Congress (APC) recorded 444,815 votes.
Adeleke trounced his major opponent with 66,252 votes amid wild jubilation by party supporters and other residents.
Reacting in a statement on his official X account, Obi said the people of Osun had spoken clearly through the ballot, while commending citizens, particularly youths, for defending their democratic mandate.
“I warmly congratulate Governor Ademola Adeleke on his re-election and the good people of Osun State on this important democratic victory,” Obi said.
“They, the people of Osun, have spoken with courage and clarity, reaffirming that the power to choose their leaders belongs to the people.
“Through his commitment to the people, compassion for their needs, and the strength of his work and achievements in office, Governor Ademola Adeleke has earned their renewed confidence and been entrusted once again with their mandate.
“I particularly commend the courageous youths of Osun who rose to the occasion and peacefully defended their democratic mandate.
“Their vigilance and determination demonstrate that when citizens stand firmly to protect their votes, the forces of good can overcome the forces of darkness.
“The lesson from Osun is clear: democracy is strongest when citizens are alert, conscious of their civic responsibility, and determined to ensure that their votes count.
“Every genuine vote must be respected, and every lawful mandate must be protected. This is also a clarion call as we approach 2027. Nigerians must remain informed, participate actively, vote, and protect their votes.
“The Nigerian people are the ones experiencing hunger, deprivation, insecurity, and hardship; therefore, they are also the ones with the power, through their votes, to bring about the change that will end these conditions.
“I urge all political actors to place the interests of the people above partisan considerations and to embrace peace, unity, and the rule of law.”
Obi warned that elections should never be battles of violence, but contests of ideas, competence, character, and service.
“May the Osun experience strengthen our confidence in the democratic process and inspire Nigerians everywhere to remain vigilant and committed to building a just, secure, prosperous, and truly people-centred nation. A New Nigeria is possible,” the former Governor of Anambra State added.
Osun State Governor, Ademola Adeleke, was on Sunday declared elected, having won 19 out of the 30 local government areas in the governorship election held across the state on Saturday.
The State Returning Officer, the Vice-Chancellor of the Federal University, Oye Ekiti, Prof Joshua Ogunwole, declared the result of the poll at about 7:24 am on Sunday.
Adeleke polled a total of 511067 votes to emerge victorious in the contest.
Ogunwole subsequently returned the governor to office for another term.
The incumbent Osun governor, who contested the poll on the platform of the Accord, defeated his closest challenger, Bola Oyebamiji of the All Progressives Congress, who won in 11 LG areas of the state.
While Adeleke won in Ede North, Ede South, Ejigbo, Iwo, Egbedore, Ife North, Ife East, Ife Central, Oriade, Ifelodun, Orolu, Ayedaade, Ayedire, Odo Otin, Boluwaduro, Ilesa West, Ifedayo, Osogbo and Ayedire local government areas.
Oyebamiji, however, won in Irewole, Isokan, Olorunda, Atakumosa East, Atakumosa West, Ilesa East, Boripe, Irepodun and Obokun local government areas.
Declaring the results, Ogunwole said, “Accredited voters, 1010684, total votes received by political parties, A, 511067, AA, 2308, AAC, 1458, ADC, 17180, ADP, 2946, APC, 444815, APGA, 1475, APM, 234, APP, 114, BP, 111, NNPP, 118, PRP, 83, SDP, 155, YPP, 534, ZLP, 2482, total valid votes, 985079, rejected votes, 207, total vote cast, 1,005,800.”
After agents of the political parties have signed the results of the election, the Returning Officer declared Adeleke of the Accord as the winner of the poll.
“That Ademola Nurudeen-Jackson Adeleke having satisfied the requirements of the law is hereby declare the winner of the August 15 Governorship election and returned elected,” Ogunwole said.
The candidate of the African Democratic Congress in the poll, Najeem Salaam, came third in the poll.
The Governor of Osun State, Ademola Adeleke, of the Accord Party, has won 19 Local Government Areas out of the 30 in the state, while his close rival, Bola Oyebamiji of the All Progressives Congress, clinched 11 LGs in the Saturday governorship election.
Adeleke is awaiting the official declaration from the Independent National Electoral Commission following the collation and announcement of results on Sunday.
Here is the breakdown and how Osun indigenes voted:
1. Boluwaduro LG
Returning Officer: Prof Sola Omotola
A: 7,118
APC: 7,050
ADC: 179
Accredited voters: 14, 662
Total valid votes: 14,478
Total votes cast: 14,655
#OsunDecides: Massive Turnout at Abogunde Compound, Ward 2, Unit 9, Ede North0:00 / 0:00
2 Ede South LG
Returning Officer: Raji Oluwakemi
A: 26,188
ADC: 390
APC: 6,219
Accredited voters: 34,011
Total votes cast: 33,950
Total valid votes: 33,210
3. Ife North
Returning Officer: Prof Tajudeen Opoola
A: 13,879
ADC: 333
APC: 9,613
Accreditation: 24,772
Total votes cast: 24,704
Total valid votes: 24,216
4. LGA: Ilesa West LGA
Returning Officer: Prof Babatunde Omotoso
A: 16196
ADC: 673
APC: 12756
Accredited voters: 31333
Total votes cast: 31234
Total valid votes: 30244
5. LGA: Ifedayo LGA
Returning Officer: Prof Babatope
A: 7427
APC: 6836
ADC: 115
Accredited voters: 14703
Total votes cast: 14703
Total valid votes: 1449
6. LGA: Ilesa East LG
Returning Officer: Prof. Chika Asogba
A: 12280
ADC: 504
APC: 16208
Accredited voters: 30371
Total votes cast: 30209
Total valid votes: 29460
7. LGA: Ife Central LGA
Returning Officer: Prof. Adekoya Iromini
A: 21171
ADC: 747
APC: 15913
Accredited voters: 39990
Total votes cast: 39330
Total valid votes: 38380
8. Boripe LGA
Returning Officer: Prof. Ahmed Sakiru
A: 12448
ADC: 379
APC: 19963
Accredited voters: 33943
Total votes cast: 33713
Total valid votes: 33116
9. LGA: Irepodun LGA
Returning Officer: Babafunso Awe
A: 14504
ADC: 249
APC: 15713
Accredited voters: 31291
Total votes cast: 31282
Total valid votes: 30717
10. LGA: Obokun
Returning Officer: Dr Stephen Ojo
A: 12023
ADC: 205
APC: 16120
Accredited voters: 29183
Total votes cast: 29147
Total valid votes: 28687
11. LGA: Orolu
Returning Officer: Dr Akinkunmi Sunday
A: 12352
ADC: 236
APC: 10622
Accredited voters: 25424
Total votes cast: 23890
Total valid votes:23438
12. LGA: Osogbo
Returning Officer: Udueke Maximilian
A: 36480
ADC: 1503
APC: 30474
Accredited voters: 70840
Total votes cast: 70785
Total valid votes: 69307
13. LGA: Oriade
Returning Officer: Dr Olabode Olajide
A: 21343
ADC: 423
APC: 14863
Accredited voters: 37962
Total vote cast:37933
Total valid votes: 37073
14. LGA: Odo Otin
Returning Officer: Prof. Adebola Aderibigbe
A: 18003
ADC: 377
APC: 15435
Accredited voters: 34482
Total votes cast: 34456
Total valid votes: 34026
15. LGA: Ife East
Returning Officer: Prof. Benjamin Omolayo
A: 27201
ADC: 935
APC: 18600
Accredited voters: 49065
Total votes cast: 49017
Total valid votes: 47519
16. LGA: Ifelodun
Returning Officer: Prof Olayiwola Fasonranti
A: 21107
ADC: 509
APC: 18396
Accredited voters: 41156
Total vote cast:41143
Total valid votes: 40466
17. LGA: Atakumosa West
Returning Officer: Prof Adesiji Taiwo
A: 7479
ADC: 213
APC: 10037
Accredited voters: 18707
Total votes cast: 18399
Total valid votes:17985
18. LGA: Iwo
Returning Officer: Mrs Koyejo Fasakin
A: 27085
ADC: 588
APC: 19660
Accredited voters: 48985
Total votes cast:48953
Total valid votes: 48027
19. Ede North
Returning Officer: Associate Prof. Jacob Opele
A: 35427
ADC: 307
APC: 10283
Accredited voters: 47262
Total votes cast:47205
Total valid votes: 46474
20. Ila LG
Returning Officer: Prof Oludolapo Amu
A: 16211
ADC: 259
APC: 12934
Accredited voters: 30028
Total votes cast: 30021
Total valid votes: 29605
21.. Irewole LG
Returning Officer: Mr Wahudi
A: 10934
ADC: 275
APC: 29972
Accredited voters: 42858
Total votes cast: 42824
Total valid votes: 41575
22. Ayedire LGA
Returning Officer: Dr Samuel Sunday
A: 11073
ADC: 148
APC: 9910
Accredited voters: 21419
Total votes cast: 21414
Total valid votes: 21228
23. Atakumosa East LGA
Returning Officer: Prof Bukola Bolaji
A: 7872
ADC: 333
APC: 9936
Accredited voters: 19253
Total votes cast: 18823
Total valid votes:18442
24. Egbedore LGA
Returning Officer: Mrs Omolara
A: 19278
ADC: 363
APC: 11194
Accredited voters: 31867
Total vote cast: 31830
Total valid votes: 31155
25. Ayedaade LGA
Returning Officer: Prof Fakayode
A: 16681
ADC: 331
APC: 15719
Accredited voters: 34232
Total vote cast: 33801
Total valid votes: 33180
26. Isokan LGA
Returning Officer: Prof Anthony Fajinmi
A: 13765
ADC: 384
APC: 14063
Accredited voters: 29421
Total votes cast: 29405
Total valid votes: 28715
27. Olaoluwa LGA
Returning Officer: Prof Temitope Babalola
A: 10063
ADC: 213
APC: 10782
Accredited voters: 21599
Total votes cast: 21595
Total valid votes: 21228
28. Ife South LGA
Returning Officer: Prof Shittu Olugoke
A: 13507
ADC: 290
APC: 14678
Accredited voters: 29521
Total votes cast: 29461
Total valid votes: 28906
29. Ejigbo LGA
Returning Officer: Prof Cicilia Akintayo
A: 18458
ADC: 5053
APC: 16195
Accredited voters: 41173
Total votes cast: 41125
Total valid votes: 40314
30: Olorunda LGA
Returning Officer: Prof Hilary Okoh
A: 23514
ADC: 666
APC: 24671
Accredited voters: 51172
Total votes cast: 50793
Total valid votes: 49458
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