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Banks to issue new naira notes today, reconfigure ATM machines

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The newly redesigned naira notes will go into circulation on Thursday (today) with Deposit Money Banks releasing the bills to their customers via over-the-counter payments.

This came about three weeks after President Muhammadu Buhari unveiled the new bills at a weekly Federal Executive Council meeting in Aso Rock Villa.

The President unveiled the redesigned notes across the N200, N500 and N1,000 denominations.

The Governor, Central Bank of Nigeria, Godwin Emefiele, had in October announced that apex bank would release re-designed naira notes by December 15, 2022.

He also disclosed that the old notes would cease to be regarded as legal tender by January 31, 2023.

Emefiele pointed out that the redesigning of the naira notes would help to curb counterfeit notes, and reduce ransom payments to terrorists and kidnappers.

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The CBN boss said it was worrisome that 85 per cent of the total currency in circulation was being hoarded by Nigerians.

As such, he said the redesigning of the local currency would help to mop up the currency outside the banking sector, adding that out of about N3.3tn in circulation, close to N2.75tn were outside the banking sector.

Meanwhile, top officials of commercial banks confirmed to our correspondent on Wednesday they had received the new notes from the CBN a couple of days ago, adding that the redesigned currency would be released to their customers effective Thursday (today).

“We got the funds (new notes) about two days ago. Our head office has dispatched the funds to various area offices across the country. My branch will pick up our allocation at a nearby area office. We will start releasing the new notes to our customers by Thursday,” according to a top official of a commercial bank who spoke to one of our correspondents on condition of anonymity on Wednesday because he was not authorised to speak on the matter.

Multiple banking sources also said the new notes had arrived and were being kept in their vaults.

They confirmed the new notes would be paid to customers in banking halls beginning from Thursday.

“The new notes have arrived, it will be made available to customers from tomorrow (Thursday)” an official of Polaris Bank who pleaded anonymity.

Also, a manager at First Bank Plc who was not authorised to speak on the matter said, “We have the funds from the CBN now. It came in some days ago but it will be made available to customers from tomorrow (Thursday).”

However, some bank officials claimed the amount of the new notes available to the various bank from the CBN was small.

According to them, most OTC payments will still have to be made using the old notes because the amount of the available new notes is still small.

“The amount given to us is small compared to what we need. For example, what is available to my branch is less than N1m. This is nothing compared to what we need. But I believe it will increase with time,” an official of FCMB in Lagos who pleaded anonymity told one of our correspondents.

Also, multiple banking sources confirmed they have started to reconfigure their ATMs to identify the new naira notes.

A top bank executive said, “Most of the banks have started reconfiguring their ATMs so that they can identify the new notes of N1000, N500 and N200.,”’

Meanwhile, findings from the CBN show the total amount to be released into circulation may not be much as the sum previously in circulation.

A top official of the CBN, who spoke on condition of anonymity, said the CBN was planning to increase electronic payments and not cash transactions.

According to him, the CBN will not be printing large amount of the new notes.

He said, “The CBN has been disbursing the new naira notes to the banks but does not intend to disburse large quantities because it wants to boost electronic payments.

“Don’t expect that there will be a large circulation of the new notes in the economy. There are different electronic channels that people should be using.”

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Security guard kidnaps employer’s two children, demands ransom

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The abducted children
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A private security guard has escaped with two kids from his employer in Minna, with the police suspecting abduction.

The security guard, named Sani Abdulrahaman, a Fulani by tribe, on Sunday, reportedly took Umaru and Anas, both six years old, on Sallah picnic without the knowledge of their father, Alhaji Danjuma, a businessman, and failed to bring them back home.

The father of the children raised the alarm asking the public and security agencies to help him locate the fleeing security guard and his children.

Danjuma said someone called him on Sunday evening and said he was in Erena forest in Shiroro Local Government Area with the children.

According to him, the caller asked for undisclosed ransom before his children who were in their custody would be released.

When contacted, Niger State Command Police Public Relations Officer, SP Wasiu Abiodun, confirmed the incident, which he said occurred about one o’clock on Sunday, May 31.

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Abiodun explained that the security man pretended that he was taking the children for Sallah celebration in the town, but did not return.

He said the police suspected abduction but disclosed that “investigation has commenced and efforts to locate the children are ongoing.”

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Police arrest suspect behind AI-generated Tinubu voice note

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Ifechukwu Dennis, the suspect
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The Nigerian Police Force has arrested Ifechukwu Dennis, the man identified as the originator of an AI-generated voice note that was widely circulated online as a leaked recording of President Bola Tinubu.

Presidential Special Adviser on Information and Strategy, Bayo Onanuga, announced the arrest on Thursday in a post on his official X account.

“The IGP crack team has arrested Ifechukwu Dennis who originated the fake voice that he passed on to his gullible targets as President Tinubu’s voice,” he said.

The arrest closes a week-long controversy that began on May 27, 2026, when a video of social media activist Martins Vincent Otse, popularly known as VeryDarkMan, went viral.

In the clip, an AI-generated voice resembling Tinubu’s was heard making inflammatory statements — including that insecurity in the South-East was deliberate, that he had pressured Peter Obi to step down ahead of the 2023 election, and that he was indifferent to Nigerians’ suffering.

Investigations by multiple news organisations, however, established that VDM had not posted the doctored audio.

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An unidentified individual had extracted footage from VDM’s original Instagram video and superimposed the AI-generated voice notes before recirculating the manipulated version online.

Despite this, the Presidency had initially called for VDM’s prosecution.

Onanuga had described the incident as “a clear case of egregious abuse of the social media platform,” drawing criticism after fact-checkers confirmed VDM’s original video contained none of the fabricated audio.

Further details on the circumstances of Dennis’s arrest and the charges he may face were not immediately available at the time of filing this report.

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Five abducted Kwara worshippers killed, one escapes, others still held

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Terrorists have killed five out of the eight worshippers abducted at ECWA Church Omugo in Ifelodun local government area of Kwara state, says one escaped abductees.

Rev Sunday Omole had urged federal government to expedite action on the release of the abductees from the captivity of the terrorists.

The clergyman said government intervention had become necessary after the community paid the terrorists N20 million and provided additional items worth more than N300,000, yet the abductors refused to release the worshippers and instead demanded an additional N300 million ransom.

He added that from the action of the terrorists it was clear that they just wanted to be exploiting the community.

Recall that eight of the worshippers including the Pastor’s wife were kidnapped in the morning of March 22,2026 during a Sunday service.

The death of the five worshippers including the Pastor’s wife was disclosed in a statement issued by the Pastor of the church, Rev Sunday Omole, Wednesday evening.

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The statement reads:

“It is with deep pain in my heart that I inform the church, families and individual concerned in regard to the 8 people that were abducted from ECWA OMUGO on 22nd of March, 2026.

“We received one of our son’s, Mr Sunday Bakare also abducted over a month ago, he escaped and brought the following news that only 3 out of 8 of our people are remaining with the kidnappers. The remaining 5 have gone to be with the Lord.

“They are; Elder Chief David Omopariola,
Chief Joseph Ibitoye Afariogun,
Mrs Iyabo Aniyi,
Elder Joshua Akanbi Adeyemi and
Mrs. Rachel Oluwaremilekun Omole(his wife).

“Brethren, let’s know that God knows why He allows this to happen. The great comforter will comfort us in Jesus name, amen.

“The prayers of the saints in the beginning of the church also worked and answered still they had martyrs. John 16:33 says (NIV) “I have told you these things, so that in me you may have peace . In this world you will have trouble . But take heart! I have overcome the world.”
Heaven is our home and Gain. Let’s reason as child of God as we navigate this moment. God bless you, and comfort you all in Jesus name, amen.”concluded the statement.

It was also gathered that the three remaining worshipers are in terrible health condition, while a member of church who escaped from the terrorists captivity is currently receiving an urgent medical attention in a private hospital in OmuAran.

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