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Adamawa govt. inaugurates street naming, house numbering committee

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The Adamawa State Government has inaugurated a committee on street naming and house numbering to promote urban development and enhance the security of the residents.

Mr Sunday Mathew-Nyagra, the Commissioner for Housing and Urban Development, made the disclosure in an interview with the News Agency of Nigeria (NAN) in Yola on Thursday.

He said street naming and house numbering constitute the most essential aspect of urban development as they aid the rapid response of security agencies in the event of emergency.

“The initiative would make street and house identification easier, especially during emergency situations,” he said.

He said the initiative would also facilitate delivery of goods and services across the rural and urban areas which could otherwise cause delay or total lack of identification.

According to him, the committee is mandated to bring out modalities on how to efficiently implement house and street numbering across the 21 local government areas in the state.

The Commissioner explained that the initiative would also enhance revenue collection by relevant government ministries and agencies as well as enhance security of lives and properties of the people.

He said the committee would be chaired by the Commissioner for Housing and Urban Development with representation from the State Urban and Regional Planning Board, Nigerian institute of Town Planners (NITP) among others.

The committee is expected to begin operation as soon as possible for onward implementation of the programme.

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Hardship: Protesters Defy Police Warning, Hit Lagos Streets

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Residents have hit the streets of Lagos State to protest against the increasing spike in the price of food and the high cost of living in the country.

The protest was facilitated by a human rights group identified as the “Take It Back Movement.”

This comes against the warning issued by the Lagos State Commissioner of Police, Adegoke Fayoade, on Sunday.

The protesters were seen carrying placards of various inscriptions at Ojuelegba Under Bridge area of the state to express their grievances.

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CBN Lifts Ban On BDCs, Introduces New Operational Mechanism

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In a major development aimed at financial stability and strengthening the naira, the Central Bank of Nigeria (CBN) plans to resume its weekly intervention in the country’s foreign exchange (FX) market through the Bureau de Change (BDC) operators.

In 2021, the central bank, in a bid to achieve its mandate of safeguarding the value of the local currency, ensuring financial system stability, and shoring up external reserves, announced the immediate discontinuance of foreign currency sales to Bureau de Change (BDC) operators in the country.

However, the resumed intervention, which would reportedly commence today for funding as well as Tuesday for collection, will see the apex bank inject FX into the subsector in a bid to rescue the naira from further depreciation against major currencies, particularly the US Dollar. The collection will be at designated CBN branches in Lagos, Abuja, Kano, and Awka, while details of the naira accounts to be credited for funding bidding will also be made available today.

CBN is also expected to publish the list of eligible BDCs to benefit from its funding using certain compliance criteria.National Executive Council of Association of Bureau De Change Operators of Nigeria (ABCON) hinted on the latest developments through a memo to its members over the weekend.

The association also warned members that it will no longer be business as usual under the new supervisory regime of the central bank, as any infringement or infraction would result in outright revocation of license and prosecution.

ABCON said through the association’s various engagements with the central bank, in conjunction with ABCON’s strategic partners, CBN had agreed to its request, under the bank’s supervision, to inject liquidity into the market through a weekly intervention beginning today.

CBN assured ABCON that the new circular on the Revised Regulatory and Supervisory Guidelines to BDCs, which was introduced over the weekend, was only a draft exposure that required the association’s inputs before the release of the final guidelines by the apex bank.

To that effect, the letters of the guidelines were not cast in stone, the association’s leadership told its members, who had been worried over the sweeping reforms in the document, which, among other things, prescribed N2 billion and N500 million minimum capital for national and state BDCs, respectively.

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