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All’s set for 2023 Lagos Women Dance — Convener

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All is set for the 2023 Lagos Women Dance on Saturday where many women from all walks of life are expected to participate.

The dance, which is organised by Jela Projects Limited in conjunction with Seed Rehabilitation Foundation, is in its fourth edition.

According to a statement signed by the Founder, Jela Projects Limited, Mrs Angela Tony-Iji, on Friday in Lagos, the dance has the potential to promote tourism in Lagos State and Nigeria as a whole.

The statement also said that the dancing helped in reducing stress and women should be encouraged to imbibe the culture of dance.

“We are also calling on the government, corporate organisations, and well meaning Nigerians to partner and sponsor women events, tailored toward women’s health and fitness physically, emotionally and financially.

“Women are overlaboured with all forms of chores, and are stressed, having little or no time to de-stress, socialise, do medical checkups, mingle, and have fun.

“As a result, a lot of people are depressed, most especially at this season of harsh economic crunch; women need to be encouraged.

“There will be financial talk; health tips, and grants accessibility talk; dance, food and drink, and feed your soul with scaling-up message that call for the growth of women,” it stated.

The statement noted that the dance, which would hold at National Stadium, Surulere, would grace women from Canada, Kenya, Ghana and Rwanda among other countries.

It also stated that no fewer than 5,000 women were expected to participate in the 2023 edition.

“Government officials will also participate to grace the occasion, “ it said.

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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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