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Nollywood actress assures Lagosians of high level productivity, economic boost

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Nollywood actress and politician, Funke Akindele, has called on Lagosians to vote for Abdul-Azeez Adediran and herself, as their next Governor and Deputy Governor of Lagos State on Saturday.

The renowned actress, who took to her Instagram page to solicit for votes, assured Lagos residents of high level productivity and boosting of economy if voted to power.

The News Agency of Nigeria (NAN) reports that Akindele is the running mate to Dr Adediran, the governorship candidate of the PDP, Lagos State, for the 2023 election scheduled to hold on Saturday.

According to her, the most used means of transportation has been left unattended to.

She added that even the problem of traffic has continuously plagued Lagosians for years, hence affecting productivity.

Akindele noted that some of the traffic problems required infrastructure renewal, stressing that most of them could be solved with a strong political will.

“We call Lagos state a “wealthy” state and the reason for this, is because of its high level of commercial activities which could only be made possible through effective transportation.

“Some of our traffic problems require infrastructural renewal. However, most of them can be solved with a strong political will.

“This, we will bring to bear in the short term, to clear up bottlenecks, identified flash points by rejigging traffic management agencies to improve performance and delivery,” she said.

Akindele said that her team would ensure enforcement of traffic laws with the aid of technology and skew travel time for heavy duty vehicles, among others.

The deputy governorship candidate said that if elected, their administration would create more lay-bys and fly-overs for free flow of traffic.

“These we are convinced, will safe man hour wasted on our roads and improve productivity, thereby boosting the economy of the state.

“This is one of the many issues the #JandorFunke2023 administration will prioritise once elected into power.

“Vote wisely! Vote Dr Abdul-Azeez Olajide Adediran and Funke Akindele as your next Governor and Deputy Governor of Lagos state,” she wrote.

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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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