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Support My Father — Folashade Tinubu To Nigerians

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President Bola Ahmed Tinubu’s eldest child, Chief Folashade Tinubu-Ojo, has sought understanding and support for her father in his quest to make Nigeria a better place.

She made the plea at the Evolving Women In Politics (EWIP) Presidential Inauguration Victory dinner in Abuja on Saturday.

The event was for the celebration of Tinubu’s victory at the election and his inauguration as the 16th President of Nigeria.

“I seek fellow Nigerians understanding and support for our President to succeed. I also want to appreciate Nigerian women. This is our turn, our hope is renewed. I must appreciate the commitment of this group, EWIP, for what we have done, the love is overwhelming.’

“All that you have committed to this cause may God return it to you in a million fold. What you have done for someone else, may your children enjoy it while you are alive. Thank you for being patriotic, you spent your money, time, and resources towards this cause,” Tinubu-Ojo, who is also the Iyaloja-General of Nigeria, said.

In her welcome address, the National President of EWIP, Hajia Fatima Bello, said, “We are here to appreciate our journey so far and to celebrate our father and President, Asiwaju Bola Ahmed Tinubu for his inauguration. EWIP is a group of women supporting women to bring the best out of us.

“Our principal and grand matron talked about 35 percent women inclusion, we have visited about 200-300 Obas in four years and they said yes to us. His (Tinubu) leadership is second to none. He is talk and do. Only God is 100 percent but we trust that he will be able to do all that he promised. We called him to come and contest. We know he can fix Nigeria. We trust that he will appoint more women in his government. We are proud of him.’

Member-elect of the Federal House of Representatives, Kosofe Local Government in Lagos State, Hon. Kafilat Ogbara, in her keynote said, “EWIP has been my baby, I have known EWIP before SWAGA happened. EWIP is very strategic and important if we want women participation in politics to increase. These women are already interested and passionate to go into politics. I want to charge us to tell more women to join EWIP.”

Ogbara advised Nigerian women to be each other’s sister’s keeper and should not allow men them against each other.

“Be your sisters’ keeper and not be against your sister. What she will get can’t stop what you will get. When we are united, there is nothing that we cannot get,” she 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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