Connect with us

News

Commissioners: Gov Alia sends 14 names of nominees to Benue Assembly

Published

on

Gov Alia Hyacinth Alia

Gov. Hyacinth Alia of Benue, has sent 14 names of nominees for screening and possible confirmation as commissioners,, to the Benue House of Assembly.

The Speaker of the house, Mr Hyacinth Dajoh, disclosed this while reading a letter titled “Submission of Commissioner Nominees and Screening” from Alia during plenary on Thursday.

Dajoh, who did not however give the names of the nominees, promised that their names would be revealed on the day of the screening.

He, however, said that the nominees were Benue-born technocrats, who would not fail Benue people if they succeeded in scaling through the screening process.
Speaking to newsmen after plenary, the Chairman of the House Committee on Information, Mr Elias Audu (Gwer-East/APC), said the governor had sent in 14 names as against the usual 16.

Audu said the governor might have genuine reasons for his actions which he believed hinged on track records of people who would help him succeed in his administration.

News

Hardship: Protesters Defy Police Warning, Hit Lagos Streets

Published

on

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.

Continue Reading

Headline

CBN Lifts Ban On BDCs, Introduces New Operational Mechanism

Published

on

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.

Continue Reading

Facebook

Trending