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Security: Fintiri relaxes curfew by 12 hours

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Ahmadu Fintiri

Gov. Ahmadu Fintiri has relaxed the 24-hour curfew earlier imposed on the state by 12 hours.

This contain in a statement issued by the Chief Press Secretary to Fintiri, Humwashi Wonosikou, in Yola on Monday.

The state government said the curfew was relaxed from 6 a.m. to 6 p.m. after meetings with security chiefs in the state.

Fintiri who was represented by his Deputy, Kaletapwa Farauta, urged parents to send their wards to school and also encouraged businesses to open and go about their daily activities as the government would not fold its arms and allow miscreants to disrupt public peace.

The governor warned hoodlums and the public to abide by the curfew and remain courteous and cooperative if approached and questioned by security personnel.

Fintiri has declared a 24-hour curfew on the state with immediate effect, following wide scale looting and attacks on citizens by alleged hoodlums.

The state government said the hoodlums, complaining of hunger and high cost of foodstuff following the recent increase in price of fuel, ransacked government-owned and private food storages and warehouses, carting away anything in sight in anger.

The governor said the situation had assumed a dangerous dimension in Yola, as the protesters attacked people with machetes and broke into business premises and homes stealing goods and property.

“With the curfew imposed, there will be no movement throughout the state. Only those on essential duties with valid identification would be permitted to move around during the period of the curfew,” he said.

Fintiri appealed to law-abiding residents to comply with the directive, warning that anyone caught contravening the order would be arrested and prosecuted.

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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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