Connect with us

News

NEMA receives 298 stranded Nigerians from Libyan prisons

Published

on

NEMA receives 298 stranded Nigerians from Libyan prisons

The National Emergency Management Agency (NEMA) has received a batch of 298 Nigerians who were stranded in Libyan prisons.

The agency said this in a statement on Tuesday in Lagos.

The statement said the returnees spent varying periods at various detention camps in the northern African country.

They were repatriated back to the country in two separate chartered flights, the first with 161 returnees on Aug. 21 while the second flight came on Monday with 137 returnees.

NEMA said that the second batch of returnees arrived on board an Al Buraq Air Boeing 737-800 with registration number 5A-DMG, at the Murtala Muhammad International Airport, Cargo Wing, Ikeja at about 5:38 p.m. on Monday.

The returnees comprised 119 females who were mostly pregnant and 170 males with 3 female children, 3 male children and 3 infants.

NEMA revealed that International Organisation of Migration (IOM), Port Health Service and National Commission for Refugees, Migrants and Internally Displaced Persons (NCFRM) also received the returnees.

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