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Ganduje inagurates road projects, distributes relief materials to flood victims in Sokoto



Ganduje inagurates road projects, distributes relief materials to flood victims in Sokoto

Dr Abdullahi Ganduje, the All Progressives Congress (APC) National Chairman has inagurated newly constructed road projects in Sokoto metropolis and inaugurated the distribution of relief materials to 2022 flood victims.

Inaugurating Abarshi road on Friday, Ganduje expressed excitement over developmental strides recorded by Gov. Ahmad Aliyu within the span of 100 days’ stewardship.

He congratulated Sokoto citizens for electing Aliyu, saying,”he has demonstrated capacity to transform the state to better.

“With the developments he recorded within 100 days in office, the next four years will surely be fruitful.”

The party leader said that with the recent victory of President Bola Tinubu at the Presidential Election Petition Tribunal, Nigerians should expect more developments and they have an assurance that their votes had been genuinely counted.

Ganduje, who was the former Governor of Kano State urged Nigerians to be steadfast in prayers for the president to overcome all challenges to transform the nation to more greatness.

He enjoined the oppositon parties to accept destiny and consider the court’s verdict as a victory for democracy in recognition that all legs of the petitions were perused and decided by the reputable Judges.

Ganduje urged State Governors especially APC members to emulate Aliyu on his determination and courage to execute viable projects for the benefit of the citizens.

He further commended Federal and Sokoto State Governments for the distribution of relief materials to 15,668 victims of 2022 floods and vulnerable persons in the state, which he described as succour to them.

The APC national chairman also urged the beneficiaries to ensure the judicious use of the items aimed at cushioning the hardship they faced as result of the disaster.

Ganduje said that party was fully prepared for victory in the forthcoming off-season governorship elections in Kogi, Bayelsa and Imo State and other future elections.

He urged party loyalists to remain committed as well as shun all activities that might cause disunity among its members nationwide.

Meanwhile, Ganduje had met with APC state executives at the party’s secretariat in Sokoto where he stressed the need for unity and support to Aliyu and others for maximum successes to be recorded.

In his address, Aliyu extolled the leadership of Ganduje for uniting the APC in all strata and reassured his support to Tinubu and the party”s leadership.

Aliyu assured that the state government would continue to execute projects that would enhance the live of citizens as well as support the less-privileged and vulnerable persons in the state, in line with his 9-point agenda.

The National Emergency Management Agency (NEMA) Team Lead and Officer in charge of Special National Economic and Livelihood Emergency Intervention Programme, Mr Sani Hamza, said the effort was to assist vulnerable persons.

Hamza also said that the gesture was to facilitate the quick return of normalcy in the 15 Local Government Areas affected by the flood disaster.

He said that the intervention was also expected to drive the sustainable socio-economic resilience of the targeted most vulnerable persons.

According to him, a joint committee that comprised NEMA and State Emergency Management Agency (SEMA) officials had conducted a survey and needs assessment of the affected places and persons.

Other newly constructed roads included Nagwanatse, Bungudu, Gawon Nama and Diplomat, among others.


Hardship: Protesters Defy Police Warning, Hit Lagos Streets



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



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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