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CBN injects $100 million into forex

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The Central Bank of Nigeria (CBN) again offered 100 million dollars to authorised dealers to meet the 7 to 15-day forwards requests of customers just days after the apex bank invested $280 million into the Foreign Exchange Market.

This was disclosed by the acting Director, Corporate Communications Department, CBN, Mr Isaac Okorafor in a statement on Wednesday where he said that the banks and authorised dealers were only able to pick up 68.51 million dollars, out of the 100 million dollars offered.

Okorafor attributed the inability of the authorised dealers to fully subscribe to the CBN to a surfeit of forex in the system, which may lead to further appreciation of the naira.

According to him, the trend monitored by the Bank indicated that deposit money banks were now able to meet the forex demands of their customers within the time frame stipulated by the CBN.

He said that the CBN will on Thursday, continue its sale of 20,000 dollars to Bureaux de Change (BDCs) for onward sale to small-end users.

Okorafor said feedback on the Bank’s forex new window for Small and Medium Enterprises (SMEs) in the country revealed that majority of small importers were heading for a major boost in their activities.

This he said was responsible for the current appreciation of the Naira, stressing that the Naira will continue to gain strength with the relentless efforts of the CBN to supply the market with forex.

The spokesman also reiterated the determination of the CBN to continue to intervene in the various sectors of the interbank forex market in order to guarantee access to all categories of customers requiring forex for legitimate obligations.

The Naira on Wednesday closed at N390 at the parallel market and N306 to a dollar at the interbank market on Wednesday.

Meanwhile the World Bank has applauded the strategy of the CBN to increase sales of foreign exchange to the interbank market, Bureau de Change as well as other segments.

It however, stressed the need for the CBN to ease restrictions on access to foreign exchange, which continues to hinder rigorous economic recovery in the country.

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Buhari To Make National Broadcast At 7pm

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Buhari To Make National Broadcast At 7pm
Buhari To Make National Broadcast At 7pm

Buhari

Nigeria’s President Muhammadu Buhari will make a national broadcast Thursday evening, following the escalation of violence in different parts of the country.

“Following detailed briefing by security chiefs on the current situation in the country, Buhari will make a national broadcast Thursday, October 22, 2020 at 7pm,” President Buhari’s media adviser Femi Adesina said.

“Television, radio and other electronic media outlets are enjoined to hook up to the network services of the Nigerian Television Authority (NTA) and Radio Nigeria respectively for the broadcast,” says Femi Adesina who is Special Adviser to the President on Media and Publicity.

Lagos and most of Nigeria has been overrun by arsonists and hoodlums since soldiers opened live rounds on peaceful protesters on October 20, 2020.

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End SARS: Gen. John Enenche Reacts To Lekki Toll Gate Shootings

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End SARS: Gen. John Enenche Reacts To Lekki Toll Gate Shootings
John Eneche

John Eneche

Major General John Eneche, the Nigerian defence director of information, has said that the reports about soldiers shooting #EndSARS protesters at Lekki Tollgate on Tuesday are mere ‘allegations.’

Eneche said this during a media briefing in Abuja, where he also mentioned that the analysis of the shooting and video evidence available suggest that they may have been photoshopped.

In his words;

“I even got analysts. People that have analysed the various videos that were cropped and photoshopped put together. If not that I’m not permitted, I could have forwarded it to your Instagram”, he said.

Eneche added that he is not permitted to speak further on the incident so as not to compromise the outcome of the findings by the Commission of Enquiry already constituted by the Lagos State Governor, Babajide Sanwo-Olu.

In his words;

“We are dealing with major operations, anything outside this is what is called Operation MENSA, I may not want to go too much into Operation MENSA because it is not a major operation. We have nine Operations and other subsidiary Operations which I have been directed to focus.

“Operation MENSA is strictly under the policy directive of the various states we have them all over the country and it is the oldest of all Operations. For this Operation you have the Military, Navy Air Force, Civil Defence and the Police put together. So these Operations are still standing and running and I am aware that the state governments are using them in all these capacities, that is internal security, the level we are now is internal security and that is why the Police proactively came out and then deployed all their Force package that are necessary to handle that so that is where we are. So if there was anything and if it is true, why am I saying if it is true because up to this morning, I even called analysts who have analyzed videos that were photoshopped and put together, if not that I am not permitted, I would have forwarded it to you.

“The issue is not an operation that I can respond to. But I can tell you that it is an allegation for now, so let us not set the cart before the horse. If the matter was still open-ended I would have had I response for you but it is no longer open-ended, because immediately, not even up to five hours, before midnight the Governor of Lagos set up an Inquiry, so whatever we say now will not be fair to the Commission.”

Read Also: Sanwo-Olu Confirms Lekki Toll Gate CCTV Still Intact

Watch the video clip below:

 

 

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Ekiti Extends Curfew Indefinitely

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Ekiti Extends Curfew Indefinitely
Ekiti Extends Curfew Indefinitely

Governor Fayemi

Amidst the continued violence across the country, Governor of Ekiti State, Kayode Fayemi has approved the extension of the 24-hour curfew in Ekiti State indefinitely.

The curfew was declared on Tuesday evening following reported cases of violence in Ado Ekiti as hoodlums allegedly the peaceful protest by EndSARS protesters.

The initial curfew lapsed on Wednesday night by 10 pm.

Also Read: “I don’t care about #EndSARS”- Edo state deputy governor’s son slams protesters

However, on Thursday morning, the Commissioner for Information, Mr. Akin Omole, announced that the curfew still continues in every part of the state until further notice.

It reads: “The general public is hereby alerted that the 24-hour curfew announced by the State Government is still in place in all parts of the state until further notice.

“Government appreciates the cooperation of all citizens of the state in obeying the curfew and ensuring that peace returns to the state.”

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