Connect with us

News Feed

CBN Injects $304.4 million Into Forex Market As Naira Records Improvement…See Latest Exchange Rate

Published

on

Naira and dollar notes

The Central Bank of Nigeria, CBN, has intervened in the Retail Secondary Market Intervention Sales, SMIS, of the inter-bank Foreign Exchange Market to the tune of 304.4 million dollars.

The bank’s acting director, Corporate Communications Department, Isaac Okorafor, in a statement in Abuja on Friday reiterated that the objective of the CBN remained to boost liquidity, production and trade.

He said the recent interventions were in favour of interests in the agriculture, airlines, petroleum products, raw materials and machinery sectors.

According to him, the CBN will continue to ensure liquidity in the interbank sector of the market as well as sustain its interventions in order to drive economic growth and guarantee market stability.

Mr Okorafor expressed optimism that the Nigerian economy stood to gain massively from the Bank’s foreign exchange management strategy.

According to him, it can be seen in the accretion to the foreign reserves, which now stands at more than 40 billion dollars.

Meanwhile, the naira exchanged for N361 to a dollar in the Bureau de Change segment of the market on Friday.

-NAN

Stay updated with the latest Nigerian news from Information Nigeria

News Feed

Government official has a hand in the present situation of the country – Babangida

Published

on

Government official has a hand in the present situation of the country – Babangida

Former Military president of Nigeria, Ibrahim Badamasi Babangida has disclosed that the government has a hand in the mayhem going on in the country.

The 79-year-old made this remark owing to the massacre in Lekki toll gate and other parts of the country. He quoted Gen. Sani Abacha and disclosed that any insurgency that exceeds 24hours is being manipulated by the government.

Taking to his Twitter page he wrote;

“Once again, I will like to quote Late Gen. Sani Abacha: “Any Insurgency that lasts more than 24 hours, a government official has a hand in it.”

Continue Reading

News Feed

RIP Oke: Barely 3hours After Tweeting “Nigeria Will Not End Me” #EndSARS Protester Dies From Gunshot

Published

on

RIP Oke: Barely 3hours After Tweeting “Nigeria Will Not End Me” #EndSARS Protester Dies From Gunshot

A young Twitter user called Oke who tweeted around 1:54 PM saying “Nigeria will not end me” has been shot by the Nigerian police force.

His demise has sparked reactions on the microblogging platform as Nigerians mourn the fearless youth.

https://twitter.com/meksclint/status/1318951129250758656?s=20

Here are some reactions from Nigerians;

Continue Reading

News Feed

Biafra: Nnamdi Kanu Explodes Over #LekkiMassacre Of #EndSARS Protesters

Published

on

Biafra: Nnamdi Kanu Explodes Over #LekkiMassacre Of #EndSARS Protesters

The leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, has condemned the attack on peaceful #EndSARS protesters at Lekki toll gate in Lagos, Nigeria’s commercial city.

It was reported earlier that soldiers of the Nigerian Army invaded a peaceful protest at Lekki toll gate on Tuesday evening.

Reacting to the attack on the peaceful protesters in Lagos in a tweet, Kanu, a director of Radio Biafra, said it is “shocking that Southern Nigerians are tolerating a Northern Muslim” President Muhammadu Buhari “using the Army to kill unarmed Southern #EndSARS protesters in Lagos” on a “Southern soil”.

The apparently furious IPOB leader wondered if “Southern Christian President” would ever “contemplate killing unarmed Northern Muslim protesters in Kano”, northern Nigeria.

Kanu tweeted: It’s shocking that Southern Nigerians are tolerating a Northern Muslim @NGRPresident using the Army to KILL unarmed Southern #EndSARS protesters in Lagos, a Southern soil? Would a Southern Christian President ever contemplate killing unarmed Northern Muslim protesters in KANO?”

Continue Reading

Trending