CBN Sells $20,000 To Each BDC At ₦1,590/$
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The Central Bank of Nigeria (CBN) has announced the sale of $20,000 to each of the eligible Bureau De Change (BDC) operators in the country at the rate of N1,590/$.CONTINUE FULL READING>>>>>
In a circular to all Bureau De Change operators dated September 25, 2024, the apex bank said the forex would provide “additional liquidity to this segment of the foreign exchange market”.
The circular was signed by CBN’s Acting Director of Trade and Exchange Department, W.J. Kanya.
Kanya said, “To this end, the CBN has approved the sale of $20,000 to each eligible BDC at the rate of N1,590/$. This is to meet the demand for invisible transactions.
All BDCs are allowed to sell to eligible end-users at a margin of not more than one percent above the purchase rate from CBN.
Eligible BDCs interested in this transaction are directed to make the naira payment to the CBN deposit account numbers with them.
“Also, payment confirmation and all necessary documentation for disbursement are to be submitted at the appropriate CBN branches in Abuja, Akwa, Kano and Lagos for collection of the $20,000.”
Tinubu To Reshuffle Cabinet, Says Presidency
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The Special Adviser to the President on Information and Strategy, Bayo Onanuga, confirmed this to State House correspondents on Wednesday at the Presidential Villa, Abuja.
He noted that contrary to insinuations in some quarters, the current government has recorded significant achievements in its quest to transform the economy, of which members of the public are unaware.
Onanuga noted that Tinubu has ordered his ministers to ensure they engage the public by publicising what the government is doing in their various ministries.
He said, “I don’t have any timeline. The President has expressed his desire to reshuffle his cabinet and will do it. I don’t know whether he wants to do it before October 1, but he will surely do it.”
Explaining further the reason for Tinubu’s decision, the Senior Special Assistant to the President on Digital Strategy Engagement and Communications, O’tega Ogra, said it is based on empirical evidence.
Ogra noted that during the retreat that was organised for the ministers shortly after their inauguration in August 2023, Tinubu made it clear that there would be periodic reviews of their performance and that the review would guide the President’s decision.
Sterling Scores First Arsenal Goal In League Cup Romp, Liverpool Smash West Ham
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Raheem Sterling scored his first Arsenal goal and Jack Porter became the club’s youngest-ever starter in a 5-1 rout of Bolton in the League Cup on Wednesday, while Liverpool reached the last 16 with a 5-1 win against troubled West Ham.
Sterling marked his maiden Arsenal start following his transfer deadline day move from Chelsea with a second-half strike in the third-round tie at the Emirates Stadium.
The 29-year-old will hope his goal marks the start of a career revival after a disappointing two-year spell at Chelsea.
Gunners boss Mikel Arteta had made seven changes from Sunday’s stormy 2-2 draw at Premier League champions Manchester City, including giving goalkeeper Porter his record-breaking debut in place of the injured David Raya.
Aged 16 years and 72 days old, Porter was the youngest player ever to start for Arsenal, surpassing the previous record holder Cesc Fabregas, who was 16 years and 177 days when he played against Rotherham in 2003.
Porter was Arsenal’s second youngest ever player overall after Ethan Nwaneri, who was 15 years and 181 days, when he made his debut in 2022.
Declan Rice put Arsenal ahead in north London after 16 minutes with a clinical finish from the edge of the area for his first goal this season.
Arsenal’s English midfielder #63 Ethan Nwaneri celebrates scoring the team’s second goal during the English League Cup third round football match between Arsenal and Bolton Wanderers’ at the Emirates Stadium, in London on September 25, 2024. (Photo by Adrian Dennis / AFP)
Fittingly on Porter’s record-setting day, it was Nwaneri who doubled Arsenal’s lead in the 37th minute with his first goal for the club.
The 17-year-old forward celebrated his first Arsenal start with a close-range finish from Sterling’s cross.
Nwaneri struck again four minutes after half-time with a composed strike from 12 yards.
Porter had to pick the ball out of the net for the first time in his Arsenal career in the 53rd minute when Aaron Collins jinked around him and slotted into the empty net.
Sterling netted in the 64th minute, tapping in after Saka’s cross was spilled by Bolton keeper Luke Southwood, and Kai Havertz grabbed the fifth from close range in the 78th minute.
It’s Unrealistic For Two Million Security Personnel To Secure Nigeria – Lagbaja
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The Chief of Army Staff, Lieutenant General Taoreed Lagbaja, has expressed the need for every citizen to get involved in the security of lives and properties in the country and not leave it only to the security agencies.
Lagbaja said this while delivering the 2024 distinguished personality lecture titled, “The Roles and Contributions of the Nigerian Army to National Development”, organized by the Centre for Peace and Strategic Studies, University of Ilorin.
Represented by the Chief of Training (Army), Major General Sanni Gambo Mohammed, the COAS said that it is unrealistic for security personnel of around 2 million to secure the entire Nigerian population of over 200 million.
“There is an erroneous belief that security is to be provided and ensured without interruption only and exclusively by the security agencies, particularly Nigerian Army wherever deployed,” Gen. Lagbaja said.
This has led to apathy on the part of the public who feel less concerned except when their safety is directly threatened by activities of antisocial elements. The Nigerian Army along with other security agencies is under resourced.
In a country of over 200 million people it is unrealistic for security operatives totalling around 2 million, including an army of just over 100,000 active personnel without a reserve force to secure the entire population.”
The COAS, who said that the Federal Government was committed to recruitment of more hands in the army as promised, stressed that the Nigerian Army, along with other security agencies, is under-resourced.
The Army chief identified four challenges of inadequate funding, inadequate manpower, lack of industrial base and poor understanding of security by Nigerians as factors militating against optimal performance by the service.CONTINUE FULL READING>>>>>
