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Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele said beneficiaries of diaspora remittances will now be paid in dollars from today, Friday, 4th December, 2020.
Despite an estimated annual diaspora remittance of $24 billion, international money transfer operators (IMTO) have been shortchanging recipients by delivering in local currency and using the hard currency to attack the naira.
The Central Bank of Nigeria (CBN), had announced a new policy initiative, which would help to boost remittance inflows and foster an environment of faster, cheaper, and more convenient flow of remittances back to the country.
Following its new policy that grants unfettered access to forex from Diaspora and other money transfer remittances, the Central Bank of Nigeria (CBN) yesterday directed all banks to close all naira ledger accounts opened for receiving International Monetary Transfer Operators’ (IMTOs’) proceeds.
The Central Bank of Nigeria (CBN) on Wednesday released a new circular clarifying its new rule on receipts of forex inflows from Diaspora remittances.
The Governor of Central Bank, Mr Godwin Emefiele, on Friday expressed optimism that Nigeria could emerge from recession by the first quarter of 2021.
Nigeria has formally entered its second economic recession in five years as the severe impact of the COVID-19 pandemic on global crude oil prices and restrictions imposed to curb the virus caused the nation’s economy to contract for the second consecutive quarter by 3.62 percent in the third quarter of 2020.
The Lagos Chamber of Commerce and Industry (LCCI) says the nation’s economic contraction of 3.62 per cent of the third quarter against the 6.1 per cent of the second quarter of the year may indicate that the worst is over.
The Deputy Governor, Corporate Services Directorate, Mr Edward Adamu, said the demand pressure in the forex market had remained elevated in the face of declining accretion to external reserves and declining private inflow.
A Coalition of elders under the auspices of Nigeria Elders for Peace and Good Governance (CONEPAGG), has accused the Chief of Army Staff, Lieutenant General Tukur Buratai, of raising false alarm about “imaginary” coup to divert the attention of Nigerians from the failings of the Service Chiefs.
The Maritime Workers Union of Nigeria (MWUN) is to embark on a three-day warning strike from Dec. 7, to protest the deplorable state of access roads to seaports in Lagos State.
Napoli has denied reports from Italian media that Nigerian doctors complicated Victor Osimhen’s shoulder during the first treatment. Tuttosport claimed Napoli medic revealed that their Nigerian counterparts caused more damage to the shoulder in the process of treatment before he returned to Italy. However, Napoli and the player on Saturday afternoon took to their social media handle to debunk the reports and clear the Super Eagles team doctor of any wrongdoing. “The current situation regarding the injury of Victor Osimhen is only a consequence of the dislocated right shoulder,” Napoli said in a tweet. Osimhen dislocated his shoulder while in action for Super Eagles of Nigeria last month at the Samuel Ogbemudia Stadium in Benin City. The striker went down in the second under a challenge from a Sierra Leone defender and was subsequently rushed to the hospital in an ambulance. The striker had since returned to his base in Italy but has not featured for Napoli since as a result of the injury
Governor Ifeanyi Okowa of Delta State has told President Muhammadu Buhari to reconstitute the Board of Niger Delta Development Commission, NDDC, holding that instability in the commission’s board has contributed to the systemic institutional failure of the agency.
The Dec. 5, Lagos East Senatorial and Kosofe state Assembly by-elections recorded poor voter turnout as the elections progressed.
A former presidential candidate in the last general elections, Kingsley Moghalu has said President Muhammadu Buhari’s government is not capable of protecting Nigerians.
Nigeria forward Taiwo Awoniyi is considering a permanent move away from Liverpool.
Under the Special Open Apprenticeship Scheme, the National Directorate of Employment (NDE) Katsina State office has commenced the training of 1700 persons drawn from across the 34 local government areas of the state.
Socio-Economic Rights and Accountability Project (SERAP) has asked the Minister of Information and Culture, Mr Lai Mohammed “to probe false posting on the Ministry’s official Twitter handle of court proceedings in a lawsuit against him and the National Broadcasting Commission (NBC).
Rivers United FC goalkeeper Theophilus Affelokhai has revealed that the NPFL side lost their first leg continental game against Futuro Kings due to overconfidence.