Donald Trump Jr. and Eric Trump attend the meeting between President Donald Trump and European Commission President Ursula von der Leyen at the Trump Turnberry golf course in Turnberry, Scotland Sunday, July 27, 2025. (AP Photo/Jacquelyn Martin)
<p><img width="1000" height="600" src="https://www.naijanews.com/wp-content/uploads/2024/02/IMG_0048-1000x600.jpeg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" srcset="https://www.naijanews.com/wp-content/uploads/2024/02/IMG_0048-1000x600.jpeg 1000w, https://www.naijanews.com/wp-content/uploads/2024/02/IMG_0048-590x354.jpeg 590w, https://www.naijanews.com/wp-content/uploads/2024/02/IMG_0048-400x240.jpeg 400w" sizes="(max-width: 1000px) 100vw, 1000px" /></p>
<h2>President <a href="https://www.naijanews.com/2024/02/15/tinubu-to-meet-state-governors-over-economic-hardship-insecurity/">Bola Ahmed Tinubu</a>, on Wednesday, met with the President of the African Development Bank (AfDB) Group, Dr Akinwumi Adesina.</h2>
<p><strong>Naija News</strong> reports that the president met with the former Minister of Agriculture inside his office at the Presidential Villa in Abuja.</p>
<p>Confirming the visit in a post via his official X handle on Wednesday night, Adesina disclosed that his meeting with President Tinubu was excellent.</p>
<p>The former minister said he and the AfDB group will strongly support President Tinubu, his administration, and Nigeria to achieve success.</p>
<p>He wrote: “<em>It was excellent meeting with H.E. President Bola Ahmed Tinubu @officialABAT today at the State House in Abuja. The African Development Bank Group and I will strongly support him and Nigeria to achieve success. @AfDB_Group.”</em></p>
<p>See photos of the meeting below.</p>
<h2><img class="alignnone size-full wp-image-822596" src="https://www.naijanews.com/wp-content/uploads/2024/02/IMG_0049.jpeg" alt="" width="2048" height="1403" /> <img class="alignnone size-full wp-image-822597" src="https://www.naijanews.com/wp-content/uploads/2024/02/IMG_0047.jpeg" alt="" width="2048" height="1365" /> <img class="alignnone size-full wp-image-822598" src="https://www.naijanews.com/wp-content/uploads/2024/02/IMG_0048.jpeg" alt="" width="2048" height="1397" /></h2>
<h2>Economic Hardship: Tinubu Urged To Embrace Murtala Muhammed’s Policies</h2>
<p>The Murtala Muhammed Foundation (MMF) has <strong><a href="https://www.naijanews.com/2024/02/15/economic-hardship-tinubu-urged-to-embrace-murtala-muhammeds-policies/">urged</a></strong> the Federal Government led by President <a href="https://www.naijanews.com/topic/Bola-Tinubu">Bola Tinubu</a> to consider the policies and initiatives of the late Head of State, Gen. Murtala Muhammed, as a guide for tackling Nigeria’s current socio-economic challenges.</p>
<p><strong>Naija News</strong> reports that this call came as the nation commemorated Muhammed’s legacy on February 13.</p>
<p>The CEO of the Murtala Muhammed Foundation, Dr. Aisha Muhammad-Oyebode, marked the 48th anniversary of Gen. Muhammed’s death by urging the reexamination and adoption of policies from the past administration to confront current Nigerian dilemmas.</p>
<p>The post <a href="https://www.naijanews.com/2024/02/15/president-tinubu-hosts-afdb-president-akinwumi-adesina-in-aso-villa-photos/">President Tinubu Hosts AfDB President, Akinwumi Adesina In Aso Villa (Photos)</a> appeared first on <a href="https://www.naijanews.com">Naija News</a>.</p>
Charred stumps and green saplings in a Swedish forest after a fire. Natascha Kljun, CC BY-ND Even in Earth’s high northern-latitude forest, climate change is…
<p><img width="1000" height="600" src="https://www.naijanews.com/wp-content/uploads/2021/12/naira-Dollar-1-1000x600.jpeg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Western Union, MoneyGram, Others To Pay Nigerians In Naira Instead Of Dollars" decoding="async" fetchpriority="high" srcset="https://www.naijanews.com/wp-content/uploads/2021/12/naira-Dollar-1-1000x600.jpeg 1000w, https://www.naijanews.com/wp-content/uploads/2021/12/naira-Dollar-1-590x354.jpeg 590w, https://www.naijanews.com/wp-content/uploads/2021/12/naira-Dollar-1-400x240.jpeg 400w" sizes="(max-width: 1000px) 100vw, 1000px" /></p>
<h2>In a significant move to stabilize Nigeria's foreign exchange market, National Security Adviser, <a href="https://www.naijanews.com/topic/nuhu-ribadu/">Nuhu Ribadu</a> has issued directives to key security and financial enforcement agencies to intensify actions against forex market speculators.</h2>
<p>The Nigeria Police Force, the Economic and Financial Crimes Commission (EFCC), the Nigeria Customs Service, and the Nigeria Financial Intelligence Unit have been tasked with curbing the activities of domestic and international speculators operating through various channels.</p>
<p>The directive, communicated by Zakari Mijinyawa, the head of strategic communications in the Office of the National Security Adviser, in Abuja on Tuesday, represents a coordinated effort to protect the integrity of Nigeria's foreign exchange market.</p>
<p>Ribadu's intervention comes in response to ongoing challenges in the forex market, where speculative activities have significantly impacted the Central Bank of Nigeria's (CBN) ability to manage the currency's value and foster economic growth.</p>
<p>According to Ribadu, <em>"some individuals and organisations had continued to undermine proactive measures of the CBN to stabilize the foreign exchange market and stimulate economic activities."</em></p>
<p>This situation necessitated the need for a robust response from the security and financial regulatory agencies to ensure that the market operates in a fair and orderly manner.</p>
<p>Ribadu said, <em>“In a concerted effort to safeguard Nigeria’s foreign exchange market and combat speculative activities, the Office of the National Security Adviser (ONSA) and the Central Bank of Nigeria (CBN) are joining forces to address challenges impacting the nation’s economic stability.</em></p>
<p><em>“The CBN’s proactive measures to stabilize the foreign exchange market and stimulate economic activities have been commendable.</em></p>
<p><em>“However, the effectiveness of these initiatives is being undermined by the activities of speculators, both domestic and international, operating through various channels, thereby exacerbating the depreciation of the Nigerian Naira and contributing to inflation and economic instability.</em></p>
<p><em>“Recall that, to address the exchange rate volatility, the CBN initiated a comprehensive strategy to enhance liquidity in the forex market, including unifying FX market segments, clearing outstanding FX obligations, introducing new operational mechanisms for Bureau De Change operators, enforcing the Net Open Position limit for commercial banks, and adjusting the remunerable Standing Deposit Facility cap.</em></p>
<p><em>“To reduce the pressure on the naira, the Economic and Financial Crimes Commission (EFCC) has raised a 7,000-man special task force across its 14 zonal commands to clamp down on dollar racketeers.</em></p>
<p><em>“Yet, recent intelligence reports have highlighted continued illicit activities within the Nigerian foreign exchange market, the ONSA and CBN are therefore embarking on this collaborative approach to tackle these infractions.</em></p>
<p><em>“This partnership will involve a coordinated effort with key law enforcement agencies, including the Nigeria Police Force (NPF), the Economic and Financial Crimes Commission (EFCC), the Nigeria Customs Service and the Nigeria Financial Intelligence Unit (NFIU).</em></p>
<p><em>“The primary objective of this alliance is to systematically identify, thoroughly investigate and appropriately penalize individuals and organizations involved in wrongful activities within the FX market."</em></p>
<p>The NSA said by leveraging the expertise of those four security agencies, the government aimed at deterring what he described as “malicious practices”, to protect investors’ interest and promote sustainable economic growth.</p>
<p>He added, <em>“This joint effort underscores the commitment of the Nigerian government to improving its Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) framework and exiting the grey list of the Financial Action Task Force.</em></p>
<p><em>“In addition, the efforts will make progress in ensuring a stable and transparent foreign exchange market, fostering investor confidence, and advancing the nation’s economic well-being.”</em></p>
<p>The Tinubu administration had liberalised the exchange rate, leading to the freefall of the naira.</p>
<p>The official exchange rate fell from N463.38/$ to over N1,500 to a dollar, while at the parallel market, the naira is now above N1,700 to a dollar.</p>
<p>The post <a href="https://www.naijanews.com/2024/02/20/nsa-orders-clamp-down-on-forex-speculators/">NSA Orders Clamp Down On Forex Speculators</a> appeared first on <a href="https://www.naijanews.com">Naija News</a>.</p>
