Mingooland

Nigeria’s Economy Records Over $1.5 Billion Inflow – CBN

Northern Elders Oppose Mass Transfer Of CBN Staff To Lagos

The Central Bank of Nigeria (CBN) has said that it recorded an inflow of over $1.5 billion into the economy over the past few days.

The Acting Director of the Corporate Communications Department of the apex bank, Sidi Ali, made this known in a statement on Friday.

According to Ali, the CBN said the high inflow indicated that its monetary policy efforts are working positively.

She noted that data available to the bank indicated that the inflow resulted from the bank’s concerted effort to stabilise the foreign exchange market.

Ali said the naira has also continued to record gains in the Autonomous Foreign Exchange market, as it traded at N1,309/$1 as against N1,611/$1 in the second week of March 2024.

She noted that Thursday’s rate signified that the naira was headed in the right direction, assuring that the CBN remained committed to ensuring the stability of the market, and the appropriate pricing of the naira against other major currencies worldwide.

The development comes on the heels of the CBN’s Monetary Policy Committee (MPC) announcement of a two-percent increase in its benchmark rate, from 22.75 per cent to 24.75 per cent on March 26, 2024.

Also, the apex bank conducted the Nigerian Treasury Bills (NTBs) auction of N1.64trn on March 27, 2024, at stop rates of 16.24 per cent, 17 per cent, and 21.124 per cent for the 91-day, 182-day, and 364-day tenors, respectively.

The post Nigeria’s Economy Records Over $1.5 Billion Inflow – CBN appeared first on Naija News.

Follow Proper Channel If You Want To Decamp To APC – Okocha Slams Secondus, Other PDP Leaders In Rivers State

Follow Proper Channel If You Want To Decamp To APC - Okocha Slams Secondus, Other PDP Leaders In Rivers State

The chairman of the All Progressives Congress (APC) caretaker committee in Rivers State, Tony Okocha, has knocked some chieftains of the Peoples Democratic Party (PDP) in the state over their recent declaration of support for President Bola Tinubu and Governor Siminalayi Fubara.

Okocha in a statement on Friday in Abuja, warned the PDP leaders that they can’t join the APC through the backdoor.

His submission comes as a direct reaction to a press conference on Thursday by former national chairman of the Peoples Democratic Party (PDP), Uche Secondus, the former minister of transportation, Abiye Sekibo, former Deputy Speaker, House of Representatives, Austin Opara; Celestine Omehia, former deputy governor of Rivers State, Tele Ikuru; Senator Lee Maeba; and former Secretary to the Rivers State Government, Dr. Gabriel Pidomson, among others who declared their support for Tinubu and Fubara.

But Okocha, in his reaction, questioned their sudden love for President Tinubu, adding that the doors of the APC are open to them for defection, but they must follow the proper channels.

He also faulted their declaration of support for President Tinubu, saying they are the ones giving Governor Fubara the confidence to challenge the resolution of President Tinubu on the political crisis rocking Rivers State.

He also told the PDP leaders to withdraw their suit in court challenging the powers of the President to intervene in the Rivers State crisis if they truly are in support of his government.

According to Okocha, “If the mid-night pseudo lovers of Mr President as shown in the text under critique, now are convinced that President is abundantly fit and proper to preside over Nigeria and that his ten months in office has provided Renewed Hope for an eldorado for Nigerians and choose to recant their hitherto unsavoury and unprintable toxics against President, they should follow the proper channels allowed for porting or decamping to a new party.

“This approach of brow-beating and blackmailing they intend to use is not fashionable at all.

“No sane host tolerates a Guest who attempts to enter his/her house, through the window when the door is open.

“When have they repented and withdrawn their suits in court, challenging the Powers of the President to mediate in the political crisis in Rivers State?

“Have they repented from emboldening Governor Fubara to disrespect Mr. President by refusing to implement all the indices on the 8-point Presidential Proclamation, as panacea to the political crisis in Rivers State, which by their actions, they have continued to fuel?”

On Governor Fubara, Okocha challenged him to conduct local government elections if he truly wants to test his popularity among the people of Rivers State.

“He (Fubura) should go and conduct local government elections if he knows he is popular with the people. He should go and test the waters to see if the crowd they have been carrying are not related. We know he doesn’t have the people.”

Okocha lamented that, “under Governor Fubara “Rivers state is more than drifting to a pariah state, to atrophying into abysmal oblivion, to say the least.”

The post Follow Proper Channel If You Want To Decamp To APC – Okocha Slams Secondus, Other PDP Leaders In Rivers State appeared first on Naija News.