The alleged impression that the Central Bank of Nigeria (CBN) is on the verge of Naira devaluation has been ruled out in a statement issued on Thursday 12th.
This impression triggered panic in the Foreign Exchange Market which led to a lot of speculative activities by unscrupulous players in the foreign exchange market to serve their selfish desires. However, CBN on Thursday expressed displeasure over Naira devaluation.
The statement issued in Abuja states that:
“We have begun a robust and coordinated investigation in collaboration with the Nigerian Financial Intelligence Unit (NFIU) and related agencies to uncover the unscrupulous persons and FX dealers who are creating this panic, and the full weight of our rules and regulations will be meted out to them, including, but not limited to, being charged for economic sabotage.
For nearly four years, the CBN has successfully maintained relative stability in all segments of the foreign exchange market, which has enabled investors, households and other economic agents to plan and to conduct their genuine foreign exchange transactions with relative ease;
The introduction of several foreign exchange management measures side-by-side with complementary interventions in food production and manufacturing has drastically reduced food importation, which hitherto constituted a large chunk of the pressure on the foreign exchange market;
Although the outbreak of the Coronavirus led to global economic slowdown, fall in the price of crude oil, and less inflow of dollars into Nigeria, the associated public health concerns have also led to factory closures in China, substantial drop in imports, widespread travel restrictions around the world, and cancellation of many conferences, sporting events, business travels, and FX orders;
The size of Nigeria’s foreign exchange reserves remains robust and comfortable, given the current realities of Nigeria’s genuine and legitimate FX demand. As such, the CBN remains able and willing to meet all genuine demand for foreign exchange for legitimate transactions; and
For the avoidance of doubt, the CBN is also working with the fiscal authorities to properly and accurately dimension the immediate and expected impacts of the Coronavirus in order to respond comprehensively and at the same time, ensure a sound and stable financial system conducive for job creation and inclusive growth.
In light of current circumstances and macroeconomic fundamentals, the CBN has not devalued the Naira. Consequently, the CBN will invoke the full weight of applicable sanctions on any persons and authorized dealers found to be involved in such disruptive and speculative market behavior.”
The commission says it adopts scientific research methods to gather data, analyze trends in line with the dynamism of the industry and advise government.
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Woman Crashes Ceremony with Kids to Stop her Husband from Getting Married to another Lady
Woman crashes ceremony with kids to stop her husband from getting married to another lady
A video of a woman disrupting the wedding ceremony of her supposed husband has since gone viral.
In the video, the woman is seen storming the ceremony with her children claiming she was still married to the groom.
The woman who is seen carrying a baby on her back, beckons on the other children to come into the ceremony
The video which was shared on Instagram shows the moment a lady disrupted a wedding, claiming to be married to the groom. What was meant to be one of the happiest days in the life of a lady turned out to be pretty embarrassing and devastating when her groom’s huge secret was exposed.
The woman claimed that she was still married to the groom. Sharing her story, she claimed they weren’t divorced, and there was no issue between them.
Regina Daniels, Ned Nwoko spotted having fun as they squash marriage crisis rumour (video) She added that she didn’t know why he should be getting married to another lady while she already had children with him.
the special day for a bride and groom was reported to have erupted in drama after a former lover of the groom stormed the church causing the bride to collapse.
The incident reportedly occurred in Benin City, Edo state. When the groom identified as Dele and his bride, Blessing, decided to tie the knot at the International Pentecostal Holiness Church in Benin City, they would never have foreseen the drama that occurred.
According to reports, the groom’s lover was said to have walked into the church and proceeded to the altar where she grabbed the microphone from the pastor.
US Election 2020: Vice President Mike Pence and Senator Kamala Harris Debate
With less than a month to go before Election Day, the Vice President Mike Pence and Senator Kamala Harris met in Salt Lake City, Utah, for the only vice presidential debate of 2020.
According to CBS Evening News anchored by Norah O’Donnell, It’s unclear how much tonight’s debate will sway voters, many of whom have already cast their ballots.
At least 5.6 million people have already voted in states where early voting has begun.
Ahead of the debate, polls showed Harris is the only candidate at the top of the ticket with a net-positive favorability rating – on average in national polls, more Americans knew her positively than negatively.
Pence’s favorability is lagging – an average of 48% view him unfavorably, and 43% favorably per an average from Real Clear Politics.
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