Headlines
CBN to stop sale of foreign exchange to banks by end of 2022
By Matthew Eloyi
The Central Bank of Nigeria (CBN) has disclosed that it would stop the sale of foreign exchange to banks by the end of 2022.
The CBN Governor, Godwin Emefiele, disclosed this at a briefing during the launch of the bank’s new forex repatriation scheme, RT200, held after the Banker’s Committee meeting on Thursday, in Abuja.
He said the banks must begin to source their forex from export proceeds.
In his words, “The era is coming to an end when, because your customers need 100million dollars in foreign exchange or 200 million dollars, you now want to pack all the dollars and pass it to CBN to give you dollars.
“It is coming to an end before or by the end of this year. We will tell them don’t come to the Central Bank for foreign exchange again go and generate your export proceeds.
“When those export proceeds come, we will fund them at 5% for you and they will earn rebate. Then you can sell those proceeds to your customers that want 100 million dollars. But to say you will continue to come to the Central Bank to give you dollars, we will stop it.”
According to Emefiele, the decision is in line with the CBN’s new commitment to boost the country’s foreign reserves through proceeds from non-oil exports.
“Nigeria cannot continue to depend on FX earnings to fund its import obligations from revenue coming from earnings from products where we cannot determine both price and quantity,” he added.
Headlines
Tinubu commiserates with Makinde over brother’s death
President Bola Tinubu has commiserated with Gov. Seyi Makinde, his family and the people of Oyo State, over the death of his elder brother, Sunday Makinde.
The president, in a condolence message issued on Monday, said that the loss of a loved one, especially a cherished elder brother, is a profound sorrow.
“In this time of mourning, I want you to know that I, along with many others, stand with you and your family.
“We pray for strength and comfort as you navigate this irreplaceable loss. I hope you find comfort in the memories you shared and the impact he had on those around him.
“This moment reminds us of the importance of family, unity and love—values that your family has always exemplified and that we all hold dear.
“May these values strengthen you and your loved ones in this time of grief,” he said.
Tinubu prayed for the peaceful repose of the deceased’s soul and for the Almighty to grant the governor and his family the strength to navigate this challenging time.
“Please know that my thoughts and prayers are with you and that you are not alone in this period.
“You can count on my unwavering support and assistance during this difficult time,” the president said.
Headlines
FG begins recruitment into federal civil service
The Federal Government, through the Federal Civil Service Commission, has announced the commencement of recruitment into various positions within the Federal Civil Service.
In a statement on Monday by the FCSC’s Head of Press and Public Relations, Taiwo Hassan, he disclosed that interested and eligible Nigerians can apply for the available positions through the commission’s official recruitment portal.
He stated that applicants are to apply for only one position.
The statement read, “The Federal Civil Service Commission is receiving applications for various vacancies in the Federal Civil Service. The vacancy announcement is published on the commission’s website: www.fedcivilservice.gov.ng and in national newspapers.
“Eligible applicants are to apply for only one position via the application link: https://recruitment.fedcivilservice.gov.ng. Applicants who are physically challenged should state the nature of their disability.
“Applicants are to upload the following documents as applicable: I) Curriculum Vitae, II) Ph.D/Master’s Degree Certificate, III) Degree/HND/NCE Certificate, IV) WAEC/NECO/NABTEB Certificate, V) Primary School Certificate, VI) NYSC discharge/exemption/exclusion certificate, VII) Birth Certificate/Declaration of Age, VIII) Local Government Identification, IX) Recent Passport photograph.
“All applications are to be submitted on or before Monday, 10th March, 2025.”
Headlines
Navy nabs 2 over suspected petrol theft in A’Ibom
The Nigerian Navy, Forward Operating Base, Ibaka in Mbo Local Government Area, Akwa Ibom, has apprehended two persons over alleged theft of 2,100 liters of premium motor spirit.
The Commanding Officer, Capt. Aliyu Abdullahi disclosed this while handing over the suspects and items to the Nigeria Security and Civil Defence Corps, (NSCDC) in Ibaka on Monday.
Abdullahi said that navy personnel apprehended the suspects at about 7.45p.m on Jan. 24, while on a routine patrol along the Mbo River area.
He said that during the patrol, naval personnel intercepted a wooden boat carrying over 2,100 Liters of petrol, carefully concealed under cargos such as bread, fruits and bags of cassava flakes among others.
He said that the intention of the suspects was to smuggle the product from Nigeria into the Republic of Cameroun.
The commanding officer said that under the watch of the Chief of Naval Staff, Vice Adm. Emmanuel Ogalla, the FOB IBAKA would remain committed to fighting waterway crime.
Abdullahi said it would be impossible for maritime crimes to continue in the waterways and coastal areas of Akwa Ibom.
“We shall continue to detect criminals and their activities within the nation’s waterways through the use of advanced surveillance equipment and intelligence.
“Individuals or groups involved in smuggling or any form of criminal activity within Nigeria’s waters should desist immediately,” he said.
Receiving the suspects and Items, ASC Willie Emediong, said that the NSCDC would prosecute the suspects after thorough investigations on the matter.
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