NDLEA DISMANTLES ABUJA DRUG BUNKS, ARRESTS 132, RECOVERS 220KG ILLICIT SUBSTANCES. (PHOTOS). #PRESS RELEASE.

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 NDLEA dismantles Abuja drug bunks, arrests 132, recovers 220kg illicit substances  -Marwa hails operation, vows to sustain crackdown in FCT, other states  In a non-stop two-week offensive action against traffickers and dealers, operatives of the National Drug Law Enforcement Agency (NDLEA) have successfully dismantled several drug joints and bunks within and around the Federal Capital Territory (FCT) Abuja where a total of 132 suspects were arrested and 220 kilograms of assorted illicit substances recovered. The wel-coordinated raids jointly conducted by the Agency's Directorate of Operations and General Investigation (DOGI) and the FCT Strategic Command from llth to 25th April 2026 were launched to dismantle illicit drug hubs contributing to substance abuse, trafficking, and associated criminal activities in the capital city after weeks of intelligence and surveillance across all identified hotspots. Areas where notorious drug joints were raided, dismantled and suspects...
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DOLLAR SHORTAGE: BANKS SLASH TRAVEL ALLOWANCE, FOREIGN SCHOOL FEES.(PHOTO).

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Dollar shortage: Banks slash travel allowance, foreign school fees


15 March 2023

 

Deposit Money Banks have slashed the amount of Personal Travel Allowance and schools fees their customers can apply for amid a worsening foreign exchange crisis.


Shortage of FX in the country has forced lenders to take drastic measures to meet their dollar obligations in recent times.


In an emailed letter to customers, some DMBs on Tuesday slashed the amount of PTA their customers can apply for from $4,000 to $2,000.


Also, lenders cut overseas school fees payment from $15,000 to $7,500 per semester.


One of the lenders, First Bank of Nigeria Limited advised its customers to also make their various FX requests several weeks ahead of time.


The bulk email by the lender was titled, ‘Important update on FX purchase.’


The bank also stated that the requests could be made only twice in a year.


It advised the customers to make their application weeks ahead of their trip.


The mail read in part, “At FirstBank, we value you and are committed to keeping you informed on changes regarding foreign currency (Form A) requests. In view of the limited FX supply in the industry, kindly note the following:


“Payment of PTA/BTA is subject to a maximum of $2,000 and two quarters in a year, while funds will be disbursed within the week of the trip. Customers are encouraged to apply for PTA/BTA some weeks ahead of their trip.”


It added that, “Application for upkeep is subject to a maximum of $1,500 (or its equivalent in other currencies) per semester and limited to two semesters per session.


“Payment of school fees is subject to a maximum of $7,500 (or its equivalent in other currencies) per semester and limited to two semesters per session. A minimum of 16 weeks is required for processing school fees and upkeep/maintenance, after the submission of documents along with the approved Form A at the branch.”


According to the email, application for Form A for school fees, student upkeep and PTA/BTA, must be processed on the Central Bank of Nigeria’s Trade Monitoring System and must be in line with regulatory requirements.


It added, “Requests will continue to be treated on a first come, first served basis, subject to availability of FX. Ensure that your account is sufficiently funded.”


Economic and financial analysts have advised the CBN to devalue the local currency with a view to bridging the gap between the official and parallel market rate of the naira. 

 

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