PRINCE HARRY LEAVES AFRICAN PARKS BOARD AFTER CHARITY ADMITTED RANGERS COMMITTED HUMAN RIGHTS ABUSES. (PHOTO).

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 Prince Harry leaves African Parks board after charity admitted rangers committed human rights abuses Prince Harry has left the board of African Parks after nearly a decade with the conservation charity, a year after the organization acknowledged that some of its rangers had committed human rights abuses. A spokesperson for Harry, 41, confirmed his departure while emphasizing that his work in African conservation will continue. “The Duke is proud of his 10 years with African Parks and fully supports the ongoing strengthening of its Board,” the spokesperson said. “His commitment to conservation in Africa continues, and he remains a supporter of African Parks’ mission.” Harry first partnered with African Parks in 2016 and became president of the organization the following year. He was appointed to its board of directors in 2023. His departure comes after African Parks commissioned an independent investigation into allegations that rangers had r@ped, beaten and tortured Indigenous peo...
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AIRLINES, OTHERS TO GET FOREX BACKLOG. (PHOTO).

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Airlines, others to get forex backlog

Foreign airlines and other business owners have been told to meet their banks to clear the foreign exchange (FX) forwards backlog.
A senior Central Bank of Nigeria (CBN) official confirmed the directive from the apex bank yesterday.
The official said the CBN will settle the remaining FX forwards backlog this week, added that 14 banks, including Stanbic IBTC, Keystone and Citi bank had their FX forwards contract settled last week.
The CBN official said the apex bank will not deal directly with any airline or other businesses except through their banks.
With the CBN steadily addressing the FX backlog, there are indications that a portion, if not the entirety, of the $10 billion, as mentioned by the finance minister, earmarked for offsetting these backlogs, may have already been received.
FX forwards involve the buying and selling of currencies at a prearranged price on a future date.
This allows a buyer and seller to enter into an agreement to exchange forex at a specified rate, different from the prevailing market rate on a future date, thereby providing a hedge against market volatility.
The official noted that the CBN will be settling the remaining FX forwards backlog this week.
The apex bank’s move is a positive development for the Nigerian economy, the FX market, the value of the naira, and the country’s gross external reserves.
It is also expected to improve Nigeria’s credit ratings from international rating agencies and boost foreign investor confidence in the CBN.
The FX backlog led to the downgrading of Nigeria’s status by rating companies in the business community.
One of the rating agencies – Morgan Stanley Capital International (MSCi) – spoke of plans to reclassify Nigeria’s indexes from frontier to ‘Standalone’ status by February 2024. It hinged the plan on the unsettled forex.

 

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