DUTCH REFEREE ROB DIEPERINK DIES WEEKS AFTER REMOVAL FROM WORLD CUP OFFICIATING LIST. (PHOTO).

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 Dutch referee Rob Dieperink dies weeks after removal from World Cup officiating list Dutch referee Rob Dieperink has died at the age of 38, weeks after FIFA removed him from its list of officials for the World Cup. The Dutch Football Association (KNVB) confirmed his death in a statement, saying it was “shocked and deeply saddened” by the news. His cause of death has not been disclosed. Dieperink was arrested in April by the Metropolitan Police in the United Kingdom following a report of an alleged sexual assault involving a teenage boy in London. A Metropolitan Police spokesperson said officers responded on April 9 to a report of sexual assault at an address in Croydon and arrested a man in his 30s on suspicion of the offence. Police later said that after reviewing available evidence, including CCTV footage and digital devices, the investigation had concluded that “the evidential threshold had not been met” and no further action would be taken. Following the investigation, FIFA co...
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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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