IGP DISU PAYS OPERATIONAL VISIT TO AKWA IBOM, PRESIDES OVER PASSING-OUT CEREMONY OF 1,068 RETRAINED CONSTABLES. (PHOTOS). #PRESS RELEASE.

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 IGP DISU PAYS OPERATIONAL VISIT TO  AKWA IBOM, PRESIDES OVER PASSING-OUT CEREMONY OF 1,068 RETRAINED CONSTABLES The Inspector-General of Police, IGP Olatunji Rilwan Disu, psc(+), NPM, today, 30th April 2026, undertook an official visit to Akwa Ibom State, where he paid a courtesy call on the Executive Governor, His Excellency, Pastor Umo Eno, ahead of the passing-out ceremony of retrained Police Constables in Uyo. The engagement with the State Government focused on strengthening institutional collaboration in support of ongoing policing reforms anchored on professionalism, accountability, and intelligence-led operations.  The Inspector-General of Police reaffirmed the commitment of the Nigeria Police Force to building a modern, service-driven institution that prioritizes public trust and operational efficiency. Governor Umo Eno, in his remarks, welcomed the Inspector-General of Police and commended the Nigeria Police Force for its ongoing reforms aimed at improving profe...
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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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