NAFDAC REOPENS ONITSHA DRUG MARKET AFTER MONTH-LONG CLOSURE. (PHOTOS)

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 NAFDAC Reopens Onitsha Drug Market After Month-Long Closure The National Agency for Food and Drug Administration and Control (NAFDAC) has reopened the Onitsha Head Bridge drug market, popularly known as 'Ogbo Ogwu', after a month-long closure for sanitization and regulatory enforcement. The market was shut down as part of NAFDAC's nationwide clampdown on fake and substandard medicines. To prevent a recurrence of the issues that led to the closure, NAFDAC has implemented strict administrative conditions for reopening. Shop owners are required to complete documentation and clearance procedures before their shops can be unsealed. A dedicated NAFDAC desk has been established to facilitate the process efficiently, ensuring compliance with regulatory standards.Ā² According to NAFDAC Director-General, Prof. Mojisola Adeyeye, only shops that meet the conditions will be allowed to resume operations. Shop owners have been directed to obtain and sign an undertaking, along with a penal...

FX CRISIS: TRAVEL ALLOWANCES BY CASH NO LONGER PERMITTED- CBN. (PHOTO)


 FX Crisis: Travel Allowances By Cash No Longer Permitted ā€” CBN


In a move to solve the foreign exchange crisis in the country, the Central Bank of Nigeria (CBN) says Personal and Basic Travel Allowances will only be paid through electronic channels and not by cash.


The Director of Trade and Exchange Department at the apex bank, Hassan Mahmud, made this known in a circular dated February 14, 2024.


The circular titled, ā€˜Allowable Channels For Payout Of Personal Travel Allowance (PTA) And Business Travel Allowance (BTA)ā€™.


ā€œMemorandum 8 of the Foreign Exchange manual and the circular with reference FMD/DIR/CIR/GEN/08/003 dated February 20, 2017, stipulate the eligibility criteria for accessing Personal and Business Travel allowances (PTA/BTA),ā€ the circular partly read.


ā€œIn line with the Bankā€™s commitment to ensure transparency and stability in the foreign exchange market and avoid foreign exchange malpractices, All Authorised Dealer Banks shall henceforth effect payout of PTA/BTA through electronic channels only. including debit or credit cards.ā€


The CBN directed all authorised dealers and the general public to note and comply accordingly.

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