LAGOS RE-INTRODUCES MONTHLY ENVIRONMENTAL SANITATION EXERCISE. (PHOTOS). #PRESS RELEASE.

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 LAGOS RE-INTRODUCES MONTHLY ENVIRONMENTAL SANITATION EXERCISE …Governor, Deputy lead State officials to clean up Mushin corridor Lagos State Governor Babajide Sanwo-Olu, on Saturday, announced the re-introduction of the Monthly Environmental Sanitation in the State. The Governor said the exercise will hold every last Saturday of the Month between the hours of 6:30am and 8:30am but without movement restrictions. He stressed that the exercise would be monitored by State officials with appropriate sanctions to be meted out to erring neighbourhoods and markets. Sanwo-Olu made the pronouncement during a ceremony held in Olosa Bus Stop in Mushin which marked the symbolic flag-off of the monthly sanitation. The Governor, who led his Deputy, Dr. Obafemi Hamzat, and member of the State cabinet on the mission, said the culture of environmental responsibility must be imbibed by the residents across all communities in the state and reflect same in their lifestyle. He observed that environment...
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RIBADU ORDERS CLAMP DOWN ON FOREX SPECULATORS AS NAIRA HITS N1, 800 TO A DOLLAR. (PHOTO).

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 Ribadu orders clamp down on forex speculators as naira hits N1,800 to dollar


Nuhu Ribadu, the National Security Adviser, has instructed operatives of the Nigeria Police Force, the Economic and Financial Crimes Commission (EFCC), the Nigeria Customs Service and the Nigeria Financial Intelligence Unit (NFIU), to clamp down on forex market speculators.


Ribadu noted that this is part of effort to safeguard Nigeria’s foreign exchange market and combat the activities of speculators, both domestic and international, operating through various channels.


Ribadu spoke through Zakari Mijinyawa, the head of strategic communications in the Office of the National Security Adviser, in Abuja, on Tuesday.


He maintained that the NSA had to wade in at this time as some individuals and organisations had continued to undermine proactive measures of the CBN to stabilise the foreign exchange market and stimulate economic activities.


“In a concerted effort to safeguard Nigeria’s foreign exchange market and combat speculative activities, the Office of the National Security Adviser (ONSA) and the Central Bank of Nigeria (CBN) are joining forces to address challenges impacting the nation’s economic stability.


“The CBN’s proactive measures to stabilize the foreign exchange market and stimulate economic activities have been commendable.


“However, the effectiveness of these initiatives is being undermined by the activities of speculators, both domestic and international, operating through various channels, thereby exacerbating the depreciation of the Nigerian Naira and contributing to inflation and economic instability.


“Recall that, to address the exchange rate volatility, the CBN initiated a comprehensive strategy to enhance liquidity in the forex market, including unifying FX market segments, clearing outstanding FX obligations, introducing new operational mechanisms for Bureau De Change operators, enforcing the Net Open Position limit for commercial banks, and adjusting the remunerable Standing Deposit Facility cap.

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