GOV. SANWO-OLU CLEARS N68BN PENSION. (PHOTO).

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 Sanwo-Olu clears N68bn pension   The Lagos State Government under Gov. Babajide Sanwo-Olu has cleared N68.5 billion pension arrears for retirees in the state public servant. The Head of Service Lagos State,(HoS) Mr Bode Agoro, disclosed this on Tuesday in Lagos. Agoro spoke at a public sensitisations on Contributory Pension Scheme (CPS) for public servants in the state, organised by Lagos State Pension Commission (LASPEC). The HoS hailed Sanwo-Olu for his continuous efforts in ensuring that the senior citizens receive their retirement benefits immediately they exit the service. He also commended the governor for placing premium on the well-being of the public servants, as well as the retirees. He said the CPS, which was passed into law on  March 19, 2007 in Lagos, was to provide a sustainable retirement plan that ensures financial security upon staff retirement from active service. “Since its introduction, a lot of government policies have been made to strengthen the Nigerian pension
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NAIRA APPRECIATES MASSIVELY AGAINST DOLLAR AA FX SUPPLY RISE. (PHOTO).

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 Naira appreciates massively against dollar as FX supply rise


The naira appreciated significantly against the dollar at the foreign exchange market as FX supply increased on Tuesday.


FMDQ data showed that the naira gained to N1561.76 against the dollar on Tuesday from N1635.15 exchanged on Monday. This represents an N73.39 appreciation.


Meanwhile, the naira fell further against the dollar at the black market to N1780 per dollar on Tuesday.


The foreign currency transaction turnover increased to $253.68 million on Tuesday. $126.24 million traded on Monday, according to FMDQ data.


The last time the naira appreciated at the official foreign exchange market was last Friday when it stood at N1631.21 per dollar.


Fluctuations in the FX market have been a recurring decimal despite the interventions of the Central Bank of Nigeria in the past months.

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