ANAMBRA TO GO AFTER HOUSES WITHOUT PROPER DRAINAGE IN ORDER TO COMBAT EROSION . (PHOTO).

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 Anambra to go after houses without proper drainage in order to combat Erosion  Worried by the rising menace of gully erosion, the Anambra State Government has threatened to enforce regulations requiring residents to provide proper drainage for storm water from their homes. The State Executive Council (ANSEC), which announced the proposed enforcement, lamented that erosion remains an existential challenge in Anambra, blaming the situation on careless actions by some communities and lapses by regulatory bodies in enforcing environmental laws. Briefing journalists after the weekly executive council meeting, the Commissioner for Information, Dr. Law Mefor, said it had been observed that some residents channel storm water from their homes directly onto roads, where it accumulates and worsens the erosion crisis across the state. “ANSEC has resolved to step up enforcement to compel residents to properly channel and manage storm water from their houses. Communities are also expected ...
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CBN DENIES SELLING FX AT N1, 301/$ TO BDCs. (PHOTO).

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 CBN denies selling FX at N1,301/$ to BDCs


The Central Bank of Nigeria (CBN) has dismissed claims that it is selling foreign exchange (FX) to eligible Bureau de Change (BDC) operators at N1,301 per dollar.


In a statement posted on X on Tuesday, the CBN clarified that a widely circulated document suggesting such a transaction did not originate from the bank.


The fake circular claimed that BDCs were permitted to sell FX to eligible end-users at a margin of no more than 1% above the purchase rate from the CBN. It further alleged that the CBN had implemented measures to address exchange rate distortions and approved the sale of $20,000 to each BDC at the rate of N1,301 per dollar.


“Following ongoing reforms in the foreign exchange market to achieve an appropriate market-determined exchange rate for the Naira, the Central Bank of Nigeria (CBN) has observed continued price distortions at the retail end of the market, feeding into the parallel market and widening the exchange rate premium,” the fraudulent document stated.


The fake circular also detailed instructions for BDCs, including making Naira payments to designated CBN Foreign Currency Deposit Accounts and submitting necessary documentation at specific CBN branches in Abuja, Awka, Lagos, and Kano.


However, the CBN has categorically denied these claims, describing the information as false and unaffiliated with the bank.


It is worth noting that on September 6, 2024, the CBN approved the sale of dollars to BDC operators at a rate of N1,580 per dollar.

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