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Central Bank Of Nigeria Denies Plans For New Naira Policy To Crash Dollar Exchange Rate
Central Bank Of Nigeria Denies Plans For New Naira Policy To Crash Dollar Exchange Rate....KINDLY READ THE FULL STORY HERE▶
The Central Bank of Nigeria (CBN) has refuted claims of its intention to implement a new naira policy aimed at devaluing the dollar exchange rate to N1.25 kobo.
A report circulated online on Wednesday had suggested that the CBN was contemplating a new foreign exchange (FX) policy scheduled for November 2023. This alleged policy was purported to enhance the stabilization of inflation expectations and facilitate smoother conversion into other major currencies.
The report also indicated that the policy was designed to counteract currency substitution tendencies and remove higher denomination notes with diminished purchasing power.
However, the CBN promptly responded to this report via its official communication channel, categorizing it as false and urging the public to disregard it.
As of Tuesday, the exchange rate stood at N742.10 to the dollar in the investors’ and exporters’ (I&E) window, which represents Nigeria’s official FX market.
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Candid Assessment: Senator Orji Uzor Kalu has suggested that political figures often present an inaccurate picture of Nigeria’s economic and security conditions to President Bola Tinubu.....KINDLY READ THE FULL STORY HERE▶
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Role of Clerics: Praising the Catholic bishops as the national conscience, the lawmaker noted that their counsel remains vital because they deliver unvarnished truths that politicians may withhold.
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National Hardships: While acknowledging the genuine difficulties currently faced by citizens, Kalu defended the administration’s trajectory and expressed strong support for the bishops’ engagement with the presidency.
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Professor Segun Aina, a computer engineering scholar, has officially stepped into his role as the new Registrar for the Joint Admissions and Matriculation Board (JAMB).....KINDLY READ THE FULL STORY HERE▶
Taking over leadership at the JAMB headquarters in Bwari, Abuja, Aina succeeds Professor Ishaq Oloyede, whose 10-year, two-term tenure concluded on July 31, 2026. Initially approved by President Bola Tinubu on May 21 when Aina was 39, this appointment marks him as the youngest individual ever to lead the examination body.
When the appointment was first announced, Bayo Onanuga, the Special Adviser to the President on Information and Strategy, highlighted Aina’s deep background in digital infrastructure, public-sector reforms, and national examination systems, noting his historic milestone as one of Nigeria’s youngest computer engineering professors.
In his inaugural address, Aina acknowledged the foundation laid by his predecessor—who is widely credited with modernizing the Unified Tertiary Matriculation Examination (UTME)—and vowed to expand on those achievements. Emphasizing a strong stance against malpractice, he warned wrongdoers that their illicit activities have no place at JAMB, promising to ramp up modern technological investments and deepen partnerships with security agencies to safeguard the integrity of the admissions process.
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TERROR IN OYO: Governor Makinde Launches Full-Scale Investigation Into Shocking School Kidnapping!.
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The Commission: Oyo State Governor Seyi Makinde established a Judicial Commission of Inquiry to probe the kidnapping of students and teachers from the Esinele and Yawota communities in the Oriire Local Government Area.....KINDLY READ THE FULL STORY HERE▶
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