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CBN To Cease Providing Ways And Means Advances To FG, Says Cardoso

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CBN To Cease Providing Ways And Means Advances To FG, Says Cardoso....KINDLY READ THE FULL STORY HERE▶

Dr. Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), has announced the cessation of Ways and Means advances to the Federal Government until previous loans are settled……..CONTINUE READING

 

 

 

 

 

 

 

Cardoso emphasized that this decision is part of the measures implemented by the apex bank to address the current economic challenges facing the nation.

Ways and Means refer to funds lent by the CBN to the Federal Government temporarily to supplement spending until revenue is generated.

Speaking during a meeting with the Senate Committees on Finance, Appropriations, Banking, Insurance, and Other Financial Institutions, Cardoso underscored the need for monetary policy tightening to counter inflationary pressures.

He highlighted the increase in money supply over nine months and attributed it to factors like heightened Net Foreign Asset following exchange rate harmonization and previous Ways and Means advances.

Furthermore, Cardoso praised efforts to discontinue Ways and Means advances in compliance with the CBN Act (2007), which limits such advances to five percent of the previous year’s revenue.

He also mentioned the cessation of quasi-fiscal measures totaling over N10tn, previously undertaken by the CBN, which contributed to excess liquidity and inflation.

In collaboration with fiscal authorities, the CBN aims to stabilize prices, potentially leading to reduced policy rates, increased investment, and job creation.

Cardoso assured that these measures are yielding positive results in alleviating economic challenges and emphasized the importance of sustainable demand moderation for foreign exchange.

He outlined comprehensive strategies to enhance liquidity in the foreign exchange markets, including unifying FX market segments and enforcing operational mechanisms for Bureau De Change operators and International Money Transfer Operators.

Regarding inflation, Cardoso projected a decline to 21.4% in 2024, facilitated by the CBN’s inflation-targeting policy and improved agricultural productivity.

In conclusion, Cardoso called for collective efforts to stabilize the exchange rate, emphasizing the role of both the CBN and stakeholders in reducing the demand for foreign exchange.

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UNICEF Breaks Silence! The Truth Behind The Viral Photos Of Messi And Baby Lamine Yamal!.

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UNICEF has officially authenticated the viral images of Lionel Messi bathing an infant Lamine Yamal, confirming they are not digitally altered.....KINDLY READ THE FULL STORY HERE▶

  • Origin: The images were captured over 18 years ago by Spanish photographer Joan Monfort during a UNICEF charity calendar photoshoot intended to raise funds.

  • Participants: The shoot featured a young Lionel Messi, the infant Lamine Yamal, and Yamal’s mother, Sheila.

  • Clarification: UNICEF addressed public skepticism and rumors of image manipulation by explicitly confirming the authenticity of the photos on their platform.

  • Current Roles: Both Messi and Yamal now serve as UNICEF Goodwill Ambassadors, utilizing their respective platforms to advocate for children’s rights globally.

  • Symbolism: Many fans view the resurfaced images as a symbolic “passing of the torch” between two football generations, a sentiment highlighted as Messi’s Argentina prepares to face Yamal’s Spain in an upcoming FIFA World Cup match.

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Ambassadorial Nomination Under Fire: Frank Tie Tie Exposes ‘Mistake’ Regarding Ex-FUOYE VC Fasina!.

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Human rights lawyer Frank Tietie has criticized the nomination and subsequent confirmation of Professor Abayomi Fasina, the former Vice-Chancellor of the Federal University, Oye-Ekiti, as a non-career ambassador designate.....KINDLY READ THE FULL STORY HERE▶

  • Prior to his confirmation, a coalition of civil society organizations protested at the National Assembly on July 7, 2026, opposing Fasina’s nomination due to pending court cases involving allegations of sexual harassment, human rights violations, and victimization.

  • Despite these protests, the Nigerian Senate officially confirmed Fasina’s appointment as a non-career ambassador on Thursday.

Frank Tietie’s Position

  • During an interview on ARISE Television, Tietie argued that nominating an individual with such “baggage” was a mistake, emphasizing that ambassadors represent Nigeria in the same capacity as the President.

  • Tietie stated that the government should have sent the “right signals” by avoiding such controversial appointments, especially given the current state of governance.

  • He argued that even in the absence of a final court judgment, the allegations themselves have “tainted” Fasina’s reputation, and the Senate should have delayed the confirmation until the legal matters were resolved.

  • Tietie also suggested that the National Assembly’s decision overlooks significant social changes regarding how such allegations are now viewed by society.

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“They Want Me Gone!” Peter Obi Speaks Out Amidst Mounting Assassination Fears!.

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Peter Obi, the 2027 presidential candidate for the Nigeria Democratic Congress (NDC), has publicly claimed that there was an orchestrated plan to assassinate him in April 2025 during a scheduled humanitarian trip to Benue State. He detailed these allegations during a high-level roundtable discussion in Berlin, Germany.....KINDLY READ THE FULL STORY HERE▶

  • The Venue: Obi made the disclosure while participating in the “Nigeria in 2027 and Beyond” roundtable, an event organized by the European Council on Foreign Relations (ECFR) in Berlin.

  • The Benue Incident: The former Anambra State governor explained that his planned outreach in Benue State was initially halted after the state government issued a cautionary directive advising him against making the trip.

  • The Attack: Obi claimed that a shootout actually occurred when he attempted to visit the location, confirming his fears of an active plot against his life.

  • Frustration Over Skepticism: Expressing deep disappointment over the state government’s handling of the situation and the public’s doubt regarding his safety, Obi challenged the skepticism. He emphatically asked, “What else do you need? Do you need somebody to die before you believe it? There was already a shootout when I tried to visit the place. Once they said, ‘Don’t come here.’ What else do you want me to tell you about the attempt on my life.”

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