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President Gwadabe Discusses Naira Depreciation And Foreign Exchange Stability

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President Gwadabe Discusses Naira Depreciation And Foreign Exchange Stability
Dr. Aminu Gwadabe, the National President of the Association of Bureaux De Change of Nigeria (ABCON), shares insights into the recent depreciation of the Naira and proposes solutions for achieving stability in Nigeria’s foreign exchange market in an exclusive interview with DAILY POST’s Correspondent, Ariemu Ogaga. Here are the highlights:....KINDLY READ THE FULL STORY HERE▶

Assessment of Recent Naira Depreciation: Dr. Gwadabe expresses concern over the recent negative trend in the Naira’s value, attributing it to various factors such as speculative behavior, online trading platforms, and demand pressure on the Naira due to buying and selling activities.

Effectiveness of Central Bank Intervention: He acknowledges the efforts of the Central Bank of Nigeria (CBN) in providing interventions to stabilize the Naira, particularly through collaborations with BDCs. However, he highlights the acute liquidity shortage in the retail end market as a significant challenge.

Role of BDCs in Foreign Exchange Policy Transmission: Dr. Gwadabe emphasizes the crucial role of BDCs in the CBN’s foreign exchange policies, citing their suspension in July 2021 as a factor contributing to market volatility. He underscores the importance of collaboration between the CBN and BDCs to address speculation and meet the demands of the retail market.

Response to Allegations Against BDCs: He refutes allegations that BDCs are solely responsible for the Naira’s depreciation, pointing out that they control less than 10% of the market. He calls for a shift in focus towards addressing broader market dynamics and promoting diaspora remittances.

Plans for Harmonizing the FX Market: ABCON plans to digitalize and centralize the retail end forex market to enhance transparency, market intelligence, and regulatory compliance. This initiative aims to combat unregistered trading platforms and promote a unified trading environment.

Assessment of CBN Governor Olayemi Cardoso’s Administration: Dr. Gwadabe commends the professionalism and leadership qualities of Governor Olayemi Cardoso and his team at the CBN. He acknowledges their efforts in instituting market reforms and calls for continued agility and decisiveness.

Short-Term and Long-Term Solutions for Naira Stability: Immediate measures include deeper coordination between fiscal and monetary authorities, amnesty for repatriating funds, and incentivizing diaspora remittances. Long-term solutions involve boosting oil production capacity, diversifying foreign earnings, and empowering youth through job creation and innovation.

Final Message to Nigerians: Dr. Gwadabe urges Nigerians to support efforts to strengthen the Naira by avoiding currency substitution, speculation, and hoarding. He calls for a collective mindset shift towards promoting the Naira’s sovereignty in West Africa.

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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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