mancoconut:
They killed 4 police men and 2 soldiers, omo the kind weapons wey this guys carry... Those guys looked so well trained and equipped to be just ESN, I fear the East might be dealing with a serious type of radicalism

Do you have the video?

Who is paying for her aides?

Abuja is now mature enough to have a Governor.

Congrat to the PDP

Buhari Government performance in general has been woeful so far

Tokunbo Toyota Camry 2001 that was sold for less than #1m before is now been sold for more than #2m.

heniford2:
This is how it happened three police man killed nobody fuel station man killed nobody was kidnapped unknown gunman 3 police man and the remain 2 flee at Maryland close to timberland T junction

Modify your comment

It does not make sense

Felimax:
I still prefer it a thousand times than sitting in a bus for ever in Lagos as if I m going to heaven.

Lol! Your colleagues that trekked will call you o boy we don reach house.

So painful, I did not get to Port Harcourt on time was wasting all years in Lagos thinking I was going somewhere.

The 3 people that like your comment are extremely dull

We are talking of black soot, you dey talk about Lagos traffic

If only you know the kind of disaster that soot can cause to people lungs eh

What a stupid talk from a Government Official


I do not believe this woman, she needs to be fired for opening her mouth and saying this sort of talk.

She does not have the capability to do her job effectively.

Thank God

Newman20:


Evidence

Return it back as soon as possible

I love nature

When dem go start releasing resukt

Good

Pic?

iamuyiekpen:
It’s no doubt that there’s a need for a central Edoid dialect amongst the Edoid people & those migrated from the Old Benin Empire. Some of these groups include
Bini (Edo),
Ishan (Edo),
Owan (Edo),
Afemai (Edo),
Ososo (Edo),
Warake (Edo),
Sasaru (Edo),
Etsako (Edo),
Uneme (Edo),
Yekhee (Edo),
Ikpeshi (Edo),
Ghuotuo (Edo),
Owan (Edo),
Emani (Edo),
Eruwa (Edo),
Okpamheri (Edo),
Urhobo (Edo & Delta),
Isoko (Delta),
Okpe (Delta),
Ika (Edo & Delta)
Kwale (Delta)
Itsekiri (Edo & Delta),
Akalaka (Rivers),
Degema (Rivers),
Diobu (Rivers),
Ahoada (Rivers),
Uhami (Ondo),
Iyayu/Idoani (Ondo),
Akoko (Ondo),
Epie-Atissa (Bayelsa),
Engenni (Rivers & Bayelsa),
Ebira (Edo & Kogi)
Aduge (Kwara) etc.

A United Edoid Nation will be one of the richest not only in Nigeria but in Africa. Last year our Akalaka brothers from Rivers state visited Benin City & joined the Oba in celebrating the Igue festival. This move further strengthened the ties between the Benin kingdom & our Akalaka brothers.

Itsekiri and Akoko don't speak edoid language

Says banks must begin to source their forex from export proceeds.



The Central Bank of Nigeria (CBN) has indicated that it would discontinue the sale of foreign exchange to Deposit Money Banks (DMB) by the end of the year.

This is as the apex bank has said that the banks must begin to source their forex from export proceeds, hence the need to support the non-oil sector of the economy.

This was made known by the CBN Governor, Godwin Emefiele, while speaking at the special press briefing at the end of 364th Bankers Committee meeting on the launch of the bank’s new forex repatriation scheme ‘RT200 FX Programme’ on Thursday February 10, 2022, at its headquarters in Abuja.


The RT200 FX Programme which stands for the “Race to US$200 billion in FX Repatriation”, is a set of policies, plans and programmes for non-oil exports that will enable Nigeria attain a lofty yet attainable goal of US$200 billion in FX repatriation, exclusively from non-oil exports, over the next 3-5 years. 

Emefiele pointed out that the decision was in line with the apex bank’s new commitment to boost the country’s foreign reserves through proceeds from non-oil exports.


What the CBN Governor is saying about FX supply to banks
[b]Emefiele said, “The era is coming to an end when, because your customers need 100million dollars in foreign exchange or 200 million dollars, you now want to pack all the dollars and pass it to CBN to give you dollars.

“It is coming to an end before or by the end of this year. We will tell them don’t come to the Central Bank for foreign exchange again go and generate your export proceeds.

“When those export proceeds come, we will fund them at 5% for you and they will earn rebait. Then you can sell those proceeds to your customers that want 100 million dollars. But to say you will continue to come to the Central Bank to give you dollars, we will stop it.


“Nigeria cannot continue to depend on FX earnings to fund its import obligations from revenue coming from earnings from products where we cannot determine both price and quantity.’’

Under the RT200 FX programme, which is to take immediate effect, the CBN will provide concessionary and long-term loans for business people who are interested in expanding existing plants, or building new ones for the sole purpose of adding significant value to the non-oil commodities before exporting same.

These loans will have a tenure of 10 years, with a two-year moratorium and an interest rate of 5%.

The CBN boss during the briefing said that the newly introduced programme will have 5 key anchors which includes; Value-Adding Exports Facility, Non-Oil Commodities Expansion Facility, Non-Oil FX Rebate Scheme, Dedicated Non-Oil Export Terminal and Biannual Non-Oil Export Summit.
[/b]
What you should know
The CBN intends that the new RT200 FX Programme will be similar to the Naira4Dollar scheme for diaspora remittances,  which offers recipients of diaspora remittances through CBN’s International Money Transfer Operators to be paid N5 for every $1 received as remittance inflow.
Emefiele during the briefing announced the introduction of the Non-Oil FX Rebate Scheme, a special local currency rebate scheme for non-oil exporters of semi-finished and finished produce who show verifiable evidence of exports proceeds repatriation sold directly into the I&E window to boost liquidity in the market.
Related
CBN unveils “RT200 FX programme” to attract $200 billion in FX repatriation
February 10, 2022
In "Currencies"
CBN explains how diaspora remittances increased from $6 million to $100 million weekly
February 10, 2022
In "Currencies"
We are not stopping sale of FX to banks – CBN official
February 11, 2022
In "Currencies"

Tags: Bankers' Committee meetingNon-Oil FX Rebate SchemeRT200 FX Programme
Chike Olisah
Chike Olisah
For further inquiries about this article, contact: Email: chike.olisah@nairametrics.com Twitter: @ChikeOlisah

Comments 1
Oluseyi Boroffice February 11, 2022 at 5:03 pm
This move will of course lower the current exchange rate.

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Home Markets Currencies
CBN explains how diaspora remittances increased from $6 million to $100 million weekly
Chike Olisah by Chike Olisah February 10, 2022
Nigeria’s forex utilization falls 65% to $4.98 billion in Q1 2021
The Central Bank of Nigeria (CBN) has said that its foreign exchange policies especially the Naira4Dollar scheme has led to significant improvement in diaspora remittances into the country.

The apex bank revealed that diaspora inflow into Nigeria increased from an average of $6 million weekly in December 2020 to an average of more than $100 million weekly by January 2022.

This was disclosed by the CBN Governor, Godwin Emefiele, while speaking at a special press briefing at the end of the Bankers’ Committee meeting, on Thursday, February 10, 2022, at the CBN Headquarters in Abuja.

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What the CBN Government is saying about remittances
Emefiele in his statement noted that diaspora remittances fell significantly in the wake of the Covid-19 pandemic just as the foreign exchange earnings dropped greatly due to slump in exports and crash in oil prices.

He said, “This is understandable because to the extent that COVID-19 led to significant job losses in many advanced economies, diaspora remittances also suffered commensurate reductions in inflows into Nigeria.


“All these factors jointly explain the heightened pressures on the currencies of major emerging market countries, including Nigeria.”

The CBN Governor noted that the lessons that have been learnt from its policies on remittances, which were initiated due to the inadequacy of forex supply and constant pressure on the country’s exchange rate, can be applied in improving some aspects of the foreign exchange inflow into the country.

He listed the 4 major sources of forex inflow into Nigeria to include; Proceeds from oil exports, Proceeds from non-oil exports, Diaspora remittances and Foreign Direct/Portfolio Investments.


What you should know
Recall that the CBN, in a circular to all Deposit Money Banks (DMB) and International Money Transfer Operators (IMTO), in March 2021, introduced a ‘Naira 4 Dollar Scheme’ for diaspora remittances,  which offers recipients of diaspora remittances through CBN’s IMTOs to be paid N5 for every $1 received as remittance inflow.
It was introduced to encourage recipients of dollars to use formal banking channels and help the CBN capture such inflows to boost the liquidity of the forex market and ensure the stability of the Naira, which has been under pressure after the crash of oil prices last year due to the pandemic

https://nairametrics.com/2022/02/11/cbn-to-stop-sale-of-foreign-exchange-to-banks-by-end-of-2022/

I won't blame ASUU

They have really tried a lot for the Buhari Administration

Make TOOAN no gree for them.

Government should be the one in charge of collecting all this dues sef.

RandyOku:


So the BRIDGE should be named after him because he used his PERSONAL MONEY to build it..

Bag of SCUMIC BMC

Did Nnamdi Azikiwe use his money to build the Nnamdi Azikiwe International Airport in Abuja?

Make una try dey reason some of the things una dey talk abeg.

This will put to an end the lies of Jonathan starting the bridge.

Praxtech:

It's slander. Not the first time. The majority are not happy having a Yoruba Christian as VC

Shey nah the majority money dem use build and establish the University? Cause I don't understand why they should be slandering a person image this way

chukwuibuipob:
u have any solution to blood sugar,High blood pressure,, fibroid? Ur location/WhatsApp number

The only solution to High Blood pressure right now is to always use one drug.

So far the person no dey miss his or her drug, no problem.

seanfer:
Tambuwal and Wike trying to see how they can take the NW away from Kwakwanso’s grip. Interesting days ahead.

Kwankwaso is powerless in the PDP as at now

Tambuwal is in charge of the North West PDP.

ToughGuy111:
That is royalty where inheritance work not election.Even so, if the right persons to succeeds to the throne chooses to be christian, nothing wrong unless christians are statutory barred from ruling.That is, where being a muslim is a requiqement to be king.America is a liberal nation so they don't take religion into leadership.

Good! There is numerous reasons why a Muslim will never be the president of the USA too for now, just the way a Christian can't be the president of prime minister of Pakistan for now.

The USA have the largest Christian population in the world.

nony43:






Get your facts right, Obj, Yar Adua, GEJ.

Are you not smart? You said there is peace during Christians reign

And I asked you the kind of peace we were enjoying during OBJ and GEJ tenure, two men who were both Christians abi is Yardua a Christian too?

Age does not matter for me

ToughGuy111:
I'm not deceiving myself and I'm not arguing either.What I'm saying is, it is not a crime for a muslim to be U.S President.And still I say, it is possible for muslims to rule America.

Just the way it is possible for a Christian to become the king of Saudi Arabia

FreeStuffsNG:




Dangote is now 20% owned by FG, priority is first to the local market. Most of you are getting it mixed up because of its location. He is not inside any free trade zone kankan

Are you sure about this?

gawu1:

Are we not practicing democracy anymore?

let us also practice a Federal System of Government where every region will be in charge of their affairs

Then no one will care about where the president come from.

The way Nigeria is structured now, is either power should rotate between the North and South or we should split the country.

We still remember how the likes of Atiku were wailing it was the turn of the North in 2010 and 2011.

ToughGuy111:
Well, you're not God neither am I. Time shall tell. No one could have believe that a woman would be Vice-President of the U.S, but today...Kamala Harris.

Some of you guys just love deceiving unaself

A Muslim candidate can not even get the Republican or Democrat ticket.

There are some things that's not just possible for now.

A Muslim won't become the president of the USA just the way a Christian won't become the president of Pakistan.

CharleyBright:
2023 election go sweet die..
If PDP are very unserious and fighting themselves and APC are planning to field that old drug Baron called Tinubu, then a third force of a Political party can silently creep in and sweep votes.
But by the end of the day, something tells me strongly that Yemi Osibanjo will be the next President

There is no time for a third force again, in fact, It will make the job more easier for the APC.

juman:
Next president MUST be a christian man.
If we love ourselves o.
A muslim as next president, insecurity would escalate.

See how kwara governor dey behave.

How is Kwara Governor behaving? Kwara is far more peaceful than Benue state.

ToughGuy111:
Don't forget that Iranians are mostly religious exremists and Iran is an islamic state.America in the other hand is a liberal nation.America's foundation was built upon Christian principles, but howmany politicians adhere to strict christian principles in their policies, politics, bills and doings? Americans are not dumb.

A Muslim will never become the president of the USA, know this and have peace of mind just the way a Christian won't rule Saudi Arabia.

nony43:
Muslims will not become our President back to back. I don’t care were the next president is coming from. All I want is a Christian President. There is this peace in the word Christianity and there is Violence in the alleged self acclaimed religion of peace.

What a talk

So GEJ and OBJ were both Muslims too

Or you didn't know about the unrest in the Niger Delta during the reign of OBJ and the Boko Haram crisis during the reign of GEJ