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Published 26 May 2021
The Central Bank of Nigeria officially devalued the naira to 410.25/$ after the country’s currency defied all interventions to retain its value.
However, experts have said that the last resort employed by the CBN to adopt the NAFEX Investor & Exporter forex window rate of N410.25 as its official exchange rate to the dollar would lead to inflation and increase the poverty level in the country.
The CBN confirmed the new official rate on its website after it had removed N379/$ earlier in May.
The Punch had recently exclusively reported that the naira officially depreciated to 410/$, quoting the Central Bank Governor, Godwin Emefiele.
Buhari. Photo: TWITTER/NIGERIAGOV The National Assembly of the Federal Republic of Nigeria on Wednesday 19th May,2021 at the House of Representatives and Tuesday 2nd March, 2021 at the Senate made history by passing into law, the Chartered Institute of Forensic and Investigative Professionals of Nigeria Bill, 2021 (SB.615 and HB. 791), after it was read for the Third Time in the both two Chambers (SENATE AND HOUSE OF REPRESENTATIVE). This act is a clear demonstration of the National Assembly patriotism and direct response, targeted at strengthening and re-invigorating national frontiers in the fight against fraud, corruption and cybercrimes, which has eaten deep into the fabric of our nation. With the passage of this Bill, the 9th Assembly under the distinguished and able leadership of His Excellency, Senator Ahmad Ibrahim Lawan, Ph.D, CON and Rt Hon. Femi Gbajabiala have shown clearly, its ardent resolve to carry out its legislative functions in line with the provision of the
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Published 25 May 2021
The Monetary Policy Committee is expected to retain the lending rate after its two-day meeting which ends on Tuesday (today), according experts.
After the last meeting in March, the MPC retained the Monetary Policy Rate at 11.5 per cent.
It also retained the Cash Reserve Ratio and Liquidity Ratio at 27.5 per cent and 30 per cent respectively.
A professor of economics, Babcock University and past President, Chartered Institute of Bankers of Nigeria, Prof. Segun Ajibola, said he expected retention of the rates.
He said, “I expect retention because I have not seen major shift in the fundamentals, the liquidity ratio, the cash reserve ratio, the MPR.
It is with great delight and a deep sense of gratitude that I write this, which has been put together as a platform for us to let Nigerians and indeed the whole world know what the Chartered Institute of Forensic and Investigative Professionals of Nigeria is all about and the unique concept we are bringing on board in order to complement national efforts in its quest to ride the country of corruption, fraud and Cyber-Crimes and other related crimes.
First and foremost, I wish to profoundly thank the Senate of the Federal Republic of Nigeria, under the distinguished and dynamic leadership of His Excellency, Senator Ahmad Ibrahim Lawan, Ph.D, CON, the President of the Senate, for magnanimously passing the Chartered Institute of Forensic and Investigative Professionals of Nigeria Bill, 2021 on Tuesday 2nd March, 2021. After the passage of this Bill by the Senate, and in view of the fact that we operate a bi-cameral Legislature, the ever-ready and resilient House of Representatives, und