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CBN injects $210 million into forex market

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The Central Bank of Nigeria (CBN) has injected 210 million U.S. dollars into interbank segment of the Foreign Exchange Market following sales concluded on Tuesday.

The bank’s Director, Corporate Communications Department, Isaac Okorafor, made this known in a statement in Abuja on Tuesday.

Okorafor explained that the figures released by the CBN indicated that authorised dealers in the wholesale segment of the market were offered 100 million dollars while the Small and Medium Enterprises (SMEs) segment received 55 million dollars.

He said another 55 million dollars was allocated to customers requiring foreign exchange for invisibles such as tuition fees, medical payments and Basic Travel Allowance (BTA), among others.

The director reaffirmed the bank’s commitment towards ensuring stability in foreign exchange market.

CBN had on September 6, injected 321.11 million U.S. dollars and CNY33.3 million into the Retail Secondary Market Intervention Sales (SMIS) segment.

Meanwhile, N357 exchanged for a dollar at the Bureau De Change (BDC) segment of the market on Tuesday.

(NAN)

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I sympathise with Nigerians over cashless policy – Emefiele

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Central Bank of Nigeria, CBN, Friday apologised to bank customers for the inconveniences the newly introduced cashless policy will cause.

Governor of Central Bank, Godwin Emefiele made the apology at the end of the Monetary Policy Committee (MPC) meeting in Abuja.

He stated this when he was asked of his reaction to the push back from Nigerians over the return of charges on deposits and withdrawals beyond certain thresholds.

He said, “I sympathize and regret inconvenience cashless policy will cause bank customers.”

Emefiele, who also spoke on the controversial judgement debt of $9.6 billion awarded to P&ID, maintained that “by the grace of God there is no threat to the reserves…..and we have received presidential approval that those indicted should be prosecuted.”

At the end of the meeting, the MPC retained interest rates at 13.5% as well as other parameters.

Despite the apology, the CBN boss maintained that the policy will progress as announced.

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Auto crash kills five, ten sustain injuries in Lagos-Ibadan expressway

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Five persons were on Friday killed in a road crash, and 10 others sustained injuries along Ibadan –Lagos Expressway when the commercial bus conveying them burst into flames.

The Ogun State Sector Commander of the Federal Road Safety Corps, FRSC, Clement Oladele said the crash occurred at about 8.49a.m. around Onigari, a town on the border of Ogun State and Oyo State.

He said the crash involved a commercial bus, which was travelling from Sokoto but stopped briefly in Ibadan to pick passengers heading towards Lagos.

The bus lost control due to excessive speed, and collided with the concrete curb in the middle of the road and burst into flames.

The commander said the crash involved 18 passengers comprising 17 male adults and one female adult.

He explained that a total of 10 male adults sustained injuries from the crash, while five of the passengers comprising four male adults and one female adult died.

Oladele said the vehicle is a white-coloured Mazda bus with registration number WWD 302CB.

He advised members of the public whose relatives travelled to contact the commission at KM27 Ibadan – Lagos Expressway at Ogunmakin or the Olabisi Onabanjo University Teaching Hospital (OOUTH) , Sagamu, where the injured victims are receiving treatment.

He said the bodies of those who died in the crash have been deposited at the hospital’s mortuary.

Oladele advised the public to drive cautiously on the Lagos – Ibadan Expressway, stressing that the Expressway is still undergoing rehabilitation.

He said the recommended speed at construction area is 50 kilometers per hour, and also reminded passengers to caution drivers driving recklessly.

He said passengers can call the commission on the toll free number 122 to report recalcitrant drivers.

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PortHarcourt: Arrested serial killer also notorious cult member – Police reveals

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Rivers State police command has arrested a suspected serial killer of young women, Mr. Gracious David West, who allegedly lures his victims to low budget hotels in Port-Harcourt, the state capital.

Police alleged also that the serial killer was also a notorious cult group called Degbam.

It was gathered that the suspect was caught on camera a few days ago leaving a hotel after strangling a yet-to-be identified lady following sex romp with her.

TIMELY POST recalls that the police had said David West’s victims since July are no fewer than eight ladies.

However, a statement on Thursday night by the Nigeria Police Public Relations Officer, ACP Frank Mba, said the alleged serial killer, who is also a cultist, was nabbed on his way to Uyo, Akwa Ibom from Port-Harcourt.

The statement reads, “The notorious serial killer, Gracious David West was today September 19, 2019, arrested by the Police in Rivers.

“The 26-year old killer from Buguma LGA of Rivers State, who is also a member of the Degbam cult group was arrested along East-West Road enroute to Uyo from Port Harcourt.

“He has since made useful statements to the Police. Investigation is on with a view to ascertaining his motives and possible accomplices.”

Mba added that the Commissioner of Police in Rivers State, CP Mustapha Dandaura, will be briefing the media on the breakthrough on Friday September 20, 2019.

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