They are also worried that despite the huge crash in value
of the Naira against world's major currencies, CBN maintained its official rate at N197 / USD1 thereby creating wider parallel market margin of about 50 per cent, the highest so far in the history of Nigeria's currency market.
But former President, Association of National Accountants of Nigeria, Dr. Sam Nzekwe, stated that the recent fall
of the naira against the United States dollar does not speak well of the Nigerian economy, despite claims by President Buhari.
The relative stability
of the Naira against the Dollar had impacted positively on price stability of most goods in the market.
The acting president said this in Port - Harcourt while responding to members of the opposition who blame the federal government for the fall
of the Naira against the Dollar.
Osinbajo, said such was responsible for the unremitting plunge
of the Naira against the dollar in the market.
He submitted that this singular act will «reduce pressure on naira and eventually increase value
of naira against other world major currencies.»
He noted CBN's periodic intervention in the forex market reduced exchange rate volatility over the last two quarters of 2017 and businesses showed improved liquidity of forex and stability
of naira against the dollar.
Not exact matches
Miffed by the constant abuse
of the
naira, the Central Bank
of Nigeria (CBN) and the National Orientation Agency (NOA) have joined forces to launch grassroots campaign
against naira abuse across the 774 local government areas
of the country.
The
Naira on Friday depreciated
against the dollar at the parallel market after posting days
of appreciation.
SERAP's request followed growing allegations
of corruption
against Mrs Alison - Madueke and the recent disclosure by the Chairman, Presidential Advisory Committee Against Corruption, Prof. Itse Sagay that the Economic and Financial Crimes Commission had recovered about half a trillion naira fr
against Mrs Alison - Madueke and the recent disclosure by the Chairman, Presidential Advisory Committee
Against Corruption, Prof. Itse Sagay that the Economic and Financial Crimes Commission had recovered about half a trillion naira fr
Against Corruption, Prof. Itse Sagay that the Economic and Financial Crimes Commission had recovered about half a trillion
naira from her.
Let it be known at this juncture that we also condemned the destructive act
of the students, therefore, we are not
against the fact that the management want to sanction them through payment
of damages, all we are saying is that N25, 000 [TwentyFive Thousand
Naira] is too much for our parents to bear considering the fact that the school is dominated by ward (s)
of Ondo State Civil Servants who have not received salary since November 2015, and most
of these parents have 2 to 4 children in this same university, therefore, where do we expect them to get such a huge amount
of money?
If the Presidency does not review these «bogus» allocations in its proposed expenditure, it may lose the moral right to advise the National Assembly
against spending some billions
of naira on purchasing cars for its members despite the fact that the legislators have already collected their car allowances plus other sundry emoluments.
The
Naira on Friday depreciated
against the dollar at the parallel market in Lagos, the News Agency
of Nigeria (NAN) reports.
She also averred that the defendant's confessional statement that he had diverted part
of the One Billion
Naira (N1, 000 000,000) UBA loan to other projects and services corroborated the charges preferred
against him.
A prosecution witness in the ongoing trial
of Mr. Waripamo - Owei Dudafa, on Monday testified
against the former aide to ex-President, Jonathan, stating how he changed millions
of dollars to
naira for the accused.
Former Minister
of Finance, Dr Ngozi Okonjo - Iweala, has reacted to allegations that she diverted billions
of naira Abacha loot recovered by the federal government a «baseless story» explaining that some
of the money was released to the office
of the National Security Adviser in response to a request by the former NSA, Col Ibrahim Dasuki (rtd) for funds to prosecute the insurgency battle
against Boko Haram.
And president Jonathan keeps and maintains ten presidential jets on Nigerian tax payers revenues expense.President Jonathan should declare his assets publicly and encourage rigorous fight
against corruption practices on his watch and rein in on his petroleum minister Ms Madueke who spent N2 billion
naira tax payers funds on rental
of private jet in two years.President Jonathan must look in the mirror to see who encourages corruption practices in government in Nigeria.