CBN Declares $553 Million Remittance Inflows Amid FX Reforms James Emejo in Abuja and Nume Ekeghe in Lagos
The Central Bank of Nigeria (CBN) yesterday reported a significant increase in remittance inflows,
which peaked at $553 million in July 2024. The all-time high performance represented 130 per cent increase from the corresponding period in 2023.
In a statement, CBN’s acting Director, Corporate Communications Department, Mrs. Hakama Sidi Ali, said the figure represented the highest monthly total inflows on record and reflected ongoing
efforts by CBN to enhance liquidity in the country's foreign exchange (FX) market. The central bank attributed the substantial growth in remittance receipts to policy measures
introduced by the bank to enhance liquidity in Nigeria's foreign exchange market. The measures included granting licenses to new International Money Transfer Operators (IMTOs), imple-
menting a willing buyer-willing seller model, and enabling timely access to naira liquidity for IMTOs. Diaspora remittances were a Continued on page 9
TCN: N1.7tn Required to Complete 129 Ongoing Transmission Projects Nationwide... Page 5 Wednesday 21 August, 2024 Vol 29. No 10724. Price: N400
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SANs, Activists, Others Give Incoming CJN, Kekere-Ekun, Six-month Timeline to Initiate Reforms... Page 12
Clark: Wike Must Leave PDP For Party to Survive Party inaugurates disciplinary, reconciliation committee today
Chuks Okocha and Sunday Aborisade in Abuja
Foremost Ijaw national leader,
Chief Edwin Clark, yesterday, said Minister of the Federal Capital Territory (FCT), Nyesom Wike, must leave Peoples Democratic Party
(PDP) for the party to overcome its current travails. Clark, in another letter to the national leadership of PDP, sought
a thorough probe of the alleged anti-party activities against Wike over the political crisis rocking Rivers State and recommended
commensurate punishment. Relatedly, PDP will today inaugurate its recently constituted reconciliation and disciplinary com-
mittees. National Publicity Secretary of the party, Debo Ologunagba, Continued on page 9
NLC Seeks Time Extension for Ajaero to Honour Police Invitation, Threatens Strike AI accuses FG of targeting labour leaders, attempt to cripple union ITUC condemns alleged intimidation of trade unions
Onyebuchi Ezigbo, Linus Aleke in Abuja and Wale Igbintade in Lagos
Nigeria Labour Congress (NLC) has formally written to the police stating why NLC president, Joe Ajaero, could not honour an invitation by the police yesterday. However, in light of the budding face-off between the labour union and the Nigeria Police, NLC asked its members to be ready to commence a nationwide strike if need be. Likewise, Amnesty International (AI), Nigeria, accused the federal government of trying to undermine and intimidate NLC and its leadership with allegations of terrorism financing. International Trade Union Confederation (ITUC) also expressed concern over what it called escalating attacks on the trade union movement in Nigeria. Continued on page 9
PDP BoT on fact finding mission Visits Fubara...
L-R: Chief Olabode George; Rivers State Governor, Siminalayi Fubara; and Senator Adolphus Wabara, at the Government House, Port Harcourt, during a fact finding visit by the PDP BoT, in Rivers ... yesterday.
Musawa: We’re Facilitating $100bn Investment Opportunities for Culture, Creative Industry Players... Page 8