Yemi Cardoso: Floating of Currency Key to Achieving Forex Market Reality Says amid economic difficulties, restoring CBN's credibility crucial
James Emejo in Abuja and Nume Ekeghe in Lagos
Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has emphasised that the
bank's decision to float the naira, amid considerable public criticism, was inevitable to "bring the official
exchange rate closer to market reality". Cardoso said the disparity between
the official and parallel rates had encouraged arbitrage and speculation, eroding trust in the market.
He made the comments while Continued on page 5
FG Approves N820bn for Completion of Abuja-Kaduna-Kano, Bodo Bonny Highways...
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Monday, October 7, 2024 Vol 29. No 10771. Price: N400
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As Israel’s Wars Rage, Thousands Gather to Mark First Anniversary of Oct 7 Hamas’ Attack French President, Macron, calls for halt to arms deliveries to Israel
Emmanuel Addeh in Abuja Thousands of people gathered over the weekend for the first emotional
commemorations marking the anniversary of Palestinian militant group Hamas' October 7, 2023 attack on Israel.
The first candlelight vigils, memorials and marches to mark the anniversary were held in cities ranging from Tel Aviv to London, Paris and Berlin, with
more set to be held around the world on Monday (today). In Tel Aviv, friends and relatives of the 370 people killed in the massacre
at the Nova dance festival held a and music, they lit candles for their candlelight vigil Sunday evening at loved ones and embraced, newswire, a concert hall. Against a backdrop of neon lights Continued on page 5
Fubara: Desperate Situations Require Desperate Measures Swears in new council chairmen, says it's beginning of new Rivers HURIWA tasks NJC to sanction judges over frivolous court orders Chuks Okocha, Adedayo Akinwale in Abuja and Blessing Ibunge in Port Harcourt Rivers State Governor Siminalayi Fubara, yesterday, said he had to take the position he took on local governments in the state because the system was in a desperate situation, which required desperate measures. Speaking while swearing in the newly elected chairmen of the 23 local government areas of the state, at Government House, Port Harcourt, Fubara said the outcome of Saturday’s council election marked the beginning of a new Rivers State. The governor thanked President Bola Tinubu for his role in the Rivers State local government elections. He said Tinubu gave them the requisite support for a successful exercise. Fubara warned the council
chairmen not to misuse the power bestowed on them, stressing that there would always be consequence for their actions. Former Vice President Atiku Abubakar, also yesterday, said with the conclusion of the Rivers State council elections, it was clear that nothing was better than democracy. However, outgone Chairman, Caretaker Committee of Ogu/Bolo Local Government Area, Evans Bipi, accused Minister of Federal Capital Territory (FCT), Nyesom Wike, of usurping the powers of the president. At the same time, Human Rights Writers Association of Nigeria (HURIWA) expressed concern over what it described as the increasing issuance of frivolous court orders and ex-parte injunctions by judges,
INDEPENDENCE DAY SERVICE AT THE RCCG HEADQUARTERS.... R-L: Governor of Lagos State, Mr. Babajide Sanwo-Olu; General Overseer, Redeemed Christian Church of God Worldwide, RCCG, Pastor Enoch Adeboye and
Continued on page 5 the First Lady, Dr. (Mrs) Ibijoke Sanwo-Olu during the Independence Day service at the RCCG Headquarters, Redemption Way, Ebute Metta, ... yesterday