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CBN MOVES TO END BLACK MARKET IN FOREIGN EXCHANGE MARKET

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Central Bank of Nigeria’s (CBN) governor Godwin Emefiele. / AFP PHOTO / PHILIP OJISUA The Central Bank of Nigeria will move to eliminate the foreign exchange black market in Africa’s biggest economy, the country’s finance minister said on Tuesday. The naira trades, sometimes 40% below the official rates, against the dollar. Adeosun said the CBN has been mandated to scrap the damaging market. The central bank (CBN) “has been directed to do this and CBN has promised to do something by putting a system in place to eliminate the black market because it’s damaging the economy”, Adeosun told a conference. A CBN spokesman, Isaac Okorafor, said the central bank was working towards “ensuring that the forex market operates as effectively as we would envisage”. He said the aim was to “ensure there is no black market” but did not give details of how this would be achieved. Nigeria had pegged the naira to the dollar at 197-199 since March 2015 but the CBN scrapped the 16-month-old peg in June in ...
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Brigadier General Victor Okwudili Ezugwu escape death from angry soldiers

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Victor Ezugwu, the General Officer Commanding of the Nigerian Army 7 Division in Maimalari, escaped being lynched by rampaging Nigerian soldiers on Friday morning, PREMIUM TIMES can report. Details of the attempted assault on Mr. Ezegwu, a major general, by troops attached to ‘Operation Rescue Finale’ in Sambisa Forest, came a day after he denied our report about a mutiny on the battlefront. The troops were enraged over poor welfare arrangement and alleged deceit by their commanders, our sources recounted. Specifically, they accused the commander of leaving them to fight for two days without food. The incident occurred in Sambisa Forest on Friday morning, as this newspaper reported. Most of the soldiers involved in the mutiny were deployed to Sambisa from 21 Brigade in Bama, Borno State. PREMIUM TIMES obtained new details of the incident on Saturday, that show that the soldiers went from 9:00 a.m. on December 14 till 6:00 p.m. on December 15 — more than 24 hours — without food. When Mr...
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19 YEARS OLD BOY SMUGGLED IN SUITCASES

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Photo credited to:Gboah.com Heard to believe but real as 19 Year Old is been Smuggled Abroad Inside a Suitcase. A Moroccan woman was been arrested for trying to smuggle a 19-year-old migrant from Gabon across the border with Spain, inside a suitcase. The woman was arrested by the the Spanish Civil Guard in Ceuta, on December 30. Dozens of migrants made it to the top of the 6 metre barbed wire fence in the early hours before being lifted down by cranes, footage from local TV station Faro TV showed. Only two people were allowed into Ceuta to be taken to hospital while the rest were returned to Morocco, the Spanish government said in a statement. Five Spanish police and 50 from Morocco were injured, the government added, after migrants used rocks and metal bars to try and break through gates to access the fence and clashed with authorities. Spain’s two enclaves in Morocco, Ceuta and Melilla, are often used as entry points into Europe for African migrants, who either climb over their bor...
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