CBN mops up Naira through Treasury bills before new forex trading

The Central Bank of Nigeria (CBN) sold long-dated Treasury bills at higher yields than the secondary market to mop up naira liquidity before commencement of today’s interbank currency trading, traders said at the weekend.

The CBN sold 205.9 billion naira worth of one-year bills on Friday at 13.5 percent, compared with the secondary market which is currently trading at 10.81 percent, in order to curb speculation.

The excess liquidity prompted the central bank to sell 205.9 billion naira ($1.03 billion) worth of one-year bills on Friday at 13.5 percent, compared with the secondary market rate of 10.81 percent, traders said. The bank had offered 78 billion naira in bills on Thursday.

Nigerian Army uncovers Boko Haram’s new recruitment strategy; Sect providing loans to entrepreneurs, artisans in Northeast

The Nigerian Army on Wednesday said Boko Haram has devised a new strategy for recruiting youths in the northeast.

Brig. Gen. Rabe AAbubakar, in a statement said Boko Haram terrorists are at the moment giving loans to young entrepreneurs and artisans to induce them into the sect.

The statement reads: “It has come to the knowledge of the Defence Headquarters that Boko Haram terrorists have now devised another means of recruiting unsuspecting youths into their fold. In this clandestine dispensation, Boko Haram terrorists have resorted to providing loans to young entrepreneurs and artisans in the Northeast as a way of inducing them for recruitment.

Chibok: What Northern Leaders Should Do.... Head to Sambisa Forest

This is the moment to be sincere to ourselves. Please consider this:
Sometime ago, armed robbers made life very unbearable in South-East. The people of South-East gathered themselves (traders, drivers, motorcyclists, workers), all gathered together, some formed ''Bakasi Boys'', etc, and they went around towns and cities, arrested and killed known robbery kingpins and their members. Some sort of peace returned in South-East.

Also, in South-East, to tackle kidnapping. the APGA govt under Obi and now Obiano initiated a policy that if anyone is caught as kidnapper, his/her houses must be demolished, and govt will take ownership of all his/her properties. Many kidnappers have been flushed out and their houses destroyed.

Breaking: #BringBackOurGirls: Concern Citizens of Nigeria (CCN) Protest in Osun state

Following the yet to know where about of the abducted schoolgirls of Government Secondary Girls School in Chibok, Borno state by the Boko Haram Islamist Militias, the Concern Citizens Of Nigeria (CCN), Osun State chapter protested the abduction on Wednesday.

The group which comprises, Youth Movements, Student Bodies, Market Women, Traders and many other Concerned individuals called on the Federal Government to by all means bring back the abducted school girls that are have been kidnapped since three weeks ago and including those reportedly kidnapped on Monday in Borno state.

The Procession of the protest rally started at the Freedom/Mandela park through Orita Olaiya and ended at the Osun state police command headquarters, where the protesters position were submitted to the state commissioner of police who also promised to convene the messages through the appropriate quarters to the Federal Government.

JAF Declares MAY DAY in LAGOS as PROTEST DAY

The Joint Action Front, JAF, has  declares the MAY DAY in LAGOS as PROTEST DAY for the reversal of hike in School fees in LASU, LASPOLY and AOCOED!

The Lagos state government increased the school fees of the Lagos State University (LASU), Lagos State Polytechnic (LASPOLY) and that of the Adeniran Ogunsanya College of Education (AOCOED). The increment, JAF regarded as abnormal which the Lagos State Government must rescind.