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CBN Takes Measures to Stabilise Naira, Betta Edu Under Probe

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Finance News

Central Bank Of Nigeria,CBN,Naira

The Central Bank of Nigeria (CBN) has instructed banks to stop using foreign currencies as collateral for naira loans within 90 days. The Economic and Financial Crimes Commission (EFCC) is investigating 50 bank accounts and has recovered N30 billion in the case of Betta Edu, suspended minister of humanitarian affairs. The naira is approaching N1000/$ in the foreign exchange market.

Reports on measures taken by the Central Bank of Nigeria to stabilise the naira, and the probe of Betta Edu , suspended minister of humanitarian affairs , suffuse the frontpages of the dailies.

The Guardian reports that the naira is nearing N1000/$ in the foreign exchange market if the current bullish outlook of the market is sustained. The newspaper says Philip Shaibu, embattled deputy governor of Edo, has protested his impeachment by the Edo state house of assembly. THISDAY reports that the presidency has criticised Atiku Abubakar, former vice-president, over his recent comments on the Lagos-Calabar coastal highway project. The newspaper says the federal government used part of the Nigerian treasury bills and bonds issued in 2024 to pay N4.83 trillion Ways and Means advances from the CBN.

Source: News Formal (newsformal.com)

Central Bank Of Nigeria CBN Naira Foreign Exchange Collateral Loans Economic And Financial Crimes Commission EFCC Betta Edu Humanitarian Affairs Money Laundering Market

 

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