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Expert Lauds CBN Handling Of Forex Challenges

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Expert Lauds CBN Handling Of Forex Challenges

Expert Lauds CBN Handling Of Forex Challenges

 

 

 

 

Financial experts have applauded the Central Bank of Nigeria (CBN) for the clearance of foreign exchange forwards owned multinational institutions in the country.

 

 

 

 

 

It could be recalled that the Central Bank of Nigeria (CBN), on Wednesday, took a significant move to eliminate outstanding foreign exchange liabilities by disbursing approximately $2 billion across pivotal sectors.

 

 

 

 

 

 

The key sectors include manufacturing, aviation, and petroleum, a statement said Wednesday.

 

 

 

 

 

This intervention which encompasses the complete clearance of liabilities for 14 banks and the initiation of settlements with foreign airlines span across manufacturing and petroleum.

 

 

Expert Lauds CBN Handling Of Forex Challenges

 

 

However, in a chat with our Correspondent, the head, Financial Institutions Ratings at Agusto& Co, Ayokunle Olubunmi, said despite numerous economic challenges inherited from past administration, the CBN has been able to stabilise and resolve the knotty issues leading to devaluation of Naira.

 

 

 

 

 

According to Ayokunle, the current administration has shown commitment in putting a stop to the slide of the naira, saying the result of the CBN effort in managing the naira would soon be felt by everyone.

“There are a lot of challenges inherited from the past administration and they have resolved it to an appreciable extent but, to me they have tried, however, when you are managing an economy, there’s a lot of give and take and there are no policies you implement that don’t have downside. For instance, some schools of thought said to stop the slide of naira, there should be increase interest rate and if they do that the demand for dollar will reduce but, it will affect the economy.”

“To me, they have tried and I believe we won’t feel the impact of their efforts until they clear the FX forward and we will actually see the impact of what they have done.”

Olubunmi who chided the past CBN administration over the mishandling of the nation’s monetary policies says, the current administration is clearing the mess created for the benefit of the economy.

“They have shown huge commitment to stop the slide of naira because it is an aberration and unheard of that a sovereign country is defaulting in its obligations and unfortunately when there is low supply, there are limitations on how far the country can meet its obligations. That is one of the flaws of Emefiele’s management styles on how he issued FX when there wasn’t enough ability to meet the obligations.

” They have tried despite the significant decline in supply. They have met so much of the FX forward and the full impact of their efforts will be seen in the next couple of months.Also, at the same time, let’s wait till we see the impact let’s wait till they finish clearing the FX forward and like what I gathered they are bringing policies forwards that will help the market.”

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Banwo Identifies Structural Challenges Limiting Opposition

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Banwo Identifies Structural Challenges Limiting Opposition

 

Public commentator Dr. Ope Banwo has identified key structural and strategic challenges limiting the effectiveness of opposition parties in Nigeria.

In a statement released from his base in America, Banwo outlined several factors, including internal divisions, weak grassroots presence, and lack of clear policy alternatives, as major obstacles facing opposition groups.

“One of the biggest issues is fragmentation. There are too many interests and not enough coordination,” he said.

He noted that multiple presidential ambitions within opposition ranks could make it difficult to build consensus around a single candidate.

Banwo also emphasised the importance of grassroots political structures, stating that electoral success in Nigeria depends heavily on local-level organisation.

“Elections are not won on social media. They are won through presence and coordination at the community level,” he explained.

Another concern raised by Banwo is what he described as inconsistent messaging from opposition parties, which he said could make it difficult for voters to identify a clear alternative to the current administration.

“Criticism alone is not enough. Voters want to see a defined direction and credible leadership,” he added.

He further pointed to the challenges of funding and long-term planning, noting that successful political campaigns require sustained investment and discipline.

According to him, defeating an incumbent government demands a high level of coordination, including strong alliances and a unified national strategy.

Banwo, however, suggested that there remains an opportunity for opposition parties to reposition themselves if they address these challenges early.

He stressed the need for compromise among political leaders, urging them to prioritise collective goals over individual ambitions.

“If there is unity, structure, and clarity of purpose, the political landscape can still change,” he said.

He concluded that the strength of any democracy depends on the presence of a viable opposition capable of offering credible alternatives to voters

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koloman’s: Daddy @pastorumoeno we’re still waiting for your benevolence sir

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koloman’s: Daddy @pastorumoeno we’re still waiting for your benevolence sir

 

@igosave @okonlagos @nedu_official @yawnaija @deehumorous @senatorcomedian @akwaibomstategovt

 

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Harmony Garden CEO Empowers Widows with Enhanced Welfare Support

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Harmony Garden CEO Empowers Widows with Enhanced Welfare Support

 

EPE, LAGOS — The Chief Executive Officer of Harmony Garden and Estate Development Limited, Hon. Dr. Saheed Audullahi Mosadoluwa, popularly known as Mr. Ibile, has reaffirmed his commitment to humanitarian service by extending increased welfare support to widows in Epe.

The gesture came during a visit by members of the Widows Association of Nigeria, Epe Branch, who gathered in large numbers on Tuesday to express appreciation for what they described as sustained generosity and life-changing support.

The engagement was marked by emotional testimonies, as several beneficiaries recounted how the initiative has improved their living conditions and restored hope. Many offered prayers for the philanthropist, describing his intervention as timely and impactful amid prevailing economic challenges.

One of the beneficiaries, Mrs. Folorunsho Quadri, commended Dr. Mosadoluwa’s consistent support, noting that the initiative has helped restore dignity among widows in the community. She revealed that members receive ₦100,000 quarterly, alongside a monthly stipend recently increased from ₦10,000 to ₦20,000 to cushion the effects of economic hardship.

According to her, the assistance goes beyond financial relief, providing emotional strength and encouragement for widows striving to rebuild their lives.

Responding, Dr. Mosadoluwa expressed gratitude for the visit and reiterated that his philanthropic activities are rooted in a genuine desire to give back to society. He emphasized that true wealth lies in the positive impact one makes in the lives of others, adding that supporting vulnerable groups remains a core priority.

The real estate developer also addressed concerns surrounding Harmony Garden, assuring the public of the company’s commitment to transparency and integrity, particularly in its land transactions.

He dismissed speculations linking his humanitarian gestures to political ambitions, maintaining that his actions are driven solely by compassion and a sense of social responsibility.

Dr. Mosadoluwa further urged the widows to make judicious use of the support while remaining resilient and hopeful despite life’s challenges.

Observers say the initiative highlights the increasing role of private sector players in complementing government efforts toward social welfare and community development.

Harmony Garden and Estate Development Limited continues to expand its presence in Nigeria’s real estate sector, while strengthening its reputation as a socially responsible organisation dedicated to improving lives.

 

Harmony Garden CEO Empowers Widows with Enhanced Welfare Support

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