NAIRA TO BE OFFICIALLY DEVALUED

Rumours emanating from the ministry of finance have it that the federal government will devalue the Naira. A source with knowledge of the policy said on condition of anonymity, “the Naira will be officially devalued tomorrow and going forward, the exchange rate will be market-driven as done

anywhere else in the world."

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BUSINESS & FINANCE: SULTAN WANTS BAN ON IMPORTATION OF RICE THROUGH LAND BORDERS LIFTED

The Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar III, on Monday called on the management of the Nigeria Customs Service to consider the possibility of lifting the ban on the importation of rice through the nation’s land borders.

Speaking when the Comptroller-General of the Service, Col. Hameed Ali, paid him a courtesy visit in his palace in Sokoto, the monarch said the policy of the government has brought untold hardship to the Nigerian masses and aggravated the scarcity of food in the country.

“This policy should be revisited with a view to making amends and ameliorate the suffering of Nigerians,” he said.

The monarch stated that he has been receiving complaints of the masses on the present hardship in the country and called on the customs boss to therefore brainstorm with his management team in this direction.

 

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