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CBN Reduces Approved BDC Dealers

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The Central Bank of Nigeria (CBN) has recently made a significant reduction in the number of approved Bureau de Change (BDC) dealers from over 5,689 to 2,991.

 

This information was disclosed by the apex bank and published on Wednesday in its updated list of approved BDCs.

 

It should be noted that in 2022, the CBN had previously published a list that approved 5,689 black market dealers.

 

However, in light of the exponential growth of BDC operators over the years, the number had surged from 74 in 2005 to 5,689 last year.

 

The decision to reduce the number of approved BDC dealers comes after the CBN implemented operational reforms in the country’s foreign exchange market on June 14.

 

These reforms, directed by President Bola Ahmed Tinubu, aimed at unifying the forex window.

 

The measures appear to be a response to the rapid growth and evolving dynamics of the BDC sector in Nigeria.

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Dangote Refinery Cuts Petrol Price To ₦970 per Litre For Marketers

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The Dangote Petroleum Refinery has announced a reduction in the price of Premium Motor Spirit (PMS), also known as petrol, to ₦970 per litre for oil marketers.

This new price, effective immediately, marks a ₦20 decrease from the refinery’s previous ex-depot price of ₦990 per litre, which was set earlier this month.

In a statement released on Sunday, Anthony Chiejina, the refinery’s Chief Branding and Communications Officer, explained that the price reduction is a way for the company to express its appreciation to Nigerians for their unwavering support in making the refinery a reality.

READ MORE: NDLEA Nabs Businessman For Using Ingestion To Smuggle Cocaine

“This decision is our way of thanking Nigerians for their unwavering support in making the refinery a dream come true,” Chiejina said.

The statement also highlighted the refinery’s gratitude towards the Nigerian government, acknowledging the role of government measures in supporting domestic businesses.

“In addition, this is to thank the government for their support, as this will complement the measures put in place to encourage domestic enterprise for our collective well-being,” the statement read.

Despite the price cut, the refinery reassured consumers that there would be no compromise on the quality of its products. “While the refinery would not compromise on the quality of its petroleum products, we assure you of best quality products that are environmentally friendly and sustainable,” the statement added.

The company also committed to ramping up production to meet domestic fuel consumption and alleviate concerns over potential supply shortages.

“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption; thus, dispelling any fear of a shortfall in supply,” the statement concluded.

The price reduction is expected to save marketers approximately ₦20 per litre on purchases from the refinery’s Lekki-based plant.

 

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I Am Just A Content Creator – Simon Ekpa Denies Biafran Leadership Role

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Simon Ekpa, a Finnish citizen of Nigerian descent and a controversial figure in the Biafran separatist movement, has dismissed his self-styled title of “Prime Minister of Biafra” as inconsequential.

Speaking during legal proceedings at the Päijät-Häme District Court in Finland, Ekpa stated, “I am just a content creator; the issue of Prime Minister of Biafra is not serious.”

READ ALSO: National Assembly In Top Gear For Tinubu’s 2025 Budget Presentation

Ekpa’s statement comes in the wake of his arrest by Finnish authorities on charges related to incitement of terrorism.

The Finnish National Bureau of Investigation (NBI) has accused Ekpa of public incitement to commit crimes with terrorist intent.

The arrest stems from an incident in Lahti on August 23, 2021, and officials are also seeking the detention of four other suspects linked to the case.

“The detention demands are related to a preliminary investigation in which a Finnish citizen of Nigerian descent, born in the 1980s, is suspected of public incitement to commit a crime with terrorist intent,” the NBI said in a statement.

Ekpa, who has used his social media platforms to advocate for Biafran independence, has been a divisive figure in Nigeria’s southeast region.

His rhetoric and actions, including calls for economic shutdowns through “sit-at-home” orders, have been linked to widespread unrest and disruptions in the region.

 

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National Assembly In Top Gear For Tinubu’s 2025 Budget Presentation

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The National Assembly management team, led by Clerk Sani Magaji Tambawal, has ramped up efforts to ensure a seamless presentation of the 2025 Appropriation Bill by President Bola Ahmed Tinubu.

The event, scheduled for a joint session of the Senate and House of Representatives, is regarded as a significant moment in Nigeria’s legislative calendar.

Preparations include a thorough inspection of the assembly chambers to ensure all facilities are fully functional.

READ MORE: PDP Governors Probe Ondo Polls, Criticizes Edo Result

Deputy Clerk Kamoru Ogunlana, who is overseeing the technical arrangements, confirmed that key systems, including microphones, sound equipment, and other audio-visual tools, have been tested to ensure smooth communication during the session.

“We are working tirelessly to ensure that the National Assembly is fully prepared to receive Mr. President and provide a conducive environment for this significant moment in our democratic process,” Ogunlana stated.

Seating arrangements are also being finalized to accommodate lawmakers, government officials, and other dignitaries expected at the session.

Security measures are being reviewed in collaboration with relevant agencies to ensure the safety of all attendees. Meanwhile, press accreditation is being managed to facilitate effective media coverage.

The 2025 budget presentation is expected to highlight the government’s economic priorities while reinforcing the partnership between the executive and legislative arms of government.

As the session approaches, the National Assembly has expressed its commitment to upholding Nigeria’s democratic values and providing a platform for transparent governance.

 

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