The decision of Deposit Money Banks, DMBs, to place a restriction on the use of ATM cards abroad by bank customers is due to scarcity of foreign exchange, the CBN has said.The CBN said although it sympathizes with Nigerians for the sufferings they are experiencing in carrying out transactions abroad, it can't reverse the decision of DMBs and the CBN is in support of it as it would assist in reducing the pressure on the Naira.The Director, Monetary Policy Department, CBN, Mr. Moses Tule, explained that the restriction might continue until Nigeria could increase its foreign exchange earnings. He said if banks had not taken the decision to restrict the use of the ATM cards abroad, some of them would current be experiencing challenges meeting the overseas demand of their customers.May GOD help Us.. AMEN!!!
N igerians must move on together as a breakup is not an option, former Senate President, David Mark, said on Friday. “Those who are agitating for otherwise are missing the point. Nigeria has crossed many crucibles. We cannot reverse ourselves,” Mr. Mark told Kaduna State Acting Governor, Alhaji Aminu Shagali, in Kaduna. He was at the head of a delegation of the Nigeria Defence Academy (NDA) 3rd Regular Course Alumni Association on a courtesy visit to the acting governor. “The only option is to move on in a manner that is progressive, peaceful and united,” he was further quoted as saying by his media aide, Paul Mumeh. “We may have our disagreements. But a breakup is not an option. We can resolve our differences through meaningful dialogue and genuine conversation." “There is no use heating up the polity,” the ex-Senate president added. He noted that no matter the imperfections, the nation is greater and better as an indivisible country.
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