Minister of Budget and National Planning, Udoma Udo Udoma, says that infrastructure remains a critical element in the growth of any economy. The minister said this lastw eek during his meeting with a delegation of the management of The Infrastructure Bank (TIB), led by its Chief Executive Officer, Mr. Adekunle Oyinloye, in Abuja.

As I’m talking to you, $20bn is in various domiciliary accounts of individuals. Naira is our currency, why are they keeping the foreign currency? From my experience in international finance, I have never seen a country where its nationals speculate on its currency”. The preceeding is an excerpt from the presentation of Dr. Joseph Nnana, CBN Deputy Governor (Financial Systems Surveillance) at a recent meeting with the Joint Appropriation Committee of the National Assembly.

This is the last in a six-part series that hopes to steer the current exchange rate debate away from uninformed analysis to one focused on facts, taken from economic theory, history, and evidence from Nigeria and other countries that have undergone periods of currency crisis. It is our hope that Mr. President will read these pieces and reconsider his stance on the Naira and the broader question of economic growth.

Lagos—Following the return of five containers of beans exported to the Republic of Ireland, Minister of State for Agriculture, Senator Heineken Lokpobiri, has ordered the involvement of the Nigerian Quarantine Service, NQS, in all examination of agro products for export to prevent further national embarrassment.

Osogbo—The ancient city of Ile-Ife yesterday witnessed an influx of dignitaries who came for the thanksgiving ceremony of the traditional wedding of Ooni of Ife, Oba Enitan Adeyeye Ogunwusi and Olori Wuraola.