The Nigerian Army, 29 Battalion under the 6 Division, Port Harcourt, has distributed 10,000 exercise books to students at the Community Secondary School, Ebubu, in the Eleme Local Government Area of the Rivers State.

Also, the Army distributed palliatives to widows and orphans in Ebubu and Aleto communities, as well as in Eleme LGA.

The Army said the gesture was aimed at building goodwill between the military and communities in Rivers State in the fight against criminal activities.

The 29 Battalion under the leadership of the General Officer Commanding, 6 Division Nigerian Army, Major General Jamal Abdussalam, handed the materials to the two communities in Eleme on Friday.

Distributing the items, the Commanding Officer, of 29 Battalion, Nigerian Army, Lt. Cpl. Ishaya Manga, said the non-kinetic approach to tackling criminality in the state was in tandem with the people-oriented philosophy of the Chief of Army Staff, Lieutenant General Taoreed Lagbaja.

Manga stated, “It would be recalled that on the 13th of October, 2023, the Chief of Army Staff, Lieutenant General Taoreed Lagbaja, flagged off an exercise known as Operation Still Water Three here in Port Harcourt, Rivers state.

“Part of the exercise is designed to get rid of criminal activities within Rivers State, the exercise is not only conducted by the military alone, other security agencies are also involved in the exercise.

“The community leaders, traditional rulers and other critical stakeholders in Rivers State are also part of the operation.

“We have seen that using the kinetic approach alone would not guarantee the successful conduct of this exercise and that was why the non-kinetic approach was also adopted in line with the kinetic approach so that we can actualise the vision of the Chief of Army Staff.”

In line with the philosophy of the Chief of Army Staff, under the leadership of Major General J H Abdussalam, the General Officer Commanding 6 Division, Nigerian Army, has directed us to select some of those less privileged homes and vulnerable communities to express our hands of non-kinetic activities.”

Manga, further said the initiative started a month ago, pointing out that other communities have earlier benefited.

He added, “We have started this exercise since last month, especially, we have visited four orphanage homes and distributed palliatives.

“We have also given palliatives to Obele and Ebubu communities, apart from giving out palliatives, we have distributed 10,000 exercise books of 40 leaves to about seven secondary schools within Rivers State.

“Some of those secondary schools are Ebubu community junior and senior secondary schools, Township Model Primary Schools 1 and 2, World Book Capital City Model Primary Schools and St Cyprian Primary School, Port Harcourt.

“Others are Community Secondary School Egberu, Ndoki, Community Secondary School, Anyama and Community Secondary School Okoloma in Oyigbo Local Government Area.”
Exercise books presented to students of Community Secondary School, Ebubu, by the 29 battalion, 6 DIV, Nigerian Army

Taking delivery of the donated items, the Sister-in-charge of Love Crucified Orphanage home, Aleto, Reverend Sister, Chika Maria expressed happiness, saying it was the first time such a large group of military personnel was visiting them.

On her part, a widow in the Ebubu community, Aken Charity, who received the palliatives, thanked the Army for the gesture.

Speaking, the Principal of Community Secondary School Ebubu, Mr Nkara Barine, who received the notebooks, assured that the items will be judiciously utilised.

The naira closed the week at N927.19/$ on the official Investor and Exporter forex window.

This was a 16.64 per cent decline from the N794.89/$ it closed the week that ended November 24, 2023, according to data from the FMDQ Securities Exchange. Also, the turnover of dollars traded in the market improved from $75.82m to $110.14m in the period under review.

On Friday, the naira began trading at N815.00/$ for the day before hitting a high of N1160/$ and a low N701/$ within the day. It eventually closed trading at N927.19/$.

Last week Friday, the naira traded at a high of N1136/$ and a low of N700.00/$. The naira has continued to fall despite the Central Bank of Nigeria’s attempt to clear a backlog of foreign exchange forward contracts.

Recently, the apex bank’s governor, Olayemi Cardoso, stated that fiscal deficits and public debt increases are adding pressure to the external reserves and contributing to exchange rate instability.

While commenting at the recent Chartered Institute of Bankers of Nigeria 58th Annual Bankers’ Dinner and Grand Finale of the Institute’s 60th Anniversary, the governor said, “We have already witnessed improvements in FX market liquidity in recent weeks, as the market responded positively to tranche payments which have been made to 31 banks to clear the backlog of FX forward obligations.

“We have been subjecting these payments to detailed verification to ensure only valid transactions are honored. In a properly functioning market, it is reasonable to expect significant FX liquidity, with daily trade potentially exceeding $1.0bn. We envision that, with discipline and focused commitment, foreign exchange reserves can be rebuilt to comparable levels with similar economies.”

He added that one of the bank’s monetary policies aims is to achieve price stability and the stabilization of the exchange rate of the naira. Cardoso highlighted that the proper functioning of domestic and foreign currency markets, clear, transparent, and harmonised rules governing market operations are essential.

He declared, “New foreign exchange guidelines and legislation will be developed, and extensive consultations will be conducted with banks and FX market operators before implementing any new requirements.”

However, the Economic Intelligence Unit, the research and analysis division of the Economist Group, does not believe the CBN has the required firepower to clear the backlog of foreign exchange orders.

In a recent report, it said, “In Nigeria, an unsupportive monetary policy implies that the naira will remain under pressure, while the central bank lacks the firepower to adequately supply the market or clear a backlog of foreign exchange orders, which will keep foreign investors unnerved. High inflation and a continued spread with the parallel market will leave the exchange rate regime unstable and result in periodic devaluations.”

in line with the ongoing update of records in the Pastor’s Office, be informed that all SPECIAL DISTRICT PARISHES of the Celestial Church of Christ Worldwide are to send their representatives to the Pastor’s Office to update their status in order to remain relevant in the scheme of things.

This has become necessary in view of the disturbing apathy towards obligations observed amongst parishes that fall into this category.

Representatives of SPECIAL DISTRICT PARISHES must therefore appear at the Pastor’s Office on the dates stated below:

KETU OFFICE: Monday, 4th to Friday 15th December, 2023.

IMEKO OFFICE: Tuesday, 19th to Friday 29th December, 2023.

TIME: 10 am to 4.00 pm daily.

Thank you.