Lagos State Government has commenced a three-day capacity building on Fish Cage Culture System for 120 women and youths in Afowo Community, Badagry.
The Commissioner for Agriculture, Ms. Abisola Olusanya who disclosed this on Tuesday, explained that the initiative would boost local fish production by an additional 162 tonnes of fish per annum, create over 100 direct jobs and 300 indirect jobs for cage construction workers, equipment suppliers, marketers and input suppliers.
She added that the State Government would further empower additional 80 women and youth in the Cage Culture System of fishing in the Community after the training with fish juvenile, bags of fish feed, medication and allowance for four months in addition to the 40 youth that were previously empowered in the same community in 2019.
“The State Government in a bid to upscale fish production and create jobs for 80 women and youth is implementing the Cage Culture Project in Afowo Community, Owode-Apa Kingdom, Badagry. This is in addition to the 40 Women and youth that were previously empowered with Fish Cage Culture System at the Community in 2019.
“The selected beneficiaries will be allotted Cage Culture System, fish juvenile, bags of fish feed, medication and allowance for four months.
“To ensure a successful implementation of the project, a three-day Capacity Building Programme to expose the beneficiaries to the rudiments of fish cage construction, stocking and management is being organised for the 120 women and youths participating in the project,” the Commissioner stated.
CBN warns banks over foreign exchange malpractices
The Central Bank of Nigeria, CBN, has insisted that the FX operating license of any bank or banks that are found guilty of ongoing investigations in foreign exchange malpractices would be suspended for at least a year.
The circular signed today by the Director Trade and Exchange Department, CBN, Ozoemena Nnaji stated: “In line with the continuing close surveillance of our financial markets in general and the FX market in particular, the CBN wishes to remind all banks that it is their responsibility to not only Know their Customers (KYC requirements) but also Know their customers’ business (KYCB requirements).
“Given these responsibilities and in view of recent occurrences in the market, the CBN would like to remind banks to desist from all and any forms of FX malpractices.
“We wish to reiterate that the FX operating license of any bank or banks that are found culpable with ongoing investigations would be suspended for at least one year. Please note and ensure compliance.”
Naira hits historic low of 543 against dollar
The naira has continued to depreciate on the parallel market, selling for N543 to the dollar on Thursday.
The bureau de change operators in Abuja bought dollar at N540, then it was sold for N543.
The British Pound was also sold for £1/N740.
This comes 44 days after the Central Bank of Nigeria barred sale of Forex to all bureau de change operators across the country.
On June 27, 2021, the CBN ended the sales of Forex to BDCs saying the parallel market had become a conduit for illicit Forex flows and graft.
The CBN said it would also no longer process applications for BDC licences in the country.