The Central Bank of Nigeria (CBN), on June 15, abandoned a 16 month currency peg of N199/$ which had eroded FX liquidity and brought manufacturing to its knees.
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On the possibility of using force if talks between the government and militants break down, Minister of Defence, Mansur Dan-Ali, said: “It cannot be ruled out.”
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The Defence Headquarters had scaled down military option and declared a ceasefire to pave the way for dialogue with the militants.
“Government is still committed to dialogue and whereby this cannot go on – then there could be resort to other means. The non-kinetic (force) means has always been the source first before government can recourse to the kinetic means.”