FG Frees Social Media as Naira Depreciates to Dollar

We Have No Plan to Regulate Online Media - FG

Alhaji Lai Mohammed, the Minister of information and culture says the Federal Government will not regulate the use of social media in Nigeria.

The Minister urged Online Publications to regulate their activities to ensure credibility and uphold public trust in Social Media.

Mohammed stated this on Friday while addressing Online Publishers in Lagos.


In a statement by the Special Assistant to the minister, Segun Adeyemi, the minister was quoted saying: ”If the online publications suffer credibility problems, they stand the risk of losing the confidence of their readers and the advertisers who provide the lifeblood for the publications’ survival”.

He promised Government's support and patronage of Online Publications through adverts, saying: ”All we ask for, in return, is that you provide accurate information to the people, and avoid sensationalism and partisanship.”

Naira Depreciates to Dollar by 0.3 % at Parallel Market

The naira on Friday depreciated by 0.3 per cent at the parallel market barely 24 hours it hedged up against the dollar.

The News Agency of Nigeria (NAN) reports that the naira lost N1 to exchange at N297 to the dollar. It had previously traded for N296 to the dollar on Thursday.

It, however, continued to exchange at N197 to the dollar at the official interbank window.

Traders at the market said that the scarcity of the dollar was still having its toll at the market, adding that, there were apprehensions that the apex bank might come up with yet another policy next week.

NAN reports that the Monetary Policy Committee Meeting (MPC) of the Central Bank of Nigeria (CBN) will be held on Jan. 25 to Jan. 26.

The meeting is expected to come out with policy statements on how to move the economy forward. (NAN)


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