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ORCHARD PARK, N.Y. (AP) — There’s plenty of concern and second-guessing to unpack from how the Bills unraveled on defense, special teams and clock management in their loss to the Los Angeles Rams to wonder whether it was premature labeling Buffalo as Super Bowl contenders only a week earlier. Read this article for free: Already have an account? To continue reading, please subscribe: * ORCHARD PARK, N.Y. (AP) — There’s plenty of concern and second-guessing to unpack from how the Bills unraveled on defense, special teams and clock management in their loss to the Los Angeles Rams to wonder whether it was premature labeling Buffalo as Super Bowl contenders only a week earlier. Read unlimited articles for free today: Already have an account? ORCHARD PARK, N.Y. (AP) — There’s plenty of concern and second-guessing to unpack from how the Bills unraveled on defense, special teams and clock management in their loss to the Los Angeles Rams to wonder whether it was premature labeling Buffalo as Super Bowl contenders only a week earlier. But first, the good news. There’s very little wrong with Buffalo’s Josh Allen-led offense after the quarterback strengthened his NFL MVP case. A week after a four-TD performance that included the statistical anomaly of him scoring two touchdowns on the same play in a 35-10 win over San Francisco, Allen became the NFL’s first player to throw and rush for three scores apiece in 44-42 loss to Los Angeles on Sunday. That Allen’s latest superhuman-like effort ended in defeat is what’s troubling for the five-time defending AFC East champions (10-3) in their bid to dispel questions of finding ways to fall short in the playoffs in each of the past five years. Buffalo’s defense had few answers in stopping the Rams’ dynamic attack while allowing a season-high 457 yards. Worse still, the Bills allowed Los Angeles to go 11 of 15 on third down for a 73.3 conversion percentage — the third highest allowed by Buffalo and worst since allowing Miami’s 75% conversion rate in 1986. If that’s not bad enough, the Bills lost for the first time in 39 games in which they scored at least 42 points, while becoming the NFL’s second team to lose when scoring 42 or more and not committing a turnover. Special teams didn’t help. Aside from allowing a blocked punt to be returned for a touchdown, the Bills couldn’t muster an attempt to block the Rams’ final punt from midfield with 7 seconds left because they only had nine players on the field. As coach Sean McDermott concluded after finally addressing reporters more than an hour after the game ended: “I thought we lost two of the three phases today.” He failed to mention yet another clock management misstep. Rather than have Allen spike the ball to stop the clock after a failed quarterback keeper from the Rams 1 with 62 seconds remaining, McDermott called timeout. That left Buffalo with two timeouts and essentially relying on the slim chances of recovering an onside kick after Allen scored on his next attempt. McDermott defended his decision by saying he feared too much time would elapse before the Bills aligned for another snap. And yet, it would not have matched the 45 seconds the Rams ran off on their final possession after Buffalo used its final two timeouts. Together, these are the types of miscues that have haunted the Bills in their recent playoff losses. The bright side is the loss to the Rams didn’t end the Bills’ season, though they fell two games behind Kansas City (12-1) in the race for the AFC’s top seed. And perhaps, the loss can be chalked up to a team riding a little too high off a playoff-clinching win and having to travel across the country to face a Rams team in the thick of its divisional race. If that’s so, the Bills have a chance to address their flaws — and doubters — by how they respond in what still stands as a juicy showdown at the NFC-leading Detroit Lions (12-1) on Sunday. “They’re the top dog in football right now,” Allen said, looking ahead to Detroit. “We have to have a good week, learn from this one, and put it behind us.” What’s working Scoring. The Bills topped 30 points for a team-record seventh consecutive game and ninth time this season. Buffalo entered the day ranked second in the NFL averaging 30.5 points per outing, behind Detroit (32.1). What needs help Run defense. Though the Rams averaged just 3.3 yards per carry, they stuck with it in finishing with 137 yards, helping them enjoy a 17-minute edge in time of possession. Stock up Allen. If not for him, the Bills wouldn’t have been in position to nearly overcome a 17-point fourth-quarter deficit. His 424 yards (342 passing and 82 rushing) accounted for all but 21 yards of Buffalo’s total offense. Stock down With so many options, perhaps the focus falls on special teams coordinator Matthew Smiley. This is the second time in 13 months special teams personnel management became an issue. Buffalo was flagged for having too many men as time expired, providing Wil Lutz a second chance to hit a decisive field goal in sealing Denver’s 24-22 win last season. Injuries Starting CB Rasul Douglas was sidelined by a knee injury. ... DE Casey Toohill injured his ribs. Key number Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. 80-1-1 — The Bills’ record when scoring 38 or more points, including a 38-38 tie with Denver in 1960. Next steps Facing Detroit represents Buffalo’s final major test before closing the season with two games against New England and hosting the New York Jets. ___ AP NFL: https://apnews.com/hub/nfl Advertisement Advertisement
Raimon Land Plc (RML) plans to include its flagship One City Centre (OCC) property in central Bangkok, valued at 14.8 billion baht, in a real estate investment trust (REIT) as part of its strategy to enhance long-term financial stability. The SET-listed luxury property developer is also preparing to issue new debentures or secure loans from leading financial institutions while expediting the sale of completed real estate inventory to enhance cash flow, said chief financial officer Sorrapong Mamuang. The OCC building, which has an occupancy rate of nearly 80% at present, has attracted significant interest from domestic and international investors. RML is in advanced negotiations with five major investors and expects to finalise the REIT conversion by next year. "With the OCC building as a key component of our strategy, we are on track to achieve profitability and strengthen our financial position. Our pipeline of new project launches, coupled with the successful execution of our turnaround strategy, positions RML for sustainable growth and long-term stability," he said. Mr Sorrapong also clarified points raised by the Stock Exchange of Thailand regarding the company's third-quarter financial statements, saying every investment decision is carefully evaluated for risk and long-term value. "RML reaffirms that all operations adhere to legal and regulatory requirements and emphasise that the investments pose no negative impact on its financial standing," he said. RML has allocated pre-development funds to support a new mixed-use project scheduled to be launched in the first quarter of 2025. These temporary funds are held with a trusted executive and serve to reassure the landowner of RML's readiness to invest while minimising investment risk. Previous management decided in 2019 that RML should secure land for a condominium in Sukhumvit. Following a re-evaluation by the current management and development constraints, the company decided to set aside an impairment provision to reflect the project's adjusted valuation. Terms are being negotiated and a resolution is expected by the first quarter of 2025. In 2022, RML invested in convertible notes of Nautilus Data Technologies, a US-based data centre company that is preparing for a Nasdaq launch within two years. While some shareholders have committed additional funds, RML is carefully evaluating its next steps, ensuring all decisions align with shareholder interests and long-term financial objectives, he said. RML has also signed a joint venture agreement for a villa project to be launched in the first quarter of 2025. The project is being adjusted to comply with new legal requirements in Phuket while both RML and its partners remain committed due to its strong business potential. "We are confident that our investments will not only ensure financial stability but also create growth opportunities for the future," said Mr Sorrapong.
By Kaushalya Perera Sri Lankans love their educational qualifications. Qualifications permit envious comparisons of value, similar to the ownership of gold jewellery, an expensive watch or a branded pair of shoes, resulting in exactly the same questions of provenance, worth and authenticity, but from a much higher moral ground. For the past two weeks we, the people, have watched as allegations that the (now) ex-Speaker’s educational qualifications were faked, proliferated across the news and social media. We waited for him to prove otherwise, all the while observing how his party and his current place of work (the Parliament) seemed to have neither the will nor the means to verify these claims. As I write, the ‘qualifications war’ has turned into an Absurd play. Why were the ex-Speaker’s qualifications so important? This is a two-fold problem related to the unhealthy relationship that Sri Lankans have with qualifications, coupled with NPP’s self-branding as a ‘clean’ party. Let’s take the second part first. One of the NPP’s pledges was that they would give ‘sudussata sudusu thaena’, i.e., appropriate positions to suitable individuals. This was a constant thread of their election rhetoric and it was accepted as a counter to the rampant nepotism and cronyism we have been seeing. After the (ex) Speaker stepped down, the Prime Minister said in Parliament that her Party includes members with no certificates, as well as those with many qualifications; that all are equally valued because her party values all types of knowledge; and that knowledge cannot be understood narrowly. I fully agree. It is the kind of vision I expect from a Minister of Education. At the same time, it cannot be denied that the NPP knowingly played the qualifications game during their long drawn-out campaign. The JVP’s image—associated in public discourse with ragging, student protests and workers’ strikes—was subsumed into the NPP’s much-vaunted membership of professionals, academics and artists. And the reason why the ‘qualifications game’ was so effective as election currency is precisely because Sri Lankans value qualifications so highly, in such a problematic way. It provided legitimacy to the NPP’s portrayal of themselves as a party standing against a host of corrupt charlatans. This brings us to the first part of the problem – our love of qualifications. In the education sectors, we’re all familiar with that little line: ‘A certificate will be provided’, which is included to increase participant numbers. Also familiar are instances of people registering for a specific course disappearing from the actual class and turning up at the ‘certificate-awarding ceremony’. Further, degrees are often demanded in some sectors for jobs that do not require one. This love of qualifications is not a new phenomenon. In an interesting article, titled ‘The growth of foreign qualification suppliers in Sri Lanka’, published in 2005, Angela W. Little and Jane Evans describe the growth of the ‘qualification marketplace’ in Sri Lanka. They found that advertisements by ‘qualification-suppliers’ in three national newspapers (Sinhala, Tamil and English) grew steeply over three decades, rising from 15 qualification-suppliers in 1965 to 153 in 2000. One can only imagine what a post-2000 study would reveal! The authors chart the rise of the qualifications industry in parallel with the economic liberalisation and economic growth that occurred post-1980. Though they did not make this link, we can connect this rise to the failure to expand higher and vocational education to a growing population and a fast-changing economy, during two decades of political upheaval. During this period, public funds for education declined, and declined even more sharply post-2000, despite large loans from international financial organisations. This is the context for both the deterioration of public education and the rise of privately-funded education, which is symbolised by the desire for a qualification, rather than an education. Qualification versus education Re-creating a society that values learning and education over a certificate of qualification would involve a protracted and difficult journey. It would require a few decades of high quality, widely-accessible education as well as moral re-socialisation: a simple-sounding solution, yet one that is very difficult to initiate and achieve. Indeed, it would be illogical to expect any kind of moral or ethical socialisation from an underfunded and damaged education system, embedded in a decaying society. The fact remains that the education sector desperately needs actual physical resources. Today, while a small proportion of schools in Sri Lanka contemplate installing computer labs, other schools are deprived of the basics; school meals, electricity, running water, uniforms, chairs, desks and books. We also need more and better paid teachers, plus national regulations and explicit minimum standards for the teaching profession, regardless of whether they are in the state, private or international sectors. A larger issue that is not discussed is that we actually do not know enough about our own education system. Our attention has for too long been focused on the state education system, resulting in a lack of attention towards other sectors, e.g., early education, private and international education. The education ecosystem in the country needs urgent study, and researchers across disciplines can contribute to this need. And while the education sector has accepted multiple donations and loans, it is not at all clear if these funds are used in a manner that best fits the purpose. In summary, it is vitally important that the fundamentals must be fixed. But we need to also re-think the way we over-estimate the value of a qualification, as against a wholesome education. A re-examination of values and ethics The fact that we value qualifications rather than an education has been apparent for a long time now. The prevalence of forged certificates and honorary doctorates is not the only indicator. Long before ChatGPT arrived, newspapers and social media were advertising ghostwriting services, i.e., the writing of assignments and dissertations for a fee. This is a business that is clearly unethical and must surely be illegal, but it is now so common that both the suppliers and their clients appear to consider it perfectly normal. We have come to value quantity over quality: two degrees simultaneously, more qualifications, promotions and rankings based on numerical criteria and so on. Start somewhere It is obvious that ethics socialisation has not happened through education in Sri Lanka. This is a major problem that has no simple or quick solution. When the Parliament that is supposed to be discussing the interim budget of a financially distressed country spends that time trading accusations with each other about each other’s educational qualifications; when an MP is unable to prove – even after a week – the qualifications he claims to possess and then imagines that it is sufficient to resign from his position but not from his seat in Parliament; when a party that has pledged immediate action on corruption-related issues takes several days to effect a resignation from a powerful position; and when the Prime Minister and Cabinet Spokesperson are angered when questioned about matters of veracity and authenticity – we know we still have a long way to go to re-socialise a population into ethical beliefs and conduct. It is not enough to prevent bribes and reduce wasteful spending. We also need to start looking at providing meaningful and broad-based public education, where learning and integrity go hand in hand. (Kaushalya Perera teaches at the Department of English, University of Colombo.) Kuppi is a politics and pedagogy happening on the margins of the lecture hall that parodies, subverts, and simultaneously reaffirms social hierarchies.Jaylen Brown scores 29 points before Celtics beat Timberwolves 107-105 with late defensive stand
WASHINGTON (AP) — Former Rep. Matt Gaetz said Friday that he will not be returning to Congress after withdrawing his name from consideration to be attorney general under President-elect Donald Trump amid growing allegations of sexual misconduct. “I’m still going to be in the fight, but it’s going to be from a new perch. I do not intend to join the 119th Congress,” Gaetz told conservative commentator Charlie Kirk, adding that he has “some other goals in life that I’m eager to pursue with my wife and my family.” The announcement comes a day after Gaetz, a Florida Republican, stepped aside from the Cabinet nomination process amid growing fallout from federal and House Ethics investigations that cast doubt on his ability to be confirmed as the nation’s chief federal law enforcement officer. The 42-year-old has vehemently denied the allegations against him. Gaetz's nomination as attorney general had stunned many career lawyers inside the Justice Department, but reflected Trump's desire to place a loyalist in a department he has marked for retribution following the criminal cases against him. Hours after Gaetz withdrew, Trump nominated Pam Bondi, the former Florida attorney general, who would come to the job with years of legal work under her belt and that other trait Trump prizes above all: loyalty. It's unclear what's next for Gaetz, who is no longer a member of the House. He surprised colleagues by resigning from Congress the same day that Trump nominated him for attorney general. Some speculated he could still be sworn into office for another two-year term on Jan. 3, given that he had just won reelection earlier this month. But Gaetz, who has been in state and national politics for 14 years, said he's done with Congress. “I think that eight years is probably enough time in the United States Congress," he said.
Joe Burrow roasted by fans for outrageous $2,200 pregame fit before Bengals-Cowboys clash READ MORE: Joe Burrow reveals he bought $3m piece of movie memorabilia By JAKE NISSE Published: 10:39 AEDT, 10 December 2024 | Updated: 11:02 AEDT, 10 December 2024 e-mail View comments Joe Burrow was roasted by NFL fans on Monday night as he pulled up to the Bengals-Cowboys game in a truly eye-catching ensemble. The quarterback donned a matching black sweater and pants with colorful stripes running across, and the outfit is believed to have set him back north of $2,000. The sweater and pants - both from Marni - cost $1,195 and $995 respectively - and fans did not hold back in criticizing the passer for his audacious look. 'His outfit reminds me of my old computer screen saver,' one wrote on X. 'He looks like the walls of a 90’s fast food restaurant,' another quipped . 'Why is Joe Burrow dressed like a laser show?,' another asked . Joe Burrow is seen arriving for the Bengals-Cowboys game on Monday Night Football Joe Burrow's Monday Night Football fit 🤩🔥 📺 #CINvsDAL | 8:15 PM ET | ESPN/ABC pic.twitter.com/1A26OZfxHd — ESPN (@espn) December 9, 2024 Burrow's outfit is believed to have cost over $2,000 - but was panned by fans A fourth fan hilariously compared the outfit to the moving walkway at Chicago's O'Hare Airport, while other fans were even meaner. 'I mean this guy is such a loser,' another said . And a fifth fan said , 'That shit is a**.' Burrow made headlines last week when he revealed that he recently treated himself to a real-life Batmobile. The quarterback was heard telling his teammates Ja'Marr Chase and Tee Higgins about the vehicle - worth a reported $3million - during the first episode of ' Hard Knocks: In Season with the AFC North' . Cincinnati Bengals Share or comment on this article: Joe Burrow roasted by fans for outrageous $2,200 pregame fit before Bengals-Cowboys clash e-mail Add comment
Labour leader Chris Hipkins is standing by his MP’s claim Health NZ Commissioner Lester Levy was “cooking the books” and is waving off the threat of legal action, despite Levy acknowledging it could be defamatory. However, Labour’s Dr Ayesha Verrall, who made the claim in select committee last week while covered by parliamentary privilege, is today refusing to repeat her allegation that Levy, a former district health board chief executive, had a “reputation for cooking the books”. Verrall’s claim followed a report by Newsroom about Levy’s attempts to include anticipated redundancy payments and Holidays Act payment remediations which were happening in the 2024/25 year in the previous year’s accounts, making deficits under the previous Health NZ board look larger and his look smaller. The Auditor-General disagreed with Health NZ’s approach and the costs of about $212 million were included in the 2024/25 year’s accounts. In select committee, Verrall highlighted Levy’s past record at three district health boards, where she claimed that he produced surpluses that turned to deficits when he left. Levy had a “reputation for cooking the books”, she said.What's New Democratic strategist Lindy Li said during a Friday appearance on Fox News that President Joe Biden "still has a bone to pick" with Representative Nancy Pelosi , a California Democrat. Newsweek has reached out to the White House and Pelosi's press team for comment via email on Sunday. Why It Matters Li, who is on the Democratic National Committee 's ( DNC ) finance committee, credited Biden's recent endorsement of a ban on congressional stock trading—a move that could affect Pelosi, whom she described as "notorious" for it— to his grievances with the former House speaker. Pelosi was reportedly influential in the behind-the-scenes efforts to encourage Biden to drop out of the 2024 presidential election nearly 100 days prior to the election. Li said the president is "still very angry that he was summarily pushed aside." What To Know Biden discussed a ban during an interview with Faiz Shakir, a political adviser for Senator Bernie Sanders , a Vermont independent, released on Tuesday night by the "More Perfect Union" channel on YouTube. "I think we should be changing the law...at the federal level [so] that nobody in the Congress should be able to make money in the stock market while they're in the Congress," Biden said. "I don't know how you look your constituents in the eye and know, because the job they gave you, gave you an inside track to make more money." Li told host Kevin Corke during her appearance on Fox News @ Night that "it took him 50 years to get to that point" as Biden has maintained that members of Congress should determine the rules regarding their ability to trade stocks. Li added that his recent commentary on the matter is because he has a "bone to pick" with Pelosi. Biden stepped down on July 21, less than a month after a debate with then-Republican nominee Donald Trump . In the debate's aftermath, many Democratic lawmakers urged the president to step aside. Pelosi never publicly called for Biden to withdraw from the race. It has been reported that Pelosi and Senate Majority Leader Chuck Schumer held private meetings with the president on the matter. Sources told the Associated Press in the days leading up to Biden dropping out that Pelosi had warned the president his candidacy could hurt Democrats up and down the ballot in November. Trump ultimately won a second term against Vice President Kamala Harris . Pelosi and Biden reportedly didn't speak for nearly three months after he stepped down. Meanwhile, the congresswoman came under scrutiny in 2022 after her husband, Paul Pelosi, made $5.3 million off Alphabet options before a House panel considered antitrust actions against the Google parent company. Nancy Pelosi denied at the time accusations that her husband traded on information she gave to him and pointed out that his options were set to expire the same day he exercised them. The former House speaker, who had an estimated net worth of $114.7 million in 2018, according to Washington, D.C.-based nonprofit OpenSecrets, has previously declined to back a stock trading ban. "We are a free-market economy. They should be able to participate in that," she told reporters in December 2021. But in February 2022, she appeared to backtrack on her position, telling reporters: "It's complicated and members will figure it out. And then we'll go forward with what the consensus is." Li also told Corke that Biden "has not been cognitively fit to assume the duties of the Oval Office for a number of years now, and it breaks my heart to say it. Because I know President Biden and I love the man." Concerns over Biden's age and cognitive capabilities came to the surface during the presidential election. Li has been critical of her party since Harris' election loss, which she called a "$1 billion disaster." Earlier this month, Li broke with her party when defending Trump's secretary of defense pick , former Fox News host Pete Hegseth. What Happens Next Biden's comments mark his most hardline stance on congressional stock trading during his time in office. His remarks may prompt support for legislation to implement stricter regulations on congressional stock trading, though with his term ending in less than a month, it remains uncertain if any action will follow. Update 12/22/24, 1:04 p.m. ET: This article's headline has been updated for clarity.
Clement Nwoji The partnership between the Central Bank of Nigeria (CBN) and Deposit Money Banks (DMBs), under the umbrella of the Bankers’ Committee, could not have been more effective than now when all the key drivers of the economy are being called upon to step up their games towards economic recovery. Since the inception of the present administration, precisely on 29th May, 2023, there is no doubt that the administration is confronted with the herculean task of economic recovery, having inherited a battered economy from the immediate past administration. In this much needed efforts towards salvaging the economy, the CBN has an indispensable role to play, taking into consideration that no nation thrives well, economically, without sound and focused monetary policies. Though a regulator, the CBN recognizes that it cannot do it alone, and this underscores the collaborative approach which, currently, defines its relationship with the Deposit Money Banks (DMBs).This is in recognition that the Deposit Money Banks, in Nigeria, are at the center of implementing the policies of the CBN across all touch points. Consequently, they bring the ‘cascade effect’ to bear on all policies of the CBN, particularly, in ensuring that the banking publics understand and appreciate the various monetary policy measures being introduced to turnaround the economic fortunes of Nigeria. In the early stage of this administration, the banks played a major role in the implementation of the continued use of both the redesigned and old naira notes. This was sequel to the Supreme Court ruling of November 29, 2023, which extended, indefinitely, the continuing use of the old naira denominations: N200, N500, and N1, 000 banknotes. The banks’ roles in making these notes available, significantly, moderated the pressures associated with the naira redesign policy.Given the preeminent role of banks in cash management, the CBN, on November 13, 2024 issued a circular on, “Mystery shopping and spot-checks on cash disbursement activities of DMBs.” The circular signed by the Ag. Director, Currency Operations Department, Solaja Mohammed Olayemi, is intended to achieve two objectives: One, “monitor and prevent practices that facilitate flow of mint notes to ‘hawkers’ of Naira cash, thereby discouraging abuse of Naira and two, to “ensure that DMBs support efficient and responsible cash disbursement to the public”.The Commercial, Merchant, and Non-Interest Banks (CMNIBs) are also at the forefront of driving financial inclusion through multiple deployment of Automatic Teller Machines (ATMs) at strategic locations including hotels, malls, hospitals, Companies’ premises, among others. This is further reinforced by the introduction of agent banking services, complemented by Point of Sale (POS) devices, in far remote areas difficult to locate traditional bank branches.Before the entry of Fintechs into the payment market, it was the commercial banks that drove the financial inclusion in the undeserved locations through Agency banking. Not a few banks are still showing strong presence in this segment of the market.It is to be noted that most Fintech companies are like ‘supper agents’ for commercial banks where they also operate accounts that are driving their payment businesses. Agent banking, apart from being cost effective, reduces pressure at the banks’ branches, simplifies banking processes, and makes banking services easily accessible. It also worthy to note that the Bankers’ Committee was a major sponsor of the 2nd International Financial Inclusion Conference held on 12-13 November 2024 at the Landmark Event Centre, Lagos. The theme of the conference was, “Inclusive Growth: Harnessing Financial Inclusion for Economic Development.” At the conference, the CBN Governor, Olayemi Cardoso, was said to have stated that among other considerations, deepening financial inclusion was one of the reasons that informed the introduction of new minimum capital thresholds for banks. This, according to the apex bank governor, is to, “ensure that banks are in a position to take on greater risks in the undeserved markets and provide more loans and financial products to MSMEs, rural communities, and other vulnerable segments The Deposit Money Banks are apparently working in sync with the apex bank in its drive to mop up excess liquidity in circulation, control inflation and redirect lending into productive investments and activities.” By this, the banks support the boosting of economic activities while at the same time targeting taming the inflationary trend currently at 33.88 per cent for the month of October, 2024. The banks are upbeat in implementation of CBN Monetary Policy Committee (MPC) decisions to see to the realisation of the target objectives. For instance, on Tuesday, November 26, 2024, the Central Bank of Nigeria Monetary Policy Rate (MPR – Interest rate at which CBN lends to Banks) to 27.50 per cent with an increase of 25 basis points from the previous rate of 27.25 per cent. It also retained Cash Reserve Ratio (CRR – mandatory amount of bank’s cash kept with the with the CBN) for deposit money banks at 50 per cent and for merchant banks at 16 per cent just as it retained the Liquidity Ratio (LR – Bank’s deposit liability that must be kept in liquid assets) at 30 per cent. Mindful of the financial and economic implications being targeted by the monetary policy decisions, the DMBs are ever conscious of complying with these CBN decisions on MPR, CRR and LR to achieve financial system stability and economic recovery. Through compliance with these CBN financial instruments: MPR, CRR and LR, the DMBs assist in controlling inflation, controlling quantity of money in circulation, maintaining financial stability, and influencing the economy positively.The important roles of the DMBs’ was recently acknowledged and commended at November, 2024 Monetary Policy Committee (MPC) meeting. In a communiqué endorsed and released by Cardoso, at the end of the meeting, he stated that: “Members noted with satisfaction the continued resilience and stability of the banking system despite significant exogenous and endogenous headwinds”.”Key financial soundness indicators such as -the Capital Adequacy Ratio (CAR), Non-Performing Loan ratio (NPL), Liquidity Ratio (LR), amongst others, remain strong.” In the management of the nation’s foreign exchange and foreign exchange transactions, it is mandatory for banks to promptly report to the CBN once such transaction is concretized for the apex bank’s knowledge and for further monitoring, should the need arise. The directive to this effect is as contained in a “Revised guidelines for the Nigeria Foreign Exchange Market (NFEM)” signed by the Director, Financial Markets Department of CBN, Dr. Omolara Omotunde Duke, released on November 29, 2024. Among other things, it specifically directs that, “All foreign exchange transactions completed by Authorised Dealers must be recorded on a processing system and reported to CBN within 10 minutes of the transaction. This includes all transactions completed with system participants on the Electronic Foreign Exchange Matching System (EFEMS), trades concluded with market counterparties on telephone and/or chat-based platforms, and customer transactions concluded through other acceptable channels. The details of all foreign exchange transactions concluded by Commercial, Merchant, and Non-Interest-Bearing Banks are required to be reported on a real time basis to CBN via APIs to the FXBRS system for effective monitoring of market activities.” Another area of collaboration is the recent November 5, 2024 “Guidelines on Implementation of the Foreign Currency Disclosure, Deposit, Repatriation and Investment Scheme to Commercial, Merchant and Non-Interest Banks (CMNIBs).” The guidelines reinforced an earlier Foreign Currency Disclosure, Deposit, Repatriation, and Investment Scheme Guidelines, 2024 (the “Scheme”), issued by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on April 8, 2024. It is an upshot of Scheme introduced through Presidential Executive Order No. 15 (Modification Notice), targeted at motivating voluntary disclosure, deposit, and repatriation of foreign currencies held by Nigerians, whether within or outside the country. CBN guidelines clarifies regulatory expectations from Commercial, Merchant, and Non-Interest Banks (CMNIBs) on their participation in the Foreign Currency Disclosure, Deposit, Repatriation, and Investment Scheme, 2024, thereby enabling banks’ play active roles in managing foreign currencies by acting as participating financial institutions, responsible for processing applications, maintaining designated accounts, and ensuring compliance with the scheme’s guidelines.The banks are, equally, spearheading the control of inflation and mopping up of excess liquidity. For instance, investigations revealed that the prevailing restrictions on amount of cash to be withdrawn either from any bank branches or from ATMs are part of measures to reducing/mopping up excess cash in circulation and encouraging cashless society. Also, the banks are gradually mopping up the old naira notes as most banks often dispense new naira notes to customers.Like in every healthy relationship, the partnership between the apex bank and the Bankers’ Committee remains ‘work in progress’. So far, there is reason to believe that they are not working at cross purposes, but assiduously reinforcing the benefits of collaboration towards the economic development of Nigeria. . Clement Nwoji is a journalist and public affairs analysts based in AbujaPlayoff game at Ohio State has sold 34% more tickets than Notre Dame game on StubHubSouth Korea's president avoids an impeachment attempt over short-lived martial law