@Gbengabig

Wednesday, 3 January 2018

Police arrest eight herdsmen over death of 17 persons in Benue

Detectives in Benue State Police Command have arrested eight herdsmen over the death of 10 persons and seven livestock guards in Guma and Logo Local Governments of the state on Monday.

The Police Public Relations Officer in the state, ASP Moses Yamu, announced this on Wednesday in Makurdi.

“ Eight herdsmen, six in Guma and two in Logo, had been arrested in connection with the attacks,” the police spokesman said.

He added that the command had made additional deployments to the troubled area to forestall further occurrence and restore confidence of the people.

Yamu stressed the situation in the two local government areas had been brought under control while investigation was ongoing.

He said: “They attacked Tomater village in Sengev Council ward, Akor village in Nzorov council ward and Bakin Kwata village in Umanger council ward of Guma LGA.

“ Among those killed were seven (7) members of Benue State Livestock Guards, their vehicle burnt and an uncertain number of persons injured in separate attacks between 31/12/2017 and 02/01/2018.

“ Again, Agba-Uko near Azege village and Tse-Aga village of Logo LGA experienced the same fate, where one person was killed, one motorcycle burnt and four persons injured.

“ All the injured from both LGAs are currently undergoing treatment in various hospitals in the State.”

According to him, five combined teams of mobile and conventional policemen led by Assistant Commissioner of Police, Operations, ACP Emmanuel Adesina have engaged the armed herdsmen in a gun duel in Guma.

The Benue Anti-Open Grazing Law came into effect on November 1, 2017 to forestall attacks on Benue communities by suspected herders.
The law stipulates five year jail term or an option of N1 million fine for violators.

The attack is the first by suspected herdsmen since the law came into effect.

Total Deposits With CBN Rise To N20.6trn

The Central Bank of Nigeria (CBN) has revealed that total deposits by the federal, state governments, financial institutions, among others increased by 4.7 per cent to N20.6 trillion in November from N19.67 trillion in October 2017.

The CBN, performing one of its key mandate as government banker, also keep financial institutions’ deposits via its Cash Reserve Ratio (CRR), among other financial instruments to maintain capital flow in the sector.

The Monthly Statement of Assets and Liabilities published by the CBN on its official website disclosed that deposit from federal and state governments rose by 1.6 per cent to N904.6 billion in November from N889.9 billion in October 2017.

According to CBN unaudited financial results and operations, financial institutions deposit dropped by nearly two per cent from N3.64 trillion in October to N3.57 trillion in November.

‘Other deposits’ in the month under review thus increased by 6.5 per cent from N15.14 trillion in October to N16.1 trillion in November.

According to the data by CBN, Foreign Government Securities and current account balances with Foreign Banks as at November 2017 moved to N1.667 billion in November from N1.663 billion in October while fixed assets remained unchanged at N458.6 billion.

The total external reserve increased by 9.1 per cent from N11.6 trillion in October to N12.6 trillion in November at which Convertible Currencies contributed 105 per cent.

The breakdown according to CBN revealed that convertible currencies hit N12 trillion in November from N10.96 trillion in October while Special Drawing Rights remained unchanged at N631.7 billion.

Also, assets on Gold and International Monetary Fund (IMF) Gold Tranche remain flat at N19 billion and N22.6 billion respectively. In all, Total Equity & Liabilities, according to CBN gained 5.8 per cent to N25 trillion from N23.8 trillion in October.

Meanwhile, Nigerians returning to their bases in Europe after the yuletide and students making school fees payments forced the naira to slip against pound sterling and euro yesterday at the parallel market segment of the foreign exchange market despite slow trading.

The pound sterling closed at N485 from N482 it opened for trading and the euro at N427 from N426 it closed for trading on Tuesday respectively.

At the official foreign exchange market, the naira remained flat at N305.50 against the dollar, the same rate it sold on Tuesday when the foreign exchange market opened for 2018 trading activities.

However, better than N306 exchanged against the dollar on the last trading day in 2017, as well as N306.10 and N306.15 traded during the last trading week of 2017.

The naira, reciprocated similar feat over the dollar on Wednesday when it sustained appreciated rate of N363 per dollar against N364 sold a week ago at the unofficial segment of the foreign exchange market.

Also, the Investors and Exporters (I&E) foreign exchange window opened at an app rate of 359.85 against N360.05 recorded on Wednesday, but traded high at N362.00 and eventually closed at N361.00, the same price settled the previous day.

The Investors & Exporters foreign window, however, declared weaker daily transactions turnover of $124.24 million, compared to $200.36 million recorded on Tuesday. Foreign exchange traders, however, believed that the Nigeria’s local currency will be stable in the first trading week of 2018, in anticipation that the apex bank would continue to support the naira through its regular interventions of injection of dollars into the market.

By By KAYODE TOKEDE

Read More at: https://leadership.ng/2018/01/04/total-deposits-cbn-rise-n20-6trn/

NNPC Orders Assessment Of Escravos-Lagos Pipeline Fire

The Nigerian National Petroleum Corporation (NNPC) Group Managing Director, Dr. Maikanti Baru, has ordered an immediate assessment of the damage caused by a fire on the Escarvos to Lagos Pipeline (ELP), a natural gas pipeline which supplies gas from Escravos region of the Niger Delta area to Lagos.

This was contained in a statement signed by Ndu Ughamadu.It also states that the exercise will affect gas supply to customers in Ondo, Ogun and Lagos State with subsequent shutdown of the following power plants with a combined generating capacity of 1,143MW: Egbin, Lagos, Olorunshogo, PEL Olorunshogo, Ogun, Paras Power Plant, Ogun and Omotosho plant, Ondo State.

It would be recalled that a pipeline carrying natural gas from Escravos region of the Niger Delta area to Lagos was engulfed by fire on Tuesday evening.

The pipeline also supplies gas to power plants in the South West, in addition to feeding the West Africa Gas Pipeline System.

The incineration of the ELP, which was built in 1989, was suspected to have been caused by a bush fire January 2, 2018 at Abakila, in Ondo State.

NNPC firemen were said to have been drafted to the scene and were able to contain the fire from the leak point of the pipeline incident. However, the fire could not be extinguished due to the high pressure of the line.

To put off the fire, the line would require being isolated and depressurized, which might lead to a complete shutdown of the pipeline segment for repair works to be carried out.

Also, in a related development, the Transmission Company of Nigeria (TCN) and the electricity generating companies (GenCos) said effort is on to restore the grid after it was shut down as a result of the fire incident appealing for patience from the Nigerian public.

According to a press statement by the Ministry of Power, Works and Housing, the Nigerian Gas Processing and Transportation Company Ltd (NGPTC) reported the fire incident which necessitated shutdown of the pipeline supplying gas to Egbin 1,320MW; Olorunsogo NIPP 676MW, Olorunsogo 338MW, Omotosho NIPP 450MW, Omotosho 338 MW and Paras 60MW power stations.

The sudden loss of generation due to interruption in gas supply from these stations caused the national transmission grid to trip off.

Most of Nigeria’s power generation is from thermal power stations that require gas for fuel.

The gas is produced by oil and gas companies overseen by the Ministry of Petroleum Resources. The gas is delivered to the power stations through pipelines owned and operated by Nigerian Gas Processing and Transportation Company Ltd (NGPTC), a subsidiary of Nigerian National Petroleum Company (NNPC).

“TCN and the generation companies are working to restore operation of the national grid. Once the national grid is restored output from the hydroelectric power stations and all other unaffected gas fired thermal power stations will be increased to the extent possible to minimise the impact of loss of generation from the affected power stations while NNPC takes necessary steps to restore gas supply.

“We urge members of the public to bear with us as we work to overcome this set back which should be temporary,” the statement noted.

Meanwhile, the managing director of the TCN, Usman Mohammed, speaking yesterday in an interview with Channels Television news at 10 said the power sector recorded another trip in the system shortly after efforts to restore power after the outage following fire on the Escravos-Lagos gas pipeline.

He said in the attempt to restore electricity the system encountered another collapse which engineers are trying to rectify assuring that normalcy would be restored in few hours.

Mohammed further said that enormous funding has gone into strengthening transmission capacity in the sector where he said that about $4 billion have been earmarked to expand its wheeling capacity to about 20 mega watts in the next 4 to 5 years.

Monday, 1 January 2018

2018: Adeboye Prophesies Hope For Nigeria

General Overseer, Redeemed Christian Church of God, RCCG, Pastor Enoch Adeboye has prophesied hope for Nigeria in 2018.

Speaking at the Crossover Service at the Redemption Camp, Lagos-Ibadan Expressway early Monday morning, Adeboye prophesied that before the end of 2018, there would be rays of hope that all would still be well.

The man of God also prophesied that significant Goliath would fall this year and that erstwhile stubborn mountains would move before the children of God.

On the international scene, Adeboye said there would be less fire outbreaks, but more floods globally.

He also prophesied that there would be misunderstandings among nations of the world, but said there would be no war, while calling for prayers against assassination attempts globally.

On the individual level, the man of God said “many people will wake up to realize that their future is not in the hands of any government, a lot of lost grounds will be reclaimed. Saboteurs will be disgraced and dismissed.”

INTENATIONAL:
1. This year, there will be less fire outbreaks but there will be more floods!!!
2. There will be misunderstandings among nations but no major Major War!!!
3. Pray against assassination attempts globally.
4. There will be record breaking temperatures, both High and Low.
5. There will be a handful of breakthroughs both scientific and medical this year.
6. The countdown to the end has started.

NIGERIA:
1. Significant “Goliath” would fall!!!
2. Before the end of the year, there will be rays of hope; that all will still be well!!!

INDIVIDUAL:
1. Erstwhile stubborn mountains will move!!!
2. Many people will wake up to realise that their future is not in the hand of any government, and as a result, a lot of lost grounds will be reclaimed!!!
3. Saboteurs will be disgraced and displaced!!!
Countdown to the end ha

However, during his sermon, Adeboye said this year would “be your best so far in Jesus Name, Amen. In the Name that is above every other name, you will be world shakers.

“The Devil knows it that you are more than a conqueror. One of the biggest problems of children of God is that the Devil believes God more than them.”

9mobile sale deadline extended by 16 days

The sale process of 9mobile will now be concluded on January 16, 2018 following an approval of the extension of the deadline by the Nigerian Communications Commission (NCC), TheCable can report.

The previous deadline of December 31, 2017 could not be met, as earlier reported by Technology Times, the authoritative online ICT newspaper.

This necessitated a request for extension by the board of directors of Emerging Markets Telecoms Services Ltd, owners of the 9mobile licence.

In a letter to Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), seen by TheCable, Umar Danbatta, executive vice chairman of NCC, acknowledged the risk posed by the year-end deadline for submission of binding offers by prospective bidders for the purchase of 9mobile.

Umar wrote: “The Commission is in receipt of a letter dated 29th November 2017 by which the Board of Directors of Emerging Markets Telecoms Services Ltd. (9Mobile) requested for an extension of the deadline for the submission of binding offers by prospective bidders from 31st December 2017 to 16th of January 2018.

“Having carefully considered the reasons given for the proposed extension in the letter under reference, the Commission confirms that it has no objection to the request and that the extension can be communicated to the Company.

“We thank you for your kind consideration.”

The company formerly known as Etisalat Nigeria was taken over in July 2017 following a N541 billion debt 0verhang.

Mubadala Group, the major investor from the United Arab Emirates, pulled out of Nigeria’s fourth largest mobile operator as a result of the debt owed to a consortium of 13 banks.

9mobile is being prepared for sale by Barclays Africa.

Five bidders have made the final list of potential buyers: Teleology Holdings Limited, promoted by Adrian Wood, the pioneer CEO of MTN Nigeria; Smile Telecoms Holdings, a telco operating in Nigeria, Tanzania, Uganda, Congo DR and South Africa; and Helios Investment Partners LLP, an investment company.

Others are Bharti Airtel, an Indian telco that owns Airtel Nigeria, and Globacom, the Nigerian company owned by Mike Adenuga Jnr.

The telecom regulator, NCC, and the banking watchdog, CBN, are expected to play a key role in the final decision.

Buhari Set to Stop Rice Importation This Year, Speaks On Infrastructure, Restructuring

President Muhammadu Buhari has announced that Nigeria will stop importing rice this year.
He also revealed in his New Year address to the nation today how government would end power problem in Nigeria by the end of his likely second term in 2023.
Here is the full text of the President’s address on national television – NTA:
I join my fellow citizens this morning to welcome and celebrate the New Year 2018. This year promises to be pivotal in our quest for CHANGE.
Unfortunately, I am saddened to acknowledge that for many this Christmas and New Year holidays have been anything but merry and happy. Instead of showing love, companionship and charity, some of our compatriots chose this period to inflict severe hardship on us all by creating unnecessary fuel scarcity across the country.
The consequence was that not many could travel and the few who did had to pay exorbitant transport fares. This is unacceptable given that NNPC had taken measures to ensure availability at all depots. I am determined to get to the root of this collective blackmail of all Nigerians and ensure that whichever groups are behind this manipulated hardship will be prevented from doing so again.
Such unpatriotism will not divert the Administration from the course we have set ourselves. Our government’s watch word and policy thrust is CHANGE. We must change our way of doing things or we will stagnate and be left behind in the race to lift our people out of poverty and into prosperity.
My address to fellow Nigerians this morning is devoted mainly to informing you about the intense efforts this Administration is putting to address our country’s huge infrastructural deficit.
We are going to make significant in-roads in advancing road, rail and power projects across the country.
The Ministry of Power, Works and Housing is one of the drivers of this Government’s commitment to renew and increase Nigeria’s stock of infrastructure in order to achieve global economic competitiveness as targeted under the Economic Recovery and Growth Plan.
With regards to Railways, we have set ourselves ambitious targets. Already in construction stage is the Lagos-Kano Standard Gauge Railway.
The line should reach Ibadan from Lagos by the end of 2019 and will carry two million passengers per year and five million tons of cargo will be transported every year giving a substantial boost to the country’s economy.
Construction of the Kano – Kaduna segment is expected to commence this year and reach Kaduna by the end of 2019. By the end of 2021 the two ends will be joined so that we will have standard gauge railway across the main North-South trading route.
The Abuja – Kaduna route will be boosted by additional rolling stock next Thursday and will be able to handle one million commuters annually.
At the same time I have approved and negotiations will be concluded in the first part of this year for the Port Harcourt to Maiduguri line covering Aba, Owerri, Umuahia, Enugu, Awka, Abakaliki, Makurdi, Lafia, Jos, Bauchi, Gombe, Yola and Damaturu. The Abuja to Itakpe line will go through Baro and terminate in Warri with construction of a new seaport at Warri.
Negotiations are also advanced for the construction of other railway lines, firstly from Kano to Maradi in Niger Republic passing through Kazaure, Daura, Katsina, Jibia to Maradi.
Secondly, Lagos to Calabar the “Coastal Rail” through Ore, Benin, Agbor, Asaba, Onitsha, Sapele, Ughelli, Warri, Yenagoa, Otuoke, Port Harcourt, Aba, Uyo and Calabar. In the next few years, all these Nigerian cities will be linked by functional modern rail systems, giving enormous boost to the social and economic life of our people.
With respect to the Abuja Capital Light Rail, progress has reached 98% completion, as at 64% completion when we assumed office. Only test runs remain before start of operations.
This train service will stimulate economic activities in the Federal Capital and provide residents with an efficient and safe transportation system. Twelve railway sub-stations around the capital over a 45.2 kilometre route will serve as a catalyst and a pull factor to the economy of the area. The Light Rail System will reduce traffic congestion and carbon emission in line with the Administration’s policy on climate change.
Management of the Federal Road Maintenance Agency (FERMA) has been reconstituted and has been charged with a 12 week rapid intervention in road repairs to cover all the geo-political zones. Government is undertaking repairs and maintenance of 44 roads within the six geo-political zones.
Twenty five major highways will be funded under the N100b SUKUK facility. Each geo-political zone will benefit by an equal amount of N16.67b. The following major highways are to receive special attention:
a. Oyo – Ogbomosho,
b. Ofusu – Ore – Ajebandele – Shagamu,
c. Yenagoa Road Junction – Kolo Otuoke – Bayelsa Palm,
d. Enugu – Port Harcourt Dual Carriage Way,
e. Onitsha – Enugu Expressway,
f. Kaduna Eastern Bypass,
g. Dualization of Kano – Maiduguri Road,
h. Dualization of Abuja – Lokoja – Benin Road,
i. Dualization of Suleja – Minna Road.
In addition, Government has approved work to start on the re-construction of Abuja – Kaduna – Zaria – Kano road which is in a state of disrepair. Work will soon start and is expected to be completed in 2019.
More Nigerians across the country are experiencing improved power supply to their homes and businesses. However, power remains a concern to this government because too many people still do not have regular and reliable supply.
The Payment Assurance Guarantee Scheme which started in January 2016 has enabled the Nigerian Bulk Electricity Trader to raise so far N701 billion to assure Generation Companies of at least 80% payment for any power delivered to the national grid.
Consequently, generation has now reached 7,000MW. On December 8, 2017 the country achieved 5,155MW of power delivered to consumers, the highest level ever recorded.
Several moribund projects have been revived. Repairs of Afam Power Station added 110MW in 2017 and another 240MW will be added this year through a private investment partnership.
Katsina Power Project is now being tested and producing 10MW of power from wind for the first time in Nigeria. It should be fully operational this year.
The Zungeru 700MW Hydroelectric Power Project, stalled by court cases is due for completion in 2019. The transmission and other requirements to operate the 30MW Gurara Phase 1 Hydroelectric Plant, the 40MW Kashimbilla Hydroelectric Plant and the 215 MW Kaduna Gas/LPG/Diesel Power Plant will also be completed this year.
A landmark project, Mambilla Hydroelectric Power Project is at last taking off. This project has been on the drawing Board for 40 years, but now the engineering, procurement and construction contract for the 3,050MW project has been agreed with a Chinese joint venture Company with a financing commitment from the government of China. Completion is targeted for 2023.
As I mentioned earlier, the Transmission Company of Nigeria can now distribute all the 7,000MW that can be generated. TCN and the Niger Delta Holding Company have added 1,950MVA of 330 down to 132KV transformer capacity of 10 transmission stations and 2,930MVA of 132 down to 33KV transformer capacity of 42 sub-stations including Ikot Ekpene, Aba, Alagbon, Ajah, Ejigbo, Funtua and Zaria.
This Administration is working with the privatised distribution Companies to overcome the continuing challenges of distribution.
These massive public works should spearhead the recovery and lead millions back to employment. You will recall that it was not until last year that we got out of the economic recession into which the country had fallen as a consequence of past unsustainable economic policies which projected short-term illusory growth.
The government is slowly stabilizing the economy.
It was in order to change the steady and steep decline that we adopted the more sustainable policies and programmes captured in the Economic Recovery Plan. Diversification efforts have resulted in improved output particularly in agriculture and solid minerals sectors. The relative exchange rate stability has improved manufacturing sector performance.
We have got to get used to discipline and direction in economic management. The days of business as usual are numbered.
Two years ago I appealed to people to go back to the land. I am highly gratified that agriculture has picked up, contributing to the government’s effort to re-structure the economy. Rice imports will stop this year. Local rice, fresher and more nutritious will be on our dishes from now on.
By the same token, I am today appealing to enterprising Nigerians with ideas and unemployed graduates and other able-bodied and literate men and women with ideas not to just sit and wait for employment from the government or the Organized Private Sector. Great nations are built by enterprising people who turn their hands to anything that circumstances dictate.
In respect of political developments, I have kept a close watch on the on-going debate about “Restructuring”. No human law or edifice is perfect. Whatever structure we develop must periodically be perfected according to changing circumstances and the country’s socio-economic developments. We Nigerians can be very impatient and want to improve our conditions faster than may be possible considering our resources and capabilities. When all the aggregates of nationwide opinions are considered, my firm view is that our problems are more to do with process than structure.
We tried the Parliamentary system: we jettisoned it. Now there are shrill cries for a return to the Parliamentary structure. In older democracies these systems took centuries to evolve so we cannot expect a copied system to fit neatly our purposes. We must give a long period of trial and improvement before the system we have adopted is anywhere near fit for purpose.
However, there is a strong case for a closer look at the cost of government and for the public services long used to extravagance, waste and corruption to change for the better. I assure you that government is ever receptive to ideas which will improve governance and contribute to the country’s peace and stability.
As the electioneering season approaches politicians must avoid exploiting ethnicity and religion by linking ethnicity with religion and religion with politics. Such must be avoided at all costs if we are to live in harmony.
In this respect the rest of Nigeria could learn from the South Western States who have successfully internalized religion, ethnicity and politics.
Political discourse should be conducted with civility, decorum and in a constitutional manner. We all have a collective responsibility to strengthen our democracy and entrench the rule of law. We should draw encouragement from the series of bye-elections conducted by INEC last year which were generally violence free and their outcomes adjudged to be free and fair.
Before I conclude my address I must reassure my fellow citizens that security of life and property is still top of our government’s agenda. We have since beaten Boko Haram. Isolated attacks still occur, but even the best-policed countries cannot prevent determined criminals from committing terrible acts of terror as we have seen during the past years in Europe, Asia, Middle East, elsewhere in Africa and in America.
Our government remains determined to protect all Nigerians in line with our election pledge and promises. On behalf of all Nigerians let me offer our thanks to the Armed forces, the Police, other para-military forces and traditional authorities who are working round the clock to ensure that you and I go about our normal business in reasonable safety.
Terrorism and urban crimes are world-wide phenomena and our security forces are continuously adapting their responses to changing threats.
With regard to rampant cases of kidnappings, we are taking immediate short-term measures to combat this new evil creeping into our societies. Tighter police methods and swift and severe punishment for those proved to be engaged in kidnapping are on the way.
With respect to Niger Delta, Government is still engaging responsible leadership of the Communities to help in identifying and addressing genuine grievances of the region. Our clean-up programme in collaboration with the United Nations is making satisfactory progress.
I am grateful to all the Governors and other Political & Community leaders of the Niger Delta States for their part in bringing relative peace to the areas.
Finally let me again express my heartfelt thanks to all Nigerians who prayed for me during my illness last year. I feel deeply humbled by your prayers and good wishes and I am more determined than ever to serve you to the best of my ability.
Good morning. And I wish everyone a Happy New Year.

Reserves Gain $12.9bn In 1 Year

The nation’s foreign exchange buffer added $12.9 billion or nearly 50 per cent in one year amid weekly intervention of the Central Bank of Nigeria (CBN).

The foreign reserves monitored by CBN opened 2017 at $25.84 billion and grew to $38.73 billion as at December 28, 2017.

The foreign exchange had reached its bottom at about $23.6 billion in October 2016 from as high as $40 billion in January 2014.

In September 2008, Nigeria’s foreign exchange reserves hit $62 billion, with federal government spending $12 billion to settle external debts.

CBN governor, Mr. Godwin Emefiele, in November said, “It is my belief that if we remain resolute with our efforts, policies and actions we can attain foreign exchange reserve position of about $40 billion by end 2018”.

Emefiele, in December, disclosed that the nation’s foreign reserves had risen to $38.2 billion, the highest in 39 months. Finance analysts said Nigeria’s foreign reserve ought to have crossed the $40 billion mark in 2017 but impinged by CBN’s creation of special windows to tackle instability in the foreign exchange market.

They believe that this development is renewing confidence that the 2018 foreign reserves target of the CBN put at $40 billion is achievable, as the apex bank steps up its management of foreign exchange earnings.

They noted that steady increase in the global oil prices had contributed to the appreciation recorded in the nation’s foreign reserves, as international trade also impacted on the foreign exchange buffer of the apex bank.

In November 2017, the federal government had raised a total sum of $3 billion through Eurobonds, which was oversubscribed by about $11 billion and split across 10-year and 30-year tranches at issuance yield of 6.5 per cent and 7.625 per cent respectively.

Also, increased inflow from Diaspora remittances is also said to have contributed immensely to Africa’s largest economy foreign reserves.

The breakdown of the latest figure showed that the reserves, in just one month gained total sum of $3.8 billion between November 30, 2017, closing figure of $34.9 billion and December 28, 2017 balance figure of $38.7 billion.

The CBN latest statistics showed that a week earlier, as of December 22, Nigeria’s foreign reserves stood at $37.92 billion, representing 10.1 per cent from a month earlier.

It however stood at $34.53 billion as of November 24, up nearly 3 per cent from a month earlier, with a balance of $33.58 billion at the same date in October, representing 40.5 per cent compared to the balance in the corresponding period in 2016.

Further checks revealed that the nation’s external reserves under the supervision of the CBN recorded a whopping $8 billion between January and October of the year under review.

The figure showed that during the 10 months considered, the foreign reserves increased by 30.9 per cent, with an opening figure of $25.84 before closing at $33.83 billion on October 31, 2017.

There has been steady increase in global oil prices and increased activity in the Investor and Exporter foreign exchange window.