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Monday, July 7, 2014 Vol. 1 No. 139
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Nigeria’s most authoritative newspaper in politics and business
Nyako declares work-free days to stall removal
lPDP moves to save Ngilari, nominates incoming deputy governor Ibrahim Abdul Yola
T
he Adamawa State Government yesterday resorted to subterfuge to
frustrate the plans by the state House of Assembly to impeach the Governor, Alhaji Murtala Nyako and his deputy, Mr. Bala James Ngilari.
Nyako, through his Director of Press, Mallam Ahmad Sajoh, declared today and tomorrow workfree days to enable the people engage in special
prayers for Nigeria in view of the current happenings in the country. However, it was learnt that the declaration of the public holiday was aimed
at frustrating today’s inauguration of the seven-man panel, raised by the state acting Chief Judge, Justice Ambrose Mammadi, to investigate allegations
of gross misconduct the state lawmakers levelled against Nyako and Ngilari. There were however allegations that the CJ was forced at gunpoint to constitute the panel. CONTINUED ON PAGE 2
CBN begins assessment of 14 ‘high risk’ banks
l13 Nigerian banks among top 1,000 world’s lenders Ayodele Aminu
T
he Central Bank of Nigeria (CBN) will today begin riskbased supervision of 14 banks regarded as “high risk banks.” The banks, which the central bank’s examiners will scrutinise their books are First Bank of Nigeria
Plc, Ecobank of Nigeria Plc, First City Monument Bank Plc, Diamond Bank Plc, Wema Bank Plc, Skye Bank Plc and Heritage Bank. Others are United Bank of Nigeria Plc, Fidelity Bank Plc, Unity Bank Plc, Sterling Bank Plc, Mainstreet Bank Limited, Enterprise Bank Limited and
Keystone Bank Limited. The other banks not included on this list, such as Citibank Nigeria, Stanbic IBTC Bank Plc, Rand Merchant Bank, Guaranty Trust Bank Plc, Zenith Bank Plc, Standard and Union Bank of Nigeria Plc, are not “high risk banks,”
a source said yesterday. The CBN official, however, added that this did not mean that they were healthier or better than that those termed “high risk”. Risk-based supervision is a structured approach, which focuses on risk pro-
file of banks as opposed to the age-long compliancebased supervision mechanism and regulatory approach (one size fits all), whose level of supervision is the same for all banks irrespective of the size and the type of risk they take. Whereas, under risk-
based supervision, which was first implemented in 2006 after the first phase of the banking sector reform that led to the emergence of 25 consolidated banks, out of the 89 banks, level of supervision depends on banks’ risk appetite, CONTINUED ON PAGE 3
PDP, Oshiomhole bicker over Edo Assembly crisis Onyekachi Eze and Cajetan Mmuta
T
he Peoples Democratic Party (PDP) and Edo State Governor, Mr. Adams Oshiomhole, yesterday engaged in altercation over the crisis rocking the state legislature. The PDP accused the
16 years after Abiola’s death }13-17
governor of sponsoring the crisis to prevent an impending probe into his management of public funds. But in a quick rebuttal, Oshiomhole dismissed the allegation, which he described as “fabricated tales from the moonlight.” The state legislature has been plunged into a crisis as fallout of the upheaval in the ruling All Progressives Congress (APC) that made some lawmakers to defect to the PDP. CONTINUED ON PAGE 2
Lagos
Storms
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L-R: Kenyan President Uhuru Kenyatta; Chairman, Heirs Holdings, Mr. Tony Elumelu and Permanent Secretary, Rwanda Ministry of Trade and Industry, Mr. Emmanuel Hategeka, during the formal launch of the East Africa Exchange (EAX) in Kigali, Rwanda...at the weekend
FG plans access fees to view television content
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