Saturday 9th April 2016

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Morgan Stanley Index May Exclude Nigeria from Emerging Markets over Capital Controls Obinna Chima Index provider, Morgan Stanley Capital International (MSCI) is seeking feedback from investors on the ease of access to the Nigerian equity market, a move that could lead to the country being excluded from MSCI's

Frontier Markets index. The consultation followed the introduction of restrictions on foreign currency trading, MSCI said in a statement, adding that it would announce its decision on or before April 29. The MSCI Emerging Markets Index was designed to measure equity market performance

in global emerging markets. It is a float-adjusted market capitalisation index that consists of indices in 21 emerging economies. Nigeria, Africa's biggest economy, is facing its worst crisis in decades as the falling price of oil has slashed revenues, prompting the central

bank to peg the currency and introduce curbs to protect foreign exchange reserves, which have fallen to 11-year lows. The International Monetary Fund had called on Nigeria to lift the curbs and let the naira currency reflect market forces more closely, as the restrictions

have significantly affected the private sector. This had also led to the removal of Nigeria from JP Morgan's Government Bond Index-Emerging Markets as well as from Barclays index. “Nigeria will be removed from the flagship Emerging Markets Local Currency Gov-

ernment Index as of February 1, 2016,” MSCI said in a statement, adding that the debt would continue to be eligible for its broader Emerging Markets Local Currency Government Universal Index. However, Reuters quoted Continued on page 6

Bayelsa Stands Still for Alamieyeseigha, Jonathan Pays Tribute ...Page 6 Saturday 9 April, 2016 Vol 21. No 7647 Price: N150

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Bloodbath Averted: Five Female Suicide Bombers Killed in Maiduguri Air Force Chief: Military at tail end of operation in North-east

Michael Olugbode in Maiduguri, Senator Iroegbu, Adedayo Akinwale and Nosa Enobhayisobo in Abuja

What could have been a black Friday was yesterday averted in Maiduguri as five female suicide bombers were intercepted by members of the youth vigilante group, popularly called Civilian

JTF in Borno State. However, a similar statement from the military claimed soldiers were the ones that intercepted the suicide bombers and neutralised them with injuries to three of their men while unexploded improvised Explosive Devices were safely detonated. In a related development, the Chief of Air Staff (CAS),

Air Marshal Sadique Abubakar yesterday expressed joy with the progress made in the war against Boko Haram and added that the Military was at tail end of the anti-terrorism operation in North-east. Speaking toTHISDAY on the averted attack in Maiduguri, the spokesman of the youth vigilante group, Barrister Jubrin Gunda said the five suicide

bombers were intercepted at about 5:20 am trying to gain entry into the town. He said members of youth vigilante group had prior intelligence that there would be suicide bomb attacks in Maiduguri and as such, beefed up security around the troubled town. He said the suicide bombers were sighted at the outskirts of

the town around Polo and Giwa Barrack areas and were shot dead by the youth vigilantes. Gunda also revealed that they did not come in at once but at different times and since they did not stop to be searched by the vigilante, they had to be shot. He lamented that three of the vigilantes suffered serious injuries during the attack and

SuperSaturday pg. 8-9

Yemi Adebowale in Lagos, Tobi Soniyi in Abuja and Olakiitan Victor in Ado Ekiti

Continued on page 6

Continued on page 6

CASSANDRA IWULE I Aspire to be Miss World or Miss Universe

FEC Meets, Reviews Budget Details Vice President Yemi Osinbajo yesterday presided over the emergency meeting of the Federal Executive Council (FEC) to scrutinise the 2016 budget details forwarded to the Presidency by the National Assembly on Thursday. President Muhammadu Buhari who had earlier summoned the meeting was however conspicuosly absent. Also yesterday, Ekiti State Governor, Ayodele Fayose warned the President against

had to be taken to the hospital. "Three of our boys had injuries from the attacks and are presently on admission at the hospital. We were happy that the five female suicide bombers that wanted to sneak into the town to cause havoc were killed. He added that: "We were

HASSAN BALA I Will Reposition Learn Africa and Lead by Example

Plus pg. 17

ALL EX-KC STUDENTS AT FEC

L-R: National Security Adviser Babagana Monguno, Minister of Agriculture Chief Audu Ogbeh and Minister of Budget and National Planning, Senator Udo Udoma Udo at the Emergency Federal Executive Council meeting held at the Council Chambers of the Presidential Villa, Abuja …yesterday Godwin Omoigui

UNILAG Shut Following Lingering Fuel, Electricity Crisis ...Page 6


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