First Bank Leads, As CBN Sells $669m to Banks in April Removal of forex controls hurts Argentina’s economy, fuels protest
Obinna Chima
of foreign exchange (forex) to end users in the economy, returns on forex utilisation published by commercial and merchant banks have shown that it allocated a total of
As the Central Bank of Nigeria (CBN) continues with its demand management in the allocation
$669,405,241 in April. The sum compiled by THISDAY was $251,947 lower than the $921,352,549 sold to banks in March. But the CBN remained
unable to adequately meet the dollar demands of banks on behalf of their customers, as the central bank continued to refund banks for huge volumes of unfulfilled bids
at the weekly forex auctions. Forex demand in April covered importation requirements for fuel, spare parts, machinery and equipment, repatriation of capital, air
ticket remittances, payments for foreign loans, school fees, personal and business travel allowances. Continued on page 11
Kogi Asks Supreme Court to Nullify House Resolution on Take over of State Assembly… Page 12 Monday 2 May, 2016 Vol 21. No 7648. Price: N250
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TODAY'S WEATHER
ABUJA 16°C-33°C
MAIDUGURI 15°C-35°C
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& RE A S O
ENUGU 22°C-34°C
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KANO 11°C-33°C
LAGOS 23C-31°C
PORT HARCOURT 20°C-30°C
Accommodation Crisis Hits Buhari’s Ministers Many reside in dingy hotels, ask for N20m to rent secure, fit and proper homes in Abuja
Iyobosa Uwugiaren in Abuja Six months after President Muhammadu Buhari swore in his ministers, most of them have still not settled down in Abuja and are groaning because the N4 million approved by the president as their yearly accommodation allowance have not been able to rent
any meaningful house in Abuja, THISDAY has learnt. The N4 million, THISDAY findings reviewed, can only rent flats and not homes, and giving the need for security, those flats which have many other tenants in the building, are not secure or fit for purpose. Continued on page 10
THISDAY DELIVERS JOURNALISM OF VALUE: HOME AND DESIGN MAGAZINE INSIDE
ALUTA CONTINUA…
L-R: President of the Trade Union Congress (TUC), Mr. Bobboi Bala Kaigama; Minister of the Federal Capital Territory (FCT), Mr. Mohammed Bello; and President of the Nigeria Labour Congress (NLC), Mr. Ayuba Wabba, at the Workers’ Day rally in Eagle Square, Abuja… yesterday. See stories on pages 10,51,52&58 adeboye kingsley