Despite FX Scarcity, Naira Plunging to $400/$, Pilgrims to Get Dollars at N197 Obinna Chima Despite the shortage of foreign exchange in the country and continuing slide of the naira on the parallel market, the Central Bank of Nigeria (CBN) yesterday announced the federal government’s
approval of N197 to the dollar for intending pilgrims travelling for the 2016 hajj in Saudi Arabia. The naira shed N10 yesterday to close at N400 to the dollar, compared to N390 to the dollar from the previous day.
The naira also fell on the interbank market closing at N315.06 to the dollar, lower than N311.03 to the dollar from the previous day. The central bank, in a circular addressed to all authorised dealers and the general public, said each
intending pilgrims would be entitled to purchase a minimum of $750 and maximum of $1,000 as Pilgrim Travelling Allowance (PTA). “No commission shall be charged by the banks for the sale of PTA to the intending pilgrims. The CBN shall sell
the PTA to the designated banks in Lagos and Abuja and the accounts of the respective banks shall be debited as soon as the funds are disbursed. “Each designated bank is required to sell to the CBN the unutilised funds not later than two weeks from the date
of the last inward flight to Nigeria from Jedda, while the account of the bank shall be credited promptly,” it said in the circular. Commenting on the naira pressure on the parallel market Continued on page 8
Aisha Buhari’s Pricey Croc Hermes Bag Causes Social Media Storm ...
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Friday 5 August, 2016 Vol 21. No 7770. Price: N250
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TODAY'S WEATHER
ABUJA 16°C-33°C
MAIDUGURI 15°C-35°C
UT H
& 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
NSA Accuses Indorama, Notore of Sabotaging National Security
Another firm blacklisted, licence withdrawn for diverting 9,000kg of explosives Five security officials, others arrested Senator Iroegbu in Abuja The National Security Adviser, Maj.-Gen. Babagana Monguno, has accused two of the country’s foremost fertilizer manufacturers – Notore Petrochemical and Indorama Eleme Petrochemical – of sabotaging national security and the economy by being
conduits through which insurgents, especially Boko Haram terrorists and Niger Delta militants, obtain explosive materials in order to wreck havoc across the country. This is just as the Nigerian security and intelligence Continued on page 8
US Declares Borno, Adamawa, Rivers, Imo, 16 Other States Unsafe
Zacheaus Somorin with agency report
The United States government, in its latest travel advisory to its citizens living in Nigeria, has listed 20 of Nigeria’s 36 states as unsafe and advised them to stay away from them. Among the 20, it cited Borno, Adamawa and Yobe as complete no-go areas as
“the ability of the US Mission to provide assistance to US citizens” in those states remains severely limited. The travel warning published on Wednesday on the website of the U.S. Department of State, replaced an earlier one of last February, reported Afrique News Continued on page 8
Buhari Solicits Support of Ogoni for Clean-up Exercise... Page 10
LEADWAY SENDS OFF ITS DIRECTORS
L-R: Managing Director/CEO, Leadway Assurance Company Limited, Mr. Oye Hassan-Odukle; Managing Partner, Olaniwon Ajayi LP, Prof. Konyinsola Ajayi (SAN); Chairman, Seplat Petroleum Plc, Dr. A.B.C Orjiako; and Chairman, First Pension Custodian Nig. Ltd., Mallam Umar Yahaya, at a send off dinner held in Lagos on Wednesday for Yahaya, Orjiako and Ajayi, who have retired as directors of Leadway Assurance mubo peters