Naira Falls to N436/$ on Parallel Market as Dollar Scarcity Worsens Nigeria needs $15bn to stabilise, says Dangote Lagos, Kaduna top list of most indebted states
Obinna Chima with agency reports The naira fell to an all-time low of N436 to the dollar on the parallel market yesterday, as
against N428 to the dollar from the previous day, as the perennial scarcity of the greenback in the market took a turn for the worse. The effect of the dollar shortage was also felt on the
interbank FX market where the spot rate of the naira also depreciated to N313.07 to the dollar yesterday, from N310.08 to a dollar the previous day. This is just as Nigeria’s
external reserves fell further to $24.759 billion as of September 21, 2016. The situation on the parallel market was attributed to the refusal by banks to sell dollars
to Bureau de Change (BDC) operators. The President, Association of Bureau de Change Operators of Nigeria (ABCON), Mr. Aminu Gwadabe, said none
of his members were able to access dollars from banks as directed by the Central Bank of Nigeria (CBN). Continued on page 8
NLC, Catholic Church, CSOs Kick against Sale of National Assets… Page 11 Friday 23 September, 2016 Vol 21. No 7820. Price: N250
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Fashola: Why Buhari Can’t Stop Blaming Past Govts
President warns west on implication of non-repatriation of looted funds Tobi Soniyi in Abuja and Olawale Olaleye in Lagos The Minister of Power, Works and Housing, Mr. Babatunde Fashola (SAN), has made excuses for President Muhammadu Buhari’s habit of reminiscing on the past and blaming past administrations for the Continued on page 8
AFFIRMATIVE ACTION… BORNO UNVEILS FEMALE MEMBERS OF CIVILIAN JTF
Borno State Governor, Kashim Shettima, yesterday unveiled female members of the 500 new recruits of the Civilian Joint Task Force (JTF) in Bama town, Borno. The female recruits will be assigned to assist the military take on female Boko Haram fighters and forestall unanticipated attacks against Bama which was liberated last year from the terrorists
National Economic Council Rejects Call for Adeosun, Udoma’s Ouster Economic Mgt Team rolls out new measures including asset sales to revive economy N50bn disbursed to states under budget support facility Senators: Buhari’s rigid anti-corruption policy scaring investors, killing economy House asks FG to revisit policies, TSA, backs cabinet reshuffle Tobi Soniyi, Omololu Ogunmade and Damilola Oyedele in Abuja The National Economic Council
(NEC) has expressed support for the plans and proposals of the federal government to steer the country out of recession. Rising yesterday from its
monthly meeting held at the Presidential Villa, over which Vice-President Yemi Osinbajo presided, the council acknowledged the
current economic challenges and difficulties bedevilling the country. Members of the council also endorsed the work of President
Muhammadu Buhari’s Economic Management Team (EMT) and specifically commended the Finance Minister, Mrs. Kemi Adeosun,
and the Budget and National Planning Minister, Senator Udoma Udo Udoma. Continued on page 8
APC Ratifies Akeredolu as Ondo Guber Candidate, Submits Name to INEC… Page 51