Speculative Attack Weakens Naira to over N500 Mark on Parallel Market CBN Official: Gamblers will lose their money
Obinna Chima
The Naira attained a new low of N506 against the United States dollar on the parallel market yesterday, compared with the N500 to a dollar it closed the
previous day. The development was attributed to the activities of currency speculators who are desperately in search of exit strategies to reduce their dollar position. Meanwhile, an official of
the CBN who pleaded not to be named has warned speculators that they will lose their money as the country's foreign reserves continue to rise. Also, a currency trader who pleaded to remain anonymous
argued that there was likelihood that the currency speculators are scared that the successful Eurobond issuance by the federal government would help improve dollar liquidity in the country, thereby hampering their nefarious
activity. But on the Bureau de Change (BDC) segment, the Naira was quoted at N399 to the dollar, just as on the official interbank market, it stood at N315 to the dollar yesterday.
Speaking in a phone interview, the President, Association of Bureau de Change Operators of Nigeria (ABCON), Mr. Aminu Gwadabe, also blamed the further Continued on page 6
$1b Eurobond: Fayose Blasts FG, Says Loan Burden on Generation Unborn...Page Saturday 11 February, 2017 Vol 21. No 7969. Price: N250
www.thisdaylive.com TR
UT H
& RE A S O
N
Osinbajo in Bayelsa, Proposes New Vision for Niger Delta Illegal oil refiners to be incorporated in proposed modular refineries
Emmanuel Addeh in Yenagoa For more than three hours yesterday in Yenagoa, Bayelsa State, Acting President, Yemi Osinbajo, engaged elders, leaders, non-governmental organisations
as well as youth and women groups in the Niger Delta in continuation of the federal government’s search for peace in the troubled oil-rich region. The acting president who made a passionate presentation
at the Alamieyeseigha Memorial Banquet Hall, which was filled to capacity, urged the people of the Niger Delta to give the President Muhammadu Buhari administration a chance to make the difference in the lives of the
people by giving peace a chance. Osinbajo who was accompanied by the Minister of State, Petroleum, Dr. Ibe Kachikwu, his counterpart in the Ministry of Agriculture and Rural Development, Heineken Lokpobiri,
Minister of Niger Delta Affairs, Pastor Usani Usani and other top government functionaries, told his audience that his tour of the region was due to the importance the current government attaches to the Niger Delta.
According to the Vice President, many decisions taken in the past concerning the Niger Delta contradicted common sense, wondering why the region Continued on page 6
Muslim Brotherhood Planning Deadly Attacks in Nigeria, Says FG Members preparing to attack prisons
Olawale Ajimotokan in Abuja The federal government yesterday issued a warning to Nigerians of the subterranean plan by Muslim Brotherhood Cell in the country to launch terrorist attack. The group is an affiliate of the dreaded terrorist group, Boko Haram and its Nigerian cell is allegedly based in Kogi State, in North-central Nigeria. A statement issued by Minister of Information and Culture, Alhaji Lai Mohammed said some members of the group had fought along Islamic State in Libya and were planning to acquire bomb-making chemicals and high-calibre weapons to perpetrate acts of terror, including attacks on banks, arms depots and prisons. Mohammed said that intelligence monitoring revealed the frantic efforts by Muslim Brotherhood to upgrade its capability to make Improvised Explosive
Devices (IEDs) by acquiring chemicals such as Sodium Azide (for producing improvised detonators), Potassium Chlorate (alternative to ammonium nitrate used for producing IEDs) and Aluminum Powder (a fuel source for amplifying explosions). ''One Usman, an IED apprentice, left the cell some time back to join Islamic State in Libya. The new desire to acquire IED precursor chemicals could suggest that Usman or other persons may have returned from Libya and have acquired IED-making skills intended to increase the activities of the group,'' he said. The minister said intelligence also revealed that the group was making serious efforts to acquire sophisticated arms, including shoulder-fired rocket launchers. ''Further intelligence monitoring has revealed that members of the Muslim Brotherhood are planning to forcefully free their Continued on page 6
NEW ERA FOR NIGER DELTA BECKONS...
Bayelsa State Governor Seriake Dickson (left) ; Ag. President, Yemi Osinbajo receives a staff of honour from the Council of Elders in the Niger Delta presented by King Alfred Diete Spiff (right) during his tour of the region...yesterday
Lagos Marathon Holds Today, 100,000 Athletes Battle for $50,000... Page 53