CBN Pegs Dollar Rate for School Fees, PTA at N375/$ Moves to tighten noose against FX round tripping Obinna Chima In line with its determination to boost dollar supply in the economy as well as to bridge the wide gap between the interbank foreign exchange (FX) market and
the parallel market, the Central Bank of Nigeria (CBN) yesterday pegged the Naira exchange rate for payment of school fees (strictly universities) abroad and Personal Travel Allowance (PTA) at N375 to the dollar.
The central bank disclosed this in a closed-door meeting it held with all chief executive officers of commercial banks as well as other authorised FX dealers in attendance. The meeting took place in Lagos.
A source who was at the meeting said the new rate for school fees and PTA would become effective from Monday. According to the source, the CBN Governor, Mr. Godwin Emefiele who chaired the meet-
ing, assured that the central bank would provide enough dollars to meet all FX demands for these invisible items. “For tuition fees, the CBN said it would only cater for those in the universities and
the persons involved can only get $15,000 per term and the FX would be wired directly to the school abroad. We (the banks) were all told to ensure Continued on page 6
NSCDC: Over 7000 Illegal Refineries Operating in the Niger Delta ... Page 10 Saturday 18 February, 2017 Vol 21. No 7978. Price: N250
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Scores Killed as Military Foils Attempt by Boko Haram to Invade Maiduguri Michael Olugbode Scores of people were killed in Maiduguri on Thursday night as Boko Haram unleashed eight suicide bombers on the troubled town. Apart from the suicide
bombers, the terrorist group attempted to invade the town with a small group of fighters that attempted driving in on motorcycles. Eyewitnesses said many of the terrorists and civilians lost their lives in the attack by
heavily armed Boko Haram fighters at about 11:20pm on Thursday as they attempted to storm Maiduguri through its border with Mafa. They said some of the terrorists tried to gain access into the town after infiltrating
a newly constructed Customs House where IDPs from Mafa are camped. It was learnt that they were repelled by troops and members of the youth vigilante group, after a long drawn battle. The district head of Anadua
in Mafa Local Government Area, Zanna Lawan told journalists that scores of civilians, including all the Boko Haram fighters that carried out the attack were killed in the encounter. He said: "Boko Haram fighters tried to storm into
Maiduguri but were defeated by our gallant troops. They tried to storm into Yerwa, Maiduguri metropolis, through the newly constructed Customs House where IDPs from Ajiri Continued on page 6
Appeal Court Shocks Makarfi, Affirms Sheriff PDP Chairman Rejects judgement, heads to Supreme Court Ekweremadu: No cause for alarm
Ernest Chinwo in Port Harcourt, John Shiklam in Kaduna, Onyebuchi Ezigbo in Abuja and Segun James in Lagos Hope of an end to the crisis rocking the opposition Peoples Democratic Party (PDP) may have been dashed as the Court of Appeal sitting in Port Harcourt yesterday declared the May 21, 2016 National Convention of the party illegal and affirmed Senator Ali Modu Sheriff as National Chairman of the party. In a swift reaction, the National Publicity Secretary of the Caretaker Committee of the PDP, Dayo Adeyeye, said the judgment was not only a disservice to the PDP but also to democracy in Nigeria, while the Deputy Senate President, Senator Ike Ekweremadu said there was no cause for alarm, adding: “Those dreaming about the death of the opposition in Nigeria will have to sleep much longer.”
In a split judgment, the Appeal Court held as illegal, null and void the setting up of the Caretaker Committee by the May 21, 2016 Port Harcourt convention of the party. The embattled erstwhile PDP caretaker Chairman, Ali Modu Sheriff, had appealed the earlier judgment of July 4, 2016 by Justice Mohammed Liman, which upheld the outcome of the convention. Liman had in the judgment declared the Port Harcourt convention as valid and legal and that Makarfi was the authentic chairman of the caretaker committee set by the convention. But in yesterday’s judgment that lasted about four hours, two out of the three judges held that the removal of the National Working Committee and setting up of a caretaker Committee by the national convention of May 21, 2016, was illegal, ab initio. Continued on page 6
Judiciary has murdered democracy, says Bode George
POWERS BEHIND THE THRONES... L-R: Wife of Enugu State Governor, Monica Ugwuanyi; wife of Lagos State Governor, Bolanle Ambode; wife of Osun State Governor, Sherifat Aregbesola; and their Ogun State counterpart, Olufunso Amosun during the quarterly meeting of the Southern Governors' Wives' Forum (SGWF) in Umuahia, Abia State ...recently
Osinbajo's Visit to Delta: Tompolo Monarch Warns Subject against Bombing National Assets... Page 15