Friday 21st April 2017

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Naira Extends Gains as Dollar Glut Hits Market CBN revises documentation requirements to boost trade

Chika Amanze-Nwachuku in Lagos and Obinna Chima in Washington D.C. The naira sustained its momentum on the parallel

market yesterday, appreciating significantly by N20 in one day to close at N380 to the dollar, stronger than N400 to the greenback at the close of trading the day before.

Similarly, the local currency firmed up on the Bureau de Change (BDC) segment of the market yesterday, trading at between N376 and N378 to the dollar in Lagos, Abuja

and Kano. The gains were largely influenced by increased dollar liquidity in the economy, as the Central Bank of Nigeria (CBN) sustains its intervention

in the foreign exchange (FX) market. The CBN pumped a total of $380 million into the market between Tuesday and Wednesday this week.

It also simplified the documentation process for small and medium sized businesses to enable them Continued on page 11

MNJTF: A Divided Boko Haram, Boost to Our Counter-insurgency Operations... Page 50 Friday 21 April, 2017 Vol 22. No 8037. Price: N250

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Chief Executive, Africa Regions, Standard Bank Group, Mrs. Sola David-Borha; President, Dangote Group, Alhaji Aliko Dangote; the Emir of Kano, Alhaji Muhammad Sanusi II; former Chairman, Stanbic IBTC Holdings, Mr. Atedo Peterside, his wife, Dudun; and Chief Executive, Stanbic IBTC Holdings, Mr. Yinka Sanni, during the send-off dinner held by Stanbic IBTC for Peterside in Lagos yesterday. Peterside resigned from Stanbic IBTC to take up his appointment on the board of Standard Bank Group Limited and Standard Bank of South Africa Limited.

Citing Double Standards, PDP Says SGF, NIA DG Should Have Been Arrested Demands independent probe

panel as Magu meets Osinbajo Onyebuchi Ezigbo in Abuja Citing double standards, the Peoples Democratic Party (PDP) led by Senator Ahmed Makarfi has rejected the three-man investigative panel constituted by President Muhammadu Buhari to probe the Secretary to the Government of the Federation, Babachir David Lawal and the Director General of the National Intelligence Agency, Ambassador Ayo Oke, adding

that both men should have been arrested by the law enforcement agencies. Lawal and Oke were suspended by the president on Wednesday for the alleged mismanagement of the funds meant for humanitarian aid in the North-east and the discovery of N13.3 billion in an apartment in Ikoyi by the Economic and Financial Crimes (EFCC), respectively. Continued on page 10

Fayose Questions Buhari’s Absence at State Functions... Page 10

L-R: Chief Executive Officer, Northwest Petroleum Oil and Gas Limited, Mrs. Winnie Akpani; Lagos State Governor, Mr. Akinwunmi Ambode; Managing Drector/CEO, Providus Bank, Mr. Walter Akpani; and Oba of Lagos, Rilwan Akiolu, at the commissioning of Providus Bank’s head office in Lagos State… yesterday


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Friday 21st April 2017 by THISDAY Newspapers Ltd - Issuu