Britain to Add Naira to List of Accepted Trade Currencies CBN intervenes with Fresh $325.64m
Obinna Chima with agency report Britain’s Export Finance Agency will add the Naira to its list of “pre-approved currencies”, allowing it to provide financing
for transactions with Nigerian businesses denominated in the local currency. The Naira will become one of three West African currencies that UK Export Finance has pre-
approved for its programme of funding transactions that promote trade with Britain, it said. Britain voted to leave the European Union in 2016, which has forced London to
rethink its trade ties with the rest of the world. It has said it would start preliminary talks with India about an eventual bilateral trade deal. The United Kingdom and
the EU struck an agreement in December that opened the way for talks on future trade ties. “This is a clear indication of how much value the UK places on its relationship with Nigeria.
It will provide a firm foundation for a significant increase in trade and investment between both countries,” Reuters quoted the Continued on page 6
Subsidy Fraud: Appeal Court Acquits Ontario Oil MD, Ugo-Ngali… Page 8 Saturday 10 February, 2018 Vol 22. No 83231
www.thisdaylive.com TR
UT H
& RE A S O
N250
N
Jega: Do-or-Die Attitude of Politicians,Threat to Democracy Alex Enumah in Abuja The immediate past chairman of the Independent National Electoral Commission (INEC), Prof. Attahiru Jega, has said that the do-or-die mentality of
most Nigerian politicians was a major threat to the country’s democracy. Jega, who provided further clarification on his position at an event organised by the Centre for Democracy and Development (CDD) in Abuja yesterday, told
THISDAY in a brief telephone interview last night that the door-die attitude undermined the whole essence of democracy, “especially the conduct of free and fair election.” The former INEC boss, who joined others to express growing
frustration at the practise of democratic tenets by politicians in Nigeria, linked the do-or-die attitude to the long years of military rule. While anchoring the panel on, “Three Decades of Democratic Transition in Africa’’ organised
by the CDD, Jega said this negative political attitude was also responsible for the poor state of democracy particularly in Nigeria and Africa generally "The challenges most African countries are faced with is that democratisation in most African
countries are on account of legacies of military rule. “Clearly everybody knows that military rule is an aberration, and if it has done anything in our continent here Cosntinued on page 6
Buhari Retires Justice Ademola, Dismisses Tokode Omololu Ogunmade in Abuja
President Muhammadu Buhari yesterday in Abuja approved the compulsory retirement of Honourable Justice Adeniyi Ademola of the Abuja Division of the Federal High Court as well as the dismissal of Honourable Justice O.O. Tokode of the Benin Division of the Federal High Court. The approval, according to a statement by Senior Special Assistant to the President on Media and Publicity, Malam Garba Shehu, was in line with the recommendations of the National Judicial Council (NJC) and pursuant to Section 292 (1) (b) of the 1999 Constitution of the Federal Republic of Nigeria (as amended). The statement which added that Tokode had consequently been ordered to refund all salaries and allowances he earned illegally from December 2, 2015 when he was sworn-in as a Judge of the Federal High Court till date, also stated that the president urged judicial officers to be alive to their responsibilities and eschew corruption in the
discharge of their duties. It also said Buhari had commenced the process of ensuring that individuals, judges and justices recommended by NJC for appointments into various courts of record in the instant are fit and proper, and are not under any disability to function as judicial officers. "The President’s position is in furtherance oaf the executive powers vested in him under Section 5 of the 1999 Constitution, which allows him as the appointing authority to exercise same reasonably, taking all relevant factors into consideration. Nigerians are assured that President Buhari will issue his approval or otherwise as soon as the process of the background verification is completed," the statement added. What eventually culminated in Ademola's compulsory retirement yesterday first became public knowledge on December 7, 2017, when NJC rejected his notice of retirement as contained in a letter addressed to the council.
DIPLOMATIC RITUAL... President Muhammadu Buhari receives the letter of credence from the new Vietnam Ambassador to Nigeria, H.E Pham Anh Tuan Photo: State House
Cosntinued on page 6 at the State House, Abuja ... yesterday
N400m Fraud: You Have a Case to Answer, Supreme Court Tells Olisa Metuh…Page 55