FRIDAY 17TH MAY 2019

Page 1

Senate Backs Buhari, Passes June 12 Democracy Day Bill Lawan promises to unveil legislative agenda Deji Elumoye in Abuja The Senate yesterday passed a bill seeking to change Nigeria’s Democracy Day from May 29 to June 12. The bill, which originated

from the House of Representatives, was unanimously adopted by senators at plenary. This is coming as the Senate Leader and the anointed candidate of the

All Progressives Congress (APC) for the position of Senate president, Senator Ahmad Lawan, has given an assurance that he would soon make public his legislative agenda for the ninth National

Assembly. Specifically, the bill seeks to amend the Public Holiday Act 2004 to make June 12 as the new date for Democracy Day to replace May 29, which marks the official handing

over from military to civilian administration. The bill is expected to be transmitted to President Muhammadu Buhari for his assent, after clean-up by the Legal Services Department of

the National Assembly. The House of Representatives had last December passed a similar bill recognising June 12 as National Democracy Day. Continued on page 7

CBN Inaugurates Committee to Revive Textile Industry... Page 8 Friday 17 May, 2019 Vol 24. No 8803. Price: N250

www.thisdaylive.com TR

UT H

& RE A S O

N

CEOs Call for Tougher Regulations, Stronger Banks Obinna Chima With the confirmation of the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, for a second and final five-year term, by the Senate yesterday, some chief executive officers of financial institutions have hailed his reappointment

and urged him to work towards having tougher regulations and stronger banks in the country. The chief executives, who spoke in separate interviews with THISDAY, said with tougher regulatory environment, the banks would scale up their services. The CEO, Cowry Assets

Management Limited, Mr. Johnson Chukwu, advised Emefiele to ensure that the central bank is more decisive in resolving banking crisis, to avoid any form of contagion effect. “In terms of banking supervision and regulation, I want to see a situation whereby

the central bank is more decisive in resolving banking crisis, such that when it becomes imperative that a particular weak institution should be allowed to exit the market, I believe the CBN should be decisive. But in all, we expect to see stronger regulation,” Chukwu explained. He added: “He (Emefiele)

has said he is going to focus on stimulating the economy, particularly the small and medium scale enterprises (SMEs). He should work towards harmonising the exchange rate and push for faster economic growth through monetary stimulus. I also expect him to continue

to work towards lowering interest rate.” The Managing Director/ CEO of Polaris Bank Limited, Mr. Tokunbo Abiru, described the confirmation of the CBN governor as a positive development for our economy. Continued on page 8

Senate Confirms Emefiele, Says He Has Performed Creditably Saraki tasks CBN gov to help improve economy Deji Elumoye in Abuja and Obinna Chima in Lagos Saying he performed creditably in his first term, the Senate yesterday confirmed the reappointment of Mr. Godwin Emefiele as governor of Central Bank of Nigeria (CBN) for a second and final term of five years. Emefiele’s confirmation was sequel to the presentation of the report of the Senator Adebayo Ibrahim-led Senate Committee on Banks, Insurance and other Financial Institutions that screened him on Wednesday. President Muhammadu Buhari had on May 8 submitted the name of Emefiele to the Senate for

the renewal of his second and last five-year tenure as CBN governor. The Senate at plenary on Tuesday referred the president's letter to the banking committee for further legislative action. The committee thereafter screened Emefiele on Wednesday and recommended him for re-appointment as CBN governor. Presenting the committee's report yesterday, Ibrahim said the committee took its time to screen the nominee. According to him, "The nominee made his presentation, which covered his experience in banking even Continued on page 7

WHO: 20,000 Souls Lost to Boko Haram Crisis... Page 7

HONOUR WELL DESERVED... L-R: Governor of Gombe State, Alhaji Ibrahim Dankwambo; Managing Director, Zenith Bank Plc, Mr. Peter Amangbo; and former Head of State, General Yakubu Gowon (rtd.), during the investiture of Amangbo at the Chartered Institute of Bankers of Nigeria in Lagos... yesterday


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.