SATURDAY 25TH MAY 2019

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Emefiele Defends CBN’s Unconventional Forex and Devt Financing Policy Says it has helped price stability, real output growth Obinna Chima The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, has again justified the unconventional monetary

policy approach the bank had adopted, particularly in forex market and development financing, saying it has helped to optimally balance the delicate objectives of

price stability and real output growth. Emefiele, spoke yesterday at the Distinguished Leadership Programme Lecture Series, titled: "Up against the Tide:

Nigeria’s Heterodox Monetary Policy and the Bretton Woods Consensus," which he delivered at the University of Ibadan, Oyo State. The CBN governor

explained that just like fiscal policy, monetary policy could, at a time when development challenges abound, complement the efforts of fiscal policy in employment

generation, wealth creation and attainment of other growth objectives. The CBN governor told Continued on page 6

Seized $5.7m Were Cash Gifts to Patience Jonathan, Lawyer Tells Court‌ Page 6 Saturday 25 May, 2019 Vol 24. No 8811

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Alleged Share Manipulation: EFCC Raids MTN OfďŹ ce, Quizzes Mgt Staff Chika Amanze-Nwachuku and Emma Okonji Operatives of the Economic and Financial Crimes Commission (EFCC) yesterday raided the head office of MTN Nigeria Communications Plc

in Falomo, Lagos over the scandal rocking the company’s recent listing on the Nigerian Stock Exchange (NSE). Top management personnel of the company were said to have been interrogated by the operatives, who stormed the

telco’s corporate headquarters at about 4pm. THISDAY gathered that the EFCC team had demanded for documents in connection with the share listing which were promptly provided to them.

Although no official of the EFCC and MTN could provide official statements on the matter, a source familiar with the deal, said the visit of the team from the anti-graft agency was sequel to the barrage of complaints from

“several unnamed brokers that the shares of MTN are not available for the public to buy despite the recent listing that was greeted by huge excitement.� A stockbroker, who spoke on the matter last night said

the astronomical rise in the MTN shares few days after the listing, was a clear indication that some underhand deals must be in the offing. There are also growing Continued on page 6

PDP Candidates to Be Declared Winners of Zamfara State Elections Monday Likely governor-elect Mutawalle, supporters, jubilate in Gusau Verdict tilts March 9 governorship elections in favour of PDP with 15 governors, APC now 14 Adedayo Akinwale and Alex Enumah in Abuja Following yesterday’s Supreme Court judgement that voided all votes cast for the All Progressives Congress (APC) in the 2019 elections in Zamfara State, Dr. Bello Mutawalle of the Peoples Democratic Party (PDP) who got 189,452 votes in the March 9 governorship election in the state looks good to be declared governor-elect by the Independent National Electoral Commission (INEC), on Monday. All other candidates of the PDP in the state House of Assembly and the National Assembly elections conducted on February 23 and March 11, 2019 respectively are also to be declared winners on Monday by INEC.

Justice Paul Adamu Galinji, who read the lead judgement, declared all votes cast for the APC as “wasted votes� and announced that all political parties with the second highest votes in the elections and the required spread, were elected to the various offices. “Only the votes of the PDP candidates and other qualified candidates will be tallied to determine total votes cast and work out spread. In this case, INEC has no option but to declare Mutawalle governor-elect, and other PDP candidates winners on Monday because they have met all the requirements. The other qualified candidates scored few votes,� said a source at an emergency Continued on page 6

Jonathan: Dickson Has Surpassed Expectation in Educational Devt... Page 8

HONOURING THE BUSINESS COMMUNITY... President Muhammadu Buhari and Chairman, Forte Oil Plc, Mr. Femi Otedola when the President hosted some members of the business community to a breaking of Ramadan fast at the Presidential Villa in Abuja‌ yesterday

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