CBN: BDCs to Get Dollars on Resumption of International Flights Obinna Chima Central Bank of Nigeria (CBN) has said it would restart the auctioning of foreign exchange to bureau de change (BDC) operators once international flights resume. CBN Director, Corporate
Communications, Mr. Isaac Okorafor, told THISDAY yesterday that this was because BDCs' customers are mainly international travellers. Minister of Aviation, Senator Hadi Sirika, in a tweet on his official Twitter handle on July 21, 2020, had said international
flights might resume before October. CBN’s position followed calls on the apex bank to provide dollars to BDCs in order to halt the slide of the naira against the greenback on the parallel market. “The customers of BDCs are
largely travellers and when the federal government suspended international flights in order to contain the spread of the COVID-19, the BDCs requested that we grant them holidays as well. “So, once the federal government or the Presidential
Task Force (PTF) announces the resumption of international flights, we would resume forex sales to BDC,” Okorafor said. A former CBN governor and former Emir of Kano, Alhaji Muhammad Sanusi, had said the gap between the Nigerian Autonomous
Foreign Exchange (NAFEX) and BDC rates could be traced to inadequate foreign exchange caused by funding. He said funding BDC would move CBN towards unifying the exchange rates. Continued on page 9
States Offer Tax Relief to Individuals, Businesses... Page 8 Monday 17 August, 2020 Vol 25. No 9261. Price: N250
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TODAY'S WEATHER
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Arming Regional Security Outfits,Vigilantes Inimical to National Safety, IG Warns Orders clampdown on prohibited firearms Groups rally support for Na'Abba over DSS invitation Chuks Okocha and Kingsley Nwezeh in Abuja Inspector-General of Police, Mr. Mohammed Adamu, has kicked against arming of vigilantes, quasi-states and regional security outfits with prohibited firearms and weapons, saying it's in contravention of the provisions of the Firearms Act, and a threat to national security. "The IGP, while observing
that several civil groups, vigilantes, quasi-states and regional security outfits under various guises are arming themselves with prohibited firearms and weapons in contravention of the provisions of the Firearms Act, notes that the trend if unchecked will pose serious threat to national security,” a statement by the Force Headquarters said Continued on page 9
UNILAG Council Gives Details of Ogundipe’s Alleged Financial Misdemeanor
Amended universities act grants council power to remove vice chancellor Tobi Soniyi Documents from the Governing Council of University of Lagos yesterday revealed more details of alleged financial wrongdoings that led to the removal, last week, of the Vice Chancellor, Prof. Oluwatoyin Ogundipe. The council, in the documents obtained by
THISDAY yesterday, also insisted that due process was followed in removing Ogundipe from office. It added that not only was Ogundipe removed from office for financial recklessness, his removal was also due to his inability to discharge the functions of his office as a Continued on page 9
NEW HOUSING HELMSMAN... New Managing Director, Federal Housing Authority, Senator Gbenga Ashafa (left), and President Muhammadu Buhari after Ashafa’s inauguration in Abuja…recently
Buhari, Lawan, Jonathan, Atiku Felicitate with Babangida at 79... Page 5