Naira Gains 9.3% at Parallel Market on Planned CBN’s Intervention James Emejo in Abuja and Nume Ekeghe in Lagos The naira strengthened to N435 to a dollar at the parallel market yesterday as against about N480 to a dollar it had been trading in the past days. This showed a gain of N45,
representing about 9.3 per cent rise. Currency dealers attributed the development to the planned resumption of forex sales by the Central Bank of Nigeria (CBN) to operators of Bureau De Change (BDC), which according to them is
expected to bolster dollar liquidity in the market. The apex bank is expected to resume forex sales to BDCs on Monday. It had announced its intention to resume forex sales to the retail segment of the market, but was forced
to postpone it because of the extension of the date for resumption of international flights to September 5. Speaking yesterday with THISDAY, the President, Association of Bureau De Change Operators of Nigeria (ABCON), Alhaji
Aminu Gwadabe, said the announcement of the plan to resume forex sales to the currency dealers was the major factor that led to the gain recorded by the nation’s currency against the greenback. He said: “The plan to resume forex sales to BDCs
was what broke the camel’s back. Dollar supply to BDCs is a potent weapon to fight against speculation. For those still speculating in the market, they are already burning their fingers and taking losses. Continued on page 9
BUA Group, French Firm Seal Deal for 200,000bpd Refinery... Page 5 Wednesday 2 September, 2020 Vol 25. No 9277. Price: N250
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TODAY'S WEATHER
ABUJA 25°C-33°C
MAIDUGURI 31°C-31°C
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ENUGU 25°C-28°C
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KANO 27°C-33°C
LAGOS 24C-27°C
PORT HARCOURT 20°C-30°C
Fearing Accountability, CAN Steps Up Agitation against CAMA Writes Buhari to stop implementation Law not to repress any religion, says presidential aide Onyebuchi Ezigbo in Abuja Christian Association of Nigeria (CAN) yesterday persisted in its agitation against the Companies and Allied Matters Act (CAMA), 2020, submitting a position paper to President Muhammadu Buhari, demanding the suspension of its implementation.
This is in spite of several official explanations that the law does not target the church, forcing social critics to conclude that church leaders’ opposition might have been fueled by their reluctance to accountability, which the law demands of every nonContinued on page 9
INEC Pledges Credible Elections in Edo, Ondo
Dismisses APC's rigging allegation against Igini Chuks Okocha in Abuja Independent National Electoral Commission (INEC) has assured the electorate in Edo and Ondo states that it would ensure free and credible governorship elections in the two states. Fielding questions from journalists yesterday in
Abuja shortly after swearing in a new Resident Electoral Commissioner for Ekiti State, Dr. Tella Rahmon, INEC’s Chairman, Prof. Mahmood Yakubu, also said the commission would not be distracted by spurious allegations peddled by mischievous politicians from Continued on page 9
SPEAKER IN THE VILLA... Speaker, House of Representatives, Hon. Femi Gbajabiamila (left), and President Muhammadu Buhari during the speaker’s visit to the president in Abuja…yesterday
Two Security Aides Die in Oshiomhole’s Convoy Auto Crash... Page 5