In Line with CBN’s Directive, Banks Expose Clients with Suspicious Dollar Transactions Aggregate money supply rises to N44.56tn Festus Akanbi In line with the resolve of the Central Bank of Nigeria (CBN) to halt a regime of arbitrage in the foreign exchange market, some Nigerian banks have started
exposing the identities of customers, who allegedly obtained dollars by false pretence, and traded them at a profit in the parallel market. This is coming as the aggregate broad money supply, M3 Money, which represents the amount of
money circulating in the economy, rose to N44.56 trillion in January, representing a 1.70 per cent growth year-to-date, a report by the CBN, has shown. Some bank customers have been taking advantage of the lucrative
37 per cent differential between the official and black market exchange rates by obtaining the dollar at the official rate of about N416, only to subsequently sell in the unauthorised market at a more expensive average rate of
about N570. These customers can beat regulations by presenting false travel documents, prompting the apex bank to direct banks to notify their customers of an impending crackdown on saboteurs in the
forex market. However, a report by Bloomberg yesterday revealed that some banks have begun to implement the CBN’s directives by publishing Continued on page 6
FG, ASUU to Reconvene for Talks Tuesday…Page 10 Sunday 27 February, 2022 Vol 27. No 9819
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FG Moves to Evacuate Nigerians Trapped in Ukraine to Poland Lists four borders in Ukraine Nigerians can cross to safety Michael Olugbode in Abuja The federal government yesterday said it had made necessary arrangements to evacuate stranded
Nigerians in Ukraine to Poland. To this end, it has listed four borders in Ukraine where its citizens seeking to leave the country can be evacuated.
The Chief Executive Officer (CEO) of the Nigerians in Diaspora Commission (NiDCOM), Mrs Abike Dabiri-Erewa, disclosed this yesterday.
She said the borders are Hrebenne-Rawa Ruska, KorczowaKrakowiec, Medyka-Szeginie and Budomierz-Hurszew. “For Nigerians in Ukraine
trying to cross over to Poland, there are eight borders between Poland and Ukraine; four borders are recommended,” she said. “Nigeria volunteer groups,
as well as staff of the Nigerian embassy, will be at these borders to help you out. We are going to Continued on page 8
Primaries Now April 4 to June 3 Ahead of Presidential Poll of February 25, 2023 PANDEF, Ohanaeze Ndigbo, Middle Belt Forum hail Buhari for signing electoral law
Deji Elumoye and Chuks Okocha in Abuja, Christopher Isiguzo in Enugu and Seriki Adinoyi in Jos Following the signing of the new electoral bill into law by President Muhammadu Buhari, the Independent National Electoral Commission (INEC) yesterday released a new timetable for the 2023 elections, with the conduct of party primaries, including the resolution of disputes arising from them now scheduled for April 4, 2022, to June 3, 2022. This is coming as the apex Igbo socio-political organisation, Ohanaeze Ndigbo; Pan Niger Delta Forum (PANDEF) and the Middle Belt Forum (MBF) have hailed President Buhari for signing the electoral bill. Under the new timetable for the 2023 general election, INEC has shifted the presidential and National Assembly elections from February 18 to February 25, 2023, while the governorship elections will hold on March 11, 2023. Addressing a press conference yesterday, INEC Chairman, Prof. Mahmood Yakubu, said the presidential and National Assembly elections Continued on page 5
PREPARATIONS IN TOP GEAR... L-R: National Commissioners of Independent National Electoral Commission, Alhaji Abubakar Alkali; Mrs. May Agbamuche-Mbu; Chairman of INEC, Prof. Mahmood Yakubu; National Commissioners, Prof. Rhoda Gumus; PHOTO: JULIUS ATOI and Mallam Haruna Mohammed, during the commission’s press conference on the new election timetable and schedule of activities of the 2023 general election in Abuja... yesterday
Purported Endorsement of Consensus Chairman Divides APC Govs…Page 5