SUNDAY 29TH MAY 2022

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CBN Rallies Banks to Support Nigerian Firms to Expand Forex Earnings AfDB plans youth entrepreneurship banks in Nigeria, 12 others Gets the nod to develop Index Bond to address insecurity in Africa Festus Akanbi The Central Bank of Nigeria (CBN) has urged Nigerian banks to support indigenous companies to increase foreign exchange inflows and boost economic growth.

This is coming as the African Development Bank (AfDB) has embarked on the designing of youth entrepreneurship investment banks in 13 African countries, including Nigeria, even as it disclosed that it had obtained

approval from its Board of Governors to develop a Security Index Investment Bond to address insecurity in Africa. A CBN team on inspection of projects funded through Deposit Money Banks in Lagos advised

the banks late on Friday. It noted that the apex bank was counting on these companies to expand export earnings and achieve the goal of $200 billion in foreign exchange repatriation in three to four years.

The News Agency of Nigeria (NAN) reported that the CBN team visited the Pinnacle Oil and Gas FZE, Candel Company Ltd., Lagos Free Zone and Sana Building Systems, all in IbejuLekki, Lagos State.

31 Persons Confirmed Dead in Rivers Church Stampede…

The Head, Legal Services Department of CBN, Mr Kofo Salam-Alada, during a visit to Candel Company Limited., called on banks to support Nigerian Continued on page 6 Page 8

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Fresh Crisis Looms in APC as National Vice Chairman Blasts Adamu Buhari may unveil consensus presidential candidate this week Jonathan option unsettles other aspirants

Deji Elumoye, Adedayo Akinwale, Udora Orizu in Abuja and Amby Uneze in Owerri Barely two months after the Senator

Abdullahi Adamu-led National Working Committee (NWC) of the ruling All Progressives Congress (APC) was elected into office, a fresh crisis may tear the committee apart

over Adamu’s leadership style, THISDAY has learnt. This is coming as President Muhammadu Buhari may unveil the consensus presidential candidate

of the party this week, just as indications that former President Goodluck Jonathan may emerge as the president’s preferred candidate have unsettled the other presidential

aspirants of the ruling party. As the Peoples Democratic Party (PDP) concludes its presidential primary today in Abuja, the Southern and Middle Belt Leaders’ Forum

(SMBLF) has restated its opposition to zoning the presidency to the North. Indications of the looming Continued on page 16

Atiku Defeats Wike, Becomes PDP Presidential Candidate Former VP pledges to unite Nigeria EFCC operatives storm venue of primary, search delegates’ bags Tinubu congratulates Atiku, says former VP will be his opponent See story on page 5

Presidential candidate of the Peoples Democratic Party (PDP) and former Vice President, Alhaji Atiku Abubakar, after he was declared the winner of the party’s primary at the National Convention in Abuja...yesterday


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SUNDAY 29TH MAY 2022 by THISDAY Newspapers Ltd - Issuu