As Growth Slows Globally, Nigeria’s Foreign Capital Inflows Contract By 78% CBN says situation happening worldwide due to Covid-19 and under control James Emejo in Abuja, Dike Onwuamaeze and Chris Uba in Lagos The Central Bank of Nigeria (CBN) has urged Nigerians not to fret as the total value
of capital importation into the country fell drastically to $1.29 billion in the second quarter of the year (Q2 2020), compared to $5.85 billion in the preceding quarter. The capital importation
figures for Q2 2020, released yesterday by the National Bureau of Statistics (NBS), showed a contraction of 78 per cent compared to Q1 and by 79 per cent when compared to Q2 2019.
Speaking with THISDAY, the Director, Corporate Communications, CBN, Mr. Isaac Okorafor, said the loss of foreign portfolio flows in Q2, though unfortunate for Nigeria, was no peculiar to
the country. Okorafor explained that since the fourth quarter of 2019, all emerging markets had been recording drop in capital inflow, adding that the Nigerian challenge is also
being experienced globally due to Covid-19, and under control by the CBN. “The oil producing countries lost flows because of the drop Continued on page 5
Akpata Takes over as NBA President, Pledges Electoral Reforms… Page 6 Saturday 29 August, 2020 Vol 25. No 9273
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FG Moves to Tackle Ghana over Harassment of Nigerians 825 Nigerians deported from Ghana in 12 months Olawale Ajimotokan in Abuja The federal government has warned the Ghanaian authorities that it would no longer tolerate the incessant harassment and acts of hostility towards Nigerian
citizens in Ghana. The Minister of Information and Culture, Alhaji Lai Mohammed, issued the warning in a statement yesterday. It also emerged yesterday that 825 Nigerians were
deported from Ghana between January 2018 and February 2019. The minister said the federal government was deeply concerned by the hostile act and would no longer condone such.
Mohammed added that the federal government was urgently considering a number of options aimed at redressing the situation. Although, the minister of information was silent on the likely measures Nigeria would
take against Ghana to protest the harassment of Nigerians, but sources told THISDAY last night the Nigerian government would soon roll out a number of stiff measures against Ghana and Ghanaian interest in the country.
The minister said the federal government had documented acts of hostility by the Ghanaian authorities towards Nigeria and Nigerians. He said the unfriendly Continued on page 5
Buhari Demands Acceptable Transition Timetable from Mali’s Stiff Coupists Unhappy engagements with junta yet to achieve desired results Omololu Ogunmade in Abuja
President Muhammadu Buhari yesterday in Abuja demanded for an acceptable timetable from the military junta in Mali for a return to democracy, warning that the country could not afford to stand alone in the sub-region. This came as ECOWAS' leaders restated their resolutions, demanding for the composition of a transition government in Mali, led by civilians, as well as the return of the country to constitutional government within the next 12 months. The demands of both Buhari and ECOWAS were made at a virtual Extraordinary Summit
of ECOWAS Heads of States and Governments on the sociopolitical crisis rocking Mali. According to a statement by the president's media adviser, Femi Adesina, Buhari harped on briefings by ECOWAS' Special Envoy, former President Goodluck Jonathan, saying it showed that the regional body's engagements with the new military leadership in Mali were yet to achieve the desired results in several key areas. However, the president was swift to add that he was happy to hear the news of President Ibrahim Boubacar Keita's release from detention, Continued on page 5
AKPATA IN THE SADDLE... L-R: Corporate lawyer and Senior Partner at Templars, Olumide Akpata (L) being sworn in as the 30th President of the Nigerian Bar Association, NBA, by the immediate past president of the association, Paul Usoro, in Abuja…yesterday
Helicopter Crashes into Building in Lagos, Kills 3… Page 6