CBN: No Plan to Convert Bank Customers' Foreign Currency into Naira Strengthens supervision of banks' compliance with new FX regime
James Emejo in Abuja and Nume Ekeghe in Lagos The Central Bank of Nigeria (CBN) yesterday dispelled speculations that it was planning to convert the foreign exchange
(FX) in domiciliary accounts of bank customers into naira. The bank further assured members of the public that it would monitor the commercial banks to ensure they meet the legitimate FX demands of
customers. The bank’s Acting Director in charge of Corporate Communications, Osita Nwanisobi, dismissed insinuations in some quarters that the central bank planned to convert FX
in the domiciliary accounts of customers into naira in order to check purported shortage of availability of the dollars. He stressed that the CBN never planned to tamper with the FX deposits in the accounts
of customers, adding that those making such allegations were criminal speculators whose intention was to create panic in the foreign exchange market. The CBN director insisted that at no time did the bank
ever suggested or implied that it would tinker with the FX deposits of customers. He therefore, urged operators of domiciliary accounts and other Continued on page 10
NNPC Will Protect Nigeria’s Interest in Divesting Oil Companies, GMD Assures...Page 6 Tuesday 3 August, 2021 Vol 26. No 9612. Price: N250
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FG: Nigeria Officially in Third Wave of Covid-19 Pandemic
Receives 4 million doses of moderna vaccines from US Issues new safety protocols for diplomats Lagos recorded 4,300 new cases, 30 fatalities in July, says Sanwo-Olu NCDC warns Delta variant may spread to more states NARD strike already disrupting hospital services Onyebuchi Ezigbo, Olawale Ajimotokan in Abuja and Segun James in Lagos In what appeared like a confirmation of its worst fears, the federal government, yesterday, announced officially the resurgence of the third wave of the SARS-COV-2 infection in the country. The announcement came as the American government boosted Nigeria’s fight against
the virus with the donation of 4.08 million doses of the Moderna vaccines. On the diplomatic scene, Minister of Foreign Affairs Geoffrey Onyeama announced a new COVID-19 port of entry policy for diplomats as ratified by the Presidential Steering Committee (PSC) on COVID-19. The policy will apply to diplomats Continued on page 10
APC May Annul Last Week’sWard Congresses Chuks Okocha All things being equal, the leadership of the All Progressives Congress (APC) is likely to annul its ward congresses held last Saturday, the first in a series of steps in the selection of delegates that would ultimately lead to the party’s convention. A consensus is already burgeoning around outright
cancellation of the congresses to avoid legal landmines in the foreseeable future, going by the Supreme Court judgment in the Ondo governorship election last week, which touched on the fate of the current APC national Caretaker leadership, THISDAY can report. A top Villa source said last Continued on page 10
Kyari Out, Disu in as IG Rejigs Intelligence Response Team…Page 8
Sanwo-olu flashes red flag... L:R Lagos State Commissioner for Finance, Dr. Rabiu Olowo, Secretary to the State Government (SSG), Mrs. Folashade Jaji; the State Governor, Mr. Babajide Sanwo-Olu, Commissioner for Information & Strategy, Mr. Gbenga Omotoso and Commissioner for Health, Prof. Akin Abayomi. briefing State House Correspondents during his Covid-19 Update at Lagos House, Ikeja... yesterday