News you can trust ** Thursday 11 May 2023
Vol. 21, No 1,416 N400
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FMDQ Close Foreign Exchange
INVESTMENT ONE NGX ASI
OPEN CLOSE %CHANGE Foreign Reserve 52,579.52 52,605.78 0.05% Cross Rates
10.10% 1YR NTB FGN BOND 10YR 14.90% EURO BOND 10YR 13.16%
$37.01bn GBP-$: 1.24 YUAN -67.52
Commodities ($) Cocoa Gold $2,902.00 $1,990.33
NEWS ANALYSIS
Nigeria’s debt burden re-echoes danger of ‘rubber stamp’ lawmakers By Isaac Anyaogu NIGERIA’S 1999 constitution gave lawmakers the power of the purse to moderate the excesses of the executive by putting stipulations
Crude Oil $85.84
NTB
Market
Spot ($/N)
26-Oct-23
I&EFX Window
463.02
Currency Futures
1M (31-May-23)
2M (28-Jun-23)
473.90
476.31
-1.69
4.89
Commodities Cash Settled Price(NGN-1kg) D-o-D (%)
Benchmark
Value
D-o-D %
Maize Sorghum Soybean Ginger Cocoa
ACI-Points AEI-Points Turnover-NGN’ mn Contracts Traded
478.14 230.31 203.08 700,134
-0.79% 0.00% -71.26% -74.17%
235.89 274.00 339.59 923.82 2,079.10
-4.19% 0.00% -1.12% 0.00% 0.00%
Nigeria’s InfraCorp in limbo as CBN delays seed funding By Lolade Akinmurele, Dipo Oladehinde & Eniola Olatunji
THE Infrastructure Corporation of Nigeria (Infracorp) is yet to fully take off due to a
Continues on page 29
THE BUHARI LEGACY SERIES
Continues on page 30
Buhari reneges on jobs promise as unemployment quadruples
Tribunal rules on Atiku’s live broadcast motion today
By Bunmi Bailey THE unemployment rate in Africa’s biggest economy has risen more than fourfold during the administration of President Muhammadu Buhari, who promised to create millions of jobs before he took the helm. Tackling poverty in Nigeria
Continues on page 31
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L-R: Aliko Dangote, president, Dangote Group; Tony Elumelu, chairman, Heirs Holding Ltd, and Bala Wunti, chief upstream investment officer, NNPC Upstream Investment Management Services (NUIMS), during the Annual Value Assurance Review organised by NUIMS in Lagos, yesterday.
19 days to swearing-in, Tinubu jets out to Europe >> Turn to page 9