CBN: Oversubscription of Open Market Bills Show of Confidence in Economy James Emejo in Abuja The Central Bank of Nigeria (CBN) said it successfully concluded a sale of government securities, issuing
N1.053 trillion (about $680 million) in short-term instruments as part of its liquidity management exercise. The apex bank offered N500 billion at the Open Market Operations
(OMO) auction and oversubscribed, selling N1.053 trillion, with 79 per cent of the total bids, or the equivalent of $530 million, coming from foreign investors.
The auction held over the weekend was the first since the CBN’s Monetary Policy Committee (MPC) meeting, which was followed by a virtual meeting with foreign
portfolio investors at the NGX investors forum. The CBN Governor, Mr. Olayemi Cardoso, had used both meetings to set a detailed strategy to curb
inflation, stabilise the exchange rate, and spur confidence in the banking system and economy. Continued on page 12
42m SIM Cards Barred across Telecoms Networks in Five Days... Page 14 Monday 04 March, 2024 Vol 29. No 10554. Price: N400
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NECA, CPPE Raise the Alarm over FG’s 750% Additional Levy on Expatriate Employment... Page 6
IOCs, Indigenous Producers Seek Expeditious Resolution of All Oil Assets Divestment Deals OPEC+ members agree to extend voluntary cuts to Q2
Emmanuel Addeh in Abuja International Oil Companies (IOCs)
and their indigenous counterparts have expressed worry over the delay in the conclusion of the
several divestment deals in the Nigerian oil sector. Speaking at the just-concluded
Nigeria International Energy Summit (NIES) in Abuja, a number of those who spoke maintained that
the reluctance of the authorities to quickly expedite action on the cases was bad for the sector and,
by extension, the Nigerian economy. Continued on page 12
At Executive Session with Emir of Qatar,Tinubu Woos Foreign Investors, Says Nigeria Ready for Business Urges Qatari investors to report to him any official that impedes progress or asks for gratification Witnesses signing of seven bilateral agreements on investment promotion, mining, youth empowerment, sport, tourism, education and enterprise devt Deji Elumoye in Abuja President Bola Tinubu, yesterday, held a closed-door meeting with Emir of the State of Qatar, His Highness, Sheikh Tamim bin Hamad Al Thani, as part of his two-day state visit to Qatar, where he stressed that Nigeria was ready for business. The executive session was preceded by bilateral deliberations between the two leaders, which culminated in the signing of historic agreements between both nations, opening a gateway for leveraging the potential of mutual cooperation
in pivotal sectors of education, enterprise development, investment promotion, youth empowerment, mining, tourism, and sports. Before the signing ceremony at the Qatar Presidential Palace, Tinubu assured his host of Nigeria’s preparedness to welcome investors into the country, noting the ongoing reforms that favour innovation, return on investments, and multiculturalism. The president stated, "Our greatest strength is our people. Our strength lies in the capacity of Nigerian Continued on page 12
90TH BIRTHDAY CELEBRATION OF THE GRAND CHIEF IMAM OF ABEOKUTA... L-R: Mr. Peter Obi; the Grand Chief Imam of Egbaland, His Eminence Sheikh Alhaji Muhammed Sa'ad Alade Olaonipekun Bamigbola and former President Olusegun Obasanjo, at the 90th birthday celebration of the Grand Chief Imam in Abeokuta... yesterday