Cardoso Decries Rising Global Public Debt, Says Nigeria's Sovereign Obligations Stable CBN reviews FX rate on import duties to N1,544.081/$
James Emejo in Abuja
Governor of the Central Bank
of Nigeria (CBN), Mr. Olayemi Cardoso, yesterday, decried rising global public debt saying borrow-
Country at high risk of debt distress amid low revenue, says WAIFEM boss
ing remained a significant concern globally, particularly in developing nations, where high debt levels were
worsened by greatly restricted fiscal space and limited opportunities for concessional finance. He said Nigeria
was at “moderate" overall risk of sovereign stress. Stating that the country’s
sovereign profile remained stable Continued on page 24
Adesina: AfDB in Talks to Provide Nigeria with $1.76bn... Page 8 Tuesday 05 March, 2024 Vol 29. No 10555. Price: N400
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Idahosa Wants INEC to Uphold APC Primary of February 17 That Produced Him as Flagbearer... Page 27
LCCI: We are Concerned about Likely Perception FG Isn’t Accommodative of Foreign Workers Dike Onwuamaeze
Following the additional levies of $10,000 and $15,000 on expatriate
staff and directors, respectively, by the federal government, the Lagos Chamber of Commerce and Industry (LCCI) has expressed concern about
likely perception by foreign investors that the Nigerian government is not accommodative of foreign workers. LCCI warned that such perception
would harm the country’s drive for Foreign Direct Investment (FDI), and said there was need for a balanced approach to expatriate employment.
Director General of LCCI, Dr. Chinyere Almona, made the assertions yesterday in a public statement, titled, “LCCI Perspective
on Nigeria’s Expatriate Employment Levy (EEL).” Continued on page 24
Dangote in Tears, Names Refinery Road After Wigwe Says he feels helpless unable to help his friend Clinton, Obasanjo, others pay tributes to late banker Sanwo-Olu pledges to immortalise him Emmanuel Addeh in Abuja, Wale Igbintade and Nume Ekeghe in Lagos In an emotion-laden voice, Alhaji Aliko Dangote, Africa's richest man, fought hard to hold back tears but couldn't as he led a horde of private sector professionals to pay tributes to the late Access Holdings Group CEO, Dr Herbert Wigwe. He described Wigwe as a visionary, a perfectionist who gave so much of himself for others. But said he was partly consoled because Wigwe’s transformative strides were all over the landscape. Dangote stated that Wigwe broke all records and pushed boundaries in banking, reshaped the sector, emphasising that his philanthropy will never be forgotten. Africa’s richest man said Wigwe was a pillar of strength for him and his businesses, and went out of his Continued on page 24
Professionals honour Wigwe...
L-R: Founder, Guaranty Trust Bank, Mr. Fola Adeola; Governor, Central Bank of Nigeria, Mr. Olayemi Cardoso; Governor, Lagos State,Mr. Babajide Sanwo-Olu; Chairman, Coronation Group, Mr. Aigboje Aig-Imoukhuede; his wife Ofovwe; daughter of Late Herbert Wigwe, Tochi Wigwe; son, David Wigwe; and daughter, Hannah Wigwe, during “Celebrating Professional PHOTO: ETOP UKUTT Excellence” in honour of Late Herbert Wigwe in Lagos... yesterday.
Obi Hails Obasanjo as True Patriot at 87... Page 29