Standard Bank Report Predicts $5.1bn Capital Inflows in Second Half of 2024 Foresees exchange rate to settle at N1,219.32/$ Says heightened geopolitical uncertainties may reduce foreign portfolio inflows RenCap estimates N4.1tn additional injection to meet banking recapitalisation James Emejo in Abuja and Nume Ekeghe in Lagos Standard Bank has predicted $5.05 billion in funding inflows
into the economy in the second half of the year. Using estimates from Nigeria’s past Eurobond issuances, it forecasted that the federal
government may issue between $3 billion and $5 billion in a dollar-denominated local bond. This was just as a separate report by Renaissance Capital
Africa (RenCap) estimated that N4.1 trillion additional capital injection would be required by banks to comply with the banking recapitalisation.
The Standard Bank report further based its assumptions on the $1.05 billion the country was expected to receive as balance from the Nigerian National Petroleum
Company (NNPC) crude prepayment facility ($3.30 billion) in May, adding that the Afreximbank Continued on page 5
Prince Harry, Megan: We Are in Nigeria to Lift Morale of Injured Soldiers… Page 5 Saturday 11 May, 2024 Vol 29. No 10622
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Obaigbena Urges African Leaders to Remove Visa Restrictions to Promote Trade Obinna Chima in Nairobi, Kenya
Chairman and Editor-in-Chief of THISDAY and Arise Media Group, Prince Nduka Obaigbena, speaking to media chiefs from Chad and Burkina Faso at the AllAfrica Media Leaders’ Summit which ended in Nairobi, Kenya…yesterday
The Chairman and Editor-in-Chief of THISDAY and Arise Media Group, Prince Nduka Obaigbena, yesterday, Continued on page 5
Rivers Crisis Deepens as Court Restrains Amaewhule, 25 Others from Parading as Assembly Members Security personnel takeover assembly quarters Fubara issues executive order for temporary relocation of Assembly sitting to govt house Governor precipitating his impeachment through utterances, actions, says APC Chuks Okocha, Adedayo Akinwale in Abuja, Blessing Ibunge in Port Harcourt, Segun James and Wale Igbintade in Lagos Justice Charles N. Wali of the Rivers State High Court in Port Harcourt has restrained 25 lawmakers in Rivers State loyal to the Minister of the Federal Capital Territory,
Chief Nyesom Wike, from parading themselves as members of the Rivers State House of Assembly. Few hours after the court restrained the Martin Amaewhule's faction of the State House of Assembly from parading themselves as lawmakers in the state, a heavy Continued on page 5
Tinubu Confers Second Highest National WE ARE EXCITED TO BE IN NIGERIA… of Sussex, Prince Harry (right) and Duchess of Sussex, Meghan, at a reception for them on their arrival at Abuja as Honour, GCON on Awujale of Ijebuland... Page 10 Duke part of celebration of Invictus Games anniversary… yesterday
PHOTO: AP/SUNDAY ALAMBA