CBN Warns of Risks to International Financial System FATF flags Cameroon, Croatia, Vietnam Apex bank sensitises Bauchi business community, other stakeholders on its policies James Emejo, Aisha Kabiru in Abuja and Segun Awofadeji in Bauchi The Central Bank of Nigeria (CBN) yesterday urged banks and other financial institutions to be vigilant
and alert to possible emerging risks resulting from the circumvention of measures taken to protect the international financial system. The central bank stated this in an administrative circular dated June 6, 2023, and signed by CBN Director,
Financial Policy and Regulations Department, Chibuzo Efobi, which was addressed to banks and Other Financial Institutions (OFIs) following the outcome of the Financial Action Task Force (FATF) plenary held between June 21-23, 2023.
The CBN further alerted the banks on the addition of Cameroon, Croatia, and Vietnam to the list of jurisdictions under increased monitoring by FATF. The apex bank further stressed that the Democratic People’s
Republic of Korea, Iran, and Myanmar remained on the list of high-risk jurisdictions subject to “Call for Action”, urging that enhanced due diligence should be applied, and in severe cases, countermeasures may need to be implemented to
safeguard the international financial system. The bank emphasised that the suspension of the Russian Federation’s membership in the Continued on page 5
We’ll Require Additional N225.2bn to Conduct National Census, NPC Tells Tinubu... Page 32 Friday 7 July, 2023 Vol 28. No 10313. Price: N250
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Diphtheria Outbreak: NCDC Rolls Out Fresh Measures to Prevent Epidemic in Nigeria Onyebuchi Ezigbo and Juliet Akoje in Abuja.
COMMENDATION SERVICE OF LATE SUBOMI BALOGUN... L-R: Wife of Ex-Head of State, Mrs Victoria Gowon; her husband, Retired General Yakubu Gowon; wife of former Governor of Ogun State, Yeye Olufunke Daniel; her husband, Otunba Gbenga Daniel and Lagos State Governor, Mr Babajide Sanwo-Olu during the commendation service of late Otunba Olasubomi Balogun at the Cathedral Church of Christ, Marina,... yesterday
Following the first reported confirmed case of Diphtheria in Continued on page 5
To Ease Tax Burden on Businesses, Tinubu Signs Four Executive Orders Suspends 5% telecom tax, finance act, customs tariff Step aimed at alleviating hardship on Nigerians, says Alake Adedeji: Move meant to increase productive activities, not tax poverty Telcos, NACCIMA, NECA, MAN hail president Nigeria safe for foreign investors, says Akpabio Deji Elumoye, Sunday Aborisade in Abuja, Emma Okonji, Dike Onwuamaeze and Gilbert Ekugbe in Lagos President Bola Tinubu has signed four Executive Orders deferring and suspending the commencement of certain taxes paid by individuals and companies in the country. Special Adviser to the President on Special Duties, Communications and Strategy, Mr. Dele Alake, made this known yesterday, while speaking with newsmen at the State House, Abuja.
The new policy ostensibly responds to concerns recently raised by THISDAY. In a recent publication on Tinubu’s first 30 days in office, THISDAY had highlighted multiple taxation as one of the challenges the president needed to address. Alake said the latest step by the president was aimed at reducing tax burden on Nigerians and their businesses. It was also meant to address concerns raised by manufacturers and other stakeholders Continued on page 5
CBN MEETS NGF... Acting Governor of Central Bank of Nigeria (CBN) Folashodun Shonubi in a handshake with Kwara State Governor/Nigeria Governors' Forum (NGF) Chairman AbdulRahman AbdulRazaq during a meeting at the NGF Secretariat in Abuja.
Presidency Disowns Ministerial List Being Bandied Around... Page 33