Fallout of Naira Redesign, Analysts Back CBN’s Cash Withdrawal Policy Say move will boost monetary policy effectiveness, tax compliance, may strengthen naira Urge apex bank to reduce bank charges CBN deputy governor-nominees to explain new policy to Senators during screening on Friday
Chuks Okocha, James Emejo, Sunday Aborisade in Abuja and Nume Ekeghe in Lagos Analysts yesterday threw their
weight behind the latest decision of the Central Bank of Nigeria (CBN) to limit cash withdrawals by individuals and corporate organisations following the currency
redesign programme. This was just as the Senate disclosed that it would on Friday screen the two CBN Deputy Governors who have been nominated
for second term, adding that they would use the session to clarify the new cash withdrawal limits to the lawmakers. They are Mr. Edward Adamu
and Mrs. Aisha Ndanusa Ahmad, who were reappointed for a second and final term in office by President Muhammadu Buhari. The central bank had placed a
cap on cash withdrawals under the new dispensation, restricting the maximum cash withdrawal over Continued on page 10
Bloomberg: How NNPC Funded Purchase of Chevron’s Asset with $300m Aid from Dantata’s Firm... Page 6
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Airtel Wins 5G Licence, Emerges Sole Bidder for Additional Two Lots in 3.5GHz Spectrum Auction... Page 43
UK: We've No Preferred Presidential Candidate in Nigeria
AOC chieftain donates 70 cars to support Tinubu/Shettima campaign
Adedayo Akinwale
The United Kingdom government has declared that it has no
preferred presidential candidate amongst those contesting to replace President Muhammadu Buhari in next year’s election.
Speaking with journalists, yesterday, in Abuja after a closed door meeting with members of the National Working Committee
(NWC) of the APC led by Senator Abdulahi Adamu, the British High Commissioner, Catriona Laing, said, the UK government
was committed to free and fair elections in the country. She said the meeting with the national executive of APC was
one of the meetings she had been having with political parties, Continued on page 10
NNPC: How We Raised Crude Oil Production from 900,000bpd to 1.6mbpd Clarifies 70% illegal refineries deactivated Reveals Nigeria was losing 21m barrels monthly, $1.9bn before recovery Says Nigerians will be shocked to know those behind oil theft when exposed Declares suspected oil thieves undergoing prosecution Blames current fuel scarcity on distribution hiccups Emmanuel Addeh in Abuja, Emma Okonji, Nosa Alekhuogie, Peter Uzoho and Gilbert Ekugbe in Lagos The Nigerian National Petroleum Company (NNPC) Limited yesterday reaffirmed that with the return of Forcados and partial restoration of the Trans Niger Pipeline (TNP), Nigeria’s oil production had hit 1.6 million
barrels per day (mbpd). NNPC explained how the national oil company was able to ramp up crude oil production, which had fallen significantly, with the collaboration of the security agencies, regulators, oil producing communities, and other stakeholders. Speaking on Arise News Continued on page 10
THISDAY/ARISE GROUP HOSTS LIBERIAN LEADERS...
L-R: Chairman of THISDAY/ARISE Group, Prince Nduka Obaigbena; Former Vice President, Republic of Liberia and Opposition Presidential Candidate, Ambassador Joseph Nyumah Boakai, and Former Liberian Commissioner for Maritime Affairs, and Chairman of Lonestar Communications Corporation, Liberia’s largest mobile phone service provider, partnered by MTN, Benoni Wilfred Urey, when they were hosted by THISDAY in Lagos on Tuesday