BDSUNDAY BUSINESS DAY
Stanbic IBTC, Rencap, 8 others execute N103bn transactions as equities lose N687bn p.34
Sokari Douglas Camp: The diaspora artist and her works
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p.37
Sunday 16 September 2018 Market & Commodities Monitor Brent Oil
5yr Bond
$78.08
-0.08 15.11%
Gold
10yr Bond
$1,201.4
-0.07 15.17%
Cocoa
$2,219.0
20yr Bond
-0.07 15.49%
Godly leadership, not restructuring, will solve Nigeria’s problems – Bishop Olumakaiye
p.14-15
Vol 1, No. 234 N300
2019: Experts warn on illicit financial flows W
ZEBULON AGOMUO & CHUKS OLUIGBO
inside
p.40-41
hereas Nigeria seems to have taken some initiatives to curb illicit financial flows, such as the introduction of a single windows trade platform in all ports of entry, the Voluntary Assets and Income Declaration Scheme (VAIDS), the Bank Verification Number (BVN) scheme, among others, tracking illicit financial flows during elections remains problematic.
In spite of extant laws that require assets disclosure and impose ceilings on campaign spending and restrictions on campaign funding, politicians and political parties’ funds and expenditure systems remain opaque and confidential, resulting in continued inflow of unaccounted-for monies from both known and unknown sources during elections. Worried by this trend, experts have begun to raise awareness to relevant parties aimed at checking illicit financial flows ahead of the 2019 general
elections. Ibrahim Magu, acting chairman, Economic and Financial Crimes Commission (EFCC), on May 30 met with chief compliance officers of Nigeria’s commercial banks. He mandated banks to report all suspicious transactions ahead of next year’s election, threatening to prosecute any bank that failed to cooperate. The anti-graft agency also set up teams to monitor election spending by politicians and political parties in a bid to track
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Too many ‘ifs’ on the way to Dickson’s 2020 Senatorial p.22 ambition Osun 2018: The candidates, their chances, their p.24-25 limitations Moshood Salvador (m), former chairman of the People’s Democratic Party in Lagos, hoists the All Progressives Congress flag during his official declaration for the party at the Agege Stadium in Lagos, yesterday. Pic by Iniobong Iwok
APC will rule Nigeria for 33 years - Tinubu as Salvador, ex-PDP Lagos chair, officially joins ruling party
Akwaaba 2018: Showcasing Africa’s richness in entertainment, interaction, tourism
p.44
B
Iniobong Iwok
ola Ahmed Tinubu, national leader of the All Progressives Congress (APC), says the party will rule the country for 33 years. Tinubu made this assertion, yesterday, while receiving Moshood Salvador, a former chairman of the People’s Democratic
Party (PDP) in Lagos State who recently defected to the APC, at the Agege Stadium in Lagos. Tinubu said the APC had initially planned to rule the country for 16 years but had changed its mind and decided to extend its tenure in power to 33 years. Tinubu, who was represented at the
occasion by Senator Anthony Adefuye, noted that the defection of Salvador to the APC would strengthen the party, adding that the APC would poll majority votes in the 2019 general elections. He described Salvador as a true politi-
p. 2