Insurgency: Buratai’s comments on soldiers’ commitment unfortunate, demoralising – experts Harrison Edeh & Stella Enenche, Abuja
T
he comment made by Nigeria’s Chief of Army Staff (COAS), Lieutenant General Yusuf Bu-
…soldiers lament poor treatment ratai, on Tuesday that front-line soldiers in the war against Boko Haram lack the required commitment to further push and
finally defeat the insurgents amounts to admission that he and his men are tired and may have totally lost charge.
This view was expressed by a cross-section of security experts and other Nigerians who spoke to BusinessDay on the matter,
Wednesday. They said this could account for the recent renewed attacks on citizens, especially in the last week on at least four Nigerian Army bases by Boko HaContinues on page 38
businessday market monitor FMDQ Close
Everdon Bureau De Change
Bitcoin
NSE
Foreign Exchange
Foreign Reserve - $45.10bn Biggest Gainer Biggest Loser Cross Rates - GBP-$:1.27 YUANY-N52.23 Nestle Mobil N34.65 10.00pc N1400 -1.41pc Commodities 29,772.72
Cocoa
Gold
Crude Oil
US$2,513.00
$1,354.10
$61.71
₦3,265,173.18
-0.02 pc
Powered by
news you can trust I **thursDAY 20 june 2019 I vol. 15, no 336 I N300
g
Buy
Sell
$-N 358.00 361.50 £-N 457.00 464.00 €-N 401.00 406.00
igeria’s economy is not growing fast enough to absorb its expanding population,
neither is government spending making a significant dent in the lives of the majority of the country’s poor people, according to global ratings agency, Moody’s. The government’s rev-
enue weakness is scuttling efforts to deliver a stronger economy, one that is less dependent on oil and growing closer to 6 percent annually, Moody’s said. Nigeria doesn’t make as much cash as it used
I&E FX Window CBN Official Rate Currency Futures
($/N)
to when oil prices were as high as $100 per barrel, neither is economic growth as robust as it used to be. Worse still, the country Continues on page 38
Spot ($/N)
3M
360.53 306.95
-0.14 10.99
NGUS aug 21 2019 360.93
g
www.
Cash-strapped Nigeria trapped in low growth path – Moody’s N
LOLADE AKINMURELE
Market
MARKETS
Lafarge Africa sells South African subsidiary to LafargeHolcim for $316m …to boost Nigerian operations, share price BALA AUGIE
L
L-R: Ifeoma Esiri, non-executive director; Yinka Sanni, chief executive; Basil Omiyi, chairman, board of directors, and Chidi Okezie, company secretary, all of Stanbic IBTC Holdings plc, at the 7th annual general meeting of the bank in Lagos, yesterday.
fgn bonds
Treasury bills
afarge Africa plc has reached an agreement to sell the 100 percent equity interest held by the company in Lafarge South Africa Holdings (Pty) Limited (LSAH) to Caricement B.V. (“Caricement”), an indirect subsidiary of LafargeHolcim Limited for $316 million. The sale is expected to extinguish the company’s foreign currency debt, bolster cashflow, and underContinues on page 38
6M 0.41
-0.03
10 Y -0.01
20 Y 0.00
12.71
14.54
14.54
14.77
5Y
NGUS nov 27 2019 361.38
NGUS may 27 2020 362.28
@
g
APAPA GRIDLOCK BusinessDay has suspended the countdown to Lagos State Governor Babajide SanwoOlu’s plan to rid Apapa of intractable gridlock in the first 60 days of his administration. This follows the governor’s clarification, Tuesday, of his May 18, 2019 comment on the issue. The countdown was our way of bolstering the new administration’s effort to sanitise the port city. We will not relent in our duty to help the state government keep track of its promises.
Inside Otedola exits Forte Oil shares in N64.3bn off-market P. 2 deals