BusinessDay 21 Feb 2019

Page 1

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FOREIGN EXCHANGE

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Nestle 10.00pc N1580 32,614.05

-1.25pc

Foreign Reserve - $42.68bn Cross Rates - GBP-$:1.31 YUANY-N53.71 Commodities Cocoa

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NEWS YOU CAN TRUST I **THURSDAY 21 FEBRUARY 2019 I VOL. 15, NO 251 I N300

g

BUY

SELL

$-N 357.00 361.00 £-N 465.00 474.00 €-N 401.00 409.00

www.

States pump N251bn into non-viable airports amid infrastructure deficit B IFEOMA OKEKE

ad roads, poor healthcare services, collapsing schools, inadequate housing and a lack of municipal services like

waste collection or pipe-borne water have not deterred most Nigerian states from embarking on white elephant airport projects. Apart from the 22 airports built by the Federal Government through the Federal Airports Authority of Nigeria

(FAAN), many state governments are building such facilities, usually as a status symbol. At the last count, 13 states have spent or propose to spend a total

Continues on page 38

Market I&E FX Window CBN Official Rate Currency Futures

($/N)

FGN BONDS

TREASURY BILLS

Spot ($/N)

3M

6M

5Y

362.04 306.80

0.00 12.03

1.30 15.02

0.14

NGUS APR 24 2019 363.30

14.63

NGUS JUL 24 2019 363.75

@

g

10 Y 0.04

20 Y 0.00

14.85

14.42

NGUS JAN 29 2020 364.65

g

Political desperation, fiery rhetoric battering Nigeria’s image CHRISTOPHER AKOR

I

t would have been thought that the two main political parties and their candidates would have shrugged off the disappointment of the postponed elections and returned to campaigning to sway voters to their sides and encourage massive turnout on February 23. It would also have been thought that with the signing of the peace pact by the candidates and their political parties, they would have eschewed violence or any act that might in any way jeopardise the collective vision of a free, fair, Continues on page 38

Inside FIRS’ searchlight on 2,933 companies’ bank accounts raises industry dust P. 2

L-R: Tunde Owolabi, group executive, retail banking group, Lagos & West, FirstBank; Akin Olawore, president, Nigerian-British Chamber of Commerce (NBCC); Adesola Adeduntan, chief executive officer, FirstBank, and Kayode Falowo, deputy president, NBCC, during a courtesy visit by officials of the NBCC to FirstBank in Lagos.

Understanding the economy of Nigeria’s 36 states – Delta & Edo


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