BusinessDay 28 Dec 2018

Page 1

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Everdon Bureau De Change

Bitcoin

NSE

FOREIGN EXCHANGE

Foreign Reserve - $43.24bn Biggest Gainer Biggest Loser Cross Rates - GBP-$:1.26 YUANY-N53.01 FO Dangcem Commodities N34.35 9.92 pc N187.7 -3.25 pc 31,692.63

Cocoa

Gold

Crude Oil

US$2,361.00

$1,276.80

$53.45

NEWS YOU CAN TRUST I **FRIDAY 28 DECEMBER 2018 I VOL. 15, NO 212 I N300

₦1,369,464.72

+0.53 pc

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BUY

SELL

$-N 361.00 364.00 £-N 456.00 464.00 €-N 406.50 414.00

www.

Market I&E FX Window CBN Official Rate Currency Futures

($/N)

Spot ($/N)

3M

364.35 307.00

-0.04 12.93

NGUS FEB 27 2019 365.25

entral Bank of Nigeria (CBN) is to review the sanction it imposed on Standard Cha r te re d Ba n k, Citi Bank, Stanbic-IBTC and Diamond Bank over their alleged Ifeanyi Okowa (m), governor, Delta State; Sheriff Oborevwori (r), speaker, Delta State House of Assembly; Lyna Ocholor (2nd r), Clerk of the House; Peter Mrakpo (l - standing), attorneygeneral and commissioner for justice, and Ovie Agas, secretary to state government, during the signing of Delta State Appropriation Bill 2019, in Government House, Asaba.

involvement in the irregular issuance of certificates of capital importation (CCIs) on behalf of MTN. This was the basis of the order on the telecoms firm to repatriate over $8 billion it exported out of Nigeria. In August, the CBN had im-

posed a total fine of N5.87 billion on the four banks citing flagrant violations of Nigeria’s foreign exchange Monitoring and Miscellaneous Act of 1995 and the 2006 Foreign Exchange Manual when the banks acted for MTN in the repatriation from Nigeria of a total of $8.134 billion at various

6M

5Y

-0.06 13.43

-0.17

10 Y -0.28

20 Y 0.02

14.42

15.29

15.54

NGUS MAY 29 2019 365.70

NGUS NOV 27 2019 366.60

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MTN matter: CBN to review N5.8bn sanction on 4 banks C LOLADE AKINMURELE

FGN BONDS

TREASURY BILLS

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times between 2007 and 2015. However, on December 24, the CBN virtually reversed its order when it said that on the basis of fresh facts submitted by MTN, the telecoms firm was being let off with a “notional” reversal of Continues on page 39

ANALYSIS

Iran’s 2019 budget points way for Nigeria on reducing oil dependence ... Budget least tied to oil among OPEC member states

ISAAC ANYAOGU aced with US sanctions which has cut nearly 1million barrels per day (bpd) from its daily production of over 2.7million bpd, Iran has drawn up a micro policy hinged on

F

Continues on page 39

Inside One Lagos fiesta kicks off with Star Lager P. 37


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BusinessDay 28 Dec 2018 by BusinessDay - Issuu