NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS
Monday, October 20, 2014
Vol. 1 No. 244
/newtelegraph
@newtelegraph1
www.newtelegraphonline.com
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Two banks fail CBN’s capital adequacy test
lNon-performing loans hit N400.57bn Abdulwahab Isa Abuja
T
wo banks have failed to meet the stipulated Capital
Adequacy Ratio (CAR) of 10 per cent, New Telegraph has learnt. Consequently, the Central Bank of Nigeria (CBN) has directed management of two lenders whose CAR
fell below threshold as at end of August 2014 to recapitalise. The two banks, whose identities were not disclosed by the apex bank, have been put under close
monitoring for compliance. CBN Deputy Governor (Economic Policy), Dr. Sarah Alade, disclosed this to bank chiefs last Thursday at the Bankers’ Commit-
12 pwagYeosrk
tee meeting in Abuja, where she presented the latest report on state of the economy and banking sector. Nigeria joined oth-
o f N e es Tim inside
CONTINUED ON PAGE 6
Don’t trust Boko Haram lSenator cautions FG on ceasefire lHow New Telegraph broke story }5
NIGERIA’S MOST AUTHORITATIVE NEWSPAPER Wednesday, September 17, 2014
IN POLITICS AND BUSINESS
Vol. 1 No. 211
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FG loses N17.9bn as strike hits fuel exports,
lTota l resum es $2.5bn Nigeria n oil
Adeola Yusuf
O
il workers in the services of the Nigerian National Petroleum Corporation (NNPC) made
good their threat to begin a strike yesterday, grounding activities of the corporation at crude export terminals and fuel loading gantries.
The NNPC, which is responsible for 57 per cent of the total crude exports and 20 per cent of the 40 million litres of fuel consumed daily in the country,
www.newtelegraphonline.com
field sale
lost a total of N17.8885 billion on the first day of the industrial action. While a total of N1.9 billion is lost on loading of 20 million litres per day, being
N150
loading
the NNPC's 50 per cent of the 40 million litres daily consumption in Nigeria, a total of about N15. 9885 billion ($106.59 million) is lost
Jonathan meets with Boko Haram leaders lThe secret nego CONTINUED ON PAGE 2
tiation in Chad
GMD, NNPC
}3
Quick Read Editorial The Lagos ban on Okada }19 Atiku kicks against automatic ticket for APC presidential candidate }2
Teachers vow not to resume September 22 }4 Mbu, a puppet, says Governor Amaechi }3 L-R: National Coordinator, Progressive Shareholders Association of Nigeria, Mr. Boniface Okezie; Managing Director, Chairman of the Board, Dr. Oba Otudeko, Honeywell Flour Mills Plc., Mr. Olanrewaju after the Fifth Annual General Meeting Jaiyeola and of the company in Lagos...yesterday.
$9.3m seizure: Aircraft is mine, says Oritse jafor lCAN accuses LAGOS
Storms
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Lateef Ibrahim and Oluwatosin Omoniyi
President, Christian Association of Nigeria (CAN), Pastor Ayo Oritsejafor, has admitted owner-
National Assembly seeks quick end to insurgency }5
APC, El-Rufai of blackmail
ship of the aircraft seized in South Africa at the weekend for illegally importing $9.3 million cash into the country for alleged arms deal. Oritsejafor’s Word of
Life Bible Church confirmed holding a residual interest in the embattled Bombardier Challenger 600 with registration number N808HG owned by Eagle Air company.
In a statement issued yesterday by Oritsejafor’s Personal Assistant, Mr. Bayo Adewoye, said: “On behalf of Pastor Oritsejafor, we can confirm that alCONTINUED ON PAGE 5
Quick Read Editorial The comatose steel sector }19 WHO declares Nigeria Ebola-free today }9 Chuka Odom, ex-FCT minister, joins Imo guber L-R: Mrs. Victoria Gowon; former Head of State, Gen. Yakubu Gowon and President Goodluck Jonathan at Gowon’s 80th birthday thanksgiving service in Abuja…yesterday
Fayemi replies Fayose: I left N36bn debt lYou are not sincere, says governor Adesina Wahab
F
ormer Ekiti State Governor, Dr. Kayode Fayemi, and his successor, Governor Ayo Fay-
ose, yesterday engaged in claims and counter-claims over the debt profile of the state. Fayemi debunked claims that he left a debt
burden of N84 billion for his successor. But Fayose insisted on the figure and described Fayemi’s position as unrealistic. In a statement yester-
day by his media aide, Mr. Yinka Oyebode, the former governor said the debt profile of the state as at October 15 when he left office was about N36 billion.
Fayemi said: “Governor Fayose had in his inaugural speech put the state’s debt profile at N57 billion. A day earlier, he had put the figCONTINUED ON PAGE 4
}8
28 fuel importers jostle for 3m tonnes 4Q fuel allocation }4
Jega, RECs at loggerheads over polling units }6