Binder1111 saturday, march 29, 2014

Page 1

Saturday Edition

Sanctity of Truth Facebook.com/newtelegraph

Saturday, MARCH 29, 2014 Vol. 1 No. 39

N150

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www.newtelegraphonline.com

Nigeria’s most authoritative newspaper in politics and business

S&P lowers Nigeria’s credit outlook to negative Ayodele Aminu

R

enowned global rating agency, Standard & Poor’s has revised its outlook on Nigeria’s sovereign credit to negative from credit watch negative, citing continued infighting within

the ruling party (Peoples Democratic Party), which has heightened political and institutional risks. It however, affirmed its ‘BB-’ long-term sovereign credit rating on Nigeria. But reacting to this development, Managing Di-

rector, Financial Derivatives Company Limited, Mr. Bismarck Rewane, said the review was expected given the fact that Nigeria had been on the watch list. “S&P are very thorough. If they had acceded to Nigeria’s plea, it sound as if they

have been compromised,” he said. S&P had put Nigeria on a credit watch following its decision to review the country’s rating from “stable outlook”, citing lack of new information on the country, and the uncertain-

The North won’t boycott

ODION IRUOJE: AT HOME WITH THE KING OF BEATS }13 NEWS

ONE DAY AFTER COP KILLS 6 AND SELF, ANOTHER MAN IN OGUN BEHEADS EX-MAGISTRATE }10

—Amb Mamman N o northern delegate is contemplating a walkout or boycott of proceedings at the ongoing National Conference, the Northern Delegates Forum (NDF) gave assurances yesterday.

Spokesman of the NDF, Ambassador Yusuf Mamman, made the clarification in a telephone interview. Mamman’s statement came on the heels of the feisty comment by Lamido Adamawa, Alhaji Mu-

NEWS

CONTINUED ON PAGE 2

Conference delegate Mamman Misau dies, buried p.2

CONTINUED ON PAGE 2

C O N V E R S ATIO N

Conference Muhammad Ali, Kaduna

ty surrounding monetary policies after the suspension of the Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido, in February 2014. The rating agency had made its intention to review Nigeria’s rating pen-

ultimate Friday, an action which the federal government had since appealed. Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi OkonjoIweala, said the federal government had questioned the reasoning behind the review on the country’s stable out-

Tese Onokala: The Lawyer with the Tape

}18

Abia policemen abduct The Sun editor from Lagos HOME }9


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