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NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS /newtelegraph
Vol. 2 No. 359
Friday, February 13, 2015
@newtelegraph1 www.newtelegraphonline.com
N150
Chaos as Nigeria Labour congress election ends in stalemate }5
Naira slumps further, defies CBN's protection Ayodele Aminu and Chris Ugwu
T
he naira and the Nigerian stock market have continued to go south as the economic
crisis, occasioned by the volatility in the global oil market, further drag down their values. Despite assurances by the Central Bank of Nigeria (CBN) that there was "no need to panic" over the
slide of the naira, the currency hit an all-time low of N206.05 to $1 yesterday, from N204.25 on Wednesday. The naira had crashed through the key level of N200 to the dollar last
Tuesday in a rout sparked by weak oil prices and escalating tension over the postponement of the presidential election. Consequently, the CBN Governor, Mr. Godwin Emefiele, who had earlier
appealed to foreign and local investors on the Nigerian Stock Exchange (NSE) not to panic over the depression in the nation’s local bourse, also told a television station, CMBC CONTINUED ON PAGE 2
43 days to go... Nigeria Nigeria votes votes
2015
15 20}14 & 15
It's May 29 or nothing
lAGF says interim government unconstitutional }2
Quick Read Editorial
The need to protect corps members during polls }19 Boko Haram regrouping for attack, says FG }8 Travel Advisory
Your guide to local and international flights }4
L-R: Chief Executive Officer, Nigerian Stock Exchange (NSE), Mr. Oscar Onyema; Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele and President, NSE Council, Mr. Aigboje Aig-Imoukhuede, during Emefiele’s visit to the NSE in Lagos…yesterday. PHOTO: GODWIN IREKHE
Akpabio: No PDP gov working for Buhari lAPC to Jonathan: You can't intimidate us Onyekachi Eze, Johnchuks Onuanyim, Emmanuel Onani and Temitope Ogunbanke
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eoples Democratic Party (PDP) gover-
nors have described as mischievous and scandalous the allegation that some of them are working for the All Progressives Congress (APC) presidential candidate,
Major General Muhammadu Buhari, to win the March 28 presidential election. They also pledged their determination to ensue the re-election of President
Goodluck Jonathan, who is the PDP candidate in the election. This came as APC pointedly told the president that the party would not be cowed by attempts to
intimidate it by deploying the military and the police to harass its leaders. Akwa Ibom State Governor, Chief Godswill Akpabio, who doubles as ChairCONTINUED ON PAGE 6