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NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS /newtelegraph
Vol. 2 No. 365
Thursday, February 19, 2015
@newtelegraph1 www.newtelegraphonline.com
FG to cut budget, review oil benchmark
Central bank devalues naira lCurrency closes at N197 to $1 as official forex market is scrapped Ayodele Aminu and Tony Chukwunyem
A
fter several months of propping up the naira,
the Central Bank of Nigeria (CBN) yesterday finally succumbed to market forces by subtly devaluing the naira by N29.
This, it executed with the unification of the nation’s foreign exchange markets by scrapping its bi-weekly currency auc-
tion, otherwise known as the official market. Effective from yesterday, the central bank said all demands for forex
should be channelled to the interbank foreign exchange market where the naira closed at N197 to $1. CONTINUED ON PAGE 2
N150
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37 days to go... Nigeria Nigeria s votes vote
2015
2015
}14 & 15
Jega: March 28 polls depend on security
lRejects temporary voters' cards, insists on card readers }2
Quick Read Editorial
Nigeria must return to agriculture }19 Jonathan, Buhari, Onaiyekan sue for peace at Lent }8
Vehicles and boxes of ammunition seized from Boko Haram fighters after a battle with the military in Borno State...yesterday.
PHOTO: DEFENCE HEADQUARTERS
Troops kill 300 Boko Haram
lLiberate 13 Borno towns lShekau threatens elections Emmanuel Onani Abuja
S
ome 300 Boko Haram fighters have been killed by troops during an intensive opera-
tion to liberate 13 towns in Borno State, which were overran by the group. The Defence Head-
quarters (DHQ), in a statement yesterday, listed the 13 communiCONTINUED ON PAGE 6
Travel Advisory
Your guide to local and international flights }4