Experts: Refund of NNPC funds may trigger liquidity crisis Tony Chukwunyem
N
igeria’s banking industry could face significant liquidity pressures if the Central Bank of Ni-
geria (CBN) enforces its directive that eight banks should refund the Nigerian National Petroleum Corporation (NNPC) funds into
the Treasury Single Account (TSA), analysts at Exotix Partners, London, the world’s leading frontier markets investment bank
have said. The apex bank had, last Tuesday, suspended nine banks from further dealing in foreign exchange trans-
Chinese firm wins $1.85bn Kano light rail contract
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actions for failing to remit $2.3 billion belonging to the NNPC/NLNG to Federal Government’s coffers in line with the TSA policy. Sources at the CBN said the lenders would not be
readmitted into the forex market until they remitted all the outstanding funds and that further disciplinary actions awaited the erring banks when they CONTINUED ON PAGE 6
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Tuesday, August 30, 2016
MEND disbands Ajumogobia's peace initiative
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Vol. 3 No. 923
PDP bows to Sheriff, to hold convention in Abuja }3
Six rescued, two trapped in Abuja building collapse }8
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Pastor marries mother, daughter }9
EFCC, ICPC kick }7
Ajumogobia
Sheriff
Rescue workers
…as FG takes over high profile cases
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lNPCC to prosecute Saraki, others in forgery suit lAnti-graft agency tackles NBA
L-R: CEO, WAJE Musik Entertainment, Waje Iruobe; CEO, Dangote Foundation, Zouera Youssoufo; Director, Dangote Group, Halima Dangote; President, Dangote Group, Alhaji Aliko Dangote; Vice-President Yemi Osinbajo; Irish rock music star, Paul Hewson a.k.a. Bono and Presidential Adviser on Social Investments, Mrs. Maryam Uwais, during a visit to Osinbajo in Abuja... yesterday. PHOTO: TIMOTHY IKUOMENISAN
APC secretariat sealed with fetish objects
Buhari assures guber aspirants of level playing field HPV vaccine cuts cervical cancer rate worldwide by half
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