The Nation September 05, 2012

Page 1

Nigeria’s widest circulating newspaper

Gunmen kill Ekiti Varsity lecturer

Ripples over Oyinlola’s N18.3b Osun loan

NEWS

NEWS

•It’s unneccesary, says ex-HOS

Page 45

Page 7

•Friend also killed in attack

www.thenationonlineng.net

TR UTH IN DEFENCE OF FREEDOM TRUTH

VOL. 7, NO. 2239 WEDNESDAY, SEPTEMBER 5, 2012

N150.00

Jonathan, Dangote, others back N5000 amid protest Economic Team endorses plan

•From left: Chairman of Forte Oil, Mr. Femi Otedola, President of Dangote Group of Companies, Alhaji Aliko Dangote, Group Managing Director of Access Bank, Mr. Aigboje Aig-Imoukhuede, and the President’s Special Adviser on Performance Monitoring and Evaluation, Prof. Sylvester Monye, during the Economic Management Team’s meeting at the Presidential Villa, Abuja... yesterday

From Vincent Ikuomola, Abuja

O

PPONENTS of the N5000 banknote may have lost the battle, it emerged yesterday. The National Economic Management Team (NEMT) – a conclave of some senior government officials and prominent businessmen – blessed the idea, following a briefing by Central Bank of Nigeria (CBN) Governor Sanusi Lamido Sanusi. The President had earlier approved the proposal. But the battle to stop the new banknote got onto the street yesterday, with protesters seizing the frontage of the CBN office in Abuja. The new higher denomination will be introduced along with the new coins of N5, N10 and N20. The policy is expected to take effect in 2013. Meanwhile, the National Asembly has asked the CBN to pull the brakes on the proposal - for now. But NEMT argued that it was the primary responsibility of the CBN to effect changes in the nation’s currency with the approval of the President. The economic team also allayed the fear that the note will heighten inflation, saying that there is no link between inflation and currency denomination. Besides, the group argued that the introduction of the higher currency will help shore up the naira’s value as most people who store money in hard currency will now embrace the high denomination. The NEMT, which is headed by the President, comprises the Minister of Finance and coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala, Sanusi, Minister of National Planning Dr. Shamsudeen Usman, Director General of the Security and Exchange Commission (SEC), Director General of the Bureau for Public Enterprises (BPE), one representative each of governors of the South and the North as well as key private Continued on page 2

PHOTO: AKIN OLADOKUN

Police nab man with Cynthia’s phone

But the question now is this...the CBN is trying to place a patient on chemotherapy before diagnosing cancer

By Jude Isiguzo

T

talk on the state of health of the First Lady because those who followed her to Germany have been censored by security agencies. “None of them has been allowed to establish telephone contacts with Nigeria to avoid a misrepresentation of the state of health of Her Excellency. “Only the First Family has up to date information on how she is faring. That is why it has been difficult to issue a state-

HE police have made another breakthrough in their investigation into the murder of Nasarawa State Graduate student Cynthia Osokogu. Miss Osokogu, 25, was last month lured to Lagos by two men she met on a social media site, who lodge her in a hotel in Festac, where they allegedly murdered her. Four men are in custody in connection with the murder. Lagos State Police Commissioner Umar Manko said the late Miss Osokogu’s blackberry Bold 5 (9910 model) handset was recovered from Nonso Ezike in Port Harcourt, Rivers State. He said Ezike is a graduate of Mathematics and Computer Science of the Federal University of technology (FUTO), Owerri. Manko said the develop-

Continued on page 2

Continued on page 2

If I were the CBN Governor, I will prefer to print N10,000 notes. Last year, Nigeria spent N47billion to print these small, small notes

•Melaye addressing the protesters...yesterday

PHOTO: SANNI ONOGU

Ailing First Lady’s aides can’t make calls

N •Mrs Jonathan

IGERIANS may have to wait for a while to ascertain the condition of the First Lady, Mrs. Patience Jonathan, following security censoring of some of the key aides who followed her to Germany for medical treatment. It was learnt last night that the aides have been barred from telephone contacts with Nigeria. But a source in government last night confirmed that the First Lady was a victim of food poisoning in Dubai .

•Treating food poisoning abroad is ridiculous, says Okogie •See Page 59 •Food poisoning, by nutritionist From Yusuf Alli and Yomi Odunuga Abuja

The source said the fact-sheet indicated that she did not undergo any surgery in Germany, as reported by a section of the media. The source said: “No one can actually

•SPORT P23 •MONEY P30 •INVESTORS P32 •POLITICS P43 •LIFE P25


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