WTO: Finally, US Backs Okonjo-Iweala as Main Challenger Withdraws Festus Akanbi At last, the United State government yesterday gave its formal approval to the emergence of Nigeria’s former Minister of Finance, Ngozi Okonjo-Iweala as the next Director General of the World
Trade Organization, removing the final obstacle to her bid to be the first woman and the first African to run the Geneva-based trade body. In a swift response last night, Okonjo-Iweala expressed gratitude to President Muhammadu Buhari and
Nigerians for their unflinching support for her run to become the director-general of the WTO. She also expressed her gratitude to the US, and congratulated Yoo Mhung-Hee for “a hard fought campaign”. She tweeted: “Thank You
President Buhari and all Nigerians for your unflinching support. Thank you friends. Love to my family. Glory to God.” The endorsement of the candidacy of the Nigerian former minister was sequel to the withdrawal of her main
challenger, the South Korean Trade Minister, Yoo Myung-hee from the race. In a symbolic approval, the United States Trade Representative office in a statement yesterday said: “Dr. Okonjo-Iweala brings a wealth of knowledge in economics
and international diplomacy.” The statement reads: “The United States takes note of today’s decision by The Republic of Korea’s Trade Minister Yoo Myung- hee to withdraw her candidacy for Continued on page 5
Capital Importation Slumps to $9.68bn, Lowest in 4 Years… Page 5 Saturday 6 February, 2021 Vol 25. No 9435
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CBN Hammers Cryptocurrency Traders, Directs Banks to Close Their Accounts Festus Akanbi The Central Bank of Nigeria yesterday directed banks and other financial institutions to immediately close any accounts dealing in cryptocurrency or facilitating
payment for crypto currency exchange, with immediate effect. A cryptocurrency (or crypto) is a digital unregulated currency that can be used to buy goods and services, but uses an online ledger with
strong cryptography to secure online transactions. Much of the interest in the currency, not backed by any government, is to trade for profit, with speculators at times driving prices skyward. The banking regulatory
authorities directed banks to expose any individual and entity running such accounts, warning that failure to adhere to the directives would attract strict sanctions. The apex bank, in its circular on the issue cautioned deposit
money banks, (DMBs) nonbank financial institutions (NBFIs) and other financial institutions (OFIs) and members of the public on the risk associated with transactions in cryptocurrency. The circular was signed
by the Director of Banking Supervision, Bello Hassan and the Director of Payments System Management Department, Musa Jimoh. Continued on page 5
Farmers-Herders Crisis: Uzodimma, Bagudu, Badaru Seek Unity, Peaceful Co-Existence Urge governors to protect all within their states FG rising stoutly to challenges of insecurity, says Lai Mohammed Charles Ajunwa in Lagos and Amby Uneze in Owerri Determined to ensure a harmonious relationship among ethnic nationalities wherever they reside in the country, Governor Hope Uzodimma of Imo State yesterday hosted a peace parley in Owerri, with the governors of Jigawa and Kebbi states, Mohammed Abubakar Badaru and Atiku Baguda, respectively, in attendance. The parley was also aimed at easing tension between farmers and herders in the South-east, and to promote peace between Christians and Muslims in the region. On the same day, amid escalating killings by Boko Haram, bandits, criminal herders and kidnappers in the country, the Minister
of Information, Alhaji Lai Mohammed declared that the federal government, “is rising stoutly” to the numerous insecurity challenges and that government is alive to its responsibility. Uzodimma said he convened the interactive meeting for the purpose of fostering harmonious relationships among all the groups listed. Addressing the audience at the Executive Council Chamber, Government House Owerri, Uzodimma harped on the need for sustainable harmonious and peaceful relationship between all tribes in Nigeria, irrespective of religious beliefs or political inclination. He lamented the current security challenges in the Continued on page 5
CONDOLENCE VISIT... L-R: Delta State Governor, Dr. Ifeanyi Okowa and the Governor, Central Bank of Nigeria, Godwin Emefiele, during a condolence visit to Okowa by the CBN governor over the death of the Delta governor’s father, Chief Arthur Okowa…yesterday
DPR Targets $500m from Signature Bonuses to Boost FG's Revenue… Page 5