MONDAY 21TH SEPTEMBER 2020

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CBN Investigates More Companies over Suspected FX Infractions Stallion Nigeria, Interswitch, Flour Mills, Promasidor Nigeria affected Obinna Chima In order to ensure that the country's forex resources are prudently managed and used for the importation of priority goods, the Central Bank of

Nigeria (CBN) has further beamed its searchlight on more bank customers and unauthorised FX dealers. An anonymous source in one of the Deposit Money Banks (DMB) at the

weekend told THISDAY that CBN has requested for all accounts (both Naira and foreign currency) of over 100 suspected companies, who specialise in buying forex from certain unauthorised sources

without passing through the legitimate sources, thereby avoiding documentation and overheating the exchange rates. CBN, he added, is also investigating the avenues through which

the companies source forex that they eventually sell to counterparties, who buy and repatriate the funds otherwise known as free funds. Whereas CBN recognises that certain little payments

of sums below $10,000 could be made for travels, school/ boarding fees, subscription, fees, hospital bills among others with little or no Continued on page 9

NNPC to Unveil Successful Bidders for Pipeline Rehabilitation Q1, 2021... Page 8 Monday 21 September, 2020 Vol 25. No 9296. Price: N250

www.thisdaylive.com TR

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Buhari, Babangida, Tinubu, Others Mourn Idris, Emir of Zaria...Page 5

Be Magnanimous, Buhari Urges Obaseki as PDP Routs APC in Edo My victory, triumph against godfatherism, says Edo gov APC rejects election results, to decide on next step Atiku, Saraki Tambuwal, others greet gov-elect Deji Elumoye, Omololu Ogunmade in Abuja, Nseobong Okon-Ekong, Chuks Okocha and Adibe Emenyonu in Benin In an unusual move, President

Muhammadu Buhari yesterday swiftly congratulated Edo State Governor, Mr. Godwin Obaseki, who posted a resounding victory in last Saturday’s governorship election, trashing his main

WINNERS

challenger, Pastor Osagie IzeIyamu of the All Progressives Congress (APC). For Obaseki’s party, the Peoples Democratic Party (PDP), it was a spectacular rebound under its fire-spitting

National Chairman, Prince Uche Secondus, reclaiming a state it lost in 2012. The outcome of the contest left APC, the ruling party at the centre, dumb-founded as PDP routed it in 13 of the 18

local government areas of the South-south state, returning the oil-rich region to its firm grip. With the emphatic victory, PDP now controls the entire South-south states, including

Akwa Ibom, Bayelsa, Cross River, Edo, Delta, and Rivers. Obaseki was declared winner in the keenly contested election by the Chief Returning Continued on page 9

LOSERS

Obaseki

Secondus

Ize-Iyamu

Oshiomhole

Adamu

Yakubu

Tinubu

Mala-Buni

See Winners and Losers stories on pages 17-19


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MONDAY 21TH SEPTEMBER 2020 by THISDAY Newspapers Ltd - Issuu