Supply gap in new forex market forces Naira down to N284/$ By Emeka Anaeto, Economy Editor, Babajide Komolafe & Nkiruka Nnorom
Monday, may have begun to face its first liquidity test — adequate and independent supply of
L
AGOS — THE new foreign exchange framework, which started on an impressive note,
foreign currency to the market. Dealers, yesterday, said demand appeared to be
outstripping supply, a development which forced Naira value to N284/ USD1.00, down from
N281.85 it closed on Monday. Vanguard learned that the expectation of inflow of
Oil exports on course despite militants’ attacks >21
...towards a better life for the people
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VOL. 25: NO. 63055
foreign currency from oil companies and other independent suppliers had not materialized, thereby forcing the Central Bank of Nigeria, CBN, to intervene. The apex bank had
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N200
WEDNESDAY, JUNE 22, 2016
ALLEGED FORGED SENATE RULES:
Fury in NASS over bid to dock Saraki, Ekweremadu •Buhari has turned into a dictator — SENATE •Abide by provisions of the constitution, House tells Presidency •Summons on Saraki, Ekweremadu, others served on NASS notice board •It's plot to remove S-East from prime position in govt —House S-East caucus
•No more co-operation with APC govt — PDP SENATORS
By Henry Umoru, Joseph Erunke & Johnbosco Agbakwuru
A
BUJA— OUTRAGE overflowed in the two chambers of the National Assembly, yesterday, over bid to arraign the two presiding officers of the Senate for alleged forgery of the Senate Standing Rules 2015, with the Senate pointedly accusing
Continues on page 5
Nobody in Nigeria can seize my property —Jimoh Ibrahim >11
Mr & Mrs NEW IGP: President Muhammadu Buhari flanked by out-going Inspector-General of Police, Mr. Solomon Arase (left) and Acting Inspector-General of Police, Mr. Idris Ibrahim, after an audience with the President at the Presidential Villa, Abuja, yesterday. Photo: Abayomi Adeshida. Story on Page 8.
COLUMNISTS: 13 years on:Ebonyi govt, host communities, Ibeto partner on resuscitation of S-East NIGERCEM See inside
Facing up to an incompetent political class
New wife hopeless at housework
•P.17
•P.41
CJN's appointment: Courting trouble •P.19
Fayose's account: Call EFCC to order, PDP govs tell >11 Buhari