Fitch downgrades Nigeria’s credit rating to ‘B+’ By Babajide Komolafe
L
AGOS— INTERNATIONAL agency, Fitch Ratings, yesterday downgraded Nigeria’s credit ratings, indicating
•As Naira strengthens to N282/$ increased likelihood that the country will not be able to meet its debt
obligations. Meanwhile, the naira, yesterday, strengthened
for the second consecutive day, as the interbank foreign
exchange rate dropped to N281.67 per dollar. Citing increased fiscal
New FX regime to add N1trn to revenue estimates >P.8
...towards a better life for the people
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VOL. 25: NO. 63057
and external vulnerability, slow fiscal and monetary adjustments and renewed insurgency in the Niger Delta, the Fitch downgrade Continues on page 16
ONLINE | www.vanguardngr.com
N200
FRIDAY, JUNE 24, 2016
Saraki, Ekweremadu must answer forgery charges — JUSTICE MINISTER & ATTORNEY-GENERAL, ABUBAKAR MALAMI Says they're entitled to fair hearing under the law
By Soni Daniel, Nothern Region Editor & Ikechukwu Nnochiri
A
BUJA — THE Attorney-General of the Federation, AGF, and Minister of Justice, Mr. Abubakar Malami, SAN, yesterday, insisted that Senate President, Dr. Bukola Saraki; and his deputy, Ike Ekweremadu, have a case to answer over Continues on Page 5
Withdrawal of support for Buhari: Go to hell, APC Senators tell PDP counterparts >>8 BREAKING OF FAST:
President Muhammadu Buhari (right) addressing members of the judiciary during breaking of fast at his residence, in Abuja, yesterday. Photo: State House.
Nigerian Army to probe coup rumour COLUMNISTS: OYO PROTESTS:
Turning the villain 16 American massacres and to hero See inside
the Dollar •P.19
Frivolous show-offs! •P.17
>>9
Aisha Buhari to Fayose: Retract your story on Halliburton scandal or face legal action >>9
Mr & Mrs