The main headlines of the mainstream Nigerian newspapers for Thursday, August 30, 2019 are focused on the alleged fraud uncovered in four commercial banks by the Central Bank of Nigeria (CBN). The banks are to refund N5.87 billion to CBN.
The Guardian reports that four commercial banks have been sanctioned by the Central Bank of Nigeria (CBN) for various forgeries in foreign exchange transactions between 2007 and 2015. For these infractions, they are to refund N5.87 billion to the apex bank.
According to the CBN, the sanctions are essentially for “flagrant violation” of extant laws and regulations of the Federal Republic of Nigeria and the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, 1995, and the Foreign Exchange Manual 2006.
The Nation reports that the Debt Management Office (DMO) yesterday put Nigeria’s external debt stock at $22 billion. Out of the amount, the federal government’s quotient is $17.8 billion, while the combined debt portfolio by the states and the Federal Capital Territory (FCT) stands at $4.28 billion.
Of the combined states’ figure, Lagos state, the commercial nerve-centre of Nigeria, has the highest foreign portfolio of $1.45 billion, or 33.88% of the states’ debts.
The Punch reports that President Muhammadu Buhari on Wednesday assured the British prime minister, Theresa May, that he was all out to ensure free, fair and credible elections in 2019. He said he was pleased that his party, the ruling All Progressives Congress, was doing well.
The special adviser to the president on media and publicity, Femi Adesina, disclosed this in a statement made available to journalists shortly after Buhari held a closed-door meeting with May at the Presidential Villa, Abuja.
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Vanguard reports that the last has not been heard of the sacked director general of the Department of State Service (DSS) Lawal Daura, as PRNigeria learnt on good authority that neither was he given query over any issue nor indicted on his handling of affairs of the service until his sack.
A close associate to the sacked DSS boss who spoke to PRNigeria on conditions of anonymity said that Daura insisted that he took all actions in national interest through a collective responsibility, including involvement of principal officers of sister agencies even though he promised not to disclose on whose authority he relied on to lay the siege on the National Assembly.
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