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BusinessDay 13 April 2018

BusinessDay 13 April

usinessday market monitor Commodities Brent Oil $70.61 Cocoa US $2,524.00 NSE Biggest Gainer Biggest Loser Mobil Dangcem N200 4.17pc N258 -0.77pc 40,808.48 Bitcoin 2,426,498.59 +0.81pc Powered by Everdon Bureau De Change $-N £-N €-N BUY SELL 360.00 363.00 501.00 511.00 435.00 445.00 FOREIGN EXCHANGE TREASURY BILLS Market Spot $/N 3M 6M I&E FX Window 359.88 0.00 0.56 CBN Official Rate 305.55 13.18 14.31 FMDQ Close 5 Years 0.00% 13.50% FGN BONDS 10 Years -0.74% 13.61% 20 Years 0.00% 13.53% NEWS YOU CAN TRUST I **FRIDAY 13 APRIL 2018 I VOL. 15, NO 32 I N300 @ g Oando shares appreciate by 10% as technical suspension lifted ... 178m shares on bid BALA AUGIE suspension on the trading of the company’s shares was lifted for a second time by the Nigerian Stock Exchange (NSE). The shares of the company Inside Continues on page 33 Wale Tinubu, CEO, Oando To the relief of Oando shareholders, investors and the general public, the technical Mobile ecosystem to be worth over $50bn to W/African economy by 2022 ... 50% of impact attributed to Nigeria KEMI AJUMOBI Recently, the GSMA released The Mobile Economy West Africa 2018 re- Continues on page 35 Senate suspends pro-Buhari senator for 90 legislative days OWEDE AGBAJILEKE, Abuja The Senate on Thursday suspended the senator representing Delta Central Continues on page 35 Eagles brand soars on back of investor confidence The scarcity of Nigerian passports at immigration offices nationwide has worsened with resultant hardship for citizens intending to procure the document for overseas travel. A source close to the passport office who craved anonymity told BusinessDay that Nigerian L-R: Sina Alimi, deputy CEO, PanAfrican Capital Holdings; Obinna Anyanwu, CWEIC country head for Nigeria; Abdul Quadirr, CWEIC head of business development; Chris Oshiafi, CEO, PanAfrican Capital Holdings; Richard Burge, CWEIC chief executive, and Eric Okoruwa, managing director, PAC Capital, as PAC Holdings enters strategic partnership with CWEIC. Passport scarcity worsens as Immigration owes foreign printers Spends N24bn per annum on printing booklets abroad IFEOMA OKEKE BD INVESTIGATIVE SERIES international passports are currently scarce because the immigration service owes its foreign technical partners huge debts running into billions of naira. “We are at the mercy of these technical partners who have refused to produce and print out the passports booklets because the government owes them. They have insisted that until the government pays its debt, they will not produce passports for Nigeria.” BusinessDay checks show that the passport booklets are presently being produced by Iris Smart Technology Nigeria (ISTL) through its parent company, Iris Corporation, based in Malaysia. A company in Netherlands is responsible for the bio-metrics and security details inserted into the passports, while a South African firm provides the ink used for the printing done on the passports. The source explained that last Continues on page 4 FOLUSO GBADAMOSI The technology advocate

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