The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday left the Monetary Policy Rate (MPR) unchanged at 14%. It is the 15th consecutive time that the MPR, the determinant of interest rate, has been left untouched by the MPC. Making the announcement at the CBN headquarters at Central Business District, in Abuja, Godwin Emefiele, the CBN Governor, said the decision was unanimously taken by all members of the committee. The last time CBN's MPC touched the MPR was in July 2016, when it opted to raise it by 200 basis points to 14.0 percent. At the end of that July 25-26, 2016 meeting, it also voted to retain the Cash Reserve Ratio (CRR) at 22.5 percent, retain the asymmetric corridor at +200/–500 basis points, and retain Liquidity Ratio at 30 percent.
Less than two days after exchanging heated letters during which each called the other "sick", former President Olusegun Obasanjo and President Muhammadu Buhari have met at the National Council of State meeting currently going on in Abuja. In stark contrast to the pre-meeting events, the two leaders were photographed exchanging smiles on Tuesday. On Sunday, Obasanjo had released a statement titled ‘Points for Concern and Action’, in which he likened Buhari to late dictator Sani Abacha over his alleged intimidation of the opposition and critics of his government. Obasanjo had submitted that the people should not allow themselves to be deceived by Buhari for a second time. However, Buhari responded via his spokesman Garba Shehu, saying Obasanjo needed the help of a "doctor" so he "could get
One vitriolic letter after another since early last year, Ex-President Olusegun Obasanjo has refused to cut Muhammed Buhari, the incumbent President, some slack. These missives are not just well-meaning; they are jeremiad of sorts detailing the seeming failures of the Buhari-led administration. Buhari and his loyalists have not been taking the criticism from the Ota farmer lying down too. Every letter is often met with a rejoinder dripping with equal measure of bile if not more from Buhari’s camp too. Yesterday, Obasanjo wrote another condemnatory open letter to Buhari. But it wasn’t always that way between the duo. These are five good remarks Obasanjo made about Buhari before a wedge was driven into their relationship by God-knows- what. See Also Sahara Reporters FL
Following the current pace of ratification, the African Continental Free Trade Area Agreement can be in force by mid-year. The post Hope for African free trade appeared first on News Agency of Nigeria (NAN).
“The measure of intelligence is the ability to change” - Albert Einstein Charles Robert Darwin (1809-1882) was an English naturalist, geologist and biologist. He propounded the theory of evolution which has become a very important, albeit controversial contribution to science. In his theory, he reached a very important conclusion; those species that cannot adapt to change, face extinction. This is the summary of my piece today and it is important to relate it to Nigeria. Darwin's Theory of Evolution contends that all life descended from a common ancestor and that are all related. It presumes the development of life from non-life, insisting on a purely naturalistic (undirected) "descent with modification". His main thesis was that complex creatures naturally evolve from more s
The All Progressives Congress (APC) Presidential Campaign Council says the visit of Atiku Abubakar, presidential candidate of the Peoples Democratic Party (PDP), to the United States of America “smacks of things local ‘yahoo yahoo’ boys do to scam their victims”. For the first time after more than a decade, Atiku stepped foot in the US on January 17, 2019. See Also Breaking News VIDEO: Atiku Arrives In US All Smiles In Saraki's Company 0 Comments 3 Days Ago There had been speculations that Atiku stayed away from the US allegedly due to the belief he would be arrested over allegations of corruption, including one by US congressman Williams Jefferson that part of the $100,000 cash found in his refrigerator was intended as bribe for Atiku for his role in helping
CBN), said any failed instant payment transaction not reversed into the customer’s account within 24 hours after complaint by the sender or beneficiary should be reported to CBN The post CBN challenges bank customers on failed e-transactions appeared first on News Agency of Nigeria (NAN).
Rochas Okorocha, Governor of Imo State, has dismissed reports of his suspension by a faction of the state chapter of the All Progressives Congress (APC). A statement by Sam Onwuemeodo, his Chief Press Secretary noted that the challenge of APC in Imo State is the imposition of candidates into key positions by Adams Oshiohmole, the National Chairman of the party. According to Okorocha, the faction pushing for his suspension are a "league of fraudsters". Okorocha said: “There is only one APC in the state with Hon. Daniel Nwafor as the Chairman and Owelle Rochas Okorocha as the leader. Any other group claiming to be a faction of Imo APC must obviously be a gang of 419ers or league of fraudsters who are experts in the issuance of dud cheques and collecting billions for jobs not do
Adams Oshiomhole, National Chairman of the All Progressives Congress (APC) has taken a swipe at past leaders whom he claimed are not in support of the president's reelection bid. He stated this on Saturday during the APC presidential campaign rally in Minna, the Niger State capital. His words: "The generals, especially past leaders, have ganged up and reached a conclusion that President Buhari should not continue. “When he ruled more than eight years, and when he ruled for more than eight years, they now do not want Buhari to complete his tenure. “The future of Nigeria is in the hands of very few Nigerians, especially the generals. Why do they believe Nigeria belongs to them? Let us not forget that Buhari was removed after spending less than three years and was put
The Director General of Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside said all the candidates of the All Progressives Congress (APC) in Rivers State will be on the ballot in the February and March general election. The post Rivers APC candidates will make the ballot: Peterside appeared first on News Agency of Nigeria (NAN).