The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has announced a retention of the country’s Monetary Policy Rate (MPR) at 11.5 per cent for the upteenth time. Mr Godwin Emefiele, the CBN Governor, who announced this on Monday in Abuja while reading a communique from the apex bank’s second MPC meeting for 2022, said that the committee also decided to hold all other parameters constant. The Assymetric Corridor of +100 -700 basis points around the MPR was retained, Cash Reserve Ratio (CRR) retained at 27.5 per cent; and the Liquidity Ratio retained at 30 per cent.…
Author: Newsdesk
The Peoples Democratic Party (PDP) has called on the Independent National Electoral Commission (INEC) to issue certificates of return to Iduma Igariwe and Fred Udogwu as governor and deputy governor of Ebonyi state, respectively following the Federal High Court Abuja’s refusal to grant stay of execution to sacked governor David Umahi. Recall that Federal High Court refused to grant Stay of Execution to the former Governor David Nweze Umahi of Ebonyi State and his Deputy, Kelechi Igwe over their removal from office by the Court. The PDP on Monday told INEC to invoke the provisions of Section 287(3) of the…
The Transition Monitoring Group (TMG) in Nigeria says it is prepared to strengthen the country’s democracy as well as promote citizens participation in all stages of the process and strengthen good governance. The chairman of the Group, Auwal Rafsanjani spoke at a strategy planning meeting organized by the coalition to reflect on its place in the Nigerian civic space and to relaunch itself on Monday. According to him, as the 2023 general elections approaches, TMG is ready to mobilize its teeming member organizations across the country to engage critical aspects of the process. Rafsanjani stressed that there were “several aspects…
Following the sack of the 18 House of Assembly members and two House of Representatives members in Cross River state by Federal High Court, Abuja for joining governor Ben Ayade in June 2021, the Peoples Democratic Party, PDP, says it is looking for their replacements. Recall that Justice Taiwo Taiwo, while ruling on suit No. FHC/ABJ/CS/975/2021 held that the lawmakers, having abandoned the political party that sponsored them to power, ought to vacate their seats. The state chairman of the PDP, Venatius Ikem Esq expressed satisfaction over the judgement which he described as heartwarming. “It is a very heartwarming judgement…
Vice President Yemi Osinbajo says the private sector is expected to invest N298 trillion or about 86 per cent of the projected investments in the National Development Plan (NDP) 2021-2025. Osinbajo’s spokesman, Laolu Akande in a statement in Abuja, said the vice president made the disclosure on Monday at the inauguration of the state-of-the-art Toyota Service and Research Facility in Lagos. The world-class facility is said to be among the first of its kind in West Africa with varied capacity for research, training and skilling. The vice president said that in line with its objective of creating a more conducive…
A social worker, Mrs Rasheedat Sanusi on Monday, told an Ikeja Domestic Violence and Sexual Offences Court how one Ismail Abdulmadiu allegedly defiled a minor in his care on her first day of menstruation. Sanusi testified at the continuation of Abdulmadiu’s trial on a count charge of defilement. Led in evidence by state counsel, Mrs Olufunke Adegoke, Sanusi said that she had served Lagos State Government for 20 years as a social worker. According to her, she is currently serving at the state’s Education District One, Agege. The social worker said that the minor, aged 13, confided in her school teacher that she…
Fire outbreak has engulfed a building in Javino, an area of Gauraka in Tafa local government area of Niger. Some eyewitnesses said on Monday that the inferno was caused by activities at the building where fuel was stored illegally. With fuel scarcity in the country, the owner of the goods was said to also store diesel in tanks for sale to customers as ‘black market’. According to eyewitness, the owner at about 6:35am attempted to use a pumping machine to fill an iron keg leading to the fire outbreak. The fire rose to consume other tanks containing fuel and diesel,…
United States Ambassador to Nigeria, Mary Leonard says the reopened American Corner in Ibadan will connect youth with opportunities on digital exchanges in USA. Leonard stated this on Monday at the official opening of the remodeled American Corner, Ibadan. According to her, U.S. appreciates its partnership with the Initiative for Information, Arts and Culture Development (IACD) which hosts the American Corner. She added that the U.S. Consulate had expanded and reconfigured the centre to better serve local communities in Oyo State through provision of space for people to connect with US and learn about educational opportunities, especially for young people.…
An All Progressives Congress (APC) vice chairmanship aspirant from North Central, Yusuf Elaigwu has vowed that he would not step down for any aspirant irrespective of any consensus arrangement. Elaigwu made the vow after purchasing the N5 million expression of interest form on Monday in Abuja. According to him, he had made enough sacrifices for the party before now, especially by stepping down for other aspirants as a way of loyalty to the party. This time around, Elaigwu said would not toe that path, adding that he would want the party to also support his quest to serve the APC.…
In apparent show of concern over suspected attacks by the Independent People of Biafra, IPOB, in Imo state; frequent power failure and the nation’s economic duldrum, President Muhammadu Buhari on Monday, invited Imo governor, Hope Uzodinma; the Minister of Power, Abubakar Aliyu and the Chief Economic Adviser, Prof Doyin Salami, to a meeting at the Presidential Villa on Monday afternoon. Presidential spokesperson, Garba Shehu through his Twitter handle @GarShehu on Monday said Buhari will “meet separately with them and he would be apprised of the latest developments in Imo State, the power sector and the state of the economy. “It…