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CBN Raises Rate By 50 Basis Points To 26.75%

CBN Raises Rate By 50 Basis Points To 26.75%

CBN Raises Rate By 50 Basis Points To 26.75% .The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate by 50 basis points from 26.25 per cent to 26.75 per cent. The Governor of the bank, Mr. Olayemi Cardoso disclosed this at an ongoing press conference to announce the outcome of the just concluded Monetary Policy Committee meeting in Abuja. The bank set a new Asymmetric Corridor of +500/-100 from +100/-300 around the MPR; a Cash Reserve Ratio of 45 per cent for Deposit Money Banks and 14 per cent for Merchant Banks, while Liquidity Ratio was left…
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Tinubu Signs North West Development Commission Bill Into Law

Tinubu Signs North West Development Commission Bill Into Law

Tinubu Signs North West Development Commission Bill Into Law President Bola Tinubu has given presidential assent to the North West Development Commission Bill. Speaking on the bill, the sponsor and the Deputy Senate President, Jibrin Barau, commended the passage of the bill, He noted that with the presidential assent, the Federal Government intervention agency will address the deleterious state of infrastructural facilities in the region. Speaking with journalists on Tuesday in Abuja, Barau noted that it would mitigate the poor state of infrastructure in the region destroyed by the terror gang, Boko Haram. He added, “The President has signed the…
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President Of Gabon Invites Dangote To Invest In Cement, Fertilizer Production

President Of Gabon Invites Dangote To Invest In Cement, Fertilizer Production

Gabon President Invites Dangote To Invest In Cement, Fertiliser Production The Chairman Dangote Industries Limited, Aliko Dangote has been invited by President Brice Oligui Nguema of Gabon to invest in cement and fertiliser production in the country, media office of Dangote Group said on Tuesday. The richest Africa man was invited to explore investment opportunities in cement and fertiliser (urea and phosphate). Parts of the statement read: “President Brice Oligui Nguema of Gabon has invited the President and Chief Executive Officer of Dangote Industries Limited (DIL), Aliko Dangote to invest in Cement and Fertiliser production in Gabon. “The President urged…
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Atiku Declares Support For Planned Nationwide Protest

Atiku Declares Support For Planned Nationwide Protest

Atiku Declares Support For Planned Nationwide Protest The former Vice President of Nigeria, Atiku Abubakar as reacted to the ongoing #plannednationwideprotest. Atiku declared his support for the planned nationwide protest. He stated that it is the constitutional rights of citizens to peacefully assemble and express their grievances. Atiku reiterated that these rights are enshrined in the Nigerian Constitution and affirmed by the courts. “For the avoidance of doubt, the rights of citizens to protest are enshrined in the Nigerian Constitution and affirmed by our courts. “Section 40 of the 1999 Constitution (as altered) unequivocally guarantees the right to peaceful assembly…
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Food Insecurity: Rt Hon. Benjamin Kalu Inaugurates Committee As National Assembly Moves To Provide Sucure For Nigerians

Food Insecurity: Rt Hon. Benjamin Kalu Inaugurates Committee As National Assembly Moves To Provide Sucure For Nigerians

𝐅𝐨𝐨𝐝 𝐈𝐧𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐲: 𝐑𝐭 𝐇𝐨𝐧 𝐁𝐞𝐧𝐣𝐚𝐦𝐢𝐧 𝐊𝐚𝐥𝐮 𝐈𝐧𝐚𝐮𝐠𝐮𝐫𝐚𝐭𝐞𝐬 𝐂𝐨𝐦𝐦𝐢𝐭𝐭𝐞𝐞, As National Assembly Moves To Provide Sucure For Nigerians Food insecurity is a pressing issue that affects millions of people around the world, including in Nigeria. In an effort to address this challenge and prioritize agriculture, the deputy speaker of the House of Representatives, Rt Hon Benjamin Okezie Kalu, recently inaugurated the National Legislative Network on Nutrition and Food Security in Abuja. This committee has been tasked with the responsibility of initiating strategic legislative processes and actions to tackle food and nutritional challenges in the country. During the inauguration ceremony, Rt Hon…
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Flag-Off Of ABIA Medical Village Imminent As Gov. Otti Targets Transforming ABIA Into A Destination For Medical Tourism

Flag-Off Of ABIA Medical Village Imminent As Gov. Otti Targets Transforming ABIA Into A Destination For Medical Tourism

FLAG-OFF OF ABIA MEDICAL VILLAGE IMMINENT AS GOV. OTTI TARGETS TRANSFORMING ABIA INTO A DESTINATION FOR MEDICAL TOURISM. The Abia State Governor Dr. Alex Otti, OFR, has disclosed that he will soon flag-off the Abia Medical Village to transform Abia into a destination for medical tourism. Governor Otti made the disclosure on Sunday 21st July, in his Umuehim Nvosi country home, Isiala Ngwa South LGA when he played host to the Extended Hands of Grace and Lifted Hands team from the United States of America (USA), who came to Abia on a medical mission at Umuekwule village, Afugiri in Umuahia…
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We Are Resolute About Ending Divisive Governance In ABIA – Gov. Otti

We Are Resolute About Ending Divisive Governance In ABIA – Gov. Otti

WE ARE RESOLUTE ABOUT ENDING DIVISIVE GOVERNANCE IN ABIA – GOVERNOR OTTI The Executive Governor of Abia State, Dr. Alex Otti, OFR has said that his administration is resolute about ending divisive and clannish governance in Abia State. Governor Otti stated this on Sunday 21st July 2024, at the Wesley Methodist Church Umuekwule Afugiri, Umuhia North Local Government of Abia State during the thanksgiving service of the Onwuneme family for the successful burial of Princess (Mrs.) Victoria Nkolika Onwuneme. Governor Otti stated that his administration’s only focus is on good governance and ensuring that the dividends of democracy spread across…
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Gov. Otti Meets With The Mgt & Members Of The Senate Of ABIA State University, Resolve Outstanding Salary Issues

Gov. Otti Meets With The Mgt & Members Of The Senate Of ABIA State University, Resolve Outstanding Salary Issues

GOVERNOR ALEX OTTI MEETS WITH THE MANAGEMENT AND MEMBERS OF THE SENATE OF ABIA STATE UNIVERSITY, RESOLVE OUTSTANDING SALARY ISSUES . On Saturday July 20th, the Executive Governor of Abia State His Excellency, Dr. Alex Otti met with the Management and Members of the Senate of Abia State University at his Country home, Umuehim Nvosi in Isialangwa South Local Government Area to resolve all pending issues regarding verification and payment of salary to the staff of the University. During the meeting, it was confirmed that all the Staff of Abia State University, both verified and unverified have been paid their…
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Abuja Based Lawyer/Human Rights Activist Eme Kalu Ekpu Thanks President Tinubu Over Local Government Autonomy

Abuja Based Lawyer/Human Rights Activist Eme Kalu Ekpu Thanks President Tinubu Over Local Government Autonomy

AN ABUJA-BASED LEGAL PRACTITIONER AND HUMAN RIGHTS ACTIVIST EME KALU EKPU ESQ. HAS THANKED PRESIDENT AHMED TINUBU ON THE SUPREME COURT JUDGEMENT GRANTING FINANCIAL AUTONOMY TO THE LOCAL GOVERNMENTS AND HARPED ON THE NEED FOR REGIONAL AUTONOMY AS A PANACEA TO SOLVING NIGERIAN COMPLEX CHALLENGES. An Abuja-based legal practitioner, human rights activist and the Chairman of The Rainbow Patriots for Justice Foundation, an NGO that focuses on promoting social justice, equality and human rights Eme Kalu Ekpu Esq. has expressed his deepest gratitude to President Ahmed Tinubu for the watershed Supreme judgement granting financial autonomy to local governments in Nigeria.…
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