As the Monetary Policy Committee meets on Monday, a financial expert, Prof. Uche Uwaleke, says the committee will likely increase the baseline lending rate by another 100 basis points. Uwaleke, a Professor of Capital Market and the President of Capital Market Academics of Nigeria, said this in an interview with the News Agency of…As the Monetary Policy Committee meets on Monday, a financial expert, Prof.
This led to a cumulative increase of 600 basis points, moving the MPR from 18.75 per cent to 24.75 per cent, in line with aggressive tightening of the CBN to target spiralling inflation.“Inflation rose year-on-year in March in spite the hike in February, and the exchange rate has yet to stabilise.“Again, following the IMF/World Bank spring meetings last April, the CBN has received praise from the IMF and some global rating agencies such as Fitch for its monetary policy tightening stance.
“If I were a member of the MPC, I will vote for a hold position as the aggressive policy rate hike is taking a toll on output. The National Drug Law Enforcement Agency has intercepted drugs concealed in gas cylinders, steel bolts, vape pens and water bottles. NDLEA's spokesperson, Femi Babafemi, disclosed this in a video on his X account on Sunday. In the video, Babafemi showed the moment NDLEA officers uncovered the hidden contraband.
The National Drug Law Enforcement Agency has declared a couple, Kazeem Owolade and Rashidat Owolade, wanted for running a cocaine cartel from India. Four members of their syndicate were arrested in Lagos, leading to the seizure of a car, houses, and cocaine. According to a statement, on Saturday, by NDLEA’s Director,…
With the US troop withdrawal from military-led Niger underway and due to be over by September 15, Washington is preparing to abandon its str