CBN Jacks Up Interest Rate From 24.75 To 26.25%

By Chris Udochukwu ABUJA – The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has increased the benchmark interest rate by 150 basis points from 24.75 per cent to 26.25 per cent. This was disclosed by the Governor of the CBN, Olayemi Cardoso, who doubles as the Chairman of the MPC at the end of the 295th MPC meeting which was held on Monday and Tuesday in Abuja. Cardoso disclosed that while the Monetary Policy Rate was increased, all other rates were retained. The MPC raised the MPR by 150 basis points to 26.25 per cent from 24.75 per cent, retained the asymmetric corridor around the MPR to +100/-300 basis points, retained the cash reserve ratio of Deposit Money Banks at 45 per cent, and held the liquidity ratio at 30 per cent. Revealing the considerations of the MPC, Cardoso said, “The key focus of the MPC at this meeting remained to achieve price stability by effectively using tools available to the monetary authority to rein in inflation. Members observed that while year-on-year inflation in April 2024 …

CBN Jacks Up Interest Rate From 24.75 To 26.25% Read More

Bill Establishing Federal University of Agriculture Borno Passes Second Reading at Senate

By Chris Udochukwu ABUJA – The 10th Senate has passed a bill to establish a Federal University of Agriculture, Bama in Borno State in North Eastern Nigeria. Senator Shehu Lawan Kaka representing Borno Central Senatorial District who sponsored the bill told the red chamber that the University would utilise the agricultural potentials of the zone, particularly, as students will not only have academic degrees but skills that make them self-employed. Kaka said, the North East and Nigerians on a larger scale needed skills in mechanic agriculture and its related research for the nation to compete with its contemporaries, stressing that the proposed University will offer that opportunity as the bill gets the support of lawmakers. “A bill for an Act to establish Federal University of Agriculture and Entrepreneurship Bama, Borno State and to make comprehensive provisions for its due management and administration and for related matters, 2024. Contributing in support of the bill, Senator Ezenwa Francis representing Imo South East Senatorial District on the platform of the Labour Party, expressed optimism in the proposed University mopping up idle youths into …

Bill Establishing Federal University of Agriculture Borno Passes Second Reading at Senate Read More

Poverty not root cause of  illegal migration– German envoy

ABUJA- The German government has said that poverty is not responsible for illegal migration to Europe. The German Ambassador to Nigeria, Mrs Annett Gunther, said this in an interview with the News Agency of Nigeria (NAN) in Abuja. According to her, poverty cannot be the root cause of irregular migration because people who migrate to Europe are not the poorest citing the North East as an example.  “The people who migrate to Europe are not the poorest. “You have a situation where people from the very poor like in North East Nigeria where there is conflict and poverty, amongst others.  “What happens there is displacement; regional migration. “They go to neighbouring countries because they cannot afford to go to Europe. “They do not have the money for the agents who smuggle them through illegal routes.  “The people who have the money and decide to go to Europe are usually kind of educated and have some money. They’re not the poorest. “I will not say poverty is the root cause of migration either legal or illegal. “Many people who migrate – …

Poverty not root cause of  illegal migration– German envoy Read More

Austria supports UK plan to send migrants to Africa

VIENNA- Austria’s  Chancellor Karl Nehammer on Tuesday said Austria will campaign in the European Union for a new migration policy in which asylum procedures would take place in African countries if necessary. He made his comments after a working meeting in Vienna with British Prime Minister Rishi Sunak, who is behind a UK plan to send migrants without the required immigration papers to Rwanda and have them apply for asylum there. Nehammer said the British plan played an important and pioneering role in the discussion. “The United Kingdom is thus paving the way for this path, which will also be important for the European Union,” said Nehammer. He pointed out those 15 states in the EU that are now in favour of this approach. Nehammer also said that sending migrants to Africa would destroy the business model of people smugglers and save human lives. Furthermore, he added that there is still a long way to go in the EU before this type of asylum procedure is actually implemented. Sunak expressed his delight for the support. He noted that it is …

Austria supports UK plan to send migrants to Africa Read More

Measles: Adamawa records 838 cases, 49 death– official

YOLA- The Adamawa Government said it had recorded no fewer than 838 cases of measles outbreak and 49 deaths in the state. Dr James Jacob, Director, Disease Control and Immunisation disclosed this to the News Agency of Nigeria (NAN) in Yola on Tuesday. He said, so far no fewer than 13,084 children were vaccinated and the cases of the disease have now reduced. According to him, the success recorded so far was as a result of political will by the top government officials in the state. He said that there was no new case as of last week but active search cases are still ongoing. Jacob called on parents and community leaders to ensure that all eligible children are vaccinated, not only for measles but to have hard immunity. “Why we are saying this is because, if the targeted children in communities are properly vaccinated, the community will have what is called hard immunity. “This will make it difficult for any outbreak in those communities”, he said (NAN)

Measles: Adamawa records 838 cases, 49 death– official Read More

Trial of far-right German suspected coup plotters begins after delay

GERMANY- The second and highest-profile trial of nine people linked to a far-right coup plot in Germany, including alleged ringleader Prince Heinrich XIII of Reuss, began on Tuesday after a delay. Originally scheduled to start at 9:30 a.m., the trial only started about 45 minutes later. A spokeswoman for the Frankfurt Higher Regional Court said the lawyers needed to speak to their clients. The alleged ringleaders of the “Reichsbürger’’ (Reich Citizens) group, Prince Reuss and Rüdiger von Pescatore, who is said to have led the military arm of the group, are on trial along with seven others. Federal prosecutors accuse them of having been members of or having supported a terrorist organisation. They include former members of the German armed forces and a former member of parliament for the Alternative for Germany (AfD) party. The trial is the second of three mammoth trials surrounding the alleged coup attempt. (dpa/NAN)

Trial of far-right German suspected coup plotters begins after delay Read More

Customs boss bags PR Impact award

ABUJA- The Comptroller General (C-G) of the Nigeria Customs Service (NCS), Adewale Adeniyi, has bagged a Public Relations (PR) impact award. Adeniyi was presented an award of excellence for his 100 days of impactful PR at the 2024 SABRE African Public Relations Association (APRA) Award, and Annual conference held at Côte d’Ivoire. The News Agency of Nigeria (NAN) reports that the SABRE awards, which started in 2017, recognise excellence in public relations, engagement, credibility and relationship building. In a statement issued by NCS’s Spokesperson, Abdullahi Maiwada, on Monday in Abuja, he quoted the C-G saying that the feat was an inspiration for him to do more to reposition customs for effective service delivery. Maiwada said that bagging the SABRE award was a demonstration of attaining the highest level of creativity, integrity, and effectiveness in both public relations and governance. “It is the largest continental awards competition for the public relations industry in Africa,” he said. He said that the C-G has expressed confidence that APRA would continue to grow stronger in driving professionalism in the PR sector. He quoted the …

Customs boss bags PR Impact award Read More

NAF@60: CAS unveils multiple welfare projects in Abuja

ABUJA- The Chief of the Air Staff (CAS), Air Marshal Hasan Abubakar, has unveiled 15 viable infrastructure projects in Abuja, to improve personnel welfare and enhance the operational capabilities of the Service. The projects were inaugurated as part of the activities to commemorate the 60th Anniversary Celebration of the Nigerian Air Force (NAF). This is contained in a statement by AVM Edward Gabkwet, the Director, Public Relations and Information, NAF, on Tuesday in Abuja. Gabkwet listed some of the key projects located at NAF Base, Asokoro, to include a 40-bed NAF Hospital, sports complex, NAF Microfinance Bank, fire bay, and a 56-shop market plaza. He said that the CAS also inaugurated the NAF Airmen Mini Base in Karu; Officers Quarters in Garki and Karimu, a 6-floor new NAF Headquarters Annex Building at Gudu and a brand new state-of-the-art Airport Commandant’s office at the Nnamdi Azikiwe International Airport, Abuja. The CAS, he said, also conducted the groundbreaking ceremony for the proposed NAF Centre of Excellence Complex situated at Bill Clinton Drive, along the Airport Road. According to Gabkwet, the Centre will house …

NAF@60: CAS unveils multiple welfare projects in Abuja Read More

FCT witnessing improved security under Tinubu– DSS

ABUJA- The Department of Security Services, Federal Capital Territory Administration (FCTA), says the territory has recorded improved security within one year of President Bola Tinubu-led administration. The Director of the department, Adamu Gwary, stated this in an interview with the News Agency of Nigeria (NAN) in Abuja on Tuesday. Gwary told NAN while assessing the performance of Tinubu-led administration on security in the FCT, that the impact was impressive, considering the reduced incidents of security breaches. According to him, the security situation has significantly improved since Mr Nyesom Wike assumed office as the FCT Minister in August 2023. “We receive not only a situational report from security agencies, but from members of the public. “In the past, it used to be a daily affair where you will hear there are these issues, there are those issues, here and there, within the city, the environs, and the suburbs of the FCT. “But today, sometimes a whole week will pass without any report. “We have an interface with traditional rulers, who give us intelligence reports, which we process and forward to responsible …

FCT witnessing improved security under Tinubu– DSS Read More

Proposed 800% Salary Increase For Judges Without Reviewing Workers’ Pay Counterproductive – Odinkalu

ABUJA – Human rights activist, Prof Chidi Odinkalu, says focusing only on the review of the salaries of judges will be counterproductive. Odinkalu, who was a guest on Channels Television’s Politics Today on Monday, said that the output of judges is dependent on the welfare of other staff in the judiciary and therefore urged that the salary be reviewed across board. “How many times have members of the judiciary staff union gone on strike in the last three years? In some states, courts have been more closed than opened. “So, when you go to court, there is a registry and the registry has the personnel who run the records, who help with filing. The judges are not going to do the filing, they are not going to do service, that is the business of the bailiffs, they are not going to do the documentation. “All of those things precede the performative parts of the judicial function. My fear is that judges are so fixated on themselves, they forget that their output is contingent actually on the wellbeing of those personnel,” …

Proposed 800% Salary Increase For Judges Without Reviewing Workers’ Pay Counterproductive – Odinkalu Read More