Why CBN slashed monetary policy rate – Official

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has explained why it slashed the monetary policy rate, popularly called lending rate, from 13.5 per cent to 12.5 per cent. The CBN governor, Godwin Emefiele, said the committee believed lowering the monetary policy rate would stimulate credit expansion to critically sectors of the economy, […]

President Buhari approves appointment of Appeal Court President

President Muhammadu Buhari has approved the appointment of Hon. Justice M.B. Dongban-Mensem, as the Acting President of the Court of Appeal (PCA) The appointment takes effect from June 3, 2020, and is for a further period of three months. This was contained a terse statement to DAILY POST by Garba Shehu, the President’s Spokesman on […]

Obasanjo, Jonathan, 13 other ex-African leaders rally support for Adesina

Former presidents Olusegun Obasanjo, Goodluck Jonathan, and some other African leaders Friday threw their support behind the President of the African Development Bank (AfDB), Dr. Adewunmi Adesina, over US-led moves for a second probe against him. The African leaders rallied support for the AfDB chief through a statement they jointly signed and made available to journalists by […]

Ex-CBN director lauds MPC over interest rate reduction

A financial expert, Dr Titus Okunrounmu, has commended the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) for reducing the interest rate by one-percentage-point from 13.5 per cent. Okunrounmu, a former Director, Budgetary Department at CBN, made the commendation in an interview with the News Agency of Nigeria (NAN) in Ota, Ogun, […]

NDDC shuts down operations, directs officials to go into self-isolation

The Niger Delta Development Commission (NDDC) hurriedly shut down its operations on Thursday. The NDDC, through an internal memo announcing the shutdown, directed all its workers to go into self-isolation for two weeks, creating an impression of a COVID-19 scare within the commission’s headquarters in Port Harcourt, Rivers State. “All activities in the Commission including ongoing matters […]

NNPC sets $10 oil production cost target by 2021

With its current unit cost across all operating terrains averaging between $9 and $22 per barrel, the Nigerian National Petroleum Corporation (NNPC) says it has set an oil production cost target ceiling of $10 per barrel by 2021. The Group Managing Director of the corporation, Mele Kyari, who announced this during a web meeting with news editors […]

Lagos supports 2,204 businesses in one year to reduce unemployment

Lagos State Commissioner for Wealth Creation and Employment, Mrs Yetunde Arobieke said the Lagos State Employment Trust Fund (LSETF) has supported 2,204 businesses to expand with the aim of reducing unemployment in the state. Speaking at the Year 2020 annual ministerial press briefing to mark the one year of Governor Babajide Sanwo-Olu in office, Arobieke: […]

Edo Gov Race: Fight To The Finish

As major political actors in Edo State are locked in accusations and counter-accusations in the hot race for the Government House Benin, the state capital, HENDRIX OLIOMOGBE gives an inkling into why there is more to the uncanny rivalry among the dramatis personae. THE die, no doubt is cast and the cast of characters in […]