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Expert lauds CBN for raising MPR to 17.5 %

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Expert lauds CBN for raising MPR to 17.5 %

CBN Building

CBN Building

 

A financial expert, Dr Samuel Nzekwe, has commended the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) for raising the Monetary Policy Rate from 16.5 per cent to 17.5 per cent.

Nzekwe, also a former President, Association of National Accountants of Nigeria (ANAN), gave the commendation in an interview with the News Agency of Nigeria (NAN), while reacting to the outcome of the MPC Meeting, on Tuesday in Ota, Ogun.

NAN reports that the CBN Governor, Mr Godwin Emefiele, on Tuesday in Abuja, after the two days apex bank’s MPC Meeting, announced the increased of MPR from 16.5 per cent to 17.5 per cent.

The others key instruments were retained at Cash Reserves Ratio (CRR) at 32.5 per cent and Liquidity Ratio at 30 per cent, respectively.

This is the fifth time the CBN would increase the interest rate in spite of the advice from manufacturers and some key stakeholders.

The MPR is the baseline interest rate in an economy; every other interest rate used within that economy is built on it.

Nzekwe noted that the MPC’s decision to increase the MPR was a welcome development in order to tightening funds circulation in the country.

The former ANAN president said that this development would make the cost of funds to be higher from banking system and discourage people from borrowing.

“The apex bank is working toward mopping up a lot of money and curb inflationary trend in the country.

“The weekly cash withdrawal limit placed on people by CBN and increasing the MPR were all stems by the regulation to ensure that the nation’s inflation rate is drastically reduced,” he said.

Nzekwe explained that Nigeria was having a higher inflation rate due to the crisis in Ukraine, Russia, Europe and all over America.

He noted that the country imported its raw materials and others goods from these countries, like Europe and America, adding that hyper inflation in these countries was likely to impact on Nigeria.

Nzekwe said that the decision of the MPC would help to curb the tendency of this higher inflation on the country

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Defence/Security

Banditry: Rep member condemns attack on Kwara community

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Stephen Olufemi Oni, Ilorin

The Member representing Ekiti/Isin/Irepodun/Oke-Ero Federal Constituency in the National Assembly, Hon. Raheem Tunji Olawuyi Ajuloopin, has strongly condemned the recent attack in Idofin Odo-Ashe, Oke-Ero Local Government Area of Kwara State, describing it as a cowardly act that seeks to disrupt the peace and stability of the community.

Hon. Ajuloopin, in a statement personally signed by him, expressed deep concern over the unfortunate incident and sympathised with the victims, their families, and the entire community affected by the dastardly attack, emphasising that acts of violence have no place in a civilised society, and therefore urged security agencies to intensify efforts in bringing the perpetrators to justice.

While commending the swift response of both the federal and Kwara State governments, as well as the security agencies and local vigilante groups, the lawmaker reiterated that the fight against insecurity requires collective responsibility, calling on traditional rulers, community leaders, and residents to remain vigilant and cooperate fully with security operatives by providing timely and credible information.

“Security is everyone’s business. We cannot afford to leave the safety of our communities solely to government agencies. Every citizen must be actively involved in safeguarding our environment and ensuring that peace prevails,” Hon. Ajuloopin admonished.

He reaffirmed his commitment to continued collaboration with relevant authorities to ensure that lasting peace in all parts of Kwara South and beyond.

Hon. Ajuloopin also appealed for calm, assuring that both the federal and state governments are working tirelessly to address the root causes of insecurity and prevent future occurrences.

End

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Governor Namadi Attends High profile Ministerial Meeting On Self-Sufficiency In Cairo

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From Hassan Taiye

Governor Umar Namadi is currently in Cairo,Arab Republic of Egypt, attending the Third High-Level Ministerial Meeting on Rice Self-Sufficiency, holding from October 7th to 9th, 2025, in Cairo and Sakha.

The meeting, themed “Towards Rice-Based Agri-Food Systems Transformation and Delivering on Rice Self-Sufficiency through Peer-to-Peer Learning: The Case of the Arab Republic of Egypt,” is jointly organized by the Egyptian Ministry of Agriculture and Land Reclamation, AfricaRice, the Arab Organization for Agricultural Development (AOAD), and other key continental partners.

This high-level gathering brings together African Ministers of Agriculture, State Governors, and agricultural leaders to share practical experiences on achieving rice self-sufficiency and agricultural transformation.

The event will showcase Egypt’s remarkable progress in achieving rice self-sufficiency despite its limited water and land resources, offering valuable lessons adaptable to other African contexts.
Namadi is participating alongside top policymakers, agricultural experts, and private sector players from across Africa to discuss innovations, policy reforms, and strategic investments aimed at strengthening food security and transforming the agricultural sector on the continent.

Over the three-day programme, delegates will engage in high-level ministerial sessions, technical discussions, and a field visit to Egypt’s renowned Rice Research and Training Centre (RRTC) in Sakha.

During the visit, participants will interact directly with Egyptian scientists and farmers to learn about the country’s advancements in high-yield rice varieties, efficient irrigation systems, and modern post-harvest technologies.

Jigawa State’s participation in this important forum underscores the state’s commitment to agricultural transformation, food self-sufficiency, and consolidating Jigawa’s position as one of Nigeria’s leading hubs for rice production and agribusiness development.

The meeting is expected to conclude with a Ministerial Declaration setting a continental roadmap for achieving rice self-sufficiency through collaborative research, policy coordination, and targeted investment across the rice value chain.

Governor Namadi is accompanied by senior officials from the Jigawa State Ministry of Agriculture and related agencies.

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There’s Political Genocide Against Christians in Northern Nigeria – Aisha Yesufu

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By: Fabian Apechihin

Sociopolitical activist Aisha Yesufu has accused Nigerian political leaders of perpetuating what she described as a “political genocide” against Christians in Northern Nigeria.

Yesufu made the remark on Tuesday in response to American comedian and TV host Bill Maher, who recently alleged that Nigerian Christians are facing coordinated attacks.

Maher, speaking on his HBO show, said, “I’m not a Christian, but they are systematically killing Christians in Nigeria. They’ve killed over 100,000 since 2009 and burned 18,000 churches. These are the Islamists, Boko Haram.”

Reacting via her X handle, Yesufu criticized what she called hypocrisy among Nigerian politicians who express concern over Christian persecution yet supported the Muslim-Muslim presidential ticket during the 2023 elections.

“You are shouting that Northern Christians are being persecuted, but you championed a Muslim-Muslim ticket! Their Christianity was not Christian enough for you during the 2023 election,” she wrote.

She concluded by calling for greater attention to what she termed the “political genocide” against Northern Christians, urging consistency in both words and actions when addressing religious and political marginalization in Nigeria.

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