By Ogungbayi Adeyemi S. | adeyemi@ddnewsonline.com
Editor, DDNews |
NIGERIA NEWS
Private Sector Welcomes Central Bank Rate Cut But Wants Lower Lending Rates
Organised private sector groups have welcomed Central Bank of Nigeria substantial cut in Monetary Policy Rate from high level to lower level. Manufacturers and business chambers said move is positive for investment and jobs, but insisted benefits will remain theoretical unless commercial banks pass it on through lower lending rates to real sector.
Central Bank Confirms Benchmark Rate Reduction After Policy Meeting
Central Bank of Nigeria Governor, Olayemi Cardoso, disclosed decision at end of Monetary Policy Committee meeting in Abuja on Tuesday. Committee voted to reduce benchmark interest rate to ease cost of doing business and support growth while keeping inflation under watch. This is biggest cut in recent months.
INEC Warns Funding Constraints Could Threaten Next General Elections
Success of next general elections appears to be hanging in balance with warning by Independent National Electoral Commission that funding constraints could undermine election logistics and security ahead of upcoming general elections. INEC said timely release of funds is critical for procurement, training and deployment.
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Questions Trail Nigeria Engagement Of United States Lobbying Firm
Nigeria decision to engage United States lobbying firm has raised questions about cost, purpose and effectiveness of its diplomatic strategy, particularly given that country already maintains foreign affairs ministry, diplomatic missions and career diplomats. Foreign policy analysts said lobbying can complement but not replace traditional diplomacy.
Anti-Graft Agency Declares Ex-Pension Boss Wanted
Economic and Financial Crimes Commission has issued fresh wanted notice for Abdulrasheed Maina, ex-chairman of now-defunct Pension Reform Task Team. Agency urged public with useful information to come forward as it intensifies crackdown on pension fraud and public sector corruption.
Nigeria Cultural Restitution Campaign Gains Global Recognition
Nigeria campaign to bring home looted cultural treasures has gained new global recognition. National Commission for Museums and Monuments Director-General Olugbile Holloway has been named to inaugural TIME Art list, following major restitution agreements involving Benin artefacts held in Europe. Recognition celebrated as win for heritage diplomacy.
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AFRICAN NEWS
Infrastructure Minister Orders Security Upgrade On Second Niger Bridge
Minister of Works David Umahi ordered installation of additional solar-powered streetlights and completion of closed-circuit cameras on key federal infrastructure, with surveillance system to be linked to Second Niger Bridge. Ministry said move aims to improve safety and deter vandalism.
GLOBAL NEWS
Oil Prices Fall After Trump Says US And Iran Held Positive Talks
Oil prices fell overnight after President Donald Trump said American and Iranian representatives had met for very good talks at United Nations on sidelines of General Assembly. Market reacted to hopes of easing tension in Middle East. Prices had earlier risen on supply concerns.
INTERNATIONAL NEWS
Data Protection Agency Assures Citizens Of Robust Security
National Identity Management Commission says it maintains robust, multi-layered security infrastructure to protect personal data of every registered citizen and legal resident, in line with international best practice. Assurance comes amid public concerns over data safety and recent global data breaches.
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Stock Exchange And Naira Watch As Rate Cut Boosts Market Sentiment
Stock exchange opened bullish this morning while Naira remained relatively stable as investors digest Central Bank rate cut. Analysts say lower benchmark rate could boost equities, especially banking and manufacturing stocks, and improve access to credit. Exchange rate gap between official and parallel markets narrowed slightly in early trading.
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