CBN: Our Monetary Policies Best for Salvaging Economy at This Time Paul Obi in Abuja
The Central Bank of Nigeria (CBN) yesterday told critics of its monetary policies that its measures remained the best and most sustainable as they were designed to lift the economy out of the woods.
Kaduna State Governor, Ahmed El-Rufai, a prominent member of the ruling All Progressives Congress, had last week taken a swipe at the CBN, faulting its decision to hike the Monetary Policy Rate (MPR), the benchmark interest rate, to 14 per cent
from 12 per cent, which he pointed out, was causing massive job losses. El-Rufai had warned that “unless the Central Bank and the banking system make a conscious decision to bring the interest rate down, one day we will legislate it,” dismissing
CBN’s perennial reasons for high interest rate, and used expletive to express his disgust. But speaking at Redeemed Christian Church of God (RCCG), The Everlasting Arms Parish, Garki, Teens’ Career Conference, the Governor of CBN, Godwin Emefiele, said
the bank’s policies remained the best therapy and antidote to Nigeria’s sinking economy. Represented by CBN Deputy Governor, Economic Policy, Dr Sarah Alade, the CBN governor said, “At this moment, what we are doing is what is best for the economy.”
“The concern even in this hall has been the slide in the naira. And I have told you, I did answer the question by saying that we also need to ensure that we diversify the economy, so that we can earn more dollar, we can have more Continued on page 8
Nigeria Beats Denmark 2-0, Qualifies for Olympics Semi-finals ...Page 8 Sunday 14 August, 2016 Vol 21. No 7781
N400
www.thisdaylive.com TR
UT H
& RE A S O
N
How I Married My Nigerian Gay Husband, by New York Photographer Outrage trails online display of wedding photos
Nseobong Okon-Ekong
Like wild fire in harmattan, the news of their marriage, which was intended not to be publicised, spread
on social media, drawing scathing views from online commentators. Eric Shoen, the New York basedphotographer, fund raiser and blogger, has now come
out with details of marriage to his Nigerian gay partner, David Umukoro Ukre, from Delta State. Eric and David got married in a small wedding at TILT
nightclub in Rochester, New York on July 30. Eric felt particularly dejected because their vigilance to keep the wedding a secret failed. “We
tried very carefully to make sure this wouldn’t happen. Guests were instructed not to take photos during the ceremony. We were very particular about who was
invited. It was a sad added bonus that most of the guests from Nigeria cancelled just 24 hours before the ceremony. I felt lost. I still get a terrible
Speaker Dogara: No Money was Misappropriated in Budget Process
Continued on page 11
Damilola Oyedele in Abuja Speaker of the House of Representatives, Hon. Yakubu Dogara, yesterday denied the allegations of fraud and abuse of office levelled against him by the erstwhile chairman of the House Committee on Appropriation, Hon. Jibrin Abdulmumini. It was his first direct response to the accusation that he supervised the padding of the 2016 budget with fraudulent projects on purpose to corruptly enrich himself and other accomplices. In a brief statement yesterday countering the claims by Abdulmumin, his former close ally, Dogara said no money was embezzled during the preparation of this year’s budget and he did not engage in any underhand dealings. Dogara and Abdulmumin have been engaged in a confrontation since the latter’s removal as chairman of the appropriation
A
JOY OF VICTORY
Aminu Usman celebrates with his teammates after scoring the second goal for Nigeria against Denmark in the quarter finals of the Continued on page 8 Men’s Olympic football competition in Salvador, Brazil ...yesterday
WEEKLY PULL-OUT
14.08.2016
PRINCESS CHINEKE
WHY SHE KEEPS COMING BACK TO NOLLYWOOD
PDP: North Abandons Sheriff, Set to Pick Nominees for P’Harcourt Convention ...Page 8