MPC Leaves Rate Unchanged, Reduction Will Worsen Inflation, Says Emefiele Mulls new measures on FX flow to BDCs James Emejo in Abuja and Obinna Chima in Lagos The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele yesterday
defended one of the bank’s core functions of ensuring price stability and counselled against calls to reduce the Monetary Policy Rate (MPR) in order to lower the cost of
Obama praises Buhari for Nigeria's adoption of flexible exchange rate
funds needed to stimulate economic growth and aid recovery from the current economic recession. He argued that easing the MPR at this point would
only worsen inflationary conditions, which the central bank described as still benign in its outlook. The Minister of Finance, Mrs. Kemi Adeosun on
Monday had called for a reduction in the CBN rate to aid growth and lower the cost of government borrowing from the financial sector. However, at the end of
the meeting of the Monetary Policy Committee (MPC), the central bank resolved to retain the current monetary policy Continued on page 6
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Dangote Named Co-Chair of US-Africa Business Centre In a show of commitment on collaboration by the business communities in the United States and across Africa, the United States Chamber of Commerce has named Aliko Dangote, Africa’s most successful
T H I S D AY S P E C I A L R E L E A S E businessman, co-chair of its US-Africa Business Centre. Dangote will serve alongside Jay Ireland, President/CEO of GE Africa, as a leader for the
US-Africa Business Center Board of Directors. “We are honoured to have Aliko Dangote on board to help guide the business communities’
efforts in pursuit of a new era of unprecedented growth between the United States and Africa,” said Scott Eisner, President of the US-Africa Business Centre. “The future of job
creation lies in the hearts and minds of business leaders and their enterprises across Africa. We are fortunate to have an opportunity to tap into the expertise of Dangote on our board to ensure
that US companies have strong partners across Africa and can provide access to African companies interested in the US market.” Continued on page 8
Recession: Senate Tables 14-Point Roadmap to Turn Around Economy Backs advisory on partial sale of oil assets, airport concessions Saraki: Time for blame game is over RMAFC disagrees with proposal on sale of NLNG shares Omololu Ogunmade in Abuja In a bid to find quick solutions to the economic recession in the country, the Senate yesterday commenced debate on the issue, with Senate President Bukola Saraki presenting a 14-point plan to the federal government on how to make the crisis the shortest ever in history. The Senate’s roadmap out of the recession was
contained in Saraki's speech to welcome his colleagues back from their annual vacation. Going by the importance attached to finding urgent solutions to the recession, the Senate plenary commenced at 10.10 a.m. after the presiding and principal officers of the Senate filed into the chamber. Continued on page 6
MEETS OBAMA AT THE ANNUAL UN GATHERING Jubilation in Kogi as Supreme Court BUHARI President Muhammadu Buhari (left), being welcome by President Barack Obama of the United States of America during bilateral meeting between Nigeria and the U.S. on the sidelines of the 71st session of the United Nations General Affirms Bello’s Election… Page 10 the Assembly, in New York… yesterday godwin omoigui