Economic Crisis: IMF Suggests Policy Adjustment to Boost Trade in Nigeria, Others We have credible plan to exit recession, insists Adeosun
Chika Amanze-Nwachuku and Obinna Chima in Washington D.C Worried by economic crisis across many countries of the world, the International Monetary and Financial Committee (IMFC) of the Interna-
tional Monetary Fund (IMF) yesterday advised Nigeria and other countries hard-hit by persistent decline in their terms of trade to proceed with policy adjustment in order to correct the imbalance. The advice came just as the Finance Minister, Mrs. Kemi
Adeosun, reassured Nigerians and the international community that Nigeria had a credible recovery plan to lift the economy out of recession. Reading a communiqué at the end of the 34th meeting of the IMFC at the on-going IMF-World Bank meetings
in Washington D.C, the chair of the committee/Governor of the Bank of Mexico, Mr. Agustín Carstens, also noted that excessive volatility and disorderly movements in exchange rates could have adverse implications for economic and financial stability
Besides, Carstens noted that, the IMFC reinforced the commitment of member states to strong, sustainable, inclusive, job-rich, and more balanced growth. According to him, the IMFC would use all policy tools—structural reforms, fis-
Ibori to Regain Freedom from UK Prison in December ...Page 9
cal and monetary policies— both individually and collectively, to tackle the wave of soft economic growth across the globe. "We are strengthening policies to bolster confidence and Continued on page 6
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Buhari: Decisive Military Action Still an Option in N’Delta Says he was handed a badly managed anti-insurgency fight in North-east
John Shiklam in Kaduna with agency report President Muhammadu Buhari has warned that decisive military action was still an op-
tion to deal with militancy in Niger Delta if militants continued with sabotage. The president gave the warning on Saturday at the Passing out Parade of 133 Cadets of 63rd Regular Course
of the Nigerian Defence Academy (NDA). Buhari, who expressed happiness that the Boko Haram insurgency in the North East was being defeated, however, noted that militan-
cy and other forms of emerging threats, including kidnapping and cattle rustling, were negatively impacting the nation’s economy. President Buhari stressed that, the activities of the mili-
tants has badly affected the Nigerian economy and must be stopped. He said the clean-up of the Ogoniland was one of the ways to deal with root causes of militancy in the region.
“However, for avoidance of doubt, let me state that other options are still open, including decisive military action. Continued on page 6
Sidestepping the Judicial Council, DSS Arrests 4 Judges, Recovers N362m NBA declares 'state of emergency' Some insinuating Onnoghen may be target of inquisition DSS: No, we are not investigating CJN pick NJC meets tomorrow
Tobi Soniyi, Senator Iroegbu, Paul Obi in Abuja, Victor Olakiitan in Ado Ekiti, Segun Awofadeji in Gombe and Shola Oyeyipo in Lagos
The Department of State Services yesterday arrested some judges after an unprecedented sting operation launched almost simultaneously in different states and Abuja that targeted judicial officers accused of involvement in corrupt practices. But it was an operation that was widely described as a usurpation of the job of the National Judicial Council, which is statutorily responsible for the appointment, promotion, and discipline of judges in the country. The DSS said it had credible intelligence on the illicit activities of the judges, which it investigated before cracking down on them. Those arrested included two Supreme Court justices, Sylvester Ngwuta and Inyang Okoro, and two judges of the Federal High Court, Adeniyi Ademola (Abuja Division) and Muazu Pindiga (Gombe Division). The house of another judge Continued on page 6
CONGRATULATIONS!
President Muhammadu Buhari presenting Sword of Honour to the Best All-round Cadet Officer of 63 Regular Course, AD Mohammed, during the passing out parade and commissioning ceremony of the 63 Regular Course of the Nigerian Defence Academy in Kaduna … yesterday