Monday 12th December 2016

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CBN, Banks to Establish Fresh N30bn Special Fund To finance Agriculture, SME NDIC considers private sector driven alternative to AMCON

Obinna Chima The Bankers' Committee has resolved that the Central Bank of Nigeria (CBN) as well as deposit money banks

would jointly establish an Agriculture/SME Fund (AGSME Fund) from the contributions of a portion of their profit after tax (PAT) to finance the two critical sectors

of the economy. According to the CBN Governor Godwin Emefiele, the modality for the fund, which will operate as an Equity Fund, will be worked

on by the Bankers' Committee and be communicated to the public in due course. The initiative, expected to take off from January 1, 2017, coincides with moves by the

Nigeria Deposit Insurance Corporation (NDIC) working closely with the CBN to set up another resolution mechanism for cleaning up banks’ non-performing loans

(NPLs) when the terminal life of the Asset Management Corporation of Nigeria (AMCON) expires by 2023. Continued on page 8

Emmanuel Declares Two-day Mourning for Scores of Dead Worshippers in Church Building Collapse… Page 10 Monday 12 December, 2016 Vol 21. No 7907. Price: N250

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Rerun Election: APC Wins Rivers South-East Senatorial District Wike kicks, insists PDP has won Rivers East and Rivers West Senatorial Districts 2 Policemen Killed, Army Deny Involvement in Malpractices IGP sad, orders investigation into killings Ernest Chinwo in Port Harcourt, Victor Ogunje in Ado Ekiti, Dele Ogbodo and Oghenevwede Ohwovoriole in Abuja

The Independent National Electoral Commission (INEC) has declared the All Progressives Congress (APC) candidate, Senator Magnus

Abe, winner of last Saturday's rerun elections in Rivers South East Senatorial District of Rivers State. The declaration came as the

Nigerian military confirmed the death of two policemen during the election but denied involvement in any electoral malpractice as alleged

by the Peoples Democratic Party (PDP) and the state government. Also confirming the death of the two policemen, the

Inspector-General of Police (IG), Mr. Ibrahim Idris, expressed his sadness at the Continued on page 10

2017 Budget Will Pull Nigeria Out of Recession, Says Buhari Urges Nigerians not to lose faith in his government Tobi Soniyi in Abuja President Muhammadu Buhari has appealed to Nigerians not to lose faith in the ability of his administration to make a difference in their lives, saying the 2017 Budget contains measures that will pull Nigeria out the current economic recession. The president in his 2016 Eid-el-Maulud message to Muslim faithful, urged Nigerians not to despair as he was doing his best

to redress the situation, particularly with a number of policies he had embedded in the 2017 budget proposals, which he would lay before the National Assembly on Wednesday. He said: "As we use the memorable occasion of this celebration to reflect on our current challenges, I urge you not to lose faith in the ability of this administration to make a difference in the lives of our people. Continued on page 8

Twin Bomb Blasts Kill 3, Injure 17 in Maiduguri…Page8

CARING FOR THE DISTRESSED

Borno State Governor, Alhaji Kashim Shettima, consoles a female victim at the Maiduguri Specialist Hospital, after attacks by two Boko Haram female suicide bombers… Sunday


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