MPC Retains Policy Rate at 14% as Uncertainty Looms over Next Meeting Ndubuisi Francis in Abuja, Obinna Chima and Emma Okonji in Lagos Contrary to expectations by some market analysts that the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) would cut
its policy rate, the committee yesterday rose from its last meeting for the year and retained Monetary Policy Rate (MPR) at 14 per cent. The MPC also retained the Cash Reserve Ratio (CRR) at 22.5 per cent, the Liquidity Ratio (LR) at 30 per cent and
asymmetric corridor around the MPR at +200 and -500 basis points. But this was even as the MPC faced an uncertain fate over whether it can form a quorum at its next meeting in January next year, following the refusal by the Senate to
consider for confirmation President Muhammadu Buhari’s nominees for the CBN. Buhari last April had announced the appointment of Prof. Ummu Ahmed Jalingo, Prof. Justitia Odinakachukwu Nnabuko, Prof. Mike I. Obadan, Dr. Abdu Abubakar and Adeola
Adetunji as Non-Executive Directors of the Board of Directors of CBN. In October, the president also tapped Mrs. Aishah Ahmad as the next Deputy Governor of the CBN. Ahmad was to replace Dr. Sarah Alade who retired from the Bank earlier
this year. He had also announced the nomination of Professor Adeola Festus Adenikinju, Dr. Aliyu Rafindadi Sanusi, Dr. Robert Chikwendu Asogwa and Dr. Asheikh A. Maidugu as new members of the MPC. Continued on page 8
DSS, EFCC in Stand off over Attempt to Arrest Former DSS, NIA Bosses… Page 8 Wednesday 22 November, 2017 Vol 22. No 8252. Price: N250
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53 Killed in Militia Attack, Suicide Bomb Blast in Adamawa Buhari, Atiku, Dogara, AI condemn bombing Omololu Ogunmade, James Emejo inAbujaandDaji Sani inYola
Fifty-three persons have been reportedly killed in Adamawa
State following two separate incidents involving an attack by suspected militia farmers against a predominantly Fulani settlement in Numan
Local Government Area in the state, and a suicide bombing in a mosque in Mubi, the commercial nerve centre of the state.
Confirming the Numan killings, the State Police Command, said at least 30 women and children were killed in an attack carried out
by militia farmers on Monday. The spokesman of the command, Othman Abubakar said the attack was carried out against Fulani herdsmen in the
area by suspected farmers. According to him, “About
30 Fulani children and women Continued on page 8
Mnangagwa to Be Sworn-in President as Mugabe Resigns AU, UK, US welcome resignation Okechukwu Uwaezuoke with agency reports Shortly after the Zimbabwean parliament began an impeachment process to end Robert Mugabe’s 37-year rule in the country that he fought to liberate from colonial rule, the embattled president finally threw in the towel yesterday, paving the way for his former deputy Emmerson Mnangagwa to be sworn-in as the country’s new president. Immediately, the Speaker of the parliament Jacob Mudenda announced Mugabe’s resignation, wild celebrations broke out at the joint sitting of parliament and suspended the
impeachment process, reported Reuters. There were also wild celebrations in the streets of Harare, as cars honked their horns and people danced and cheered the exit of the 93-year-old ruler. Mugabe’s resignation, which was with immediate effect, ended his 37-year-old grip on power. Mugabe, who had clung on for a week after the military intervention last Wednesday and his expulsion from his own ruling party ZANU-PF, had in a letter he submitted to parliament said his decision to resign was voluntary. Continued on page 10
PDP Crisis Worsens as George Calls OGUN GETS BUDGET FOR ACCELERATED GROWTH… State Governor, Senator Ibikunle Amosun lays the N345.4bn budget for 2018 at the State House of Assembly, for Makarfi's Resignation… Page 56 Ogun Abeokuta, Ogun State… yesterday