CBN’s New Credit Initiative May Boost Private Sector Liquidity Apex bank moves to lend directly to real sector at single digit Obinna Chima and Ndubuisi Francis
N E W S A N A LY S I S
Following commercial banks’ growing reluctance to extend credit to the real sector, the
Central Bank of Nigeria (CBN) may intervene directly to provide the much needed
funds to boost private sector liquidity. This is one of the fresh initiatives of the apex bank that was sanctioned by Tuesday’s Monetary Policy
Committee, a move to tackle the dwindling flow of banking sector credit to this critical segment of the economy. Figures from the Central Bank of Nigeria (CBN)
showed that credit to the private sector fell in May 2018 to N22.207 trillion year-onyear as against the N22.254 trillion it was in April. The CBN report had shown that
industry gross credit recorded a 3.63 per cent decrease in April 2018, the lowest since January 2017. Continued on page 6
After Initial Slowdown, Buhari’s Administration Set to Fly, Says Fashola…
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More Troubles for APC as Ortom Finally Defects to PDP Buhari meets 40 ruling party’s senators, Saraki absent Ararume, Madumere, Izunaso prepare to leave in Imo PDP Hails Benue gov, urges others to join Iyobosa Uwugiaren, Omololu Ogunmade, Onyebuchi Ezigbo in Abuja and George Okoh in Makurdi The gale of defections continued to sweep through the yard of the ruling All Progressives Congress (APC) yesterday as one of its governors, Dr. Samuel
See tables on the state of the National Assembly on page 51 Ortom of Benue State, left its rank to rejoin his former party, the Peoples Democratic Party (PDP). The Benue situation is likely Continued on page 8
Saraki: I Have Replied to Police’s Enquiries We will apply the law, insist police Deji Elumoye in Abuja The Senate President, Dr. Bukola Saraki, yesterday explained why he did not have to go to the Guzape Police Station in Abuja to respond to police’s enquiries over alleged links to the April robbery
incident in Offa, Kwara State. Saraki said he had responded formally in writing to all the questions and issues raised by the police invitation letter same Tuesday hence there was no need for him Continued on page 6
NAICOM Raises Capital Base for Insurance Sector… Page 10
FEEDBACK TO THE PEOPLE…
L-R: Lagos State Deputy Governor, Dr. Oluranti Adebule; Governor Akinwunmi Ambode, and state Chairman, All Progressives Congress (APC), Alhaji Tunde Balogun, during the 3rd Quarter 2018 Town Hall meeting at the Community Primary School, Iberekodo, Ibeju-Lekki, Lagos… yesterday
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