FRIDAY 17TH AUGUST 2018

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CBN Unfolds Single-digit Loan Scheme for Real Sector Bank CEOs upbeat over economic stabilisation policy Nigeria earned N77.74bn from external reserves in 2017

Obinna Chima and Nume Ekeghe The Central Bank of Nigeria (CBN) and the Bankers’

Committee yesterday agreed to offer single-digit interest rate loans to operators in the manufacturing and agricultural sectors of the

economy from commercial banks’ cash reserve requirement (CRR) with the apex bank. Data obtained from the

CBN website put the total banking industry reserves with the central bank as at June 2018 at N4.115 trillion. The central bank explained

that instead of out rightly lowering interest rate, it opted for a system whereby the single-digit interest funds would be implemented to

long-term credit at nine per cent and a minimum tenor of seven years. Continued on page 8

Ethiopia Airlines to Offer Shares to African Countries …

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Friday 17 August, 2018 Vol 23. No 8521. Price: N250

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TODAY'S WEATHER

ABUJA 25°C-33°C

MAIDUGURI 31°C-31°C

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& RE A S O

ENUGU 25°C-28°C

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KANO 27°C-33°C

LAGOS 24C-27°C

PORT HARCOURT 20°C-30°C

2019: I Won’t Interfere With INEC, Buhari Assures Nigerians Pledges general election would be free, fair, credible N’Assembly joint committee fails to harmonise positions on budget Invites INEC boss again Deji Elumoye, Onyebuchi Ezigbo in Abuja President Muhammadu Buhari has assured Nigerians that he would not interfere with the Independent National Electoral Commission (INEC) before, during and after the 2019

general elections. The president also gave an undertaking that he would ensure that next year's polls are free, fair and credible. The Special Adviser to the President on Political Continued on page 8

NEC Constitutes Committee to Decentralise Police

FIRS accuses states of not remitting N41bn tax Omololu Ogunmade in Abuja The National Economic Council (NEC) yesterday in Abuja resolved to constitute a committee to be headed by

the Inspector-General of Police (IG), Mr. Ibrahim Idris, to make fresh recommendations on how the Nigeria Police could Continued on page 10

FINE-TUNING SECURITY MATTERS… UN: FG Paid Large Ransom L-R: Minister of Budget and National Planning, Senator Udo Udoma; Secretary to Government of the Federation, Mr. Boss National Security Adviser, Maj-Gen Babagana Monguno (rtd.); and Acting President Yemi Osinbajo, during the National for Release of Dapchi Girls… Page 10 Mustapha; Executive Council (NEC) meeting in Abuja…yesterday GODWIN OMOIGUI


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