SUNDAY 23TH JANUARY 2022

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MPC: Analysts Caution against Interest Rate Increase Festus Akanbi As the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) begins its first meeting for the year 2022, in Abuja tomorrow, economic analysts have advised against hike

in the Monetary Policy Rate (MPR) despite the mounting pressure on the apex bank to announce a higher rate. MPR was retained at 11.5 per cent at its September 2021 meeting. MPR is the interest rate at which CBN lends to the

commercial banks. The MPR is the benchmark against which other lending rates in the economy are pegged and is usually used as an instrument to moderate inflation in the economy. In their forecast of the outcome of the MPC meeting,

analysts from Financial Derivatives Company Limited (FDC), Cordros Capital Limited and Cowry Asset Management Company Limited, in separate reports, released last week, believed that the current pressure on the CBN is not enough to cause an upset

in the nation’s interest rate regime. According to them, issues putting pressure on the MPC to increase benchmark rate include an upward inflationary pressure amid the anticipation of subsidy removal, increasing electricity tariff, foreign

exchange volatility and the intending rate hike by Federal Reserve in 2022. The pressure was fueled by the latest headline inflation figure, which broke away from the eight-month declining trend Continued on page 6

Herdsmen from Libya, Mali, Others Still Killing Benue People, Ortom Cries out... Page 10 Sunday 23 January, 2022 Vol 27. No 9784

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2023: INEC Warns Political Parties, Aspirants against Early Campaigns Says campaigns start 90 days to elections Vows to sanction violators of extant rules Chuks Okocha in Abuja Worried by the proliferation of billboards and campaign posters of some political parties and aspirants across the country, the

Independent National Electoral Commission (INEC) has warned the parties and their various aspirants to wait for the official commencement of campaigns as provided by the law.

The electoral body noted that the law provides that campaigns in public shall commence 90 days before the polling day and end 24 hours before the election. The commission has also

warned of consequences awaiting the violators of campaign guidelines. INEC’s National Commissioner in charge of Information and Voter Education,

Mr. Festus Okoye, told THISDAY yesterday that it was not yet time for campaigns and warned political parties, aspirants and their supporters to remain within the confines and ambit of the law

and the 1999 Constitution, as well as the rules and regulations of the commission in carrying out their activities. Continued on page 5

Nothing will Bring Me Back to Partisan Politics, Obasanjo Tells PDP Leaders Buhari’s administration clueless, piling eternal debts, says Ayu James Sowole in Abeokuta Former President Olusegun Obasanjo yesterday restated his vow not to return to partisan politics. Obasanjo, 84, made this known when a delegation of the leaders of the Peoples Democratic Party (PDP) led by the National Chairman of the party, Dr. Iyorchia Ayu, visited him at his residence in Abeokuta, Ogun State. This is coming as Ayu has described the President Muhammadu Buhari’s administration as a clueless government that is piling eternal debts for future generations. The PDP delegation during the meeting, held behind closed doors, dwelt extensively on the party’s search for a suitable presidential candidate, who will wrestle power from the APC. The National Secretary of the party, Senator Sam Anyanwu; the Deputy National Chairman, Continued on page 8

STRATEGIC CONSULTATION… L-R: Former Governor of Jigawa State, Alhaji Sule Lamido; former President, Chief Olusegun Obasanjo; and the National Chairman of the Peoples Democratic Party (PDP), Senator Iyorchia Ayu, when Ayu led the former governors and members of National Working Committee of PDP to visit Obasanjo in Abeokuta…yesterday

I Have No Intention to Vie for APC Chairmanship, Buni Clarifies... Page 5


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