THURSDAY 24TH SEPTEMBER 2020

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Organised Private Sector Commends CBN on Interest Rate Reduction Dike Onwuamaeze Members of Organised Private Sector (OPS) have described Tuesday’s reduction of the Monetary Policy Rate (MPR) from 12.5 per cent to 11.5 per cent by Monetary Policy Committee (MPC) of the

Central Bank of Nigeria (CBN) as a welcome development that is expected to boost lending to the real sector. Director-General of the Nigeria Employers’ Consultative Association (NECA), Mr. Timothy Olawale, in a statement yesterday,

described the 100 basis points slash in interest rate as a “commendable move in the right direction and an indication of the willingness and determination of CBN to keep the interest rate low in order to boost lending to the real sector.”

Olawale added: “We believe that this deliberate action by CBN, which is aimed at increasing the money supply should have a positive effect on the rate of existing loans, thereby reducing the cost of borrowing, which should translate to cheaper access

to funds for production and service sectors’ utilisation, which should help in stimulating economic growth.” He, however, noted that businesses in the country were also more disturbed due to the rising inflation (food inflation) and the growing concern in

sourcing foreign exchange for critical raw materials for production activities. “We solicit for additional injections in the agricultural intervention schemes to stimulate farmers in boosting Continued on page 8

Finally, President Sends New Petroleum Bill to N’Assembly Next Week... Page 6 Thursday 24 September, 2020 Vol 25. No 9299. Price: N250

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To Avert Mass Action, FG Meets Labour Unions Today... Page 8

Buhari Seeks More Concerted Global Efforts to Fight Terrorism Says FG committed to reconstruction of North-east Calls for uninhibited supply of COVID-19 vaccines to all nations Omololu Ogunmade in Abuja President Muhammadu Buhari has urged world leaders to redouble efforts to ensure collective security, noting that the litany of sophisticated terrorist attacks across the globe is a harsh reality of the challenges the world is facing today.

Buhari, who added that Nigeria is still facing extremism, called for the support of the United Nations counter-terrorism bodies to overcome terrorism in Nigeria. He also argued that if the UN fails to mobilise and guarantee an effective response Continued on page 9

APC Leadership Mounts Pressure on Ize-Iyamu to Accept Defeat Oshiomhole: Life goes on Adedayo Akinwale in Abuja and Adibe Emenyonu in Benin City The leadership of the All Progressives Congress (APC) is mounting pressure on its candidate in last Saturday’s governorship election in Edo State, Pastor Osagie IzeIyamu, to accept his defeat by Governor Godwin Obaseki,

who contested on the platform of the Peoples Democratic Party (PDP), THISDAY learnt last night. Ize-Iyamu was met yesterday in Abuja by APC Chairman of the Caretaker/ Extra-Ordinary National Convention Planning Committee, Governor Mai Continued on page 8

FOR THEIR LORDSHIPS’ COMFORT… Lagos State Chief Judge, Justice Kazeem Alogba (left), and Governor Babajide Sanwo-Olu, during the hand-over of sports utility vehicles to judges of the state high courts in Lagos…yesterday

Buhari, Bello Mourn as Tanker Accident Claims 23 in Lokoja... Page 5


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