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CBN Governor Emefiele allays fears over MPC meeting, says economy is strong

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BN governor Godwin Emefiele
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The Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has allayed the fears of Nigerians and the international community over the inability to hold the meeting of the Monetary Policy Committee (MPC) for January.

A statement signed by Emefiele in Abuja on Monday, said that the meeting, which was earlier scheduled for the day and Tuesday, had been cancelled due to the non-confirmation of the MPCnominees by the Senate.
He explained that the MPC meeting for January would not be hold due to the Bank’s inability to form a quorum as stipulated in the CBN Act 2007.
In spite of the statutory meeting not holding in January, the CBN governor said that key economic indicators in the country continued  to move in the right direction.
Consequently, he said the CBN would continue to maintain the key monetary variables as decided in the last MPC meeting of November 2017.
The Monetary Policy Rate (MPR) was retained at 14 per cent; CRR at 22.5 per cent; Liquidity Ratio at 30 per cent and the Asymmetric Corridor at +200 and -500 basis points around the MPR.
Emefiele cited the recovery in oil prices and boost in domestic production and Nigeria’s exit from recession in 2017 as positive indicators.
Other indicators are the decline in inflation rate to 15.37 per cent and accretion to the country’s Foreign Exchange Reserves, which now stands at 40.78 billion dollars,
He said that this underscored the fact that the Nigerian economy remained strong.
Furthermore, he noted that strong investor confidence in Nigeria had attracted inflows of about 13 billion dollars through the Investors’ and Exporters’ (I&E) window, opened by the CBN in 2017.
According to him, these inflows have boosted foreign exchange supply and helped to stabilise the exchange rate.
We have also seen Market Capitalisation of our Stock Exchange improve by 22.3 per cent from N13.21 trillion on Nov. 30, 2017 to N16.15 trillion as at Jan. 19, 2018.
“Also,  the All-Share Index (ASI) rose by 18.8 per cent from 37,944.60 to 45,092.83 over the same period,” he said.
Emefiele assured that a revised schedule of the Meetings for the MPC would be communicated as soon as the Bank met the statutory requirements of membership and quorum for the MPC.
He also assured that the Management of the CBN would continue to sustain the gains recorded in the economy as well as its vigilance and proactivity, to ensure overall macro-economic stability throughout 2018.
President Muhammadu Buhari, in October 2017, nominated Mrs Aisha Ahmad as Deputy Governor of the Central Bank of Nigeria.
 He also sought the confirmation of Mr Adeola  Adenikinju, Mr Aliyu  Sanusi, Mr Robert  Asogwa and Mrs Asheikh Maidugu as members of the CBN’s Monetary Policy Committee.
However, the Senate is yet to confirm the nominees.
 The Second Schedule of the CBN Act (Section 12(5) and 54, stipulates that the MPC shall meet at least four times in a year and that the quorum shall be six members; two of whom shall be the Governor and a Deputy Governor or two Deputy Governors.

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Ike Ani is a Freelance writer whose quest constantly is to relate happenings around the world to human daily living. He's also a song writer and singer, Acoustic Guitarist, and Teacher.

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L. A Prisoners Infect Themselves With Coronavirus To Get Early Release (VIDEO)

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A group of silly L.A area prison inmates were very eager to contract the dreaded coronavirus .

They attempted this because they believed that would trigger their ticket out of prison.

According to the L.A. County Sheriff Alex Villanueva who made the startling revelation Monday, said about twenty-four (24) inmates at the Pitchess Detention Center in Castaic attempted (and somewhat succeeded, apparently) to infect themselves way back in mid-April 2020.

The Sheriff revealed that their department saw an increase in spike in confirmed cases out of nowhere.

He said that when they investigated, they found a high number of inmates living in one block of the prison appeared to be deliberately trying to infect each other with COVID-19 any way they could from behind bars.

When Alex Villanueva played the surveillance footages he and his team combed through carefully , and it showed several inmates hanging out in a common area and passing around what Alex described as a hot cup of water, as well as one face mask they’d each put on all in hopes of getting sympathy from a judge to spring them from the facility and let them go home.

But it turns out, their little ploy worked but, only halfway.

Villanueva reported that 21 of the inmates (out of 50 in the block) caught the ‘Coronavirus.

“What they won’t catch is a break” said the Sheriff.

Watch the Video HERE

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COVID-19 LOCKDOWN: 12 Year Old Albino Girl Suffers Eye Problems After Hawking Veggies In Abuja (PHOTOS)

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A very sad Facebook post greeted Nigerians from Abuja showing a 12 year old Albino Girl Grace, who started developing sight problems after Hawking Veggies under the scorching sun in Abuja.

The Facebook post stated that the little girl was asked to hawk the veggies by her aunt whom she lives with.

Below are the Screenshots of the Facebook post:

This sad news has sparked an outrage by well meaning individuals who spoke against such cruelty and insensitivity of the said girl’s aunt.

what do you think of this? Drop your comments below.

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“Buhari is Made In London” – Reno Omokri Blasts Presidency On Nigerian Made Products

The Buhari administration has been known for enforcing the Nigerian people to patronize Nigerian made goods though without much strategy to make life easier while this transition to economic growth is enforced.

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Reno Omokri Nuggets

The Buhari administration has been known for enforcing the Nigerian people to patronize Nigerian made goods though without much strategy to make life easier while this transition to economic growth is enforced. Many Nigerians have tagged it a harsh move that is insensitive and inhumane but moreso, Reno Omokri has singled out signals of hypocrisy in the President of Nigeria by outlining certain traits of family moves of the President that shows that he(Buhari) as the No.1 citizen has no regards for anything made in Nigeria but yet wants other Nigerians to embrace Nigerian made goods.

Reno Omokri ‘s tweet reads:

His kids schooled in England. His wife just returned from a 3 month UK stay. His daughter gave birth to his grandchild in Spain (made in Spain), yet
@MBuhari
, who is London, wants us to patronise made in Nigeria!

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