CBN Mentain Interest Rate At 12.5%

The Monetary Policy Committee of the Central Bank of Nigeria has retained the monetary policy rate at 12.5 per cent.

Governor of the Central Bank, Mr Godwin Emefiele announced this at the end of the MPC’s meeting on Monday.

Emefiele explained that other parameters were held constant, leaving the CRR at 27.5% and the liquidity ratio at 30%.

He added that the move to tighten will contradict the initiative of expansion of affordable credit to the real sector while increasing MPR at the stage will be counter-intuitive and will result in upward pressure on market rates and cost of production and a further cut will not be realistic

The CBN Governor stated that the earlier loosening to 12.5% in May is yielding positive impact as credit growth increased significantly in the economy and more time needs to be given for the impact to be felt further.

According to him, the nation’s Gross Domestic Product (GDP) grew in the first quarter of 2020.

“Available data from the National Bureau of Statistics showed that real Growth Domestic Product (GDP) grew marginally by 1.87 per cent in the first quarter of 2020 compared with the 2.25 per cent and 2.10 per cent in the proceeding and corresponding quarters of 2019,” he said.

Although the CBN Governor noted that there was a decline in output growth, he, however, attributed the decline to the COVID-19 pandemic.

“The performance was largely driven by 5.06 per cent growth in the oil sector and 1.55 growths in the non-oil sector. The decline in output growth in the first quarter was largely attributed to the decline in the oil prices and the shock from the COVID-19 pandemic.

“The Committee observed the gradual but persistent decline in the manufacturing and non-Manufacturing Purchasing Indices below the benchmarks. 10 members of the committee were in attendance,” he said.

Eight members of the committee voted in favour of holding the MPR, while two members wanted it reduced.

In addition to the MPR, the Cash Reserve Ratio (CRR) was retained at 27.5 per cent, liquidity ratio at 30 per cent, while the Asymmetric Corridor was retained at +200/-500 basis points. 

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Air Force Unveils Identity Of Classmate Who Overthrow Tolulope Arotile

The Nigerian Air Force (NAF) has unveiled the identity of the secondary school classmate who knocked down Tolulope Arotile, Nigeria’s first female combat helicopter pilot.

Ibikunle Daramola, air force spokesman gave the name of the man as Nehemiah Adejoh and also disclosed that he and two other civilians were at the Nigerian Air Force base in Kaduna to visit the wife of a squadron leader. 

He further revealed that Tolulope Arotile was awaiting deployment for her next assignment when the sad incident occurred. 

The Late Flying Officer Tolulope Arotile, a Squadron Pilot at the 405 Helicopter Combat Training Group (405 HCTG) Enugu, attached to the Air Component of Operation GAMA AIKI in Minna, having recently completed her Promotion Examinations, was in Kaduna awaiting deployment for her next assignment. During this period, she stayed with her sister, Mrs Damilola Adegboye, at Sabo Area in Kaduna, visiting the NAF Base whenever necessary.

“On 14 July 2020 at about 10.55am, Late Flying Officer Arotile received a phone call from her colleague, Flying Officer Perry Karimo, a fellow helicopter pilot from the 405 HCTG, who wanted to discuss arrangements for their return to Enugu, requesting that she comes to the Base so that they could work out the modalities. Subsequently, at about 10.58am, the Late Arotile placed a call through to Squadron Leader Diepiriye Batubo, the Group Operations Officer (GOO) of 405 HCTG, who was in Minna at the time, to clarify issues regarding her deployment. It must be highlighted that the call FROM Flying Officer Karimo as well as the one TO the Squadron Leader Batubo both took place before 11.00am, over 5 hours before the incident which led to her death.

“Flying Officer Arotile was later conveyed from Sabo to the NAF Base Kaduna by her sister, Mrs Adegboye, where the Deceased dropped her phone for charging at a house in the Instructor Pilots’ Quarters belonging to Squadron Leader Alfa Ekele. Her elder sister later dropped her off at the Base Mammy Market at about 4.00pm, where she proceeded to photocopy and laminate some documents.

“It was while she was returning from the Mammy Market at about 4.30pm that 3 of her former schoolmates at the Air Force Secondary School (now Air Force Comprehensive School) Kaduna; Mr Nehemiah Adejoh, Mr Igbekele Folorunsho and Mr Festus Gbayegun, drove past her in a Kia Sorento SUV, with Registration Number AZ 478 MKA.

“It is noteworthy that Messrs Adejoh, Folorunsho and Gbayegun are all civilians who live outside NAF Base Kaduna, but were on their way to visit one Mrs Chioma Ugwu, wife of Squadron Leader Chukwuemeka Ugwu, who lives at Ekagbo Quarters on the Base.

“Upon recognizing their schoolmate, Arotile, after passing her, Mr Adejoh, who was driving, reversed the vehicle, ostensibly in an attempt to quickly meet up with the Deceased, who was walking in the opposite direction. In the process, the vehicle struck Flying Officer Arotile from the rear, knocking her down with significant force and causing her to hit her head on the pavement. The vehicle then ran over parts of her body as it veered off the road beyond the kerb and onto the pavement, causing her further injuries.

“Flying Officer Arotile was subsequently rushed to the 461 NAF Hospital Kaduna for treatment, while Mr Folorunsho (one of the occupants of the vehicle) who is also an Accident & Emergency Nurse at the St Gerard Catholic Hospital Kaduna, administered First Aid.

“Flying Officer Arotile was confirmed dead by the On-Call Doctor at the 461 NAF Hospital at about 4.45pm on 14 July 2020, as a result of the head injuries.

“The trio of Messrs Nehemiah Adejoh, Igbekele Folorunsho and Festus Gbayegun were immediately detained at the Air Provost Wing, 453 Base Services Group Kaduna as investigations began. They were subjected to Toxicology Tests at the 461 NAF Hospital but no traces of alcohol or psychotropic substances were found in their systems. It was however discovered that the driver of the vehicle, Mr Nehemiah Adejo, did not have a valid driver’s license.

“Having carefully considered the foregoing, the preliminary investigation concluded that: The death of Flying Officer Arotile was caused by blunt force trauma to the head and significant bleeding resulting from being struck by the vehicle.”

Daramola affirmed that the case would be transferred to the police for further investigation. 

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Lampard Hails Chelsea’s ‘Mentality’ After FA Cup Semi-Final Success

Lampard Hails Chelsea’s ‘Character’ After FA Cup Semi-Final Success

Channels Television  

Updated July 20, 2020

Chelsea's English head coach Frank Lampard gestures during the English FA Cup semi-final football match between Manchester United and Chelsea at Wembley Stadium in London, on July 19, 2020. Andy Rain / POOL / AFP

Chelsea’s English head coach Frank Lampard gestures during the English FA Cup semi-final football match between Manchester United and Chelsea at Wembley Stadium in London, on July 19, 2020. Andy Rain / POOL / AFP

 

Frank Lampard saluted Chelsea’s “character and personality” as they powered into the FA Cup final with a 3-1 win over woeful Manchester United on Sunday.

Lampard’s side were gifted their goals by an error-strewn display from United goalkeeper David De Gea, but Chelsea were deserved winners as they dominated the semi-final from start to finish.

Olivier Giroud opened the scoring late in the first half and Mason Mount got the second after the interval at Wembley.

Harry Maguire’s own goal killed off United before Bruno Fernandes’ late penalty.

After some shaky performances in recent weeks, including a 3-0 hammering at Sheffield United, Lampard was impressed with the spirited way his players out-classed in-form United at Wembley.

“I can’t ask for any more from my players than that. The work ethic and the level of performance. We were on top and when they changed their system we were even better,” Lampard told the BBC.

“Where we are at, it is going to happen that we have some bad displays like against Sheffield United. But to do that against Manchester United, I’m delighted and very proud.

“There was a lot of work done in the last two days to change the system, and you’re only as good as your players in that situation. They deserve a huge amount of credit.

“They should take confidence from that display. We have leaders, you can’t compare across eras but we have leaders in the team. It was a performance full of character and personality.”

Chelsea’s victory moved Lampard a step closer to silverware in his first season in charge of the club where he earned legendary status as a player.

Before their FA Cup final date with London rivals Arsenal on August 1, Chelsea have to focus on qualifying for the Champions League via a top four finish in the Premier League.

They sit third — one point above Leicester and United — with games against Liverpool and Wolves to finish the league season.

“We have finals ahead. Two in the league and then Arsenal,” Lampard said.

“We want to win things, and at the start of the season we wanted to be up there challenging for the top four.

“A lot of people were tipping against us, but quietly I was always hoping.

“I don’t want to put everything on these three games defining everything we’ve done and the progress we’ve made, but of course we want top four, we want trophies and we’re at the business end, so let’s see.”

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Court sentences man to prison for rejecting facemask

An Osun State Magistrate court sitting in Osogbo, on Wednesday, sentenced a man, Jonathan Ukonwe, to 30 days imprisonment for resisting arrest and intentionally disobeying the constituted authority for not wearing facemask. 

The 45-year-old man was arraigned for assaulting a female operative of Amotekun Corps. 

The prosecutor, ASP Abiodun Fagboyinbo told the court that Jonathan assaulted one Meshack Funmilola (F) of Hunters Group of Nigeria by beating her up while performing her lawful duty on the enforcement of the use of facemask.

He said the convict conducted himself in a manner to cause breach of peace by resisting arrest and intentionally disobeyed the constituted authority and deliberately refused to wear facemask. 

The three-count charge filed against the convict read; “That you Jonathan Ukonwe on the same date, time and place in the aforementioned Magisterial District did conduct yourself in a manner to cause a breach of peace by resisting arrest for not wearing your facemask and thereby committed an offence contrary to and punishable under section 249(D) of the Criminal Code Cap 34 Voll. Laws of Osun State of Nigeria 2002. 

“You intentionally disobeyed the constituted authority and deliberately refused to wear facemask in the public and thereby committed an offence contrary to and punishable under section 203 of the Criminal code CAP 34 Vol II Laws of Osun State of Nigeria, 2002.

You assaulted one Meshack Funmilola ‘F’ of Hunters Group of Nigeria by beating her up while performing her lawful duty on the enforcement of the use of facemask and thereby committed an offence contrary to and punishable under section 356 of Criminal Code CAP 34 Vol 1l Laws of Osun State of Nigeria 2002.”

The accused pleaded guilty for count one and two but pleaded not guilty for assaulting Amotekun female corps. 

Magistrate Opeyemi Badmus sentenced the accused to 30 days imprisonment for resisting arrest and intentionally disobeyed the constituted authority for not wearing facemask.

Magistrate Opeyemi later Adjourned the third charge to July 29, 2020, for hearing. 

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Abe Aku tests positive for coronavirus

The Plateau State Commissioner for Commerce and Industry, Abe Aku, has rested positive for coronavirus.

The state governor, Simon Lalong, disclosed this through the State Commissioner for Information and Communication, Hon. Dan Manjang, in Jos, the state capital. 

Consequently, Governor Lalong directed all members of the State Executive Council to undergo test for dreaded virus and thereafter isolate beginning from today, July 1, 2020.

He said, “Plateau State Governor, Simon Bako Lalong has directed members of the State Executive Council to undergo test for COVID-19 and thereafter isolate beginning today, 1st July, 2020.

“This follows the fact that a member of the State Executive Council and Commissioner for Commerce and Industry, Abe Aku, tested positive for the virus after he carried out the test. 

According to him, “Based on the governor’s directive, specimens of the commissioners are to be taken and forwarded to the COVID-19 Laboratory at The National Veterinary Research Institute (NVRI), Vom for testing.

“During the period and pending the outcome of the results, members of the public are advised to be guided by unnecessary visits to members of the State Executive Council while they isolate,” he maintained.

“This action is to not only prevent the possible spread of the disease, but also show leadership by example.”

DAILY POST recalls that, at the wake of the COVID-19 pandemic about three months ago, Governor Lalong and his family carried out the test and all tested negative.

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The Federal Government has extend the pump price of Premium Motor Spirit

The Petroleum Products Pricing Regulatory Agency has announced a new price band of N140.80 to N143.80 per litre for Premium Motor Spirit, also known as petrol.

Sources at the Abuja headquarters of the agency said the rise in petrol price was primarily due to the increase in global crude oil prices.

A circular released on Wednesday July 1, from the PPPRA to marketers reads;

“After a review of the prevailing market fundamentals in the month of June and considering marketers’ realistic operating costs, as much as practicable, we wish to advise a new PMS pump price band of N140.80-N143.80 per litre for the month of July 2020.

All marketers are advised to operate within the indicative prices as advised by the PPPRA.”

The federal government, in March, announced that the retail price of petrol would be adjusted monthly to reflect realities in the global crude oil market. On May 31, 2020, the PPPRA announced a price band of N121.50 to N123.50 per litre for the product. 

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