Citing Positive Macroeconomic Developments, CBN Retains MPR at 27.50%, Other Monetary Tools Unchanged Cardoso: we have seen greater confidence in our markets, Naira now more competitive, increasing interests from investors Says apex bank in better position to start rates moderation CPPE welcomes development, says in line with experts’ analyses
James Emejo in Abuja and Nume Ekeghe in Lagos The Central Bank of Nigeria (CBN)
yesterday resolved to retain the Monetary Policy Rate (MPR), the benchmark interest, at 27.50 per cent, with the asymmetric corridor of +500/-100
basis points around the MPR. The apparent halt in the bank’s tightening regime came against the backdrop of recent stability in the
Foreign Exchange (FX) market with the resultant appreciation of the exchange rate and gradual moderation in the price of Premium Motor Spirit (PMS).
The central bank also left all monetary policy parameters unchanged, including the Cash Reserve Ratio (CRR) of Deposit Money Banks (DMBs) at 50
per cent, and that of Merchant Banks at 16 per cent as well as the Liquidity Continued on page 17
Friday 21 February, 2025 Vol 30. No 10911. Price: N400
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Fagbemi to Adeleke: Shelve Planned Council Polls in the Light of Current Crisis We’ll allow court to determine the correctness or otherwise of their claim, governor insisted
Chuks Okocha, Alex Enumah in Abuja and Yinka Kolawole in Osogbo
The Attorney-General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi, SAN, has appealed to the
Governor of Osun State, Senator Ademola Adeleke, to stop the planned Local Government Council election
in the state pending the expiration of the tenure of the Court of Appeal restored officials.
But Adeleke, has said the state had resolved to allow the court determine the correctness or otherwise of their
ruling in the state’s local government Continued on page 17
32 Years After, IBB Accepts Responsibility, Regrets Annulment of June 12 Poll Says Abacha-led forces cancelled election without his approval Admits MKO Abiola won Nigeria's freest election Tinubu to Babangida: Declaring Abiola's victory courageous act Gowon: How IBB restored my rank, honour after treason charge Obasanjo tells ex-leader to expect good, bad, ugly reactions Jonathan: He's one of Nigeria's most charismatic leaders Osinbajo: Why new book will not end debate on IBB’s years in power Dangote: his policies liberated Nigeria’s private sector Abdulsamad Rabiu: his time in power marked by bold reforms Over N16bn realised at book/presidential library launch
Story on page 17
IBB FINALLY ACKNOWLEDGES MKO WINNER OF JUNE 12 ELECTION...
L-R : Former President Goodluck Jonathan; Former Head of State, Yakubu Gowon; President Bola Ahmed Tinubu; Former Head of State, Ibrahim Babangida and Former President Olusegun Obasanjo, at the IBB book launch PHOTO: GODWIN OMOIGUI titled “A Journey in Service” held at the Transcorp Hilton Hotel, Abuja.... yesterday