Chibok girls, the mirror in our faces

As we remember the girls captured in Chibok three years ago, we must remember that they constitute only a fraction of the victims of the Boko Haram insurgency. I would urge Bring Back Our Girls (BBOG), while you keep this issue of Chibok on the table, to broaden your message to cover all girls and boys abducted by Boko Haram, and also draw attention to the condition of girls and women in our society in general. To give you an idea of the extent of this problem, as at today,…

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Nigerian interbank rate jumps on cash shortage

Nigerian interbank lending rates rose sharply by around 100 percentage points on Thursday, as commercial lenders scrambled for cash to pay for bond purchases and cover their positions, traders said. Overnight lending rates rose to around 300 per cent from 200 per cent at the end of Wednesday, as naira liquidity dried up in the banking system and some banks were forced to borrow from the central bank. Nigeria raised N105.32 billion ($345 million) from bond sales this week, and payment for the debt sale was due on Thursday, draining…

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Debt threatens FG’s economic recovery plan

Nigeria’s recently launched Economic Recovery and Growth Plan (ERGP2017-2020) appears to have been generally well received by industry experts. However, the country’s already high debt service ratio in proportion to income, is raising concerns in some quarters about government’s ability to fund the scheme. TONY CHUKWUNYEM writes   Nearly two years after he assumed office, President Muhammadu Buhari last Wednesday, launched what his administration has tagged the Nigeria Economic Recovery and Growth Plan (NERGP2017-2020). Although the event came about a month after the Ministry of Budget and National Planning posted…

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