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Monetary Policy working despite unacceptably high inflation says CBN Governor

Despite Nigeria’s soaring inflation, the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has assured that the country’s monetary policy is monetary policies are yielding positive results.

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Speaking at the 2024 Annual Bankers’ Dinner in Lagos, organised by the Chartered Institute of Bankers of Nigeria (CIBN), Cardoso emphasised that the current monetary measures are poised to improve the nation’s economic landscape.

He added that although Nigeria’s inflation remains unacceptably high, the signs are still encouraging.

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His comments come in the wake of recent reports from the National Bureau of Statistics (NBS) showing a rise in inflation to 33.88% in October, up from 32.70% in September.

While acknowledging the gravity of the situation, Cardoso expressed confidence that by 2025, inflation will begin to decline.

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“I fully recognise the challenges that higher interest rates impose on businesses and families. However, these measures are not intended to be permanent.

“We are closely monitoring the data and as inflation shows sustained signs of improvement, something we expect in the near future, we will adjust rates accordingly.

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“Our tight monetary policy stance has altered the previous dire trajectory and we expect a downward trend in 2025.

“Inflation remains unacceptably high, but the signs are encouraging, particularly given that the full effects of monetary policy typically take six to nine months to impact the consumer sector,” he stated.

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Cardoso further clarified that the current exchange rate of dollar to naira does not reflect the true market value of the country.

“It is also vital to address the disinformation circulating about a supposed demand-supply gap in the FX market which is fueling unnecessary panic.

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“The current US dollar exchange rate reflects the price that the most desperate buyers are willing to pay and this, in my view, does not represent the true market value of Nigeria.”

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Cholera linked death toll increases to 39 as over 4,200 suspected cases recorded

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Cholera linked death toll increases to 39 as over 4,200 suspected cases recorded

Borno State health authorities have confirmed that 39 people have died from a cholera outbreak that has affected several communities across the state, with more than 4,200 suspected cases recorded so far.

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The Incident Manager of the Public Health Emergency Operations Centre, Dr. Jacob Thlizer, disclosed the figures on Tuesday during a sensitisation meeting on the prevention and treatment of acute watery diarrhoea in Maiduguri.

The meeting brought together representatives from the state’s 27 local government areas and other health stakeholders as authorities intensified efforts to contain the outbreak.

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According to Thlizer, the disease continues to spread, with 274 new suspected cases reported within the last 24 hours.

“New suspected cases in the last 24 hours are 274, while the total suspected cases line-listed are 4,204 from 36 wards in the affected local government areas. In total, we now have 39 deaths,” he said.

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He listed the affected local government areas as Jere, Bama, Kaga, Mafa, Kwaya Kusar, Maiduguri Metropolitan Council, Konduga, Monguno, Magumeri and Ngala.

Data presented at the meeting showed that Maiduguri Metropolitan Council accounted for the highest number of suspected infections with 2,404 cases, followed by Jere with 1,214 cases. Konduga recorded 275 cases, Mafa 184, Monguno 90, Kaga 18, while Bama and Kwaya Kusar reported eight cases each. Ngala and Magumeri recorded two and one case respectively.

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Health officials said the state government has activated emergency measures to curb the outbreak, including the deployment of the Incident Management System, coordination with development partners, public sensitisation campaigns and the procurement of medical supplies.

Speaking at the meeting, Permanent Secretary of the Borno State Ministry of Health and Human Services, Shetima Muhammad, said treatment centres had been established to handle the increasing number of patients.

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He disclosed that the Emergency and Infectious Disease Centre in Njimtilo and an infectious disease camp in Ngarannam with over 1,000 bed spaces had been designated for cholera treatment.

Muhammad also revealed that Governor Babagana Umara Zulum had approved the distribution of drugs and medical consumables to facilities managing infected persons.

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He urged residents to maintain proper hygiene and seek immediate medical attention whenever symptoms linked to cholera are observed.

Also addressing stakeholders, the Secretary to the Borno State Government, Bukar Tijani, pledged continued government support for efforts aimed at containing the outbreak.

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“I want to thank you and commend your efforts. If there are any issues anywhere, please let us know so that we can confront this menace,” he said.

Tijani expressed confidence that ongoing public awareness campaigns and coordinated interventions would help slow the spread of the disease and improve response efforts across affected communities.

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Get rid of Terrorists within 90 days or resign from office – Adeboye tells Service Chiefs

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Get rid of Terrorists within 90 days or resign from office – Adeboye tells Service Chiefs

The General Overseer of the Redeemed Christian Church of God (RCCG), Enoch Adejare Adeboye, has called on Nigeria’s security chiefs to eliminate terrorists within 90 days or resign from office, amid growing concerns over insecurity across the country.

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In a video shared on the church’s official X handle on Tuesday, Adeboye urged the Federal Government to take decisive and urgent steps to confront escalating attacks, kidnappings and killings in several parts of the country.

“If I were asked to make suggestions, I would say quietly to our government, move fast. And tell our security chiefs, get rid of these terrorists within 90 days, or resign,” Adeboye said.

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The cleric noted that while religious leaders can only offer counsel to those in authority, the responsibility for national security ultimately rests with the Commander-in-Chief.

Adeboye referenced past efforts under former President Muhammadu Buhari, recalling that similar directives were issued to security chiefs to combat insurgency and banditry, though he said the targets were not fully achieved within the set timeframe.

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In 2021, Buhari had instructed then-service chiefs to “take out” bandits, kidnappers and their sponsors, urging the military to adopt a more proactive approach in tackling insecurity.

Commenting on that period, Adeboye said the directive was not effectively implemented to completion.

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“He ran with that advice, but he didn’t follow it through. Because he gave the order as the commander-in-chief of the armed forces. The three months went, and the work was not done,” he said.

The RCCG leader added that he later engaged the former president on the issue but declined to disclose details of their conversation.

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He further urged the current administration to ensure that any renewed directive to security agencies should not only focus on neutralising armed groups but also on those financing and supporting them.

“When giving orders to the service chiefs this time around, we should make it clear to them that they are not only to eliminate the terrorists, they should eliminate their sponsors, no matter how influential they may be,” Adeboye added.

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His remarks come amid renewed public concern over insecurity in parts of the country, following a series of recent abductions and attacks on schools and communities.

On May 15, gunmen reportedly attacked two schools in Ogbomoso, Oyo State, abducting several pupils and teachers, with one teacher later killed in captivity, according to reports circulating online.

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Following the incident, President Bola Ahmed Tinubu ordered the deployment of 1000 Forest Guards and a specialised security unit with advanced rescue capabilities to intensify efforts to secure the release of the victims.

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Five police officers remanded in Prison over alleged murder

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Five police officers remanded in Prison over alleged murder

Five police officers accused of involvement in the alleged killing of 28-year-old Delta State musician and delivery worker, Oghenemine Million Ogidi, popularly known as OG Millan, have been arraigned before a High Court in Asaba and remanded in custody pending further proceedings.

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The officers were brought before High Court 5 sitting in Asaba in a case that has drawn public attention and renewed calls for accountability. Proceedings were held before Justice Marshal Onome Umukoro under Suit No. THC/ASB/CR/M/66C/2026.

The defendants include ASP Usman Nuhu (42), ASP Onoloko Dauroupamo (47), ASP Okoh Kelechi (46), Inspector Goodluck Kingsley (42), and Inspector Omonigho Ahweyevu (41).

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The court ordered that the accused officers be remanded at the Ogwashi-Uku Correctional Centre pending further legal steps in the matter. Journalists were also reportedly barred from covering the proceedings.

The case was adjourned to June 15, 2026, for arraignment, following a request for legal advice from the Directorate of Public Prosecutions (DPP).

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OG Millan was reportedly killed on April 26, 2026, after he was allegedly intercepted in Effurun, Delta State, while delivering a package said to contain a firearm and ammunition.

Following the court proceedings, the deceased’s elder brother, Victory Ogidi, expressed concern over what he described as poor communication between authorities and the family regarding the progress of the case.

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He said the family had been left to depend on social media reports and unofficial sources for updates on both the investigation and court proceedings.

“We lost our brother, and we should not be relying on social media to know what is happening in a case that concerns us directly,” he said.

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Victory called on the Delta State Attorney-General, the Ministry of Justice, and the Nigeria Police Force to ensure transparency and provide regular updates to the family, stressing that their demand was for information, not preferential treatment.

Human rights activist Harrison Gwamnishu described the arraignment as a step forward in the pursuit of justice and accountability in the case.

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He said the court ordered that the suspects remain in custody while the DPP reviews the file and provides legal advice.

“Today, they finally produced the officers in court, including the principal suspect and others. The judge ordered that they remain in custody while the DPP reviews the case,” Gwamnishu stated.

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He expressed hope that the legal process would be accelerated to ensure a full and transparent trial.

However, the activist raised concerns over allegations from the family that they had not been properly briefed on key developments in the investigation, including access to the autopsy report.

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He also noted claims that there were attempts to restrict media coverage of the proceedings, including limitations placed on journalists seeking to observe the court session.

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