Nigerian Newspapers: Headlines that will interest you today, Wednesday

Good day, good citizens of Nigeria. Here are headlines from Nigerian Newspapers that may interest you today, Wednesday, September 28, 2022.

1. 2023: Atiku, govs land in Abuja, Tinubu, Obi delay campaigns [Punch Newspaper]

The Peoples Democratic Party will on Wednesday (today) inaugurate its 2023 Presidential Campaign Council in Abuja, the nation’s capital, as political campaigns officially begin in line with the elections timetable stipulated by the Independent National Electoral Commission.

The PDP presidential candidate, Atiku Abubakar, and the campaign council members are expected to storm the International Conference Centre, Central Area, Abuja, the venue of the PCC inauguration.

The party had said it would go on with its campaign programmes despite the withdrawal of Rivers State governor, Nyesom Wike, and other political heavyweights from the council.

2. In Aggressive Bid to Tame Inflation, CBN Raises MPR to 15.5% [ThisDay Newspaper]

The Central Bank of Nigeria (CBN) yesterday raised the Monetary Policy Rate (MPR), otherwise known as interest rate, by 150 basis points, to 15.5 per cent from 14 per cent.

The CBN also raised banks’ Cash Reserve Requirement (CRR) by 750 basis points to a minimum of 32.5 per cent, from 27.5 per cent, in order to mop up liquidity from banks’ vaults and discourage currency speculation.

The apex bank, however, left the Liquidity Ratio (LR) unchanged at 30 per cent.

MPR is the benchmark rate at which the CBN lends to commercial banks, and it often determines the cost of credit in the economy. Read more.

3. House of Reps members use torchlights after power outage during plenary [NewsWireNGR]

The House of Representatives members on Tuesday were forced to use their phone torchlights after a power outage during plenary.

The development forced the Speaker of the House, Femi Gbajabiamila to adjourn the sitting.

According to reports, the lawmakers for the lower chamber had to exit the chambers in darkness using their phone torchlights.

This is coming hours after the national grid for the seventh time in 2022 crashed to zero megawatts (MW), a development that resulted in a nationwide outage. Read more.

4. Abidemi Rufai, suspended aide of Ogun Governor gets five-year jail term over $350k fraud [NewsWireNGR]

Abidemi Rufai, the suspended aide of Ogun State Governor, Dapo Abiodun, has been sentenced to five years in prison for fraud.

After Rufai was arrested at New York’s JFK Airport on his way to Nigeria in May 2021, he admitted using stolen identities to receive thousands of dollars in pandemic-related unemployment benefits a year after.

He was said to have admitted to having obtained identifying information for more than 20,000 Americans, submitting $2 million in claims for disaster relief and other federal benefits, and received more than $600,000 since 2017. Read more.

5. Strike: Why court struck out NANS suit against FG, ASUU [NewsWireNGR]

The National Industrial Court, on Tuesday, struck out a suit filed by the National Association of Nigerian Students (NANS) to compel the Federal Government and the Academic Staff Union of Universities (ASUU) to call off the ongoing strike.

The judge, Justice Polycarp Hamman in the ruling terminated further proceedings in the matter after it was withdrawn by the claimant, Umar Lawal.

From facts, Lawal had filed the suit which was mentioned on September 16, for himself and on behalf of NANS against the Minister of Education, ASUU and the Attorney-General of the Federation. Read more.

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