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ActionAid Nigeria Responds to CBN’s Interest Rate Hike, Highlights Economic Implications and Proposes Solutions
ActionAid Nigeria Responds to CBN’s Interest Rate Hike, Highlights Economic Implications and Proposes Solutions
By: Michael Mike
ActionAid Nigeria acknowledges the Central Bank of Nigeria’s (CBN) recent decision to raise the Monetary Policy Rate (MPR) to 26.25%, as announced by Governor Yemi Cardoso during the 295th Monetary Policy Committee (MPC) meeting. This marks the third consecutive increase aimed at curbing the surging inflation, which currently stands at 33.69%.
Speaking at its head office in Abuja, ActionAid Nigeria’s Country Director, Andrew Mamedu, noted that, “While the decision to adjust the MPR demonstrates a proactive approach to achieving price and economic stability, it is important to acknowledge its broader implications. We recognise that although inflation is still rising, the month-on-month rate increase is reducing. In the other hand, the increased MPR will inevitably lead to higher borrowing costs for businesses and individuals. Small and Medium-sized Enterprises (SMEs), which are the backbone of our economy, will face heightened challenges in accessing affordable credit. This could stifle innovation, growth, and job creation within this vital sector.
For vulnerable populations, the rising cost of living and food prices, exacerbated by higher interest rates, will further strain their already limited financial resources. This becomes a case of double jeopardy of high inflation and high interest rates. As the cost of borrowing increases, so does the difficulty in securing loans for essential needs, pushing many deeper into poverty.”
To mitigate the impacts of the increase in interest rates and inflation, ActionAid Nigeria proposes that the Federal and State Governments must immediately step-up social protection programs to support the most vulnerable populations. This includes expanding food assistance initiatives, providing targeted financial aid to low-income families, and offering more support to other social sectors, including education, health, and housing.
Andrew Mamedu also reiterated that “It is only fair for the CBN to increase special credit facilities with lower interest rates for SMEs at this crucial time to ensure they can continue to operate and grow. Providing technical and financial support to these businesses will help them sustain their contributions to the economy. Additionally, not many people understand the implications of this hike in interest rates. It is very important for the CBN to collaborate with the National Orientation Agency (NOA) to engage with the public and stakeholders to explain the rationale behind these economic policies. This will foster understanding and patience and enhance transparent communication from the government to manage expectations and build trust and get the citizens to hold greedy businesses and individuals accountable from exploiting the system.
The country director concluded that the fiscal aspects of the economy need to complement the CBN’s efforts in managing monetary policy. This includes improving the ease of doing business, implementing progressive taxation, and ensuring effective budgeting and budget utilisation.
ActionAid Nigeria remains committed to working with the government, private sector, and civil society to address these challenges and promote a more inclusive and resilient economy.
ActionAid Nigeria Responds to CBN’s Interest Rate Hike, Highlights Economic Implications and Proposes Solutions
News
Former Kaduna governor El-Rufai loses mother
Former Kaduna governor El-Rufai loses mother
By: Zagazola Makama
The former Governor of Kaduna State, Nasir Ahmad El-Rufai, has lost his mother, Hajiya Umma, who passed away on Friday.
The announcement of her death was announced by the Elrufai Family on Friday.
Family sources said the deceased had been battling age-related health challenges, which worsened in recent times.
According to the sources, her condition reportedly deteriorated further after she learned of the detention of her son by the Independent Corrupt Practices Commission (ICPC).
They noted that El-Rufai had been closely managing his mother’s health prior to her demise.
The family prayed for Almighty Allah to forgive her shortcomings and grant her Aljannatul Firdaus.
Former Kaduna governor El-Rufai loses mother
News
NSCDC Unveils Five-Year Strategy to Strengthen National Security
NSCDC Unveils Five-Year Strategy to Strengthen National Security
By: Michael Mike
The Commandant-General of the Nigeria Security and Civil Defence Corps (NSCDC), Abubakar Audi has unveiled a comprehensive five-year strategic roadmap aimed at strengthening national security, boosting operational efficiency and enhancing professionalism within the Corps.
Speaking at a high-level meeting with commanding officers from state formations across the country, Audi described the gathering as both “historic and strategic,” noting that it signaled the beginning of the second phase of his leadership following his reappointment.
The NSCDC boss expressed gratitude to President Bola Ahmed Tinubu for approving his reappointment and to the Minister of Interior, Olubunmi Tunji-Ojo, for recommending him for the position.
According to him, the renewed mandate provides the opportunity to deepen reforms and reposition the Corps for greater efficiency and national relevance.
Reflecting on his previous tenure, Houdi highlighted reforms introduced to tackle internal challenges within the organisation, particularly the issue of staff stagnation that had affected morale among personnel.
He noted that his administration addressed long-standing promotion delays and salary arrears, adding that efforts were ongoing through a presidential committee responsible for settling outstanding payments across Ministries, Departments and Agencies.
The Commandant-General also underscored the importance of capacity building, revealing that the Corps had developed a standardised curriculum for its training institutions. He described the initiative as a major step toward strengthening professionalism and operational discipline within the agency.
He said more senior officers have also been sponsored to attend strategic leadership programmes, including courses at the National Institute for Policy and Strategic Studies (NIPSS), aimed at improving institutional leadership and policy competence.
“Training remains central to discipline, professionalism and productivity,” Houdi said, adding that the next phase of his leadership would prioritise retraining and ethical reorientation of personnel.
He also highlighted operational achievements recorded by the Corps, particularly in the fight against oil theft and illegal mining across the country.
According to him, the Corps’ Special Intelligence Squad has dismantled more than 400 illegal refineries, arrested and prosecuted over 1,000 suspects, and secured between 400 and 500 convictions.
Similarly, the Mining Marshals initiative has shut down more than 1,000 illegal mining sites nationwide and facilitated the arrest and prosecution of numerous offenders, including foreign nationals.
Audi said these achievements were made possible through collaboration with other security agencies, particularly the Nigerian Army, as well as partnerships with private sector actors.
The Corps has also expanded its operational infrastructure, with new command facilities constructed in several locations and modern surveillance and communication equipment deployed to formations across the country.
He further disclosed that the agency is establishing a hydrocarbon and maritime surveillance centre in partnership with Tantita Security Services Nigeria Limited, alongside an ICT centre project expected to be completed within the next few months.
As part of the new strategy, the NSCDC will increasingly deploy advanced technologies, including artificial intelligence and drone surveillance, to enhance monitoring and protection of critical national assets.
Aidi outlined key priorities for the next five years, including strengthening discipline within the Corps, expanding training and retraining programmes, deploying modern surveillance technologies and enhancing protection of critical infrastructure.
He also announced plans to establish specialised units dedicated to safeguarding power infrastructure and tackling vandalism in the electricity sector.
The Commandant-General warned that the Corps would maintain zero tolerance for indiscipline and misconduct among personnel.
“We must restore professionalism and discipline. Any conduct outside our code will not be tolerated,” he said.
He urged officers to remain committed to protecting critical national infrastructure and to deepen intelligence sharing and collaboration with other security agencies in strengthening the country’s security architecture.
Audi challenged personnel to demonstrate the Corps’ relevance through tangible results.
“We must prove that we are ready to serve the nation with loyalty, commitment and professionalism,” he added.
NSCDC Unveils Five-Year Strategy to Strengthen National Security
News
ECOWAS Court Launches Five-Year Strategic Plan to Deepen Justice, Regional Integration
ECOWAS Court Launches Five-Year Strategic Plan to Deepen Justice, Regional Integration
By: Michael Mike
The ECOWAS Court of Justice has unveiled an ambitious five-year strategic plan designed to strengthen the rule of law, expand access to justice and deepen regional integration across West Africa.
The plan, which will run from 2026 to 2030, was officially launched on Friday in Abuja, where the leadership of the court outlined a bold vision to transform the institution into a more effective and accessible pillar of justice within the Economic Community of West African States (ECOWAS).
President of the court, Ricardo Goncalves, described the strategy as a decisive moment for the institution, saying it reflects a renewed commitment to strengthening the court’s role in safeguarding justice and promoting stability across the region.

“This moment is not merely symbolic. Above all, it represents a turning point. It is a clear affirmation of our collective resolve to strengthen the role of the Court as a guarantor of the rule of law, a promoter of justice, and a vital pillar of regional integration in West Africa,” he said.
According to him, the new strategy outlines a shared vision focused on institutional transformation, operational efficiency and measurable impact on the lives of citizens within the ECOWAS community.
Goncalves emphasised that the success of the initiative would depend on strong collaboration among judges, court staff and key regional stakeholders, stressing that each group has a critical role to play in achieving the objectives of the plan.
He charged judges of the court to reinforce the quality of jurisprudence, ensure consistency in judicial decisions and contribute to building a justice system that is accessible, timely and widely respected across member states.
The court president also highlighted the pivotal role of administrative staff, describing them as the backbone of the institution whose commitment to efficiency, case management and technical excellence would determine the effectiveness of the new framework.
Beyond internal reforms, he stressed the need for stronger partnerships with ECOWAS member states, regional institutions, legal practitioners, development partners and civil society organisations to ensure effective enforcement of court judgments and greater legal harmonisation across the region.
He noted that improved planning, transparency and a results-driven institutional culture would form the foundation of the strategy, which aims to reposition the court as a more visible and influential institution in regional governance.
In her welcome address, the Deputy Registrar of the court, Marie Saine, described the unveiling of the plan as the beginning of a renewed commitment to justice and service to the people of the ECOWAS region.
She explained that the Strategic Plan 2026–2030 was developed through extensive consultations, rigorous institutional review and forward-looking analysis to ensure that it responds effectively to emerging legal and governance challenges within West Africa.
Saine said the strategy is anchored on five key goals, including ensuring timely and impartial justice, expanding access to justice and legal empowerment, strengthening human rights protection and legal harmonisation, improving transparency and stakeholder engagement, and enhancing institutional capacity and governance.
She noted that the roadmap is both ambitious and pragmatic, providing clear priorities that will guide the court’s work over the next five years.
The ECOWAS Court of Justice serves as the judicial arm of the Economic Community of West African States, with the mandate to interpret community law, protect human rights and resolve disputes involving member states and institutions of the regional bloc.
Officials said the newly unveiled strategic framework replaces the court’s previous plan and is intended to position the institution to respond more effectively to evolving legal demands while strengthening its contribution to justice, peace and regional integration in West Africa.
ECOWAS Court Launches Five-Year Strategic Plan to Deepen Justice, Regional Integration
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