News
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
Two Forest Security Guard Members arrested in Ogun for extortion, illegal possession of firearms
Two Forest Security Guard Members arrested in Ogun for extortion, illegal possession of firearms
By: Zagazola Makama
Two men claiming to be members of the Nigeria Forest Security Services (NFSS) have been arrested in Sagamu, Ogun State, for illegal possession of firearms and extortion of motorists.
Zagazola Makama report that the arrest was made on Dec. 28, 2025, at about 8:32 p.m. following a report that three men dressed in security uniforms were sighted along Ikenne Road, near the NYSC Orientation Camp, collecting money from motorists while visibly armed with hunter-style guns.
Upon receiving the information, operatives from the Sagamu Division raced to the scene and apprehended two suspects: Emmanuel Idu, 55, and Sunday Moses, 35. A third suspect, identified as Oyilo David, 35, fled the scene and is currently at large.
During preliminary interrogation, the arrested men claimed to be attached to the Sagamu NFSS unit operating along Agbele Road by Otunba Gbenga Daniel Market. They also stated that the locally fabricated guns recovered from them were issued by a Commander Kehinde Joseph, allegedly supervising their operations.
In addition to the firearms, security operatives recovered one unexpended cartridge and the sum of ₦1,000 in ₦200 denominations from the suspects.
Authorities disclosed that one of the suspects had previously been implicated in a motorcycle theft case in Abeokuta, where the stolen motorcycle was recovered, and charges were filed in court.
The suspects have been transferred to the State Criminal Investigation and Intelligence Department (SCIID), Abeokuta, for further investigation.
Two Forest Security Guard Members arrested in Ogun for extortion, illegal possession of firearms
Troops neutralise key Boko Haram commanders in Bama airstrikes
By: Zagazola Makama
Troops of Operation Hadin Kai, supported by Nigerian Army and Nigerian Air Force platforms, have neutralised several key Boko Haram terrorist commanders during coordinated airstrikes in Bama Local Government Area of Borno State.
Sources told Zagazola Makama that the airstrikes were conducted on Dec. 25, 2025, following actionable human intelligence on terrorist movements in the area.
According to the sources, no fewer than 10 Boko Haram terrorists were killed in the initial airstrike. Those neutralised included Abul Kaka, Ibn Mu’azu, Abu Muhammad, Ba Alhaji, Bakura, Modu, Abu Hassan, Kaka Alai, Abba Yakariye and Bamusa.
The sources further disclosed that another terrorist, identified as Ubaida, sustained serious injuries during the strike.
The sources added that a subsequent follow-up strike by Nigerian Air Force assets led to the instant killing of three additional terrorists.
Security sources confirmed that the majority of the neutralised fighters were loyal to Bafu, a notorious Boko Haram commander operating in the Bama axis.
An assessment of the operation indicated a significant degradation of Boko Haram’s fighting capability in Bama, particularly among elements under Bafu’s command, as a direct outcome of the sustained air campaign.
The sources noted that while the general security situation in the area remains calm, it is still considered unpredictable due to the fluid nature of insurgent activities.
Troops neutralise key Boko Haram commanders in Bama airstrikes
IPOB attack Enugu police patrol team, kill two officers and seize firearms
By: Zagazola Makama
Two police inspectors have been killed and three rifles stolen following an attack on a Distress Response Squad (DRS) patrol along Zik Avenue by Good Shepherd Specialist Hospital in Enugu State.
Zagazola gathered that the incident occurred at about 8:30 p.m. on Dec. 27, 2025, when six armed men, suspected to be members of IPOB/ESN, operating in an ash-coloured Lexus RX 350 SUV, attacked and set ablaze the patrol Hilux vehicle.
The sources identified the slain officers as Inspectors Valentine Iheme and Ani Anayo, both members of the DRS team. The assailants carted away three AK-47 rifles with 30 rounds of live ammunition each.
According to the sources, all tactical teams and assets of the command have been activated and deployed in pursuit of the suspects, with a view to neutralising them and recovering the stolen firearms.
The sources said that the Enugu State Police Command has vowed to bring the perpetrators to justice.
IPOB attack Enugu police patrol team, kill two officers and seize firearms
Notorious drug peddler killed during police raid in Katsina
Two Forest Security Guard Members arrested in Ogun for extortion, illegal possession of firearms
Troops neutralise key Boko Haram commanders in Bama airstrikes
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