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
Retired Delta High Court Judge found murdered in Asaba Delta
Retired Delta High Court Judge found murdered in Asaba Delta
By: Zagazola Makama
A retired Delta State High Court judge, Justice Ifeoma Okogwu, was found murdered at her residence in Asaba on Monday morning.
Security sources told Zagazola Makama that the victim, was discovered lifeless in her sitting room at No. 8 Tom Halen Street, behind IBTC Bank, with her hands and legs tied and her mouth covered with a wrapper.
Her brother, Emeka Okogwu, reported the incident to the Police at about 8:00 a.m. while visiting her home. Following the report, patrol teams were deployed to the scene.
The on-duty security guard, Lucky Matthew, was arrested for questioning, while another guard, Godwin Vanen, was reported missing and is being sought.
The police said the body of Justice Okogwu was evacuated and deposited at Maduemeie Hospital Mortuary, Asaba. Investigation into the motive and identification of the assailants is ongoing.
The case has been transferred to SCID Asaba for discreet investigation.
Retired Delta High Court Judge found murdered in Asaba Delta
News
NTAC DG Commends CIFCFIN for Giant Strides on 2nd Founders’ Day
NTAC DG Commends CIFCFIN for Giant Strides on 2nd Founders’ Day
By: Michael Mike
The Director General of the Nigerian Technical Aid Corps, Rt. Hon. Yusuf Buba Yakub, has commended the Chartered Institute of Forensics and Fraud Investigators of Nigeria (CIFCFIN) for its remarkable achievements since its establishment, describing the Institute’s progress as “giant strides”.
The commendation was made during CIFCFIN’s 2nd Founders’ Day celebration, which took place,Thursday,in Abuja,and also featured the induction of new members, professional practitioners, and Fellows of the Institute; in addition to a few Awards to some deserving individuals.

The event,which was chaired by Hon. Justice Moore Abraham Aseimo of the Supreme Court of Nigeria,had in attendance several dignitaries,including the CIFCIN Founder and Pioneer President,
Dr. Iliyasu Buba Gashinbaki;Alh. Mairiga Aliyu Katuga,Chairman of the Securities and Exchange Commission (SEC) as well as Dr. Isa Egah Salifu, Registrar/CEO and Secretary to the Council of CIFCFIN.
Others included the
former EFCC Chairman, Mr. Ibrahim Magu; representative of the Development Bank of Nigeria;representative of the Inspector General of Police as well as the representative of the Corps Marshall of the Federal Roads Safety Corps (FRSC),among many other senior officials of Government and stakeholders of the Institute.
In his remarks,Rt.Hon. Buba expressed pride in the milestones attained by CIFCFIN, noting that the Institute’s growth reflects a strong commitment to professionalism in forensics and fraud investigation,both of which are critical to Nigeria’s fight against corruption and economic crime.
Among those honoured at the event were the NTAC DG,whose role as the sponsor of the Bill for the establishment of the Institute was applauded by all.
The ceremony concluded with an official photo session with the Institute’s leadership and invited guests.
End
News
Christian Genocide: Information Minister Asks CSOs to Correct Misinformation About Nigeria
Christian Genocide: Information Minister Asks CSOs to Correct Misinformation About Nigeria
By: Michael Mike
The Minister of Information and National Orientation, Mohammed Idris, has appealed to Civil Society Organisations to help correct the misrepresentations of Nigeria as a violator of religious freedom.
The Minister made the appeal at the 25th Anniversary of ActionAid in Abuja.
He said there is an urgent need for CSOs in the country to counter the narratives by applying evidence-based insights into the Nigerian situation.
Idris while addressing the misconceptions about Nigeria abroad, insisted that the country is not a violator of religious freedom and reaffirmed that such freedoms are clearly guaranteed in the constitution.
The minister who acknowledged security challenges even as he emphasized that government efforts are yielding progress, cautioned against narratives that mischaracterise Nigeria and strain its relations with its partners, particularly the United States.
He admitted lthe government’s responsibility to protect citizens, especially children, stating that “our children must be safe in their schools, safe in their communities, and safe in their homes” and highlighted President Tinubu’s recent declaration of a national emergency on security.
He revealed that the emergency measures include new recruitment into security agencies, support for state-level security outfits, and a push for legislative action towards establishing state police.
He described the declaration as a turning point in the fight against terrorism and banditry.
He called on CSOs to deepen their support for open governance, media freedom, digital literacy, and community development, and affirmed that ActionAid’s contributions in these areas remain “complementary and invaluable” to national progress.
The Minister who was the Chairman of ActionAid Nigeria 25 years anniversary celebration commended AAN for its action, service, and transformative work across the country.
He said, “For a quarter of a century, ActionAid has taken development to the frontlines, empowering women and girls, strengthening education, improving healthcare, advocating for governance reforms, supporting communities during crises, and amplifying the voices of the most vulnerable.”
He noted that ActionAid must be praised for its innumerable responses to challenging humanitarian situations and grassroots empowerment work that have shaped policy and community development in profound and measurable ways in Nigeria. “Today, we gather to honour this legacy and to look toward the next chapter.”
The Minister said: “I am equally pleased to unveil the ActionAid building prototype, a strong signal of organisational growth and long-term presence in Nigeria. This forward-looking investment reflects ActionAid’s commitment to deepening its contribution to our nation over the next 25 years and beyond. These milestones deserve our collective applause.”
In his remarks, Country Director, ActionAid Nigeria, Andrew Mamedu, said the struggle of AAN in the last 25 years is to help contain poverty, a struggle he said has not been of convenience but of conviction.
He said: “25 years ago, ActionAid Nigeria began with a simple but radical proposition that poverty is not natural.
And that exclusion is not a condition to be managed by the system. But we have to dismantle it. The true development does not happen when charity is displaced.
“Charity may be rights, give things, that’s charity. But when power is shifted from privilege to the marginalised, from silence to participation, from oppression to agency, our journey has never been one of convenience, it has been one of conviction.
“We have chosen to take sides with women denied their rights, with youth denied their voices, and with communities denied access to opportunities they deserve.
“Because we know that to end poverty, we must confront the structural injustice that creates it. “So for the past 25 years, we have stood shoulder to shoulder with people living in poverty and exclusion. Not as saviours, we don’t see ourselves as saviours, but as allies who are working together.”
Christian Genocide: Information Minister Asks CSOs to Correct Misinformation About Nigeria
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