ICYMI: Economy may slip back into recession, CBN warns

…to discuss with MTN, banks over N8.1bn fine

 Ifeanyi Onuba, Abuja

The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday warned that weak economic fundamentals currently being shown by the economy were putting the country’s exit from recession under threat.

The Nigerian economy exited recession in 2017 after suffering contraction for five consecutive quarters.

READ ALSO: Court declares corps member’s detention by SARS illegal

Addressing journalists shortly after the two-day meeting of the MPC members held at the headquarters of the apex bank, the CBN Governor, Mr Godwin Emefiele, said the economy had started showing signs of weakness.

For instance, he said the committee was concerned that there was a fresh threat of recession as the economy recorded growth rate of 1.95 per cent and 1.5 per cent during the first and the second quarters of this year, respectively.

He noted that the slowdown emanated from the oil sector, with strong linkages to employment…

[Read More …]

Lawyer who allegedly forged court judgment to face prosecution

The Chief Judge of Lagos State, Justice Opeyemi Oke, on Tuesday vowed to prosecute Mr Edward Oseghale, a lawyer, who was nabbed by the police on the premises of the Surulere Magistrates’ Court for allegedly forging a court judgment.

The News Agency of Nigeria reports that Oseghale allegedly forged a judgment purportedly given by Mrs Toluwalase Abayomi, the magistrate of Court 4, Surulere Magistrates’ Court.

The forged judgment pertained to a landlord and tenancy case.

The accused, who was the counsel to the landlord, used the alleged false judgment to evict a tenant.

He was, however, caught when the tenant’s lawyer came to the Surulere Magistrates’ Court to verify the authenticity of the judgment.

Addressing journalist, the Chief Judge, who was represented by the Chief Registrar of the Lagos State Judiciary, Mrs Taiwo Olatokun, said forgery of court documents was rampant in the state.

“The issuing of false judgments, rulings and others have become a source of…

[Read More …]

Lawyer who allegedly forged court judgment to face prosecution

The Chief Judge of Lagos State, Justice Opeyemi Oke, on Tuesday vowed to prosecute Mr Edward Oseghale, a lawyer, who was nabbed by the police on the premises of the Surulere Magistrates’ Court for allegedly forging a court judgment.

The News Agency of Nigeria reports that Oseghale allegedly forged a judgment purportedly given by Mrs Toluwalase Abayomi, the magistrate of Court 4, Surulere Magistrates’ Court.

The forged judgment pertained to a landlord and tenancy case.

The accused, who was the counsel to the landlord, used the alleged false judgment to evict a tenant.

He was, however, caught when the tenant’s lawyer came to the Surulere Magistrates’ Court to verify the authenticity of the judgment.

Addressing journalist, the Chief Judge, who was represented by the Chief Registrar of the Lagos State Judiciary, Mrs Taiwo Olatokun, said forgery of court documents was rampant in the state.

“The issuing of false judgments, rulings and others have become a source of…

[Read More …]

Police arrest car snatchers in Rivers, recover vehicles

Chukwudi Akasike, Port Harcourt

FIVE notorious members of a car-snatching syndicate have been arrested by operatives of the Rivers State Police Command.

The suspects were said to be responsible for the theft of most of the vehicles stolen at gunpoint in Port Harcourt, the state capital, and its environs.

Speaking with newsmen on Tuesday shortly before parading the suspects, the state Commissioner of Police, Mr Zaki Ahmed, said the hoodlums were arrested following a tip-off from well-meaning Nigerians, adding that four Hummer buses and two Hilux vans were recovered from them.

Ahmed identified the suspects as Barisuka Bira, Smart, Sunny Agbo, Ignatius Ogbenu and Adamu Yunusa, who received and pay for Hummer buses and other vehicles stolen by the others.

The CP pointed out that the suspects had since confessed to the crime, adding that the leader of the gang, Barisuka Biira, had earlier led the police to apprehend his cohorts.

“Men of the IGP Monitoring Unit, while acting on…

[Read More …]

Police arrest car snatchers in Rivers, recover vehicles

Chukwudi Akasike, Port Harcourt

FIVE notorious members of a car-snatching syndicate have been arrested by operatives of the Rivers State Police Command.

The suspects were said to be responsible for the theft of most of the vehicles stolen at gunpoint in Port Harcourt, the state capital, and its environs.

Speaking with newsmen on Tuesday shortly before parading the suspects, the state Commissioner of Police, Mr Zaki Ahmed, said the hoodlums were arrested following a tip-off from well-meaning Nigerians, adding that four Hummer buses and two Hilux vans were recovered from them.

Ahmed identified the suspects as Barisuka Bira, Smart, Sunny Agbo, Ignatius Ogbenu and Adamu Yunusa, who received and pay for Hummer buses and other vehicles stolen by the others.

The CP pointed out that the suspects had since confessed to the crime, adding that the leader of the gang, Barisuka Biira, had earlier led the police to apprehend his cohorts.

“Men of the IGP Monitoring Unit, while acting on…

[Read More …]

Economy may slip back into recession, CBN warns

…to discuss with MTN, banks over N8.1bn fine

 Ifeanyi Onuba, Abuja

The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday warned that weak economic fundamentals currently being shown by the economy were putting the country’s exit from recession under threat.

The Nigerian economy exited recession in 2017 after suffering contraction for five consecutive quarters.

Addressing journalists shortly after the two-day meeting of the MPC members held at the headquarters of the apex bank, the CBN Governor, Mr Godwin Emefiele, said the economy had started showing signs of weakness.

For instance, he said the committee was concerned that there was a fresh threat of recession as the economy recorded growth rate of 1.95 per cent and 1.5 per cent during the first and the second quarters of this year, respectively.

He noted that the slowdown emanated from the oil sector, with strong linkages to employment and growth.

For instance, the apex bank boss said the late…

[Read More …]

Economy may slip back into recession, CBN warns

…to discuss with MTN, banks over N8.1bn fine

 Ifeanyi Onuba, Abuja

The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday warned that weak economic fundamentals currently being shown by the economy were putting the country’s exit from recession under threat.

The Nigerian economy exited recession in 2017 after suffering contraction for five consecutive quarters.

Addressing journalists shortly after the two-day meeting of the MPC members held at the headquarters of the apex bank, the CBN Governor, Mr Godwin Emefiele, said the economy had started showing signs of weakness.

For instance, he said the committee was concerned that there was a fresh threat of recession as the economy recorded growth rate of 1.95 per cent and 1.5 per cent during the first and the second quarters of this year, respectively.

He noted that the slowdown emanated from the oil sector, with strong linkages to employment and growth.

For instance, the apex bank boss said the late…

[Read More …]