Niger Delta militants promise to blow up more oil factories

Militant group, the Niger Delta Avengers (NDA), has vowed to bomb more oil pipelines beginning from first week of August.

The group warned oil workers and foreigners still in the region to vacate or risk their lives.

The group which has claimed respon­sibility for recent spate of bombings of oil facilities in the region said it has had enough of the dishonesty and tricks of the Federal Government, as it claimed the peace talk or dialogue purportedly initiated by the Federal Government was a delay tactics to enable the gov­ernment take delivery of arms includ­ing drones expected to arrive by end of August from the United States.

“This whole thing makes us to won­der what kind of country is this? We can all see that President Buhari-led govern­ment is a fraud. They are not serious about any dialogue. But they make it look as if the Niger Delta Avengers are the ones not ready for dialogue.

“Mr. President, you can purchase all the drones in Europe and the United States of America, it won’t stop the Niger Delta Avengers from bringing the country’s economy to zero.

“The worst you can do is to kill poor innocent people which the military is good at, but you should know that the Nigerian economy will suffer, as you will not be able to export one litre of crude in the Niger Delta. Just intensify the oil exploration in the North East. As for the ones in the Niger Delta, forget about it because the Nigerian govern­ment won’t export a drop from our land,” the militants bragged.

But the military has read the riot act to the militants to desist from attacking oil installations or face the consequences of their criminal actions.

Commander of Operation Delta Safe, Rear Admiral Joseph Okojie who gave the warning in Asaba during a courtesy call on Governor Ifeanyi Okowa of Delta State vowed that the multi-service task force was prepared to tackle any criminal action within the Nigerian maritime area.

He said the military has the mandate of President Muhammadu Buhari to secure the waters in the Niger Delta region covering part of Ondo, Edo and the entire Delta, Bayelsa, Rivers as well as part of Akwa Ibom states against security and economic threats.

Meanwhile, the Concerned Militant Leaders (CML) has claimed responsi­bility for the attack on the Nigerian Na­tional Petroleum Corporation (NNPC) pipeline, which occurred on Monday, at Obotim Ikot Ekong village in Akwa Ibom State.

Also, the CML said the Liberian ship, which its “rugged sea warriors” seized on Tuesday, July 19, 2016, on Bakassi Peninsula Nigerian waterways, would not be released, adding that the vessel would be named after Biafra.

Spokesperson of the group, General Ben, stated this yesterday, while react­ing to the statement by the Chief of Army Staff, Lt.-General Tukur Buratai that the militants would be attacked, if government’s efforts to dialogue with militants proved futile.

General Ben claimed no active militant group has engaged the Federal Government in any discussion, warning that any individual who works against the collective agenda of the militants would regret his or her action.

Joji said by blowing up oil pipelines and destroying other key facilities that affect the economy of the Nigeria, the militants have declared war against the Nigerian state, and therefore should not be pitied.However, former Managing Direc­tor of the defunct Nigerian Airways, Captain Mohammed Joji said Buhari should not romance the militants by going into dialogue with them. He said government should engage them “fire for fire.”

Captain Joji said the militant group has not only inflicted incalculable pains on Nigerians, but also about to cripple the nation’s economy.

While lamenting that the activities of the Avengers was responsible for the scarcity of aviation fuel, the aviation expert said if the the ‘madness’ was al­lowed to continue, it would ground the aviation industry, which would in turn ground the economy.

“Fuel scarcity in the aviation sector is a sabotage by the so-called Niger Delta Avengers, so pipeline vandalism must be brought to a halt if the crisis must end.

“I am not an advocate of negotiations with a terrorist group. The Federal Gov­ernment should forget about democracy and go fire for fire with the Avengers,” he said.

In a related development, former minister of mines and steel, Chief Sarafa Tunji Ishola enjoined President Buhari to quickly summon an emergen­cy Council of State meeting to address the prevailing insecurity.

Ishola said the president should not wait until the insecurity in Niger Delta, the agitation for Biafra Republic in the South East and the continuous killings of innocent Nigerians by herdsmen, spi­ral out of hand before convening such a meeting.

“Allowing insecurity to persist beyond the current level may spell doom for Buhari’s administration, because the level of poverty in Nigeria today is just too high that people are only tolerating his administration temporarily.

“If he should allow Nigerians to run out of patience and revolt against his administration, that may spell doom,” the Peoples Democratic Party (PDP) chieftain said.

The ex-minister explained that the president should not think the rising insecurity in the country was something he and his All Progressives Congress (APC) could solve alone.

“Buhari needs wisdom from former Heads of State and other elder states­men who have ruled this nation before him. So, he needs to call the Council of State meeting as a matter of urgency, with security matter as the sole agen­dum.”

Ishola noted that it would be a great error on the part of Buhari to think that the method he used about 31 years ago as military Head of State is what he would use now as civilian president.

“This is a democratic dispensation, you have to carry along critical stake­holders and also have listening ears, if not the insecurity will get out of hand. And if you are talking about diversifica­tion of the economy, tell me, which foreign investors will go to a country to invest where they are throwing bombs, kidnapping people and demanding huge ransoms?” he queried.

Man City players are not overweight says Guardiola

Pep Guardiola denied dictating to his Manchester City players exactly what they can eat and said none were overweight, after Gael Clichy claimed the new manager had banned junk food and exiled out-of-shape stars.

Speaking in China, where City are on a money-spinning pre-season tour, the French defender told the Guardian newspaper and other British media that former Barcelona and Bayern Munich coach Guardiola had wasted no time in laying down the law.

“You often hear managers say being healthy is really important. With him, if your weight is too high, you’re not training with the team. That is the first thing and you can hear it a lot, but for my part it’s the first time any manager has really done it,” Clichy said.

“So we have a few players who are not training with the team yet.

“He cut out some juice and pizza and all the heavy food is not allowed,” added the 31-year-old.

There has been plenty of attention paid to Guardiola’s new regime on and off the pitch since his high-profile arrival this summer, but the Spaniard denied taking a dictatorial approach with his players.

“The nutritionist is the boss. I’m not a chef. He decides what they have to eat,” he said, speaking in the southern Chinese city of Shenzhen, the latest leg of their stop-start China tour.

He also denied his players had returned to training out of shape: “No, they are not overweight.

“I want my players fit. For me that is important… I need to get my players absolutely fit.”

– ‘No holiday’ –

City’s pre-season preparations took a hit on Monday when their derby against Manchester United was called off because of the poor pitch at Beijing’s “Bird’s Nest” Olympic Stadium, following heavy rain.

Guardiola, who will be under pressure to inspire ambitious City to silverware in his first season, now wants to get on with the business of playing football.

“We haven’t travelled here to China for just a holiday, we have travelled here to play games,” said Guardiola. “Maybe it’s a lesson for the people who organised the games. The pitch is the most important thing.”He revealed that the club were making a frantic push to line up an English Championship or non-league club for a friendly next week to replace the lost Beijing game.

The City players arrived in Shenzhen on Tuesday and were given scorching late afternoon workouts, and again Wednesday, as they dusted off the disappointment of the cancelled Manchester derby.

Guardiola said he had been enjoying putting the City squad through its paces and assessing the quality at his disposal.

“Every manager has his own ideas,” he said. “But it’s impossible to achieve even one victory if the players don’t want it. They are comfortable with the challenge and they are trying to understand me and I am trying to understand them as soon as possible.”

The heat in Shenzhen remains as it was in Beijing – baking – but there seems little chance of any similar heavy downpours.

So City have been able to get on with the business at hand –- getting match ready for Borussia Dortmund, who breezed past United 4-1 in Shanghai last Friday.

Guardiola’s men can expect much of the same Thursday from last season’s Bundesliga runners-up in front of what is expected to be a sell-out crowd of around 40,000 at the Shenzhen Universiade Stadium.

The Spaniard revealed he had been singling out his midfielders for extra work when it came to tracking back to help the defence.

Midfielder Fabian Delph, who joined his boss to meet the press before Wednesday’s workout, said City’s players knew what they were in for when Guardiola signed on.

“If you can’t follow the regime, you fall short,” said Delph.

National Assembly to get 2017-2019 MTEF in October- Punch

The Medium Term Expenditure Framework for 2017-2019, which is the document that will guide the preparation of the budget for that period, will be ready and submitted to the National Assembly by October, the Federal Government has said.

The Minister of Budget and National Planning, Senator Udo Udoma, disclosed this on Monday at a stakeholders’ consultative forum with civil society groups on the 2017-2019 MTEF.

Udoma explained that due to the volatile nature of crude oil in the international market, the Federal Government would be using a conservative figure as the benchmark oil price.

The benchmark figures are $42.5, $45 and $50 per barrel for the 2017, 2018 and 2019 fiscal periods, respectively.

The exchange rate upon which the budget is to be anchored, according to him, will be pegged at N290 to the dollar for the period.

He said, “Demand and supply factors are expected to keep crude oil prices low in the medium term compared to the period prior to mid-2014. We are considering a conservative oil price benchmark of $42.5 per barrel for 2017, $45 per barrel in 2018 and $50 per barrel in 2019.

“We estimate oil production to be 2.2 million barrel per day for 2017, 2.3 million barrel per day in 2018 and 2.4 million barrel per day for 2019. We have pegged the exchange rate for 2017, 2018 and 2019 at N290 to a dollar.”

The minister also said that from the 2017 fiscal year, the government would use recoveries made from misappropriated funds to finance the budget.

He said a significant increase in non-oil revenue receipts was being expected owing to the fact that the economy would experience gradual recovery.

Udoma stated that the Federal Government would propose a total sum of N7.41tn as distributable revenues in the 2017 fiscal year, while N7.85tn and N10.16tn were the revenue projections for 2018 and 2019, respectively.

He said, “A significant increase in non-oil revenue receipts is projected due to a gradually recovering domestic economy and government’s expected improvement in Federal Inland Revenue Service tax collection efforts. Company Income Tax is projected to increase from N1.79tn in 2016 to over N1.86tn in 2017 and beyond.

“Value Added Tax collections are to increase by about 42.4 per cent in 2017. Operating surpluses projection has been moderated downwards for 2017 and thereafter a modest growth. Customs collections are projected to moderate downwards for 2017 and thereafter a modest growth.”

On progress so far made in the 2016 budget, Udoma said out of the N6.07tn budgeted as total expenditure, the Federal Government had so far released the sum of N2.1tn.

He added that out of the projected revenue of N1.043tn from statutory revenue for the first half of the year, only N646.34bn was realised, while N52.570bn was realised from VAT from a projection of N99.12bn for the same period.

Out of the N2.1tn so far spent, the minister said debt servicing gulped N598.6bn; statutory transfer, N175.68bn; pension and gratuity, N79.18bn; and personnel cost, N891.31bn, among others.

He added that the sum of N253bn was released for capital projects.

Some of the representatives of the civil society groups, who spoke at the event, called on the Federal Government to learn from the mistakes made with the 2016 fiscal document.

For instance, the Lead Director, Centre for Social Justice, Mr. Eze Onyekpere said, “We have all seen that the revenue projections for 2016 were over optimistic. This is why we are finding it difficult to get money to fund the budget, especially the capital expenditure.

“From 2017 onwards, we should be more empirical in our revenue forecast. Let it be more realistic so that there won’t be a deviation of more than minus or plus five per cent. This is because if we have more money, we can do supplementary budgets rather than have an overly optimistic revenue projections and at the end of the day, we are not able to fund our budget.”

The Governance Programme Manager, Actionaid Nigeria, Mr. Obo Effanga, reminded the government of the limited time it had to fulfil its electoral promises.

He said, “This administration has a four-year period and one year has gone already, and even the government has admitted that the last year will be given to politics; so, effectively, they have just two years left.

“And we are preparing the budget for one of the two years remaining; so, if we don’t make sure that this works very well, it means that we can only look up to 2018.”

Shame: As ambassadorial nominees unable to recite national anthem, plegde.

An unexpected drama played out at the screening of career ambassadorial nominees by the Senate Committee on Foreign Affairs on Tuesday when three of the ambassadors designate could not answer elementary questions posed to them by the committee members.

The first nominee to be screened, Vivian Okeke, from Anambra State, failed in her recitation of the National Anthem.

In spite of several attempts, she continued to omit the last eleven words in the last stanza of the anthem, “to serve with heart and might, one nation bound in freedom,” before ending with peace and unity.

Also the nominee from Niger State, Ibrahim Isa, failed to recite the national pledge correctly as he also fumbled with the last stanza of the pledge.

When told by the committee to recite the pledge, he concluded by saying, “to defend her unity and integrity, so help me God,” instead of “to defend her unity and uphold her honour and glory, so help me God” which is the right wording of the pledge.

Jane Ndem, the nominee from Benue State, shocked the committee most when she failed the question posed by Chairman of the Committee, Senator Monsurat Sunmonu ( APC Oyo Central).

The nominee was asked to mention 12 out of the 36 states in the federation and their capitals, and she repeatedly mentioned Lagos and added Lagos as its capital.

Ikeja is the capital of Lagos State.

Surprised by her submission, a member of the committee, James Manager, interjected by asking, “Are you saying the capital of Lagos is Lagos?”

The nominee failing to get the drift of the question responded affirmatively by saying “yes, capital of Lagos State is Lagos because I even started my working career there,” which made the entire eight-man committee to burst into laughter.

Though newsmen were on hand to witness the embarrassing situation, Special Assistant to President Muhammadu Buhari on Senate Matters, Senator Ita Enang, however, tried to cover up the embarrassing situation as he issued a statement denying the failure of the nominees, saying nothing of such happened.

Okeke, in her submission on difficulties being faced by the embassies, mentioned underfunding as the major problem crippling the nation’s embassies which, according to her, has turned to big embarrassment to staff of the embassies who are more or less squeezing water out of stone to run the embassies.However, the nominees made very good submissions in their responses to other questions in terms of policy statement.

Pressed further on his knowledge of foreign economic blueprint, the nominee explained succinctly how China got their economic prosperity right because their president at the time of their recession decided to shut its doors against import from other nations and was busy rebuilding China through domestic policy approach.

She also stressed that if Nigeria could configure its foreign policies with the interest of benefiting from resources abroad, it would help the situation immensely.

A total of 15 out of 47 were screened by the committee on Tuesday.

Senator Enang, in his rebuttal of blunders committed by some of the screened nominees, said the reported blunders were misrepresentation of fact.

The statement read: “Our Attention has been drawn to report by a section of the media that some Ambassadorial Nominees were unable to recite the National Anthem and Pledge while appearing before the Senate Committee on Foreign Affairs for screening today.

“May I state that the nominees were able to respond to questions asked them, and also recited the National Anthem and Pledge when called upon. As such, the report by the media is incorrect.

“Subjecting them to criticisms at this point over a situation which never happened in the first place is most unfair and uncalled for.

“Let me use this opportunity to appreciate the effort of the Chairman, Senate Committee on Foreign Affairs, Senator Monsurat Sumonu, and members of the committee, for the intellectual and thorough manner in which the exercise is being carried out.”

Dangote Immensely commended by Global Bodies for investment in Africa

Global Organised Labour under the aegis of African Industrial Global Union has commended the President of Dangote Group, Alhaji Aliko Dangote for his strategic investments across African countries and creating thousands of jobs for the teaming population.

The body, at a meeting in Lagos, called for special recognition for the African entrepreneur, describing him as a success story from African soil for which African countries must be proud of.

Speaking at a network meeting on unionisation in Dangote group, organised by Industrial Global Union Africa Region in Lagos, Union leaders one after another said Dangote has offered a relief to Africa from the negative narratives the western countries latched on to discredit her and her people.

They stated that much as an African could be so patriotic as to be dotting African soil with billions of dollars investments to create jobs and reduce poverty, he needs to be given special recognition to motivate others to tow similar line.

Relishing on the prospective of an African country hosting the single largest Refinery and Petrochemicals train project, the union leaders said it was planning in their next African meeting to bring the business mogul to address global union leaders.

Regional Secretary, Sub-Saharan Africa, Fabian Nkomo said the body cherished the business acumen of Dangote and would like to work closely with him so that as he creates jobs, the union could also partner to ensure job quality is maintained.

He said he has moved round Africa and discovered no one else has invested so much in Africa as an Africa and therefore Dangote should be encouraged. “He has help governments across African states to create vital jobs and reduce poverty among our people, the unions are very proud of him”, Nkomo stated.

In his remark, the Africa Regional Chairman of Industrial Global Union, Issa Aremu who is also the General Secretary of Textile Workers Union commended Aliko Dangote for leading industrialisation in the Africa continent.

Aremu acknowledged the remarkable efforts of Aliko Dangote at re-industrialisation of the continent, stimulating the continent’s growth and creating more jobs for its huge population.

Dangote Group was commended for the strong network of branches across the Africa continent; Nigeria, Ghana, Cote d’ Ivoire, Liberia, Sierra Leone, Senegal, South Africa, Zimbabwe, Zambia, Tanzania, Congo, Cameroun, Kenya, Ethiopia among others.The labour leader lauded the commitment of Dangote to sustainable industrial development and urged government to provide favourable environment for investments as well as improvement in infrastructural development.

Aremu added that it was time Dangote group entered into mutually rewarding engagement with relevant unions with a view to unionisation even as he called on trade unions to support business through improved productivity.

He alluded to the $12 billion dollar Refinery, Petrochemicals and Fertilizer projects which he said will be a revolution of the Nigerian industrial space when completed.

As partners in progress, Aremu pledges the support and cooperation of Industrial Global to ensure business-friendly unionization of the Dangote workers.

He nevertheless cautioned the unions involved to be proactive and strategic in approaching the exercise saying “we need to show that we are partners to improve on the businesses of Alhaji Aliko because we are talking of unionization because there is an investment in which workers are engaged. If there there are no businesses, we can’t be talking of unionism.

“So first and foremost, we must be seen to be part of forces that are protecting investments. We are not business killers, if anything we are adding values. So we cherish him as one of the few Nigerians making a good story out of Nigeria and Africa and would like to collaborate with him.

Industrial Global Union with headquarters in Geneva, Switzerland represents 50 million workers in 140 countries in the cement, mining, energy and manufacturing sectors. Industrial is a force in global solidarity taking up the fight for better working conditions and trade union rights around the world.

Criticism trails CBN’s decision to hike MPR to 14%

Emma Ujah, Abuja Bureau Chief, Babajide Komolafe & Peter Egwuatu
ABUJA—The Central Bank of Nigeria(CBN), yesterday, jerked up its Monetary Policy Rate  (MPR)to 14 per cent, attracting criticism from  business experts who predicted that the hike will lead to increased  corporate failures, unemployment  and decline in the nation’s stock market.

At the end of its Monetary Policy Committee (MPC) meeting in Abuja yesterday, the CBN, raised the MPR from 12 percent  to 14 per cent, while retaining the Asymmetric Window at +200 and -500 basis points around the rate. The apex bank also retained the Cash Reserve Ratio (CRR) and the Liquidity Ratio at 22.50 per cent and 30.00 per cent, respectively.

Governor of the CBN, Mr. Godwin Emefiele, who announced the outcome of the MPC meeting, said that the move was towards ensuring price stability as it would attract more inflow of foreign exchange into the country.

Justifying the new rate, he said, “Basically, the issues were that you notice during the May meeting, the MPC decide to say look, if we notice the balance between inflation and growth that we should stay with growth and expect that growth.   But given the fact that monetary authorities cannot directly influence, we expect that working with fiscal authorities, we can achieve growth

But at this meeting,  we took a lot of time to deliberate on whether to favour growth as against inflation.

“We felt that there was a need in line with the CBN core mandate to look at price stability at a time- that if we favour price stability at this time and it signals an interest rate movement that will curtail inflation that when we curtail inflation, a lot more stakeholders interests would have been met, thereby encouraging in this case the inflow of capital into the country.

“And as we have more inflow of foreign exchange into the country, what that does is that it deepens forex supply base and by deepening the forex  supply base it makes  forex  available to end users , particularly to the manufacturing sector who need raw materials to boost manufacturing and industrial capacity and we are also hoping that when this is achieved, what you find is that naturally, prices would be affected downwards.

“When you have a situation when foreign exchange is also made available to those who want to import agriculture inputs, insecticides or plants it helps to boost agric productivity which will also help to moderate the effects on prices downwards.

“What this does is that it generally creates activities that would boost not just manufacturing outputs but will indirectly push growth forward. That was purely the essence of let’s push to the direction of inflation and price stability which was the focus of this meeting against growth.

“It didn’t mean that we didn’t have growth at the back of our minds.   But we felt let’s start by looking at price stability.   Push towards curtailing inflation, and at the same time ultimately see how we can achieve growth in the same vein.”

Hike will worsen economic situation

Analysts however faulted the decision of the MPC to hike the MPR saying it would worsen the economic situation in the country.

“This is not an answer to recession, the answer is to make more money available, but the CBN has decided to be tactical because growth is a long term goal”, commented Mr. Bismarck Rewane,   Managing Director/Chief Executive, Financial Derivatives Limited

“He stated that the MPR hike, “Is a formalisation of what is happening in the money market, where treasury bills rate are already higher than 14 percent hence it would not have effect on interest rate in the market. But it will increase cost of borrowing especially for small and medium enterprise (SMEs), increase default on debt, corporate failures and hence increase unemployment. It will also increase cost of borrowing for state governments. It will increase appetite for regulatory borrowing, because banks would now prefer to buy treasury bills and bonds which now offers higher rate. However it will make the naira to strengthen.

According to the Managing Director, APT Securities and Funds, Mr. Garba Kurfi, “

The upward increase in interest rate by the CBN is not the best at the moment if government is serious in encouraging local production.   This is because high interest rate will make the cost of production higher if producers are to get loan at higher rate from the financial institutions. The high interest rate will discourage investments in the capital market if one can get 14 per cent risk free from the money market. This move apparently is likely to promote money market but with the inflation rate at 16.5 per cent may encourage”.

Also commenting, Head, Investment Research, Cowry Asset Management Limited, Mr. Edgar Ebinum said,   “The reason for the hike is obvious but it is challenging for capital market, and it would stifle borrowing.  While it is necessary to ensure a positive real return, by making the interest rate higher than inflation, but investors look beyond interest rate, the conditions in the economy is still not attractive to foreign investors

The decision will cause the real sector to slow down, because there would be reduction in lending to the sector. In fact the hike makes lending more difficult for banks. The banks are already battling against rising non-performing loans and hence have reduced lending activities”.

Speaking in the same vein, Managing Director, High Cap Securities Limited,   Mr. David Adonri said, “The increase in MPR to nearly match inflation rate is expected response from the monetary authority. It will crowd out credit from real sector and depress equities market. The manufacturers would be affected as credit would be on the rise. Response of fiscal authority should be to reduce domestic borrowing and move towards fiscal consolidation”

On his part, Mr. Kunle Ezun, a research analysts with  Econbank Plc noted, “The decision was expected and the expectation has been factored into transactions in the money market. Remember that TBs were been sold at 14 per cent last week. That is why the market is calm.

“I also believe that the 200 basis point raise is sufficient to address the rising inflation level now. The reality is that inflation level is more of consideration to foreign investors and they are not in the market now. The local guys don’t really bother about inflation.”

The hike in MPR was however commended by Managing Director, Chief Economist,Africa, Standard Chartered Bank, Mrs  Razia Khan.  She said, “The decision to raise the monetary policy rate despite growth concerns will give investors a clear signal on the authorities’ intent to sustain FX reforms.   This should be well-received.

“Given the cost-push nature of inflation in Nigeria, which largely stems from the shortage of FX, we believe that this was the right thing to have done.   Today’s monetary policy decision demonstrates a commitment to FX liberalisation, which alone will undo some of the bottlenecks that have contributed to inflation.

“As Nigeria embarks upon the path of reform (FX liberalisation, fuel price deregulation, transparency initiatives, efforts to boost revenue mobilisation, power sector reforms), all with a view to easing the economy’s transition to lower oil prices, and creating the foundation for more sound long-term growth, we think that today’s MPC decision represented an important initial step in the right direction.

Chief Executive Officer, SOFUNIX Investment and Communications Ltd and Chartered Stockbroker     Mr. Sola Oni,  said The Central Bank of Nigeria (CBN) has pushed up the Monetary Policy Rate (MPR) from 12 per cent to 14 per cent on the basis that the existing nominal anchor is a disincentive to investment for both foreign and indigenous investors, particularly, when compared to the current inflation rate.

In portfolio management, the logical assumption is that relationship between interest rate and stock market is inverse. This implies that when interest rate is low, speculators move their funds from the   money market instruments’ to the stock market to make a kill.

As a corollary, the same speculators move from the stock market to other asset classes, especially, fixed income securities when the interest rate is high.

By this logic, one can assume that the current increase in the MPR would boost investment in the fixed income securities while it may depress investors’ appetite for equity investment.

But the fact remains that it is not always so as economists would say ceteris paribus which means all things being equall. There are many exogenous factors that affect investment decision at the level of investment objective. As for the economy, the stock market mirrors the economy.

Therefore, it is not cast in iron to just conclude that the CBN’s increase of the MPC to a 10 -year high will have negative impact on the stock market.”

Funny or not. -Guardian Toon

Lol.....