IMF gives mixed verdict on Nigeria’s economy, reforms ▷ NAIJA.NG

IMF gives mixed verdict on Nigeria’s economy, reforms ▷ NAIJA.NG

The main headlines of the mainstream Nigerian newspapers for Thursday, March 8, are focused on the International Monetary Fund (IMF) warning that the Nigeria’s economy remains vulnerable despite the country’s exit from recession.

The Nation reports that Truck drivers yesterday got a 48 hours deadline to clear off Lagos bridges.

The military and the state government issued the ultimatum during a stakeholders meeting at the Apapa Headquarters of the Western Naval Command (WNC).

At the meeting were the Flag Officer Commanding (FOC) WNC, Rear Admiral Slyvanus Abbah; Permanent Secretary (PS), Lagos State Ministry of Transport, Dr. Taiwo Salau; Commander, 9 Brigade, Nigerian Army (NA), Brig.-Gen. Adiku Attu; Base Commander, Nigerian Air Force (NAF), and Air Commodore Mike Olatunji.

The Nation

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The Punch reports that the International Monetary Fund (IMF) on Wednesday called on the Central Bank of Nigeria to contain rising banking risks in the country, while also commending the regulator for its recent decision to stop weak banks from paying dividends to shareholders.

Against the backdrop of huge non-performing loans, which have weakened the capital base and asset quality of the country’s Deposit Money Banks, it also called on the apex bank to carry out an asset quality review in order to identify any potential capital need among the lenders.

The Punch newspaper

The Punch newspaper

Vanguard reports that the the power crisis in the country may worsen as the power Generation Companies in Nigeria (GENCOs) have dragged the federal government before a Federal High Court sitting in Abuja, over alleged preferential treatment to two of its competitors with intent to harm their business interests.

The GENCOs, which said members were on the verge of collapse over debts in excess of N1 trillion currently generate 80 per cent of the power consumed in Nigeria.

They accused the federal government of giving preferential treatment to Azura Power West Africa Limited and Accugas Limited to the detriment of the Nigerian Electricity Supply Industry and the power sector as a whole.

Vanguard Newspaper

Vanguard Newspaper

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This Day reports that after a trial that lasted more than seven years, Justice Gabriel Kolawole of the Federal High Court, Abuja, finally sentenced Charles Okah and his accomplice, Obi Nwabueze, to life imprisonment for their complicity in the October 1, 2010 independence day bombings near the Eagle Square, Abuja, that resulted in the deaths of 12 persons.

The judge handed down the sentences yesterday, having found them guilty in five of the eight charges preferred against them by the federal government.

This Day Newspaper

This Day Newspaper

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