CBN resets interest rates to 23%
The monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) has reset the monetary policy rate (MPR) to 23 percent. Olayemi Cardoso, CBN’s governor, made the revealation while addressing thr media on Tuesday, after the committee’s 307th meeting in Abuja He said 11 members of the Committee were present at the meeting He […]
Senate President Godswill Akpabio has addressed the absence of President Bola Tinubu and Vice-President Kashim Shettima, who are currently abroad. Tinubu is on vacation in Europe, while Shettima attends the UN General Assembly in New York. Bolaji Abdullahi, spokesperson for the African Democratic Congress, criticized the situation as a "dangerous disregard for the Constitution" and called for a clear answer on who is currently exercising presidential powers.
Presidential candidate Omoyele Sowore urged the National Assembly to follow Section 145(2) of the 1999 Constitution to mandate Shettima as Acting President. President Tinubu left Nigeria on August 30, 2026, for a three-week vacation, but extended his stay by "a few days," which has now expired. Section 145 requires the President to transmit a written declaration to the Senate President and Speaker of the House to enable the Vice-President to perform presidential functions while on vacation.
If the President fails to do so within 21 days, the National Assembly can mandate the Vice-President to act as Acting President. Akpabio insisted that there is no vacancy in the Presidency and that Tinubu remains in charge of Nigeria. He further claimed that the Vice President has already performed presidential duties while the President was abroad.
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