September 23, 2015

Page 1

Newspaper of the Year

O D •STORY ON ONS PAGE 7 : ES ER T I ARORKTES 48 L SA W RO AGE •Agbekoya issues 24-hour ultimatum •OPC joins search P P

Falae’s family raises N2m as abductors cut ransom to N90m •Nigeria’s widest circulating newspaper

VOL. 10, NO. 3345 WEDNESDAY, SEPTEMBER 23, 2015

•www.thenationonlineng.net

TR UTH IN DEFENCE OF FREEDOM TRUTH

N150.00

Nigeria’s economy may slip into recession, CBN warns

F

ROM the Central Bank of Nigeria (CBN) yesterday came a warning shot on the economy: Nigeria risks sliding into recession next year. The apex bank also hinted that the implementation of the Treasury Single Account (TSA) might affect the country’s economic

From Nduka Chiejina, Abuja

growth. Speaking yesterday at the end of the Monetary Policy Committee (MPC) meeting in Abuja , CBN Governor Godwin Emefiele lamented that with "two consecutive quarters of slow growth, the economy could slip into re-

cession in 2016 if proactive steps are not taken to revive growth in key sectors of the economy." Emefiele added: "The overall economic environment remains fragile. The economy further slowed in the second quarter of the year, making it the second consecutive quarterly less-

than-expected performance." In the face of the prevailing circumstances, the MPC advocated that a "synergy between monetary and fiscal policies remains the most potent option to sustainable growth." The committee specifically "noted that liquidity withdrawals from the implemen-

tation of the TSA, elongation of the tenure of state government loans as well as loans to the oil and gas sectors could aggravate the liquidity conditions in the banks and impair their financial intermediation roles, thus affecting the economic growth, unless some actions are imContinued on page 6

•Emefiele

•INSIDE: N222B SPENT ON FUEL SUBSIDY P45 AVIATION WORKERS PROTEST N250B DEBT P45

•NO W THE PLEA: Saraki in the dock...yesterday. •NOW

PHOTO: ABAYOMI FAYESE

Saraki...docked Senate President pleads not guilty Tribunal fixes Oct. 21 for hearing

WHO SAID WHAT

The Judiciary saved the nation ...One can just imagine what would have happened if there were contradictory decisions by the courts —Prosecution

S

ENATE President Bukola Saraki’s trial for alleged false declaration of assets yesterday began on

I am puzzled why I should be before the tribunal. I thought that the...Bureau should have first called on me, according to the...law. —Saraki

From Eric Ikhilae, Abuja

a dramatic note at the Code of Conduct Tribunal (CCT).

The defendant...must enter the dock and take his plea, and thereafter any other application shall be taken. That is the order of the tribunal. —Tribunal

He made valiant effort not to enter the dock (accused box) and answer to the 13-count charge brought against him by

the Code of Conduct Bureau (CCB). Saraki, who was compelled by the tribunal to submit him-

?

WILL THE CHIBOK GIRLS EVER RETURN? self for arraignment, over one hour after the commencement of proceedings, pleaded “not guilty” to the charges when they were read to him by the tribunal’s official. The Senate president on Monday lost at the Court of Appeal, Abuja; the Federal High Court, Abuja and the CCT his bid to prevent the execution of the bench warrant issued against him by the CCT three days earlier. Continued on page 6

•ECOWAS SENDS TEAM TO REINSTATE BURKINABE INTERIM GOVERNMENT P53


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