MORAHSOCIAL

The IMF has called on the CBN to discontinue direct financing of government for the country to witness strong economic recovery from recession. Financial experts have warned of the possible consequences of the central bank of Nigeria's [CBN] direct financing of government on inflation and other economic indices. Mr Amine Mati the senior representative and mission chief for Nigeria at IMF said the government should cut down the need for domestic bond issuances, a situation he said is crowding out credit to the private sector. One of the experts an external member of CBN's monetary policy committee Adedoyin  Salami, criticized CBN's massive injections of cash to the government,accusing the bank of serving as a "pigg bank" for the government against its own rules. Mr Salami warned that CBN is pushing Nigeria to a serious economic crisis. To cover up for this illegal financing the experts said the CBN has been crambling to elvolve policies that would counter t

Nnamdi Kanu's lawyers led by Mr Ifeanyi Ejiofor has declared their client missing.Mr Ifeanyi Ejiofor said they have filed a suit before the federal high court in Abuja to the chief of Army staff, lt-Gen.Tukur Buratai , to produce kanu in court. In a text message sent by Mr Ejiofor to sahara reporters on Wednesday   "we just filed an application for the prerogative order of habeas corpus commanding the chief of Army staff to produce Nnamdi Kanu in court".