Business
Lagos Assembly Tasks NASS On Monetary Policy
Lagos State House of Assembly has urged the National Assembly to compel the Central Bank of Nigeria to strengthen the monetary policy by using the interest rate to improve and stabilise the economy.
A member of the House, Mr Gbolahan Yishawu who moved the motion at a plenary session in Ikeja, explained that the current interest rate should be reduced to allow small businesses to thrive.
Yishawu said that any attempt to allow the current interest rate regime to continue would be detrimental to the economy.
“The treasury bills rate should be reduced to discourage banks from taking money to CBN, rather than lending them out.
“The cashless policy should be reviewed across the country with effect from 2013 and the telecom sector to provide cashless information on their networks to assist the public.
“Treasury bills with a return of 14 per cent should be discouraged. Treasury bills should not be competing with real sector.
Mr Oluyinka Ogundimu in his contribution, said micro finances needed to be critically examined, and suggested the need to reduce the Open Market Operation, to reduce the money in circulation.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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