Business
CBN Retains MPR At 11%
The Central Bank of
Nigeria (CBN) has announced the retention of the Monetary Policy Rate (MPR) at 11 per cent.
The CBN Governor, Mr Godwin Emefiele announced this recently while speaking on the fixing of the MPR.
In an NTA programme monitored by our correspondent recently, the CBN governor declined to give details of the new frame work.
“My apology is that you did not get that at this meeting, but I am sure in the course of time you will begin to see some of our effort that we have put in place to finetune the foreign exchange market” he said.
According to Emefiele, the CBN has been able to provide some flexibility in the market and also deepened the market so that business could go the way it is supposed to be.
The CBN governor also explained that the restriction of 41 items in the forex market has some impact on the economy.
“Production of fish in Nigeria has also gone up, a lot of people are embracing the production and sale of catfish”, he said.
He said because the country had limited resources it was important to prioritise them for the general good of the citizenry.
It would be recalled that the monetary policy committee in its last meeting in November 2015 had dropped the NPR from 13 per cent to 11 per cent.
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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