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How banks make free money from government funds, by CBN governor

“First of all, you have got liquidity surplus in the banking industry; … there is over N1.3tn or so sitting in banks and belonging to government agencies. Now basically, they (these funds) are at zero percent interest and the banks are lending about N2tn to the government and charging 13 to 14%! Now, that is a very good business model, isn’t it? Give me your money for free and I lend it to you at 14%; so why would I go and lend to anyone?”

My takes on constitution amendment

BETWEEN 2005 and 2006, the regime of President Olusegun Obasanjo started elaborate amendment of the 1999 Constitution. He empanelled the National Political Reform Conference (NPFL). The effort died on the floor of the Senate due to Obasanjo’s insertion of a clause seeking to extend his tenure.

The Abidjan war that was not

One of the reasons why some of us came to Abidjan was to see how we could use our presence, connections and authority to diffuse what was expected to be a “major football war.”

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