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FCTA suspends tenement rates collection

THE Federal Capital Territory Administration, FCTA Friday approved the temporary suspension of Tenement Rates collection in FCT, just as it said that only the National Assembly has the constitutional role to prescribe rates to be paid on tenements in the FCT and not the administration.

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Naira’ll succumb to more vulnerabilities if America raises rates by December – Otunuga

If they had followed the comments the finance minister made about cutting rates, and had followed it, and cut it back to 12%, they would have created some instability which would have upset some investors. But then this is a double inflation as well because it is a battle between growth and inflation. So of course the high rates right now was causing concerns about the investment because of high debts to pay back but at the same time, price stability is probably what the CBN is trying to do, to cut the inflation rate which is 17.6% and also trying to stabilise the naira.

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