Traders Close Shops in Kaduna Over Bomb Scare

Kaduna desertedThere was pandemonium in Kaduna metropolis on Monday following an alarm over a white bag abandoned near Kontagora road, which the traders suspected to be a bomb. 

The bomb scare on Monday afternoon forced traders to close their shops and started rushing home for safety.

Immediately the rumour filtered into the area, many people ran helter-skelter in order not to be caught in the web of any explosion.

However, a Police anti-bomb squad that arrived at the area promptly discovered that the bag contained some waste items and not bomb.

The alarm occurred barely one hour after news of a bomb explosion in Kano filtered into the city, a situation that promptly triggered fear of a coordinated attack by terrorists in the two cities.

A suicide bomb had gone off about 10AM on Monday, July 28 at the Nigerian National Petroleum Corporation (NNPC) Mega Filling Station at Hotoro area along Maiduguri Road, Kano.

The suicide bomber, suspected to be a female, had slipped into the crowd of citizens buying kerosene at the station before detonating the explosives. The suicide bomber and three others have been confirmed dead, eight persons are injured and rushed to the hospital.

3 Killed In Kano Suicide Attack

bomb-explosion1A suicide bomber and three others have been confirmed dead following a bomb explosion at the Nigerian National Petroleum Corporation (NNPC) Mega Filling Station, in Hotoro area, along Maiduguri Road, Kano.

The bomb went off about 10AM on Monday July 28.

The suicide bomber, suspected to be a female, had slipped into the crowd of citizens buying kerosene at the Station before detonating the explosives. The suicide bomber and three others have been confirmed dead, eight persons are injured and rushed to the hospital.

According to a statement by the Police Public Relations Officer, Frank Mba; “It is instructive to note that the Mega Station did not go ablaze due to the security barricade put in place by the Policemen on duty at the station. Such a situation would have clearly complicated the Emergency response.

“Security Forces have cordoned off the scene, and Police Bomb Disposal Experts are ‘sweeping’ the area.”

Citizens have been advised to stay off the scene, be vigilant and report any suspicious person(s) or activities to security forces.

He added that full scale investigation has commenced, as intensive patrol of the city was ongoing.

Expectations Heighten As Emefiele Resumes As CBN Governor

vlcsnap-2014-06-03-13h12m27s245Expectations have continued to heighten as the new Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, resumes work.

An economic analyst, Mr Henry Boyo, who was our guest our business programme Business Morning, expects Mr Emefiele to maintain price stability, which according to him is the core mandate of the Central Bank.

He said that the new apex bank boss should find a way to curb the excess liquidity in the system and ensure that Government stops borrowing back its money at a higher interest rate.

Mr Emefiele takes over from Dr Sarah Alade, who had acted as the CBN Governor for three months following the suspension of former governor of the bank, Mr Lamido Sanusi.

Nigeria To Raise N138 Billion In Treasury Bills

Nigeria plans to issue N137.97 billion worth in treasury bills on June 4 with maturities ranging from three months to one year, the Central Bank said on Wednesday.Money-1

The bank said it would auction N22.97 billion worth in three-month treasury bills, N30 billion of six-month paper and N85 billion of the one-year debt note.

Auction results are expected the following day, the bank said in a statement.

Yields on Nigerian short-dated debt have progressively declined in the last two months due to rising demand for the debt notes by local pension and offshore investors.

Nigeria Police Confirm Suicide Bomber, Four Others Killed In Kano Bomb

Police SUFive people, including a suspected suicide bomber, have been killed in a bomb explosion that rocked Kano on Sunday night, the Police have said.

The incident, which occurred at Gold Coast, Middle Road Junction, also destroyed vehicles that were passing when the suicide bomber’s car exploded.

Eyewitness accounts say that the blast was so powerful that all that remains of the car is its engine.

The Kano State Police Commissioner Adelere Shinaba said that apart from the suicide bomber, three men and a girl of about 12 years of age also died.

He also said that the car exploded along the road, meaning the bomber could not reach his destination before the explosion.

The explosion, which occurred at about 9:30 pm, took residents of the city unawares, causing a stampede around the area which resulted in multiple accidents on roads close to the scene of the blast.

The area had been cordoned off by security operatives and movement is restricted.

Bars and alcohol-sellers in the Sabon Gari area have been targeted on numerous other occasions.

In January 2012, about 150 people died there in a series of coordinated attacks by the Boko Haram.

MPC Meeting Will Not Change Nigeria’s Monetary Policy- Economist

vlcsnap-2014-05-19-13h42m01s239As the Monetary Policy Committee (MPC) meeting begins today, analysts expect the committee to review key developments in both the global and domestic economies up to April 2014, and the outlook for the rest of the year.

On Business Morning today, an economist, Dr Boniface Chizea says he is not expecting any major change on the monetary policy for now until the new Central Bank Governor, Godwin Emefiele, takes over on June 2.

According to him, the new CBN governor must ensure stability in the monetary policy rate which is currently high.

He is also of the opinion that the new CBN governor has an erroneous task of growing the economy which according to him can be done by stimulating the economy.