The headlines from mainstream Nigerian newspapers of Thursday, August 3, are focused on the nation's economy and a stern warning from International Monetary Fund (IMF).
The Guardian reports that the International Monetary Fund (IMF), one of the Bretton Woods monetary institutions with a focus on global economy, has advised the Central Bank of Nigeria (CBN) against continuous interventions in the country’s move to address her infrastructural challenges.
The advice by the IMF, which just concluded her Article IV Consultation (country’s economic policies review), is based on the argument that continuous intervention (spending outside government’s budgetary provisions) is encouraging a lot of laxity and indiscipline in fiscal administration of the country thus exposing the economy to a lot of vulnerabilities.
The Guardian Newspaper
The Punch reports that a professor of Economics at the Olabisi Onabanjo University, Ago Iwoye, Sheriffdeen Tella, said the delay in the passage of the budget had contributed in slowing down the recovery of the economy, adding that inflation had not fallen at the rate it should.
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The managing director, Cowry Asset Management Limited, Mr. Johnson Chukwu, said nothing fundamental had changed about the Nigerian economy to give one the assurance of a sustained growth or recovery.
The Punch Newspaper
ThisDay reports that Acting President Yemi Osinbajo on Wednesday took a swipe at those complaining about the marginalisation of their ethnic groups, saying they were opportunists seeking political appointments.
The acting president, who spoke at a seminar on Unity and National Security organised by the Institute of Security Studies, Abuja, said most of the agitators were fighting for personal interest rather than the good of their ethnic groups.
This Day Newspaper
Vanguard reports that Attorney-General of the Federation, AGF, Abubakar Malami, SAN, may clash with acting chairman of Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, following alleged breach of the rules in the latter’s prosecutions, especially in high profile cases.
A top official of the anti-graft agency disclosed that the EFCC acting chairman was served a letter from the office of the Attorney-General on Tuesday, asking him to comply with regulations in prosecution of high profile cases.
Vanguard Newspaper
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Meanwhile, The Nation reports that there were fears yesterday over the future of the Buhari administration’s anti-corruption war, following a letter from the Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami (SAN).
The AGF is demanding for the outcome of some investigations and recommendations on such cases from the EFCC boss, Mr. Ibrahim Magu.
The Nation Newspaper
The letter is suspected to be a booby trap for Magu to show whether or not he will disrespect the directive of the AGF.
At the EFCC, officials are concerned that the AGF may use his constitutional powers to determine which cases to prosecute or discontinue.
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