News From the World Press: All the news reports concluded that he has won this struggle.
The chamber stressed that its introduction had been generating some negative outcomes. Speaking at its quarterly press briefing on the state of the economy yesterday, the outgoing LCCI president, Mr. Goodie Ibru, noted that the problems created by these recent reforms in the financial sector had potentially distortionary ef- fects on the economy.
However, in trying to deal with the situation through recently introduced reforms in the foreign exchange market, other problems appear to have been created. He explained that with this development, there was a high risk of round tripping in the foreign exchange market as the official and parallel market rates widened.
Ibru also noted that there was heightened risk of inflationary pressures as the exchange rate in the parallel market depreciated drastically.
Ibru added that the situation had thrown up the challenge of excessive documentation and bureaucracy, which would slow down the tempo of economic activities and created transparency problems.
He also noted that through the efforts of the apex bank, inflation was now in a single digit and exchange rate had been stable in the official market.
Ibru, however, said the sudden and drastic increase of the CRR on public deposits from 12 per cent to 50 per cent had caused a shock on the financial system which had been profound with serious systemic implications. The money accrued between and This was also as senators re-opened debate on state police.
He said the situation called for the creation of state police to ensure effective policing of the country. No matter how much you bring, you are not going to change the police. Senator Umaru Dahiru PDP-Sokoto noted that considering the poor level of policing in the country in recent times, there was the need to create state police.
As it is today, nobody can trust the federal police to provide security for the people.
In his lead presentation, Tutare said that the Federal Government in initiated police reform to address the lack of offices, residential accommodation, operational vehicles and commu- nication equipment.
There is nothing wrong with having a state police. Senator Oluremi Tinubu APC-Lagos while supporting the call for state police urged the Senate to avoid trivialising the issue of security of the people. We requested for state police but many of us voted against it here.
We may be having problem over the struggle for who controls the funds contributed for the police reforms. Deputy Senate President, Ike Ekweremadu, noted that the solution to the problem of the police called for urgent decentralisation of the police. Senate President, David Mark, also backed the call for the creation of state police to effect structural changes that would enhance effective policing of the country.
I am sure you have noticed that sometimes ago I also changed my mind to say that maybe we should experiment with state police and see what it is.For an extensive discussion of the human resource literature on the "business case" for family-friendly policies, which can be used to overcome a claim of business necessity, see WILLIAMS, UNBENDING GENDER, supra note 1, at , “Nightly Business Report produced by CNBC” (NBR) is an award-winning and highly-respected nightly business news program that airs on public television.
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Each lively half-hour combines trusted, credible and unbiased information and extensive financial market coverage with insightful features, analysis and commentaries by noted economists and business.
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