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Obaseki Criticizes CBN’s New Monetary Policy

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Obaseki Criticizes CBN’s New Monetary Policy....KINDLY READ THE FULL STORY HERE▶

Governor Godwin Obaseki of Edo State has expressed disagreement with the Central Bank of Nigeria’s decision to increase the Monetary Policy Rate by 22.75 percent, arguing that it does not provide a solution to the country’s ongoing economic challenges…….CONTINUE READING

During his address as a guest speaker at the Annual Dinner of the Edo Zone Bankers Committee in Benin City, Governor Obaseki emphasized the importance of prioritizing local production to meet the demand for goods and services, rather than solely relying on monetary measures.

He stated, “While I understand the monetary rationale behind increasing the MPR, fundamentally and fiscally, it is not conducive to economic growth. We need to focus on increasing production and reducing our dependence on imports.”

Governor Obaseki emphasized the necessity for fiscal and monetary policies to work in tandem to address economic challenges effectively, cautioning against overemphasis on exchange rates and tightening liquidity measures.

The recent adjustment in the MPR by the Central Bank, as announced by Governor Olayemi Cardoso, aims to tackle the country’s high inflation rate, which currently stands at 29.90 percent.

Governor Obaseki urged for a balanced approach, stressing the importance of job creation and economic growth as priorities in addressing Nigeria’s economic woes, rather than solely focusing on foreign exchange concerns.

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“Some Fools Still Think Everything Is Okay” – Spyro Blasts Nigerians Over Electricity Crisis.

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Nigerian singer, Spyro, has expressed anger over the persistent electricity crisis in the country, Naija News reports.....KINDLY READ THE FULL STORY HERE▶

Nigerian singer, Spyro, has expressed anger over the persistent electricity crisis in the country, Naija News reports.

The singer’s reaction followed a visit to an electricity distribution company’s office, where he sought an explanation for the poor power supply despite paying for Band A electricity service.

However, his experience at the office took an unexpected turn when he noticed the difficult conditions under which the employees were working.

According to Spyro, the staff members were battling the heat and using hand fans because there was no electricity in their workplace.

He disclosed that the situation became even more disturbing after a female employee who attended to him revealed that her neighbours often mocked her for working with an electricity distribution company while still experiencing power outages in her own home.

Recounting the incident in a post on his page, Spyro wrote:

“I went to EKDC office out of frustration to find out why I pay for Band A and yet zero electricity. On getting there, I was moved by compassion as the workers were literally fanning themselves, no electricity. The lady that attended to me said, ‘My neighbours shame me for working here, yet I have no light.’

“And yet some FOOLS still seem to think everything is okay in this country 🫠”

 

Clarify Spyro’s electricity complaintUse a more balanced news tone

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TCN Blows Hot, Accuses IKEDC Of Misleading Customers Over Grid Instability.

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The Transmission Company of Nigeria (TCN) has challenged Ikeja Electric (IKEDC) over its explanation for the recent electricity disruptions experienced by Band A customers.....KINDLY READ THE FULL STORY HERE▶

The transmission company maintained that the outages were caused by a decline in electricity generation rather than instability in the national grid, Naija News reports.

TCN disclosed its position in a statement issued by its management on November 6, 2026.

The response followed a public notice released by IKEDC on November 5, in which the distribution company attributed several power outages affecting Band A feeders on November 3 and 4 to instability in the national grid.

IKEDC had blamed the disruptions on TCN, but the transmission company dismissed the allegation, describing the explanation as inaccurate and misleading.

TCN explained that the responsibility for investigating and establishing the actual causes of disturbances and interruptions on the national grid lies with the Nigerian Independent System Operator (NISO), in accordance with Section 67 of the Electricity Act 2023.

In the statement, the company said, “The determination of the root cause of disturbances, shortfalls and interruptions on the national grid falls exclusively within the defined functions of the Nigerian Independent System Operator (NISO).

“TCN can only transmit the energy made available to it and cannot transmit energy that is not generated.

“Attributing shortfalls caused by generation constraints to TCN misinforms customers, undermines public confidence and obscures the real challenges that all stakeholders must work together to resolve.

“DisCos should communicate based on verified information from NISO, the body responsible for the operation of the grid.

“TCN sympathises with customers affected by the reduced hours of supply.”

The company urged electricity distribution companies to rely on verified information from NISO when explaining power supply disruptions to their customers.

It also expressed sympathy for consumers affected by the reduced hours of electricity supply.

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Another Major Loss For Nollywood As Popular Actor Is Confirmed Dead.

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The Nigerian movie industry has been thrown into mourning following the death of veteran Nollywood actor, Diewait Ikpechukwu.....KINDLY READ THE FULL STORY HERE▶

Ikpechukwu reportedly passed away on Thursday, November 5, 2026, at the age of 71 after battling a prolonged illness.

A family source confirmed his death to Daily Post but declined to reveal the specific illness he suffered before his demise.

Similarly, the National President of the Actors Guild of Nigeria, Alhaji Abubakar Sanusi Yakubu, announced the actor’s passing in an Instagram tribute on Friday, November 6, 2026.

In his tribute, Yakubu described Ikpechukwu as another legendary figure who had departed, noting that his memories would continue to live in the hearts of those who knew him.

The late actor enjoyed a career spanning more than 25 years and was particularly recognised for his roles in Nollywood productions, where he frequently portrayed traditional rulers, influential personalities and respected elderly figures.

Diewait Ikpechukwu was born on August 23, 1955, and hailed from southeastern Nigeria.

Before venturing into the movie industry, he was an accomplished footballer who played as a right winger during the 1970s. His footballing talent reportedly earned him an invitation to the Green Eagles camp, Nigeria’s former senior national football team.

He featured for clubs such as Blue Diamonds of Nsukka and Kaduna Rocks and also captained the Kaduna Polytechnic football team.

While studying in Kaduna, Ikpechukwu developed an interest in broadcasting and reportedly worked with radio stations, where he provided football commentary.

His involvement in football and broadcasting gave him early exposure to the media and entertainment world before he eventually pursued an acting career.

Academically, the late actor attended Comprehensive High School in Awo-Omamma, Imo State, before proceeding to Kaduna State Polytechnic, where he obtained a Higher National Diploma in Marketing.

He subsequently completed his National Youth Service Corps programme at Ahmadu Bello University, Zaria, and later earned a postgraduate diploma in Marketing from Enugu State University of Science and Technology.

Before fully embracing acting, Ikpechukwu worked with the Nigerian Telecommunications Limited (NITEL), where he held the position of business office manager.

His transition into entertainment followed his involvement in television productions at the Nigerian Television Authority (NTA), Enugu.

He made his feature film debut in Evil Men in 1998, playing the role of a traditional ruler. The movie also featured prominent actors, including Pete Edochie, Alex Usifo and Liz Benson.

The production marked an important turning point in his acting career and helped establish his presence in Nollywood.

Over the years, Ikpechukwu became a familiar face to movie lovers through his convincing portrayals of kings, traditional rulers, elderly statesmen and other influential personalities.

His commanding screen presence made him particularly recognisable in films centred on traditional institutions, cultural heritage and African customs.

His death marks another loss for the Nigerian entertainment industry, with tributes expected to continue from colleagues, fans and admirers.

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