The House of Representatives has called on the Central Bank of Nigeria (CBN) to review the Monetary Policy Rates (MPR) in order to curb high lending rate, this will help usher in a new interest rate regime to support enterprise development in Nigeria. The call was made yesterday by Reps following the adoption of a motion brought by Hon. Fatoba Olusola, on the need to investigate banks’ lending practices, protect borrowers from exploitative interest rates and promote economic development.

The Nigerian House of Representatives has summoned the Acting Managing Director of the Niger Delta Development Commission (NDDC), Nelson Braimbraifa, as well as all directors of the commission, and Governor of the Central Bank of Nigeria, Godwin Emefiele over abandoned projects.

Thirty seven members of the House of Representatives elected on the platform of the Peoples Democratic Party, PDP, have defected to the All Progressives...