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Farewell to a Star: Alexx Ekubo Laid to Rest in Emotional Ceremony in Arochukwu

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The Nigerian entertainment industry came together in grief and celebration as beloved Nollywood actor Alexx Ekubo was laid to rest in his hometown of Arochukwu, Abia State , in an emotional ceremony attended by family members, colleagues, friends, and admirers from across the country. The burial marked the final chapter in the life journey of one of Nollywood's most admired actors, whose charisma, talent, and generosity earned him a special place in the hearts of millions. The late actor's funeral ceremony drew an impressive gathering of Nollywood stars, entertainers, business personalities, and well-wishers who traveled to Arochukwu to pay their last respects. The solemn occasion was filled with tears, prayers, tributes, and heartfelt reflections as loved ones remembered the remarkable life and legacy of the actor. According to the funeral arrangements earlier released by the Ekubo family, burial activities began with a Service of Songs held in Lagos, where friends, col...
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CBN Revises Lending Rate to Curb Inflation and Stabilize Economy

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The Central Bank of Nigeria (CBN) has once again revised its benchmark lending rate, raising the Monetary Policy Rate (MPR) as part of efforts to combat rising inflation and stabilize the nation's fragile economy. This latest adjustment signals the apex bank's commitment to tightening monetary policy in response to persistent inflationary pressures and currency volatility.

At the conclusion of its recent Monetary Policy Committee (MPC) meeting, the CBN announced an increase in the MPR by 150 basis points, bringing it to 26.25%. This decision marks the third rate hike in 2025, following earlier adjustments in response to inflation, which currently hovers above 33%.

CBN Governor, Mr. Olayemi Cardoso, explained that the rate revision is aimed at taming inflation, stabilizing the naira, and restoring investor confidence in the Nigerian economy. According to him, “Inflation has become a major threat to our economy, eroding purchasing power and increasing the cost of living. The MPC believes this hike will help reduce excess liquidity and strengthen monetary stability.”

The revised rate will impact commercial banks, as it directly influences lending costs and interest rates across the financial sector. As borrowing becomes more expensive, individuals and businesses may find it more difficult to access credit. While this may slow down economic activities in the short term, the CBN believes the long-term benefits will outweigh the drawbacks.

Economic analysts have reacted with mixed feelings. Some argue that the hike may burden small businesses and increase loan default risks. Others support the move, noting that tightening monetary policy is necessary to stabilize prices and restore confidence in the economy.

As Nigerians continue to grapple with high prices and a weakened currency, all eyes are on the CBN to ensure that these policy shifts translate into real economic relief. Whether this latest rate hike will yield the desired outcomes remains to be seen.

— Luchiinter News
luchiinter.blogger.com

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