Recession: Why Nigeria’s economy will never grow – Okonjo-Iweala

Nigeria’s former Finance Minister and Coordinating Minister for the Economy, Ngozi Okonjo-Iweala, has stated that growth and development cannot be achieved in any country that has loopholes in its foreign exchange rates.

She made this statement at a time Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, promised that the nation’s ailing economy will be out of recession by the end of the third quarter of 2017.

Speaking after the Monetary Policy Committee (MPC) meeting in Abuja on Tuesday, Emefiele said the CBN will not dictate where the much-needed foreign exchange convergence will be, but hopes the rate will head southwards rather than remain on the high side.

But the former World Bank Managing Director who spoke at the launch of ‘Beating the Odds: Jumpstarting Developing Countries’, a book written by Justin Yifu Lin and Celestin Monga in Ahmedabad, India, said there was no one way to growth and development, for any economy without putting some basic principles in place.

Pastor slept with me for 6 years, I’ve had 4 abortions – Teenager

A 16-year-old Senior Secondary School, SSI student, has revealed she was subjected to sexual violations since age of 10 years by a pastor at the Egbe branch of a popular new generation pentecostal church in Lagos.

The victim, from her hospital bed around Ikotun area of the state, alleged that the suspect in connivance of a medical doctor, had carried out four abortions on her without her consent.

She said her predicament started after she lost her parents six years ago. An uncle she identified simply as George, took her to Delta State from where the suspect, who had just been separated from his wife, took her to Lagos to look after his child, with a promise to train her in school.

That was when he allegedly started a sexual relationship with her in his three-bedroom flat at 6, Dolamo Street, Agodo-Egbe.

The victim told Vanguard that whenever he wanted to have sexual intercourse with her, he would invite her to his bedroom and offer her some drugs after which she would lose her memory.

Her words: “He usually invited me to bring water to his room at night. Thereafter, he would give me some drugs. But when I summoned courage to ask him one day, he said that the drugs was to make me sexually active.