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obamafriedchicken-480“Obama Fried Chicken” Will Keep Its Name
The man who caused a stir by calling his fast-food restaurant Obama Fried Chicken no longer plans to change the name, despite a growing outcry from protesters who say the name conjures up disturbing racial stereotypes. On Monday, about 20 people, including the Rev. Al Sharpton, protested outside the restaurant, at Rutland Road and Rockaway Parkway in Brownsville, Brooklyn. “He wasn’t a man of his word,” one of the protest organizers, Kevin McCall, said Tuesday, referring to the restaurant’s owner. “He didn’t keep his commitment of having this sign down. This is very offensive to African-Americans.” (Continue Reading…)

FBI Raids in Minneapolis Aimed at Africa Money Transfers
Federal agents searched three money-transfer businesses in Minneapolis on Wednesday, carrying away boxes of documents and copying computer hard drives for details of transactions between the U.S. and several African nations. Agents searched Mustaqbal Express, also known as North American Money Transfer Inc.; Quran Express; and Aaran Financial. FBI spokesman E.K. Wilson confirmed the searches but wouldn’t elaborate on the reason. A copy of a search warrant executed at Mustaqbal Express and obtained by The Associated Press said authorities were looking for documents, books, records, ledgers and other materials “relating to the transfer of money, currency or funds” to Somalia, Eritrea, Kenya, Sudan, Ethiopia, Djibouti and the United Arab Emirates. It also sought documents on ownership and management of the business and lists of clients. It covered materials from January 2007 to the present. (Continue Reading…)

Nigeria Central Bank Cuts Benchmark Lending Rate
Nigeria’s Central Bank has cut its benchmark lending rate to eight percent from 9.75 percent and announced measures aimed at boosting liquidity in the market, a statement said. The Bank’s Monetary Policy Committee (MPC) also decided to reduce the liquidity ratio to 25 percent from 30 percent and the Cash Reserve Requirement to one percent from two percent, both with effect from April 14, 2009. The Cash Reserve Requirement is the proportion of shareholders’ funds it is mandatory for banks to keep with the Central Bank. “The MPC observed the relative tight monetary conditions in the economy and hence the need for monetary easing,” Central Bank Governor Soludo said. (Continue Reading…)

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