Saturday, March 6

Tag: Economic

”It Slipped out of my Mouth”- Apostle Suleman reacts to viral video of him praying COVID19 shouldn’t end
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”It Slipped out of my Mouth”- Apostle Suleman reacts to viral video of him praying COVID19 shouldn’t end

Apostle Johnson Suleman who is the General Overseer of the Omega Fire Ministries International, Apostle Johnson Suleman, has described as an error in his statement in which he said that COVID19 should not end because he was prospering and has been able to buy his third private jet. In a video that went viral last week, Suleman while preaching at a church program, said “In COVID (pandemic) I bought a jet; the third one. I have three. I was praying for COVID-19 not to end because I was resting. While people were complaining. my wife asked, ‘Can life be this sweet?’ Am I talking to somebody here?'' His statement drew criticisms from Nigerians who condemned him for being excited about the pandemic that has crippled the economic lives of many including the people who attend his chu...
Barcelona ‘Will not Play Coutinho’ to Avoid Paying Liverpool £4.5m
Sport

Barcelona ‘Will not Play Coutinho’ to Avoid Paying Liverpool £4.5m

  Barcelona playmaker, Philippe Coutinho, is set to sit out the rest of the season, so that the club avoids paying a transfer instalment to Liverpool, according to Onze The Spanish giants are neck-deep in debts, amid the economic turmoil caused by the ongoing COVID-19 pandemic. Barca have racked up debts close to £1billion and could be at risk of bankruptcy. Liverpool will be due a £4.5million cheque, if Coutinho plays another seven games this season. The Brazil star is currently injured, but will be available for selection again in March. However, he will reportedly not be considered for selection unless Barca are desperate. It is reported Barca currently owe a whopping £112 million to 19 other teams in various transfer instalments, including a payment of £26...
One Dead, Seven Injured as Suspected Smugglers and Customs Clash in Ogun State
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One Dead, Seven Injured as Suspected Smugglers and Customs Clash in Ogun State

One person was killed while seven others sustained injuries when men of the Nigerian Customs Service clashed with suspected smugglers along Sagamu Interchange/Abeokuta expressway in Ogun State. Three Customs operatives, a military officer and three smugglers were seriously injured while a man said to be a rice trader was killed during the clash which occurred on Tuesday morning. It was gathered that the suspected smugglers who were conveying imported rice to Samagu from Abeokuta ran into Customs operatives from the Federal Operations Unit Ikeja, who intercepted the goods. There was said to be resistance from some hoodlums allegedly working with the suspected smugglers, leading to a crossfire with soldiers who were called for reinforcement . An eyewitness who spoke to the ...
FG Has Started Implementing Economic Sustainability Plan – Osinbajo
Politics

FG Has Started Implementing Economic Sustainability Plan – Osinbajo

The federal government has commenced the execution of the sustainability measures contained in the Economic Sustainability Plan (ESP). The Vice President, Prof. Yemi Osinbajo, stated this at a webinar organised by Lagos Chamber of Commerce and Industry (LCCI) 2020 Presidential Policy Dialogue over the weekend. He said that the ESP was developed with a stimulus package of N2.3 trillion to boost local production, prevent business collapse and provide liquidity across various sectors, especially micro, small and medium enterprises MSMEs. Osinbajo stated: “Nigeria, like all other countries, has been quite seriously impacted in various ways by the COVID-19 pandemic, either as households or businesses, and is clear that both the pandemic and its effects would remain for a while. “The pri...
CBN Bans Forex for Maize Importation
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CBN Bans Forex for Maize Importation

Banks have been directed to stop processing Forms M for the importation of maize with immediate effect. The Central Bank of Nigeria (CBN) who made the order on Monday July 13, said the decision to ban forex for maize importation was made to increase local production, stimulate a rapid economic recovery, safeguard rural livelihoods. The apex bank further stated that the decision will would increase jobs which have been lost as a result of the ongoing COVID-19 pandemic. The statement partly read; “Authorised dealers are hereby directed to discontinue the processing of Forms M for the importation of maize/corn with immediate effect. “Accordingly, all authorised dealers are hereby requested to submit the list of Forms M already registered for the importation of maize/corn on...
Maids Dumped Outside Beirut Embassy
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Maids Dumped Outside Beirut Embassy

Some Ethiopian maids have been dumped outside the country's embassy in Beirut by their employers who can no longer afford to pay their salaries, following the collapse of the Lebanese economy. The maids were left to sleep on the pavement of the country's embassy following the ongoing economic crisis in Lebanon heightened by the Coronavirus pandemic, which also led to Lebanese's currency losing 70% of its value in the past six months. DPA news agency reported that there are about 250,000 migrant workers in Lebanon, many of whom are employed by many middle-class households as domestic staff. Telegraph reported that a large proportion of the domestic staff employed by the middle-class households are from Ethiopia, the rest are from other African and Asian countries. The first gro...
Travel Resumes Across Europe Amid Hopes Of Economic Recovery
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Travel Resumes Across Europe Amid Hopes Of Economic Recovery

France, Germany and Switzerland on Monday allowed travel to resume three months after unprecedented restrictions were imposed in a bid to curb the coronavirus pandemic. France reopened its borders with all EU countries except Spain, where restrictions would remain in place until June 21 in line with a similar decision on the Spanish side. Passengers arriving from Britain would also be asked to self-isolate for 14 days, in line with British restrictions on individuals arriving from France. Borders with non-EU countries remain closed to all but essential travel, except for incoming foreign students who can now head to France. Traffic was reported on a motorway leading to the German-Danish border on Monday, just hours after Copenhagen lifted entry restrictions for German, Norw...
Nigeria Can Turn COVID-19 Pandemic To Economic Victory – Osinbajo
Politics

Nigeria Can Turn COVID-19 Pandemic To Economic Victory – Osinbajo

Vice President Yemi Osinbajo on Thursday stated that Nigeria can turn the coronavirus pandemic into an economic victory. Osinbajo said this at the State House in Abuja after presenting a well prepared post-COVID-19 Economic Recovery Plan to President Muhammadu Buhari. Osinbajo led the Economic Sustainability Committee to submit the report entitled, “Bouncing Back: The Nigerian Economic Sustainability Plan”. The President is expected to approve the recommendations of the report which contains modalities and policies that would strengthen businesses in the country as well as provide jobs for the teeming masses amid the impact of the coronavirus pandemic. Osinbajo said: “We are confident that if the proposals are taken as a whole and implemented conscientiously, Nigeria will a...
House of Representatives Pass Revised 2020 Budget of N10.8trn
News

House of Representatives Pass Revised 2020 Budget of N10.8trn

The House of Representatives has passed the revised 2020 Federal budget of N10.8 trillion from the initial N10.5 trillion submitted by the president. The Executive had written to the lawmakers for a downward review of the budget from N10.6 trillion to N10.5 trillion based on the global economic realities as a result of the Coronavirus pandemic. The lawmakers however increased the budget to N10.8 billion, higher than the initial approved budget. Based on the revised appropriation as passed by the house, statutory transfers also known as the first line charge (a category into which the National Assembly budget falls), was increased from N398 billion (398,505,979,362) to N422 billion (N422,775,979,362). Others are N2.6 trillion for debt service and N2.9 trillion for sinking funds...
FUNAAB, MAPOLY students, others jailed for internet fraud in Ogun
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FUNAAB, MAPOLY students, others jailed for internet fraud in Ogun

The Economic and Financial Crimes Commission, EFCC, said it has secured the conviction of nine internet fraudsters. They were sentenced in Ogun State by two judges of the Federal High Court, Abeokuta. The EFCC, in a statement on Tuesday, said Toheeb Abdulrasheed and Chukwuebuka Isaac Dike were sentenced on Monday by Justice Mohammed Abubakar for their involvement in internet-related fraud. Dike, it was learnt, claimed to be a 100-level Biochemistry student of the Federal University of Agriculture, Abeokuta (FUNAAB); he was sentenced to three months in prison. Also, Abdulrasheed, who bagged four months jail term was said to have claimed to be a graduate of Business Administration from Moshood Abiola Polytechnic, MAPOLY, Abeokuta. Oni got four months jail term; Jemisey...
42 Percent of Nigerians Lost their Jobs Due to Coronavirus – NBS
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42 Percent of Nigerians Lost their Jobs Due to Coronavirus – NBS

The National Bureau of Statistics (NBS) has announced that its recent survey revealed that 42 percent of Nigerians have lost their jobs due to the Coronavirus disease (COVID-19) pandemic. The Bureau said the study was conducted between April to May 2020, during the time when the index case was identified in the country. It was further gathered that the impact of COVID-19 has been most strongly felt in the commerce, service and agriculture sectors. While seventy-nine percent of households surveyed reported that their households’ total income have decreased since mid- March, NBS added that the economic shock experienced by Nigerians after the outbreak of Coronavirus far exceeds shocks experienced between 2017 and 2019. In its report titled "COVID-19 IMPACT MONITORING", the NBS s...
Singapore Warns Of Worst Economic Contractions Since Independence
News

Singapore Warns Of Worst Economic Contractions Since Independence

Singapore’s embattled economy could shrink by as much as seven percent this year, which would be the worst reading since independence, with the government saying Tuesday the coronavirus pandemic had throttled the key export sector, AFP reports. The city-state is seen as a bellwether of the global economy and the historic contraction highlights the extreme pain being wrought on countries by the killer disease. The warning also came hours before Singapore’s deputy prime minister is expected to unveil another stimulus package for the troubled city, which has been crippled by months of lockdowns around the world. The trade ministry’s forecast – which was a downgrade from the 4% contraction predicted in March – came as official data showed the economy shrank 0.7% on-year in the fir...
Eid-el-fitri: Oyetola urges Muslim to celebrate with moderation
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Eid-el-fitri: Oyetola urges Muslim to celebrate with moderation

Osun State Governor, Adegboyega Oyetola, has Muslims to celebrate the 1441 Eid-el-Fitr festival with moderation and in compliance with measures to curb the spread of coronavirus pandemic. This is as the Governor congratulated Muslims in the State and across the world on the successful completion of the 1441 AH Ramadan fast. Oyetola in a statement signed by his Chief Press Secretary, Ismail Omipidan, prayed Almighty Allah to accept all the acts of worship and supplication of the Muslim faithful during the just-concluded holy month, adding that congregational prayer is banned due to the ravaging COVID 19 pandemic. He urged Muslims and indeed all Nigerians to take advantage of this important celebration to pray against the current economic and security situation of the country as wel...
U.S To Add 33 Chinese Firms, Institutions To Economic Blacklist
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U.S To Add 33 Chinese Firms, Institutions To Economic Blacklist

United States is preparing to add 33 Chinese firms and institutions to an economic blacklist, for alleged ties to China’s military, or persecution of Uighurs. Seven companies and two institutions were listed for being “complicit in human rights violations and abuses committed in China’s campaign of repression, mass arbitrary detention, forced labour and high-technology surveillance against Uighurs” and others, the Commerce Department said in a statement. Two dozen other companies, government institutions and commercial organisations were added for supporting procurement of items for use by the Chinese military, the department said in another statement. The blacklisted companies focus on artificial intelligence and facial recognition, markets that US chip companies such as Nvid...
Mother of late Captain of Flying Eagles, Ali Jeje Receives N50,000 Palliative from Sports Minister Sunday Dare
Sport

Mother of late Captain of Flying Eagles, Ali Jeje Receives N50,000 Palliative from Sports Minister Sunday Dare

Minister of Youth Development and Sports, Sunday Dare has donated the sum of N50,000 to the family of the late Ali Jeje, who captained Nigeria at the U-20 level . Ali Jeje (pictured below introducing his teammates) captained Nigeria to win her first Under-20 African Championship in 1983 and also was captain when Nigeria played in her first FIFA tournament at the Under-20 World Championship in 1983. Ali Jeje died of an ailment in Jos some years ago and his family have reportedly been suffering economic hardship since he passed away. On Thursday, the sports minister sent various food items and the sum of fifty thousand naira (N50,000) to the mother of the former Nigeria International. The cash and items were presented to Ali's mother on behalf of the Minister by journali...
‘Players shouldn’t be squeezed like lemons’ – Napoli’s Younes says footballers are taught to ‘stay stupid’
Sport

‘Players shouldn’t be squeezed like lemons’ – Napoli’s Younes says footballers are taught to ‘stay stupid’

The winger says that players must be educated on how to better take care of themselves off the field Napoli winger Amin Younes says that footballers are "helped to stay stupid", with many looking to take advantage of players' finances and lack of economic education. Younes originally broke through at Borussia Monchengladbach, coming through the club's academy before making his senior debut during the 2011-12 campaign. After two more seasons with an irregular first-team role, he moved to Ajax, where he made 100 appearances and scored 17 goals across a three-season stay.
Oil collapse wipes out profits at Total
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Oil collapse wipes out profits at Total

Total said Tuesday its quarterly profit fell by 99 percent because of dropping oil prices and announced it would slash investments in response to the ongoing turmoil in crude markets. The French oil major reported a net profit of $34 million for the first quarter, against $3.1 billion a year earlier. Oil prices suffered a sharp drop in the first quarter due to overproduction and a price war between Saudi Arabia and Russia, falling to $50.1 from $63.1 a year earlier. The sharp fall in oil and gas prices depressed Total’s cash flow from operations by nearly two thirds. Since the end of March, oil has been hit further by a collapse in demand due to the economic impact of the coronavirus, even going negative at one point last month, when sellers had to pay buyers to take oil off th...
APC replies Atiku; Says he’s Part of Obasanjo’s Short-sighted Government
Politics

APC replies Atiku; Says he’s Part of Obasanjo’s Short-sighted Government

The All Progressives Congress (APC) has replied former Vice President Atiku Abubakar, after he suggested diversification of the economy to cushion the effect of the Coronavirus pandemic in the country. In an opinion piece titled “How to Pull Nigeria from the Brink”, the former Presidential candidate of the People's Democratic Party groaned over the country's current economic quagmire and growing foreign debts. Atiku asked the Buhari-led administration to embrace agriculture rather than depending solely on oil. Reacting to the former Vice President's suggestion, the APC in a statement signed by the its National Publicity Secretary, Mallam Lanre Issa-Onilu stated that Atiku was part of former President Olusegun Obasanjo's short-sighted government and never practiced what he is now ...
COVID-19: World Bank supports Nigeria with N31.2bn
Health

COVID-19: World Bank supports Nigeria with N31.2bn

THE World Bank has announced N31.2 billion ($82 million) to support Nigeria’s fight against the COVID-19 pandemic. Announcing the support in a statement, the bank said it is moving quickly to provide fast and flexible support to help Nigeria and other African countries in mitigating the impact of the COVID-19 pandemic by providing direct and long-term financial support over the next 15 months. It said: “In Nigeria, the World Bank has already made $82 million available for immediate support in strengthening the public health response through the Regional Disease Surveillance Systems Enhancement Project, REDISSE. “In addition, the World Bank has been asked to provide a multi-pronged package of support over the next six months to strengthen the country’s preparedness for the immediate h...
COVID-19: South West Muslims demand adequate protection of health workers, others
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COVID-19: South West Muslims demand adequate protection of health workers, others

Muslims in the South West region, under the banner of Muslim Ummah of South West Nigeria (MUSWEN) have appealed to President Muhammadu Buhari, state governors and other stakeholders to provide adequate protection for health workers and other essential service providers involved in the Covid-19 battle. MUSWEN made the appeal via a statement signed by its Executive Secretary/Chief Executive Officer, Professor Muslih Tayo Yahya, a copy of which was made available to DAILY POST in Ibadan, the Oyo state capital on Thursday. Yahya, a retired Professor and former Director, Academic Planning and Administration at the University of Jos, Plateau State in the statement issued on behalf of Muslims in the region, declared that they were in support and working in tandem with all measures recommend...
Coronavirus: We’ve Started Immediate Cash Transfer to Poorest Households, says FG
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Coronavirus: We’ve Started Immediate Cash Transfer to Poorest Households, says FG

Minister of humanitarian affairs, disaster management and social development, Sadiya Farouq, says the Federal government has begun cash transfer to the poorest households in the country to cushion the economic impact of the Coronavirus pandemic. Farouk announced this at a press conference in Abuja. She said her ministry has commenced advance payment of conditional cash transfer to the poorest households in the country. She however did not disclose the amount of cash that is being transferred to the poor. “In Mr. President’s speech, paragraph 54, he directed that the conditional cash transfer should be given in advance of two months. This we have also done. We have directed immediate cash transfer to the poorest and most vulnerable households in the country. “Because of this CO...
COVID-19: Tinubu Asks FG To Suspend VAT, Seeks United Nigeria
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COVID-19: Tinubu Asks FG To Suspend VAT, Seeks United Nigeria

The National Leader of the All Progressives Congress (APC), Mr Bola Tinubu, has called for the immediate suspension of Value Added Tax (VAT), and the reduction of tax in the country. He made the call as part of measures the Federal Government can apply to mitigate the economic impact of the coronavirus (COVID-19) outbreak on citizens. In a message on his 68th birthday, Tinubu said the government may have to take tougher measures to curb the spread of the disease such as imposing lockdowns in Nigeria, as done by most countries battling the scourge. He believes the immediate suspension of VAT will help lower import costs and protect against shortages. The former governor of Lagos State also advised the government to consider providing stipends for vulnerable Nigerians who would b...
Brace Up, the Economic Impact of The #CoronaVirusPandemic will be Severe on our Country – Oby Ezekwesili Tells Nigerians
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Brace Up, the Economic Impact of The #CoronaVirusPandemic will be Severe on our Country – Oby Ezekwesili Tells Nigerians

Former Minister of Education, Oby Ezekwesili has asked Nigerians to brace up and begin to practice financial prudence as the impact of the Coronavirus pandemic 'will be severe in Nigeria.' Taking to her twitter handle, the former Vice President of the World Bank, wrote ''Brace up, Fellow Citizens. Brace up. The economic impact of the #CoronaVirusPandemic will be severe on our country. But do not despair. Make sound personal and household financial choices. Rearrange and realign personal and family Priorities immediately. Keep the Faith'.'  
Landmark Projects, Policies that have Redefined Governance in Ogun State in 10months
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Landmark Projects, Policies that have Redefined Governance in Ogun State in 10months

So much has been achieved in Ogun State in the last 10months of the administration of Governor Dapo Abiodun and so much, especially in the area of infrastructural renewal, security, health, education and Information and Communications Technology among others would be achieved in the months ahead. The foundations have been laid. Last May, when Governor Abiodun was inaugurated, he espoused his ‘Building the Future Together’ agenda for the state. Judging by the indices so far, he has not deviated or dithered, rather, he seems to be on a supersonic speed to pack many achievements into his first year in office. On a recent media tour of some of his projects, we discovered that the governor is not just an ideas man; he is a pragmatist and hard-worker who is wholly committed to entre...
Act Now to Protect the Nigerian People From Coronavirus – Atiku Tells FG
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Act Now to Protect the Nigerian People From Coronavirus – Atiku Tells FG

Atiku Abubakar, former Vice President, has asked the Nigerian government to act now and take patriotic steps to protect Nigerians against the Coronavirus pandemic. In a statement released, Atiku said steps such as restricting flights from countries with Coronavirus outbreak, should be taken immediately. Read the statement below Two weeks ago, when Nigeria recorded its index case of the coronavirus, I had cause to urge the Federal Government to restrict flights from nations with a high prevalence of the Coronavirus plague. This is in line with global best practices. This is a patriotic call on the Federal Government of Nigeria to take every reasonable step to protect the citizens of Nigeria, by temporarily suspending flights to and from such countries, until we build up our ...
South Africa President Appoints Okonjo Iweala As Head Of Economic Advisory Council.
News

South Africa President Appoints Okonjo Iweala As Head Of Economic Advisory Council.

The South African President, Cyril Ramaphosa has appointed Nigeria’s Ngozi Okonjo-Iweala as the Head of the country’s Economic Advisory Council. Also, Okonjo Iweala reacting to the new wrote: “With President Ramaphosa, members of cabinet, and members of the Presidential Economic Advisory Council in Pretoria discussing sources of growth for the South African economy and win-win economic interactions with the continent.
Ngozi Okonjo-Iweala Appointed Member of South Africa’s Presidential Economic Council
Politics

Ngozi Okonjo-Iweala Appointed Member of South Africa’s Presidential Economic Council

Former Minister of Finance, Ngozi Okonjo-Iweala, has been appointed as a member South Africa’s presidential economic advisory council. The council which is chaired by Cyril Ramaphosa, the South African president, has other members in the council.  As part of their functions, members of the council are expected to “ensure greater coherence and consistency in the implementation of economic policy and ensure that government and society in general is better equipped to respond to changing economic circumstances”. Okonjo-Iweala shared photos from the meeting on Twitter, captioned it “With President Ramaphosa, members of cabinet, and members of the Presidential Economic Advisory Council in Pretoria discussing sources of growth for the South African economy and win-win economic i...
PDP Blasts Buhari for First Cornonavirus Case in Nigeria
Politics

PDP Blasts Buhari for First Cornonavirus Case in Nigeria

The PDP has blasted the Buhari-led government over the first confirmed case of Coronavirus in Nigeria. The party in a statement released by its, said the infection is as a result of the negligence that has characterised the Buhari administration.The party asked Nigerians to hold the government responsible should any national calamity arose from COVID-19. Read the statement below: Corona Virus: PDP Berates Buhari For Negligence...Seeks Concerted Effort, Adoption of Ebola Intervention Strategy The Peoples Democratic Party (PDP) has berated the Buhari Presidency for its negligence and laidback attitude to governance and the welfare of Nigerians leading to the avoidable entrance of the deadly corona virus into our dear country. The party says it was evident that the Buhari P...
Donald Trump Slams Obama for Trying to take Credit’ for US Economic Boom
Politics

Donald Trump Slams Obama for Trying to take Credit’ for US Economic Boom

Donald Trump blasted his predecessor Barack Obama for claiming that he's responsible for creating legislation that caused economic booms in both of their administrations. On Monday, Obama tweeted a photo of what appeared to be his signature at the foot of the Recovery Act, a stimulus package passed in February 2009. "Eleven years ago today, near the bottom of the worst recession in generations, I signed the Recovery Act, paving the way for more than a decade of economic growth and the longest streak of job creation in American history," Barack Obama wrote.   And Trump took to Twitter to slam Obama's claim as a "con job." He tweeted: "Did you hear the latest con job? President Obama is now trying to take credit for the Economic Boom taking place under the Trump A...
Amotekun: Our Gods will Mysteriously Kill Anyone Opposing Southwest Security Outfit – Gani Adams to Miyetti Allah, Others
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Amotekun: Our Gods will Mysteriously Kill Anyone Opposing Southwest Security Outfit – Gani Adams to Miyetti Allah, Others

The Are Ona kakanfo of Yorubaland, Gani Adams, has warned against opposing the Southwest security outfit, Amotekun. Adams warned that anyone who opposes Amotekun would die “mysteriously” by the gods of the land. Speaking at a South-West Security Stakeholders Group summit in Osogbo, Osun State on Friday, Adams warned that people of Southwest would not tolerate any form of threat over its decision to ensure the security of the region. He said: “We want everyone out there to know that the people of this region would not tolerate any form of threats from any individual or groups in relation to the issues of insecurity and the birth of Amotekun. “As you have seen events unfolding in recent times that the people of the southwest are behind the governors on the Amotekun project. Who...
60,000 Ghost Workers in FG Payroll Uncovered by IPPIS – Minister of Communication and Digital Economy, Isa Ali Pantami
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60,000 Ghost Workers in FG Payroll Uncovered by IPPIS – Minister of Communication and Digital Economy, Isa Ali Pantami

The Minister of Communication and Digital Economy,  Dr. Isa Ali Pantami has announced that the implementation of the Integrated Payroll and Personnel Information System (IPPIS) has uncovered 60,000 ghost workers in Federal government payroll. Pantami disclosed this at the 29th convocation lecture of the Federal University of Technology, Minna in Niger state titled ‘Datification of social economic and security issues in producing and using public and private data in Nigeria.' The Minister who expressed determination of the federal government to set the record straight on corruption in Nigeria, further revealed that N24 billion has been saved since the government began the implementation of the Treasury Single Account (TSA). He also stated that the IPPIS and TSA were introduced ...
Buhari is Aware and in Charge of Everything – Femi Adesina
Politics

Buhari is Aware and in Charge of Everything – Femi Adesina

President Buhari's media aide, Femi Adesina has stated his principal's comment of being "surprised" over the rising insecurity across the country while receiving some citizens of Niger state on Monday January 27, was misinterpreted. Femi Adesina in his statement stated that President Buhari is fully aware and in charge of the security situation in the country. According to the Presidential spokesperson, the Nigerian leader only meant he was surprised with the emergence of banditry in the north-west which is a region “almost homogeneous, made up of Hausa-Fulani and largely Muslim”. The statement read in parts; “The reportage of the statement above was slanted to mean that President Buhari said he was unaware of the security challenges in some parts of the country. Far from i...
Osinbajo Speaks on Nigeria after Civil war
Politics

Osinbajo Speaks on Nigeria after Civil war

Vice President Prof Yemi Osinbajo has said all Nigerians, despite ethnicities, must join hands together to build a strong nation where everyone can legitimately aspire to the limits of their dreams and visions in all areas of national life. According to his Spokesman Laolu Akand, Osinbajo stated this on Monday in his address at a special Town Hall Meeting at the National War Museum in Umuahia, Abia State, commemorating the 50th anniversary of the end of the Civil War. The event was hosted by the Civil War Museum in Umuahia under the National Commission for Museums and Monuments (NCMM) and the Ken Nnamani Centre for Leadership and Development (KNCLD). In his address, the Vice President urged young Nigerians to shun ethnic prejudices and unite in building a better Nigeria. “The...
British Prime Minister, African Leaders Urge Investors To Accelerate Economic Role In Africa
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British Prime Minister, African Leaders Urge Investors To Accelerate Economic Role In Africa

UK companies must leap at the chance to deepen economic ties with Africa, a continent with unmatched investment opportunities, several African leaders said at a high-level panel. At an oversubscribed opening ceremony for the 2020 UK-Africa Investment Summit, Monday, attended by dignitaries and delegates from 16 African countries, including President El Sisi of Egypt, British Prime Minister Boris Johnson made the case for bigger investments in Africa and called for increased and renewed partnership between the UK and Africa. Referring to Africa as a booming continent with “staggering levels of growth,” Prime Minister Johnson said: “Look around the world today and you will swiftly see that the UK is not only the obvious partner of choice, we’re also very much the partner of today, of t...
There’s no Progress in the Fight Against Boko Haram – EU
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There’s no Progress in the Fight Against Boko Haram – EU

European parliament, the legislative branch of the European Union has stated that there's been no progress in the fight against Boko Haram. In its resolution on January 16, 2020, the group of 28 countries that operates as a cohesive economic and political block lamented over the deteriorating security situation in Nigeria. The group which decried an alleged ill-treatment of children detained in military facilities, reminded the Nigerian government of its obligation to protect the rights of children and to ensure protection and provide care to those affected by terrorism or conflict. It also asked the Nigerian government to allow UN's access to its military detention facilities and to also sign a formal handover protocol to ensure that children detained by the military are quic...
Why National Assembly, PMB must Watch Nigeria’s Debt Profile
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Why National Assembly, PMB must Watch Nigeria’s Debt Profile

In December 1983, Major General Muhammadu Buhari toppled a democratically elected government through a military coup by saying that the civilian government he overthrew was hopelessly corrupt. “As a result of our inability to cultivate financial discipline and prudent management of the economy, we have come to depend largely on internal and external borrowing to execute government projects with attendant domestic pressure and soaring external debts, thus aggravating the propensity of the outgoing civilian administration to mismanage our financial resources. Nigeria was already condemned perpetually with the twin problem of heavy budget deficits and weak balance of payments position, with the prospect of building a virile and viable economy. However, in the case of Nigeria, its impa...
Trump Finally Signs ‘Phase One’ of Trade Deal with China after 18 months of Trade War
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Trump Finally Signs ‘Phase One’ of Trade Deal with China after 18 months of Trade War

US president Donald Trump on Wednesday signed the first phase of a trade deal with China, skyrocketing US stock markets in the process. Trump, who made placing tariffs on China for manipulating their currency, stealing intellectual property and cheating the US on Trade finally got his wish of a new trade deal with China after almost two years long trade war that has hurt U.S. farmers and created a drag on global economic growth. Trump who signed the deal alongside Chinese Vice Premier Liu He in the White House's East Room Wednesday morning said tariffs on Chinese goods will remain until a "Phase Two" agreement is signed. "We're leaving tariffs on which, people were shocked, but it's great," the president said. "But I will agree to take those tariffs off if we are able t...
World Bank Lists 40 Economies with Reforms on Women Empowerment
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World Bank Lists 40 Economies with Reforms on Women Empowerment

The regulatory environment for women’s economic participation has improved over the past two years, but Nigeria is missing mention among 40 countries that enacted 62 reforms that will help women. The women– half of the world’s population, would need the reforms to realise their potential and contribute to economic growth and development, a new World Bank study has said. Still, the results are uneven, as women in many countries have only a fraction of the legal rights of men, holding back their economic and social development. The study, “Women Business and the Law (WBL) 2020”, measures 190 economies, tracking how laws affect women at different stages in their working lives and focusing on those laws applicable in the main business city. It covers reforms in eight areas that a...
News

300 Workers Resigned from Adefarasin’s House on the Rock Church

At least 300 members of Pastor Paul Adefarasin’s House on the Rock Church have reportedly quit in search of greener pastures. According to Opera News on Wednesday, the pastor delivered the news himself in his sermon on the first Sunday of the New Year, held at The Rock Cathedral in Lekki, Lagos. The cleric announced to the congregation that about 300 workers of the church have so far tendered their resignation letters. According to the Pastor, the members resigned because of the present economic challenges in Nigeria. He said most of those who quit the assembly are relocating to Canada. During the sermon, Pastor Paul was quoted to have said to his vibrant multi-ethnic congregation: “Stop blaming Government and political parties, the blame game is the first symptom of ...
Number Of Nigerians Going To US Reduce Sharply
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Number Of Nigerians Going To US Reduce Sharply

Data from the US travel and tourism office shows a 21 per cent drop in the number of Nigerians travelling to the country, the largest global drop-off in visitors to the US. As of 2019 October, 34,000 fewer Nigerians travelled to the US compared to the previous year. After a sustained period of growth between 2011 and 2015, the number of Nigerian visitors to the US started to plateau in 2016 until the big drop-off last year. The dip in Nigerian visitors to the US followed a string of visa clampdown measures by the Trump administration. After indefinitely suspending its visa interview waiver for Nigerian applicants (the waiver allowed frequent travellers renew their visa without going through in-person interviews each time), the Trump administration also raised visa application ...
28 people dead, 20 missing after super typhoon made landfall in China
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28 people dead, 20 missing after super typhoon made landfall in China

A total of 28 people died and 20 remain missing after super typhoon Lekima made landfall in east China’s Zhejiang Province on Saturday, local authorities said on Sunday morning. According to Xinhua, most of the deaths occurred in Yongjia County, administered by Wenzhou City, where torrential downpours caused a landslide that blocked rivers. The barrier lake bursted and flooded people away. Nearly 1.08 million people have been evacuated to safe places, and close to 5 million people in Zhejiang were affected, said the provincial flood control headquarters.   Lekima, the ninth typhoon of this year, landed around 1:45 a.m. Saturday in Zhejiang, bringing heavy rainstorms and triggering flash floods. In Zhejiang, the typhoon damaged more than 173,000 hectares of crops and 34,000 hous...
57 People  Get Burnt While Scooping Fuel from a Fallen Tanker in Tanzania
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57 People Get Burnt While Scooping Fuel from a Fallen Tanker in Tanzania

Police in Tanzania have comfirmed that at least 57 people have been burned to death after a fuel tanker exploded in the eastern town of Morogoro. Regional police commissioner Steven Kabwe told the local Azam TV that 57 bodies have been recovered and added that many others who suffered burns are being treated. Witnesses in Morogoro, which lies about 120 miles (200 kilometers) from Tanzania’s economic hub of Dar es Salaam, told The Associated Press that scores of people had gathered around the fuel tanker after it was involved in an accident trying to siphon fuel when the tanker burst into flames.
Nine suspected internet fraudsters arrested in Edo
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Nine suspected internet fraudsters arrested in Edo

Operatives of the Economic and Financial Crimes Commission, EFCC, Benin Zonal Office on July 23, 2019 arrested nine suspected internet fraudsters at their various hideouts in Benin City, Edo State. They were arrested sequel to intelligence gathering which alleged that they were involved in the fraudulent internet activity known as ‘cat-fishing’. According to a statement released by the agency, the suspects who are between the ages of 20 and 35 are: Amafin Collins, Edafitite Abel, Usianene Elizojie, Ojiefor Marvelus, Uduehi Osumor, Geigi Emmanuel Ose, Osaro Osakpolor, Francis Omoiegbe and Onuoba Prince Nonso. Items recovered from them at the point of arrest include luxury cars, laptop computers, mobile phones, flash drives and internet modems. They have made useful statement...
Iran arrests and sentences suspected US’ CIA spies to death
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Iran arrests and sentences suspected US’ CIA spies to death

The stand-off between Iran and the US government has gotten yet another twist, as the Middle East nation has announced that it broke a CIA spying ring and arrested 17 suspects.   An intelligence official claimed that none of the 17 suspects who allegedly had "sophisticated training", had succeeded in their sabotage missions.   A statement read on state television said: “The identified spies were employed in sensitive and vital private sector centres in the economic, nuclear, infrastructural, military and cyber areas... where they collected classified information.”   Also commenting on the arrest of the CIA agents, the head of counter-intelligence at the Iranian intelligence ministry told reporters at Tehran that some of the CIA spies have been sentenced to deat...
Ministerial List Delay: Defence, Health, Education Worst Hit
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Ministerial List Delay: Defence, Health, Education Worst Hit

The inability of President Muhammadu Buhari to form his cabinet 45 days after commencing his second term in office appears to have slowed down activities in most of the federal ministries at the Federal Capital Territory (FCT), Abuja. Buhari had been sworn-in for the second term on May 29 after being declared the winner of the February 23 presidential election. It took about six months for the President to appoint his ministers at the commencement of his first term in 2015 with many Nigerians voicing concerns about the implications for a then-ailing economy that required urgent attention by a federal cabinet to fix. The concerns about the need for a cabinet to address economic and security issues besetting the nation are no less on the front burner, as Senate President Ahmad Lawan...
Patience Jonathan Forfeits $8.4 Million, N9.2 Billion To Fed Govt
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Patience Jonathan Forfeits $8.4 Million, N9.2 Billion To Fed Govt

The Federal High Court in Lagos on Monday ordered the forfeiture of ex-First Lady Dame Patience Jonathan’s $8.4 million and N9.2 billion to the Federal Government, The Nation reports. Justice Mojisola Olatoregun held that the money is reasonably suspected to be proceeds of crime. She granted an application by the Economic and Financial Crimes Commission (EFCC) that the money should be permanently forfeited. The judge held that Mrs Jonathan could not prove that the money was legitimately earned. Details shortly...
EFCC to arraign Bukola Saraki for alleged money laundering and looting of Kwara State coffers while he was governor between 2003 and 2011
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EFCC to arraign Bukola Saraki for alleged money laundering and looting of Kwara State coffers while he was governor between 2003 and 2011

The Economic and Financial Crimes Commission says it has plans to arraign the former Senate President, Bukola Saraki, for alleged money laundering and looting of the Kwara State coffers during his administration of the state between 2003 and 2011.   According to reports, the plan to earlier arraign Saraki was frustrated by the restraining order granted against the EFCC by Justice Taiwo Taiwo of the Federal High Court, Abuja.   Saraki had filed a fundamental human rights suit before Justice Taiwo who granted an ex parte order restraining the commission and five other agencies of the Federal Government from continuing its investigations of corruption allegations against him, but a senior EFCC operative revealed that “Saraki’s arraignment cannot be stopped by any court o...
Lagos Debt Hits N1trn As List Of High, Low Indebted Nigerian States Released
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Lagos Debt Hits N1trn As List Of High, Low Indebted Nigerian States Released

Lagos State is number one among the highly indebted states in Nigeria in both external and domestic debts with N1.043 trillion in 2018, the latest report by the Economic Confidential has shown. While the external debt stock of Lagos amounts to N513.514 billion, the local debt stock settled at N530.243 billion. In the publication’s Annual High Indebted States (AHIS) report on 2018 External and Domestic Debts, the amount owed by Lagos represents about 20 percent of the total debts owed by the 36 states and the Federal Capital Territory (FCT) which is N5.376 trillion in 2018. Other highly indebted states for the external debt stock included Edo, Kaduna, Cross River and Bauchi with $276.25m (N99.45bn), $227.25m (N81.81bn), $188.77m (N67.95bn) and $133.93m (N48.21bn) respectively. A...
Akwa Ibom Governor, Emmanuel Loses Against EFCC
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Akwa Ibom Governor, Emmanuel Loses Against EFCC

Justice Rilwan Aikawa of the Federal High Court sitting in Ikoyi, Lagos, on Thursday, dismissed an application filed by Akwa Ibom State Governor, Emmanuel Udom, seeking to quash the entire charge preferred against Paul Usoro, SAN, President, Nigerian Bar Association, NBA, by the Economic and Financial Crimes Commission, EFCC. Usoro was charged alongside Udom and others in a case of money laundering to the tune of N1.4 billion, belonging to the Akwa Ibom State government. The NBA President was first arraigned before Justice Muslim Hassan of the same court on December 18, 2018. He was later re-arraigned before Justice Aikawa on a 10- count charge. The Judge further held that the applicant could not apply to the court to quash the charge or seek fair hearing as prayed in the appli...
President Buhari Signs 2019 Budget Into Law
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President Buhari Signs 2019 Budget Into Law

President Muhammadu Buhari on Monday in Abuja signed the 2019 Appropriation bill of N8.92 trillion into law. The president had submitted the 2019 budget of N8.83trillion to the Senate but was increased by about N10billion by the Upper House, bringing the amount to N8.92trillion. The News Agency of Nigeria (NAN) reports that the dignitaries who witnessed the signing of the budget, which took place at the mini-conference hall of the president, included the Senate President Bukola Saraki and the Speaker of the House of Representatives,Yakubu Dogara. The Secretary to the Government of the Federation, Boss Mustapha and the Chief of Staff to the President, Malam Abba Kyari also witnessed the signing of the budget. Others at the event were the Ministers of Finance (Zainab Ahmed), Budg...