Africa Business News: Recent Episodes
GSMC Podcast Network
Daily news insights and analysis of the Africa Business Landscape, covering from emerging startups to macroeconomics from across the 55 Africa Union member states com.
BRICS leaders at a summit took aim at US President Donald Trump’s “indiscriminate” import tariffs and recent Israeli-US strikes on Iran. The 11 emerging nations — including Brazil, Russia, India, China, and South Africa — account for about half the world’s population and 40 per cent of global economic output. BRICS members says the tariffs risked hurting the global economy, according to a summit joint statement. Trump says any country aligning themselves with the anti-American policies of BRICS will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy. Trump has warned he will impose unilateral levies on partners unless they reach “deals” by August 1.
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Elon Musk says he is launching a new political party, weeks after dramatically falling out with US President Donald Trump. The billionaire announced on his social media platform X that he had set up the America Party, billing it as a challenge to the Republican and Democratic two-party system. The Federal Electoral Commission had not published documents indicating the party had been formally registered.
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The Namibian government has announced a temporary ban on state funerals amid criticism over the rising costs of these burials. Only President Netumbo Nandi-Ndaitwah has the power to exempt funerals from the moratorium, the government said. Minister of Information and Communication Technology Emma Theofelus says the moratorium would last until April 2026, while a review committee looks into the "criteria and processes associated with bestowing official funerals". Ms Theofelus added that a committee consisting of "no more than seven members" would be established to lead the review. The government has not said whether the decision was related to mounting criticism of the increasing costs of the numerous state funerals as reported by local media.
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The Nigerian Upstream Petroleum Regulatory Commission has generated a total sum of N28.11bn in miscellaneous oil revenue tied to licensing fees and renewals within the first five months of 2025. The fund collected by the commission between January and May 2025 was remitted fully to government coffers. This comes amidst the scramble by over 40 Petroleum Prospecting Licence holders to renew their exploration permits. The commission described this category of income as revenue generated from granting approvals for various types of licences and permits. Still, it did not disclose the specific amounts earned from each source.
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The Nigerian Communications Commission, the regulator for telecom firms and internet service providers, has said it will introduce a portal for tower companies to report downtimes on their network facilities. It has also given them an August deadline to improve their infrastructure or face fines. The NCC says Nigeria experiences an average of two network outages daily, with a total of 349 major outages recorded across the country between January and June 2025. The NCC wants every company involved in the network connectivity value chain to be held accountable. When your internet connection frustrates you next time, it’s not enough to blame MTN, Airtel, Glo, or 9mobile.
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The Federal Government, through the Nigeria Data Protection Commission, has imposed a fine of N766million on Multichoice Nigeria for breaching the Nigeria Data Protection Act, citing violations of subscribers’ privacy rights and the unlawful transfer of citizens’ personal data across borders. The Head of Legal, Enforcement and Regulations at NDPC, Babatunde Bamigboye, says the sanction followed an investigation launched in the second quarter of 2024 after allegations surfaced regarding the company’s intrusive data processing activities. He says the probe uncovered multiple breaches, including the unauthorised processing of personal data belonging to both subscribers and individuals who were not Multichoice customers.
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President Donald Trump says a group of very wealthy people is set to buy short-form video app TikTok. Trump declined to share more details about the buyers, saying only that he would reveal their identities in two weeks Trump has repeatedly delayed a bill forcing owner ByteDance to sell the app or see it banned in the United States. In January, he said his “initial thought” was to create “a joint venture between the current owners and/or new owners whereby the U.S. gets a 50% ownership.” He’s also says he was open to allies Larry Ellison or Elon Musk buying the app, although Musk seems like a less likely candidate now.
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Ethiopia’s central bank has issued a long-awaited directive allowing foreign banks and investors to formally enter its financial sector, marking a major step in the country’s broader economic liberalisation programme. Analysts say the move could inject new capital, boost competition, and accelerate the development of a sector that remains heavily dominated by the state-owned Commercial Bank of Ethiopia. The new licencing rules were published by the National Bank of Ethiopia, will provide a clear regulatory path for foreign banks to set up subsidiaries, open branches, or establish representative offices in the country. Foreign strategic investors can also acquire stakes in existing local banks, with individual ownership capped at 30%, and total foreign ownership capped at 40%.
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Rwanda and the Democratic Republic of Congo have signed a peace deal in Washington aimed at ending decades of devastating conflict between the two neighbours, and potentially granting the US lucrative mineral access. The deal demands the "disengagement, disarmament and conditional integration" of armed groups fighting in eastern DR Congo. US President Donald Trump says the violence and destruction comes to an end, and the entire region begins a new chapter of hope and opportunity
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The National Health Insurance Authority has sanctioned 49 healthcare facilities and 47 Health Maintenance Organisations in 2024 over violations of its operational guidelines, the agency said on Sunday. Acting Director of Media and Public Relations, Emmanuel Ononokpono, noted that the key issues recorded in the complaints against HCFs were unavailability of medicines, denial of services, out-of-pocket payment for covered services and non-provision of payment narrations. He says the issues were related to delays or denials of referral authorisation codes, delays in settlement of agreed reconciled payments, refusal to monitor quality assurance in facilities, etc.
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Governor Caleb Mutfwang of Plateau State has described Nigeria’s lingering insecurity as a problem created and sustained by the country’s elite. Mutfwang said the elite have contributed to deepening communal divisions and must take responsibility for reversing the trend. He says when the elite conspires to lead the people in the wrong direction there will continue to be perennial crisis He noted that while the “poisoning of minds” may often start at the community level, the elite have the power to halt such narratives—if they choose to. Mutfwang urged Nigeria’s elite to take greater responsibility in promoting unity and peaceful coexistence.
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Nigeria's President Bola Tinubu has signed four finance bills into law in a set of major reforms aimed at restructuring the tax system in Africa's most populous nation. The government says the new laws will simplify revenue collection, reduce the tax burden on some individuals and businesses, while also helping to raise much-needed government income revenue by making collection more efficient. He says the tax reforms will protect low-income households and support workers by expanding their disposable income. Andersen Nigeria, a tax and business advisory firm says for people earning up to 1m naira a year, a rent relief of 200,000 naira will be applied, effectively reducing their taxable income to 800,000 naira which will means they will no longer pay income tax.
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Iran threatened US bases in the Middle East after massive air strikes that Washington says had destroyed Tehran’s nuclear program, though some officials cautioned that the extent of damage was unclear. Ali Akbar Velayati, an advisor to Iran’s supreme leader Ayatollah Ali Khamenei, says bases used by US forces could be attacked in retaliation. Iranian Permanent Representative to the UN Amir Saeid Iravani says any country in the region or elsewhere that is used by American forces to strike Iran will be considered a legitimate target for our armed forces. President Donald Trump urged Iran to end the conflict after he launched surprise bunker buster strikes on a key underground uranium enrichment site at Fordo, along with nuclear facilities in Isfahan and Natanz.
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US Secretary of State Marco Rubio has called on China to prevent Iran from closing the Strait of Hormuz, one of the world's most important shipping routes. Oil prices rose following the US attack on Iranian nuclear sites, with the price of the benchmark Brent crude reaching its highest level in five months. Marco Rubio says If Iran closes the Straits, it will be economic suicide for all countries Around 20% of the world's oil passes through the Strait of Hormuz, with major oil and gas producers in the Middle East using the waterway to transport energy from the region. Any attempt to disrupt operations in the Strait could could send global oil prices skyrocketing. Head of Energy Research at MST Financial, Saul Kavonic, says the US is now positioned with an overwhelming defence posture in the region to be prepared for any Iran counter attacks.
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Officials from Rwanda and the Democratic Republic of Congo have reached a draft agreement aimed at ending decades of conflict. The breakthrough, mediated by the US and Qatar, provides for the "disengagement, disarmament and conditional integration" of armed groups fighting in eastern DR Congo. It also includes provisions for a joint security mechanism to prevent future flare-ups. The peace deal is expected to be formally signed next week. The US State Department says technical teams had initialled the draft text ahead of a formal signing ceremony next Friday to be witnessed by US Secretary of State Marco Rubio.
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The Central Bank of Egypt has dropped a new rule for anyone running a digital payment business in Egyptwhether domestic or foreign company. The regulations outline the process for obtaining approval and licenses; set the rules for amending licenses; and specify the fees for inspections and supervision. The central bank says everyone must apply for a licence while existing companies have just 12 months to comply—they can keep running while the CBE decides if they meet the rules. Foreign companies must be licensed in their home countries.
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The Federal Government has pledged full support to a $400 million Foreign Direct Investment plan to build Africa’s largest, rare earth and critical minerals plant in Nasarawa State, potentially creating over 10,000 jobs nationwide. Minister of Solid Minerals Development, Dele Alake, says that Hasetins hopes to add 12,000 metric tonnes to its current 6,000 metric tonnes installed capacity as preparations for the forthcoming groundbreaking of the additional facility gathers momentum. Alake says the establishment of the plant would promote skills transfer and boost the contributions of the solid minerals sector to the economy noting that it represents a significant milestone in efforts to spur investor confidence in the mining sector,
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President Bola Tinubu has directed security agencies to redouble their efforts in defeating the remnants of Boko Haram insurgents in the country. The President described the attack as an act of cowardice and commiserated with the Borno State Government and the people of the state over the incident. He also directed the National Emergency Management Agency to support the survivors. He urged security agencies to double their efforts in routing remnants of the Boko Haram insurgents who resort to attacks on soft targets as a diversionary tactic. President Tinubu stressed the importance of workplace safety measures and tasked relevant government institutions with investigating the incident.
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US President Donald Trump has ordered an expansion of the detention and deportation of migrants across the country as protests against his policies continue. Trump called on federal agencies to "do all in their power" to deliver "the single largest mass deportation programme in history", naming Los Angeles, Chicago and New York as specific targets. These cities are among the many where large-scale protests have broken out against raids on undocumented migrants since 6 June. Trump has faced legal challenges and criticism for his response to the protests - particularly his deployment of the military to quell the demonstrations.
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New York state lawmakers passed a bill that aims to prevent frontier AI models from OpenAI, Google, and Anthropic from contributing to disaster scenarios, including the death or injury of more than 100 people, or more than $1 billion in damages. The passage of the RAISE Act represents a win for the AI safety movement, which has lost ground in recent years as Silicon Valley and the Trump administration have prioritized speed and innovation. Safety advocates including Nobel laureate Geoffrey Hinton and AI research pioneer Yoshua Bengio have championed the RAISE Act. If passed into law, the bill would establish America’s first set of legally mandated transparency standards for frontier AI labs.
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The head of the UN peacekeeping mission in the Democratic Republic of Congo has held talks with Rwanda-backed rebels about protecting civilians in areas under their control in the east. Bintou Keita, the UN secretary general's special representative, says the rebels spoke of wanting a peaceful solution to the crisis, which escalated in January with their capture of the major city of Goma. Ms Kieta says it formed part of ongoing "joint efforts begun several months ago for the benefit of the population", and that it came at a critical moment.
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The Federal Competition and Consumer Protection Commission has summoned the management of Air Peace Limited following multiple complaints from passengers regarding non-refunded ticket fares, even in cases where the airline cancelled scheduled flights. The Director of Corporate Affairs, Ondaje Ijagwu, stated that the airline’s actions contravene Sections 130(1)(a) and (b), and 130(2)(b) of the Federal Competition and Consumer Protection Act 2018, which guarantee consumers the right to prompt refunds when bookings or reservations are not honoured due to a service provider’s failure. He explained that the summons was issued pursuant to Sections 32 and 33 of the Act, requiring Air Peace to provide specific documentary evidence. This includes a complaint log of refund-related issues over the past 12 months, records of all processed refunds to date, a list of all cancelled flights on all routes within the same period, and measures taken to alleviate hardship caused to affected passengers.
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The United Nations’ humanitarian agency says that it was seeking $29 billion in funding compared to $44 billion requested in December, in a “hyper-prioritised” appeal. Areport says the UN was drastically scaling back its global humanitarian aid plans due to the “deepest funding cuts ever”. Tom Fletcher, the head of the United Nations Office for the Coordination of Humanitarian Affairs (OCHA), says Brutal funding cuts leaves themwith brutal choices. The UN says it has received only $5.6 billion out of the $44 billion, a mere 13 per cent, that it had requested while facing surging crises in Sudan, Gaza, the Democratic Republic of the Congo and Myanmar, among others.
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Justice Yusuf granted the bail after Emefiele was arraigned on an eight-count charge in which he is accused of among others, unlawfully acquiring a housing estate comprising 753 units, allegedly stealing and taking control of billions of naira in proxy accounts. Justice Yusuf in the ruling, noted that Emefiele had been granted bail in three other criminal cases pending against him and that there was no evidence that he had jumped bail. He then proceeded to admit him to bail on the condition that he must produce two sureties, who must own property worth ₦ 2 billion in either Asokoro, Maitama or Wuse 2 within the jurisdiction of the court. Justice Yusuf ordered Emefiele to submit his travel documents to the court and directed that he must perfect the bail by Wednesday, failing which he would be remanded in custody.
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Dangote petroleum refinery has announced the free distribution of petrol and diesel to marketers, dealers, and other large users across the country. The Refinery says the initiative would commence on august 15, 2025. The refinery also says it has procured 4,000 brand-new compressed natural gas (cng)-powered tankers for take-off of the initiative. The refinery says it has also invested in compressed natural gas (CNG) stations, commonly referred to as daughter booster stations, supported by a fleet of over 100 CNG tankers across the country to ensure seamless product distribution.
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The US and China say they have agreed in principle to a framework for de-escalating trade tensions between the world's two biggest economies. US Commerce Secretary Howard Lutnick says the deal should result in restrictions on rare earth minerals and magnets being resolved. Both sides say they would now take the plan to their presidents - Donald Trump and Xi Jinping - for approval. The US says China has been slow to release exports of rare earth metals and magnets which are essential for manufacturing everything from smartphones to electric vehicles. The new round of negotiations followed a phone call between Donald Trump and China's leader Xi Jinping last week which the US President described as a very good talk.
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A senior US health official admitted President Donald Trump’s administration had gone too far in slashing biomedical research grants worth billions of dollars, and said efforts were underway to restore some of the funding. Jay Bhattacharya, director of the National Institutes of Health says he had created an appeals process for scientists and laboratories whose research was impacted, and that the NIH had already “reversed many” of the cuts. He says he didn’t take this job to terminate grants but to make sure the research advances the health needs of the American people.
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The World Bank says it is lifting a ban on loans to Uganda that it had put in place two years ago when the country passed a draconian new law against LGBTQ people. The World Bank however, says it is confident that new mitigation measures will allow it to roll out funding in such a way that does not harm or discriminate against LGBTQ people. Analysts say the World Bank is one of Uganda's biggest sources of external financing, playing an important role in infrastructure development. Road upgrades and widened electricity access are among the projects the organisation is backing in the East African country.
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Rwanda says it is pulling out of a central African regional bloc after a diplomatic row over its involvement in the conflict in the east of the Democratic Republic of Congo. The country was supposed to take up the chairman role of the Economic Community of Central African States (Eccas), which rotates between its 11 members. Rwanda says its right to take up the "chairmanship… was deliberately ignored in order to impose the DRC's diktat". The Eccas leaders at the summit "acknowledged the aggression against the Democratic Republic of Congo by Rwanda and ordered the aggressor country to withdraw its troops from Congolese soil". It added that until the dispute was resolved, it was decided that Equatorial Guinea would remain in the chairman role to the detriment of Rwanda.
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The World Bank has reiterated its projection that the Nigerian economy would grow by 3.6 percent in 2025 despite the shift in the global trade dynamics. The World Bank also slashed its global growth forecast for 2025 by 0.4 percentage points to 2.3 percent, saying that higher tariffs and heightened uncertainty posed a “significant headwind” for nearly all economies. It warned that global growth could be weaker than projected if global trade tensions were to escalate further. The bank further stated that the direct impact on SSA growth of further escalation in global trade tensions may be contained owing to the limited direct exposure to export markets in China and the United States, apart from commodity demand.”
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The National Orientation Agency says the Federal Government’s first quarter 2025 savings following the removal of petrol subsidies increased by more than 500% compared to the previous period. The Agency noted that the subsidy removal has led to a significant increase in government revenue as the Nigerian National Petroleum Company Limited began transferring savings to the Federation Account Allocation Committee. The savings from the declaration that stopped the subsidy freed vast resources, boosting government revenue from ₦154 billion to ₦836 billion in Q1. States saw FAAC allocations jump to ₦15.26 trillion in 2024, allowing salary payments and ₦1.85 trillion debt reduction. The report added that the savings have helped finance 40 critical road projects across the country in the two years of President Tinubu’s administration.
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Prime Minister Keir Starmer has warned the United Kingdom must be prepared to confront and defeat hostile states with modern military capabilities, as his government unveils a 1.5-billion-pound plan to build at least six new weapons and explosives factories. Starmer says they are being directly threatened by states with advanced military forces, so we must be ready to fight and win. He added that they will restore Britain’s war-fighting readiness as the central purpose of our armed forces.” European nations have rushed to strengthen their armed forces in recent months, following Trump’s comments that Europe must shoulder more responsibility for its security.
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Australia's defence minister Richard Marles has called on China to explain why it needs to have "such an extraordinary military build-up". He says Beijing needs to provide greater transparency and reassurance as it is the "fundamental issue" for the region. The Philippines defence minister Gilberto Teodoro Jr has called China "absolutely irresponsible and reckless" in its actions in the South China Sea. Marles asserted that China has the single biggest increase in military capability and build up in conventional sense, by any country since the end of the Second World War".
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Equity Group, Kenya’s second-biggest bank by assets, has fired more than 1,200 employees in a sweeping internal purge to crack down on fraud. CEO James Mwangi says the probe found that staff across multiple departments had either facilitated or ignored suspicious transactions involving bank clients. While Equity’s new zero-tolerance stance will likely get regulators and public backing, it reveals deeper governance challenges within Kenya’s banking sector, which has been plagued by high-profile fraud cases. Few financial institutions have taken such a public and far-reaching approach to addressing internal fraud. The cleanup began quietly on May 20 when Equity dismissed an initial group of 200 employees, according to Mwangi.
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Nigerian Officials says the death toll after deadly floods hit the Nigerian town of Mokwa on Thursday has risen to more than 200. There are still 500 people missing in the town in north-central Niger State, as a search mission continues. The deputy chairman of Mokwa Local Government, Musa Kimboku, says that rescue efforts have ceased because authorities no longer believe anyone could still be alive. The floods, said to be worst in the area for 60 years, swept through the towns of Tiffin Maza and AnguwanHausawa after a bout of torrential rain.
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The Ebonyi State government launched EBOCAB, a ride-hailing platform to provide smart and affordable transportation alternatives for its people. The state government says EBOCAB was launched to cut down on crime, generate revenue, and provide new streams of employment for the youth. The service will be accessed through a mobile app, connects users with drivers round the clock. With its corporate headquarters in Abakiliki , this platform will serve commuters within and around Ebonyi’s airport, international market, and other corners of the state.
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The Federal Government has announced a landmark initiative under the Renewed Hope Agenda to deliver 77,400 social housing units across Nigeria and launch new Renewed Hope Cities in Lagos, Abuja, and Kano in a move to tackle the country’s housing deficit. The Minister of State for Housing and Urban Development, Yusuf Ata,says, “The primary mandate of the ministry is to provide mass housing for Nigerians, and welcomed potential collaboration with Ms Allen Le and Partners International Investment Consulting Joint Company in achieving this goal.” He reaffirmed the Federal Government’s commitment to solving housing challenges through major investments and partnerships.
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The Trump administration and congressional officials are scrutinizing a deal between Apple and Alibaba that would bring Alibaba-powered AI features to iPhones sold in China. The New York Times says White House officials and members of the House Select Committee on China have asked Apple executives directly about the deal, with questions focused on what data would be shared with Alibaba and whether the company was making any commitments to Chinese regulators. Representative Raja Krishnamoorthi described Alibaba as a poster child for the Chinese Communist Party’s military-civil fusion strategy and says it was extremely disturbing that Apple had not been transparent about its agreement.
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OpenAI is poised to help develop a staggering 5-gigawatt data center campus in Abu Dhabi, positioning the company as a primary anchor tenant in what could become one of the world’s largest AI infrastructure projects. The UAE project, developed in partnership with G42 — an Abu Dhabi-based tech conglomerate — is part of OpenAI’s ambitious Stargate project, a joint venture announced in January that could see OpenAI, SoftBank, and Oracle build massive data centers around the globe stocked with powerful computer chips to support AI development. The project is emerging amid broader AI ties between the U.S. and UAE that have been years in the making, and have made some lawmakers nervous.
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Ethiopia's main opposition party has condemned a ban on its activities, saying it posed a serious threat to the 2022 peace deal that ended two years of conflict in the northern Tigray region. The Tigray People's Liberation Front has called for the African Union to mediate with the federal government after the electoral agency revoked its legal status as a party. The decision follows months of political tensions in Tigray and comes ahead of nationwide elections that are due to take place by June next year at the latest. The National Election Board of Ethiopia, which supervises the conduct of political parties, resolved to formally deregister the TPLF on the grounds that it had failed to hold a general assembly.
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The Chinese Ambassador to Nigeria, Yu Dunhai, has reaffirmed China’s commitment to deepening bilateral cooperation with Nigeria, particularly in the solid minerals sector, through the establishment of electric vehicle factories and increased industrial collaboration. Ambassador Dunhai emphasised the strategic importance of Nigeria in China’s foreign policy adding that Nigeria is a great country blessed with tremendous natural resources. Chinese companies are already deeply involved in Nigeria’s mining sector, from exploration to processing. He noted that both presidents agreed to elevate bilateral ties to a comprehensive strategic partnership, unlocking new avenues for cooperation. He stated that the embassy consistently advises Chinese firms operating in Nigeria to respect local laws, fulfil corporate social responsibility and uphold environmental and safety standards.
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President Bola Tinubu has approved the issuance of critical regulatory licenses for the Kolmani Integrated Development Project. The project is a multibillion-dollar oil exploration initiative located between Bauchi and Gombe states. The Minister of State for Petroleum Resources (Oil) says the development was revealed during the flag-off ceremony for the construction of the permanent site of the Bauchi Oil and Gas Academy in Alkaleri Local Government Area. The Kolmani Integrated Development Project, first inaugurated in November 2022, marked the start of oil exploration in Northern Nigeria. It’s situated in the Kolmani River II oil field, a border community between Bauchi and Gombe States.
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Nigeria’s Central Bank, in collaboration with the Nigeria Inter-Bank Settlement System launched a platform to make it easier for Nigerians living abroad to get their Bank Verification Number (BVN) remotely. Nigerians abroad are expected to get a Non-Resident Bank Verification Number and they are required to pay ₦80,000 ($50). The launch of the NRBVN platform is part of a bigger push to drive remittance inflows— money sent from workers abroad back to their home country—and strengthen Nigeria’s foreign exchange reserves as remittances are a significant source of foreign exchange for the country.
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The Federal Government has concluded key legal and governance frameworks required for the operational rollout of the African Energy Bank as preparations for its official launch enter the final phase. The Special Assistant on Media and Communications to the Minister, Nneamaka Okafor says the meeting assessed progress on the bank’s establishment and confirmed that critical milestones had either been completed or were progressing on schedule. He added that the review confirms that every critical milestone is either completed or on schedule and remains fully aligned with continental partners.
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The US and China will give details of “substantial progress” touted by Washington on trade talks aimed at ending a devastating tariff war launched by US President Donald Trump that has wiped billions off equities and brought chaos to international commerce. US Treasury Scott Bessent and Trade Representative Jamieson Greer met with Chinese Vice Premier He Lifeng and international trade representative Li Chenggang for closed-door talks in Geneva on Saturday and Sunday. Both sides sounded an optimistic note after the talks ended on Sunday, without providing many specifics, with the White House calling it a new “trade deal”.
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Russian President Vladimir Putin proposed direct negotiations in the coming days to end the conflict in Ukraine but did not address a 30-day ceasefire proposal drawn up hours earlier by European allies of Kyiv, reportedly with US backing. Putin proposed direct talks with Ukraine in Istanbul on May 15 — hours after Kyiv and the leaders of France, Germany, Britain and Poland had called for an unconditional 30-day ceasefire to start on Monday. Russian and Ukrainian negotiators held direct talks in Istanbul in the first weeks of the conflict, but failed to agree to halt the fighting, which has been raging ever since. Putin says he was committed to serious negotiations with Ukraine and that he wanted talks to “eliminate the root causes of the conflict and to establish a long-lasting peace.
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Safaricom Ethiopia, the subsidiary of Kenya’s largest telecom operator, narrowed its losses by 65% to $165.7 million in 2024. The group company posted an 11% jump in 2024 full-year profit to $540 million, buoyed by stabilising losses from its Ethiopian expansion and steady growth in mobile money and data in Kenya. Safaricom is laying the rails for mobile money dominance in a country where 90% of transactions are still cash-based.
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The Taliban government in Afghanistan has banned chess until further notice due to fears the game is a source of gambling. Officials says the game has been prohibited indefinitely until its compatibility with Islamic law can be determined. Atal Mashwani, the spokesman of the Taliban government's sports directorate, says chess in Islamic sharia law is "considered a means of gambling". He says there are religious considerations regarding the sport of chess adding that until these considerations are addressed, the sport of chess is suspended in Afghanistan.
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South Africa has criticised the US as reports emerge suggesting Washington could receive white Afrikaners as refugees as early as next week. South Africa's foreign ministry described the purported move as "politically motivated" and designed to undermine South Africa's "constitutional democracy". Trump earlier described Afrikaners as victims of "racial discrimination" in an executive order, opening up the prospect for them to resettle in the US. The South African authorities says they would not block the departures of those chosen for resettlement, but says hey had sought assurances from the US that those selected had been fully vetted and did not have pending criminal charges.
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The Kebbi State Government has announced the release of over N266 million for the payment of tuition fees for 100 students of Kebbi origin studying in India. Kebbi State Commissioner for Higher Education, Isah Tunga, described the efforts of the governor as a significant step towards taking education to greater heights. “The Kebbi State Government, under the able leadership of Governor Nasir Idris, the education promoter, has approved and released the payment of tuition fees of N266,964,560 for the 100 students of Kebbi State indigenes studying in various universities in India.
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Human Rights lawyer, Femi Falana, SAN, has called on the Economic and Financial Crimes Commission and the Independent Corrupt Practices and Other Related Offences Commission to investigate the alleged criminal diversion of the $3.4 billion loan obtained from International Monetary Fund by Nigeria to fight the COVID-19 pandemic. Falana asked the IMF board to probe alleged deliberate refusal of its management to ensure that the emergency funds were used for their intended purposes. He further urged the IMF to suspend the collection of the scheduled charges, including net charges, basic interest, and administrative fees, amounting to N275.28 billion pending the conclusion of its investigation. The International Monetary Fund confirmed that Nigeria had fully repaid the $3.4 billion COVID-19 financial support it got under the Rapid Financing Instrumentbut scheduled charges, including net charges, basic interest and administrative fees, amount toN275.28 billion.
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US President Donald Trump says he was ordering new tariffs on all films made outside the United States, claiming Hollywood was being devastated by a trend of US filmmakers and studios working abroad. The announcement comes as the White House is coming under mounting criticism over its aggressive trade policies that have seen Trump impose sweeping tariffs on countries around the globe. Trump authorised the Department of Commerce, and the United States Trade Representative, to immediately begin the process of instituting a 100% Tariff on any and all Movies coming into our Country that are produced in Foreign Lands.
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Donald Trump says he is directing his government to reopen and expand Alcatraz, the infamous former prison on an island near San Francisco's Golden Gate Bridge. President Trump says that for too long America has been plagued by vicious, violent, and repeat criminal offenders". The reopening of Alcatraz - once notorious as one of the US's toughest prisons - would serve as a "symbol of law, order, and justice," he said. Leading Democrats said the proposal was "not a serious one". The maximum security facility, also known as The Rock, was closed in 1963 and it is currently operating as a successful tourist site.
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Kenyan commercial banks have rejected the Central Bank’s proposed loan pricing model, arguing it risks reintroducing interest rate controls through the back door. The Central Bank wants lenders to price credit using the Central Bank Rate plus a regulated premium known as “K”—but banks prefer a market-driven benchmark like the interbank rate. The CBK aims to make interest rates more transparent and better aligned with monetary policy however the banks say the new formula could limit their ability to price risk effectively, especially when lending to small businesses. They argue that strict pricing rules would reduce credit flow to riskier sectors and undermine efforts to support economic growth. Banks also noted the potential disruption to their existing SME loan commitments. The Kenya Bankers Association says lenders have pledged to disburse KES150 billion (annually to SMEs. Imposing a rigid pricing formulacould make those goals harder to meet.
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South African President Cyril Ramaphosa has announced a judicial inquiry into allegations of political interference in the prosecution of apartheid-era crimes. The announcement comes three decades after the end of white-minority rule - and after a group of survivors and victims' relatives sued Ramaphosa's government over a perceived lack of justice. A presidential statement says Ramaphosa is determined that the true facts be established and the matter brought to finality. Plaintiffs include the son of Fort Calata who, among a group of anti-apartheid activists who came to be known as the Cradock Four, was burnt and killed by security forces in 1985. The presidency acknowledged that allegations of improper influence in delaying or hindering the investigation and prosecution of apartheid-era crimes have persisted from previous administrations.
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Oil prices slumped on Monday after eight OPEC+ members announced a sharp increase in production, adding to fears of oversupply of crude. OPEC+ member countries announced that they would increase oil production in June. Saudi Arabia, Russia, and six other members of the oil-producing countries will implement a production adjustment of 411,000 barrels a day in June, up from May’s 137,000 barrels. The group says the decision was after the eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023 (Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman), met virtually to review global market conditions and outlook.
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A court in Tunisia has sentenced former Prime Minister Ali Laarayedh to 34 years in prison on a raft of terrorism charges. He is the latest high-profile critic of the president to be jailed as campaigners slam "sham trials" in the country. Laarayedh was charged with setting up a terrorist cell and helping young Tunisians travel abroad to join Islamist fighters in Iraq and Syria. Laarayedh has consistently denied any wrongdoing and said the case was politically motivated. Rights groups say these trials have highlighted Saied's authoritarian control over the judiciary, after dissolving parliament in 2021 and ruling by decree.
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The Minister of Housing, Ahmed Dangiwa, says the Federal Ministry of Housing and Urban Development will collaborate with the German Development Cooperation to pilot a Green Mortgage Scheme in Nigeria. Dangiwa says they see strong potential to adapt a similar green mortgage model within the Federal Mortgage Bank of Nigeria under the National Housing Fund Scheme. The plan is to drive the supply and uptake of energy-efficient affordable homes under the Renewed Hope Housing Programme. Dangiwa noted that the scheme aligned with President Bola Tinubu’s Renewed Hope Agenda to create sustainable, climate-resilient communities. The minister emphasised that as part of the collaboration, the ministry plans to embed energy-efficient standards in all housing projects.
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Kenyan Wall Street reported that the country’s central bank is looking to add gold to its foreign exchange reserve in hopes of giving its struggling reserves some buffer. Gold hauled in over 180% in the last month, summing up an impressive rally that started in January to cross $3,000 for the first time in decades. Gold (in ounces) now costs $3,218. Trump’s inspiring policy-making and the ongoing will-they-won’t-they situation with China. This drove up a gold cash grab, with investors backing the asset against piling up the greenback.
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A senior figure from South Africa's ruling ANC party has defended his country's sovereignty amid growing tensions with the US over race relations and a new land law. ANC National Chair Gwede Mantashe says they are a free country not a province of the United States and that sovereignty will be defended. US President Donald Trump has hit out at South Africa's new expropriation law, signing an executive order in February stating it was a means to which the government could "seize ethnic minority Afrikaners' agricultural property without compensation". President Cyril Ramaphosa says the law ensures "public access to land in an equitable and just manner.
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The United States government has faulted Nigeria for the continued delay in approving import permits for American agricultural products, describing the situation as a longstanding trade barrier that has hindered access to the Nigerian market. The Office of the United States Trade Representative says that despite repeated efforts to secure market access, Nigeria had not acted on several pending requests concerning food and agricultural imports from the US. The Nigeria Customs Service however countered the claims by the United States government that the NCS still operates a largely manual system, describing the assertion as unfair and misinformed. The USTR noted that Nigeria’s weak capacity to review certificates, inspect goods, and conduct testing had contributed to long clearance delays, forcing many traders to rely on informal channels.
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Nigeria’s Federal Competition and Consumer Protection Commission slammed the tech giant with a $220 million fine, last year accusing it of exploiting user data and enforcing unfair privacy policies through Facebook and WhatsApp. Nigeria’s Competition and Consumer Protection Tribunal ruled against Meta, upholding the fine and rejecting its arguments of “technical infeasibility. In the ruling, the tribunal noted that Meta “cannot threaten regulators” just because compliance would be inconvenient. Meta must now pay the $220 million fine, overhaul its data practices, and submit proof of compliance to regulators—or face further sanctions.
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A top Chinese economic official says Beijing was on the right side of history in its gruelling trade war with the United States. US President Donald Trump has imposed 10 per cent tariffs on most US trading partners and a separate 145 per cent levy on many products from China which Beijing has responded with 125 per cent tariffs of its own on US goods. Senior economic planner Zhao Chenxin says Beijing was on the right side of history adding that the United States play cards out of thin air, bully and go back on their word. US Treasury Secretary Scott Bessent on Sunday defended Trump’s tumultuous tariff policy as a way of creating “strategic uncertainty” that gives Washington the upper hand. Beijing, however, has vowed to fight a trade war “to the end” and denied US claims it is in talks with Washington.
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South Africa’s Financial Sector Conduct Authority has slapped African Bank with a $38,000 fine for false advertising after a December 2023 social media campaign blurred the lines between loans and investments. The ads, featuring a popular South African celeb, pitched personal loans with the tagline: It’s not debt, friend! It’s an investment The FSCA says this marketing move misled consumers by painting a credit facility as an investment product, violating section six of its conduct standards that require financial ads to be clear, fair, factually correct, and free from false promises or forecasts. The regulator also flagged oversight failures in African Bank’s governance process, over the approval and review of advertising materials, further breaching another part of section 6 of the Conduct Standard.
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Kenyan Wall Street reported that the country’s central bank is looking to add gold to its foreign exchange reserve in hopes of giving its struggling reserves some buffer. Gold hauled in over 180% in the last month, summing up an impressive rally that started in January to cross $3,000 for the first time in decades. Gold (in ounces) now costs $3,218. Trump’s inspiring policy-making and the ongoing will-they-won’t-they situation with China. This drove up a gold cash grab, with investors backing the asset against piling up the greenback.
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Nigeria will join senior diplomats from BRICS countries to meet in Brazil to present a united front in the face of threats emerging from US President Donald Trump’s aggressive trade policies. The meeting comes at a critical moment for the world economy after the International Monetary Fund slashed growth forecasts over the impact of the American leader’s sweeping new tariffs this week. Brazil’s BRICS representative, Mauricio Lyrio, says the ministers are negotiating a declaration to reaffirm the multilateral trading system's centrality and importance.
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Flipkart, the Walmart-owned Indian e-commerce startup that closely fights Amazon in the South Asian market, is preparing to shift its headquarters back to India from Singapore as the company prepares to file for an IPO on Indian stock exchanges. Flipkart says the move “represents a natural evolution, aligning our holding structure with our core operations, the vast potential of the Indian economy.” The startup says the relocation is subject to requisite approvals without disclosing a specific timeline however, Flipkart is expected to file for an IPO in the country sometime next year.
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Harvard University has filed a lawsuit against the Trump administration, claiming that its freezing of federal grants worth billions of dollars is unlawful. Its president, Alan M Garber, announced the action to the university community,y which said the $2bn funding freeze would hamper critical disease research. Harvard, the world's richest university, last week rejected a list of demands that the Trump administration said was designed to curb diversity initiatives and fight anti-semitism at the school. In response to the lawsuit, the White House said the "gravy train of federal assistance" was coming to an end.
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Global shipping giant DHL will “temporarily” suspend the shipping of parcels worth more than $800 from businesses to individuals in the United States citing delays in US customs clearances. DHL says that due to recent US Customs regulatory updates, we are experiencing multi-day transit delays to the US from any origin for shipments with a declared customs value exceeding USD 800. The company added that the suspension would not affect business-to-business shipments, though they may also face delays.
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Niger State has officially waived right-of-way (RoW) fees for fibre optic infrastructure, becoming the twelfth Nigerian state to implement the policy to incentivise telecom operators and expand internet access. The policy, formalised in a government gazette dated September 2, 2024, and signed by Governor Muhammed Umar Bago, is part of a broader effort to attract private-sector investment, extend internet access to remote communities, and digitise public services. Under the new policy, telecom operators will pay a one-time, non-refundable application fee of ₦500,000 ($311.80). Niger State’s Commissioner for Communications Technology and Digital Economy, Suleiman Isah, says the fee covers both initial network deployment and any future expansions. He added that even if a company received its permit ten years ago, they are not required to pay again for expansion—just notify the state. Niger, the state with the fifth largest fibre infrastructure (3,681.66km), now joins the list of states—Zamfara, Katsina, Anambra, Kebbi, Nasarawa, Bauchi, Adamawa, Kaduna, Ekiti, Imo, and Plateau—that have either eliminated or significantly reduced RoW charges to attract investment.
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The Federal Government, through the Ministry of Solid Minerals Development, generated N6.96bn in mining fees and registered 118 new private mineral buying centres in the first quarter of 2025. The Minister of Solid Minerals Development, Dr Dele Alake, says the revenue reflects the outcome of the Ministry’s efforts to raise awareness and attract investors. He says the mining fees collected by the licensing parastatal, Mining Cadastral Office, came from 955 applications for title grants. He noted that 651 title applications were approved for exploration, 270 for small-scale mining, 49 for quarrying, and 24 for reconnaissance permits.
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US Secretary of State Marco Rubio has announced that the US is immediately revoking visas issued to all South Sudanese passport holders due to the African nation refusing to accept its citizens who have been removed from the US. Rubio added that the US will also block any arriving citizens of South Sudan, the world's newest country, at US ports of entry. He blamed the failure of South Sudan's transitional government to accept the return of its repatriated citizens in a timely manner. He says It is time for the Transitional Government of South Sudan to stop taking advantage of the United States
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Zimbabwe's President Emmerson Mnangagwa has announced he will suspend tariffs on goods imported from the US to build a "positive relationship" with President Donald Trump's administration. The move comes days after Trump imposed 18% tariffs on Zimbabwean exports to the US. Zimbabwe has had strained diplomatic relations with the US since it adopted a controversial land policy about 25 years ago, and because of its poor human rights record. Trade between the two countries amounted to only $111.6m (£86.6m) in 2024, US government data shows.
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The Federal Government has raised concerns over the potential negative consequences of newly imposed U.S. tariffs on Nigerian exports. The Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, warned that the move could significantly impact both oil and non-oil trade flows to one of Nigeria’s key markets. Oduwole emphasised that the newly introduced tariffs could undermine the competitiveness of Nigerian products in the U.S. market and disrupt business activities, particularly within the non-oil export sector. She noted that Nigeria’s exports to the United States over the past two years have consistently ranged between $5 billion and $6 billion annually.
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The National Health Insurance Authority has directed Health Management Organisations to authorise the treatment of patients within one hour from the time of requests by hospitals and other healthcare providers. A spokesperson for the NHIA, Emmanuel Ononokpono, says the authority's mandates included reducing delays in accessing services and ensuring that enrollees receive quality healthcare services. He says the delays in authorising treatment and issuing codes continue to negatively impact beneficiaries’ experiences. He says though the changes regarding authorisation of care were initially approved at a stakeholders’ meeting in February 2025, it came into operation on April 1, 2025.
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United States President Donald Trump says his soon-to-be-announced reciprocal tariffs will apply to all countries. Trump says that his long-anticipated tariff announcement on April 2 would “start” with all countries. Trump’s remarks come after his administration had played down the scope of the tariffs set to be unveiled on April 2, which the US president has dubbed liberation day. White House economics adviser Kevin Hassett suggested earlier this month that the measures would be heavily focused on 10 to 15 countries that account for the bulk of the US trade deficit.
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Tunisia’s transport ministry says it has seized 12 million dinars ($3.8 million) from accounts linked to several platforms, including Bolt, claiming the funds were illegally transferred abroad. Bolt says the accusations are “completely unfounded” and that the government’s actions are procedurally flawed adding that all local authority actions have been taken without the involvement of an investigating judge. The transport ministry claims its actions are part of a broader effort to “reform the transport sector” and protect the local market from foreign apps that transfer profits abroad. Bolt, however, warned that pushing out international players sets a dangerous precedent for market competition.
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Marketforce has been ordered to pay $16,000 to a former employee for wrongful termination. In 2024, ex-employees filed a now-dismissed case against Wasoko, a B2B e-commerce company, which merged with Egypt’s MaxAB in August 2024, while former business process outsourcing company Sama faces an ongoing lawsuit from its former employees. This ruling is a rare win for workers in a space where startups usually hold all the power. It sends a message: employees can push back, and courts are willing to hold companies accountable. For startups, it’s a warning—cutting costs the wrong way can end up costing more.
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Five months after blocking the Vodacom-Maziv merger deal, South Africa’s Competition Commission is standing firm on its decision to prevent the country’s second-largest telecom operator’s attempt to acquire a co-controlling stake in Maziv, the parent company of Vumatel and Dark Fibre Africa. The anti-competition watchdog argued that allowing Vodacom to take control would cement its dominance in mobile and give it undue influence over the fibre market, an industry over which it previously had limited control. Another complication for the telecom operator is that it does not have any precedent to make an argument. Telecom operators with fibre businesses have created their vertical businesses from scratch. A potential compromise for Vodacom could be to consider building a fibre business from scratch or reduce its stake in Maziv to a non-controlling position. That way, it could invest in fibre without wielding unchecked power over the market. The Competition Commission is holding its ground and the case will go before the appeal court in July.
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Somalia's breakaway region of Somaliland has rejected an attempt by the central government to give the US exclusive control of a port and airbase in Berbera. The city lies on the strategic Gulf of Aden, on the northern coast of Somaliland. The territory, which declared independence in 1991 as Somalia descended into civil war, says the facilities are not Mogadishu's to give away. Somalia's President Hassan Sheikh Mohamud also offered port and airbase within Somalia, saying all four would strengthen US security operations. Somaliland's Foreign Affairs Minister Abdirahman Dahir Aden dismissed the move as desperate.
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The Nigeria Extractive Industries Transparency Initiative has recovered $4.85 billion from unpaid liabilities owed by oil and gas companies in the country. NEITI’s Executive Secretary, Dr. Orji Orji, disclosed that the recovery is part of the total $8.26 billion identified in its 2021 oil and gas audit report. He stated that the development demonstrates the agency’s commitment to transparency and accountability in Nigeria’s extractive sector. He says while significant progress has been made in recovering funds, unresolved financial liabilities remain a major concern. He lamented that despite NEITI’s efforts to ensure financial accountability in the oil and gas sector, several companies have continued to default on payments.
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Taara Lightbridge, a project originally developed under its X “moonshot” division, will become a standalone company, challenging Starlink in the race to connect underserved regions with high-speed internet. Taara’suses Free Space Optical Communication (FSOC) technology to beam high-speed internet through light over long distances, unlike satellite broadband. The move signals Alphabet’s renewed push into connectivity solutions after the closure of its Project Loon balloon venture in 2021. CEO Mahesh Krishnaswamy says Taara is targeting 3 billion people globally, including 860 million in Africa without reliable internet access. The company will compete directly with Starlink, which has amassed over 5 million subscribers across 125 countries. While still in testing, Taara is operational in 12 countries globally and is now focusing on scaling its operations across Tanzania, Kenya, Zimbabwe, and Nigeria.
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MTN is cutting back on network investments in South Africa, reducing its core network investments by $225 million in 2025 which brings its budget to between $313 million and $367 million about 19% of the group’s total capital expenditure. The company says its network has enough capacity and that it needs to see returns on the $247 million it spent on its network resilience during load-shedding. MTN’s move in South Africa is surprising because MTN Nigeria, its subsidiary business—which lost its spot as the group’s top revenue generator in 2024 owing to losses—is taking a different approach. Instead of cutting back, the telecom operator is increasing investment in its core network in Nigeria where it controls more than half of the market share.
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Namibia's new president was sworn in to lead a country facing high rates of unemployment, inequality and poverty. Netumbo Nandi-Ndaitwah told BBC's Africa Daily podcast that she will be dealing with it with the additional burden of being only Africa's second-ever directly elected female president and Namibia's first female head of state and If things go well then it will be seen as a good example, Nandi-Ndaitwah has been a long-term loyalist of the South West Africa People's Organisation (Swapo) – which has been in power since the country gained independence in 1990 after a long struggle against apartheid South Africa.
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The Federal Government says it will learn power generation and transmission from Egypt which it described as a role model in the sector. The government also has reaffirmed its commitment to rural development through improved electricity access, The Minister of Power, Adebayo Adelabu, says that the meeting centred on strengthening bilateral cooperation in energy expansion, focusing on renewable energy and rural electrification. Adelabu commended Egypt’s achievements in the energy sector and described the country as a role model in energy infrastructure development. He expressed Nigeria’s interest in learning from Egypt’s experience in energy generation, transmission, and distribution, adding that the success in Egypt led to the engagements with Siemens with a view towards stabilising Nigeria’s power sector.
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The Nigerian Bar Association has reiterated its position that the removal of the Rivers State governor, Siminalayi Fubara, by President Bola Tinubu is unconstitutional and has called on the President to reverse that decision. The President declared a state of emergency in Rivers State, suspending the governor, his deputy and all the members of the House of Assembly over the political crisis rocking the oil-rich state. Osigwe says that they expect the president to restore Fubara back to power having unconstitutionally removed him.
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Israel ordered all of Gaza's electricity supply to be cut off on Sunday in an effort to pressure Hamas into releasing the remaining Israeli hostages held in the territory. Energy minister Eli Cohen's announcement came a week after Israel cut off all aid supplies to the territory, which has a population of more than two million people. The decision to cut electricity is expected to primarily affect the operation of desalination plants which are crucial for providing clean drinking water. The government says it has not ruled out cutting off water supplies. Israel wants Hamas to accept an extension of the first phase of their ceasefire but Hamas wants to start negotiations on the ceasefire's second phase, which would see the release of the remaining hostages from Gaza, withdrawal of Israeli forces and a permanent end to war.
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The South African government says it will not take part in counterproductive megaphone diplomacy following a fresh social media post by US President Donald Trump repeating his claim that Pretoria was confiscating land. Trump extended his invitation to relocate those seeking to flee [South Africa] for reasons of safety to all farmers and offered them citizenship. The government said South Africa was still committed to building a mutually beneficial trade, political and diplomatic relationship with the Trump administration. The US president said their land was being seized without compensation, something the South African government denies. He also offered refugee status to Afrikaner farmers, despite vowing to crack down on immigration.
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The Democratic Republic of Congo government has offered a reward of $5m for help arresting three leaders of a rebel group which has seized much of the east of the country this year. Corneille Nangaa, a former head of DR Congo's electoral commission, now leads the Congo River Alliance, which includes the M23 rebel group. The bounty is also on offer for M23 leaders Sultani Makenga and Bertrand Bisimwa. A reward of $4m was also offered for the arrest of two journalists living in exile, and others the government describes as accomplices.
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Market data shows that Bitcoin’s price plummeted to $82,267 marking a 5% decline over the past 24 hours. = The development comes as uncertainty surrounding U.S. President Donald Trump’s economic policies continues to ripple through the market. The overall cryptocurrency market experienced a 5% drop, reducing its valuation to about $2.77 trillion. Solana recorded 7% loss, while XRP recorded 5% losses, while Ethereum fell 5%, trading near the $2,000 mark. The downturn has been further fueled by a wave of memecoin scams, prompting investors to seek safer assets.
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Carbon, the Nigerian digital bank known for its loans-led approach to banking, has partnered with Verve, the Interswitch-owned card scheme, to resume issuing debit cards nine months after pausing card operations. Carbon operates without an agent network or physical branches, limiting channels for cash withdrawals and online shopping. The company says discontinuing cards further limited its channels and the resumption of card issuance shows that despite the rise of contactless payments and bank transfers, debit cards remain one of the most effective channels for customers to access their funds.
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The Federal Government has adopted the Tai Solarin University of Education (TASUED) in Ijagun, Ogun State as a Federal University. President Tinubu approved the adoption on Friday and thanked the Ogun State Government for inviting the Federal Government to take over the school, one of the state’s best educational assets. He says it is an opportunity for the Federal Government to honour Chief Obafemi Awolowo, who began the revolutionary free education programme in Western Nigeria and Dr Tai Solarin, who spent most of his life educating children and impacting patriotic and leadership lessons. President Tinubu emphasised that TASUED’s transition into a Federal University of Education is a strategic step in the Federal Government’s commitment to bolster teacher education and enhance the quality of instruction across all educational levels.
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UK Prime Minister Keir Starmer has announced a four-point plan to work with Ukraine to end the war and defend the country from Russia. The UK, France and other countries will step up their efforts in a coalition of the willing" and seek to involve the US in their support for Ukraine after calling a summit of 18 leaders - mostly from Europe and including Volodymyr Zelensky - three days earlier. Zelensky says Kyiv felt "strong support" and the gathering showed "European unity at an extremely high level not seen for a long time". French President Emmanuel Macron told Le Figaro newspaper that Paris and London wanted to propose a one-month truce between Russia and Ukraine "in the air, at sea and on energy infrastructure.
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The Democratic Republic of Congo is standing firm on its decision not to have direct talks with the M23 rebel group that has made major advances in the east of the country in recent months. DR Congo Prime Minister Judith Suminwa Tuluka says her government wants to negotiate with neighbouring Rwanda, which it accuses of backing the M23. She says the fact remains that the aggressor of the territorial integrity and of the sovereignty of the Democratic Republic of Congo is Rwanda.
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The Nigeria Labour Congress has vowed to mobilise workers and citizens for a nationwide protest if the Federal Government proceeds with its proposed electricity tariff hike, describing it as “economic violence against the working class and broader Nigerian populace.” The National Union of Electricity Employees accused the Ministry of Power and NERC of attempting to force consumers into higher tariff bands under the pretext of service improvement while, in reality, deepening economic hardship. The NEC also expressed concerns over the recent 35 per cent increase in telecommunications tariffs adding that Nigerian workers should not bear the brunt of corporate and government inefficiencies.
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MTN Nigeria, the country’s largest operator, has claimed back ₦32 billion from banks, a partial recovery of the ₦74 billion owed in USSD service charges. In December 2024, the regulators, the Central Bank of Nigeria and the Nigerian Communications Commission, ordered banks to pay 85% of their ₦250 billion debt to telcos before year-end or face fines and service restrictions. The crackdown forced banks to act, but not quickly enough for MTN, which still classifies the unpaid sum as “receivables” pending settlement in 2025. MTN Nigeria, in 2024, reported an after-tax loss of ₦400.44 billion; the sharp decline stems from the naira’s depreciation, soaring tower lease costs, and mounting foreign currency obligations.
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The federal government has mandated that road contractors work on-site for at least two weeks before receiving mobilisation fees. The Minister of Works, David Umahi, explained that the policy aims to ensure that only committed contractors handle Nigeria’s road projects, thereby reducing cases of abandoned construction sites. He stressed that the Ministry’s decision that every contractor must be at the site and working for at least two weeks before the mobilisation fee is paid is the way to go for sustainable project development and delivery
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Volodymyr Zelensky says the eve of the third anniversary of Russia’s invasion — that he was ready to quit as Ukraine’s president if it meant Kyiv would be admitted to the NATO military alliance. Zelensky says he wanted to meet Donald Trump before the US president meets his Russian counterpart Vladimir Putin. Zelensky and Trump have been engaged in a war of words since US and Russian officials met last week in Saudi Arabia for their first high-level talks in three years. The move undermined the West’s policy of isolating the Kremlin and infuriated Ukrainian and European leaders, excluded from the meeting. Trump has branded Zelensky a “dictator”, falsely claimed Ukraine “started” the war also claimed, contrary to independent opinion polls, that Zelensky was unpopular at home. Zelensky said he was not “offended” by Trump’s comments and was ready to test his popularity in elections once martial law ends in Ukraine.
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India and the UK will restart free trade talks nearly a year after negotiations were paused ahead of general elections in both countries. Jonathan Reynolds, the UK's business and trade secretary, is in Delhi, where he will meet his Indian counterpart Piyush Goyal to kick off the two-day discussions. Reynolds says it was a no-brainer to seek a trade deal with India, which was forecast to become the world's third-largest economy in a few years. The countries have held more than a dozen rounds of negotiations since 2022, but an agreement has remained out of reach. Sticking points include high tariffs in India on Scotch whiskey and demands to relax fees and visa rules for Indian students and professionals going to the UK. President Donald Trump's decision to impose reciprocal or tit-for-tat tariffs on imported goods from countries, including India.
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The Rwandan government has condemned the US decision to sanction a government minister for his alleged role in the conflict in the east of neighbouring Democratic Republic of Congo. The US Treasury Department says Rwanda's Minister of State for Regional Integration James Kabarebe, a former army chief, was central to his country's support for the M23 rebel group. The US Treasury also sanctioned Lawrence Kanyuka, the M23's spokesman, as well as two companies he controls in Britain and France. The UK says there would be consequences for Rwanda over its alleged role in DR Congo. Rwanda's foreign ministry says the sanctions would not resolve the conflict in the DR Congo, terming them unjustified and unfounded.
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Reuters reports that an order from the country’s Supreme Court Judge Alexandre de Moraes stated that the Elon Musk-owned social network could “immediately return to its activities in national territory” if it pays a fine of 10 million reais (around $1.9 million). X has been locked in a legal battle over Moraes’ attempt to block certain accounts that he accused of posting election misinformation. Moraes is telling the company to pay this additional fine after X seemed to circumvent the ban earlier this month and resume service in the country — a “coincidence” caused by X switching to Cloudflare infrastructure. X’s Global Government Affairs account seemed to acknowledge its acquiescence and claim that providing access to Brazilian users is essential to a thriving democracy.
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Zimbabwe's central bank has devalued its gold-backed currency by over 40% against the US dollar, indicating that the last-ditch effort to stabilise the country's volatile economy, is in trouble. The Reserve Bank of Zimbabwe decided to slash the local exchange rate to 24 Zig to $1. This slump is due to an increase in demand for the US dollar, which is also legal tender. It comes after warnings from large retailers of store closures if the rate remained fixed at the previous level. RBZ says that its Monetary Policy Committee made the move to allow greater exchange rate flexibility. RBZ explained that the measures would address emerging exchange rate risks, anchor the inflation expectations and stabilise prices in the near to short term.
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The Federal Government says that it has begun the implementation of electricity subsidies for public hospitals nationwide. The Senior Adviser of Media and External Relations to the Coordinating Minister of Health and Social Welfare, Tashikalmah Hallah, says that subsidy on electricity for public hospitals had begun. Hallah also said the government plans to subsidise electricity for private hospitals nationwide. The Minister of State for Health and Social Welfare, Dr Tunji Alausa, announced that the Federal Government had approved the 50 per cent electricity subsidy for public hospitals. He says the gesture aims to reduce the running costs for public hospitals and alleviate the impact on patients.
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The World Bank has approved three operations for a total of $1.57bn to support the Federal Government in strengthening human capital through better health for women, children and adolescents and building resilience to the effects of climate change, such as floods and droughts through improving dam safety and irrigation. The new financing includes $500m for addressing governance issues that constrain education and health delivery, $570m for the Primary Healthcare Provision Strengthening Program and $500m for the Sustainable Power and Irrigation for Nigeria Project. The apex bank says the HOPE-PHC project will improve the quality and utilisation of core reproductive, maternal, newborn, child, and adolescent health and nutrition services to reduce maternal and under-five mortality substantially.
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Organisers of the October 1 protest against hardship in the country have insisted they would proceed with the ‘showdown’ despite kicks by the Federal Government and warning by the Nigerian Police Force. A former presidential candidate and activist who is one of the leaders of the planned Oct 1 protest, Omoyele Sowore, gave an update on his social media platform X on Monday, insisting on the action, and saying it would be held across the country. “NO GOING BACK! #FearlessInOctober”. He says the nationwide protest will be held at the Eagles Square Abuja, and the demonstrations will be peaceful.
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Amazon CEO Andy Jassy is calling for a full return to office at the start of 2025. For the last 15 months, employees have been expected to work in the office three days per week. Now employees will be expected to be in the office five days a week, with work from home being OK only in extenuating circumstances. Big Tech executives have championed return-to-office mandates, but they have proven unpopular among some tech workers.
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Sri Lanka's new president Anura Kumara Dissanayake has been sworn into office, promising "clean" politics as the country recovers from its worst economic crisis. The left-leaning Dissanayake says they need to establish a new clean political culture and win back the people’s respect and trust in the political system. Dissanayake says the unity of Sinhalese, Tamils, Muslims and all Sri Lankans is the bedrock of this new beginning, Dissanayake also promised voters good governance and tough anti-corruption measures.
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Women's rights advocates are demanding the immediate implementation of a nearly 30-year-old gender equity bill which Ghana’s president signed into law. Ghana's Affirmative Action (Gender Equality) Act 2024 is expected to ensure a critical number of women hold key positions in government, security, commerce and other decision-making spaces. The law promotes the progressive and active participation of women in public life from a minimum of 30% to 50% by 2030, in line with the UN's Sustainable Development Goal of achieving gender equality by 2030. This ends a process which began in 1998, with the bill shuffling between parliaments until the legislature passed it in July this year. Many campaigners faulted Ghana’s law-making body for the long delay. Speaker of Parliament Alban Bagbin says he hoped lawmakers would commit to the reforms and do more to create a free and just society to liberate more women to support and develop mother Ghana.
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The South African Reserve Bank has cut interest rates by 25 basis points, the bank lowered interest rates from 8.25% to 8%. South Africa’s inflation eased to 4.4% after a decrease in transport prices and utility rates. It is the lowest inflation rate since April 2021. SARB governor Lesetja Kganyago says they found 25 to be a prudent stance to take adding that Adventurism is not part of the monetary policy toolkit. He added that both 25 and 50 basis points cuts were on the table but the monetary policy committee unanimously settled on the former.
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Kenya has pledged to send 600 more police officers to Haiti in the coming weeks to help fight gangs controlling much of the capital, Port-au-Prince, and nearby areas. Kenya’s President William Ruto says he supported turning the current Kenya-led security mission into a full United Nations peacekeeping operation. A handful of other countries have together pledged at least 1,900 more troops. Violence in Haiti is still rife and a UN human rights expert has warned that gangs are targeting new areas, causing further displacement. The UN Security Council is due to meet by the end of the month to decide whether to renew Kenya's current mandate for another 12 months, paving the way for a full UN mission in 2025.
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The Federal Government has saved a total sum of N900bn proposed to be spent for state governments’ infrastructural development and security between November 2023 and July 2024. The Federal Accounts Allocation Committee deducts the amount disbursed to a special account before its monthly revenue distribution to the three tiers of government. President Bola Tinubu earlier approved the establishment of the Infrastructure Support Fund for the 36 States of the Federation as part of measures to cushion the effects of the petrol subsidy removal on the people.
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The Independent National Electoral Commission has declared Okpebholo of the All Progressives Congress as the winner of the 2024 governorship election in the South-South state. Okpebholo, 54, secured 291,667 votes to defeat Asue Ighodalo of the Peoples Democratic Party (PDP) who got 247,274 votes and Olumide Akpata of the Labour Party (LP) who came a distant third in the race with 22,763 votes. Fourteen other candidates contested the seat but got less than the three frontline candidates.
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TikTok will start making its case against a law that will see it banned in the US unless Chinese owner ByteDance sells the social media app within nine months. The measure - signed into law by President Biden in April - has been prompted by concerns that US users' data is vulnerable to exploitation by China's government. TikTok and ByteDance have always denied links to the Chinese authorities and have described the law an "extraordinary intrusion on free speech rights. The firm will make its arguments before a three-judge panel at an appeals court in Washington DC. Company representatives will be joined by eight TikTok creators, including a Texas rancher and a Tennessee baker, who say they rely on the platform to market their products and make a living.
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The government of South Sudan is holding an emergency cabinet meeting hours after it announced that long-delayed national elections would be postponed by two years. The polls were due to take place this December. A 2018 peace deal that ended a civil war allowed President Salva Kiir to remain in charge of a transitional government with his former foe Riek Machar serving as his deputy. South Sudan, the world's youngest country, has not held national elections since independence in 2011. This has fuelled suspicion that they are clinging to power in the oil-rich country. President Salva Kiir's office says essential tasks like writing a new constitution must happen before an election. Officials have also cited logistical and security challenges, which could not be overcome by the end of the year.
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The Lagos Waste Management Authority plans to introduce community recycling centres to support businesses in the circular economy. LAWMA CEO, Muyiwa Gbadegesin says the centres are part of upcoming innovations from the waste management agency during the Lagos Recyclers Association Conference held on Friday in Lagos State. Gbadegesin says the community recycling centre will be a drop-off point for people in the community to bring recyclable materials, whether it’s paper, PET bottles, other types of plastic, glass, metals, even textile waste, and then food waste.
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President Bola Tinubu has returned to Abuja after his official visit to China and his short stay in the United Kingdom. President Tinubu held bilateral meetings with President Xi Jinping and Chinese Premier Li Qiang, and there were five memoranda of understanding signed between Nigeria and China. He also attended the forum on China-Africa Cooperation (FOCAC) in Beijing, and as chairman of ECOWAS, delivered a paper on global peace, stressing multilateralism and cooperation as essential ingredients for international peace.
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The Dangote Refinery located in Lagos has denied selling petrol to the Nigerian National Petroleum Company Limited at N898 per litre. A spokesman for the refinery Anthony Chiejinadescribed the claim by the NNPCL as “misleading and mischievous”. He urged Nigerians to disregard this malicious statement and await a formal pricing announcement by the Technical Sub-Committee on Naira-based crude sales to local refineries, appointed by President Bola Ahmed Tinubu. He added that they the products to NNPCL in dollars with a lot of savings against what they are currently importing so there will be petrol in every local government area of the country regardless of their remote nature
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Boeing is offering its staff a 25% pay bump over a four-year contract, in a bid to avoid a strike that could potentially shut down its assembly lines as early as Friday. Union leaders representing more than 30,000 employees have urged the workers to support the proposal, describing it as the best contract they had ever negotiated. Boeing workers in the Seattle and Portland region are set to vote on the deal. The aerospace giant's chief operating officer, Stephanie Pope, described the proposal as a "historic offer" adding that If ratified by union members, it would be the first full labour agreement between the firm and the unions in 16 years.
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Sudan's military-led government has rejected a call by a UN fact-finding mission for the deployment of an international force to protect civilians from the country’s ongoing civil war. The UN mission reported that Sudan’s warring parties had committed "harrowing" human rights violations against civilians. The UN mission’s lead, Chande Othman, says given the failure of the warring parties to spare civilians, an independent and impartial force with a mandate to safeguard civilians must be deployed without delay. The head of the World Health Organization, Dr Tedros Adhanom Ghebreyesus also called on the world to wake up and help Sudan out of the nightmare it is living through.
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Ethiopia's Prime Minister has warned that anyone planning on invading the country should "think 10 times" before doing so because, any attack would be repelled. Ethiopia has been experiencing some rising tensions with neighbouring Somalia and Egypt. Somalia has described a maritime pact that Mr Abiy's government signed with the self-declared republic of Somaliland in January as an act of "aggression", and has responded by forging closer military ties with Egypt. Egypt has also been involved in a long-running dispute of its own with Ethiopia over Addis Ababa's decision to build a large dam on a tributary of the River Nile.
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The Federal Government has signed a $1bn iron ore steel deal project with China. The Minister of Solid Minerals Development Dr Oladele Alake, said the deal was signed for Kogi State as a breakthrough in the Federal Government’s campaign to make local value addition the development model in the solid minerals sector. He says the Federal Government has reversed the pit-to-port policy under which mining companies exported raw minerals to extraction with local value addition which is the best guarantee of jobs for the youths, skills transfer and better trade balance between the country and her trading partners. He noted that to promote local value addition, he has announced that applicants for licences to mine must disclose plans for processing the raw minerals as part of the conditions for approval.
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Brazil's Supreme Court will vote on whether or not to uphold a ruling to ban social media platform X, formerly known as Twitter. Justice Alexandre Moraes called for the vote after the platform was suspended in the country in the early hours of Saturday. It came after X failed to appoint a new legal representative in Brazil before a court-imposed deadline. Justice Moraes gave companies, including Apple and Google, a five-day deadline to remove X from its app stores and block its use on iOS and Android devices. He added that individuals or businesses that are found to still be accessing X by using virtual private networks could be fined $8,910.
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S & P Global Ratings has downgraded Kenya’s credit rating from “B to B-”, meaning that Kenya has now been deemed credit-risky by all three of the biggest credit rating agencies. Due to being credit-risky, raising money from debt instruments will become problematic for Kenya because the borrowing cost becomes expensive. The ratings tell investors that Kenya is not a debt-sustainable country. So, they will be wary now of providing Kenya with loans. After Kenya’s president, William Ruto withdrew the Finance Bill in June, he mentioned that the country will look at alternatives to raise money. Borrowing more money at high interest rates to meet its debt obligations remains one bleak option for Kenya.
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Amazon Web Services hosted a summit in Johannesburg, South Africa to discuss the advancements of Generative Artificial Intelligence and committed to making a follow-on investment of $1.7 billion by 2029 to increase renewable energy supply to its data centres. AWS has two of its three data centres located in South Africa. At least one of them consumes about 1,000 megawatts of electricity. AWS will use that investment to generate more electricity to sustain the high demand for storage for data points and also use AWS Bedrock which allows companies to build on existing Gen AI models, and scale their operations.
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The Global Environment Facility has approved $3.28m to tackle land degradation in Kebbi State under the National Agency for the Great Green Wall initiative. The Operational Focal Point for GEF, Jonah Stanley, says GEF is a multilateral environmental fund that provides grants and blended finance for projects related to biodiversity, climate change, international waters, and land degradation, among others. Stanley noted that GEF was a funding mechanism that supported more than 185 countries around the world, including Nigeria, in dealing with environmental issues.
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The Nigerian National Petroleum Company Limited says the company’s significant debt to petrol suppliers poses a threat to the sustainability of fuel supply. There have been reports that a $6 billion debt the NNPCL owes petrol suppliers has worsened petrol scarcity in Nigeria, a perennial feature since the beginning of 2024. NNPCL spokesman Olufemi Soneye says the financial strain has placed considerable pressure on the company and poses a threat to the sustainability of fuel supply. He says they are actively collaborating with relevant government agencies and other stakeholders to maintain a consistent supply of petroleum products nationwide.
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The Central Bank of Nigeria revealed that Nigeria’s Letter of Credit payments dropped by 57 per cent in the first seven months of 2024. The CBN’s weekly International Payments Data shows that the country’s Letter of Credit payments dropped to $391.91m from $912.35m within the same period in 2023. An analysis of the CBN data showed that the highest LC payments this year were recorded in February at $102.59m, followed by July at $79.65m and $58.33m in January. In March, LCs payments stood at $43.53m compared to $269m in the same month in 2023, rose to $54.02m in April 2024 and dropped to $21.48m in May before rising to $32.26m in June.
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The chief prosecutor of the International Criminal Court has called on judges to urgently rule on his request for arrest warrants for Israeli Prime Minister Benjamin Netanyahu and others linked to the war on Gaza. Prosecutor Karim Khan says that any unjustified delay in these proceedings detrimentally affects the rights of victims. Khan had applied for arrest warrants against Israeli officials, including Defence Minister Yoav Gallant, as well as three Hamas leaders in May for alleged crimes committed during the Hamas-led October 7 attack on southern Israel and Israel’s subsequent war on Gaza. Khan stressed that the ICC had jurisdiction over Israeli nationals who commit atrocities in the occupied Palestinian territory and asked the judges to dismiss legal challenges filed by several governments and other parties.
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A "right to disconnect" rule has come into effect in Australia, offering relief to people who feel forced to take calls or read messages from employers after they finish their day’s work. The new law allows employees to ignore communications after hours if they choose to, without fear of being punished by their bosses. More than 20 countries, mainly in Europe and Latin America, have similar rules. The law does not ban employers from contacting workers after hours. Instead, it gives staff the right not to reply unless their refusal is deemed unreasonable. Under the rules, employers and employees should try to resolve disputes among themselves. If that is unsuccessful in finding a resolution Australia's Fair Work Commission can step in.
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Gabon's interim president who seized power in a coup a year ago has barred members of his transitional government from holidaying abroad. Gen Oligui Nguema has also limited government officials to a maximum of one week of holiday leave. These new restrictions were announced on state television, after he toured the country to listen to people's concerns. There is speculation that Gen Nguema may be softening the ground to run for president in next year's election - the first since he seized power in the Central African state. News of the holiday restrictions comes days before the first anniversary of the coup - when the junta's record will inevitably be scrutinised.
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The Federal Government has declared that the Nigerian National Petroleum Company Limited does not have the funds required to rebuild old pipelines. The Minister of State for Petroleum Resources, Heineken Lokpobiri, stated emphasised that Nigeria also needs to repair its pipelines, which he said are old, corroded, and expired. He noted that even if the country can produce more than 1.7 million barrels of crude oil, the problem is how to evacuate it to the terminal. He says the pipelines have all expired and are completely corroded but there are better technologies which are more expensive, there are better pipelines that other people are using in other countries, but they are not cheap.
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The federal government says it stands by its decision to void over 22,700 degree certificates obtained by Nigerians in some “fake” universities in neighbouring Togo and Benin Republic. Education Minister Tahir Mamman, says Nigerians who obtained degree certificates from such “illegal” tertiary institutions are denting Nigeria’s image. He says the measure to invalidate degree certificates from illegal universities in the Benin Republic and Togo was not a harsh one as the authorities in the neighbouring Francophone West African countries also adjudged the concerned schools as fake. The Federal Government subsequently suspended the accreditation of certificates from the two francophone West African nations and launched a probe.
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The Nigeria Electricity Regulatory Commission earlier said that electricity consumption was not a fundamental right that could be challenged. The country’s Minister of Power, Adebayo Adelabu,says that electricity will now be treated as a fundamental human right. He says Although access to electricity is not exactly specified as a fundamental human right by the United Nations, it is implied within human rights frameworks in countries like India and China. He says making electricity a basic human right means that the country will offer respite to Nigerians who use generators to meet their electricity needs. He however did not explain how the government will outline a clear plan to address the country’s longstanding power supply challenges and deliver on this ambitious promise.
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The Director General of the World Trade Organisation, Ngozi Okonjo-Iweala, has advocated policy consistency in Nigeria regardless of change from one administration to another. She says maintaining good economic and social policies; maintaining policy consistency and adding more reforms will lead along the path of good progress. The former Nigerian finance minister decried a phenomenon she labelled as the “not-in-my-administration syndrome” in governance which she said has been responsible for the not-so-good economic performance of Nigeria.
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The World Health Organization has declared the mpox outbreak in parts of Africa a public health emergency of international concern. The highly contagious disease - formerly known as monkeypox - has killed at least 450 people during an initial outbreak in the Democratic Republic of Congo. It has now spread across parts of central and east Africa, and scientists are concerned about how fast a new variant of the disease is spreading and its high fatality rate. WHO chief Tedros Adhanom Ghebreyesus says the potential for further spread within Africa and beyond is very worrying. He says a co-ordinated international response is essential to stop this outbreak and save lives.
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The Federal Government has given subscribers of the National Housing Programme a 90-day deadline to complete their payments, with an additional eight-week grace period. The Permanent Secretary of the Ministry of Housing and Urban Development, Dr Marcus Ogunbiyi, says the validity period for the completion of all payments was 90 days.” However, he added that a grace period of eight weeks was given to them, within which they were advised to complete all their payments. He explained that it meant that subscribers who had not yet completed their payments had 26 weeks to do so. The ministry has urged subscribers to take advantage of the grace period to complete their payments and avoid having their offers revoked.
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The Federal Government has been implored to simplify the process of land documentation as a measure to enhance housing construction and home ownership across the country. The Managing Director of Gestpoint Nigeria Limited, Dr Ebenezer Akinrinade, says the current reality in the sector is that the process of getting land documented is cumbersome and time-consuming across the country, adding that the development impedes investors from Nigeria’s real estate sector. He posited that if the government could give every other sector grants to do one or two projects, the real estate sector would equally need some funds.
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Stakeholders in the judiciary sector of the country have called for speedy implementation of the Administration of Criminal Justice Act across the country. They said the act was passed into law and domesticated in 2015 by at least 34 states including Katsina is yet to be implemented, The Programme Manager of CLEEN Foundation, Chigozirim Okoro, described policing as a collective responsibility from parents to guardians, to school teachers, to community heads, to religious leaders, to security and law enforcement agencies to ensure violence-free Nigeria.
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The Nigerian National Petroleum Company Limited has debunked a report claiming that it owes international oil traders $6.8 billion. Chief Corporate Communications Officer, Olufemi Soneye, also refuted claims that the NNPCL has not remitted funds into the federation account since January. Soneye, however, acknowledged that it is normal to owe at one point or the other since the oil trading business, transactions are carried out on credit. He says on the issue of quality/quantity fiscalization of imported petroleum products, the NNPCL has no role whatsoever as it is not a regulator. He added that the Nigerian Midstream and Downstream Petroleum Regulatory Authority is an independent body and does not report to the NNPCL.
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Hamas says that any resumption of ceasefire talks about the conflict in Gaza should be based on previous plans rather than holding new rounds of negotiations. International mediators from Qatar, Egypt and the US urged Israel and Hamas to attend negotiations on a ceasefire and hostage release deal on 15 August. Israel responded saying it would send a team of negotiators to take part in the meeting. Negotiations faltered last month, after new terms were introduced to the framework presented by US President Joe Biden in May. The leaders of the UK, France and Germany issued a joint call for talks to resume, saying there can be no further delay. UK Prime Minister Sir Keir Starmer, French President Emmanuel Macron and German Chancellor Olaf Scholz echoed the mediators' call for ceasefire talks to resume in a joint statement.
A US court has convicted a Mozambican former finance minister over a 10-year-old conspiracy that triggered the worst economic crisis in his home country since independence. Manuel Chang was found guilty of accepting pay-offs through US banks for approving secret loans which were intended to pay for a fleet of tuna fishing ships and other projects, leading to the affair being dubbed the "tuna bond" scandal. But the loans were plundered, leaving Mozambique $2bn (£1.5bn) in debt. Chang was arrested in South Africa in 2018, and extradited to the US the following year to face fraud and money-laundering charges. Ten other people have been imprisoned in Mozambique over the scandal, including the son of then-President Armando Guebuza.
Paul Kagame has been sworn in for a fourth term as Rwanda's president after winning 99% of the vote in last month's election. While some hail Mr Kagame for bringing peace and stability to his country after the 1994 genocide, others accuse him of running a repressive regime in a country where ordinary people are afraid to criticise him openly. Rights groups say the margin of his electoral victory is proof of the lack of democracy in Rwanda. Only two candidates were allowed to stand against Mr Kagame in the 15 July election.
The Federal Ministry of Health and the Nigeria Centre for Disease Control and Prevention have designed a health declaration form for international passengers to guide against the surging new strain of monkeypox in some African countries from spreading to Nigeria. The new variant of monkeypox started ravaging African countries especially DR Congo in September 2024. Deadlier and more transmissible than previous forms, the mpox strain, known as the Clade Ib subclade, spread from person to person. The World Health Organisation says it was considering convening an expert committee to advise on whether to declare an international emergency, as it did during the global mpox outbreak in 2022.
The Lagos Rail Mass Transit Blue Line will from Monday, 12th August 2024 increase its number of trips from 54 to 72 per day. The Managing Director of Lagos Metropolitan Area Transport Authority, Engr. Abimbola Akinajo says Blue Line train riders will now travel between Marina and Mile 2 in just about 18 minutes from the previous travel time of 25 minutes. She says the implication is that there would be a train every 18 minutes both ways, thus allowing commuters to plan their trips. Akinajo says a 25 per cent discount has also been reintroduced for commuters travelling within the off-peak period set at 10.00 am and 4.00 pm daily. The managing director of LAMATA adds that the new train schedule is potentially expected to reduce journey times, encourage more riders to use the train system during off-peak periods and reduce transport spending.
The Nigerian Air Force has announced the destruction of 13 illegal refining sites and ten overhead tanks. The Director of Public Relations and Information of the Air Force, Air Vice Marshal Edward Gabkwet says operations conducted along the Imo River near Obuzor and Okoloma, several active illegal refining sites were discovered to be taking advantage of the difficult terrain to perpetrate their illegalities. The statement further added that while the crew extended their patrol downstream, they spotted a six-tyre tipper truck along the riverbank with four canoes seen loading illegal products into the car and after a thorough scan of the area and observing the criminals dispersed in disarray upon sitting the aircraft, the truck as well as the canoes, were attacked and destroyed.
The management of the National Youth Service Corps has denounced what it described as misleading information circulating in the media regarding the payment of ₦70,000 minimum wage to corps members. The Director, of Information and Public Relations of the Corps, Eddy Megwa, says corps members, parents and members of the public should note that no directive has been received from the relevant sector of government responsible to raise the allowance of corps members. He explained that corps members already know the approved channel and mode of communication in the scheme and should therefore ignore misleading information accordingly.
President Volodymyr Zelensky says Ukraine has received its first American-made F-16 fighter jets. Ukraine’s leader thanked allies for what they were once very hesitant to provide - though he added that many more were needed. The arrival of the jets marks a crucial milestone in boosting the capabilities of Ukraine's air force, which largely relies on old Soviet-era jets. He says more F-16s are expected and hoped in the months ahead, though Ukraine does not yet have enough trained pilots to fly them all. He did not specify how many aircraft had arrived in Ukraine - or whether they had all been sent by Denmark, the Netherlands and the US, which he specifically thanked.
Stock markets across Asia plunged on Monday, following big falls last week by major indexes around the world. In Japan, the Nikkei 225 index fell by 12.4%, or 4,451 points - its largest points drop in history, while the broader Topix index lost 12.2%. It comes after weak jobs data in the US on Friday sparked concerns about weakness in the world's largest economy. A stronger yen makes Japanese goods more expensive, and consequently less attractive to potential overseas buyers. India's main index, the NSE Nifty 50, was trading 2.8% lower and the S&P/ASX 200 in Australia was down about 3.6%. The Hang Seng in Hong Kong was down 2.5%, while the Shanghai Stock Exchange was 1.4% lower.
Ethiopia has secured a $3.4 billion loan from the IMF after floating its currency as part of the reforms to ease the country’s foreign currency shortages and attract foreign investments. IMF says the four-year financing package will support the authorities’ Homegrown Economic Reform Agenda to address macroeconomic imbalances, restore external debt sustainability, and lay the foundations for higher, inclusive, and private sector-led growth. The National Bank of Ethiopia has maintained a managed FX rate system, causing chronic dollar shortages affecting importers and foreign investors repatriating profits. The birr slumped 30% to 74.73 per dollar after the central bank removed restrictions on the FX market and committed that the regulator would only make limited interventions.
A court in Guinea has sentenced former military ruler Moussa Dadis Camara to 20 years in prison for crimes against humanity. The charges stemmed from one of the worst massacres in the nation's history - the killing of more than 156 people after troops opened fire at a rally held in September 2009 to demand a return to civilian rule. Camara and seven of his military commanders were convicted, while four others were acquitted. He denied any involvement in the stadium massacre. His lawyer described the ruling as politically motivated and said they would appeal.
Mali says it has cut diplomatic relations with Ukraine after a military official suggested Kyiv had played a role in deadly fighting near the Algerian border last month. Dozens of Malian soldiers and mercenaries from Russia's Wagner group were killed in days of clashes with Tuareg separatist rebels and fighters linked to al-Qaeda. Andriy Yusov, a spokesman for Ukrainian military intelligence, says that the rebels had been given the necessary information to conduct the attacks. A top Malian official, Colonel Abdoulaye Maiga, said his government was shocked to hear the claim and accused Ukraine of violating Mali's sovereignty. He says Mali has decided to break off relations "with immediate effect. Reports say the Malian and Russian forces were ambushed by Tuareg rebels and fighters from al-Qaeda affiliate Jamaat Nusrat al-Islam wal-Muslimin while waiting for reinforcements, after retreating from Tinzaouaten.
The Minister of Budget and Economic Planning, Atiku Bagudu, has expressed dissatisfaction with the inadequate support from international development partners, noting that the government had anticipated greater assistance for its reform efforts to yield results. He says the international bodies have not provided enough support to consolidate the bold, courageous, and risky reforms undertaken by the current administration since its inception over a year ago. He advocated enhanced international development assistance to African countries, suggesting that it should be more proportional to their populations.
The Minister of Agriculture and Food Security Abubakar Kyari says the country expects a bumper harvest before year-end. Food inflation has reached 40 per cent according to data from the National Bureau of Statistics, pushing the prices of essential commodities beyond the reach of millions of Nigerians. Kyari however says the Federal Government has measures in place to address the situation including ramping up farming which would increase food production. He says one of the reasons for the acute food shortage in the country at the moment is also linked to seasonal reasons.
President Nicolás Maduro has won Venezuela's presidential election, according to partial results announced by the electoral council. The head of the National Electoral Council, Elvis Amoroso - who is a close ally of Mr Maduro - says that with 80% of ballots counted, President Maduro had 51% of the vote, compared to 44% for his main rival. The Venezuelan opposition dismissed the CNE's announcement as fraudulent and promised to challenge the result. It says its candidate, Edmundo González, had won with 70% of the votes and insisted he was the rightful president-elect.
Canadian nationals, along with those from Germany, the US, the UK and 29 other countries, will require a visa to enter Namibia from next April. These include all non-reciprocating countries which means the new visa rules will affect citizens from all countries that require Namibian passport holders to have visas. Namibia’s immigration ministry says Namibia has extended gestures of goodwill and favourable treatment to nationals of various countries however, despite these efforts, certain nations have not reciprocated. The ministry says these visitors will be able to buy their 90-day visa, costing $90, on arrival in Namibia - unlike the requirements placed on African passport holders who need to get their visas beforehand.
The Central Bank of Nigeria has clarified that only accounts that have been inactive for over 10 years are eligible to be classified as dormant and will be used for investment purposes. It also stated that a dedicated office would be created to manage dormant accounts and unclaimed balances. The Guidelines on the Management of Dormant Accounts, Unclaimed Balances and Other Financial Assets in Banks and Other Financial Institutions in Nigeria is a policy issued by the CBN that seeks to operationalise Section 72 of the Banks and Other Financial Institutions Act, 2020 and standardise the management of dormant accounts and unclaimed balances. The CBN had earlier disclosed that it might invest funds from dormant accounts, unclaimed balances in Nigerian Treasury Bills, and other government securities. The apex bank will manage these funds in trust, refunding the principal and any accrued interest to beneficiaries within 10 working days of receiving a reclaim request from the financial institution.
Human rights lawyer Ebun-Olu Adegboruwa has asked the Nigerian Communications Commission to probe telecommunication operators’ alleged disconnection of subscribers ahead of the planned #EndBadGovernance nationwide protest. The Senior Advocate of Nigeria warned that telcos should not attempt to sabotage the forthcoming protest against economic hardship in Nigeria by restricting internet access among displeased citizens. He says the contract between telecom companies and their subscribers remains sacrosanct and should not be tampered with arbitrarily.
The United States, United Kingdom, and Canada have issued security alerts to their citizens in Nigeria, warning of potential violence during the planned nationwide protests. The development comes from a planned nationwide protest against hunger and hardship slated to take off from August 1, 2024. In separate travel advisories, the three countries cautioned their citizens to avoid areas where confrontations between security agencies and protesters might occur. The alert highlighted the potential for roadblocks, checkpoints, traffic congestion, and physical confrontations. They advised vigilance, adherence to local authorities’ instructions, and continuous monitoring of local media for updates.
Egyptian fintech giant MNT-Halan, the country’s only private unicorn, has raised another $157.5 million in a new funding round. MNT-Halan, The microfinance lending and payment company runs a hybrid business model. It targets customers lacking access to credit and financial services, and serves as a distribution medium for merchants selling fast-moving consumer goods (FMCGs). The company acquired Advans Group in Pakistan, instantly topping its user base by 62,000, and obtaining a microfinance bank licence to continue operating in Pakistan. MNT-Halan’s expansion philosophy is simple: To expand into populated, underserved areas that are heavily cash-reliant. With this new funding, MNT-Halan is setting its sights beyond Egypt. Nakhla highlighted plans to expand regionally through strategic acquisitions.
United States President Joe Biden has heeded calls to withdraw his re-election bid, thrusting this year’s already high-wire race for the White House into an uncertain territory. The announcement by the sitting president in US history came amid mounting pressure from his fellow Democrats, with more than 30 Congress members publicly pushing for his exit. Biden, says he will remain in his role as president and commander-in-chief until his term ends in January 2025 and will address the nation this week. Biden says he has intended to seek reelection but I believe it is in the best interest of the party and the country to stand down and to focus solely on fulfilling his duties as President for the remainder of his term.
Zambia's President Hakinde Hichilema has fired the entire board of the country's corruption-busting body after they were accused of corruption, which they deny. The head of the Anti-Corruption Commission (ACC), Thom Shamakamba, resigned from his post and the country's solicitor-general - Marshal Muchende - were accused of taking kickbacks which they strongly deny the allegations. The whistleblower, O’Brien Kaaba - who was once a board member of the ACC says the same "immunity deals" under the former governing party, the Patriotic Front, were now being "used under the current government in a manner that shows no commitment to fighting corruption. He says the ACC must be reformed, alleging that the rot goes beyond the four fired board members and affects the whole institution.
The Federal Government will spend an average of N36bn to convert 30,000 petrol or diesel-powered vehicles to start running on Compressed Natural Gas in the next 90 days. The government says it had acquired 30,000 CNG conversion kits for distribution free of charge nationwide within the period. The Project Director and Chief Executive Officer of the Presidential Compressed Natural Gas Initiative, Michael Oluwagbemi, says President Bola Tinubu is taking steps to ensure transporters use CNG to replace high-priced petrol and diesel, believing this would reduce the cost of transportation and by extension, the rising cost of food items. The PCNGi boss says the President is interested in distributing one million CNG kits to commercial drivers across Nigeria as palliatives.
Nigerian President Bola Ahmed Tinubu wrote to the senate to demand a 50% tax on foreign exchange gains made by banks. The federal government and the National Insurance Commission are developing a bill that demands new information requirements from e-commerce platforms In a new bid to regulate and protect trading on Nigerian e-commerce platforms. The proposed bill requires e-commerce platforms like Jumia and Konga to provide crucial information about themselves, including their legal names, addresses, and phone numbers. The information will be used to communicate with the seller and used in cases of legal proceedings.
The House of Representatives has expressed readiness to investigate allegations that products being produced at the Dangote Refinery are inferior to imported ones, and will also test the refinery’s products as part of its investigation. The Speaker of the House of Representatives, Rt Hon. Tajudeen Abbas, had expressed concern over the controversy surrounding the quality of imported refined products into Nigeria and stated that the Green Chamber would establish a committee to investigate the matter thoroughly. He emphasised that sampled products from various sources would undergo testing as part of this initiative.
Finland’s parliament has passed a controversial bill granting border guards the power to block asylum seekers crossing from Russia. Finland has accused neighbouring Russia of weaponising migration by encouraging many people from countries such as Syria and Somalia to cross the border, an assertion the Kremlin has denied. Helsinki has accused Moscow of promoting the crossings in retaliation for Finland joining NATO, which backs Ukraine against Russia’s invasion. The right-wing government of Prime Minister Petteri Orpo has said the bill is vital to stop future arrivals. Opponents, including several academics, legal experts and human rights groups, say it clashes with the Constitution of Finland, international rights commitments set by the United Nations and pledges by the EU and international treaties signed by Finland.
Telecommunications giant AT&T reports that data of nearly all customers was downloaded to a third-party platform in a security breach. The breach took place largely over five months in 2022. It hit customers of AT&T’s mobile customers, customers of mobile virtual network operators using AT&T’s wireless network, as well as its landline customers who interacted with those cellular numbers. AT&T says the data does not contain the content of calls or texts, personal information such as Social Security numbers, dates of birth, or other personally identifiable information. AT&T, however, said that there are often ways using publicly available online tools to find the name associated with a specific telephone number.
Kenya’s police chief has resigned after criticism of officers’ conduct during recent antigovernment demonstrations in which dozens of protesters were killed. The presidency says that President William Ruto has accepted the resignation of Inspector General of Police Japhet Koome, who has served in the role since November 2022. Deputy Inspector-General Douglas Kanja has been appointed acting police chief with immediate effect. The announcement came a day after Ruto sacked nearly his entire cabinet, bowing to the demands of protesters. Some of the young people behind the demonstrations had called for Koome to go, with police accused of using excessive force during the protests, the most serious crisis of Ruto’s near two-year presidency.
Rwanda's President Paul Kagame, feared and admired in equal measure, is seeking to extend his 24-year rule in an election analysts say he will win by a landslide. He has dominated every election since becoming president in 2000, with over 90% of the vote. In 2017 he won with a staggering 99%. President Kagame has been at the helm of Rwandan politics since his rebel forces took power at the end of the 1994 genocide which killed some 800,000 ethnic Tutsis and moderate Hutus. Mr Kagame has always fiercely defended Rwanda's record on human rights, saying his country respects political freedoms.
Dangote Group has announced that the group intends to list its multibillion-dollar companies – Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited, on the Nigerian Exchange Group in the first quarter of 2025. The move will allow Nigerians to participate in the ownership of these companies, for the benefit of all. Dangote says that this transformation was driven by the overarching goal of achieving self-sufficiency in key sectors and bolstering Nigeria’s economy. Dangote confirmed that the refinery will commence petrol processing in July and underscored government assurances on compliance with the Domestic Crude Oil Supply Obligations under the Petroleum Industry Act.
A Court of Appeal in the United Kingdom dismissed the Process & Industrial Development appeal on a previous judgment halting the enforcement of its $11 billion award against Nigeria. In a unanimous decision, the Lead Judge, Lord Justice Snowden, permitted P&ID to appeal the judgment but dismissed the appeal. The company argued that Nigeria funded its legal services by exchanging naira from its consolidated revenue fund. Snowden, the lead judge, accepted the arguments of Nigeria that since the legal cost was paid in sterling, the cost order should be paid in the same currency.
Aliko Dangote says the Nigerian National Petroleum Company Limited now owns a 7.2% stake in the Dangote Petroleum Refinery, and not a 20% stake as initially announced before the facility's inauguration at the Lekki Free Trade Zone. Dangote says NNPC’s stake dropped to 7.2% over the company’s failure to pay the balance of their share, which was due in June. The NNPC had acquired a 20 per cent interest in the $20bn Dangote refinery for $2.76 billion. The NNPC confirmed the development in a statement saying NNPC Limited periodically assesses its investment portfolio to ensure alignment with the company’s strategic goals.
The director general of the World Trade Organization (WTO), Dr Ngozi Okonjo-Iweala says Global trade is seeing increasing protectionism, some undermining of the WTO rules, and some of this is leading to fragmentation. She says Global trade is really part of the lifeblood for making countries resilient - and also for underpinning growth which is what they are concerned about. President Biden has increased import taxes on a range of other Chinese products that he said formed the industries of the future. EU trade commissioner Valdis Dombrovskis says that Europe does not want to close the market for EVs saying they welcome imports and competition, but this competition must be fair.
One of Hollywood's oldest companies, Paramount Global, has agreed to merge with independent film studio Skydance Media. Under the deal, Paramount's non-executive chair Shari Redstone will sell her family's controlling stake in the company in a complex transaction that will result in a new firm worth around $28bn. The merger would combine Paramount, home of classic films such as Chinatown and Breakfast at Tiffany's, with its financial partner on several recent big releases, including Top Gun: Maverick and Star Trek Into Darkness. Under the agreement, Skydance will invest around $8bn in Paramount, including paying $2.4bn for National Amusements, which controls the group.
Boeing has agreed to plead guilty to a criminal fraud conspiracy charge after the US found the company violated a deal meant to reform it after two fatal crashes by its 737 Max planes that killed 346 passengers and crew. The Department of Justice says the plane maker had also agreed to pay a criminal fine of $243.6m (£190m). However, the families of the people who died on the flights five years ago have criticised it as a "sweetheart deal" that would allow Boeing to avoid full responsibility for the deaths. The settlement must now be approved by a US judge.
Niger's military leader, speaking alongside the junta chiefs from Mali and Burkina Faso, has said they are irrevocably turning their backs on the wider West African bloc, Ecowas. The three men are meeting together for the first time to cement an alliance created in the face of opposition from neighbouring countries. Soldiers took power in Mali, Burkina Faso and Niger in a series of coups from 2020 to 2023. Gen Abdourahmane Tchiani, says that in the place of Ecowas, the junta chiefs wanted to build a community of sovereign peoples "far from the control of foreign powers. A community of peace, solidarity, prosperity based on our African values.”
Sir Keir Starmer has confirmed the Rwanda deportation scheme is "dead and buried", on his first full day as prime minister. The Labour leader says he would end the gimmick of deporting migrants arriving in the UK illegally to Rwanda, which was established by the previous Conservative government. Labour campaigned on a manifesto pledge to scrap the scheme, which has already cost around £310m, promising a more effective approach to tackling illegal immigration to replace it. He argued the scheme has "never been a deterrent" as it would only deport "less than 1%" of small boat arrivals.
The Nigerian Government released ₦1.23tn to 17 ministries for the execution of capital projects in the third quarter of 2023. The Budget Implementation Report for Q3, 2023 released by the Budget Office on Sunday, was 75.4 per cent lower than the ₦5trn allocated for capital expenditure in the 2023 budget, resulting in a deficit of ₦3.8tn. The projects usually involve the construction, acquisition, or renovation of tangible assets such as buildings, roads, bridges, dams, schools, hospitals, and other facilities. The report also showed that the ministries only utilised ₦962.87bn out of the cash backing of ₦1.23tn.
The Director General National Emergency Management Agency (NEMA), Zubaida Umar has activated all Zonal, Territorial and Operation offices of the agency nationwide, to work with the States’ Emergency Management Agencies (SEMAs) within their area of responsibilities, to carry out rescue operations and conduct assessment of the situation. NEMA says it also operates a toll-free emergency contact line: 0800CALLNEMA (080022556362) in addition to all its social media platforms, through which feedback from members of the public can be received nationwide. The agency also said it is conducting a rapid assessment to determine any further assistance that may be required in the impacted communities.
The Lagos State Government has issued a 48-hour eviction notice to property owners who have built illegal structures and to settlers along the Gbagada-Bariga Channel. The Lagos State Commissioner of Environment and Water Resources, Tokunbo Wahab, says property owners who deliberately built structures that obstruct the free flow of water in the area will be removed. He says the operatives of the Lagos State Ministry of the Environment and Water Resources will remove those contravening structures to deflood the area.
Kenya's High Court has approved the use of military force to restore order, following days of anti-tax protests that at some point overwhelmed police. More than 20 people have reportedly been killed in the nationwide protests that are largely led by young people opposed to government plans to increase taxes. Armoured military vehicles patrolled streets in the capital, Nairobi as police fired tear gas to disperse protesters, who had threatened to storm the presidential palace. A judge said that the military deployment was critical to protect government installations but gave the authorities two days to clarify how long the deployment would last, along with its rules of engagement.
South Africa's President Cyril Ramaphosa has unveiled a new coalition government after his ruling African National Congress party lost its parliamentary majority in May's elections. He says the government of national unity is unprecedented in the history of democracy. The ANC will have 20 out of 32 cabinet posts, while the Democratic Alliance (DA) - until now the main opposition party - will hold six. Six other portfolios are shared amongst smaller parties. In the new cabinet, the ANC will keep key ministries such as defence, finance and foreign affairs. The DA's portfolios include home affairs and public works. Party leader John Steenhuisen will lead the agriculture ministry.
Toyota Nigeria Limited has announced plans to roll out three electric vehicles in the country in the next three years as part of its support for the government’s green deal initiative. Managing Director of TNL, Mr. Kunle Ade-Ojo says the end of this year, they will be introducing the first hybrid electric vehicle, the Toyota Cross, the RAV4 hybrid and late next year or early 2026 the Land Cruiser Prado hybrid. He also says TNL would be lending its big network of workshops to support the Federal Government’s campaign for the use of Compressed Natural Gas-powered vehicles through conversion.
The Nigerian Upstream Petroleum Regulatory Commission has removed five oil blocks from the ongoing licensing round due to legal disputes as investors begin registration for the 2024 Licensing Round. The five oil blocks are said to be under various litigation. The Nigerian Upstream Petroleum Regulatory Commission confirmed the development. The affected assets are PPL3008, PPL3009, PML51, PPL267, and PPL268. The five blocks were among the 12 initially announced by the NUPRC Chief Executive, Gbenga Komolafe, at the Miami International Roadshow for the 2024 licensing round hosted by the NUPRC in collaboration with the Petroleum Technology Association of Nigeria and Zetse Advisory & Consulting.
The Lagos State says it is receiving additional support from the World Health Organisation, as it now battles an outbreak of Cholera at the Kirikiri prison. The Lagos State Commissioner for Health, Professor Akin Abayomi, says an outbreak of 25 cases of severe gastroenteritis caused by Cholera occurred at Kirikiri Medium Security Prison, adding that urgent medical and environmental intervention measures have been implemented with success. Abayomi revealed that although no new cholera-related deaths have been reported in the last 72 hours, the government was intensifying countermeasures to eliminate transmission. Professor Abayomi noted that residents are adhering to public health information and advice on safety measures and the need for early presentation to health facilities when symptoms develop.
President Bola Tinubu has condemned the suicide bomb blast in Borno State, describing it as a desperate act of terror. 18 people were killed when four suicide bombers set off improvised explosive devices (IEDs) in Gwoza, the North-Eastern state. Presidential spokesman, Ajuri Ngelale, conveyed the President’s condolence message. President Tinubu describes the attacks as desperate acts of terror and a clear manifestation of the pressure mounted against terrorists and the success achieved in degrading their capacity to launch offensives. The Commander-in-Chief maintained that his administration is taking necessary measures to secure citizens, stressing that efforts will be redoubled to ensure that those who trouble the nation, dispatching precious lives, and disrupting law and order are completely removed
Nigerians have resorted to loans as one of their survival strategies, as a report by the Central Bank of Nigeria, said consumer credit jumped by 12 per cent to approximately ₦3.9bn in January 2024, riding on the back of majorly heightened inflation. The apex bank’s latest monthly economic report, says the total consumer credit outstanding increased to N3,823bn in January 2024. The report further explained that a disaggregation of consumer credit revealed, that personal loans increased by 14.3 per cent to N3,028bn from N2,649bn in December 2023. A study by SBM Intelligence found that 27 per cent of Nigerians across different income categories now resort to loan apps to keep up with their living expenses in the wake of record inflation.
World leaders at the Ukraine summit for peace in Switzerland are exploring ways of ensuring the security of nuclear sites and of Ukraine's food exports. They are seeking to adopt a final communique which blames the war's widespread suffering and destruction firmly on Russia, which Kyiv would regard as a success. But Austria's leader has said that the declaration is not expected to gain unanimous support from participants. More than 90 countries and international organisations are attending the summit, aimed at creating the broadest possible backing for a process that could help end the war in Ukraine. Russia has not been invited, and its biggest backer China is not present, leading some to cast doubt on the summit's effectiveness. The draft final document, seen by Reuters news agency, calls for Ukrainian control to be restored over the Zaporizhzhia nuclear power plant and the country's ports on the Azov Sea, all currently occupied by Russia.
The Israeli military says it will hold a daily "tactical pause of military activity" along a road in southern Gaza to enable more humanitarian aid to enter, but emphasised that there is no ceasefire and combat would continue in Rafah. They will only affect a route that leads northwards from the key Kerem Shalom crossing, which Gaza shares with Israel. Aid agency ActionAid told the BBC it was getting a "confused" picture over what the pauses mean. Israel has been under continuous pressure from its allies, including the US, to prevent the humanitarian crisis in Gaza from worsening. The Israel Defense Forces says Sunday's announcement follows "additional related discussions with the UN and international organizations". The IDF clarified that there is no ceasefire in the southern Gaza Strip, and fighting would continue in Rafah.
A democratically elected president who was kicked out of power by the military a year ago should now lose his immunity from prosecution, Niger's top court has ruled. That decision by the newly created body clears the way for Mohamed Bazoum, 64, to be tried by a military court. He and his wife Hadiza have been detained in the president palace without a telephone since the coup last July. Since then, Niger's new military leaders have brought in drastic policy changes - including severing defence and diplomatic ties with former colonial power France and pivoting towards Russia. The ruling junta in the capital, Niamey, has been legally empowered to prosecute him on charges of treason, undermining national security and financing terrorism. Mr Bazoum's lawyers have called the process a "travesty" and withdrew from a hearing last week.
South Africa's governing African National Congress (ANC) and the main opposition Democratic Alliance (DA) have agreed to form a government of national unity, along with two smaller opposition parties. This follows weeks of speculation about who the ANC would partner with after losing its parliamentary majority for the first time in 30 years, in last month's elections. It got 40% of the vote, while the DA came second with 22%. The agreement paves the way for ANC leader Cyril Ramaphosa to remain president. ANC secretary-general Fikile Mbalula says the coalition deal is on track and that the agreement with opposition parties is a "remarkable step". DA leader John Steenhuisen said the deal was a "new chapter in our history".
The President of the Dangote Group, Alhaji Aliko Dangote, says it is expanding the storage capacity of his refinery by 600 million litres. He says This will enable the refinery to have a storage capacity of 5.3 billion litres. The Dangote Petrochemical Refinery currently has 4.78 billion litres of storage capacity for refined petroleum products. Dangote alleged that international oil companies refused to sell crude oil to his refinery because they did not want him to succeed. The business mogul said the refinery would be a strategic reserve for refined products. Dangote asked the Federal Government to enforce regulations stopping the importation of dirty fuels.
Cholera has killed 15 persons in Lagos State with 350 suspected cases reported in the state. The Lagos Ministry of Health says there are 17 confirmed cases of cholera in the state. Lagos State Commissioner for Health Professor Akin Abayomi revealed that 350 suspected cases of cholera were reported in 29 wards across multiple LGAs in Lagos State with 17 confirmed cases and 15 fatalities so far. The health commissioner says the laboratory investigation and test results have confirmed Cholera sub-type O-1. This subtype is associated with more severe disease. According to our ongoing surveillance and monitoring updates, the pattern of new cases per day varies across LGAS. He says there is a need for residents to adhere strictly to precautionary, personal, and environmental hygiene measures.
Nigeria’s inflation rate increased to 33.95 per cent in May 2024, the National Bureau of Statistics disclosed in its latest data. The NBS Consumer Price Index report shows an increase of 0.26% points when compared to the April 2024 headline inflation rate, The data revealed that on a year-on-year basis, the headline inflation rate was 11.54% points higher compared to the rate recorded in May 2023, which was 22.41%. A month-on-month basis, the headline inflation rate in May 2024 was 2.14%, which was 0.15% lower than the rate recorded in April 2024 (2.29%). The NBS report also revealed that the Food inflation rate in May 2024 was 40.66% on a year-on-year basis, which was 15.84% points higher compared to the rate recorded in May 2023 (24.82%).
State governors have called on the federal government to enforce a no-meter, no-service policy for all new electricity connections in the country. State governments highlighted the critical importance of electricity meters in bridging the significant metering gap, which is essential for the viability of sub-national markets. The states also argued that State Electricity Regulatory Commissions (SERCs) should have the autonomy to determine the most suitable meter technology, type, and form for deployment within their respective electricity markets. This is as the states are getting set to eliminate electricity subsidies in their territories as more states gear up to join others in running their different power markets under their own laws.
Burkina Faso's military government has announced it will extend junta rule for another five years. The country's ruler, Capt Ibrahim Traoré, will also be able to contest the next presidential election. Burkina Faso has now joined neighbouring Mali in extending military rule. The move was announced after a national consultation meeting in the West African country's capital city, Ouagadougou. An amended charter, signed by Capt Traoré, states that the new 60-month transition period will take effect from 2 July this year.
The Federal Government stated that there are ongoing plans to establish six mineral centres in the six geo-political zones to boost the mining sector. The Minister of Solid Minerals Development, Dr Dele Alake, says that the plan was part of the President Bola Tinubus administration’s commitment to diversify the country’s economy, by developing key sectors such as the solid minerals industry. He says the centres are also part of the government’s commitment to promoting value addition to its minerals, aimed at facilitating multiplier effects on the economy.
The International Air Transport Association has confirmed that the Central Bank of Nigeria has cleared foreign airlines trapped funds worth $831m from June last year to date. The Geneva, Switzerland-based IATA say the development had brought international airlines’ trapped funds globally to about $1.8bn. The association representing international airlines says the remaining $19m was awaiting the CBN verification through commercial banks. The IATA boss, however, praised the Nigerian government for their efforts in ensuring the successful repatriation of the funds by the international airlines.
The Economic Community of West African States has allocated $9 million to aid refugees, internally displaced persons, and stateless individuals in its member nations. Nigeria received $1 million to assist terrorism victims in the North East. The Chair of the ECOWAS Permanent Representative Committee Musa Nuhu said this during the 2024 ECOWAS Ambassadors Retreat held in partnership with the United Nations High Commissioner for Refugees in Port Harcourt, the Rivers State capital. The organisers emphasized the need to address forced displacements caused by violence, political instability, and climate change. The ECOWAS Commissioner for Human Development and Social Affairs Professor Fatou Sow Sarr underscored the importance of collective efforts in achieving the common objectives of all stakeholders. She noted that contributions from partners are crucial for the success of various projects.
Lagos State government, through the Ministry of Innovation, science and Technology has set up a Cyber Security Operations Center. The Lagos State Commissioner for Science, Innovation and Technology, Olatunbosun Alake, says the Centre was established to identify, monitor and respond to cyber threats against the state’s digital infrastructure in real time. He added that the initiative involves partnerships with leading cybersecurity firms and international organisations. These collaborations will equip the state with cutting-edge technologies and expertise, significantly improving its defences against advanced cyber threats. He mentioned that Lagos has an established cybersecurity council consisting of a team of experts drawn from both the government and the private sector.
Russian President Vladimir Putin plans to remove Sergei Shoigu as defence minister as part of a cabinet reshuffle, making him secretary of the Security Council instead. The Kremlin says Andrei Belousov, a former deputy prime minister who specialises in economics, will become the new defence minister. Kremlin spokesman Dmitry Peskov says that Putin had decided to give the defence portfolio to a civilian because the ministry should be “open to innovation and cutting-edge ideas” and Belousov was the right fit for the job.
Plans to introduce new taxes and increase existing ones have triggered widespread criticism in Kenya. The price of bread is set to climb after the national treasury proposed removing the staple product from a value-added tax exemption list. The costs of mobile money transfers, airtime and data are also set to go up as the government seeks to raise an additional $2.4bn in taxes, in the financial year that starts in July. The government also proposed a new motor vehicle tax that will see drivers pay up to $750 annually to keep their vehicles on the road. The tax hikes are part of a series of financial measures introduced by President William Ruto's government to fund its extensive infrastructure and social programmes.
Egypt says it will formally join the case filed by South Africa against Israel at the International Court of Justice (ICJ), which accuses Israel of violating its obligations under the Genocide Convention in its war on the Gaza Strip. The Egyptian Ministry of Foreign Affairs says that Cairo intended to join the case due to escalating Israeli aggression against Palestinian civilians. South Africa brought its case against Israel in January, accusing the country of committing genocide against Palestinians in Gaza. The death toll from Israel’s war on Gaza, which began in October, has surpassed 35,000, and most of the dead are women and children, according to Palestinian authorities.
Rwanda's government has denied accusations that it armed a rebel group alleged to have carried out a grenade attack in Burundi's economic hub, Bujumbura. Pierre Nkurikiye, the spokesperson for Burundi's interior ministry says at least 38 people were injured in Friday's attack. Rwanda's government dismissed the allegations saying it has absolutely no connection" with the attack and had no reason to be involved in it. Red Tabara, the group accused of executing the grenade attack, has also denied responsibility, saying it does not attack innocent civilians. Rwanda's relationships with neighbouring nations Burundi and the Democratic Republic of Congo have become strained in recent years.
The Head of the Directorate of Valuation Standards, Financial Reporting Council of Nigeria, Ugochukwu Nwora, says that the council has assembled relevant professionals to produce valuation regulations for the country. He says this regulation will be the first of its kind in Nigeria and the council will showcase the exposure draft to the public before launching it in July and the valuation regulations will guide all professional valuers and firms in Nigeria. Nwora noted that the FRC would standardise and regulate submissions, ensuring consistency and adherence to asset valuation standards.
The International Monetary Fund has warned the Nigerian government to remove what it called implicit fuel and electricity subsidies. The organisation told Nigeria that the subsidies would guzzle three per cent of the nation’s Gross Domestic Product in 2024 as against one per cent in the year before. The IMF commended the Federal Government for, among other things, phasing out costly and regressive energy subsidies”, saying this was critical to creating fiscal space for development spending and strengthening social protection while maintaining debt sustainability. IMF noted, however, that “adequate compensatory measures for the poor were not scaled up promptly and subsequently paused over corruption concerns.
Chad is set to become the first of Africa's current junta-led states to move to democratic rule with Monday's presidential vote. It will end a three-year transition imposed after the sudden death of long-serving leader Idriss Deby Itno while fighting rebels. Prime Minister Succès Masra is among his nine challengers and is seen as his biggest rival. Ten other politicians who had been hoping to run, including two prominent figures, Nassour Ibrahim Neguy Koursami and Rakhis Ahmat Saleh, were excluded by the constitutional council because of irregularities.
The Federal Airports Authority of Nigeria says it has concluded plans with the Office of the National Security Adviser to reduce the number of security checkpoints at the country’s airports. The Managing Director of FAAN, Olubunmi Kuku says the agency and the office of the NSA have agreed to carry out short and long-term measures to address the issue. Kuku noted that the issue of multiple security checkpoints was the first challenge she took up upon the assumption of office. The FAAN MD added that she has had productive conversations with the National Security Adviser, Nuhu Ribadu to craft viable solutions to the issue.
The Socio-Economic Rights and Accountability Project has filed a lawsuit against the Minister of the Federal Capital Territory, Nyesom Wike before the Federal High Court in Abuja. Also joined in the suit were the 36 state governors over over their failure to account for and publish the agreements of the N5.9 trillion and $4.6 billion loans obtained by their states and the FCT, respectively. SERAP Deputy Director, Kolawole Oluwadare, says the group asked the court to direct and compel the governors and Mr. Wike to account for N5.9trn and $4.6bn loans obtained by their states and the FCT and to publish copies of the loan agreements, location of projects executed with the loans.
Governor Abba Yusuf has laid the foundation for a ₦15bn three-layer interchange bridge at Kofar Dan’agundi in a move to transform Kano into a mega city, and alleviate traffic congestion, Governor Yusuf emphasised the significance of enhancing traffic flow to elevate Kano’s status to that of a mega city. The project, awarded to CCG Nigeria Limited in December 2023, boasts a completion period of eighteen months. It is part of a comprehensive initiative that includes another high-impact interchange bridge at Talidu roundabout, strategically positioned to mitigate traffic congestion. Gee Wang, Project Manager of CGC Nigeria Limited, expressed confidence in meeting the project’s timeline.
Dubai has started work on a $35bn airport terminal that is set to have the world’s largest capacity upon completion, the emirate’s ruler has said. Dubai’s Prime Minister and Vice President Sheikh Mohammed bin Rashid Al Maktoum said that the new terminal would be five times the size of the current Dubai International Airport and handle up to 260 million passengers annually. Sheikh Mohammed says All operations at Dubai International Airport will be transferred to the newer Al Maktoum International Airport over the coming years.
Burkina Faso’s media regulator has suspended more international media outlets over their coverage of a report accusing the Burkinabè army of killing civilians. The military government has now banned the French network TV-Cinq and the websites of Le Monde and the Guardian, as well as the German broadcaster, Deutsche Welle. The suspension comes days after the Burkinabè authorities imposed a two-week ban on BBC and US public broadcaster Voice of America for covering the same Human Rights Watch report. The Superior Council for Communication says that the coverage of the HRW report by the newly suspended outlets "constitutes disinformation likely to bring discredit to the Burkinabè army". The media regulator also reiterated a warning to all media outlets against covering the report, threatening sanctions.
Several African leaders are gathering in Kenya's capital, Nairobi, for the World Bank's International Development Association (IDA21) summit. The two-day summit aims to address development challenges on the continent and work towards creating prosperous, inclusive, and sustainable economies. The IDA is the part of the World Bank that helps the world’s 75 poorest countries, 39 of which are in Africa. Among presidents attending the summit include Andry Rajoelina (Madagascar), Julius Maada Bio (Sierra Leone), Lazarus Chakwera (Malawi), Samia Suluhu Hassan (Tanzania) and Hassan Sheikh Mohamud of Somalia. Others include Évariste Ndayishimiye of Burundi, Mohamed Ould Ghazouani of Mauritania and Comoros' Azali Assoumani.
The Office of the Surveyor General of the Federation has pledged to deploy a Geographical Information System expert for the Border Communities Development Agency to help establish its GIS unit. The Surveyor General of the Federation, Abuduganiyu Adebomehin, reassured the agency of his support and collaboration in the areas of mapping, identification, and information regarding border communities across the country. He noted that it was one thing to have imagery and another to be able to read it.
President Bola Tinubu has insisted that his administration’s decision to remove the petrol subsidy was vital to prevent the country from going bankrupt. Tinubu justified the petrol subsidy removal, maintaining that it was needed to reset the economy. He says Nigeria is immensely consistent with the belief that economic collaboration and inclusiveness are necessary to engender stability in the rest of the world. He added that the subsidy removal was necessary for the country not to go bankrupt, to reset the economy and pathway to growth.
President Bola Tinubu has secured a $600m investment from Danish shipping and logistics firm A.P Moller-Maersk with a deal to help in expanding port infrastructure to accommodate more container shipping services in Nigerian ports. Presidential spokesman Ajuri Ngelale says there was a need to expand the port infrastructure, especially in Lagos, where they need a bigger hub for logistics services. Chairman of A.P Moller-Maersk, Mr Robert Maersk Uggla, says they believe in Nigeria and will invest $600 million in existing facilities and make the ports accommodating for bigger ships.
President Joe Biden has been urged to ban imports of Chinese-made electric cars to the US. The chair of the Senate Banking Committee, Senator Sherrod Brown, wrote that Chinese electric vehicles are an existential threat to the American auto industry. The White House earlier said the US was opening an investigation into whether Chinese cars pose a national security risk. Senator Brown says China will not be allowed to bring its government-backed cheating to the American auto industry. China's vice finance minister, Liao Min, says China's competitive advantages are due to its "large-scale market, complete industrial system and abundant human resources.
President Joe Biden has been urged to ban imports of Chinese-made electric cars to the US. The chair of the Senate Banking Committee, Senator Sherrod Brown, wrote that Chinese electric vehicles are an existential threat to the American auto industry. The White House earlier said the US was opening an investigation into whether Chinese cars pose a national security risk. Senator Brown says China will not be allowed to bring its government-backed cheating to the American auto industry. China's vice finance minister, Liao Min, says China's competitive advantages are due to its "large-scale market, complete industrial system and abundant human resources.
Togo's parliament has given final approval to a new constitution extending the president's term after critics denounced the move as a coup. The West African country will move from a presidential to a parliamentary system. President Faure Gnassingbé's supporters argue the changes reduce his powers by transforming the presidency into a ceremonial role. The opposition however says the reforms remove limits on his stay in office and the removal would enable him to remain president until 2031.
Togo's parliament has given final approval to a new constitution extending the president's term after critics denounced the move as a coup. The West African country will move from a presidential to a parliamentary system. President Faure Gnassingbé's supporters argue the changes reduce his powers by transforming the presidency into a ceremonial role. The opposition however says the reforms remove limits on his stay in office and the removal would enable him to remain president until 2031.
Gauteng province, home to South Africa's major cities of Johannesburg and Pretoria, has officially scrapped tolls on freeways, ending more than a decade of public defiance. Gauteng Premier Panyaza Lesufi says that removing the charges would bring much-needed relief to the people of Gauteng who have had to bear the brunt of paying e-tolls. Transport Minister Sindisiwe Chikunga says that motorists with outstanding fees are expected to clear it, but the ministry does not yet have a mechanism for enforcing the payments.
Gauteng province, home to South Africa's major cities of Johannesburg and Pretoria, has officially scrapped tolls on freeways, ending more than a decade of public defiance. Gauteng Premier Panyaza Lesufi says that removing the charges would bring much-needed relief to the people of Gauteng who have had to bear the brunt of paying e-tolls. Transport Minister Sindisiwe Chikunga says that motorists with outstanding fees are expected to clear it, but the ministry does not yet have a mechanism for enforcing the payments.
Military leaders in the West African nation have sought closer ties with Russia since seizing power in a coup last year. The US also announced that it had agreed to close down its drone base near Agadez, in the Sahara Desert. The US has relied on Niger as its primary base for monitoring regional jihadist activity. Niger has also distanced itself from local democracies and sought stronger regional alliances with fellow junta-led nations Burkina Faso and Mali.
Military leaders in the West African nation have sought closer ties with Russia since seizing power in a coup last year. The US also announced that it had agreed to close down its drone base near Agadez, in the Sahara Desert. The US has relied on Niger as its primary base for monitoring regional jihadist activity. Niger has also distanced itself from local democracies and sought stronger regional alliances with fellow junta-led nations Burkina Faso and Mali.
Ethiopia's first-ever sexual violence registration system is in the works and set to start operations next year, the government has said. The system which aims to prevent and respond to sexual violence against women and children is hoped to make an impact in a country where prosecuting gender-based violence is a major challenge. The anticipated system will hold sex offenders accountable even after they serve time for their crimes. The women's rights and protection executive in the Ministry of Women and Social Affairs Seleshi Tadesse says when it's operational, it will exclude registered sex offenders from working in schools, orphanages and other children's institutions.
Ethiopia's first-ever sexual violence registration system is in the works and set to start operations next year, the government has said. The system which aims to prevent and respond to sexual violence against women and children is hoped to make an impact in a country where prosecuting gender-based violence is a major challenge. The anticipated system will hold sex offenders accountable even after they serve time for their crimes. The women's rights and protection executive in the Ministry of Women and Social Affairs Seleshi Tadesse says when it's operational, it will exclude registered sex offenders from working in schools, orphanages and other children's institutions.
The Nigerian Institute of Electrical and Electronic Engineers has called on the Federal Government to audit all power infrastructure assets in the country. President, Felix Olu advised against the backdrop of the recent poor electricity supply in the country despite an increment in electricity tariff recently announced for Band A customers by the Nigerian Electricity Regulatory Commission. The institute stated that the problems in the power sector were systemic, requiring a redesign of market rules to address issues of reliability and market imbalance. He says the problems within the power sector include transmission infrastructure capacity, inefficient quality service, and the unwillingness of DISCOs to accept loads.
The Nigerian Institute of Electrical and Electronic Engineers has called on the Federal Government to audit all power infrastructure assets in the country. President, Felix Olu advised against the backdrop of the recent poor electricity supply in the country despite an increment in electricity tariff recently announced for Band A customers by the Nigerian Electricity Regulatory Commission. The institute stated that the problems in the power sector were systemic, requiring a redesign of market rules to address issues of reliability and market imbalance. He says the problems within the power sector include transmission infrastructure capacity, inefficient quality service, and the unwillingness of DISCOs to accept loads.
The President of the Nigeria Labour Congress confirmed that the new wage of N615,000 monthly was reached after consultations between the NLC and the Trade Union Congress. The labour unions say the current minimum wage of N30,000 can no longer cater for the well-being of an average Nigerian worker, lamenting that not all governors are paying the current wage award which will expire by April, five years after the Minimum Wage Act of 2019 was signed by former President Muhammadu Buhari. The unions say inflation has affected the cost of living for an average Nigerian worker, noting that state governors can afford to pay every public servant because they now get more monthly revenue allocation by the Revenue Mobilisation Allocation and Fiscal Commission.
The President of the Nigeria Labour Congress confirmed that the new wage of N615,000 monthly was reached after consultations between the NLC and the Trade Union Congress. The labour unions say the current minimum wage of N30,000 can no longer cater for the well-being of an average Nigerian worker, lamenting that not all governors are paying the current wage award which will expire by April, five years after the Minimum Wage Act of 2019 was signed by former President Muhammadu Buhari. The unions say inflation has affected the cost of living for an average Nigerian worker, noting that state governors can afford to pay every public servant because they now get more monthly revenue allocation by the Revenue Mobilisation Allocation and Fiscal Commission.
The Nigerian government plans to commercialise the Federal Mortgage Bank as part of efforts to enhance housing delivery efficiency for Nigerians. The FMBN Managing Director, Shehu Osidi, says the focus was shifted to repositioning and recapitalisation after a series of engagements with the Bureau of Public Enterprise on the need for the bank to stay true to its mandate of affordable mortgage financing. He says the task of advancing the goals of affordable housing and urban development is a major assignment to be solved by all means. He added that the amendments to the FMBN and NFH Acts had also commenced in the National Assembly, noting that the grey areas that hindered the assent to the bill had been rectified.
The Nigerian government plans to commercialise the Federal Mortgage Bank as part of efforts to enhance housing delivery efficiency for Nigerians. The FMBN Managing Director, Shehu Osidi, says the focus was shifted to repositioning and recapitalisation after a series of engagements with the Bureau of Public Enterprise on the need for the bank to stay true to its mandate of affordable mortgage financing. He says the task of advancing the goals of affordable housing and urban development is a major assignment to be solved by all means. He added that the amendments to the FMBN and NFH Acts had also commenced in the National Assembly, noting that the grey areas that hindered the assent to the bill had been rectified.
The EU will vote Wednesday on a vast overhaul of its immigration policies that would notably harden entry procedures for asylum-seekers and require all the bloc’s countries to share responsibility. The European Parliament will decide a series of laws forming the bloc’s migration and asylum pact, based on a European Commission proposal first made in September 2020. The European Union has been striking agreements with several outside countries to try to reduce the number of migrants leaving their territories with the goal of reaching Europe.
The EU will vote Wednesday on a vast overhaul of its immigration policies that would notably harden entry procedures for asylum-seekers and require all the bloc’s countries to share responsibility. The European Parliament will decide a series of laws forming the bloc’s migration and asylum pact, based on a European Commission proposal first made in September 2020. The European Union has been striking agreements with several outside countries to try to reduce the number of migrants leaving their territories with the goal of reaching Europe.
The EU will vote Wednesday on a vast overhaul of its immigration policies that would notably harden entry procedures for asylum-seekers and require all the bloc’s countries to share responsibility. The European Parliament will decide a series of laws forming the bloc’s migration and asylum pact, based on a European Commission proposal first made in September 2020. The European Union has been striking agreements with several outside countries to try to reduce the number of migrants leaving their territories with the goal of reaching Europe.
The EU will vote Wednesday on a vast overhaul of its immigration policies that would notably harden entry procedures for asylum-seekers and require all the bloc’s countries to share responsibility. The European Parliament will decide a series of laws forming the bloc’s migration and asylum pact, based on a European Commission proposal first made in September 2020. The European Union has been striking agreements with several outside countries to try to reduce the number of migrants leaving their territories with the goal of reaching Europe.
Crisis-hit Chinese property developer Country Garden has suspended trade in its shares on the Hong Kong Stock Exchange after delaying the publication of its annual financial results. Country Garden says due to the continuous volatility of the industry, the operating environment the Group confronting is becoming increasingly complex" when it announced its earnings report would be delayed. The firm reported a fall of more than 50% in its annual profit and told investors that it aimed to boost its cash flow by slashing debt over the next two years.
Crisis-hit Chinese property developer Country Garden has suspended trade in its shares on the Hong Kong Stock Exchange after delaying the publication of its annual financial results. Country Garden says due to the continuous volatility of the industry, the operating environment the Group confronting is becoming increasingly complex" when it announced its earnings report would be delayed. The firm reported a fall of more than 50% in its annual profit and told investors that it aimed to boost its cash flow by slashing debt over the next two years.
Crisis-hit Chinese property developer Country Garden has suspended trade in its shares on the Hong Kong Stock Exchange after delaying the publication of its annual financial results. Country Garden says due to the continuous volatility of the industry, the operating environment the Group confronting is becoming increasingly complex" when it announced its earnings report would be delayed. The firm reported a fall of more than 50% in its annual profit and told investors that it aimed to boost its cash flow by slashing debt over the next two years.
Crisis-hit Chinese property developer Country Garden has suspended trade in its shares on the Hong Kong Stock Exchange after delaying the publication of its annual financial results. Country Garden says due to the continuous volatility of the industry, the operating environment the Group confronting is becoming increasingly complex" when it announced its earnings report would be delayed. The firm reported a fall of more than 50% in its annual profit and told investors that it aimed to boost its cash flow by slashing debt over the next two years.
New Zealand has tightened work visa rules in response to unsustainable migration levels. Low-skilled applicants now have to fulfil English-language requirements and are allowed to stay on for three years - down from five previously. Immigration Minister Erica Stanford says getting their immigration settings right is critical to this government's plan to rebuild the economy. Employers are responsible for ensuring that migrants meet the specified requirements before offering them a job. Authorities have also decided to axe earlier plans to add 11 roles, such as welders, fitters and turners, to the list of occupations that would qualify for a fast track to residency.
New Zealand has tightened work visa rules in response to unsustainable migration levels. Low-skilled applicants now have to fulfil English-language requirements and are allowed to stay on for three years - down from five previously. Immigration Minister Erica Stanford says getting their immigration settings right is critical to this government's plan to rebuild the economy. Employers are responsible for ensuring that migrants meet the specified requirements before offering them a job. Authorities have also decided to axe earlier plans to add 11 roles, such as welders, fitters and turners, to the list of occupations that would qualify for a fast track to residency.
New Zealand has tightened work visa rules in response to unsustainable migration levels. Low-skilled applicants now have to fulfil English-language requirements and are allowed to stay on for three years - down from five previously. Immigration Minister Erica Stanford says getting their immigration settings right is critical to this government's plan to rebuild the economy. Employers are responsible for ensuring that migrants meet the specified requirements before offering them a job. Authorities have also decided to axe earlier plans to add 11 roles, such as welders, fitters and turners, to the list of occupations that would qualify for a fast track to residency.
New Zealand has tightened work visa rules in response to unsustainable migration levels. Low-skilled applicants now have to fulfil English-language requirements and are allowed to stay on for three years - down from five previously. Immigration Minister Erica Stanford says getting their immigration settings right is critical to this government's plan to rebuild the economy. Employers are responsible for ensuring that migrants meet the specified requirements before offering them a job. Authorities have also decided to axe earlier plans to add 11 roles, such as welders, fitters and turners, to the list of occupations that would qualify for a fast track to residency.
A Brazilian Supreme Court judge has opened an inquiry into Elon Musk after the multi-billionaire said he would reactivate accounts on the social media platform X, formerly Twitter, that the judge had ordered to be blocked. Mr Musk posted on the platform that the restrictions had been lifted because the court order was unconstitutional. He also called for Justice Alexandre de Moraes to resign or be impeached. Justice Moraes wrote that Mr Musk had launched a disinformation campaign against the Supreme Court. The platform's Global Government Affairs team says the company was not allowed to say which accounts were affected.
A Brazilian Supreme Court judge has opened an inquiry into Elon Musk after the multi-billionaire said he would reactivate accounts on the social media platform X, formerly Twitter, that the judge had ordered to be blocked. Mr Musk posted on the platform that the restrictions had been lifted because the court order was unconstitutional. He also called for Justice Alexandre de Moraes to resign or be impeached. Justice Moraes wrote that Mr Musk had launched a disinformation campaign against the Supreme Court. The platform's Global Government Affairs team says the company was not allowed to say which accounts were affected.
A Brazilian Supreme Court judge has opened an inquiry into Elon Musk after the multi-billionaire said he would reactivate accounts on the social media platform X, formerly Twitter, that the judge had ordered to be blocked. Mr Musk posted on the platform that the restrictions had been lifted because the court order was unconstitutional. He also called for Justice Alexandre de Moraes to resign or be impeached. Justice Moraes wrote that Mr Musk had launched a disinformation campaign against the Supreme Court. The platform's Global Government Affairs team says the company was not allowed to say which accounts were affected.
A Brazilian Supreme Court judge has opened an inquiry into Elon Musk after the multi-billionaire said he would reactivate accounts on the social media platform X, formerly Twitter, that the judge had ordered to be blocked. Mr Musk posted on the platform that the restrictions had been lifted because the court order was unconstitutional. He also called for Justice Alexandre de Moraes to resign or be impeached. Justice Moraes wrote that Mr Musk had launched a disinformation campaign against the Supreme Court. The platform's Global Government Affairs team says the company was not allowed to say which accounts were affected.
Zimbabwe has introduced a new gold-backed currency called ZiG - the name stands for Zimbabwe Gold". Central bank governor John Mushayavanhu said the ZiG would be structured and set at a market-determined exchange rate. The ZiG replaces the Zimbabwean dollar, the RTGS, which had lost three-quarters of its value so far this year. Zimbabweans have 21 days to exchange old, inflation-hit notes for the new currency. Mr Mushayavanhu said the new currency was being rolled out with immediate effect and banks must convert current Zimbabwe dollar balances to the ZiG.
Zimbabwe has introduced a new gold-backed currency called ZiG - the name stands for Zimbabwe Gold". Central bank governor John Mushayavanhu said the ZiG would be structured and set at a market-determined exchange rate. The ZiG replaces the Zimbabwean dollar, the RTGS, which had lost three-quarters of its value so far this year. Zimbabweans have 21 days to exchange old, inflation-hit notes for the new currency. Mr Mushayavanhu said the new currency was being rolled out with immediate effect and banks must convert current Zimbabwe dollar balances to the ZiG.
Zimbabwe has introduced a new gold-backed currency called ZiG - the name stands for Zimbabwe Gold". Central bank governor John Mushayavanhu said the ZiG would be structured and set at a market-determined exchange rate. The ZiG replaces the Zimbabwean dollar, the RTGS, which had lost three-quarters of its value so far this year. Zimbabweans have 21 days to exchange old, inflation-hit notes for the new currency. Mr Mushayavanhu said the new currency was being rolled out with immediate effect and banks must convert current Zimbabwe dollar balances to the ZiG.
Zimbabwe has introduced a new gold-backed currency called ZiG - the name stands for Zimbabwe Gold". Central bank governor John Mushayavanhu said the ZiG would be structured and set at a market-determined exchange rate. The ZiG replaces the Zimbabwean dollar, the RTGS, which had lost three-quarters of its value so far this year. Zimbabweans have 21 days to exchange old, inflation-hit notes for the new currency. Mr Mushayavanhu said the new currency was being rolled out with immediate effect and banks must convert current Zimbabwe dollar balances to the ZiG.
Sierra Leone's president has declared a national emergency over rampant drug abuse. Kush, a psychoactive blend of addictive substances, has been prevalent in the country for years. President Julius Maada Bio called the drug a death trap and said it posed an existential crisis. One of the drug's many ingredients is human bones - security has been tightened in cemeteries to stop addicts digging up skeletons from graves. With a bandage around his ankle, one recovering addict told the BBC the drug has a tight grip on him.
Sierra Leone's president has declared a national emergency over rampant drug abuse. Kush, a psychoactive blend of addictive substances, has been prevalent in the country for years. President Julius Maada Bio called the drug a death trap and said it posed an existential crisis. One of the drug's many ingredients is human bones - security has been tightened in cemeteries to stop addicts digging up skeletons from graves. With a bandage around his ankle, one recovering addict told the BBC the drug has a tight grip on him.
Sierra Leone's president has declared a national emergency over rampant drug abuse. Kush, a psychoactive blend of addictive substances, has been prevalent in the country for years. President Julius Maada Bio called the drug a death trap and said it posed an existential crisis. One of the drug's many ingredients is human bones - security has been tightened in cemeteries to stop addicts digging up skeletons from graves. With a bandage around his ankle, one recovering addict told the BBC the drug has a tight grip on him.
Sierra Leone's president has declared a national emergency over rampant drug abuse. Kush, a psychoactive blend of addictive substances, has been prevalent in the country for years. President Julius Maada Bio called the drug a death trap and said it posed an existential crisis. One of the drug's many ingredients is human bones - security has been tightened in cemeteries to stop addicts digging up skeletons from graves. With a bandage around his ankle, one recovering addict told the BBC the drug has a tight grip on him.
The Federal Government announced that testing has commenced on the 700 megawatts Zungeru Hydroelectric Power Plant ahead of the evaluation of electricity from the facility to the national grid. It also stated that the $1.3bn project had been connected to the national grid, in contrast to claims in some quarters that the plant was not connected to the grid. The Zungeru Hydroelectric Power Plant provides flood control, irrigation water and fish breeding facilities and its construction partners include a consortium of Chinese firms (Sinohydro Corporation Limited and China National Electric Engineering Company).
The Federal Government announced that testing has commenced on the 700 megawatts Zungeru Hydroelectric Power Plant ahead of the evaluation of electricity from the facility to the national grid. It also stated that the $1.3bn project had been connected to the national grid, in contrast to claims in some quarters that the plant was not connected to the grid. The Zungeru Hydroelectric Power Plant provides flood control, irrigation water and fish breeding facilities and its construction partners include a consortium of Chinese firms (Sinohydro Corporation Limited and China National Electric Engineering Company).
The Federal Government announced that testing has commenced on the 700 megawatts Zungeru Hydroelectric Power Plant ahead of the evaluation of electricity from the facility to the national grid. It also stated that the $1.3bn project had been connected to the national grid, in contrast to claims in some quarters that the plant was not connected to the grid. The Zungeru Hydroelectric Power Plant provides flood control, irrigation water and fish breeding facilities and its construction partners include a consortium of Chinese firms (Sinohydro Corporation Limited and China National Electric Engineering Company).
The Federal Government announced that testing has commenced on the 700 megawatts Zungeru Hydroelectric Power Plant ahead of the evaluation of electricity from the facility to the national grid. It also stated that the $1.3bn project had been connected to the national grid, in contrast to claims in some quarters that the plant was not connected to the grid. The Zungeru Hydroelectric Power Plant provides flood control, irrigation water and fish breeding facilities and its construction partners include a consortium of Chinese firms (Sinohydro Corporation Limited and China National Electric Engineering Company).
The Federal Government is to launch three new national identity cards in May this year and has a target of providing them for about 104 million citizens across the country. The three new national identity cards planned by the National Identity Management Commission include a bank-enabled National ID card, a social intervention card, and an optional ECOWAS National Biometric Identity Card. The Technical Adviser, Media, and Communications to the Director-General of NIMC, Ayodele Babalola, says Nigerians would start getting the three national ID cards within one or two months of the launch. He added that Digital/virtual versions of all cards will be available for individuals who prefer digital formats, albeit with limited functionalities. Additionally, ECOWAS cards will be issued on an as-needed basis in collaboration with the Nigerian Immigration Service.
The Federal Government is to launch three new national identity cards in May this year and has a target of providing them for about 104 million citizens across the country. The three new national identity cards planned by the National Identity Management Commission include a bank-enabled National ID card, a social intervention card, and an optional ECOWAS National Biometric Identity Card. The Technical Adviser, Media, and Communications to the Director-General of NIMC, Ayodele Babalola, says Nigerians would start getting the three national ID cards within one or two months of the launch. He added that Digital/virtual versions of all cards will be available for individuals who prefer digital formats, albeit with limited functionalities. Additionally, ECOWAS cards will be issued on an as-needed basis in collaboration with the Nigerian Immigration Service.
The Federal Government is to launch three new national identity cards in May this year and has a target of providing them for about 104 million citizens across the country. The three new national identity cards planned by the National Identity Management Commission include a bank-enabled National ID card, a social intervention card, and an optional ECOWAS National Biometric Identity Card. The Technical Adviser, Media, and Communications to the Director-General of NIMC, Ayodele Babalola, says Nigerians would start getting the three national ID cards within one or two months of the launch. He added that Digital/virtual versions of all cards will be available for individuals who prefer digital formats, albeit with limited functionalities. Additionally, ECOWAS cards will be issued on an as-needed basis in collaboration with the Nigerian Immigration Service.
The Federal Government is to launch three new national identity cards in May this year and has a target of providing them for about 104 million citizens across the country. The three new national identity cards planned by the National Identity Management Commission include a bank-enabled National ID card, a social intervention card, and an optional ECOWAS National Biometric Identity Card. The Technical Adviser, Media, and Communications to the Director-General of NIMC, Ayodele Babalola, says Nigerians would start getting the three national ID cards within one or two months of the launch. He added that Digital/virtual versions of all cards will be available for individuals who prefer digital formats, albeit with limited functionalities. Additionally, ECOWAS cards will be issued on an as-needed basis in collaboration with the Nigerian Immigration Service.
The Nigerian Customs Service announced a 90-day window for regularising import duties on specific categories of vehicles.
The Public Relations Officer, Abdullahi Maiwada, says Customs noted the initiative applies solely to vehicles imported into Nigeria where the requisite customs duty has not been fulfilled or vehicles detained due to undervaluation.
The NCS stated that all vehicle owners, Importers/Agents seeking to regularize import duties on their vehicles are required to apply to the Zonal Coordinators and CAC FCT Command.
They must submit the necessary available documents and process Vreg in line with the Federal Ministry of Finance directives for the registration of imported motor vehicles.
The Nigerian Customs Service announced a 90-day window for regularising import duties on specific categories of vehicles.
The Public Relations Officer, Abdullahi Maiwada, says Customs noted the initiative applies solely to vehicles imported into Nigeria where the requisite customs duty has not been fulfilled or vehicles detained due to undervaluation.
The NCS stated that all vehicle owners, Importers/Agents seeking to regularize import duties on their vehicles are required to apply to the Zonal Coordinators and CAC FCT Command.
They must submit the necessary available documents and process Vreg in line with the Federal Ministry of Finance directives for the registration of imported motor vehicles.
Qatar has announced new plans to expand output from the world’s biggest natural gas field, saying it will boost capacity to 142 million tonnes per annum before 2030. The new North Field expansion, named North Field West, will add a further 16 million tonnes of liquefied natural gas (LNG) per year to existing expansion plans. Qatar’s Energy Minister Saad Sherida al-Kaabi said at a news conference on Sunday. Qatar’s Energy Minister Saad Sherida al-Kaabi says recent studies have shown that the North Field contains huge additional gas quantities estimated at 240 trillion cubic feet, which raises the state of Qatar’s gas reserves from 1,760 [trillion cubic feet] to more than 2,000 trillion cubic feet. He says these results will enable them to begin developing a new LNG project from the North Field’s western sector with a production capacity of about 16 million tonnes per annum. The QatarEnergy chief says the firm will immediately commence with engineering works to ensure the expansion is completed on time.
Qatar has announced new plans to expand output from the world’s biggest natural gas field, saying it will boost capacity to 142 million tonnes per annum before 2030. The new North Field expansion, named North Field West, will add a further 16 million tonnes of liquefied natural gas (LNG) per year to existing expansion plans. Qatar’s Energy Minister Saad Sherida al-Kaabi said at a news conference on Sunday. Qatar’s Energy Minister Saad Sherida al-Kaabi says recent studies have shown that the North Field contains huge additional gas quantities estimated at 240 trillion cubic feet, which raises the state of Qatar’s gas reserves from 1,760 [trillion cubic feet] to more than 2,000 trillion cubic feet. He says these results will enable them to begin developing a new LNG project from the North Field’s western sector with a production capacity of about 16 million tonnes per annum. The QatarEnergy chief says the firm will immediately commence with engineering works to ensure the expansion is completed on time.
Qatar has announced new plans to expand output from the world’s biggest natural gas field, saying it will boost capacity to 142 million tonnes per annum before 2030. The new North Field expansion, named North Field West, will add a further 16 million tonnes of liquefied natural gas (LNG) per year to existing expansion plans. Qatar’s Energy Minister Saad Sherida al-Kaabi said at a news conference on Sunday. Qatar’s Energy Minister Saad Sherida al-Kaabi says recent studies have shown that the North Field contains huge additional gas quantities estimated at 240 trillion cubic feet, which raises the state of Qatar’s gas reserves from 1,760 [trillion cubic feet] to more than 2,000 trillion cubic feet. He says these results will enable them to begin developing a new LNG project from the North Field’s western sector with a production capacity of about 16 million tonnes per annum. The QatarEnergy chief says the firm will immediately commence with engineering works to ensure the expansion is completed on time.
Qatar has announced new plans to expand output from the world’s biggest natural gas field, saying it will boost capacity to 142 million tonnes per annum before 2030. The new North Field expansion, named North Field West, will add a further 16 million tonnes of liquefied natural gas (LNG) per year to existing expansion plans. Qatar’s Energy Minister Saad Sherida al-Kaabi said at a news conference on Sunday. Qatar’s Energy Minister Saad Sherida al-Kaabi says recent studies have shown that the North Field contains huge additional gas quantities estimated at 240 trillion cubic feet, which raises the state of Qatar’s gas reserves from 1,760 [trillion cubic feet] to more than 2,000 trillion cubic feet. He says these results will enable them to begin developing a new LNG project from the North Field’s western sector with a production capacity of about 16 million tonnes per annum. The QatarEnergy chief says the firm will immediately commence with engineering works to ensure the expansion is completed on time.
Kenya has exempted passport holders from South Africa and six other countries from paying an unpopular entry fee introduced last month. A memorandum from Kenya's interior ministry and immigration department says the exempted countries had entered visa abolition agreements or signed bilateral visa waiver agreements with the East African state. Only travellers from the East African Community regional bloc were exempt from paying the money. In addition to South Africa, the exemption has been extended to passport holders from five other African states - Ethiopia, Eritrea, Congo-Brazzaville, Comoros and Mozambique. San Marino, Europe's third-smallest nation, is the only other country on the exemption list.
Kenya has exempted passport holders from South Africa and six other countries from paying an unpopular entry fee introduced last month. A memorandum from Kenya's interior ministry and immigration department says the exempted countries had entered visa abolition agreements or signed bilateral visa waiver agreements with the East African state. Only travellers from the East African Community regional bloc were exempt from paying the money. In addition to South Africa, the exemption has been extended to passport holders from five other African states - Ethiopia, Eritrea, Congo-Brazzaville, Comoros and Mozambique. San Marino, Europe's third-smallest nation, is the only other country on the exemption list.
Kenya has exempted passport holders from South Africa and six other countries from paying an unpopular entry fee introduced last month. A memorandum from Kenya's interior ministry and immigration department says the exempted countries had entered visa abolition agreements or signed bilateral visa waiver agreements with the East African state. Only travellers from the East African Community regional bloc were exempt from paying the money. In addition to South Africa, the exemption has been extended to passport holders from five other African states - Ethiopia, Eritrea, Congo-Brazzaville, Comoros and Mozambique. San Marino, Europe's third-smallest nation, is the only other country on the exemption list.
Kenya has exempted passport holders from South Africa and six other countries from paying an unpopular entry fee introduced last month. A memorandum from Kenya's interior ministry and immigration department says the exempted countries had entered visa abolition agreements or signed bilateral visa waiver agreements with the East African state. Only travellers from the East African Community regional bloc were exempt from paying the money. In addition to South Africa, the exemption has been extended to passport holders from five other African states - Ethiopia, Eritrea, Congo-Brazzaville, Comoros and Mozambique. San Marino, Europe's third-smallest nation, is the only other country on the exemption list.
Algeria's President Abdelmadjid Tebboune officially opened The Great Mosque of Algiers, the largest mosque in Africa. It is also the third-largest in the world, after the mosques in Saudi Arabia's Islamic holy cities of Mecca and Medina. The mosque was constructed over seven years, costing more than $800m. It is expected to host prayers during the Islamic holy month of Ramadan, which begins in two weeks.
Algeria's President Abdelmadjid Tebboune officially opened The Great Mosque of Algiers, the largest mosque in Africa. It is also the third-largest in the world, after the mosques in Saudi Arabia's Islamic holy cities of Mecca and Medina. The mosque was constructed over seven years, costing more than $800m. It is expected to host prayers during the Islamic holy month of Ramadan, which begins in two weeks.
Algeria's President Abdelmadjid Tebboune officially opened The Great Mosque of Algiers, the largest mosque in Africa. It is also the third-largest in the world, after the mosques in Saudi Arabia's Islamic holy cities of Mecca and Medina. The mosque was constructed over seven years, costing more than $800m. It is expected to host prayers during the Islamic holy month of Ramadan, which begins in two weeks.
Algeria's President Abdelmadjid Tebboune officially opened The Great Mosque of Algiers, the largest mosque in Africa. It is also the third-largest in the world, after the mosques in Saudi Arabia's Islamic holy cities of Mecca and Medina. The mosque was constructed over seven years, costing more than $800m. It is expected to host prayers during the Islamic holy month of Ramadan, which begins in two weeks.
The Central Bank of Nigeria has pegged the duty rates to be paid by importers to the Nigerian Customs Services during goods clearance. The bank instructed the Customs to utilise the FX closing rate on the date of the ‘Form M’ submission by importers for the clearance of goods and import duty assessment. The Director of Trade and Exchange Department, Hassan Mahmud, says this measure aims to tackle the volatility and frequent updates on the customs website concerning the liberalisation of the foreign exchange market.
The Central Bank of Nigeria has pegged the duty rates to be paid by importers to the Nigerian Customs Services during goods clearance. The bank instructed the Customs to utilise the FX closing rate on the date of the ‘Form M’ submission by importers for the clearance of goods and import duty assessment. The Director of Trade and Exchange Department, Hassan Mahmud, says this measure aims to tackle the volatility and frequent updates on the customs website concerning the liberalisation of the foreign exchange market.
The Central Bank of Nigeria has pegged the duty rates to be paid by importers to the Nigerian Customs Services during goods clearance. The bank instructed the Customs to utilise the FX closing rate on the date of the ‘Form M’ submission by importers for the clearance of goods and import duty assessment. The Director of Trade and Exchange Department, Hassan Mahmud, says this measure aims to tackle the volatility and frequent updates on the customs website concerning the liberalisation of the foreign exchange market.
The Central Bank of Nigeria has pegged the duty rates to be paid by importers to the Nigerian Customs Services during goods clearance. The bank instructed the Customs to utilise the FX closing rate on the date of the ‘Form M’ submission by importers for the clearance of goods and import duty assessment. The Director of Trade and Exchange Department, Hassan Mahmud, says this measure aims to tackle the volatility and frequent updates on the customs website concerning the liberalisation of the foreign exchange market.
The West African regional bloc, ECOWAS says the exit of Niger, Mali and Burkina Faso would be detrimental to the region’s economy including stalling projects worth over $500 million. It also stated that the authority recognises that the withdrawal will automatically affect the immigration status of the citizens, as they may be required to obtain visas to travel around the region. The Chairman of the Authority, Bola Tinubu, says the issues though daunting, present an opportunity for ECOWAS to reaffirm its commitment to the vision of our founding fathers and the principles underpinning our commitment to peace, security, and regional integration.
The West African regional bloc, ECOWAS says the exit of Niger, Mali and Burkina Faso would be detrimental to the region’s economy including stalling projects worth over $500 million. It also stated that the authority recognises that the withdrawal will automatically affect the immigration status of the citizens, as they may be required to obtain visas to travel around the region. The Chairman of the Authority, Bola Tinubu, says the issues though daunting, present an opportunity for ECOWAS to reaffirm its commitment to the vision of our founding fathers and the principles underpinning our commitment to peace, security, and regional integration.
The West African regional bloc, ECOWAS says the exit of Niger, Mali and Burkina Faso would be detrimental to the region’s economy including stalling projects worth over $500 million. It also stated that the authority recognises that the withdrawal will automatically affect the immigration status of the citizens, as they may be required to obtain visas to travel around the region. The Chairman of the Authority, Bola Tinubu, says the issues though daunting, present an opportunity for ECOWAS to reaffirm its commitment to the vision of our founding fathers and the principles underpinning our commitment to peace, security, and regional integration.
The West African regional bloc, ECOWAS says the exit of Niger, Mali and Burkina Faso would be detrimental to the region’s economy including stalling projects worth over $500 million. It also stated that the authority recognises that the withdrawal will automatically affect the immigration status of the citizens, as they may be required to obtain visas to travel around the region. The Chairman of the Authority, Bola Tinubu, says the issues though daunting, present an opportunity for ECOWAS to reaffirm its commitment to the vision of our founding fathers and the principles underpinning our commitment to peace, security, and regional integration.
The Nigeria Labour Congress has threatened to shut down its services all over the country if labour members are attacked during its planned two-day protest beginning February 27, 2024. The Labour, in a statement on Sunday, signed by its President, Joe Ajaero, says there is no going back on the planned industrial action. The NLC says the Federal Government must put on its thinking cap and implement its agreement with the Organised Labour as well as address the mounting economic crisis of survival in Nigeria. The NLC says its member won’t be cowed to shelve their proposed nationwide protest.
The Nigeria Labour Congress has threatened to shut down its services all over the country if labour members are attacked during its planned two-day protest beginning February 27, 2024. The Labour, in a statement on Sunday, signed by its President, Joe Ajaero, says there is no going back on the planned industrial action. The NLC says the Federal Government must put on its thinking cap and implement its agreement with the Organised Labour as well as address the mounting economic crisis of survival in Nigeria. The NLC says its member won’t be cowed to shelve their proposed nationwide protest.
The Nigeria Labour Congress has threatened to shut down its services all over the country if labour members are attacked during its planned two-day protest beginning February 27, 2024. The Labour, in a statement on Sunday, signed by its President, Joe Ajaero, says there is no going back on the planned industrial action. The NLC says the Federal Government must put on its thinking cap and implement its agreement with the Organised Labour as well as address the mounting economic crisis of survival in Nigeria. The NLC says its member won’t be cowed to shelve their proposed nationwide protest.
The Nigeria Labour Congress has threatened to shut down its services all over the country if labour members are attacked during its planned two-day protest beginning February 27, 2024. The Labour, in a statement on Sunday, signed by its President, Joe Ajaero, says there is no going back on the planned industrial action. The NLC says the Federal Government must put on its thinking cap and implement its agreement with the Organised Labour as well as address the mounting economic crisis of survival in Nigeria. The NLC says its member won’t be cowed to shelve their proposed nationwide protest.
Parliament in Somalia has approved a major defence agreement with Turkey. Under the ten-year deal, Turkey will arm and train Somali navy forces and deploy its ships in Somali waters. Analysts say it's a major step in enhancing Somalia’s maritime security. Prime Minister Hamza Abdi says the deal eliminates - in his words - fears of terrorism, piracy, illegal fishing and the dumping of toxic waste. It comes as Ethiopia signed a controversial agreement with the self-declared republic of Somaliland, which has increased tensions between Mogadishu and Addis Ababa.
Parliament in Somalia has approved a major defence agreement with Turkey. Under the ten-year deal, Turkey will arm and train Somali navy forces and deploy its ships in Somali waters. Analysts say it's a major step in enhancing Somalia’s maritime security. Prime Minister Hamza Abdi says the deal eliminates - in his words - fears of terrorism, piracy, illegal fishing and the dumping of toxic waste. It comes as Ethiopia signed a controversial agreement with the self-declared republic of Somaliland, which has increased tensions between Mogadishu and Addis Ababa.
Parliament in Somalia has approved a major defence agreement with Turkey. Under the ten-year deal, Turkey will arm and train Somali navy forces and deploy its ships in Somali waters. Analysts say it's a major step in enhancing Somalia’s maritime security. Prime Minister Hamza Abdi says the deal eliminates - in his words - fears of terrorism, piracy, illegal fishing and the dumping of toxic waste. It comes as Ethiopia signed a controversial agreement with the self-declared republic of Somaliland, which has increased tensions between Mogadishu and Addis Ababa.
Parliament in Somalia has approved a major defence agreement with Turkey. Under the ten-year deal, Turkey will arm and train Somali navy forces and deploy its ships in Somali waters. Analysts say it's a major step in enhancing Somalia’s maritime security. Prime Minister Hamza Abdi says the deal eliminates - in his words - fears of terrorism, piracy, illegal fishing and the dumping of toxic waste. It comes as Ethiopia signed a controversial agreement with the self-declared republic of Somaliland, which has increased tensions between Mogadishu and Addis Ababa.
The Biden administration has announced it is cancelling $1.2bn of student debt for 153,000 American borrowers. The Supreme Court had previously blocked President Joe Biden's plan to cancel student debt for over 40 million Americans. This announcement only applies to those enrolled in a specific repayment plan who meet certain requirements. Those affected will be notified and it will be applied automatically. The announcement from the White House only applies to those enrolled in the voluntary Saving on a Valuable Education repayment plan who have been making payments for at least 10 years and who originally borrowed $12,000 or less for school.
The Biden administration has announced it is cancelling $1.2bn of student debt for 153,000 American borrowers. The Supreme Court had previously blocked President Joe Biden's plan to cancel student debt for over 40 million Americans. This announcement only applies to those enrolled in a specific repayment plan who meet certain requirements. Those affected will be notified and it will be applied automatically. The announcement from the White House only applies to those enrolled in the voluntary Saving on a Valuable Education repayment plan who have been making payments for at least 10 years and who originally borrowed $12,000 or less for school.
The Biden administration has announced it is cancelling $1.2bn of student debt for 153,000 American borrowers. The Supreme Court had previously blocked President Joe Biden's plan to cancel student debt for over 40 million Americans. This announcement only applies to those enrolled in a specific repayment plan who meet certain requirements. Those affected will be notified and it will be applied automatically. The announcement from the White House only applies to those enrolled in the voluntary Saving on a Valuable Education repayment plan who have been making payments for at least 10 years and who originally borrowed $12,000 or less for school.
The Biden administration has announced it is cancelling $1.2bn of student debt for 153,000 American borrowers. The Supreme Court had previously blocked President Joe Biden's plan to cancel student debt for over 40 million Americans. This announcement only applies to those enrolled in a specific repayment plan who meet certain requirements. Those affected will be notified and it will be applied automatically. The announcement from the White House only applies to those enrolled in the voluntary Saving on a Valuable Education repayment plan who have been making payments for at least 10 years and who originally borrowed $12,000 or less for school.
The South African government has announced that it's tapping into its foreign reserves to try to reduce its enormous debts. The unusual move was announced by the finance minister, Enoch Godongwana, as he gave his budget speech in Cape Town. South Africa's current borrowings are the highest since 1947 and more money is spent servicing the debts than on education and health. The opposition has accused the governing ANC party of trying to sway voters ahead of the general election in May, which could see the party lose its majority for the first time since the end of apartheid 30 years ago.
The South African government has announced that it's tapping into its foreign reserves to try to reduce its enormous debts. The unusual move was announced by the finance minister, Enoch Godongwana, as he gave his budget speech in Cape Town. South Africa's current borrowings are the highest since 1947 and more money is spent servicing the debts than on education and health. The opposition has accused the governing ANC party of trying to sway voters ahead of the general election in May, which could see the party lose its majority for the first time since the end of apartheid 30 years ago.
The South African government has announced that it's tapping into its foreign reserves to try to reduce its enormous debts. The unusual move was announced by the finance minister, Enoch Godongwana, as he gave his budget speech in Cape Town. South Africa's current borrowings are the highest since 1947 and more money is spent servicing the debts than on education and health. The opposition has accused the governing ANC party of trying to sway voters ahead of the general election in May, which could see the party lose its majority for the first time since the end of apartheid 30 years ago.
The South African government has announced that it's tapping into its foreign reserves to try to reduce its enormous debts. The unusual move was announced by the finance minister, Enoch Godongwana, as he gave his budget speech in Cape Town. South Africa's current borrowings are the highest since 1947 and more money is spent servicing the debts than on education and health. The opposition has accused the governing ANC party of trying to sway voters ahead of the general election in May, which could see the party lose its majority for the first time since the end of apartheid 30 years ago.
The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, says that the country’s oil rigs have increased to 30 from 11 in 2011. He linked the increase to NUPRC and other government stakeholders’ efforts to attract confidence and certainty into the oil and gas industry. Komolafe says Nigeria recorded capital expenditure worth billions of dollars within the last two and a half years due to the implementation of the Petroleum Industry Act. He says that rig count is a measure of vibrant activities in the oil industry.
The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, says that the country’s oil rigs have increased to 30 from 11 in 2011. He linked the increase to NUPRC and other government stakeholders’ efforts to attract confidence and certainty into the oil and gas industry. Komolafe says Nigeria recorded capital expenditure worth billions of dollars within the last two and a half years due to the implementation of the Petroleum Industry Act. He says that rig count is a measure of vibrant activities in the oil industry.
The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, says that the country’s oil rigs have increased to 30 from 11 in 2011. He linked the increase to NUPRC and other government stakeholders’ efforts to attract confidence and certainty into the oil and gas industry. Komolafe says Nigeria recorded capital expenditure worth billions of dollars within the last two and a half years due to the implementation of the Petroleum Industry Act. He says that rig count is a measure of vibrant activities in the oil industry.
The Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, says that the country’s oil rigs have increased to 30 from 11 in 2011. He linked the increase to NUPRC and other government stakeholders’ efforts to attract confidence and certainty into the oil and gas industry. Komolafe says Nigeria recorded capital expenditure worth billions of dollars within the last two and a half years due to the implementation of the Petroleum Industry Act. He says that rig count is a measure of vibrant activities in the oil industry.
Nigerian Government says cement manufacturers are not doing enough to stem the rising cost of cement in the country, stating that it will not accept a situation where the price of essential building materials like cement continues to rise uncontrollably. The Minister of Housing and Urban Development, Arc. Ahmed Dangiwa expressed displeasure over the steady, recurring, and alarming increase in the prices of cement and other building materials and accused the manufacturers of hiding behind unstable FOREX to inflict hardship on Nigerians. He described the situation as unacceptable and inimical to the country’s growth, saying that the government cannot accept such illicit price hikes. Dangiwa noted that the incessant hike had overtaken the country in the past few months, causing a 100 per cent rise in price from N5,500 to N10,000.
Nigerian Government says cement manufacturers are not doing enough to stem the rising cost of cement in the country, stating that it will not accept a situation where the price of essential building materials like cement continues to rise uncontrollably. The Minister of Housing and Urban Development, Arc. Ahmed Dangiwa expressed displeasure over the steady, recurring, and alarming increase in the prices of cement and other building materials and accused the manufacturers of hiding behind unstable FOREX to inflict hardship on Nigerians. He described the situation as unacceptable and inimical to the country’s growth, saying that the government cannot accept such illicit price hikes. Dangiwa noted that the incessant hike had overtaken the country in the past few months, causing a 100 per cent rise in price from N5,500 to N10,000.
Nigerian Government says cement manufacturers are not doing enough to stem the rising cost of cement in the country, stating that it will not accept a situation where the price of essential building materials like cement continues to rise uncontrollably. The Minister of Housing and Urban Development, Arc. Ahmed Dangiwa expressed displeasure over the steady, recurring, and alarming increase in the prices of cement and other building materials and accused the manufacturers of hiding behind unstable FOREX to inflict hardship on Nigerians. He described the situation as unacceptable and inimical to the country’s growth, saying that the government cannot accept such illicit price hikes. Dangiwa noted that the incessant hike had overtaken the country in the past few months, causing a 100 per cent rise in price from N5,500 to N10,000.
Nigerian Government says cement manufacturers are not doing enough to stem the rising cost of cement in the country, stating that it will not accept a situation where the price of essential building materials like cement continues to rise uncontrollably. The Minister of Housing and Urban Development, Arc. Ahmed Dangiwa expressed displeasure over the steady, recurring, and alarming increase in the prices of cement and other building materials and accused the manufacturers of hiding behind unstable FOREX to inflict hardship on Nigerians. He described the situation as unacceptable and inimical to the country’s growth, saying that the government cannot accept such illicit price hikes. Dangiwa noted that the incessant hike had overtaken the country in the past few months, causing a 100 per cent rise in price from N5,500 to N10,000.
Nigerian Lawmakers made a resounding plea to the Federal Government, urging it to refrain from eliminating the electricity subsidy, particularly in light of the prevailing hardships experienced across the country. The Senate’s stance emerged following a thorough deliberation, and subsequent endorsement of a motion during its plenary session emphasising the imperativeness of maintaining the electricity subsidy in Nigeria for the foreseeable future. The Senate resolved to call for prudence and caution, urging careful consideration of the socioeconomic ramifications before any decision regarding the removal of the electricity subsidy is made.
Nigerian Lawmakers made a resounding plea to the Federal Government, urging it to refrain from eliminating the electricity subsidy, particularly in light of the prevailing hardships experienced across the country. The Senate’s stance emerged following a thorough deliberation, and subsequent endorsement of a motion during its plenary session emphasising the imperativeness of maintaining the electricity subsidy in Nigeria for the foreseeable future. The Senate resolved to call for prudence and caution, urging careful consideration of the socioeconomic ramifications before any decision regarding the removal of the electricity subsidy is made.
Nigerian Lawmakers made a resounding plea to the Federal Government, urging it to refrain from eliminating the electricity subsidy, particularly in light of the prevailing hardships experienced across the country. The Senate’s stance emerged following a thorough deliberation, and subsequent endorsement of a motion during its plenary session emphasising the imperativeness of maintaining the electricity subsidy in Nigeria for the foreseeable future. The Senate resolved to call for prudence and caution, urging careful consideration of the socioeconomic ramifications before any decision regarding the removal of the electricity subsidy is made.
Nigerian Lawmakers made a resounding plea to the Federal Government, urging it to refrain from eliminating the electricity subsidy, particularly in light of the prevailing hardships experienced across the country. The Senate’s stance emerged following a thorough deliberation, and subsequent endorsement of a motion during its plenary session emphasising the imperativeness of maintaining the electricity subsidy in Nigeria for the foreseeable future. The Senate resolved to call for prudence and caution, urging careful consideration of the socioeconomic ramifications before any decision regarding the removal of the electricity subsidy is made.
Ukrainians who came to the UK following the Russian invasion will be able to apply for 18-month extensions to their visas. New arrivals were granted three years to remain, meaning the first visas were due to expire in March 2025. It means those on the earliest visas can stay until at least September 2026. The government says it would provide people with certainty and stability. The extension will apply to all three visa schemes set up following the invasion: the Homes for Ukraine scheme, the Ukraine Family Scheme, and the Ukraine Extension Scheme. Those on the schemes will continue to have the same rights to access work, benefits, healthcare, and education.
Ukrainians who came to the UK following the Russian invasion will be able to apply for 18-month extensions to their visas. New arrivals were granted three years to remain, meaning the first visas were due to expire in March 2025. It means those on the earliest visas can stay until at least September 2026. The government says it would provide people with certainty and stability. The extension will apply to all three visa schemes set up following the invasion: the Homes for Ukraine scheme, the Ukraine Family Scheme, and the Ukraine Extension Scheme. Those on the schemes will continue to have the same rights to access work, benefits, healthcare, and education.
Israeli war cabinet member Benny Gantz has warned that unless Hamas frees all hostages held in Gaza by 10 March an offensive will be launched in Rafah. It is the first time Israel has said when its troops might enter Gaza's overcrowded southern city. Global opposition is growing to such an attack in Rafah, where some 1.5 million Palestinians are sheltering. The UN public health agency says a key Gaza hospital had ceased to function following an Israeli raid. The World Health Organization says it had not been allowed to enter Nasser Hospital in Khan Yunis, north of Rafah, to assess the situation.
Israeli war cabinet member Benny Gantz has warned that unless Hamas frees all hostages held in Gaza by 10 March an offensive will be launched in Rafah. It is the first time Israel has said when its troops might enter Gaza's overcrowded southern city. Global opposition is growing to such an attack in Rafah, where some 1.5 million Palestinians are sheltering. The UN public health agency says a key Gaza hospital had ceased to function following an Israeli raid. The World Health Organization says it had not been allowed to enter Nasser Hospital in Khan Yunis, north of Rafah, to assess the situation.
Israeli war cabinet member Benny Gantz has warned that unless Hamas frees all hostages held in Gaza by 10 March an offensive will be launched in Rafah. It is the first time Israel has said when its troops might enter Gaza's overcrowded southern city. Global opposition is growing to such an attack in Rafah, where some 1.5 million Palestinians are sheltering. The UN public health agency says a key Gaza hospital had ceased to function following an Israeli raid. The World Health Organization says it had not been allowed to enter Nasser Hospital in Khan Yunis, north of Rafah, to assess the situation.
Israeli war cabinet member Benny Gantz has warned that unless Hamas frees all hostages held in Gaza by 10 March an offensive will be launched in Rafah. It is the first time Israel has said when its troops might enter Gaza's overcrowded southern city. Global opposition is growing to such an attack in Rafah, where some 1.5 million Palestinians are sheltering. The UN public health agency says a key Gaza hospital had ceased to function following an Israeli raid. The World Health Organization says it had not been allowed to enter Nasser Hospital in Khan Yunis, north of Rafah, to assess the situation.
The chair of the African Union Commission has called on leaders to tackle conflicts in the continent and condemned a series of coups in some African countries. Moussa Faki Mahamat made the call on the first day of the two-day AU summit. Wars in Sudan and the Democratic Republic of Congo are at the top of the African bloc's agenda. Mr Faki says he was extremely worried about a litany of difficulties facing the region. He expressed concern over the fighting in the Democratic Republic of Congo, saying the conflict in the east of the country was leading to a worsening of its eternal crises. He says the rise in jihadist insurgencies was resulting in exorbitant military spending, at the expense of vital social sectors, while opening the way to misleading populist speeches.
The chair of the African Union Commission has called on leaders to tackle conflicts in the continent and condemned a series of coups in some African countries. Moussa Faki Mahamat made the call on the first day of the two-day AU summit. Wars in Sudan and the Democratic Republic of Congo are at the top of the African bloc's agenda. Mr Faki says he was extremely worried about a litany of difficulties facing the region. He expressed concern over the fighting in the Democratic Republic of Congo, saying the conflict in the east of the country was leading to a worsening of its eternal crises. He says the rise in jihadist insurgencies was resulting in exorbitant military spending, at the expense of vital social sectors, while opening the way to misleading populist speeches.
The chair of the African Union Commission has called on leaders to tackle conflicts in the continent and condemned a series of coups in some African countries. Moussa Faki Mahamat made the call on the first day of the two-day AU summit. Wars in Sudan and the Democratic Republic of Congo are at the top of the African bloc's agenda. Mr Faki says he was extremely worried about a litany of difficulties facing the region. He expressed concern over the fighting in the Democratic Republic of Congo, saying the conflict in the east of the country was leading to a worsening of its eternal crises. He says the rise in jihadist insurgencies was resulting in exorbitant military spending, at the expense of vital social sectors, while opening the way to misleading populist speeches.
The chair of the African Union Commission has called on leaders to tackle conflicts in the continent and condemned a series of coups in some African countries. Moussa Faki Mahamat made the call on the first day of the two-day AU summit. Wars in Sudan and the Democratic Republic of Congo are at the top of the African bloc's agenda. Mr Faki says he was extremely worried about a litany of difficulties facing the region. He expressed concern over the fighting in the Democratic Republic of Congo, saying the conflict in the east of the country was leading to a worsening of its eternal crises. He says the rise in jihadist insurgencies was resulting in exorbitant military spending, at the expense of vital social sectors, while opening the way to misleading populist speeches.
A key parliamentary committee says the government's plan to send some asylum seekers to Rwanda is fundamentally incompatible with the UK's human rights safeguards. The Joint Committee on Human Rights says the legislation jeopardised the UK's international reputation. The bill will be debated in detail by the House of Lords this week and face substantial opposition. The UK Supreme Court ruled that Rwanda was not a safe country because it could send victims of abuses, including torture, back to countries they have fled from.
A key parliamentary committee says the government's plan to send some asylum seekers to Rwanda is fundamentally incompatible with the UK's human rights safeguards. The Joint Committee on Human Rights says the legislation jeopardised the UK's international reputation. The bill will be debated in detail by the House of Lords this week and face substantial opposition. The UK Supreme Court ruled that Rwanda was not a safe country because it could send victims of abuses, including torture, back to countries they have fled from.
A key parliamentary committee says the government's plan to send some asylum seekers to Rwanda is fundamentally incompatible with the UK's human rights safeguards. The Joint Committee on Human Rights says the legislation jeopardised the UK's international reputation. The bill will be debated in detail by the House of Lords this week and face substantial opposition. The UK Supreme Court ruled that Rwanda was not a safe country because it could send victims of abuses, including torture, back to countries they have fled from.
A key parliamentary committee says the government's plan to send some asylum seekers to Rwanda is fundamentally incompatible with the UK's human rights safeguards. The Joint Committee on Human Rights says the legislation jeopardised the UK's international reputation. The bill will be debated in detail by the House of Lords this week and face substantial opposition. The UK Supreme Court ruled that Rwanda was not a safe country because it could send victims of abuses, including torture, back to countries they have fled from.
The Central Bank of Nigeria under the previous administration split the transfer of $134m to the United Kingdom branch of Nigerian bank to avoid violating its guidelines regarding offshore deposit placement. The audit report was published two years later than it was expected by law. CBN under its immediate past Governor, Godwin Emefiele, had been accused of several malpractices. However, Emefiele has since denied many of the allegations. The report partly states that, CBN deposited $134m to First Bank of Nigeria (UK) London (these deposits were split into $59m and $75m) to circumvent the provisions of the CBN guidelines on offshore deposits. The audit report says the apex bank did not provide further information at the time of the audit to enable the auditor to verify the average monthly deposit of FBN UK LTD. London, over one year, to establish if it is qualified for such exposure.
The Central Bank of Nigeria under the previous administration split the transfer of $134m to the United Kingdom branch of Nigerian bank to avoid violating its guidelines regarding offshore deposit placement. The audit report was published two years later than it was expected by law. CBN under its immediate past Governor, Godwin Emefiele, had been accused of several malpractices. However, Emefiele has since denied many of the allegations. The report partly states that, CBN deposited $134m to First Bank of Nigeria (UK) London (these deposits were split into $59m and $75m) to circumvent the provisions of the CBN guidelines on offshore deposits. The audit report says the apex bank did not provide further information at the time of the audit to enable the auditor to verify the average monthly deposit of FBN UK LTD. London, over one year, to establish if it is qualified for such exposure.
The Central Bank of Nigeria under the previous administration split the transfer of $134m to the United Kingdom branch of Nigerian bank to avoid violating its guidelines regarding offshore deposit placement. The audit report was published two years later than it was expected by law. CBN under its immediate past Governor, Godwin Emefiele, had been accused of several malpractices. However, Emefiele has since denied many of the allegations. The report partly states that, CBN deposited $134m to First Bank of Nigeria (UK) London (these deposits were split into $59m and $75m) to circumvent the provisions of the CBN guidelines on offshore deposits. The audit report says the apex bank did not provide further information at the time of the audit to enable the auditor to verify the average monthly deposit of FBN UK LTD. London, over one year, to establish if it is qualified for such exposure.
The Central Bank of Nigeria under the previous administration split the transfer of $134m to the United Kingdom branch of Nigerian bank to avoid violating its guidelines regarding offshore deposit placement. The audit report was published two years later than it was expected by law. CBN under its immediate past Governor, Godwin Emefiele, had been accused of several malpractices. However, Emefiele has since denied many of the allegations. The report partly states that, CBN deposited $134m to First Bank of Nigeria (UK) London (these deposits were split into $59m and $75m) to circumvent the provisions of the CBN guidelines on offshore deposits. The audit report says the apex bank did not provide further information at the time of the audit to enable the auditor to verify the average monthly deposit of FBN UK LTD. London, over one year, to establish if it is qualified for such exposure.
The Federal Airports Authority of Nigeria has reopened the 3.9km Runway 18R/36L of the Murtala Muhammed International Airport, Lagos after almost 11 months of maintenance repairs. During the repair period, both international and local airlines were using runway 18L/36R, a shorter runway that is meant to handle only domestic flights. Kenya Airways has already utilised the reopened runway, receiving a ceremonial welcome, marking the runway’s return to service. The Nigerian Airspace had issued a Notice to Airmen, announcing the opening of the Runway After Midnight Of February 15.
The Federal Airports Authority of Nigeria has reopened the 3.9km Runway 18R/36L of the Murtala Muhammed International Airport, Lagos after almost 11 months of maintenance repairs. During the repair period, both international and local airlines were using runway 18L/36R, a shorter runway that is meant to handle only domestic flights. Kenya Airways has already utilised the reopened runway, receiving a ceremonial welcome, marking the runway’s return to service. The Nigerian Airspace had issued a Notice to Airmen, announcing the opening of the Runway After Midnight Of February 15.
The Federal Airports Authority of Nigeria has reopened the 3.9km Runway 18R/36L of the Murtala Muhammed International Airport, Lagos after almost 11 months of maintenance repairs. During the repair period, both international and local airlines were using runway 18L/36R, a shorter runway that is meant to handle only domestic flights. Kenya Airways has already utilised the reopened runway, receiving a ceremonial welcome, marking the runway’s return to service. The Nigerian Airspace had issued a Notice to Airmen, announcing the opening of the Runway After Midnight Of February 15.
The Federal Airports Authority of Nigeria has reopened the 3.9km Runway 18R/36L of the Murtala Muhammed International Airport, Lagos after almost 11 months of maintenance repairs. During the repair period, both international and local airlines were using runway 18L/36R, a shorter runway that is meant to handle only domestic flights. Kenya Airways has already utilised the reopened runway, receiving a ceremonial welcome, marking the runway’s return to service. The Nigerian Airspace had issued a Notice to Airmen, announcing the opening of the Runway After Midnight Of February 15.
President Bola Tinubu met with his Brazilian counterpart, President Luiz Inácio Lula da Silva, in Addis Ababa, Ethiopia, and had fruitful discussions on the comprehensive strengthening of bilateral ties in all fields. Tinubu’s media aide, Ajuri Ngelale, noted that the Nigerian leader, at the meeting, emphasized the strength of Nigeria’s economic potential and influence, saying the country is witnessing a leap forward, despite some short-term reform pains, as his administration is removing all encumbrances to business. The President further explained that his administration is investing in critical sectors of the economy like healthcare, education, and agriculture to ensure the welfare of all Nigerian citizens and to create sustainable economic prosperity for future generations.
President Bola Tinubu met with his Brazilian counterpart, President Luiz Inácio Lula da Silva, in Addis Ababa, Ethiopia, and had fruitful discussions on the comprehensive strengthening of bilateral ties in all fields. Tinubu’s media aide, Ajuri Ngelale, noted that the Nigerian leader, at the meeting, emphasized the strength of Nigeria’s economic potential and influence, saying the country is witnessing a leap forward, despite some short-term reform pains, as his administration is removing all encumbrances to business. The President further explained that his administration is investing in critical sectors of the economy like healthcare, education, and agriculture to ensure the welfare of all Nigerian citizens and to create sustainable economic prosperity for future generations.
President Bola Tinubu met with his Brazilian counterpart, President Luiz Inácio Lula da Silva, in Addis Ababa, Ethiopia, and had fruitful discussions on the comprehensive strengthening of bilateral ties in all fields. Tinubu’s media aide, Ajuri Ngelale, noted that the Nigerian leader, at the meeting, emphasized the strength of Nigeria’s economic potential and influence, saying the country is witnessing a leap forward, despite some short-term reform pains, as his administration is removing all encumbrances to business. The President further explained that his administration is investing in critical sectors of the economy like healthcare, education, and agriculture to ensure the welfare of all Nigerian citizens and to create sustainable economic prosperity for future generations.
President Bola Tinubu met with his Brazilian counterpart, President Luiz Inácio Lula da Silva, in Addis Ababa, Ethiopia, and had fruitful discussions on the comprehensive strengthening of bilateral ties in all fields. Tinubu’s media aide, Ajuri Ngelale, noted that the Nigerian leader, at the meeting, emphasized the strength of Nigeria’s economic potential and influence, saying the country is witnessing a leap forward, despite some short-term reform pains, as his administration is removing all encumbrances to business. The President further explained that his administration is investing in critical sectors of the economy like healthcare, education, and agriculture to ensure the welfare of all Nigerian citizens and to create sustainable economic prosperity for future generations.
A key parliamentary committee says the government's plan to send some asylum seekers to Rwanda is fundamentally incompatible with the UK's human rights safeguards.
The Joint Committee on Human Rights says the legislation jeopardised the UK's international reputation.
The bill will be debated in detail by the House of Lords this week and face substantial opposition.
The UK Supreme Court ruled that Rwanda was not a safe country because it could send victims of abuses, including torture, back to countries they have fled from.
A key parliamentary committee says the government's plan to send some asylum seekers to Rwanda is fundamentally incompatible with the UK's human rights safeguards.
The Joint Committee on Human Rights says the legislation jeopardised the UK's international reputation.
The bill will be debated in detail by the House of Lords this week and face substantial opposition.
The UK Supreme Court ruled that Rwanda was not a safe country because it could send victims of abuses, including torture, back to countries they have fled from.
The Central Bank of Nigeria under the previous administration split the transfer of $134m to the United Kingdom branch of Nigerian bank to avoid violating its own guidelines regarding offshore deposit placement.
The audit report was published two years later than it was expected by law.
CBN under its immediate past Governor, Godwin Emefiele, had been accused of several malpractices. However, Emefiele has since denied many of the allegations.
The report partly states that CBN deposited $134m to First Bank of Nigeria (UK) London (these deposits were split into $59m and $75m) to circumvent the provisions of the CBN guidelines on offshore deposits.
The audit report says the apex bank did not provide further information at the time of the audit to enable the auditor to verify the average monthly deposit of FBN UK LTD. London, over one year, to establish if it is qualified for such exposure.
The Central Bank of Nigeria under the previous administration split the transfer of $134m to the United Kingdom branch of Nigerian bank to avoid violating its own guidelines regarding offshore deposit placement.
The audit report was published two years later than it was expected by law.
CBN under its immediate past Governor, Godwin Emefiele, had been accused of several malpractices. However, Emefiele has since denied many of the allegations.
The report partly states that CBN deposited $134m to First Bank of Nigeria (UK) London (these deposits were split into $59m and $75m) to circumvent the provisions of the CBN guidelines on offshore deposits.
The audit report says the apex bank did not provide further information at the time of the audit to enable the auditor to verify the average monthly deposit of FBN UK LTD. London, over one year, to establish if it is qualified for such exposure.
The Federal Airports Authority of Nigeria has reopened the 3.9km Runway 18R/36L of the Murtala Muhammed International Airport, Lagos after almost 11 months of maintenance repairs.
During the repair period, both international and local airlines were using runway 18L/36R, a shorter runway that is meant to handle only domestic flights.
Kenya Airways has already utilised the reopened runway, receiving a ceremonial welcome, marking the runway’s return to service.
The Nigerian Airspace had issued a Notice to Airmen, announcing the opening of the Runway After Midnight Of February 15.
The Federal Airports Authority of Nigeria has reopened the 3.9km Runway 18R/36L of the Murtala Muhammed International Airport, Lagos after almost 11 months of maintenance repairs.
During the repair period, both international and local airlines were using runway 18L/36R, a shorter runway that is meant to handle only domestic flights.
Kenya Airways has already utilised the reopened runway, receiving a ceremonial welcome, marking the runway’s return to service.
The Nigerian Airspace had issued a Notice to Airmen, announcing the opening of the Runway After Midnight Of February 15.
President Bola Tinubu met with his Brazilian counterpart, President Luiz Inácio Lula da Silva, in Addis Ababa, Ethiopia, and had fruitful discussions on the comprehensive strengthening of bilateral ties in all fields.
Tinubu’s media aide, Ajuri Ngelale, noted that the Nigerian leader, at the meeting, emphasized the strength of Nigeria’s economic potential and influence, saying the country is witnessing a leap forward, despite some short-term reform pains, as his administration is removing all encumbrances to business.
The President further explained that his administration is investing in critical sectors of the economy like healthcare, education, and agriculture to ensure the welfare of all Nigerian citizens and to create sustainable economic prosperity for future generations.
President Bola Tinubu met with his Brazilian counterpart, President Luiz Inácio Lula da Silva, in Addis Ababa, Ethiopia, and had fruitful discussions on the comprehensive strengthening of bilateral ties in all fields.
Tinubu’s media aide, Ajuri Ngelale, noted that the Nigerian leader, at the meeting, emphasized the strength of Nigeria’s economic potential and influence, saying the country is witnessing a leap forward, despite some short-term reform pains, as his administration is removing all encumbrances to business.
The President further explained that his administration is investing in critical sectors of the economy like healthcare, education, and agriculture to ensure the welfare of all Nigerian citizens and to create sustainable economic prosperity for future generations.
The United Kingdom slipped into a technical recession in the second half of last year after its economy registered two consecutive quarters of negative economic growth. The Office for National Statistics says that Britain’s gross domestic product shrank by 0.3 per cent in the last three months of 2023, after contracting 0.1 per cent in the third quarter. Sterling weakened moderately against the United States dollar and the euro shortly after the GDP data release. The ONS says the fall in GDP in the fourth quarter of 2023 was the biggest since the first three months of 2021. The ONS says Economic output dropped by 0.1 per cent in monthly terms in December, after 0.2 per cent growth in November.
The United Kingdom slipped into a technical recession in the second half of last year after its economy registered two consecutive quarters of negative economic growth. The Office for National Statistics says that Britain’s gross domestic product shrank by 0.3 per cent in the last three months of 2023, after contracting 0.1 per cent in the third quarter. Sterling weakened moderately against the United States dollar and the euro shortly after the GDP data release. The ONS says the fall in GDP in the fourth quarter of 2023 was the biggest since the first three months of 2021. The ONS says Economic output dropped by 0.1 per cent in monthly terms in December, after 0.2 per cent growth in November.
The United Kingdom slipped into a technical recession in the second half of last year after its economy registered two consecutive quarters of negative economic growth. The Office for National Statistics says that Britain’s gross domestic product shrank by 0.3 per cent in the last three months of 2023, after contracting 0.1 per cent in the third quarter. Sterling weakened moderately against the United States dollar and the euro shortly after the GDP data release. The ONS says the fall in GDP in the fourth quarter of 2023 was the biggest since the first three months of 2021. The ONS says Economic output dropped by 0.1 per cent in monthly terms in December, after 0.2 per cent growth in November.
The United Kingdom slipped into a technical recession in the second half of last year after its economy registered two consecutive quarters of negative economic growth. The Office for National Statistics says that Britain’s gross domestic product shrank by 0.3 per cent in the last three months of 2023, after contracting 0.1 per cent in the third quarter. Sterling weakened moderately against the United States dollar and the euro shortly after the GDP data release. The ONS says the fall in GDP in the fourth quarter of 2023 was the biggest since the first three months of 2021. The ONS says Economic output dropped by 0.1 per cent in monthly terms in December, after 0.2 per cent growth in November.
India's top court has struck down a scheme that allowed people to make anonymous donations to political parties, calling it unconstitutional. A five-judge constitution bench ruled that electoral bonds violate citizens' right to access information held by the government. Chief Justice of India DY Chandrachud says the Right to Information law is not confined to state affairs but also includes information necessary for participatory democracy. The court directed the government-run State Bank of India not to issue any more such bonds, to provide identity details of those who bought them, and to give information about bonds redeemed by each political party to the Election Commission within a week.
India's top court has struck down a scheme that allowed people to make anonymous donations to political parties, calling it unconstitutional. A five-judge constitution bench ruled that electoral bonds violate citizens' right to access information held by the government. Chief Justice of India DY Chandrachud says the Right to Information law is not confined to state affairs but also includes information necessary for participatory democracy. The court directed the government-run State Bank of India not to issue any more such bonds, to provide identity details of those who bought them, and to give information about bonds redeemed by each political party to the Election Commission within a week.
India's top court has struck down a scheme that allowed people to make anonymous donations to political parties, calling it unconstitutional. A five-judge constitution bench ruled that electoral bonds violate citizens' right to access information held by the government. Chief Justice of India DY Chandrachud says the Right to Information law is not confined to state affairs but also includes information necessary for participatory democracy. The court directed the government-run State Bank of India not to issue any more such bonds, to provide identity details of those who bought them, and to give information about bonds redeemed by each political party to the Election Commission within a week.
India's top court has struck down a scheme that allowed people to make anonymous donations to political parties, calling it unconstitutional. A five-judge constitution bench ruled that electoral bonds violate citizens' right to access information held by the government. Chief Justice of India DY Chandrachud says the Right to Information law is not confined to state affairs but also includes information necessary for participatory democracy. The court directed the government-run State Bank of India not to issue any more such bonds, to provide identity details of those who bought them, and to give information about bonds redeemed by each political party to the Election Commission within a week.
The first-ever criminal trial of a former US president is set to start next month, with Donald Trump defending himself against allegations of conducting a hush-money cover-up. He appeared in court in New York seeking to have the trial dismissed or delayed however Judge Juan Merchan was not swayed by arguments that the trial's timetable would hurt his presidential campaign. Mr Trump called the decision to start the trial on 25 March a disgrace but the New York state judge says they were not rooted in law and that he would only delay for legal reasons. Manhattan District Attorney Alvin Bragg has charged the former president with 34 counts of fraud, alleging Mr Trump falsified business records to disguise payments he made to adult film actress Stormy Daniels as legal fees.
The first-ever criminal trial of a former US president is set to start next month, with Donald Trump defending himself against allegations of conducting a hush-money cover-up. He appeared in court in New York seeking to have the trial dismissed or delayed however Judge Juan Merchan was not swayed by arguments that the trial's timetable would hurt his presidential campaign. Mr Trump called the decision to start the trial on 25 March a disgrace but the New York state judge says they were not rooted in law and that he would only delay for legal reasons. Manhattan District Attorney Alvin Bragg has charged the former president with 34 counts of fraud, alleging Mr Trump falsified business records to disguise payments he made to adult film actress Stormy Daniels as legal fees.
The first-ever criminal trial of a former US president is set to start next month, with Donald Trump defending himself against allegations of conducting a hush-money cover-up. He appeared in court in New York seeking to have the trial dismissed or delayed however Judge Juan Merchan was not swayed by arguments that the trial's timetable would hurt his presidential campaign. Mr Trump called the decision to start the trial on 25 March a disgrace but the New York state judge says they were not rooted in law and that he would only delay for legal reasons. Manhattan District Attorney Alvin Bragg has charged the former president with 34 counts of fraud, alleging Mr Trump falsified business records to disguise payments he made to adult film actress Stormy Daniels as legal fees.
The first-ever criminal trial of a former US president is set to start next month, with Donald Trump defending himself against allegations of conducting a hush-money cover-up. He appeared in court in New York seeking to have the trial dismissed or delayed however Judge Juan Merchan was not swayed by arguments that the trial's timetable would hurt his presidential campaign. Mr Trump called the decision to start the trial on 25 March a disgrace but the New York state judge says they were not rooted in law and that he would only delay for legal reasons. Manhattan District Attorney Alvin Bragg has charged the former president with 34 counts of fraud, alleging Mr Trump falsified business records to disguise payments he made to adult film actress Stormy Daniels as legal fees.
Central African Republic President Faustin-Archange Touadera and a delegation from South Africa's ruling ANC party are among those attending a forum in Russia, which aims to create a body that will fight against neo-colonialism and the influence of the West. The two countries are among Russia's closest allies in Africa. South Africa's delegation has been led by ANC Secretary-General Fikile Mbalula. It has been convened by the United Russia party, the country's largest political party, Russian state-owned news agency Sputnik reported. The two-day event will also be attended by a delegation of North Korea's ruling party and other representatives from countries in the Global South that are perceived by Russia as "advocates of the fight against new manifestations of colonialism".
Central African Republic President Faustin-Archange Touadera and a delegation from South Africa's ruling ANC party are among those attending a forum in Russia, which aims to create a body that will fight against neo-colonialism and the influence of the West. The two countries are among Russia's closest allies in Africa. South Africa's delegation has been led by ANC Secretary-General Fikile Mbalula. It has been convened by the United Russia party, the country's largest political party, Russian state-owned news agency Sputnik reported. The two-day event will also be attended by a delegation of North Korea's ruling party and other representatives from countries in the Global South that are perceived by Russia as "advocates of the fight against new manifestations of colonialism".
Central African Republic President Faustin-Archange Touadera and a delegation from South Africa's ruling ANC party are among those attending a forum in Russia, which aims to create a body that will fight against neo-colonialism and the influence of the West. The two countries are among Russia's closest allies in Africa. South Africa's delegation has been led by ANC Secretary-General Fikile Mbalula. It has been convened by the United Russia party, the country's largest political party, Russian state-owned news agency Sputnik reported. The two-day event will also be attended by a delegation of North Korea's ruling party and other representatives from countries in the Global South that are perceived by Russia as "advocates of the fight against new manifestations of colonialism".
Central African Republic President Faustin-Archange Touadera and a delegation from South Africa's ruling ANC party are among those attending a forum in Russia, which aims to create a body that will fight against neo-colonialism and the influence of the West. The two countries are among Russia's closest allies in Africa. South Africa's delegation has been led by ANC Secretary-General Fikile Mbalula. It has been convened by the United Russia party, the country's largest political party, Russian state-owned news agency Sputnik reported. The two-day event will also be attended by a delegation of North Korea's ruling party and other representatives from countries in the Global South that are perceived by Russia as "advocates of the fight against new manifestations of colonialism".
Authorities in Somalia have banned face masks in the capital, Mogadishu, due to security concerns. The spokesperson of the Mogadishu administration, Salah Dheere, says that face masks are being used by criminals to hide their identity and carry out illegal activity. Authorities also outlawed the wearing of hats and carrying weapons in public transport. But traditional sunnah hats worn by elders are exempt from the ban. Somalia has been plagued by insecurity for years, with the main threats emanating from the al-Shabab militant group.
Authorities in Somalia have banned face masks in the capital, Mogadishu, due to security concerns. The spokesperson of the Mogadishu administration, Salah Dheere, says that face masks are being used by criminals to hide their identity and carry out illegal activity. Authorities also outlawed the wearing of hats and carrying weapons in public transport. But traditional sunnah hats worn by elders are exempt from the ban. Somalia has been plagued by insecurity for years, with the main threats emanating from the al-Shabab militant group.
Authorities in Somalia have banned face masks in the capital, Mogadishu, due to security concerns. The spokesperson of the Mogadishu administration, Salah Dheere, says that face masks are being used by criminals to hide their identity and carry out illegal activity. Authorities also outlawed the wearing of hats and carrying weapons in public transport. But traditional sunnah hats worn by elders are exempt from the ban. Somalia has been plagued by insecurity for years, with the main threats emanating from the al-Shabab militant group.
Authorities in Somalia have banned face masks in the capital, Mogadishu, due to security concerns. The spokesperson of the Mogadishu administration, Salah Dheere, says that face masks are being used by criminals to hide their identity and carry out illegal activity. Authorities also outlawed the wearing of hats and carrying weapons in public transport. But traditional sunnah hats worn by elders are exempt from the ban. Somalia has been plagued by insecurity for years, with the main threats emanating from the al-Shabab militant group.
President Kais Saied has appointed a new governor of the central bank of Tunisia, a north African country in the throes of economic hardship. Saied named Fethi Zouhair Nouri, a 69-year-old member of the central bank’s board, to succeed Marouane Abassi, 64. Tunisia has grappled with a growing economic crisis following the COVID-19 pandemic, political tensions after Saied’s power grab in 2021, and Russia’s war in Ukraine. Nouri’s appointment came days after parliament passed a controversial amendment allowing the central bank to finance the public budget with an interest-free loan. The exiting central bank governor warned that the loan would lead to a decline in foreign currency reserves, with potentially negative effects on the Tunisian dinar.
President Kais Saied has appointed a new governor of the central bank of Tunisia, a north African country in the throes of economic hardship. Saied named Fethi Zouhair Nouri, a 69-year-old member of the central bank’s board, to succeed Marouane Abassi, 64. Tunisia has grappled with a growing economic crisis following the COVID-19 pandemic, political tensions after Saied’s power grab in 2021, and Russia’s war in Ukraine. Nouri’s appointment came days after parliament passed a controversial amendment allowing the central bank to finance the public budget with an interest-free loan. The exiting central bank governor warned that the loan would lead to a decline in foreign currency reserves, with potentially negative effects on the Tunisian dinar.
President Kais Saied has appointed a new governor of the central bank of Tunisia, a north African country in the throes of economic hardship. Saied named Fethi Zouhair Nouri, a 69-year-old member of the central bank’s board, to succeed Marouane Abassi, 64. Tunisia has grappled with a growing economic crisis following the COVID-19 pandemic, political tensions after Saied’s power grab in 2021, and Russia’s war in Ukraine. Nouri’s appointment came days after parliament passed a controversial amendment allowing the central bank to finance the public budget with an interest-free loan. The exiting central bank governor warned that the loan would lead to a decline in foreign currency reserves, with potentially negative effects on the Tunisian dinar.
President Kais Saied has appointed a new governor of the central bank of Tunisia, a north African country in the throes of economic hardship. Saied named Fethi Zouhair Nouri, a 69-year-old member of the central bank’s board, to succeed Marouane Abassi, 64. Tunisia has grappled with a growing economic crisis following the COVID-19 pandemic, political tensions after Saied’s power grab in 2021, and Russia’s war in Ukraine. Nouri’s appointment came days after parliament passed a controversial amendment allowing the central bank to finance the public budget with an interest-free loan. The exiting central bank governor warned that the loan would lead to a decline in foreign currency reserves, with potentially negative effects on the Tunisian dinar.
Nigeria's Power Minister Adebayo Adelabu says the country can no longer sustain the power subsidy. Mr Adelabu says that subsidising the cost of electricity had resulted in the government owing a debt of 1.3 trillion naira to power generating companies and an additional $1.3bn to gas companies. The minister added that Nigeria has allocated 450 billion naira to electricity subsidies this year, but findings show that the subsidies could end up costing 2.9 trillion naira. The International Monetary Fund earlier advised Nigeria to remove the electricity subsidy to restore economic stability, but some Nigerians fear that the subsidy's withdrawal could worsen economic hardship.
Nigeria's Power Minister Adebayo Adelabu says the country can no longer sustain the power subsidy. Mr Adelabu says that subsidising the cost of electricity had resulted in the government owing a debt of 1.3 trillion naira to power generating companies and an additional $1.3bn to gas companies. The minister added that Nigeria has allocated 450 billion naira to electricity subsidies this year, but findings show that the subsidies could end up costing 2.9 trillion naira. The International Monetary Fund earlier advised Nigeria to remove the electricity subsidy to restore economic stability, but some Nigerians fear that the subsidy's withdrawal could worsen economic hardship.
Nigeria's Power Minister Adebayo Adelabu says the country can no longer sustain the power subsidy. Mr Adelabu says that subsidising the cost of electricity had resulted in the government owing a debt of 1.3 trillion naira to power generating companies and an additional $1.3bn to gas companies. The minister added that Nigeria has allocated 450 billion naira to electricity subsidies this year, but findings show that the subsidies could end up costing 2.9 trillion naira. The International Monetary Fund earlier advised Nigeria to remove the electricity subsidy to restore economic stability, but some Nigerians fear that the subsidy's withdrawal could worsen economic hardship.
Nigeria's Power Minister Adebayo Adelabu says the country can no longer sustain the power subsidy. Mr Adelabu says that subsidising the cost of electricity had resulted in the government owing a debt of 1.3 trillion naira to power generating companies and an additional $1.3bn to gas companies. The minister added that Nigeria has allocated 450 billion naira to electricity subsidies this year, but findings show that the subsidies could end up costing 2.9 trillion naira. The International Monetary Fund earlier advised Nigeria to remove the electricity subsidy to restore economic stability, but some Nigerians fear that the subsidy's withdrawal could worsen economic hardship.
The National Bureau of Statistics says the country’s headline inflation moved to 29.90% per cent in January 2024. NBS says in January 2024, the headline inflation rate increased to 29.90% relative to the December 2023 headline inflation rate which was 28.92%. The NBS, says the food inflation, on a year-on-year basis, was 35.41%,11.10% points higher compared to the rate recorded in January 2023 (24.32%). The Central Bank of Nigeria is optimistic that the figures will go down this year despite the soaring inflation rates.
The National Bureau of Statistics says the country’s headline inflation moved to 29.90% per cent in January 2024. NBS says in January 2024, the headline inflation rate increased to 29.90% relative to the December 2023 headline inflation rate which was 28.92%. The NBS, says the food inflation, on a year-on-year basis, was 35.41%,11.10% points higher compared to the rate recorded in January 2023 (24.32%). The Central Bank of Nigeria is optimistic that the figures will go down this year despite the soaring inflation rates.
The National Bureau of Statistics says the country’s headline inflation moved to 29.90% per cent in January 2024. NBS says in January 2024, the headline inflation rate increased to 29.90% relative to the December 2023 headline inflation rate which was 28.92%. The NBS, says the food inflation, on a year-on-year basis, was 35.41%,11.10% points higher compared to the rate recorded in January 2023 (24.32%). The Central Bank of Nigeria is optimistic that the figures will go down this year despite the soaring inflation rates.
The National Bureau of Statistics says the country’s headline inflation moved to 29.90% per cent in January 2024. NBS says in January 2024, the headline inflation rate increased to 29.90% relative to the December 2023 headline inflation rate which was 28.92%. The NBS, says the food inflation, on a year-on-year basis, was 35.41%,11.10% points higher compared to the rate recorded in January 2023 (24.32%). The Central Bank of Nigeria is optimistic that the figures will go down this year despite the soaring inflation rates.
A narrowly divided US Senate moved closer to passing a $95.34bn aid package for Ukraine, Israel and Taiwan, showing undiminished bipartisanship despite mounting opposition from Republican hardliners and former US President Donald Trump. Democratic President Joe Biden, who has been seeking the aid for months, says Congress would be guilty of neglect if it failed to pass the measure. The bill includes $61bn for Ukraine, $14bn for Israel in its war against Hamas and $4.83bn to support partners in the Indo-Pacific, including Taiwan, and deter aggression by China. It also would provide $9.15bn in humanitarian assistance to civilians in Gaza and the West Bank, Ukraine and other conflict zones around the globe.
A narrowly divided US Senate moved closer to passing a $95.34bn aid package for Ukraine, Israel and Taiwan, showing undiminished bipartisanship despite mounting opposition from Republican hardliners and former US President Donald Trump. Democratic President Joe Biden, who has been seeking the aid for months, says Congress would be guilty of neglect if it failed to pass the measure. The bill includes $61bn for Ukraine, $14bn for Israel in its war against Hamas and $4.83bn to support partners in the Indo-Pacific, including Taiwan, and deter aggression by China. It also would provide $9.15bn in humanitarian assistance to civilians in Gaza and the West Bank, Ukraine and other conflict zones around the globe.
Ghana's government has suspended plans to implement a new 15% tax on power, following a public uproar that it will worsen the cost-of-living crisis. The value-added tax was to be levied on domestic consumers of electricity. The government introduced it to boost its revenue after pressure from the International Monetary Fund however labour unions opposed the tax and announced nationwide protests against it next week. The finance ministry directed the two main power distributors - the Electricity Company of Ghana (ECG) and the Northern Electricity Distribution Company (NEDCO) - to put the new levy on hold. Authorities say the tax has been put on hold until talks are held to resolve the dispute.
Ghana's government has suspended plans to implement a new 15% tax on power, following a public uproar that it will worsen the cost-of-living crisis. The value-added tax was to be levied on domestic consumers of electricity. The government introduced it to boost its revenue after pressure from the International Monetary Fund however labour unions opposed the tax and announced nationwide protests against it next week. The finance ministry directed the two main power distributors - the Electricity Company of Ghana (ECG) and the Northern Electricity Distribution Company (NEDCO) - to put the new levy on hold. Authorities say the tax has been put on hold until talks are held to resolve the dispute.
Ghana's government has suspended plans to implement a new 15% tax on power, following a public uproar that it will worsen the cost-of-living crisis. The value-added tax was to be levied on domestic consumers of electricity. The government introduced it to boost its revenue after pressure from the International Monetary Fund however labour unions opposed the tax and announced nationwide protests against it next week. The finance ministry directed the two main power distributors - the Electricity Company of Ghana (ECG) and the Northern Electricity Distribution Company (NEDCO) - to put the new levy on hold. Authorities say the tax has been put on hold until talks are held to resolve the dispute.
Ghana's government has suspended plans to implement a new 15% tax on power, following a public uproar that it will worsen the cost-of-living crisis. The value-added tax was to be levied on domestic consumers of electricity. The government introduced it to boost its revenue after pressure from the International Monetary Fund however labour unions opposed the tax and announced nationwide protests against it next week. The finance ministry directed the two main power distributors - the Electricity Company of Ghana (ECG) and the Northern Electricity Distribution Company (NEDCO) - to put the new levy on hold. Authorities say the tax has been put on hold until talks are held to resolve the dispute.
Ghana's opposition presidential candidate John Mahama has opposed a proposal for the general elections to be brought forward to November from December this year. The Electoral Commission says the proposal, initially put forward by the political parties, aimed to allow sufficient time for the commission to effectively manage its operations, particularly in the event of a run-off. Mr Mahama, the National Democratic Congress party candidate, however, says the proposed date change for the general elections was not feasible. The former president urged the commission to get its house together to ensure credible polls. The commission is also considering designating all election days as national holidays to help boost turnout.
Ghana's opposition presidential candidate John Mahama has opposed a proposal for the general elections to be brought forward to November from December this year. The Electoral Commission says the proposal, initially put forward by the political parties, aimed to allow sufficient time for the commission to effectively manage its operations, particularly in the event of a run-off. Mr Mahama, the National Democratic Congress party candidate, however, says the proposed date change for the general elections was not feasible. The former president urged the commission to get its house together to ensure credible polls. The commission is also considering designating all election days as national holidays to help boost turnout.
Ghana's opposition presidential candidate John Mahama has opposed a proposal for the general elections to be brought forward to November from December this year. The Electoral Commission says the proposal, initially put forward by the political parties, aimed to allow sufficient time for the commission to effectively manage its operations, particularly in the event of a run-off. Mr Mahama, the National Democratic Congress party candidate, however, says the proposed date change for the general elections was not feasible. The former president urged the commission to get its house together to ensure credible polls. The commission is also considering designating all election days as national holidays to help boost turnout.
Ghana's opposition presidential candidate John Mahama has opposed a proposal for the general elections to be brought forward to November from December this year. The Electoral Commission says the proposal, initially put forward by the political parties, aimed to allow sufficient time for the commission to effectively manage its operations, particularly in the event of a run-off. Mr Mahama, the National Democratic Congress party candidate, however, says the proposed date change for the general elections was not feasible. The former president urged the commission to get its house together to ensure credible polls. The commission is also considering designating all election days as national holidays to help boost turnout.
South Africa's Electricity Minister Kgosientsh Ramokgopa has ruled out claims that sabotage is behind the country's worsening power cuts. South Africa has been experiencing its most extreme power outages since November, prompting widespread outrage on social media. The secretary general of the ruling ANC party Fikile Mbalula alleged that the intensified power cuts were clear sabotage and called for strong extra security measures. Mr Ramokgopa rejected the claims saying that the extreme power outages had been caused by leaking boiler tubes, which are used in the generation of electricity in power plants. The electricity minister says that the leakages had caused the simultaneous failure of nine major power units.
South Africa's Electricity Minister Kgosientsh Ramokgopa has ruled out claims that sabotage is behind the country's worsening power cuts. South Africa has been experiencing its most extreme power outages since November, prompting widespread outrage on social media. The secretary general of the ruling ANC party Fikile Mbalula alleged that the intensified power cuts were clear sabotage and called for strong extra security measures. Mr Ramokgopa rejected the claims saying that the extreme power outages had been caused by leaking boiler tubes, which are used in the generation of electricity in power plants. The electricity minister says that the leakages had caused the simultaneous failure of nine major power units.
South Africa's Electricity Minister Kgosientsh Ramokgopa has ruled out claims that sabotage is behind the country's worsening power cuts. South Africa has been experiencing its most extreme power outages since November, prompting widespread outrage on social media. The secretary general of the ruling ANC party Fikile Mbalula alleged that the intensified power cuts were clear sabotage and called for strong extra security measures. Mr Ramokgopa rejected the claims saying that the extreme power outages had been caused by leaking boiler tubes, which are used in the generation of electricity in power plants. The electricity minister says that the leakages had caused the simultaneous failure of nine major power units.
South Africa's Electricity Minister Kgosientsh Ramokgopa has ruled out claims that sabotage is behind the country's worsening power cuts. South Africa has been experiencing its most extreme power outages since November, prompting widespread outrage on social media. The secretary general of the ruling ANC party Fikile Mbalula alleged that the intensified power cuts were clear sabotage and called for strong extra security measures. Mr Ramokgopa rejected the claims saying that the extreme power outages had been caused by leaking boiler tubes, which are used in the generation of electricity in power plants. The electricity minister says that the leakages had caused the simultaneous failure of nine major power units.
The International Monetary Fund says stalled per-capita growth, poverty and high food insecurity have exacerbated the ongoing cost-of-living crisis in Nigeria. The global lender says low revenue collection has hampered the provision of services and public investment. It noted that headline inflation reached 27 per cent year-on-year in October (food inflation 32 per cent), reflecting the effects of fuel subsidy removal, exchange rate depreciation, and poor agricultural production in the country. It added that Nigeria faces a difficult external environment and wide-ranging domestic challenges. External financing (market and official) is scarce, and global food prices have surged, reflecting the repercussions of conflict and geo-economic fragmentation.
The International Monetary Fund says stalled per-capita growth, poverty and high food insecurity have exacerbated the ongoing cost-of-living crisis in Nigeria. The global lender says low revenue collection has hampered the provision of services and public investment. It noted that headline inflation reached 27 per cent year-on-year in October (food inflation 32 per cent), reflecting the effects of fuel subsidy removal, exchange rate depreciation, and poor agricultural production in the country. It added that Nigeria faces a difficult external environment and wide-ranging domestic challenges. External financing (market and official) is scarce, and global food prices have surged, reflecting the repercussions of conflict and geo-economic fragmentation.
The International Monetary Fund says stalled per-capita growth, poverty and high food insecurity have exacerbated the ongoing cost-of-living crisis in Nigeria. The global lender says low revenue collection has hampered the provision of services and public investment. It noted that headline inflation reached 27 per cent year-on-year in October (food inflation 32 per cent), reflecting the effects of fuel subsidy removal, exchange rate depreciation, and poor agricultural production in the country. It added that Nigeria faces a difficult external environment and wide-ranging domestic challenges. External financing (market and official) is scarce, and global food prices have surged, reflecting the repercussions of conflict and geo-economic fragmentation.
The International Monetary Fund says stalled per-capita growth, poverty and high food insecurity have exacerbated the ongoing cost-of-living crisis in Nigeria. The global lender says low revenue collection has hampered the provision of services and public investment. It noted that headline inflation reached 27 per cent year-on-year in October (food inflation 32 per cent), reflecting the effects of fuel subsidy removal, exchange rate depreciation, and poor agricultural production in the country. It added that Nigeria faces a difficult external environment and wide-ranging domestic challenges. External financing (market and official) is scarce, and global food prices have surged, reflecting the repercussions of conflict and geo-economic fragmentation.
Hungarian President Katalin Novak announced her resignation after coming under mounting pressure to pardon a man convicted as an accomplice for helping cover up a sex abuse case in a children’s home. She says she decided to grant a pardon last April, believing that the convict did not abuse the vulnerability of children whom he had overseen. At least 1,000 people protested in the country’s capital on Friday, demanding her resignation. Hungarian opposition parties had also demanded she leave office. Novak decided to pardon some two dozen people in April 2023, in advance of a visit by Pope Francis, among them the deputy director of a children’s home who helped the former director of the home hide his crimes. Novak says she would never pardon a paedophile, including in this case. She said the reason behind her decision was not public and all pardons were divisive by their nature.
Hungarian President Katalin Novak announced her resignation after coming under mounting pressure to pardon a man convicted as an accomplice for helping cover up a sex abuse case in a children’s home. She says she decided to grant a pardon last April, believing that the convict did not abuse the vulnerability of children whom he had overseen. At least 1,000 people protested in the country’s capital on Friday, demanding her resignation. Hungarian opposition parties had also demanded she leave office. Novak decided to pardon some two dozen people in April 2023, in advance of a visit by Pope Francis, among them the deputy director of a children’s home who helped the former director of the home hide his crimes. Novak says she would never pardon a paedophile, including in this case. She said the reason behind her decision was not public and all pardons were divisive by their nature.
Hungarian President Katalin Novak announced her resignation after coming under mounting pressure to pardon a man convicted as an accomplice for helping cover up a sex abuse case in a children’s home. She says she decided to grant a pardon last April, believing that the convict did not abuse the vulnerability of children whom he had overseen. At least 1,000 people protested in the country’s capital on Friday, demanding her resignation. Hungarian opposition parties had also demanded she leave office. Novak decided to pardon some two dozen people in April 2023, in advance of a visit by Pope Francis, among them the deputy director of a children’s home who helped the former director of the home hide his crimes. Novak says she would never pardon a paedophile, including in this case. She said the reason behind her decision was not public and all pardons were divisive by their nature.
Hungarian President Katalin Novak announced her resignation after coming under mounting pressure to pardon a man convicted as an accomplice for helping cover up a sex abuse case in a children’s home. She says she decided to grant a pardon last April, believing that the convict did not abuse the vulnerability of children whom he had overseen. At least 1,000 people protested in the country’s capital on Friday, demanding her resignation. Hungarian opposition parties had also demanded she leave office. Novak decided to pardon some two dozen people in April 2023, in advance of a visit by Pope Francis, among them the deputy director of a children’s home who helped the former director of the home hide his crimes. Novak says she would never pardon a paedophile, including in this case. She said the reason behind her decision was not public and all pardons were divisive by their nature.
A narrowly divided US Senate moved closer to passing a $95.34bn aid package for Ukraine, Israel and Taiwan, showing undiminished bipartisanship despite mounting opposition from Republican hardliners and former US President Donald Trump. Democratic President Joe Biden, who has been seeking the aid for months, says Congress would be guilty of neglect if it failed to pass the measure. The bill includes $61bn for Ukraine, $14bn for Israel in its war against Hamas and $4.83bn to support partners in the Indo-Pacific, including Taiwan, and deter aggression by China. It also would provide $9.15bn in humanitarian assistance to civilians in Gaza and the West Bank, Ukraine and other conflict zones around the globe.
A narrowly divided US Senate moved closer to passing a $95.34bn aid package for Ukraine, Israel and Taiwan, showing undiminished bipartisanship despite mounting opposition from Republican hardliners and former US President Donald Trump. Democratic President Joe Biden, who has been seeking the aid for months, says Congress would be guilty of neglect if it failed to pass the measure. The bill includes $61bn for Ukraine, $14bn for Israel in its war against Hamas and $4.83bn to support partners in the Indo-Pacific, including Taiwan, and deter aggression by China. It also would provide $9.15bn in humanitarian assistance to civilians in Gaza and the West Bank, Ukraine and other conflict zones around the globe.
Israel's Prime Minister Benjamin Netanyahu has rejected Hamas's proposed ceasefire terms saying total victory in Gaza is possible within months. He was speaking after Hamas laid out a series of demands in response to an Israel-backed ceasefire proposal. Mr Netanyahu says negotiations with the group were not going anywhere and described their terms as bizarre. Senior Hamas official Sami Abu Zuhri says that Mr Netanyahu's remarks are a form of political bravado and show he intends to pursue the conflict in the region.
Israel's Prime Minister Benjamin Netanyahu has rejected Hamas's proposed ceasefire terms saying total victory in Gaza is possible within months. He was speaking after Hamas laid out a series of demands in response to an Israel-backed ceasefire proposal. Mr Netanyahu says negotiations with the group were not going anywhere and described their terms as bizarre. Senior Hamas official Sami Abu Zuhri says that Mr Netanyahu's remarks are a form of political bravado and show he intends to pursue the conflict in the region.
Israel's Prime Minister Benjamin Netanyahu has rejected Hamas's proposed ceasefire terms saying total victory in Gaza is possible within months. He was speaking after Hamas laid out a series of demands in response to an Israel-backed ceasefire proposal. Mr Netanyahu says negotiations with the group were not going anywhere and described their terms as bizarre. Senior Hamas official Sami Abu Zuhri says that Mr Netanyahu's remarks are a form of political bravado and show he intends to pursue the conflict in the region.
Israel's Prime Minister Benjamin Netanyahu has rejected Hamas's proposed ceasefire terms saying total victory in Gaza is possible within months. He was speaking after Hamas laid out a series of demands in response to an Israel-backed ceasefire proposal. Mr Netanyahu says negotiations with the group were not going anywhere and described their terms as bizarre. Senior Hamas official Sami Abu Zuhri says that Mr Netanyahu's remarks are a form of political bravado and show he intends to pursue the conflict in the region.
Nigeria’s one-year treasury bill was oversubscribed by 300 per cent during the Primary Market Auction by the Central Bank of Nigeria. Results from the auction showed that the one-year T-bill was the toast of investors who offered N1.87tn for the N600bn on offer, out of which N908.75bn was allotted with stop rates of 19 per cent. Investors bid between 13 per cent and 29.9 per cent as interest rates. The Managing Director of Arthur Steven Asset Management, Tunde Amolegbe, said that the performance of the one-year bills showed that investors had confidence in the current government and the reforms it had embarked on.
Nigeria’s one-year treasury bill was oversubscribed by 300 per cent during the Primary Market Auction by the Central Bank of Nigeria. Results from the auction showed that the one-year T-bill was the toast of investors who offered N1.87tn for the N600bn on offer, out of which N908.75bn was allotted with stop rates of 19 per cent. Investors bid between 13 per cent and 29.9 per cent as interest rates. The Managing Director of Arthur Steven Asset Management, Tunde Amolegbe, said that the performance of the one-year bills showed that investors had confidence in the current government and the reforms it had embarked on.
Nigeria’s one-year treasury bill was oversubscribed by 300 per cent during the Primary Market Auction by the Central Bank of Nigeria. Results from the auction showed that the one-year T-bill was the toast of investors who offered N1.87tn for the N600bn on offer, out of which N908.75bn was allotted with stop rates of 19 per cent. Investors bid between 13 per cent and 29.9 per cent as interest rates. The Managing Director of Arthur Steven Asset Management, Tunde Amolegbe, said that the performance of the one-year bills showed that investors had confidence in the current government and the reforms it had embarked on.
Nigeria’s one-year treasury bill was oversubscribed by 300 per cent during the Primary Market Auction by the Central Bank of Nigeria. Results from the auction showed that the one-year T-bill was the toast of investors who offered N1.87tn for the N600bn on offer, out of which N908.75bn was allotted with stop rates of 19 per cent. Investors bid between 13 per cent and 29.9 per cent as interest rates. The Managing Director of Arthur Steven Asset Management, Tunde Amolegbe, said that the performance of the one-year bills showed that investors had confidence in the current government and the reforms it had embarked on.
The Federal High Court sitting in Lagos ordered the Federal Government to fix the price of goods and petroleum products within seven days. Justice Ambrose Lewis-Allagoa granted the order sequel to an originating motion filed and argued by the applicant, Senior Advocate of Nigeria, Femi Falana. Falana had dragged the Price Control Board and the Attorney General of the Federation, both of whom are listed as defendants before the court to determine “whether by virtue of Section 4 (1) of the Price Control Act, Laws of the Federation of Nigeria, 2004, the first defendant is carrying out its duty to impose a price on any goods that are of the kind specified in the First Schedule to the Price Control Act.” He also noted that the Act gives the Price Control Board powers to fix the prices of this wide array of commodities.
The Federal High Court sitting in Lagos ordered the Federal Government to fix the price of goods and petroleum products within seven days. Justice Ambrose Lewis-Allagoa granted the order sequel to an originating motion filed and argued by the applicant, Senior Advocate of Nigeria, Femi Falana. Falana had dragged the Price Control Board and the Attorney General of the Federation, both of whom are listed as defendants before the court to determine “whether by virtue of Section 4 (1) of the Price Control Act, Laws of the Federation of Nigeria, 2004, the first defendant is carrying out its duty to impose a price on any goods that are of the kind specified in the First Schedule to the Price Control Act.” He also noted that the Act gives the Price Control Board powers to fix the prices of this wide array of commodities.
The Federal High Court sitting in Lagos ordered the Federal Government to fix the price of goods and petroleum products within seven days. Justice Ambrose Lewis-Allagoa granted the order sequel to an originating motion filed and argued by the applicant, Senior Advocate of Nigeria, Femi Falana. Falana had dragged the Price Control Board and the Attorney General of the Federation, both of whom are listed as defendants before the court to determine “whether by virtue of Section 4 (1) of the Price Control Act, Laws of the Federation of Nigeria, 2004, the first defendant is carrying out its duty to impose a price on any goods that are of the kind specified in the First Schedule to the Price Control Act.” He also noted that the Act gives the Price Control Board powers to fix the prices of this wide array of commodities.
The Federal High Court sitting in Lagos ordered the Federal Government to fix the price of goods and petroleum products within seven days. Justice Ambrose Lewis-Allagoa granted the order sequel to an originating motion filed and argued by the applicant, Senior Advocate of Nigeria, Femi Falana. Falana had dragged the Price Control Board and the Attorney General of the Federation, both of whom are listed as defendants before the court to determine “whether by virtue of Section 4 (1) of the Price Control Act, Laws of the Federation of Nigeria, 2004, the first defendant is carrying out its duty to impose a price on any goods that are of the kind specified in the First Schedule to the Price Control Act.” He also noted that the Act gives the Price Control Board powers to fix the prices of this wide array of commodities.
Rights group Amnesty International says Madagascar should abolish a new law which allows for the chemical and surgical castration of people convicted of raping minors as it was "cruel, inhuman and degrading. Last month, President Andry Rajoelina proposed the amendments to the penal code - that include chemical and surgical castration as punishment for individuals found guilty of rape against minors. Tigere Chagutah, Amnesty's regional director for east and southern Africa, says rape cases remain under-reported, and perpetrators often go free due to the victims' and their families' fear of retaliation, stigmatisation, and a lack of trust in the judicial system. He says Implementing chemical and surgical castration as a punishment will not solve this and is inconsistent with Malagasy constitutional provisions against torture and other ill-treatment, as well as regional and international human rights standards."
Rights group Amnesty International says Madagascar should abolish a new law which allows for the chemical and surgical castration of people convicted of raping minors as it was "cruel, inhuman and degrading. Last month, President Andry Rajoelina proposed the amendments to the penal code - that include chemical and surgical castration as punishment for individuals found guilty of rape against minors. Tigere Chagutah, Amnesty's regional director for east and southern Africa, says rape cases remain under-reported, and perpetrators often go free due to the victims' and their families' fear of retaliation, stigmatisation, and a lack of trust in the judicial system. He says Implementing chemical and surgical castration as a punishment will not solve this and is inconsistent with Malagasy constitutional provisions against torture and other ill-treatment, as well as regional and international human rights standards."
Rights group Amnesty International says Madagascar should abolish a new law which allows for the chemical and surgical castration of people convicted of raping minors as it was "cruel, inhuman and degrading. Last month, President Andry Rajoelina proposed the amendments to the penal code - that include chemical and surgical castration as punishment for individuals found guilty of rape against minors. Tigere Chagutah, Amnesty's regional director for east and southern Africa, says rape cases remain under-reported, and perpetrators often go free due to the victims' and their families' fear of retaliation, stigmatisation, and a lack of trust in the judicial system. He says Implementing chemical and surgical castration as a punishment will not solve this and is inconsistent with Malagasy constitutional provisions against torture and other ill-treatment, as well as regional and international human rights standards."
Rights group Amnesty International says Madagascar should abolish a new law which allows for the chemical and surgical castration of people convicted of raping minors as it was "cruel, inhuman and degrading. Last month, President Andry Rajoelina proposed the amendments to the penal code - that include chemical and surgical castration as punishment for individuals found guilty of rape against minors. Tigere Chagutah, Amnesty's regional director for east and southern Africa, says rape cases remain under-reported, and perpetrators often go free due to the victims' and their families' fear of retaliation, stigmatisation, and a lack of trust in the judicial system. He says Implementing chemical and surgical castration as a punishment will not solve this and is inconsistent with Malagasy constitutional provisions against torture and other ill-treatment, as well as regional and international human rights standards."
India's parliament has passed a stringent new law to prevent cheating in exams for government jobs and admission to public colleges. The Public Examinations (Prevention of Unfair Means) Act, 2024 - which was passed carries a jail sentence of three to 10 years for those who facilitate cheating. It also carries a fine ranging between 1 million rupees and 10 million rupees. The new law does not impose penalties directly on test takers; instead, their punishments will be determined by the rules set forth by their respective testing authorities. The law will be applicable to most exams conducted by the federal government and its test agencies. All offences are non-bailable and will be investigated by senior police officials. The Bharatiya Janata Party led government says the act will bring greater transparency, fairness and credibility as it is the first federal legislation to prevent malpractices in examinations.
India's parliament has passed a stringent new law to prevent cheating in exams for government jobs and admission to public colleges. The Public Examinations (Prevention of Unfair Means) Act, 2024 - which was passed carries a jail sentence of three to 10 years for those who facilitate cheating. It also carries a fine ranging between 1 million rupees and 10 million rupees. The new law does not impose penalties directly on test takers; instead, their punishments will be determined by the rules set forth by their respective testing authorities. The law will be applicable to most exams conducted by the federal government and its test agencies. All offences are non-bailable and will be investigated by senior police officials. The Bharatiya Janata Party led government says the act will bring greater transparency, fairness and credibility as it is the first federal legislation to prevent malpractices in examinations.
India's parliament has passed a stringent new law to prevent cheating in exams for government jobs and admission to public colleges. The Public Examinations (Prevention of Unfair Means) Act, 2024 - which was passed carries a jail sentence of three to 10 years for those who facilitate cheating. It also carries a fine ranging between 1 million rupees and 10 million rupees. The new law does not impose penalties directly on test takers; instead, their punishments will be determined by the rules set forth by their respective testing authorities. The law will be applicable to most exams conducted by the federal government and its test agencies. All offences are non-bailable and will be investigated by senior police officials. The Bharatiya Janata Party led government says the act will bring greater transparency, fairness and credibility as it is the first federal legislation to prevent malpractices in examinations.
India's parliament has passed a stringent new law to prevent cheating in exams for government jobs and admission to public colleges. The Public Examinations (Prevention of Unfair Means) Act, 2024 - which was passed carries a jail sentence of three to 10 years for those who facilitate cheating. It also carries a fine ranging between 1 million rupees and 10 million rupees. The new law does not impose penalties directly on test takers; instead, their punishments will be determined by the rules set forth by their respective testing authorities. The law will be applicable to most exams conducted by the federal government and its test agencies. All offences are non-bailable and will be investigated by senior police officials. The Bharatiya Janata Party led government says the act will bring greater transparency, fairness and credibility as it is the first federal legislation to prevent malpractices in examinations.
Zimbabwe's cabinet has supported proposed legislation to end the death penalty, marking a pivotal point in abolishing capital punishment in the southern African country. Information Minister Jenfan Muswere says that the cabinet's decision was made following countrywide consultations. Should parliament approve the bill, life imprisonment will serve as the maximum sentence. President Emmerson Mnangagwa has previously criticised capital punishment. He was sentenced to death in 1965 following accusations that he bombed a train while fighting against white minority rule.
Zimbabwe's cabinet has supported proposed legislation to end the death penalty, marking a pivotal point in abolishing capital punishment in the southern African country. Information Minister Jenfan Muswere says that the cabinet's decision was made following countrywide consultations. Should parliament approve the bill, life imprisonment will serve as the maximum sentence. President Emmerson Mnangagwa has previously criticised capital punishment. He was sentenced to death in 1965 following accusations that he bombed a train while fighting against white minority rule.
Zimbabwe's cabinet has supported proposed legislation to end the death penalty, marking a pivotal point in abolishing capital punishment in the southern African country. Information Minister Jenfan Muswere says that the cabinet's decision was made following countrywide consultations. Should parliament approve the bill, life imprisonment will serve as the maximum sentence. President Emmerson Mnangagwa has previously criticised capital punishment. He was sentenced to death in 1965 following accusations that he bombed a train while fighting against white minority rule.
Zimbabwe's cabinet has supported proposed legislation to end the death penalty, marking a pivotal point in abolishing capital punishment in the southern African country. Information Minister Jenfan Muswere says that the cabinet's decision was made following countrywide consultations. Should parliament approve the bill, life imprisonment will serve as the maximum sentence. President Emmerson Mnangagwa has previously criticised capital punishment. He was sentenced to death in 1965 following accusations that he bombed a train while fighting against white minority rule.
The Minister of Power, Bayi Adelabu, has assured Nigerians there would be incremental power supply. Adelabu appealed for calm, saying the power sector would soon receive a boost. The minister‘s assurance comes on the heels of lingering low power supply and the collapse of the national grid. Stakeholders in the sector blamed the low gas supply for the current outage. He stated that the blackout we have been experiencing is because gas supply to the GenCos has been reduced and that was due to indebtedness and the minister is looking into it.
The Minister of Power, Bayi Adelabu, has assured Nigerians there would be incremental power supply. Adelabu appealed for calm, saying the power sector would soon receive a boost. The minister‘s assurance comes on the heels of lingering low power supply and the collapse of the national grid. Stakeholders in the sector blamed the low gas supply for the current outage. He stated that the blackout we have been experiencing is because gas supply to the GenCos has been reduced and that was due to indebtedness and the minister is looking into it.
The Minister of Power, Bayi Adelabu, has assured Nigerians there would be incremental power supply. Adelabu appealed for calm, saying the power sector would soon receive a boost. The minister‘s assurance comes on the heels of lingering low power supply and the collapse of the national grid. Stakeholders in the sector blamed the low gas supply for the current outage. He stated that the blackout we have been experiencing is because gas supply to the GenCos has been reduced and that was due to indebtedness and the minister is looking into it.
The Minister of Power, Bayi Adelabu, has assured Nigerians there would be incremental power supply. Adelabu appealed for calm, saying the power sector would soon receive a boost. The minister‘s assurance comes on the heels of lingering low power supply and the collapse of the national grid. Stakeholders in the sector blamed the low gas supply for the current outage. He stated that the blackout we have been experiencing is because gas supply to the GenCos has been reduced and that was due to indebtedness and the minister is looking into it.
China says Chinese developers must now install monitoring equipment at their projects, under official measures which took effect this month. The rules apply to firms that have received at least 30 million yuan ($4.2m) of government funding. It comes as authorities move to support China's crisis-hit property industry. The National Development and Reform Commission says that it was moving to regulate the implementation of projects and the use of funding. The rules are part of the Chinese government's efforts to ensure that funds being used to prop up struggling property developers are being used for their intended purposes.
China says Chinese developers must now install monitoring equipment at their projects, under official measures which took effect this month. The rules apply to firms that have received at least 30 million yuan ($4.2m) of government funding. It comes as authorities move to support China's crisis-hit property industry. The National Development and Reform Commission says that it was moving to regulate the implementation of projects and the use of funding. The rules are part of the Chinese government's efforts to ensure that funds being used to prop up struggling property developers are being used for their intended purposes.
China says Chinese developers must now install monitoring equipment at their projects, under official measures which took effect this month. The rules apply to firms that have received at least 30 million yuan ($4.2m) of government funding. It comes as authorities move to support China's crisis-hit property industry. The National Development and Reform Commission says that it was moving to regulate the implementation of projects and the use of funding. The rules are part of the Chinese government's efforts to ensure that funds being used to prop up struggling property developers are being used for their intended purposes.
China says Chinese developers must now install monitoring equipment at their projects, under official measures which took effect this month. The rules apply to firms that have received at least 30 million yuan ($4.2m) of government funding. It comes as authorities move to support China's crisis-hit property industry. The National Development and Reform Commission says that it was moving to regulate the implementation of projects and the use of funding. The rules are part of the Chinese government's efforts to ensure that funds being used to prop up struggling property developers are being used for their intended purposes.
US Central Command (Centcom) says the US carried out more strikes against Houthi missiles in Yemen. Centcom says US forces struck a land-attack cruise missile and four anti-ship missiles that were prepared to launch against ships in the Red Sea. The Houthis' attacks have forced major shipping companies to avoid the waterway, impacting international trade. Egypt says its revenue from the Suez Canal plunged by almost half in January, with the number of ships travelling through the key trade artery last month down by more than a third. Houthi officials struck a defiant tone in response to the US-led strikes - and vowed to respond.
US Central Command (Centcom) says the US carried out more strikes against Houthi missiles in Yemen. Centcom says US forces struck a land-attack cruise missile and four anti-ship missiles that were prepared to launch against ships in the Red Sea. The Houthis' attacks have forced major shipping companies to avoid the waterway, impacting international trade. Egypt says its revenue from the Suez Canal plunged by almost half in January, with the number of ships travelling through the key trade artery last month down by more than a third. Houthi officials struck a defiant tone in response to the US-led strikes - and vowed to respond.
US Central Command (Centcom) says the US carried out more strikes against Houthi missiles in Yemen. Centcom says US forces struck a land-attack cruise missile and four anti-ship missiles that were prepared to launch against ships in the Red Sea. The Houthis' attacks have forced major shipping companies to avoid the waterway, impacting international trade. Egypt says its revenue from the Suez Canal plunged by almost half in January, with the number of ships travelling through the key trade artery last month down by more than a third. Houthi officials struck a defiant tone in response to the US-led strikes - and vowed to respond.
US Central Command (Centcom) says the US carried out more strikes against Houthi missiles in Yemen. Centcom says US forces struck a land-attack cruise missile and four anti-ship missiles that were prepared to launch against ships in the Red Sea. The Houthis' attacks have forced major shipping companies to avoid the waterway, impacting international trade. Egypt says its revenue from the Suez Canal plunged by almost half in January, with the number of ships travelling through the key trade artery last month down by more than a third. Houthi officials struck a defiant tone in response to the US-led strikes - and vowed to respond.
A fuel emissions levy has taken effect in Ghana, sparking mixed reactions. The government now requires Ghanaians to pay an annual levy for the carbon emissions produced by their petrol or diesel-powered vehicles. Several citizens are opposing the charge, which they see as an added burden amid an ongoing economic crisis. The tax agency, the Ghana Revenue Authority says that the levy aligns with the government's plans to promote the use of eco-friendly technology and green energy. The GRA will begin immediately collecting the annual levy, approved by parliament in December.
A fuel emissions levy has taken effect in Ghana, sparking mixed reactions. The government now requires Ghanaians to pay an annual levy for the carbon emissions produced by their petrol or diesel-powered vehicles. Several citizens are opposing the charge, which they see as an added burden amid an ongoing economic crisis. The tax agency, the Ghana Revenue Authority says that the levy aligns with the government's plans to promote the use of eco-friendly technology and green energy. The GRA will begin immediately collecting the annual levy, approved by parliament in December.
A fuel emissions levy has taken effect in Ghana, sparking mixed reactions. The government now requires Ghanaians to pay an annual levy for the carbon emissions produced by their petrol or diesel-powered vehicles. Several citizens are opposing the charge, which they see as an added burden amid an ongoing economic crisis. The tax agency, the Ghana Revenue Authority says that the levy aligns with the government's plans to promote the use of eco-friendly technology and green energy. The GRA will begin immediately collecting the annual levy, approved by parliament in December.
A fuel emissions levy has taken effect in Ghana, sparking mixed reactions. The government now requires Ghanaians to pay an annual levy for the carbon emissions produced by their petrol or diesel-powered vehicles. Several citizens are opposing the charge, which they see as an added burden amid an ongoing economic crisis. The tax agency, the Ghana Revenue Authority says that the levy aligns with the government's plans to promote the use of eco-friendly technology and green energy. The GRA will begin immediately collecting the annual levy, approved by parliament in December.
Namibia has a new president in the shape of Nangolo Mbumba just hours after, as vice-president, he had announced the death of his predecessor. Hage Geingob, 82, died early on Sunday while receiving medical treatment at a hospital in the capital, Windhoek. Mr Mbumba has since been sworn in as Mr Geingob's replacement and will serve in the role until elections due later this year. Paying tribute to his predecessor, he says the nation remains calm and stable owing to the leadership of President Geingob who was the chief architect of the constitution.
Namibia has a new president in the shape of Nangolo Mbumba just hours after, as vice-president, he had announced the death of his predecessor. Hage Geingob, 82, died early on Sunday while receiving medical treatment at a hospital in the capital, Windhoek. Mr Mbumba has since been sworn in as Mr Geingob's replacement and will serve in the role until elections due later this year. Paying tribute to his predecessor, he says the nation remains calm and stable owing to the leadership of President Geingob who was the chief architect of the constitution.
Namibia has a new president in the shape of Nangolo Mbumba just hours after, as vice-president, he had announced the death of his predecessor. Hage Geingob, 82, died early on Sunday while receiving medical treatment at a hospital in the capital, Windhoek. Mr Mbumba has since been sworn in as Mr Geingob's replacement and will serve in the role until elections due later this year. Paying tribute to his predecessor, he says the nation remains calm and stable owing to the leadership of President Geingob who was the chief architect of the constitution.
Namibia has a new president in the shape of Nangolo Mbumba just hours after, as vice-president, he had announced the death of his predecessor. Hage Geingob, 82, died early on Sunday while receiving medical treatment at a hospital in the capital, Windhoek. Mr Mbumba has since been sworn in as Mr Geingob's replacement and will serve in the role until elections due later this year. Paying tribute to his predecessor, he says the nation remains calm and stable owing to the leadership of President Geingob who was the chief architect of the constitution.
France says Senegal should end uncertainty created by President Macky Sall’s announcement that an election scheduled for February 25 would be postponed indefinitely calling for a vote as soon as possible. The intervention from Paris, the former colonial power in Senegal, came as opposition presidential candidates called for a Sunday afternoon demonstration in Dakar. Washington and West African bloc ECOWAS both expressed concern and called for a swift new vote following Sall’s Saturday announcement. The president says a conflict between the Constitutional Council and parliament over approvals of presidential candidacies had led to the suspension of the vote.
France says Senegal should end uncertainty created by President Macky Sall’s announcement that an election scheduled for February 25 would be postponed indefinitely calling for a vote as soon as possible. The intervention from Paris, the former colonial power in Senegal, came as opposition presidential candidates called for a Sunday afternoon demonstration in Dakar. Washington and West African bloc ECOWAS both expressed concern and called for a swift new vote following Sall’s Saturday announcement. The president says a conflict between the Constitutional Council and parliament over approvals of presidential candidacies had led to the suspension of the vote.
France says Senegal should end uncertainty created by President Macky Sall’s announcement that an election scheduled for February 25 would be postponed indefinitely calling for a vote as soon as possible. The intervention from Paris, the former colonial power in Senegal, came as opposition presidential candidates called for a Sunday afternoon demonstration in Dakar. Washington and West African bloc ECOWAS both expressed concern and called for a swift new vote following Sall’s Saturday announcement. The president says a conflict between the Constitutional Council and parliament over approvals of presidential candidacies had led to the suspension of the vote.
France says Senegal should end uncertainty created by President Macky Sall’s announcement that an election scheduled for February 25 would be postponed indefinitely calling for a vote as soon as possible. The intervention from Paris, the former colonial power in Senegal, came as opposition presidential candidates called for a Sunday afternoon demonstration in Dakar. Washington and West African bloc ECOWAS both expressed concern and called for a swift new vote following Sall’s Saturday announcement. The president says a conflict between the Constitutional Council and parliament over approvals of presidential candidacies had led to the suspension of the vote.
The Inspector General of Police, Olukayode Egbetokun has reactivated the Police Smartforce DataBase System as part of his digitalization drive for the Police Force. Force Public Relations Officer, Muyiwa Adejobi, says the main objective of the database is to tremendously enhance the competence and effective service delivery in all areas of policing, most especially in the smooth administrative management of the Nigeria Police Force as a whole. The IGP reiterated his vision for police driven by the integration of cutting-edge technology and Artificial Intelligence. He also ordered the immediate commencement of the digitalization process across all Commands and Formations of the Force for timeous upgrade and operation of the system and charged all officers to enrol for the process at their various command formations across the country.
The Inspector General of Police, Olukayode Egbetokun has reactivated the Police Smartforce DataBase System as part of his digitalization drive for the Police Force. Force Public Relations Officer, Muyiwa Adejobi, says the main objective of the database is to tremendously enhance the competence and effective service delivery in all areas of policing, most especially in the smooth administrative management of the Nigeria Police Force as a whole. The IGP reiterated his vision for police driven by the integration of cutting-edge technology and Artificial Intelligence. He also ordered the immediate commencement of the digitalization process across all Commands and Formations of the Force for timeous upgrade and operation of the system and charged all officers to enrol for the process at their various command formations across the country.
The Inspector General of Police, Olukayode Egbetokun has reactivated the Police Smartforce DataBase System as part of his digitalization drive for the Police Force. Force Public Relations Officer, Muyiwa Adejobi, says the main objective of the database is to tremendously enhance the competence and effective service delivery in all areas of policing, most especially in the smooth administrative management of the Nigeria Police Force as a whole. The IGP reiterated his vision for police driven by the integration of cutting-edge technology and Artificial Intelligence. He also ordered the immediate commencement of the digitalization process across all Commands and Formations of the Force for timeous upgrade and operation of the system and charged all officers to enrol for the process at their various command formations across the country.
The Inspector General of Police, Olukayode Egbetokun has reactivated the Police Smartforce DataBase System as part of his digitalization drive for the Police Force. Force Public Relations Officer, Muyiwa Adejobi, says the main objective of the database is to tremendously enhance the competence and effective service delivery in all areas of policing, most especially in the smooth administrative management of the Nigeria Police Force as a whole. The IGP reiterated his vision for police driven by the integration of cutting-edge technology and Artificial Intelligence. He also ordered the immediate commencement of the digitalization process across all Commands and Formations of the Force for timeous upgrade and operation of the system and charged all officers to enrol for the process at their various command formations across the country.
The central bank will no longer allow banks to carry out international money transfer operations. The bank also increased the application fees for International Money Transfer Operator (IMTO) approval to N10 million. The rules are a revision of earlier guidelines released in 2014. The new rules also set a minimum operating capital of $1 million for foreign IMTOs and its naira equivalent for their indigenous counterparts. Nigeria’s apex financial regulator had previously granted international money transfer licences to fintech companies including Flutterwave, LemFi, PagaTech, VFD, and Interswitch among others. The revised guidelines didn’t state whether the existing licences would be revoked.
The central bank will no longer allow banks to carry out international money transfer operations. The bank also increased the application fees for International Money Transfer Operator (IMTO) approval to N10 million. The rules are a revision of earlier guidelines released in 2014. The new rules also set a minimum operating capital of $1 million for foreign IMTOs and its naira equivalent for their indigenous counterparts. Nigeria’s apex financial regulator had previously granted international money transfer licences to fintech companies including Flutterwave, LemFi, PagaTech, VFD, and Interswitch among others. The revised guidelines didn’t state whether the existing licences would be revoked.
The central bank will no longer allow banks to carry out international money transfer operations. The bank also increased the application fees for International Money Transfer Operator (IMTO) approval to N10 million. The rules are a revision of earlier guidelines released in 2014. The new rules also set a minimum operating capital of $1 million for foreign IMTOs and its naira equivalent for their indigenous counterparts. Nigeria’s apex financial regulator had previously granted international money transfer licences to fintech companies including Flutterwave, LemFi, PagaTech, VFD, and Interswitch among others. The revised guidelines didn’t state whether the existing licences would be revoked.
The central bank will no longer allow banks to carry out international money transfer operations. The bank also increased the application fees for International Money Transfer Operator (IMTO) approval to N10 million. The rules are a revision of earlier guidelines released in 2014. The new rules also set a minimum operating capital of $1 million for foreign IMTOs and its naira equivalent for their indigenous counterparts. Nigeria’s apex financial regulator had previously granted international money transfer licences to fintech companies including Flutterwave, LemFi, PagaTech, VFD, and Interswitch among others. The revised guidelines didn’t state whether the existing licences would be revoked.
The US has approved plans for a series of strikes on Iranian targets in Syria and Iraq. The strikes will take place over a number of days and weather conditions will likely dictate when they are launched. It comes after a drone attack killed three US soldiers in Jordan, close to the Syrian border, on Sunday. The US blamed an Iranian-backed militia group for that attack. That group, the Islamic Resistance in Iraq, is believed to contain multiple militias that have been armed, funded and trained by Iran's Revolutionary Guards force. It has said it was responsible for Sunday's strike. Iran, meanwhile, has denied any role in the attack which injured 41 other US troops at the military base, known as Tower 22.
The US has approved plans for a series of strikes on Iranian targets in Syria and Iraq. The strikes will take place over a number of days and weather conditions will likely dictate when they are launched. It comes after a drone attack killed three US soldiers in Jordan, close to the Syrian border, on Sunday. The US blamed an Iranian-backed militia group for that attack. That group, the Islamic Resistance in Iraq, is believed to contain multiple militias that have been armed, funded and trained by Iran's Revolutionary Guards force. It has said it was responsible for Sunday's strike. Iran, meanwhile, has denied any role in the attack which injured 41 other US troops at the military base, known as Tower 22.
The US has approved plans for a series of strikes on Iranian targets in Syria and Iraq. The strikes will take place over a number of days and weather conditions will likely dictate when they are launched. It comes after a drone attack killed three US soldiers in Jordan, close to the Syrian border, on Sunday. The US blamed an Iranian-backed militia group for that attack. That group, the Islamic Resistance in Iraq, is believed to contain multiple militias that have been armed, funded and trained by Iran's Revolutionary Guards force. It has said it was responsible for Sunday's strike. Iran, meanwhile, has denied any role in the attack which injured 41 other US troops at the military base, known as Tower 22.
The US has approved plans for a series of strikes on Iranian targets in Syria and Iraq. The strikes will take place over a number of days and weather conditions will likely dictate when they are launched. It comes after a drone attack killed three US soldiers in Jordan, close to the Syrian border, on Sunday. The US blamed an Iranian-backed militia group for that attack. That group, the Islamic Resistance in Iraq, is believed to contain multiple militias that have been armed, funded and trained by Iran's Revolutionary Guards force. It has said it was responsible for Sunday's strike. Iran, meanwhile, has denied any role in the attack which injured 41 other US troops at the military base, known as Tower 22.
The United States Treasury imposed sanctions on three Sudanese companies they say are funding the devastating war in the country. Those sanctioned include Alkhaleej Bank and Al-Fakher Advanced Works, controlled by the paramilitary Rapid Support Forces (RSF). The third company, Zadna International, is linked to the Sudanese army. The statement says all three entities have undermined the peace, security, and stability of Sudan by either laundering money or raising funds from gold exports. The sanctions are part of measures aimed at stemming the nine-month war.
The United States Treasury imposed sanctions on three Sudanese companies they say are funding the devastating war in the country. Those sanctioned include Alkhaleej Bank and Al-Fakher Advanced Works, controlled by the paramilitary Rapid Support Forces (RSF). The third company, Zadna International, is linked to the Sudanese army. The statement says all three entities have undermined the peace, security, and stability of Sudan by either laundering money or raising funds from gold exports. The sanctions are part of measures aimed at stemming the nine-month war.
The United States Treasury imposed sanctions on three Sudanese companies they say are funding the devastating war in the country. Those sanctioned include Alkhaleej Bank and Al-Fakher Advanced Works, controlled by the paramilitary Rapid Support Forces (RSF). The third company, Zadna International, is linked to the Sudanese army. The statement says all three entities have undermined the peace, security, and stability of Sudan by either laundering money or raising funds from gold exports. The sanctions are part of measures aimed at stemming the nine-month war.
The United States Treasury imposed sanctions on three Sudanese companies they say are funding the devastating war in the country. Those sanctioned include Alkhaleej Bank and Al-Fakher Advanced Works, controlled by the paramilitary Rapid Support Forces (RSF). The third company, Zadna International, is linked to the Sudanese army. The statement says all three entities have undermined the peace, security, and stability of Sudan by either laundering money or raising funds from gold exports. The sanctions are part of measures aimed at stemming the nine-month war.
The Federal Government says it had started exploring opportunities in green hydrogen as part of the drive for transition from fossil fuels to cleaner energy. The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, noted that the pursuit of sustainable energy solutions had necessitated an innovative mindset, making stakeholders explore the uncharted territories of green hydrogen production. Ekpo stated that the prospect for synergy between conventional and sustainable energy was vast, adding that the country must seize that opportunity to diversify its energy portfolio.
The Federal Government says it had started exploring opportunities in green hydrogen as part of the drive for transition from fossil fuels to cleaner energy. The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, noted that the pursuit of sustainable energy solutions had necessitated an innovative mindset, making stakeholders explore the uncharted territories of green hydrogen production. Ekpo stated that the prospect for synergy between conventional and sustainable energy was vast, adding that the country must seize that opportunity to diversify its energy portfolio.
The Federal Government says it had started exploring opportunities in green hydrogen as part of the drive for transition from fossil fuels to cleaner energy. The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, noted that the pursuit of sustainable energy solutions had necessitated an innovative mindset, making stakeholders explore the uncharted territories of green hydrogen production. Ekpo stated that the prospect for synergy between conventional and sustainable energy was vast, adding that the country must seize that opportunity to diversify its energy portfolio.
The Federal Government says it had started exploring opportunities in green hydrogen as part of the drive for transition from fossil fuels to cleaner energy. The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, noted that the pursuit of sustainable energy solutions had necessitated an innovative mindset, making stakeholders explore the uncharted territories of green hydrogen production. Ekpo stated that the prospect for synergy between conventional and sustainable energy was vast, adding that the country must seize that opportunity to diversify its energy portfolio.
Managing Director Kristalina Georgieva says the IMF sees a greater risk to the global economy if central banks start cutting interest rates too soon than if they move slightly too late The US Federal Reserve, the European Central Bank and others have held interest rates elevated in recent months in an attempt to bring inflation back down toward target, following a post-pandemic surge in prices. Georgieva says the IMF team has looked back in history, and the conclusion they drew is that the risk of premature easing is higher than the risk of being slightly behind. Georgieva says that the United States was close to achieving a so-called soft landing, when policymakers bring inflation back to target without triggering a recession.
Managing Director Kristalina Georgieva says the IMF sees a greater risk to the global economy if central banks start cutting interest rates too soon than if they move slightly too late The US Federal Reserve, the European Central Bank and others have held interest rates elevated in recent months in an attempt to bring inflation back down toward target, following a post-pandemic surge in prices. Georgieva says the IMF team has looked back in history, and the conclusion they drew is that the risk of premature easing is higher than the risk of being slightly behind. Georgieva says that the United States was close to achieving a so-called soft landing, when policymakers bring inflation back to target without triggering a recession.
Managing Director Kristalina Georgieva says the IMF sees a greater risk to the global economy if central banks start cutting interest rates too soon than if they move slightly too late The US Federal Reserve, the European Central Bank and others have held interest rates elevated in recent months in an attempt to bring inflation back down toward target, following a post-pandemic surge in prices. Georgieva says the IMF team has looked back in history, and the conclusion they drew is that the risk of premature easing is higher than the risk of being slightly behind. Georgieva says that the United States was close to achieving a so-called soft landing, when policymakers bring inflation back to target without triggering a recession.
Managing Director Kristalina Georgieva says the IMF sees a greater risk to the global economy if central banks start cutting interest rates too soon than if they move slightly too late The US Federal Reserve, the European Central Bank and others have held interest rates elevated in recent months in an attempt to bring inflation back down toward target, following a post-pandemic surge in prices. Georgieva says the IMF team has looked back in history, and the conclusion they drew is that the risk of premature easing is higher than the risk of being slightly behind. Georgieva says that the United States was close to achieving a so-called soft landing, when policymakers bring inflation back to target without triggering a recession.
The Central Bank of Nigeria has ordered Deposit Money Banks to sell their excess dollar stock latest February 1, 2024, as part of moves to stabilise the nation’s volatile exchange rate. The apex bank also warned lenders against hoarding excess foreign currencies for profit. The Central Bank of Nigeria has noted with concern the growth in foreign currency exposures of banks through their Net Open Position. CBN says this has created an incentive for banks to hold excess long foreign currency positions, which exposes banks to foreign exchange and other risks. The apex bank says this calculation must be done using the Gross Aggregate Method, which provides a comprehensive view of the bank’s foreign currency exposure.
The Central Bank of Nigeria has ordered Deposit Money Banks to sell their excess dollar stock latest February 1, 2024, as part of moves to stabilise the nation’s volatile exchange rate. The apex bank also warned lenders against hoarding excess foreign currencies for profit. The Central Bank of Nigeria has noted with concern the growth in foreign currency exposures of banks through their Net Open Position. CBN says this has created an incentive for banks to hold excess long foreign currency positions, which exposes banks to foreign exchange and other risks. The apex bank says this calculation must be done using the Gross Aggregate Method, which provides a comprehensive view of the bank’s foreign currency exposure.
French broadcast company Canal+ has made an offer to purchase South Africa's MultiChoice, Africa's largest provider of subscription TV services, which include DStv. Canal+ is already a majority shareholder in MultiChoice and has a 30% stake. The company is proposing to buy the remaining shares for 31.7 billion rand ($1.6bn) Canal+ says that its acquisition of the South African company promises to turn around its fortunes by creating "a group with significant scale, putting MultiChoice on a secure long-term path and enabling the company to thrive.
French broadcast company Canal+ has made an offer to purchase South Africa's MultiChoice, Africa's largest provider of subscription TV services, which include DStv. Canal+ is already a majority shareholder in MultiChoice and has a 30% stake. The company is proposing to buy the remaining shares for 31.7 billion rand ($1.6bn) Canal+ says that its acquisition of the South African company promises to turn around its fortunes by creating "a group with significant scale, putting MultiChoice on a secure long-term path and enabling the company to thrive.
French broadcast company Canal+ has made an offer to purchase South Africa's MultiChoice, Africa's largest provider of subscription TV services, which include DStv. Canal+ is already a majority shareholder in MultiChoice and has a 30% stake. The company is proposing to buy the remaining shares for 31.7 billion rand ($1.6bn) Canal+ says that its acquisition of the South African company promises to turn around its fortunes by creating "a group with significant scale, putting MultiChoice on a secure long-term path and enabling the company to thrive.
French broadcast company Canal+ has made an offer to purchase South Africa's MultiChoice, Africa's largest provider of subscription TV services, which include DStv. Canal+ is already a majority shareholder in MultiChoice and has a 30% stake. The company is proposing to buy the remaining shares for 31.7 billion rand ($1.6bn) Canal+ says that its acquisition of the South African company promises to turn around its fortunes by creating "a group with significant scale, putting MultiChoice on a secure long-term path and enabling the company to thrive.
Burkina Faso, Mali, and Niger Republic are set to be cut off from the $702bn strong Economic Community of West African States economy following their planned exits. This potential exit could further worsen widespread food insecurity in the region as well as backfire on already fragile economies. A report from Bloomberg highlighted that the trio of countries are all landlocked and among the poorest in the region, with their annual per-capita gross domestic product of less than $1,000. It stated that exiting the ECOWAS region would expose them to increased tariffs and restrictions on the movement of goods and financial flows.
Burkina Faso, Mali, and Niger Republic are set to be cut off from the $702bn strong Economic Community of West African States economy following their planned exits. This potential exit could further worsen widespread food insecurity in the region as well as backfire on already fragile economies. A report from Bloomberg highlighted that the trio of countries are all landlocked and among the poorest in the region, with their annual per-capita gross domestic product of less than $1,000. It stated that exiting the ECOWAS region would expose them to increased tariffs and restrictions on the movement of goods and financial flows.
Burkina Faso, Mali, and Niger Republic are set to be cut off from the $702bn strong Economic Community of West African States economy following their planned exits. This potential exit could further worsen widespread food insecurity in the region as well as backfire on already fragile economies. A report from Bloomberg highlighted that the trio of countries are all landlocked and among the poorest in the region, with their annual per-capita gross domestic product of less than $1,000. It stated that exiting the ECOWAS region would expose them to increased tariffs and restrictions on the movement of goods and financial flows.
Burkina Faso, Mali, and Niger Republic are set to be cut off from the $702bn strong Economic Community of West African States economy following their planned exits. This potential exit could further worsen widespread food insecurity in the region as well as backfire on already fragile economies. A report from Bloomberg highlighted that the trio of countries are all landlocked and among the poorest in the region, with their annual per-capita gross domestic product of less than $1,000. It stated that exiting the ECOWAS region would expose them to increased tariffs and restrictions on the movement of goods and financial flows.
The Central Bank of Nigeria has ordered Deposit Money Banks to sell their excess dollar stock latest February 1, 2024, as part of moves to stabilise the nation’s volatile exchange rate. The apex bank also warned lenders against hoarding excess foreign currencies for profit. The Central Bank of Nigeria has noted with concern the growth in foreign currency exposures of banks through their Net Open Position. CBN says this has created an incentive for banks to hold excess long foreign currency positions, which exposes banks to foreign exchange and other risks. The apex bank says this calculation must be done using the Gross Aggregate Method, which provides a comprehensive view of the bank’s foreign currency exposure.
The Central Bank of Nigeria has ordered Deposit Money Banks to sell their excess dollar stock latest February 1, 2024, as part of moves to stabilise the nation’s volatile exchange rate. The apex bank also warned lenders against hoarding excess foreign currencies for profit. The Central Bank of Nigeria has noted with concern the growth in foreign currency exposures of banks through their Net Open Position. CBN says this has created an incentive for banks to hold excess long foreign currency positions, which exposes banks to foreign exchange and other risks. The apex bank says this calculation must be done using the Gross Aggregate Method, which provides a comprehensive view of the bank’s foreign currency exposure.
The United States has approved the sale of F-16 fighter jets to Turkey after the Turkish parliament this week ratified Sweden’s NATO membership. The US Department of State notified Congress of the $23bn agreement to sell the warplanes to NATO ally Turkey along with a companion $8.6bn sale of advanced F-35 fighter jets to Greece, also an ally in the Western military bloc. The department’s notification came hours after Turkey deposited its instrument of ratification for Sweden’s accession to NATO with Washington, which is the repository for alliance documents and after several key members of Congress lifted their objections.
The United States has approved the sale of F-16 fighter jets to Turkey after the Turkish parliament this week ratified Sweden’s NATO membership. The US Department of State notified Congress of the $23bn agreement to sell the warplanes to NATO ally Turkey along with a companion $8.6bn sale of advanced F-35 fighter jets to Greece, also an ally in the Western military bloc. The department’s notification came hours after Turkey deposited its instrument of ratification for Sweden’s accession to NATO with Washington, which is the repository for alliance documents and after several key members of Congress lifted their objections.
The United States has approved the sale of F-16 fighter jets to Turkey after the Turkish parliament this week ratified Sweden’s NATO membership. The US Department of State notified Congress of the $23bn agreement to sell the warplanes to NATO ally Turkey along with a companion $8.6bn sale of advanced F-35 fighter jets to Greece, also an ally in the Western military bloc. The department’s notification came hours after Turkey deposited its instrument of ratification for Sweden’s accession to NATO with Washington, which is the repository for alliance documents and after several key members of Congress lifted their objections.
The United States has approved the sale of F-16 fighter jets to Turkey after the Turkish parliament this week ratified Sweden’s NATO membership. The US Department of State notified Congress of the $23bn agreement to sell the warplanes to NATO ally Turkey along with a companion $8.6bn sale of advanced F-35 fighter jets to Greece, also an ally in the Western military bloc. The department’s notification came hours after Turkey deposited its instrument of ratification for Sweden’s accession to NATO with Washington, which is the repository for alliance documents and after several key members of Congress lifted their objections.
China has tightened its financial industry rules as the government tries to halt a deepening sell-off in the world's second-largest economy. Nearly $6tn has been wiped off Chinese and Hong Kong stocks since their most recent peak three years ago. The China Securities Regulatory Commission says the measures will create a fairer market order. Under the new rules limits will be put on so-called short-selling from Monday. The CSRC says that following a complete suspension of the lending of restricted stocks which takes effect further limitations on securities lending will be introduced from 18 March.
China has tightened its financial industry rules as the government tries to halt a deepening sell-off in the world's second-largest economy. Nearly $6tn has been wiped off Chinese and Hong Kong stocks since their most recent peak three years ago. The China Securities Regulatory Commission says the measures will create a fairer market order. Under the new rules limits will be put on so-called short-selling from Monday. The CSRC says that following a complete suspension of the lending of restricted stocks which takes effect further limitations on securities lending will be introduced from 18 March.
China has tightened its financial industry rules as the government tries to halt a deepening sell-off in the world's second-largest economy. Nearly $6tn has been wiped off Chinese and Hong Kong stocks since their most recent peak three years ago. The China Securities Regulatory Commission says the measures will create a fairer market order. Under the new rules limits will be put on so-called short-selling from Monday. The CSRC says that following a complete suspension of the lending of restricted stocks which takes effect further limitations on securities lending will be introduced from 18 March.
China has tightened its financial industry rules as the government tries to halt a deepening sell-off in the world's second-largest economy. Nearly $6tn has been wiped off Chinese and Hong Kong stocks since their most recent peak three years ago. The China Securities Regulatory Commission says the measures will create a fairer market order. Under the new rules limits will be put on so-called short-selling from Monday. The CSRC says that following a complete suspension of the lending of restricted stocks which takes effect further limitations on securities lending will be introduced from 18 March.
Debt-laden Chinese property giant Evergrande has been ordered to liquidate by a court in Hong Kong. Judge Linda Chan says enough is enough after the troubled developer repeatedly failed to come up with a plan to restructure its debts. The firm has been the poster child of China's real estate crisis with more than $300bn of debt. Evergrande's executive director, Shawn Siu, described the decision as regrettable but said the company would continue to operate in mainland China. He says the firm's Hong Kong arm was independent from its mainland business.
Debt-laden Chinese property giant Evergrande has been ordered to liquidate by a court in Hong Kong. Judge Linda Chan says enough is enough after the troubled developer repeatedly failed to come up with a plan to restructure its debts. The firm has been the poster child of China's real estate crisis with more than $300bn of debt. Evergrande's executive director, Shawn Siu, described the decision as regrettable but said the company would continue to operate in mainland China. He says the firm's Hong Kong arm was independent from its mainland business.
Debt-laden Chinese property giant Evergrande has been ordered to liquidate by a court in Hong Kong. Judge Linda Chan says enough is enough after the troubled developer repeatedly failed to come up with a plan to restructure its debts. The firm has been the poster child of China's real estate crisis with more than $300bn of debt. Evergrande's executive director, Shawn Siu, described the decision as regrettable but said the company would continue to operate in mainland China. He says the firm's Hong Kong arm was independent from its mainland business.
Debt-laden Chinese property giant Evergrande has been ordered to liquidate by a court in Hong Kong. Judge Linda Chan says enough is enough after the troubled developer repeatedly failed to come up with a plan to restructure its debts. The firm has been the poster child of China's real estate crisis with more than $300bn of debt. Evergrande's executive director, Shawn Siu, described the decision as regrettable but said the company would continue to operate in mainland China. He says the firm's Hong Kong arm was independent from its mainland business.
Several African leaders are in Italy's capital, Rome, for the Italy-Africa summit, which is aimed at boosting relations between Africa and the European nation. Italian Prime Minister Giorgia Meloni says during the summit Italy is expected to launch a new approach for cooperating with African countries, which is not predatory, not paternalistic, but not charitable either. The targeted areas for collaboration include energy, economic and infrastructure development, culture, food security education and vocational training. Several other countries have organised similar summits to strengthen ties with African countries, including Germany, Russia and China.
Several African leaders are in Italy's capital, Rome, for the Italy-Africa summit, which is aimed at boosting relations between Africa and the European nation. Italian Prime Minister Giorgia Meloni says during the summit Italy is expected to launch a new approach for cooperating with African countries, which is not predatory, not paternalistic, but not charitable either. The targeted areas for collaboration include energy, economic and infrastructure development, culture, food security education and vocational training. Several other countries have organised similar summits to strengthen ties with African countries, including Germany, Russia and China.
Several African leaders are in Italy's capital, Rome, for the Italy-Africa summit, which is aimed at boosting relations between Africa and the European nation. Italian Prime Minister Giorgia Meloni says during the summit Italy is expected to launch a new approach for cooperating with African countries, which is not predatory, not paternalistic, but not charitable either. The targeted areas for collaboration include energy, economic and infrastructure development, culture, food security education and vocational training. Several other countries have organised similar summits to strengthen ties with African countries, including Germany, Russia and China.
Several African leaders are in Italy's capital, Rome, for the Italy-Africa summit, which is aimed at boosting relations between Africa and the European nation. Italian Prime Minister Giorgia Meloni says during the summit Italy is expected to launch a new approach for cooperating with African countries, which is not predatory, not paternalistic, but not charitable either. The targeted areas for collaboration include energy, economic and infrastructure development, culture, food security education and vocational training. Several other countries have organised similar summits to strengthen ties with African countries, including Germany, Russia and China.
The military regimes in Burkina Faso, Mali and Niger announced their immediate withdrawal from the West African bloc ECOWAS, saying it has become a threat to member states. The leaders of the three Sahel nations issued a statement saying it was a sovereign decision to leave the Economic Community of West African States without delay. All three were suspended from ECOWAS with Niger and Mali facing heavy sanctions as the bloc tried to push for the early return of civilian governments with elections. The three nations have hardened their positions in recent months and joined forces in an Alliance of Sahel States.
The military regimes in Burkina Faso, Mali and Niger announced their immediate withdrawal from the West African bloc ECOWAS, saying it has become a threat to member states. The leaders of the three Sahel nations issued a statement saying it was a sovereign decision to leave the Economic Community of West African States without delay. All three were suspended from ECOWAS with Niger and Mali facing heavy sanctions as the bloc tried to push for the early return of civilian governments with elections. The three nations have hardened their positions in recent months and joined forces in an Alliance of Sahel States.
The military regimes in Burkina Faso, Mali and Niger announced their immediate withdrawal from the West African bloc ECOWAS, saying it has become a threat to member states. The leaders of the three Sahel nations issued a statement saying it was a sovereign decision to leave the Economic Community of West African States without delay. All three were suspended from ECOWAS with Niger and Mali facing heavy sanctions as the bloc tried to push for the early return of civilian governments with elections. The three nations have hardened their positions in recent months and joined forces in an Alliance of Sahel States.
The military regimes in Burkina Faso, Mali and Niger announced their immediate withdrawal from the West African bloc ECOWAS, saying it has become a threat to member states. The leaders of the three Sahel nations issued a statement saying it was a sovereign decision to leave the Economic Community of West African States without delay. All three were suspended from ECOWAS with Niger and Mali facing heavy sanctions as the bloc tried to push for the early return of civilian governments with elections. The three nations have hardened their positions in recent months and joined forces in an Alliance of Sahel States.
The Chief Financial Officer, of NNPCL, Umar Ajiya, says the Nigerian National Petroleum Company Limited remitted literally zero funds to the Federation Account in 2022 due to the payment of subsidy on petrol. Ajiya says fuel subsidy stopped the revenue-generating firm from remitting taxes and royalties to the Federation Account, as well as halted the company from making a profit. The NNPCL stated that this enabled the oil firm to grow its profit from N674.1bn in 2021 to N2.54tn by the third quarter of 2022.
The Chief Financial Officer, of NNPCL, Umar Ajiya, says the Nigerian National Petroleum Company Limited remitted literally zero funds to the Federation Account in 2022 due to the payment of subsidy on petrol. Ajiya says fuel subsidy stopped the revenue-generating firm from remitting taxes and royalties to the Federation Account, as well as halted the company from making a profit. The NNPCL stated that this enabled the oil firm to grow its profit from N674.1bn in 2021 to N2.54tn by the third quarter of 2022.
The Chief Financial Officer, of NNPCL, Umar Ajiya, says the Nigerian National Petroleum Company Limited remitted literally zero funds to the Federation Account in 2022 due to the payment of subsidy on petrol. Ajiya says fuel subsidy stopped the revenue-generating firm from remitting taxes and royalties to the Federation Account, as well as halted the company from making a profit. The NNPCL stated that this enabled the oil firm to grow its profit from N674.1bn in 2021 to N2.54tn by the third quarter of 2022.
The Chief Financial Officer, of NNPCL, Umar Ajiya, says the Nigerian National Petroleum Company Limited remitted literally zero funds to the Federation Account in 2022 due to the payment of subsidy on petrol. Ajiya says fuel subsidy stopped the revenue-generating firm from remitting taxes and royalties to the Federation Account, as well as halted the company from making a profit. The NNPCL stated that this enabled the oil firm to grow its profit from N674.1bn in 2021 to N2.54tn by the third quarter of 2022.
The Circular Exchange 2023 Event, themed "Reflect, Learn, and Build," is set to be held 1st of February 2024 at Four Points by Sheraton, Lagos and will feature a series of engaging discussions, interactive workshops, and networking opportunities. The Exchange event will gather thought leaders, experts, and stakeholders to address the critical issue of circular procurement in Nigeria. The Circular Exchange is an annual event focused on building opportunities for circular business and investment in Lagos. The Circular Exchange Event is open to participants from government bodies, corporate organisations, businesses, non-governmental organisations, academia, and individuals interested in driving positive change.
The Circular Exchange 2023 Event, themed "Reflect, Learn, and Build," is set to be held 1st of February 2024 at Four Points by Sheraton, Lagos and will feature a series of engaging discussions, interactive workshops, and networking opportunities. The Exchange event will gather thought leaders, experts, and stakeholders to address the critical issue of circular procurement in Nigeria. The Circular Exchange is an annual event focused on building opportunities for circular business and investment in Lagos. The Circular Exchange Event is open to participants from government bodies, corporate organisations, businesses, non-governmental organisations, academia, and individuals interested in driving positive change.
The Circular Exchange 2023 Event, themed "Reflect, Learn, and Build," is set to be held 1st of February 2024 at Four Points by Sheraton, Lagos and will feature a series of engaging discussions, interactive workshops, and networking opportunities. The Exchange event will gather thought leaders, experts, and stakeholders to address the critical issue of circular procurement in Nigeria. The Circular Exchange is an annual event focused on building opportunities for circular business and investment in Lagos. The Circular Exchange Event is open to participants from government bodies, corporate organisations, businesses, non-governmental organisations, academia, and individuals interested in driving positive change.
The Circular Exchange 2023 Event, themed "Reflect, Learn, and Build," is set to be held 1st of February 2024 at Four Points by Sheraton, Lagos and will feature a series of engaging discussions, interactive workshops, and networking opportunities. The Exchange event will gather thought leaders, experts, and stakeholders to address the critical issue of circular procurement in Nigeria. The Circular Exchange is an annual event focused on building opportunities for circular business and investment in Lagos. The Circular Exchange Event is open to participants from government bodies, corporate organisations, businesses, non-governmental organisations, academia, and individuals interested in driving positive change.
The Federal Government is set to inaugurate a 37-man Tripartite Committee on National Minimum Wage with a mandate to recommend a new National Minimum Wage for the Country. The Secretary to the Government of the Federation. Segun Imohiosen, says the planned inauguration of the Committee is sequel to the approval of President Bola Tinubu.
The Federal Government is set to inaugurate a 37-man Tripartite Committee on National Minimum Wage with a mandate to recommend a new National Minimum Wage for the Country. The Secretary to the Government of the Federation. Segun Imohiosen, says the planned inauguration of the Committee is sequel to the approval of President Bola Tinubu.
The Federal Government is set to inaugurate a 37-man Tripartite Committee on National Minimum Wage with a mandate to recommend a new National Minimum Wage for the Country. The Secretary to the Government of the Federation. Segun Imohiosen, says the planned inauguration of the Committee is sequel to the approval of President Bola Tinubu.
The Federal Government is set to inaugurate a 37-man Tripartite Committee on National Minimum Wage with a mandate to recommend a new National Minimum Wage for the Country. The Secretary to the Government of the Federation. Segun Imohiosen, says the planned inauguration of the Committee is sequel to the approval of President Bola Tinubu.
The Federal Government says the relocation of the headquarters of the Federal Airports Authority of Nigeria, and some departments of the Central Bank of Nigeria to Lagos will increase operational efficiency and reduce operating costs. The Minister of Information and National Orientation, Mohammed Idris, dismissed claims that the relocation of some departments in the two agencies are political move to marginalise a section of the country. Senator Ali Ndume says It is not true that the relocation to Lagos of the Headquarters of the Federal Airports Authority of Nigeria, and of certain departments of the Central Bank of Nigeria are political moves aimed at marginalizing a section of the country.
The Federal Government says the relocation of the headquarters of the Federal Airports Authority of Nigeria, and some departments of the Central Bank of Nigeria to Lagos will increase operational efficiency and reduce operating costs. The Minister of Information and National Orientation, Mohammed Idris, dismissed claims that the relocation of some departments in the two agencies are political move to marginalise a section of the country. Senator Ali Ndume says It is not true that the relocation to Lagos of the Headquarters of the Federal Airports Authority of Nigeria, and of certain departments of the Central Bank of Nigeria are political moves aimed at marginalizing a section of the country.
The Federal Government says the relocation of the headquarters of the Federal Airports Authority of Nigeria, and some departments of the Central Bank of Nigeria to Lagos will increase operational efficiency and reduce operating costs. The Minister of Information and National Orientation, Mohammed Idris, dismissed claims that the relocation of some departments in the two agencies are political move to marginalise a section of the country. Senator Ali Ndume says It is not true that the relocation to Lagos of the Headquarters of the Federal Airports Authority of Nigeria, and of certain departments of the Central Bank of Nigeria are political moves aimed at marginalizing a section of the country.
The Federal Government says the relocation of the headquarters of the Federal Airports Authority of Nigeria, and some departments of the Central Bank of Nigeria to Lagos will increase operational efficiency and reduce operating costs. The Minister of Information and National Orientation, Mohammed Idris, dismissed claims that the relocation of some departments in the two agencies are political move to marginalise a section of the country. Senator Ali Ndume says It is not true that the relocation to Lagos of the Headquarters of the Federal Airports Authority of Nigeria, and of certain departments of the Central Bank of Nigeria are political moves aimed at marginalizing a section of the country.
Turkey’s parliament has approved Sweden’s NATO membership bid after more than four hours of debates.
The legislators ratified Sweden’s accession protocol by 287 votes to 55, with four abstentions on Tuesday.
President Recep Tayyip Erdogan is expected to sign the bill into law in the coming days, ending the 20-month-long delay that has frustrated some of Ankara’s Western allies.
Swedish Prime Minister Ulf Kristersson says after the vote that Stockholm was one step closer to joining the alliance.
Turkey’s parliament has approved Sweden’s NATO membership bid after more than four hours of debates.
The legislators ratified Sweden’s accession protocol by 287 votes to 55, with four abstentions on Tuesday.
President Recep Tayyip Erdogan is expected to sign the bill into law in the coming days, ending the 20-month-long delay that has frustrated some of Ankara’s Western allies.
Swedish Prime Minister Ulf Kristersson says after the vote that Stockholm was one step closer to joining the alliance.
Somali President Hassan Sheikh Mohamud has warned Ethiopia against taking steps to implement a controversial port deal it brokered with the breakaway region of Somaliland.
Under a memorandum of understanding signed on January 1, Somaliland leased landlocked Ethiopia 20km of its coastland around the port of Berbera, on the Gulf of Aden, for 50 years for military and commercial purposes.
Mohamud says Ethiopian assets would have to cross into Somalia’s territory to reach the leased area and warned Addis Ababa against taking such a step.
Egypt, which is involved in a separate dispute with Ethiopia over a major dam on the Blue Nile, has vowed to stand with Mogadishu in the Somaliland dispute.
Somali President Hassan Sheikh Mohamud has warned Ethiopia against taking steps to implement a controversial port deal it brokered with the breakaway region of Somaliland.
Under a memorandum of understanding signed on January 1, Somaliland leased landlocked Ethiopia 20km of its coastland around the port of Berbera, on the Gulf of Aden, for 50 years for military and commercial purposes.
Mohamud says Ethiopian assets would have to cross into Somalia’s territory to reach the leased area and warned Addis Ababa against taking such a step.
Egypt, which is involved in a separate dispute with Ethiopia over a major dam on the Blue Nile, has vowed to stand with Mogadishu in the Somaliland dispute.
The European Union has imposed sanctions, including asset freezes, on six firms it says are responsible for arming and financing the rival warring factions in Sudan.
Among the companies targeted are two involved in the manufacture of weapons and vehicles for the Sudanese armed forces and three involved in procuring military equipment for the paramilitary Rapid Support Forces.
Both sides have been accused of war crimes during the conflict, which erupted last April, and has left thousands dead and millions of people displaced.
The EU says it remained deeply concerned about the humanitarian situation in Sudan and reaffirmed its support for the Sudanese people.
The European Union has imposed sanctions, including asset freezes, on six firms it says are responsible for arming and financing the rival warring factions in Sudan.
Among the companies targeted are two involved in the manufacture of weapons and vehicles for the Sudanese armed forces and three involved in procuring military equipment for the paramilitary Rapid Support Forces.
Both sides have been accused of war crimes during the conflict, which erupted last April, and has left thousands dead and millions of people displaced.
The EU says it remained deeply concerned about the humanitarian situation in Sudan and reaffirmed its support for the Sudanese people.
United States Secretary of State Antony Blinken says the US would provide an additional $45m to West African nations as part of a plan to battle instability, bringing total funding under the year-old programme to nearly $300m.
The trip was to discuss US-African partnerships over trade, climate, infrastructure, health, security and other issues. It follows a summit in Washington with African leaders in December 2022.
Blinken sought progress combatting coups and extremism in West Africa in talks with two key leaders, as he pointed to Ivory Coast as a model.
United States Secretary of State Antony Blinken says the US would provide an additional $45m to West African nations as part of a plan to battle instability, bringing total funding under the year-old programme to nearly $300m.
The trip was to discuss US-African partnerships over trade, climate, infrastructure, health, security and other issues. It follows a summit in Washington with African leaders in December 2022.
Blinken sought progress combatting coups and extremism in West Africa in talks with two key leaders, as he pointed to Ivory Coast as a model.
The Federal Government through the Bureau of Public Enterprises is currently carrying out transactions for the sale of five power plants under the National Integrated Power Projects at a cost of about $1.15bn.
The acting Director-General, BPE, Ignatius Ayewoh, confirmed that the transaction is ongoing, adding that “it is not concluded.
The Federal Government through the Bureau of Public Enterprises is currently carrying out transactions for the sale of five power plants under the National Integrated Power Projects at a cost of about $1.15bn.
The acting Director-General, BPE, Ignatius Ayewoh, confirmed that the transaction is ongoing, adding that “it is not concluded.
Justice Gladys Olotu of the Federal High Court Abuja has approved the creation of another association for Nigerian lawyers different from the existing Nigerian Bar Association.
Justice Olotu, ordered the Corporate Affairs Commission to register any of the three names suggested by the promoters of the new association.
The Proposed names are: ‘The Nigerian Law Society,’ ‘Nigerian Bar Society,’ ‘Nigerian Lawyers’ Society’ and ‘The Association of Legal Practitioners of Nigeria’.
Justice Olotu also faulted the refusal of the CAC to register any of the names when they were earlier presented to it by those behind the new body.
A group of lawyers, led by Lagos-based lawyer, Kunle Ogunba, had in December 2022, announced the creation of a new body known as the Law Society of Nigeria.
Justice Gladys Olotu of the Federal High Court Abuja has approved the creation of another association for Nigerian lawyers different from the existing Nigerian Bar Association.
Justice Olotu, ordered the Corporate Affairs Commission to register any of the three names suggested by the promoters of the new association.
The Proposed names are: ‘The Nigerian Law Society,’ ‘Nigerian Bar Society,’ ‘Nigerian Lawyers’ Society’ and ‘The Association of Legal Practitioners of Nigeria’.
Justice Olotu also faulted the refusal of the CAC to register any of the names when they were earlier presented to it by those behind the new body.
A group of lawyers, led by Lagos-based lawyer, Kunle Ogunba, had in December 2022, announced the creation of a new body known as the Law Society of Nigeria.
The Dangote Petroleum Refinery and Petrochemicals have registered three oil marketers’ associations for the distribution of diesel and aviation fuel.
The company listed the three distribution groups as boasting 75 per cent of the total market in Nigeria as the Depot and Petroleum Products Marketers Association of Nigeria, the Independent Petroleum Marketers Association of Nigeria, and the Major Oil Marketers Association of Nigeria.
The company says other marketers that have signified interest are also being considered.
The Dangote Petroleum Refinery and Petrochemicals have registered three oil marketers’ associations for the distribution of diesel and aviation fuel.
The company listed the three distribution groups as boasting 75 per cent of the total market in Nigeria as the Depot and Petroleum Products Marketers Association of Nigeria, the Independent Petroleum Marketers Association of Nigeria, and the Major Oil Marketers Association of Nigeria.
The company says other marketers that have signified interest are also being considered.
The US Secretary of State Anthony Blinken has assured of the country’s companies’ readiness to partner with and invest in the Nigerian economy.
Blinken says American entrepreneurs and companies are ready to partner and invest in Nigeria, particularly in the tech sector.
He says they have tech giants that have teamed up with Nigerian partners to help meet President Bola Tinubu’s one million digital jobs initiative.
Blinken added that American firms are also working to broaden internet access in the West African country.
The US Secretary of State Anthony Blinken has assured of the country’s companies’ readiness to partner with and invest in the Nigerian economy.
Blinken says American entrepreneurs and companies are ready to partner and invest in Nigeria, particularly in the tech sector.
He says they have tech giants that have teamed up with Nigerian partners to help meet President Bola Tinubu’s one million digital jobs initiative.
Blinken added that American firms are also working to broaden internet access in the West African country.
Israeli officials say taxes collected by Israel and bound for Gaza will be held in Norway, instead of being sent to the Palestinian Authority which exercises limited self-rule in the Israeli-occupied West Bank.
The Israeli prime minister says the frozen funds will not be transferred to the Palestinian Authority but will remain in the hands of a third country.
He says the money or its consideration will not be transferred under any circumstances, except with the approval of the Minister of Finance of Israel, not even through a third party.
Israeli officials say taxes collected by Israel and bound for Gaza will be held in Norway, instead of being sent to the Palestinian Authority which exercises limited self-rule in the Israeli-occupied West Bank.
The Israeli prime minister says the frozen funds will not be transferred to the Palestinian Authority but will remain in the hands of a third country.
He says the money or its consideration will not be transferred under any circumstances, except with the approval of the Minister of Finance of Israel, not even through a third party.
Israel’s Prime Minister Benjamin Netanyahu has rejected a proposal by Hamas to end the war and release captives in exchange for withdrawing Israeli forces, releasing prisoners and accepting the armed group’s governance of Gaza.
Netanyahu says that accepting Hamas’s conditions would mean leaving the armed group intact and that Israel’s soldiers had fallen in vain.
Netanyahu earlier repeated his opposition to an independent Palestinian state, insisting he would not compromise on full Israeli security control over the entire area in the west of Jordan.
Israel’s Prime Minister Benjamin Netanyahu has rejected a proposal by Hamas to end the war and release captives in exchange for withdrawing Israeli forces, releasing prisoners and accepting the armed group’s governance of Gaza.
Netanyahu says that accepting Hamas’s conditions would mean leaving the armed group intact and that Israel’s soldiers had fallen in vain.
Netanyahu earlier repeated his opposition to an independent Palestinian state, insisting he would not compromise on full Israeli security control over the entire area in the west of Jordan.
Florida Governor Ron DeSantis has dropped out of the 2024 presidential race and endorsed Donald Trump.
He quit ahead of the Republican primary election in New Hampshire, where he was polling in the single digits.
Mr DeSantis says his campaign had "left it all out on the field".
The Florida governor said he was endorsing Mr Trump, who is the clear frontrunner after winning the first contest in Iowa with 51% of the vote.
Mr DeSantis said it had become clear that a majority of Republican voters "want to give Donald Trump another chance.
Florida Governor Ron DeSantis has dropped out of the 2024 presidential race and endorsed Donald Trump.
He quit ahead of the Republican primary election in New Hampshire, where he was polling in the single digits.
Mr DeSantis says his campaign had "left it all out on the field".
The Florida governor said he was endorsing Mr Trump, who is the clear frontrunner after winning the first contest in Iowa with 51% of the vote.
Mr DeSantis said it had become clear that a majority of Republican voters "want to give Donald Trump another chance.
Cameroon is rolling out the world's first routine vaccine programme against malaria, in a global fight projected to save thousands of children's lives across Africa.
The World Health Organization (WHO)-approved RTS,S vaccine, developed by British drugmaker GSK, is targeting infants in Cameroon's 42 worst-affected districts.
The central African country will be the first country to administer doses through a routine immunisation programme, following successful pilot campaigns in Kenya, Ghana and Malawi.
The four-dose vaccine is only about 30% effective and protection begins to fade after several months.
GSK says it can only produce about 15 million doses a year.
Cameroon is rolling out the world's first routine vaccine programme against malaria, in a global fight projected to save thousands of children's lives across Africa.
The World Health Organization (WHO)-approved RTS,S vaccine, developed by British drugmaker GSK, is targeting infants in Cameroon's 42 worst-affected districts.
The central African country will be the first country to administer doses through a routine immunisation programme, following successful pilot campaigns in Kenya, Ghana and Malawi.
The four-dose vaccine is only about 30% effective and protection begins to fade after several months.
GSK says it can only produce about 15 million doses a year.
The World Bank estimates that improved access to Internet coverage over three years led to a seven per cent reduction in extreme poverty in Nigeria and Tanzania.
The bank says Internet access also led to an increase of eight per cent in labour force participation and wage employment.
The bank further highlighted that over the past five years, Sub-Saharan Africa experienced an extraordinary 115 per cent increase in Internet users, a change that has been instrumental in spurring economic growth, fostering innovation, and creating job opportunities.
The World Bank estimates that improved access to Internet coverage over three years led to a seven per cent reduction in extreme poverty in Nigeria and Tanzania.
The bank says Internet access also led to an increase of eight per cent in labour force participation and wage employment.
The bank further highlighted that over the past five years, Sub-Saharan Africa experienced an extraordinary 115 per cent increase in Internet users, a change that has been instrumental in spurring economic growth, fostering innovation, and creating job opportunities.
Nigeria's Lagos state says it'll immediately start implementing a ban on Styrofoam and other single-use plastics.
Lagos's environment commissioner Tokunbo Wahab says non-biodegradable plastics were a major pollution problem, and were clogging drains.
State officials say they'll use a dormant 2009 law to fine or jail culprits.
International experts estimate Nigeria generates 2.5 million tonnes of plastic waste annually.
Nigeria's Lagos state says it'll immediately start implementing a ban on Styrofoam and other single-use plastics.
Lagos's environment commissioner Tokunbo Wahab says non-biodegradable plastics were a major pollution problem, and were clogging drains.
State officials say they'll use a dormant 2009 law to fine or jail culprits.
International experts estimate Nigeria generates 2.5 million tonnes of plastic waste annually.
The Presidential Committee on Fiscal Policy and Tax Reforms says it is meeting with state governors to reach an agreement for states to suspend some low-revenue taxes.
The panel says the move would lead to the suspension of ‘nuisance taxes’ by states and local government authorities across the country.
The Chairman of the committee, Taiwo Oyedele, says the low-revenue taxes, which he described as nuisance taxes were not adding value to the state’s coffers.
The tax panel chairman lamented that most of the taxes especially those imposed on the transport of goods from the North to the South and vice versa were negatively affecting the poor.
The Presidential Committee on Fiscal Policy and Tax Reforms says it is meeting with state governors to reach an agreement for states to suspend some low-revenue taxes.
The panel says the move would lead to the suspension of ‘nuisance taxes’ by states and local government authorities across the country.
The Chairman of the committee, Taiwo Oyedele, says the low-revenue taxes, which he described as nuisance taxes were not adding value to the state’s coffers.
The tax panel chairman lamented that most of the taxes especially those imposed on the transport of goods from the North to the South and vice versa were negatively affecting the poor.
Nigeria’s Central Bank has scheduled its first-rate hike meeting for February 26-27, 2024. It will be the first-rate meeting since July 2023.
According to a calendar released by the bank, the CBN is proposing six rate meetings throughout 2024.
Monetary Policy Committee meetings, which set interest rates, is an instrument through which the CBN controls inflation.
Nigeria’s inflation has soared all through 2023 to a 27-year high. Yemi Cardoso has held out, failing to call any meeting since his appointment.
Adedayo Bakare, an investment analyst at Money Africa, believes raising interest still holds the key to curbing inflation.
Nigeria’s Central Bank has scheduled its first-rate hike meeting for February 26-27, 2024. It will be the first-rate meeting since July 2023.
According to a calendar released by the bank, the CBN is proposing six rate meetings throughout 2024.
Monetary Policy Committee meetings, which set interest rates, is an instrument through which the CBN controls inflation.
Nigeria’s inflation has soared all through 2023 to a 27-year high. Yemi Cardoso has held out, failing to call any meeting since his appointment.
Adedayo Bakare, an investment analyst at Money Africa, believes raising interest still holds the key to curbing inflation.
The Nigerian National Petroleum Company Limited, says it would prepay future royalties and taxes to the Federal Government from the $3.3bn financing deal it got from African Export-Import Bank last year.
NNPCL explained that the loan would be used by the oil company to support the Federal Government in stabilising Nigeria’s exchange rate.
The company also stated that it adopted a lower price benchmark for the $3.3bn crude-for-cash loan to reduce the risk of default and ensure financial stability.
The Nigerian National Petroleum Company Limited, says it would prepay future royalties and taxes to the Federal Government from the $3.3bn financing deal it got from African Export-Import Bank last year.
NNPCL explained that the loan would be used by the oil company to support the Federal Government in stabilising Nigeria’s exchange rate.
The company also stated that it adopted a lower price benchmark for the $3.3bn crude-for-cash loan to reduce the risk of default and ensure financial stability.
North Korea has scrapped several government bodies tasked with promoting reconciliation and reunification with South Korea as authoritarian leader Kim Jong Un warned that his secretive country does not seek to avoid war.
The Supreme People’s Assembly, Kim says unification with South Korea is no longer possible and called for a constitutional amendment to change the status of South Korea to a separate, hostile country.
The Supreme People’s Assembly says that three organisations handling inter-Korean reconciliation – the Committee for the Peaceful Reunification of the Country, the National Economic Cooperation Bureau and the (Mount Kumgang) International Tourism Administration – will shut.
The decision marks a further deterioration in relations between the Koreas following a series of recent missile tests by Pyongyang.
North Korea has scrapped several government bodies tasked with promoting reconciliation and reunification with South Korea as authoritarian leader Kim Jong Un warned that his secretive country does not seek to avoid war.
The Supreme People’s Assembly, Kim says unification with South Korea is no longer possible and called for a constitutional amendment to change the status of South Korea to a separate, hostile country.
The Supreme People’s Assembly says that three organisations handling inter-Korean reconciliation – the Committee for the Peaceful Reunification of the Country, the National Economic Cooperation Bureau and the (Mount Kumgang) International Tourism Administration – will shut.
The decision marks a further deterioration in relations between the Koreas following a series of recent missile tests by Pyongyang.
Two Tory Party deputy chairmen and a ministerial aide have resigned to rebel against Rishi Sunak's Rwanda bill.
Deputy chairs Lee Anderson and Brendan Clarke-Smith quit to join about 60 Tory MPs backing an amendment rebels said toughened the immigration legislation.
The legislation seeks to revive the government's plan to send some asylum seekers to Rwanda and deter people from crossing the Channel in small boats.
At least four Conservative MPs - including former ministers Robert Jenrick and Suella Braverman - have publicly said they are prepared to vote against the bill if it is not improved, with reports that more could join them.
Two Tory Party deputy chairmen and a ministerial aide have resigned to rebel against Rishi Sunak's Rwanda bill.
Deputy chairs Lee Anderson and Brendan Clarke-Smith quit to join about 60 Tory MPs backing an amendment rebels said toughened the immigration legislation.
The legislation seeks to revive the government's plan to send some asylum seekers to Rwanda and deter people from crossing the Channel in small boats.
At least four Conservative MPs - including former ministers Robert Jenrick and Suella Braverman - have publicly said they are prepared to vote against the bill if it is not improved, with reports that more could join them.
Niger's junta-appointed Prime Minister Ali Mahaman Lamine Zeine is in Russia's capital Moscow for talks aimed at deepening economic and military ties between the two countries.
He is accompanied by Defence Minister Salihou Mody as well as Niger's ministers of petroleum and trade.
Niger’s military junta, which is under tough sanctions from its West African neighbours, is seeking to diversify its partnerships.
The junta has made clear its intention to free itself of Western influence, beginning with the severing of military ties with France.
Niger's junta-appointed Prime Minister Ali Mahaman Lamine Zeine is in Russia's capital Moscow for talks aimed at deepening economic and military ties between the two countries.
He is accompanied by Defence Minister Salihou Mody as well as Niger's ministers of petroleum and trade.
Niger’s military junta, which is under tough sanctions from its West African neighbours, is seeking to diversify its partnerships.
The junta has made clear its intention to free itself of Western influence, beginning with the severing of military ties with France.
Sudan's government says it has suspended any involvement in peace talks mediated by the East African regional body, Igad.
It had been trying to get the army and the rival paramilitary Rapid Support Forces (RSF) to negotiate an end to the nine-month civil war.
The foreign ministry says it had suspended dealings with Igad after the regional group added Sudan to the agenda of a meeting and invited the RSF leader Mohamed Hamdan Dagalo to attend.
Sudan's government says it has suspended any involvement in peace talks mediated by the East African regional body, Igad.
It had been trying to get the army and the rival paramilitary Rapid Support Forces (RSF) to negotiate an end to the nine-month civil war.
The foreign ministry says it had suspended dealings with Igad after the regional group added Sudan to the agenda of a meeting and invited the RSF leader Mohamed Hamdan Dagalo to attend.
The National Assembly has raised the budgetary allocation to the Ministry of Works from N657.3bn in the proposed budget to N1.03tn.
This represents N373bn or 56.7 per cent increase from the initial figure in the appropriation bill. It also represents a 65.4 per cent increase from the amount approved in the 2023 budget.
The approved budget showed that the increase was due to the raising of its capital budget from N617.9bn to N987.3bn.
An analysis of the document also showed that several capital projects were introduced in the approved budget.
The National Assembly has raised the budgetary allocation to the Ministry of Works from N657.3bn in the proposed budget to N1.03tn.
This represents N373bn or 56.7 per cent increase from the initial figure in the appropriation bill. It also represents a 65.4 per cent increase from the amount approved in the 2023 budget.
The approved budget showed that the increase was due to the raising of its capital budget from N617.9bn to N987.3bn.
An analysis of the document also showed that several capital projects were introduced in the approved budget.
Access Bank, the flagship subsidiary of Access Holdings Plc, has entered into a transaction with the Ugandan-based Finance Trust Bank Limited and it’s shareholders for the acquisition of a majority equity stake in FTB.
The Company Secretary, Sunday Ekwochi, says the proposed acquisition is subject to regulatory approval.
The Holdco says that the transaction would see Access Bank acquire a majority stake from existing shareholders and inject capital to increase FTB’s capital base; “Both which are subject to regulatory approvals by the Central Bank of Nigeria and Bank of Uganda.
Access Bank, the flagship subsidiary of Access Holdings Plc, has entered into a transaction with the Ugandan-based Finance Trust Bank Limited and it’s shareholders for the acquisition of a majority equity stake in FTB.
The Company Secretary, Sunday Ekwochi, says the proposed acquisition is subject to regulatory approval.
The Holdco says that the transaction would see Access Bank acquire a majority stake from existing shareholders and inject capital to increase FTB’s capital base; “Both which are subject to regulatory approvals by the Central Bank of Nigeria and Bank of Uganda.
The Inspector General of Police, Kayode Egbetokun, launched a special team tagged the ‘Special Intervention Squad’ to reduce the spate of kidnappings in the Federal Capital Territory.
The police boss says the team comprised specially trained mobile police officers who are expected to provide rapid response to the security breaches in the FCT.
Egbetokun assured Nigerians that the newly launched Special Intervention Squad will be replicated in neighboring states to address the challenge of insecurity.
The Inspector General of Police, Kayode Egbetokun, launched a special team tagged the ‘Special Intervention Squad’ to reduce the spate of kidnappings in the Federal Capital Territory.
The police boss says the team comprised specially trained mobile police officers who are expected to provide rapid response to the security breaches in the FCT.
Egbetokun assured Nigerians that the newly launched Special Intervention Squad will be replicated in neighboring states to address the challenge of insecurity.
The Federal Government has ordered investigations into the explosion that rocked Ibadan Oyo State on Tuesday, claiming three lives and injuring 80 persons.
Minister of Solid Minerals, Dele Alake, says that officers from the ministry will work and collaborate with the Oyo State Government to know the actual cause.
He directed the ministry’s mine officers who are already on site in Ibadan to join ongoing investigations to find out the immediate and remote causes of the explosion.
The Federal Government has ordered investigations into the explosion that rocked Ibadan Oyo State on Tuesday, claiming three lives and injuring 80 persons.
Minister of Solid Minerals, Dele Alake, says that officers from the ministry will work and collaborate with the Oyo State Government to know the actual cause.
He directed the ministry’s mine officers who are already on site in Ibadan to join ongoing investigations to find out the immediate and remote causes of the explosion.
Chinese military bodies, state-run artificial intelligence research institutes and universities have over the past year purchased small batches of Nvidia semiconductors banned by the U.S. from export to China.
The sales by largely unknown Chinese suppliers highlight the difficulties Washington faces, despite its bans, in completely cutting off China's access to advanced U.S. chips that could fuel breakthroughs in AI and sophisticated computers for its military.
Buying or selling high-end U.S. chips is not illegal in China and the publicly available tender documents show dozens of Chinese entities have bought and taken receipt of Nvidia semiconductors since restrictions were imposed.
Chinese military bodies, state-run artificial intelligence research institutes and universities have over the past year purchased small batches of Nvidia semiconductors banned by the U.S. from export to China.
The sales by largely unknown Chinese suppliers highlight the difficulties Washington faces, despite its bans, in completely cutting off China's access to advanced U.S. chips that could fuel breakthroughs in AI and sophisticated computers for its military.
Buying or selling high-end U.S. chips is not illegal in China and the publicly available tender documents show dozens of Chinese entities have bought and taken receipt of Nvidia semiconductors since restrictions were imposed.
Nauru has severed diplomatic ties with Taiwan in favour of China, just days after Taiwanese voters elected a new president.
Nauru's government said it would no longer recognise Taiwan as a separate country but rather as an inalienable part of China's territory.
China has over the past years been poaching Taiwan's diplomatic allies.
Nauru's diplomatic switch leaves just 12 countries still keeping diplomatic ties with Taipei, including Guatemala, Paraguay and the Marshall Islands.
Nauru has severed diplomatic ties with Taiwan in favour of China, just days after Taiwanese voters elected a new president.
Nauru's government said it would no longer recognise Taiwan as a separate country but rather as an inalienable part of China's territory.
China has over the past years been poaching Taiwan's diplomatic allies.
Nauru's diplomatic switch leaves just 12 countries still keeping diplomatic ties with Taipei, including Guatemala, Paraguay and the Marshall Islands.
A new analysis by the International Monetary Fund says Artificial intelligence is set to affect nearly 40% of all jobs.
IMF's managing director Kristalina Georgieva says in most scenarios, AI will likely worsen overall inequality.
Ms Georgieva adds that policymakers should address the troubling trend to prevent the technology from further stoking social tensions.
The IMF says AI is likely to affect a greater proportion of jobs - put at around 60% - in advanced economies. In half of these instances, workers can expect to benefit from the integration of AI, which will enhance their productivity.
A new analysis by the International Monetary Fund says Artificial intelligence is set to affect nearly 40% of all jobs.
IMF's managing director Kristalina Georgieva says in most scenarios, AI will likely worsen overall inequality.
Ms Georgieva adds that policymakers should address the troubling trend to prevent the technology from further stoking social tensions.
The IMF says AI is likely to affect a greater proportion of jobs - put at around 60% - in advanced economies. In half of these instances, workers can expect to benefit from the integration of AI, which will enhance their productivity.
The United Nations peacekeeping mission in the Democratic Republic of the Congo, which has helped in the fight against rebels for more than two decades, will completely withdraw from the country by December.
Bintou Keita, head of the mission known as MONUSCO says after 25 years of presence, MONUSCO will definitively leave the DRC no later than the end of 2024.
The announcement comes after the Congolese government called for the UN mission to leave the country, saying it had failed to protect civilians from armed groups.
Numerous armed groups, including the Allied Democratic Forces and M23, are active in restive eastern areas such as North Kivu, South Kivu and Ituri provinces, where civilians face violence and displacement.
The United Nations peacekeeping mission in the Democratic Republic of the Congo, which has helped in the fight against rebels for more than two decades, will completely withdraw from the country by December.
Bintou Keita, head of the mission known as MONUSCO says after 25 years of presence, MONUSCO will definitively leave the DRC no later than the end of 2024.
The announcement comes after the Congolese government called for the UN mission to leave the country, saying it had failed to protect civilians from armed groups.
Numerous armed groups, including the Allied Democratic Forces and M23, are active in restive eastern areas such as North Kivu, South Kivu and Ituri provinces, where civilians face violence and displacement.
Namibian President Hage Geingob has called on Germany to reconsider its untimely decision to reject the charge that Israel is committing genocide in Gaza in the case brought by South Africa at the International Court of Justice in the Hague.
He says Germany cannot morally express commitment to the United Nations Convention against genocide, including atonement for the genocide in Namibia, whilst supporting the equivalent of a holocaust and genocide in Gaza.
First Lady Monica Geingos added that the absurdity of Germany, on 12 January 2024, rejecting genocide charges against Israel and warning about the 'political instrumentalisation of the charge is not lost on us.
Namibian President Hage Geingob has called on Germany to reconsider its untimely decision to reject the charge that Israel is committing genocide in Gaza in the case brought by South Africa at the International Court of Justice in the Hague.
He says Germany cannot morally express commitment to the United Nations Convention against genocide, including atonement for the genocide in Namibia, whilst supporting the equivalent of a holocaust and genocide in Gaza.
First Lady Monica Geingos added that the absurdity of Germany, on 12 January 2024, rejecting genocide charges against Israel and warning about the 'political instrumentalisation of the charge is not lost on us.
Nigeria is set to launch an initiative to boost broadband development and adoption in Edo, Ogun, Kwara, Katsina, Imo, Abia, Borno, and Nasarawa in the first quarter of 2024.
The office of the minister, Dr ‘Bosun Tijani, stated that individuals and communities face a growing barrier to navigating the interconnected landscape of today’s world without reliable and affordable Internet access and the resulting barriers from this limited Internet access range from economic to knowledge exchange barriers.
It highlighted that nations gain unprecedented benefits in speed, reliability, and future scaling when they build modern broadband infrastructures.
Nigeria is set to launch an initiative to boost broadband development and adoption in Edo, Ogun, Kwara, Katsina, Imo, Abia, Borno, and Nasarawa in the first quarter of 2024.
The office of the minister, Dr ‘Bosun Tijani, stated that individuals and communities face a growing barrier to navigating the interconnected landscape of today’s world without reliable and affordable Internet access and the resulting barriers from this limited Internet access range from economic to knowledge exchange barriers.
It highlighted that nations gain unprecedented benefits in speed, reliability, and future scaling when they build modern broadband infrastructures.
The African Export-Import Bank and the United Bank for Africa have disbursed $2.25bn of the $3.3bn oil-for-cash loan facility arranged by the Nigerian National Petroleum Company Limited.
An initial disbursement of $2.25bn has been made and a second tranche of $1.05bn is expected to be disbursed subsequently.
UBA says that the five-year facility carries a margin of 6.0 per cent per annum above the three-month secured overnight financing rate.
The NNPCL Group Chief Executive Officer, Mele Kolo Kyari, said that the proceeds of the facility have been made available to the federal government as one of the strategies for improving macroeconomic stability.
The African Export-Import Bank and the United Bank for Africa have disbursed $2.25bn of the $3.3bn oil-for-cash loan facility arranged by the Nigerian National Petroleum Company Limited.
An initial disbursement of $2.25bn has been made and a second tranche of $1.05bn is expected to be disbursed subsequently.
UBA says that the five-year facility carries a margin of 6.0 per cent per annum above the three-month secured overnight financing rate.
The NNPCL Group Chief Executive Officer, Mele Kolo Kyari, said that the proceeds of the facility have been made available to the federal government as one of the strategies for improving macroeconomic stability.
A group has called on the National Assembly leadership to cut down the budget for lawmakers worried by the current economic realities in the country,
The Socio-Economic Rights and Accountability Project deputy director, Kolawole Oluwadare, specifically asked the Senate President, Godswill Akpabio, and Speaker of the House of Representatives, Tajudeen Abbas to promptly reduce the National Assembly budget of N344.85 billion, to reflect the current economic realities in the country, and cut the cost of governance.
The group also wants them to request President Bola Tinubu to present a fresh supplementary appropriation bill, which reflects the reduced National Assembly budget for the approval of the National Assembly.
Oluwadare warned that the arbitrary increase by the lawmakers of their budgetary allocation, if not cut, would have significant fiscal consequences and exacerbate the country’s debt crisis.
A group has called on the National Assembly leadership to cut down the budget for lawmakers worried by the current economic realities in the country,
The Socio-Economic Rights and Accountability Project deputy director, Kolawole Oluwadare, specifically asked the Senate President, Godswill Akpabio, and Speaker of the House of Representatives, Tajudeen Abbas to promptly reduce the National Assembly budget of N344.85 billion, to reflect the current economic realities in the country, and cut the cost of governance.
The group also wants them to request President Bola Tinubu to present a fresh supplementary appropriation bill, which reflects the reduced National Assembly budget for the approval of the National Assembly.
Oluwadare warned that the arbitrary increase by the lawmakers of their budgetary allocation, if not cut, would have significant fiscal consequences and exacerbate the country’s debt crisis.
Thousands of Greek students rallied in Athens and other cities to protest against planned education reforms that would allow the introduction of private universities in the country.
The conservative government of Prime Minister Kyriakos Mitsotakis, who won a second term last year, is expected to submit a bill to parliament this month that would permit private universities to operate inside Greece.
The government says the schools will operate as branches of foreign universities. Many believe the move will devalue degrees from Greece’s public universities and that the private system will exclude those who cannot afford it.
Thousands of Greek students rallied in Athens and other cities to protest against planned education reforms that would allow the introduction of private universities in the country.
The conservative government of Prime Minister Kyriakos Mitsotakis, who won a second term last year, is expected to submit a bill to parliament this month that would permit private universities to operate inside Greece.
The government says the schools will operate as branches of foreign universities. Many believe the move will devalue degrees from Greece’s public universities and that the private system will exclude those who cannot afford it.
Rishi Sunak is facing a significant rebellion from Tory MPs over legislation to revive his plan to send some asylum seekers to Rwanda.
The amendments underline the scale of Tory division over the policy, which the PM has made a priority.
Ministers insist the bill allows only a vanishingly small number of appeals.
Those backing the amendments include former Tory leader Sir Iain Duncan Smith and a clutch of former cabinet ministers, including former home secretary Suella Braverman.
Rishi Sunak is facing a significant rebellion from Tory MPs over legislation to revive his plan to send some asylum seekers to Rwanda.
The amendments underline the scale of Tory division over the policy, which the PM has made a priority.
Ministers insist the bill allows only a vanishingly small number of appeals.
Those backing the amendments include former Tory leader Sir Iain Duncan Smith and a clutch of former cabinet ministers, including former home secretary Suella Braverman.
Global software giant SAP has agreed to pay more than $220m to settle bribery charges involving government officials around the world.
The money and gifts, typically routed via outside business consultants, were intended to help win business in South Africa, Indonesia and elsewhere, according to US officials.
The schemes allegedly operated from at least December 2014 until January 2022.
SAP said it had cooperated with investigators and overhauled policies.
Subsidiaries of the firm in operating in five countries in Africa, Azerbaijan and Indonesia engaged in bribery schemes, repeatedly breaking company policies that were intended to guard against corruption.
Global software giant SAP has agreed to pay more than $220m to settle bribery charges involving government officials around the world.
The money and gifts, typically routed via outside business consultants, were intended to help win business in South Africa, Indonesia and elsewhere, according to US officials.
The schemes allegedly operated from at least December 2014 until January 2022.
SAP said it had cooperated with investigators and overhauled policies.
Subsidiaries of the firm in operating in five countries in Africa, Azerbaijan and Indonesia engaged in bribery schemes, repeatedly breaking company policies that were intended to guard against corruption.
The Organisation of the Petroleum Exporting Countries is seeking more investment in oil despite global push for renewable energy sources.
OPEC says oil remains indispensable in the renewable energy transition, projecting in its recent 2023 World Oil Outlook that the global oil demand would hit 116 million barrels a day by the year 2045.
The Secretary-General of OPEC, Haitham Al Ghais, had earlier disagreed with calls to stop investments in new oil projects, saying such calls were misguided and could lead to energy and economic chaos.
OPEC maintained that the transition to renewable energy will require a lot of steel, concrete and plastic.
The Organisation of the Petroleum Exporting Countries is seeking more investment in oil despite global push for renewable energy sources.
OPEC says oil remains indispensable in the renewable energy transition, projecting in its recent 2023 World Oil Outlook that the global oil demand would hit 116 million barrels a day by the year 2045.
The Secretary-General of OPEC, Haitham Al Ghais, had earlier disagreed with calls to stop investments in new oil projects, saying such calls were misguided and could lead to energy and economic chaos.
OPEC maintained that the transition to renewable energy will require a lot of steel, concrete and plastic.
The World Bank says after lagging the pace of global growth in 2023, global trade is projected to pick up to 2.3 percent in 2024, mirroring projected growth in global output.
The World Bank’s latest Global Economic Prospects report revealed that global trade in goods and services was virtually flat in 2023, growing by an estimated 0.2 percent—the slowest expansion outside global recessions in the past 50 years.
Goods trade contracted last year, reflecting declines in key advanced economies and deceleration in EMDEs, and mirroring the sharp slowdown in the growth of global industrial production.
The World Bank says after lagging the pace of global growth in 2023, global trade is projected to pick up to 2.3 percent in 2024, mirroring projected growth in global output.
The World Bank’s latest Global Economic Prospects report revealed that global trade in goods and services was virtually flat in 2023, growing by an estimated 0.2 percent—the slowest expansion outside global recessions in the past 50 years.
Goods trade contracted last year, reflecting declines in key advanced economies and deceleration in EMDEs, and mirroring the sharp slowdown in the growth of global industrial production.
The Federal Government is set to spend N450bn on power interventions in 2024.
This is according to the budget analysis of the Nigerian Bulk Electricity Trading Company.
The Government Owned Enterprise’s expenditure intends to spend a total of N454.81bn in 2024.
N2.44bn will be spent on personnel costs, N2.36bn will be spent on other recurrent costs, N580m on general travel and transport, N15m on utilities, N110m on materials and supplies, N210.75m on general maintenance services, N34m on other services, N60m on fuel and lubricants, N40m on financial charges, N576m on miscellaneous, and N736.51m on supplementary overhead.
The Federal Government is set to spend N450bn on power interventions in 2024.
This is according to the budget analysis of the Nigerian Bulk Electricity Trading Company.
The Government Owned Enterprise’s expenditure intends to spend a total of N454.81bn in 2024.
N2.44bn will be spent on personnel costs, N2.36bn will be spent on other recurrent costs, N580m on general travel and transport, N15m on utilities, N110m on materials and supplies, N210.75m on general maintenance services, N34m on other services, N60m on fuel and lubricants, N40m on financial charges, N576m on miscellaneous, and N736.51m on supplementary overhead.
German Foreign Minister Annalena Baerbock says Germany is prepared to allow further deliveries of Eurofighter jets to Saudi Arabia.
Berlin halted arms sales to Saudi Arabia following the killing of Saudi journalist Jamal Khashoggi inside the Saudi consulate in Istanbul in 2018.
Chancellor Olaf Scholz had pushed back against pressure to unblock the delivery of Eurofighters to Saudi Arabia.
The Eurofighter project is a joint British, German, Italian and Spanish effort.
German Foreign Minister Annalena Baerbock says Germany is prepared to allow further deliveries of Eurofighter jets to Saudi Arabia.
Berlin halted arms sales to Saudi Arabia following the killing of Saudi journalist Jamal Khashoggi inside the Saudi consulate in Istanbul in 2018.
Chancellor Olaf Scholz had pushed back against pressure to unblock the delivery of Eurofighters to Saudi Arabia.
The Eurofighter project is a joint British, German, Italian and Spanish effort.
German Foreign Minister Annalena Baerbock says Germany is prepared to allow further deliveries of Eurofighter jets to Saudi Arabia.
Berlin halted arms sales to Saudi Arabia following the killing of Saudi journalist Jamal Khashoggi inside the Saudi consulate in Istanbul in 2018.
Chancellor Olaf Scholz had pushed back against pressure to unblock the delivery of Eurofighters to Saudi Arabia.
The Eurofighter project is a joint British, German, Italian and Spanish effort.
German Foreign Minister Annalena Baerbock says Germany is prepared to allow further deliveries of Eurofighter jets to Saudi Arabia.
Berlin halted arms sales to Saudi Arabia following the killing of Saudi journalist Jamal Khashoggi inside the Saudi consulate in Istanbul in 2018.
Chancellor Olaf Scholz had pushed back against pressure to unblock the delivery of Eurofighters to Saudi Arabia.
The Eurofighter project is a joint British, German, Italian and Spanish effort.
German Foreign Minister Annalena Baerbock says Germany is prepared to allow further deliveries of Eurofighter jets to Saudi Arabia.
Berlin halted arms sales to Saudi Arabia following the killing of Saudi journalist Jamal Khashoggi inside the Saudi consulate in Istanbul in 2018.
Chancellor Olaf Scholz had pushed back against pressure to unblock the delivery of Eurofighters to Saudi Arabia.
The Eurofighter project is a joint British, German, Italian and Spanish effort.
German Foreign Minister Annalena Baerbock says Germany is prepared to allow further deliveries of Eurofighter jets to Saudi Arabia.
Berlin halted arms sales to Saudi Arabia following the killing of Saudi journalist Jamal Khashoggi inside the Saudi consulate in Istanbul in 2018.
Chancellor Olaf Scholz had pushed back against pressure to unblock the delivery of Eurofighters to Saudi Arabia.
The Eurofighter project is a joint British, German, Italian and Spanish effort.
China has announced sanctions on five Western defence firms over the latest round of US arms sales to Taiwan.
The announcement comes as Taiwan prepares to hold presidential and parliamentary elections on 13 January.
The Chinese Foreign Ministry says that the sanctions were in response to these gravely wrong actions taken by the US.
The companies being sanctioned were named BAE Systems Land and Armament, Alliant Techsystems Operation, AeroVironment, ViaSat and Data Link Solutions.
China will freeze the assets of the companies and ban people and organisations in China from engaging them.
China has announced sanctions on five Western defence firms over the latest round of US arms sales to Taiwan.
The announcement comes as Taiwan prepares to hold presidential and parliamentary elections on 13 January.
The Chinese Foreign Ministry says that the sanctions were in response to these gravely wrong actions taken by the US.
The companies being sanctioned were named BAE Systems Land and Armament, Alliant Techsystems Operation, AeroVironment, ViaSat and Data Link Solutions.
China will freeze the assets of the companies and ban people and organisations in China from engaging them.
China has announced sanctions on five Western defence firms over the latest round of US arms sales to Taiwan.
The announcement comes as Taiwan prepares to hold presidential and parliamentary elections on 13 January.
The Chinese Foreign Ministry says that the sanctions were in response to these gravely wrong actions taken by the US.
The companies being sanctioned were named BAE Systems Land and Armament, Alliant Techsystems Operation, AeroVironment, ViaSat and Data Link Solutions.
China will freeze the assets of the companies and ban people and organisations in China from engaging them.
China has announced sanctions on five Western defence firms over the latest round of US arms sales to Taiwan.
The announcement comes as Taiwan prepares to hold presidential and parliamentary elections on 13 January.
The Chinese Foreign Ministry says that the sanctions were in response to these gravely wrong actions taken by the US.
The companies being sanctioned were named BAE Systems Land and Armament, Alliant Techsystems Operation, AeroVironment, ViaSat and Data Link Solutions.
China will freeze the assets of the companies and ban people and organisations in China from engaging them.
China has announced sanctions on five Western defence firms over the latest round of US arms sales to Taiwan.
The announcement comes as Taiwan prepares to hold presidential and parliamentary elections on 13 January.
The Chinese Foreign Ministry says that the sanctions were in response to these gravely wrong actions taken by the US.
The companies being sanctioned were named BAE Systems Land and Armament, Alliant Techsystems Operation, AeroVironment, ViaSat and Data Link Solutions.
China will freeze the assets of the companies and ban people and organisations in China from engaging them.
China has announced sanctions on five Western defence firms over the latest round of US arms sales to Taiwan.
The announcement comes as Taiwan prepares to hold presidential and parliamentary elections on 13 January.
The Chinese Foreign Ministry says that the sanctions were in response to these gravely wrong actions taken by the US.
The companies being sanctioned were named BAE Systems Land and Armament, Alliant Techsystems Operation, AeroVironment, ViaSat and Data Link Solutions.
China will freeze the assets of the companies and ban people and organisations in China from engaging them.
A major Chinese shadow bank has filed for bankruptcy on the grounds it was unable to pay its debts.
A Beijing court accepted the application from Zhongzhi Enterprise Group which has lent billions to real estate firms.
Chinese officials launched an investigation into suspected crimes against the firm in November.
It followed reports that ZEG had declared it was insolvent.
A Beijing court published a statement on the social media network WeChat saying that ZEG's "assets are insufficient to pay off all debts, and it cannot repay in full.
Unregulated shadow banking is not subject to the same kinds of risk, liquidity and capital restrictions as traditional banks.
A major Chinese shadow bank has filed for bankruptcy on the grounds it was unable to pay its debts.
A Beijing court accepted the application from Zhongzhi Enterprise Group which has lent billions to real estate firms.
Chinese officials launched an investigation into suspected crimes against the firm in November.
It followed reports that ZEG had declared it was insolvent.
A Beijing court published a statement on the social media network WeChat saying that ZEG's "assets are insufficient to pay off all debts, and it cannot repay in full.
Unregulated shadow banking is not subject to the same kinds of risk, liquidity and capital restrictions as traditional banks.
A major Chinese shadow bank has filed for bankruptcy on the grounds it was unable to pay its debts.
A Beijing court accepted the application from Zhongzhi Enterprise Group which has lent billions to real estate firms.
Chinese officials launched an investigation into suspected crimes against the firm in November.
It followed reports that ZEG had declared it was insolvent.
A Beijing court published a statement on the social media network WeChat saying that ZEG's "assets are insufficient to pay off all debts, and it cannot repay in full.
Unregulated shadow banking is not subject to the same kinds of risk, liquidity and capital restrictions as traditional banks.
A major Chinese shadow bank has filed for bankruptcy on the grounds it was unable to pay its debts.
A Beijing court accepted the application from Zhongzhi Enterprise Group which has lent billions to real estate firms.
Chinese officials launched an investigation into suspected crimes against the firm in November.
It followed reports that ZEG had declared it was insolvent.
A Beijing court published a statement on the social media network WeChat saying that ZEG's "assets are insufficient to pay off all debts, and it cannot repay in full.
Unregulated shadow banking is not subject to the same kinds of risk, liquidity and capital restrictions as traditional banks.
A major Chinese shadow bank has filed for bankruptcy on the grounds it was unable to pay its debts.
A Beijing court accepted the application from Zhongzhi Enterprise Group which has lent billions to real estate firms.
Chinese officials launched an investigation into suspected crimes against the firm in November.
It followed reports that ZEG had declared it was insolvent.
A Beijing court published a statement on the social media network WeChat saying that ZEG's "assets are insufficient to pay off all debts, and it cannot repay in full.
Unregulated shadow banking is not subject to the same kinds of risk, liquidity and capital restrictions as traditional banks.
A major Chinese shadow bank has filed for bankruptcy on the grounds it was unable to pay its debts.
A Beijing court accepted the application from Zhongzhi Enterprise Group which has lent billions to real estate firms.
Chinese officials launched an investigation into suspected crimes against the firm in November.
It followed reports that ZEG had declared it was insolvent.
A Beijing court published a statement on the social media network WeChat saying that ZEG's "assets are insufficient to pay off all debts, and it cannot repay in full.
Unregulated shadow banking is not subject to the same kinds of risk, liquidity and capital restrictions as traditional banks.
The defence minister of the self-declared republic of Somaliland has resigned in protest against a deal granting Ethiopia access to a seaport in the breakaway region of Somalia.
Abdiqani Mohamoud Ateye criticised Somaliland President Muse Bihi Abdi “for not consulting the council of ministers on the port deal with Ethiopia.
The memorandum of understanding (MoU) reportedly gives landlocked Ethiopia access to the Red Sea in exchange for it recognising Somaliland as an independent state.
Somalia has termed the deal an act of "aggression" and recalled its ambassador to Addis Ababa.
There are reports that Ethiopia’s ambassador to Somalia has also returned to Addis Ababa amid a diplomatic row between the two countries.
The defence minister of the self-declared republic of Somaliland has resigned in protest against a deal granting Ethiopia access to a seaport in the breakaway region of Somalia.
Abdiqani Mohamoud Ateye criticised Somaliland President Muse Bihi Abdi “for not consulting the council of ministers on the port deal with Ethiopia.
The memorandum of understanding (MoU) reportedly gives landlocked Ethiopia access to the Red Sea in exchange for it recognising Somaliland as an independent state.
Somalia has termed the deal an act of "aggression" and recalled its ambassador to Addis Ababa.
There are reports that Ethiopia’s ambassador to Somalia has also returned to Addis Ababa amid a diplomatic row between the two countries.
The defence minister of the self-declared republic of Somaliland has resigned in protest against a deal granting Ethiopia access to a seaport in the breakaway region of Somalia.
Abdiqani Mohamoud Ateye criticised Somaliland President Muse Bihi Abdi “for not consulting the council of ministers on the port deal with Ethiopia.
The memorandum of understanding (MoU) reportedly gives landlocked Ethiopia access to the Red Sea in exchange for it recognising Somaliland as an independent state.
Somalia has termed the deal an act of "aggression" and recalled its ambassador to Addis Ababa.
There are reports that Ethiopia’s ambassador to Somalia has also returned to Addis Ababa amid a diplomatic row between the two countries.
The defence minister of the self-declared republic of Somaliland has resigned in protest against a deal granting Ethiopia access to a seaport in the breakaway region of Somalia.
Abdiqani Mohamoud Ateye criticised Somaliland President Muse Bihi Abdi “for not consulting the council of ministers on the port deal with Ethiopia.
The memorandum of understanding (MoU) reportedly gives landlocked Ethiopia access to the Red Sea in exchange for it recognising Somaliland as an independent state.
Somalia has termed the deal an act of "aggression" and recalled its ambassador to Addis Ababa.
There are reports that Ethiopia’s ambassador to Somalia has also returned to Addis Ababa amid a diplomatic row between the two countries.
The defence minister of the self-declared republic of Somaliland has resigned in protest against a deal granting Ethiopia access to a seaport in the breakaway region of Somalia.
Abdiqani Mohamoud Ateye criticised Somaliland President Muse Bihi Abdi “for not consulting the council of ministers on the port deal with Ethiopia.
The memorandum of understanding (MoU) reportedly gives landlocked Ethiopia access to the Red Sea in exchange for it recognising Somaliland as an independent state.
Somalia has termed the deal an act of "aggression" and recalled its ambassador to Addis Ababa.
There are reports that Ethiopia’s ambassador to Somalia has also returned to Addis Ababa amid a diplomatic row between the two countries.
The defence minister of the self-declared republic of Somaliland has resigned in protest against a deal granting Ethiopia access to a seaport in the breakaway region of Somalia.
Abdiqani Mohamoud Ateye criticised Somaliland President Muse Bihi Abdi “for not consulting the council of ministers on the port deal with Ethiopia.
The memorandum of understanding (MoU) reportedly gives landlocked Ethiopia access to the Red Sea in exchange for it recognising Somaliland as an independent state.
Somalia has termed the deal an act of "aggression" and recalled its ambassador to Addis Ababa.
There are reports that Ethiopia’s ambassador to Somalia has also returned to Addis Ababa amid a diplomatic row between the two countries.
The group of emerging markets nations has welcomed five new nations—Saudi Arabia, Iran, the United Arab Emirates, Ethiopia, and Egypt—to join its crew starting January 1.
This expansion comes as part of the invitation extended by the current BRICS members—Brazil, Russia, India, China, and South Africa—to six other nations in August.
The sixth country, Argentina, was the only nation to decline the invitation, with President Javier Milei reversing his predecessor’s membership bid after assuming office this month. The expansion process will continue with the new members sending officials to a sherpa meeting scheduled in Moscow on January 30.
The group of emerging markets nations has welcomed five new nations—Saudi Arabia, Iran, the United Arab Emirates, Ethiopia, and Egypt—to join its crew starting January 1.
This expansion comes as part of the invitation extended by the current BRICS members—Brazil, Russia, India, China, and South Africa—to six other nations in August.
The sixth country, Argentina, was the only nation to decline the invitation, with President Javier Milei reversing his predecessor’s membership bid after assuming office this month. The expansion process will continue with the new members sending officials to a sherpa meeting scheduled in Moscow on January 30.
The group of emerging markets nations has welcomed five new nations—Saudi Arabia, Iran, the United Arab Emirates, Ethiopia, and Egypt—to join its crew starting January 1.
This expansion comes as part of the invitation extended by the current BRICS members—Brazil, Russia, India, China, and South Africa—to six other nations in August.
The sixth country, Argentina, was the only nation to decline the invitation, with President Javier Milei reversing his predecessor’s membership bid after assuming office this month. The expansion process will continue with the new members sending officials to a sherpa meeting scheduled in Moscow on January 30.
The group of emerging markets nations has welcomed five new nations—Saudi Arabia, Iran, the United Arab Emirates, Ethiopia, and Egypt—to join its crew starting January 1.
This expansion comes as part of the invitation extended by the current BRICS members—Brazil, Russia, India, China, and South Africa—to six other nations in August.
The sixth country, Argentina, was the only nation to decline the invitation, with President Javier Milei reversing his predecessor’s membership bid after assuming office this month. The expansion process will continue with the new members sending officials to a sherpa meeting scheduled in Moscow on January 30.
The group of emerging markets nations has welcomed five new nations—Saudi Arabia, Iran, the United Arab Emirates, Ethiopia, and Egypt—to join its crew starting January 1.
This expansion comes as part of the invitation extended by the current BRICS members—Brazil, Russia, India, China, and South Africa—to six other nations in August.
The sixth country, Argentina, was the only nation to decline the invitation, with President Javier Milei reversing his predecessor’s membership bid after assuming office this month. The expansion process will continue with the new members sending officials to a sherpa meeting scheduled in Moscow on January 30.
The group of emerging markets nations has welcomed five new nations—Saudi Arabia, Iran, the United Arab Emirates, Ethiopia, and Egypt—to join its crew starting January 1.
This expansion comes as part of the invitation extended by the current BRICS members—Brazil, Russia, India, China, and South Africa—to six other nations in August.
The sixth country, Argentina, was the only nation to decline the invitation, with President Javier Milei reversing his predecessor’s membership bid after assuming office this month. The expansion process will continue with the new members sending officials to a sherpa meeting scheduled in Moscow on January 30.
Libya's state-owned energy firm has declared a state of force majeure at the Al-Sharara oilfield after protests disrupted production at the facility.
The field, which had daily production of up to 300,000 barrels, was closed a few days ago following protests in the area.
The National Oil Corporation says the closure has resulted in the suspension of crude oil supplies from the field to the Zawiya terminal.
The NOC did not elaborate on the protesters' demands but says negotiations are ongoing to resume production as soon as possible.
Libya's state-owned energy firm has declared a state of force majeure at the Al-Sharara oilfield after protests disrupted production at the facility.
The field, which had daily production of up to 300,000 barrels, was closed a few days ago following protests in the area.
The National Oil Corporation says the closure has resulted in the suspension of crude oil supplies from the field to the Zawiya terminal.
The NOC did not elaborate on the protesters' demands but says negotiations are ongoing to resume production as soon as possible.
Libya's state-owned energy firm has declared a state of force majeure at the Al-Sharara oilfield after protests disrupted production at the facility.
The field, which had daily production of up to 300,000 barrels, was closed a few days ago following protests in the area.
The National Oil Corporation says the closure has resulted in the suspension of crude oil supplies from the field to the Zawiya terminal.
The NOC did not elaborate on the protesters' demands but says negotiations are ongoing to resume production as soon as possible.
Libya's state-owned energy firm has declared a state of force majeure at the Al-Sharara oilfield after protests disrupted production at the facility.
The field, which had daily production of up to 300,000 barrels, was closed a few days ago following protests in the area.
The National Oil Corporation says the closure has resulted in the suspension of crude oil supplies from the field to the Zawiya terminal.
The NOC did not elaborate on the protesters' demands but says negotiations are ongoing to resume production as soon as possible.
Libya's state-owned energy firm has declared a state of force majeure at the Al-Sharara oilfield after protests disrupted production at the facility.
The field, which had daily production of up to 300,000 barrels, was closed a few days ago following protests in the area.
The National Oil Corporation says the closure has resulted in the suspension of crude oil supplies from the field to the Zawiya terminal.
The NOC did not elaborate on the protesters' demands but says negotiations are ongoing to resume production as soon as possible.
Libya's state-owned energy firm has declared a state of force majeure at the Al-Sharara oilfield after protests disrupted production at the facility.
The field, which had daily production of up to 300,000 barrels, was closed a few days ago following protests in the area.
The National Oil Corporation says the closure has resulted in the suspension of crude oil supplies from the field to the Zawiya terminal.
The NOC did not elaborate on the protesters' demands but says negotiations are ongoing to resume production as soon as possible.
Health authorities in Rwanda have recalled batches of antifungal tablets made in Kenya over safety concerns.
The Rwanda Food and Drugs Authority instructed importers to return all batches of 200mg Fluconazole tablets manufactured by Univeral Corporation, a Kenyan company.
It also ordered all retailers and health facilities to stop the distribution of the drugs and return them to suppliers.
Health officials in Rwanda say they will investigate to ascertain if the drugs have had any adverse effects on consumers.
Health authorities in Rwanda have recalled batches of antifungal tablets made in Kenya over safety concerns.
The Rwanda Food and Drugs Authority instructed importers to return all batches of 200mg Fluconazole tablets manufactured by Univeral Corporation, a Kenyan company.
It also ordered all retailers and health facilities to stop the distribution of the drugs and return them to suppliers.
Health officials in Rwanda say they will investigate to ascertain if the drugs have had any adverse effects on consumers.
Health authorities in Rwanda have recalled batches of antifungal tablets made in Kenya over safety concerns.
The Rwanda Food and Drugs Authority instructed importers to return all batches of 200mg Fluconazole tablets manufactured by Univeral Corporation, a Kenyan company.
It also ordered all retailers and health facilities to stop the distribution of the drugs and return them to suppliers.
Health officials in Rwanda say they will investigate to ascertain if the drugs have had any adverse effects on consumers.
Health authorities in Rwanda have recalled batches of antifungal tablets made in Kenya over safety concerns.
The Rwanda Food and Drugs Authority instructed importers to return all batches of 200mg Fluconazole tablets manufactured by Univeral Corporation, a Kenyan company.
It also ordered all retailers and health facilities to stop the distribution of the drugs and return them to suppliers.
Health officials in Rwanda say they will investigate to ascertain if the drugs have had any adverse effects on consumers.
Health authorities in Rwanda have recalled batches of antifungal tablets made in Kenya over safety concerns.
The Rwanda Food and Drugs Authority instructed importers to return all batches of 200mg Fluconazole tablets manufactured by Univeral Corporation, a Kenyan company.
It also ordered all retailers and health facilities to stop the distribution of the drugs and return them to suppliers.
Health officials in Rwanda say they will investigate to ascertain if the drugs have had any adverse effects on consumers.
Health authorities in Rwanda have recalled batches of antifungal tablets made in Kenya over safety concerns.
The Rwanda Food and Drugs Authority instructed importers to return all batches of 200mg Fluconazole tablets manufactured by Univeral Corporation, a Kenyan company.
It also ordered all retailers and health facilities to stop the distribution of the drugs and return them to suppliers.
Health officials in Rwanda say they will investigate to ascertain if the drugs have had any adverse effects on consumers.
Nigeria’s apex bank has confirmed that the country’s stablecoin, the cNGN, will launch on February 27, 2024.
Stablecoins will help with currency stability because they’re backed by stable assets.
The other promises of stablecoins—lower remittance fees + financial inclusion—might not be enough to help Nigeria’s ailing currency.
The Central Bank of Nigeria earlier launched Africa’s first central bank digital currency, the eNaira, for similar uses—increasing remittance inflow and border trade and financial inclusion.
Nigeria’s apex bank has confirmed that the country’s stablecoin, the cNGN, will launch on February 27, 2024.
Stablecoins will help with currency stability because they’re backed by stable assets.
The other promises of stablecoins—lower remittance fees + financial inclusion—might not be enough to help Nigeria’s ailing currency.
The Central Bank of Nigeria earlier launched Africa’s first central bank digital currency, the eNaira, for similar uses—increasing remittance inflow and border trade and financial inclusion.
Nigeria’s apex bank has confirmed that the country’s stablecoin, the cNGN, will launch on February 27, 2024.
Stablecoins will help with currency stability because they’re backed by stable assets.
The other promises of stablecoins—lower remittance fees + financial inclusion—might not be enough to help Nigeria’s ailing currency.
The Central Bank of Nigeria earlier launched Africa’s first central bank digital currency, the eNaira, for similar uses—increasing remittance inflow and border trade and financial inclusion.
Nigeria’s apex bank has confirmed that the country’s stablecoin, the cNGN, will launch on February 27, 2024.
Stablecoins will help with currency stability because they’re backed by stable assets.
The other promises of stablecoins—lower remittance fees + financial inclusion—might not be enough to help Nigeria’s ailing currency.
The Central Bank of Nigeria earlier launched Africa’s first central bank digital currency, the eNaira, for similar uses—increasing remittance inflow and border trade and financial inclusion.
Nigeria’s apex bank has confirmed that the country’s stablecoin, the cNGN, will launch on February 27, 2024.
Stablecoins will help with currency stability because they’re backed by stable assets.
The other promises of stablecoins—lower remittance fees + financial inclusion—might not be enough to help Nigeria’s ailing currency.
The Central Bank of Nigeria earlier launched Africa’s first central bank digital currency, the eNaira, for similar uses—increasing remittance inflow and border trade and financial inclusion.
Nigeria’s apex bank has confirmed that the country’s stablecoin, the cNGN, will launch on February 27, 2024.
Stablecoins will help with currency stability because they’re backed by stable assets.
The other promises of stablecoins—lower remittance fees + financial inclusion—might not be enough to help Nigeria’s ailing currency.
The Central Bank of Nigeria earlier launched Africa’s first central bank digital currency, the eNaira, for similar uses—increasing remittance inflow and border trade and financial inclusion.
The Minister of State for Defence Bello Matawalle has presented two hi-tech unmanned water vessels to President Bola Tinubu at the Presidential Villa in Abuja.
The vessels are to help Nigeria in the fight against insecurity on the country’s waterways.
The ministry’s spokesman Henshaw Ogubike says the unmanned ships were a donation by Swift Ship Company in USA to the Nigerian Government.
Matawalle says the S2 and S3 Swift Sea Stalkers are the latest technologies that would be deployed in fighting insecurity in the Niger Delta, Lake Chad region, and other maritime regions of the country.
The Minister of State for Defence Bello Matawalle has presented two hi-tech unmanned water vessels to President Bola Tinubu at the Presidential Villa in Abuja.
The vessels are to help Nigeria in the fight against insecurity on the country’s waterways.
The ministry’s spokesman Henshaw Ogubike says the unmanned ships were a donation by Swift Ship Company in USA to the Nigerian Government.
Matawalle says the S2 and S3 Swift Sea Stalkers are the latest technologies that would be deployed in fighting insecurity in the Niger Delta, Lake Chad region, and other maritime regions of the country.
The Minister of State for Defence Bello Matawalle has presented two hi-tech unmanned water vessels to President Bola Tinubu at the Presidential Villa in Abuja.
The vessels are to help Nigeria in the fight against insecurity on the country’s waterways.
The ministry’s spokesman Henshaw Ogubike says the unmanned ships were a donation by Swift Ship Company in USA to the Nigerian Government.
Matawalle says the S2 and S3 Swift Sea Stalkers are the latest technologies that would be deployed in fighting insecurity in the Niger Delta, Lake Chad region, and other maritime regions of the country.
The Minister of State for Defence Bello Matawalle has presented two hi-tech unmanned water vessels to President Bola Tinubu at the Presidential Villa in Abuja.
The vessels are to help Nigeria in the fight against insecurity on the country’s waterways.
The ministry’s spokesman Henshaw Ogubike says the unmanned ships were a donation by Swift Ship Company in USA to the Nigerian Government.
Matawalle says the S2 and S3 Swift Sea Stalkers are the latest technologies that would be deployed in fighting insecurity in the Niger Delta, Lake Chad region, and other maritime regions of the country.
The Minister of State for Defence Bello Matawalle has presented two hi-tech unmanned water vessels to President Bola Tinubu at the Presidential Villa in Abuja.
The vessels are to help Nigeria in the fight against insecurity on the country’s waterways.
The ministry’s spokesman Henshaw Ogubike says the unmanned ships were a donation by Swift Ship Company in USA to the Nigerian Government.
Matawalle says the S2 and S3 Swift Sea Stalkers are the latest technologies that would be deployed in fighting insecurity in the Niger Delta, Lake Chad region, and other maritime regions of the country.
The Minister of State for Defence Bello Matawalle has presented two hi-tech unmanned water vessels to President Bola Tinubu at the Presidential Villa in Abuja.
The vessels are to help Nigeria in the fight against insecurity on the country’s waterways.
The ministry’s spokesman Henshaw Ogubike says the unmanned ships were a donation by Swift Ship Company in USA to the Nigerian Government.
Matawalle says the S2 and S3 Swift Sea Stalkers are the latest technologies that would be deployed in fighting insecurity in the Niger Delta, Lake Chad region, and other maritime regions of the country.
The National Association of Nigerian Students, Benin Republic, has called for leniency over the ban on validation of degree certificates from the country and Togo, saying 15,000 Nigerian students are in Benin.
The Federal Government banned the validation of degree certificates from the countries.
The NANS president of Benin Republic Ugochukwu Favour said the government should consider legitimately admitted students.
The National Association of Nigerian Students, Benin Republic, has called for leniency over the ban on validation of degree certificates from the country and Togo, saying 15,000 Nigerian students are in Benin.
The Federal Government banned the validation of degree certificates from the countries.
The NANS president of Benin Republic Ugochukwu Favour said the government should consider legitimately admitted students.
The National Association of Nigerian Students, Benin Republic, has called for leniency over the ban on validation of degree certificates from the country and Togo, saying 15,000 Nigerian students are in Benin.
The Federal Government banned the validation of degree certificates from the countries.
The NANS president of Benin Republic Ugochukwu Favour said the government should consider legitimately admitted students.
The National Association of Nigerian Students, Benin Republic, has called for leniency over the ban on validation of degree certificates from the country and Togo, saying 15,000 Nigerian students are in Benin.
The Federal Government banned the validation of degree certificates from the countries.
The NANS president of Benin Republic Ugochukwu Favour said the government should consider legitimately admitted students.
The National Association of Nigerian Students, Benin Republic, has called for leniency over the ban on validation of degree certificates from the country and Togo, saying 15,000 Nigerian students are in Benin.
The Federal Government banned the validation of degree certificates from the countries.
The NANS president of Benin Republic Ugochukwu Favour said the government should consider legitimately admitted students.
The National Association of Nigerian Students, Benin Republic, has called for leniency over the ban on validation of degree certificates from the country and Togo, saying 15,000 Nigerian students are in Benin.
The Federal Government banned the validation of degree certificates from the countries.
The NANS president of Benin Republic Ugochukwu Favour said the government should consider legitimately admitted students.
France is closing its embassy in Niger indefinitely as tensions between the two countries escalate.
The embassy says it is no longer able to function normally or fulfil its missions" due to restrictions imposed by Niger's military government.
former French ambassador Sylvain Itté says Local embassy staff have also been dismissed.
The embassy had been attacked by thousands of pro-junta protestors shortly after the coup but were dispersed by Nigerien forces before they could enter the building.
Under Mr Bazoum, France had more than 1,500 troops stationed in Niger to help fight jihadist groups linked to both al-Qaeda and Islamic State.
France is closing its embassy in Niger indefinitely as tensions between the two countries escalate.
The embassy says it is no longer able to function normally or fulfil its missions" due to restrictions imposed by Niger's military government.
former French ambassador Sylvain Itté says Local embassy staff have also been dismissed.
The embassy had been attacked by thousands of pro-junta protestors shortly after the coup but were dispersed by Nigerien forces before they could enter the building.
Under Mr Bazoum, France had more than 1,500 troops stationed in Niger to help fight jihadist groups linked to both al-Qaeda and Islamic State.
France is closing its embassy in Niger indefinitely as tensions between the two countries escalate.
The embassy says it is no longer able to function normally or fulfil its missions" due to restrictions imposed by Niger's military government.
former French ambassador Sylvain Itté says Local embassy staff have also been dismissed.
The embassy had been attacked by thousands of pro-junta protestors shortly after the coup but were dispersed by Nigerien forces before they could enter the building.
Under Mr Bazoum, France had more than 1,500 troops stationed in Niger to help fight jihadist groups linked to both al-Qaeda and Islamic State.
France is closing its embassy in Niger indefinitely as tensions between the two countries escalate.
The embassy says it is no longer able to function normally or fulfil its missions" due to restrictions imposed by Niger's military government.
former French ambassador Sylvain Itté says Local embassy staff have also been dismissed.
The embassy had been attacked by thousands of pro-junta protestors shortly after the coup but were dispersed by Nigerien forces before they could enter the building.
Under Mr Bazoum, France had more than 1,500 troops stationed in Niger to help fight jihadist groups linked to both al-Qaeda and Islamic State.
France is closing its embassy in Niger indefinitely as tensions between the two countries escalate.
The embassy says it is no longer able to function normally or fulfil its missions" due to restrictions imposed by Niger's military government.
former French ambassador Sylvain Itté says Local embassy staff have also been dismissed.
The embassy had been attacked by thousands of pro-junta protestors shortly after the coup but were dispersed by Nigerien forces before they could enter the building.
Under Mr Bazoum, France had more than 1,500 troops stationed in Niger to help fight jihadist groups linked to both al-Qaeda and Islamic State.
France is closing its embassy in Niger indefinitely as tensions between the two countries escalate.
The embassy says it is no longer able to function normally or fulfil its missions" due to restrictions imposed by Niger's military government.
former French ambassador Sylvain Itté says Local embassy staff have also been dismissed.
The embassy had been attacked by thousands of pro-junta protestors shortly after the coup but were dispersed by Nigerien forces before they could enter the building.
Under Mr Bazoum, France had more than 1,500 troops stationed in Niger to help fight jihadist groups linked to both al-Qaeda and Islamic State.
The Abuja Chamber of Commerce and Industry called on the federal and state governments to streamline the various tax policies being implemented in their respective domains.
ACCI’s newly elected President, Chief Emeka Obegolu, SAN, says although the payment tax is considered a civic duty, its remittance is a significant source of revenue generation that helps the government to meet its statutory obligations.
He says the multiplicity and duplication of taxes by government agencies have turned it into a clog in the wheel of progress for companies, micro, small and medium-scale businesses struggling to survive amid worsening economic conditions and unfriendly operating environment.
He appealed to the government at all levels to prioritise the provision of essential infrastructure, streamline tax policies, and enhance the ease of conducting business.
The Abuja Chamber of Commerce and Industry called on the federal and state governments to streamline the various tax policies being implemented in their respective domains.
ACCI’s newly elected President, Chief Emeka Obegolu, SAN, says although the payment tax is considered a civic duty, its remittance is a significant source of revenue generation that helps the government to meet its statutory obligations.
He says the multiplicity and duplication of taxes by government agencies have turned it into a clog in the wheel of progress for companies, micro, small and medium-scale businesses struggling to survive amid worsening economic conditions and unfriendly operating environment.
He appealed to the government at all levels to prioritise the provision of essential infrastructure, streamline tax policies, and enhance the ease of conducting business.
The Abuja Chamber of Commerce and Industry called on the federal and state governments to streamline the various tax policies being implemented in their respective domains.
ACCI’s newly elected President, Chief Emeka Obegolu, SAN, says although the payment tax is considered a civic duty, its remittance is a significant source of revenue generation that helps the government to meet its statutory obligations.
He says the multiplicity and duplication of taxes by government agencies have turned it into a clog in the wheel of progress for companies, micro, small and medium-scale businesses struggling to survive amid worsening economic conditions and unfriendly operating environment.
He appealed to the government at all levels to prioritise the provision of essential infrastructure, streamline tax policies, and enhance the ease of conducting business.
The Abuja Chamber of Commerce and Industry called on the federal and state governments to streamline the various tax policies being implemented in their respective domains.
ACCI’s newly elected President, Chief Emeka Obegolu, SAN, says although the payment tax is considered a civic duty, its remittance is a significant source of revenue generation that helps the government to meet its statutory obligations.
He says the multiplicity and duplication of taxes by government agencies have turned it into a clog in the wheel of progress for companies, micro, small and medium-scale businesses struggling to survive amid worsening economic conditions and unfriendly operating environment.
He appealed to the government at all levels to prioritise the provision of essential infrastructure, streamline tax policies, and enhance the ease of conducting business.
The Abuja Chamber of Commerce and Industry called on the federal and state governments to streamline the various tax policies being implemented in their respective domains.
ACCI’s newly elected President, Chief Emeka Obegolu, SAN, says although the payment tax is considered a civic duty, its remittance is a significant source of revenue generation that helps the government to meet its statutory obligations.
He says the multiplicity and duplication of taxes by government agencies have turned it into a clog in the wheel of progress for companies, micro, small and medium-scale businesses struggling to survive amid worsening economic conditions and unfriendly operating environment.
He appealed to the government at all levels to prioritise the provision of essential infrastructure, streamline tax policies, and enhance the ease of conducting business.
The Abuja Chamber of Commerce and Industry called on the federal and state governments to streamline the various tax policies being implemented in their respective domains.
ACCI’s newly elected President, Chief Emeka Obegolu, SAN, says although the payment tax is considered a civic duty, its remittance is a significant source of revenue generation that helps the government to meet its statutory obligations.
He says the multiplicity and duplication of taxes by government agencies have turned it into a clog in the wheel of progress for companies, micro, small and medium-scale businesses struggling to survive amid worsening economic conditions and unfriendly operating environment.
He appealed to the government at all levels to prioritise the provision of essential infrastructure, streamline tax policies, and enhance the ease of conducting business.
The Home Finance Department of the Ministry of Finance, Budget and National Planning has received the sum of $5.6m from the World Bank to procure 21 items, which included office stationeries, furniture, solar inverters, office equipment, and vehicles.
The SFTAS project was designed to strengthen transparency and accountability at the sub-national level and ended in 2022.
The procurement plan is in line with the World Bank’s Procurement Guidelines which establish the arrangements to be made for procuring the goods and works (including related services) required for a project.
The Home Finance Department received $25,713 to acquire office stationery and supplies.
The Home Finance Department of the Ministry of Finance, Budget and National Planning has received the sum of $5.6m from the World Bank to procure 21 items, which included office stationeries, furniture, solar inverters, office equipment, and vehicles.
The SFTAS project was designed to strengthen transparency and accountability at the sub-national level and ended in 2022.
The procurement plan is in line with the World Bank’s Procurement Guidelines which establish the arrangements to be made for procuring the goods and works (including related services) required for a project.
The Home Finance Department received $25,713 to acquire office stationery and supplies.
The Home Finance Department of the Ministry of Finance, Budget and National Planning has received the sum of $5.6m from the World Bank to procure 21 items, which included office stationeries, furniture, solar inverters, office equipment, and vehicles.
The SFTAS project was designed to strengthen transparency and accountability at the sub-national level and ended in 2022.
The procurement plan is in line with the World Bank’s Procurement Guidelines which establish the arrangements to be made for procuring the goods and works (including related services) required for a project.
The Home Finance Department received $25,713 to acquire office stationery and supplies.
The Home Finance Department of the Ministry of Finance, Budget and National Planning has received the sum of $5.6m from the World Bank to procure 21 items, which included office stationeries, furniture, solar inverters, office equipment, and vehicles.
The SFTAS project was designed to strengthen transparency and accountability at the sub-national level and ended in 2022.
The procurement plan is in line with the World Bank’s Procurement Guidelines which establish the arrangements to be made for procuring the goods and works (including related services) required for a project.
The Home Finance Department received $25,713 to acquire office stationery and supplies.
The Home Finance Department of the Ministry of Finance, Budget and National Planning has received the sum of $5.6m from the World Bank to procure 21 items, which included office stationeries, furniture, solar inverters, office equipment, and vehicles.
The SFTAS project was designed to strengthen transparency and accountability at the sub-national level and ended in 2022.
The procurement plan is in line with the World Bank’s Procurement Guidelines which establish the arrangements to be made for procuring the goods and works (including related services) required for a project.
The Home Finance Department received $25,713 to acquire office stationery and supplies.
The Home Finance Department of the Ministry of Finance, Budget and National Planning has received the sum of $5.6m from the World Bank to procure 21 items, which included office stationeries, furniture, solar inverters, office equipment, and vehicles.
The SFTAS project was designed to strengthen transparency and accountability at the sub-national level and ended in 2022.
The procurement plan is in line with the World Bank’s Procurement Guidelines which establish the arrangements to be made for procuring the goods and works (including related services) required for a project.
The Home Finance Department received $25,713 to acquire office stationery and supplies.
Ukraine has received a vital $1.34bn in funds from the World Bank.
Ukraine’s Ministry of Finance says the funding has been paid out to support non-security related financial and economic stability.
The cash boost will be welcomed by Kyiv, which warns that its ability to defend against the Russian invasion could soon be impacted by delays in funding from the United States and the European Union.
The ministry noted that the financing, which is the Sixth Additional Financing under its Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE) project, consisted of a $1.086bn loan from the World Bank, a $190m grant from Norway, a $50m grant from the United States and a $20m grant from Switzerland.
Ukraine has received a vital $1.34bn in funds from the World Bank.
Ukraine’s Ministry of Finance says the funding has been paid out to support non-security related financial and economic stability.
The cash boost will be welcomed by Kyiv, which warns that its ability to defend against the Russian invasion could soon be impacted by delays in funding from the United States and the European Union.
The ministry noted that the financing, which is the Sixth Additional Financing under its Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE) project, consisted of a $1.086bn loan from the World Bank, a $190m grant from Norway, a $50m grant from the United States and a $20m grant from Switzerland.
Ukraine has received a vital $1.34bn in funds from the World Bank.
Ukraine’s Ministry of Finance says the funding has been paid out to support non-security related financial and economic stability.
The cash boost will be welcomed by Kyiv, which warns that its ability to defend against the Russian invasion could soon be impacted by delays in funding from the United States and the European Union.
The ministry noted that the financing, which is the Sixth Additional Financing under its Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE) project, consisted of a $1.086bn loan from the World Bank, a $190m grant from Norway, a $50m grant from the United States and a $20m grant from Switzerland.
Ukraine has received a vital $1.34bn in funds from the World Bank.
Ukraine’s Ministry of Finance says the funding has been paid out to support non-security related financial and economic stability.
The cash boost will be welcomed by Kyiv, which warns that its ability to defend against the Russian invasion could soon be impacted by delays in funding from the United States and the European Union.
The ministry noted that the financing, which is the Sixth Additional Financing under its Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE) project, consisted of a $1.086bn loan from the World Bank, a $190m grant from Norway, a $50m grant from the United States and a $20m grant from Switzerland.
Ukraine has received a vital $1.34bn in funds from the World Bank.
Ukraine’s Ministry of Finance says the funding has been paid out to support non-security related financial and economic stability.
The cash boost will be welcomed by Kyiv, which warns that its ability to defend against the Russian invasion could soon be impacted by delays in funding from the United States and the European Union.
The ministry noted that the financing, which is the Sixth Additional Financing under its Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE) project, consisted of a $1.086bn loan from the World Bank, a $190m grant from Norway, a $50m grant from the United States and a $20m grant from Switzerland.
Ukraine has received a vital $1.34bn in funds from the World Bank.
Ukraine’s Ministry of Finance says the funding has been paid out to support non-security related financial and economic stability.
The cash boost will be welcomed by Kyiv, which warns that its ability to defend against the Russian invasion could soon be impacted by delays in funding from the United States and the European Union.
The ministry noted that the financing, which is the Sixth Additional Financing under its Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE) project, consisted of a $1.086bn loan from the World Bank, a $190m grant from Norway, a $50m grant from the United States and a $20m grant from Switzerland.
The Special CBN Investigator, Jim Obazee, has summoned the Chairman of Titan Trust Bank, Babatunde Lemo, in connection with the acquisition of Union Bank of Nigeria Plc by TTB.
Obazee had in his report alleged that some persons were used as proxies by a former CBN Governor, Godwin Emefiele, to set up Titan Trust Bank and acquire Union Bank.
The Special Investigator also alleged that Emefiele used proxies to acquire Keystone Bank without evidence of payment.
Lemo however insisted that the acquisition of the bank followed due process and met all regulatory requirements, including that of the Securities and Exchange Commission and the Central Bank of Nigeria.
He insisted that the establishment of Titan Trust Bank and the subsequent acquisition of Union Bank were transparent and duly verified by the relevant regulatory bodies.
The Special CBN Investigator, Jim Obazee, has summoned the Chairman of Titan Trust Bank, Babatunde Lemo, in connection with the acquisition of Union Bank of Nigeria Plc by TTB.
Obazee had in his report alleged that some persons were used as proxies by a former CBN Governor, Godwin Emefiele, to set up Titan Trust Bank and acquire Union Bank.
The Special Investigator also alleged that Emefiele used proxies to acquire Keystone Bank without evidence of payment.
Lemo however insisted that the acquisition of the bank followed due process and met all regulatory requirements, including that of the Securities and Exchange Commission and the Central Bank of Nigeria.
He insisted that the establishment of Titan Trust Bank and the subsequent acquisition of Union Bank were transparent and duly verified by the relevant regulatory bodies.
The Special CBN Investigator, Jim Obazee, has summoned the Chairman of Titan Trust Bank, Babatunde Lemo, in connection with the acquisition of Union Bank of Nigeria Plc by TTB.
Obazee had in his report alleged that some persons were used as proxies by a former CBN Governor, Godwin Emefiele, to set up Titan Trust Bank and acquire Union Bank.
The Special Investigator also alleged that Emefiele used proxies to acquire Keystone Bank without evidence of payment.
Lemo however insisted that the acquisition of the bank followed due process and met all regulatory requirements, including that of the Securities and Exchange Commission and the Central Bank of Nigeria.
He insisted that the establishment of Titan Trust Bank and the subsequent acquisition of Union Bank were transparent and duly verified by the relevant regulatory bodies.
The Special CBN Investigator, Jim Obazee, has summoned the Chairman of Titan Trust Bank, Babatunde Lemo, in connection with the acquisition of Union Bank of Nigeria Plc by TTB.
Obazee had in his report alleged that some persons were used as proxies by a former CBN Governor, Godwin Emefiele, to set up Titan Trust Bank and acquire Union Bank.
The Special Investigator also alleged that Emefiele used proxies to acquire Keystone Bank without evidence of payment.
Lemo however insisted that the acquisition of the bank followed due process and met all regulatory requirements, including that of the Securities and Exchange Commission and the Central Bank of Nigeria.
He insisted that the establishment of Titan Trust Bank and the subsequent acquisition of Union Bank were transparent and duly verified by the relevant regulatory bodies.
The Special CBN Investigator, Jim Obazee, has summoned the Chairman of Titan Trust Bank, Babatunde Lemo, in connection with the acquisition of Union Bank of Nigeria Plc by TTB.
Obazee had in his report alleged that some persons were used as proxies by a former CBN Governor, Godwin Emefiele, to set up Titan Trust Bank and acquire Union Bank.
The Special Investigator also alleged that Emefiele used proxies to acquire Keystone Bank without evidence of payment.
Lemo however insisted that the acquisition of the bank followed due process and met all regulatory requirements, including that of the Securities and Exchange Commission and the Central Bank of Nigeria.
He insisted that the establishment of Titan Trust Bank and the subsequent acquisition of Union Bank were transparent and duly verified by the relevant regulatory bodies.
The Special CBN Investigator, Jim Obazee, has summoned the Chairman of Titan Trust Bank, Babatunde Lemo, in connection with the acquisition of Union Bank of Nigeria Plc by TTB.
Obazee had in his report alleged that some persons were used as proxies by a former CBN Governor, Godwin Emefiele, to set up Titan Trust Bank and acquire Union Bank.
The Special Investigator also alleged that Emefiele used proxies to acquire Keystone Bank without evidence of payment.
Lemo however insisted that the acquisition of the bank followed due process and met all regulatory requirements, including that of the Securities and Exchange Commission and the Central Bank of Nigeria.
He insisted that the establishment of Titan Trust Bank and the subsequent acquisition of Union Bank were transparent and duly verified by the relevant regulatory bodies.
A judge in Alabama will decide if a new method of execution using pure nitrogen gas can be used for the first time.
Two other states are considering the method as an alternative to lethal injections, after a spate of botched executions in the US.
But lawyers for Kenneth Eugene Smith, convicted of a 1988 murder, argued the method was unconstitutionally cruel.
They urged the judge to block his 25 January execution using nitrogen hypoxia.
According to Alabama's execution protocol, the nitrogen would be administered for at least 15 minutes or five minutes following a flatline indication on the EKG, whichever is longer.
A judge in Alabama will decide if a new method of execution using pure nitrogen gas can be used for the first time.
Two other states are considering the method as an alternative to lethal injections, after a spate of botched executions in the US.
But lawyers for Kenneth Eugene Smith, convicted of a 1988 murder, argued the method was unconstitutionally cruel.
They urged the judge to block his 25 January execution using nitrogen hypoxia.
According to Alabama's execution protocol, the nitrogen would be administered for at least 15 minutes or five minutes following a flatline indication on the EKG, whichever is longer.
A judge in Alabama will decide if a new method of execution using pure nitrogen gas can be used for the first time.
Two other states are considering the method as an alternative to lethal injections, after a spate of botched executions in the US.
But lawyers for Kenneth Eugene Smith, convicted of a 1988 murder, argued the method was unconstitutionally cruel.
They urged the judge to block his 25 January execution using nitrogen hypoxia.
According to Alabama's execution protocol, the nitrogen would be administered for at least 15 minutes or five minutes following a flatline indication on the EKG, whichever is longer.
A judge in Alabama will decide if a new method of execution using pure nitrogen gas can be used for the first time.
Two other states are considering the method as an alternative to lethal injections, after a spate of botched executions in the US.
But lawyers for Kenneth Eugene Smith, convicted of a 1988 murder, argued the method was unconstitutionally cruel.
They urged the judge to block his 25 January execution using nitrogen hypoxia.
According to Alabama's execution protocol, the nitrogen would be administered for at least 15 minutes or five minutes following a flatline indication on the EKG, whichever is longer.
A judge in Alabama will decide if a new method of execution using pure nitrogen gas can be used for the first time.
Two other states are considering the method as an alternative to lethal injections, after a spate of botched executions in the US.
But lawyers for Kenneth Eugene Smith, convicted of a 1988 murder, argued the method was unconstitutionally cruel.
They urged the judge to block his 25 January execution using nitrogen hypoxia.
According to Alabama's execution protocol, the nitrogen would be administered for at least 15 minutes or five minutes following a flatline indication on the EKG, whichever is longer.
A judge in Alabama will decide if a new method of execution using pure nitrogen gas can be used for the first time.
Two other states are considering the method as an alternative to lethal injections, after a spate of botched executions in the US.
But lawyers for Kenneth Eugene Smith, convicted of a 1988 murder, argued the method was unconstitutionally cruel.
They urged the judge to block his 25 January execution using nitrogen hypoxia.
According to Alabama's execution protocol, the nitrogen would be administered for at least 15 minutes or five minutes following a flatline indication on the EKG, whichever is longer.
Rudy Giuliani, a longtime associate of former President Donald Trump, has filed for bankruptcy just days after he was ordered to pay $148m in a defamation case.
He was ordered to pay the sum after a judge found he defamed two Georgia election workers over false claims they tampered with votes in 2020.
The filing shows he owes millions of dollars in legal fees and unpaid taxes.
The spokesman for Mr Giuliani, Ted Goodman, says no person could have reasonably believed that Mr Giuliani would be able to pay such a high punitive amount.
He added that the bankruptcy filing in New York would give Mr Giuliani the opportunity and time to pursue an appeal while providing transparency for his finances under the supervision of the bankruptcy court.
Rudy Giuliani, a longtime associate of former President Donald Trump, has filed for bankruptcy just days after he was ordered to pay $148m in a defamation case.
He was ordered to pay the sum after a judge found he defamed two Georgia election workers over false claims they tampered with votes in 2020.
The filing shows he owes millions of dollars in legal fees and unpaid taxes.
The spokesman for Mr Giuliani, Ted Goodman, says no person could have reasonably believed that Mr Giuliani would be able to pay such a high punitive amount.
He added that the bankruptcy filing in New York would give Mr Giuliani the opportunity and time to pursue an appeal while providing transparency for his finances under the supervision of the bankruptcy court.
Rudy Giuliani, a longtime associate of former President Donald Trump, has filed for bankruptcy just days after he was ordered to pay $148m in a defamation case.
He was ordered to pay the sum after a judge found he defamed two Georgia election workers over false claims they tampered with votes in 2020.
The filing shows he owes millions of dollars in legal fees and unpaid taxes.
The spokesman for Mr Giuliani, Ted Goodman, says no person could have reasonably believed that Mr Giuliani would be able to pay such a high punitive amount.
He added that the bankruptcy filing in New York would give Mr Giuliani the opportunity and time to pursue an appeal while providing transparency for his finances under the supervision of the bankruptcy court.
Rudy Giuliani, a longtime associate of former President Donald Trump, has filed for bankruptcy just days after he was ordered to pay $148m in a defamation case.
He was ordered to pay the sum after a judge found he defamed two Georgia election workers over false claims they tampered with votes in 2020.
The filing shows he owes millions of dollars in legal fees and unpaid taxes.
The spokesman for Mr Giuliani, Ted Goodman, says no person could have reasonably believed that Mr Giuliani would be able to pay such a high punitive amount.
He added that the bankruptcy filing in New York would give Mr Giuliani the opportunity and time to pursue an appeal while providing transparency for his finances under the supervision of the bankruptcy court.
Rudy Giuliani, a longtime associate of former President Donald Trump, has filed for bankruptcy just days after he was ordered to pay $148m in a defamation case.
He was ordered to pay the sum after a judge found he defamed two Georgia election workers over false claims they tampered with votes in 2020.
The filing shows he owes millions of dollars in legal fees and unpaid taxes.
The spokesman for Mr Giuliani, Ted Goodman, says no person could have reasonably believed that Mr Giuliani would be able to pay such a high punitive amount.
He added that the bankruptcy filing in New York would give Mr Giuliani the opportunity and time to pursue an appeal while providing transparency for his finances under the supervision of the bankruptcy court.
Rudy Giuliani, a longtime associate of former President Donald Trump, has filed for bankruptcy just days after he was ordered to pay $148m in a defamation case.
He was ordered to pay the sum after a judge found he defamed two Georgia election workers over false claims they tampered with votes in 2020.
The filing shows he owes millions of dollars in legal fees and unpaid taxes.
The spokesman for Mr Giuliani, Ted Goodman, says no person could have reasonably believed that Mr Giuliani would be able to pay such a high punitive amount.
He added that the bankruptcy filing in New York would give Mr Giuliani the opportunity and time to pursue an appeal while providing transparency for his finances under the supervision of the bankruptcy court.
Egypt says countries with access to the Red Sea have a responsibility to protect it and provide suitable conditions for freedom of navigation.
The US announced a 10-member coalition called Operation Prosperity to protect merchant shipping in the Red Sea from intensifying attacks by Houthi rebels based in Yemen.
However, Egypt and Saudi Arabia have not joined the US-led coalition.
Greece says it would send a naval frigate there to protect shipping.
Egypt says countries with access to the Red Sea have a responsibility to protect it and provide suitable conditions for freedom of navigation.
The US announced a 10-member coalition called Operation Prosperity to protect merchant shipping in the Red Sea from intensifying attacks by Houthi rebels based in Yemen.
However, Egypt and Saudi Arabia have not joined the US-led coalition.
Greece says it would send a naval frigate there to protect shipping.
Egypt says countries with access to the Red Sea have a responsibility to protect it and provide suitable conditions for freedom of navigation.
The US announced a 10-member coalition called Operation Prosperity to protect merchant shipping in the Red Sea from intensifying attacks by Houthi rebels based in Yemen.
However, Egypt and Saudi Arabia have not joined the US-led coalition.
Greece says it would send a naval frigate there to protect shipping.
Egypt says countries with access to the Red Sea have a responsibility to protect it and provide suitable conditions for freedom of navigation.
The US announced a 10-member coalition called Operation Prosperity to protect merchant shipping in the Red Sea from intensifying attacks by Houthi rebels based in Yemen.
However, Egypt and Saudi Arabia have not joined the US-led coalition.
Greece says it would send a naval frigate there to protect shipping.
Egypt says countries with access to the Red Sea have a responsibility to protect it and provide suitable conditions for freedom of navigation.
The US announced a 10-member coalition called Operation Prosperity to protect merchant shipping in the Red Sea from intensifying attacks by Houthi rebels based in Yemen.
However, Egypt and Saudi Arabia have not joined the US-led coalition.
Greece says it would send a naval frigate there to protect shipping.
Egypt says countries with access to the Red Sea have a responsibility to protect it and provide suitable conditions for freedom of navigation.
The US announced a 10-member coalition called Operation Prosperity to protect merchant shipping in the Red Sea from intensifying attacks by Houthi rebels based in Yemen.
However, Egypt and Saudi Arabia have not joined the US-led coalition.
Greece says it would send a naval frigate there to protect shipping.
Angola has announced it is leaving the oil producers' organisation Opec over a dispute on output quotas.
Angola currently produces about 1.1 million barrels per day, of the 30 million from the whole of Opec.
Oil prices fell on the news, with Brent prices down over $1 to $78.5 a barrel by 12:50.
Mineral Resources and Petroleum Minister Diamantino Azevedo says at the moment Angola gains nothing by remaining in the organisation and, in defence of its interests, it decided to leave.
The minister added that the decision was not taken lightly.
Angola has announced it is leaving the oil producers' organisation Opec over a dispute on output quotas.
Angola currently produces about 1.1 million barrels per day, of the 30 million from the whole of Opec.
Oil prices fell on the news, with Brent prices down over $1 to $78.5 a barrel by 12:50.
Mineral Resources and Petroleum Minister Diamantino Azevedo says at the moment Angola gains nothing by remaining in the organisation and, in defence of its interests, it decided to leave.
The minister added that the decision was not taken lightly.
Angola has announced it is leaving the oil producers' organisation Opec over a dispute on output quotas.
Angola currently produces about 1.1 million barrels per day, of the 30 million from the whole of Opec.
Oil prices fell on the news, with Brent prices down over $1 to $78.5 a barrel by 12:50.
Mineral Resources and Petroleum Minister Diamantino Azevedo says at the moment Angola gains nothing by remaining in the organisation and, in defence of its interests, it decided to leave.
The minister added that the decision was not taken lightly.
Angola has announced it is leaving the oil producers' organisation Opec over a dispute on output quotas.
Angola currently produces about 1.1 million barrels per day, of the 30 million from the whole of Opec.
Oil prices fell on the news, with Brent prices down over $1 to $78.5 a barrel by 12:50.
Mineral Resources and Petroleum Minister Diamantino Azevedo says at the moment Angola gains nothing by remaining in the organisation and, in defence of its interests, it decided to leave.
The minister added that the decision was not taken lightly.
Angola has announced it is leaving the oil producers' organisation Opec over a dispute on output quotas.
Angola currently produces about 1.1 million barrels per day, of the 30 million from the whole of Opec.
Oil prices fell on the news, with Brent prices down over $1 to $78.5 a barrel by 12:50.
Mineral Resources and Petroleum Minister Diamantino Azevedo says at the moment Angola gains nothing by remaining in the organisation and, in defence of its interests, it decided to leave.
The minister added that the decision was not taken lightly.
Angola has announced it is leaving the oil producers' organisation Opec over a dispute on output quotas.
Angola currently produces about 1.1 million barrels per day, of the 30 million from the whole of Opec.
Oil prices fell on the news, with Brent prices down over $1 to $78.5 a barrel by 12:50.
Mineral Resources and Petroleum Minister Diamantino Azevedo says at the moment Angola gains nothing by remaining in the organisation and, in defence of its interests, it decided to leave.
The minister added that the decision was not taken lightly.
The House of Representatives has called for the adoption of the Chinese Yuan as an official foreign exchange reserve currency with other internationally recognised currencies to protect the naira from further depreciation.
Member representing Bogoro/Dass/Tafawa Balewa Federal Constituency, Bauchi State, Jafaru Leko, noted that the Nigerian economy was experiencing substantial shifts in the value of the naira, triggering economic instability and uncertainty.
He also noted that the International Monetary Fund proposed diversification of foreign exchange reserves for central banks of developing countries, including Nigeria.
He says the global economic landscape was evolving, and international trade dynamics were shifting, with China assuming a leading role in international trade
The House of Representatives has called for the adoption of the Chinese Yuan as an official foreign exchange reserve currency with other internationally recognised currencies to protect the naira from further depreciation.
Member representing Bogoro/Dass/Tafawa Balewa Federal Constituency, Bauchi State, Jafaru Leko, noted that the Nigerian economy was experiencing substantial shifts in the value of the naira, triggering economic instability and uncertainty.
He also noted that the International Monetary Fund proposed diversification of foreign exchange reserves for central banks of developing countries, including Nigeria.
He says the global economic landscape was evolving, and international trade dynamics were shifting, with China assuming a leading role in international trade
The House of Representatives has called for the adoption of the Chinese Yuan as an official foreign exchange reserve currency with other internationally recognised currencies to protect the naira from further depreciation.
Member representing Bogoro/Dass/Tafawa Balewa Federal Constituency, Bauchi State, Jafaru Leko, noted that the Nigerian economy was experiencing substantial shifts in the value of the naira, triggering economic instability and uncertainty.
He also noted that the International Monetary Fund proposed diversification of foreign exchange reserves for central banks of developing countries, including Nigeria.
He says the global economic landscape was evolving, and international trade dynamics were shifting, with China assuming a leading role in international trade
The House of Representatives has called for the adoption of the Chinese Yuan as an official foreign exchange reserve currency with other internationally recognised currencies to protect the naira from further depreciation.
Member representing Bogoro/Dass/Tafawa Balewa Federal Constituency, Bauchi State, Jafaru Leko, noted that the Nigerian economy was experiencing substantial shifts in the value of the naira, triggering economic instability and uncertainty.
He also noted that the International Monetary Fund proposed diversification of foreign exchange reserves for central banks of developing countries, including Nigeria.
He says the global economic landscape was evolving, and international trade dynamics were shifting, with China assuming a leading role in international trade
The House of Representatives has called for the adoption of the Chinese Yuan as an official foreign exchange reserve currency with other internationally recognised currencies to protect the naira from further depreciation.
Member representing Bogoro/Dass/Tafawa Balewa Federal Constituency, Bauchi State, Jafaru Leko, noted that the Nigerian economy was experiencing substantial shifts in the value of the naira, triggering economic instability and uncertainty.
He also noted that the International Monetary Fund proposed diversification of foreign exchange reserves for central banks of developing countries, including Nigeria.
He says the global economic landscape was evolving, and international trade dynamics were shifting, with China assuming a leading role in international trade
The House of Representatives has called for the adoption of the Chinese Yuan as an official foreign exchange reserve currency with other internationally recognised currencies to protect the naira from further depreciation.
Member representing Bogoro/Dass/Tafawa Balewa Federal Constituency, Bauchi State, Jafaru Leko, noted that the Nigerian economy was experiencing substantial shifts in the value of the naira, triggering economic instability and uncertainty.
He also noted that the International Monetary Fund proposed diversification of foreign exchange reserves for central banks of developing countries, including Nigeria.
He says the global economic landscape was evolving, and international trade dynamics were shifting, with China assuming a leading role in international trade
The Federal Government will inaugurate Amal Technology’s production facility for Gas Leak Detection Devices and Printed Circuit Boards in Idu, Abuja.
Nigerian Content Development and Monitoring Board noted that the homegrown innovation was initiated by Amal Technologies Limited with its support under its research & development innovation intervention.
The board says its Research and Development Framework facilitates ideas to market and provides institutional and funding support for market-driven research.
It added that it also supported the commercialisation of breakthrough innovations with high market prospects.
The Federal Government will inaugurate Amal Technology’s production facility for Gas Leak Detection Devices and Printed Circuit Boards in Idu, Abuja.
Nigerian Content Development and Monitoring Board noted that the homegrown innovation was initiated by Amal Technologies Limited with its support under its research & development innovation intervention.
The board says its Research and Development Framework facilitates ideas to market and provides institutional and funding support for market-driven research.
It added that it also supported the commercialisation of breakthrough innovations with high market prospects.
The Federal Government will inaugurate Amal Technology’s production facility for Gas Leak Detection Devices and Printed Circuit Boards in Idu, Abuja.
Nigerian Content Development and Monitoring Board noted that the homegrown innovation was initiated by Amal Technologies Limited with its support under its research & development innovation intervention.
The board says its Research and Development Framework facilitates ideas to market and provides institutional and funding support for market-driven research.
It added that it also supported the commercialisation of breakthrough innovations with high market prospects.
The Federal Government will inaugurate Amal Technology’s production facility for Gas Leak Detection Devices and Printed Circuit Boards in Idu, Abuja.
Nigerian Content Development and Monitoring Board noted that the homegrown innovation was initiated by Amal Technologies Limited with its support under its research & development innovation intervention.
The board says its Research and Development Framework facilitates ideas to market and provides institutional and funding support for market-driven research.
It added that it also supported the commercialisation of breakthrough innovations with high market prospects.
The Federal Government will inaugurate Amal Technology’s production facility for Gas Leak Detection Devices and Printed Circuit Boards in Idu, Abuja.
Nigerian Content Development and Monitoring Board noted that the homegrown innovation was initiated by Amal Technologies Limited with its support under its research & development innovation intervention.
The board says its Research and Development Framework facilitates ideas to market and provides institutional and funding support for market-driven research.
It added that it also supported the commercialisation of breakthrough innovations with high market prospects.
The Federal Government will inaugurate Amal Technology’s production facility for Gas Leak Detection Devices and Printed Circuit Boards in Idu, Abuja.
Nigerian Content Development and Monitoring Board noted that the homegrown innovation was initiated by Amal Technologies Limited with its support under its research & development innovation intervention.
The board says its Research and Development Framework facilitates ideas to market and provides institutional and funding support for market-driven research.
It added that it also supported the commercialisation of breakthrough innovations with high market prospects.
The Process and Industrial Development (P&ID) has lost its final appeal against Nigeria in an eleven-billion-dollar arbitration case.
The P&ID sought to overturn an October judgement by a London High Court that halted the enforcement for damages over a failed gas processing project.
Judge Robin Knowles rejected P&ID’s argument that the case should be returned for arbitration and affirmed that the damages award should be thrown out completely.
The judge had found out that P&ID paid bribes to Nigerian officials who were part of the drafting of the gas supply and processing agreement in 2010.
Nigeria had urged the court to set the award aside, saying that some individuals in the case were being tried for money laundering and graft.
The Process and Industrial Development (P&ID) has lost its final appeal against Nigeria in an eleven-billion-dollar arbitration case.
The P&ID sought to overturn an October judgement by a London High Court that halted the enforcement for damages over a failed gas processing project.
Judge Robin Knowles rejected P&ID’s argument that the case should be returned for arbitration and affirmed that the damages award should be thrown out completely.
The judge had found out that P&ID paid bribes to Nigerian officials who were part of the drafting of the gas supply and processing agreement in 2010.
Nigeria had urged the court to set the award aside, saying that some individuals in the case were being tried for money laundering and graft.
The Process and Industrial Development (P&ID) has lost its final appeal against Nigeria in an eleven-billion-dollar arbitration case.
The P&ID sought to overturn an October judgement by a London High Court that halted the enforcement for damages over a failed gas processing project.
Judge Robin Knowles rejected P&ID’s argument that the case should be returned for arbitration and affirmed that the damages award should be thrown out completely.
The judge had found out that P&ID paid bribes to Nigerian officials who were part of the drafting of the gas supply and processing agreement in 2010.
Nigeria had urged the court to set the award aside, saying that some individuals in the case were being tried for money laundering and graft.
The Process and Industrial Development (P&ID) has lost its final appeal against Nigeria in an eleven-billion-dollar arbitration case.
The P&ID sought to overturn an October judgement by a London High Court that halted the enforcement for damages over a failed gas processing project.
Judge Robin Knowles rejected P&ID’s argument that the case should be returned for arbitration and affirmed that the damages award should be thrown out completely.
The judge had found out that P&ID paid bribes to Nigerian officials who were part of the drafting of the gas supply and processing agreement in 2010.
Nigeria had urged the court to set the award aside, saying that some individuals in the case were being tried for money laundering and graft.
The Process and Industrial Development (P&ID) has lost its final appeal against Nigeria in an eleven-billion-dollar arbitration case.
The P&ID sought to overturn an October judgement by a London High Court that halted the enforcement for damages over a failed gas processing project.
Judge Robin Knowles rejected P&ID’s argument that the case should be returned for arbitration and affirmed that the damages award should be thrown out completely.
The judge had found out that P&ID paid bribes to Nigerian officials who were part of the drafting of the gas supply and processing agreement in 2010.
Nigeria had urged the court to set the award aside, saying that some individuals in the case were being tried for money laundering and graft.
The Process and Industrial Development (P&ID) has lost its final appeal against Nigeria in an eleven-billion-dollar arbitration case.
The P&ID sought to overturn an October judgement by a London High Court that halted the enforcement for damages over a failed gas processing project.
Judge Robin Knowles rejected P&ID’s argument that the case should be returned for arbitration and affirmed that the damages award should be thrown out completely.
The judge had found out that P&ID paid bribes to Nigerian officials who were part of the drafting of the gas supply and processing agreement in 2010.
Nigeria had urged the court to set the award aside, saying that some individuals in the case were being tried for money laundering and graft.
The Senate has passed the bill for an act to amend the 2023 Appropriation Act to extend the implementation year from 31st December 2023 to 31st March 2024.
The upper chamber also passed a bill for an act to amend the 2023 Supplementary Appropriation Act to extend the implementation year from 31st December 2023 to 31st March 2024.
The Senate also confirmed the nomination of the 11 Justices of the Supreme Court.
The upper chamber confirmed them after a debate by the lawmakers who advocated for augmentation of the judiciary budget and also stated the impropriety of leaving a vacuum in the Supreme Court for an extended period before making the appointments.
The Senate has passed the bill for an act to amend the 2023 Appropriation Act to extend the implementation year from 31st December 2023 to 31st March 2024.
The upper chamber also passed a bill for an act to amend the 2023 Supplementary Appropriation Act to extend the implementation year from 31st December 2023 to 31st March 2024.
The Senate also confirmed the nomination of the 11 Justices of the Supreme Court.
The upper chamber confirmed them after a debate by the lawmakers who advocated for augmentation of the judiciary budget and also stated the impropriety of leaving a vacuum in the Supreme Court for an extended period before making the appointments.
The Senate has passed the bill for an act to amend the 2023 Appropriation Act to extend the implementation year from 31st December 2023 to 31st March 2024.
The upper chamber also passed a bill for an act to amend the 2023 Supplementary Appropriation Act to extend the implementation year from 31st December 2023 to 31st March 2024.
The Senate also confirmed the nomination of the 11 Justices of the Supreme Court.
The upper chamber confirmed them after a debate by the lawmakers who advocated for augmentation of the judiciary budget and also stated the impropriety of leaving a vacuum in the Supreme Court for an extended period before making the appointments.
The Senate has passed the bill for an act to amend the 2023 Appropriation Act to extend the implementation year from 31st December 2023 to 31st March 2024.
The upper chamber also passed a bill for an act to amend the 2023 Supplementary Appropriation Act to extend the implementation year from 31st December 2023 to 31st March 2024.
The Senate also confirmed the nomination of the 11 Justices of the Supreme Court.
The upper chamber confirmed them after a debate by the lawmakers who advocated for augmentation of the judiciary budget and also stated the impropriety of leaving a vacuum in the Supreme Court for an extended period before making the appointments.
The Senate has passed the bill for an act to amend the 2023 Appropriation Act to extend the implementation year from 31st December 2023 to 31st March 2024.
The upper chamber also passed a bill for an act to amend the 2023 Supplementary Appropriation Act to extend the implementation year from 31st December 2023 to 31st March 2024.
The Senate also confirmed the nomination of the 11 Justices of the Supreme Court.
The upper chamber confirmed them after a debate by the lawmakers who advocated for augmentation of the judiciary budget and also stated the impropriety of leaving a vacuum in the Supreme Court for an extended period before making the appointments.
The Senate has passed the bill for an act to amend the 2023 Appropriation Act to extend the implementation year from 31st December 2023 to 31st March 2024.
The upper chamber also passed a bill for an act to amend the 2023 Supplementary Appropriation Act to extend the implementation year from 31st December 2023 to 31st March 2024.
The Senate also confirmed the nomination of the 11 Justices of the Supreme Court.
The upper chamber confirmed them after a debate by the lawmakers who advocated for augmentation of the judiciary budget and also stated the impropriety of leaving a vacuum in the Supreme Court for an extended period before making the appointments.
Chileans have rejected a new constitution proposed by conservative delegates that would have affected laws in areas including abortion access, the ability to strike and rights for indigenous people.
The draft was rejected by 56% of voters to 44%, Voters had already rejected a progressive draft last year.
The protesters - many of them left-wing students - called for measures to address inequality and the cost of living crisis, as well as social and political reforms.
Among the criticisms made by left-wing opponents were that it failed to protect indigenous rights, could have allowed restrictions to reproductive rights, and enshrined private sector participation in the provision of services such as health, education, and pensions.
Chileans have rejected a new constitution proposed by conservative delegates that would have affected laws in areas including abortion access, the ability to strike and rights for indigenous people.
The draft was rejected by 56% of voters to 44%, Voters had already rejected a progressive draft last year.
The protesters - many of them left-wing students - called for measures to address inequality and the cost of living crisis, as well as social and political reforms.
Among the criticisms made by left-wing opponents were that it failed to protect indigenous rights, could have allowed restrictions to reproductive rights, and enshrined private sector participation in the provision of services such as health, education, and pensions.
Chileans have rejected a new constitution proposed by conservative delegates that would have affected laws in areas including abortion access, the ability to strike and rights for indigenous people.
The draft was rejected by 56% of voters to 44%, Voters had already rejected a progressive draft last year.
The protesters - many of them left-wing students - called for measures to address inequality and the cost of living crisis, as well as social and political reforms.
Among the criticisms made by left-wing opponents were that it failed to protect indigenous rights, could have allowed restrictions to reproductive rights, and enshrined private sector participation in the provision of services such as health, education, and pensions.
Chileans have rejected a new constitution proposed by conservative delegates that would have affected laws in areas including abortion access, the ability to strike and rights for indigenous people.
The draft was rejected by 56% of voters to 44%, Voters had already rejected a progressive draft last year.
The protesters - many of them left-wing students - called for measures to address inequality and the cost of living crisis, as well as social and political reforms.
Among the criticisms made by left-wing opponents were that it failed to protect indigenous rights, could have allowed restrictions to reproductive rights, and enshrined private sector participation in the provision of services such as health, education, and pensions.
Chileans have rejected a new constitution proposed by conservative delegates that would have affected laws in areas including abortion access, the ability to strike and rights for indigenous people.
The draft was rejected by 56% of voters to 44%, Voters had already rejected a progressive draft last year.
The protesters - many of them left-wing students - called for measures to address inequality and the cost of living crisis, as well as social and political reforms.
Among the criticisms made by left-wing opponents were that it failed to protect indigenous rights, could have allowed restrictions to reproductive rights, and enshrined private sector participation in the provision of services such as health, education, and pensions.
Chileans have rejected a new constitution proposed by conservative delegates that would have affected laws in areas including abortion access, the ability to strike and rights for indigenous people.
The draft was rejected by 56% of voters to 44%, Voters had already rejected a progressive draft last year.
The protesters - many of them left-wing students - called for measures to address inequality and the cost of living crisis, as well as social and political reforms.
Among the criticisms made by left-wing opponents were that it failed to protect indigenous rights, could have allowed restrictions to reproductive rights, and enshrined private sector participation in the provision of services such as health, education, and pensions.
Somali forces have taken over the security of the presidential palace and the federal parliament building in the capital Mogadishu from the African Union mission in the country (Atmis) after 16 years.
President Hassan Sheikh Mohamud praised the national army for taking over the security responsibility of the country’s leaders, saying that the move showed the recovery of the capacity and power of the country's military.
The takeover comes as Somali forces begin to assume responsibilities for the country's security as Atmis troops, who have been fighting al-Shabab and protecting key government installations since 2007, gradually withdraw.
At least 17,000 AU peacekeepers are expected to exit the Horn of Africa nation by the end of next year.
Somali forces have taken over the security of the presidential palace and the federal parliament building in the capital Mogadishu from the African Union mission in the country (Atmis) after 16 years.
President Hassan Sheikh Mohamud praised the national army for taking over the security responsibility of the country’s leaders, saying that the move showed the recovery of the capacity and power of the country's military.
The takeover comes as Somali forces begin to assume responsibilities for the country's security as Atmis troops, who have been fighting al-Shabab and protecting key government installations since 2007, gradually withdraw.
At least 17,000 AU peacekeepers are expected to exit the Horn of Africa nation by the end of next year.
Somali forces have taken over the security of the presidential palace and the federal parliament building in the capital Mogadishu from the African Union mission in the country (Atmis) after 16 years.
President Hassan Sheikh Mohamud praised the national army for taking over the security responsibility of the country’s leaders, saying that the move showed the recovery of the capacity and power of the country's military.
The takeover comes as Somali forces begin to assume responsibilities for the country's security as Atmis troops, who have been fighting al-Shabab and protecting key government installations since 2007, gradually withdraw.
At least 17,000 AU peacekeepers are expected to exit the Horn of Africa nation by the end of next year.
Somali forces have taken over the security of the presidential palace and the federal parliament building in the capital Mogadishu from the African Union mission in the country (Atmis) after 16 years.
President Hassan Sheikh Mohamud praised the national army for taking over the security responsibility of the country’s leaders, saying that the move showed the recovery of the capacity and power of the country's military.
The takeover comes as Somali forces begin to assume responsibilities for the country's security as Atmis troops, who have been fighting al-Shabab and protecting key government installations since 2007, gradually withdraw.
At least 17,000 AU peacekeepers are expected to exit the Horn of Africa nation by the end of next year.
Somali forces have taken over the security of the presidential palace and the federal parliament building in the capital Mogadishu from the African Union mission in the country (Atmis) after 16 years.
President Hassan Sheikh Mohamud praised the national army for taking over the security responsibility of the country’s leaders, saying that the move showed the recovery of the capacity and power of the country's military.
The takeover comes as Somali forces begin to assume responsibilities for the country's security as Atmis troops, who have been fighting al-Shabab and protecting key government installations since 2007, gradually withdraw.
At least 17,000 AU peacekeepers are expected to exit the Horn of Africa nation by the end of next year.
Somali forces have taken over the security of the presidential palace and the federal parliament building in the capital Mogadishu from the African Union mission in the country (Atmis) after 16 years.
President Hassan Sheikh Mohamud praised the national army for taking over the security responsibility of the country’s leaders, saying that the move showed the recovery of the capacity and power of the country's military.
The takeover comes as Somali forces begin to assume responsibilities for the country's security as Atmis troops, who have been fighting al-Shabab and protecting key government installations since 2007, gradually withdraw.
At least 17,000 AU peacekeepers are expected to exit the Horn of Africa nation by the end of next year.
President Yoweri Kaguta Museveni launched the Electronic Investors Protection Portal a digital platform designed to safeguard investment processes in Uganda.
The portal offers guidance to investors through access to authentic government sources.
It will also offer a valuable bridge connecting investors with relevant Ministries, Departments, and Agencies and language translation features to accommodate non-English speaking investors.
President Museveni commended Col. Nakalema for the initiative that has come in handy to support the historical mission of modern societies such as Uganda to create prosperity which in modern times is a result of producing a good or a service and selling it either as an investor or an employee.
President Yoweri Kaguta Museveni launched the Electronic Investors Protection Portal a digital platform designed to safeguard investment processes in Uganda.
The portal offers guidance to investors through access to authentic government sources.
It will also offer a valuable bridge connecting investors with relevant Ministries, Departments, and Agencies and language translation features to accommodate non-English speaking investors.
President Museveni commended Col. Nakalema for the initiative that has come in handy to support the historical mission of modern societies such as Uganda to create prosperity which in modern times is a result of producing a good or a service and selling it either as an investor or an employee.
President Yoweri Kaguta Museveni launched the Electronic Investors Protection Portal a digital platform designed to safeguard investment processes in Uganda.
The portal offers guidance to investors through access to authentic government sources.
It will also offer a valuable bridge connecting investors with relevant Ministries, Departments, and Agencies and language translation features to accommodate non-English speaking investors.
President Museveni commended Col. Nakalema for the initiative that has come in handy to support the historical mission of modern societies such as Uganda to create prosperity which in modern times is a result of producing a good or a service and selling it either as an investor or an employee.
President Yoweri Kaguta Museveni launched the Electronic Investors Protection Portal a digital platform designed to safeguard investment processes in Uganda.
The portal offers guidance to investors through access to authentic government sources.
It will also offer a valuable bridge connecting investors with relevant Ministries, Departments, and Agencies and language translation features to accommodate non-English speaking investors.
President Museveni commended Col. Nakalema for the initiative that has come in handy to support the historical mission of modern societies such as Uganda to create prosperity which in modern times is a result of producing a good or a service and selling it either as an investor or an employee.
President Yoweri Kaguta Museveni launched the Electronic Investors Protection Portal a digital platform designed to safeguard investment processes in Uganda.
The portal offers guidance to investors through access to authentic government sources.
It will also offer a valuable bridge connecting investors with relevant Ministries, Departments, and Agencies and language translation features to accommodate non-English speaking investors.
President Museveni commended Col. Nakalema for the initiative that has come in handy to support the historical mission of modern societies such as Uganda to create prosperity which in modern times is a result of producing a good or a service and selling it either as an investor or an employee.
President Yoweri Kaguta Museveni launched the Electronic Investors Protection Portal a digital platform designed to safeguard investment processes in Uganda.
The portal offers guidance to investors through access to authentic government sources.
It will also offer a valuable bridge connecting investors with relevant Ministries, Departments, and Agencies and language translation features to accommodate non-English speaking investors.
President Museveni commended Col. Nakalema for the initiative that has come in handy to support the historical mission of modern societies such as Uganda to create prosperity which in modern times is a result of producing a good or a service and selling it either as an investor or an employee.
Sudan's foreign affairs ministry has ordered three Chadian diplomats to leave the country within 72 hours, in retaliation for a similar move by Chad.
Chad's government had earlier declared four Sudanese diplomats attached to Sudan's embassy in N'Djamena as "persona non grata" and ordered their exit from the country within 72 hours.
The spokesperson of Chad's government says the recurrence of such statements by Sudanese authorities with regards to Chad and its government is simply not acceptable, hostile, and masks a hidden agenda.
Sudan's foreign affairs ministry has ordered three Chadian diplomats to leave the country within 72 hours, in retaliation for a similar move by Chad.
Chad's government had earlier declared four Sudanese diplomats attached to Sudan's embassy in N'Djamena as "persona non grata" and ordered their exit from the country within 72 hours.
The spokesperson of Chad's government says the recurrence of such statements by Sudanese authorities with regards to Chad and its government is simply not acceptable, hostile, and masks a hidden agenda.
Sudan's foreign affairs ministry has ordered three Chadian diplomats to leave the country within 72 hours, in retaliation for a similar move by Chad.
Chad's government had earlier declared four Sudanese diplomats attached to Sudan's embassy in N'Djamena as "persona non grata" and ordered their exit from the country within 72 hours.
The spokesperson of Chad's government says the recurrence of such statements by Sudanese authorities with regards to Chad and its government is simply not acceptable, hostile, and masks a hidden agenda.
Sudan's foreign affairs ministry has ordered three Chadian diplomats to leave the country within 72 hours, in retaliation for a similar move by Chad.
Chad's government had earlier declared four Sudanese diplomats attached to Sudan's embassy in N'Djamena as "persona non grata" and ordered their exit from the country within 72 hours.
The spokesperson of Chad's government says the recurrence of such statements by Sudanese authorities with regards to Chad and its government is simply not acceptable, hostile, and masks a hidden agenda.
Sudan's foreign affairs ministry has ordered three Chadian diplomats to leave the country within 72 hours, in retaliation for a similar move by Chad.
Chad's government had earlier declared four Sudanese diplomats attached to Sudan's embassy in N'Djamena as "persona non grata" and ordered their exit from the country within 72 hours.
The spokesperson of Chad's government says the recurrence of such statements by Sudanese authorities with regards to Chad and its government is simply not acceptable, hostile, and masks a hidden agenda.
Sudan's foreign affairs ministry has ordered three Chadian diplomats to leave the country within 72 hours, in retaliation for a similar move by Chad.
Chad's government had earlier declared four Sudanese diplomats attached to Sudan's embassy in N'Djamena as "persona non grata" and ordered their exit from the country within 72 hours.
The spokesperson of Chad's government says the recurrence of such statements by Sudanese authorities with regards to Chad and its government is simply not acceptable, hostile, and masks a hidden agenda.
The World Bank has reported that approximately 99.9% of targeted poor and vulnerable households are yet to receive the Federal Government’s recently announced N25,000 per month cash handout.
Data from the World Bank’s Lead Economist for Nigeria, Alex Sienaert, was presented in Abuja during the Nigeria Development Update, December 2023 edition.
The Federal Government intends to provide cash transfers to low-income households, paying N25,000 per month for three months, according to his presentation material.
President Bola Tinubu introduced the Conditional Cash Transfer Program on October 17, 2023, with funding support of $800 million from the World Bank.
The World Bank has reported that approximately 99.9% of targeted poor and vulnerable households are yet to receive the Federal Government’s recently announced N25,000 per month cash handout.
Data from the World Bank’s Lead Economist for Nigeria, Alex Sienaert, was presented in Abuja during the Nigeria Development Update, December 2023 edition.
The Federal Government intends to provide cash transfers to low-income households, paying N25,000 per month for three months, according to his presentation material.
President Bola Tinubu introduced the Conditional Cash Transfer Program on October 17, 2023, with funding support of $800 million from the World Bank.
The World Bank has reported that approximately 99.9% of targeted poor and vulnerable households are yet to receive the Federal Government’s recently announced N25,000 per month cash handout.
Data from the World Bank’s Lead Economist for Nigeria, Alex Sienaert, was presented in Abuja during the Nigeria Development Update, December 2023 edition.
The Federal Government intends to provide cash transfers to low-income households, paying N25,000 per month for three months, according to his presentation material.
President Bola Tinubu introduced the Conditional Cash Transfer Program on October 17, 2023, with funding support of $800 million from the World Bank.
The World Bank has reported that approximately 99.9% of targeted poor and vulnerable households are yet to receive the Federal Government’s recently announced N25,000 per month cash handout.
Data from the World Bank’s Lead Economist for Nigeria, Alex Sienaert, was presented in Abuja during the Nigeria Development Update, December 2023 edition.
The Federal Government intends to provide cash transfers to low-income households, paying N25,000 per month for three months, according to his presentation material.
President Bola Tinubu introduced the Conditional Cash Transfer Program on October 17, 2023, with funding support of $800 million from the World Bank.
The World Bank has reported that approximately 99.9% of targeted poor and vulnerable households are yet to receive the Federal Government’s recently announced N25,000 per month cash handout.
Data from the World Bank’s Lead Economist for Nigeria, Alex Sienaert, was presented in Abuja during the Nigeria Development Update, December 2023 edition.
The Federal Government intends to provide cash transfers to low-income households, paying N25,000 per month for three months, according to his presentation material.
President Bola Tinubu introduced the Conditional Cash Transfer Program on October 17, 2023, with funding support of $800 million from the World Bank.
The World Bank has reported that approximately 99.9% of targeted poor and vulnerable households are yet to receive the Federal Government’s recently announced N25,000 per month cash handout.
Data from the World Bank’s Lead Economist for Nigeria, Alex Sienaert, was presented in Abuja during the Nigeria Development Update, December 2023 edition.
The Federal Government intends to provide cash transfers to low-income households, paying N25,000 per month for three months, according to his presentation material.
President Bola Tinubu introduced the Conditional Cash Transfer Program on October 17, 2023, with funding support of $800 million from the World Bank.
The National Association of Academic Technologists has expressed reservation over the removal of Federal Universities, Polytechnics and Colleges of Education from the Integrated Personnel Payment System.
The Minister of Education, Prof. Tahir Mamman, says FEC observed that Vice Chancellors of Universities didn’t need to abandon their work to come to Abuja to process the salaries of their personnel.
NAAT says by the government’s recent action, university autonomy will be restored.
It, however, expressed reservations on “payment uniformity of salaries and allowances across federal tertiary institutions as it was achieved under IPPIS despite its shortcomings.
The National Association of Academic Technologists has expressed reservation over the removal of Federal Universities, Polytechnics and Colleges of Education from the Integrated Personnel Payment System.
The Minister of Education, Prof. Tahir Mamman, says FEC observed that Vice Chancellors of Universities didn’t need to abandon their work to come to Abuja to process the salaries of their personnel.
NAAT says by the government’s recent action, university autonomy will be restored.
It, however, expressed reservations on “payment uniformity of salaries and allowances across federal tertiary institutions as it was achieved under IPPIS despite its shortcomings.
The National Association of Academic Technologists has expressed reservation over the removal of Federal Universities, Polytechnics and Colleges of Education from the Integrated Personnel Payment System.
The Minister of Education, Prof. Tahir Mamman, says FEC observed that Vice Chancellors of Universities didn’t need to abandon their work to come to Abuja to process the salaries of their personnel.
NAAT says by the government’s recent action, university autonomy will be restored.
It, however, expressed reservations on “payment uniformity of salaries and allowances across federal tertiary institutions as it was achieved under IPPIS despite its shortcomings.
The National Association of Academic Technologists has expressed reservation over the removal of Federal Universities, Polytechnics and Colleges of Education from the Integrated Personnel Payment System.
The Minister of Education, Prof. Tahir Mamman, says FEC observed that Vice Chancellors of Universities didn’t need to abandon their work to come to Abuja to process the salaries of their personnel.
NAAT says by the government’s recent action, university autonomy will be restored.
It, however, expressed reservations on “payment uniformity of salaries and allowances across federal tertiary institutions as it was achieved under IPPIS despite its shortcomings.
The National Association of Academic Technologists has expressed reservation over the removal of Federal Universities, Polytechnics and Colleges of Education from the Integrated Personnel Payment System.
The Minister of Education, Prof. Tahir Mamman, says FEC observed that Vice Chancellors of Universities didn’t need to abandon their work to come to Abuja to process the salaries of their personnel.
NAAT says by the government’s recent action, university autonomy will be restored.
It, however, expressed reservations on “payment uniformity of salaries and allowances across federal tertiary institutions as it was achieved under IPPIS despite its shortcomings.
The National Association of Academic Technologists has expressed reservation over the removal of Federal Universities, Polytechnics and Colleges of Education from the Integrated Personnel Payment System.
The Minister of Education, Prof. Tahir Mamman, says FEC observed that Vice Chancellors of Universities didn’t need to abandon their work to come to Abuja to process the salaries of their personnel.
NAAT says by the government’s recent action, university autonomy will be restored.
It, however, expressed reservations on “payment uniformity of salaries and allowances across federal tertiary institutions as it was achieved under IPPIS despite its shortcomings.
The Chinese government has lashed out at the smearing of its Belt and Road Initiative after its only major Western partner pulled out of the infrastructure project.
Italy was the first Group of Seven nation to take part in China’s ambitious global plan but notified Bejing it would withdraw in 2024.
China’s Ministry of Foreign Affairs issued a statement opposing the smearing and undermining of cooperation on the joint construction of the Belt and Road.
Ministry spokesperson Wang Wenbin says Beijing is also opposed to confrontation and division among camps that causes separation.
The Chinese government has lashed out at the smearing of its Belt and Road Initiative after its only major Western partner pulled out of the infrastructure project.
Italy was the first Group of Seven nation to take part in China’s ambitious global plan but notified Bejing it would withdraw in 2024.
China’s Ministry of Foreign Affairs issued a statement opposing the smearing and undermining of cooperation on the joint construction of the Belt and Road.
Ministry spokesperson Wang Wenbin says Beijing is also opposed to confrontation and division among camps that causes separation.
The Chinese government has lashed out at the smearing of its Belt and Road Initiative after its only major Western partner pulled out of the infrastructure project.
Italy was the first Group of Seven nation to take part in China’s ambitious global plan but notified Bejing it would withdraw in 2024.
China’s Ministry of Foreign Affairs issued a statement opposing the smearing and undermining of cooperation on the joint construction of the Belt and Road.
Ministry spokesperson Wang Wenbin says Beijing is also opposed to confrontation and division among camps that causes separation.
The Chinese government has lashed out at the smearing of its Belt and Road Initiative after its only major Western partner pulled out of the infrastructure project.
Italy was the first Group of Seven nation to take part in China’s ambitious global plan but notified Bejing it would withdraw in 2024.
China’s Ministry of Foreign Affairs issued a statement opposing the smearing and undermining of cooperation on the joint construction of the Belt and Road.
Ministry spokesperson Wang Wenbin says Beijing is also opposed to confrontation and division among camps that causes separation.
The Chinese government has lashed out at the smearing of its Belt and Road Initiative after its only major Western partner pulled out of the infrastructure project.
Italy was the first Group of Seven nation to take part in China’s ambitious global plan but notified Bejing it would withdraw in 2024.
China’s Ministry of Foreign Affairs issued a statement opposing the smearing and undermining of cooperation on the joint construction of the Belt and Road.
Ministry spokesperson Wang Wenbin says Beijing is also opposed to confrontation and division among camps that causes separation.
The Chinese government has lashed out at the smearing of its Belt and Road Initiative after its only major Western partner pulled out of the infrastructure project.
Italy was the first Group of Seven nation to take part in China’s ambitious global plan but notified Bejing it would withdraw in 2024.
China’s Ministry of Foreign Affairs issued a statement opposing the smearing and undermining of cooperation on the joint construction of the Belt and Road.
Ministry spokesperson Wang Wenbin says Beijing is also opposed to confrontation and division among camps that causes separation.
Argentina’s new President Javier Milei has warned his country’s people to prepare for painful austerity measures as he seeks to turn around decades of economic stagnation and decline.
Milei used his inaugural address to prepare Argentinians for the short-term hardship he insists is necessary to fix the biggest crisis in the country’s history.
Latin America’s third-largest economy, which has stumbled between crises for decades, is grappling with annual inflation of higher than 140 per cent and a 40 per cent poverty rate.
Argentina’s new President Javier Milei has warned his country’s people to prepare for painful austerity measures as he seeks to turn around decades of economic stagnation and decline.
Milei used his inaugural address to prepare Argentinians for the short-term hardship he insists is necessary to fix the biggest crisis in the country’s history.
Latin America’s third-largest economy, which has stumbled between crises for decades, is grappling with annual inflation of higher than 140 per cent and a 40 per cent poverty rate.
Argentina’s new President Javier Milei has warned his country’s people to prepare for painful austerity measures as he seeks to turn around decades of economic stagnation and decline.
Milei used his inaugural address to prepare Argentinians for the short-term hardship he insists is necessary to fix the biggest crisis in the country’s history.
Latin America’s third-largest economy, which has stumbled between crises for decades, is grappling with annual inflation of higher than 140 per cent and a 40 per cent poverty rate.
Argentina’s new President Javier Milei has warned his country’s people to prepare for painful austerity measures as he seeks to turn around decades of economic stagnation and decline.
Milei used his inaugural address to prepare Argentinians for the short-term hardship he insists is necessary to fix the biggest crisis in the country’s history.
Latin America’s third-largest economy, which has stumbled between crises for decades, is grappling with annual inflation of higher than 140 per cent and a 40 per cent poverty rate.
Argentina’s new President Javier Milei has warned his country’s people to prepare for painful austerity measures as he seeks to turn around decades of economic stagnation and decline.
Milei used his inaugural address to prepare Argentinians for the short-term hardship he insists is necessary to fix the biggest crisis in the country’s history.
Latin America’s third-largest economy, which has stumbled between crises for decades, is grappling with annual inflation of higher than 140 per cent and a 40 per cent poverty rate.
Argentina’s new President Javier Milei has warned his country’s people to prepare for painful austerity measures as he seeks to turn around decades of economic stagnation and decline.
Milei used his inaugural address to prepare Argentinians for the short-term hardship he insists is necessary to fix the biggest crisis in the country’s history.
Latin America’s third-largest economy, which has stumbled between crises for decades, is grappling with annual inflation of higher than 140 per cent and a 40 per cent poverty rate.
The Australian government says it will halve the migration intake within two years in a bid to fix the country's broken immigration system.
It aims to slash the annual intake to 250,000 - roughly in line with pre-pandemic levels - by June 2025.
Visa rules for international students and low-skilled workers will also be tightened under the new plan.
Migration has climbed to record levels in Australia, adding pressure to housing and infrastructure woes.
However there remains a shortage of skilled workers, and the country struggles to attract them.
The Australian government says it will halve the migration intake within two years in a bid to fix the country's broken immigration system.
It aims to slash the annual intake to 250,000 - roughly in line with pre-pandemic levels - by June 2025.
Visa rules for international students and low-skilled workers will also be tightened under the new plan.
Migration has climbed to record levels in Australia, adding pressure to housing and infrastructure woes.
However there remains a shortage of skilled workers, and the country struggles to attract them.
The Australian government says it will halve the migration intake within two years in a bid to fix the country's broken immigration system.
It aims to slash the annual intake to 250,000 - roughly in line with pre-pandemic levels - by June 2025.
Visa rules for international students and low-skilled workers will also be tightened under the new plan.
Migration has climbed to record levels in Australia, adding pressure to housing and infrastructure woes.
However there remains a shortage of skilled workers, and the country struggles to attract them.
The Australian government says it will halve the migration intake within two years in a bid to fix the country's broken immigration system.
It aims to slash the annual intake to 250,000 - roughly in line with pre-pandemic levels - by June 2025.
Visa rules for international students and low-skilled workers will also be tightened under the new plan.
Migration has climbed to record levels in Australia, adding pressure to housing and infrastructure woes.
However there remains a shortage of skilled workers, and the country struggles to attract them.
The Australian government says it will halve the migration intake within two years in a bid to fix the country's broken immigration system.
It aims to slash the annual intake to 250,000 - roughly in line with pre-pandemic levels - by June 2025.
Visa rules for international students and low-skilled workers will also be tightened under the new plan.
Migration has climbed to record levels in Australia, adding pressure to housing and infrastructure woes.
However there remains a shortage of skilled workers, and the country struggles to attract them.
The Australian government says it will halve the migration intake within two years in a bid to fix the country's broken immigration system.
It aims to slash the annual intake to 250,000 - roughly in line with pre-pandemic levels - by June 2025.
Visa rules for international students and low-skilled workers will also be tightened under the new plan.
Migration has climbed to record levels in Australia, adding pressure to housing and infrastructure woes.
However there remains a shortage of skilled workers, and the country struggles to attract them.
Most goods coming from Angola, the Democratic Republic of Congo, Gambia, Mali, Madagascar and Mauritania will no longer have tariffs on them when entering the Chinese market.
China is the biggest consumer of cobalt from DR Congo, while a booming cafe culture among Chinese youth is driving sales of coffee.
China's new policy, which comes into effect on Christmas Day, follows criticism that it focuses on buying mainly raw materials from the continent.
It's being touted by China's Customs Tariff Commission of the State Council as proof of the spirit of China-Africa friendship and cooperation" leading to "a high-quality China-Africa community with a shared future.
Most goods coming from Angola, the Democratic Republic of Congo, Gambia, Mali, Madagascar and Mauritania will no longer have tariffs on them when entering the Chinese market.
China is the biggest consumer of cobalt from DR Congo, while a booming cafe culture among Chinese youth is driving sales of coffee.
China's new policy, which comes into effect on Christmas Day, follows criticism that it focuses on buying mainly raw materials from the continent.
It's being touted by China's Customs Tariff Commission of the State Council as proof of the spirit of China-Africa friendship and cooperation" leading to "a high-quality China-Africa community with a shared future.
Most goods coming from Angola, the Democratic Republic of Congo, Gambia, Mali, Madagascar and Mauritania will no longer have tariffs on them when entering the Chinese market.
China is the biggest consumer of cobalt from DR Congo, while a booming cafe culture among Chinese youth is driving sales of coffee.
China's new policy, which comes into effect on Christmas Day, follows criticism that it focuses on buying mainly raw materials from the continent.
It's being touted by China's Customs Tariff Commission of the State Council as proof of the spirit of China-Africa friendship and cooperation" leading to "a high-quality China-Africa community with a shared future.
Most goods coming from Angola, the Democratic Republic of Congo, Gambia, Mali, Madagascar and Mauritania will no longer have tariffs on them when entering the Chinese market.
China is the biggest consumer of cobalt from DR Congo, while a booming cafe culture among Chinese youth is driving sales of coffee.
China's new policy, which comes into effect on Christmas Day, follows criticism that it focuses on buying mainly raw materials from the continent.
It's being touted by China's Customs Tariff Commission of the State Council as proof of the spirit of China-Africa friendship and cooperation" leading to "a high-quality China-Africa community with a shared future.
Most goods coming from Angola, the Democratic Republic of Congo, Gambia, Mali, Madagascar and Mauritania will no longer have tariffs on them when entering the Chinese market.
China is the biggest consumer of cobalt from DR Congo, while a booming cafe culture among Chinese youth is driving sales of coffee.
China's new policy, which comes into effect on Christmas Day, follows criticism that it focuses on buying mainly raw materials from the continent.
It's being touted by China's Customs Tariff Commission of the State Council as proof of the spirit of China-Africa friendship and cooperation" leading to "a high-quality China-Africa community with a shared future.
Most goods coming from Angola, the Democratic Republic of Congo, Gambia, Mali, Madagascar and Mauritania will no longer have tariffs on them when entering the Chinese market.
China is the biggest consumer of cobalt from DR Congo, while a booming cafe culture among Chinese youth is driving sales of coffee.
China's new policy, which comes into effect on Christmas Day, follows criticism that it focuses on buying mainly raw materials from the continent.
It's being touted by China's Customs Tariff Commission of the State Council as proof of the spirit of China-Africa friendship and cooperation" leading to "a high-quality China-Africa community with a shared future.
African Development Bank Group President, Dr Akinwumi Adesina, has warned that a new EU carbon border tax could significantly constrain Africa’s trade and industrialisation progress by penalising value-added exports including steel, cement, iron, aluminium and fertilizers.
Adesina says with Africa’s energy deficit and reliance mainly on fossil fuels, especially diesel, the implication is that Africa will be forced to export raw commodities again into Europe, which will further cause the de-industrialisation of Africa.
He added that Africa has been short-changed by climate change; now it will be short-changed in global trade.
African Development Bank Group President, Dr Akinwumi Adesina, has warned that a new EU carbon border tax could significantly constrain Africa’s trade and industrialisation progress by penalising value-added exports including steel, cement, iron, aluminium and fertilizers.
Adesina says with Africa’s energy deficit and reliance mainly on fossil fuels, especially diesel, the implication is that Africa will be forced to export raw commodities again into Europe, which will further cause the de-industrialisation of Africa.
He added that Africa has been short-changed by climate change; now it will be short-changed in global trade.
African Development Bank Group President, Dr Akinwumi Adesina, has warned that a new EU carbon border tax could significantly constrain Africa’s trade and industrialisation progress by penalising value-added exports including steel, cement, iron, aluminium and fertilizers.
Adesina says with Africa’s energy deficit and reliance mainly on fossil fuels, especially diesel, the implication is that Africa will be forced to export raw commodities again into Europe, which will further cause the de-industrialisation of Africa.
He added that Africa has been short-changed by climate change; now it will be short-changed in global trade.
African Development Bank Group President, Dr Akinwumi Adesina, has warned that a new EU carbon border tax could significantly constrain Africa’s trade and industrialisation progress by penalising value-added exports including steel, cement, iron, aluminium and fertilizers.
Adesina says with Africa’s energy deficit and reliance mainly on fossil fuels, especially diesel, the implication is that Africa will be forced to export raw commodities again into Europe, which will further cause the de-industrialisation of Africa.
He added that Africa has been short-changed by climate change; now it will be short-changed in global trade.
African Development Bank Group President, Dr Akinwumi Adesina, has warned that a new EU carbon border tax could significantly constrain Africa’s trade and industrialisation progress by penalising value-added exports including steel, cement, iron, aluminium and fertilizers.
Adesina says with Africa’s energy deficit and reliance mainly on fossil fuels, especially diesel, the implication is that Africa will be forced to export raw commodities again into Europe, which will further cause the de-industrialisation of Africa.
He added that Africa has been short-changed by climate change; now it will be short-changed in global trade.
African Development Bank Group President, Dr Akinwumi Adesina, has warned that a new EU carbon border tax could significantly constrain Africa’s trade and industrialisation progress by penalising value-added exports including steel, cement, iron, aluminium and fertilizers.
Adesina says with Africa’s energy deficit and reliance mainly on fossil fuels, especially diesel, the implication is that Africa will be forced to export raw commodities again into Europe, which will further cause the de-industrialisation of Africa.
He added that Africa has been short-changed by climate change; now it will be short-changed in global trade.
The International Monetary Fund has disclosed that Nigeria is not earning enough revenue to support its developmental needs.
The IMF says the country’s nine per cent revenue to Gross Domestic Product ratio is very low and not enough to support the country’s social safety nets, development spending, and protect its vulnerable households.
The Director of the IMF’s Communications Department, Julie Kozak says raising revenue from the very current low revenue-to-GDP ratio of nine per cent is essential to create fiscal space for social and development spending.
She, however, noted that Nigeria’s 2024 budget hopes to prioritise priority spending, both on the social and development side.
The International Monetary Fund has disclosed that Nigeria is not earning enough revenue to support its developmental needs.
The IMF says the country’s nine per cent revenue to Gross Domestic Product ratio is very low and not enough to support the country’s social safety nets, development spending, and protect its vulnerable households.
The Director of the IMF’s Communications Department, Julie Kozak says raising revenue from the very current low revenue-to-GDP ratio of nine per cent is essential to create fiscal space for social and development spending.
She, however, noted that Nigeria’s 2024 budget hopes to prioritise priority spending, both on the social and development side.
The International Monetary Fund has disclosed that Nigeria is not earning enough revenue to support its developmental needs.
The IMF says the country’s nine per cent revenue to Gross Domestic Product ratio is very low and not enough to support the country’s social safety nets, development spending, and protect its vulnerable households.
The Director of the IMF’s Communications Department, Julie Kozak says raising revenue from the very current low revenue-to-GDP ratio of nine per cent is essential to create fiscal space for social and development spending.
She, however, noted that Nigeria’s 2024 budget hopes to prioritise priority spending, both on the social and development side.
The International Monetary Fund has disclosed that Nigeria is not earning enough revenue to support its developmental needs.
The IMF says the country’s nine per cent revenue to Gross Domestic Product ratio is very low and not enough to support the country’s social safety nets, development spending, and protect its vulnerable households.
The Director of the IMF’s Communications Department, Julie Kozak says raising revenue from the very current low revenue-to-GDP ratio of nine per cent is essential to create fiscal space for social and development spending.
She, however, noted that Nigeria’s 2024 budget hopes to prioritise priority spending, both on the social and development side.
The International Monetary Fund has disclosed that Nigeria is not earning enough revenue to support its developmental needs.
The IMF says the country’s nine per cent revenue to Gross Domestic Product ratio is very low and not enough to support the country’s social safety nets, development spending, and protect its vulnerable households.
The Director of the IMF’s Communications Department, Julie Kozak says raising revenue from the very current low revenue-to-GDP ratio of nine per cent is essential to create fiscal space for social and development spending.
She, however, noted that Nigeria’s 2024 budget hopes to prioritise priority spending, both on the social and development side.
The International Monetary Fund has disclosed that Nigeria is not earning enough revenue to support its developmental needs.
The IMF says the country’s nine per cent revenue to Gross Domestic Product ratio is very low and not enough to support the country’s social safety nets, development spending, and protect its vulnerable households.
The Director of the IMF’s Communications Department, Julie Kozak says raising revenue from the very current low revenue-to-GDP ratio of nine per cent is essential to create fiscal space for social and development spending.
She, however, noted that Nigeria’s 2024 budget hopes to prioritise priority spending, both on the social and development side.
President Bola Tinubu has approved the appointment of four new members of the National Council on Privatization, representing the private sector in the Council.
The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, says the President charged the new members of the Council to bring the best of their private sector experience to bear in ensuring that Nigerians receive the greatest value and impact from investments that were made on their behalf.
President Bola Tinubu has approved the appointment of four new members of the National Council on Privatization, representing the private sector in the Council.
The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, says the President charged the new members of the Council to bring the best of their private sector experience to bear in ensuring that Nigerians receive the greatest value and impact from investments that were made on their behalf.
President Bola Tinubu has approved the appointment of four new members of the National Council on Privatization, representing the private sector in the Council.
The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, says the President charged the new members of the Council to bring the best of their private sector experience to bear in ensuring that Nigerians receive the greatest value and impact from investments that were made on their behalf.
President Bola Tinubu has approved the appointment of four new members of the National Council on Privatization, representing the private sector in the Council.
The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, says the President charged the new members of the Council to bring the best of their private sector experience to bear in ensuring that Nigerians receive the greatest value and impact from investments that were made on their behalf.
President Bola Tinubu has approved the appointment of four new members of the National Council on Privatization, representing the private sector in the Council.
The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, says the President charged the new members of the Council to bring the best of their private sector experience to bear in ensuring that Nigerians receive the greatest value and impact from investments that were made on their behalf.
President Bola Tinubu has approved the appointment of four new members of the National Council on Privatization, representing the private sector in the Council.
The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, says the President charged the new members of the Council to bring the best of their private sector experience to bear in ensuring that Nigerians receive the greatest value and impact from investments that were made on their behalf.
The Governor of Lagos State, Babajide Sanwo-Olu, has disclosed that the government was reviewing the Property Law of Lagos State 2010 and the Rental Law of Lagos State 2011.
He stated that the government plans to protect the interest of investors and end users in the state through the review.
He says they have also digitised the processes of our departments for increased efficiency and greater customer satisfaction.
He charged all stakeholders in the built sector to do more by sponsoring leading-edge research into innovative building technology that could help reduce the cost of building.
The Governor of Lagos State, Babajide Sanwo-Olu, has disclosed that the government was reviewing the Property Law of Lagos State 2010 and the Rental Law of Lagos State 2011.
He stated that the government plans to protect the interest of investors and end users in the state through the review.
He says they have also digitised the processes of our departments for increased efficiency and greater customer satisfaction.
He charged all stakeholders in the built sector to do more by sponsoring leading-edge research into innovative building technology that could help reduce the cost of building.
The Governor of Lagos State, Babajide Sanwo-Olu, has disclosed that the government was reviewing the Property Law of Lagos State 2010 and the Rental Law of Lagos State 2011.
He stated that the government plans to protect the interest of investors and end users in the state through the review.
He says they have also digitised the processes of our departments for increased efficiency and greater customer satisfaction.
He charged all stakeholders in the built sector to do more by sponsoring leading-edge research into innovative building technology that could help reduce the cost of building.
The Governor of Lagos State, Babajide Sanwo-Olu, has disclosed that the government was reviewing the Property Law of Lagos State 2010 and the Rental Law of Lagos State 2011.
He stated that the government plans to protect the interest of investors and end users in the state through the review.
He says they have also digitised the processes of our departments for increased efficiency and greater customer satisfaction.
He charged all stakeholders in the built sector to do more by sponsoring leading-edge research into innovative building technology that could help reduce the cost of building.
The Governor of Lagos State, Babajide Sanwo-Olu, has disclosed that the government was reviewing the Property Law of Lagos State 2010 and the Rental Law of Lagos State 2011.
He stated that the government plans to protect the interest of investors and end users in the state through the review.
He says they have also digitised the processes of our departments for increased efficiency and greater customer satisfaction.
He charged all stakeholders in the built sector to do more by sponsoring leading-edge research into innovative building technology that could help reduce the cost of building.
The Governor of Lagos State, Babajide Sanwo-Olu, has disclosed that the government was reviewing the Property Law of Lagos State 2010 and the Rental Law of Lagos State 2011.
He stated that the government plans to protect the interest of investors and end users in the state through the review.
He says they have also digitised the processes of our departments for increased efficiency and greater customer satisfaction.
He charged all stakeholders in the built sector to do more by sponsoring leading-edge research into innovative building technology that could help reduce the cost of building.
President Bola Tinubu has encouraged members of the Economic Community of West African States to remain committed to ensuring that democracy remains the only form of governance in the sub-region.
President Tinubu asked the leaders to fight for democracy and stand against unconstitutional changes of government among member states.
He, however, emphasized the need to re-engage with countries under military rule to guarantee realistic and short transition plans that can deliver democracy and good governance.
West African leaders are meeting for talks with the region in a deepening crisis after four countries fell under military rule and with risks growing from Sahel jihadist conflicts.
President Bola Tinubu has encouraged members of the Economic Community of West African States to remain committed to ensuring that democracy remains the only form of governance in the sub-region.
President Tinubu asked the leaders to fight for democracy and stand against unconstitutional changes of government among member states.
He, however, emphasized the need to re-engage with countries under military rule to guarantee realistic and short transition plans that can deliver democracy and good governance.
West African leaders are meeting for talks with the region in a deepening crisis after four countries fell under military rule and with risks growing from Sahel jihadist conflicts.
President Bola Tinubu has encouraged members of the Economic Community of West African States to remain committed to ensuring that democracy remains the only form of governance in the sub-region.
President Tinubu asked the leaders to fight for democracy and stand against unconstitutional changes of government among member states.
He, however, emphasized the need to re-engage with countries under military rule to guarantee realistic and short transition plans that can deliver democracy and good governance.
West African leaders are meeting for talks with the region in a deepening crisis after four countries fell under military rule and with risks growing from Sahel jihadist conflicts.
President Bola Tinubu has encouraged members of the Economic Community of West African States to remain committed to ensuring that democracy remains the only form of governance in the sub-region.
President Tinubu asked the leaders to fight for democracy and stand against unconstitutional changes of government among member states.
He, however, emphasized the need to re-engage with countries under military rule to guarantee realistic and short transition plans that can deliver democracy and good governance.
West African leaders are meeting for talks with the region in a deepening crisis after four countries fell under military rule and with risks growing from Sahel jihadist conflicts.
President Bola Tinubu has encouraged members of the Economic Community of West African States to remain committed to ensuring that democracy remains the only form of governance in the sub-region.
President Tinubu asked the leaders to fight for democracy and stand against unconstitutional changes of government among member states.
He, however, emphasized the need to re-engage with countries under military rule to guarantee realistic and short transition plans that can deliver democracy and good governance.
West African leaders are meeting for talks with the region in a deepening crisis after four countries fell under military rule and with risks growing from Sahel jihadist conflicts.
President Bola Tinubu has encouraged members of the Economic Community of West African States to remain committed to ensuring that democracy remains the only form of governance in the sub-region.
President Tinubu asked the leaders to fight for democracy and stand against unconstitutional changes of government among member states.
He, however, emphasized the need to re-engage with countries under military rule to guarantee realistic and short transition plans that can deliver democracy and good governance.
West African leaders are meeting for talks with the region in a deepening crisis after four countries fell under military rule and with risks growing from Sahel jihadist conflicts.
A raft of new taxes and increases announced as part of Zimbabwe's 2024 budget by Finance Minister Mthuli Ncube has been widely condemned.
The increase in passport fees to $200 (£160), up from $120, making it the most expensive in the region, seems to have provoked the most ire.
But the increase in passport fees was just one of several hikes proposed by Mr Ncube, who needs to increase government revenue in order to reduce the amount of money the state needs to borrow.
A 1% wealth tax will be levied on residential properties with a minimum value of $100,000. Private residential properties owned by those above 70 are exempt.
A raft of new taxes and increases announced as part of Zimbabwe's 2024 budget by Finance Minister Mthuli Ncube has been widely condemned.
The increase in passport fees to $200 (£160), up from $120, making it the most expensive in the region, seems to have provoked the most ire.
But the increase in passport fees was just one of several hikes proposed by Mr Ncube, who needs to increase government revenue in order to reduce the amount of money the state needs to borrow.
A 1% wealth tax will be levied on residential properties with a minimum value of $100,000. Private residential properties owned by those above 70 are exempt.
A raft of new taxes and increases announced as part of Zimbabwe's 2024 budget by Finance Minister Mthuli Ncube has been widely condemned.
The increase in passport fees to $200 (£160), up from $120, making it the most expensive in the region, seems to have provoked the most ire.
But the increase in passport fees was just one of several hikes proposed by Mr Ncube, who needs to increase government revenue in order to reduce the amount of money the state needs to borrow.
A 1% wealth tax will be levied on residential properties with a minimum value of $100,000. Private residential properties owned by those above 70 are exempt.
A raft of new taxes and increases announced as part of Zimbabwe's 2024 budget by Finance Minister Mthuli Ncube has been widely condemned.
The increase in passport fees to $200 (£160), up from $120, making it the most expensive in the region, seems to have provoked the most ire.
But the increase in passport fees was just one of several hikes proposed by Mr Ncube, who needs to increase government revenue in order to reduce the amount of money the state needs to borrow.
A 1% wealth tax will be levied on residential properties with a minimum value of $100,000. Private residential properties owned by those above 70 are exempt.
A raft of new taxes and increases announced as part of Zimbabwe's 2024 budget by Finance Minister Mthuli Ncube has been widely condemned.
The increase in passport fees to $200 (£160), up from $120, making it the most expensive in the region, seems to have provoked the most ire.
But the increase in passport fees was just one of several hikes proposed by Mr Ncube, who needs to increase government revenue in order to reduce the amount of money the state needs to borrow.
A 1% wealth tax will be levied on residential properties with a minimum value of $100,000. Private residential properties owned by those above 70 are exempt.
A raft of new taxes and increases announced as part of Zimbabwe's 2024 budget by Finance Minister Mthuli Ncube has been widely condemned.
The increase in passport fees to $200 (£160), up from $120, making it the most expensive in the region, seems to have provoked the most ire.
But the increase in passport fees was just one of several hikes proposed by Mr Ncube, who needs to increase government revenue in order to reduce the amount of money the state needs to borrow.
A 1% wealth tax will be levied on residential properties with a minimum value of $100,000. Private residential properties owned by those above 70 are exempt.
Burkina Faso and Niger have followed Mali in announcing they are to withdraw from an international force known as the G5 that was set up to fight Islamists in the Sahel region.
All three countries are run by military rulers following coups who have formed their own mutual defence pact.
A statement from the military-led governments of Burkina Faso and Niger was critical of the G5 force for failing to make the Sahel region safer.
It also suggested the anti-jihadist force undermined the two African nations' desire for greater independence and dignity and was serving foreign interests instead. They almost certainly meant France.
Relations with the former colonial power have dramatically deteriorated.
Burkina Faso and Niger have followed Mali in announcing they are to withdraw from an international force known as the G5 that was set up to fight Islamists in the Sahel region.
All three countries are run by military rulers following coups who have formed their own mutual defence pact.
A statement from the military-led governments of Burkina Faso and Niger was critical of the G5 force for failing to make the Sahel region safer.
It also suggested the anti-jihadist force undermined the two African nations' desire for greater independence and dignity and was serving foreign interests instead. They almost certainly meant France.
Relations with the former colonial power have dramatically deteriorated.
Burkina Faso and Niger have followed Mali in announcing they are to withdraw from an international force known as the G5 that was set up to fight Islamists in the Sahel region.
All three countries are run by military rulers following coups who have formed their own mutual defence pact.
A statement from the military-led governments of Burkina Faso and Niger was critical of the G5 force for failing to make the Sahel region safer.
It also suggested the anti-jihadist force undermined the two African nations' desire for greater independence and dignity and was serving foreign interests instead. They almost certainly meant France.
Relations with the former colonial power have dramatically deteriorated.
Burkina Faso and Niger have followed Mali in announcing they are to withdraw from an international force known as the G5 that was set up to fight Islamists in the Sahel region.
All three countries are run by military rulers following coups who have formed their own mutual defence pact.
A statement from the military-led governments of Burkina Faso and Niger was critical of the G5 force for failing to make the Sahel region safer.
It also suggested the anti-jihadist force undermined the two African nations' desire for greater independence and dignity and was serving foreign interests instead. They almost certainly meant France.
Relations with the former colonial power have dramatically deteriorated.
Burkina Faso and Niger have followed Mali in announcing they are to withdraw from an international force known as the G5 that was set up to fight Islamists in the Sahel region.
All three countries are run by military rulers following coups who have formed their own mutual defence pact.
A statement from the military-led governments of Burkina Faso and Niger was critical of the G5 force for failing to make the Sahel region safer.
It also suggested the anti-jihadist force undermined the two African nations' desire for greater independence and dignity and was serving foreign interests instead. They almost certainly meant France.
Relations with the former colonial power have dramatically deteriorated.
Burkina Faso and Niger have followed Mali in announcing they are to withdraw from an international force known as the G5 that was set up to fight Islamists in the Sahel region.
All three countries are run by military rulers following coups who have formed their own mutual defence pact.
A statement from the military-led governments of Burkina Faso and Niger was critical of the G5 force for failing to make the Sahel region safer.
It also suggested the anti-jihadist force undermined the two African nations' desire for greater independence and dignity and was serving foreign interests instead. They almost certainly meant France.
Relations with the former colonial power have dramatically deteriorated.
The Minister of Information and National Orientation, Mohammed Idris, has assured Nigerians that the N27.5 trillion 2024 budget presented by President Bola Tinubu to the National Assembly will mark the beginning of the transformation in the country once it is passed by the federal lawmakers.
Idris explained that the proposed budget signifies a pivotal step towards the realisation of President Tinubu’s renewed hope agenda which aligns fiscal strategies and priorities with broader national development objectives.
He says the budget as presented signifies a pivotal step towards the realisation of the Renewed Hope Agenda, by aligning fiscal strategies and priorities with broader national development objectives.
The Minister of Information and National Orientation, Mohammed Idris, has assured Nigerians that the N27.5 trillion 2024 budget presented by President Bola Tinubu to the National Assembly will mark the beginning of the transformation in the country once it is passed by the federal lawmakers.
Idris explained that the proposed budget signifies a pivotal step towards the realisation of President Tinubu’s renewed hope agenda which aligns fiscal strategies and priorities with broader national development objectives.
He says the budget as presented signifies a pivotal step towards the realisation of the Renewed Hope Agenda, by aligning fiscal strategies and priorities with broader national development objectives.
The Minister of Information and National Orientation, Mohammed Idris, has assured Nigerians that the N27.5 trillion 2024 budget presented by President Bola Tinubu to the National Assembly will mark the beginning of the transformation in the country once it is passed by the federal lawmakers.
Idris explained that the proposed budget signifies a pivotal step towards the realisation of President Tinubu’s renewed hope agenda which aligns fiscal strategies and priorities with broader national development objectives.
He says the budget as presented signifies a pivotal step towards the realisation of the Renewed Hope Agenda, by aligning fiscal strategies and priorities with broader national development objectives.
The Minister of Information and National Orientation, Mohammed Idris, has assured Nigerians that the N27.5 trillion 2024 budget presented by President Bola Tinubu to the National Assembly will mark the beginning of the transformation in the country once it is passed by the federal lawmakers.
Idris explained that the proposed budget signifies a pivotal step towards the realisation of President Tinubu’s renewed hope agenda which aligns fiscal strategies and priorities with broader national development objectives.
He says the budget as presented signifies a pivotal step towards the realisation of the Renewed Hope Agenda, by aligning fiscal strategies and priorities with broader national development objectives.
The Minister of Information and National Orientation, Mohammed Idris, has assured Nigerians that the N27.5 trillion 2024 budget presented by President Bola Tinubu to the National Assembly will mark the beginning of the transformation in the country once it is passed by the federal lawmakers.
Idris explained that the proposed budget signifies a pivotal step towards the realisation of President Tinubu’s renewed hope agenda which aligns fiscal strategies and priorities with broader national development objectives.
He says the budget as presented signifies a pivotal step towards the realisation of the Renewed Hope Agenda, by aligning fiscal strategies and priorities with broader national development objectives.
The Minister of Information and National Orientation, Mohammed Idris, has assured Nigerians that the N27.5 trillion 2024 budget presented by President Bola Tinubu to the National Assembly will mark the beginning of the transformation in the country once it is passed by the federal lawmakers.
Idris explained that the proposed budget signifies a pivotal step towards the realisation of President Tinubu’s renewed hope agenda which aligns fiscal strategies and priorities with broader national development objectives.
He says the budget as presented signifies a pivotal step towards the realisation of the Renewed Hope Agenda, by aligning fiscal strategies and priorities with broader national development objectives.
The Supreme Court, in the ruling, reviewed its earlier order that the old notes should cease to be legal tender by the last day of December 2023.
The Supreme Court extended the lifespan of the redesigned 200, 500 and 1000 naira notes.
Many state governments sued the federal government, urging the Supreme Court to reverse the monetary policy.
A seven-member panel of the Supreme Court led by John Okoro had in March ordered the CBN to continue to receive the old notes from Nigerians until 31 December 2023.
The Supreme Court, in the ruling, reviewed its earlier order that the old notes should cease to be legal tender by the last day of December 2023.
The Supreme Court extended the lifespan of the redesigned 200, 500 and 1000 naira notes.
Many state governments sued the federal government, urging the Supreme Court to reverse the monetary policy.
A seven-member panel of the Supreme Court led by John Okoro had in March ordered the CBN to continue to receive the old notes from Nigerians until 31 December 2023.
The Supreme Court, in the ruling, reviewed its earlier order that the old notes should cease to be legal tender by the last day of December 2023.
The Supreme Court extended the lifespan of the redesigned 200, 500 and 1000 naira notes.
Many state governments sued the federal government, urging the Supreme Court to reverse the monetary policy.
A seven-member panel of the Supreme Court led by John Okoro had in March ordered the CBN to continue to receive the old notes from Nigerians until 31 December 2023.
The Supreme Court, in the ruling, reviewed its earlier order that the old notes should cease to be legal tender by the last day of December 2023.
The Supreme Court extended the lifespan of the redesigned 200, 500 and 1000 naira notes.
Many state governments sued the federal government, urging the Supreme Court to reverse the monetary policy.
A seven-member panel of the Supreme Court led by John Okoro had in March ordered the CBN to continue to receive the old notes from Nigerians until 31 December 2023.
The Supreme Court, in the ruling, reviewed its earlier order that the old notes should cease to be legal tender by the last day of December 2023.
The Supreme Court extended the lifespan of the redesigned 200, 500 and 1000 naira notes.
Many state governments sued the federal government, urging the Supreme Court to reverse the monetary policy.
A seven-member panel of the Supreme Court led by John Okoro had in March ordered the CBN to continue to receive the old notes from Nigerians until 31 December 2023.
The Supreme Court, in the ruling, reviewed its earlier order that the old notes should cease to be legal tender by the last day of December 2023.
The Supreme Court extended the lifespan of the redesigned 200, 500 and 1000 naira notes.
Many state governments sued the federal government, urging the Supreme Court to reverse the monetary policy.
A seven-member panel of the Supreme Court led by John Okoro had in March ordered the CBN to continue to receive the old notes from Nigerians until 31 December 2023.
Tanzania has signed a deal for one of East Africa's biggest land-based carbon credit projects.
The project covers six national parks, spanning 1.8 million hectares (4.4 million acres).
Tanzania, which has forest resources of nearly 48 million hectares, has emerged as one of the leading African players in the global carbon credit trade.
It comes as world leaders are in Dubai for the COP28 summit aimed at finding ways to tackle climate change.
The new deal is an alliance between Tanzania's national park management agency, Tanapa, and Carbon Tanzania, a locally based company.
Some of the revenue from the sale of carbon credits will go to Tanapa and local communities.
Tanzania has signed a deal for one of East Africa's biggest land-based carbon credit projects.
The project covers six national parks, spanning 1.8 million hectares (4.4 million acres).
Tanzania, which has forest resources of nearly 48 million hectares, has emerged as one of the leading African players in the global carbon credit trade.
It comes as world leaders are in Dubai for the COP28 summit aimed at finding ways to tackle climate change.
The new deal is an alliance between Tanzania's national park management agency, Tanapa, and Carbon Tanzania, a locally based company.
Some of the revenue from the sale of carbon credits will go to Tanapa and local communities.
Tanzania has signed a deal for one of East Africa's biggest land-based carbon credit projects.
The project covers six national parks, spanning 1.8 million hectares (4.4 million acres).
Tanzania, which has forest resources of nearly 48 million hectares, has emerged as one of the leading African players in the global carbon credit trade.
It comes as world leaders are in Dubai for the COP28 summit aimed at finding ways to tackle climate change.
The new deal is an alliance between Tanzania's national park management agency, Tanapa, and Carbon Tanzania, a locally based company.
Some of the revenue from the sale of carbon credits will go to Tanapa and local communities.
Tanzania has signed a deal for one of East Africa's biggest land-based carbon credit projects.
The project covers six national parks, spanning 1.8 million hectares (4.4 million acres).
Tanzania, which has forest resources of nearly 48 million hectares, has emerged as one of the leading African players in the global carbon credit trade.
It comes as world leaders are in Dubai for the COP28 summit aimed at finding ways to tackle climate change.
The new deal is an alliance between Tanzania's national park management agency, Tanapa, and Carbon Tanzania, a locally based company.
Some of the revenue from the sale of carbon credits will go to Tanapa and local communities.
Tanzania has signed a deal for one of East Africa's biggest land-based carbon credit projects.
The project covers six national parks, spanning 1.8 million hectares (4.4 million acres).
Tanzania, which has forest resources of nearly 48 million hectares, has emerged as one of the leading African players in the global carbon credit trade.
It comes as world leaders are in Dubai for the COP28 summit aimed at finding ways to tackle climate change.
The new deal is an alliance between Tanzania's national park management agency, Tanapa, and Carbon Tanzania, a locally based company.
Some of the revenue from the sale of carbon credits will go to Tanapa and local communities.
Tanzania has signed a deal for one of East Africa's biggest land-based carbon credit projects.
The project covers six national parks, spanning 1.8 million hectares (4.4 million acres).
Tanzania, which has forest resources of nearly 48 million hectares, has emerged as one of the leading African players in the global carbon credit trade.
It comes as world leaders are in Dubai for the COP28 summit aimed at finding ways to tackle climate change.
The new deal is an alliance between Tanzania's national park management agency, Tanapa, and Carbon Tanzania, a locally based company.
Some of the revenue from the sale of carbon credits will go to Tanapa and local communities.
Norway’s Equinor has concluded the sale of its 20.21 per cent stake in Chevron’s operated Agbami oil field.
Equinor says that it had agreed to sell its share in the Agbami oil field to Nigerian-owned Chappal Energies for an undisclosed amount.
The assets to be sold also included Equinor Nigeria Energy Company’s 53.85 per cent ownership in Oil Mining License 128.
Equinor’s senior vice president for Africa operations, Nina Koch, this transaction realises value and is in line with Equinor’s strategy to optimise its international oil and gas portfolio and focus on core areas.
Norway’s Equinor has concluded the sale of its 20.21 per cent stake in Chevron’s operated Agbami oil field.
Equinor says that it had agreed to sell its share in the Agbami oil field to Nigerian-owned Chappal Energies for an undisclosed amount.
The assets to be sold also included Equinor Nigeria Energy Company’s 53.85 per cent ownership in Oil Mining License 128.
Equinor’s senior vice president for Africa operations, Nina Koch, this transaction realises value and is in line with Equinor’s strategy to optimise its international oil and gas portfolio and focus on core areas.
Norway’s Equinor has concluded the sale of its 20.21 per cent stake in Chevron’s operated Agbami oil field.
Equinor says that it had agreed to sell its share in the Agbami oil field to Nigerian-owned Chappal Energies for an undisclosed amount.
The assets to be sold also included Equinor Nigeria Energy Company’s 53.85 per cent ownership in Oil Mining License 128.
Equinor’s senior vice president for Africa operations, Nina Koch, this transaction realises value and is in line with Equinor’s strategy to optimise its international oil and gas portfolio and focus on core areas.
Norway’s Equinor has concluded the sale of its 20.21 per cent stake in Chevron’s operated Agbami oil field.
Equinor says that it had agreed to sell its share in the Agbami oil field to Nigerian-owned Chappal Energies for an undisclosed amount.
The assets to be sold also included Equinor Nigeria Energy Company’s 53.85 per cent ownership in Oil Mining License 128.
Equinor’s senior vice president for Africa operations, Nina Koch, this transaction realises value and is in line with Equinor’s strategy to optimise its international oil and gas portfolio and focus on core areas.
Norway’s Equinor has concluded the sale of its 20.21 per cent stake in Chevron’s operated Agbami oil field.
Equinor says that it had agreed to sell its share in the Agbami oil field to Nigerian-owned Chappal Energies for an undisclosed amount.
The assets to be sold also included Equinor Nigeria Energy Company’s 53.85 per cent ownership in Oil Mining License 128.
Equinor’s senior vice president for Africa operations, Nina Koch, this transaction realises value and is in line with Equinor’s strategy to optimise its international oil and gas portfolio and focus on core areas.
Norway’s Equinor has concluded the sale of its 20.21 per cent stake in Chevron’s operated Agbami oil field.
Equinor says that it had agreed to sell its share in the Agbami oil field to Nigerian-owned Chappal Energies for an undisclosed amount.
The assets to be sold also included Equinor Nigeria Energy Company’s 53.85 per cent ownership in Oil Mining License 128.
Equinor’s senior vice president for Africa operations, Nina Koch, this transaction realises value and is in line with Equinor’s strategy to optimise its international oil and gas portfolio and focus on core areas.
Saudi Arabia, Russia and other major oil-producing nations announced they would further slash production next year in an effort to prop up volatile prices.
Following the virtual meeting of OPEC+ ministers, Riyadh announced it would extend its voluntary oil production cut of one million barrels per day until March 2024.
Moscow says it would slash oil exports by 500,000 barrels a day up from 300,000 barrels a day so far until March, following the tough talks.
Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman will also make smaller cuts, OPEC said in a statement.
Saudi Arabia, Russia and other major oil-producing nations announced they would further slash production next year in an effort to prop up volatile prices.
Following the virtual meeting of OPEC+ ministers, Riyadh announced it would extend its voluntary oil production cut of one million barrels per day until March 2024.
Moscow says it would slash oil exports by 500,000 barrels a day up from 300,000 barrels a day so far until March, following the tough talks.
Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman will also make smaller cuts, OPEC said in a statement.
Saudi Arabia, Russia and other major oil-producing nations announced they would further slash production next year in an effort to prop up volatile prices.
Following the virtual meeting of OPEC+ ministers, Riyadh announced it would extend its voluntary oil production cut of one million barrels per day until March 2024.
Moscow says it would slash oil exports by 500,000 barrels a day up from 300,000 barrels a day so far until March, following the tough talks.
Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman will also make smaller cuts, OPEC said in a statement.
Saudi Arabia, Russia and other major oil-producing nations announced they would further slash production next year in an effort to prop up volatile prices.
Following the virtual meeting of OPEC+ ministers, Riyadh announced it would extend its voluntary oil production cut of one million barrels per day until March 2024.
Moscow says it would slash oil exports by 500,000 barrels a day up from 300,000 barrels a day so far until March, following the tough talks.
Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman will also make smaller cuts, OPEC said in a statement.
Saudi Arabia, Russia and other major oil-producing nations announced they would further slash production next year in an effort to prop up volatile prices.
Following the virtual meeting of OPEC+ ministers, Riyadh announced it would extend its voluntary oil production cut of one million barrels per day until March 2024.
Moscow says it would slash oil exports by 500,000 barrels a day up from 300,000 barrels a day so far until March, following the tough talks.
Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman will also make smaller cuts, OPEC said in a statement.
Saudi Arabia, Russia and other major oil-producing nations announced they would further slash production next year in an effort to prop up volatile prices.
Following the virtual meeting of OPEC+ ministers, Riyadh announced it would extend its voluntary oil production cut of one million barrels per day until March 2024.
Moscow says it would slash oil exports by 500,000 barrels a day up from 300,000 barrels a day so far until March, following the tough talks.
Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman will also make smaller cuts, OPEC said in a statement.
Chinese officials have launched an investigation into one of the country's biggest shadow banks, which has lent billions to real estate firms.
Zhongzhi Enterprise Group has an asset management arm that at its peak reportedly handled more than a trillion yuan.
Authorities says they are investigating suspected illegal crimes against the firm.
This comes days after reports that ZEG had declared it was insolvent.
Chinese officials have launched an investigation into one of the country's biggest shadow banks, which has lent billions to real estate firms.
Zhongzhi Enterprise Group has an asset management arm that at its peak reportedly handled more than a trillion yuan.
Authorities says they are investigating suspected illegal crimes against the firm.
This comes days after reports that ZEG had declared it was insolvent.
Chinese officials have launched an investigation into one of the country's biggest shadow banks, which has lent billions to real estate firms.
Zhongzhi Enterprise Group has an asset management arm that at its peak reportedly handled more than a trillion yuan.
Authorities says they are investigating suspected illegal crimes against the firm.
This comes days after reports that ZEG had declared it was insolvent.
Chinese officials have launched an investigation into one of the country's biggest shadow banks, which has lent billions to real estate firms.
Zhongzhi Enterprise Group has an asset management arm that at its peak reportedly handled more than a trillion yuan.
Authorities says they are investigating suspected illegal crimes against the firm.
This comes days after reports that ZEG had declared it was insolvent.
Chinese officials have launched an investigation into one of the country's biggest shadow banks, which has lent billions to real estate firms.
Zhongzhi Enterprise Group has an asset management arm that at its peak reportedly handled more than a trillion yuan.
Authorities says they are investigating suspected illegal crimes against the firm.
This comes days after reports that ZEG had declared it was insolvent.
Chinese officials have launched an investigation into one of the country's biggest shadow banks, which has lent billions to real estate firms.
Zhongzhi Enterprise Group has an asset management arm that at its peak reportedly handled more than a trillion yuan.
Authorities says they are investigating suspected illegal crimes against the firm.
This comes days after reports that ZEG had declared it was insolvent.
Mozambique's parliament has approved a draft law increasing compulsory military service from two to five years for general service and up to six for special forces.
Neighbouring countries have sent troops to help Mozambique tackle an Islamist insurgency in the north.
The new law may still face amendments and must be assented to by the president to become law.
The new law makes the armed forces responsible for sending conscription summonses upon authorisation by the defence minister.
It imposes criminal liability for people who disobey summonses and fines for companies that prevent workers from joining.
Mozambique's parliament has approved a draft law increasing compulsory military service from two to five years for general service and up to six for special forces.
Neighbouring countries have sent troops to help Mozambique tackle an Islamist insurgency in the north.
The new law may still face amendments and must be assented to by the president to become law.
The new law makes the armed forces responsible for sending conscription summonses upon authorisation by the defence minister.
It imposes criminal liability for people who disobey summonses and fines for companies that prevent workers from joining.
Mozambique's parliament has approved a draft law increasing compulsory military service from two to five years for general service and up to six for special forces.
Neighbouring countries have sent troops to help Mozambique tackle an Islamist insurgency in the north.
The new law may still face amendments and must be assented to by the president to become law.
The new law makes the armed forces responsible for sending conscription summonses upon authorisation by the defence minister.
It imposes criminal liability for people who disobey summonses and fines for companies that prevent workers from joining.
Mozambique's parliament has approved a draft law increasing compulsory military service from two to five years for general service and up to six for special forces.
Neighbouring countries have sent troops to help Mozambique tackle an Islamist insurgency in the north.
The new law may still face amendments and must be assented to by the president to become law.
The new law makes the armed forces responsible for sending conscription summonses upon authorisation by the defence minister.
It imposes criminal liability for people who disobey summonses and fines for companies that prevent workers from joining.
Mozambique's parliament has approved a draft law increasing compulsory military service from two to five years for general service and up to six for special forces.
Neighbouring countries have sent troops to help Mozambique tackle an Islamist insurgency in the north.
The new law may still face amendments and must be assented to by the president to become law.
The new law makes the armed forces responsible for sending conscription summonses upon authorisation by the defence minister.
It imposes criminal liability for people who disobey summonses and fines for companies that prevent workers from joining.
Mozambique's parliament has approved a draft law increasing compulsory military service from two to five years for general service and up to six for special forces.
Neighbouring countries have sent troops to help Mozambique tackle an Islamist insurgency in the north.
The new law may still face amendments and must be assented to by the president to become law.
The new law makes the armed forces responsible for sending conscription summonses upon authorisation by the defence minister.
It imposes criminal liability for people who disobey summonses and fines for companies that prevent workers from joining.
Somalia has joined the East African Community in a move intended to boost economic growth in the country following three decades of war.
President Hassan Sheikh Mohamud says joining the regional trade bloc was a beacon of hope for Somalia.
He says it offered hope for a future of opportunities and prosperity.
Somalia's integration into the EAC is a huge step for the Horn of Africa nation, but it did not come easy.
Months of lobbying to join the regional bloc were met by serious questions and hesitation by some member states.
Somalia has joined the East African Community in a move intended to boost economic growth in the country following three decades of war.
President Hassan Sheikh Mohamud says joining the regional trade bloc was a beacon of hope for Somalia.
He says it offered hope for a future of opportunities and prosperity.
Somalia's integration into the EAC is a huge step for the Horn of Africa nation, but it did not come easy.
Months of lobbying to join the regional bloc were met by serious questions and hesitation by some member states.
Somalia has joined the East African Community in a move intended to boost economic growth in the country following three decades of war.
President Hassan Sheikh Mohamud says joining the regional trade bloc was a beacon of hope for Somalia.
He says it offered hope for a future of opportunities and prosperity.
Somalia's integration into the EAC is a huge step for the Horn of Africa nation, but it did not come easy.
Months of lobbying to join the regional bloc were met by serious questions and hesitation by some member states.
Somalia has joined the East African Community in a move intended to boost economic growth in the country following three decades of war.
President Hassan Sheikh Mohamud says joining the regional trade bloc was a beacon of hope for Somalia.
He says it offered hope for a future of opportunities and prosperity.
Somalia's integration into the EAC is a huge step for the Horn of Africa nation, but it did not come easy.
Months of lobbying to join the regional bloc were met by serious questions and hesitation by some member states.
Somalia has joined the East African Community in a move intended to boost economic growth in the country following three decades of war.
President Hassan Sheikh Mohamud says joining the regional trade bloc was a beacon of hope for Somalia.
He says it offered hope for a future of opportunities and prosperity.
Somalia's integration into the EAC is a huge step for the Horn of Africa nation, but it did not come easy.
Months of lobbying to join the regional bloc were met by serious questions and hesitation by some member states.
Somalia has joined the East African Community in a move intended to boost economic growth in the country following three decades of war.
President Hassan Sheikh Mohamud says joining the regional trade bloc was a beacon of hope for Somalia.
He says it offered hope for a future of opportunities and prosperity.
Somalia's integration into the EAC is a huge step for the Horn of Africa nation, but it did not come easy.
Months of lobbying to join the regional bloc were met by serious questions and hesitation by some member states.
The Nigeria Export-Import Bank has disclosed that investors in Nigeria earn about 30 per cent return on their investments.
The Executive Director of Business Development, NEXIM, Stella Okotete, called for a partnership between the country and Mexico to expand access to Nigerian goods to the Mexican market.
The NEXIM boss, says collaboration with Mexico would boost the country’s foreign exchange earnings, attract investment opportunities and ultimately promote prosperity for citizens of both nations.
The Nigeria Export-Import Bank has disclosed that investors in Nigeria earn about 30 per cent return on their investments.
The Executive Director of Business Development, NEXIM, Stella Okotete, called for a partnership between the country and Mexico to expand access to Nigerian goods to the Mexican market.
The NEXIM boss, says collaboration with Mexico would boost the country’s foreign exchange earnings, attract investment opportunities and ultimately promote prosperity for citizens of both nations.
The Nigeria Export-Import Bank has disclosed that investors in Nigeria earn about 30 per cent return on their investments.
The Executive Director of Business Development, NEXIM, Stella Okotete, called for a partnership between the country and Mexico to expand access to Nigerian goods to the Mexican market.
The NEXIM boss, says collaboration with Mexico would boost the country’s foreign exchange earnings, attract investment opportunities and ultimately promote prosperity for citizens of both nations.
The Nigeria Export-Import Bank has disclosed that investors in Nigeria earn about 30 per cent return on their investments.
The Executive Director of Business Development, NEXIM, Stella Okotete, called for a partnership between the country and Mexico to expand access to Nigerian goods to the Mexican market.
The NEXIM boss, says collaboration with Mexico would boost the country’s foreign exchange earnings, attract investment opportunities and ultimately promote prosperity for citizens of both nations.
The Nigeria Export-Import Bank has disclosed that investors in Nigeria earn about 30 per cent return on their investments.
The Executive Director of Business Development, NEXIM, Stella Okotete, called for a partnership between the country and Mexico to expand access to Nigerian goods to the Mexican market.
The NEXIM boss, says collaboration with Mexico would boost the country’s foreign exchange earnings, attract investment opportunities and ultimately promote prosperity for citizens of both nations.
The Nigeria Export-Import Bank has disclosed that investors in Nigeria earn about 30 per cent return on their investments.
The Executive Director of Business Development, NEXIM, Stella Okotete, called for a partnership between the country and Mexico to expand access to Nigerian goods to the Mexican market.
The NEXIM boss, says collaboration with Mexico would boost the country’s foreign exchange earnings, attract investment opportunities and ultimately promote prosperity for citizens of both nations.
The Minister of Housing and Urban Development, Ahmed Dangiwa, has constituted a housing reform team of experts and stakeholders to develop a robust framework for the housing sector.
The Ministry of Director of Information, Badamasi Haiba, stated that the reform team would deliberate on necessary legislative amendments such as the Land Use Act, 1978; National Housing Fund Act, 1992; Federal Mortgage Bank of Nigeria Establishment Act, 1993; Federal Housing Authority Act,1973; among others.
He explained that the reform team would be made up of representatives from HDAN, agencies, professional bodies, as well as academia, to develop a robust framework for the reform of the housing sector by thoroughly reviewing relevant laws.
The Minister of Housing and Urban Development, Ahmed Dangiwa, has constituted a housing reform team of experts and stakeholders to develop a robust framework for the housing sector.
The Ministry of Director of Information, Badamasi Haiba, stated that the reform team would deliberate on necessary legislative amendments such as the Land Use Act, 1978; National Housing Fund Act, 1992; Federal Mortgage Bank of Nigeria Establishment Act, 1993; Federal Housing Authority Act,1973; among others.
He explained that the reform team would be made up of representatives from HDAN, agencies, professional bodies, as well as academia, to develop a robust framework for the reform of the housing sector by thoroughly reviewing relevant laws.
The Minister of Housing and Urban Development, Ahmed Dangiwa, has constituted a housing reform team of experts and stakeholders to develop a robust framework for the housing sector.
The Ministry of Director of Information, Badamasi Haiba, stated that the reform team would deliberate on necessary legislative amendments such as the Land Use Act, 1978; National Housing Fund Act, 1992; Federal Mortgage Bank of Nigeria Establishment Act, 1993; Federal Housing Authority Act,1973; among others.
He explained that the reform team would be made up of representatives from HDAN, agencies, professional bodies, as well as academia, to develop a robust framework for the reform of the housing sector by thoroughly reviewing relevant laws.
The Minister of Housing and Urban Development, Ahmed Dangiwa, has constituted a housing reform team of experts and stakeholders to develop a robust framework for the housing sector.
The Ministry of Director of Information, Badamasi Haiba, stated that the reform team would deliberate on necessary legislative amendments such as the Land Use Act, 1978; National Housing Fund Act, 1992; Federal Mortgage Bank of Nigeria Establishment Act, 1993; Federal Housing Authority Act,1973; among others.
He explained that the reform team would be made up of representatives from HDAN, agencies, professional bodies, as well as academia, to develop a robust framework for the reform of the housing sector by thoroughly reviewing relevant laws.
The Minister of Housing and Urban Development, Ahmed Dangiwa, has constituted a housing reform team of experts and stakeholders to develop a robust framework for the housing sector.
The Ministry of Director of Information, Badamasi Haiba, stated that the reform team would deliberate on necessary legislative amendments such as the Land Use Act, 1978; National Housing Fund Act, 1992; Federal Mortgage Bank of Nigeria Establishment Act, 1993; Federal Housing Authority Act,1973; among others.
He explained that the reform team would be made up of representatives from HDAN, agencies, professional bodies, as well as academia, to develop a robust framework for the reform of the housing sector by thoroughly reviewing relevant laws.
The Minister of Housing and Urban Development, Ahmed Dangiwa, has constituted a housing reform team of experts and stakeholders to develop a robust framework for the housing sector.
The Ministry of Director of Information, Badamasi Haiba, stated that the reform team would deliberate on necessary legislative amendments such as the Land Use Act, 1978; National Housing Fund Act, 1992; Federal Mortgage Bank of Nigeria Establishment Act, 1993; Federal Housing Authority Act,1973; among others.
He explained that the reform team would be made up of representatives from HDAN, agencies, professional bodies, as well as academia, to develop a robust framework for the reform of the housing sector by thoroughly reviewing relevant laws.
Arvind Pathak, Group Managing Director of Dangote Cement says the cement industry is responsible for seven per cent of global carbon emissions.
He says the cement industry, which provides a vital material to meet Africa’s infrastructure deficit, generates seven per cent of the world’s CO2 emissions as the cement value chain involves the intensive use of energy for raw materials’ mining, crushing, mixing, drying, firing, clinker grinding, packaging and dispatch to customers.
He noted that placed a critical demand on fuel sourcing and controlled energy usage, as almost every stage of the cement value chain produced CO2 emissions, with the bulk of emissions emanating from the firing process during clinker production in the kiln.
Arvind Pathak, Group Managing Director of Dangote Cement says the cement industry is responsible for seven per cent of global carbon emissions.
He says the cement industry, which provides a vital material to meet Africa’s infrastructure deficit, generates seven per cent of the world’s CO2 emissions as the cement value chain involves the intensive use of energy for raw materials’ mining, crushing, mixing, drying, firing, clinker grinding, packaging and dispatch to customers.
He noted that placed a critical demand on fuel sourcing and controlled energy usage, as almost every stage of the cement value chain produced CO2 emissions, with the bulk of emissions emanating from the firing process during clinker production in the kiln.
Arvind Pathak, Group Managing Director of Dangote Cement says the cement industry is responsible for seven per cent of global carbon emissions.
He says the cement industry, which provides a vital material to meet Africa’s infrastructure deficit, generates seven per cent of the world’s CO2 emissions as the cement value chain involves the intensive use of energy for raw materials’ mining, crushing, mixing, drying, firing, clinker grinding, packaging and dispatch to customers.
He noted that placed a critical demand on fuel sourcing and controlled energy usage, as almost every stage of the cement value chain produced CO2 emissions, with the bulk of emissions emanating from the firing process during clinker production in the kiln.
Arvind Pathak, Group Managing Director of Dangote Cement says the cement industry is responsible for seven per cent of global carbon emissions.
He says the cement industry, which provides a vital material to meet Africa’s infrastructure deficit, generates seven per cent of the world’s CO2 emissions as the cement value chain involves the intensive use of energy for raw materials’ mining, crushing, mixing, drying, firing, clinker grinding, packaging and dispatch to customers.
He noted that placed a critical demand on fuel sourcing and controlled energy usage, as almost every stage of the cement value chain produced CO2 emissions, with the bulk of emissions emanating from the firing process during clinker production in the kiln.
Arvind Pathak, Group Managing Director of Dangote Cement says the cement industry is responsible for seven per cent of global carbon emissions.
He says the cement industry, which provides a vital material to meet Africa’s infrastructure deficit, generates seven per cent of the world’s CO2 emissions as the cement value chain involves the intensive use of energy for raw materials’ mining, crushing, mixing, drying, firing, clinker grinding, packaging and dispatch to customers.
He noted that placed a critical demand on fuel sourcing and controlled energy usage, as almost every stage of the cement value chain produced CO2 emissions, with the bulk of emissions emanating from the firing process during clinker production in the kiln.
Arvind Pathak, Group Managing Director of Dangote Cement says the cement industry is responsible for seven per cent of global carbon emissions.
He says the cement industry, which provides a vital material to meet Africa’s infrastructure deficit, generates seven per cent of the world’s CO2 emissions as the cement value chain involves the intensive use of energy for raw materials’ mining, crushing, mixing, drying, firing, clinker grinding, packaging and dispatch to customers.
He noted that placed a critical demand on fuel sourcing and controlled energy usage, as almost every stage of the cement value chain produced CO2 emissions, with the bulk of emissions emanating from the firing process during clinker production in the kiln.
Venice will trial an admission fee and a daily limit on visitor numbers in its overcrowded centre from next April, in a scheme the Italian city’s mayor has hailed as a world first.
Local authorities says the system is designed to manage the flow of tourists when visitor numbers are at their peak.
The fee will also apply for the remaining weekends in May and June, as well as the first two weekends of July.
Venice will trial an admission fee and a daily limit on visitor numbers in its overcrowded centre from next April, in a scheme the Italian city’s mayor has hailed as a world first.
Local authorities says the system is designed to manage the flow of tourists when visitor numbers are at their peak.
The fee will also apply for the remaining weekends in May and June, as well as the first two weekends of July.
Venice will trial an admission fee and a daily limit on visitor numbers in its overcrowded centre from next April, in a scheme the Italian city’s mayor has hailed as a world first.
Local authorities says the system is designed to manage the flow of tourists when visitor numbers are at their peak.
The fee will also apply for the remaining weekends in May and June, as well as the first two weekends of July.
Venice will trial an admission fee and a daily limit on visitor numbers in its overcrowded centre from next April, in a scheme the Italian city’s mayor has hailed as a world first.
Local authorities says the system is designed to manage the flow of tourists when visitor numbers are at their peak.
The fee will also apply for the remaining weekends in May and June, as well as the first two weekends of July.
Venice will trial an admission fee and a daily limit on visitor numbers in its overcrowded centre from next April, in a scheme the Italian city’s mayor has hailed as a world first.
Local authorities says the system is designed to manage the flow of tourists when visitor numbers are at their peak.
The fee will also apply for the remaining weekends in May and June, as well as the first two weekends of July.
Venice will trial an admission fee and a daily limit on visitor numbers in its overcrowded centre from next April, in a scheme the Italian city’s mayor has hailed as a world first.
Local authorities says the system is designed to manage the flow of tourists when visitor numbers are at their peak.
The fee will also apply for the remaining weekends in May and June, as well as the first two weekends of July.
New Zealand’s National Party has agreed to form a coalition government with two other right-leaning parties, heralding a shift towards lower taxes and less government bureaucracy.
The centre-right National Party signed an agreement to govern in a coalition with the classically liberal ACT and populist New Zealand First parties nearly six weeks after the country held its general elections.
The formal agreement comes after National Party leader Christopher Luxon announced that the three parties had agreed to form an alliance.
New Zealand’s National Party has agreed to form a coalition government with two other right-leaning parties, heralding a shift towards lower taxes and less government bureaucracy.
The centre-right National Party signed an agreement to govern in a coalition with the classically liberal ACT and populist New Zealand First parties nearly six weeks after the country held its general elections.
The formal agreement comes after National Party leader Christopher Luxon announced that the three parties had agreed to form an alliance.
New Zealand’s National Party has agreed to form a coalition government with two other right-leaning parties, heralding a shift towards lower taxes and less government bureaucracy.
The centre-right National Party signed an agreement to govern in a coalition with the classically liberal ACT and populist New Zealand First parties nearly six weeks after the country held its general elections.
The formal agreement comes after National Party leader Christopher Luxon announced that the three parties had agreed to form an alliance.
New Zealand’s National Party has agreed to form a coalition government with two other right-leaning parties, heralding a shift towards lower taxes and less government bureaucracy.
The centre-right National Party signed an agreement to govern in a coalition with the classically liberal ACT and populist New Zealand First parties nearly six weeks after the country held its general elections.
The formal agreement comes after National Party leader Christopher Luxon announced that the three parties had agreed to form an alliance.
New Zealand’s National Party has agreed to form a coalition government with two other right-leaning parties, heralding a shift towards lower taxes and less government bureaucracy.
The centre-right National Party signed an agreement to govern in a coalition with the classically liberal ACT and populist New Zealand First parties nearly six weeks after the country held its general elections.
The formal agreement comes after National Party leader Christopher Luxon announced that the three parties had agreed to form an alliance.
New Zealand’s National Party has agreed to form a coalition government with two other right-leaning parties, heralding a shift towards lower taxes and less government bureaucracy.
The centre-right National Party signed an agreement to govern in a coalition with the classically liberal ACT and populist New Zealand First parties nearly six weeks after the country held its general elections.
The formal agreement comes after National Party leader Christopher Luxon announced that the three parties had agreed to form an alliance.
Mali's military government has signed an agreement with Russia that includes a gold refinery project in the Malian capital Bamako.
The deal involves building the refinery to process 200 tonnes of gold annually.It is valid for four years and does not specify the timelines for the construction.
Finance Minister Alousséni Sanou says the project will allow Mali to control all gold production in the country and correctly apply all taxes and duties.
Mali has strengthened its relations with Russia in recent years following the military coup in 2021 and the withdrawal of French forces from the country a year later.
Mali's military government has signed an agreement with Russia that includes a gold refinery project in the Malian capital Bamako.
The deal involves building the refinery to process 200 tonnes of gold annually.It is valid for four years and does not specify the timelines for the construction.
Finance Minister Alousséni Sanou says the project will allow Mali to control all gold production in the country and correctly apply all taxes and duties.
Mali has strengthened its relations with Russia in recent years following the military coup in 2021 and the withdrawal of French forces from the country a year later.
Mali's military government has signed an agreement with Russia that includes a gold refinery project in the Malian capital Bamako.
The deal involves building the refinery to process 200 tonnes of gold annually.It is valid for four years and does not specify the timelines for the construction.
Finance Minister Alousséni Sanou says the project will allow Mali to control all gold production in the country and correctly apply all taxes and duties.
Mali has strengthened its relations with Russia in recent years following the military coup in 2021 and the withdrawal of French forces from the country a year later.
Mali's military government has signed an agreement with Russia that includes a gold refinery project in the Malian capital Bamako.
The deal involves building the refinery to process 200 tonnes of gold annually.It is valid for four years and does not specify the timelines for the construction.
Finance Minister Alousséni Sanou says the project will allow Mali to control all gold production in the country and correctly apply all taxes and duties.
Mali has strengthened its relations with Russia in recent years following the military coup in 2021 and the withdrawal of French forces from the country a year later.
Mali's military government has signed an agreement with Russia that includes a gold refinery project in the Malian capital Bamako.
The deal involves building the refinery to process 200 tonnes of gold annually.It is valid for four years and does not specify the timelines for the construction.
Finance Minister Alousséni Sanou says the project will allow Mali to control all gold production in the country and correctly apply all taxes and duties.
Mali has strengthened its relations with Russia in recent years following the military coup in 2021 and the withdrawal of French forces from the country a year later.
Mali's military government has signed an agreement with Russia that includes a gold refinery project in the Malian capital Bamako.
The deal involves building the refinery to process 200 tonnes of gold annually.It is valid for four years and does not specify the timelines for the construction.
Finance Minister Alousséni Sanou says the project will allow Mali to control all gold production in the country and correctly apply all taxes and duties.
Mali has strengthened its relations with Russia in recent years following the military coup in 2021 and the withdrawal of French forces from the country a year later.
Niger Republic junta led by General Abdourahmane Tchiani has sued authorities of the Head of State and Government of the Economic Community of West African States over sanctions levied by the West African bloc on the country following the takeover of power by the military.
The coup leaders asked ECOWAS court to immediately lift the sanctions imposed on them by their West African neighbours.
Niger Junta argued that the sanctions imposed by ECOWAS were extremely stringent and targeted at Nigeriens.
Niger Junta also asked the court to declare its competence to examine the case and declare the application admissible by the court’s texts.
Niger Republic junta led by General Abdourahmane Tchiani has sued authorities of the Head of State and Government of the Economic Community of West African States over sanctions levied by the West African bloc on the country following the takeover of power by the military.
The coup leaders asked ECOWAS court to immediately lift the sanctions imposed on them by their West African neighbours.
Niger Junta argued that the sanctions imposed by ECOWAS were extremely stringent and targeted at Nigeriens.
Niger Junta also asked the court to declare its competence to examine the case and declare the application admissible by the court’s texts.
Niger Republic junta led by General Abdourahmane Tchiani has sued authorities of the Head of State and Government of the Economic Community of West African States over sanctions levied by the West African bloc on the country following the takeover of power by the military.
The coup leaders asked ECOWAS court to immediately lift the sanctions imposed on them by their West African neighbours.
Niger Junta argued that the sanctions imposed by ECOWAS were extremely stringent and targeted at Nigeriens.
Niger Junta also asked the court to declare its competence to examine the case and declare the application admissible by the court’s texts.
Niger Republic junta led by General Abdourahmane Tchiani has sued authorities of the Head of State and Government of the Economic Community of West African States over sanctions levied by the West African bloc on the country following the takeover of power by the military.
The coup leaders asked ECOWAS court to immediately lift the sanctions imposed on them by their West African neighbours.
Niger Junta argued that the sanctions imposed by ECOWAS were extremely stringent and targeted at Nigeriens.
Niger Junta also asked the court to declare its competence to examine the case and declare the application admissible by the court’s texts.
Niger Republic junta led by General Abdourahmane Tchiani has sued authorities of the Head of State and Government of the Economic Community of West African States over sanctions levied by the West African bloc on the country following the takeover of power by the military.
The coup leaders asked ECOWAS court to immediately lift the sanctions imposed on them by their West African neighbours.
Niger Junta argued that the sanctions imposed by ECOWAS were extremely stringent and targeted at Nigeriens.
Niger Junta also asked the court to declare its competence to examine the case and declare the application admissible by the court’s texts.
Niger Republic junta led by General Abdourahmane Tchiani has sued authorities of the Head of State and Government of the Economic Community of West African States over sanctions levied by the West African bloc on the country following the takeover of power by the military.
The coup leaders asked ECOWAS court to immediately lift the sanctions imposed on them by their West African neighbours.
Niger Junta argued that the sanctions imposed by ECOWAS were extremely stringent and targeted at Nigeriens.
Niger Junta also asked the court to declare its competence to examine the case and declare the application admissible by the court’s texts.
The Kenyan president says his government is ready to privatise 35 state-owned companies which he said were currently functioning inefficiently due to bureaucracy.
President William Ruto says 100 other firms were also being looked at for possible privatisation in a bid to boost productivity.
Mr Ruto's announcement comes as the country is facing severe economic challenges including high inflation and rising levels of debt.
The IMF recently agreed to a loan of close to $1bn and urged reforms in public sector firms including the power company and Kenya Airways, which suffered record losses last year.
The Kenyan president says his government is ready to privatise 35 state-owned companies which he said were currently functioning inefficiently due to bureaucracy.
President William Ruto says 100 other firms were also being looked at for possible privatisation in a bid to boost productivity.
Mr Ruto's announcement comes as the country is facing severe economic challenges including high inflation and rising levels of debt.
The IMF recently agreed to a loan of close to $1bn and urged reforms in public sector firms including the power company and Kenya Airways, which suffered record losses last year.
The Kenyan president says his government is ready to privatise 35 state-owned companies which he said were currently functioning inefficiently due to bureaucracy.
President William Ruto says 100 other firms were also being looked at for possible privatisation in a bid to boost productivity.
Mr Ruto's announcement comes as the country is facing severe economic challenges including high inflation and rising levels of debt.
The IMF recently agreed to a loan of close to $1bn and urged reforms in public sector firms including the power company and Kenya Airways, which suffered record losses last year.
The Kenyan president says his government is ready to privatise 35 state-owned companies which he said were currently functioning inefficiently due to bureaucracy.
President William Ruto says 100 other firms were also being looked at for possible privatisation in a bid to boost productivity.
Mr Ruto's announcement comes as the country is facing severe economic challenges including high inflation and rising levels of debt.
The IMF recently agreed to a loan of close to $1bn and urged reforms in public sector firms including the power company and Kenya Airways, which suffered record losses last year.
The Kenyan president says his government is ready to privatise 35 state-owned companies which he said were currently functioning inefficiently due to bureaucracy.
President William Ruto says 100 other firms were also being looked at for possible privatisation in a bid to boost productivity.
Mr Ruto's announcement comes as the country is facing severe economic challenges including high inflation and rising levels of debt.
The IMF recently agreed to a loan of close to $1bn and urged reforms in public sector firms including the power company and Kenya Airways, which suffered record losses last year.
The Kenyan president says his government is ready to privatise 35 state-owned companies which he said were currently functioning inefficiently due to bureaucracy.
President William Ruto says 100 other firms were also being looked at for possible privatisation in a bid to boost productivity.
Mr Ruto's announcement comes as the country is facing severe economic challenges including high inflation and rising levels of debt.
The IMF recently agreed to a loan of close to $1bn and urged reforms in public sector firms including the power company and Kenya Airways, which suffered record losses last year.
The Organisation for the Petroleum Exporting Countries has put forward the meeting to finalise output levels for 2024 by four days to Nov. 30 due to struggles over output quotas for African members.
Angola and Nigeria are seeking extra time due to lower targets imposed by more powerful members.
Senior Vice President at Rystad Energy, Jorge Leon says the postponement indicates difficulties within the OPEC+ group to reach an agreement to cut production.
The meeting, which includes major producers Saudi Arabia, Russia and other allies and members of OPEC, is expected to consider further changes to a deal that already limits supply into 2024, according to analysts and OPEC+ sources.
The Organisation for the Petroleum Exporting Countries has put forward the meeting to finalise output levels for 2024 by four days to Nov. 30 due to struggles over output quotas for African members.
Angola and Nigeria are seeking extra time due to lower targets imposed by more powerful members.
Senior Vice President at Rystad Energy, Jorge Leon says the postponement indicates difficulties within the OPEC+ group to reach an agreement to cut production.
The meeting, which includes major producers Saudi Arabia, Russia and other allies and members of OPEC, is expected to consider further changes to a deal that already limits supply into 2024, according to analysts and OPEC+ sources.
The Organisation for the Petroleum Exporting Countries has put forward the meeting to finalise output levels for 2024 by four days to Nov. 30 due to struggles over output quotas for African members.
Angola and Nigeria are seeking extra time due to lower targets imposed by more powerful members.
Senior Vice President at Rystad Energy, Jorge Leon says the postponement indicates difficulties within the OPEC+ group to reach an agreement to cut production.
The meeting, which includes major producers Saudi Arabia, Russia and other allies and members of OPEC, is expected to consider further changes to a deal that already limits supply into 2024, according to analysts and OPEC+ sources.
The Organisation for the Petroleum Exporting Countries has put forward the meeting to finalise output levels for 2024 by four days to Nov. 30 due to struggles over output quotas for African members.
Angola and Nigeria are seeking extra time due to lower targets imposed by more powerful members.
Senior Vice President at Rystad Energy, Jorge Leon says the postponement indicates difficulties within the OPEC+ group to reach an agreement to cut production.
The meeting, which includes major producers Saudi Arabia, Russia and other allies and members of OPEC, is expected to consider further changes to a deal that already limits supply into 2024, according to analysts and OPEC+ sources.
The Organisation for the Petroleum Exporting Countries has put forward the meeting to finalise output levels for 2024 by four days to Nov. 30 due to struggles over output quotas for African members.
Angola and Nigeria are seeking extra time due to lower targets imposed by more powerful members.
Senior Vice President at Rystad Energy, Jorge Leon says the postponement indicates difficulties within the OPEC+ group to reach an agreement to cut production.
The meeting, which includes major producers Saudi Arabia, Russia and other allies and members of OPEC, is expected to consider further changes to a deal that already limits supply into 2024, according to analysts and OPEC+ sources.
The Organisation for the Petroleum Exporting Countries has put forward the meeting to finalise output levels for 2024 by four days to Nov. 30 due to struggles over output quotas for African members.
Angola and Nigeria are seeking extra time due to lower targets imposed by more powerful members.
Senior Vice President at Rystad Energy, Jorge Leon says the postponement indicates difficulties within the OPEC+ group to reach an agreement to cut production.
The meeting, which includes major producers Saudi Arabia, Russia and other allies and members of OPEC, is expected to consider further changes to a deal that already limits supply into 2024, according to analysts and OPEC+ sources.
Governor Yahaya Bello of Kogi State has directed the freezing of all state and local government accounts with immediate effect.
The Commissioner for Finance, Asiru Idris, says no imprest or any form of payment should be made to anyone from the Government Account henceforth.
He says all standing orders and investment instructions are hereby cancelled forthwith.
Governor Yahaya Bello of Kogi State has directed the freezing of all state and local government accounts with immediate effect.
The Commissioner for Finance, Asiru Idris, says no imprest or any form of payment should be made to anyone from the Government Account henceforth.
He says all standing orders and investment instructions are hereby cancelled forthwith.
Governor Yahaya Bello of Kogi State has directed the freezing of all state and local government accounts with immediate effect.
The Commissioner for Finance, Asiru Idris, says no imprest or any form of payment should be made to anyone from the Government Account henceforth.
He says all standing orders and investment instructions are hereby cancelled forthwith.
Governor Yahaya Bello of Kogi State has directed the freezing of all state and local government accounts with immediate effect.
The Commissioner for Finance, Asiru Idris, says no imprest or any form of payment should be made to anyone from the Government Account henceforth.
He says all standing orders and investment instructions are hereby cancelled forthwith.
Governor Yahaya Bello of Kogi State has directed the freezing of all state and local government accounts with immediate effect.
The Commissioner for Finance, Asiru Idris, says no imprest or any form of payment should be made to anyone from the Government Account henceforth.
He says all standing orders and investment instructions are hereby cancelled forthwith.
Governor Yahaya Bello of Kogi State has directed the freezing of all state and local government accounts with immediate effect.
The Commissioner for Finance, Asiru Idris, says no imprest or any form of payment should be made to anyone from the Government Account henceforth.
He says all standing orders and investment instructions are hereby cancelled forthwith.
The House of Representatives is urging the Federal Government to expedite action on the prevention of flood disasters in Nigeria, intervene to provide relief to flood victims, monitor the management and prevention of flooding, and educate Nigerians on ways to prevent flooding.
The House recognised that the flooding in the country was attributed to heavy rain and the impact of climate change which deserve urgent, proper planning and proactive actions to prevent damages.
The lawmakers are concerned that the prevalence of floods in Nigeria requires urgent attention as delays could result in the destruction of houses and farms, food shortages, and a humanitarian crisis.
The House of Representatives is urging the Federal Government to expedite action on the prevention of flood disasters in Nigeria, intervene to provide relief to flood victims, monitor the management and prevention of flooding, and educate Nigerians on ways to prevent flooding.
The House recognised that the flooding in the country was attributed to heavy rain and the impact of climate change which deserve urgent, proper planning and proactive actions to prevent damages.
The lawmakers are concerned that the prevalence of floods in Nigeria requires urgent attention as delays could result in the destruction of houses and farms, food shortages, and a humanitarian crisis.
The House of Representatives is urging the Federal Government to expedite action on the prevention of flood disasters in Nigeria, intervene to provide relief to flood victims, monitor the management and prevention of flooding, and educate Nigerians on ways to prevent flooding.
The House recognised that the flooding in the country was attributed to heavy rain and the impact of climate change which deserve urgent, proper planning and proactive actions to prevent damages.
The lawmakers are concerned that the prevalence of floods in Nigeria requires urgent attention as delays could result in the destruction of houses and farms, food shortages, and a humanitarian crisis.
The House of Representatives is urging the Federal Government to expedite action on the prevention of flood disasters in Nigeria, intervene to provide relief to flood victims, monitor the management and prevention of flooding, and educate Nigerians on ways to prevent flooding.
The House recognised that the flooding in the country was attributed to heavy rain and the impact of climate change which deserve urgent, proper planning and proactive actions to prevent damages.
The lawmakers are concerned that the prevalence of floods in Nigeria requires urgent attention as delays could result in the destruction of houses and farms, food shortages, and a humanitarian crisis.
The House of Representatives is urging the Federal Government to expedite action on the prevention of flood disasters in Nigeria, intervene to provide relief to flood victims, monitor the management and prevention of flooding, and educate Nigerians on ways to prevent flooding.
The House recognised that the flooding in the country was attributed to heavy rain and the impact of climate change which deserve urgent, proper planning and proactive actions to prevent damages.
The lawmakers are concerned that the prevalence of floods in Nigeria requires urgent attention as delays could result in the destruction of houses and farms, food shortages, and a humanitarian crisis.
The House of Representatives is urging the Federal Government to expedite action on the prevention of flood disasters in Nigeria, intervene to provide relief to flood victims, monitor the management and prevention of flooding, and educate Nigerians on ways to prevent flooding.
The House recognised that the flooding in the country was attributed to heavy rain and the impact of climate change which deserve urgent, proper planning and proactive actions to prevent damages.
The lawmakers are concerned that the prevalence of floods in Nigeria requires urgent attention as delays could result in the destruction of houses and farms, food shortages, and a humanitarian crisis.
Iran has unveiled an upgraded version of its hypersonic missile in a military exhibition for the country’s supreme leader.
Ayatollah Ali Khamenei visited the aerospace division of the Islamic Revolutionary Guard Corps in Tehran, where a more advanced version of the Fattah hypersonic missile was put on display along with an array of arms, including the Iranian-made Gaza drone.
The Iranian state media says the Fattah II missile is a hypersonic glide vehicle (HGV), a projectile that glides to its target after the initial launch, offering substantially more manoeuvrability compared to a ballistic warhead travelling in a more predictable arc pattern.
Iran has unveiled an upgraded version of its hypersonic missile in a military exhibition for the country’s supreme leader.
Ayatollah Ali Khamenei visited the aerospace division of the Islamic Revolutionary Guard Corps in Tehran, where a more advanced version of the Fattah hypersonic missile was put on display along with an array of arms, including the Iranian-made Gaza drone.
The Iranian state media says the Fattah II missile is a hypersonic glide vehicle (HGV), a projectile that glides to its target after the initial launch, offering substantially more manoeuvrability compared to a ballistic warhead travelling in a more predictable arc pattern.
Iran has unveiled an upgraded version of its hypersonic missile in a military exhibition for the country’s supreme leader.
Ayatollah Ali Khamenei visited the aerospace division of the Islamic Revolutionary Guard Corps in Tehran, where a more advanced version of the Fattah hypersonic missile was put on display along with an array of arms, including the Iranian-made Gaza drone.
The Iranian state media says the Fattah II missile is a hypersonic glide vehicle (HGV), a projectile that glides to its target after the initial launch, offering substantially more manoeuvrability compared to a ballistic warhead travelling in a more predictable arc pattern.
Iran has unveiled an upgraded version of its hypersonic missile in a military exhibition for the country’s supreme leader.
Ayatollah Ali Khamenei visited the aerospace division of the Islamic Revolutionary Guard Corps in Tehran, where a more advanced version of the Fattah hypersonic missile was put on display along with an array of arms, including the Iranian-made Gaza drone.
The Iranian state media says the Fattah II missile is a hypersonic glide vehicle (HGV), a projectile that glides to its target after the initial launch, offering substantially more manoeuvrability compared to a ballistic warhead travelling in a more predictable arc pattern.
Iran has unveiled an upgraded version of its hypersonic missile in a military exhibition for the country’s supreme leader.
Ayatollah Ali Khamenei visited the aerospace division of the Islamic Revolutionary Guard Corps in Tehran, where a more advanced version of the Fattah hypersonic missile was put on display along with an array of arms, including the Iranian-made Gaza drone.
The Iranian state media says the Fattah II missile is a hypersonic glide vehicle (HGV), a projectile that glides to its target after the initial launch, offering substantially more manoeuvrability compared to a ballistic warhead travelling in a more predictable arc pattern.
Iran has unveiled an upgraded version of its hypersonic missile in a military exhibition for the country’s supreme leader.
Ayatollah Ali Khamenei visited the aerospace division of the Islamic Revolutionary Guard Corps in Tehran, where a more advanced version of the Fattah hypersonic missile was put on display along with an array of arms, including the Iranian-made Gaza drone.
The Iranian state media says the Fattah II missile is a hypersonic glide vehicle (HGV), a projectile that glides to its target after the initial launch, offering substantially more manoeuvrability compared to a ballistic warhead travelling in a more predictable arc pattern.
Jordan says that it won’t sign a deal to provide energy to Israel in exchange for water – an agreement that was planned to be ratified last month.
Jordanian Foreign Minister Ayman Safadi says they had a regional dialogue about regional projects and it will not proceed.
Jordan and Israel have held a fragile peace agreement since 1994, which returned some 380km (236 miles) of Jordan’s occupied land from Israeli control and resolved long-standing water disputes.
Jordan says that it won’t sign a deal to provide energy to Israel in exchange for water – an agreement that was planned to be ratified last month.
Jordanian Foreign Minister Ayman Safadi says they had a regional dialogue about regional projects and it will not proceed.
Jordan and Israel have held a fragile peace agreement since 1994, which returned some 380km (236 miles) of Jordan’s occupied land from Israeli control and resolved long-standing water disputes.
Jordan says that it won’t sign a deal to provide energy to Israel in exchange for water – an agreement that was planned to be ratified last month.
Jordanian Foreign Minister Ayman Safadi says they had a regional dialogue about regional projects and it will not proceed.
Jordan and Israel have held a fragile peace agreement since 1994, which returned some 380km (236 miles) of Jordan’s occupied land from Israeli control and resolved long-standing water disputes.
Jordan says that it won’t sign a deal to provide energy to Israel in exchange for water – an agreement that was planned to be ratified last month.
Jordanian Foreign Minister Ayman Safadi says they had a regional dialogue about regional projects and it will not proceed.
Jordan and Israel have held a fragile peace agreement since 1994, which returned some 380km (236 miles) of Jordan’s occupied land from Israeli control and resolved long-standing water disputes.
Jordan says that it won’t sign a deal to provide energy to Israel in exchange for water – an agreement that was planned to be ratified last month.
Jordanian Foreign Minister Ayman Safadi says they had a regional dialogue about regional projects and it will not proceed.
Jordan and Israel have held a fragile peace agreement since 1994, which returned some 380km (236 miles) of Jordan’s occupied land from Israeli control and resolved long-standing water disputes.
Jordan says that it won’t sign a deal to provide energy to Israel in exchange for water – an agreement that was planned to be ratified last month.
Jordanian Foreign Minister Ayman Safadi says they had a regional dialogue about regional projects and it will not proceed.
Jordan and Israel have held a fragile peace agreement since 1994, which returned some 380km (236 miles) of Jordan’s occupied land from Israeli control and resolved long-standing water disputes.
United States Secretary of State Antony Blinken has asked Israel to take urgent steps to stop violence being carried out by Israeli settlers against Palestinians in the occupied West Bank.
Blinken stressed the urgent need for affirmative steps to de-escalate tensions in the West Bank, including by confronting rising levels of settler extremist violence.
Blinken also discussed efforts to “augment and accelerate” the delivery of humanitarian assistance into Gaza, secure the release of captives held by Hamas, and prevent the war from widening into a broader conflict.
United States Secretary of State Antony Blinken has asked Israel to take urgent steps to stop violence being carried out by Israeli settlers against Palestinians in the occupied West Bank.
Blinken stressed the urgent need for affirmative steps to de-escalate tensions in the West Bank, including by confronting rising levels of settler extremist violence.
Blinken also discussed efforts to “augment and accelerate” the delivery of humanitarian assistance into Gaza, secure the release of captives held by Hamas, and prevent the war from widening into a broader conflict.
United States Secretary of State Antony Blinken has asked Israel to take urgent steps to stop violence being carried out by Israeli settlers against Palestinians in the occupied West Bank.
Blinken stressed the urgent need for affirmative steps to de-escalate tensions in the West Bank, including by confronting rising levels of settler extremist violence.
Blinken also discussed efforts to “augment and accelerate” the delivery of humanitarian assistance into Gaza, secure the release of captives held by Hamas, and prevent the war from widening into a broader conflict.
United States Secretary of State Antony Blinken has asked Israel to take urgent steps to stop violence being carried out by Israeli settlers against Palestinians in the occupied West Bank.
Blinken stressed the urgent need for affirmative steps to de-escalate tensions in the West Bank, including by confronting rising levels of settler extremist violence.
Blinken also discussed efforts to “augment and accelerate” the delivery of humanitarian assistance into Gaza, secure the release of captives held by Hamas, and prevent the war from widening into a broader conflict.
United States Secretary of State Antony Blinken has asked Israel to take urgent steps to stop violence being carried out by Israeli settlers against Palestinians in the occupied West Bank.
Blinken stressed the urgent need for affirmative steps to de-escalate tensions in the West Bank, including by confronting rising levels of settler extremist violence.
Blinken also discussed efforts to “augment and accelerate” the delivery of humanitarian assistance into Gaza, secure the release of captives held by Hamas, and prevent the war from widening into a broader conflict.
United States Secretary of State Antony Blinken has asked Israel to take urgent steps to stop violence being carried out by Israeli settlers against Palestinians in the occupied West Bank.
Blinken stressed the urgent need for affirmative steps to de-escalate tensions in the West Bank, including by confronting rising levels of settler extremist violence.
Blinken also discussed efforts to “augment and accelerate” the delivery of humanitarian assistance into Gaza, secure the release of captives held by Hamas, and prevent the war from widening into a broader conflict.
Malawi's President Lazarus Chakwera has suspended with immediate effect all international travel for himself and his government in a bid to save money.
Malawi's economy has been undergoing turbulent times, characterised by an acute shortage of petrol and diesel, as well as high inflation.
Mr Chakwera says the measures would remain in place until the end of the financial year in March 2024.
The president has asked the finance minister to make provisions for a reasonable wage increase for all civil servants in the next budget review.
He has also ordered a lowering of income tax on individuals in the upcoming budget, to help workers whose incomes have lost value.
Malawi's President Lazarus Chakwera has suspended with immediate effect all international travel for himself and his government in a bid to save money.
Malawi's economy has been undergoing turbulent times, characterised by an acute shortage of petrol and diesel, as well as high inflation.
Mr Chakwera says the measures would remain in place until the end of the financial year in March 2024.
The president has asked the finance minister to make provisions for a reasonable wage increase for all civil servants in the next budget review.
He has also ordered a lowering of income tax on individuals in the upcoming budget, to help workers whose incomes have lost value.
Malawi's President Lazarus Chakwera has suspended with immediate effect all international travel for himself and his government in a bid to save money.
Malawi's economy has been undergoing turbulent times, characterised by an acute shortage of petrol and diesel, as well as high inflation.
Mr Chakwera says the measures would remain in place until the end of the financial year in March 2024.
The president has asked the finance minister to make provisions for a reasonable wage increase for all civil servants in the next budget review.
He has also ordered a lowering of income tax on individuals in the upcoming budget, to help workers whose incomes have lost value.
Malawi's President Lazarus Chakwera has suspended with immediate effect all international travel for himself and his government in a bid to save money.
Malawi's economy has been undergoing turbulent times, characterised by an acute shortage of petrol and diesel, as well as high inflation.
Mr Chakwera says the measures would remain in place until the end of the financial year in March 2024.
The president has asked the finance minister to make provisions for a reasonable wage increase for all civil servants in the next budget review.
He has also ordered a lowering of income tax on individuals in the upcoming budget, to help workers whose incomes have lost value.
Malawi's President Lazarus Chakwera has suspended with immediate effect all international travel for himself and his government in a bid to save money.
Malawi's economy has been undergoing turbulent times, characterised by an acute shortage of petrol and diesel, as well as high inflation.
Mr Chakwera says the measures would remain in place until the end of the financial year in March 2024.
The president has asked the finance minister to make provisions for a reasonable wage increase for all civil servants in the next budget review.
He has also ordered a lowering of income tax on individuals in the upcoming budget, to help workers whose incomes have lost value.
Malawi's President Lazarus Chakwera has suspended with immediate effect all international travel for himself and his government in a bid to save money.
Malawi's economy has been undergoing turbulent times, characterised by an acute shortage of petrol and diesel, as well as high inflation.
Mr Chakwera says the measures would remain in place until the end of the financial year in March 2024.
The president has asked the finance minister to make provisions for a reasonable wage increase for all civil servants in the next budget review.
He has also ordered a lowering of income tax on individuals in the upcoming budget, to help workers whose incomes have lost value.
South African authorities have warned of a heatwave, with higher-than-average maximum temperatures expected in some parts of the country this week.
The weather service says that heatwave conditions resulting in persistently high temperatures were expected in parts of Eastern Cape, Mpumalanga, Limpopo, Gauteng and KwaZulu-Natal provinces.
The authorities have urged people to take precautions by avoiding exposure to the sun and drinking lots of water among other measures.
The heatwave forecast comes a week after parts of Gauteng province were struck by a hail storm.
South African authorities have warned of a heatwave, with higher-than-average maximum temperatures expected in some parts of the country this week.
The weather service says that heatwave conditions resulting in persistently high temperatures were expected in parts of Eastern Cape, Mpumalanga, Limpopo, Gauteng and KwaZulu-Natal provinces.
The authorities have urged people to take precautions by avoiding exposure to the sun and drinking lots of water among other measures.
The heatwave forecast comes a week after parts of Gauteng province were struck by a hail storm.
South African authorities have warned of a heatwave, with higher-than-average maximum temperatures expected in some parts of the country this week.
The weather service says that heatwave conditions resulting in persistently high temperatures were expected in parts of Eastern Cape, Mpumalanga, Limpopo, Gauteng and KwaZulu-Natal provinces.
The authorities have urged people to take precautions by avoiding exposure to the sun and drinking lots of water among other measures.
The heatwave forecast comes a week after parts of Gauteng province were struck by a hail storm.
South African authorities have warned of a heatwave, with higher-than-average maximum temperatures expected in some parts of the country this week.
The weather service says that heatwave conditions resulting in persistently high temperatures were expected in parts of Eastern Cape, Mpumalanga, Limpopo, Gauteng and KwaZulu-Natal provinces.
The authorities have urged people to take precautions by avoiding exposure to the sun and drinking lots of water among other measures.
The heatwave forecast comes a week after parts of Gauteng province were struck by a hail storm.
South African authorities have warned of a heatwave, with higher-than-average maximum temperatures expected in some parts of the country this week.
The weather service says that heatwave conditions resulting in persistently high temperatures were expected in parts of Eastern Cape, Mpumalanga, Limpopo, Gauteng and KwaZulu-Natal provinces.
The authorities have urged people to take precautions by avoiding exposure to the sun and drinking lots of water among other measures.
The heatwave forecast comes a week after parts of Gauteng province were struck by a hail storm.
South African authorities have warned of a heatwave, with higher-than-average maximum temperatures expected in some parts of the country this week.
The weather service says that heatwave conditions resulting in persistently high temperatures were expected in parts of Eastern Cape, Mpumalanga, Limpopo, Gauteng and KwaZulu-Natal provinces.
The authorities have urged people to take precautions by avoiding exposure to the sun and drinking lots of water among other measures.
The heatwave forecast comes a week after parts of Gauteng province were struck by a hail storm.
Sun Africa LLC, an international organisation that supports Africa’s energy needs, has pledged to commit about $2.2bn for the development of Nigeria’s power sector.
The Federal Ministry of Power says the international firm would support the Federal Government in providing vital power infrastructure for Nigeria, adding that the commitment had been formalised.
Minister of Power, Adebayo Adelabu, stated that the commitment from all parties involved would ensure a close collaboration to execute the renewable energy infrastructure, addressing the nation’s electricity requirements.
Sun Africa LLC, an international organisation that supports Africa’s energy needs, has pledged to commit about $2.2bn for the development of Nigeria’s power sector.
The Federal Ministry of Power says the international firm would support the Federal Government in providing vital power infrastructure for Nigeria, adding that the commitment had been formalised.
Minister of Power, Adebayo Adelabu, stated that the commitment from all parties involved would ensure a close collaboration to execute the renewable energy infrastructure, addressing the nation’s electricity requirements.
Sun Africa LLC, an international organisation that supports Africa’s energy needs, has pledged to commit about $2.2bn for the development of Nigeria’s power sector.
The Federal Ministry of Power says the international firm would support the Federal Government in providing vital power infrastructure for Nigeria, adding that the commitment had been formalised.
Minister of Power, Adebayo Adelabu, stated that the commitment from all parties involved would ensure a close collaboration to execute the renewable energy infrastructure, addressing the nation’s electricity requirements.
Sun Africa LLC, an international organisation that supports Africa’s energy needs, has pledged to commit about $2.2bn for the development of Nigeria’s power sector.
The Federal Ministry of Power says the international firm would support the Federal Government in providing vital power infrastructure for Nigeria, adding that the commitment had been formalised.
Minister of Power, Adebayo Adelabu, stated that the commitment from all parties involved would ensure a close collaboration to execute the renewable energy infrastructure, addressing the nation’s electricity requirements.
Sun Africa LLC, an international organisation that supports Africa’s energy needs, has pledged to commit about $2.2bn for the development of Nigeria’s power sector.
The Federal Ministry of Power says the international firm would support the Federal Government in providing vital power infrastructure for Nigeria, adding that the commitment had been formalised.
Minister of Power, Adebayo Adelabu, stated that the commitment from all parties involved would ensure a close collaboration to execute the renewable energy infrastructure, addressing the nation’s electricity requirements.
Sun Africa LLC, an international organisation that supports Africa’s energy needs, has pledged to commit about $2.2bn for the development of Nigeria’s power sector.
The Federal Ministry of Power says the international firm would support the Federal Government in providing vital power infrastructure for Nigeria, adding that the commitment had been formalised.
Minister of Power, Adebayo Adelabu, stated that the commitment from all parties involved would ensure a close collaboration to execute the renewable energy infrastructure, addressing the nation’s electricity requirements.
The Nigerian government has announced that more than 4,000 prisoners have been released to ease overcrowding in jails.
Interior Minister Olubunmi Tunji-Ojo says those freed were inmates who had been in custody for not paying fines.
He says it was part of an initiative by President Bola Tinubu which included introducing more non-custodial sentences.
The United Nations has said that Nigeria's prisons are currently operating at more than twice their total capacity.
The Nigerian government has announced that more than 4,000 prisoners have been released to ease overcrowding in jails.
Interior Minister Olubunmi Tunji-Ojo says those freed were inmates who had been in custody for not paying fines.
He says it was part of an initiative by President Bola Tinubu which included introducing more non-custodial sentences.
The United Nations has said that Nigeria's prisons are currently operating at more than twice their total capacity.
The Nigerian government has announced that more than 4,000 prisoners have been released to ease overcrowding in jails.
Interior Minister Olubunmi Tunji-Ojo says those freed were inmates who had been in custody for not paying fines.
He says it was part of an initiative by President Bola Tinubu which included introducing more non-custodial sentences.
The United Nations has said that Nigeria's prisons are currently operating at more than twice their total capacity.
The Nigerian government has announced that more than 4,000 prisoners have been released to ease overcrowding in jails.
Interior Minister Olubunmi Tunji-Ojo says those freed were inmates who had been in custody for not paying fines.
He says it was part of an initiative by President Bola Tinubu which included introducing more non-custodial sentences.
The United Nations has said that Nigeria's prisons are currently operating at more than twice their total capacity.
The Nigerian government has announced that more than 4,000 prisoners have been released to ease overcrowding in jails.
Interior Minister Olubunmi Tunji-Ojo says those freed were inmates who had been in custody for not paying fines.
He says it was part of an initiative by President Bola Tinubu which included introducing more non-custodial sentences.
The United Nations has said that Nigeria's prisons are currently operating at more than twice their total capacity.
The Nigerian government has announced that more than 4,000 prisoners have been released to ease overcrowding in jails.
Interior Minister Olubunmi Tunji-Ojo says those freed were inmates who had been in custody for not paying fines.
He says it was part of an initiative by President Bola Tinubu which included introducing more non-custodial sentences.
The United Nations has said that Nigeria's prisons are currently operating at more than twice their total capacity.
The Central Bank of Nigeria says that its monetary policy reforms are beginning to have positive effects on the country’s economy.
The Director of the Corporate Communications Department, CBN Isa AbdulMumin, says the apex bank vowed to return to evidence-based monetary policy status to restore stakeholders’ confidence in Nigeria’s financial system.
The apex bank emphasised that the current inflation rate underscored the gradual influence of the CBN’s money market reforms on the economy.
The Central Bank of Nigeria says that its monetary policy reforms are beginning to have positive effects on the country’s economy.
The Director of the Corporate Communications Department, CBN Isa AbdulMumin, says the apex bank vowed to return to evidence-based monetary policy status to restore stakeholders’ confidence in Nigeria’s financial system.
The apex bank emphasised that the current inflation rate underscored the gradual influence of the CBN’s money market reforms on the economy.
The Central Bank of Nigeria says that its monetary policy reforms are beginning to have positive effects on the country’s economy.
The Director of the Corporate Communications Department, CBN Isa AbdulMumin, says the apex bank vowed to return to evidence-based monetary policy status to restore stakeholders’ confidence in Nigeria’s financial system.
The apex bank emphasised that the current inflation rate underscored the gradual influence of the CBN’s money market reforms on the economy.
The Central Bank of Nigeria says that its monetary policy reforms are beginning to have positive effects on the country’s economy.
The Director of the Corporate Communications Department, CBN Isa AbdulMumin, says the apex bank vowed to return to evidence-based monetary policy status to restore stakeholders’ confidence in Nigeria’s financial system.
The apex bank emphasised that the current inflation rate underscored the gradual influence of the CBN’s money market reforms on the economy.
The Central Bank of Nigeria says that its monetary policy reforms are beginning to have positive effects on the country’s economy.
The Director of the Corporate Communications Department, CBN Isa AbdulMumin, says the apex bank vowed to return to evidence-based monetary policy status to restore stakeholders’ confidence in Nigeria’s financial system.
The apex bank emphasised that the current inflation rate underscored the gradual influence of the CBN’s money market reforms on the economy.
The Central Bank of Nigeria says that its monetary policy reforms are beginning to have positive effects on the country’s economy.
The Director of the Corporate Communications Department, CBN Isa AbdulMumin, says the apex bank vowed to return to evidence-based monetary policy status to restore stakeholders’ confidence in Nigeria’s financial system.
The apex bank emphasised that the current inflation rate underscored the gradual influence of the CBN’s money market reforms on the economy.
The Federal Government has declared a state of emergency in Nigeria’s health sector.
The Coordinating Minister for Health and Social Welfare Dr Muhammed Ali Pate says the nation’s health facilities are in bad shape, adding that there is a need for an urgent intervention.
The governor of Ekiti state Mr Biodun Oyebanji says the state received with great excitement the offer to host the 64th National Council on Health and the prospect of having all the distinguished delegates from across the nation including international stakeholders in health policy development in the state for this agenda setting council meeting.
He says the shortage of personnel, medical equipment, drugs, and qualified personnel among others, has led to a hike in the death toll in health facilities in the country.
The Federal Government has declared a state of emergency in Nigeria’s health sector.
The Coordinating Minister for Health and Social Welfare Dr Muhammed Ali Pate says the nation’s health facilities are in bad shape, adding that there is a need for an urgent intervention.
The governor of Ekiti state Mr Biodun Oyebanji says the state received with great excitement the offer to host the 64th National Council on Health and the prospect of having all the distinguished delegates from across the nation including international stakeholders in health policy development in the state for this agenda setting council meeting.
He says the shortage of personnel, medical equipment, drugs, and qualified personnel among others, has led to a hike in the death toll in health facilities in the country.
The Federal Government has declared a state of emergency in Nigeria’s health sector.
The Coordinating Minister for Health and Social Welfare Dr Muhammed Ali Pate says the nation’s health facilities are in bad shape, adding that there is a need for an urgent intervention.
The governor of Ekiti state Mr Biodun Oyebanji says the state received with great excitement the offer to host the 64th National Council on Health and the prospect of having all the distinguished delegates from across the nation including international stakeholders in health policy development in the state for this agenda setting council meeting.
He says the shortage of personnel, medical equipment, drugs, and qualified personnel among others, has led to a hike in the death toll in health facilities in the country.
The Federal Government has declared a state of emergency in Nigeria’s health sector.
The Coordinating Minister for Health and Social Welfare Dr Muhammed Ali Pate says the nation’s health facilities are in bad shape, adding that there is a need for an urgent intervention.
The governor of Ekiti state Mr Biodun Oyebanji says the state received with great excitement the offer to host the 64th National Council on Health and the prospect of having all the distinguished delegates from across the nation including international stakeholders in health policy development in the state for this agenda setting council meeting.
He says the shortage of personnel, medical equipment, drugs, and qualified personnel among others, has led to a hike in the death toll in health facilities in the country.
The Federal Government has declared a state of emergency in Nigeria’s health sector.
The Coordinating Minister for Health and Social Welfare Dr Muhammed Ali Pate says the nation’s health facilities are in bad shape, adding that there is a need for an urgent intervention.
The governor of Ekiti state Mr Biodun Oyebanji says the state received with great excitement the offer to host the 64th National Council on Health and the prospect of having all the distinguished delegates from across the nation including international stakeholders in health policy development in the state for this agenda setting council meeting.
He says the shortage of personnel, medical equipment, drugs, and qualified personnel among others, has led to a hike in the death toll in health facilities in the country.
The Federal Government has declared a state of emergency in Nigeria’s health sector.
The Coordinating Minister for Health and Social Welfare Dr Muhammed Ali Pate says the nation’s health facilities are in bad shape, adding that there is a need for an urgent intervention.
The governor of Ekiti state Mr Biodun Oyebanji says the state received with great excitement the offer to host the 64th National Council on Health and the prospect of having all the distinguished delegates from across the nation including international stakeholders in health policy development in the state for this agenda setting council meeting.
He says the shortage of personnel, medical equipment, drugs, and qualified personnel among others, has led to a hike in the death toll in health facilities in the country.
The United States has carried out two more air strikes in Syria against facilities used by Iran’s Islamic Revolutionary Guard Corps and its aligned groups.
US Defense Secretary Lloyd Austin says the precision strikes targeted a training facility near the city of Albu Kamal and a safe house near the city of Mayadeen, in response to continued attacks against US forces in Syria and Iraq.
The Reuters news agency says the US strikes targeted a camp run by pro-Iranian armed groups in an area west of Albu Kamal, in Deir al Zor province. The other strike was near a bridge close to the city of Mayadeen, which is near the Iraqi border and is a stronghold of pro-Iranian armed groups.
The United States has carried out two more air strikes in Syria against facilities used by Iran’s Islamic Revolutionary Guard Corps and its aligned groups.
US Defense Secretary Lloyd Austin says the precision strikes targeted a training facility near the city of Albu Kamal and a safe house near the city of Mayadeen, in response to continued attacks against US forces in Syria and Iraq.
The Reuters news agency says the US strikes targeted a camp run by pro-Iranian armed groups in an area west of Albu Kamal, in Deir al Zor province. The other strike was near a bridge close to the city of Mayadeen, which is near the Iraqi border and is a stronghold of pro-Iranian armed groups.
The United States has carried out two more air strikes in Syria against facilities used by Iran’s Islamic Revolutionary Guard Corps and its aligned groups.
US Defense Secretary Lloyd Austin says the precision strikes targeted a training facility near the city of Albu Kamal and a safe house near the city of Mayadeen, in response to continued attacks against US forces in Syria and Iraq.
The Reuters news agency says the US strikes targeted a camp run by pro-Iranian armed groups in an area west of Albu Kamal, in Deir al Zor province. The other strike was near a bridge close to the city of Mayadeen, which is near the Iraqi border and is a stronghold of pro-Iranian armed groups.
The United States has carried out two more air strikes in Syria against facilities used by Iran’s Islamic Revolutionary Guard Corps and its aligned groups.
US Defense Secretary Lloyd Austin says the precision strikes targeted a training facility near the city of Albu Kamal and a safe house near the city of Mayadeen, in response to continued attacks against US forces in Syria and Iraq.
The Reuters news agency says the US strikes targeted a camp run by pro-Iranian armed groups in an area west of Albu Kamal, in Deir al Zor province. The other strike was near a bridge close to the city of Mayadeen, which is near the Iraqi border and is a stronghold of pro-Iranian armed groups.
The United States has carried out two more air strikes in Syria against facilities used by Iran’s Islamic Revolutionary Guard Corps and its aligned groups.
US Defense Secretary Lloyd Austin says the precision strikes targeted a training facility near the city of Albu Kamal and a safe house near the city of Mayadeen, in response to continued attacks against US forces in Syria and Iraq.
The Reuters news agency says the US strikes targeted a camp run by pro-Iranian armed groups in an area west of Albu Kamal, in Deir al Zor province. The other strike was near a bridge close to the city of Mayadeen, which is near the Iraqi border and is a stronghold of pro-Iranian armed groups.
The United States has carried out two more air strikes in Syria against facilities used by Iran’s Islamic Revolutionary Guard Corps and its aligned groups.
US Defense Secretary Lloyd Austin says the precision strikes targeted a training facility near the city of Albu Kamal and a safe house near the city of Mayadeen, in response to continued attacks against US forces in Syria and Iraq.
The Reuters news agency says the US strikes targeted a camp run by pro-Iranian armed groups in an area west of Albu Kamal, in Deir al Zor province. The other strike was near a bridge close to the city of Mayadeen, which is near the Iraqi border and is a stronghold of pro-Iranian armed groups.
Ghana’s cocoa farmers are complaining that they’re broke as the cocoa board – to which they are obliged by law to sell their produce – is unable to pay them.
Anane Boateng, the president of the Ghana National Cocoa Farmers Association, complained that while his members do all the work and shoulder the costs, Cocobod seems unable to make a profit.
MP Eric Opoku, parliamentary committee that oversees the board says Cocobod is still trying to secure a loan to pay for the 2023/24 crop but parliament will still need to approve that and there has been a problem because Cocobod has failed to account for the money it borrowed in 2020.
Cocobod says that it wanted to assure stakeholders that the necessary arrangements have been made to secure enough funding for cocoa purchases for the year under review.
Ghana’s cocoa farmers are complaining that they’re broke as the cocoa board – to which they are obliged by law to sell their produce – is unable to pay them.
Anane Boateng, the president of the Ghana National Cocoa Farmers Association, complained that while his members do all the work and shoulder the costs, Cocobod seems unable to make a profit.
MP Eric Opoku, parliamentary committee that oversees the board says Cocobod is still trying to secure a loan to pay for the 2023/24 crop but parliament will still need to approve that and there has been a problem because Cocobod has failed to account for the money it borrowed in 2020.
Cocobod says that it wanted to assure stakeholders that the necessary arrangements have been made to secure enough funding for cocoa purchases for the year under review.
Ghana’s cocoa farmers are complaining that they’re broke as the cocoa board – to which they are obliged by law to sell their produce – is unable to pay them.
Anane Boateng, the president of the Ghana National Cocoa Farmers Association, complained that while his members do all the work and shoulder the costs, Cocobod seems unable to make a profit.
MP Eric Opoku, parliamentary committee that oversees the board says Cocobod is still trying to secure a loan to pay for the 2023/24 crop but parliament will still need to approve that and there has been a problem because Cocobod has failed to account for the money it borrowed in 2020.
Cocobod says that it wanted to assure stakeholders that the necessary arrangements have been made to secure enough funding for cocoa purchases for the year under review.
Ghana’s cocoa farmers are complaining that they’re broke as the cocoa board – to which they are obliged by law to sell their produce – is unable to pay them.
Anane Boateng, the president of the Ghana National Cocoa Farmers Association, complained that while his members do all the work and shoulder the costs, Cocobod seems unable to make a profit.
MP Eric Opoku, parliamentary committee that oversees the board says Cocobod is still trying to secure a loan to pay for the 2023/24 crop but parliament will still need to approve that and there has been a problem because Cocobod has failed to account for the money it borrowed in 2020.
Cocobod says that it wanted to assure stakeholders that the necessary arrangements have been made to secure enough funding for cocoa purchases for the year under review.
Ghana’s cocoa farmers are complaining that they’re broke as the cocoa board – to which they are obliged by law to sell their produce – is unable to pay them.
Anane Boateng, the president of the Ghana National Cocoa Farmers Association, complained that while his members do all the work and shoulder the costs, Cocobod seems unable to make a profit.
MP Eric Opoku, parliamentary committee that oversees the board says Cocobod is still trying to secure a loan to pay for the 2023/24 crop but parliament will still need to approve that and there has been a problem because Cocobod has failed to account for the money it borrowed in 2020.
Cocobod says that it wanted to assure stakeholders that the necessary arrangements have been made to secure enough funding for cocoa purchases for the year under review.
Ghana’s cocoa farmers are complaining that they’re broke as the cocoa board – to which they are obliged by law to sell their produce – is unable to pay them.
Anane Boateng, the president of the Ghana National Cocoa Farmers Association, complained that while his members do all the work and shoulder the costs, Cocobod seems unable to make a profit.
MP Eric Opoku, parliamentary committee that oversees the board says Cocobod is still trying to secure a loan to pay for the 2023/24 crop but parliament will still need to approve that and there has been a problem because Cocobod has failed to account for the money it borrowed in 2020.
Cocobod says that it wanted to assure stakeholders that the necessary arrangements have been made to secure enough funding for cocoa purchases for the year under review.
The Gabonese government says the African Development Bank has lifted financial sanctions imposed on the country following the removal of President Ali Bongo in a coup in August.
The economy ministry says the decision was taken at the beginning of the week after successful negotiations between the new Gabonese authorities and senior AfDB officials.
The AfDB's decision to lift the sanctions also followed Gabon’s move to restore confidence by clearing its arrears to the continental financial institution at the end of October.
The AfDB became the first international institution to lift sanctions on Gabon since the coup just over two months ago.
The Gabonese government says the African Development Bank has lifted financial sanctions imposed on the country following the removal of President Ali Bongo in a coup in August.
The economy ministry says the decision was taken at the beginning of the week after successful negotiations between the new Gabonese authorities and senior AfDB officials.
The AfDB's decision to lift the sanctions also followed Gabon’s move to restore confidence by clearing its arrears to the continental financial institution at the end of October.
The AfDB became the first international institution to lift sanctions on Gabon since the coup just over two months ago.
The Gabonese government says the African Development Bank has lifted financial sanctions imposed on the country following the removal of President Ali Bongo in a coup in August.
The economy ministry says the decision was taken at the beginning of the week after successful negotiations between the new Gabonese authorities and senior AfDB officials.
The AfDB's decision to lift the sanctions also followed Gabon’s move to restore confidence by clearing its arrears to the continental financial institution at the end of October.
The AfDB became the first international institution to lift sanctions on Gabon since the coup just over two months ago.
The Gabonese government says the African Development Bank has lifted financial sanctions imposed on the country following the removal of President Ali Bongo in a coup in August.
The economy ministry says the decision was taken at the beginning of the week after successful negotiations between the new Gabonese authorities and senior AfDB officials.
The AfDB's decision to lift the sanctions also followed Gabon’s move to restore confidence by clearing its arrears to the continental financial institution at the end of October.
The AfDB became the first international institution to lift sanctions on Gabon since the coup just over two months ago.
The Gabonese government says the African Development Bank has lifted financial sanctions imposed on the country following the removal of President Ali Bongo in a coup in August.
The economy ministry says the decision was taken at the beginning of the week after successful negotiations between the new Gabonese authorities and senior AfDB officials.
The AfDB's decision to lift the sanctions also followed Gabon’s move to restore confidence by clearing its arrears to the continental financial institution at the end of October.
The AfDB became the first international institution to lift sanctions on Gabon since the coup just over two months ago.
The Gabonese government says the African Development Bank has lifted financial sanctions imposed on the country following the removal of President Ali Bongo in a coup in August.
The economy ministry says the decision was taken at the beginning of the week after successful negotiations between the new Gabonese authorities and senior AfDB officials.
The AfDB's decision to lift the sanctions also followed Gabon’s move to restore confidence by clearing its arrears to the continental financial institution at the end of October.
The AfDB became the first international institution to lift sanctions on Gabon since the coup just over two months ago.
Aliko Dangote, says his refinery has secured a licence to refine more than 300,000 barrels of Nigerian crude per day and will begin to process gasoline soon.
Dangote says they won’t want to start the refinery with foreign goods but with Nigerian crude.
The refinery was supposed to start production in August but missed that target in addition to several others over the years however Dangote insists that his refinery will start producing very soon.
Aliko Dangote, says his refinery has secured a licence to refine more than 300,000 barrels of Nigerian crude per day and will begin to process gasoline soon.
Dangote says they won’t want to start the refinery with foreign goods but with Nigerian crude.
The refinery was supposed to start production in August but missed that target in addition to several others over the years however Dangote insists that his refinery will start producing very soon.
Aliko Dangote, says his refinery has secured a licence to refine more than 300,000 barrels of Nigerian crude per day and will begin to process gasoline soon.
Dangote says they won’t want to start the refinery with foreign goods but with Nigerian crude.
The refinery was supposed to start production in August but missed that target in addition to several others over the years however Dangote insists that his refinery will start producing very soon.
Aliko Dangote, says his refinery has secured a licence to refine more than 300,000 barrels of Nigerian crude per day and will begin to process gasoline soon.
Dangote says they won’t want to start the refinery with foreign goods but with Nigerian crude.
The refinery was supposed to start production in August but missed that target in addition to several others over the years however Dangote insists that his refinery will start producing very soon.
Aliko Dangote, says his refinery has secured a licence to refine more than 300,000 barrels of Nigerian crude per day and will begin to process gasoline soon.
Dangote says they won’t want to start the refinery with foreign goods but with Nigerian crude.
The refinery was supposed to start production in August but missed that target in addition to several others over the years however Dangote insists that his refinery will start producing very soon.
Aliko Dangote, says his refinery has secured a licence to refine more than 300,000 barrels of Nigerian crude per day and will begin to process gasoline soon.
Dangote says they won’t want to start the refinery with foreign goods but with Nigerian crude.
The refinery was supposed to start production in August but missed that target in addition to several others over the years however Dangote insists that his refinery will start producing very soon.
KPMG forecasts that Nigeria’s headline inflation will rise to 30 percent by December 2023, attributing the anticipated increase to recent reforms, such as fuel subsidy removal, and the unification of the foreign exchange market.
The report explained that the current MPR hike being adopted by the apex bank in the last 18 months has proven ineffective in stalling the increasing inflationary trend.
It however advised that addressing issues such as energy and transportation costs, supply chain problems, and boosting local production will be more effective than increasing interest rates.
KPMG forecasts that Nigeria’s headline inflation will rise to 30 percent by December 2023, attributing the anticipated increase to recent reforms, such as fuel subsidy removal, and the unification of the foreign exchange market.
The report explained that the current MPR hike being adopted by the apex bank in the last 18 months has proven ineffective in stalling the increasing inflationary trend.
It however advised that addressing issues such as energy and transportation costs, supply chain problems, and boosting local production will be more effective than increasing interest rates.
KPMG forecasts that Nigeria’s headline inflation will rise to 30 percent by December 2023, attributing the anticipated increase to recent reforms, such as fuel subsidy removal, and the unification of the foreign exchange market.
The report explained that the current MPR hike being adopted by the apex bank in the last 18 months has proven ineffective in stalling the increasing inflationary trend.
It however advised that addressing issues such as energy and transportation costs, supply chain problems, and boosting local production will be more effective than increasing interest rates.
KPMG forecasts that Nigeria’s headline inflation will rise to 30 percent by December 2023, attributing the anticipated increase to recent reforms, such as fuel subsidy removal, and the unification of the foreign exchange market.
The report explained that the current MPR hike being adopted by the apex bank in the last 18 months has proven ineffective in stalling the increasing inflationary trend.
It however advised that addressing issues such as energy and transportation costs, supply chain problems, and boosting local production will be more effective than increasing interest rates.
KPMG forecasts that Nigeria’s headline inflation will rise to 30 percent by December 2023, attributing the anticipated increase to recent reforms, such as fuel subsidy removal, and the unification of the foreign exchange market.
The report explained that the current MPR hike being adopted by the apex bank in the last 18 months has proven ineffective in stalling the increasing inflationary trend.
It however advised that addressing issues such as energy and transportation costs, supply chain problems, and boosting local production will be more effective than increasing interest rates.
KPMG forecasts that Nigeria’s headline inflation will rise to 30 percent by December 2023, attributing the anticipated increase to recent reforms, such as fuel subsidy removal, and the unification of the foreign exchange market.
The report explained that the current MPR hike being adopted by the apex bank in the last 18 months has proven ineffective in stalling the increasing inflationary trend.
It however advised that addressing issues such as energy and transportation costs, supply chain problems, and boosting local production will be more effective than increasing interest rates.
Governor Babajide Sanwo-Olu, at the ongoing 2023 Africa Investment Forum, made a strong pitch to investors for a raft of big-ticket projects for which he needs $1 billion to finance.
Sanwo-Olu says Lagos does not just want to be a big elephant in Africa but a big one that works, one that is liveable and predictable for investors.
He says that the state was working on a Film City which will be the biggest in Africa and would cost $100 million, for which investors are required to help the state realise.
He added that the state was working to make Lagos a ‘small Africa’ where everyone comes to and that investment partners were needed to make this possible.
Governor Babajide Sanwo-Olu, at the ongoing 2023 Africa Investment Forum, made a strong pitch to investors for a raft of big-ticket projects for which he needs $1 billion to finance.
Sanwo-Olu says Lagos does not just want to be a big elephant in Africa but a big one that works, one that is liveable and predictable for investors.
He says that the state was working on a Film City which will be the biggest in Africa and would cost $100 million, for which investors are required to help the state realise.
He added that the state was working to make Lagos a ‘small Africa’ where everyone comes to and that investment partners were needed to make this possible.
Governor Babajide Sanwo-Olu, at the ongoing 2023 Africa Investment Forum, made a strong pitch to investors for a raft of big-ticket projects for which he needs $1 billion to finance.
Sanwo-Olu says Lagos does not just want to be a big elephant in Africa but a big one that works, one that is liveable and predictable for investors.
He says that the state was working on a Film City which will be the biggest in Africa and would cost $100 million, for which investors are required to help the state realise.
He added that the state was working to make Lagos a ‘small Africa’ where everyone comes to and that investment partners were needed to make this possible.
Governor Babajide Sanwo-Olu, at the ongoing 2023 Africa Investment Forum, made a strong pitch to investors for a raft of big-ticket projects for which he needs $1 billion to finance.
Sanwo-Olu says Lagos does not just want to be a big elephant in Africa but a big one that works, one that is liveable and predictable for investors.
He says that the state was working on a Film City which will be the biggest in Africa and would cost $100 million, for which investors are required to help the state realise.
He added that the state was working to make Lagos a ‘small Africa’ where everyone comes to and that investment partners were needed to make this possible.
Governor Babajide Sanwo-Olu, at the ongoing 2023 Africa Investment Forum, made a strong pitch to investors for a raft of big-ticket projects for which he needs $1 billion to finance.
Sanwo-Olu says Lagos does not just want to be a big elephant in Africa but a big one that works, one that is liveable and predictable for investors.
He says that the state was working on a Film City which will be the biggest in Africa and would cost $100 million, for which investors are required to help the state realise.
He added that the state was working to make Lagos a ‘small Africa’ where everyone comes to and that investment partners were needed to make this possible.
Governor Babajide Sanwo-Olu, at the ongoing 2023 Africa Investment Forum, made a strong pitch to investors for a raft of big-ticket projects for which he needs $1 billion to finance.
Sanwo-Olu says Lagos does not just want to be a big elephant in Africa but a big one that works, one that is liveable and predictable for investors.
He says that the state was working on a Film City which will be the biggest in Africa and would cost $100 million, for which investors are required to help the state realise.
He added that the state was working to make Lagos a ‘small Africa’ where everyone comes to and that investment partners were needed to make this possible.
The White House says Israel has agreed to daily four-hour military pauses in northern Gaza for humanitarian purposes even as President Joe Biden said there was no chance of a full ceasefire.
White House National Security Council spokesman John Kirby says the pauses were significant steps forward as heavy fighting took hold of Gaza City in the north of the Gaza Strip.
Israel had also opened up “humanitarian corridors” for the past few days that had already allowed many thousands of people to leave the worst-hit area of north Gaza to the south.
The White House says Israel has agreed to daily four-hour military pauses in northern Gaza for humanitarian purposes even as President Joe Biden said there was no chance of a full ceasefire.
White House National Security Council spokesman John Kirby says the pauses were significant steps forward as heavy fighting took hold of Gaza City in the north of the Gaza Strip.
Israel had also opened up “humanitarian corridors” for the past few days that had already allowed many thousands of people to leave the worst-hit area of north Gaza to the south.
The White House says Israel has agreed to daily four-hour military pauses in northern Gaza for humanitarian purposes even as President Joe Biden said there was no chance of a full ceasefire.
White House National Security Council spokesman John Kirby says the pauses were significant steps forward as heavy fighting took hold of Gaza City in the north of the Gaza Strip.
Israel had also opened up “humanitarian corridors” for the past few days that had already allowed many thousands of people to leave the worst-hit area of north Gaza to the south.
The White House says Israel has agreed to daily four-hour military pauses in northern Gaza for humanitarian purposes even as President Joe Biden said there was no chance of a full ceasefire.
White House National Security Council spokesman John Kirby says the pauses were significant steps forward as heavy fighting took hold of Gaza City in the north of the Gaza Strip.
Israel had also opened up “humanitarian corridors” for the past few days that had already allowed many thousands of people to leave the worst-hit area of north Gaza to the south.
The White House says Israel has agreed to daily four-hour military pauses in northern Gaza for humanitarian purposes even as President Joe Biden said there was no chance of a full ceasefire.
White House National Security Council spokesman John Kirby says the pauses were significant steps forward as heavy fighting took hold of Gaza City in the north of the Gaza Strip.
Israel had also opened up “humanitarian corridors” for the past few days that had already allowed many thousands of people to leave the worst-hit area of north Gaza to the south.
The White House says Israel has agreed to daily four-hour military pauses in northern Gaza for humanitarian purposes even as President Joe Biden said there was no chance of a full ceasefire.
White House National Security Council spokesman John Kirby says the pauses were significant steps forward as heavy fighting took hold of Gaza City in the north of the Gaza Strip.
Israel had also opened up “humanitarian corridors” for the past few days that had already allowed many thousands of people to leave the worst-hit area of north Gaza to the south.
Popular live video chat website Omegle is shutting down after 14 years following user claims of abuse.
The service, which randomly placed users in online chats with strangers, grew in popularity with children and young people during the COVID-19 pandemic.
But the site has been mentioned in more than 50 cases against paedophiles in the last couple of years.
Founder Leif Brooks says that operating the website was no longer sustainable, financially nor psychologically.
Popular live video chat website Omegle is shutting down after 14 years following user claims of abuse.
The service, which randomly placed users in online chats with strangers, grew in popularity with children and young people during the COVID-19 pandemic.
But the site has been mentioned in more than 50 cases against paedophiles in the last couple of years.
Founder Leif Brooks says that operating the website was no longer sustainable, financially nor psychologically.
Popular live video chat website Omegle is shutting down after 14 years following user claims of abuse.
The service, which randomly placed users in online chats with strangers, grew in popularity with children and young people during the COVID-19 pandemic.
But the site has been mentioned in more than 50 cases against paedophiles in the last couple of years.
Founder Leif Brooks says that operating the website was no longer sustainable, financially nor psychologically.
Popular live video chat website Omegle is shutting down after 14 years following user claims of abuse.
The service, which randomly placed users in online chats with strangers, grew in popularity with children and young people during the COVID-19 pandemic.
But the site has been mentioned in more than 50 cases against paedophiles in the last couple of years.
Founder Leif Brooks says that operating the website was no longer sustainable, financially nor psychologically.
Popular live video chat website Omegle is shutting down after 14 years following user claims of abuse.
The service, which randomly placed users in online chats with strangers, grew in popularity with children and young people during the COVID-19 pandemic.
But the site has been mentioned in more than 50 cases against paedophiles in the last couple of years.
Founder Leif Brooks says that operating the website was no longer sustainable, financially nor psychologically.
Popular live video chat website Omegle is shutting down after 14 years following user claims of abuse.
The service, which randomly placed users in online chats with strangers, grew in popularity with children and young people during the COVID-19 pandemic.
But the site has been mentioned in more than 50 cases against paedophiles in the last couple of years.
Founder Leif Brooks says that operating the website was no longer sustainable, financially nor psychologically.
TikTok is again under the spotlight in the United States amid claims that the popular video app is pushing young people to support Palestinians and Hamas.
Powerful politicians, including senators Josh Hawley and Marco Rubio and House Representative Mike Gallagher, have reiterated calls for a ban on TikTok, citing the app’s alleged bias towards anti-Israel and anti-Jewish content.
Hawley cited a recent Harvard CAPS-Harris Poll in which 51 per cent of Americans aged 18-24 said that Hamas’s October 7 attacks on Israel could be justified by Palestinians’ grievances, in contrast to older Americans who overwhelmingly back Israel.
TikTok is again under the spotlight in the United States amid claims that the popular video app is pushing young people to support Palestinians and Hamas.
Powerful politicians, including senators Josh Hawley and Marco Rubio and House Representative Mike Gallagher, have reiterated calls for a ban on TikTok, citing the app’s alleged bias towards anti-Israel and anti-Jewish content.
Hawley cited a recent Harvard CAPS-Harris Poll in which 51 per cent of Americans aged 18-24 said that Hamas’s October 7 attacks on Israel could be justified by Palestinians’ grievances, in contrast to older Americans who overwhelmingly back Israel.
TikTok is again under the spotlight in the United States amid claims that the popular video app is pushing young people to support Palestinians and Hamas.
Powerful politicians, including senators Josh Hawley and Marco Rubio and House Representative Mike Gallagher, have reiterated calls for a ban on TikTok, citing the app’s alleged bias towards anti-Israel and anti-Jewish content.
Hawley cited a recent Harvard CAPS-Harris Poll in which 51 per cent of Americans aged 18-24 said that Hamas’s October 7 attacks on Israel could be justified by Palestinians’ grievances, in contrast to older Americans who overwhelmingly back Israel.
TikTok is again under the spotlight in the United States amid claims that the popular video app is pushing young people to support Palestinians and Hamas.
Powerful politicians, including senators Josh Hawley and Marco Rubio and House Representative Mike Gallagher, have reiterated calls for a ban on TikTok, citing the app’s alleged bias towards anti-Israel and anti-Jewish content.
Hawley cited a recent Harvard CAPS-Harris Poll in which 51 per cent of Americans aged 18-24 said that Hamas’s October 7 attacks on Israel could be justified by Palestinians’ grievances, in contrast to older Americans who overwhelmingly back Israel.
TikTok is again under the spotlight in the United States amid claims that the popular video app is pushing young people to support Palestinians and Hamas.
Powerful politicians, including senators Josh Hawley and Marco Rubio and House Representative Mike Gallagher, have reiterated calls for a ban on TikTok, citing the app’s alleged bias towards anti-Israel and anti-Jewish content.
Hawley cited a recent Harvard CAPS-Harris Poll in which 51 per cent of Americans aged 18-24 said that Hamas’s October 7 attacks on Israel could be justified by Palestinians’ grievances, in contrast to older Americans who overwhelmingly back Israel.
TikTok is again under the spotlight in the United States amid claims that the popular video app is pushing young people to support Palestinians and Hamas.
Powerful politicians, including senators Josh Hawley and Marco Rubio and House Representative Mike Gallagher, have reiterated calls for a ban on TikTok, citing the app’s alleged bias towards anti-Israel and anti-Jewish content.
Hawley cited a recent Harvard CAPS-Harris Poll in which 51 per cent of Americans aged 18-24 said that Hamas’s October 7 attacks on Israel could be justified by Palestinians’ grievances, in contrast to older Americans who overwhelmingly back Israel.
The Kenyan High Court has blocked a new charge for national identity cards which had sparked a national outcry.
A petition by surgeon Magare Gikenyi argued that the government introduced the charges in a capricious and arbitrary manner.
The petition says the charge meant ID cards were out of reach of many ordinary citizens.
The revised fees also affect other government-issued documents, such as passports, marriage certificates, work and residence permits and birth and death certificates.
The Kenyan High Court has blocked a new charge for national identity cards which had sparked a national outcry.
A petition by surgeon Magare Gikenyi argued that the government introduced the charges in a capricious and arbitrary manner.
The petition says the charge meant ID cards were out of reach of many ordinary citizens.
The revised fees also affect other government-issued documents, such as passports, marriage certificates, work and residence permits and birth and death certificates.
The Kenyan High Court has blocked a new charge for national identity cards which had sparked a national outcry.
A petition by surgeon Magare Gikenyi argued that the government introduced the charges in a capricious and arbitrary manner.
The petition says the charge meant ID cards were out of reach of many ordinary citizens.
The revised fees also affect other government-issued documents, such as passports, marriage certificates, work and residence permits and birth and death certificates.
The Kenyan High Court has blocked a new charge for national identity cards which had sparked a national outcry.
A petition by surgeon Magare Gikenyi argued that the government introduced the charges in a capricious and arbitrary manner.
The petition says the charge meant ID cards were out of reach of many ordinary citizens.
The revised fees also affect other government-issued documents, such as passports, marriage certificates, work and residence permits and birth and death certificates.
The Kenyan High Court has blocked a new charge for national identity cards which had sparked a national outcry.
A petition by surgeon Magare Gikenyi argued that the government introduced the charges in a capricious and arbitrary manner.
The petition says the charge meant ID cards were out of reach of many ordinary citizens.
The revised fees also affect other government-issued documents, such as passports, marriage certificates, work and residence permits and birth and death certificates.
The Kenyan High Court has blocked a new charge for national identity cards which had sparked a national outcry.
A petition by surgeon Magare Gikenyi argued that the government introduced the charges in a capricious and arbitrary manner.
The petition says the charge meant ID cards were out of reach of many ordinary citizens.
The revised fees also affect other government-issued documents, such as passports, marriage certificates, work and residence permits and birth and death certificates.
Malawi's currency has lost nearly half its value against the US dollar, sparking concerns from some consumers in the southern African country that basic goods will soar in price.
The bank's 44% decrease was brought in to better reflect the kwacha price in different markets.
It is the second time in 18 months that Malawi, one of the poorest countries in the world, has significantly decreased the value of the kwacha in relation to the US currency.
Central Bank chief Wilson Banda says the most recent exchange rate adjustment was needed because there were still supply-demand imbalances in the currency market.
Malawi's currency has lost nearly half its value against the US dollar, sparking concerns from some consumers in the southern African country that basic goods will soar in price.
The bank's 44% decrease was brought in to better reflect the kwacha price in different markets.
It is the second time in 18 months that Malawi, one of the poorest countries in the world, has significantly decreased the value of the kwacha in relation to the US currency.
Central Bank chief Wilson Banda says the most recent exchange rate adjustment was needed because there were still supply-demand imbalances in the currency market.
Malawi's currency has lost nearly half its value against the US dollar, sparking concerns from some consumers in the southern African country that basic goods will soar in price.
The bank's 44% decrease was brought in to better reflect the kwacha price in different markets.
It is the second time in 18 months that Malawi, one of the poorest countries in the world, has significantly decreased the value of the kwacha in relation to the US currency.
Central Bank chief Wilson Banda says the most recent exchange rate adjustment was needed because there were still supply-demand imbalances in the currency market.
Malawi's currency has lost nearly half its value against the US dollar, sparking concerns from some consumers in the southern African country that basic goods will soar in price.
The bank's 44% decrease was brought in to better reflect the kwacha price in different markets.
It is the second time in 18 months that Malawi, one of the poorest countries in the world, has significantly decreased the value of the kwacha in relation to the US currency.
Central Bank chief Wilson Banda says the most recent exchange rate adjustment was needed because there were still supply-demand imbalances in the currency market.
Malawi's currency has lost nearly half its value against the US dollar, sparking concerns from some consumers in the southern African country that basic goods will soar in price.
The bank's 44% decrease was brought in to better reflect the kwacha price in different markets.
It is the second time in 18 months that Malawi, one of the poorest countries in the world, has significantly decreased the value of the kwacha in relation to the US currency.
Central Bank chief Wilson Banda says the most recent exchange rate adjustment was needed because there were still supply-demand imbalances in the currency market.
Malawi's currency has lost nearly half its value against the US dollar, sparking concerns from some consumers in the southern African country that basic goods will soar in price.
The bank's 44% decrease was brought in to better reflect the kwacha price in different markets.
It is the second time in 18 months that Malawi, one of the poorest countries in the world, has significantly decreased the value of the kwacha in relation to the US currency.
Central Bank chief Wilson Banda says the most recent exchange rate adjustment was needed because there were still supply-demand imbalances in the currency market.
Prosecutors in Burundi are seeking life imprisonment for former Prime Minister Alain-Guillaume Bunyoni, who is on trial for seven charges, including using witchcraft to threaten the president’s life.
Mr Bunyoni’s trial started in September, a year after he was fired by President Evariste Ndayishimiye over suspicions that Mr Bunyoni was plotting a "coup" against him.
Prosecutor Jean-Bosco Bucumi called for Mr Bunyoni to pay damages equivalent to twice the value of the 153 houses and plots of land and the 43 vehicles belonging to him, in addition to a fine of 7.1m Burundian francs.
Prosecutors in Burundi are seeking life imprisonment for former Prime Minister Alain-Guillaume Bunyoni, who is on trial for seven charges, including using witchcraft to threaten the president’s life.
Mr Bunyoni’s trial started in September, a year after he was fired by President Evariste Ndayishimiye over suspicions that Mr Bunyoni was plotting a "coup" against him.
Prosecutor Jean-Bosco Bucumi called for Mr Bunyoni to pay damages equivalent to twice the value of the 153 houses and plots of land and the 43 vehicles belonging to him, in addition to a fine of 7.1m Burundian francs.
Prosecutors in Burundi are seeking life imprisonment for former Prime Minister Alain-Guillaume Bunyoni, who is on trial for seven charges, including using witchcraft to threaten the president’s life.
Mr Bunyoni’s trial started in September, a year after he was fired by President Evariste Ndayishimiye over suspicions that Mr Bunyoni was plotting a "coup" against him.
Prosecutor Jean-Bosco Bucumi called for Mr Bunyoni to pay damages equivalent to twice the value of the 153 houses and plots of land and the 43 vehicles belonging to him, in addition to a fine of 7.1m Burundian francs.
Prosecutors in Burundi are seeking life imprisonment for former Prime Minister Alain-Guillaume Bunyoni, who is on trial for seven charges, including using witchcraft to threaten the president’s life.
Mr Bunyoni’s trial started in September, a year after he was fired by President Evariste Ndayishimiye over suspicions that Mr Bunyoni was plotting a "coup" against him.
Prosecutor Jean-Bosco Bucumi called for Mr Bunyoni to pay damages equivalent to twice the value of the 153 houses and plots of land and the 43 vehicles belonging to him, in addition to a fine of 7.1m Burundian francs.
Prosecutors in Burundi are seeking life imprisonment for former Prime Minister Alain-Guillaume Bunyoni, who is on trial for seven charges, including using witchcraft to threaten the president’s life.
Mr Bunyoni’s trial started in September, a year after he was fired by President Evariste Ndayishimiye over suspicions that Mr Bunyoni was plotting a "coup" against him.
Prosecutor Jean-Bosco Bucumi called for Mr Bunyoni to pay damages equivalent to twice the value of the 153 houses and plots of land and the 43 vehicles belonging to him, in addition to a fine of 7.1m Burundian francs.
Prosecutors in Burundi are seeking life imprisonment for former Prime Minister Alain-Guillaume Bunyoni, who is on trial for seven charges, including using witchcraft to threaten the president’s life.
Mr Bunyoni’s trial started in September, a year after he was fired by President Evariste Ndayishimiye over suspicions that Mr Bunyoni was plotting a "coup" against him.
Prosecutor Jean-Bosco Bucumi called for Mr Bunyoni to pay damages equivalent to twice the value of the 153 houses and plots of land and the 43 vehicles belonging to him, in addition to a fine of 7.1m Burundian francs.
The Federal Ministry of Petroleum Resources announced that Nigeria and Saudi Arabia have signed a Memorandum of Understanding to promote collaboration, information exchange and technology transfer in the oil sector.
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, says the key purpose of the MoU is to promote collaboration, information exchange and technology transfer, thereby creating a conducive environment for a mutually beneficial partnership.
The Minister further stated that the MoU would attract substantial Foreign Direct Investment into Nigeria’s oil and gas sector.
The Federal Ministry of Petroleum Resources announced that Nigeria and Saudi Arabia have signed a Memorandum of Understanding to promote collaboration, information exchange and technology transfer in the oil sector.
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, says the key purpose of the MoU is to promote collaboration, information exchange and technology transfer, thereby creating a conducive environment for a mutually beneficial partnership.
The Minister further stated that the MoU would attract substantial Foreign Direct Investment into Nigeria’s oil and gas sector.
The Federal Ministry of Petroleum Resources announced that Nigeria and Saudi Arabia have signed a Memorandum of Understanding to promote collaboration, information exchange and technology transfer in the oil sector.
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, says the key purpose of the MoU is to promote collaboration, information exchange and technology transfer, thereby creating a conducive environment for a mutually beneficial partnership.
The Minister further stated that the MoU would attract substantial Foreign Direct Investment into Nigeria’s oil and gas sector.
The Federal Ministry of Petroleum Resources announced that Nigeria and Saudi Arabia have signed a Memorandum of Understanding to promote collaboration, information exchange and technology transfer in the oil sector.
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, says the key purpose of the MoU is to promote collaboration, information exchange and technology transfer, thereby creating a conducive environment for a mutually beneficial partnership.
The Minister further stated that the MoU would attract substantial Foreign Direct Investment into Nigeria’s oil and gas sector.
The Federal Ministry of Petroleum Resources announced that Nigeria and Saudi Arabia have signed a Memorandum of Understanding to promote collaboration, information exchange and technology transfer in the oil sector.
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, says the key purpose of the MoU is to promote collaboration, information exchange and technology transfer, thereby creating a conducive environment for a mutually beneficial partnership.
The Minister further stated that the MoU would attract substantial Foreign Direct Investment into Nigeria’s oil and gas sector.
The Federal Ministry of Petroleum Resources announced that Nigeria and Saudi Arabia have signed a Memorandum of Understanding to promote collaboration, information exchange and technology transfer in the oil sector.
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, says the key purpose of the MoU is to promote collaboration, information exchange and technology transfer, thereby creating a conducive environment for a mutually beneficial partnership.
The Minister further stated that the MoU would attract substantial Foreign Direct Investment into Nigeria’s oil and gas sector.
The International Monetary Fund has disclosed that China’s declining growth is set to affect Nigeria’s economic fortune.
IMF noted that because China has forged deep economic ties with countries in sub-Saharan Africa over the past 20 years, its recent declining growth may affect growth in Nigeria by 0.5 percentage points on average.
China is the region’s largest single-country trading partner, as it buys one-fifth of the region’s exports — metals, minerals, and fuel —and provides most of the manufactured goods and machinery imported in the region.
It, however, noted that China’s recovery from the pandemic is now set to ripple across Africa.
The International Monetary Fund has disclosed that China’s declining growth is set to affect Nigeria’s economic fortune.
IMF noted that because China has forged deep economic ties with countries in sub-Saharan Africa over the past 20 years, its recent declining growth may affect growth in Nigeria by 0.5 percentage points on average.
China is the region’s largest single-country trading partner, as it buys one-fifth of the region’s exports — metals, minerals, and fuel —and provides most of the manufactured goods and machinery imported in the region.
It, however, noted that China’s recovery from the pandemic is now set to ripple across Africa.
The International Monetary Fund has disclosed that China’s declining growth is set to affect Nigeria’s economic fortune.
IMF noted that because China has forged deep economic ties with countries in sub-Saharan Africa over the past 20 years, its recent declining growth may affect growth in Nigeria by 0.5 percentage points on average.
China is the region’s largest single-country trading partner, as it buys one-fifth of the region’s exports — metals, minerals, and fuel —and provides most of the manufactured goods and machinery imported in the region.
It, however, noted that China’s recovery from the pandemic is now set to ripple across Africa.
The International Monetary Fund has disclosed that China’s declining growth is set to affect Nigeria’s economic fortune.
IMF noted that because China has forged deep economic ties with countries in sub-Saharan Africa over the past 20 years, its recent declining growth may affect growth in Nigeria by 0.5 percentage points on average.
China is the region’s largest single-country trading partner, as it buys one-fifth of the region’s exports — metals, minerals, and fuel —and provides most of the manufactured goods and machinery imported in the region.
It, however, noted that China’s recovery from the pandemic is now set to ripple across Africa.
The International Monetary Fund has disclosed that China’s declining growth is set to affect Nigeria’s economic fortune.
IMF noted that because China has forged deep economic ties with countries in sub-Saharan Africa over the past 20 years, its recent declining growth may affect growth in Nigeria by 0.5 percentage points on average.
China is the region’s largest single-country trading partner, as it buys one-fifth of the region’s exports — metals, minerals, and fuel —and provides most of the manufactured goods and machinery imported in the region.
It, however, noted that China’s recovery from the pandemic is now set to ripple across Africa.
The International Monetary Fund has disclosed that China’s declining growth is set to affect Nigeria’s economic fortune.
IMF noted that because China has forged deep economic ties with countries in sub-Saharan Africa over the past 20 years, its recent declining growth may affect growth in Nigeria by 0.5 percentage points on average.
China is the region’s largest single-country trading partner, as it buys one-fifth of the region’s exports — metals, minerals, and fuel —and provides most of the manufactured goods and machinery imported in the region.
It, however, noted that China’s recovery from the pandemic is now set to ripple across Africa.
A bill to amend the Central Bank of Nigeria Act scaled Second Reading at the House of Representatives.
The proposed amendment according to the sponsor of the bill, Francis Waive, seeks to address several critical aspects of the Act to enhance the effectiveness, transparency, and accountability of the apex bank and its operations.
Waive who represents Ughelli North/South/Udu Federal Constituency, Delta State emphasised the need to amend Section 6 of the CBN Act as it concerns the necessity of separating the Chairman of the Board of the apex bank from the CBN Governor.
He says separating the Chairman of the Board from the Governor would enhance independence and oversight and ensure a more effective system of checks and balances within the CBN’s governance structure.
A bill to amend the Central Bank of Nigeria Act scaled Second Reading at the House of Representatives.
The proposed amendment according to the sponsor of the bill, Francis Waive, seeks to address several critical aspects of the Act to enhance the effectiveness, transparency, and accountability of the apex bank and its operations.
Waive who represents Ughelli North/South/Udu Federal Constituency, Delta State emphasised the need to amend Section 6 of the CBN Act as it concerns the necessity of separating the Chairman of the Board of the apex bank from the CBN Governor.
He says separating the Chairman of the Board from the Governor would enhance independence and oversight and ensure a more effective system of checks and balances within the CBN’s governance structure.
A bill to amend the Central Bank of Nigeria Act scaled Second Reading at the House of Representatives.
The proposed amendment according to the sponsor of the bill, Francis Waive, seeks to address several critical aspects of the Act to enhance the effectiveness, transparency, and accountability of the apex bank and its operations.
Waive who represents Ughelli North/South/Udu Federal Constituency, Delta State emphasised the need to amend Section 6 of the CBN Act as it concerns the necessity of separating the Chairman of the Board of the apex bank from the CBN Governor.
He says separating the Chairman of the Board from the Governor would enhance independence and oversight and ensure a more effective system of checks and balances within the CBN’s governance structure.
A bill to amend the Central Bank of Nigeria Act scaled Second Reading at the House of Representatives.
The proposed amendment according to the sponsor of the bill, Francis Waive, seeks to address several critical aspects of the Act to enhance the effectiveness, transparency, and accountability of the apex bank and its operations.
Waive who represents Ughelli North/South/Udu Federal Constituency, Delta State emphasised the need to amend Section 6 of the CBN Act as it concerns the necessity of separating the Chairman of the Board of the apex bank from the CBN Governor.
He says separating the Chairman of the Board from the Governor would enhance independence and oversight and ensure a more effective system of checks and balances within the CBN’s governance structure.
A bill to amend the Central Bank of Nigeria Act scaled Second Reading at the House of Representatives.
The proposed amendment according to the sponsor of the bill, Francis Waive, seeks to address several critical aspects of the Act to enhance the effectiveness, transparency, and accountability of the apex bank and its operations.
Waive who represents Ughelli North/South/Udu Federal Constituency, Delta State emphasised the need to amend Section 6 of the CBN Act as it concerns the necessity of separating the Chairman of the Board of the apex bank from the CBN Governor.
He says separating the Chairman of the Board from the Governor would enhance independence and oversight and ensure a more effective system of checks and balances within the CBN’s governance structure.
A bill to amend the Central Bank of Nigeria Act scaled Second Reading at the House of Representatives.
The proposed amendment according to the sponsor of the bill, Francis Waive, seeks to address several critical aspects of the Act to enhance the effectiveness, transparency, and accountability of the apex bank and its operations.
Waive who represents Ughelli North/South/Udu Federal Constituency, Delta State emphasised the need to amend Section 6 of the CBN Act as it concerns the necessity of separating the Chairman of the Board of the apex bank from the CBN Governor.
He says separating the Chairman of the Board from the Governor would enhance independence and oversight and ensure a more effective system of checks and balances within the CBN’s governance structure.
China has urged Myanmar to cooperate on keeping their shared border stable after armed groups fighting the military government captured a key trading outpost.
Beijing says that Assistant Foreign Minister Nong Rong visited Myanmar over the weekend to discuss clashes the UN says have displaced more than 23,000 people.
Nong met with Deputy Prime Minister and Foreign Minister Than Shwe and Deputy Foreign Minister Lwin Oo during his visit.
Myanmar’s ethnic minority rebel groups last week seized the border town of Chinshwehaw, a key conduit for the $1.8bn in annual trade between China and Myanmar.
China has urged Myanmar to cooperate on keeping their shared border stable after armed groups fighting the military government captured a key trading outpost.
Beijing says that Assistant Foreign Minister Nong Rong visited Myanmar over the weekend to discuss clashes the UN says have displaced more than 23,000 people.
Nong met with Deputy Prime Minister and Foreign Minister Than Shwe and Deputy Foreign Minister Lwin Oo during his visit.
Myanmar’s ethnic minority rebel groups last week seized the border town of Chinshwehaw, a key conduit for the $1.8bn in annual trade between China and Myanmar.
China has urged Myanmar to cooperate on keeping their shared border stable after armed groups fighting the military government captured a key trading outpost.
Beijing says that Assistant Foreign Minister Nong Rong visited Myanmar over the weekend to discuss clashes the UN says have displaced more than 23,000 people.
Nong met with Deputy Prime Minister and Foreign Minister Than Shwe and Deputy Foreign Minister Lwin Oo during his visit.
Myanmar’s ethnic minority rebel groups last week seized the border town of Chinshwehaw, a key conduit for the $1.8bn in annual trade between China and Myanmar.
China has urged Myanmar to cooperate on keeping their shared border stable after armed groups fighting the military government captured a key trading outpost.
Beijing says that Assistant Foreign Minister Nong Rong visited Myanmar over the weekend to discuss clashes the UN says have displaced more than 23,000 people.
Nong met with Deputy Prime Minister and Foreign Minister Than Shwe and Deputy Foreign Minister Lwin Oo during his visit.
Myanmar’s ethnic minority rebel groups last week seized the border town of Chinshwehaw, a key conduit for the $1.8bn in annual trade between China and Myanmar.
China has urged Myanmar to cooperate on keeping their shared border stable after armed groups fighting the military government captured a key trading outpost.
Beijing says that Assistant Foreign Minister Nong Rong visited Myanmar over the weekend to discuss clashes the UN says have displaced more than 23,000 people.
Nong met with Deputy Prime Minister and Foreign Minister Than Shwe and Deputy Foreign Minister Lwin Oo during his visit.
Myanmar’s ethnic minority rebel groups last week seized the border town of Chinshwehaw, a key conduit for the $1.8bn in annual trade between China and Myanmar.
China has urged Myanmar to cooperate on keeping their shared border stable after armed groups fighting the military government captured a key trading outpost.
Beijing says that Assistant Foreign Minister Nong Rong visited Myanmar over the weekend to discuss clashes the UN says have displaced more than 23,000 people.
Nong met with Deputy Prime Minister and Foreign Minister Than Shwe and Deputy Foreign Minister Lwin Oo during his visit.
Myanmar’s ethnic minority rebel groups last week seized the border town of Chinshwehaw, a key conduit for the $1.8bn in annual trade between China and Myanmar.
Uganda’s President Yoweri Museveni has downplayed concerns over the expulsion of his country from a special US-Africa trade programme.
US President Joe Biden says Uganda and three other African countries would be removed from the African Growth and Opportunity Act (Agoa), citing Uganda’s gross violations of internationally recognised human rights.
He stated that Uganda could still develop without the bank's support.
Mr Museveni, however, hailed the American government for maintaining funding for HIV drugs but added that his government had a contingency plan to acquire the drugs if foreign donors pulled out.
Uganda’s President Yoweri Museveni has downplayed concerns over the expulsion of his country from a special US-Africa trade programme.
US President Joe Biden says Uganda and three other African countries would be removed from the African Growth and Opportunity Act (Agoa), citing Uganda’s gross violations of internationally recognised human rights.
He stated that Uganda could still develop without the bank's support.
Mr Museveni, however, hailed the American government for maintaining funding for HIV drugs but added that his government had a contingency plan to acquire the drugs if foreign donors pulled out.
Uganda’s President Yoweri Museveni has downplayed concerns over the expulsion of his country from a special US-Africa trade programme.
US President Joe Biden says Uganda and three other African countries would be removed from the African Growth and Opportunity Act (Agoa), citing Uganda’s gross violations of internationally recognised human rights.
He stated that Uganda could still develop without the bank's support.
Mr Museveni, however, hailed the American government for maintaining funding for HIV drugs but added that his government had a contingency plan to acquire the drugs if foreign donors pulled out.
Uganda’s President Yoweri Museveni has downplayed concerns over the expulsion of his country from a special US-Africa trade programme.
US President Joe Biden says Uganda and three other African countries would be removed from the African Growth and Opportunity Act (Agoa), citing Uganda’s gross violations of internationally recognised human rights.
He stated that Uganda could still develop without the bank's support.
Mr Museveni, however, hailed the American government for maintaining funding for HIV drugs but added that his government had a contingency plan to acquire the drugs if foreign donors pulled out.
Uganda’s President Yoweri Museveni has downplayed concerns over the expulsion of his country from a special US-Africa trade programme.
US President Joe Biden says Uganda and three other African countries would be removed from the African Growth and Opportunity Act (Agoa), citing Uganda’s gross violations of internationally recognised human rights.
He stated that Uganda could still develop without the bank's support.
Mr Museveni, however, hailed the American government for maintaining funding for HIV drugs but added that his government had a contingency plan to acquire the drugs if foreign donors pulled out.
Uganda’s President Yoweri Museveni has downplayed concerns over the expulsion of his country from a special US-Africa trade programme.
US President Joe Biden says Uganda and three other African countries would be removed from the African Growth and Opportunity Act (Agoa), citing Uganda’s gross violations of internationally recognised human rights.
He stated that Uganda could still develop without the bank's support.
Mr Museveni, however, hailed the American government for maintaining funding for HIV drugs but added that his government had a contingency plan to acquire the drugs if foreign donors pulled out.
South Africa's President Cyril Ramaphosa says US investment could help African countries make the most of their critical minerals and industrialise their economies.
He says Africa is an important source of critical raw materials, but they do not want to be defined as simply the producers of commodities.
He added that African countries would profit greatly from keeping these materials in-house and transforming them into goods that can then be sold globally, rather than exporting the resources to countries with greater manufacturing capabilities.
Mr Ramaphosa says they look forward to the United States working with African countries to foster an investment-led approach that aims to diversify international supply chains of critical minerals by beneficiating these resources here on the African continent.
South Africa's President Cyril Ramaphosa says US investment could help African countries make the most of their critical minerals and industrialise their economies.
He says Africa is an important source of critical raw materials, but they do not want to be defined as simply the producers of commodities.
He added that African countries would profit greatly from keeping these materials in-house and transforming them into goods that can then be sold globally, rather than exporting the resources to countries with greater manufacturing capabilities.
Mr Ramaphosa says they look forward to the United States working with African countries to foster an investment-led approach that aims to diversify international supply chains of critical minerals by beneficiating these resources here on the African continent.
South Africa's President Cyril Ramaphosa says US investment could help African countries make the most of their critical minerals and industrialise their economies.
He says Africa is an important source of critical raw materials, but they do not want to be defined as simply the producers of commodities.
He added that African countries would profit greatly from keeping these materials in-house and transforming them into goods that can then be sold globally, rather than exporting the resources to countries with greater manufacturing capabilities.
Mr Ramaphosa says they look forward to the United States working with African countries to foster an investment-led approach that aims to diversify international supply chains of critical minerals by beneficiating these resources here on the African continent.
South Africa's President Cyril Ramaphosa says US investment could help African countries make the most of their critical minerals and industrialise their economies.
He says Africa is an important source of critical raw materials, but they do not want to be defined as simply the producers of commodities.
He added that African countries would profit greatly from keeping these materials in-house and transforming them into goods that can then be sold globally, rather than exporting the resources to countries with greater manufacturing capabilities.
Mr Ramaphosa says they look forward to the United States working with African countries to foster an investment-led approach that aims to diversify international supply chains of critical minerals by beneficiating these resources here on the African continent.
South Africa's President Cyril Ramaphosa says US investment could help African countries make the most of their critical minerals and industrialise their economies.
He says Africa is an important source of critical raw materials, but they do not want to be defined as simply the producers of commodities.
He added that African countries would profit greatly from keeping these materials in-house and transforming them into goods that can then be sold globally, rather than exporting the resources to countries with greater manufacturing capabilities.
Mr Ramaphosa says they look forward to the United States working with African countries to foster an investment-led approach that aims to diversify international supply chains of critical minerals by beneficiating these resources here on the African continent.
South Africa's President Cyril Ramaphosa says US investment could help African countries make the most of their critical minerals and industrialise their economies.
He says Africa is an important source of critical raw materials, but they do not want to be defined as simply the producers of commodities.
He added that African countries would profit greatly from keeping these materials in-house and transforming them into goods that can then be sold globally, rather than exporting the resources to countries with greater manufacturing capabilities.
Mr Ramaphosa says they look forward to the United States working with African countries to foster an investment-led approach that aims to diversify international supply chains of critical minerals by beneficiating these resources here on the African continent.
The Federal Government says it has finalised payment of N1.02bn to 7, 091 pensioners of the Power and Transport Sectors of the Parastatals Pension Department.
The Head, of the Corporate Communications Unit, Pension Transitional Arrangement Directorate, Olugbenga Ajayi, says the payment represents 39 per cent of the accrued pension arrears owed pensioners in the said sectors for the period August 2015 to September 2023.
He says this is a result of the computation of the monthly pension of pensioners of PaPD based on their career details, salary structure and applicable pension increments.
The Federal Government says it has finalised payment of N1.02bn to 7, 091 pensioners of the Power and Transport Sectors of the Parastatals Pension Department.
The Head, of the Corporate Communications Unit, Pension Transitional Arrangement Directorate, Olugbenga Ajayi, says the payment represents 39 per cent of the accrued pension arrears owed pensioners in the said sectors for the period August 2015 to September 2023.
He says this is a result of the computation of the monthly pension of pensioners of PaPD based on their career details, salary structure and applicable pension increments.
The Federal Government says it has finalised payment of N1.02bn to 7, 091 pensioners of the Power and Transport Sectors of the Parastatals Pension Department.
The Head, of the Corporate Communications Unit, Pension Transitional Arrangement Directorate, Olugbenga Ajayi, says the payment represents 39 per cent of the accrued pension arrears owed pensioners in the said sectors for the period August 2015 to September 2023.
He says this is a result of the computation of the monthly pension of pensioners of PaPD based on their career details, salary structure and applicable pension increments.
The Federal Government says it has finalised payment of N1.02bn to 7, 091 pensioners of the Power and Transport Sectors of the Parastatals Pension Department.
The Head, of the Corporate Communications Unit, Pension Transitional Arrangement Directorate, Olugbenga Ajayi, says the payment represents 39 per cent of the accrued pension arrears owed pensioners in the said sectors for the period August 2015 to September 2023.
He says this is a result of the computation of the monthly pension of pensioners of PaPD based on their career details, salary structure and applicable pension increments.
The Federal Government says it has finalised payment of N1.02bn to 7, 091 pensioners of the Power and Transport Sectors of the Parastatals Pension Department.
The Head, of the Corporate Communications Unit, Pension Transitional Arrangement Directorate, Olugbenga Ajayi, says the payment represents 39 per cent of the accrued pension arrears owed pensioners in the said sectors for the period August 2015 to September 2023.
He says this is a result of the computation of the monthly pension of pensioners of PaPD based on their career details, salary structure and applicable pension increments.
The Federal Government says it has finalised payment of N1.02bn to 7, 091 pensioners of the Power and Transport Sectors of the Parastatals Pension Department.
The Head, of the Corporate Communications Unit, Pension Transitional Arrangement Directorate, Olugbenga Ajayi, says the payment represents 39 per cent of the accrued pension arrears owed pensioners in the said sectors for the period August 2015 to September 2023.
He says this is a result of the computation of the monthly pension of pensioners of PaPD based on their career details, salary structure and applicable pension increments.
Dangote Industries Limited has revealed that it has so far repatriated over $687.98m through various banks in Nigeria.
The company says it brought in $576,008,672.41 through various banks in Nigeria, in addition to a $111,968,109.38 cash swap arrangement between Dangote Cement Plc and Ethiopian Airlines.
Dangote re-affirmed its determination and belief in Nigeria, noting that the government of President Bola Ahmed Tinubu had shown the will and resolve to get the economy moving again.
Dangote Industries Limited has revealed that it has so far repatriated over $687.98m through various banks in Nigeria.
The company says it brought in $576,008,672.41 through various banks in Nigeria, in addition to a $111,968,109.38 cash swap arrangement between Dangote Cement Plc and Ethiopian Airlines.
Dangote re-affirmed its determination and belief in Nigeria, noting that the government of President Bola Ahmed Tinubu had shown the will and resolve to get the economy moving again.
Dangote Industries Limited has revealed that it has so far repatriated over $687.98m through various banks in Nigeria.
The company says it brought in $576,008,672.41 through various banks in Nigeria, in addition to a $111,968,109.38 cash swap arrangement between Dangote Cement Plc and Ethiopian Airlines.
Dangote re-affirmed its determination and belief in Nigeria, noting that the government of President Bola Ahmed Tinubu had shown the will and resolve to get the economy moving again.
Dangote Industries Limited has revealed that it has so far repatriated over $687.98m through various banks in Nigeria.
The company says it brought in $576,008,672.41 through various banks in Nigeria, in addition to a $111,968,109.38 cash swap arrangement between Dangote Cement Plc and Ethiopian Airlines.
Dangote re-affirmed its determination and belief in Nigeria, noting that the government of President Bola Ahmed Tinubu had shown the will and resolve to get the economy moving again.
Dangote Industries Limited has revealed that it has so far repatriated over $687.98m through various banks in Nigeria.
The company says it brought in $576,008,672.41 through various banks in Nigeria, in addition to a $111,968,109.38 cash swap arrangement between Dangote Cement Plc and Ethiopian Airlines.
Dangote re-affirmed its determination and belief in Nigeria, noting that the government of President Bola Ahmed Tinubu had shown the will and resolve to get the economy moving again.
Dangote Industries Limited has revealed that it has so far repatriated over $687.98m through various banks in Nigeria.
The company says it brought in $576,008,672.41 through various banks in Nigeria, in addition to a $111,968,109.38 cash swap arrangement between Dangote Cement Plc and Ethiopian Airlines.
Dangote re-affirmed its determination and belief in Nigeria, noting that the government of President Bola Ahmed Tinubu had shown the will and resolve to get the economy moving again.
President Bola Tinubu will travel to Riyadh, the Kingdom of Saudi Arabia, over the next few days in what has been termed an aggressive push to promote Nigeria and attract foreign direct investment.
Presidential spokesman, Ajuri Ngelale, says the President will be attending the Saudi-Africa Summit and the Arab African Summit which are scheduled to be held on the 10th and 11th of November 2023 respectively.
The presidential spokesman, says the President in Saudi Arabia, would discuss several issues of mutual concern with respect to economic ties between the regions and with respect to the issues of counter-terrorism, the environment and agriculture.
President Bola Tinubu will travel to Riyadh, the Kingdom of Saudi Arabia, over the next few days in what has been termed an aggressive push to promote Nigeria and attract foreign direct investment.
Presidential spokesman, Ajuri Ngelale, says the President will be attending the Saudi-Africa Summit and the Arab African Summit which are scheduled to be held on the 10th and 11th of November 2023 respectively.
The presidential spokesman, says the President in Saudi Arabia, would discuss several issues of mutual concern with respect to economic ties between the regions and with respect to the issues of counter-terrorism, the environment and agriculture.
President Bola Tinubu will travel to Riyadh, the Kingdom of Saudi Arabia, over the next few days in what has been termed an aggressive push to promote Nigeria and attract foreign direct investment.
Presidential spokesman, Ajuri Ngelale, says the President will be attending the Saudi-Africa Summit and the Arab African Summit which are scheduled to be held on the 10th and 11th of November 2023 respectively.
The presidential spokesman, says the President in Saudi Arabia, would discuss several issues of mutual concern with respect to economic ties between the regions and with respect to the issues of counter-terrorism, the environment and agriculture.
President Bola Tinubu will travel to Riyadh, the Kingdom of Saudi Arabia, over the next few days in what has been termed an aggressive push to promote Nigeria and attract foreign direct investment.
Presidential spokesman, Ajuri Ngelale, says the President will be attending the Saudi-Africa Summit and the Arab African Summit which are scheduled to be held on the 10th and 11th of November 2023 respectively.
The presidential spokesman, says the President in Saudi Arabia, would discuss several issues of mutual concern with respect to economic ties between the regions and with respect to the issues of counter-terrorism, the environment and agriculture.
President Bola Tinubu will travel to Riyadh, the Kingdom of Saudi Arabia, over the next few days in what has been termed an aggressive push to promote Nigeria and attract foreign direct investment.
Presidential spokesman, Ajuri Ngelale, says the President will be attending the Saudi-Africa Summit and the Arab African Summit which are scheduled to be held on the 10th and 11th of November 2023 respectively.
The presidential spokesman, says the President in Saudi Arabia, would discuss several issues of mutual concern with respect to economic ties between the regions and with respect to the issues of counter-terrorism, the environment and agriculture.
President Bola Tinubu will travel to Riyadh, the Kingdom of Saudi Arabia, over the next few days in what has been termed an aggressive push to promote Nigeria and attract foreign direct investment.
Presidential spokesman, Ajuri Ngelale, says the President will be attending the Saudi-Africa Summit and the Arab African Summit which are scheduled to be held on the 10th and 11th of November 2023 respectively.
The presidential spokesman, says the President in Saudi Arabia, would discuss several issues of mutual concern with respect to economic ties between the regions and with respect to the issues of counter-terrorism, the environment and agriculture.
Telegram, the encrypted messaging app, has restricted access to several channels affiliated with the Palestinian armed group Hamas.
Hamas’s official account, the account of its armed wing the Qassam Brigades, and the news account Gaza Now have not been accessible on versions of Telegram downloaded from Google Play or Apple’s App Store since last week.
The restrictions appeared after the Zachor Legal Institute, a US-based lobby group that campaigns against anti-Israel movements, last week wrote a letter to Apple pointing out that seven Hamas-linked accounts remained accessible on iOS despite being blocked for Android users.
Telegram, the encrypted messaging app, has restricted access to several channels affiliated with the Palestinian armed group Hamas.
Hamas’s official account, the account of its armed wing the Qassam Brigades, and the news account Gaza Now have not been accessible on versions of Telegram downloaded from Google Play or Apple’s App Store since last week.
The restrictions appeared after the Zachor Legal Institute, a US-based lobby group that campaigns against anti-Israel movements, last week wrote a letter to Apple pointing out that seven Hamas-linked accounts remained accessible on iOS despite being blocked for Android users.
Telegram, the encrypted messaging app, has restricted access to several channels affiliated with the Palestinian armed group Hamas.
Hamas’s official account, the account of its armed wing the Qassam Brigades, and the news account Gaza Now have not been accessible on versions of Telegram downloaded from Google Play or Apple’s App Store since last week.
The restrictions appeared after the Zachor Legal Institute, a US-based lobby group that campaigns against anti-Israel movements, last week wrote a letter to Apple pointing out that seven Hamas-linked accounts remained accessible on iOS despite being blocked for Android users.
Telegram, the encrypted messaging app, has restricted access to several channels affiliated with the Palestinian armed group Hamas.
Hamas’s official account, the account of its armed wing the Qassam Brigades, and the news account Gaza Now have not been accessible on versions of Telegram downloaded from Google Play or Apple’s App Store since last week.
The restrictions appeared after the Zachor Legal Institute, a US-based lobby group that campaigns against anti-Israel movements, last week wrote a letter to Apple pointing out that seven Hamas-linked accounts remained accessible on iOS despite being blocked for Android users.
Telegram, the encrypted messaging app, has restricted access to several channels affiliated with the Palestinian armed group Hamas.
Hamas’s official account, the account of its armed wing the Qassam Brigades, and the news account Gaza Now have not been accessible on versions of Telegram downloaded from Google Play or Apple’s App Store since last week.
The restrictions appeared after the Zachor Legal Institute, a US-based lobby group that campaigns against anti-Israel movements, last week wrote a letter to Apple pointing out that seven Hamas-linked accounts remained accessible on iOS despite being blocked for Android users.
Telegram, the encrypted messaging app, has restricted access to several channels affiliated with the Palestinian armed group Hamas.
Hamas’s official account, the account of its armed wing the Qassam Brigades, and the news account Gaza Now have not been accessible on versions of Telegram downloaded from Google Play or Apple’s App Store since last week.
The restrictions appeared after the Zachor Legal Institute, a US-based lobby group that campaigns against anti-Israel movements, last week wrote a letter to Apple pointing out that seven Hamas-linked accounts remained accessible on iOS despite being blocked for Android users.
Apple sales have continued to fall, despite strong demand for its iPhones and services like streaming platform Apple TV+.
The tech giant says revenues dipped 1% to $89.5bn (in the three months to 30 September when compared with the same period last year.
Sales of its Mac computers and iPads struggled after a post-lockdown surge in interest.
It marks the fourth quarter in a row where sales have fallen year on year.
The firm says that profits had reached $23bn, helped by a new record for iPhone sales in the three-month period.
The amount it took from services such as iCloud and Apple Music also hit a high, bringing in $22.3bn for the California-based firm, up 16% from a year before.
Apple sales have continued to fall, despite strong demand for its iPhones and services like streaming platform Apple TV+.
The tech giant says revenues dipped 1% to $89.5bn (in the three months to 30 September when compared with the same period last year.
Sales of its Mac computers and iPads struggled after a post-lockdown surge in interest.
It marks the fourth quarter in a row where sales have fallen year on year.
The firm says that profits had reached $23bn, helped by a new record for iPhone sales in the three-month period.
The amount it took from services such as iCloud and Apple Music also hit a high, bringing in $22.3bn for the California-based firm, up 16% from a year before.
Apple sales have continued to fall, despite strong demand for its iPhones and services like streaming platform Apple TV+.
The tech giant says revenues dipped 1% to $89.5bn (in the three months to 30 September when compared with the same period last year.
Sales of its Mac computers and iPads struggled after a post-lockdown surge in interest.
It marks the fourth quarter in a row where sales have fallen year on year.
The firm says that profits had reached $23bn, helped by a new record for iPhone sales in the three-month period.
The amount it took from services such as iCloud and Apple Music also hit a high, bringing in $22.3bn for the California-based firm, up 16% from a year before.
Apple sales have continued to fall, despite strong demand for its iPhones and services like streaming platform Apple TV+.
The tech giant says revenues dipped 1% to $89.5bn (in the three months to 30 September when compared with the same period last year.
Sales of its Mac computers and iPads struggled after a post-lockdown surge in interest.
It marks the fourth quarter in a row where sales have fallen year on year.
The firm says that profits had reached $23bn, helped by a new record for iPhone sales in the three-month period.
The amount it took from services such as iCloud and Apple Music also hit a high, bringing in $22.3bn for the California-based firm, up 16% from a year before.
Apple sales have continued to fall, despite strong demand for its iPhones and services like streaming platform Apple TV+.
The tech giant says revenues dipped 1% to $89.5bn (in the three months to 30 September when compared with the same period last year.
Sales of its Mac computers and iPads struggled after a post-lockdown surge in interest.
It marks the fourth quarter in a row where sales have fallen year on year.
The firm says that profits had reached $23bn, helped by a new record for iPhone sales in the three-month period.
The amount it took from services such as iCloud and Apple Music also hit a high, bringing in $22.3bn for the California-based firm, up 16% from a year before.
Apple sales have continued to fall, despite strong demand for its iPhones and services like streaming platform Apple TV+.
The tech giant says revenues dipped 1% to $89.5bn (in the three months to 30 September when compared with the same period last year.
Sales of its Mac computers and iPads struggled after a post-lockdown surge in interest.
It marks the fourth quarter in a row where sales have fallen year on year.
The firm says that profits had reached $23bn, helped by a new record for iPhone sales in the three-month period.
The amount it took from services such as iCloud and Apple Music also hit a high, bringing in $22.3bn for the California-based firm, up 16% from a year before.
President Edgar Lungu following his decision to return to active politics. Mr Lungu lost the presidency to Hakainde Hichilema in 2021, after which he announced his retirement.
The former president has already been notified about the immediate withdrawal of his retirement benefits and privileges.
Government spokesman Cornelius Mweetwa says it was clearly stated in the law that former presidents who returned to politics would lose their benefits.
Mr Mweetwa said the former leader would now be treated with equality of the law just like any other senior citizen of the country.
President Edgar Lungu following his decision to return to active politics. Mr Lungu lost the presidency to Hakainde Hichilema in 2021, after which he announced his retirement.
The former president has already been notified about the immediate withdrawal of his retirement benefits and privileges.
Government spokesman Cornelius Mweetwa says it was clearly stated in the law that former presidents who returned to politics would lose their benefits.
Mr Mweetwa said the former leader would now be treated with equality of the law just like any other senior citizen of the country.
President Edgar Lungu following his decision to return to active politics. Mr Lungu lost the presidency to Hakainde Hichilema in 2021, after which he announced his retirement.
The former president has already been notified about the immediate withdrawal of his retirement benefits and privileges.
Government spokesman Cornelius Mweetwa says it was clearly stated in the law that former presidents who returned to politics would lose their benefits.
Mr Mweetwa said the former leader would now be treated with equality of the law just like any other senior citizen of the country.
President Edgar Lungu following his decision to return to active politics. Mr Lungu lost the presidency to Hakainde Hichilema in 2021, after which he announced his retirement.
The former president has already been notified about the immediate withdrawal of his retirement benefits and privileges.
Government spokesman Cornelius Mweetwa says it was clearly stated in the law that former presidents who returned to politics would lose their benefits.
Mr Mweetwa said the former leader would now be treated with equality of the law just like any other senior citizen of the country.
President Edgar Lungu following his decision to return to active politics. Mr Lungu lost the presidency to Hakainde Hichilema in 2021, after which he announced his retirement.
The former president has already been notified about the immediate withdrawal of his retirement benefits and privileges.
Government spokesman Cornelius Mweetwa says it was clearly stated in the law that former presidents who returned to politics would lose their benefits.
Mr Mweetwa said the former leader would now be treated with equality of the law just like any other senior citizen of the country.
President Edgar Lungu following his decision to return to active politics. Mr Lungu lost the presidency to Hakainde Hichilema in 2021, after which he announced his retirement.
The former president has already been notified about the immediate withdrawal of his retirement benefits and privileges.
Government spokesman Cornelius Mweetwa says it was clearly stated in the law that former presidents who returned to politics would lose their benefits.
Mr Mweetwa said the former leader would now be treated with equality of the law just like any other senior citizen of the country.
Rwandan President Paul Kagame has introduced visa-free travel for all Africans, making Rwanda the fourth African country to do so.
President Kagame says that that the move was aimed at capitalising on Africa’s growing tourism market, driven by the continent's growing middle class.
Rwanda has been on a campaign to boost its tourism sector, partnering with football clubs like Arsenal and Bayern Munich to promote the country as a tourist destination.
Rwanda now joins Seychelles, The Gambia and Benin, the only African countries that provide visa-free entry for all African citizens.
Rwandan President Paul Kagame has introduced visa-free travel for all Africans, making Rwanda the fourth African country to do so.
President Kagame says that that the move was aimed at capitalising on Africa’s growing tourism market, driven by the continent's growing middle class.
Rwanda has been on a campaign to boost its tourism sector, partnering with football clubs like Arsenal and Bayern Munich to promote the country as a tourist destination.
Rwanda now joins Seychelles, The Gambia and Benin, the only African countries that provide visa-free entry for all African citizens.
Rwandan President Paul Kagame has introduced visa-free travel for all Africans, making Rwanda the fourth African country to do so.
President Kagame says that that the move was aimed at capitalising on Africa’s growing tourism market, driven by the continent's growing middle class.
Rwanda has been on a campaign to boost its tourism sector, partnering with football clubs like Arsenal and Bayern Munich to promote the country as a tourist destination.
Rwanda now joins Seychelles, The Gambia and Benin, the only African countries that provide visa-free entry for all African citizens.
Rwandan President Paul Kagame has introduced visa-free travel for all Africans, making Rwanda the fourth African country to do so.
President Kagame says that that the move was aimed at capitalising on Africa’s growing tourism market, driven by the continent's growing middle class.
Rwanda has been on a campaign to boost its tourism sector, partnering with football clubs like Arsenal and Bayern Munich to promote the country as a tourist destination.
Rwanda now joins Seychelles, The Gambia and Benin, the only African countries that provide visa-free entry for all African citizens.
Rwandan President Paul Kagame has introduced visa-free travel for all Africans, making Rwanda the fourth African country to do so.
President Kagame says that that the move was aimed at capitalising on Africa’s growing tourism market, driven by the continent's growing middle class.
Rwanda has been on a campaign to boost its tourism sector, partnering with football clubs like Arsenal and Bayern Munich to promote the country as a tourist destination.
Rwanda now joins Seychelles, The Gambia and Benin, the only African countries that provide visa-free entry for all African citizens.
Rwandan President Paul Kagame has introduced visa-free travel for all Africans, making Rwanda the fourth African country to do so.
President Kagame says that that the move was aimed at capitalising on Africa’s growing tourism market, driven by the continent's growing middle class.
Rwanda has been on a campaign to boost its tourism sector, partnering with football clubs like Arsenal and Bayern Munich to promote the country as a tourist destination.
Rwanda now joins Seychelles, The Gambia and Benin, the only African countries that provide visa-free entry for all African citizens.
President Vladimir Putin says that Russian companies have a serious interest in extracting mineral resources in Equatorial Guinea.
He held talks with Equatoguinean President Teodoro Obiang Nguema in Moscow, where both leaders agreed to boost bilateral ties.
Putin says the potential investment capacity is big, and the country's capacity to develop these relations is also good.
Equatorial Guinea, a small oil-rich central African country, is endowed with many mineral resources such as gold, diamond, uranium and gas.
President Nguema welcomed Russian companies for investment in his country.
He also thanked Russia for reopening its embassy in Equatorial Guinea.
President Vladimir Putin says that Russian companies have a serious interest in extracting mineral resources in Equatorial Guinea.
He held talks with Equatoguinean President Teodoro Obiang Nguema in Moscow, where both leaders agreed to boost bilateral ties.
Putin says the potential investment capacity is big, and the country's capacity to develop these relations is also good.
Equatorial Guinea, a small oil-rich central African country, is endowed with many mineral resources such as gold, diamond, uranium and gas.
President Nguema welcomed Russian companies for investment in his country.
He also thanked Russia for reopening its embassy in Equatorial Guinea.
President Vladimir Putin says that Russian companies have a serious interest in extracting mineral resources in Equatorial Guinea.
He held talks with Equatoguinean President Teodoro Obiang Nguema in Moscow, where both leaders agreed to boost bilateral ties.
Putin says the potential investment capacity is big, and the country's capacity to develop these relations is also good.
Equatorial Guinea, a small oil-rich central African country, is endowed with many mineral resources such as gold, diamond, uranium and gas.
President Nguema welcomed Russian companies for investment in his country.
He also thanked Russia for reopening its embassy in Equatorial Guinea.
President Vladimir Putin says that Russian companies have a serious interest in extracting mineral resources in Equatorial Guinea.
He held talks with Equatoguinean President Teodoro Obiang Nguema in Moscow, where both leaders agreed to boost bilateral ties.
Putin says the potential investment capacity is big, and the country's capacity to develop these relations is also good.
Equatorial Guinea, a small oil-rich central African country, is endowed with many mineral resources such as gold, diamond, uranium and gas.
President Nguema welcomed Russian companies for investment in his country.
He also thanked Russia for reopening its embassy in Equatorial Guinea.
President Vladimir Putin says that Russian companies have a serious interest in extracting mineral resources in Equatorial Guinea.
He held talks with Equatoguinean President Teodoro Obiang Nguema in Moscow, where both leaders agreed to boost bilateral ties.
Putin says the potential investment capacity is big, and the country's capacity to develop these relations is also good.
Equatorial Guinea, a small oil-rich central African country, is endowed with many mineral resources such as gold, diamond, uranium and gas.
President Nguema welcomed Russian companies for investment in his country.
He also thanked Russia for reopening its embassy in Equatorial Guinea.
President Vladimir Putin says that Russian companies have a serious interest in extracting mineral resources in Equatorial Guinea.
He held talks with Equatoguinean President Teodoro Obiang Nguema in Moscow, where both leaders agreed to boost bilateral ties.
Putin says the potential investment capacity is big, and the country's capacity to develop these relations is also good.
Equatorial Guinea, a small oil-rich central African country, is endowed with many mineral resources such as gold, diamond, uranium and gas.
President Nguema welcomed Russian companies for investment in his country.
He also thanked Russia for reopening its embassy in Equatorial Guinea.
Nigeria's lower chamber of parliament has rejected the government's plan to buy a presidential yacht for $6m.
Abubakar Bichi says Lawmakers instead moved the $6m to the student loan budget, doubling its allocation.
The budget also earmarks $36m for State House expenditure, including the purchase of luxury vehicles and the construction of a presidential office complex.
The government is also planning to spend $15m on the presidential air fleet.
Edgar Lungu - Zambian ex-president stripped of retirement benefits
Nigeria's lower chamber of parliament has rejected the government's plan to buy a presidential yacht for $6m.
Abubakar Bichi says Lawmakers instead moved the $6m to the student loan budget, doubling its allocation.
The budget also earmarks $36m for State House expenditure, including the purchase of luxury vehicles and the construction of a presidential office complex.
The government is also planning to spend $15m on the presidential air fleet.
Edgar Lungu - Zambian ex-president stripped of retirement benefits
Nigeria's lower chamber of parliament has rejected the government's plan to buy a presidential yacht for $6m.
Abubakar Bichi says Lawmakers instead moved the $6m to the student loan budget, doubling its allocation.
The budget also earmarks $36m for State House expenditure, including the purchase of luxury vehicles and the construction of a presidential office complex.
The government is also planning to spend $15m on the presidential air fleet.
Edgar Lungu - Zambian ex-president stripped of retirement benefits
Nigeria's lower chamber of parliament has rejected the government's plan to buy a presidential yacht for $6m.
Abubakar Bichi says Lawmakers instead moved the $6m to the student loan budget, doubling its allocation.
The budget also earmarks $36m for State House expenditure, including the purchase of luxury vehicles and the construction of a presidential office complex.
The government is also planning to spend $15m on the presidential air fleet.
Edgar Lungu - Zambian ex-president stripped of retirement benefits
Nigeria's lower chamber of parliament has rejected the government's plan to buy a presidential yacht for $6m.
Abubakar Bichi says Lawmakers instead moved the $6m to the student loan budget, doubling its allocation.
The budget also earmarks $36m for State House expenditure, including the purchase of luxury vehicles and the construction of a presidential office complex.
The government is also planning to spend $15m on the presidential air fleet.
Edgar Lungu - Zambian ex-president stripped of retirement benefits
Nigeria's lower chamber of parliament has rejected the government's plan to buy a presidential yacht for $6m.
Abubakar Bichi says Lawmakers instead moved the $6m to the student loan budget, doubling its allocation.
The budget also earmarks $36m for State House expenditure, including the purchase of luxury vehicles and the construction of a presidential office complex.
The government is also planning to spend $15m on the presidential air fleet.
Edgar Lungu - Zambian ex-president stripped of retirement benefits
The Central Bank of Nigeria debunked rumours of naira scarcity in the country, amid reports that there is no sufficient cash circulation in some commercial banks nationwide.
CBN spokesman, Isa AbdulMumin, blamed some customers for panic withdrawal using the Automated Teller Machines.
AbdulMumin, however, assured that the apex bank was working to ensure the seamless circulation of cash nationwide.
The apex bank also urged Nigerians to guard against panic withdrawals, assuring that there is sufficient stock to facilitate economic activities.
The Central Bank of Nigeria debunked rumours of naira scarcity in the country, amid reports that there is no sufficient cash circulation in some commercial banks nationwide.
CBN spokesman, Isa AbdulMumin, blamed some customers for panic withdrawal using the Automated Teller Machines.
AbdulMumin, however, assured that the apex bank was working to ensure the seamless circulation of cash nationwide.
The apex bank also urged Nigerians to guard against panic withdrawals, assuring that there is sufficient stock to facilitate economic activities.
The Central Bank of Nigeria debunked rumours of naira scarcity in the country, amid reports that there is no sufficient cash circulation in some commercial banks nationwide.
CBN spokesman, Isa AbdulMumin, blamed some customers for panic withdrawal using the Automated Teller Machines.
AbdulMumin, however, assured that the apex bank was working to ensure the seamless circulation of cash nationwide.
The apex bank also urged Nigerians to guard against panic withdrawals, assuring that there is sufficient stock to facilitate economic activities.
The Central Bank of Nigeria debunked rumours of naira scarcity in the country, amid reports that there is no sufficient cash circulation in some commercial banks nationwide.
CBN spokesman, Isa AbdulMumin, blamed some customers for panic withdrawal using the Automated Teller Machines.
AbdulMumin, however, assured that the apex bank was working to ensure the seamless circulation of cash nationwide.
The apex bank also urged Nigerians to guard against panic withdrawals, assuring that there is sufficient stock to facilitate economic activities.
The Central Bank of Nigeria debunked rumours of naira scarcity in the country, amid reports that there is no sufficient cash circulation in some commercial banks nationwide.
CBN spokesman, Isa AbdulMumin, blamed some customers for panic withdrawal using the Automated Teller Machines.
AbdulMumin, however, assured that the apex bank was working to ensure the seamless circulation of cash nationwide.
The apex bank also urged Nigerians to guard against panic withdrawals, assuring that there is sufficient stock to facilitate economic activities.
The Central Bank of Nigeria debunked rumours of naira scarcity in the country, amid reports that there is no sufficient cash circulation in some commercial banks nationwide.
CBN spokesman, Isa AbdulMumin, blamed some customers for panic withdrawal using the Automated Teller Machines.
AbdulMumin, however, assured that the apex bank was working to ensure the seamless circulation of cash nationwide.
The apex bank also urged Nigerians to guard against panic withdrawals, assuring that there is sufficient stock to facilitate economic activities.
The Senate and the House of Representatives passed the N2.17trn 2023 supplementary appropriation bill after a third reading.
The Senate adopted the report of the harmonised sittings of both red and green chambers on the 2023 Supplementary Appropriation Bill as submitted by the Chairman of the Appropriations Committee, Senator Solomon Olamilekan Adeola.
The bill expeditiously scaled readings in both upper and lower chambers as lawmakers said it was for the benefit of the country.
President Bola Tinubu had written the National Assembly seeking the approval of the sum of N2,176,791,286,033 as the 2023 supplementary budget to address labour wage adjustments, security, and more.
The Senate and the House of Representatives passed the N2.17trn 2023 supplementary appropriation bill after a third reading.
The Senate adopted the report of the harmonised sittings of both red and green chambers on the 2023 Supplementary Appropriation Bill as submitted by the Chairman of the Appropriations Committee, Senator Solomon Olamilekan Adeola.
The bill expeditiously scaled readings in both upper and lower chambers as lawmakers said it was for the benefit of the country.
President Bola Tinubu had written the National Assembly seeking the approval of the sum of N2,176,791,286,033 as the 2023 supplementary budget to address labour wage adjustments, security, and more.
The Senate and the House of Representatives passed the N2.17trn 2023 supplementary appropriation bill after a third reading.
The Senate adopted the report of the harmonised sittings of both red and green chambers on the 2023 Supplementary Appropriation Bill as submitted by the Chairman of the Appropriations Committee, Senator Solomon Olamilekan Adeola.
The bill expeditiously scaled readings in both upper and lower chambers as lawmakers said it was for the benefit of the country.
President Bola Tinubu had written the National Assembly seeking the approval of the sum of N2,176,791,286,033 as the 2023 supplementary budget to address labour wage adjustments, security, and more.
The Senate and the House of Representatives passed the N2.17trn 2023 supplementary appropriation bill after a third reading.
The Senate adopted the report of the harmonised sittings of both red and green chambers on the 2023 Supplementary Appropriation Bill as submitted by the Chairman of the Appropriations Committee, Senator Solomon Olamilekan Adeola.
The bill expeditiously scaled readings in both upper and lower chambers as lawmakers said it was for the benefit of the country.
President Bola Tinubu had written the National Assembly seeking the approval of the sum of N2,176,791,286,033 as the 2023 supplementary budget to address labour wage adjustments, security, and more.
The Senate and the House of Representatives passed the N2.17trn 2023 supplementary appropriation bill after a third reading.
The Senate adopted the report of the harmonised sittings of both red and green chambers on the 2023 Supplementary Appropriation Bill as submitted by the Chairman of the Appropriations Committee, Senator Solomon Olamilekan Adeola.
The bill expeditiously scaled readings in both upper and lower chambers as lawmakers said it was for the benefit of the country.
President Bola Tinubu had written the National Assembly seeking the approval of the sum of N2,176,791,286,033 as the 2023 supplementary budget to address labour wage adjustments, security, and more.
The Senate and the House of Representatives passed the N2.17trn 2023 supplementary appropriation bill after a third reading.
The Senate adopted the report of the harmonised sittings of both red and green chambers on the 2023 Supplementary Appropriation Bill as submitted by the Chairman of the Appropriations Committee, Senator Solomon Olamilekan Adeola.
The bill expeditiously scaled readings in both upper and lower chambers as lawmakers said it was for the benefit of the country.
President Bola Tinubu had written the National Assembly seeking the approval of the sum of N2,176,791,286,033 as the 2023 supplementary budget to address labour wage adjustments, security, and more.
Former Vice President Mike Pence dropped his bid for the Republican presidential nomination, ending his campaign for the White House after struggling to raise money and gain traction in the polls.
Pence says after much prayer and deliberation and decided to suspend my campaign for president effective today.
Pence is the first major candidate to leave a race that has been dominated by his former boss-turned-rival, Donald Trump, and his struggles underscore just how much Trump has transformed the party.
Former Vice President Mike Pence dropped his bid for the Republican presidential nomination, ending his campaign for the White House after struggling to raise money and gain traction in the polls.
Pence says after much prayer and deliberation and decided to suspend my campaign for president effective today.
Pence is the first major candidate to leave a race that has been dominated by his former boss-turned-rival, Donald Trump, and his struggles underscore just how much Trump has transformed the party.
Former Vice President Mike Pence dropped his bid for the Republican presidential nomination, ending his campaign for the White House after struggling to raise money and gain traction in the polls.
Pence says after much prayer and deliberation and decided to suspend my campaign for president effective today.
Pence is the first major candidate to leave a race that has been dominated by his former boss-turned-rival, Donald Trump, and his struggles underscore just how much Trump has transformed the party.
Former Vice President Mike Pence dropped his bid for the Republican presidential nomination, ending his campaign for the White House after struggling to raise money and gain traction in the polls.
Pence says after much prayer and deliberation and decided to suspend my campaign for president effective today.
Pence is the first major candidate to leave a race that has been dominated by his former boss-turned-rival, Donald Trump, and his struggles underscore just how much Trump has transformed the party.
Former Vice President Mike Pence dropped his bid for the Republican presidential nomination, ending his campaign for the White House after struggling to raise money and gain traction in the polls.
Pence says after much prayer and deliberation and decided to suspend my campaign for president effective today.
Pence is the first major candidate to leave a race that has been dominated by his former boss-turned-rival, Donald Trump, and his struggles underscore just how much Trump has transformed the party.
Former Vice President Mike Pence dropped his bid for the Republican presidential nomination, ending his campaign for the White House after struggling to raise money and gain traction in the polls.
Pence says after much prayer and deliberation and decided to suspend my campaign for president effective today.
Pence is the first major candidate to leave a race that has been dominated by his former boss-turned-rival, Donald Trump, and his struggles underscore just how much Trump has transformed the party.
Micheál Martin says UK government ministers need to be careful when discussing possible changes to the terms of a referendum on Irish unity.
Minister Steve Baker reportedly said such a vote should need a super-majority for it to succeed.
Mr Martin says agreements can't be rewritten on the hoof, 60% for this or 70% for that.
The 1998 Good Friday peace agreement states that Northern Ireland's constitutional status cannot change without the consent of a majority of its people.
Micheál Martin says UK government ministers need to be careful when discussing possible changes to the terms of a referendum on Irish unity.
Minister Steve Baker reportedly said such a vote should need a super-majority for it to succeed.
Mr Martin says agreements can't be rewritten on the hoof, 60% for this or 70% for that.
The 1998 Good Friday peace agreement states that Northern Ireland's constitutional status cannot change without the consent of a majority of its people.
Micheál Martin says UK government ministers need to be careful when discussing possible changes to the terms of a referendum on Irish unity.
Minister Steve Baker reportedly said such a vote should need a super-majority for it to succeed.
Mr Martin says agreements can't be rewritten on the hoof, 60% for this or 70% for that.
The 1998 Good Friday peace agreement states that Northern Ireland's constitutional status cannot change without the consent of a majority of its people.
Micheál Martin says UK government ministers need to be careful when discussing possible changes to the terms of a referendum on Irish unity.
Minister Steve Baker reportedly said such a vote should need a super-majority for it to succeed.
Mr Martin says agreements can't be rewritten on the hoof, 60% for this or 70% for that.
The 1998 Good Friday peace agreement states that Northern Ireland's constitutional status cannot change without the consent of a majority of its people.
Micheál Martin says UK government ministers need to be careful when discussing possible changes to the terms of a referendum on Irish unity.
Minister Steve Baker reportedly said such a vote should need a super-majority for it to succeed.
Mr Martin says agreements can't be rewritten on the hoof, 60% for this or 70% for that.
The 1998 Good Friday peace agreement states that Northern Ireland's constitutional status cannot change without the consent of a majority of its people.
Micheál Martin says UK government ministers need to be careful when discussing possible changes to the terms of a referendum on Irish unity.
Minister Steve Baker reportedly said such a vote should need a super-majority for it to succeed.
Mr Martin says agreements can't be rewritten on the hoof, 60% for this or 70% for that.
The 1998 Good Friday peace agreement states that Northern Ireland's constitutional status cannot change without the consent of a majority of its people.
A Hong Kong High Court judge has given crisis-hit Chinese property giant Evergrande one last chance to come up with a new deal over its huge debts or face liquidation.
Justice Linda Chan says it would be the last hearing before a decision is made.
Evergrande is the world's most indebted property developer with more than $325bn of total liabilities.
Justice Chan says Evergrande had to come up with a concrete proposal otherwise it was likely the company would be wound up.
Evergrande says that it was barred by Chinese regulators from issuing new dollar bonds, which was a key part of its plan to restructure its debts.
A Hong Kong High Court judge has given crisis-hit Chinese property giant Evergrande one last chance to come up with a new deal over its huge debts or face liquidation.
Justice Linda Chan says it would be the last hearing before a decision is made.
Evergrande is the world's most indebted property developer with more than $325bn of total liabilities.
Justice Chan says Evergrande had to come up with a concrete proposal otherwise it was likely the company would be wound up.
Evergrande says that it was barred by Chinese regulators from issuing new dollar bonds, which was a key part of its plan to restructure its debts.
A Hong Kong High Court judge has given crisis-hit Chinese property giant Evergrande one last chance to come up with a new deal over its huge debts or face liquidation.
Justice Linda Chan says it would be the last hearing before a decision is made.
Evergrande is the world's most indebted property developer with more than $325bn of total liabilities.
Justice Chan says Evergrande had to come up with a concrete proposal otherwise it was likely the company would be wound up.
Evergrande says that it was barred by Chinese regulators from issuing new dollar bonds, which was a key part of its plan to restructure its debts.
A Hong Kong High Court judge has given crisis-hit Chinese property giant Evergrande one last chance to come up with a new deal over its huge debts or face liquidation.
Justice Linda Chan says it would be the last hearing before a decision is made.
Evergrande is the world's most indebted property developer with more than $325bn of total liabilities.
Justice Chan says Evergrande had to come up with a concrete proposal otherwise it was likely the company would be wound up.
Evergrande says that it was barred by Chinese regulators from issuing new dollar bonds, which was a key part of its plan to restructure its debts.
A Hong Kong High Court judge has given crisis-hit Chinese property giant Evergrande one last chance to come up with a new deal over its huge debts or face liquidation.
Justice Linda Chan says it would be the last hearing before a decision is made.
Evergrande is the world's most indebted property developer with more than $325bn of total liabilities.
Justice Chan says Evergrande had to come up with a concrete proposal otherwise it was likely the company would be wound up.
Evergrande says that it was barred by Chinese regulators from issuing new dollar bonds, which was a key part of its plan to restructure its debts.
A Hong Kong High Court judge has given crisis-hit Chinese property giant Evergrande one last chance to come up with a new deal over its huge debts or face liquidation.
Justice Linda Chan says it would be the last hearing before a decision is made.
Evergrande is the world's most indebted property developer with more than $325bn of total liabilities.
Justice Chan says Evergrande had to come up with a concrete proposal otherwise it was likely the company would be wound up.
Evergrande says that it was barred by Chinese regulators from issuing new dollar bonds, which was a key part of its plan to restructure its debts.
South Africa's parliament has passed a major education bill that could see parents face prison if their children are not in school.
Under the Basic Education Laws Amendment (Bela), they could be jailed for up to 12 months if their children are truant, or if they are not enrolled when they reach school age.
Bela also introduced a ban on corporal punishment in all schools.
The DA says the bill disempowers schools, parents, and communities and fails to address one of the systemic challenges that impede quality education.
South Africa's parliament has passed a major education bill that could see parents face prison if their children are not in school.
Under the Basic Education Laws Amendment (Bela), they could be jailed for up to 12 months if their children are truant, or if they are not enrolled when they reach school age.
Bela also introduced a ban on corporal punishment in all schools.
The DA says the bill disempowers schools, parents, and communities and fails to address one of the systemic challenges that impede quality education.
South Africa's parliament has passed a major education bill that could see parents face prison if their children are not in school.
Under the Basic Education Laws Amendment (Bela), they could be jailed for up to 12 months if their children are truant, or if they are not enrolled when they reach school age.
Bela also introduced a ban on corporal punishment in all schools.
The DA says the bill disempowers schools, parents, and communities and fails to address one of the systemic challenges that impede quality education.
South Africa's parliament has passed a major education bill that could see parents face prison if their children are not in school.
Under the Basic Education Laws Amendment (Bela), they could be jailed for up to 12 months if their children are truant, or if they are not enrolled when they reach school age.
Bela also introduced a ban on corporal punishment in all schools.
The DA says the bill disempowers schools, parents, and communities and fails to address one of the systemic challenges that impede quality education.
South Africa's parliament has passed a major education bill that could see parents face prison if their children are not in school.
Under the Basic Education Laws Amendment (Bela), they could be jailed for up to 12 months if their children are truant, or if they are not enrolled when they reach school age.
Bela also introduced a ban on corporal punishment in all schools.
The DA says the bill disempowers schools, parents, and communities and fails to address one of the systemic challenges that impede quality education.
South Africa's parliament has passed a major education bill that could see parents face prison if their children are not in school.
Under the Basic Education Laws Amendment (Bela), they could be jailed for up to 12 months if their children are truant, or if they are not enrolled when they reach school age.
Bela also introduced a ban on corporal punishment in all schools.
The DA says the bill disempowers schools, parents, and communities and fails to address one of the systemic challenges that impede quality education.
President William Ruto says Kenya is to end visa requirements to all African visitors by the end of the year.
He says It is time they realise that having visa restrictions amongst ourselves is working against Africans.
Only Seychelles, The Gambia and Benin offer entry to all African citizens without a visa.
Africa's Visa Openness Index - which measures the extent to which each country in Africa is open to visitors from other African countries - most countries are making progress towards simplifying entry processes and dropping restrictions to some other nations.
President Ruto says that it was bad for business.
President William Ruto says Kenya is to end visa requirements to all African visitors by the end of the year.
He says It is time they realise that having visa restrictions amongst ourselves is working against Africans.
Only Seychelles, The Gambia and Benin offer entry to all African citizens without a visa.
Africa's Visa Openness Index - which measures the extent to which each country in Africa is open to visitors from other African countries - most countries are making progress towards simplifying entry processes and dropping restrictions to some other nations.
President Ruto says that it was bad for business.
President William Ruto says Kenya is to end visa requirements to all African visitors by the end of the year.
He says It is time they realise that having visa restrictions amongst ourselves is working against Africans.
Only Seychelles, The Gambia and Benin offer entry to all African citizens without a visa.
Africa's Visa Openness Index - which measures the extent to which each country in Africa is open to visitors from other African countries - most countries are making progress towards simplifying entry processes and dropping restrictions to some other nations.
President Ruto says that it was bad for business.
President William Ruto says Kenya is to end visa requirements to all African visitors by the end of the year.
He says It is time they realise that having visa restrictions amongst ourselves is working against Africans.
Only Seychelles, The Gambia and Benin offer entry to all African citizens without a visa.
Africa's Visa Openness Index - which measures the extent to which each country in Africa is open to visitors from other African countries - most countries are making progress towards simplifying entry processes and dropping restrictions to some other nations.
President Ruto says that it was bad for business.
President William Ruto says Kenya is to end visa requirements to all African visitors by the end of the year.
He says It is time they realise that having visa restrictions amongst ourselves is working against Africans.
Only Seychelles, The Gambia and Benin offer entry to all African citizens without a visa.
Africa's Visa Openness Index - which measures the extent to which each country in Africa is open to visitors from other African countries - most countries are making progress towards simplifying entry processes and dropping restrictions to some other nations.
President Ruto says that it was bad for business.
President William Ruto says Kenya is to end visa requirements to all African visitors by the end of the year.
He says It is time they realise that having visa restrictions amongst ourselves is working against Africans.
Only Seychelles, The Gambia and Benin offer entry to all African citizens without a visa.
Africa's Visa Openness Index - which measures the extent to which each country in Africa is open to visitors from other African countries - most countries are making progress towards simplifying entry processes and dropping restrictions to some other nations.
President Ruto says that it was bad for business.
German Chancellor Olaf Scholz says his country is willing to invest in gas and critical minerals in Nigeria, as he started a two-day visit to the West African country.
Mr Scholz says that the European country looked to diversify its trade partners and expand economic partnerships in the energy-rich region.
Mr Scholz is also pushing for cooperation with Nigeria to help tackle illegal migration from West Africa to Europe.
President Tinubu sought the support of Germany in tackling insecurity and also working to turn the economy of Nigeria around.
German Chancellor Olaf Scholz says his country is willing to invest in gas and critical minerals in Nigeria, as he started a two-day visit to the West African country.
Mr Scholz says that the European country looked to diversify its trade partners and expand economic partnerships in the energy-rich region.
Mr Scholz is also pushing for cooperation with Nigeria to help tackle illegal migration from West Africa to Europe.
President Tinubu sought the support of Germany in tackling insecurity and also working to turn the economy of Nigeria around.
German Chancellor Olaf Scholz says his country is willing to invest in gas and critical minerals in Nigeria, as he started a two-day visit to the West African country.
Mr Scholz says that the European country looked to diversify its trade partners and expand economic partnerships in the energy-rich region.
Mr Scholz is also pushing for cooperation with Nigeria to help tackle illegal migration from West Africa to Europe.
President Tinubu sought the support of Germany in tackling insecurity and also working to turn the economy of Nigeria around.
German Chancellor Olaf Scholz says his country is willing to invest in gas and critical minerals in Nigeria, as he started a two-day visit to the West African country.
Mr Scholz says that the European country looked to diversify its trade partners and expand economic partnerships in the energy-rich region.
Mr Scholz is also pushing for cooperation with Nigeria to help tackle illegal migration from West Africa to Europe.
President Tinubu sought the support of Germany in tackling insecurity and also working to turn the economy of Nigeria around.
German Chancellor Olaf Scholz says his country is willing to invest in gas and critical minerals in Nigeria, as he started a two-day visit to the West African country.
Mr Scholz says that the European country looked to diversify its trade partners and expand economic partnerships in the energy-rich region.
Mr Scholz is also pushing for cooperation with Nigeria to help tackle illegal migration from West Africa to Europe.
President Tinubu sought the support of Germany in tackling insecurity and also working to turn the economy of Nigeria around.
German Chancellor Olaf Scholz says his country is willing to invest in gas and critical minerals in Nigeria, as he started a two-day visit to the West African country.
Mr Scholz says that the European country looked to diversify its trade partners and expand economic partnerships in the energy-rich region.
Mr Scholz is also pushing for cooperation with Nigeria to help tackle illegal migration from West Africa to Europe.
President Tinubu sought the support of Germany in tackling insecurity and also working to turn the economy of Nigeria around.
Fidelity Bank, African Export-Import Bank and agribusiness firm, JohnVents Industries signed a $40m cocoa export deal at the Fidelity Bank International Trade and Creative Connect held in Houston, United States of America.
The loan would be provided by AFREXIM Bank with Fidelity Bank acting as the local administrative agent.
The Managing Director/Chief Executive Director, Fidelity Bank Plc, Mrs Nneka Onyeali-Ikpe, says the tripartite loan signing ceremony demonstrates the size of the opportunity in the Nigerian cocoa market and its potential to meet the demand of off-takers in the US.
Onyeali-Ikpe noted that the target for the expo was to close about $250m worth of deals.
Fidelity Bank, African Export-Import Bank and agribusiness firm, JohnVents Industries signed a $40m cocoa export deal at the Fidelity Bank International Trade and Creative Connect held in Houston, United States of America.
The loan would be provided by AFREXIM Bank with Fidelity Bank acting as the local administrative agent.
The Managing Director/Chief Executive Director, Fidelity Bank Plc, Mrs Nneka Onyeali-Ikpe, says the tripartite loan signing ceremony demonstrates the size of the opportunity in the Nigerian cocoa market and its potential to meet the demand of off-takers in the US.
Onyeali-Ikpe noted that the target for the expo was to close about $250m worth of deals.
Fidelity Bank, African Export-Import Bank and agribusiness firm, JohnVents Industries signed a $40m cocoa export deal at the Fidelity Bank International Trade and Creative Connect held in Houston, United States of America.
The loan would be provided by AFREXIM Bank with Fidelity Bank acting as the local administrative agent.
The Managing Director/Chief Executive Director, Fidelity Bank Plc, Mrs Nneka Onyeali-Ikpe, says the tripartite loan signing ceremony demonstrates the size of the opportunity in the Nigerian cocoa market and its potential to meet the demand of off-takers in the US.
Onyeali-Ikpe noted that the target for the expo was to close about $250m worth of deals.
Fidelity Bank, African Export-Import Bank and agribusiness firm, JohnVents Industries signed a $40m cocoa export deal at the Fidelity Bank International Trade and Creative Connect held in Houston, United States of America.
The loan would be provided by AFREXIM Bank with Fidelity Bank acting as the local administrative agent.
The Managing Director/Chief Executive Director, Fidelity Bank Plc, Mrs Nneka Onyeali-Ikpe, says the tripartite loan signing ceremony demonstrates the size of the opportunity in the Nigerian cocoa market and its potential to meet the demand of off-takers in the US.
Onyeali-Ikpe noted that the target for the expo was to close about $250m worth of deals.
Fidelity Bank, African Export-Import Bank and agribusiness firm, JohnVents Industries signed a $40m cocoa export deal at the Fidelity Bank International Trade and Creative Connect held in Houston, United States of America.
The loan would be provided by AFREXIM Bank with Fidelity Bank acting as the local administrative agent.
The Managing Director/Chief Executive Director, Fidelity Bank Plc, Mrs Nneka Onyeali-Ikpe, says the tripartite loan signing ceremony demonstrates the size of the opportunity in the Nigerian cocoa market and its potential to meet the demand of off-takers in the US.
Onyeali-Ikpe noted that the target for the expo was to close about $250m worth of deals.
Fidelity Bank, African Export-Import Bank and agribusiness firm, JohnVents Industries signed a $40m cocoa export deal at the Fidelity Bank International Trade and Creative Connect held in Houston, United States of America.
The loan would be provided by AFREXIM Bank with Fidelity Bank acting as the local administrative agent.
The Managing Director/Chief Executive Director, Fidelity Bank Plc, Mrs Nneka Onyeali-Ikpe, says the tripartite loan signing ceremony demonstrates the size of the opportunity in the Nigerian cocoa market and its potential to meet the demand of off-takers in the US.
Onyeali-Ikpe noted that the target for the expo was to close about $250m worth of deals.
The Minister of Works, Dave Umahi, says the government needs to import construction equipment worth €1.2m to effectively perform rehabilitation works on the Eko Bridge in Lagos State.
The minister says the deck on Eko Bridge would be opened for proper repair, hence the need to import the equipment.
Umahi says lack of maintenance culture from the national level was the root cause of the deflection on the bridge, while also pointing out problems on the Third Mainland Bridge which was built in two sections 60 years ago.
The Minister of Works, Dave Umahi, says the government needs to import construction equipment worth €1.2m to effectively perform rehabilitation works on the Eko Bridge in Lagos State.
The minister says the deck on Eko Bridge would be opened for proper repair, hence the need to import the equipment.
Umahi says lack of maintenance culture from the national level was the root cause of the deflection on the bridge, while also pointing out problems on the Third Mainland Bridge which was built in two sections 60 years ago.
The Minister of Works, Dave Umahi, says the government needs to import construction equipment worth €1.2m to effectively perform rehabilitation works on the Eko Bridge in Lagos State.
The minister says the deck on Eko Bridge would be opened for proper repair, hence the need to import the equipment.
Umahi says lack of maintenance culture from the national level was the root cause of the deflection on the bridge, while also pointing out problems on the Third Mainland Bridge which was built in two sections 60 years ago.
The Minister of Works, Dave Umahi, says the government needs to import construction equipment worth €1.2m to effectively perform rehabilitation works on the Eko Bridge in Lagos State.
The minister says the deck on Eko Bridge would be opened for proper repair, hence the need to import the equipment.
Umahi says lack of maintenance culture from the national level was the root cause of the deflection on the bridge, while also pointing out problems on the Third Mainland Bridge which was built in two sections 60 years ago.
The Minister of Works, Dave Umahi, says the government needs to import construction equipment worth €1.2m to effectively perform rehabilitation works on the Eko Bridge in Lagos State.
The minister says the deck on Eko Bridge would be opened for proper repair, hence the need to import the equipment.
Umahi says lack of maintenance culture from the national level was the root cause of the deflection on the bridge, while also pointing out problems on the Third Mainland Bridge which was built in two sections 60 years ago.
The Minister of Works, Dave Umahi, says the government needs to import construction equipment worth €1.2m to effectively perform rehabilitation works on the Eko Bridge in Lagos State.
The minister says the deck on Eko Bridge would be opened for proper repair, hence the need to import the equipment.
Umahi says lack of maintenance culture from the national level was the root cause of the deflection on the bridge, while also pointing out problems on the Third Mainland Bridge which was built in two sections 60 years ago.
Senator Ali Ndume has called on President Bola Tinubu to sign an executive order on unexplained wealth.
Ndume, who is the lawmaker representing Borno South under the ruling All Progressives Congress, made the remark in the wake of a comment by retired Supreme Court Justice Musa Muhammad Dattijo over the level of corruption in the country’s judiciary.
The lawmaker says he attempted to introduce some bills in that regard while saying there are laws in the UK and other parts of the world to tackle such issues.
Ndume, says the level of unexplained wealth in the country especially among politicians and civil servants requires some laws to combat.
Senator Ali Ndume has called on President Bola Tinubu to sign an executive order on unexplained wealth.
Ndume, who is the lawmaker representing Borno South under the ruling All Progressives Congress, made the remark in the wake of a comment by retired Supreme Court Justice Musa Muhammad Dattijo over the level of corruption in the country’s judiciary.
The lawmaker says he attempted to introduce some bills in that regard while saying there are laws in the UK and other parts of the world to tackle such issues.
Ndume, says the level of unexplained wealth in the country especially among politicians and civil servants requires some laws to combat.
Senator Ali Ndume has called on President Bola Tinubu to sign an executive order on unexplained wealth.
Ndume, who is the lawmaker representing Borno South under the ruling All Progressives Congress, made the remark in the wake of a comment by retired Supreme Court Justice Musa Muhammad Dattijo over the level of corruption in the country’s judiciary.
The lawmaker says he attempted to introduce some bills in that regard while saying there are laws in the UK and other parts of the world to tackle such issues.
Ndume, says the level of unexplained wealth in the country especially among politicians and civil servants requires some laws to combat.
Senator Ali Ndume has called on President Bola Tinubu to sign an executive order on unexplained wealth.
Ndume, who is the lawmaker representing Borno South under the ruling All Progressives Congress, made the remark in the wake of a comment by retired Supreme Court Justice Musa Muhammad Dattijo over the level of corruption in the country’s judiciary.
The lawmaker says he attempted to introduce some bills in that regard while saying there are laws in the UK and other parts of the world to tackle such issues.
Ndume, says the level of unexplained wealth in the country especially among politicians and civil servants requires some laws to combat.
Senator Ali Ndume has called on President Bola Tinubu to sign an executive order on unexplained wealth.
Ndume, who is the lawmaker representing Borno South under the ruling All Progressives Congress, made the remark in the wake of a comment by retired Supreme Court Justice Musa Muhammad Dattijo over the level of corruption in the country’s judiciary.
The lawmaker says he attempted to introduce some bills in that regard while saying there are laws in the UK and other parts of the world to tackle such issues.
Ndume, says the level of unexplained wealth in the country especially among politicians and civil servants requires some laws to combat.
Senator Ali Ndume has called on President Bola Tinubu to sign an executive order on unexplained wealth.
Ndume, who is the lawmaker representing Borno South under the ruling All Progressives Congress, made the remark in the wake of a comment by retired Supreme Court Justice Musa Muhammad Dattijo over the level of corruption in the country’s judiciary.
The lawmaker says he attempted to introduce some bills in that regard while saying there are laws in the UK and other parts of the world to tackle such issues.
Ndume, says the level of unexplained wealth in the country especially among politicians and civil servants requires some laws to combat.
Saudi Arabia has confirmed that negotiations have resumed in the city of Jeddah aimed at ending the conflict in Sudan.
The Saudi foreign ministry welcomed the resumption of talks between representatives of Sudan's army and the paramilitary Rapid Support Forces group.
It also urged them to adopt a ceasefire and protect civilians.
More than 9,000 people have been killed and more than 5.5 million displaced since fighting broke out in April.
Saudi Arabia has confirmed that negotiations have resumed in the city of Jeddah aimed at ending the conflict in Sudan.
The Saudi foreign ministry welcomed the resumption of talks between representatives of Sudan's army and the paramilitary Rapid Support Forces group.
It also urged them to adopt a ceasefire and protect civilians.
More than 9,000 people have been killed and more than 5.5 million displaced since fighting broke out in April.
Saudi Arabia has confirmed that negotiations have resumed in the city of Jeddah aimed at ending the conflict in Sudan.
The Saudi foreign ministry welcomed the resumption of talks between representatives of Sudan's army and the paramilitary Rapid Support Forces group.
It also urged them to adopt a ceasefire and protect civilians.
More than 9,000 people have been killed and more than 5.5 million displaced since fighting broke out in April.
Saudi Arabia has confirmed that negotiations have resumed in the city of Jeddah aimed at ending the conflict in Sudan.
The Saudi foreign ministry welcomed the resumption of talks between representatives of Sudan's army and the paramilitary Rapid Support Forces group.
It also urged them to adopt a ceasefire and protect civilians.
More than 9,000 people have been killed and more than 5.5 million displaced since fighting broke out in April.
Saudi Arabia has confirmed that negotiations have resumed in the city of Jeddah aimed at ending the conflict in Sudan.
The Saudi foreign ministry welcomed the resumption of talks between representatives of Sudan's army and the paramilitary Rapid Support Forces group.
It also urged them to adopt a ceasefire and protect civilians.
More than 9,000 people have been killed and more than 5.5 million displaced since fighting broke out in April.
Saudi Arabia has confirmed that negotiations have resumed in the city of Jeddah aimed at ending the conflict in Sudan.
The Saudi foreign ministry welcomed the resumption of talks between representatives of Sudan's army and the paramilitary Rapid Support Forces group.
It also urged them to adopt a ceasefire and protect civilians.
More than 9,000 people have been killed and more than 5.5 million displaced since fighting broke out in April.
UN aid agencies say they have begun to significantly reduce their operations in the Gaza Strip because they have almost exhausted their fuel reserves.
Small quantities of fuel retrieved from existing reserves are being used to maintain the water supply in the south, where hundreds of thousands of people are sheltering from Israeli strikes.
The agencies say they have reduced their support for overwhelmed hospitals and bakeries feeding the displaced.
Juliette Touma of the UN agency for Palestinian refugees, Unrwa, says two million people are being strangled.
UN aid agencies say they have begun to significantly reduce their operations in the Gaza Strip because they have almost exhausted their fuel reserves.
Small quantities of fuel retrieved from existing reserves are being used to maintain the water supply in the south, where hundreds of thousands of people are sheltering from Israeli strikes.
The agencies say they have reduced their support for overwhelmed hospitals and bakeries feeding the displaced.
Juliette Touma of the UN agency for Palestinian refugees, Unrwa, says two million people are being strangled.
UN aid agencies say they have begun to significantly reduce their operations in the Gaza Strip because they have almost exhausted their fuel reserves.
Small quantities of fuel retrieved from existing reserves are being used to maintain the water supply in the south, where hundreds of thousands of people are sheltering from Israeli strikes.
The agencies say they have reduced their support for overwhelmed hospitals and bakeries feeding the displaced.
Juliette Touma of the UN agency for Palestinian refugees, Unrwa, says two million people are being strangled.
UN aid agencies say they have begun to significantly reduce their operations in the Gaza Strip because they have almost exhausted their fuel reserves.
Small quantities of fuel retrieved from existing reserves are being used to maintain the water supply in the south, where hundreds of thousands of people are sheltering from Israeli strikes.
The agencies say they have reduced their support for overwhelmed hospitals and bakeries feeding the displaced.
Juliette Touma of the UN agency for Palestinian refugees, Unrwa, says two million people are being strangled.
UN aid agencies say they have begun to significantly reduce their operations in the Gaza Strip because they have almost exhausted their fuel reserves.
Small quantities of fuel retrieved from existing reserves are being used to maintain the water supply in the south, where hundreds of thousands of people are sheltering from Israeli strikes.
The agencies say they have reduced their support for overwhelmed hospitals and bakeries feeding the displaced.
Juliette Touma of the UN agency for Palestinian refugees, Unrwa, says two million people are being strangled.
UN aid agencies say they have begun to significantly reduce their operations in the Gaza Strip because they have almost exhausted their fuel reserves.
Small quantities of fuel retrieved from existing reserves are being used to maintain the water supply in the south, where hundreds of thousands of people are sheltering from Israeli strikes.
The agencies say they have reduced their support for overwhelmed hospitals and bakeries feeding the displaced.
Juliette Touma of the UN agency for Palestinian refugees, Unrwa, says two million people are being strangled.
Leaders of countries that are home to the world's major tropical rainforests are meeting in Brazzaville, the capital of the Republic of the Congo, for what is known as the Three Basins Summit.
The leaders represent African, South American and South-East Asian nations and they say they are aiming to restore about 3.5m sq km of rainforest across the Amazon, Congo and Mekong basins.
These regions account for 80% of the world’s tropical rainforests, which play a key role in absorbing carbon emissions.
Leaders of countries that are home to the world's major tropical rainforests are meeting in Brazzaville, the capital of the Republic of the Congo, for what is known as the Three Basins Summit.
The leaders represent African, South American and South-East Asian nations and they say they are aiming to restore about 3.5m sq km of rainforest across the Amazon, Congo and Mekong basins.
These regions account for 80% of the world’s tropical rainforests, which play a key role in absorbing carbon emissions.
Leaders of countries that are home to the world's major tropical rainforests are meeting in Brazzaville, the capital of the Republic of the Congo, for what is known as the Three Basins Summit.
The leaders represent African, South American and South-East Asian nations and they say they are aiming to restore about 3.5m sq km of rainforest across the Amazon, Congo and Mekong basins.
These regions account for 80% of the world’s tropical rainforests, which play a key role in absorbing carbon emissions.
Leaders of countries that are home to the world's major tropical rainforests are meeting in Brazzaville, the capital of the Republic of the Congo, for what is known as the Three Basins Summit.
The leaders represent African, South American and South-East Asian nations and they say they are aiming to restore about 3.5m sq km of rainforest across the Amazon, Congo and Mekong basins.
These regions account for 80% of the world’s tropical rainforests, which play a key role in absorbing carbon emissions.
Leaders of countries that are home to the world's major tropical rainforests are meeting in Brazzaville, the capital of the Republic of the Congo, for what is known as the Three Basins Summit.
The leaders represent African, South American and South-East Asian nations and they say they are aiming to restore about 3.5m sq km of rainforest across the Amazon, Congo and Mekong basins.
These regions account for 80% of the world’s tropical rainforests, which play a key role in absorbing carbon emissions.
Leaders of countries that are home to the world's major tropical rainforests are meeting in Brazzaville, the capital of the Republic of the Congo, for what is known as the Three Basins Summit.
The leaders represent African, South American and South-East Asian nations and they say they are aiming to restore about 3.5m sq km of rainforest across the Amazon, Congo and Mekong basins.
These regions account for 80% of the world’s tropical rainforests, which play a key role in absorbing carbon emissions.
Iran's President Ebrahim Raisi says that his country is ready to cooperate with Niger in economically beneficial areas.
President Raisi praised Niger's desire for independence and resistance against the European hegemonic policies which he said signalled Africa’s real transition from colonialism.
President Raisi met the foreign minister of Burkina Faso’s junta Olivia Rouamba, Kenya, Uganda and Zimbabwe.
Iran's President Ebrahim Raisi says that his country is ready to cooperate with Niger in economically beneficial areas.
President Raisi praised Niger's desire for independence and resistance against the European hegemonic policies which he said signalled Africa’s real transition from colonialism.
President Raisi met the foreign minister of Burkina Faso’s junta Olivia Rouamba, Kenya, Uganda and Zimbabwe.
Iran's President Ebrahim Raisi says that his country is ready to cooperate with Niger in economically beneficial areas.
President Raisi praised Niger's desire for independence and resistance against the European hegemonic policies which he said signalled Africa’s real transition from colonialism.
President Raisi met the foreign minister of Burkina Faso’s junta Olivia Rouamba, Kenya, Uganda and Zimbabwe.
Iran's President Ebrahim Raisi says that his country is ready to cooperate with Niger in economically beneficial areas.
President Raisi praised Niger's desire for independence and resistance against the European hegemonic policies which he said signalled Africa’s real transition from colonialism.
President Raisi met the foreign minister of Burkina Faso’s junta Olivia Rouamba, Kenya, Uganda and Zimbabwe.
Iran's President Ebrahim Raisi says that his country is ready to cooperate with Niger in economically beneficial areas.
President Raisi praised Niger's desire for independence and resistance against the European hegemonic policies which he said signalled Africa’s real transition from colonialism.
President Raisi met the foreign minister of Burkina Faso’s junta Olivia Rouamba, Kenya, Uganda and Zimbabwe.
Iran's President Ebrahim Raisi says that his country is ready to cooperate with Niger in economically beneficial areas.
President Raisi praised Niger's desire for independence and resistance against the European hegemonic policies which he said signalled Africa’s real transition from colonialism.
President Raisi met the foreign minister of Burkina Faso’s junta Olivia Rouamba, Kenya, Uganda and Zimbabwe.
The Federal Government in collaboration with other members of the Economic Community of West African States are planning to set up the Africa Energy Bank to cater to crude oil exploration activities in the region.
Outgoing President, of the Nigerian Association of Petroleum Explorationists, Elliot Ibie, says the energy bank would be funded by ECOWAS members and other banks, of which he did not mention their names, to boost oil and gas production in the region.
He says the Federal Government and investors are truly worried about the dwindling crude oil production in the country, and that is why ECOWAS is now planning to boost production through the energy bank that is currently being set up.
The Federal Government in collaboration with other members of the Economic Community of West African States are planning to set up the Africa Energy Bank to cater to crude oil exploration activities in the region.
Outgoing President, of the Nigerian Association of Petroleum Explorationists, Elliot Ibie, says the energy bank would be funded by ECOWAS members and other banks, of which he did not mention their names, to boost oil and gas production in the region.
He says the Federal Government and investors are truly worried about the dwindling crude oil production in the country, and that is why ECOWAS is now planning to boost production through the energy bank that is currently being set up.
The Federal Government in collaboration with other members of the Economic Community of West African States are planning to set up the Africa Energy Bank to cater to crude oil exploration activities in the region.
Outgoing President, of the Nigerian Association of Petroleum Explorationists, Elliot Ibie, says the energy bank would be funded by ECOWAS members and other banks, of which he did not mention their names, to boost oil and gas production in the region.
He says the Federal Government and investors are truly worried about the dwindling crude oil production in the country, and that is why ECOWAS is now planning to boost production through the energy bank that is currently being set up.
The Federal Government in collaboration with other members of the Economic Community of West African States are planning to set up the Africa Energy Bank to cater to crude oil exploration activities in the region.
Outgoing President, of the Nigerian Association of Petroleum Explorationists, Elliot Ibie, says the energy bank would be funded by ECOWAS members and other banks, of which he did not mention their names, to boost oil and gas production in the region.
He says the Federal Government and investors are truly worried about the dwindling crude oil production in the country, and that is why ECOWAS is now planning to boost production through the energy bank that is currently being set up.
The Federal Government in collaboration with other members of the Economic Community of West African States are planning to set up the Africa Energy Bank to cater to crude oil exploration activities in the region.
Outgoing President, of the Nigerian Association of Petroleum Explorationists, Elliot Ibie, says the energy bank would be funded by ECOWAS members and other banks, of which he did not mention their names, to boost oil and gas production in the region.
He says the Federal Government and investors are truly worried about the dwindling crude oil production in the country, and that is why ECOWAS is now planning to boost production through the energy bank that is currently being set up.
The Federal Government in collaboration with other members of the Economic Community of West African States are planning to set up the Africa Energy Bank to cater to crude oil exploration activities in the region.
Outgoing President, of the Nigerian Association of Petroleum Explorationists, Elliot Ibie, says the energy bank would be funded by ECOWAS members and other banks, of which he did not mention their names, to boost oil and gas production in the region.
He says the Federal Government and investors are truly worried about the dwindling crude oil production in the country, and that is why ECOWAS is now planning to boost production through the energy bank that is currently being set up.
The Head of the Mansa Digital Initiative at the African Export and Import Bank, Maureen Mba, says that Africa contributes only 3 per cent to the totality of global trade.
Mba explained that the rationale behind the Mansa Digital Initiative and says there was an urgent need to promote trade across the African continent.
The president of the Lagos Chamber of Commerce and Industry, Michael Olawale-Cole emphasised the need for the government to support SMEs due to their strategic importance to the national economy.
He noted that Nigeria’s small and medium-sized enterprises have long been the backbone of the economy, contributing significantly to economic growth, job creation, and poverty reduction.
The Head of the Mansa Digital Initiative at the African Export and Import Bank, Maureen Mba, says that Africa contributes only 3 per cent to the totality of global trade.
Mba explained that the rationale behind the Mansa Digital Initiative and says there was an urgent need to promote trade across the African continent.
The president of the Lagos Chamber of Commerce and Industry, Michael Olawale-Cole emphasised the need for the government to support SMEs due to their strategic importance to the national economy.
He noted that Nigeria’s small and medium-sized enterprises have long been the backbone of the economy, contributing significantly to economic growth, job creation, and poverty reduction.
The Head of the Mansa Digital Initiative at the African Export and Import Bank, Maureen Mba, says that Africa contributes only 3 per cent to the totality of global trade.
Mba explained that the rationale behind the Mansa Digital Initiative and says there was an urgent need to promote trade across the African continent.
The president of the Lagos Chamber of Commerce and Industry, Michael Olawale-Cole emphasised the need for the government to support SMEs due to their strategic importance to the national economy.
He noted that Nigeria’s small and medium-sized enterprises have long been the backbone of the economy, contributing significantly to economic growth, job creation, and poverty reduction.
The Head of the Mansa Digital Initiative at the African Export and Import Bank, Maureen Mba, says that Africa contributes only 3 per cent to the totality of global trade.
Mba explained that the rationale behind the Mansa Digital Initiative and says there was an urgent need to promote trade across the African continent.
The president of the Lagos Chamber of Commerce and Industry, Michael Olawale-Cole emphasised the need for the government to support SMEs due to their strategic importance to the national economy.
He noted that Nigeria’s small and medium-sized enterprises have long been the backbone of the economy, contributing significantly to economic growth, job creation, and poverty reduction.
The Head of the Mansa Digital Initiative at the African Export and Import Bank, Maureen Mba, says that Africa contributes only 3 per cent to the totality of global trade.
Mba explained that the rationale behind the Mansa Digital Initiative and says there was an urgent need to promote trade across the African continent.
The president of the Lagos Chamber of Commerce and Industry, Michael Olawale-Cole emphasised the need for the government to support SMEs due to their strategic importance to the national economy.
He noted that Nigeria’s small and medium-sized enterprises have long been the backbone of the economy, contributing significantly to economic growth, job creation, and poverty reduction.
The Head of the Mansa Digital Initiative at the African Export and Import Bank, Maureen Mba, says that Africa contributes only 3 per cent to the totality of global trade.
Mba explained that the rationale behind the Mansa Digital Initiative and says there was an urgent need to promote trade across the African continent.
The president of the Lagos Chamber of Commerce and Industry, Michael Olawale-Cole emphasised the need for the government to support SMEs due to their strategic importance to the national economy.
He noted that Nigeria’s small and medium-sized enterprises have long been the backbone of the economy, contributing significantly to economic growth, job creation, and poverty reduction.
Stears has announced that Nigeria’s inflation rate may rise to 30 per cent by December 2023.
The data Provider projected that Nigeria’s annual inflation rate is set to climb steadily until year-end, culminating at around 30 per cent, a level not attained since the country’s modern democratic era.
The firm stated that its forecasts are based on trusted econometric tools that consider a myriad of factors driving inflation, from general to country-specific dynamics.
Stears’ Head of Insights, Fadekemi Abiru, says the exchange rate premium is expected to keep widening and exert further inflationary pressures unless there is significant dollar inflows into the economy.
Stears has announced that Nigeria’s inflation rate may rise to 30 per cent by December 2023.
The data Provider projected that Nigeria’s annual inflation rate is set to climb steadily until year-end, culminating at around 30 per cent, a level not attained since the country’s modern democratic era.
The firm stated that its forecasts are based on trusted econometric tools that consider a myriad of factors driving inflation, from general to country-specific dynamics.
Stears’ Head of Insights, Fadekemi Abiru, says the exchange rate premium is expected to keep widening and exert further inflationary pressures unless there is significant dollar inflows into the economy.
Stears has announced that Nigeria’s inflation rate may rise to 30 per cent by December 2023.
The data Provider projected that Nigeria’s annual inflation rate is set to climb steadily until year-end, culminating at around 30 per cent, a level not attained since the country’s modern democratic era.
The firm stated that its forecasts are based on trusted econometric tools that consider a myriad of factors driving inflation, from general to country-specific dynamics.
Stears’ Head of Insights, Fadekemi Abiru, says the exchange rate premium is expected to keep widening and exert further inflationary pressures unless there is significant dollar inflows into the economy.
Stears has announced that Nigeria’s inflation rate may rise to 30 per cent by December 2023.
The data Provider projected that Nigeria’s annual inflation rate is set to climb steadily until year-end, culminating at around 30 per cent, a level not attained since the country’s modern democratic era.
The firm stated that its forecasts are based on trusted econometric tools that consider a myriad of factors driving inflation, from general to country-specific dynamics.
Stears’ Head of Insights, Fadekemi Abiru, says the exchange rate premium is expected to keep widening and exert further inflationary pressures unless there is significant dollar inflows into the economy.
Stears has announced that Nigeria’s inflation rate may rise to 30 per cent by December 2023.
The data Provider projected that Nigeria’s annual inflation rate is set to climb steadily until year-end, culminating at around 30 per cent, a level not attained since the country’s modern democratic era.
The firm stated that its forecasts are based on trusted econometric tools that consider a myriad of factors driving inflation, from general to country-specific dynamics.
Stears’ Head of Insights, Fadekemi Abiru, says the exchange rate premium is expected to keep widening and exert further inflationary pressures unless there is significant dollar inflows into the economy.
Stears has announced that Nigeria’s inflation rate may rise to 30 per cent by December 2023.
The data Provider projected that Nigeria’s annual inflation rate is set to climb steadily until year-end, culminating at around 30 per cent, a level not attained since the country’s modern democratic era.
The firm stated that its forecasts are based on trusted econometric tools that consider a myriad of factors driving inflation, from general to country-specific dynamics.
Stears’ Head of Insights, Fadekemi Abiru, says the exchange rate premium is expected to keep widening and exert further inflationary pressures unless there is significant dollar inflows into the economy.
The Supreme Court upheld the victory of President Bola Tinubu in the February 25, 2023 presidential election.
The apex court, in its ruling, dismissed the appeals by the presidential candidate of the People's Democratic Party, Atiku Abubakar; and his Labour Party counterpart, Peter Obi.
A seven-judge panel ruled as without merit the opposition appeals over claims of fraud, electoral law violations, and Tinubu’s ineligibility to run for president.
The apex court thrashed all the grounds of appeal of Atiku and the PDP on qualification, non-compliance with the Electoral Act, the 25% votes in FCT, and electoral malpractices.
The Supreme Court upheld the victory of President Bola Tinubu in the February 25, 2023 presidential election.
The apex court, in its ruling, dismissed the appeals by the presidential candidate of the People's Democratic Party, Atiku Abubakar; and his Labour Party counterpart, Peter Obi.
A seven-judge panel ruled as without merit the opposition appeals over claims of fraud, electoral law violations, and Tinubu’s ineligibility to run for president.
The apex court thrashed all the grounds of appeal of Atiku and the PDP on qualification, non-compliance with the Electoral Act, the 25% votes in FCT, and electoral malpractices.
The Supreme Court upheld the victory of President Bola Tinubu in the February 25, 2023 presidential election.
The apex court, in its ruling, dismissed the appeals by the presidential candidate of the People's Democratic Party, Atiku Abubakar; and his Labour Party counterpart, Peter Obi.
A seven-judge panel ruled as without merit the opposition appeals over claims of fraud, electoral law violations, and Tinubu’s ineligibility to run for president.
The apex court thrashed all the grounds of appeal of Atiku and the PDP on qualification, non-compliance with the Electoral Act, the 25% votes in FCT, and electoral malpractices.
The Supreme Court upheld the victory of President Bola Tinubu in the February 25, 2023 presidential election.
The apex court, in its ruling, dismissed the appeals by the presidential candidate of the People's Democratic Party, Atiku Abubakar; and his Labour Party counterpart, Peter Obi.
A seven-judge panel ruled as without merit the opposition appeals over claims of fraud, electoral law violations, and Tinubu’s ineligibility to run for president.
The apex court thrashed all the grounds of appeal of Atiku and the PDP on qualification, non-compliance with the Electoral Act, the 25% votes in FCT, and electoral malpractices.
The Supreme Court upheld the victory of President Bola Tinubu in the February 25, 2023 presidential election.
The apex court, in its ruling, dismissed the appeals by the presidential candidate of the People's Democratic Party, Atiku Abubakar; and his Labour Party counterpart, Peter Obi.
A seven-judge panel ruled as without merit the opposition appeals over claims of fraud, electoral law violations, and Tinubu’s ineligibility to run for president.
The apex court thrashed all the grounds of appeal of Atiku and the PDP on qualification, non-compliance with the Electoral Act, the 25% votes in FCT, and electoral malpractices.
The Supreme Court upheld the victory of President Bola Tinubu in the February 25, 2023 presidential election.
The apex court, in its ruling, dismissed the appeals by the presidential candidate of the People's Democratic Party, Atiku Abubakar; and his Labour Party counterpart, Peter Obi.
A seven-judge panel ruled as without merit the opposition appeals over claims of fraud, electoral law violations, and Tinubu’s ineligibility to run for president.
The apex court thrashed all the grounds of appeal of Atiku and the PDP on qualification, non-compliance with the Electoral Act, the 25% votes in FCT, and electoral malpractices.
China and the Philippines have traded blame over two collisions in the South China Sea involving their vessels, the latest in a series of maritime confrontations in the disputed waterway.
China’s coastguard says there had been a slight collision between one of its ships and a Philippine vessel carrying supplies to a World War II-era transport ship that was being used as an outpost on the shoal.
The coastguard says the collision occurred while it was lawfully blocking the boat from transporting illegal construction materials to the warship.
Manila says it condemned in the strongest degree the dangerous blocking manoeuvres of the Chinese vessel.
China and the Philippines have traded blame over two collisions in the South China Sea involving their vessels, the latest in a series of maritime confrontations in the disputed waterway.
China’s coastguard says there had been a slight collision between one of its ships and a Philippine vessel carrying supplies to a World War II-era transport ship that was being used as an outpost on the shoal.
The coastguard says the collision occurred while it was lawfully blocking the boat from transporting illegal construction materials to the warship.
Manila says it condemned in the strongest degree the dangerous blocking manoeuvres of the Chinese vessel.
China and the Philippines have traded blame over two collisions in the South China Sea involving their vessels, the latest in a series of maritime confrontations in the disputed waterway.
China’s coastguard says there had been a slight collision between one of its ships and a Philippine vessel carrying supplies to a World War II-era transport ship that was being used as an outpost on the shoal.
The coastguard says the collision occurred while it was lawfully blocking the boat from transporting illegal construction materials to the warship.
Manila says it condemned in the strongest degree the dangerous blocking manoeuvres of the Chinese vessel.
China and the Philippines have traded blame over two collisions in the South China Sea involving their vessels, the latest in a series of maritime confrontations in the disputed waterway.
China’s coastguard says there had been a slight collision between one of its ships and a Philippine vessel carrying supplies to a World War II-era transport ship that was being used as an outpost on the shoal.
The coastguard says the collision occurred while it was lawfully blocking the boat from transporting illegal construction materials to the warship.
Manila says it condemned in the strongest degree the dangerous blocking manoeuvres of the Chinese vessel.
China and the Philippines have traded blame over two collisions in the South China Sea involving their vessels, the latest in a series of maritime confrontations in the disputed waterway.
China’s coastguard says there had been a slight collision between one of its ships and a Philippine vessel carrying supplies to a World War II-era transport ship that was being used as an outpost on the shoal.
The coastguard says the collision occurred while it was lawfully blocking the boat from transporting illegal construction materials to the warship.
Manila says it condemned in the strongest degree the dangerous blocking manoeuvres of the Chinese vessel.
China and the Philippines have traded blame over two collisions in the South China Sea involving their vessels, the latest in a series of maritime confrontations in the disputed waterway.
China’s coastguard says there had been a slight collision between one of its ships and a Philippine vessel carrying supplies to a World War II-era transport ship that was being used as an outpost on the shoal.
The coastguard says the collision occurred while it was lawfully blocking the boat from transporting illegal construction materials to the warship.
Manila says it condemned in the strongest degree the dangerous blocking manoeuvres of the Chinese vessel.
China has launched an investigation into Taiwan-based iPhone maker Foxconn.
The Global Times, citing anonymous sources, says officials conducted tax inspections at Foxconn businesses in two Chinese provinces.
Foxconn says it will cooperate with the investigation. The company is the biggest maker of iPhones for US tech giant Apple and is one of the largest employers in the world.
The Global Times also said China's natural resources department made on-site investigations into land use by key Foxconn businesses in the provinces of Henan and Hubei.
China has launched an investigation into Taiwan-based iPhone maker Foxconn.
The Global Times, citing anonymous sources, says officials conducted tax inspections at Foxconn businesses in two Chinese provinces.
Foxconn says it will cooperate with the investigation. The company is the biggest maker of iPhones for US tech giant Apple and is one of the largest employers in the world.
The Global Times also said China's natural resources department made on-site investigations into land use by key Foxconn businesses in the provinces of Henan and Hubei.
China has launched an investigation into Taiwan-based iPhone maker Foxconn.
The Global Times, citing anonymous sources, says officials conducted tax inspections at Foxconn businesses in two Chinese provinces.
Foxconn says it will cooperate with the investigation. The company is the biggest maker of iPhones for US tech giant Apple and is one of the largest employers in the world.
The Global Times also said China's natural resources department made on-site investigations into land use by key Foxconn businesses in the provinces of Henan and Hubei.
China has launched an investigation into Taiwan-based iPhone maker Foxconn.
The Global Times, citing anonymous sources, says officials conducted tax inspections at Foxconn businesses in two Chinese provinces.
Foxconn says it will cooperate with the investigation. The company is the biggest maker of iPhones for US tech giant Apple and is one of the largest employers in the world.
The Global Times also said China's natural resources department made on-site investigations into land use by key Foxconn businesses in the provinces of Henan and Hubei.
China has launched an investigation into Taiwan-based iPhone maker Foxconn.
The Global Times, citing anonymous sources, says officials conducted tax inspections at Foxconn businesses in two Chinese provinces.
Foxconn says it will cooperate with the investigation. The company is the biggest maker of iPhones for US tech giant Apple and is one of the largest employers in the world.
The Global Times also said China's natural resources department made on-site investigations into land use by key Foxconn businesses in the provinces of Henan and Hubei.
China has launched an investigation into Taiwan-based iPhone maker Foxconn.
The Global Times, citing anonymous sources, says officials conducted tax inspections at Foxconn businesses in two Chinese provinces.
Foxconn says it will cooperate with the investigation. The company is the biggest maker of iPhones for US tech giant Apple and is one of the largest employers in the world.
The Global Times also said China's natural resources department made on-site investigations into land use by key Foxconn businesses in the provinces of Henan and Hubei.
Tanzania has signed a 30-year port management agreement with the United Arab Emirates, despite opposition to the deal.
Under the agreement, the Dubai Port World will run four berths at the Dar es Salaam port, Tanzania’s largest port.
The Emirati firm and the Tanzania Ports Authority will also collaborate in managing three other berths at the port.
The partnership includes an investment of $250m by DP World to upgrade infrastructure at the port over the next five years.
The deal has drawn criticism from several activists, citizens and opposition politicians, who say that it favours the Emirati company at Tanzania’s expense.
Tanzanian authorities say the deal does not involve all port operations in the country and that they retain the right to withdraw from the contracts at any time if necessary.
Tanzania has signed a 30-year port management agreement with the United Arab Emirates, despite opposition to the deal.
Under the agreement, the Dubai Port World will run four berths at the Dar es Salaam port, Tanzania’s largest port.
The Emirati firm and the Tanzania Ports Authority will also collaborate in managing three other berths at the port.
The partnership includes an investment of $250m by DP World to upgrade infrastructure at the port over the next five years.
The deal has drawn criticism from several activists, citizens and opposition politicians, who say that it favours the Emirati company at Tanzania’s expense.
Tanzanian authorities say the deal does not involve all port operations in the country and that they retain the right to withdraw from the contracts at any time if necessary.
Tanzania has signed a 30-year port management agreement with the United Arab Emirates, despite opposition to the deal.
Under the agreement, the Dubai Port World will run four berths at the Dar es Salaam port, Tanzania’s largest port.
The Emirati firm and the Tanzania Ports Authority will also collaborate in managing three other berths at the port.
The partnership includes an investment of $250m by DP World to upgrade infrastructure at the port over the next five years.
The deal has drawn criticism from several activists, citizens and opposition politicians, who say that it favours the Emirati company at Tanzania’s expense.
Tanzanian authorities say the deal does not involve all port operations in the country and that they retain the right to withdraw from the contracts at any time if necessary.
Tanzania has signed a 30-year port management agreement with the United Arab Emirates, despite opposition to the deal.
Under the agreement, the Dubai Port World will run four berths at the Dar es Salaam port, Tanzania’s largest port.
The Emirati firm and the Tanzania Ports Authority will also collaborate in managing three other berths at the port.
The partnership includes an investment of $250m by DP World to upgrade infrastructure at the port over the next five years.
The deal has drawn criticism from several activists, citizens and opposition politicians, who say that it favours the Emirati company at Tanzania’s expense.
Tanzanian authorities say the deal does not involve all port operations in the country and that they retain the right to withdraw from the contracts at any time if necessary.
Tanzania has signed a 30-year port management agreement with the United Arab Emirates, despite opposition to the deal.
Under the agreement, the Dubai Port World will run four berths at the Dar es Salaam port, Tanzania’s largest port.
The Emirati firm and the Tanzania Ports Authority will also collaborate in managing three other berths at the port.
The partnership includes an investment of $250m by DP World to upgrade infrastructure at the port over the next five years.
The deal has drawn criticism from several activists, citizens and opposition politicians, who say that it favours the Emirati company at Tanzania’s expense.
Tanzanian authorities say the deal does not involve all port operations in the country and that they retain the right to withdraw from the contracts at any time if necessary.
Tanzania has signed a 30-year port management agreement with the United Arab Emirates, despite opposition to the deal.
Under the agreement, the Dubai Port World will run four berths at the Dar es Salaam port, Tanzania’s largest port.
The Emirati firm and the Tanzania Ports Authority will also collaborate in managing three other berths at the port.
The partnership includes an investment of $250m by DP World to upgrade infrastructure at the port over the next five years.
The deal has drawn criticism from several activists, citizens and opposition politicians, who say that it favours the Emirati company at Tanzania’s expense.
Tanzanian authorities say the deal does not involve all port operations in the country and that they retain the right to withdraw from the contracts at any time if necessary.
The South African Department of Tourism has published a new whitepaper that proposes new regulations for Airbnb and other home-sharing apps.
The Department of Tourism in April 2019, unveiled its plans to regulate Airbnb and similar home-sharing apps through the Tourism Amendment Bill.
This bill aims to grant the tourism minister the authority to set specific thresholds for South African Airbnbs.
The South African government has argued that platforms like Airbnb could lead to a surplus of unregistered properties on the accommodation market, resulting in the value of formal accommodation providers, such as hotels and guesthouses declining.
Michele de Souza, chair of the Pietermaritzburg Bed and Breakfast Network, is advocating for specific regulations that Airbnb hosts should follow.
De Souza also called for Airbnb to pay taxes and adhere to business regulations like traditional businesses.
The South African Department of Tourism has published a new whitepaper that proposes new regulations for Airbnb and other home-sharing apps.
The Department of Tourism in April 2019, unveiled its plans to regulate Airbnb and similar home-sharing apps through the Tourism Amendment Bill.
This bill aims to grant the tourism minister the authority to set specific thresholds for South African Airbnbs.
The South African government has argued that platforms like Airbnb could lead to a surplus of unregistered properties on the accommodation market, resulting in the value of formal accommodation providers, such as hotels and guesthouses declining.
Michele de Souza, chair of the Pietermaritzburg Bed and Breakfast Network, is advocating for specific regulations that Airbnb hosts should follow.
De Souza also called for Airbnb to pay taxes and adhere to business regulations like traditional businesses.
The South African Department of Tourism has published a new whitepaper that proposes new regulations for Airbnb and other home-sharing apps.
The Department of Tourism in April 2019, unveiled its plans to regulate Airbnb and similar home-sharing apps through the Tourism Amendment Bill.
This bill aims to grant the tourism minister the authority to set specific thresholds for South African Airbnbs.
The South African government has argued that platforms like Airbnb could lead to a surplus of unregistered properties on the accommodation market, resulting in the value of formal accommodation providers, such as hotels and guesthouses declining.
Michele de Souza, chair of the Pietermaritzburg Bed and Breakfast Network, is advocating for specific regulations that Airbnb hosts should follow.
De Souza also called for Airbnb to pay taxes and adhere to business regulations like traditional businesses.
The South African Department of Tourism has published a new whitepaper that proposes new regulations for Airbnb and other home-sharing apps.
The Department of Tourism in April 2019, unveiled its plans to regulate Airbnb and similar home-sharing apps through the Tourism Amendment Bill.
This bill aims to grant the tourism minister the authority to set specific thresholds for South African Airbnbs.
The South African government has argued that platforms like Airbnb could lead to a surplus of unregistered properties on the accommodation market, resulting in the value of formal accommodation providers, such as hotels and guesthouses declining.
Michele de Souza, chair of the Pietermaritzburg Bed and Breakfast Network, is advocating for specific regulations that Airbnb hosts should follow.
De Souza also called for Airbnb to pay taxes and adhere to business regulations like traditional businesses.
The South African Department of Tourism has published a new whitepaper that proposes new regulations for Airbnb and other home-sharing apps.
The Department of Tourism in April 2019, unveiled its plans to regulate Airbnb and similar home-sharing apps through the Tourism Amendment Bill.
This bill aims to grant the tourism minister the authority to set specific thresholds for South African Airbnbs.
The South African government has argued that platforms like Airbnb could lead to a surplus of unregistered properties on the accommodation market, resulting in the value of formal accommodation providers, such as hotels and guesthouses declining.
Michele de Souza, chair of the Pietermaritzburg Bed and Breakfast Network, is advocating for specific regulations that Airbnb hosts should follow.
De Souza also called for Airbnb to pay taxes and adhere to business regulations like traditional businesses.
The South African Department of Tourism has published a new whitepaper that proposes new regulations for Airbnb and other home-sharing apps.
The Department of Tourism in April 2019, unveiled its plans to regulate Airbnb and similar home-sharing apps through the Tourism Amendment Bill.
This bill aims to grant the tourism minister the authority to set specific thresholds for South African Airbnbs.
The South African government has argued that platforms like Airbnb could lead to a surplus of unregistered properties on the accommodation market, resulting in the value of formal accommodation providers, such as hotels and guesthouses declining.
Michele de Souza, chair of the Pietermaritzburg Bed and Breakfast Network, is advocating for specific regulations that Airbnb hosts should follow.
De Souza also called for Airbnb to pay taxes and adhere to business regulations like traditional businesses.
The Federal Government, through the Ministry of Solid Minerals Development, has pledged its commitment to work with a foremost consulting firm, PricewaterhouseCoopers, in executing policies under the seven-point roadmap to transform the sector.
The Special Assistant, Media to the Honourable Minister of Solid Minerals Development, Segun Tomori, says the collaborative effort would transform the solid minerals sector into the country’s highest source of revenue.
The Minister of Solid Minerals Development, Dele Alake, thanked the consulting firm for its contribution to the mining sector over the years, assuring that the expertise and ideas of PwC would be factored into reforms of the mining sector and implementation of the 7-point agenda.
The Federal Government, through the Ministry of Solid Minerals Development, has pledged its commitment to work with a foremost consulting firm, PricewaterhouseCoopers, in executing policies under the seven-point roadmap to transform the sector.
The Special Assistant, Media to the Honourable Minister of Solid Minerals Development, Segun Tomori, says the collaborative effort would transform the solid minerals sector into the country’s highest source of revenue.
The Minister of Solid Minerals Development, Dele Alake, thanked the consulting firm for its contribution to the mining sector over the years, assuring that the expertise and ideas of PwC would be factored into reforms of the mining sector and implementation of the 7-point agenda.
The Federal Government, through the Ministry of Solid Minerals Development, has pledged its commitment to work with a foremost consulting firm, PricewaterhouseCoopers, in executing policies under the seven-point roadmap to transform the sector.
The Special Assistant, Media to the Honourable Minister of Solid Minerals Development, Segun Tomori, says the collaborative effort would transform the solid minerals sector into the country’s highest source of revenue.
The Minister of Solid Minerals Development, Dele Alake, thanked the consulting firm for its contribution to the mining sector over the years, assuring that the expertise and ideas of PwC would be factored into reforms of the mining sector and implementation of the 7-point agenda.
The Federal Government, through the Ministry of Solid Minerals Development, has pledged its commitment to work with a foremost consulting firm, PricewaterhouseCoopers, in executing policies under the seven-point roadmap to transform the sector.
The Special Assistant, Media to the Honourable Minister of Solid Minerals Development, Segun Tomori, says the collaborative effort would transform the solid minerals sector into the country’s highest source of revenue.
The Minister of Solid Minerals Development, Dele Alake, thanked the consulting firm for its contribution to the mining sector over the years, assuring that the expertise and ideas of PwC would be factored into reforms of the mining sector and implementation of the 7-point agenda.
The Federal Government, through the Ministry of Solid Minerals Development, has pledged its commitment to work with a foremost consulting firm, PricewaterhouseCoopers, in executing policies under the seven-point roadmap to transform the sector.
The Special Assistant, Media to the Honourable Minister of Solid Minerals Development, Segun Tomori, says the collaborative effort would transform the solid minerals sector into the country’s highest source of revenue.
The Minister of Solid Minerals Development, Dele Alake, thanked the consulting firm for its contribution to the mining sector over the years, assuring that the expertise and ideas of PwC would be factored into reforms of the mining sector and implementation of the 7-point agenda.
The Federal Government, through the Ministry of Solid Minerals Development, has pledged its commitment to work with a foremost consulting firm, PricewaterhouseCoopers, in executing policies under the seven-point roadmap to transform the sector.
The Special Assistant, Media to the Honourable Minister of Solid Minerals Development, Segun Tomori, says the collaborative effort would transform the solid minerals sector into the country’s highest source of revenue.
The Minister of Solid Minerals Development, Dele Alake, thanked the consulting firm for its contribution to the mining sector over the years, assuring that the expertise and ideas of PwC would be factored into reforms of the mining sector and implementation of the 7-point agenda.
The Federal Government announced that it attracted over $2bn in investments in the renewable energy sector over the past decade.
It announced this through the Rural Electrification Agency, adding that in advancing these achievements, it established partnerships with the World Bank, African Development Bank, Global Alliance for People and Planet, Rocky Mountain Institute, and Japan International Cooperation Agency among others.
The Director, Promotion and Outreach, Mutari Ibrahim, says from 2020 to date, REA has provided power to over 7.5 million people including 1.5 million households, delivering 130 mini-grid projects, including 1.3 million standalone home systems.
He added that the agency has equally deployed over 1,650km of solar street lights, improving power, security, and economic growth in rural areas.
The Federal Government announced that it attracted over $2bn in investments in the renewable energy sector over the past decade.
It announced this through the Rural Electrification Agency, adding that in advancing these achievements, it established partnerships with the World Bank, African Development Bank, Global Alliance for People and Planet, Rocky Mountain Institute, and Japan International Cooperation Agency among others.
The Director, Promotion and Outreach, Mutari Ibrahim, says from 2020 to date, REA has provided power to over 7.5 million people including 1.5 million households, delivering 130 mini-grid projects, including 1.3 million standalone home systems.
He added that the agency has equally deployed over 1,650km of solar street lights, improving power, security, and economic growth in rural areas.
The Federal Government announced that it attracted over $2bn in investments in the renewable energy sector over the past decade.
It announced this through the Rural Electrification Agency, adding that in advancing these achievements, it established partnerships with the World Bank, African Development Bank, Global Alliance for People and Planet, Rocky Mountain Institute, and Japan International Cooperation Agency among others.
The Director, Promotion and Outreach, Mutari Ibrahim, says from 2020 to date, REA has provided power to over 7.5 million people including 1.5 million households, delivering 130 mini-grid projects, including 1.3 million standalone home systems.
He added that the agency has equally deployed over 1,650km of solar street lights, improving power, security, and economic growth in rural areas.
The Federal Government announced that it attracted over $2bn in investments in the renewable energy sector over the past decade.
It announced this through the Rural Electrification Agency, adding that in advancing these achievements, it established partnerships with the World Bank, African Development Bank, Global Alliance for People and Planet, Rocky Mountain Institute, and Japan International Cooperation Agency among others.
The Director, Promotion and Outreach, Mutari Ibrahim, says from 2020 to date, REA has provided power to over 7.5 million people including 1.5 million households, delivering 130 mini-grid projects, including 1.3 million standalone home systems.
He added that the agency has equally deployed over 1,650km of solar street lights, improving power, security, and economic growth in rural areas.
The Federal Government announced that it attracted over $2bn in investments in the renewable energy sector over the past decade.
It announced this through the Rural Electrification Agency, adding that in advancing these achievements, it established partnerships with the World Bank, African Development Bank, Global Alliance for People and Planet, Rocky Mountain Institute, and Japan International Cooperation Agency among others.
The Director, Promotion and Outreach, Mutari Ibrahim, says from 2020 to date, REA has provided power to over 7.5 million people including 1.5 million households, delivering 130 mini-grid projects, including 1.3 million standalone home systems.
He added that the agency has equally deployed over 1,650km of solar street lights, improving power, security, and economic growth in rural areas.
The Federal Government announced that it attracted over $2bn in investments in the renewable energy sector over the past decade.
It announced this through the Rural Electrification Agency, adding that in advancing these achievements, it established partnerships with the World Bank, African Development Bank, Global Alliance for People and Planet, Rocky Mountain Institute, and Japan International Cooperation Agency among others.
The Director, Promotion and Outreach, Mutari Ibrahim, says from 2020 to date, REA has provided power to over 7.5 million people including 1.5 million households, delivering 130 mini-grid projects, including 1.3 million standalone home systems.
He added that the agency has equally deployed over 1,650km of solar street lights, improving power, security, and economic growth in rural areas.
The Senate is calling for the unbundling of the Independent National Electoral Commission to improve the efficiency of the electoral body.
The Senate also resolved to make electronic transmission of results mandatory from the next general elections in 2027, including the uploading of polling unit-level results and result sheets used at different levels of result collation.
The upper chamber also weighed in on the security challenges in the country, saying a comprehensive national security strategy should be developed that addresses Nigeria’s needs.
The lawmakers say it is necessary for the Senate President and Speaker of the House of Representatives to be part of the security briefings that the president gets.
The Senate is calling for the unbundling of the Independent National Electoral Commission to improve the efficiency of the electoral body.
The Senate also resolved to make electronic transmission of results mandatory from the next general elections in 2027, including the uploading of polling unit-level results and result sheets used at different levels of result collation.
The upper chamber also weighed in on the security challenges in the country, saying a comprehensive national security strategy should be developed that addresses Nigeria’s needs.
The lawmakers say it is necessary for the Senate President and Speaker of the House of Representatives to be part of the security briefings that the president gets.
The Senate is calling for the unbundling of the Independent National Electoral Commission to improve the efficiency of the electoral body.
The Senate also resolved to make electronic transmission of results mandatory from the next general elections in 2027, including the uploading of polling unit-level results and result sheets used at different levels of result collation.
The upper chamber also weighed in on the security challenges in the country, saying a comprehensive national security strategy should be developed that addresses Nigeria’s needs.
The lawmakers say it is necessary for the Senate President and Speaker of the House of Representatives to be part of the security briefings that the president gets.
The Senate is calling for the unbundling of the Independent National Electoral Commission to improve the efficiency of the electoral body.
The Senate also resolved to make electronic transmission of results mandatory from the next general elections in 2027, including the uploading of polling unit-level results and result sheets used at different levels of result collation.
The upper chamber also weighed in on the security challenges in the country, saying a comprehensive national security strategy should be developed that addresses Nigeria’s needs.
The lawmakers say it is necessary for the Senate President and Speaker of the House of Representatives to be part of the security briefings that the president gets.
The Senate is calling for the unbundling of the Independent National Electoral Commission to improve the efficiency of the electoral body.
The Senate also resolved to make electronic transmission of results mandatory from the next general elections in 2027, including the uploading of polling unit-level results and result sheets used at different levels of result collation.
The upper chamber also weighed in on the security challenges in the country, saying a comprehensive national security strategy should be developed that addresses Nigeria’s needs.
The lawmakers say it is necessary for the Senate President and Speaker of the House of Representatives to be part of the security briefings that the president gets.
The Senate is calling for the unbundling of the Independent National Electoral Commission to improve the efficiency of the electoral body.
The Senate also resolved to make electronic transmission of results mandatory from the next general elections in 2027, including the uploading of polling unit-level results and result sheets used at different levels of result collation.
The upper chamber also weighed in on the security challenges in the country, saying a comprehensive national security strategy should be developed that addresses Nigeria’s needs.
The lawmakers say it is necessary for the Senate President and Speaker of the House of Representatives to be part of the security briefings that the president gets.
Human rights lawyer and Senior Advocate of Nigeria, Femi Falana, has asked the Minister of Interior, Olubunmi Tunji-Ojo, to review his plan for the payment of N500 million in fines imposed on not less than 4,000 convicts by various courts.
The minister had announced a plan to decongest the correctional centres in the country by ensuring the payment of the fines imposed on not less than 4,000 convicts by various courts in the 36 states of the Federation and the Federal Capital Territory.
Tunji-Ojo says the total fines of N500 million would be paid within the next four weeks.
The senior lawyer however says the minister should rather request President Bola Tinubu and the various state governors to exercise their prerogative of mercy by granting pardon to the 4,000 convicts to facilitate their immediate release from custody.
Human rights lawyer and Senior Advocate of Nigeria, Femi Falana, has asked the Minister of Interior, Olubunmi Tunji-Ojo, to review his plan for the payment of N500 million in fines imposed on not less than 4,000 convicts by various courts.
The minister had announced a plan to decongest the correctional centres in the country by ensuring the payment of the fines imposed on not less than 4,000 convicts by various courts in the 36 states of the Federation and the Federal Capital Territory.
Tunji-Ojo says the total fines of N500 million would be paid within the next four weeks.
The senior lawyer however says the minister should rather request President Bola Tinubu and the various state governors to exercise their prerogative of mercy by granting pardon to the 4,000 convicts to facilitate their immediate release from custody.
Human rights lawyer and Senior Advocate of Nigeria, Femi Falana, has asked the Minister of Interior, Olubunmi Tunji-Ojo, to review his plan for the payment of N500 million in fines imposed on not less than 4,000 convicts by various courts.
The minister had announced a plan to decongest the correctional centres in the country by ensuring the payment of the fines imposed on not less than 4,000 convicts by various courts in the 36 states of the Federation and the Federal Capital Territory.
Tunji-Ojo says the total fines of N500 million would be paid within the next four weeks.
The senior lawyer however says the minister should rather request President Bola Tinubu and the various state governors to exercise their prerogative of mercy by granting pardon to the 4,000 convicts to facilitate their immediate release from custody.
Human rights lawyer and Senior Advocate of Nigeria, Femi Falana, has asked the Minister of Interior, Olubunmi Tunji-Ojo, to review his plan for the payment of N500 million in fines imposed on not less than 4,000 convicts by various courts.
The minister had announced a plan to decongest the correctional centres in the country by ensuring the payment of the fines imposed on not less than 4,000 convicts by various courts in the 36 states of the Federation and the Federal Capital Territory.
Tunji-Ojo says the total fines of N500 million would be paid within the next four weeks.
The senior lawyer however says the minister should rather request President Bola Tinubu and the various state governors to exercise their prerogative of mercy by granting pardon to the 4,000 convicts to facilitate their immediate release from custody.
Human rights lawyer and Senior Advocate of Nigeria, Femi Falana, has asked the Minister of Interior, Olubunmi Tunji-Ojo, to review his plan for the payment of N500 million in fines imposed on not less than 4,000 convicts by various courts.
The minister had announced a plan to decongest the correctional centres in the country by ensuring the payment of the fines imposed on not less than 4,000 convicts by various courts in the 36 states of the Federation and the Federal Capital Territory.
Tunji-Ojo says the total fines of N500 million would be paid within the next four weeks.
The senior lawyer however says the minister should rather request President Bola Tinubu and the various state governors to exercise their prerogative of mercy by granting pardon to the 4,000 convicts to facilitate their immediate release from custody.
Human rights lawyer and Senior Advocate of Nigeria, Femi Falana, has asked the Minister of Interior, Olubunmi Tunji-Ojo, to review his plan for the payment of N500 million in fines imposed on not less than 4,000 convicts by various courts.
The minister had announced a plan to decongest the correctional centres in the country by ensuring the payment of the fines imposed on not less than 4,000 convicts by various courts in the 36 states of the Federation and the Federal Capital Territory.
Tunji-Ojo says the total fines of N500 million would be paid within the next four weeks.
The senior lawyer however says the minister should rather request President Bola Tinubu and the various state governors to exercise their prerogative of mercy by granting pardon to the 4,000 convicts to facilitate their immediate release from custody.
X, the social media site formerly known as Twitter, has begun charging new users in New Zealand and the Philippines to use the platform’s basic features and aims to expand the annual fee to all new users globally.
Under the trial, new users in the Philippines and New Zealand will have to pay about $0.75 and $0.85, respectively, each year, to be able to post and engage on X.
The company says those who decline to pay will only be able to read posts, watch videos and follow accounts.
The annual subscription is the latest in a string of controversial changes to the platform since billionaire Elon Musk bought Twitter last year for $44 billion.
X says the new fee would bolster existing efforts to reduce spam and manipulation of our platform and bot activity.
X, the social media site formerly known as Twitter, has begun charging new users in New Zealand and the Philippines to use the platform’s basic features and aims to expand the annual fee to all new users globally.
Under the trial, new users in the Philippines and New Zealand will have to pay about $0.75 and $0.85, respectively, each year, to be able to post and engage on X.
The company says those who decline to pay will only be able to read posts, watch videos and follow accounts.
The annual subscription is the latest in a string of controversial changes to the platform since billionaire Elon Musk bought Twitter last year for $44 billion.
X says the new fee would bolster existing efforts to reduce spam and manipulation of our platform and bot activity.
X, the social media site formerly known as Twitter, has begun charging new users in New Zealand and the Philippines to use the platform’s basic features and aims to expand the annual fee to all new users globally.
Under the trial, new users in the Philippines and New Zealand will have to pay about $0.75 and $0.85, respectively, each year, to be able to post and engage on X.
The company says those who decline to pay will only be able to read posts, watch videos and follow accounts.
The annual subscription is the latest in a string of controversial changes to the platform since billionaire Elon Musk bought Twitter last year for $44 billion.
X says the new fee would bolster existing efforts to reduce spam and manipulation of our platform and bot activity.
X, the social media site formerly known as Twitter, has begun charging new users in New Zealand and the Philippines to use the platform’s basic features and aims to expand the annual fee to all new users globally.
Under the trial, new users in the Philippines and New Zealand will have to pay about $0.75 and $0.85, respectively, each year, to be able to post and engage on X.
The company says those who decline to pay will only be able to read posts, watch videos and follow accounts.
The annual subscription is the latest in a string of controversial changes to the platform since billionaire Elon Musk bought Twitter last year for $44 billion.
X says the new fee would bolster existing efforts to reduce spam and manipulation of our platform and bot activity.
X, the social media site formerly known as Twitter, has begun charging new users in New Zealand and the Philippines to use the platform’s basic features and aims to expand the annual fee to all new users globally.
Under the trial, new users in the Philippines and New Zealand will have to pay about $0.75 and $0.85, respectively, each year, to be able to post and engage on X.
The company says those who decline to pay will only be able to read posts, watch videos and follow accounts.
The annual subscription is the latest in a string of controversial changes to the platform since billionaire Elon Musk bought Twitter last year for $44 billion.
X says the new fee would bolster existing efforts to reduce spam and manipulation of our platform and bot activity.
X, the social media site formerly known as Twitter, has begun charging new users in New Zealand and the Philippines to use the platform’s basic features and aims to expand the annual fee to all new users globally.
Under the trial, new users in the Philippines and New Zealand will have to pay about $0.75 and $0.85, respectively, each year, to be able to post and engage on X.
The company says those who decline to pay will only be able to read posts, watch videos and follow accounts.
The annual subscription is the latest in a string of controversial changes to the platform since billionaire Elon Musk bought Twitter last year for $44 billion.
X says the new fee would bolster existing efforts to reduce spam and manipulation of our platform and bot activity.
Malawi’s central bank devalued the kwacha by 25 per cent last May to stabilise dwindling forex reserves.
John Kapito, executive director of the Consumers Association of Malawi, says the worst is yet to come.
He added that the country has failed to balance its imports against exports and has relied heavily on donors for its forex reserves.
He added that the government's revenue collection has drastically gone down as a result of market inactivity and currently struggling to pay for its oversized civil service.
Malawi’s central bank devalued the kwacha by 25 per cent last May to stabilise dwindling forex reserves.
John Kapito, executive director of the Consumers Association of Malawi, says the worst is yet to come.
He added that the country has failed to balance its imports against exports and has relied heavily on donors for its forex reserves.
He added that the government's revenue collection has drastically gone down as a result of market inactivity and currently struggling to pay for its oversized civil service.
Malawi’s central bank devalued the kwacha by 25 per cent last May to stabilise dwindling forex reserves.
John Kapito, executive director of the Consumers Association of Malawi, says the worst is yet to come.
He added that the country has failed to balance its imports against exports and has relied heavily on donors for its forex reserves.
He added that the government's revenue collection has drastically gone down as a result of market inactivity and currently struggling to pay for its oversized civil service.
Malawi’s central bank devalued the kwacha by 25 per cent last May to stabilise dwindling forex reserves.
John Kapito, executive director of the Consumers Association of Malawi, says the worst is yet to come.
He added that the country has failed to balance its imports against exports and has relied heavily on donors for its forex reserves.
He added that the government's revenue collection has drastically gone down as a result of market inactivity and currently struggling to pay for its oversized civil service.
Malawi’s central bank devalued the kwacha by 25 per cent last May to stabilise dwindling forex reserves.
John Kapito, executive director of the Consumers Association of Malawi, says the worst is yet to come.
He added that the country has failed to balance its imports against exports and has relied heavily on donors for its forex reserves.
He added that the government's revenue collection has drastically gone down as a result of market inactivity and currently struggling to pay for its oversized civil service.
Malawi’s central bank devalued the kwacha by 25 per cent last May to stabilise dwindling forex reserves.
John Kapito, executive director of the Consumers Association of Malawi, says the worst is yet to come.
He added that the country has failed to balance its imports against exports and has relied heavily on donors for its forex reserves.
He added that the government's revenue collection has drastically gone down as a result of market inactivity and currently struggling to pay for its oversized civil service.
Chinese President Xi Jinping has warned Western states against decoupling from his country’s economy, insisting amid declining foreign investment that China’s development should be viewed as not a threat but an asset.
Xi’s caution came as he opened the Belt and Road Initiative forum in Beijingalso used his speech to laud the scheme, which was launched 10 years ago with the professed aim of building infrastructure and energy networks to link Asia, Africa and Europe.
Xi says Viewing others’ development as a threat or taking economic interdependence as a risk will not make one’s own life better or speed up one’s development.
Chinese President Xi Jinping has warned Western states against decoupling from his country’s economy, insisting amid declining foreign investment that China’s development should be viewed as not a threat but an asset.
Xi’s caution came as he opened the Belt and Road Initiative forum in Beijingalso used his speech to laud the scheme, which was launched 10 years ago with the professed aim of building infrastructure and energy networks to link Asia, Africa and Europe.
Xi says Viewing others’ development as a threat or taking economic interdependence as a risk will not make one’s own life better or speed up one’s development.
Chinese President Xi Jinping has warned Western states against decoupling from his country’s economy, insisting amid declining foreign investment that China’s development should be viewed as not a threat but an asset.
Xi’s caution came as he opened the Belt and Road Initiative forum in Beijingalso used his speech to laud the scheme, which was launched 10 years ago with the professed aim of building infrastructure and energy networks to link Asia, Africa and Europe.
Xi says Viewing others’ development as a threat or taking economic interdependence as a risk will not make one’s own life better or speed up one’s development.
Chinese President Xi Jinping has warned Western states against decoupling from his country’s economy, insisting amid declining foreign investment that China’s development should be viewed as not a threat but an asset.
Xi’s caution came as he opened the Belt and Road Initiative forum in Beijingalso used his speech to laud the scheme, which was launched 10 years ago with the professed aim of building infrastructure and energy networks to link Asia, Africa and Europe.
Xi says Viewing others’ development as a threat or taking economic interdependence as a risk will not make one’s own life better or speed up one’s development.
Chinese President Xi Jinping has warned Western states against decoupling from his country’s economy, insisting amid declining foreign investment that China’s development should be viewed as not a threat but an asset.
Xi’s caution came as he opened the Belt and Road Initiative forum in Beijingalso used his speech to laud the scheme, which was launched 10 years ago with the professed aim of building infrastructure and energy networks to link Asia, Africa and Europe.
Xi says Viewing others’ development as a threat or taking economic interdependence as a risk will not make one’s own life better or speed up one’s development.
Chinese President Xi Jinping has warned Western states against decoupling from his country’s economy, insisting amid declining foreign investment that China’s development should be viewed as not a threat but an asset.
Xi’s caution came as he opened the Belt and Road Initiative forum in Beijingalso used his speech to laud the scheme, which was launched 10 years ago with the professed aim of building infrastructure and energy networks to link Asia, Africa and Europe.
Xi says Viewing others’ development as a threat or taking economic interdependence as a risk will not make one’s own life better or speed up one’s development.
South African President Cyril Ramaphosa and his Ukrainian leader Volodymyr Zelensky have affirmed their shared desire for a peaceful resolution to the Russia-Ukraine conflict.
Mr Ramaphosa welcomed Mr Zelensky commitment to the revival of the Black Sea Grain Initiative and both leaders pledged to continue working together on that.
Ukraine has since proposed the establishment of grain hubs in African ports.
Mr Ramaphosa also committed his country's commitment to active engagement in the Africa Peace Initiative - presented earlier this year by seven African leaders as a possible basis for peace.
He also committed to the participation of his country for talks in the peace formula outlined by Ukraine - that are held at the level of national security advisers.
South African President Cyril Ramaphosa and his Ukrainian leader Volodymyr Zelensky have affirmed their shared desire for a peaceful resolution to the Russia-Ukraine conflict.
Mr Ramaphosa welcomed Mr Zelensky commitment to the revival of the Black Sea Grain Initiative and both leaders pledged to continue working together on that.
Ukraine has since proposed the establishment of grain hubs in African ports.
Mr Ramaphosa also committed his country's commitment to active engagement in the Africa Peace Initiative - presented earlier this year by seven African leaders as a possible basis for peace.
He also committed to the participation of his country for talks in the peace formula outlined by Ukraine - that are held at the level of national security advisers.
South African President Cyril Ramaphosa and his Ukrainian leader Volodymyr Zelensky have affirmed their shared desire for a peaceful resolution to the Russia-Ukraine conflict.
Mr Ramaphosa welcomed Mr Zelensky commitment to the revival of the Black Sea Grain Initiative and both leaders pledged to continue working together on that.
Ukraine has since proposed the establishment of grain hubs in African ports.
Mr Ramaphosa also committed his country's commitment to active engagement in the Africa Peace Initiative - presented earlier this year by seven African leaders as a possible basis for peace.
He also committed to the participation of his country for talks in the peace formula outlined by Ukraine - that are held at the level of national security advisers.
South African President Cyril Ramaphosa and his Ukrainian leader Volodymyr Zelensky have affirmed their shared desire for a peaceful resolution to the Russia-Ukraine conflict.
Mr Ramaphosa welcomed Mr Zelensky commitment to the revival of the Black Sea Grain Initiative and both leaders pledged to continue working together on that.
Ukraine has since proposed the establishment of grain hubs in African ports.
Mr Ramaphosa also committed his country's commitment to active engagement in the Africa Peace Initiative - presented earlier this year by seven African leaders as a possible basis for peace.
He also committed to the participation of his country for talks in the peace formula outlined by Ukraine - that are held at the level of national security advisers.
South African President Cyril Ramaphosa and his Ukrainian leader Volodymyr Zelensky have affirmed their shared desire for a peaceful resolution to the Russia-Ukraine conflict.
Mr Ramaphosa welcomed Mr Zelensky commitment to the revival of the Black Sea Grain Initiative and both leaders pledged to continue working together on that.
Ukraine has since proposed the establishment of grain hubs in African ports.
Mr Ramaphosa also committed his country's commitment to active engagement in the Africa Peace Initiative - presented earlier this year by seven African leaders as a possible basis for peace.
He also committed to the participation of his country for talks in the peace formula outlined by Ukraine - that are held at the level of national security advisers.
South African President Cyril Ramaphosa and his Ukrainian leader Volodymyr Zelensky have affirmed their shared desire for a peaceful resolution to the Russia-Ukraine conflict.
Mr Ramaphosa welcomed Mr Zelensky commitment to the revival of the Black Sea Grain Initiative and both leaders pledged to continue working together on that.
Ukraine has since proposed the establishment of grain hubs in African ports.
Mr Ramaphosa also committed his country's commitment to active engagement in the Africa Peace Initiative - presented earlier this year by seven African leaders as a possible basis for peace.
He also committed to the participation of his country for talks in the peace formula outlined by Ukraine - that are held at the level of national security advisers.
The Nigerian government says it will begin the distribution of $1.5bn cash to 15 million vulnerable households.
The cash handout is aimed at alleviating the soaring food, fuel and commodity prices.
, Finance Minister says each eligible household will get $32 in cash for a three-month period beginning this month.
The government believes the vulnerable households represent 62 million Nigerians - in a country with a population of more than 200 million.
However, questions have been raised about who qualifies for the handouts and how households will be chosen.
The Nigerian government says it will begin the distribution of $1.5bn cash to 15 million vulnerable households.
The cash handout is aimed at alleviating the soaring food, fuel and commodity prices.
, Finance Minister says each eligible household will get $32 in cash for a three-month period beginning this month.
The government believes the vulnerable households represent 62 million Nigerians - in a country with a population of more than 200 million.
However, questions have been raised about who qualifies for the handouts and how households will be chosen.
The Nigerian government says it will begin the distribution of $1.5bn cash to 15 million vulnerable households.
The cash handout is aimed at alleviating the soaring food, fuel and commodity prices.
, Finance Minister says each eligible household will get $32 in cash for a three-month period beginning this month.
The government believes the vulnerable households represent 62 million Nigerians - in a country with a population of more than 200 million.
However, questions have been raised about who qualifies for the handouts and how households will be chosen.
The Nigerian government says it will begin the distribution of $1.5bn cash to 15 million vulnerable households.
The cash handout is aimed at alleviating the soaring food, fuel and commodity prices.
, Finance Minister says each eligible household will get $32 in cash for a three-month period beginning this month.
The government believes the vulnerable households represent 62 million Nigerians - in a country with a population of more than 200 million.
However, questions have been raised about who qualifies for the handouts and how households will be chosen.
The Nigerian government says it will begin the distribution of $1.5bn cash to 15 million vulnerable households.
The cash handout is aimed at alleviating the soaring food, fuel and commodity prices.
, Finance Minister says each eligible household will get $32 in cash for a three-month period beginning this month.
The government believes the vulnerable households represent 62 million Nigerians - in a country with a population of more than 200 million.
However, questions have been raised about who qualifies for the handouts and how households will be chosen.
The Nigerian government says it will begin the distribution of $1.5bn cash to 15 million vulnerable households.
The cash handout is aimed at alleviating the soaring food, fuel and commodity prices.
, Finance Minister says each eligible household will get $32 in cash for a three-month period beginning this month.
The government believes the vulnerable households represent 62 million Nigerians - in a country with a population of more than 200 million.
However, questions have been raised about who qualifies for the handouts and how households will be chosen.
The People’s Republic of China has indicated its readiness to refinance and complete the Abuja-Kano, and Port-Harcourt-Maiduguri railway projects following a request by President Bola Tinubu.
He says China had agreed to provide 85 per cent financing for the construction of the Abuja-Kano and Port-Harcourt-Maiduguri railway projects, while Nigeria which had the duty of paying the balance 15% paid its part of the funding from the inception of the project through appropriations.
He stated that the crucial infrastructure also termed a legacy project has the China Civil Engineering Construction Corporation as the contractor named to execute the project.
The People’s Republic of China has indicated its readiness to refinance and complete the Abuja-Kano, and Port-Harcourt-Maiduguri railway projects following a request by President Bola Tinubu.
He says China had agreed to provide 85 per cent financing for the construction of the Abuja-Kano and Port-Harcourt-Maiduguri railway projects, while Nigeria which had the duty of paying the balance 15% paid its part of the funding from the inception of the project through appropriations.
He stated that the crucial infrastructure also termed a legacy project has the China Civil Engineering Construction Corporation as the contractor named to execute the project.
The People’s Republic of China has indicated its readiness to refinance and complete the Abuja-Kano, and Port-Harcourt-Maiduguri railway projects following a request by President Bola Tinubu.
He says China had agreed to provide 85 per cent financing for the construction of the Abuja-Kano and Port-Harcourt-Maiduguri railway projects, while Nigeria which had the duty of paying the balance 15% paid its part of the funding from the inception of the project through appropriations.
He stated that the crucial infrastructure also termed a legacy project has the China Civil Engineering Construction Corporation as the contractor named to execute the project.
The People’s Republic of China has indicated its readiness to refinance and complete the Abuja-Kano, and Port-Harcourt-Maiduguri railway projects following a request by President Bola Tinubu.
He says China had agreed to provide 85 per cent financing for the construction of the Abuja-Kano and Port-Harcourt-Maiduguri railway projects, while Nigeria which had the duty of paying the balance 15% paid its part of the funding from the inception of the project through appropriations.
He stated that the crucial infrastructure also termed a legacy project has the China Civil Engineering Construction Corporation as the contractor named to execute the project.
The People’s Republic of China has indicated its readiness to refinance and complete the Abuja-Kano, and Port-Harcourt-Maiduguri railway projects following a request by President Bola Tinubu.
He says China had agreed to provide 85 per cent financing for the construction of the Abuja-Kano and Port-Harcourt-Maiduguri railway projects, while Nigeria which had the duty of paying the balance 15% paid its part of the funding from the inception of the project through appropriations.
He stated that the crucial infrastructure also termed a legacy project has the China Civil Engineering Construction Corporation as the contractor named to execute the project.
The People’s Republic of China has indicated its readiness to refinance and complete the Abuja-Kano, and Port-Harcourt-Maiduguri railway projects following a request by President Bola Tinubu.
He says China had agreed to provide 85 per cent financing for the construction of the Abuja-Kano and Port-Harcourt-Maiduguri railway projects, while Nigeria which had the duty of paying the balance 15% paid its part of the funding from the inception of the project through appropriations.
He stated that the crucial infrastructure also termed a legacy project has the China Civil Engineering Construction Corporation as the contractor named to execute the project.
The former lawmaker who represented Kogi West in the ninth Senate, Adeyemi Smart says President Bola Tinubu will throw out any minister who fails to perform in six months.
The governorship aspirant in Kogi State described Tinubu as someone who will ask ministers to give a report to Nigerians.
He says if persons nominated or given appointments don’t perform the president will show them the way out without leaving them for eight years or four years.
The former lawmaker who represented Kogi West in the ninth Senate, Adeyemi Smart says President Bola Tinubu will throw out any minister who fails to perform in six months.
The governorship aspirant in Kogi State described Tinubu as someone who will ask ministers to give a report to Nigerians.
He says if persons nominated or given appointments don’t perform the president will show them the way out without leaving them for eight years or four years.
The former lawmaker who represented Kogi West in the ninth Senate, Adeyemi Smart says President Bola Tinubu will throw out any minister who fails to perform in six months.
The governorship aspirant in Kogi State described Tinubu as someone who will ask ministers to give a report to Nigerians.
He says if persons nominated or given appointments don’t perform the president will show them the way out without leaving them for eight years or four years.
The former lawmaker who represented Kogi West in the ninth Senate, Adeyemi Smart says President Bola Tinubu will throw out any minister who fails to perform in six months.
The governorship aspirant in Kogi State described Tinubu as someone who will ask ministers to give a report to Nigerians.
He says if persons nominated or given appointments don’t perform the president will show them the way out without leaving them for eight years or four years.
The former lawmaker who represented Kogi West in the ninth Senate, Adeyemi Smart says President Bola Tinubu will throw out any minister who fails to perform in six months.
The governorship aspirant in Kogi State described Tinubu as someone who will ask ministers to give a report to Nigerians.
He says if persons nominated or given appointments don’t perform the president will show them the way out without leaving them for eight years or four years.
The former lawmaker who represented Kogi West in the ninth Senate, Adeyemi Smart says President Bola Tinubu will throw out any minister who fails to perform in six months.
The governorship aspirant in Kogi State described Tinubu as someone who will ask ministers to give a report to Nigerians.
He says if persons nominated or given appointments don’t perform the president will show them the way out without leaving them for eight years or four years.
Indonesia’s Constitutional Court has upheld the minimum age requirement for presidential and vice presidential candidates, shutting down the possibility President Joko Widodo’s eldest son could run for vice president next year.
Chief Justice Anwar Usman, who is the president’s brother-in-law, led a panel of nine judges who rejected the petition to lower the minimum age to 35 years from 40.
The judges say determining the age limit was up to lawmakers and that the petition had no reasoning according to law.
Indonesia’s Constitutional Court has upheld the minimum age requirement for presidential and vice presidential candidates, shutting down the possibility President Joko Widodo’s eldest son could run for vice president next year.
Chief Justice Anwar Usman, who is the president’s brother-in-law, led a panel of nine judges who rejected the petition to lower the minimum age to 35 years from 40.
The judges say determining the age limit was up to lawmakers and that the petition had no reasoning according to law.
Indonesia’s Constitutional Court has upheld the minimum age requirement for presidential and vice presidential candidates, shutting down the possibility President Joko Widodo’s eldest son could run for vice president next year.
Chief Justice Anwar Usman, who is the president’s brother-in-law, led a panel of nine judges who rejected the petition to lower the minimum age to 35 years from 40.
The judges say determining the age limit was up to lawmakers and that the petition had no reasoning according to law.
Indonesia’s Constitutional Court has upheld the minimum age requirement for presidential and vice presidential candidates, shutting down the possibility President Joko Widodo’s eldest son could run for vice president next year.
Chief Justice Anwar Usman, who is the president’s brother-in-law, led a panel of nine judges who rejected the petition to lower the minimum age to 35 years from 40.
The judges say determining the age limit was up to lawmakers and that the petition had no reasoning according to law.
Indonesia’s Constitutional Court has upheld the minimum age requirement for presidential and vice presidential candidates, shutting down the possibility President Joko Widodo’s eldest son could run for vice president next year.
Chief Justice Anwar Usman, who is the president’s brother-in-law, led a panel of nine judges who rejected the petition to lower the minimum age to 35 years from 40.
The judges say determining the age limit was up to lawmakers and that the petition had no reasoning according to law.
Indonesia’s Constitutional Court has upheld the minimum age requirement for presidential and vice presidential candidates, shutting down the possibility President Joko Widodo’s eldest son could run for vice president next year.
Chief Justice Anwar Usman, who is the president’s brother-in-law, led a panel of nine judges who rejected the petition to lower the minimum age to 35 years from 40.
The judges say determining the age limit was up to lawmakers and that the petition had no reasoning according to law.
President William Ruto has barred the issuing of permits to millers to import wheat or maize into the country.
Ruto says the move is aimed at protecting local farmers. He said the government will only deviate from the directive if the local produce is insufficient.
The president pointed out that the government will allocate U.S. $ 27 million to buy maize from farmers.
He announced that National Cereals and Produce Board driers will be used to dry farmers' maize at a minimal fee of U.S.$0,34.
President William Ruto has barred the issuing of permits to millers to import wheat or maize into the country.
Ruto says the move is aimed at protecting local farmers. He said the government will only deviate from the directive if the local produce is insufficient.
The president pointed out that the government will allocate U.S. $ 27 million to buy maize from farmers.
He announced that National Cereals and Produce Board driers will be used to dry farmers' maize at a minimal fee of U.S.$0,34.
President William Ruto has barred the issuing of permits to millers to import wheat or maize into the country.
Ruto says the move is aimed at protecting local farmers. He said the government will only deviate from the directive if the local produce is insufficient.
The president pointed out that the government will allocate U.S. $ 27 million to buy maize from farmers.
He announced that National Cereals and Produce Board driers will be used to dry farmers' maize at a minimal fee of U.S.$0,34.
President William Ruto has barred the issuing of permits to millers to import wheat or maize into the country.
Ruto says the move is aimed at protecting local farmers. He said the government will only deviate from the directive if the local produce is insufficient.
The president pointed out that the government will allocate U.S. $ 27 million to buy maize from farmers.
He announced that National Cereals and Produce Board driers will be used to dry farmers' maize at a minimal fee of U.S.$0,34.
President William Ruto has barred the issuing of permits to millers to import wheat or maize into the country.
Ruto says the move is aimed at protecting local farmers. He said the government will only deviate from the directive if the local produce is insufficient.
The president pointed out that the government will allocate U.S. $ 27 million to buy maize from farmers.
He announced that National Cereals and Produce Board driers will be used to dry farmers' maize at a minimal fee of U.S.$0,34.
President William Ruto has barred the issuing of permits to millers to import wheat or maize into the country.
Ruto says the move is aimed at protecting local farmers. He said the government will only deviate from the directive if the local produce is insufficient.
The president pointed out that the government will allocate U.S. $ 27 million to buy maize from farmers.
He announced that National Cereals and Produce Board driers will be used to dry farmers' maize at a minimal fee of U.S.$0,34.
Uganda and the Democratic Republic of Congo have agreed to mutually abolish visa requirements to allow visa-free travel between each country.
The agreement is aimed at easing the movement of people and strengthening trade between the two countries.
Uganda's President Yoweri Museveni says Crossing in East Africa should be cost-free.
In May, he asked officials from both countries to speed up the process of introducing visa-free travel
Uganda and the Democratic Republic of Congo have agreed to mutually abolish visa requirements to allow visa-free travel between each country.
The agreement is aimed at easing the movement of people and strengthening trade between the two countries.
Uganda's President Yoweri Museveni says Crossing in East Africa should be cost-free.
In May, he asked officials from both countries to speed up the process of introducing visa-free travel
Uganda and the Democratic Republic of Congo have agreed to mutually abolish visa requirements to allow visa-free travel between each country.
The agreement is aimed at easing the movement of people and strengthening trade between the two countries.
Uganda's President Yoweri Museveni says Crossing in East Africa should be cost-free.
In May, he asked officials from both countries to speed up the process of introducing visa-free travel
Uganda and the Democratic Republic of Congo have agreed to mutually abolish visa requirements to allow visa-free travel between each country.
The agreement is aimed at easing the movement of people and strengthening trade between the two countries.
Uganda's President Yoweri Museveni says Crossing in East Africa should be cost-free.
In May, he asked officials from both countries to speed up the process of introducing visa-free travel
Uganda and the Democratic Republic of Congo have agreed to mutually abolish visa requirements to allow visa-free travel between each country.
The agreement is aimed at easing the movement of people and strengthening trade between the two countries.
Uganda's President Yoweri Museveni says Crossing in East Africa should be cost-free.
In May, he asked officials from both countries to speed up the process of introducing visa-free travel
Uganda and the Democratic Republic of Congo have agreed to mutually abolish visa requirements to allow visa-free travel between each country.
The agreement is aimed at easing the movement of people and strengthening trade between the two countries.
Uganda's President Yoweri Museveni says Crossing in East Africa should be cost-free.
In May, he asked officials from both countries to speed up the process of introducing visa-free travel
The federal government disclosed that it had concluded plans to secure a fresh $1.5 billion loan facility from the World Bank.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, pointed out that Nigeria has become almost number one on people's list when they want to look at where to invest.
He promised that there would be a coordination of monetary and fiscal policies, just as he pledged that
President Bola Tinubu's administration will not breach Ways and Means limits.
The federal government disclosed that it had concluded plans to secure a fresh $1.5 billion loan facility from the World Bank.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, pointed out that Nigeria has become almost number one on people's list when they want to look at where to invest.
He promised that there would be a coordination of monetary and fiscal policies, just as he pledged that
President Bola Tinubu's administration will not breach Ways and Means limits.
The federal government disclosed that it had concluded plans to secure a fresh $1.5 billion loan facility from the World Bank.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, pointed out that Nigeria has become almost number one on people's list when they want to look at where to invest.
He promised that there would be a coordination of monetary and fiscal policies, just as he pledged that
President Bola Tinubu's administration will not breach Ways and Means limits.
The federal government disclosed that it had concluded plans to secure a fresh $1.5 billion loan facility from the World Bank.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, pointed out that Nigeria has become almost number one on people's list when they want to look at where to invest.
He promised that there would be a coordination of monetary and fiscal policies, just as he pledged that
President Bola Tinubu's administration will not breach Ways and Means limits.
The federal government disclosed that it had concluded plans to secure a fresh $1.5 billion loan facility from the World Bank.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, pointed out that Nigeria has become almost number one on people's list when they want to look at where to invest.
He promised that there would be a coordination of monetary and fiscal policies, just as he pledged that
President Bola Tinubu's administration will not breach Ways and Means limits.
The federal government disclosed that it had concluded plans to secure a fresh $1.5 billion loan facility from the World Bank.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, pointed out that Nigeria has become almost number one on people's list when they want to look at where to invest.
He promised that there would be a coordination of monetary and fiscal policies, just as he pledged that
President Bola Tinubu's administration will not breach Ways and Means limits.
The Nigerian National Petroleum Company Limited has begun buying petrol via cash tenders, rather than oil swaps, for the first time in nearly a decade.
Shell Petroleum Development Company Limited has also disbursed N3.72 billion and an additional $12.32 million for host community development in compliance with the provisions of the Petroleum Industry Act.
NNPC will pay the last debts owed under the long-running oil swaps by the end of next month.
The shift is the result of efforts by President Bola Tinubu to eliminate costly fuel subsidies as part of broader reforms aimed at shoring up the country's struggling finances.
The Nigerian National Petroleum Company Limited has begun buying petrol via cash tenders, rather than oil swaps, for the first time in nearly a decade.
Shell Petroleum Development Company Limited has also disbursed N3.72 billion and an additional $12.32 million for host community development in compliance with the provisions of the Petroleum Industry Act.
NNPC will pay the last debts owed under the long-running oil swaps by the end of next month.
The shift is the result of efforts by President Bola Tinubu to eliminate costly fuel subsidies as part of broader reforms aimed at shoring up the country's struggling finances.
The Nigerian National Petroleum Company Limited has begun buying petrol via cash tenders, rather than oil swaps, for the first time in nearly a decade.
Shell Petroleum Development Company Limited has also disbursed N3.72 billion and an additional $12.32 million for host community development in compliance with the provisions of the Petroleum Industry Act.
NNPC will pay the last debts owed under the long-running oil swaps by the end of next month.
The shift is the result of efforts by President Bola Tinubu to eliminate costly fuel subsidies as part of broader reforms aimed at shoring up the country's struggling finances.
The Nigerian National Petroleum Company Limited has begun buying petrol via cash tenders, rather than oil swaps, for the first time in nearly a decade.
Shell Petroleum Development Company Limited has also disbursed N3.72 billion and an additional $12.32 million for host community development in compliance with the provisions of the Petroleum Industry Act.
NNPC will pay the last debts owed under the long-running oil swaps by the end of next month.
The shift is the result of efforts by President Bola Tinubu to eliminate costly fuel subsidies as part of broader reforms aimed at shoring up the country's struggling finances.
The Nigerian National Petroleum Company Limited has begun buying petrol via cash tenders, rather than oil swaps, for the first time in nearly a decade.
Shell Petroleum Development Company Limited has also disbursed N3.72 billion and an additional $12.32 million for host community development in compliance with the provisions of the Petroleum Industry Act.
NNPC will pay the last debts owed under the long-running oil swaps by the end of next month.
The shift is the result of efforts by President Bola Tinubu to eliminate costly fuel subsidies as part of broader reforms aimed at shoring up the country's struggling finances.
The Nigerian National Petroleum Company Limited has begun buying petrol via cash tenders, rather than oil swaps, for the first time in nearly a decade.
Shell Petroleum Development Company Limited has also disbursed N3.72 billion and an additional $12.32 million for host community development in compliance with the provisions of the Petroleum Industry Act.
NNPC will pay the last debts owed under the long-running oil swaps by the end of next month.
The shift is the result of efforts by President Bola Tinubu to eliminate costly fuel subsidies as part of broader reforms aimed at shoring up the country's struggling finances.
The Ministry of Housing and Urban Development has revealed plans to introduce an initiative aimed at revolutionising inclusivity and affordability in Nigeria through the introduction of cross-subsidies in housing projects.
The Special Adviser on Media to the Minister of Housing and Urban Development, Mark Chieshe, says the visionary strategy promises to redefine housing accessibility by integrating a mix of low, medium, and high-end housing projects, ensuring inclusivity for Nigerians of all income brackets.
The Minister had established the Committee during his first week in office to review designs of the Ministry’s projects and ensure that houses that the Ministry promotes fall within price ranges that low- and medium-income earners can afford.
The Ministry of Housing and Urban Development has revealed plans to introduce an initiative aimed at revolutionising inclusivity and affordability in Nigeria through the introduction of cross-subsidies in housing projects.
The Special Adviser on Media to the Minister of Housing and Urban Development, Mark Chieshe, says the visionary strategy promises to redefine housing accessibility by integrating a mix of low, medium, and high-end housing projects, ensuring inclusivity for Nigerians of all income brackets.
The Minister had established the Committee during his first week in office to review designs of the Ministry’s projects and ensure that houses that the Ministry promotes fall within price ranges that low- and medium-income earners can afford.
The Ministry of Housing and Urban Development has revealed plans to introduce an initiative aimed at revolutionising inclusivity and affordability in Nigeria through the introduction of cross-subsidies in housing projects.
The Special Adviser on Media to the Minister of Housing and Urban Development, Mark Chieshe, says the visionary strategy promises to redefine housing accessibility by integrating a mix of low, medium, and high-end housing projects, ensuring inclusivity for Nigerians of all income brackets.
The Minister had established the Committee during his first week in office to review designs of the Ministry’s projects and ensure that houses that the Ministry promotes fall within price ranges that low- and medium-income earners can afford.
The Ministry of Housing and Urban Development has revealed plans to introduce an initiative aimed at revolutionising inclusivity and affordability in Nigeria through the introduction of cross-subsidies in housing projects.
The Special Adviser on Media to the Minister of Housing and Urban Development, Mark Chieshe, says the visionary strategy promises to redefine housing accessibility by integrating a mix of low, medium, and high-end housing projects, ensuring inclusivity for Nigerians of all income brackets.
The Minister had established the Committee during his first week in office to review designs of the Ministry’s projects and ensure that houses that the Ministry promotes fall within price ranges that low- and medium-income earners can afford.
The Ministry of Housing and Urban Development has revealed plans to introduce an initiative aimed at revolutionising inclusivity and affordability in Nigeria through the introduction of cross-subsidies in housing projects.
The Special Adviser on Media to the Minister of Housing and Urban Development, Mark Chieshe, says the visionary strategy promises to redefine housing accessibility by integrating a mix of low, medium, and high-end housing projects, ensuring inclusivity for Nigerians of all income brackets.
The Minister had established the Committee during his first week in office to review designs of the Ministry’s projects and ensure that houses that the Ministry promotes fall within price ranges that low- and medium-income earners can afford.
The Ministry of Housing and Urban Development has revealed plans to introduce an initiative aimed at revolutionising inclusivity and affordability in Nigeria through the introduction of cross-subsidies in housing projects.
The Special Adviser on Media to the Minister of Housing and Urban Development, Mark Chieshe, says the visionary strategy promises to redefine housing accessibility by integrating a mix of low, medium, and high-end housing projects, ensuring inclusivity for Nigerians of all income brackets.
The Minister had established the Committee during his first week in office to review designs of the Ministry’s projects and ensure that houses that the Ministry promotes fall within price ranges that low- and medium-income earners can afford.
The International Monetary Fund has said the naira is currently under pressure and Nigeria is free to seek a loan from the Fund to stabilise the currency if it considers a good option.
The Washington-based lender however noted that recent exchange reforms and other steps taken by the Nigerian authorities were in order.
It also expressed support for Olayemi Cardoso-led Central Bank of Nigeria’s last week’s decision to halt the eight-year foreign exchange ban on cement, rice, poultry products and 40 other items.
IMF said inflation in Nigeria was till high at 26 per cent in August while the naira continued to be under pressure.
The International Monetary Fund has said the naira is currently under pressure and Nigeria is free to seek a loan from the Fund to stabilise the currency if it considers a good option.
The Washington-based lender however noted that recent exchange reforms and other steps taken by the Nigerian authorities were in order.
It also expressed support for Olayemi Cardoso-led Central Bank of Nigeria’s last week’s decision to halt the eight-year foreign exchange ban on cement, rice, poultry products and 40 other items.
IMF said inflation in Nigeria was till high at 26 per cent in August while the naira continued to be under pressure.
The International Monetary Fund has said the naira is currently under pressure and Nigeria is free to seek a loan from the Fund to stabilise the currency if it considers a good option.
The Washington-based lender however noted that recent exchange reforms and other steps taken by the Nigerian authorities were in order.
It also expressed support for Olayemi Cardoso-led Central Bank of Nigeria’s last week’s decision to halt the eight-year foreign exchange ban on cement, rice, poultry products and 40 other items.
IMF said inflation in Nigeria was till high at 26 per cent in August while the naira continued to be under pressure.
The International Monetary Fund has said the naira is currently under pressure and Nigeria is free to seek a loan from the Fund to stabilise the currency if it considers a good option.
The Washington-based lender however noted that recent exchange reforms and other steps taken by the Nigerian authorities were in order.
It also expressed support for Olayemi Cardoso-led Central Bank of Nigeria’s last week’s decision to halt the eight-year foreign exchange ban on cement, rice, poultry products and 40 other items.
IMF said inflation in Nigeria was till high at 26 per cent in August while the naira continued to be under pressure.
The International Monetary Fund has said the naira is currently under pressure and Nigeria is free to seek a loan from the Fund to stabilise the currency if it considers a good option.
The Washington-based lender however noted that recent exchange reforms and other steps taken by the Nigerian authorities were in order.
It also expressed support for Olayemi Cardoso-led Central Bank of Nigeria’s last week’s decision to halt the eight-year foreign exchange ban on cement, rice, poultry products and 40 other items.
IMF said inflation in Nigeria was till high at 26 per cent in August while the naira continued to be under pressure.
The International Monetary Fund has said the naira is currently under pressure and Nigeria is free to seek a loan from the Fund to stabilise the currency if it considers a good option.
The Washington-based lender however noted that recent exchange reforms and other steps taken by the Nigerian authorities were in order.
It also expressed support for Olayemi Cardoso-led Central Bank of Nigeria’s last week’s decision to halt the eight-year foreign exchange ban on cement, rice, poultry products and 40 other items.
IMF said inflation in Nigeria was till high at 26 per cent in August while the naira continued to be under pressure.
Japan’s government has announced it will ask a court to revoke the legal status of the Unification Church after former Prime Minister Shinzo Abe’s assassination raised questions about the group’s fundraising and recruitment tactics.
Education Minister Masahito Moriyama says the ministry proposed seeking the revocation after interviewing 170 people allegedly harmed by the church’s fundraising tactics and other problems.
He says the church failed to respond to dozens of questions during the hearings.
If its legal status is stripped, the church would lose its tax exemption privilege as a religious organisation but can still operate.
The man accused of shooting Abe at a campaign event allegedly told police he was motivated by the former prime minister’s links to the church, which he blamed for bankrupting his family.
Japan’s government has announced it will ask a court to revoke the legal status of the Unification Church after former Prime Minister Shinzo Abe’s assassination raised questions about the group’s fundraising and recruitment tactics.
Education Minister Masahito Moriyama says the ministry proposed seeking the revocation after interviewing 170 people allegedly harmed by the church’s fundraising tactics and other problems.
He says the church failed to respond to dozens of questions during the hearings.
If its legal status is stripped, the church would lose its tax exemption privilege as a religious organisation but can still operate.
The man accused of shooting Abe at a campaign event allegedly told police he was motivated by the former prime minister’s links to the church, which he blamed for bankrupting his family.
Japan’s government has announced it will ask a court to revoke the legal status of the Unification Church after former Prime Minister Shinzo Abe’s assassination raised questions about the group’s fundraising and recruitment tactics.
Education Minister Masahito Moriyama says the ministry proposed seeking the revocation after interviewing 170 people allegedly harmed by the church’s fundraising tactics and other problems.
He says the church failed to respond to dozens of questions during the hearings.
If its legal status is stripped, the church would lose its tax exemption privilege as a religious organisation but can still operate.
The man accused of shooting Abe at a campaign event allegedly told police he was motivated by the former prime minister’s links to the church, which he blamed for bankrupting his family.
Japan’s government has announced it will ask a court to revoke the legal status of the Unification Church after former Prime Minister Shinzo Abe’s assassination raised questions about the group’s fundraising and recruitment tactics.
Education Minister Masahito Moriyama says the ministry proposed seeking the revocation after interviewing 170 people allegedly harmed by the church’s fundraising tactics and other problems.
He says the church failed to respond to dozens of questions during the hearings.
If its legal status is stripped, the church would lose its tax exemption privilege as a religious organisation but can still operate.
The man accused of shooting Abe at a campaign event allegedly told police he was motivated by the former prime minister’s links to the church, which he blamed for bankrupting his family.
Japan’s government has announced it will ask a court to revoke the legal status of the Unification Church after former Prime Minister Shinzo Abe’s assassination raised questions about the group’s fundraising and recruitment tactics.
Education Minister Masahito Moriyama says the ministry proposed seeking the revocation after interviewing 170 people allegedly harmed by the church’s fundraising tactics and other problems.
He says the church failed to respond to dozens of questions during the hearings.
If its legal status is stripped, the church would lose its tax exemption privilege as a religious organisation but can still operate.
The man accused of shooting Abe at a campaign event allegedly told police he was motivated by the former prime minister’s links to the church, which he blamed for bankrupting his family.
Japan’s government has announced it will ask a court to revoke the legal status of the Unification Church after former Prime Minister Shinzo Abe’s assassination raised questions about the group’s fundraising and recruitment tactics.
Education Minister Masahito Moriyama says the ministry proposed seeking the revocation after interviewing 170 people allegedly harmed by the church’s fundraising tactics and other problems.
He says the church failed to respond to dozens of questions during the hearings.
If its legal status is stripped, the church would lose its tax exemption privilege as a religious organisation but can still operate.
The man accused of shooting Abe at a campaign event allegedly told police he was motivated by the former prime minister’s links to the church, which he blamed for bankrupting his family.
The Russian Olympic Committee has been suspended with immediate effect for recognising regional sports organizations from four territories annexed from Ukraine.
The International Olympic Committee added that the ROC would not be eligible for any funding after it recognised Olympic Councils from the regions of Luhansk, Donetsk, Kherson and Zaporizhzhia, but that it would not affect any Russian athletes competing as neutrals.
The IOC executive board is meeting in Mumbai, India ahead of the IOC session from October 15-17.
The ruling does not affect any decision on Russian and Belarusian athletes’ participation at the Paris 2024 Olympics, which the IOC will consider at a later date.
The Russian Olympic Committee has been suspended with immediate effect for recognising regional sports organizations from four territories annexed from Ukraine.
The International Olympic Committee added that the ROC would not be eligible for any funding after it recognised Olympic Councils from the regions of Luhansk, Donetsk, Kherson and Zaporizhzhia, but that it would not affect any Russian athletes competing as neutrals.
The IOC executive board is meeting in Mumbai, India ahead of the IOC session from October 15-17.
The ruling does not affect any decision on Russian and Belarusian athletes’ participation at the Paris 2024 Olympics, which the IOC will consider at a later date.
The Russian Olympic Committee has been suspended with immediate effect for recognising regional sports organizations from four territories annexed from Ukraine.
The International Olympic Committee added that the ROC would not be eligible for any funding after it recognised Olympic Councils from the regions of Luhansk, Donetsk, Kherson and Zaporizhzhia, but that it would not affect any Russian athletes competing as neutrals.
The IOC executive board is meeting in Mumbai, India ahead of the IOC session from October 15-17.
The ruling does not affect any decision on Russian and Belarusian athletes’ participation at the Paris 2024 Olympics, which the IOC will consider at a later date.
The Russian Olympic Committee has been suspended with immediate effect for recognising regional sports organizations from four territories annexed from Ukraine.
The International Olympic Committee added that the ROC would not be eligible for any funding after it recognised Olympic Councils from the regions of Luhansk, Donetsk, Kherson and Zaporizhzhia, but that it would not affect any Russian athletes competing as neutrals.
The IOC executive board is meeting in Mumbai, India ahead of the IOC session from October 15-17.
The ruling does not affect any decision on Russian and Belarusian athletes’ participation at the Paris 2024 Olympics, which the IOC will consider at a later date.
The Russian Olympic Committee has been suspended with immediate effect for recognising regional sports organizations from four territories annexed from Ukraine.
The International Olympic Committee added that the ROC would not be eligible for any funding after it recognised Olympic Councils from the regions of Luhansk, Donetsk, Kherson and Zaporizhzhia, but that it would not affect any Russian athletes competing as neutrals.
The IOC executive board is meeting in Mumbai, India ahead of the IOC session from October 15-17.
The ruling does not affect any decision on Russian and Belarusian athletes’ participation at the Paris 2024 Olympics, which the IOC will consider at a later date.
The Russian Olympic Committee has been suspended with immediate effect for recognising regional sports organizations from four territories annexed from Ukraine.
The International Olympic Committee added that the ROC would not be eligible for any funding after it recognised Olympic Councils from the regions of Luhansk, Donetsk, Kherson and Zaporizhzhia, but that it would not affect any Russian athletes competing as neutrals.
The IOC executive board is meeting in Mumbai, India ahead of the IOC session from October 15-17.
The ruling does not affect any decision on Russian and Belarusian athletes’ participation at the Paris 2024 Olympics, which the IOC will consider at a later date.
The South African authorities say they have uncovered a coal-smuggling syndicate that has played a major role in exacerbating the country's energy crisis.
The South African Revenue Service led what was described as a search and seizure operation across five provinces where the smugglers are active - Gauteng, Mpumalanga, KwaZulu-Natal, Free State and Limpopo.
The suspects include former employees of the state-owned electricity firm, Eskom.
A statement said the scam involved high-grade coal being sold off and replaced with a low-grade product which has been damaging power stations.
The South African authorities say they have uncovered a coal-smuggling syndicate that has played a major role in exacerbating the country's energy crisis.
The South African Revenue Service led what was described as a search and seizure operation across five provinces where the smugglers are active - Gauteng, Mpumalanga, KwaZulu-Natal, Free State and Limpopo.
The suspects include former employees of the state-owned electricity firm, Eskom.
A statement said the scam involved high-grade coal being sold off and replaced with a low-grade product which has been damaging power stations.
The South African authorities say they have uncovered a coal-smuggling syndicate that has played a major role in exacerbating the country's energy crisis.
The South African Revenue Service led what was described as a search and seizure operation across five provinces where the smugglers are active - Gauteng, Mpumalanga, KwaZulu-Natal, Free State and Limpopo.
The suspects include former employees of the state-owned electricity firm, Eskom.
A statement said the scam involved high-grade coal being sold off and replaced with a low-grade product which has been damaging power stations.
The South African authorities say they have uncovered a coal-smuggling syndicate that has played a major role in exacerbating the country's energy crisis.
The South African Revenue Service led what was described as a search and seizure operation across five provinces where the smugglers are active - Gauteng, Mpumalanga, KwaZulu-Natal, Free State and Limpopo.
The suspects include former employees of the state-owned electricity firm, Eskom.
A statement said the scam involved high-grade coal being sold off and replaced with a low-grade product which has been damaging power stations.
The South African authorities say they have uncovered a coal-smuggling syndicate that has played a major role in exacerbating the country's energy crisis.
The South African Revenue Service led what was described as a search and seizure operation across five provinces where the smugglers are active - Gauteng, Mpumalanga, KwaZulu-Natal, Free State and Limpopo.
The suspects include former employees of the state-owned electricity firm, Eskom.
A statement said the scam involved high-grade coal being sold off and replaced with a low-grade product which has been damaging power stations.
The South African authorities say they have uncovered a coal-smuggling syndicate that has played a major role in exacerbating the country's energy crisis.
The South African Revenue Service led what was described as a search and seizure operation across five provinces where the smugglers are active - Gauteng, Mpumalanga, KwaZulu-Natal, Free State and Limpopo.
The suspects include former employees of the state-owned electricity firm, Eskom.
A statement said the scam involved high-grade coal being sold off and replaced with a low-grade product which has been damaging power stations.
Burkina Faso and Russia are scheduled to sign a memorandum of understanding for the construction of a nuclear power plant in the West African nation.
The agreement will be a culmination of talks the Burkinabe military ruler, Capt Ibrahim Traore, had with Russian President Vladimir Putin in July, during the Russia-Africa summit in Moscow.
About 20% of Burkina Faso's population has access to electricity - one of the lowest rates in the world, according to the International Energy Atomic Agency.
Having fallen out with most of its traditional Western partners, including former colonial power France, Burkina Faso has turned to Russia for economic and military support.
Burkina Faso and Russia are scheduled to sign a memorandum of understanding for the construction of a nuclear power plant in the West African nation.
The agreement will be a culmination of talks the Burkinabe military ruler, Capt Ibrahim Traore, had with Russian President Vladimir Putin in July, during the Russia-Africa summit in Moscow.
About 20% of Burkina Faso's population has access to electricity - one of the lowest rates in the world, according to the International Energy Atomic Agency.
Having fallen out with most of its traditional Western partners, including former colonial power France, Burkina Faso has turned to Russia for economic and military support.
Burkina Faso and Russia are scheduled to sign a memorandum of understanding for the construction of a nuclear power plant in the West African nation.
The agreement will be a culmination of talks the Burkinabe military ruler, Capt Ibrahim Traore, had with Russian President Vladimir Putin in July, during the Russia-Africa summit in Moscow.
About 20% of Burkina Faso's population has access to electricity - one of the lowest rates in the world, according to the International Energy Atomic Agency.
Having fallen out with most of its traditional Western partners, including former colonial power France, Burkina Faso has turned to Russia for economic and military support.
Burkina Faso and Russia are scheduled to sign a memorandum of understanding for the construction of a nuclear power plant in the West African nation.
The agreement will be a culmination of talks the Burkinabe military ruler, Capt Ibrahim Traore, had with Russian President Vladimir Putin in July, during the Russia-Africa summit in Moscow.
About 20% of Burkina Faso's population has access to electricity - one of the lowest rates in the world, according to the International Energy Atomic Agency.
Having fallen out with most of its traditional Western partners, including former colonial power France, Burkina Faso has turned to Russia for economic and military support.
Burkina Faso and Russia are scheduled to sign a memorandum of understanding for the construction of a nuclear power plant in the West African nation.
The agreement will be a culmination of talks the Burkinabe military ruler, Capt Ibrahim Traore, had with Russian President Vladimir Putin in July, during the Russia-Africa summit in Moscow.
About 20% of Burkina Faso's population has access to electricity - one of the lowest rates in the world, according to the International Energy Atomic Agency.
Having fallen out with most of its traditional Western partners, including former colonial power France, Burkina Faso has turned to Russia for economic and military support.
Burkina Faso and Russia are scheduled to sign a memorandum of understanding for the construction of a nuclear power plant in the West African nation.
The agreement will be a culmination of talks the Burkinabe military ruler, Capt Ibrahim Traore, had with Russian President Vladimir Putin in July, during the Russia-Africa summit in Moscow.
About 20% of Burkina Faso's population has access to electricity - one of the lowest rates in the world, according to the International Energy Atomic Agency.
Having fallen out with most of its traditional Western partners, including former colonial power France, Burkina Faso has turned to Russia for economic and military support.
The Federal Government has granted a Petroleum Exploration Licence to TGS-PetroData Offshore Services Limited, which is the first such licence to be issued under the Petroleum Industry Act 2021.
It says the licence, which was granted by the Nigerian Upstream Petroleum Commission, was in compliance with the provisions of Section 71 (1) – (10) of the PIA.
The Chief Executive, of NUPRC, Gbenga Komolafe, says the Petroleum Exploration Licence was under the licence agreement which the commission and TGS-PD executed for a geophysical survey project.
He said in a statement he personally signed that the licence was for the acquisition of about 56,000 square kilometres of 3D seismic and gravity data, adding that the development would attract investment in the oil and gas sector.
The Federal Government has granted a Petroleum Exploration Licence to TGS-PetroData Offshore Services Limited, which is the first such licence to be issued under the Petroleum Industry Act 2021.
It says the licence, which was granted by the Nigerian Upstream Petroleum Commission, was in compliance with the provisions of Section 71 (1) – (10) of the PIA.
The Chief Executive, of NUPRC, Gbenga Komolafe, says the Petroleum Exploration Licence was under the licence agreement which the commission and TGS-PD executed for a geophysical survey project.
He said in a statement he personally signed that the licence was for the acquisition of about 56,000 square kilometres of 3D seismic and gravity data, adding that the development would attract investment in the oil and gas sector.
The Federal Government has granted a Petroleum Exploration Licence to TGS-PetroData Offshore Services Limited, which is the first such licence to be issued under the Petroleum Industry Act 2021.
It says the licence, which was granted by the Nigerian Upstream Petroleum Commission, was in compliance with the provisions of Section 71 (1) – (10) of the PIA.
The Chief Executive, of NUPRC, Gbenga Komolafe, says the Petroleum Exploration Licence was under the licence agreement which the commission and TGS-PD executed for a geophysical survey project.
He said in a statement he personally signed that the licence was for the acquisition of about 56,000 square kilometres of 3D seismic and gravity data, adding that the development would attract investment in the oil and gas sector.
The Federal Government has granted a Petroleum Exploration Licence to TGS-PetroData Offshore Services Limited, which is the first such licence to be issued under the Petroleum Industry Act 2021.
It says the licence, which was granted by the Nigerian Upstream Petroleum Commission, was in compliance with the provisions of Section 71 (1) – (10) of the PIA.
The Chief Executive, of NUPRC, Gbenga Komolafe, says the Petroleum Exploration Licence was under the licence agreement which the commission and TGS-PD executed for a geophysical survey project.
He said in a statement he personally signed that the licence was for the acquisition of about 56,000 square kilometres of 3D seismic and gravity data, adding that the development would attract investment in the oil and gas sector.
The Federal Government has granted a Petroleum Exploration Licence to TGS-PetroData Offshore Services Limited, which is the first such licence to be issued under the Petroleum Industry Act 2021.
It says the licence, which was granted by the Nigerian Upstream Petroleum Commission, was in compliance with the provisions of Section 71 (1) – (10) of the PIA.
The Chief Executive, of NUPRC, Gbenga Komolafe, says the Petroleum Exploration Licence was under the licence agreement which the commission and TGS-PD executed for a geophysical survey project.
He said in a statement he personally signed that the licence was for the acquisition of about 56,000 square kilometres of 3D seismic and gravity data, adding that the development would attract investment in the oil and gas sector.
The Federal Government has granted a Petroleum Exploration Licence to TGS-PetroData Offshore Services Limited, which is the first such licence to be issued under the Petroleum Industry Act 2021.
It says the licence, which was granted by the Nigerian Upstream Petroleum Commission, was in compliance with the provisions of Section 71 (1) – (10) of the PIA.
The Chief Executive, of NUPRC, Gbenga Komolafe, says the Petroleum Exploration Licence was under the licence agreement which the commission and TGS-PD executed for a geophysical survey project.
He said in a statement he personally signed that the licence was for the acquisition of about 56,000 square kilometres of 3D seismic and gravity data, adding that the development would attract investment in the oil and gas sector.
The Lagos State Government says there will be a momentary pause on the services of the Lagos Rail Mass Transit Blue Line on Saturday after the morning peak service and for the entire day on Sunday.
Governor Babajide Sanwo-Olu, says the suspension of services for the two days is to allow for an increase in train trips from 12 to 54.
Sanwo-Olu added that the momentary shutdown will allow a switch to electricity and ensure the safety of the passengers noting that the plan is to achieve 74 trips by the end of November.
The Lagos State Government says there will be a momentary pause on the services of the Lagos Rail Mass Transit Blue Line on Saturday after the morning peak service and for the entire day on Sunday.
Governor Babajide Sanwo-Olu, says the suspension of services for the two days is to allow for an increase in train trips from 12 to 54.
Sanwo-Olu added that the momentary shutdown will allow a switch to electricity and ensure the safety of the passengers noting that the plan is to achieve 74 trips by the end of November.
The Lagos State Government says there will be a momentary pause on the services of the Lagos Rail Mass Transit Blue Line on Saturday after the morning peak service and for the entire day on Sunday.
Governor Babajide Sanwo-Olu, says the suspension of services for the two days is to allow for an increase in train trips from 12 to 54.
Sanwo-Olu added that the momentary shutdown will allow a switch to electricity and ensure the safety of the passengers noting that the plan is to achieve 74 trips by the end of November.
The Lagos State Government says there will be a momentary pause on the services of the Lagos Rail Mass Transit Blue Line on Saturday after the morning peak service and for the entire day on Sunday.
Governor Babajide Sanwo-Olu, says the suspension of services for the two days is to allow for an increase in train trips from 12 to 54.
Sanwo-Olu added that the momentary shutdown will allow a switch to electricity and ensure the safety of the passengers noting that the plan is to achieve 74 trips by the end of November.
The Lagos State Government says there will be a momentary pause on the services of the Lagos Rail Mass Transit Blue Line on Saturday after the morning peak service and for the entire day on Sunday.
Governor Babajide Sanwo-Olu, says the suspension of services for the two days is to allow for an increase in train trips from 12 to 54.
Sanwo-Olu added that the momentary shutdown will allow a switch to electricity and ensure the safety of the passengers noting that the plan is to achieve 74 trips by the end of November.
The Lagos State Government says there will be a momentary pause on the services of the Lagos Rail Mass Transit Blue Line on Saturday after the morning peak service and for the entire day on Sunday.
Governor Babajide Sanwo-Olu, says the suspension of services for the two days is to allow for an increase in train trips from 12 to 54.
Sanwo-Olu added that the momentary shutdown will allow a switch to electricity and ensure the safety of the passengers noting that the plan is to achieve 74 trips by the end of November.
The Central Bank of Nigeria has lifted the forex ban on 43 items and also promised to intervene in the FX market from time to time.
The apex bank had in 2015 restricted the items from accessing FX from the I&E window, saying they were not valid for foreign exchange and could be produced in the country. Items affected include rice, cement, palm kernel, meat and processed meat products, poultry, soap, and cosmetics among others.
The bank’s Director of Corporate Communications Isa AbdulMumin says the ban has been lifted.
He says as part of its responsibility to ensure price stability, the CBN will boost liquidity in the Nigerian Foreign Exchange Market by interventions from time to time.
The Central Bank of Nigeria has lifted the forex ban on 43 items and also promised to intervene in the FX market from time to time.
The apex bank had in 2015 restricted the items from accessing FX from the I&E window, saying they were not valid for foreign exchange and could be produced in the country. Items affected include rice, cement, palm kernel, meat and processed meat products, poultry, soap, and cosmetics among others.
The bank’s Director of Corporate Communications Isa AbdulMumin says the ban has been lifted.
He says as part of its responsibility to ensure price stability, the CBN will boost liquidity in the Nigerian Foreign Exchange Market by interventions from time to time.
The Central Bank of Nigeria has lifted the forex ban on 43 items and also promised to intervene in the FX market from time to time.
The apex bank had in 2015 restricted the items from accessing FX from the I&E window, saying they were not valid for foreign exchange and could be produced in the country. Items affected include rice, cement, palm kernel, meat and processed meat products, poultry, soap, and cosmetics among others.
The bank’s Director of Corporate Communications Isa AbdulMumin says the ban has been lifted.
He says as part of its responsibility to ensure price stability, the CBN will boost liquidity in the Nigerian Foreign Exchange Market by interventions from time to time.
The Central Bank of Nigeria has lifted the forex ban on 43 items and also promised to intervene in the FX market from time to time.
The apex bank had in 2015 restricted the items from accessing FX from the I&E window, saying they were not valid for foreign exchange and could be produced in the country. Items affected include rice, cement, palm kernel, meat and processed meat products, poultry, soap, and cosmetics among others.
The bank’s Director of Corporate Communications Isa AbdulMumin says the ban has been lifted.
He says as part of its responsibility to ensure price stability, the CBN will boost liquidity in the Nigerian Foreign Exchange Market by interventions from time to time.
The Central Bank of Nigeria has lifted the forex ban on 43 items and also promised to intervene in the FX market from time to time.
The apex bank had in 2015 restricted the items from accessing FX from the I&E window, saying they were not valid for foreign exchange and could be produced in the country. Items affected include rice, cement, palm kernel, meat and processed meat products, poultry, soap, and cosmetics among others.
The bank’s Director of Corporate Communications Isa AbdulMumin says the ban has been lifted.
He says as part of its responsibility to ensure price stability, the CBN will boost liquidity in the Nigerian Foreign Exchange Market by interventions from time to time.
The Central Bank of Nigeria has lifted the forex ban on 43 items and also promised to intervene in the FX market from time to time.
The apex bank had in 2015 restricted the items from accessing FX from the I&E window, saying they were not valid for foreign exchange and could be produced in the country. Items affected include rice, cement, palm kernel, meat and processed meat products, poultry, soap, and cosmetics among others.
The bank’s Director of Corporate Communications Isa AbdulMumin says the ban has been lifted.
He says as part of its responsibility to ensure price stability, the CBN will boost liquidity in the Nigerian Foreign Exchange Market by interventions from time to time.
The International Monetary Fund says it has reached a preliminary agreement with the Ghanaian authorities on the economic policies and reforms to conclude the first review of the $3bn bailout fund the country is currently receiving.
It said it was satisfied with Ghana’s performance with respect to the programme’s targets and reform objectives.
Stéphane Roudet, IMF mission chief for Ghana says the authorities have adjusted macroeconomic policies, successfully completed their domestic debt restructuring operation and launched wide-ranging reforms.
Stéphane Roudet added that If this staff-level agreement is given the IMF management’s approval, Ghana would receive about $600m, the second instalment of the three-year bailout programme.
The International Monetary Fund says it has reached a preliminary agreement with the Ghanaian authorities on the economic policies and reforms to conclude the first review of the $3bn bailout fund the country is currently receiving.
It said it was satisfied with Ghana’s performance with respect to the programme’s targets and reform objectives.
Stéphane Roudet, IMF mission chief for Ghana says the authorities have adjusted macroeconomic policies, successfully completed their domestic debt restructuring operation and launched wide-ranging reforms.
Stéphane Roudet added that If this staff-level agreement is given the IMF management’s approval, Ghana would receive about $600m, the second instalment of the three-year bailout programme.
The International Monetary Fund says it has reached a preliminary agreement with the Ghanaian authorities on the economic policies and reforms to conclude the first review of the $3bn bailout fund the country is currently receiving.
It said it was satisfied with Ghana’s performance with respect to the programme’s targets and reform objectives.
Stéphane Roudet, IMF mission chief for Ghana says the authorities have adjusted macroeconomic policies, successfully completed their domestic debt restructuring operation and launched wide-ranging reforms.
Stéphane Roudet added that If this staff-level agreement is given the IMF management’s approval, Ghana would receive about $600m, the second instalment of the three-year bailout programme.
The International Monetary Fund says it has reached a preliminary agreement with the Ghanaian authorities on the economic policies and reforms to conclude the first review of the $3bn bailout fund the country is currently receiving.
It said it was satisfied with Ghana’s performance with respect to the programme’s targets and reform objectives.
Stéphane Roudet, IMF mission chief for Ghana says the authorities have adjusted macroeconomic policies, successfully completed their domestic debt restructuring operation and launched wide-ranging reforms.
Stéphane Roudet added that If this staff-level agreement is given the IMF management’s approval, Ghana would receive about $600m, the second instalment of the three-year bailout programme.
The International Monetary Fund says it has reached a preliminary agreement with the Ghanaian authorities on the economic policies and reforms to conclude the first review of the $3bn bailout fund the country is currently receiving.
It said it was satisfied with Ghana’s performance with respect to the programme’s targets and reform objectives.
Stéphane Roudet, IMF mission chief for Ghana says the authorities have adjusted macroeconomic policies, successfully completed their domestic debt restructuring operation and launched wide-ranging reforms.
Stéphane Roudet added that If this staff-level agreement is given the IMF management’s approval, Ghana would receive about $600m, the second instalment of the three-year bailout programme.
The International Monetary Fund says it has reached a preliminary agreement with the Ghanaian authorities on the economic policies and reforms to conclude the first review of the $3bn bailout fund the country is currently receiving.
It said it was satisfied with Ghana’s performance with respect to the programme’s targets and reform objectives.
Stéphane Roudet, IMF mission chief for Ghana says the authorities have adjusted macroeconomic policies, successfully completed their domestic debt restructuring operation and launched wide-ranging reforms.
Stéphane Roudet added that If this staff-level agreement is given the IMF management’s approval, Ghana would receive about $600m, the second instalment of the three-year bailout programme.
The United States says it was disturbed by a Russian envoy’s announcement that Moscow will reverse its ratification of a 1996 treaty that banned the testing of nuclear weapons.
Russia’s envoy to the Comprehensive Nuclear-Test-Ban Treaty Organization, Mikhail Ulyanov, says that Moscow will revoke its ratification of the pact.
The announcement by Ulyanov added new fuel to tensions between the world’s largest nuclear weapons powers amid Russia’s invasion of Ukraine and US military support for Kyiv.
Ulyanov says the aim is to be on equal footing with the US who signed the treaty but didn’t ratify it adding that revocation doesn’t mean the intention to resume nuclear tests.
The United States says it was disturbed by a Russian envoy’s announcement that Moscow will reverse its ratification of a 1996 treaty that banned the testing of nuclear weapons.
Russia’s envoy to the Comprehensive Nuclear-Test-Ban Treaty Organization, Mikhail Ulyanov, says that Moscow will revoke its ratification of the pact.
The announcement by Ulyanov added new fuel to tensions between the world’s largest nuclear weapons powers amid Russia’s invasion of Ukraine and US military support for Kyiv.
Ulyanov says the aim is to be on equal footing with the US who signed the treaty but didn’t ratify it adding that revocation doesn’t mean the intention to resume nuclear tests.
The United States says it was disturbed by a Russian envoy’s announcement that Moscow will reverse its ratification of a 1996 treaty that banned the testing of nuclear weapons.
Russia’s envoy to the Comprehensive Nuclear-Test-Ban Treaty Organization, Mikhail Ulyanov, says that Moscow will revoke its ratification of the pact.
The announcement by Ulyanov added new fuel to tensions between the world’s largest nuclear weapons powers amid Russia’s invasion of Ukraine and US military support for Kyiv.
Ulyanov says the aim is to be on equal footing with the US who signed the treaty but didn’t ratify it adding that revocation doesn’t mean the intention to resume nuclear tests.
The United States says it was disturbed by a Russian envoy’s announcement that Moscow will reverse its ratification of a 1996 treaty that banned the testing of nuclear weapons.
Russia’s envoy to the Comprehensive Nuclear-Test-Ban Treaty Organization, Mikhail Ulyanov, says that Moscow will revoke its ratification of the pact.
The announcement by Ulyanov added new fuel to tensions between the world’s largest nuclear weapons powers amid Russia’s invasion of Ukraine and US military support for Kyiv.
Ulyanov says the aim is to be on equal footing with the US who signed the treaty but didn’t ratify it adding that revocation doesn’t mean the intention to resume nuclear tests.
The United States says it was disturbed by a Russian envoy’s announcement that Moscow will reverse its ratification of a 1996 treaty that banned the testing of nuclear weapons.
Russia’s envoy to the Comprehensive Nuclear-Test-Ban Treaty Organization, Mikhail Ulyanov, says that Moscow will revoke its ratification of the pact.
The announcement by Ulyanov added new fuel to tensions between the world’s largest nuclear weapons powers amid Russia’s invasion of Ukraine and US military support for Kyiv.
Ulyanov says the aim is to be on equal footing with the US who signed the treaty but didn’t ratify it adding that revocation doesn’t mean the intention to resume nuclear tests.
The United States says it was disturbed by a Russian envoy’s announcement that Moscow will reverse its ratification of a 1996 treaty that banned the testing of nuclear weapons.
Russia’s envoy to the Comprehensive Nuclear-Test-Ban Treaty Organization, Mikhail Ulyanov, says that Moscow will revoke its ratification of the pact.
The announcement by Ulyanov added new fuel to tensions between the world’s largest nuclear weapons powers amid Russia’s invasion of Ukraine and US military support for Kyiv.
Ulyanov says the aim is to be on equal footing with the US who signed the treaty but didn’t ratify it adding that revocation doesn’t mean the intention to resume nuclear tests.
The United Nations Security Council has met behind closed doors in an emergency session amid the war between Israel and Gaza but failed to achieve the unanimity needed for a joint statement.
Israel retaliated by declaring a state of war and pounding densely-populated Gaza, killing hundreds of people.
The United States called on the council’s 15 members to strongly condemn Hamas.
The council met for about 90 minutes and heard a briefing from the UN Middle East peace envoy Tor Wennesland.
Diplomats say members led by Russia were hoping for a broader focus than condemning Hamas.
The United Nations Security Council has met behind closed doors in an emergency session amid the war between Israel and Gaza but failed to achieve the unanimity needed for a joint statement.
Israel retaliated by declaring a state of war and pounding densely-populated Gaza, killing hundreds of people.
The United States called on the council’s 15 members to strongly condemn Hamas.
The council met for about 90 minutes and heard a briefing from the UN Middle East peace envoy Tor Wennesland.
Diplomats say members led by Russia were hoping for a broader focus than condemning Hamas.
The United Nations Security Council has met behind closed doors in an emergency session amid the war between Israel and Gaza but failed to achieve the unanimity needed for a joint statement.
Israel retaliated by declaring a state of war and pounding densely-populated Gaza, killing hundreds of people.
The United States called on the council’s 15 members to strongly condemn Hamas.
The council met for about 90 minutes and heard a briefing from the UN Middle East peace envoy Tor Wennesland.
Diplomats say members led by Russia were hoping for a broader focus than condemning Hamas.
The United Nations Security Council has met behind closed doors in an emergency session amid the war between Israel and Gaza but failed to achieve the unanimity needed for a joint statement.
Israel retaliated by declaring a state of war and pounding densely-populated Gaza, killing hundreds of people.
The United States called on the council’s 15 members to strongly condemn Hamas.
The council met for about 90 minutes and heard a briefing from the UN Middle East peace envoy Tor Wennesland.
Diplomats say members led by Russia were hoping for a broader focus than condemning Hamas.
The United Nations Security Council has met behind closed doors in an emergency session amid the war between Israel and Gaza but failed to achieve the unanimity needed for a joint statement.
Israel retaliated by declaring a state of war and pounding densely-populated Gaza, killing hundreds of people.
The United States called on the council’s 15 members to strongly condemn Hamas.
The council met for about 90 minutes and heard a briefing from the UN Middle East peace envoy Tor Wennesland.
Diplomats say members led by Russia were hoping for a broader focus than condemning Hamas.
The United Nations Security Council has met behind closed doors in an emergency session amid the war between Israel and Gaza but failed to achieve the unanimity needed for a joint statement.
Israel retaliated by declaring a state of war and pounding densely-populated Gaza, killing hundreds of people.
The United States called on the council’s 15 members to strongly condemn Hamas.
The council met for about 90 minutes and heard a briefing from the UN Middle East peace envoy Tor Wennesland.
Diplomats say members led by Russia were hoping for a broader focus than condemning Hamas.
Niger has been forced to cut its budget by 40% over the impact of sanctions and suspension of aid after the 26 July coup.
There are fears that the sanctions may worsen the economic situation in Niger - one of the world’s poorest countries.
The military junta announced a 2023 budget cut from $5.3bn to $3.2bn, although details of the cuts are lacking.
At least 40% of the West African country's budget support this year was expected to come from external partners.
The import-dependent country has recorded soaring food and commodity prices and a limited supply of medicines, owing to trade restrictions.
Niger has been forced to cut its budget by 40% over the impact of sanctions and suspension of aid after the 26 July coup.
There are fears that the sanctions may worsen the economic situation in Niger - one of the world’s poorest countries.
The military junta announced a 2023 budget cut from $5.3bn to $3.2bn, although details of the cuts are lacking.
At least 40% of the West African country's budget support this year was expected to come from external partners.
The import-dependent country has recorded soaring food and commodity prices and a limited supply of medicines, owing to trade restrictions.
Niger has been forced to cut its budget by 40% over the impact of sanctions and suspension of aid after the 26 July coup.
There are fears that the sanctions may worsen the economic situation in Niger - one of the world’s poorest countries.
The military junta announced a 2023 budget cut from $5.3bn to $3.2bn, although details of the cuts are lacking.
At least 40% of the West African country's budget support this year was expected to come from external partners.
The import-dependent country has recorded soaring food and commodity prices and a limited supply of medicines, owing to trade restrictions.
Niger has been forced to cut its budget by 40% over the impact of sanctions and suspension of aid after the 26 July coup.
There are fears that the sanctions may worsen the economic situation in Niger - one of the world’s poorest countries.
The military junta announced a 2023 budget cut from $5.3bn to $3.2bn, although details of the cuts are lacking.
At least 40% of the West African country's budget support this year was expected to come from external partners.
The import-dependent country has recorded soaring food and commodity prices and a limited supply of medicines, owing to trade restrictions.
Niger has been forced to cut its budget by 40% over the impact of sanctions and suspension of aid after the 26 July coup.
There are fears that the sanctions may worsen the economic situation in Niger - one of the world’s poorest countries.
The military junta announced a 2023 budget cut from $5.3bn to $3.2bn, although details of the cuts are lacking.
At least 40% of the West African country's budget support this year was expected to come from external partners.
The import-dependent country has recorded soaring food and commodity prices and a limited supply of medicines, owing to trade restrictions.
Niger has been forced to cut its budget by 40% over the impact of sanctions and suspension of aid after the 26 July coup.
There are fears that the sanctions may worsen the economic situation in Niger - one of the world’s poorest countries.
The military junta announced a 2023 budget cut from $5.3bn to $3.2bn, although details of the cuts are lacking.
At least 40% of the West African country's budget support this year was expected to come from external partners.
The import-dependent country has recorded soaring food and commodity prices and a limited supply of medicines, owing to trade restrictions.
The Federal Government will restart the Tradermoni scheme in November with each beneficiary getting N50,000 to support their business.
The Minister of Humanitarian Affairs and Poverty Alleviation Mrs Betta Edu says the government is set to relaunch it while the interest-free loan scheme for traders has been on hold for some time.
She says it is a one-off interest-free loan with those who repay qualifying for another loan.
The Federal Government will restart the Tradermoni scheme in November with each beneficiary getting N50,000 to support their business.
The Minister of Humanitarian Affairs and Poverty Alleviation Mrs Betta Edu says the government is set to relaunch it while the interest-free loan scheme for traders has been on hold for some time.
She says it is a one-off interest-free loan with those who repay qualifying for another loan.
The Federal Government will restart the Tradermoni scheme in November with each beneficiary getting N50,000 to support their business.
The Minister of Humanitarian Affairs and Poverty Alleviation Mrs Betta Edu says the government is set to relaunch it while the interest-free loan scheme for traders has been on hold for some time.
She says it is a one-off interest-free loan with those who repay qualifying for another loan.
The Federal Government will restart the Tradermoni scheme in November with each beneficiary getting N50,000 to support their business.
The Minister of Humanitarian Affairs and Poverty Alleviation Mrs Betta Edu says the government is set to relaunch it while the interest-free loan scheme for traders has been on hold for some time.
She says it is a one-off interest-free loan with those who repay qualifying for another loan.
The Federal Government will restart the Tradermoni scheme in November with each beneficiary getting N50,000 to support their business.
The Minister of Humanitarian Affairs and Poverty Alleviation Mrs Betta Edu says the government is set to relaunch it while the interest-free loan scheme for traders has been on hold for some time.
She says it is a one-off interest-free loan with those who repay qualifying for another loan.
The Federal Government will restart the Tradermoni scheme in November with each beneficiary getting N50,000 to support their business.
The Minister of Humanitarian Affairs and Poverty Alleviation Mrs Betta Edu says the government is set to relaunch it while the interest-free loan scheme for traders has been on hold for some time.
She says it is a one-off interest-free loan with those who repay qualifying for another loan.
The National Bureau of Statistics says Nigeria relied on foreign borrowing to boost its capital importation in the first six months of 2023.
The National Bureau of Statistics on Nigeria Capital Importation says in 2023, total capital importation dropped by 30.42 per cent year-on-year in the first half of 2023 to $2.16bn from $3.11bn, from the corresponding period of 2022.
Foreign investments in the forms of loans grew by 17.43 per cent to $1.21bn in the first half of 2023 from $1.03bn as of the corresponding period of 2022.
The NBS says in Q2 2023, other investments accounted for 81.28 per cent of total capital importation in Q2 2023, followed by Portfolio Investment with 10.37 per cent and Foreign Direct Investment with 8.35 per cent.
The National Bureau of Statistics says Nigeria relied on foreign borrowing to boost its capital importation in the first six months of 2023.
The National Bureau of Statistics on Nigeria Capital Importation says in 2023, total capital importation dropped by 30.42 per cent year-on-year in the first half of 2023 to $2.16bn from $3.11bn, from the corresponding period of 2022.
Foreign investments in the forms of loans grew by 17.43 per cent to $1.21bn in the first half of 2023 from $1.03bn as of the corresponding period of 2022.
The NBS says in Q2 2023, other investments accounted for 81.28 per cent of total capital importation in Q2 2023, followed by Portfolio Investment with 10.37 per cent and Foreign Direct Investment with 8.35 per cent.
The National Bureau of Statistics says Nigeria relied on foreign borrowing to boost its capital importation in the first six months of 2023.
The National Bureau of Statistics on Nigeria Capital Importation says in 2023, total capital importation dropped by 30.42 per cent year-on-year in the first half of 2023 to $2.16bn from $3.11bn, from the corresponding period of 2022.
Foreign investments in the forms of loans grew by 17.43 per cent to $1.21bn in the first half of 2023 from $1.03bn as of the corresponding period of 2022.
The NBS says in Q2 2023, other investments accounted for 81.28 per cent of total capital importation in Q2 2023, followed by Portfolio Investment with 10.37 per cent and Foreign Direct Investment with 8.35 per cent.
The National Bureau of Statistics says Nigeria relied on foreign borrowing to boost its capital importation in the first six months of 2023.
The National Bureau of Statistics on Nigeria Capital Importation says in 2023, total capital importation dropped by 30.42 per cent year-on-year in the first half of 2023 to $2.16bn from $3.11bn, from the corresponding period of 2022.
Foreign investments in the forms of loans grew by 17.43 per cent to $1.21bn in the first half of 2023 from $1.03bn as of the corresponding period of 2022.
The NBS says in Q2 2023, other investments accounted for 81.28 per cent of total capital importation in Q2 2023, followed by Portfolio Investment with 10.37 per cent and Foreign Direct Investment with 8.35 per cent.
The National Bureau of Statistics says Nigeria relied on foreign borrowing to boost its capital importation in the first six months of 2023.
The National Bureau of Statistics on Nigeria Capital Importation says in 2023, total capital importation dropped by 30.42 per cent year-on-year in the first half of 2023 to $2.16bn from $3.11bn, from the corresponding period of 2022.
Foreign investments in the forms of loans grew by 17.43 per cent to $1.21bn in the first half of 2023 from $1.03bn as of the corresponding period of 2022.
The NBS says in Q2 2023, other investments accounted for 81.28 per cent of total capital importation in Q2 2023, followed by Portfolio Investment with 10.37 per cent and Foreign Direct Investment with 8.35 per cent.
The National Bureau of Statistics says Nigeria relied on foreign borrowing to boost its capital importation in the first six months of 2023.
The National Bureau of Statistics on Nigeria Capital Importation says in 2023, total capital importation dropped by 30.42 per cent year-on-year in the first half of 2023 to $2.16bn from $3.11bn, from the corresponding period of 2022.
Foreign investments in the forms of loans grew by 17.43 per cent to $1.21bn in the first half of 2023 from $1.03bn as of the corresponding period of 2022.
The NBS says in Q2 2023, other investments accounted for 81.28 per cent of total capital importation in Q2 2023, followed by Portfolio Investment with 10.37 per cent and Foreign Direct Investment with 8.35 per cent.
The Federal Government has approved the appointment of doctors, nurses, and other clinical healthcare workers as contract staff after attaining their compulsory retirement age or years.
The government, however, said the appointed contract staff would be on the same salary scale level that they retired on if they desire and deserve it.
The government also says it was dissatisfied with health workers’ attitude to work, noting that in spite of efforts by the government to encourage health workers, the exodus of health workers had not abated.
The Federal Government has approved the appointment of doctors, nurses, and other clinical healthcare workers as contract staff after attaining their compulsory retirement age or years.
The government, however, said the appointed contract staff would be on the same salary scale level that they retired on if they desire and deserve it.
The government also says it was dissatisfied with health workers’ attitude to work, noting that in spite of efforts by the government to encourage health workers, the exodus of health workers had not abated.
The Federal Government has approved the appointment of doctors, nurses, and other clinical healthcare workers as contract staff after attaining their compulsory retirement age or years.
The government, however, said the appointed contract staff would be on the same salary scale level that they retired on if they desire and deserve it.
The government also says it was dissatisfied with health workers’ attitude to work, noting that in spite of efforts by the government to encourage health workers, the exodus of health workers had not abated.
The Federal Government has approved the appointment of doctors, nurses, and other clinical healthcare workers as contract staff after attaining their compulsory retirement age or years.
The government, however, said the appointed contract staff would be on the same salary scale level that they retired on if they desire and deserve it.
The government also says it was dissatisfied with health workers’ attitude to work, noting that in spite of efforts by the government to encourage health workers, the exodus of health workers had not abated.
The Federal Government has approved the appointment of doctors, nurses, and other clinical healthcare workers as contract staff after attaining their compulsory retirement age or years.
The government, however, said the appointed contract staff would be on the same salary scale level that they retired on if they desire and deserve it.
The government also says it was dissatisfied with health workers’ attitude to work, noting that in spite of efforts by the government to encourage health workers, the exodus of health workers had not abated.
The Federal Government has approved the appointment of doctors, nurses, and other clinical healthcare workers as contract staff after attaining their compulsory retirement age or years.
The government, however, said the appointed contract staff would be on the same salary scale level that they retired on if they desire and deserve it.
The government also says it was dissatisfied with health workers’ attitude to work, noting that in spite of efforts by the government to encourage health workers, the exodus of health workers had not abated.
The Minister of Humanitarian Affairs and Poverty Alleviation Betta Edu says the Federal Government will launch the conditional cash transfer policy for 15 million households on October 17th, 2023.
She says the ministry is working with stakeholders across the country to get a credible register of beneficiaries.
She says there is an ongoing verification exercise while adding that it is to make sure those who are on the national social register truly are Nigerians who fall within the under $1.95 a day range and they deserve to have it.
The Minister of Humanitarian Affairs and Poverty Alleviation Betta Edu says the Federal Government will launch the conditional cash transfer policy for 15 million households on October 17th, 2023.
She says the ministry is working with stakeholders across the country to get a credible register of beneficiaries.
She says there is an ongoing verification exercise while adding that it is to make sure those who are on the national social register truly are Nigerians who fall within the under $1.95 a day range and they deserve to have it.
The Minister of Humanitarian Affairs and Poverty Alleviation Betta Edu says the Federal Government will launch the conditional cash transfer policy for 15 million households on October 17th, 2023.
She says the ministry is working with stakeholders across the country to get a credible register of beneficiaries.
She says there is an ongoing verification exercise while adding that it is to make sure those who are on the national social register truly are Nigerians who fall within the under $1.95 a day range and they deserve to have it.
The Minister of Humanitarian Affairs and Poverty Alleviation Betta Edu says the Federal Government will launch the conditional cash transfer policy for 15 million households on October 17th, 2023.
She says the ministry is working with stakeholders across the country to get a credible register of beneficiaries.
She says there is an ongoing verification exercise while adding that it is to make sure those who are on the national social register truly are Nigerians who fall within the under $1.95 a day range and they deserve to have it.
The Minister of Humanitarian Affairs and Poverty Alleviation Betta Edu says the Federal Government will launch the conditional cash transfer policy for 15 million households on October 17th, 2023.
She says the ministry is working with stakeholders across the country to get a credible register of beneficiaries.
She says there is an ongoing verification exercise while adding that it is to make sure those who are on the national social register truly are Nigerians who fall within the under $1.95 a day range and they deserve to have it.
The Minister of Humanitarian Affairs and Poverty Alleviation Betta Edu says the Federal Government will launch the conditional cash transfer policy for 15 million households on October 17th, 2023.
She says the ministry is working with stakeholders across the country to get a credible register of beneficiaries.
She says there is an ongoing verification exercise while adding that it is to make sure those who are on the national social register truly are Nigerians who fall within the under $1.95 a day range and they deserve to have it.
The United States has announced it will impose visa restrictions on anyone who undermines elections in Liberia.
It says the move targeted those undermining democracy in Liberia, including through manipulation or rigging of the electoral process, use of violence or engagement in any other activity designed to improperly influence the outcome of an election.
The State Department says the policy reflected a commitment to support Liberians in their desire to have a free and fair vote.
The United States has announced it will impose visa restrictions on anyone who undermines elections in Liberia.
It says the move targeted those undermining democracy in Liberia, including through manipulation or rigging of the electoral process, use of violence or engagement in any other activity designed to improperly influence the outcome of an election.
The State Department says the policy reflected a commitment to support Liberians in their desire to have a free and fair vote.
The United States has announced it will impose visa restrictions on anyone who undermines elections in Liberia.
It says the move targeted those undermining democracy in Liberia, including through manipulation or rigging of the electoral process, use of violence or engagement in any other activity designed to improperly influence the outcome of an election.
The State Department says the policy reflected a commitment to support Liberians in their desire to have a free and fair vote.
The United States has announced it will impose visa restrictions on anyone who undermines elections in Liberia.
It says the move targeted those undermining democracy in Liberia, including through manipulation or rigging of the electoral process, use of violence or engagement in any other activity designed to improperly influence the outcome of an election.
The State Department says the policy reflected a commitment to support Liberians in their desire to have a free and fair vote.
The United States has announced it will impose visa restrictions on anyone who undermines elections in Liberia.
It says the move targeted those undermining democracy in Liberia, including through manipulation or rigging of the electoral process, use of violence or engagement in any other activity designed to improperly influence the outcome of an election.
The State Department says the policy reflected a commitment to support Liberians in their desire to have a free and fair vote.
The United States has announced it will impose visa restrictions on anyone who undermines elections in Liberia.
It says the move targeted those undermining democracy in Liberia, including through manipulation or rigging of the electoral process, use of violence or engagement in any other activity designed to improperly influence the outcome of an election.
The State Department says the policy reflected a commitment to support Liberians in their desire to have a free and fair vote.
The Confederation of African Football has announced that Morocco will host the 2025 Africa Cup of Nations.
A joint East African bid from Kenya, Uganda and Tanzania has also won the rights to hold the 2027 tournament.
Morocco replaced Guinea, who was stripped of the tournament in October last year because of concerns about infrastructure and facilities.
Morocco is jointly bidding for the 2030 World Cup with Spain and Portugal.
Patrice Motsepe, president of organisers CAF, says all of the options for both tournaments would have made Africa proud.
He added the decisions had been based on the level of infrastructure made available by bids, including facilities, accommodation and hospitals.
The Confederation of African Football has announced that Morocco will host the 2025 Africa Cup of Nations.
A joint East African bid from Kenya, Uganda and Tanzania has also won the rights to hold the 2027 tournament.
Morocco replaced Guinea, who was stripped of the tournament in October last year because of concerns about infrastructure and facilities.
Morocco is jointly bidding for the 2030 World Cup with Spain and Portugal.
Patrice Motsepe, president of organisers CAF, says all of the options for both tournaments would have made Africa proud.
He added the decisions had been based on the level of infrastructure made available by bids, including facilities, accommodation and hospitals.
The Confederation of African Football has announced that Morocco will host the 2025 Africa Cup of Nations.
A joint East African bid from Kenya, Uganda and Tanzania has also won the rights to hold the 2027 tournament.
Morocco replaced Guinea, who was stripped of the tournament in October last year because of concerns about infrastructure and facilities.
Morocco is jointly bidding for the 2030 World Cup with Spain and Portugal.
Patrice Motsepe, president of organisers CAF, says all of the options for both tournaments would have made Africa proud.
He added the decisions had been based on the level of infrastructure made available by bids, including facilities, accommodation and hospitals.
The Confederation of African Football has announced that Morocco will host the 2025 Africa Cup of Nations.
A joint East African bid from Kenya, Uganda and Tanzania has also won the rights to hold the 2027 tournament.
Morocco replaced Guinea, who was stripped of the tournament in October last year because of concerns about infrastructure and facilities.
Morocco is jointly bidding for the 2030 World Cup with Spain and Portugal.
Patrice Motsepe, president of organisers CAF, says all of the options for both tournaments would have made Africa proud.
He added the decisions had been based on the level of infrastructure made available by bids, including facilities, accommodation and hospitals.
The Confederation of African Football has announced that Morocco will host the 2025 Africa Cup of Nations.
A joint East African bid from Kenya, Uganda and Tanzania has also won the rights to hold the 2027 tournament.
Morocco replaced Guinea, who was stripped of the tournament in October last year because of concerns about infrastructure and facilities.
Morocco is jointly bidding for the 2030 World Cup with Spain and Portugal.
Patrice Motsepe, president of organisers CAF, says all of the options for both tournaments would have made Africa proud.
He added the decisions had been based on the level of infrastructure made available by bids, including facilities, accommodation and hospitals.
The Confederation of African Football has announced that Morocco will host the 2025 Africa Cup of Nations.
A joint East African bid from Kenya, Uganda and Tanzania has also won the rights to hold the 2027 tournament.
Morocco replaced Guinea, who was stripped of the tournament in October last year because of concerns about infrastructure and facilities.
Morocco is jointly bidding for the 2030 World Cup with Spain and Portugal.
Patrice Motsepe, president of organisers CAF, says all of the options for both tournaments would have made Africa proud.
He added the decisions had been based on the level of infrastructure made available by bids, including facilities, accommodation and hospitals.
North Korea’s parliament has unanimously moved to enshrine its nuclear programme in the country’s constitution.
The state news agency KCNA explained that the new constitutional amendment would establish North Korea’s pursuit of a nuclear force as the basic law of the state.
Kim called to accelerate the modernisation of nuclear weapons in order to hold the definite edge of strategic deterrence” against perceived threats, like the United States and South Korea.
Kim says the North Korean nuclear force-building policy has been made permanent as the basic law of the state, which no one is allowed to flout with anything.
North Korea’s parliament has unanimously moved to enshrine its nuclear programme in the country’s constitution.
The state news agency KCNA explained that the new constitutional amendment would establish North Korea’s pursuit of a nuclear force as the basic law of the state.
Kim called to accelerate the modernisation of nuclear weapons in order to hold the definite edge of strategic deterrence” against perceived threats, like the United States and South Korea.
Kim says the North Korean nuclear force-building policy has been made permanent as the basic law of the state, which no one is allowed to flout with anything.
North Korea’s parliament has unanimously moved to enshrine its nuclear programme in the country’s constitution.
The state news agency KCNA explained that the new constitutional amendment would establish North Korea’s pursuit of a nuclear force as the basic law of the state.
Kim called to accelerate the modernisation of nuclear weapons in order to hold the definite edge of strategic deterrence” against perceived threats, like the United States and South Korea.
Kim says the North Korean nuclear force-building policy has been made permanent as the basic law of the state, which no one is allowed to flout with anything.
North Korea’s parliament has unanimously moved to enshrine its nuclear programme in the country’s constitution.
The state news agency KCNA explained that the new constitutional amendment would establish North Korea’s pursuit of a nuclear force as the basic law of the state.
Kim called to accelerate the modernisation of nuclear weapons in order to hold the definite edge of strategic deterrence” against perceived threats, like the United States and South Korea.
Kim says the North Korean nuclear force-building policy has been made permanent as the basic law of the state, which no one is allowed to flout with anything.
North Korea’s parliament has unanimously moved to enshrine its nuclear programme in the country’s constitution.
The state news agency KCNA explained that the new constitutional amendment would establish North Korea’s pursuit of a nuclear force as the basic law of the state.
Kim called to accelerate the modernisation of nuclear weapons in order to hold the definite edge of strategic deterrence” against perceived threats, like the United States and South Korea.
Kim says the North Korean nuclear force-building policy has been made permanent as the basic law of the state, which no one is allowed to flout with anything.
North Korea’s parliament has unanimously moved to enshrine its nuclear programme in the country’s constitution.
The state news agency KCNA explained that the new constitutional amendment would establish North Korea’s pursuit of a nuclear force as the basic law of the state.
Kim called to accelerate the modernisation of nuclear weapons in order to hold the definite edge of strategic deterrence” against perceived threats, like the United States and South Korea.
Kim says the North Korean nuclear force-building policy has been made permanent as the basic law of the state, which no one is allowed to flout with anything.
The United Kingdom has awarded three UK companies a 4 billion pound contract to design and manufacture a nuclear-powered attack submarine as part of the country’s AUKUS programme with Australia and the United States.
The UK Ministry of Defence, says the contract with BAE Systems, Rolls-Royce and Babcock represents a significant milestone for both the UK and the trilateral AUKUS programme as a whole.
The new submarines, known as SSN-AUKUS, will be the largest, most advanced and most powerful attack submarines ever operated” by the Royal Navy and will combine world-leading sensors, design and weaponry in one vessel.
The first of the submarines will be delivered into service in the UK in the late 2030s and the first Australian ones will follow in the early 2040s.
The United Kingdom has awarded three UK companies a 4 billion pound contract to design and manufacture a nuclear-powered attack submarine as part of the country’s AUKUS programme with Australia and the United States.
The UK Ministry of Defence, says the contract with BAE Systems, Rolls-Royce and Babcock represents a significant milestone for both the UK and the trilateral AUKUS programme as a whole.
The new submarines, known as SSN-AUKUS, will be the largest, most advanced and most powerful attack submarines ever operated” by the Royal Navy and will combine world-leading sensors, design and weaponry in one vessel.
The first of the submarines will be delivered into service in the UK in the late 2030s and the first Australian ones will follow in the early 2040s.
The United Kingdom has awarded three UK companies a 4 billion pound contract to design and manufacture a nuclear-powered attack submarine as part of the country’s AUKUS programme with Australia and the United States.
The UK Ministry of Defence, says the contract with BAE Systems, Rolls-Royce and Babcock represents a significant milestone for both the UK and the trilateral AUKUS programme as a whole.
The new submarines, known as SSN-AUKUS, will be the largest, most advanced and most powerful attack submarines ever operated” by the Royal Navy and will combine world-leading sensors, design and weaponry in one vessel.
The first of the submarines will be delivered into service in the UK in the late 2030s and the first Australian ones will follow in the early 2040s.
The United Kingdom has awarded three UK companies a 4 billion pound contract to design and manufacture a nuclear-powered attack submarine as part of the country’s AUKUS programme with Australia and the United States.
The UK Ministry of Defence, says the contract with BAE Systems, Rolls-Royce and Babcock represents a significant milestone for both the UK and the trilateral AUKUS programme as a whole.
The new submarines, known as SSN-AUKUS, will be the largest, most advanced and most powerful attack submarines ever operated” by the Royal Navy and will combine world-leading sensors, design and weaponry in one vessel.
The first of the submarines will be delivered into service in the UK in the late 2030s and the first Australian ones will follow in the early 2040s.
The United Kingdom has awarded three UK companies a 4 billion pound contract to design and manufacture a nuclear-powered attack submarine as part of the country’s AUKUS programme with Australia and the United States.
The UK Ministry of Defence, says the contract with BAE Systems, Rolls-Royce and Babcock represents a significant milestone for both the UK and the trilateral AUKUS programme as a whole.
The new submarines, known as SSN-AUKUS, will be the largest, most advanced and most powerful attack submarines ever operated” by the Royal Navy and will combine world-leading sensors, design and weaponry in one vessel.
The first of the submarines will be delivered into service in the UK in the late 2030s and the first Australian ones will follow in the early 2040s.
The United Kingdom has awarded three UK companies a 4 billion pound contract to design and manufacture a nuclear-powered attack submarine as part of the country’s AUKUS programme with Australia and the United States.
The UK Ministry of Defence, says the contract with BAE Systems, Rolls-Royce and Babcock represents a significant milestone for both the UK and the trilateral AUKUS programme as a whole.
The new submarines, known as SSN-AUKUS, will be the largest, most advanced and most powerful attack submarines ever operated” by the Royal Navy and will combine world-leading sensors, design and weaponry in one vessel.
The first of the submarines will be delivered into service in the UK in the late 2030s and the first Australian ones will follow in the early 2040s.
Indonesia has inaugurated its first high-speed railway, a $7.3bn project backed by China under its Belt and Road Initiative.
President Joko Widodo launched the service, which connects the capital Jakarta to Bandung, a top economic hub.
The railway is named Whoosh, a Bahasa Indonesia acronym that translates to time-saving and reliable.
The railway was originally scheduled to open in 2019 but was delayed due to land disputes, the Covid-19 pandemic and a $1.2bn (£984m) budget overrun.
Indonesia has inaugurated its first high-speed railway, a $7.3bn project backed by China under its Belt and Road Initiative.
President Joko Widodo launched the service, which connects the capital Jakarta to Bandung, a top economic hub.
The railway is named Whoosh, a Bahasa Indonesia acronym that translates to time-saving and reliable.
The railway was originally scheduled to open in 2019 but was delayed due to land disputes, the Covid-19 pandemic and a $1.2bn (£984m) budget overrun.
Indonesia has inaugurated its first high-speed railway, a $7.3bn project backed by China under its Belt and Road Initiative.
President Joko Widodo launched the service, which connects the capital Jakarta to Bandung, a top economic hub.
The railway is named Whoosh, a Bahasa Indonesia acronym that translates to time-saving and reliable.
The railway was originally scheduled to open in 2019 but was delayed due to land disputes, the Covid-19 pandemic and a $1.2bn (£984m) budget overrun.
Indonesia has inaugurated its first high-speed railway, a $7.3bn project backed by China under its Belt and Road Initiative.
President Joko Widodo launched the service, which connects the capital Jakarta to Bandung, a top economic hub.
The railway is named Whoosh, a Bahasa Indonesia acronym that translates to time-saving and reliable.
The railway was originally scheduled to open in 2019 but was delayed due to land disputes, the Covid-19 pandemic and a $1.2bn (£984m) budget overrun.
Indonesia has inaugurated its first high-speed railway, a $7.3bn project backed by China under its Belt and Road Initiative.
President Joko Widodo launched the service, which connects the capital Jakarta to Bandung, a top economic hub.
The railway is named Whoosh, a Bahasa Indonesia acronym that translates to time-saving and reliable.
The railway was originally scheduled to open in 2019 but was delayed due to land disputes, the Covid-19 pandemic and a $1.2bn (£984m) budget overrun.
Indonesia has inaugurated its first high-speed railway, a $7.3bn project backed by China under its Belt and Road Initiative.
President Joko Widodo launched the service, which connects the capital Jakarta to Bandung, a top economic hub.
The railway is named Whoosh, a Bahasa Indonesia acronym that translates to time-saving and reliable.
The railway was originally scheduled to open in 2019 but was delayed due to land disputes, the Covid-19 pandemic and a $1.2bn (£984m) budget overrun.
The Nigerian and United States governments have signed a Proliferation Resistance Optimization statement on supporting Nigeria in the design, construction and commissioning processes of Nigeria’s Multipurpose Research Reactor.
The PRO-X statement was signed by the Nigeria Atomic Energy Commission and the US National Nuclear Security Administration (NNSA).
The NNSA says the PRO-X programme reduces nuclear risks by supporting research by helping international partners design new research reactors and facilities that reduce the production of dangerous nuclear material while optimising reactor performance.
The Nigerian and United States governments have signed a Proliferation Resistance Optimization statement on supporting Nigeria in the design, construction and commissioning processes of Nigeria’s Multipurpose Research Reactor.
The PRO-X statement was signed by the Nigeria Atomic Energy Commission and the US National Nuclear Security Administration (NNSA).
The NNSA says the PRO-X programme reduces nuclear risks by supporting research by helping international partners design new research reactors and facilities that reduce the production of dangerous nuclear material while optimising reactor performance.
The Nigerian and United States governments have signed a Proliferation Resistance Optimization statement on supporting Nigeria in the design, construction and commissioning processes of Nigeria’s Multipurpose Research Reactor.
The PRO-X statement was signed by the Nigeria Atomic Energy Commission and the US National Nuclear Security Administration (NNSA).
The NNSA says the PRO-X programme reduces nuclear risks by supporting research by helping international partners design new research reactors and facilities that reduce the production of dangerous nuclear material while optimising reactor performance.
The Nigerian and United States governments have signed a Proliferation Resistance Optimization statement on supporting Nigeria in the design, construction and commissioning processes of Nigeria’s Multipurpose Research Reactor.
The PRO-X statement was signed by the Nigeria Atomic Energy Commission and the US National Nuclear Security Administration (NNSA).
The NNSA says the PRO-X programme reduces nuclear risks by supporting research by helping international partners design new research reactors and facilities that reduce the production of dangerous nuclear material while optimising reactor performance.
The Nigerian and United States governments have signed a Proliferation Resistance Optimization statement on supporting Nigeria in the design, construction and commissioning processes of Nigeria’s Multipurpose Research Reactor.
The PRO-X statement was signed by the Nigeria Atomic Energy Commission and the US National Nuclear Security Administration (NNSA).
The NNSA says the PRO-X programme reduces nuclear risks by supporting research by helping international partners design new research reactors and facilities that reduce the production of dangerous nuclear material while optimising reactor performance.
The Nigerian and United States governments have signed a Proliferation Resistance Optimization statement on supporting Nigeria in the design, construction and commissioning processes of Nigeria’s Multipurpose Research Reactor.
The PRO-X statement was signed by the Nigeria Atomic Energy Commission and the US National Nuclear Security Administration (NNSA).
The NNSA says the PRO-X programme reduces nuclear risks by supporting research by helping international partners design new research reactors and facilities that reduce the production of dangerous nuclear material while optimising reactor performance.
Nigeria has set a plan to help startups raise their total yearly funding rounds to $5bn by 2027.
The Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani highlighted that in today’s global technology landscape, innovation, entrepreneurship, and access to capital are critical components of a strong digital economy.
He stated that the primary objective of the ministry as regards this will be to stimulate the growth and sustainability of startups, with a specific focus on those developing innovative solutions for critical sectors of the economy.
He added that increase capital raised by Nigerian tech startups 50 per cent year-on-year from ~$1bn/yr in 2022 to $5bn/yr in 2027.”
Nigeria has set a plan to help startups raise their total yearly funding rounds to $5bn by 2027.
The Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani highlighted that in today’s global technology landscape, innovation, entrepreneurship, and access to capital are critical components of a strong digital economy.
He stated that the primary objective of the ministry as regards this will be to stimulate the growth and sustainability of startups, with a specific focus on those developing innovative solutions for critical sectors of the economy.
He added that increase capital raised by Nigerian tech startups 50 per cent year-on-year from ~$1bn/yr in 2022 to $5bn/yr in 2027.”
Nigeria has set a plan to help startups raise their total yearly funding rounds to $5bn by 2027.
The Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani highlighted that in today’s global technology landscape, innovation, entrepreneurship, and access to capital are critical components of a strong digital economy.
He stated that the primary objective of the ministry as regards this will be to stimulate the growth and sustainability of startups, with a specific focus on those developing innovative solutions for critical sectors of the economy.
He added that increase capital raised by Nigerian tech startups 50 per cent year-on-year from ~$1bn/yr in 2022 to $5bn/yr in 2027.”
Nigeria has set a plan to help startups raise their total yearly funding rounds to $5bn by 2027.
The Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani highlighted that in today’s global technology landscape, innovation, entrepreneurship, and access to capital are critical components of a strong digital economy.
He stated that the primary objective of the ministry as regards this will be to stimulate the growth and sustainability of startups, with a specific focus on those developing innovative solutions for critical sectors of the economy.
He added that increase capital raised by Nigerian tech startups 50 per cent year-on-year from ~$1bn/yr in 2022 to $5bn/yr in 2027.”
Nigeria has set a plan to help startups raise their total yearly funding rounds to $5bn by 2027.
The Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani highlighted that in today’s global technology landscape, innovation, entrepreneurship, and access to capital are critical components of a strong digital economy.
He stated that the primary objective of the ministry as regards this will be to stimulate the growth and sustainability of startups, with a specific focus on those developing innovative solutions for critical sectors of the economy.
He added that increase capital raised by Nigerian tech startups 50 per cent year-on-year from ~$1bn/yr in 2022 to $5bn/yr in 2027.”
Nigeria has set a plan to help startups raise their total yearly funding rounds to $5bn by 2027.
The Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani highlighted that in today’s global technology landscape, innovation, entrepreneurship, and access to capital are critical components of a strong digital economy.
He stated that the primary objective of the ministry as regards this will be to stimulate the growth and sustainability of startups, with a specific focus on those developing innovative solutions for critical sectors of the economy.
He added that increase capital raised by Nigerian tech startups 50 per cent year-on-year from ~$1bn/yr in 2022 to $5bn/yr in 2027.”
India has stopped issuing visas to Canadian citizens amid an escalating row over the killing of a Sikh separatist on Canadian soil.
India says the temporary move was due to security threats disrupting work at its missions in Canada.
Tensions flared this week after Prime Minister Justin Trudeau said India may have been behind the 18 June killing.
Mr Trudeau says Canada was not looking to provoke India or cause problems with the allegation but is unequivocal about the importance of the rule of law and protecting Canadians.
India's government also made clear the suspension of visa services also applies to Canadians in a third country.
India has stopped issuing visas to Canadian citizens amid an escalating row over the killing of a Sikh separatist on Canadian soil.
India says the temporary move was due to security threats disrupting work at its missions in Canada.
Tensions flared this week after Prime Minister Justin Trudeau said India may have been behind the 18 June killing.
Mr Trudeau says Canada was not looking to provoke India or cause problems with the allegation but is unequivocal about the importance of the rule of law and protecting Canadians.
India's government also made clear the suspension of visa services also applies to Canadians in a third country.
India has stopped issuing visas to Canadian citizens amid an escalating row over the killing of a Sikh separatist on Canadian soil.
India says the temporary move was due to security threats disrupting work at its missions in Canada.
Tensions flared this week after Prime Minister Justin Trudeau said India may have been behind the 18 June killing.
Mr Trudeau says Canada was not looking to provoke India or cause problems with the allegation but is unequivocal about the importance of the rule of law and protecting Canadians.
India's government also made clear the suspension of visa services also applies to Canadians in a third country.
India has stopped issuing visas to Canadian citizens amid an escalating row over the killing of a Sikh separatist on Canadian soil.
India says the temporary move was due to security threats disrupting work at its missions in Canada.
Tensions flared this week after Prime Minister Justin Trudeau said India may have been behind the 18 June killing.
Mr Trudeau says Canada was not looking to provoke India or cause problems with the allegation but is unequivocal about the importance of the rule of law and protecting Canadians.
India's government also made clear the suspension of visa services also applies to Canadians in a third country.
India has stopped issuing visas to Canadian citizens amid an escalating row over the killing of a Sikh separatist on Canadian soil.
India says the temporary move was due to security threats disrupting work at its missions in Canada.
Tensions flared this week after Prime Minister Justin Trudeau said India may have been behind the 18 June killing.
Mr Trudeau says Canada was not looking to provoke India or cause problems with the allegation but is unequivocal about the importance of the rule of law and protecting Canadians.
India's government also made clear the suspension of visa services also applies to Canadians in a third country.
India has stopped issuing visas to Canadian citizens amid an escalating row over the killing of a Sikh separatist on Canadian soil.
India says the temporary move was due to security threats disrupting work at its missions in Canada.
Tensions flared this week after Prime Minister Justin Trudeau said India may have been behind the 18 June killing.
Mr Trudeau says Canada was not looking to provoke India or cause problems with the allegation but is unequivocal about the importance of the rule of law and protecting Canadians.
India's government also made clear the suspension of visa services also applies to Canadians in a third country.
The UK's competition watchdog says Microsoft's revised offer to buy the Call of Duty maker Activision Blizzard opens the door to the deal being cleared.
The Competition Markets Authority says the updated deal appeared to address concerns it had raised.
Under the new proposals, Microsoft will not buy the cloud gaming rights owned by Activision Blizzard. Its original $69bn deal was blocked by UK regulators.
Under the new offer, Microsoft agreed to transfer the rights to stream Activision games from the cloud to the French video games publisher Ubisoft for 15 years.
The UK's competition watchdog says Microsoft's revised offer to buy the Call of Duty maker Activision Blizzard opens the door to the deal being cleared.
The Competition Markets Authority says the updated deal appeared to address concerns it had raised.
Under the new proposals, Microsoft will not buy the cloud gaming rights owned by Activision Blizzard. Its original $69bn deal was blocked by UK regulators.
Under the new offer, Microsoft agreed to transfer the rights to stream Activision games from the cloud to the French video games publisher Ubisoft for 15 years.
The UK's competition watchdog says Microsoft's revised offer to buy the Call of Duty maker Activision Blizzard opens the door to the deal being cleared.
The Competition Markets Authority says the updated deal appeared to address concerns it had raised.
Under the new proposals, Microsoft will not buy the cloud gaming rights owned by Activision Blizzard. Its original $69bn deal was blocked by UK regulators.
Under the new offer, Microsoft agreed to transfer the rights to stream Activision games from the cloud to the French video games publisher Ubisoft for 15 years.
The UK's competition watchdog says Microsoft's revised offer to buy the Call of Duty maker Activision Blizzard opens the door to the deal being cleared.
The Competition Markets Authority says the updated deal appeared to address concerns it had raised.
Under the new proposals, Microsoft will not buy the cloud gaming rights owned by Activision Blizzard. Its original $69bn deal was blocked by UK regulators.
Under the new offer, Microsoft agreed to transfer the rights to stream Activision games from the cloud to the French video games publisher Ubisoft for 15 years.
The UK's competition watchdog says Microsoft's revised offer to buy the Call of Duty maker Activision Blizzard opens the door to the deal being cleared.
The Competition Markets Authority says the updated deal appeared to address concerns it had raised.
Under the new proposals, Microsoft will not buy the cloud gaming rights owned by Activision Blizzard. Its original $69bn deal was blocked by UK regulators.
Under the new offer, Microsoft agreed to transfer the rights to stream Activision games from the cloud to the French video games publisher Ubisoft for 15 years.
The UK's competition watchdog says Microsoft's revised offer to buy the Call of Duty maker Activision Blizzard opens the door to the deal being cleared.
The Competition Markets Authority says the updated deal appeared to address concerns it had raised.
Under the new proposals, Microsoft will not buy the cloud gaming rights owned by Activision Blizzard. Its original $69bn deal was blocked by UK regulators.
Under the new offer, Microsoft agreed to transfer the rights to stream Activision games from the cloud to the French video games publisher Ubisoft for 15 years.
Hollywood’s writers' union says it has reached a preliminary labour agreement with the industry’s major studios in a deal to end one of two strikes that have halted most film and television production for nearly five months.
The Writers Guild of America announced the deal with the Alliance of Motion Picture and Television Producers, the group that represents studios, streaming services and producers in negotiations.
The three-year contract agreement – agreed to after five marathon days of renewed talks by negotiators between WGA and the AMPTP – must still be approved by the guild’s board and members before the strike can be declared officially over.
Hollywood’s writers' union says it has reached a preliminary labour agreement with the industry’s major studios in a deal to end one of two strikes that have halted most film and television production for nearly five months.
The Writers Guild of America announced the deal with the Alliance of Motion Picture and Television Producers, the group that represents studios, streaming services and producers in negotiations.
The three-year contract agreement – agreed to after five marathon days of renewed talks by negotiators between WGA and the AMPTP – must still be approved by the guild’s board and members before the strike can be declared officially over.
Hollywood’s writers' union says it has reached a preliminary labour agreement with the industry’s major studios in a deal to end one of two strikes that have halted most film and television production for nearly five months.
The Writers Guild of America announced the deal with the Alliance of Motion Picture and Television Producers, the group that represents studios, streaming services and producers in negotiations.
The three-year contract agreement – agreed to after five marathon days of renewed talks by negotiators between WGA and the AMPTP – must still be approved by the guild’s board and members before the strike can be declared officially over.
Hollywood’s writers' union says it has reached a preliminary labour agreement with the industry’s major studios in a deal to end one of two strikes that have halted most film and television production for nearly five months.
The Writers Guild of America announced the deal with the Alliance of Motion Picture and Television Producers, the group that represents studios, streaming services and producers in negotiations.
The three-year contract agreement – agreed to after five marathon days of renewed talks by negotiators between WGA and the AMPTP – must still be approved by the guild’s board and members before the strike can be declared officially over.
Hollywood’s writers' union says it has reached a preliminary labour agreement with the industry’s major studios in a deal to end one of two strikes that have halted most film and television production for nearly five months.
The Writers Guild of America announced the deal with the Alliance of Motion Picture and Television Producers, the group that represents studios, streaming services and producers in negotiations.
The three-year contract agreement – agreed to after five marathon days of renewed talks by negotiators between WGA and the AMPTP – must still be approved by the guild’s board and members before the strike can be declared officially over.
Hollywood’s writers' union says it has reached a preliminary labour agreement with the industry’s major studios in a deal to end one of two strikes that have halted most film and television production for nearly five months.
The Writers Guild of America announced the deal with the Alliance of Motion Picture and Television Producers, the group that represents studios, streaming services and producers in negotiations.
The three-year contract agreement – agreed to after five marathon days of renewed talks by negotiators between WGA and the AMPTP – must still be approved by the guild’s board and members before the strike can be declared officially over.
Kenya’s security minister, Kithure Kindiki, has issued a shoot-to-kill order against criminals who target law enforcement officers in the troubled northwest of the country.
Mr Kindiki reiterated the government's commitment to bring order to parts of the Rift Valley region that border South Sudan.
The directive was given a day after armed bandits killed three people in an attack.
For years, bandit attacks and cattle rustling have been a cause of instability in northwest Kenya.
Kenya’s security minister, Kithure Kindiki, has issued a shoot-to-kill order against criminals who target law enforcement officers in the troubled northwest of the country.
Mr Kindiki reiterated the government's commitment to bring order to parts of the Rift Valley region that border South Sudan.
The directive was given a day after armed bandits killed three people in an attack.
For years, bandit attacks and cattle rustling have been a cause of instability in northwest Kenya.
Kenya’s security minister, Kithure Kindiki, has issued a shoot-to-kill order against criminals who target law enforcement officers in the troubled northwest of the country.
Mr Kindiki reiterated the government's commitment to bring order to parts of the Rift Valley region that border South Sudan.
The directive was given a day after armed bandits killed three people in an attack.
For years, bandit attacks and cattle rustling have been a cause of instability in northwest Kenya.
Kenya’s security minister, Kithure Kindiki, has issued a shoot-to-kill order against criminals who target law enforcement officers in the troubled northwest of the country.
Mr Kindiki reiterated the government's commitment to bring order to parts of the Rift Valley region that border South Sudan.
The directive was given a day after armed bandits killed three people in an attack.
For years, bandit attacks and cattle rustling have been a cause of instability in northwest Kenya.
Kenya’s security minister, Kithure Kindiki, has issued a shoot-to-kill order against criminals who target law enforcement officers in the troubled northwest of the country.
Mr Kindiki reiterated the government's commitment to bring order to parts of the Rift Valley region that border South Sudan.
The directive was given a day after armed bandits killed three people in an attack.
For years, bandit attacks and cattle rustling have been a cause of instability in northwest Kenya.
Kenya’s security minister, Kithure Kindiki, has issued a shoot-to-kill order against criminals who target law enforcement officers in the troubled northwest of the country.
Mr Kindiki reiterated the government's commitment to bring order to parts of the Rift Valley region that border South Sudan.
The directive was given a day after armed bandits killed three people in an attack.
For years, bandit attacks and cattle rustling have been a cause of instability in northwest Kenya.
Niger's military rulers have banned French aircraft from entering the country's airspace.
The air safety agency, ASECNA, saysNiger's skies were open to all commercial flights, except for those belonging to or chartered by France.
Paris is a former colonial power and has around 1,500 troops in the country.
Niger reopened its airspace earlier this month, after closing it for nearly four weeks.
The West African nation says it had shut it down because of the threat of intervention from neighbouring countries.
Niger's military rulers have banned French aircraft from entering the country's airspace.
The air safety agency, ASECNA, saysNiger's skies were open to all commercial flights, except for those belonging to or chartered by France.
Paris is a former colonial power and has around 1,500 troops in the country.
Niger reopened its airspace earlier this month, after closing it for nearly four weeks.
The West African nation says it had shut it down because of the threat of intervention from neighbouring countries.
Niger's military rulers have banned French aircraft from entering the country's airspace.
The air safety agency, ASECNA, saysNiger's skies were open to all commercial flights, except for those belonging to or chartered by France.
Paris is a former colonial power and has around 1,500 troops in the country.
Niger reopened its airspace earlier this month, after closing it for nearly four weeks.
The West African nation says it had shut it down because of the threat of intervention from neighbouring countries.
Niger's military rulers have banned French aircraft from entering the country's airspace.
The air safety agency, ASECNA, saysNiger's skies were open to all commercial flights, except for those belonging to or chartered by France.
Paris is a former colonial power and has around 1,500 troops in the country.
Niger reopened its airspace earlier this month, after closing it for nearly four weeks.
The West African nation says it had shut it down because of the threat of intervention from neighbouring countries.
Niger's military rulers have banned French aircraft from entering the country's airspace.
The air safety agency, ASECNA, saysNiger's skies were open to all commercial flights, except for those belonging to or chartered by France.
Paris is a former colonial power and has around 1,500 troops in the country.
Niger reopened its airspace earlier this month, after closing it for nearly four weeks.
The West African nation says it had shut it down because of the threat of intervention from neighbouring countries.
Niger's military rulers have banned French aircraft from entering the country's airspace.
The air safety agency, ASECNA, saysNiger's skies were open to all commercial flights, except for those belonging to or chartered by France.
Paris is a former colonial power and has around 1,500 troops in the country.
Niger reopened its airspace earlier this month, after closing it for nearly four weeks.
The West African nation says it had shut it down because of the threat of intervention from neighbouring countries.
African governments have called on the UN Human Rights Council to terminate the mandate of a team of human rights experts on Ethiopia after the submission of its latest report earlier this week.
The expert panel says war crimes and crimes against humanity were still being committed despite the signing of a cessation of hostilities agreement officially ending the war in Tigray.
An Ethiopian delegate however accused the commission of failing to recognise the efforts of the government and engaging in defamatory rhetoric with questionable methodology.
African governments have called on the UN Human Rights Council to terminate the mandate of a team of human rights experts on Ethiopia after the submission of its latest report earlier this week.
The expert panel says war crimes and crimes against humanity were still being committed despite the signing of a cessation of hostilities agreement officially ending the war in Tigray.
An Ethiopian delegate however accused the commission of failing to recognise the efforts of the government and engaging in defamatory rhetoric with questionable methodology.
African governments have called on the UN Human Rights Council to terminate the mandate of a team of human rights experts on Ethiopia after the submission of its latest report earlier this week.
The expert panel says war crimes and crimes against humanity were still being committed despite the signing of a cessation of hostilities agreement officially ending the war in Tigray.
An Ethiopian delegate however accused the commission of failing to recognise the efforts of the government and engaging in defamatory rhetoric with questionable methodology.
African governments have called on the UN Human Rights Council to terminate the mandate of a team of human rights experts on Ethiopia after the submission of its latest report earlier this week.
The expert panel says war crimes and crimes against humanity were still being committed despite the signing of a cessation of hostilities agreement officially ending the war in Tigray.
An Ethiopian delegate however accused the commission of failing to recognise the efforts of the government and engaging in defamatory rhetoric with questionable methodology.
African governments have called on the UN Human Rights Council to terminate the mandate of a team of human rights experts on Ethiopia after the submission of its latest report earlier this week.
The expert panel says war crimes and crimes against humanity were still being committed despite the signing of a cessation of hostilities agreement officially ending the war in Tigray.
An Ethiopian delegate however accused the commission of failing to recognise the efforts of the government and engaging in defamatory rhetoric with questionable methodology.
African governments have called on the UN Human Rights Council to terminate the mandate of a team of human rights experts on Ethiopia after the submission of its latest report earlier this week.
The expert panel says war crimes and crimes against humanity were still being committed despite the signing of a cessation of hostilities agreement officially ending the war in Tigray.
An Ethiopian delegate however accused the commission of failing to recognise the efforts of the government and engaging in defamatory rhetoric with questionable methodology.
The Centre for the Promotion of Private Enterprise has called on the newly appointed Governor of the Central Bank of Nigeria, Olayemi Cardoso, to prioritise clearing the backlog of forex exchange obligations.
The Managing Director of CPPE, Muda Yusuf says the clearance of the backlog of forex obligations should be accorded high priority to restore the confidence of domestic and foreign investors.
He suggested that the newly appointed CBN management team should, in addition to the existing Investor and Exporter FX exchange window, create an autonomous window in the banking system where the currency can trade freely without any encumbrances.
The Centre for the Promotion of Private Enterprise has called on the newly appointed Governor of the Central Bank of Nigeria, Olayemi Cardoso, to prioritise clearing the backlog of forex exchange obligations.
The Managing Director of CPPE, Muda Yusuf says the clearance of the backlog of forex obligations should be accorded high priority to restore the confidence of domestic and foreign investors.
He suggested that the newly appointed CBN management team should, in addition to the existing Investor and Exporter FX exchange window, create an autonomous window in the banking system where the currency can trade freely without any encumbrances.
The Centre for the Promotion of Private Enterprise has called on the newly appointed Governor of the Central Bank of Nigeria, Olayemi Cardoso, to prioritise clearing the backlog of forex exchange obligations.
The Managing Director of CPPE, Muda Yusuf says the clearance of the backlog of forex obligations should be accorded high priority to restore the confidence of domestic and foreign investors.
He suggested that the newly appointed CBN management team should, in addition to the existing Investor and Exporter FX exchange window, create an autonomous window in the banking system where the currency can trade freely without any encumbrances.
The Centre for the Promotion of Private Enterprise has called on the newly appointed Governor of the Central Bank of Nigeria, Olayemi Cardoso, to prioritise clearing the backlog of forex exchange obligations.
The Managing Director of CPPE, Muda Yusuf says the clearance of the backlog of forex obligations should be accorded high priority to restore the confidence of domestic and foreign investors.
He suggested that the newly appointed CBN management team should, in addition to the existing Investor and Exporter FX exchange window, create an autonomous window in the banking system where the currency can trade freely without any encumbrances.
The Centre for the Promotion of Private Enterprise has called on the newly appointed Governor of the Central Bank of Nigeria, Olayemi Cardoso, to prioritise clearing the backlog of forex exchange obligations.
The Managing Director of CPPE, Muda Yusuf says the clearance of the backlog of forex obligations should be accorded high priority to restore the confidence of domestic and foreign investors.
He suggested that the newly appointed CBN management team should, in addition to the existing Investor and Exporter FX exchange window, create an autonomous window in the banking system where the currency can trade freely without any encumbrances.
The Centre for the Promotion of Private Enterprise has called on the newly appointed Governor of the Central Bank of Nigeria, Olayemi Cardoso, to prioritise clearing the backlog of forex exchange obligations.
The Managing Director of CPPE, Muda Yusuf says the clearance of the backlog of forex obligations should be accorded high priority to restore the confidence of domestic and foreign investors.
He suggested that the newly appointed CBN management team should, in addition to the existing Investor and Exporter FX exchange window, create an autonomous window in the banking system where the currency can trade freely without any encumbrances.
The Ogun Government is set to enact a law that will pronounce the death penalty on anyone caught engaging in cult activities in the state.
State governor, Dapo Abiodun expressed shock over the wanton destruction of lives and peace of Sagamu and its environs, warning that the government would not fold its arms and watch unscrupulous persons run riots in any part of the state.
He called on the Commissioner of Police, the Director of the State Service (DSS), the Commander of the Civil Defence, our Amotekun Commander and all our security architecture to relocate to Sagamu for this purpose.
The Ogun Government is set to enact a law that will pronounce the death penalty on anyone caught engaging in cult activities in the state.
State governor, Dapo Abiodun expressed shock over the wanton destruction of lives and peace of Sagamu and its environs, warning that the government would not fold its arms and watch unscrupulous persons run riots in any part of the state.
He called on the Commissioner of Police, the Director of the State Service (DSS), the Commander of the Civil Defence, our Amotekun Commander and all our security architecture to relocate to Sagamu for this purpose.
The Ogun Government is set to enact a law that will pronounce the death penalty on anyone caught engaging in cult activities in the state.
State governor, Dapo Abiodun expressed shock over the wanton destruction of lives and peace of Sagamu and its environs, warning that the government would not fold its arms and watch unscrupulous persons run riots in any part of the state.
He called on the Commissioner of Police, the Director of the State Service (DSS), the Commander of the Civil Defence, our Amotekun Commander and all our security architecture to relocate to Sagamu for this purpose.
The Ogun Government is set to enact a law that will pronounce the death penalty on anyone caught engaging in cult activities in the state.
State governor, Dapo Abiodun expressed shock over the wanton destruction of lives and peace of Sagamu and its environs, warning that the government would not fold its arms and watch unscrupulous persons run riots in any part of the state.
He called on the Commissioner of Police, the Director of the State Service (DSS), the Commander of the Civil Defence, our Amotekun Commander and all our security architecture to relocate to Sagamu for this purpose.
The Ogun Government is set to enact a law that will pronounce the death penalty on anyone caught engaging in cult activities in the state.
State governor, Dapo Abiodun expressed shock over the wanton destruction of lives and peace of Sagamu and its environs, warning that the government would not fold its arms and watch unscrupulous persons run riots in any part of the state.
He called on the Commissioner of Police, the Director of the State Service (DSS), the Commander of the Civil Defence, our Amotekun Commander and all our security architecture to relocate to Sagamu for this purpose.
The Ogun Government is set to enact a law that will pronounce the death penalty on anyone caught engaging in cult activities in the state.
State governor, Dapo Abiodun expressed shock over the wanton destruction of lives and peace of Sagamu and its environs, warning that the government would not fold its arms and watch unscrupulous persons run riots in any part of the state.
He called on the Commissioner of Police, the Director of the State Service (DSS), the Commander of the Civil Defence, our Amotekun Commander and all our security architecture to relocate to Sagamu for this purpose.
The Presidency says a Chinese construction company, China Civil Engineering Construction Corporation Ltd has committed to the completion of the Abuja light rail project in eight months.
The Senior Special Assistant to the President on Media and Communications, Stanley Nkwocha noted that the promise was in line with the determination of President Bola Tinubu’s administration to enhance infrastructure development across the country.
Vice President Shettima described CCECC as part of Nigeria’s history, saying the Chinese construction giant has played a pivotal role in developing Nigeria’s landmark projects, adding that their commitment to the development of Nigeria and Africa is commendable.
The Presidency says a Chinese construction company, China Civil Engineering Construction Corporation Ltd has committed to the completion of the Abuja light rail project in eight months.
The Senior Special Assistant to the President on Media and Communications, Stanley Nkwocha noted that the promise was in line with the determination of President Bola Tinubu’s administration to enhance infrastructure development across the country.
Vice President Shettima described CCECC as part of Nigeria’s history, saying the Chinese construction giant has played a pivotal role in developing Nigeria’s landmark projects, adding that their commitment to the development of Nigeria and Africa is commendable.
The Presidency says a Chinese construction company, China Civil Engineering Construction Corporation Ltd has committed to the completion of the Abuja light rail project in eight months.
The Senior Special Assistant to the President on Media and Communications, Stanley Nkwocha noted that the promise was in line with the determination of President Bola Tinubu’s administration to enhance infrastructure development across the country.
Vice President Shettima described CCECC as part of Nigeria’s history, saying the Chinese construction giant has played a pivotal role in developing Nigeria’s landmark projects, adding that their commitment to the development of Nigeria and Africa is commendable.
The Presidency says a Chinese construction company, China Civil Engineering Construction Corporation Ltd has committed to the completion of the Abuja light rail project in eight months.
The Senior Special Assistant to the President on Media and Communications, Stanley Nkwocha noted that the promise was in line with the determination of President Bola Tinubu’s administration to enhance infrastructure development across the country.
Vice President Shettima described CCECC as part of Nigeria’s history, saying the Chinese construction giant has played a pivotal role in developing Nigeria’s landmark projects, adding that their commitment to the development of Nigeria and Africa is commendable.
The Presidency says a Chinese construction company, China Civil Engineering Construction Corporation Ltd has committed to the completion of the Abuja light rail project in eight months.
The Senior Special Assistant to the President on Media and Communications, Stanley Nkwocha noted that the promise was in line with the determination of President Bola Tinubu’s administration to enhance infrastructure development across the country.
Vice President Shettima described CCECC as part of Nigeria’s history, saying the Chinese construction giant has played a pivotal role in developing Nigeria’s landmark projects, adding that their commitment to the development of Nigeria and Africa is commendable.
The Presidency says a Chinese construction company, China Civil Engineering Construction Corporation Ltd has committed to the completion of the Abuja light rail project in eight months.
The Senior Special Assistant to the President on Media and Communications, Stanley Nkwocha noted that the promise was in line with the determination of President Bola Tinubu’s administration to enhance infrastructure development across the country.
Vice President Shettima described CCECC as part of Nigeria’s history, saying the Chinese construction giant has played a pivotal role in developing Nigeria’s landmark projects, adding that their commitment to the development of Nigeria and Africa is commendable.
South Korean internet service provider SK Broadband and Netflix have announced they will end all lawsuits with each other following a dispute over whether Netflix should pay for costs from increased network traffic and maintenance work.
SK Broadband and parent SK Telecom in a joint statement with Netflix said that they had agreed on a partnership to release joint products and seek ways to use artificial intelligence products being developed by SK.
They added that SK Broadband and Netflix will end all disputes with the signing of today’s partnership and collaborate as partners in the future.
Spokespeople for Netflix and SK Broadband said both had withdrawn their lawsuits.
South Korean internet service provider SK Broadband and Netflix have announced they will end all lawsuits with each other following a dispute over whether Netflix should pay for costs from increased network traffic and maintenance work.
SK Broadband and parent SK Telecom in a joint statement with Netflix said that they had agreed on a partnership to release joint products and seek ways to use artificial intelligence products being developed by SK.
They added that SK Broadband and Netflix will end all disputes with the signing of today’s partnership and collaborate as partners in the future.
Spokespeople for Netflix and SK Broadband said both had withdrawn their lawsuits.
South Korean internet service provider SK Broadband and Netflix have announced they will end all lawsuits with each other following a dispute over whether Netflix should pay for costs from increased network traffic and maintenance work.
SK Broadband and parent SK Telecom in a joint statement with Netflix said that they had agreed on a partnership to release joint products and seek ways to use artificial intelligence products being developed by SK.
They added that SK Broadband and Netflix will end all disputes with the signing of today’s partnership and collaborate as partners in the future.
Spokespeople for Netflix and SK Broadband said both had withdrawn their lawsuits.
South Korean internet service provider SK Broadband and Netflix have announced they will end all lawsuits with each other following a dispute over whether Netflix should pay for costs from increased network traffic and maintenance work.
SK Broadband and parent SK Telecom in a joint statement with Netflix said that they had agreed on a partnership to release joint products and seek ways to use artificial intelligence products being developed by SK.
They added that SK Broadband and Netflix will end all disputes with the signing of today’s partnership and collaborate as partners in the future.
Spokespeople for Netflix and SK Broadband said both had withdrawn their lawsuits.
South Korean internet service provider SK Broadband and Netflix have announced they will end all lawsuits with each other following a dispute over whether Netflix should pay for costs from increased network traffic and maintenance work.
SK Broadband and parent SK Telecom in a joint statement with Netflix said that they had agreed on a partnership to release joint products and seek ways to use artificial intelligence products being developed by SK.
They added that SK Broadband and Netflix will end all disputes with the signing of today’s partnership and collaborate as partners in the future.
Spokespeople for Netflix and SK Broadband said both had withdrawn their lawsuits.
South Korean internet service provider SK Broadband and Netflix have announced they will end all lawsuits with each other following a dispute over whether Netflix should pay for costs from increased network traffic and maintenance work.
SK Broadband and parent SK Telecom in a joint statement with Netflix said that they had agreed on a partnership to release joint products and seek ways to use artificial intelligence products being developed by SK.
They added that SK Broadband and Netflix will end all disputes with the signing of today’s partnership and collaborate as partners in the future.
Spokespeople for Netflix and SK Broadband said both had withdrawn their lawsuits.
Chinese property developer Country Garden faces yet another liquidity test with a deadline to pay $15m in interest linked to an offshore bond after having dodged default at the last minute twice this month.
The country’s top private developer, whose financial woes have worsened the property sector outlook and prompted Beijing to unveil a raft of support measures, will have a 30-day grace period after Monday’s deadline to pay the coupon before it would be considered in default.
If Country Garden fails to pay the $15m before the grace period ends in mid-October, the principal will become due immediately and any failure to service the bond will trigger cross-default terms on other credit, said Sandra Chow, co-head of Asia-Pacific research at CreditSights.
Chinese property developer Country Garden faces yet another liquidity test with a deadline to pay $15m in interest linked to an offshore bond after having dodged default at the last minute twice this month.
The country’s top private developer, whose financial woes have worsened the property sector outlook and prompted Beijing to unveil a raft of support measures, will have a 30-day grace period after Monday’s deadline to pay the coupon before it would be considered in default.
If Country Garden fails to pay the $15m before the grace period ends in mid-October, the principal will become due immediately and any failure to service the bond will trigger cross-default terms on other credit, said Sandra Chow, co-head of Asia-Pacific research at CreditSights.
Chinese property developer Country Garden faces yet another liquidity test with a deadline to pay $15m in interest linked to an offshore bond after having dodged default at the last minute twice this month.
The country’s top private developer, whose financial woes have worsened the property sector outlook and prompted Beijing to unveil a raft of support measures, will have a 30-day grace period after Monday’s deadline to pay the coupon before it would be considered in default.
If Country Garden fails to pay the $15m before the grace period ends in mid-October, the principal will become due immediately and any failure to service the bond will trigger cross-default terms on other credit, said Sandra Chow, co-head of Asia-Pacific research at CreditSights.
Chinese property developer Country Garden faces yet another liquidity test with a deadline to pay $15m in interest linked to an offshore bond after having dodged default at the last minute twice this month.
The country’s top private developer, whose financial woes have worsened the property sector outlook and prompted Beijing to unveil a raft of support measures, will have a 30-day grace period after Monday’s deadline to pay the coupon before it would be considered in default.
If Country Garden fails to pay the $15m before the grace period ends in mid-October, the principal will become due immediately and any failure to service the bond will trigger cross-default terms on other credit, said Sandra Chow, co-head of Asia-Pacific research at CreditSights.
Chinese property developer Country Garden faces yet another liquidity test with a deadline to pay $15m in interest linked to an offshore bond after having dodged default at the last minute twice this month.
The country’s top private developer, whose financial woes have worsened the property sector outlook and prompted Beijing to unveil a raft of support measures, will have a 30-day grace period after Monday’s deadline to pay the coupon before it would be considered in default.
If Country Garden fails to pay the $15m before the grace period ends in mid-October, the principal will become due immediately and any failure to service the bond will trigger cross-default terms on other credit, said Sandra Chow, co-head of Asia-Pacific research at CreditSights.
Chinese property developer Country Garden faces yet another liquidity test with a deadline to pay $15m in interest linked to an offshore bond after having dodged default at the last minute twice this month.
The country’s top private developer, whose financial woes have worsened the property sector outlook and prompted Beijing to unveil a raft of support measures, will have a 30-day grace period after Monday’s deadline to pay the coupon before it would be considered in default.
If Country Garden fails to pay the $15m before the grace period ends in mid-October, the principal will become due immediately and any failure to service the bond will trigger cross-default terms on other credit, said Sandra Chow, co-head of Asia-Pacific research at CreditSights.
Water suppliers in Johannesburg, South Africa, have asked residents of the city and its suburbs to use less water amid an intensifying water shortage that they warn could result in the collapse of the system.
Rand Water and Johannesburg Water say that high water consumption by residents is putting a strain on the system and has resulted in significantly low water reservoir levels.
The companies have asked residents to save water by limiting their showers to two minutes, only flushing toilets after long calls and only washing cars on weekends using buckets.
Johannesburg is currently under the yearly water restrictions, which often last during South Africa’s dry season between September and March.
Water suppliers in Johannesburg, South Africa, have asked residents of the city and its suburbs to use less water amid an intensifying water shortage that they warn could result in the collapse of the system.
Rand Water and Johannesburg Water say that high water consumption by residents is putting a strain on the system and has resulted in significantly low water reservoir levels.
The companies have asked residents to save water by limiting their showers to two minutes, only flushing toilets after long calls and only washing cars on weekends using buckets.
Johannesburg is currently under the yearly water restrictions, which often last during South Africa’s dry season between September and March.
Water suppliers in Johannesburg, South Africa, have asked residents of the city and its suburbs to use less water amid an intensifying water shortage that they warn could result in the collapse of the system.
Rand Water and Johannesburg Water say that high water consumption by residents is putting a strain on the system and has resulted in significantly low water reservoir levels.
The companies have asked residents to save water by limiting their showers to two minutes, only flushing toilets after long calls and only washing cars on weekends using buckets.
Johannesburg is currently under the yearly water restrictions, which often last during South Africa’s dry season between September and March.
Water suppliers in Johannesburg, South Africa, have asked residents of the city and its suburbs to use less water amid an intensifying water shortage that they warn could result in the collapse of the system.
Rand Water and Johannesburg Water say that high water consumption by residents is putting a strain on the system and has resulted in significantly low water reservoir levels.
The companies have asked residents to save water by limiting their showers to two minutes, only flushing toilets after long calls and only washing cars on weekends using buckets.
Johannesburg is currently under the yearly water restrictions, which often last during South Africa’s dry season between September and March.
Water suppliers in Johannesburg, South Africa, have asked residents of the city and its suburbs to use less water amid an intensifying water shortage that they warn could result in the collapse of the system.
Rand Water and Johannesburg Water say that high water consumption by residents is putting a strain on the system and has resulted in significantly low water reservoir levels.
The companies have asked residents to save water by limiting their showers to two minutes, only flushing toilets after long calls and only washing cars on weekends using buckets.
Johannesburg is currently under the yearly water restrictions, which often last during South Africa’s dry season between September and March.
Water suppliers in Johannesburg, South Africa, have asked residents of the city and its suburbs to use less water amid an intensifying water shortage that they warn could result in the collapse of the system.
Rand Water and Johannesburg Water say that high water consumption by residents is putting a strain on the system and has resulted in significantly low water reservoir levels.
The companies have asked residents to save water by limiting their showers to two minutes, only flushing toilets after long calls and only washing cars on weekends using buckets.
Johannesburg is currently under the yearly water restrictions, which often last during South Africa’s dry season between September and March.
The Congo-Brazzaville government has denied reports of a coup attempt against President Denis Nguesso, who has been in power for 39 years.
It follows unconfirmed social media reports that the military was trying to oust the 79-year-old leader, who is currently in New York for the 78th session of the United Nations General Assembly.
The government’s website also posted a statement denying the coup attempt reports.
There has been a wave of coups across Africa in recent months, with the most recent one in the neighbouring Gabon, where the military seized power in January.
The Congo-Brazzaville government has denied reports of a coup attempt against President Denis Nguesso, who has been in power for 39 years.
It follows unconfirmed social media reports that the military was trying to oust the 79-year-old leader, who is currently in New York for the 78th session of the United Nations General Assembly.
The government’s website also posted a statement denying the coup attempt reports.
There has been a wave of coups across Africa in recent months, with the most recent one in the neighbouring Gabon, where the military seized power in January.
The Congo-Brazzaville government has denied reports of a coup attempt against President Denis Nguesso, who has been in power for 39 years.
It follows unconfirmed social media reports that the military was trying to oust the 79-year-old leader, who is currently in New York for the 78th session of the United Nations General Assembly.
The government’s website also posted a statement denying the coup attempt reports.
There has been a wave of coups across Africa in recent months, with the most recent one in the neighbouring Gabon, where the military seized power in January.
The Congo-Brazzaville government has denied reports of a coup attempt against President Denis Nguesso, who has been in power for 39 years.
It follows unconfirmed social media reports that the military was trying to oust the 79-year-old leader, who is currently in New York for the 78th session of the United Nations General Assembly.
The government’s website also posted a statement denying the coup attempt reports.
There has been a wave of coups across Africa in recent months, with the most recent one in the neighbouring Gabon, where the military seized power in January.
The Congo-Brazzaville government has denied reports of a coup attempt against President Denis Nguesso, who has been in power for 39 years.
It follows unconfirmed social media reports that the military was trying to oust the 79-year-old leader, who is currently in New York for the 78th session of the United Nations General Assembly.
The government’s website also posted a statement denying the coup attempt reports.
There has been a wave of coups across Africa in recent months, with the most recent one in the neighbouring Gabon, where the military seized power in January.
The Congo-Brazzaville government has denied reports of a coup attempt against President Denis Nguesso, who has been in power for 39 years.
It follows unconfirmed social media reports that the military was trying to oust the 79-year-old leader, who is currently in New York for the 78th session of the United Nations General Assembly.
The government’s website also posted a statement denying the coup attempt reports.
There has been a wave of coups across Africa in recent months, with the most recent one in the neighbouring Gabon, where the military seized power in January.
The Accountant General of the Federation, Dr Oluwatoyin Madein, says that the financial management policies of the country are under review.
The Director of Press for the Office of the Accountant General of the Federation, Bawa Mokwa reaffirmed her commitment to upholding and promoting prudence, transparency, and accountability in government financial transactions.
She explained that since the assumption of office, she had undertaken an in-depth review of the financial reforms and would leverage the outcome of the review to inject new ideas and strategies into the projects so that the gains so far recorded would be sustained.
The Accountant General of the Federation, Dr Oluwatoyin Madein, says that the financial management policies of the country are under review.
The Director of Press for the Office of the Accountant General of the Federation, Bawa Mokwa reaffirmed her commitment to upholding and promoting prudence, transparency, and accountability in government financial transactions.
She explained that since the assumption of office, she had undertaken an in-depth review of the financial reforms and would leverage the outcome of the review to inject new ideas and strategies into the projects so that the gains so far recorded would be sustained.
The Accountant General of the Federation, Dr Oluwatoyin Madein, says that the financial management policies of the country are under review.
The Director of Press for the Office of the Accountant General of the Federation, Bawa Mokwa reaffirmed her commitment to upholding and promoting prudence, transparency, and accountability in government financial transactions.
She explained that since the assumption of office, she had undertaken an in-depth review of the financial reforms and would leverage the outcome of the review to inject new ideas and strategies into the projects so that the gains so far recorded would be sustained.
The Accountant General of the Federation, Dr Oluwatoyin Madein, says that the financial management policies of the country are under review.
The Director of Press for the Office of the Accountant General of the Federation, Bawa Mokwa reaffirmed her commitment to upholding and promoting prudence, transparency, and accountability in government financial transactions.
She explained that since the assumption of office, she had undertaken an in-depth review of the financial reforms and would leverage the outcome of the review to inject new ideas and strategies into the projects so that the gains so far recorded would be sustained.
The Accountant General of the Federation, Dr Oluwatoyin Madein, says that the financial management policies of the country are under review.
The Director of Press for the Office of the Accountant General of the Federation, Bawa Mokwa reaffirmed her commitment to upholding and promoting prudence, transparency, and accountability in government financial transactions.
She explained that since the assumption of office, she had undertaken an in-depth review of the financial reforms and would leverage the outcome of the review to inject new ideas and strategies into the projects so that the gains so far recorded would be sustained.
The Accountant General of the Federation, Dr Oluwatoyin Madein, says that the financial management policies of the country are under review.
The Director of Press for the Office of the Accountant General of the Federation, Bawa Mokwa reaffirmed her commitment to upholding and promoting prudence, transparency, and accountability in government financial transactions.
She explained that since the assumption of office, she had undertaken an in-depth review of the financial reforms and would leverage the outcome of the review to inject new ideas and strategies into the projects so that the gains so far recorded would be sustained.
The Executive Vice-Chairman, of the Nigerian Communications Commission, Prof. Umar Danbatta says that telecoms investment inflow grew from $38 billion to $77 billion by the second quarter of 2023
Danbatta revealed that the sector had contributed 16 per cent to the nation’s Gross Domestic Product within the period under review.
He says that the statistics by the NCC were based on the computation by the Nigeria Bureau of Statistics.
He, however, attributed the success to thorough sustained regulatory excellence and operational efficiency by the commission adding that the industry has grown in leaps and bounds over the past two decades.
The Executive Vice-Chairman, of the Nigerian Communications Commission, Prof. Umar Danbatta says that telecoms investment inflow grew from $38 billion to $77 billion by the second quarter of 2023
Danbatta revealed that the sector had contributed 16 per cent to the nation’s Gross Domestic Product within the period under review.
He says that the statistics by the NCC were based on the computation by the Nigeria Bureau of Statistics.
He, however, attributed the success to thorough sustained regulatory excellence and operational efficiency by the commission adding that the industry has grown in leaps and bounds over the past two decades.
The Executive Vice-Chairman, of the Nigerian Communications Commission, Prof. Umar Danbatta says that telecoms investment inflow grew from $38 billion to $77 billion by the second quarter of 2023
Danbatta revealed that the sector had contributed 16 per cent to the nation’s Gross Domestic Product within the period under review.
He says that the statistics by the NCC were based on the computation by the Nigeria Bureau of Statistics.
He, however, attributed the success to thorough sustained regulatory excellence and operational efficiency by the commission adding that the industry has grown in leaps and bounds over the past two decades.
The Executive Vice-Chairman, of the Nigerian Communications Commission, Prof. Umar Danbatta says that telecoms investment inflow grew from $38 billion to $77 billion by the second quarter of 2023
Danbatta revealed that the sector had contributed 16 per cent to the nation’s Gross Domestic Product within the period under review.
He says that the statistics by the NCC were based on the computation by the Nigeria Bureau of Statistics.
He, however, attributed the success to thorough sustained regulatory excellence and operational efficiency by the commission adding that the industry has grown in leaps and bounds over the past two decades.
The Executive Vice-Chairman, of the Nigerian Communications Commission, Prof. Umar Danbatta says that telecoms investment inflow grew from $38 billion to $77 billion by the second quarter of 2023
Danbatta revealed that the sector had contributed 16 per cent to the nation’s Gross Domestic Product within the period under review.
He says that the statistics by the NCC were based on the computation by the Nigeria Bureau of Statistics.
He, however, attributed the success to thorough sustained regulatory excellence and operational efficiency by the commission adding that the industry has grown in leaps and bounds over the past two decades.
The Executive Vice-Chairman, of the Nigerian Communications Commission, Prof. Umar Danbatta says that telecoms investment inflow grew from $38 billion to $77 billion by the second quarter of 2023
Danbatta revealed that the sector had contributed 16 per cent to the nation’s Gross Domestic Product within the period under review.
He says that the statistics by the NCC were based on the computation by the Nigeria Bureau of Statistics.
He, however, attributed the success to thorough sustained regulatory excellence and operational efficiency by the commission adding that the industry has grown in leaps and bounds over the past two decades.
Twenty-three Nigerian states grew bilateral loans by 64.26 per cent in six months to $462.81m as of the end of June.
Most of the loans were taken from China, India, France and other countries.
The Central Bank of Nigeria directed Deposit Money Banks to remove the rate cap on the naira at the official Investors and Exporters’ Window of the foreign exchange market.
The external debt data from the Debt Management Office, shows that 23 states increased their borrowing from China (Exim Bank of China), India, France (Agence Francaise Development), Japan International Cooperation Agency, and Germany (Kreditanstalt Fur Wiederaufbua).
Twenty-three Nigerian states grew bilateral loans by 64.26 per cent in six months to $462.81m as of the end of June.
Most of the loans were taken from China, India, France and other countries.
The Central Bank of Nigeria directed Deposit Money Banks to remove the rate cap on the naira at the official Investors and Exporters’ Window of the foreign exchange market.
The external debt data from the Debt Management Office, shows that 23 states increased their borrowing from China (Exim Bank of China), India, France (Agence Francaise Development), Japan International Cooperation Agency, and Germany (Kreditanstalt Fur Wiederaufbua).
Twenty-three Nigerian states grew bilateral loans by 64.26 per cent in six months to $462.81m as of the end of June.
Most of the loans were taken from China, India, France and other countries.
The Central Bank of Nigeria directed Deposit Money Banks to remove the rate cap on the naira at the official Investors and Exporters’ Window of the foreign exchange market.
The external debt data from the Debt Management Office, shows that 23 states increased their borrowing from China (Exim Bank of China), India, France (Agence Francaise Development), Japan International Cooperation Agency, and Germany (Kreditanstalt Fur Wiederaufbua).
Twenty-three Nigerian states grew bilateral loans by 64.26 per cent in six months to $462.81m as of the end of June.
Most of the loans were taken from China, India, France and other countries.
The Central Bank of Nigeria directed Deposit Money Banks to remove the rate cap on the naira at the official Investors and Exporters’ Window of the foreign exchange market.
The external debt data from the Debt Management Office, shows that 23 states increased their borrowing from China (Exim Bank of China), India, France (Agence Francaise Development), Japan International Cooperation Agency, and Germany (Kreditanstalt Fur Wiederaufbua).
Twenty-three Nigerian states grew bilateral loans by 64.26 per cent in six months to $462.81m as of the end of June.
Most of the loans were taken from China, India, France and other countries.
The Central Bank of Nigeria directed Deposit Money Banks to remove the rate cap on the naira at the official Investors and Exporters’ Window of the foreign exchange market.
The external debt data from the Debt Management Office, shows that 23 states increased their borrowing from China (Exim Bank of China), India, France (Agence Francaise Development), Japan International Cooperation Agency, and Germany (Kreditanstalt Fur Wiederaufbua).
Twenty-three Nigerian states grew bilateral loans by 64.26 per cent in six months to $462.81m as of the end of June.
Most of the loans were taken from China, India, France and other countries.
The Central Bank of Nigeria directed Deposit Money Banks to remove the rate cap on the naira at the official Investors and Exporters’ Window of the foreign exchange market.
The external debt data from the Debt Management Office, shows that 23 states increased their borrowing from China (Exim Bank of China), India, France (Agence Francaise Development), Japan International Cooperation Agency, and Germany (Kreditanstalt Fur Wiederaufbua).
The Federal Government has invited the Nigerian Labour Congress over the union’s plan to go on indefinite strike.
Labour and Employment Minister Simon Lalong has invited them for discussions while the NLC is planning a nationwide shutdown owing to the removal of fuel subsidy and the hardship in the country.
The Minister who directed the Department of Trade Unions Services and Industrial Relations to convene a meeting with the leadership of the Nigeria Labour Congress says it was important that the Unions sit with Government to resolve all pending matters to avert further disruption to the economy.”
The minister reiterated President Bola Tinubu’s government’s commitment to “always engage the organised labour and respond to its concerns after due consultation and negotiations.
The Federal Government has invited the Nigerian Labour Congress over the union’s plan to go on indefinite strike.
Labour and Employment Minister Simon Lalong has invited them for discussions while the NLC is planning a nationwide shutdown owing to the removal of fuel subsidy and the hardship in the country.
The Minister who directed the Department of Trade Unions Services and Industrial Relations to convene a meeting with the leadership of the Nigeria Labour Congress says it was important that the Unions sit with Government to resolve all pending matters to avert further disruption to the economy.”
The minister reiterated President Bola Tinubu’s government’s commitment to “always engage the organised labour and respond to its concerns after due consultation and negotiations.
The Federal Government has invited the Nigerian Labour Congress over the union’s plan to go on indefinite strike.
Labour and Employment Minister Simon Lalong has invited them for discussions while the NLC is planning a nationwide shutdown owing to the removal of fuel subsidy and the hardship in the country.
The Minister who directed the Department of Trade Unions Services and Industrial Relations to convene a meeting with the leadership of the Nigeria Labour Congress says it was important that the Unions sit with Government to resolve all pending matters to avert further disruption to the economy.”
The minister reiterated President Bola Tinubu’s government’s commitment to “always engage the organised labour and respond to its concerns after due consultation and negotiations.
The Federal Government has invited the Nigerian Labour Congress over the union’s plan to go on indefinite strike.
Labour and Employment Minister Simon Lalong has invited them for discussions while the NLC is planning a nationwide shutdown owing to the removal of fuel subsidy and the hardship in the country.
The Minister who directed the Department of Trade Unions Services and Industrial Relations to convene a meeting with the leadership of the Nigeria Labour Congress says it was important that the Unions sit with Government to resolve all pending matters to avert further disruption to the economy.”
The minister reiterated President Bola Tinubu’s government’s commitment to “always engage the organised labour and respond to its concerns after due consultation and negotiations.
The Federal Government has invited the Nigerian Labour Congress over the union’s plan to go on indefinite strike.
Labour and Employment Minister Simon Lalong has invited them for discussions while the NLC is planning a nationwide shutdown owing to the removal of fuel subsidy and the hardship in the country.
The Minister who directed the Department of Trade Unions Services and Industrial Relations to convene a meeting with the leadership of the Nigeria Labour Congress says it was important that the Unions sit with Government to resolve all pending matters to avert further disruption to the economy.”
The minister reiterated President Bola Tinubu’s government’s commitment to “always engage the organised labour and respond to its concerns after due consultation and negotiations.
The Federal Government has invited the Nigerian Labour Congress over the union’s plan to go on indefinite strike.
Labour and Employment Minister Simon Lalong has invited them for discussions while the NLC is planning a nationwide shutdown owing to the removal of fuel subsidy and the hardship in the country.
The Minister who directed the Department of Trade Unions Services and Industrial Relations to convene a meeting with the leadership of the Nigeria Labour Congress says it was important that the Unions sit with Government to resolve all pending matters to avert further disruption to the economy.”
The minister reiterated President Bola Tinubu’s government’s commitment to “always engage the organised labour and respond to its concerns after due consultation and negotiations.
Human Resources Minister V Sivakumar says Malaysia has taken action against 400 companies so far this year for violating labour laws.
The ministry’s labour department issued fines totalling 2.17 million ringgit against 272 employers, while the courts fined 128 employers a combined 242,000 ringgit.
Sivakumar says the labour violations included illegal wage deductions.
The allegations of forced labour include debt bondage, excessive working hours, retention of passports and unhygienic dormitories.
Human Resources Minister V Sivakumar says Malaysia has taken action against 400 companies so far this year for violating labour laws.
The ministry’s labour department issued fines totalling 2.17 million ringgit against 272 employers, while the courts fined 128 employers a combined 242,000 ringgit.
Sivakumar says the labour violations included illegal wage deductions.
The allegations of forced labour include debt bondage, excessive working hours, retention of passports and unhygienic dormitories.
Human Resources Minister V Sivakumar says Malaysia has taken action against 400 companies so far this year for violating labour laws.
The ministry’s labour department issued fines totalling 2.17 million ringgit against 272 employers, while the courts fined 128 employers a combined 242,000 ringgit.
Sivakumar says the labour violations included illegal wage deductions.
The allegations of forced labour include debt bondage, excessive working hours, retention of passports and unhygienic dormitories.
Human Resources Minister V Sivakumar says Malaysia has taken action against 400 companies so far this year for violating labour laws.
The ministry’s labour department issued fines totalling 2.17 million ringgit against 272 employers, while the courts fined 128 employers a combined 242,000 ringgit.
Sivakumar says the labour violations included illegal wage deductions.
The allegations of forced labour include debt bondage, excessive working hours, retention of passports and unhygienic dormitories.
Human Resources Minister V Sivakumar says Malaysia has taken action against 400 companies so far this year for violating labour laws.
The ministry’s labour department issued fines totalling 2.17 million ringgit against 272 employers, while the courts fined 128 employers a combined 242,000 ringgit.
Sivakumar says the labour violations included illegal wage deductions.
The allegations of forced labour include debt bondage, excessive working hours, retention of passports and unhygienic dormitories.
Human Resources Minister V Sivakumar says Malaysia has taken action against 400 companies so far this year for violating labour laws.
The ministry’s labour department issued fines totalling 2.17 million ringgit against 272 employers, while the courts fined 128 employers a combined 242,000 ringgit.
Sivakumar says the labour violations included illegal wage deductions.
The allegations of forced labour include debt bondage, excessive working hours, retention of passports and unhygienic dormitories.
The UK, France and Germany are to retain sanctions on Iran in an attempt to deter Tehran from selling drones and missiles to Russia.
In 2015 Iran agreed to a nuclear deal and, under the terms, some sanctions were due to be lifted next month.
The European nations, however, believe Iran breached the deal by enriching and storing uranium.
Iran says their move is illegal and provocative and clearly violated the terms of the nuclear deal.
The European powers announced that they would incorporate expiring UN sanctions into their own laws.
Some of the measures are supposed to stop Iran from developing and exporting ballistic missiles and drones.
The UK, France and Germany are to retain sanctions on Iran in an attempt to deter Tehran from selling drones and missiles to Russia.
In 2015 Iran agreed to a nuclear deal and, under the terms, some sanctions were due to be lifted next month.
The European nations, however, believe Iran breached the deal by enriching and storing uranium.
Iran says their move is illegal and provocative and clearly violated the terms of the nuclear deal.
The European powers announced that they would incorporate expiring UN sanctions into their own laws.
Some of the measures are supposed to stop Iran from developing and exporting ballistic missiles and drones.
The UK, France and Germany are to retain sanctions on Iran in an attempt to deter Tehran from selling drones and missiles to Russia.
In 2015 Iran agreed to a nuclear deal and, under the terms, some sanctions were due to be lifted next month.
The European nations, however, believe Iran breached the deal by enriching and storing uranium.
Iran says their move is illegal and provocative and clearly violated the terms of the nuclear deal.
The European powers announced that they would incorporate expiring UN sanctions into their own laws.
Some of the measures are supposed to stop Iran from developing and exporting ballistic missiles and drones.
The UK, France and Germany are to retain sanctions on Iran in an attempt to deter Tehran from selling drones and missiles to Russia.
In 2015 Iran agreed to a nuclear deal and, under the terms, some sanctions were due to be lifted next month.
The European nations, however, believe Iran breached the deal by enriching and storing uranium.
Iran says their move is illegal and provocative and clearly violated the terms of the nuclear deal.
The European powers announced that they would incorporate expiring UN sanctions into their own laws.
Some of the measures are supposed to stop Iran from developing and exporting ballistic missiles and drones.
The UK, France and Germany are to retain sanctions on Iran in an attempt to deter Tehran from selling drones and missiles to Russia.
In 2015 Iran agreed to a nuclear deal and, under the terms, some sanctions were due to be lifted next month.
The European nations, however, believe Iran breached the deal by enriching and storing uranium.
Iran says their move is illegal and provocative and clearly violated the terms of the nuclear deal.
The European powers announced that they would incorporate expiring UN sanctions into their own laws.
Some of the measures are supposed to stop Iran from developing and exporting ballistic missiles and drones.
The UK, France and Germany are to retain sanctions on Iran in an attempt to deter Tehran from selling drones and missiles to Russia.
In 2015 Iran agreed to a nuclear deal and, under the terms, some sanctions were due to be lifted next month.
The European nations, however, believe Iran breached the deal by enriching and storing uranium.
Iran says their move is illegal and provocative and clearly violated the terms of the nuclear deal.
The European powers announced that they would incorporate expiring UN sanctions into their own laws.
Some of the measures are supposed to stop Iran from developing and exporting ballistic missiles and drones.
Almost 13,000 auto workers in the United States have stopped working after the United Auto Workers union launched a strike targeting all three of the country’s major car manufacturers for the first time in history.
The strike, involving some 12,700 workers at three assembly plants in Michigan, Missouri and Ohio, is expected to halt production of popular car models including the Ford Bronco, Jeep Wrangler and Chevrolet Colorado.
The UAW has demanded a 36 percent pay rise over four years and the elimination of a tiered salary scale that requires workers to put in eight years before being eligible for the same compensation as veteran employees.
UAW President Shawn Fain says the union would not call a broader general strike for now, but all options would be on the table if new contracts are not agreed.
Almost 13,000 auto workers in the United States have stopped working after the United Auto Workers union launched a strike targeting all three of the country’s major car manufacturers for the first time in history.
The strike, involving some 12,700 workers at three assembly plants in Michigan, Missouri and Ohio, is expected to halt production of popular car models including the Ford Bronco, Jeep Wrangler and Chevrolet Colorado.
The UAW has demanded a 36 percent pay rise over four years and the elimination of a tiered salary scale that requires workers to put in eight years before being eligible for the same compensation as veteran employees.
UAW President Shawn Fain says the union would not call a broader general strike for now, but all options would be on the table if new contracts are not agreed.
Almost 13,000 auto workers in the United States have stopped working after the United Auto Workers union launched a strike targeting all three of the country’s major car manufacturers for the first time in history.
The strike, involving some 12,700 workers at three assembly plants in Michigan, Missouri and Ohio, is expected to halt production of popular car models including the Ford Bronco, Jeep Wrangler and Chevrolet Colorado.
The UAW has demanded a 36 percent pay rise over four years and the elimination of a tiered salary scale that requires workers to put in eight years before being eligible for the same compensation as veteran employees.
UAW President Shawn Fain says the union would not call a broader general strike for now, but all options would be on the table if new contracts are not agreed.
Almost 13,000 auto workers in the United States have stopped working after the United Auto Workers union launched a strike targeting all three of the country’s major car manufacturers for the first time in history.
The strike, involving some 12,700 workers at three assembly plants in Michigan, Missouri and Ohio, is expected to halt production of popular car models including the Ford Bronco, Jeep Wrangler and Chevrolet Colorado.
The UAW has demanded a 36 percent pay rise over four years and the elimination of a tiered salary scale that requires workers to put in eight years before being eligible for the same compensation as veteran employees.
UAW President Shawn Fain says the union would not call a broader general strike for now, but all options would be on the table if new contracts are not agreed.
Almost 13,000 auto workers in the United States have stopped working after the United Auto Workers union launched a strike targeting all three of the country’s major car manufacturers for the first time in history.
The strike, involving some 12,700 workers at three assembly plants in Michigan, Missouri and Ohio, is expected to halt production of popular car models including the Ford Bronco, Jeep Wrangler and Chevrolet Colorado.
The UAW has demanded a 36 percent pay rise over four years and the elimination of a tiered salary scale that requires workers to put in eight years before being eligible for the same compensation as veteran employees.
UAW President Shawn Fain says the union would not call a broader general strike for now, but all options would be on the table if new contracts are not agreed.
Almost 13,000 auto workers in the United States have stopped working after the United Auto Workers union launched a strike targeting all three of the country’s major car manufacturers for the first time in history.
The strike, involving some 12,700 workers at three assembly plants in Michigan, Missouri and Ohio, is expected to halt production of popular car models including the Ford Bronco, Jeep Wrangler and Chevrolet Colorado.
The UAW has demanded a 36 percent pay rise over four years and the elimination of a tiered salary scale that requires workers to put in eight years before being eligible for the same compensation as veteran employees.
UAW President Shawn Fain says the union would not call a broader general strike for now, but all options would be on the table if new contracts are not agreed.
A human rights NGO has criticised Kenya’s President William Ruto for failing to reduce human rights violations, after it documented a more than twofold increase in abuses since the beginning of Mr Ruto's presidency in September 2022.
The Independent Medico-Legal Unit documented 482 cases of torture and related violations since last October, some 128 extrajudicial murders and three enforced disappearances.
It says the victims are overwhelmingly young males, with minors aged 17 or younger accounting for 44 cases.
The organisation says that the data implies that the president’s efforts to address police abuse and protect urban youth have fallen short.
A human rights NGO has criticised Kenya’s President William Ruto for failing to reduce human rights violations, after it documented a more than twofold increase in abuses since the beginning of Mr Ruto's presidency in September 2022.
The Independent Medico-Legal Unit documented 482 cases of torture and related violations since last October, some 128 extrajudicial murders and three enforced disappearances.
It says the victims are overwhelmingly young males, with minors aged 17 or younger accounting for 44 cases.
The organisation says that the data implies that the president’s efforts to address police abuse and protect urban youth have fallen short.
A human rights NGO has criticised Kenya’s President William Ruto for failing to reduce human rights violations, after it documented a more than twofold increase in abuses since the beginning of Mr Ruto's presidency in September 2022.
The Independent Medico-Legal Unit documented 482 cases of torture and related violations since last October, some 128 extrajudicial murders and three enforced disappearances.
It says the victims are overwhelmingly young males, with minors aged 17 or younger accounting for 44 cases.
The organisation says that the data implies that the president’s efforts to address police abuse and protect urban youth have fallen short.
A human rights NGO has criticised Kenya’s President William Ruto for failing to reduce human rights violations, after it documented a more than twofold increase in abuses since the beginning of Mr Ruto's presidency in September 2022.
The Independent Medico-Legal Unit documented 482 cases of torture and related violations since last October, some 128 extrajudicial murders and three enforced disappearances.
It says the victims are overwhelmingly young males, with minors aged 17 or younger accounting for 44 cases.
The organisation says that the data implies that the president’s efforts to address police abuse and protect urban youth have fallen short.
A human rights NGO has criticised Kenya’s President William Ruto for failing to reduce human rights violations, after it documented a more than twofold increase in abuses since the beginning of Mr Ruto's presidency in September 2022.
The Independent Medico-Legal Unit documented 482 cases of torture and related violations since last October, some 128 extrajudicial murders and three enforced disappearances.
It says the victims are overwhelmingly young males, with minors aged 17 or younger accounting for 44 cases.
The organisation says that the data implies that the president’s efforts to address police abuse and protect urban youth have fallen short.
A human rights NGO has criticised Kenya’s President William Ruto for failing to reduce human rights violations, after it documented a more than twofold increase in abuses since the beginning of Mr Ruto's presidency in September 2022.
The Independent Medico-Legal Unit documented 482 cases of torture and related violations since last October, some 128 extrajudicial murders and three enforced disappearances.
It says the victims are overwhelmingly young males, with minors aged 17 or younger accounting for 44 cases.
The organisation says that the data implies that the president’s efforts to address police abuse and protect urban youth have fallen short.
The Federal Government says it is currently working on the final details related to the United Arab Emirates visa issue.
The Minister of Aviation and Aerospace Development, Festus Keyamo says it was crucial for airlines operating between Nigeria and the UAE to have reciprocal rights as per the Bilateral Air Services Agreements.
He stressed the importance of balanced and fair treatment between the two countries.
Keyamo assured that efforts were being made to ensure that the funds of foreign airlines were repatriated
The Federal Government says it is currently working on the final details related to the United Arab Emirates visa issue.
The Minister of Aviation and Aerospace Development, Festus Keyamo says it was crucial for airlines operating between Nigeria and the UAE to have reciprocal rights as per the Bilateral Air Services Agreements.
He stressed the importance of balanced and fair treatment between the two countries.
Keyamo assured that efforts were being made to ensure that the funds of foreign airlines were repatriated
The Federal Government says it is currently working on the final details related to the United Arab Emirates visa issue.
The Minister of Aviation and Aerospace Development, Festus Keyamo says it was crucial for airlines operating between Nigeria and the UAE to have reciprocal rights as per the Bilateral Air Services Agreements.
He stressed the importance of balanced and fair treatment between the two countries.
Keyamo assured that efforts were being made to ensure that the funds of foreign airlines were repatriated
The Federal Government says it is currently working on the final details related to the United Arab Emirates visa issue.
The Minister of Aviation and Aerospace Development, Festus Keyamo says it was crucial for airlines operating between Nigeria and the UAE to have reciprocal rights as per the Bilateral Air Services Agreements.
He stressed the importance of balanced and fair treatment between the two countries.
Keyamo assured that efforts were being made to ensure that the funds of foreign airlines were repatriated
The Federal Government says it is currently working on the final details related to the United Arab Emirates visa issue.
The Minister of Aviation and Aerospace Development, Festus Keyamo says it was crucial for airlines operating between Nigeria and the UAE to have reciprocal rights as per the Bilateral Air Services Agreements.
He stressed the importance of balanced and fair treatment between the two countries.
Keyamo assured that efforts were being made to ensure that the funds of foreign airlines were repatriated
The Federal Government says it is currently working on the final details related to the United Arab Emirates visa issue.
The Minister of Aviation and Aerospace Development, Festus Keyamo says it was crucial for airlines operating between Nigeria and the UAE to have reciprocal rights as per the Bilateral Air Services Agreements.
He stressed the importance of balanced and fair treatment between the two countries.
Keyamo assured that efforts were being made to ensure that the funds of foreign airlines were repatriated
The Federal Government, through the Ministry of Works, says it has N431bn ready for contractors.
The Minister of Works, David Umahi, announced the ministry's intention to focus on most of the dualised roads across the country.
Umahi says he had also come up with a performance bond, which meant that all new projects would be guaranteed for 10 years.
He says their intention is to face most of the dualised roads in the country.
The Federal Government, through the Ministry of Works, says it has N431bn ready for contractors.
The Minister of Works, David Umahi, announced the ministry's intention to focus on most of the dualised roads across the country.
Umahi says he had also come up with a performance bond, which meant that all new projects would be guaranteed for 10 years.
He says their intention is to face most of the dualised roads in the country.
The Federal Government, through the Ministry of Works, says it has N431bn ready for contractors.
The Minister of Works, David Umahi, announced the ministry's intention to focus on most of the dualised roads across the country.
Umahi says he had also come up with a performance bond, which meant that all new projects would be guaranteed for 10 years.
He says their intention is to face most of the dualised roads in the country.
The Federal Government, through the Ministry of Works, says it has N431bn ready for contractors.
The Minister of Works, David Umahi, announced the ministry's intention to focus on most of the dualised roads across the country.
Umahi says he had also come up with a performance bond, which meant that all new projects would be guaranteed for 10 years.
He says their intention is to face most of the dualised roads in the country.
The Federal Government, through the Ministry of Works, says it has N431bn ready for contractors.
The Minister of Works, David Umahi, announced the ministry's intention to focus on most of the dualised roads across the country.
Umahi says he had also come up with a performance bond, which meant that all new projects would be guaranteed for 10 years.
He says their intention is to face most of the dualised roads in the country.
The Federal Government, through the Ministry of Works, says it has N431bn ready for contractors.
The Minister of Works, David Umahi, announced the ministry's intention to focus on most of the dualised roads across the country.
Umahi says he had also come up with a performance bond, which meant that all new projects would be guaranteed for 10 years.
He says their intention is to face most of the dualised roads in the country.
President Bola Tinubu says his administration will acquire land for ranches and livestock production in the country.
President Tinubu received the report of the National Conference on Livestock Reforms which called for the establishment of the Ministry of Livestock to better implement their recommendations.
Tinubu says the Federal Government will be ready to apply to acquire land for ranches and livestock development.
He says the herder-farmer clashes have persisted in the country due to leadership failure.
President Bola Tinubu says his administration will acquire land for ranches and livestock production in the country.
President Tinubu received the report of the National Conference on Livestock Reforms which called for the establishment of the Ministry of Livestock to better implement their recommendations.
Tinubu says the Federal Government will be ready to apply to acquire land for ranches and livestock development.
He says the herder-farmer clashes have persisted in the country due to leadership failure.
President Bola Tinubu says his administration will acquire land for ranches and livestock production in the country.
President Tinubu received the report of the National Conference on Livestock Reforms which called for the establishment of the Ministry of Livestock to better implement their recommendations.
Tinubu says the Federal Government will be ready to apply to acquire land for ranches and livestock development.
He says the herder-farmer clashes have persisted in the country due to leadership failure.
President Bola Tinubu says his administration will acquire land for ranches and livestock production in the country.
President Tinubu received the report of the National Conference on Livestock Reforms which called for the establishment of the Ministry of Livestock to better implement their recommendations.
Tinubu says the Federal Government will be ready to apply to acquire land for ranches and livestock development.
He says the herder-farmer clashes have persisted in the country due to leadership failure.
President Bola Tinubu says his administration will acquire land for ranches and livestock production in the country.
President Tinubu received the report of the National Conference on Livestock Reforms which called for the establishment of the Ministry of Livestock to better implement their recommendations.
Tinubu says the Federal Government will be ready to apply to acquire land for ranches and livestock development.
He says the herder-farmer clashes have persisted in the country due to leadership failure.
President Bola Tinubu says his administration will acquire land for ranches and livestock production in the country.
President Tinubu received the report of the National Conference on Livestock Reforms which called for the establishment of the Ministry of Livestock to better implement their recommendations.
Tinubu says the Federal Government will be ready to apply to acquire land for ranches and livestock development.
He says the herder-farmer clashes have persisted in the country due to leadership failure.
China’s tech giant Alibaba has announced that its outgoing chief executive will also step down from its cloud business, sending the company’s shares tumbling.
Alibaba shares fell by 3.5 per cent following the surprise announcement that CEO Daniel Zhang would not stay on to lead the e-commerce giant’s cloud business as planned.
Alibaba announced in June that Zhang would step down as group CEO to focus solely on leading the cloud intelligence unit.
Eddie Wu, who was set to take over from Zhang as group CEO and director in September, will now serve concurrently as chairman and CEO of the cloud business on an interim basis.
China’s tech giant Alibaba has announced that its outgoing chief executive will also step down from its cloud business, sending the company’s shares tumbling.
Alibaba shares fell by 3.5 per cent following the surprise announcement that CEO Daniel Zhang would not stay on to lead the e-commerce giant’s cloud business as planned.
Alibaba announced in June that Zhang would step down as group CEO to focus solely on leading the cloud intelligence unit.
Eddie Wu, who was set to take over from Zhang as group CEO and director in September, will now serve concurrently as chairman and CEO of the cloud business on an interim basis.
China’s tech giant Alibaba has announced that its outgoing chief executive will also step down from its cloud business, sending the company’s shares tumbling.
Alibaba shares fell by 3.5 per cent following the surprise announcement that CEO Daniel Zhang would not stay on to lead the e-commerce giant’s cloud business as planned.
Alibaba announced in June that Zhang would step down as group CEO to focus solely on leading the cloud intelligence unit.
Eddie Wu, who was set to take over from Zhang as group CEO and director in September, will now serve concurrently as chairman and CEO of the cloud business on an interim basis.
China’s tech giant Alibaba has announced that its outgoing chief executive will also step down from its cloud business, sending the company’s shares tumbling.
Alibaba shares fell by 3.5 per cent following the surprise announcement that CEO Daniel Zhang would not stay on to lead the e-commerce giant’s cloud business as planned.
Alibaba announced in June that Zhang would step down as group CEO to focus solely on leading the cloud intelligence unit.
Eddie Wu, who was set to take over from Zhang as group CEO and director in September, will now serve concurrently as chairman and CEO of the cloud business on an interim basis.
China’s tech giant Alibaba has announced that its outgoing chief executive will also step down from its cloud business, sending the company’s shares tumbling.
Alibaba shares fell by 3.5 per cent following the surprise announcement that CEO Daniel Zhang would not stay on to lead the e-commerce giant’s cloud business as planned.
Alibaba announced in June that Zhang would step down as group CEO to focus solely on leading the cloud intelligence unit.
Eddie Wu, who was set to take over from Zhang as group CEO and director in September, will now serve concurrently as chairman and CEO of the cloud business on an interim basis.
China’s tech giant Alibaba has announced that its outgoing chief executive will also step down from its cloud business, sending the company’s shares tumbling.
Alibaba shares fell by 3.5 per cent following the surprise announcement that CEO Daniel Zhang would not stay on to lead the e-commerce giant’s cloud business as planned.
Alibaba announced in June that Zhang would step down as group CEO to focus solely on leading the cloud intelligence unit.
Eddie Wu, who was set to take over from Zhang as group CEO and director in September, will now serve concurrently as chairman and CEO of the cloud business on an interim basis.
India’s main opposition leader says that Prime Minister Narendra Modi’s plans to change the country’s name from India to Bharat is absurd.
The Modi government’s decision to replace the name with a Sanskrit word in dinner invitations for attendees of the two-day G20 summit in New Delhi led to a major uproar.
Gandhi, the leader of the opposition Congress party, says the government’s plan to change the name is a diversionary tactic.
The Congress party leader has accused Modi of favouring big industrialists and sought an investigation against the billionaire Adani, who controls the Adani Group, for alleged financial violations.
India’s main opposition leader says that Prime Minister Narendra Modi’s plans to change the country’s name from India to Bharat is absurd.
The Modi government’s decision to replace the name with a Sanskrit word in dinner invitations for attendees of the two-day G20 summit in New Delhi led to a major uproar.
Gandhi, the leader of the opposition Congress party, says the government’s plan to change the name is a diversionary tactic.
The Congress party leader has accused Modi of favouring big industrialists and sought an investigation against the billionaire Adani, who controls the Adani Group, for alleged financial violations.
India’s main opposition leader says that Prime Minister Narendra Modi’s plans to change the country’s name from India to Bharat is absurd.
The Modi government’s decision to replace the name with a Sanskrit word in dinner invitations for attendees of the two-day G20 summit in New Delhi led to a major uproar.
Gandhi, the leader of the opposition Congress party, says the government’s plan to change the name is a diversionary tactic.
The Congress party leader has accused Modi of favouring big industrialists and sought an investigation against the billionaire Adani, who controls the Adani Group, for alleged financial violations.
India’s main opposition leader says that Prime Minister Narendra Modi’s plans to change the country’s name from India to Bharat is absurd.
The Modi government’s decision to replace the name with a Sanskrit word in dinner invitations for attendees of the two-day G20 summit in New Delhi led to a major uproar.
Gandhi, the leader of the opposition Congress party, says the government’s plan to change the name is a diversionary tactic.
The Congress party leader has accused Modi of favouring big industrialists and sought an investigation against the billionaire Adani, who controls the Adani Group, for alleged financial violations.
India’s main opposition leader says that Prime Minister Narendra Modi’s plans to change the country’s name from India to Bharat is absurd.
The Modi government’s decision to replace the name with a Sanskrit word in dinner invitations for attendees of the two-day G20 summit in New Delhi led to a major uproar.
Gandhi, the leader of the opposition Congress party, says the government’s plan to change the name is a diversionary tactic.
The Congress party leader has accused Modi of favouring big industrialists and sought an investigation against the billionaire Adani, who controls the Adani Group, for alleged financial violations.
India’s main opposition leader says that Prime Minister Narendra Modi’s plans to change the country’s name from India to Bharat is absurd.
The Modi government’s decision to replace the name with a Sanskrit word in dinner invitations for attendees of the two-day G20 summit in New Delhi led to a major uproar.
Gandhi, the leader of the opposition Congress party, says the government’s plan to change the name is a diversionary tactic.
The Congress party leader has accused Modi of favouring big industrialists and sought an investigation against the billionaire Adani, who controls the Adani Group, for alleged financial violations.
Egypt has voiced anger after Ethiopia announced it had filled the reservoir at a highly controversial hydroelectric dam on the Blue Nile River.
Egypt's foreign ministry says Ethiopia was disregarding the interests of the downstream countries.
Ethiopia says the $4.2bn dam will not cut their share of Nile water.
Ethiopian Prime Minister Abiy Ahmed admitted the project had faced internal and external obstacles.
Ethiopia believes the Grand Ethiopian Renaissance Dam will double the country's electricity output, providing a vital development boost, as currently half the 127-million population lacks electricity.
Egypt has voiced anger after Ethiopia announced it had filled the reservoir at a highly controversial hydroelectric dam on the Blue Nile River.
Egypt's foreign ministry says Ethiopia was disregarding the interests of the downstream countries.
Ethiopia says the $4.2bn dam will not cut their share of Nile water.
Ethiopian Prime Minister Abiy Ahmed admitted the project had faced internal and external obstacles.
Ethiopia believes the Grand Ethiopian Renaissance Dam will double the country's electricity output, providing a vital development boost, as currently half the 127-million population lacks electricity.
Egypt has voiced anger after Ethiopia announced it had filled the reservoir at a highly controversial hydroelectric dam on the Blue Nile River.
Egypt's foreign ministry says Ethiopia was disregarding the interests of the downstream countries.
Ethiopia says the $4.2bn dam will not cut their share of Nile water.
Ethiopian Prime Minister Abiy Ahmed admitted the project had faced internal and external obstacles.
Ethiopia believes the Grand Ethiopian Renaissance Dam will double the country's electricity output, providing a vital development boost, as currently half the 127-million population lacks electricity.
Egypt has voiced anger after Ethiopia announced it had filled the reservoir at a highly controversial hydroelectric dam on the Blue Nile River.
Egypt's foreign ministry says Ethiopia was disregarding the interests of the downstream countries.
Ethiopia says the $4.2bn dam will not cut their share of Nile water.
Ethiopian Prime Minister Abiy Ahmed admitted the project had faced internal and external obstacles.
Ethiopia believes the Grand Ethiopian Renaissance Dam will double the country's electricity output, providing a vital development boost, as currently half the 127-million population lacks electricity.
Egypt has voiced anger after Ethiopia announced it had filled the reservoir at a highly controversial hydroelectric dam on the Blue Nile River.
Egypt's foreign ministry says Ethiopia was disregarding the interests of the downstream countries.
Ethiopia says the $4.2bn dam will not cut their share of Nile water.
Ethiopian Prime Minister Abiy Ahmed admitted the project had faced internal and external obstacles.
Ethiopia believes the Grand Ethiopian Renaissance Dam will double the country's electricity output, providing a vital development boost, as currently half the 127-million population lacks electricity.
Egypt has voiced anger after Ethiopia announced it had filled the reservoir at a highly controversial hydroelectric dam on the Blue Nile River.
Egypt's foreign ministry says Ethiopia was disregarding the interests of the downstream countries.
Ethiopia says the $4.2bn dam will not cut their share of Nile water.
Ethiopian Prime Minister Abiy Ahmed admitted the project had faced internal and external obstacles.
Ethiopia believes the Grand Ethiopian Renaissance Dam will double the country's electricity output, providing a vital development boost, as currently half the 127-million population lacks electricity.
Russian President Vladimir Putin and Mali's interim leader Assimi Goïta have called for a political settlement in Niger, where President Mohamed Bazoum was ousted in July.
The two leaders said the Niger crisis should be resolved through political and diplomatic means.
Mr Putin and Mr Goïta also discussed bilateral relations, including talks on “anti-terror” operations, the statement said.
The Russian leader had in August also emphasised the need for a peaceful solution in Niger.
Russian President Vladimir Putin and Mali's interim leader Assimi Goïta have called for a political settlement in Niger, where President Mohamed Bazoum was ousted in July.
The two leaders said the Niger crisis should be resolved through political and diplomatic means.
Mr Putin and Mr Goïta also discussed bilateral relations, including talks on “anti-terror” operations, the statement said.
The Russian leader had in August also emphasised the need for a peaceful solution in Niger.
Russian President Vladimir Putin and Mali's interim leader Assimi Goïta have called for a political settlement in Niger, where President Mohamed Bazoum was ousted in July.
The two leaders said the Niger crisis should be resolved through political and diplomatic means.
Mr Putin and Mr Goïta also discussed bilateral relations, including talks on “anti-terror” operations, the statement said.
The Russian leader had in August also emphasised the need for a peaceful solution in Niger.
Russian President Vladimir Putin and Mali's interim leader Assimi Goïta have called for a political settlement in Niger, where President Mohamed Bazoum was ousted in July.
The two leaders said the Niger crisis should be resolved through political and diplomatic means.
Mr Putin and Mr Goïta also discussed bilateral relations, including talks on “anti-terror” operations, the statement said.
The Russian leader had in August also emphasised the need for a peaceful solution in Niger.
Russian President Vladimir Putin and Mali's interim leader Assimi Goïta have called for a political settlement in Niger, where President Mohamed Bazoum was ousted in July.
The two leaders said the Niger crisis should be resolved through political and diplomatic means.
Mr Putin and Mr Goïta also discussed bilateral relations, including talks on “anti-terror” operations, the statement said.
The Russian leader had in August also emphasised the need for a peaceful solution in Niger.
Russian President Vladimir Putin and Mali's interim leader Assimi Goïta have called for a political settlement in Niger, where President Mohamed Bazoum was ousted in July.
The two leaders said the Niger crisis should be resolved through political and diplomatic means.
Mr Putin and Mr Goïta also discussed bilateral relations, including talks on “anti-terror” operations, the statement said.
The Russian leader had in August also emphasised the need for a peaceful solution in Niger.
The head of Sudan's paramilitary Rapid Support Forces, Mohamed Hamdan Dagalo, has pledged to support humanitarian organisations to deliver aid to those affected by the war.
He says that RSF was ready to enhance collaboration and coordination to ensure a seamless provision of aid to those affected.
The RSF chief also vowed to safeguard the aid and ensure ease of operations for humanitarian personnel.
The Sudanese army and international rights organisations have on several occasions accused the RSF of obstructing the delivery of humanitarian aid.
The head of Sudan's paramilitary Rapid Support Forces, Mohamed Hamdan Dagalo, has pledged to support humanitarian organisations to deliver aid to those affected by the war.
He says that RSF was ready to enhance collaboration and coordination to ensure a seamless provision of aid to those affected.
The RSF chief also vowed to safeguard the aid and ensure ease of operations for humanitarian personnel.
The Sudanese army and international rights organisations have on several occasions accused the RSF of obstructing the delivery of humanitarian aid.
The head of Sudan's paramilitary Rapid Support Forces, Mohamed Hamdan Dagalo, has pledged to support humanitarian organisations to deliver aid to those affected by the war.
He says that RSF was ready to enhance collaboration and coordination to ensure a seamless provision of aid to those affected.
The RSF chief also vowed to safeguard the aid and ensure ease of operations for humanitarian personnel.
The Sudanese army and international rights organisations have on several occasions accused the RSF of obstructing the delivery of humanitarian aid.
The head of Sudan's paramilitary Rapid Support Forces, Mohamed Hamdan Dagalo, has pledged to support humanitarian organisations to deliver aid to those affected by the war.
He says that RSF was ready to enhance collaboration and coordination to ensure a seamless provision of aid to those affected.
The RSF chief also vowed to safeguard the aid and ensure ease of operations for humanitarian personnel.
The Sudanese army and international rights organisations have on several occasions accused the RSF of obstructing the delivery of humanitarian aid.
The head of Sudan's paramilitary Rapid Support Forces, Mohamed Hamdan Dagalo, has pledged to support humanitarian organisations to deliver aid to those affected by the war.
He says that RSF was ready to enhance collaboration and coordination to ensure a seamless provision of aid to those affected.
The RSF chief also vowed to safeguard the aid and ensure ease of operations for humanitarian personnel.
The Sudanese army and international rights organisations have on several occasions accused the RSF of obstructing the delivery of humanitarian aid.
The head of Sudan's paramilitary Rapid Support Forces, Mohamed Hamdan Dagalo, has pledged to support humanitarian organisations to deliver aid to those affected by the war.
He says that RSF was ready to enhance collaboration and coordination to ensure a seamless provision of aid to those affected.
The RSF chief also vowed to safeguard the aid and ensure ease of operations for humanitarian personnel.
The Sudanese army and international rights organisations have on several occasions accused the RSF of obstructing the delivery of humanitarian aid.
The Association of Bureaux De Change Operators of Nigeria has urged the Central Bank of Nigeria to grant Bureaux De Change operators digital autonomy to achieve exchange rate convergence.
The President, ABCON Dr. Aminu Gwadabe, called on the apex bank to grant a no-objection approval for the BDCs to fully go digital on all their operational correspondences.
He says the move would promote rate convergence, curb volatility in the market and promote economic growth.
He noted that granting digital autonomy to the operators, would lead to a true market rate discovery, enhance the achievement of the Federal Government harmonised foreign exchange rate policies, and promote effective monitoring of BDCs’ transactions for statutory and regulatory requirements.
The Association of Bureaux De Change Operators of Nigeria has urged the Central Bank of Nigeria to grant Bureaux De Change operators digital autonomy to achieve exchange rate convergence.
The President, ABCON Dr. Aminu Gwadabe, called on the apex bank to grant a no-objection approval for the BDCs to fully go digital on all their operational correspondences.
He says the move would promote rate convergence, curb volatility in the market and promote economic growth.
He noted that granting digital autonomy to the operators, would lead to a true market rate discovery, enhance the achievement of the Federal Government harmonised foreign exchange rate policies, and promote effective monitoring of BDCs’ transactions for statutory and regulatory requirements.
The Association of Bureaux De Change Operators of Nigeria has urged the Central Bank of Nigeria to grant Bureaux De Change operators digital autonomy to achieve exchange rate convergence.
The President, ABCON Dr. Aminu Gwadabe, called on the apex bank to grant a no-objection approval for the BDCs to fully go digital on all their operational correspondences.
He says the move would promote rate convergence, curb volatility in the market and promote economic growth.
He noted that granting digital autonomy to the operators, would lead to a true market rate discovery, enhance the achievement of the Federal Government harmonised foreign exchange rate policies, and promote effective monitoring of BDCs’ transactions for statutory and regulatory requirements.
The Association of Bureaux De Change Operators of Nigeria has urged the Central Bank of Nigeria to grant Bureaux De Change operators digital autonomy to achieve exchange rate convergence.
The President, ABCON Dr. Aminu Gwadabe, called on the apex bank to grant a no-objection approval for the BDCs to fully go digital on all their operational correspondences.
He says the move would promote rate convergence, curb volatility in the market and promote economic growth.
He noted that granting digital autonomy to the operators, would lead to a true market rate discovery, enhance the achievement of the Federal Government harmonised foreign exchange rate policies, and promote effective monitoring of BDCs’ transactions for statutory and regulatory requirements.
The Association of Bureaux De Change Operators of Nigeria has urged the Central Bank of Nigeria to grant Bureaux De Change operators digital autonomy to achieve exchange rate convergence.
The President, ABCON Dr. Aminu Gwadabe, called on the apex bank to grant a no-objection approval for the BDCs to fully go digital on all their operational correspondences.
He says the move would promote rate convergence, curb volatility in the market and promote economic growth.
He noted that granting digital autonomy to the operators, would lead to a true market rate discovery, enhance the achievement of the Federal Government harmonised foreign exchange rate policies, and promote effective monitoring of BDCs’ transactions for statutory and regulatory requirements.
The Association of Bureaux De Change Operators of Nigeria has urged the Central Bank of Nigeria to grant Bureaux De Change operators digital autonomy to achieve exchange rate convergence.
The President, ABCON Dr. Aminu Gwadabe, called on the apex bank to grant a no-objection approval for the BDCs to fully go digital on all their operational correspondences.
He says the move would promote rate convergence, curb volatility in the market and promote economic growth.
He noted that granting digital autonomy to the operators, would lead to a true market rate discovery, enhance the achievement of the Federal Government harmonised foreign exchange rate policies, and promote effective monitoring of BDCs’ transactions for statutory and regulatory requirements.
A Royal Navy warship, HMS Trent, arrived in Lagos to aid the fight against illegal activities including piracy and illicit trafficking in the sub-region.
The British High Commission says the visit will help deliver capacity training and support maritime security in the region.
HMS Trent’s mission is to support West African allies helping countries to develop capability to fight illegal crimes at sea and ensure they can play an effective role in bringing stability to wider West Africa.
HMS Trent’s Commanding Officer, Commander Tim Langford, says is an honour for HMS TRENT to return to Nigeria, an important visit on the Ship’s three-month deployment to West Africa.
A Royal Navy warship, HMS Trent, arrived in Lagos to aid the fight against illegal activities including piracy and illicit trafficking in the sub-region.
The British High Commission says the visit will help deliver capacity training and support maritime security in the region.
HMS Trent’s mission is to support West African allies helping countries to develop capability to fight illegal crimes at sea and ensure they can play an effective role in bringing stability to wider West Africa.
HMS Trent’s Commanding Officer, Commander Tim Langford, says is an honour for HMS TRENT to return to Nigeria, an important visit on the Ship’s three-month deployment to West Africa.
A Royal Navy warship, HMS Trent, arrived in Lagos to aid the fight against illegal activities including piracy and illicit trafficking in the sub-region.
The British High Commission says the visit will help deliver capacity training and support maritime security in the region.
HMS Trent’s mission is to support West African allies helping countries to develop capability to fight illegal crimes at sea and ensure they can play an effective role in bringing stability to wider West Africa.
HMS Trent’s Commanding Officer, Commander Tim Langford, says is an honour for HMS TRENT to return to Nigeria, an important visit on the Ship’s three-month deployment to West Africa.
A Royal Navy warship, HMS Trent, arrived in Lagos to aid the fight against illegal activities including piracy and illicit trafficking in the sub-region.
The British High Commission says the visit will help deliver capacity training and support maritime security in the region.
HMS Trent’s mission is to support West African allies helping countries to develop capability to fight illegal crimes at sea and ensure they can play an effective role in bringing stability to wider West Africa.
HMS Trent’s Commanding Officer, Commander Tim Langford, says is an honour for HMS TRENT to return to Nigeria, an important visit on the Ship’s three-month deployment to West Africa.
A Royal Navy warship, HMS Trent, arrived in Lagos to aid the fight against illegal activities including piracy and illicit trafficking in the sub-region.
The British High Commission says the visit will help deliver capacity training and support maritime security in the region.
HMS Trent’s mission is to support West African allies helping countries to develop capability to fight illegal crimes at sea and ensure they can play an effective role in bringing stability to wider West Africa.
HMS Trent’s Commanding Officer, Commander Tim Langford, says is an honour for HMS TRENT to return to Nigeria, an important visit on the Ship’s three-month deployment to West Africa.
A Royal Navy warship, HMS Trent, arrived in Lagos to aid the fight against illegal activities including piracy and illicit trafficking in the sub-region.
The British High Commission says the visit will help deliver capacity training and support maritime security in the region.
HMS Trent’s mission is to support West African allies helping countries to develop capability to fight illegal crimes at sea and ensure they can play an effective role in bringing stability to wider West Africa.
HMS Trent’s Commanding Officer, Commander Tim Langford, says is an honour for HMS TRENT to return to Nigeria, an important visit on the Ship’s three-month deployment to West Africa.
A former Deputy Governor of CBN, Dr Tunde Lemo, says the Central Bank of Nigeria should abandon the merger of the parallel and official exchange rate.
He says the naira is not an internationally convertible currency and a gap of not more than N50 should not worry the apex bank.
Lemo stated that the gap had presented huge arbitrage opportunities.
He further stated that there might be some issues with some of the government’s monetary policies.
A former Deputy Governor of CBN, Dr Tunde Lemo, says the Central Bank of Nigeria should abandon the merger of the parallel and official exchange rate.
He says the naira is not an internationally convertible currency and a gap of not more than N50 should not worry the apex bank.
Lemo stated that the gap had presented huge arbitrage opportunities.
He further stated that there might be some issues with some of the government’s monetary policies.
A former Deputy Governor of CBN, Dr Tunde Lemo, says the Central Bank of Nigeria should abandon the merger of the parallel and official exchange rate.
He says the naira is not an internationally convertible currency and a gap of not more than N50 should not worry the apex bank.
Lemo stated that the gap had presented huge arbitrage opportunities.
He further stated that there might be some issues with some of the government’s monetary policies.
A former Deputy Governor of CBN, Dr Tunde Lemo, says the Central Bank of Nigeria should abandon the merger of the parallel and official exchange rate.
He says the naira is not an internationally convertible currency and a gap of not more than N50 should not worry the apex bank.
Lemo stated that the gap had presented huge arbitrage opportunities.
He further stated that there might be some issues with some of the government’s monetary policies.
A former Deputy Governor of CBN, Dr Tunde Lemo, says the Central Bank of Nigeria should abandon the merger of the parallel and official exchange rate.
He says the naira is not an internationally convertible currency and a gap of not more than N50 should not worry the apex bank.
Lemo stated that the gap had presented huge arbitrage opportunities.
He further stated that there might be some issues with some of the government’s monetary policies.
A former Deputy Governor of CBN, Dr Tunde Lemo, says the Central Bank of Nigeria should abandon the merger of the parallel and official exchange rate.
He says the naira is not an internationally convertible currency and a gap of not more than N50 should not worry the apex bank.
Lemo stated that the gap had presented huge arbitrage opportunities.
He further stated that there might be some issues with some of the government’s monetary policies.
The Federal Government has obtained a loan worth one hundred and sixty-three million dollars from the African Development Bank to scale up wheat production in the country.
The vice president, Kashim Shettima, noted the Federal Government also needs ten thousand hectares of land in Kebbi State for the production of wheat.
Shettima assured that President Bola Tinubu’s government will fulfill all promises made to Nigerians particularly in the area of agriculture to ensure food security in the country.
The Federal Government has obtained a loan worth one hundred and sixty-three million dollars from the African Development Bank to scale up wheat production in the country.
The vice president, Kashim Shettima, noted the Federal Government also needs ten thousand hectares of land in Kebbi State for the production of wheat.
Shettima assured that President Bola Tinubu’s government will fulfill all promises made to Nigerians particularly in the area of agriculture to ensure food security in the country.
The Federal Government has obtained a loan worth one hundred and sixty-three million dollars from the African Development Bank to scale up wheat production in the country.
The vice president, Kashim Shettima, noted the Federal Government also needs ten thousand hectares of land in Kebbi State for the production of wheat.
Shettima assured that President Bola Tinubu’s government will fulfill all promises made to Nigerians particularly in the area of agriculture to ensure food security in the country.
The Federal Government has obtained a loan worth one hundred and sixty-three million dollars from the African Development Bank to scale up wheat production in the country.
The vice president, Kashim Shettima, noted the Federal Government also needs ten thousand hectares of land in Kebbi State for the production of wheat.
Shettima assured that President Bola Tinubu’s government will fulfill all promises made to Nigerians particularly in the area of agriculture to ensure food security in the country.
The Federal Government has obtained a loan worth one hundred and sixty-three million dollars from the African Development Bank to scale up wheat production in the country.
The vice president, Kashim Shettima, noted the Federal Government also needs ten thousand hectares of land in Kebbi State for the production of wheat.
Shettima assured that President Bola Tinubu’s government will fulfill all promises made to Nigerians particularly in the area of agriculture to ensure food security in the country.
The Federal Government has obtained a loan worth one hundred and sixty-three million dollars from the African Development Bank to scale up wheat production in the country.
The vice president, Kashim Shettima, noted the Federal Government also needs ten thousand hectares of land in Kebbi State for the production of wheat.
Shettima assured that President Bola Tinubu’s government will fulfill all promises made to Nigerians particularly in the area of agriculture to ensure food security in the country.
Shares in Apple have fallen for a second day in a row after reports that Chinese government workers have been banned from using iPhones.
The firm's stock market valuation has fallen by more than 6%, or almost $200bn in the last two days.
The Wall Street Journal reported that Beijing had ordered central government agency officials to not bring iPhones into the office or use them for work.
The ban may also be imposed on workers at state-owned companies and government-backed agencies.
The reports came ahead of the launch of the iPhone 15, which is expected to take place on 12 September
Shares in Apple have fallen for a second day in a row after reports that Chinese government workers have been banned from using iPhones.
The firm's stock market valuation has fallen by more than 6%, or almost $200bn in the last two days.
The Wall Street Journal reported that Beijing had ordered central government agency officials to not bring iPhones into the office or use them for work.
The ban may also be imposed on workers at state-owned companies and government-backed agencies.
The reports came ahead of the launch of the iPhone 15, which is expected to take place on 12 September
Shares in Apple have fallen for a second day in a row after reports that Chinese government workers have been banned from using iPhones.
The firm's stock market valuation has fallen by more than 6%, or almost $200bn in the last two days.
The Wall Street Journal reported that Beijing had ordered central government agency officials to not bring iPhones into the office or use them for work.
The ban may also be imposed on workers at state-owned companies and government-backed agencies.
The reports came ahead of the launch of the iPhone 15, which is expected to take place on 12 September
Shares in Apple have fallen for a second day in a row after reports that Chinese government workers have been banned from using iPhones.
The firm's stock market valuation has fallen by more than 6%, or almost $200bn in the last two days.
The Wall Street Journal reported that Beijing had ordered central government agency officials to not bring iPhones into the office or use them for work.
The ban may also be imposed on workers at state-owned companies and government-backed agencies.
The reports came ahead of the launch of the iPhone 15, which is expected to take place on 12 September
Shares in Apple have fallen for a second day in a row after reports that Chinese government workers have been banned from using iPhones.
The firm's stock market valuation has fallen by more than 6%, or almost $200bn in the last two days.
The Wall Street Journal reported that Beijing had ordered central government agency officials to not bring iPhones into the office or use them for work.
The ban may also be imposed on workers at state-owned companies and government-backed agencies.
The reports came ahead of the launch of the iPhone 15, which is expected to take place on 12 September
Shares in Apple have fallen for a second day in a row after reports that Chinese government workers have been banned from using iPhones.
The firm's stock market valuation has fallen by more than 6%, or almost $200bn in the last two days.
The Wall Street Journal reported that Beijing had ordered central government agency officials to not bring iPhones into the office or use them for work.
The ban may also be imposed on workers at state-owned companies and government-backed agencies.
The reports came ahead of the launch of the iPhone 15, which is expected to take place on 12 September
US Secretary of State Antony Blinken announced $1 billion of aid during a surprise visit to Ukraine, which suffered a Russian strike that killed at least 17 people at a market.
The attack, which President Volodymyr Zelensky described as deliberate and “heinous”, drew international condemnation from the West, including accusations of war crimes.
Projectiles tore through the centre of Kostiantynivka — a town of nearly 70,000 people in the eastern Donetsk region — in one of the deadliest strikes in weeks.
US Secretary of State Antony Blinken announced $1 billion of aid during a surprise visit to Ukraine, which suffered a Russian strike that killed at least 17 people at a market.
The attack, which President Volodymyr Zelensky described as deliberate and “heinous”, drew international condemnation from the West, including accusations of war crimes.
Projectiles tore through the centre of Kostiantynivka — a town of nearly 70,000 people in the eastern Donetsk region — in one of the deadliest strikes in weeks.
US Secretary of State Antony Blinken announced $1 billion of aid during a surprise visit to Ukraine, which suffered a Russian strike that killed at least 17 people at a market.
The attack, which President Volodymyr Zelensky described as deliberate and “heinous”, drew international condemnation from the West, including accusations of war crimes.
Projectiles tore through the centre of Kostiantynivka — a town of nearly 70,000 people in the eastern Donetsk region — in one of the deadliest strikes in weeks.
US Secretary of State Antony Blinken announced $1 billion of aid during a surprise visit to Ukraine, which suffered a Russian strike that killed at least 17 people at a market.
The attack, which President Volodymyr Zelensky described as deliberate and “heinous”, drew international condemnation from the West, including accusations of war crimes.
Projectiles tore through the centre of Kostiantynivka — a town of nearly 70,000 people in the eastern Donetsk region — in one of the deadliest strikes in weeks.
US Secretary of State Antony Blinken announced $1 billion of aid during a surprise visit to Ukraine, which suffered a Russian strike that killed at least 17 people at a market.
The attack, which President Volodymyr Zelensky described as deliberate and “heinous”, drew international condemnation from the West, including accusations of war crimes.
Projectiles tore through the centre of Kostiantynivka — a town of nearly 70,000 people in the eastern Donetsk region — in one of the deadliest strikes in weeks.
US Secretary of State Antony Blinken announced $1 billion of aid during a surprise visit to Ukraine, which suffered a Russian strike that killed at least 17 people at a market.
The attack, which President Volodymyr Zelensky described as deliberate and “heinous”, drew international condemnation from the West, including accusations of war crimes.
Projectiles tore through the centre of Kostiantynivka — a town of nearly 70,000 people in the eastern Donetsk region — in one of the deadliest strikes in weeks.
Niger's junta says it has reopened the country's airspace to commercial flights.
Niger is more than twice the size of France and is the second-largest landlocked country in Africa, covering an area of 1,270,000 square kilometres
Niger's rulers did not give an immediate explanation for the move to reopen the country's airspace.
Prime Minister Ali Mahaman Lamine Zeine, says that Niamey hoped to reach a deal with ECOWAS.
He however also underscored the junta's intention to defend itself if the bloc proceeds with its threat to mount a military intervention.
Niger's junta says it has reopened the country's airspace to commercial flights.
Niger is more than twice the size of France and is the second-largest landlocked country in Africa, covering an area of 1,270,000 square kilometres
Niger's rulers did not give an immediate explanation for the move to reopen the country's airspace.
Prime Minister Ali Mahaman Lamine Zeine, says that Niamey hoped to reach a deal with ECOWAS.
He however also underscored the junta's intention to defend itself if the bloc proceeds with its threat to mount a military intervention.
Niger's junta says it has reopened the country's airspace to commercial flights.
Niger is more than twice the size of France and is the second-largest landlocked country in Africa, covering an area of 1,270,000 square kilometres
Niger's rulers did not give an immediate explanation for the move to reopen the country's airspace.
Prime Minister Ali Mahaman Lamine Zeine, says that Niamey hoped to reach a deal with ECOWAS.
He however also underscored the junta's intention to defend itself if the bloc proceeds with its threat to mount a military intervention.
Niger's junta says it has reopened the country's airspace to commercial flights.
Niger is more than twice the size of France and is the second-largest landlocked country in Africa, covering an area of 1,270,000 square kilometres
Niger's rulers did not give an immediate explanation for the move to reopen the country's airspace.
Prime Minister Ali Mahaman Lamine Zeine, says that Niamey hoped to reach a deal with ECOWAS.
He however also underscored the junta's intention to defend itself if the bloc proceeds with its threat to mount a military intervention.
Niger's junta says it has reopened the country's airspace to commercial flights.
Niger is more than twice the size of France and is the second-largest landlocked country in Africa, covering an area of 1,270,000 square kilometres
Niger's rulers did not give an immediate explanation for the move to reopen the country's airspace.
Prime Minister Ali Mahaman Lamine Zeine, says that Niamey hoped to reach a deal with ECOWAS.
He however also underscored the junta's intention to defend itself if the bloc proceeds with its threat to mount a military intervention.
Niger's junta says it has reopened the country's airspace to commercial flights.
Niger is more than twice the size of France and is the second-largest landlocked country in Africa, covering an area of 1,270,000 square kilometres
Niger's rulers did not give an immediate explanation for the move to reopen the country's airspace.
Prime Minister Ali Mahaman Lamine Zeine, says that Niamey hoped to reach a deal with ECOWAS.
He however also underscored the junta's intention to defend itself if the bloc proceeds with its threat to mount a military intervention.
The UN’s Office for the Coordination of Humanitarian Affairs says Humanitarian agencies in South Sudan have been forced to reduce aid amidst a funding crisis and aggravated humanitarian situation.
A total of 7.76 million people face catastrophic levels of need, but resourcing shortfalls mean emergency food assistance will now be prioritised for 3.2 million people who face the highest levels of food insecurity.
Makena Walker, acting country director for the UN’s World Food Programme says the simple fact is that there are not enough resources available to the humanitarian community to meet the needs in South Sudan.
The UN’s Office for the Coordination of Humanitarian Affairs says Humanitarian agencies in South Sudan have been forced to reduce aid amidst a funding crisis and aggravated humanitarian situation.
A total of 7.76 million people face catastrophic levels of need, but resourcing shortfalls mean emergency food assistance will now be prioritised for 3.2 million people who face the highest levels of food insecurity.
Makena Walker, acting country director for the UN’s World Food Programme says the simple fact is that there are not enough resources available to the humanitarian community to meet the needs in South Sudan.
The UN’s Office for the Coordination of Humanitarian Affairs says Humanitarian agencies in South Sudan have been forced to reduce aid amidst a funding crisis and aggravated humanitarian situation.
A total of 7.76 million people face catastrophic levels of need, but resourcing shortfalls mean emergency food assistance will now be prioritised for 3.2 million people who face the highest levels of food insecurity.
Makena Walker, acting country director for the UN’s World Food Programme says the simple fact is that there are not enough resources available to the humanitarian community to meet the needs in South Sudan.
The UN’s Office for the Coordination of Humanitarian Affairs says Humanitarian agencies in South Sudan have been forced to reduce aid amidst a funding crisis and aggravated humanitarian situation.
A total of 7.76 million people face catastrophic levels of need, but resourcing shortfalls mean emergency food assistance will now be prioritised for 3.2 million people who face the highest levels of food insecurity.
Makena Walker, acting country director for the UN’s World Food Programme says the simple fact is that there are not enough resources available to the humanitarian community to meet the needs in South Sudan.
The UN’s Office for the Coordination of Humanitarian Affairs says Humanitarian agencies in South Sudan have been forced to reduce aid amidst a funding crisis and aggravated humanitarian situation.
A total of 7.76 million people face catastrophic levels of need, but resourcing shortfalls mean emergency food assistance will now be prioritised for 3.2 million people who face the highest levels of food insecurity.
Makena Walker, acting country director for the UN’s World Food Programme says the simple fact is that there are not enough resources available to the humanitarian community to meet the needs in South Sudan.
The UN’s Office for the Coordination of Humanitarian Affairs says Humanitarian agencies in South Sudan have been forced to reduce aid amidst a funding crisis and aggravated humanitarian situation.
A total of 7.76 million people face catastrophic levels of need, but resourcing shortfalls mean emergency food assistance will now be prioritised for 3.2 million people who face the highest levels of food insecurity.
Makena Walker, acting country director for the UN’s World Food Programme says the simple fact is that there are not enough resources available to the humanitarian community to meet the needs in South Sudan.
The acting Comptroller-General of the Nigeria Customs Service, Adewale Adeniyi, has ordered the deactivation of some banks over their failure to remit duties collected.
Adeniyi says some authorised dealer banks were failing to meet service-level agreements with respect to customs duty and statutory charge remittances, hence the banks were deactivated.
He says the decision follows a thorough audit and due process that aligned with the NCS’ commitment to upholding transparency, accountability, and efficiency in revenue collection.
He stated that measures had been put in place to minimise disruptions for importers and stakeholders within the trading ecosystem.
The acting Comptroller-General of the Nigeria Customs Service, Adewale Adeniyi, has ordered the deactivation of some banks over their failure to remit duties collected.
Adeniyi says some authorised dealer banks were failing to meet service-level agreements with respect to customs duty and statutory charge remittances, hence the banks were deactivated.
He says the decision follows a thorough audit and due process that aligned with the NCS’ commitment to upholding transparency, accountability, and efficiency in revenue collection.
He stated that measures had been put in place to minimise disruptions for importers and stakeholders within the trading ecosystem.
The acting Comptroller-General of the Nigeria Customs Service, Adewale Adeniyi, has ordered the deactivation of some banks over their failure to remit duties collected.
Adeniyi says some authorised dealer banks were failing to meet service-level agreements with respect to customs duty and statutory charge remittances, hence the banks were deactivated.
He says the decision follows a thorough audit and due process that aligned with the NCS’ commitment to upholding transparency, accountability, and efficiency in revenue collection.
He stated that measures had been put in place to minimise disruptions for importers and stakeholders within the trading ecosystem.
The acting Comptroller-General of the Nigeria Customs Service, Adewale Adeniyi, has ordered the deactivation of some banks over their failure to remit duties collected.
Adeniyi says some authorised dealer banks were failing to meet service-level agreements with respect to customs duty and statutory charge remittances, hence the banks were deactivated.
He says the decision follows a thorough audit and due process that aligned with the NCS’ commitment to upholding transparency, accountability, and efficiency in revenue collection.
He stated that measures had been put in place to minimise disruptions for importers and stakeholders within the trading ecosystem.
The acting Comptroller-General of the Nigeria Customs Service, Adewale Adeniyi, has ordered the deactivation of some banks over their failure to remit duties collected.
Adeniyi says some authorised dealer banks were failing to meet service-level agreements with respect to customs duty and statutory charge remittances, hence the banks were deactivated.
He says the decision follows a thorough audit and due process that aligned with the NCS’ commitment to upholding transparency, accountability, and efficiency in revenue collection.
He stated that measures had been put in place to minimise disruptions for importers and stakeholders within the trading ecosystem.
The acting Comptroller-General of the Nigeria Customs Service, Adewale Adeniyi, has ordered the deactivation of some banks over their failure to remit duties collected.
Adeniyi says some authorised dealer banks were failing to meet service-level agreements with respect to customs duty and statutory charge remittances, hence the banks were deactivated.
He says the decision follows a thorough audit and due process that aligned with the NCS’ commitment to upholding transparency, accountability, and efficiency in revenue collection.
He stated that measures had been put in place to minimise disruptions for importers and stakeholders within the trading ecosystem.
The Presidential Candidate of the Labour Party, Peter Obi, has rejected the judgment of the Presidential Election Petitions Court describing it as against justice.
Obi acknowledged the Tribunal’s adherence to the statutory time frame and expressed respect for the court’s views and rulings but disagreed with the judgment’s rationale and final conclusions.
He announced his intention, in his capacity as a presidential candidate and on behalf of the Labour Party, to immediately challenge the judgment through the appellate process, as permitted by the Constitution of the Federal Republic of Nigeria.
He urged Nigerians to maintain their focus, steadfastness, and commitment to peaceful processes while emphasising the importance of adhering to the rule of law.
The Presidential Candidate of the Labour Party, Peter Obi, has rejected the judgment of the Presidential Election Petitions Court describing it as against justice.
Obi acknowledged the Tribunal’s adherence to the statutory time frame and expressed respect for the court’s views and rulings but disagreed with the judgment’s rationale and final conclusions.
He announced his intention, in his capacity as a presidential candidate and on behalf of the Labour Party, to immediately challenge the judgment through the appellate process, as permitted by the Constitution of the Federal Republic of Nigeria.
He urged Nigerians to maintain their focus, steadfastness, and commitment to peaceful processes while emphasising the importance of adhering to the rule of law.
The Presidential Candidate of the Labour Party, Peter Obi, has rejected the judgment of the Presidential Election Petitions Court describing it as against justice.
Obi acknowledged the Tribunal’s adherence to the statutory time frame and expressed respect for the court’s views and rulings but disagreed with the judgment’s rationale and final conclusions.
He announced his intention, in his capacity as a presidential candidate and on behalf of the Labour Party, to immediately challenge the judgment through the appellate process, as permitted by the Constitution of the Federal Republic of Nigeria.
He urged Nigerians to maintain their focus, steadfastness, and commitment to peaceful processes while emphasising the importance of adhering to the rule of law.
The Presidential Candidate of the Labour Party, Peter Obi, has rejected the judgment of the Presidential Election Petitions Court describing it as against justice.
Obi acknowledged the Tribunal’s adherence to the statutory time frame and expressed respect for the court’s views and rulings but disagreed with the judgment’s rationale and final conclusions.
He announced his intention, in his capacity as a presidential candidate and on behalf of the Labour Party, to immediately challenge the judgment through the appellate process, as permitted by the Constitution of the Federal Republic of Nigeria.
He urged Nigerians to maintain their focus, steadfastness, and commitment to peaceful processes while emphasising the importance of adhering to the rule of law.
The Presidential Candidate of the Labour Party, Peter Obi, has rejected the judgment of the Presidential Election Petitions Court describing it as against justice.
Obi acknowledged the Tribunal’s adherence to the statutory time frame and expressed respect for the court’s views and rulings but disagreed with the judgment’s rationale and final conclusions.
He announced his intention, in his capacity as a presidential candidate and on behalf of the Labour Party, to immediately challenge the judgment through the appellate process, as permitted by the Constitution of the Federal Republic of Nigeria.
He urged Nigerians to maintain their focus, steadfastness, and commitment to peaceful processes while emphasising the importance of adhering to the rule of law.
The Presidential Candidate of the Labour Party, Peter Obi, has rejected the judgment of the Presidential Election Petitions Court describing it as against justice.
Obi acknowledged the Tribunal’s adherence to the statutory time frame and expressed respect for the court’s views and rulings but disagreed with the judgment’s rationale and final conclusions.
He announced his intention, in his capacity as a presidential candidate and on behalf of the Labour Party, to immediately challenge the judgment through the appellate process, as permitted by the Constitution of the Federal Republic of Nigeria.
He urged Nigerians to maintain their focus, steadfastness, and commitment to peaceful processes while emphasising the importance of adhering to the rule of law.
Thousands of Pakistan traders have shuttered their shops, striking over soaring energy and fuel bills stirring widespread discontent ahead of national elections.
There were widespread market closures in Lahore, Karachi and Peshawar, where abandoned bazaars were posted with placards decrying the unreasonable increase in electricity bills and taxes.
Lahore’s Township Traders Union president Ajmal Hashmi says everyone is participating because the situation has become unbearable now.
Decades of mismanagement and instability have hobbled Pakistan’s economy, and this summer Islamabad was forced into a deal with the International Monetary Fund to avert default.
Thousands of Pakistan traders have shuttered their shops, striking over soaring energy and fuel bills stirring widespread discontent ahead of national elections.
There were widespread market closures in Lahore, Karachi and Peshawar, where abandoned bazaars were posted with placards decrying the unreasonable increase in electricity bills and taxes.
Lahore’s Township Traders Union president Ajmal Hashmi says everyone is participating because the situation has become unbearable now.
Decades of mismanagement and instability have hobbled Pakistan’s economy, and this summer Islamabad was forced into a deal with the International Monetary Fund to avert default.
Thousands of Pakistan traders have shuttered their shops, striking over soaring energy and fuel bills stirring widespread discontent ahead of national elections.
There were widespread market closures in Lahore, Karachi and Peshawar, where abandoned bazaars were posted with placards decrying the unreasonable increase in electricity bills and taxes.
Lahore’s Township Traders Union president Ajmal Hashmi says everyone is participating because the situation has become unbearable now.
Decades of mismanagement and instability have hobbled Pakistan’s economy, and this summer Islamabad was forced into a deal with the International Monetary Fund to avert default.
Thousands of Pakistan traders have shuttered their shops, striking over soaring energy and fuel bills stirring widespread discontent ahead of national elections.
There were widespread market closures in Lahore, Karachi and Peshawar, where abandoned bazaars were posted with placards decrying the unreasonable increase in electricity bills and taxes.
Lahore’s Township Traders Union president Ajmal Hashmi says everyone is participating because the situation has become unbearable now.
Decades of mismanagement and instability have hobbled Pakistan’s economy, and this summer Islamabad was forced into a deal with the International Monetary Fund to avert default.
Thousands of Pakistan traders have shuttered their shops, striking over soaring energy and fuel bills stirring widespread discontent ahead of national elections.
There were widespread market closures in Lahore, Karachi and Peshawar, where abandoned bazaars were posted with placards decrying the unreasonable increase in electricity bills and taxes.
Lahore’s Township Traders Union president Ajmal Hashmi says everyone is participating because the situation has become unbearable now.
Decades of mismanagement and instability have hobbled Pakistan’s economy, and this summer Islamabad was forced into a deal with the International Monetary Fund to avert default.
Thousands of Pakistan traders have shuttered their shops, striking over soaring energy and fuel bills stirring widespread discontent ahead of national elections.
There were widespread market closures in Lahore, Karachi and Peshawar, where abandoned bazaars were posted with placards decrying the unreasonable increase in electricity bills and taxes.
Lahore’s Township Traders Union president Ajmal Hashmi says everyone is participating because the situation has become unbearable now.
Decades of mismanagement and instability have hobbled Pakistan’s economy, and this summer Islamabad was forced into a deal with the International Monetary Fund to avert default.
The United States has announced a new visa restriction for Sierra Leoneans, attempting to undermine the June 2023 Presidential Election in the neighbouring country.
The Secretary of State, Antony Blinken, says the visa restriction policy will apply to specific individuals and is not directed at the Sierra Leonean people.
He noted that this decision reflects the commitment of the United States to support Sierra Leoneans' aspirations to have free and fair elections that demonstrate the will of the people and strengthen democracy and the rule of law.
The announcement comes at a time when Africa is gradually slipping back to military rule, scratching democratic rule, particularly in Francophone West Africa with the latest being Gabon.
The United States has announced a new visa restriction for Sierra Leoneans, attempting to undermine the June 2023 Presidential Election in the neighbouring country.
The Secretary of State, Antony Blinken, says the visa restriction policy will apply to specific individuals and is not directed at the Sierra Leonean people.
He noted that this decision reflects the commitment of the United States to support Sierra Leoneans' aspirations to have free and fair elections that demonstrate the will of the people and strengthen democracy and the rule of law.
The announcement comes at a time when Africa is gradually slipping back to military rule, scratching democratic rule, particularly in Francophone West Africa with the latest being Gabon.
The United States has announced a new visa restriction for Sierra Leoneans, attempting to undermine the June 2023 Presidential Election in the neighbouring country.
The Secretary of State, Antony Blinken, says the visa restriction policy will apply to specific individuals and is not directed at the Sierra Leonean people.
He noted that this decision reflects the commitment of the United States to support Sierra Leoneans' aspirations to have free and fair elections that demonstrate the will of the people and strengthen democracy and the rule of law.
The announcement comes at a time when Africa is gradually slipping back to military rule, scratching democratic rule, particularly in Francophone West Africa with the latest being Gabon.
The United States has announced a new visa restriction for Sierra Leoneans, attempting to undermine the June 2023 Presidential Election in the neighbouring country.
The Secretary of State, Antony Blinken, says the visa restriction policy will apply to specific individuals and is not directed at the Sierra Leonean people.
He noted that this decision reflects the commitment of the United States to support Sierra Leoneans' aspirations to have free and fair elections that demonstrate the will of the people and strengthen democracy and the rule of law.
The announcement comes at a time when Africa is gradually slipping back to military rule, scratching democratic rule, particularly in Francophone West Africa with the latest being Gabon.
The United States has announced a new visa restriction for Sierra Leoneans, attempting to undermine the June 2023 Presidential Election in the neighbouring country.
The Secretary of State, Antony Blinken, says the visa restriction policy will apply to specific individuals and is not directed at the Sierra Leonean people.
He noted that this decision reflects the commitment of the United States to support Sierra Leoneans' aspirations to have free and fair elections that demonstrate the will of the people and strengthen democracy and the rule of law.
The announcement comes at a time when Africa is gradually slipping back to military rule, scratching democratic rule, particularly in Francophone West Africa with the latest being Gabon.
The United States has announced a new visa restriction for Sierra Leoneans, attempting to undermine the June 2023 Presidential Election in the neighbouring country.
The Secretary of State, Antony Blinken, says the visa restriction policy will apply to specific individuals and is not directed at the Sierra Leonean people.
He noted that this decision reflects the commitment of the United States to support Sierra Leoneans' aspirations to have free and fair elections that demonstrate the will of the people and strengthen democracy and the rule of law.
The announcement comes at a time when Africa is gradually slipping back to military rule, scratching democratic rule, particularly in Francophone West Africa with the latest being Gabon.
Niger's ruling junta has ordered police to expel France's ambassador which follows an announcement by French President Emmanuel Macron that France's ambassador to Niger would stay in the country.
Macron reiterated Paris' support for ousted President Mohammed Bazoum, who was overthrown by Niger's military leadership.
The junta leadership has been urged by Western countries and the West African bloc Ecowas to reinstate the ousted president.
Macron says their policy is the right one which is based on the courage of President Bazoum, and on the commitments of their ambassador who is remaining despite all the pressure, despite all the declarations made by the illegitimate authorities.
Niger's ruling junta has ordered police to expel France's ambassador which follows an announcement by French President Emmanuel Macron that France's ambassador to Niger would stay in the country.
Macron reiterated Paris' support for ousted President Mohammed Bazoum, who was overthrown by Niger's military leadership.
The junta leadership has been urged by Western countries and the West African bloc Ecowas to reinstate the ousted president.
Macron says their policy is the right one which is based on the courage of President Bazoum, and on the commitments of their ambassador who is remaining despite all the pressure, despite all the declarations made by the illegitimate authorities.
Niger's ruling junta has ordered police to expel France's ambassador which follows an announcement by French President Emmanuel Macron that France's ambassador to Niger would stay in the country.
Macron reiterated Paris' support for ousted President Mohammed Bazoum, who was overthrown by Niger's military leadership.
The junta leadership has been urged by Western countries and the West African bloc Ecowas to reinstate the ousted president.
Macron says their policy is the right one which is based on the courage of President Bazoum, and on the commitments of their ambassador who is remaining despite all the pressure, despite all the declarations made by the illegitimate authorities.
Niger's ruling junta has ordered police to expel France's ambassador which follows an announcement by French President Emmanuel Macron that France's ambassador to Niger would stay in the country.
Macron reiterated Paris' support for ousted President Mohammed Bazoum, who was overthrown by Niger's military leadership.
The junta leadership has been urged by Western countries and the West African bloc Ecowas to reinstate the ousted president.
Macron says their policy is the right one which is based on the courage of President Bazoum, and on the commitments of their ambassador who is remaining despite all the pressure, despite all the declarations made by the illegitimate authorities.
Niger's ruling junta has ordered police to expel France's ambassador which follows an announcement by French President Emmanuel Macron that France's ambassador to Niger would stay in the country.
Macron reiterated Paris' support for ousted President Mohammed Bazoum, who was overthrown by Niger's military leadership.
The junta leadership has been urged by Western countries and the West African bloc Ecowas to reinstate the ousted president.
Macron says their policy is the right one which is based on the courage of President Bazoum, and on the commitments of their ambassador who is remaining despite all the pressure, despite all the declarations made by the illegitimate authorities.
Niger's ruling junta has ordered police to expel France's ambassador which follows an announcement by French President Emmanuel Macron that France's ambassador to Niger would stay in the country.
Macron reiterated Paris' support for ousted President Mohammed Bazoum, who was overthrown by Niger's military leadership.
The junta leadership has been urged by Western countries and the West African bloc Ecowas to reinstate the ousted president.
Macron says their policy is the right one which is based on the courage of President Bazoum, and on the commitments of their ambassador who is remaining despite all the pressure, despite all the declarations made by the illegitimate authorities.
President Cyril Ramaphosa says an independent inquiry has found no evidence that South Africa supplied weapons to Russia.
The panel rejected claims made by the US ambassador to South Africa that a Russian ship was loaded with ammunition and arms in Cape Town last December.
Mr Ramaphosa says it had damaged the nation's currency and reputation.
"The panel found that there was no evidence to support the claim that the ship transported weapons from South Africa destined for Russia," the president said in a televised address to the nation on Sunday.
The inquiry found instead that the Russian cargo ship had delivered a consignment of weapons from Russia to South Africa, ordered in 2018.
President Cyril Ramaphosa says an independent inquiry has found no evidence that South Africa supplied weapons to Russia.
The panel rejected claims made by the US ambassador to South Africa that a Russian ship was loaded with ammunition and arms in Cape Town last December.
Mr Ramaphosa says it had damaged the nation's currency and reputation.
"The panel found that there was no evidence to support the claim that the ship transported weapons from South Africa destined for Russia," the president said in a televised address to the nation on Sunday.
The inquiry found instead that the Russian cargo ship had delivered a consignment of weapons from Russia to South Africa, ordered in 2018.
President Cyril Ramaphosa says an independent inquiry has found no evidence that South Africa supplied weapons to Russia.
The panel rejected claims made by the US ambassador to South Africa that a Russian ship was loaded with ammunition and arms in Cape Town last December.
Mr Ramaphosa says it had damaged the nation's currency and reputation.
"The panel found that there was no evidence to support the claim that the ship transported weapons from South Africa destined for Russia," the president said in a televised address to the nation on Sunday.
The inquiry found instead that the Russian cargo ship had delivered a consignment of weapons from Russia to South Africa, ordered in 2018.
President Cyril Ramaphosa says an independent inquiry has found no evidence that South Africa supplied weapons to Russia.
The panel rejected claims made by the US ambassador to South Africa that a Russian ship was loaded with ammunition and arms in Cape Town last December.
Mr Ramaphosa says it had damaged the nation's currency and reputation.
"The panel found that there was no evidence to support the claim that the ship transported weapons from South Africa destined for Russia," the president said in a televised address to the nation on Sunday.
The inquiry found instead that the Russian cargo ship had delivered a consignment of weapons from Russia to South Africa, ordered in 2018.
President Cyril Ramaphosa says an independent inquiry has found no evidence that South Africa supplied weapons to Russia.
The panel rejected claims made by the US ambassador to South Africa that a Russian ship was loaded with ammunition and arms in Cape Town last December.
Mr Ramaphosa says it had damaged the nation's currency and reputation.
"The panel found that there was no evidence to support the claim that the ship transported weapons from South Africa destined for Russia," the president said in a televised address to the nation on Sunday.
The inquiry found instead that the Russian cargo ship had delivered a consignment of weapons from Russia to South Africa, ordered in 2018.
President Cyril Ramaphosa says an independent inquiry has found no evidence that South Africa supplied weapons to Russia.
The panel rejected claims made by the US ambassador to South Africa that a Russian ship was loaded with ammunition and arms in Cape Town last December.
Mr Ramaphosa says it had damaged the nation's currency and reputation.
"The panel found that there was no evidence to support the claim that the ship transported weapons from South Africa destined for Russia," the president said in a televised address to the nation on Sunday.
The inquiry found instead that the Russian cargo ship had delivered a consignment of weapons from Russia to South Africa, ordered in 2018.
The head of the military junta in Gabon, Gen Brice Oligui Nguema, is due to be sworn into office as the interim president of the country.
The army toppled President Ali Bongo shortly after he was declared the winner of a disputed election.
Supporters of the military leadership in Gabon are expected to attend the inauguration of Gen Nguema.
The mood in the country is calm but with heightened security.
Gen Nguema says he won’t rush to return the country to civilian rule, to avoid past mistakes.
The head of the military junta in Gabon, Gen Brice Oligui Nguema, is due to be sworn into office as the interim president of the country.
The army toppled President Ali Bongo shortly after he was declared the winner of a disputed election.
Supporters of the military leadership in Gabon are expected to attend the inauguration of Gen Nguema.
The mood in the country is calm but with heightened security.
Gen Nguema says he won’t rush to return the country to civilian rule, to avoid past mistakes.
The head of the military junta in Gabon, Gen Brice Oligui Nguema, is due to be sworn into office as the interim president of the country.
The army toppled President Ali Bongo shortly after he was declared the winner of a disputed election.
Supporters of the military leadership in Gabon are expected to attend the inauguration of Gen Nguema.
The mood in the country is calm but with heightened security.
Gen Nguema says he won’t rush to return the country to civilian rule, to avoid past mistakes.
The head of the military junta in Gabon, Gen Brice Oligui Nguema, is due to be sworn into office as the interim president of the country.
The army toppled President Ali Bongo shortly after he was declared the winner of a disputed election.
Supporters of the military leadership in Gabon are expected to attend the inauguration of Gen Nguema.
The mood in the country is calm but with heightened security.
Gen Nguema says he won’t rush to return the country to civilian rule, to avoid past mistakes.
The head of the military junta in Gabon, Gen Brice Oligui Nguema, is due to be sworn into office as the interim president of the country.
The army toppled President Ali Bongo shortly after he was declared the winner of a disputed election.
Supporters of the military leadership in Gabon are expected to attend the inauguration of Gen Nguema.
The mood in the country is calm but with heightened security.
Gen Nguema says he won’t rush to return the country to civilian rule, to avoid past mistakes.
The head of the military junta in Gabon, Gen Brice Oligui Nguema, is due to be sworn into office as the interim president of the country.
The army toppled President Ali Bongo shortly after he was declared the winner of a disputed election.
Supporters of the military leadership in Gabon are expected to attend the inauguration of Gen Nguema.
The mood in the country is calm but with heightened security.
Gen Nguema says he won’t rush to return the country to civilian rule, to avoid past mistakes.
The Federal Government says the electricity meter upgrade process to be implemented by power distribution companies would not affect the credit units balance in the meters.
The Nigerian Electricity Management Services Agency stressed that NEMSA would ensure that all electricity meters and instruments deployed in the sector were of the right standard.
The Managing Director, of NEMSA, Aliyu Tahir, stated that meter upgrade is a one-time process and subsequent energy token purchases will continue as usual after the upgrade has been completed.
The Federal Government says the electricity meter upgrade process to be implemented by power distribution companies would not affect the credit units balance in the meters.
The Nigerian Electricity Management Services Agency stressed that NEMSA would ensure that all electricity meters and instruments deployed in the sector were of the right standard.
The Managing Director, of NEMSA, Aliyu Tahir, stated that meter upgrade is a one-time process and subsequent energy token purchases will continue as usual after the upgrade has been completed.
The Federal Government says the electricity meter upgrade process to be implemented by power distribution companies would not affect the credit units balance in the meters.
The Nigerian Electricity Management Services Agency stressed that NEMSA would ensure that all electricity meters and instruments deployed in the sector were of the right standard.
The Managing Director, of NEMSA, Aliyu Tahir, stated that meter upgrade is a one-time process and subsequent energy token purchases will continue as usual after the upgrade has been completed.
The Federal Government says the electricity meter upgrade process to be implemented by power distribution companies would not affect the credit units balance in the meters.
The Nigerian Electricity Management Services Agency stressed that NEMSA would ensure that all electricity meters and instruments deployed in the sector were of the right standard.
The Managing Director, of NEMSA, Aliyu Tahir, stated that meter upgrade is a one-time process and subsequent energy token purchases will continue as usual after the upgrade has been completed.
The Federal Government says the electricity meter upgrade process to be implemented by power distribution companies would not affect the credit units balance in the meters.
The Nigerian Electricity Management Services Agency stressed that NEMSA would ensure that all electricity meters and instruments deployed in the sector were of the right standard.
The Managing Director, of NEMSA, Aliyu Tahir, stated that meter upgrade is a one-time process and subsequent energy token purchases will continue as usual after the upgrade has been completed.
The Federal Government says the electricity meter upgrade process to be implemented by power distribution companies would not affect the credit units balance in the meters.
The Nigerian Electricity Management Services Agency stressed that NEMSA would ensure that all electricity meters and instruments deployed in the sector were of the right standard.
The Managing Director, of NEMSA, Aliyu Tahir, stated that meter upgrade is a one-time process and subsequent energy token purchases will continue as usual after the upgrade has been completed.
The Federal Government has issued a 30-day ultimatum to illegal miners to desist from such activities in the country.
The Minister of Solid Minerals Development, Dele Alake, explained that all efforts to formalize unlicensed miners into cooperatives have proved abortive.
He further stated that the ministry will review all mining licenses in the country as part of its transformation agenda.
Other transformation agendas listed by the minister are the formation of the Nigerian Solid Minerals Cooperation, joint ventures with mining multinationals, setting up of mine police/task force, and generation of data for solid minerals in Nigeria.
The Federal Government has issued a 30-day ultimatum to illegal miners to desist from such activities in the country.
The Minister of Solid Minerals Development, Dele Alake, explained that all efforts to formalize unlicensed miners into cooperatives have proved abortive.
He further stated that the ministry will review all mining licenses in the country as part of its transformation agenda.
Other transformation agendas listed by the minister are the formation of the Nigerian Solid Minerals Cooperation, joint ventures with mining multinationals, setting up of mine police/task force, and generation of data for solid minerals in Nigeria.
The Federal Government has issued a 30-day ultimatum to illegal miners to desist from such activities in the country.
The Minister of Solid Minerals Development, Dele Alake, explained that all efforts to formalize unlicensed miners into cooperatives have proved abortive.
He further stated that the ministry will review all mining licenses in the country as part of its transformation agenda.
Other transformation agendas listed by the minister are the formation of the Nigerian Solid Minerals Cooperation, joint ventures with mining multinationals, setting up of mine police/task force, and generation of data for solid minerals in Nigeria.
The Federal Government has issued a 30-day ultimatum to illegal miners to desist from such activities in the country.
The Minister of Solid Minerals Development, Dele Alake, explained that all efforts to formalize unlicensed miners into cooperatives have proved abortive.
He further stated that the ministry will review all mining licenses in the country as part of its transformation agenda.
Other transformation agendas listed by the minister are the formation of the Nigerian Solid Minerals Cooperation, joint ventures with mining multinationals, setting up of mine police/task force, and generation of data for solid minerals in Nigeria.
The Federal Government has issued a 30-day ultimatum to illegal miners to desist from such activities in the country.
The Minister of Solid Minerals Development, Dele Alake, explained that all efforts to formalize unlicensed miners into cooperatives have proved abortive.
He further stated that the ministry will review all mining licenses in the country as part of its transformation agenda.
Other transformation agendas listed by the minister are the formation of the Nigerian Solid Minerals Cooperation, joint ventures with mining multinationals, setting up of mine police/task force, and generation of data for solid minerals in Nigeria.
The Federal Government has issued a 30-day ultimatum to illegal miners to desist from such activities in the country.
The Minister of Solid Minerals Development, Dele Alake, explained that all efforts to formalize unlicensed miners into cooperatives have proved abortive.
He further stated that the ministry will review all mining licenses in the country as part of its transformation agenda.
Other transformation agendas listed by the minister are the formation of the Nigerian Solid Minerals Cooperation, joint ventures with mining multinationals, setting up of mine police/task force, and generation of data for solid minerals in Nigeria.
President Bola Tinubu will jet to New Delhi, India, on Monday to attend the G-20 Leaders’ Summit.
Presidential spokesman, Ajuri Ngelale, says the President will be departing Abuja for the summit in India on the special invitation of Indian Prime Minister, Narendra Modi.
He says on the sidelines of the Summit, the President will participate in and deliver keynote addresses at both the Nigeria-India Presidential Roundtable and the Nigeria-India Business Conference.
The executive roundtable is expected to be attended by leading industrialists in the Indian private sector, Nigerian industrialists, as well as senior government officials from both countries.
President Bola Tinubu will jet to New Delhi, India, on Monday to attend the G-20 Leaders’ Summit.
Presidential spokesman, Ajuri Ngelale, says the President will be departing Abuja for the summit in India on the special invitation of Indian Prime Minister, Narendra Modi.
He says on the sidelines of the Summit, the President will participate in and deliver keynote addresses at both the Nigeria-India Presidential Roundtable and the Nigeria-India Business Conference.
The executive roundtable is expected to be attended by leading industrialists in the Indian private sector, Nigerian industrialists, as well as senior government officials from both countries.
President Bola Tinubu will jet to New Delhi, India, on Monday to attend the G-20 Leaders’ Summit.
Presidential spokesman, Ajuri Ngelale, says the President will be departing Abuja for the summit in India on the special invitation of Indian Prime Minister, Narendra Modi.
He says on the sidelines of the Summit, the President will participate in and deliver keynote addresses at both the Nigeria-India Presidential Roundtable and the Nigeria-India Business Conference.
The executive roundtable is expected to be attended by leading industrialists in the Indian private sector, Nigerian industrialists, as well as senior government officials from both countries.
President Bola Tinubu will jet to New Delhi, India, on Monday to attend the G-20 Leaders’ Summit.
Presidential spokesman, Ajuri Ngelale, says the President will be departing Abuja for the summit in India on the special invitation of Indian Prime Minister, Narendra Modi.
He says on the sidelines of the Summit, the President will participate in and deliver keynote addresses at both the Nigeria-India Presidential Roundtable and the Nigeria-India Business Conference.
The executive roundtable is expected to be attended by leading industrialists in the Indian private sector, Nigerian industrialists, as well as senior government officials from both countries.
President Bola Tinubu will jet to New Delhi, India, on Monday to attend the G-20 Leaders’ Summit.
Presidential spokesman, Ajuri Ngelale, says the President will be departing Abuja for the summit in India on the special invitation of Indian Prime Minister, Narendra Modi.
He says on the sidelines of the Summit, the President will participate in and deliver keynote addresses at both the Nigeria-India Presidential Roundtable and the Nigeria-India Business Conference.
The executive roundtable is expected to be attended by leading industrialists in the Indian private sector, Nigerian industrialists, as well as senior government officials from both countries.
President Bola Tinubu will jet to New Delhi, India, on Monday to attend the G-20 Leaders’ Summit.
Presidential spokesman, Ajuri Ngelale, says the President will be departing Abuja for the summit in India on the special invitation of Indian Prime Minister, Narendra Modi.
He says on the sidelines of the Summit, the President will participate in and deliver keynote addresses at both the Nigeria-India Presidential Roundtable and the Nigeria-India Business Conference.
The executive roundtable is expected to be attended by leading industrialists in the Indian private sector, Nigerian industrialists, as well as senior government officials from both countries.
China’s Baidu has rolled out its ChatGPT rival ERNIE Bot to the public, in a major leap for the country’s tech sector as it aims to cash in on the artificial intelligence gold rush.
The Chinese government introduced new regulations this month for AI developers, aiming to allow them to stay in the race with the likes of ChatGPT maker OpenAI and Microsoft while tightly controlling information online.
ERNIE Bot is the first domestic AI app to be fully available to the public in China. It is not available outside the country.
In addition to ERNIE Bot, Baidu is set to launch a suite of new AI-native apps that allow users to fully experience the four core abilities of generative AI: understanding, generation, reasoning, and memory.
China’s Baidu has rolled out its ChatGPT rival ERNIE Bot to the public, in a major leap for the country’s tech sector as it aims to cash in on the artificial intelligence gold rush.
The Chinese government introduced new regulations this month for AI developers, aiming to allow them to stay in the race with the likes of ChatGPT maker OpenAI and Microsoft while tightly controlling information online.
ERNIE Bot is the first domestic AI app to be fully available to the public in China. It is not available outside the country.
In addition to ERNIE Bot, Baidu is set to launch a suite of new AI-native apps that allow users to fully experience the four core abilities of generative AI: understanding, generation, reasoning, and memory.
China’s Baidu has rolled out its ChatGPT rival ERNIE Bot to the public, in a major leap for the country’s tech sector as it aims to cash in on the artificial intelligence gold rush.
The Chinese government introduced new regulations this month for AI developers, aiming to allow them to stay in the race with the likes of ChatGPT maker OpenAI and Microsoft while tightly controlling information online.
ERNIE Bot is the first domestic AI app to be fully available to the public in China. It is not available outside the country.
In addition to ERNIE Bot, Baidu is set to launch a suite of new AI-native apps that allow users to fully experience the four core abilities of generative AI: understanding, generation, reasoning, and memory.
China’s Baidu has rolled out its ChatGPT rival ERNIE Bot to the public, in a major leap for the country’s tech sector as it aims to cash in on the artificial intelligence gold rush.
The Chinese government introduced new regulations this month for AI developers, aiming to allow them to stay in the race with the likes of ChatGPT maker OpenAI and Microsoft while tightly controlling information online.
ERNIE Bot is the first domestic AI app to be fully available to the public in China. It is not available outside the country.
In addition to ERNIE Bot, Baidu is set to launch a suite of new AI-native apps that allow users to fully experience the four core abilities of generative AI: understanding, generation, reasoning, and memory.
China’s Baidu has rolled out its ChatGPT rival ERNIE Bot to the public, in a major leap for the country’s tech sector as it aims to cash in on the artificial intelligence gold rush.
The Chinese government introduced new regulations this month for AI developers, aiming to allow them to stay in the race with the likes of ChatGPT maker OpenAI and Microsoft while tightly controlling information online.
ERNIE Bot is the first domestic AI app to be fully available to the public in China. It is not available outside the country.
In addition to ERNIE Bot, Baidu is set to launch a suite of new AI-native apps that allow users to fully experience the four core abilities of generative AI: understanding, generation, reasoning, and memory.
China’s Baidu has rolled out its ChatGPT rival ERNIE Bot to the public, in a major leap for the country’s tech sector as it aims to cash in on the artificial intelligence gold rush.
The Chinese government introduced new regulations this month for AI developers, aiming to allow them to stay in the race with the likes of ChatGPT maker OpenAI and Microsoft while tightly controlling information online.
ERNIE Bot is the first domestic AI app to be fully available to the public in China. It is not available outside the country.
In addition to ERNIE Bot, Baidu is set to launch a suite of new AI-native apps that allow users to fully experience the four core abilities of generative AI: understanding, generation, reasoning, and memory.
Malaysia has rejected the latest edition of the ‘standard map of China’ that lays claim to almost the entire South China Sea, including areas lying off the coast of Malaysian Borneo.
Tensions have been rising in the strategically important waters as China has become increasingly assertive in its claim despite a 2016 international court ruling that its so-called ‘nine-dash line’ was without merit and superseded by the 1982 United Nations Convention on the Law of the Sea.
Malaysia noted the new map, which clearly depicts the nine-dash line, showed China’s unilateral maritime claims and that they overlapped with Malaysia’s claims of its states of Sabah and Sarawak.
Malaysia has rejected the latest edition of the ‘standard map of China’ that lays claim to almost the entire South China Sea, including areas lying off the coast of Malaysian Borneo.
Tensions have been rising in the strategically important waters as China has become increasingly assertive in its claim despite a 2016 international court ruling that its so-called ‘nine-dash line’ was without merit and superseded by the 1982 United Nations Convention on the Law of the Sea.
Malaysia noted the new map, which clearly depicts the nine-dash line, showed China’s unilateral maritime claims and that they overlapped with Malaysia’s claims of its states of Sabah and Sarawak.
Malaysia has rejected the latest edition of the ‘standard map of China’ that lays claim to almost the entire South China Sea, including areas lying off the coast of Malaysian Borneo.
Tensions have been rising in the strategically important waters as China has become increasingly assertive in its claim despite a 2016 international court ruling that its so-called ‘nine-dash line’ was without merit and superseded by the 1982 United Nations Convention on the Law of the Sea.
Malaysia noted the new map, which clearly depicts the nine-dash line, showed China’s unilateral maritime claims and that they overlapped with Malaysia’s claims of its states of Sabah and Sarawak.
Malaysia has rejected the latest edition of the ‘standard map of China’ that lays claim to almost the entire South China Sea, including areas lying off the coast of Malaysian Borneo.
Tensions have been rising in the strategically important waters as China has become increasingly assertive in its claim despite a 2016 international court ruling that its so-called ‘nine-dash line’ was without merit and superseded by the 1982 United Nations Convention on the Law of the Sea.
Malaysia noted the new map, which clearly depicts the nine-dash line, showed China’s unilateral maritime claims and that they overlapped with Malaysia’s claims of its states of Sabah and Sarawak.
Malaysia has rejected the latest edition of the ‘standard map of China’ that lays claim to almost the entire South China Sea, including areas lying off the coast of Malaysian Borneo.
Tensions have been rising in the strategically important waters as China has become increasingly assertive in its claim despite a 2016 international court ruling that its so-called ‘nine-dash line’ was without merit and superseded by the 1982 United Nations Convention on the Law of the Sea.
Malaysia noted the new map, which clearly depicts the nine-dash line, showed China’s unilateral maritime claims and that they overlapped with Malaysia’s claims of its states of Sabah and Sarawak.
Malaysia has rejected the latest edition of the ‘standard map of China’ that lays claim to almost the entire South China Sea, including areas lying off the coast of Malaysian Borneo.
Tensions have been rising in the strategically important waters as China has become increasingly assertive in its claim despite a 2016 international court ruling that its so-called ‘nine-dash line’ was without merit and superseded by the 1982 United Nations Convention on the Law of the Sea.
Malaysia noted the new map, which clearly depicts the nine-dash line, showed China’s unilateral maritime claims and that they overlapped with Malaysia’s claims of its states of Sabah and Sarawak.
New York’s attorney general alleged that Donald Trump routinely overvalued his net worth by billions of dollars each year between 2011 and 2021.
State Attorney General Letitia James claimed that Trump and some of his associates submitted grossly inflated numbers to banks and insurers to secure and maintain loans and insurance on more favourable terms.
The documents alleged that the scheme resulted in hundreds of millions of dollars in ill-gotten savings and profits.
Trump and his children also stand accused of deflating the value of certain Trump Organization assets — including golf clubs, luxury hotels and other properties — to reduce taxes.
New York’s attorney general alleged that Donald Trump routinely overvalued his net worth by billions of dollars each year between 2011 and 2021.
State Attorney General Letitia James claimed that Trump and some of his associates submitted grossly inflated numbers to banks and insurers to secure and maintain loans and insurance on more favourable terms.
The documents alleged that the scheme resulted in hundreds of millions of dollars in ill-gotten savings and profits.
Trump and his children also stand accused of deflating the value of certain Trump Organization assets — including golf clubs, luxury hotels and other properties — to reduce taxes.
New York’s attorney general alleged that Donald Trump routinely overvalued his net worth by billions of dollars each year between 2011 and 2021.
State Attorney General Letitia James claimed that Trump and some of his associates submitted grossly inflated numbers to banks and insurers to secure and maintain loans and insurance on more favourable terms.
The documents alleged that the scheme resulted in hundreds of millions of dollars in ill-gotten savings and profits.
Trump and his children also stand accused of deflating the value of certain Trump Organization assets — including golf clubs, luxury hotels and other properties — to reduce taxes.
New York’s attorney general alleged that Donald Trump routinely overvalued his net worth by billions of dollars each year between 2011 and 2021.
State Attorney General Letitia James claimed that Trump and some of his associates submitted grossly inflated numbers to banks and insurers to secure and maintain loans and insurance on more favourable terms.
The documents alleged that the scheme resulted in hundreds of millions of dollars in ill-gotten savings and profits.
Trump and his children also stand accused of deflating the value of certain Trump Organization assets — including golf clubs, luxury hotels and other properties — to reduce taxes.
New York’s attorney general alleged that Donald Trump routinely overvalued his net worth by billions of dollars each year between 2011 and 2021.
State Attorney General Letitia James claimed that Trump and some of his associates submitted grossly inflated numbers to banks and insurers to secure and maintain loans and insurance on more favourable terms.
The documents alleged that the scheme resulted in hundreds of millions of dollars in ill-gotten savings and profits.
Trump and his children also stand accused of deflating the value of certain Trump Organization assets — including golf clubs, luxury hotels and other properties — to reduce taxes.
New York’s attorney general alleged that Donald Trump routinely overvalued his net worth by billions of dollars each year between 2011 and 2021.
State Attorney General Letitia James claimed that Trump and some of his associates submitted grossly inflated numbers to banks and insurers to secure and maintain loans and insurance on more favourable terms.
The documents alleged that the scheme resulted in hundreds of millions of dollars in ill-gotten savings and profits.
Trump and his children also stand accused of deflating the value of certain Trump Organization assets — including golf clubs, luxury hotels and other properties — to reduce taxes.
The Central Agency for Public Mobilization and Statistics showed an increase in the value of trade exchange between Egypt and Sudan to a record $1.4 billion in 2022, compared to $1.2 billion in 2021, an increase of 18.7%.
The value of Egyptian exports to Sudan increased to $929.2 million in 2022 compared to $826.8 million in 2021, an increase of 12.4%. The value of Egyptian imports from Sudan reached $509.4 million in 2022, compared to $385.6 million in 2021, an increase of 32.1%.
The Central Agency for Public Mobilization and Statistics showed an increase in the value of trade exchange between Egypt and Sudan to a record $1.4 billion in 2022, compared to $1.2 billion in 2021, an increase of 18.7%.
The value of Egyptian exports to Sudan increased to $929.2 million in 2022 compared to $826.8 million in 2021, an increase of 12.4%. The value of Egyptian imports from Sudan reached $509.4 million in 2022, compared to $385.6 million in 2021, an increase of 32.1%.
The Central Agency for Public Mobilization and Statistics showed an increase in the value of trade exchange between Egypt and Sudan to a record $1.4 billion in 2022, compared to $1.2 billion in 2021, an increase of 18.7%.
The value of Egyptian exports to Sudan increased to $929.2 million in 2022 compared to $826.8 million in 2021, an increase of 12.4%. The value of Egyptian imports from Sudan reached $509.4 million in 2022, compared to $385.6 million in 2021, an increase of 32.1%.
The Central Agency for Public Mobilization and Statistics showed an increase in the value of trade exchange between Egypt and Sudan to a record $1.4 billion in 2022, compared to $1.2 billion in 2021, an increase of 18.7%.
The value of Egyptian exports to Sudan increased to $929.2 million in 2022 compared to $826.8 million in 2021, an increase of 12.4%. The value of Egyptian imports from Sudan reached $509.4 million in 2022, compared to $385.6 million in 2021, an increase of 32.1%.
The Central Agency for Public Mobilization and Statistics showed an increase in the value of trade exchange between Egypt and Sudan to a record $1.4 billion in 2022, compared to $1.2 billion in 2021, an increase of 18.7%.
The value of Egyptian exports to Sudan increased to $929.2 million in 2022 compared to $826.8 million in 2021, an increase of 12.4%. The value of Egyptian imports from Sudan reached $509.4 million in 2022, compared to $385.6 million in 2021, an increase of 32.1%.
The Central Agency for Public Mobilization and Statistics showed an increase in the value of trade exchange between Egypt and Sudan to a record $1.4 billion in 2022, compared to $1.2 billion in 2021, an increase of 18.7%.
The value of Egyptian exports to Sudan increased to $929.2 million in 2022 compared to $826.8 million in 2021, an increase of 12.4%. The value of Egyptian imports from Sudan reached $509.4 million in 2022, compared to $385.6 million in 2021, an increase of 32.1%.
The Reserve Bank of Zimbabwe Mid-Term Monetary Policy Statement review has established that US$-US$-denominated loans extended by the local banking sector constituted 94% on the back of an eight-fold increase of total loan advances.
The MPS commended the role being played by the banking sector in the development of the economy through financial support extended to private companies.
The total loans to total deposit ratio for the banking sector remained relatively stable at 55% as of 30 June 2023 from 55.67% at the end of 2022.
Loans extended to the productive sectors constituted 77.6%, Consumptive Loans 12%, and Other 10,2% of total loans as of 30 June 2023.
The Reserve Bank of Zimbabwe Mid-Term Monetary Policy Statement review has established that US$-US$-denominated loans extended by the local banking sector constituted 94% on the back of an eight-fold increase of total loan advances.
The MPS commended the role being played by the banking sector in the development of the economy through financial support extended to private companies.
The total loans to total deposit ratio for the banking sector remained relatively stable at 55% as of 30 June 2023 from 55.67% at the end of 2022.
Loans extended to the productive sectors constituted 77.6%, Consumptive Loans 12%, and Other 10,2% of total loans as of 30 June 2023.
The Reserve Bank of Zimbabwe Mid-Term Monetary Policy Statement review has established that US$-US$-denominated loans extended by the local banking sector constituted 94% on the back of an eight-fold increase of total loan advances.
The MPS commended the role being played by the banking sector in the development of the economy through financial support extended to private companies.
The total loans to total deposit ratio for the banking sector remained relatively stable at 55% as of 30 June 2023 from 55.67% at the end of 2022.
Loans extended to the productive sectors constituted 77.6%, Consumptive Loans 12%, and Other 10,2% of total loans as of 30 June 2023.
The Reserve Bank of Zimbabwe Mid-Term Monetary Policy Statement review has established that US$-US$-denominated loans extended by the local banking sector constituted 94% on the back of an eight-fold increase of total loan advances.
The MPS commended the role being played by the banking sector in the development of the economy through financial support extended to private companies.
The total loans to total deposit ratio for the banking sector remained relatively stable at 55% as of 30 June 2023 from 55.67% at the end of 2022.
Loans extended to the productive sectors constituted 77.6%, Consumptive Loans 12%, and Other 10,2% of total loans as of 30 June 2023.
The Reserve Bank of Zimbabwe Mid-Term Monetary Policy Statement review has established that US$-US$-denominated loans extended by the local banking sector constituted 94% on the back of an eight-fold increase of total loan advances.
The MPS commended the role being played by the banking sector in the development of the economy through financial support extended to private companies.
The total loans to total deposit ratio for the banking sector remained relatively stable at 55% as of 30 June 2023 from 55.67% at the end of 2022.
Loans extended to the productive sectors constituted 77.6%, Consumptive Loans 12%, and Other 10,2% of total loans as of 30 June 2023.
The Reserve Bank of Zimbabwe Mid-Term Monetary Policy Statement review has established that US$-US$-denominated loans extended by the local banking sector constituted 94% on the back of an eight-fold increase of total loan advances.
The MPS commended the role being played by the banking sector in the development of the economy through financial support extended to private companies.
The total loans to total deposit ratio for the banking sector remained relatively stable at 55% as of 30 June 2023 from 55.67% at the end of 2022.
Loans extended to the productive sectors constituted 77.6%, Consumptive Loans 12%, and Other 10,2% of total loans as of 30 June 2023.
Gabon’s military coup sparked the steepest daily drop in its dollar bonds since the height of the COVID-19 pandemic just weeks after the country carried out continental Africa’s first debt-for-nature swap.
The 2025 maturity fell the most, by as much as 14 cents, before recovering to trade down 9.5 cents on the dollar at 83.41 cents at 1302 GMT.
The Head Of Macro Strategy at FIM Partners, Charlie Robertson, says that was still the biggest fall since the COVID-19 market rout of March 2020. Its two 2031 maturities were both down around seven cents.
He says the immediate risk to bondholders is that sanctions are imposed that complicate things, potentially making payments to and from the country difficult.
Gabon’s military coup sparked the steepest daily drop in its dollar bonds since the height of the COVID-19 pandemic just weeks after the country carried out continental Africa’s first debt-for-nature swap.
The 2025 maturity fell the most, by as much as 14 cents, before recovering to trade down 9.5 cents on the dollar at 83.41 cents at 1302 GMT.
The Head Of Macro Strategy at FIM Partners, Charlie Robertson, says that was still the biggest fall since the COVID-19 market rout of March 2020. Its two 2031 maturities were both down around seven cents.
He says the immediate risk to bondholders is that sanctions are imposed that complicate things, potentially making payments to and from the country difficult.
Gabon’s military coup sparked the steepest daily drop in its dollar bonds since the height of the COVID-19 pandemic just weeks after the country carried out continental Africa’s first debt-for-nature swap.
The 2025 maturity fell the most, by as much as 14 cents, before recovering to trade down 9.5 cents on the dollar at 83.41 cents at 1302 GMT.
The Head Of Macro Strategy at FIM Partners, Charlie Robertson, says that was still the biggest fall since the COVID-19 market rout of March 2020. Its two 2031 maturities were both down around seven cents.
He says the immediate risk to bondholders is that sanctions are imposed that complicate things, potentially making payments to and from the country difficult.
Gabon’s military coup sparked the steepest daily drop in its dollar bonds since the height of the COVID-19 pandemic just weeks after the country carried out continental Africa’s first debt-for-nature swap.
The 2025 maturity fell the most, by as much as 14 cents, before recovering to trade down 9.5 cents on the dollar at 83.41 cents at 1302 GMT.
The Head Of Macro Strategy at FIM Partners, Charlie Robertson, says that was still the biggest fall since the COVID-19 market rout of March 2020. Its two 2031 maturities were both down around seven cents.
He says the immediate risk to bondholders is that sanctions are imposed that complicate things, potentially making payments to and from the country difficult.
Gabon’s military coup sparked the steepest daily drop in its dollar bonds since the height of the COVID-19 pandemic just weeks after the country carried out continental Africa’s first debt-for-nature swap.
The 2025 maturity fell the most, by as much as 14 cents, before recovering to trade down 9.5 cents on the dollar at 83.41 cents at 1302 GMT.
The Head Of Macro Strategy at FIM Partners, Charlie Robertson, says that was still the biggest fall since the COVID-19 market rout of March 2020. Its two 2031 maturities were both down around seven cents.
He says the immediate risk to bondholders is that sanctions are imposed that complicate things, potentially making payments to and from the country difficult.
Gabon’s military coup sparked the steepest daily drop in its dollar bonds since the height of the COVID-19 pandemic just weeks after the country carried out continental Africa’s first debt-for-nature swap.
The 2025 maturity fell the most, by as much as 14 cents, before recovering to trade down 9.5 cents on the dollar at 83.41 cents at 1302 GMT.
The Head Of Macro Strategy at FIM Partners, Charlie Robertson, says that was still the biggest fall since the COVID-19 market rout of March 2020. Its two 2031 maturities were both down around seven cents.
He says the immediate risk to bondholders is that sanctions are imposed that complicate things, potentially making payments to and from the country difficult.
President Bola Tinubu has expressed his deep concern over the political situation in Gabon and the socio-political stability in that country.
Tinubu’s reaction came hours after a group of Gabonese military officers put an end to the current regime and cancelled an election that President Ali Bongo Ondimba won.
The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, expressed Tinubu’s belief that the rule of law and a faithful recourse to the constitutional resolution of electoral disputes must not be allowed to perish in Africa.
President Bola Tinubu has expressed his deep concern over the political situation in Gabon and the socio-political stability in that country.
Tinubu’s reaction came hours after a group of Gabonese military officers put an end to the current regime and cancelled an election that President Ali Bongo Ondimba won.
The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, expressed Tinubu’s belief that the rule of law and a faithful recourse to the constitutional resolution of electoral disputes must not be allowed to perish in Africa.
President Bola Tinubu has expressed his deep concern over the political situation in Gabon and the socio-political stability in that country.
Tinubu’s reaction came hours after a group of Gabonese military officers put an end to the current regime and cancelled an election that President Ali Bongo Ondimba won.
The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, expressed Tinubu’s belief that the rule of law and a faithful recourse to the constitutional resolution of electoral disputes must not be allowed to perish in Africa.
President Bola Tinubu has expressed his deep concern over the political situation in Gabon and the socio-political stability in that country.
Tinubu’s reaction came hours after a group of Gabonese military officers put an end to the current regime and cancelled an election that President Ali Bongo Ondimba won.
The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, expressed Tinubu’s belief that the rule of law and a faithful recourse to the constitutional resolution of electoral disputes must not be allowed to perish in Africa.
President Bola Tinubu has expressed his deep concern over the political situation in Gabon and the socio-political stability in that country.
Tinubu’s reaction came hours after a group of Gabonese military officers put an end to the current regime and cancelled an election that President Ali Bongo Ondimba won.
The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, expressed Tinubu’s belief that the rule of law and a faithful recourse to the constitutional resolution of electoral disputes must not be allowed to perish in Africa.
President Bola Tinubu has expressed his deep concern over the political situation in Gabon and the socio-political stability in that country.
Tinubu’s reaction came hours after a group of Gabonese military officers put an end to the current regime and cancelled an election that President Ali Bongo Ondimba won.
The Special Adviser to the President on Media and Publicity, Ajuri Ngelale, expressed Tinubu’s belief that the rule of law and a faithful recourse to the constitutional resolution of electoral disputes must not be allowed to perish in Africa.
President Bola Tinubu says the country could not continue to service its debt with 90 per cent of its revenue.
He noted that the country was headed for destruction should that continue.
Tinubu says his administration must make difficult changes to better the lots of the country.
Tinubu says servicing external debts with 90% of the country's revenue is a path to destruction and not sustainable.
President Bola Tinubu says the country could not continue to service its debt with 90 per cent of its revenue.
He noted that the country was headed for destruction should that continue.
Tinubu says his administration must make difficult changes to better the lots of the country.
Tinubu says servicing external debts with 90% of the country's revenue is a path to destruction and not sustainable.
President Bola Tinubu says the country could not continue to service its debt with 90 per cent of its revenue.
He noted that the country was headed for destruction should that continue.
Tinubu says his administration must make difficult changes to better the lots of the country.
Tinubu says servicing external debts with 90% of the country's revenue is a path to destruction and not sustainable.
President Bola Tinubu says the country could not continue to service its debt with 90 per cent of its revenue.
He noted that the country was headed for destruction should that continue.
Tinubu says his administration must make difficult changes to better the lots of the country.
Tinubu says servicing external debts with 90% of the country's revenue is a path to destruction and not sustainable.
President Bola Tinubu says the country could not continue to service its debt with 90 per cent of its revenue.
He noted that the country was headed for destruction should that continue.
Tinubu says his administration must make difficult changes to better the lots of the country.
Tinubu says servicing external debts with 90% of the country's revenue is a path to destruction and not sustainable.
President Bola Tinubu says the country could not continue to service its debt with 90 per cent of its revenue.
He noted that the country was headed for destruction should that continue.
Tinubu says his administration must make difficult changes to better the lots of the country.
Tinubu says servicing external debts with 90% of the country's revenue is a path to destruction and not sustainable.
Indian Prime Minister Narendra Modi has proposed to make the African Union a full member of the Group of 20, while also pitching his country as the solution to supply chain woes in advance of the bloc’s summit in New Delhi next month.
Modi says they have a vision of inclusiveness and with that vision, we have invited the African Union to become permanent members of the G20.
US President Joe Biden earlier said he wanted the AU to join the G20 as a permanent member adding that it had “been a long time in coming, but it’s going to come.
New Delhi also called for including the pan-African bloc, which collectively had a $3 trillion GDP last year.
Indian Prime Minister Narendra Modi has proposed to make the African Union a full member of the Group of 20, while also pitching his country as the solution to supply chain woes in advance of the bloc’s summit in New Delhi next month.
Modi says they have a vision of inclusiveness and with that vision, we have invited the African Union to become permanent members of the G20.
US President Joe Biden earlier said he wanted the AU to join the G20 as a permanent member adding that it had “been a long time in coming, but it’s going to come.
New Delhi also called for including the pan-African bloc, which collectively had a $3 trillion GDP last year.
Indian Prime Minister Narendra Modi has proposed to make the African Union a full member of the Group of 20, while also pitching his country as the solution to supply chain woes in advance of the bloc’s summit in New Delhi next month.
Modi says they have a vision of inclusiveness and with that vision, we have invited the African Union to become permanent members of the G20.
US President Joe Biden earlier said he wanted the AU to join the G20 as a permanent member adding that it had “been a long time in coming, but it’s going to come.
New Delhi also called for including the pan-African bloc, which collectively had a $3 trillion GDP last year.
Indian Prime Minister Narendra Modi has proposed to make the African Union a full member of the Group of 20, while also pitching his country as the solution to supply chain woes in advance of the bloc’s summit in New Delhi next month.
Modi says they have a vision of inclusiveness and with that vision, we have invited the African Union to become permanent members of the G20.
US President Joe Biden earlier said he wanted the AU to join the G20 as a permanent member adding that it had “been a long time in coming, but it’s going to come.
New Delhi also called for including the pan-African bloc, which collectively had a $3 trillion GDP last year.
Indian Prime Minister Narendra Modi has proposed to make the African Union a full member of the Group of 20, while also pitching his country as the solution to supply chain woes in advance of the bloc’s summit in New Delhi next month.
Modi says they have a vision of inclusiveness and with that vision, we have invited the African Union to become permanent members of the G20.
US President Joe Biden earlier said he wanted the AU to join the G20 as a permanent member adding that it had “been a long time in coming, but it’s going to come.
New Delhi also called for including the pan-African bloc, which collectively had a $3 trillion GDP last year.
Indian Prime Minister Narendra Modi has proposed to make the African Union a full member of the Group of 20, while also pitching his country as the solution to supply chain woes in advance of the bloc’s summit in New Delhi next month.
Modi says they have a vision of inclusiveness and with that vision, we have invited the African Union to become permanent members of the G20.
US President Joe Biden earlier said he wanted the AU to join the G20 as a permanent member adding that it had “been a long time in coming, but it’s going to come.
New Delhi also called for including the pan-African bloc, which collectively had a $3 trillion GDP last year.
France’s education minister says the country will ban children from wearing the abaya – the loose-fitting, full-length robe worn by some Muslim women – in state-run schools ahead of the back-to-school season.
France has struggled to update guidelines to deal with a growing Muslim minority.
French public schools do not permit the wearing of large crosses, Jewish kippas or Islamic headscarves.
Education Minister Gabriel Attal says When you walk into a classroom, you shouldn’t be able to identify the pupils’ religion just by looking at them.
The move comes after months of debate over the wearing of abayas in French schools, where women have long been banned from wearing the hijab.
France’s education minister says the country will ban children from wearing the abaya – the loose-fitting, full-length robe worn by some Muslim women – in state-run schools ahead of the back-to-school season.
France has struggled to update guidelines to deal with a growing Muslim minority.
French public schools do not permit the wearing of large crosses, Jewish kippas or Islamic headscarves.
Education Minister Gabriel Attal says When you walk into a classroom, you shouldn’t be able to identify the pupils’ religion just by looking at them.
The move comes after months of debate over the wearing of abayas in French schools, where women have long been banned from wearing the hijab.
France’s education minister says the country will ban children from wearing the abaya – the loose-fitting, full-length robe worn by some Muslim women – in state-run schools ahead of the back-to-school season.
France has struggled to update guidelines to deal with a growing Muslim minority.
French public schools do not permit the wearing of large crosses, Jewish kippas or Islamic headscarves.
Education Minister Gabriel Attal says When you walk into a classroom, you shouldn’t be able to identify the pupils’ religion just by looking at them.
The move comes after months of debate over the wearing of abayas in French schools, where women have long been banned from wearing the hijab.
France’s education minister says the country will ban children from wearing the abaya – the loose-fitting, full-length robe worn by some Muslim women – in state-run schools ahead of the back-to-school season.
France has struggled to update guidelines to deal with a growing Muslim minority.
French public schools do not permit the wearing of large crosses, Jewish kippas or Islamic headscarves.
Education Minister Gabriel Attal says When you walk into a classroom, you shouldn’t be able to identify the pupils’ religion just by looking at them.
The move comes after months of debate over the wearing of abayas in French schools, where women have long been banned from wearing the hijab.
France’s education minister says the country will ban children from wearing the abaya – the loose-fitting, full-length robe worn by some Muslim women – in state-run schools ahead of the back-to-school season.
France has struggled to update guidelines to deal with a growing Muslim minority.
French public schools do not permit the wearing of large crosses, Jewish kippas or Islamic headscarves.
Education Minister Gabriel Attal says When you walk into a classroom, you shouldn’t be able to identify the pupils’ religion just by looking at them.
The move comes after months of debate over the wearing of abayas in French schools, where women have long been banned from wearing the hijab.
France’s education minister says the country will ban children from wearing the abaya – the loose-fitting, full-length robe worn by some Muslim women – in state-run schools ahead of the back-to-school season.
France has struggled to update guidelines to deal with a growing Muslim minority.
French public schools do not permit the wearing of large crosses, Jewish kippas or Islamic headscarves.
Education Minister Gabriel Attal says When you walk into a classroom, you shouldn’t be able to identify the pupils’ religion just by looking at them.
The move comes after months of debate over the wearing of abayas in French schools, where women have long been banned from wearing the hijab.
Negotiations over the controversial mega-dam that Ethiopia is building on the Blue Nile River have resumed in the Egyptian capital, Cairo.
Ethiopia’s communications office confirmed the resumption of talks.
The $5bn hydroelectric dam has been at the centre of a diplomatic row for more than a decade between Ethiopia and the two downstream countries Egypt and Sudan.
Egypt and Sudan fear their essential water supplies are threatened by the dam.
Several rounds of negotiations had been held but attempts to ink a binding deal have not materialised.
Negotiations over the controversial mega-dam that Ethiopia is building on the Blue Nile River have resumed in the Egyptian capital, Cairo.
Ethiopia’s communications office confirmed the resumption of talks.
The $5bn hydroelectric dam has been at the centre of a diplomatic row for more than a decade between Ethiopia and the two downstream countries Egypt and Sudan.
Egypt and Sudan fear their essential water supplies are threatened by the dam.
Several rounds of negotiations had been held but attempts to ink a binding deal have not materialised.
Negotiations over the controversial mega-dam that Ethiopia is building on the Blue Nile River have resumed in the Egyptian capital, Cairo.
Ethiopia’s communications office confirmed the resumption of talks.
The $5bn hydroelectric dam has been at the centre of a diplomatic row for more than a decade between Ethiopia and the two downstream countries Egypt and Sudan.
Egypt and Sudan fear their essential water supplies are threatened by the dam.
Several rounds of negotiations had been held but attempts to ink a binding deal have not materialised.
Negotiations over the controversial mega-dam that Ethiopia is building on the Blue Nile River have resumed in the Egyptian capital, Cairo.
Ethiopia’s communications office confirmed the resumption of talks.
The $5bn hydroelectric dam has been at the centre of a diplomatic row for more than a decade between Ethiopia and the two downstream countries Egypt and Sudan.
Egypt and Sudan fear their essential water supplies are threatened by the dam.
Several rounds of negotiations had been held but attempts to ink a binding deal have not materialised.
Negotiations over the controversial mega-dam that Ethiopia is building on the Blue Nile River have resumed in the Egyptian capital, Cairo.
Ethiopia’s communications office confirmed the resumption of talks.
The $5bn hydroelectric dam has been at the centre of a diplomatic row for more than a decade between Ethiopia and the two downstream countries Egypt and Sudan.
Egypt and Sudan fear their essential water supplies are threatened by the dam.
Several rounds of negotiations had been held but attempts to ink a binding deal have not materialised.
Negotiations over the controversial mega-dam that Ethiopia is building on the Blue Nile River have resumed in the Egyptian capital, Cairo.
Ethiopia’s communications office confirmed the resumption of talks.
The $5bn hydroelectric dam has been at the centre of a diplomatic row for more than a decade between Ethiopia and the two downstream countries Egypt and Sudan.
Egypt and Sudan fear their essential water supplies are threatened by the dam.
Several rounds of negotiations had been held but attempts to ink a binding deal have not materialised.
Sudan's paramilitary Rapid Support Forces group has mapped out its vision to end the conflict between it and the country's regular army, signalling a readiness for a negotiated settlement.
Lt Gen Mohamed Hamdan Dagalo, also known as Hemedti, issued a long statement to outline the group's vision for a comprehensive settlement to end the war and build a new Sudan.
He says any settlement to end the war must set the country on the path to a full civilian rule based on democratic norms".
He added that the solution must address the root causes of Sudan's wars through a broad and inclusive dialogue involving all civil stakeholders and must be directed towards achieving a lasting ceasefire
Sudan's paramilitary Rapid Support Forces group has mapped out its vision to end the conflict between it and the country's regular army, signalling a readiness for a negotiated settlement.
Lt Gen Mohamed Hamdan Dagalo, also known as Hemedti, issued a long statement to outline the group's vision for a comprehensive settlement to end the war and build a new Sudan.
He says any settlement to end the war must set the country on the path to a full civilian rule based on democratic norms".
He added that the solution must address the root causes of Sudan's wars through a broad and inclusive dialogue involving all civil stakeholders and must be directed towards achieving a lasting ceasefire
Sudan's paramilitary Rapid Support Forces group has mapped out its vision to end the conflict between it and the country's regular army, signalling a readiness for a negotiated settlement.
Lt Gen Mohamed Hamdan Dagalo, also known as Hemedti, issued a long statement to outline the group's vision for a comprehensive settlement to end the war and build a new Sudan.
He says any settlement to end the war must set the country on the path to a full civilian rule based on democratic norms".
He added that the solution must address the root causes of Sudan's wars through a broad and inclusive dialogue involving all civil stakeholders and must be directed towards achieving a lasting ceasefire
Sudan's paramilitary Rapid Support Forces group has mapped out its vision to end the conflict between it and the country's regular army, signalling a readiness for a negotiated settlement.
Lt Gen Mohamed Hamdan Dagalo, also known as Hemedti, issued a long statement to outline the group's vision for a comprehensive settlement to end the war and build a new Sudan.
He says any settlement to end the war must set the country on the path to a full civilian rule based on democratic norms".
He added that the solution must address the root causes of Sudan's wars through a broad and inclusive dialogue involving all civil stakeholders and must be directed towards achieving a lasting ceasefire
Sudan's paramilitary Rapid Support Forces group has mapped out its vision to end the conflict between it and the country's regular army, signalling a readiness for a negotiated settlement.
Lt Gen Mohamed Hamdan Dagalo, also known as Hemedti, issued a long statement to outline the group's vision for a comprehensive settlement to end the war and build a new Sudan.
He says any settlement to end the war must set the country on the path to a full civilian rule based on democratic norms".
He added that the solution must address the root causes of Sudan's wars through a broad and inclusive dialogue involving all civil stakeholders and must be directed towards achieving a lasting ceasefire
Sudan's paramilitary Rapid Support Forces group has mapped out its vision to end the conflict between it and the country's regular army, signalling a readiness for a negotiated settlement.
Lt Gen Mohamed Hamdan Dagalo, also known as Hemedti, issued a long statement to outline the group's vision for a comprehensive settlement to end the war and build a new Sudan.
He says any settlement to end the war must set the country on the path to a full civilian rule based on democratic norms".
He added that the solution must address the root causes of Sudan's wars through a broad and inclusive dialogue involving all civil stakeholders and must be directed towards achieving a lasting ceasefire
The Ministry of Foreign Affairs says contrary to speculation, Nigeria’s Ambassador to Niger Republic Mohammed Sani Usman was not expelled from the country.
He says the inform about the Nigerian Ambassador to the Republic of Niger, H. E. Mohammed Sani Usman expelled and given 48 hours to leave the country is false and as such should be disregarded.
The Federal Government of Nigeria warns against the circulation of unverified information capable of jeopardizing the ongoing mediation efforts by ECOWAS in the political impasse in Niger.
The Ministry of Foreign Affairs says contrary to speculation, Nigeria’s Ambassador to Niger Republic Mohammed Sani Usman was not expelled from the country.
He says the inform about the Nigerian Ambassador to the Republic of Niger, H. E. Mohammed Sani Usman expelled and given 48 hours to leave the country is false and as such should be disregarded.
The Federal Government of Nigeria warns against the circulation of unverified information capable of jeopardizing the ongoing mediation efforts by ECOWAS in the political impasse in Niger.
The Ministry of Foreign Affairs says contrary to speculation, Nigeria’s Ambassador to Niger Republic Mohammed Sani Usman was not expelled from the country.
He says the inform about the Nigerian Ambassador to the Republic of Niger, H. E. Mohammed Sani Usman expelled and given 48 hours to leave the country is false and as such should be disregarded.
The Federal Government of Nigeria warns against the circulation of unverified information capable of jeopardizing the ongoing mediation efforts by ECOWAS in the political impasse in Niger.
The Ministry of Foreign Affairs says contrary to speculation, Nigeria’s Ambassador to Niger Republic Mohammed Sani Usman was not expelled from the country.
He says the inform about the Nigerian Ambassador to the Republic of Niger, H. E. Mohammed Sani Usman expelled and given 48 hours to leave the country is false and as such should be disregarded.
The Federal Government of Nigeria warns against the circulation of unverified information capable of jeopardizing the ongoing mediation efforts by ECOWAS in the political impasse in Niger.
The Ministry of Foreign Affairs says contrary to speculation, Nigeria’s Ambassador to Niger Republic Mohammed Sani Usman was not expelled from the country.
He says the inform about the Nigerian Ambassador to the Republic of Niger, H. E. Mohammed Sani Usman expelled and given 48 hours to leave the country is false and as such should be disregarded.
The Federal Government of Nigeria warns against the circulation of unverified information capable of jeopardizing the ongoing mediation efforts by ECOWAS in the political impasse in Niger.
The Ministry of Foreign Affairs says contrary to speculation, Nigeria’s Ambassador to Niger Republic Mohammed Sani Usman was not expelled from the country.
He says the inform about the Nigerian Ambassador to the Republic of Niger, H. E. Mohammed Sani Usman expelled and given 48 hours to leave the country is false and as such should be disregarded.
The Federal Government of Nigeria warns against the circulation of unverified information capable of jeopardizing the ongoing mediation efforts by ECOWAS in the political impasse in Niger.
The Ministry of Foreign Affairs has alerted the National Emergency Management Agency over impending flooding along the River Benue basin.
Umar Salisu, the Ministry’s Director of African Affairs says the Cameroonian government plans to open the flood gates of the Lagdo Dam on the Benue River in days ahead.
It noted that this is due to the heavy rainfall around the dam catchment area in Northern Cameroon
He says the release of water becomes necessary, the authorities of the Lagdo Dam will be releasing only modulated variable small amount of water at a time in order to mitigate and avoid damages that the released water may cause along the River Benue basin in both Cameroon and in Nigeria.
The Ministry of Foreign Affairs has alerted the National Emergency Management Agency over impending flooding along the River Benue basin.
Umar Salisu, the Ministry’s Director of African Affairs says the Cameroonian government plans to open the flood gates of the Lagdo Dam on the Benue River in days ahead.
It noted that this is due to the heavy rainfall around the dam catchment area in Northern Cameroon
He says the release of water becomes necessary, the authorities of the Lagdo Dam will be releasing only modulated variable small amount of water at a time in order to mitigate and avoid damages that the released water may cause along the River Benue basin in both Cameroon and in Nigeria.
The Ministry of Foreign Affairs has alerted the National Emergency Management Agency over impending flooding along the River Benue basin.
Umar Salisu, the Ministry’s Director of African Affairs says the Cameroonian government plans to open the flood gates of the Lagdo Dam on the Benue River in days ahead.
It noted that this is due to the heavy rainfall around the dam catchment area in Northern Cameroon
He says the release of water becomes necessary, the authorities of the Lagdo Dam will be releasing only modulated variable small amount of water at a time in order to mitigate and avoid damages that the released water may cause along the River Benue basin in both Cameroon and in Nigeria.
The Ministry of Foreign Affairs has alerted the National Emergency Management Agency over impending flooding along the River Benue basin.
Umar Salisu, the Ministry’s Director of African Affairs says the Cameroonian government plans to open the flood gates of the Lagdo Dam on the Benue River in days ahead.
It noted that this is due to the heavy rainfall around the dam catchment area in Northern Cameroon
He says the release of water becomes necessary, the authorities of the Lagdo Dam will be releasing only modulated variable small amount of water at a time in order to mitigate and avoid damages that the released water may cause along the River Benue basin in both Cameroon and in Nigeria.
The Ministry of Foreign Affairs has alerted the National Emergency Management Agency over impending flooding along the River Benue basin.
Umar Salisu, the Ministry’s Director of African Affairs says the Cameroonian government plans to open the flood gates of the Lagdo Dam on the Benue River in days ahead.
It noted that this is due to the heavy rainfall around the dam catchment area in Northern Cameroon
He says the release of water becomes necessary, the authorities of the Lagdo Dam will be releasing only modulated variable small amount of water at a time in order to mitigate and avoid damages that the released water may cause along the River Benue basin in both Cameroon and in Nigeria.
The Ministry of Foreign Affairs has alerted the National Emergency Management Agency over impending flooding along the River Benue basin.
Umar Salisu, the Ministry’s Director of African Affairs says the Cameroonian government plans to open the flood gates of the Lagdo Dam on the Benue River in days ahead.
It noted that this is due to the heavy rainfall around the dam catchment area in Northern Cameroon
He says the release of water becomes necessary, the authorities of the Lagdo Dam will be releasing only modulated variable small amount of water at a time in order to mitigate and avoid damages that the released water may cause along the River Benue basin in both Cameroon and in Nigeria.
Google, Facebook, TikTok and other Big Tech companies operating in the European Union are facing one of the most far-reaching efforts to clean up what people encounter online.
The first phase of the bloc’s groundbreaking new digital rules will take effect soon.
The Digital Services Act which the biggest platforms must start following on Friday, is designed to keep users safe online and stop the spread of harmful content that is either illegal or violates a platform’s terms of service, such as the promotion of genocide or anorexia.
Some online platforms, which could face billions in fines if they do not comply, have already started making changes.
Google, Facebook, TikTok and other Big Tech companies operating in the European Union are facing one of the most far-reaching efforts to clean up what people encounter online.
The first phase of the bloc’s groundbreaking new digital rules will take effect soon.
The Digital Services Act which the biggest platforms must start following on Friday, is designed to keep users safe online and stop the spread of harmful content that is either illegal or violates a platform’s terms of service, such as the promotion of genocide or anorexia.
Some online platforms, which could face billions in fines if they do not comply, have already started making changes.
Google, Facebook, TikTok and other Big Tech companies operating in the European Union are facing one of the most far-reaching efforts to clean up what people encounter online.
The first phase of the bloc’s groundbreaking new digital rules will take effect soon.
The Digital Services Act which the biggest platforms must start following on Friday, is designed to keep users safe online and stop the spread of harmful content that is either illegal or violates a platform’s terms of service, such as the promotion of genocide or anorexia.
Some online platforms, which could face billions in fines if they do not comply, have already started making changes.
Google, Facebook, TikTok and other Big Tech companies operating in the European Union are facing one of the most far-reaching efforts to clean up what people encounter online.
The first phase of the bloc’s groundbreaking new digital rules will take effect soon.
The Digital Services Act which the biggest platforms must start following on Friday, is designed to keep users safe online and stop the spread of harmful content that is either illegal or violates a platform’s terms of service, such as the promotion of genocide or anorexia.
Some online platforms, which could face billions in fines if they do not comply, have already started making changes.
Google, Facebook, TikTok and other Big Tech companies operating in the European Union are facing one of the most far-reaching efforts to clean up what people encounter online.
The first phase of the bloc’s groundbreaking new digital rules will take effect soon.
The Digital Services Act which the biggest platforms must start following on Friday, is designed to keep users safe online and stop the spread of harmful content that is either illegal or violates a platform’s terms of service, such as the promotion of genocide or anorexia.
Some online platforms, which could face billions in fines if they do not comply, have already started making changes.
Google, Facebook, TikTok and other Big Tech companies operating in the European Union are facing one of the most far-reaching efforts to clean up what people encounter online.
The first phase of the bloc’s groundbreaking new digital rules will take effect soon.
The Digital Services Act which the biggest platforms must start following on Friday, is designed to keep users safe online and stop the spread of harmful content that is either illegal or violates a platform’s terms of service, such as the promotion of genocide or anorexia.
Some online platforms, which could face billions in fines if they do not comply, have already started making changes.
Japan will start releasing treated radioactive water from the tsunami-hit Fukushima nuclear plant into the Pacific Ocean despite opposition from its neighbours.
The decision comes weeks after the UN's nuclear watchdog approved the plan.
Some 1.34 million tonnes of water - enough to fill 500 Olympic-size pools - have accumulated since the 2011 tsunami destroyed the plant.
Japan's Prime Minister Fumio Kishida says the water will be released over 30 years after being filtered and diluted.
The government says that releasing the water is a necessary step in the lengthy and costly process of decommissioning the plant.
Japan will start releasing treated radioactive water from the tsunami-hit Fukushima nuclear plant into the Pacific Ocean despite opposition from its neighbours.
The decision comes weeks after the UN's nuclear watchdog approved the plan.
Some 1.34 million tonnes of water - enough to fill 500 Olympic-size pools - have accumulated since the 2011 tsunami destroyed the plant.
Japan's Prime Minister Fumio Kishida says the water will be released over 30 years after being filtered and diluted.
The government says that releasing the water is a necessary step in the lengthy and costly process of decommissioning the plant.
Japan will start releasing treated radioactive water from the tsunami-hit Fukushima nuclear plant into the Pacific Ocean despite opposition from its neighbours.
The decision comes weeks after the UN's nuclear watchdog approved the plan.
Some 1.34 million tonnes of water - enough to fill 500 Olympic-size pools - have accumulated since the 2011 tsunami destroyed the plant.
Japan's Prime Minister Fumio Kishida says the water will be released over 30 years after being filtered and diluted.
The government says that releasing the water is a necessary step in the lengthy and costly process of decommissioning the plant.
Japan will start releasing treated radioactive water from the tsunami-hit Fukushima nuclear plant into the Pacific Ocean despite opposition from its neighbours.
The decision comes weeks after the UN's nuclear watchdog approved the plan.
Some 1.34 million tonnes of water - enough to fill 500 Olympic-size pools - have accumulated since the 2011 tsunami destroyed the plant.
Japan's Prime Minister Fumio Kishida says the water will be released over 30 years after being filtered and diluted.
The government says that releasing the water is a necessary step in the lengthy and costly process of decommissioning the plant.
Japan will start releasing treated radioactive water from the tsunami-hit Fukushima nuclear plant into the Pacific Ocean despite opposition from its neighbours.
The decision comes weeks after the UN's nuclear watchdog approved the plan.
Some 1.34 million tonnes of water - enough to fill 500 Olympic-size pools - have accumulated since the 2011 tsunami destroyed the plant.
Japan's Prime Minister Fumio Kishida says the water will be released over 30 years after being filtered and diluted.
The government says that releasing the water is a necessary step in the lengthy and costly process of decommissioning the plant.
Japan will start releasing treated radioactive water from the tsunami-hit Fukushima nuclear plant into the Pacific Ocean despite opposition from its neighbours.
The decision comes weeks after the UN's nuclear watchdog approved the plan.
Some 1.34 million tonnes of water - enough to fill 500 Olympic-size pools - have accumulated since the 2011 tsunami destroyed the plant.
Japan's Prime Minister Fumio Kishida says the water will be released over 30 years after being filtered and diluted.
The government says that releasing the water is a necessary step in the lengthy and costly process of decommissioning the plant.
South Africa’s electricity minister has raised concerns about the failure of municipalities to settle their bills with the state-owned power company, Eskom.
Kgosientsho Ramokgopa says that municipalities owed Eskom 63.2bn rand (£2.6bn).
He says this erodes the bottom line of Eskom and means the company is not in a position to respond to the country’s electricity challenges.
Mr Ramokgopa added that the debt had increased by 4.7bn rand over the past year.
South Africa’s power crisis has been blamed on poor management and corruption.
South Africa’s electricity minister has raised concerns about the failure of municipalities to settle their bills with the state-owned power company, Eskom.
Kgosientsho Ramokgopa says that municipalities owed Eskom 63.2bn rand (£2.6bn).
He says this erodes the bottom line of Eskom and means the company is not in a position to respond to the country’s electricity challenges.
Mr Ramokgopa added that the debt had increased by 4.7bn rand over the past year.
South Africa’s power crisis has been blamed on poor management and corruption.
South Africa’s electricity minister has raised concerns about the failure of municipalities to settle their bills with the state-owned power company, Eskom.
Kgosientsho Ramokgopa says that municipalities owed Eskom 63.2bn rand (£2.6bn).
He says this erodes the bottom line of Eskom and means the company is not in a position to respond to the country’s electricity challenges.
Mr Ramokgopa added that the debt had increased by 4.7bn rand over the past year.
South Africa’s power crisis has been blamed on poor management and corruption.
South Africa’s electricity minister has raised concerns about the failure of municipalities to settle their bills with the state-owned power company, Eskom.
Kgosientsho Ramokgopa says that municipalities owed Eskom 63.2bn rand (£2.6bn).
He says this erodes the bottom line of Eskom and means the company is not in a position to respond to the country’s electricity challenges.
Mr Ramokgopa added that the debt had increased by 4.7bn rand over the past year.
South Africa’s power crisis has been blamed on poor management and corruption.
South Africa’s electricity minister has raised concerns about the failure of municipalities to settle their bills with the state-owned power company, Eskom.
Kgosientsho Ramokgopa says that municipalities owed Eskom 63.2bn rand (£2.6bn).
He says this erodes the bottom line of Eskom and means the company is not in a position to respond to the country’s electricity challenges.
Mr Ramokgopa added that the debt had increased by 4.7bn rand over the past year.
South Africa’s power crisis has been blamed on poor management and corruption.
South Africa’s electricity minister has raised concerns about the failure of municipalities to settle their bills with the state-owned power company, Eskom.
Kgosientsho Ramokgopa says that municipalities owed Eskom 63.2bn rand (£2.6bn).
He says this erodes the bottom line of Eskom and means the company is not in a position to respond to the country’s electricity challenges.
Mr Ramokgopa added that the debt had increased by 4.7bn rand over the past year.
South Africa’s power crisis has been blamed on poor management and corruption.
The Economic Community of West African States has disproved claims of manipulation of external powers in its efforts to resolve the political instability in Niger Republic.
ECOWAS Commissioner for Political Affairs, Peace and Security, Abdel-Fatau Musah says foreign support is not part of the consideration of the West African body.
The ambassador stated that even if force is used to remove the Junta, the countries showing support on the ground, including ECOWAS, will remain neutral and make independent decisions.
He noted that ECOWAS has not given any consideration to the complexities of the nationals and multinationals who have given a foot on the ground.
The Economic Community of West African States has disproved claims of manipulation of external powers in its efforts to resolve the political instability in Niger Republic.
ECOWAS Commissioner for Political Affairs, Peace and Security, Abdel-Fatau Musah says foreign support is not part of the consideration of the West African body.
The ambassador stated that even if force is used to remove the Junta, the countries showing support on the ground, including ECOWAS, will remain neutral and make independent decisions.
He noted that ECOWAS has not given any consideration to the complexities of the nationals and multinationals who have given a foot on the ground.
The Economic Community of West African States has disproved claims of manipulation of external powers in its efforts to resolve the political instability in Niger Republic.
ECOWAS Commissioner for Political Affairs, Peace and Security, Abdel-Fatau Musah says foreign support is not part of the consideration of the West African body.
The ambassador stated that even if force is used to remove the Junta, the countries showing support on the ground, including ECOWAS, will remain neutral and make independent decisions.
He noted that ECOWAS has not given any consideration to the complexities of the nationals and multinationals who have given a foot on the ground.
The Economic Community of West African States has disproved claims of manipulation of external powers in its efforts to resolve the political instability in Niger Republic.
ECOWAS Commissioner for Political Affairs, Peace and Security, Abdel-Fatau Musah says foreign support is not part of the consideration of the West African body.
The ambassador stated that even if force is used to remove the Junta, the countries showing support on the ground, including ECOWAS, will remain neutral and make independent decisions.
He noted that ECOWAS has not given any consideration to the complexities of the nationals and multinationals who have given a foot on the ground.
The Economic Community of West African States has disproved claims of manipulation of external powers in its efforts to resolve the political instability in Niger Republic.
ECOWAS Commissioner for Political Affairs, Peace and Security, Abdel-Fatau Musah says foreign support is not part of the consideration of the West African body.
The ambassador stated that even if force is used to remove the Junta, the countries showing support on the ground, including ECOWAS, will remain neutral and make independent decisions.
He noted that ECOWAS has not given any consideration to the complexities of the nationals and multinationals who have given a foot on the ground.
The Economic Community of West African States has disproved claims of manipulation of external powers in its efforts to resolve the political instability in Niger Republic.
ECOWAS Commissioner for Political Affairs, Peace and Security, Abdel-Fatau Musah says foreign support is not part of the consideration of the West African body.
The ambassador stated that even if force is used to remove the Junta, the countries showing support on the ground, including ECOWAS, will remain neutral and make independent decisions.
He noted that ECOWAS has not given any consideration to the complexities of the nationals and multinationals who have given a foot on the ground.
The Central African Republic's top court has approved the outcome of the July referendum that increases the length of a presidential term to seven years and removes limits on re-election.
The court declared that an overwhelming majority of 95% approved the vote, and turnout at just above 57%.
The new law creates an office of a vice-president, appointed by the president, and a unicameral parliament, doing away with the senate.
It also bans politicians with dual citizenship from running for president and increases the number of Supreme Court judges from nine to 11.
The Central African Republic's top court has approved the outcome of the July referendum that increases the length of a presidential term to seven years and removes limits on re-election.
The court declared that an overwhelming majority of 95% approved the vote, and turnout at just above 57%.
The new law creates an office of a vice-president, appointed by the president, and a unicameral parliament, doing away with the senate.
It also bans politicians with dual citizenship from running for president and increases the number of Supreme Court judges from nine to 11.
The Central African Republic's top court has approved the outcome of the July referendum that increases the length of a presidential term to seven years and removes limits on re-election.
The court declared that an overwhelming majority of 95% approved the vote, and turnout at just above 57%.
The new law creates an office of a vice-president, appointed by the president, and a unicameral parliament, doing away with the senate.
It also bans politicians with dual citizenship from running for president and increases the number of Supreme Court judges from nine to 11.
The Central African Republic's top court has approved the outcome of the July referendum that increases the length of a presidential term to seven years and removes limits on re-election.
The court declared that an overwhelming majority of 95% approved the vote, and turnout at just above 57%.
The new law creates an office of a vice-president, appointed by the president, and a unicameral parliament, doing away with the senate.
It also bans politicians with dual citizenship from running for president and increases the number of Supreme Court judges from nine to 11.
The Central African Republic's top court has approved the outcome of the July referendum that increases the length of a presidential term to seven years and removes limits on re-election.
The court declared that an overwhelming majority of 95% approved the vote, and turnout at just above 57%.
The new law creates an office of a vice-president, appointed by the president, and a unicameral parliament, doing away with the senate.
It also bans politicians with dual citizenship from running for president and increases the number of Supreme Court judges from nine to 11.
The Central African Republic's top court has approved the outcome of the July referendum that increases the length of a presidential term to seven years and removes limits on re-election.
The court declared that an overwhelming majority of 95% approved the vote, and turnout at just above 57%.
The new law creates an office of a vice-president, appointed by the president, and a unicameral parliament, doing away with the senate.
It also bans politicians with dual citizenship from running for president and increases the number of Supreme Court judges from nine to 11.
The African Union has suspended Niger from all its activities following the military coup last month.
The AU Peace and Security Council called on all of its member states and the international community to refrain from any action that could legitimise the junta in Niger.
It reiterated calls for the coup leaders to release the elected President Mohamed Bazoum.
The West African regional grouping Ecowas has already threatened military action to reinstate him.
The African Union has suspended Niger from all its activities following the military coup last month.
The AU Peace and Security Council called on all of its member states and the international community to refrain from any action that could legitimise the junta in Niger.
It reiterated calls for the coup leaders to release the elected President Mohamed Bazoum.
The West African regional grouping Ecowas has already threatened military action to reinstate him.
The African Union has suspended Niger from all its activities following the military coup last month.
The AU Peace and Security Council called on all of its member states and the international community to refrain from any action that could legitimise the junta in Niger.
It reiterated calls for the coup leaders to release the elected President Mohamed Bazoum.
The West African regional grouping Ecowas has already threatened military action to reinstate him.
The African Union has suspended Niger from all its activities following the military coup last month.
The AU Peace and Security Council called on all of its member states and the international community to refrain from any action that could legitimise the junta in Niger.
It reiterated calls for the coup leaders to release the elected President Mohamed Bazoum.
The West African regional grouping Ecowas has already threatened military action to reinstate him.
The African Union has suspended Niger from all its activities following the military coup last month.
The AU Peace and Security Council called on all of its member states and the international community to refrain from any action that could legitimise the junta in Niger.
It reiterated calls for the coup leaders to release the elected President Mohamed Bazoum.
The West African regional grouping Ecowas has already threatened military action to reinstate him.
The African Union has suspended Niger from all its activities following the military coup last month.
The AU Peace and Security Council called on all of its member states and the international community to refrain from any action that could legitimise the junta in Niger.
It reiterated calls for the coup leaders to release the elected President Mohamed Bazoum.
The West African regional grouping Ecowas has already threatened military action to reinstate him.
The National Council of Women Society and its affiliate bodies have called on the public to disregard any rumour or misrepresentation regarding the Imo State Violence Against Persons Prohibition Law 2021.
The NCWS says one of the fallacies and misrepresentations of the law is that it legalizes abortion.
The women’s group says the VAPP law which has been domesticated in the state is strictly a legal document that addresses violence against persons for both males and females.
They urge the state government to disregard attempts to blackmail the VAPP Law but continue to support it by budgetary allocation towards full enforcement and implementation.
The National Council of Women Society and its affiliate bodies have called on the public to disregard any rumour or misrepresentation regarding the Imo State Violence Against Persons Prohibition Law 2021.
The NCWS says one of the fallacies and misrepresentations of the law is that it legalizes abortion.
The women’s group says the VAPP law which has been domesticated in the state is strictly a legal document that addresses violence against persons for both males and females.
They urge the state government to disregard attempts to blackmail the VAPP Law but continue to support it by budgetary allocation towards full enforcement and implementation.
The National Council of Women Society and its affiliate bodies have called on the public to disregard any rumour or misrepresentation regarding the Imo State Violence Against Persons Prohibition Law 2021.
The NCWS says one of the fallacies and misrepresentations of the law is that it legalizes abortion.
The women’s group says the VAPP law which has been domesticated in the state is strictly a legal document that addresses violence against persons for both males and females.
They urge the state government to disregard attempts to blackmail the VAPP Law but continue to support it by budgetary allocation towards full enforcement and implementation.
The National Council of Women Society and its affiliate bodies have called on the public to disregard any rumour or misrepresentation regarding the Imo State Violence Against Persons Prohibition Law 2021.
The NCWS says one of the fallacies and misrepresentations of the law is that it legalizes abortion.
The women’s group says the VAPP law which has been domesticated in the state is strictly a legal document that addresses violence against persons for both males and females.
They urge the state government to disregard attempts to blackmail the VAPP Law but continue to support it by budgetary allocation towards full enforcement and implementation.
The National Council of Women Society and its affiliate bodies have called on the public to disregard any rumour or misrepresentation regarding the Imo State Violence Against Persons Prohibition Law 2021.
The NCWS says one of the fallacies and misrepresentations of the law is that it legalizes abortion.
The women’s group says the VAPP law which has been domesticated in the state is strictly a legal document that addresses violence against persons for both males and females.
They urge the state government to disregard attempts to blackmail the VAPP Law but continue to support it by budgetary allocation towards full enforcement and implementation.
The National Council of Women Society and its affiliate bodies have called on the public to disregard any rumour or misrepresentation regarding the Imo State Violence Against Persons Prohibition Law 2021.
The NCWS says one of the fallacies and misrepresentations of the law is that it legalizes abortion.
The women’s group says the VAPP law which has been domesticated in the state is strictly a legal document that addresses violence against persons for both males and females.
They urge the state government to disregard attempts to blackmail the VAPP Law but continue to support it by budgetary allocation towards full enforcement and implementation.
The Kaduna State government has reduced tuition fees for state-owned tertiary institutions as part of efforts to cushion the effect of the rising cost of living in the wake of the petroleum subsidy removal.
The tuition fees were slashed between 30 to 50 per cent for students of the Kaduna State University, Nuhu Bamali Polytechnic, and Kaduna State College of Education, Gidan Waya among others.
Governor Uba Sani, says the move is in response to an outcry over fees charged by tertiary institutions in the state and its effect on school enrolment and retention.
He also restated his resolve to make the welfare of the people a priority of his administration.
The Kaduna State government has reduced tuition fees for state-owned tertiary institutions as part of efforts to cushion the effect of the rising cost of living in the wake of the petroleum subsidy removal.
The tuition fees were slashed between 30 to 50 per cent for students of the Kaduna State University, Nuhu Bamali Polytechnic, and Kaduna State College of Education, Gidan Waya among others.
Governor Uba Sani, says the move is in response to an outcry over fees charged by tertiary institutions in the state and its effect on school enrolment and retention.
He also restated his resolve to make the welfare of the people a priority of his administration.
The Kaduna State government has reduced tuition fees for state-owned tertiary institutions as part of efforts to cushion the effect of the rising cost of living in the wake of the petroleum subsidy removal.
The tuition fees were slashed between 30 to 50 per cent for students of the Kaduna State University, Nuhu Bamali Polytechnic, and Kaduna State College of Education, Gidan Waya among others.
Governor Uba Sani, says the move is in response to an outcry over fees charged by tertiary institutions in the state and its effect on school enrolment and retention.
He also restated his resolve to make the welfare of the people a priority of his administration.
The Kaduna State government has reduced tuition fees for state-owned tertiary institutions as part of efforts to cushion the effect of the rising cost of living in the wake of the petroleum subsidy removal.
The tuition fees were slashed between 30 to 50 per cent for students of the Kaduna State University, Nuhu Bamali Polytechnic, and Kaduna State College of Education, Gidan Waya among others.
Governor Uba Sani, says the move is in response to an outcry over fees charged by tertiary institutions in the state and its effect on school enrolment and retention.
He also restated his resolve to make the welfare of the people a priority of his administration.
The Kaduna State government has reduced tuition fees for state-owned tertiary institutions as part of efforts to cushion the effect of the rising cost of living in the wake of the petroleum subsidy removal.
The tuition fees were slashed between 30 to 50 per cent for students of the Kaduna State University, Nuhu Bamali Polytechnic, and Kaduna State College of Education, Gidan Waya among others.
Governor Uba Sani, says the move is in response to an outcry over fees charged by tertiary institutions in the state and its effect on school enrolment and retention.
He also restated his resolve to make the welfare of the people a priority of his administration.
The Kaduna State government has reduced tuition fees for state-owned tertiary institutions as part of efforts to cushion the effect of the rising cost of living in the wake of the petroleum subsidy removal.
The tuition fees were slashed between 30 to 50 per cent for students of the Kaduna State University, Nuhu Bamali Polytechnic, and Kaduna State College of Education, Gidan Waya among others.
Governor Uba Sani, says the move is in response to an outcry over fees charged by tertiary institutions in the state and its effect on school enrolment and retention.
He also restated his resolve to make the welfare of the people a priority of his administration.
The Minister of Steel Development, Shuaibu Audu, has stressed the need to resuscitate the Ajaokuta Steel Company.
Audu affirmed his commitment to restoring the moribund steel plant.
He says he will set a roadmap for the development of the steel sector, aggressively pursue the completion of Ajaokuta steel, and enact required bills to regulate the steel sector, among others.
He says they aim to start the engine and ensure that we produce at least a small sheet of steel within this administration.
The Minister of Steel Development, Shuaibu Audu, has stressed the need to resuscitate the Ajaokuta Steel Company.
Audu affirmed his commitment to restoring the moribund steel plant.
He says he will set a roadmap for the development of the steel sector, aggressively pursue the completion of Ajaokuta steel, and enact required bills to regulate the steel sector, among others.
He says they aim to start the engine and ensure that we produce at least a small sheet of steel within this administration.
The Minister of Steel Development, Shuaibu Audu, has stressed the need to resuscitate the Ajaokuta Steel Company.
Audu affirmed his commitment to restoring the moribund steel plant.
He says he will set a roadmap for the development of the steel sector, aggressively pursue the completion of Ajaokuta steel, and enact required bills to regulate the steel sector, among others.
He says they aim to start the engine and ensure that we produce at least a small sheet of steel within this administration.
The Minister of Steel Development, Shuaibu Audu, has stressed the need to resuscitate the Ajaokuta Steel Company.
Audu affirmed his commitment to restoring the moribund steel plant.
He says he will set a roadmap for the development of the steel sector, aggressively pursue the completion of Ajaokuta steel, and enact required bills to regulate the steel sector, among others.
He says they aim to start the engine and ensure that we produce at least a small sheet of steel within this administration.
The Minister of Steel Development, Shuaibu Audu, has stressed the need to resuscitate the Ajaokuta Steel Company.
Audu affirmed his commitment to restoring the moribund steel plant.
He says he will set a roadmap for the development of the steel sector, aggressively pursue the completion of Ajaokuta steel, and enact required bills to regulate the steel sector, among others.
He says they aim to start the engine and ensure that we produce at least a small sheet of steel within this administration.
The Minister of Steel Development, Shuaibu Audu, has stressed the need to resuscitate the Ajaokuta Steel Company.
Audu affirmed his commitment to restoring the moribund steel plant.
He says he will set a roadmap for the development of the steel sector, aggressively pursue the completion of Ajaokuta steel, and enact required bills to regulate the steel sector, among others.
He says they aim to start the engine and ensure that we produce at least a small sheet of steel within this administration.
China’s central bank has cut a key interest rate amid concerns about the post-pandemic recovery of the world’s second-largest economy.
The People’s Bank of China cut the one-year loan prime rate, a benchmark for corporate loans, from 3.55 per cent to 3.45 per cent.
The central bank held the five-year LPR, which is used to price mortgages, steady at 4.2 per cent.
China’s post-COVID recovery has been hampered by weakening demand for Chinese goods due to the uncertain global economic outlook and domestic challenges ranging from a slumping property market to a record-low birth rate.
China last week also announced it would no longer publish detailed youth unemployment figures after the jobless rate hit 21.3 per cent in June.
China’s central bank has cut a key interest rate amid concerns about the post-pandemic recovery of the world’s second-largest economy.
The People’s Bank of China cut the one-year loan prime rate, a benchmark for corporate loans, from 3.55 per cent to 3.45 per cent.
The central bank held the five-year LPR, which is used to price mortgages, steady at 4.2 per cent.
China’s post-COVID recovery has been hampered by weakening demand for Chinese goods due to the uncertain global economic outlook and domestic challenges ranging from a slumping property market to a record-low birth rate.
China last week also announced it would no longer publish detailed youth unemployment figures after the jobless rate hit 21.3 per cent in June.
China’s central bank has cut a key interest rate amid concerns about the post-pandemic recovery of the world’s second-largest economy.
The People’s Bank of China cut the one-year loan prime rate, a benchmark for corporate loans, from 3.55 per cent to 3.45 per cent.
The central bank held the five-year LPR, which is used to price mortgages, steady at 4.2 per cent.
China’s post-COVID recovery has been hampered by weakening demand for Chinese goods due to the uncertain global economic outlook and domestic challenges ranging from a slumping property market to a record-low birth rate.
China last week also announced it would no longer publish detailed youth unemployment figures after the jobless rate hit 21.3 per cent in June.
China’s central bank has cut a key interest rate amid concerns about the post-pandemic recovery of the world’s second-largest economy.
The People’s Bank of China cut the one-year loan prime rate, a benchmark for corporate loans, from 3.55 per cent to 3.45 per cent.
The central bank held the five-year LPR, which is used to price mortgages, steady at 4.2 per cent.
China’s post-COVID recovery has been hampered by weakening demand for Chinese goods due to the uncertain global economic outlook and domestic challenges ranging from a slumping property market to a record-low birth rate.
China last week also announced it would no longer publish detailed youth unemployment figures after the jobless rate hit 21.3 per cent in June.
China’s central bank has cut a key interest rate amid concerns about the post-pandemic recovery of the world’s second-largest economy.
The People’s Bank of China cut the one-year loan prime rate, a benchmark for corporate loans, from 3.55 per cent to 3.45 per cent.
The central bank held the five-year LPR, which is used to price mortgages, steady at 4.2 per cent.
China’s post-COVID recovery has been hampered by weakening demand for Chinese goods due to the uncertain global economic outlook and domestic challenges ranging from a slumping property market to a record-low birth rate.
China last week also announced it would no longer publish detailed youth unemployment figures after the jobless rate hit 21.3 per cent in June.
China’s central bank has cut a key interest rate amid concerns about the post-pandemic recovery of the world’s second-largest economy.
The People’s Bank of China cut the one-year loan prime rate, a benchmark for corporate loans, from 3.55 per cent to 3.45 per cent.
The central bank held the five-year LPR, which is used to price mortgages, steady at 4.2 per cent.
China’s post-COVID recovery has been hampered by weakening demand for Chinese goods due to the uncertain global economic outlook and domestic challenges ranging from a slumping property market to a record-low birth rate.
China last week also announced it would no longer publish detailed youth unemployment figures after the jobless rate hit 21.3 per cent in June.
Pakistan’s President Arif Alvi has refused to sign into law two bills that would give authorities more power to prosecute people for acts against the state and military, a move the law ministry said was unconstitutional.
The bills have already been passed by both houses of Pakistan’s parliament, but Alvi is a member of former Prime Minister Imran Khan’s Pakistan Tehreek-e-Insaf party, which opposes the coalition government that passed the two bills.
Alvi says he did not sign Official Secrets Amendment Bill 2023 & Pakistan Army Amendment Bill 2023 because he disagreed with these laws.
Pakistan’s President Arif Alvi has refused to sign into law two bills that would give authorities more power to prosecute people for acts against the state and military, a move the law ministry said was unconstitutional.
The bills have already been passed by both houses of Pakistan’s parliament, but Alvi is a member of former Prime Minister Imran Khan’s Pakistan Tehreek-e-Insaf party, which opposes the coalition government that passed the two bills.
Alvi says he did not sign Official Secrets Amendment Bill 2023 & Pakistan Army Amendment Bill 2023 because he disagreed with these laws.
Pakistan’s President Arif Alvi has refused to sign into law two bills that would give authorities more power to prosecute people for acts against the state and military, a move the law ministry said was unconstitutional.
The bills have already been passed by both houses of Pakistan’s parliament, but Alvi is a member of former Prime Minister Imran Khan’s Pakistan Tehreek-e-Insaf party, which opposes the coalition government that passed the two bills.
Alvi says he did not sign Official Secrets Amendment Bill 2023 & Pakistan Army Amendment Bill 2023 because he disagreed with these laws.
Pakistan’s President Arif Alvi has refused to sign into law two bills that would give authorities more power to prosecute people for acts against the state and military, a move the law ministry said was unconstitutional.
The bills have already been passed by both houses of Pakistan’s parliament, but Alvi is a member of former Prime Minister Imran Khan’s Pakistan Tehreek-e-Insaf party, which opposes the coalition government that passed the two bills.
Alvi says he did not sign Official Secrets Amendment Bill 2023 & Pakistan Army Amendment Bill 2023 because he disagreed with these laws.
Pakistan’s President Arif Alvi has refused to sign into law two bills that would give authorities more power to prosecute people for acts against the state and military, a move the law ministry said was unconstitutional.
The bills have already been passed by both houses of Pakistan’s parliament, but Alvi is a member of former Prime Minister Imran Khan’s Pakistan Tehreek-e-Insaf party, which opposes the coalition government that passed the two bills.
Alvi says he did not sign Official Secrets Amendment Bill 2023 & Pakistan Army Amendment Bill 2023 because he disagreed with these laws.
Pakistan’s President Arif Alvi has refused to sign into law two bills that would give authorities more power to prosecute people for acts against the state and military, a move the law ministry said was unconstitutional.
The bills have already been passed by both houses of Pakistan’s parliament, but Alvi is a member of former Prime Minister Imran Khan’s Pakistan Tehreek-e-Insaf party, which opposes the coalition government that passed the two bills.
Alvi says he did not sign Official Secrets Amendment Bill 2023 & Pakistan Army Amendment Bill 2023 because he disagreed with these laws.
South Africa's President Cyril Ramaphosa has reiterated that his country will not be drawn into global power dynamics.
Mr Ramaphosa's televised address came ahead of the meeting of the BRICS nations - Brazil, Russia, India, China and South Africa - in Johannesburg.
He says they will not be drawn into a contest between global powers.
He noted, however, that this "does not mean that we are neutral on matters of principle and national interest"
Russia's President Vladimir Putin will participate virtually after he reached an agreement with Mr Ramaphosa not to attend.
South Africa's President Cyril Ramaphosa has reiterated that his country will not be drawn into global power dynamics.
Mr Ramaphosa's televised address came ahead of the meeting of the BRICS nations - Brazil, Russia, India, China and South Africa - in Johannesburg.
He says they will not be drawn into a contest between global powers.
He noted, however, that this "does not mean that we are neutral on matters of principle and national interest"
Russia's President Vladimir Putin will participate virtually after he reached an agreement with Mr Ramaphosa not to attend.
South Africa's President Cyril Ramaphosa has reiterated that his country will not be drawn into global power dynamics.
Mr Ramaphosa's televised address came ahead of the meeting of the BRICS nations - Brazil, Russia, India, China and South Africa - in Johannesburg.
He says they will not be drawn into a contest between global powers.
He noted, however, that this "does not mean that we are neutral on matters of principle and national interest"
Russia's President Vladimir Putin will participate virtually after he reached an agreement with Mr Ramaphosa not to attend.
South Africa's President Cyril Ramaphosa has reiterated that his country will not be drawn into global power dynamics.
Mr Ramaphosa's televised address came ahead of the meeting of the BRICS nations - Brazil, Russia, India, China and South Africa - in Johannesburg.
He says they will not be drawn into a contest between global powers.
He noted, however, that this "does not mean that we are neutral on matters of principle and national interest"
Russia's President Vladimir Putin will participate virtually after he reached an agreement with Mr Ramaphosa not to attend.
South Africa's President Cyril Ramaphosa has reiterated that his country will not be drawn into global power dynamics.
Mr Ramaphosa's televised address came ahead of the meeting of the BRICS nations - Brazil, Russia, India, China and South Africa - in Johannesburg.
He says they will not be drawn into a contest between global powers.
He noted, however, that this "does not mean that we are neutral on matters of principle and national interest"
Russia's President Vladimir Putin will participate virtually after he reached an agreement with Mr Ramaphosa not to attend.
South Africa's President Cyril Ramaphosa has reiterated that his country will not be drawn into global power dynamics.
Mr Ramaphosa's televised address came ahead of the meeting of the BRICS nations - Brazil, Russia, India, China and South Africa - in Johannesburg.
He says they will not be drawn into a contest between global powers.
He noted, however, that this "does not mean that we are neutral on matters of principle and national interest"
Russia's President Vladimir Putin will participate virtually after he reached an agreement with Mr Ramaphosa not to attend.
Niger’s new military ruler says a transition of power would not go beyond three years, and warned that any attack on the country would not be easy for those involved.
General Abdourahamane Tiani says their ambition is not to confiscate power adding that any transition of power would not go beyond three years.
He says ECOWAS is getting ready to attack Niger by setting up an occupying army in collaboration with a foreign army without saying which country he meant.
Tiania denounced what he called the illegal and inhuman sanctions levied by ECOWAS against Niger since the military seized power.
He also announced a 30-day period of national dialogue” to draw up concrete proposals to lay the foundations of a new constitutional life.
Niger’s new military ruler says a transition of power would not go beyond three years, and warned that any attack on the country would not be easy for those involved.
General Abdourahamane Tiani says their ambition is not to confiscate power adding that any transition of power would not go beyond three years.
He says ECOWAS is getting ready to attack Niger by setting up an occupying army in collaboration with a foreign army without saying which country he meant.
Tiania denounced what he called the illegal and inhuman sanctions levied by ECOWAS against Niger since the military seized power.
He also announced a 30-day period of national dialogue” to draw up concrete proposals to lay the foundations of a new constitutional life.
Niger’s new military ruler says a transition of power would not go beyond three years, and warned that any attack on the country would not be easy for those involved.
General Abdourahamane Tiani says their ambition is not to confiscate power adding that any transition of power would not go beyond three years.
He says ECOWAS is getting ready to attack Niger by setting up an occupying army in collaboration with a foreign army without saying which country he meant.
Tiania denounced what he called the illegal and inhuman sanctions levied by ECOWAS against Niger since the military seized power.
He also announced a 30-day period of national dialogue” to draw up concrete proposals to lay the foundations of a new constitutional life.
Niger’s new military ruler says a transition of power would not go beyond three years, and warned that any attack on the country would not be easy for those involved.
General Abdourahamane Tiani says their ambition is not to confiscate power adding that any transition of power would not go beyond three years.
He says ECOWAS is getting ready to attack Niger by setting up an occupying army in collaboration with a foreign army without saying which country he meant.
Tiania denounced what he called the illegal and inhuman sanctions levied by ECOWAS against Niger since the military seized power.
He also announced a 30-day period of national dialogue” to draw up concrete proposals to lay the foundations of a new constitutional life.
Niger’s new military ruler says a transition of power would not go beyond three years, and warned that any attack on the country would not be easy for those involved.
General Abdourahamane Tiani says their ambition is not to confiscate power adding that any transition of power would not go beyond three years.
He says ECOWAS is getting ready to attack Niger by setting up an occupying army in collaboration with a foreign army without saying which country he meant.
Tiania denounced what he called the illegal and inhuman sanctions levied by ECOWAS against Niger since the military seized power.
He also announced a 30-day period of national dialogue” to draw up concrete proposals to lay the foundations of a new constitutional life.
Niger’s new military ruler says a transition of power would not go beyond three years, and warned that any attack on the country would not be easy for those involved.
General Abdourahamane Tiani says their ambition is not to confiscate power adding that any transition of power would not go beyond three years.
He says ECOWAS is getting ready to attack Niger by setting up an occupying army in collaboration with a foreign army without saying which country he meant.
Tiania denounced what he called the illegal and inhuman sanctions levied by ECOWAS against Niger since the military seized power.
He also announced a 30-day period of national dialogue” to draw up concrete proposals to lay the foundations of a new constitutional life.
Governor Agbu Kefas of Taraba State says his administration is poised to better the lots of residents in all sectors of the state’s economy to ensure development gets to all nooks and crannies of the state.
Kefas says the rationale behind the compulsory free education policy at basic and secondary education levels is to lift the burden on parents and as a radical approach to the problem of insecurity by attacking it at the base.
The embassy officials promised to foster closer cooperation and facilitate linkages with the American government and US companies in the areas mentioned in a mutually beneficial manner.
Governor Agbu Kefas of Taraba State says his administration is poised to better the lots of residents in all sectors of the state’s economy to ensure development gets to all nooks and crannies of the state.
Kefas says the rationale behind the compulsory free education policy at basic and secondary education levels is to lift the burden on parents and as a radical approach to the problem of insecurity by attacking it at the base.
The embassy officials promised to foster closer cooperation and facilitate linkages with the American government and US companies in the areas mentioned in a mutually beneficial manner.
Governor Agbu Kefas of Taraba State says his administration is poised to better the lots of residents in all sectors of the state’s economy to ensure development gets to all nooks and crannies of the state.
Kefas says the rationale behind the compulsory free education policy at basic and secondary education levels is to lift the burden on parents and as a radical approach to the problem of insecurity by attacking it at the base.
The embassy officials promised to foster closer cooperation and facilitate linkages with the American government and US companies in the areas mentioned in a mutually beneficial manner.
Governor Agbu Kefas of Taraba State says his administration is poised to better the lots of residents in all sectors of the state’s economy to ensure development gets to all nooks and crannies of the state.
Kefas says the rationale behind the compulsory free education policy at basic and secondary education levels is to lift the burden on parents and as a radical approach to the problem of insecurity by attacking it at the base.
The embassy officials promised to foster closer cooperation and facilitate linkages with the American government and US companies in the areas mentioned in a mutually beneficial manner.
Governor Agbu Kefas of Taraba State says his administration is poised to better the lots of residents in all sectors of the state’s economy to ensure development gets to all nooks and crannies of the state.
Kefas says the rationale behind the compulsory free education policy at basic and secondary education levels is to lift the burden on parents and as a radical approach to the problem of insecurity by attacking it at the base.
The embassy officials promised to foster closer cooperation and facilitate linkages with the American government and US companies in the areas mentioned in a mutually beneficial manner.
Governor Agbu Kefas of Taraba State says his administration is poised to better the lots of residents in all sectors of the state’s economy to ensure development gets to all nooks and crannies of the state.
Kefas says the rationale behind the compulsory free education policy at basic and secondary education levels is to lift the burden on parents and as a radical approach to the problem of insecurity by attacking it at the base.
The embassy officials promised to foster closer cooperation and facilitate linkages with the American government and US companies in the areas mentioned in a mutually beneficial manner.
The current administration of Bola Tinubu is expected to pay off a $3.4bn owed to the International Monetary Fund during his tenure.
The IMF disbursed $3.4bn in emergency financial assistance to Nigeria.
The loan was approved under the Rapid Financing Instrument by the Executive Board of the IMF on April 28 to address challenges arising from the economic impact of COVID-19 in the country.
The IMF approved $3.4bn in emergency financial assistance under the Rapid Financing Instrument to support the authorities’ efforts in addressing the severe economic impact of the COVID-19 shock and the sharp fall in oil prices.
The current administration of Bola Tinubu is expected to pay off a $3.4bn owed to the International Monetary Fund during his tenure.
The IMF disbursed $3.4bn in emergency financial assistance to Nigeria.
The loan was approved under the Rapid Financing Instrument by the Executive Board of the IMF on April 28 to address challenges arising from the economic impact of COVID-19 in the country.
The IMF approved $3.4bn in emergency financial assistance under the Rapid Financing Instrument to support the authorities’ efforts in addressing the severe economic impact of the COVID-19 shock and the sharp fall in oil prices.
The current administration of Bola Tinubu is expected to pay off a $3.4bn owed to the International Monetary Fund during his tenure.
The IMF disbursed $3.4bn in emergency financial assistance to Nigeria.
The loan was approved under the Rapid Financing Instrument by the Executive Board of the IMF on April 28 to address challenges arising from the economic impact of COVID-19 in the country.
The IMF approved $3.4bn in emergency financial assistance under the Rapid Financing Instrument to support the authorities’ efforts in addressing the severe economic impact of the COVID-19 shock and the sharp fall in oil prices.
The current administration of Bola Tinubu is expected to pay off a $3.4bn owed to the International Monetary Fund during his tenure.
The IMF disbursed $3.4bn in emergency financial assistance to Nigeria.
The loan was approved under the Rapid Financing Instrument by the Executive Board of the IMF on April 28 to address challenges arising from the economic impact of COVID-19 in the country.
The IMF approved $3.4bn in emergency financial assistance under the Rapid Financing Instrument to support the authorities’ efforts in addressing the severe economic impact of the COVID-19 shock and the sharp fall in oil prices.
The current administration of Bola Tinubu is expected to pay off a $3.4bn owed to the International Monetary Fund during his tenure.
The IMF disbursed $3.4bn in emergency financial assistance to Nigeria.
The loan was approved under the Rapid Financing Instrument by the Executive Board of the IMF on April 28 to address challenges arising from the economic impact of COVID-19 in the country.
The IMF approved $3.4bn in emergency financial assistance under the Rapid Financing Instrument to support the authorities’ efforts in addressing the severe economic impact of the COVID-19 shock and the sharp fall in oil prices.
The current administration of Bola Tinubu is expected to pay off a $3.4bn owed to the International Monetary Fund during his tenure.
The IMF disbursed $3.4bn in emergency financial assistance to Nigeria.
The loan was approved under the Rapid Financing Instrument by the Executive Board of the IMF on April 28 to address challenges arising from the economic impact of COVID-19 in the country.
The IMF approved $3.4bn in emergency financial assistance under the Rapid Financing Instrument to support the authorities’ efforts in addressing the severe economic impact of the COVID-19 shock and the sharp fall in oil prices.
President Bola Ahmed Tinubu has pledged his administration’s unalloyed commitment to leveraging on the domestic utilization, processing and international export of Nigeria’s massive gas resources as a transition fuel to catalyze the fundamental restructuring of the nation’s economy for expansive growth during his tenure.
He says that President Tinubu affirmed all encumbrances to the entrepreneurial progress and development of Nigeria’s industrious citizens, as well as any further impediments to business practice in the Oil & Gas sector.
President Tinubu affirmed the position of natural gas as Nigeria’s gateway to sustainable development and prosperity, pledging to build a partnership with investors that will guarantee job opportunities and skill development for Nigerian youths in the overriding best interest of the oil and gas producing environments.
President Bola Ahmed Tinubu has pledged his administration’s unalloyed commitment to leveraging on the domestic utilization, processing and international export of Nigeria’s massive gas resources as a transition fuel to catalyze the fundamental restructuring of the nation’s economy for expansive growth during his tenure.
He says that President Tinubu affirmed all encumbrances to the entrepreneurial progress and development of Nigeria’s industrious citizens, as well as any further impediments to business practice in the Oil & Gas sector.
President Tinubu affirmed the position of natural gas as Nigeria’s gateway to sustainable development and prosperity, pledging to build a partnership with investors that will guarantee job opportunities and skill development for Nigerian youths in the overriding best interest of the oil and gas producing environments.
President Bola Ahmed Tinubu has pledged his administration’s unalloyed commitment to leveraging on the domestic utilization, processing and international export of Nigeria’s massive gas resources as a transition fuel to catalyze the fundamental restructuring of the nation’s economy for expansive growth during his tenure.
He says that President Tinubu affirmed all encumbrances to the entrepreneurial progress and development of Nigeria’s industrious citizens, as well as any further impediments to business practice in the Oil & Gas sector.
President Tinubu affirmed the position of natural gas as Nigeria’s gateway to sustainable development and prosperity, pledging to build a partnership with investors that will guarantee job opportunities and skill development for Nigerian youths in the overriding best interest of the oil and gas producing environments.
President Bola Ahmed Tinubu has pledged his administration’s unalloyed commitment to leveraging on the domestic utilization, processing and international export of Nigeria’s massive gas resources as a transition fuel to catalyze the fundamental restructuring of the nation’s economy for expansive growth during his tenure.
He says that President Tinubu affirmed all encumbrances to the entrepreneurial progress and development of Nigeria’s industrious citizens, as well as any further impediments to business practice in the Oil & Gas sector.
President Tinubu affirmed the position of natural gas as Nigeria’s gateway to sustainable development and prosperity, pledging to build a partnership with investors that will guarantee job opportunities and skill development for Nigerian youths in the overriding best interest of the oil and gas producing environments.
President Bola Ahmed Tinubu has pledged his administration’s unalloyed commitment to leveraging on the domestic utilization, processing and international export of Nigeria’s massive gas resources as a transition fuel to catalyze the fundamental restructuring of the nation’s economy for expansive growth during his tenure.
He says that President Tinubu affirmed all encumbrances to the entrepreneurial progress and development of Nigeria’s industrious citizens, as well as any further impediments to business practice in the Oil & Gas sector.
President Tinubu affirmed the position of natural gas as Nigeria’s gateway to sustainable development and prosperity, pledging to build a partnership with investors that will guarantee job opportunities and skill development for Nigerian youths in the overriding best interest of the oil and gas producing environments.
President Bola Ahmed Tinubu has pledged his administration’s unalloyed commitment to leveraging on the domestic utilization, processing and international export of Nigeria’s massive gas resources as a transition fuel to catalyze the fundamental restructuring of the nation’s economy for expansive growth during his tenure.
He says that President Tinubu affirmed all encumbrances to the entrepreneurial progress and development of Nigeria’s industrious citizens, as well as any further impediments to business practice in the Oil & Gas sector.
President Tinubu affirmed the position of natural gas as Nigeria’s gateway to sustainable development and prosperity, pledging to build a partnership with investors that will guarantee job opportunities and skill development for Nigerian youths in the overriding best interest of the oil and gas producing environments.
The Bank of Ireland customers experienced technical faults and they could withdraw large sums from cash machines despite having little or no funds in their accounts.
Pictures and videos shared on social media showed long queues at machines in the Republic of Ireland.
It warned transfers and withdrawals would still be applied to customers’ accounts.
A spokesperson says that the bank's app and 365 Online banking services were now working again.
The Bank of Ireland customers experienced technical faults and they could withdraw large sums from cash machines despite having little or no funds in their accounts.
Pictures and videos shared on social media showed long queues at machines in the Republic of Ireland.
It warned transfers and withdrawals would still be applied to customers’ accounts.
A spokesperson says that the bank's app and 365 Online banking services were now working again.
The Bank of Ireland customers experienced technical faults and they could withdraw large sums from cash machines despite having little or no funds in their accounts.
Pictures and videos shared on social media showed long queues at machines in the Republic of Ireland.
It warned transfers and withdrawals would still be applied to customers’ accounts.
A spokesperson says that the bank's app and 365 Online banking services were now working again.
The Bank of Ireland customers experienced technical faults and they could withdraw large sums from cash machines despite having little or no funds in their accounts.
Pictures and videos shared on social media showed long queues at machines in the Republic of Ireland.
It warned transfers and withdrawals would still be applied to customers’ accounts.
A spokesperson says that the bank's app and 365 Online banking services were now working again.
The Bank of Ireland customers experienced technical faults and they could withdraw large sums from cash machines despite having little or no funds in their accounts.
Pictures and videos shared on social media showed long queues at machines in the Republic of Ireland.
It warned transfers and withdrawals would still be applied to customers’ accounts.
A spokesperson says that the bank's app and 365 Online banking services were now working again.
The Bank of Ireland customers experienced technical faults and they could withdraw large sums from cash machines despite having little or no funds in their accounts.
Pictures and videos shared on social media showed long queues at machines in the Republic of Ireland.
It warned transfers and withdrawals would still be applied to customers’ accounts.
A spokesperson says that the bank's app and 365 Online banking services were now working again.
International aid agencies have warned that four months into the conflict in Sudan, the situation is spiralling out of control, with mass displacement and millions on the verge of famine.
The heads of 20 global organizations said 14 million children (about twice the population of Arizona) needed humanitarian aid and more than four million people had fled their homes.
They called on the warring parties to end the fighting and ensure safe access for the delivery of aid.
The region of Darfur and the capital, Khartoum, have been plagued by clashes between the Sudanese army and the paramilitary Rapid Support Forces.
International aid agencies have warned that four months into the conflict in Sudan, the situation is spiralling out of control, with mass displacement and millions on the verge of famine.
The heads of 20 global organizations said 14 million children (about twice the population of Arizona) needed humanitarian aid and more than four million people had fled their homes.
They called on the warring parties to end the fighting and ensure safe access for the delivery of aid.
The region of Darfur and the capital, Khartoum, have been plagued by clashes between the Sudanese army and the paramilitary Rapid Support Forces.
International aid agencies have warned that four months into the conflict in Sudan, the situation is spiralling out of control, with mass displacement and millions on the verge of famine.
The heads of 20 global organizations said 14 million children (about twice the population of Arizona) needed humanitarian aid and more than four million people had fled their homes.
They called on the warring parties to end the fighting and ensure safe access for the delivery of aid.
The region of Darfur and the capital, Khartoum, have been plagued by clashes between the Sudanese army and the paramilitary Rapid Support Forces.
International aid agencies have warned that four months into the conflict in Sudan, the situation is spiralling out of control, with mass displacement and millions on the verge of famine.
The heads of 20 global organizations said 14 million children (about twice the population of Arizona) needed humanitarian aid and more than four million people had fled their homes.
They called on the warring parties to end the fighting and ensure safe access for the delivery of aid.
The region of Darfur and the capital, Khartoum, have been plagued by clashes between the Sudanese army and the paramilitary Rapid Support Forces.
International aid agencies have warned that four months into the conflict in Sudan, the situation is spiralling out of control, with mass displacement and millions on the verge of famine.
The heads of 20 global organizations said 14 million children (about twice the population of Arizona) needed humanitarian aid and more than four million people had fled their homes.
They called on the warring parties to end the fighting and ensure safe access for the delivery of aid.
The region of Darfur and the capital, Khartoum, have been plagued by clashes between the Sudanese army and the paramilitary Rapid Support Forces.
International aid agencies have warned that four months into the conflict in Sudan, the situation is spiralling out of control, with mass displacement and millions on the verge of famine.
The heads of 20 global organizations said 14 million children (about twice the population of Arizona) needed humanitarian aid and more than four million people had fled their homes.
They called on the warring parties to end the fighting and ensure safe access for the delivery of aid.
The region of Darfur and the capital, Khartoum, have been plagued by clashes between the Sudanese army and the paramilitary Rapid Support Forces.
Niger’s military-appointed prime minister made an unannounced visit to neighbouring Chad as West African states set talks for mulling possible military intervention to reverse his country’s coup and the United States and Russia urged a diplomatic solution to the crisis.
Ali Mahaman Lamine Zeine, says he had brought a message of good neighbourliness and good fraternity from the head of Niger’s regime.
He says they are in a process of transition while discussing the ins and outs and reiterated their availability to remain open and talk with all parties, but insist on our country’s independence.
Niger’s military-appointed prime minister made an unannounced visit to neighbouring Chad as West African states set talks for mulling possible military intervention to reverse his country’s coup and the United States and Russia urged a diplomatic solution to the crisis.
Ali Mahaman Lamine Zeine, says he had brought a message of good neighbourliness and good fraternity from the head of Niger’s regime.
He says they are in a process of transition while discussing the ins and outs and reiterated their availability to remain open and talk with all parties, but insist on our country’s independence.
Niger’s military-appointed prime minister made an unannounced visit to neighbouring Chad as West African states set talks for mulling possible military intervention to reverse his country’s coup and the United States and Russia urged a diplomatic solution to the crisis.
Ali Mahaman Lamine Zeine, says he had brought a message of good neighbourliness and good fraternity from the head of Niger’s regime.
He says they are in a process of transition while discussing the ins and outs and reiterated their availability to remain open and talk with all parties, but insist on our country’s independence.
Niger’s military-appointed prime minister made an unannounced visit to neighbouring Chad as West African states set talks for mulling possible military intervention to reverse his country’s coup and the United States and Russia urged a diplomatic solution to the crisis.
Ali Mahaman Lamine Zeine, says he had brought a message of good neighbourliness and good fraternity from the head of Niger’s regime.
He says they are in a process of transition while discussing the ins and outs and reiterated their availability to remain open and talk with all parties, but insist on our country’s independence.
Niger’s military-appointed prime minister made an unannounced visit to neighbouring Chad as West African states set talks for mulling possible military intervention to reverse his country’s coup and the United States and Russia urged a diplomatic solution to the crisis.
Ali Mahaman Lamine Zeine, says he had brought a message of good neighbourliness and good fraternity from the head of Niger’s regime.
He says they are in a process of transition while discussing the ins and outs and reiterated their availability to remain open and talk with all parties, but insist on our country’s independence.
Niger’s military-appointed prime minister made an unannounced visit to neighbouring Chad as West African states set talks for mulling possible military intervention to reverse his country’s coup and the United States and Russia urged a diplomatic solution to the crisis.
Ali Mahaman Lamine Zeine, says he had brought a message of good neighbourliness and good fraternity from the head of Niger’s regime.
He says they are in a process of transition while discussing the ins and outs and reiterated their availability to remain open and talk with all parties, but insist on our country’s independence.
Google has announced plans to train 20,000 Nigerian women and young people in digital skills to support government targets of creating one million tech jobs.
The US firm says it would also donate $1.6m. It follows talks between Google's director for West Africa, Olumide Balogun, and Nigeria's Vice-President, Kashim Shettima, in Abuja.
Mr Shettima says President Bola Tinubu's administration was determined to harness the potential of Nigeria's young population to grow the digital sector.
Google has announced plans to train 20,000 Nigerian women and young people in digital skills to support government targets of creating one million tech jobs.
The US firm says it would also donate $1.6m. It follows talks between Google's director for West Africa, Olumide Balogun, and Nigeria's Vice-President, Kashim Shettima, in Abuja.
Mr Shettima says President Bola Tinubu's administration was determined to harness the potential of Nigeria's young population to grow the digital sector.
Google has announced plans to train 20,000 Nigerian women and young people in digital skills to support government targets of creating one million tech jobs.
The US firm says it would also donate $1.6m. It follows talks between Google's director for West Africa, Olumide Balogun, and Nigeria's Vice-President, Kashim Shettima, in Abuja.
Mr Shettima says President Bola Tinubu's administration was determined to harness the potential of Nigeria's young population to grow the digital sector.
Google has announced plans to train 20,000 Nigerian women and young people in digital skills to support government targets of creating one million tech jobs.
The US firm says it would also donate $1.6m. It follows talks between Google's director for West Africa, Olumide Balogun, and Nigeria's Vice-President, Kashim Shettima, in Abuja.
Mr Shettima says President Bola Tinubu's administration was determined to harness the potential of Nigeria's young population to grow the digital sector.
Google has announced plans to train 20,000 Nigerian women and young people in digital skills to support government targets of creating one million tech jobs.
The US firm says it would also donate $1.6m. It follows talks between Google's director for West Africa, Olumide Balogun, and Nigeria's Vice-President, Kashim Shettima, in Abuja.
Mr Shettima says President Bola Tinubu's administration was determined to harness the potential of Nigeria's young population to grow the digital sector.
Google has announced plans to train 20,000 Nigerian women and young people in digital skills to support government targets of creating one million tech jobs.
The US firm says it would also donate $1.6m. It follows talks between Google's director for West Africa, Olumide Balogun, and Nigeria's Vice-President, Kashim Shettima, in Abuja.
Mr Shettima says President Bola Tinubu's administration was determined to harness the potential of Nigeria's young population to grow the digital sector.
The Kano State Government has mandated the suspension of school fees increase for all private schools operating in the state.
The schools are also expected to renew their operating licenses in line with Governor Abba Yusuf’s policy on quality education in the state.
The Kano State Government on Private Schools, Baba Umar, noted that the suspension of increment of school fees for private schools is to ensure that there are no exploitations.
The Kano State Government has mandated the suspension of school fees increase for all private schools operating in the state.
The schools are also expected to renew their operating licenses in line with Governor Abba Yusuf’s policy on quality education in the state.
The Kano State Government on Private Schools, Baba Umar, noted that the suspension of increment of school fees for private schools is to ensure that there are no exploitations.
The Kano State Government has mandated the suspension of school fees increase for all private schools operating in the state.
The schools are also expected to renew their operating licenses in line with Governor Abba Yusuf’s policy on quality education in the state.
The Kano State Government on Private Schools, Baba Umar, noted that the suspension of increment of school fees for private schools is to ensure that there are no exploitations.
The Kano State Government has mandated the suspension of school fees increase for all private schools operating in the state.
The schools are also expected to renew their operating licenses in line with Governor Abba Yusuf’s policy on quality education in the state.
The Kano State Government on Private Schools, Baba Umar, noted that the suspension of increment of school fees for private schools is to ensure that there are no exploitations.
The Kano State Government has mandated the suspension of school fees increase for all private schools operating in the state.
The schools are also expected to renew their operating licenses in line with Governor Abba Yusuf’s policy on quality education in the state.
The Kano State Government on Private Schools, Baba Umar, noted that the suspension of increment of school fees for private schools is to ensure that there are no exploitations.
The Kano State Government has mandated the suspension of school fees increase for all private schools operating in the state.
The schools are also expected to renew their operating licenses in line with Governor Abba Yusuf’s policy on quality education in the state.
The Kano State Government on Private Schools, Baba Umar, noted that the suspension of increment of school fees for private schools is to ensure that there are no exploitations.
The Federal government, through the Ministry of Aviation and Aerospace, has promised its commitment to support Nigerian airlines.
The ministry’s Head Press, Public Relations, Oluseyi Odutayo, disclosed that the Federal Government continued to initiate and implement policies that ensured Nigeria’s airlines benefit from the Bilateral Air Services Agreement signed by Nigeria with other countries.
He added that the journey would further strengthen the relationship of both countries in the areas of commerce, trade, and tourism while acknowledging the Federal Government of Nigeria and the Antiguan/Barbudan authorities for approving the designation of Air Peace by the Nigerian Aeronautical Authorities to fly the Nigerian Antiguan route.
The Prime Minister of Antigua and Barbuda, Gatson Browne in his remarks said it was a new dawn for the relationship between Nigeria and Antigua.
He emphasised the ancestral linkage between the Caribbean nations and Africa, which he referred to as the Motherland.
The Federal government, through the Ministry of Aviation and Aerospace, has promised its commitment to support Nigerian airlines.
The ministry’s Head Press, Public Relations, Oluseyi Odutayo, disclosed that the Federal Government continued to initiate and implement policies that ensured Nigeria’s airlines benefit from the Bilateral Air Services Agreement signed by Nigeria with other countries.
He added that the journey would further strengthen the relationship of both countries in the areas of commerce, trade, and tourism while acknowledging the Federal Government of Nigeria and the Antiguan/Barbudan authorities for approving the designation of Air Peace by the Nigerian Aeronautical Authorities to fly the Nigerian Antiguan route.
The Prime Minister of Antigua and Barbuda, Gatson Browne in his remarks said it was a new dawn for the relationship between Nigeria and Antigua.
He emphasised the ancestral linkage between the Caribbean nations and Africa, which he referred to as the Motherland.
The Federal government, through the Ministry of Aviation and Aerospace, has promised its commitment to support Nigerian airlines.
The ministry’s Head Press, Public Relations, Oluseyi Odutayo, disclosed that the Federal Government continued to initiate and implement policies that ensured Nigeria’s airlines benefit from the Bilateral Air Services Agreement signed by Nigeria with other countries.
He added that the journey would further strengthen the relationship of both countries in the areas of commerce, trade, and tourism while acknowledging the Federal Government of Nigeria and the Antiguan/Barbudan authorities for approving the designation of Air Peace by the Nigerian Aeronautical Authorities to fly the Nigerian Antiguan route.
The Prime Minister of Antigua and Barbuda, Gatson Browne in his remarks said it was a new dawn for the relationship between Nigeria and Antigua.
He emphasised the ancestral linkage between the Caribbean nations and Africa, which he referred to as the Motherland.
The Federal government, through the Ministry of Aviation and Aerospace, has promised its commitment to support Nigerian airlines.
The ministry’s Head Press, Public Relations, Oluseyi Odutayo, disclosed that the Federal Government continued to initiate and implement policies that ensured Nigeria’s airlines benefit from the Bilateral Air Services Agreement signed by Nigeria with other countries.
He added that the journey would further strengthen the relationship of both countries in the areas of commerce, trade, and tourism while acknowledging the Federal Government of Nigeria and the Antiguan/Barbudan authorities for approving the designation of Air Peace by the Nigerian Aeronautical Authorities to fly the Nigerian Antiguan route.
The Prime Minister of Antigua and Barbuda, Gatson Browne in his remarks said it was a new dawn for the relationship between Nigeria and Antigua.
He emphasised the ancestral linkage between the Caribbean nations and Africa, which he referred to as the Motherland.
The Federal government, through the Ministry of Aviation and Aerospace, has promised its commitment to support Nigerian airlines.
The ministry’s Head Press, Public Relations, Oluseyi Odutayo, disclosed that the Federal Government continued to initiate and implement policies that ensured Nigeria’s airlines benefit from the Bilateral Air Services Agreement signed by Nigeria with other countries.
He added that the journey would further strengthen the relationship of both countries in the areas of commerce, trade, and tourism while acknowledging the Federal Government of Nigeria and the Antiguan/Barbudan authorities for approving the designation of Air Peace by the Nigerian Aeronautical Authorities to fly the Nigerian Antiguan route.
The Prime Minister of Antigua and Barbuda, Gatson Browne in his remarks said it was a new dawn for the relationship between Nigeria and Antigua.
He emphasised the ancestral linkage between the Caribbean nations and Africa, which he referred to as the Motherland.
The Federal government, through the Ministry of Aviation and Aerospace, has promised its commitment to support Nigerian airlines.
The ministry’s Head Press, Public Relations, Oluseyi Odutayo, disclosed that the Federal Government continued to initiate and implement policies that ensured Nigeria’s airlines benefit from the Bilateral Air Services Agreement signed by Nigeria with other countries.
He added that the journey would further strengthen the relationship of both countries in the areas of commerce, trade, and tourism while acknowledging the Federal Government of Nigeria and the Antiguan/Barbudan authorities for approving the designation of Air Peace by the Nigerian Aeronautical Authorities to fly the Nigerian Antiguan route.
The Prime Minister of Antigua and Barbuda, Gatson Browne in his remarks said it was a new dawn for the relationship between Nigeria and Antigua.
He emphasised the ancestral linkage between the Caribbean nations and Africa, which he referred to as the Motherland.
The Federal Government may sell stakes in about 20 state-run companies to raise funds and improve governance in the entities.
The chief executive officer at the Ministry of Finance Incorporated, Armstrong Takang says the Nigerian National Petroleum Corporation is among the firms the government may sell a stake in.
He stated that the agency is considering options including strategic sales and initial public offerings and aims to implement the plan within 18 months.
He noted that some of the entities need the private sector to take controlling shares and the major consideration for the government is to create value rather than retain control.
The Federal Government may sell stakes in about 20 state-run companies to raise funds and improve governance in the entities.
The chief executive officer at the Ministry of Finance Incorporated, Armstrong Takang says the Nigerian National Petroleum Corporation is among the firms the government may sell a stake in.
He stated that the agency is considering options including strategic sales and initial public offerings and aims to implement the plan within 18 months.
He noted that some of the entities need the private sector to take controlling shares and the major consideration for the government is to create value rather than retain control.
The Federal Government may sell stakes in about 20 state-run companies to raise funds and improve governance in the entities.
The chief executive officer at the Ministry of Finance Incorporated, Armstrong Takang says the Nigerian National Petroleum Corporation is among the firms the government may sell a stake in.
He stated that the agency is considering options including strategic sales and initial public offerings and aims to implement the plan within 18 months.
He noted that some of the entities need the private sector to take controlling shares and the major consideration for the government is to create value rather than retain control.
The Federal Government may sell stakes in about 20 state-run companies to raise funds and improve governance in the entities.
The chief executive officer at the Ministry of Finance Incorporated, Armstrong Takang says the Nigerian National Petroleum Corporation is among the firms the government may sell a stake in.
He stated that the agency is considering options including strategic sales and initial public offerings and aims to implement the plan within 18 months.
He noted that some of the entities need the private sector to take controlling shares and the major consideration for the government is to create value rather than retain control.
The Federal Government may sell stakes in about 20 state-run companies to raise funds and improve governance in the entities.
The chief executive officer at the Ministry of Finance Incorporated, Armstrong Takang says the Nigerian National Petroleum Corporation is among the firms the government may sell a stake in.
He stated that the agency is considering options including strategic sales and initial public offerings and aims to implement the plan within 18 months.
He noted that some of the entities need the private sector to take controlling shares and the major consideration for the government is to create value rather than retain control.
The Federal Government may sell stakes in about 20 state-run companies to raise funds and improve governance in the entities.
The chief executive officer at the Ministry of Finance Incorporated, Armstrong Takang says the Nigerian National Petroleum Corporation is among the firms the government may sell a stake in.
He stated that the agency is considering options including strategic sales and initial public offerings and aims to implement the plan within 18 months.
He noted that some of the entities need the private sector to take controlling shares and the major consideration for the government is to create value rather than retain control.
A Peoples Democratic Party chieftain and ex-Aviation Minister, Osita Chidoka, says the Nigerian Constitution and other electoral laws should be amended to make any presidential candidate who doesn’t have over 50% of total votes cast in an election unfit for office.
The ex-minister suggested runoffs for presidential polls where no candidate scores over 50% of the total votes cast.
Chidoka says the votes got by President Bola Tinubu, then-presidential candidate of the All Progressives Congress, put him in a serious minority that makes it difficult for him to push big agenda like petrol subsidy removal and the unification of the foreign exchange windows.
A Peoples Democratic Party chieftain and ex-Aviation Minister, Osita Chidoka, says the Nigerian Constitution and other electoral laws should be amended to make any presidential candidate who doesn’t have over 50% of total votes cast in an election unfit for office.
The ex-minister suggested runoffs for presidential polls where no candidate scores over 50% of the total votes cast.
Chidoka says the votes got by President Bola Tinubu, then-presidential candidate of the All Progressives Congress, put him in a serious minority that makes it difficult for him to push big agenda like petrol subsidy removal and the unification of the foreign exchange windows.
A Peoples Democratic Party chieftain and ex-Aviation Minister, Osita Chidoka, says the Nigerian Constitution and other electoral laws should be amended to make any presidential candidate who doesn’t have over 50% of total votes cast in an election unfit for office.
The ex-minister suggested runoffs for presidential polls where no candidate scores over 50% of the total votes cast.
Chidoka says the votes got by President Bola Tinubu, then-presidential candidate of the All Progressives Congress, put him in a serious minority that makes it difficult for him to push big agenda like petrol subsidy removal and the unification of the foreign exchange windows.
A Peoples Democratic Party chieftain and ex-Aviation Minister, Osita Chidoka, says the Nigerian Constitution and other electoral laws should be amended to make any presidential candidate who doesn’t have over 50% of total votes cast in an election unfit for office.
The ex-minister suggested runoffs for presidential polls where no candidate scores over 50% of the total votes cast.
Chidoka says the votes got by President Bola Tinubu, then-presidential candidate of the All Progressives Congress, put him in a serious minority that makes it difficult for him to push big agenda like petrol subsidy removal and the unification of the foreign exchange windows.
A Peoples Democratic Party chieftain and ex-Aviation Minister, Osita Chidoka, says the Nigerian Constitution and other electoral laws should be amended to make any presidential candidate who doesn’t have over 50% of total votes cast in an election unfit for office.
The ex-minister suggested runoffs for presidential polls where no candidate scores over 50% of the total votes cast.
Chidoka says the votes got by President Bola Tinubu, then-presidential candidate of the All Progressives Congress, put him in a serious minority that makes it difficult for him to push big agenda like petrol subsidy removal and the unification of the foreign exchange windows.
A Peoples Democratic Party chieftain and ex-Aviation Minister, Osita Chidoka, says the Nigerian Constitution and other electoral laws should be amended to make any presidential candidate who doesn’t have over 50% of total votes cast in an election unfit for office.
The ex-minister suggested runoffs for presidential polls where no candidate scores over 50% of the total votes cast.
Chidoka says the votes got by President Bola Tinubu, then-presidential candidate of the All Progressives Congress, put him in a serious minority that makes it difficult for him to push big agenda like petrol subsidy removal and the unification of the foreign exchange windows.
China has pledged to take resolute and forceful measures to protect its sovereignty after Taiwanese Vice President William Lai arrived in the United States on a brief visit.
Lai, the frontrunner to be Taiwan’s next president at elections in January, is on his way to Paraguay to attend President-elect Santiago Pena’s inauguration and is scheduled to make a second stop in the US city of San Francisco on his way back to Taipei.
China, which claims democratically governed Taiwan as its own territory, has repeatedly denounced Lai’s trip.
China’s foreign ministry says it opposed any form of a visit by Taiwan independence separatists to the US.
China has pledged to take resolute and forceful measures to protect its sovereignty after Taiwanese Vice President William Lai arrived in the United States on a brief visit.
Lai, the frontrunner to be Taiwan’s next president at elections in January, is on his way to Paraguay to attend President-elect Santiago Pena’s inauguration and is scheduled to make a second stop in the US city of San Francisco on his way back to Taipei.
China, which claims democratically governed Taiwan as its own territory, has repeatedly denounced Lai’s trip.
China’s foreign ministry says it opposed any form of a visit by Taiwan independence separatists to the US.
China has pledged to take resolute and forceful measures to protect its sovereignty after Taiwanese Vice President William Lai arrived in the United States on a brief visit.
Lai, the frontrunner to be Taiwan’s next president at elections in January, is on his way to Paraguay to attend President-elect Santiago Pena’s inauguration and is scheduled to make a second stop in the US city of San Francisco on his way back to Taipei.
China, which claims democratically governed Taiwan as its own territory, has repeatedly denounced Lai’s trip.
China’s foreign ministry says it opposed any form of a visit by Taiwan independence separatists to the US.
China has pledged to take resolute and forceful measures to protect its sovereignty after Taiwanese Vice President William Lai arrived in the United States on a brief visit.
Lai, the frontrunner to be Taiwan’s next president at elections in January, is on his way to Paraguay to attend President-elect Santiago Pena’s inauguration and is scheduled to make a second stop in the US city of San Francisco on his way back to Taipei.
China, which claims democratically governed Taiwan as its own territory, has repeatedly denounced Lai’s trip.
China’s foreign ministry says it opposed any form of a visit by Taiwan independence separatists to the US.
China has pledged to take resolute and forceful measures to protect its sovereignty after Taiwanese Vice President William Lai arrived in the United States on a brief visit.
Lai, the frontrunner to be Taiwan’s next president at elections in January, is on his way to Paraguay to attend President-elect Santiago Pena’s inauguration and is scheduled to make a second stop in the US city of San Francisco on his way back to Taipei.
China, which claims democratically governed Taiwan as its own territory, has repeatedly denounced Lai’s trip.
China’s foreign ministry says it opposed any form of a visit by Taiwan independence separatists to the US.
China has pledged to take resolute and forceful measures to protect its sovereignty after Taiwanese Vice President William Lai arrived in the United States on a brief visit.
Lai, the frontrunner to be Taiwan’s next president at elections in January, is on his way to Paraguay to attend President-elect Santiago Pena’s inauguration and is scheduled to make a second stop in the US city of San Francisco on his way back to Taipei.
China, which claims democratically governed Taiwan as its own territory, has repeatedly denounced Lai’s trip.
China’s foreign ministry says it opposed any form of a visit by Taiwan independence separatists to the US.
North Korean leader Kim Jong Un has inspected key munitions factories, including a tactical missile production plant, and ordered a drastic boost in the manufacturing of missiles, rocket-launcher shells and other weapons, according to state media.
The inspections are the latest in a string of visits by Kim to defence facilities, where he has emphasized the mass production of weapons.
It comes as South Korea and the United States prepare for annual military drills that North Korea views as an invasion rehearsal. It also comes as officials in the US said they believe Russia is seeking North Korean weapons for its war with Ukraine.
The official Korean Central News Agency says Kim visited factories producing tactical missiles, mobile launch platforms, armoured vehicles and artillery shells.
North Korean leader Kim Jong Un has inspected key munitions factories, including a tactical missile production plant, and ordered a drastic boost in the manufacturing of missiles, rocket-launcher shells and other weapons, according to state media.
The inspections are the latest in a string of visits by Kim to defence facilities, where he has emphasized the mass production of weapons.
It comes as South Korea and the United States prepare for annual military drills that North Korea views as an invasion rehearsal. It also comes as officials in the US said they believe Russia is seeking North Korean weapons for its war with Ukraine.
The official Korean Central News Agency says Kim visited factories producing tactical missiles, mobile launch platforms, armoured vehicles and artillery shells.
North Korean leader Kim Jong Un has inspected key munitions factories, including a tactical missile production plant, and ordered a drastic boost in the manufacturing of missiles, rocket-launcher shells and other weapons, according to state media.
The inspections are the latest in a string of visits by Kim to defence facilities, where he has emphasized the mass production of weapons.
It comes as South Korea and the United States prepare for annual military drills that North Korea views as an invasion rehearsal. It also comes as officials in the US said they believe Russia is seeking North Korean weapons for its war with Ukraine.
The official Korean Central News Agency says Kim visited factories producing tactical missiles, mobile launch platforms, armoured vehicles and artillery shells.
North Korean leader Kim Jong Un has inspected key munitions factories, including a tactical missile production plant, and ordered a drastic boost in the manufacturing of missiles, rocket-launcher shells and other weapons, according to state media.
The inspections are the latest in a string of visits by Kim to defence facilities, where he has emphasized the mass production of weapons.
It comes as South Korea and the United States prepare for annual military drills that North Korea views as an invasion rehearsal. It also comes as officials in the US said they believe Russia is seeking North Korean weapons for its war with Ukraine.
The official Korean Central News Agency says Kim visited factories producing tactical missiles, mobile launch platforms, armoured vehicles and artillery shells.
North Korean leader Kim Jong Un has inspected key munitions factories, including a tactical missile production plant, and ordered a drastic boost in the manufacturing of missiles, rocket-launcher shells and other weapons, according to state media.
The inspections are the latest in a string of visits by Kim to defence facilities, where he has emphasized the mass production of weapons.
It comes as South Korea and the United States prepare for annual military drills that North Korea views as an invasion rehearsal. It also comes as officials in the US said they believe Russia is seeking North Korean weapons for its war with Ukraine.
The official Korean Central News Agency says Kim visited factories producing tactical missiles, mobile launch platforms, armoured vehicles and artillery shells.
North Korean leader Kim Jong Un has inspected key munitions factories, including a tactical missile production plant, and ordered a drastic boost in the manufacturing of missiles, rocket-launcher shells and other weapons, according to state media.
The inspections are the latest in a string of visits by Kim to defence facilities, where he has emphasized the mass production of weapons.
It comes as South Korea and the United States prepare for annual military drills that North Korea views as an invasion rehearsal. It also comes as officials in the US said they believe Russia is seeking North Korean weapons for its war with Ukraine.
The official Korean Central News Agency says Kim visited factories producing tactical missiles, mobile launch platforms, armoured vehicles and artillery shells.
Niger's military leaders have announced plans to prosecute the deposed President Mohamed Bazoum, for alleged high treason and undermining the security of the country after toppling his democratically elected government in last month's coup.
The army spokesman Colonel-Major Amadou Abdramane says they had been gathering evidence against the deposed leader and what they claimed were his local and foreign accomplices.
The head of a religious delegation of mediators said the head of the junta, Gen Abdourahamane Tchiani, was ready to consider a diplomatic solution with Ecowas.
Sheikh Abdullahi Bala Lau, the leader of Nigeria’s Izala Salafist Movement, says Gen Tchiani had said their doors were open to explore diplomacy and peace in resolving the matter.
Niger's military leaders have announced plans to prosecute the deposed President Mohamed Bazoum, for alleged high treason and undermining the security of the country after toppling his democratically elected government in last month's coup.
The army spokesman Colonel-Major Amadou Abdramane says they had been gathering evidence against the deposed leader and what they claimed were his local and foreign accomplices.
The head of a religious delegation of mediators said the head of the junta, Gen Abdourahamane Tchiani, was ready to consider a diplomatic solution with Ecowas.
Sheikh Abdullahi Bala Lau, the leader of Nigeria’s Izala Salafist Movement, says Gen Tchiani had said their doors were open to explore diplomacy and peace in resolving the matter.
Niger's military leaders have announced plans to prosecute the deposed President Mohamed Bazoum, for alleged high treason and undermining the security of the country after toppling his democratically elected government in last month's coup.
The army spokesman Colonel-Major Amadou Abdramane says they had been gathering evidence against the deposed leader and what they claimed were his local and foreign accomplices.
The head of a religious delegation of mediators said the head of the junta, Gen Abdourahamane Tchiani, was ready to consider a diplomatic solution with Ecowas.
Sheikh Abdullahi Bala Lau, the leader of Nigeria’s Izala Salafist Movement, says Gen Tchiani had said their doors were open to explore diplomacy and peace in resolving the matter.
Niger's military leaders have announced plans to prosecute the deposed President Mohamed Bazoum, for alleged high treason and undermining the security of the country after toppling his democratically elected government in last month's coup.
The army spokesman Colonel-Major Amadou Abdramane says they had been gathering evidence against the deposed leader and what they claimed were his local and foreign accomplices.
The head of a religious delegation of mediators said the head of the junta, Gen Abdourahamane Tchiani, was ready to consider a diplomatic solution with Ecowas.
Sheikh Abdullahi Bala Lau, the leader of Nigeria’s Izala Salafist Movement, says Gen Tchiani had said their doors were open to explore diplomacy and peace in resolving the matter.
Niger's military leaders have announced plans to prosecute the deposed President Mohamed Bazoum, for alleged high treason and undermining the security of the country after toppling his democratically elected government in last month's coup.
The army spokesman Colonel-Major Amadou Abdramane says they had been gathering evidence against the deposed leader and what they claimed were his local and foreign accomplices.
The head of a religious delegation of mediators said the head of the junta, Gen Abdourahamane Tchiani, was ready to consider a diplomatic solution with Ecowas.
Sheikh Abdullahi Bala Lau, the leader of Nigeria’s Izala Salafist Movement, says Gen Tchiani had said their doors were open to explore diplomacy and peace in resolving the matter.
Niger's military leaders have announced plans to prosecute the deposed President Mohamed Bazoum, for alleged high treason and undermining the security of the country after toppling his democratically elected government in last month's coup.
The army spokesman Colonel-Major Amadou Abdramane says they had been gathering evidence against the deposed leader and what they claimed were his local and foreign accomplices.
The head of a religious delegation of mediators said the head of the junta, Gen Abdourahamane Tchiani, was ready to consider a diplomatic solution with Ecowas.
Sheikh Abdullahi Bala Lau, the leader of Nigeria’s Izala Salafist Movement, says Gen Tchiani had said their doors were open to explore diplomacy and peace in resolving the matter.
The approval of South Sudan's 2023-2024 national budget has come to a halt after opposition MPs walked out of the session in the capital, Juba, over a proposed salary increase for civil servants.
MPs from the main opposition political party, the Sudan People’s Liberation Movement in Opposition of First Vice President, Riek Machar, want a 600% salary increment for civil servants in order to meet the high cost of living.
The Minister of Finance and Planning, Bak Barnaba Chol, insisted that the MPs should pass the budget with a proposed 400% increment.
Edmund Yakani, Executive Director of CEPO, says failure to pass the national budget will have negative implications on the political transition process the country is undergoing.
The approval of South Sudan's 2023-2024 national budget has come to a halt after opposition MPs walked out of the session in the capital, Juba, over a proposed salary increase for civil servants.
MPs from the main opposition political party, the Sudan People’s Liberation Movement in Opposition of First Vice President, Riek Machar, want a 600% salary increment for civil servants in order to meet the high cost of living.
The Minister of Finance and Planning, Bak Barnaba Chol, insisted that the MPs should pass the budget with a proposed 400% increment.
Edmund Yakani, Executive Director of CEPO, says failure to pass the national budget will have negative implications on the political transition process the country is undergoing.
The approval of South Sudan's 2023-2024 national budget has come to a halt after opposition MPs walked out of the session in the capital, Juba, over a proposed salary increase for civil servants.
MPs from the main opposition political party, the Sudan People’s Liberation Movement in Opposition of First Vice President, Riek Machar, want a 600% salary increment for civil servants in order to meet the high cost of living.
The Minister of Finance and Planning, Bak Barnaba Chol, insisted that the MPs should pass the budget with a proposed 400% increment.
Edmund Yakani, Executive Director of CEPO, says failure to pass the national budget will have negative implications on the political transition process the country is undergoing.
The approval of South Sudan's 2023-2024 national budget has come to a halt after opposition MPs walked out of the session in the capital, Juba, over a proposed salary increase for civil servants.
MPs from the main opposition political party, the Sudan People’s Liberation Movement in Opposition of First Vice President, Riek Machar, want a 600% salary increment for civil servants in order to meet the high cost of living.
The Minister of Finance and Planning, Bak Barnaba Chol, insisted that the MPs should pass the budget with a proposed 400% increment.
Edmund Yakani, Executive Director of CEPO, says failure to pass the national budget will have negative implications on the political transition process the country is undergoing.
The approval of South Sudan's 2023-2024 national budget has come to a halt after opposition MPs walked out of the session in the capital, Juba, over a proposed salary increase for civil servants.
MPs from the main opposition political party, the Sudan People’s Liberation Movement in Opposition of First Vice President, Riek Machar, want a 600% salary increment for civil servants in order to meet the high cost of living.
The Minister of Finance and Planning, Bak Barnaba Chol, insisted that the MPs should pass the budget with a proposed 400% increment.
Edmund Yakani, Executive Director of CEPO, says failure to pass the national budget will have negative implications on the political transition process the country is undergoing.
The approval of South Sudan's 2023-2024 national budget has come to a halt after opposition MPs walked out of the session in the capital, Juba, over a proposed salary increase for civil servants.
MPs from the main opposition political party, the Sudan People’s Liberation Movement in Opposition of First Vice President, Riek Machar, want a 600% salary increment for civil servants in order to meet the high cost of living.
The Minister of Finance and Planning, Bak Barnaba Chol, insisted that the MPs should pass the budget with a proposed 400% increment.
Edmund Yakani, Executive Director of CEPO, says failure to pass the national budget will have negative implications on the political transition process the country is undergoing.
The EU is planning to send a group of observers to Liberia before a general election in October
Josep Borrell, the EU head of foreign policy says the deployment of this election observation mission confirms our long-standing commitment to supporting competitive, transparent and peaceful elections in Liberia, the oldest democracy in Africa.
He says the European Union is a close partner of Liberia and is committed to continuing its support of democratic governance.
The EU is planning to send a group of observers to Liberia before a general election in October
Josep Borrell, the EU head of foreign policy says the deployment of this election observation mission confirms our long-standing commitment to supporting competitive, transparent and peaceful elections in Liberia, the oldest democracy in Africa.
He says the European Union is a close partner of Liberia and is committed to continuing its support of democratic governance.
The EU is planning to send a group of observers to Liberia before a general election in October
Josep Borrell, the EU head of foreign policy says the deployment of this election observation mission confirms our long-standing commitment to supporting competitive, transparent and peaceful elections in Liberia, the oldest democracy in Africa.
He says the European Union is a close partner of Liberia and is committed to continuing its support of democratic governance.
The EU is planning to send a group of observers to Liberia before a general election in October
Josep Borrell, the EU head of foreign policy says the deployment of this election observation mission confirms our long-standing commitment to supporting competitive, transparent and peaceful elections in Liberia, the oldest democracy in Africa.
He says the European Union is a close partner of Liberia and is committed to continuing its support of democratic governance.
The EU is planning to send a group of observers to Liberia before a general election in October
Josep Borrell, the EU head of foreign policy says the deployment of this election observation mission confirms our long-standing commitment to supporting competitive, transparent and peaceful elections in Liberia, the oldest democracy in Africa.
He says the European Union is a close partner of Liberia and is committed to continuing its support of democratic governance.
The EU is planning to send a group of observers to Liberia before a general election in October
Josep Borrell, the EU head of foreign policy says the deployment of this election observation mission confirms our long-standing commitment to supporting competitive, transparent and peaceful elections in Liberia, the oldest democracy in Africa.
He says the European Union is a close partner of Liberia and is committed to continuing its support of democratic governance.
A planned meeting by West African chiefs of defence staff to discuss the coup in Niger has been postponed at short notice.
The talks - called by the regional bloc, Ecowas - had been expected to take place in the Ghanaian capital, Accra.
Large crowds of supporters of last month's coup gathered near a French military base in Niamey on Friday to denounce Ecowas and France.
US Secretary of State Antony Blinken has expressed grave concern for the family of the deposed president of Niger, who he said were being held under worsening conditions.
A planned meeting by West African chiefs of defence staff to discuss the coup in Niger has been postponed at short notice.
The talks - called by the regional bloc, Ecowas - had been expected to take place in the Ghanaian capital, Accra.
Large crowds of supporters of last month's coup gathered near a French military base in Niamey on Friday to denounce Ecowas and France.
US Secretary of State Antony Blinken has expressed grave concern for the family of the deposed president of Niger, who he said were being held under worsening conditions.
A planned meeting by West African chiefs of defence staff to discuss the coup in Niger has been postponed at short notice.
The talks - called by the regional bloc, Ecowas - had been expected to take place in the Ghanaian capital, Accra.
Large crowds of supporters of last month's coup gathered near a French military base in Niamey on Friday to denounce Ecowas and France.
US Secretary of State Antony Blinken has expressed grave concern for the family of the deposed president of Niger, who he said were being held under worsening conditions.
A planned meeting by West African chiefs of defence staff to discuss the coup in Niger has been postponed at short notice.
The talks - called by the regional bloc, Ecowas - had been expected to take place in the Ghanaian capital, Accra.
Large crowds of supporters of last month's coup gathered near a French military base in Niamey on Friday to denounce Ecowas and France.
US Secretary of State Antony Blinken has expressed grave concern for the family of the deposed president of Niger, who he said were being held under worsening conditions.
A planned meeting by West African chiefs of defence staff to discuss the coup in Niger has been postponed at short notice.
The talks - called by the regional bloc, Ecowas - had been expected to take place in the Ghanaian capital, Accra.
Large crowds of supporters of last month's coup gathered near a French military base in Niamey on Friday to denounce Ecowas and France.
US Secretary of State Antony Blinken has expressed grave concern for the family of the deposed president of Niger, who he said were being held under worsening conditions.
A planned meeting by West African chiefs of defence staff to discuss the coup in Niger has been postponed at short notice.
The talks - called by the regional bloc, Ecowas - had been expected to take place in the Ghanaian capital, Accra.
Large crowds of supporters of last month's coup gathered near a French military base in Niamey on Friday to denounce Ecowas and France.
US Secretary of State Antony Blinken has expressed grave concern for the family of the deposed president of Niger, who he said were being held under worsening conditions.
The Federal Government through the Federal Competition and Consumer Protection Commission has released new a list of 154 fully approved digital lenders licensed to operate in the country.
It gave 40 others conditional approval, added 20 to its watch list, and delisted nine apps.
It also noted that four others comprising of Fastcredit Limited, Greenbond Finance Company Limited, Baines Microfinance Bank Limited, and Ekondo Microfinance Bank Limited, had been licensed by the Central Bank of Nigeria.
It also came after the commission gave digital money lenders a five-day deadline to prove they were operating within its set guidelines.
It announced this earlier when it asked Google to delete 18 digital lenders from Playstore for harassing Nigerians.
The Federal Government through the Federal Competition and Consumer Protection Commission has released new a list of 154 fully approved digital lenders licensed to operate in the country.
It gave 40 others conditional approval, added 20 to its watch list, and delisted nine apps.
It also noted that four others comprising of Fastcredit Limited, Greenbond Finance Company Limited, Baines Microfinance Bank Limited, and Ekondo Microfinance Bank Limited, had been licensed by the Central Bank of Nigeria.
It also came after the commission gave digital money lenders a five-day deadline to prove they were operating within its set guidelines.
It announced this earlier when it asked Google to delete 18 digital lenders from Playstore for harassing Nigerians.
The Federal Government through the Federal Competition and Consumer Protection Commission has released new a list of 154 fully approved digital lenders licensed to operate in the country.
It gave 40 others conditional approval, added 20 to its watch list, and delisted nine apps.
It also noted that four others comprising of Fastcredit Limited, Greenbond Finance Company Limited, Baines Microfinance Bank Limited, and Ekondo Microfinance Bank Limited, had been licensed by the Central Bank of Nigeria.
It also came after the commission gave digital money lenders a five-day deadline to prove they were operating within its set guidelines.
It announced this earlier when it asked Google to delete 18 digital lenders from Playstore for harassing Nigerians.
The Federal Government through the Federal Competition and Consumer Protection Commission has released new a list of 154 fully approved digital lenders licensed to operate in the country.
It gave 40 others conditional approval, added 20 to its watch list, and delisted nine apps.
It also noted that four others comprising of Fastcredit Limited, Greenbond Finance Company Limited, Baines Microfinance Bank Limited, and Ekondo Microfinance Bank Limited, had been licensed by the Central Bank of Nigeria.
It also came after the commission gave digital money lenders a five-day deadline to prove they were operating within its set guidelines.
It announced this earlier when it asked Google to delete 18 digital lenders from Playstore for harassing Nigerians.
The Federal Government through the Federal Competition and Consumer Protection Commission has released new a list of 154 fully approved digital lenders licensed to operate in the country.
It gave 40 others conditional approval, added 20 to its watch list, and delisted nine apps.
It also noted that four others comprising of Fastcredit Limited, Greenbond Finance Company Limited, Baines Microfinance Bank Limited, and Ekondo Microfinance Bank Limited, had been licensed by the Central Bank of Nigeria.
It also came after the commission gave digital money lenders a five-day deadline to prove they were operating within its set guidelines.
It announced this earlier when it asked Google to delete 18 digital lenders from Playstore for harassing Nigerians.
The Federal Government through the Federal Competition and Consumer Protection Commission has released new a list of 154 fully approved digital lenders licensed to operate in the country.
It gave 40 others conditional approval, added 20 to its watch list, and delisted nine apps.
It also noted that four others comprising of Fastcredit Limited, Greenbond Finance Company Limited, Baines Microfinance Bank Limited, and Ekondo Microfinance Bank Limited, had been licensed by the Central Bank of Nigeria.
It also came after the commission gave digital money lenders a five-day deadline to prove they were operating within its set guidelines.
It announced this earlier when it asked Google to delete 18 digital lenders from Playstore for harassing Nigerians.
The National Bureau of Statistics says the average cost of bus transportation within Nigerian cities rose from N649.59 in May 2023 to N1,285.41 in June 2023 as the pump price of Premium Motor Spirit rose.
This means that the cost of intra-city bus transportation rose by 98 per cent or N636 within one month.
It says this included the breakdown of bus journeys within the cities per drop constant route; and bus journey intercity (state route) charge per person amongst other means of transportation.
It said bus fares rose by 120.63 per cent from N582.61 paid by commuters in June 2022.
The National Bureau of Statistics says the average cost of bus transportation within Nigerian cities rose from N649.59 in May 2023 to N1,285.41 in June 2023 as the pump price of Premium Motor Spirit rose.
This means that the cost of intra-city bus transportation rose by 98 per cent or N636 within one month.
It says this included the breakdown of bus journeys within the cities per drop constant route; and bus journey intercity (state route) charge per person amongst other means of transportation.
It said bus fares rose by 120.63 per cent from N582.61 paid by commuters in June 2022.
The National Bureau of Statistics says the average cost of bus transportation within Nigerian cities rose from N649.59 in May 2023 to N1,285.41 in June 2023 as the pump price of Premium Motor Spirit rose.
This means that the cost of intra-city bus transportation rose by 98 per cent or N636 within one month.
It says this included the breakdown of bus journeys within the cities per drop constant route; and bus journey intercity (state route) charge per person amongst other means of transportation.
It said bus fares rose by 120.63 per cent from N582.61 paid by commuters in June 2022.
The National Bureau of Statistics says the average cost of bus transportation within Nigerian cities rose from N649.59 in May 2023 to N1,285.41 in June 2023 as the pump price of Premium Motor Spirit rose.
This means that the cost of intra-city bus transportation rose by 98 per cent or N636 within one month.
It says this included the breakdown of bus journeys within the cities per drop constant route; and bus journey intercity (state route) charge per person amongst other means of transportation.
It said bus fares rose by 120.63 per cent from N582.61 paid by commuters in June 2022.
The National Bureau of Statistics says the average cost of bus transportation within Nigerian cities rose from N649.59 in May 2023 to N1,285.41 in June 2023 as the pump price of Premium Motor Spirit rose.
This means that the cost of intra-city bus transportation rose by 98 per cent or N636 within one month.
It says this included the breakdown of bus journeys within the cities per drop constant route; and bus journey intercity (state route) charge per person amongst other means of transportation.
It said bus fares rose by 120.63 per cent from N582.61 paid by commuters in June 2022.
The National Bureau of Statistics says the average cost of bus transportation within Nigerian cities rose from N649.59 in May 2023 to N1,285.41 in June 2023 as the pump price of Premium Motor Spirit rose.
This means that the cost of intra-city bus transportation rose by 98 per cent or N636 within one month.
It says this included the breakdown of bus journeys within the cities per drop constant route; and bus journey intercity (state route) charge per person amongst other means of transportation.
It said bus fares rose by 120.63 per cent from N582.61 paid by commuters in June 2022.
Oil marketers, indicated that the cost of petrol would rise to between N680/litre and N720/litre in the coming weeks should the dollar continue to trade from N910 to N950 at the parallel market.
They also hinted that dealers seeking to import PMS were being forced to put the plans on hold due to the scarcity of foreign exchange to import the commodity.
Oil dealers say the CBN Importers and Exporters' official window for foreign exchange, which boasts of a lower exchange rate of about $740/litre, had remained illiquid and unable to provide the $25m to $30m required for the importation of PMS by dealers.
They said this had led to the suspension of petrol importation by dealers who were initially eager to import the commodity.
Oil marketers, indicated that the cost of petrol would rise to between N680/litre and N720/litre in the coming weeks should the dollar continue to trade from N910 to N950 at the parallel market.
They also hinted that dealers seeking to import PMS were being forced to put the plans on hold due to the scarcity of foreign exchange to import the commodity.
Oil dealers say the CBN Importers and Exporters' official window for foreign exchange, which boasts of a lower exchange rate of about $740/litre, had remained illiquid and unable to provide the $25m to $30m required for the importation of PMS by dealers.
They said this had led to the suspension of petrol importation by dealers who were initially eager to import the commodity.
Oil marketers, indicated that the cost of petrol would rise to between N680/litre and N720/litre in the coming weeks should the dollar continue to trade from N910 to N950 at the parallel market.
They also hinted that dealers seeking to import PMS were being forced to put the plans on hold due to the scarcity of foreign exchange to import the commodity.
Oil dealers say the CBN Importers and Exporters' official window for foreign exchange, which boasts of a lower exchange rate of about $740/litre, had remained illiquid and unable to provide the $25m to $30m required for the importation of PMS by dealers.
They said this had led to the suspension of petrol importation by dealers who were initially eager to import the commodity.
Oil marketers, indicated that the cost of petrol would rise to between N680/litre and N720/litre in the coming weeks should the dollar continue to trade from N910 to N950 at the parallel market.
They also hinted that dealers seeking to import PMS were being forced to put the plans on hold due to the scarcity of foreign exchange to import the commodity.
Oil dealers say the CBN Importers and Exporters' official window for foreign exchange, which boasts of a lower exchange rate of about $740/litre, had remained illiquid and unable to provide the $25m to $30m required for the importation of PMS by dealers.
They said this had led to the suspension of petrol importation by dealers who were initially eager to import the commodity.
Oil marketers, indicated that the cost of petrol would rise to between N680/litre and N720/litre in the coming weeks should the dollar continue to trade from N910 to N950 at the parallel market.
They also hinted that dealers seeking to import PMS were being forced to put the plans on hold due to the scarcity of foreign exchange to import the commodity.
Oil dealers say the CBN Importers and Exporters' official window for foreign exchange, which boasts of a lower exchange rate of about $740/litre, had remained illiquid and unable to provide the $25m to $30m required for the importation of PMS by dealers.
They said this had led to the suspension of petrol importation by dealers who were initially eager to import the commodity.
Oil marketers, indicated that the cost of petrol would rise to between N680/litre and N720/litre in the coming weeks should the dollar continue to trade from N910 to N950 at the parallel market.
They also hinted that dealers seeking to import PMS were being forced to put the plans on hold due to the scarcity of foreign exchange to import the commodity.
Oil dealers say the CBN Importers and Exporters' official window for foreign exchange, which boasts of a lower exchange rate of about $740/litre, had remained illiquid and unable to provide the $25m to $30m required for the importation of PMS by dealers.
They said this had led to the suspension of petrol importation by dealers who were initially eager to import the commodity.
The National Judicial Council has dismissed a letter purportedly emanating from it, surrendering its statutory powers and functions on judges’ appointments and promotions to state governors.
The NJC says that the letter addressed to the Chief Judge of Kebbi State and purportedly signed by the Chief Justice of Nigeria Justice Olukayode Ariwoola, did not emanate from the Council or the CJN.
NJC’s Director of Information, Soji Oye, says there was no iota of truth in the fake letter.
The Council says it has reported the unfortunate case to the relevant security agencies with a view to investigating and bringing to book whoever is behind this dastardly act.
The National Judicial Council has dismissed a letter purportedly emanating from it, surrendering its statutory powers and functions on judges’ appointments and promotions to state governors.
The NJC says that the letter addressed to the Chief Judge of Kebbi State and purportedly signed by the Chief Justice of Nigeria Justice Olukayode Ariwoola, did not emanate from the Council or the CJN.
NJC’s Director of Information, Soji Oye, says there was no iota of truth in the fake letter.
The Council says it has reported the unfortunate case to the relevant security agencies with a view to investigating and bringing to book whoever is behind this dastardly act.
The National Judicial Council has dismissed a letter purportedly emanating from it, surrendering its statutory powers and functions on judges’ appointments and promotions to state governors.
The NJC says that the letter addressed to the Chief Judge of Kebbi State and purportedly signed by the Chief Justice of Nigeria Justice Olukayode Ariwoola, did not emanate from the Council or the CJN.
NJC’s Director of Information, Soji Oye, says there was no iota of truth in the fake letter.
The Council says it has reported the unfortunate case to the relevant security agencies with a view to investigating and bringing to book whoever is behind this dastardly act.
The National Judicial Council has dismissed a letter purportedly emanating from it, surrendering its statutory powers and functions on judges’ appointments and promotions to state governors.
The NJC says that the letter addressed to the Chief Judge of Kebbi State and purportedly signed by the Chief Justice of Nigeria Justice Olukayode Ariwoola, did not emanate from the Council or the CJN.
NJC’s Director of Information, Soji Oye, says there was no iota of truth in the fake letter.
The Council says it has reported the unfortunate case to the relevant security agencies with a view to investigating and bringing to book whoever is behind this dastardly act.
The National Judicial Council has dismissed a letter purportedly emanating from it, surrendering its statutory powers and functions on judges’ appointments and promotions to state governors.
The NJC says that the letter addressed to the Chief Judge of Kebbi State and purportedly signed by the Chief Justice of Nigeria Justice Olukayode Ariwoola, did not emanate from the Council or the CJN.
NJC’s Director of Information, Soji Oye, says there was no iota of truth in the fake letter.
The Council says it has reported the unfortunate case to the relevant security agencies with a view to investigating and bringing to book whoever is behind this dastardly act.
The National Judicial Council has dismissed a letter purportedly emanating from it, surrendering its statutory powers and functions on judges’ appointments and promotions to state governors.
The NJC says that the letter addressed to the Chief Judge of Kebbi State and purportedly signed by the Chief Justice of Nigeria Justice Olukayode Ariwoola, did not emanate from the Council or the CJN.
NJC’s Director of Information, Soji Oye, says there was no iota of truth in the fake letter.
The Council says it has reported the unfortunate case to the relevant security agencies with a view to investigating and bringing to book whoever is behind this dastardly act.
The eight countries that share the Amazon basin have fallen short of an agreed goal to end deforestation.
Delegates from the countries are meeting in the Brazilian city of Belém for a two-day summit on the issue, the first such gathering in 14 years.
A joint declaration created an alliance to combat deforestation but left each country to pursue its own conservation goals.
Ahead of the summit, Brazilian President Luiz Inácio Lula da Silva had called for a common goal of ending deforestation by 2030, a policy his own government has already adopted.
Lula says the challenges of our era, and the opportunities arising from them, demand we act in unison.
The eight countries that share the Amazon basin have fallen short of an agreed goal to end deforestation.
Delegates from the countries are meeting in the Brazilian city of Belém for a two-day summit on the issue, the first such gathering in 14 years.
A joint declaration created an alliance to combat deforestation but left each country to pursue its own conservation goals.
Ahead of the summit, Brazilian President Luiz Inácio Lula da Silva had called for a common goal of ending deforestation by 2030, a policy his own government has already adopted.
Lula says the challenges of our era, and the opportunities arising from them, demand we act in unison.
The eight countries that share the Amazon basin have fallen short of an agreed goal to end deforestation.
Delegates from the countries are meeting in the Brazilian city of Belém for a two-day summit on the issue, the first such gathering in 14 years.
A joint declaration created an alliance to combat deforestation but left each country to pursue its own conservation goals.
Ahead of the summit, Brazilian President Luiz Inácio Lula da Silva had called for a common goal of ending deforestation by 2030, a policy his own government has already adopted.
Lula says the challenges of our era, and the opportunities arising from them, demand we act in unison.
The eight countries that share the Amazon basin have fallen short of an agreed goal to end deforestation.
Delegates from the countries are meeting in the Brazilian city of Belém for a two-day summit on the issue, the first such gathering in 14 years.
A joint declaration created an alliance to combat deforestation but left each country to pursue its own conservation goals.
Ahead of the summit, Brazilian President Luiz Inácio Lula da Silva had called for a common goal of ending deforestation by 2030, a policy his own government has already adopted.
Lula says the challenges of our era, and the opportunities arising from them, demand we act in unison.
The eight countries that share the Amazon basin have fallen short of an agreed goal to end deforestation.
Delegates from the countries are meeting in the Brazilian city of Belém for a two-day summit on the issue, the first such gathering in 14 years.
A joint declaration created an alliance to combat deforestation but left each country to pursue its own conservation goals.
Ahead of the summit, Brazilian President Luiz Inácio Lula da Silva had called for a common goal of ending deforestation by 2030, a policy his own government has already adopted.
Lula says the challenges of our era, and the opportunities arising from them, demand we act in unison.
The eight countries that share the Amazon basin have fallen short of an agreed goal to end deforestation.
Delegates from the countries are meeting in the Brazilian city of Belém for a two-day summit on the issue, the first such gathering in 14 years.
A joint declaration created an alliance to combat deforestation but left each country to pursue its own conservation goals.
Ahead of the summit, Brazilian President Luiz Inácio Lula da Silva had called for a common goal of ending deforestation by 2030, a policy his own government has already adopted.
Lula says the challenges of our era, and the opportunities arising from them, demand we act in unison.
Restrictions on untraceable "ghost guns" in the US will remain in place, while the White House appeals against a court ruling which prevented them from being classified as a firearm.
Pro-gun rights groups had sued to stop legally classifying them as a firearm.
The decision comes as President Joe Biden's administration faces pressure to take more action on gun violence.
Supreme Court ruling means that the regulation will stand while the White House appeals the Texas decision. That appeal could eventually end up back in front of the Supreme Court.
Restrictions on untraceable "ghost guns" in the US will remain in place, while the White House appeals against a court ruling which prevented them from being classified as a firearm.
Pro-gun rights groups had sued to stop legally classifying them as a firearm.
The decision comes as President Joe Biden's administration faces pressure to take more action on gun violence.
Supreme Court ruling means that the regulation will stand while the White House appeals the Texas decision. That appeal could eventually end up back in front of the Supreme Court.
Restrictions on untraceable "ghost guns" in the US will remain in place, while the White House appeals against a court ruling which prevented them from being classified as a firearm.
Pro-gun rights groups had sued to stop legally classifying them as a firearm.
The decision comes as President Joe Biden's administration faces pressure to take more action on gun violence.
Supreme Court ruling means that the regulation will stand while the White House appeals the Texas decision. That appeal could eventually end up back in front of the Supreme Court.
Restrictions on untraceable "ghost guns" in the US will remain in place, while the White House appeals against a court ruling which prevented them from being classified as a firearm.
Pro-gun rights groups had sued to stop legally classifying them as a firearm.
The decision comes as President Joe Biden's administration faces pressure to take more action on gun violence.
Supreme Court ruling means that the regulation will stand while the White House appeals the Texas decision. That appeal could eventually end up back in front of the Supreme Court.
Restrictions on untraceable "ghost guns" in the US will remain in place, while the White House appeals against a court ruling which prevented them from being classified as a firearm.
Pro-gun rights groups had sued to stop legally classifying them as a firearm.
The decision comes as President Joe Biden's administration faces pressure to take more action on gun violence.
Supreme Court ruling means that the regulation will stand while the White House appeals the Texas decision. That appeal could eventually end up back in front of the Supreme Court.
Restrictions on untraceable "ghost guns" in the US will remain in place, while the White House appeals against a court ruling which prevented them from being classified as a firearm.
Pro-gun rights groups had sued to stop legally classifying them as a firearm.
The decision comes as President Joe Biden's administration faces pressure to take more action on gun violence.
Supreme Court ruling means that the regulation will stand while the White House appeals the Texas decision. That appeal could eventually end up back in front of the Supreme Court.
US Secretary of State Antony Blinken has warned against Russia’s Wagner mercenaries taking advantage of instability in coup-hit Niger, whose neighbour Mali has become a partner of Moscow.
Blinken doubted that Wagner plotted the Nigerien military’s July 26 ouster of the elected president, Western ally Mohamed Bazoum.
Blinken says Russia or by Wagner to an extent might try to take advantage of it and there will be a repeat of what’s happened in other countries.
US Secretary of State Antony Blinken has warned against Russia’s Wagner mercenaries taking advantage of instability in coup-hit Niger, whose neighbour Mali has become a partner of Moscow.
Blinken doubted that Wagner plotted the Nigerien military’s July 26 ouster of the elected president, Western ally Mohamed Bazoum.
Blinken says Russia or by Wagner to an extent might try to take advantage of it and there will be a repeat of what’s happened in other countries.
US Secretary of State Antony Blinken has warned against Russia’s Wagner mercenaries taking advantage of instability in coup-hit Niger, whose neighbour Mali has become a partner of Moscow.
Blinken doubted that Wagner plotted the Nigerien military’s July 26 ouster of the elected president, Western ally Mohamed Bazoum.
Blinken says Russia or by Wagner to an extent might try to take advantage of it and there will be a repeat of what’s happened in other countries.
US Secretary of State Antony Blinken has warned against Russia’s Wagner mercenaries taking advantage of instability in coup-hit Niger, whose neighbour Mali has become a partner of Moscow.
Blinken doubted that Wagner plotted the Nigerien military’s July 26 ouster of the elected president, Western ally Mohamed Bazoum.
Blinken says Russia or by Wagner to an extent might try to take advantage of it and there will be a repeat of what’s happened in other countries.
US Secretary of State Antony Blinken has warned against Russia’s Wagner mercenaries taking advantage of instability in coup-hit Niger, whose neighbour Mali has become a partner of Moscow.
Blinken doubted that Wagner plotted the Nigerien military’s July 26 ouster of the elected president, Western ally Mohamed Bazoum.
Blinken says Russia or by Wagner to an extent might try to take advantage of it and there will be a repeat of what’s happened in other countries.
US Secretary of State Antony Blinken has warned against Russia’s Wagner mercenaries taking advantage of instability in coup-hit Niger, whose neighbour Mali has become a partner of Moscow.
Blinken doubted that Wagner plotted the Nigerien military’s July 26 ouster of the elected president, Western ally Mohamed Bazoum.
Blinken says Russia or by Wagner to an extent might try to take advantage of it and there will be a repeat of what’s happened in other countries.
The UN's World Food Programme has decided to resume supplies in one region two months after they stopped sending critical food aid to Ethiopia over concerns donations were being diverted from those in need,.
The WFP says Incremental supplies have begun in Tigray under a new monitoring process, first with 15kg pre-packed bags of wheat to just over 100,000 people.
Millions of people across the country are at risk of severe food shortages.
USAid, which also cut food supplies to Ethiopia around the same time as WFP, says that it had no plans to resume operations.
The UN's World Food Programme has decided to resume supplies in one region two months after they stopped sending critical food aid to Ethiopia over concerns donations were being diverted from those in need,.
The WFP says Incremental supplies have begun in Tigray under a new monitoring process, first with 15kg pre-packed bags of wheat to just over 100,000 people.
Millions of people across the country are at risk of severe food shortages.
USAid, which also cut food supplies to Ethiopia around the same time as WFP, says that it had no plans to resume operations.
The UN's World Food Programme has decided to resume supplies in one region two months after they stopped sending critical food aid to Ethiopia over concerns donations were being diverted from those in need,.
The WFP says Incremental supplies have begun in Tigray under a new monitoring process, first with 15kg pre-packed bags of wheat to just over 100,000 people.
Millions of people across the country are at risk of severe food shortages.
USAid, which also cut food supplies to Ethiopia around the same time as WFP, says that it had no plans to resume operations.
The UN's World Food Programme has decided to resume supplies in one region two months after they stopped sending critical food aid to Ethiopia over concerns donations were being diverted from those in need,.
The WFP says Incremental supplies have begun in Tigray under a new monitoring process, first with 15kg pre-packed bags of wheat to just over 100,000 people.
Millions of people across the country are at risk of severe food shortages.
USAid, which also cut food supplies to Ethiopia around the same time as WFP, says that it had no plans to resume operations.
The UN's World Food Programme has decided to resume supplies in one region two months after they stopped sending critical food aid to Ethiopia over concerns donations were being diverted from those in need,.
The WFP says Incremental supplies have begun in Tigray under a new monitoring process, first with 15kg pre-packed bags of wheat to just over 100,000 people.
Millions of people across the country are at risk of severe food shortages.
USAid, which also cut food supplies to Ethiopia around the same time as WFP, says that it had no plans to resume operations.
The UN's World Food Programme has decided to resume supplies in one region two months after they stopped sending critical food aid to Ethiopia over concerns donations were being diverted from those in need,.
The WFP says Incremental supplies have begun in Tigray under a new monitoring process, first with 15kg pre-packed bags of wheat to just over 100,000 people.
Millions of people across the country are at risk of severe food shortages.
USAid, which also cut food supplies to Ethiopia around the same time as WFP, says that it had no plans to resume operations.
South African entertainment company Multichoice, which owns and operates satellite pay-TV service DSTV, has withdrawn from Malawi after a court barred its local franchise from increasing prices.
The company says no new subscriptions or reconnections will be accepted and it will only continue serving clients with active subscriptions until 10 September.
Multichoice Malawi earlier announced an increase in DSTV prices, but the Malawi Communications Regulatory Authority acquired a temporary court injunction preventing the hike from going through.
MultiChoice Malawi argued that it was merely collecting subscription fees on behalf of MultiChoice Africa, which sets and adjusts the prices.
South African entertainment company Multichoice, which owns and operates satellite pay-TV service DSTV, has withdrawn from Malawi after a court barred its local franchise from increasing prices.
The company says no new subscriptions or reconnections will be accepted and it will only continue serving clients with active subscriptions until 10 September.
Multichoice Malawi earlier announced an increase in DSTV prices, but the Malawi Communications Regulatory Authority acquired a temporary court injunction preventing the hike from going through.
MultiChoice Malawi argued that it was merely collecting subscription fees on behalf of MultiChoice Africa, which sets and adjusts the prices.
South African entertainment company Multichoice, which owns and operates satellite pay-TV service DSTV, has withdrawn from Malawi after a court barred its local franchise from increasing prices.
The company says no new subscriptions or reconnections will be accepted and it will only continue serving clients with active subscriptions until 10 September.
Multichoice Malawi earlier announced an increase in DSTV prices, but the Malawi Communications Regulatory Authority acquired a temporary court injunction preventing the hike from going through.
MultiChoice Malawi argued that it was merely collecting subscription fees on behalf of MultiChoice Africa, which sets and adjusts the prices.
South African entertainment company Multichoice, which owns and operates satellite pay-TV service DSTV, has withdrawn from Malawi after a court barred its local franchise from increasing prices.
The company says no new subscriptions or reconnections will be accepted and it will only continue serving clients with active subscriptions until 10 September.
Multichoice Malawi earlier announced an increase in DSTV prices, but the Malawi Communications Regulatory Authority acquired a temporary court injunction preventing the hike from going through.
MultiChoice Malawi argued that it was merely collecting subscription fees on behalf of MultiChoice Africa, which sets and adjusts the prices.
South African entertainment company Multichoice, which owns and operates satellite pay-TV service DSTV, has withdrawn from Malawi after a court barred its local franchise from increasing prices.
The company says no new subscriptions or reconnections will be accepted and it will only continue serving clients with active subscriptions until 10 September.
Multichoice Malawi earlier announced an increase in DSTV prices, but the Malawi Communications Regulatory Authority acquired a temporary court injunction preventing the hike from going through.
MultiChoice Malawi argued that it was merely collecting subscription fees on behalf of MultiChoice Africa, which sets and adjusts the prices.
South African entertainment company Multichoice, which owns and operates satellite pay-TV service DSTV, has withdrawn from Malawi after a court barred its local franchise from increasing prices.
The company says no new subscriptions or reconnections will be accepted and it will only continue serving clients with active subscriptions until 10 September.
Multichoice Malawi earlier announced an increase in DSTV prices, but the Malawi Communications Regulatory Authority acquired a temporary court injunction preventing the hike from going through.
MultiChoice Malawi argued that it was merely collecting subscription fees on behalf of MultiChoice Africa, which sets and adjusts the prices.
The Federal Government has said the financial worth of direct economic damage in Nigeria caused by floods in 2022 is $7bn.
The government says over 600 lives were lost as a result of the disaster. It described the situation as the worst effect of climate change in Nigeria.
Vice President Kashim Shettima says the World Bank’s Global Rapid post-disaster damage estimation assessment put the total direct economic damage to infrastructure to be about $7bn.
He says this is equivalent to 1.6 per cent of Nigeria’s estimated 2021 Gross Domestic Product, not including the loss of over 600 lives. For Nigeria, that was climate change at its worst.
The Federal Government has said the financial worth of direct economic damage in Nigeria caused by floods in 2022 is $7bn.
The government says over 600 lives were lost as a result of the disaster. It described the situation as the worst effect of climate change in Nigeria.
Vice President Kashim Shettima says the World Bank’s Global Rapid post-disaster damage estimation assessment put the total direct economic damage to infrastructure to be about $7bn.
He says this is equivalent to 1.6 per cent of Nigeria’s estimated 2021 Gross Domestic Product, not including the loss of over 600 lives. For Nigeria, that was climate change at its worst.
The Federal Government has said the financial worth of direct economic damage in Nigeria caused by floods in 2022 is $7bn.
The government says over 600 lives were lost as a result of the disaster. It described the situation as the worst effect of climate change in Nigeria.
Vice President Kashim Shettima says the World Bank’s Global Rapid post-disaster damage estimation assessment put the total direct economic damage to infrastructure to be about $7bn.
He says this is equivalent to 1.6 per cent of Nigeria’s estimated 2021 Gross Domestic Product, not including the loss of over 600 lives. For Nigeria, that was climate change at its worst.
The Federal Government has said the financial worth of direct economic damage in Nigeria caused by floods in 2022 is $7bn.
The government says over 600 lives were lost as a result of the disaster. It described the situation as the worst effect of climate change in Nigeria.
Vice President Kashim Shettima says the World Bank’s Global Rapid post-disaster damage estimation assessment put the total direct economic damage to infrastructure to be about $7bn.
He says this is equivalent to 1.6 per cent of Nigeria’s estimated 2021 Gross Domestic Product, not including the loss of over 600 lives. For Nigeria, that was climate change at its worst.
The Federal Government has said the financial worth of direct economic damage in Nigeria caused by floods in 2022 is $7bn.
The government says over 600 lives were lost as a result of the disaster. It described the situation as the worst effect of climate change in Nigeria.
Vice President Kashim Shettima says the World Bank’s Global Rapid post-disaster damage estimation assessment put the total direct economic damage to infrastructure to be about $7bn.
He says this is equivalent to 1.6 per cent of Nigeria’s estimated 2021 Gross Domestic Product, not including the loss of over 600 lives. For Nigeria, that was climate change at its worst.
The Federal Government has said the financial worth of direct economic damage in Nigeria caused by floods in 2022 is $7bn.
The government says over 600 lives were lost as a result of the disaster. It described the situation as the worst effect of climate change in Nigeria.
Vice President Kashim Shettima says the World Bank’s Global Rapid post-disaster damage estimation assessment put the total direct economic damage to infrastructure to be about $7bn.
He says this is equivalent to 1.6 per cent of Nigeria’s estimated 2021 Gross Domestic Product, not including the loss of over 600 lives. For Nigeria, that was climate change at its worst.
The Nigerian Association of Resident Doctors has suspended its planned protest.
NARD President, Innocent Orji, says the industrial action by the association, however, continues.
Orji says the protest will be on hold but the strike is continuing adding that they will review again in 72 hours.
The NARD President says his colleagues have eight major demands including the need for the government to recruit new hands to replace those who have left the system through migration (brain drain) or death.
The Nigerian Association of Resident Doctors has suspended its planned protest.
NARD President, Innocent Orji, says the industrial action by the association, however, continues.
Orji says the protest will be on hold but the strike is continuing adding that they will review again in 72 hours.
The NARD President says his colleagues have eight major demands including the need for the government to recruit new hands to replace those who have left the system through migration (brain drain) or death.
The Nigerian Association of Resident Doctors has suspended its planned protest.
NARD President, Innocent Orji, says the industrial action by the association, however, continues.
Orji says the protest will be on hold but the strike is continuing adding that they will review again in 72 hours.
The NARD President says his colleagues have eight major demands including the need for the government to recruit new hands to replace those who have left the system through migration (brain drain) or death.
The Nigerian Association of Resident Doctors has suspended its planned protest.
NARD President, Innocent Orji, says the industrial action by the association, however, continues.
Orji says the protest will be on hold but the strike is continuing adding that they will review again in 72 hours.
The NARD President says his colleagues have eight major demands including the need for the government to recruit new hands to replace those who have left the system through migration (brain drain) or death.
The Nigerian Association of Resident Doctors has suspended its planned protest.
NARD President, Innocent Orji, says the industrial action by the association, however, continues.
Orji says the protest will be on hold but the strike is continuing adding that they will review again in 72 hours.
The NARD President says his colleagues have eight major demands including the need for the government to recruit new hands to replace those who have left the system through migration (brain drain) or death.
The Nigerian Association of Resident Doctors has suspended its planned protest.
NARD President, Innocent Orji, says the industrial action by the association, however, continues.
Orji says the protest will be on hold but the strike is continuing adding that they will review again in 72 hours.
The NARD President says his colleagues have eight major demands including the need for the government to recruit new hands to replace those who have left the system through migration (brain drain) or death.
President Bola Tinubu has ordered fresh sanctions through the Central Bank of Nigeria on entities, and individuals related to and involved with the military junta in Niger Republic.
The Special Adviser to the President, Media, and Public Affairs, Ajuri Ngelale says these sanctions are based on the position of financial sanctions meted out on the military junta in the Niger Republic by the Economic Community of West African States heads of states.
He says while no option has been taken off the table, it is expected that the far-reaching decisions will be taken by the bloc at the upcoming extraordinary meeting
President Bola Tinubu has ordered fresh sanctions through the Central Bank of Nigeria on entities, and individuals related to and involved with the military junta in Niger Republic.
The Special Adviser to the President, Media, and Public Affairs, Ajuri Ngelale says these sanctions are based on the position of financial sanctions meted out on the military junta in the Niger Republic by the Economic Community of West African States heads of states.
He says while no option has been taken off the table, it is expected that the far-reaching decisions will be taken by the bloc at the upcoming extraordinary meeting
President Bola Tinubu has ordered fresh sanctions through the Central Bank of Nigeria on entities, and individuals related to and involved with the military junta in Niger Republic.
The Special Adviser to the President, Media, and Public Affairs, Ajuri Ngelale says these sanctions are based on the position of financial sanctions meted out on the military junta in the Niger Republic by the Economic Community of West African States heads of states.
He says while no option has been taken off the table, it is expected that the far-reaching decisions will be taken by the bloc at the upcoming extraordinary meeting
President Bola Tinubu has ordered fresh sanctions through the Central Bank of Nigeria on entities, and individuals related to and involved with the military junta in Niger Republic.
The Special Adviser to the President, Media, and Public Affairs, Ajuri Ngelale says these sanctions are based on the position of financial sanctions meted out on the military junta in the Niger Republic by the Economic Community of West African States heads of states.
He says while no option has been taken off the table, it is expected that the far-reaching decisions will be taken by the bloc at the upcoming extraordinary meeting
President Bola Tinubu has ordered fresh sanctions through the Central Bank of Nigeria on entities, and individuals related to and involved with the military junta in Niger Republic.
The Special Adviser to the President, Media, and Public Affairs, Ajuri Ngelale says these sanctions are based on the position of financial sanctions meted out on the military junta in the Niger Republic by the Economic Community of West African States heads of states.
He says while no option has been taken off the table, it is expected that the far-reaching decisions will be taken by the bloc at the upcoming extraordinary meeting
President Bola Tinubu has ordered fresh sanctions through the Central Bank of Nigeria on entities, and individuals related to and involved with the military junta in Niger Republic.
The Special Adviser to the President, Media, and Public Affairs, Ajuri Ngelale says these sanctions are based on the position of financial sanctions meted out on the military junta in the Niger Republic by the Economic Community of West African States heads of states.
He says while no option has been taken off the table, it is expected that the far-reaching decisions will be taken by the bloc at the upcoming extraordinary meeting
Elon Musk says his X social media platform will pay the legal bills of people who have been treated unfairly by employers because of posting or liking something on the site formerly known as Twitter.
Musk says anyone unfairly treated by their employer due to posting or liking something on this platform will be funded the legal bill adding that there will be no limits to funding the bills.
Musk gave no details on how users could claim money for their legal fees.
Users, including many celebrities and others in the public eye, have occasionally found themselves in hot water with their employers over controversial things they have posted, liked, or reposted on the platform.
Elon Musk says his X social media platform will pay the legal bills of people who have been treated unfairly by employers because of posting or liking something on the site formerly known as Twitter.
Musk says anyone unfairly treated by their employer due to posting or liking something on this platform will be funded the legal bill adding that there will be no limits to funding the bills.
Musk gave no details on how users could claim money for their legal fees.
Users, including many celebrities and others in the public eye, have occasionally found themselves in hot water with their employers over controversial things they have posted, liked, or reposted on the platform.
Elon Musk says his X social media platform will pay the legal bills of people who have been treated unfairly by employers because of posting or liking something on the site formerly known as Twitter.
Musk says anyone unfairly treated by their employer due to posting or liking something on this platform will be funded the legal bill adding that there will be no limits to funding the bills.
Musk gave no details on how users could claim money for their legal fees.
Users, including many celebrities and others in the public eye, have occasionally found themselves in hot water with their employers over controversial things they have posted, liked, or reposted on the platform.
Elon Musk says his X social media platform will pay the legal bills of people who have been treated unfairly by employers because of posting or liking something on the site formerly known as Twitter.
Musk says anyone unfairly treated by their employer due to posting or liking something on this platform will be funded the legal bill adding that there will be no limits to funding the bills.
Musk gave no details on how users could claim money for their legal fees.
Users, including many celebrities and others in the public eye, have occasionally found themselves in hot water with their employers over controversial things they have posted, liked, or reposted on the platform.
Elon Musk says his X social media platform will pay the legal bills of people who have been treated unfairly by employers because of posting or liking something on the site formerly known as Twitter.
Musk says anyone unfairly treated by their employer due to posting or liking something on this platform will be funded the legal bill adding that there will be no limits to funding the bills.
Musk gave no details on how users could claim money for their legal fees.
Users, including many celebrities and others in the public eye, have occasionally found themselves in hot water with their employers over controversial things they have posted, liked, or reposted on the platform.
Elon Musk says his X social media platform will pay the legal bills of people who have been treated unfairly by employers because of posting or liking something on the site formerly known as Twitter.
Musk says anyone unfairly treated by their employer due to posting or liking something on this platform will be funded the legal bill adding that there will be no limits to funding the bills.
Musk gave no details on how users could claim money for their legal fees.
Users, including many celebrities and others in the public eye, have occasionally found themselves in hot water with their employers over controversial things they have posted, liked, or reposted on the platform.
Former US president Donald Trump says he will petition to have a different judge oversee his historic criminal trial and for the case to be moved out of Washington.
The twice-impeached Republican has unleashed a stream of invective against those prosecuting him or running the case in which he faces charges over attempts to overturn the 2020 election results and defraud the United States.
US District Court Judge Tanya Chutkan, the appointee of Democratic former president Barack Obama was randomly assigned to the case in Washington.
Former US president Donald Trump says he will petition to have a different judge oversee his historic criminal trial and for the case to be moved out of Washington.
The twice-impeached Republican has unleashed a stream of invective against those prosecuting him or running the case in which he faces charges over attempts to overturn the 2020 election results and defraud the United States.
US District Court Judge Tanya Chutkan, the appointee of Democratic former president Barack Obama was randomly assigned to the case in Washington.
Former US president Donald Trump says he will petition to have a different judge oversee his historic criminal trial and for the case to be moved out of Washington.
The twice-impeached Republican has unleashed a stream of invective against those prosecuting him or running the case in which he faces charges over attempts to overturn the 2020 election results and defraud the United States.
US District Court Judge Tanya Chutkan, the appointee of Democratic former president Barack Obama was randomly assigned to the case in Washington.
Former US president Donald Trump says he will petition to have a different judge oversee his historic criminal trial and for the case to be moved out of Washington.
The twice-impeached Republican has unleashed a stream of invective against those prosecuting him or running the case in which he faces charges over attempts to overturn the 2020 election results and defraud the United States.
US District Court Judge Tanya Chutkan, the appointee of Democratic former president Barack Obama was randomly assigned to the case in Washington.
Former US president Donald Trump says he will petition to have a different judge oversee his historic criminal trial and for the case to be moved out of Washington.
The twice-impeached Republican has unleashed a stream of invective against those prosecuting him or running the case in which he faces charges over attempts to overturn the 2020 election results and defraud the United States.
US District Court Judge Tanya Chutkan, the appointee of Democratic former president Barack Obama was randomly assigned to the case in Washington.
Former US president Donald Trump says he will petition to have a different judge oversee his historic criminal trial and for the case to be moved out of Washington.
The twice-impeached Republican has unleashed a stream of invective against those prosecuting him or running the case in which he faces charges over attempts to overturn the 2020 election results and defraud the United States.
US District Court Judge Tanya Chutkan, the appointee of Democratic former president Barack Obama was randomly assigned to the case in Washington.
Niger’s military leaders have closed the country’s airspace after defying a deadline by the regional bloc Ecowas to hand back power to a civilian government or face possible armed intervention.
The army says it believes preparations to invade Niger had begun in two African countries but gave no evidence.
Niger’s generals appear to be taking the threat of invasion by West African states seriously.
A spokesman says any violation of the airspace would be met with an "energetic and immediate response.
Ecowas says it hopes to resolve the crisis peacefully but warned that plans for military intervention had been worked out.
Niger’s military leaders have closed the country’s airspace after defying a deadline by the regional bloc Ecowas to hand back power to a civilian government or face possible armed intervention.
The army says it believes preparations to invade Niger had begun in two African countries but gave no evidence.
Niger’s generals appear to be taking the threat of invasion by West African states seriously.
A spokesman says any violation of the airspace would be met with an "energetic and immediate response.
Ecowas says it hopes to resolve the crisis peacefully but warned that plans for military intervention had been worked out.
Niger’s military leaders have closed the country’s airspace after defying a deadline by the regional bloc Ecowas to hand back power to a civilian government or face possible armed intervention.
The army says it believes preparations to invade Niger had begun in two African countries but gave no evidence.
Niger’s generals appear to be taking the threat of invasion by West African states seriously.
A spokesman says any violation of the airspace would be met with an "energetic and immediate response.
Ecowas says it hopes to resolve the crisis peacefully but warned that plans for military intervention had been worked out.
Niger’s military leaders have closed the country’s airspace after defying a deadline by the regional bloc Ecowas to hand back power to a civilian government or face possible armed intervention.
The army says it believes preparations to invade Niger had begun in two African countries but gave no evidence.
Niger’s generals appear to be taking the threat of invasion by West African states seriously.
A spokesman says any violation of the airspace would be met with an "energetic and immediate response.
Ecowas says it hopes to resolve the crisis peacefully but warned that plans for military intervention had been worked out.
Niger’s military leaders have closed the country’s airspace after defying a deadline by the regional bloc Ecowas to hand back power to a civilian government or face possible armed intervention.
The army says it believes preparations to invade Niger had begun in two African countries but gave no evidence.
Niger’s generals appear to be taking the threat of invasion by West African states seriously.
A spokesman says any violation of the airspace would be met with an "energetic and immediate response.
Ecowas says it hopes to resolve the crisis peacefully but warned that plans for military intervention had been worked out.
Niger’s military leaders have closed the country’s airspace after defying a deadline by the regional bloc Ecowas to hand back power to a civilian government or face possible armed intervention.
The army says it believes preparations to invade Niger had begun in two African countries but gave no evidence.
Niger’s generals appear to be taking the threat of invasion by West African states seriously.
A spokesman says any violation of the airspace would be met with an "energetic and immediate response.
Ecowas says it hopes to resolve the crisis peacefully but warned that plans for military intervention had been worked out.
France has suspended all development aid and budget support to Burkina Faso.
The announcement comes after the military government in Burkina Faso said it would regard any armed intervention against the coup leaders in neighbouring Niger as a declaration of war.
It comes as a deadline by the West African bloc Ecowas for the military coup leaders in Niger to restore constitutional order and reinstate ousted President Mohamed Bazoum lapsed on Sunday evening.
Ecowas is yet to make a statement on the next line of action which includes military intervention.
The grouping earlier stated that this would be a “last option” if all other political and diplomatic options fail.
France has suspended all development aid and budget support to Burkina Faso.
The announcement comes after the military government in Burkina Faso said it would regard any armed intervention against the coup leaders in neighbouring Niger as a declaration of war.
It comes as a deadline by the West African bloc Ecowas for the military coup leaders in Niger to restore constitutional order and reinstate ousted President Mohamed Bazoum lapsed on Sunday evening.
Ecowas is yet to make a statement on the next line of action which includes military intervention.
The grouping earlier stated that this would be a “last option” if all other political and diplomatic options fail.
France has suspended all development aid and budget support to Burkina Faso.
The announcement comes after the military government in Burkina Faso said it would regard any armed intervention against the coup leaders in neighbouring Niger as a declaration of war.
It comes as a deadline by the West African bloc Ecowas for the military coup leaders in Niger to restore constitutional order and reinstate ousted President Mohamed Bazoum lapsed on Sunday evening.
Ecowas is yet to make a statement on the next line of action which includes military intervention.
The grouping earlier stated that this would be a “last option” if all other political and diplomatic options fail.
France has suspended all development aid and budget support to Burkina Faso.
The announcement comes after the military government in Burkina Faso said it would regard any armed intervention against the coup leaders in neighbouring Niger as a declaration of war.
It comes as a deadline by the West African bloc Ecowas for the military coup leaders in Niger to restore constitutional order and reinstate ousted President Mohamed Bazoum lapsed on Sunday evening.
Ecowas is yet to make a statement on the next line of action which includes military intervention.
The grouping earlier stated that this would be a “last option” if all other political and diplomatic options fail.
France has suspended all development aid and budget support to Burkina Faso.
The announcement comes after the military government in Burkina Faso said it would regard any armed intervention against the coup leaders in neighbouring Niger as a declaration of war.
It comes as a deadline by the West African bloc Ecowas for the military coup leaders in Niger to restore constitutional order and reinstate ousted President Mohamed Bazoum lapsed on Sunday evening.
Ecowas is yet to make a statement on the next line of action which includes military intervention.
The grouping earlier stated that this would be a “last option” if all other political and diplomatic options fail.
France has suspended all development aid and budget support to Burkina Faso.
The announcement comes after the military government in Burkina Faso said it would regard any armed intervention against the coup leaders in neighbouring Niger as a declaration of war.
It comes as a deadline by the West African bloc Ecowas for the military coup leaders in Niger to restore constitutional order and reinstate ousted President Mohamed Bazoum lapsed on Sunday evening.
Ecowas is yet to make a statement on the next line of action which includes military intervention.
The grouping earlier stated that this would be a “last option” if all other political and diplomatic options fail.
The gains recorded in the stocks of Dangote Sugar Refinery Plc (25 per cent), Glaxo Smithkline Consumer Nigeria Plc (20.27 per cent) and Nigerian Breweries (16.44 per cent) drove the Nigerian Exchange Limited All-Share Index up by 0.22 per cent at the end of last week.
The All-Share Index rose to 65,198.08 from 65,056.39. Similarly, the year-to-date returns appreciated to 27.10 per cent.
All other indices finished higher except for NGX main board, NGX CG, NGX banking, NGX AFR bank value, NGX MERI growth, NGX MERI value and NGX oil and gas indices, which depreciated by 0.07 per cent, 0.06 per cent, 2.13 per cent, 1.85 per cent, 2.43 per cent, 0.78 per cent, and 0.68 per cent respectively. The NGX ASeM index closed flat.
The gains recorded in the stocks of Dangote Sugar Refinery Plc (25 per cent), Glaxo Smithkline Consumer Nigeria Plc (20.27 per cent) and Nigerian Breweries (16.44 per cent) drove the Nigerian Exchange Limited All-Share Index up by 0.22 per cent at the end of last week.
The All-Share Index rose to 65,198.08 from 65,056.39. Similarly, the year-to-date returns appreciated to 27.10 per cent.
All other indices finished higher except for NGX main board, NGX CG, NGX banking, NGX AFR bank value, NGX MERI growth, NGX MERI value and NGX oil and gas indices, which depreciated by 0.07 per cent, 0.06 per cent, 2.13 per cent, 1.85 per cent, 2.43 per cent, 0.78 per cent, and 0.68 per cent respectively. The NGX ASeM index closed flat.
The gains recorded in the stocks of Dangote Sugar Refinery Plc (25 per cent), Glaxo Smithkline Consumer Nigeria Plc (20.27 per cent) and Nigerian Breweries (16.44 per cent) drove the Nigerian Exchange Limited All-Share Index up by 0.22 per cent at the end of last week.
The All-Share Index rose to 65,198.08 from 65,056.39. Similarly, the year-to-date returns appreciated to 27.10 per cent.
All other indices finished higher except for NGX main board, NGX CG, NGX banking, NGX AFR bank value, NGX MERI growth, NGX MERI value and NGX oil and gas indices, which depreciated by 0.07 per cent, 0.06 per cent, 2.13 per cent, 1.85 per cent, 2.43 per cent, 0.78 per cent, and 0.68 per cent respectively. The NGX ASeM index closed flat.
The gains recorded in the stocks of Dangote Sugar Refinery Plc (25 per cent), Glaxo Smithkline Consumer Nigeria Plc (20.27 per cent) and Nigerian Breweries (16.44 per cent) drove the Nigerian Exchange Limited All-Share Index up by 0.22 per cent at the end of last week.
The All-Share Index rose to 65,198.08 from 65,056.39. Similarly, the year-to-date returns appreciated to 27.10 per cent.
All other indices finished higher except for NGX main board, NGX CG, NGX banking, NGX AFR bank value, NGX MERI growth, NGX MERI value and NGX oil and gas indices, which depreciated by 0.07 per cent, 0.06 per cent, 2.13 per cent, 1.85 per cent, 2.43 per cent, 0.78 per cent, and 0.68 per cent respectively. The NGX ASeM index closed flat.
The gains recorded in the stocks of Dangote Sugar Refinery Plc (25 per cent), Glaxo Smithkline Consumer Nigeria Plc (20.27 per cent) and Nigerian Breweries (16.44 per cent) drove the Nigerian Exchange Limited All-Share Index up by 0.22 per cent at the end of last week.
The All-Share Index rose to 65,198.08 from 65,056.39. Similarly, the year-to-date returns appreciated to 27.10 per cent.
All other indices finished higher except for NGX main board, NGX CG, NGX banking, NGX AFR bank value, NGX MERI growth, NGX MERI value and NGX oil and gas indices, which depreciated by 0.07 per cent, 0.06 per cent, 2.13 per cent, 1.85 per cent, 2.43 per cent, 0.78 per cent, and 0.68 per cent respectively. The NGX ASeM index closed flat.
The gains recorded in the stocks of Dangote Sugar Refinery Plc (25 per cent), Glaxo Smithkline Consumer Nigeria Plc (20.27 per cent) and Nigerian Breweries (16.44 per cent) drove the Nigerian Exchange Limited All-Share Index up by 0.22 per cent at the end of last week.
The All-Share Index rose to 65,198.08 from 65,056.39. Similarly, the year-to-date returns appreciated to 27.10 per cent.
All other indices finished higher except for NGX main board, NGX CG, NGX banking, NGX AFR bank value, NGX MERI growth, NGX MERI value and NGX oil and gas indices, which depreciated by 0.07 per cent, 0.06 per cent, 2.13 per cent, 1.85 per cent, 2.43 per cent, 0.78 per cent, and 0.68 per cent respectively. The NGX ASeM index closed flat.
Following an investigation into the tragic elevator crash that resulted in the death of Dr Diaso Vwaere at General Hospital Odan, the Lagos State Government has taken action.
The General Manager of the Lagos State Infrastructure and Asset Management Agency has been suspended and the facility managers responsible have been sacked and blacklisted.
The Ministry of Information and Strategy's Permanent Secretary, Olumide Sogunle, revealed that the state government has also restructured the operations and line of reporting for the facility managers, with direct involvement from the hospital management.
Following an investigation into the tragic elevator crash that resulted in the death of Dr Diaso Vwaere at General Hospital Odan, the Lagos State Government has taken action.
The General Manager of the Lagos State Infrastructure and Asset Management Agency has been suspended and the facility managers responsible have been sacked and blacklisted.
The Ministry of Information and Strategy's Permanent Secretary, Olumide Sogunle, revealed that the state government has also restructured the operations and line of reporting for the facility managers, with direct involvement from the hospital management.
Following an investigation into the tragic elevator crash that resulted in the death of Dr Diaso Vwaere at General Hospital Odan, the Lagos State Government has taken action.
The General Manager of the Lagos State Infrastructure and Asset Management Agency has been suspended and the facility managers responsible have been sacked and blacklisted.
The Ministry of Information and Strategy's Permanent Secretary, Olumide Sogunle, revealed that the state government has also restructured the operations and line of reporting for the facility managers, with direct involvement from the hospital management.
Following an investigation into the tragic elevator crash that resulted in the death of Dr Diaso Vwaere at General Hospital Odan, the Lagos State Government has taken action.
The General Manager of the Lagos State Infrastructure and Asset Management Agency has been suspended and the facility managers responsible have been sacked and blacklisted.
The Ministry of Information and Strategy's Permanent Secretary, Olumide Sogunle, revealed that the state government has also restructured the operations and line of reporting for the facility managers, with direct involvement from the hospital management.
Following an investigation into the tragic elevator crash that resulted in the death of Dr Diaso Vwaere at General Hospital Odan, the Lagos State Government has taken action.
The General Manager of the Lagos State Infrastructure and Asset Management Agency has been suspended and the facility managers responsible have been sacked and blacklisted.
The Ministry of Information and Strategy's Permanent Secretary, Olumide Sogunle, revealed that the state government has also restructured the operations and line of reporting for the facility managers, with direct involvement from the hospital management.
Following an investigation into the tragic elevator crash that resulted in the death of Dr Diaso Vwaere at General Hospital Odan, the Lagos State Government has taken action.
The General Manager of the Lagos State Infrastructure and Asset Management Agency has been suspended and the facility managers responsible have been sacked and blacklisted.
The Ministry of Information and Strategy's Permanent Secretary, Olumide Sogunle, revealed that the state government has also restructured the operations and line of reporting for the facility managers, with direct involvement from the hospital management.
The Kaduna State Government says it is working with the state legislature to enact a law that will provide for a six-month paid exclusive breastfeeding for working mothers in both private and public sectors.
The Nutrition Officer of the State Primary Healthcare Board, Mrs Ramatu Musa, stressed the importance of exclusive breastfeeding to tackle the scourge of malnutrition in children as well as reduce child mortality in the state.
Statistics from the Kaduna State Primary Healthcare Board show that only 41.1 per cent of children are exclusively breastfed. In contrast, only four out of ten children undergo exclusive breastfeeding for six months or more.
The Kaduna State Government says it is working with the state legislature to enact a law that will provide for a six-month paid exclusive breastfeeding for working mothers in both private and public sectors.
The Nutrition Officer of the State Primary Healthcare Board, Mrs Ramatu Musa, stressed the importance of exclusive breastfeeding to tackle the scourge of malnutrition in children as well as reduce child mortality in the state.
Statistics from the Kaduna State Primary Healthcare Board show that only 41.1 per cent of children are exclusively breastfed. In contrast, only four out of ten children undergo exclusive breastfeeding for six months or more.
The Kaduna State Government says it is working with the state legislature to enact a law that will provide for a six-month paid exclusive breastfeeding for working mothers in both private and public sectors.
The Nutrition Officer of the State Primary Healthcare Board, Mrs Ramatu Musa, stressed the importance of exclusive breastfeeding to tackle the scourge of malnutrition in children as well as reduce child mortality in the state.
Statistics from the Kaduna State Primary Healthcare Board show that only 41.1 per cent of children are exclusively breastfed. In contrast, only four out of ten children undergo exclusive breastfeeding for six months or more.
The Kaduna State Government says it is working with the state legislature to enact a law that will provide for a six-month paid exclusive breastfeeding for working mothers in both private and public sectors.
The Nutrition Officer of the State Primary Healthcare Board, Mrs Ramatu Musa, stressed the importance of exclusive breastfeeding to tackle the scourge of malnutrition in children as well as reduce child mortality in the state.
Statistics from the Kaduna State Primary Healthcare Board show that only 41.1 per cent of children are exclusively breastfed. In contrast, only four out of ten children undergo exclusive breastfeeding for six months or more.
The Kaduna State Government says it is working with the state legislature to enact a law that will provide for a six-month paid exclusive breastfeeding for working mothers in both private and public sectors.
The Nutrition Officer of the State Primary Healthcare Board, Mrs Ramatu Musa, stressed the importance of exclusive breastfeeding to tackle the scourge of malnutrition in children as well as reduce child mortality in the state.
Statistics from the Kaduna State Primary Healthcare Board show that only 41.1 per cent of children are exclusively breastfed. In contrast, only four out of ten children undergo exclusive breastfeeding for six months or more.
The Kaduna State Government says it is working with the state legislature to enact a law that will provide for a six-month paid exclusive breastfeeding for working mothers in both private and public sectors.
The Nutrition Officer of the State Primary Healthcare Board, Mrs Ramatu Musa, stressed the importance of exclusive breastfeeding to tackle the scourge of malnutrition in children as well as reduce child mortality in the state.
Statistics from the Kaduna State Primary Healthcare Board show that only 41.1 per cent of children are exclusively breastfed. In contrast, only four out of ten children undergo exclusive breastfeeding for six months or more.
Foreign Minister Lars Lokke Rasmussen says the Danish government will try to find legal means that will enable authorities to prevent the burning of copies of the Quran in front of other countries’ embassies in Denmark.
The burnings are deeply offensive and reckless acts committed by a few individuals. These few individuals do not represent the values the Danish society is built on
Denmark and Sweden have found themselves in the international spotlight in recent weeks following protests where the Quran, the Islamic holy book, has been damaged or burned.
Swedish Prime Minister Ulf Kristersson says he had been in close contact with his Danish counterpart Mette Frederiksen, and that a similar process was already under way in Sweden.
Foreign Minister Lars Lokke Rasmussen says the Danish government will try to find legal means that will enable authorities to prevent the burning of copies of the Quran in front of other countries’ embassies in Denmark.
The burnings are deeply offensive and reckless acts committed by a few individuals. These few individuals do not represent the values the Danish society is built on
Denmark and Sweden have found themselves in the international spotlight in recent weeks following protests where the Quran, the Islamic holy book, has been damaged or burned.
Swedish Prime Minister Ulf Kristersson says he had been in close contact with his Danish counterpart Mette Frederiksen, and that a similar process was already under way in Sweden.
Foreign Minister Lars Lokke Rasmussen says the Danish government will try to find legal means that will enable authorities to prevent the burning of copies of the Quran in front of other countries’ embassies in Denmark.
The burnings are deeply offensive and reckless acts committed by a few individuals. These few individuals do not represent the values the Danish society is built on
Denmark and Sweden have found themselves in the international spotlight in recent weeks following protests where the Quran, the Islamic holy book, has been damaged or burned.
Swedish Prime Minister Ulf Kristersson says he had been in close contact with his Danish counterpart Mette Frederiksen, and that a similar process was already under way in Sweden.
Foreign Minister Lars Lokke Rasmussen says the Danish government will try to find legal means that will enable authorities to prevent the burning of copies of the Quran in front of other countries’ embassies in Denmark.
The burnings are deeply offensive and reckless acts committed by a few individuals. These few individuals do not represent the values the Danish society is built on
Denmark and Sweden have found themselves in the international spotlight in recent weeks following protests where the Quran, the Islamic holy book, has been damaged or burned.
Swedish Prime Minister Ulf Kristersson says he had been in close contact with his Danish counterpart Mette Frederiksen, and that a similar process was already under way in Sweden.
Foreign Minister Lars Lokke Rasmussen says the Danish government will try to find legal means that will enable authorities to prevent the burning of copies of the Quran in front of other countries’ embassies in Denmark.
The burnings are deeply offensive and reckless acts committed by a few individuals. These few individuals do not represent the values the Danish society is built on
Denmark and Sweden have found themselves in the international spotlight in recent weeks following protests where the Quran, the Islamic holy book, has been damaged or burned.
Swedish Prime Minister Ulf Kristersson says he had been in close contact with his Danish counterpart Mette Frederiksen, and that a similar process was already under way in Sweden.
Foreign Minister Lars Lokke Rasmussen says the Danish government will try to find legal means that will enable authorities to prevent the burning of copies of the Quran in front of other countries’ embassies in Denmark.
The burnings are deeply offensive and reckless acts committed by a few individuals. These few individuals do not represent the values the Danish society is built on
Denmark and Sweden have found themselves in the international spotlight in recent weeks following protests where the Quran, the Islamic holy book, has been damaged or burned.
Swedish Prime Minister Ulf Kristersson says he had been in close contact with his Danish counterpart Mette Frederiksen, and that a similar process was already under way in Sweden.
The International Monetary Fund has retained its 2022 growth forecast for Nigeria at 2.7 per cent and increased the 2023 projection by 0.1 per cent to 2.7 per cent.
The IMF had in its October report last year projected a 2.7 per cent growth rate for 2022 and 2.6 per cent for 2023.
The IMF downgraded its growth forecast for sub-Saharan Africa to 3.7 per cent and 4.0 per cent for 2022 and 2023 respectively from 3.6 per cent and 3.9 per cent forecast in its October 2021 WEO report.
The IMF also reduced its forecast for global economic growth to 4.4 per cent in 2023, representing 0.5 percentage points lower than the 4.9 per cent projected in October.
The Minister of Finance, Budget and Economic Planning, Zainab Ahmed, says that the Federal Government had postponed the planned removal of subsidies on petroleum products till further notice.
The finance minister says the Federal Government initially had plans to remove subsidies on petroleum products from July this year.
She says that was the reason adequate provision was made in the 2022 national budget for subsidy payment till June.
She says the provision was made sequel to the passage of the Petroleum Industry Act which indicated that all petroleum products would be deregulated.
Chairman of the council, Samuel Nwanosike says that at least 112 illegal refineries have been discovered in Ikwerre Local Government Area of Rivers State.
He says that 99% of the discoveries were made in a particular community located along the OML 17 trunk lines.
Governor Nyesom Wike had pledged N460 million to the 23 local government area chairmen to fight oil bunkering in the state.
Each chairman will receive N20 million to destroy illegal refinery sites that have been identified in their respective domains.
Former Head of State Abdulsalami Abubakar raised concerns over the removal of fuel subsidies.
General Abdulsalami says the country is facing challenges on multiple fronts and a fuel subsidy removal will only compound the situation.
The Federal Government says it plans to discontinue the payment of fuel subsidy by June but the move has been rejected by several stakeholders, including the Nigeria Labour Congress.
General Abdulsalami says Nigeria now faces a food security crisis that is compounded by the COVID-19 global pandemic and the banditry in many states in Northern Nigeria.
The Senate President, Ahmed Lawan says that President Muhammadu Buhari has not directed anyone in his administration to implement the removal of petroleum subsidies.
The Senate President says that lawmakers are worried about the agitations and protests across the country on the matter, which prompted the discussion with the President.
Lawan further questioned the claim that Nigerians consume a hundred million litres of the Premium Motor Spirit daily.
The Senate President explained that while it is impossible to consume that much within the boundaries of the country alone, there is a need to critically investigate to discover the truth.
Governors of the Peoples Democratic Party have asked President Muhammadu Buhari to restructure Nigeria’s security architecture.
The governors noted that the strategies deployed to confront terrorists, kidnappers, bandits and other criminals is still a major problem for the current administration.
The governors want Mr President to reconsider his position and consider decentralisation and restructuring of the security architecture as the most viable solution, together with proper arming, funding and training requirements for security agencies.
The Federal Government has asked Saudi Arabia to lift the travel restrictions it imposed on Nigerian travellers following the outbreak of the omicron variant of the COVID-19 in South Africa that was later discovered among some travellers said to have visited Nigeria.
Ambassador Zubairu Dada, the Minister of State for Foreign Affairs, urged the Saudi Authorities to review the travel restrictions it placed on Nigerians over the Omicron outbreak as already done by many countries who have earlier banned Nigeria.
The Minister expressed optimism for a timely response to Nigeria’s request from Saudi Arabia.
Rivers State Governor Nyesom Wike inspected two illegal refining sites recently discovered in Ikwerre and Emohua local government areas by the council chairmen.
The Governor ordered the arrest of those sponsoring the operation of the illegal refineries in the state, some of whom are said to be prominent businessmen in the state.
Wike urged the police to go after the culprits and directed the State Attorney-General, Professor Zacchaeus Adangor to take over the files of those arrested far from the police for state prosection.
He also demanded the redeployment of a divisional police officer said to be involved in the illegal activities in Emohua local government area.
President Muhammadu Buhari has directed that the national flag be flown at half-mast, effective from the 12th to 14th of January, 2022, as a mark of respect for the former Head of State Ernest Adegunle Oladeinde Shonekan, who died on Tuesday, January 11.
Chief Ernest Shonekan, who headed the Interim National Government that succeeded the military regime of General Ibrahim Babangida, died on Tuesday at the age of 85.
He was the interim head of the Nigerian Government between August 26, 1993, and November 17, 1993, but was ousted in a coup led by late General Sani Abacha.
Greece has donated about one million doses of the Johnson and Johnson COVID-19 vaccine to Nigeria as the Federal Government moves to ensure more citizens are vaccinated against the disease.
A delegation from the European country led by its Minister of Foreign Affairs, Nikolaos Dendias, says Nigeria and Greece have enjoyed a favourable bond over the years and that his country was even willing to expand the relationship.
The Greek minister explained that such an expansion would culminate in the signing of Memoranda of Understanding on various issues affecting both countries.
Governor of Rivers State, Nyesom Wike, declared 19 individuals wanted for operating illegal crude oil refining sites which are responsible for the black soot menace in Rivers State.
The governor directed the Rivers State Head of Service to query Mr Temple Amakiri, a Director in the Ministry of Energy, for abetting bunkering activities and hand him over to the police for investigation and possible prosecution.
He assured the people of Rivers State that his government is determined to effectively tackle the soot menace by destroying and closing down all identified illegal crude oil refining sites and activities across the state.
President Muhammadu Buhari has pledged to assist Mali in every way possible within the ambits of the Economic Community of West African States.
The president made the promise when he received a special envoy from Mali’s Minister of Territorial Administration and Decentralization, Colonel Abdoulaye Maiga at the State House.
Buhari says that every country has its issues and even Nigeria had fought her own civil war, it is impossible to know the totality of the internal politics within Mali.
He also met with the head of the ECOWAS Mediation Team and former President of Nigeria, Goodluck Jonathan in a parley, at the statehouse.
The Lagos State Government has cleared five students and five employees of Dowen College accused of complicity in the death of 12-year-old Sylvester Oromoni.
The state cleared them as well as the school following the Legal Advice of the Director of Public Prosecution, DPP, Ms Adetutu Oshinusi.
The advice says the interim and final autopsy reports issued by the Lagos State University Teaching Hospital and toxicology report of post mortem samples and that of the Central Hospital, Warri was in agreement as to the cause of death namely: Septicaemia, Lobar Pneumonia with Acute Pyelonephritis, Pyomyositis of the right ankle and Acute Bacteria Pneumonia due to severe Sepsis.
Lagos State Governor, Babajide Sanwo-Olu has assured that the fourth quarter of 2022 completion time of the red and blue line rail projects in the State remains on course.
Governor Sanwo-Olu expressed satisfaction with the pace of work at the stations, noting that the contractors were on course and hoped that they would round up works on the Blue and Red line rails according to the schedule for commercial activities this year.
The Chairman, Senate Committee on Army, Senator Ali Ndume has asked the Federal Government to name and arrest those that finance terrorism in the country.
Ndume says he was prosecuted by the Federal Government for sponsoring Boko Haram.
He noted that his offence was because the Department of State Services tracked a phone and uncovered a call made by the spokesman of the insurgents.
He also criticised security agencies for not doing a proper investigation before subjecting him to public ridicule.
The Senior Special Assistant to the President, Garba Shehu, says President Muhammadu Buhari will not hamper the implementation of the 2022 budget despite the numerous changes made by the National Assembly.
The presidential spokesman dismissed reports of a crisis between his principal and the federal lawmakers.
He noted that while it is true that the President expressed disagreement with these and many of the other alterations, including the reduction in the provisions for many strategic capital projects to introduce Empowerment Projects, innumerable lies are being spread about the President being angry at, had blasted or lashed out at the Parliament.
Telecom consumers under the aegis of the National Association of Telecoms Subscribers have kicked against the plan by the Federal Government to introduce a suite of digital tokens to enhance the verification of the National Identity Number, effective January next year
The federal government says the digital tokens consisting of 16 alphabets and numbers will be accepted for third-party verification, instead of the 11-digit NIN.
The President, NATS, Adeolu Ogunbanjo, however, says the move was currently uncalled for, and shouldn’t be implemented without proper consultation with stakeholders.
The National Assembly has transmitted the 2022 Appropriation Bill to President Muhammadu Buhari for assent.
The House of Representatives and the Senate passed the Federal Governmentʼs budget on Tuesday and Wednesday last week, respectively, raising the total estimates from the proposed N16.391tn to N17.126tn. The oil benchmark was raised from the proposed $57 per barrel to $62.
President of the Senate, Ahmad Lawan, had said the budget would be transmitted to Buhari by Thursday.
The National Assembly had with the 2022 budget returned the country to a January-December budget cycle.
Buhari had signed the 2021 Appropriation Bill into law on January 1, 2021, while itʼs life cycle was expected to expire on December 31, but for the recent extension of the lifespan of its capital component three months by the National Assembly.
The President is expected to assent to the money bill by Saturday.
The Federal Executive Council meeting has approved N65.39bn in foreign and local denominations to execute power projects in the country.
The Minister of Power, Abubakar Aliyu, says the extraordinary session was to ensure the country begins 2022 on a clean slate in the area of electricity supply.
Aliyu says the Buhari regime had done more than its predecessors to ensure that Nigerians experience improved electric power supply.
President Muhammadu has declined assent to the Electoral Act Amendment Bill over the direct primaries clause.
President Buhari in a letter sent to the National Assembly cited several issues with the clause.
The President explained that direct primaries are expensive. Adding that it will put a financial burden on the country’s resources.
He further noted that conducting direct primary elections will be tasking, explaining that since such mode of election means a large turnout of voters, the move would stretch the security agencies.
The Nigerian leader equally fears that with direct primaries, citizens’ rights will be violated while smaller political parties may face marginalisation.
The Nigerian Electricity Regulatory Commission says that three neighbouring countries did not make any payment for the second quarter of 2021.
The NERC revealed that Togo, Benin Republic, and Niger and some other special customers were issued a total bill of N770m by the Nigerian Bulk Electricity Trading company and the Market Operator of the Transmission Company of Nigeria.
The report however stated that no payment was made, adding that it is hoped the outstanding will still be paid when things begin to look up for those economies, as the pandemic played a great role in the non-remittance experienced.
The Commission further stated that it has through the applicable orders set a minimum remittance threshold for each Disco having adjusted for their tariff shortfall.
The Minister of Transportation, Rotimi Amaechi, says that the Abuja-Kaduna train service generates at least three hundred million nairas for the country every month.
Amaechi says his ministry is beginning to contribute to the nation’s economic growth.
He disclosed that the government is planning to put about 16 trains on the Lagos-Ibadan rail line, stressing that this will increase revenue generation from that axis.
The minister says the country is capable of meeting its loan requirements.
Statistics from the Nigeria Centre for Disease Control revealed that the number of confirmed COVID-19 cases in Nigeria increased to 220,020 with 1,424 additional cases confirmed on Wednesday.
The NCDC says that the new infections were recorded from 15 states in the country.
The number of confirmed cases of the virus in the country currently stands at 220, 020 cases while 211,292 cases have been discharged and 2,983 deaths have been recorded in 36 states and the Federal Capital Territory
The UK government has removed Nigeria and 10 other countries from a red list in the wake of the new Omicron variant of the COVID-19.
The red list was reintroduced in late November as a precaution after the emergence of the Omicron variant.
The ministers however have cited the further spread of the variant as a reason for reviewing travel rules.
All UK arrivals from red list countries must take COVID tests within 48 hours of setting off for the UK and PCR tests within two days of their arrival.
Lack of sufficient energy supply is a major hindrance to the industrialization of Africa, to plug the energy deficit, Africa must look at a mix of sources. Catch Viviana Garcia from @trinasolarglobal as she unpacks how Africa can unleash its Potential of Solar Energy.
Vice President Yemi Osinbajo on Saturday expressed optimism that young Nigerian graduates can provide solutions to the biggest challenges confronting the nation.
The Vice President says while young Nigerians, particularly the OAU graduands, stood on the shoulders of great men and women before them, the onus is on their generation to “deal with the biggest issues that confront the world, and our nation.
Lagos Waste Management Authority has commended some markets and business facilities in the state, for supporting its drive to sustain effective waste management across the state, by ensuring their business transactions were carried out in a hygienic environment.
The Managing Director/CEO of LAWMA, Mr Ibrahim Odumboni, eulogised the markets, particularly, Tejuosho Market, Alaba International Market, Ayangburen Market, Sabo Ikorodu; Agege Main Market, Elemoro Market, Bodije; for setting the standard for other markets to emulate, regarding environmental hygiene around their facilities.
Odumboni stated that the task of keeping the city clean was a collective responsibility, where different stakeholders, including markets, were expected to play their parts, by making sure that indiscriminate and reckless disposal of waste, was totally eradicated.
The LAWMA boss called on traders at Mushin Main Market, Jakande Market, Ajah; Irepodun Market, Oko Oba; Ayetoro Market, Epe, and Alaba Arago, to redouble their efforts at restoring cleanliness to their markets, which in recent times had experienced the upsurge of indiscriminate waste disposal, warning that the Authority would not hesitate to shut down markets caught flouting the state’s environmental laws.
The Minister of Information and Culture, Lai Mohammed, has condemned the red listing of Nigeria by the UK government over the two cases of the omicron variant of COVID-19.
Mr Mohammed described the decision as unjust and discriminatory.
The minister has, however, called on the UK government to rescind their decision immediately.
He also discussed the way forward and the upscale of the current responses to the pandemic including ongoing mass vaccination, surveillance and screening at the various points of entry.
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The Nigerian National Petroleum Company Limited has put the amount spent on subsidising petrol, between January and October 2021, at N1.03tn.
The NNPC says it would deduct its October 2021 value shortfall of N199bn from its November 2021 proceeds meant for sharing at the December 2021 Federation Accounts Allocation Committee meeting.
The oil firm referred to its subsidy spending as under-recovery, as it had repeatedly stated that it had no authorisation by the National Assembly to pay subsidy.
The Minister of Health, Dr Osagie Ehanire, has expressed disappointment over the United Kingdom government’s placement of Nigeria on its red list following the detection of the COVID-19 Omicron variant.
The minister says, there are many ways to manage the COVID-19 and not much is still known about the Omicron variant.
He says the move was ill-advised as he noted that it would have multiple impacts on commerce, and disrupt activities during the Christmas and New Year festivities.
Speaker Femi Gbajabiamila has reiterated the determination of the House of Representatives to support the development of education in Nigeria.
Gbajabiamila noted that education ranked topmost on the Legislative Agenda of the 9th House of Representatives because it remained the foundation of development in any society.
He says education is the foundation of civilisation and development and many members are trying to get tertiary institutions to their locality.
He added that Education remains the priority and everything will be done to bring it to fruition.
The Nigerian government has reassured the Republic of South Africa that it will continue to strengthen bilateral ties and work together to promote Africa’s development.
Minister of Foreign Affairs, Geoffrey Onyeama says both countries have common interests which must be used to move Africa forward.
He says the people of Southern Africa and West Africa are indeed brothers although separated by the distance they have the same outlook and aspiration.
He is confident that the conclusion and the implementation of these agreements would cause a significant improvement in relations between the peoples of our two great countries.
Vice President Yemi Osinbajo says that the public sector is critical for national development, very vital for governance, and quality public service delivery.
Prof. Osinbajo noted at the secretariat that the commissioning was historic because the seat of the civil service of any arm of government anywhere in the world is usually one of the major monuments enshrining not just the power, but also the splendour of the authority of government.
He says the imposing complex clearly meets this requirement and in due course, such buildings become historical monuments.
The Nigeria Centre for Disease Control says it was monitoring emerging evidence on the new COVID-19 variant, Omicron, which was first recently identified in Southern Africa.
The NCDC in a statement signed by its Director-General, Dr Ifedayo Adetifa, said the fears about its ability to evade protective immune responses and/or its being vaccine-resistant are only theoretical so far.
The NCDC urged Nigerians to take necessary precautions while noting that the WHO and researchers across the world are working at speed to gain an understanding of the likely impact of this variant on the severity of COVID-19 and on the potency of existing vaccines and therapeutics.
The Vice President, Professor Yemi Osinbajo, believes Nigeria is on the right path to economic diversification focusing on non-oil exports, with the zero-oil plan actively promoted by the Nigerian Export Promotion Council (NEPC).
The Vice President commended the outgoing NEPC chief for his foresight, and for putting in place a well-structured and detailed plan.
He says it is important to note that Nigeria is certainly getting away from the oil and gas era.
President Muhammadu Buhari has suspended the inauguration of the newly constituted Board of the Nigerian National Petroleum Company Limited.
The Secretary to the Government of the Federation, Mr Boss Mustapha, revealed that the inauguration of the Board, initially scheduled to hold on Wednesday, was suspended indefinitely.
Mustapha says President Muhammadu Buhari has directed the immediate suspension of the inauguration of the newly constituted Board of the Nigerian National Petroleum Company Limited scheduled for Wednesday 24th November 2021 until further notice.
He says a new date for the inauguration of the Board will be announced in due course.
The Independent National Electoral Commission and civil society organisations called on President Muhammadu Buhari to sign the Electoral Act Amendment Bill.
The Executive Director, Policy and Legal Advocacy Centre, Clement Nwankwo, asked Buhari to use the weekly Federal Executive Council meeting to sign the bill while the INEC National Commissioner, Festus Okoye said assent will help improve its preparations for future polls.
Nwankwo says it is expedient for the electoral act amendment bill to be signed for the overall benefit of Nigerians.
A chieftain of the People's Democratic Party, Senator Shehu Sani says Nigerian politicians fear western sanctions more than the local laws.
He says the Nigerian political class fear foreign sanctions more than the laws of the land because they believe that as long as they belong to the circle of power, they can do anything and get away with it.
He added that they have had cases of people engaging in all sorts of violence during elections and they go scout free.
The Minority Caucus in the House of Representatives says it has reviewed the Lagos EndSARS report and observed that the Federal Government has questions to answer.
The lawmakers in a statement said the report has confirmed that there was indeed a massacre at Lekki Toll Gate on October 20, 2020, despite the earlier denial of killings.
The Minority caucus also flayed the Minister of Information and Culture, Alhaji Lai Mohammed for rushing to the media, ahead of the judicial panel, to insist that there were no killings at Lekki Tollgate, even in the face of testimonies of witnesses at the sad event.
They described it as a shocking attempt to cover up details of the October 20 event demanding that justice be served.
The Federal Government has revealed plans to boost the digital economy with a $600m Innovation Fund from the African Development Bank.
Vice President Yemi Osinbajo says that they have a $600million Innovation Fund with the African Development Bank which they hope will really energize the industry
Osinbajo identified the digital economy as an area that is “big for us and the next couple of years, and we are focusing on it.”
He says the government’s strategy is to enhance productivity by focusing on value addition as the guiding principle for all sectors, especially agriculture, manufacturing, solid minerals, digital services, tourism, hospitality, and entertainment.
The World Bank has stated that the destruction caused by the Boko Haram sect caused economic activities in the north-eastern part of the country to decline by 50 per cent.
The Bank noted that Adamawa, Borno and Yobe states which are in the Lake Chad region saw economic activities decline from 10 to 14 per cent between 2009 and 2013, adding that the region has recorded a 50 per cent decline in activities from 2018.
Lead Economist, World Bank and co-author of the report, Mr Marco Hernandez says Boko Haram is not just on those places where insurgency happens, it also affects neighbouring parts for where the actual attack happens as well.
The bank called for enhanced trade, improved infrastructure to move people goods and services, improved governance and management of natural resources.
The country’s military authorities declared that the armed forces remained loyal to the constitution and President Muhammadu Buhari and had no plans to overthrow his administration.
The military says it did not require that caution because the loyalty of the officers and men to the constitution and the president was never in doubt.
The killing of the Commander, 28 Task Force Brigade, Chibok, Brigadier-General Dzarma Zirkushi, and three soldiers in an ambush in Uba-Askira, Borno State, weekend, also triggered an aggressive response by the military, as troops battled and battered the terrorists, killing 37 of them.
President Muhammadu Buhari urged world leaders and global health institutions to follow a regime of enabling access to the COVID-19 vaccines, admonishing that sidelining countries in terms of reach will undermine the entire effort for safety.
President Buhari says export restrictions that encourage needless hoarding of vaccines need to be lifted while welcoming the pledges by industrialized countries to share vaccines.
The President says the pledges should be fulfilled in a timely manner, appreciating some countries, like France, that have donated vaccines to developing countries.
The Nigeria Governors’ Forum says the Honourable Attorney-General of the Federation, Abubakar Malami, was working against the public’s interest by insisting on the payment of $418 million to private consultants from the accounts of state governments.
The consultants are claiming a percentage of Paris Club refunds as payment of services they said they rendered to the states and local government.
The spokesman of the Office of the Attorney-General of the Federation, Umar Gwandu, says the AGF suggested the states and local governments had acted in bad faith for taking the case to court.
The NGF, says the AGF’s actions raise questions of propriety and the spirit of justice.
The Independent National Electoral Commission has suspended the collation of results for the Anambra State governorship election.
INEC’s Chief Returning Officer for the election, Professor Florence Obi, says they have collated results from 20 out of 21 local government areas.
Professor Obi says a declaration would only be made after a supplementary election was conducted in the remaining local government – Ihiala.
The House of Representatives ad hoc committee set up to investigate the current state and use of the Federal Government’s property and assets has asked the Nigerian National Petroleum Corporation and its subsidiaries to provide a list of Federal Government’s assets under their control.
The committee says oil depots, pipelines, rigs and other facilities, which could have generated revenues for the government and reduced borrowing and budget deficit, had been abandoned in various parts of the country.
The Chairman of the committee, Ademorin Kuye, says all assets in the custody of MDAs; assets that are being trespassed and encroached; assets that are just wasting away could be converted to revenue for the Federal Government for the development of the country.
The Chief of Defence Staff, General Lucky Irabor, says there is a greater need for stronger collaboration in the armed forces, in order to effectively deal with contemporary security challenges in the country.
The defence chief says several ongoing military operations across the country, require collaboration between the army, navy, air force and the police to succeed.
He says these operations are either targeted at combating security threats posed by proscribed groups, or other organized criminal groups who kidnap, kill or attack public infrastructure across the country.
President Muhammadu Buhari on Sunday departed Abuja for Glasgow in Scotland where he will be attending the 26th Conference of Parties to the United Nations Framework Convention on Climate Change.
The President is scheduled to deliver his national statement at the High-Level Segment for Heads of State and Government at the conference on Tuesday, November 2.
President Buhari’s address is expected to highlight Nigeria’s key priorities and action to tackle climate change as well as progress on the country’s transition to a low carbon economy, consistent with achieving the Paris Climate Agreement.
Reserve Bank Of Zimbabwe has banned bulk airtime sales, ordering telecommunications service providers to stagger the reduction of physical airtime sales to 10% in a bid to contain illicit foreign currency dealings.
The Financial Intelligence Unit director-general, Oliver Chiperesa ordered the companies to control the production and sale of airtime.
The FIU says bulk airtime recharge vouchers are being abused by airtime dealers to facilitate illegal foreign currency trading and money laundering.
The unit says airtime dealers have been purchasing airtime vouchers in bulk from mobile telecommunication service providers using local currency and then disposing of the same at discounted foreign currency prices.
President Muhammadu Buhari says Nigeria’s new digital currency, eNaira, will increase the country’s Gross Domestic Product by $29 billion over the next 10 years.
The President says the launch of eNaira makes Nigeria the first country in Africa and one of the first few countries globally to introduce a digital currency.
The new payment system is expected to drive financial inclusion, serve as a backbone for electronic payment in Nigeria and also enable the movement of more people from the informal to the formal sector, hence scaling up the tax base of the country.
President Muhammadu Buhari has launched the country’s digital currency, naira.
President Buhari says the adoption of new CBN digital currency is estimated to increase Nigeria’s GDP by $29billion over the next 10years.
The President says Nigeria becomes the first country in Africa and one of the first few globally to introduce a digital currency to its citizens after countries like China, Bahamas, and Cambodia.
The digital currency has two applications – eNaira speed wallet and eNaira merchant wallet, which were launched on the Google Playstore and Apple Store.
The Federal Government has disbursed no fewer than N38 billion in loans to support Small and Medium Scale Enterprises over the past four years.
Vice President, Professor Yemi Osinbajo, lamented that the global COVID-19 pandemic has led to a sharp drop in income of most families in the country, as well as economies of the world.
Osinbajo also noted that employment has taken a dive, especially as the pandemic largely affected young people who make up the majority of the workforce.
He says the Federal Government has ensured that its social and entrepreneurial programmes have an affirmative component for the female folks.
The Lagos State Police Command says it will only allow indoor and virtual events.
The State Commissioner of Police, Hakeem Odumosu, says the police would not allow any form of protest except vehicular procession.
The police commissioner cautioned residents, especially the youth against embarking on any form of protest without the approval of the police.
Odumosu explained that such approval will enable police deployment for adequate protection against hoodlums who could hijack the exercise.
He explained that the need to reassure Lagos residents is to douse the tension that has enveloped the state of recent.
The Federal Government has filed an amended seven-count against the detained leader of the proscribed Indigenous People of Biafra, Nnamdi Kanu.
The lawmaker representing Anambra North senatorial district in the National Assembly, Senator Ifeanyi Uba, has filed a suit at the Federal High Court in Abuja.
The lawmaker is seeking an order to be allowed to visit Kanu who is in the custody of the Department of State Services (DSS).
The lawmaker stated that there has been serious agitation aimed at pressing home his release and this has degenerated into a proclamation of sit-at-home orders in the region, a situation which he said was crippling the economy of the South East.
Socio-Economic Rights and Accountability Project has filed a lawsuit against President Muhammadu Buhari.
The group is asking the court to declare illegal and unconstitutional the plan by the administration to track, intercept and monitor WhatsApp messages, phone calls, and text messages of Nigerians and other people, as it severely threatens and violates the right to the preservation of privacy.”
SERAP is seeking a declaration that any monitoring of WhatsApp messages, phone calls and text messages is oppressive and draconian, as it threatens and violates sections 37 and 39 of the Nigerian Constitution 1999 as amended.
Vice President Yemi Osinbajo tasked states to think out of the box in raising their respective Internally Generated Revenues.
He says by thinking differently there is a need for a sub-national to think like a sovereign State.
He says there is a different mindset when they are sure of a monthly allocation of cash at least enough to pay salaries, whether they generate income or not.
Nigerian Lawmakers gave the Independent National Electoral Commission the sole power to determine the mode of transmission of results.
The Senate resolved that voting at an election and transmission of results under this Bill shall be in accordance with the procedure determined by the Commission, which may include electronic voting.
Majority Leader, Yahaya Abdullahi, say after a critical examination of the Bill by the Senate Committee on INEC, some fundamental issues were observed which required fresh legislative action.
President Muhammadu Buhari officially unveiled a digital Performance Management System that would help track government projects across the country in real-time.
The president says the dashboard will keep an eye on projects using live data.
President Buhari says the PMS has been in effect since January 2021 and has helped him to monitor the performance of ministries and by extension, monitor the progress of his administration.
The president disclosed that it was in the continued drive to ensure accountability that his government incorporated a performance management framework into the functions of the Central Delivery Coordination Unit.
136 members of the Organisation for Economic Cooperation and Development and G-20 Nations at the weekend agreed to a 15 per cent corporate tax rate effective from 2023, though Nigeria withheld its assent.
The signatories officially entered into the agreement on Friday under the OECD/G20 Inclusive Framework on Base erosion and profit shifting, leaving Nigeria, Kenya, Pakistan, and Sri Lanka.
The signatories in their says the agreed to ensure that the MNEs pay a fair share of tax wherever they operate and generate profits.
The statement said major reform of the international tax system would ensure that Multinational Enterprises would be subject to a minimum 15 per cent tax rate from 2023.
President Muhammadu Buhari proposed a total budget of N16.39 trillion for the year 2022 to the National Assembly.
The President says the budget will focus on diversifying the economy, with robust MSME growth; investing in critical infrastructure; strengthening security and ensuring good governance; enabling a vibrant, educated and healthy populace; reducing poverty; and minimizing regional, economic and social disparities.
He also noted that the 2022 budget is the first time in Nigerian history where MDAs were clearly advised on gender-responsive budgeting.
The Senate President, Ahmed Lawan, says the National Assembly is committed to passing the budget before the end of the year.
President Muhammadu Buhari will present the 2022 budget estimate to a joint session of the National Assembly on Thursday.
The Deputy President of the Senate, Ovie Omo-Agege made the announcement while presiding over the plenary as the Senate President, Ahmad Lawan, was absent.
Lagos State Government has demanded a new revenue sharing formula that is fair, equitable and reflects the contribution of stakeholders to the common purse.
Governor Babajide Sanwo-Olu says the state also wanted a revenue formula that enhances the capacity to deliver high-quality services and dividends of democracy to Nigerians.
He says Lagos is more than just another state in the Nigerian federation as there is no tribe in the country that has no significant stake in the state.
The governor also appealed to all stakeholders to approach the review process with open minds.
The Socio-Economic Rights and Accountability Project has urged President Muhammadu Buhari to urgently withdraw the impermissible conditions imposed on Twitter pending the final determination of the suit at the ECOWAS Court of Justice in Abuja challenging the legality of suspending the microblogging platform.
The Deputy Director, SERAP, Kolawole Oluwadare, urged the president to withdraw the clauses in a bid to allow the court to render a decision on the central issues in the case, and protect the plaintiffs’ rights and interests.
The address also seems to suggest that even when the suspension is lifted, Nigerians will only be allowed to use Twitter for business and positive engagements.
The Nigerian Navy has called for concerted efforts to end the proliferation of small and medium arms in Nigeria.
The Director of Legal Services, Nigerian Navy, Commodore Jemila Malafa, says Chadian soldiers sell guns for as low as $20 and this endangers Nigeria’s security.
She says the developed countries in the name of assisting them fight are compounding the problems in Nigeria.
She says they should either enact laws to govern the handling of these arms and ammunition or build an armoury for these countries.
Governors of the 19 states in the North have opposed the call by their southern counterparts that the Presidency should be zoned to the South in 2023.
Chairman of the Forum and Governor of Plateau State, Simon Lalong, says zoning the office of the President as being agitated by southern governors is against the provisions of the 1999 Constitution, as amended.
They stated that any president elected must meet the constitutional requirements which include scoring the majority votes, and polling at least 25 per cent of the votes cast in two-thirds of the 36 states of the Federation.
Governor Lalong noted that although some northern governors had endorsed power shift to the South, the regional governors collectively condemned such calls.
The minority caucus in the House of Representatives has faulted President Muhammadu Buhari’s recent speech at the United Nations General Assembly, claiming Boko Haram terrorists were emboldened under his watch.
Minority Leader of the House of Representatives, Ndudi Elumelu, says the caucus had extensively reviewed the President’s address at the 76th session of the UNGA, noting that it is incomplete disagreement with the ugly reality of the failures of his administration, as well as the economic, security and social ruins that have confronted the nation under his watch.
The opposition lawmakers argue that Buhari did not reflect the closure of schools and crippling of education in some parts of the country neither did it show any empathy towards the victims of terrorism attacks.
The Federal Government says it is making efforts to get justice in the case involving Yoruba nation agitator, Sunday Adeyemo.
Minister of Justice and Attorney-General of the Federation, Abubakar Malami,
they are doing the needful in terms of looking at the law as it exists, and then working within the context of the law in ensuring that justice is done as far as the contending issues between the parties are concerned,” States.
Igboho’s lawyer, Yomi Alliyu, argued that the action of the security outfit was a violation of Igboho’s fundamental right to peacefully own property and wealth.
A new report has revealed that at least 20 per cent of the full-time workforce in Nigeria lost employment during the COVID-19 pandemic in 2020,
The report by the United Nations Development Programme and the National Bureau of Statistics assesses the impact of COVID-19 on business enterprises in the country.
It says while there have been promising signs of recovery this year, COVID-19 has had an outsized socio-economic impact on Nigeria.
Lagos State Governor, Babajide Sanwo-Olu has signed the bill prohibiting open grazing in Lagos into law.
The governor assented to the bill at the Lagos House on Monday.
The Speaker, Mudashiru Obasa commended his colleagues for their passion to see that the state continues to grow.
The Chairman of the Southern Governors Forum, Rotimi Akeredolu, says the governors agreed on a deadline for the promulgation of anti-open grazing law among its member states.
Shell-funded impact investment company All On announced a $2m investment in a fintech company, Infibranches Technologies Limited to help bridge the energy distribution gap in underserved rural and peri-urban areas of Nigeria.
CEO Infibranches Olusola Owoyemi, say he is enthusiastic about the potential of this deal to fill the gap by connecting consumers and service providers seamlessly, illustrating the interconnected nature of financial inclusion and poverty reduction.
He noted that Infibranches plans to speed up customer acquisition in its current markets and introduce new products and services to address energy distribution issues.
Governors from the southern region of Nigeria have declared their support for the collection of Value Added Tax by state governments, in place of the Federal Inland Revenue Service.
Chairman of the Forum and Ondo State Governor, Oluwarotimi Akeredolu, made the position of the governors known in a communique issued at the end of the meeting.
He says the meeting resolved to support the position that the collection of VAT falls within the powers of the states.
The governors reaffirmed their commitment to fiscal federalism and stressed the need for the southern states to pursue their inclusion in the Nigerian Constitution, through the ongoing constitutional amendment.
President Muhammadu Buhari has written to the National Assembly, seeking approval to borrow the sum of $4,054,476,863 and €710 million.
President Buhari explained that owing to emerging needs there is a need to raise more funds for some critical projects.
He says the projects listed in the addendum to the 2018-2021 Federal Government External Borrowing Plan, are to be financed through sovereign loans from the World Bank, French Development Agency, China-Exim Bank, International Fund For Agriculture Development, Credit Suisse Group and Standard Chartered/China Export and Credit in the total sum of USD4 billion plus Euro 710 million grant component of USD 125,000,000.00.
A former vice presidential candidate of the People’s Democratic Party, Peter Obi says Nigerians are getting poorer because the government is borrowing for the wrong reasons.
Mr Obi argued that while it is not a crime to borrow money, the funds must be used solely for productions that enhance the lives of the citizens and enrich the economy.
He says the nation’s Gross Domestic Product cannot be growing while the people are getting poorer.
He believes the growth Nigeria needs is one that pulls people out of poverty by making the people have disposable income and be able to feed themselves.
The Socio-Economic Rights and Accountability Project has urged President Muhammadu Buhari to direct the Minister of Communication and Digital Economy, Isa Pantami, and the Nigerian Communications Commission to immediately reverse the apparently unjustified suspension of internet and telecommunication networks in Zamfara State and 13 local government areas of Katsina State.
The SERAP says the move is without any legal justification, is inconsistent with the principles of necessity and proportionality. A suspension is a form of collective punishment of Nigerians resident in these states.
SERAP says the development is egregious and suggests a disturbing trend, especially given the growing restriction of civic space in Nigeria.
The Lagos State House of Assembly has passed the Value Added Tax bill, along with a bill that prohibits the open grazing of cattle in the state.
The two bills were passed after unanimous votes by the lawmakers during Thursday’s plenary after they were read for the third time.
The Speaker of the House, Mudashiru Obasa, commended his colleagues for their passion to see that the state continues to grow.
Obasa also directed the Acting Clerk of the House, Mr Olalekan Onafeko, to transmit clean copies of the bills to the state governor, Babajide Sanwo-Olu, for assent.
President Muhammadu Buhari has directed security chiefs to find tactics to solve the security challenges in the country, particularly in the North-West and North Central.
He reiterated the urgent need to deal with the bandits, who according to the security chiefs, are becoming a nuisance, killing and making reckless pronouncements to solicit attention.
The Minister of Defense, General Bashir Magashi, told State House correspondents after the meeting that the government reviewed the situation in the country and concluded that it can resolve the security challenges, especially in Zamfara State and the North Central, which was of huge concern at the meeting, but with the cooperation of Nigerians.
President Muhammadu Buhari has approved the setting up of a Health Sector Reform Committee to commence the development and implementation of a Health Sector Reform Programme for Nigeria in collaboration with the State Governments and the FCT administration.
A statement issued by presidential spokesman, Garba Shehu, says the setting up of the Committee is a sequel to a Health Sector Diagnostic Review Report developed by a consultant, Vesta Healthcare Partners and the Federal Ministry of Health.
The committee will undertake a review of all healthcare reforms adopted in the past two decades and lessons learnt and factor them into the development of the new Health Sector Reform Programme.
The federal government has expressed its readiness to withdraw the suit it instituted at the National Industrial Court against the striking Resident Doctors if the doctors return to their duty post.
It also insisted on implementing the ‘no work, no pay policy against the striking doctors, saying it is a global practice which is also captured in Section 43 of the Trade Dispute Act under the International Labour Organisation.
The Minister of Labour and Employment, Senator Chris Ngige says the 12-point demands of the Nigerian Association of Resident Doctors have been met.
He, however, noted that the government would not be arm-twisted by the striking doctors not to follow the global standard.
The Federal Government says it allocated N6trn to the Niger Delta Development Commission between 2001 and 2019.
Minister of Justice and Attorney General of the Federation, Abubakar Malami says It is on record that between 2001 and 2019, the Federal Government allocated the total sum of approximately N6 trillion to the Niger Delta Development Commission.
He says the figure is an indication that the Federal Government has allocated a good amount of funds to the development of Nigeria’s oil-bearing region.
He, however, expressed concern over uncompleted and some unverified projects in the Niger Delta despite the allocations.
The Central Bank of Nigeria has directed all banks in the country to publish the names and Bank Verification Number of defaulters of its forex policy.
The defaulters of the policy are those using fake visas and cancelling air tickets after purchase of Personal Travel Allowance and Business Travel Allowance.
The Director of the Banking Supervision Department, says Haruna Mustafa explained that this practice will affect the integrity and stability of the forex market.
He says the CBN has received and noted with concern reports of sharp practises by some unscrupulous customers to circumvent the new CBN policy on the sale of forex for overseas personal and business travel.
Vice President Yemi Osinbajo has called on leaders to make sacrifices in order to deal with tensions among people of different faiths and ethnicities in the country.
He stated that there is no way that they can deal with the tensions between the faiths and ethnicities in Nigeria today unless those in leadership are prepared to make some important sacrifices.
Osinbajo says those sacrifices are in what they say, how they say it, and then sacrifices also in the acknowledgement of whatever people are saying and the willingness to accept.
Osinbajo also called for interfaith dialogue, emphasizing the importance of language and communication to prevent violence.
The Ministry of Labour and Employment has rejected the 21-day ultimatum given to the Federal Government by the Nigeria Medical Association saying it is in direct collision with the Memorandum of Understanding signed on August 21.
The NMA had threatened to join the ongoing strike by the Nigerian Association of Resident Doctors if the government failed to resolve all the issues contained in the various agreements signed with its affiliate unions.
The government argued that the NMA’s position was at variance with the timeline stated in the Memorandum of Agreement.
The Africa director of the World Health Organization says COVID-19 vaccinations in Africa have tripled during the past week, though protecting even 10 per cent of the continent by the end of September remains a very daunting task.
Matshidiso Moeti told reporters that this is a preventable tragedy if African countries can get fair access to vaccines.
The WHO Africa director says 13 million doses were administered in the past week, three times more than the number of shots given in the previous week as donations of doses increased from developed countries.
Information and Culture Minister Lai Mohammed says President Muhammadu Buhari will inaugurate the Lagos-Ibadan Standard Gauge project on June 10.
Mohammed told reporters at the Wole Soyinka Railway Station in Abeokuta that the inspection was meant to ensure that everything is in place ahead of the ceremony. Twenty-six container and cargo ships have arrived at Damietta Port over the past 24 hours.
The Damietta Port Authority says the total trade volume of exported goods handled at the port reached 27,420 tons. It added that the total trade volume of imported goods was 29,788 tons, 178,322 tons of grains are in the silos of the port, while wheat reserves in private warehouses reached 68,625 tons.
The agreement that establishes the African Continental Free trade agreement was adopted by the member states of the African Union in March 2018 and the date of the last signatory was in October 2019
It is a flagship project of the African Union’s Agenda 2063, a blueprint for attaining inclusive and sustainable development across the continent over the next 50 years.
54 African countries merging into a single market of 1.3 billion people, this agreement creates the largest trade bloc in the world with regards to the number of countries with a combined GDP of $3.4 trillion. It is described as a vehicle for the economic transformation of Africa.
The AfCFTA with the objective to Accelerating intra-African trade and boosting Africa’s trading position in the global market by strengthening Africa’s common voice and policy space in global trade negotiations.
As this agreement became officially operational on January 1st, 2021, Wilson Erumebor, a Senior Economist at the Nigerian Economic Summit Group is here with me and we will be chatting about what this means for Nigerian Businesses.
Australia’s parliament on Thursday passed legislation giving the federal government power to veto any agreement struck with foreign states, a move likely to anger China and intensify a bitter diplomatic spat between the two countries.
The law allows the Commonwealth to block any agreement between Australian states, councils or institutions and a foreign government, such as a controversial 2018 deal between the state of Victoria and China.
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U.S. President Donald Trump’s administration on Wednesday issued new rules to restrict travel by Chinese Communist Party members’ and their families’ to the United States, the New York Times newspaper reported on Thursday.
The new policy limited the maximum validity of travel visas for party members and their families to one month and a single entry.
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Twitter on Wednesday said it was expanding its definition of hateful content to ban language which dehumanizes people on the basis of race, ethnicity or national origin.
Twitter said the latest update is based on feedback since it published expanded rules on hateful content in 2019.
A blog post from the Twitter safety team said while we encourage people to express themselves freely on Twitter, abuse, harassment and hateful conduct continue to have no place on our service.
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Iran has moved to stop UN inspections of its nuclear sites and step up uranium enrichment under a new law approved by its parliament.
The bill would require the government to resume enriching uranium to 20% - well above the 3.67% agreed under a 2015 nuclear deal - if crippling sanctions are not eased in two months.
Iran's President Hassan Rouhani said he opposed the implementation of the law.
It comes after the targeted killing of Iran's top nuclear scientist.
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Ethiopia and the United Nations agreed on Wednesday to channel desperately-needed humanitarian aid to the northern region of Tigray, where a month of war is believed to have killed thousands of combatants and civilians.
Federal troops have been battling the Tigray People’s Liberation Front and have captured the regional capital Mekelle, and the pact announced by U.N. officials will allow relief into government-controlled areas of Tigray.
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Amnesty International has condemned a sharp rise in the use of the death penalty in Egypt - accusing the government of a horrifying execution spree.
The campaign group says the Egyptian authorities executed at least 57 people in October and November alone - nearly double the number recorded in the whole of 2019.
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The Central Bank of Nigeria on Wednesday directed all banks to close all naira ledger accounts opened for receiving International Monetary Transfer Operators proceeds.
The letter was addressed to all managing directors of deposit money banks.
The letter stated that regarding operations of diaspora remittances, all banks are hereby directed to close all naira ledger accounts opened specifically for the purpose of receiving IMTO proceeds with immediate effect.
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The Federal Executive Council on Wednesday approved N120,717,387,596 for the execution of various projects in different parts of the country.
Of the total amount, about N117.5 billion was approved for the reconstruction of roads and bridges in different parts of the country.
The Minister of Works and Housing, Mr. Babatunde Fasola while addressing reporters at the end of the 26th virtual FEC meeting, presided over by President Muhamadu Buhari in the Presidential Villa, Abuja, said he presented three memoranda to the council for the approval of N117,485,081,325.
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President Muhammadu Buhari has agreed to address the House of Representatives on the state of insecurity in the country, as requested by the lawmakers.
The Speaker of the House of Representatives, Honourable Femi Gbajabiamila said a date has been agreed on and it will be communicated soon.
He stated this on Wednesday, noting that the president is more concerned than most on the insecurity of the nation and will speak to the Nigerian people through their representatives soon.
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The Nigeria Centre for Disease Control has confirmed 122 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 67,960.
The Nigeria Centre for Disease Control in a tweet showed that the 122 new cases are reported from 11 states
A total of 63,839 persons have recovered from the virus while the death toll now stands at 1,177.
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The Secretary General of the United Nations, Antonio Guterres,on Wednesday warned that Humanity is waging what he will describe as a suicidal war on the natural world.
Mr Guterres wants to put tackling climate change at the heart of the UN's global mission.
Mr Guterres will say that every country, city, financial institution and company should adopt plans for a transition to net zero emissions by 2050.
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The UK has become the first country in the world to approve the Pfizer/BioNTech coronavirus vaccine for widespread use.
British regulator, the MHRA, says the jab, which offers up to 95% protection against Covid-19 illness, is safe for roll out.
The UK has already ordered 40m doses - enough to vaccinate 20m people, with two shots each.
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A senior British minister said there was still a chance of a turbulent Brexit without a trade deal as talks with the European Union had snagged on fishing, governance rules and dispute resolution.
A French official said Britain must clarify its positions and really negotiate and cautioned that the EU would not accept a substandard deal.
Both Britain and the EU say they want a deal, and their two negotiating teams have been locked in intensive talks for more than five weeks though they are still at odds over the three most contentious issues.
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Legislators in Mozambique's parliament are urging the government to allocate more funds to tackle the HIV/Aids epidemic, in the week that marks World Aids day.
The budget allocated to combat the epidemic has been reducing year after year - the budget has decreased from $2.9m (£2.1m) in 2015 to about $1.6m in 2020.
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President Uhuru Kenyatta said Kenya is now looking to the east for a potential Covid-19 vaccine.
The president gave the ministry of health the go ahead to shop for vaccines from China.
The country's decision comes in the wake of rich countries in the west buying nearly 3.8 billion doses of vaccines currently in development.
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Seychelles' newly elected President Wavel Ramkalawan on a three-day visit to Mauritius appealed to investors to come and finance businesses in his country.
Mr Ramkalawan on Tuesday announced that his country will improve the business climate with new initiatives to improve its placing in the Ease of Doing Business Index.The goal is to reach the Top 10 by 2021.
He invited Mauritian businesses to establish themselves in sectors such as fishing, agriculture and health.
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The federal government said it received 138 loan applications, totalling N14.59 billion, and has approved 13, covering N1.08 billion, under the Artisanal and Small-scale Miners (ASM) Financing Support Fund.
The Minister of Mines and Steel Development, Mr. Olamilekan Adegbite, on Tuesday in Abuja, that the fund was established in 2017 by the ministry in collaboration with the Bank of Industry.
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The Central Bank of Nigeria has approved the release of banks’ excess cash reserve requirement which is above the regulatory minimum.
It stated that it would be done through its issuance of 90-day CBN Special Bills.
The CBN stated this in a letter addressed to all banks, dated December 1, 2020, signed by its Director, Banking Supervision, Mr. Bello Hassan.
At last month’s Monetary Policy Committee meeting, the CRR was retained at 27.5 per cent.
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The Lagos State Judicial Panel on Restitution for Victims of SARS Related Abuses has dismissed a petition seeking to enforce a N300 million court judgment against the now-disbanded Special Anti-Robbery Squad.
Justice Rilwan Aikawa of the Federal High Court had awarded the sum as compensation against the police for the death of one Jimoh Kehinde in 2018.
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The House of Representatives has passed a resolution to invite President Muhammadu Buhari to brief the house on the true state of the security situation in the country.
The decision to summon President Buhari was taken at Tuesday’s plenary when the House considered a motion moved by members from Borno State on the recent massacre of 43 rice farmers in the state by Boko Haram insurgents.
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The Nigeria Centre for Disease Control has confirmed 281 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 67,838.
The Nigeria Centre for Disease Control in a tweet showed that the 281 new cases are reported from 13 states.
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South Sudan's health ministry has confirmed an outbreak of measles in five regional states.
John Rumunu, Director-General for Preventive Health Services, told the BBC in the capital, Juba.
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The US head of counter-terrorism says the Islamic State West Africa Province and Boko Haram remain credible threats in West Africa
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The speaker of Kenya's senate has allowed senators to wear traditional attire inside the chamber.
Senators, both male and female, were previously only allowed into the chambers while dressed formally or in-service uniforms, religious attires or any other attire approved from time to time.
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The Central Bank of Nigeria on Tuesday unveiled guidelines for the operation of the Private Sector-led Accelerated Agriculture Development Scheme to facilitate increased private sector agricultural production of staple foods and industrial raw materials as well as support food security, job creation and economic diversification.
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The Vice-President of South Sudan, Riek Machar, has been accused of leadership failure by a top official of his Sudan People’s Liberation Movement in Opposition party.
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Borno State Governor, Prof. Babagana Zulum, has urged the federal government to build on the conviction of six Boko Haram sponsors by the United Arab Emirate by setting up a multi-stakeholder team with trusted representatives to fish out more sponsors of the terrorist group.
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A human rights activist, Mr Kenechukwu Okeke, has filed a criminal complaint Against 50 persons including musicians Burna Boy, Tiwa Savage, Davido and the Senior Pastor of Daystar Christian Centre, Sam Adeyemi for their roles in the #EndSARS protests that took place nationwide in October.
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The Minister of Interior, Rauf Aregbesola, has called on Nigerian Traders who are facing tough times in Ghana not to leave the country, but rather to be patient with the Government of Nigeria as it continues to engage the Ghanaian Authorities and other relevant stakeholders with a view to addressing their challenges.
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Lagos State Governor, Babajide Sanwo-Olu, has announced plans to repeal the Public Office Holder in the state.
He explained that the state government was able to successfully restructure all existing internal loans from an interest rate of 20 per cent to 12 per cent, and in some cases single-digit interest rates.
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Lagos State Governor, Babajide Sanwo-Olu, has announced plans to repeal the Public Office Holder in the state.
He explained that the state government was able to successfully restructure all existing internal loans from an interest rate of 20 per cent to 12 per cent, and in some cases single-digit interest rates.
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President Muhammadu Buhari has urged agencies involved in agriculture to further streamline their priorities to include more youths in driving modern methods of farming.
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A prominent economic adviser to Japan’s prime minister says Tokyo should prepare for a leaderless era as U.S. global leadership gradually withers, and expand other strategic ties while bolstering its security alliance with Washington.
Suga adviser Takeshi Niinami told Reuters in an interview that they have to put a footprint in the Association of Southeast Asian Nations countries and India and also explore further relations with the United States in the security space.
Niinami said he believes it is inevitable that U.S. global leadership will wither in the long term.
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European Union sources Monday said the European Medicines Agency is still reviewing the safety of a Covid-19 vaccine submitted by Pfizer and BionNTech and has not received clinical trial data.
They said a rolling review of several potential vaccines is underway and, for now, Brussels is sticking by its forecast that one may be approved and available early next year.
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President Donald Trump on Monday announced by tweet that he had fired his defense secretary Mark Esper, further destabilizing a government already navigating Trump’s refusal to concede election defeat to Democrat Joe Biden.
Trump on Twitter, announcing his replacement by Christopher Miller, the current head of the National Counterterrorism Center.
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South Sudan’s health ministry has issued new directives limiting the activities of international NGOs working in healthcare.
Among the 10 guiding principles are an obligation for the NGOs to deposit their money into a single account to be called the unified healthcare partners’ account at the central bank.
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Guinea's President Alpha Condé has vowed to crackdown on ill-gotten wealth in the country.
The president said he would not allow impunity and nepotism in his leadership, and has promised to ensure public money is used to the benefit of Guineans.
President Condé warned looters to return stolen money before his administration catches up with them.
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Media Rights Agenda has filed a lawsuit at the Federal High Court in Ibadan, Oyo State, challenging the powers of the National Broadcasting Commission to impose fines on broadcasting stations since it is not a judicial body.
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Former presidential candidate for Young Progressive Party, Kingsley Moghalu has faulted the clampdown on some promoters of the recently-held #EndSARS protests, saying it is unacceptable.
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The United Nations has called on the Nigerian government to engage the youths in the country following the recent #EndSARS protests that led to the loss of lives and destruction of properties.
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The Petroleum and Natural Gas Senior Staff Association of Nigeria has declared a nationwide strike, sparking fears of fuel scarcity in the country
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President Muhammadu Buhari has ordered the disposal of all Federal Government Forfeited Assets within the next six months.
The Attorney-General of the Federation and Minister of Justice, Abubakar Malami said this on Monday during the inauguration of a 22-member Inter-Ministerial Committee on the disposal of the Federal Government of Nigeria’s forfeited assets.
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Prime Minister Scott Morrison on Monday said Australia would welcome President-elect Joe Biden restoring the United States to the Paris climate accord, as he faced renewed pressure himself to boost efforts to cut Australia’s carbon emissions.
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Palestinian President Mahmud Abbas on Sunday called on US president-elect Joe Biden to enhance relations between the Palestinians and Washington, which collapsed during President Donald Trump’s term in office.
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President-elect Joe Biden has called for unity and promised a new day for America in his first national address since he won the tense US election and ended the era of Donald Trump.
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The total of confirmed corona virus cases has surged past 50 million following record numbers of new cases in several countries.
Johns Hopkins university reports that more than 1.25 million people have now died after contracting the virus.
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The leader of the Tigray region in northern Ethiopia has called on the African Union to intervene to stop the country from spiralling into civil war.
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Amnesty International has urged the authorities in Tunisia to stop using largely outdated, overly broad and repressive laws to crack down on freedom of expression online.
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Socio-Economic Rights and Accountability Project and 365 concerned Nigerians have filed an application before the Federal High Court, Abuja, asking the court to reject a suit which seeks to shut down Twitter.
This will prevent it from operating within the Nigerian cyberspace, and ultimately restrict the rights to freedom of expression, peaceful assembly and media freedom in the country.
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The Presidency has assured that Nigeria will continue giving its unflinching support to ensure that Ngozi Okonjo-Iweala wins the race to become Director-General World Trade Organisation.
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The Debt Management Office said that a total of N195 billion has been disbursed to 270 exporters under the Export Expansion Grant (EEG) programme of the federal government.
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The Nigeria Centre for Disease Control has confirmed 300 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 64,090.
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Malaysian Government on Friday said 1Malaysia Development Berhad, the state fund at the centre of a massive corruption scandal, still had an estimated 32.3 billion ringgit ($7.80 billion) in outstanding debt as of September.
Malaysia said in 2018 the government would have to pay about $13 billion of 1MDB’s dues.
The report said Malaysia has also recovered a total of 13.4 billion ringgit ($3.24 billion) in assets linked to 1MDB’s financial trail as of the end of September.
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The U.S. State Department gave Congress notification it plans to sell 18 sophisticated armed MQ-9B aerial drones to the United Arab Emirates in a deal worth as much as $2.9 billion.
A $600 million deal to sell four unarmed but weapons-ready MQ-9B SeaGuardian drones to Taiwan was the first to be formally notified to Congress on Tuesday.
A U.S. State Department spokesman told Reuters as a matter of policy, the United States does not confirm or comment on proposed defense sales or transfers until they are formally notified to Congress.
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The head of the United Nations said he was deeply alarmed by fighting in Ethiopia’s northern Tigray region, where federal troops have been exchanging fire with the powerful ethnic faction that led the ruling coalition for decades.
Prime Minister’s Abiy Ahmed’s government is mobilising troops from around the country and sending them to Tigray, after two days of clashes between government forces and the Tigray People’s Liberation Front (TPLF).
U.N. Secretary General António Guterres in a message on Twitter seen on Friday said the stability of Ethiopia is important for the entire Horn of Africa region. I call for an immediate de-escalation of tensions and a peaceful resolution to the dispute.
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The Moroccan government, the World Bank and the International Monetary Fund on Thursday said they will postpone plans to hold the World Bank Group-IMF Annual Meetings in Marrakesh in October 2021 until 2022 due to the COVID-19 pandemic.
The annual meetings are usually held for two consecutive years at the World Bank and IMF headquarters in Washington, and then in a member country every third year.
The World Bank and IMF held virtual meetings in April and October this year due to the pandemic. No decision has been made yet on whether the spring 2021 meetings will take place in person or online.
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The International Development Finance Club, a group of 26 national and regional development banks, said its members supplied $197 billion in green finance in 2019, representing a quarter of their total lending.
The IDFC in a report published on Friday said while a 47% increase on 2018, the figure for 2019 remains below a high reached in 2017.
In total, $867 billion has been invested since 2015, when the Paris Agreement was struck to limit global warming.
The role of state-backed lenders in driving the global response to climate change is increasingly under the spotlight given their deep pockets and ability to pave the way for increased private-sector investment by sharing risk.
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The state-owned Suna news agency has reported that Sudan has closed the border between its eastern Kassala State and Ethiopia, following rising tensions between Ethiopian federal authorities and the Tigray region.
The announcement was made by Governor Fateh al-Rahman al-Amin who said the border will remain closed until further notice, the agency reports.
The governor said he would travel to Wad Al Helew, a village in Kassala State bordering Ethiopia and Eritrea, to assess the situation.
He stressed that Sudanese authorities would not allow any individuals or groups to enter the state with weapons.
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The head of Ethiopia's Tigray region has described clashes between regional and federal troops as a state of war.
Debretsion Gebremichael said the region would be fully mobilised for the war effort adding that special forces from the Amhara region had joined federal troops in fighting Tigray government forces.
Mr Debretsion said that fighting is taking place in Ethiopia's western Tigray region, which borders Amhara.
He said Tigray forces had seized almost all the weaponry from the Ethiopian military's Northern Command.
He also alleged that some federal soldiers had crossed the border into Eritrea on Wednesday.
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Cross River State governor, Professor Ben Ayade on Thursday presented the 2021 appropriation bill to the State House of Assembly.
The sum of N192,511,985,550 representing 67 percent of the entire budget is earmarked for recurrent expenditure while N88,196,500 representing 33 percent is for capital expenditure.
The governor explained that due to the cumulative impact of the disasters that characterised the year 2020, 67 percent of the budget goes for recurrent expenditure.
Ayade said he is set to meet the immediate and physical needs of Cross River residents in the aftermath of the COVID-19 and #EndSARS aftermath.
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The Inspector General of Police Mohammed Adamu has again stressed the need for Nigerians to embrace the community policing strategy which he says is the best strategy to combat crime in the country.
The IGP disclosed this in owerri the Imo state capital during a one day working visit to the state to access the level of damage done by hoodlums who hijacked the peaceful #EndSARS protest.
The IGP stated that in a few weeks from now, youths will be recruited into the police force from ward levels to work with traditional rulers in a bid to secure every community.
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The Chinese government has temporarily suspended entry into China by Nigerians and other nationals in Nigeria holding valid Chinese visas or residence permits.
The Embassy of China and Consulate in Nigeria announced this in a public notice on Thursday, adding that it will no longer issue a certified health declaration form for non-Chinese nationals in the country.
The communique showed that entry by holders of diplomatic, service, courtesy or C visas will not be affected.
The Chinese authorities said the suspension is a temporary response necessitated by the current situation of Covid-19.
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Nigerian President on Thursday said Authorities are making strong and transparent efforts to address the rogue elements of the Nigeria Police Force.
President Muhammadu Buhari, however, warned that his administration would not allow anybody or group to threaten the peace in the country or sabotage their efforts.
He stressed the imperative of support of traditional rulers in his administration’s determination to address the demands of the country’s youths, following the #EndSARS protests.
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The Nigeria Centre for Disease Control has confirmed 180 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 63,508.
The Nigeria Centre for Disease Control in a tweet showed the 180 new cases are reported from 14 states.
A total of 59,748 persons have recovered from the virus while the death toll now stands at 1155.
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Indonesia’s virus-hit economy contracted in the third quarter, plunging it into its first recession since the archipelago was mired in the Asian financial crisis more than 20 years ago.
Activity in Southeast Asia’s biggest economy slumped 3.49 percent on-year in July-September, the statistics agency said Thursday, with tourism, construction and trade among the hardest-hit sectors.
The data marked the second consecutive quarter of contraction after a 5.3 percent decline in April-June.
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Ethiopia's Prime Minister, Abiy Ahmed, has declared the military’s operation in the northern state of Tigray a success.
Mr. Abiy in a televised address vowed to continue with the military offensive despite international calls for restraint.
The national authorities accuse the Tigray People’s Liberation Front which has held power in the state for close to three decades of launching multiple attacks on the military.
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The UN has temporarily suspended humanitarian services in eastern South Sudan, in Pibor area, following the killing of two local aid workers.
The United Nations Office for the Coordination of Humanitarian Affairs said Two members have been killed while on official business.
The Humanitarian Coordinator in South Sudan, Alain Noudéhou, has condemned the violence.
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Lagos State Governor, Babajide Sanwo-Olu has signed an Executive Order to establish the Lagos State Rebuilding Trust Fund.
Sanwo-Olu who signed the order on Wednesday at the State House in Ikeja,said the trust fund would look into rebuilding the state after suspected hoodlums destroyed public and private facilities in the state.
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The Minister of Youth and Sports Development, Sunday Dare on Thursday said congratulations are in place for Mr Adeoye Owolewa, after he became the first Nigerian-born man to win a seat in the US House of Representatives.
Dare in a tweet said Congrats are in place for the 31-year old Adeoye Owolewa for making Nigeria proud by being the first Nigerian to win a seat in the United States Congress.
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The Minister of Finance, National Planning and Budget, Mrs. Zainab Ahmed, on Wednesday said the federal government was considering opportunities embedded in green bond and other sources of green finance to fund access to water, sanitation and hygiene.
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The federal government will sign an agreement with Transcorp Consortium, the preferred bidder of Afam Power Plant, with a bid sum of N105 billion.
The Director-General of the Bureau of Public Enterprises, Mr. Alex Okoh, told journalists on Wednesday in Abuja that the agreement-signing ceremony showed the fact that rather than being hamstrung by the negative impact of COVID-19, the privatisation agency scaled up its activities during the pandemic by concluding the sale process.
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The Independent National Electoral Commission has announced that the Continuous Voter Registration exercise will commence in the first quarter of 2021 ahead of the 2023 general election.
The sum of N1billion has also been earmarked by INEC for the exercise.
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The Nigeria Centre for Disease Control has confirmed 155 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 63,328.
The Nigeria Centre for Disease Control in a tweet showed the 155 new cases are reported from 10 states
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US Secretary of State Mike Pompeo on Monday denounced Beijing over the arrests of eight opposition politicians in Hong Kong, saying China was seeking to silence dissent.
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An Israeli official on Monday said Saudi Arabia and Qatar are among countries slated to establish relations with Israel under a regional rapprochement launched by U.S. President Donald Trump.
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Data from Institute of International Finance showed that emerging markets sucked in $17.9 billion of portfolio flows in October, up from $7.5 billion the month before, buoyed by an improving outlook for the global economy and strength of the tech sector.
Debt accounted for the majority of inflows, mostly to emerging Asia and China, as investors were attracted by a steady pipeline of external issuance. Debt inflows were around $11.7 billion during the month.
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EU Ambassador Antonio Sanchez-Benedito Gaspar on Monday said the European Union has agreed to provide Mozambique with 100 million euros ($116.30 million) in coronavirus-related aid.
The EU cut off direct budget support to Mozambique in 2016 after the country revealed the existence of hefty state-guaranteed loans that it had not previously disclosed. A number of other donors including the International Monetary Fund also halted aid to Mozambique.
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South Sudan's President Salva Kiir has dismissed the governor of the Central Bank, Gamal Abdalla Wani, less than 10 months after he took office.
The news of his dismissal was announced by decree on the national broadcaster on Monday evening however no reason was given for his sacking.
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The electoral commission in Ivory Coast says President Alassane Ouattara has won a third term, securing just over 94% of the votes in Saturday's election, that the opposition boycotted.
Turnout was put at almost 54% while the result has to be confirmed by the Constitutional Council.
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The Chief Justice of Nigeria ,Justice Ibrahim Muhammad, on Monday told newly-appointed judges of the High Court of Justice and Kadis of Sharia Court to shun gratifications in the discharge of their duties.
The CJN also admonished them to be proactive and devise personal means to curb persistent delays in the administration of justice which is a major bane in the nation’s judiciary.
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The Nigerians in Diaspora on Monday evening in a series of tweets on its handle said Egyptian authorities will deport seven #EndSARS protesters for lack of resident permits and visas.
The Chairman of the NIDCOM, Abike Dabiri-Erewa, said the only Nigerian among them who has residency permit will get final clearance from the Egyptian Interior Minister, Mahmoud Tawfik after signing an undertaking not to be involved in any unauthorised activities while still in the country.
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The Minister of Youth and Sports Development, Sunday Dare, said fake news was widely spread through social media during the #EndSARS protests held across the country.
The Minister disclosed this on Monday, during an interview on Channels Television breakfast programme, Sunrise Daily.
He said the question of fake news is bothersome not only in Nigeria but every part of the world.
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Nigerian students sponsored abroad in 2018 for further studies by the Niger Delta Development Commission on Monday held a fresh protest over the non-release of funds for their scholarship for two years after being verified twice.
The 94 scholars displayed placards with various inscriptions as they gathered in front of the Nigeria High Commission in London, United Kingdom.
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The Federal Government has approved the sum of N5billion as a bailout for airline operators and other business owners in the aviation sector to cushion the effects of COVID-19 on the country’s aviation industry.
The announcement was made on Monday by the Minister of Aviation, Hadi Sirika.
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The Attorney General of the Federation and the Minister of Justice, Mr. Abubakar Malami, has declared that hoodlums wearing military uniforms may have shot Nigerian protesters campaigning against police brutality in Lagos, adding that it was too soon to tell if soldiers were involved.
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The Nigeria Centre for Disease Control has confirmed 72 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 63,036.
The Nigeria Centre for Disease Control in a tweet showed that the 72 new cases are reported from 9 states.
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Queensland Premier Annastacia Palaszczuk said the state's borders will remain closed to Australia's two biggest cities, following her recent election win.
The ban on people from greater Sydney and Victoria which includes Melbourne is to prevent the spread of Covid-19.
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Britain’s Prime Minister Boris Johnson has announced a new four-week coronavirus lockdown in England, which will join several European countries in imposing the measure for a second time, as Slovakia took a different tack and began testing its entire population.
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Reuters news agency reported that South Africa's Competition Tribunal has approved a rescue deal for struggling airline Comair on condition investors allocate shares to a black empowerment structure.
A portion of shares will go to an employee shared-ownership programme.
Comair operates the British Airways franchise in South Africa as well as budget airline Kulula.com.
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The head of the World Health Organization on Sunday said he was self-quarantining after someone he had been in contact with tested positive for Covid-19.
Tedros Adhanom Ghebreyesus in a tweet said he had no symptoms but will self-quarantine over the coming days, in line with WHO protocols, and work from home.
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The US Agency for International Development has terminated its Covid-19 cash transfer programme in Uganda.
The US embassy in Uganda said the decision followed the Ugandan government's indefinite suspension of GiveDirectly, a non-profit organisation that was conducting the programme.
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Investors in the Nigerian equity market gained N1.934 trillion in October as the market recorded its best monthly gain since 2018 on the continued inflow of funds searching for real returns and positive reactions to the better-than-expected third quarter and nine months earnings so far released.
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President Muhammadu Buhari has condoled with the government and people of Turkey and Hellenic Republic over the earthquake that struck both countries and left many casualties.
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The Socio-Economic Rights and Accountability Project and 261 concerned Nigerians, civil society organisations, and media groups have filed a lawsuit against the National Broadcasting Commission and Minister of Information and Culture Mr Lai Mohammed over the fines the commission imposed on Channels Television, AIT and Arise TV for their coverage of the EndSARS protests in the country.
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The Federal Government has vowed to end impunity for crimes against members of the public including journalists.
Attorney-General of the Federation and Minister of Justice, Abubakar Malami disclosed this on Sunday, as he recognised the United Nation’s proclamation of November 2nd as the International Day to End Impunity for Crimes Against Journalists.
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President Muhammadu Buhari has appealed to the youths to end street protests and participate in meaningful discussions with the government aimed at comprehensive reforms to end all forms of police brutality against Nigerians.
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The Nigeria Centre for Disease Control has confirmed 111new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 62,964.
The Nigeria Centre for Disease Control in a tweet showed the 111 new cases are reported from 8 states.
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The head of the media association of Uganda has said broadcasters will ignore a directive by the government spokesman, Ofwono Opondo, banning TV stations from hosting guests wearing red berets.
Mr Opondo on Tuesday said that it was illegal to wear a red beret and those who flout the order would be prosecuted.
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Senegalese President Macky Sall has dissolved his government, according to a statement from the presidency.
President Sall has signed four decrees to that effect.
No reason was given for the move or when the new cabinet is likely to be formed. The dissolved government had 32 ministers and three state secretaries.
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The US has expressed concern over inconsistencies in preliminary results of Guinea's presidential election.
The US embassy in a statement spoke of a lack of transparency in vote tabulations and inconsistencies between the announced results and tally sheets results from polling stations.
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Police in Zambia have summoned two journalists from a privately-owned TV station for questioning over a reportedly leaked budget speech presented to parliament last month.
Diamond Television said its chief executive, Costa Mwansa, and head of news, George Chomba, have been asked to appear before police today.
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The Media Rights Agenda and the International Press Centrehave condemned the sanctioning of three television stations by the National Broadcasting Commission over the coverage of the #ENDSARS protests.
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President of the Nigeria Football Federation, Amaju Pinnick on Wednesday confirmed the receipt of $1 million as COVID-19 palliatives from FIFA.
Pinnick in tweet said Huge appreciation to football’s world governing body, @FIFAcom, for the $1 million (one million dollars) the Federation has received in the frame of COVID-19 palliatives.
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The Speaker of the House of Representatives, Femi Gbajabiamila, has said the parliament is determined to resolve the issues facing the Academic Staff Union of Universities.
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The Lagos State Government will shut the Adekunle-Adeniji axis of the Third Mainland Bridge for the second round of repairs.
The Ministry of Transportation in a statement issued on Wednesday said the closure will take place on Friday at midnight.
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Human rights group, Amnesty International has asked the Federal Government not to cover up the shooting at the Lekki Toll Gate during the #EndSARS protests but rather bring to justice those involved.
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The Federal Executive Council has approved the sum of N2.9 billion for the printing of materials for the upcoming Senior School Certificate Examinations, common entrance and basic education exams.
The Minister of Education, Mr Adamu Adamu, disclosed this while briefing State House correspondents after the Federal Executive Council meeting which was held at the council chambers in Abuja on Wednesday.
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President Muhammadu Buhari has asked Nigerians to do everything to avert a second wave of the COVID-19 pandemic.
Buhari in a statement issued on Wednesday by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, said Nigeria’s economy is too fragile to bear another round of lockdown.
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The Nigeria Centre for Disease Control has confirmed 147 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 62,371.
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Oil prices plunged on Wednesday, giving up most of the previous day's gains, amid a jump in US crude inventories. Industry data showed US crude oil and gasoline stocks rose last week, with crude inventories rising by 4.6 million barrels to about 495.2 million barrels, beating expectations for a build of 1.2 million barrels. Sentiment was also rattled by a statement from US President Donald Trump saying that the COVID-19 virus relief deal would likely come after the November election as the White House was unable to bridge differences with fellow Republicans in Senate as well as congressional Democrats.
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Major stock markets in Asia traded mixed on Wednesday as traders weighed the possibility for further economic recovery in China amid new listings of fintech shares against waning hopes for more aid in the US as well as surging global COVID-19 cases in recent days. The Shanghai Composite and the Kospi led the gains, while shares in Japan and Hong Kong fell.
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Qatar said it will investigate allegations that women booked on 10 flights were subjected to invasive examinations at an airport in Doha.
The women were checked for whether they had given birth after a baby was found in a bin at Hamad Airport on 2 October.
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Israel on Tuesday said the United States is effectively lifting a ban on U.S. funding of Israeli scientific research projects conducted in the West Bank and Golan Heights, areas Israel occupied in a 1967 war.
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A senior Chinese official accused the United States on Wednesday of deflecting blame and breaking its word when it comes to fighting climate change, as the simmering diplomatic row between the world’s two biggest economies shifts to the environment.
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Bloomberg news agency and the UK-based Financial Times newspaper are reported that Nigeria's former Finance Minister Ngozi Okonjo-Iweala has won the backing of the European Union in her bid to become the first African to lead the World Trade Organisation.
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South Africa's President, Cyril Ramaphosa, has dismissed alarmist rumours on the country's possible return to stricter coronavirus regulations.
Health Minister Zweli Mkhize said the country has recorded a surge in Covid-19 infections over the last week.
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The federal government on Tuesday launched a fresh campaign to regulate social media, especially in the wake of the #EndSARS protests that were largely driven by digital campaigns.
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The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, on Tuesday said the banking sector gave credit facilities amounting to N1.80 trillion totalling N2.32 trillion to 273,435 large companies, individuals and Micro, Small and Medium Enterprises (MSMEs) registered under the National Collateral Registry (NCR).
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The Federal Government has declared Thursday as a public holiday to mark this year’s Eid-el-Maulud celebration in commemoration of the birth of Prophet Muhammad.
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President Muhammadu Buhari has reappointed Professor Mahmood Yakubu as Chairman of the Independent National Electoral Commission (INEC) for another five-year term.
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The Nigeria Centre for Disease Control has confirmed 113 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 62224.
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The World Health Organization chief insisted Monday that it was still possible to rein in Covid-19 even in places with surging outbreaks, warning against giving up the fight.
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Government sources suggested that France could announce tougher measures later this week to bring the coronavirus under control after the number of daily cases topped 50,000 for the first time.
President Emmanuel Macron will gather his top ministers Tuesday to review efforts to curtail the outbreak.
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The Pentagon on Monday said the U.S. State Department has approved the potential sale of 100 Boeing-made Harpoon Coastal Defense Systems to Taiwan in a deal that has a potential value of up to $2.37 billion.
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Turkish leader Tayyip Erdogan asked his compatriots to stop buying French goods on Monday in the latest expression of anger in the Muslim world over images being displayed in France of the Prophet Mohammad, which some Muslims consider blasphemous.
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Cameroon's President Paul Biya has condemned the killing of seven children in a mass shooting at a private school in the Anglophone region.
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The United Nations says rich countries are dumping millions of highly polluting used cars on poorer nations.
An investigation by the UN Environment Programme found that between 2015 and 2018, 14 million old, poor quality vehicles were exported from Europe, the US and Japan.
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South Sudan’s health ministry has announced an outbreak of polio in five regional states of the country.
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The Socio-Economic Rights and Accountability Project , People’s Democratic Party and the Nigeria Union of Journalists on Monday criticised the National Broadcasting Commission for imposing fines on ARISE NEWS Channel, Channels Television and Africa Independent Television over their coverage of the #ENDSARS protests.
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The National Economic Council has reached a resolution by the Council that the deeper reasons behind the ENDSARS protests and its fallouts should be addressed by both the Federal and State Governments.
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The Nigeria Governors’ Forum has denied allegations that COVID-19 palliatives meant for distribution were hoarded by state governments.
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The Chief of Army Staff, Lieutenant General Tukur Buratai, has warned all officers and soldiers of the Nigerian Army to ensure the nation’s democracy is not disrupted by any person or group.
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The United Kingdom is insisting on probing the shooting of #EndSARS protesters in the Lekki area of Lagos and similar incidents during the demonstrations.
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The Nigeria Centre for Disease Control has confirmed 119 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 62,111.
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Major stock markets in Asia traded lower Monday, amid uncertainty over a new fiscal stimulus in the US as well as renewed fears over a resurgence of coronavirus cases in the US and across Europe. The Shanghai Composite led the losses, dragged down by the consumer staples sector and financials. The Hong Kong market was closed for a holiday.
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Oil prices fell more than 1% on Monday, amid mounting fears over weakening global demand as the number of COVID-19 cases US surged in North America and across Europe. The US saw its highest number of virus cases in two days through Saturday, while new infections in France hit a record of over 50 thousand Sunday and Spain announced a state of emergency.
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The Shanghai Composite Index tumbled 36 points or 1.1% to 3,242 on Monday at around 02:15 PM Shanghai time, amid mounting fears over the development of COVID-19. China reported 20 new confirmed and 161 new asymptomatic virus cases Sunday following a surge in symptomless infections in the northwestern Xinjiang region. In the US, White House chief of staff Mark Meadows suggested that the country could not get control of the pandemic.
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Gold fell 0.3% to $1,899 on Monday at around 03:45 AM GMT, extending losses from the previous two sessions, amid a stronger dollar and a lack of a deal on additional US fiscal stimulus. US House Speaker Nancy Pelosi said Sunday Washington was reviewing the latest plan for new COVID-19 relief over the weekend and that she looked forward to a response Monday. Traders are watching China's Communist Party Annual meeting that starts today, where Premier Xi Jinping and members of the Central Committee will set a blueprint for economic and social development for 2021-2025.
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Ethiopia's prime minister said his country will not cave in to aggressions of any kind after President Donald Trump suggested Egypt could destroy a controversial Nile dam.
The Grand Ethiopian Renaissance Dam is at the centre of a long-running dispute involving Ethiopia, Egypt and Sudan.
Mr Trump said Egypt would not be able to live with the dam and might blow up the construction.
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Polls in Egypt closed on Sunday after a heavy turnout for the parliamentary elections in 14 provinces.A second round of voting is scheduled for 7-8 November for 13 other provinces.
Run-offs for all the provinces will be held on different dates in November and December.
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The Nigerian Bar Associationon Sunday urged the federal government and the various state governments to take lawful proactive steps in containing the current volatile situation in the country.
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Polls in Egypt closed on Sunday after a heavy turnout for the parliamentary elections in 14 provinces.
A second round of voting is scheduled for 7-8 November for 13 other provinces.
Run-offs for all the provinces will be held on different dates in November and December.
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The United Nations has said that its assets in Calabar, Cross River capital, have been vandalised.
Edward Kallon, UN Resident and Humanitarian Coordinator in Nigeria, Mr. Edward Kallon, announced the development via Twitter, yesterday.
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Lagos State Government has reviewed the curfew time earlier imposed on residents of the state.
A statement issued on Sunday by the Commissioner of Information and Strategy, Gbenga Omotoso, the restriction time is now from 8 pm to 6 am.
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The Speaker of the House of Representatives, Mr Femi Gbajabiamila said that Nigerians killed before, during, and after the #EndSARS protests must get justice.
The Speaker, who sympathised with Nigerians from all parts of the country as a result of the killings, said the unity of the country remains non-negotiable.
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President Muhammadu Buhari said that he is avoiding to get into any debates until all facts are established few days after he addressed the nation regarding the violence and unrest that marred the #EndSARS protests.
President Buhari disclosed this on Sunday in a communique by his special media aide, Mr. Garba Shehu.
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The Nigeria Centre for Disease Control has confirmed 62 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 61,992.
The Nigeria Centre for Disease Control in a tweet showed that the 62 new cases are reported from 11 states.
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US regulators have given full approval for the antiviral drug remdesivir to treat Covid-19 patients in hospitals.
The US Food and Drug Administration said Veklury, the drug's brand name, cut the recovery time on average by five days during clinical trials.
The World Health Organization last week said remdesivir had little to no effect on patients' survival.
The WHO said this was based on its own study - but the drug's manufacturer Gilead rejected the findings of the trial.
Remdesivir had been authorised for emergency use only in the US since May.
In the US it will cost $3,120 via private insurers and $2,340 via government purchasers for a five-day course.
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Chinese foreign ministry spokesman Zhao Lijian told a news briefing on Friday that the United States is bullying countries to pick sides over their ties to China, but such efforts will not succeed.
A senior State Department official said on Thursday said the United States is urging Sri Lanka to make difficult but necessary choices to secure its economic independence instead of choosing opaque practices, in an apparent reference at China deepening its influence over the South Asian country.
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The chief negotiators of Britain and the European Union meet on Friday for intensive negotiations on a last-minute trade deal that would stave off a tumultuous finale to the five-year-old Brexit crisis.
The EU said it was ready to talk about draft legal texts of a deal after threats from Britain that it would undercut the 2020 divorce treaty, and Johnson briefly broke off trade talks on Friday.
EU chief negotiator Michel Barnier told Reuters on arrival in London on Thursday that it is very important to be back at the table and have a huge common responsibility.
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Two Sudanese government sources told Reuters on Thursday that Sudan’s Prime Minister Abdalla Hamdok is ready to proceed with normalizing relations with Israel once a yet-to-be-formed transitional parliament has approved the step.
The comments are the clearest sign that Hamdok, under pressure from the United States, is willing to contemplate Sudan establishing ties with former adversary Israel.
Hamdok’s technocratic government has so far rebuffed U.S. advances aimed at pushing Sudan to follow the lead of the United Arab Emirates and Bahrain, both of which signed agreements to establish formal ties with Israel at the White House last month.
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Belgium, one of Europe’s hardest hit countries by the coronavirus, further tightened restrictions on social contacts on Friday, banning fans from sports matches, limiting the number of people in cultural spaces and closing theme parks.
Belgium, which has already closed cafes, bars and restaurants and imposed a night curfew, has Europe’s second highest infection rate per capita after the Czech Republic. New infections hit a peak of 10,500 on Thursday.
Belgium Prime Minister Alexander de Croo told a news conference that there is no law that can stop the virus, the only ones who can stop it are the citizens.
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Ivory Coast's opposition has rejected the government's plan to reform the electoral commission ahead of next week's election
President Alassane Ouattara is vying for a controversial third term. His candidature has caused unrest in the country.
The UN has expressed concern over ongoing violence that has in recent days left at least seven people dead and more than 40 injured, according to the authorities.
The two main opposition candidates - former President Henri Konan Bédié and former Prime Minister Pascal Affi N'Guessan - announced the boycott earlier in the month.
They asked their supporters to block what they described as an electoral coup.
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The European Parliament has endorsed Nigeria’s candidate for the position of the Director-General of the World Trade Organisation , Dr. Ngozi Okonjo-Iweala.
The parliament said it screened the two remaining candidates in the WTO DG race, Okonjo-Iweala and Ms. Yoo Myung-hee of South Korea, and is convinced that the Nigerian candidate has the energy and is well-equipped for the job.
The EP, in a letter on Wednesday signed by the Co-chairs of the Parliamentary Conference on the WTO Steering Group, Mr. Bernd Lange and Mr. Sven Simon, said the European Parliament was satisfied with Okonjo-Iweala’s level of requirements and skills.
They urged the European Union (EU) to express support for the candidacy of the former World Bank director.
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The International Monetary Fund on Thursday expressed concern about the civil unrest in Lagos and some other parts of Nigeria, following the shooting of some #EndSARS protesters Lekki Tollgate on Tuesday night.
The Director of IMF’s African Department, Mr. Abebe Aemro Selassie, said the civil unrest in Lagos, which contributes significantly to Nigeria’s overall Gross Domestic Product could have a negative consequence on the economy.
He called for timely resolution of the crisis to prevent the economy, which is still reeling from the effects of the COVID-19 pandemic, from slipping further into a tailspin.
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The Independent National Electoral Commission has postponed bye-elections in eleven states billed to hold on October 31st, 2020.
It said the decision followed a meeting of the electoral body with the 37 Resident Electoral Commissioners (RECs) to review preparations for the 15 bye-elections.
INEC, however, disclosed that it would continue to monitor the situation in the states where the elections are to be held and meet in two weeks to review the situation and also pick a feasible date for the polls.
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President Muhammadu Buhari says he has directed the National Salaries, Income and Wages Commission (NSIWC) to expedite action on the finalization of the new salary structure of members of the Nigeria Police Force.
President Buhari argued that progress is being made with regards to the welfare of police personnel.
The President also disclosed that the emoluments of other paramilitary services are also being reviewed upwards.
He further stated that in order to underscore the importance of education in preparing youths for the future, his administration has come up with a new salary structure and other incentives for teachers.
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President Muhammadu Buhari has broken his silence on the ongoing #EndSARS protests across the country.
The President in his 15-minute long address on Thursday assured the protesters that their voices have been heard and urged them to discontinue their demonstrations.
The President, however, did not address the shootings by soldiers in the Lekki Toll Gate area of Lagos State, an issue many had expected him to address.
He also reiterated his administration’s commitment to securing lives and property and enjoined security agencies to do so without harming those they are meant to protect.
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The Nigeria Centre for Disease Control has confirmed 138 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 61,805.
The Nigeria Centre for Disease Control in a tweet showed that the 138 new cases are reported from 13 states
A total of 56,985 persons have recovered from the virus while the death toll now stands at 1127.
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Thailand has lifted a ban on public gatherings, after an emergency decree failed to put a stop to mass anti-government protests in Bangkok.
A government statement said it was revoking the measures as the serious situation had eased.
Protesters have also been demanding for the release of activists who were arrested last week when the emergency decree came into force.
The decree allowed authorities to arrest protesters, seize electronic materials, and ban certain broadcasts or publications.
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The US has approved arms sales to Taiwan worth around $1.8bn (£1.4bn), in a move that is likely to increase tensions with China.
The Pentagon said the deal comprised three weapons systems including rocket launchers, sensors and artillery.
US national security adviser Robert O'Brien had earlier said that while he did not believe China was ready to invade Taiwan, the island needed to fortify itself for the future.
Taiwan's defence ministry said the weapons would help it build credible combat capabilities and strengthen the development of asymmetric warfare.
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US national security officials say Iran was responsible for sending threatening emails to Democratic voters.
National Intelligence Director John Ratcliffe said the emails appeared to come from a far-right pro-Trump group and were meant to incite unrest.
Mr Ratcliffe said US officials found Iran and Russia had obtained "some voter registration information.
The unusual intelligence briefing this close to the vote is seen as a testament to the government's concerns over voting interference and disinformation campaigns from foreign actors.
Mr Ratcliffe said Iran's spoof emails claimed to be sent by the far-right Proud Boys group in order to intimidate voters, incite unrest and damage President Donald Trump.
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The South African supermarket chain Pick n Pay plans to open its first store in Nigeria.
Pick n Pay's Nigeria venture will be a partnership with A G Leventis, a group with investments in West Africa ranging from agricultural equipment to property management.
The South African supermarket chain believes it can overcome problems that have hit competitors, like currency devaluations and logistical challenges, as well as barriers to repatriating profits.
Pick n Pay's strategy in Nigeria will focus on opening small neighbourhood stores, whereas other foreign retailers have established flagship stores in large shopping centres.
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A class action legal case has been launched against a subsidiary of the mining firm Anglo-American over an abandoned lead mine in Zambia.
Lawyers representing a group of women and children say more than 100,000 people may have been poisoned by toxins from the site in Kabwe.
Anglo-American said no claim had yet been served against it, but insisted any legal action would be vigorously defended.
The firm pointed out that the mine was owned for more than 20 years before its closure by the Zambian government.
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The African Union has strongly condemned the violence against anti-police brutality protesters in Nigeria.
The Chairperson of the AU Commission, Moussa Faki, urged both political and social actors to respect human rights and the rule of law.
He hailed the disbandment of the hated Special Anti-Robbery Squad (Sars) and encouraged investigations to ensure perpetrators of acts of violence are held to account.
The regional bloc, Economic Community of West African States (Ecowas), called for dialogue between the Nigerian government and the protesters.
Ecowas urged both parties to exercise restraint as protests continue.
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The United Nations’ Secretary-General, Antonio Guterres, has called for an end to police brutality in Nigeria, condemning violent clashes that claimed multiple lives and caused many injuries.
The Secretary-General in a communiqué by his spokesperson, Stephane Dujarric said he has been following recent developments in Nigeria and has called for an end to police brutality and abuses.
Mr Guterres condemned the shooting of protesters on Tuesday at Lekki in Lagos which resulted in multiple deaths and caused many injuries.
He expressed his condolences to the bereaved families and wished a speedy recovery to those injured.
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British Foreign Secretary Dominic Raab on Wednesday said that he was deeply concerned by the recent violence in Nigeria and reports of civilian deaths, and called for an end to the violence.
He said in a statement that the Nigerian government must urgently investigate reports of brutality at the hands of the security forces and hold those responsible to account.
The shooting drew widespread international condemnation, with UN High Commissioner for Human Rights Michelle Bachelet saying reports suggested it could have been premeditated.
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The stock market lost N113 billion on Wednesday as investors’ appetite, which has been high for days became dampened due to the tensed security situation in the country.
Investors however reduced their demand for equities yesterday as they reacted to the prevailing security situation after some #EndSARS protesters at Lekki Tollgate, Lagos were shot by the military on Tuesday.
The Nigerian Stock Exchange (NSE) All-Share Index declined by 0.75 per cent from 28.665.82 to 28,449.49, while market capitalisation shed N113 billion from N14.983 trillion to N14.870 trillion.
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The Inspector-General of Police, Mr. Mohammed Adamu, has ordered the withdrawal of all police officers attached to all very important personalities in the country with immediate effect.
He ordered the withdrawal of policemen attached to VIPs, with the exception of those attached to government houses, the Senate President and the Speaker House of Representatives.
He stated that any protect personnel found escorting or guarding any VIP with or without a firearm is deemed to be deployed by the commander and the commander will be sanctioned.
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The Economic Community of West African States (ECOWAS), has urged the Nigerian Government to conduct a speedy investigation in the shooting that occurred at the Lekki Toll Gate area of Lagos State.
The body in a statement on Wednesday expressed its condolences to the families and friends of those who lost their lives during the protests and also wished the injured speedy recovery.
ECOWAS added that while it recognises the right of citizens to freedom of expression and peaceful assembly and protests, it wishes that those rights be exercised in a non-violent manner.
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Socio-Economic Rights and Accountability Project has sent a petition to Mrs Fatou Bensouda, Prosecutor, International Criminal Court urging her to promptly investigate reports that Nigerian authorities and military used to intimidate, harass, attack and kill #EndSARS peaceful protesters in several parts of Nigeria, including Abuja, Lagos, Edo, Osun, Plateau, and Kano states.
SERAP urged Mrs Bensouda to push for those suspected to be responsible for these crimes to be tried by the ICC.
SERAP said the repeated attacks on peaceful protesters suggest the misuse of the military and security agents by the Nigerian authorities.
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The Nigeria Centre for Disease Control has confirmed 37 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 61,667.
The Nigeria Centre for Disease Control in a tweet showed that the 37 new cases are reported from 9 states.
FCT had eight cases, Lagos had seven cases, Taraba and Rivers had five cases each, Adamawa had four cases, Kaduna had three cases, Anambra and Osun had two cases each while Ogun had one case.
A total of 56,880 persons have recovered from the virus while the death toll now stands at 1125
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In this episode of Lagos Landlord, It has been designed to keep you informed on how you turn your home into a luxury space. I have my first ever guest on Lagos Landlord, my very good friend in addition to being the Creative Director and Founder of Grand Mejona Interiors. Daniella Enaohwo. She is a passionate young woman who is passionate about interior design solutions. I know this because she has provided her eloquent service to a couple of my clients.
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The FTSE 100 traded in the green on Monday, in line with its European peers boosted by hopes about further stimulus in the US after House Speaker Pelosi set a Tuesday deadline for the White House to agree on fiscal stimulus. Investors now await developments on Brexit after talks stalled last week and as the self-imposed October 15th deadline for the UK to leave the EU if no deal was reached expired.
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Stock futures in the US rose sharply on Monday, amid renewed hopes for new US fiscal stimulus, with House Speaker Nancy Pelosi’s office saying Saturday that she was giving the Trump administration 48 hours to reach an aid deal before the November 3rd election.
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The Chinese economy advanced 4.9% yoy in Q3 2020, faster than a 3.2% expansion in Q2 and compared with market consensus of a 5.2% growth. The country became the first major economy to report growth following the COVID-19 pandemic,
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Japan and Vietnam agreed on Monday to strengthen security and economic ties, including an agreement in principle for Japan to export military gear and technology to the Southeast Asian nation, amid concerns about China’s regional assertiveness.
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Israel and Bahrain have formally established diplomatic relations.
The deal brokered by the US was signed in the Bahrain capital, Manama, on Sunday.
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Facebook’s vice president Nick Clegg in an interview published Sunday said a total of 2.2 million ads on Facebook and Instagram have been rejected and 120,000 posts withdrawn for attempting to obstruct voting in the upcoming US presidential election.
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Kenya's health minister has warned that rising Covid-19 infections in the country could lead to a second wave of the pandemic.
Minister Mutahi Kagwe said infections spiked after President Uhuru Kenyatta announced further easing of restrictions.
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The Minister of Defence, Bashir Magashi has warned the protesters against breaching national security as the federal government is trying to placate protesters from continuing their protests for police reforms.
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The Nigeria Union of Traders Association in Ghana embarked on a protest at the weekend over Ghanaian authorities' delay to reopen shops owned by Nigerians in that country.
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The Inspector-General of Police, Mr. Mohammed Adamu, has listed the requirements of officers to be trained in the new police tactical team to replace the disbanded Special Anti-Robbery Squad as the training of selected officers for the Special Weapons and Tactics (SWAT) team begins today.
The IG reassured Nigerians that no ex-SARS operatives have been shortlisted in the SWAT team.
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President Muhammadu Buhari has met with the leaders of the National Assembly over the ongoing protests regarding the dissolution of the Special Anti-Robbery Squad.
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The Nigeria Centre for Disease Control has confirmed 113 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 61440.
The Nigeria Centre for Disease Control in a tweet showed that the 133 new cases are reported from 9 states.
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A U.S. judge in San Francisco on Thursday said she was not inclined to reverse her decision blocking the government from barring Apple Inc and Alphabet Inc's Google from offering WeChat for download in U.S. app stores.
U.S. Magistrate Judge Laurel Beeler said at a hearing that she did not think a new filing by the Justice Department changes the outcome or changes her analysis.
The Justice Department has appealed Beeler’s order to the 9th Circuit Court of Appeals, but no ruling is likely before December.
The Commerce Department order would also bar other U.S. transactions with Tencent Holding's WeChat, potentially making the app unusable in the United States.
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Thai Prime Minister Prayuth Chan-ocha on Friday said he was not quitting after tens of thousands of anti-government protesters defied a ban on demonstrations and he warned them not to persist.
The ban on gatherings of more than five people was imposed early on Thursday after nearly three months of protests that have called for a reduction in the powers of King Maha Vajiralongkorn’s monarchy as well as the removal of Prayuth.
Protesters defied the ban and staged one of the biggest demonstrations in Bangkok on Thursday evening.
He warned people not to violate the emergency measures, threating to us the law on them If they do anything wrong.
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Prime Minister Boris Johnson will on Friday give Britain’s response to the European Union’s demand that he either make more concessions to secure a trade deal or brace for a disorderly Brexit at the end of the year.
At the Brexit summit on Thursday, the EU delivered an ultimatum saying it was concerned by a lack of progress and called on London to yield on key sticking points or embrace a rupture of ties with the bloc from Jan. 1.
Britain’s chief negotiator, David Frost, said he was disappointed and surprised that the EU was no longer committed to working intensively for a deal.
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French judges have ordered that a Rwandan doctor, Eugene Rwamucyo, should be put on trial on charges of genocide and crimes against humanity.
Dr Rwamucyo, who is 61 and lives in Belgium, is accused of taking part in atrocities in Butare in southern Rwanda during the 1994 genocide.
The doctor's lawyer told the French news agency that his client rejected the allegations.
Dr Rwamucyo is expected to appeal against the decision, which would delay the trial for a further year.
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Zimbabwe says its annual inflation rate dropped by almost 180% last month, thanks to a stringent programme that included disrupting black market currency trading and cutting government salaries.
Despite the improvements, inflation remains above 600%, and food prices continue to rise.
The IMF says the economy could improve further, but it warns that without greater productivity and an increase in foreign currency earnings, long-term stability will remain elusive.
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The World Health Organization (WHO) has warned that Africa cannot afford a second wave of Covid-19, saying it would be devastating especially to the economy.
The warning comes as infections continue to spike in many countries that have recently been easing restrictions.
The health body said the virus will run out of control if African countries continued opening up without adequate interventions in place.
WHO Regional Director for Africa, Matshidiso Moeti, also said measures are in place to ensure the continent gets its fair share of any vaccine developed.
It also warned of a return to lockdowns - which the continent cannot afford.
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The UN's High Commissioner for Human Rights Michelle Bachelet has condemned a recently signed law in Nigeria's Kaduna state that introduced tough penalties for convicted rapists.
The law says males convicted of raping a child under the age of 14 should be surgically castrated and given the death penalty. Female adults convicted of raping a child will face salpingectomy (removal of fallopian tubes) and death.
Ms Bachelet said evidence had shown that the certainty of punishment deters crime, rather than its severity.
She added that Surgical castration and salpingectomy violate the absolute prohibition of torture and other cruel, inhuman or degrading treatment or punishment under international human rights law.
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Nigeria’s candidate for the leadership of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has called on multilateral institutions and developed countries to increase their support for low income countries, especially Africa, by providing more concessionary funding.
She said this on Thursday on the sidelines of the ongoing IMF/World Bank Annual meetings, at the CNBC Debate.
She also stressed the need for global collaborative efforts towards acquiring and distributing COVID-19 vaccines when they are ready.
She advised the developed countries to rethink their approach to global development because as long as people in developing countries and poor nations are unsafe, nobody in the developed countries will be safe.
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The Nigerian National Petroleum Corporation (NNPC) has released its 2019 audited financial statement, about five months after publishing its 2018 report, which was the first in its 43-year existence.
In the second audited financial statement made public on Thursday, the corporation achieved N801.3 billion reduction in its loss profile from a whopping N803 billion in 2018 to N1.7 billion in 2019. This represents a 99.7 percentage cut in its losses.
The corporation said when completed, the Asa North-Ohaji South (ANOH) gas project would be able to fuel power plants to generate approximately 2,400MW of electricity for the country.
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The Inspector-General of Police, IGP M.A Adamu, has warned all Police Officers across the country against the use of force on peaceful protesters.
In a communique by the police spokesman, DCP Frank Mba, the IGP noted that citizens have fundamental rights of freedom of expression, assembly, and movement which must always be upheld and protected by the police.
The boss on Thursday however appealed to protesters to continually conduct themselves peacefully and guide their ranks against infiltration by criminal elements.
He stressed that the Force leadership has clearly heard the voice of the people and is irrevocably committed to doing everything within its powers to address the observed ills, punish any offending officers and promote a people-friendly police force.
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A document obtained from the US Government website showed that Nigeria has been barred from the US visa lottery application for 2022.
In a 19-page document published on the website, Nigeria is the only African country barred from the visa lottery.
The statement said the Department of State determines selectees through a randomized computer drawing.
The Statement added that the Department of State distributes diversity visas among six geographic regions, and no single country may receive more than seven per cent of the available DVs in any one year.
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The Federal Government said all prospective corps members will undergo mandatory COVID-19 tests ahead of the reopening of orientation camps nationwide.
The FG said all National Youth Service Corps orientation camps would reopen effective November 10, 2020.
Mr. Sani Aliyu, the National Coordinator of the Presidential Task Force on COVID-19, stated this during a briefing in Abuja on Thursday.
He said guidelines have been developed with the NCDC (Nigeria Centre for Disease Control) and the NYSC in the preparation for the reopening of the orientation camps on the 10th of November, 2020.
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The Federation Accounts Allocation Committee (FAAC) has shared a total of N639.901 billion September 2020 federation account revenue to the Federal, States, and Local Government Councils and agencies.
This was announced the Permanent Secretary, Federal Ministry of Finance, Alhaji Aliyu Ahmed after the physical meeting of the Federation Account Allocation Committee (FAAC) for the month of October held at the Federal Ministry of Finance headquarters, Abuja.
The total distributable revenue of N639.901billion comprised statutory revenue of N341.501 billion; Value Added Tax (VAT) revenue of N141.858 billion; N39.542 billion from Forex Equalisation; N45 billion from Non-oil Excess Revenue and N72 billion Federal Government Intervention Revenue.
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The Nigeria Centre for Disease Control has confirmed 148 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 60,982.
The Nigeria Centre for Disease Control (NCDC) in a tweet on its official handle, showed that the 148 new cases were reported from 14 states.
Lagos had sixty-six cases, FCT had twenty-five cases, Oyo had thirteen cases, Plateau had eleven cases, Kaduna had seven cases, Rivers had six cases, Ebonyi had five cases, Ekiti and Ogun had four cases each, Imo and Ondo had two cases each, Edo, Nasarawa and Taraba had one case each.
A total of 52,194 persons have recovered from the virus while the death toll now stands at 1,116.
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Apple joined the move to 5G on Tuesday, unveiling four new iPhones which use the new standard in what could be a turning point for the high-speed wireless technology.
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Prime Minister Saara Kuugongelwa-Amadhila said Namibia's government will next week "give feedback" to the gender-based violence petition presented by demonstrators.
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Rwanda has approved the production and export of cannabis for medical use as a way of boosting its revenues.
A cabinet meeting held on Monday approved guidelines on cultivation, processing and export of high value therapeutic crops in Rwanda.
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Citizen newspaper reports that Facebook has launched several programmes to counter misinformation and election interference in Tanzanians ahead of the 28 October general election.
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The Minister of Agriculture and Rural Development, Mr. Muhammad Sabo Nanono, on Wednesday said the federal government planned to ban the importation of milk within the next two years.
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The International Monetary Fund (IMF) has predicted that Nigeria’s Gross Domestic Product (GDP) will contract by 4.3 per cent, which indicates an improvement compared with a negative GDP projection of 5.4 per cent it had predicted in its previous report in June.
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The House of Representatives has announced that it will be inaugurating a Special Committee on the Review of the 1999 Constitution on Thursday.
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The Nigerian Bar Association (NBA) has condemned the use of live ammunition by the Nigeria Police in the ongoing protests against police brutality in the country.
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A presidential panel on Tuesday approved the demands of #SARSMUSEND protesters, including halting the use of force against protesters and the unconditional release of arrested citizens.
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Inspector-General of Police, Mohammed Adamu, has ordered all personnel of the disbanded Special Anti-Robbery Squad (SARS) to report to the force headquarters in Abuja for debriefing, psychological and medical examination.
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The Nigeria Centre for Disease Control has confirmed 225 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 60,655.
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The unemployment rate in the UK increased to 4.5% in the three months to August from 4.1% in the previous period and above expectations of 4.3%. It was the highest jobless rate since the three months to May 2017, due to the coronavirus pandemic.
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The head of the International Monetary Fund on Monday said the international community must do more to tackle the economic fallout of the COVID-19 crisis, publicly calling on the World Bank to accelerate its lending to hard-hit African countries.
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World Bank President David Malpass on Monday said some G20 creditor countries are reluctant to broaden and extend another year of coronavirus debt service relief to the world’s poorest countries, so a six-month compromise may emerge this week.
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State-linked Liberia News Agency (LINA) has reported that Liberia's President George Weah has asked the US to help with investigations into the mysterious deaths of three senior officials in finance-related posts.
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The cabinet in Rwanda has reduced night-time curfew by two hours as the number of new coronavirus cases reduces.
The curfew will now run from 22:00 to 04:00 local time.
Public transport will operate at full capacity for sitting passengers and half capacity for standing passengers.
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The National Association of Seadogs (NAS), also known as Pyrates Confraternity, has called on the Lagos State Government to review the relevant environmental protection laws to adequately protect residents against frequent gas explosions in the metropolis.
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President Muhammadu Buhari on Tuesday in Abuja assured Nigeria’s former Minister of Finance, Dr. Ngozi Okonjo-Iweala, that the country would deploy its entire energy to ensure that she becomes the Director-General of World Trade Organisation (WTO).
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President of the Senate, Ahmad Lawan, has commended President Muhammadu Buhari and the Inspector-General of Police Mohammed Adamu for listening to the voice of the Nigerian people over their dissatisfaction with the operations of the Special Anti-Robbery Squad(SARS) of the Nigeria Police Force.
Lawan said with the courageous decision to dissolve the police unit, the President and his government have shown themselves as responsive to the feelings of the people.
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Former Vice President Atiku Abubakar has asked the Federal Government to reform the Nigeria Police Force by making it more civil.
He made this call in Minna on Monday after meeting with former military President, Ibrahim Babangida.
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Vice President Yemi Osinbajo, (SAN) has reacted to the disbandment of the Special Anti-Robbery Squad by the Inspector-General of Police Mohammed Adamu and the ongoing protest calling for an end and reform in the Nigerian Force Force.
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The Presidential Task Force on COVID-19 has asked Nigerians to minimise the risk of transmitting the virus in the country.
PTF Coordinator, Dr Sani Aliyu said this in Abuja on Monday while briefing reporters.
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The Nigeria Centre for Disease Control has confirmed 164 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 60,430.
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The Shanghai Composite Index surged over 2% Monday, after the People Bank of China tweaked foreign exchange policy. The central bank announced Saturday that financial institutions now no longer need to set aside cash when conducting some forex forwards trading. Stocks also jumped in Hong Kong while rose modestly in Australia. The Nikkei 225 fell, however, on concerns about upcoming earnings reports.
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The Chinese city of Qingdao is testing its entire population of nine million people for Covid-19 over a period of five days.
The mass testing comes after a dozen cases were found linked back to a hospital treating corona virus patients arriving from overseas.
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One of Senegal's most visited tourist sites, Gorée Island off Dakar, reopens to visitors on Monday.
A former hub of the trans-Atlantic slave trade, Gorée has been closed for six months because of the coronavirus pandemic, harming its economy.
A limited number of tourists daily may now visit the World Heritage Site, which was one of the first European settlements on the African continent.
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The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, has identified the Central Bank of Nigeria’s (CBN) restriction of domestic investors from participating in its open market operations (OMO) as well as the interest rate cut as policies that have continued to buoy the stock market performance.
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British Prime Minister Boris Johnson and Kenya’s President Uhuru Kenyatta are due to launch a call to action on Monday to raise $5bn (£3.8bn) for educating the most vulnerable children around the world.
The number of children out of school has risen sharply during the Covid-19 pandemic.
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Figures obtained from Nigeria Interbank Settlement System (NIBSS) showed that the total value of transactions in the country through electronic payment (e-Payment) channels, which included Point of Sale (PoS), the Automated Clearing House (ACH) and the Nigeria Inter-bank Settlement System Instant Payment (NIP) rose by 5.49 per cent to N17.3 trillion in September 2020, compared with the N16.4 trillion recorded in August.
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The federal government is seeking to retain the same Production Sharing Contract (PSC) terms, signed into law in 2019 by President Muhammadu Buhari, in the new Petroleum Industry Bill (PIB) before the National Assembly.
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The Lagos State Governor, Babajide Sanwo-Olu on Sunday said the disbandment of the Special Anti-Robbery Squad (SARS) is a victory for the Nigerian youths following nationwide protests against the squad.
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The Speaker of the House of Representatives, Mr Femi Gbajabiamila, has called on the Inspector-General of Police, Mohammed Adamu, to ensure officers of the Special Anti-robbery Squad (SARS) who are involved in human rights abuses are punished.
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The Inspector-General of Police, Mohammed Adamu, has dissolved the infamous subunit of the force, the Special Anti-robbery Squad Popularly called SARS.
The IGP on Sunday said the Special Anti-Robbery Squad of the Nigerian Police, otherwise known as SARS, is hereby dissolved across all formations, the 36 state police command and the Federal Capital Territory where they currently exist.
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The Nigeria Centre for Disease Control has confirmed 163 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 60,266.
The Nigeria Centre for Disease Control (NCDC) in a tweet on its official handle on Sunday night showed the new cases were recorded in 11 states with Lagos having the highest figure of 113 cases.
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South Korea’s central bank has agreed to renew a currency swap agreement with China, adding details including the extension period and size will be disclosed later.
The bank, on Thursday, said it reached a working-level agreement with the People’s Bank of China to extend the currency swap deal, and will announce details as soon as necessary procedures are completed.
The existing 56-billion-dollar currency swap deal was set to expire on Saturday.
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The United Kingdom has agreed to settle a lawsuit over how it selected an IT contract for coronavirus testing at its Lighthouse labs.
The settlement will cost the government up to 2 million pounds. British company Diagnostics AI claimed it lost out to a European rival UgenTec despite spotting some positive coronavirus cases its rival missed. It then sued the government over the decision, claiming the selection process was "unfair and unlawful".
The dispute was due to be played out in court. It would have meant a public examination of the accuracy and speed of the testing system, at a time when it has come under serious criticism. But the government has decided to settle the case and will pay Diagnostics AI compensation and most of its legal fees.
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Police in Ivory Coast have rescued 11 children and two teenagers working on cocoa plantations in the southwestern part of the country. The police commissioner, Luc Zaka, said three farmers were also arrested on suspicion of human trafficking.
Zaka said the children and arrests were made during an early operation in the two major cocoa-producing cities.
A report in June by the Swiss-based International Cocoa Initiative has shown that child labour increased in the world’s top cocoa producer during the coronavirus lockdown.
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Ethiopia's Prime Minister, Abiy Ahmed, has inaugurated a Chinese-built industrial park constructed at 60 million U.S. dollars. The Bahir Dar Industrial Park, located 552 km north of Ethiopia's capital Addis Ababa, was constructed by the China Civil Engineering Construction Corporation.
Speaking at the inaugural ceremony, the Ethiopian PM said the industrial park will help in knowledge transfer and boost the science capacity of Ethiopia in addition to creating job opportunities for thousands of Ethiopians.
The Ethiopian PM also said the BIP and other industrial parks are expected to create linkages with agro-industrial parks, as part of efforts to transform Ethiopia's agricultural sector.
Amhara Regional President, Temesgen Tiruneh, said the construction and commissioning of the Bahir Dar Industrial Park, will help Ethiopia earn much needed foreign exchange from exports.
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The former chief financial officer of a South African bank that collapsed after a huge corruption scandal has been jailed for 10 years.
Phillip Truter pleaded guilty to fraud and money laundering among other charges.
His former employer, VBS Mutual Bank, collapsed in 2018.
A central bank report says dozens of bank executives and politicians were accused of stealing 130 million dollars in a scam that stretched from impoverished rural villages all the way to the upper echelons of government. Truter's is the first conviction to follow the scandal.
Seven others, including the CEO, are still on trial.
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South Africa’s biggest trade union group, COSATU, has decried job losses, wage curbs and corruption cases in an outpouring of anger at how workers have been treated during the coronavirus crisis.
Members of the union federation expressed their grievances on Wednesday through organised motorcades, pickets and marches in the country’s nine provinces.
The union accused policymakers of presiding over “flagrant theft of taxpayer funds” after a spate of scandals.
President Cyril Ramaphosa has said his government is finalising an economic recovery plan to stimulate a rebound in employment and has promised tough action to deal with those implicated in corruption.
COSATU Secretary in KwazuluNatal, Edwin Mkhize, commended members for the huge turnout.
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The mayor of Tunisia's capital, Tunis, has said a night-time curfew will be reinstated for two weeks in a series of restrictions intended to control the spread of coronavirus, which has significantly risen in recent weeks.
The curfew will also be imposed in the neighbouring provinces of Manouba, Ariana, and Ben Arous.
On his part, the governor of Tunis said the 15-day night curfew will start on Thursday. It will run from 21:00 to 05:00 local time on weekdays, and 19:00 to 05:00 local time on weekends.
Weekly markets and Friday prayers have also been banned, and cafes and restaurants can no longer have seated areas.
The mayors of four other Tunisian cities, which have also seen a significant rise in Covid-19 cases, have also recently imposed a night curfew.
Since July there were only a few soft measures in place to control the rate of infection in Tunisia. But in the past month alone, more than 20,000 people have tested positive for Covid-19. The Tunisian government has so far ruled out a return to a nationwide lockdown that was imposed earlier this year, when it shut down its economy and borders, and imposed severe restrictions on movement.
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Doctors in Tunisia will issue recovery certificates for cured COVID-19 patients so that they can resume work. This is according to the director general of the Pasteur Institute of Tunis, Hechmi Louzir.
During a press conference, Louzir clarified that recovered cases of the coronavirus will no longer be required to carry out another test to resume work. The health official noted that scientific studies have shown that in 10 days after the first positive test result, an asymptomatic case is completely cured and is no longer contaminating.
He added that for symptomatic cases, three days after the disappearance of the symptoms, mainly fever, the subject is completely cured.
Tunisian Health Ministry on Wednesday reported 2,312 new COVID-19 cases, raising the total number of infections to 24,542 with 364 deaths in the country.
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Morocco has reported 2,776 new COVID-19 cases, the biggest single-day increase so far. This takes the number of infections in the country since March 2 to 140,024.
In a statement, the Ministry of Health says the total number of recoveries from COVID-19 in Morocco increased to 118,142 after 2,788 new ones were added.
The death toll rose to 2,439 with 29 new fatalities, while 424 people are in intensive care units.
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Figures have shown the 36 Nigerian states and the Federal Capital Territory generated 162.87 billion naira in the first six months of the year.
This was contained in a report by the National Bureau of Statistics showing the Internally Generated Revenue at State level for Half Year 2020. According to the report, the “36 states and FCT internally generated revenue of 612.87 billion naira in the first half of 2020, compared to 693.91 billion naira recorded in 2019.
The NBS noted that this indicates a negative growth of -11.7 per cent yearly.
It added that similarly, Q2 2020 states and FCT IGR was 259.73 billion naira compared to 353.14 billion naira recorded in Q1 2020.
The NBS said this indicates a negative growth of -26.5 per cent quarter on quarter.
According to the report, Lagos State recorded the highest IGR with 204.51 billion naira in H1 2020, followed by Rivers State with 64.59 billion naira while Jigawa State recorded the least IGR.
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Aviation unions have threatened to go on strike in seven days over shortfalls in salary payments to workers of the Federal Airports Authority of Nigeria.
In a letter addressed to the Managing Director of FAAN, Captain Rabiu Yadudu, the workers said the increasing delays and staggering of salary payment had become unbearable.
The statement was jointly signed by the National Union of Air Transports Employees, Air Transport Services Senior Association of Nigeria and Association of Nigeria Aviation Professionals. The workers demanded full payment of all outstanding co-operatives funds, pensions, tax and allowances.
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Nigeria's Minister of State for Education, Chukwuemeka Nwajiuba, says professors in the country receive a large portion of the nation's education budget. Nwajiuba stated this while reacting to the recent industrial action by the Academic Staff Union of Universities. According to him, the bulk of the money being budgeted for education is paid to the 10,500 professors, out of the 71,000 lecturers in Nigeria.
Faulting ASUU’s request for more funds, the minister said the union should realise that no sector in the country was getting enough money.
He also said the union’s penchant for strike was driving public school students abroad and to private universities.
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Nigeria's former Minister of Finance, Ngozi Okonjo-Iweala, is set to be announced on Thursday as one of the final two candidates from a shortlist of five to lead the World Trade Organisation.
Reports suggest the two finalists are Okonjo-Iweala of Nigeria and Yoo Myung-he of South Korea.
The WTO has never been led by a woman or an African. The hope is that having an African head the organisation could boost the continent’s trade, which has stagnated at 2% to 3% of the global average. The successful candidate is expected to be announced next month.
The new director general will have to deal with the US-China trade dispute and increased global protectionism.
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The number of people infected with the coronavirus across the world surpassed 35.8 million, of which at least 1.04 million people have died and 24.98 million have recovered, according to data released by the Johns Hopkins University. In the US, the epicenter of the disease, the number of infections rose by 43.2 thousand in the last 24 hours to 7.5 million, while India reported 72 thousand new cases to 6.75 million and Brazil 41.9 thousand to 4.96 million
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Taiwan defence minister on Wednesday said the country has spent almost $900 million this year on scrambling its air force against Chinese incursions, describing the pressure they are facing as great.
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The UK Guardian reports that Credit Suisse, a leading investment bank, has apologised for any offence caused after the New York Times reported that its former CEO, who is from Ivory Coast, left his chairman’s birthday party when a black performer dressed as a janitor danced on stage.
The New York Times reports that interviews with sources suggest that race contributed to Mr Thiam's departure.
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The United Nations Office for Coordination of Humanitarian Affairs (OCHA) said nearly one million people are now known to have been affected by flooding in South Sudan.
OCHA says an estimated 800,000 people who have been affected are in areas along the White Nile.
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The health authority overseeing Mozambique's capital, Maputo, has said an investigation will be opened following reports of an ongoing trade in documents certifying a negative result for Covid-19.
Mozambique and neighbouring South Africa require travellers to present a Covid-19 free certificate from a test taken 72 hours before travel.
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A virtual summit of countries in the Great Lakes region is expected to take place on Wednesday following several postponements amid rising diplomatic tensions.
Rwanda declined to participate in the summit initially planned for 14 September after the Democratic Republic of Congo summoned its envoy for allegedly downplaying his country’s role in 1998 killings in the eastern region of Kasiki.
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The Nigerian National Petroleum Corporation (NNPC) has revealed a plan to end the country’s oil-for-fuel swaps system as soon as local refining capacity improves by 2023.
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The Central Bank of Nigeria (CBN) on Tuesday threatened to sanction shipping and airline companies that continue to flout its stipulated guidelines on exports.
The central bank stated this in a circular titled Compliance with Export Procedures in Nigeria, signed by its Director, Trade and Exchange Department, Dr. Ozoemena Nnaji, a copy of which was posted on its website.
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The National Bureau of Statistics said the total value of Internally Ge;nerated Revenue (IGR) by the 36 States of the federation and Federal Capital Territory (FCT) declined to N612.87 billion in the first half of the year (H1 2020) compared to N693.91 billion recorded in H1, 2019.
This indicated a decline of 11.7 per cent or N81.04 billion year-on-year.
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The Nigeria Centre for Disease Control has confirmed 118 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 59,583.
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The Trump campaign on Monday ran a series of attack ads against Joe Biden.
One accused the Democrats of blatant corruption.
Biden's team has been removing attack ads since Mr Trump went into hospital.
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Chancellor Rishi Sunak has defended England's 10pm closure time for pubs and restaurants, saying it was better than having places closed.
He told BBC Breakfast that the curfew was something they were told by their advisers could well make a difference to the spread of the transmission.
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The Trump campaign on Monday ran a series of attack ads against Joe Biden.
One accused the Democrats of blatant corruption.
Biden's team has been removing attack ads since Mr Trump went into hospital.
The Democrats don't want to be seen running personal attacks on a sick President.
Trump's team has however continued to run attack ads.
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Paris bars and cafes will shut for two weeks as the city and its region were placed on maximum alert Monday, with Europe facing a second wave of the coronavirus pandemic and the hospitalisation of President Donald Trump throwing the US election campaign into a tailspin.
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Hundreds of Algerians defied a nationwide ban on protests and took to the streets Monday to demand democratic change and mark the anniversary of 1988 demonstrations that ushered in reforms.
An AFP reporter said around 400 to 500 demonstrators in Algiers tried to march to the city centre but were dispersed by police who made a number of arrests.
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Schools in South Sudan have officially reopened today after more than six months since they were closed in March as a measure to curb the spread of Covid-19.
President Salva Kiir ordered the resumption of schools and universities as the country continues to experience a significant reduction in coronavirus infections.
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Ethiopia's President Sahle-Work Zewde has promised that the upcoming election to hold before September next year will be free and fair
The president said some reforms had been done on the electoral commission to ensure its independence.
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Madagascar's President Andry Rajoelina has lifted a curfew imposed to curb the spread of coronavirus.
The president announced that sporting activities would be allowed but with an audience of not more than 200 people.
Passengers boarding domestic flights will be required to take a coronavirus test 48 hours before departure and will only be allowed to board if the test in negative.
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The European Union (EU) governments on Monday expressed support for Dr. Ngozi Okonjo-Iweala, Nigeria’s candidate for the position of the Director-General (DG) of the World Trade Organisation (WTO) as the race enters the final month.
Bloomberg also disclosed that the EU governments selected the South Korean candidate, Yoo Myung-hee, who is the country’s trade minister, as the second contender for the job, the bloc would be supporting.
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The Inspector-General of Police, IGP Mohammed Adamu, has reaffirmed his commitment to the ongoing reforms in the Nigeria Police Force especially as it concerns the activities of the Federal Anti-robbery Squad (FSARS) and other Special Tactical Units of the Force.
The IGP made this known during a courtesy call on him by the Honourable Minister of Youth and Sports, Mr. Sunday Dare on Monday, 5th October 2020, at the Force Headquarters, Louis Edet House, Abuja.
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President Muhammadu Buhari has appealed to Nigerians to be patient and seek reform of some laws of the land which they have misgivings about, in line with democratic practices.
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The Nigeria Centre for Disease Control has confirmed 120 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 59,465.
The Nigeria Centre for Disease Control (NCDC) in a tweet on its official handle, showed that the new cases were recorded in 13 states.
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Paris was preparing on Sunday to be placed under maximum coronavirus alert as alarming Covid-19 infection numbers appeared to leave the French government little choice but to tighten restrictions in and around the capital.
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The US government has termed the establishment of a transitional government in Mali an initial step toward a return to democracy.
The US State Department spokesperson Morgan Ortagus urged the transitional government to honour the promise of holding elections within 18 months.
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Ethiopia has banned flights in its airspace over the Grand Ethiopian Renaissance Dam (GERD) for security reasons.
The director-general of the Ethiopian Civil Aviation, Col Wesenyeleh Hunegnaw, told Reporter that following consultations with relevant security organs, the airspace in Benishangul-Gumuz Regional State [north-western Ethiopia] where the dam is being built is closed to all flights.
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The Rector of International Aviation College, Ilorin and former acting Director General of the Nigerian Civil Aviation Authority (NCAA), Benedict Adeyileka has said two key ways the federal government can revamp the aviation industry are to overhaul the policies that guide the sector and to ensure the implementation of those policies.
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The Nigerian Civil Aviation Authority (NCAA) has issued Operational Specifications and Air Operator’s Certificate (AOC) to Elin Group Limited, after the company met all the requirements to commence charter operations.
NCAA presented Elin Group’s Chief Operating Officer/Accountable Manager, Mr. Enyi Omoke the certificate to start flight service.
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The Petroleum Industry Bill (PIB) has proposed that the host communities will receive 2.5 per cent fund on the basis of the oil companies’ actual operating expenditure for the preceding year.
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The Inspector-General of Police, Mohammed Adamu, has banned the personnel of the Federal Special Anti-Robbery Squad (FSARS) and other Tactical Squads of the Force from embarking on routine patrols.
This IGP’s ban was contained in a statement issued on Sunday by the Force, Public Relations Officer, Frank Mba.
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Nigeria Records 58 New COVID-19 Cases
The Nigeria Centre for Disease Control has confirmed 58 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 59,345.
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The dollar index traded near the flatline around 93.8 on Friday and close to a 2-week low of 93.656, as investors digest the latest developments in the US presidential election and as uncertainties about the new fiscal stimulus mount. President Trump tested positive for coronavirus, sending him to quarantine just weeks before the election. The House of Representatives approved the $2.2 trillion coronavirus aid bill from the Democrats but the plan is more likely to be rejected in the Senate. On the week, the dollar is on track to lose near 0.9%.
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Crude oil futures dropped as much as 3% to trade around a two-week low of $37.7 a barrel on Friday, heading for its second weekly loss after US President Donald Trump tested positive for COVID-19 raising worries about the impact in the outcome of presidential elections. Prices were already under pressure amid mounting concerns over fuel demand recovery as the number of coronavirus infections continue to rise worldwide including major economies like the US, the UK, Germany and France. Also, supply worries on the back of the resumption of Libyan exports weighted on sentiment.
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Major stock markets around the world and US futures were down on Friday after President Donald Trump tested positive for COVID-19, sending him to quarantine just weeks before the November 3rd presidential election. Investors worry about the impact it will have on the election outcome as Trump will be isolated during most of the campaign reinforcing the coronavirus crisis as one of the main themes for the campaign.
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Armenia’s foreign ministry on Friday said it was ready to engage with the Organization for Security and Cooperation in Europe (OSCE) to re-establish a ceasefire in Nagorno-Karabakh, where fighting has been raging since Sunday.
France, Russia and the United States, co-chairs of the OSCE’s Minsk Group, set up in 1992 to mediate in the conflict between Azerbaijan and ethnic Armenians over the mountainous enclave in the South Caucasus, called for an immediate ceasefire on Thursday.
Turkey however said the three big powers should have no role in peace moves.
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US airlines have begun laying off thousands of workers after efforts to negotiate a new economic relief plan in Congress stalled.
American Airlines says it shedding 19,000 workers and United Airlines 13,000.
The carriers - badly hit by the coronavirus pandemic - say they are ready to reverse the decisions if more financing is found.
The airlines have received billions of dollars from the federal government.
Congress agreed the aid agreed earlier in the year as part of the Coronavirus Aid, Relief, and Economic Security Act [Cares Act]. It was conditional that the carriers did not lay off workers until 1 October.
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The EU says it could impose sanctions on Turkey over provocations and pressures in a row with Greece over energy resources and maritime borders.
European Commission President Ursula von der Leyen called on Ankara to abstain from unilateral actions in the eastern Mediterranean.
She spoke early on Friday during a meeting of EU leaders in Brussels.
Turkey and Greece had earlier set up a military hotline to try to reduce the risk of clashes in the region.
Tensions rose earlier this year when Turkey sent a ship into a disputed area to search for potentially rich oil and gas deposits.
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Canada on Thursday announced billions of dollars in spending on infrastructure projects that will support a transition to a low-carbon economy during pandemic recovery and create 60,000 jobs over three years.
The government’s nascent Canada Infrastructure Bank will oversee the spending, which totals Can$10 billion (US$7.5 billion) and is meant to fund electric buses, renewable power generation and building retrofits.
It is hoped the projects will also attract private investment.
Infrastructure Minister Catherine McKenna told a news conference that families and businesses want to locate and build where they know infrastructure is modern, clean and resilient.
He added that the infrastructure money will also go to connect about 750,000 homes and small businesses to broadband in underserved communities and to irrigate 700,000 more acres (283,300 hectares) of land to allow Canadian farmers to produce more food.
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Spain’s government on Thursday published a decree extending drastic restrictions across the capital with partial lockdown measures to come into play within 48 hours, despite fierce opposition from Madrid’s regional authorities.
The government of Socialist Prime Minister Pedro Sanchez on Wednesday evening said it had reached an agreement with most of Spain’s regions on the imposition of tough restrictions in areas where the virus is spreading rapidly.
Madrid leader Isabel Diaz Ayuso told EsRadio on Thursday said the government and the regions cannot impose anything on us and certainly no like this.
The decree stated that the agreement is obligatory for all regions within a maximum of 48 hours.
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US President Donald Trump and his wife, Melania, have contracted COVID-19, with the US leader taking to social media on Friday to confirm the development.
The extraordinary setback for Trump had immediate political consequences just 31 days before election day, forcing him to cancel campaign trips and adding new volatility to a contest already steeped in tension.
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The UN Food and Agriculture Organization says the record floods in Sudan have affected nearly one third of cultivated land, and close to 600,000 households.
Over a million tonnes of grain have been destroyed, particularly sorghum, which is a staple crop, and many families are having to cut down to one small meal a day.
Incomes have been affected too, as commercial crops including bananas and mangoes have also been badly hit.
The FAO says that the locust storms which have devastated crops in the Horn of Africa also still threaten the country.
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A report by France 24 showed that Kenya's President Uhuru Kenyatta said he would not approve US drone strikes on al-Shabab militants on Kenyan soil.
The president, who is on a state visit to France, said he had not yet received such a request.
The New York Times had last month quoted unnamed US government sources as saying that the US military was seeking approval to carry out drone strikes against al-Shabab targets in eastern Kenya.
The report came days before a military court in Somalia sentenced an Islamist militant to life in prison for his role in a deadly attack on a US base in Kenya.
The US often carries out air strikes in Somalia to target al-Shabab militants.
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The Bureau of Public Enterprises (BPE) is to readjust its timelines for the privatisation of some of the 19 government-owned companies slated for sale in 2020 due to the impact of the COVID-19 pandemic.
The agency had earlier slated 19 enterprises for privatisation with estimated proceeds in excess of N260 billion.
the BPE Director-General, Mr. Alex Okoh, stated that due to the disruptions engendered by the pandemic, it was unlikely for the agency to conclude transactions on all the entities slated for privatisation this year.
The privatisation proceeds are factored into the financing the 2020 budget.
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President Muhammadu Buhari has defended the current price of fuel in the country, stating that a responsible government must face realities.
President Buhari in his Independence Day Speech stated that while petroleum prices are to be adjusted, the government must take tough decisions.
The president compared the oil price in Nigeria to those of neighbouring countries, arguing that it makes no sense for oil to be cheaper in Nigeria than it is in other oil-producing nations.
The president called for a sincere process of national healing as the nation marks the 60th anniversary of its independence from Great Britain.
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The Nigeria Centre for Disease Control has confirmed 153 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 59,001.
The Nigeria Centre for Disease Control (NCDC) in a tweet on its official handle, showed that the new cases reported on Thursday were from 14 states.
Lagos had Eighty-one case, Rivers had twenty-one cases, (21), FCT had eleven cases, Ogun had eight case, Kaduna had seven case, Oyo had six case, Akwa Ibom had five case, Osun and Katsina had three cases each, Edo, Ebonyi Nasarawa had two cases while Plateau and Kano had one case each.
A total of 50,452 persons have recovered from the virus while the death toll now stands at 1,112.
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Exports from South Korea jumped 7.7 percent from a year earlier to USD 48 billion in September 2020, the first time increase in seven months and the strongest growth since October 2018, and beating market expectations of a 2 percent rise, as more countries gradually reopen the economy, after the loosening of restriction measures to combat the spread of the coronavirus.
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Oil prices fell on Thursday amid fears over rising global COVID-19 infections, which could slow a recovery in fuel demand. Reuters reported that concerns were growing in New York, where virus cases continued to climb. The pandemic so far has infected more than 7.2 million and killed more than 206 thousand in the US.
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The IHS Markit Russia Manufacturing PMI declined to 48.9 in September 2020 from 51.1 in the previous month. The renewed contraction as driven by a drop in new orders, as client demand weakened. The rate of contraction was solid overall and the fastest since June. Meantime, output increased to the second fastest since April 2019, as firms resumed operations following the loosening of restriction measures.
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European Union leaders will try to break a stalemate over Belarus on Thursday by untangling a separate standoff with Turkey that has exposed the paralysis in the bloc’s decision-making.
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UN Secretary-General Antonio Guterres on Wednesday called for an immediate infusion of $15 billion to a global pool for the procurement and distribution of COVID-19 vaccines at a virtual summit hosted by the world body.
Notable new pledges included an additional 100 million euros ($117 million) by German Chancellor Angela Merkel, beyond the 675 million euros Germany has already committed.
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The World Health Organization's regional director for Africa, Matshidiso Moeti, has said allegations that aid workers sexually abused women while tackling an Ebola outbreak in the Democratic Republic of Congo are heartbreaking.
She said she will ensure a timely, fair and transparent investigation and that those found to have been involved will face serious consequences.
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South Africa has opened its borders to travellers from all African countries, but has retained restrictions against countries with higher coronavirus infection rates including the UK, the US and Russia.
The country will from Thursday reopen some land borders and its three main airports in Cape Town, Durban and Johannesburg.
The Foreign Minister, Naledi Pandor, said all arriving travellers must produce a Covid-19 testing certificate from their countries and will be screened on arrival.
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Kenya recent audit report showed that the country lost 2.3bn Kenyan shillings ($21m; £16m) during the procurement of Covid-19 items.
The Auditor General, Nancy Gathangu, said managers at the state body responsible for purchases, the Kenya Medical Supply Authority (Kemsa) violated procurement rules leading to loss of public money.
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The federal government on Wednesday said that it could not continue to shoulder the burden of paying subsidy in the country’s electricity sector, noting that it had paid over N1.5 trillion to subsidise the sector in the last four years.
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The Federal Government has agreed to lift the ban placed on Emirates Airlines, which prevented it from operating in and out of the country.
The Director, Public Affairs, Ministry of Aviation, James Odaudu on Wednesday in a statement said the development was based on an undertaking by the authorities of the United Arabs Emirates (UAE).
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The Federal Executive Council meeting ended on Wednesday with a budget estimate of N13.08trn projected for the 2021 fiscal year.
The Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed this to journalists at the Presidential Villa.
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President Muhammadu Buhari on Thursday said the destination targeted by Nigeria’s founders was to build a great nation, united in hope and equal in opportunities.
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The Nigeria Centre for Disease Control has confirmed 201 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 58,848.
T
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A new report by the UN agency for trade and development (UNCTAD) estimates that Africa lost $836bn (£650bn) in illegal movement of money out of the continent in the 15 years to 2015.
The reports that compared with Africa’s total external debt of $770bn in 2018, this makes Africa a net creditor to the world.
services like healthcare, education, and infrastructure.
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The federal government has launched a Digital Nigeria Portal and Mobile Application in furtherance of the Digital Nigeria Programme, which was kick-started by President Muhammadu Buhari, in March 19, 2020.
The Minister of Communications and Digital Economy (FMCDE), Dr. Isa Pantami, performed the virtual launch of the mobile application on Monday in Abuja.
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The Independent National Electoral Commission (INEC) has commenced replacing manual voting with automated voting system, as part of the efforts to migrate fully to electronic voting as soon as enabling legislation is put in place.
The National Chairman of INEC, Prof. Mahmood Yakubu, who disclosed this on Monday in Abuja, assured Nigerians that the commission has taken another decisive step towards the full automation of the electoral process.
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The National Assembly is currently meeting with the Nigerian National Petroleum Corporation (NNPC) over the Petroleum Industry Bill.
The meeting is to discuss the essence and focus of the PIB sent to the National Assembly.
Lawan said President Muhammadu Buhari’s letter containing the PIB will be read on the floor of both chambers when the National Assembly resumes plenary session tomorrow.
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The 36 states of the Federation on Monday took the Federal Government to the Supreme Court, challenging the presidential executive order signed in May by President Muhammadu Buhari.
The states are seeking an order of the Supreme Court to quash President Buhari’s executive order on the funding of courts, which he signed on May 20.
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Nigeria on Monday reported 136 fresh COVID-19 cases.
This is according to the latest update released by the Nigeria Centre for Disease Control (NCDC).
The new infections were reported in 12 states of the federation and the Federal Capital Territory (FCT).
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The British government is planning to enforce a total social lockdown across a majority of northern Britain and potentially London, to combat a second wave of COVID-19, The Times reported late on Sunday.
The report said under the new lockdown measures being considered, all pubs, restaurants and bars would be ordered to shut for two weeks initially.
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Data from the health ministry on Monday showed India’s coronavirus case tally topped 6 million after it reported 82,170 new infections in the last 24 hours.
The ministry said Deaths from COVID-19 rose by 1,039 in the last 24 hours to 95,542, which is 1.6% of total cases.
Globally, India has the second-highest number of coronavirus cases, behind the United States where infections crossed 7 million last week.
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China’s capital Beijing on Sunday said it will protect whistleblowers who disclose information about public health emergencies, part of the country’s efforts to fix some of the systemic faults that hindered its initial response to the COVID-19 outbreak.
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President Donald Trump on Sunday demanded that his Democratic rival Joe Biden take a drug test for their first debate, which will bring them face to face for the first time in the volatile US presidential campaign.
Tuesday’s clash, coming as Biden leads the charge against Trump’s bid to install conservative Amy Coney Barrett in the late Ruth Bader Ginsburg’s lifetime seat on the Supreme Coart, will thrust the nail-biting contest into a fierce new stage.
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Mali's State television on Sunday announced that transitional President Bah Ndaw has named a new civilian prime minister.
Mr Ndaw appointed former diplomat Moctar Ouane to the position.
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France’s top medical figures on Sunday warned that France will face a months-long coronavirus epidemic that will overwhelm its health system if something does not change.
Patrick Bouet, head of the National Council of the Order of Doctors, told the weekly Journal du Dimanche that the second wave is arriving faster than we thought.
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The special UN envoy for West Africa has urged peaceful elections in Ivory Coast at the end of a week-long visit.
Mohamed Ibn Chambas met President Alassane Ouattara who is running for a third term after his preferred successor died. The elections are scheduled for 31 October.
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The Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), Prof. Mojisola Adeyeye, has announced the agency’s readiness to eliminate substandard and falsified medicines in the country through partnership with pre-shipment agents in China and India.
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The Nigerian equities market gained a record N350 billion last week as investors swooped on stocks in search of higher returns following a cut in the Monetary Policy Rate (MPR) by the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN).
The CBN’s MPC last week had resolved to reduce the MPR by 100 basis points to 11.5 per cent from 12.5 per cent.
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Nigerian labour Congress has suspended its strike scheduled for Monday after a meeting between labour leaders and the Federal Government.
This was contained in a communique read by the Minister of Labour and Employment, Dr Chris Ngige, after a technical session that started late on Sunday and lasted till the early hours of Monday morning.
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The Nigeria Centre for Disease Control has confirmed 126 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 58,324.
The Nigeria Centre for Disease Control (NCDC) in a tweet on its official handle, tweeted on Sunday evening that the new cases were confirmed from eleven states and the Federal Capital Territory (FCT).
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The United States, China and Russia fought on Thursday during a United Nations Security Council meeting on the coronavirus pandemic as United Nations chief Antonio Guterres told the body that they had failed in their handling of COVID-19.
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The United States on Thursday said it would provide more than $720 million in humanitarian assistance in response to the crisis in Syria, plus nearly $152 million for Africa’s Sahel region and almost $108 million for South Sudan.
Deputy Secretary of State Stephen Biegun made the announcement on Syria at an event on the sidelines of the U.N. General Assembly in New York. He said the money would go both for Syrians inside the country and for those in desperate need across the region.
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The United States on Thursday blacklisted several Iranian officials and entities over alleged gross violations of human rights, including slapping sanctions on a judge it said was involved in the case of an Iranian wrestler sentenced to death.
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A human rights group has accused Uganda of channelling gold mined in the Democratic Republic of Congo that funds conflict, but the authorities insist that refiners are not processing metal from illicit sources.
Ugandan gold exports have more than doubled in one year, fuelling the concerns. Its biggest market is the United Arab Emirates, having overtaken countries of the East African Community.
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Mali's new president will be sworn into office on Friday, five weeks after the overthrow of Ibrahim Boubacar Keïta.
Bah Ndaw, a former defence minister, was picked by the coup leader, Colonel Assimi Goita, to head a transitional government until elections are held.
Col Goita will be his vice-president.
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The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) on Thursday lamented its huge losses to the tune of N320 billion as a result of the control of the prices of products by the federal government.
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The Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) on Thursday lamented its huge losses to the tune of N320 billion as a result of the control of the prices of products by the federal government.
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President Muhammadu Buhari on Thursday said the law would boost the fight against corruption in Nigeria following the controversies trailing the enactment of Companies and Allied Matters Act 2020 (CAMA), explaining that it would enhance transparency and corporate accountability
The president has also pledged that Nigeria would continue to assist Guinea-Bissau in any way possible, saying a peaceful and prosperous Guinea-Bissau is a win for West Africa and for Africa.
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President Muhammadu Buhari on Thursday said the law would boost the fight against corruption in Nigeria following the controversies trailing the enactment of Companies and Allied Matters Act 2020 (CAMA), explaining that it would enhance transparency and corporate accountability
The president has also pledged that Nigeria would continue to assist Guinea-Bissau in any way possible, saying a peaceful and prosperous Guinea-Bissau is a win for West Africa and for Africa.
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The Economic and Financial Crimes Commission (EFCC), has recovered over N4.16 billion from lottery companies, being revenue owed to the government, which they refused to remit.
The Acting EFCC Chairman, Mohammed Umar Abbah, in a statement issued on Thursday disclosed this while receiving a delegation from the Ministerial Task Force for recovery of unpaid revenues from lottery businesses, led by its chairman, Willaims Alo.
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The Nigeria Centre for Disease Control has confirmed 125 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 57,849.
The Nigeria Centre for Disease Control (NCDC) disclosed the latest COVID-19 infections in a tweet on its handle on Thursday.
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Oil prices dropped on Thursday, amid a rally in the dollar and concerns about deteriorating fuel demand as global COVID-19 infections linger. In Europe, a fresh wave of virus cases prompted authorities to reintroduce travel restrictions. Investors were also nervous after the Federal Reserve chair Jerome Powell warned that the US economic recovery may come to a halt without additional fiscal stimulus. At around 03:45 AM GMT, US WTI crude fell by 1.3% to $39.43 a barrel, while Brent crude declined 1% to $41.35 a barrel. On Wednesday, both benchmarks rose slightly after government data showed US crude and fuel inventories declined last week. Meantime, the EIA data pointed that US crude inventories fell for the second straight week, by 1.6 million barrels for the week ended September 18th.
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In South Korea, the benchmark KOSPI closed down 60.54 points, or 2.59 percent, at 2,272.70, its lowest since August 3. Market heavyweight Samsung Electronics led the losses, closing 1.4% weaker. Hyundai Motor fell 4.5 percent while biopharmaceutical firm Celltrion dropped 6 percent. Foreigners were net sellers of 195.9 billion won worth of shares on the main board.
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The Shanghai Composite lost 56.53 points or 1.72% to 3223.18 on Thursday after a gain of 0.17% in the previous session. Investors retreated following an overnight sell-off in US equities amid fears that policymakers are not doing enough to support further economic recovery.
In addition, data showed that business activity in the US and Europe slowed in the latest month amid an uptick in daily novel coronavirus infection rates.
Meanwhile, the Hang Seng Index echoed sentiment, falling 428.55 points or 1.8% to 23,313.96, with Wuxi Biologics losing 2.58% and smartphone maker Xiaomi topping the list of decliners with a loss of 4.46%.
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Australia's Westpac bank has negotiated to pay a record 1.3 billion-Australian-dollar fine for the nation's biggest breach of money laundering laws.
Australia's financial crime watchdog, last year, said the bank had failed to adequately report over 19 million international transactions.
Officials said some payments were potentially linked to child exploitation.
The nation's second-biggest lender has apologised for its failings.
Westpac is the second top Australian bank to pay huge fines for breaching anti-money laundering and counter-terrorism financing laws.
If the billion-dollar fine is approved by a court, it will be the largest civil penalty in Australian corporate history.
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Major European bourses traded in the red on Thursday, reversing gains from the previous session amid renewed concerns about the need for further lockdowns as the number of coronavirus infections continues to rise in the continent.
Investors also digest recent warnings from Federal Reserve officials about a slowing economic recovery and the need of further fiscal support.
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Major carmakers are suing the US government over import taxes it has imposed on Chinese parts.
A number of lawsuits are reported to have been filed by carmakers in the past few days in the New York-based Court of International Trade.
Mercedes-Benz, in its filing, accused the Trump administration of prosecuting an unprecedented, unbounded, and unlimited trade war impacting over 500-billion-dollars in imports from the People's Republic of China".
The filing said Tesla, in its filing, called the tariffs arbitrary, capricious, and an abuse of discretion.
Founder Elon Musk wants the tariffs cancelled along with a refund, with interest of import taxes paid.
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A Commonwealth Heads of Government Meeting, that was postponed in April due to the coronavirus pandemic, will now be held in June next year in Rwanda's capital, Kigali.
The bi-ennial meeting is the Commonwealth’s highest consultative and policy-making gathering. It will be held in the week of 21 June 2021.
The Commonwealth secretariat said member countries had agreed on the new date.
In a statement, Commonwealth secretary-general, Patricia Scotland, said the meeting in Rwanda will provide a real opportunity to focus on post Covid recovery.
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The head of Mali's customs agency lobby says the country faces “economic paralysis” if sanctions imposed by ECOWAS after a military coup are not lifted in coming days.
President of the Malian Council of Shippers, Ousmane Babalaye Daou, said imports of goods into the country have dropped 30 percent since ECOWAS closed its borders with Mali and halted financial flows after the August 18 takeover.
Mali imports 5 million tonnes of goods every year, from woven cotton to cement, some of which arrived at ports across West Africa and are trucked hundred of miles inland.
Essential imports, including petrol, food and medicine are, however, exempt from the sanctions.
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West African leaders have indicated they might lift the sanctions they have imposed on Mali following last month's coup.
Their envoy, the former Nigerian President, Goodluck Jonathan, disclosed this on arrival in Mali, adding that the military officers who overthrew President Ibrahim Boubacar Keïta were acceding to international calls for a transition to civilian rule.
His comments suggest the West African regional body, Ecowas, could accept the appointment of a former defence minister, Bah Ndaw, as interim president, with the coup leader, Colonel Assimi Goita, as vice-president.
Imports to land-locked Mali have slumped since the imposition of a trade embargo.
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Nigeria’s Federal Executive Council has approved 1.9 million dollars to construct a rail line that will link Nigeria to Niger Republic.
The rail line is expected to run from Kano through Katsina and will be linked with the Maradi rail line in the neighboring West African nation.
The Council also approved a 3.04-billion-naira contract for the design, manufacture, supply, testing, and commissioning of a 150-ton railway crane for emergency and recovery of rolling stocks.
Other approvals during the 16th virtual federal executive council meeting include 62 new black maria vehicles, 8 additional forensic auditors for the NDDC, and the construction of the Umuahia/Bende/Ohafia road.
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President Muhammadu Buhari has urged world leaders to redouble efforts to ensure collective security, noting that the litany of sophisticated terrorist attacks across the globe is a harsh reality of the challenges the world is facing today.
Buhari said Nigeria is still facing extremism, called for the support of the United Nations counter-terrorism bodies to overcome terrorism in Nigeria.
He also argued that if the UN fails to mobilise and guarantee an effective response to COVID-19 pandemic, it would have failed the world, asking the global body to ensure uninhibited access to the virus’ vaccines by all nations.
He added that the UN body would have failed the global community, which looks up to it to provide direction during a crisis of this magnitude.
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The Nigeria Centre for Disease Control says 111 new cases of COVID-19 were confirmed in the country. This brings the total number of infections so far to 57,724.
The Nigeria Centre for Disease Control, in a tweet on Wednesday night, said the new cases were reported from 12 states of the federation including Lagos where 31 cases were recorded.
Gombe had thirty- one cases, Kaduna had eighteen cases, FCT had fifteen cases, Rivers had fourteen cases, Imo, Kwara and Oyo had three cases each, Bayelsa had two cases, while Edo and Osun had one case each.
The NCDC report shows that 48,985 recovered patients have been discharged while 1,102 deaths have been recorded so far.
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South African President Cyril Ramaphosa during the meeting of the UN's General Assembly said Africa needs support from the rest of the world in order to rebuild the shattered economies in the wake of the coronavirus pandemic.
Mr Ramaphosa, who was also speaking in his role as the chair of the African Union, said the continent needs help with a comprehensive stimulus package.
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The UN has warned that escalating conflict in northern Mozambique could mean crisis levels of food insecurity continue into next year.
The World Food Programme said it was deeply concerned about the humanitarian situation in Cabo Delgado province, with more than 300,000 people reliant on aid after abandoning their homes and crops.
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The Reserve Bank of New Zealand maintained its official cash rate (OCR) at a record low of 0.25%, as widely expected, on September 23rd, 2020, amid significant uncertainty due to the COVID-19 crisis, while retaining its large scale asset purchase (LSAP) programme up to NZD 100 billion. Policymakers noted that market participants now believed that it was likely the OCR would be reduced below zero next year, as the pandemic and associated travel restrictions could have a significant long-term negative impact on the economy.
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The Dutch economy shrank 8.5 percent on quarter in the three months to June 2020, the steepest pace of contraction since the series began in 1988, matching a preliminary estimate and after 1.5 percent contraction in the previous quarter. That was the second consecutive quarterly decline in GDP, which means the country officially entered a recession, due to the coronavirus health crisis ravaged business activity and global demand. Household consumption slumped 11.3 percent, fixed investment tumbled 11.3 percent and government spending decreased 3.1 percent.
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The Africa Centres for Disease Control (CDC) has said public health initiatives on the continent have led to a drop in new coronavirus cases.
The Centre’s director, John Nkengasong, told BBC's Newsday programme that testing, contact tracing and wearing of face masks had helped curb the pandemic.
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The Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) on Tuesday resolved to reduce the Monetary Policy Rate (MPR) by 100 basis points to 11.5 per cent from 12.5 per cent.
The move is expected to encourage more bank lending in order to stimulate economic activities.
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The Nigeria Labour Congress on Tuesday insisted that it will organise workers across the country to protest the increase in fuel and electricity prices on September 28.
NLC President, Ayuba Wabba while speaking in Abuja at a press briefing said the protest action was inevitable since the federal government has refused to reverse the increase in electricity and fuel prices.
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President Muhammadu Buhari has ordered the reduction of the cost of fertilizer from N5,500 to N5,000 naira per bag.
The reduction was announced by the Vice Chairman of the National Food Security Council and the Governor of Kebbi State, Atiku Bagudu.
He disclosed this on Tuesday while briefing State House reporters in Abuja after the council met with the Chief of Staff to the President, Professor Ibrahim Gambari.
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Nigerian government on Tuesday said there was no hidden agenda pertaining to the water resources bill being considered in the National Assembly.
This came as some groups, including the Nigeria Labour Congress, have called for the bill to be rejected. Nobel laureate, Wole Soyinka, has also been quoted as saying the country will be doomed if the bill makes it into the law books.
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The Nigeria Centre for Disease Control has confirmed 176 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 57613.
In a late-night tweet, the Nigeria Centre for Disease Control noted that the new cases were reported in 14 states of the federation, including Lagos.
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The Reserve Bank of Australia kept the cash rate unchanged at a record low of 0.25 percent during its September meeting, but expanded the Term Funding Facility to around AUD 200 billion at a fixed rate of 25 bps for three years to keep funding costs low and assist with the supply of credit to lenders. Banks will be able to draw up the scheme until the end of June 2021. Policymakers reiterated that a recovery from the COVID-19 crisis is now underway in most of Australia. However, the recovery is likely to be uneven and bumpy, with the outbreak in Victoria having a major effect on the economy. The board said it is committed to do what it can to support jobs, incomes, and businesses. Policymakers added it will maintain highly accommodative settings and continue to consider how further monetary measures could support the recovery.
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Aerospace giant Airbus has unveiled plans for what it hailed as the first commercial zero-emission aircraft.
It said its hydrogen-fuelled passenger planes could be in service by 2035.
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Stock markets in Asia suffered on Tuesday from the fallout from UK and US investors worried about a rise in coronavirus cases.
The biggest falls in the region were recorded in Australia, where shares hit a three-month low.
Investors have also been rattled by dimming hopes for more financial support for the US economy.
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British Prime Minister Boris Johnson on Tuesday will tell people to work from home and will impose new curbs on pubs, bars and restaurants in a bid to tackle the swiftly accelerating second wave of the coronavirus outbreak.
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Czech Prime Minister Andrej Babis on Monday said that his government had made a mistake when it eased restrictions aimed at containing coronavirus over the summer.
His Fault came as governments across Europe struggle with a second wave of Covid-19 infections following the holiday months in which the number of cases began rising sharply.
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Liberia's health ministry has been ordered to recruit new personnel to temporarily replace 9,000 healthcare workers who have been on a strike for nearly a week.
The striking healthcare workers are demanding for better salaries, improved working conditions and protective equipment.
Information Minister E ugene Nagbe, in a statement, invited applications from qualified nurses, midwives and laboratory technicians.
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The European Union has imposed sanctions on three companies for violating the UN arms embargo on Libya.
A meeting of EU foreign ministers in Brussels resolved that the sanctions imposed include an asset freeze for the three companies.
Two individuals were also sanctioned for human rights abuses in Libya.
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The Economic and Financial Crimes Commission, EFCC, and the Nigeria Navy have agreed to review their strategies as part of efforts to stem the tide of criminal activities in the maritime sector.
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The federal government has commenced visa processing on a reciprocity basis for applicants from countries that have reopened their international airspace and have begun issuing visas to Nigerian applicants.
The Consulate General of Nigeria in South Africa confirmed this development in a statement issued on Monday, saying the federal government has granted payment waivers to certain categories of visitors/migrants affected by travel restrictions introduced during the COVID-19 pandemic.
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The federal government says its commitment to environmental protection is stalling desert encroachment in the country.
The minister of environment, Mohammad Mahmud stated this during the official Flag-off of training of youth and women on various skills, under the National Agency for the great green wall in Kano.
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President Muhammadu Buhari on Monday hailed the United Nations for remaining true to the aspirations of its founders, saying the international organisation has continued to play the crucial role of fostering global peace and security.
The President joined world leaders at a virtual event to commemorate the 75th anniversary of the United Nations.
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The Presidential Task Force on COVID-19 has disbursed N1billion each to 32 states in the country amid the pandemic.
The Coordinator, Dr Sani Aliyu announced the disbursement of the sum on Monday during a briefing in Abuja, the nation’s capital.
He said the purpose is to drive COVID responses and to prioritise testing in addition to surveillance activities linked to COVID-19.
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The Nigeria Centre for Disease Control has confirmed 195 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 57,437.
The Nigeria Centre for Disease Control (NCDC) disclosed this in its latest update on Monday night in a tweet on its official handle, showing that the new cases were recorded in Lagos, the FCT and nine other states.
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The People's Bank of China (PBoC) held its benchmark interest rates steady for the fifth straight month at its September fixing, after the central bank maintained borrowing costs on medium-term loans last week, as policymakers face a challenge in sustaining stable expansion over the next few years. Recent economic data showed the economy has steadily recovered from the COVID-19 shocks. The one-year loan prime rate (LPR) was left unchanged at 3.85 percent while the five-year remained at 4.65 percent.
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Major stock markets in the Asia Pacific region traded lower on Monday, amid fears over a resurgence of COVID-19 infections in Europe, with Britain considering a new nationwide lockdown. At the same time, traders awaited developments on US fiscal stimulus. Shares fell the most in Hong Kong, Australia, and China. Markets in Japan were closed for a holiday.
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Hungarian Prime Minister Viktor Orban on Monday endorsed Donald Trump’s reelection bid for the U.S. presidency, saying his rival Democrats have forced a moral imperialism on the world that illiberal leaders like himself reject.
Orban in a statement said they root for Donald Trump’s victory, because they know well American Democratic governments’ diplomacy, built on moral imperialism.
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World leaders will come together, virtually, on Monday to mark the 75th anniversary of the United Nations, as the deadly coronavirus pandemic challenges the effectiveness and solidarity of the 193-member world body.
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The Regional Expert Committee on Traditional Medicine for COVID-19 formed by the World Health Organization (WHO), the Africa Centre for Disease Control and Prevention and the African Union Commission for Social Affairs has endorsed a protocol for phase III clinical trials of herbal medicine for COVID-19 as well as a charter and terms of reference for the establishment of a data and safety monitoring board for herbal medicine clinical trials.
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Social media giant Facebook has announced it will be opening an office in Lagos, Nigeria, next year marking the second office on the African continent.
The company said will also be its first African office to house a team of expert engineers adding that Its Nigerian office will hire teams working in sales, partnerships, policy and communications.
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Social media giant Facebook has announced it will be opening an office in Lagos, Nigeria, next year marking the second office on the African continent.
The company said will also be its first African office to house a team of expert engineers adding that Its Nigerian office will hire teams working in sales, partnerships, policy and communications.
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Sudan has sent a high-level delegation to the United Arab Emirates to negotiate with American officials as the country tries to get removed from the US list of countries that sponsor terrorism.
The Sudanese delegation is headed by the country's leader, General Abdel Fattah al-Burhan.
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Ghana Lifts Ban On Football League
Ghana's President Nana Akufo-Addo has lifted a ban on contact sport including football.
The president said the Ghana Premier League and the Division One league are expected to resume on 30 October and all players, technical teams and management staff of clubs will be tested regularly for Covid-19.
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Nigerian National Petroleum Corporation (NNPC) disclosed that it will unveil the list of successful bidders among the 78 companies that submitted bids to rehabilitate its critical downstream pipelines, associated depots and terminal infrastructure in the first quarter of 2021
The corporation, in a statement issued on Sunday in Abuja, and signed by the Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, noted that the rehabilitation would be based on a Finance, Build, Operate and Transfer (BOT) model.
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The Central Bank of Nigeria (CBN) has further intensified its investigation on more bank customers and unauthorised FX dealers in order to ensure that the country’s forex resources are prudently managed and used for the importation of priority goods
The central bank requested for all accounts (both Naira and foreign currency) of over 100 suspected companies, who specialise in buying forex from certain unauthorised sources without passing through the legitimate sources, thereby avoiding documentation and overheating the exchange rates.
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The Joint Health Sector Unions (JOHESU) has suspended its seven-day warning strike across the country.
The National President, Biobékentóye Josiah in a statement said the health workers comprising five unions under JOHESU and the Assembly of Healthcare Professional Associations (AHPA) were expected to resume work on September 21.
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Nigerian Government has released the timetable for categories of businesses to register as the portal for the registration of prospective beneficiaries for the Survival Fund opens on Monday.
A statement issued in Abuja on Sunday by the Project Delivery Office stated that the portal which opens at 10 PM, will have educational institutions as the first category of beneficiaries to register.
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The Nigeria Centre for Disease Control has confirmed 97 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 57,242.
The Nigeria Center for Disease Control (NCDC) announced this on Sunday, revealing that the new infections were recorded in 11 states and the FCT.
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The World Health Organization on Thursday warned of alarming rates of transmission of Covid-19 across Europe and cautioned against shortening quarantine periods as countries in the region scrambled to find ways to reduce infections without resorting to new lockdowns.
The WHO’s regional director for Europe, Hans Kluge said a September surge should serve as a wake-up call for all of us.
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White House Chief of Staff Mark Meadows on Thursday said that five more countries are seriously considering striking a normalization deal with Israel after the United Arab Emirates and Bahrain signed accords this week.
Meadow while speaking to reporters on Air Force One on the flight that carried President Donald Trump to a campaign rally in Wisconsin, would not identify the five nations.
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White House Chief of Staff Mark Meadows on Thursday said that five more countries are seriously considering striking a normalization deal with Israel after the United Arab Emirates and Bahrain signed accords this week.
Meadow while speaking to reporters on Air Force One on the flight that carried President Donald Trump to a campaign rally in Wisconsin, would not identify the five nations.
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U.N. food chief David Beasley called on the world’s billionaires on Thursday to step up to help save some 30 million people he said are at risk of dying if they don’t receive help from the World Food Programme.
Beasley told the U.N. Security Council that Globally some 270 million people were headed toward the brink of starvation and WFP hopes to reach 138 million people this year.
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Nigerian Government has cautioned Nigerians to be careful during this COVID-19 pandemic era, adding that vaccines will not be available until 2021.
the Minister of Health, Osagie Ehanire while speaking during a briefing by the Presidential Task Force on COVID-19 on Thursday in Abuja, asked the citizens to adhere to the non-pharmaceutical interventions.
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The Federal Inland Revenue Service (FIRS) said that it collected N490 billion in tax receipts in July, with a sum of N438 billion, representing 89% came from Non-oil receipts.
The revenue agency in a statement on Thursday explained that the significant drop in oil revenue to N52 billion, representing 11%, is due to the global shock caused by the COVID-19 pandemic which led to a significant cut in crude oil production by oil-producing nations.
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The Federal Government has directed all account holders in the country to obtain and fill self-certification forms in line with the Income Tax Regulations 2019.
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Nigerian National Petroleum Corporation (NNPC) said on Thursday that it recorded an increased trading surplus of N20.36 billion in July 2020 compared to the N2.12 billion surplus in June 2020 in its operations.
NNPC Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, in Abuja, explained that the details of the figures were captured in the July 2020 NNPC Monthly Financial and Operations Report (MFOR).
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The Federal Government has launched a central database for the management of recovered assets.
The Minister of Justice, Abubakar Malami during the launch on Thursday, in Abuja, said all the assets that have been recovered by the Federal Government are now tied to specific projects.
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President Muhammadu Buhari has signed the Nigeria Police Bill, 2020 into law.
The President in a memo dated September 16, 2020 in a statement by the Special Adviser to the President on Media and Publicity, Femi Adesina, communicated his assent to the Bill to the National Assembly, through the Clerk of the legislature.
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The Nigeria Centre for Disease Control has confirmed 131 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 56,735.
The Nigeria Centre for Disease Control (NCDC) in a tweet on its official handle on Thursday showed that Lagos had 45 cases, Kaduna and Plateau 17, while the FCT recorded 16.
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The Shanghai Composite Index was down 9 points or 0.3% to 3,286 on Wednesday at around 01:00 PM Shanghai time, ahead of the Fed's interest rate decision later and quarterly economic updates later in the day, with the healthcare sector falling the most after the Chinese health authority reported 12 new COVID-19 cases today, up from eight a day earlier.
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Exports from Japan declined by 14.8% yoy to JPY 5.23 trillion in August 2020, compared with market consensus of a 16.1% drop and after a 19.2% plunge in July. This was the 21st straight month of decrease in overseas sales, amid deteriorating global demand due to the ongoing COVID-19 crisis and supply chain interruptions. Exports to the US slumped further, while those to China grew less.
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The UN's humanitarian chief on Tuesday warned that the spectre of famine has returned to war-torn Yemen and for the first time singled out Saudi Arabia, the United Arab Emirates, and Kuwait for giving nothing to this year's $3.4bn appeal for desperately needed aid.
Mark Lowcock told the UN Security Council that famine in Yemen, the Arab world's poorest country, was averted two years ago because donors swiftly met 90 percent of the UN's funding requirements, enabling humanitarian agencies to increase monthly aid from eight million to 12 million people and save millions of lives.
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The World Trade Organization has ruled that tariffs the US imposed on Chinese goods in 2018, triggering a trade war, were inconsistent with international trade rules.
The WTO said the US did not provide evidence that its claims of China's unfair technology theft and state aid justified the border taxes.
Chinese officials welcomed the ruling.
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The number of confirmed coronavirus infections in India has surpassed five million, the second-highest in the world after the US.
The virus appears to be spreading much faster in India than any other country, with daily cases crossing 90,000 for the five days up until Tuesday.
More than 80,000 people have died, amid reports of shortages of intensive care beds and oxygen supplies.
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Apple on Tuesday said it is putting TV, music, news and more in a subscription bundle as it increases its push into services tied to its iPhone ecosystem.
An Apple One bundle to be available later this year will start at $15 monthly and include a freshly launched fitness service tied to Apple Watch.
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Analysts at credit ratings agency Moody said a dispute surrounding the postponement of national elections in Ethiopia may pose a risk to investment decisions in the country.
Moody’s downgraded Ethiopia’s rating - which is a marker of how likely it is to pay back its debts - from B1 to B2 in May mainly due to its exposure to external public sector debt compared to foreign exchange receipts.
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The National Bank of Ethiopia according to Borkena website says new banknotes worth 2.9bn Ethiopian birr ($80m; £62) have been printed and are ready for distribution.
The website reports that those intending to change their old banknotes will be expected to appear in person and present their identity cards.
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The United Kingdom on Tuesday said it will not hesitate to take actions against individuals it identifies as causing violence in the imminent elections in Edo and Ondo states.
The British High Commission via twitter said the UK sees the elections as another opportunity to strengthen Nigeria’s democratic institutions.
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The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, on Tuesday tasked the banking sector to consider an increase in the percentage of loans to the agriculture sector from the current four per cent to 10 per cent by 2024.
Emefiele while speaking at the opening ceremony of the 13th Annual Banking and Finance Conference, themed: Facilitating a Sustainable Future: the Role of Banking and Finance, which was organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja.
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The Presidential Task Force on COVID-19 has raised the alarm that international travellers from some specific countries, who are COVID-19 positive, have been making their way into the country by presenting fake PCR results.
The National Coordinator of the task force, Dr Sani Aliyu, disclosed this on Tuesday, in response to the joint Senate committees on Health and Aviation on the testing procedures, following the reopening of the international airspace.
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The Nigeria Centre for Disease Control has confirmed 90 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 56,478.
The Nigeria Centre for Disease Control (NCDC) in a tweet on its official handle, confirmed the country reported five new deaths as a result of the virus, within the last 24 hours.
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The United States on Monday eased its warning against travel to China, acknowledging that the nation had made progress against Covid-19 despite frequent US criticism of its pandemic role.
The State Department still urges Americans to reconsider travel to China, but it upgraded its advice from a blanket warning not to go to the country.
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US President Donald Trump has promised a response that will be 1,000 times greater in magnitude, to any attack by Iran.
This is after reports that Iran was plotting to kill the US ambassador to South Africa, Lana Marks.
Mr Trump on Monday tweeted that any attack by Iran, in any form, against the United States will be met with an attack on Iran that will be 1,000 times greater in magnitude!
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President Emmanuel Macron on Monday said France will move forward with its planned deployment of 5G telecom networks despite critics who would prefer the Amish model.
About 70 left-wing elected officials and environmentalists on Sunday called for a moratorium on 5G technology, which is due to be rolled out in France at the end of the month.
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US President Donald Trump has promised a response that will be 1,000 times greater in magnitude, to any attack by Iran.
This is after reports that Iran was plotting to kill the US ambassador to South Africa, Lana Marks.
Mr Trump on Monday tweeted that any attack by Iran, in any form, against the United States will be met with an attack on Iran that will be 1,000 times greater in magnitude.
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The Bill and Melinda Gates Foundation says the COVID-19 pandemic, which began barely 25 weeks ago, has reversed the gains recorded in the health sector by 25 years.
This is according to its 2020 Goalkeepers’ Report, which measures progress of countries in relation to the 17 Sustainable Development Goals of the United Nations.
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Nigeria’s Minister of Finance, Budget and National Planning, Zainab Ahmed, has said when Dangote’s refinery begins operations next year, it may not lead to significant reduction in the price of petrol because it will be selling at the international price.
Ahmed said this was because the refinery was located at the Export Processing Zone in Lagos State.
The minister said this on the Nigerian Television Authority’s Good Morning Nigeria programme on Monday.
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The US has imposed visa restrictions on a number of people in Nigeria accused of undermining democratic principles ahead of elections in Edo and Ondo states.
The state department said the individuals had operated with impunity at the expense of the Nigerian people.
It urged all parties including the security forces to ensure free and fair elections.
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The federal government has reminded all states of the federation to be vigilant in adhering to the safety protocols developed by the Presidential Task Force (PTF) on COVID 19 ahead of the reopening of schools this week across the country.
The Chairman PTF, Mr. Boss Mustapha, made the appeal on Monday when the task force briefed the media in Abuja.
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The Nigeria Centre for Disease Control has confirmed 132 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 56,388.
The Nigeria Center for Disease Control (NCDC) disclosed this on Monday via its official Twitter handle.
Lagos had fifty-two cases which accounted for the highest number of infections.
A total of 44,337 persons have recovered from the virus while the death toll now stands at 1,083.
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Euro stocks traded higher on Monday, with the DAX 30 rising 0.7% lifted by news that Astrazeneca coronavirus vaccine trials resumed in the UK after the British authorities gave their approval. The company halted the late-stage trials last week over safety pean st concerns after one voluntary got sick. In addition, news that American Nvidia will buy the UK-based computer chip designer ARM Holdings from Softbank for $40 billion improved investors’ sentiment.
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The Japanese Yen gained near 0.2% to 105.95 per USD on Monday, amid a genereal dollar weakness and after Japan’s governing party elected Chief Cabinet Secretary Yoshihide Suga as its new leader to succeed Shinzo Abe. As expected, Suga won by a large margin, taking 377 of a total of 534 votes from his party's lawmakers and regional representatives.
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Major stock markets in Asia traded higher on Monday amid renewed hopes for the potential COVID-19 vaccines after AstraZeneca resumed its British clinical trials. Sentiment was also lifted by reports that Nvidia has agreed to buy Arm Holdings from Softbank in a deal worth $40 billion. Stocks in South Korea led the gains, followed by those in Japan, and Hong Kong.
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Israel’s government on Saturday announced it would impose a three-week nationwide lockdown in an effort to stem one of the world’s highest novel coronavirus infection rates after a surge in cases.
The lockdown order, set to go into effect on Friday, makes Israel the first developed economy to take such a drastic measure to curb a second wave of virus infections.
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According to British Petroleum's latest long-term energy outlook, global fuel demand may have already peaked as the COVID-19 pandemic kicks the world economy onto a weaker growth trajectory and accelerates the shift to cleaner fuels. At the same time, Reuters reported that commander Khalifa Haftar in Libya committed to ending a months-long blockade of oil facilities, a move that would add more supplies to the market. Meantime, oil production in the US Gulf of Mexico could disrupt for the second time in less than a month as Tropical Storm Sally gained strength Sunday and was poised to become a hurricane strength on Monday and Tuesday. At around 04:30 AM GMT, WTI was at crude $37.56 a barrel while Brent crude stood at $39.95 a barrel.
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The Doctors Without Borders (also known as MSF) has called on the Indonesian government to step up education regarding the spread of the coronavirus in the country, saying that the spread of rumours and fake news is creating "panic" in many communities.
The MSF deputy medical coordinator in Indonesia, Dirna Mayasari said they needed to help them find a way to educate and inform the community quickly and on a large scale. Fear can be just as harmful as COVID-19.
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The head of the WHO’s European branch told AFP news agency that the Organisation expects Europe to see a rise in the daily number of COVID-19 deaths in October and November.
WHO Europe director Hans Kluge said It is going to get tougher. In October, November, they are going to see more mortality, as the continent currently experiences a surge of cases though the number of deaths has remained relatively stable.
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Health Ministry's data showed that the Czech Republic recorded 792 new coronavirus cases on Sunday, a drop after five consecutive days with more than 1,000 cases each.
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Australia reported its lowest one-day rise in novel coronavirus infections in nearly three months on Monday as authorities began to ease restrictions aimed at slowing its spread.
Thirty-nine people were found to be infected with the virus in the past 24 hours, the lowest one-day increase in new cases since June 26, when 37 infections were detected.
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The parallel government in eastern Libya has submitted its resignation after a rash of protests over deteriorating living conditions and corruption.
In the latest demonstrations, protesters in the city of Benghazi set fire to the headquarters of the military commander, Khalifa Haftar.
They also clashed in his stronghold of Al-Maj for the first time.
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Schools and universities in South Sudan are scheduled to re-open on Monday after nearly six months of closure due to the coronavirus pandemic.
The decision to re-open schools and universities was reached during a cabinet meeting on Friday chaired by President Salva Kiir.
Health Minister Elizabeth Acuei Yol said that there was a significant reduction in the number of infections that necessitated the re-opening of learning institutions in the country.
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Saudi Arabia interior ministry on Sunday said it will partially lift its suspension on international flights from September 15, six months after travel curbs were imposed due to the coronavirus pandemic.
The minister said the kingdom will end all restrictions on air, land and sea transport for Saudi citizens “after January 1” next year, without specifying an exact date.
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Algerians were unable to access social media accounts on Sunday as students sat national exams in the North African country where authorities are cracking down on cheating.
An AFP journalist said social networks such as Facebook, Twitter and WhatsApp were inaccessible while the internet faced disruptions across the country.
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Attorney-General of the Federation (AGF) and Minister of Justice of Nigeria, Mr. Abubakar Malami (SAN), has denied an alleged federal government’s involvement in an OPL 245 asset recovery deal entered with Drumcliffe, a United States firm.
Drumcliffe, which serves as the litigation funder, established Poplar Falls LLC, a special fund incorporated in Delaware.
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World Bank has disclosed that it would begin the disbursement of the $750 million it approved for Nigeria’s Power Sector Recovery Programme (PSRP) next year and complete the process in 2023.
PSRP is expected to improve the reliability of electricity supply, achieve financial sustainability, as well as enhance accountability in Nigeria’s power sector, which is currently riddled with governance and process challenges.
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Nigerian National Petroleum Corporation (NNPC) has unveiled plans to begin the activation of Compressed Natural Gas (CNG) refill stations for motorists across the country as part of the efforts to provide alternatives to petrol as vehicular fuel following the hike in the cost of the product.
The corporation disclosed this in a statement issued on Sunday by its Group General Manager of Public Affairs Division, Dr. Kennie Obateru, in Abuja.
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The Nigeria Centre for Disease Control has confirmed 79 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 56,256.
The Nigeria Center for Disease Control (NCDC) disclosed this on Sunday, making it the lowest figure in several months.
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The ASX 200 fell 49.1 points or 0.83% to 5859.4 on Friday, closing 0.99% lower for the week and declining for the fourth consecutive week following a fall in US equities overnight. Investors were cautious after China reported that Australia’s embassy obstructed law enforcement, sheltering two journalists who were wanted for questioning in the country.
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The ASX 200 fell 49.1 points or 0.83% to 5859.4 on Friday, closing 0.99% lower for the week and declining for the fourth consecutive week following a fall in US equities overnight. Investors were cautious after China reported that Australia’s embassy obstructed law enforcement, sheltering two journalists who were wanted for questioning in the country.
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The British economy shrank 7.6% in the three months to July, following a record 20.4% plunge in the three months to June and compared to forecasts of a 7.5% fall. Considering July only, the economy advanced 6.6%, the third straight month of growth and beating expectations of 6.7%, as coronavirus restrictions eased. Still, economic output remains 11.7% below the levels seen in February 2020, before the full impact of the pandemic.
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China and India said on Friday they had agreed to de-escalate renewed tensions on their contested Himalayan border and take steps to restore peace and tranquillity” following a high-level diplomatic meeting in Moscow.
The two countries in a joint statement said Chinese State Councillor Wang Yi and Indian Foreign Minister S. Jaishankar met in Moscow on Thursday and reached a five-point consensus, including agreements that troops from both sides should quickly disengage and ease tensions.
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First Minister Mark Drakeford said the change came as 20 people in every 100,000 in Wales now had coronavirus - the threshold used when deciding if people have to quarantine when coming back into the UK from abroad.
He said Lots of people in Wales do choose in any case to wear face coverings when they are out and about, what they will see now is that it will be compulsory for people to do that in shops.
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India has recorded the world's highest-ever daily number of cases, with more than 96,000 reported on Friday.
The Federal Health Ministry has now reported more than 4.5 million cases in the country.
The amount of cases is rising faster in India than anywhere else on the planet, but the death rate is lower than some countries.
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The mission of a West African peacekeeping force in Guinea-Bissau has come to an end after eight years in the country.
They were deployed by regional bloc Ecowas in 2012 following a military coup against Prime Minister Carlos Gomes Junior after a disputed presidential election.
The force of about 1,000 soldiers was mandated to protect heads of institutions and public buildings.
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The World Health Organization (WHO) and the Africa Centres for Disease Control (CDC) have launched a new laboratory network that will reinforce genome sequencing of coronavirus in Africa.
The initiative seeks to study the possible mutations of the virus in order to prepare better responses in public health.
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President Muhammadu Buhari on Thursday received the President of the African Development Bank (AfDB), Dr Akinwumi Adesina in the Presidential Villa, praising him for his performance and successful re-election.
The President especially commended Dr Adesina for supporting Africa in general and Nigeria in particular, especially in terms of addressing infrastructural deficits.
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President Muhammadu Buhari’s on Thursday directed the Nigerian leader at the Central Bank of Nigeria (CBN) not to give foreign exchange for food and fertilizer imports.
Buhari at a meeting of the National Food Security Council at the State House, in Abuja, reechoed his administration’s commitment to ensuring Nigeria is self-sufficient in food production.
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A United Kingdom judge has ordered P&ID to make an interim payment of more than £1.5 million to Nigeria within 21 days to cover legal costs the country incurred as part of its successful application for the extension of time to challenge the arbitration award of $9.6 billion to the company.
The judge gave the order on Thursday when Nigeria appeared before it in a hearing held to decide procedural and costs issues relating to the FRN’s applications to challenge the arbitration award and to determine the short-term directions to trial.
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The Nigeria Centre for Disease Control has confirmed 197 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 55829.
Plateau State which has now become the pandemic epicentre in the country had the highest infections for the day – 83 – according to a tweet on Thursday, by the Nigeria Centre for Disease Control (NCDC).
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Malaysia’s central bank kept interest rates steady on Thursday as the coronavirus-hit economy showed some signs of recovery.
Bank Negara Malaysia left its overnight policy rate at 1.75%. The central bank said economic activity, supported by fiscal and monetary stimulus, had improved since a trough in April.
The Bank says it remains committed to utilise its policy levers as appropriate to create enabling conditions for a sustainable economic recovery.”
Malaysia’s benchmark KLSE and ringgit currency were little changed after the central bank’s announcement.
The decision to hold fire comes after the central bank has already delivered 125 bps of rate cuts this year, while the government has rolled out stimulus packages worth nearly 270 billion ring it.
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South Korean shares rebounded on Thursday, tracking a tech-led rally in Wall Street, while the government’s new stimulus package added to investor sentiment.
The benchmark KOSPI closed up 20.67 points, or 0.87%, at 2,396.48. Market heavyweight Samsung Electronics jumped as much as 2.74% to lead the gains.
Shares of Kakao Games Corp surged 30% on debut, after it debuted on the junior KOSDAQ at 48,000 won, double the IPO price, valuing the company at 3.5 trillion won.
Foreigners were net buyers of 380.4 billion won ($321.05 million) worth of shares on the main board.
On the foreign exchange market, the South Korean won ended trading at 1,184.9 per dollar on the onshore settlement platform, 0.35% higher than its previous close at 1,189.1.
In offshore trading, the won was quoted at 1,184.4 per dollar, while in non-deliverable forward trading its one-month contract was quoted at 1,184.9.
In money and debt markets, September futures on three-year treasury bonds fell 0.01 points to 111.87.
The most liquid 3-year Korean treasury bond yield fell by 0.5 basis points to 0.912%, while the benchmark 10-year yield fell by 0.3 basis points to 1.515%.
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The International Air Transport Association, IATA, says shipping a coronavirus vaccine around the world will be the "largest transport challenge ever". According to IATA, the equivalent of 8,000 Boeing 747s will be needed to complete the task.
There is no Covid-19 vaccine yet, but IATA is already working with airlines, airports, global health bodies and drug firms on a global airlift plan. The distribution programme assumes only one dose per person is needed.
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Egypt's annual urban consumer price inflation has decreased to 3.4 percent in August. This is according to figures released on Thursday by the nation's statistics agency, CAPMAS. The figures showed a decline from 4.2 percent recorded in July.
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The National Bureau of Statistics, in its report released on Wednesday stated that the total value of transactions through electronic payment channels recorded in the second quarter of 2020 stood at N263.78 trillion with a transaction volume of 2,160,436,659.
The report was titled Selected Banking Sector Data: Sectorial Breakdown of Credit, e-Payment Channels and Staff Strength (Q2 2020)’.
The report stated that online transfer transactions dominated electronic payments with N72.25 trillion with 1,317,621,686 in volume of transactions.
The value of cheque transactions stood at N2.29 trillion while NEFT transfers accounted for N59.55 trillion.
Transactions via Automated Teller Machines (ATMs) amounted to N37.44 trillion while Point of Sale (PoS) transactions stood at N999.91 billion.
The NBS said mobile app transfers amounted to N6.92 trillion, while USSD transfers totaled N1.04 trillion.
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The Central Bank of Nigeria (CBN) has revealed that Foreign exchange (forex) inflows into the Nigerian economy fell by 43.2 per cent to $5.52 billion in May 2020.
The CBN disclosed this in its economic report for May 2020 obtained yesterday.
The decline in inflow, relative to the level in April 2020, was attributed to the lower receipts from oil sources, which fell sharply by 55.2 per cent because of the continued fragility in global crude oil demand.
The report stated that inflows through autonomous sources, particularly invisible purchases, declined by seven per cent to $3.51 billion, relative to the preceding month, while there was a 66.2 per cent fall in inflow through the CBN, which stood at $2.01 billion in May 2020.
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The Group Marketing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has dismissed the criticism that followed the recent fuel price increase.
He said the outburst is very understandable but I also believe very strongly that it is misplaced because Nigerians are not aware of the opportunities lost.
Kyari said the issue of subsidy has been a big issue in the country for many years but the government can no longer afford it because of the economic issues facing the country.
He added that every corruption that you are aware of in the downstream industry is one way or the other connected to fuel subsidy.
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The Federal Government asked a Milan court on Wednesday to order Eni and Royal Dutch Shell to pay $1.09bn as an immediate advance payment for damages it is claiming in one of the oil industry’s biggest-ever corruption trials.
Shell and Eni jointly acquired the rights to Oil Prospecting Licence 245, a Nigerian offshore oil block, for about $1.3bn in 2011 from Malabu Oil and Gas, a company owned by a former Nigerian Minister of Petroleum Resources, Dan Etete.
Reuters reported that at a hearing into alleged corruption linked to the oil majors’ acquisition of the OPL 245, Lucio Lucia, lawyer for the Nigerian government, called for a guilty verdict and an advance payment, ahead of any broader damages package set by a court at a later date.
The report stated that Lucia did not specify how much Nigeria was seeking in damages overall but said the disputed deal had deprived Abuja of profit oil adding these are massive amounts.
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The Debt Management Office on Wednesday announced that Nigeria’s public debt hit a total of N31.01tn at the end of June.
As of the end of June 2015, one month after the present regime came into power, the country’s debt profile stood at N12.12tn.
This means that within a period of five years, the nation’s debt profile rose by N18.89tn.
It also means that the country’s debt profile has risen by 155.86 per cent within the five-year period.
Nigeria’s total public debt stock includes the debt stock of the Federal Government, the 36 states and the Federal Capital Territory.
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President Muhammadu Buhari has inaugurated the National Steering Committee to oversee Nigeria’s Agenda 2050.
The committee is to ensure that the Medium-Term National Development Plan (MTNDP) succeeds the Vision 20:2020 and the Economic Recovery and Growth Plan (ERGP) 2017 – 2020.
The team will be chaired by Mr Atedo Peterside and the Minister of Finance, Budget and National Planning, Zainab Ahmed.
The task before the group is to lift 100 million Nigerians out of poverty within the next 10 years.
President Buhari said it would oversee governance structure comprising the Central Working Group and 26 Technical Working Groups for the important national assignment.
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The Nigeria Centre for Disease Control has confirmed 176 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 55,632.
The Nigeria Centre for Disease Control (NCDC) in a tweet on its official handle, showed that The Federal Capital Territory (FCT) has topped the list of daily COVID-19 fresh cases with 40 new infections, Lagos had thirty- four cases while Plateau had twenty- six cases.
A total of 43,610 persons have recovered from the virus while the death toll now stands at 1,070.
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National Australia Bank's index of business confidence rose to -8 in August 2020 from -14 in the previous month, but remained very weak and likely fragile. Confidence was negative in all industries, with mining seeing the weakest while finance, business & property being worst. Meantime, business conditions weakened amid a sharp decline in employment while both sales) and profits also softened. The weakest conditions were seen for mining, construction, and recreation & personal services,
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Major stock markets in Asia traded in the green on Tuesday, amid hopes of potential COVID-19 vaccines and as investors assessed whether tech shares can recover from recent sell-off. The Shanghai Composite led the gains and the Nikkei 225 was higher on expectations that the Japanese government will roll out further stimulus after the economy shrank at a record pace in Q2 and worse than initially thought.
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United States President Donald Trump and Democratic rival Joe Biden took rhetorical swipes at each other on Monday as the presidential campaign entered its traditional homestretch on the US Labor Day holiday.
Trump described Biden, whom he trails in national polls, as a threat to the economy and "stupid", while Biden took aim at Trump's reported disparaging of fallen troops.
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The Australian Broadcasting Corporation (ABC) on Tuesday reported that two of Australia's leading foreign correspondents in China have flown home for their own safety after they were questioned separately by China's Ministry of State Security.
The China correspondents for the ABC and the Australian Financial Review (AFR) sought shelter in Australia's embassy in Beijing and consulate in Shanghai as diplomats negotiated with Chinese officials to allow them to leave the country, the ABC and the AFR reported.
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Japan's Olympic Minister Seiko Hashimoto has said the Tokyo Olympics should be held next year at any cost that is, regardless of the challenges and risks posed by the coronavirus.
The Olympics were originally supposed to be held this summer, but were postponed because of the pandemic.
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Federal Executive Council (FEC) has approved a total of 191 out of the 282 memoranda on policy and contracts forwarded to it by ministers within the last year.
The Secretary to the Government of the Federation (SGF), Mr. Boss Mustapha, said on Monday at the first ministerial performance review retreat in Abuja that as of September 2, FEC granted memoranda, briefs and notes processed by the Cabinet Affairs Office under the Office of the SGF.
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Nigerian National Petroleum Corporation (NNPC) on Monday dismissed the allegation that Ajaokuta-Kaduna-Kano (AKK) gas pipeline project was inflated to the tune of $1.527 billion.
The corporation, which listed the due processes the project underwent before final approval, described the allegation as false, baseless and unfounded.
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Nigeria’s Minister of Information and Culture, Lai Mohammed, has defended the decision of the government to increase the price of Premium Motor Spirit (PMS), also known as petrol.
He attributed the increased amount to the global price of crude oil, saying the angry reactions that have greeted the latest petrol price were unnecessary and totally mischievous.
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President Muhammadu Buhari on Monday urged ECOWAS leaders to adhere strictly to the tenure prescribed in the constitution of their countries, saying given the prevailing economic crises in the subregion, they could not afford escalation of political disputes.
He also criticised the decision of the Francophone West African bloc of ECOWAS to unilaterally adopt the proposed ECO currency, describing it as premature.
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President Muhammadu Buhari says the decision to adjust the electricity tariff is one that is regretted by the Federal Government.
He is, however, relieved that the tariff review is not about the increase but establishing a system that will definitely lead to improved service for all at a fair and reasonable price.
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The Nigeria Centre for Disease Control has confirmed 155 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 55,160.
The Nigeria Centre for Disease Control (NCDC) in a tweet on its official handle, showed that the new cases were reported from 16 states whie had forty-two cases.
A total of 43,231 persons have recovered from the virus while the death toll now stands at 1,061.
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The Shanghai Composite Index dropped 16 points or 0.5% to 3,341 on Monday at around 01:30 PM Shanghai time. Investors were nervous over growing tensions on technology matter between Beijing and Washington as US President Donald Trump is considering adding China's top chipmaker Semiconductor Manufacturing International in blacklist.
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Oil prices fell more than 1% on Monday, touching their lowest since July, as optimism about demand recovery weakened after Saudi Arabia cut the October official selling price for Arab light crude it sells to Asia by the biggest margin since May. Meantime, the US government report last week showed domestic gasoline demand fell again. Reuters reported that the world remained awash with fuel supplies despite OPEC+ supply cuts and efforts from governments to prop up their economies.
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Brexit trade talks plunged into crisis on Monday after Britain warned the European Union that it could effectively override the divorce deal it signed unless the bloc agrees to a free trade deal by Oct. 15.
Sections of the internal market bill, due to be published on Wednesday, are expected to “eliminate the legal force of parts of the withdrawal agreement” in areas including state aid and Northern Ireland customs, the Financial Times said, citing three people familiar with the plans.
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Delegates of Libya's rival administrations have met for talks in Morocco two weeks after the two sides declared a ceasefire.
Five delegates each met from the UN- recognised government in Tripoli and the rival parliament based in the eastern city of Tobruk.
Moroccan Foreign Minister, Nasser Bourita, while opening the meeting in the town of Bouznika, said that Morocco had no specific agenda but wanted to give Libyans a chance to discuss the issues dividing them.
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Uganda's Labour Minister, Mwesigwa Rukutana, is expected to appear in court on Monday after he was arrested over the weekend over a shooting incident.
The minister allegedly shot at his opponent's supporters after he lost the primaries of the ruling party National Resistance Movement (NRM).
One supporter was seriously injured and two others sustained major injuries, according to local media reports.
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Nigerian Government has launched a creative challenge to mark the Diamond Jubilee.
The Minister of Communications and Digital Economy, Dr Isa Pantami who is the Chairman of the Diamond/Innovation/Change Sub-Committee disclosed this in a statement shared on the Ministry’s Twitter handle.
The minister said to ensure inclusiveness, the thematic and creative aspects of the event would be designed by Nigerians for Nigeria. The theme of the celebration is “Together at 60”.
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Brexit trade talks plunged into crisis on Monday after Britain warned the European Union that it could effectively override the divorce deal it signed unless the bloc agrees to a free trade deal by Oct. 15.
Sections of the internal market bill, due to be published on Wednesday, are expected to “eliminate the legal force of parts of the withdrawal agreement” in areas including state aid and Northern Ireland customs, the Financial Times said, citing three people familiar with the plans.
Prime Minister Boris Johnson on Monday said Britain has set a deadline of Oct. 15 to strike a free-trade deal with the European Union, and if none is agreed both sides should accept that and move on.
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The US Department of Defense in a Report said China is considering setting up military bases in four African countries.
Kenya, Seychelles, Tanzania and Angola were mentioned among a dozen other countries where China is considering setting up bases.
The four African governments are yet to respond to the report.
The report that was published last week was widely reported over the weekend, with some of the countries where the bases are to be set up denying being in discussions with China.
It says China has likely considered locations for military logistics facilities in Myanmar, Thailand, Singapore, Indonesia, Pakistan, Sri Lanka, United Arab Emirates, Kenya, Seychelles, Tanzania, Angola, and Tajikistan.
It added that China and Cambodia have publicly denied having signed an agreement to provide the plan with access to Cambodia’s Ream Naval Base.
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The Attorney-General of the Federation and Minister of Justice, Abubakar Malami, has said that ongoing investigation has revealed that about $301 million was given as under-hand dealings to some persons in a bid to hide the illegality of the Process and Industrial Developments (P&ID) gas supply and processing deal.
Mr Malami stated that the latest ruling of a court in the United Kingdom, overturning a $10 billion judgement awarded against it, is a result of the progress made from the investigation.
Mr Malami stated that some principal characters that were investigated have been arraigned and there have been certain convictions recorded.
He added that within the government employ, some retired staff have been alleged to benefit from the deal and the investigation will reveal their level of involvement.
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The Attorney-General of the Federation and Minister of Justice, Abubakar Malami, has said that ongoing investigation has revealed that about $301 million was given as under-hand dealings to some persons in a bid to hide the illegality of the Process and Industrial Developments (P&ID) gas supply and processing deal.
Mr Malami stated that the latest ruling of a court in the United Kingdom, overturning a $10 billion judgement awarded against it, is a result of the progress made from the investigation.
---
This episode is sponsored by
· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA
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Nigerian Government has said it spent N30.5 billion in response to COVID-19 between April and July 2020.
This is in response to a letter by the Socio-Economic Rights and Accountability Project (SERAP) which asked the government to provide a breakdown of how it spent the N36.3 billion donations and fund received to fight the COVID-19 pandemic.
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Nigerian Government has said it spent N30.5 billion in response to COVID-19 between April and July 2020.
This is in response to a letter by the Socio-Economic Rights and Accountability Project (SERAP) which asked the government to provide a breakdown of how it spent the N36.3 billion donations and fund received to fight the COVID-19 pandemic.
---
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Nigerian Lawmakers will by June 2021 be ready with the amended 1999 constitution of the Federal Republic of Nigeria for onward transmission to the President for his assent.
A programme of action prepared by the 58-man Senate Committee on Constitution Review headed by the Deputy Senate President, Senator Ovie Omo-Agege, outlined the activities of the National Assembly Joint committee culminating in the passage of the amendments to the constitution by the two chambers by the middle of 2021.
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President Muhammadu Buhari is set to attend the Fifty-Seventh Ordinary Session of the ECOWAS Authority of Heads of State and Government.
A statement issued on Sunday by the Senior Special Assistant to the President on Media & Publicity, Garba Shehu, said the President will leave Abuja on Monday for Niamey, Niger Republic where he is to participate in the summit.
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The Nigeria Centre for Disease Control has confirmed 100 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 55,005.
The Nigeria Centre for Disease Control (NCDC) in a late tweet on its official handle released on Sunday showed that the new cases were reported in 10 States, with Lagos recording thirty-nine cases, the FCT had twenty-two, Kaduna had nineteen cases and Oyo had seven cases.
A total of 43,013 persons have recovered from the virus while the death toll now stands at 1,057.
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European stocks pared earlier losses to trade higher on Friday, with bank shares outperforming supported by news that Spanish banks Bankia and Caixabank were considering a merger to create the biggest lender in Spain. On the economic data front, latest PMI figures showed the construction sector in the Eurozone contracted at the sharpest rate in three months in August, while in Germany shrank at the softest pace in the current six-month sequence of contraction and in Italy expanded for the fourth month in a row.
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Major stock indexes in the Asia-Pacific region plunged on Friday after a tech-led rout on Wall Street the day before. Investors took a breather after Wall Street set record highs in the previous sessions, with signs of broadening gains into other sectors. Also, traders start questioning the sustainability of recent big valuations and the connection with the economy as recent data pointed to a mixed picture. Meanwhile, renewed Sino-US tensions emerged after President Xi Jin Ping said Beijing will never accept foreign interference.
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UN human rights experts have told China a new security law for Hong Kong poses a serious risk to the city's freedoms.
The legislation has been widely criticised since it was imposed by Beijing in June after months of huge pro-democracy protests in Hong Kong last year.
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WTI futures reversed earlier losses to trade near 1% higher around $41.65 a barrel on Friday, as investors try to shrug off falling demand and oversupply concerns. A rebound in investors' mood after a tech-rout plunge on Wall Street the day before and a weaker dollar also supported oil prices. Meanwhile, investors await the US payrolls report later in the day for a clearer picture of the job market and the pace of the American economic recovery. On the week however, WTI lost near 3% so far and is on track to record the biggest weekly decline since June.
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Facebook says it will ban political advertising the week before the US election, one of its most sweeping moves against disinformation yet as CEO Mark Zuckerberg warned of a risk of civil unrest after the vote.
The social media giant also vowed to fact check any premature claims of victory, stating that if a candidate tries to declare himself the winner before final votes are tallied.
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The World Health Organization (WHO) has said that once a Covid-19 vaccine is approved, Africa will get at least 220 million initial doses.
The WHO Africa Program Area Manager Richard Mihigo said the first batch will prioritise front-line healthcare workers and vulnerable groups.
He said distribution will be based on the population of each country.
Mr Mihigo said all 54 countries had expressed interest in a Covid-19 vaccine.
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Nigerian Governmnet Bars Air France, KLM, Lists International Airlines Allowed To Operate
Nigerian Government on Thursday released the list of international airlines that will not be allowed to operate when flights begin from September 5.
The list of international airlines was announced by the Minister of Aviation, Hadi Sirika, during a briefing of the Presidential Taskforce on COVID-19 at the Nnamdi Azikwe International Airport, Abuja.
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Ogun State Government has hinted on plans to take over the reconstruction and rehabilitation of some major Federal Government roads within the state.
This was disclosed by the state governor, Dapo Abiodun, who briefed State House journalists after a meeting with President Muhammadu Buhari at the Aso Villa on Thursday.
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Nigerian Petroleum Minister PMS Price Increase Will Be Better In The Long Run
The Minister of Petroleum Resources (State), Mr Timipre Sylva has explained the recent increase in the price of petrol, admitting that the deregulation of the petroleum sub-sector will be difficult for a while but pay off on the long run.
Mr Sylva on Thursday said this during a briefing in Abuja and noted that the government no longer controls the price of the product.
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The Federal Government has adjusted the curfew from 12 midnight through 4am, as it continues the gradual easing of lockdown measures imposed to curb the spread of COVID-19 in the country.
Chairman of the Presidential Task Force on COVID-19, Mr Boss Mustapha, disclosed this on Thursday during a briefing in Abuja.
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The Nigeria Centre for Disease Control has confirmed 125 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 54,588.
The Nigeria Centre for Disease Control (NCDC) in a tweet on its official handle, showed that the new cases were reported in twelve states and the Federal Capital Territory (FCT).
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Amazon on Thursday said it will create a further 7,000 permanent jobs across the United Kingdom in 2020, taking total new jobs this year to 10,000.
The U.S. internet giant said the new jobs would be in over 50 sites, including corporate offices and two new fulfilment centres in the north east and central England.
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The latest data from Nigeria’s statistics agency shows that the demand for goods and services from China is still on the high as the Asian country tops the list of import trading partners by 31.41% in the second quarter of 2020.
This is despite the sharp fall in the value of the country’s total trade to N6.24 billion, representing 27.30% in Q2, against the 27.46% level recorded in the corresponding quarter, and 27.46% year-on-year.
According to the National Bureau of Statistics Foreign Trade in Goods Statistics released on Wednesday, the value of total imports dropped by 10.69% in the quarter in review, against the level recorded in Q1, but increased by 0.39% year-on-year.
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The Mint newspaper reported on Thursday reported that U.S. wireless carrier Verizon Communications Inc and Amazon.com Inc (AMZN.O) may invest more than $4 billion for a stake in India’s Vodafone Idea Ltd, sending shares in the struggling Indian telecom firm up as much as 14%.
Vodafone Idea, a joint venture between Britain’s Vodafone Group Plc (VOD.L) and India’s Idea Cellular, still owes roughly 500 billion rupees ($6.8 billion) to the Indian government. It is among India’s top three telecom firms by subscribers.
Amazon and Verizon did not return emails seeking comment outside regular U.S. business hours.
Shares in Vodafone Idea were up 9.6% at 10.85 rupees by 0645 GMT.
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The US has imposed sanctions on senior officials in the International Criminal Court (ICC), including chief prosecutor Fatou Bensouda.
Secretary of State Mike Pompeo accused the court of illegitimate attempts to subject Americans to its jurisdiction".
The Hague-based ICC is currently investigating whether US forces committed war crimes in Afghanistan.
The US has criticised the court since its foundation and is one of a dozen states which have not signed up.
President Donald Trump issued an executive order in June allowing the US to block the assets of ICC employees. He has repeatedly attacked the body and questioned its independence.
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The UN mission in South Sudan will set up a peacekeeping base in Lobonok, where six bodyguards of Vice-President James Wani Igga were killed last month.
The mission cited other attacks on civilians and humanitarian convoys in the region as the reason for setting up the new base.
The head of the mission, David Shearer, said the new base will enable them to provide a protective presence in the area".
According to the UN mission, there have been several attacks on aid workers in the last few days in the area.
The group wasn't part of the peace deal between the government and armed opposition groups signed in 2018 that ended years of violence.
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The UN mission in South Sudan will set up a peacekeeping base in Lobonok, where six bodyguards of Vice-President James Wani Igga were killed last month.
The mission cited other attacks on civilians and humanitarian convoys in the region as the reason for setting up the new base.
The head of the mission, David Shearer, said the new base will enable them to provide a protective presence in the area".
According to the UN mission, there have been several attacks on aid workers in the last few days in the area.
The group wasn't part of the peace deal between the government and armed opposition groups signed in 2018 that ended years of violence.
---
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· Afrolit Podcast: Hosted by Ekua PM, Afrolit shares the stories of multi-faceted Africans one episode at a time. https://open.spotify.com/show/2nJxiiYRyfMQlDEXXpzlZS?si=mmgODX3NQ-yfQvR0JRH-WA
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Africa’s richest man, Aliko Dangote endorsed former finance minister Ngozi Okonjo-Iweala to lead the World Trade Organization(WTO).
He revealed this through his twitter account saying that with her great knowledge in the field, she will lead Nigeria to victory.
The chairman of Dangote group of companies says there’s no one better suited for the task than his compatriot.
He added that a vote for her by all is a step in the right direction.
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The federal government has inaugurated a 27-man National Humanitarian Co-ordination Technical Working Group (NHCTWG) to provide technical support to the National Humanitarian Coordination Committee (NHCC) constituted by President Muhammadu Buhari to oversee all humanitarian actions in the country.
The working group was inaugurated by the Minister of Humanitarian Affair, Disaster Management and Social Development, Sadiya Umar Farouq, and is expected to enhance coordination and seamless delivery of humanitarian aid to affected communities in the country.
Farouq charged the members to ensure the implementation of all NHCC recommendations relating to the operationalisation of the CiSEC framework and guidelines and to propose a national vision for humanitarian action.
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The Minority Group in the House of Representatives has rejected the reported increase in the pump price of fuel from N148 to N151.56.
Minority Leader of the House, Ndidu Elumelu, made the position of the lawmakers known in a statement on Wednesday.
He described the announced price as unacceptable, saying it would result in an increase in the already high cost of consumer goods and services, as well as worsen the current economic hardship being suffered by Nigerians.
He stressed that it was important for the government to revamp the nation’s refineries, instead of resorting to fuel price increase at the detriment of Nigerians.
Elumelu, therefore, directed the PPMC to immediately rescind the purported announcement and revert to the former price, with a view to further reviewing it downward.
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The Nigeria Centre for Disease Control has confirmed 216 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 54,463.
In a late-night tweet on Wednesday, the nation’s health agency disclosed that the new infections were recorded in 15 states and the Federal Capital Territory (FCT).
Plateau had the highest number with Fifty- nine cases followed by Rivers, Abia, and Lagos which have 27, 22, and 20 more infections respectively
A total of 42,439 persons have recovered from the virus while the death toll now stands at 1,027.
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The Federal Executive Council (FEC) has approved $3.1 billion for the end to end automation of the Nigeria Customs Service (NCS).
Nigeria’s Minister of Finance, Zainab Ahmed disclosed this at the end of the FEC virtual meeting in Abuja on Wednesday.
According to her, the concessionary period is 20 years and the funding is solely from investors with the revenue expected from this automation pegged at $176bn.
The Finance Minister gave a breakdown of the project funding, and stated that the investors will be paid overtime according to a schedule that will be negotiated with the Federal Government.
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The Shanghai Composite Index gave up its early gains and fell 14 points or 0.4% to 3,398 on Wednesday at around 01:30 PM Shanghai time, dragged by basic material stocks and energy. The financial sector was also under pressure, as the first-half profit fall in some of the Chinese biggest lenders weighed. Sentiment was hurt by reports that the US extended China tariff exclusions for some goods, including medical masks and smartwatches,
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South Korea's consumer prices increased 0.7 percent year-on-year in August of 2020 following a 0.3 percent rise in the previous month, while markets expected a 0.4 percent gain. It was the highest inflation rate since March. The jump was mainly explained by a 15.8 percent increase in the fresh foods subindex, up from an 8.4 percent climb in the previous month. On a monthly basis, inflation jumped 0.6 percent after remaining unchanged in the previous month, rising the most in seven months.
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The Nationwide House Price Index in the UK increased 3.7 percent year-on-year in August 2020, beating market consensus of a 2 percent rise. On a monthly basis, the index rose 2 percent, the highest monthly increase since February 2004. Robert Gardner, Nationwide's Chief Economist said the bounce back in prices reflects the unexpectedly rapid recovery in housing market activity since the easing of lockdown restrictions. These trends look set to continue in the near term, further boosted by the recently announced stamp duty holiday, which will serve to bring some activity forward. However, most forecasters expect labour market conditions to weaken significantly in the quarters ahead as a result of the aftereffects of the pandemic and as government support schemes wind down.
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Oil prices increased on Wednesday, extending its previous gains, amid a bigger-than-expected fall in US crude inventories. Industry data showed US oil stockpiles dropped by 6.4 million barrels in the latest week to about 501.2 million barrels, compared with market consensus of a draw of 1.9 million barrels. Sentiment was also lifted by strong manufacturing data in China and the US. Factory activity in China grew the most in over nine years in August, amid the first increase in overseas sales. Meantime, US manufacturing sector rose at the fastest pace in 1-1/2 years in August, due to a jump in new orders. At around 06:00 AM GMT, WTI crude rose 0.9% to $43,16 a barrel, while Brent crude gained 0.8% to $45.96 a barrel.
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The official statistics agency on Tuesday said Brazil’s economy, the biggest in Latin America, contracted by a record 9.7 percent in the second quarter of 2020, plunging into recession as coronavirus lockdowns hit home.
The Brazilian Institute of Geography and Statistics (IBGE) in a statement said GDP is now at the same level as late 2009, at the height of the global financial crisis.
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Tunisia's parliament has approved the new government formed by Prime Minister-designate Hichem Mechichi.
Mr Mechichi appointed technocrats in his government as opposed to members of political parties as has been the case in the past.
Political parties had initially expressed mixed reactions to the selection of technocrats.
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Mozambique has begun the second phase of easing Covid-19 restrictive measures under the country’s latest state of emergency.
Cinemas, casinos, theatres, gymnasiums, driving schools and motorised sports have been allowed to reopen starting Tuesday.
They will all be required to frequently disinfect their premises and equipment and all people coming in to wear face masks and wash their hands.
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The Zimbabwean government has announced that schools will be reopened in two weeks for students who will sit for examinations later in the year.
Those preparing to sit for Cambridge examinations will resume on 14 September.
Students preparing for Zimbabwe School Examinations Council (Zimsec) examinations scheduled for 1 December will reopen on 28 September.
The cabinet made the decision after consultations with education and health officials.
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The French company Axens, which makes systems to convert oil and biomass into cleaner fuels, has won a contract to supply the technology for a multi-billion dollar refinery and petrochemicals plant in Nigeria.
Nigeria currently imports around 90% of its fuel despite being a major oil producer.
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The Department of Petroleum Resources (DPR) said with some of the ongoing modular plants across the country, combined with the Dangote Refinery and the expected commencement of the three plants in Port Harcourt, Kaduna and Warri refineries, Nigeria would become a net exporter of petrol in the next two years.
DPR Director, Mr. Sarki Auwalu, told the Minister of Information and Culture, Mr. Lai Mohammed, who visited the agency headquarters in Lagos that the flow of import would be reversed when the new refineries begin operations.
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The Department of Petroleum Resources (DPR) said with some of the ongoing modular plants across the country, combined with the Dangote Refinery and the expected commencement of the three plants in Port Harcourt, Kaduna and Warri refineries, Nigeria would become a net exporter of petrol in the next two years.
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The naira strengthened to N435 to a dollar at the parallel market yesterday as against about N480 to a dollar it had been trading in the past days.
This showed a gain of N45, representing about 9.3 per cent rise.
Currency dealers attributed the development to the planned resumption of forex sales by the Central Bank of Nigeria (CBN) to operators of Bureau De Change (BDC), which according to them is expected to bolster dollar liquidity in the market.
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The National Association of Resident Doctors (NARD) have embarked on an indefinite strike in Abuja, the nation’s capital.
The decision of the medical practitioners to down over the non-payment of COVID-19 hazard allowances and other related inducements promised by the government.
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Speaker of the House of Representatives, Femi Gbajabiamila, says he will embark on a ‘legislative diplomacy’ visit to Ghana on Wednesday, over hostilities against Nigerians living in the West African country.
Gbajabiamila who made this known to State House correspondents after a closed-door meeting with President Muhammadu Buhari on Tuesday.
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The Christian Association of Nigeria on Tuesday asked President Muhammadu Buhari to suspend the implementation of the Companies and Allied Matters Act (CAMA).
The suspension request was contained in an email statement forwarded to Channels Television by the office of CAN’s President, Rev. Olasupo Ayokunle.
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The Nigeria Centre for Disease Control (NCDC) said Nigeria on Tuesday recorded 239 new cases of the novel coronavirus.
The health agency revealed this in a late-night tweet.
The country now has a total of 54,247 confirmed cases, with 42,010 persons discharged and 1,023 deaths.
Plateau reported the highest number of cases with 116 while the Federal Capital Territory ranked second with 33 new infections.
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Official data shows India's economy contracted sharply in the three months to the end of June.
It shrank by 23.9%, its worst slump since the country started releasing quarterly data in 1996.
The coronavirus pandemic and a grinding lockdown caused massive disruptions to economic activity during the quarter.
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Bloomberg News reported on Tuesday that Apple Inc has asked suppliers to make at least 75 million 5G iPhones for later this year, along with new Apple Watch models, a new iPad Air and a smaller HomePod.
The report said the company expects shipments of these next-generation iPhones to reach as high as 80 million units in 2020.
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McDonald’s Corp has been sued by 52 Black former franchise owners who accuse the fast-food giant of racial discrimination by steering them to depressed, crime-ridden neighborhoods and setting them up for failure.
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Data from the revenue service on Monday showed that South Africa’s trade balance recorded a surplus of 37.42 billion rand ($2.24 billion) in July from a revised surplus of 45.73 billion rand in June.
The South African Revenue Service said Exports rose 6.1% on a month-on-month basis to 122.49 billion rand, while imports were up 22.1% to 85.07 billion rand.
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The minerals and energy minister on Monday said Botswana plans to add more 600 megawatts (MW) of solar and coal-fired power in the next six years as the country looks to wean itself off imports while also eyeing power exports.
Botswana currently has national demand of 600 MW, but recurring breakdowns at one of its main power stations have left the country reliant on imports and diesel generators to cover shortfalls.
Mines minister Lefoko Moagi said procurement for an additional 200 MW solar plant will start early next year , with completion expected in 2026, while a 10 MW coal-bed methane extraction plant is expected to be operational by the year 2025.
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South African petrochemicals group Sasol on Monday said that its Lake Charles Chemical facility in the U.S. state of Louisiana remained shut after Hurricane Laura made landfall last week.
The world’s top manufacturer of motor fuel from coal, said manufacturing facilities in Lake Charles shut down with high voltage transmission line corridors into the area damaged.
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Egypt finance ministry on Monday said it signed a $2 billion conventional and Islamic loan with several international and regional banks in a deal coordinated by two UAE lenders.
The ministry in a statement said Emirates NBD Capital and First Abu Dhabi Bank were joint coordinators and lead managers of the deal.
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Oil marketers on Monday expressed shock over the resurfacing of petrol subsidy in June 2020 as disclosed by the Nigerian National Petroleum Corporation in its latest operations report.
According to marketers of petrol, the government had since March this year declared that the downstream oil sector had been deregulated and as such there was no need for petrol subsidy.
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The tax revenue accruing to the Federal Government from Production Sharing Contracts with international oil companies operating in the country fell by $45.72m (N16.46bn) in May.
The tax lifted as oil by the Nigerian National Petroleum Corporation on behalf of the Federal Inland Revenue Service dropped to 2.56 million barrels valued at $59.34m in May from 4.38 million barrels ($105.06m) in April, according to data from the corporation.
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Indigenous contractors on Monday staged a protest at the headquarters of the Federal Ministry of Finance, Budget and National Planning to kick against the non-payment of their N18bn contract sum by the ministry.
the Publicity Secretary, Local Contractors of Nigeria, Dandy Rowland while speaking on behalf of the aggrieved contractors, told journalists that the affected firms executed contracts for various ministries, departments and agencies, but their pay had been delayed by the finance ministry.
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The Federal Government has raised the share capital of the Agricultural Credit Guarantee Scheme to N50bn from N3bn.
The Central Bank of Nigeria disclosed this in a document on Monday entitled Agricultural Credit Guarantee Scheme Fund (Amendment) Act 2019.
It stated that the ACGSF Amendment Act was assented to by the Federal Government on June 24, 2019.
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Oil rose on Monday, with Brent touching the highest in five months, underpinned by a 30% cut in Abu Dhabi crude supplies and encouraging Chinese data even as global demand struggles to return to pre-COVID levels in a well supplied market.
Brent crude futures for November LCOc1 advanced to $46.38 a barrel earlier, the highest since March, and was fetching $46.27 by 0656 GMT, up 46 cents, or 1%. U.S. West Texas Intermediate crude CLc1 was at $43.25 a barrel, up 28 cents, or 0.7%.
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Nestle plans to pay $2 billion to gain full ownership of peanut allergy treatment maker Aimmune Therapeutics, as the Swiss company expands its fast-growing health science business.
Nestle set up Nestle Health Science (NHS) in 2011 to open up a new area of business between food and pharma.
Nestle in a statement said that its offer for Aimmune values the California-based biopharmaceutical firm, which it has been working with since 2016 and in which it already has a stake of around 25.6%, at $2.6 billion.
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South Africa’s Sun International on Monday said it fell to a loss in the six months to June 30 after it was forced to close its operations for just over three months due to the coronavirus lockdown.
The casino and hotel company said its adjusted headline earnings, the main profit measure in South Africa, declined from 172 million rand to a loss of 885 million rand in the period.
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Kenya’s central bank in a memo to bank executives seen by Reuters on Monday said it will have to approve any plans by commercial lenders to issue dividends for this year an unusual move caused by the coronavirus crisis.
Lenders in the East African nation have seen their earnings plunge in the first half of this year, hit by higher provisions for bad loans, on the back of the COVID-19 pandemic.
They have also had to restructure more than a quarter of total customer loans, to provide relief to individuals and firms hit by the disruptions.
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AngloGold Ashanti and Barrick Gold said they will sell their effective 80% stake in the Morila Gold Mine in Mali, amidst a political crisis after soldiers seized power in a coup.
AngloGold Ashanti said Australian company Mali Lithium will buy the firm holding the two miners’ stakes in the mine, the other 20% of which is owned by the government of Mali, for between $22 million and $27 million.
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The Ghana Export-Import Bank (GEXIM), has begun a nation-wide campaign dubbed Made-In-Ghana 4P to encourage Ghanaians to support the growth and development of indigenous businesses.
The bank’s mission is to facilitate the transformation of Ghana’s economy into an export-led one by supporting and developing trade between Ghana and other countries, and also building Ghana’s capacity and competitiveness in the international marketplace.
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Ghana’s Kotoka International Airport will be re-opened to international flights effective Tuesday, September 1, 2020.
President Nana Addo Dankwa Akufo-Addo said this during his 16th address to the nation on measures taken by the government to curb the spread of the COVID-19 pandemic in the country.
According to him, every passenger who arrives in the country must possess proof of a negative PCR test.
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Nigeria is constructing, repairing and rehabilitating a total of 40 major bridges across the country. This was disclosed by the Minister of Works and Housing, Babatunde Fashola, while inspecting the Loko-Oweto Bridge, adding that the work on the bridges were ongoing despite the limited revenue of the Federal Government.
The minister said work was also ongoing on the Second Niger Bridge, the Ikom Bridge and 37 other bridges in Nigeria, which were being constructed, repaired or rehabilitated by his ministry.
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The Lagos Chamber of Commerce and Industry has appealed to the Central Bank of Nigeria to review its new policy on payments for imports to save the already ailing and distressed Nigerian economy from complete collapse.
A statement issued on Sunday by the Director General of LCCI, Dr Muda Yusuf, said that while the LCCI appreciated the efforts of the CBN in curbing abuses in the foreign exchange market, the policy measure would create more problems than it would solve.
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Figures from the Central Bank of Nigeria shows the country’s foreign reserves rose by 70 million dollars from 35.59 billion dollars as of August 20 to 35.66 billion dollars on August 27. The reserves had earlier dropped by $278.91m from $35.87bn on July 29 to $35.59bn on August 19.
According to the CBN’s monthly economic report for April, Nigeria’s international reserves increased from $33.69bn at the end of March to $36.46bn at the end of April 2020. This reflects the receipt of the proceeds of the International Monetary Fund’s Rapid Financing Instrument of $3.4bn.
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The insurance sector of the Nigerian economy contracted by 28.15 per cent in the second quarter of the year. This was contained in the National Bureau of Statistics’ Gross Domestic Product report for the second quarter of 2020.
In the report, the NBS said the finance and insurance sector consisted of two sub-sectors, namely financial institutions and insurance, which accounted for 89.82 per cent and 10.18 per cent of the sector respectively in real terms in Q2.
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The Minister of Agriculture and Rural Development, Sabo Nanono said the Federal Government has resolved to inject over N600bn as stimulus response into Nigeria’s agricultural sector.
Nanono said the fund would target small scale farmers to ensure food security and sustainability.
He disclosed this while on a tour of Dangote Fertiliser Plant and during a crucial meeting with other fertiliser companies in Lagos to galvanise their cooperation for the production of inputs.
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The Central Bank of Nigeria in the first quarter of the year said The Deposit Money Banks and merchant banks in the country borrowed N1.81tn.
according to data obtained from the CBN,they borrowed N274bn from the apex bank in April thereby increasing the amount borrowed to N2.08tn in the first four months of the year.
According to CBN reports, the banks continued to access the standing facilities window to square up their positions.Nigerian Banks Borrow N2.08tn From CBN In Four Months
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South Korean shares fell on Thursday after four straight sessions of gains, as the country recorded its highest daily coronavirus cases since early March and the central bank sharply downgraded its economic projection.
The benchmark KOSPI fell 11.94 points, or 0.50%, to 2,357.38.
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Japanese shares fell on Thursday on fresh worries about U.S.-China relations and ahead of a speech by Federal Reserve Chairman Jerome Powell later in the day.
The Nikkei 225 Index was down 0.39% to 23,200.07 by 0203 GMT, with consumer discretionary and telecommunications stocks leading the decline. The broader Topix index fell 0.44% to 1,617.20.
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The Chinese yuan has hit a seven-month hThe Chinese yuan has hit a seven-month high against the faltering dollar on Thursday. However, its pace of appreciation slowed following two days of gains.
Investors are growing cautious ahead of Federal Reserve Chairman Jerome Powell's remarks later in the session that could affect future monetary policy trajectory in the United States. Any major tweaks could spell more volatility for the dollar and other major currencies. Thursday's official guidance rate was the strongest since January 23.
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China is proposing to let U.S. regulators audit its state-owned enterprises in a concession aimed at solving their long-running accounting dispute. However, the bank says it would insist on redacting some information on national security grounds. A previous trial inspection done jointly by Chinese and U.S. regulators failed to yield an agreement.
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South Korea’s central bank has kept interest rates steady on Thursday. The bank, however, sharply downgraded its 2020 growth outlook and kept the door open for more monetary stimulus to support an economy hard hit by the coronavirus pandemic.
The Bank of Korea kept the seven-day repurchase rate at a record low of 0.5%, in an unanimous and widely expected decision, after 75 basis points of rate cuts this year. It said gross domestic product would likely shrink 1.3% in 2020 - the biggest contraction in more than two decades - from a previous forecast for a 0.2% decline.
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Asian shares touched two-year peaks on Thursday in the wake of Wall Street’s record run as cheap cash drove up big-cap tech darlings, although Sino-U.S. tensions caused caution to creep in as the session progressed.
MSCI’s broadest index of Asia-Pacific shares outside Japan had edged up 0.1% after earlier reaching its highest since August 2018.
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Britain’s Rolls-Royce said it aimed to sell its Spanish unit ITP Aero and other assets to raise at least 2 billion pounds to boost its balance sheet, which has been shattered by a travel slump brought on by the coronavirus pandemic.
Rolls-Royce also said on Thursday that CFO Stephen Daintith had resigned to take up another opportunity. It however adds that Daintith would remain in his role to support an orderly transition as he leads a plan to make 1 billion pounds of cost cuts this year.
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South African retailer, Massmart Holdings Ltd, says its first-half headline loss widened to 1.1 billion rand, as sales at its stores fell due to COVID-19 restrictions. In a statement on Thursday, the company, majority-owned by Walmart and operator of supermarkets and wholesalers, said its headline loss dropped by 36% in the six months to June 28 from a headline loss of 800 million rand in first half of 2019.
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The South African Reserve Bank is expected to keep interest rates on hold in the fourth quarter, despite an uptick in fuel prices and municipal tariffs pushing inflation to a four-month high in July.
This comes after Statistics South Africa, on Wednesday, said inflation quickened to 3.2 percent year on year, from 2.2 percent in June as lockdown restrictions continued to ease. In a statement, StatsSA said fuel was still 6.2 percent cheaper in July than it was in the same month last year, despite these increases.
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South Africa’s rand was slightly weaker early on Thursday, ahead of the release of the producer price index which will give more clues about inflation dynamics in Africa’s most industrialised economy.
At 0632 GMT, the rand traded at 16.9250 versus the dollar, 0.3% weaker than its previous close.
Government bonds were also a touch weaker early on Thursday, with the yield on the 2030 bond rising 3 basis points to 9.325%
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The Central Bank of Nigeria and the Bankers’ Committee would extend special stimulus package to Nigerian-registered airlines and the media industry.
The Bankers’ Committee said the gesture will mitigate the impact of Coronavirus on the sectors and to save jobs.
The Central Bank of Nigeria and the Bankers’ Committee would extend special stimulus package to Nigerian-registered airlines and the media industry.
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Latest data from the Nigerian National Petroleum Corporation has shown Nigeria’s refineries did not refine a barrel of crude oil in the 12 months to June this year but incurred a combined operating expense of 142.07 billion naira.
The NNPC attributed the declining operational performance of the refineries to ongoing revamp aimed at further enhancing their capacity utilisation once completed. According to the data, the Kaduna refinery incurred an operating expense of 60.20 billion naira from July 2019 to June 2020.
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Operators in Nigeria's power sector have been ordered to carry out mass metering of unmetered electricity customers nationwide. The Nigerian Electricity Regulatory Commission, on Wednesday, said the order was given by President Muhammadu Buhari.
In a tweet, NERC also declared that it had not approved any increase in electricity tariffs, as reported in some quarters on Wednesday.
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South Africa’s mines ministry has given the green light for the sale of AngloGold Ashanti’s last remaining assets in the country to Harmony Gold on condition that it does not delist from the Johannesburg stock Exchange. In an email, the Department of Mineral Resources and Energy said an application in terms of Section 11 of the MPRDA has been received and was approved on 24 July.
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Nigeria has approved a 10-billion-naira survival fund for transport workers and operators. The Minister of State for Transportation, Gbemisola Saraki, made this known when the President, Public Transport Owners of Nigeria Association, Isaac Uhunwagho, led the association’s National Executive Committee and Trustees to pay her a courtesy call in Abuja.
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The Federal Executive Council has approved the payment of 722.3 million naira to eight field forensic auditors engaged to audit 12,000 projects embarked upon by the Niger Delta Development Commission in states.
The Minister of Niger Delta Affairs, Godswill Akpabio, disclosed these to State House correspondents at the end of a meeting of the council presided over by the President, Muhammadu Buhari.
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The Nigerian Presidency, on Wednesday, commended the recently released GDP results for the second quarter of 2020 released by the National Bureau of Statistics despite a 6.10% decline year-on-year. The Special Adviser to the President on Media and Publicity, Femi Adesina, stated its position on the GDP figures in a statement titled “Our response to Quarter 2, 2020 NBS figures, by Presidency.” In the statement, Mr. Adesina stated that the overall decline of 6.1 per cent (for Q2 2020) and -2.18 per cent, for H1 2020, was better than the projected forecast of -7.24 per cent as estimated by the NBS.
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Chinese financial technology group Ant has unveiled plans for a stock market debut that may raise a record $30bn (£23bn).
The company, affiliated with online retail giant Alibaba, says it will sell shares in Hong Kong and Shanghai.
The announcement comes amid rising tensions as the Trump administration cracks down on Chinese firms.
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Crude oil prices rallied higher on Wednesday at Asia’s trading session. This was triggered by American oil producers shutting down most of their oil production in the Gulf of Mexico ahead of a pending hurricane storm and high hopes on China-U.S. trade talks.
Brent crude futures gained, trading at $45.94 per barrel as at 0515GMT. West Texas Intermediate crude was also up 0.03%, trading at $43.37 per barrel. Both crude oil benchmarks settled at a five-month high yesterday.
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On Monday, S&P Dow Jones Indices announced the largest changes to the 30-stock benchmark in seven years. Along with Exxon, which is being replaced by sales force Pfizer and Raytheon Technologies are being removed in favor of Amgen and Honeywell International. The changes take effect Aug. 31.
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The two neighbours have seen frequent flare-ups, but this latest spat over gas reserves and maritime rights has prompted fears that tensions could escalate further. Several other countries have stakes in the dispute and the two Nato allies are engaged in a war of words.
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The World Economic Forum announced on Wednesday that it decided to postpone its upcoming annual meeting in Davos, Switzerland out of an abundance of caution regarding Covid-19.
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Ethiopia’s prime minister and Sudan’s leadership said on Tuesday they would make every effort to reach a deal on a giant hydropower dam on the Blue Nile that has caused a bitter dispute between Addis Ababa and Cairo over water supplies.
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Kenya’s president extended a nationwide curfew for 30 days on Wednesday, saying coronavirus cases were rising in areas outside the capital. In a televised address, Uhuru Kenyatta also ordered bars and nightclubs shut for another 30 days - but increased the number of people allowed to attend weddings, funerals and other events. He said infections were slowing in Nairobi and the port and tourism hub of Mombasa.
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South Africa’s mines ministry has given the green light for the sale of AngloGold Ashanti’s last remaining assets in the country to Harmony Gold on condition that it does not delist from the Johannesburg stock Exchange.
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South Africa’s headline consumer inflation quickened to 3.2% year-on-year in July from 2.2% in June, data from Statistics South Africa showed on Wednesday.
On a month-on-month basis, the consumer price index was at 1.3% in July from 0.5% in the previous month.
Core inflation, which excludes prices of food, non-alcoholic beverages, fuel and energy, was also 3.2% year-on-year in July compared with a rate of 3.0% in June. On a month-on-month basis core inflation rose, to 0.7% from 0.3% previously.
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The European Union has suspended its training missions in Mali after the military coup this month that removed President Ibrahim Boubacar Keita from power, EU officials said on Wednesday.
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Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has advised Nigerian banks to support the media and aviation sectors through loan disbursements.
This is in view of the lingering Coronavirus pandemic which has wrought major economic havoc across different sectors, leading to revenue declines and multiple job losses.
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The Central Bank of Nigeria (CBN) has directed deposit money banks (DMBs) providing bank guarantees to Nigeria Bulk Electricity Trading (NBET) Plc and the Transmission Company of Nigeria (TCN) on behalf of the Electricity Distribution Companies (Discos) to take full responsibility for collections of the Discos’ bills.
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In a bid to give teeth to its new policy coup against over-invoicing and forex overpricing, the Central Bank of Nigeria (CBN) has begun moves to unveil and prosecute “buying companies” that had been engaged in the unwholesome practice, newsmen learnt yesterday.
Its Economic Intelligence Unit and Nigerian Financial Intelligence Unit (NFIU), newsmen gathered, are working with Interpol and the Federal Bureau of Investigation (FBI) to uncover companies that had been engaged in the forex fraud.
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Asian stock markets were mostly higher on Tuesday after the U.S and China indicated progress in trade talks, and as hopes of new coronavirus treatments boosted broader sentiment among global investors.
The upbeat sentiment in Asia on Tuesday followed reports that top U.S. and Chinese officials see progress in resolving concerns around the Phase 1 trade deal reached between the two countries in January.
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The People's Bank of China had set the onshore yuan's daily midpoint fixing at 6.9183 per dollar on Tuesday, firmer than Monday's 6.9194.
In China's interbank bond market, news of the call between U.S. and Chinese trade officials helped boost risk appetite, pushing treasury futures down sharply and boosting the yield on benchmark 10-year government bonds above 3%.
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In China, the yuan strengthened on Tuesday, with its offshore variant firming to within a whisker of 6.9 per dollar. This rise of the yuan came after senior U.S. and Chinese officials expressed optimism over resolving issues around their Phase 1 trade deal.
The offshore yuan rose to a high of 6.9007 per dollar on the news before pulling back. At midday in China, the currency stood at 6.9080, 61 pips firmer than Monday's close.
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In South Korea, shares closed 1.6% higher on Tuesday, their sharpest gain in nearly a month. The benchmark KOSPI closed up 36.90 points, or 1.58%, at 2,366.73.
Foreigners were net buyers of 151.8 billion won ($128.04 million) worth of shares on the main board.
On the foreign exchange market, the won ended at 1,185.1 per dollar on the onshore settlement platform, 0.34% higher than its previous close at 1,189.1. In offshore trading, the won was quoted at 1,185.6 per dollar, up 0.3% from the previous day, while in non-deliverable forward trading, its one-month contract was quoted at 1,185.6.
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Japan’s Nikkei share average, on Tuesday, briefly recovered to levels before the COVID-19 crisis hammered markets early this year. The recovery also comes as sentiment was boosted by treatment hopes, but pared back gains after investors booked profits.
The benchmark Nikkei share average rose 1.35% to 23,296.77, after rising as high as 23,431.04, a level unseen since February 21. There were 207 advancers on the index against 16 decliners.
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Etihad Airways is asking cabin crew to take up to six months unpaid leave from September as it tries to manage the impact of the COVID-19 pandemic. This is according to an internal memo and two sources familiar with the matter.
The Abu Dhabi state carrier, which lost 758 million dollars in the first half of the year, has been gradually resuming passenger services since June after grounding flights in March. In an internal memo, staff were told that the airline has more cabin crew than are required and that many are not being rostered on flights, which is not sustainable for the business.
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The German economy contracted by a record 9.7% in the second quarter as consumer spending, company investments and exports all collapsed at the height of the COVID-19 pandemic. This is according to figures released on Tuesday by the statistics office.
According to the figures, Germany's economic slump was much stronger than during the financial crisis more than a decade ago, and it represents the sharpest decline since Germany began to record quarterly GDP calculations in 1970.
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Researchers at the University of Hong Kong say a man who recovered from COVID-19 was infected again four-and-a-half months later, making his case the first documented instance of human re-infection.
The findings indicate the disease, which has killed more than 800,000 people worldwide, may continue to spread amongst the global population despite herd immunity.
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Renewed optimism over a U.S.-China trade deal and a smaller-than-expected decline in German economic output fuelled gains in European stocks on Tuesday, with Frankfurt shares hitting a one-month high.
The pan-European STOXX 600 index rose 0.4%, extending Monday’s gains, which were driven by positive updates on COVID-19 treatment efforts.
Shares of AstraZeneca rose 0.8% after the British drugmaker said it had started testing an antibody-based cocktail for the prevention and treatment of COVID-19.
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The South African rand extended its gains against the U.S. dollar early on Tuesday, helped by improved appetite in global markets for riskier currencies over the greenback.
At 0630 GMT, the rand traded at 16.8825 per dollar, 0.5% firmer than its close on Monday, as the dollar slipped.
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South African furniture and appliance retailer, Lewis Group Ltd reported a 30.8% drop in annual earnings on Tuesday, as the COVID-19 pandemic hit its last month of trading and increased impairments.
The retailer said its headline earnings per share fell to 260.2 cents in the year to March 31 from 376.2 cents a year earlier. Despite the effects of the pandemic, the company declared a final dividend of 65 cents per share for the year, taking the total dividend to 185 cents, 20.9% lower than the prior year.
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South Africa’s Nedbank Group says Raisibe Morathi has resigned as the chief financial officer and executive director of Nedbank Group and Nedbank boards with effect from September 30. The lender made the announcement on Tuesday in a statement. According to the financial services provider, Mike Davis has been appointed as CFO designate with immediate effect. Davis will also serve as the group’s CFO from October 1.
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The International Monetary Fund has called for the independence of central banks to be maintained. This was contained in a statement in response to a change of Zambia’s central bank governor.
According to the IMF, sustained economic growth and much needed improvements in living standards will not be possible without credible institutions and sound policies.
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Analysts have called on the Nigerian government to urgently introduce measures to reflate the economy. This comes on the back of Monday's Q2 GDP results released by the Naitonal Bureau of Statistics. The analysts, in separate interviews with THISDAY, urged the Nigerian government to boost investments in the digital economy and scale up the various interventions programmes designed to spur economic recovery.
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The Central Bank of Nigeria has moved to end the age-long practice of over-invoicing. This follows the use, by some businesses, to cart away the nation’s foreign exchange. In a statement, the apex bank directed banks and other authorised dealers to desist from opening Forms ‘M’ whose payment are routed through a buying company, agent, or other third parties.
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Nigeria has reported 321 more cases of coronavirus.
The Nigeria Centre for Disease Control announced the figure in a late-night tweet on Monday.
This brings the total number of confirmed cases in the country to 52,548, while the latest figure is just a case lower than the tally reported in the previous day.
The NCDC noted that the additional cases were reported from 23 states of the federation and the Federal Capital Territory (FCT).
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Latest figures on Monday have shown Nigeria's economy contracted by 6.1% in real terms in the second quarter of 2020 compared to a year earlier. The figures, according to the National Bureau of Statistics comes amid lockdowns which has taken its toll on Africa's largest economy and top oil producer.
The NBS said the decline was largely attributable to significantly lower levels of both domestic and international economic activity during the quarter, which resulted from nationwide shutdown efforts aimed at containing the COVID-19 pandemic."
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The Securities and Exchange Commission (SEC) has restated its resolve to increase the attractiveness of the Nigerian capital market and ensure investor protection by riding the market of fraudsters.
The Commission also revealed plans to reverse the current demography of participants in the market, hitherto comprised of aging investors, to include more millennia.
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Economists and financial experts have lamented the crisis rocking the naira and fall in foreign reserves, saying if appropriate measures are not taken the pressure on naira may see it hitting N500 per dollar soon.
They attributed the fall in naira at the parallel market which hit N480/$ last week to the forces of demand and supply as well as over-dependent on oil as the major source of the country’s external reserves.
The experts also stated that continuous fall in external reserves could have a ripple effect on the economy such as rise in unemployment, exchange rate, continuous rise in inflation, and reduction in production activities among other factors.
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Political sources in Tunisia say the country's premier-designate plans to gather the ministries of finance, investment and state property into a single department to be led by economist Ali Kooli. This comes under plans to revamp government and revive the economy.
The Premier-designate, Hichem Mechichi, is expected to announce his technocratic government’s 23 ministers within the next few days. Mechichi was proposed by President Kais Saied last month to replace Elyes Fakhfakh, who quit over allegations of conflict of interest, deepening a political crisis at a time when international lenders are asking Tunis to make painful reforms.
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Insurance group Old Mutual has warned of a hefty first-half loss as it braces for increased claims and subdued economic activity in the wake of the Covid-19 pandemic.
The group expects a loss of R5.62bn-R6.74bn in the six months to end-June, from profit of R5.81bn previously, saying in a trading update it will write down some of its investments due to a deteriorating economic environment.
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Banking group Absa has reported a profit collapse in its six months to end-June, when the Covid-19 pandemic resulted in credit impairments almost quadrupling.
Credit impairments rose 297% to R14.6bn in the group’s six months to end-June, with the group expecting customer loan and deposit growth to slow in the second half, with deposits expected to grow faster than loans.
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The Kenyan government plans to pump up to Sh1.6 billion into public schools in the next two months ahead of their scheduled reopening in January.
The cash will be used to set up additional classrooms, ablution blocks and labs, according to Education Chief Administrative Secretary Zack Kinuthia.
The project is being implemented through the secondary education quality improvement programme (SEQUIP) sponsored by the World Bank.
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IN Rwanda, officials have offered to help evacuate refugees being held in dire conditions in Libyan detention centres.
The central east African country, which is nine times smaller than the UK, is one of the world’s least developed states according to the United Nations (UN).
However, assisted by the African Union and the UN’s refugee agency, it has agreed to serve as a base of operations for an initial group of 500 refugees and migrants from a number of African countries being held in Libya - where UN officials say some 4,700 people are currently being detained in "dire conditions".
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Global education publisher Pearson (PSON.L) has appointed Andy Bird, a media veteran who ran the international arm of The Walt Disney Company, as its new chief executive to see it through the latest bout of turbulence to hit the company.
Pearson said Bird was due to start the new job on October 19, with current boss John Fallon remaining in the role until that date. He will then step down from the board and remain as an advisor until the end of the year.
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ByteDance investors are in talks to use their stakes in the Chinese technology firm to help finance their bid for its popular short-video app TikTok, according to people familiar with the matter.
ByteDance has been in talks to divest TikTok’s North America, Australia and New Zealand operations to potential acquirers, including Microsoft Corp and Oracle Corp. President Donald Trump has ordered the Chinese company to sever ties with the social media app in the United States, citing concerns over the safety of the personal data it handles.
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U.S. President Donald Trump, in a Fox News interview on Sunday, raised the possibility of decoupling the U.S. economy from China.
In a video excerpt, President Trump initially said the US doesn't have to” do business with China, and then later mentioned decoupling, adding that the United States will certainly do it if China doesn't act right.
President Trump entered into a high-stakes trade war with China before reaching a partial Phase 1 trade deal in January. The US president has since shut the door on Phase 2 negotiations, saying he was unhappy with Beijing’s handling of the corona virus pandemic.
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Europe’s pan-regional STOXX 600 rose 1.3% and the global benchmark added 0.4% after U.S. regulators authorised the use of blood plasma from recovered patients as a treatment option.
The rises follow healthy gains in Asia, where MSCI’s broadest index of Asia-Pacific shares ex-Japan jumped 0.8% to flirt with a six-month high touched last week and Japan’s Nikkei added 0.3%.
U.S. futures indicated gains on Wall Street ahead, raising the prospect of record highs for the S&P 500.
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Japanese shares ended higher on Monday, taking cues from gains in e-mini futures and Asian peers, but rising speculations around Prime Minister Shinzo Abe’s health weighed on sentiment.
The benchmark Nikkei share average rose 0.28% to close at 22,985.51, while the broader Topix gained 0.19% to 1,607.13.
Creating tailwinds to the market, e-mini futures for the S&P 500 rose 0.41%, while Hong Kong stocks rose 1.48%.
Trade volume was subdued as many market participants were absent due to the summer lull. The volume of shares traded on the Tokyo Stock Exchange’s main board was 0.78 billion.
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In South Korea, shares rose just over 1% on Monday, in line with Asian peers. This comes as the U.S. drug regulator’s authorisation of the use of blood plasma from recovered patients as a COVID-19 treatment lifted sentiment, while new domestic cases slowed. Both the Korean won and the benchmark bond yield weakened.
The benchmark KOSPI closed up 25.24 points, or 1.10%, to 2,329.83.
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Still in South Korea, the won ended trading at 1,189.1 per dollar on the onshore settlement platform, 0.24% lower than its previous close at 1,186.3.
In offshore trading, the won was quoted at 1,189.5 per dollar, up 0.2% from the previous day, while in non-deliverable forward trading its one-month contract was quoted at 1,189.4.
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Crude oil prices remained steady on Monday as storms closed in on the Gulf of Mexico, shutting more than half the region’s oil production.
Brent futures slipped 2 cents, or 0.1%, to $44.33 a barrel by 0316 GMT, while U.S. West Texas Intermediate crude was down 2 cents, or 0.1%, to $42.32 a barrel. Both benchmark contracts had risen early on Monday.
On the commodities market, gold recovered from early losses to trade 0.4% higher at $1,947.20 an ounce.
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Railway season ticket holders and commuters will see a 1.6% rise in fares from January in spite of a slump in passenger demand.
The Office for National Statistics (ONS) said about half of rail fares are pegged to July's Retail Price Index, which defied economists' forecasts and rose from 1.1% a month ago.
Passenger groups said an overhaul of the fares system was needed. UK consumer price inflation also rose, to 1% in July from 0.6% in June.
Robert Nisbet, of the Rail Delivery Group, which represents the train operating companies, told the BBC that the government is ultimately in charge of the price increases and that the industry would like broader reform of fares to make flexible travel easier.
The rail rise compares to 2.8% last year and is the lowest since 2015, which means a smaller price increase for travellers than last year.
According to the figures from the government's Office of Rail and Road, passenger numbers covering January to March fell 11.4% compared to the prior year.
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The US Postal Service has suspended new policies that were decried as an attempt to sabotage the 2020 election.
Postmaster General Louis DeJoy said he would reverse operational changes that critics say would hamper postal voting.
The U-turn comes as Mr DeJoy is due to testify to Congress and at least 20 states were preparing to sue.
There is a fierce debate over postal funding in 2020, as record numbers of Americans are expected to vote by mail due to the pandemic.
The US Postal Service (USPS) under Mr DeJoy had begun what it said were cost-cutting measures in recent months.
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US President Donald Trump has said tech giant Oracle would be a great company to take over TikTok's US operations.
It comes after Oracle was reported as a possible buyer of the Chinese social media app's business in North America, Australia and New Zealand.
Last week Mr Trump ordered TikTok's owner ByteDance to sell its US business within 90 days or face being shut down
Oracle's chairman Larry Ellison is a supporter of Mr. Trump and held a fundraising event for him in February.
Mr Trump's comments came after reports that Oracle was working on an offer for some TikTok assets with a group of ByteDance's investors.
According to those reports, Oracle was seriously considering buying TikTok's businesses in the US, Canada, Australia and New Zealand with investment firms, including General Atlantic and Sequoia Capital.
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South African power utility Eskom on Tuesday said it will implement planned blackouts on both Tuesday and Wednesday after breakdowns at a number of power stations overnight.
The company in a statement posted on Twitter that the power cuts, known locally as loadshedding, will last from 1400 GMT to 2000 GMT on Tuesday, and start again between 0700 GMT and 2000 GMT on Wednesday.
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Canada’s Ivanhoe Mines on Tuesday announced a deal with China Nonferrous Metal Mining (Group) Co. Ltd (CNMC) under which the companies would jointly look for African mining projects to explore, develop or acquire.
Ivanhoe’s co-chairmen Robert Friedland and Yufeng Sun said the strategic partnership would also see the companies, both active in Democratic Republic of Congo, exploring production, smelting, and logistics opportunities.
Friedland hinted at possible mergers arising from the agreement with CNMC, saying the partnership would begin by examining the synergies between the operations currently owned by our two companies.
CNMC Chairman Wang Tongzhou said he strongly believe that cooperation is the best way to achieving the goals of both companies.
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South Africa’s rand edged higher in early trade on Wednesday, extending the previous session’s gains, on dollar weakness and sustained optimism over a further easing of the country’s coronavirus lockdown.
The rand is expected to track global cues, including the release of U.S. Federal Reserve minutes.
At 0647 GMT, the rand traded at 17.2850 versus the dollar, more than 0.2% stronger than its previous close.
Government bonds were marginally firmer, as the yield on the 2030 bond dipped 0.5 basis point to 9.285%.
Local financial markets shrugged off the resumption of planned power cuts by ailing state electricity utility Eskom on Tuesday. Further outages are due on Wednesday after breakdowns at the utility’s creaking coal-fired power station fleet.
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Saudi state news agency SPA on Wednesday reported that Saudi Arabia’s King Salman bin Abdulaziz and Nigerian President Muhammadu Buhari discussed efforts taken to stabilise and rebalance global oil markets in a telephone call.
The News Agency said the two leaders stressed the importance of compliance, by all participants, to the OPEC+ agreement and the agreed upon compensation mechanism.
A ministerial panel of key OPEC+ oil producers, headed by Saudi Arabia, is holding a virtual meeting later on Wednesday to review the oil market and the group’s compliance with the current oil supply cut pact.
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Ghana’s Central Bank along with individual financial institutions have been charged to channel more resources into the training of staff to help reduce employee involvement in fraud cases in the banking sector.
The latest banking industry fraud report from the Bank of Ghana revealed an alarming rate of involvement of employees of banks in perpetrating fraud in the sector.
The Bank in 2019 reported that out of the total number of 2,295 fraud cases reported suppression of cash and deposits accounted for the largest portion 77 percent, with staff of the financial institutions being the lead perpetrators of that type of fraud.
The Business Operations Manager at e-Crime Bureau, Philip Danquah Debrah while commenting on the growing involvement of both contract and permanent staff in bank fraud, explained that effective staff training and orientation of staff will go a long way in curbing such crimes.
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According to the Head of Research at Databank, Alex Boahen, the poor performance of financial stocks on the Ghana Stock Exchange for this year has been generally attributed to a combination of poor public sentiments, the fallouts from the banking sector reforms as well as the impact of COVID-19.
This was made known by the Head of Research at Databank, Alex Boahen.
The GSE Financial Stocks Index (GSE-FSI) which reflects the average performance of shares of listed financial companies, witnessed a significant drop of about 15 percent from January to August 17, 2020.
Mr. Alex Boahen while commenting on the performance of listed financial companies, said the low share prices presents an opportunity for investors.
He however expressed optimism about the performance of the financial stocks after this years’ general elections.
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The House of Representatives has summoned the management of DSTV over increment of the cable television’s subscription tariffs on June 1.
The House Ad Hoc Committee Investigating the Non-Implementation of Pay As You Go Tariff by Satellite Broadcast Service Providers issued the summons, asking DSTV, owned by South Africa-based Multichoice, to appear before it next Tuesday.
The committee gave StarTimes two weeks to review its subscription fees to reflect the current new 7.5 per cent Value Added Tax at its investigative hearing in Abuja on Tuesday.
Chairman of the committee, Mr Uyime Idem, said the directive was to allow Startimes to have a tariff that reflect the current economic realities, including the VAT and exchange rate.
The lawmakers decried that the tariff hike came at a time when Nigerians were suffering serious economic hardships caused by the coronavirus pandemic.
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A total of 3,800 power and distribution transformers are to be installed across the country based on the deal between the Federal Government with the German Government and Siemens AG.
The Office of the Minister of Power disclosed this in series of tweets on Tuesday, which were further affirmed by the Minister of Power, Sale Mamman, via his official Twitter handle.
The OMP explained that the 3,800 power and distribution transformers would come under the first phase of the Presidential Power Initiative deal with the German government and Siemens.
The total amount approved by FEC in July for the deal was N8,648,081,465.2.
Providing a breakdown on some of the distribution projects as proposed by power distribution companies to be implemented in phase one of the deal, the power ministry said 3,765 distribution transformers would be deployed.
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The Federal Government has commenced the process of reviving moribund industries across the country.
The Minster of Industries, Trade and Investment, Otunba Adeniyi Adebayo, disclosed this when he led a Federal Government delegation on a courtesy visit to the Emir of Kano, Aminu Ado-Bayero on Tuesday.
Adebayo, represented by the ministry’s Director Planning, Alhaji Tijjani Babura, said the purpose of the visit to Kano was to inspect and assess the affected industries.
According to him, the team was not only in the state to assess the collapsed industries but also to see how those managing their operations despite economic challenges would be supported.
According to him, the present regime is working assiduously to fine-tune modalities for addressing the challenges bedevilling collapsed industries in the country.
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Data obtained from the Organisation of Petroleum Exporting Countries showed that Nigeria’s rig count fell to six in July from nine in June.
The rig count, which stood at 21 in March, fell to 16 in April and eight in May.
The rig count is largely a reflection of the level of exploration, development and production activities occurring in the oil and gas sector.
The global oil benchmark, Brent crude, plunged to as low as $15.98 per barrel in April, its lowest since June 1999. It traded around $45 per barrel on Monday.
Analysts at Financial Derivatives Company Limited on Monday said that oil price volatility would continue in the coming weeks due to supply and demand concerns.
The collapse in crude oil demand and prices occasioned largely by the coronavirus pandemic has forced many operators to put exploration on the back burner.
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Indonesia’s current account deficit in the second quarter narrowed slightly from the previous three months to $2.9 billion, or 1.2% of gross domestic product. This is according to a central bank report released on Tuesday. The report showed first quarter’s current account gap was equal to 1.4% of GDP. In the report, Bank Indonesia said Portfolio capital inflows returned in the second quarter after significant outflows at the beginning of the coronavirus pandemic.
Indonesia had a $9.2 billion balance of payments surplus in the April-June quarter, compared with a $8.5 billion deficit in the first quarter.
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South Korean shares fell the most in two months on Tuesday. The Korean won edged up, while the benchmark bond yield fell.
The benchmark KOSPI closed down 59.25 points, or 2.46%, at 2,348.24 points. It marked the sharpest decline since June 15.
On the foreign exchange market, foreigners were net buyers of 71.0 billion won worth of shares on the main board.
The won ended trading at 0.08 percent higher against the dollar on the onshore settlement platform.
In offshore trading, the won was 0.2 percent lower than the previous day, while in non-deliverable forward trading, its one-month contract was quoted at 1,184.2.
In money and debt markets, September futures on South Korea's three-year treasury bonds rose 0.07 points to 112.21. The 3-month Certificate of Deposit rate was quoted at 0.65% in late afternoon trade.
The most liquid 3-year Korean treasury bond yield fell by 0.9 basis points to 0.818%, while the benchmark 10-year yield fell by 3.8 basis points to 1.362%.
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Asian shares made cautious gains on Tuesday.
MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.43% percent, edging closer to its pre-pandemic late January high.
Chinese blue chips rose 0.18%, continuing directions of travel set on Monday.
Australia’s benchmark rose 1% as new coronavirus infections in the country eased.
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The yuan hit a more than five-month high against an easing dollar on Tuesday. This comes amid relief from investors that a U.S.-China trade deal appears intact despite rising political frictions on a host of other issues.
Prior to the market opening, the People's Bank of China set the midpoint rate at a new five-month high of 0.05% firmer than the previous fix of 6.9362. Tuesday's guidance rate was the strongest since March 9.
In the spot market, onshore yuan rose to a high of 6.9250 at one point, the loftiest level since March 9. By midday, it was changing hands
at 6.9315, 3 pips firmer than the previous late session close.
The offshore yuan was traded at 6.9265 per dollar by midday.
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U.S. President, Donald Trump, has rejected a Pentagon proposal to cut military healthcare by 2.2 billion dollars.
President Trump made the announcement in a tweet, saying the rejection was aimed at protecting military professionals.
The cut proposed to the military health system over the next five years came as part of an effort by Esper that started last year with the goal of eliminating inefficiencies within the Pentagon’s coffers.
About 9.5 million active-duty personnel, military retirees and their dependents rely on the military health system. The military’s government-run healthcare network operates hundreds of facilities around the world.
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US banking giant, Citigroup, has asked a federal court to force hedge fund Brigade Capital to return 176 million dollars. The money is part of the 900 million dollars the bank accidentally transferred to creditors of the struggling cosmetics company Revlon. In a filing to the Southern District of New York Court, Citigroup said it meant to make interest payments on behalf of Revlon but transferred amounts more than 100 times the size intended.
The bank also says it meant to send Brigade just 1.5 million dollars to cover interest on a loan the hedge fund holds. According to the complaint, Brigade was supposed to receive interest on a 174.7 million-dollar loan. Citigroup blames the accidental over-payment on an "operational mistake".
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Norway’s 1.15-trillion-dollar sovereign wealth fund has posted a loss of 188 billion Norwegian crowns in the first half of 2020. This comes as stocks and real estate holdings fell in value during the COVID-19 pandemic. The decline followed record earnings in 2019, when the fund raked in profits of 180 billion dollars as global stock markets soared.
The world’s largest sovereign wealth fund holds stakes in some 9,200 companies globally, owning 1.5% of all listed stocks. It also invests in bonds and real estate.
The overall portfolio had a negative return of 3.4%, with a decline of 6.8 percent for equities and minus 1.6% for unlisted real estate, while the value of fixed-income holdings rose 5.1% as interest rates plunged.
The overall value of the fund is now equivalent to about 214,000 dollars for every person in Norway.
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The Democratic Republic of Congo is expected to contract by negative 1.7% in 2020. This is according to data released by the country's central bank on Monday. The latest report is an improvement on an earlier forecast of a -2.4% contraction due to higher mining receipts.
The apex bank's statement says the mining sector has performed better than anticipated because of the success of confinement measures introduced to combat the coronavirus. This is paired with a rise in the global price of copper, which is one of Congo’s key exports.
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South African retailer, TFG, says it has concluded an agreement to buy select assets of budget clothes retailer Jet from the administrators of rival Edcon and expects to meet all conditions by the end of September.
TFG, known as The Foschini Group, said in July it will buy 371 stores and some assets of Jet for 480 million rand. The purchase is to enable TFG expand into the budget clothes market, a segment in which it is not a major player.
TFG says it has now reached an agreement for the assets in South Africa, where most of the stores it is buying are located. The retailer says similar agreements for stores in Botswana, Namibia, Lesotho and the kingdom of eSwatini are expected to be finalised shortly.
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The South African rand was slightly firmer against the dollar early on Tuesday, as the U.S. currency extended its fall to new lows on global markets.
At 0642 GMT, the rand traded at almost 0.2% stronger than its previous close. With no major domestic data releases due this week, the rand is expected to take its cue from global factors.
The rand had a torrid start to 2020, slumping over 20% against the dollar over the first quarter in the leadup to Moody’s downgrading the country’s sovereign credit rating to “junk” status. The rand has swung back and forth since and is still down almost 20% against the U.S. currency year to date.
Government bonds were flat, with the yield on the 2030 bond at 9.28%.
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The Nigerian body responsible for regulating the formation of companies says it generated 36 billion naira between 2017 and 2019. The Registrar-General of the Nigerian Corporate Affairs Commission, Garba Abubakar, stated this on Monday, while denying reports that the Commission realised 56 billion naira in two years.
Garba said the financial statement for 2018 showed there was nothing to pay as there were expectations from service-oriented agencies. He also said the commission needed money, infrastructure and staff to work.
Abubakar noted that the Commission had done reconciliation with the office of the Accountant-General of the Federation for 2014-2017 and that at the end of it, 485 million naira was accessed as outstanding from the Commission.
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An economic outlook released by Nigeria's finance ministry has shown the country expects to spend a record 12.65 trillion naira in 2021 despite severe revenue constraints. The document also said spending would focus on completing as many ongoing projects as possible, and that no new works would be allowed unless there were adequate resources to complete ongoing projects.
The spending by Africa’s largest economy, which is still reeling from low oil prices and the new coronavirus pandemic, is a 17.2% jump from the record 10.8 trillion naira budgeted this year. The projected debt servicing payments would consume 3.1 trillion naira of the spending, or just under 25%.
Additionally, revenues in the year are expected to reach 7.5 trillion naira in 2021, implying a higher deficit.
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Reports say the World Bank is unlikely to approve a much-needed 1.5-billion-dollars for Nigeria in August as planned due to concerns over desired reforms. This is according to three sources familiar with the talks who spoke to Reuters.
The World Bank, which has said Nigeria could be heading toward its greatest fiscal crisis in 40 years, had aimed to bring the loan to its board for approval this month. However, sources say negotiations over what Nigeria will do to secure it were incomplete. Another banking source said the loan could now not be approved until October.
A delay in financing from multilateral lenders could leave Nigeria being unable to fully finance a record 10.8-trillion-naira budget.
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Members of Nigeria’s major labour unions in the oil and gas sector have suspended the strike they embarked upon in protest against the non-payment of their salaries.
Officials of the Petroleum and Natural Gas Senior Staff Association of Nigeria and the National Union of Petroleum and Natural Gas workers called off the strike after various agreements were reached with the Federal Government.
PENGASSAN's National Public Relations Officer, said the strike was called off at 1.04 am on Tuesday.
At a meeting, the unions and the Nigerian government resolved that the three months salary arrears owed to oil workers would be paid through the Government Integrated Financial Management Information System platform.
Parties at the meeting also resolved that a new date would be fixed for all stakeholders to meet and discuss concerns surrounding the enrollment of oil workers on the IPPIS platform.
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BIGO Technology, a smaller rival of embattled Chinese appmaker ByteDance, is shifting servers from Hong Kong to Singapore, out of the reach of a new national security law at a time when it is seeking to emphasise independence from its Chinese parent.
The move, which follows India’s ban on the firm’s apps during this year’s flare-up in hostilities between New Delhi and Beijing, comes as the United States toughens scrutiny of Chinese-owned firms in one of its most promising markets.
Bigo, who owns Likee, and live streaming app, Bigo Live, compete with TikTok, has not been named by U.S. authorities, but a senior official of the firm told Reuters it hoped “not to be caught in the crossfire.
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U.S. President Donald Trump on Saturday said he could exert pressure on more Chinese companies such as technology giant Alibaba after he moved to ban TikTok.
Trump when asked at a news conference whether there were other particular China-owned companies he was considering a ban on, such as Alibaba replied that they are looking at other things.
Trump has been piling pressure on Chinese-owned companies, such as by vowing to ban short-video app TikTok from the United States. The United States ordered its Chinese owner ByteDance on Friday to divest the U.S. operations of TikTok within 90 days, the latest effort to ramp up pressure over concerns about the safety of the personal data it handles.
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Hong Kong Commerce Secretary Edward Yau told CNBC on Monday that rising U.S.-China tensions are unhelpful and that he will take up with the U.S. government the matter of Hong Kong goods for export to the United States to be labelled made in China.
According to a U.S. government notice posted last week, Goods made in Hong Kong for export to the United States will need to be labelled as made in China after Sept. 25.
Yau referred to World Trade Organization rules which state that Hong Kong is entitled to use its own labeling for its exports.
He also said that Hong Kong’s growth slowed to an “unprecedented” 9% decline in the second quarter.
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Shares crept back toward recent peaks on Monday as Chinese markets swung higher, while investors waited to see if the recent sell-off in longer-dated U.S. Treasuries would be extended and perhaps take some pressure off the dollar.
Europe was warming up to the new week slowly but was steady enough to keep MSCI’s broadest index of world shares. MIAPJ0000PUS inching closer to February’s record top of 581.02.
Chinese blue chips led the way with gains of 2.35%, as the country's central bank provided more medium-term loans to the financial system.
Beijing had also granted a patent for CanSino Biologics COVID-19 vaccine candidate Ad5-nCOV.
However, Tokyo's Nikkei fell 0.6% as Japan became the latest country to confirm its biggest economic contraction on record.
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The Japanese economy has shrunk at its fastest rate on record as it battles the coronavirus pandemic.
The world’s third largest economy saw gross domestic product fall 7.8% in April-June from the previous quarter, or 27.8% on an annualised basis.
Japan was already struggling with low economic growth before the crisis.
The figures released on Monday are a stark reminder of the severe financial impact faced by countries around the world.
Japan slipped into recession earlier this year following two successive quarters of economic contraction.
Its latest data for the April to June quarter was the biggest decline since comparable figures became available in 1980 and was slightly bigger than analysts had expected.
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The South African rand began the week stronger on Monday after President Cyril Ramaphosa announced a sweeping removal of lockdown restrictions over the weekend.
Ramaphosa said that from midnight on Monday a ban on alcohol and tobacco sales would be lifted, inter-provincial travel would be allowed and restaurants and taverns could return to normal business subject to hygiene protocols.
By 0631 GMT the rand was trading at 17.3400 versus the dollar, roughly 0.3% firmer than its previous close. Dollar weakness on global markets also supported the rand.
Government bonds were little changed in early trade, with the yield on the 2030 bond at 9.16%.
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Central bank official Plante Kibadhi on Saturday said the central bank of Democratic Republic of Congo has raised the main interest rate to 18.5% from 7.5%.
The regulator had lowered the rate from 9% in March in order to cushion the economy from the impact of the coronavirus crisis, following similar actions by African central banks as the virus spread across the continent.
The International Monetary Fund said the latest rate hike was carried out to re-anchor inflation expectations.
According to central bank figures, Year-on-year inflation in Congo stood at over 14% as of end-July, around 10 percentage points higher than at the same point last year.
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Egypt’s General Authority for Supply Commodities (GASC) on Saturday said it was seeking soyoil and sunflower oil in an international tender with a deadline for offers on Tuesday.
GASC said it wants at least 30,000 tonnes of soyoil and 10,000 tonnes of sunflower oil, and is seeking the oil for arrival from Oct. 25-Nov. 20.
GASC said payment would be made using a 180-day credit facility.
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Ghana’s finance ministry in a budget document on Monday said Ghana’s fiscal deficit is projected to narrow from 11.4% of gross domestic product (GDP) in 2020 to 9.4% in 2021.
The ministry forcasts that the deficit will narrow further to 6.4% in 2022, 4.9% in 2023 and 3.2% in 2024.
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A report by thr ban of Ghana has revealed a total number of 2,295 fraud cases as compared to 2,175 fraud cases reported in 2018.
The marginal increase in the number of fraud cases reported may partly be attributed to the improved efforts by the Financial Stability Department to identify, monitor and to ensure compliance with reporting of fraud cases in the industry.
The Banking Industry reported approximately GHS115.52 million as fraud to the Bank of Ghana.
Of the total values reported, approximately GHS33.44 million (28.96%) was reported as losses incurred while about GHS82.06 million (71.04%) was recovered.
The report also indicated that in 2019, 2,295 fraud cases were reported, as compared to 2,175 cases reported in 2018. 83 Institutions reported fraud cases in 2019 as compared to 72 in 2018.
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The National Bureau of Statistics stated on Friday that with an increasing focus on global climate change and the sustainable development goals, the dominance of oil revenue is expected to continually diminish.
It disclosed this during the virtual 2nd Nigeria Data Summit organised by the National Information Technology Development Agency, with the theme, Leveraging National Data for Nigeria’s Digital Economy.”
The Statistician-General, NBS, Yemi Kale, explained that although crude oil revenue had provided Nigeria with the opportunity to grow its infrastructure, this revenue would continue to diminish in future based on various tenable projections.
He said crude exports account for 80 per cent of total exports, which means much of the value creation and benefits of our minerals generally is not within our economy.
He added that there has been signs that in the emerging economic landscape of the future, our ability to continue to rely on crude oil earnings will be severely curtailed, for instance, gross oil and gas revenue was projected at N9.3tn in 2019.
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The Ghanaian Ministry of Trades has rejected claims of unfair treatment by Nigerian traders in the country during the enforcement of the Ghana Investment Promotion Council regulations.
It insisted that the traders must pay the required taxes and other fees imposed on them by the authorities.
This is happening despite the intervention of the presidents of Ghana and Nigeria through the Economic Community of West African States.
The victim had shown the officials his business registration certificate and other documents but the enforcement team was adamant as they insisted on shutting his premises.
The Head of Communications, Ministry of Trade, Prince Boakye Boateng while speaking on the incident on a Ghanaian radio station, Starrfm, said the Nigerian traders had failed to honour an ultimatum to meet the requirements.
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The Minister of Works and Housing, Babatunde Fashola, has inaugurated the executive management team of the Federal Housing Authority.
He charged the team to strive to complete the ongoing housing projects of the Federal Government across the country, while speaking at the inauguration ceremony at the Federal Ministry of Works and Housing in Abuja.
The new FHA team has Senator Olugbenga Ashafa as Managing Director/Chief Executive Officer.
Fashola congratulated the management team for the confidence reposed on them by the President and expressed hope that the trust and confidence would be justified in the discharge of their duties.
The minister told the new FHA management that the Act establishing the authority had set out clear responsibilities for the organisation.
He urged the management team to work assiduously to ensure that the challenge of housing gaps in Nigeria was addressed.
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Brent crude futures traded lower at $44.6 per barrel on Friday, as uncertainty over whether US lawmakers would strike an agreement on a new coronavirus relief package weighed on sentiment, while investor focus turns to an OPEC meeting next week, although Russian Energy Minister Alexander Novak said he does not expect quick decisions on output cuts. Brent crude futures headed for a gain of about 0.5% this week as oversupply concerns eased on the back of US data showing crude oil, gasoline and distillate inventories all fell last week amid higher production and fuel demand. Meanwhile, the gains were curbed after the IEA cut its 2020 oil demand forecast for the first time in several months, following a similar move from the OPEC.
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Online retail giant Amazon has launched an internet pharmacy in India, marking its entry into the country's online medicine market.
Amazon Pharmacy will make its debut in Bangalore and it may be trialed in other Indian cities.
The move comes as the online drugs business has been given a major boost during the coronavirus pandemic.
This year US technology giants have invested billions of dollars in the Indian economy.
The Amazon Pharmacy service offers prescription, over-the-counter and traditional Ayurveda medication as well as basic health devices.
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President Donald Trump on Thursday said that any deal to sell Chinese-owned social media app TikTok to an American company must substantially benefit the United States and provide total security.
Trump made the remarks after issuing an executive order banning transactions with TikTok’s Chinese parent Bytedance by mid-September after appearing to bless a sale of the popular video sharing app to Microsoft.
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Alphabet Inc’s, Google on Friday said it would no longer provide data in response to requests from Hong Kong authorities following the enactment of a new national security law imposed by China.
It added that it had not produced any data since the sweeping new law took force in June and would not directly respond to such requests henceforth.
Google in an emailed statement said as always, authorities outside the U.S. may seek data needed for criminal investigations through diplomatic procedures.
It added that Google reviewed all requests for user data and pushed back on overly broad ones to protect the privacy of users.
According to the Washington posts, Google also notified Hong Kong police on Thursday that it would direct officials to pursue any requests for data through a Mutual Legal Assistance Treaty with the United States, which involves routing through the U.S. Justice Department.
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South Africa’s rand edged higher on Friday in subdued trade, with the currency’s rally this week slowed by the resumption of nationwide power cuts and more evidence that the domestic economy remains under pressure.
At 0630 GMT the rand was 0.2% firmer at 17.3825 per dollar, not far off a close of 17.4000 on Thursday.
On Thursday, state power utility Eskom implemented nationwide rolling electricity blackouts, cutting up to 2,000 MW from the national grid. The company said the power cuts, or load shedding, would continue on Friday.
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South African retailer Woolworths on Friday said its profits for the 52-weeks to June 28 could plunge by as much as 70% due to the impact of the coronavirus crisis, high tax rate, and adoption of IFRS 16 accounting standards.
Woolworths said its headline earnings per share (HEPS) - the main profit measure in South Africa- would fall by between 60% and 70% compared to the 342.9 cents it reported a year earlier.
The owner of David Jones in Australia also impaired the carrying value of certain store assets, which will only negatively impact earnings per share and not HEPS.
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South Africa’s Sibanye-Stillwater on Friday said it expects to swing to a profit in the first half of 2020, boosted by higher precious metals prices and a weaker rand currency, sending its shares up sharply.
Shares in Sibanye, which said it remains positive about its performance in the second half of the year, were up 11.16% at 55.30 rand by 0836 GMT.
The precious metals producer, said headline earnings per share (HEPS) for the six months to June is expected to be 350 cents compared with a loss per share of 54 cents a year earlier when it was hit by strikes.
Sibanye said the inclusion of the Marikana operations, higher metals prices and a weaker rand currency helped partially offset foreign exchange losses and the impact of COVID-19 lockdown regulations on output.
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Fitch Ratings has predicted that the Central Bank of Nigeria’s (CBN) cash reserve requirement (CRR) policy will hurt Nigerian banks’ earnings.
According to the senior director for Europe, Middle East and Africa bank ratings at Fitch, Mahin Dissanayake said the Central Bank of Nigeria has been highly interventionist.
Jhe said while countries like South Africa and Kenya followed the global trend of giving banks more room to lend, Nigeria hasn’t budged, with CRR at 27.5 per cent.
The central bank also dips into the accounts when lenders fail to extend 65 per cent of their deposits as loans, a measure that was introduced to stimulate credit.
Dissanayake said that and other penalties push the effective hit on capital to between 40 per cent and 50 per cent.
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The Minister of State for Petroleum Resources, Timipre Sylva, said the country needs an oil price of $70 per barrel and a production of two million barrels per day to sustain its budget.
Sylva said the production cuts by the Organisation of Petroleum Exporting Countries and its allies had helped to stabilise the oil market, adding that all members of the alliance shared the same commitment to balancing supply and demand.
He said that the market is already starting to show signs of rebalancing; it’s stabilising. They believe towards the end of this year, they will see a rebalanced market.
The OPEC+ production cuts have helped lift the price of the international oil benchmark, Brent crude, from a low of around $20 per barrel in April. It stood at $44.85 per barrel as of 6:40pm Nigeria time on Thursday.
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The Managing Director of CHI Limited, Mr Deepanjan Roy, said the company is partnering with Niger State to drive the Central Bank of Nigeria’s backward integration programme.
Roy said this on Thursday in a statement entitled CHI Limited supports CBN’s backward integration programme.
He noted that the CBN rolled out a new policy to encourage backward integration for the local production of select items including dairy products to save depleting national reserves, revive local production capacity and create employment.
He said the new policy offered challenges and opportunities for major manufacturers of milk and dairy products in Nigeria.
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The House of Representatives on Thursday was against the Central Bank of Nigeria as it failed to account for the $11bn withdrawn from the Excess Crude Account for the implementation of the failed National Integrated Power Projects.
Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, failed to give full details on the withdrawals as earlier alleged by the Accountant-General of the Federation.
The money was withdrawn from the ECA between 2005 and 2007 to finance the NIPPs.
Adebisi Shonubi, a Deputy Governor of the CBN who represented Emefiele at an investigative hearing organised by the House Ad Hoc Committee on Power Sector Reforms, only accounted for the N1.51tn as Nigerian Electricity Market Stabilisation Facility approved and disbursed to Nigerian Bulk Electricity Trading Company after the privatisation exercise.
Shonubi stated that the apex bank, in line with the Federal Executive Council’s approval, granted a total sum of N213bn, out of which N189.1bn had been released so far, while N60.8bn had been repaid by the operators who accessed the fund through NBET.
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Nigerian Government said there is a likelihood of Nigeria sliding into another recession in the Third Quarter of 2020, making it the second time within four years.
The government said the COVID-19 pandemic resulting in crash of global oil prices among other economic factors had adversely affected the nation’s economy, with the Gross Domestic Product growth for Q2 most likely to be negative.
The Minister of State for Finance, Budget and National Planning, Clement Agba, said this in Abuja on Thursday at the beginning of a five-day interactive session on the 2021-2023 Medium Term Expenditure Framework and Fiscal Strategy Paper.
The event was organised by the House of Representatives’ Joint Committee on Finance; Appropriation; National Planning and Economic Development; and Aids, Loans and Debt Management.
The minister said the Nigerian economy faced serious challenges in the first half of 2020 with the microeconomic environment significantly disrupted by the pandemic.
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The National Bureau of Statistics in the country’s first unemployment data published since 2018 on Friday said more than a quarter of Nigeria’s workers were not in the labour force in the second quarter of this year.
The unemployment rate stood at 27.1% in the second quarter.
It stood at 23.1% in the previous report, which dates back to the third quarter of 2018.
Second-quarter unemployment among young people aged 15-34 was the highest at 34.9%.
Nigeria has been hard-hit by the fallout from the new coronavirus pandemic, grappling not only with its own outbreak, but also from a plunge in oil prices after lockdowns worldwide.
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Hong Kong shares closed flat on Thursday as caution prevailed ahead of a crucial U.S.-China meeting this weekend to discuss the progress of the bilateral trade deal.
Under the Phase 1 trade deal signed in January, China had pledged to boost purchases of U.S. goods by some $200 billion over 2017 levels. This included agricultural and manufactured products, energy and services.
At the close of trade, the Hang Seng index was down at 13.35 points or 0.05% at 25,230.67. The Hang Seng China Enterprises index rose 0.28% to 10,244.6. The sub-index of the Hang Seng tracking energy shares rose 0.6%, while the IT sector dipped 0.63%, the financial sector ended 0.56% lower and the property sector edged up 0.04%.
The three biggest H-shares percentage decliners were Tencent Holdings Ltd, which was down 2.02%, China Pacific Insurance Group Co Ltd, which fell 1.42% and Geely Automobile Holdings Ltd, down by 1.41%.
China’s main Shanghai Composite index closed up 0.04% at 3,320.73 points, while the blue-chip CSI300 index ended down 0.26%.
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The International Energy Agency has cut its 2020 oil demand forecast on Thursday, warning that reduced air travel due to the coronavirus pandemic would lower global oil demand this year by 8.1 million barrels per day.
The Paris-based IEA slashed its 2020 outlook by 140,000 bpd to 91.9 million bpd, its first downgrade in several months.
The agency said that while supply exceeded demand in June, uncertainty over future demand along with increased output by top producers means re-balancing oil markets will be “delicate”.
Data cited by the IEA indicated that mobility in many regions had reached a plateau but was increasing in Europe, though a rise in COVID-19 cases caused the agency to cut demand estimates for gasoline.
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Crude oil prices fell on Thursday after OPEC said it expected demand to drop more than expected, although data showing a decline in U.S. inventories lent support.
Brent crude was down 26 cents or 0.6% at $45.17 a barrel after a gain of around 2% in the previous session. West Texas Intermediate also lost 0.6%, a 25 cent decline to $42.42 a barrel which followed a climb of 2.6% on Wednesday.
Data from the US Energy Information Administration showed crude inventories fell by 4.5 million barrels. U.S. fuel demand rose to 19.37 million barrels per day last week, the highest since March while crude output dropped to 10.7 million barrels per day from 11 million bpd.
U.S. crude production is forecast to slide by 990,000 bpd this year to 11.26 million barrels per day, steeper than the 600,000 bpd decline it forecast last month.
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European stocks fell from three-week highs on Thursday, amid concerns about a tariff dispute between the US and Europe. At the same time, investors awaited news about a US coronavirus relief package after President Trump accused congressional Democrats of not wanting to negotiate.
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India has become the country with the fourth highest number of deaths linked to Covid-19 in the world. Its fatalities jumped by 942 on Thursday, taking its total to 47,033.
According to data collated by Johns Hopkins University, the rise in deaths pushed India’s toll past that of the UK, which had recorded 46,791 fatalities to date.
India also recorded its biggest single-day spike in cases with 66,999 new infections on Thursday, pushing the total to nearly 2.4 million.
Experts say the virus has been spreading rapidly within communities across India. Because the country is densely populated, tracing the chain of transmission has been difficult.
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UK travel firm, Tui, has seen a sharp jump in bookings for 2021 as customers make early plans for next year.
The UK's largest tour operator said bookings for next summer were up by a "very promising" 145%.
News of a bounce-back came as Tui posted a €1.1bn loss for the three months to June as lockdown brought the travel industry to a halt.
Tui's travel operations restarted in Europe, Mexico, the Caribbean and Egypt in mid-May.
Tui also said it had agreed compensation with aircraft maker Boeing over the prolonged grounding of 737 Max planes. The travel firm is to receive "staggered" compensation over the next two years, credits against future orders and a deferral of 61 aircraft deliveries. The exact amount of compensation has not been disclosed.
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Ericsson has identified key measures for benchmarking 5G technology.
The Chief Technical Officer, Ericsson Middle East and Africa, Mr. Zoran Lazarevic, said regulators across the Gulf countries have done an excellent job in supporting Communication Service Providers with an efficient spectrum allocations process for 5G deployments.
According to him, as a result of regulators’ work on 5G spectrum allocations, some of the first 5G deployments globally were executed by CSPs in the Gulf countries and these CSPs are now global leaders in 5G deployments.
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South Africa’s rand weakened slightly early on Thursday, pausing an advance in the previous session that saw the currency trade at its firmest in three days.
At 0600 GMT, the rand was 0.07% weaker. With lending rates still relatively high in South Africa, the rand and local bonds have seen inflows from investors ditching safe-havens. But analysts have said these may offer only short-term relief.
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South African coal company, Exxaro Resources, has reported a 40% jump in core earnings due to higher coal exports and a favourable exchange rate offsetting one-off items.
Exxaro said earnings before interest, tax, depreciation and amortisation, for the six months to June 30, rose 40% to 3.929 billion rand. It was boosted by higher commercial coal revenue offsetting higher costs.
The company said higher coal revenue was mainly driven by increased volumes of sales to power utility Eskom and a 39% rise in export volumes during the half-year.
The coal miner was deemed an essential service during South Africa’s lockdown, which lasted from late March to the end of May.
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South Africa’s total mining output fell 28.2% year-on-year in June compared to a revised contraction of 27.6% in May. This is according to data released on Thursday by Statistics South Africa.
Year-on-year output percentage changes showed gold fell to 17% from 21.8% in May 2019.
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Nigeria's Minister of Industry, Trade and Investment, Adeniyi Adebayo, has urged the Corporate Affairs Commission to ensure new regulations from the Companies and Allied Matters Bill, 2020, does not hamper efforts to support micro, small and medium sized enterprises.
The minister made the call against the backdrop of efforts by the commission to unveil new regulations for business registration processes following President Muhammadu Buhari’s recent assent to the amended legislation.
Speaking when he received the Chairman of CAC, Mr. Ademola Seriki, Adebayo noted that government is currently trying to help SMEs grow by removing all impediments in the sector. He said consideration should be given to them as regards issuance of fees.
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The total assets of the banking sector rose to 47.82 trillion naira as of the end of June. A member of the Monetary Policy Committee of the Central Bank of Nigeria, Dr Rafindadi Sanusi, disclosed this at the committee's meeting on Wednesday.
Dr. Sanusi said the report on the banking system stability review showed that despite the challenges posed by the COVID-19 lockdown, the banking system remained sound and resilient.
According to him, non-performing loans ratio declined to 6.4 per cent in June 2020 from 6.6 per cent in April 2020 and 9.36 per cent in the corresponding period of 2019. The MPC member said total gross credit increased by 3.33 trillion naira between May 2019 and June 2020 following the introduction of the Loan to Deposit Ratio policy.
He said most of the increase in credit was extended to manufacturing, consumer credit, general commerce, ICT and agriculture.
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The volume of petrol imported into Nigeria in May fell by 72.65 per cent. This is according to the latest data obtained from the Nigerian National Petroleum Corporation.
From a high of 2.25 billion litres in March this year, the volume of petrol imported into the country through the Direct Sale Direct Purchase scheme fell to 1.81 billion litres in April and 495.10 million litres in May.
Under the DSDP scheme, selected overseas refiners, trading companies and indigenous companies are allocated crude supplies in exchange for the delivery of an equal value of petrol and other refined products to the NNPC.
The NNPC data showed that the average daily supply of the product stood at 15.97 million litres in May, down from 60.43 million litres in April and 72.59 million litres in March.
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The Debt Management Office says Nigeria will auction 150 billion naira's worth of bonds by subscription on August 19.
The DMO said the breakdown of the figure includes a 25 billion naira 10-year reopening bond that would mature in January 2026. It will be offered at 12.5 per cent. The breakdown also included a 40 billion naira 15-year reopening bond that would mature in March 2035. It will be offered at 12.5 per cent.
It also showed a 45 billion naira 25-year reopening bond that would mature in July 2045. This will be offered at 9.8 per cent. The longest tenor of a 40 billion niara 30-year reopening bond will be offered at 12.98.
According to the DMO, the settlement date for the bonds is August 21, 2020.
The Federal Government’s bonds worth N130bn, which were auctioned in July, were oversubscribed by N340.13bn.
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The National Bank of the Republic of Belarus left its refinancing rate unchanged at a record low of 7.75 percent on August 22nd 2020. Policymakers said that they hold an additional meeting to discuss the rate on October 14th. In June, the annual inflation rate was at 5.2%, the same as in June as food prices slowed while cost of non-food goods rose further. The overnight credit rate and the overnight deposit rate were also left unchanged at 8.75 percent and 6.75 percent, respectively.
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Oil prices moved higher on Wednesday after an industry report showed that U.S. inventories of crude fell more than analysts expected, bolstering hopes that fuel demand in the world’s biggest economy can weather the coronavirus pandemic.
Brent crude LCOc1 was up 52 cents, or 1.2%, at $45.02 a barrel by 0648 GMT, after falling around 1% on Tuesday.
West Texas Intermediate CLc1 oil was up 49 cents, or 1.2%, at $42.10 a barrel, having dropped 0.8% in the previous session.
The American Petroleum Institute [API] said on Tuesday that crude stocks fell by 4 million barrels last week, more than analysts’ expectations of draw of 2.9 million barrels. Official government data is due later on Wednesday.
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The UK economy suffered its biggest slump on record between April and June as coronavirus lockdown measures pushed the country officially into recession.
The economy shrank 20.4% compared with the first three months of the year.
Household spending plunged as shops were ordered to close, while factory and construction output also fell.
This pushed the UK into its first technical recession defined as two consecutive quarters of economic decline since 2009.
Chancellor Rishi Sunak told the BBC that the government was grappling with something that is unprecedented and that it was "a very difficult and uncertain time.
chancellor Anneliese Dodds however blames Prime Minister Boris Johnson for the scale of the economic decline, saying a downturn was inevitable after lockdown but Johnson's jobs crisis wasn't.
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Gold dropped more than 2% to break below the key $1,900 per ounce level on Wednesday as a resurgent dollar forced bullion investors to reassess their positions after a record-breaking price rally.
Spot gold fell as much as 2.5% to a near three-week low of $1,863.67, resuming its free fall after a brief hiatus in early trade. It was down 1.6% to $1,881.55 by 0540 GMT, extending losses after a 6% plunge on Tuesday.
U.S. gold futures slid 2.8% to $1,892.
Prices of silver tumbled 3.3% to $23.96 per ounce after slumping 15% in the previous session.
IG Markets analyst Kyle Rodda said It looks like some of the euphoria is coming out of the gold market with a test of support around $1,800 now looking possible
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The South African rand strengthened and traded around 17.4 against the dollar on Wednesday, amid some optimism over a potential coronavirus vaccine after news that two more Covid-19 vaccine trials will take place in South Africa soon, with Johnson & Johnson and Novavax joining the Oxford vaccine trials which started in June. However, market sentiment was tempered by poor domestic data raising concerns over the country's recovery while markets await news about negotiations on a new US rescue package.
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According to a parliamentary report published on Wednesday, the country’s Cocoa Board (COCOBOD) said Ghana expects cocoa output of around 900,000 tonnes in the 2020/2021 season, up 5.8% from the forecast for 2019/2020.
Ghana is the world’s second-biggest cocoa producer. Its growing season runs from October to September.
The report also said the COCOBOD planned to raise $1.3 billion in syndicated loans to fund cocoa purchases during 2020/21 from a consortium of banks and financial institutions, with the government as guarantor.
The loan will carry annual interest of one-month Libor plus 1.75%, a commitment fee of 0.62% per year and an upfront flat fee of 1.25%.
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The FMDQ Holdings Plc has listed the United Capital Plc Series 1 N10.00bn Fixed Rate Bond under its N30.00bn Bond Programme in its platform.
The Exchange also admitted LAPO MFB SPV Plc Series 2 N6.20bn Fixed Rate Bond under its N20.00bn Bond Issuance Programme.
FMDQ said in a statement that the Nigerian debt capital market had continued to demonstrate buoyancy and resilience in the face of the pandemic.
It said this had authenticated its role and increased capacity to support domestic economic growth by providing alternative capital sources as well as the much-needed liquidity to boost working capital for corporates and governments.
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The Debt Management Office said the Federal Government will auction N150bn worth of bonds by subscription on August 19.
A circular by the DMO on Tuesday showed the breakdown of the figure to include a N25bn 10-year reopening bond that would mature in January 2026 and be offered at 12.5 per cent; and a N40bn 15-year reopening bond that would mature in March 2035 and be offered at 12.5 per cent.
It also showed a N45bn 25-year reopening bond that would mature in July 2045 and be offered at 9.8 per cent; and the longest tenor of a N40bn 30-year reopening bond to be offered at 12.98.
According to the DMO, the settlement date for the bonds is August 21, 2020.
The Federal Government’s bonds worth N130bn, which were auctioned in July, were oversubscribed by N340.13bn.
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The Federal Government on Tuesday said the supply of electricity remains a major challenge to the development of Information and Communications Technology as over 32,800 generators are used to power ICT infrastructure in Nigeria despite grid electricity.
Minister of Communications and Digital Economy, Isa Pantami, said this in Abuja at the inauguration of 11 ICT projects executed by agencies under his ministry in various states.
Pantami, who was responding to concerns raised by the Minister of Interior, Rauf Aregbesola, on the need to deepen Nigeria’s ICT to enhance security and boost the economy, explained that two major challenges confronting the sector were right-of-way issues and power constraints.
The communications minister pleaded with the Minister of State for Power, Goddy Jedy-Agba, who was also at the event, to intervene by improving power supply in Nigeria.
Pantami stated that the government was perfecting measures to deploy security agents to protect ICT infrastructure nationwide.
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The House of Representatives has stated that its investigation of the National Social Investment Programmes of the Federal Government is not about the Vice-President, Prof Yemi Osinbajo.
Chairman of the House Committee on Public Accounts, Wole Oke, stated this on Tuesday in Abuja made this known when the Permanent Secretary, Federal Ministry of Finance, Budget and National Planning, Mrs Olusola Idowu, appeared before the panel.
The committee had last week summoned the immediate past Minister of Finance, Mrs Kemi Adeosun; the incumbent Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed; and Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Farouq, to account for a total sum of N1.7tn appropriated for the implementation of the NSIP from 2016 to September 2019.
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The federal government has said it will not abandon its plan to concession up to 178 identified flare gas fields through its Nigerian Gas Flare Commercialisation Program (NGFCP) which it initiated in 2018.
The Technical Adviser (TA) on Gas Business and Policy Implementation to the Minister of State for Petroleum Resources, Mr. Timipre Sylva, Justice Derefaka, disclosed this during an Interview.
Derefaka, who is also the Program Manager for the NGFCP, said the country has been working on the modalities so far, adding that the process of concluding the first phase of the NGFCP was ongoing with the bid rounds.
According to the government, the NGFCP was designed as its strategy to eliminate gas flares from oil fields in the country. It noted that with potentially enormous multiplier and development outcomes for Nigeria, the NGFCP will support technically and commercially sustainable gas utilisation projects developed by competent third-party investors.
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Facebook on Monday said it has created a new unit devoted to financial services to harmonize payment systems on its platform.
The new group, called Facebook Financial, will be headed by e-commerce veteran David Marcus, who was a president at PayPal before joining the leading social network six years ago.
Marcus is one of the creators of Facebook’s digital money network Libra, and heads the team building a Novi digital wallet tailored for the currency.
Facebook Financial will handle management and strategy for all payments and money services across the Silicon Valley company’s platform.
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Some of America's biggest tech firms on Monday backed a challenge to President Donald Trump's restrictions on foreign workers.
Amazon, Apple and Facebook are among the companies arguing that the temporary visa bans will damage US firms.
Mr Trump imposed restrictions on some foreign workers to safeguard jobs for Americans during the virus pandemic.
Many of those affected by the measures are technology workers from India.
Microsoft, Netflix, Twitter and other big technology companies also backed the lawsuit, which was filed last month by major US business associations.
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According to a U.S. government notice posted on Tuesday, Goods made in Hong Kong for export to the United States will need to be labelled as made in China after Sept. 25.
The move follows China’s imposition of a national security law on Hong Kong and a U.S. decision to end the former British colony’s special status under U.S. law, escalating bilateral tensions that were already rising over trade war tariffs and the handling of the coronavirus outbreak.
The latest step will see Hong Kong companies subject to the same trade war tariffs levied on mainland Chinese exporters, should they make products subject to these duties, said the U.S. Customs and Border Protection notice.
It said that 45 days after its publication, goods must be marked to indicate that their origin is China.
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China’s Tencent Holdings will be under pressure to address concerns on the impact of a U.S. ban on WeChat-related transactions and outline its plans to mitigate any fallout as it reports second-quarter results on Wednesday.
The ban takes effect in September and the latest salvo in a worsening U.S.-China standoff, has cast a shadow over Tencent that aims to eventually get about half its gaming revenue from overseas, versus 23% as of last year.
The United States would be key to such a plan as it is the No.2 gaming market after China.
Tencent shares plunged more than 10% within hours on Friday after news of the ban, knocking as much as $74 billion off the tech giant’s market value.
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The Japanese giant Toshiba has sold its final stake in the personal computer maker Dynabook.
It means the firm no longer has a connection with making PCs or laptops.
Toshiba in a statement said Sharp bought 80% of Toshiba's personal computing arm in 2018 for $36m (£27m), and has now bought the remaining shares.
Toshiba's first laptop, the T1100, launched in 1985. It weighed 4kg (8.8 pounds) and worked with 3.5 inch (8.8cm) floppy disks.
It was launched at first only in Europe with an annual sales target of 10,000 units, according to the Toshiba Science Museum website.
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Official figures showed that Employment in the UK fell by the largest amount in over a decade between April and June.
The Office for National Statistics said the number of people in work decreased by 220,000 on the quarter.
This was the largest quarterly decrease since May to July 2009, the depths of the financial crisis.
The ONS added that the youngest workers, oldest workers and those in manual occupations were the worst hit during the pandemic.
The UK unemployment rate was estimated at 3.9%, largely unchanged on the year and the previous quarter, as millions remained on the government-backed furlough scheme.
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South Africa’s rand weakened early on Tuesday, remaining on the back foot after a national holiday that kept liquidity low and investors tentative ahead of local manufacturing data.
At 0700 GMT the rand was 0.07% weaker at 17.7000 per dollar, having touched 17.7800 overnight, its weakest level in close to 12 weeks.
The currency has suffered sharp losses in the past two weeks, losing around 8% of its value against the dollar as sentiment towards emerging market currencies soured with a pickup in the global economy seeming to be slower than initially hoped.
In the past session, stalled talks in the U.S. Congress over a stimulus deal kept investors cautious, leaving the rand with little forward momentum.
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Prime Minister Pravind Jugnauth late on Monday said a Japanese ship that ran aground on a reef off Mauritius two weeks ago has now stopped leaking oil into the Indian Ocean but the island nation must still prepare for a worst case scenario.
Jugnauth said the leak from a damaged oil tank on board the stricken vessel, the MV Wakashio, had stopped but that it still had 2,000 tonnes of oil in two other, undamaged tanks.
Jugnauth said in a televised speech said the salvage team has observed several cracks in the ship hull, which means that we are facing a very serious situation.
Mauritius has declared a state of emergency and former colonial ruler France has sent aid in what environmental group Greenpeace said could be a major ecological crisis. Japan has also sent help.
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South Africa’s Sasol on Tuesday warned that it will report an annual loss after a drop in oil and chemical prices and the impact of the coronavirus pandemic hit earnings.
The world’s top producer of motor fuel from coal said its headline loss per share is expected to be between 8.72 rand ($0.4949) and 14.86 rand in the year to June 30, compared with headline earnings of 30.72 rand per share during the same period a year ago.
Sasol said lower global chemical and refining margins and a 18% decrease in the rand per barrel price of Brent crude oil had hurts earnings.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) is also expected to fall by as much as 37% to between 30 billion rand to 39.5 billion rand.
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The federal government has stated its desire to boost investment in Nigeria’s natural gas market with its formal activation of the National Gas Transportation Network Code yesterday.
According to the Technical Adviser (TA) on Gas Business and Policy Implementation to the Minister of State for Petroleum Resources, Mr. Timipre Sylva, Justice Derefaka, the launch of the National Gas Transportation Network Code would open a vista of opportunities for investors interested in the country’s gas market.
Sylva in February had launched work on the National Gas Transportation Network Code and review of the code’s licensing framework and development of all its ancillary agreements have however been firmed.
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The Federal Government on Monday said Nigeria is on its way to becoming a major gold-producing hub in the West African region.
According to the government, this would diversify the country’s revenue base from crude oil and create jobs for its teeming youthful population.
The Minister of Mines and Steel Development, Olamilekan Adegbite, made the declaration in Abuja while taking stock of his first year in office as minister.
He said the international roadshows they have had in the past have produced fruits. Today, we have Thor exploration in Osun State through the Segilola Gold project.
Adegbite said the government had licensed two gold refineries that would refine gold to the London Bullion Market Association standard.
The minister projected that a number of industries would spring up across the gold value chain.
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The international oil benchmark, Brent crude, rose above $45 per barrel on Monday, supported by an improvement in Chinese factory data, rising energy demand and hopes for an agreement in the United States on more coronavirus-related economic stimulus.
Brent, against which Nigeria’s crude oil is priced, climbed by $0.81 to $45.21 per barrel as of 6:40pm Nigerian time on Monday.
the latest S&P Global Platts survey found that Quota compliance by the Organisation of Petroleum Exporting Countries and its allies fell to 96 per cent in July, from 106 per cent in June, with their collective production increasing by 1.10 million barrels per day.
OPEC+ output is set to rise even further in August, with the 22-country coalition hiking its quotas by about two million bpd in anticipation of higher global oil demand.
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President Muhammadu Buhari through the Senior Special Assistant to the President on Media and Publicity, Garba Shheu, on Monday said he has signed the instrument of accession of the agreement for the establishment of the African Trade Insurance Agency.
Shehu disclosed this in a statement titled ‘President Buhari signs instrument to enable African Trade Insurance Agency’.
The presidential aide said the agreement and the agency were registered with the secretariat of the United Nations in accordance with the Charter of the UN.
The statement said the agency when executed will acknowledge previous multilateral efforts made by African states towards regional economic integration through co-operation in trade liberalisation and development so as to attain sustainable growth, promote economic activity and create an enabling environment for foreign trade, as well as cross-border and domestic investments.
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Trademark registration documents showed that Beijing-based ByteDance, the owner of global short video hit TikTok, is taking steps to move into the online stock brokerage and wealth management business in Hong Kong.
the city’s online intellectual property database showed that ByteDance applied last December to register a trademark called Songshu Zhengquan, which translates to Squirrel Securities, in Hong Kong.
According to the database, the trademark application is being examined and areas of business it applied for include computerized financial information services, stock trading, brokerage services and stock exchange quotations.
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A bipartisan group of 13 U.S. senators have asked the U.S. Trade Representative’s Office (USTR) to remove 25% tariffs imposed in October 2019 on European Union food, wine and spirits, according to a letter seen by Reuters.
The tariffs, in retaliation for EU subsidies on large aircraft, hit French wine, Italian cheese and single-malt Scotch whisky, as well as cookies, salami, yogurt, olives from France, EU-produced pork sausage and German coffee.
Seven Republican and six Democratic senators in a letter to USTR on Friday said that American restaurants, retailers, grocers, importers and distributors are experiencing severe economic hardship due to the increased cost of goods.
The senators noted demand for these goods has declined, leaving importers and distributors with months’ worth of product, much of it perishable, in storage and in transit with no clear end date for the COVID-19 pandemic.
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According to reports, Twitter has approached TikTok's Chinese owner ByteDance to express an interest in buying its US operations.
Video-sharing platform TikTok has been at the centre of fierce debate in recent weeks and takeover talk.
Last week US Donald Trump ordered firms to stop doing business with TikTok within 45 days over security concerns.
Tech giant Microsoft is the front-runner to buy TikTok but now Twitter has emerged as a possible suitor.
According to sources quoted in the Wall Street Journal, it remains unclear whether Twitter can afford to buy TikTok from its Chinese owners and can complete a deal within the 45-day window.
The value of TikTok's US operations are unclear but estimates put it at tens of billions of dollars.
Twitter's market capitalisation is about $29bn (£22bn), dwarfed by Microsoft's at more than $1.6tn.
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Kenya’s Central bank on Friday said Co-operative Bank of Kenya will buy 90% of micro lender Jamii Bora Bank and the deal will complete this month, marking further consolidation in the East African nation’s banking industry.
Co-op Bank’s takeover of Jamii Bora was first announced in March and the deal is due to complete on Aug. 21, the central bank said.
Co-op Bank, owned by Kenya’s co-operative movement, is the country’s third-biggest bank by market share with nearly 10% of the domestic market and 159 branches across Kenya and South Sudan.
Jamii Bora, which is mainly focused on lending to micro-enterprises, is the second-smallest lender in Kenya with a market share of 0.09% and 17 branches across the country.
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The Bank of Uganda left its benchmark interest rate unchanged at 7% during its August 2020 meeting, after slashing it by 100bps in June to mitigate the effects of the Covid-19 pandemic on the economy. Policymakers said that economic activity is estimated to have contracted by 3.2% in the second quarter of 2020 as a result of a combination of coronavirus containment measures and floods.
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South African investigators are seeking to recover more than 400 million rand ($23 million) from German software firm SAP for two government contracts they allege were entered into unlawfully, court documents seen by Reuters show.
SAP, a major global business software company, said it was reviewing all its public sector deals in South Africa dating back to 2010, but it has not publicly flagged wrongdoing over the agreements in 2015 and 2016 with the Department of Water and Sanitation.
According to the court papers, Investigators say those contracts should be declared invalid because government regulations were contravened, reported here for the first time.
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The central statistics agency CAPMAS on Monday said Egypt’s annual urban consumer price inflation fell to 4.2% in July from 5.6% in June.
The agency said Month on month inflation increased to 0.4% in July from 0.1% in June.
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The Director General of the Securities and Exchange Commission, SEC, Rev. Daniel Ogbarmey Tetteh, has emphasized the need for fund managers to leverage on technology for business growth.
According to him, the impact of information and communication technology (ICT) in the securities industry has become increasingly critical considering the impact of the novel Coronavirus on the financial sector and transactions in general.
The SEC Director General, who was the guest speaker at the 2020 GIMPA Law School Webinar Conference, also cautioned financial institutions against cyber fraud as the COVID-19 pandemic has brought with it a significant increase in fraudulent activity.
He also urged businesses within the sector to frequently review their business models to meet the changing trends.
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The World Bank said it has approved $114 million to help Nigeria tackle its coronavirus pandemic.
The money comes in the form of a $100 million loan and a $14 million grant to be split between Nigeria’s 36 states and federal-level procurement of medical equipment, tests and medicine.
Africa’s most populous country has recorded more than 45,000 confirmed coronavirus cases and 930 deaths, but low levels of testing have left a muddy picture of the outbreak’s severity.
Shubham Chaudhuri, the World Bank’s director for Nigeria, in its statement said Nigeria has ramped up its efforts to contain the COVID-19 outbreak, but more needs to done at the state level, which are at the front line of the response.
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The Minister of Mines and Steel development, Mr. Olamilekan Adegbite, has reiterated the federal government’s commitment to boosting activities in the Gold and precious metals sector.
Adegbite said this during the formal launch of ‘Kano Gold Durbar,’ organised by Kian Smith Trade & Co. Limited and other stakeholders.
Adegbite commended the organisers, saying the event was a step in the right direction in showcasing Nigeria’s potential in gold craftsmanship.
He said what they are doing here presently is actually to convert gold in its raw form into derivatives that is jewelries, trinkets ornaments and more and that is why we are in Kano.
He said the government would support the sector by training people in the art of making jewelries. It will be 9-month a program and they are in the process of selecting people that they would train and who would now form trainers to others in Nigeria.
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The Nigerian Postal Service on Sunday said its stamp duty account was opened by the Central Bank of Nigeria under the Treasury Single Account.
The FIRS had claimed in a series of tweets last week that NIPOST operated an illegal Stamp Duty Account.
It also vowed to ensure that all monies in the account were recovered and transferred into the Federation Account, adding that NIPOST must account for every kobo in the account.
The postal agency in a statement issued on Sunday by its General Manager, Corporate Communications, Frank Alao said they hereby state categorically that the statement is false and made to misinform and mislead members of the public.
It said the name of the account was NIPOST Stamp Duties Collection Account, adding that the CBN gave instruction to Deposit Money Banks to commence the deduction of N50 stamp duties from bank customers accounts at the time.
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The Nigerian National Petroleum Corporation on Sunday put the worth of crude oil and gas exported from Nigeria between May 2019 and May 2020 at $4.47bn.
It also stated that the corporation remitted a total of N1.83tn to the Federation Account Allocation Committee during the same period.
The oil Firm in its just released financial and operations report for May 2020 further noted that a total export sale of $174.80m was recorded in May 2020, representing a 10.73 per cent decrease when compared to the preceding month.
It said crude oil export sales contributed $120.50m (68.94 per cent) of the dollar transactions for the review period, compared with $148.86m contribution in the previous month, while the export gas sales amounted to $54.29m in the month of May 2020.
According to the NNPC, the contribution from crude oil amounted to $105.08m, while gas and miscellaneous receipts stood at $8.71m and $19.37m respectively.
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Fidelity Bank says it has reviewed its card spending limit amid the lingering foreign exchange scarcity in the country.
The bank in an email to its customers said the spending limit for debit card was pegged to $300 monthly, while credit card remained unchanged at $1,000.
The email read in view of the ongoing foreign exchange scarcity, monthly international spend limit has been reviewed as follows: Debit card – $300; and credit card – $1,000.
Fidelity Bank in an email sent out in April to its customers said informed that the spending limit on your Fidelity naira Visa and Mastercard is now $1,000 monthly for international transactions.
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The Central Bank of Nigeria on Saturday officially changed the exchange rate of the naira to the dollar from N361 to N379 on its website.
The apex bank had earlier expressed its decision to unify the exchange rates in the country as forex scarcity persisted.
It was however yet to announce if this would be the official unified exchange rate. Experts have continued to clamour for a single exchange rate in the country.
The President, Association of Bureaux De Change Operators of Nigeria, Alhaji Aminu Gwadabe, said, It will ease regulatory supervision, ensure transparency and effective price discoveries, and deepen market perfections.”
The Senior Partner, Regulatory and Technology, Stransact Partners, Eben Joels, said the gap between the various exchange rates operating in Nigeria created arbitrage opportunities for highly connected individuals.
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Osinbajo in a statement on Sunday by the Senior Special Assistant to the President on Media & Publicity, Office of the Vice President, Laolu Akande, said FG will use part of N2.3tn ESP stimulus as buyer of last resort – VP Osinbajo.’
The statement said he disclosed this at the virtual edition of the 2020 presidential policy dialogue of the Lagos Chamber of Commerce and Industry.
He said as part of measures put in place to support small businesses, working with the central bank, they try to ensure that they are able to put in place a system whereby many businesses that have taken loans will be able to restructure those loans.
He said there is an ongoing conversation and they intend to keep the banks reassured that allowing generous restructuring programmes will be supported by the central bank and that the central bank will not throw them under the bus.”
He said the priority of the Federal Government in response to the economic challenges posed by COVID-19 was essentially to ward off a deep recession and to save jobs.
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Virgin Atlantic Airways has filed for Chapter 15 bankruptcy protection in New York, the United States, as the global airline industry reels from the coronavirus pandemic.
The protection under chapter 15 of the US bankruptcy code allows a foreign debtor to shield assets in the country. The crisis-hit Airline in July received a £1.2 billion ($1.5 billion) rescue deal to keep it solvent just days before it was due to resume passenger flights.
The carrier said the recapitalisation plan would be deployed over 18 months and has the support of shareholders, new investors and existing creditors.
Virgin Atlantic’s US bankruptcy court filing stated that it had negotiated a deal with stakeholders for a consensual recapitalization that will get debt off its balance sheet and immediately position it for sustainable long-term growth.
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US President Donald Trump has reimposed a 10% tariff on some Canadian aluminum products, saying it was done to protect US industry.
Canada and the US reached a deal last year to lift tariffs on steel and aluminum imports that had been imposed on grounds of "national security".
The US had imposed a 25% tax on steel and 10% on aluminum on Canada in 2018.
Prime Minister Justin Trudeau recently said he believes a new levy would have "no justification".
Mr Trump while speaking in Ohio on Thursday, said the tariffs were necessary to defend the US aluminum industry because Canadian producers had broken their commitment to stop flooding the US market with a cheaper product.
He said the step was absolutely necessary to defend our aluminum industry.
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Facebook founder Mark Zuckerberg personal wealth rose to $100bn (£76bn) after the launch of a new short-form video feature.
On Wednesday, Facebook announced the US rollout of Instagram Reels, its rival to controversial Chinese app TikTok.
Facebook shares rose by more than 6% on Thursday. Mr Zuckerberg holds a 13% stake in the company.
He joins Amazon founder Jeff Bezos and Microsoft’s Bill Gates in the exclusive so-called 'Centibillionaire Club'.
Technology bosses have been in the spotlight recently as the size and power of their companies and their personal fortunes continue to grow.
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Beijing on Friday accused the United States of suppression after President Donald Trump ordered sweeping restrictions against Chinese social media giants TikTok and WeChat.
Chinese foreign ministry spokesman Wang Wenbin told a regular press briefing that the US move came at the expense of American users and companies.
Trump’s executive orders, which take effect in 45 days, bar anyone under US jurisdiction from doing business with the owners of TikTok or WeChat.
They come as the world’s two biggest economies clash over a host of issues from the coronavirus to Hong Kong and Chinese telecoms giant Huawei.
Trump’s orders say the social media giants are a threat to US “national security, foreign policy, and economy”, as the president seeks to curb China’s power in global technology.
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President Donald Trump has told US firms they have 45 days to stop doing business with TikTok and WeChat, claiming the Chinese apps are a threat to national security.
Mr Trump signed two executive orders targeting two of China's biggest apps.
It is a major escalation in Washington's stand-off with Beijing over its power in global technology.
The announcement comes as Microsoft is in talks to buy TikTok ahead of a 15 September deadline set by Mr Trump.
The executive orders against the short-video sharing platform TikTok - owned by Chinese firm ByteDance - and the messaging service WeChat - owned by the Tencent conglomerate is the latest measure in an increasingly broad Trump administration campaign against China.
Analyst however said Mr Trump's orders are likely to be liable to legal challenges.
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Multilateral lender on Thursday said Cairo-based African Export-Import Bank has committed $400 million in loans and guarantees to Mozambique’s $20 billion liquefied natural gas (LNG) project.
Afreximbank’s move follows a similar commitment for the same sum by The African Development Bank last month.
Afreximbank in a statement said the financing will be used to partially finance activities required to extract natural gas offshore, its transfer to onshore processing facilities and then its conversion to LNG for export around the world.
The Mozambique LNG Area 1 Project is ranked Africa’s single largest foreign direct investment to date. It will consist of two LNG trains with a total capacity of around 13 million tons per year.
French energy major Total, the operator, has secured a $14.9 billion senior debt agreement, the biggest project financing Africa has seen.
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The Nigeria National Petroleum Corporation on Thursday said China’s CNOOC Ltd and South Atlantic Petroleum signed a preliminary agreement to resolve a dispute over Oil Mining Lease 130.
NNPC on its official Twitter account said that it signed a Heads of Terms (a non-binding broad outline of a deal) with the Chinese and Nigerian firms that seeks to address disagreements over the mining lease’s production sharing contract.
It did not provide details of the dispute nor the new proposed terms.
Oil Mining Lease 130 contains fields including Akpo and Egina.
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South Africa’s rand traded nearly 1% weaker early on Friday, near its lowest in 10 weeks, amid souring emerging market sentiment led by Turkey’s currency crisis and increased tension between China and the United States.
At 0700 GMT the rand was down 0.9% at 17.5550 per dollar, not far off Thursday’s session low 17.6596, its softest since late May.
Turkey’s lira plunged to a record low on Thursday, just two years after a devastating currency crisis that brought a recession and exodus of foreign investment, raising fears that state efforts to stabilize the currency could fizzle and spark bigger problems for the Middle East’s largest economy.
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Data on Friday showed that the South African central bank further cut its government bond purchases in July, buying 2.5 billion rand ($142 million) worth, or half the amount it bought in June, to bring its total holdings to 38.4 billion rand.
Rampant selling of government debt in March and April, as the coronavirus struck, forced the bank into emergency liquidity measures, including a quantitative easing style purchase of bonds in the secondary market.
Governor Lesetja Kganyago at the rate meeting two weeks ago stressed the bond buying was to support liquidity rather than finance government’s ballooning budget deficit.
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The Governor of the Bank of Ghana, Dr. Ernest Addison, says the central bank has put in place stringent measures to rapidly detect signs of distress exhibited by financial institutions, to immediately step in and protect the funds of depositors.
The Governor says the measures include tightening of the bank’s supervisory role to stop the financial malfeasance that led to the collapse of some financial institutions including nine local banks.
Dr. Addison while speaking at the 2020 GIMPA Law School webinar Conference on the Banking and Financial Sector Crisis, said the central bank has learnt from previous events, hence the decision to have early warning signs in place to prevent another financial crisis.
He said the supervision of banks has been strengthened with systems and structures to identify problems and proactively mitigate to manage vulnerabilities and threats to stability. Going forward, the financial sector will require constant regulatory and policy attention to mitigate risks.
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Capricorn said the Zambian subsidiary of Nigeria’s Access Bank has agreed to buy Cavmont Capital Holdings, the Zambian arm of Namibian financial services group Capricorn, for a nominal fee of 1 kwacha ($0.0014).
The Namibian entity owns 98.03% of Cavmont Capital Holdings, which owns 100% of loss-making Cavmont Bank. Under the terms of the deal, Access Bank Zambia will acquire the entire issued ordinary share capital, assets and liabilities of Cavmont Bank.
Capricorn on Thursday said it has agreed to reinvest 300 million kwacha into the new entity as part of the agreement.
Cavmont Bank recorded a loss after tax of 19.8 million Namibian dollars ($1.14 million) in 2019, an improvement on a 46.6 million Namibian dollar loss the previous financial year.
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The Executive Vice Chairman of the Nigerian Communications Commission, Prof. Umar Danbatta, says commercial banks in the country owe telecommunication over N17bn for Unstructured Supplementary Service Data access.
This debt, according to him, accumulated following the regulator’s suspension of its determination on USSD pricing in 2019.
Danbatta spoke at ATCON’s virtual forum, themed Meeting the interests of government, consumers and telecoms companies in the era of Covid-19 and post COVID-19 pandemic for digital economy development’on Thursday.
Danbatta announced that it had revised the determination on the USSD in order to protect the interests of consumers and support a robust telecommunications sector.
The EVC noted that the Minister of Communications and Digital Economy, Dr Isa Pantami, had already been briefed on the development with a view to ensuring a quick settlement of the debt.
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The Nigeria Union of Petroleum and Natural Gas Workers and the Petroleum and Natural Gas Senior Staff Association of Nigeria on Thursday has voiced their disapproval to the deregulation of the downstream petroleum sector when the country is still relying on imports for refined products.
The Petroleum Products Pricing Regulatory Agency had yet to issue its guiding retail petrol price for the month of Thursday, leaving operators confused.
The PPPRA had earlier said it would advise the Nigerian National Petroleum Corporation and oil marketing companies on the monthly guiding retail price at which the product shall be sold across the country.
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The Federal Government has begun the process of restarting international flights.
the PTF National Coordinator, Sani Aliyu during a briefing on Thursday by the Presidential Task Force on COVID-19, said approvals have been given for aviation authorities to commence the process for the resumption of international flights.
Mr. Aliyu said the Nigerian Civil Aviation Authority (NCAA) and other aviation agencies, as well as airlines, are to come up with a safe process through which international airlines can commence operations.
The PTF Coordinator said when international flight operations resume, passengers would arrive three hours before flights, to ensure that there is no crowding of the airports.
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The House of Representatives has summoned former Minister of Finance, Mrs Kemi Adeosun; the incumbent Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed; and the Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Farouq, to account for a total sum of N1.7tn appropriated for the implementation of the National Social Investment Programmes from 2016 to September 2019.
The House Committee on Public Accounts also summoned the incumbent and former permanent secretaries and desk officers involved in the implementation of the NSIPs in both the ministries and the National Social Investment Office.
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According to expectations from firms, the retail and wholesale trade sector will drive business expansion in August.
The statistics department of the Central Bank of Nigeria disclosed this in its business expectation survey report. The survey was conducted in July.
The report said the analysis of businesses with expansion plans in August showed that the wholesale/retail trade sector indicates the highest disposition to expand with an index 46.3 points;
At -7.9 index points, it stated that the overall confidence index indicated respondents’ pessimism on the overall macro economy in the month of July.
However, it added, respondents were optimistic in their outlook for August with a confidence index of 33.7.
They expressed optimism in the overall business outlook in September 2020 and January 2021 as shown in a greater confidence of the economy, at 45.5 and 62.4 index points respectively.
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The Central Bank of Nigeria disbursed N539.8m loans to farmers between January and March 2020.
It disclosed this in its third quarter economic report on titled Agricultural credit guarantee scheme, obtained on Monday.
A total of N539.8m loans was guaranteed to 3,161 farmers under the Agricultural Credit Guarantee Scheme in the first quarter of 2020.
Sub-sectorial analysis showed that food crops obtained the largest share of the total, with N291.6m (54.0 per cent) guaranteed to 1,958 beneficiaries; followed by the livestock, N115.2m (21.3 per cent) guaranteed to 430 beneficiaries.
Analysis by state showed that 30 states and the Federal Capital Territory benefited from the scheme in the review quarter, with the highest and lowest sums of N54.8m (10.2 per cent) and N1.8m (0.3 per cent) guaranteed to Ogun and Nasarawa states respectively.
The bank stated that agricultural activities in the first quarter of 2020 were predominantly preparation of land for early wet season planting, harvesting of tree crops and irrigation-fed vegetables.
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Several major oil and gas projects in Nigeria may suffer further delays as international oil companies operating in the country saw their financials take a dive in the second quarter of this year.
The slump in oil prices caused by the coronavirus pandemic has forced many companies, including IOCs to slash their capital budgets and suspend some projects.
The global oil benchmark, Brent crude, plunged to as low as $15.98 per barrel in April, its lowest since June 1999. It traded around $44 per barrel on Monday.
Royal Dutch Shell said last Thursday that it posted a loss of $18.4bn in the second quarter of this year, compared to a profit of $3.5bn in the same period of 2019.
The company warned that the outlook for oil demand continued to be uncertain, saying it had cut its exploration drilling plans for this year from 77 wells to just 22.
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Eni, a global oil giant, with operations in Nigeria, on Monday said it complied with the law on issues pertaining to Oil Prospecting License 245.
It said in a statement issued by Eni’s subsidiary, Nigerian Agip Oil Company, the international oil firm stated it had published on its website the documents of the judicial investigation into the acquisition of OPL245 in Nigeria.
The IOC said it carried out an in-depth fact-checking on all the main points of the ongoing trial at the Milan Tribunal.
The oil firm said it had decided this transparency initiative in the belief that the reading of the documents would allow people to verify directly how Eni acted with absolute correctness and in full compliance with the law.
The firm said the development of OPL245 would have brought and would bring great economic and social benefits to the Nigerian people.
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India’s Flipkart on Thursday said it had acquired parent Walmart Inc’s local cash-and-carry business, as the e-commerce firm strengthens its wholesale offerings to compete better with Amazon.com Inc .
The Bengaluru-headquartered firm said the deal will allow Flipkart to launch a digital marketplace called Flipkart Wholesale next month, without disclosing any financial details of the deal.
Walmart, which has been running Best Price wholesale cash-and-carry stores in India since 2009, bought a controlling stake in Flipkart in 2018 for $16 billion.
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South African mobile operator Vodacom Group Ltd on Thursday reported a 7.6% rise in first-quarter group service revenue, buoyed by strong demand for voice, data and financial services in its domestic market during the coronavirus lockdown.
Vodacom, which is majority owned by Vodafone, said group service revenue grew to 18.7 billion rand ($1.14 billion)in the three months ended June 30, up from 17.4 billion rand from the year-earlier period. Overall group revenue grew by 5.6%.
Vodacom said the significant growth in demand for data assisted in offsetting the effects of the price cuts.
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South Africa’s rand gained early on Thursday, before a central bank decision on interest rates, as tensions between China and the United States resurfaced and weakened the dollar.
At 0650 GMT the rand was 0.27% firmer at 16.4275 per dollar from an overnight close of 16.4850.
The rand has strengthened most of the week, spurred by the rescue package the European Union agreed and by investor hopes of a quick global economic recovery.
The currency has managed to break through the 16.50 technical resistance mark but has struggled to get beyond that, with a surge of COVID-19 cases locally and abroad keeping bullish investors cautious.
The South African Reserve Bank concludes its three-day policy meeting on Thursday, with most analysts expecting it to cut rates by 25 basis points but some forecasting no change.
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According to Government sources, Sudan’s amended budget for 2020 includes a currency adjustment programmme beginning in August that aims to reach a full currency float in two years.
The country’s currency recently fell to a record low of 150 Sudanese pounds to the dollar on the black market, compared with 55 at the official rate. The black market rate was 140 pounds to the dollar on Wednesday.
Acting Finance Minister Hiba Mohamed Ali said the private sector will be allowed to import unlimited quantities of fuel to address shortages, which will lead to a rationalization of its price, referring to a removal of subsidies to help meet the reform demands of international donors.
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The African Development Bank (AfDB) on Wednesday said it has approved a roughly 5 billion rand ($300 million) loan to the South African government to help it fight the COVID-19 pandemic and support its budget.
Africa’s most industrialised economy was in recession even before COVID-19 started ravaging its economy. Forecasts are now for gross domestic product to shrink by at least 7% this year, and a budget deficit of around 15% of GDP.
The country has recorded the most coronavirus infections in Africa, with more than 380,000 cases.
The AfDB in a statement said that the loan was to protect lives and promote access to essential medical equipment, to protect livelihoods by preserving jobs, and to support companies in the formal and informal economy.
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Latest figures from the Ghana Interbank Payment and Settlement Systems (GhIPSS) show that patronage of electronic payment channels that go through the GhIPSS platform, increased by 81 percent in the first half of this year compared to the same period last year.
According to GhIPSS, the total volume of transactions spanning January to June 2020, stood at over 29 million compared to about 16 million transactions for the same period in 2019.
It also stated that specific channels such as GhIPSS Instant Pay (GIPS) saw a huge growth of almost 600 percent, while Mobile Money Interoperability grew by over 444 percent in the first half of this year.
Chief Executive Officer (CEO) of GhIPSS, Mr. Archie Hesse said the increase is driven mainly by transfers from account to wallet which represented 86% of GIP transfers.
He also stated that the country is making steady progress towards becoming a cashlite society, as about 60 per cent of all financial transactions were initiated and completed on the various electronic platforms in use.
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The total amount disbursed to farmers under the Commercial Agriculture Credit Scheme from inception in 2009 rose to N635.39bn as of the end of March 2020.
The Central Bank of Nigeria disclosed this in its Economic report for the first quarter of 2020 on agriculture, on Wednesday.
The report reads, at end-March 2020, the total amount released, since inception by the CBN under the Commercial Agriculture Credit Scheme to the participating banks for disbursement, amounted to N635.39bn for 608 projects, while the total amount repaid since inception stood at N406.29bn at end-March 2020.
The CBN stated that a total of N539.8m loans was guaranteed to 3,161 farmers under the Agricultural Credit Guarantee Scheme in the first quarter of 2020.
The CBN stated that the initiative was capable of boosting the structural transformation of the economy by providing opportunities for public and private sector investments.
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The Debt Management Office said the Federal Government Bonds for the month of July worth N130bn, which were auctioned on Wednesday, were oversubscribed by N340.13bn.
The total subscription received for the bonds was N470.13bn, comprising of N71.97bn for the 12.5 per cent FGN January 2026 bonds; N60.32bn for the 12.5 per cent FGN March 2035 bonds; N130.27bn for the 9.8 per cent FGN July 2045 bonds; and N207.57bn for the 12.98 per cent FGN March 2050 bonds.
The auction results published on the DMO site on Wednesday said that 36, 58, 70 and 29 were successful bids for the total bids for each bonds auction of 97, 87, 131 and 189 bids.
According to the DMO, successful bids for the 12.5000 per cent FGN January 2026, 12.5000 per cent FGN March 2035, 9.80 per cent FGN July 2045 and 12.9800 per cent FGN March 2050 were allotted at the marginal rates of six per cent, 9.5 per cent, 9.8 per cent and 9.95 per cent respectively.
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Micro, Small and Medium Enterprises who are members of the organised private sector have decried their inability to access the loan offered by the Central Bank of Nigeria for MSMEs and household impacted by the coronavirus pandemic.
Many who applied for the loan through NISRAL’s online platform did not get an acknowledgement of their applications while only a few got feedback from the organisation.
The acting Director-General, MAN, Ambrose Oruche, while sharing the experiences of manufacturers who tried to access the loan said 12 of MAN’s members who applied for the loan were not credited.
According to him, there was no acknowledgment from the NISRAL microfinance bank.
He said they had 12 companies that qualified; they prepared their business plans and sent their applications. The microfinance bank however did not acknowledge the application not to talk of giving out the loan.
He added that the N50bn loan did not get to manufacturers but mostly to households and traders.
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The Oyo State Government has approved N100bn private bond tagged the Oyo Prosperity Bond to facilitate the execution of priority projects in a bid to drive the state’s economic development.
This was disclosed in Ibadan by the Commissioner for Information, Culture and Tourism, Dr Wasiu Olatubosun, after the weekly State Executive Council meeting.
The SEC meeting was held virtually in compliance with the COVID-19 protocols.
According to Olatubosun, the fund would be raised in two tranches of N50bn each for the construction of the 50-kilometre Iseyin-Ogbomoso Road, the Ibadan Circular Ring-Road and the upgrade of the Ibadan Airport.
The fund will also cover the development of Ibadan Dry Port and the rail corridor which would serve as economic hubs of the state.
The commissioner stated further that the state would upgrade one government hospital in each of the three senatorial districts of the state.
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Oil prices fell on Wednesday as the United States government data showed a surprise rise in the country’s crude inventories, and as tensions escalated between the US and China.
According to Reuters, the international oil benchmark, Brent crude, fell 55 cents, or 1.2 per cent, to $43.77 per barrel by 10:56 EST (1456 GMT). U.S. West Texas Intermediate crude dropped 56 cents, or 1.3 per cent, to $41.36.
The Energy Information Administration on Wednesday said US crude and distillate inventories rose unexpectedly and fuel demand slipped in the most recent week, as the sharp outbreak in coronavirus cases has started to hit US consumption.
Crude inventories rose by 4.9 million barrels in the week to July 17 to 536.6 million barrels, compared with expectations in a Reuters poll for a 2.1 million-barrel drop. Production rose to 11.1 million bpd, up 100,000 bpd.
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The International Monetary Fund on Monday said it had approved $7.6 million debt relief to Burundi to help address the economic impact of the COVID-19 pandemic.
It said the relief for three months would be potentially raised to $24.97 million over the next 21 months, if resources are available.
The IMF in a statement said IMF debt relief will help free up resources for public sector health needs including other emergency spending and help mitigate the balance of payments shock posed by the COVID-19 pandemic.
The IMF said it has revised downwards economic growth projections for 2020 by 5.3 percentage points to -3.2 percent this year.
It said the pandemic has exacerbated preexisting economic challenges and creates significant external financing needs in 2020 and 2021, mainly as a result of lower exports, elevated imports needs, and reduced remittances inflows.
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The Institute of Energy Security, IES, says fuel prices will be marginally stable for the second pricing window for July 2020 across various pumps in the country.
According to them, the stability of the cedi against major currencies and a rise in the prices of Gasoline and Gasoil on the international market, will be the main factors for the marginal increase.
A litre of petrol or diesel is currently pegged at 4 Ghana Cedis, 82 pesewas.
In an interview with Citi Business News, Executive Director of IES, Nana Amoasi VII (the 7th), said competition between Oil Marketing Companies to control and gain more market share and mounting pressure on government to reduce fuel prices may result in prices remaining largely stable in the second Pricing-window for July.
He however added that, prices are likely to go up again due to the increases BDCs place on their prices before selling to the OMCs.
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The Chamber of Petroleum Consumers Ghana, COPEC, says government would have to be more serious about broadening the tax net especially by capturing the informal sector if it hopes to make up for the revenue shortfalls created by fallen crude oil prices.
According to COPEC, the COVID-19 pandemic has presented an opportunity for government to include the informal sector in tax issues as the sector also has a lot of potential in contributing immensely to revenue generation.
Executive Director for COPEC, Duncan Amoah, said the presentation of the Mid-Year Budget Review on Thursday July 23, should provide an opportunity for the Finance Minister, Ken Ofori-Atta, to come up with a policy direction stating alternative measures to collect revenue and ease the burden on the petroleum sector.
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According to currency exchange operators, the Federal Government’s move to unify multiple exchange rates in the country will attract over $25bn diaspora remittances.
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, had recently hinted of the Federal Government’s plans to unify the multiple exchange rates to generate more local currency from its dollar inflows and further achieve naira stability.
The President, Association of Bureau De Change Operators of Nigeria, Alhaji Aminu Gwadabe, while outlining the benefits of the unification, said It will attract over $25bn diaspora remittances, lead to increase liquidity and discourage speculation and hoarding.
According to him, the unification of exchange rates is a mechanism for a shift in the static exchange rate regime to a flexible exchange rate regime, and remains the only solution to forex market rate stability.
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Access Bank Plc on Monday announced the completion of the acquisition of Transnational Bank (Kenya) Plc.
The bank, in a notice to the investing public and the Nigerian Stock Exchange, noted that the acquisition followed the receipt of full regulatory approvals and fulfillment of all condition’s precedent to completion.
The bank’s Group Managing Director/Chief Executive Officer, Mr Herbert Wigwe, while commenting on the acquisition expressed excitement at the successful entry into the vibrant Kenyan market.
The discussion, according to a notice obtained from the NSE is regarding a potential transaction between Access Bank Zambia and Cavmont Bank Limited, a wholly owned subsidiary of Cavmont Capital.
The notice explained that the potential transaction was related to the sale of 100 per cent of Cavmont Capital’s interest in Cavmont Bank to Access Bank Zambia.
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The Governor of the apex bank, Godwin Emefiele, on Monday said About 20 projects valued at N26.28bn have been funded under the N100bn Central Bank of Nigeria credit support intervention for the healthcare industry.
The CBN also said it had received over 27 proposals from researchers requesting for N67bn grant.
Emefiele said this in Abuja during the inauguration of the Board of Experts of the Healthcare Sector Research and Development Intervention Scheme.
He said currently, 20 projects valued at N26.28bn have been funded under the N100bn credit support intervention for the healthcare industry.
He said some of the firms that have been able to obtain funding include hospitals, research centres and pharmaceutical industries.
The CBN Director (Development Finance), Philip Yusuf, said that the apex bank had received over 27 proposals from researchers requesting for N67bn grants.
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The Nigerian National Petroleum Corporation has increased the prices at which two of the country’s major crude oil grades would be sold in August.
According to Reuters, most of the country’s September loading programmes emerged on Monday, but traders were still waiting for Angolan allocations.
The NNPC on Monday raised its August official selling prices for Bonny Light and Qua Iboe crude oil to dated Brent plus 61 cents and plus 65 cents per barrel respectively.
The loading programmes for Bonny Light and Forcados will both have seven cargoes, Bonga will have four and Qua Iboe six.
Total loadings for the four key grades will be at 756,000 bpd in September up slightly from 743,000 in August.
Bonny Light and Qua Iboe were being offered at about dated Brent plus 90 cents to plus $1.00.
The international oil price benchmark, Brent crude, rose by $0.14 to $43.28 per barrel as of 8pm on Monday.
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The Central Bank of Nigeria on Monday retained the country’s benchmark interest rate or Monetary Policy Rate at 12.5 per cent.
The Governor, CBN, Godwin Emefiele, said the retention of the MPR at 12.5 per cent was the decision of the Monetary Policy Committee at its Monday.
The Lagos Chamber of Commerce and Industry said the business community was more worried by the silence of the apex bank on the uncertainty in the foreign exchange market.
Emefiele said the committee also noted that increasing MPR at the current stage of the economy would be counter-intuitive and would result in upward pressure on market rates and cost of production.
The CBN boss observed that further cut in MPR might not necessarily lead to a corresponding decrease in market interest rate, considering the current economic challenges.
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Fitch Ratings said the coronavirus pandemic and the oil price shock have caused a severe impact on credit rating in Nigeria and some other sub-Saharan African countries.
It stated this in its report on Monday titled Outlook on Sub-Saharan sovereigns is negative.
The report said Fitch forecasts the median real gross domestic product for rated SSA sovereigns will contract by 2.1 per cent in 2020, before returning to growth at four per cent in 2021, which is barely above trend growth.
Fitch said countries with a concentration on tourism, particularly Cabo Verde and the Seychelles, had also been badly affected.
It noted that the coronavirus pandemic and the oil price shock it triggered had had a severe impact on sovereigns in sub-Saharan Africa, which led to rating downgrades on seven of the 19 rated SSA sovereigns since the beginning of March 2020.
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China's Commerce Ministry on Thursday said China will take necessary measures in responses to Britain's "discriminatory" ban on Huawei Technologies Co Ltd, which has severely damaged China's investment confidence in the country.
Ministry spokesman Gao Feng during a weekly briefing said China is evaluating the UK actions that have betrayed free trade principles and will take necessary measures to resolutely defend Chinese firms' legal rights.
China's foreign ministry said Britain has lost its independence on the matter of Huawei adding that the British government should make responsible decisions in line with its long-term interests.
Gao urged Britain to correct its wrong behaviour and protect its good trade ties with China.
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Europe's top court on Thursday rejected a key EU tool used to transfer Europeans' personal data across the Atlantic for commercial use but upheld the validity of another tool used by hundreds of thousands of companies to transfer data worldwide.
The court said the Court of Justice invalidates Decision 2016/1250 on the adequacy of the protection provided by the EU-US Data Protection Shield.
It said it however considers that Commission Decision 2010/87 on standard contractual clauses for the transfer of personal data to processors established in third countries is valid.
The rulings came in a clash between Facebook (NASDAQ:FB) and Austrian privacy activist Max Schrems.
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Google has become the latest US technology giant to invest in Indian conglomerate Reliance Industries' digital business.
The Alphabet-owned search engine has agreed to pay $4.5bn (£3.6bn) for a 7.7% stake in Jio Platforms.
Reliance's billionaire owner Mukesh Ambani says the two companies will develop phones for 4G and 5G networks.
Google joins a list of new investors in Jio that includes Facebook, Intel and Qualcomm.
Mr. Ambani in a statement to shareholders said Google has empowered millions of Indians to access helpful information and, like Jio, is a force for change and innovation.
Google's chief executive Sundar Pichai said the pace and scale of digital transformation in India is hugely inspiring for them and reinforces their view that building products for India first helps them build better products for users everywhere.
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China's economy grew 3.2% in the second quarter following a record slump.
The world's second biggest economy saw a sharp decline in the first three months of the year during coronavirus lockdowns.
Figures however released on Wednesday show China's Gross Domestic Product (GDP) returned to growth during April to June.
The numbers are being closely watched around the world as China restarts its economy.
The figure is higher than experts were predicting and points towards a V-shaped recovery which is a sharp fall followed by a quick recovery.
It also means China avoids going into a technical recession - signified as two consecutive periods of negative growth.
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Official figures indicate that the number of workers on UK payrolls has fallen by 649,000 between March and June.
The total was not as big as many feared, because large numbers of firms have put employees on the government-backed furlough scheme.
Economists say the full effect on employment will not be felt until the scheme ends in October.
Analysts say the number of hours worked per week is currently a truer reflection of the impact of the coronavirus crisis because of the effect of the furlough scheme on the employment market.
The Office for National Statistics (ONS) said that since the start of the pandemic, total weekly hours worked in the UK had fallen by a record 175.3 million, or 16.7%, to 877.1 million hours.
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The Environment and Forestry ministry on Wednesday said Namibia has resumed the transport and export of timber, mostly rosewood, under strict new conditions ending a ban imposed in March.
Demand for furniture in China has led to widespread felling of rosewood in Africa even though the variety is protected under the United Nations’ Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES).
Spokesperson for the Ministry of Environment, Forestry and Tourism, Romeo Muyunda said presently forest resources are still reasonably good, but the fear is that they will turn into a desert because of uncontrolled timber harvesting.
The transportation of timber for local supply and processing will be given priority and the harvesting of new timber is still prohibited.
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Fitch on Wednesday said a failure by South Africa to lower public debt risks triggering credit downgrades deeper into subinvestment.
Debt in Africa’s most industrialized economy is set to breach 80% of gross domestic product next year as the government borrows more to bring the coronavirus pandemic under control.
Fitch downgraded South Africa’s credit rating deeper into “junk” territory in April, citing the lack of a clear path towards debt stabilisation and higher economic growth. The other top ratings firms, Moody’s and S&P, also rate the country at sub-investment grades.
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The public enterprises and finance ministries in a letter to the airline’s administrators seen by Reuters said South Africa’s government has committed to secure funds for the overhaul of struggling state-owned South African Airways (SAA).
On Tuesday creditors approved the plan, which requires at least 10 billion rand ($600 million) of new funds, on the understanding the government would find the necessary cash.
In the letter, signed by Public Enterprises Minister Pravin Gordhan and Finance Minister Tito Mboweni, the ministers said they acknowledged the funding requirements set out in the restructuring plan and were committed to mobilising funds for a viable and sustainable national airline.
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Anglo American Platinum (Amplats)on Thursday said the production of platinum group metal (PGM) fell by 41% or 521,600 ounces in the second quarter because of shutdowns in South Africa and Zimbabwe due to coronavirus crisis.
Amplats said Total PGM production for the quarter was 665,100 ounces.
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The nation’s economy recorded a net foreign exchange inflow of $9.35bn in February.
The Central Bank of Nigeria disclosed this in its February monthly report.
It said Foreign exchange flows through the economy resulted in a net inflow of $9.35bn in the review period, compared with $9.99bn and $4.58bn at end-January 2020 and end-February 2019, respectively.
It said the external sector performance declined in February due to the 11.7 per cent decrease in the international price of crude oil to $58.45 per barrel.
The CBN added that the aggregate foreign exchange inflow into the economy amounted to $16.19bn, indicated a decrease of 4.4 per cent, compared with the preceding month.
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Transcorp Hotels Plc has submitted an application to the Nigerian Stock Exchange for the approval and listing of a rights issue of 2.66 billion ordinary shares.
In a notice to its shareholders obtained from the Nigerian Stock Exchange, the company said it would be offering by way of rights 2,659,574,468 ordinary shares of 50 kobo each at N3.76 per share, on the basis of seven new ordinary shares for every 20 ordinary shares held.
It said this is pursuant to the approval received from the company’s shareholders at the Extra-Ordinary General Meeting held on June 29, 2020.
The Chairman of Transcorp Hotels Plc, Mr Emmanuel Nnorom, said the approval and endorsement of shareholders empowers the board and management to look to the future with confidence despite the current harsh operating environment.
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ETranzact International Plc’s rights issue of 4.67 billion ordinary shares of N0.50 each, at N1.50 per share on the basis of 10 new ordinary shares for every nine ordinary shares held as at March 25, 2020, has opened for subscription.
According to a statement signed by the Head, Listings Regulation Department, Nigerian Stock Exchange, Godstime Iwenekhai, the acceptance list opened on July 14, 2020 and closes August 10, 2020.
eTranzact International posted a loss after tax of N182.53m for the first quarter ended March 31, 2020 as against a profit after tax of N90.76m in 2019.
According to the audited report obtained from the NSE, the firm posted revenue of N5.915bn in 2020 as against N5.59bn in 2019, representing a growth of 5.81 per cent.
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The Central Bank of Nigeria on Wednesday asked the National Assembly to review all financial penalties and fines upwards in order to align with current realities.
It said this at the public hearing on the Bill for an Act to repeal the Banks and Other Financial Institutions Act 2004 and to re-enact the Banks and Other Financial Institutions Act 2020.
The public hearing, which held at the National Assembly complex in Abuja, was organised by the Senate Committee on Banking, Insurance and Other Financial Institutions.
The Director, Legal Services Department, CBN, Kofo Salam-Alada, pointed out that some of the provisions in the Act were not in tandem with present day realities.
The apex bank stated that the fines and penalties in the 2004 Act should be reviewed.
The bank commended the committee for proposing more stringent fines and penalties regime in the new bill in comparison with the extant Act.
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Latest figures from The Nigerian National Petroleum Corporation on Wednesday showed that the oil firm lost N30.81bn in April 2020, representing over 200 per cent increase in its operating deficit.
In the report on the corporation’s financial and operational activities for April 2020, the oil firm explained that the deficit posted by its flagship subsidiary, the Nigerian Petroleum Development Company, caused the over 200 per cent monthly loss recorded by the group.
It said the report in April 2020 indicates an increased trading deficit of N30.81bn compared to the N9.53bn deficit posted in March 2020.
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MTN Nigeria Plc has commenced the trial of embedded SIM services on its network as part of its drive to lead digital transformation, and improve customer experience and quality of service.
The telecom company during a virtual media launch of the e-SIM said it had received approval from the Nigerian Communications Commission to begin the trial.
The Chief Transformation Officer at MTN Nigeria, Bayo Adekanmbi, said the trial which kicked-off on Wednesday, would run for one year and was open to a limited number of subscribers, who own compatible devices, on a first-come-first-served basis.
He explained that the e-SIMs had been designed to deliver freedom and flexibility, adding that they supported multiple profiles and allowed customers to connect multiple numbers to their devices.
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The Federal Executive Council on Wednesday approved the 2021-2023 Medium Term Expenditure Framework and Fiscal Strategy Paper with N12.66tn budget projection for each of the three fiscal years.
The approval was given at a virtual meeting of the council presided over by President Muhammadu Buhari.
The Minister of State for Finance, Budget and National Planning, Mr Clement Agba, while briefed State House correspondents at the end of the meeting listed other projections in the budget to include $40 per barrel oil benchmark, oil production volume of 1.6 million barrel per day, inflation rate of 11.9 per cent, projected gross domestic growth rate of three per cent and revenue target of N7.5tn.
The minister said that was the Debt Management Office have to advise the government on issues of borrowing and debt servicing.
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The people Bank of China (PBoC) injected CNY 50 billion into the banking system via reverse repos at an interest rate of 2.2 percent on July 13th. It is the first injection in July, aiming to ensure banking liquidity is at a reasonable and sufficient level. Investors expect the central bank to keep its policy easing stance and continue to support credit to economy. In the first half of the year, Chinese banks loaned a record high of CNY 12.09 trillion. According to CNBC, Guo Kai, deputy director of the monetary policy department of the People’s Bank of China, told reporters on Friday that the central bank isn't planning much more stimulus.
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Oil prices dropped on Monday, amid concerns that a record rise in COVID-19 infections could stall global recovery in fuel demand. The WHO Sunday reported a record daily rise in virus cases worldwide. In the US, Florida reported over 15 thousand new virus infections Sunday, the highest single-day total to date for any US state since the health crisis began in the country. At the same time, investors are looking at an OPEC technical meeting this week, which is expected to recommend an easing in supply cuts. At around 06:00 AM GMT, WTI crude fell 0.8% to $40.23 a barrel, while Brent crude was down 0.7% to $42.94 a barrel.
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The ASX 200 added 45 points or 0.76% to 5964.2 on Monday. Market sentiment was optimistic after Gilead Sciences said its coronavirus treatment candidate, Remdesivir, showed an improvement in clinical recovery and a 62% reduction in the risk of mortality. However, optimism was limited as Victoria continues to struggle with community transmission of the novel coronavirus, while fresh clusters emerge in neighboring New South Wales. The news follows the World Health Organisation’s report of a record increase in global coronavirus cases - the total rising by 230,370 in 24 hours, with the biggest increases seen in United States, Brazil, India and South Africa.
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Hungary’s government on Sunday said it was barring travel from Africa, most of Asia apart from China and Japan, and restricting entry from several European countries after worldwide spikes in coronavirus cases.
Prime Minister Viktor Orban’s Chief of Staff Gergely Gulyas said that Hungarian health officials have placed 154 countries into three risk categories based on numbers of coronavirus infections.
He told reporters in Budapest that they need to protect their security so that the virus is not introduced from abroad as the level of active infection cases at home is falling, and must be kept like that.
Entry into Hungary would be barred for citizens from countries assessed as red from Tuesday midnight, including all African and Asian countries apart from China and Japan.
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Libya's National Oil Company (NOC) has accused the United Arab Emirates (UAE) of instructing renegade forces to reimpose a blockade of oil exports.
The country recently resumed oil exports after a halt of nearly six months, caused by conflict and political upheaval.
The oil company however said the blockade was reinstated over the weekend after Libya National Army (LNA) forces loyal to Gen Khalifa Haftar announced the blocking of export of oil from the country.
Reuters quoted a statement by the company which said NOC has been informed that the instructions to shut down production were given to (the LNA) by the United Arab Emirates.
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Sudan justice minister said the country will permit non-Muslims to consume alcohol and strengthen women’s rights, including banning female genital mutilation (FGM), in a reversal of almost four decades of hardline Islamist policies.
According to the United Nations, About 3% of Sudan’s population is non-Muslim.
Justice Minister Nasredeen Abdulbari told state television that Non-Muslims will no longer be criminalised for drinking alcohol in private however for Muslims the ban will remain.
He said Sudan will also decriminalise apostasy and ban FGM, a practice which typically involves the partial or total removal of the external genitalia of girls and women.
Women will also no longer need a permit from male members of their families to travel with their children.
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South African President Cyril Ramaphosa on Sunday re-imposed a night curfew and suspended alcohol sales as coronavirus infections spiked and the health system risked being overwhelmed.
Ramaphosa in a televised address to the nation said the countyr is heading towards the peak of infections and it is vital that clinics and hospitals are not burden with alcohol-related injuries that could have been avoided.
Ramaphosa said in order to conserve hospital capacity, the sale, dispensing and distribution of alcohol will be suspended with immediate effect.
He also ordered a curfew from 9pm (1900GMT) until 4am (0200GMT) starting Monday.
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The spokesman of the ruling African National Congress (ANC) on Monday said Zindzi Mandela, daughter of former South African president and liberation hero Nelson Mandela, has died.
State broadcaster SABC said the 59-year-old, who was serving as South Africa’s ambassador to Denmark, died in a hospital in Johannesburg however it did not state the cause of death.
ANC spokesman Pule Mabe said “She still had a role to play in the transformation of the society and a bigger role to play even in the African National Congress. Mabe said further details would be provided in due course.
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The Federal Government of Nigeria is set to present its 2nd Voluntary National Review on the implementation of the Sustainable Development Goals (SDGs) to the United Nations High Level Political Forum (HLPF) on Monday, 13th July.
President Muhammadu Buhari, represented by his Senior Special Assistant on SDGs, Princess Adejoke Orelope-Adefulire, will be presenting the Report at the 2nd Panel session of the Forum, which is holding online for the first time this year due to the COVID-19 pandemic.
This focus is based on Nigeria’s current development priorities and the development objectives of President Muhammadu Buhari’s administration.
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Doctors in Lagos State under the aegis of the Medical Guild are set to begin a three-day warning strike from Monday.
The Chairman of the guild, Dr Oluwajimi Sodipo, announced this on Sunday while addressing a press conference in Lagos State.
According to him, the medical practitioners took the decision to embark on industrial action over issues they say affect their safety and welfare.
Sodipo explained that the decision formed part of the resolutions reached during the meeting of the leadership of the association convened to review the challenges of medical doctors in the state.
Sodipo noted that the industrial action would commence from 8am on Monday to 8am on Thursday.
He, however, said members of the guild working in the state’s coronavirus (COVID-19) isolation centres have been exempted.
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The Federal Government has officially handed over the National Arts Theatre to the Central Bank of Nigeria’s Bankers’ Committee, with a robust plan to rehabilitate the national asset.
The Minister of Information and Culture, Lai Mohammed in his remarks at the handing over ceremony held on Sunday in Iganmu, Lagos, is hopeful that the restoration of the edifice and the adjoining land will create more jobs as against speculations that it will lead to job loss.
The CBN Governor, Godwin Emefiele, also gave an assurance that the National Arts Theatre would go through a transformation into a world-class facility.
He explained that the challenges posed by the coronavirus (COVID-19) pandemic have further necessitated the need for the Federal government to diversify its income generation avenues.
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President Muhammadu Buhari has approved the reconstitution of Federal Government’s representatives on the boards of the Nigeria (Liquefied Natural Gas) and the Bonny Gas Transport Limited (BGT).
The Minister of State for Petroleum Resources, Timipre Sylva, announced this in a statement on Monday.
He explained that the reconstitution of the boards became imperative since the present boards members were inaugurated in 2005.
According to the minister, there is a need for the injection of fresh ideas into the leadership of the companies.
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The Nigeria Centre for Disease Control has confirmed 595 new cases of coronavirus in the country. This brings the total number of COVID-19 infections recorded in the country so far to 33,153.
The Nigeria Centre for Disease Control (NCDC) disclosed this on Monday night.
According to the agency, the new infections were recorded in 19 states and the Federal Capital Territory, Abuja.
The Nigeria Centre for Disease Control (NCDC) in a tweet on its official handle, showed that Lagos has 156 cases which accounted for the highest number of infections.
A total of 13,671 persons have recovered from the virus while the death toll now stands at 744.
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Industry officials say South African banks are looking at options ranging from debt consolidation to new ways of leveraging equity to avoid defaults when coronavirus-related debt relief measures end.
According to Reuters, banks gave customers in good standing relief on loans during the pandemic, including payment holidays of up to three months. But some consumers are still in trouble.
Some banks have applied a less-stringent approach to provisioning for loans granted relief after regulators allowed more flexibility in strict new accounting rules.
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South Africa’s rand weakened early on Friday as global sentiment over chances of a quick coronavirus recovery soured, with infections continuing to surge amid downbeat economic data.
At 0630 GMT the rand was 0.7% weaker, giving back almost all of the previous session’s gains that had lifted it to a one-month high.
The currency had shrugged off dismal manufacturing data showing output fell 49.4% year on year in April, its worst in 12 years.
Bonds also trade weaker, with yields inching higher at the shorter end of the curve. The yield on the benchmark 2030 government issue added 2 basis points to 9.67%.
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A University Professor heading the trials says Africa could have a COVID-19 vaccine in the first quarter of 2021 if human trials underway in South Africa succeed.
The experimental vaccine is one of 19 being tested on humans globally in a race to find vaccines to stop a pandemic that has killed more than half a million people so far.
It is also being tested in Brazil by Oxford University scientists who are working with British drugmaker AstraZeneca on development and production.
Trials will depend on 2,000 volunteers aged 18-65 years who will be monitored for 12 months after vaccination to asses its efficacy.
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TikTok has posted on its website that it has halted operations in Hong Kong.
The company flagged the move earlier this week after China imposed a new security law on the city.
The law has restricted freedoms in the semi-autonomous territory, raising concerns of official oversight of social media.
Other social media companies such as Facebook and Twitter are also reviewing operations in Hong Kong.
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Moody's rating agency has warned that Britain will suffer the sharpest peak-to-trough economic slump of any major economy this year. In a report on Friday, Moody’s said the UK government’s latest stimulus package, announced this week, would aid a gradual economic recovery but add further pressure to the UK’s fiscal position.
The rating agency added that the UK’s public debt ratio will likely rise by 24 percentage points of GDP or more relative to 2019 levels.
Moody’s rates Britain Aa2 with a negative outlook.
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Shares in China fell 1.8% today from a five-year high, as state media discouraged retail investors from chasing the market higher.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.3%. Australian stocks declined by 0.6% as an extension of loan-payment deferrals hit the banking sector. Japanese stocks were down by 1.1%.
The e-mini futures for the S&P 500 erased early gains to trade down 0.6%.
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Sudan’s prime minister, Abdalla Hamdok, replaced the finance, foreign, energy and health ministers and three other senior cabinet post-holders on Thursday as part of a sweeping reshuffle.
In a statement, the government said the transitional Prime Minister had dismissed the health minister and accepted the resignation of Badawi and the others. It named interim replacements to lead all seven ministries.
The reshuffle comes nine days after large street protests demanding faster and more comprehensive reforms from transitional authorities.
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Air Namibia says it will be allowed to temporarily operate commercial flights after a court late on Wednesday suspended the cancellation of its air licence.
The airline, which operates 10 aircraft and has close to 800 staff, requires around 8 billion Namibian dollars ($469 million) to stay afloat, but only received a tenth of that in last month’s budget. In a statement on Thursday, the airline said "The suspension of Air Namibia’s service licence has been upended by the High Court. Air Namibia shall continue to fly all domestic flights as per published schedule”.
A hearing on the matter is scheduled for August 3.
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Zambia's ministry of mines says the nation’s copper production increased to 342,734 tonnes in the first five months of this year, from 330,024 tonnes in the same period of 2019.
Copper production was projected to continue rising in the third and fourth quarters of 2020 in line with rising prices driven by factors including growing production of electric vehicles that rely on copper.
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A U.N report on wildlife crime says illegal global trade in ivory has shrunk while the trafficking of pangolins has soared. The report, released on Friday, was based on four years' data.
The United Nations Office on Drugs and Crime, in its World Wildlife Crime Report, said national bans on selling ivory, particularly China’s in 2017, appear to have helped to curb ivory trafficking after it peaked around 2011-2013. The UNODC however said the trafficking of pangolins, during the same period, has surged.
The UNODC estimates the annual income generated by ivory trafficking between 2016 and 2018 at $400 million. It said seizures of pangolin scales, mainly sourced in Africa, increased tenfold between 2014 and 2018. In that time, 185 tons of scales were seized, for which roughly 370,000 animals would have been killed.
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Botswana has started rationing fuel after an announcement on Thursday by President Mokgweetsi. The president said the move was part of efforts to ease a crippling shortage that has seen some consumers rush to stock up.
In a televised address, President Mokgweetsi said sales will be limited to the value of 250 pula worth of fuel, though the limit would not apply to front-line workers and public transport operators. He said the country has started importing fuel through Nambibia and Mozambique to complement supplies from South Africa.
Long queues have formed in recent weeks at fuel stations in Botswana’s capital, Gaborone, as some ran dry. The shortages have disrupted businesses and threaten to exacerbate the woes of an economy already expected to shrink 13% this year.
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National medical groups in Ghana have warned that the coronavirus epidemic risks overwhelming the country’s health sector if the government does not take urgent action such as guaranteeing health workers have sufficient protective gear. The warning was issued by the national doctors, nurses and pharmacists associations and the health service workers union after an emergency meeting. In a joint statement, the four associations said as of the end of June, 779 health workers had contracted COVID-19 and many more were unable to work as they waited for test results in isolation, jeopardising care for the growing number of patients requiring hospital care.
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The International Energy Agency has increased its 2020 oil demand forecast on Friday. The agency however warned that the spread of COVID-19 posed a risk to the outlook.
In its monthly report, the Paris-based IEA raised its forecast to 92.1 million barrels per day, this is up 400,000 barrels per day from its outlook last month. The agency cited a smaller-than-expected second-quarter decline for reviewing its forecast.
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The Manufacturers Association of Nigeria has appealed to the Central Bank of Nigeria to exempt outstanding credit commitments to foreign suppliers of raw materials from the unified exchange rate.
MAN President, Mansur Ahmed, on Thursday, urged the CBN to consider unpaid credit from the second quarter of 2019 till date, which had been agreed with suppliers at 345 naira per dollar.
According to him, this will allow banks redeem their obligations to foreign suppliers on behalf of manufacturers at between 330 naira and 360 naira per dollar.
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Nigeria's Former Finance Minister, Ngozi Okonjo-Iweala, has expressed optimism about becoming the Director-General of the World Trade Organization.
Okonjo-Iweala, in a video on her Twitter handle, described the WTO as an organization that has become more important than ever.
According to her, with the outbreak of the COVID-19 pandemic, the world needs to come together using trade to build a better society.
She will be competing for the post alongside five other candidates which include South Korean Trade Minister Yoo Myung-hee; Kenya’s former foreign minister Amina Mohamed; Mexico’s former WTO deputy director-general Jesus Seade Kuri; Egyptian former diplomat Hamid Mamdouh; and former Moldovan foreign minister Tudor Ulianovsch.
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The Minister of State for Petroleum Resources, Timipre Sylva, says the Federal Government had reached a conclusion that it could no longer bear the burden of petrol subsidy.
In an Instagram post, Sylva said the Federal Government has concluded that it was unrealistic to continue with the burden of subsidising PMS to the tune of trillions of naira every year, more so because the subsidy is benefiting - in large part - the rich, rather than the poor and ordinary Nigerians.
This means market forces will henceforth determine the prices at the pump and the federal government will continue to play its traditional role of regulation to ensure the commodity is not priced arbitrarily by private sector suppliers.
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The latest national accounts have shown that Nigeria's agriculture sector grew by 2.2% year-on-year in Q1 2020. This is compared with 2.5% recorded in the previous quarter. In a report by Proshare, crop production accounted for 88% of agriculture GDP and grew by 2.4 year-on-year. The company notes that the forestry grew 1.7% year-on-year while fisheries was up 1.5% year-on-year.
Over the past eight quarters, agriculture has grown by an average of 2.1% year-on-year. The report adds that the ongoing pandemic has resulted in supply chain disruptions, particularly across the food sector which has a direct link with agriculture.
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Nigeria’s finance minister, Zainab Ahmed, says the country's excess crude account held $72.41 million as of July 7.
Ahmed gave the figure during a meeting of the country’s National Economic Council. The oil savings account, which holds dollar reserves from sales of crude above the assumed benchmark price, contained $324.54 million as of November 20 last year.
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President Buhari has approved the suspension of the acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu. The Attorney-General of the Federation, Abubakar Malami, disclosed this on Friday, saying Magu will be temporarily replaced by Umar Gwandu.
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Nigeria’s President, Muhammadu Buhari, has signed into law the 10.8 trillion naira revised 2020 budget passed by lawmakers last month. The revised budget was passed in June by the national assembly as part of an effort by the federal government to tackle the new coronavirus pandemic and low oil prices.
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Aston Martin 's first sport utility vehicle rolled off the production line on Thursday, key to hopes of a turnaround at the luxury carmaker which has seen changes in management and ownership over the last few months amid a torrid performance.
Since then it has announced job cuts, is replacing its boss and has picked a new finance chief among a series of changes as it also responds to the coronavirus pandemic.
Aston's Chief Creative Officer Marek Reichman said the DBX has become the car that will drive Aston Martin into a bold new era.
The DBX vehicle is the company’s first foray into the lucrative sport utility vehicle market, a late entrant compared to many rivals such as Volkswagen-owned Bentley and BMW’s Rolls-Royce.
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Two French industrial giants say they’ve found the right project to rapidly scale up the nascent industry as the European Union launches a new push to make hydrogen one of the clean fuels of the future
Engie SA and Air Liquide SA want to build solar farms big enough to power 450,000 homes in France’s sun-drenched Provence region, with enough electricity left over to produce hydrogen by electrolyzing water. Some of the clean-burning gas would be sold to refineries and chemicals makers in Fos-sur-Mer, curbing their emissions of carbon dioxide.
Gwenaelle Avice-Huet, Engie’s head of renewables, said for the project to work, they need support from the state and incentives for companies to switch to green hydrogen. They also need to scale up with projects of significant sizes to lower costs.
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Australia has suspended its extradition treaty with Hong Kong in response to fears over a new national security law imposed by China.
Prime Minister Scott Morrison said the new law undermined Hong Kong's own basic law and the territory's current level of autonomy from Beijing.
He said Australia planned to extend visas for Hong Kong residents and encourage businesses there to relocate.
In a statement by its embassy in Australia, it said China has criticised the move as gross interference in its domestic affairs.
China said Australian shoud immediately stop meddling otherwise it will lead to nothing but lifting a rock only to hit its own feet.
Critics say the law makes it easier to punish protesters and critics of the Chinese government.
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Kenya and the United States formally launched negotiations on Wednesday for a bilateral trade pact that the two economies hope could serve as a model for additional agreements across the African continent.
In a joint statement, trade ministers for the two countries, Betty Maina and Robert Lighthizer, said they were holding an initial round of talks virtually over the next two weeks due to the coronavirus.
Maina and Lighthizer said they believe this agreement with Kenya will complement Africa’s regional integration efforts, including in the East African Community and the landmark African Continental Free Trade Area.
Two-way goods trade between the United States and Kenya totaled $1.1 billion in 2019, up 4.9% from 2018.
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South African Airways (SAA) will provide a year’s training for up to 1,000 employees, revisions to its restructuring plan show, in a concession to trade unions angered by thousands of looming job cuts.
Creditors are due to vote on the plan on July 14, which envisages scaling back SAA’s operations before ramping them up gradually as disruption linked to the coronavirus pandemic eases.
In proposed changes published on Wednesday, SAA’s administrators kept the number of staff needed in the restructured SAA at 1,000, from around 4,600 currently.
2,600 will lose their jobs and up to 1,000 will be placed on a training layoff scheme where SAA will contribute up to 4,650 rand ($270) a month in pension, unemployment and healthcare benefits for each employee.
The public enterprises ministry said those on the training scheme would remain SAA employees but not receive salaries.
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The World Bank said Ugandan economic growth is set to plunge to as low as 0.4% in 2020 from 5.6% last year as the coronavirus crisis batters the east African economy ahead of presidential elections set for 2021.
A report released on Wednesday said the pandemic is expected to hit tourism, exports, and remittances. It is also likely to damage investments in the country where long-awaited oil production could commence by 2022.
The report added that the fiscal deficit would rise to between 7% to 8.9% of GDP next year from pre COVID-19 levels of 5.8%, fuelled by a steep drop in tax revenues.
The report said, COVID-19 was resulting in lower exports, tourism, remittances, as well as a sizable deceleration in Foreign Direct Investment (FDI) inflows and government project financing.
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The governor of the Bank of South Sudan has warned that the coronavirus pandemic means the country needs to find a "plan B" for making money.
The global oil prices plummeted earlier this year in the wake of the pandemic spreading across the world.
The Governor of the Bank of South Sudan, Gamal Abdalla Wani, said the country’s economy had been severely hit by coronavirus pandemic because the government did not have "plan B" and "plan C" apart from oil revenue.
He said the coronavirus pandemic had forced South Sudan to try and work out where else to make money apart from oil.
He suggested that the central bank could buy and refine gold.
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According to a letter for the governor of Uganda’s central Bank (BoU), the bank has threatened to stop the interest that commercial banks can charge borrowers, after the industry failed to reduce loan rates in response to cuts in benchmark rates.
The BoU cut its Central Bank Rate by 200 basis points to an all-time low of 7% between April and June, to try to help jumpstart an economy battered by the impact of the coronavirus.
Its governor Emmanuel Tumusiime-Mutebile in the letter dated July 7, sent to all commercial banks and seen by Reuters said that he was disheartened to see they had not acknowledged that reduction with cuts of their own.
The central bank was therefore considering invoking a law that allows it to determine maximum and minimum rates that financial institutions may impose on credit extended in any form.
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State statistics agency CAPMAS on Thursday said Egypt’s annual urban consumer price inflation increased to 5.6% in June from 4.7% in May.
The agency said Month-on-month headline inflation stood at 0.1% in June, from 0% in May.
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South Africa’s rand backtracked early on Thursday after gaining ground in the previous session as investors opted to take profits ahead of local manufacturing data expected to highlight the weakness of the real economy.
At 0700 GMT the rand was 0.12% weaker at 16.9400 per dollar.
The currency advanced more than 1% against the U.S. currency on Wednesday as concerns about rising coronavirus infections globally and in the United States prompted a selloff in the dollar as investors looked for yield in higher-risk emerging market assets.
Demand however subsided overnight with key data releases domestically, in Europe, and a weekly jobs report in the United States making investors more cautious.
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A government statement on Wednesday said Malawi’s new President Lazarus Chakwera has appointed Wilson Banda, a former central bank official, as its new governor.
Chakwera, sworn in in June, also appointed a number of other individuals to his 31-member cabinet though key positions like the finance minister had already been announced.
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According to South African lender FirstRand’s local unit, FNB Mozambique,
French oil major Total has secured $15.8 billion in funding for its massive liquefied natural gas (LNG) project in northern Mozambique.
In a press release published on Wednesday, FNB Mozambique said the financing contracts for Total’s blockbuster development had been signed on Friday. While this was widely reported in local media at the time, Total has not confirmed the signing.
It said FNB intends to enter other large natural gas projects in Mozambique, just as it entered into Total’s financing, in a consortium of 20 banking institutions that granted $15.8 billion, for which the last contracts were signed last Friday.
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The Federal Government has signed a Memorandum of Understanding with Sealink Promotional Company Limited on the use of Ajaokuta jetty landing port.
It said the MoU would enhance government’s bid to develop the economy and diversify the economy.
The Federal Ministry of Mines and Steel Development said it was executing the project in conjunction with the Nigeria Export Import Bank.
It disclosed this in a statement issued in Abuja on Wednesday by the ministry’s Director of Press and Public Relations, Edwin Opara, which was entitled, “MMSD Signs MoU with Sealink on Ajaokuta Jetty as Landing Port.”
The ministry said the project was geared towards utilising the commercial value of the jetty and effective usage of the waterway.
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Reuters reported on Wednesday that the naira resumed trading on the official market at 381 to the dollar after no quotes for two straight sessions, as the central bank unified the country’s multiple exchange rates.
It noted that the central bank had been under pressure from both the World Bank and the International Monetary Fund for currency reforms in order to qualify for budget-support loans, and from the Nigerian government, to get more naira for its crude oil receipts.
The World Bank was expected to approve a $3bn budget- support loan for Nigeria in the coming months.
Nigeria offered multiple foreign-exchange rates, which it imposed to manage dollar demand after oil prices crashed. But dollar shortages have followed, stifling growth.
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the latest figures from the Central Bank of Nigeria on Wednesday showed that Currency in circulation dropped by N52.5bn from N2.35tn at the end of May to N2.29tn in June.
Recent figures showed that there was a steady rise in cash in circulation during the lockdown introduced in some states to contain the COVID-19 pandemic in the country.
Statistics obtained from the CBN showed that currency in circulation, which stood at N2.29tn at the end of March, rose to N2.3tn in April.
The apex bank said Currency in circulation at end-November 2019 rose by 9.9 per cent to N2.2tn, in contrast to the decline of 0.4 per cent at the end of the third quarter of 2019.
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The Chartered Institute of Taxation of Nigeria has said it will continue to create opportunities for its members and enlighten the government on the need to employ professionals.
The President, CITN, Mrs. Olajumoke Simplice, said this during the institute’s 28th annual general meeting, which was also held online.
She said in response to the challenges faced by members, particularly at the states, council has sustained its advocacy for opportunities for members to be engaged.
She said that the creation of tax units manned by a qualified tax professional at Ministries, Departments and Agencies, is being canvassed.
She added that the CITN represented to relevant agencies of government at the federal and state levels for proper placement of the institute’s certificate in the scheme of service.
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According to the China Passenger Car Association (CPCA), U.S. electric vehicle maker Tesla Inc sold 14,954 Shanghai-made Model 3 vehicles in China in June, up 35% month-on-month.
CPCA data showed that Tesla sold 11,095 vehicles in May, up from around 3,635 units in April. CPCA uses a different counting method than Tesla’s deliveries.
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Shares in Nokia fell up to 8% in Wednesday trade on concerns that the Finnish company was losing the business of its key client Verizon in the United States.
Nokia, battling with China’s Huawei and Sweden’s Ericsson, is trying to strengthen its 5G slate and looking especially to deployment by U.S. telecom companies for growth.
JP Morgan downgraded Nokia to neutral” from overweight, citing a potential loss of business with Verizon.
JPM in a note said they believe that there is a real risk Verizon will depend less on Nokia as their primary RAN (radio access network) supplier going forward, adding there were signs Verizon was using Samsung.
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According to OPEC Sources, Angola has agreed with OPEC to comply fully with a global pact on supply curbs and will compensate for previous overproduction by cutting more from July to September.
The Organization of the Petroleum Exporting Countries and allies led by Russia, a group known as OPEC+, agreed to cut oil output from May by a record 9.7 million barrels per day (bpd) after the coronavirus crisis destroyed a third of global demand.
The record cuts are now due to run to the end of July, before tapering to 7.7 million bpd until December.
The sources told Reuters that Angola had now committed to improve its compliance with its quota and to make up for its May and June overproduction by cutting more in July to September.
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Ratings agency Fitch on Tuesday said South Africa’s plans to rein in government spending will be hard to implement due to low economic growth, adding the country had a poor track record of delivering debt and spending cuts.
Finance Minister Tito Mboweni said in an emergency budget in June that the government deficit would widen to 14.6% of gross domestic product in the 2020/21 fiscal year, while debt would jump to 81.8% of GDP.
The Treasury however stuck with its promise of around 230 billion rand ($13.5 billion) of spending cuts in the short term, a target set in February before the COVID-19 pandemic.
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South Sudan’s central bank said it cut its benchmark interest rate to 10% from 13%, as part of efforts to mitigate the effects of the coronavirus outbreak on the economy.
This is the second time the central bank has slashed its rate since April, when it cut by 200 basis points to 13%.
Governor Gamal Abdalla Wani said the downward revision was geared towards reducing the cost of financing to the private sector by commercial banks.
Wani told reporters on Tuesday while announcing the cut that affordable loans will benefit business and South Sudanese citizens alike at this time of crisis.
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Finance Minister Adama Coulibaly said Ivory Coast’s gross domestic product growth is expected to slow to 0.8% in 2020 compared to a previous forecast of 7.2% if the coronavirus pandemic continues to the end the year.
Coulibaly told a closed-door business meeting on Monday that the initial GDP growth expected at 7.2% in 2020 could tumble to 0.8% if the crisis continues until the end of the year.
He said the budget deficit in the world’s top cocoa grower was expected to widen due to the crisis, which has made it difficult for the government to respect its target of 3% of GDP.
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South Africa’s rand edged firmer in tentative early trade on Wednesday, as investors weighed a surge in coronavirus infections in key global centres and more signs of a creaking local economy.
At 0700 GMT the rand was 0.23% firmer at 17.1400, retracing a fraction of the previous session’s sharp losses that dragged the unit to a 1-week low as investors attention turned to climbing COVID-19 infections around the world.
A survey showed consumer confidence plunged to a 35-year low in the second quarter, while ratings firm Fitch warned about the country’s ability to execute plans to slash spending, also hurting the rand.
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The African Development Bank (AfDB) on Tuesday said Africa is expected to partially rebound next year from a pandemic-induced economic slump, but it could still lose nearly a quarter of a trillion dollars in economic output in 2020 and 2021.
African economies, however, have not been immune to the pandemic’s global shockwaves, with oil exporters such as Algeria, Angola, Libya and Nigeria on track to witness the continent’s sharpest declines in economic output.
The AfDB forecasts a 3.4% contraction in gross domestic product in 2020 - compared with a pre-pandemic projection by the Abidjan-based bank of growth of 3.9%.
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Ghana’s Ambassador to China, Edward Boateng, has assured that due process is being followed by the Ghana Integrated Aluminium Development Corporation, GIADEC, to ensure that Ghana benefits adequately from the expected bauxite mining.
Government’s plan to mine bauxite in the Atewa Forest Reserve as part of the controversial US$2 billion Sinohydro deal with China, has received a lot of backlash with environmental groups kicking against the deal due to the expected impact of bauxite mining especially in the Atewa Forest.
Seven Civil Society Organisations and some private citizens have gone ahead to sue government over the plans to mine in the Atewa Forest.
Government has explained that bauxite mining would be done responsibly, and will not cause havoc to the Atewa Forest or to the environment.
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The Federal Inland Revenue Service (FIRS) has extended the closing date of tax debt payments in the country.
In a statement issued on Wednesday by FIRS Director of Communications, Abdullahi Ahmad, the agency moved its waiver of penalty and interest window on tax debts owned by individuals and businesses from June 30 to August 31st, 2020.
He noted that the agency’s boss, Muhammad Nami, approved the extension as a follow up to a number of palliative measures devised by the FIRS to cushion the effects of the COVID-19 pandemic on the Nigerian economy.”
According to him, the move is to support tax-paying individuals and business entities in the country.
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The House of Representatives has resolved to investigate the alleged illegal withdrawal of funds from the Nigerian Liquefied Natural Gas Limited amounting to $1.05bn by the Nigerian National Petroleum Corporation.
The resolution followed the adoption of a motion moved by the Minority Leader, Ndudi Elumelu, at the plenary on Tuesday, entitled ‘Need to Investigate the Illegal Withdrawals from the NLNG Dividends Account by the Management of NNPC.’
The House said that there was no transparency in this extra-budgetary spending, as only the Group Managing Director and the corporation’s Chief Financial Officer had the knowledge of how the $1.05bn was spent.
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The Nigerian National Petroleum Corporation on Tuesday said it posted a total revenue of N192.4bn from the sale of petrol, kerosene and diesel in the month of March.
In its latest monthly financial and operations report for March 2020 released on Tuesday, the oil firm said its highest earning during the month under review was from petrol.
It made N191.98bn from the sale of petrol. The corporation earned N104.8m and N285.1m from the sale of diesel and kerosene respectively.
The report, however, indicated a trading deficit of ₦9.53bn for the NNPC group in March 2020, compared to the ₦3.95bn surplus posted in February 2020.
The firm explained that the decline of over 300 per cent in the month was due primarily to the huge decrease of 181 per cent in the performance of Nigeria Petroleum Development Company, the flagship subsidiary of the corporation.
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The African Development Bank on Tuesday said the outbreak of coronavirus in Africa could cost Nigeria, Togo and other countries on the continent $236.7bn in their cumulative Gross Domestic Product.
It said this in its report on African Economic Outlook (Supplement).
The bank projected that if the COVID-19 pandemic and its harsh impacts persist on the continent beyond the first half of this year, there would be deeper contraction of the continent’s GDP.
It estimated the Real GDP of Africa to contract by 1.7 per cent this year.
This represents a 5.6 percentage points drop from the January 2020 pre-COVID–19 projection if the virus has a substantial impact but of short duration.
The AfDB, however, explained that a prolonged situation into the second half of this year caused by the pandemic would result in deeper GDP contraction.
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President Muhammadu Buhari on Tuesday praised China’s contributions towards the reversal of infrastructure deficit in Nigeria.
He said such contributions were visible in the areas of rail, roads, airports and power.
According to a statement by his Special Adviser on Media and Publicity, Femi Adesina, the President spoke while receiving the outgoing Ambassador of the People’s Republic of China to Nigeria, Dr Zhou Pingjian, at a virtual farewell audience.
The statement was titled President Buhari lauds outgoing ambassador, says China playing great role in reversing Nigeria’s infrastructural deficit.”
Buhari added that China had played its role effectively in all the Memoranda of Understanding signed with Nigeria, and appreciate it.
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The Nigerian Economic Summit Group has asked the Federal Government, state and local governments to publish data on revenue collection annually in order to develop a sustainable fiscal system for the country.
This was one of the recommendations made by the NESG Fiscal Policy Roundtable where stakeholders deliberated on ways of improving Nigeria’s financial system.
NESG in a 10-point agenda published by the group on Tuesday said given the economic problems that followed the COVID-19 pandemic, policy, legislative and administrative changes were required to boost the growth and development of Nigeria’s economy.
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China has unveiled new powers to censor Hong Kong’s internet and access user data using its feared national security law but US tech giants have put up some resistance citing rights concerns.
The online censorship plans were contained in a 116-page government document released on Monday night that also revealed expanded powers for police, allowing warrantless raids and surveillance for some national security investigations.
Late Monday, US Secretary of State Mike Pompeo spoke out against Orwellian moves to censor activists, schools and libraries since the law was enacted.
Pompeo said Hong Kong flourished because it allowed free thinking and free speech, under an independent rule of law.
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Samsung Electronics forecast a 23-percent rise in second-quarter operating profit Tuesday, with strong demand for memory chips and displays overcoming the impact of the coronavirus pandemic on smartphone sales.
The world’s biggest smartphone and memory chip maker in an earnings estimate said that it expected operating profit to be 8.1 trillion won ($6.8 billion) for April-June, up from 6.6 trillion won in the same period last year.
The prediction was far ahead of analyst forecasts of a single-digit decline.
Market observer Counterpoint, Park Jin-suk said the earnings surprise seems to have stemmed from Samsung’s memory chip sector observer Counterpoint, pointing to increased demand for memory chips for PCs and a continuing rise in DRAM chip prices.
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TikTok has said it will quit Hong Kong after China imposed a new security law on the city.
A spokesman told the BBC that due to the recent events, they have decided to stop operations of the TikTok app in Hong Kong.
According to the Reuters news agency, the company's exit from the city will come "within days.
Facebook and Twitter said this week they were pausing co-operation with Hong Kong police over user information.
The short-form video app was launched by China-based ByteDance for users outside mainland China as part of a strategy to grow its global audience.
The tech company operates a similar short video sharing app in China called Douyin.
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South Africa’s rand weakened in early trade on Tuesday as worries over surges in coronavirus infections reactivated investor concerns about the economic impact Of the pandemic.
At 0700 GMT, the rand was 0.43% weaker at 17.0875 per dollar from an overnight close of 17.00 in New York as sentiment again swung from optimism to nervousness with investors continuing to assess the COVID-19 impact.
Analysts at Nedbank in a note said despite the recent easing of local lockdown measures, the current levels of activity in markets have yet to suggest any recovery.
He added that the rand is currently trading in the middle of the short-term technical range, and the objective on the downside remains around the 16.7000 level.
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Data on Thursday showed that the South African central bank reduced its government bond purchases to 5 billion rand ($292.64 million) in June, half the monthly average, bringing its bond holdings to 35.9 billion rand.
The Reserve Bank began a series of emergency liquidity measures in late March to ease the stress on banks and capital markets caused by the coronavirus pandemic. Among them were extra repo auctions and 275 basis points worth of lending rate cuts.
The bank’s June statement of assets and liabilities showed its accommodation to commercial banks via repurchase, or repo agreements, had fallen to 60 billion rand in June from 73.5 billion in the previous month.
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The Bulk Oil Storage and Transportation Company Limited (BOST), has closed down its head office at Dzorwulu after 46 employees tested positive for the novel Coronavirus.
The office will be closed from Monday, July 6, 2020 to Monday, July 13, 2020.
A statement issued by the Corporate Communications Department of BOST said the cases were detected after a mass testing of staff was conducted at the head office.
Bost however assures the general public that the arrangement will not negatively impact its operations as all staff of BOST at the head office have been asked to work from home in the interim following the development.
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Ghana’s Ambassador to China, Edward Boateng, has stated that various opportunities are available in China for Ghanaian Exporters to take advantage of in Asia’s largest Market.
China in particular, which is a major destination from where Ghana imports a lot of its goods, has also been hit hard, although a reduction in imports from that country is taking a huge toll on Ghanaian businesses.
Ghana’s Ambassador to China, Edward Boateng, told Citi Business News there are also opportunities in China that Ghanaian importers can tap into by producing enough to meet the demands.
He says cocoa products and cash crops such as cashew and soy beans are in high demand by most Chinese. Trade volumes between Ghana and China reached 7.3 billion dollars in 2018.
Mr. Boateng believes this could be improved further if Ghanaian businesses diversify their exports to the Asian country.
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The Ministry of Aviation has dismissed reports that it has concluded processes to cede the management of Kotoka International Airport to a foreign company.
According to the Ministry, no such plan has been mooted by the government of Ghana.
In a statement to clarify the issue, the sector Minister, Joseph Kofi Adda, urged the public to disregard such claims.
He however explained that Government is engaging stakeholders including the Ghana Airports Company Limited (GACL), to consider a projected Strategic Partnership Arrangement between GACL and TAV-SUMMA Consortium to improve service delivery and expansion of infrastructure at the KIA.
He further noted that the processes for the start of engagement has not begun.
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The Central Bank of Nigeria injected $11.5bn foreign exchange into the economy in the first three months of 2020.
Latest figures from the CBN on the supply of forex showed that $2.96bn, $3.39bn and $4.7bn were injected into the market in January, February and March respectively.
The investors’ and exporters’, small and medium enterprises and invisible segments got a total of $7,23bn; the Bureau De Change segment got $3.6bn, while the interbank and WDAS/RDAS got the rest.
According to the data, a total of $14.72bn was injected into the market in 2018 while $28.55bn was injected in 2019.
The CBN said it had resumed the provision of over $100m per week for school fees and the SMEs to adequately meet eligible demands from customers.
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The Central Bank of Nigeria debited N122bn ($338m) from banks’ excess cash with the apex bank before weakening the currency at a retail auction on Friday in a move to unify its multiple exchange rates.
Reuters reported on Monday that Nigeria’s multiple foreign-exchange rates were imposed to manage dollar demand after oil prices crashed.
The bank had earlier hinted of its plans to unify the multiple exchange rates, to generate more local currency from its dollar inflows and further achieve naira stability.
The central bank, Nigeria’s main forex supplier, asked lenders to bid for dollars at N380 to the dollar on Friday, five per cent above its official rate.
Central Bank Governor, Godwin Emefiele, said he would not unify rates close to the black-market rate.
The currency had come under pressure in recent months after the coronavirus pandemic and a fall in price of oil, Nigeria’s main export, and as foreign investors exited, leaving the country with large financing gap.
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The Federal Government on Monday said it had positioned enforcement teams within and outside airport terminals to enforce all safety protocols against the spread of COVID-19 at airports.
It said the protocols had been approved by the Nigerian Civil Aviation Authority and were in accordance with the guidelines of the Nigeria Centre for Disease Control.
The Managing Director, Federal Airports Authority of Nigeria, Rabiu Yadudu, disclosed this at the Nnamdi Azikiwe International, Abuja.
Yadudu spoke when members of the House of Representatives Committee on aviation visited the NAIA to examine the guidelines ahead of commercial flight resumption on Wednesday.
He said a lot has been done a lot in the past few weeks. The protocols have already been established and approved by the NCAA and are in accordance with the guidelines of the NCDC as set out at the national level.
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The Federal Government has decided to write off 60 per cent of the N7bn owed by radio and television stations in licensing and renewal fees.
The government has also slashed the existing licence fee by 30 per cent for all open terrestrial radio and television services with effect from July 10.
The Minister of Information and Culture, Lai Mohammed, disclosed these at a press conference he addressed with the acting Director-General of the National Broadcasting Commission, Prof. Armstrong Idachaba, in Abuja on Monday.
Mohammed however said for any debtor station to benefit from the 60 per cent debt relief, it must be ready to pay the 40 per cent balance within the next three months.
He said the debt relief offer would open on July 10 and close on October 6, 2020.
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The valuation of Asian shares surged to a 10-1/2-year high in June, tracking a rally in global stocks, as upbeat U.S. and China data renewed hopes of a swift economic recovery, offsetting concerns over rising coronavirus cases.
The MSCI’s broadest index of Asia-Pacific shares gained 4.83% last month, topping the MSCI’s World index’s. 3.03% gains.
The index’s forward price-to-earnings (P/E) ratio rose to 15.62 at the end of June, compared with 14.34 a month earlier. This was the index’s highest forward P/E ratio since December 2009, according to Refinitiv-Eikon data.
Benchmark equity indexes in India, Hong Kong, the Philippines and Taiwan, gained more than 6% each last month.
New Zealand, India and Malaysia shares were the most expensive in the region, with P/E ratios of 30.7, 19.3 and 17.4, respectively.
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Technology firm Fujitsu has said it will halve its office space in Japan as it adapts to the new normal of the coronavirus pandemic.
It said the Work Life Shift programme will offer unprecedented flexibility to its 80,000 workers in the country.
Staff will be able to work flexible hours, and working from home will be standard wherever possible.
The announcement follows a similar move in May by social media platform Twitter.
In a statement sent to the BBC, Fujitsu said it will introduce a new way of working that promises a more empowering, productive, and creative experience for employees that will boost innovation and deliver new value to its customers and society.
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The government has received a report into Huawei that is likely to change its policy over the Chinese firm's role in the UK's telecoms networks.
Digital Secretary Oliver Dowden said GCHQ's National Cyber Security Centre had delivered its findings, and officials were now examining them before advising the prime minister.
NCSC is believed to have said it can no longer assure the security of Huawei's products because of new US sanctions, Huawei said it was open to discussions.
One of the company's spokesmen however took a tougher line over the weekend, following newspaper reports that the government might ban the purchase of new Huawei 5G equipment by the end of the year.
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Lloyds Banking Group chief executive António Horta-Osório will step down next year after spending a decade at the helm.
Mr Horta-Osório said he had "mixed emotions" about the decision, which the bank said would see him leave the role by the end of June 2021.
Lloyds also appointed industry veteran Robin Budenberg as new chairman.
Last year, Lord Blackwell said he would retire as Lloyds chairman during 2020.
Lloyds in a statement said that the 12-month timeframe for the appointment of a replacement chief executive would allow a smooth transition.
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South African petrochemicals giant Sasol Ltd on Sunday said it has opted to give up its licence to explore for gas off the Mozambique coast, the company said on Sunday.
The firm in a statement said Sasol will return Block 16/19 in its entirety to the Government of Mozambique. To this end, a withdrawal notification has already been sent to the relevant Mozambican authorities.
Sasol was awarded the research licence in 2005. It is still exploring for gas onshore in the fields of Pande and Temane, in the northern province of Inhambane.
Sasol, the world’s top producer of motor fuel from coal, is trying to shed assets to pay off its debt pile and avoid a rights issue of up to $2 billion.
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South Africa’s rand gained early on Monday, as the dollar was dragged down by a steady rise of coronavirus infections in the United States.
At 0630 GMT, the rand was up 0.66% at 16.9425 per dollar after closing at 17.0500 on Friday.
Trading in the Asian session saw a return of risk appetite after last week’s narrow ranges, with demand growing for the rand and other emerging-market currencies.
Rising coronavirus infections in the United States have discouraged some investors from taking big positions in the currency market, but most remain focused on the growing likelihood that major economies will continue to recover.
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The state planning agency on Sunday said Morocco’s economy is expected to contract by 13.8% in the second quarter under the impact of the coronavirus lockdown.
It said the economy was expected to shrink by a further 4.6% year-on-year in the third quarter as restrictive measures are loosened.
It said the economy grew 0.1% in the first three months of this year. Both domestic and foreign demand are expected to improve in the third quarter after taking a hit in the previous three months.
The central bank forecasts economic growth at -5.2% in 2020 against +2.5% last year.
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The Chief executive of Kenya Airways in an internal memo seen by Reuters said Kenya Airways will lay off an unspecified number of workers, reduce its network and also get rid of some assets due to the coronavirus crisis.
The coronavirus crisis has hit the global aviation industry hard, with African carriers alone expected to lose $6 billion this year in revenue.
Allan Kilavuka wrote in the memo dated July 3 that their short and medium-term projections indicate that they must inevitably reduce their operations before they begin to scale up again adding that the exercise will be completed by Sept. 30.
The carrier, in which Air France-KLM holds a small stake, was struggling long before the outbreak, posting 2019 losses of almost 13 billion shillings ($122.2 million).
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Economist, Adu Owusu Sakodie, has suggested that the Bank of Ghana extends its interventions introduced three months ago to support businesses in the wake of the coronavirus pandemic.
The central bank reduced its policy rate which triggered a drop in interest rate among commercial banks to cushion businesses.
In March this year, the Monetary Policy Committee of the Bank of Ghana reduced its policy rate by 150 basis points; from 16 to 14.5%.
Among the reasons that triggered this reduction was the fact that the coronavirus pandemic has impacted economic growth, leaving economic managers uncertain about the future.
This move subsequently led to about 2% drop in interest rate for most commercial banks.
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Data released by the International Monetary Fund, IMF, in a revised Regional Economic Outlook (REO) forecast for 2020 indicates that countries within Sub Saharan Africa will suffer a significant shrink due to depressed economic activity, a negative outcome of the novel Coronavirus pandemic.
According to the IMF, earlier anticipated impact could worsen in Sub Saharan Africa as the regional economy is projected to contract by 3.2 percent in 2020, which is 1.6 percentage points deeper than projected in April, 2020.
A statement issued by the IMF explains that the deepening recession also mirrors a weaker external outlook as global growth is also projected at –4.9 percent in 2020, 1.9 percentage points below the April 2020 World Economic Outlook (WEO) forecast.
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The embattled former management of the Nigeria Social Insurance Trust Fund has said all training, contracts and rehabilitation it carried out received the approvals of the Federal Ministry of Labour and Employment and the National Assembly.
Ngige suspended the NSITF Managing Director, Adebayo Somefun and some members of his executive for allegedly lavishing “N3.4bn on non-existent staff training split into about 196 different consultancy contracts in order to evade the Ministerial Tenders Board and Federal Executive Council approvals.
The NSITF management, in a statement in Abuja on Sunday, while responding to the allegations, insisted that the training referred to by the minister was budgeted for in 2017, 2018 and 2019 appropriations for over 5,000 staff nationwide.
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The Federal Government has carried out some changes in the top management of the Nigerian National Petroleum Corporation.
It made new appointments and redeployments at the corporation and confirmed the resignation of NNPC’s Chief Operating Officer, Ventures and New Business Directorate, Roland Ewubare.
The Group General Manager, Group Public Affairs Division, NNPC, Kennie Obateru announcing the changes at the corporation in a statement issued on Sunday, the oil firm said the move would reposition the corporation for greater efficiency.
It said the Group General Manager, Crude Oil Marketing Division, Adokiye Tombomieye, was appointed the new Chief Operating Officer, Upstream among other appointments.
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The Joint House of Representatives committees on finance; banking and currency will begin an investigative hearing into an alleged forex racketeering on Monday.
According to a notice and schedule of the event, the panel has summoned 24 banks and 14 oil companies.
According to the House, the alleged racketeering is responsible for an annual loss of over $30bn in revenue.
Those appearing before the committees are to explain their roles in the alleged over $30bn revenue leakages from foreign currency dominated contracts in engineering, procurement, construction, installation and marine transportations.
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The total domestic debts for the 36 states of federation and the Federal Capital Territory stood at N4.1tn as of the end of March, 2020, the Debt Management Office has disclosed.
According to the DMO, Lagos led with a debt profile of N444.22bn followed by Rivers that had a debt of N266.93bn.
Niger, Ogun, Ondo and Osun had N59.83bn, N143.53bn, N65.29bn and N137.3bn, while Oyo, Plateau, Sokoto and Taraba had N100.59bn, N130.73bn, N47.74bn and N81.26bn respectively.
The DMO disclosed that Yobe’s domestic debt profile was N29.29bn, while Zamfara and the FCT had N70.84bn and N106.8bn respectively.
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General Motors Co’s vehicle sales in China dropped 5.3% between April and June from the corresponding period last year, underperforming the industry average amid a recovery from the coronavirus fallout on the world’s biggest auto market.
The China Association of Automobile Manufacturers (CAAM)China’s said overall figure, which includes passenger and commercial vehicles, rose 4.4% in April and 14.5% in May, adding that it expected auto sales to grow 11% in June.
The company in a statement said GM, China’s second-biggest foreign automaker after Volkswagen, delivered 713,600 vehicles in the country in the second quarter, after reporting a drop of 43% in sales in the first quarter, due to the pandemic.
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The head of Ubisoft has promised a structural shift to eliminate toxic behaviour following allegations of sexual assault and harassment by managers at the French video game publisher.
Ubisoft, whose games portfolio includes Assassin’s Creed, Tom Clancy’s, Far Cry and Watch Dogs, and is one of the world’s top gaming companies, apologised last week and launched an investigation after the claims were made on social media.
Guillemot acknowledged that employees were eager for the probes to wrap up, but said it was important they are conducted with rigour.
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Social media platform Twitter is dropping the terms master, slave and blacklist in favour of more inclusive language.
The terms are frequently used in programming codes which originated decades ago.
US bank JPMorgan has also announced a similar move as more companies address racism following the killing of George Floyd by police in Minneapolis.
Replacing the terms could cost millions and take months, according to experts.
On Thursday, Twitter's engineering division tweeted out a set of words that it wants to move away from using in favour of more inclusive language. The list includes replacing whitelist with allowlist and master/slave with leader/follower.
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U.S. Treasury Secretary, Steven Mnuchin, has welcomed a decision by the African Development Bank to re-examine a probe into the AfDB's president that ignited a dispute between America and Nigeria.
In a statement, Mnuchin said the international financial institutions must adhere to the highest standards of governance and transparency, and the decision to pursue an independent review demonstrates the strength of the African Development Bank. According to him, “Undertaking an independent review is fully consistent with a presumption of innocence.”
Former Irish President, Mary Robinson, will head a panel that includes a top ex-South African prosecutor and Gambia’s chief justice to review an ethics committee report that found no evidence of wrongdoing by AfDB President Akinwunmi Adesina.
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The Portuguese government has taken control of a stake held by Angolan investor Isabel dos Santos in Efacec Power Solutions SGPS SA as it tries to help the manufacturer find a new shareholder.
The 72% stake in Efacec was held through Malta-based firm Winterfell 2, which is indirectly controlled by dos Santos. Portugal's Economy Minister, Pedro Siza Vieira, disclosed this in Lisbon after a cabinet meeting. The government will immediately start a plan to sell the stake and there are already proposals from various companies.
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Low-cost carrier Fastjet Plc says it is suspending commercial flights in South Africa and Zimbabwe due to the coronavirus pandemic, jeopardizing negotiations to raise emergency funds through a disposal.
In a statement on Friday, Fastjet said an investor group, including Solenta Aviation Holdings, and Zimbabwean investors have expressed interest.
Fastjet, the first discount airline spanning sub-Saharan Africa, is in a precarious situation with just enough funds to survive until the end of August. The company's cash reserves at the end of June stood at $1 million. For now, Fastjet will operate about three repatriation flights per month from South Africa to Zimbabwe
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The African Union commissioner for infrastructure and energy, Amani Abou-Zeid, on Thursday, said African countries have lost almost $55 billion in travel and tourism revenues in three months due to the coronavirus pandemic.
Abou-Zeid told a news conference the economic impact of lockdowns and border closures to curb the spread of the virus would be severe, with the continent’s air industry hit particularly hard. She said tourism and travel represented almost 10% of the gross domestic product of Africa.
On his part, Prosper Zo’o Minto’o, regional director for the International Civil Aviation Organization, told the news conference that African airlines would need an estimated $20 billion to resume operations.
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South Africa’s National Treasury on Friday said there was no further action planned to bailout struggling national airline SAA except to settle guaranteed debt as attempts to revive the airline hang on a knife edge.
The South African government wants creditors to back a restructuring plan for South African Airways (SAA) but did not allocate new bailouts for the loss-making state airline in an emergency budget last week.
The National Treasury told lawmakers they would not provide any new money to the airline as they are insolvent and turnaround plans have not been finalised yet
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A survey has shown South African private sector activity shrunk much less quickly in June. Markit’s Purchasing Managers’ Index rose to 42.5 in June from 32.5 in May, the latter being its lowest level since the survey began in 2011.
This comes after a record pace of contraction the month before, as the easing of a nationwide lockdown to contain the coronavirus boosted orders and activity.
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South Africa’s rand opened stronger on Friday and was on course for gains of roughly 2 percent against the dollar this week, after the first current account surplus in 17 years and an upbeat U.S. jobs report.
At 0650 GMT, the rand was around 0.3% firmer than its previous close.
Government bonds were flat, with the yield on the 2030 bond at 9.27%.
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The Institute for Energy Security says the drop in Ghana’s oil revenue in 2019 could be attributed to the movement of crude prices on the world market and the challenges faced by Tullow Oil in the TEN Fields.
Oil revenue dropped by 5 percent to 925 million dollars in 2019 from 977 million dollars in 2018, even though oil production in the period under review went up by 15 percent.
The Executive Director of IES, Nana Amoasi VII, (The seventh), while speaking to Citi Business News, explained that Ghana’s oil revenue forecast in the national budget was also over-projected comparing to global benchmark prices.
Government in the 2020 budget projected to receive US$1.567billion from oil revenues, anchored on a price prediction of US$62.6 per barrel.
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Ghana’s deputy trade and industry minister Carlos Kingsley Ahenkorah has resigned for violating coronavirus self-isolation measures after testing positive for the virus. President Nana Akufo-Addo made the announcement in a statement on Friday.
The statement said the minister visited a registration centre in his constituency before the period of self-isolation was complete.
Ghana has recorded one of the highest number of coronavirus cases in the continent since the outbreak at 18,134, with 117 deaths. Last month, Health Minister Kwaku Agyeman Manu tested positive for the virus.
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The International Air Transport Association said Nigerian airlines lost $2.09bn in April and June.
IATA, in its report, titled, Quarantine measures threaten aviation restart in Africa and the Middle East, noted that aviation was the worst-hit sector in Africa and the Middle East with more than 8.6 million jobs at risk.
According to the report, passenger numbers in Nigeria declined in April and June by 4.7 million and 5.32 million respectively when compared to the corresponding periods in 2019.
It said 125,400 jobs were at risk in April while 139,500 jobs were estimated to be at risk for the month of June.
Muhammad Albakri, IATA’s Regional Vice President for Africa and the Middle East, asked for alternatives to government-imposed quarantine on Africa and Middle East countries as it affected the profitability of the travel and tourism sector.
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The National Bureau of Statistics said the volume of petrol imported into the country in the first three months of the year rose by 9.24 per cent, compared to the same period in 2019.
The NBS data showed that the country imported to 5.32 billion litres in Q1 2020, up from 4.87 billion litres in Q1 2019.
A total of 5.61 billion litres were imported in Q2; 5.09 billion litres in Q3, and 5.26 billion litres in Q4 of 2019.
According to the NBS, 5.36 billion litres of petrol, 1.56 billion litres of diesel, 8.73 million litres of household kerosene, 283.90 million litres of aviation fuel, 23.36 million litres of LPFO and 290.24 million litres of LPG were distributed nationwide during the period under review.
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Latest figures from the Central Bank of Nigeria on Thursday showed that the country’s foreign reserves fell by $373.23m from $36.57bn on June 1 to $36.2bn on June 29.
According to the CBN, the reserves maintained a steady rise at a level of $33.52bn as of April 30, before commencing its downward trend in June.
The reserves had hit a high of $45.17bn on June 11, 2019, but lost $11bn to close at $33.89bn as of April 28, 2020.
Moody’s Investors Service on Wednesday said Nigerian banks’ foreign currency funding gap would rise to $5bn over the current low oil prices, volatile foreign inflows and lower remittances amid coronavirus pandemic.
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The Debt Management Office on Thursday announced that the total public debt portfolio of Nigeria has risen to N28.63tn.
The DMO explained that the country’s total debt rose from the N27.4tn recorded in December 2019 to N28.63tn in March 2020 in its Public Debt Portfolio report released on Thursday night
This showed that within a space of three months, the country’s public debt portfolio grew by N1.23tn, representing 4.48 per cent.
The debt office also stated that Nigeria’s total external debt obligations as of the end of March this year stood at N9.99tn.
The debt office said the country’s domestic debt was N18.64tn, representing 65.11 per cent of the Nigeria’s debt stock.
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The US House of Representatives has approved new Hong Kong-related sanctions, after Beijing imposed a security law that was condemned by countries around the world.
The measure, which was passed unanimously, penalises banks that do business with Chinese officials.
It will have to be approved by the Senate before going to President Trump.
Critics say China's law ends freedoms that were guaranteed for 50 years when British rule ended in 1997.
House Speaker Nancy Pelosi said the law is a brutal, sweeping crackdown against the people of Hong Kong, intended to destroy the freedoms they were promised.
UK Prime Minister Boris Johnson also said the passing of the law was a clear and serious breach of the 1985 Sino-British joint declaration.
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Lego has become the latest big name to join an advertising boycott on social-media platforms, saying urgent action is needed to end hate speech, discrimination and misinformation.
The Danish toy company said It would pause paid advertising on all social-media platforms for at least 30 days, and spend the money on other channels.
More than 400 companies have joined the Stop Hate for Profit campaign stating
It wants hate, bigotry, racism, anti-Semitism and violence dealt with.
Facebook said artificial intelligence rooted out 90% of hate speech and it was teaming up with experts and civil rights groups to develop more tools.
It has also said it will start to label potentially harmful posts.
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Tesla has become the world's most valuable carmaker, overtaking Japan's Toyota, after its stock hit a record high.
Shares in the electric carmaker touched $1,134 on Wednesday morning before falling back, leaving it with a market value of $209.47bn (£165bn).
That is roughly $4bn more than Toyota's current stock market value.
However, Toyota sold around 30 times more cars last year and its revenues were more than 10 times higher.
Shares in Tesla have surged since the start of 2020 as investors have begun to feel more confident about the future of electric vehicles.
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France Budget Minister Gerald Darmanin on Wednesday via Twitter said French tax investigators helped the state recover almost 12 billion euros in 2019, calling it a record year.
Figures published by the financial daily Les Echos and confirmed by the economy ministry showed Revenue obtained following tax audits accounted for almost 11 billion euros ($12 billion), on top of which rectified declarations added 358 million euros and judicial conventions involving Google and asset management firm Carmignac another 530 million euros.
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Foreign exchange regulator on Wednesday said Morocco’s trade deficit shrank by 12% to 73.7 billion dirhams ($7.58 billion) in the first five months of 2020 from a year earlier.
Imports dropped 16.9% to 174.5 billion dirhams and exports tumbled 20.1% to 100.8 billion dirhams, the regulator said in a monthly report citing the impact of the COVID-19 pandemic.
Energy imports, including gas and oil, fell 9.2% to 22.9 billion dirhams, on the back of lower prices.
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Mauritius on Wednesday said Mauritius’s central bank and Financial Services Commission have started a joint investigation into alleged round-tripping linked to Wirecard AG.
German police and prosecutors raided Wirecard’s headquarters in Munich on Wednesday as they widened their fraud investigation into the payments company that collapsed last week.
The central bank in a statement said Wirecard AG could have been linked to a probable case of round-tripping involving a Mauritius-registered entity, adding that it will seek the help of other law enforcement agencies.
It added that The Bank and the FSC are determined to bring to light any possible breach of regulatory requirements.
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The firm representing the businesses has calculated that Virus-related claims from just over 500 small South African firms battling insurers who have rejected them are worth up to 4 billion rand ($232 million).
Loss adjustment firm Insurance Claims Africa (ICA) is pushing a host of big South African insurers including Santam, Old Mutual, Hollard and HIC Underwriting Managers to make payouts under business interruption policies sold to its clients.
ICA CEO, Ryan Woolley, told journalists on Wednesday that its calculations showed the claims by the firms ICA is representing amounted to between 3.5 billion rand and 4 billion rand, though it had offered the relevant insurers reduced amounts to settle the matter.
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South Africa’s central bank data on Thursday said the country’s current account balance swung to a surplus of 1.3% of gross domestic product (GDP) in the first quarter of 2020 from a deficit of 1.3% of GDP in the previous three months.
The surplus was the first since the first quarter of 2003.
The trade balance showed a wider surplus of 208 billion rand ($12.27 billion) in January-March, more than double the 102.5-billion-rand surplus in the previous three months.
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An Economist, Dr. Adu Owusu Sarkodie, says the Finance Minister, Ken Ofori-Atta should be able to outline the progress made so far with the allocation of support under the government’s Coronavirus Alleviation Programme when he presents the Mid-year budget review to Parliament later this month.
Dr. Sarkodie says limiting budgetary allocation is critical, since an increase is likely to impact the country’s budget deficit, which is the difference between the revenue and expenditure.
Finanve Minister Ken Ofori-Atta is expected to present to legislators revised estimates on the performance of the economy he presented in November 2019.
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Oando Plc has commended the Nigerian National Petroleum Corporation for spearheading the Ajaokuta-Kaduna-Kano Gas Pipeline Project and others aimed at developing critical infrastructure in the country.
The project was championed by two consortia, comprising select indigenous and international companies, and commenced in 2013 with the announcement for tenders by the NNPC.
Oando said the project would support the addition of 3,600 megawatts of power to the national grid and connect energy demand from the northern part of the country with supply from the South.
The Group Chief Executive, Oando, Adewale Tinubu, said as acompany focused on driving indigenous participation, they have always been proponents of public-private partnership in accelerating the actualisation of the nation’s goals.
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The Chartered Institute of Bankers of Nigeria says it has rescheduled its April diet examinations to hold along with the October diet examinations.
A statement by the Head Corporate Communication and External Relations, Mr Nelson Olagundoye, said the examination was rescheduled to ensure the safety of the students and other stakeholders that would participate in it.
He said the decision to reschedule the examination was in line with the uncertainty surrounding the full relaxation of the measures imposed by the federal and state governments to curb the spread of the coronavirus pandemic.
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A survey by Reuters found that the Organisation of Petroleum Exporting Countries saw its oil output hit the lowest in two decades in June as Saudi Arabia and other Gulf Arab members made larger cuts.
The group compliance in a supply reduction pact rose above 100 per cent despite incomplete adherence by Iraq and Nigeria.
The 13-member OPEC pumped 22.62 million barrels per day on average in June, the survey found, down 1.92 million bpd from May’s revised figure.
OPEC and its allies in April agreed to a record output cut to offset a slump in demand caused by the coronavirus crisis. An easing of lockdowns and lower supply have helped prices climb above $40 from April’s 21-year low of below $16 a barrel.
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Moody’s Investors Service on Wednesday said Nigerian banks’ foreign currency funding gap will rise to $5bn over the current low oil prices, volatile foreign inflows and lower remittances amid coronavirus pandemic.
Moody’s, in its July 2020 report, titled ‘Renewed foreign-currency shortages highlight vulnerability for banks’, said the challenges were threatening to renew the foreign currency liquidity pressures that blighted Nigerian banks during a previous oil crisis in 2016-2017.
A banking analyst at Moody’s, Peter Mushangwe, said lower dollar inflows at a time when foreign currency borrowing will likely be more expensive for Nigerian banks will strain their foreign currency funding, despite substantial improvements compared to 2016.
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The core investors in the Discos are looking to restructure the loans advanced to them by banks for the acquisition of the assets.
The Discos also want the Central Bank of Nigeria Nigerian Electricity Market Stabilisation Fund disbursed to them to be restructured for longer duration.
The CBN introduced a N213bn intervention fund, a loan facility with a 10-year repayment period in September 2014, about a year after the privatisation of the power sector
The NEMSF was meant to assist the Gencos and Discos to settle legacy gas debts, execute agreed metering and maintenance programmes, and finance procurement of transformers and other equipment.
According to the Discos, the total amount of Discos’ portion of the CBN NEMSF is N49.9bn and a part of that cash was used as collateral for letter of credit guarantees to banks.
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The Senate on Wednesday summoned the Minister of Finance, Budget and National Planning, Zainab Ahmed, and the Governor of the Central Bank of Nigeria, Godwin Emefiele, to brief it on measures to curb tax evasion by expatriates.
The decision followed a motion by the Chairman, Senate Committee on Federal Roads Maintenance Agency, Senator Gershom Basset.
Also summoned were heads of the Federal Inland Revenue Service, the Economic and Financial Crimes Commission, and the Independent Corrupt Practices Commission, the heads of the Nigerian Financial Intelligence Unit, the Nigerian Export-Import Bank, and the Nigerian National Petroleum Corporation, among other relevant institutions.
The panels are also expected to appraise of the FIRS’ current framework for tracing, identifying, preventing and sanctioning cross-border tax evasion and other illicit financial outflows.
The Senate asked the committees to come up with a holistic legislative framework on how to repatriate lost revenue due to illicit financial flows.
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The Federal Government has increased the pump price of Premium Motor Spirit, also known as petrol from N140.80 to N143.80 per litre.
Executive Secretary of the Petroleum Products Pricing Regulatory Agency (PPPRA) Abdulkadir Saidu on Wednesday announced the increment in a statement.
The statement said the new price was made after a review of the prevailing market fundamentals in the month of June and considering marketers’ realistic operating costs, as much as practicable.
It further said that all marketers are advised to operate within the indicative prices as advised by the PPPRA.
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The Federal Government has announced the resumption of domestic flights in the country.
The Minister of Aviation, Hadi Sirika, announced this in a tweet on Wednesday.
According to him, the Abuja and Lagos airports will resume domestic operations on July 8, while the Kano, Port Harcourt, Owerri and Maiduguri airports would resume on the 11th.
Other airports are also expected to resume operations on the 15th.
Sirika, however, noted that a date for the international airports will be announced in due course.
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Volvo Cars on Wednesday said it was recalling nearly 2.2 million cars built between 2006 and 2019 to address a potential issue with cables attached to their front seat belts in the automaker’s biggest ever recall.
Volvo said it would contact owners of the affected models, such as the V60, V70 and XC60, asking them to contact their Volvo retailer to have their cars repaired free of charge.
The carmaker, owned by China’s Geely, said it had not received any reports of accidents or injuries connected to the flaw and that the move was preventative to avoid any possible issues in the future.
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German logistics company DHL on Wednesday said it has temporarily suspended picking up import shipments from China to India, after border tensions between the countries led to clearance delays.
According to a BloomberQuint report, another prominent freight transporter FedEx Corp has also suspended shipments, adding that the company is facing backlogs beyond its control.
A DHL representative confirmed to Reuters that the recent delay in customs clearance of cargo into India caused the shipment company's DHL Express India unit to temporarily suspend pickups from mainland China, Hong Kong and Macau.
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The European Central Bank is lowering the bar for bank mergers in the euro zone, hoping to encourage an elusive wave of consolidation in a sector plagued by low profits and unresolved issues inherited from the last financial crisis.
In a guide published on Wednesday, the ECB clarified that merged entities won't necessarily be asked for extra capital and will be allowed to use their own accounting models as well as any paper profit that occurs when an asset is bought below its book value.
These were some of the concerns flagged by bankers in recent years when evaluating mergers and acquisitions (M&A) in the euro zone.
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The head of human resources at sportswear giant Adidas has resigned amid a row over the firm's corporate culture and lack of diversity.
Karen Parkin a British citizen who had worked at Adidas for more than 20 years.
Her exit follows protests by Adidas staff over a comment she reportedly made at an internal meeting last year.
Global brands face increasing pressure to take action over racial equality after the death of George Floyd.
In a statement issued by the world’s second largest sportswear maker Ms Parkin said that she had always stood against racism and had decided to retire and pave the way for change.
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Two leading UK firms, the insurer Aviva and the Intercontinental Hotels Group (IHG) have become the latest to put a hold on advertising on Facebook.
They join Ford, Adidas, HP, Coca Cola, Unilever and Starbucks, which have all acted in response to how the social network deals with hate speech.
The Stop Hate for Profit campaign claims that Facebook is not doing enough to remove hateful content.
Facebook has said it wants to be a force for good.
Ahead of the latest developments, the tech firm's UK director Steve Hatch told BBC that there was no profit in content that is hateful.
Aviva said they regularly review which social media platforms they use and have taken this moment to pause and reassess Aviva's use of Facebook for advertising in the UK.
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Ratings agency Fitch on Tuesday warned that Government debt burdens across sub-Saharan Africa are rising at a faster pace and to higher levels than elsewhere in emerging markets, heightening the risk of further rating downgrades and defaults.
Emerging markets have been battered by the fallout from the coronavirus pandemic, with a coinciding oil price rout adding to the pain for smaller and often riskier developing countries, many focussed on crude exports and having few fiscal or monetary buffers.
Fitch predicted that the median of government debt-to-GDP for the 19 sovereigns it rated in the region would rise to 71% by end-2020 from 26% in 2012, while the median debt ratio across other emerging markets is expected to climb to 57%.
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The Bank of Ghana in its last auction of forex in June, received 33% of the total amount of dollars dealers bid for.
The total bids were also about three times lower than the figure offered by the dealers.
For the last auction in June 2020, the Forex Auction Committee of the Bank of Ghana accepted $25,000,000 out of the $75,500,000 offered by forex dealers.
This means that the central bank rejected $50, 500,000 out of the amount bid for.
The $25,000,000 is also the amount the regulator sought to accept for purposes of controlling the supply of dollars.
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Kenya’s economy grew by 4.9% in the first three months of this year slowing down from its previous growth of 5.5% same period last year.
According to the East African nation’s statistics office, Kenya was lightly spared the brunt of the Covid-19 pandemic during the period, except for the hospitality sector which has been hit hard.
The Kenya National Bureau of Statistics says the hospitality industry shrunk by nearly 10% due to massive cancellations and suspension of international travel as well as an unprecedented closure of hotels and other tourist sites, as the country raced against time to contain the spread of coronavirus.
Kenya’s major trade partners such as China, the European Union and the United States suffered far reaching effects of the Covid-19 pandemic and this meant, export earnings were immediately reduced.
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The Central Bank of Nigeria has said it is probing some dealers for allegedly procuring foreign currencies for the purpose of importing items, which had been designated as invalid for the Nigerian foreign exchange market.
The Federal High Court in Lagos ordered that the bank accounts of the suspects should be frozen for 180 days to allow for investigation by the apex bank while following an ex parte application by the CBN Governor, Godwin Emefiele, on Monday.
Emefiele told the court that the illegal activities of the dealers had continually undermined the CBN’s efforts to maintain a stable foreign exchange regime, which causes significant economic and financial instability to the Nigerian economy.
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According to the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, the non-performing loan ratio of the Nigerian banking sector dropped to 6.6 per cent at the end of April 2020 from 11 per cent in April 2019.
In a report recently released by the CBN on the last Monetary Policy meeting, Emefiele said the observed growth in credit illustrates the continued potency of the bank’s Loan to Deposit Ratio policy and the need to sustain credit flows to the private sector, especially at this critical time when the economy needs to indefatigably support its productive machinery.
He said the reduction in the NPLs underlined the CBN’s continued drive to de-risk lending.
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The Federal Government on Tuesday said the Bank of China and Sinosure, a Chinese export and credit insurance corporation, are to fund the $2.6bn Ajaokuta-Kaduna-Kano gas pipeline.
Two Chinese firms will also work along with their counterparts in Nigeria to execute the project, which was officially inaugurated virtually by the President on Tuesday.
Brentex/China Petroleum Pipeline Bureau-CPP Consortia and Oilserve/China First Highway Engineering Company-CFHEC Consortia were announced as the Engineering Procurement and Construction contractors for the project.
Buhari said the pipeline would provide gas for the generation of power and for gas-based industries to facilitate the development of new industries.
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The National Assembly and electricity distribution companies have asked the Federal Government to subsidise electricity consumption.
The Discos on Monday told the National Assembly leadership that the only condition to halt tariff hike was for the Federal Government to bear the difference between the current tariff and the proposed one.
The President of the Senate, Ahmad Lawan and the Speaker of the House of Representatives, Femi Gbajabiamila, on Tuesday insisted that the planned hike in electricity tariff in the country was not timely.
They said while they agreed on cost-reflective tariff, some measures such as proper metering must be put in place before such hike could be implemented
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The impact of the COVID-19 pandemic is estimated to cost Nigeria and other oil exporters in Africa a total of about $34bn in revenue.
According to the International Monetary Fund, the projected decline in revenue is attributable to the dwindling global crude oil prices.
IMF’s Director, African Department, Abebe Selassie, disclosed this at the Africa Ministerial Roundtable on COVID-19 impact on the energy sector in Africa.
The fund noted that African governments would be under intense budget pressure and rise in debt burden, adding that such burden would be higher among oil exporting countries.
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The Federal Government has disclosed plans to force the Digital Satellite Television, owned by MultiChoice, a South Africa-based cable service provider, to provide pay-per-view options to Nigerian subscribers.
The government also said it has amended Nigeria’s broadcasting code to prevent DSTV from monopolising its channels and contents.
This is just as the House of Representatives ordered the Nigerian Broadcasting Commission to ask DSTV to reverse its subscription rates introduced on June 1, 2020.
The House has been probing DSTV for allegedly cheating its Nigerian subscribers by restricting them to prepaid plans.
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The Nigerian Civil Aviation Authority on Tuesday said the approval by the Federal Government for the resumption of domestic flights will only be given when it is safe to open the airports and airspace to commercial operations.
The NCAA also declared that private jets were not allowed to operate charter flight services because some private jet owners had been found to be violating this order.
The General Manager, Public Relations Department, NCAA, Sam Adurogboye, said that although the Federal Government through the Presidential Task Force on COVID-19 had given approval to resume domestic flights, the airspace would only be opened when it is safe.
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A total of N66 billion has been generated as stamp duty revenue by the Federal Government between January and June 2020.
The Chairman of the Federal Inland Revenue Services, Muhammad Nami, disclosed this during the inauguration of the inter-ministerial committee on audit and recovery of back years stamp duties.
Mr. Nami while giving a breakdown of the revenue added that the Finance Act has mandated the revenue agency as the sole body to receive stamp duties for the country.
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The leadership of the National Assembly has convinced the Distribution Companies (DISCOs) in the country to defer the hike in electricity tariffs scheduled to take effect from July 1, 2020.
This is according to a statement on Monday by the Special Adviser to the Senate President on Media, Ola Awoniyi.
He revealed that the lawmakers met with the Chief Executives of the Nigerian Electricity Regulatory Commission (NERC) and the DISCOs and succeeded in persuading them to postpone the planned increase of tariffs until the first quarter of 2021.
Awoniyi said the National Assembly leaders were emphatic that the timing of the planned hike was wrong, although they do not have issues with the need to introduce cost-reflective tariffs for the power sector to attract the much-needed investment.
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The Central Bank of Nigeria said it is stimulating local production in the agriculture business to enhance growth and boost employment in the country.
Some of the apex bank’s agribusiness initiatives are the Agricultural Credit Guarantee Scheme Fund, Agricultural Credit Support Scheme, the Commercial Agriculture Credit Scheme, and the Real Sector Support Facility, according to a statement.
The Director, Development Finance Department, CBN, Yila Yusuf, said the bank’s funding of the Anchor Borrowers Programme for the 2020 season was the highest since the inception of the programme in 2015.
A global culinary product manufacturing firm, GBFoods, said in a statement that it partnered with the CBN and some others recently to complete a N20bn tomato processing factory in Kebbi State.
According to the statement, the factory is the second largest in Nigeria, West Africa’s only fully backward integrated plant and has the largest single tomatoes farm in Nigeria.
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The Nigerian National Petroleum Corporation targets to complete the $2.59bn Ajaokuta-Kaduna-Kano gas pipeline project in 24 months.
It said the construction phase of the 40-inch by 614km pipeline project, which is being inaugurated virtually Tuesday by the President Muhammed Buhari would boost domestic gas utilisation.
The corporation’s Group General Manager, Group Public Affairs Division, Kennie Obateru, said the project was a section of the Trans-Nigeria Gas Pipeline with capacity to transport about 2.2 billion cubic feet of gas per day.
NNPC said the the AKK pipeline would originate from Ajaokuta, in Kogi State and traverse Abuja, Niger, Kaduna and End at Kano.
It said the project would boost domestic utilisation of natural gas for Nigeria’s socio-economic development when completed.
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MTN Foundation says it has invested an estimated sum of N247m in anti-substance abuse campaign and impacted 13.5 million people.
The Foundation in a statement on Monday said it set up the Anti-Substance Abuse Programme in 2018 hinged on awareness, advocacy, information and resource dissemination to curb the prevalence of substance abuse and addiction in Nigeria.
The telecom company said it held a virtual event in collaboration with partners to commemorate the International Day against Drug Abuse and Illicit Trafficking.
The Minister of Youth and Sports, Sunday Dare, while speaking at the event lamented the rising rate of substance abuse and advised on policies that could be implemented.
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The Asset Management Corporation of Nigeria has taken over a factory and other assets belonging to Polema Industries Limited and its Chief Promoter, Chief Emmanuel C. Obi over an indebtedness of over half a billion naira.
A statement from AMCON said this followed the order of Hon. Justice F.O.G. Ogunbanjo of the Federal High Court, Abuja who granted AMCON possession over the company and its assets.
It stated that Justice Ogunbanjo also ordered that all the bank accounts of the company as well as that of Obi be frozen.
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The International Monetary Fund on Monday said there was urgent need for international financial support to Nigeria and other Sub-Saharan countries of Africa, as the nations need $110 to manage the impact of COVID-19 pandemic.
In its report entitled Sub-Saharan Africa: A Cautious Re-opening, the fund stated that the immediate priority in the region remained the preservation of health and lives.
the IMF stated that as the region starts to recover, authorities should gradually shift from broad fiscal support to more affordable, targeted policies, concentrating particularly on the poorest households and those sectors hit hardest by the crisis.
It said the fund had supported 29 countries in the region with about $10bn in funding through its Catastrophe Containment and Relief Trust facility, but stressed that this was not enough.
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The Chamber of Petroleum Consumers, COPEC, has justified its decision to check the amount of fuel dispensed to consumers at various fuel stations.
The Association of Oil Marketing Companies, OMCs, has criticized the act accusing COPEC of usurping the powers of the National Petroleum Authority, NPA, and the Ghana Standards Authority, GSA, which are mandated to ensure that OMCs expense the right amount of fuel for any purchase.
COPEC however maintains that its actions have in the past led to some defaulting OMCs being fined, which in turn ensured value for money to consumers.
According to COPEC, its occasional checks at fuel stations forms part of its role as a civil society organization interested in promoting the interest of consumers.
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South Africa’s High Court on Monday sided with Eskom in a dispute over the amount energy regulator Nersa allowed the state utility to claw back from customers for electricity supplied in the 2014/15, 2015/16 and 2016/17 financial years.
Nersa’s 2018 decisions to allow Eskom to recoup 32.69 billion rand ($1.9 billion) via a mechanism known as the regulatory clearing account (RCA) for those three years have been set aside, and it must now come up with new decisions.
Monday’s ruling could lead to higher power tariffs, as the court said it appeared Nersa had disallowed Eskom money for lower-than-forecast revenue based on a “fundamental factual error”. It said disallowing some coal costs was not rational.
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South Africa’s rand weakened in early trade on Tuesday ahead of a series of data releases, including first quarter economic growth figures, trade and budget balance, which are all expected to show a struggling economy with bleak prospects.
At 0630 GMT, the rand was 0.3% weaker at 17.3125 per dollar, giving up Monday’s small gains as investors awaited the data for direction.
The currency has struggled for direction in the sessions following last Wednesday’s emergency budget speech, which painted an unsurprisingly bleak picture of the finances of the continent’s most developed economy and little market reaction.
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The petroleum ministry on Tuesday said Egypt has discovered a gold deposit in the southeast of the country containing more than 1 million ounces.
The ministry in a statement said the deposit lies in the concession area of the Shalateen Mining Company, adding that there could be investments exceeding $1 billion over 10 years to exploit the deposit.
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Central bank data on Tuesday showed that Growth in private sector credit in South Africa in May slowed to 6.35% year on year from a revised 7.18% in April.
Expansion in the broadly defined M3 measure of money supply also slowed, to 10.26% in May from 10.47% in April.
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South Africa’s MTN is branching into the online shopping space by providing its customers with the option to pay for online purchases using mobile money payment instead of a bank card.
The spread of COVID-19 has accelerated the adoption of mobile financial services, which are increasingly being recognised as a means to mitigate the use of bank notes and coins amid the pandemic.
MTN in a statement on Monday said with demand for e-commerce growing rapidly in South Africa, MTN will launch mobile money (MoMo) Pay for online shopping this week.
It has an agreement with major partners to enable over 4,000 e-commerce websites to accept MoMo and will also partner with small-medium enterprises with e-commerce channels.
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South African media and e-commerce group Naspers on Monday reported a 4.5% drop in profit for the year to March 31, mainly as a result of investments to drive growth in its food delivery business.
Core headline earnings per share (HEPS) the main profit measure in South Africa on Monday said it fell to $6.57 from $6.87 a year earlier. The company had estimated that HEPS would drop by 10-16%.
The results were announced after the stock market closed with the technology giant’s shares up 0.3%.
The South Africa-based media powerhouse, with businesses spread across Brazil, China, India, Russia and Europe, said its revenues for the full year jumped 17% to $22.1 billion, driven mainly by its food delivery and classifieds segments.
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China on Tuesday said it was concerned about India’s decision to ban Chinese mobile apps such as Bytedance’s TikTok and Tencent’s WeChat and was making checks to verify the situation.
Chinese foreign ministry spokesman Zhao Lijian told reporters during a daily briefing that India has a responsibility to uphold the rights of Chinese businesses.
India on Monday banned 59, mostly Chinese, mobile apps in its strongest move yet targeting China in the online space since a border crisis erupted between the two countries this month.
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Official figures showed that the UK economy shrank more than first thought between January and March, contracting 2.2% in the joint largest fall since 1979.
The Office for National Statistics (ONS) revised down its previous estimate of a 2% contraction, with all the main economic sectors dropping.
The data comes as the prime minister is set for a major speech on the economy.
Deputy national statistician at the ONS, Jonathan Athow said a more detailed picture of the economy in the first quarter showed GDP shrank a little more than first estimated.
The first-quarter contraction is now the joint biggest drop since the July-to-September period in 1979.
The ONS said production output fell by a revised 1.5% in the three months, driven by declines in manufacturing as factories temporarily shut down, while there was a fall in construction output of 1.7%.
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The UK's financial watchdog has lifted restrictions on German payments company Wirecard, allowing it to resume payment activities.
The Financial Conduct Authority (FCA) imposed restrictions on the company's UK arm after its collapse last week.
Thousands of people could not access their money or make payments through apps as a result.
The FCA said its primary objective all along has been to protect the interests and money of consumers.
Customers should now, or very shortly, be able to use their cards as usual.
the FCA's interim chief executive, Christopher Woolard told the BBC's that the FCA had imposed very strict conditions on Wirecard's UK subsidiary based in Newcastle, which had knock-on effects for about 70 payments firms.
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E-commerce giant, Amazon. Com on Monday said its Indian unit of has eliminated all single-use plastic in its packaging across fulfillment centers in the country, in line with its target to weed out the packaging material by June.
The company said in addition to replacing packaging materials such as bubble wraps and air pillows with paper cushions, it had also swapped out packaging tapes with other bio-degradable options.
Akhil Saxena, vice-president of customer fulfillment for the APAC, LATAM and Middle East and North Africa regions in an interview said they have successfully eliminated single-use plastic in all our fulfillment centers a 100%.
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Chancellor Angela Merkel hosts French President Emmanuel Macron for talks on Monday, just days before Germany takes on the rotating presidency of the European Union with an economy mired in the worst crisis since World War II.
Berlin’s chairing of the 27-member bloc will be its last with Merkel in charge, and could be the one that defines the legacy of the leader dubbed the “eternal chancellor”.
With the future of the bloc’s relationship with Britain still to be determined, a crucial shift to a lower carbon world in the balance and crises from Libya to Syria all jostling for attention, there is no shortage of burning issues to tackle.
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The EU and Britain launch an intense five weeks of negotiations on a deal to define their post-Brexit relations on Monday, with London keen to wrap things up quickly.
The new round of talks in Brussels will be the first to be held face-to-face since the coronavirus shutdown combined with the two sides’ entrenched positions to stall progress.
The meetings will alternate weekly between Brussels and London throughout July and at the end of August, as the teams learned on Sunday, the British negotiator David Frost will be promoted to become Prime Minister Boris Johnson’s national security adviser.
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Starbucks has announced it will suspend advertising on some social media platforms in response to hate speech.
The coffee giant joins global brands including Coca-Cola, Diageo and Unilever which have recently removed advertising from social platforms.
A Starbucks spokesperson told the BBC the social media "pause" would not include YouTube, owned by Google.
Starbucks in a statement said they believe in bringing communities together, both in person and online.
it said the brand said it would have discussions internally and with media partners and civil rights organizations to stop the spread of hate speech". it will however continue to post on social media without paid promotion.
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The South African rand was little changed early on Monday, despite health officials recording a steeper rise in coronavirus infections over the weekend.
Health experts say the local virus outbreak is yet to reach its peak, after authorities delayed a surge in infections by imposing a strict lockdown in late March.
At 0657 GMT, the rand traded at 17.24 versus the dollar, 0.1% stronger than its closing level on Friday.
The yield on the 2030 government bond was 1.5 basis points higher at 9.20%, reflecting slightly lower bond prices.
According to a central bank estimate, the coronavirus crisis is expected to take a heavy toll on Africa’s most industrialised economy, which was already in recession in the final quarter of 2019 and could contract by 7% in 2020.
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The Governor of the Bank of Ghana, Dr. Ernest Addison, has said reduced domestic interest rates will empower local banks to participate in the cocoa syndicated loan.
COCOBOD is seeking to raise 1.3 billion dollars to finance the 2020/2021 crop season.
Financial analysts have however maintained that the funds used in purchasing cocoa beans would have been retained in the country if more local banks participate in the process.
Dr. Addison stated that there is the need to work on interest rates to encourage local banks fund cocoa purchasing while appearing before Parliament’s Public Account Committee.
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The Chief Executive Officer of Ghana COCOBOD, Joseph Boahen Aidoo, says government has been able to erase the misconception that Ghanaian cocoa farmers exploit children on their farms.
A recent report funded by the US Department of Labour, claimed that Ghana and Ivory Coast were using more than 2 million children on cocoa farms. Even though Ghana has already petitioned the U.S Labour Department disputing the report
The CEO of COCOBOD, Joseph Boahen Aidoo, says Ghanaian cocoa farmers have been educated on best practices to prevent the international community from boycotting Ghana’s cocoa.
Ghana’s cocoa industry is a major contributor to government revenue and GDP. It employs approximately 800,000 farm families spread over nearly half of the 16 regions of Ghana as the crop also generates about $2 billion in foreign exchange annually.
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The private sector Coalition against COVID-19 has raised about N29bn in its fight against the coronavirus pandemic.
The Central Bank Governor, Godwin Emefiele, disclosed this during the commissioning of Lagos State Isolation Center at Yaba, on Sunday.
He commended the Nigerian private sector who have come together under the Coalition Against COVID-19 to support the government by providing donations which today stands at almost N29bn.
He said the donations are being used to build well equipped centers cross the 36 states of the federation.
He added that CACOVID has established 32 isolation centers across states in the country and by the end of july,39 isolation centers would have been established by CACOVID all over the country.
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Lagos State Government said it paid insurance benefits worth N93m to relatives of deceased civil servants in three months.
This was disclosed in its report, titled ‘Towards a greater Lagos.’
According to the report, Lagos presented insurance death benefits of N93m to 35 direct beneficiaries of deceased civil servants between December 2019 and March 2020.
It said the Governor approved the reinstatement of the global insurance package for year 2020/2021 insurance year.
The state government also disclosed that it had commenced the issuance of identity cards to retirees, and enlightened them on the need to enroll for the health insurance scheme as well as enjoy free rides on government mass transit buses and ferry.
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Lagos State Government said it paid insurance benefits worth N93m to relatives of deceased civil servants in three months.
This was disclosed in its report, titled ‘Towards a greater Lagos.’
According to the report, Lagos presented insurance death benefits of N93m to 35 direct beneficiaries of deceased civil servants between December 2019 and March 2020.
It said the Governor approved the reinstatement of the global insurance package for year 2020/2021 insurance year.
The state government also disclosed that it had commenced the issuance of identity cards to retirees, and enlightened them on the need to enroll for the health insurance scheme as well as enjoy free rides on government mass transit buses and ferry.
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The Petroleum Products Pricing Regulatory Agency on Sunday insisted that it would continue fixing price bands for petrol despite opposition by oil marketers to the move.
It also declared that a regulation for petrol, had been established in collaboration with the Federal Ministry of Petroleum Resources and the Office of the Attorney-General of the Federation.
The Executive Secretary, PPPRA, Abdulkadir Saidu, disclosed this while addressing questions on the PMS pricing regime, which commenced on March 19, 2020.
Since the introduction of the regime, marketers had expressed concerns over the issuing of monthly guiding prices for petrol.
Saidu argued that different sectors of the economy operate under the guidance of national regulators.
He said that while the market-based pricing regime was a policy introduced to free the market of all encumbrances to investment and growth, it should not be misconstrued to mean a total abdication of government’s responsibility to the sector and citizenry.
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Nigeria has been excluded from the list of countries whose travelers could be received into Europe when the borders reopen on July 1.
Schengenvisainfo.com reported that the European Union Commission released a list of 54 countries that qualified for travels into Europe as the union opens its borders that were shut to contain the spread of COVID-19.
The commission said that citizens of Brazil, Qatar, the US and Russia would only be able to enter Europe at a later date when the epidemiological situation in these countries improves.
The EU Commission spokesman, Eric Mamer, said the union had the right to choose who would enter its borders.
He said the European Union has an internal process to determine from which countries it would be safe to accept travelers, adding that it was based on health criteria.
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The Nigerian Maritime Administration and Safety Agency has warned stakeholders about 13 vessels bound for Nigeria from five countries heavily affected by the coronavirus pandemic.
Eight of the vessels are expected to berth in Apapa, Lagos; four in Bonny, Rivers State; and one in Port Harcourt, Rivers.
The Director-General of NIMASA, Jamoh Bashir, who raised the alarm in a statement, said there was a need to ensure stakeholders adhered strictly to the guidelines put in place to prevent the spread of COVID-19 in Nigeria.
Bashir said the advisory was to alert all agencies of government and private sector operators at the ports of the expected arrival of the vessels and ensure that they operated the vessels with the highest level of professionalism.
The vessels, previous port of call included the United States, Brazil, India, Spain and the United Kingdom.
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The Chief Executive Officer of Air Peace, Allen Onyema, has joined several stakeholders in the aviation sector to seek palliatives to keep airlines afloat.
Onyema stressed that palliatives would help airlines save staff jobs.
He said, Palliatives, bailout, rollout, intervention funds is necessary. All over the world, the government is giving palliatives, bailout funds to their airlines.
Onyema said sacking workers could lead to more crime in the society
He also added that as also said that the Federal Airports Authority of Nigeria’s decision to increase the passenger service charges on flight tickets by 100 per cent would increase flight cost.
He made this known at the end of a flight simulation exercise ahead of the resumption of domestic flights in the country.
FAAN had last week announced its plan to increase passenger service charges on domestic flights from the current rate of N1,000 to N2,000 and from $50 to $100 on international flights.
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President Muhammadu Buhari is set to inaugurate the construction of the Ajaokuta-Kaduna-Kano gas pipeline in Kogi State and in Rigachikun, Kaduna State.
According to a tweet by the Nigerian National Petroleum Corporation, the ceremony would hold virtually on Tuesday.
The corporation also stated that the construction phase of the AKK pipeline would go ahead simultaneously with the inauguration by the president.
The AKK gas pipeline is a project designed to facilitate the development of three gas-based independent power plants in Abuja, 1,350 megawatts; Kaduna, 900MW; and Kano, 1,350MW.
The NNPC noted that being a section of the Trans Nigeria Gas Pipeline, the AKK gas pipeline had the capacity to transport about 2.2 billion standard cubic feet of gas per day.
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Virgin Australia has been bought by US private equity group Bain Capital after falling into administration due to coronavirus travel restrictions.
The airline was struggling with long-term debt of A$5bn (£2.55bn; $3.17bn) even before the pandemic struck.
Australia's second biggest carrier had unsuccessfully asked for government loans before its collapse in April.
Administrators for the airline, Deloitte, said on Friday that Bain would become the new owners, with the deal expected to be completed by the end of August.
A statement said Bain supports the airline's current management team and its turnaround plan for the business. It has also committed to retain thousands of jobs.
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US telecoms operator Verizon has become the latest major company to pull advertising from Facebook platforms.
The company joins Ben and Jerry's and a growing list of firms boycotting the social media giant over its handling of controversial posts.
Verizon is believed to be the biggest advertiser so far to back the Stop Hate for Profit campaign.
Other than its namesake platform, Facebook's social media brands also include Instagram and WhatsApp.
Verizon spokesperson told the BBC that the brand safety standards have not changed. They are pausing advertising until Facebook can create an acceptable solution that makes them comfortable.
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CEO Allan Kilavuka told reporters on Friday that Kenya Airways has lost an estimated $100 million in revenue as a result of the coronavirus pandemic and related lockdowns.
Kilavuka said they don’t have the full picture of how much they have lost but the estimate since January to date will be around $100 million.
He said according to estimate the ailine will lose between $400 and $500 million.
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Ratings agency Moody’s on Thursday said The South African government target to stabilise its ballooning debt by 2023 will be very difficult to achieve and unlikely.
The Treasury on Wednesday presented a supplementary budget in response to the coronavirus crisis that projected a wider budget deficit, while public debt was estimated to be more than three quarters of gross domestic product in the medium term.
Moody’s in a research note on the budget said the government hopes to achieve a primary surplus by fiscal 2023 that would stabilise debt.
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Djibouti Government on Thursday said it is setting up a sovereign wealth fund for domestic and regional investment, aiming to fund it to the tune of $1.5 billion over the next decade.
Wealthy nations traditionally use sovereign wealth funds to invest surplus billions overseas to prevent inflation at home, diversify income streams and accumulate savings.
The government said Djibouti will however use its fund to finance domestic investment including in the telecoms, logistics and infrastructure sectors. It will also prioritize investments in the Horn of Africa region.
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President Edgar Lungu on Thursday said Zambia’s expenditure is expected to rise by approximately 20 billion kwacha ($1.11 billion) this year as the local currency weakens, piling more pressure on a nation already struggling with huge debt.
Lungu said in a national address External debt service will rise by 8.7 billion kwacha because of a sharp fall in the currency.
Zambia has $3 billion of Eurobonds outstanding and owes $2 billion to commercial banks, $2 billion to the International Monetary Fund and World Bank, and a further $3 billion to China.
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South Africa’s rand was little changed early on Friday amid surging global coronavirus infections, despite the currency’s staging a recovering after a gloomy budget earlier in the week.
At 0617 GMT, the rand traded at 17.1750 versus the dollar, 0.2% lower than its New York close on Thursday.
The rand had regained ground after the budget speech, which forecast ballooning debt and a higher government deficit, as well as fading hopes globally of a quick economic recovery.
Finance Minister Tito Mboweni on Wednesday said the main budget deficit would widen to a record 14.6% of gross domestic product in 2020/21, while public debt would top 80% as the country borrows to plug gaps in revenue caused by the COVID-19 pandemic.
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The Minister of Environment, Science, Technology and Innovation, Professor Frimpong Boateng, has given a one-week ultimatum to some steel manufacturing companies within the Tema Free Zones enclave to come out with a road-map on how they intend to deal with environmental pollution in their areas of operation.
The Minister’s warning comes in the wake of several complaints from some adjoining companies operating within the Free Zones enclave as well as residents living nearby regarding pollution from the steel companies in the area.
Among the steel manufacturing companies visited were United Steel, Rider steel, MND Metal and Success Aluminum Company.
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The Governor of the Bank of Ghana, BoG, Dr. Ernest Addison, has reiterated that it is illegal to price goods and services in foreign currencies such as the U.S dollar.
Despite the existence of the law, the practice exists in many facets of the Ghanaian economy as some businesses have even adopted new ways by pricing against the exchange rate without accepting the physical foreign currency to outwit the law.
the BoG Governor called on businesses and institutions operating in the country to desist from such acts while responding to a question raised by the MP for Ningo Prampram, Sam George, when he appeared before Parliament’s Public Accounts Committee,
He said Dollarisation is illegal and It is illegal to index to the US dollar. He said invoice in US dollars is not allowed.
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The Federal Government on Thursday engaged stakeholders from various sectors of the economy for the implementation of its Highway Development and Management Initiative.
It said the HDMI sought to bring multi-dimensional resources of skills, manpower, finance, technology and much more into the national highway governance within Nigeria’s 35,000 kilometres of federal highway.
The Minister of Works and Housing, Babatunde Fashola, who disclosed this during a webinar, noted that over N160bn worth of investments would be attracted by the first phase of the initiative.
He said the initiative was aimed at bringing order, accountability and profitable entrepreneurship to the operation, management and maintenance of federal highways.
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HP Inc. has announced its commitment to eliminating 75 per cent of single-use plastic packaging by 2025 as part of efforts to reduce its environmental footprint.
In its newly released 2019 Sustainable Impact Report, the company highlighted the progress it was making to drive diversity and inclusion as well as strengthen communities globally.
HP President and Chief Executive Officer, Enrique Lores, said Recent events have laid bare the systemic racism and deep inequalities that remain a stain on society.
He said it was important for companies to hold themselves accountable and publicly report their progress.
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The Federal Government on Thursday said it would announce the date for the reopening of Nigeria’s airspace to commercial flight operations next week.
It stated that the airports remained shut as some gaps in the aviation restart process had not been closed.
The Director-General, Nigerian Civil Aviation Authority, Musa Nuhu, disclosed this during Thursday’s briefing of the Presidential Task Force on COVID-19 in Abuja.
He, however, made no mention about the submission of the restart plan for the aviation sector.
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Air Peace on Thursday announced that it flew all 25 aircraft in its fleet on June 24 to different parts of the country in readiness for the resumption of domestic flights.
It said the flights were aimed at ensuring that the aircraft were in good condition, having been grounded for close to three months, although they had been under storage maintenance.
The airline in a statement by its spokesperson, Stanley Olisa said All the aircraft took to the skies flying to Abuja, Port Harcourt and back to Lagos without passengers.
Olisa said the flights were part of measures the airline had developed to guarantee the safety of both passengers and crew when operations resume.
He said the aircraft were brought out of storage and the pilots had been testing them, as all pilots and flight attendants had been retrained in line with the Nigerian Civil Aviation Authority directives.
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The National Bureau of Statistics said Commodity exports from Nigeria to China, India, Spain, Netherlands and South Africa in the first quarter of this year hit N1.87tn.
The NBS disclosed this in its Commodity Price Indices Terms of Trade report released on Thursday.
Petroleum products stood out as the most exported commodities in the first quarter of this year.
The major import into Nigeria came from India during the review period, with a monetary value of N637.5bn while total exports from Nigeria to Spain during the period was N402.9bn, with crude oil accounting for N360.44bn or 89.46 per cent.
Natural gas exported to the country was put at N31.97bn, while partially refined oil worth N5.29bn accounted for the export balance.
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A new report by the Central Bank of Nigeria on Thursday showed Business operators in different sectors showed a lack of trust in the economy in June.
The CBN’s Statistics Department’ disclosed this in its ‘June 2020 business expectations survey’, which was conducted for businesses nationwide.
The report said, respondent firms expressed pessimism on the macro economy. Respondents’ outlook on the volume of total order, financial conditions (working capital), access to credit and average capacity utilisation all remained negative, but optimistic on the volume of business activities.
The report said the respondent firms expected the naira to depreciate in the current month but appreciate from July to December.
The CBN said the survey was conducted in June with a sample of 1,050 businesses nationwide.
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CEO Sundar Pichai announced that Google has begun auto-deleting new users’ search data and location history on a rolling 18-month basis, as the tech giant moves to tighten privacy settings.
The tweak was introduced Wednesday and is the latest attempt by a big online firm to boost public trust after hefty fines were levied against Facebook and Google for privacy violations in recent years.
Pichai in a blog post said they believe that products should keep information for only as long as it’s useful and helpful adding that the changes were designed to keep less data by default.
He further said Current users can already opt in to auto-delete their data every three or 18 months, a setting that has not changed, although existing users will be reminded of the option to do so.
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Telecom operators said Nokia and Ericsson have been chosen as Singapore’s main 5G network providers, leaving Huawei with only a minor role as the Chinese tech giant faces growing US pressure.
Huawei has been dogged by allegations of stealing American trade secrets and aiding China’s espionage efforts, with Washington pushing countries to bar the company from involvement in their next-generation networks.
Huawei has however denied ties with the Chinese government.
Singtel, one of the city-state’s main telecom operators, on Wednesday said it had chosen Sweden’s Ericsson to build its 5G network after the government gave final approval.
Information Minister S. Iswaran insisted that no company had been excluded in the selection process and the Southeast Asian city-state tries to maintain good relations with both the US and China.
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The US Defense Department has determined that 20 top Chinese firms, including Huawei, are either owned by or backed by the Chinese military.
The list, seen by US media, features video surveillance firm Hikvision, China Telecoms, China Mobile and AVIC.
The determination could lay the groundwork for new US financial sanctions against the firms.
It comes as the US has pressured other countries, including the UK, to bar Huawei for national security reasons.
According to BBC, the list has been published in order to inform congressional committees, US businesses, investors and other potential partners of Chinese firms about the role such firms may play in transferring sensitive technology to the Chinese military. The list is also likely to grow.
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Qantas Airline said it will axe 6,000 jobs as part of its plans to survive the coronavirus pandemic.
The cuts equate to about a fifth of the airline's workforce prior to the Covid-19 crisis. In March, it furloughed more than 80% of its staff.
Australia's national carrier said the collapse in global air travel had devastated revenues.
Qantas was prompted to cancel all international flights until late October, except for those to New Zealand.
On Thursday, chief executive Alan Joyce said the airline expected smaller revenues in the next three years, forcing it to become a smaller operation to survive.
He said in a statement that the actions to be taken will have a huge impact on thousands of our people.
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Chile’s Nueva Inversiones Pacifico Sur (IPS) said it has made a proposal to Sun International to buy 50.1% of the South African hotel and casino operator for 22 rand ($1.27) a share.
The firm in a statement said the proposed offer also includes an interim liquidity support in the form of a bridge loan of up to 1.2 billion rand to Sun International.
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Mobile operator MTN Group will launch its 5G commercial network in South Africa next week, joining Vodacom Group and Rain in the race to expand fifth-generation technology in the country.
The firm said it is hosting a virtual launch event on June 30, where MTN South Africa CEO Godfrey Motsa will be present with other officials.
Last November, Swedish mobile telecoms equipment maker Ericsson announced that it had been selected by MTN South Africa to build its new 5G core mobile and radio network.
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South Africa’s rand edged lower in early trade on Thursday, pressured by a budget speech that forecast ballooning debt and a higher government deficit, as well as fading hopes globally of a quick economic recovery.
At 0640 GMT, the rand was 0.32 weaker at 17.4425 per dollar, not far off its overnight close following largely uneventful trade in the wake of Wednesday’s emergency budget which failed to push the currency beyond its 17.50 resistance.
Finance Minister Tito Mboweni said the budget deficit would widen to record 14.6% of gross domestic product in 2020/21, while public debt would top 80% as the country borrowed more to plug revenue holes caused by the COVID-19 pandemic.
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Harmony Gold on Thursday said it has raised $200 million after issuing more than 60 million new ordinary shares to partly fund its purchase of rival AngloGold Ashanti’s last remaining South African assets.
Harmony agreed in February to buy AngloGold Ashanti’s Mponeng mine, the world’s deepest gold mine, and its Mine Waste Solutions assets for about $300 million.
The deal will make Harmony South Africa’s biggest gold producer.
Harmony said it issued 60,278,260 new ordinary shares at a price of 57.50 rand per share, representing around 11% of the company’s issued ordinary share capital before the placing.
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The Ministry of Tourism, Arts and Culture, has launched a $ 9 million dollar Grant Scheme for Small and Medium Sized Enterprises in the tourism sector.
The Scheme, earmarked for interventions to strengthen the industry severely hit by the COVID-19 pandemic, is under the Ghana Tourism Development Project, a world bank funded project.
According to the Sector Minister, Barbara Oteng-Gyasi, this new intervention has come to complement already existing support schemes introduced by government.
She said the GHS 1 billion stimulus package launched by the President to support Micro, Small and Medium Scale Enterprises (SME) affected by the novel Coronavirus pandemic while the GHC 3 billion Cedis facility for larger businesses.
The Senior Minister, Yaw Osafo Marfo, said it is critical that every effort is made to sustain the industry after the COVID-19 pandemic.
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The Governor of the Bank of Ghana, Dr. Ernest Addison, has expressed some reservations about the processes being used in the prosecution of officials found culpable in the banking sector crisis.
He however says although the banking sector regulator has no control over the judicial processes, it is collaborating with the relevant state agencies to ensure that justice is served.
Dr. Addison made the comments when he appeared before the Public Accounts Committee of Parliament.
He said they wish the processes could have been faster and they are supporting the Attorney-General’s Department with some materials to help them prosecute shareholders and directors that are culpable.
According to the Finance Minister, the clean-up cost the country US$4 billion, which is about GH¢21 billion.
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The Bureau of Public Enterprises on Wednesday said the Federal Government is dividing the Nigerian Postal Service into three subsidiary companies which will operate on the principle of commercial viability.
The BPE’s Director-General, Alex Okoh, said the ongoing reform of NIPOST was not privatisation of the entity but an unbundling process, adding that the core postal service function would remain with NIPOST as the parent company.
Okoh disclosed this while inaugurating the sub-committee of the implementation committee for the postal sector reform, restructuring and modernisation at the bureau’s office in Abuja.
He named the three commercial ventures to be carved out of NIPOST as NIPOST Properties and Development Company; NIPOST Transport and Logistics Company; and NIPOST Microfinance bank Limited.
He said the clarification became necessary to disabuse the minds of many Nigerians, especially the workforce of NIPOST that the commercialisation, reform and modernisation of the organisation was outright privatisation.
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Aviation unions have expressed their displeasure with the Nigerian Airspace Management Agency’s decision to slash the salary of workers in the month of June.
The union warned that the failure to pay full salaries to NAMA’s workers would amount to gross embarrassment, not only to the aviation industry but to the whole country.
It advised NAMA against the decision, promising that there would be grave consequences.
The workers made their stance known in a joint letter signed by the General Secretary of Nigeria Union of Air Transport Employees, Ocheme Aba, and the secretaries of the Air Transport Services Senior Staff Association of Nigeria, Association of Nigerian Aviation Professionals and Amalgamated Union of Public Corporations, Civil Service Technical.
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The Federal Executive Council on Wednesday approved the N2.3tn stimulus plan proposed in the Nigeria Economic Sustainability Plan designed to support the nation’s economy in the face of the disruptions and challenges of the COVID-19 pandemic.
The plan was designed by a committee led by Vice-President, Yemi Osinbajo.
The approval was given at a virtual meeting of the council presided over by the President Muhammadu Buhari.
The Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed this to State House correspondents at the end of the meeting.
She said the total package presented was a sum of N2.3tn; N500bn of which was a stimulus package that was already provided for in the amended 2020 Appropriation Act.
She added that they were funds sourced from special accounts.
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The Nigerian National Petroleum Corporation announced a trading deficit of N9.53bn for March 2020, which stood out as the oil firm’s first operational loss since October 2018.
Findings showed that the last time the corporation posted a deficit was in October 2018, when the corporation recorded a cumulative loss of N12.66bn.
An analysis of various monthly operational reports of the corporation showed that in November and December 2018, the firm made trading surpluses of N2.06bn and N12.13bn respectively.
The oil firm’s surpluses persisted in January and February 2020 as it recorded N1.87bn and N3.95bn respectively.
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There was tension at the Nigerian National Petroleum Corporation on Wednesday, prompting the Petroleum and Natural Gas Senior Staff Association of Nigeria to threaten that it may embark on an industrial action soon.
It was gathered that the threat by the Group Executive Council of PENGASSAN at the NNPC followed plans by the oil firm’s management to carry out what it described as Internal Open Resource exercise.
The exercise would result in a situation where employees from lower levels would be moved to deputy managerial levels without passing through the mandatory qualifying exams.
PENGASSAN, in a letter addressed to the Group Managing Director, NNPC, Mele Kyari, advised the management of the oil firm to suspend the planned exercise.
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The International Monetary Fund has downgraded Nigeria’s 2020 growth projection, saying the economy will shrink by 5.4 per cent.
The IMF had in April 2020 projected that the country’s economy would contract by 3.4 per cent this year.
The IMF disclosed this in its overview of the World Economic Outlook for June, titled, A crisis like no other, an uncertain recovery, which was released on Wednesday.
It stated that Global growth is projected at –4.9 per cent in 2020, 1.9 percentage points below the April 2020 World Economic Outlook forecast.
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Ben and Jerry's have joined a growing list of firms pulling advertising from Facebook platforms throughout July.
It's part of the Stop Hate for Profit campaign, which calls on Facebook to have stricter measures against racist and hateful content.
Ben and Jerry's Tweeted that it will pause all paid advertising on Facebook and Instagram in the US.
Earlier this week outdoor brands The North Face, Patagonia and REI joined the campaign.
Ben and Jerry's said it is standing with the campaign and all those calling for Facebook to take stronger action to stop its platforms from being used to divide our nation, suppress voters, foment and fan the flames of racism and violence, and undermine our democracy.
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South Africa’s rand moves firmer early on Wednesday ahead of a much-awaited COVID-19 budget speech by Finance Minister Tito Mboweni, with a return of risk sentiment globally overshadowing investors jitters over the local economy.
At 0530 GMT, the rand was 0.17% firmer at 17.2100 per U.S. dollar versus an overnight close of 17.2400 in New York, matching advances by other emerging currencies as upbeat data in Europe bolstered hopes for a global economic recovery.
The special budget, brought forward by the treasury in response to the coronavirus outbreak and President Cyril Ramaphosa’s 500 billion rand ($29 billion) stimulus package, is set to show ballooning deficit and debt in Africa’s most advanced economy.
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Sudan government is pinning its hopes on a conference of potential donors in Berlin this week with the country’s economy at risk of freefall, hammered by inflation exceeding 100% and plagued by shortages of bread, fuel and medicine.
The crisis has been compounded by the coronavirus pandemic, which has diverted the resources of many donors.
New financing, however, has been held up by the need to settle decades of arrears to the International Monetary Fund (IMF) and Sudan’s listing, while under Bashir’s rule, by the United States as a state sponsor of terrorism.
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Ten of Zambia’s international bondholders on Tuesday said they have formed a creditor group ahead of what is expected to be a complex restructuring of its debts.
One of the world’s largest copper producers, Zambia owes money to four main types of creditor. It has $3 billion of Eurobonds outstanding and owes $2 billion to commercial banks, $2 billion to the IMF and World Bank and a further $3 billion to China.
The new bondholder committee did not name any of its 10 members but said they were all based in the United States or Europe and in aggregate hold approximately 35% of the total amount of Zambia’s outstanding Eurodollar bonds.
World Bank data estimates it added up to 45% of Zambia’s gross domestic product (GDP) last year, while its total debt stock was the equivalent to 89% of GDP.
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Zimbabwe’s energy regulator said the fuel prices will go up by as much as 152% after the government removed a fixed exchange rate in place since March.
Zimbabwe is already going through its worst economic crisis in a decade, marked by high inflation, food and medical shortages.
The regulator on Tuesday night announced that the price of petrol will go up to 71.62 Zimbabwe dollars (U.S. $1.25) per litre, from 28.96 Zimbabwe dollars previously. The diesel price will now be 62.77 Zimbabwe dollars from 24.93 Zimbabwe dollars.
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The annual inflation rate in South Africa fell to 3% in April of 2020 from 4.1% in March and slightly below market expectations of 3.1%, thus remaining comfortably within the Reserve Bank's target band of 3-6%. It was the lowest rate since June of 2005, amid a decrease in transport prices. There was also a slowdown in costs of housing & utilities, alcoholic beverages & tobacco clothing & footwear, recreation & culture and restaurants & hotels.
Consumer prices went down 0.5%, after rising 0.3% in March, and compared with market consensus of a 0.4% drop.
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South African lender African Bank swung to a half-year loss on Wednesday after taking a 550 million-rand ($31.89 million) charge for bad debts.
Controlled by the central bank after nearly collapsing under the weight of bad loans in 2014, the lender has struggled to turn itself around.
It reported a net loss after tax of 311 million rand for the six months to March 31, compared to a profit of 69 million rand a year earlier after been hit by the impact of the coronavirus
It said in its results statement the bank continues to maintain robust capital levels and surplus liquidity
African Bank’s bid to restore itself to viability was gaining some traction before the coronavirus hit, dealing a hefty blow to South Africa’s already shrinking economy and its lenders.
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A senior official on Tuesday said Investors have made firm commitments to put tens of billions of rand into projects that South Africa’s government hopes will drive an economic recovery from the coronavirus crisis.
South Africa is facing a steep economic contraction this year after the government imposed a strict lockdown to contain the virus, and a global economic slowdown has hurt demand for its exports.
Officials held an infrastructure symposium on Tuesday to showcase 276 projects to investors from sectors including energy, transport, housing, water and sanitation, agriculture and digital technologies that they hope will raise the potential economic growth rate and create jobs.
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The World Bank on Tuesday said it has approved a $500 million loan to help Morocco improve access to online finance and government services for businesses, particularly startups led by young people.
The Moroccan central bank expects government debt to surge to 75.3% of gross domestic product in 2020 from 65% last year. It forecasts the economy will contract by 5.2% this year compared with 2.5% last year.
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The Public Interest Accountability Committee, PIAC, has reiterated its call on Parliament to put some restrictions on the Ghana National Petroleum Corporation’s budget allocated to Corporate Social Investments.
The Annual Budget Funding Amount (ABFA) made available for GNPC in 2019 was pegged at GHC2.7 billion, out of which only GHC1.2 billion was utilized, leaving a balance of GHC1.5 billion unutilized.
According to PIAC’s report, for the third consecutive year, not only has a substantial proportion of the ABFA not been fully utilized, but GNPC has been unable to account for it.
PIAC says GNPC is in violation of the Petroleum Revenue Management Act, and the Ghana Infrastructure Investment Fund Act among others.
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President Muhammadu Buhari on Tuesday raised concerns over the planned single currency for the Economic Community of West African States.
He said the plan for the single currency, Eco, could be in serious jeopardy, unless member states complied with agreed processes of reaching the collective goal.
The Eco is the proposed name for the common currency that the West African Monetary Zone plans to introduce in the framework of ECOWAS.
According to a statement by his Special Adviser on Media and Publicity, Femi Adesina, the President delivered Nigeria’s position at a virtual extraordinary meeting of the Authority of Heads of State and Government of the West African Monetary Zone.
Buhari expressed concern over the decision of francophone countries that form the West African Economic and Monetary Union to replace the CFA Franc with Eco ahead of the rest of member states.
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The Federal Government plans to review the prices of gas consumed across the country.
The Minister of State for Petroleum Resources, Timipre Sylva, said the move would help deepen the use Liquefied Petroleum Gas, popularly called cooking gas, as well as Compressed Natural Gas.
The Federal Government targets to move motorists from the use of petrol to the use of CNG in their respective vehicles.
Sylva, according to a statement from his ministry on Tuesday, said the government would continue to push for the use of gas for cooking and in automobiles.
He disclosed the plan of government to review the country’s domestic gas pricing framework at the inauguration of a committee that would focus on gas sector review in Nigeria.
The minister said the committee would evaluate and review gas prices nationwide in order to align with the current economic realities.
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The International Monetary Fund said Nigeria’s major fiscal challenge has a very low revenue and not so much of its debt profile.
The low revenue, it explained, had led to low debt-servicing capacity and limited funding for critical sectors such as education, health and social welfare.
IMF’s Mission Chief and Senior Resident Representative for Nigeria, Jesmin Rahman, said these on Tuesday at a webinar hosted by the Nigerian Economic Summit Group, Fiscal Policy Roundtable and Tax Investment and Competitiveness Policy Commission.
The IMF said it considered Nigeria’s public debt stock average at 29 per cent of its Gross Domestic Product as of the end of 2019, when compared to emerging and developing market average, which is about 53 per cent of GDP.
It noted that the 29 per cent includes not just government’s debt, but takes into account overall public sector liabilities, such as Central Bank of Nigeria’s overdraft, Asset Management Corporation of Nigeria’s debt and other things.
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The House of Representatives has summoned the Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, and the management of the Standards Organisation of Nigeria over failure by the SON to audit its accounts for six years.
The House Committee on Public Accounts particularly summoned the minister on Tuesday over the alleged failure by the SON to answer a series of invitations sent to its management.
The committee, therefore, asked Adebayo and the management of the Organisation to appear before it on Friday unfailingly.
According to the lawmakers, the summons was based on information from the Office of the Auditor-General of the Federation that the SON failed to render accounts from 2014 to 2019.
The Chairman of the committee, Mr Wole Oke, stated that the SON was being given an opportunity to answer audit queries and defend its non-rendition of accounts for the financial years under review.
Oke ruled that those summoned must appear before the committee on Friday or it would be forced to invoke the relevant sections of the law against them.
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Ford Motor Co.’s new Ranger truck topped a ranking of vehicles that contribute most to the U.S. economy, while three Tesla Inc. models placed in the top nine.
The two companies’ brands were absent from Cars.com’s top 10 last year but stood out in the 2020 version of automotive site’s “American-Made Index.” Ford’s pickup and Tesla’s Model S, X and 3 all made their debut in the annual study.
The senior editor of Cars.com, Kelsey Mays, said Tesla’s participation is one of the major developments this year.
She said the electric-car maker fared well because it uses a lot of U.S.-sourced drivetrain components, and its U.S. vehicle assembly employs many workers.
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China has successfully put into orbit the final satellite in its BeiDou-3 navigation system, further advancing the country as a major power in space.
Tuesday's launch will allow China to no longer rely on the US government-owned Global Positioning System (GPS).
The $10bn (£8bn) network is made up of 35 satellites and provides global navigation coverage.
It comes as tensions between Beijing and Washington are increasing over the coronavirus, trade and Hong Kong.
The third version of the Beidou Navigation Satellite System (BDS) offers an alternative to Russia's GLONASS and the European Galileo systems, as well as America's GPS.
Future plans promise to support a more accessible and integrated system scheduled to come online by 2035 with BDS at its core.
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The finance minister of Rwanda on Monday said the country’s economy is expected to grow 2% in 2020, 6.3% in 2021 and 8% in 2022, as he presented the budget to parliament.
Uzziel Ndagijimana said tourism revenues had decreased by 35% so far, while foreign direct investment would decrease by 62% because of the impact of COVID-19 on trade.
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South Africa’s pharmaceutical giant Aspen Pharmacare Holdings Ltd on Monday said the company had sufficient local capacity to produce injections to meet any demand surge for dexamethasone.
The 60-year-old drug dexamethasone has been found to be able to save the lives of COVID-19 patients, scientists at University of Oxford said last week, calling the discovery a major breakthrough.
Aspen, South Africa’s biggest supplier of drugs with a market share of 22% in sub-Saharan Africa, manufactures both the injectable and tablet forms of the drug, mainly used for treatment of tumours, asthma and other respiratory ailments.
Group Chief Executive of Aspen, Stephen Saad said Aspen fortunately has necessary capacity to ramp up considerably.
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A Reuters poll found that South Africa’s consolidated budget deficit is expected to widen markedly this year, with its National Treasury struggling to squeeze it back to levels it anticipated before the coronavirus pandemic disrupted economic activity.
The poll, taken over the past week, showed a median of 21 economists expect the government budget deficit for this year to widen to a record 14% of gross domestic product, from an official estimate of 6.3% of GDP in the last financial year.
Finance Minister Tito Mboweni is due to deliver an emergency budget on Wednesday in response to the COVID-19 crisis.
Standard Bank’s Elna Moolman said the focus in this budget will be partly on the magnitude of the deficits and, in turn, funding requirement, and perhaps even more importantly whether government can credibly project debt stabilisation in the medium-term.
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South African rand edged up on Tuesday amid a global recovery of risk-sensitive currencies after U.S. President Donald Trump said the U.S.-China trade pact was fully intact, clarifying earlier confusing statements from the White House about the deal.
At 0600 GMT, the rand was 0.27% firmer at 17.2975 per dollar closed at 17.3450 in New York. In the previous session, the local unit was weighed down by investor fears about a second wave of COVID-19 infections globally as cases in the United States and Brazil spiked.
Overnight statements from the Trump administration that the trade deal with China was still on track lifted risk appetite roiled by simmering tensions between the two superpowers that has soured in recent months.
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South Africa’s City Lodge Hotels Ltd on Monday said the hotel chain aimed to raise up to 1.2 billion rand ($69.3 million) via a rights issue to stave off a cash crunch.
The money raised will help pay debt, meet other obligations and generate working capital to plug a cash flow shortfall.
South Africa went into a two-month lockdown in March to curb the spread of coronavirus, shutting beaches and game reserves, the country’s main tourist attractions, and dealing a blow to the hotel industry.
City Lodge said the rights issue would create debt capacity and a flexible capital structure to position the company for future growth.
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South Africa’s Edcon on Monday said that more that 75% of its creditors have approved a proposed rescue plan that will see the retailer sold in parts or whole after it entered a form of bankruptcy protection in April.
The approval paves the way for the administrators to finalise the sale process by the end of June to allow time for supplier negotiations and for summer stock to be purchased.
About 15 parties have shown interest in the sale, with the selection of the offer expected in early July. Edcon entered business rescue after sales were hit by the COVID-19 pandemic.
Creditors voted during a virtual meeting that started on Monday afternoon.
The business rescue practitioners, Piers Marsden and Lance Schapiro of Matuson Associates, said they will proceed with implementing the adopted Business Rescue Plan, keeping all stakeholders updated as the plan progresses.
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The Chamber of Petroleum Consumers, COPEC, has warned that fuel prices at the pumps may go above five Ghana cedis in a few days if measures are not put in place to stabilize the cedi against the dollar.
COPEC says the continuous depreciation of the cedi increased the price of a liter of petrol by 65 pesewas.
A sharp drop in the price of fuel on the global market also saw the price of petrol hitting 4 cedis due to a trade war between Russia and Saudi Arabia, coupled with the impact of the COVID-19 pandemic.
Executive Director of COPEC, Duncan Amoah, argues that even though the easing of restrictions globally may have contributed to the prices of fuel going up on the global stage due to increased demand, the cedi is a major factor in the recent spike in prices.
According COPEC, there is the need to put in place measures to arrest the fall of the cedi to stabilize prices of fuel at the pumps since Ghana is a net importer of oil.
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The Institute of Energy Security, IES, has advised government to benchmark expected revenue from petroleum receipts around 35 dollars per barrel.
The 2020 national budget pegged petroleum prices for export at 60 dollars per barrel. However, the outbreak of COVID-19 caused prices of crude oil on the world market to drop to as low as 20 dollars per barrel.
According to IES, the presentation of the Mid-Year Budget in July, should provide an opportunity for the Finance Minister, Ken Ofori-Atta, to adjust the figures downwards.
The Executive Director of IES, Nana Amoasi VII (the seventh), while speaking to Citi Business News said the Finance Minister must be realistic in making projections not to throw the budget out of gear.
The Finance Minister will be compelled to review the prices downward due to the outbreak of COVID-19.
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The Investment and Securities Tribunal has called for the development of the capacities of litigants and counsel to effectively address capital market technicalities.
It said this had become vital as the lack of knowledge had made capital market litigants lose many cases.
The Acting Chairman, IST, Jude Udunni, however, told journalists in Abuja that his agency had been trying to develop the capacity of its workforce in order to address this lapse in the industry.
He said capacity of litigants and counsel need to be developed because of the technicalities of the capital market. The lack of knowledge has led to litigants losing cases.
According to him, the agency had organised three sensitisation programmes since 2017, despite not being the duty of the tribunal to build capacity of litigants and counsel.
The IST boss further noted that the tribunal was in a fix on how to proceed with cases that were delayed as a result of the lockdown occasioned by outbreak of COVID-19.
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The National Economic Council has said there is an urgent need for technical and financial audits of the electricity distribution companies in the country before interventions by Siemens, World Bank and others.
The Federal Government and Siemens AG signed a Letter of Agreement on the Nigerian Electrification Roadmap in July 2019, with the aim of ramping up electricity generation in the country to 25,000 megawatts in six years.
NEC’s Ad-Hoc Committee on Ownership Review and Analysis of Discos and Electricity Sector Reform, in its report said the power sector had underperformed due to critical challenges.
It said the challenges included non-implementation of cost-reflective tariffs, misalignment between the investors and the Bureau of Public Enterprises on required investment in Discos, under-investment in infrastructure and poor implementation of rules/contracts.
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Virgin Atlantic has announced its intention to resume flights from Lagos to London Heathrow from August 24, 2020.
According to a statement by the airline, the international flight will be operated on its new A350-1000 aircraft and will provide connections to a range of US destinations.
In addition, the airline promised to resume flying to 16 additional destinations around the world.
The Chief Commercial Officer of Virgin Atlantic, Juha Jarvinen, said as countries around the world begin to relax travel restrictions, we look forward to welcoming our customers back onboard and flying them safely to many destinations across our network.
He said from 20th July flight will resume services to New York, Los Angeles and Hong Kong; then from 1st August onwards, passenger flying to 17 additional destinations around the world including Lagos, Tel Aviv, Atlanta, Mumbai and Las Vegas.
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The Federal Government on Monday said it would carry out a simulation trial of domestic flight operations at the Murtala Muhammed Airport in Lagos on Saturday as it prepares to reopen the country’s airspace to commercial flights.
It also assured Nigerians that airfares would not be outrageously high as speculated by many, based on plans to begin the social distancing rule onboard flights.
This came as the Nigerian Civil Aviation Authority declared that it would submit the aviation restart plan to the Presidential Task Force on COVID-19 on Wednesday.
The Minister of Aviation, Hadi Sirika, while speaking at Monday’s briefing of the PTF in Abuja, doused concerns about a possible hike in airfares when commercial flights resume.
He added that they are doing everything to ensure that tickets’ prices are not skyrocketed. They may be different but affordable to passengers.
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European stocks moved into positive territory after a negative start on Monday, as investors focus on prospects of a quick economic recovery despite a resurgence in coronavirus cases in Germany, the US and Australia. Robert Koch Institute said that the covid-19 reproduction rate in Germany jumped to 2.88 Sunday, up from 1.79 a day earlier, a rate showing infections are rising above the level needed to contain the disease over the longer term. Meantime, the WHO reported the largest single-day increase in global infections, with more than 183 thousand cases in a 24-hour period.
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The dollar index depreciated to 97.3 on Monday from a two-week high of 97.6 on Friday as investors try to shrug off fears of a second wave of coronavirus and its consequences for the global economic recovery. The Australian dollar was one of the best performing major currencies against the dollar after the central bank governor said the impact of the coronavirus pandemic would not be as bad as initially taught. The British pound also strengthened amid prospects of a Brexit trade agreement.
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At the just concluded Zimvest Economy Conversation, looking at The Economic Landscape and Investor Preferences in Post-pandemic Africa, The Keynote speaker Mr Bola Onadele, CEO FMDQ Group, Mr Bola indicated that Covid-19 Pandemic Paid-off For Ghana and South Africa as Gold Price soars, while Other African Economies Struggle to grasp the rapid Impact of the Pandemic. Mr Bola Onabole further spoke to the African markets in terms of equity and fixed income as impacted by covid-19 pandemic. Less liquid assets suffered more, volatility level is reported to be comparable to the 2008 level. Equity market capitalization in total lost about $17 trillion in just 52 days. Remittances from tourism industry are drying up very fast. Massive sell-off were witnessed in Nairobi and Tanzania among other negative trends. Post Pandemic, Nigeria should not wait but position herself for the next waves of opportunities in the financial market.
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Lufthansa shares slumped 5.7% on Monday morning after CEO Carsten Spohr said the company would seek to avoid a grounding and insolvency in a battle with the airline’s biggest shareholder over the terms of a 9-billion-euro bailout.
Lufthansa has been hard hit by what is expected to be a protracted travel slump because of the COVID-19 pandemic, forcing it to seek a state rescue.
Billionaire shareholder Heinz Hermann Thiele will meet the economy minister on Monday to discuss his objections to the state-backed bailout
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According to influential economist Jeffrey Sachs, the deepening cold war between the US and China will be a bigger worry for the world than coronavirus.
He told the BBC that the world is headed for a period of massive disruption without any leadership in the aftermath of the pandemic.
He warned that the divide between the two superpowers will exacerbate this.
The Columbia University professor blamed the US administration for the hostilities between the two countries.
He said in an interview with BBC's Asia Business Report that the US is a force for division, not for cooperation.
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Zambia's finance minister, Chileshe Kandeta, says the country is looking for financial advisors to help ensure the sustainability of its debt and manage any loans maturing from next year and beyond.
The minister told Reuters that the government had issued a request for proposals to provide advisory services on liability management and debt. Kandeta said the request for proposals was issued as part of Zambia’s asset liability management exercise, including project re-scoping and refinancing of Zambia’s Eurobonds.
He said the government had no intention of unilaterally restructuring its debt without consulting creditors and would respect agreements.
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The international oil benchmark, Brent crude, plunged to its cheapest in 18 years on Monday as it traded around $22 per barrel.
This comes amid growing fears that the global coronavirus shutdown could last months and demand for fuel could decline further.
Brent crude, against which Nigeria’s oil is priced, fell by $2.83 to $22.10 per barrel as of 5:05pm Nigerian time on Monday. It earlier tumbled to as low as $21.76 per barrel, its lowest since March 2002, according to Reuters.
The sharp drop in crude oil prices following the spread of the coronavirus pandemic has forced the Federal Government to propose the reduction of the oil price benchmark for the 2020 budget to $30 from $57.
Despite the significant reduction in its official selling prices aimed at wooing buyers, Nigeria is still struggling to sell its crude oil as Indian refiners are cutting back on output while European plants are considering closures.
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Nigerian senators have agreed to contribute 50 percent of their salaries in efforts to curb the spread and treatment of coronavirus in the country. The Senate Committee Vice Chairman on Media and Public Affairs, Senator Godiya Akwashiki, disclosed this in a statement on Monday.
Senator Akwashiki said the monthly contribution from the Upper Legislative Chamber will be sustained until Nigeria is declared safe from effects of the deadly disease.
The lawmaker said the Senate is willing and ready to do whatever is required of the Legislature for the effectiveness of the measures presently in place, or that may be required in the future to win the fight against COVID-19. He commended all agencies of the Federal and State governments for working in collaboration to protect public health across the country.
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The Central Bank of Nigeria has granted a two-week market holiday to the Bureau De Change operators. In a statement, President of the Association of Bureau De Change Operators, Aminu Gwadabe, said the grant comes into effect from Friday, March 27.
According to him, it follows a request sent to the apex bank to grant the association market holidays given the ongoing challenges faced in local and global economies due to the impact of the COVID -19 pandemic. He advised the public not to go into panic buying, hoarding and patronising street traders as the apex bank has enough reserves to sustain supplies when the BDCs return to full operations.
Meanwhile, the naira eased to a new low of 385 naira, 39 cents per dollar on the over-the-counter spot market on Friday. This comes as importers scramble for dollars to meet existing obligations.
The Nigerian curerncy has been hitting new lows this week on the spot market after the central bank last week devalued the official exchange rate.
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Meanwhile, Lagos state government says six more people have recovered from coronavirus in Nigeria. The State Commissioner for Health, Professor Akin Abayomi, on Thursday, said the persons will be discharged from the isolation centre in the State on Friday.
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The Central Bank of Nigeria’s Manufacturing Purchasing Managers Index (PMI) stood at 51.1 index points in March, indicating expansion in the manufacturing sector for the 36th consecutive month.
The index grew at a slower rate compared to February.
According to the report, 7 out of 14 sectors surveyed, recorded growth.
The report also showed that at 54.4 points, the production level index for the manufacturing sector grew for the 36th consecutive month in March.
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South African foreign direct investment in 2019, dipped compared to the previous year. This is according to figures released on Tuesday by the South African Reserve Bank. The regulator said inflows fell to 66.8 billion rand in 2019 from 72.1 billion rand in 2018.
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The Nigeria Centre for Disease Control says the biggest source of risk faced by the nation is people returning to Nigeria. NCDC's Director-General, Chikwe Ihekweazu, disclosed this on Monday, noting that the agency is following up with returning travellers in self-isolation as part of preventive measures by the Federal Government.
The NCDC boss called on the public to comply with the federal government's directives to self-isolate after returning from high-risk countries.”
He explained that the health agency has moved from giving a daily briefing on the disease to a real-time release of information.
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The number of people who have died as a result of the coronavirus pandemic now exceeds 10,000, according to an AFP tally based on official data.
In total, 10,080 deaths have been reported, most of them in Europe (4,932) and Asia (3,431). Italy is the worst affected country with 3,405 fatalities, followed by China with 3,248, the initial epicentre of the outbreak, and Iran with 1,433.
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The Presidential Advisory Council has warned about dire economic consequences for Nigeria if the coronavirus is not contained as quickly as possible. The council, chaired by Professor Doyin Salami, met with President Muhammadu Buhari at the State House, Abuja.
It said one of the immediate consequences, as shown in the crash of crude oil prices, was slower economic growth, adding that confidence in the economy would also be eroded.
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The World Health Organization (WHO) has described the coronavirus pandemic as the "defining global health crisis of our time", and urged countries to test all suspected cases of COVID-19.
Malaysia recorded its first death from the coronavirus while the United States and countries across Europe, Asia and the Middle East have closed schools, entertainment venues and all but essential services.
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COVID-19 has killed a member of the clerical body that appoints the supreme leader, according to Iranian state media, the latest official in the country to die of the highly infectious disease caused by the new coronavirus.
Ayatollah Hashem BathayiGolpayegani, 78, died two days after testing positive for the new coronavirus and being hospitalized.
Golpayegani represented Tehran in the assembly of experts, an 88-strong body of Muslim scholars that appoints and monitors Iran's supreme leader.
At least 12 Iranian politicians and officials, both sitting and former, have now died of the illness, and 13 more have been infected and are either in quarantine or being treated.
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Italy's deputy economy minister, Laura Castelli said Mortgage payments will be suspended across Italy as part of measures to soften the economic blow of coronavirus on households,
Italy's banking lobby group ABI said lenders would offer debt holidays to small firms and families.
Suspending debt payments is not unheard of in Italy. Some small businesses and families were given time off during the financial crisis before having to repay.
Italy has extended its emergency coronavirus measures, which include travel restrictions and a ban on public gatherings, to the entire country.
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THE top five banks, otherwise known as Tier-1 banks (T-1 banks) will record 50 percent decline in loan growth rate in 2020. Analysts see a slow down to single from double digit growth recorded in 2019.
The banks are Access Bank, Guaranty Trust Bank, GTB; First Bank of Nigeria Limited, FBN; United Bank for Africa Plc, UBA; and Zenith Bank.
The financial statement of the five banks shows that their combined loans and advances rose to N10.65 trillion in Nigeria from N8.57 trillion 2018, translating to loan growth of 24.3%.
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Fabia Ogunmekan is the Executive Secretary of Women in Successful Careers (WISCAR). She is a Lawyer and Corporate Executive with 20 years’ experience working in the fields of law and development across Corporate Organizations and the Nonprofit sector. She holds an MSc in Nonprofit Management from the Cass Business School, City University London, BL from the Nigerian Law School and LLB from the University College London. She has attended a number of capacity building courses in the areas of Law, Leadership, Corporate Social Responsibility and Management and is an Alumnus of the Lagos Business School's Senior Management Programme, SMP 36.
She has worked in Legal Practice as an Associate with the law firm of The Law Union in Lagos, As a Corporate/ Admin Secretary Pronatura Nigeria a sustainable development NGO in Port Harcourt focused on empowering communities in the Niger Delta towards achieving sustainable livelihoods, with Hygeia Group an integrated healthcare services company in Lagos where she spent 8 successful years in different management and executive roles, culminating in her role as Head of Group Legal and Regulatory Compliance; the Tony Elumelu Foundation as Alumni Engagement Manager where she was responsible for engagement programs and collaborative partnership opportunities for the Alumni network. She has consulted and is a facilitator at the Lagos Business School’s Nonprofit Leadership and Management Programme. In her spare time she volunteers as a mentor. She is a 2018 Rise Up Leader and is passionate about the pursuit of development in Africa and the role of women in enabling that happen.
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Innovation in Africa
Here, we intend to look at the current innovation blocks and how incorporating the concepts of viability, sustainability, and scalability into the entire journey of innovation, from ideation to actualization, we can begin to leave a greater impact onto communities across Africa.
What innovation blocks are running in Africa?
For Africa there are three critical players and funnels that form the current innovation ecosystem:
1.Institutions of higher learning - universities, colleges, etc.
2.Incubators, co-working spaces, and hubs – the home of startups
3.Local enterprises – successful startups in the ecosystem
The funnels of innovation
At the very core of innovation lies ideas and methodologies that nurture and provide a framework for the creative process to take place. Institutions of higher learning provide this environment that helps build up the capacity of an ecosystem to create new solutions for its pains.
Institutions of Higher Learning
Innovation is heavily built around the education systems and supported by culture (both existing and nurtured). Here, ideas are prevalent and the support systems are present to make these ideas come to light. These institutions provide a platform where the private sector can synchronize and deliver industry-grade training to students.
Developer communities thrive in educational institutions that encourages industry level training and learning that helps incentivize innovative ideas. Training based initiatives to training young people, and more recently teens, looking to gain skills or pursue a career in technology are increasing. Moreover, funding options for students are increasing with organizations looking to enable the next great startups, not only from Africa but from across the world.
Next steps for institutions of higher learning
However, despite these numerous channels of opportunity, these institutions need to do more to spur viable, sustainable and scalable innovation across the board. Such steps include:
1.Providing an ecosystem of technology aware investors who can financially support innovative ideas coming out of these institutions.
2.Strategic partnerships with the industry working together creating synergy between the two parties and insight on both ends
3.Updated technical knowledge through training facilitated by the enterprises in the industry ensuring that academic institutions are training for industry needs
4.Encouraging multidisciplinary collaboration with regards to building solutions. Healthcare innovation with input from healthcare experts allows for more robust solutions.
5.Setting the social, cultural and intellectual tone of their local areas and ecosystems – having deep roots in the community they’re in, academic institutions can play a critical role in creating more STEM-based cultures where children are encouraged to take on the sciences.
6.Contributions to government and industrial decision making. Once academic institutions are on the table, it’s much easier to push for innovation as an agenda.
Incubators & Hubs
The training provided in the universities and colleges goes a long way in creating the foundation of co-working spaces, hubs, and incubators. Hubs or co-working spaces thrive on young entrepreneurs who are interested in building solutions for their communities. Currently, according to a 2018 GSMA report, there is 442 number of hubs located in major cities across Africa.
From these hubs, come some of the most exciting ideas and business models that are unparalleled anywhere else in the world. MPESA is the brainchild of a campus undergraduate while ideas such as Tanda and Mellowcab are based in co-working spaces.
There are 6,300+ startups currently running and operational in Africa currently according to Angel List and...
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In her words, Women are ready and willing to bend over backward to accommodate and help other women, this is been the story of WISCA, says the founder Amina Oyagbola.
Amina Oyagbola is a Philanthropist and Global Business Leader in Lagos, Nigeria. She is also the founder of WISCAR (Women in Successful Careers). WISCA runs a mentorship program for young female professionals in Nigeria. The program matches the mentor with the mentee after the mentee has articulated what her career aspirations are and has also chosen to pursue a career as a corporate professional. According to Amina, she has been on this journey for 11 years and they have proven that the methodology works and now they are working on scaling the program globally. Mentoring 37 Mentees this year and hopefully will be doubling the number in 2021.
to make a donation, please visit www.wisca.ng
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Visiting Nigeria and the City of Lagos for the first time, Gabriel Attal, the Minister attached to the French Ministry of National Education and Youth branched at Africa Business Radio Studio and had a chat with our CEO about Entrepreneurship and African Youth. In his words, "Young people are currently very aspirational and they want to change the world"
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Babajide Asegbeloyin Speaks on What FCMB is Doing on Agric-Tech and he also elaborated on the current reality that the future will be digitally driven.
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There are few millennials in Africa that are adopting out-of-the-box thinking in tech and tech solutions. Dolapo as one of the speakers and delegate at the just concluded Art of Tech 1.0 share some insights.
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If you can think of your head as a garden with your hair as the flowers and your body as the soil, this podcast will change your life. Whether or not you believe in the impact of climate upon the planet, Earth, you cannot deny the impact of weather conditions such as harmattan on your hair, skin, and scalp. Whatever good a psychologist may do to help you gain mental balance, a trichologist will do to beautify your hair, skin, and scalp? Caring properly for your hair will make you healthy and proper nutrition betters your whole being. This podcast offers you:
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Practical knowledge about the African hair vis-a-vis its texture and natural uniqueness.
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Why and how is African hair products seem to be rising in production and sale?
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The power of Natural hair and how to take care of our hair (Natural/Relaxed)
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Resources and investment opportunities in the hair industry and the position of Africa's Nigeria.
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The educative benefit of seeing a trichologist and care of the hair during different seasons.
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What should you expect from your trichologist?
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As reported by Business Day Nigeria, Oil and gas companies in Nigeria are now required to obtain the approval of the Minister of Petroleum Resources, through the Department of Petroleum Resources (DPR), before they can remove any staff from their employment.
This is according to new guidelines approved by President Muhammadu Buhari, who doubles as Minister of Petroleum Resources. Failure to comply with this directive attracts a penalty of $250,000. In addition, any permit, license or lease granted to that company may be withdrawn or canceled by the DPR.
In letters issued by the DPR to oil companies in Nigeria, the agency informed them that Regulation 60b of the Petroleum (Drilling and Production) Amendment Regulations 2019 was recently reviewed and signed into law by the president of the Federal Republic of Nigeria.
Read More on BusinessDay
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On this episode, Host God’sBaby sits down with Legal Practitioners Israel Aye (Founder of Mylaw.ng) and Tosin Amusan (Co-Founder Mylaw.ng) to discuss IDENTIFYING & PROTECTING INTELLECTUAL PROPERTY RIGHTS IN EVERY BUSINESS
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Copywriter, Tiffany Markman takes her reliable insight into the show Business Connect, as she helps unpack the knowledge of Business Communication into the real world of everyday business. Tiffany, who has spent 10 hours daily for the last 13 years, writing industries including banking, insurance, retail, corporate services, law, and construction, which was impacted on the show.
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P&ID paid £250,000 as running cost by the Nigerian Government; Nigeria's Minister of Aviation, says N10 billion would be required to get the Enugu airport running again; Senegal to host the World Water Forum in Dakar in March 2021; US President, Donald Trump says US-China talks are going well.
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Tech Your Passion" Series is a knowledge-sharing program that allows entrepreneurs and professionals within a certain sector to learn about the latest technologies used by leaders within that sector and how they can use them too to boost their businesses.
This 1st edition is tagged "Tech Your Finances" - focused on the finance/fin-tech sector, and will see participants learn how they can use to grow their savings.
The event is scheduled as follows:
Date: October 18th, 2019
Time: 4:00 PM - 6:00 PM
Venue: Leadspace Yaba: 70, Olonode Street, Alagomeji, Yaba, Lagos.
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Nigerian banks gave only 4.20% of their total loans to the agricultural sector in the second quarter 2019; The proposed Bakassi Deep Seaport, to be located to gulp between $1.7 billion and $2 billion; South African stocks market falls as foreigners offload stocks; Malaysian authorities impose USD 100 million fines on 80 entities for in the midst of corruption scandal.
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The second-largest tour operator in Morocco and Europe was left with unpaid bills with hotel operators bearing the burden, feeling the void left by Thomas Cook.
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Investors lost billions of naira on the Nigerian stock exchange during the trading session on Wednesday 2nd Oct. 2019 as Nigerian debt stock hits 252.2% compared to about 10 years ago. Dimmer Global Economic Growth Outlook Further Pressured Emerging Market Equities; JSE Follows Asian Equities Slipped into 1-Month Low; Oil Market Opens Trading With a Mixed Sentiment.
The United States of America is gearing up for another tariff war, not with a country this time around but with a continent, as World Trade organization gives a go-ahead for Trump's Administration to Slap EU with a $7.5 billion in the tariff.
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NCC issues warning to telecoms companies to upgrade their service, or face sanctions; Spain to invest in Nigeria's movie industry; South Africa seeks for lower electricity cost as part of a bid to rescue Eskom; New IMF boss to help countries minimize their risk of economic crises.
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In Nigeria, the cashless policy was implemented in 2012 by the Central Bank of Nigeria CBN, to checkmate the circulation of excess cash in the country. It prescribed a cash handling charges of 3% on daily withdrawal above five hundred thousand Naira for individuals and 5% deduction on three million Naira for corporate bodies. The policy was first put to use on January 1, 2012, in Lagos State. The service charges were withheld until 30 March of the same year to allow for seamless migration from manual to electronic devices. The second phase commenced in Rivers, Anambra, Abia, Kano State, Ogun, and the Federal Capital Territory on 1 July
2013, while the program nationwide started a year later on 31 July 2014. The cashless policy has been widely embraced by people, but the criticisms it has received is on the deductions to be made the Central Bank on all transactions. This criticism is not only from the masses, but even government officials like the members of the house of representatives, who during a sitting, asked the apex bank to suspend the implementation of the cashless policy, which took effect from Wednesday, 18th September , 2019, till further notice, after due consultation with relevant stakeholders. Chairman of the House Committee on Media and Public Affairs, Mr. Benjamin Kalu said the House was against implementation of the policy as it would cause more hardships for Nigerians, and the house, asked the House Committee on Banking and Currency to meet with the CBN to “ ascertain the propriety, relevance and the actual need for the implementation of that aspect of the cashless policy at this time, considering the prevailing economic situation of the country and to report back to the House within four weeks . ” Asides from the fact that it has made cash transactions easier, and faster, it has also made cybercrimes, and robberies easier, with the emptying of peoples' accounts after they were dispossessed of their ATMs, and also the scamming of foreigners by fraudsters commonly known as Yahoo guys. Experts have also picked holes in the CBN's cashless policy, as some experts say said that the charges were unnecessary as they added to the burden that customers already bore, which include deductions for card maintenance fee, Automated Teller Machine withdrawal charge, stamp duty, Commission on Turnover and SMS alert from their accounts. The Registrar, Chartered Institute of Finance and Control of Nigeria, Mr. Godwin Eohoi, called for a downward review of the charges to 0.5 percent for individuals and 1.5 percent for corporate organizations. It is hoped that the Central Bank of Nigeria will channel the cashless policy into its an original function of easing the lives of the populace, also put in place measures that will authenticate and formalize the transactions that are done to check the menace of Advanced Fee Fraud, which is giving Nigeria a bad reputation on the global scene. The cashless policy will also help to curb corruption, and the flow of money which results in an increase of economic growth, and reduce the expenditure incurred in printing and transportation of currency notes.
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The news about the new policy by the Advertising Practioner Council of Nigeria which require APCON to vets advertisements to conform with the standards of best practice and in accordance with the provisions of the Code of Advertising Practice, and the Laws of the Federation. This policy mandates all advertisements to be submitted for pre-exposure vetting and approval. Organizations and persons wishing to place advertisements in any media must first present the concept(s) for pre-exposure vetting and approval. This policy has attracted a lot of backlashes on social media and we spoke to someone close to the matter at APCON.
Ishaya Ibrahim works directly with Head North-Central Zone of APCON, Ishaya appears not to be sure whether to agree with this proposed directive or not. He sheld more lights on the pros and cons of the proposed directive.
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Subomi joins us in the studio on Breakfast connect, she chats to Godsbaby to discuss on the understanding of what being financially literate means for working professionals. According to Subomi, the prelude to investing is that you have a solid source of income, making money becomes very very important.
Subomi Plumptre heads the Corporate Practice of Alder Consulting, Nigeria’s leading creative intelligence firm. At Alder, she consults on idea development, business strategy, social media strategy, and brand development. She is a Hootsuite Certified Professional.
With an academic background in analytical reasoning, scientific investigation and practical research, Subomi has been a team lead for Alder on a number of diverse Government and Corporate projects including the Educational Sector Transformation Plan of the Federal Ministry of Education, the Reform Programme of the Federal Ministry of Foreign Affairs and the Restructuring of the Ministry of Solid Minerals Development.
She was a strategy team lead for branding programs for the British Council, First Bank, and Guaranty Trust Bank.
Subomi has a wide range of interests. She is an avid investor and was named one of 20 African Women to Watch in Blockchain by Cryptocoin News. She is a Director at Volition Capital, a firm with significant blockchain investments. In recognition of her writings on investing, she was appointed a retail wealth representative for Stanbic IBTC and Meristem Securities.
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On today's Market analysis, Soji Akinlabi focuses on the fundamental basis of the widespread investors' optimism across the different market. The attack on Saudi's Aramco oil's refineries, the largest refineries in the world, is set to be the major driver of the oil market this week and there's a shared sentiment about this globally. Investors are still excited about the ECB's rate cut by 10 basis point as the outcome of last Thursday's meeting and resumption of its quantitative easing program. Last, another fundamental factor to consider this week is the renewed political will between the US and China to make a deal and put an end to the escalating trade wars, this has also been demonstrated by the shown gestures from both parties towards the end of last week through the suspension of the next phase of tariff wars.
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If you live on the shores of Africa either as a native or a visitor, you already have an opinion about Africa and Africans. Your opinions are possibly influenced by the observable living standards of many African citizens, but you may have reviewed the political character of some African leaders or you simply echo the opinions of Non-Africans sources who may or may not be fact-based. The world is a market of opinions and today, it is about the Late Ex-President of Zimbabwe, Robert Gabriel Mugabe who from an economic point of view, left a sweet-bitter taste in the mouth of Zimbabweans. Idolized as a hero in his early years of leadership and criticized as a villain in his later years of rulership, Robert Mugabe queues with the greatest freedom fighters and also with the meanest dictators of the world. From being the son of a carpenter, Robert studied under British teachers, moved to Ghana where he also worked as a teacher before he became a nationalist and was jailed for ten years without a trial for opposing white-rule. Speaking at the 36th African Union Summit in Addis Ababa, Ethiopia,...
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The Nigeria Customs Services Deputy Controller general and PRO in an exclusive interview on Africa Business Radio's Breakfast Show disclose that Seme is not the only porous border in Nigeria, there are more than 25 other unapproved birders across the Nation. Mr. Joseph Attah mentioned that solving the problem of smuggling in Nigeria goes beyond shutting-down just the Seme border but it is a decision to protect the nation’s economy. He made this known during an interview this morning on Africa Business Radio's breakfast show, First Run. TAKE A LISTEN... Joseph Attah urged Nigerians and her Africans neighbors to consider the border closure, a move towards protecting the nation from criminal elements, stressing that unapproved borders across 25 states in Nigeria will be closed.
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Debt survey shows that 10 Nigerian states owe N2.74 trillion; Prices of Frozen foods, rice, and tomatoes increase in the Lagos market as border closure continues; South Africa about to experience an industrial action; Argentina to restrict foreign currency purchase due to a sharp drop in the peso.
With U.S. markets shut for a holiday on Monday, though, investors remained on the sidelines while
looking to see what expansionary policies the European Central Bank and the U.S. Federal Reserve could
unveil this month.
After one week of positive performance, the stock market began its depreciation last week following
losses in bellwethers stocks such as Seplat Petroleum Development Plc. Dangote Cement Plc, Guaranty
Trust Bank Plc. The market had chalked up 3.2 per cent the previous week after a long bearish period.
The Argentine government will henceforth restrict foreign currency purchases following a sharp drop in
the value of the peso. Firms will have to seek the central bank's permission to sell pesos to buy foreign
currency and to make transfers abroad. Argentina is also seeking to defer debt payments to the
International Monetary Fund (IMF) to deal with the crisis. In an official bulletin issued on Sunday, the
government said that it was necessary to adopt "a series of extraordinary measures to ensure the
normal functioning of the economy, to sustain the level of activity and employment and protect the
consumers".
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The Spark Ng is having its magazine release launch on the 30th of August themed #WorkIt. It's an intimate gathering where there will be discussions surrounding how to stay fit in life and in business Attendees also get to network, and connect with like-minded people in the industry. Let's discuss staying fit and the business of it!
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The Mandela Institute of Development Studies Programme Director, Ian Mashingaidze and the Graca Machel trust Nutrition Programme Manager Rachel Toku-Appiah set the stage for the Regional High Policy Dialogue on Transforming Agriculture held in Maputo Mozambique from the 19th to the 23rd of November. They give us insight into why Agriculture & Nutrition is an integral conversation every African should take part in and why this dialogue is necessary to the development of a sector that provides so much opportunity for economic empowerment for Africa’s large youth population. Join the conversation on social media using the hashtag #TransformingAgriculture and listen to the live broadcast on Africa Business Radio.
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INNOVATIONS BROUGHT A STEP CLOSER TO FRUITION AS THE INNOVATION HUB ANNOUNCES GAP INNOVATION COMPETITION 2018 WINNERS
Tshwane, 15 November 2018– A treasure trove of ideas have been added to the Gauteng province’s arsenal to boost the economy and find new solutions as The Innovation Hub – a subsidiary of the Gauteng Growth and Development Agency (GGDA) - annouced the winners of the Gauteng Accelerator Programme (GAP) Innovation Competition 2018.
Winners comprise innovators, researchers and entrepreneurs that are working on novel ideas that will improve the efficiency of government service delivery, increase the competitiveness of the local economy and enhance the quality of life of ordinary citizens.
From enviro-friendly ablution and sanitation solutions, to recyclable sanitary wear; improved access to dental care and what promises to be a sure winner for our consumption driven economy – a technological solution that alerts shoppers to the best sales and deals.
The next generation of entrepreneurs will receive commercialisation support and seed funding, and a year-long incubation at of The Innovation Hub’s Business Incubators.
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The Fundi Education Forum #FEF2018 gathered the greatest minds in Politics and Business to discuss the state of Education on the African continent. Nqobani Mzizi, host of "Business Today in Africa" had a chat with His Excellency My Raila Odinga, and they spoke about the deployment of technology for education, access to the internet in Africa for accelerated learning and his personal contribution towards Education in Kenya, amongst other important topics.
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ITU Telecom World 2018 took place in Durban, the third largest city in South Africa, a growing urban setting rich in diversity, cultural amenities, economic growth, history, and natural beauty. As the official host of the conference, the minister in the Department of Telecommunications and Post of the Republic of South Africa chats to Adetunji Omotola about the key takeaways, he emphasized on the need for partnership on every point, from infrastructure to delivery South Africa’s flagship initiatives to support ICT and SME development throughout both country and continent position it as the ideal host nation for ITU Telecom World 2018. The South African government’s national Digital Society SA strategy aims to position the country as a significant player in the development of ICTs throughout the value chain, accelerate uptake in all socio-economic sectors, increase inclusion, and transform the country into a fully digital society.
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In the wake of the VBS Bank scandal which was revealed in "The Great Bank Heist" report by Advocate Terry Mudau and Werksman Attorneys, the seems to be blurred lines that existed on the functions of each of the role players, who separately had different functions and were charged with governance and responsibility. We attempt to unpack these roles with the Ms. Kantha Naiker, and Accountant and Executive in her own right.
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The Brics Future Skills Challenge gave an opportunity for women to showcase their skills in welding. For women looking for a new career or considering switching fields, welding is an especially promising industry. When it comes to “non-traditional” occupations for women, welding can be one of the most vital, in-demand, and rewarding of the skilled trades.
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The entrepreneurs main objective is to get their business off the ground and run operations. Do they focus on the important issue of insurance on their lives as entrepreneurs, where if things would go bad on their lives, what cover is there? We get into that conversation to educate entrepreneurs and partners.
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The BRICS Skills Challenge will be focused on smart factories with Industry 4.0 as a key theme through both the EXPO and the challenge. The expo will have a more detailed focus showcasing the " 4th Industrial revolution and future skills". It will, however, be a very focused event with specific stands allocated to each of the BRICS countries. There will also be meeting areas to encourage Business to Business conversations. Three main areas will be looked at during the challenge: first will be digital which will include Cyber Security, Internet of Things, Data Analytics and High-Performance Computing.
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Lebo Lestoalo chairperson of MERSETA shares the purpose of having the Brics Futures Skills Challenge in South Africa. In 2018, Chairmanship of BRICS moves to South Africa, and with South Africa hosting the Government summit and the BRICS Business Council Meetings the South African Skills Development Working Group (SDWG) has agreed to host the second BRICS Skills Challenge at Gallagher estate in Gauteng, During October 2018. During the challenge, participants are given specific tasks and deadlines in which to complete them. Participants are judged by panels of specialists from participating countries. The objectives of the Skills Development Working Group are: · increase bilateral and multilateral cooperation in skills development for Industry 4.0 and other future skills that will facilitate economic growth, · collaborate for innovation and development of cost-effective learning tools and · development of a standard qualification framework and new curricula in emerging technologies, to facilitate skills development and raise skills standards.
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The Constitutional Court of South Africa handed down the Marijuana ruling that has been termed historical on the 18th of September 2018. Gavin Smith and Gavin Stansfield chat about some of the implications to watch out for in the workplace. The judgment deal with the constitutionality of the prohibition and criminalization of the use of cannabis by adult persons in their private dwellings. The Drugs and Drug Trafficking Act 140 of 1992 (Drugs Act) read together with the Medicines and Related Substances Control Act 101 of 1965 (Medicines Act), prohibits and criminalizes the use, possession, purchase, and cultivation of cannabis by any individual in South Africa. The relevant provisions of the legislation are: 1. Drug Act • Section 4(b) and 5(b) • Part III of Schedule 2 2. Medicines Act • Section 22A(9)(a)(i) • Schedule 7 The Cannabis judgment undoubtedly has implications for South African society. Since the initial challenges launched by Prince (as far back as 2002 and 1998), there are now 33 countries (including Australia, Canada, Spain, and Switzerland) around the world that have decriminalized and legalized the use of cannabis. Attitudes towards cannabis have changed, and continue to change, in many countries. These were facts that the High Courts used in support of its ruling and this was mentioned by the Constitutional Court in the Cannabis judgment. For certain religious groups and persons who make use of cannabis for medicinal reasons, the Cannabis judgment will be seen as a victory for various constitutional rights (including, the right to freedom of religion and the right to privacy).
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Dr. Chaesub Lee joins Adetunji Omotola on the sideline of the ITU conference 2018 in the city of Durban South Africa. They discuss the different roles of telecommunication in the global development.
Chaesub Lee is the Director of ITU’s Telecommunication Standardization Bureau, following his election at the 2014 Plenipotentiary Conference in Busan, Republic of Korea. He took office on 1st January 2015. Dr. Lee has been involved in the telecommunication and ICT standardization field for 30 years, specializing in areas such as integrated services digital networks (ISDN), global information infrastructure (GII), Internet protocol, next-generation networks (NGN), Internet protocol television (IPTV) and cloud computing. He started his professional life in 1986 as a researcher at Korea Telecom. After 17 years he took up a role at the country's Electronic and Telecommunications Research Institute (ETRI), where he stayed for the next eight years. Most recently he worked at the Korea Advanced Institute of Science and Technology (KAIST), and as a senior advisor to the Koreans Ministry, ICT and Future Planning (MSIP).
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Bret Rogers and Gavin discuss ill-fitting executive in an organization and how do you handle a situation like this. Having been “raised” in companies with healthy talent planning processes, one can easily take for granted the benefits of having a bench of strong internal candidates and few talent crises. We make the case for onboarding or a situation whereby you have a consultant working with the internal team just on a particular project, how do you make sure that you are still able to maintain a healthy organizational culture. Bret highlights what must be avoided and major red lights that could serve as a signal for trouble.
Injecting external talent, nevertheless, is an important aspect in maintaining a healthy and vibrant organization. However, the same processes that help prevent a poor internal selection are not as effective in the case of that occasional external hire. An external hire, unless handled by an experienced professional, is exposed to fewer quality controls to ensure organizational fit.
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Michelle Baron-Williamson, CEO of Managed Integrity Evaluation, joins us to discuss what to do if you think your criminal record is hindering you professionally. Securing a job in South Africa today is tough for many. Latest figures from Stats SA indicate that unemployment has increased to 27.2% for the second quarter of the year (from 26.7%) – where hiring organizations are more cautious than optimistic about growth in the economy, their markets, and their businesses. Hiring someone with a criminal record is often just not an option.
According to Michelle Baron-Williamson, CEO of Managed Integrity Evaluation (MIE), “In times of instability and evolving change, such as we are experiencing now, businesses particularly tend to become more risk adverse to their gainful investment, including in their people, and take a more inspective and discretionary approach to hire. As a result, we are seeing increasing investment into comprehensive background screening solutions to assist businesses in mitigating against the potential risk of an inappropriate candidate being hired. And if a candidate is found to have a criminal record, his or her job application may not be viewed favorably.”
MIE research shows that uptake of background screening services has grown by 6.77% in the last five years and criminal record screening remains the most frequently requested check by our clients in South Africa. In 2017 alone, the company conducted over seven-hundred-thousand criminal checks, of which 9.91% were found to have a criminal or pending criminal record; from violent crimes to theft and narcotics offenses, crimes against the state, white collar, and other crimes.
“The fact is, having a criminal record – no matter how small or ‘insignificant’ the offense may seem – will haunt a candidate professionally. Just like being ‘blacklisted’ or being recorded as a bad creditor can severely lessen a consumer’s chances of securing credit; having a criminal record could significantly impact
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Quentyn Taylor chats to us about how to reduce the current digital skills' gap in Africa. Plugging the gap – how businesses can resolve Europe’s digital skills shortage Digital transformation is revolutionizing the European workplace, with its ability to streamline processes, reduce expenditure and enhance the service offering. Rapidly advancing digital technologies are already being used in hundreds of sectors, including farming, healthcare, transport, education, retail, home automation and logistics. The demand for information and communications technology specialists is growing fast – so much so that according to the European Commission, 9 out of 10 jobs in the future will require digital skills. At the same time though, 169 million Europeans between 16 and 74 years – 44% – do not have basic digital skills. This means that the benefits that digitization can drive are quite literally under threat as Europe is failing to produce enough IT graduates. What’s worse is that as the pace of technological development snowballs, this gulf is widening. The prospect of 500,000 unfilled jobs in the European IT sector by 2020 is very real and looming. Businesses cannot expect governments to tackle this crisis on their own. Firstly, disruptive and revolutionary innovations will always affect private companies before they affect the state – because businesses tend to try out new technologies before governments do. As a result, nobody understands the implications of and reasons for the digital skills gap better than the businesses that are directly suffering the consequences. Secondly, with a capable and trained workforce, businesses stand to benefit enormously from digitization. Any organization, large or small, can contribute to tackling the growing digital skills gap, either by addressing it within their own function or by providing skills training more widely.
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The South Africa Portugues Chamber of commerce celebrated its 5th year anniversary and also held its annual Business Excellence Awards (with Standard Bank as the headline sponsor). Africa Business Radio is delighted to continue our partnership with SAPCC in covering this special event.
The SAPCC Standard Bank Business Excellence Awards are held annually to celebrate the Luso-South African business community’s contribution to the economic vitality and social fabric of South Africa. The Awards recognize excellence in business, personal achievements, innovative practices and outstanding contributions to the community. The format of the Awards has changed this year. The Chamber has increased the award categories from 3 to 8. The categories are 1. Professional of the Year, 2. Small Business of the Year, 3. Large Business of the Year, 4. Franchisor of the Year, 5. Business Person of the Year, 6. Business Innovation Award,7. Entrepreneur of the Year and 8. Mandela Tribute Award.
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Rui is a lawyer and Tony is a psychologist, together they call themselves 'The Law of Psychology'. Rui and Tony chat to us about some of the work that SAPCC has been doing over the past 5 years.
The South Africa Portugues Chamber of commerce celebrated its 5th year anniversary and also held its annual Business Excellence Awards (with Standard Bank as the headline sponsor). Africa Business Radio is delighted to continue our partnership with SAPCC in covering this special event.
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The South Africa Portugues Chamber of commerce celebrated its 5th year anniversary and also held its annual Business Excellence Awards (with Standard Bank as the headline sponsor). Africa Business Radio is delighted to continue our partnership with SAPCC in covering this special event. Thokozani and Rui of GrowthMap, both members of the chamber join us to share their experiences of the chamber.
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Pan African Climate Justice Alliance (PACJA) is a continental coalition of Civil Society Organizations whose goal is to mobilize and empower African civil society to ensure the realization of environmental and climate justice for all people in Africa. We are the largest alliance of Civil Society Organizations (CSO) with over 1000 members in over 45 countries in Africa, embodying one African voice on climate and environmental justice. The formation of ACCER (Africa Climate Change Environmental Reporting) is to allow Africans to report on environmental issues and the theme this year is “changing the African narrative on climate change”. This call is to all journalist who is passionate about the report on the such as a table. The application link is accerawards@pacja.org
PACJA has a vision of a global environment free from the threat of climate change with sustainable development, equity and justice for all; also to develop and promote pro-poor development and equity-based positions relevant for Africa in the International climate change dialogue and related processes.
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Rudi Kruger, General Manager of LexisNexis Data Services joins us to discuss the importance of reference verifications on job applications. On the show, we tackle the following:
•Why is it important for employers and recruitment agencies to do reference checks
•Is there a way employers can verify that what the employee is saying is true?
•It has become a trend to have employees asking friends to act as references on their resume or leave out the reference of employers who could possibly damage their chances- can employers find those employers?
•What are some of the disadvantages and advantages of reference checks?
•realistically speaking how many candidates get reference checks?
•are there specific reference check question employers should be asking?
•How can employers conduct effective reference checks?
•Falsifying credentials are on the rise - can reference checks curb this?
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Saurabh Kumar, CEO at In2IT Technologies joins Gavin Smith to talk about Technology in the workplace and how it can influence and affect productivity and profitability. Here are some of the questions that were examined:
•How can employers use technology to improve productivity and profitability?
•Why is technology important in a business?
•How can ICT help in business?
•How can technology help with employee engagement?
•What is the true impact of technology on workplace productivity?
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Anthropology speaks about the study of historical facts, an attempt to understanding the many different aspects of the human experience through the eyes of history and another element; archeology is considered by some as a branch of anthropology. There are other different branches of anthropology such as cultural anthropology, biological anthropology, and linguistic anthropology. Economic anthropology came about as a result of the juxtaposition of two disciplines in the 20th century. Historically, entrepreneurship is in our DNA as African and to further unpack this, Dr. Lulu joins us in the studio.
Dr. Lulu Gwagwa is a multifaceted woman: an accomplished development planner; business leader; and philanthropist. She is a keen writer and photographer who is currently studying philosophy.
Four times a year, she hosts a ‘Girls Lunch’ where she engages young African women on issues facing women in modern society. She motivates them to dream big. “Read widely. Travelling broadens your mind, and it is not as expensive as we think. Build and sustain your networks. Get involved in your community, and in empowering others. But most importantly, invest in knowing yourself,” she says.
Dr. Lulu’s passion for spatial equity has driven her philanthropic work. Two decades ago she founded the Mhakazi Trust to empower the young people of Umzimkulu, some of whom have even graduated from tertiary institutions.
Dr. Lulu is currently the Chief Executive Officer of Lereko Investments, a black-owned investment company, and one of the principals in the Lereko Metier Capital Growth Fund. Dr. Lulu also serves as non-executive director of FirstRand, Massmart and Sun International. She is also the Chairperson of Aurecon Africa and a fellow of the African Leadership Initiative (ALI).
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We shine the spotlight on the most important aspect of business and that is the talent because a well-run hr department improves productivity and aids in maintaining the organizations brand image. It also plays a huge role in developing the organizations' strategy as well as how the employee-centered activities are handled.
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With great power comes great responsibility and professional accountability.
Africa is aligning itself with the rest of the international community’s legal inclination and becoming an ever more litigious country. With attorneys doing work on a contingency, or a “no win, no fee” basis, it is becoming easier and easier to sue and hold a wrongdoer liable.
According to Legal Risk Advisor, Samantha Baleson of Aon South Africa, the working professional faces many challenges and obstacles when executing their job or mandate. “Primary to that is the duty and responsibility that they hold towards their clients, regardless of whether or not they have a contract with those clients and regardless of a fee being charged.”
It is imperative for all professionals across the board, including the financial advisory sector, to consider their risk exposure and embark on a proactive and sound risk management strategy with a professional insurance broker by their side, to advise of any exclusions and build a well-rounded insurance solution for themselves and for their business
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Gavin chats to the National spokesperson of LIMUSA Mr. Dlozi Matooane. At the 2018 Mining Indaba kicks in Cape Town issues of health and safety in the mining industry were prioritized. With increasing reports of mining incidents, one wonders what needs to be done to avoid or prevent all the safety issues crippling the mining industry. Mr. Dlozi narrates the current situation of Health, Safety and Environmental Quality in the South African Mining industry, highlighting what is lacking and what should be done. He also accuses some mining companies such as Sibanye Gold etc of neglecting and downplaying the issue of workers' safety in the mine sites. We also spoke about the National Health Insurance Insurance Framework that's currently in the implementation stage.
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Ethiopia is treating Saturday explosion that killed 2 people and wounded many others as an assassination attempt on PM #AbiyAhmed 30 Gov. officials reported to have been arrested already. The Prime Minister of Algeria disclosed that the country's foreign reserves fell by $7.3 billion already in 2018 and a further decline of $5 billion by the end of 2018. According to the oil ministers from the two countries, South Sudan and Sudan to begin production and exportation of crude oil.
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When examining how technology is impacting HR, it’s useful to break down the HR lifecycle into its key components. This can be done in many ways but we like to break it down into three simple stages:
•GET THE JOB- Recruitment, and onboarding
•DO THE JOB- Training, culture, and productivity
•GET REWARDED- recognition and performance management
New tech solutions are starting to permeate all three stages of the HR lifecycle. Below are the top 5 emerging trends that we have identified:
•TREND #1: Increasing use of AI-powered candidate matching tools
•TREND #2: Tech-enabled employee referrals as a recruitment channel
•TREND #3: Replacing tedious generic corporate training with personalized online learning
•TREND #4: The rise of free/ low-cost HR management tools that aggregate health insurance
•TREND #5: Crowdsourcing employee feedback to inform culture, recognition and performance management
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Nurses make up the largest number of healthcare professionals in Africa and this will also put a spotlight on the industry and bring in a different narrative during this timely trend this month. We had a chat with Nadine Nunan | Scientific Affairs & Education Manager at 3M about the Internation Nurses day 2018, we discussed some of the following: - Importance of having access, investment and growth as being key elements in health as a human right - Investment and Economic growth - Investment in human development is key to the sustainable development of Africa's Nursing sector - Challenges facing the sector We also Unpack role of nurses as being key to people-centered approach health care; Core elements of an effective health system based on the right to health.
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Grant Wilkinson, Executive, Global Business Solutions joins us to unpack the dynamics of employees' questionable social media remarks and how businesses can manage it. Social media is an extremely powerful tool. No longer is being published on a platform - that the entire world can see - the sole domain of print media and limited to a selected few. Anyone can become a published author thanks to the Internet and social media. This is an incredibly powerful tool; however, some may abuse this power and, in the process, bring their employers into disrepute. The case of Hanniker v One and Only Cape Town (Pty) Ltd – 26 CCMA 8.37.9 illustrates this point:
• An employee published a comment on Facebook which allegedly brought his employer (a hotel) and the hotel’s security manager into disrepute. • She – the employee – claimed that her comments were valid and were posted in reaction to an incident that the security manager was negligent.
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Johan Botes joins us to discuss the different dynamics to managing human resources during mergers and acquisition taking note that what's most important is the capacity needs for the new operation. It is important also for employees to be protected while also taking note that the business survival is of great priority. Johan Botes heads Baker McKenzie’s Employment Practice Group in Johannesburg. Johan is experienced in employment law and labor relations, focusing on South African and sub-Saharan African employment law and employee relations. He regularly advises multinational clients on industrial relations, employment negotiations, labor dispute resolution, changes management, and organizational restructuring. Johan's practice spans a range of industries including financial services, consulting, fast-moving consumer goods, aviation, pension funds, media, retail, manufacturing, and mining. He also focuses on corporate restructuring, employment litigation, advising and assisting with collective bargaining and trade union recognition, managing relations with trade unions, acting as a negotiator for management teams, managing industrial action, employment disputes, transfers of undertakings and employment law implications of such transfers, and optimizing contracting models.
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At least 80 new delegates from different countries were sworn in as Members of the Pan African Parliament following elections in a number of African States and rotation within delegations. Out of this 80, about four or more were fro South Africa including Julius Malema, Thoko Didiza, Mandla Mandela etc.
Mudzithe had a chat with Hon. Thoko Didiza and Mandla Mandel and thier views of the parliament just few hours after being sworned in and also disuss some of their concerns with regards to the agenda and roles of the parliament in the development of Africa as a continent.
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The Sixth Ordinary Session of the fourth Parliament of the Pan African Parliament (PAP) will take place from 7 to 18 May 2018 at the PAP precincts in Midrand, South Africa. Deliberations of this Session will be guided by the overall theme: “Winning the Fight against Corruption: A Sustainable Path to Africa’s Transformation.’’
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Sam is the founder and Managing Director of Lisacars formerly known as Lisabank. He's been an entrepreneur in the automotive and retail industry for more than 30 years. Sam had a sitdown with Mudzithe, give his best advice as the lesson from his 30 years entrepreneurship journey.
Lisacars was Established in 2010 with the realization that many people would love to own a car. We began with 2 staff members and one branch. Today in 2017 we have five branches in Gauteng, a diverse and strong team of 150 and a management team that has over 150 years’ experience in the motor industry.
LisaCars gives car buyers the benefit of test driving and examining vehicles. Most repossessed automobiles are available through the auction process. By visiting LisaCars Repossession Warehouse, you are assured of a professional, quality purchase. We pride ourselves, in offering wholesale cars at rock bottom prices. We offer over 300 quality affordable cars, you as a client are able to purchase by paying cash or obtaining finance through all major financial institutions.
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As a global conference speaker on Change, host Michael Jackson has already spoken at nearly 3000 conferences around the world to critical acclaim. We bring you Business leaders, gurus, icons, entrepreneurs and thought and opinion shapers. We provide insight into what makes these people tick and uncovers ideas and thoughts that you can apply to your life and career. A natural storyteller; Jackson engages naturally with his guests and it’s compulsive listening. Stephen Hawking has called this century, ‘the century of complexity’. The moment mainstream culture awakens to the complex nature of reality. The realization that while the universe is comprised of some controllable and predictable elements, it’s largely uncontrollable, unpredictable and emergent.
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The Embassy of the United Arab Emirates, Pretoria in conjunction with South African government agencies, is planning to convene a trade and investment workshop on 24 April 2018.
Objectives:
To introduce South African stakeholders to the UAE’s 2018 trade and investment strategy. To examine current investment trends and climates in both countries. To discuss trade and investment opportunities within various sectors. To identify trade and investment gaps/niches in the market. Long term: To promote trade and investment between South Africa and the UAE. To foster outbound trade and investment to the UAE. To enhance existing economic relations and increase trade and investment volumes between South Africa and the UAE.
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Allon Raiz is regarded both locally and globally as a pioneer and maverick in the business-incubation industry. He is the founder and CEO of Raizcorp which, according to The Economist, is the only genuine incubator in Africa and which currently supports over 500 businesses. Allon is the author of two best-selling entrepreneurial books – Lose the Business Plan and What to Do When You Want to Give Up. He hosted the first national radio show on entrepreneurship in South Africa in 2004; wrote and hosted the first South African prime-time entrepreneurship reality television show; and created and published an ongoing entrepreneurial cartoon strip. Allon is currently hosting his sixth season of the popular The Big Small Business Show on Business Day TV and is a regular columnist for Entrepreneur Magazine. Allon is a co-founder of the Entrepreneurs’ Organisation South Africa and Rural Roots and is on the advisory and judging boards of numerous local and international NGOs and entrepreneurial awards. His passion for and focus on the development of entrepreneurs attracted the attention of the World Economic Forum (WEF) which, in 2008, recognized Allon as a Young Global Leader. As an accomplished international speaker, Allon was invited to speak at the 2011 WEF Annual Meeting held in Davos, Switzerland. In 2011, he was also invited to become a member of the WEF’s Global Agenda Council on Fostering Entrepreneurship, making him one of 15 recognized global experts in the field. More recently, he became a member of the WEF’s Global Future Council.
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Organized by The South African Portuguese Chamber of Commerce, three international legends in the fields of Mind Power, Change, Growth, and Entrepreneurship came together in one venue to share their best advice ever in business and life generally.
Allon Raiz is regarded both locally and globally as a pioneer and maverick in the business incubation industry. He is the founder and CEO of Raizcorp which, according to The Economist, is the only genuine incubator in Africa and which currently supports over 500 businesses. Robin Banks is one of the world’s leading authorities on the subject of Mind Power and Personal Mastery. He is a highly sought-after international speaker and has spoken to CEOs and Senior Management from global Fortune 500 companies. Michael Jackson has over 30 years of strategic business, marketing, and communications experience. Born in Britain, then London educated and trained in business strategy development and communication, he has worked personally for business leaders such as Richard Branson and Bill Gates, as well many other leading global businesses such as Qatar Airways, HP, Goodyear, and Barclays.
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You cannot be the best “you” if you are do not know who you are and what you have. This book contains tips that you need on the journey of self-discovery. Having discovered yourself you need to tune in to your God-given purpose as it gives meaning to life. There are chapters dedicated to motivation and encouragement which is the fuel you need on your success journey.
It provides nuggets on how to be organized and effective. Not only does this book help you to plan but it also gives you an urge to implement what you plan. May you be inspired to go to another level of performance in order to achieve superior results. Excellence in execution is a differentiator between those who live successful lives and those who fail to maximize their existence. Having this book in your hands is critically important having read it, implement what you have read and seen your life change.
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15 – 17 May 2018 hosted in Lagos, Nigeria Radisson Hotel The time has come for African leaders and coaches to come together and accept that coaching belongs on the continent as one of the levers that can enhance leadership capability in all forms of organization existence. For the African continent to prosper, it should have prosperous regions. For African regions to prosper, they have to have successful member countries, and these countries should not only have great leaders, they should have great coaches. Leadership greatness begins with leadership coaching, in one form or another. In the African tradition, the healing profession and traditional authority are one such good examples of how coaching has made it possible to pass on, from one generation to another, the art and practice of same. Coaching is one of the cornerstones of indigenous knowledge systems. Modern schools of thought on coaching, borrow a lot from how our ancestors have always passed on the practice of any of their crafts through coaching and mentoring. If you are a coaching executive in a corporation, public or private, or in government and even in the non-governmental sector, you ought to be here. If you are a highly respected professional in any discipline, or just a C-Suite or other executives, you may want to join us, and you will come out richer as we shape the malleable role of coaching in leadership development for Africa’s growth.
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Africa Innovation Summit (AIS) under the patronage of President Paul Kagame of Rwanda and President Pedro Pires of Cabo Verde, taking place from 6th to 8th June 2018 in Kigali, Rwanda. The Summit will include an Exhibition by up to 50 African firms (start-ups and SMEs) to showcase innovations taking place on the continent. The AIS has partnered with Enterprise room, a transformation consultancy specializing in starting, sustaining, and accelerating businesses, to drive the sourcing and selection of up to 50 Innovations across the continent, to be showcased at the Summit. The CEO of Enterprise room, Tracey Webster, said “We are delighted to partner with the AIS and believe the innovations selected to be showcased at the Summit will have a unique opportunity to engage the right stakeholders when it comes to discussing and unlocking blockages in the eco-system that are preventing solutions from going to scale, or ideas being commercialized.” AIS firmly believes that the solutions are in Africa and innovators need to be at the table architecting a conducive environment for Innovation to thrive in Africa.
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As African Union members state gathers in the city of Kigali, Rwanda to sign a pact(AfCFTA) that will form the largest single market in the world. As far back as January 2012, Heads of state and the principals of the African Union adopted a decision to establish a Continental Free Trade Area by an indicative date of 2017. The Summit also endorsed the Action Plan on Boosting Intra-Africa Trade (BIAT) which identifies seven priority action clusters: trade policy, trade facilitation, productive capacity, trade-related infrastructure, trade finance, trade information, and factor market integration.
With about 35 countries signing this agreement form the beginning excluding the most populous country in Sub-Saharan Africa; this will create the largest single market globally, what does this mean for African businesses and the concept of 'Doing Business in Africa' African Continental Free Trade Area - What Does This Mean For 'Doing Business in Africa'?
African Continental Free Trade Area - What Does This Mean For Doing Business in Africa?
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Oil prices fall this Monday morning as the US added Four new drilling points leading to higher output which is said to drive oversupply of the commodity in the coming days. U.S. West Texas Intermediate (WTI) crude futures were at $62.14 a barrel at 0739 GMT, down 20 cents, or 0.3 percent, from their previous close. Brent crude futures were at $65.99 per barrel, down 22 cents, or 0.3 percent. Egypt which has become the prime territory for risk-hungry debt traders for the past 15 months, could be upstaged by other emerging markets as it begins to cut rates to spur the economy. Exxon Mobil Corporation is working in partnership Pakistan’s large businesses on a proposal to build and supply the country’s third import terminal for liquefied natural gas, according to the nation’s minister for maritime affairs.
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The African Development Bank (AfDB) has said it is in talks with its Governors to unravel strategies that are effective and efficient in closing Africa’s $170 billion infrastructure investment gap.
Nigeria’s External Reserves are steadily heading towards the $50 billion mark.
About N658.56 billion was received by the Federal Government of Nigeria from oil and non-oil sectors, according to the Central Bank of Nigeria (CBN) Economic report.
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About Three decades the concept of single aviation market was first proposed by the then 54-member African countries. Earlier this year 2018, during the first AU General Assembly in 2018, 23 African states, including South Africa, Nigeria, and Kenya, have launched a single aviation market in a bid to boost connectivity, reduce fares and stimulate economic growth on a continent widely considered the most expensive and inconvenient to fly around.
The first phase of the Single African Air Transport Market which officials hope it will eventually replicate the European or Asian Common Aviation Area, which allows airlines from member states to fly between any member state. Airline executives, as well as industry analysts, welcomed this move as a “seismic event” but cautioned that much more work was needed to create genuinely open skies in Africa. David hosted Mr. Miya, a Senior Manager: Government Strategy, Corporate Compliance, Consular Services and Document Procurement at Fragomen’s Johannesburg office, to discuss the implication of the recent announcement of 23 African countries signing Africa's Single Aviation Market. This is one of the major moves towards achieving the ambitious Agenda 2064 which is tagged ‘The Africa We want; A Shared Strategic Framework for Inclusive Growth and Sustainable Development. In its implementation, Agenda 2063 is leveraging on past and current initiatives which include: the Lagos Plan of Action, The Abuja Treaty, The Minimum Integration Programme, the Programme for Infrastructural Development in Africa (PIDA), the Comprehensive Africa Agricultural Development Programme (CAADP), The New Partnership for Africa’s Development (NEPAD), Regional Plans and Programmes and National Plans. It is also built on national, regional, continental best practices in its formulation.
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The role of mentorship (it takes a village to raise an entrepreneur) Entrepreneurship (and entrepreneurship education) has long been lauded as a solution to economic marginalization – a way to get disenfranchised young people in particular into the economy.
African continent is rich in diversity – in language, culture, and perspectives – which has fostered innovation and creativity across a broad spectrum of categories – TechCrunch This modern-day scramble for Africa also has nothing to do with the colonization of African territory by European powers between 1881 and 1914 but is rather about the hunt for the Next Big Thing. From Cairo to Kigali, Cape Town to Lagos, Nairobi to Accra and Kampala to Dakar, tech hubs are rising faster than the cities that contain them. – Forbes Africa According to CEO Sundar Pichai, Google is committed to supporting African entrepreneurs; Google announced the Google Developers Launchpad Africa, a new hands-on comprehensive mentorship program tailored exclusively to startups based in Africa, which will provide African startups with over $3-million in equity-free support. Several incubators are currently springing up across Africa hosting accelerator as well as incubation programs, these two terms often overlap. When it comes to funding, we are now talking about Angel Investing, Seed Capital, as well as Private Equity Firms, Focusing mainly on SMEs segment.
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In the spirit of celebration, we join Africa Leadership Academy as they celebrate 10 years of developing and educating the new breed of young leaders in Africa.
We are speaking to Amjab Bashir who is a member of the European Parliament and Tijani Babatunde Folawiyo is a Nigerian businessman. He is the managing director of Yinka Folawiyo Group; our conversation is about the current trends in Leadership across Africa from the perspective of a businessman and a politician.
The Decennial Indaba brought together ALA alumni, staffulty, and alumni staffulty to the African Leadership Academy (ALA) campus to celebrate the community that has been built over the last 10 years and chart the course for ALA's future. ALA’s Indabas are gatherings for ALA community; they provide the perfect opportunity for members of the network to reconnect with old friends, meet other members of our community who share their passions, and renew our focus on the African continent. As 2018 marks ALA's decennial year, we are hosting the biggest Indaba in ALA's history. The Decennial Indaba will be held on ALA's campus and will feature special guests and speakers.
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The Democratic Republic of Congo joins Chad in negotiation for debt relief with trading partners; with the appointment of investment bank Lazard as an advisor. IMF has stopped Kenya from accessing a $1.5 billion standby credit facility last June after failing to agree with the government on a reduction of the fiscal deficit. Qatar injected roughly $43 billion into banks in 2017 after a Saudi Arabia-led boycott resulted in a drop in deposits.
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The Nigerian National Assembly has requested the National Executive to submit an N800bn($2.208bn), the supplementary budget which it said to owe marketers in an attempt to end the lingering fuel scarcity across the country. World Bank to support Nigeria’s power recovery with $2.6bn. Nigeria external reserves to hit 54 months high of $45bn. Nigerian Stock Market Records 0.08% Gain as Market Breadth Closes Negative; Down by -1.13% Week on Week.
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Salum Awadh is a renowned strategy and financial consultant based in Tanzania, covering the East African region, with about seven (7) years of experience in providing advisory services in the areas of business development, management, finance, investment, transactional advises, private equity and venture capital services, deal structuring, project management, risk management, socio-economic development, research and training. He is the Founder and CEO of SSC Capital, a Finance and Investment advisory firm offering solutions in funds management, private equity transactions, Crowdfunding corporate advisory, corporate restructuring, and M&A. The firm has recently launched an intermediary fund called EA Export Fund He has served a diversity of clients from the government institutions, corporate, international investors, SMEs and not-for-profit institutions in a variety of sectors in Tanzania. Salum also works as a transaction advisor helping Tanzanian companies to raise both equity and debt from regional and global private equity and venture capital firms, advice on divestments, deal structuring, and M&A.
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The petroleum retail industry has evolved over the past three decades – in terms of structure, layout, ownership, and technologies. Processes are more streamlined through integrated process and systems, from mechanical DU, tank gauges, to electronic, automated Desktop Underwriter (DU) /Automatic Tank Gauging (ATG) and Fluid Catalytic Cracking (FCC), and integrated Point of Sale (POS), Back Office System (BOS) and Hours of Service (HOS).
But the traditional forecourt model where the processes are manual is, once again, ripe for disruption. Take for example the process of filling up your tank and purchasing goods at the convenience stores. With technologies such as the Internet of Things (IoT), Artificial Intelligence (AI) and analytics, the possibilities are endless.
If we have a look at macro-trends in the Retail Energy sector – including environmental concerns, new forms of biofuels, price pressures, and the advent of driverless cars – they are changing the game for fuel retailers. Our classic petrol forecourt scene may not be around for much longer, as forward-thinking energy players use advanced technologies to redefine the forecourt experience.
Petrol stations are under pressure from a number of retailers as they look to adapt to changing demographics (digital natives, millennials), and new technologies like e-commerce, robotics, mobility, and the Internet of Things (IoT). All these trends are upending site operations and customer service.
Here are a few ways to deliver new offerings and value propositions, enabling forecourts to evolve in the future – enhancing customer engagement, marketing efficiency, business capability: - A shift to format fewer forecourts - Smart Payments - Loyalty on steroids - On-demand, drone delivery - Electric charging - Integration into connected cars - Beyond energy for autonomous cars - New business models to complement or supersede
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Pete da Silva – CEO of the Jasco Group- joins us to discuss why the time is right for companies to take proactive action and consider alternate energy solutions in order to lessen the company’s impact on the environment and importantly, save some money.
Jasco has recently very successfully implemented a solution which has reduced their carbon footprint by 50% - So Pete offers useful advice in this discussion.
The approval of the Carbon Tax Bill has been in the making for a while, with the most recent development being South Africa’s cabinet approval of the release to parliament. It may be finalized and gazetted sooner than we think. It is not only the ever-increasing cost of electricity that is driving companies in South Africa to rethink their energy consumption and strategies, but the imminence tax imposed on an organization’s carbon footprint is driving a greener thought process too. South African companies are going to have to adopt a new approach to energy conservation with the ultimate impact on climate change by reducing the emission of greenhouse gasses.
Photovoltaic (solar) energy as an alternative energy source is now gaining traction in the South African market and as the cost of hardware decreases, the solution becomes financially more viable. Further driving this is the impact of Eskom’s proposed 19.9% increase. It becomes even more apparent that a long-term alternative energy solution is the solution to preventing a hefty carbon footprint tax whilst reducing the ever-increasing cost of energy.
One very effective (consumption and cost wise) solution is to look towards photovoltaic projects that leverage an area of a company’s real estate that is costly and doesn’t generate any benefit in terms of revenue – a company’s car park.
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- Augmented/Virtual Reality, Artificial Intelligence, IoT, and Chatbots take center stage
- They’ll combine to radically change the ways in which we interact with the world
- Business leaders must prepare for a very different reality in 3-4 years
2018 will see the continued advancement of some key technology realms: most notably in the areas of Virtual and Augmented Reality, Artificial Intelligence (AI), the Internet of Things (IoT), and voice-enabled chat and Chatbot interactions.
Each of these technology themes is at different levels of maturity on Gartner’s hallowed Hypercycle, with some poised to fall into the trough of disillusionment this year, while others already start their steady ascent upwards on the slope of enlightenment.
Trying to analyze each technology theme on its own, however, is the wrong approach. These are evolutionary, not revolutionary changes – they coalesce into one another, feeding off each other’s developments, creating something entirely new.
At those points where they converge, the magic happens. They will fuse together to reshape the ways in which we interact with the world around us, with each other, and completely alter the nature of the business.
MPUMI NHLAPO is a recognized thought leader, writer and public speaker on Digital Transformation. He spent over 10 years building Intervate Solutions, a start-up business in the Technology sector, with his partners, which they grew to become the leading Microsoft Solutions Provider in Africa.
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In 2017, The Nigerian Stock Exchange emerged as the world's 3rd best-performing stock market following the 43% year-to-date return recorded by the All Share Index during the year.
The Stock Exchange on the 9th January 2018 maintained its impressive performance as the All Share Index rose above the 40,000 mark for the first time in three years, Specifically, the Index rose to 40,362.97 points yesterday from 39,849.65 points on Monday, the highest since October 2014. Market capitalization which opened at N14.181 trillion inched by N182 billion to close at N14.363 trillion. The volume of shares transacted rose by 27.52%, with 770.89 million shares valued at N7.89 billion traded in 7,395 deals as against the 604.53 million shares worth N16.17 billion exchanged in 5,769 deals previously.
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Nigerian Equities market closed on monday on a positive note, as NSEASI appreciated by +2.38% to close at 39,849.65 basis points as against +0.64% appreciation recorded previously.
The Bond market traded on a relatively quiet note, with slight sell at the close of market offsetting some initial buy interests on the long end of the curve. Average bond yields consequently inched up by 3bps to 13.57%.
Stanbic IBTC Stockbrokers Limited led the top 10 stockbrokers on the Nigerian bourse for the year ended December 29, 2017.
The appointments of Mr. Balogun and James Ilori to the Board of Legacy Pension Managers (“Legacy Pensions”) come in the wake of the acquisition by FCMB Group of 60 percent of the company, raising its interest to 88%.
The Nigerian equity market set off the New Year on a laudable note as most indicators across board closed in the green during the period under review.
In line with post-listing requirements of the Nigerian Stock Exchange for quoted companies, Zenith Bank Plc hereby informs you of the scheduled commencement of the closed period for trading in the bank's shares on January 8, 2018, in respect of the Audited Accounts and Financial Statements for the financial year ended December 31, 2017.
The Federal Government of Nigeria Savings Bond offer for January opens today the 8th of January 2018 and will remain open for five days until the 12th of January 2018.
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Food subsidies at work should not be “added benefits”. In fact they may be a way to attract and retain staff (especially Millennials). That's according to 60% of Fortune 500 companies, including the likes of Facebook, Google, Microsoft, Deloitte and Goldman Sachs, who offer some form of food benefit to staff. The cost to company however is high - but technology and the rise of food delivery apps in SA combined with favourable tax laws provide an answer. OrderIn, local food delivery app has worked with SARS to incorporate tax-deductible meals into its app offering a virtual canteen of cuisines to businesses. Companies can register and offer employees an 18% to 45% tax break on all food ordered with OrderIn during office hours. There are only a handful of countries in the world that have such favourable tax laws.
Want to attract and retain millennials? Food subsidies are not “added benefits”, they’re a business imperative. That's according to 60% of Fortune 500 companies, including the likes of Facebook, Google, Microsoft, Deloitte and Goldman Sachs, who offer some form of food benefit to staff. The cost to company however is high, or at least it used to be, until OrderIn, a food delivery app, which offers a virtual canteen of cuisines and an instant tax back benefit to employees.
“We want to change the way people order in by using technology to create more value for all our customers – from the time conscious corporate to the cash-strapped consumer,” says OrderIn founder and CEO, Dinesh Patel.
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Africa’s early stage investor community came together from 15th to 16th Nov. 2017, for the 4th annual African Early Stage Investor Summit – #AAIS2017. This exclusive investor-only event, hosted at Workshop17 in Cape Town, South Africa, unites key stakeholders in the ecosystem from across the continent to exchange best practices, share lessons learned and plot the roadmap for the future.
This theme ‘START-SCALE-EXIT' F(o)unding Great Startup Teams Poised For Global Success’ focuses on the role investors play in working with startup teams to scale internationally and ultimately exit. Topics key to this year’s event will for example be:
expanding from Africa to the world; building international syndicates; taking startup teams from idea to exit; angels exiting to VC’s.
The World bank Digital Accelerator, XL Africa, Showcase 5 out of 20 entrepreneurs.
We are in conversation with Benjamin Meltze, Natalie mend, Abubakr Abdullah, Joan Mneney.
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World Bank’s Digital Acceleration Program, XL Africa was at the Africa Angel Investor Summit 2017, through which top 20 African start-ups showcased their business models. These businesses have traction with digital services and products on the market now, and are seeking Series A capital between $250,000 to $1.5 million.
XL Africa (https://www.xl-africa.com); is a five-month acceleration program designed to support the scale-up of top 20 startups from Sub-Saharan Africa (SSA), selected from some 900 applicants.
Innovation and Entrepreneurship At The Centre of World Bank's Agenda For Africa - XL-Africa
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We are what we think. What we think is determined by our ability to learn; and the basis for learning is established in our first 1,000 days of life. It is during those early years that we lay the foundation for endless possibilities. Erika is a Portfolio Manager at Innovation Edge, a key part of her role is challenging investees to apply their skills to a space that is often unfamiliar to them. This involves helping them to re- imagine their ideas to solve challenges that they did not necessarily set out to solve. This is frequently where the real innovation happens.
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We're introducing news things on the show and I'm proud to announce that we will have a Personal Finance feature. The contributor to this segment is Adam Helper who is an accredited Financial Advisor. We first get to find out who he is, then we're discussing how to maximise your retirement savings. You don't wanna retire poor, right?
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“Today’s investment in Enterprise Development is Tomorrow’s Security of Supply” The ABSA Enterprise Supplier Development provides both the public and private sector with the opportunity to showcase their leading verified Black Owned Suppliers. HOSTED BLACK OWNED SMME’s Over 400 verified black owned business from across sectors.
PROCUREMENT PROFESSIONALS / BUYERS Procurement professionals have the opportunity to SOURCE from over 400 of these highly rated SMME’s in order to meet your preferential procurement and supplier development needs!
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As we know that the way we conduct business today is ever changing, you see this change frequently through the term coined as digital transformation or in essence the digitalisation of business. Sarah is taking to the stage during the Smart Procurement conference to distil what this digitalisation means today and how procurement processes can be simplified to drive business forward. Cloud technology is proving to be a key catalyst towards driving business growth; addressing the need to streamline business process, increase rapid time to innovation, gaining operational improvements and saving on costs.
We understand that with this technological innovation and development, comes much uncertainty- not knowing how this software-as- a- service solution works, or what potential it offers business, what it looks like and how it works.
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zyp6iciq The Kenya supreme court ruling overturning the election and calling for new ones, the official verification of results in Angola, continuing troubles resulting from Lesotho and Zambia elections -- calls for an examination on what can be done to improve the electoral process.
On this show, we have conversation about the following:
. How do we Make Election Commissions truly independent. . How do we Remove political party and incumbent administration advantages by ensuring full access to state media by opposition parties (quota system of air time) and resources. . Giving actual power to the decisions of international election observers.
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Tourism is the second largest contributor of FDI after Agriculture; Kenya’s economy will grow at a healthy pace in 2017. The economy is supported by a strong rebound in exports and steady (though somewhat slower) gains in private consumption. The slow growth in credit – which stems from the government’s decision to cap interest rates – curbs business investment. Uncertainty about the coming presidential election also dampens investor sentiment. Growth of real GDP will gradually rise, reaching 6.5% per year in the medium term. To fully benefit from the region´s tourism potential governments and stakeholders should work together to address issues such as infrastructure, security and sustainability by integrating the right policies and regulations.
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In this episode, we will be focusing in Lagos, Nigeria. Sub-Saharan African tourism has grown by an average of 4.3% per year since 2008, outpacing the global average of 3.2%, this growth is expected to continue reaching over 45 million arrivals by 2018. The Increased Foreign Direct Investment (FDI), new trade partnerships, access to international capital and rise of the middle classes will help the continent live up to its tourism potential. However, governments and stakeholders need to develop the right strategies and regulations to maximise the benefits of tourism. Huge opportunities for tourism development exist in sub-Saharan Africa, with international arrivals expected to reach over 45 million visitors by 2018, this will be driven by strong economic growth and increased flight capacity.
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Dipolelo Moime of Lerato Advisory Group join the host of Business Today in Africa for his weekly Africa Business Report.
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China’s economy maintained its momentum last quarter, as global trade and domestic demand spurred a pickup at the nation’s factories. Yuan Set for Longest Run of Gains Since 2015 on Fixing, GDP Data. South Korea to Boost Minimum Wage by 16%. Oil Holds Gain Above $46 as Demand Seen Helping Drain Stockpiles. Saudis Seek Bids for First Utility-Scale Plant for Wind Power. Foreign participation in Egypt's T-bill auction at $223 mln
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Equities market closed friday on a negative note, as NSE ASI depreciated by -2.45% to close at 32,122.14 basis points, as against -1.64% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +19.53%
CBN Forex Supply Hits $7.136bn in Four Months.
Interbank rate drops on N152.6b T-Bills, forex refund.
Rising Nigeria oil output double-edged sword for economy.
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Multichoice launches the new ARRIS HD PVR which is known as the EXPLORA 2. We speak to the Regional Vice President of Sales at ARRIS, Mr Darren Granger. Arris are the makers of this new decoder and we get to learn a bit more about it.
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Business Headlines daily from across Africa. Live on Africa Business Radio Monday to Friday 8:00cat. www.africabusinessradio.com
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Uganda: Government Acquires Shs6 Billion Weather-Reading Machine, Ethiopia: Nation Preparing Higher Education Roadmap, Uganda to Import Chinese Teachers, Rwanda: Entrepreneurs Showcase Products in U.S. etc
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MTN seeks to raise billions through IPO, Manufacturing PMI Declines to 42.1% in August from 44.1% in July 2016 - CBN, Power companies to clear future debts with corporate bonds- Trekker, Kenya, Rwanda sign free trade pact with Europe, Global currency trading shows first contraction since 2001, says BIS, Manufacturing PMI shocks with a sharp fall into contraction territory, MARKET WRAP: JSE closes weaker as retailers lose ground, NSE-ASI records 3-day gain, hits above 28,000bpts as bellwethers end bullish, Oil and gas production schedules for East Africa
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Business denies asking Zuma to act unconstitutionally in Gordhan case, Stocks fall further as pressure on Big CAPs gains tempo in Nigeria, Trade, financing top Japan-Africa forum’s agenda, Banks say awaiting guidelines on existing borrowers after rate cap, FEC approves 2017-2019 MTEF, targets 3% economic growth in 2017, MARKETS WRAP: JSE ends weaker in cautious trade ahead of Yellen speech, Rand weakens again as Gordhan’s possible prosecution looms, Oil prices up nearly 1% on soft dollar, Opec speculation, MAN seeks reduction of interest rates, review of export scheme, Banking stocks fall after lending rate cap, Bonds are stable, but higher yields are expected
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JSE jumps 1.3% as risk-on sentiment boosts banks, Consumers Are Resisting Price Increases in the Retail Market - FDC, MPs rescind move to throw out Sh5bn core capital cap for banks, Banks say rate cap to lock out 40pc of new borrowers, Rand holds still as US jobless claims steadies dollar, High lending rate rattles manufacturers, cripples biz growth in Nigeria, Brexit decision hits diaspora remittances to Nigeria, others, Retail sales growth hits low gear in tight times
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South Africa, Nigeria, Kenya.
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Zambia re-elect President Lungu, KPMG disagrees with South Africa's economy overtaking Nigeria, Safaricom recorded Sh13.1b Inflow of Money from Kenyans in the Diaspora via mesa, Nigerian Security Exchange Commission says Crowdfunding won't work in Nigeria for now because of lack of appropriate regulatory policy, Nema ignores Treasury cap directive, sets risk-based audit fees, Oil extends gains above $44 on output freeze hopes, MARKET WRAP: JSE dragged to weak close by platinum and gold stocks, South African Bonds little changed as traders await US data
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How do African films tap into the box office network and gain more returns on their investment. (due to technical problems, interviews for this episode where disrupted and have been moved to next week)
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Multinationals, tea pickers lock in fight that threatens the industry, Value Of Trading On NSE Rises By 49% To N78bn In June, Fitch expects Brexit to have limited effect on SA, Manufacturers Lose N348.6bn To New Forex Policy, CBK now moves to Appeal Court in bid to stop Sh5bn claim, Forex reserves dip by Sh28bn as CBK fights to stabilise shilling after Brexit, Oando Announces N4.1bn Profit For Q1, Confusion reigns for banks on new decision to tax fees in Tanzania, Oil Slump: Taxation Is Nigeria’s Future – LIRS Boss
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10 Brokers Traded N98.430billion Shares In June, Kenya banks on saccos to lift growth of coffee, cotton, Tshwane meter case back in court, Gas Investment Deficit Denies Nigeria 40,000MW Of Electricity, Famous Brands spots gap, buys ‘practically unused’ tomato paste factory, Insurance fraud costing Kenyans dearly, says firm, JSE looks set for gains as global Brexit recovery continues, FG Earns N724bn From Oil In Three Months, Rwanda multiplies import duties on used items, Rotich’s taxes on locally made cars put 10,000 jobs at risk
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Russian firm pulls out of Uganda’s $4 billion oil refinery, FG To Borrow N395bn Via Bonds, Barclays Africa appoints Peter Matlare as its deputy CEO, Power: FG Eyes Offshore, Inland Basin Gas Reserves, African Bank offers to buy back $500m of bonds, Vodacom CFO to replace Safaricom's finance chief, Taxi-hailing app Taxify sets up operations in Nairobi, New Code Will Separate Roles Of Chairman And CEO – NCC
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Old Mutual to retain ‘strategic minority stake’ in Nedbank, Stocks: Analysts Expect Cautious Trading This Week, Fish firm denies owing fallen Imperial Bank Sh10bn, British shares bounce back a little from Brexit dive, NSE facilitates N11tn securities investment in 10 years, Royal Bafokeng and Liquid Telecom to buy stake in Neotel, Small-scale farmers to start paying income tax, President Jacob Zuma arriving in Botswana last night, ahead of the SADC Double Troika scheduled for 28 June 2016
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Energy investors’ big plans for Africa, Shareholders block transfer of Imperial Bank assets to NIC, Nigerian firm cuts gas supply to Ghana, M Oriental Bank cuts out ATMs as it sets sights on family businesses, CIS endorses CBN’s floating exchange rate policy, SABMiller is seen as a cut above its proposed parent company, NPA boss foresees 2016 revenue rising as naira floats, German airline launches second Mombasa flight
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Level of violence in Tshwane ‘not anticipated’ says David Mahlobo, FG To Raise Foreign Borrowing To 40%, Liquidation looms with NIC set to take over Imperial Bank, Vodacom recruit a dilemma for MTN, Rising inflation may sink JSE, NNPC targets profitability by end of 2016, IMF wants interbank interest rate controlled
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Financial Institutions Key To SDGs Attainment – Minister, How piling debt is taxing economy, Relief for Imperial Bank depositors as NIC takes charge, Nigeria’s economy attracts $77bn foreign investments in six years, Treasury calls for carbon tax comment in South Africa, CAP Plc records improved results, pays N1.645bn dividend, Airtel wins Sh531m tax demand case
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Investors braced for Brexit referendum, Stock Market Maintains Upward Streak, Rallies 8% In 3 Days, US urged to take lead from SA in dealing with brewers’ merger, Uchumi set to shut down over debts, EU Woos Nigeria With N1.4tn EPA Offer, 600,000 face hunger as drought hits West Pokot, British firms could relocate here, Davies quips, NNPC Unpaid Bills Hit $1.8bn, New KCC sponsors 88 farmers for tour to boost production
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Government working hard to promote confidence in the economy – Zuma, Ghana's purchasing power among the lowest in Africa, CBN Empowers Entrepreneurs, Commences Training For YEDP Applicants, Andela Raises $24 Million From Mark Zuckerberg And Priscilla Chan's Fund To Train African, Senate constitutes committee to probe non-remittance of N1tn by NNPC, Five airlines express interest in buying majority stake in KQ, Malema says EFF is not fighting against white people, Trade ministry drafts rules for commodities exchange, Stocks gain as CBN says market will determine naira rate
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Rwanda economy grows by 7.3pc in first quarter, Sliding economy puts brakes on retail sales, FG of Nigeria secures N90bn conditional loan for states, Oil prices drop further on supply, Britain EU exit fears, Germany, China eye joint business efforts in Africa, Asia, SA has huge wind energy potential, says Nordex, Nigeria allows naira to float against US dollar
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Constitutional Court clears the way for August 3 elections, World Bank releases $39m for Madama projects, Table motion on poll reform, MPs told, Nkandla architect and top public works officials to escape prosecution, No respite for capital market this week – Analysts, Armscor charter aims to boost market access, Lufthansa steps up focus on Nairobi route, Big malls eye SMEs as competition for tenants hots up
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E-tolls may be fairer but World Bank has doubts about future, Local Firms Pay More For Gas Than Foreign Buyers, Stocks plunge further amidst bleak economic outlook, Longhorn acquires majority stake in Law Africa Publishing, NCIC to summon Moses Kuria, Kimani Ngunjiri, FG generates N586.17bn from taxes in 90 days, Ireland exports to Kenya increase to Sh10bn, Nonexecutive directors paying double tax: your troubles may soon be over
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Safaricom to launch Uber rival taxi app service, Nigeria can earn $100bn annually from non-oil sector – Awolowo, Easing inflation gives Lesetja Kganyago a little more wiggle room, Govt scraps porting fees for mobile phone users, US, Indian refiners shun Nigeria’s oil amid outages, Poor economy fuelling protests and criticism, says ANC, Tiger says exit from Ethiopia does not signal a retreat from the rest of Africa, NNPC lost N19.43bn in April – Report
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Rotich waited for an hour to read the budget speech, BoI disburses N83.5bn to 776 enterprises in 2015, posts N44.7bn profit, World Bank Cuts 2016 Global Growth Forecast To 2.4%, Oil Hits 2016 High On Nigeria Supply Disruptions, Africa needs a skills revolution, says Dlamini-Zuma, Ramaphosa urges action as GDP shrinks, Inflation bites into house price increases, No more cuts during network maintenance, says Kenya Power, Al-Shabaab raids Ethiopian army base, South Africa terror alerts spark diplomatic tensions, Without a Cabinet, Museveni reads own budget as opposition protests
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Zambia shortlists bidders to build two large-scale solar plants Low Cost Private School Firm Bridge International Keen On Liberia Despite Opposition Brainworks Takes Over Nettcash Zimbabwe Funds transfer: WorldRemit partners with MTN in Ivory Coast KFC closes all shops in Botswana – press statement Letshego sets up Sh16bn mortgage for low-income housing in Kenya Chemelil Sugar Company Kenya is insolvent, says Ouko in audit report IATA calls on Venezuela, Nigeria to release foreign airline revenues Trade Union Congress (TUC) to acquire 57% stake in Unity Bank Nigeria GSK Nigeria seeks shareholders approval to sell Lucozade, Ribena Access Bank Partners Wapic, Ghana Life For Bancassurance Ghana’s ADB Confirms Investor Refund After Rejected Share Sale Ghana Cocobod to Start $2b Syndicated Loan Roadshow This Month U.S. Blockchain App To Launch Public Ledger For Real Estate In Ghana Ghana Military obtains license to operate Savings & Loans company Mahindra mulls local assembly in South Africa Naspers invests $60 million in online-learning company Udemy to expand global reach Uber Starts in Uganda to Add Fourth Sub-Saharan Africa Market Uber gets $3.5bn investment Kibo, Lake Victoria to consolidate Tanzania projects Angola President Appoints Daughter as Head of State Oil Firm Majority stake sought in Moz limestone project Germany’s DEA May Sell its Stake in Egypt Oil Fields: Mal Helio Resource Corp and Damara Merge Namibian Interests into Osino Resources Corp African airlines set to lose $500m in 2016 Tourists around the world spend estimated $1.2b in 2015
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We do a round up of major business stories that came from across Africa during the week between Monday 23rd to Friday 27th May 2016.
With fuel price hike, food prices go haywire in Nigeria MMI Holdings Limited increases its stake in United Metropolitan Nigeria Life Insurance Limited to 100% Nigeria Sees Growth of 4% in 2017 After Reforms Lagos Consortium Agree to Construct N844 Billion 4th Mainland Bridge Alexandria Cement ,Egypt obtains LE150m loan from HSBC CIB,Egypt extends SPA period for CI Capital deal till June 9 Kenyan Investors Urge President, Opposition Talk on Elections Texton buys two property portfolios in South Africa and UK BTG Said to Seek Sale of Stake in Petrobras, SA Joint Venture Orange, SA Said to Mull Bid for Some Millicom Assets in Africa The South Africa Foschini Group Paid 4.4m Pounds for U.K. Chain Whistles Botswana Government to Sell BCL Mine to Strategic Partner Ugandan Power Distributor Umeme Seeking Funds To Invest On Network £2bn set aside for solar energy in Africa Banks in Ghana struggle to mobilise deposits Development Bank says continent far from debt crisis Relief for Kenya's Uchumi Supermarket as six suppliers agree to withdraw KCB, Kenya Q1 net profit up 6pc as bad debts jump AfDB Urges African Economies to Rapidly Diversify Exports Angola Trade Balance Remains Vulnerable to Oil Prices, BMI Says
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Kenyan milk prices second highest in Africa, World Bank lauds Ghana's Prof Eric Danquah, Nigeria suspends talks with MTN, Too Late to Revive Bulawayo Textile Industry, Malawi to Have New Chileka Airport, Kia Terminal to Be Refurbished, SA’s creditworthiness under scrutiny by S&P, Nigeria faces recession as GDP shrinks,
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Ghana businesses asked to take advantage of tax reforms to maximize returns, Junior workers bleed KRA as probe targets managers, After Ebola outbreak, World Bank creates 'pandemic insurance plan', FG to set deadline for NNPC, refineries’ privatization, Government to limit farm sizes to speed up land reform, CBN disburses N55bn to 24 power firms as FG seeks improved supply
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Bank of Ghana stays policy rate at 26%, says economy turning the corner, Nigeria: Fuel Price Hike - Reps Ask NLC to Suspend Planned Strike, to Meet Labour Leaders, Rwanda opens pioneering methane electricity plant - will also reduce of natural disaster, Gauteng begins licensing Uber driver partners as company plans for new jobs from food to parcel deliveries, Organisations seek Nema approval to grow GMO crops,
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Moody’s downgrades Nigeria’s Sovereign Issuer Rating to ‘B1’, US urges Ghana not to miss out on $500m MCC compact, Gordhan confident of meeting fiscal targets, DTB raises stake in Uganda unit with Sh1.1bn injection, Kenyan MPs to vote afresh for gender Bill, Nigeria’s Manufacturing Index declines in April, South Africa's PIC to invest $4.7 billion and stimulate jobs, growth, C. African Republic’s capital exposed to severe power outage
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Nigerian Interbank rate falls on budget, treasury bill funds, Kenyan Banking industry growth stagnates as lenders go down, South Africa relaxes visa rules for Kenyan travelers, third African Islamic Finance Summit in Dar es Salam - Tanzania on May 19-20, 2016, Chase Bank clients take out Sh1.6bn in three days, Rand worst performer as commodities slump, Investment Opportunity: Ivory Coast Electricity, Water Monopoly Could Be Ending
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Ethiopia close to kick-starting $150b green economy, Mauritania gold rush: Diggers require official authorization, South Africa delegation poised for economic forum in Rwanda, Panama Papers: Liberia Defends Its Record As A Tax Haven, UN Security Council to visit Somalia, Loans window opens for Chase Bank clients, Aviation passenger traffic in Nigeria dipped by 0.4% in Q4 2015, Solar energy could earn Ghana $38m yearly
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South Sudan asks Nairobi court to release frozen funds, African Revenue Service (SARS) to exempt foreign e-commerce form value added tax (Vat), Nigerian Federal Government commenced Preparation for 2017 budget, Business mogul founds party to challenge Bongo rule in Gabon, Mall of Africa quiets down after launch madness, Two institutions sign $50m credit agreement to finance trade between Arab and African countries, Further rise in inflation in Nigeria imminent as economy hurts
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Remittances to Ghana estimated at $2b in 2015, Zimbabwe to probe 7 companies over looted diamonds, Ethiopia secures $98m for transmission project, President Uhuru announces Sh6bn Pan Paper revival plan, World Bank gives Kachikwu thumbs up on NNPC reforms, Barclays Tanzania picks new chief executive, Oil hits 2016 high due to falling output, weaker dollar
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Mixed bag of fortunes as Chase Bank opens doors to customers, World Bank raises 2016 oil price forecast to $41 per barrel, Coffee price drops 17 per cent as crop season ends, 33.7 million Nigerians can’t access telecoms services – NCC, S/Africa still Botswana’s main goods supplier, Swaziland’s fruits, vegetable prices up by 80 percent, Atlas Mara says it is considering bid for Barclays' Africa unit, France seeks to re-establish business footprints in Ivory Coast, Is Mozambique The Greece Of Africa? A Fishy Tale Of $1B Hidden Debt, Banks record lower impairment charges as risk management improves.
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World Bank President arrives Nigeria, South Africa celebrates 22nd Freedom day anniversary, Kenya's former first lady Lucy Kibaki dies in London, Mall of Africa’s opening adds to SA’s oversupply of shopping centre space, Ghana has third highest interest rates in the world, NTV reality show to help Kenyan start-ups attract funding, Chinese company to build R11bn motor plant in Port Elizabeth
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Kenya reviews tea taxes to boost main foreign exchange earner, FG failure to issue infrabond holds back N500b pension fund, President Mahama swears-in Bank of Ghana Governor, National Bank of Kenya on the spot over failure to reveal sacking of CEO, DRC eyes membership of E/African railway project, Jordan's exports to Africa account for 2.2% of total exports: Minister, More than $80 billion leaves Africa illicitly – Mbeki
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EAC states seek common policy to run pension schemes, Poultry farmer accuses retailers of ‘economic racism’, Malaria vaccine to be introduced in Africa soon, CBN provides rice farmers with N4.9bn loan, Kenya’s Cabinet gives nod to new mining policy, Uganda: Proposal for return of graduated tax opposed, CAR President wants arms embargo lifted, Forex scarcity encouraging local production —CBN gov etc
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Ghana falls in press freedom index as situation of journalists worsens, Clarke Energy to supply Tanzanian milling Co with natural gas, Open Gupta accounts or we will lose our jobs: Oakbay staff, Infrastructure is critical to AgriBusiness in Africa, Kenya Airways set to fly to Cape Town, German investors eyeing Namibian, Kenya Woos German Investors, Botswana to sensitize nation on AGOA opportunities etc
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Municipalities to increase electricity tariff by 7.5%, Dangote Cement excites shareholder by performance, China helps Ghana legislature with security upgrade etc
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South Africa warns tax dodgers saying no more amnesty, East Africa benefits from famine in Malawi, Stalled Mombasa-Nairobi Pipeline set to overshoot budget, Real Estate investment on the Outskirt of Nairobi becomes more lucrative as land prices soar, Nigeria reject IMF proposed solution to economic challenges, Allan Gray banking on Former Finance Minister Nene's experience etc
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Malawi declares National disaster as food shortage looms, President Kabila's future uncertain as DRC MPs requested court ruling, AfDB President visits South Africa, Petrol price drops to six-year low in Kenya, Ghana inflation rate for March 2016 is 19.2%, IMF Christine Lagarde requested that Nigeria should seek help from IMF, Nigeria loses $700 Million Monthly on Crude oil shipment.
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SADC moves on industrialisation of the region, South African Consumer confidence recovers slightly, AGRA draw up a $31m business plan for Ghana, East African Community's Vision of a single currency, News vessels expected as fuel scarcity lingers in Nigeria, Barclays Africa to Negotiate for name after parent's exit, IMF lowers SA's growth outlook for 2016 etc
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World Bank implicated in the Panama Papers leak said to be investing in companies linked to tax havens as reported by Oxfam, Ghana offers Nigeria $6bn infrastructure loan, Nedbank and CIPC team up for online service, World Bank reports that Low commodity prices will continue to negatively impact growth in Africa, Former Governor of The Central Bank of Kenya to be problem over banking crisis, South Sudan rebel deputy arrives in Juba, Bank of Ghana to fight inflation and boost growth, Kenya to fight fraud within the Insurance sector etc
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World Bank lowers 2016 growth projections for Sub-Saharan Africa, Chief urges the Government of Ghana to invest in cotton, President Mbeki hails court judgement against President Jacob Zuma,Nigerian Government eyes N1tn JV funds to finance budget deficit, New rules on capital to see more mergers within the insurance sector in Kenya, Credibility of Darfur referendum in doubt.
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Africa's richest man denies link to four shell companies as revealed by leaked Panama papers, Nigerian refineries lose N14bn in one month, Tanzania to export electricity to Kenya, Ghana's President denies loosing investment to Cote de voire , Major SA banks drop Gupta owned Oakbay investment group, Africa Union order probe into tax havens following the Panama leak
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SA Business Confidence continues to rise, 800 Boko-Haram surrender to the Nigeria Military, Momentum gathers to remove President Jacob Zuma, Angola/Japan to build first Africa-South America under sea fibre cable, AngloGold Ashanti to shut down operation in Ghana, Benin sworn in new President - Patrice Talon, Rep to send budget details to President Buhari this week etc
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Franc Minister to meeting in Yaounde, SA Minister orders probe into panama leak, Canadian mining company evaded taxes in Tanzania, Ghana issued first onshore license, MPs want cartels off coffee chain in Kenya, Market sheds N1.1tn in three months on bleeding banking sector in Nigeria.....
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SA Apex Bank to raise interest rate, African Public Officials implicated in Panama papers, EAC has the highest integration index in Africa, Nigerian airpots are 96% safe from terrorist attacks, SA revenue agency collect more than $600 million in 2015/16. etc
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Topical business headlines from across Africa this morning; a closer look at the panama leaks and African millionaires that have been implicated, South African Corporate turns their back on Guptas and more.
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Business headlines across Africa.
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Business Headlines from all across Africa Friday 01/04/2016. www.africabusinessradio.com
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