News

Friday, 09 December 2022 05:56

DSS threatens to ‘takeover’ if NNPC, oil marketers don’t end fuel scarcity in 48 hours

Department of State Services (DSS) has given a 48-hour ultimatum to the Nigerian National Petroleum Company (NNPC) Limited and oil marketers to resolve the ongoing petrol distribution crisis. Peter Afunanya, DSS spokesperson, said this on Thursday after a meeting with stakeholders at the headquarters of the service. Afunanya said the secret police would commence operations across the country if the queue persists at various filling stations after the deadline. He said the petrol scarcity affects the country’s security. He said NNPC agreed that there is enough product that will serve Nigerians during and after the Yuletide season. Stakeholders at the…

Friday, 09 December 2022 05:56

States fault sharing of electronic money transfer levy to LGs

The body of attorneys-general of the states (BOAGS) of the federation has criticised the federal government over the distribution of funds derived from the Electronic Money Transfer Levy (EMT). The revenue derived from the EMT levy is shared based on the derivation and distributed at 15 percent to the federal government and federal capital territory, 50 percent to the state governments, and 35 percent to the 774 local governments. However, in a communique issued after a meeting held in Asaba, Delta State from November 30 and December 2, the BOAGS described the sharing formula as “incorrect”. The attorneys-general stated that…

Friday, 09 December 2022 05:55

Nigeria, 3 other African countries account for half of global malaria deaths - WHO

Malaria-related deaths fell slightly in 2021 after a significant increase in the first year of Covid-19, but remained higher than the pre-pandemic estimated toll, according to a World Health Organization (WHO) report on Thursday. Estimated deaths from malaria globally declined to 619,000 last year from 625,000 in 2020 as healthcare services stabilized after pandemic-led disruptions, especially in Africa where the disease is most prevalent, the WHO stated in its World Malaria Report 2022. The number of deaths, however, remained higher than the estimated 568,000 in 2019. Four countries - Nigeria, the Democratic Republic of the Congo, the Niger and Tanzania…

Friday, 09 December 2022 05:54

What to know after Day 289 of Russia-Ukraine war

RUSSIAN PERSPECTIVE Trump fumes over ‘embarrassment’ for US Trading a high-profile prisoner for a basketball player while leaving a Marine in a Russian prison is an embarrassing and stupid deal, former US president Donald Trump said on Thursday, as the ruling Democrats praised the swap as a triumph for black and LGBT Americans. “What kind of a deal is it to swap Brittney Griner, a basketball player who openly hates our Country, for the man known as ‘The Merchant of Death,’ who is one of the biggest arms dealers anywhere in the World, and responsible for tens of thousands of…

Thursday, 08 December 2022 05:46

New security measures push Nigeria’s oil production up to 1.6m bpd - NNPCL

Nigeria’s oil production rose by 350,000 barrels per day to 1.6 million amid reduced oil theft, the chief upstream investment officer of NNPC upstream investment management services, Bala Wunti, has said. Wunti said this on Wednesday during an interview on Arise TV’s Morning Show. Nigeria for months failed to meet OPEC production quotas due to massive oil theft and other production challenges. The federal government in its recent draft fiscal strategy paper for 2023 through 2025 said that oil revenue underperformed due to significant production shortfalls such as shut-ins resulting from pipeline vandalism and crude oil theft. In a bid…

Thursday, 08 December 2022 05:45

Buhari gets Guinea Bissau’s highest national honour, streets named after him

President Muhammadu Buhari Wednesday reaffirmed the commitment of Nigeria to work with Guinea Bissau and other countries towards sustaining and strengthening democracy and good governance in the sub-region and the entire African continent. Buhari gave the assurance in the course of a one-day State Visit to the embattled West African country, giving words of encouragement to the people of the country for standing with the democratically chosen administration of President Umaro Sissoco Embaló against threats by undemocratic forces. The president welcomed the conferment of the country’s highest national honour, the Amilcar Cabral Award, upon him and the naming of a…

Thursday, 08 December 2022 05:41

What to know after Day 288 of Russia-Ukraine war

WESTERN PERSPECTIVE Russian President Vladimir Putin has acknowledged that his army could be fighting in Ukraine for a long time, but for now there will be no second call-up of soldiers. FIGHTING * Russian shelling killed 10 people and wounded many others in the town of Kurakhove in eastern Ukraine, President Volodymyr Zelenskiy said. * Belarus plans to move military equipment and security forces on Wednesday and Thursday in what it says are checks on its response to possible acts of terrorism, the state BelTA news agency reported. * Twin strikes on air bases deep inside Russian territory have dealt…

Wednesday, 07 December 2022 04:14

CBN advances cashless economy as apex bank tightens screw on cash withdrawals

Central Bank of Nigeria (CBN) has pegged maximum over the counter (OTC) cash withdrawal per week for individuals at N100,000 and N500,000 for corporate organisations. The apex bank also limited individual Point of Service (POS) to N20,000 per day. This is is contained in a circular by the CBN and addressed to all Deposit Money Banks (DMBS) and Other Financial Institutions (Payment Service Banks (PSBs). Primary Mortqaqe Banks (PMBs) and Microfinance Banks (MFBs). The circular dated 6th December, 2022 was titled Naira Redesign Policy – Revised Cash Withdrawal. It was signed by the Director, Banking Supervision Haruna Mustafa The circular…

Wednesday, 07 December 2022 04:12

NBA boycotts call to Bar over dispute with Wole Olanipekun

Nigerian Bar Association (NBA), yesterday, boycotted the Call to Bar ceremony organised by the Body of Benchers (BoB) where 4,711 new lawyers were admitted into the legal profession. The ceremony was presided over by the Chairman of the Body of Benchers, Wole Olanipekun, who the NBA had asked to step down. The association in a statement by its national president, Yakubu Maikyau, said its decision to shun the ceremony was based on the refusal of Olanipekun to resign. In a letter equally copied to the Chief Justice of Nigeria (CJN), Olukayode Ariwoola, NBA asked Olanipekun to step aside as leader…

Wednesday, 07 December 2022 04:12

Why sanctions against Russia aren't working

When Russia invaded Ukraine in February of this year, the international community slapped a raft of sanctions on the invading nation. They froze the assets of wealthy and powerful Russian citizens, and they restricted their ability to travel. They restricted the sale of Russian raw materials and energy and worked to prevent Russia from getting its hands on various kinds of defense and information technologies. And they imposed financial sanctions on Russian banks and curtailed Russia's access to foreign capital and financial markets. Many corporations followed up on these government-imposed sanctions with so-called self-sanctioning, whereby companies restricted or halted commercial…

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Wednesday, 07 December 2022 04:11

What to know after Day 287 of Russia-Ukraine war

WESTERN PERSPECTIVE A third Russian airfield was set ablaze by a drone strike, a day after Ukraine demonstrated an apparent new ability to penetrate hundreds of kilometres into Russia with attacks on two air bases. FIGHTING * Ukraine's military intelligence chief said Russia had enough high-precision missiles to conduct several more big air strikes on Ukraine before it runs out of stocks. * Russian Defence Minister Sergei Shoigu said Ukraine was continuing to shell the Zaporizhzhia nuclear power plant. Ukraine denies shelling the Russian-controlled facility. * Ukrainian President Volodymyr Zelenskiy visited troops close to front lines in the eastern Donbas…

Tuesday, 06 December 2022 05:46

Nigeria to pay extra N9trn on foreign debts due to Naira devaluation - Report

The value of naira to dollar fell from N196.92 in June 2015 to N414.72 in June 2022, worsening Nigeria’s foreign debt burden. Within the seven years under review, the naira depreciated by 52.52 per cent against the US dollar. The Monthly Average Exchange Rates of the Naira (Naira Per Unit of Foreign Currency) for 2015 document obtained from the website of the Central Bank of Nigeria shows that one dollar was N196.92 for Inter-bank Foreign Exchange Market. The exchange rate for one dollar as of June 30, 2022, was N414.72, according to the figure provided by the CBN. In the…

Tuesday, 06 December 2022 05:44

Lagos leads, Bayelsa least as NIN enrolment hits 92.6m

National Identity Management Commission (NIMC) says 92.6 million Nigerians have been enroled into the national identity number (NIN) database. According to the latest data released by the commission, Lagos and Kano are the top states in Nigeria with the highest enrolment. NIMC’s enrolment figures, as at January this year, were 72.7 million and in November, 2022, the number increased by 19.9 million to 92.6 million. In terms of gender distribution, the data revealed that 52.1 million, representing 56 percent of Nigerians so far captured in the NIN database, are male; while 40.5 million, representing 43 percent are female. Further analysis…

Tuesday, 06 December 2022 05:42

NUC adds ICT, Data Science, others to university curriculum

National Universities Commission has introduced Cybersecurity, Data Science, Information and Communication Technology, Computer Science, Information System, Software Engineering as new programmes into the Nigerian university system. This was disclosed in the breakdown of new courses exclusively made available to our corespondent in Abuja on Monday.NUC on Monday unveiled a new curriculum for universities. It would be recalled that NUC in 2021 inaugurated a committee of experts drawn from various disciplines in Nigerian universities to create the new Core Curriculum and Minimum Academic Standards for universities. According to the Executive Secretary of the NUC, Abubakar Rasheed, the new curriculum, Core Curriculum…

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