WHO asks people who are fully vaccinated to continue to wear face masks

WHO asks people who are fully vaccinated to continue to wear face masks: Wearing a mask consistently continues to be important, even for people who are vaccinated, WHO Assistant Director-General Mariângela Batista Galvão Simão said during a press briefing on June 25.

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Why I am vying for the position of Lagos NIPR chairman

Why I am vying for the position of Lagos NIPR chairman: I am in the race to win, but not desperate nor feel entitled. I believe that service is paramount in my agenda and that can only be executed with clarity of purpose devoid of any maneuvering.

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Shippers’ Council seals cargo consolidator firm APMDC over alleged arbitrary charges

Shippers’ Council seals cargo consolidator firm APMDC over alleged arbitrary charges: Nigerian Shippers’ Council (NSC) has sealed the premises of a Lagos-based cargo consolidator, Associated Port & Marine Development Company (APMDC), over

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Cost of electricity subsidy drops to N30 bln from N50 bln ~Power Ministry

Cost of electricity subsidy drops to N30 bln from N50 bln ~Power Ministry: According to a document prepared by the Federal Ministry of Power, the government’s subsidy on electricity had been reduced by N20 billion monthly following improvements in the collection of power tariffs by distribution companies.

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Afrexim to provide Ogun State $200 mln for infrastructural projects

Afrexim to provide Ogun State $200 mln for infrastructural projects: The fund will be dedicated towards projects and other developmental initiatives embarked upon by the government of the state.

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Jimoh Ibrahim fights back as AMCON moves to sell property

Jimoh Ibrahim fights back as AMCON moves to sell property: The Asset Management Corporation of Nigeria (AMCON) and billionaire businessman Jimoh Ibrahim are at daggers drawn over the sale of NICON Hotels.

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Nigeria collaborating with United Nations to improve food security ~Osinbajo

Nigeria collaborating with United Nations to improve food security ~Osinbajo

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Nigeria says terrorism is a major global threat

Nigeria says terrorism is a major global threat: He said that the complex nature of terrorism and other transnational organised crimes required international collaboration to be able to deal with it decisively.

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CBN D/Gov Ahmad tasks Fintech stakeholders on development of robust strategy

CBN D/Gov Ahmad tasks Fintech stakeholders on development of robust strategy: She  urged all stakeholders to invest time and needed resources to the development of the National Fintech Strategy for the overall benefit of users of financial services, the financial system, and the nation at large.

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Oyo Gov Makinde sacks all commissioners

Oyo Gov Makinde sacks all commissioners: The dissolution was said to have been announced during the weekly Council meeting at the Executive Council Chamber, Agodi Secretariat, Ibadan on Tuesday.

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Nigeria’s Senate sets to pass PIB on Thursday, distributes copies to members

Nigeria’s Senate sets to pass PIB on Thursday, distributes copies to members: President of the Senate, Ahmad Lawan said the chamber would “commence passage” of the bill on Thursday.

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Nigeria in talks with banks to raise funding for 20% stake in Dangote Refinery ~NNPC Chief

Nigeria in talks with banks to raise funding for 20% stake in Dangote Refinery ~NNPC Chief: Kyari further said that the NNPC is seeking the authority of the Federal Executive Council to close the deal which he said is worth about $19bn.

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Ghana expects bumper Cocoa harvest as Favourable Weather seen boosting output

Ghana expects bumper Cocoa harvest as Favourable Weather seen boosting output: The Ghana Cocoa Board has revised its production target to 1.1 million tons for the season that ends in September, the people said, asking not to be named as the information isn’t public.

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Nigeria’s central bank admits naira overvalued by 10%

Nigeria’s central bank admits naira overvalued by 10%: Emefiele told an investor call last week arranged by Standard Bank that the spot naira rate of N410-412 per dollar would eventually weaken by 5 percent to 10 percent, according to one person on the call and another who was briefed on it afterward.

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Facebook market cap hits $1 trln after judge dismisses antitrust lawsuits

Facebook market cap hits $1 trln after judge dismisses antitrust lawsuits: Facebook shares rose more than 4 percent after the ruling was issued. The share price rise put Facebook’s market cap over $1 trillion for the first time.

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Nigeria to get new revenue allocation formula by Q4 ~RMAFC

Nigeria to get new revenue allocation formula by Q4 ~RMAFC: The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) on Monday said that a new Revenue Allocation Formula (RAF) will be ready before the end of

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Nigeria places travelers from South Africa on ban list over Covid-19 3rd wave

Nigeria places travelers from South Africa on ban list over Covid-19 3rd wave: “The PSC has been reviewing these restrictions and is of the opinion that they should remain for another four weeks before it is further reviewed. South Africa has, however, been added to this category once more.”

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CBN orders release of 50,000 MT of maize to Obasanjo farms, Olam, 10 others

CBN orders release of 50,000 MT of maize to Obasanjo farms, Olam, 10 others: “The Central Bank of Nigeria, in its bid to moderate and control the prices of maize in the Nigerian market, has approved the release of 50,000 metric tonnes of maize to 12 major producers, from strategic maize reserve under the Anchor Borrowers’ Programme.

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IMF wants COVID Vaccines supply to sub-Saharan Africa speed up

IMF wants COVID Vaccines supply to sub-Saharan Africa speed up: The growth of infections in sub-Saharan Africa is now the fastest in the world, with an explosive trajectory that is outpacing the record set in the second wave.

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Nigeria’s CJN wants new appeal court judges to sustain high integrity in new positions

Nigeria’s CJN wants new appeal court judges to sustain high integrity in new positions: The CJN said their reputation and integrity matter much, adding that their elevation to the Court of Appeal has increased the level of scrutiny on their conduct and disposition.

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Italy proposes African task force backed by US to tackle Islamic State threat

Italy proposes African task force backed by US to tackle Islamic State threat: “With the support of the USA and many other partners, I proposed the establishment of an Africa task force to identify and stop IS-related terrorist threats on the continent,” Di Maio told reporters, standing alongside Blinken.

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Stakeholders seek legislation, executive order to tackle multiple taxations for SMEs

Stakeholders seek legislation, executive order to tackle multiple taxations for SMEs: Speaking at a webinar organised by the Policy Centre of Abuja Chamber of Commerce and Industry (ACCI) to mark the World MSME Day, leading experts in the field posited that the legislation and executive order are urgently needed to enforce harmonised taxation for SMEs as provided in the new national MSME policy.

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Lagos Gov Sanwo-Olu appoints 13-member LASU governing council

Lagos Gov Sanwo-Olu appoints 13-member LASU governing council: According to the governor’s special Adviser on Education, Tokunbo Wahab, in a statement, the appointment was based on the report of the Special Visitation Panel on the appointment of the 9th Vice-Chancellor for the institution.

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CIBN seeks collaboration with Osun State on capacity development

CIBN seeks collaboration with Osun State on capacity development: Olugbemi also canvassed the support of the State Government towards the upgrade of the road network in where higher Institutions located most especially on Block IV A within Osun G.R.A (Phase 1c) as well as the building of the CIBN Osun State Secretariat.

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Health experts raise concern over high rate of drug abuse

Health experts raise concern over high rate of drug abuse: Chief of Staff to the Deputy President of the Senate, Otive Igbuzor, who chaired the event, expressed worry that the rate of drug abuse in Nigeria was about thrice the global average of 5.3 percent.

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NNPC to deduct N114 bln from expected revenue remittance to federation account in June

NNPC to deduct N114 bln from expected revenue remittance to federation account in June: In a presentation by the corporation to the FAAC, on June 22, the data showed that under-recovery or subsidy claims deducted from oil revenues by the NNPC amounted to N25.374 billion in February, N60.396 billion in March and N61.966 billion in April. But it rose astronomically to N126.298 billion in May before falling to N114 billion in June.

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CBN provides N60 bln for one mln meters for mass distribution to electricity consumers

CBN provides N60 bln for one mln meters for mass distribution to electricity consumers: Nigeria's central bank provided a total of N60 billion for one million electricity meters that are meant for free distribution to consumers across the country.

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Boko Haram fighters pledge to join forces with Islamic State ~New Video

Boko Haram fighters pledge to join forces with Islamic State ~New Video: But not all observers are convinced the video is proof that all Boko Haram fighters are ready to join ISWAP.

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Nigeria to start collecting taxes from global tech firms with significant presence ~Osinbajo

Nigeria to start collecting taxes from global tech firms with significant presence ~Osinbajo: Also, international talks are currently ongoing in Paris on global standard rules for governments to receive taxes from such digital and technology firms with significant economic presence in foreign countries.

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Nigeria now 3rd biggest producers of Fertilizer as Dangote plant come on stream

Nigeria now 3rd biggest producers of Fertilizer as Dangote plant come on stream: “Major capacity additions will be from two planned plants Dangote Group Lekki Urea Plant 1 and Dangote Group Lekki Urea Plant 2 with a capacity of 1.50 million tpy each by 2030,” it added.

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SEC sees Pension fund investing big in Islamic Capital Market soon

SEC sees Pension fund investing big in Islamic Capital Market soon: on-interest capital market, he said, has huge potential in Nigeria, adding that it has the prospect of attracting a large pool of untapped investor base with apathy to conventional instruments, to participate in the capital market as well as the existing investors who seek to diversify their portfolio.

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CHURCH BUSINESS: The father’s love

CHURCH BUSINESS: The father’s love: Many of us sure remember our father with fond memories? Why is it so, because there is something about the love of fathers towards their children that separates them from other kinds of love.

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Coca-Cola Nigeria grows E-commerce Sales threefold

Coca-Cola Nigeria grows E-commerce Sales threefold: “We have more than tripled the e-commerce business that we have in our portfolio,” he said without sharing details as the company isn’t listed in Nigeria.

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Port Harcourt refinery rehabilitation is part of efforts to create jobs, alleviates poverty ~Sylva

Port Harcourt refinery rehabilitation is part of efforts to create jobs, alleviates poverty ~Sylva: “So everything we are doing, including the rehabilitation of Port Harcourt Refineries, every other project has as part of it creation of jobs.

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SEC grants licence to Chaka Tech as first fintech stock dealer

SEC grants licence to Chaka Tech as first fintech stock dealer: Chaka, is pleased to announce its recent acquisition of the digital sub-broker/sub-broker serving multiple brokers through a digital platform.

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President Buhari says APC is revived, energised, repositioned for future elections

President Buhari says APC is revived, energised, repositioned for future elections: “We are all witnesses to the crisis that engulfed the party leading to litigations and presented a picture of selfishness and division."

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Aliko Dangote eyes investment in Cameroon oil & gas sector

Aliko Dangote eyes investment in Cameroon oil & gas sector: “We have plans to expand our investment to other sectors beginning with oil and gas,” Dangote told reporters Wednesday after meeting Cameroonian President Paul Biya in the capital, Yaounde.

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Goods in transit to Nigeria stranded at Aflao-Lomé border after Benin Rep closes border

Goods in transit to Nigeria stranded at Aflao-Lomé border after Benin Rep closes border: The Benin authorities had initially claimed that the closure was to enable the government to investigate some of the activities of its Customs Service, a claim that has been faulted as it was discovered that the real reason for the closure was to avenge Nigeria’s border closure last year.

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JAMB releases 2021 UTME results, asks candidates to check using phone

JAMB releases 2021 UTME results, asks candidates to check using phone: Benjamin advised each concerned candidate to check his/her result by sending UTMERESULT to 55019 through the phone number used by each candidate to obtain profile code and UTME registration with the board.

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Nigeria case against P&ID over $10 bln judgment dispute starts Jan 2023

Nigeria case against P&ID over $10 bln judgment dispute starts Jan 2023: The firm, Process & Industrial Developments (P&ID), won a $6.6 billion award from a London court after a 2010 deal for it to carry out a gas project in Nigeria collapsed. The Nigerian government wants to have the award overturned.

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President Buhari postpones medical trip to London

President Buhari postpones medical trip to London: “The medical follow-up visit of President Muhammadu Buhari to the United Kingdom earlier scheduled for today, Friday, June 25, 2021, has been postponed.

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Oyo Governor Makinde to allocate land for CIBN Secretariat

Oyo Governor Makinde to allocate land for CIBN Secretariat: According to the governor, his administration is also planning to equally integrate banks’ Closed-Circuit Television (CCTV), into the state’s security network to improve security within and outside the banking environments.

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ECA to determine how climate change-related risks will impact AfCFTA

ECA to determine how climate change-related risks will impact AfCFTA: “The plan is to present the research at the World Trade Organization (WTO) public forum in September and on the sidelines of COP26 in November, where we will review and discuss how the findings and recommendations can be taken forward,” said Luke.

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Polaris Bank refunds $300 mln NNPC deposits with interest ~CEO

Polaris Bank refunds $300 mln NNPC deposits with interest ~CEO: The managing director explained that part of the strategy adopted in payment of the deposit was to remit it to the Central Bank of Nigeria (CBN) and gave the apex bank instruction to credit the NNPC.

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‘Everything will be fine, Mr. Governor,’ Lagos Information Commissioner tells Sanwo-Olu

‘Everything will be fine, Mr. Governor,’ Lagos Information Commissioner tells Sanwo-Olu: The look on your face did not do enough to hide your astonishment that your name was on the lips of the battling parties, but it did excellently in revealing that you only manage the constant vilification for every thought, or imagination running through people’s minds.

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Access Bank launches women empowerment programme in Nigeria, eight other African states

Access Bank launches women empowerment programme in Nigeria, eight other African states: She explained that the programme would also be opening up to a total of nine African countries – Nigeria, Ghana, Zambia, Rwanda, Mozambique, Kenya, Democratic Republic of Congo, Sierra Leone and the Gambia.”

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President Biya confers Cameroon highest civilian honour on Dangote

President Biya confers Cameroon highest civilian honour on Dangote: President Biya said the landmark honour was conferred on Dangote in recognition of his efforts in the infrastructural development of Cameroon and Africa through his cement plants.

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Insecurity would soon be a thing of the past in Nigeria ~Osinbajo

Insecurity would soon be a thing of the past in Nigeria ~Osinbajo: “The President has recently constituted a committee that will look at the whole security infrastructure with a view to looking at the needs of the military, as well as the police and security agencies.

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President Buhari going back to London on Friday for medical check up

President Buhari going back to London on Friday for medical check up: In March,  Buhari embarked on a 2-week medical trip to London, the United Kingdom and returned on April 15, 2021.

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Africa not winning against COVID-19, seeks rapid access to vaccines ~Continent’s CDC chief

Africa not winning against COVID-19, seeks rapid access to vaccines ~Continent’s CDC chief

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About 350,000 people killed by Boko Haram, ISWAP in Nigeria- UN

About 350,000 people killed by Boko Haram, ISWAP in Nigeria- UN: The toll, given by the U.N. agency in a new study on the war and its impact on livelihoods, is 10 times higher than previous estimates of about 35,000 based only on those killed in fighting in Nigeria since the conflict’s start 12 years ago.

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Malabu Oil $1.3 bln Scandal: Italian court acquits two, unfreezes $98.4 mln assets

Malabu Oil $1.3 bln Scandal: Italian court acquits two, unfreezes $98.4 mln assets: The prosecution itself had asked for the sentences to be overturned after a court in March acquitted the two energy groups in a long-running case revolving around the acquisition of a Nigerian oilfield for about $1.3 billion.

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Why Lagos is issuing fresh N85 bln bonds, taking new bank loan

Why Lagos is issuing fresh N85 bln bonds, taking new bank loan: “So, what we thought is necessary is that we should quickly access the bond market so that we can get it at cheaper rate and it will be for 10 years with two years moratorium,” he added.

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Nigeria 3-tiers share N605.96 bln revenue in May from federation accounts

Nigeria 3-tiers share N605.96 bln revenue in May from federation accounts

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Nigeria targets $2 bln from exports after concession of Kano free trade zone ~BPE

Nigeria targets $2 bln from exports after concession of Kano free trade zone ~BPE: The BPE chief said the zone would be the largest processor of hides and skins and integrated leather apparel & goods processing and major processor of key agricultural goods grains, tomatoes, integrated textile and garment manufacturing.

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WTO Chief, Okonjo-Iweala warns Nigeria, other Africans on danger of rising debt profile

WTO Chief, Okonjo-Iweala warns Nigeria, other Africans on danger of rising debt profile: Okonjo-Iweala observed that the current debt burden pre-dated COVID-19 but was worsened by the pandemic. Noting that “prevention is better than crisis management”, she warned that Africa could not afford to fall into a debt trap again.

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Oil price rises above $76 a barrel, triggers by decline US inventories

Oil price rises above $76 a barrel, triggers by decline US inventories

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Nigeria parliament may fail to pass PIB as stakeholders demand fresh changes

Nigeria parliament may fail to pass PIB as stakeholders demand fresh changes: Among the changes are proposals to publicly sell shares in state oil company the Nigerian National Petroleum Corporation (NNPC) and implement market-based prices for gas to power.

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NNPC says local fuel consumption hits 102 mln liters per day, gear up to fight smuggling, vandalism

NNPC says local fuel consumption hits 102 mln liters per day, gear up to fight smuggling, vandalism: “We all agree that smuggling is not a business that should be condoned because even for deregulated petroleum products, it brings extra cost burden on this country both in terms of safety and security of supply and in securing of foreign exchange.

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Nigeria raises N330.3 bln bonds at auction as yields fall across board.

Nigeria raises N330.3 bln bonds at auction as yields fall across board.: At the auction on Wednesday, investors’ total subscriptions stood at N427.82 billion, while the debt office sold additional N4.50 billion of the 10-year and 15-paper to mandate group on non-competitive bid.

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Forex restriction forces Nigeria Flour Millers to turn to black market to fund imports

Forex restriction forces Nigeria Flour Millers to turn to black market to fund imports: Since then, the central bank has kept a tight rein on currency reserves, managing demand for U.S. dollars by placing wheat and other goods on a list of products that aren’t eligible for foreign exchange.

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Senate to pass N895.8 bln supplementary budget on Tuesday

Senate to pass N895.8 bln supplementary budget on Tuesday: Lawan, who gave the directive after the supplementary appropriation bill passed the second reading on the floor of the Senate, asked the committee to submit its report Tuesday next week.

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NDDC forensic audit reports ready in July, says Akpabio

NDDC forensic audit reports ready in July, says Akpabio: “We have fast tracked the process of constituting the board, but we insist that the most important thing is not just the development of the Niger Delta region but how to reposition NDDC to ensure optimal performance as against the practice in the past.

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Power sector: On meter deployment and higher meter pricing

Power sector: On meter deployment and higher meter pricing: Higher meter pricing will likely weigh on the NMMP’s effectiveness, even as the majority of end-users remain unmetered and Discos continue to charge estimated bills.

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Deconstructing the Presidency’s mind on national issues

Deconstructing the Presidency’s mind on national issues: First, the position of Shehu or the so-called presidency on naira valuation is strange in the sense that the President himself was once an advocate of strong naira. In 2015, Buhari advocated the sustainability of the value of the local currency against the dollar and it took his absence from the scene due to ill-health for the then acting President, Yemi Osinbajo, to approve the deregulation of the forex market.

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World Bank to increase spending on climate change to 35%

World Bank to increase spending on climate change to 35%: Environmental campaigners took aim at the new plan on Tuesday, saying its failure to completely end fossil fuel investments undermined the broader goals.

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Dangote to start fertiliser exports to US, Brazil early July

Dangote to start fertiliser exports to US, Brazil early July: “Apart from meeting the domestic demand, we are going to be able to earn quite a lot of money exporting the goods to the South American countries,” he said.

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Nigeria plans private equity fund to mobilise money for poverty alleviation scheme

Nigeria plans private equity fund to mobilise money for poverty alleviation scheme: President Buhari reiterating his commitment to lifting 100 million Nigerians out of poverty in ten years, with a well-researched framework for implementation and funding.

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ECOWAS court bars Nigeria from prosecuting Twitter Users

ECOWAS court bars Nigeria from prosecuting Twitter Users: The non-governmental organization has filed a suit against the suspension of Twitter and the criminalization of its users in Nigeria, and a hearing is scheduled for July 6.

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Nigeria to pay Bayelsa $951 mln 13% derivative arrears after court judgment

Nigeria to pay Bayelsa $951 mln 13% derivative arrears after court judgment: It would be recalled that the Akwa Ibom, Bayelsa and Rivers States government had sued the AGF at the Supreme Court, demanding an upward adjustment of the shares of revenues accruing to the Federal Government whenever the price of crude oil exceeds $20 per barrel.

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Private jet owners shun customs calls for verification as only six submit papers

Private jet owners shun customs calls for verification as only six submit papers: More than 100 private planes are said to operating in the country – many of them owned by the country’s growing number of rich businessmen and women.

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Again, UAE bars Nigerians from traveling to Dubai, others emirates

Again, UAE bars Nigerians from traveling to Dubai, others emirates: In a travel advisory by the Emirate Airline on Monday, the UAE carrier said “In line with government directives, passenger flights to and from Nigeria (Lagos and Abuja) are suspended with effect from 21 June 2021 until further notice.

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Nigeria will continue to engage private sector, improve business environment

Nigeria will continue to engage private sector, improve business environment: According to Vice President Yemi Osinbajo, “the private sector is the engine of growth, there is no way the Federal Government can do anything in the economy without the private sector.”

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Ecobank Nigeria elevates 26% of core staff to new level

Ecobank Nigeria elevates 26% of core staff to new level: According to a statement signed by the Managing Director, Patrick Akinwuntan, the promotion is targeted at recognizing and rewarding employees for their efforts and commitment, stressing that it was also in alignment with the unrelenting desire of the bank to grow its people.

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Doctors Without Borders warns of impending food crisis in Nigeria, Niger

Doctors Without Borders warns of impending food crisis in Nigeria, Niger: This year, said MSF, there has been a sharp increase in the number of severely malnourished children at its facilities in the region — up 34 percent on the same period in 2020.

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Nigeria’s naira weakens again at parallel market, down to N500/$, falls 0.16% at NAFEX

Nigeria’s naira weakens again at parallel market, down to N500/$, falls 0.16% at NAFEX: The naira was quoted at N411.67 to the dollar on the Investors and Exporters’ (I&E) window also known as NAFEX against the last close of N411 a dollar.

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Nigeria, 3 others may become regional COVID vaccine manufacturing hubs ~WTO

Nigeria, 3 others may become regional COVID vaccine manufacturing hubs ~WTO: “We have now seen that over-centralization of vaccine production capacity is incompatible with equitable access in a crisis situation,” Okonjo-Iweala said on Monday during a virtual meeting.

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How Fake Bureau de change operator duped a businessman of N12.7 mln ~EFCC

How Fake Bureau de change operator duped a businessman of N12.7 mln ~EFCC: “The complainant needed $60, 000 (USD) for the trip and the defendant sent his brother, Aminu Amadi’s bank account details to him to pay the naira sum for the exchange.

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Local automaker PAN bemoans reduction in import duty on tokunbo vehicles

Local automaker PAN bemoans reduction in import duty on tokunbo vehicles

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Ghana cocoa board raises more debt after more than projected harvest

Ghana cocoa board raises more debt after more than projected harvest: The regulator, which is the only buyer of the chocolate ingredient in Ghana, typically borrows from overseas banks but the 2020-21 production has exceeded target, stretching the $1.3 billion syndicated loan that was raised at the beginning of the season in October.

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Nigeria earns N80 bln from solid minerals sector in 2019

Nigeria earns N80 bln from solid minerals sector in 2019: “The 2019 earnings accounted for 16 percent of the total revenues of N496.28 billion that have accrued to the Federation, from the sector, over a period of 13 years (2007 to 2019).

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Nigerian exchange suspends trading on GTbank shares ahead of Holdco listing

Nigerian exchange suspends trading on GTbank shares ahead of Holdco listing: The move, according to the bourse was necessary to prevent trading in the shares of the bank ahead of the eventual delisting of GTB to pave way for the listing of the proposed holding company (Holdco), Guaranty Trust Holding Company Plc on NGX.

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Goldman Sachs expands transaction bank to UK

Goldman Sachs expands transaction bank to UK

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Nigeria, two others to benefit from IKEA, Rockefeller $1 bln support for renewable energy

Nigeria, two others to benefit from IKEA, Rockefeller $1 bln support for renewable energy: “This can be commercially viable. There’s $1 billion taking risk upfront, and that can unlock tens of billions of dollars,” the report quoted Rajiv Shah, president of the Rockefeller Foundation.

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West African nations to launch single currency in 2027

West African nations to launch single currency in 2027: “Due to the shock of the pandemic, the heads of state had decided to suspend the implementation of the convergence pact in 2020-2021” Brou said.

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Nigeria travelers to Dubai to undergo two Covid tests, as UAE bars 3 countries

Nigeria travelers to Dubai to undergo two Covid tests, as UAE bars 3 countries: However, travelers from Nigeria must only present a negative PCR test taken 48 hours prior to departure and will also undergo another PCR test on arrival in Dubai, WAM added.

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Nigeria’s Egbin Power Firm Seeks $1.8 bln to expand output

Nigeria’s Egbin Power Firm Seeks $1.8 bln to expand output: “The plan is to raise the fund to be available to kick off,” it said in an email, without giving more details as the funding arrangements are being firmed up.

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Owners of Container ship that blocked Suez Canal in March move to settle Egypt over compensation dispute

Owners of Container ship that blocked Suez Canal in March move to settle Egypt over compensation dispute: The Suez Canal Authority (SCA) demanded $916 million in compensation to cover salvage efforts, reputational damage and lost revenue, before publicly lowering the request to $550 million.

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Three students of FGC Yauri die after abduction by bandits

Three students of FGC Yauri die after abduction by bandits: The two girls and a boy were found dead, two with gunshot wounds in their legs, said Mustapha Yusuf, principal of the federal government college in the remote town of Birnin Yauri in northwest Nigeria’s Kebbi state.

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Ogun State IGR hits N13.3 bln in Q1 2021

Ogun State IGR hits N13.3 bln in Q1 2021: The government said it is also planning to raise its yearly Gross Domestic Product (GDP) rate from the current single digit by 25 percent.

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How Auditor-General reports indict NIPC of unlawful spending of N4.97 bln

How Auditor-General reports indict NIPC of unlawful spending of N4.97 bln: The report pointed out that NIPC could not get authorization from the Accountant-General as it is purported to do, as only the FEC “can approve any expenditure that is capital in the nature of that magnitude.”

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Navy arrests vandals with 210,000 litres of diesel

Navy arrests vandals with 210,000 litres of diesel: “Preliminary investigations revealed that the suspects are of Nigerian origin attempting to smuggle the AGO to Benin Republic before their arrest,” the officer said.

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Ivory Coast chocolate traders decline to pay Cocoa farmers living wage

Ivory Coast chocolate traders decline to pay Cocoa farmers living wage: Buyers have been pressing for the country differential to be turned into a country discount, so farmers receive the extra cash but prices stay globally competitive.

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Kaduna Police arrest bandit, recover AK47 rifle

Kaduna Police arrest bandit, recover AK47 rifle: Operatives of the Kaduna Police Command have arrested a suspected bandit in the Kudaru forest of Saminaka, Lere Local Government Area of Kaduna, and recovered

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Nigeria wants ECOWAS leaders to exert pressure on Mali Junta to restore democracy

Nigeria wants ECOWAS leaders to exert pressure on Mali Junta to restore democracy: Pressures are needed to ensure that the transition process in Mali, which is half-way to its conclusion, is not aborted.

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Nigeria is committed to economic diversification, support MSME ~Minister

Nigeria is committed to economic diversification, support MSME ~Minister: “It is as a result of this ingenuity that the Buhari administration has continued to work stridently to diversify the economy as well as encourage and boost MSME activities in the country as a driver of the economy,’’ he said.

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ACCI President seeks private sector inclusion in digital economy policy formulation

ACCI President seeks private sector inclusion in digital economy policy formulation: Abubakar said governmental drive within the ICT sector is “a recognition of the digital shift within the economy as ICT contribution to the GDP is growing every quarter and the potential of the sector as a job creator is well documented.

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UN Secretary-General seeks debt relief extension for middle-income countries

UN Secretary-General seeks debt relief extension for middle-income countries: He said middle-income countries should have their debts suspended till 2022 to cope with the social and economic impact of the coronavirus.

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Ondo Gov Akeredolu says not interested in sacking state chief judge

Ondo Gov Akeredolu says not interested in sacking state chief judge: Akeredolu was reacting to a judgment by a Federal High Court in Abuja which barred the state governor and his attorney general from investigating or removing the chief judge from office.

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INEC starts online voter registration on June 28

INEC starts online voter registration on June 28: “The INEC Voter Registration Portal will be deployed to enable people register online and thereafter go to their respective state or local government office of the commission to capture their biometrics and facials.

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Africa vaccinates close to 12 million people ~WHO

Africa vaccinates close to 12 million people ~WHO: However, Moeti said the 12 million still represents less than one percent of the continent’s population, but noted that the rollout of the vaccine was picking up.

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President Buhari asks MTN to slash cost of data, improve services

President Buhari asks MTN to slash cost of data, improve services: “Nigeria is your most lucrative market in Africa, Asia and the Middle East, as well as the source of a third of the income of the entire MTN Group. As such, we urge you to offer top-of-the-range and affordable service to Nigerians.

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Nigeria’s debt office to sell N150 bln bonds at auction on Wednesday

Nigeria’s debt office to sell N150 bln bonds at auction on Wednesday: According to the Debt Management Office (DMO), Nigeria has proposed to issue N50 billion apiece in the 10-, 15- and 30-year bonds at the auction on June 23.

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Kenya gets huge demand for its $1 bln Eurobond offer

Kenya gets huge demand for its $1 bln Eurobond offer: Order books have been boosted by general market conditions, as well as investors’ interest in Kenya specifically, the banker said.

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Army rescue seven kidnapped students of kebbi college, one student dies

Army rescue seven kidnapped students of kebbi college, one student dies: Sources in the military said seven of the people abducted by the bandits were rescued while a student died in the process.

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Gas truck explosion in Lagos kills 3, 13 people sustain burns, 25 vehicles destroyed ~NEMA

Gas truck explosion in Lagos kills 3, 13 people sustain burns, 25 vehicles destroyed ~NEMA: Farinloye said the resulting fire affected the Ogun State Property Investment Company Plaza beside the Sheraton Hotel, which houses different commercial outfits including a Chinese Restaurant.

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Works may start on $2.3 bln Port-Harcourt-Maiduguri rail line in Aug ~Transport Minister

Works may start on $2.3 bln Port-Harcourt-Maiduguri rail line in Aug ~Transport Minister: Ameachi, who spoke during an interview on NTA Morning Show programme on Friday said the government has paid part of the contract fee to the contractor to enable it to begin construction work.

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Lafarge Africa repays N33.6 bln matured 5-year bond

Lafarge Africa repays N33.6 bln matured 5-year bond: “The Company leveraging on its performance and its recently concluded Management strategic plans to systematically deleverage the Company has redeemed the Series 2 Bond from internally generated cashflow.

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EFCC recovers N6 bln, 30 estates, 32 automobiles in 3 months ~Bawa

EFCC recovers N6 bln, 30 estates, 32 automobiles in 3 months ~Bawa: “There are also recoveries that are indirect recoveries. Just a couple of weeks back, we recovered $100 million for the Nigeria Ports Authority (NPA) but the monies were paid into the account of NPA but through our efforts.

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Nigeria earns $418.5 bln from oil & gas in 10-year

Nigeria earns $418.5 bln from oil & gas in 10-year

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Nigeria’s naira firmer 1.79% at parallel market to N493/$

Nigeria’s naira firmer 1.79% at parallel market to N493/$: Traders attributed the sustained gain in the naira value at the street market to the improvement in dollar liquidity at the Bureau de change as well as banks.

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President Buhari in Borno, assures Nigerians of end to terrorism soon

President Buhari in Borno, assures Nigerians of end to terrorism soon: He attributed the recent successes recorded by the military against insurgents and terrorists at Dikwa, Damboa and Gwoza to careful planning, infusion of new equipment and other war materials as well as quality military leadership.

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US to spend $3 bln to fund antiviral drugs to fight Covid

US to spend $3 bln to fund antiviral drugs to fight Covid: The new program, announced on Thursday by the Department of Health and Human Services, will speed up the clinical trials of a few promising drug candidates.

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EFCC to rearrange ex-Abia Gov, Kalu for corruption charges

EFCC to rearrange ex-Abia Gov, Kalu for corruption charges: Bawa, who spoke with State House correspondents at the Presidential Villa, Abuja on Thursday said Kalu “will be prosecuted all over again.”

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IMF asks Nigeria’s central bank to abolish CRR as liquidity management tool

IMF asks Nigeria’s central bank to abolish CRR as liquidity management tool

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IMF sees Nigeria’s economic growth at 2.5% this year, inflation down to 15.5%

IMF sees Nigeria’s economic growth at 2.5% this year, inflation down to 15.5%: However, the IMF said that inflation rate may likely decelerate in the second half of the year to reach about 15.5 percent.

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Nigeria’s bourse rebounds marginally, as All-Share index rises 15bps

Nigeria’s bourse rebounds marginally, as All-Share index rises 15bps: Looking ahead, we expect Nigerian equities to sustain a short-term recovery from the steep losses recorded earlier in the week, however, we anticipate further sideways movement on the bourse in the medium-term amid an absence of catalysts.

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Dangote Cement raises N50 bln bonds to finance expansion, refinance debt

Dangote Cement raises N50 bln bonds to finance expansion, refinance debt: Puchercos noted that the proceeds of the bond would be deployed for the company’s expansion projects, short-term debt refinancing and working capital requirements.

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Lagos Court jails ex-CEO of defunct Bank PHB, Atuche over N26 bln fraud

Lagos Court jails ex-CEO of defunct Bank PHB, Atuche over N26 bln fraud

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Nigeria’s naira appreciates at parallel, falls at NAFEX

Nigeria’s naira appreciates at parallel, falls at NAFEX: The naira had fallen against the dollar on the parallel market to N505 on Tuesday, touching four years low as speculators and hoarders took advantage of dollar shortage in the market.

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Seven people die in Petrol tanker explosion in Ogun State

Seven people die in Petrol tanker explosion in Ogun State: The fuel tanker explosion occurred at Ajilete, along Owode-Idiroko road, in Yewa South local government area of Ogun State.

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President Buhari’s adviser attacks PDP Governors over opposition to ruga, subsidy removal

President Buhari’s adviser attacks PDP Governors over opposition to ruga, subsidy removal: The president’s media adviser said the call by the governors for the CBN to stop further devaluation of the naira would have negative consequences on exports, oil revenues, small businesses and employment.

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USAID partners FG on accountable financial system for quality education, others

USAID partners FG on accountable financial system for quality education, others: “We know states have their priority projects but in the hierarchy of human needs, you will realise that education, health and WaSH are things that can pull us out of poverty,” he said.

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INEC to conduct Ekiti, Osun Guber election on June 18, July 16 2022

INEC to conduct Ekiti, Osun Guber election on June 18, July 16 2022: The Independent National Electoral Commission (INEC) has slated the conduct of Ekiti and Osun Governorship elections for Saturday, June 18 and Saturday, July

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World Bank wants CBN to replace forex restrictions on goods with tariff

World Bank wants CBN to replace forex restrictions on goods with tariff: The World Bank has asked the Central Bank of Nigeria (CBN) to review all foreign exchange and import restrictions on nonfood goods and replace them with tariffs.

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Nigeria mulls excise tax on telecoms airtime charges

Nigeria mulls excise tax on telecoms airtime charges: Nigeria is considering introducing an excise tax on telecoms airtime charges, the federal budget director said on Tuesday at a World Bank event where the need

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Gambia central bank may print country’s currency in Nigeria

Gambia central bank may print country’s currency in Nigeria: Saidy informed the CBN governor, Godwin Emefiele that relying on its current printer, De La Rue of London, for its currency needs was expensive and unsustainable.

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Islamic state militants freed 10 people held since last year ~sources

Islamic state militants freed 10 people held since last year ~sources: The people, including aid workers, had been taken by Boko Haram over the past year, the sources said. They were released at around noon on Monday and were taken to a hospital in Borno state capital Maiduguri.

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UPDATE: Nigeria’s naira falls 0.59% to N505/$ at parallel market

UPDATE: Nigeria’s naira falls 0.59% to N505/$ at parallel market: The country’s currency fell 0.59 percent against the dollar at the close of the market, having lost 0.39 percent intraday, according to dealers.

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Dangote Foundation disburses N4.2 bln grants to over 400,000 women across Nigeria

Dangote Foundation disburses N4.2 bln grants to over 400,000 women across Nigeria

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Nigeria seeks cooperations of other nations confronting security challenges in W/Africa

Nigeria seeks cooperations of other nations confronting security challenges in W/Africa: President Buhari noted that Boko Haram has exacted heavy toll in terms of lives and resources in Nigeria and some neighbouring countries, while Mali equally has a large swathe of the country occupied by militants.

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Nigeria expecting additional 3.94 million doses of AstraZeneca vaccines by Aug

Nigeria expecting additional 3.94 million doses of AstraZeneca vaccines by Aug: While working with Nigeria’s international partners to confirm the next shipment of vaccines to Nigeria, Shuaib said that the federal government has commenced administering the first dose of the vaccine which was earlier halted due to shortages of vaccines.

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Nigeria’s inflation rate declines for 2nd consecutive month to 17.93% in May ~NBS

Nigeria’s inflation rate declines for 2nd consecutive month to 17.93% in May ~NBS

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Rising inflation in Nigeria pushes 7 million people to poverty ~World Bank

Rising inflation in Nigeria pushes 7 million people to poverty ~World Bank: That, coupled with rising unemployment and inflation, is leading more Nigerians into criminal enterprises to make up for lost earnings in the continent’s top oil producer.

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Nigeria earns $18 bln dividends from NLNG, $9 bln in taxes ~President Buhari

Nigeria earns $18 bln dividends from NLNG, $9 bln in taxes ~President Buhari

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Nigeria upbeat on gas production expansion as Buhari flag off NLNG train 7 project

Nigeria upbeat on gas production expansion as Buhari flag off NLNG train 7 project: “Through a decade of gas initiative which I recently launched, we will transform Nigeria into a natural gas and Industrial nation with gas playing the key role and revenue earner,” he said.

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Four years of China built Standard Gauge Railway in Kenya

Four years of China built Standard Gauge Railway in Kenya: “We used to travel by bus which normally took almost 10 hours on the road from Nairobi-Mombasa. 10 hours of sitting in one position, and it really was uncomfortable,” said Naushev Ayub, who, when we spoke to him, was preparing to join his wife and a few friends, on their first night-time train ride to Mombasa to celebrate his son’s birthday.

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Nigeria’s naira weakens to N503 against dollar on parallel market

Nigeria’s naira weakens to N503 against dollar on parallel market: The local currency woes began three weeks ago after the last Monetary Policy Committee (MPC) meeting when the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele confirmed that the regulator had adopted the NAFEX forex exchange rate as the benchmark rate for the market.

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Buhari govt borrows $22.5 bln, N6.08 trln in six years as PDP kicks

Buhari govt borrows $22.5 bln, N6.08 trln in six years as PDP kicks: According to data collated from the Debt Management Office (DMO), Nigeria’s external debt stood at $32.85 billion as of the end of March 2021 compared with $10.31 billion inherited from the previous administration as of June 2015.

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Ikeja Electric moves to raise tariff on its Akute feeder customers

Ikeja Electric moves to raise tariff on its Akute feeder customers

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Bitcoin hits highest level since May, surpasses $40,000

Bitcoin hits highest level since May, surpasses $40,000: “Getting back above $40,000 was technically a positive,” said Art Hogan, chief strategist at National Securities.

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Ex-Finance Minister Adeosun found ‘first thrift-for-charity’, lauds by VP Osinbajo

Ex-Finance Minister Adeosun found ‘first thrift-for-charity’, lauds by VP Osinbajo

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WTO chief, Okonjo-Iweala seeks reduction in medical supplies trade barriers

WTO chief, Okonjo-Iweala seeks reduction in medical supplies trade barriers

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AfDB launches $463.9 mln 5.5-year Kangaroo bond

AfDB launches $463.9 mln 5.5-year Kangaroo bond: It is also the largest AUD trade ever issued by the Bank. More than 30 investors participated in the deal, with a total order book of more than A$775 million, leading to an upsize of the trade from the announced size of A$250-300 million to the final size of A$600 million.

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G7 Financial Institutions to invest $80 bln in Africa in 5-year

G7 Financial Institutions to invest $80 bln in Africa in 5-year: It is the first time the G7 DFIs have come together to make a collective partnership commitment to the African continent.

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Nigeria’s Twitter ban leaves some businesses in the lurch

Nigeria’s Twitter ban leaves some businesses in the lurch: Scores of small and medium-sized businesses across Africa’s most populous nation – and largest economy – are reeling from the indefinite suspension of the social media site.

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South Africa imports oil, other commodities worth $2.48 bln from Nigeria in 24-month

South Africa imports oil, other commodities worth $2.48 bln from Nigeria in 24-month: Nigeria, the Consular General said was South Africa’s top import market in Africa, and 6th globally after China, Germany, USA, India and Saudi Arabia.

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Kidnappers abduct 12 in another bandits raid in Zaria on Sunday

Kidnappers abduct 12 in another bandits raid in Zaria on Sunday: Witnesses said the bandits who were in large numbers, invaded the Kofar Gayan area of Zaria city in the early hours of Sunday when the residents were still sleeping and attacked some houses, where they abducted eight members of a family.

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Access Bank targets young entrepreneurs with new digital loan product

Access Bank targets young entrepreneurs with new digital loan product: “This innovation will bring access to digital loans for the youths because that is what we want to do with this innovation,” Etuokwu said.

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Many insurance firms struggling to pay claims, offer assets for sales ~NAICOM

Many insurance firms struggling to pay claims, offer assets for sales ~NAICOM: The commissioner said NAICOM would decide on actions to take against the weak companies in the sector that were not meeting their obligations after the ongoing recapitalisation exercise.

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Dangote $2 Bln Fertilizer Plant Starts commercial productions, pushes out 120 trucks of urea daily

Dangote $2 Bln Fertilizer Plant Starts commercial productions, pushes out 120 trucks of urea daily: “Currently, the demand is less than 1 million tonnes and we alone can  produce 3 million tonnes, so we can easily meet local demand and also produce for export to other West African countries,” Edwin said.

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President Buhari bares his mind on major issues confronting Nigeria

President Buhari bares his mind on major issues confronting Nigeria: “There were cattle routes and grazing areas. Cattle routes were for when they (herdsmen) are moving upcountry, North to South or East to West, they had to go through there.

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June 12: “I am not a deserter” ~MKO

June 12: “I am not a deserter” ~MKO: All my life I had worked for the result which God in His mercies, gave us on June 12, 1993. Quoting Jesus Christ (Luke 9) “No man having put his hand to the plough, and looking back, is fit for the kingdom of God”.

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ETI raises $350 mln Tier 2 Sustainability Notes at 8.75% coupon

ETI raises $350 mln Tier 2 Sustainability Notes at 8.75% coupon: “This Tier 2 issuance is the first to have a Basel III-compliant 10NC5 structure outside of South Africa in 144A/RegS format and will be listed on the main market of the London Stock Exchange.

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CIBN seeks collaboration with Ecobank, unveils New Strategic Initiative

CIBN seeks collaboration with Ecobank, unveils New Strategic Initiative: Olugbemi commended Ecobank’s consistent support for the Institute over the years to ensure the realization of the Institute’s mandate of determining the standards of knowledge and skills development for those seeking to become members of the banking profession.

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I remain an unapologetic believer in devolution of power, says President Buhari

I remain an unapologetic believer in devolution of power, says President Buhari: “I remain an unapologetic believer in devolving power to the people and that is why I signed the Executive Order granting autonomy to State Legislature and Judiciary.

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President Buhari meets with Members of Nigerian Inter-Religious Council

President Buhari meets with Members of Nigerian Inter-Religious Council: President Mohammadu Buhari is currently meeting with Members of the Nigerian Inter-Religious Council in State House, according to his spokesman, Femi Adesina.

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US Govt alerts citizens in Nigeria over planned June 12 demonstration

US Govt alerts citizens in Nigeria over planned June 12 demonstration: The statement listed possible locations of the protest in Abuja to be at Unity Fountain (Hilton Hotel area), Wuse, Berger Roundabout, Aguiyi Ironsi Way, Airport Road, and British Circle.

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Ahead of Tokyo Olympics, 18,000 workers, volunteers to be vaccinated

Ahead of Tokyo Olympics, 18,000 workers, volunteers to be vaccinated: They include referees, Olympic village staff, employees and contractors, airport employees, doping testing officials, and assistants from the national Olympic and Paralympic committees.

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Nigeria appoints Ilelah new NBC Director General

Nigeria appoints Ilelah new NBC Director General: The new NBC Director General, Balarabe Shehu Ilelah replaced Armstrong Idachaba who has been acting as the DG of the commission since the suspension of Ishaq Modibbo-Kawu, for his alleged involvement in a N2.5 billion Digital Switch Over (DSO) scam.

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Global Airways, private equity firm take 51% stake in South African Airways

Global Airways, private equity firm take 51% stake in South African Airways: The grouping named Takatso will invest as much as 3.5 billion rand ($257 million) over the next three years, Lift co-founder Gidon Novick and Harith Chief Executive Officer Tshepo Mahloele said in an interview.

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Nigeria fintech, Paga aims at $1 bln valuations, crosses $8 bln transactions

Nigeria fintech, Paga aims at $1 bln valuations, crosses $8 bln transactions: But he’s already setting his sights outside his home country by looking to expand to Ethiopia and Mexico, where it could similarly facilitate payments for the millions who lack access to banking services. Paga’s foray into Ethiopia, Africa’s second-most populous nation, is planned for next year.

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Why CBN seeks to float digital currency ~ Mohammed

Why CBN seeks to float digital currency ~ Mohammed: The Central Bank of Nigeria (CBN) said it aimed to launch digital currency before the end of 2021 in a bid to expand financial inclusion in the country.

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Nigeria breaches borrowing limit by 100 bsp in 2021, moves to cut down cost ~Finmin

Nigeria breaches borrowing limit by 100 bsp in 2021, moves to cut down cost ~Finmin: Ahmed in an interview said the current debt incurred in the course of fiscal 2021 stood around four percent of the GDP, exceeding the threshold set by the government for borrowing in this year’s budget.

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Kidnappers abduct students, staff of Kaduna polytechnic

Kidnappers abduct students, staff of Kaduna polytechnic: “Our schools have become sitting ducks for terrorists and Bandits; Nuhu Bamalli Polytechnic in Zaria, Kaduna State is attacked and students were reportedly abducted. Zaria hosts a number of military formations. Tragic,” Sani wrote on his Twitter handle on Friday.

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Nigeria launches Deep Blue project to fight rampant sea piracy

Nigeria launches Deep Blue project to fight rampant sea piracy: Deep Blue has “a clear objective to manage, control and protect” Nigerian waters and “ensure our waterways are safe for business,” Jamoh said at a ceremony marking the launch of the program.

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U.S. Govt mounts pressure on Nigeria to lift suspension on Twitter

U.S. Govt mounts pressure on Nigeria to lift suspension on Twitter: The US said the Nigerian government should respect its citizens’ right to freedom of expression by reversing this suspension.

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Surging food import costs threaten world’s poorest ~ FAO

Surging food import costs threaten world’s poorest ~ FAO: The world’s food import bill, including shipping costs, is projected to reach $1.715 trillion this year, up 12 percent from $1.530 trillion in 2020, the FAO said in its twice-yearly Food Outlook report on Thursday.

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Gunmen attack Anambra police station, kill one Inspector

Gunmen attack Anambra police station, kill one Inspector: “The hoodlums zoomed off when our men(police) fought back and warded them off. They came in three Sienna vehicles,” the source said.

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Nigeria approaches Standard Chartered Bank for $14.4 bln loans to build 2 rail projects

Nigeria approaches Standard Chartered Bank for $14.4 bln loans to build 2 rail projects: Finance Minister Zainab Ahmed is overseeing the talks with the emerging markets-focused financial institution about arranging the infrastructure loans, he said, without providing any further details.

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Nigeria to recruit 10,000 Police Officers, increases wages to boost morale ~Buhari

Nigeria to recruit 10,000 Police Officers, increases wages to boost morale ~Buhari: ‘‘We are currently recruiting 10,000 new Police officers to reinforce our personnel capacity across the country.

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Air Zimbabwe to resume regional flights from June 16

Air Zimbabwe to resume regional flights from June 16: According to a report by the state-owned Herald newspaper, the airline will begin by flying the Harare-Johannesburg route four times a week from June 16.

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Importers groan as Customs hike duty on consignments due to exchange rate adjustment

Importers groan as Customs hike duty on consignments due to exchange rate adjustment: All transactions and cargoes cleared from the port from Tuesday, had their duty computed based on the new rate of N404.97 to a dollar, this was against the previous rate of N381 to a dollar used for duty payment.

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President Buhari tells youth to ‘behave’ if they want jobs

President Buhari tells youth to ‘behave’ if they want jobs: Nobody is going to invest in an insecure environment. So I told them, I said they should tell the youth that if they want jobs, they will behave themselves,” Buhari said.

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Nigeria spends N612.7 bln to service domestic debt in 3-month ~debt office

Nigeria spends N612.7 bln to service domestic debt in 3-month ~debt office: A breakdown of the debt service showed that the government spent N123.29 billion to service its domestic debt in January, N123.09 billion in February and N270.33 billion in March.

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Nigeria to sell unutilised electricity to four West African countries ~TCN boss

Nigeria to sell unutilised electricity to four West African countries ~TCN boss: “The power we will be selling is the power that is not needed in Nigeria.

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President Buhari says he has done well to improve security

President Buhari says he has done well to improve security: He cited security as one of the indices which Nigerians should use to appraise his stewardship.

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No proof woman gave birth to 10 children, says S/Africa’s Gauteng province

No proof woman gave birth to 10 children, says S/Africa’s Gauteng province: “None of the hospitals in the province, public and private have any records of such a delivery in their facilities,” the statement read.

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Nigeria agrees to pay $200 mln to settle dispute over Mambila power project

Nigeria agrees to pay $200 mln to settle dispute over Mambila power project: In 2017, Sunrise Power, which claimed to have been awarded the Build, Operate and Transfer (BoT) contract in 2003, dragged the Federal Government and its Chinese partners before the International Chamber of Commerce (ICC) in Paris, France, over an alleged breach of contract.

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House of Reps steps down AMCON amendment Bill, seeks clarifications on power to seize debtors’ property

House of Reps steps down AMCON amendment Bill, seeks clarifications on power to seize debtors’ property: ”I will like to step down this Bill and interface more with the Senate so we can tidy up some of the grey areas genuinely raised by our colleagues here and we can pass the bill at the appropriate time,” Doguwa said.

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Nigeria’s debt stock rises 0.58% to N33.1 trln in March ~DMO

Nigeria’s debt stock rises 0.58% to N33.1 trln in March ~DMO: In a statement, the debt office said the debt stock also “includes Promissory Notes in the sum of N940.220 billion issued to settle the inherited arrears of the FGN to State Governments, Oil Marketing Companies, Exporters and Local Contractors.”

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Nigeria to borrow N722.5 bln to fund security ~Ahmed

Nigeria to borrow N722.5 bln to fund security ~Ahmed: As part of Nigeria’s security spending, the World Bank also agreed to allow the government to restructure existing loans of N39.58 billion to supplement the funds, she told reporters after a cabinet meeting.

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Kenya President wants Ethiopia to open up telecoms sector to private mobile money operators

Kenya President wants Ethiopia to open up telecoms sector to private mobile money operators: Currently, though only Ethio Telecom is allowed to offer mobile financial services while foreign operators are barred by law from participating. Mobile money is a term for banking transactions made using a phone or other mobile device.

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Judiciary Staff Union calls off 35-day strike action, to resume work Monday

Judiciary Staff Union calls off 35-day strike action, to resume work Monday: It hinted that it discussed extensively and after putting so many issues into consideration such as the intervention of NJC and other stakeholders, the NEC has resolved that the strike is hereby suspended.

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Shell wants Nigeria to pass PIB to stem investment outflow

Shell wants Nigeria to pass PIB to stem investment outflow: “For every month and every week that we delay, investment fund is moving somewhere else,” Bayo Ojulari, managing director at Shell Nigeria Exploration and Production Company said at an oil conference in Abuja.

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Nigeria HoR directs CBN to halt naira rapid depreciation

Nigeria HoR directs CBN to halt naira rapid depreciation: The resolution of the House was sequel to the adoption of a motion of urgent national importance moved at plenary Wednesday by  Bamidele Salam.

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Twitter reaches out to Nigeria to resolve suspension row ~Lai Mohammed

Twitter reaches out to Nigeria to resolve suspension row ~Lai Mohammed: Mohammed, who said he got Twitter’s request on Wednesday morning, listed conditions that must be met even if there is a discussion with Twitter to include that it must now be registered in Nigeria as a business concern.

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Ghana Inflation declines to 7.8% in May, down to 2013 level

Ghana Inflation declines to 7.8% in May, down to 2013 level: Government Statistician Samuel Kobina Annim told reporters Wednesday in Accra, the capital that the inflation rate is the lowest rate since at least the start of 2013.

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Nigeria earns €1 mln from sales of carbon credits

Nigeria earns €1 mln from sales of carbon credits: “This is the first recorded carbon proceed we are receiving on behalf of the Federal Government of Nigeria and it is from the partnership of our parent company, Nigerian National Petroleum Corporation (NNPC) and Total.

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President Buhari receives made in Nigeria Phone, presides over FEC

President Buhari receives made in Nigeria Phone, presides over FEC: President Buhari also Swears-In Wakil Bukar as Commissioner of the Federal Civil Service Commission and Mohammed Dattijo Usman as Commissioner of the National Population Commission.

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Nigeria’s insurance industry eyes tripple growth in annual premium income

Nigeria’s insurance industry eyes tripple growth in annual premium income: NAICOM intends to embark on a market development drive that will enable it to achieve its target of N1.5 trillion annual premium and 10 percent penetration and density target.

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Nigeria Immigration Service sets six weeks deadline for travel Passport process

Nigeria Immigration Service sets six weeks deadline for travel Passport process: Babandede was quoted in a statement by the NIS Public Relations Officer, Amos Okpu that eligible passport applicants can now apply and make payments for the various categories of passports of their choice from midnight of June 8.

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AfDB approves $0.43 mln grant for Guinea to fight Ebola epidemic

AfDB approves $0.43 mln grant for Guinea to fight Ebola epidemic: The funding from the AfDB, the statement said will enable Guinea to strengthen the diagnostic and sample management capacity of six regional laboratories.

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World Bank reverses Nigeria’s economic growth projection rate, sees 1.8% rise in 2021

World Bank reverses Nigeria’s economic growth projection rate, sees 1.8% rise in 2021: In its report, the World Bank said its economic growth projection was based on the expectation that crude oil prices would remain high while expecting that the Nigerian government will implement structural reforms and adopt flexible exchange rate management.

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Bauchi State Gov Mohammed sacks cabinet, SSG, CoS

Bauchi State Gov Mohammed sacks cabinet, SSG, CoS: “The Governor has approved with immediate effect the dissolution of members of the State Executive Council and other political appointees that include, the Secretary to the State Government (SSG), the Chief of Staff (COS) Government House and all Special advisers.

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Pfizer to test COVID-19 vaccine in larger group of children below 12

Pfizer to test COVID-19 vaccine in larger group of children below 12: Up to 4,500 children will be enrolled for the study at more than 90 clinical sites in the United States, Finland, Poland and Spain, the company said.

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