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Nigeria says working hard to resolve gasoline crisis

In a chat with Nigerians from all walks of life on Sunday evening during the stopover, the Vice President noted that the Federal Government was moving as quickly as it could to solve the fuel crisis and reduce the difficulties Nigerians were facing as a result.

How Jonathan’s officials, cousin shared 27bln proceeds of PHCN sale -EFCC

The Economic and Financial Crimes Commission (EFCC) has narrated how top government officials under the administration of former president Goodluck Jonathan shared 27 billion, part of the proceeds of the sale of Power Holding Company of Nigeria (PHCN) in 2014.

- Nigeria unemployment rate climbs up

Four out of every ten people in Nigeria's workforce were unemployed or underemployed by the end of September, National Bureau of Statistics (NBS) said on Friday.

Why is Jerusalem important, what makes Donald Trump's intervention so toxic

What is the status of Jerusalem? Israel set up its parliament in West Jerusalem when the state of Israel was proclaimed in 1948. The move followed the United Nations’ vote to partition Palestine on the basis of the British pledge known as the Balfour Declaration that paved the way for a homeland for the Jewish people.

- Nigeria's dollar reserves at $34.53 bln as of Nov. 24

Nigeria’s foreign exchange reserves stood at $34.53 billion as of Nov. 24, up nearly 3 percent from a month earlier, central bank data showed on Thursday. The bank did not provide a reason for the increase in reserves, which stood at $33.58 billion at the same date last month.

Wednesday 31 August 2022

Arsenal continues perfect start to Premier League season with 2-1 win over Aston Villa

Arsenal continues perfect start to Premier League season with 2-1 win over Aston Villa: Villa, dominated by Arsenal for the vast majority of the 90 minutes, found an unlikely equaliser in the 74th minute when Douglas Luiz scored straight from a corner only seconds after entering the game as a substitute.

At NECA CEO Discuss, economist canvasses removal of fuel subsidy to cut back on deficit

At NECA CEO Discuss, economist canvasses removal of fuel subsidy to cut back on deficit: “We can’t afford fuel subsidy. If we want to look at it from the economic point of view, it’s about opportunity cost. What is the opportunity cost of N8 trillion? The schools are closed. We are actually borrowing to consume on fuel subsidy.

Tuesday 30 August 2022

Nigeria’s equity market falls on FCMB, Sterling Bank losses as FMDQ approves C & I Leasing, CitiTrust N50 bln CPs

Nigeria’s equity market falls on FCMB, Sterling Bank losses as FMDQ approves C & I Leasing, CitiTrust N50 bln CPs: Meanwhile, the FMDQ Exchange has approved the registration of the C & I Leasing PLC’s N50.00 billion commercial paper issuance programme on its platform.

NNPC will be IPO ready 2nd quarter of 2023, says Kyari

NNPC will be IPO ready 2nd quarter of 2023, says Kyari: “For you to list shares on the exchange, you must be IPO ready. Being IPO ready will means that you have a system and processes in place, you must have governance, you must have assets you must have a correct and undisputable valuation that potential buyers can see, and then we will be IPO ready by the middle of next year.

Nigeria to tap 20% investment in Dangote Refinery to improve fuel supply, stop importations

Nigeria to tap 20% investment in Dangote Refinery to improve fuel supply, stop importations: According to the Chief Executive of the state-owned oil firm, Mele Kyari, the country would stop importing petroleum products by 2023 as operations of the Dangote refinery and Port Harcourt Refinery would ensure domestic consumption of fuel is adequately met.

Osinbajo hosts 10 Govs after recuperating from surgery, seeks urgent action on economy

Osinbajo hosts 10 Govs after recuperating from surgery, seeks urgent action on economy: The Vice President and the Governors then agreed to engage these and other pressing issues further with a view to bringing urgent resolution for the benefit of the Nigerian people.

DATAPRO affirms Nova Merchant Bank’s Long-Term and short Term Issuer Ratings of ‘A+’ and ‘A1’; Stable Outlook

DATAPRO affirms Nova Merchant Bank’s Long-Term and short Term Issuer Ratings of ‘A+’ and ‘A1’; Stable Outlook: Reacting to the ratings, the Managing Director/CEO, Nova Merchant Bank Limited, Nath Ude, said, “DataPro’s affirmations of NOVA’s Long-Term and Short-Term ratings and stable outlook, are confirmation of the bank’s sound governance, strong risk management and good asset quality. Notably, the ratings highlight the strong productive capacity of the Bank driven by sustainable growth.

Nigerian Army patrol team kill one bandit, capture three others in a battle in 8 Kaduna communities

Nigerian Army patrol team kill one bandit, capture three others in a battle in 8 Kaduna communities: In a statement by the army spokesman, Onyema Nwachukwu, the team that neutralised the bandits was led by the General Officer Commanding (GOC) 1 Division Nigerian Army, Taoreed Lagbaja, a Major General accompanied by a team of Operational commanders and operatives.

Delta Airlines suspends flights from New York to Lagos

Delta Airlines suspends flights from New York to Lagos: “Customers impacted by our suspended New York-JFK to Lagos service will be re-accommodated on Delta operated flights or services operated by our joint venture partners. Delta remains committed to the Nigeria market,” the airline said in the statement.

Dangote Sugar to cut importations by 40%, seeks to expand operations

Dangote Sugar to cut importations by 40%, seeks to expand operations: Dangote said the integrated sugar complex would be located in Tunga, in the Awe Local Government Area of Nasarawa State, and comprises 60,000ha of sugar plantation and two sugar factories with the capacity to produce 430,000 tonnes of refined white sugar per annum.

Manchester United near deal for Newcastle goalkeeper Martin Dubravka

Manchester United near deal for Newcastle goalkeeper Martin Dubravka: The 33-year-old Slovakian international will become Erik ten Hag’s sixth signing of the summer after Tyrell Malacia, Christian Eriksen, Lisandro Martinez, Casemiro and Antony.

Monday 29 August 2022

How we intervene to stop the spread of Gas fire near RCCG camp, Mowe ~LASEMA Boss

How we intervene to stop the spread of Gas fire near RCCG camp, Mowe ~LASEMA Boss: The operation which was led by the Permanent Secretary, LASEMA, Olufemi Oke-Osanyintolu was effectively and efficiently carried out at the Gas filling Station.

TotalEnergies announces commercial agreement between Northern Lights and Yara to transport, store CO2

TotalEnergies announces commercial agreement between Northern Lights and Yara to transport, store CO2: This agreement, the first of its kind worldwide, is a major milestone in the decarbonization of heavy industry in Europe, paving the way for international CO2 transport and storage as a service, the company said in a statement on its website.

Online publishers to discuss 2023 elections at this year’s conference

Online publishers to discuss 2023 elections at this year’s conference: The conference will bring together many policy and decision-makers from the private and public sectors as well as scholars, non-governmental organizations and the media, the statement said.

Elon Musk subpoenas Twitter whistleblower, seeking details on spam, security

Elon Musk subpoenas Twitter whistleblower, seeking details on spam, security: Musk sought information from whistleblower Peiter Zatko mostly about the way Twitter measures spam accounts. Musk has said he is walking away from the deal for the company because Twitter misled him and regulators about the true number of spam or bot accounts on the microblogging platform.

Attempt by APC to hijack electoral process; YIGA Chief asks senate to reject president’s INEC nominees

Attempt by APC to hijack electoral process; YIGA Chief asks senate to reject president’s INEC nominees: “The Senate needs to rise to the occasion by rejecting these nominees and ask the President to re-nominate. It (the nominations) is an aberration of the constitution.”

Lion mauls man to death in Ghana zoo

Lion mauls man to death in Ghana zoo: “The intruder was attacked and injured by one of the lions,” the state Forestry Commission said on Sunday, adding that the man had died from wounds he sustained in the attack.

Nigeria ‘II not default on debt servicing, proposing N19.7 trln budget for 2023

Nigeria ‘II not default on debt servicing, proposing N19.7 trln budget for 2023: The minister further said Nigeria has been able to consistently without fail, service her debt and the country do not have any projections even in the near future, to fail in that obligation.

Nigeria’s equity market declines as losses in Nigerian Breweries, GTCO drag down index

Nigeria’s equity market declines as losses in Nigerian Breweries, GTCO drag down index: This week, United Capital Plc, expected the market to reverse to a bear market as investors remain cautious about the equity market amidst a rising yield environment and tight system liquidity, saying “however, investors are expected to continue cherry-picking stocks with solid underlying fundamentals.”

Barcelona forward Aubameyang attacked by 4-armed robbers, beaten in front of wife, terrified children

Barcelona forward Aubameyang attacked by 4-armed robbers, beaten in front of wife, terrified children: El Pais report that at least four men climbed into his garden at the complex in Castelldefels and threatened him with firearms and iron bars – and the crooks escaped with jewels after gaining access to the player’s safe.

Finair partners with Qatar Airways to open up new routes

Finair partners with Qatar Airways to open up new routes: Finnair has been seeking new commercially-feasible routes since the closure of Russian airspace due to the war in Ukraine cut off its previously lucrative Asian connections via a northern route.

Standard Alliance Insurance sues NAICOM over revocation of licence

Standard Alliance Insurance sues NAICOM over revocation of licence: The insurance firm is seeking the court to rule that “a declaration that the purported notice of cancellation of registration of Standard Alliance Plc issued by the 1st defendant dated the 21st day of June, 2022 is a nullity ab initio.

Popes who resign are humble, Francis says in central Italy visit

Popes who resign are humble, Francis says in central Italy visit: L’Aquila, a central Italian city which Francis visited briefly, is the burial place of Celestine V, who resigned as pope in 1294 after only five months to return to his life as a hermit, establishing a papal prerogative.

Nigeria can now produce Covid-19 vaccine of acceptable international standard, says NAFDAC

Nigeria can now produce Covid-19 vaccine of acceptable international standard, says NAFDAC: She described the Federal government’s huge spending on the fight against COVID-19 as exemplified by the construction of the new COVID-19 laboratory, equipped with modern instruments and amenities at the Agency as a wake-up call for the country.

Sunday 28 August 2022

Economies of 10 Nigerian states bigger than some African countries, says Osinbajo

Economies of 10 Nigerian states bigger than some African countries, says Osinbajo: “When they talk about economy, we are often compared with smaller African countries, but there are 10 states in Nigeria that have bigger GDPs than those countries, it is a huge target market.”

Lagos Police arrest fake army capital for armed robbery, recover SUV, other items

Lagos Police arrest fake army capital for armed robbery, recover SUV, other items: A statement by the Lagos Command spokesman, Benjamin Hundeyin stated that the command acted after receipt of a complaint from one of Edwards’ victims whose identity remained undisclosed.

Saturday 27 August 2022

Hungry and malnourished, northeast Nigeria endures humanitarian crisis

Hungry and malnourished, northeast Nigeria endures humanitarian crisis: The militant Boko Haram group and its offshoot Islamic State West Africa Province have been fighting Nigerian security forces in the northeast for over a decade, displacing more than 2 million people and killing hundreds of others, aid agencies say. https://globalfinancialdigest.com/hungry-and-malnourished-northeast-nigeria-endures-humanitarian-crisis/

Thursday 25 August 2022

Citigroup to wind down Russian consumer operations

Citigroup to wind down Russian consumer operations: The U.S. lender which became one of the biggest global financial giants under former top boss Sandy Weill, has in recent years been cutting down its international footprint by exiting non-core markets. https://globalfinancialdigest.com/citigroup-to-wind-down-russian-consumer-operations/

Nigeria relies on non-oil revenue from Customs, FIRS to pay salary, says Keyamo

Nigeria relies on non-oil revenue from Customs, FIRS to pay salary, says Keyamo: “NNPC is no longer remitting money into FAAC. I hope you know that? All the money they earn goes into subsidies. So the government have to rely on revenue from customs, FIRS and others to pay salaries and carry out some other activities. https://globalfinancialdigest.com/nigeria-relies-on-non-oil-revenue-from-customs-firs-to-pay-salary-says-keyamo/

Investors are demanding higher rates for their funds as tight liquidity weigh

Investors are demanding higher rates for their funds as tight liquidity weigh: Looking forward, we expect the stop rates in subsequent auctions to maintain their upward trend. In the absence of any substantial flows that will make the market liquid, we believe that fund managers will demand higher rates for their funds. https://globalfinancialdigest.com/investors-are-demanding-higher-rates-for-their-funds-as-tight-liquidity-weigh/

Wednesday 24 August 2022

Twitter facing more staff exodus amid Musk battle, whistleblower allegation

Twitter facing more staff exodus amid Musk battle, whistleblower allegation: The staff meeting was held a day after Twitter’s former security chief Peiter “Mudge” Zatko said in a whistleblower complaint that the social media company misled federal regulators about its defences against hackers and spam accounts. https://globalfinancialdigest.com/twitter-facing-more-staff-exodus-amid-musk-battle-whistleblower-allegation/

Analysts see 5% excise duty on telecom services boosting Govt revenue

Analysts see 5% excise duty on telecom services boosting Govt revenue: Looking forward, we expect that the 5.0 per cent excise duty on telecom services will boost the FGN tax base without hurting revenue in the telecom industry in the short run.