European Union’s Foreign Affairs Chief, Josep Borrell, addressed the United Nations Security Council, highlighting the dire situation in Gaza, stating that “starvation is being wielded as a weapon of war” by Israel. Borrell emphasised that the humanitarian crisis in Gaza is entirely man-made, attributing it to the deliberate closure of vital supply routes by Israeli authorities. He stressed that the blockade imposed by Israel has resulted in a catastrophic situation, akin to a “man-made humanitarian disaster.” In response to the escalating crisis, Borrell announced that the EU is stepping up its humanitarian assistance efforts. However, he urged the international community…
Author: Editor Francis
The Chairman of the National Population Commission (NPC), Nasir Isa Kwarra, has announced that a proposed date for the census has been submitted to President Bola Tinubu for consideration. Following the swearing-in ceremony of the 17 Federal Commissioners of the commission, Kwarra addressed State House reporters, expressing the commissioners’ readiness to aid in the census preparations. When pressed for the census date, Kwarra stated, “We have not received a confirmed date, but we have presented our recommendations to Mr. President and are awaiting his approval.” The swearing-in ceremony for the commissioners, who were nominated last November, took place in three…
In response to the escalating threat of kidnapping and other high-profile crimes in Nigeria, the federal government is considering offers of foreign assistance. Mohammed Idris, the Minister of Information and National Orientation, disclosed that the United States and other undisclosed countries have extended their support to Nigeria. Idris made the announcement during a press briefing at the State House in Abuja following a Federal Executive Council (FEC) meeting chaired by President Bola Ahmed Tinubu. President Tinubu reiterated his directive for security agencies to ensure the safe return of all kidnapping victims. Recent weeks have witnessed a surge in kidnapping incidents,…
In a move to bolster its fiscal budget, the Federal Government has enlisted the expertise of top global investment banks, including Citibank NA, JPMorgan Chase & Co, and Goldman Sachs Group Inc., to guide its upcoming Eurobond issuance. This marks Nigeria’s re-entry into the international bond market after a hiatus of two years, following its last Eurobond issuance in 2022, which raised $1.25 billion. Sources close to the transaction, as reported by Bloomberg, reveal that Standard Chartered Bank and Lagos-based financial advisory firm Chapel Hill Denham have also been appointed to consult on this venture. While the size of the…
In a recent podcast titled “BC Advisory Dialogue,” hosted by Bruit Costaud in collaboration with Ballard Partners, Minister of Finance and Coordinating Minister for the Economy, Wale Edun, outlined the Federal Government’s comprehensive plan to address the foreign exchange shortage gripping Nigeria. Edun disclosed that the strategy revolves around two key pillars: attracting foreign investors and bolstering government revenue. Central to this approach is the redirection of focus by the Central Bank of Nigeria (CBN) from developmental funding to combating inflation, a move deemed vital for economic stability. Explaining the mechanics, Edun highlighted how the government’s decision to raise interest…
Following the Federal Executive Council (FEC) meeting held in Abuja, Minister of Works, Dave Umahi, unveiled significant approvals totaling ₦873.23 billion for the Federal Ministry of Works. Speaking to reporters, Umahi clarified misconceptions regarding the ministry’s concrete roads policy, attributing rising cement costs to production expenses rather than the policy itself. The approved budget allocations include: 1. Augmentation for Obajana-Benin Road: A substantial augmentation of N757 billion was approved for the dualization of the 489km Obajana-Benin Road. Originally awarded in 2012 for light rehabilitation at N122 billion, the project underwent review and dualization, bringing the total cost to N897 billion.…
The Presidency has revealed that the anticipated launch of the student loan scheme will be postponed, with a new date yet to be disclosed. This announcement came from the Special Adviser to the President on Information and Strategy, Bayo Onanuga, following the Federal Executive Council meeting at the Aso Rock Villa, Abuja. The originally planned launch, scheduled for Thursday, March 14, 2024, has been delayed due to necessary rearrangements needed for a proper rollout, as explained by Onanuga. Emphasising the President’s commitment to the scheme, Onanuga highlighted its significance as one of his flagship programmes. Earlier indications suggested that the…
President Bola Tinubu has issued a directive to security agencies in the country, urging them to ensure the safe return of all kidnap victims and emphasizing a strict no-ransom-payment policy. This announcement came following a spike in kidnapping incidents, particularly in the Northwest region of Nigeria. The Minister of Information and National Orientation, Alhaji Mohammed Idris, revealed this information to journalists after the weekly Federal Executive Council (FEC) meeting chaired by President Tinubu at the State House, Abuja. President Tinubu’s directive was prompted by recent cases of abduction in Borno and Kaduna states. He instructed security and intelligence agencies to…
Binance, the leading cryptocurrency exchange, has revealed that it took action against 281 Nigerian accounts in 2022 over concerns of money laundering. The exchange, in a statement published on its website, disclosed its collaboration with the Federal Government to safeguard users from illicit activities. This announcement comes shortly after Binance’s decision to halt naira-to-dollar exchange services, following a dispute with Nigerian authorities who accused the platform of manipulating the country’s foreign exchange rate. Highlighting its commitment to combating financial crimes, Binance conducted comprehensive law enforcement training sessions in Nigeria, with over 30 investigators attending each session. These sessions aimed to…
President Bola Tinubu has directed the reopening of Nigeria’s land and air borders with the Republic of Niger, as well as the lifting of all economic and financial sanctions against the country with immediate effect. This move comes just days after the Economic Community of West African States (ECOWAS) lifted economic and travel sanctions on Niger, Mali, and Guinea at an extraordinary summit in Abuja on February 24, 2024. In a statement signed by his Special Adviser on Media and Publicity, Ajuri Ngelale, the Nigerian President also approved the lifting of sanctions against the Republic of Guinea. The statement, titled…
Richard Olatunde, the former Chief Press Secretary to the late Governor of Ondo State, Oluwarotimi Akeredolu, rebuffed claims made by the current governor, Lucky Aiyedatiwa, regarding Akeredolu’s supposed desire for Aiyedatiwa to succeed him. Aiyedatiwa previously claimed that Akeredolu had expressed a wish for him to take over as governor, citing his involvement in the former governor’s legacies as evidence. However, Olatunde during a press conference meeting countered this narrative, asserting that Akeredolu never harbored such intentions. Olatunde cautioned Aiyedatiwa against exploiting Akeredolu’s name for political gain and clarified that the relationship between Akeredolu and Aiyedatiwa had become strained before…
The US House of Representatives will vote Wednesday on a bill that would force TikTok to cut ties with its Chinese owner or get banned in the United States. The legislation is the biggest threat yet to the video-sharing app, which has surged to huge popularity across the world all while causing intense nervousness amongst governments and security officials about its Chinese ownership and its potential subservience to the Communist Party in Beijing. The vote is likely to occur at 10:00 am (1400 GMT) and is expected to pass overwhelmingly in a rare moment of bipartisan entente in a politically…