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ABUJA — The Central Bank of Nigeria (CBN), will own a majority stake in Bitt Inc., its technical partner for digital currency eNaira, according to the apex bank governor, Godwin Emefiele. Emefiele announced this at the end of the CBN monetary policy committee (MPC) meeting on Friday. According to the governor, Bitts as a partner will establish their company in the country and the apex bank will own a majority stake in the company. “We...

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ABUJA — The CBN’s monetary policy committee has decided to maintain the monetary policy rate (MPR), which measures interest rate, at 11.5 percent. The committee unanimously voted to retain the key lending rate of 11.5 percent, with the asymmetric corridor of +100 and -700 basis points around the MPR. Godwin Emefiele, the apex bank governor confirmed this to journalists on Friday following the committee’s two-day meeting at the CBN headquarters in Abuja. The governor stated...

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The national industrial court has ordered the National Association of Resident Doctors (NARD) to suspend its ongoing strike. The FG had instituted a suit against the association after an unsuccessful attempt by the house of representatives to mediate between the federal government and NARD. FG asked the court for an order of interlocutory injunction restraining members of NARD from continuing with the action. Ruling on the application, Bashar Alkali, the Judge ordered the suspension of...

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The National Association of Resident Doctors (NARD) has rejected the ruling of the national industrial court, directing the association to suspend its strike. NARD said its seeking to appeal the ruling and file a stay of application. This decision was in a communique released on Friday and jointly signed by Uyilawa Okhuaihesuyi, its president, and Jerry Isogun, its general secretary. The FG had instituted a suit against the association after an unsuccessful attempt by the...

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No fewer than one million children in Nigeria are unable to return to school due to the terror caused by insecurity according to the United Nations Children’s Fund (UNICEF). With over 20 cases of school attacks, more than 1,000 children have been abducted in 2021. The organisation disclosed this in a statement issued on Wednesday. UNICEF noted that of the 37 million children who started school at the beginning of the year, no less than...

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ABUJA — The federal government has approved a sum of N38.4 billion for the completion of abandoned road projects in Benue, Bayelsa, Anambra, Imo, and Nasarawa state. Babatunde Fashola, minister of works and housing confirmed the development to state house correspondents on Wednesday after the Federal Executive Council meeting. According to the minister, the projects are old and were inherited from past administrations. He noted that the cost of the projects was revised to reflect...

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ABUJA — The All Progressives Congress (APC) has said the loans obtained by the federal government are directed toward improving the welfare of the citizens. According to the ruling party, the series of debts incurred by President Muhammadu Buhari’s administration was a result of the desire to uplift the living standard of Nigerians. In a statement issued on Wednesday, John Akpanudoedehe, the party’s caretaker committee national secretary, said borrowings are based on a genuine need...

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A Catholic priest named Luka Yakusak, was abducted in Anchuna village, Zangon Kataf LGA, Kaduna state on Monday at about 8pm. The bandits were said to have stormed the town and shot sporadically before eventually heading to the official residence of the Catholic priest. The priest is in charge of St Matthew’s Catholic Church in the community. The cable reported that Luka Binniyat, spokesman of the Southern Kaduna Peoples Union (SOKAPU), confirmed the abduction incident....

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ABUJA — President Muhammadu Buhari is seeking for the approval of the National Assembly to borrow fresh sums of $4,054,476,863 and €710 million in an addendum to the 2018-2020 borrowing plan. The president is also seeking the national assembly’s approval for a grant component of $125 million. The request was in a letter read by Senate President Ahmad Lawan on the floor of the upper legislative chamber on Tuesday. “I write on the above subject...

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BENIN — The Edo state government has said unvaccinated civil servants will be denied entry into government offices from Wednesday. Osamwonyi Irowa, permanent secretary, Edo ministry of health disclosed this on Tuesday. He stated that only those with the Covid-19 vaccination card will be allowed access to government facilities. Irowa asserted that this is the first phase of its enforcement of restrictions on large public gatherings for persons without evidence of COVID-19 vaccination. “If you...

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