Dr Akinwumi Adesina, President of African Development Bank (AfDB), has maintained innocence with regards to allegations that seek to impugn his honour and the reputation of the bank. Adesina said this in a statement he personally signed and issued on Wednesday. The News Agency of Nigeria (NAN) recalls that United States Department of Treasury had called for an independent probe of allegations levelled against Adesina on corruption after being cleared by the bank’s ethics committee....
The police on Wednesday confirmed the arrest of the leader of a syndicate who allegedly specialises in adulterating Nigerian-made fertilisers in Niger. The Command PPRO, ASP Wasiu Abiodun, told the News Agency of Nigeria (NAN) on Wednesday over the telephone that the arrest was made possible following intelligence report. He said the suspect, identified as Alhaji Maikudi Abdullahi, was arrested following intelligence reports of the “surreptitious activities” in his factory called “Farm Centre ”. According...
New York Governor Andrew Cuomo rang the opening bell on the New York Stock Exchange on Tuesday, as a limited number of traders returned to the historic floor for the first time since March. The coronavirus pandemic in New York City has been particularly severe. The city has suffered some 20,000 deaths, about a fifth of the total across the whole of the United States. The exchange floor closed after an outbreak of several cases within the building....
Latin America’s biggest airline, the Chile-based LATAM, on Tuesday filed for bankruptcy under the U.S. Chapter 11 bankruptcy code after the COVID-19 pandemic decimated passenger demand. “The Chapter 11 financial reorganization process is a proven legal framework under which LATAM and affiliates will have the opportunity to resize their operations to the new demand environment and reorganise their balance sheets,” the airline said in a statement. The group attributed its financial difficulties to the novel...
French President Emmanuel Macron on Tuesday promised more than 8 billion euros (8.8 billion dollars) to boost the country’s automobile industry, hard-hit by the coronavirus pandemic. In return, carmakers Renault and PSA – which makes Peugeot, Citroen, DS and Opel cars – had promised to maintain production on French soil and move higher-value activities back from overseas, Macron said. The announcements came days before Renault is due to announce a 2-billion-euro cost-cutting plan. The carmaker...
South Africa’s rand raced to its highest in more than eight weeks against the U.S. dollar on Tuesday, as optimism about a global recovery from the COVID-19 pandemic boosted riskier assets, with investors looking past Sino-U.S. trade tensions. At 0605 GMT, the rand traded at 17.4700 per dollar, 0.91 per cent firmer than its previous close. The currency was at its strongest since March 27. “The optimistic recovery narrative is holding within markets, keeping the...
Gov. Bello Matawalle of Zamfara, on Sunday, announced his administration’s readiness to train and engage about 700 youths in community policing across the state. Matawalle made the disclosure while addressing people at his Maradun country home, as part of activities lined up for this year’s Eid-El Fitr celebrations. The governor, who said that 50 youths would be selected from each of the 14 local government areas of the state, added that the beneficiaries would be...
President Muhammadu Buhari has challenged Nigerian farmers on the need to embark on massive productive agricultural activities this farming season as Nigeria has no money for food importation. The president gave the challenge shortly after observing this year’s Eid prayer alongside members of his family and few presidential aides at the presidential villa, Abuja, on Sunday. The News Agency of Nigeria (NAN) reports that Eid-El-Fitr prayer was observed in line with the protocol against mass...
Carbon Express enables users to initiate and complete transactions such as P2P transfers and bill payments from the keyboard without launching the Carbon App or leaving the current app that they are using. Instead, they will be able to access services from the touch of their keyboard enabling quicker Instagram or Whatsapp commerce. Carbon Express maintains the same PCI DSS compliant model of encryption, authentication, and security as Carbon’s other services, thereby guaranteeing the security...
The early action by Nigeria to tap cheap loans has increased the risk perception among foreign investors. This led to a fall in the borrowing cost of the country. According to Bloomberg, “Yields on Nigeria’s dollar bonds maturing in 2047 fell from an all-time high of 13.2% on March 19 to 9.1% on Wednesday. This is as the West African nation presented a revised $27 billion budget to the cabinet that kept spending intact, with...
