French President Host African Leaders on Post-Covid African Financing

AfricaBusinessInvestingFrench President Host African Leaders on Post-Covid African Financing

Bada Yusuf Amoo (Correspondent)May 18, 2021

France President, Emmanuel Macron, on Tuesday, hosted African leaders and global financial institutions for a summit seeking to provide Africa with critical financing after the coronavirus pandemic that drained the coffers of the continent. Africa has so far been less badly hit by the pandemic than other global regions — with a total of 130,000 dead across the continent, compared with 3.4 million worldwide. But the economic cost is only too apparent, with the International...

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Avoid Past Mistakes With Sale of GenCos, Group Advises FG

BusinessPowerAvoid Past Mistakes With Sale of GenCos, Group Advises FG

PilotnewsMay 18, 2021

LAGOS — A group, the All Electricity Consumers Protection Forum (AECPF), has advised the Federal Government to avoid mistakes of the past in its plan to sell five power Generation Companies (GenCos) to investors. Mr. Adeola Samuel-Ilori, National Coordinator, AECPF, gave the advice in an interview with the News Agency of Nigeria (NAN) on Tuesday in Lagos. NAN reports that the Bureau of Public Enterprises (BPE) had recently called for investors to acquire 100 per...

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Thugs Attack Striking Workers, Governor El-Rufai Dismisses All Nurses Below Level 14

JobsLabourThugs Attack Striking Workers, Governor El-Rufai Dismisses All Nurses Below Level 14

Hassan Umar Shallpella (Regional Correspondent)May 18, 2021

The five-day warning statewide strike embarked by Nigeria Labour Congress (NLC) in Kaduna state has taken a new dimension as thugs have attacked the striking workers, while the state Governor Malam Nasir El-Rufai announced the dismissal of all nurses below level 14. The governor’s action is linked to a tweet he made earlier when he stated that Barau Dikko Teaching hospital had reported that nurses disconnected oxygen from a two-day-old baby in an incubator on...

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Governors to Meet Over Financial Autonomy for State Legislature, Judiciary

EconomyGovernors to Meet Over Financial Autonomy for State Legislature, Judiciary

Beloved John (Staff Writer)May 18, 2021

To deliberate on the executive order which grants financial autonomy to the state legislature and judiciary, all teleconferences have been scheduled for all governors. The conference which is to hold on Wednesday will also address the measures in place to prevent a third wave of COVID-19 infections in the country. This development was disclosed on Monday in a statement signed by Abdulrazaque Bello-Barkindo, head of media and public affairs of the Nigeria Governors’ Forum (NGF)....

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Nigeria Labour Congress Grounded Economic Activities In Kaduna State

JobsLabourNewsNigeria Labour Congress Grounded Economic Activities In Kaduna State

Hassan Umar Shallpella (Regional Correspondent)May 17, 2021

Economic activities in Kaduna State have been grounded following a five-day warning strike embarked on by the Nigeria Labour Congress (NLC) over sacking of civil servants by the Governor Nasir El-Rufai-led government. NLC declared strike after the government failed to reverse the mass sack of workers. Kaduna State secretariat, which houses about 10 ministries, is under lock and key, banks, filling stations, shops, offices both public and private, markets as well as other commercial activities...

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NGX Opens Week With 0.44% Loss

BusinessInvestingNGX Opens Week With 0.44% Loss

PilotnewsMay 17, 2021

The Nigerian stock market began trading for the week on Monday with 0.44 per cent loss, amid losses recorded by some blue chips. Specifically, the All-Share Index decreased by 175 points or 0.44 per cent to close at 39,306.47 from 39,431.47 achieved on Friday. Similarly, the market capitalisation which opened at N20.579 trillion lost N92 billion to close at N20.487 trillion. The downtrend was driven by price depreciation in medium and large capitalised stocks amongst...

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President Buhari To Attend African Finance Summit In Paris

AfricaEconomyPresident Buhari To Attend African Finance Summit In Paris

Hassan Umar Shallpella (Regional Correspondent)May 16, 2021

Nigeria’s President, Muhammadu Buhari will on Sunday depart Abuja for Paris, France, on a four-day official visit to attend African Finance Summit. The Summit will be focused on reviewing the African economy, following shocks from the Coronavirus pandemic, and getting relief, especially from increased debt burden on countries. Garba Shehu, Senior Special Assistant to the President (Media & Publicity) in a statement on Saturday said the Summit will be hosted by President Emmanuel Macron. The...

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Three Years After, Experts Evaluate Nigeria-China Currency Swap

ChinaMoneyNigeriaThree Years After, Experts Evaluate Nigeria-China Currency Swap

Bada Yusuf Amoo (Correspondent)May 15, 2021

LAGOS — Some Financial Economists have expressed great concerns about the minor influence that the Nigeria-China currency swap had on the country’s economy, three years after. The experts told newsmen in Lagos on Friday that the volume of currency import so far traded, had not been significant, though a few swaps took place. The pact which marked three years of implementation in April was signed on April 27, 2018, to ease demand pressure on the...

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ICPC Hunts Buhari’s Inlaw, Two Others Over $65m National Housing Funds

BusinessCorruptionLaw & JusticeICPC Hunts Buhari’s Inlaw, Two Others Over $65m National Housing Funds

Hassan Umar Shallpella (Regional Correspondent)May 14, 2021

ABUJA — The Independent Corrupt Practices and other related offenses Commission (ICPC) has declared Gimba Kumo, former managing director of the Federal Mortgage Bank of Nigeria a son-in-law of President Muhammadu Buhari, and two others wanted over alleged misappropriation of $65 million National Housing Funds. In the notice signed by its spokesperson Azuka Ogugua, the ICPC declared Mr. Kumo wanted alongside Tarry Rufus and Bola Ogunsola over the alleged fraud. “The persons whose pictures appear...

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Buhari Vows to Control Nigeria’s Insecurity Amidst Uncertainty

EconomyNational SecurityNigeriaBuhari Vows to Control Nigeria’s Insecurity Amidst Uncertainty

Beloved John (Staff Writer)May 14, 2021

ABUJA — In a major step toward addressing the heightened insecurity across the nation, President Muhammadu Buhari has pledged to put every available resource to use in the fight against insecurity in Nigeria. In a statement by his spokesperson, Garba Shehu, the president linked the activities of the bandits to food security. He affirmed that the violent attacks will be addressed to ensure the nation’s food security is not threatened. “Mr. Buhari has been criticized...

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