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Monday, 08 May 2023 04:17

Max Air aircraft crash-lands in Abuja airport due to tyre burst

A Max Air aircraft reportedly crash-landed on Sunday at the Nnamdi Azikiwe International Airport, Abuja. The aircraft was said to be arriving from Yola, Adamawa state when the incident occurred. Faithful Hope-Ivbaz, spokesperson of the Federal Airports Authority of Nigeria (FAAN), confirmed the incident to TheCable but declined to give further details. According to Daily Trust, the incident occurred after the plane’s tyre burst into flames. The Aerodrome Rescue and Fire-fighting Service (ARFFS) at the airport reportedly put out the fire while the passengers were safely disembarked from the plane. The runway has been temporarily shut until the evacuation of…

Sunday, 07 May 2023 03:58

King Charles III crowned with regal pomp, cheers and shrugs - AP

King Charles III was crowned Saturday at Westminster Abbey, in a ceremony steeped in ancient ritual and brimming with bling at a time when the monarchy is striving to remain relevant in a fractured modern Britain. At a coronation with displays of royal power straight out of the Middle Ages, Charles was given an orb, a sword and scepter and had the solid gold, bejeweled St. Edward’s Crown placed atop his head as he sat upon a 700-year-old oak chair. In front of world leaders, foreign royals, dignitaries and a smattering of stars, the monarch declared, “I come not to…

Sunday, 07 May 2023 03:57

40 percent of savings in Nigerian banks now in US dollar. Here’s why

Over 40 percent of deposits in local banks are now in United States (U.S.) dollars, the International Monetary Fund (IMF) has said. It blamed the trend of saving in hard currency on rising inflation and exchange rate volatility. The IMF described the practice as a confirmation of loss of confidence in the local currency, adding that “it is usually difficult to reverse”. According to the IMF, market participants defend their wealth by shifting to dollar savings under high and persistent inflation. In its Report on dollar savings, the Fund said “Nigeria operates with dollar bias for international trade, finance invoicing…

Saturday, 06 May 2023 03:38

King Charles of Britain takes the crown today. Here’s how the 1,000 years old display of pageantry will go

Charles III will be crowned king on Saturday (today) in Britain's biggest ceremonial event for seven decades, a sumptuous display of pageantry dating back 1,000 years. Charles succeeded his mother Queen Elizabeth when she died last September and at 74, he will become the oldest British monarch to have the 360-year-old St Edward's Crown placed on his head as he sits upon a 14th century throne at London's Westminster Abbey. Watched by about 100 heads of state and dignitaries including U.S. first lady Jill Biden, Charles follows 40 predecessors in being crowned at the abbey - which has staged all…

Saturday, 06 May 2023 03:37

20 properties in UK with links to Tinubu, mostly acquired while in office as Lagos gov, uncovered - Premium Times

Nigeria’s president-elect, Bola Tinubu, whose victory in February is being challenged in court, has been keeping part of his wealth in the United Kingdom, where he and his close associates own at least 20 properties that were mostly acquired when Tinubu was governor of Lagos State. Following the 2023 presidential election, Tinubu is scheduled to succeed Muhammadu Buhari as president on 29 May 2023. His opponents claim the election was rigged. The 71-year-old is widely seen as Nigeria’s political kingmaker for his role in the elections of several governors in the country’s southwest region, as well as the election of…

Friday, 05 May 2023 03:46

Swearing in Tinubu before court verdicts on challenges to his election doesn’t make sense - Onaiyekan

In an interview with Channels Television on Thursday, former Catholic Archbishop of Abuja, John Onaiyekan, expressed doubts about the wisdom of swearing in President-elect Bola Tinubu before the conclusion of the election tribunal. Tinubu's victory in the presidential election is currently being contested in court by Atiku Abubakar of the Peoples Democratic Party (PDP) and Peter Obi of the Labour Party (LP). Onaiyekan suggested that the electoral process in the nation needs to be reevaluated, as it often produces winners who are plagued by legal challenges to their legitimacy. He argued that until the court has made a decision on…

Friday, 05 May 2023 03:43

70 percent of teachers in Southwest private schools unqualified - Regulator

Registrar of Teachers Registration Council of Nigeria, (TRCN), Josiah Ajiboye, says 70 per cent of teachers in private schools in the Southwest are unqualified. Speaking on Thursday in Abuja at the signing of the Memorandum of Understanding between the council and INSTILL Education on bringing in new dynamics into the profession, Ajiboye revealed that contrary to several speculations about the southwest and its teachers in private schools, 70 per cent were discovered not qualified. While lamenting that 70 per cent of the unqualified teachers lacked the prerequisite to be registered by the Council, the TRCN boss stated that a large…

Thursday, 04 May 2023 03:17

Buhari gets Senate’s retroactive approval for N22.7trn unauthorised loans from CBN

The federal government spent N22.7 trillion without prior approval from the National Assembly, but the Senate has now approved the spending after a report was presented by Ibrahim Gobir, the Senate Leader. The funds were borrowed by the federal government from the Central Bank of Nigeria through "ways and means advances" and were disbursed to various agencies, including the office of the Accountant-General of the Federation, Ministry of Foreign Affairs, Nigeria Bulk Electricity Trading, Azura Power West Africa, Niger Delta Power Holding Company, and Accugas Limited. President Muhammadu Buhari had requested approval for the spending in December 2022, but some…

Thursday, 04 May 2023 03:15

‘I owe you nothing’, Tinubu tells Wike after Rivers gov asked for refund of money spent on federal roads

President-elect, Bola Tinubu, on Wednesday, rejected a request made by the Rivers State Governor, Nyesom Wike, for a refund for the construction of some federal roads in the state. Tinubu spoke while inaugurating the Rumuokwuta-Rumuola Flyover in Obio/Akpor Local Government Area of Rivers State. While noting how the state had to amend its procurement law to enable it to source funds and complete the various flyover projects in embarked up in record time, Wike said the projects undertaken by the state ought to be done by the Federal Government. “And unfortunately too, these projects ought to be Federal Government projects…

Thursday, 04 May 2023 03:14

FG approves refund of N16bn spent on federal roads to Borno govt

Federal Government, on Wednesday, in Abuja, approved N16.77bn as reimbursement to Borno State Government for the money spent on the construction of federal roads. Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, disclosed this after this week’s Federal Executive Council meeting presided over by President Muhammadu Buhari at the State House, Abuja. Akande who did not give assurances of when the monies will be disbursed to the Northeastern state said the memo was put forward by the President himself. However, the disbursement will only follow a debt sustainability analysis to be carried out by the…

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Thursday, 04 May 2023 03:13

First batch of Nigerian evacuees from Sudan arrives Abuja

The first batch of Nigerians who fled the war in Sudan have returned to the country. Due to the closure of Sudanese Airspace, the Federal Government made arrangement for them to be conveyed to Egypt by road from where they were to connect flights back home. However, there was a major setback when the Egyptian authorities denied them access over documentation issues. The logjam continued for days until the Nigerian intelligence network struck a deal with its Egyptian counterpart. The Nigerians, who were airlifted on Wednesday evening, landed at the Nnamdi Azikiwe Airport, Abuja, around 11:30pm. Minister of Humanitarian Affairs…

Wednesday, 03 May 2023 14:26

Putin escapes death as Russian air defense shoots down drone attack on Kremlin

Russia accused Ukraine on Wednesday of attacking the Kremlin with drones overnight in a failed attempt to kill President Vladimir Putin. A senior Ukrainian presidential official denied the accusation - the most serious that Moscow has levelled at Kyiv in more than 14 months of war - and said it indicated Moscow was preparing a major "terrorist provocation". The Kremlin said Russia reserved the right to retaliate, and hardliners demanded swift retribution against Ukrainian President Volodymyr Zelenskiy. "Two unmanned aerial vehicles were aimed at the Kremlin. As a result of timely actions taken by the military and special services with…

Wednesday, 03 May 2023 01:38

FG moved to seize a London mansion; Bola Tinubu’s son now owns it - Bloomberg

A firm belonging to the son of Nigeria’s president-elect bought an $11 million London mansion that his predecessor’s government was seeking to confiscate as part of a probe into one of the biggest corruption scandals in the West African nation’s history, according to previously unreported UK company documents. There’s no suggestion that President-elect Bola Tinubu was personally involved in the acquisition of the UK property in 2017. Current President Muhammadu Buhari visited him there in August 2021, nearly four years after the purchase took place. Tinubu, who will take over as head of state this month, has long been questioned…

Wednesday, 03 May 2023 01:37

Phone calls, cigarettes, alcoholic drinks, others to cost more as FG rolls out new fiscal policy

The federal government recently unveiled new Fiscal Policy Measures (FPM) outlining the rates of taxes and excise duties for the current year. The new FPMs, which consist of Supplementary Protection Measures (SPM), revised excise duty rates, and green taxes; were recently approved by President Muhammadu Buhari. According to a recent circular signed by Zainab Ahmed, minister of finance, budget and national planning, the 2023 FPMs supersede the 2022 FPMs and will be published in the official federal government gazette. Already, stakeholders are having a grouse with the policy. For instance, Taiwo Oyedele, Africa tax leader at PricewaterhouseCoopers (PWC), highlighted key…

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