News

Wednesday, 21 December 2022 05:47

FIRS raked in N1.4trn from CIT, VAT in Q3, 2022 - NBS

National Bureau of Statistics (NBS) has disclosed that the Federal Inland Revenue Service (FIRS) generated N1.435trn from Value Added Tax (VAT) and Company Income Tax (CIT) in the third quarter of 2023. NBS, in reports it released, stated that FIRS made N810bn from CIT and N625bn from VAT. It stated that on aggregate, the CIT for Q3 2022 indicated a growth rate of 13.41 per cent on a quarter-on-quarter basis from N714.40 billion in Q2 2022. It stated also that sectoral contributions for the top three largest shares during the period were manufacturing with 28.76 (N138.9bn); information and communication with…

Wednesday, 21 December 2022 05:44

Germany returns 20 looted Benin Bronzes to Nigeria

Germany has handed over 20 Benin Bronzes from its museums to Nigeria, German Foreign Minister Annalena Baerbock said on Tuesday, making it the latest European country to return cultural artefacts to their African homeland. The handovers are the clearest sign yet of growing momentum towards the return of artefacts taken away from Africa by Europeans during the colonial period. Germany had agreed to start returning Benin Bronzes held in its museums last year. Earlier this year, Germany signed a declaration with Nigeria to release all 1,130 Benin Bronzes - actually copper alloy relief sculptures, many showing court figures - in…

Wednesday, 21 December 2022 05:41

What to know after Day 301 of Russia-Ukraine war

RUSSIAN PERSPECTIVE Macron doubles down on ‘security guarantees’ for Russia French President Emmanuel Macron has reiterated his belief that the conflict in Ukraine will inevitably be resolved at the negotiations table, and that the West and NATO in particular will have to come up with security guarantees not only for Kiev, but Moscow as well, to secure a lasting peace. “The day of peace will involve discussions. First and foremost for guarantees to Ukraine, for its territorial integrity, its long-term security. But also for Russia, as a party that it will be to an armistice and peace treaty,” Macron said…

Tuesday, 20 December 2022 06:06

DSS applied for a court order to arrest CBN gov Emefiele. The court said ‘No’ for these reasons

A federal high court sitting in Abuja has declined an application by the Department of State Services (DSS) to arrest and detain Godwin Emefiele, governor of the Central Bank of Nigeria (CBN). In declining the motion ex parte — filed by an applicant in the absence of the respondent — JT Tsoho, the chief judge, said the secret police did not provide any concrete evidence to substantiate its claims that Emefiele was involved in terrorism financing and economic crimes. Sources at the high court revealed that the judge said he should have been taken into confidence if there was any…

Tuesday, 20 December 2022 06:03

Ghana on the verge of bankruptcy as it declares inability to pay external debts

Ghana on Monday suspended payments on most of its external debt, effectively defaulting as the country struggles to plug its cavernous balance of payments deficit. Its finance ministry said it will not service debts including its Eurobonds, commercial loans and most bilateral loans, calling the decision an "interim emergency measure", while some bondholders criticised a lack of clarity in the decision. The government "stands ready to engage in discussions with all of its external creditors to make Ghana's debt sustainable", the finance ministry said. The suspension of debt payments reflects the parlous state of the economy, which had led the…

Tuesday, 20 December 2022 05:59

Russian envoy says it may seem U.S. 'winning,' but new World Order rising

Moscow's envoy in Washington, D.C. recently told Newsweek that, despite the United States' efforts to assert its global leadership through backing Ukraine in its war with Russia, a new international order is emerging in which the U.S. may stand to lose in the long run if it did not move to adapt. "The Ukrainian crisis is becoming, without exaggeration, a turning point in the history of international relations," Russian ambassador to the U.S. Anatoly Antonov told Newsweek. Antonov said that the developments of the past eight years, beginning in 2014 with the uprising that brought to power a pro-West government…

Tuesday, 20 December 2022 05:59

What to know after Day 300 of Russia-Ukraine war

WESTERN PERSPECTIVE Russian President Vladimir Putin made a rare trip Monday to Moscow’s ally Belarus as his forces pursued their campaign to bombard Ukraine from the air amid a broad battlefield stalemate almost 10 months into the war. Putin’s visit to Minsk came hours after Russia’s latest drone attack on Ukraine. Moscow has been targeting Ukraine’s power grid since October as part of a strategy to deprive the country of heat and power during winter. His brief trip could herald more military support for the Kremlin war effort, after Belarus provided Russia with a launching pad for the invasion of…

Monday, 19 December 2022 06:05

Nigeria gains N308.6bn extra revenue as fight against oil theft intensifies

Nigeria’s crude oil earnings rose by N308.6bn within two months following the recent increase in the country’s oil output due to concerted efforts by Nigerian National Petroleum Company Limited and security agencies to halt oil theft. Data accessed from the Nigerian Upstream Petroleum Regulatory Commission and other international agencies, on Sunday, showed that the country’s oil earnings moved up between September and November this year. Figures from the NUPRC showed that while Nigeria pumped 937,766 barrels of crude oil per day in September, its output moved up to 1,014,485 barrels per day in October. This represents an increase of 76,719…

Monday, 19 December 2022 06:04

Customers aren’t able to get new Naira notes as banks continue to dispense old currency - Report

Five days after the Deposit Money Banks (DMBs) began dispensing the newly-redesigned naira notes, depositors are lamenting the scarcity of fresh currency, as banks have continued to dish out the old notes slated to be binned by January 31, 2023. Against this backdrop, bank customers are querying the rationale behind having more of the old notes constituting the bulk of cash dispensed by the banks and Automated Teller Machines (ATMs), when their lifespan is barely a month away. Although the Central Bank of Nigeria (CBN) says the volume of the new notes would be far less than what currently obtains…

Monday, 19 December 2022 06:02

62 Army Generals set to retire before year’s end - Report

Sixty-two Generals will retire from the Nigerian Army in 2022. Nigerian Army, on Saturday, treated the retired and retiring generals to a regimental dinner and awards to honour them for their 35 years of meritorious service to the nation. The senior officers comprising 24 major generals and 38 brigadier generals are those who retired or are due to retire within 2022. Chief of Defence Staff, Lucky Irabor, said the event signified the beginning of a process for the retired and retiring senior officers who would transition into another phase of life that would be slightly different from what they were…

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Monday, 19 December 2022 06:01

SSS withdraws officers from Osun gov

State Security Service (SSS) has withdrawn its personnel attached to Osun State Governor, Ademola Adeleke. It was gathered that the security agency withdrew the personnel on Thursday following a disagreement between the personnel and police officers in the governor’s convoy. SSS headquarters said it would not return its officers until Adeleke has addressed the situation. Sources in the governor’s convoy told our reporter that the disagreement started after the Aide de Camp (ADC) to the governor invited some police officers from the Subsidiary Intelligence Bureau (SIB) to replace the SSS personnel in the governor’s convoy. The head of SSS personnel…

Monday, 19 December 2022 05:59

What to know after Day 299 of Russia-Ukraine war

WESTERN PERSPECTIVE Ukraine's President Volodymyr Zelenskiy said on Sunday the world still had heard his call for peace despite soccer governing body FIFA's decision to decline to allow a video message to be broadcast ahead of the soccer World Cup final in Qatar. Zelenskiy had asked for the video to be broadcast, including his call to hold a global peace conference to help resolve the war triggered by Russia's invasion of Ukraine. Ukrainian soccer players and other officials had publicised the message, he said. "Even though FIFA blocked this message from being aired at the stadium before the final game…

Sunday, 18 December 2022 05:55

What to know after Day 298 of Russia-Ukraine war

RUSSIAN PERSPECTIVE Russian troops have received a fresh batch of ‘Penicillin’ advanced reconnaissance systems, RIA Novosti news agency reported on Saturday, citing a source. The hardware is expected to be deployed in Ukraine. According to RIA, the Russian Defense Ministry “received another batch of the advanced 1B76 Penicillin acoustic and infrared reconnaissance systems,” adding that the device “effectively detects the positions of the Ukrainian artillery and transmits coordinates for their prompt destruction.” Another source earlier told the agency that Penicillin artillery trackers had proved their worth in the Ukraine conflict, as they are able to target, among other things, NATO-grade…

Saturday, 17 December 2022 06:02

Hunger levels in Nigeria, others set to hit all-time high - UN

The number of people struggling to get enough food in West and Central Africa is expected to rise to an all-time high of 48 million by mid-2023, the United Nations said on Friday. About 35 million people - or about 8% of the assessed population - are suffering from "food insecrity" across the region, according to analysis by an alliance of U.N. agencies. Many countries have been hit by a combination of conflict, climate change, and rising prices. Floods this year have been particularly bad in Chad and Nigeria. The countries with the highest hunger levels are Mali, Burkina Faso…

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