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Saturday, 01 October 2022 07:09

What to know after Day 220 of Russia-Ukraine war

Russian forces in Ukraine were potentially on the verge of one of their worst defeats of the war after Ukrainian troops captured two villages close to the eastern Russian-occupied stronghold of Lyman. ANNEXATION * Russian President Putin proclaimed the annexation of territory seized in his invasion in four regions amounting to 15% of total Ukrainian territory while Kyiv said it would continue its fight to retake occupied land. * Before signing documents to annex four regions - an act denounced as illegal by Ukraine, the United States, the European Union and the head of the United Nations - Putin delivered…

Friday, 30 September 2022 06:21

What to know after Day 219 of Russia-Ukraine war

Russia planned to annex more of Ukraine on Friday in an escalation of the seven-month war that was expected to isolate the Kremlin further, draw more international punishment and bring Ukraine extra military, political and economic support. The annexation — and planned celebratory concerts and rallies in Moscow and the occupied territories — would come just days after voters supposedly approved Moscow-managed “referendums” that Ukrainian and Western officials have denounced as illegal, forced and rigged. Kremlin spokesman Dmitry Peskov told reporters Thursday that four regions of Ukraine — Luhansk, Donetsk, Kherson and Zaporizhzhia — would be folded into Russia during…

Friday, 30 September 2022 06:12

$3bn payment into FAAC in 2020, $1.4bn in 2021, zero in 2022. Here’s how Nigeria squandered price boom that benefited oil exporters globally

Nigeria has failed to capitalise on an oil price boom that has helped cushion other exporters from the impact of inflation, with millions more Nigerians now facing poverty. Data from Nigeria's state oil company NNPC shows that it did not contribute anything to state coffers in the first eight months of 2022, despite crude prices averaging $94 a barrel so far this year, a rise of 42% from last year. At the heart of Nigeria's problem is that despite being Africa's biggest oil and gas producer, the country depends almost entirely on imports to cover its petroleum needs. It then…

Friday, 30 September 2022 06:08

62 lawyers emerge as SANs. These are the new appointees

PRESS RELEASEThe Legal Practitioners’ Privileges Committee (LPPC) under the chairmanship of His Lordship, Olukayode Ariwoola, Acting Chief Justice of Nigeria, at its 154th plenary session held today 29th September, 2022, has approved the elevation of 62 legal practitioners to the Inner Bar. The rank of a Senior Advocate of Nigeria (SAN) is awarded as a mark of excellence to members of the legal profession who have distinguished themselves as advocates and academics. The swearing – in ceremony of the 62 legal practitioners is scheduled to take place on Monday the 21st day of November 2022.The new appointees for year 2022…

Friday, 30 September 2022 06:07

ICAN members drag FIRS to court over tax seal

Five Accountants have dragged the Federal Inland Revenue Service before the Federal High Court in Lagos over its plan to coerce tax practitioners to use a seal of the Chartered Institute of Taxation of Nigeria for filing of annual returns to the Service from October 1, 2022. They filed the suit, marked FHC/L/CS/1837/2022, through their counsel Olaniyi George on behalf of themselves and members of Licensed and Concerned Members of the Institute of Chartered Accountants of Nigeria. The five plaintiffs are Afolabi Igbaroola, Ademola Ogunsesan, T.J. Ishola, Gbenga Afolabi and Abiodun Adedeji who are members of ICAN. FIRS is the…

Thursday, 29 September 2022 06:54

‘Nigerians are sparkling like diamonds in the pack’ among nations, FG says as Monday is declared holiday for Independence Day

Federal Government on Wednesday declared Monday, October 3, 2022, as public holiday to mark the nation’s 62nd Independence anniversary celebration. Minister of Interior, Rauf Aregbesola, who made the declaration on behalf of the Federal Government, congratulated all Nigerians on this year’s celebration. Aregbesola in a statement signed by the Ministry’s Permanent Secretary, Shuaib Belgore, assured of government’s commitment to tackling all the challenges facing the nation and bringing smiles to the faces of all the people, reiterating the eminent position of Nigeria in the comity of nations and the greatness ahead of the country. He said “The world is going…

Thursday, 29 September 2022 06:50

US, Europe running out of weapons to send to Ukraine

NATO Secretary-General Jens Stoltenberg held a special meeting of the alliance's arms directors to discuss ways to refill member nations' weapons stockpiles. But ramping up defense production is no quick or easy feat. The U.S. has been by far the largest supplier of military aid to Ukraine in its war with Russia, providing $15.2 billion in weapons packages to date since Moscow invaded its neighbor in late February. In the U.S. weapons industry, the normal production level for artillery rounds for the 155 millimeter howitzer — a long-range heavy artillery weapon currently used on the battlefields of Ukraine — is…

Thursday, 29 September 2022 06:48

What to know after Day 218 of Russia-Ukraine war

Moscow was poised to annex a swath of Ukraine, releasing what it called vote tallies showing support in four partially occupied provinces to join Russia, after what Kyiv and the West denounced as illegal sham referendums held at gunpoint. REFERENDUM * On Moscow's Red Square, a tribune with giant video screens has been set up, with billboards proclaiming "Donetsk, Luhansk, Zaporizhzhia, Kherson - Russia!" * Head of the upper house of the Russian parliament said it could consider the incorporation of the four regions on Oct. 4, three days before Russian President Putin's 70th birthday. * Residents who escaped to…

Wednesday, 28 September 2022 06:19

CBN hikes rate to highest level to fight inflation, Naira devaluation

Central Bank of Nigeria on Tuesday hiked its main lending rate by 150 basis points to 15.50%, its highest level yet and more than forecast, forging ahead with efforts to rein in inflation and ease pressure on the currency. A Reuters poll of economists had predicted a much smaller 50 basis point hike. But with inflation at its highest in 17 years, CBN Governor Godwin Emefiele said the Monetary Policy Committee had to continue with an aggressive stance. Annual inflation rose for a seventh straight month in August to 20.52% from 19.64% in July. Tuesday's rate hike, the third in…

Wednesday, 28 September 2022 06:18

Bill increasing number of Appeal Court judges from 90 to 110 passes in Senate

Senate has passed a bill seeking to increase the maximum number of judges in the appeal court from 90 to 110. The upper legislative chamber passed the bill on Tuesday after Opeyemi Bamidele, chairman of the senate committee on judiciary, presented a report. The bill was sponsored by Chukwu Utazi, senator representing Enugu north. Increasing the number of judges, Bamidele explained, is an effort to eliminate delay in the delivery of justice. According to him, the bill was designed to bring justice closer to litigants in line with the “current reality at expediting the administration of justice”. “This is necessary…

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Wednesday, 28 September 2022 06:17

Presidency to Akeredolu: Mind your speech, no state security outfit authorised to use AK-47

In an apparent response to Governor Rotimi Akeredolu of Ondo State, the presidency has stated that no state’s security forces have been permitted to use automatic rifles such as AK-47s. In a statement sent to journalists Tuesday evening, Garba Shehu, spokesperson of President Muhammadu Buhari, said the president “has repeatedly made it clear that nobody is allowed to illegally carry AK-47 or any other automatic weapons and that they must surrender them.” It would be recalled that Akeredolu had questioned why a security outfit established by Katsina State was allowed to carry AK-47s but security outfits established by states in…

Wednesday, 28 September 2022 06:17

There are ‘extraordinarily high numbers of children with malnutrition in Northwest Nigeria’ - MSF

Nigeria faces worsening malnutrition in the Northwest due to insecurity, high food prices and the impact of climate change, Medicines Sans Frontiers (MSF) said on Tuesday, calling for the region to be included in United Nations funding plans next year. Gunmen have terrorised the Northwest, killing and kidnapping people for ransom this year. Africa's most populous nation is already grappling with an Islamist insurgency that has displaced at least two million people in more than a decade. Insecurity has prevented some farmers from planting in a region now experiencing some of its worst flooding in years. MSF said it had…

Wednesday, 28 September 2022 06:16

Trains for Lagos metro rail project arrive

Lagos State government has taken delivery of new trains from Milwaukee, United States, for its red line rail project. The state Commissioner for Information and Strategy, Gbenga Omotoso, made this known in a statement on his Facebook page on Tuesday. Omotoso noted the delivery of the new trains was ahead of the rail system, scheduled to begin operation in the first quarter of 2023. Omotoso wrote, “Another major milestone in the drive by Lagos state to deliver the operation of the red line rail system by first quarter 2023. “The Talgo series 8 Trains acquired for the red line have…

Wednesday, 28 September 2022 06:14

What to know after Day 217 of Russia-Ukraine war

Russian-installed officials in four occupied regions of Ukraine reported huge majorities of votes in favour of joining Russia as the United States planned a U.N. resolution condemning the referendums as shams and Moscow remained defiant. * Europe is investigating what Germany, Denmark and Sweden said were attacks that caused major leaks into the Baltic Sea from two Russian gas pipelines at the centre of an energy standoff. It remains unclear who might be responsible. * Head of the upper house of the Russian parliament said that if the vote results were favourable it could consider the incorporation of the four…

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