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Thursday, 23 June 2022 06:48

Sri-Lanka’s economy has completely collapsed, Prime Minister cries out

Sri Lanka’s prime minister says its debt-laden economy has “collapsed” after months of shortages of food, fuel and electricity. Prime Minister Ranil Wickremesinghe told Parliament on Wednesday that the South Asian country is “facing a far more serious situation beyond the mere shortages of fuel, gas, electricity and food. Our economy has completely collapsed.” Wickremesinghe is also the finance minister tasked with stabilizing the economy. He said Sri Lanka is unable to purchase imported fuel, even for cash, due to heavy debts owed by its petroleum corporation. He said the government missed out on the chance to turn the situation…

Thursday, 23 June 2022 06:47

What to know after Day 119 of Russia-Ukraine war

Ukraine's President Volodymyr Zelenskiy on Wednesday hailed the European Union's expected offer of candidate status for his battle-weary nation, as Russian forces pounded Ukraine's second-biggest city Kharkiv and the eastern Donbas region. European leaders will formally set Ukraine on the long road to EU membership at a summit in Brussels on Thursday (today). Though mainly symbolic, the move will help lift national morale at a very difficult time in a four-month conflict that has killed thousands, displaced millions and flattened towns and cities. The war has also had a massive impact on the global economy and European security arrangements, driving…

Wednesday, 22 June 2022 06:51

I have done well in improving the economy, securing Nigeria, fighting corruption - Buhari

President Muhammadu Buhari says around $386 million was recovered in 2021 through the whistleblowing policy enacted by his administration in an attempt to repatriate looted funds back into the country and curb corruption. The president said this on Tuesday in an interview with Bloomberg. Buhari spoke on the performance of his administration in the area of economic growth, security, and corruption since 2015 when he was elected president. He said through the whistleblowing policy, established in the first year of his government, hundreds of millions in stolen funds have been returned to Nigeria. “As an illustration, monetary recoveries (January-December) 2021…

Wednesday, 22 June 2022 06:47

Transport costs rise nationwide as fuel scarcity worsens

Fuel scarcity worsened in Lagos, the Federal Capital Territory and other parts of the country on Tuesday, resulting in motorists spending hours at filling stations. For oil marketers, the solution to the worsening fuel queues across the country is for the Federal Government to approve an increase in the pump price of the commodity. Although some marketers had already raised the price of fuel in their outlets, they admitted that the move had not been approved by the government, noting that dealers could be sanctioned for selling above the regulated rate. The approved pump price of Premium Motor Spirit, popularly…

Wednesday, 22 June 2022 06:44

What to know after Day 118 of Russia-Ukraine war

Ukrainian and Russian forces remained entrenched in eastern Ukrainian battlegrounds going into Wednesday, a day of commemoration in both countries to mark the anniversary of Hitler's invasion of the Soviet Union in 1941. Fighting in the months-long war has favored Russia in recent weeks because of its huge edge in artillery firepower, a fact Ukrainian President Volodymyr Zelenskiy acknowledged in a late Tuesday night address. "Thanks to tactical maneuvers the Ukrainian army is strengthening its defences in the Luhansk region," he said. "That is really the toughest spot. The occupiers are also pressing strongly in the direction of Donetsk." Luhansk…

Tuesday, 21 June 2022 11:43

Buhari has sent 7 names for Senate confirmation as Ministers. These are the nominees

President Muhammadu Buhari has nominated seven persons for screening and confirmation by the Senate for appointment as Ministers. Senate President Ahmad Lawan read Buhari’s letter of request on the floor of the Senate, in Abuja. In the letter read by the Senate President on Tuesday, Buhari said the nominees would replace the former ministers that resigned from his cabinet. The letter read in part, “In accordance with Section 8 Subsection 2 of the Constitution of the Federal Republic of Nigeria as amended, I hereby forward the underlisted ministerial nominees for your confirmation. The nominees are: Henry Ikechukwu Ikoh – Abia…

Tuesday, 21 June 2022 11:42

Tanko Muhammad has responded to Supreme Court justices’ protest letter. This is the CJN’s reply

Chief Justice of Nigeria (CJN), Tanko Muhammad, has responded to a protest letter sent to him by 14 Justices of the Supreme Court complaining of poor welfare conditions and the deplorable state of the court. The reply in full: The Chief Justice of Nigeria, Justice Ibrahim Tanko Mohammad would wish to confirm receipt of letter written and addressed to him by his brother Justices of the Supreme Court Bench. Judges in all climes are to be seen and not heard, and that informed why the CJN refrained from joining issues until a letter, said to be personal, is spreading across…

Tuesday, 21 June 2022 05:58

This is the ‘height of decadence, and clear evidence of the absence of probity and moral rectitude’, Supreme Court Justices write a stinger to the CJ. Here is the letter

My Lord The Honourable Chief Justice of Nigeria, we the entire Justices of the Supreme Court of Nigeria, carefully reviewed the state of affairs in this Court and unanimously resolved to write formally and draw the attention of Your Lordship to our demands. As a preamble, let it be clearly understood that, the resolution to write Your Lordship was reached with all sense of responsibility. We are serving this Country diligently and to the best of our ability. We resolve disputes between the Executive and the Legislature including all manner of disagreements, between governments and individuals. We are responsible citizens…

Tuesday, 21 June 2022 05:54

What to know after Day 117 of Russia-Ukraine war

Monday, 20 June 2022 07:07

Nigeria’s debt servicing increased 109 percent in Q1, 2022 - DMO

Nigeria’s debt servicing bill has increased by 109 per cent to N896.56bn. As a result, the country has also spent N3.83tn on debt servicing payments in 15 months, according to data obtained from the Debt Management Office. While a total of N2.93tn was spent on debt servicing payments in 2021, a total of N896.56bn was spent in the first quarter of 2022. Meanwhile, between October and December 2021, Nigeria spent N310.5bn on domestic debt servicing, while it spent $286.35m (N118.9bn) on external debt servicing, giving a total of N429.4bn. However, between January and March 2022, Nigeria spent N668.69bn on domestic…

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Monday, 20 June 2022 07:05

NUT national president, 2,356 other teachers sacked by Kaduna govt

Kaduna State Universal Basic Education Board (KADSUBEB) says it has dismissed 2,357 teachers who failed the recently conducted competency test. Its spokesperson, Hauwa Mohammed, in a statement on Sunday in Kaduna, said the board conducted a competency test for over 30,000 teachers in December 2021. She said that 2,192 primary school teachers including the National President of the Nigeria Union of Teachers (NUT), Audu Amba, had been dismissed for refusing to sit for the competency test. She said that some 165 of the 27,662 teachers that sat for the competency test were also sacked for poor performances. It would be…

Monday, 20 June 2022 06:56

What to know after Day 116 of Russia-Ukraine war

Ukraine's President Volodymyr Zelenskiy predicted Russia will escalate its attacks this week as European Union leaders consider whether to back Kyiv's bid to join the bloc and Moscow presses its campaign to win control of the country's east. "Obviously, this week we should expect from Russia an intensification of its hostile activities," Zelenskiy said in his Sunday nightly video address. "We are preparing. We are ready." Ukraine applied to join the EU four months after Russian troops poured across its border in February. The EU's executive, the European Commission, on Friday recommended that Ukraine receive candidate status. Leaders of the…

Sunday, 19 June 2022 03:12

Russia preparing for 'big, colossal war' with NATO, says Major General

Russian state television has again pushed the idea that the war in Ukraine could escalate, with one guest warning that the world should be prepared for a "colossal" conflict involving NATO. Programs on the channel Russia-1 have repeatedly promoted the prospect of the Russian invasion of Ukraine spreading beyond the country's borders. On Wednesday, the host of Evening with Vladimir Solovyev revisited the theme, starting his show with a monologue in which he said he had a "feeling that we don't fully understand the gravity of this moment." Solovyev questioned why a war, which while "intensive" is in "no way…

Sunday, 19 June 2022 03:11

What to know after Day 115 of Russia-Ukraine war

Head of NATO said on Sunday the war in Ukraine could last years and Ukrainian forces faced intensified Russian assaults after the EU executive recommended that Kyiv should be granted the status of a candidate to join the bloc. NATO Secretary General Jens Stoltenberg was cited by Germany's Bild am Sonntag newspaper as saying the supply of state-of-the-art weaponry to Ukrainian troops would increase the chance of liberating the eastern Donbas region from Russian control. "We must prepare for the fact that it could take years. We must not let up in supporting Ukraine," he said. "Even if the costs…

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