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Saturday, 09 April 2022 05:55

What to know after Day 44 of Russia-Ukraine war

Ukrainian President Volodymyr Zelenskyy denounced the missile strike on an eastern train station as another Russian war crime and said Ukraine expects a tough global response. “Like the massacres in Bucha, like many other Russian war crimes, the missile attack on Kramatorsk should be one of the charges at the tribunal that must be held,” he said during his nightly video address to the nation Friday. The president told Ukrainians that great efforts would be taken “to establish every minute of who did what,” so that those behind the attack would be held responsible. Zelenskyy said he spoke with EU…

Friday, 08 April 2022 06:26

RMAFC has proposed new revenue allocation formula. These are what FG, states, LGs, others will get if approved

Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has proposed a 3.33% reduction of the statutory allocation to the Federal Government. It however proposed increase of allocations to States and council areas by 3.07% and 0.44% respectively. The new adjustments to the revenue allocation formula due to the Federating units are contained in a report presented to President Muhammadu Buhari on Thursday by the RMAFC at the Presidential Villa, Abuja. In the new RMAFC proposal, the Federal Government, which currently receives 52.68% will now get 45.17%; States will take 29.79% as against the current 26.72% and the council areas will get…

Friday, 08 April 2022 06:25

Buhari seeks approval for more borrowing as 2022 budget deficit is projected to hit N7.35trn

President Muhammadu Buhari has written to the house of representatives seeking an increase in the 2022 budget deficit to be financed through borrowing from the domestic market. Buhari said this in a letter read by Femi Gbajabiamila, speaker of the house of representatives, on Thursday. The president said the total budget deficit is projected to increase by N965.42 billion to N7.35 trillion, representing 3.99% of GDP. He said the incremental deficit will be financed by new borrowings from the domestic market. The President also requested review of the 2022 Medium-Term Expenditure Framework (MTEF), upon which the budget was hinged. “As…

Friday, 08 April 2022 06:19

What to know after Day 43 of Russia-Ukraine war

The Biden administration on Thursday announced it is levying sanctions against Russia’s largest military shipbuilding and diamond mining companies. The move blocks their access to the U.S. financial system as the United States looks to exact more economic pain on President Vladimir Putin for the invasion of Ukraine. Alrosa is the world’s largest diamond mining company and accounts for about 90% of Russia’s diamond mining capacity, according to the U.S. Treasury Department. Alrosa generated over $4.2 billion in revenue in 2021. Diamonds are one of Russia’s top 10 non-energy exports by value. The State Department also said it was blacklisting…

Thursday, 07 April 2022 06:31

Court orders Buhari to give 35 percent of all appointments to women

A federal high court in Abuja has ordered the federal government to implement its 35 percent affirmative action policy on public service positions. Donatus Okorowo, the presiding judge, said this while delivering judgment on Wednesday in a suit filed by some women groups challenging the “marginalisation” of women by the federal government. The plaintiffs in the suit include the Incorporated Trustees of Nigerian Women Trust Fund, Women Empowerment and Legal Aid and Centre for Democracy and Development (West Africa.) Others are Women Advocates Research and Documentation Centre, Vision Spring Initiative and Women in Politics Forum. The president and Abubakar Malami,…

Thursday, 07 April 2022 06:30

Buhari signs Executive Order 11 on public buildings maintenance

President Muhammadu Buhari, yesterday, assented to Executive Order 11 (EO11) on national public buildings maintenance. The signing of the document preceded the weekly Federal Executive Council (FEC) meeting at the Council Chambers of the State House, Abuja. Speaking before appending his signature, the president directed all Ministries, Departments and Agencies of government (MDAs) to set up maintenance departments in line with the provisions of the new Executive Order. Buhari said the order now gives legal backing to the country’s national maintenance policy, following its earlier approval by FEC. He added that government had already started utilising the policy to give…

Thursday, 07 April 2022 06:29

Buhari redeploys minister

PRESS RELEASE President Muhammadu Buhari has approved immediate re-deployment of Mohammed H. Abdullahi as the new Minister of Environment with effect from 6th April, 2022. Until his appointment, Mohammed Abdullahi was Minister of State for Science, Technology and Innovation. The President hopes that he would bring his wealth of experience to bear on his new assignment for the growth of the country. Signed: Boss Mustapha Secretary to the Government of the Federation PT

Thursday, 07 April 2022 06:28

7 federal Permanent Secretaries re-deployed in new postings

President Muhammadu Buhari has approved the deployment and re-deployment of seven permanent secretaries in the federal civil service. Head of the Civil Service of the Federation (HoCSF), Folasade Yemi-Esan said this on Wednesday in a statement signed by Deputy Director, Communications in her office, Mohammed Abdulahi Ahmed. William Nwankwo Alo was redeployed from the Police Service Commission (PSC) to the Federal Ministry of Communications and Digital Economy; David Adejo Andrew was redeployed from the Office of the Secretary to the Government of the Federation (OSGF) Economic and Political Affairs Office (E & PAO) to the Federal Ministry of Education. Also,…

Thursday, 07 April 2022 06:27

Jonathan loses two aides in auto crash

Former President Goodluck Jonathan has expressed deep sadness over the tragic death of two police officers attached to him, in a road crash at the vicinity of the Nnamdi Azikiwe Airport, Abuja. The officers died in an accident which involved a car conveying them from the airport. Jonathan, in a statement by his Special Adviser (Media and Publicity), Ikechukwu Eze, described the incident as painful and heart-rending. He said that the sudden death of the two security details had thrown him into deep mourning. Jonathan noted with sadness that the deceased, Inspectors Ibrahim Abazi and Yakubu Toma, were fine officers…

Thursday, 07 April 2022 06:21

What to know after Day 42 of Russia-Ukraine war

Ukrainian President Volodymyr Zelenskyy has accused Russia of trying to hide the evidence of war crimes to interfere with the international investigation. “It seems that the Russian leadership was really afraid that the global anger over what was seen in Bucha would be repeated after what was seen in other cities,” Zelenskyy said in his daily nighttime video address to the nation late Wednesday. “We have information that the Russian troops have changed tactics and are trying to remove the dead people, the dead Ukrainians, from the streets and cellars of territory they occupied. This is only an attempt to…

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Thursday, 07 April 2022 06:18

US has imposed sanctions on Putin’s two daughters. Here’s what we know about them

Russia's President, Vladimir Putin, has always been guarded when it comes to questions over his family. In 2015, during one of his marathon news conferences, he dodged questions about his daughter's identities. "My daughters live in Russia and studied only in Russia, I am proud of them," he said. "They speak three foreign languages fluently. I never discuss my family with anyone." "Every person has a right for their fate, they live their own life and do it with dignity," he added. He might not want to name them, but others have. The latest round of US sanctions has targeted…

Wednesday, 06 April 2022 06:19

What to know after Day 41 of Russia-Ukraine war

Ukrainian President Volodymyr Zelenskyy says Russian forces still are trying to push deep into Ukraine in the east, but the Ukrainian army is holding them back. In his daily night-time video address to the nation late Tuesday, Zelenskyy said Ukraine was aware that Russia was gathering up reinforcements for another offensive. Zelenskyy also said Ukraine is outnumbered both in troops and equipment. “We don’t have a choice – the fate of our land and of our people is being decided,” he said. “We know what we are fighting for. And we will do everything to win.” __ Zelenskyy said late…

Wednesday, 06 April 2022 06:15

US stops Russian bond payments, raising risk of default

The United States stopped the Russian government on Monday from paying holders of its sovereign debt more than $600 million from reserves held at U.S. banks, in a move meant to ratchet up pressure on Moscow and eat into its holdings of dollars. Under sanctions put in place after Russia invaded Ukraine on Feb. 24, foreign currency reserves held by the Russian central bank at U.S. financial institutions were frozen. But the Treasury Department had been allowing the Russian government to use those funds to make coupon payments on dollar-denominated sovereign debt on a case-by-case basis. On Monday, as the…

Tuesday, 05 April 2022 06:09

FG admits failure to improve electricity despite spending N1.3 trillion in 4 years

Zainab Ahmed, minister of finance, budget and planning, says the N1.3 trillion intervention fund the federal government provided for the power sector has not yielded any significant result. On March 1, 2017, the federal government approved N701 billion as a power assurance guarantee fund for the Nigerian Bulk Electricity Trader (NBET) to pay for the electricity produced by the generation companies (GenCos) to the national grid for two years. The fund was provided to tackle the monthly liquidity challenges faced by GenCos, as the distribution companies (DisCos) kept defaulting in paying for the monthly invoice of electricity received. In a…

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