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Monday, 28 March 2022 06:27

Dollar vs Yuan: China gains as a reserve currency, says IMF

The IMF says the dollar has lost ground in its share of international currency reserves. The dollar's dominance has been dented due to central banks looking to diversify their holdings. China has pushed for greater adoption of the yuan, and recently held talks with Saudi Arabia for a yuan-based oil deal. The dollar share of international reserves has been in decline over the past two decades as central banks look to diversify their holdings into the Chinese yuan and other currencies, according to a new report by the International Monetary Fund. The dent in the dollar's dominance, though, is not…

Monday, 28 March 2022 06:25

What to know after Day 32 of Russia-Ukraine war

With peace talks between Russia and Ukraine set to take place in Turkey this week, Ukrainian President Volodymyr Zelenskiy insisted on the territorial integrity of his country after earlier suggesting he was ready for a compromise. Zelenskiy said in his video address to the Ukrainian people late on Sunday that in talks due to take place in Istanbul his government would prioritise the "territorial integrity" of Ukraine. But in comments made to Russian journalists earlier in the day Zelenskiy adopted a different tone, saying Ukraine was willing to assume neutral status and compromise over the status of the eastern Donbas…

Monday, 28 March 2022 06:24

Reactions to Biden saying Putin 'cannot remain in power'

Following are reactions to U.S. President Joe Biden’s remark on Saturday that Kremlin chief Vladimir Putin “cannot remain in power”. BIDEN “For God’s sake, this man cannot remain in power,” Biden told a crowd in Warsaw after condemning the Russian president’s month-long war in Ukraine. Biden cast Russia’s invasion of Ukraine as a battle in a much broader conflict between democracy and autocracy. “The battle for democracy could not conclude and did not conclude with the end of the Cold War,” Biden said. “Over the last 30 years, the forces of autocracy have revived all across the globe.” Official transcript…

Sunday, 27 March 2022 06:43

Wreckage of missing NAF jet found in Sambisa forest one year after

Carcass of Alpha Jet which went missing almost one year ago has been found in Sambisa Forest, Borno State. The Nigerian Army which disclosed this in a brief statement on Saturday said troops of Operation Desert Sanity uncovered the wreckage. The aircraft (NAF 475), which had two crew members on board, had gone off the radar on March 31, 2021. The statement read, “Troops of Operation Desert Sanity on clearance patrol in Sambisa Forest, Borno State, have uncovered the wreckage of crashed Alpha Jet aircraft (NAF475) that went off the radar with two crew members on 31 March 2021. Further…

Sunday, 27 March 2022 06:42

Biden says Putin 'cannot remain in power' in fiery speech on Ukraine war

U.S. President Joe Biden said that Russia's leader Vladimir Putin "cannot remain in power" in Poland Saturday, remarks a White House official said later were meant to prepare the world's democracies for extended conflict over Ukraine, not back regime change in Russia. Biden's comments on Saturday, including a statement earlier in the day calling Putin a "butcher," were a sharp escalation of the U.S. approach to Moscow over its invasion of Ukraine. In a major address delivered at Warsaw's Royal Castle, Biden evoked Poland's four decades behind the Iron Curtain in an effort to build a case that the world's…

Sunday, 27 March 2022 06:41

Kremlin hits out at Biden’s insults against Putin

US President Joe Biden’s personal insults against Russian President Vladimir Putin narrow the window of opportunity for improving relations between Moscow and Washington, Kremlin Spokesman Dmitry Peskov told TASS on Saturday. "A state leader should control his temper, nonetheless," Peskov said commenting on the latest remark from the US president. "And, of course, each time such personal insults [are uttered, they] narrow the window of opportunity for our bilateral relations under the current [US] administration. It is necessary to be aware of this," Peskov stressed. The Kremlin spokesman was surprised that Biden, who was an enthusiastic proponent of bombing Yugoslavia…

Sunday, 27 March 2022 06:40

Hungary's Orban reasserts 'neutrality' in Ukraine war

Widely seen as Russian President Vladimir Putin’s closest ally in the European Union, Hungarian Prime Minister Viktor Orban has sought to assert Hungary’s neutrality in the war in Ukraine, even as his allies in the EU and NATO assist the embattled country and punish Russia for launching the largest armed conflict in Europe since World War II. Orban, who faces a difficult election on April 3, has refused to supply Ukraine with military aid — alone among Ukraine’s EU neighbors — and has not allowed lethal weapons to be shipped to Ukraine across Hungary’s borders. Arguing that providing such assistance…

Saturday, 26 March 2022 06:24

VAT collections got boost of N530bn, hit N2.03tn in 2021 – Report

Nigeria generated a total of N2.03tn from Value Added Tax collections in 2021, data from the National Bureau of Statistics have shown. The revenue generated from VAT in 2021 represents an increase of N530bn when compared to N1.53tn generated in 2020. According to a report released by the NBS on Friday, the country earned N563.72bn from VAT in Q4, showing a growth of 12.63 per cent, quarter-on-quarter. However, on a year-on-year basis, VAT collections in Q4 2021 increased by 23.98 per cent from Q4 2020, the report added. In the first, second, and third quarters of 2021, total VAT collected…

Saturday, 26 March 2022 06:23

Buhari appoints new solicitor-general of the federation

President Muhammadu Buhari has approved the appointment of Beatrice Jedy-Agba as solicitor-general of the federation. Her appointment was contained in a statement issued on Friday by the office of the head of civil service of the federation. Prior to Beatrice’s appointment, Mohammed Umar, director of public prosecution, was acting solicitor-general following the retirement of Dayo Akpata in July 2021. Beatrice, a former executive secretary of the National Agency for the Prohibition of Trafficking in Persons and other Related Matters (NAPTIP), was also appointed as a permanent secretary alongside three other persons. The development comes weeks after 37 out of 74…

Saturday, 26 March 2022 06:19

What to know after Day 30 of Russia-Ukraine war

Russian forces appear to be shifting their focus from Ukraine’s capital to the contested Donbas region, possibly signaling a new phase of the war. The Russians seem to be prioritizing what Moscow calls the liberation of the Donbas region over a ground offensive aimed at Kyiv. Russian-backed separatists have controlled part of the Donbas region of eastern Ukraine since 2014. Meanwhile, Ukrainian officials say a strike on a theater last week in the besieged city of Mariupol killed about 300 people in the deadliest single attack since the invasion started a month ago. Separately, The Associated Press has independently documented…

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Saturday, 26 March 2022 06:18

Nigeria’s first female Vice-Chancellor Grace Alele Williams is dead

Nigeria’s first female Vice-Chancellor, Grace Alele-Williams is dead. She died on Friday at the age of 89. Alele-Williams, a professor of mathematics gained prominence after she was appointed vice-chancellor of the prestigious University of Benin in 1985. Her tenure witnessed a drastic reduction in cultism, a menace in UNIBEN at the time. Before her appointment as vice-chancellor, she made history as the first Nigerian woman to obtain a doctorate degree in Mathematics education in 1963, a rare feat in the sixties. Alele-Williams was born in Warri, Delta State, and attended Government School, Warri; Queen’s College, Lagos, and the University College…

Friday, 25 March 2022 06:04

What to know after Day 29 of Russia-Ukraine war

Ukrainian President Volodymyr Zelenskyy called on his people to keep up their resistance to Russia’s invading forces, saying “every minute determines our fate, our future, whether we will live.” During his nightly video address to his people, Zelenskyy said late Thursday that, “With every day of our defense, we are getting closer to the peace that we need so much. We are getting closer to victory.” He also thanked EU and NATO leaders for pledging more support for Ukraine earlier Thursday and called on EU leaders to fast-track Ukrainian membership in the bloc. And as Russia continued its bombardment of…

Friday, 25 March 2022 06:03

North Korea tests massive new ICBM for 'long' confrontation with US

North Korea's latest launch was a huge, new intercontinental ballistic missile (ICBM), state media reported on Friday, in a test leader Kim Jong Un said was designed to demonstrate the might of its nuclear force and deter any U.S. military moves. It was the first full ICBM test by nuclear-armed North Korea since 2017, and flight data indicated the missile flew higher and longer than any of North Korea's previous tests, before crashing into the sea west of Japan. Dubbed the Hwasong-17, the ICBM is the largest liquid-fuelled missile ever launched by any country from a road-mobile launcher, analysts said.…

Friday, 25 March 2022 06:02

Donald Trump sues Hillary Clinton, others over Russian collusion allegations

Donald Trump on Thursday sued Hillary Clinton and several other Democrats, alleging they tried to rig the 2016 U.S. presidential election by tying his campaign to Russia. “Acting in concert, the Defendants maliciously conspired to weave a false narrative that their Republican opponent, Donald J. Trump, was colluding with a hostile foreign sovereignty,” the former president alleged in a lawsuit filed in federal court in Florida. Trump, who beat Democratic nominee Clinton in the 2016 presidential election, alleges “racketeering” and a “conspiracy to commit injurious falsehood,” among other claims. Trump’s allegations in the lawsuit are undermined by a 966-page report…

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