News

Saturday, 16 October 2021 06:07

FG borrowed $4bn through Eurobond last month. DMO says additional $2.1bn will be raised via same channel

Federal government is considering another eurobond issuance in the international capital market (ICM) to raise $2.1 billion. This is part of the federal government’s borrowing plans to part-finance the 2021 budget deficit. According to The Punch, Patience Oniha, director-general of Debt Management Office (DMO), disclosed this during an interview in London on Thursday. In September, Nigeria raised $4 billion through eurobond issuance. Oniha said the government needs to assess the market before deciding to borrow more through eurobonds. She explained that international investors had shown interest in engaging the government after a global investors meeting and roadshow as they were…

Saturday, 16 October 2021 06:06

Nigeria’s debt-to-GDP ratio to hit 42 percent in 5 years – IMF

International Monetary Fund has projected that Nigeria’s government gross debt to Gross Domestic Product ratio will rise to 42 per cent by 2026 from 35.7 per cent in 2021. IMF said this in the October 2021 Fiscal Monitor Report published on its website. It said the country’s gross debt-to-GDP ratio would increase from 35.7 per cent in 2021 to 36.9 per cent in 2022, 37.7 per cent in 2023, 39.1 per cent in 2024 and 40.6 per cent in 2025. According to the report, the gross debt includes overdrafts from Central Bank of Nigeria and liabilities of the Asset Management…

Saturday, 16 October 2021 06:05

FG’ll pay foreign debts before anything else – CBN

Governor of Central Bank of Nigeria, Godwin Emefiele, has said the Federal Government will ensure payment of foreign debts before settling other obligations. Emefiele said this while answering questions during a press briefing at the ongoing International Monetary Fund/World Bank Annual Meetings in Washington DC. He said, “We have ensured that any of our debts due is given utmost priority, particularly foreign debt. “It is like first line charge, and the minister talks to me about it. And we ensure that wherever we are going to find the dollar, we would pay any of our debts, even before we service…

Saturday, 16 October 2021 06:03

#EndSARS: NEC directs state to pay compensation to victims, prosecute police offenders

National Economic Council (NEC) says officers indicted by the judicial panels set up to probe police brutality will face prosecution. The federal government had directed states to set up judicial panels of inquiry into allegations of human rights violations involving police officers, following the #EndSARS protests in October 2020. NEC, which is chaired by Vice-President Yemi Osinbajo, is made up of all the governors and representatives of the federal government. According to a statement issued by Laolu Akande, spokesperson to the vice-president, at a meeting held on Friday, NEC also said the federal government and states will set up modalities…

Saturday, 16 October 2021 06:00

FG declares Tuesday public holiday for Eid-ul-Mawlid

Federal government has declared Tuesday, October 19 a public holiday to mark this year’s Eid-ul-Mawlid celebration in commemoration of the birth of the Prophet Muhammad. ermanent secretary, Ministry of Interior, Shuaib Belgore, disclosed this in a statement on Friday. The statement said Minister of Interior, Rauf Aregbesola, congratulated all Muslims at home and in the Diaspora for witnessing this year’s occasion. According to the statement, Aregbesola admonished all Nigerians to imbibe the spirit of love, patience and perseverance which are the virtues of the Prophet Muhammad, adding that doing so would guarantee peace and security in the country. “Aregbesola enjoined…

Saturday, 16 October 2021 05:58

FG releases revised Covid-19 protocol for inbound international travelers

Federal Government has released the revised travel protocol into Nigeria effective Monday, 25th October, 2021. According to a statement by Chairman of Presidential Steering Committee/Secretary to the Government of the Federation, Boss Mustapha, travellers ariving in Nigeria must present a negative Covid-19 PCR test result conducted not more than 72 hours before boarding. Unvaccinated and partially vaccinated in-bound passengers will be required to observe a mandatory 7-day self-isolation in addition to a Covid-19 PCR test on days 2 and 7 after arrival, and fully vaccinated in-bound passengers will not be required to observe the mandatory 7-days self-isolation but will be…

Saturday, 16 October 2021 05:57

US will accept mixed doses of vaccines from international travelers

The U.S. Centers for Disease Control and Prevention (CDC) said late on Friday that it will accept mixed-dose coronavirus vaccines from international travelers, a boost to travelers from Canada and other places. The CDC said last week that it would accept any vaccine authorized for use by U.S. regulators or the World Health Organization. "While CDC has not recommended mixing types of vaccine in a primary series, we recognize that this is increasingly common in other countries so should be accepted for the interpretation of vaccine records," a CDC spokeswoman said. The White House said Friday the new vaccine requirements…

Friday, 15 October 2021 05:34

Two months after donating 4m doses of Moderna, U.S. adds 3.6m doses of Pfizer Covid-19 vaccines to Nigeria

The United States has donated 3.6 million doses of the Pfizer Inc/BioNTech (PFE.N), (22UAy.DE) Covid-19 vaccine to Nigeria, two months after it shipped Moderna Inc (MRNA.O) vaccines to Africa's most-populous nation, a local television station reported on Thursday. Faisal Shuaib, who heads Nigeria's National Primary Health Care Development Agency, said on Oct. 5 the country had confirmation that it would receive 3.57 million doses of Pfizer vaccines within the next two weeks. The shipment arrived on Thursday at the airport in the capital, Abuja, AIT Television reported. Nigerian and U.S. health authorities could not immediately be reached for comment. In…

Friday, 15 October 2021 05:31

FG promises to mandate TV stations to include sign language interpreters in news broadcast

Federal government says all television stations across the country will be directed to adopt the use of sign language interpreters. Lai Mohammed, minister of information and culture, disclosed this on Thursday at the 2021 annual lecture organised by Federal Radio Corporation of Nigeria (FRCN) in partnership with the Albino Foundation and the European Union (EU). According to NAN, Lai was responding to a complaint by Monsurat Abdulwasiu, a former leader of the women’s wing of the association of the deaf. Speaking through an interpreter, Abdulwasiu said persons with disabilities have suffered exclusion as they only look at images during news…

Friday, 15 October 2021 05:30

After one year of bickering, UI gets substantive VC

Incumbent deputy vice-chancellor in charge of administration at the University of Ibadan, Kayode Adebowale, has emerged the 13th substantive vice-chancellor of the institution. He defeated incumbent acting vice-chancellor, Adebola Ekanola, and 14 others in a keenly contested process that took almost one year to resolve. Chairman of the university’s governing council and former chairman of the ruling All Progressives Congress (APC), Odigie Oyegun, made the announcement Thursday night. Announcing the new vice-chancellor, Oyegun said Adebowale emerged the best after a thorough process which he noted was witnessed by representatives of Federal Character Commission and Federal Ministry of Education. A statement…

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Thursday, 14 October 2021 05:43

FG orders civil servants to show Covid-19 vaccination or negative test to access offices

Federal government will require civil servants to show proof of vaccination against Covid-19 or a negative test for the disease to gain access to their offices from the beginning of December, a presidential committee said on Wednesday. The presidential committee said unvaccinated government workers will need to present a negative test result done within 72-hours before they are granted access to their offices across the country and its embassies abroad. "An appropriate service wide advisory/circular will be issued to guide the process," Boss Mustapha, chairman of the presidential steering committee on Covid-19, said in a statement. Nigeria has administered some…

Thursday, 14 October 2021 05:41

Sunday Igboho falls sick in Beninese prison, rushed to hospital

Yomi Aliyu, one of the lawyers representing Sunday Adeyemo, the separatist activist known as Sunday Igboho, says his client is sick. Aliyu said Igboho, who is presently in a detention facility in Benin Republic, was rushed to the hospital after he took ill. He said it is likely that the Yoruba Nation agitator is “battling kidney and lungs problem”. Speaking with BCC Yoruba, Aliyu said Igboho was injured while trying to escape during the invasion of his house. He said Igboho is seriously sick and needs to be flown abroad for treatment. He said: “Igboho was rushed to a hospital.…

Thursday, 14 October 2021 05:40

US, EU, Israel talk tough on Iran, consider options

U.S., Israeli and EU officials took a tough line toward Iran on Wednesday, with U.S. officials saying they would consider all options if Tehran failed to revive the 2015 nuclear deal and Israel saying it reserved the right to act. Iranian President Ebrahim Raisi has so far refused to resume indirect talks with the United States in Vienna on both sides returning to compliance with the deal, under which Iran curbed its nuclear program in return for economic sanctions relief. "We will look at every option to deal with the challenge posed by Iran," U.S. Secretary of State Antony Blinken…

Wednesday, 13 October 2021 05:38

Buhari appoints new CEO for Nigeria Export Promotion Council

President Muhammadu Buhari has approved the appointment of Ezra Yakusak as Executive Director/Chief Executive Officer of Nigeria Export Promotion Council (NEPC) The appointment is for an initial term of four years in accordance with the provision of Section 7 (1) of the NEPC (Establishment) Act, 1987. The appointment is with effect from 27th November, 2021. Until his appointment, Yakusak, who holds a PhD in commercial law from Ahmadu Bello University, was the Director, Policy and Strategy, NEPC. He has also served as Secretary to the Governing Board of the Council. Garba Shehu Senior Special Assistant to the President (Media &…

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