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Tuesday, 31 August 2021 06:06

FG to borrow $3bn via Eurobond; announces Lagos, NY roadshows

Nigeria will launch its planned Eurobond issue on Oct. 11, finance minister said on Monday. Zainab Ahmed also said the country would hold roadshows for the dollar-denominated issuance, which aims to raise roughly $3 billion, in Lagos and New York. The government is also targeting raising the same amount via multilateral and bilateral borrowing to fund its 2021 budget deficit. “We have an approval in the 2021 budget to fund the budget deficit 50% locally and 50% externally,” Ahmed said. “We are planning to do about half of that in eurobonds and the other half through other windows such as…

Tuesday, 31 August 2021 06:05

CBN appoints technical partner for e-Naira digital currency project

Nigeria will work with Bitt Inc as a technical partner in its bid to launch its own cryptocurrency, the “eNaira”, Central Bank of Nigeria said on Monday. CBN announced plans to launch its own digital currency later this year after Nigeria barred banks and financial institutions from dealing in or facilitating transactions in cryptocurrencies in February. CBN Governor Godwin Emefiele has said the eNaira would operate as a wallet against which customers can hold existing funds in their bank account. In a statement on Monday, Emefiele said the currency would accelerate financial inclusion and enable cheaper and faster remittance inflows.…

Tuesday, 31 August 2021 06:04

CBN drafts guidelines for e-Naira operations

CBN recently sent a presentation to Nigerian banks about the eNaira project, revealing more details about its design and operational module. As seen by Nairametrics, the presentation described how the new currency would be designed and operated. In fact, the report states that the e-Naira is a legal tender for the entire country. The report also mentions that it will have non-interest-bearing CBDC status, a transaction limit for customers, and a value-based transaction limit. Participants in the e-Naira program are featured in five stages, including: Monetary Authority Suite; The Central Bank will be handing the first product component that includes…

Tuesday, 31 August 2021 05:59

3 killed as residents disobey govs’ directives to shun sit-at-home order in Southeast

Three gunmen reportedly enforcing the suspended sit-at-home of Indigenous People of Biafra (IPOB) were shot dead by military personnel at Umuonyewere, Umuowa in Ngor Okpala Local Government Area of Imo State, yesterday. A source told our correspondent that the hoodlums were using the opportunity of the order to disposes residents in the area of their valuables. But they were said to have met their Waterloo at a filling station when they reportedly robbed a fuel attendant of cash and phones as a joint military operations by men of the 34 Artillery brigade, Obinze, 211 quick response group and the Navy,…

Tuesday, 31 August 2021 05:58

Afenifere advocates use of Amotekun, Ebube Agu, others to enforce ban on open grazing in Southern Nigeria

With the September 1 target set by the Governors of the 17 states in the Southern part of Nigeria to begin on Wednesday, the federal government has been warned not to jeopardise the effective enforcement of the law. Pan-Yoruba socio-political organisation, Afenifere made the call in a statement issued by its National Publicity Secretary, Jare Ajayi. He said as the reality begins to dawn that there would no longer be room for allowing cows to roam about anyhow, the federal government might be tempted to want to use its might to frustrate the efforts of states governments in this regard.…

Tuesday, 31 August 2021 05:57

Nigerian troops overpowered as ISWAP terrorists invade Borno town

Suspected fighters of the Islamic State in West African Province (ISWAP) have attacked Rann, headquarters town of Kala Balge LGA of Borno state. Sources said the insurgents came on Monday, around 1:30am, in large numbers and started shooting sporadically. Troops of the Nigerian Army, who attempted to engage the insurgents, were said to have been overpowered and dislodged. The insurgents were also said to have taken over control of the town. Sources said most of the civilians ran into the bushes to seek safety, while some international and local humanitarian workers stationed in the town were reportedly trapped. Others were…

Tuesday, 31 August 2021 05:53

America’s ‘forever’ war ends as last troops exit Afghanistan

The United States completed its withdrawal from Afghanistan late Monday, ending America’s longest war and closing a chapter in military history likely to be remembered for colossal failures, unfulfilled promises and a frantic final exit that cost the lives of more than 180 Afghans and 13 U.S. service members, some barely older than the war. Hours ahead of President Joe Biden’s Tuesday deadline for shutting down a final airlift, and thus ending the U.S. war, Air Force transport planes carried a remaining contingent of troops from Kabul airport. Thousands of troops had spent a harrowing two weeks protecting the airlift…

Monday, 30 August 2021 05:49

Borno stakeholders agree to forgive, reintegrate 3,000 repentant Boko Haram terrorists

Community leaders in Borno State, on Sunday, agreed to the return of repentant Boko Haram terrorists into their communities. The decision was taken at a stakeholders meeting to discuss the prevailing security situation in the state. The meeting was organised by the government of Borno State. The Borno government confirmed that at least 3,000 persons who were members of the terrorist group have laid down their arms and surrendered to the Nigerian military. Governor Babagana Zulum, who presided over the meeting, disclosed that apart from the 3,000 ex-terrorists currently in the custody of the government, another 900 confirmed members of…

Sunday, 29 August 2021 06:03

Buhari is determined to recover grazing routes for cattle herders. Here’s what FG is already doing in different states

Following the directive by President Muhammadu Buhari for the reclamation of grazing routes in states across the country, senior officials in the Presidency and Federal Ministry of Agriculture and Rural Development have given a hint as to how they will go about the assignment. Buhari’s directive on the reclamation of grazing routes has met with widespread pushback, especially in the southern part of the country, where the 17 southern governors have declared their resolve on promulgating anti-open grazing laws, as a panacea for the incessant farmers/herders clashes. Federal Government said tracing and reclaiming the grazing routes was the only way…

Sunday, 29 August 2021 06:02

Highlife king, Victor Uwaifo, is dead

One of Nigeria’s music legends and highlife maestro, Victor Uwaifo, is dead. He was 80 years. One of his children, Uwaifo Peter de Rock, broke the news of the demise of the Professor of Visual Arts, University of Benin, on his Facebook page, yesterday evening. Peter who did not disclose the cause of death of his father, however, expressed anguish at the passing of the music star. “Daddy why did you leave us now? Prof Sir Victor Uwaifo has gone to rest. Black Saturday for me now”, Peter wrote with 34 sad Emojis arranged in pair of 17 lines. “One…

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Saturday, 28 August 2021 06:02

Only 26 percent of Nigerians retain positive view of Buhari, FG - Report

A survey by the Africa Polling Institute has revealed that Nigerians’ trust in the regime of retired Major General Muhammadu Buhari is 26 per cent. The survey also showed that “citizens have more trust in religious leaders (55%) and traditional leaders (44%); compared to the Buhari government (26%), the judicial system (26%), the National Assembly (22%) and the Nigeria Police (22%).” It reveals growing citizens distrust towards the state and fellow citizens; as well as a proclivity for ethnicity over nationalism. The Nigeria Social Cohesion Index report released in Abuja on Thursday, was computed as 44.2 per cent, which is…

Saturday, 28 August 2021 06:01

Those agitating for Nigeria’s breakup will fail - Obasanjo

Former President Olusegun Obasanjo on Friday did not mince words about the unity and indissolubility of Nigeria when he said the country that sprawl over 923,768 km² with over 200 million people will continue to exist no matter what happens. He spoke during the Book Launch and 85th Birthday of Sunday Mbang of the Methodist Church Nigeria which was held at the Admiralty Centre, Naval Dockyard, Victoria Island, Lagos State. Obasanjo, who was the Convener of the programme in honour of Mbang, described the former President of the Christian Association of Nigeria as a lover of Nigeria. The book, a…

Saturday, 28 August 2021 06:00

Soyinka to Benin Republic: Igboho isn’t a criminal, release him to continue trip to Germany

Playwright, Wole Soyinka has called on the government of the Republic of Benin to release Yoruba Nation agitator, Sunday Adeyemo, popularly known as Sunday Igboho, to continue his journey. Speaking with journalists in Lagos on Friday during an interactive session titled, “Sanctions on the loose: Chasing the gnat with a sledgehammer,” the elder statesman said the secessionist didn’t commit any crime against Nigeria. Men of the Department of State Services on July 1, 2021, raided the Ibadan, Oyo State, home of the activist, killed two and arrested 12 of his aides. Igboho later fled to the Republic of Benin where…

Saturday, 28 August 2021 05:59

322,000 Nigerians are refugees in Niger, Chad, Cameroon - FG

Federal Government has said 322,000 Nigerian refugees reside in the Republic of Niger, Cameroon and the Republic of Chad. This was disclosed by Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Farouq when the Technical Working Group on the repatriation of Nigerian Refugees in Cameroon presented a draft tripartite agreement for the voluntary repatriation of Nigerian refugees in Niger Republic and Chad. The draft, after its ratification, is expected to kickstart preparations for the repatriation of refugees from Niger and Chad. The Minister, in a statement by her media aide, Nneka Anibeze, said: “Out of the 322,000, Niger…

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