Budget
Canada to examine crypto, stablecoins, and CBDCs in new budget
The Canadian federal government is set to launch a consultation on cryptocurrencies, stablecoins, and Central Bank Digital Currencies (CBDCs) as revealed in its new mini-budget. The government’s “2022 Fall Economic Statement” released on Nov. 3 by Deputy Prime Minister Chrystia Freeland works as a fiscal update in conjunction with its main yearly budget. The statement included a small section on “Addressing the Digitalization of Money” that outlined the government’s crypto plans. It said the rise in cryptocurrencies and money digitalization is “transforming financial systems in Canada and around the world” and the country’s financial system regulation “needs to keep pace.” The statement opined that money digitalization “poses a challenge to democratic institutions around the world” h...
The countries that won’t let you in without travel insurance
As entry rules continue to evolve at pace, we take a look at the countries that require travel insurance as standard Travel has had a turbulent few years to say the least. Following the stasis of the pandemic, this summer has seen a sharp rise in passenger numbers thanks to easing restrictions and increased traveller confidence. The surge caught the industry by surprise. Transport hubs around the world have struggled under the pressure with long airport queues, lengthy delays, staff strikes, lost luggage and cancelled flights. Britain’s busiest airport even asked airlines to stop selling summer flights to cap passenger numbers. While nearly all countries have relaxed entry restrictions put in place during the pandemic, some have retained certain criteria. One such condition is the requirem...
10 tips for buying annual travel insurance
A comprehensive guide to buying annual travel insurance including what to look out for, the pitfalls to avoid and the questions to ask Back in 2014, British adrenaline junkie Ben Cornick jumped out of a plane in Fiji at 12,000 feet. There was no way to know at the moment he leapt out of the aircraft that his parachute wouldn’t work properly and that he would plummet to Earth, breaking his leg in three places and shattering his elbow. It gets worse: Ben hadn’t bought travel insurance and had to pay £20,000 upfront for treatment to save his leg. His parents pulled together their life savings and readied to sell their house. ViktorKozlov/Shutterstock Skydiving is risky But then there was an unlikely twist: following media coverage of Ben’s predicament, complete strangers donated money to pay ...
Lagos assembly begins audit of 57 councils
The Lagos House of Assembly has commenced an audit exercise for all the 20 Local Government Areas (LGAs) and the 37 Local Council Development Areas (LCDAs) in the state. The Chairman, House Committee on Public Account (Local), Mojeed Fatai, made this known in a statement issued in Lagos on Saturday. Fatai said that the committee was expected to submit its report to the House after the weeklong exercise. The lawmaker explained that the exercise was aimed at checking probity and accountability in the local government administration as provided in the 1999 (Amended) Constitution. He said: “The essence of the exercise is to allow the committee go through the 2019 report of the Auditor General without fear or favour to any local council indicted by the officials of the Auditor General. “Also, t...
Minister: Why Nigerian government insists on removing petrol subsidy
The Minister of State for Budget and National Planning, Clem Agba, on Tuesday, reiterated the need to deregulate the downstream petroleum through the removal of subsidy on Premium Motor Spirit. According to him, only the wealthy were currently benefiting from the subsidy. The minister spoke during the leadership and governors’ discourse on open government partnership held in Abuja, on Tuesday. He said, “Some will say if you take out fuel subsidies the ordinary man will suffer, how will the ordinary man suffer? Is it in terms of food? Vehicles that are used for moving food are heavy-duty vehicles. And they don’t use PMS, they use diesel and that has since been deregulated. Those that we are actually subsidising are the very rich. “Those who drive the Rolls Royce, the Lamborghinis and other ...
#EndSARS: VP Osinbajo urges States to send judicial panels’ progress reports
As plans for next year’s budget begins to gather pace, the National Economic Council (NEC) has endorsed the 2022-2024 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) which was presented to it at an emergency meeting of the Council today. Besides the MTEF presentation, the NEC also updated its focus on the reports of the State Judicial Panels set up across the country after last year’s #EndSARS protests. Vice President Yemi Osinbajo, SAN, urged States where the panels are still sitting to also send interim reports so as to measure progress. According to the Vice President, in a statement by his media aide Laolu Akande, the reports are now being received ahead of a Council meeting where presentations would be made on them, both for States where the panels have conclude...
Ethiopia urges Tigray rebels to join ceasefire, hostilities persist
Ethiopia’s government urged Tigrayan rebels to join a unilateral ceasefire in their conflict on Thursday as aid agencies struggled to reach hundreds of thousands of people facing famine. The Tigray People’s Liberation Front (TPLF), the former rulers of Ethiopia’s Tigray region, said on Monday it was back in control of the regional capital Mekelle after nearly eight months of fighting. The government declared a unilateral ceasefire but the TPLF dismissed it as a joke. Hostilities persisted on Thursday and pressure built internationally for all sides to pull back. “Operations are under way … and the number of prisoners of war is increasing by the minute,” TPLF spokesman Getachew Reda told Reuters by satellite phone, with light artillery fire crackling in the background. “We are closing in on...
Gombe governor commends federal government’s agenda of creating 25 million jobs by 2025
Gov. Inuwa Yahaya of Gombe State has commended the Federal Government’s agenda of generating 25 million jobs by the year 2025. He stated this in Gombe, on Monday, while launching a two-day technical meeting on the preparation of the Medium National Development Plan (MTND) for 2021 -2025, for the six states in the North East Zone. The Governor, who was represented by his Deputy, Manasseh Jatau, said: “It is worth noting that the Medium-Term National Development Plan aims to create 25 million jobs, lift 34 million people out of poverty. “I will like to also appreciate Federal Government for taking a new approach towards achieving a more inclusive and effective participation of states and Local governments at different stages. “Involving everyone in the ongoing process of developing and imple...
Kwara to establish multi-billion naira cancer treatment centre
Kwara State Government has announced plans to establish a multi-billion naira Cancer treatment Centre to be situated at the Ilorin General Hospital. This is contained in a statement signed by Alhaji Bashir Adigun, the Special Adviser, Political Communication to Kwara Governor, AbdulRahman AbdulRazaq. According to him, the N2.5 billion recently donated to the state by the Abdul Samad Rabiu Initiative (ASR Africa) will form a huge chunk of funding for the modern facility. The governor said the centre along with the 12-bed intensive care unit, the modern dental and eye care facilities recently added to the general hospital was part of the huge investments. He said that these facilities would convert the General Hospital to a research facility (teaching hospital) for the take-off of the medica...
SSANU threatens strike over Nigerian government’s directives on workers of staff schools
The Senior Staff Association of Nigeria Universities (SSANU) has advised the Federal Government to withdraw the circular directing that workers of the Staff schools should not be captured in the 2022 budget. The President of SSANU, Mohammed Haruna, gave the advice while speaking with newsmen on Sunday in Abuja. He threatened that the union would embark on industrial action if government refused to heed the union’s request. Haruna was reacting to the alleged circular from the Budget Office directing that teachers in Staff Schools should be removed from the Consolidated Salary Scale, CONTISS, in the 2022 budget. He said that the reopening of the matter that had been decided by the National Industrial Court would affect the industrial harmony being enjoyed in the universities as there a subsi...
VP Osinbajo: How grassroots planning helped our social investment programmes
One factor responsible for the impactful implementation of the Social Investment Programmes of the Buhari administration over the years is the realization that you can’t reach Nigerians if you don’t have a plan for the grassroots, according to Vice President Yemi Osinbajo, SAN. This realization then influenced the structure designed for the SIP and is largely responsible for the successes of the programme (which is now regarded as one of the biggest social welfare schemes in the continent). Prof. Osinbajo stated this Sunday in Lagos at the inauguration of the Dash Me Store, an outfit of the Dash Me Foundation founded by the immediate past Finance Minister, Mrs Kemi Adeosun. The store is established to mobilize resources for onward distribution to vulnerable people in the society via grassr...
PSG steals Georginio Wijnaldum from Barca’s grips with better offer
Liverpool’s Dutch midfielder, Georginio Wijnaldum, who had been a long-time target to firm up the Catalan midfield for Barcelona, made a sudden volte face by deciding for former French Ligue champions Paris Saint-Germain instead. Just when the details of his move from former English Premier League champions Liverpool were almost fully sorted with arrangements on course for Wijnaldum’s medicals at Camp Nou, PSG jumped ahead to challenge for the midfielder’s interest with a juicier offer which appears to have worked in their favour. The Ligue 1 side has now won the race to sign 30-year-old central midfielder on a free transfer from Liverpool. PSG found their way around advanced talks between Wijnaldum and Barca by showing the defender their determination to attract him to Paris by improving ...
