December
Nigeria to benefit as G-20 approves extension of debt relief
Finance ministers of G-20 countries have approved an extension of debt relief for the world’s poorest nations till December 2021. David Malpass, World Bank president, made the announcement at the virtual spring meeting, on Wednesday. TheCable had earlier reported that the G-20 countries will meet this week to consider an extension of the debt freeze. The G-20, is a group of finance ministers and central bank governors from 19 of the world’s largest economies, including those of many developing nations, along with the European Union. G-20 countries had established a debt service suspension initiative (DSSI) which took effect in May 2020. Nigeria had benefited from the initiative which delivered about $5 billion in relief to more than 40 eligible countries. The suspension period which was or...
Bayelsa: We won’t retrench workforce amid dwindling revenues – official
The Bayelsa state government has assured civil servants in the state that it had no plans to downsize the workforce, amidst dwindling revenue. The government said on Thursday that although it was contending with an unwieldy wage bill, it would seek alternative sources of revenue to shore up its finances. The Commissioner for Finance, Maxwell Ebibai, gave the assurance at the transparency briefing for the months of January and February 2021, in Yenagoa, the state capital. Newsmen report that under the state’s Bayelsa Transparency Law, it had become mandatory for the government to make public its income and expenditures on a monthly basis. Ebibai, said the state government received N6.8 billion for February, 2021, as net receipts from the Federation Account, after first line deductions, as a...
Ekiti reduces stake in Wema Bank
Ekiti State, one of the shareholders of Wema Bank Plc, has reduced its stake in the bank by 666.670 million from 1.191 billion shares. Ekiti, Oyo, Ogun, and Osun States are shareholders in Wema Bank. While Oyo, Osun, and Ogun held 666.670 million or 1.73 per cent each, Ekiti held 1.191 billion or 3.09 per cent as at December 31, 2019. But in a notification to the Nigerian Stock Exchange (NSE), signed by the Company Secretary of Wema Bank Plc, Johnson Lebile, the bank said Ekiti State Government sold 666.670 million shares at 65 kobo per share on the floors of the NSE, amounting to N433.336 million. According to the bank, the transaction took place between March 3 and 4, 2021. With the transaction, Ekiti State now holds about 524.1 million shares. Neem Tree Limited remains the majority shar...
#EndSARS: Lagos governor extends panel sittings by three months
The governor of Lagos State, Babajide Sanwo-Olu, has extended the tenure of the state’s Judicial Panel on Restitution for Victims of the defunct Special Anti-Robbery Squad (SARS) Related Abuses and Other Matters for another three months. This was disclosed on Tuesday by the panel headed by retired Justice Doris Okuwobi. With the extension the panel had been granted legal backing to six till July 19 instead of the initial deadline of April 19 in its terms of reference. The Lagos Judicial Panel was inaugurated by the Lagos State Governor on October 19 to among other things receive memoranda from concerned members of the public and inquire into cases of abuse, brutality, torture and extra judicial killings by the disbanded Special Anti-Robbery Squad, SARS, in Lagos. Its terms of reference als...
NBS: Nigerian government, states’ debt profile rise to N32.92 trillion
Nigeria’s total public debt portfolio as at December 31, 2020, stood at N32.92 trillion, the National Bureau of Statistics (NBS) reveals. It made the revelation in its Nigerian Domestic and Foreign Debt report for Quarter Four, 2020, obtained from its website on Monday in Abuja. It added that the debt profile was for the States and the Federal Government. According to the bureau, Nigeria’s total public debt showed that N12.71 trillion or 38.60 per cent of the debt was external, while N20.21 trillion or 61.40 per cent of the debt was domestic. “Further disaggregation of Nigeria’s foreign debt showed that 17.93 billion dollars of the debt was multilateral, 4.06 billion dollars was bilateral from the African Development Bank (AfDB), Exim Bank of China, Japan International Cooperation Agency (...
Interpol: Fake coronavirus vaccines are being sold online
The International Criminal Police Organisation (INTERPOL) has warned against the purchase of COVID-19 vaccines online. INTERPOL noted that criminals have started producing and selling fake vaccines through online platforms. The law enforcement organisation, in a statement published on its website, said members of the public that purchase such fake vaccines are at risk of serious health hazards. “With criminal groups producing, distributing and selling fake vaccines, the risks to the public are clear: these can include buying a product which not only does not protect against COVID-19, but poses a serious health hazard if ingested or injected. Such products are not tested, regulated or safety-checked,” the statement read. “Legitimate vaccines are not for sale. They are strictly administered ...
AFCON: Aston Villa congratulate Bertrand Traore, Burkina Faso on qualification
Premier League side Aston Villa have congratulated Bertrand Traore and Burkina Faso after qualifying for the 2022 Africa Cup of Nations. Despite playing a 0-0 draw against Uganda on Wednesday evening at St. Mary’s Stadium-Kitende, Entebbe, Kamou Malo’s men booked a place in Cameroon with a game to spare. That will be the 13th time the West African country would reach the finals since their maiden appearance at Ghana 1978 – where they finished in eight position. The Villa Park giants have taken to social media to celebrate their winger and his country on their recent success. “Congratulations to Bertrand Traore and Burkina Faso, who qualified for the Africa Cup of Nations 2021 with a goalless draw against Uganda on Wednesday!” a tweet from the club read. Burkina Faso – who currently lead Gr...
NJC recommends appointment of 18 justices for Appeal Court, others
The National Judicial Council (NJC) under the Chairmanship of the Chief Justice of Nigeria, Justice Ibrahim Muhammad, has recommended to President Muhammadu Buhari, the appointment of 18 Justices into the bench of the Court of Appeal. The NJC similarly recommended to eight governors including that of Delta, Rivers, Ebonyi, Kogi, Jigawa and Nasarawa, the appointment of eight judges as Heads of Court in their affected states. The affected judicial officers according to a statement by the Director, Information, NJC, were considered for appointment by the NJC’s Interview Committee at the NJC’s 94th Meeting held on December 17 and 18, 2020. Among those recommended for appointment into the bench of the appellate court are; Justice Bature Gafai, Justice Muhammad Sirajo and Justice Waziri Abdul-Az...
Official: NASRDA to launch another satellite in June
IBTimes The National Space Research and Development Agency (NASRDA) says it is putting modalities in place to launch a Cubesat ‘Edusat-2’ within the first half of the year. The Acting Director-General of NASRDA, Dr Francis Chizea, said this at the ongoing Science and Technology Expo on Tuesday in Abuja, where the agency showcased its research works and achievements. The science expo is with the theme “Science, Technology and Innovation for Economic Recovery and Sustainability Amidst the COVID-19 Challenges” and is a platform to showcase innovation within agencies of government, private research institutions, the academia, among other participants. Chizea explained that EduSat-2 was a build-up on EduSat-1 which the agency built in collaboration with Federal University of Technology, Akure a...
Gombe to pay retirees outstanding gratuity, releases N775 million
Gombe State government is set to commence the payment of another tranche of outstanding gratuity to retired civil servants in the state. A statement by director-general, media and public affairs, to the state government, Ismaila Misili, noted that this followed the release of N775 million by Governor Muhammadu Inuwa Yahaya for the payment of the retirees’ benefits. He said sequel to the governor’s directives, the committee set up by the governor to verify and ascertain the correctness of outstanding gratuity owed state retirees has concluded arrangements to commence the payment and therefore requests retired state civil servants from January to December 2015, to come forward for verification and collection of their entitlements. “The exercise, according to the chairman of the committee and...
Why Wilfried Zaha is no longer taking the knee
Wilfried Zaha became the first Premier League player not to kneel before kick-off on Saturday since top-flight footballers started using the gesture to protest racial injustice last summer. The Crystal Palace winger instead chose to “stand tall” ahead of the match with West Brom, something he had said in February he was going to do but hadn’t started a game since then due to injury. Zaha released a statement ahead of kick-off outlining his intention to do so and his reasons for it. What he said “My decision to stand at kick-off has been public knowledge for a couple of weeks now,” the Ivorian international said. “There is no right or wrong decision, but for me personally I feel kneeling has just become a part of the pre-match routine and at the moment it doesn’t matter whether we kneel or ...
AstraZeneca: ‘No evidence’ of higher blood clots risk from coronavirus vaccine
UK-based pharmaceutical company AstraZeneca insisted on Friday its coronavirus vaccine was safe after some countries suspended its use in response to concerns about a potential link to blood clots. “An analysis of our safety data of more than 10 million records has shown no evidence of an increased risk of pulmonary embolism or deep vein thrombosis in any defined age group, gender, batch or in any particular country” from the jab, a company spokesperson said. “In fact, the observed number of these types of events are significantly lower in those vaccinated than would be expected among the general population.” The AstraZeneca jab, developed with Oxford University, forms the mainstay of Britain’s vaccination programme, and of many developing economies. It is relatively cheap and easier to st...
