The Federal Executive Council (FEC) has approved a new Medium-Term Debt Management Strategy for Nigeria (MTDS) for the period 2020-2023. With the approval, announced during Wednesday’s virtual FEC meeting, the DMO which is saddled with managing the nation’s debt matters, has promised full implementation to support economic development while ensuring that public debt is sustainable. The MTDS is a policy document which provides a guide to the borrowing activities of the government in the medium-term, usually four years. It is recognised as one of the best practices in public debt management and is recommended by the World Bank and International Monetary Fund (IMF) to ensure that public debt management is driven by a well-articulated strategy that is structured to meet a country’s broader mac...
President Muhammadu Buhari has travelled to Daura, Katsina State, his home town, to participate in the national membership registration and revalidation exercise of the All Progressives Congress (APC). The president left Abuja after performing the weekly Juma’at prayer at the Aso Rock Mosque, newsmen report. Before his departure, the president met with governor Simon Lalong of Plateau, who later informed State House correspondents that he was in villa to brief President Buhari on issues pertaining security, New Nigeria Newspapers and the Jos Main Market. While in Daura, Mr. Buhari would on Saturday at Sarkin Yara Ward, Daura, participate in the APC’s nationwide membership registration and revalidation exercise at about 12.00 noon. Prof. Ussifu Medaner, APC Director of Organisation had on T...
President Donald Trump on Monday declared a state of emergency in Washington, D.C., citing the “emergency conditions” surrounding President-elect Joe Biden’s inauguration. D.C. Mayor Muriel Bowser had declared a state of emergency in the city on Wednesday in the aftermath of the takeover of the Capitol by rioters incited by Trump. Reports of further planned violent demonstrations have continued to circulate ahead of Inauguration Day, and Trump’s order on Monday allows the Department of Homeland Security and the Federal Emergency Management Agency to assist the city in any emergency response. Details of the violent Capitol attack have become increasingly clear in the days since a mob broke into the building, and Democrats and Republicans alike expressed concern about a similar security brea...
The Naira yesterday weakened to the lowest in over three years in the parallel market due to increased demand for dollars amid foreign-currency shortages. The local currency depreciated to N495 to a dollar yesterday, lowest since February 23, 2017, widening the gap with the official rate of N379.5 to over 30 per cent. The currency traded in the interbank market at 389.74 as of 4:54p.m. in Lagos. Agency reports quoted traders as alleging a groundswell of diversion of dollars, a development which heightened scarcity of the green back in the parallel market this week. There is a diversion of inflows away from official channels to the parallel market due to the gap in rates, Murega Mungai, trading desk manager for Aza Finance said in a note Thursday. The market spread has created arbitrage opp...
Getty Images Unified Heavyweight Champion of the World Anthony Joshua OBE will defend his IBF, WBA, WBO and IBO World Titles against Mandatory Challenger Kubrat Pulev at The O2 in London on Saturday December 12, live on Sky Sports Box Office in the UK and on DAZN in all of its nine markets including the U.S., on a show promoted by Matchroom Boxing in association with Top Rank and Epic Sports and Entertainment. Joshua (23-1, 21 KOs) recaptured his belts and position as the Unified Heavyweight World Champion with a masterful unanimous decision victory over Andy Ruiz Jr at the Diriyah Arena in Saudi Arabia on an historical night in December that saw the Heavyweight World Titles contested for the very first time in the Middle East. December 12 will be ‘AJ’s’ first fight on UK soil in over two ...
The U.S Secretary of State, Mike Pompeo, perhaps, shocked Americans and the world on Tuesday, when he predicted that President Donald Trump “would win a second term in office” despite the victory of his opponent, Joe Biden, at the recently held presidential polls. The New York Post reported that Mr Pompeo, during a briefing at the State Department’s headquarters, Pompeo was asked by a reporter whether government officials were “preparing to engage” with Mr Biden’s transition team. “There will be a smooth transition to a second Trump administration,” Mr Pompeo said with a smile. “The world should have every confidence that the transition necessary to make sure that the State Department is functional today, successful today and successful with the president who’s in office on Jan. 20 a minut...
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