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Lagos shuts airport bridge indefinitely
The Lagos State Government on Sunday announced the closure of the Airport Bridge at Toyota on Oshodi/Isolo Expressway indefinitely. This follows the inferno that recently occurred on the Apapa Oshodi Expressway as a result of a PMS loaded tanker exploding in a fireball from collision with another truck, with the structure of the Airport Bridge at Toyota on Oshodi/Isolo Expressway has been affected. “The bridge therefore has to be temporarily closed to vehicular traffic movement to enable the State Government conduct structural engineering tests on the bridge,” said Commissioner for Transportation, Dr Frederic Oladeinde. He announced alternative routes for use by motorists pending the outcome of the tests and the reopening of the bridge to traffic. “Motorists from Mile 2 to Cele on Apapa-Os...
Coronavirus: Nigeria now at tipping point – PTF
The Federal Government, yesterday, took stock of its response to the COVID-19 pandemic vis-a-vis the attitude of Nigerians to embracing safety precautions, and concluded that the country was now at a tipping point. This came as government announced its decision to establish oxygen plants in all states of the federation as part of measures to resolve the “oxygen crisis” that had engulfed some of the isolation and treatment centres in the country. Meanwhile, Edo State has recorded 28 new cases of coronavirus, bringing the total number of confirmed cases in the state to 270, as the state government cautions residents to abide by the precautionary health and safety guidelines. Vanguard, meanwhile, gathered that former vice-chancellor of the University of Lagos, Prof. Oyewusi Ibidapo-Obe and th...
Mechanic in court allegedly ‘causing’ death of 4-year old girl
A 27-year-old mechanic, Friday Ogbu, who allegedly drove recklessly, causing the death of a four-year-old girl, on Thursday appeared in Chief Magistrates’ Court in Gwagwalada, FCT. The police charged Ogbu is charged with dangerous driving and manslaughter. The Prosecution Counsel, Mayowa Adefioye, told the court that the defendant drove his Toyota Camry with registration Number BWA779HK on the Tunga-maji Anagada expressway and knocked down three pedestrians on Dec. 25. He said that as a result of the accident, three children sustained different degrees of injuries and on arrival at Lucas Hospital Madalla, one of them was confirmed dead by the medical doctor on duty. He said the offence contravened the provisions of Section 27 of the Road Traffic Act. The defendant, however, pleaded not gui...
US Democrat Senate wins push stocks higher despite Capitol chaos
Clean sweep by Democrats allows them to enact big-spending policies likely to benefit the economy, investors say. Global stock markets rose and bonds nursed losses on Thursday in anticipation of a big-borrowing and big-spending Democratic administration driving growth, following runoff elections that gave the party control of both houses of the United States Congress. On Wednesday, US Treasury bonds had suffered their steepest selloff in months after Democratic Party victories in two races in the state of Georgia handed them narrow control of the Senate and the power to pass their agenda. US S&P 500 futures rose 0.6 percent and Nasdaq 100 futures rose 0.9 percent as markets seemed to shake off a late fade that pulled Wall Street indexes back from fresh record peaks when chaotic protest...
Donald Trump allies in Congress to challenge his loss to Joe Biden
A band of President Donald Trump’s Republican allies planned a last-ditch effort on Wednesday to undo his election loss to Democrat Joe Biden, a bid almost certain to fail that comes on the same day their party is poised to lose its majority in the Senate. The Republican-led Senate and Democratic-controlled House of Representatives were due to meet to formally certify Biden’s victory in the Nov. 3 election in proceedings that could stretch past midnight. In a joint session of Congress, Trump’s allies plan to challenge the results from a handful of states won by Biden. Thousands of pro-Trump protesters converged on Washington ahead of the session at his urging. Some clashed with police overnight. Biden won the election by a 306-232 count in the state-by-state Electoral College and by a marg...
Police foil armed robbery attack in Nasarawa
The Nasarawa State Police Command has foiled an armed robbery attack at Gidan Gambo community along Lafia-Shandam road with the attempt to rob unsuspecting commuters at about 10:45 on Sunday night, January the 3rd. A statement signed by the Nasarawa State Police Public Relations Officer, ASP Ramhan Nansel, and issued to reporters in Lafia, said that the Command had received a distress call that hoodlums suspected to be armed robbers had blocked the road at Gidan Gambo along Lafia-Shandam road with the intent to rob unsuspecting commuters. ‘Upon the receipt of the information, the Commissioner of Police mobilised police personnel attached to Assakio Police Station and a team of Safer Highway personnel to the area where a gun duel ensued. Consequently, the hoodlums were dislodged and one yet...
Chelsea boss admits to facing ‘reality check’ after Manchester City drubbing
Chelsea manager Frank Lampard acknowledged that he was given a sharp jolt of reality as the Blues capitulated at home to Manchester City on Sunday. Lampard’s charges have been in torrid form since the start of December, following up a run of nine unbeaten Premier League games with four defeats in their last six outings. The latest, a 3-1 reverse at Stamford Bridge at the hands of City, was concerning not just for the result but also the subdued display offered by the hosts. Chelsea mustered just two shots on target to give debutant goalkeeper Zack Steffen a quiet afternoon between the posts, and only troubled the scorers late into injury time through Callum Hudson-Odoi when the game was already out of reach. And with the Blues having slipped down to eighth as a result of their recent woes,...
Nigerian government borrows over N2 trillion from bond investors in 2020
Leveraging on excess liquidity that persisted in the banking system and the near zero yields on treasury bills (TBs), the Federal Government, through the Debt Management Office (DMO), raised N2.1 trillion from investors in its monthly bond issuance programme in 2020. This represents 33 percent, year-on-year, (y/y) increase when compared with the N1.58 trillion raised by the DMO in 2019. The N2.1 trillion raised in 2020 also represents 31 percent more than the N1.6 trillion funding target for the DMO under the Revised 2020 Budget. Meanwhile, the monthly bond auctions conducted by the DMO in 2020 recorded 275 percent oversubscription, reflecting scramble for the high yielding FGN bonds by investors. Newsmen report on monthly bond auction results show that the DMO offered N1.825 trillion wort...
CBN: Naira to fall further in January
Barely five days to the end of the year 2020, the Central Bank of Nigeria has disclosed that a survey carried out by its Statistics Department revealed that the naira is expected to depreciate further in January 2021. The report, titled, ‘December 2020 Business Expectations Survey Report’ added that there might also be a steady rise in interest rate from December till the next six months. The naira witnessed a sharp fall in recent weeks, reaching its lowest on November 30, 2020, when it exchanged for N500/$1. Since then, the dollar has been hovering between N460 and N470. As of Friday, however, one dollar exchanged for 465 in the parallel market. Also, the Nigerian economy had on November 21 slid into its second recession in five years when the economy shrank again in the third quarter. Th...
Andy Murray receives Australian Open wild card
Former world number one Andy Murray has been handed a wild card for February’s delayed Australian Open, pushed back three weeks as a result of the coronavirus pandemic. Murray, 33, is a five-time runner-up in Melbourne but feared his last match at the tournament in 2019 would mark the end of his career due to chronic hip pain. The injury pushed him to the brink of retirement but the three-time Grand Slam champion is battling to extend his career having undergone two hip surgeries. The Scot’s ranking of 122 is too low to qualify directly for the Australian Open main draw, which starts on February 8, and he has also accepted a wild card to the Delray Beach event early next month. Murray played just seven tour-level matches this year as he returned to action in August following a lingering pe...
NPFL: Kwara United shock Plateau United on opening day
Kwara United recorded the first away win of the new NPFL season courtesy of a 2-0 win at Plateau United, while Nasarawa United, MFM FC and Jigawa United won at home. Kano Pillars were held to a 1-1 draw by hosts Adamawa United. The biggest result on the first day of action was in Jos, where home team Plateau United, who were top of the table before the league was called off because of the Coronavirus Pandemic, fell to two second half goals by Kwara United. Jide Fatokun opened scoring after 62 minutes, before Michael Ohanu doubled the visitors’ lead seven minutes later. In Lagos, MFM FC got off to a winning start thanks to Ebenezer Odeyemi and Muyiwa Balogun, before John Paul Chinedu pulled a goal back for Warri Wolves. Onukwube Stone was the match winner for Jigawa Golden Stars in Kaduna a...
Nigerian National Assembly spends billions of naira on constitution review
The perennial constitution amendment exercise by the National Assembly is characterised by proposals that keep resurfacing despite gulping billions of naira yearly, an analysis has shown. The federal parliament had from the 5th to the current 9th National Assembly made several attempts to amend some provisions of the 1999 Constitution to no avail. At every session, the parliament officially spends N1 billion shared equally between the Senate and the House of Representatives. There are reports that the lawmakers spend more than what is appropriated for the exercise. While some amendments were successful, several others suffered serial failures but kept appearing in new proposals. Considering the huge spending, lawyers and civil society groups have pointed out that no significant amendments ...