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General News

Nigeria has Africa’s highest TB, paediatric HIV – WHO

Lagos, Dec. 9, 202- Nigeria bears the highest burdens of tuberculosis and paediatric HIV, which accounts for 50 per cent of neglected tropical diseases in Africa, the World Health Organisation, has said. The WHO said although the prevalence of malaria has declined from 42 per cent to 23 per cent of which Nigeria contributes 27 per cent of global cases and 24 per cent of global deaths. The WHO Country Representative, Dr. Walter Mulombo, said these known on Thursday at the 6th Annual Conference of the Association of Nigerian Health …

Entertainment Lifestyle

I sacrificed everything for Meghan Markle – Harry

Prince Harry has said he “sacrificed everything” to be a part of his wife, Meghan Markle’s world. The prince said this in his newly released explosive Netflix docuseries ‘Harry and Meghan’ aired on Thursday. Harry said Meghan gave up her freedom and everything she ever knew to join him in his world of royalty, adding that when the time came he did the same to join her in her world. The prince said, “She (Meghan) sacrificed everything she ever knew, the freedom that she had, to join me in my …

Money market

Stakeholders canvass for support of NDIC Act Amendment Bill

Lagos, Dec. 8, 2022 – Stakeholders in the financial services industry are calling for the support of the Nigeria Deposit Insurance Corporation (NDIC) Act 2006 Amendment Bill to strengthen the capacity of the corporation. They said that that the amendment of the NDIC Act 2006 would enable the corporation to contribute more effectively and efficiently to the stability of the financial system. A statement by the NDIC today said the stakeholders expressed their support during a public hearing organised by the Senate Committee on Banking, Insurance and Other Financial Institutions. …

Politics

House of Representatives summons Emefiele over new policy on cash withdrawal

Abuja, Dec. 8, 2022 – The House of Representatives has summoned the CBN Governor, Godwin Emefiele, to appear before the House on Thursday to explain the new policy cash withdrawals. The new policy introduced by the CBN early in the week which, has among others, set limits to cash withdrawals for individuals to N100, 000 per week and N500, 000 for corporate entities. Some members of the House criticised the new policy at today’s plenary, saying the policy would have serious consequences and adverse effects on businesses and Nigerians. The …

Oil and Gas

Oil rebounds on ant-COVID measures

London, Dec. 8, 2022 (Reuters/GBN)) – Oil rebounded on Thursday after four sessions of decline, boosted by hopes that easing anti-COVID measures in China will revive demand and by signs that some tankers carrying Russian oil have been delayed after a G7 price cap came into effect. China on Wednesday anounced the most sweeping changes to its resolute anti-COVID regime since the pandemic began, while at least 20 oil tankers faced delays in crossing to the Mediterranean from Russia’s Black Sea ports. Brent crude rose 27 cents, or 0.4%, to $77.44 a …

General News Money market

Finance minister berates rating agencies, urges them to be reasonable

Abuja, Dec.8, 2022 – The Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, has condemned the recent downgrades of Nigeria by some credit rating agencies. She said that those downgrades were based on factors beyond the country’s control and could affect the country’s ability to borrow from the international market. The finance minister said this during a meeting with the United Nations Deputy Secretary General and Chair, United Nations Sustainable Development Group, Amina Mohammed, in Abuja. “We are coping with a lot and we are doing the best …

Uncategorized

Senate to seek clarification from CBN on new cash withdrawal policy

Abuja, Dec. 8, 2022 – The Senate is to seek clarifications from the Central Bank of Nigeria (CBN) on its new policy on limited cash withdrawals announced earlier this week. The new policy prescribes maximum cash withdrawal limits by individuals and corporate organisations at N100,000 and N500,000, respectively, per week. Some senators, who spoke at Wednesday’s plenary, agreed that the new policy would adversely affect many Nigerians The Senate Minority Leader, Phillip Aduda, (PDP, FCT), called the attention of his colleagues to the new policy while seconding a motion that …

Money market

Promoters of banks, financial institutions, to disclose sources of funds – CBN

Abuja, Dec. 8, 2022 – The Central Bank of Nigeria (CBN) says promoters of banks and other financial institutions will now be required to disclose sources of their funds when applying for license. The CBN, had in a circular issued by the Director, Financial Policy and Regulation Department, Chibuzo Efobi, said the new guideline was in compliance with AML/CFT/CPF laws and regulations. “The directive has formed part of the minimum requirements for licensing new financial institutions. “The guideline is part of the Guidelines for ‘Licensing Banks and Other Financial institutions in …

General News Oil and Gas

Queues at petrol stations will soon disappear – official

Lagos, Dec. 7, 2022 – The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says the queues at filling stations will soon disappear as marketers commence massive loading of petroleum products. Its Chief Executive, gave the assurance during a stock monitoring exercise within depots in Lagos on Wednesday. The NMDPRA boss led staff of the Authority to NIPCO, Total, Aiteo, OVH, Conoil, 11 Plc and HOGL depots in Apapa for on the spot assessment. Farouk said the stock taking exercise was to ensure availability and effective distribution of petroleum products …

General News

Adeleke denies withdrawing N5bn from Osun account

The Osun State Governor, Ademola Adeleke, has denied withdrawing N5 billion from the state’s account and awarding contract for the reconstruction of the road leading to the Adeleke University in Ede. His spokesperson, Olawale Rasheed, said this on Wednesday in Osogbo, stressing that the allegation being peddled on the social media was a lie from demented minds. “The public will recall that Adeleke had, during his inauguration, announced the freezing of all the state and local governments’ accounts. “That was done right at the venue of inauguration before he had …


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