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Daily Archives: March 12, 2018

Tight security as Buhari arrives Benue

President Muhammadu Buhari arrived Benue State at about 11am this morning amidst tight security. President Buhari, who had initially stayed silent to the call for his visit to Benue State following the mass slaughter of Benue State indigenes by marauding Fulani herdsmen, opted to schedule what appears a campaign stop to Benue. His visit came months after the slaughter. He ... Read More »

US Secretary of State, Tillerson, suspends trip to Nigeria

The United States, U.S. Secretary of State, Mr. Rex Tillerson, has cut short his first trip to Africa to return to Washington about one day ahead of schedule, according to a Reuters’ report from Nairobi, Kenya. “Tillerson’s travel plans have changed so that he can return to Washington early on Tuesday morning instead of late that night, a spokesman for ... Read More »

U.K. prepping action against Russia after spy attack

British Prime Minister, Theresa May, will chair a meeting of her National Security Council this morning, where she is expected to hear evidence from her intelligence services that Russia was behind the nerve agent attack on spy Sergei Skripal, according to a report in The Times. That could prompt the U.K. to present “retaliatory measures” to parliament within “the next ... Read More »

Nigeria’s foreign reserves hit $46bn, brightens future outlook

Nigeria’s external reserves climbed to an all-high mark of $46 billion as at last Friday, March 9, 2018, raising hopes of  better savings prospects for the  country in the months ahead. According to statistics on the foreign earnings provided by the Central Bank of Nigeria (CBN) at the weekend, the reserves grew by about $3.2 billion between February and March ... Read More »

Buhari approves new excise duty rates for alcoholic beverages, tobacco

President Muhammadu Buhari has approved an amendment to the excise duty rates for alcoholic beverages and tobacco with take effect from 4th June, this year. To enable manufacturers and other economic stakeholders adjust to the fiscal regime, the President also granted a grace period of 90 days to all manufacturers before the commencement of the new excise duty regime. However, ... Read More »

NDIC to probe banks over non-rendition of returns on fraud cases

The Nigeria Deposit Insurance Corporation (NDIC) today hinted on its plans to investigate some Deposit Money Banks (DMBs) for inadequate rendition of returns to the Corporation on instances of fraud and forgeries. The investigation will also cover cases involving bank employees who were either dismissed or had their appointments terminated on grounds of fraudulent activities. The proposed measure is in ... Read More »

AfDB to tackle infrastructure financing gap with $170bn

The board and management of the African Development Bank (AfDB) are currently working towards bridging infrastructure financing gap with $170 billion facilities across African countries through investments initiative. AfDB said it has already opened talks with its Governors to unravel strategies that are effective and efficient in closing Africa’s $170 billion infrastructure investment gap. It also canvassed for support among ... Read More »