Economy

Negotiations Ongoing To Release Victims Of Abuja-Kaduna Train Attack – Presidency

Negotiations Ongoing To Release Victims Of Abuja-Kaduna Train Attack – Presidency

Special Assistant to President Muahmmadu Buhari on Media, Garba Shehu, has said that negotiations are ongoing to ensure the release of the victims of the Abuja-Kaduna train attack. Nine were said to have been killed, over 20 others sustained injuries from gunshots, and many passengers were abducted when bandits attacked an Abuja-Kaduna train in March. Shehu disclosed this during an interview on Channels TV’s Politics Today on Friday. He said, “We’re aware that there has been resistance from the family members of those who have been taken captive. Of course, this is expected. This acts as pressure on one of…
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Nigeria’s accountant-general suspended over alleged N80bn fraud

Nigeria’s accountant-general suspended over alleged N80bn fraud

The Accountant-General of the Federation, Ahmed Idris, has been suspended indefinitely over alleged N80 billion fraud. He was suspended by the Minister of Finance, Budget and National Planning, Zainab Ahmed, on Wednesday. In a letter dated May 18, 2022, the minister said the suspension “without pay” was to allow for “proper and unhindered investigation” in line with public service rules. On Monday, the Economic and Financial Crime Commission announced the arrest of Idris over alleged diversion and laundering of N80 billion. Head of Media and Public Information, Mr Wilson Uwujaren, stated that verified intelligence reports showed that Idris raked off…
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Nigeria, 10 ECOWAS countries in debt distress – Report

Nigeria, 10 ECOWAS countries in debt distress – Report

A new report by the Nigerian Economic Summit Group and the Open Society Initiative for West Africa has disclosed that Nigeria and 10 other Economic Community of West African States countries are currently in debt distress based on debt sustainability analysis. The 10 other countries are Benin, Burkina Faso, Cabo Verde, the Gambia, Ghana, Guinea Bissau, Liberia, Niger, Senegal, and Togo. The report, titled ‘Debt Management, restricting and Sustainability in ECOWAS’, was recently launched at the Debt Management Office in Abuja. A copy of the report was obtained by our correspondent on Tuesday. According to the report, a financial crisis…
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China, India eye Russian oil, move to jettison Nigeria

China, India eye Russian oil, move to jettison Nigeria

Nigeria may lose its largest crude oil buyers, China and India, as both countries plan to negotiate Russian oil at discount prices. India is said to be asking Russia for below $70 per barrel discount price. The duo’s move comes as Europe considers banning Russian oil due to the country’s invasion of Ukraine. OPEC’s Secretary-General, Mohammad Barkindo, during his address at the Offshore Technology Conference, OTC, in Houston on Wednesday, reiterated that there was no replacement for Russia’s 7 million barrels per day oil market supply. The European Commission had proposed a full ban on Russian crude oil following the…
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We are buying Twitter from Elon musk – Cubana Chief Priest

We are buying Twitter from Elon musk – Cubana Chief Priest

Less than 48 hours after taking over Twitter, Business mogul, Elon Musk is set to be put to the test, as celebrity barman, Cubana Chief priest, claims that him and some other billionaires from the Eastern part of Nigeria, are preparing a bid to buy Twitter from the world's richest man. "We are making progress on submitting our offer to acquire Twitter from Elon Musk, with $70B. Billionaires from the East comprising myself, Obi and E-Money and the rest, we are coming.." Cubana Chief priest tweeted. Early this year, business magnate Elon Musk proposed to buy out Twitter, Inc., for…
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