Tag: Finance - Page 26 - African News Today

Botswana Bans Sale of Alcohol, Halts Liquor Licences as Part of Measures to Curb COVID-19 Spread

6Aug

By Obiajulu Joel NwoluNo Comments

Covid-19, Economy, Finance, News, Safety, Science

Botswana Bans Sale of Alcohol, Halts Liquor Licences as Part of Measures to Curb COVID-19 Spread

Botswana has banned the sale and consumption of alcohol in public places and withdrawn liquor licenses in the country as part of effort to curb the spread of the fatal COVID-19. This was disclosed by President Mokgweetsi Masisi through a gazette notice released on Wednesday by the government. “NOTICE IS HEREBY GIVEN that His Excellency the President, acting in accordance with regulation 30G of the Emergency Powers (COVID-19) Regulations, 2020, has with immediate effect suspended all liquor licences issued in terms of the Liquor Act,” the notice read in part. The statement also clarified that “liquor” also included traditional beers, which are brewed by a majority of rural households in Botswana. “The suspension of the sale of alcohol is based on evidence that consumption of alc...

Edo Poll Update: Idiaye Impeached as Edo Assembly Deputy Speaker

5Aug

By Obiajulu Joel NwoluNo Comments

Legislature, News, Nigeria

Edo Poll Update: Idiaye Impeached as Edo Assembly Deputy Speaker

Yekini Idiaye, Deputy Speaker of the Edo State House of Assembly has been impeached. He was relieved of his position on Wednesday during a plenary of the Assembly in the capital city of Benin. Roland Asoro, the member representing Orhionmwon II Constituency, was elected as the new Deputy Speaker of the House. Tension continues to rise in the state as the gubernatorial election scheduled for September 19 draws closer. Some lawmakers on Monday endorsed the candidacy of the candidate of the All Progressive Congress (APC) Ize-Iyamu, while on a private visit to the Benin residence of the APC flag bearer. Idiaye, a critic of the Governor Godwin Obaseki administration, had said, “There is no reason for me to defect to another party because there is no single project in my...

Akpabio’s Contract Beneficiaries List Genuine- NDDC

5Aug

By Obiajulu Joel NwoluNo Comments

Corruption, Crime, Justice, Legislature, News, Niger Delta, Nigeria

Akpabio’s Contract Beneficiaries List Genuine- NDDC

The Niger Delta Development Commission (NDDC) has given credence to the list of contract beneficiaries made public by the Minister of Niger Delta affairs, Godswill Akpabio. The minister had released a list containing names of prominent federal legislators and former governors as beneficiaries of contracts awarded by the NDDDC. Among the lawmakers listed as beneficiaries were: Chairman of senate committee on NDDC, Peter Nwaoboshi; Matthew Urhoghide, chairman of the senate committee on public accounts; and Orji Uzor Kalu, senate whip. Akpabio also listed James Ibori and Emmanuel Uduaghan, former governors of Delta state as beneficiaries. All the individuals named have rebuffed the claim, accusing the minister of attempting to divert attention from the NDDC probe and tarnishing t...

Africa, World Risk ‘Generational Catastrophe’ on Education, UN cautions

4Aug

By Obiajulu Joel NwoluNo Comments

Africa, African Development, Covid-19, Economy, Education, Employment, Finance, Interview, Life, News, Press Statement, Safety, Science, United Nations, Youths

Africa, World Risk ‘Generational Catastrophe’ on Education, UN cautions

The United Nations (UN) cautions that Africa and the rest of the world could witness a “generational catastrophe” due to the closure of schools around the world amid the COVID-19 scare. This was disclosed by U.N. Secretary-General Antonio Guterres in a communique. Reports suggest as at mid-July, at least 160 countries had closed their schools keeping more than 1 billion students at home while at least 40 million children have missed out on pre-school. Guterres said ensuring the safe return of students to classroom must be a “top priority”. “Now we face a generational catastrophe that could waste untold human potential, undermine decades of progress, and exacerbate entrenched inequalities,” said Guterres as he launched a U.N. “Save our Future” campaign. He further stated that, “...

3Aug

By Obiajulu Joel NwoluNo Comments

Economy, Finance, News, Nigeria, Press Statement, South Africa

Shoprite Commences Process to Shut down Operation in Nigeria

South Africa’s grocery retail giant, ShopRite, plans to discontinue its operation in Nigeria. Shoprite first made its way to Nigerian market in Lagos in December 2005. On Monday morning, the firm said in a trading update filed at the Johannesburg Stock Exchange that it plans to stop operations in Nigeria. International supermarkets (excluding Nigeria) contributed 11.6 per cent to group sales and reported 1.4 per cent decline in sales from 2018. 78 percent of overall sales was contributed by South African operations and accounted for 8.7 percent increase for the year. The company said it had received offers from investors seeking to take over its Nigerian operations. It said it was deliberating a total sale of its operations or selling a majority stake to Nigerian subsidia...

APC Extends Olive Branch to Atiku, Saraki, Others after Dogara, Gemade’s Return

3Aug

By Obiajulu Joel NwoluNo Comments

African Development, Economy, Employment, Finance, Interview, Legislature, News, Nigeria, Press Statement, Youths

APC Extends Olive Branch to Atiku, Saraki, Others after Dogara, Gemade’s Return

The All Progressive Congress (APC) has beckoned to aggrieved bigwigs who left the party to return to its fold in the spirit of reconciliation. The ruling party extended an invitation to heavyweights such as former vice president and presidential candidate of the People’s Democratic Party (PDP) in the 2015 election, Atiku Abubakar, Governor Aminu Tambuwal of Sokoto State, former senate president Bukola Saraki and others who left the party ahead of the 2019 election till date. The party made the call after the return of Senator Barnabas Gemade of the Social Democratic Party (SDP) to the party at the weekend. Ealier, immediate past Speaker of the House of Representatives, Yakubu Dogara decamped to the party after moving to PDP to contest 2019 election. APC said the return of the d...

Nigeria: The Debate Over Relinquishing Sovereignty by Victor Oladokun

3Aug

By adminNo Comments

Africa, China, Economy, Finance, News, Nigeria

Nigeria: The Debate Over Relinquishing Sovereignty by Victor Oladokun

The Nigerian Minister of #Transportation, Rotimi Amechi, has been in the news recently. He says he has only just become aware of a clause in a $5 billion rail project to be built by #China, that requires the relinquishing of sovereignty in the event of a loan default. With all due respect, this is a red herring. #Nigeria should not and must not relinquish an iota of its sovereignty. There are other ways of financing infrastructure #development, including direct foreign investment, private sector partnerships, bonds, the utilisation of a portion of the country's sovereign wealth fund, and concessionary loans from institutions such as the #AfricanDevelopmentBank This is not about China. Rather, it is about smart investing and the imperative of not discounting Nigeria's development aga...

Napoli Completes Club Record €50m Deal for Nigerian Striker Osimhen from Lille

1Aug

By Obiajulu Joel NwoluNo Comments

African Development, Employment, Finance, News, Nigeria, Sports, Youths

Napoli Completes Club Record €50m Deal for Nigerian Striker Osimhen from Lille

Napoli has completed the club record signing of Nigerian striker, Victor Osimhen from Ligue 1 side, Lille. Osimhen who bagged 18 goals in 38 appearanced for Lille in the just concluded 2019-20 season joins Napoli for a club record €50 million (£45m/$59m) fee. Speculations had linked the forward with several top European clubs after his topnotch form in front of goal, including scoring against Premiere league clubs Arsenal and Liverpool but Osimhen has opted for the Serie A side. Osimhen has scored four goals in 10 appearances for the super Eagles of Nigeria. He first moved to Europe in 2017 with Wolfsburg in German Bundesliga, before joining Charleroi in Belgium on a initial loan deal which was later made permanent. He was prolific in Belgium as he scored an impressive 36 goals...

Buhari Reacts to NDDC, EFCC Probes, says it’s an Abuse of trust

1Aug

By Obiajulu Joel NwoluNo Comments

African Development, Corruption, Crime, Economy, Finance, Human Rights, Interview, Judiciary, Justice, Legislature, News, Niger Delta, Nigeria, Press Statement, Religion

Buhari Reacts to NDDC, EFCC Probes, says it’s an Abuse of trust

President Muhammadu Buhari on Friday reacted to corruption allegations rocking the Niger Delta Development Commission and Economic and Financial Crimes Commission (EFCC). He said that some of his appointees have betrayed the trust reposed in them. The president disclosed this in a chat with reporters after observing Eid Mubarak prayers at the forecourt of the presidential villa. He said, “There has been abuse of trust by people trusted by previous administration and this administration.” Ibrahim Magu, suspended acting chairman of the Economic and Financial Crimes Commission (EFCC) has being quizzed by a presidential panel over allegations of corruption and abuse of power. The interim management of the Niger Delta Development Commission (NDDC) led by Kemebradikumo D...

Enugu State’s Civil Servants to Resume Work August 3 -Governor Ugwuanyi

30Jul

By Obiajulu Joel NwoluNo Comments

African Development, Covid-19, Economy, Education, News, Nigeria, Press Statement, Safety

Enugu State’s Civil Servants to Resume Work August 3 -Governor Ugwuanyi

The Governor Enugu State, Ifeanyi Ugwuanyi has asked all civil servants in the state to resume work on Monday, August 3, 2020. The directive was contained in a statement by the Secretary to the State Government, Prof. Simon Uchenna Ortuanya. In the statement, the state government advised returning civil servants to observe all Nigeria Centre for Disease Control (NCDC) protocols for containment of the spread of Coronavirus Disease (COVID-19), “including hand washing with soap, use of alcohol-based hand sanitizer, compulsory use of face shield/mask and maintaining social distancing”. It would be recalled that following the outbreak of COVID-19 pandemic, the Enugu State Government, directed all civil servants in the state to work from their homes since March 23, 2020, as part of meas...