Breaking News in Nigeria Today Tuesday 3rd March 2020
Here are some of the Breaking News in Nigeria Today Tuesday 3rd March 2020 on some of the nation newspapers .
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Coronavirus, its burden on Nigeria’s oil space
Beyond the health sector, which is currently taking the heat, coronavirus, reported to have recorded its first case in Nigeria, is wreacking serious havoc on the oil sector the cash cow of the country’s economy. Adeola Yusuf reports L ast Friday, the narrative about Nigeria and the dreaded coronavirus had a remarkable turnaround. That day, Africa’s most populous nation recorded its first ever case of the killer infection through an Italian national, who travelled to two Nigerian states of Lagos and Ogun. In less than 24 hours,…
Sanwo-Olu commissions UBA business office at Afriland Towers
T he United Bank for Africa (UBA), last Friday, officially added a new touch point to its network. The new branch in Afriland Towers on the Lagos Island was commissioned by Governor of Lagos State, Mr. Babajide Sanwo-Olu, and the Chairman of UBA, Mr. Tony O. Elumelu. The governor, who congratulated the UBA management and Afriland for the beautiful edifice, said the bank has remained a principal stakeholder in the development of Lagos, constantly creating jobs and opportunities for Nigerians. Sanwo-Olu congratulated UBA and Afriland on the major…
Coronavirus: IMF, World Bank pledge support for member countries
A s the Coronavirus (COVID-19 virus) continues to spread rapidly across the world, the International Monetary Fund (IMF) and the World Bank have said they are ready to help member countries deal with the socio- economic challenge posed by the virus outbreak. In a joint statement issued yesterday by the Managing Director of the IMF, Kristalina Georgie VA, and President of the World Bank Group, David Malpass, the Bretton Woods institutions pledged to use all their “available instruments, including emergency financing, policy advice, and technical assistance,” to assist nations,…
IFRS 17: NAICOM inaugurates financial reporting working group
F ollowing the expected adoption of International Financial Reporting Standards 17, the National Insurance Commission (NAICOM) has inaugurated Insurance Industry Financial Reporting Working Group (IIFRWG), an advisory and consultative team for the purpose of seamless adoption of IFRS 17 in Nigeria. While inaugurating the group in Lagos yesterday, the Acting Commissioner for Insurance, Mr. Sunday Thomas, recalled that in May 2017, the International Accounting Standard Board (IASB) issued the IFRS 17 insurance contract, stressing that this standard would replace the present IFRS 4 on accounting for insurance contracts by…
NSE opens week negative, loses N208bn
T he Nigerian equities market yesterday closed negative as sell pressure remains unabated, producing only 28 losers and nine gainers. Key market indicators, the NSE ASI, declined by 1.53 per cent as investors continue sell-off of their shares following coronavirus global threat. Consequently, the All-Share Index dropped by 399.89 basis points or 1.53 per cent from 25,816.57 index points last Friday to 26,216.46 while the market capitalisation of equities depreciated by N208 billion to close at N13.449 trillion from N13.657 trillion. On the activity chart, the baking sub-sector…
Akeredolu: With eyes on higher heights
“W e listened to the voices of our people in the course of our campaigns to all the nooks and crannies of the State. We heard them loud and clear though their votes. We witnessed, first hand, the deplorable conditions under which they exist. To those who cast their ballots in favour of our programmes, your trust is not misplaced. “We are determined to make the difference with the specific mandate of redemption liberally handed over to us. Those who expressed other preferences are no less patriotic.…
NNPC’s N240bn revenue surplus under threat
NNRC queries Corporation’s unaudited half year 2019 report CRITIQUE Group lampoons government over poor definition of Corporation’s role T he N240 billion half year revenue surplus declared by the Nigerian National Petroleum Corporation (NNPC) is under threat. The Nigeria Natural Resource Charter (NNRC), which gave this hint in a report sighted at the weekend, queried the corporation’s unaudited Half Year 2019 report because the “wide-ranging evaluation report is branded as a product of “selective” perception. The group, which lampooned government’s poor definition of…
NECO to prosecute four UniAbuja students for forgery
T he National Examination Council (NECO), has concluded plans to prosecute four students of the University of Abuja for allegedly forging their NECO results to gain admission into the university. The students; Effiong Theresa Etim, Solomon Victor, Abdulkabir Mohammad, and Yakubu Joy Adama, were handed over to NECO for prosecution by the management of the University, and are expected to be arraigned this week in a court sitting in Abuja. Their arrest followed an ongoing screening exercise embarked upon by NECO on all the higher institutions in Nigeria, which…
Climate change: Kwara closes forest, to launch tree planting
K wara State Government has announced at least a month closure of the forests for all activities except farming, expressing worries that indiscriminate activities in the forests were fast disrupting the state’s ecosystem and exposing it to severe effects of climate change. “The (government) is very worried about the rate of wanton deforestation for both legal and illegal purposes such as charcoal and other wood resources/products without commensurate regeneration,” Commissioner for Environment, Architect Aliyu Saifudeen told newsmen in Ilorin, the state capital, yesterday. “This is causing a…
Court to hear Ile Arugbo suit March 25 as peace talks collapses
F ollowing collapse of peace talks on an amicable resolution of the disputed land on which Ile Arugbo was constructed, Justice Abiodun Adebara of a Kwara State High Court, sitting in Ilorin, has fixed 25th March, 2020 for the hearing of a suit challenging the Kwara State government’s revocation of the land allegedly belonging to the late strongman of Kwara politics, Dr. Olusola Saraki. Justice Adebara had at the last sitting on January 24th, 2020 counselled parties in the case- Asa Investment Limited and the Kwara State government…
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