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For those interested in some AfDB history. According to the legend, Nigeria (Obasanjo) losing this vote eventually led to the formation of AFC. DEADLOCK over the election of a new president of the African Development Bank (AfDB) at last month’s annual meeting threatens the bank’s bid to become a major channel for the fresh aid to Africa as proposed by UK Prime Minister Tony Blair and the New Partnership for Africa’s Development. Britain, which chairs the Group of Eight (G8) and European Union this year, advocates a much bigger role for the AfDB group in development financing. It has won…

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The leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele, has warned that unless President Muhammadu Buhari engages in fervent prayer, he will lose another aide. It should be recalled that the Chief of Staff to the President, Abba Kyari, died in April after falling ill due to the Coronavirus Disease. Ayodele, in a series of prophesies, including those on the governorship primaries in Edo and Ondo States, called on President Buhari to be active in his governance and take to prayer so as not to lose another aide. He commented on the activities of the Office of the Chief…

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ABUJA, May 29 – Nigeria’s five-year bond yield dropped more than 200 basis points on Friday as yields fell across maturities, a day after the central bank unexpectedly cut its benchmark lending rate to stimulate growth in Africa’s largest economy, traders said. The bank lowered its benchmark interest rate to 12.5% from 13.5%, on Thursday, triggering bond yields to fall. The yield on the most liquid 5-year paper fell 201 basis points to 6.5% while the 2026 paper, a seven year bond, with six years to maturity, fell 120 basis points to yield 8.8% following the rate cut. Traders said…

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The Akwa Ibom State Government has vowed that it will probe the mystery surrounding the sudden death of the Acting Executive Director of Finance in the Niger Delta Development Commission,NDDC, Mr Ibanga Etang. Emerging reports reveal that the COVID-19 test result of Mr Ibanga Bassey Etang has returned negative, even as NDDC management had shut down its operation for two weeks over reported COVID-19 scare shortly after the death of executive director of the Commission. Mr Udom Emmanuel during the commissioning of an ultra modern infectious disease isolation and treatment center in Uyo, had strongly called for an autopsy the…

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President Buhari has approved the appointment of Hon. Justice M.B. Dongban-Mensem as the Acting President of the Court of Appeal (PCA) with effect from June 3, 2020, for a further period of three (3) months. This is pursuant to Section 238(4) and (5) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended).

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The APC chairmen in 18 local government areas of Edo State, yesterday, threw their weight behind Governor Godwin Obaseki on indirect primary election for the party’s governorship primary slated for June 22, 2020. While the National Working Committee (NWC) of the party had proposed direct mode for the primary, members of the Obaseki faction are pushing for indirect. Addressing journalists yesterday in Benin, the leader of the chairmen, Benjamin Oghumu, said the endorsement of indirect primary was in accordance with the resolution of the State Executive Committee (SEC) of the party. While calling on President Muhammadu Buhari to call the…

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The Federal High Court, Abuja, has again adjourned until fixed June 3 to hear a suit filed by 31 political parties against the Independent National Electoral Commission (INEC). Justice Anwuli Chikere, on Friday, gave the new date following the court’s inability to sit as scheduled. INEC had, on Feb. 6, deregistered 74 political parties, leaving 18 others. However, in a motion on notice with suit number: FHC//ABJ/ CS/444/19 between Advanced Congress of Democrats (ACD) and 32 others Vs. Attorney General of the Federation (AGF) and INEC (1st and 2nd respondents respectively), the applicants had approached the court for restraining order. …

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The Federal High Court sitting in Lagos Friday restrained the Ministry of Petroleum from selling or accepting bids for Dawes Island Marginal Oil Field (Oil Mining Licence 54) pending determination of a suit challenging its status. Justice Oluremi Oguntoyinbo granted the order of interim injunction against the minister of state and his ministry following a May 18 ex parte application filed by Eurafric Energy Ltd. The Dawes Island marginal field located in OPLs 2005 & 2006 was formerly OML 54 and is in swamp terrain about 15km southwest of Port Harcourt, Rivers State. The Federal Government in April 2020 purportedly…

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The Presidency on Thursday said President Muhammadu Buhari’s electoral victory in 2015 saved Nigeria from imminent collapse. It also hailed the Buhari administration for optimum performance in various sectors of the nation’s life in the last five years. The Presidency released its “vote of confidence” and accolades for the administration in Abuja on Thursday in commemoration of its fifth year in the saddle. In a statement by the Special Adviser to the President on Media and Publicity, Mr Femi Adesina, the Presidency noted that the Buhari administration had moved the country forward. It stressed that wherever the government had not completely achieved…

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The 15-man medical team from China who arrived Nigeria on April 9 to help contain the Coronavirus pandemic flown out of the country.This was disclosed by Nollywood actress, Omotola Jalade-Ekeinde, whose husband, Matthew Ekeinde is a pilot.She took to her Instagram page to announce that her husband was embarking on his first flight in two months due to the shut down of the nation’s airspace.Sharing a picture of her husband and his co-pilot fulled kitted in a face shield and a mask, she wondered if it was the new normal. The Nollywood diva eventually added that he was flying the…

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