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Nigeria’s external reserve hits $35bn

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President Muhammdu Buhari assured Nigerians on Saturday that the country’s economy was doing well.

The President said apart from saving $500m in the Sovereign Wealth Fund and investing another $500m in the SWF, the country’s external reserve presently stands at $35bn, the highest in the past four years.

According to him, the Federal Government has saved about N18bn within one year after the establishment of an Efficiency Unit under the Federal Ministry of Finance in early 2016 to reduce wastage, plug leakages and foster greater fiscal transparency

The President  was represented by Vice-President Yemi Osinbajo (SAN),who  stated this on Saturday in Jos, during the graduation of 66 participants in the 2017 Senior Executive Course 39 of the National Institute for Policy and Strategic Studies in Kuru.

He said, “For the first time in five years, we saved $500m, and invested another $500m in the Sovereign Wealth Fund. Today, our external reserves stand at $35bn, the highest in the past four years. Today, we can see light at the end of the tunnel; darkness is giving way to light.”

He added that the Presidency stopped the siphoning of funds through ghost workers by insisting that all Ministries, Departments and Agencies must be on the Integrated Payroll and Personnel Information System in all tiers of government and mandated the use of Bank Verification Numbers.

He said over 461 federal MDAs had been captured on the system thus far, with the objective of being able to enroll all of them.

Source: ( Punch Newspaper )

 

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National News

WTO: Trump Wrong For Rejecting Okonjo-Iweala – Fani-Kayode

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#EndSWAT: Things Will Fall Apart – Fani-Kayode Warns Buhari Govt
WTO: Trump Wrong For Rejecting Okonjo-Iweala – Fani-Kayode

Femi Fani-Kayode

Former Minister of Aviation, Femi Fani-Kayode has condemned the move by the United States President, Donald Trump to block the appointment of Ngozi Okonjo-Iweala as the Director-General of World Trade Organisation (WTO).

Recall that Okonjo-Iweala on Wednesday won the popular vote by a wide margin, with the expectation of an announcement after a World Trade Organization meeting in Geneva.

She was reported to have won the support of 104 of all 164 member countries of the WTO, many of which were from Africa and Europe.

Also Read: Video Of Desmond Elliot Calling For Social Media Regulation Hits The Internet

However, the US reportedly expressed its disappointment over the appointment of Ngozi Okonjo-Iweala despite her widely gained support.

Reacting in a post on his Twitter page, Fani-Kayode warned that Trump’s opposition to Okonjo-Iweala would upset millions of his supporters in Nigeria and Africa.

He wrote:

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Nigeria’s Economy Too Fragile For Fresh Lockdown —Buhari

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Buhari, Former Leaders, Security Chiefs Meet In Aso Villa
Nigeria’s Economy Too Fragile For Fresh Lockdown —Buhari

Buhari

President Muhammadu Buhari has warned that Nigeria’s economy is too fragile for fresh coronavirus (COVID-19) lockdown.

The president stated this in a post on his Twitter handle @MBuhari on Thursday.

Buhari stated that compliance with COVID-19 protocols by all Nigerians is crucial to avert a second wave of the pandemic in the country.

Also Read: Femi Adesina: #EndSARS Protests Fuelled Looting Of Warehouses

This is coming following the recent increase in Coronavirus cases in many countries around the world.

He wrote:

“Looking at the trends in other countries, we must do all we can to avert a second wave of COVID-19 in Nigeria.

“We must make sure that our cases, which have gone down, do not rise again. Our economy is too fragile to bear another round of lockdown.”

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Femi Adesina: #EndSARS Protests Fuelled Looting Of Warehouses

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#EndSARS: I have been receiving curses on my phone – Femi Adesina
Femi Adesina: #EndSARS Protests Fuelled Looting Of Warehouses

Femi Adesina

Femi Adesina, special adviser to President Muhammadu Buhari on media and publicity has alleged that some Nigerians involved in recent cases of looting experienced in some cities across the country didn’t do it because they were angry or hungry.

He alleged that they were simply taking advantage of the collapse of law and order caused by the #EndSARS protests.

He stated this on Thursday, 29th October when he appeared on Channels Television’s Sunrise Daily programme.

He declared that poverty has nothing to do with the invasion of COVID-19 palliatives warehouses.

Also Read: BREAKING: Public, Private Schools Can Reopen Monday – Lagos Govt

He said: “Criminality is criminality. Would it justify armed robbery because the man was poor? Would you justify armed robbery because the man didn’t have money?

“Just as you cannot justify armed robbery because a man was poor and took a gun to rob another person, you can’t also justify the lootings going on because it is pure criminality. My view is that it is not everybody that is hungry that engaged in that looting. This is the truth, it is greed and pure criminality.

“Criminality will always be criminality and anarchy promotes criminality. What has happened in the past two or three weeks led to what is happening now. If there was cohesion and tranquility in society, this would not have happened. Therefore, it is corollary to the near anarchic situation that came on the country because of the protest.

“If you did not have people burning police stations, killing policemen, burning private and public property, you won’t have this kind of looting. That means those same people will be in society and will find ways to eke out a living but because the situation was created for near-anarchy that is why you have this.

“So, I don’t agree that it is all about poverty. Yes in any country, you will have people that are poor, hungry…that is one of the reasons you have government to ensure that the number of the poor reduces progressively.

“So this crowd of people you see going to loot are not necessarily hungry or angry; they are taking advantage of the collapse of law and order that came as a result of the protest.”

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