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Nigerian states pay N21.62 billion as external debt deductions in Q1 2022

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Tech Updates

Apple and Zoom Fined by Russia Over Data Violation

This week, Apple and Zoom were fined 2 million rubles ($32,500) and 1 million rubles ($16,250) respectively by Russia for refusing to store its user data inside the country. Read more…

Local Stories

NLC, TUC imposing LP gov candidate – C’River chair

The Cross River State Chairman of the Labour Party, Ambassador Ogar Osim, has alleged that the Nigerian Labour Congress and the Trade Union Congress want to foist a governorship candidate on the party. Read more…

We’re not aware of the N1.2tn proposal, says ASUU

On Thursday, the Academic Staff Union of Universities’ National President, Prof Emmanuel Osodeke, said the union was not aware of the N1.2tn that the Federal Government said it would need to meet its members’ demands. Read more…

PDP sues INEC, APC, seeks Obi, Tinubu’s disqualification

The Peoples Democratic Party has instituted a lawsuit compelling the Independent National Electoral Commission to prevent All Progressives Congress Presidential candidate, Bola Tinubu; and Labour Party standard bearer, Peter Obi, from replacing their running mates with Senator Kashim Shettima and Senator Datti Baba-Ahmed respectively. Read more…

International Stories

China's economy records slowest growth since the start of 2020

China's economy has recorded its worst quarterly performance in over two years, after months of harsh Covid lockdowns wreaked havoc across the country. Read more…

US and Japanese warplanes put on show of force as tensions spike with China and Russia

More than 50 US and Japanese warplanes flew over waters near Japan this week as the two allies put on a show of force amid rising tensions in the region with China and Russia. Read more…

Saudi Arabia: Biden set to meet Crown Prince amid criticism

US President Joe Biden will meet Palestinian leaders in the occupied West Bank on Friday before he flies to a controversial summit in Saudi Arabia. Read more…

Business Matters

FG approves N400 billion for Conditional Cash Transfer, Farmer Money, others

The Federal Government has approved the sum of N400 billion under the National Poverty Reduction and Growth Strategy (NPRGS), which covers certain welfare schemes including the Government Enterprise and Empowerment Programme (GEEP), Conditional Cash Transfer, Farmer Money, and Market Money. Read more…

Nigerian states pay N21.62 billion as external debt deductions in Q1 2022

The thirty-six (36) states of the federation parted with a sum of N21.62 billion as external debt deductions in the first quarter of 2022, an increase of 31.5% from N16.44 billion deducted in the corresponding period of 2021. Read more…

Exchange rate depreciates at I&E window despite improvement in FX supply

Naira depreciated marginally against the US dollar at the official market on Thursday, with a 0.01% decline to close at N424.62/$1, despite a 44.56% increase in forex turnover. Specifically, a total of $87.95 million in FX value exchanged hands in the market on Thursday compared to $60.84 million that was traded in the previous trading session. Read more…

Metro

Ivana Trump, an ex-wife of former President Trump, dies at 73

Ivana Trump, a longtime businessperson and an ex-wife of Donald Trump, has died in her home in New York City, the former President posted Thursday on Truth Social. She was 73. Read more…

Quote of the Day

“Desire is the key to motivation, but it’s the determination and commitment to an unrelenting pursuit of your goal—a commitment to excellence—that will enable you to attain the success you seek.”
—Mario Andretti