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Reps To Donate Two Months’ Salary For Fight Against COVID-19 The members of the House of Representatives have resolved to donate their two months’ salary to support the fight against the COVID-19 pandemic in Nigeria. Speaker, Femi Gbajabiamila who announced this in a statement made available to Channels Television on Tuesday said the donation will be independent of the contributions by individual lawmakers to alleviate the hardship that their constituents face as a result of the pandemic. Gbajabiamila said, starting from March, the lawmakers’ donation will be transferred directly to the National Relief Fund account for the fight against COVID-19. “We have in the House of Representatives jointly committed to contributing one hundred percent (100%) of our salaries for the next two months to the fight against COVID-19 in Nigeria. “Our contribution will support provisions for the welfare of frontline medical professionals and health workers, and other interventions to provide ...

Enugu Airport: Easter deadline suspended over coronavirus – Aviation Minister The Minister of Aviation, Senator Hadi Sirika, Tuesday, announced suspension of ongoing rehabilitation work at the Akanu Ibiam International Airport, Enugu. Senator Sirika, who made the announcement when he inspected the airport, said procurement was suspended because workers of the construction company, PW, handling the project left the site to be with their families owing to the Coronavirus Disease (COVID-19) pandemic ravaging the world.  The Minister who was accompanied by the Managing Director of the Federal Airports Authority of Nigeria (FAAN), Capt. Hamisu Rabiu Yadudu, stated that “92-93 percent of the work at the Enugu airport has been completed”. According to him, “the work would have been completed in a few weeks time, but the workers left to be with their families in view of the social distancing protocol. “But considering that the construction workers have downed tools owing to the COVID...

Exclusive Front-Row Tickets, Once in a Lifetime Fan Reporting, & more! – An Amstel Malta AMVCA Experience The Africa Magic Viewers’ Choice Awards (AMVCA) held on Saturday 14 March at the prestigious Eko Convention Centre. The award, now in its 7th edition, was headline-sponsored by number one premium malt drink; Amstel Malta. As usual, the awards delivered all the pomp and glamour it is recognized for, leaving an indelible mark on the entertainment scene and audiences across Africa, and retaining its position as the most anticipated film and television awards in Africa.  Leading up to the awards, headline sponsor, Amstel Malta, delivered on its promise of giving fans an exclusive, front-row action to the AMVCAs. The brand kicked off in-store activations across major shopping outlets, surprising shoppers with the most coveted front-row tickets to the AMVCAs while the winner of the Fan Reporter online competition got exclusive front-row and back-stage access along with an i...

COVID-19: Rivers govt. imposes 24hrs curfew in identified areas This is contained in a statement issued in Port Harcourt on Tuesday by Mr. Soibi Max-Alalibo, Special Assistant on Media to the Rivers Commissioner for Information and Communications, Mr. Paulinus Nsirim. He quoted the Commissioner as saying that the development is in the quest to further prevent infection of the Coronavirus in the state. According to him, the 24-hour curfew was an improvement from the dusk-to-dawn curfew imposed by Gov. Nyesom Wike on March 30. “This is to inform members of the public that the curfew imposed at Education Bus Stop to Agip Junction, Ikwerre Road and Obiri Ikwerre Junction to Ozuoba, Rumualogu, and Choba is for 24 hours.  READ ALSO: COVID19: NCDC donates preventive materials to Delta “And it is with effect from March 31 till further notice,” he said. The commissioner noted that the state government had noticed some Banks were closing down in the state. “The curfew is targeted ...

COVID-19 lockdown: FG begins monitoring of fuel supply …Restrictions affecting out staff movement — oil marketers By Michael Eboh The Federal Government, yesterday, disclosed that it would continue to monitor the petroleum downstream sector to ensure unhindered supply of Premium Motor Spirit (PMS), also known as petrol, across the country during the period of the New Coronavirus (COVID-19) pandemic lockdown. This was even as oil marketers lamented that the lockdown was negatively affecting the movement of their staff, as vehicles were not available to convey them to the petrol stations, while over zealous security personnel were restricting their movement.  Addressing newsmen during its reinforcement of sales and distribution of petroleum products in the Federal Capital Territory, Abuja Zonal Controller of the Department of Petroleum Resources (DPR), Mr. Buba Abubakar, stated that so far, most petrol stations are complying with the directive of the Federal Government. He note...

How the law supports Buhari’s restriction orders ― Osinbajo Says the President invoked an Act of the National Assembly Questioning the legality of the presidential order restricting movements in the FCT, Lagos and Ogun states is quite unnecessary as the action taken is not only important but very well backed by extant Nigerian laws, according to Vice President Yemi Osinbajo, SAN. Prof. Osinbajo made this observation in Abuja while responding to questions on Monday at the Google Hangout programme organized by HACK COVID-19 Call Centre – a private sector initiative supporting Nigeria’s battle against the pandemic.  According to the Osinbajo, “regarding the legality of the shutdowns announced by the President yesterday, -Sunday-I think it is entirely legal. These steps are proactive, very relevant, important and backed by law. ALSO READ: Osinbajo backs Buhari on Lagos, Ogun, FCT lockdown “I am not so sure some of the people who have commented on the issue have come across the Qu...

UK furious over China’s coronavirus disinformation campaign against US British Prime Minister Boris Johnson’s government is furious with Beijing for spreading disinformation about the coronavirus, including that American soldiers may have introduced it in China, and said there would be a “reckoning” when the pandemic ends, according to a report. “There is a disgusting disinformation campaign going on and it is unacceptable. They [the Chinese government] know they have got this badly wrong and rather than owning it, they are spreading lies,” the Sunday Mail reported, citing a source.  Earlier this month, China began pushing an unfounded conspiracy theory that members of the US Army brought the virus to Wuhan last October when they attended the Military World Games. The first cases of the virus were reported in Wuhan in December. ALSO READ: Millions of Nigerians enter lockdown as Africa tries to halt virus The report also said scientists have told Johnson that they believe...

Congo’s 81-yr-old ex-president Yhombi-Opango dies of coronavirus Jacques Joaquim Yhombi-Opango, former president of the Republic of the Congo, has died after contracting coronavirus, his family said. Yhombi-Opango died in a Paris hospital on Monday. He was 81. Yhombi-Opango was ill before he contracted the virus, his son told AFP news agency. He led Congo-Brazzaville from 1977 until he was toppled in 1979, being ousted by the country’s current leader, Denis Sassou Nguesso. Born in 1939 in the country’s northern Cuvette region, Yhombi-Opango was an army officer who rose to power after the assassination of President Marien Ngouabi.  ALSO READ: How the law supports Buhari’s restriction orders ― Osinbajo The troubled oil-rich former French colony was aligned with the Soviet Union during Ngouabi’s 1968-1977 rule. Accused of taking part in a coup plot against Sassou Nguesso, Yhombi-Opango was jailed from 1987 to 1990. He was released a few months before a 1991 national conference t...

COVID-19: Wike imposes 24hrs curfew in identified areas The Rivers Government has imposed a 24-hour curfew in identified key areas of the state with high human traffic. This is contained in a statement issued in Port Harcourt on Tuesday by Mr Soibi Max-Alalibo, Special Assistant on Media to the Rivers Commissioner for Information and Communications, Mr Paulinus Nsirim. He quoted the Commissioner as saying that the development is in the quest to further prevent infection of the Coronavirus in the state. According to him, the 24-hour curfew was an improvement from the dusk-to-dawn curfew imposed by Gov. Nyesom Wike on March 30.  READ ALSO: Total lockdown: Wike shuts all Rivers air, land, sea borders indefinitely against COVID-19 “This is to inform members of the public that the curfew imposed at Education Bus Stop to Agip Junction, Ikwerre Road and Obiri Ikwerre Junction to Ozuoba, Rumualogu and Choba is for 24 hours. “And it is with effect from March 31 till further notice,” h...

Emirates To Suspend All Passenger Flights From March 25 Dubai carrier Emirates announced on Sunday it will suspend all passenger flights from March 25 amid the novel coronavirus outbreak. “By Wednesday 25 March, although we will still operate cargo flights, which remain busy, Emirates will have temporarily suspended all its passenger operations,” the airline’s chairman and CEO Sheikh Ahmed bin Saeed Al-Maktoum said in a statement. “We continue to watch the situation closely, and as soon as things allow, we will reinstate our services.” Emirates passenger flights normally serve 159 destinations. The United Arab Emirates on Friday announced its first two deaths from the COVID-19 disease, having reported 153 infections so far, of which 38 people have recovered. Maktoum said that, until January this year, the Emirates Group was “doing well” against current financial year targets, but “COVID-19 has brought all that to a sudden and painful halt over the past six weeks”. READ...

COVID-19: NSE Commences Execution Of Remote Working Plan The Nigerian Stock Exchange (NSE) says trading activities will be carried out remotely due to the recent confirmed cases of COVID-19 in the country. In a statement on Monday, the NSE noted that with effect from Wednesday, March 25, 2020, all its trading floors will be temporarily closed, while remote trading will continue. READ ALSO:  Coronavirus: Buhari Urges Nigerians In Lagos, Abuja To Stay At Home It adds that NSE staff will begin a 30-day remote working plan and will be available across all digital platforms to provide support. The statement says dealing members should continue to trade remotely through its electronic platforms such as Fix protocol and Xnet and reach out to their compliance officers if any support is required. The NSE also stated that all physical meetings within and outside its office premises have been suspended until further notice.

NCAA Clarifies Restriction Of International Flights Into Nigeria The Nigerian Civil Aviation Authority (NCAA) has clarified the restriction of international flights into the country. In a statement on Tuesday by its Director of Public Affairs, James Odaudu, it said flights considered essential for which permissions for landing may be sought and granted were excluded from the restriction. According to the agency, these include aircraft in a state of emergency, overflights, and operations related to humanitarian services, as well as medical and relief services. Others are alternate aerodromes identified in the flight plan, including those used for extended diversion time operations, technical stops where passengers do not disembark, cargo flights and other safety-related operations. “It must be noted that, with the exception of aircraft in a state of emergency, request for approval for other flights is required and must be directed to the Honourable Minister of Aviation who ...

CBN Retains MPR At 13.5 Per Cent The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 13.5 per cent. CBN Governor, Godwin Emefiele, announced the decision of the Monetary Policy Committee (MPC) after the two-day meeting which held at the apex bank’s headquarters in Abuja. According to Emefiele, all members of the committee had agreed to retain the current monetary policy stance. “An increase in the MPR will be taken by the deposit in the money banks as an invitation to increase lending rates and this will be most undesirable at this point in time when efforts are being made to avert a recession. READ ALSO :  Buhari’s Chief Of Staff, Abba Kyari, Reportedly Tests Positive For Coronavirus “Besides, a reduction in the MPR will not make the Deposit Money Banks (DMBs) reduce lending rates but other strategies of the CBN are making the DMBs to reduce the lending rates in furtherance of growth objectives,” he stated. “In view of the foregoing, t...

IMF, World Bank Call For Suspending Debt Payments By Poorest Nations The International Monetary Fund and World Bank on Wednesday called for governments to put a hold on debt payments from the world’s poorest nations so they can battle the coronavirus pandemic. “The World Bank Group and the IMF believe it is imperative at this moment to provide a global sense of relief for developing countries as well as a strong signal to financial markets,” the Washington-based development lenders said in a joint statement. The move aims to help countries that are home to two-thirds of the world’s population living in extreme poverty — largely in sub-Saharan Africa — and qualify for the most generous, low-cost loans from the International Development Association (IDA) financed by wealthier nations. “The coronavirus outbreak is likely to have severe economic and social consequences for IDA countries” which will face “immediate liquidity needs to tackle challenges posed by the coronavirus out...

FG Proposes Review Of Oil Benchmark To $30pb The Federal Government is proposing a review of the oil benchmark for the 2020 budget from an initial $57 to $30 per barrel due to the impact of the coronavirus pandemic and the plunge in international oil prices on the nation’s economy. In a meeting with the leadership of the National Assembly on Wednesday, Minister of Finance, Zainab Ahmed, explained that prior to the COVID-19 and oil price decline, the Nigerian economy was already fragile and vulnerable. She added that the impact of the pandemic put increasing pressure on the Naira and foreign reserves as the crude oil sales receipts declined and the country’s micro-economic outlook worsened. Ahmed disclosed that the Federal Government has undertaken cuts to revenue-related expenditures for the Nigerian National Petroleum Corporation (NNPC) for several projects included in the 2020 Appropriation Act passed by the National Assembly in December, 2019. Read Also:   Lawan, Gb...

COVID-19: CBN Grants Two-Week Market Holidays To Bureau De Change Operators The Central Bank of Nigeria (CBN) has granted a two-week market holiday to the Bureau De Change (BDC) operators. The President, Association of Bureau De Change Operators (ABCON), Aminu Gwadabe, disclosed this in a statement on Thursday, noting that this comes into effect from Friday, March 27. Mr. Gwadabe said this follows a request which was sent to the apex bank to grant the association market holidays given the ongoing challenges faced in local and global economies due to the impact of the Coronavirus (COVID -19) pandemic. He added that a notice of CBN’s approval was sent to BDC operators and directors, stating that sales of foreign exchange to BDCs is now suspended for a tentative period of two-weeks. He also advised the public not to go into panic buying, hoarding and patronising street traders as the apex bank has enough reserves to sustain supplies when the BDCs return to operations. “This...

NNPC, 33 Other Oil Firms Donate ₦11.4bn To Curb Coronavirus Spread The Nigerian National Petroleum Corporation and 33 of its partners in the oil and gas sector have contributed $30 million, about ₦11.4 billion to curb the coronavirus pandemic and reduce its effects on the Nigerian economy and populace. The NNPC’s Group Managing Director, Mele Kyari, disclosed this in a tweet where he announced the intervention fund on behalf of the oil firm and its partners. Kyari explained that the initiative was in line with the Federal Government’s ongoing efforts to curb the spread of the fast-spreading virus in the nation. Kyari stated that the intervention was aimed at supporting the country’s healthcare delivery facilities and would cover three major areas. He outlined the areas as the provision of medical consumables; deployment of logistics/in-patient support system and delivery of medical infrastructure. He said, “The three thematic support initiatives amount to a total of $30m (N1...

African Development Bank Launches Record Breaking $3bn ‘Fight COVID-19’ Social Bond The African Development Bank has raised an exceptional $3 billion in a three-year bond to help alleviate the economic and social impact the COVID-19 pandemic will have on livelihoods and Africa’s economies. The Fight Covid-19 Social bond, with a three-year maturity, garnered interest from central banks and official institutions, bank treasuries, and asset managers including Socially Responsible Investors, with bids exceeding $4.6 billion. This is the largest dollar denominated Social Bond ever launched in international capital markets to date, and the largest US Dollar benchmark ever issued by the Bank. It will pay an interest rate of 0.75%. The African Development Bank Group is moving to provide flexible responses aimed at lessening the severe economic and social impact of this pandemic on its regional member countries and Africa’s private sector. READ ALSO:  COVID-19: CBN Grants Two-Wee...

Buhari Stops Repayment Of TraderMoni, Other FG Loans For Three Months President Muhammadu Buhari has suspended the repayment of TraderMoni, MarketMoni and FarmerMoni. Speaking during a presidential nationwide broadcast on Sunday, the President directed that the suspension of other Federal Government loans be done with immediate effect. “I have directed that a three-month repayment moratorium for all TraderMoni, MarketMoni and FarmerMoni loans be implemented with immediate effect. READ ALSO :  Buhari Imposes Curfew In Lagos, Ogun And Abuja “I have also directed that a similar moratorium be given to all Federal Government funded loans issued by the Bank of Industry, Bank of Agriculture and the Nigeria Export-Import Bank. “For on-lending facilities using capital from international and multilateral development partners, I have directed our development financial institutions to engage these development partners and negotiate concessions to ease the pains of the borrowers,...

Asian Markets Fall As Coronavirus Fears Grow Asian markets fell Monday following a steep drop on Wall Street as the jubilation from last week’s enormous US stimulus package faded and investors returned their attention to the soaring infection and death rate of the coronavirus. Donald Trump finally signed off the more than $2 trillion pump-priming measures on Friday, but equities — which enjoyed a rally for much of the week — ended on a negative note as dealers took profits. While the disease ravages populations and the global economy grinds to a halt with 40 percent of the planet in lockdown, experts are struggling to get a grip on the scale of the crisis that is forecast to cause a worldwide recession. And analysts say there are likely more dark days ahead, with Trump abandoning his timetable for life returning to normal in the United States and extending emergency restrictions for another month. The president said he expected the country to “be well on our way to recover...