The World Trade Organisation (WTO) says world trade is expected to lose momentum in the second half of 2022 and remain subdued in 2023 as multiple shocks weigh on the global economy. WTO, in its latest forecast, stated that trade growth was expected to lose momentum in the second half of the year and remain subdued in 2023, as the global economy sustained multiple shocks, such as ripple effects from the war in Ukraine. The UN partner agency, in a statement, cautioned against imposing trade restrictions which would ultimately result in slower growth and lower living standards. According to the…
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The Federal Government says Ethiopia’s suspension of its “visa on arrival” to non-resident foreigners at all entry points is due to insecurity, especially regarding its current political situation. The spokesperson for the Ministry of Foreign Affairs, Mrs Francisca Omayuli, said this in a statement on Thursday in Abuja. The government, however, urged Nigerians intending to travel to Ethiopia to obtain appropriate entry visas at the country’s embassy or via an electronic visa (e-visa) through the country’s Immigration and Citizenship Service (ICS) portal at www.evisa.gov.et. “The suspension applies to nationals of all countries bearing Standard Passports, who seek entry into Ethiopia and…
President of the African Development Bank (AfDB), Dr Akinwumi Adesina has been named 2022 Man of the Year (Africa) by Exclusive Men of the Year (EMY). In a statement issued by the Communication and External Relations Department of the AfDB on Thursday, Adesina was named for his visionary leadership as the president of the bank. He was also named for his outstanding contributions to Africa during his period as agriculture minister of Nigeria. The prize was awarded to the AfDB president on Oct. 1, in Accra, Ghana. AfDB Ghana Country Manager, Eyerusalem Fasika, however, received the award on Adesina’s behalf.…
A former Inspector-General of Police, Dr. Solomon Arase, has expressed concern on how police would be able to manage the political parties as they embark on campaigns ahead of the 2023 general elections. According to Arase, now a security consultant, the setting aside of the Public Order Act, put police personnel in difficult position as they try to discharge their duties before, during and after the elections. The former Police Chief spoke on Thursday, October 6, 2022, as a panelist at the 6th annual conference of the Guild of Corporate Online Publishers, GOCOP. He noted that whereas the Public Order Act debars…
The Police Command in Oyo State says it has apprehended four suspected armed robbers and recovered 11 tricycles worth N13.2 million. SP. Adewale Osifeso, the command Police Public Relations Officer, made this known at a new conference on Thursday in Ibadan. The News Agency of Nigeria (NAN) reports that eight other suspects were also paraded by the command for offences ranging from hijack and diversion of 69 cartons of cigarettes and armed dealing. Osifeso said that one of the suspected armed robbery syndicates who specialised in snatching tricycles from members of the public, was arrested on Ogbomoso-Oyo Road as a…
The National Oil Spills Detection and Response Agency (NOSDRA) says the fire incident at two oil wells operated by Eroton Exploration and Production Limited (EEPL) in Rivers has been contained. In an update on the situation of the fire reported on Monday, Mr Idris Musa, Director-General of NOSDRA told the News Agency of Nigeria (NAN) that the fire at Akaso Wells 14 and 4T Wellhead has been put out. He however, said that the fire at the second well, Akaso Well 4 is still burning. Musa said that following the notification of the incident to the Agency, the company, officials…
The appearance of Sen. Ita Enang, on Thursday, restrained a Federal High Court, Abuja from delivering a judgment in a suit seeking an order compelling the INEC from accepting Akanimo Udofia’s name as APC governorship candidate for Akwa Ibom 2023 poll. The News Agency of Nigeria (NAN) reports that Justice Emeka Nwite had scheduled to deliver judgment today in the suit brought by a factional governorship candidate of the APC asking for an order directing the commission to publish his name as forwarded by the party to it. The suit, marked: FHC/ABJ/CS/1290/2022 which was filed by the APC and Akanimo Udofia, listed…
First Bank of Nigeria has concluded its FirstMobile Cash-out Promo with the presentation of N1,000,000 to the grand prize winner, Mrs Zainab Badmus. The presentation, which took place on Thursday in Lagos, was witnessed by representatives of the National Lottery Regulatory Organisation. The News Agency of Nigeria (NAN) reports that various prizes including, N1,000,000, N40,000, N10,000.00 cash prizes, N40,000 Airtime, LED Televisions, refrigerators, washing machines, air conditioning systems had been won in the course of the campaign that lasted three months. The grand prize of N1, 000,000 had been won by two customers who carried out a minimum of 20…
The Nigerian Exchange Ltd., (NGX) on Thursday moved 140.67 million shares worth N2.52 billion in 4,371 deals as the indices declined by 3.23 per cent. This was in contrast with 135.52 million shares valued N2.22 billion transacted in 4,041 deals on Wednesday. Guaranty Trust Holding Company (GTCO) was the most active stock accounting for 27.73 million shares worth N471.49 million. It was trailed by Sterling Bank with an account of 25.43 million shares valued at N39.04 million while Zenith Bank sold 14.4 million shares worth N276.45 million. Transcorp traded 13.21 million shares valued N13.82 million and Geregu Power transacted 4.96 million…
Scores of youths on Thursday in Ibadan, Oyo State capital staged peaceful protest against alleged illegal arrest and detention of innocent youths by the operatives of the Economic and Financial Crimes Commission (EFCC). The placard-carrying youths besieged the state Secretariat, Agodi, Ibadan, in a convoy of over 20 vehicles, while displaying banners with various inscriptions and chanted solidarity songs to express their displeasure with the conduct of the anti-graft agency. Some of the placards read: “End EFCC”; “It is unjust for EFCC to arrest innocent merely on phantom and unverified allegation” and “EFCC leave us alone”. The News Agency of…