ALL THE RELEVANT NEWS: WEDNESDAY

13 Sep ALL THE RELEVANT NEWS: WEDNESDAY

🌎The Central Bank of Nigeria, CBN, has ordered banks to save gains from foreign exchange (FX) revaluation as a buffer against emerging economic shocks. Consequently, the CBN stopped banks from using FX revaluation gains to pay dividends or meet operating expenses.

🌎 President Bola Tinubu has returned to Abuja from the United Arab Emirates (UAE), where he stopped over after attending the G20 summit in New Delhi, India. He arrived at the Presidential Wing of the Nnamdi Azikiwe International Airport on Tuesday night

🌎Oil rose on Wednesday, firming its ground near a 10-month peak reached during trading a day earlier, as the market balanced supply concerns over Libya output and OPEC+ cuts with global macroeconomic headwinds. Benchmark Brent futures edged higher by 8 cents, or 0.1%, to $92.14 a barrel by 0630 GMT

🌎Vice President Kashim Shettima, on Tuesday night, departed Abuja to represent President Bola Ahmed Tinubu at the G77+China Leaders’ Summit in Havana, Cuba.

🌎The Minister of Works, David Umahi, has said he will review all projects that require additional funding, noting that the federal government needs to know why such projects need augmentation.

🌎President Bola Tinubu has called for a thorough and comprehensive investigation into the recurring tragedy of fatal boat incidents across the nation.

🌎The Presidency on Tuesday said Nigerian cabinet officials and their Emirati counterparts will soon finalise the terms of Monday’s visa ban lift. Presidential Adviser on Media and Publicity, Ajuri Ngelale, revealed this to State House Correspondents on Tuesday.

🌎United Bank for Africa’s profit after tax appreciated by 438 percent in the first half of 2023 to N378.24bn, from N70.34bn in the corresponding period of 2022. The group’s gross revenue rose by 164 percent to N981.78bn as of June 2023 from N372.36bn recorded in June 2022.

🌎The World Health Organisation (WHO) on Monday said malaria death rates in Nigeria dropped by 55 per cent between years 2000 and 2021. The WHO Regional Director for Africa, Matshidiso Moeti, who made this known during the launch of the 2022 Nigeria Malaria Report in Abuja, said incidence recorded from malaria also dropped by 26 per cent within the same period.

🌎The acting Comptroller-General of the Nigeria Customs Service, Adewale Adeniyi, on Tuesday, announced that Nigerian importers would soon be able to clear their goods from the ports in Cotonou, Benin Republic. He disclosed this in Abuja at the end of a two-day working visit by the director-general and senior officials of the customs service of Benin Republic.

🌎Femi Otedola, the billionaire businessman, has applauded President Bola Tinubu for resolving the United Arab Emirates (UAE) visa ban on Nigerians. Since 2021, UAE and Nigeria have been engaging in a diplomatic row over issues involving flight allocations and travel bans

🌎The Federal Government has inaugurated freight services on the Apapa-Ibadan cargo rail in Lagos. Minister of Transportation, Saidu Alkali, inaugurated the first cargo movement from the Lagos-Ibadan rail corridor during his first official tour of the rail corridor.

🌎Telecom operator, MTN has secured approval for additional 10MHz spectrum in the 2.6GHz spectrum band which will see the telco deepen broadband across the 36 States of the federation, including the FCT.

🌎Security Stories: Operatives of the Adamawa State Police Command have trailed and dislodged some gangs of suspected criminals, killing two in the process.

🌎Russia-Ukraine War: President Vladimir Putin said his country would help North Korea launch satellites and North Korean leader Kim Jong Un said Moscow had his full backing in its fight with the West as they met in Russia. Shortly before the summit, North Korea launched two short-range ballistic missiles. The two leaders had arrived at a remote space center in Russia’s Far East, ahead of expected arms talks that could see Pyongyang provide weapons for Moscow to use against Ukraine.

*At an economic forum Tuesday, Putin addressed conditions for peace negotiations with Kyiv and Russia’s alleged swelling troop numbers.

*Ukraine launched a missile attack on the Crimean city of Sevastopol, a major base for the Russian Black Sea fleet, early Wednesday, the Moscow-backed governor said.