ALL THE RELEVANT NEWS : Tuesday

24 Nov ALL THE RELEVANT NEWS : Tuesday

🌍Following political developments in the US, South Korea may have decided to withdraw its trade minister, Yoo Myung-hee, from the race for the World Trade Organisation (WTO) Director General. The Washington Trade Daily (WTD) quoted people familiar with the development to have disclosed South Korea was expected to announce its decision to withdraw Myung-hee in the coming days. However, the mainstream media is yet to pick the story.

🌍Oil Monitor: By 0744 GMT, Brent crude futures were up 45 cents, or 1%, to $46.51 a barrel, their highest levels since March as news of a third promising vaccine candidate spurred hopes of a quick recovery in oil demand, while U.S. President-elect Joe Biden received the go-ahead to begin his presidential transition.

🌍President Donald Trump has accepted a formal US transition should begin for President-elect Joe Biden to take office; says the General Services Administration the agency overseeing the handover, must “do what needs to be done.

🌍At Nigerian Economic Summit: President Buhari, represented by VP Osinbajo, said FG, through the 2020 Finance Bill, is proposing the exemption of minimum wage earners from paying personal income tax
* Finance Minister Zainab Ahmed has projected the country will emerge from the recession in the fourth quarter 2020 or by the first quarter of 2021.

🌍The Corporate Affairs Commission (CAC) says it will begin the implementation of Companies and Allied Matters Act (CAMA) on January 1, 2021.

🌍COVID-19 Updates: The Presidential Task Force (PTF) on COVID-19 has advised Nigerians to suspend their Christmas and New Year travels to limit the risk of contracting the virus; worries that passengers shun post arrival COVID-19 tests and provide fake test results.
* Yesterday, 56 new cases and one death were reported in Nigeria. The new numbers are 66,439 confirmed case; 62,241 recoveries and 1,168 deaths.

🌍Minister of State Sylva says subsidy in the pricing of petroleum products has not been fully removed because there is still some form of subsidy at the foreign exchange component of the pricing regime.

🌍FIRS collected N4.178 trillion in the first 10 months of 2020, according to its executive Chairman, Muhammad Nami.

🌍Fueled by speculation, the naira exchanged to the dollar for 483 in the parallel market on Monday.

🌍Nigeria imported 55.47% of cooking gas, known as Liquefied Petroleum Gas (LPG), consumed in October 2020, with the remaining 44.53% sourced and supplied locally.

🌍IGP Adamu, yesterday approved the promotion of 82,779 junior police officers to their next ranks.

🌍Buhari has approved the immediate reinstatement of Maryam Danna, a whistleblower, who was wrongfully retired in 2016 by the Federal Government. (13) Federal Government, on Monday, wrote to ask CNN to reexamine its report on the Lekki shootings. But the Network has been reporting its story was correct.

🌍Former Minister of Finance, Olu Falae, has complained again about fresh attacks by herdsmen on his farm in Akure, the Ondo State.

🌍A Federal High Court has ordered Senator Ali Ndume to be remanded at Kuje Correctional Centre for failing to produce the former Chairman of the defunct Pension Task Team, Abdulrasheed Maina.

🌍New Trump rule may require some African tourists to pay up to $15,000 in bonds.

🌍United Kingdom parliamentarians yesterday recommended sanctions against government officials and security agents who abused the rights of #EndSARS demonstrators last month.