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Senate to Buhari: Reconstitute the Board of the Central Bank

Senate to Buhari: Reconstitute the Board of the Central Bank

As part of resolutions to get out of the current economic recession, the senate yesterday advised President Buhari to reconstitute the board of the Central Bank of Nigeria. The senate also advised President Buhari to appoint a Special Adviser that would negotiate with militants in the Niger Delta.

Read the full resolutions as shared by Senate President Bukola Saraki after the cut…
1. The executive should forward an Economic Stimulus Bill containing all the fiscal stimulus packages, investments and incentives which will receive accelerated consideration and passage at the National Assembly.
2. The fiscal and monetary authorities must harmonise all policies that lower interest rates for investors in the real sector and small/medium scale farmers.
3. The government should adopt peaceful means in the Niger Delta to restore Nigeria’s oil production back to 2.2 million barrels per day.
4. The release of low interest funding under the stimulus package should be targeted at the following areas.
Social Safety Programmes
Humanitarian Activities in the North East
Power Generation
Agricultural value chain
Textile manufacturing
National highway network construction and maintenance
Railway construction and maintenance
Motor vehicle assembly plants
Completion and commissioning of Ajaokuta Steel Complex
Arts, Science and Technology
5. The President should appoint a Senior Special Adviser to lead the government engagement with the aggrieved Niger Delta Militants to ensure the protection of Nigeria’s oil and gas assets.
6. The Federal Government should negotiate foreign concessionary borrowing agreements to cover shortfalls in the 2016 budget and the government’s accelerated infrastructural development programme.
7. The Federal Government should restrict and cap the issuance of bonds and treasury bills in order not to crowd-out local investors from the market.
8. The Federal Government should ensure the payment of all genuine domestic debts owed to local contractors who have completed their jobs.
9. The Federal Government should settle all salaries and pension liabilities.
10. The Federal Government should leverage the use of pension and insurance funds to provide long-term capital on lending for agriculture, industry and housing projects.
11. The Executive should reconstitute the Board of the Central Bank of Nigeria (CBN) and all other critical agencies in order to ensure that they operate in accordance to their enabling laws.
12. The Legislature (through law) and the Executive (through policies) must take action to encourage telecommunications companies to float their shares in Nigeria’s stock market.
13. The Fiscal Responsibility Act should be used to encourage States and Local Govenrments to be more prudent and accountable in their revenue and expenditure agreements.
14. Cases involving unaccounted oil exports should be pursued vigorously to logical conclusions.
15. The Federal Government should immediately set-up an ad-hoc committee for the reconstruction of the North-East and the rehabilitation and resettlement of all Internally Displaced Persons.
16. The President should consider establishing a Council of Economic Advisers made up of experts in economic management.
17. The Federal Government should establish a platform for pro-business-oriented leadership-level engagement to boost market confidence.
18. The Federal Government should retool its export promotion policy scheme with export incentives like the Export Expansion Grant (EEG) and the export financing initiatives.
19. The National Assembly will institute a legislative framework with timelines for key government policies in the area of agriculture and solid minerals to boost investor confidence in government – and to protect investors from rapid policy reversals.
The National Assembly will examine, prioritise and fast-track the consideration of the following bills to revive Nigeria’s economy:
Petroleum Industry Bill
National Development Bank of Nigeria (Establishment) Bill
Nigerian Ports and Habours Authority Act (Amendment) Bill
National Road Fund (Establishment) Bill
National Transport Commission Act of 2001
Warehouse Receipts Act (Amendment) Bill
Companies and Allied Matters Act (CAMA)
Investment and Securities Act (ISA)
Customs and Excise Management Act
Federal Competition Bill
National Road Authority Bill
20. The National Assembly will immediately commence sustained oversight to monitor the activities of the Executive in the implementation of the 2016 Budget.
21. The National Assembly will continue to engage the Executive to create the necessary synergy on all economic and social interventions that are capable of bringing succour to Nigeria.

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Donald Trump Agrees to meet Kim Jong Un

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Donald Trump Agrees to meet Kim Jong Un

Donald Trump Agrees to meet Kim Jong Un

The United States President Donald Trump has agreed to meet with North Korean leader Kim Jong Un, the White House announced, setting the scene for a historic, unprecedented encounter.

The meeting, which would be the first between a sitting US president and a North Korean leader, will happen by May, according to South Korea’s national security adviser, Chung Eui-yong, who delivered the invitation to Trump after a visit by his delegation to Pyongyang earlier this week.
The stunning announcement is the culmination of a diplomatic whirlwind that began with the invitation of a North Korean delegation to the Winter Olympics in Pyeongchang. Trump’s decision to meet Kim, after a year in which the two have repeatedly traded insults, is a remarkable breakthrough — albeit one with uncertain consequences.

The South Korean delegation, which landed in Washington, D.C. for a debriefing Thursday on the North-South talks, was careful to praise Trump’s influence over the developments. Chung said the US President’s “leadership” and his administration’s pressure on the North Korean regime had “brought us to this juncture.”

White House press secretary Sarah Sanders said in a statement that Trump “greatly appreciates the nice words” of the delegation and South Korean President Moon Jae-in.
“He will accept the invitation to meet with Kim Jong Un at a place and time to be determined. We look forward to the denuclearization of North Korea. In the meantime, all sanctions and maximum pressure must remain.”

There are many details to be ironed out before the meeting could take place, including the location. The Panmunjom truce village in the Korean Demilitarized Zone (DMZ), one possible venue, hosted meetings between North and South Korea in the run-up to the Winter Olympics.

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Nokia 7 Plus Sold Out In 5 Minutes In China

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Nokia 7 Plus Sold Out In 5 Minutes In China

Nokia 7 Plus Sold Out In 5 Minutes In China

The first batch of Nokia 7 Plus  releases in China has reportedly sold out in 5 minutes. Can I imagine ?

As soon as the virtual shop doors opened at 10:07am, it took only 5 minutes for all available units of the new Nokia phone to be sold out.

The phone sold for CNY 2,300 for the 4GB/64GB version and CNY 2,500 for the 6GB/64GB version (that’s €239 and €318 respectively).

There will be another batch available in about a week – on March 15 at 10:07am. Chances are that the new batch will be gone just as quickly. Of course, neither HMD nor the stores will say how many phones are in a batch.

As for people not in China, we’ll have to wait until April. The Nokia 7 plus is set to cost €400 in Europe (and it doesn’t look like the Old Continent will get the 6GB RAM version).

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King Mohammed VI of Morocco undergoes Successful Heart Surgery in France

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 King Mohammed VI of Morocco undergoes Successful Heart Surgery in France

King Mohammed VI of Morocco undergoes Successful Heart Surgery in France

King Mohammed VI of Morocco yesterday underwent a successful heart surgery in France, state news agency MAP reports.

The 54-year old monarch was treated at a Ambroise Paré Clinic in Paris after he had been diagnosed with an “atrial flutter”. The surgery normalised the heart rhythm, and the king would be able to resume his duties without any restrictions.

The photo of King Mohammed VI on the hospital bed, surrounded by relations has since leaked on the internet. A full statement from MAP read:

“HM the king had on Saturday 20th January 2018 a heart rhythm disorder. The doctors of HM the King said that medical examinations carried out for this purpose revealed an atrial flutter. The ablation by radio frequency of this arrhythmia, performed today at the Ambroise Paré clinic in Paris, allowed the normalization of the heart rhythm. At the end of a rest period as prescribed by his treating physicians, HM the King will resume his normal activities without any restriction.”

King Mohammed VI of Morocco undergoes Successful Heart Surgery in France

Statement by the medical team composed of: Dr Abdelaziz Maouni, Dr Olivier Thomas, Dr Sébastien Bloc, Dr Olivier Dubourg, Dr Ali Chaib, Dr Lahcen Belyamani. The king, who heads the Muslim world’s longest-serving dynasty, took office in 1999 after his father, Hassan II, died of a heart attack.

The political and social stability of Morocco is closely watched by Western governments as it is the only country in North Africa where jihadist groups have failed to gain a foothold, and is an important partner against Islamist militancy in terms of intelligence-sharing.

The kingdom has escaped mass uprisings such as in Egypt, Libya or other Arab countries, but protests have erupted since 2016 in some rural areas against poverty and unemployment. Morocco has averted previous protests with a combination of limited constitutional reforms, heavy policing and hefty public spending.

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