BOGUS DEBT !!! NBS: Nigeria’s public debt increased by N6trn in one year

 

The National Bureau of Statistics (NBS) says Nigeria’s total public debt stock as of third quarter of 2020 (Q3 2020) increased by N6.01 trillion within a year.

According to the NBS report on Nigeria’s Domestic and Foreign Debt Q3 2020, Nigeria’s total public debt stock constituting of external and domestic debts, stood at N32.22 trillion ($84.57 billion) as of September 30, 2020.

This represents 22.93 percent increase when compared to N26.21 trillion recorded in the corresponding year of 2019 (September 30, 2019).

“Further disaggregation of Nigeria’s foreign debt showed that $16.74 billion of the debt was multilateral; $502.38m was bilateral (Agence Francaise de Developpment—AFD), and another $3.26 billion bilateral from the Export-Import (Exim) Bank of China, Japan International Cooperation Agency (JICA), India, and Kreditanstalt Fur Wiederaufbua (KfW Development Bank of Germany), while $11.17 billion was commercial which are Eurobonds and diaspora bonds,” NBS said.

External debt in Q3 2020 stood at N12.19 trillion, this jumped high by 47.4 percent compared to Q3 2019 (N8.27 trillion); while domestic debt accounted for N20.04 trillion in Q3 2020, which rose by 11.71 percent compared to Q3 2019 (N17.94 trillion).

Meanwhile, total domestic debt stock owed by the federal government as at September 30, 2020 increased by 13.96 percent to N15.84 trillion, while the 36 states and Federal Capital Territory (FCT) owes N4.19 trillion, an increase of 3.71 percent compared to Q3 2019 (N4.04 trillion).

The total domestic debt stock by instrument owed by the federal government includes: sukuk, green bonds, treasury bills, treasury bonds, promissory notes, bonds, and savings bonds.

- THECABLE

Amotekun sacks operative for killing 23-year-old man in Ibadan

 

The Oyo state chapter of the Western Nigeria Security Network, Amotekun, has dismissed Afolabi Kazeem, one of its operatives, for the death of Tosin Thomas, a 23-year-old resident of the state.

Kazeem was said to have fired a shot to disperse a crowd at Total filling station in Mokola axis of Ibadan, Oyo state capital, on Wednesday.

However, the shot hit Thomas who was confirmed dead after he was taken to hospital.

Commenting on the incident, Olayinka Olayanju, commandant of Amotekun in the state, said Kazeem was found guilty of acting outside the corps protocol.

He said the operative has been dismissed from the corps and handed over to the police for prosecution.

Olayanju also said George Idowu, the team leader who led the corps members to the scene of the incident, is being investigated and will be sanctioned accordingly.

“As it turned out, one of his team members, by the name Afolabi Kazeem, who felt sufficiently threatened by the crowd, which included some hoodlums armed with cutlasses and other dangerous weapons, opened fire to supposedly scare away the crowd. Unfortunately, his shot hit one Mr Tosin Thomas, 23, who was subsequently confirmed dead,” he said.

“The Corps has found that Afolabi Kazeem with Ammunition Number AM031849 acted outside the Amotekun Corps’ protocols.

“For this reason, he has been summarily dismissed from the Corps and handed over to the police for prosecution. Also, his Team, leader, George Idowu, is being thoroughly investigated and will face all necessary sanctions.”

- THECABLE

Fake COVID-19 vaccine in Nigeria – NAFDAC warns

 

The National Agency for Food and Drug Administration and Control (NAFDAC) on Friday revealed that it had received reports of the importation of fake COVID-19 vaccine into Nigeria.

NAFDAC Director General, Prof Mojisola Adeyeye, said this while addressing a virtual press conference on Friday,

The agency warned against unauthorized orders, adding that it has not received or approved any COVID-19 vaccine from manufacturers for use in the country.

“There are reports of fake vaccines in Nigeria. NAFDAC is begging the public to beware. No COVID-19 vaccines have been approved by NAFDAC. “

She warned that fake COVID-19 vaccines can cause COVID-like illnesses or other serious diseases that could kill.

“Vaccines should not be ordered by any company or corporation. The companies that manufacture the vaccines, if they are genuine companies know they have to submit their application to NAFDAC.

“NAFDAC has not gotten any application from COVID-19 vaccine manufacturers yet, therefore, no vaccines have been approved by NAFDAC,” Adeyeye said.

She warned that since the vaccines are new, the side effects must be well monitored by the agency.

“These vaccines are new, and the side effects or adverse events must be well monitored, therefore, if NAFDAC does not approve, the public should not use (them),” Adeyeye warned.

- DAILY POST

Player of the Month: Fernandes breaks Premier League record

 Manchester United midfielder, Bruno Fernandes, has become the first player ever to clinch the Premier League Player of the Month award four times in the same calendar year.

Fernandes to picked up the prize again in December.

His impressive performances have helped United go top of the table at this stage of the season for the first time since 2013.

In December, Fernandes made six appearances and netted three goals as United remained unbeaten, recording four wins.

Fernandes moved to Old Trafford from Sporting CP in January 2020 and won the award for the first time in February.

Following the COVID-19 enforced lockdown from March until May, the 26-year-old retained his award in June.

He won the award for a third time in November before retaining it last month.

His four wins bring him level with compatriot and former United attacker Cristiano Ronaldo, as well as Dennis Bergkamp, Paul Scholes, Alan Shearer, Thierry Henry, Frank Lampard and Jamie Vardy.

The award was first introduced in the third Premier League campaign and the first recipient was former USMNT manager Jugen Klinsmann in August 1994, while player with the most wins is Manchester City forward Sergio Aguero with seven.

- PM NEWS

Trump ‘refuses to pay lawyer’s fees’ after failed bid to overturn Biden’s victory

 

US President Donald Trump has reportedly refused to pay the legal fees of Rudy Giuliani, his personal lawyer.

Guiliani was a key figure in Trump’s bid to overturn the election victory of President-elect Joe Biden through the courts.

The lawyer instituted a number of cases across the US but lost them.

According to the Washington Post, Giuliani charged the president $20,000 a day.

But the relationship between Trump and the lawyer started waning after the failed bid to overturn Biden’s victory in the November poll.

“Trump has instructed aides not to pay Giuliani’s legal fees, two officials said, and has demanded that he personally approve any reimbursements for the expenses Giuliani incurred while traveling on the president’s behalf to challenge election results in key states,” the report read.

“They said Trump has privately expressed concern with some of Giuliani’s moves and did not appreciate a demand from Giuliani for $20,000 a day in fees for his work attempting to overturn the election.”

The US president is also said to be frustrated and feeling abandoned in his last days in office, according to some of his aides.

Some members of his staff have quit their jobs in response to Trump’s refusal to concede the election, as well as the recent impeachment of the president by the US house of representatives.

Trump is also reportedly annoyed that members of his inner circle have failed to defend him after he was impeached the second time.

The US president was impeached on Wednesday by members of the house of reps for over his alleged role in the Capitol Hill invasion.

The Capitol building — housing the US lawmakers — was invaded by protesters, shortly after Trump addressed his supporters and asked them to march to the house.

Five people were killed in the incident while many sustained injuries.

- THECABLE

Let Igbo go if you don’t like us – Amaechi tells Buhari govt

 Nigeria’s first minister of Aviation, Chief Mbazulike Amaechi, has asked the President Muhammadu Buhari-led government to let the Igbo go if they are no longer wanted in the country.

Amaechi, however, said he believes in one Nigeria and would like it to remain but not under current condition.

He decried the poor state of the country, saying that Nigeria has to start all over again.

The former minister and foremost nationalist spoke at a zoom meeting organized by Dele Momodu of the Ovation Magazine and Mazi Ezeoke, on Thursday.

He said that Nigeria has derailed from the original plan of the founding fathers, insisting that there is need for a new constitution where every Nigerian will be involved to speak what they want.

According to him, “I am sad. This is no longer the country we founded. This country has to start all over again.

“You can’t beat someone and ask him not to cry. If you don’t like us, let us go. I don’t want to go, I believe in one Nigeria.”

-DAILY POST

Black Friday: 14 die in Kogi motor accident

 

Fourteen people, including five children have lost their lives in a ghastly motor accident, which occurred on Anyingba -Ajaokuta road in Kogi State.

The State Sector Commander of the Federal Road Safety Corps ( FRSC), Mr Solomon Aghure, confirmed this to newsmen in Lokoja on Friday.

He said three vehicles: two trucks and a passenger bus were involved in the accident, which occurred in the evening of Jan. 14.

Aghure said the trucks belonged to a cement manufacturing company while the bus carried the inscription, Bright Mass Transit.

He said the three vehicles were travelling on the same lane towards Anyingba when a truck suddenly hit the bus from behind and the bus as a result of the impact also hit the truck in its front.

Aghure said the bus was trapped in between the two trucks with all the passengers before his men arrived at the scene to carry out a rescue operation, which lasted for hours.

He lamented that 14 out of the 23 persons involved in the accident died on the spot, while nine others sustained various degrees of injury.

According to him, those who died included three female children, two male children, eight women, and one man.

The Sector Commander further explained that three men, one woman, and five children, comprising two male children and three female children were lucky as they survived the accident with some injuries.

He said the injured were taken to Holley Memorial Hospital, Ochadamu for treatment while the corpses were deposited at the morgue of Grimard Hospital, Anyingba.

Aghure attributed the accident to possible brake failure on the part of the truck that hit the bus from behind but said further investigation would be carried out to determine its actual cause.

NAN