NEWS

Remove fuel subsidy now- World Bank urges Buhari

The World Bank has urged President Buhari to remove petroleum subsidy now as the price of crude oil has declined drastically. The position of the World Bank was made known by the bank's leader Economist, John Litwack at the launch of the new edition of Nigeria Economic Report, the World Bank’s Lead Economist.He said the best time to remove fuel subsidy is now when global crude oil price is at its lowest level, noting that the Bank foresaw continuous decline in global crude oil price. (more…)

by kenneth 0
LIFESTYLE, NEWS

Boxing heavyweight champion Tyson Fury stripped off IBF title just two weeks after winning it

Tyson Fury has been stripped off the IBF title he won two weeks ago after former title holder Wladimir Klitschko exercised a clause entitling him right to a rematch if he so deemed fit. Fury beat long-standing champion Vladimir Klitschko in Dusseldorf last month to bring the Ukrainian's four belts back to Britain. The IBF insists Fury should fight challenger Vyacheslav Glazkov and opened up a bidding process for its purse two days after Fury's victory.The bidding which was supposed to take place on December 11 has now become irrelevant after Klitschko exercised a claus

by kenneth 0
NEWS

Nobody sponsoring Boko Haram or stealing money will go unpunished- Lai Mohammed

The Minister of Information and Tourism, Lai Mohammed at a press conference in Abuja yesterday, said that no person sponsoring Boko Haram or stealing public funds will go unpunished. "The dilemma of government is how to redress the past wrong. What I want to assure you is that nobody, who is responsible for this situation either by sponsoring Boko Haram or stealing our resources, will go unpunished. That I can assure you. But we will follow due process.”he said Lai Mohammed addressed claims in some quarters that the Nigerian government was careless in the prosecution of

by kenneth 0
LIFESTYLE, NEWS

East Asia’s aging working populations could shrink 15 pct by 2040 – World Bank

Middle-to-high income economies in East Asia could lose as much as 15 percent of their working-age populations by 2040 due to rapidly greying demographics, weighing on economic growth and adding to government spending, the World Bank said on Wednesday. East Asia is aging faster than any other region in history, the bank said in a report, which found 36 percent of the world's population aged 65 and over, or 211 million people, live in the region, the largest share among all regions. "Very fast drops in fertility rates, coupled with rapid extensions of life expectan

by kenneth 0
NEWS

$2.1bn arms scandal: Dokpesi and DAAR communications, FG Files money laundering charges against them

The Federal Government has filed a six-count charge of alleged N2.1billion money laundering against the former chairman of DAAR Communications Plc owners of AIT and RayPower, Chief Raymond Dokpesi.‎ Daar Holding and Investment Limited was filed as co-defendant in the suit. Dokpesi and his company are being accused of violating the Money Laundering Act, the EFCC Act and the Public Procurement Act. (more…)

by kenneth 0
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