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A medical worker wearing personal protective equipment (PPE) takes a swab sample from a man, as South Africa starts to relax some aspects of a stringent nationwide coronavirus disease (COVID-19) lockdown in Diepsloot near Johannesburg, South Africa, May 8, 2020. REUTERS/Siphiwe Sibeko/File Photo

OECD: South Africa economy could contract 8.2% if second coronavirus wave hits

South Africa’s economy could contract 8.2% this year, and grow just 0.6% in 2021, if a second wave of COVID-19 cases hits the country and its main trading partners, the OECD said on Friday.
A man is silhouetted against the logo of the World Bank at the main venue for the International Monetary Fund (IMF) and World Bank annual meeting in Tokyo. REUTERS-Kim Kyung-Hoon

World Bank gives Kenya $43 million more for fight against coronavirus

The World Bank has released a second tranche of Sh4.6 billion ($43 million) for counties to use in strengthening devolution as they race against time to secure 300 beds for Covid-19 patients.
Finance minister Tito Mboweni is expected to unveil an emergency budget with major changes to spending and revenue forecasts in parliament on Wednesday.

New Development Bank provides South Africa with $1 billion coronavirus loan

The New Development Bank established by the BRICS group of emerging nations has approved a $1 billion COVID-19 emergency loan to South Africa to help reduce the socio-economic impacts of the pandemic, the National Treasury said on Saturday.

Akwa Ibom elders accuse President Buhari of corruption, nepotist

Akwa Ibom leaders, under the umbrella body of Akwa Ibom Leaders Vanguard, on Monday blasted President Muhammadu Buhari over alleged perceived corruption, nepotism and frequent abuse of constitution in his government.
South African President Cyril Ramaphosa visits the coronavirus disease (COVID-19) treatment facilities at the NASREC Expo Centre in Johannesburg, South Africa April 24, 2020. Jerome Delay-Pool via REUTERS-File Photo

South Africa leader faces thorny test over virus lockdown

Admired by some but berated by others for imposing a tight lockdown, South African President Cyril Ramaphosa faces a fresh leadership test over his handling of the coronavirus outbreak.
Electricity pylons are seen along the cooling tower of the defunct Orlando Power Station in Soweto, South Africa, June 28, 2018. REUTERS-Siphiwe Sibeko

South African state asset manager proposes converting Eskom bonds into equity – chairman

South African state asset manager the Public Investment Corporation (PIC) has submitted a proposal to government on converting bonds it holds in struggling state utility Eskom into equity, PIC chairman Reuel Khoza told Reuters in an interview.
South African Finance Minister Tito Mboweni gestures as he delivers his budget speech at the parliament in Cape Town, South Africa, February 26, 2020. Reuters-Sumaya Hisham

South Africa’s treasury schedules June 24 for coronavirus budget

South Africa’s National Treasury on Wednesday said it would table a new budget on June 24 to ratify plans for a 500 billion rand ($27 billion) stimulus package aimed at easing the economic impact of the coronavirus outbreak.
South African President Cyril Ramaphosa visits the coronavirus disease (COVID-19) treatment facilities at the NASREC Expo Centre in Johannesburg, South Africa April 24, 2020. Jerome Delay-Pool via REUTERS-File Photo

South Africa ups weekly debt auctions by $109 mln to cover coronavirus stimulus

South Africa will increase the amount of debt on sale at its weekly auctions by nearly 2 billion rand ($109 million) to cover a budget deficit set to increase sharply due to the coronavirus stimulus package announced by President Cyril Ramaphosa.
Mine workers are seen under ground at the end of their shift at Cullinan mine, near Pretoria, South Africa, February 1, 2019. REUTERS-Siphiwe Sibeko-File Photo

Coronavirus lockdown pushes South African PMI to record low in April

South African private sector activity fell to a new record low in April, a business survey showed on Wednesday, as company closures due to a nationwide coronavirus lockdown led to a collapse in demand.
Dondo Mogajane, director general of the National Treasury, said in an interview with eNCA television on Sunday that South Africa “will certainly go” for the IMF funding.

Official: South Africa seeking $5 billion from multilateral lenders to fight virus

South Africa is seeking 95 billion rand ($4.99 billion) from multilateral lenders to help it fight the COVID-19 pandemic, a senior Treasury official said on Sunday.

N20,000 cash to poor Nigerians, another charade – PDP chieftain

Former Delta State governorship aspirant, Chief Sunny Onuesoke, yesterday, described the N20,000 palliative being reportedly paid to poor Nigerians by the President Muhammadu Buhari led Federal Government as another charade aimed at looting the country’s treasure at a critical time when the world was battling to contain the spread of dreaded coronavirus pandemic.
Customers get a haircut ahead of a nationwide 21-day lockdown in an attempt to contain the coronavirus disease (COVID-19) outbreak in Waterfall, South Africa, March 26, 2020. REUTERS-Rogan Ward

South Africa announces tax relief for business hit by virus

South Africa’s National Treasury said on Sunday it was introducing a new tax subsidy of 500 rand ($28) per month for each worker to employers for the next four months to cushion financial losses suffered by firms due to the coronavirus.
Senate Minority Leader Enyinnaya Abaribe has called on President Muhammadu Buhari to resign over what he regards as the inability of the All Progressives Congress (APC) led Federal Government to address the security challenges in the country.

Labour Party: Senator Abaribe, PDP financing insecurity in Nigeria

The Labour Party in Ogun State has accused the Senate Minority Leader, Senator Enyinnaya Abaribe, of being “a major component of the engine growing and sustaining national insecurity.”
The second edition of the Africa Investment Forum, organised by the African Development Bank, began today in Johannesburg, South Africa. It will end on 13 November.

Africa Investment Forum opens in Johannesburg today

The second edition of the Africa Investment Forum, organised by the African Development Bank, began today in Johannesburg, South Africa. It will end on 13 November.
Patrick Ifeanyi Ubah

Senate to probe seven oil firms over $21 billion unmerited funds

The Senate has mandated three of its committees to investigate seven international oil companies over their alleged refusal to remit about $21 billion to the national treasury.
Kola Ologbondiyan

PDP: APC must answer for failures, unrestrained looting

The Peoples Democratic Party, PDP, has said the ruling All Progressives Congress, APC, must answer for what it’s “failures, depravities and unrestrained looting” of the nation’s treasury in the last four years.

Ex-General seeks probe of $2.1 billion recovered from Abuja home

A retired General of the Nigerian Army, Adamu Yusuf, on Tuesday requested an investigation into the circumstances following the recovery of about $2.1bn and other assets by some security officials from a residence allegedly linked to a former public officer in Abuja.
President Buhari participates at the signing of 2nd National Peace Accord in Abuja on 13th Feb 2019-6

Buhari vs Atiku: The inconvenient truth

One foreign newspaper said Nigerians have to choose between a former dictator and an alleged kleptocrat. Another one, The Guardian of London, was not so diplomatic. It said Nigerians have to decide between “a stingy rightwing dictator and an established thief.”

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The Nigerian Ports Authority (NPA) says it has come up with solutions to reduce the waiting time of vessels berthing at Lagos terminals.

Nigerian seaports to commence 24-hour operation

Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh, disclosed this on Tuesday in Lagos while briefing the media after the second edition of the monthly meeting of heads of maritime parastatals, held at the NIMASA headquarters.

China achieves progress in battle against cyber crimes – report

China said it has made headway in cracking down on illegal online businesses, said a report on the country’s cybersecurity in 2019.
Kaduna State Ministry of Health on Saturday confirmed that a four-month-old child was among the 20 new coronavirus cases recorded in the state on Friday.

Kwara records eight new cases of coronavirus

Kwara has recorded eight new cases of the coronavirus (COVID-19) pandemic as at 11.45p.m on Monday, Aug 10.

Obadiah Mailafia: Serving northern governor a Boko Haram leader

Dr. Obadiah Mailafia, a former Deputy Governor of the Central Bank of Nigeria, says repentant terrorists revealed that a serving northern governor is a Boko Haram leader. Mailafia said this on ‘Morning Crossfire’ programme on Nigeria Info Abuja 95.1FM on Monday.