The ruble eased this week after the central bank scrapped a 12% commission for buying foreign currency.
Despite the interest rate cut intended to moderate the Russian ruble’s bullish momentum, the Russian currency has stabilized around the 80 dollar mark today.
At the time of writing, the rouble was little changed at 82 against the dollar, after rallying to 71 last week, which was its strongest since November 11, 2021.
The Russian central bank announced a reduction in the main rate from 20% to 17%. The Bank of Russia stated that the ruble’s rebound from steep losses in the days after the invasion on February 24 had reduced the likelihood of dramatically higher inflation.
Police, the military, and the Department of State Services…periodically acted outside civilian control
United States accuses Nigerian police, military, DSS of corruption and impunity
The United States Government has indicted the Nigeria police, military, and Department of State Services (DSS), for corruption, human rights violations, and impunity.
The Northern Elders Forum (NEF) has demanded the immediate resignation of President Muhammadu Buhari, over the incessant killings across the country, especially in the north.
NEF Director, Publicity and Advocacy , Dr. Hakeem Baba-Ahmed, made the call in a statement issued on Tuesday, 12th April.
“The administration of President Muhammadu Buhari does not appear to have answers to the challenges of security to which we are exposed.
We cannot continue to live and die under the dictates of killers, kidnappers, rapists and sundry criminal groups that have deprived us of our rights to live in peace and security.
“Our constitution has provisions for leaders to voluntarily step down if they are challenged by personal reasons or they prove incapable of leading.
The statement said, “It is now time for President Buhari to seriously consider that option, since his leadership has proved spectacularly incapable of providing security over Nigerians. Our Forum is aware of the weight of this advice, and it is also aware that we cannot continue to live under these conditions until 2023 when President Buhari’s term ends.’’
It said the forum made the recommendation with the highest sense of responsibility, and expressed hope there are enough Nigerians who enjoy the confidence of President Buhari to advise him to consider resigning.
The forum in the statement, lamented that killings and assaults on communities have now become daily features of lives of all Nigerians, as traveling anywhere is now risky, and the option of staying put does not make anyone safer.
It said, “Killers and other criminals appear to have sensed a paralyzing vacuum at the highest levels of leadership, and they grow more confident and acquire more competence in subverting the State and our security.
“Nigerians have shed enough tears and blood without appropriate response from those with responsibilities to protect us.”
The statement advised politicians aspiring to lead the nation to weigh their capacities and commitments and challenges of leadership very carefully.
The northern elder’s spokesperson said that leading Nigeria out of its current state and placing it firmly on the path of rediscovery is not an all-comers affair and that Nigerians will exercise greater levels of discretion in deciding who they can trust in future.
“There are also groups who deepen the concerns of Nigerians over the possibility of a safe and free campaigning and conduct of the 2023 elections.
Comments which threaten those parochial political demands must be met, rather than negotiated or processed through the democratic process threaten all Nigerians and hint at a wider space for violence in the run-up to the elections, and after it.
“These comments are unbecoming of elders, and they detract from the genuine and difficult search for good leaders who will be totally committed to one nation with very serious challenges.
Following an escalation of intelligence operations that followed the terrorist bombing of the Abuja-Kaduna railway track and abduction of passengers, a joint Nigerian Army and Nigerian Airforce intelligence team have intercepted a ‘huge’ amount of ransom (#60million) meant for the freedom of some captives in the custody of armed bandits in Kaduna State.
Sources said some of the couriers of the ransom payment are suspected/believed to be security personnel.
During the joint military operation undertaken by ground troops of the Nigerian Army, as well as special forces of the Nigerian Air force, many of the bandits were eliminated while some kidnapped victims including women and children were rescued.
The source said the operation which specifically involved troops of 271 NAF Detachment in Birnin Gwari, and troops of the Nigerian Army Forward Operations Base in Gwaska resulted in the rescue of dozens of kidnapped victims during the coordinated operations.
“The sum of N60,000,000 in cash, petroleum products and sophisticated weapons, were recovered during the operations.
Other items recovered by the troops from the suspects include vehicles, AK-47 rifles, magazines, various kinds of ammunition and mobile phones.
“Meanwhile, we will refer the case of the arrested couriers who mostly have identifications with security agencies to the Department of State Service (DSS) and Defence Intelligence Agency (DIA) for further investigation”, the source added.
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Gallant troops of 271 NAF DETACHMENT BIRNIN GWARI and Nigerian Army personal
Guests and Participants at at PRNigeria Media Workshop on Humanitarian Journalism in Abuja
MacArthur Foundation Supports PRNigeria on Humanitarian Journalism for Economic Development
MacArthur Foundation supports PRNigeria in its bid to advance Humanitarian Journalism for Economic Development.
The grant under the Collaborative Media Engagement for Development, Inclusion and Accountability was initiated by the Wole Soyinka Centre for Investigative Journalism (WSCIJ) to promote media independence and foster accountability and transparency, especially at sub-national levels.Mallam Yusuf Alli speaks at at PRNigeria Media Workshop on Humanitarian Journalism in Abuja
This was disclosed at a Media Workshop organised by Image Merchants Promotions Ltd (IMPR), the publishers of PRNigeria and Economic Confidential in Abuja for journalists covering security and the economy.
The Editor-in-Chief of PRNigeria, Mr. Yushau Shuaib said that WSCIJ is partnering with 26 organisations to lend uniqueness to collaborative media engagement.
“We at PRNigeria will focus on Sub National Investigative Reporting on Economic sustainability and Security Project (SNIRESS) for positive impact.
“With a background in Public Relations and Fact-Checking, our brand of journalism is anchored on responsible reporting by exposing inactions for timely reactions to influence positive actions by government and other relevant stakeholders.”Alhaji Ismail Sani of Wonderland TV WTV speaks at PRNigeria Media Workshop on Humanitarian Journalism in Abuja
“Apart from investigative journalism, like this workshop, we will continue to organise capacity building on economic and security reporting for media professionals as well as post-training mentorship.”
Also speaking at the event, the Head, Northern Operations of the Nation Newspaper, Mallam Yusuf Alli, a seasoned communication scholar, Dr Suleiman Yau’ Sule and veteran economic and journalist, Mr. Ewache Ajaefu decried the low-level Nigerian journalists engage in investigative reporting.
According to them, investigative reports have since become the ‘missing gap’ in Nigerian journalism.Guests and Participants at at PRNigeria Media Workshop on Humanitarian Journalism in Abuja
Mallam Alli expressed dismay over the worrisome trend of several media professionals and journalists in the country, running away from investigative journalism.
He noted that investigative stories can be done by journalists of every kind of beat. He, therefore, commended PRNigeria for championing reports on Fact-checking on fake news, in recent times.
Alli, an ace investigative editor, urged participants at the workshop to be passionate about building their media careers around investigative journalism.
He said: “Build a vast network of sources that will always serve as your contacts. Again, it is imperative you protect your sources,” he said.Guests and Participants at at PRNigeria Media Workshop on Humanitarian Journalism in Abuja
In his lecture titled, “Humanitarian Journalism: A Panacea for Conflict Prone Area,” Dr. Sule, a senior lecturer at the Bayero University Kano disclosed that amid several crises troubling Nigeria many local journalists pay less attention to practising humanitarian journalism, as a panacea to the nation’s socio-economic woes.
According to him, by engaging in humanitarian journalism, Nigerian reporters and media practitioners will be exploring certain things that affect citizens and the larger society.
He explained that humanitarian journalists are also ‘crisis reporters’.
“As humanitarian journalists, try to understand what can trigger crises. And then engage in reportage that can douse social tension or upheavals,” the lecturer who also is the Chairman of the Board of IMPR said.
A revered broadcaster and media mogul, Alhaji Ismail Sani, stressed the need for young reporters to upskill themselves in various aspects of broadcast journalism.
While speaking on Broadcast Journalism, Sani who is the Managing Director of both Wonderland TV and Platinum FM, promised to offer free training on camera handling techniques and other aspects of the electronic media to the participants.
Mr. Ajaefu who is the Editor-in-Chief of Business International Digest urged participants at the workshop to develop an interest in economic reporting which he said had a direct impact on the well-being of society.
Dattijo, who was at the Luggard Hall to declare his intention, while appreciating the state lawmakers for advancing the cause of Kaduna State by giving government reform efforts the required legislative support, said that it is imperative that the progress and achievements of the APC in the last seven years are not reversed or derailed.
The Commissioner for Budget and Planning said that his interest in the 2023 governorship election is fuelled by the desire to guarantee continuity in governance, especially in the area of evolving development in the State.
“The journey of progress started by Governor El-rufai is one we must sustain since governance is a never-ending process.
“We must secure all that His Excellency has been able to achieve under the platform of the APC as a reform-minded political party.
“As we gradually come close to the end of the trailblazing administration of Gov. El-rufai, our immediate task is to ensure that the progress and achievements of the APC in the last seven years are not reversed or derailed.
“I believe that only continuity will guarantee that Kaduna will match forward with the determined leadership it has witnessed under the APC,” he told the lawmakers.
The former Chief of Staff to Gov. El-Rufai said he has been privileged to learn from the governor and understudy the thinking behind every policy intervention and decision of the APC government.
He stressed that he is putting himself forward based on the need to ensure the continuity of excellent performance witnessed in the last seven years.
While soliciting the support of the lawmakers for his candidacy, Dattijo said he is willing to abide by the decision of the governor and the leadership of the party.
“The world is changing and Kaduna needs to innovate on the existing reforms of our leader to make our state work for everyone synthesizing on the gains of building a self-sufficient, secured technology capital in Northern Nigeria.
“The choice we have to make in the upcoming elections will determine the trajectory of our dear State, not just for our generation but for the generation after us,” he added.
Dattijo was recently appointed an associate and founding member of Dunning Africa Center by the prestigious Henley Business School, University of Reading, United Kingdom.
Kaduna state government has declared 24 hours curfew in Jema’a and Kaura local government areas of the state to enable security agencies restore law and order as well as bring an end to the killings and reprisals taking place there.
A terse statement signed by the state Commissioner for Internal Security and Home Affairs, Samuel Aruwan, on Monday urged residents to adhere to the curfew while giving security agencies full authority to enforce the curfew.
“Following advice from security agencies, the Kaduna state government has declared a 24-hour curfew in Jema’a and Kaura local government areas with immediate effect.
“This is to assist the security agencies to stabilize the situation in the areas, save lives and property and enable the restoration of law and order.
“A statement from the Ministry of Internal Security and Home Affairs said that that security agencies have full authorization to enforce the curfew.
“Government appeals to all residents of Jema’a and Kaura local government areas to cooperate with the security agencies in the urgent task of restoring peace and upholding law and order.
“Government condemns the violence and all acts of lawlessness that have occurred in the area. Further updates will be issued as necessary,” Aruwan said.
Image caption,Kinzhal missiles have been fitted to Russian MiG-31K fighter jets, as shown in this defence ministry handout
Russia’s military has fired a hypersonic ballistic missile and destroyed a big underground arms depot in western Ukraine, the defence ministry in Moscow has said.
If confirmed it would be Russia’s first use in this war of the Kinzhal, or Dagger, ballistic missile launched from the air, most likely by a MiG-31 warplane.
What are hypersonic missiles?
President Vladimir Putin has repeatedly highlighted Russia’s investment in hypersonic missiles, which can travel at more than five times the speed of sound, or Mach 5.
The statistics are impressive: according to Russian officials the Kinzhal can hit a target up to 2,000km (1,240 miles) away and can fly faster than 6,000 km/h. But does that make them any more dangerous than other missiles or even artillery which can cause just as much death and destruction?
“I don’t view it as that significant,” says James Acton, nuclear policy specialist at the Carnegie Endowment for International Peace. “I don’t know how much of an advantage Russia is getting from using hypersonic missiles.”
Amid Round 4 of peace talks between Russia and Ukraine, on Monday, the Diplomatic Adviser to the President of Ukraine, Ihor Ivanovych Zhovkva, has hinted that Ukraine is willing to maintain a neutral status if that will bring an end to the ongoing war.
In a live interview with Republic TV, Zhovkva said Ukraine would not join NATO member states or the European bloc provided that its neighbours, including Russia, could guarantee the security of the country and its people.
Asked about what his country looked forward to from the various peace talks and negotiations, Zhovkva said Ukraine was not interested in NATO membership. He noted that there was no basis for the war, because all that his country wanted was the security of its people.
He, however, gave conditions for fruitful negotiations with Russia.
Zhovkva stated that there must be full ceasefire for any peace talks to be productive.
He also said the invading Russian troops must be withdrawn.
Zhovkva added that there must also be assurances that there would be new peace and security guarantees for his country from neighbouring countries as well as other major countries, because “Russia can no longer be trusted.”
Asked if Ukraine was willing to let Crimea and Donbas go as independent nations, Zhovkva stated that both regions were part of Ukraine and his country would not give up an inch of its territory.
The defunct Nigeria National Petroleum Corporation (NNPC) now NNPC Limited failed to account for about 107,239,436 barrels of crude oil lifted for domestic consumption in 2019, the report of the Auditor-General for the Federation has indicated.
It also stated that records from performance report of two depots indicated that about 22,929.84 litres of PMS worth N7.06 billion pumped to the two depots (Ibadan-Ilorin and Aba-Enugu) between June and July 2019 were not received by them.
The revelation forms part of six audit queries from the Auditor-General for the Federation contained in the Federal Government’s Consolidated Financial Statements for the year ended December 31, 2019 submitted to the Clerk to the National Assembly via a letter dated August 18, last year and signed by the Auditor-General, Adolphus Aghughu.
The report identified discrepancies between the amount reported by the NNPC as transfer to the Federation Account and what was reported by the Accountant-General of the Federation.
It said while the NNPC records showed that N1,272,606,864,000 was transferred by the corporation, the amount recorded by the Accountant-General of the Federation was N608,710,292,773.44, showing a discrepancy of N663,896,567,227.58.
THe AuGF said the Group Managing Director of the NNPC should be asked to explain the discrepancy between the two figures and remit the balance of N663,896,567,227.58 to the Federation Account or face sanction.
The report also said N519,922,433,918.46 was transferred to the Federation Account by the NNPC based on transfer mandates, while demanding that the company provide “reconciliation statement for the difference of N88,787,862,853.96 between AGF’s figure of N608,710,296,772.42 and NNPC’s figure per transfer mandate ofN519,922,433,918.46”.
It said: “Audit observed that 107,239,436.00 barrels of crude oil were lifted as domestic crude, while allocation of crude oil to refineries for a billing date of January 9 to May 29, 2019 was 2,764,267.00 bbls valued at N55,891,009,960.63.”
It said further: “Information on Sale of Un-Utilised Crude oil by Refineries for 2019 was not provided, and information on crude oil allocations from 30th May 30 to December 31, 2019 was not provided for scrutiny.
While alleging possible diversion of domestic crude, diversion of sale of un-utilised crude as well as possible loss of Federation Account revenue, the report said the management of the NNPC failed to respond to the audit query.
The report said: “the Group Managing Director of NNPC is requested to peovide the complete schedule of allocation of Crude Oil to Refineries from 1st January to 31st December, 2019, Furnish details of sale of un-utilized crude oil and reconcile it with total domestic crude oil of 107,239,436.00 bbls lifted in 2019 and remit amount realised from sale of un-utilized crude oil to the Federation Account.”
The report said further that section 162(1) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) states “The Federation shall maintain a special account to be called “the Federation Account” into which shall be paid all revenues collected by the Government of the Federation, except the proceeds of the personal income tax of the personnel of the armed forces of the Federation, the Nigeria Police Force, the Ministry or department charged with the responsibility of Foreign Affairs and the residents of the Federal Capital Territory, Abuja”.
It said in spite of this provisions, the NNPC spent US$6.410 million, (=N1.955 trillion at N305/US$1) to fund Joint Venture Cash Calls (JVCC) and other federally funded upstream projects such as Gas Infrastructure Development, Brass LNG, Crude Oil PreExport Inspection Agency Expenses, Frontier Exploration Services, EGTL Operating Expenses and NESS Fee and another N55.157billion on Pipeline Security and Maintenance without first paying the money into to the federations account.
The AuGF said the Group Managing Director of NNPC should justify non adherence to the transfer of all federation revenue to the federation account as provided by the Constitution and ensure that all revenue is paid into the federation account going forward.
The report also said that “the Audit examination on ‘Schedule of Inflow of Revenue’ by NNPC to Federation
Account obtained from the Office of the Accountant General of the Federation revealed that the Domestic Gas Receipts of N4.572 billion was transferred to Federal Inland Revenue Service (FIRS) Petroleum Profit Tax (PPT)-Gas in the month of January 2019, and was not made in the subsequent months of the year.
“This transfer reduced the amount due to Federation Account for the month of January, 2019 to the tune of N4.572 billion” leading to possible “reduction of distributable revenue in the Federation account, misapplication of fund and diversion of revenue”.
It said that about 22,929.84 litres of PMS valued N7,056,137,180.00 pumped to two depots in the country in 2019 were not received by the depots while no reason was advanced by the agency for the non-receipt of the product, demanding that the value of the products be remitted to the Federation Account.
It said further that a total 239,800 bbls of crude oil valued at N5.498 billion was received in Warri and Kaduna refineries respectively between January and December 2019 with the source of the crude not validated due to absence of source documents, while money was allegedly classified as crude oil losses without duely completed form 146 to be processed for further investigation.
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