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November 19, 2021

November 19, 2021 IFMNEWS

President Buhari Okays N656.11bn Fresh Bailout For 36 States

President Muhammadu Buhari has approved a fresh N656.112billion Bridge Financing Facility to the 36 States.

This was disclosed at the National Economic Council (NEC) meeting presided over by Vice President Yemi Osinbajo.

The vice president’s spokesman, Laolu Akande, in a statement issued after the meeting, said each state would receive N18.225billion with a 30-year tenor, and a 2-year moratorium at an interest rate of 9%.

He said the facility was to help the states afford the repayment of previous bailout facilities guaranteed for them by the Federal Government.

He said the Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed, informed the council that the Bridge Facility is now being processed by the Central Bank of Nigeria (CBN).

Akande said the approved bridge facility of N656.112billion would be disbursed in six tranches over a period of six months to the States.

November 19, 2021

November 19, 2021 IFMNEWS

Train Passengers Stranded, NRC Loses Millions As Unions Strike

The three-day warning strike embarked upon by workers of the Nigerian Railway Corporation (NRC) has grounded train services across the country.

Passengers for the Abuja-Kaduna train services; Lagos-Ibadan, among others, were stranded on Thursday as railway unions down tools to press home their demands for improved welfare.

The Nigerian Union of Railway Workers (NUR) and the Senior Staff Association (SSA) had jointly issued a statement saying the warning strike, which commenced yesterday will end on Saturday.

They said their take-home pay was bad and needed an upward review. The unions said failure to address their grievances would be followed by protracted strike action.

There are concerns that the corporation would lose millions of naira because of the strike.

Meanwhile, the strike action will cost the NRC huge sums in economic losses daily. Checks by our correspondent showed that the NRC might lose over N57 million in the three days the strike action will last on the Abuja-Kaduna train service.

November 19, 2021

November 19, 2021November 19, 2021 Inspiration 92.3 FM

Gbajabiamila says President Is In Support Of Direct Primary

Gbajabiamila says President Is In Support Of Direct Primary

The Speaker of the House of Representatives, Femi Gbajabiamila, says President Muhammadu Buhari is in support of the direct primary which allows all card carrying members of political parties to be involved in the choice of candidates for major elections.

He said this while responding to questions from State House reporters after a meeting with the president at the Presidential Villa, Abuja.

The speaker said the National Assembly backed direct primary because it would activate the implementation of the Not Too Young To Run Bill signed by Buhari to enable young Nigerians to participate in governance.

He said the revised Electoral Act which approved direct primary as sole method to produce candidates for all elective positions would soon be transmitted to the President for assent.

Responding to a question on the bill, he said: "Mr President has always been. We all know that. The whole world know that. He has always been from his inception in politics because he is a very popular man."

Gbajabiamila says President Is In Support Of Direct Primary

Australia Test-Captain Steps Down Over Sexting Scandal

Australia Test-Captain Steps Down Over Sexting Scandal

Australian cricketer Tim Paine has stepped down as captain of the national Test team less than three weeks before The Ashes over a sexting exchange with a former colleague.

The 36-year-old had been expected to lead the line for his side in the series against England which commences in Brisbane on December 8, but made the "incredibly difficult decision" to abdicate the role.

The wicketkeeper-batsman did not shed light on the nature of the messages in his resignation speech, but Cricket Australia's (CA) news website referred to it as "revelations of a sexting incident involving a former Cricket Tasmania employee in 2017".

Cricket Australia has accepted the resignation and would appoint a new captain, but added the Tasmanian would be available for selection for the forthcoming series.

Fast bowler Pat Cummins is the current vice-captain and most likely choice to become the team's new leader.

Paine was unexpectedly elevated to become Australia's 46th Test captain after Steve Smith's ban following the infamous ball-tampering scandal in South Africa in 2018.

While the duty of captain was thrust upon him, he has drawn lauding for his execution of the demanding dual roles of captain and wicketkeeper, especially in Australia's 2019 Ashes triumph in England.

Speaking to reporters in Hobart, Paine said: "It's an incredibly difficult decision but the right one for me, my family and cricket.

"As a background on my decision, nearly four years ago I was involved in a text exchange with a then colleague.

Australia Test-Captain Steps Down Over Sexting Scandal

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President Buhari Okays N656.11bn Fresh Bailout For 36 States

Train Passengers Stranded, NRC Loses Millions As Unions Strike

Gbajabiamila says President Is In Support Of Direct Primary

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Australia Test-Captain Steps Down Over Sexting Scandal

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