Buhari borrows $2.02bn from China in six years

The Buhari’s administration has borrowed $2.02bn as loans from China from 2015, data obtained from the Debt Management Office on Monday showed. According to the statistics obtained from the DMO, Nigeria’s total debt from China as of June 30, 2015 stood at $1.38bn. However, as of March 31, the country’s debt portfolio from China had risen to $3.40bn. According to …

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FG demolishes 12 churches in Lagos

There has been outrage over the demolition of 12 churches on 2nd Avenue, FESTAC Town, Lagos State, by officials of the Federal Housing Authority. Our correspondent was told that a market and a car mart were also affected in the exercise carried out on Sunday. PUNCH Metro learnt that the demolition started around 5am and continued till around 3pm. The …

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Twitter ban: Nigeria loses N24.72bn in 10 days

Nigeria has lost N24.72bn ($60.14m) in 10 days to the Twitter ban that took effect on June 5. According to NetBlocks Cost of Shutdown Tool, Nigeria loses N102.9m ($250,600) every hour to the ban. The Federal Government had on June 4, 2021 announced the suspension of Twitter in Nigeria. The Minister of Information and Culture, Lai Mohammed, had cited ‘the …

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Naira tumbles by 51.95% despite CBN’s defence measures

The value of the naira to the dollar fell from 196.99 in December 2015 to 410 in April 2021, reflecting a 51.95 per cent decline despite the various foreign exchange policies introduced by the Central Bank of Nigeria to strengthen the currency. According to a monthly document obtained from the CBN’s website, the value of naira at the inter-bank forex …

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TB Joshua Begins Final Journey Home

Late founder of Synagogue Church of All Nations (SCOAN), Prophet T.B. Joshua will begin final journey home from July 5, 2021 as the church unveiled burial plans. SCOAN, in a statement issued late Monday unveiled a week-long burial plan for Joshua, leading to his burial at the church’s premises. Joshua would begin his journey home between July 5 and 11. The …

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Alexander Povetkin: Former world heavyweight champion retires

Former world heavyweight champion Alexander Povetkin says he is retiring from boxing because he needs time to fully recover from coronavirus. “I’m no longer young. I have decided to end my career,” said the Russian, 41. Povetkin was WBC interim heavyweight champion until he was stopped by Briton Dillian Whyte in a rematch in March. It was the third defeat of …

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