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Army, DSS Reportedly Uncover Large Cache Of Arms, Ammunition In Anambra

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Recovered arms

A large stockpile of arms and ammunition have been reportedly uncovered in Anambra State through a joint security cordon-and-search operation carried out by troops of the 82 Division of the Nigerian Army and the Department of State Services (DSS).

This was disclosed in a statement signed by the Deputy Director, Army Public Relations, Col Sagir Musa during the weekend.

According to him, the joint operation, which led to arrest of two suspects, followed the recent murder of three civilians as a result of land dispute between some communities in the state.

The statement reads: “Following intelligence report, operatives of the Department of State Services, Anambra State Command and a patrol team from 302 General Support Regiment, Onitsha, successfully carried out a cordon-and-search operation on three identified locations in Amansi — Umuru, Orukabia and Graceland Housing Estate, Nteje General Area, Oyi Local Government Area of Anambra State.

“The operation was conducted in the early hours of yesterday at about 06:00 a.m.

“In the three areas that were searched, specifically 8, Chukwunonso Ndulue Street in Graceland Housing Estate, Nsugbe, Onitsha, two suspects were arrested.

“The following arms, ammunition and other items were recovered: seven pump action guns, 44 cartridges, one hunter knife, and two cutlasses.

“Recently, the three mentioned communities (Amansi – Umuru, Orukabia and Graceland Estate Nteje), have been in acrimonious land/chieftaincy tussle. This led to the gruesome murder of three civilians allegedly by suspected thugs.

“The suspects and the exhibits will soon be handed over to the police.

“Members of the public, especially in the above communities, are please requested to continue to give useful information and report any suspicious movement of persons or objects to security agencies.”

Inside Nigeria

BREAKING: Buhari Nominates Okonjo-Iweala For WTO Director-General Position

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President Muhammadu Buhari has approved the nomination of Ngozi Okonjo Iweala, former coordinating minister for the economy, for the position of director-general of the World Trade Organisation (WTO), TheCable reports.

In a document seen by TheCable on Thursday, Buhari withdrew the candidacy of Yonov Frederick Agah, Nigeria’s permanent representative to WTO, for the same position.

The election is scheduled to hold in Geneva, Switzerland in 2021 for a four-year term that would run from 2021 to 2025.

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Buhari Presides Over Virtual FEC Meeting

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President Muhammadu Buhari is currently presiding over a virtual Federal Executive Council (FEC) meeting at the State House, Abuja.

The meeting, which started at 09:02 GMT has the Vice President, Professor Yemi Osinbajo (SAN), Secretary to Government of the Federation, Boss Mustapha, Chief of Staff to the President, Professor Ibrahim Gambari, as well as some Ministers in attendance.

Ministers present in the hall include those of Justice, Aviation, Finance, Information and Culture, Environment, Water Resources, Defence and Works.

All other Ministers are attending form their various offices in the nation’s capital city, Abuja.

The meeting is expected to consider issues surrounding how the nation can mitigate the effects of the COVID-19 and how to enhance the livelihood of Nigerians in the midst of the pandemic.

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Senate Okays Buhari’s $5.513bn Loan Request

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The Senate on Tuesday approved President Muhammadu Buhari’s $5.513 billion external loan request to finance the revised 2020 budget.

The approval followed the presentation and consideration of the report of the Senate Committee on Local and Foreign Debts, Senator Clifford Odia (Edo Central) by the upper chamber.

Buhari had, in his letter of request, said the $5.513 billion external loan is to enable the Federal Government fund the 2020 revised budget.

However, the components of the external loan, which is to enable the Federal Government execute its priority projects and for projects to support state governments in stimulating their economy, which has been adversely affected by the COVID-19 pandemic, was stood down by the Senate due to lack of requisite details.

A lender for the Federal Government’s priority projects as approved by the Senate is the African Development Bank (AfDB) – $125million to strengthen healthcare system and improve response to COVID-19 and $23 million for financing smallholder farmers to mitigate food security impact of the COVID-19 pandemic.

Others are $600million from the Islamic Development Bank to support response to challenges posed by COVID-19 and $500 million from the African Export-Import Bank to provide critical medical supplies to combat COVID-19.

Also, the Senate passed the 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) of the Federal Government.

President Muhammadu Buhari had last Thursday, in a letter, urged the upper chamber to consider and approve the 2020-2022 MTEF/FSP.

The Senate approved the recommendation of the Senator Solomon Adeola-led Senate Committee on Finance that the price of crude oil put at $25 per barrel by the Federal Government, be increased to $28 per barrel.

The upper chamber also approved that the proposed daily oil production benchmark of 1.9 million barrel per day be reduced to 1.8mbd.

The Senate also backed the proposed exchange rate, which was moved by the Federal Government from N306 to one dollar to N360 per dollar.

This development invariably shows that the Senate has thrown its weight behind the devaluation of the naira.

However, other critical parameters like the exchange rate of N360 to a US dollar, 14.43 inflation growth rate and 4.42 GDPgrowth rate were retained.

Other assumptions retained are N5.09 trillion Federal Governmnet’s revenue, N10.51 trillion, N4.95 trillion fiscal deficit and N4.17 trillion new borrowings (including foreign and domestic borrowing).

Others are N398.5 billion as statutory transfers, N2.68 trillion for debt service, N272.9 billion as sinking fund and N536.7 billion for Pension and gratuities.

The Senate also retained other components of the proposal in the MTEF/FSP includingN10.51 trillion as total expenditure, N4.93 trillion as total recurrent, N2.83 trillion for personnel cost and N2.23 trillion for capital expenditure.

The Chairman, Senate Committee on Finance, Senator Solomon Adeola in his report, said the increase in the oil price benchmark from the proposed $25 to $28 was as a result of the recent upward trend of the price of crude oil in the international market.

According to him, the price oil per barrel is now $38 with a very strong indication that the price will rise to $40 or $45 per barrel.

President of the Senate, Ahmad Lawan, in his remarks after the passage of the MTEF/FSP, urged the Senate Committee on Privatisation to laise with the Bureau of Public Enterprise (BPE) in ensuring that the projected N260billion from proceeds of privatised agencies are realised and used to fund critical projects in the revised 2020 budget.

He faulted some special accounts being operated by the executive particularly the Natural Resources Development Accounts.

According to him, such accounts at this time of scarcity of funds, are not all necessary.

“Keeping monies in Natural Resources Development Accounts is more of waste than serving critical purposes,” he said.

He thereafter adjourned sitting to next week Tuesday for consideration and possible passage of the revised N10.509 trillion 2020 budget.

However, the intention of the Federal Government to borrow Euro 995million from the Export-Import Bank of Brazil to support Green Imperative and enhance the mechanisation of agriculture and agro-processing in the country, was put in abeyance by the upper chamber.

Also, the ongoing negotiation by the Federal Government with the World Bank for between $500million – $750 million for COVID-19 Action Recovery and Economic Stimulus Programme to support state-level efforts to protect livelihoods, ensure food security and stimulate economic activities, has not been approved.

Additionally, $500 – $750 million also being negotiated with the World Bank for State Fiscal Transparency and Sustainability Programme to provide fiscal support to the States was not approved.

The Committee said that it would consider the proposals when it gets requisite details on what the loans would be used for from the Minister of Finance, Budget National Planning, Mrs Zainab Ahmed.

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