Currency in circulation dips by N10bn
Currency in circulation dropped by N10bn from N2.81tn as of the end of March to N2.8tn as of the end of April, latest statistics from the Central Bank of Nigeria showed on Monday.
According to figures from the CBN, the figure dropped by N50bn in February from N2.83tn as of January to N2.78tn as of the end of February.
It had earlier dropped by N70bn in January from N2.9tn as of December 2020.
According to the CBN, currency in circulation rose from N2.5tn as of the end of October to N2.66tn in November.
Presidency: Southern governors’ plan to enforce open grazing ban is of questionable legality
The presidency says the southern governors’ proposed plan to enforce the ban on open grazing is of “questionable legality”.
Read Also: Southern Governors’ Forum bans open grazing across southern Nigeria
According to the presidency, the resolution reached in Asaba, Delta state capital, will not solve the farmer-herder clashes.
The governors had said the decision was taken as part of efforts to improve security in the region.
There have been mixed reactions over the Asaba resolution, and recently, Abubakar Malami, attorney-general of the federation (AGF), had likened the proposed ban to prohibiting spare parts trading in the north.
In a statement on Monday, Garba Shehu, a presidential spokesperson, said President Muhammadu Buhari had earlier approved the rehabilitation of grazing reserves.
With this, he said, the clashes between the farmer and herders will be addressed.
Indian strain: FG begins hunt for 90 isolation evaders Wednesday
The Federal Government will on Wednesday begin contact tracing of 90 international travellers, who violated the COVID-19 Health Regulations Protection, 2021.
The spokesman for the Presidential Steering Committee on COVID-19, Mr Willie Bassey, gave this indication in an interview with one of our correspondents on Monday.
India, Brazil and Turkey have been witnessing the rapid spread of a devastating strain of COVID-19, which has stretched health systems in the countries.
For example, The Times of India on Monday reported that India had 2,22,315 new COVID-19 cases, taking the country’s total cases to 2,67,52,447.
Senate considers new bill assigning NIPOST stamp duty collection
The Senate Committee on Communications on Monday held a public hearing on two bills.
One of the proposed legislation, among others, empowers the Nigerian Postal Service to collect stamp duty for the Federal Government.
NIPOST and the Federal Internal Revenue Service had been having issues over which of the government’s agencies is constitutionally empowered to collect stamp duty in the country.
The bills are the Nigerian Postal Service Act (Repeal and Establishment) Bill, 2021; and the Nationwide Toll-Free Emergency number (Establishment) Bill, 2021.
Oil starts the week bullish amidst Iran nuclear deal talks
Oil started the week bullish with investor sentiments boosted by signs of economic recovery from the COVID-19 pandemic in the U.S, and the improved outlook for fuel demand.
Investors are also monitoring the progress of talks to revive a 2015 Iranian nuclear deal that is likely to increase global crude supply.
Brent oil futures gained 0.63% to $66.77 and WTI futures were up 0.63% to $63.98 at the start of the Asian trading session.
Iranian President Hassan Rouhani said during the previous week that the U.S. was “ready” to lift sanctions on the country’s oil, banking and shipping sectors, causing oil prices to fall.
“Iran’s oil production has been rising in recent months, likely in anticipation of a lifting of the sanctions,” ANZ analysts said in a note.
