• Tuesday, March 05, 2024
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Five things to know to start your Wednesday


EFCC seizes passports of suspended ministers over fraud investigation

The EFCC seized the passports of Edu and her predecessor amidst a N44 billion ministry fraud probe.

Three bank directors were questioned in connection with Edu’s defence of a N585 million transfer for vulnerable groups.

Atiku criticised the APC’s alleged misuse of the ministry, praising Edu’s suspension but calling for broader scrutiny.

The PDP urged Tunji-Ojo’s suspension. Shekarau praised Edu’s suspension by President Tinubu. Investigations continue, highlighting ministry overhaul calls.

Shaibu kicks as Edo PDP leaders endorse Ighodalo

Deputy Governor Philip Shaibu opposes the PDP’s endorsement of Asue Ighodalo as governorship candidate in Edo North.

The meeting, led by ex-deputy governor Mike Oghiadomhe, included party heavyweights backing Ighodalo.

Shaibu considers it a slight change in his position, vowing to enhance Edo’s economy if given the opportunity.

The State PDP Chairman, Dr. Aziegbemi, applauds efforts to unite, aiming to preserve Governor Obaseki’s legacy.

15 multinationals exit Nigeria in three years – NECA

NECA reports 15 multinationals divesting or partly closing Nigerian operations in 3 years, leading to over 20,000 job losses.

Director-General Adewale Oyerinde warns of increased insecurity, child labour, and economic repercussions.

Concerns mount over rising unemployment, impacting households, government revenue, and businesses.

Prominent companies’ exits like GSK and Procter & Gamble raise worries about broader economic effects.

Boeing CEO admits error, says mid-air blowout ‘can never happen again’

Boeing CEO and top officials acknowledged errors after a jet’s panel blowout, vowing to prevent a repeat. Calhoun admitted mistakes, promising transparency and fixes.

Loose parts found on grounded jets led to concerns, prompting checks. United and Alaska Airlines cancelled flights as Boeing addressed the quality control issue. Calhoun praised swift crew actions and pledged safety for future flights.

The response contrasted with earlier crises, earning praise for speed and transparency. Boeing didn’t comment further.

IMF approves disbursement of $60.7 million to Mozambique

The IMF completed Mozambique’s third loan programme review, allowing a $60.7 million disbursement, totaling $273 million disbursed from the $456 million Extended Credit Facility approved in 2022.

The IMF praised satisfactory programme performance, noting reduced inflationary pressures and accelerating economic recovery.

The three-year plan aims to aid economic recovery, decrease public debt, and finance human capital, climate adaptation, and infrastructure investments.