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World Bank to help Nigeria lift 100m out of poverty

The President of the World Bank Group, David Malpass, on Wednesday, said the multilateral institution is focused on supporting the federal government to lift 100 million Nigerians out of poverty.

Malpass said this during a media briefing at the ongoing virtual World Bank/International Monetary Fund (IMF) spring meetings in Washington DC that the World Bank would do so by supporting the government in its efforts to promote growth, job creation and shared prosperity.

According to him, as part of the efforts, the World Bank is supporting Nigeria in ensuring fiscal and debt sustainability, including enhancing debt transparency and debt management at the federal and sub-national levels.

President Muhammadu Buhari had said his administration planned to lift 100 million Nigerians out of poverty over the next decade.

China shares rise as healthcare firms gain on vaccination efforts

China stocks gained on Thursday, as healthcare shares were boosted by a ramp-up of vaccination efforts in the country amid the emergence of a new cluster of infections.

** At the midday break, the Shanghai Composite index was up 0.19% at 3,486.19 points, while the blue-chip CSI300 index gained 0.15%.

** The healthcare sub-index surged 1.45% and the consumer staples sector was up 0.37%, while the real estate index down 1.57%. **

China reported 24 new COVID-19 cases on April 7, with 11 of the new cases were local infections reported in the southwestern Yunnan province. ** The country had administered a total of 145.39 million COVID-19 vaccine doses, as of Tuesday. ** Shares in Chinese real estate developers fell after Beijing said it would push for property tax. Vanke and Gemdale Corp fell 1.8% and 1.6%, respectively.

** The National Development and Reform Commission rolled out new measures to relax market entries in the southern island of Hainan, boosting shares of local firms such as Hainan Haide Capital Management Co.

50 herdsmen arrested for kidnapping, banditry – NSCDC
The Commandant General of the Nigerian Security and Civil Defence Corps (NSCDC), Ahmed Audi, has disclosed that 50 herdsmen have been arrested across the country for crimes bothering on kidnapping, banditry and cow rustling.

Speaking in Abuja on Wednesday at the presentation of operation licences to 17 newly certified Private Guard Operators, Audi said the arrested herdsmen would be made to face the full wrath of the law.

Toyota unveils new cars with advanced driving assist technology

Toyota Motor Corp on Thursday unveiled its new Lexus and Mirai models in Japan, equipped with the company’s latest advanced driver assistance that enables safe driving and wireless software updates.

The carmaker’s new driving assist technology, or Advanced Drive is a level 2 autonomous system that helps drivers with driving conditions such as keeping the car in its lane, maintaining the distance from other vehicles, changing lanes on expressways or other motor-vehicle only roads.

The luxury sedan Lexus LS will be put on sale on Thursday costing from 16.3 million to 17.9 million yen, while the second generation Mirai hydrogen fuel cell car will be offered later on April 12 at the price between 8.4 million-8.6 million yen.

47% of financial services organisations do not have a tax policy

A recent PwC Nigeria survey has shown that 47 percent of tax functions in Nigeria’s financial services (FS) sector, either do not have a tax strategy or they are not aware of one.

The respondents to the survey were senior-level executives from various sub-sectors in Nigeria’s financial services industry.

The survey polled the major industry players in financial services, including banking, insurance, and pension fund custodians.

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