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APC Chairman abducted

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The police affirmed the capture and said they were striving to free the APC chief.

Gunmen have seized the administrator of the All Progressives Congress (APC) in Nasarawa State, Philip Shekwo.

Mr Shekwo was captured sunday morning . Sources near the family said the criminals came in enormous number and entered his Lafia residence through the fence.

They were said to have traded shots with his security detail prior to going out.

They apparently took a few things and money prior to leaving with the director. The State Commissioner of Police, Dele Longe, confirmed it in Lafia, the state capital.

He said Mr Shekwo was snatched from his Bukan Sidi home around 11 p.m. on Saturday.

He likewise said he has conveyed the police to brush the different flashpoints in the state to guarantee his delivery. Kidnappings of high profiled people have gotten wild in Lafia, the state capital and old neighborhood of the Inspector General of Police, Mohammed Adamu.

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Army admits to firing live rounds at the Lekki toll gate incident

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The Nigerian armed force has conceded that soldiers took live bullets to the Lekki toll gate.

As indicated by The PUNCH, the Commander of 81 Military Intelligence Brigade, Victoria Island, Lagos, Brigadier General Ahmed Taiwo, has clarified that Phase Four of military inner security activity, which was conveyed at the Lekki toll gate on the night October 20, included the utilization of both live and clear ammo.

He said the troopers took live projectiles to the scene with the end goal of self defence .

Taiwo said a segment of the soldiers that worked at the toll gate on that night were to be sure equipped with live shots. He, nonetheless, kept up that lone officers with clear bullets discharged shots into the air. The overall expressed this on Saturday at the continued procedures of the Lagos State Judicial Panel of Inquiry examining the supposed killing of #EndSARS dissidents at the Lekki toll gate evening of October 20 by soldiers.

Taiwo, who had prior made an introduction before the board with regards to the Nigerian Army on November 14, returned on Saturday for questioning by two guidance for #EndSARS dissenters, Messrs Adeyinka Olumide-Fusika (SAN) and Mr Adesina Ogunlana.

When Olumide-Fusika asked Taiwo if soldiers who went to the tollgate carried guns, Taiwo said, “When you are talking of guns, you are talking about high-calibre guns. They were carrying rifles; not guns.”

On further pressing by Olumide-Fusika, Taiwo added, “Definitely, a portion of the Force will carry live bullets, in case they are attacked.

But the soldiers that formed the firing team, who fired, used blank bullets. And that is why you watched the video and saw exactly what happened.” Also, under cross-examination by Ogunlana, Taiwo explained that in Phase Four military internal security operation “soldiers would be given both live and blank bullets.” He said, “In this particular case, we saw that the peaceful protest had been infiltrated by hoodlums.

They were peaceful protesters, no doubt, but there were also hoodlums who sought to take advantage, that was why they were armed with blank bullets in addition with live bullets.”

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The economy may end up weaker if inflation rate is not controlled – CBN report

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The Nigerian economy may wind up more vulnerable on the present moment if the current expansion rate isn’t properly checked.

This was unveiled in the Central Bank of Nigeria’s Inflation Attitudes Survey Report for the second from last quarter of 2020(Q3 2020).

The study was led by the Statistics division of the Central Bank of Nigeria (CBN).

Features of the study report:

62.1% of the respondents firmly accept that the economy may wind up more fragile than it was toward the start of the year, if the overall high expansion rate isn’t instantly tended to.

A lion’s share of the families had no clue on the heading of loan costs in the previous a year. For instance, the individuals who accept that loan fees had ascended over the most recent a year are 35.3%, 8.3% of the respondents accept that financing costs had fallen, and 43.4% had no clue about what occurred over the most recent a year.

On the assumptions regarding how the financing costs on bank advances and reserve funds would act throughout the following a year, 29.8% are of the feeling that the rates will increase, while 16.7% accept that the rates will fall, and 40.6% had no clue about what might occur.

In choosing which one is better, a greater amount of the respondents actually favor higher loan costs than higher swelling. For instance, 25.6% incline toward financing costs to ascend to hold expansion down, 43.3% believed that they favor loan fees to rise quicker, and 31.1%of the respondent had no idea by any means.

What you should know

The Statistics branch of the Central Bank of Nigeria, on quarterly premise, conducts reviews to verbalize the perspectives on family units on changes in costs of products and ventures, incorporating loan fees over the most recent a year and their desires for changes throughout the following a year

The Q3 2020 Inflation Attitudes Survey was led between September 21 and 30th with an irregular example size of 2,070 Households from 207 Enumeration Areas (EAs) the nation over and had a reaction pace of 98.1%.

The assessments of the respondents are essential in valuing the degree of comprehension of the overall population with respect to the nation’s money related approach system and helpful for powerful financial strategy detailing.

As of late, we had announced that Nigeria’s expansion rate has increased to 14.23% in October 2020 as against 13.71% recorded in September 2020, as per NBS report.

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Recession: Government should give more tax reductions to advance business capital venture – NECA

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NECA has called on Government to give more tax cuts as a means to promote business capital investment.

The Nigeria Employers’ Consultative Association (NECA) has approached Government to give more tax reductions to advance business capital speculation as a way to improve monetary development after Nigeria as of late slipped into a downturn.

This was uncovered by NECA’s Director-General, Dr. Timothy Olawale, in an assertion on Saturday.

“The report of NBS demonstrated the nation’s GDP development declined by 3.62 percent in Q3, 2020 after a prior constriction of 6.1 percent in Q2.

“In synopsis, the GDP for Q1 to Q3 of 2020 remained at – 2.48 percent; the oil GDP fell by – 13.89 percent from – 6.63 percent in Q2 2020 and Non-Oil fell by – 2.51 percent from – 6.05 percent in Q2 2020.

“With negative GDP development in two sequential quarters, the economy has perpetually gone into downturn,” Olawale said.

He suggested that the FG reports tax breaks to help interest into the country’s economy and quick track the execution of strategies to expand trade openings.

“Government should give more tax reductions to advance business capital speculation while empowering neighborhood and unfamiliar venture.

“Government should quick track the execution of arrangements to expand further its fare possibilities, generally the colossal supply of common and agro assets, to lessen tension on the unfamiliar stores.

“We call for more hearty and far reaching expansionary financial and money related arrangement bundles to speedily reflate the economy out of the current emergency,” he said.

What you should know

we detailed that Nigeria’s Gross Domestic Product (GDP) in genuine terms declined by – 3.62% (year-on-year) in Q3 2020, consequently denoting an all out downturn and second continuous compression from – 6.10% recorded in the past quarter (Q2 2020).

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