Author: Chronicle Editor

Index provider MSCI says Nigerian stocks will remain part of its frontier indexes and are no longer under review for a possible demotion – a status which the securities had been under since September 2016 after the government introduced capital controls. “The market will be removed from the review list for potential reclassification to Standalone status,” MSCI said in a statement posted on its website late on Thursday, adding that the central bank’s introduction of a new foreign exchange window in April had improved the situation for foreign investors. “Market participants have indicated that since the establishment of this Window,…

Australian Deputy PM Barnaby Joyce and four other politicians were wrongly elected because they held dual citizenship, a court has ruled. The High Court of Australia decision means three of the politicians, including Mr Joyce, are disqualified from office. The others quit in July. Australia’s constitution prohibits dual citizens from being elected. Mr Joyce’s exit strips the government of its one-seat majority, but he could return through a by-election. The deputy prime minister, who renounced New Zealand citizenship in August, has pledged to re-contest his lower house seat. Read Also Trump approves release of some John Kennedy files “I respect…

United States President Donald Trump has ordered the release of 2,800 files on President John F Kennedy’s assassination. But he blocked the release of other files, citing national security concerns. Senior administration officials did not divulge the contents of the records being shared by the National Archives on Thursday. Conspiracy theories have swirled since President Kennedy was fatally shot in Dallas, Texas, 54 years ago. A 1992 law passed by Congress required all records related to the assassination – around five million pages – to be publicly disclosed in full within 25 years. READ: Buhari apologises to Senate, Reps over…

The Joint Committee of the National Assembly on Aviation on Thursday expressed worry over the deplorable facilities of some airports in the country and declared the Akanu Ibiam Airport unsafe. Sen. Muhammad Adamu (APC), representing Kebbi Central, expressed displeasure during a tour of the facility of the Port Harcourt International Airport. Adamu said that the Senate had between 2015 and 2017 appropriated funds for completion of the remodelling of airports across the country. In a report on the state of the Enugu Airports, Adamu said the situation was worrisome and needed urgent remedial measures to protect the airport users. Describing…

President Muhammadu Buhari is set to present the 2018 budget estimates to the National Assembly. The Federal Executive Council (FEC) approved the plan yesterday. Minister of Budget and National Planning Udoma Udo Udoma told reporters after the meeting: “We did promise that the budget will be ready in October and it is ready in October. We are liaising with the National Assembly because they have to approve the date for the President to come and address them to submit the budget.” He was with the Minister of Information and Culture Lai Mohammed, Minister of Finance Kemi Adeosun and the Minister…

President Muhammadu Buhari has apologised to the leadership of the National Assembly over the cancellation of the planned dinner for the lawmakers in the State House. The News Agency of Nigeria (NAN) reports that the President was to host the lawmakers to dinner at the new Banquet Hall of the State House, Abuja, by 8:30p.m. on Thursday. He, however, met behind closed doors at his official residence with the Senate President, Bukola Saraki and the Speaker, House of Representatives, Yakubu Dogara, along with the Vice-President, Prof. Yemi Osinbajo and some presidential aides. Mr Femi Adesina, the President’s Special Adviser on…

As part of measures to boost the nation’s economy, the Bank of Agriculture (BoA) has said that strategies for adequate financing of the Agricultural sector that would generate employment and empower clients in Agri-business. Also, the Bank emphasised that the strategies would reduce poverty and earn foreign exchange for the nation. The Managing Director of the Bank, Alhaji Kabir Adamu, while delivering an address at the opening of financial bid for the selection of consultants for the BoA capacity building and institutional strengthening project of African Development Bank (AfDB), said that the bank would ensure that efforts to grow the…

Carabao Cup holders Manchester United will face Bristol City in the quarter-finals of the competition, while Arsenal take on West Ham. United comfortably defeated Swansea 2-0 on Tuesday night to set up a tie against the Robins at Ashton Gate. Bristol City, the only club left in the competition from outside the Premier League, progressed to the last eight courtesy of a 4-1 win over Crystal Palace. West Ham will travel to Arsenal in the quarter-final stage after coming from two goals down to defeat Tottenham on Wednesday night. Five-time winners Chelsea host Bournemouth in another all-Premier League tie, after…

• As U.S. pledges commitment to investing in nation’s oil sector About 26 firms have indicated interest to participate in the revamping of Nigeria’s four refineries, which will require investment of about $2billion (N720billion) according to the Minister of States for Petroleum Resources, Dr. Ibe kachikwu. This comes as the U.S. Secretary of Energy, Rick Perry, has reiterated his country’s willingness to continue to encourage investment in Nigeria’s oil and gas sector. The Nigerian National Petroleum Corporation (NNPC), has four refineries, two in Port Harcourt Refining Company Limited (PHRC 1&2), and one each in Kaduna Refining & Petrochemical Company (KRPC),…

…Cautions aviation sector stakeholders, others against flouting traffic laws la The Lagos State Traffic Management Authority (LASTMA) has warned stakeholders in the aviation sector and members of the public to henceforth desist from flouting the State Traffic Law with regard to plying one way on Airport Road, failure of which appropriate provisions of the law would apply. Speaking during a joint enforcement carried out on Thursday in the axis by LASTMA and the Rapid Response Squad (RRS) of the Lagos Police Command, General Manager of the Agency, Mr Olawale Musa, said the State Government had been inundated with several reports…