
Collapse in domestic bills and bonds yields forcing local funds into stocks

United Capital Plc CEO purchases 1 million additional shares worth N5.17 million

FG outlines steps to be taken by businesses to export to AfCFTA countries

Neimeth Pharmaceuticals to raise N5 billion in additional equity

Covid-19: WHO warns the world faces catastrophic moral failure due to vaccine nationalism

COVID-19 Update in Nigeria

Daily Parallel Market Exchange Rate – ₦470/$1

4 cryptos gain over 400% in a month, far outperforming Bitcoin

Naira remains stable across forex markets as external reserve continues to rise

Oil prices tumble on fears of global economic recovery
Around the World
Canada invites 3,900 new PR candidates, introduces new programme to attract Nigerians
The Canadian Government has invited new 3,900 Express Entry candidates to apply for permanent residency in its latest draw, introduced new programme to attract more Nigerians

Published
10 months agoon

The Canadian Government has invited 3,900 Express Entry candidates to apply for Permanent Residency (PR) in its latest draw, with a Comprehensive Ranking System (CRS) score of 471, a point over the previous draw held in February, which had a minimum score of 470.
Meanwhile, as the number of Nigerian International students studying in Canada increases every year, the Canadian Government has introduced a new pilot program intended to help expedite the study permit application process for Nigerians.
The program, known as “The Nigerian Student Express (NSE)” pilot, is for Nigerians who have been accepted to a Canadian post-secondary institution. This means that eligible candidates need to have been accepted to a bachelor’s, master’s or doctorate degree program, or a post-graduate diploma course in Canada.
This initiative is aimed at shortening the process involved in acquiring study permits for Nigerians from an average of eight weeks to 20 days.
[READ MORE: Canada invites 4,500 Express Entry Candidates, as cut-off score drops to 470)
In order to reach this year’s 85,800 ITS target, the Canadian Government has started issuing larger numbers of invitations in every draw. This round brings the total number of ITAs issued this year to 18,700, indicating a 21.79% achievement so far.
A tie break of March 4 was applied, indicating that all candidates with CRS scores of 471 and above who entered their profiles in the Express Entry before the date received invitations to apply.
How CRS Score works
The Comprehensive Ranking System (CRS) is a score awarded to applicants, considering factors such as age, education, skilled work experience and language ability in English or French.
A set number of the highest-ranked candidates receive invitation for Canadian permanent residence through frequent draws from the pool of applicants.
Canada’s Express Entry system manages the profiles of candidates for three of Canada’s main economic-class immigration programmes, which are: the Federal Skilled Worker Class, Federal Skilled Trades Class and Canadian Experience Class.
[READ ALSO: Canada invites fresh 3,500 candidates to apply for Permanent Residence)
Why Nigerians travel abroad
Nigerian immigration to Canada has been booming in recent years, being the fourth most represented nationality among new permanent residents in 2019, many of which are young people in search of academic pursuits that give study-work opportunity to immigrants.
The educational system in Nigeria is on a steady decline, characterized by lack of an enabling learning environment and recurring strike actions. The Academic Staff Union of Universities (ASUU) is currently embarking on a two-week warning strike, which has over the years been a thorn on the flesh of Nigerian students, increasing the duration of a program that would have been completed in four to five years to six years or more.
Appointments
Joe Biden appoints Nigerian-born Funmi Olorunnipa Badejo as Counsel
Nigerian-American, Funmi Olorunnipa Badejo has been appointed as a member of the office of the White House Counsel.

Published
3 days agoon
January 15, 2021
U.S President-elect, Joe Biden, announced the appointment of Nigerian-American Funmi Olorunnipa Badejo as a member of the office of the White House Counsel, to serve as an Associate Counsel.
He announced it this week in a statement seen on his transition website.
A part of the statement reads:
- “The Counsels are experienced and accomplished individuals, have a wide range of knowledge from various fields and will be ready to get to work on day one.”
What you should know about Funmi Badejo
- Funmi Olorunnipa Badejo, before the announcement, was General Counsel of the House Select Subcommittee on the Coronavirus Crisis, chaired by House Majority Whip, James E. Clyburn.
- Other government roles she has served include serving as Counsel for Policy to the Assistant Attorney General in the Civil Division of the U.S. Department of Justice, Ethics Counsel at the White House Counsel’s Office, and Attorney Advisor at the Administrative Conference of the United States during the Obama-Biden administration.
- She started her career as an associate with the law firm of Manatt, Phelps & Phillips, LLP and was also a Legal Counsel at Palantir Technologies Inc.
- She is a graduate of Political Science from the University of Florida, with a Master of Public Administration (MPA) from Harvard University and holds a Law Doctorate from the University of California School of Law.
- She becomes the 3rd Nigerian American to be appointed under the Biden Government.
Biden’s transition committee said the new Counsels would work under the direction of White House Counsel, Dana Remus, and “help restore faith in the rule of law and the accountability of government institutions.”
In case you missed it
Around the World
Suspending Trump was the right decision but sets dangerous precedent – Twitter CEO
Twitter CEO, Jack Dorsey has reacted to the permanent suspension of Donald Trump from the social network site.

Published
4 days agoon
January 14, 2021
Jack Dorsey, the CEO and founder of Twitter, said that the decision to ban Donald Trump from the social network was the right decision, but one that sets a dangerous precedent.
Jack Dorsey disclosed this in a statement on Thursday morning.
He said:
- “I do not celebrate or feel pride in having to ban Donald Trump from Twitter, or how we got here. After a clear warning we’d take this action, we made a decision with the best information we had based on threats to physical safety both on and off Twitter. Was this correct?”
- “Banning Trump was the right decision as Twitter faced an extraordinary and untenable circumstance, forcing us to focus all of our actions on public safety. Offline harm as a result of online speech is demonstrably real, and what drives our policy and enforcement above all.”
He disclosed that banning an influential account has significant ramifications, citing it as a failure of Twitter to promote healthy conversation and a time to reflect on its operations.
He added that taking actions to limit influential people like Trump fragments public conversation, limits the potential for clarification, redemption, learning, and sets a precedent I feel is dangerous – the power an individual or corporation has over a part of the global public conversation.
He disclosed that Internet companies engaging in censorship can and over the long term, be destructive to the noble purpose and ideals of the open internet.
- “A company making a business decision to moderate itself is different from a government removing access, yet can feel much the same. I believe the internet and global public conversation is our best and most relevant method of achieving this. I also recognize it does not feel that way today. Everything we learn in this moment will better our effort, and push us to be what we are: one humanity working together.”
What you should know
Around the World
Trump impeached the second time by US congress as 10 Republicans vote against him
The US House of Representatives has impeached President Trump for the second time in two years.

Published
5 days agoon
January 14, 2021
Donald Trump, on Wednesday, became the first President in US history to be impeached twice, when the House of Representatives voted to charge him with inciting an insurrection in last week’s violent attack on the Capitol.
Unlike the impeachment in December 2019, the ranks of the Republicans were broken with 10 of the President’s party members joining the Democrats to get him impeached.
READ: US Supreme court dismisses Texas bid to overturn presidential election results
The vote that took place in the Democratic-controlled House was 232-197 following the deadly assault on American democracy, although it looks unlikely that the swift impeachment would lead to Trump’s removal before his 4-year term ends and Democratic President-elect Joe Biden is inaugurated on January 20.
The Senate’s Republican majority leader, Mitch McConnell, rejected the call by Democrats for an immediate impeachment trial, saying there was no way to conclude it before Trump left office. But even after he leaves the White House, a Senate conviction of Trump could lead to a vote on banning him from running for office again.
READ: Mike Pence to go against Trump, announces he will attend inauguration
After losing the presidential election to Joe Biden, Trump, instead of accepting the results, inspired a violent and conspiracy-fueled attack on the Capitol, while calling the election fraudulent.
The congress had passed a single article of impeachment, a formal charge, accusing Trump of “incitement of insurrection,” with the speech he delivered to thousands of supporters shortly before his supporters attacked the Capitol, with the intention of disrupting the formal certification of Biden’s electoral victory over Trump.
READ: Facebook suspends Donald Trump indefinitely
Thousands of armed National Guards in full camouflage with rifles were seen assembled at the Capitol as the impeachment debate went on in the congress.
House Speaker, Nancy Pelosi, on the floor of the house before the vote, said, “The president of the United States incited this insurrection, this armed rebellion against our common country. He must go. He is a clear and present danger to the nation that we all love.”
READ: Twitter drops 8.5% in early trading over President Trump ban
At a later ceremony, she signed the article of impeachment before it was sent to the Senate, saying she did it “sadly, with a heartbroken over what this means to our country.”
In reaction to the development, Trump on Wednesday asked his followers to remain peaceful, saying in a statement: “I urge that there must be NO violence, NO lawbreaking and NO vandalism of any kind. That is not what I stand for, and it is not what America stands for.”
READ: Banking giant, Deutsch Bank to cut ties with President Trump
What this means
- With the impeachment of the President in the Congress, the process will now move to the Senate where, under the US Constitution, impeachment in the House triggers a trial in the Senate. A two-thirds majority would be needed to convict and remove Trump, meaning at least 17 Republicans in the 100-member chamber would have to join the Democrats.
- However, McConnell does not expect any trial to begin until the Senate returns in regular session on January 19, a day before Biden’s inauguration. The trial would proceed in the Senate even after Trump leaves office.
READ: Nigeria’s total public debt increases by N6 trillion in 1 year
What you should know
- It can be recalled that Congress previously impeached Trump in December 2019 on charges of abuse of power and obstruction of the House due to his request that Ukraine should investigate Biden and his son, Hunter ahead of the election, as Democrats accused him of soliciting foreign interference to smear a domestic political rival.
- However, the Senate in February 2020 voted to keep Trump in office.
- While addressing his supporters on January 6, Trump falsely claimed he had defeated Biden, repeated unfounded allegations of widespread fraud and irregularities in a “rigged” election, and urged them to stop the steal, show strength and fight much harder.
READ: Google, Facebook, Twitter stocks drop, investors ponder if big techs have become too powerful
-
Get the scoops and market intelligence that can help
you make better investment decisions right in your
mailbox.