Tag: Monetary

  • Income

    Income is the consumption and savings opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms. However, for households and individuals, "income is the sum of all the wages, salaries, profits, interests payments, rents and other forms of earnings received… in a given period of time."

    In the field of public economics, the term may refer to the accumulation of both monetary and non-monetary consumption ability, with the former (monetary) being used as a proxy for total income.

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  • Souvenir

    Souvenir

    A souvenir (from French, for a remembrance or memory), memento, keepsake, or token of remembrance is an object a person acquires for the memories the owner associates with it. A souvenir can be any object that can be collected or purchased and transported home by the traveler as a memento of a visit. While there is no set minimum or maximum cost that one is required to adhere to when purchasing a souvenir, etiquette would suggest to keep it within a monetary amount that the receiver would not feel uncomfortable with when presented the souvenir. The object itself may have intrinsic value, or simply be a symbol of past experience. Without the owner's input, the symbolic meaning is invisible and cannot be articulated.

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  • Budget

    What is a Budget?

    A budget is a quantitative expression of a plan for a defined period of time. It may include planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities and cash flows. It expresses strategic plans of business units, organizations, activities or events in measurable terms.

    Etymology of Budget

    A budget (derived from old French word bougette, purse) is a quantified financial plan for a forthcoming accounting period.

    A budget is an important concept in microeconomics, which uses a budget line to illustrate the trade-offs between two or more goods. In other terms, a budget is an organizational plan stated in monetary terms.

    Purpose of Budget

    Budget helps to aid the planning of actual operations by forcing managers to consider how the conditions might change and what steps should be taken now and by encouraging managers to consider problems before they arise. It also helps co-ordinate the activities of the organization by compelling managers to examine relationships between their own operation and those of other departments. Other essentials of budget include:

        To control resources
        To communicate plans to various responsibility center managers.
        To motivate managers to strive to achieve budget goals.
        To evaluate the performance of managers
        To provide visibility into the company's performance
        For accountability

    In summary, the purpose of budgeting is tools:

        Tools provide a forecast of revenues and expenditures, that is, construct a model of how a business might perform financially if certain strategies, events and plans are carried out.
        Tools enable the actual financial operation of the business to be measured against the forecast.
        Lastly, tools establish the cost constraint for a project, program, or operation.

     

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  • No Evidence That Shekau Received €5m Foreign Fund From An NGO

    No Evidence That Shekau Received €5m Foreign Fund From An NGO

    Boko Haram Terrorists
    Boko Haram Terrorists

    Fact-checkers at HumAngle online newspaper have described a news report published on Opera News that Abubakar Shekau’s faction of Boko Haram was in disarray after it received a donation of five mIllion euros from an “unidentified” international non-governmental organisation as false.

    The publication claimed that senior members of the group have also turned against each other over how the fund should be shared within the group.

    The story claimed that a military source said “Shekau is getting blind as such only the very close ones of his aides have access to him. The issue of €5m is causing serious disaffection in their camps.

    “Shekau has been receiving such funding in the past and he was never able to build his terror infrastructure beyond what is currently being dismantled. Our commanders are not concerned that he is still defrauding those sponsoring him, if there is any concern it is that we should be able to capture him before his own fighters kill him,” the military source said as claimed by the news report.

    No Evidence That Shekau Received €5m Foreign Fund From An NGO 1Boko Haram Terrorists


    But according to HumAngle newspaper, the Director of Nigerian Army Public Relations, Sagir Musa, when contacted to verify the claim said he was not aware of either the “verified intelligence reports” or the claim that Shekau received five million euros foreign fund through an NGO in the North-East.

    The newspaper also said it searched autogist.com, the blog that the news was attributed to but could not find the story published on the blog.

    “Fact-checkers at HumAngle contacted the Director of Nigerian Army Public Relations, Sagir Musa, to confirm the veracity of the claim and he said he was not aware of either the “verified intelligence reports” or the claim that Shekau received five million euros foreign fund through an NGO in the North-East.

    “We searched autogist.com, the blog that the news was attributed to but could not find the story published on the blog. Also, no reliable medium reporting terrorism published the story. Other conflict and insurgency reporters were contacted by HumAngle but none was aware of the “verified intelligence report”.

    “As the name of the NGO was not disclosed, it became difficult to trace its operation history. 

    “However, Nigeria’s military had suspended several NGOs from operating in the North-East following allegations of collaborating with the terrorist organisation. But no NGO has ever been charged to court by the authorities and the suspended NGOs were later allowed to resume operations in the region.

    “Scholars and experts on Boko Haram have suggested different methods of terrorism financing, from state sponsorship to external support by other terror groups like ISIS and Alqa’eda. But Shekau’s faction of Boko Haram relies on self-funding streams through fishing, farming, crowdfunding, extortion, taxation, raids and ransom taking to finance its operations,” the newspaper published.

    Quoting a report on Boko Haram sources of funding, it continued, “Much of Boko Haram’s funds are transported through human cash couriers, which are able to move rather easily between the porous borders of Nigeria, Niger, Cameroon and Chad… very little evidence of either Gulf or other foreign funding exists,” a report on Boko Haram sources of funding concluded.

    “Due to the strict surveillance of monetary operations to avoid terrorist financing in Nigeria, financial regulations have forced Boko Haram to avoid remittances of funds online. Such a huge amount is not possible to be transferred without its being intercepted by international and local intelligence platforms.”

    The newspaper further said Nigeria Financial Intelligence Unit follows any suspicious transaction with the aim of curbing terrorism financing.

    “It collates information of all beneficiaries of humanitarian assistance to avert financing of terrorism through covert operations, thus making it impossible for any NGO to follow “previous channels and beneficiaries’ templates” of funding terrorism as claimed by the report.

    “Humanitarian organisations work hand in hand with EFFC Department of Special Control against Money Laundering (SCUML) to checkmate their activities to curb terrorism financing, according to Abdurrashid Ibrahim a worker at the financial unit of an NGO in the North-East.

    “Any transaction from five million naira must pass through a special control unit against money laundering (SCUML) clearance process be it for individual or corporate organisation,” he said.

    Furthermore, there is no evidence that an NGO was allowed to operate after the military discovered that “Shekau has been receiving such funding in the past” as claimed by the news.

    According to HumAngle findings, Abubakar Shekau does not operate or rely on an advisory council (Shura). 

    He is reported to be ruthless and brutal to any opposition within the group, making it unlikely for any Boko Haram commander to disagree with the leader.

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  • Breakdown of Funds Donated to Federal and State Governments in the Fight Against the Coronavirus.

    Breakdown of Funds Donated to Federal and State Governments in the Fight Against the Coronavirus.

    Breakdown of Funds Donated to Federal and State Governments in the Fight Against the Coronavirus. 2

    Breakdown of Funds Donated to Federal and State Governments in the Fight Against the Coronavirus. 3


     

    As the Nigerian Government intensifies efforts in its battle towards Coronavirus, monetary donations have continued to pour in from each sector to help the battle. 

    High-profile Nigerians and politicians have additionally donated mouth-watering sums to authorities at the federal and state ranges to fight the virus.

    Others like ex-President Olusegun Obasanjo supplied properties to be used as isolation centres and well being supplies for therapy of contaminated circumstances.

    In complete, 22 donors have supported the battle to eradicate the virus from the nation.

    So far, each the federal and state governments have obtained the sum of N40,771,000,000 as donation to the venture. 

    In a breakdown of the funds, the federal authorities led the marketing campaign with a donation of N10bn grant to Lagos State and N5bn to the Nigerian Centre for Disease Control, the company main the battle towards the virus.

    While Tony Elumelu of United Bank for Africa donated N5bn to the authorities, Keystone Bank, Segun Agbaje of Guaranty Trust Bank, and Jim Ovia of Zenith Bank donated N1bn every.

    Noteworthy of the donation is the Nigerian National Petroleum Corporation that donated N11bn to the authorities.

    The donation raised previous considerations on the non-remittance of full income by the NNPC to the Nigerian Government.

    The desk beneath exhibits a full breakdown of funds donated to federal and state governments in the battle towards the virus.

    Breakdown of Funds Donated to Federal and State Governments in the Fight Against the Coronavirus. by Sahara Reporters on Scribd

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  • Covid-19: Govt aware of need to be agile

    Covid-19: Govt aware of need to be agile

    Covid-19: Govt aware of need to be agile 4

    KUALA LUMPUR: The authorities is absolutely aware of the need to be agile and to reply swiftly to the Covid-19 menace within the nation, stated Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz (pix).

    “Many have asked me, does the government expect to see economic recovery this year? The answer to that is contingent on how well and quickly we can overcome the threat of Covid-19 in the country.

    “All Malaysians must play their part and be united in responding to this fight. As mentioned by our Prime Minister, we are a nation at war with invisible forces,” he stated in a commentary on the 2020 Gross Domestic Product (GDP) Growth Forecast right this moment.

    He stated the nation’s economic system is anticipated to get better to some extent in direction of the later half of the 12 months, and rebound in 2021.

    “Yet, draw back dangers stay because the Covid-19 scenario is unprecedented and we need to anticipate the sudden,“ stated Tengku Zafrul.

    Nevertheless, he famous that the nation has the capability and monetary house to meet future uncertainties.

    He stated Bank Negara Malaysia (BNM) will make sure that the monetary system stays secure with deep liquidity and robust buffers.

    “As it stands, the monetary system right this moment has RM121 billion in extra capital buffer, as in contrast to solely RM39 billion in the course of the international monetary disaster of 2008.

    “On the capital market aspect, the Securities Commission and Bursa Malaysia will proceed to make sure that markets keep open, clear and orderly,“ he stated.

    Meanwhile, Tengku Zafrul stated Prime Minister Tan Sri Muhyiddin Yassin is anticipated to announce additional help measures for Malaysian micro-businesses and small and medium-sized enterprises (SMEs) to assist them additional mitigate the consequences of the Covid-19 pandemic.

    “This total week has seen shut engagements between the federal government and members of the enterprise group, significantly regarding micro-businesses and SMEs.

    “We have collated and thought of all suggestions, and sure areas have been recognized for fine-tuning and enhancements,“ he added.

    Tengku Zafrul stated the RM250 billion Prihatin Rakyat Economic Stimulus Package (Prihatin) introduced by the prime minister final week is anticipated to contribute an estimated 2.8% to the GDP this 12 months.

    He added that Prihatin was formulated to tackle the opposed impression of Covid-19 on the nation, pushed by three goals — defending the individuals, supporting companies and strengthening the economic system. – Bernama

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  • Legal Issues Arising From Management Of Covid-19 Patients By Ahmed Adetola-Kazeem

    Legal Issues Arising From Management Of Covid-19 Patients By Ahmed Adetola-Kazeem

    Legal Issues Arising From Management Of Covid-19 Patients By Ahmed Adetola-Kazeem 5

    Legal Issues Arising From Management Of Covid-19 Patients By Ahmed Adetola-Kazeem 6


    A lot of legal issues are bound to arise as an aftermath of the outbreak of Coronavirus otherwise referred to as COVID-19.  There is therefore a need to shed light on some of the issues that may arise and how to navigate them. This article will x-ray the rights of patients, the rights of health workers and the basic minimum obligations of the government.

    The Code of Medical Ethics in Nigeria 2008 lists acts that constitute professional negligence. Rule 29.4 of the Code outlines some of these acts as follows:-

    a)      Failure to attend promptly to a patient requiring urgent attention when the practitioner was in a position to do so;

    b)     Manifesting incompetence in the assessment of a patient;

    c)      Making an incorrect diagnosis particularly when the clinical features were so glaring that no reasonable skillful practitioner could have failed to notice them; 

    d)     Failure to advise, or proffering wrong advice to  a patient on the risk involved in a particular operation or course of treatment, especially if such an operation or course of treatment is likely to result in serious side effects like deformity or loss of organ, or function;

    e)      Failure to obtain the informed consent of the patient before proceeding on any surgical procedure or course of treatment when such consent was necessary; 

    f)       Making a mistake in treatment e.g. amputation of the wrong limb, carelessness that results in the termination of a pregnancy, prescribing the wrong drug, or dosage in error for a correctly diagnosed ailment, etc;

    g)     Failure to refer, or transfer a patient in good time, when such a referral or transfer was necessary;

    h)     Failure to do anything that ought reasonably to have been done under any circumstance for the good of the patient;

    i)       Failure to see a patient as often as his medical condition warrants or to make appropriate comments in the case notes of the practitioner’s observations and prescribed treatment during such visits. It also includes failure to communicate with the patient or with his relatives as may be necessary with regards to any developments, progress or prognosis in the patient’s condition.

     

    Rule 11.2 of the 2008 Code of Medical Ethics in Nigeria provides that, “A physician shall preserve absolute confidentiality on all he knows about his patient even after the patient has died.”

                 Rule 44 of the Code of Medical Ethics has extensive provisions on Confidentiality and when disclosure of information can be made. The Rule provides in part that:

    “Disclosure of information on the patient by the doctor can only be made following an informed consent of the patient in writing. It is clear that the ethic covers even such information as induced abortion, venereal disease, attempted suicide, concealed birth and drug dependence but would exclude situations in which a discretionary breach of confidentiality is necessary to protect the patient or the community from danger and this must be made clear to the patient at the time of the confidential disclosure. Where statutory notification of disease is involved, the consent of the patient is not required.”            

                Confidentiality: To Disclose Identity Of Covid-19 Patients Or Not To Disclose?

    COVID-19 is an infectious disease caused by a newly discovered coronavirus. Most people infected with the COVID-19 will experience mild to moderate respiratory illness and recover without requiring special treatment.  Older people, and those with underlying medical problems like cardiovascular disease, diabetes, chronic respiratory disease, and cancer are more likely to develop serious illness.[1]

    The Federal Ministry of Health confirmed the first case of COVID-19 in Nigeria on the 27th of February 2020. It is the case of an Italian citizen who works in Nigeria and returned from Milan, Italy to Lagos, Nigeria on the 25th of February 2020. In reaction to the report, the social was divided between those who want the name of the Italian disclosed and those that preferred it remains confidential. The outcry was even more when the Chief of Staff to the President tested positive according to reports from various media houses[2], but the Minister of Health decided to keep mute on the identity of the President’s aide who contacted the virus, citing confidentiality.

    It will ordinarily be wrong to disclose the medical status of someone infected with COVID-19, for instancethe case of the Italian who was the index case. However in view of the proviso to Rule 44 of the Code of Medical Ethics 2008 which provides that a discretionary breach of confidentiality is necessary in order to protect the community from danger, I am of the view that the test results of popular figures who hold strategic offices like the Chief of Staff to the President or a Governor must be disclosed to guaranty public safety. This is necessary in view of the countless number of people from all works of life they come in contact with on a daily basis.  It will be correct to have made their status public in the overriding interest of the public, since it will enable those who have come in contact with them isolate, just like we have seen in the cases of the British Prime Minister, the Bauchi State Govenor, Prince Charles, the First Lady of Canada and many more. We must commend those who announced their status in public themselves-it is the best thing to do in the interest of humanity

    The World Health Organization (WHO) provides additional guidelines for the management of coronavirus patients specifically.[3]

    Health workers should:

    •follow established occupational safety and health procedures, avoid exposing others to health and safety risks and participate in employer-provided occupational safety and health training; 

    •use provided protocols to assess, triage and treat patients; 

    •treat patients with respect, compassion and dignity; 

    •maintain patient confidentiality; 

    •swiftly follow established public health reporting procedures of suspect and confirmed cases; 

    •provide or reinforce accurate infection prevention and control and public health information, including to concerned people who have neither symptoms nor risk;

    •put on, use, take off and dispose of personal protective equipment properly;

    •self-monitor for signs of illness and self-isolate or report illness to managers, if it occurs; 

    •advise management if they are experiencing signs of undue stress or mental health challenges that require support interventions; and 

    •report  to  their  immediate  supervisor  any  situation  which  they  have  reasonable  justification  to  believe presents an imminent and serious danger to life or health.

     

    Doctors and health workers in Nigeria must endeavor to digest the guidelines in the Code of Medical Ethics as well as the WHO Guidelines for management of Coronavirus victims and ensure they work strictly by their provisions. A breach of these duties have dire consequences. 

    Options Available To Covid-19 Patients Who Are Victims Of Medical Negligence

    A Coronavirus patient who has suffered medical negligence has a number of options:

    1. He could file a complaint with the regulatory body (e.g. the Medical and Dental Council of Nigeria, in the cases involving a Doctor). The Doctor will in the first instance be investigated by the Medical and Dental Practitioners Investigation Panel, after which he will be tried by the Medical and Dental Practitioners Disciplinary Tribunal. If found culpable,  the Doctor may be warned, suspended from practicing for a period not exceeding 6 months or in very serious cases, have his name can be removed from the Register of Medical Practitioners. The Medical and Dental Practitioners’ Disciplinary Tribunal does not award monetary damages.

    2. A suit can be filed against the Medical Doctor, the Hospital, Agency or Government in the High Court for Medical Negligence and monetary damages will be awarded if the Defendant(s) are found culpable.

          3.  If there is an element of Crime, a report could be made to the Police who would conduct Criminal Investigation and where the investigation reveals gross negligence, recklessness or wanton disregard for life of the victim, the police can prosecute or forward the case file to the office of the Attorney General of the State for possible prosecution in deserving cases.  

    A Need To Do More For Doctors And Other Professionals In The Health Sector

    Health workers are at the front line of any outbreak response and as such are exposed to hazards that put them at risk of infection with an outbreak pathogen (in this case COVID-19). Hazards include pathogen exposure, long working  hours,  psychological  distress,  fatigue,  occupational  burnout,  stigma,  and  physical  and  psychological violence. 

    During the outbreak of Ebola more than 500 health care workers died in Guinea, Liberia and Sierra-Leone alone. We also lost some of our finest doctors and health workers to the disease in Nigeria, the most prominent being Dr. Stella Adadevoh, who is credited with having curbed a wider spread of the Ebola virus in Nigeria by placing the index patient, Patrick Sawyer, in quarantine despite pressures from the Liberian  government. As we speak, The coronavirus is waging a war of attrition against health care workers throughout the world, but nowhere is it winning more battles at the moment than in Italy and in Spain, where protective equipment and tests have been in severely short supply for weeks. In Spain 13.6% (6500) of those affected with the coronavirus are health workers and in Italy 10% (7400) of those affected with the virus are health workers. [4] In New York dozens of health workers have been affected with the virus, while hundreds are in quarantine.[5] According to reports filtering in as the time of concluding this article, three health workers have been infected with COVID-19 in Abuja, Nigeria.[6]

    Human Rights Watch research into health system collapse in Hungary and Venezuela suggests the nations’ mismanaged, underfunded, and understaffed public healthcare system is poorly equipped to handle a COVID-19 outbreak. Patients and medical experts described a lack of basic hygiene protocol, lack of isolation rooms, and a shortage of health professionals, doctors and nurses, and medical supplies in general.

    The situation is not too different in Nigeria at the moment and except something drastic is done we might be witnessing a devastating effect of the pandemic. Nigeria’s, public health capacity has been diminished by large scale public sector corruption. Medical personnel lack surgical masks and local supplies have been diverted and shipped to other markets partly due to corruption. Many states are ill-prepared to combat the impeding surge in patients. A senior health worker with a government hospital in Abuja, in an interview with Sahara Reporters, lamented the lack of quality Personal Protective Equipment for them, adding that government must invest in the protection of health workers at the frontline of the battle against the virus. He said, “The unfortunate thing is that the government is not providing us with what to work with. It is sad that our PPE are not up to the world standard and can be penetrated by viruses. Some of us (health workers) have to use our personal funds to purchase gloves as we do not trust the ones government supplied. Nigerians should please remember us in their prayers and government should provide us with what we really need to work.” [7]

    There was report that in Bauchi State a Coronavirus patient rejected the isolation centre at the Bauchi Specialist Hospital and went back home while describing it as “too dirty”.[8]  

    It is disappointing to hear that the hazard allowance for doctors and health workers is N5,000 per month in Nigeria. The amount is very paltry compared to the risks and the attendant emotional and psychological stress suffered by the health-care workers (HWCs) particularly during monumental outbreaks like this. Unfortunately, when a patient is mismanaged, these doctors and health workers bear the burden of paying huge compensation and sometimes losing their jobs. More importantly, the brain-drain in the health sector is monumental, almost all my friends who are doctors, work abroad. Unfortunately, there are concerted efforts by the US Government to engage foreign Doctors to further fortify its health work force as COVID-19 ravages. Many young Nigerian doctors are already considering the offers because the Nigerian government has paid little attention to their welfare and the welfare of the general health workforce. To stop the exodus of our doctors, who are already in short supply, the government must act fast by improving their welfare packages in line with acceptable international standards.

    The psychological needs of doctors and health workers are also often ignored. Unsafe working conditions contribute to health worker attrition in many countries due to work-related illness and injury and the resulting fear of health workers of occupational infection, including from HIV and Tuberculosis. The 2006 World Health Report – Working Together for Health reported on a severe health workforce crisis in fifty-seven countries, most of them in Africa and Asia. [9]

    Protecting the occupational health of health workers is critical to having an adequate workforce of trained and healthy health personnel. Governments at the Federal and State levels are urged to do more by complying fully with the World Health Organization’s guidelines regarding the Rights of Health Workers while combating COVID-19. Some of the rights are:

    ·         assume overall responsibility to ensure that all necessary preventive and protective measures are taken to minimize occupational safety and health risks;

    ·         provide information, instruction and training on occupational safety and health, including; Refresher training on infection prevention and control(IPC); and Use, putting on, taking off and disposal of personal protective equipment(PPE);

    ·         provide adequate IPC and PPE supplies (masks, gloves, goggles, gowns, hand sanitizer, soap and water, cleaning supplies) in sufficient quantity to healthcare or other staff caring for suspected or confirmed COVID-19 patients, such that workers do not incur expenses for occupational safety and health requirements;

    ·         not be required to return to a work situation where there is continuing orserious danger to life or health, until the employer has taken any necessary remedial action;

    ·         allow workers to exercise the right to remove themselves from a work situation that they have reasonable justification to believe presents an imminent and serious danger to their life or health. When a health worker exercises this right, they shall be protected from any undue consequences; 

    ·         honour the right to compensation, rehabilitation and curative services if infected with COVID-19 following exposure in the workplace. This would be considered occupational exposure and resulting illness would be considered an occupational disease,

    ·         provide access to mental health and counselling resources; and 

    ·         enable co-operation between management and workers and/or their representatives. Etc.

    In conclusion, professional care givers for COVID-19 patients should uphold four basic principles formulated by Beauchamp and Childress in their book ‘Principles of Biomedical Ethics’ in order to protect themselves from liability for negligence. The four basic principles are autonomy, beneficence, non-maleficence and justice.

    Autonomy: People have the right to control what happens to their bodies. This principle simply means that an informed, competent adult patient can refuse or accept treatments, drugs, and surgeries according to their wishes. People have the right to control what happens to their bodies because they are free and rational. And these decisions must be respected by everyone, even if those decisions aren’t in the best interest of the patient.

    Beneficence: All healthcare providers must strive to improve their patient’s health, to do the most good for the patient in every situation. But what is good for one patient may not be good for another, so each situation should be considered individually. And other values that might conflict with beneficence may need to be considered.

    Non-maleficence: “First, do no harm” is the bedrock of medical ethics. In every situation, healthcare providers should avoid causing harm to their patients. You should also be aware of the doctrine of double effect, where a treatment intended for good unintentionally causes harm. This doctrine helps you make difficult decisions about whether actions with double effects can be undertaken.

    Justice: The fourth principle demands that you should try to be as fair as possible when offering treatments to patients and allocating scarce medical resources. You should be able to justify your actions in every situation. For instance, it will amount to a professional misconduct for a Health-care Worker to remove a poor man from the ventilator because a Senator was rushed in. 

    Ahmed Adetola-Kazeem is a partner in Adetola-Kazeem Legal Practice and specializes in Medical and Health Law

    Email: aadetolakazeem@gmail.com;aadetolakazeem@gaklp.com

    [1] https://www.who.int/health-topics/coronavirus#tab=tab_1(Accessed on the 28th of March 2020)

    [2] https://businessday.ng/coronavirus/article/abba-kyari-tests-positive-for-coronavirus-buhari-negative/

    https://www.channelstv.com/2020/03/24/buharis-chief-of-staff-abba-kyari-reportedly-tests-positive-for-coronavirus/ (Accessed on the 28th of March 2020)

    [3] Coronavirus Disease (Covid-19) Outbreak: Rights, Roles and Responsibilities Of Health workers, Including Key Considerations For Occupational Safety And Health”. https://www.who.int/docs/default-source/coronaviruse/who-rights-roles-respon-hw-covid-19.pdf?sfvrsn=bcabd401_0   (Accessed on the 26th of March 2020)

    [4] https://abcnews.go.com/Health/wireStory/collapsing-virus-pummels-medics-spain-italy-69789413 (Accessed on 26th March 2020)

    [5] https://www.washingtonpost.com/health/covid-19-hits-doctors-nurses-emts-threatening-health-system/2020/03/17/f21147e8-67aa-11ea-b313-df458622c2cc_story.html (Accessed on 28th of March 2020)

    [6] http://saharareporters.com/2020/03/28/exclusive-two-nurses-one-doctor-infected-coronavirus-abuja-hospital

    [7] Supra

    [8] https://www.dailytrust.com.ng/coronavirus-patient-rejects-bauchi-isolation-centre-returns-home.html (Accessed on 28th March 2020)

    [9] https://www.who.int/occupational_health/topics/hcworkers/en/(Accessed on 26th March 2020)

     

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  • Residents In Lagos, Abuja, Can Still Withdraw Cash During Lockdown, Minister Says

    Residents In Lagos, Abuja, Can Still Withdraw Cash During Lockdown, Minister Says

    ATM withdrawal
    ATM withdrawal

    Residents In Lagos, Abuja, Can Still Withdraw Cash During Lockdown, Minister Says 7ATM withdrawal


    A joint statement by Minister of Finance, Zainab Ahmed, and Governor of Central Bank of Nigeria, Godwin Emefiele, has said e-payment and ATM platforms will remain open during the restriction on movement in Lagos, FCT and Ogun State.

    The monetary and fiscal policy heads said exemptions have been obtained from President Muhammadu Buhari to allow very skeletal operations in the financial system and money markets.

    They directed that all relevant staff of affected outfits and agencies should look out for further instructions from their immediate bosses.

    The statement reads, “To ensure that Nigerians can still perform online transactions and use ATMs whilst observing these restrictions, we will like to inform the general public and all affected stakeholders that we have obtained exemptions from the President to allow very skeletal operations in the Financial System and Money Markets in order to keep the system in light operations during this time.

    “We are mindful of the difficulties these restrictions would bring on ordinary Nigerians and are grateful to the President for approving these exemptions, which should help ease some of these burdens.

    “We urge all Nigerians to be patient, cooperative and united as all hands are on deck to defeat this virus.”

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  • Vanguard economic and market outlook for 2019: Down but not out

    Vanguard economic and market outlook for 2019: Down but not out

    In its annual global economic and market outlook, Vanguard outlines its expectations for growth, inflation, monetary policy, and more.
    Vanguard economic and market outlook for 2019: Down but not out
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  • Oil Benchmark Slashed To $30 Per Barrel By Nigerian Government

    Oil Benchmark Slashed To $30 Per Barrel By Nigerian Government

    Oil Benchmark Slashed To $30 Per Barrel By Nigerian Government 8

    Oil Benchmark Slashed To $30 Per Barrel By Nigerian Government 9


     

    The Nigerian Government on Wednesday proposed $30 per barrel of oil so as to work the 2020 national budget around that.

    The announcement was made by the Minister of Finance, Zainab Ahmed, in Abuja.

    Ahmed advised a review of the 2020 budget using a $30 per barrel price benchmark in favour of the previous $57.

    She also said, “The privatisation proceeds will be cut by 50 per cent, based on the adverse economic outlook on sales of the Independent Power Projects and other assets.

    “The Federal Government is working on Fiscal Stimulus Measures to provide fiscal relief for taxpayers and key economic sectors.

    “We will incentivise employers to retain and recruit staff during the economic downturn.

    “We will stimulate investment in critical infrastructure; review non-essential tax waivers to optimise revenues, and compliment monetary and trade interventions to respond to the crisis.”

     

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    SaharaReporters, New York

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    Oil Benchmark Slashed To $30 Per Barrel By Nigerian Government
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    http://saharareporters.com/2020/03/25/oil-benchmark-slashed-30-barrel-nigerian-government

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