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    Nigeria’s capital market is set to adopt a T+1 settlement cycle from May 29

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    Ex Super Eagles Star Henry Nwosu Passes Away at 62

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    Domestic Airfares Set to Rise as Aviation Fuel Hits N1,800/Litre

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    Iran Warns Civilians: Stay 1 km Away from US and Israeli Linked Banks in Middle East

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    President Tinubu Nominates Lamido Abubakar Yuguda as CBN Deputy Governor

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    Providus Bank Exceeds CBN Recapitalisation Requirements, Capital Base Hits ₦65 Billion

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    Nigeria’s capital market is set to adopt a T+1 settlement cycle from May 29

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    Deep Capital Approves Capital Increase, Restructuring Plnn

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    CBN Bars Large Loan Defaulters from New Credit and Guarantees

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    President Tinubu Nominates Lamido Abubakar Yuguda as CBN Deputy Governor

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    Iran Warns of $200 Oil as IEA Plans to release 400m Barrel Reserves

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    British Airways launches free Starlink Wi-Fi – first UK airline to offer super-fast internet in the skies

    Providus Bank Exceeds CBN Recapitalisation Requirements, Capital Base Hits ₦65 Billion

    Providus Bank Exceeds CBN Recapitalisation Requirements, Capital Base Hits ₦65 Billion

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    Deep Capital Approves Capital Increase, Restructuring Plnn

    Deep Capital Approves Capital Increase, Restructuring Plnn

    Shell Confirms Ongoing Exit from South Africa

    Shell Confirms Ongoing Exit from South Africa

    Trading begins in Linkage Assurance 12.32bn share rights issue

    Trading begins in Linkage Assurance 12.32bn share rights issue

    Nigerian Breweries Partners with Indorama Ventures to Build rPET Facility in Ogun State

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    NGX Reg lifts suspension on Trading of Niger Insurance Plc’s shares

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    Dangote Refinery Raises Petrol to ₦1,175, Diesel to ₦1,620

    Dangote Refinery Hikes Petrol Price to ₦1,275 Per Litre

    Dangote Cement Profits Soar to ₦743bn on Price Increase

    African Governments Seek Fuel from Dangote Refinery

    Guinea Insurance Sees ₦2.21bn Gain in Year-End Forecast

    Guinea Insurance Plc Signs ₦5.8 Billion Rights Issue

    Nigeria’s capital market is set to adopt a T+1 settlement cycle from May 29

    Nigeria’s capital market is set to adopt a T+1 settlement cycle from May 29

    Shell Confirms Ongoing Exit from South Africa

    Shell Confirms Ongoing Exit from South Africa

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    Bitcoin and Ethereum Surges as Crypto Rebounds

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    Dangote Cement Hits ₦1 Trillion Profit, Proposes ₦45 Dividend

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    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

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    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

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    British Airways launches free Starlink Wi-Fi – first UK airline to offer super-fast internet in the skies

    British Airways launches free Starlink Wi-Fi – first UK airline to offer super-fast internet in the skies

    Nigeria’s capital market is set to adopt a T+1 settlement cycle from May 29

    Nigeria’s capital market is set to adopt a T+1 settlement cycle from May 29

    Deep Capital Approves Capital Increase, Restructuring Plnn

    Deep Capital Approves Capital Increase, Restructuring Plnn

    Abuja-Kaduna Train Derails, Several Injured

    Abuja-Kaduna Train Derails, Several Injured

    Ex Super Eagles Star Henry Nwosu Passes Away at 62

    Ex Super Eagles Star Henry Nwosu Passes Away at 62

    Domestic Airfares Set to Rise as Aviation Fuel Hits N1,800/Litre

    Domestic Airfares Set to Rise as Aviation Fuel Hits N1,800/Litre

    Iran Warns Civilians: Stay 1 km Away from US and Israeli Linked Banks in Middle East

    Iran Warns Civilians: Stay 1 km Away from US and Israeli Linked Banks in Middle East

    President Tinubu Nominates Lamido Abubakar Yuguda as CBN Deputy Governor

    President Tinubu Nominates Lamido Abubakar Yuguda as CBN Deputy Governor

    Tinubu Nominates Taiwo Oyedele as Minister of State for Finance replacing Doris Anite

    Senate confirms Taiwo Oyedele as Minister of State for Finance

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    Dangote Cement Profits Soar to ₦743bn on Price Increase

    African Governments Seek Fuel from Dangote Refinery

    Providus Bank Exceeds CBN Recapitalisation Requirements, Capital Base Hits ₦65 Billion

    Providus Bank Exceeds CBN Recapitalisation Requirements, Capital Base Hits ₦65 Billion

    Nigeria’s capital market is set to adopt a T+1 settlement cycle from May 29

    Nigeria’s capital market is set to adopt a T+1 settlement cycle from May 29

    Deep Capital Approves Capital Increase, Restructuring Plnn

    Deep Capital Approves Capital Increase, Restructuring Plnn

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN Limits New Mobile Banking Transfers to ₦20,000 in First 24 Hours

    CBN Bars Large Loan Defaulters from New Credit and Guarantees

    CBN Bars Large Loan Defaulters from New Credit and Guarantees

    President Tinubu Nominates Lamido Abubakar Yuguda as CBN Deputy Governor

    President Tinubu Nominates Lamido Abubakar Yuguda as CBN Deputy Governor

    Iran Warns of $200 Oil as IEA Plans to release 400m Barrel Reserves

    Iran Warns of $200 Oil as IEA Plans to release 400m Barrel Reserves

    NMDPRA Suspends Petrol Import Licences says Local Production Meets Demand

    NMDPRA Suspends Petrol Import Licences says Local Production Meets Demand

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    Dangote Refinery Raises Petrol to ₦1,175, Diesel to ₦1,620

    Dangote Refinery Hikes Petrol Price to ₦1,275 Per Litre

    Dangote Cement Profits Soar to ₦743bn on Price Increase

    African Governments Seek Fuel from Dangote Refinery

    British Airways launches free Starlink Wi-Fi – first UK airline to offer super-fast internet in the skies

    British Airways launches free Starlink Wi-Fi – first UK airline to offer super-fast internet in the skies

    Providus Bank Exceeds CBN Recapitalisation Requirements, Capital Base Hits ₦65 Billion

    Providus Bank Exceeds CBN Recapitalisation Requirements, Capital Base Hits ₦65 Billion

    Guinea Insurance Sees ₦2.21bn Gain in Year-End Forecast

    Guinea Insurance Plc Signs ₦5.8 Billion Rights Issue

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    Deep Capital Approves Capital Increase, Restructuring Plnn

    Shell Confirms Ongoing Exit from South Africa

    Shell Confirms Ongoing Exit from South Africa

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    Trading begins in Linkage Assurance 12.32bn share rights issue

    Nigerian Breweries Partners with Indorama Ventures to Build rPET Facility in Ogun State

    Nigerian Breweries Partners with Indorama Ventures to Build rPET Facility in Ogun State

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    NGX Reg lifts suspension on Trading of Niger Insurance Plc’s shares

    NGX Lifts Suspension on Zichis Agro as Shares Drop 50% After Adjustment

    Dangote Refinery Raises Petrol to ₦1,175, Diesel to ₦1,620

    Dangote Refinery Hikes Petrol Price to ₦1,275 Per Litre

    Dangote Cement Profits Soar to ₦743bn on Price Increase

    African Governments Seek Fuel from Dangote Refinery

    Guinea Insurance Sees ₦2.21bn Gain in Year-End Forecast

    Guinea Insurance Plc Signs ₦5.8 Billion Rights Issue

    Nigeria’s capital market is set to adopt a T+1 settlement cycle from May 29

    Nigeria’s capital market is set to adopt a T+1 settlement cycle from May 29

    Shell Confirms Ongoing Exit from South Africa

    Shell Confirms Ongoing Exit from South Africa

    Bitcoin and Ethereum Surges as Crypto Rebounds

    Bitcoin and Ethereum Surges as Crypto Rebounds

    Dangote Cement Hits ₦1 Trillion Profit, Proposes ₦45 Dividend

    Dangote Cement Hits ₦1 Trillion Profit, Proposes ₦45 Dividend

    NGX suspends trading in the shares of four listed companies

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    How does family of 6 survive with income of N250,000 a month

    Trump wins a resounding victory in first Republican primary in Iowa

    How Donald Trump won the 2024 U.S Presidential Election

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    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

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Trump cancels Biden’s security clearance, escalates Foreign aid Crackdown

Saturday, 8 February 2025, 4:59 pm
in News, World
0
Trump cancels Biden’s security clearance, escalates Foreign aid Crackdown
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In a series of rapid and bold moves, the 78-year-old billionaire has frozen aid to South Africa, the birthplace of his key donor, Elon Musk, and has appointed himself as the head of the Kennedy Center, a prestigious cultural venue in Washington. “There is no need for Joe Biden to continue receiving access to classified information,” Trump stated on his Truth Social network, adding that he was “immediately” revoking the Democrat’s security clearances and ending his daily intelligence briefings.

“JOE, YOU’RE FIRED,” he exclaimed in all caps. Traditionally, former US presidents are granted the right to receive intelligence briefings even after leaving office. Trump has also intensified his criticism of the United States Agency for International Development (USAID), which provides humanitarian aid worldwide. “THE CORRUPTION IS AT LEVELS RARELY SEEN BEFORE. CLOSE IT DOWN!” he declared on Truth Social, without presenting any evidence. USAID has faced severe scrutiny since Trump initiated a campaign, supported by Musk—who is the world’s richest person—to cut back or dismantle significant parts of the US government.

On Friday, Musk, along with Trump, shared misleading information regarding USAID’s finances and reposted images showing the agency’s signs being removed from its Washington headquarters. The Trump administration has halted foreign aid, ordered thousands of international staff to return to the US, and begun reducing USAID’s workforce from 10,000 employees to approximately 300.

Labor unions are contesting the legality of these actions, and a federal judge has temporarily paused the administration’s plan to place 2,200 USAID workers on paid leave by the weekend. Democrats argue that it would be unconstitutional for Trump to close government agencies without legislative approval.

The current US budget allocates about $70 billion for international assistance, which is a small portion of overall spending, yet it yields significant returns. USAID operates health and emergency programs in around 120 countries, including some of the world’s poorest regions, enhancing Washington’s efforts to compete for influence against rivals like China. Samantha Power, the former USAID chief under President Biden, criticized the situation in a harsh opinion piece in the New York Times, stating, “We are witnessing one of the worst and most costly foreign policy blunders in US history.”

Hard-right Republicans and libertarians have long questioned the necessity of USAID and have labeled its spending as wasteful. Additionally, Trump appointed himself as the chairman of the Kennedy Center, asserting that the venue did not reflect his values. “Just last year, the Kennedy Center featured drag shows specifically targeting our youth — THIS WILL STOP,” he wrote on Truth Social, without clarifying which show he was referencing.

Trump has consistently criticized gender-nonconforming individuals. He followed up on his promise to freeze US aid to South Africa, citing a law he claims allows farmland to be seized from white farmers, despite denials from Johannesburg. Musk has frequently criticized the South African government. Musk and his so-called Department of Government Efficiency (DOGE) have aggressively targeted agencies that Americans have typically taken for granted. While Democrats have found it challenging to counter these budget-slashing maneuvers, legal actions are slowly emerging. A judge recently blocked Trump’s attempt to overturn the constitutional guarantee of birthright citizenship and paused plans for mass buyouts of federal workers, pending arguments on Monday.

Vivian Ifunanya Gerald

Administrator and Writer

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