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Russia-Ukraine: US, UK, EU, Canada Sanction Russia’s Central Bank

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The United States and its allies have imposed sanctions on Russia’s
central bank and sovereign wealth funds, effectively freezing their
assets and banning dealings with the Russian financial institutions in
the latest western move to punish Moscow for its invasion of Ukraine.

The US Department of the Treasury said on Monday the sanctions will
deprive Russian President Vladimir Putin of funds he needs for the war
in Ukraine.

“The unprecedented action we are taking today will significantly
limit Russia’s ability to use assets to finance its destabilizing
activities, and target the funds Putin and his inner circle depend on
to enable his invasion of Ukraine,” Secretary of the Treasury Janet
Yellen said in a statement.

A senior US administration official told reporters on the condition of
anonymity that freezing the central bank’s assets will weaken Russia’s
ability to keep its currency afloat amid sanctions targeting its
banking system and economic activity.

“Putin’s war chest of $630bn of reserves only matters if he can use it
to defend his currency, specifically by selling those reserves in
exchange for buying the rouble,” the official said. “After today’s
action, that will no longer be possible and ‘Fortress Russia’ will be
exposed as a myth.”

The Treasury also said in a statement that the sanctions will “disrupt
Russia’s attempts to prop up its rapidly depreciating currency by
restricting global supplies of the ruble and access to reserves that
Russia may try to exchange to support the ruble”.

The move was taken in coordination with allies, the US government
said. The United Kingdom, European Union and Canada also announced
their own penalties against Russia’s central bank.

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“This has never been done before at this scale – today we are taking a
historic step by directly censuring Russia’s central bank,” Chrystia
Freeland, Canada’s minister of finance, said in a statement on Monday.

“Canada is firmly on the side of the heroic resistance of the people
of Ukraine and we will continue to take further action to ensure
President Putin does not succeed.”

Monday’s measures came a day after Washington and its partners cut off
key Russian banks from the SWIFT financial messaging system, a network
that enables international money transfers.

Russia launched an all-out invasion of Ukraine last after a
months-long standoff in the region that saw Moscow amass as many as
200,000 troops near the Ukrainian border.

Russia initially denied US and European allegations that it was
planning to invade Ukraine, insisting that it has legitimate security
concerns about Kyiv’s deepening alliance with the West – and demanding
guarantees that Ukraine will not be allowed to join NATO.

Numerous rounds of talks between Russian, European and American
officials had failed to end the impasse.

Fighting has been intensifying across Ukraine during the past days,
with Russian troops closing in on major cities, including the capital
Kyiv and Kharkiv. More than 500,000 people have already fled Ukraine
since Russia launched its offensive, the United Nations said on
Monday.

Ukraine’s health ministry said on Sunday that 352 civilians, including
14 children, have been killed since the start of the war.

Russian and Ukrainian officials began talks at the Belarusian border
on Monday, with Kyiv demanding an immediate ceasefire and withdrawal
of Russian troops.

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NNPC Appointment: Ojulari Is A Northerner – Olayinka

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Lere Olayinka, the Senior Special Assistant on New Media and Public Communications to Nyesom Wike, the former Governor of Rivers State and current Minister of the Federal Capital Territory (FCT), has responded to the recent appointment of Bashir Ojulari as the new Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd.).

Olayinka took to X (formerly Twitter) to address discussions surrounding this leadership transition. His post aimed to clarify that President Bola Ahmed Tinubu did not dismiss Mele Kyari, a northerner, to replace him with a southerner, as some speculated. Instead, Olayinka pointed out that Ojulari, like Kyari, hails from the northern region of Nigeria.

According to Olayinka’s post on his official X account, he emphasised that Bashir Ojulari is from Kwara State, located in North Central Nigeria. Additionally, the new Board Chairman, Ahmadu Musa Kida, originates from Borno State in the North East.

His post stated: “Bashir Ojulari, the new NNPCL CEO, is a northerner from Kwara State, North Central Nigeria. The new Board Chairman, Ahmadu Musa Kida, is also a northerner, from Borno State, North East Nigeria.”

Olayinka’s statement came in response to narratives suggesting that the appointment was politically motivated to favour one region over another.

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Middle Belt Forum Condemns Uromi killings, Warns Against Retaliatory Attacks

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By Israel Bulus, Kaduna

The Middle Belt Forum (MBF) has strongly condemned the extrajudicial killing of 16 travelers in Uromi, Edo State, while warning against retaliatory violence targeting Southerners in Northern Nigeria.

In a press statement released on Tuesday, MBF Spokesman Luka Binniyat denounced inflammatory threats from individuals claiming to represent Northern interests in response to the killings.

Recalled that the victims, were allegedly armed hunters, traveling from Port Harcourt to Kano when they were attacked by a mob that accused them of being kidnappers.

“The MBF strongly condemns the unlawful killing of any Nigerian citizen, including those who lost their lives in Uromi,” the statement read. “However, we categorically reject any attempt to use this tragic incident as a pretext to unleash violence against Southerners residing in Northern Nigeria.”

The forum assured that the Middle Belt would not become a battleground for reprisals, emphasizing that it remains a safe haven for all law-abiding Nigerians. It urged community leaders and youths to remain vigilant and prevent any attempts to instigate violence, calling for anyone with such intentions to be handed over to authorities.

The MBF also reaffirmed its commitment to justice for all victims of violence across Nigeria. The statement highlighted the ongoing security challenges facing Middle Belt communities, citing persistent attacks by armed herdsmen with little government intervention.

” We hope that the swift response to the Uromi killings would serve as a precedent for broader action against criminal elements terrorizing the region.

“Thousands of our people remain in captivity, and vast portions of our land are still under the control of violent outlaws—primarily Fulani militants,” the statement noted.

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“Justice must be served across the board.”

The MBF concluded by reiterating its support for the ongoing investigation into the Uromi incident and calling for a fair and decisive crackdown on all forms of criminality across the country.

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Sokoto Lawmakers Rates Gov. Aliyu High On Project Without Loan

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BY ANKELI EMMANUEL, Sokoto

The Deputy Speaker, Sokoto State House of Assembly, Kabir Ibrahim kware, has commended governor Ahmed Aliyu for executing numerous developmental projects without taking loan from any financial institution.

Ibrahim Kware whp gave the commendation when he led other members of the State Assembly on Sallah homage to governor Aliyu, added that, the governor is very prudent in managing resources to achieve results.

“There was never a time you approached us with a request for permission to borrow money from any financial institutions whether at home or abroad,”he affirmed.

This , according to him, is worthy of commendation considering the myriad people- oriented projects the governor is executing across the state.

Speaking on behalf of the State’s Judiciary, Sokoto State Chief Judge, Justice Muhammad Sa’idu Sifawa, commended the governor for the construction of additional Court rooms at the State High Court.

Justice Sifawa also expressed delight over the way and manner the governor responds to issues affecting the Judiciary, which he said, is a clear testimony of the good working relationship existing between the three arms of government in the state.

Responding to the commendations, governor Ahmed Aliyu appealed for more synergy among the three tiers of government in the overall development of the state.

A statement by Abubakar Bawa, the Press Secretary to governor Alhmed Aliyu reaffirmed his principal’s unwavering commitment of the executive arm to providing the direly needed dividends of democracy to the people of the state,in line with his campaign promises.

The governor also urged lawmakers to present all the needs of their constituencies for prompt and diligent implementation.

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“”I want to assure you that my doors are always open for you at any given time, to listen to the demands of your people.”

He reminded them on the need to put politics aside and work together with the executive arm for the progress and even development of the people they represent.

Turning to the members of the State Judiciary, the governor appealed to Judges and Khadis to ensure the quick dispensation of justice, so as to decongest the correctional centres.

“It is worrisome to see how inmates are languishing in correctional centres for minor offences in the name of awaiting trial.

“We recently appointed seven additional Judges and 7 Khadis, which is the first in the history of Sokoto State.

“The idea is to enhance the manpower in our Judiciary so as to speed up the dispensation of justice,” he added.

The governor further assured the members of the Judiciary of his administration’s readiness to ensure their welfare at all times.

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