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UK freezes Putin, Lavrov assets over Ukraine invasion

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File photo of Russian President Putin

The UK government on Friday ordered all assets of President Vladimir Putin and his Foreign Minister Sergei Lavrov frozen over Russia’s invasion of Ukraine.

The Treasury issued a financial sanctions notice against the two men, adding them to a list of Russian oligarchs who have already had their property and bank accounts in the UK frozen.

British Prime Minister Boris Johnson earlier told his NATO partners that he was planning “imminent” sanctions against Putin and Lavrov.

Downing Street said Johnson told his counterparts that Russia’s invasion of Ukraine was a “catastrophe” and the Kremlin chief was “engaging in a revanchist mission to overturn post-Cold War order”.

Warning that Putin “may not stop there” and calling the situation a “Euro-Atlantic crisis with global consequences”, he urged leaders to cut Russia off from the SWIFT international bank transfer system “to inflict maximum pain”.

Johnson’s comments ratchet up British action this week against Russian interests including banks, businesses and billionaires, though some lawmakers and experts have said the UK is not going far enough.

And it will bring Britain more into line with the European Union, which slapped sanctions on Putin and Lavrov on Friday.

‘No British troops’

Even earlier in the day, Britain and nine other northern European defence allies from the so-called Joint Expeditionary Force (JEF) agreed in a call that further sanctions were needed on Russia.

“The leaders agreed that more sanctions were needed, including focusing on President Putin’s inner circle, building on the measures that had already been agreed,” Johnson’s office said after the meeting.

The JEF, set up in 2012, is made up of NATO members Denmark, Estonia, Iceland, Latvia, Lithuania, the Netherlands, Norway and the United Kingdom, and non-members Finland and Sweden.

It is focused on security in the “High North” region around the Arctic, the North Atlantic and the Baltic Sea area.

At a meeting of its defence ministers on Tuesday, they announced upcoming manoeuvres in the Baltic Sea to demonstrate “freedom of movement” in the strategic zone.

Johnson pledged “further UK support to Ukraine” in a phone call with President Volodymyr Zelensky on Friday morning, as Russian forces closed in on the capital, Kyiv.

Britain has said it is ready to provide Ukraine with additional military support including lethal defensive weapons, but Defence Secretary Ben Wallace ruled out sending troops.

He told BBC television that Britain would “hold the line in NATO”, adding: “I’m not putting British troops directly to fight Russian troops.

“That would trigger a European war because we are a NATO country, and Russia would therefore be attacking NATO.”

Johnson praised “the bravery and heroism of the Ukrainian people in standing up to Russia’s campaign of violence”, according to Downing Street.

“The Prime Minister committed to provide further UK support to Ukraine in the coming days as the people of Ukraine and the world continue to demonstrate that Putin cannot act with impunity,” it added.

 

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NCAA Sanctions Five Airlines Over Regulatory Breaches

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The Nigeria Civil Aviation Authority (NCAA) has initiated enforcement action against five airlines—two international and three domestic operators—for various violations of its regulations under Part 19.

The offenses include non-payment of passenger refunds within the stipulated timeframe, non-responsiveness to NCAA directives, mishandling of luggage, short-landed baggage, delayed and canceled flights, among other infractions.

Addressing journalists at the NCAA’s corporate headquarters in Abuja on Tuesday, Michael Achimugu, the Authority’s spokesman, stated that airlines must adhere to regulations regarding flight disruptions. He emphasized that failure to comply attracts sanctions.

“Although airlines are not always responsible for flight disruptions, NCAA regulations stipulate actions that airlines must take during such incidents. Failure to comply attracts various levels of sanctions,” Achimugu said.

He reminded airlines of the NCAA’s recent directive mandating refunds to passengers within 14 days for online ticket purchases and immediate cash refunds for tickets bought with cash.

The yuletide season has seen a rise in passenger complaints about delays and cancellations, largely attributed to harmattan-induced poor visibility. Achimugu clarified that airlines are not liable for cancellations due to force majeure but stressed that the enforcement actions are for cases where airlines are found at fault.

“This is harmattan season, so there is poor visibility. Flights must get canceled. This is force majeure, and the airlines do not owe passengers anything in those instances. The enforcement we are initiating today is on cases where the airline is deemed to have been at fault. More will come,” he explained.

Achimugu further disclosed that the NCAA would summon the chief executives of all airlines this week to address flight disruptions and regulatory breaches.

While the names of the sanctioned airlines were not officially revealed, sources close to the Authority identified them as Ethiopian Airways, Royal Maroc Airways, Arik Air, Aero Contractors, and Air Peace.

 

 

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FG Targets 15m Households for Conditional Cash Transfer Scheme

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The Minister of Humanitarian Affairs, Disaster Management, and Social Development, Nentawe Yilwatda, has announced the Federal Government’s plan to reach 15 million households, representing 75 million people, through its conditional cash transfer scheme.

Speaking on Monday during an interview on Channels Television’s The Morning Brief, Yilwatda explained that the initiative is part of President Bola Tinubu’s commitment to mitigating the economic hardships faced by vulnerable Nigerians.

“The president was so specific,” Yilwatda noted.

“There are policies that he brought in to see if that can ease those challenges for people at the lower end of the pyramid. One of those policies is to reach out to 15 million beneficiaries under the conditional cash transfer, targeting households rather than individuals. Each household will receive ₦25,000 monthly, paid three times a year.”

Yilwatda further clarified that the 15 million households being targeted translate to 75 million Nigerians, assuming an average of five persons per household.

So far, the Federal Government has reached five million individuals but is facing challenges in fully sanitizing the social register, particularly with the implementation of the Central Bank of Nigeria’s (CBN) policy mandating digital identities for transparency and traceability of payments.

“Currently, only 1.4 million people on the social register have digital identities. Many of those we are targeting are outside the formal banking system,” the minister disclosed.

Yilwatda emphasized that women are specifically targeted as household leaders under the program to ensure the funds are used effectively for the benefit of children and other vulnerable members of society.

The conditional cash transfer programme, which is administered under the National Social Investment Programme, had earlier been suspended by President Tinubu in January due to allegations of corruption. However, the scheme was reinstated in February, with plans to extend the initiative to an additional 12 million households.

 

 

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Fuel Price Relief: PETROAN Promises Pump Price Drop This Week

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The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has assured Nigerians of a reduction in the pump price of petrol within the week, following adjustments to the ex-depot price by key players in the industry.

 

Last week, the Nigerian National Petroleum Company (NNPC) Limited and the Dangote Refinery announced a reduction in the ex-depot price of petrol to ₦899 per litre in Lagos. Despite this, the pump price at many filling stations across the country has remained unchanged.

 

However, PETROAN President, Billy Gilly-Harry, during a Monday appearance on Channels Television’s Sunrise Daily, expressed optimism that the price change would soon reflect in retail outlets.

 

“But I believe from today when members start loading from both NNPC and Dangote at this new price reduction, it will reflect in the market,” he said.

 

Gilly-Harry lauded some members of PETROAN, particularly in Abuja, for proactively reducing their pump prices to below ₦1,000 even before the official announcement. He emphasized that while members strive to serve Nigerians by providing affordable fuel, they must maintain marginal profitability to sustain operations.

 

“We don’t encourage our members to try to sell products at a loss because our focus is to serve Nigerians. And the only way we can serve Nigerians is when we have the resources to do so. The resources can only be there if we’re making marginal profit enough to pay for the cost of money and ensure continuity in business,” he noted.

 

Addressing concerns over the delay in implementing the price reduction, Gilly-Harry explained that some retailers are still selling old stock purchased at higher prices.

 

“This reduction, if you apply it immediately, don’t forget that some of them bought at ₦970, paid transportation costs and logistics that have taken it quite high,” he said. “By the time it gets to their retail outlets, it’s quite much more than that. And so they must also sell at a profit – minimal marginal profit as provisioned by the PIA. So, that’s the reason.”

 

The PETROAN boss commended both the NNPCL and Dangote Refinery for their efforts in reducing the ex-depot price, which he described as a significant step toward easing the burden on Nigerians.

 

Nigerians are now hopeful that the price adjustment will translate into tangible relief at filling stations in the coming days.

 

 

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