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Nigeria Balances Security Needs with Sovereignty in Response to U.S. Offer

Nigeria has stated that while it is open to receiving assistance from the United States in combating Islamist insurgents, such support must fully respect its sovereignty and territorial integrity. The announcement came after U.S. President Donald Trump warned of potential “fast” military action in Nigeria over what he described as the persecution of Christians in the country. Daniel Bwala, an adviser to Nigerian President Bola Tinubu, emphasized that Nigeria welcomes international cooperation in its fight against terrorism but will not compromise its independence. “We welcome U.S. assistance as long as it recognises our territorial integrity,” Bwala said, adding that dialogue between the two nations could lead to stronger joint efforts against extremist groups. Nigeria, Africa’s most populous nation with over 200 million people, has faced years of violence from Islamist insurgents, including Boko Haram and Islamic State West Africa Province (ISWAP). These groups have carried out dea...
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Canadian Bank Fees: A Costly Affair

 

In a recent eye-opening report by North Economics, it was revealed that Canadians are paying over $7.7 billion annually in ‘excess’ bank fees. This staggering figure has sparked concern as the federal government is already taking steps to mitigate bank fees.

The Alberta-based consultancy firm’s analysis showed that the fees charged by Canada’s Big Five banks—RBC, TD, BMO, CIBC, and Scotiabank—are significantly higher than those in the U.K. and Australia. The report highlights the disparity in charges for everyday banking services, including monthly account fees, non-sufficient funds, overdrafts, and ATM usage at other banks.

Alain de Bossart, the managing director of North Economics, compared the retail banking profits to deposits ratio of 2022 between Canadian and British banks. The findings suggest that the Big Five banks in Canada had an ‘excess’ income of $7.73 billion, which translates to roughly $250 per Canadian.

The Canadian Bankers Association responded by emphasizing the value and accessibility provided by the competitive banking system in Canada. They also mentioned that a significant percentage of Canadians do not pay any account fees.

This report has intensified the dialogue on bank fees in Canada, with many calling for a more consumer-friendly approach that aligns with global standards.

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