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UK Prime Minister, Truss, Sacks Chancellor

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British Prime Minister Liz Truss on Friday dismissed her Finance Minister, forcing Kwasi Kwarteng to carry the can for turmoil sparked by her right-wing economic platform as restive Conservatives plotted her own demise.

The chancellor of the exchequer was dismissed in person by Truss after he rushed back early from international meetings in Washington, multiple media reports said, and she was due later to hold her first Downing Street news conference.

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There was no immediate announcement of his successor, who would become Britain’s fourth Finance Minister this year.

READ ALSO: Buhari Congratulates New UK Prime Minister

Financial upheaval sparked by the new government’s September 23 plan to slash taxes — financed via billions in more borrowing — has subsided somewhat since the Bank of England intervened in bond markets.

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But the central bank was adamant it would end its bond-buying spree on Friday, and market analysts said only a bigger climbdown by Truss following Kwarteng’s disastrous budget announcement last month would avert fresh panic.

No timing was given for Truss’s news conference, but the announcement underscored the sense of peril as some Conservative MPs reportedly mobilised to unseat the new leader just five weeks since she succeeded Boris Johnson.

Kwarteng was due to conclude annual meetings of the International Monetary Fund and World Bank in Washington this weekend, after earning a rebuke from IMF chief Kristalina Georgieva on the need for “coherent and consistent” policies.

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A Treasury spokesman confirmed Kwarteng had cut short the trip “to continue work on his medium-term fiscal plan” due on October 31, after Truss held hurried meetings with her own financial advisors on Thursday in his absence.

As UK broadcasters showed live footage of Kwarteng’s British Airways plane landing at Heathrow airport, government bond yields eased in a sign that markets did expect a volte-face.

Speculation was rife that Truss would row back on planned changes to corporation tax, having already changed her mind about cutting income tax for the highest earners.

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The promised tax cuts were the centrepiece of Truss’s successful pitch to Tory party members that she rather than rival Rishi Sunak was the best candidate to replace Johnson.

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That programme now lies in tatters, and Truss’s judgement is in question more than ever, after Sunak’s warnings were entirely vindicated: higher borrowing to pay for tax cuts served only to terrify the markets and drive up borrowing costs for millions of Britons.

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Speaking in Washington on Thursday, Kwarteng had insisted that his job was safe. “I’m not going anywhere,” he said.

Truss has “total confidence” in her fellow free-marketeer, international trade minister Greg Hands told Sky News on Friday morning.

– ‘Romcom-worthy dash’ –

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However, a new YouGov poll for The Times newspaper said 43 per cent of Conservative voters wanted a new Prime Minister in Downing Street.

Other polls show a mammoth lead up opening up for the opposition Labour party, threatening electoral meltdown for the Tories.

Hands said, “I don’t recognise” multiple reports that senior Tory MPs were plotting to unseat Truss by installing a new leadership team under her defeated rival Sunak and Penny Mordaunt, who also ran to succeed Johnson.

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Pressed on whether Truss will still be in 10 Downing Street in a week, Hands told ITV, “Oh definitely.”

The Chancellor of the exchequer’s September 23 budget sparked markets chaos because of fears it would drive up state debt.

The pound tumbled to a record dollar low near parity with the greenback and bond yields surged, before stabilising.

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With the Bank of England’s costly interventions ending Friday, markets have already priced in a fresh about-turn by the government, leaving Downing Street with no room for manoeuvre.

“Do it now,” Mel Stride, chairman of the Treasury select committee in the House of Commons, urged Kwarteng and Truss earlier Friday.

“If it doesn’t happen, then the markets may have an adverse reaction to that,” he said on BBC television.

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Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown, agreed with Stride’s analysis.

READ ALSO: UK PM Truss Unveils Non-white Top Cabinet Members

“There is a sense of urgency in this move and it would seem the market is optimistic that Kwarteng’s romcom-worthy dash through the airport suggests a dramatic reconciliation between stubborn existing policy and the U-turn investors have been waiting for,” she commented.

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For many pundits, the self-inflicted damage risks proving terminal for Truss and her hard-right platform.

This is a government in meltdown and an economic policy in tatters, and frankly I think the Conservative party should be hanging their head in shame at what it’s putting the country through,” senior Labour MP Ed Miliband told Sky News.

AFP.

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JUST IN: Canadian Court Declares APC, PDP Terrorist Organisations

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The Federal Court of Canada has upheld a ruling that classified Nigeria’s two major political parties, the All Progressives Congress, APC, and the Peoples Democratic Party, PDP, as terrorist organisations, while denying asylum to a former member, Douglas Egharevba, over his decade-long affiliation with both parties.

In a judgment delivered on June 17, 2025, Justice Phuong Ngo dismissed Egharevba’s application for judicial review after the Immigration Appeal Division, IAD, found him inadmissible under Canada’s Immigration and Refugee Protection Act, IRPA.

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According to the Peoples Gazette, the Minister of Public Safety and Emergency Preparedness had argued that the APC and PDP were implicated in political violence, subversion of democracy and electoral bloodshed in Nigeria.

Court records showed that Egharevba was a PDP member from 1999 to 2007 before joining the APC, where he remained until 2017. He moved to Canada in September 2017 and disclosed his political history.

READ ALSO:Britain, Canada, France Warn Israel Over ‘Egregious Actions’ In Gaza

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Canadian immigration authorities flagged his affiliations, citing intelligence reports linking both parties to electoral violence and politically motivated killings.

The IAD based its decision largely on the PDP’s conduct during the 2003 state elections and 2004 local government polls, when the party allegedly engaged in ballot stuffing, voter intimidation and killing of opposition supporters.

The tribunal found that the party leadership benefited from the violence and took no action to stop it, meeting Canada’s legal definition of subversion under paragraph 34(1)(b.1) of the IRPA.

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Justice Ngo affirmed that mere membership in an organisation linked to terrorism or democratic subversion is enough to trigger inadmissibility under paragraph 34(1)(f) of the IRPA, even without proof of personal involvement.

READ ALSO:Canada-based Nigerian Arrested Over $610,382 Romance Scam

Egharevba’s claim that political violence was widespread across all Nigerian parties was dismissed.

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The court ruled that even flawed Nigerian elections constitute a democratic process under Canadian law and that undermining them qualifies as subversion.

The decision effectively ends Egharevba’s asylum claim, with deportation proceedings expected to follow.

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US Approves Sale Of Bombs, Others Worth $346m o Nigeria

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The United States Government has approved a possible Foreign Military Sale to Nigeria of munitions, precision bombs, precision rockets, and related equipment valued at $346 million.

The approval was contained in a statement from the Defence Security Cooperation Agency, dated August 13, but received via email on Thursday.

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The agency said it has notified the US Congress of the potential sale.

“The State Department has made a determination approving a possible Foreign Military Sale to the Government of Nigeria of Munitions, Precision Bombs, and Precision Rockets and related equipment for an estimated cost of $346 million. The Defence Security Cooperation Agency delivered the required certification notifying Congress of this possible sale today, ” the statement partly read.

READ ALSO: FEC Approves N142bn For Construction Of Bus Terminals Six Zones

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Under the request, Nigeria seeks to purchase 1,002 MK-82 general purpose 500-pound bombs; 1,002 MXU-650 Air Foil Groups for Paveway II GBU-12; 515 MXU-1006 Air Foil Groups for Paveway II GBU-58; 1,517 MAU-169 or MAU-209 computer control groups for Paveway II GBU-12/GBU-58; 1,002 FMU-152 joint programmable fuzes; and 5,000 Advanced Precision Kill Weapon System II all-up-rounds.

The Government of Nigeria has requested to buy one thousand two (1,002) MK-82 general purpose 500 lb bombs; one thousand two (1,002) MXU-650 Air Foil Groups (AFGs) for 500 lb Paveway II GBU-12; five hundred fifteen (515) MXU-1006 AFGs for 250 lb Paveway II GBU-58; one thousand five hundred seventeen (1,517) MAU-169 or MAU-209 computer control group (CCG) for Paveway II GBU-12/GBU-58; one thousand two (1,002) FMU-152 joint programmable fuzes; and five thousand (5,000) Advanced Precision Kill Weapon System II (APKWS II) all-up-rounds (AURs) (consisting of one each WGU-59/B guidance section (GS); high-explosive warhead; and MK66-4 rocket motor), ” it stated.

The package also includes non-major defence equipment such as FMU-139 joint programmable fuzes, bomb components, impulse cartridges, high-explosive and practice rockets, integration support, test equipment, and logistical and program support services.

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The DSCA said the proposed sale aims to strengthen Nigeria’s capability to address current and future threats, including operations against terrorist organisations and illicit trafficking in Nigeria and the Gulf of Guinea. It added that the deal will not alter the military balance in the region and will have no adverse impact on US defence readiness.

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The following non-MDE items will also be included: FMU-139 joint programmable fuzes; bomb components, impulse cartridges, and high-explosive and practice rockets; integration support and test equipment; U.S. Government and contractor technical, engineering, and logistics personnel services; and other related elements of logistical and program support. The total estimated program cost is $346 million.

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“This proposed sale will support the foreign policy goals and national security objectives of the United States by improving the security of a strategic partner in Sub-Saharan Africa.

“The proposed sale will improve Nigeria’s capability to meet current and future threats through operations against terrorist organisations and to counter illicit trafficking in Nigeria and the Gulf of Guinea. Nigeria will have no difficulty absorbing these munitions into its armed forces.

“The proposed sale of this equipment will not alter the basic military balance in the region, ” the statement added..

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The principal contractors for the potential sale are RTX Missiles and Defence, Lockheed Martin Corporation, and BAE Systems.

At this time, the U.S. Government is not aware of any offset agreement proposed in connection with this potential sale. Any offset agreement will be defined in negotiations between the purchaser and the contractor. Implementation of this proposed sale will not require the assignment of any additional U.S. Government or contractor representatives to Nigeria.

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“There will be no adverse impact on U.S. defence readiness as a result of this proposed sale.

“The description and dollar value are for the highest estimated quantity and dollar value based on initial requirements. Actual dollar value will be lower depending on final requirements, budget authority, and signed sales agreement(s), if and when concluded, ” the statement concluded.

 

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Israeli Military Intercepts Missile From Yemen

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The Israeli military said on Thursday it intercepted a missile fired from Yemen, with the Iran-backed Huthi rebels claiming responsibility for the attack.

Israel’s army said on Telegram that “the air force intercepted a missile launched from Yemen.

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Huthi military spokesman Yahya Saree later said the group had launched a “Palestine 2 hypersonic ballistic missile” targeting Israel’s Ben Gurion airport.

READ ALSO:Israeli Fire Kills 34 In Gaza

The Yemeni rebels have repeatedly launched missiles and drones at Israel since their Palestinian ally Hamas’s October 2023 attack on Israel sparked the Gaza war.

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The Huthis, who say they are acting in support of the Palestinians, paused their attacks during a two-month ceasefire in Gaza that ended in March, but renewed them after Israel resumed major operations.

Israel has carried out several retaliatory strikes in Yemen, targeting Huthi-held ports and the airport in the rebel-held capital Sanaa.
AFP

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