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SIR LIN DERACHI TO OPEN FLAGSHIP STORE IN ABIA STATE ON NOVEMBER 1, 2024

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Sir Lin Derachi, a rapidly growing Nigerian fashion brand known for its unique menswear and footwear, is excited to announce the grand opening of its flagship store in Abia State, scheduled for November 1, 2024. This highly anticipated event marks a significant milestone in the brand’s mission to make high-quality fashion accessible to all.

Founded by Nigerian entrepreneur Daniel Kalu Ibe, affectionately known as Big Lin, Sir Lin Derachi has quickly garnered attention for its distinctive style and commitment to quality craftsmanship. Reflecting on this achievement, Big Lin expressed, “This store opening is a dream come true. It represents the hard work, resilience, and support that have propelled Sir Lin Derachi to where it is today. I invite everyone to join us on this exciting journey, as we aim to inspire others with our mantra, ‘Make sure you’re strong.’”

Motivated by the presence of major international clothing brands around the world, Big Lin shared his aspiration to create a store of his own. “Opening this store is a dream come true because it brings me closer to standing alongside other major brands,” he said.

Big Lin also emphasized the importance of providing an authentic shopping experience for customers. “Customers coming to my store can have the confidence of buying directly from the brand’s official store, ensuring they’re getting the original product,” he explained. “Just like how big celebrities enjoy shopping from the official stores of global brands, I want my customers to have that same privilege. Here, they won’t have to worry about authenticity as they might when buying from commercial boutiques. This store is truly special—it’s a dedicated showroom where customers can take pride in visiting, enjoy the luxurious setting, and even take photos to share proudly online.”

Reflecting on the journey to this moment, Big Lin acknowledged the challenges he faced, particularly with financial constraints and managing human resources. “I’ve faced numerous challenges, especially with financial constraints and managing human factors like building awareness and getting reliable workers. But through it all, I’ve stayed focused, patient, and consistent. Hard work, steadfastness, and resilience have been my guiding principles, and I’m proud of how far we’ve come.”

The grand opening of Sir Lin Derachi’s flagship store is set to be a landmark event, showcasing the brand’s dedication to quality fashion and providing a platform for customers to experience an authentic shopping journey.

AIWA SETS TO HOST INTERNATIONAL INSURANCE CONFERENCE IN NOVEMBER

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The Africa Insurance Women Association (AIWA) is preparing to convene industry leaders, policymakers, and stakeholders globally for its upcoming international conference scheduled from November 2nd to 6th. The event will focus on the theme: “The Future of Insurance: Trends, Challenges, and Opportunities.”

Among the distinguished speakers are Dr. Awele Elumelu, Chairperson of AVON Healthcare Limited, serving as the keynote speaker; Dr. Owen Omogiafor, President and Group CEO of Transcorp Plc; Mansan Dominique Diagou from NSIA Group, Abidjan; Dr. Abiba Zakariah; and Mrs. Patty-Martin, President/CEO of the African Insurance Organisation, Nambia Re. Other notable figures include Lawrence Nazare, Managing Director of Continental Reinsurance; Lowe Richard, Executive Chairman of ACTIVE Financed and ACTIVE International, Ghana; Wale Akinyemi, Author and Consultant; Mrs. Yetunde Ilori, President of CIIN; Rashidat Adebisi, Chief Client Officer of AXA Mansard; and Dr. Amany Elmahy, CEO of Misr Insurance.

During a recent press conference, AIWA President Mrs. Nkechi Margaret-Moore emphasized the conference’s significance in uniting prominent minds from across the continent, including policymakers and industry experts, to shape the future of African insurance. She stated, “This gathering will delve into crucial issues such as the role of innovation and technology, cyber and credit risk protection, the opportunities presented by the African Continental Free Trade Area (AfCFTA), and gender diversity.”

Highlighting the importance of the event, Mrs. Margaret-Moore added, “This conference is not just about celebrating women in insurance; it is about shaping the future of insurance in Africa. The discussions, insights, and partnerships formed at this event will help define strategies for making insurance more accessible, innovative, and inclusive across the continent.”

Mrs. Ebelechukkwu Nwachukwu, Managing Director of REX Insurance Limited and Chairman of the Local Organizing Committee, noted that speakers will represent various regions of Africa, including Nigeria, Ghana, Côte d’Ivoire, South Africa, Zimbabwe, Kenya, Egypt, Uganda, and Namibia. Attendees from North, East, Central, and West Africa are also expected.

AIWA is committed to enhancing the role of women in the insurance sector across Africa. The association aims to provide a platform for networking, mentorship, and professional development, fostering a more inclusive and innovative insurance industry.

COMMOTION AMONG EDO STATE TRADERS OVER LEADERSHIP OF MARKET WOMEN ASSOCIATION

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An in-house conflict has erupted among traders in Edo State as factions vie to unseat the current leadership of the Edo State Market Women Association, headed by Mrs. Blacky Ogiamen. The discord stems from allegations of politicization within the organization and rising prices of goods.

Sources indicate that some market traders are plotting to appoint Mrs. Josephine Ebhaguejezele, the Iyaloja of Edo Market, in a move reminiscent of practices in Lagos and other states. They have accused Ogiamen of engaging in political activities, particularly her support for the administration of Governor Godwin Obaseki and the People’s Democratic Party (PDP) candidate in the recent governorship election, Dr. Asue Ighodalo.

Ogiamen has also been criticized for contributing to the high cost of foodstuffs in the state capital, attributed to the proliferation of various associations handling different commodities in the markets.

In July, Ogiamen led a protest against an alleged attempt by the Iyaloja of Lagos to impose Ebhaguejezele as the Iyaloja of Edo Market. She declared, “We are saying no to the illegal inauguration of Iyaloja of Edo State. There is a law guiding the State Market Women Association. We are the authentic market women in Edo State, and I lead the association. This association has existed for several decades, right from the reign of Oba Akenzua II till the present Oba.”

Ogiamen emphasized the historical continuity of the leadership, stating that when a leader passes away, their assistant assumes command. She recounted that during the reign of Oba Erediauwa, the monarch had invited them to the palace and designated her to lead the market women association in Edo State, which has since experienced peace.

She insisted that the association is non-political, asserting, “We are not politicians; we are voters. We support any government in power. When Comrade Adams Oshiomhole was the governor, we supported him throughout his tenure. We supported Lucky Igbinedion, Chief John Odigie Oyegun, and this government. That is how we have been piloting the affairs without crisis.”

Ogiamen expressed her concerns over the purported plans to install a different president for the Edo State Market Women Association, reinforcing that the Oba of Benin serves as their grand patron and the governor as their patron. According to her, the association’s constitution dictates that a leader can only be removed by death, reaffirming that their operations remain apolitical

TINUBU’S CABINET RESHUFFLE: THE ABOLITION OF THE MINISTRY OF NIGER DELTA AFFAIRS AND THE CREATION OF MINISTRY OF REGIONAL DEVELOPMENT

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A significant aspect of President Bola Tinubu’s recent cabinet reshuffle was the dissolution of the Ministry of Niger Delta Affairs, replaced by the newly established Ministry of Regional Development. This anticipated government reorganization involved the dismissal of six ministers, the appointment of seven new ones, and the reassignment of ten, including the abolition of the Ministry of Sports.

The decision to abolish the Ministry of Niger Delta Affairs has drawn criticism from key stakeholders in the region, particularly Ijaw leader Chief Edwin Clark. He pointed out that the ministry was originally established under former President Umaru Yar’Adua as a concession aimed at curbing militancy in the oil-producing Niger Delta region. The ministry’s establishment, along with initiatives like the Presidential Amnesty Programme (PAP) and ongoing funding for the Niger Delta Development Commission (NDDC), has contributed to a relative peace in the area.

Critics warn that the scrapping of the Niger Delta Ministry and the formation of the Regional Development Ministry should not be perceived by the Federal Government or Niger Delta stakeholders as a reduction in efforts to promote development and maintain stability in the oil-rich region. They argue that this shift represents a paradigm change designed to establish a federally-funded development agenda for all six geopolitical zones in Nigeria. However, stakeholders insist that this change must not lead to the marginalization of the Niger Delta.

Concerns have also been raised regarding the potential rebranding of the NDDC as merely a Development Commission for the South-South region, a suggestion made by a presidential spokesperson. They assert that the NDDC’s mandate is specifically to focus on the development of oil-producing areas, encompassing nine states—Rivers, Delta, Akwa Ibom, Bayelsa, Cross River, and Edo in the South-South, as well as Abia and Imo in the South-East, and Ondo in the South-West. There are plans for additional states like Anambra, Kogi, and Lagos to join the NDDC when they commence oil production in commercial quantities.

For the Ministry of Regional Development to effectively meet the needs of Nigerians, it must prioritize equity and ensure balanced development across all geopolitical zones. This includes establishing respective development commissions tailored to address the unique requirements of each zone through federal intervention.

To facilitate this, stakeholders are urging the National Assembly to expedite the process of forwarding bills to President Tinubu for the creation of the South-South Development Commission (SSDC) and the North-Central Development Commission (NCDC). These commissions should complement the existing ones for the North-East, North-West, South-East, and South-West.

Additionally, there is a call for the National Assembly to adopt a vigilant approach to guarantee that funding and project execution are equitable and free from manipulation by sectional interests or corrupt officials. The guiding principle must be equity and even development for all regions.

FEMALE ENTREPRENEURS URGED TO LEVERAGE NIGERIA STARTUP ACT FOR BUSINESS GROWTH

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Experts in business growth have called on female entrepreneurs in Nigeria to capitalize on the Nigeria Startup Act, 2022, which empowers businesses utilizing digital technology for rapid expansion. The stakeholders emphasized that with advancements in Artificial Intelligence (AI), machine learning, and social media, women can seize global opportunities to grow their businesses in both local and international markets.

Speaking at a workshop themed “Women Shaping the Future of Digital,” organized by ITC SheTrades, UPS Women Exporters, and the Nigerian Export Promotion Council (NEPC) in Lagos, notable figures included Mr. Ololade Otayemi, Founder of Orbra Company; Kritee Sharrma, Project Manager of SheTrades and UPS Women Exporters Programme; and Mr. Michael Umoh, Managing Director of UPS Nigeria.

The speakers argued that empowering women to leverage digital technologies could significantly benefit Nigeria, as women have demonstrated exceptional entrepreneurial capabilities. Mr. Otayemi noted, “One of the biggest policies shaping the digital landscape is the Nigeria Startup Act, 2022. It empowers businesses leveraging digital technology to grow faster. We want to ensure that women are not left behind in this era of digital transformation. With the advent of AI, machine learning, and social media, we aim to help women scale their businesses locally and export their products and services. Empowering women ultimately empowers families and, in turn, strengthens the nation.”

Mr. Umoh highlighted the workshop’s purpose: “This event aims to reach out to women entrepreneurs in Nigeria, creating a platform for them to showcase their skills and businesses, while facilitating opportunities to export their products and connect with foreign partners. With SheTrades, we have collaborated with numerous women and recognized that a key challenge they face is showcasing their businesses internationally. UPS is here to provide the necessary leverage for these women to establish partnerships within and outside the country.”

Sharrma added, “Women often juggle their professional lives with family and domestic responsibilities, which can hinder their access to finance. Many women have approached me about their struggles to obtain traditional collateral, limiting their ability to access mainstream financial services. As Nigeria approaches a digital revolution, we see a pressing need for tailored digital skills and access to new tools. That’s why our partners, including UPS and NEPC, have organized this workshop to support women in navigating this transition.”

This initiative underscores the importance of equipping female entrepreneurs with the necessary tools and resources to thrive in an increasingly digital marketplace, fostering a more inclusive and robust economy in Nigeria.

NIGERIA AT A CROSSROADS: THE URGENT NEED TO TRANSITION FROM FOSSIL FUELS TO RENEWABLE ENERGY

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Nigeria’s reliance on fossil fuels has long powered its economy, but the environmental and health costs of this dependence are mounting. As global pressures to adopt cleaner energy intensify, Nigeria stands at a critical juncture, with experts urging swift and bold action from government and industry leaders.

In a recent call to action, Environmental and Sustainability Consultant Daniel E. Bakpa highlighted the severe health impacts associated with fossil fuel use in Nigeria. With air pollution levels among the highest in Africa, the country is witnessing rising cases of respiratory diseases. The World Health Organization (WHO) reports over 140,000 annual child deaths related to pneumonia linked to air pollution. In the Niger Delta, the ramifications of oil extraction are devastating, with oil spills and gas flaring leading to elevated toxin levels in the air, soil, and water, exacerbating health risks for local communities.

A Roadmap for Renewable Energy and Clean Transportation

Experts argue that establishing a stable and renewable energy supply could address several of Nigeria’s energy challenges. Currently, over 85 million Nigerians lack access to grid electricity, making investment in solar, wind, and hydroelectric power imperative for providing reliable and cleaner energy. Nigeria’s abundant sunlight, particularly in the northern regions, positions the country well for large-scale solar projects that could support households, industries, and electric vehicles (EVs).

Revitalizing Nigeria’s automotive industry to meet the rising demand for EVs could also play a crucial role. By supporting local manufacturers like Innoson Vehicle Manufacturing, Nigeria could reduce its dependency on imported fossil fuel vehicles, create jobs, and contribute to the global shift toward electric mobility. Implementing strict regulations on fossil-fuel vehicle imports, coupled with incentives to boost EV adoption, could further this transition.

Stricter Penalties for Gas Flaring and Environmental Regulations

While the Nigerian Petroleum Industry Act of 2021 introduced penalties for gas flaring, enforcement remains a significant challenge. Stricter fines and mandated gas-capture technologies are essential to curb this practice. In 2022 alone, climate-induced flooding caused an estimated $9 billion in damages across Nigeria, underscoring the urgent need for effective climate impact mitigation through robust environmental regulations and sustainable practices.

International Partnerships and Public Awareness

Nigeria’s transition to cleaner energy would benefit from international alliances, such as partnerships within the African Union and support from climate-focused organizations like the United Nations Environment Programme (UNEP). Public awareness initiatives promoting the benefits of clean energy could further encourage the adoption of electric vehicles and renewable energy sources.

The message from sustainability experts is clear: Nigeria has a unique opportunity to lead Africa’s transition to cleaner energy and mitigate the health risks associated with fossil fuels. Immediate action toward renewable energy infrastructure, stringent environmental policies, and an informed public are critical to securing a healthier and more sustainable future for the nation

BENEFICIAL ICONS CLUB HOLDS AGM, ELECTS NEW EXECUTIVE COUNCIL AND ANNOUNCES FUTURE PROJECTS

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The Beneficial Icons Club recently convened its Annual General Meeting (AGM) at the prestigious Equity Resort in Ijebu-Ode, South-West Nigeria. Centered on the theme “Iconic Evolution: United Against Threats and Enhancing Collective Security,” the event included in-depth discussions about the club’s future direction and election of a new Executive Council.

Mr. Maxwell Fagbemi was re-elected as Club President, reflecting the members’ confidence in his leadership for another two years. Other members elected to the Executive Council are Obinna Ubanekwo as Vice President, Martin Ekpeke as Secretary General, Ahmed Salau as Financial Secretary, and Gbenga Badmus as Welfare/Provost Secretary.

In his address, President Fagbemi thanked the members for their support and stressed the importance of unity in achieving the club’s vision. He noted the challenges the club had faced and the milestones achieved over the past year, setting ambitious goals for the future.

“This is our fourth AGM, and we’ve made significant strides. We’ve overcome internal differences and emerged stronger. Our focus now is on realizing our full potential, and we’re excited about the future,” Fagbemi stated.

One of the club’s most anticipated projects is the development of Icon Estates, a property designed to house the club’s clubhouse and serve as a venue for relaxation, events, and social gatherings. This project aims to generate revenue and expand the club’s offerings for members.

As the Beneficial Icons Club progresses, its members remain dedicated to fostering strong relationships, supporting one another, and positively impacting their community.

NIGERIAN ARMY STRESSES ESSENTIAL COLLABORATION IN COUNTERING VIOLENT EXTREMISM

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The Nigerian Army has reinforced the critical importance of collaborative efforts to combat violent extremism, which remains a serious threat to stability in Africa and globally. Major General Taiwo Adedoja, speaking at the launch of the 2024 Countering Violent Extremism Course in Lagos, stressed the shared responsibility needed to confront such security challenges. He warned that violent extremism threatens human rights, peace, and long-term prosperity, aligning with former UN Secretary-General Ban Ki-Moon’s insights on the broader societal impacts of terrorism.

The two-week training, funded by the UNDP and the Japanese government, equips military and civilian participants with strategies for preventing and countering violent extremism. Major General Adedoja noted that the program includes instruction on effective approaches and counter-narratives, enabling participants to build resilience and foster inclusivity within vulnerable communities.

Acknowledging the initiative’s collaborative foundation, Major General Adedoja recognized the role of entities like the Martin Luther Agwai International Leadership and Peacekeeping Centre (MLAILPKC), the UNDP, and the Japanese government. This alliance demonstrates the Nigerian Army’s commitment to promoting global peace, particularly by training individuals for deployment to areas impacted by conflict.

Guest of Honor Major General Wisdom Etuk commended the joint effort, emphasizing that addressing the root causes of extremism requires collective action. He noted that the program aligns with the UN’s Plan of Action to Prevent Violent Extremism, which promotes comprehensive strategies beyond traditional security responses.

UNDP representative Mr. Mathew Alao reinforced the agency’s dedication to this initiative, seeing the program as a vital tool in combating extremism. Similarly, Japan’s Defense Attaché in Nigeria, Lieutenant Colonel Morita Tatsuya, reiterated Japan’s commitment to supporting peace and capacity-building efforts across Africa, highlighting the strong defense partnership between Japan and Nigeria.

This partnership underscores the importance of coordinated, multidimensional approaches in the fight against violent extremism and affirms the Nigerian Army’s commitment to a stable and peaceful future for the region.

Nigerian Army’s Collaborative Approach to Combat Violent Extremism

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The Nigerian Army has highlighted the essential need for collaboration in countering violent extremism, a persistent threat to Africa and global stability. Major General Taiwo Adedoja, at the inauguration of the 2024 Countering Violent Extremism Course at the Nigerian Army School of Finance and Administration in Lagos, emphasized the collective responsibility required to address these challenges, stating that extremism undermines human rights and hinders sustainable peace, stability, and prosperity. He echoed former UN Secretary-General Ban Ki-Moon’s sentiment on the broader impact of terrorism beyond immediate security threats.

The two-week course, funded by the UNDP and the Japanese government, aims to provide military personnel and civilians with knowledge and strategies to prevent and counter violent extremism. According to Major General Adedoja, the program will cover comprehensive approaches to violent extremism, best practices, and counter-narratives, helping participants foster resilience and inclusivity in communities prone to extremism.

Highlighting the collaborative nature of the initiative, Major General Adedoja acknowledged the role of partnerships with entities like the Martin Luther Agwai International Leadership and Peacekeeping Centre (MLAILPKC), the UNDP, and the Japanese government. This coalition exemplifies the Nigerian Army’s commitment to global peace and stability, particularly in training personnel for deployment in conflict-prone areas.

The Guest of Honor, Major General Wisdom Etuk, commended these collaborative efforts, affirming that only through a collective approach can the root causes of violent extremism be effectively addressed. He stressed that the program aligns with the UN’s Plan of Action to prevent violent extremism, which advocates for a broad approach, including preventive measures beyond security-based responses.

Representing the UNDP, Mr. Mathew Alao reiterated the agency’s commitment to this partnership, viewing the course as a powerful tool in tackling one of today’s most critical challenges. Additionally, Japan’s Defense Attaché in Nigeria, Lieutenant Colonel Morita Tatsuya, reaffirmed Japan’s support for Africa’s peace and capacity-building initiatives, underscoring the longstanding defense cooperation between Japan and Nigeria.

This multi-faceted collaboration underscores the importance of united, comprehensive measures in the fight against violent extremism and the Nigerian Army’s dedication to a peaceful and secure future for the region

Addressing Nigeria’s Education Sector Crisis: Strategic Reforms for Sustainable Growth

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Nigeria’s education sector is grappling with complex, urgent issues, including low quality, inadequate funding, limited access, and an outdated curriculum. A recent World Bank report highlights the sector’s severe underfunding, with only about 7% of the federal budget allocated to education in 2024—far below UNESCO’s recommended 15-20% for effective change. This funding gap has exacerbated challenges across all levels of education, impacting the economy and contributing to unemployment, poverty, and inequality. To boost Nigeria’s global competitiveness, transformative reforms in education are critical.

The appointment of Dr. Tunji Alausa as Nigeria’s new Minister of Education marks a significant commitment to educational reform. His selection underscores a focus on competency, experience, and integrity, signaling a shift toward impactful policies that emphasize transparency and accountability. Dr. Alausa’s leadership offers hope for essential reforms that could reshape Nigeria’s educational landscape.

Primary Education: Challenges and Solutions Over 10.5 million Nigerian children are out of school, the highest rate globally, with the majority in the Northern regions where poverty and conflict are prevalent. Primary schools often lack basic resources, from clean water and classrooms to teaching materials, which discourages learning. To address this, extensive policy changes are required, alongside funding security for primary education. Local governments (LGAs) are tasked with primary education funding, yet this remains largely unfeasible in practice. A cohesive policy where all levels of government contribute to funding primary education could ensure consistency, while enhanced school inspectorates can uphold standards.

Secondary Education: Bridging the Gaps Low transition rates and high dropout rates plague secondary education, driven by poverty, child labor, and poor infrastructure. With limited access to science laboratories, many secondary students lack the foundation for careers in STEM fields, vital for Nigeria’s future. Targeted interventions are needed, particularly for marginalized communities. For example, the Better Education Service Delivery for All (BESDA) program, which supports school re-enrollment, has shown success in states like Kano and Katsina. Additionally, initiatives aimed at increasing girls’ enrollment are essential, as girls constitute over 60% of out-of-school children. Gender-focused programs can help reduce educational disparities and promote inclusivity.

Tertiary Education: Enhancing Quality and Relevance In tertiary institutions, Nigerian universities face overcrowded classrooms, limited research funding, and frequent staff strikes. Inadequate research support and underqualified teaching staff have limited Nigeria’s academic output. With a graduate unemployment rate of 33%, there is a glaring disconnect between university curricula and market-relevant skills. Enhancing teacher recruitment, training, and professional development is crucial to ensure educators possess the expertise needed for high-quality instruction.

Six Focus Areas for Education Reform Immediate reforms across six areas can lay the foundation for a stronger education system in Nigeria:

  1. Funding Primary Education: Secure, multi-tier government funding for primary education and revitalized school inspectorates to monitor standards.
  2. Addressing Out-of-School Children: Targeted interventions in rural and marginalized areas, as well as programs like BESDA, to re-enroll children.
  3. Promoting Gender Parity: Programs focused on girls’ education to reduce dropout rates and encourage completion.
  4. Establishing Quality Standards: Setting benchmarks and accountability systems across educational levels to drive excellence.
  5. Teacher Training and Certification: Enhancing recruitment, certification, and ongoing development for teachers, with a focus on skill-building.
  6. Expanding Access and Equity: Infrastructure and policy support for underserved areas to bridge the urban-rural education gap.

With Dr. Alausa at the helm, there is renewed optimism for meaningful reforms that will drive education forward, fostering a generation equipped with the skills and knowledge needed for Nigeria’s socio-economic growth

FCCPC ADDRESSES ONLINE BANKING DISRUPTIONS, CALLS FOR SWIFT RESTORATION OF SERVICES

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The Federal Competition and Consumer Protection Commission (FCCPC) has raised significant concerns over the ongoing disruptions in Nigeria’s online banking services, which have obstructed customer access to funds, payments, and essential transactions. In a statement, FCCPC’s Executive Vice Chairman, Mr. Tunji Bello, highlighted the adverse impact of these service interruptions on millions of customers, emphasizing the serious implications for both individuals and businesses.

Citing the Federal Competition and Consumer Protection Act (FCCPA) 2018, Bello noted that bank customers are entitled to fair, accountable, and quality service. The FCCPA ensures the right to reasonable access to essential goods and services, and any breakdowns in banking access could mean banks are failing to meet this standard, leading to potential financial hardship, eroded trust in the banking system, and overall economic harm.

The FCCPC is currently investigating to ensure consumers’ rights to redress are upheld, warning that it will take “all necessary actions to enforce the FCCPA protections.” Bello has urged banks to prioritize the restoration of services, improve customer support, and communicate transparently to manage customer expectations. The Commission reassures affected customers that their concerns are a priority, providing contact options for filing complaints.

NIGERIAN-HUNGARIAN CHAMBER OF COMMERCE PROMOTES BILATERAL TIES AND INVESTMENT OPPORTUNITIES

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The President of the Nigerian-Hungarian Chamber of Commerce, Mr. Spencer Onosode, has emphasized the importance of Nigeria-Hungary collaboration, noting its potential to drive investments and economic growth for both nations. Speaking at the chamber’s constitution event and the induction of 30 corporate entities and individuals, Onosode highlighted the need to tap into Nigeria’s resource-rich environment and Hungary’s strong technological and scientific background to boost trade volumes.

Onosode described Nigeria as a “land of vast mineral resources and a dynamic business climate” and commended Hungary for its resilience, historical achievements, and leadership in science and technology. He encouraged new chamber members to explore Hungary’s offerings in sectors like education, tourism, arts, and architecture.

Mrs. Izabella Abia-Okon, Business Development Director, presented “Glimpses of Hungary,” which underscored Hungary’s innovations and business avenues. Mr. Banji Akinsola, a chamber inductee fluent in Hungarian, shared his positive experiences as a student and business professional in Hungary, encouraging partnerships across borders.

Veteran corporate participants and individuals active in Hungary-Nigeria trade, such as Mrs. Josephine Peters of GEC Academy International, also enriched the event by sharing insights on Hungarian educational placements. Former Hungarian Ambassador, Dr. Modupe Irele, further emphasized Hungary’s potential contributions to Nigeria in medicine, agriculture, and tech innovation, urging members to explore sustainable opportunities in these areas.

With a high-income economy and strong human development index, Hungary ranks as the 57th largest economy worldwide, with a $265 billion output and a solid reputation for skilled labor and low income inequality

HALDEN MCCALL PLC LISTS ON NIGERIAN EXCHANGE WITH N11.98 BILLION ORDINARY SHARES

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Halden McCall PLC, a prominent Real Estate and Hospitality Group, has received approval to list N11.98 billion in ordinary shares by introduction on the Nigerian Exchange Limited (NGX). This listing involves 3.122 billion ordinary shares, priced at N3.84 per share, which will increase NGX’s market capitalization by N11.98 billion. The listing event is set for November 20, 2024.

Following the listing, Halden McCall will participate in the “Facts Behind the Listing” presentation, where newly listed companies share their operational highlights and future strategies with securities dealers. This step signifies the company’s adherence to NGX’s listing standards, reinforcing its dedication to transparency, strong corporate governance, and investor trust. The listing was managed by Finmal Finance Services Limited and Chartwell Securities, serving as capital market consultant and stockbroker, respectively.

Dr. Edward Akinlade, Halden McCall’s Group Managing Director, expressed excitement over the achievement, noting that NGX listing will enhance shareholder liquidity and market access, supporting the company’s growth and expansion.

Renowned for its Suru Express Hotels and Suru Homes brands in West Africa, Halden McCall PLC is a key player in African emerging markets. In line with supporting the government’s housing initiatives, the company plans to establish 45 additional budget hotels under the Suru Express brand and develop 100 units of affordable housing.

ACCESS CORPORATION’S CAPITAL RAISING AND FUTURE BANKING VISION

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Access Corporation Plc, parent company of Access Bank Limited, has announced its intentions to raise additional capital in U.S. dollars, with the first phase expected to conclude in the first half of next year. During a media briefing at the Corporation’s Lagos headquarters, Managing Director and Chief Executive Mr. Roosevelt Ogbonna highlighted the bank’s preference for a dollar-denominated instrument, noting that recent government-issued diaspora bonds could serve as a helpful reference for the structure.

Ogbonna explained that the capital raise will likely take place in two tranches, with the Development Finance Institution (DFI) component anticipated to close first. The Corporation envisions the completion of the DFI tranche by mid-next year.

Discussing Access Corporation’s ongoing investments in innovation, Ogbonna stated, “We are investing heavily in technology to build a bank of the future,” noting a significant $80 million investment this year alone. The infrastructure upgrades are projected to support 200 million transactions per second by 2027, catering to an estimated customer base growth from 65 million today to 125 million in three years.

In addition, the Corporation is developing a platform aimed at registering all Small and Medium Enterprises (SMEs) across Africa, enabling them to access loans and facilitate cross-border trade. “We want to register every SME on the continent on one platform,” Ogbonna said, highlighting Access Bank’s commitment to supporting African businesses and promoting intra-African commerce.

THE 1979 NIGERIAN PRESIDENTIAL ELECTION AND SUPREME COURT VERDICT

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Nearly 45 years ago at Onikan, Lagos, the Federal Electoral Commission’s representative, Mr. Menkiti, declared Alhaji Shehu Shagari as satisfying the requirements for presidency: “He has secured not less than one-quarter of the votes cast in at least two-thirds of all the states in the Federation, as mandated by subsection (1)(c)(ii) of the Electoral Decree.” In interpreting the phrase “at least two-thirds of all the states,” the Commission explained, “In the absence of specific legal guidance, the phrase is given its ordinary meaning as provided in section 34(A) subsection 1(c)(ii) of the Electoral Decree.”

Following this declaration, the Electoral Commission certified the election results from the August 11, 1979 poll, with Alhaji Shehu Shagari leading with 5,698,857 votes, followed by Chief Obafemi Awolowo, Dr. Nnamdi Azikiwe, Alhaji Aminu Kano, and Alhaji Waziri Ibrahim. The Commission clarified that Shagari met the election requirements by receiving at least one-quarter of the votes in 12 states and one-quarter of two-thirds in a 13th state.

Chief Obafemi Awolowo, a major candidate, contested this decision, presenting his case before an election tribunal led by Justice Kazeem, which ultimately denied his appeal. Following this, the Supreme Court also upheld FEDECO’s decision, with the matter finally resolved on September 26, 1979, just days before Shagari’s inauguration as President. This landmark case, filed under Suit No. SC62/1979, remains a notable instance in Nigeria’s electoral and judicial history.

SERAP CONDEMNS ALLEGED ASSAULT ON BOLT DRIVER BY HOUSE OF REPRESENTATIVES MEMBER

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The Socio-Economic Rights and Accountability Project (SERAP) has strongly condemned the alleged assault of a Bolt driver by Alex Ikwechegh, a member of the Nigerian House of Representatives from Abia State. This condemnation comes in light of a viral video that has sparked widespread outrage on social media.

In the video, Ikwechegh is seen in a heated exchange with the Bolt driver, who had come to his residence to provide a service. The confrontation escalates when Ikwechegh questions the driver’s awareness of his status, stating, “Do you know where you are? Do you know who I am?” The driver, insisting on payment, responds, “I don’t want to know, just pay me and let me go.”

As the situation deteriorates, the driver asserts his right to compensation for his service, prompting Ikwechegh to refuse payment and accuse the driver of “great disrespect.” The lawmaker reportedly made alarming threats, including, “I can make this man disappear in the whole of Nigeria and nothing would happen,” which has drawn significant condemnation.

In a response to the incident, SERAP called for the Nigerian Police Force and the Speaker of the House of Representatives to investigate the alleged assault. The organization emphasized the need for accountability and a review of the conduct of public officials, advocating for respect and protection of citizens’ rights.

The incident has highlighted ongoing concerns regarding the behavior of public officials and their treatment of citizens, raising questions about accountability in governance and the importance of upholding human dignity.

EARLY VOTING IN THE US ELECTION: OVER 41 MILLION CAST VOTES

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As the US prepares for the elections on November 5, over 41 million Americans have already cast their early votes, indicating a high level of voter engagement in what is anticipated to be one of the closest elections in recent history. Outgoing President Joe Biden is set to participate in early voting on Monday, according to the White House.

Both Biden and Vice President Kamala Harris are returning to crucial battleground states in their final push. Harris will visit Michigan, where she faces challenges from Arab American voters who are dissatisfied with US support for Israel. Meanwhile, former President Donald Trump will travel to Georgia to address a gathering of pastors and faith leaders before holding a rally.

Harris has been active in Pennsylvania, emphasizing the importance of voter participation. During her campaign stops, she expressed, “The election is here, and the choice, Philly, is truly in your hands.” This marks her 14th visit to the state since Biden withdrew from the race in July.

Trump, rallying his base in New York’s Madison Square Garden, made controversial remarks that have drawn criticism, particularly concerning immigration and his portrayal of Harris. He has attempted to galvanize evangelical voters by highlighting his previous Supreme Court appointments that led to the overturning of Roe v. Wade.

Both candidates are intensifying their efforts to mobilize their respective voter bases, with Harris focusing on abortion rights and Trump framing her as “radical.” Harris has cautioned that Trump’s policies would roll back progress, particularly for women and moderate Republicans.

However, Harris faces challenges in appealing to the Democratic Party’s diverse base, especially amid rising civilian casualties in the ongoing Israel-Hamas conflict. Despite her critical stance at times, she has maintained the administration’s support for Israel, which may alienate some voters in Michigan, a key swing state with a significant Muslim and Arab American population.

OUTGOING GOV. OBASEKI OPTIMISTIC ABOUT LONG-LASTING REFORMS IN EDO STATE

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Outgoing Governor Godwin Obaseki of Edo State has expressed confidence that many of his administration’s reforms will endure beyond the tenure of the incoming governor-elect, Monday Okpebholo. In an interview with newsmen in Lagos, Obaseki shared his thoughts on the sustainability of his reforms after the change in government, emphasizing the institutionalization efforts made during his administration.

Obaseki stated, “The people are very aware of our reforms and legacies we are leaving behind. I don’t think because there is a change in government, they will change some of these reforms. Even if the incoming government does not support or encourage them as we used to, they (reforms) will not disappear.”

He noted that his administration had taken significant steps to institutionalize these reforms, ensuring they have a lasting impact. “Beyond this, in the reforms we have undertaken, we have institutionalized or started the process of institutionalizing some of them. The people know, and I doubt if they will keep quiet for long, allowing things to go back to what it used to be without complaining or shouting. I’m optimistic that they (reforms) will last,” he added.

Obaseki highlighted the support of workers and parents whose children benefit from initiatives like the EdoBEST e-learning program, stating that they would resist any attempts by the incoming All Progressives Congress-led administration to undermine these advancements. He cited achievements such as restoring respect in the civil service, revolutionizing education, and improving electricity, internet connectivity, and road infrastructure as key components of his legacy.

As Obaseki’s second and final tenure comes to an end on November 11, he remains hopeful that the positive changes initiated during his administration will continue to benefit the people of Edo State.

APGA CONDEMNS REPRESENTATIVE ALEX IKWECHEGH FOR ALLEGED ASSAULT ON BOLT DRIVER

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The All Progressives Grand Alliance (APGA) has issued a strong condemnation of Alex Ikwechegh, the member representing Aba North and South in the Nigerian House of Representatives, following a viral video that allegedly shows him berating and threatening a Bolt driver in Abuja.

In a statement released on Monday by the party’s National Publicity Secretary, Mazi Ejimofor Opara, APGA reaffirmed its commitment to human rights and announced a formal investigation into Ikwechegh’s conduct. The statement read, “The attention of our great party, the All Progressives Grand Alliance, has been drawn to a viral video of alleged assault meted out to a citizen by the Honourable member representing Aba North and South Federal Constituency, Alex Ikwechegh. As a political party founded on respect for human rights, we roundly condemn the action of our said member.”

The video reportedly shows Ikwechegh in a heated exchange with the Bolt driver, who had delivered a service to the lawmaker’s residence. In the video, Ikwechegh can be heard questioning the driver, “Do you know where you are? Do you know who I am?” The driver, insisting on payment, responded, “I don’t want to know, just pay me and let me go.” The confrontation escalated, with Ikwechegh allegedly refusing to pay and making a chilling threat: “I can make this man disappear in the whole of Nigeria and nothing would happen.”

APGA’s statement emphasized that the party does not condone any actions that undermine human dignity. “In APGA, we are our Brother’s and Sister’s keeper, and it cannot be any other way,” it asserted. The party announced plans to establish a disciplinary committee to investigate the incident, assuring that appropriate sanctions would be enforced if Ikwechegh is found wanting.

The party’s decisive response underscores its commitment to holding public officials accountable and upholding the ideals of dignity and respect espoused by APGA’s founding leaders.

X SUSPENDS HEBREW-LANGUAGE ACCOUNT FOR IRAN’S SUPREME LEADER AYATOLLAH ALI KHAMENEI

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The social media network X, owned by Elon Musk, suspended an account on Monday that published Hebrew-language messages purportedly from Iran’s Supreme Leader Ayatollah Ali Khamenei, just days after its launch.

The account was briefly operational before it received a suspension notice stating, “X suspends accounts which violate the X Rules.” However, the platform did not specify which particular rule had been violated.

Khamenei’s office operates several social media accounts in his name, disseminating messages in various languages. The newly opened Hebrew-language account had launched over the weekend with an introductory message commonly used in the Islamic world: “In the name of Allah, the Benevolent, the Most Merciful.”

The account’s opening coincided with heightened tensions, as Israel conducted air strikes against military sites in Iran on Saturday in retaliation for a missile attack from Tehran on October 1. According to Iranian sources, the air strikes resulted in the deaths of at least four Iranian soldiers, although Iran described the damage to its radar systems as “limited.”