26.5 C
Lagos
Friday, November 15, 2024
Home Blog Page 52

NIGERIA POLICE FORCE CONDEMNS JUNGLE JUSTICE AS DANGEROUS TREND

0
2 mn read

The Nigeria Police Force has strongly condemned the rising incidence of jungle justice in various parts of the country, deeming it a dangerous and abhorrent trend. In a statement, the police cautioned the public about the severe implications such actions could have on the country’s criminal justice system, rule of law, and international reputation.

This condemnation follows violent mob actions in Agenebode, Edo State, and Agege, Lagos State, where enraged individuals stormed police stations to drag out suspects linked to serious crimes, including kidnapping and organ trafficking. In one incident, a driver accused of hitting a motorcyclist and attempting to kill him was also targeted by the mob. Tragically, these events resulted in the death of a policeman and the destruction of police property, including the burning of patrol vehicles and police stations.

Force Public Relations Officer, ACP Muyiwa Adejobi, stated that the Inspector General of Police, Kayode Egbetokun, has tasked the Deputy Inspector General of Police in charge of the Force Criminal Investigation Department (FCID) with investigating these incidents and ensuring that all responsible parties face the full consequences of the law.

The statement read: “In view of the recent spate of jungle justice in some parts of the country, the Nigeria Police Force has condemned the dangerous and abhorrent trend and cautioned the general public on the consequences of such on our criminal justice administration, rule of law, and the global reputation of our dear country.”

The police force emphasized that jungle justice is a “deplorable and savage behavior” that has led to tragic loss of life and destruction of property nationwide. They described these actions as a betrayal of justice and due process, undermining the fundamental principles of human rights and justice.

In particular, the police condemned the arson that led to the deaths of suspects in custody and the subsequent destruction of police barracks, patrol vans, and the Divisional Police Station in Agenebode, Etsako East Local Government Area of Edo State on October 13, 2024. The statement highlighted allegations from the community that the police were attempting to pervert justice by detaining individuals accused of terrorizing the area.

In a concerning note, it was mentioned that the main suspect involved in these events was almost lynched by community members before being rescued by the police. The situation underscores the urgent need for addressing the issue of jungle justice and restoring public trust in the legal system.

BARCELONA DOMINATES SEVILLA 5-1, LEADING LA LIGA AHEAD OF CLASICO

0
< 1 mn read

Red-hot Robert Lewandowski and Pablo Torre each scored twice as Barcelona secured a commanding 5-1 victory over Sevilla on Sunday, maintaining their three-point lead over Real Madrid at the top of La Liga ahead of next weekend’s highly anticipated Clasico.

Barcelona quickly restored their advantage after Real Madrid had matched their points by defeating Celta Vigo the previous day. The Catalan side showcased a dominant performance filled with attacking flair. Lewandowski reached an impressive milestone with 12 goals in just 10 La Liga matches, sandwiching his goals around a stunning strike from Pedri Gonzalez, who found the net from the edge of the box.

Torre, who came on as a substitute, added the fourth goal before Sevilla managed to grab a consolation through Stanis Idumbo in the closing stages. The rout was completed when Torre’s crossed free-kick sailed past goalkeeper Nyland and into the net at the far post.

“It was very important, given the games ahead, but this was an important game too, and we got the three points,” Pedri stated in an interview with Movistar. He noted that the coach had highlighted the spaces outside the area, which allowed him to capitalize on his scoring opportunity.

Despite facing upcoming challenges against Bayern Munich in the Champions League and the crucial match against Real Madrid at Santiago Bernabeu, Barcelona coach Hansi Flick fielded a strong squad. Notably, Dani Olmo, Fermin Lopez, and Gavi returned to the bench after injuries, with Gavi having been out since November 2023 due to a knee operation.

Ansu Fati started for the first time this season, stepping in after Eric Garcia felt discomfort during the warm-up, while Raphinha shifted into a central attacking midfield role. This victory puts Barcelona in an excellent position as they prepare for their crucial matches ahead.

OBASANJO WARNS OF OUT-OF-SCHOOL CHILDREN AS FUTURE RECRUITS FOR BOKO HARAM

0
< 1 mn read

Former President Olusegun Obasanjo has warned that the issue of out-of-school children in Nigeria presents a significant risk for the recruitment of future Boko Haram insurgents if not urgently addressed. He made this statement on Sunday in Bauchi during the inauguration of the dualised seven-kilometre Awala-Mairuguri Road and the 17.70-kilometre Awalah-Sir Abubakar Tafawa Balewa National Airport Road, along with the 30-kilometre Gubi-Ruda Bida-Siyi-Nasarawa Road.

In his speech, Obasanjo highlighted the critical role of education and human capacity building in fostering societal development and safety. He noted, “The World Bank reports that we have over 20 million out-of-school children who should be in school but are not. For a population of about 220 to 230 million, that represents 10 percent of our population.”

He addressed the leaders present, saying, “Dear governor of Bauchi State, your Royal Highnesses, brothers and sisters, that is recruitment for future Boko Haram, and nobody needs to tell us that.” Obasanjo stressed that neglecting this demographic not only hampers their ability to contribute positively to society but also creates a pool of potential recruits for insurgency and banditry in the future.

He urged leaders at all levels to collaborate and seek lasting solutions to the issue of out-of-school children, emphasizing the urgency of the situation for the safety and development of the nation.

TCN ANNOUNCES BACKUP SYSTEM TO PREVENT NATIONWIDE BLACKOUTS

0
< 1 mn read

The Transmission Company of Nigeria (TCN) has announced plans to implement a backup system aimed at preventing nationwide blackouts in the event of a national grid collapse. TCN’s Managing Director, Sule Abdulaziz, shared this information during an appearance on Channels Television’s Sunday Politics program.

Abdulaziz attributed the frequent grid failures to outdated infrastructure, some of which has been operational for over 50 years. He stated, “Presently, we are doing the scatter system for the whole network, which is funded by the World Bank. The project will take two years to be completed, and we have already accomplished 70% of it.”

He further explained that the scatter system, which was recently celebrated in Gwagwalada, Abuja, will significantly reduce the frequency of system disturbances. Abdulaziz added, “We are trying to upgrade all our transmission lines.” Although he acknowledged that the government may not have sufficient funds for the project, TCN has been collaborating with private companies to secure financing.

The TCN Managing Director emphasized the importance of creating a “super grid,” stating that it would allow for alternative transmission lines in the event of a fault. He explained, “Currently, if we have a problem with one line, we have no other line to switch to. With the super grid, even if there is a fault in one transmission line, you can switch to another.”

Abdulaziz highlighted the need for continuous investment in critical electricity generation and transmission infrastructure. He also noted that rising electricity costs reflect the challenges associated with power production. According to him, Nigerians in Band A reportedly enjoy 24-hour electricity service. Despite recent tariff increases, he maintained that electricity in Nigeria remains more affordable than in neighboring countries like Chad, Mali, and Burkina Faso.

OBASANJO REVEALS PERSONAL EXPERIENCE WITH HEARING LOSS, ANNOUNCES HEARING AID DISTRIBUTION

0
< 1 mn read

Former President Olusegun Obasanjo revealed that he once suffered a 25 percent hearing loss without realizing it. He made this disclosure in Bauchi on Sunday while paying homage to the Emir of Bauchi, Alhaji Rilwanu Suleiman-Adamu.

Obasanjo noted that many individuals worldwide may be unaware of their hearing impairments until they undergo medical evaluations. He recounted an incident abroad where he struggled to hear someone speaking to him, insisting that nothing was wrong with his hearing. After a man requested to check his ears, a clinical analysis confirmed his hearing loss.

“After my result came out, I had to ask the man to also check on my Chief Security Officer, and shockingly enough, he was more deaf than I was,” Obasanjo said.

This personal experience inspired the creation of the Olusegun Obasanjo Foundation, which has partnered with Starkey Hearing Foundation to provide ear treatment and hearing aids to thousands of Nigerians. Obasanjo announced plans to inaugurate a distribution program targeting approximately 10,000 indigent individuals in the North-East, beginning in Bauchi State, where 2,000 people will benefit.

The initiative, dubbed the “Sound Intervention Mission: So Nigerians May Hear,” will be implemented under the auspices of the Obasanjo Foundation. He emphasized the need for collective effort to address the security challenges facing the country.

In response, Suleiman-Adamu acknowledged Obasanjo’s visit as a testament to his commitment to the development and progress of all regions in Nigeria.

NO SPECIAL TREATMENT FOR INMATES UNDER NIGERIAN LAW, SAYS FORMER NBA PUBLICITY SECRETARY

0
< 1 mn read

Mr. Douglas Ogbankwa, a former Publicity Secretary of the Nigerian Bar Association (NBA), has stated that no law exists in Nigeria that provides for special treatment of inmates. He emphasized that while certain circumstances might warrant exceptions, the law treats all individuals in custody equally.

“There is no law giving special treatment to anybody in custody. The only two genders recognized by our Nigerian law are the male gender and the female gender,” Ogbankwa explained. He further highlighted that Nigerian law explicitly prohibits practices related to the Lesbian, Bisexual, Gay, Transgender, and Queer (LGBTQ) community, citing the anti-gay law enacted in 2014, which received broad support from the public.

In support of Ogbankwa’s remarks, Lagos-based lawyer Mr. Kehinde Nubi noted that both local and international laws enshrine the principle of equality for all individuals. He stated, “This implies that there should be no discriminatory or preferential treatment regarding how prisoners are treated.”

However, Nubi acknowledged that inmates with specific needs might require accommodations to ensure their safety and the safety of others. “Such considered status may lead to such inmates being seemingly prioritized,” he added, emphasizing the importance of maintaining security while addressing individual needs.

YOUTH RIGHTS CAMPAIGN CALLS FOR IMMEDIATE RELEASE OF ARRESTED ACTIVISTS MARKING #ENDSARS ANNIVERSARY

0
< 1 mn read

Rights campaigners under the Youth Rights Campaign (YRC) have identified 22 activists, including their spokesperson, Hassan Taiwo Soweto, who were arrested by the police on Sunday morning at the Lekki Toll Gate. This incident occurred during a peaceful protest commemorating the fourth anniversary of the #EndSARS killings.

In a statement released by Francis Nwapa, the National Secretary of YRC, the group condemned the arrests and demanded the immediate and unconditional release of the detained activists, who are currently held at the SCID Panti Yaba.

The list of those arrested includes:

  1. Hassan Taiwo Soweto
  2. Ilesanmi Kehinde
  3. Uadiale Kingsley
  4. Osopale Adeseye T.
  5. Olamilekan Sanusi
  6. Osugba Blessing
  7. Kayode Anaheim
  8. Michael Adedeji
  9. Jennifer Rita Obiora (Female)
  10. Orunsolu Oluremi (Renyte Goonz)
  11. Prof. Seyi Akinde
  12. Akin Okunowon Aluta
  13. Ugochukwu Prince
  14. Aishat Omolara (Female)
  15. Thomas Abiodun Olamide (Female)
  16. Ogbu Obinna Ferdinald
  17. Aghedo Kehinde Stephen
  18. Duroorike Olawale
  19. Isaac Obasi
  20. Funmilayo Jolade Ajayi
  21. Gideon Adeyeni
  22. Afeez Suleiman

The YRC stated that the protesters were advocating for the release of all #EndSARS activists still in detention four years after the protests. They also called for the immediate publication of the Judicial Panel’s report, which includes adequate compensation for the victims of the #EndSARS protests.

“This arrest is a continuation of the brutal repression that has become the standard response of Bola Tinubu’s government against dissent and peaceful protest,” the statement read.

The campaigners urged the labor movement, civil society organizations, and youth groups not to be intimidated but to prepare for mass resistance against what they describe as democratic attacks by the Tinubu administration and its anti-poor neoliberal policies.

Furthermore, they demanded the immediate release of all individuals still detained in connection with the #EndBadGovernance protests and the dropping of charges against Adaramoye Michael Lenin and 10 others.

PETER OBI URGES NIGERIANS TO EMBRACE FORGIVENESS OVER HATE IN RESPONSE TO BIRTHDAY GREETINGS FOR GEN. GOWON

0
2 mn read

Peter Obi, the Presidential Candidate of the Labour Party (LP) in the 2023 elections, has called on Nigerians, especially his supporters, to reject hate and bitterness, emphasizing that these emotions have no place in the nation’s future. This appeal comes in light of backlash he received after extending birthday wishes to former Head of State General Yakubu Gowon (Retd.), who recently turned 90.

Obi faced significant criticism on social media from individuals who felt that, given Gowon’s controversial role during Nigeria’s civil war—which resulted in the deaths of over one million Nigerians, primarily from the Igbo ethnic group—he should not have celebrated the former military ruler.

In a lengthy post on his verified X handle titled “Why I Congratulated Gen. Gowon at 90,” Obi addressed the mixed reactions to his felicitations. He acknowledged the sentiments expressed by many Nigerians and stated, “As a leader in the vanguard of providing direction for our country to shift base away from all our shortcomings… I needed to show to the World that the ultimate heroism is forgiving the enemy and moving forward.”

Reflecting on Nigeria’s turbulent history, he described the civil war from 1967 to 1970 as “the darkest part of our 64-year journey as a nation.” Obi remarked on the significance of General Gowon reaching the milestone of 90 years and highlighted the presence of former President Olusegun Obasanjo, who is 87, at events aimed at fostering reconciliation in Nigeria.

He also pointed to the national burial given to Dim Chukwuemeka Odumegwu Ojukwu, the Biafra leader, as a symbol of Nigeria’s capacity for reconciliation. Obi noted, “The status of the burial given to Dim Ojukwu remains the boldest indication to the World that Nigeria as a country is disposed to moving forward in the spirit of reconciliation.”

Obi concluded by emphasizing the importance of choosing forgiveness over revenge, suggesting that this approach can pave the way for healing and unity in the country.

OUSTED KENYAN DEPUTY PRESIDENT RIGATHI GACHAGUA CALLS OUT PRESIDENT RUTO AS “VICIOUS,” FEARS FOR HIS LIFE

0
2 mn read

In a dramatic turn of events in Kenyan politics, ousted Deputy President Rigathi Gachagua has openly criticized President William Ruto, labeling him as “vicious” and warning that his life may be in jeopardy. Gachagua was impeached by the Senate on five out of 11 charges, although a court order has temporarily halted the process of appointing his successor.

Expressing his shock and betrayal, Gachagua stated, “I am shocked by how vicious a man I helped to be president… could be so vicious against me.” He revealed that his security had been revoked and that his staff had been placed on compulsory leave, heightening his concerns for his safety. “If anything happens to me or my family, President William Ruto must be held to account,” he warned, alluding to previous assassination attempts against him.

Gachagua’s health took a downturn just before his impeachment trial, suffering from severe chest pains. Despite this, the Senate proceeded with the impeachment, finding him guilty of threatening judges and promoting ethnically divisive politics, although he was acquitted of corruption and money-laundering charges.

In response to Gachagua’s impeachment, President Ruto swiftly nominated Interior Minister Kithure Kindiki as his replacement. However, a High Court intervened shortly after, suspending the appointment process, and a three-judge bench is set to hear the case soon.

Gachagua accused Ruto of violating court orders by withdrawing his security detail while still holding the position of deputy president. He lamented, “I don’t understand this level of viciousness,” emphasizing the gravity of the situation he finds himself in.

This unprecedented impeachment marks a significant moment in Kenyan politics, as Gachagua is the first deputy president to be removed from office through impeachment since the introduction of this process in Kenya’s 2010 constitution. As tensions rise, the political landscape remains uncertain, with Gachagua’s future and the implications for Ruto’s administration still unclear.

5 Places the Rich Keep Their Money

0
< 1 mn read

Rich individuals often diversify their investments to grow their wealth and secure their financial futures. Here are five common investment avenues for millionaires:

  1. Cash and Cash Equivalents
    Many wealthy people maintain significant cash reserves in liquid assets such as money market funds, certificates of deposit (CDs), and Treasury bills. This strategy provides quick access to funds during market downturns and allows for immediate investment opportunities. Some even hold cash in global currencies, securely stored in safe deposit boxes.
  2. Real Estate
    Investing in real estate is a favored strategy among millionaires. They typically start with residential properties and later expand into commercial real estate, including office buildings and hotels. Real estate not only appreciates over time but also generates passive income through rental income, contributing to long-term financial stability.
  3. Stocks and Stock Funds
    Many wealthy individuals invest in simple, low-maintenance options like index funds and dividend-paying stocks. While some ultra-wealthy investors may hold controlling stakes in companies, most prefer diversified portfolios that offer passive income while mitigating risk.
  4. Private Equity and Hedge Funds
    These investments, which are accessible primarily to high-net-worth individuals, allow wealthy investors to put money into private companies or pooled funds. Hedge funds are particularly known for their aggressive strategies aimed at maximizing short-term returns, appealing to those seeking higher risk-reward scenarios.
  5. Commodities
    Investing in physical commodities such as gold, silver, and other minerals serves as a wealth-preserving strategy. While commodities can act as a hedge against inflation, managing the logistics of storage and security can be challenging for some investors.

By utilizing these various investment strategies, the rich can maintain financial stability, secure their wealth, and seize new opportunities in the market.

Arewa New Frontiers Supports Katsina Community Watch Corps for Combating Banditry

0
2 mn read

The Arewa New Frontiers, a northern advocacy group, has voiced its support for the Katsina Community Watch Corps, crediting it with significant success in reducing banditry in the state, notably through the neutralization of notorious terrorist leader Sani Waka Burki and his associates.

At a news conference on Sunday in Abuja, General Secretary Mohammed Ibn Abdulsalam commended the Zamfara and Kaduna state governments for following the lead of Katsina Governor Dikko Umaru Radda in establishing similar community policing initiatives. He called on other states in the North West to implement such measures to combat banditry throughout the region.

Abdulsalam highlighted the effectiveness of the Katsina Community Watch Corps, which has deployed 1,466 trained personnel and is in the process of training an additional 500 members for the most affected local government areas. He stated, “The Corps has become a model for other states,” citing its role in neutralizing bandits and intercepting vehicles carrying ammunition in the region.

The group praised Governor Radda’s commitment to security, noting substantial investments in security infrastructure, including the acquisition of 10 armored personnel carriers, 61 branded Hilux vehicles, and 700 motorcycles, along with advanced surveillance equipment worth over N10 billion. Abdulsalam emphasized that this commitment is not merely rhetorical but is backed by tangible resources dedicated to protecting citizens.

He also mentioned the establishment of the Ministry of Internal Security and Home Affairs, which has created a dedicated institution to coordinate security efforts across the state’s 34 local government areas, improving response times and collaboration among various security agencies.

The multifaceted approach taken by Governor Radda includes the establishment of the Hisbah Board and the Committee on Encroached Cattle Routes and Grazing Reserves, demonstrating a comprehensive understanding of the complex security challenges facing the region. Abdulsalam asserted that the governor is not only addressing immediate threats but is also strategically tackling the root causes of conflict.

Lagos Police Disperse #EndSARS Anniversary Protesters with Tear Gas and Arrests

0
2 mn read

Officers from the Lagos State Police Command used tear gas and made several arrests on Sunday as they dispersed protesters marking the fourth anniversary of the #EndSARS movement, which gained global attention in October 2020.

Videos from the protest showed demonstrators fleeing amid gunfire and clouds of tear gas filling the area. One of the arrested activists, Hassan Soweto, spoke from a police van, stating, “We’re asking here today when the right to commemorate the dead has become illegal and criminalized in this country.” He condemned the police for their actions, saying they were simply there to honor the memory of those killed in the protests four years ago.

The protesters gathered at the Lekki Toll Gate around 8:30 a.m., carrying banners and placards that demanded justice and accountability for victims of police brutality. They called for the full implementation of recommendations from various judicial panels established to address grievances following the 2020 protests.

The #EndSARS movement erupted in October 2020 as thousands protested against the abuses committed by the now-disbanded Special Anti-Robbery Squad (SARS) of the Nigerian Police Force. The protests escalated into a tragic confrontation at the Lekki Toll Gate, where security forces, including the military, allegedly opened fire on peaceful demonstrators, resulting in injuries and contested fatalities.

Nearly four years later, many of the judicial panels’ recommendations remain unimplemented, leaving activists and human rights advocates frustrated.

Benjamin Hundeyin, the Public Relations Officer for the Lagos State Police Command, defended the police’s actions, claiming that the protesters were causing traffic disruptions at the toll gate. He stated that minimal force was used to disperse the crowd after they were warned to leave. Despite reports of injuries and arrests, Hundeyin denied that there was any significant confrontation between the police and the protesters.

As the world reflects on the importance of the #EndSARS movement, this recent event underscores the ongoing struggles faced by activists seeking justice for victims and demanding accountability from authorities.

Vice-President Shettima to Lead Nigeria’s Delegation at 2024 Commonwealth Heads of Government Meeting

0
< 1 mn read

President Bola Tinubu has appointed Vice-President Kashim Shettima to head Nigeria’s delegation to the 2024 Commonwealth Heads of Government Meeting (CHOGM). Shettima will join King Charles of England and leaders from 56 member countries at the event, set to take place from October 21 to 26 in Apia, Samoa.

According to Shettima’s spokesperson, Stanley Nkwocha, the theme for this year’s CHOGM is “One Resilient Common Future: Transforming our Common Wealth.” The discussions will focus on leveraging the strengths of member nations to enhance resilience, unlock potential, and foster a connected, digital Commonwealth.

Additionally, Nigeria and other member countries are expected to elect and appoint the next Commonwealth Secretary-General during the meeting. Following the revised 2022 memorandum on the Commonwealth Secretariat’s establishment and functions, the next Secretary-General will be selected from the African region. Candidates for the role include representatives from Lesotho, Ghana, and The Gambia, with Nigeria playing a significant role as the largest African member.

Nkwocha also noted that the leaders will address pressing global issues, including economic, environmental, and security challenges. They will discuss collaborative strategies to build resilience, boost trade, drive innovation and growth, and empower the Commonwealth’s 1.5 billion youth for a more peaceful and sustainable future.

Furthermore, Shettima is expected to leverage the Commonwealth Business Forum to attract more investors to Nigeria, highlighting the country’s potential for growth and development.

PDP Ex-Officio Members Call for Urgent NEC Meeting to Avert Crisis

0
< 1 mn read

Amidst rising internal tensions within the Peoples Democratic Party (PDP), the Conference of National Ex-Officio members has issued a warning that only the convocation of an emergency National Executive Council (NEC) meeting, scheduled for October 24, 2024, can prevent a looming crisis in the party.

The group expressed deep concern over what they termed an “escalating crisis” among the party’s top leadership, warning that inaction could have dire consequences for the party’s stability. They have pledged their support for the peace efforts led by the PDP Governors Forum, headed by Bauchi State Governor Bala Mohammed.

In a statement signed by several ex-officio members, including Dr. Yunana Ilya (Northcentral), Dr. Nicholas Msheliza (Northeast), Chief Madumere Chinemerem (Southeast), Chief Patrick Agbe (South-South), Chief Faboyede Clement (Southwest), and Alhaji Ibrahim Alhaji (Northwest), the group highlighted what they described as a “dangerous turn of events” threatening the party’s foundation.

They urged party leadership to ensure that the NEC meeting takes place, allowing aggrieved members an opportunity to voice their concerns and seek resolutions. The statement emphasized that the PDP Constitution mandates NEC meetings at least once every quarter, criticizing the party for failing to adhere to this requirement.

The ex-officio members noted, “Our Party’s Constitution is explicit on the importance of NEC in its provision that it shall hold at least once every quarter, failing which two-thirds of members may exercise its power in summoning an emergency NEC meeting. It is regrettable that our party has not adhered to the provisions of its own constitution, which would have nipped in the bud many unresolved issues.”

As the situation develops, the ex-officio members remain steadfast in their belief that addressing the underlying issues within the party is essential for its resurgence and popularity.

SEC Urges Capital Market Operators to Reassess Debt Instruments Issued by State and Local Governments

0
< 1 mn read

The Securities and Exchange Commission (SEC) has called on capital market operators (CMOs) in Nigeria to critically review the issuance of debt instruments by state and local government agencies. This recommendation was made by Bola Ajomale, SEC Executive Commissioner for Operations, during the 2024 International Credit Rating Webinar organized by DataPro Limited on October 10, 2024.

Ajomale highlighted that Irrevocable Standing Payment Orders (ISPOs) from state governments should not be the only measures for assurance and risk mitigation concerning debt instruments. He stressed the need for Credit Rating Agencies (CRAs) to adapt their evaluation metrics to accommodate rising risk levels and sustainability requirements associated with any debt issued by state or quasi-government bodies.

He expressed concerns regarding some state governments issuing private bonds guaranteed by the government, noting that these instruments often lack secondary market value. Ajomale emphasized the necessity of thorough assessments to ensure these bonds align with the intended project objectives.

During the webinar, participants were encouraged to explore the crucial role of CRAs in promoting sustainable economic development in Nigeria. This event, the fourth in its series, attracted over 500 participants from various countries, including the USA, Canada, South Africa, Ghana, Gambia, Namibia, Kenya, and Rwanda.

In his opening remarks, DataPro’s Founder, Abimbola Adeseyoju, reiterated the purpose of the webinar: to promote the value of credit rating institutions in Nigeria and across Africa. He emphasized that, beyond assessing asset and capital quality, CRAs should strengthen risk management processes while contributing to economic growth, particularly within the real sector, to foster sustainable wealth creation.

Keynote speaker Christian Ruehmer, an established international banking entrepreneur, urged banks to prioritize support for businesses in the real economy, highlighting the importance of collaboration between financial institutions and businesses to facilitate sustainable development.

SEC URGES REVIEW OF DEBT INSTRUMENT ISSUANCE BY STATE AND LOCAL GOVERNMENTS

0
< 1 mn read

The Securities and Exchange Commission (SEC) has called on capital market operators (CMOs) in Nigeria to reassess the issuance of debt instruments by state and local government agencies. This recommendation was articulated by Bola Ajomale, SEC Executive Commissioner for Operations, during the 2024 International Credit Rating Webinar organized by DataPro Limited on October 10, 2024.

Ajomale emphasized that Irrevocable Standing Payment Orders (ISPOs) from state governments should not be the sole assurance and risk mitigation measures for debt instruments. He stressed that Credit Rating Agencies (CRAs) must adapt their evaluation metrics to account for rising risk levels and increasing sustainability requirements for any debt issued by state or quasi-government bodies.

He raised concerns about some state governments issuing private bonds backed by the government, highlighting that these instruments often lack secondary market value and require thorough assessment to ensure they meet the objectives of the projects they are intended to finance.

Participants at the webinar were encouraged to explore the pivotal role of CRAs in fostering sustainable economic development in Nigeria. This event, the fourth in its series, attracted over 500 participants from Nigeria and various countries, including the USA, Canada, South Africa, Ghana, Gambia, Namibia, Kenya, and Rwanda.

In his opening remarks, DataPro’s Founder, Abimbola Adeseyoju, underscored the webinar’s objective to promote the value of credit rating institutions in Nigeria and Africa. He noted that in addition to evaluating asset and capital quality, CRAs should enhance risk management processes while contributing to economic growth, particularly in the real sector, to promote sustainable wealth creation.

The keynote speaker, Christian Ruehmer, an established international banking entrepreneur, urged banks to focus on supporting businesses in the real economy, reinforcing the need for collaboration between financial institutions and businesses to drive sustainable development.

MAN CITY CLAIMS CONTROVERSIAL VICTORY OVER WOLVES WITH LAST-MINUTE GOAL

0
2 mn read

Manchester City secured a dramatic 2-1 win against Wolverhampton Wanderers on Sunday, with John Stones scoring a controversial last-minute goal after a VAR review. The victory propelled City to the top of the Premier League standings.

The match started on a surprising note, with Wolves taking the lead early in the first half. Jorgen Strand Larsen capitalized on a pinpoint cross from Nelson Semedo, finding the back of the net with a simple finish, leaving City trailing. This marked the fifth time in seven league matches that City had fallen behind.

Josko Gvardiol managed to equalize for City in the 33rd minute, curling a superb shot into the top corner from the edge of the box, silencing the home crowd. City dominated possession and pressure for the remainder of the half but couldn’t find the back of the net again before the break.

After halftime, City continued to press for a winner but faced a stubborn Wolves defense. Erling Haaland, who had been prolific against Wolves in previous encounters, struggled to make an impact, missing a golden opportunity early in the second half.

As the match neared its conclusion, it appeared the game would end in a draw. However, in the dying moments, Stones rose to head in a corner kick. Initially disallowed for offside due to interference from Bernardo Silva on Wolves keeper José Sá, the goal was reviewed by VAR. Referee Chris Kavanagh consulted the pitchside monitor and ultimately overturned his decision, awarding the goal to City.

City’s sixth win in eight league games this season puts them two points clear of Liverpool, who had the chance to reclaim the top spot later in the day against Chelsea. Guardiola’s side is now on an impressive unbeaten streak of 31 league matches, a feat achieved by only six teams in English top-flight history.

Wolves, despite the controversial loss, put up a strong fight, with notable performances from Semedo and Larsen, but will feel aggrieved by the decision that sealed their fate. As City celebrated their victory, Guardiola’s relief was palpable, showcasing the high stakes of the title race.

EGYPT CERTIFIED MALARIA-FREE, JOINING THE WHO’S HISTORIC LIST

0
2 mn read

On Sunday, Egypt achieved a historic milestone by becoming one of the countries certified as malaria-free by the World Health Organization (WHO). This accomplishment marks the end of nearly a century of efforts to eliminate the disease in Egypt.

“Malaria is as old as Egyptian civilization itself, but the disease that plagued pharaohs now belongs to its history and not its future,” stated WHO Director-General Tedros Adhanom Ghebreyesus. He hailed Egypt’s malaria-free certification as “truly historic,” praising the commitment of both the people and the government of Egypt.

Egypt is now part of a distinguished list of 44 countries and one territory that have been certified malaria-free by the WHO. The certification process involves demonstrating that indigenous malaria transmission via Anopheles mosquitoes has been interrupted for at least three consecutive years, along with proof of capacity to prevent the disease from re-establishing.

Malaria remains a significant global health issue, claiming over 600,000 lives annually, with 95% of the deaths occurring in Africa. Egypt’s success story joins that of other countries that have worked tirelessly to eliminate malaria, showcasing the potential for significant progress with sustained effort.

Here is a list of countries certified as malaria-free, including Egypt:

  • Algeria (2019)
  • Cabo Verde (2024)
  • Egypt (2024)
  • Mauritius (1973)
  • Jordan (2012)
  • Morocco (2010)
  • United Arab Emirates (2007)
  • Armenia (2011)
  • Azerbaijan (2023)
  • Bosnia and Herzegovina (1973)
  • Bulgaria (1965)
  • Croatia (1973)
  • Cyprus (1967)
  • La Réunion (1979)
  • Hungary (1964)
  • Italy (1970)
  • Kyrgyzstan (2016)
  • Montenegro (1973)
  • Netherlands (1970)
  • Poland (1967)
  • Portugal (1973)
  • Republic of North Macedonia (1973)
  • Romania (1967)
  • Serbia (1973)
  • Slovakia (1963)
  • Slovenia (1973)
  • Spain (1964)
  • Sweden (1963)
  • Turkmenistan (2010)
  • Uzbekistan (2018)
  • Argentina (2019)
  • Belize (2023)
  • Cuba (1973)
  • Dominica (1966)
  • El Salvador (2021)
  • Grenada (1962)
  • Jamaica (1966)
  • Paraguay (2018)
  • Saint Lucia (1962)
  • Trinidad and Tobago (1965)
  • United States of America (1970)
  • Maldives (2015)
  • Sri Lanka (2016)
  • Australia (1981)
  • Brunei Darussalam (1987)
  • China (2021)
  • Singapore (1982)

FATALITIES FROM MAJIA PETROL TANKER EXPLOSION IN JIGAWA RISE TO OVER 180

0
< 1 mn read

The death toll from last Tuesday night’s petrol tanker explosion in Majia, Taura Local Government Area of Jigawa, has climbed to over 180, with more than 80 individuals still receiving treatment in hospitals. Governor Umar Namadi confirmed the updated figures while hosting Sokoto State Governor Ahmed Aliyu at Government House in Dutse on Sunday.

Governor Namadi assured that some of the victims are making steady progress in their recovery, according to reports he has received. In a gesture of solidarity, Governor Aliyu made a donation of N100 million to support the medical bills of the injured. He expressed deep sadness over the tragic incident and affirmed Sokoto State’s continued support for Jigawa, acknowledging the long-standing relationship between the two states.

Governor Namadi thanked his Sokoto counterpart for the assistance, stating that the funds and other contributions received will be used to care for the victims.

Meanwhile, Senator Babangida Hussaini, representing Jigawa Northwest Senatorial District, pledged to work with federal and state authorities to rebuild the Majia community and help it recover from the tragedy. He commended President Bola Ahmed Tinubu’s swift response to the disaster, noting the federal government’s commitment to addressing the victims’ needs.

Senator Hussaini expressed his condolences to the families of the deceased and the injured during a visit to Majia, reiterating his support for the community’s rehabilitation.

BODE GEORGE URGES NEW CJN TO RESTORE JUDICIAL INTEGRITY, WARN AGAINST ‘JUDICIAL RASCALITY’

0
2 mn read

Former Deputy National Chairman of the People’s Democratic Party (PDP), Chief Bode George, has called on the Chief Justice of Nigeria (CJN), Justice Kudirat Kekere-Ekun, to restore integrity to the judiciary, expressing concern that some politicians have compromised the judicial system.

In a statement titled “The Time to End Judicial Rascality is Now”, George voiced optimism that under Justice Kekere-Ekun, the judiciary could reclaim its respected status, as it held between the 1950s and 1980s. He warned, however, that recent controversial judgments by certain judicial officers are undermining Nigeria’s democracy and embarrassing patriotic citizens.

Congratulating the CJN on her recent confirmation and swearing-in, George said: “I strongly believe the judiciary will benefit from your wealth of knowledge. With you at the helm, I am hopeful the judiciary will reclaim the prominence it once had from the 1950s to the 1980s.” He emphasized the importance of restoring the judiciary’s impartiality and integrity.

George raised alarms over what he termed “judicial rascality,” pointing to conflicting rulings from courts of coordinate jurisdiction and growing public distrust in court decisions. He warned that the current trajectory could lead to “judicial anarchy,” where the rule of law is undermined by conflicting and questionable court judgments.

“Judicial decisions today are becoming embarrassing. We have instances where courts, miles away from political conflicts, issue confusing rulings. This creates judicial chaos, leaving Nigerians bewildered,” George explained. He criticized the increasing trend of lower courts issuing conflicting orders, which he believes is damaging the credibility of the judiciary.

George called on the CJN to convene a meeting of the National Judicial Council (NJC) to address these inconsistencies and take corrective measures. He stressed the need to restore public confidence in the judiciary, recalling the respected reputations of past Chief Justices like Justice Adetokunbo Ademola, Justice Teslim Elias, and Justice Kayode Eso, who upheld the judiciary’s independence against external pressures.

Lamenting the state of the judiciary since 1999, George accused some judges of serving the interests of powerful politicians rather than justice. He also criticized the reliance on “technicalities” in judgments, particularly in electoral cases, where judges overturn the decisions made by millions of voters, often undermining the will of the people.

Skip to toolbar