Latest News
FEATURES
Oba of Benin, Oba Ewuare II, on Sunday, denied a claim by Comrade Adams Oshiomhole that the monarch advised against the candidature of the incumbent Governor, Godwin Obaseki, in 2016.
According to Tribune, the Oba made the denial when Oshiomhole led All Progressives Congress (APC) stalwarts to the palace after Saturday’s gubernatorial election victory.
Speaking while kneeling, Oshiomhole had claimed that the Benin monarch advised him against picking Obaseki as his successor in 2016 but he declined.
He said: “Your Royal Majesty, I would like to remain on my knees, first to apologise to Your Majesty for my poor judgement, when, in spite of your clear advice to the contrary, I stubbornly, and wrongly supported a man, who I thought, being a Benin man, will respect the tradition, the custom, the heritage, the brilliance and creativity and the respect for tradition by any logical man that claims a Benin man, when I presented Obaseki to you, against your advice.”
Responding, the Benin monarch said he never advised against Obaseki’s candidature.
“When you brought Obaseki to me, I did not say anything. You know I said I won’t say so much here. I told them. And I will try to restrain myself. Because anything that will bring any issue with my son Akpakomisa (Okpebholo’s appellation), I want to avoid it.
“But I have to correct it when you said ‘against my advice’. I never said anything against Obaseki when you brought him. You will recall, this one (the Oba pointed to the former chairman of the Edo State Board of Internal Revenue, Elemah, a bosom friend of Oshiomhole) is your witness when you brought him to introduce him to me. You talked about Odubu (Oshiomhole’s deputy governor) voted against my father’s choice.”
[DailyTrust]
President Bola Ahmed Tinubu-led federal government has continued to foot-drag in the implementation of zero import tariff waiver on selected food items months after the kickoff announcement, DAILY POST reports.
The food items to enjoy the zero tariff include husked brown rice, grain, sorghum, millet, maize, wheat and beans for 150 days spanning from 15th July to 31 December 2024.
The tariff waiver was first announced by the Minister of Finance, Wale Edun in June 2024 as part of President Tinubu’s administration fiscal policy measures to cut down on the prices of food.
In July 2024, the Comptroller General of NCS, Bashir Adewale Adeniyi reaffirmed the government’s commitment towards the commencement of the tariff waiver.
The policy was expected to kick off on August 14, 2024, when the Customs in a statement announced the rollout of detailed guidelines towards the implementation of the tariff waiver.
“Nigeria Customs Service (NCS) is pleased to announce that His Excellency, the President of the Federal Republic of Nigeria Bola Ahmed Tinubu GCFR through the Honourable Minister of Finance and the Coordinating Minister of the Economy, Olawale Edun has approved the regulation for the implementation of a Zero Percent Duty Rate (0 percent) and Value Added Tax (VAT) exemption on selected basic food items.
“This measure aims to mitigate the high cost of food items in the Nigerian market by making essential commodities more affordable for citizens”, Customs stated.
However, months after the announced tariff waiver, Nigerians have lamented that the policy was yet to see the light of the day.
This is as the objective of reducing the prices of food items remained unachieved while the majority of Nigerians groan at the very rising cost of living.
DAILY POST reports that despite the National Bureau of Statistics inflation data for July and August which showed food inflation eased to 39.53 and 37.52 percent, market realities showed that the prices of food and goods remained high.
A market survey by DAILY POST on Monday showed that a 50-kilogram bag of local or foreign rice is sold between N87,000 and N106,000.
This is as a 50kg bag of beans goes for between N65,000 and N100,000. For the majority of Nigerians, access to staple food has become a nightmare, a situation that would have been reduced with the implementation of the zero-tariff waiver on selected food items.
Speaking on the development in an interview with DAILY POST on Monday, the Executive Director of the Centre for the Promotion of Private Enterprise, Muda Yusuf said the major problem was the slow pace with which the government was implementing the zero tariff policy.
According to him, there was a big lag between the announcement of the policy by the government and the preparation of the guidelines for its implementation.
He stressed that the tariff waiver had not been fully activated as the impact was yet to be felt in the country’s economy.
Yusuf urged the government to work on the speed of implementation of the policy.
“The customs must implement the policy. The customs need to be advised by the ministry of finance, and until that is done, implementation cannot start.
“I think it has to do with the speed of the implementation of the policy. When the Government announces a policy, the ministry ought to work on the guidelines, which are transmitted by the ministry of finance to the customs. I think there is a lag between the announcement of the policy and the production of the guidelines.
“The policy has not been fully activated which is why the impact is not felt. This is because all the processes in terms of guidelines are a bit slow. The government needs to work on the speed of implementation”, he told DAILY POST.
On his part, Olufemi Kayode, a member, Association of Nigeria Licensed Customs Agents, ANLCA, and Special Assistant to Prince Adewusi Bamigbala, the Chairman of ANLCA, Murtala Muhammed International Airport Command Chapter, faulted Customs, noting that there was yet to be a clear-cut and proper guideline for the implementation of the zero tariff policy.
He stated that there was the possibility of internal sabotage and frustration within the Customs that may be undermining the implementation of the tariff for the good of the generality of Nigerians.
“Generally speaking, from the circular available there are no clear-cut directives apart from the fact that some of the tariffs were mentioned.
“There are no proper guidelines for its implementation. The Customs must put it into proper perspective.
“There is the possibility of internal sabotage or frustration in getting the implementation right.
“Customs may be having internal challenges about the proper classification or coding of the tariff waiver into its portal”, he said.
Meanwhile reacting to the development, in an exclusive chat with DAILY POST, NCS spokesperson, Abdullahi Maiwada said it was untrue that the service was sabotaging the implementation of the zero-tariff waiver policy on selected food items.
According to him, the Service had told Nigerians the procedures for accessing the tariff waiver.
He added that the NCS was committed to all policies formulated by the government to ease the economic hardship Nigerians faced.
“Well, we have issued a statement earlier and we told Nigerians procedures of accessing the tariff waiver.
“It is malicious to say Customs is sabotaging the implementation of the policy.
“We are a responsible government agency. We are out to implement all policies formulated by the government.
[DailyPost]
The President and Chief Executive of Dangote Group, Alhaji Aliko Dangote, has expressed regret for not buying Premier League Club, Arsenal FC.
He said it appears that the “time has passed” for him to buy the club stating that he wished he had bought the English side club when the team was valued at around $2 billion.
The billionaire business mogul in 2020 made known his intention to go for the North London club after his refinery project.
However, speaking in an interview with Bloomberg’s Francine Lacqua in New York, Dangote explained that he missed out on buying Arsenal by committing his resources to the refinery project.
He said, “I think that time has passed. The last time when we had this interview, I told you as soon as I finish with the refinery, I am going to try and buy Arsenal.
“But you know everything has gone up and the club too is doing very well, Arsenal is doing extremely well right now. That time Arsenal wasn’t doing well.
“I think I don’t have that kind of excess liquidity to go and buy a club for $4 billion so to speak and use it as a promotional something.
“But what I will do is to continually be the biggest fan of Arsenal. I watch their games anytime they are playing. So, I will remain a major supporter of Arsenal but I don’t think it makes sense today to buy Arsenal.’
When asked if he regretted not buying when Arsenal’s value was lower, he said: “Actually, I regret not buying it before but you know my money was more needed in completing my project (Dangote refinery) than buying Arsenal. I would have bought the club for $2 billion but you know I wouldn’t have been able to finish my project. So, It was either I finish my project or go and buy Arsenal.”
[TheNation]
Africa’s richest man, Aliko Dangote, says January’s visit by the operatives of the Economic and Financial Crimes Commission to the Lagos Head Office of the Dangote Group was intended to embarrass his company.
Speaking in an interview with Bloomberg and monitored on Tuesday, Dangote stated, “They visited the office but didn’t talk to anybody, nor did they arrest anyone. It was just to cause embarrassment (sic).”
The visit by the anti-graft commission to the company was part of a probe into alleged preferential allocations of forex to the Dangote Group and 51 other companies under the Emefiele-led Central Bank of Nigeria.
Dangote meanwhile maintained that despite the challenges, their operations remain “100 per cent clean,” given their significant role in Nigeria’s economy.
He also emphasized his company’s reputation as the highest-paying organization in Nigeria, adding that Dangote Group pays more taxes than the banking sector.
The PUNCH reports that EFCC had earlier written to the 52 companies directing them to provide documents supporting the allocation and utilisation of foreign exchange sold to them at official rates in the last 10 years.
The anti-graft commission had asked the firms to submit Form A and Form M which detailed the forex allocations to them between 2014 and June 2023.
But while some companies complied with the directive, several others were said to have asked for time to get the proper documents.
However, a Dangote official claimed the firm had honoured the EFCC’s request and wondered why the commission chose to embarrass them.
“We don’t know why they (EFCC officials) came to our office again; we had earlier been invited to the office of the EFCC. As such, the Dangote officials took along all the documents and submitted them. We don’t know why they eventually decided to visit our office again.
“The question we are asking is what did they come to take from our office when we had honoured their invitation? They left with empty hands because all the documents they wanted from us had been taken to them. The same EFCC that came to our office is the one giving information to the media that they are investigating us,’’ the official said.
Before the raid, Dangote Industries had in November 2023 refuted allegations that it was involved in forex malpractices and money laundering involving a staggering $3.4bn allegedly facilitated by Emefiele.
It denied the claims that the money was funnelled to its non-Nigerian subsidiaries, prompting illicit financial flows and round-tripping.
The company referred to past approvals granted by the CBN between 2010 to 2018, allowing it to purchase forex totalling $3.755bn for funding of its projects across Africa, of which only 47.70 per cent was utilised.
[Punch]
Ex-National Chairman of the Peoples Democratic Party, PDP, Prince Uche Secondus, has said 2027 may never come into our political lives because the ruling All Progressive Congress, APC, has murdered and buried democracy.
Secondus said this in a statement signed by his Media Adviser, Ike Abonyi, in Abuja, on Tuesday.
The former PDP Chairman was reacting to the conduct and outcome of last Saturday’s Edo State gubernatorial election.
He said the election saw to it that every rule was turned upside down to deliver the APC candidate at all cost.
According to him, there was every indication that the ruling party is on a mission to “murder and bury democracy in Nigeria.”
The former PDP boss described what took place in Edo state last weekend, as electoral fraud exhibited without any regard for the rule of law and respect for the voters.
He argued that from the results of all the off-cycle elections conducted in Imo, Kogi, and Edo states, the Prof. Mahmoud Yakubu-led Independent National Electoral Commission, INEC, is not showing any remorse for the sham of an election it conducted in 2023 which threw Nigeria under the bus.
Secondus further noted that with the “shameless boast” of the APC National Chairman Abdullahi Ganduje, that they will apply the Edo template in other forthcoming off-cycle elections in Ondo and Anambra states, it’s obvious that 2027 will not even come as the ruling party’s agenda is to create a one-party state by muzzling the opposition.
Secondus said, “The beauty of democracy is the opposing voices that help to check the ruling party but APC is set to ground Nigeria with their misrule yet won’t tolerate variance views.
“Nigeria’s democracy is sitting on the keg of gunpowder because of rigging. If the Edo Election stands it will be difficult to carry on elections in Nigeria going forward.”
He reiterated that the election manipulation in Edo state, was brazen and it started by harassing and arresting leaders of the opposition and compromising strategic players like security agencies and electoral officials.
“The world is watching the shame we bring to this beautiful form of government that other nations apply to stabilize and develop their countries.” He said.
[Vanguard]
Aliko Dangote, the founder of Dangote Petroleum Refinery, says this is the right time for the federal government to stop petrol subsidy.
Dangote spoke during an interview with Bloomberg TV on Monday.
“I think it is the right time to (take away subsidy) because all countries have gotten rid of subsidy,” he said.
He said subsidy is a sensitive issue, adding that once a country subsidises the product, people would increase the price.
Dangote said it would lead to the government “paying what they are not supposed to be paying”.
DANGOTE TO TRACK PETROL SOLD LOCALLY
Dangote said the petrol sold locally by his refinery will be tracked to ensure the consumption rate is accounted for.
“But this refinery will bring quite a lot of issues out there. It would show the real consumption of Nigeria because nobody can tell. Some people say it is 60 million litres per day, some say it is less,” the billionaire said.
“But right now, by us producing, everything can be counted and accounted for. Most of the trucks or ships that will load from us, we will put a tracker on them to be sure they are going to take the oil within Nigeria and that can help the government to save a lot of money.
“For example, Saudis, the citizens believe that oil is our god-given gift and should not charge us for it. Government was selling it at a very low price. But today, as we speak, gasoline is about 40 percent cheaper in Nigeria than in Saudi Arabia, which I think does not make sense.”
‘FG CAN’T AFFORD SUBSIDY’
Dangote said petrol subsidy is not sustainable and the government cannot afford to keep subsidising.
“Our price of gasoline is about 60 percent the price of our neighbouring countrries and we have porous borders, so it is not sustainable. Government cannot afford the amount of subsidies we are paying,” he said.
Speaking further on the viability of petrol subsidy, Dangote said it is the government’s decision to either continue with or halt the payments.
“We have a choice of exporting when we produce and we sell locally. We are a private company and it is true we have to make a profit,” he said.
“We built something worth $20 billion, and definitely we have to make money.
“The removal of subsidy is totally dependent on the government, not on us.
“We cannot change the price but I think the government would have to give up something for something.”
Dangote said eventually, the subsidy would have to go.
On May 29, 2023, President Bola Tinubu said the petrol subsidy regime was over.
Almost three months later, TheCable reported that Tinubu was considering a “temporary subsidy” on petrol as crude oil prices and foreign exchange rates soared.
However, Ajuri Ngelale, former presidential spokesperson, said there was no reintroduction of subsidy.
Also, on January 3, the Nigerian National Petroleum Company (NNPC) Limited denied the return of the petrol subsidy, saying it had been removed entirely.
However, on April 15, Nasir el-Rufai, former governor of Kaduna state, said the federal government is spending more on petrol subsidy than before.
TheCable also reported on August 19 that Tinubu approved a request by NNPC to utilise the 2023 final dividends due to the federation to pay for the petrol subsidy — but NNPC denied the existence of petrol subsidy, only to admit hours later that the federal government owes it N7.8 trillion for subsidising petrol.
Almost a month later, Tinubu said Nigeria’s daily consumption of petrol reduced to about 30 million litres after subsidy removal.
[TheCable]
Kenyan exec. Peter Ndegwa's Safaricom partners with Mastercard to accelerate cross-border remittance
Admin
Key Points
- Safaricom and Mastercard formed a strategic alliance to enhance digital payment acceptance and cross-border remittances in Kenya.
- Over 636,000 M-PESA merchants will benefit from Mastercard's global payment infrastructure, expanding their reach to international markets.
- Ndegwa bolstered his influence by increasing his personal stake in Safaricom, demonstrating confidence in the company's future.
Safaricom, East Africa's telecom giant led by Kenyan tycoon Peter Ndegwa, has secured a strategic alliance with Mastercard to enhance payment acceptance and improve cross-border remittances in Kenya. The collaboration is set to accelerate the growth of digital payments, reinforcing Safaricom’s leadership in financial innovation across the region.
The partnership is poised to benefit more than 636,000 merchants using Safaricom’s M-PESA mobile money platform, as Kenya’s digital payments landscape continues its rapid expansion. Mobile wallet payments, driven largely by M-PESA, are projected to grow at an annual rate of 12.7 percent from 2020 to 2024, further cementing M-PESA’s dominant market presence.
The initial phase of the partnership is set to roll out in the coming months, with Safaricom planning to acquire a license that will further enhance its digital payment capabilities. Both companies have committed to promoting financial inclusion and fostering innovation within Kenya’s rapidly evolving digital economy.
Driving global payment solutions
By integrating M-PESA’s extensive merchant network with Mastercard’s global payment infrastructure, the partnership aims to deliver secure, seamless, and scalable payment solutions.
This will enable Kenyan merchants to expand their reach to international markets, while also improving remittance services for cross-border transactions.
Mastercard's omnichannel payment solutions will further accelerate the adoption of digital payments, facilitating faster and more reliable money transfers.
"We are thrilled to partner with Safaricom in building an inclusive digital economy that benefits everyone," said Amnah Ajmal, Executive Vice President for Eastern Europe, Middle East, and Africa at Mastercard. "This partnership empowers merchants to grow and significantly contribute to the Kenyan economy."
Esther Waititu, Chief Financial Services Officer at Safaricom, added: "Our collaboration with Mastercard unlocks new opportunities for M-PESA merchants, in line with our mission to deliver innovative, customer-centric solutions. With Mastercard’s global network, businesses can now offer more efficient and seamless payment options domestically and internationally."
Innovative solutions shape Safaricom's future
Safaricom, founded in 1993 and headquartered in Nairobi, is a leading provider of telecom services in Kenya, offering a wide range of products including mobile, fixed-line, M-PESA payments, voice services, and cloud hosting.
Under Ndegwa’s leadership, the company has solidified its dominance in the Kenyan market and made strategic expansions across Africa.
Earlier this year, Ndegwa increased his personal stake in Safaricom by acquiring 8.64 million shares, further consolidating his influence in the telecom sector. Additionally, the company launched a micro-payment feature allowing customers to purchase airtime for as little as Sh1.00 ($0.0068) via M-PESA, underscoring its commitment to financial inclusivity.
Safaricom's recent foray into Ethiopia has also expanded its footprint in the region. The company has partnered with Huawei to explore innovative solutions like "Scan & Order" for restaurant menus, signaling its focus on advancing digital technology across its markets.
[billionaires.africa]
The yellow metal settled back a bit during the European session on Monday after reaching a new peak of $2,631 earlier , as markets remain focused on the increasing likelihood of the Federal Reserve cutting rates.
At the same time, instability in the Middle East is boosting appetite for gold.
For this reason, potential Fed rate cuts serve as catalysts for gold, reducing the opportunity cost of holding an asset that does not pay interest.
Hedging involves protecting business cash against negative changes like inflation or currency depreciation.
Gold helps safeguard against instability in governance, a common occurrence in less developed markets.
JP Morgan noted in a research report that various factors, including growing geopolitical risks, the outlook for interest rates, concerns about the budget deficit, inflation hedging, and central bank purchases, have contributed to the sustained rise in gold prices in 2024.
Expectations that the Federal Reserve would lower interest rates up to three times in 2024, as persistent inflation began to diminish, contributed to gold’s explosive growth this year. However, current estimates indicate that only one rate reduction is planned for the remainder of 2024.
Central banks have increased their appetite for gold. Demand for gold has primarily been driven by central banks, as nations like China, Turkey, and India seek to diversify their reserves away from the US dollar—particularly in light of the West’s decision to freeze Russia’s dollar assets following its invasion of Ukraine.
JPMorgan estimates that central banks bought over a thousand metric tons of gold last year. The People’s Bank of China embarked on its longest-ever buying spree, an 18-month period of purchases that concluded in May. Additionally, India’s central bank increased its gold holdings in June by the largest amount in nearly two years.
According to the World Gold Council’s Q2 2024 report, global gold demand rose 4% year over year to 1,258 tons, marking the highest second quarter in our data period. Healthy over-the-counter sales, up a noteworthy 53% year over year at 329 tons, supported overall demand.
Market fundamentals indicate that gold prices are being driven by a slowdown in ETF outflows, increased OTC demand, and ongoing central bank purchases. Global gold holdings by central banks and government institutions rose by 183 tons, reflecting a 6% year-over-year growth despite a slowdown from the previous quarter.
The World Gold Council’s annual central bank poll revealed that reserve managers anticipate an increase in gold allocations over the next year due to the need for portfolio diversification and protection in a complex economic and geopolitical landscape.
A Relatively Weak Dollar Supports Gold’s Bottom Line
A declining US dollar and lower US interest rates have historically made non-yielding bullion more appealing. Commerzbank Research has increased its gold forecast, projecting three rate cuts by the end of this year and three more in the first half of 2025 by the Federal Reserve—two more than initially projected.
Investors often prefer exposure to riskier assets like corporate bonds and stocks over defensive assets like cash, government bonds, and gold, which is why risk appetite and gold are inversely related. Although concerns about a recession subsided over the past week following the release of a disappointing payroll report, recent data has indicated weakness in key sectors like homebuilding, which could support a more aggressive Fed rate reduction.
When long-term rates appear less promising, yield-producing assets such as bonds tend to lose their appeal, creating an environment where gold typically rallies.
[Nairametrics]
38-Year-Old Iran-bound Drug Mule Arrested At Nigerian Airport, Excretes 76 Pellets Of Cocaine
AFOLABI
The National Drug Law Enforcement Agency (NDLEA) has arrested a 38-year-old alleged drug mule, Okafor Ifeanyi Anthony, at Mallam Aminu Kano International Airport (MAKIA) in Kano for drug trafficking.
This is contained in a statement issued on Sunday by Femi Babafemi, NDLEA Director of Media & Advocacy, stating that the suspect was arrested on Sunday, September 15, 2024.
He affirmed that Okafor was arrested while attempting to board a Qatar Airlines flight to Iran via Doha with 76 pellets of cocaine in his stomach.
Babafemi added that Okafor excreted 76 pellets of the ingested cocaine weighing 1.267kg, after three days in excretion observation.
The statement reads, “At the Mallam Aminu Kano International Airport (MAKIA), Kano, NDLEA operatives on Sunday 15th September arrested a 38-year-old drug mule, Okafor Ifeanyi Anthony while attempting to board a Qatar Airlines flight to Iran via Doha with 76 wraps of cocaine in his stomach.
"After three days in excretion observation, Okafor excreted the 76 pellets of the ingested cocaine weighing 1.267kg.
"Similarly, NDLEA has intercepted a total of Twenty-Five Million (25,000,000.00) pills of tapentadol, an opioid three times stronger than tramadol and Three Hundred and Fifty Thousand (350,000) bottles of codeine-based syrup at the Tincan port complex in Lagos.
"The seizures were made on Tuesday 17th and Friday 20th September 2024 from three containers which had been on the watchlist of the Agency following processed intelligence. As a result, the NDLEA had requested for 100% joint examination of the shipments with men of the Nigeria Customs Service and other security agencies.
"The 25 million pills of tapentadol have an estimated street value of Thirteen Billion Seven Hundred and Twenty-Five Million Naira (N13,725,000,000.00) while the codeine consignment has an estimated street value of Two Billion Four Hundred and Fifty Million Naira (N2,450,000,000.00), bringing the total value of the seizures to Fourteen Billion Nine Hundred and Fifty Million Naira (N14,950,000,000.00).
"The tapentadol consignment packed in 500 cartons was discovered in one of the containers on Tuesday 17th September while another container examined same day contained 175,000 bottles of Barcadin cough syrup with codeine packed in 875 cartons. The third container containing 175,000 bottles of CSC cough syrup with codeine was examined on Friday 20th September.
"In Kogi state, NDLEA officers on patrol along Okene-Lokoja-Abuja expressway on Tuesday 17th September recovered 700,000 pills of exol-5 coming from Lagos for distribution in Kano and Kaduna, while a suspect Udemefuna Chibuike, 23, was arrested by operatives on Friday 20th September along Mokwa-Jebba road, Niger state, in possession of 49,000 tablets of tramadol, 20,000 tablets of diazepam, 100 ampoules of tramadol injection and 50 bottles of cough syrup with codeine.
"A total of 451 blocks of cannabis weighing 213kg were intercepted along Azikiwe road, Port Harcourt, Rivers state on Wednesday 18th September, by NDLEA officers who apprehended a suspect Ogochukwu Paul, 33, conveying the consignment to a notorious drug haven in Borikiri.
"While operatives in Plateau state on Friday 20th September arrested a wanted suspect Jonathan Ali Abuttur, 46, at Agingi- Rukuba road Bassa LGA in possession of 808kg of cannabis sativa concealed in 68 bags of sugar and fertilizer, their counterparts in Kwara also nabbed Shaibu Musa with 28kg of the same psychoactive substance."
Nigeria’s Minister of Defence, Mohammed Badaru has called for reform of the United Nations Security Council, asserting that Africa should be represented with permanent seats to enhance global stability.
Addressing the 79th United Nations General Assembly (UNGA) in New York, Badaru highlighted Nigeria’s extensive contributions to UN peacekeeping operations.
Speaking at the Summit of the Future during the dialogue on “Enhancing Multilateralism for International Peace and Security,” Badaru stated, “Since our first deployment in the Congo in 1960, Nigeria has contributed to 41 peacekeeping missions globally,” noting that over 200,000 Nigerian troops had been deployed in UN operations over the decades.
Badaru pointed to Nigeria’s unwavering commitment to international peacebuilding and security, saying, “Nigeria has remained unequivocal in its commitment to international peacebuilding and security, since the first engagement of its troops in the Congo in 1960.”
He further emphasised the significance of Nigeria’s role in regional conflicts. “Under regional and sub-regional cooperation, Nigeria has been involved in peacekeeping operations in Cote d’Ivoire, Guinea-Bissau, The Gambia, Liberia, Mali, Sudan, and Sierra Leone, among others.”
The Defence Minister used the opportunity to press for UN Security Council reform, arguing that Africa’s exclusion from permanent membership undermines global peace efforts.
“Nigeria continues to call for the reform of the United Nations Security Council to give just representation to Africa on a permanent basis for inclusivity and deepening of global peace and security,” he said.
Badaru also underscored the importance of strengthening African military capacity to fight terrorism.
He stressed the need for the operationalisation of the African Standby Force (ASF) and the establishment of a Counter-Terrorism Centre of Excellence in Africa.
“We recognise the need for Africa to build strong and professional armies, in order to, among other things, defeat terrorism.
“Nigeria calls for the operationalisation of the African Standby Force (ASF), and provision of requisite support and resources to ensure the upgrade, take-off and effectiveness of a Centre of Excellence in Africa on issues of counterterrorism,” he noted.
On the issue of transnational crime, the Defence Minister warned of rising alliances between bandits and terrorists, highlighting the impact of kidnapping for ransom and acts of piracy.
He called for a comprehensive approach to tackling organised crime, stating, “We must scale up our efforts,” referring to the urgency of combating illegal arms trafficking in the Sahel region.
Badaru further urged the international community to intensify efforts to control the proliferation of small arms and light weapons in conflict zones, particularly in the Sahel.
“We seize this opportunity to urge the international community to renew efforts to stem the tide of small arms and light weapons in conflict, especially within the Sahel region where unfettered access by non-state actors to illicit arms and light weapons continues to foster insecurity and instability,” he said.
He reaffirmed Nigeria’s dedication to supporting UN initiatives in promoting global peace and combating terrorism.
[Leadership]
More...
“Stop checking if your partner is cheating on you” – Actress Rita Edochie Shares Advice on Building a Joyful Marriage
AFOLABI
Veteran Nollywood actress Rita Edochie has offered words of wisdom on cultivating a happy and healthy marriage.
In a recent Instagram post, Rita Edochie encouraged her followers to shift their focus away from suspicion and towards nurturing their partner’s happiness.
She suggested that prioritizing a partner’s happiness can help build a strong and faithful relationship.
In her words :
“Stop checking if your partner is cheating on you; rather, check if your partner is happy. A happy partner cannot cheat unless your partner is naturally a dog.”
In reaction, many appreciated her perspective on fostering a positive relationship, However, some individuals acknowledged that the complexities of infidelity cannot be solely addressed by ensuring happiness.
@chioma_nwobi_ stated: “Mummy we are not in 1980! These days people happily cheat on their partners.”
@effedeborah insisted: “A happy partner can’t cheat ke? As a matter of fact, It is the happiness that will even drive them to go and cheat.”
@joyousbestedibles also added, “On this particular note, I would say women never blame yourself when your partner cheats. It has nothing to do with you making them happy or not. It’s definitely who he is. Whether happy or not. A cheat is a cheat whether happiness is involved or not.”
The European Union has released €5.4 million in humanitarian aid to help the most affected populations in the aftermath of the devastating floods in Chad, Niger, Nigeria, Cameroon, Mali and Burkina Faso.
More than 4.4 million people are estimated to be affected in the six countries.
Floods have led to the destruction of houses, public health facilities, water systems, schools and sanitation facilities as well as roads, infrastructures, and agricultural areas.
Moreover, the lack of access to water, hygiene, and sanitation services is increasing the risk of spreading waterborne diseases.
The EU in a statement on Monday, said: “This funding will help our humanitarian partners on the ground to provide immediate aid and respond to the most urgent needs concerning food, shelter, access to clean water and sanitation and other essential services in the hardest-hit areas.
“The amount will be distributed as follows: Chad €1,000,000; Niger €1,350,000; Nigeria €1,100,000; Mali € 1,000,000; Cameroon €650,000 and Burkina Faso €300,000.”
The funding comes in addition to €232 million in humanitarian assistance already allocated to these countries so far this year.
In addition, the EU and its partners had already responded to the immediate consequences of floods in Liberia, Guinea, Chad, Nigeria, Niger, Cameroon and Mali, through timely adjustments to ongoing actions and contributions to the Disaster Response Emergency Fund (DREF) of the International Federation of Red Cross and Red Crescent Societies (IFRC).
Janez Lenarčič, EU Commissioner for Crisis Management, said: “Excessive rainfalls have lashed the Sahel and Lake Chad regions with unprecedented impact, displacing millions and causing widespread suffering and damage.
“We are mobilising all means at our disposal to help the most vulnerable in the flood-stricken countries, so they can receive much-needed relief.”
Many areas have been impacted way harder than during previous flooding events. The exceptional precipitations recorded in Mali are the highest since 1967.
In Niger, over 1 million people have been affected. The number rises to 1,5 million people in Chad, where more rainfall is expected.
In Nigeria, the Northern regions, already impacted by a severe food and nutrition crisis driven by conflict, insecurity and high inflation, are among the hardest hit and the failure of a dam in the Maiduguri area has severely worsened the situation.
Approximately, 641,600 people are now estimated to be displaced and more heavy rainfall is forecast.
[DailyTrust]
Nigeria’s currency, the Naira depreciated by 51.5 percent against the dollar at the official market in the last year under Central Bank of Nigeria, CBN, governor, Olayemi Cardoso.
This comes as Cardoso clocked a year in office after his appointment on September 15, 2023.
The performance of the Naira against the dollar in the foreign exchange market is far from impress despite multiple interventions by the Cardoso-led CBN.
This comes as data from the FMDQ showed that the Naira dropped from N1,541.52 per dollar on 22 September 2024 from N747.76 recorded in the corresponding period last year.
In the period, the Monetary Policy Committee, MPC, led by Cardoso raised the monetary policy rate (MPR) four times to 26.75 percent to combat inflation, which stood at 32.15 percent in August 2024.
The MPC is currently meeting to decide on whether to hike interest or pause the increase.
Meanwhile, in the last months, CBN showed that the country’s external reserves hit a 22-month high of $37.39 billion as of September 19, 2024.
Despite, the policies orchestrated by the Cardoso-led CBN, Nigerians have continued to groan over harsh economic realities occasioned by high prices of food and spiralling energy costs.
[DailyPost]
President Bola Ahmed Tinubu has directed security and law enforcement agencies to scale up efforts at cracking down individuals or organisations involved in cybercrime and transnational car theft.
A statement in Abuja by his Special Adviser on Information on Strategy, Bayo Onanuga, said the President also sent a strong message to the global community, affirming that Nigeria would not be a haven for illicit wealth from foreign countries.
The President hailed the Economic and Financial Crimes Commission (EFCC) for its recent handover of 53 vehicles and $180,300 to the Royal Canadian Mounted Police (RCMP) to be returned to two Canadian citizens who were victims of cybercrimes perpetrated by some Nigerians.
Here are five Nigerians serving jail terms in the USA for cybercrime
1. Invictus Obi
Celebrated entrepreneur Obinwanne Okeke popularly known as Invictus Obi was handed a ten-year prison sentence on Tuesday, February 16, 2021, by a U.S. federal court for masterminding an $11 million cyber fraud on a British company.
Okeke was held in the US since August 2019 on charges of computer and wire fraud and had previously pleaded guilty.
“In April 2018, a Unatrac executive fell prey to a phishing email that allowed conspirators to capture login credentials,” according to the court statement.
“The conspirators sent fraudulent wire transfer requests and attached fake invoices. Okeke participated in the effort to victimize Unatrac through fraudulent wire transfers totaling nearly $11 million, which was transferred overseas,” the statement added.
He formally pleaded guilty to charges relating to $11 million computer-based fraud transacted between 2015 and 2019.
2. Hushpuppi
Rahman Abbas, a popular Instagram celebrity, known as Hushpuppi, Hush, or Ray Hushpupp is serving a sentence of 11 years in the US.
Hushpuppy, now convicted as a notorious fraudster, was sentenced by United StatesI, who also ordered him to pay $1,732,841 in restitution to two fraud victims.
He was sentenced in the United States District Judge Otis Wright to 11 years for conspiracy to launder money obtained from business email compromise frauds and other scams, including schemes that defrauded a US law firm out of approximately $40 million, illegally transferred $14.7 million from a foreign financial institution, and targeted to steal $124 million from an English Premier League club.
3. Abidemi Rufai
A United States district court on Monday September 26, 2022 sentenced Abidemi Rufai, a suspended aide of Governor Dapo Abiodun of Ogun State, to five years’ imprisonment for fraud.
The District Court in Western Tacoma in Washington jailed Rufai for wire fraud and aggravated identity theft.
With the stolen identities, he attempted to steal nearly $2.4 million from the United States government, including approximately $500,000 in pandemic-related unemployment benefits.
Mr Rufai, 45, who pleaded guilty to the charges in May, was said to have succeeded in defrauding 12 US agencies of $600,000 paid out into bank accounts controlled by him.
4-5. Samuel and Samson Ogoshi
A US court on Friday, September 6, sentenced two Nigerian brothers, Samuel Ogoshi, 24, and Samson Ogoshi, 21, to 17 years and six months in prison.
They were sentenced for their involvement in a sextortion scheme that tragically led to the suicide of 17-year-old Jordan DeMay.
They sent DeMay a friend request on Instagram, pretended to be a girl his age, and flirted with him.
The brothers lured DeMay into sending them explicit images by pretending to be a girl his age and threatened to send his pictures to his friends if he did not send him money.
DeMay sent as much money as he could and pleaded with the scammers, threatening to kill himself if they spread the images.
“Good… Do that fast, or I’ll make you do it,” the brothers replied.
However, DeMay took his own life less than six hours after their initial conversation on March 25, 2022.
This case marks the first successful prosecution of Nigerians for sextortion in the U.S., highlighting a growing trend of such crimes linked to Nigeria.
The brothers were extradited to the US in August last year to face prosecution over numerous cases of sexual extortion of young men and teenage boys on social media linked to them.
They pleaded guilty in April to conspiring to exploit teenage boys in Michigan and across the US sexually.