I will Recommit to People's Welfare -Erelu Adeleke

Governor Ademola Adeleke has called on traditional rulers to deepen unity among their ranks even as he spoke on his plans for the agricultural sector.

The Governor represented by the Commissioner for Agriculture, Hon Tola Faseru made the call at the coronation of the wife of the Governor, Her Excellency, Erelu Ngozi Adeleke as the Erelu Soludero of Erinmo Ijesa.

The paramount ruler of Erinmo land, His Royal Majesty, Oba Odunayo M. Ajayi, Arowotawaya II had this Saturday conferred the prestigious title on Mrs Adeleke who was already the Erelu Soludero of Oke Ila in Ifedayo Local Government.

Governor Adeleke expressed heartfelt appreciation to his royal highness for conferring this prestigious title on my wife, Erelu Ngpzi Adeleke, adding that “This is an open demonstration of affection and love for my family and the entire Adeleke dynasty.

“I must congratulate my dear wife for this honour conferred on her and the family. This chieftaincy title symbolizes the sustained efforts of our government and the Adeleke family to bring succor to the people of the state. I thank Kabiyesi for honoring my wife. This will propel us to do more for the people of Osun state”, the Governor posited.

While congratulating the royal father on his coronation anniversary, the State used the opportunity to affirm the importance of royal institutions, submitting that “ the contributions of our royal institutions to communal and state development cannot be brushed aside. 

“In the turbulent art of governance, our royal fathers provide invaluable counsellings and moral support which steadied the ship of state and facilitated good governance.

“Our government will continue to accord traditional rulers their rightful place in the scheme of things. We will continue to consult and tap into the fountain of wisdom for which our fathers are made of. 

“In this collaborative effort for the good of the people, our government will not abandon its responsibility to deliver dividends of democracy and to lift our people out of poverty and under-development.

“I must however plead with our royal fathers to revive and deepen the old spirit of unity across the traditional councils. We must avoid actions and inactions that breed disunity and fragmentation. 

“A united traditional council across the local government will strengthen the capacity of our royal fathers to influence government policies. The increasing sign of fragmentation is worrisome and constitutes a threat to the sanctity of our traditional institutions”, Mr Governor advised.

On state governance , Governor Adeleke told the gathering that his government is implementing several initiatives in the agriculture sector. 

According to the Governor , “We are specifically pursuing expansion of activities within such sub-sectors as cocoa, cashew and rice value chains. We will support provisions of facilities for paddy rice processing as well as further incentives for farmers in that sector. 

“We are extending similar back up to farmers for other cash crops as a deliberate strategy to expand the state economy and deepen the state Gross Domestic Product (GDP).

“In the next few days, our government will be unveiling and distributing several farm equipment and inputs including tractors, fertilizers and seedlings. This is a golden era for our farmers. We are determined to raise Osun into an agro-industrial state with excellent infrastructure for economic sustainability”, Governor Adeleke narrated.

I will Recommit to People's Welfare -Erelu Adeleke

Responding to the coronation, Erelu Ngozi expressed appreciation to the royal father and the entire people of Erinmo Ijesha , pledging to "redouble her efforts towards development of the town and realization of the aspirations of the young and the old in the state.

" I will push ahead with a vision of an Osun State where every citizen is empowered, embraced, and equipped to reach their full potential. I envision a future where compassion, integrity, and innovation drive our efforts to create inclusive opportunities for all.

"Together, we will champion education, healthcare, and sustainable development, ensuring that no one is left behind. With unity and determination, I will build a legacy of resilience, prosperity, and hope for generations to come", the new Erelu told the gathering.

Erelu Ngozi Abeni Adeleke founded the Esther Adeleke Humanitarian Foundation, an NGO dedicated to providing healthcare services, food aid, and education to those in need.

She is affectionately known as “Mummy Triplets” for her unwavering commitment to supporting families blessed with twins and triplets in Osun state. Through her foundation, she is providing care, support, and financial assistance to four sets of triplets and three sets of twins and still counting.

The Erelu has earned many honours and awards in recognition of her immeasurable contributions to the well being of children, women and less privileged members of the society.

The event was attended by the Ooni of Ife, Oba Enitan Ogunwusi, the Chief of Staff to the Governor , Hon Kazeem Akinkeyeand his wife, members of the State Executive Council, Hon Ibukun Fadipe, and other dignitaries from home.and abroad.

Signed:

Mallam Olawale Rasheed,

Spokesperson to the State Governor.

The month of August is typically filled with celebrations in my household – a wedding anniversary and two birthdays; but this year, there’s additional reason for a drink. It is the 40th anniversary of my debut as an opinion writer. It was in August 1984 that my first opinion piece appeared on the op-ed page of The Guardian newspaper – beginning what has turned out to be a lifelong passion. Titled ‘’The way we are’’, the piece was a piercing review of the insincerity within the Buhari military government. The Nigerian Prisons Service had taken out several pages in newspapers to advertise for tender for the supply of firewood to prisons across the country, essentially undermining a national campaign against deforestation, launched earlier in the year by the same government, to check desertification in the North and erosion in the South. In my young mind (I was only 23, going to my final undergrad year), I could sense internal conflict within the government that had prided itself as a no-nonsense disciplinarian out to correct the ills of the society.

How could a government launch and fund such a massive campaign, asking citizens to plant trees and protect environment, and at the same time, a department in the same government is seeking contractors to supply firewood to be used for cooking food for millions of prisoners. From where would the firewood come? The article, I understood, caused some dismay within the Buhari/Idiagbon government and triggered a search for alternative cooking fuels in the prisons.

Since that first outing, I have been writing regularly, virtually on every subject under the sun - apart from religion - asking questions, criticizing, analyzing, proffering solutions and taking leaders to task. I have found no other art more innervating than writing. It is, indeed, one of God’s noblest gifts to humanity and it has given me a voice to refine my ideas and reach out to the world.

A lot has happened since then. The ownership, composition and structure of the media have changed considerably, just as the character of the newsroom and the production processes of news have also been transformed. But the most fundamental change was wrought by the Internet and subsequent births of the social media and online publications. The media now includes a wide range of electronic platforms, while journalism has a new variant known as ‘’citizen journalism’’, which is practiced by anybody with a handheld device. As a citizen-journalist, you don’t have to possess a formal or on-the-job training on the rudiments of journalism before you create a sensation. This variant has done a great disservice to the profession because it has little or no regard to ethics and standards.

Social media has also diminished kingdoms and dethroned emperors. When I wrote my first piece, the publisher was worshipped as an emperor and the editor venerated as a king. That era is long gone. The influential person is no longer a publisher or the editor with a daily print run of 400,000 copies. We now have young social media ‘influencers’ with over five million followers on Instagram or Tiktok. Brands flock to them for endorsements, while newspapers scrounge for obituaries to survive.  

Writers and readers now have bigger access to national platforms. When I debuted, it was hard for the editorial page editor to accept your work for publication. The copy had to be typed double-spaced and posted (or hand delivered) to the newspaper, addressed to the Editor. I posted mine at Uyo post office. Hundreds of such mails were received daily and you would be both lucky and outstandingly good to be chosen for publication. Today, there are many online publications to write for and any piece, whether good, sensational or simply fake, could go ‘viral’, reaching millions of readers. The tyranny of the publisher and his editor has been broken!

 With the growth of social media, a new ‘industry’ has emerged within the media: the production and distribution of unsubstantiated information. Whether it is disinformation, misinformation, malinformation or fake news, these materials are created and deliberately spread by competitors, divorced spouses, jilted lovers, aggrieved former employees or other persons to damage reputation of certain persons, brands or destroy businesses. Even the dead are not spared! Fake news makes truth hard to find and could also be one of the leading sources of danger to personal security and health. The ongoing violent riots in the UK were caused by the spread of fake news! Thankfully, the traditional media and some reputable online publications have remained impenetrable to fake news; and so, they are important source of news and information to the few that controls the most.

Forty years ago, columnists, opinion writers and pundits were fewer in number, but more influential than they are today. The military generals in power then, ever so eager to gain legitimacy, were attentive to what the pundits wrote. They read everything, and sometimes, responded harshly. But these days, I wonder whether our ‘democrats’ even read newspapers. While the military administrators were scared of negative public perception that could trigger a revolt within and outside the barracks, today’s ‘democrats’ are not bothered by our opinions because they do not owe their legitimacy to public acceptance. Many of them did not even get into office through a legitimate electoral process, and so the peoples’ voice doesn’t matter.

Reflecting on the essence of my maiden article, I marvel at how unchanged the character of the Nigerian government has been these past 40 years. It is still full of duplicity, hypocrisy and deceit. Officials inflict hardship on the people; ask them to tighten their belt and make sacrifices, while they revel in opulence and luxury, living large on the treasury. The way we are!

Former presidential candidate of the Labour Party (LP), Peter Obi, has said since Nigerian politicians took over from colonial masters, they have only contributed wickedness.

Peter Obi said most of the resources managed and maintained by the colonial resources were left to waste. He said he often doubted the essence of independence and how things were allowed to be wasted.

The former governor of Anambra State, in an interview with Why Not Afrika, while speaking on the economic opportunities in that Onitsha area of River Niger.

Obi recalled that the Onitsha area of River Niger used to be a beehive of economic activities. He explained that the colonial masters built so many resources in the area that generated revenue for the country, but all were left to ruin by the Nigerian leaders.

He noted that the River Niger, if harnessed like the River Nile of Egypt, can help the entire logistics system of the country. He regretted that every wealth created out of River Niger was left to waste.

“It is wasted resource. If you check the contribution of Nile to Egypt and you ask yourself what is the contribution of River Niger to Nigeria. So if two people have similar resources but one of them is yielding something and another is not.

“Since colonial masters left, everything they built was allowed to destroy, because nobody cares about the society, nobody cares about the people. There are so many resources we have that they have never cared about.

“You won’t know the amount of waste in this country. This alone if properly utilized can help the entire logistics system. All transportation for farm products used to go through this facility.

“They were all built by the colonial master. Since they left, it has been a waste. That is why I ask the question the essence of independence because the black man has not contributed anything except wickedness,” Obi said.

[NaijaNews]

Dangote Group’s subsidiaries have emerged as major recipients in the latest Retail Dutch Auction conducted by the Central Bank of Nigeria (CBN), purchasing at least $105.33 million in successful foreign exchange (FX) bids. 

This allocation represents about 13% of the $876.26 million that the CBN distributed among qualified banks. 

Zenith Bank, Access Bank, Providus Bank, Union Bank, and Sterling Bank were the primary banks that secured the most FX for Dangote’s firms in the latest CBN Retail Dutch Auction. Four of these banks are also on the list of the top 10 banks that got the most FX from the CBN’s auction. 

These banks played vital roles in facilitating the importation of essential raw materials, spare parts, and equipment, crucial for maintaining the operational efficiency of Dangote’s diverse industrial empire. 

Dangote Sugar Refinery got the most FX 

• Among the firms owned by Africa’s richest man, Aliko Dangote, Dangote Sugar Refinery led with $87.42 million FX bids. Dangote Sugar Refinery received significant allocations for the importation of Brazilian cane raw sugar. For example, one transaction involved the import of 16,000 metric tons of raw sugar, with a single bid amounting to $10.96 million. 

• Dangote Cement PLC, a dominant force in Africa’s cement industry, had a successful bid amount of $9.03 million. Several smaller allocations were directed toward the procurement of spare parts for cement plant machinery, particularly by Dangote Cement PLC. 

• The Dangote Oil & Gas Company Limited received $5.33 million from CBN’s auction. Dangote Oil & Gas Company Limited received substantial FX for the purchase of gasoil and low-pour fuel oil (LPFO), essential for energy production and industrial operations. The largest single bid in this firm amounted to $2.5 million for the purchase of 15,000 metric tons of gasoil. 

• Dangote Industries Limited was allocated $2.5 million, while Dangote Agro Sacks Limited received $941,600.96. The $2.5 million secured by Dangote Industries Limited was for the importation of a set of gas turbines. 

• Smaller allocations were made to Dangote Sinotruk West Africa Limited and Dangote Coal Mines Ltd, with $7,161.50 and $104,568.68 respectively.  

A significant portion of the foreign exchange allocated to Dangote’s firms was for importing spare parts for various manufacturing and industrial processes. For instance, Dangote Agro Sacks Limited’s FX bid was for spare parts needed for textile machinery and manufacturing equipment.  

What you should know 

Nairametrics earlier reported that companies under the Dangote Group lost about N1.21 trillion of their market capitalization in July 2024, as they all experienced a double-digit share price decline during the month.   

Dangote Cement, Dangote Sugar Refinery, and NASCON Allied Industries are the three subsidiaries of Dangote Group listed on the NGX. These companies’ share prices declined by 10%, 13.6%, and 19.8% respectively in July.  

The market losses by these companies during the month had an impact on the net worth of the group’s President, Aliko Dangote.  Dangote who is Africa’s richest man directly and indirectly through Dangote Industries Limited owns an 86% stake in Dangote Cement Plc, a 72.2% stake in Dangote Sugar Refinery, and a 62.19% stake in NASCON.  Hence the losses posted reflected a N1.02 trillion (~$680 million) hit to Dangote’s personal fortune.

According to the Bloomberg Billionaires’ Index, his net worth as of July 1, 2024, was about $14.8 billion. However, at the end of the month, it declined to $13.6 billion.   

The bulk of Dangote’s assets are his publicly quoted companies. However, his private assets such as the Dangote fertilizer plant were valued at $5.1 billion. The flagship of Dangote’s assets, the Dangote Refinery, is not yet valued amidst a myriad of controversies that have plagued the plant over the past month.  

The Federal Executive Council recently approved President Bola Tinubu’s proposal to sell crude oil to Dangote Refinery and other upcoming refineries in Naira. The landmark announcement by the federal government may help stabilize fuel pump prices and the dollar-naira exchange rate. 

[Nairametrics]

The Federal Government has terminated the contract for Section 1 of the Kano-Maiduguri road project awarded to Dantata & Sawoe Ltd since 2007. 

The termination, the Minister of Works, David Umahi, said was due to the expiration of the contract’s time frame, highlighting the government’s push to ensure that long-standing infrastructure projects meet their intended deadlines and deliver value for money.

The government also assured Bauchi Governor Bala Mohammed of immediate intervention to repair a flood-damaged section of the Kano-Maiduguri federal road within the State. 

The road was recently severed by floodwaters following a heavy downpour, leaving the local Malori-Guskuri community in Katagun Local Government Area cut off and severely impacting their livelihoods.

Speaking during a performance review meeting on road projects under the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme held on August 9, 2024, in Abuja with representatives from Dangote Group of Companies, BUA Group of Companies, and Mainstream Energy Solutions Ltd, the Minister revealed the government’s intent to revisit and revise the liability period for all federal projects to guarantee durability and optimal value for public funds.

According to a statement on Saturday by the Minister’s Special Adviser on Media Uchenna Orji, the Minister emphasised the importance of accelerating the completion of critical infrastructure projects, particularly those funded under the Tax Credit Scheme, which includes major roadways vital to the nation’s economy. 

“Going forward, there will be a clear agreement on milestone completion timelines for ongoing projects under the Tax Credit Scheme.

“My position as the Minister of Works is that everybody must take responsibility. We will no longer fold our hands and allow the projects we have awarded and even reviewed to continue to linger,” he said.

The Minister highlighted the President’s commitment to alleviating the suffering of Nigerians due to poor road conditions, expressing that the government will not tolerate delays in completing vital infrastructure projects. 

“Nigerians are suffering on these roads, and President Bola Tinubu is doing everything possible, giving the road sector special attention. It would be a failure on our part to allow contractors to delay these projects while ignoring the people’s suffering,” he stressed.

Calling for greater dedication from all parties involved, including funding partners, the Minister urged Nigerians to remain patient, emphasizing the importance of partnership and patriotism in supporting the President’s vision for national development. 

“We must all play our part to support the President’s divine vision to retake our country,” the Minister urged.

The Minister cited several ongoing projects under the Tax Credit Scheme that have experienced delays due to outdated pricing structures. 

The affected projects are under review to expedite their completion, he said, listing Dangote Group, BUA Group, Mainstream Energy Solutions as well as MTN Nigeria as the entities involved in the tax credit scheme with various projects across the country.

Dangote – the 35 km Apapa-Owonronshoki Expressway in Lagos State, the 38 km section of Abuja-Kaduna-Kano road dualization, the 49.577km Dikwa-Gamboru-Ngala road, Borno State, the construction of Nnamdi Azikiwe road (western bypass) in Kaduna State, the 49.153 km Bama – Banki road in Borno State, the reconstruction of 105km Obelle-Ilaro-Papalanto-Shagamu Road dualization, the reconstruction of 54.239km Deep Seaport in Lagos State, the 65.5 km Afikpo-Okigwe road in Ebonyi and Imo States being procured and the 53.7km of side lanes for the Lekki Deep Seaport in Lagos State being procured; 

BUA – the 20 km of roads in each of the three sections of Lokoja – Benin Highway, the 17.6km section of Abuja-Kaduna-Kano road( more 3 km to be included at the Kano axis), the 132.5km Kano-Kongollam in Kano, Jigawa, and Kastina States, the 130km Bode Sadu – Kaiama road, 42km Eyenkorin-Offa road, the 73km Lafiaji-Bacita road and the 37km Okuta-Kenu road all in Kwara State;

Mainstream – the 76.586km Malando – Ngasike – Wara road in Kebbi State, the 45.13km Sabon Gari – Yuni – Auna Road In Magami LGA of Niger State and the asphalt overlay of Mokwa-Nasarawa road in Niger State.

MTN – the dualization of 107km Enugu- Onitsha road. 

To address the flood damage in Bauchi State, the Minister directed a technical team from the Ministry of Works to assess the damage and propose an emergency solution to restore access and alleviate the hardships faced by the affected communities. 

“It’s unfortunate that when a job is completed by contractors, we don’t even enjoy the road for five years before we’re back to square one. This is why I’ve been advocating against the one-year liability period; poorly executed jobs can last a year, but not five,” he said. 

He also directed Mothercart Ltd, the original contractor for the damaged section, to join the assessment team and determine why the road failed.

The Minister commended efforts of Dangote Plc on the Apapa-Oworonshoki Expressway, the Lekki-Deep Seaport road, and the Nnamdi Azikiwe road in Kaduna while also praising BUA for their work on the Lokoja-Benin Highway at Ekpoma, 

While urging Mainstream Energy Solutions to accelerate their efforts on their respective projects, as the government pushes for the swift completion of the critical infrastructure projects, Umahi assured that the government remains committed to ensuring that Nigerians see tangible benefits from the investments, ensuring that the nation’s roads are safe, reliable, to contribute to the country’s economic growth.

[TheNation]

There was pandemonium in the Ibule Soro Community in Ifedore Local Government Area of Ondo State as some members of the state police command allegedly entered the town and disrupted the annual New Yam Festival celebration.

The New Yam Festival is celebrated annually to mark the beginning of the yam-eating season.

During the celebration, some policemen allegedly arrived at the venue and began shooting sporadically to disperse the crowd and prevent the continuation of the festivities.

It was reported that many residents were injured as they fled for safety, and both social and economic activities in the area were paralysed following the police’s alleged intervention.

A community member, who identified himself only as Ayo, said on Saturday that the police had disrupted the peace the community had been enjoying.

“There has been a serious crisis in Ibule Soro since yesterday. The situation was beyond my control as the police invaded us, shooting sporadically and terrorising the entire community. Teargas were used, severely affecting both the elderly and the younger generation. Many people ended up in the hospital because of this action.”

However, when contacted on Saturday, the state Police Public Relations Officer, Mrs Funmilayo Odunlami, denied that the police had invaded the community but explained that the police intervened to prevent a breakdown of law and order due to internal strife.

“The people of Ibule have been experiencing an internal crisis for some time. The command had previously invited the warring parties to lay down their arms and embrace peace, advising those aggrieved to seek legal redress in court.

“Unfortunately, the crisis escalated yesterday (Friday), so the police had to step in to prevent a total breakdown of law and order in the community,” the PPRO stated.

It was, however, reported that members of the community were divided over the festival’s celebration. The disagreement was between two factional groups in the community. The two groups disagreed on the date set for the celebration.

The town’s monarch, Oba Oluleke Ogunlade, had scheduled the New Yam Festival for 25 August to coincide with the first anniversary of his coronation. However, this did not sit well with members of the anti-Oba Ogunlade group, who chose to hold their New Yam Festival on Friday, claiming it was the traditional date for the celebration in the town.

[Punch]

The Nigerian contingent has officially wrapped up their Paris 2024 Olympics campaign with no medals, despite the participation of 88 athletes in 12 different sports.

Team Nigeria’s performance mirrored the country’s disappointing showing at the 2012 London Olympics, where the team also failed to win a medal.

The Minister of Sports, Senator John Enoh, described the team’s performance as a “disaster” and vowed to prevent a repeat of such results in the future.

Despite Nigeria not winning any medals, athletes of Nigerian descent secured medals at the Games.

Here are five athletes of Nigerian origin who won medals at the Paris 2024 Olympics.

Yemisi Ogunleye

Germany’s Yemisi Ogunleye grabbed the gold medal in the women’s shot put at the Paris Olympics on Friday, throwing her winning 20.00m with her final attempt.

With her victory, Ogunleye became the first German to win the shot put event in 28 years, since the Atlanta 1996 Olympics.

Ogunleye was born in Germany to a Nigerian father from Ekiti and a German mother.

After her win, Ogunleye acknowledged her diverse background in a video trending on social media and sang a Yoruba gospel song.

Annette Echikunwoke

Echikunwoke is the only athlete to have represented Nigeria in this list but opted to represent the United States after her disqualification at the 2020 Tokyo Olympics.

She missed out on competing in the hammer throw at the Tokyo 2020 Olympics because the Athletics Federation of Nigeria (AFN) failed to conduct the required drug tests for athletes. 

The 28-year-old, who holds the African record in the hammer throwing event, won an Olympic silver medal in women’s hammer throw.

Commenting on the feat, Washington Post quoted her as saying, “I’m happy it’s happening now. Everything happens for a reason, even if it’s bad or good or ugly. But this is beautiful.” 

Samu Omorodion

Born in Melilia, Spain,  to Nigerian parents, the 20-year-old forward is set to sign for Premier League side, Chelsea, from Atletico Madrid, according to football transfer expert Fabrizio Romano.

Omorodion was part of the Spanish side that defeated host, France, 5-3 in extra time to win Olympic gold in men’s football.

He scored just once in the competition, in a 2-1 loss to Egypt in the group stage.

Salwa Eid Naser

The Nigerian-born sprinter won silver for Bahrain in the 400m women’s event at the 2024 Paris Olympics.

She crossed the finish line in 48.53 seconds, trailing Marileidy Paulino of the Dominican Republic, who set a new Olympic record with a time of 48.17 seconds.

The 26-year-old formerly known as Ebelechukwu Agbapuonwu was born in Onitsha, Anambra.

Michael Olise

Bayern Munich’s new signing Olise was part of the French team that won silver in men’s football.

Olise was born in England to a Nigerian father and a French-Algerian mother.

His younger brother, Richard, plays for Chelsea FC in England.

[Vanguard]

Atiku Abubakar, former vice-president, has called on Nigerians to take a collective stance in supporting the Dangote refinery project, warning against any attempts to impede its progress.

Abubakar’s statement comes amid a conflict between the refinery and Nigerian regulatory authorities.

On August 8, the Dangote refinery said the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has been reluctant to enforce the domestic crude supply obligation (DCSO) to ensure that it receives its full crude requirement.

In response, the NUPRC denied the claim, stating that it facilitated the supply of 29 million barrels of crude oil to the refinery between January and June.

However, the Dangote refinery said it has not received the 29 million barrels of crude.

Speaking on the issue on Saturday, Atiku said the Dangote Refinery project is a significant investment that is “positioned to meet our energy and forex needs”.

The former vice-president also expressed concern over potential sabotage of the project.

He urged Nigerians to take “resolute actions” to ensure its success.

“Each parent eagerly awaiting the arrival of a child will dutifully undertake the necessary measures to ensure that the nurturing and development of this precious blessing remain a primary focus,” Abubakar wrote on X.

“This fundamental principle applies equally to investments, whether they be local or international.

“With this understanding, I am cautious in considering any deliberate attempts to impede the progress of the Dangote Refinery, a significant private sector project positioned to meet our energy and forex needs.

“Alongside numerous fellow citizens of goodwill, I call upon all Nigerians to take resolute actions to provide reassurance that both internal and external forces are not collaborating to prevent us from reaping the benefits promised by this eagerly anticipated transformative endeavour.”

On June 4, Aliko Dangote, Africa’s richest person, said some international oil companies (IOCs) are struggling to supply crude to his refinery.

Speaking on Arise TV on July 15, Gbenga Komolafe, chief executive officer of the NUPRC, described the claim as “erroneous”, noting that the Petroleum Industry Act (PIA) has provisions that guide willing buyer-willing seller transactions.

But a few days later, the management of Dangote Industries Limited (DIL) insisted that the IOCs were frustrating its request to purchase crude feedstock for the refinery.

[TheCable]

Key Points

• SendsPrint led by Damisi Busari acquires Nobel Financial, enhancing its U.S. presence to offer money transfer and gifting services from 16 states to African nations.
• Nobel Financial’s compliance team, led by Scott McClain, transitions to SendsPrint, ensuring strong oversight during U.S. expansion.
• The acquisition strengthens SendsPrint’s commitment to providing fast, secure, and affordable financial services to the African diaspora.

SendsPrint, a Nigerian cross border fintech startup led by Nigerian entrepreneur Damisi Busari,  has acquired Nobel Financial, a U.S.-based global remittance service provider, to enhance its footprint in the American market.

Nobel Financial, founded in 2014, offers remittance services from the U.S. to over 32 countries, including African, Latin American, Asian, and Middle Eastern markets. It also facilitates the sending of in-kind gifts such as rice to African recipients. Over the past decade, Nobel has served over a million customers worldwide.

This strategic move will enable SendsPrint to offer money transfer and gifting services across 16 states, including New Jersey, Maryland, and Georgia, to recipients in Nigeria, Ghana, Kenya, and other African countries.

SendsPrint looks to capitalize on U.S. opportunity with Nobel deal

“We recognized significant value in Nobel Financial, which underpinned this acquisition. The U.S. market presents a substantial opportunity for us, and we’re eager to bring our people-focused technology and deep understanding of African diasporas to ensure our expansion is successful,” said Damisi Busari, CEO and founder of SendsPrint.

As part of the acquisition, Nobel Financial’s Chief Compliance Officer, Scott McClain, and his team will join SendsPrint. McClain will continue his role at SendsPrint, ensuring strong oversight as the company scales its U.S. operations.

Fintech startup SendsPrint targets Africa’s growing remittance market

Established in 2022 by former Flutterwave executive Damisi Busari, SendsPrint provides a flat fee of $5 for cross-border transfers. With operations in the U.S., UK, Ghana, Kenya, South Africa, and Nigeria, the company promises swift transactions, often completed within 30 minutes, and secured by advanced measures like two-factor authentication and real-time monitoring.

Under Damisi Busari, SendsPrint is dedicated to enhancing the African diaspora experience through innovative technology, strategic partnerships, and comprehensive financial services. The startup has partnered with over 3,000 retailers across Africa, including major players like Shoprite and Jumia, to facilitate gift card transfers throughout the continent.

[https://billionaires.africa]