Connect with us

NEWS

World Bank Disburses $1bn Zero Interest For Lake Chad Region

Published

on

World Bank deploys $114.9 to finance global crises in 2022

 

The crises ridden Lake Chad region is about getting some reprieve, in the areas that money can solve, because the World Bank has made one billion dollars, in zero interest financing available for affected countries to manage the situation.

 

Country Manager, World Bank for Chad, Rasit Pertesv, expressed optimism that the amount would help tame insurgency, while announcing the intervention on Thursday, in N’Djamena, during the Fourth Lake Chad Governor’s Forum meeting.

 

Biztellers gathered that the forum is a coming together of the affected countries, made up of Chad, Cameroon, Niger, and Nigeria to synergise on solving the crises.

 

It is expected that they will take the opportunity to evaluate the dynamic patterns of the crises, which has given rise to widespread displacement, damaged the social fabric, and interrupted public services, in the face of weakened institutional capacities across the affected countries, which the $1bn is expected to address.

 

According to Pertesv the intervention is meant to assist the affected countries in stepping-up economic development, job creation, and improving the lives of people who had borne the brunt of the crises.

 

He maintained that the zero-interest financing from the International Development Association (IDA), provided support for two major regional development priorities which include the recovery of livelihoods to reduce the vulnerability of people living in Lake Chad

 

It would go a long way in expanding cross-border economic activity to spur greater opportunity and integration in the areas of agriculture, energy, transport, and regional trades, the country manager, added.

 

He commended the regional stability programme aimed at restoring and improving security in Lake Chad and called for redoubled efforts toward sustainable recovery in areas that were economically affected.

 

On his part, Executive Secretary, Lake Chad Basin Commission, Amb. Mamman Nuhu stressed that prevailing poverty, unemployment, and illiteracy created a susceptible environment for the extremist group’s ideology to spread rapidly among communities in the Lake Chad region.

 

The ES pointed out that that the region’s majority youth population, traditionally reliant on farming and cattle rearing, had their livelihoods disrupted, making them vulnerable to Boko Haram’s propaganda.

 

“Since the development of the Regional Strategy for Stabilisation, Recovery, and Resilience (RS-SRR) in 2018, the strategy has acted as a regional architecture for responding to the complex security, humanitarian and development issues plaguing the region.

 

“It emphasises the need for a comprehensive, multi-sectoral, and coordinated set of sub-national, national, and cross-border initiatives to achieve long-term stabilization, recovery, and resilience.

 

“As a result, several initiatives and programmes have sprung up to facilitate regional cooperation, respond to humanitarian needs, and foster peace and development in the region, one of which is the Lake Chad Basin Governors’ Forum,” Nuhu said.

 

In the same vein, Commissioner for Political Affairs, Peace and Security, African Union Commission, Amb. Adeoye Bankole, described the Lake Chad Basin Governors Forum is an essential platform for promoting sustainable regional peace and security in the region.

 

“The African Union encourages further collaboration among member states and international partners to support the forum’s efforts towards consolidating peace in the region and creating better opportunities for the people of the Lake Chad Basin,” he added.

Click to comment

NEWS

Just In: Tinubu Meets FBI Director, Calls For Stronger Collaboration To Fight Cybercrime, Terrorism

Published

on

President Bola Ahmed Tinubu has called for stronger collaboration between Nigeria’s law enforcement agencies and the United States’ Federal Bureau of Investigation (FBI) in the fight against cybercrime, terrorism, and other related crimes.

The Special Adviser to the President
(Media & Publicity), Ajuri Ngelale, made the disclosure in a statement on Friday.

The President spoke during a meeting with FBI Director, Christopher Asher Wray, at the State House in Abuja.

Security chiefs who attended the meeting include the National Security Adviser, Mallam Nuhu Ribadu; Inspector-General of Police, Kayode Egbetokun; Director-General of the Department of State Services (DSS), Yusuf Magaji Bichi; the Chairman of the National Drug Law Enforcement Agency (NDLEA), Brigadier-General Mohamed Buba Marwa (Rtd); Chief of Defence Intelligence Agency (DIA), Major-General Emmanuel Undiandeye; Chairman of the Economic and Financial Crimes Commission (EFCC), Olanipekun Olukoyede; and the National Coordinator of the National Counter Terrorism Centre (NCTC), Major-General Adamu Laka.

President Tinubu described the presence of the FBI Director alongside his team in Nigeria as a recognition of the enduring partnership between Nigeria and the United States in the fight against financial crimes and terrorism.

”It is an honour for me to receive Director Christopher Wray, the leader of an organization that has demonstrated consistent procedural sophistication and a reputation for excellence over several years. Your visit conveys the importance of Nigeria and Nigerian partnership in the work of America’s law enforcement institutions and vice-versa. For us, it is a recognition of what stage we are at, who we are, and the level of interest both countries share in eliminating crimes locally and globally.

”We cannot achieve this important feat of eliminating crimes without collaboration. Incidentally, as the Chairman of ECOWAS, Nigeria is also collaborating with other West African countries to fight economic and other related crimes,” the President said.

President Tinubu told the FBI Director that his administration has prioritized education as a tool against poverty, which is generally believed to be a driver of criminal activities.

”We are working hard to eliminate terrorism, cybercrimes, sextortion, and I am glad that we have a good number of agencies that are involved in reducing these crimes to the barest minimum, and they are also well represented at this meeting,” the President said.

Noting that no single country can combat financial crimes in isolation, President Tinubu called on the United States to support developing countries with the requisite technology and knowledge transfer required to combat complex international crimes.

In his remarks, Director Wray said he was in the country to enhance the “outstanding partnership” that exists between the government of Nigeria and the government of the United States.

He lauded President Tinubu for supporting the growing partnerships between various agencies of government and the FBI in order to protect the citizens of both countries.

”We appreciate the President’s vision in countering terrorism in the region, which is a dangerous threat, not only to the countries in the region but also to the United States.

”We appreciate your vision in re-engineering the role of the Office of the NSA to effectively coordinate efforts on counter-terrorism, and this has already started to bear fruits in terms of the success you are recording against ISIS in West Africa and other terrorist groups.

”We appreciate your support and collaboration on cyber-enabled crimes and sextortion, which has unfortunately resulted in a few tragic deaths in the United States.

”I want to assure you of our support whether it is on counter-terrorism, cyber-enabled crimes, kidnapping, joint investigations, and intelligence sharing. Our relationship with Nigeria is a very important one,” the FBI Director concluded.”

The FBI is the domestic intelligence and security service of the United States of America, and its principal federal law enforcement agency.

Continue Reading

NEWS

BREAKING: World Bank Grants Nigeria’s Application Of $2.25 Billion Loan

Published

on

World Bank deploys $114.9 to finance global crises in 2022

The Nigerian government, led by President Tinubu, has successfully secured a significant financial boost from the World Bank in the form of a $2.25 billion loan.

This infusion of funds is intended to bolster the country’s foreign exchange reserves and strengthen the overall economy.

Furthermore, a portion of this loan has been specifically allocated for the purpose of providing assistance to those in need, thereby alleviating some of the financial burden on the country’s most vulnerable citizens.

Finance Minister Wale Edun played a key role in securing this vital financial support, which is expected to be instrumental in driving the success of President Tinubu’s economic reform agenda.

With these additional resources, the Nigerian government is better equipped to implement the necessary measures to foster sustainable economic growth and improve the well-being of its citizens.

Continue Reading

NEWS

Nigerian Lawmakers Earn ₦600,000 Monthly, Says Akin Rotimi

Published

on

Akin Rotimi, spokesperson for the House of Representatives in Nigeria’s 10th National Assembly, has disclosed that lawmakers earn a monthly salary of approximately ₦600,000.

Rotimi made this revelation during an interview with TVC, where he offered to provide his payslip as evidence, asserting that the actual figure could even be slightly lower.

This disclosure comes in the wake of widespread criticism regarding the recent decision to increase lawmakers’ salaries amidst severe economic hardship in the country.

Addressing accusations that legislators live lavishly on taxpayers’ money and are disconnected from the struggles of ordinary Nigerians, Rotimi contended that much of the public’s perception is fueled by misinformation and exaggeration.

“The notion that lawmakers live extravagant lives funded by taxpayer money is largely based on fake news and disinformation,” Rotimi argued, emphasizing the need for transparency and truth in discussions about lawmakers’ compensation.

Recall that the House of Representatives had criticized organized labour in Nigeria for spreading false and exaggerated information about lawmakers’ salaries.

In a statement by spokesperson Akin Rotimi, they emphasized that such actions by the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) could harm public trust and the Legislature’s credibility.

The House reaffirmed its commitment to improving working conditions for Nigerian workers and noted the suspension of the labour strike to facilitate ongoing negotiations with the government on a new minimum wage.

Continue Reading

Copyright © 2022. Biztellers, powered by Alphaxristi.