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Sanwo-Olu, Fashola, others chart new course for youths at first Lagos Leadership Summit

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The first Lagos Leadership Summit, held Wednesday, ignited new passion and zeal towards charting a new course of action for the country’s future. The event, organised by Lateef Jakande Leadership Academy (LJLA), presented an opportunity for inclusive interaction between old and new generations.

Debates, speeches and panels delved into topics that challenged the mental, emotional and physical preparation of the youth to take up leadership roles. Discussants evaluated how young people currently in leadership positions had inspired impactful changes.

 

The event, with the theme: “Leadership and Nigeria’s Future”, held at Konga Place in Lekki, was graced by a large physical and virtual audience, indicating the interest of the youth in the conversation.

 

Governor Babajide Sanwo-Olu shared his personal leadership engagement story with the participants, recalling how, at 37, he was appointed into Lagos State cabinet as Special Adviser with only private sector experience.

 

The Governor said his appointment into public service offered him the opportunity to learn multidimensional leadership and build problem-solving capacity, which, he added, prepared him for bigger tasks in the course of his public career.

 

Sanwo-Olu said the summit was initiated with the objective to create an engaging platform for young people to channel their energy, knowledge and creativity to actions that would project their leadership skills.

He said: “We believe young people are leaders not only for tomorrow, but today. This idea gave birth to Lateef Jakande Leadership Academy through which we provide opportunities for young leaders to learn, innovate and develop skills that will enable them hone their leadership skills.

 

“For us, it is not about the contemporary challenges that we face; it is about the innovative ideas and solutions that we will bring about in solving the problems. That is why we all gather here to make you think out of the box, innovate and unleash your leadership potential.

 

“The quality of output from the Academy has not only shown us that we took the right step, the feedback has been outstanding and we are prepared to create more platforms for robust youth engagement. The country is banking its future on the youth. Character is critical; young people must have the competence and vision to make the changes you want to see.”

 

Former Minister for Works and Housing, Mr. Babatunde Raji Fashola, during a discussion titled: “Ethical Leadership and its Impact on Nation Building”, lent his voice to the notion that young people must go through the rudimentary process of leadership before being entrusted with responsibilities.

 

The former Lagos Governor also said the notion that “the end justifies the means” could no longer be a standard practice in governance, stressing that the leader must do the right thing even if the consequence won’t go down well with the population.

 

He said: “Days of the end justifies the means can no longer be the gold standard for governance any more. The process must be as important as the result. I subscribe to enjoyment after adversity because I have had introspection on every sustainable success story we have had, not one of them had not been built on the foundation of adversity.

 

“Therefore, if the utilitarian value of any policy, project or programme being pursued by the government serves the greatest good to the greatest number of people, then the leadership must go for it regardless of the consequences. In years to come, many people would look back and say it was better that we did it the way it was done.”

 

The Deputy Governor, Dr. Obafemi Hamzat, shared perspectives on “Leadership and Community Engagement: Strengthening the social Fabric of Nigeria” during a session moderated by the Special Adviser to the Governor on Legal Matters and Public Private Partnership (PPP), Mrs. Bukola Odoe.

Actors don’t want to work for producers anymore” – Filmmaker Chinney Love concurs with Kanayo Kanayo as she speaks on the toxicity in Nollywood

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Nigerian filmmaker, Chinney Love has shared her two cents on the movie industry as she concurs with veteran actor, Kanayo Kanayo.

 

The Nollywood practitioner had called out Nollywood filmmakers who run to the steaming giant platform, YouTube, for ruining the foundation of the movie industry by creating low-quality content.

 

The veteran also spoke against those who were not learned enough in making films but went ahead and created the money-making video channel and then go on to abandon their colleagues. Admonishing them to work with each other, he warned against the durability of the YouTube platform.

 

Concurring with him, Chinney noted how when she joined YouTube, there was so much love and everyone was concerned about individual growth. But now, the space has become so toxic hence why she took a break from the platform to focus and heal.

 

She noted how actors don’t want to act for producers anymore as everyone is now operating like a one-man army forgetting that the movie industry is highly spiritual and they all need each other.

 

“Listening to Uncle KOK’s video he won’t have put it any better. When I hear about the things happening now, especially in the YouTube space I just shake my head for the industry. No be so we take start this YouTube business oo

Israel-Iran conflict triggers Bitcoin to temporary dip below $60,000

Bitcoin experienced a temporary dip below $60,000 on Friday morning after news broke that Israel had launched retaliatory missile strikes against Iran in response to the former aggression exhibited by Iran when it fired missiles toward Israel as tension increased between both countries.

 

According to BeinCrypto, a senior US official confirmed Israel’s strikes, which led to Bitcoin temporarily dropping below $60,000 in price value.

 

Israel responded to Iran’s past aggression last Saturday when it reportedly launched over 300 drones and missiles towards Israel. Israel however stated that the majority of the missiles were intercepted by Israel and its allies including the United States.

 

The recent developments in the Israel-Iran conflict caused a momentary dip in the value of Bitcoin (BTC), dropping to $60,000. However, at the time of writing, Bitcoin has rebounded and is now valued at $64,812.

 

Ethereum, the second largest cryptocurrency also experienced a similar dip in price value due to the tensions in the Middle East. The Altcoin dipped to as low as $2,876 but has now rebounded to $3,101 as of the time of writing this report.

Additionally, according to data from Coinglass, the total crypto liquidation amount within the last hour is a modest $49.35 million, primarily stemming from long positions. However, in the past 24 hours, more than $250 million has been liquidated.

 

The Israel-Iran face-off is the first time the two Middle Eastern countries would be directly having a conflict for a long time besides using proxies.

 

Jonathan de Wet, chief investment officer at digital asset trading firm Zerocap has said that a worsening situation in the Middle East could see Bitcoin Prices drop to as low as $58,000.

What to know

The tensions in the Middle East affect the price of cryptocurrencies due to the selling pressure that comes with it. As tension and uncertainty rage in the Middle East global investors are forced to lean towards traditional safe-haven assets like bonds, Gold, and the US dollar while shifting away from riskier investment vehicles like cryptocurrencies.

The selling pressure that comes with investors all wanting to share their crypto assets usually leads to a drop in price value for crypto assets.

The Iranian government in Tehran has played down the reported Israeli retaliatory attacks saying that there are no plans for retaliation.

 

World Bank Group to provide health services to 1.5 billion prople by 2030

The World Bank Group has announced an initiative aimed at ensuring that quality and affordable health services reach no fewer than 1.5 billion people by 2030.

 

This initiative is part of a larger global endeavor targeted at guaranteeing a basic standard of care across all stages of life, from infancy through adulthood.

 

With a rich history of supporting health services for women and children across more than 100 countries, the World Bank Group is now accelerating its efforts to achieve greater scale and impact through enhanced collaboration with partners and increased engagement with the private sector.

 

Recommended reading: World bank, AfDB eye $30 billion for electricity provision to 300 million Africans

The World Bank Group’s strategy

The strategy to reach 1.5 billion people revolves around three key pillars:

 

Expanded Coverage: Shifting focus from maternal and child health to encompassing health coverage throughout an individual’s entire lifespan, including addressing non-communicable diseases.

Accessibility in Remote Areas: Extending operations to reach remote and underserved regions, spanning from isolated villages to bustling urban centers and entire countries.

Financial inclusion: Working alongside governments to eliminate unnecessary fees and financial barriers to accessing healthcare services, thereby ensuring affordability for all.

Ajay Banga, President of the World Bank Group, emphasized the collaborative nature of the endeavor, highlighting the essential role of partnerships between the public and private sectors in expanding access to healthcare services.

What you should know

Despite significant progress in global health, around 2 billion people continue to face substantial financial burdens when seeking medical care.

 

Compounded by challenges such as climate change, pandemics, conflicts, societal aging, and projected shortages of healthcare workers, these obstacles perpetuate cycles of poverty and inequality.

To address these complex challenges, the World Bank Group will leverage its financing capabilities, knowledge resources, and strategic partnerships.

Tailored financing mechanisms, including International Development Association (IDA) financing for the most vulnerable countries and International Bank for Reconstruction and Development (IBRD) financing for middle-income nations. These will be deployed based on each country’s specific needs and developmental stage.

Moreover, fostering regulatory certainty and strengthening governance is expected to attract private sector investments, particularly in local production of essential medications and protective equipment.

Recognizing the indispensable role of partnerships, the World Bank Group said it is committed to collaborating closely with non-governmental organizations, the private sector, and civil society to accelerate progress towards universal health coverage.

 

Recommended reading: Rising inflation, weak earnings push 10 million Nigerians into poverty in 2023 – World Bank

Zimbabwe’s illegal forex traders resume operation after launch of new currency

Zimbabwe’s illegal money changers are back on the streets after a brief hiatus following the launch of a new gold-backed currency in the country. The newly launched gold-backed currency is known as the Zimbabwe Gold (ZIG).

 

According to the East African, the new gold-backed currency is not yet physically available as the new notes and coins are still under production but the money changers are offering the currency electronically.

 

The money changers are offering slightly higher rates than the official exchange rate, which stands at $1 to 13.3437 ZiG according to ZB Financial Holdings,

 

The black market was however offering about 15 ZiG (buy rate) and around 20 ZiG (sell rate) to the US dollar, according to money changers.

 

A money changer conducting his business at the Westgate Shopping Mall northwest of Harare, Zimbabwe’s capital, said that he and his colleagues were always on the lookout for the police.

 

“Our selling rate is $1 to 20 or 21 ZiG depending on the amount transacted, and our buying rate is between 15 and 16 ZiG to the U.S. dollar, also depending on the amount transacted. Those disposing of higher amounts get more favorable rates,” he said.

The move to introduce Zimbabwe’s sixth currency since its independence was met with skepticism by the Zimbabwean people while some agreed it was a good move to salvage the inflation-battered Zimbabwean dollars and improve the economy of the country.

 

The ZiG started trading on April 8 at an exchange rate of 13.56 to the US dollar as the Reserve Bank of Zimbabwe (RBZ) sought to battle the high demand for US dollars as a store of value and instill lost confidence in the country’s new local currency.

 

The new gold-backed Zimbabwean currency was introduced as the Zimbabwe market was swaying into full dollarization as over 80% of transactions were conducted with the US dollar which continues to dominate the inflation-battered Zimbabwean dollars.

 

The Zimbabwean government has long issued warnings that it will deal with illegal money changers as it seeks to protect the new currency.

 

What to know

Zimbabwean economic experts remain optimistic about the success of the new gold-backed currency in the country’s economy. they cited the need to eschew individual interest and think only about using the new currency to fix the country’s economy.

Zimbabwe has changed its currency six times since its independence as it seeks to battle hyperinflation which has seriously depleted the value of its local currencies. The New gold-backed currency attempt is the latest trial.

 

NAFDAC conducts a raid on Sahad stores, H-Medix, and other establishments in Abuja, seizing fake cosmetics and drugs

In Abuja on Thursday, the National Agency for Food and Drug Administration and Control (NAFDAC) conducted a raid at Sahad Stores, a well-known supermarket, for the sale of counterfeit products.

 

The authorities conducted simultaneous raids at H-Medix outlets in Wuse 2 and Gwarinpa, 3rd Avenue, along with the Utako market in the FCT. Counterfeit cosmetics were uncovered and confiscated during the operation at H-Medix, while fake medications were seized at the Utako market.

 

Embugushiki-Musa Godiya, the NAFDAC Head of Investigation and Enforcement/Federal Taskforce, FCT, Abuja, mentioned that the enforcement team also conducted operations at Kugbo market in Nyanya and the Mararaba area in Nasarawa State on Tuesday.

 

He informed the press that the team also conducted a raid at Wuse Market on Wednesday, seizing goods valued at millions. Godiya mentioned that the three-day operation was conducted following valuable intelligence gathered by the agency from concerned Nigerians.

 

“We have been able to successfully recover some of the counterfeit products, evacuate them for destruction. Our concern is one of the products, purported to be NIVEA NAFDAC regulated product, but it is not.

 

“The most shocking to me is that such substandard NIVEA cream and other cosmetics are even more expensive than the ones approved by NAFDAC, this is criminal.

 

“The market value of what we have seen so far for drug hawking is N5 million, and for the NIVEA products, other cosmetics and other products including Jik bleach, Harpic toilet cleaner and Airwick room freshner, all counterfeit in large quantity, valued at N45 million.

 

“The total value of all the goods seized during the operation is N50 million”

Bobrisky didn’t commit capital offence, still in Ikoyi prison – Officials

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The Nigeria Correctional Service has refuted claims that controversial cross-dresser, Idris Okuneye aka Bobrisky, who was handed a six-month prison sentence over abuse of the naira notes, was moved from the Ikoyi custodial centre to its other facility in Kirikiri, Lagos State.

 

Bobrisky was reported to have been discreetly transferred to Kirikiri Prison last weekend where he was expected to complete his term.

 

An NCoS official however told PUNCH Metro on Thursday that he was still held in the Ikoyi prison.

 

The official who pleaded anonymity as he was not permitted to speak on the matter, said the convict did not commit a capital offence to warrant his transfer to a maximum prison where inmates serving life and death sentences were mostly kept.

 

“Bobrisky has not been moved, he is still here in Ikoyi. He was not sentenced to death and didn’t get a life sentence either. Those people sentenced to death and given life sentences are mostly kept in the maximum prison. That is mostly based on capital punishment. As for Bobrisky, he didn’t commit a capital offence, so why would they take him to Kirikiri,” the source said.

 

Another official who also preferred not to be mentioned as he was not in the official capacity to speak to the press, said that although there were plans to move some inmates across the custodial centres in the state, it was still being proposed.

 

The NCoS official added that the move was for decongestion.

 

“Sometimes, when we discover that the population of inmates is much in a facility, we decide to move them just to decongest. We are only considering that at the moment and not that anyone has been moved. If the prison authorities want to move, they have the right. We also do so if the person has a communicable disease or because the inmate requested it for proximity to the family or an appeal on humanitarian grounds.

 

“The leadership might also say, ‘Let’s spread those who have less than one year sentence’, which may apply to Bobrisky, just to create space for those awaiting trial. But such people rarely go to the maximum prison,” the source disclosed.

 

Calls made to the spokesperson for the Lagos State Command of the NCS, Rotimi Oladokun, went unanswered. A text message sent to him had yet to be responded to as of the time this report was filed.

 

PUNCH Metro reported that the crossdresser shares the same cell with male inmates and was examined at the point of admission while the outcome of the examination revealed that he had no realignment of gender or genital organs.

 

An official source who disclosed this to our correspondent added that the convicted crossdresser had been observing the rules and procedures obtained in the facility.

 

Bobrisky was arrested and detained by the Economic and Financial Crimes Commission on Wednesday, April 3, 2024. According to the commission, Bobrisky was invited due to a video report of spraying new naira notes at the premiere of Eniola Ajao’s movie titled, ‘Ajakaju’, which was held at FilmOne Circle Mall, Lekki, Lagos, on March 24, 2024.

 

He was convicted by a Federal High Court sitting in Lagos on Friday, April 5, 2024, after pleading guilty to the charges of naira abuse levelled against him by the Economic and Financial Crimes Commission.

 

The EFCC filed six counts against him, with the first four counts related to naira abuse, and the last two counts concerning alleged money laundering.

 

Before reading the charges, the EFCC prosecutor requested the court to dismiss counts five and six.

 

Bobrisky pleaded guilty to the four counts of naira abuse. Before his conviction, he asked to be pardoned, adding that he was not aware of the laws binding the naira abuse and vowed to educate his fans on social media about it.

X Accounts Involved In Engagement Farming Risk Suspension, Elon Musk Warns

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The Chief Executive Officer of X, formerly Twitter, Elon Musk, has warned that any account involved in engagement farming on the social media platform will face suspension.

Engagement farming is said to refer to practices done in order to get more interaction metrics on social media without adding any specific value.

 

Musk made this announcement in a tweet on his X handle on Friday.

 

He wrote, “Any accounts doing engagement farming will be suspended and traced to source.”

 

PUNCH Online reported in March that Musk said he may remove visible engagement metrics such as likes and reposts from posts on the X platform.

 

In July 2023, he also set temporary limits on the social media platform to address extreme levels of data scraping and system manipulation.

 

Credit: X|elonmusk

Heritage Bank’s Head Office Shut Down Over Sack Of Over 1,000 

The National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE), has shut down Heritage Bank’s head office in Lagos following the sack of over 1000 personnel by the management of lender led by Mr. Akinola George-Taylor without following due process, THE WITNESS reports.

 

The union said it had resolved to continue with the picketing until the management of the bank decides to do the needful by ensuring the sacked workers get their legitimate severance package.

 

The aggrieved ex-staff of the bank have locked the gate and prevented anyone from going in or out of the bank’s head office located at 143 Ahmadu Bello Way, Victoria Island, Lagos.

 

Recall, THE WITNESS had exclusively reported in October 2023 that in less than one year after assuming office as Heritage Bank’s chief executive officer, Mr. Akinola George-Taylor forcefully booted out over 70 senior staff members of the bank, while a number of others were asked to resign plunging the bank in further crisis. More worrisome was the fact that the affected staff were disengaged without paying them their accrued entitlements and allowances.

 

THE WITNESS had also reported that the internal crisis allegedly instigated by the bank chief was in an attempt to rid the bank of those suspected to be loyalists of some board members, and employ his own people. The move, sources disclosed, were unconnected with the new bank chief’s plan to oust some board members who are said to be at loggerheads with him, from the bank. The bank’s chief was said to be enjoying the support of a top shareholder of the bank whom sources say is allegedly determined to solely take over the bank and get rid of the owners.

 

When contacted by our reporter, Ozenna Utulu, the head of Corporate Communications of Heritage Bank promised to get back to our reporter but never did as at the time of filing this report.

Toe Decency Path, Submit Yourself For Probe, Federal Gov’t Tells Ex-Kogi Gov Bello

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The Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, has called on the immediate-past governor of Kogi State, Alhaji Yahaya Bello, to follow the path of decency and submit himself for probe.

 

Bello is being wanted by the Economic and Financial Crimes Commission (EFCC) over alleged corrupt practices while in office as governor of Kogi State.

 

LEADERSHIP reports that in the last 24 hours, there have been dramas and hide and seek game between both parties over the move to arrest the former governor for arraignment this Thursday.

 

According to the AGF, in a statement he personally signed on Thursday, EFCC is empowered by law to invite any Nigerian for interrogation.

 

He also described the action of the incumbent governor of Kogi State, Ahmed Ododo, who used his immunity to prevent Bello’s arrest on Wednesday as ‘disquieting’, adding that embarking on a temporising self-help and escapism that can only put Nigeria in bad light before the rest of the world is not the way to go.

 

According to him, he stands for the rule of law and will ensure no right of any Nigerian is trampled upon.

 

The AGF said in the terse statement: “The bizarre drama confronting the Economic and Financial Crimes Commission (EFCC) in the course of its efforts to perform its statutory duty has come to my notice (Attorney General of the Federation and Minister of Justice) as a matter of very grave concern.

 

“It is now beyond doubt that the EFCC is given power by the law to invite any person of interest to interact with them in the course of their investigation into any matter regardless of status. Therefore, the least that we can all do when invited, is not to put any obstruction in the way of EFCC but to honourably answer their invitation.

 

“A situation where public officials who are themselves subject of protection by law enforcement agents will set up a stratagem of obstruction to the civil and commendable efforts of the EFCC to perform its duty is to say the least, insufferably disquieting. A flight

from the law does not resolve issues at stake but only exacerbates it.