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“NSMIL achieves ISO certification.”

Tosin Ranks
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“NSMIL achieves ISO certification.”

New Star Metal International Limited, located in Lagos and engaged in metal trading and non-ferrous packaging, has successfully achieved the ISO 9001:2015 Quality Management System (QMS) certification from the International Organization for Standardization (ISO).

The official presentation of the ISO Certificate took place in Lagos, with Mrs.

Rabi Idakwo, Head of Technical Review at SON Management System Certification, representing Mallam Farouk Salim, the Director-General of the Standards Organization of Nigeria.

During the event, Alhaji Abdulateef Sulaimon, the Chairman and Chief Executive Officer of New Star Metal International Limited, expressed his appreciation for the officials of SON.

Crisis in Gabon Leads to Steepest Decline in Dollar-Denominated Bonds

Tosin Ranks
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Crisis in Gabon Leads to Steepest Decline in Dollar-Denominated Bonds

Gabon’s military coup triggered the most significant daily decline in its dollar bonds since the peak of the COVID-19 pandemic on Wednesday.

This happened just a few weeks after the nation successfully executed Africa’s inaugural debt-for-nature exchange.

In the early hours of Wednesday, a group of senior military officials in Gabon declared on television that they had assumed control.

This announcement came shortly after the state election commission declared President Ali Bongo as the victor of a third term, as reported by Reuters.

Charlie Robertson, the Head of Macro Strategy at FIM Partners, noted that this drop marked the most substantial fall since the market turmoil of March 2020 caused by the pandemic.

Both 2031 maturities experienced declines of around seven cents.

The primary concern for bondholders currently is the potential imposition of sanctions that could complicate financial transactions involving the country.

This coup, if successful, would be the eighth instance of a military takeover in West and Central Africa since 2020, potentially worsening the already limited access to financial resources for nations on the continent.

With increasing interest rates and significant debt burdens, no African country had introduced a new Eurobond for over a year.

Maja Bovcon, Senior Africa analyst at Verisk Maplecroft, stated that the military intervention would necessitate investors to reevaluate their investment interests in Gabon and the broader political scenario in the region.

Research firm Tellimer cautioned that multilateral and bilateral lenders might modify or suspend concessional lending in response to the coup.

Simultaneously, shares in Gabon-linked oil producers TotalEnergies Gabon and Maurel et Prom plummeted by more than 20 percent at one point.

Recently in August, Gabon concluded a $436 million ‘debt for nature’ swap, converting portions of the 2025 and 2031 Eurobonds into a ‘blue bond’ that matures in 2038.

This blue bond, intended to generate funds for marine conservation, experienced a decline of 1.91 cents to reach 98.34 cents on the dollar.

The US Development Finance Corporation provided political risk insurance for this bond, which could potentially cover full repayment in case of default, subject to arbitration.

However, the specific terms of the insurance were not disclosed during the deal’s execution.

UK-sponsored initiative to provide advantages for Mobihealth

Tosin Ranks
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UK-sponsored initiative to provide advantages for Mobihealth

Nigerian Health technology firm, Mobihealth International, has been chosen as a participant in the Barclays Black Venture Growth programme, a program funded by the UK government.

This initiative has its sights set on identifying and supporting 20 of the most promising scale-ups in technology and innovation sectors within the UK each year.

According to the program’s facilitator, Foundervine, the selected businesses will benefit from personalized business and investment readiness assistance, aimed at propelling their promising ventures to greater heights.

Mobihealth has a dedicated mission to tackle the multifaceted challenges prevalent in the African health sector.

Their comprehensive telehealth solution is designed to grant users in Nigeria access to affordable, high-quality healthcare through their mobile phones, computers, and even walk-in teleclinics.

These teleclinics are strategically established to address critical shortages in healthcare personnel across the continent.

Dr. Funmi Adewara, the CEO of MobiHealth, emphasized the company’s focus on overcoming healthcare accessibility issues in rural areas.

She pointed out that people in these regions often face significant challenges in reaching healthcare services due to factors like distance, limited mobility, and transportation issues.

In response, Mobihealth has deployed solar-powered and Internet-enabled telehealth clinics to rural areas.

Additionally, the company has collaborated with the Bill and Melinda Gates Foundation to extend their services to communities in Nigeria.

Participating in the Barclays Black Venture Growth Accelerator program is expected to further Mobihealth’s strategies within the UK Diaspora market and increase their visibility among potential investors, as highlighted in the statement.

“Tenant detained after allegedly stabbing landlord in Rivers State.”

Tosin Ranks
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0
“Tenant detained after allegedly stabbing landlord in Rivers State.”

A middle-aged man named Patrick Essien has been apprehended by the Rivers State Police Command.

He is accused of stabbing his landlord, Iheanyichukwu America, in Rumuiprikon, located in the Obio/Akpor Local Government Area of the state.

The altercation began when the landlord attempted to intervene and rescue Essien’s wife from him, as she was reportedly being mistreated.

According to Chioma, the landlord’s wife, Essien tried to take his wife inside, but America insisted that she stay in his family’s house for the night.

America moved Essien’s wife out of their house, leading to a later confrontation.

In the middle of the night, Essien attacked the landlord in his attempt to find his wife.

The landlord’s sister, Gladys Bardey, labeled Essien’s actions as an attempted murder and urged that the case be taken to court.

The state Police Public Relations Officer, Grace Iringe-Koko, confirmed the incident and reported that Essien was in custody while America was receiving medical treatment in the hospital.

An ongoing investigation is underway regarding the matter.

NULGE calls upon Tinubu to investigate the diversion of local government allocations.

Tosin Ranks
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NULGE calls upon Tinubu to investigate the diversion of local government allocations.

On Wednesday, the National Union of Local Government Employees (NULGE) urged an investigation into the allocation of funds to local government councils in the country.

The union also expressed concern over the lack of development and infrastructure at the grassroots level.

Hakeem Ambali, the National President of NULGE, conveyed these points during an interview in Abuja.

This follows a petition filed against Ogun State Governor, Dapo Abiodun, by Wale Adedayo, the Chairman of Ijebu East Local Government Area, alleging the diversion of council allocations.

Ambali emphasized that local government autonomy was crucial and appealed for intervention from President Bola Tinubu.

He mentioned that NULGE was awaiting a report on the matter before taking any actions.

He noted that allegations of funds diversion were not new, with many ex-governors facing investigation by the Economic and Financial Crimes Commission (EFCC) based on similar claims.

He proposed the establishment of an oversight committee by the National Assembly to monitor and investigate local government allocations.

Wale Adedayo, who lodged the petition against Governor Abiodun, asserted his commitment to the complaint and denied apologizing to the governor.

Adedayo accused Abiodun of diverting significant sums, including from the Subsidy Reinvestment and Empowerment Programme, and depriving local government chairmen of their rightful funds.

He also highlighted the lack of allocation of the constitutionally mandated 10% of the state’s Internally Generated Revenue to local governments during Abiodun’s tenure.

Despite a viral video showing local government chairmen apologizing to the governor, Adedayo remained resolute in his stance.

He asserted that he hadn’t retracted his statement and affirmed his colleagues’ right to express themselves.

In response, Governor Abiodun’s Chief Press Secretary, Lekan Adeniran, disputed Adedayo’s claims and stated that no funds were diverted from statutory allocations to local governments in the state.

Otunba Segun Showunmi, a member of the Peoples Democratic Party in Ogun State, urged President Bola Tinubu to initiate a probe into the governor’s actions.

Showunmi criticized the viral video of council chairmen prostrating before the governor, considering it an attempt to undermine the constitutionally important role of local governments.

Some residents of Ogun State demanded transparency and accountability, calling for the governor to publish records of fund allocations to the 20 local government areas.

 

They also called on the State House of Assembly’s Public Accounts Committee to investigate the allegations raised by the council chairman.

Nurse and activist Thomas Abiodun highlighted the importance of evidence and urged the governor to provide a statement of accounts detailing how local government allocations were disbursed.

Another resident, Dapo Adeyemi, supported the call for investigation by the EFCC and ICPC, specifically focusing on the state’s accounts from 2021 onward.

He emphasized that the actions of the local government chairmen had not appeased the concerns of the people of Ogun State.

Gabon: International bodies including the UN and Commonwealth denounce coup; Tinubu cautions about its potential spread.

Tosin Ranks
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0
Gabon: International bodies including the UN and Commonwealth denounce coup; Tinubu cautions about its potential spread.

President Bola Tinubu has voiced his concerns about the increasing occurrence of coups in African nations, emphasizing the need for a unified stance against the proliferation of autocratic rule across the continent.

President Tinubu expressed his commitment to collaborating with fellow African leaders to safeguard democracy in Africa.

Tinubu made these remarks in response to the recent coup in Gabon, while international entities including the United States, United Nations, European Union, France, and the Commonwealth also expressed apprehension regarding the political developments in the Central African nation.

This coup in Gabon follows a similar event in Niger a month prior, where the democratically elected President, Mohamed Bazoum, was overthrown by Presidential Guards.

In Gabon, a group of soldiers appeared on national television, annulling election results claimed to be won by the incumbent, Ondimba Ali Bongo, and dissolving all state institutions.

The leader of the mutineers, Gen Brice Nguema, also sealed the country’s borders indefinitely.

President Ali Bongo had secured a third term after being re-elected, continuing his family’s five-decade-long rule over the oil-rich country of 2.3 million people. However, the opposition labeled the election a ‘fraud orchestrated’ by the ruling party.

Tinubu, while addressing the situation in Gabon, expressed his deep concern over the nation’s socio-political stability and the apparent spread of autocracy across different parts of the continent.

In an official statement, Tinubu’s spokesperson highlighted that the President firmly believed in placing power in the hands of Africa’s citizens rather than relying on forceful means.

Tinubu, who is leading ECOWAS’ efforts to address the Niger coup, assured his commitment to resolving the political crisis in Gabon through communication and cooperation with other African leaders.

The President’s interactions with Canadian Prime Minister Justin Trudeau centered on the crisis in Niger and the evolving situation in Gabon. Both leaders underlined the importance of upholding democratic values across the continent.

Notably, the US, EU, UN, and other entities expressed their concerns over the coup in Gabon, highlighting the significance of respecting democratic principles and constitutional governance.

The head of the African Union Commission, Moussa Mahamat, joined in condemning the coup and urged the security forces to peacefully restore democratic order.

The situation in Gabon drew the attention of various nations and international organizations, each emphasizing the importance of democratic stability and peaceful resolution.

 

 

“I am employed by Tinubu, not affiliated with the APC,” clarifies Wike.

Tosin Ranks
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0
“I am employed by Tinubu, not affiliated with the APC,” clarifies Wike.

The Minister of Federal Capital Territory, Nyesom Wike, clarified on Wednesday that he is supporting President Bola Tinubu rather than the All Progressives Congress.

During an appearance on Channels TV Politics Today, Wike stated, “I am not aligned with APC.

I am aligned with Tinubu, who has faith in me to assist in delivering a renewed sense of hope.” He further mentioned, “I have no need to apologize to anyone.

I was a part of PDP and actively contributed to Ahmed Bola Tinubu’s presidential campaign.”

Controversy arose over Wike’s reported membership in the APC when his name appeared on the party’s campaign council for governorship elections in Bayelsa, Imo, and Kogi states on November 11.

The party denied the authenticity of the documents containing the campaign council members’ names, which had circulated in the media and online platforms.

The APC’s National Publicity Secretary, Felix Morka, clarified that the lists were not official party documents.

Wike’s inclusion in the documents, disclosed through the ruling party’s National Organizing Secretary, Suleiman Arugungu, led to heated debates, particularly within the opposition Peoples Democratic Party.

Despite this, Wike asserted on Wednesday night that he remains a member of the main opposition party.

He emphasized that he doesn’t feel the need to apologize for supporting Tinubu during the February 25 presidential election.

In response to concerns about potential disciplinary actions from his party, Wike expressed confidence, stating, “Who is the party? Who are they?

With all due respect, I have not encountered anyone who could suspend me. No one will do it.

Who would dare discipline me? I should be the one seeking disciplinary measures against those who violated the party’s constitution.

Who could claim they will suspend me? Who is that person?”

Brain drain: Nigerian doctors are being enticed with offers of $4000 from African countries, as disclosed by CMDs in a discussion with Representatives.

Tosin Ranks
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0
Brain drain: Nigerian doctors are being enticed with offers of $4000 from African countries, as disclosed by CMDs in a discussion with Representatives.

Prof. Emem Bassey, the Chairman of the Committee of Chief Medical Directors of Federal Tertiary Hospitals, revealed on Wednesday that Nigerian medical doctors and healthcare professionals are being lured away by other African nations.

Countries like Sierra Leone and Gambia are enticing these professionals with offers ranging from $3000 to $4000, which is significantly higher than their earnings in Nigeria.

During his testimony before the House of Representatives Ad hoc Committee investigating employment irregularities in Federal Government agencies, Prof. Bassey, who is also the CMD of the University of Uyo Teaching Hospital, emphasized the critical shortage of healthcare manpower in the nation.

He noted a mass exodus of specialists, including doctors, nurses, laboratory scientists, physiotherapists, radiographers, and others, leaving the country for better opportunities abroad.

The departure of these professionals is posing a substantial challenge in terms of replacements.

Despite receiving approval to recruit, the convoluted process of obtaining waivers hampers the effective replenishment of these health workers.

Prof. Bassey also highlighted the issue of strikes within the healthcare sector.

He pointed out that past governments had made unfeasible agreements to end strikes quickly, leading to agreements that could not be implemented.

This cycle of unmet promises eventually results in strikes that further deteriorate the healthcare system.

Hon. Yusuf Gagdi, Chairman of the Ad hoc Committee, urged medical professionals to exhibit patriotism and contribute to their home country’s development.

Gagdi acknowledged the lack of advanced medical facilities in Nigeria but stressed the importance of giving back to the nation that nurtured their education.

He encouraged doctors to serve their homeland despite the allure of opportunities abroad.

Gagdi assured the medical community that the committee would review their concerns meticulously and provide recommendations to address the imbalance between adhering to federal character principles and filling urgent healthcare vacancies.

He emphasized that the government is committed to implementing beneficial changes based on the committee’s findings.

In essence, Prof. Bassey’s testimony shed light on the distressing trend of healthcare professionals leaving Nigeria due to attractive offers from other African countries.

This departure compounds the existing shortage of medical specialists and poses challenges in recruitment and workforce management.

The committee’s investigation aims to strike a balance between fulfilling federal character requirements and addressing the pressing need for healthcare professionals in Nigeria.

Monaco completes a £34 million deal to acquire Balogun from Arsenal.

Tosin Ranks
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0
Monaco completes a £34 million deal to acquire Balogun from Arsenal.

Monaco in Ligue 1 has welcomed Folarin Balogun, the talented Arsenal striker, following an impressive stint at Stade de Reims, during which he netted 22 goals.

The young prodigy has committed to a five-year tenure with the French club.

Arsenal’s coffers will be enriched by €40m (£34.4m) as part of Balogun’s move to Monaco, and a stipulation of a 17.5% share in any future sale has been included in the arrangement.

Having been part of Arsenal since the age of 10, Balogun didn’t manage to secure any competitive playtime with the Gunners this season, having returned from his loan experience with Reims.

Balogun faced an uphill battle for a starting role in Arsenal’s forward lineup, given the presence of eminent figures like Gabriel Jesus, Eddie Nketiah, Kai Havertz, and Leandro Trossard, who were ahead of him in the selection hierarchy.

“Biography of Ali Bongo, Former President of Gabon, Who was Removed from Office”

Tosin Ranks
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0
“Biography of Ali Bongo, Former President of Gabon, Who was Removed from Office”

Gabon’s President, Ali Bongo, was deposed by military officials on Wednesday, following a statement from the officers of the Committee for the Transition and Restoration of Institutions.

The coup was attributed to severe institutional, political, economic, and social crises.

This comes shortly after an unresolved coup in Niger Republic.

The African continent has seen 214 attempted coups since 1950, with 106 succeeding.

The Gabonese officers invalidated the recent elections in which Ali Bongo was declared the winner, aiming to restore peace.

Ali Bongo, born Alain Bernard Bongo on February 9, 1959, in Congo-Brazzaville, studied law at the Sorbonne.

He received an Honorary Doctorate of Law from Wuhan University in 2018.

He is the son of former president Omar Bongo, who ruled Gabon for 42 years until his death in 2009.

Bongo converted to Islam and adopted the name ‘Ali.

He held various positions under his father’s administration, including Minister of Foreign Affairs, Deputy in the National Assembly, and Minister of Defence.

Ali Bongo became Gabon’s President in 2009 and won re-election in 2016 amid allegations of irregularities and human rights violations.

His bid for a third term was thwarted by the military’s takeover in 2023, ending his 14-year rule.

Apart from politics, Bongo is a music enthusiast and released a funk album titled ‘A Brand New Man’ in 1977.

He is married to Sylvia Valentin, with whom he has four children.

Bongo initiated government streamlining efforts in 2009 by reducing corruption and eliminating 17 minister-level positions and the vice presidency.

He faced health challenges, suffering a stroke during an official trip to Riyadh in 2018 and reappearing in August 2019 after a 10-month absence from public duties.

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