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Peter Obi detained in London

London, April 12, 2023 – Presidential candidate of Labour Party (LP), Mr Peter Obi was last Friday, allegedly detained in London by UK immigration officials. Obi was said to have been detained for hours, and interrogated by the officials, after his British Airways plane landed in Heathrow Airport on Friday morning. Prof Chinyere Okunna, a famous Mass Communications scholar, and Deputy Vice Chancellor of Paul University Awka, who is also a confidant of Obi, revealed this on Wednesday morning. Okunna, who worked with Obi as commissioner for information, commissioner for …

Foreign Lifestyle

Headmistress guilty of sexually abusing sisters in Australian school

Melbourne (Australia), April 4, 2023 – A former headmistress was found guilty on Monday of sexually assaulting two sisters at an ultra-orthodox Jewish school in Australia, 15 years after she escaped arrest by fleeing to Israel. Malka Leifer was guilty on 18 charges, the jury said, including raping a student during a sleep-over and sexually assaulting another teenage pupil during a school camp. She was cleared of a further nine charges. Leifer was the principal of the Adass Israel School in Melbourne when she was first accused of sexual assault …

Foreign Lifestyle

Goodluck Jonathan receives African Democracy award

Kigali (Rwanda), April 4, 2023 – Former Nigerian President Goodluck Jonathan, has received the African Democracy and Peace Icon Award in Rwanda. Jonathan and some other African leaders were honoured at the maiden edition of the African Heritage Concert and Awards held in Kigali, Rwanda on Saturday, April 1. The Nigerian High Commissioner to Rwanda, Ambassador Suleiman San, was present at the event. A press release on Monday by the organisers, Heritage Times, said the event was held to celebrate and honour African greats who had distinguished themselves in their …

Foreign

U.S. increases nonimmigrant visa application fees

Abuja, March 30, 2023 – The United States Department of State has announced 15 per cent hike in fees for certain nonimmigrant visa applications, including travel visas. It said the fee for B-1/B-2 visitor visas, Border Crossing Cards for Mexican citizens aged 15 and above, and student and exchange visitor visas will increase from $160 to $185. Also, the fees for certain nonimmigrant visas for temporary workers (H, L, O, P, Q, and R categories) will increase from $190 to $205. The fee for treaty trader, treaty investor, and treaty …

Foreign Investment

Afreximbank collaborates with Islamic Trade Finance Corp on trade finance

Cairo, March 22 2023 – African Export-Import Bank (Afreximbank) is to collaborate with International Islamic Trade Finance Corporation (ITFC) in a risk participation facility designed to enhance Afreximbank’s ability to support trade finance in Africa. Under the arrangement, Afreximbank will act as a confirming bank or trade confirmation guarantor on behalf of the approved financial institutions in Africa and provide these services in favour of beneficiary or international banks. ITFC will act as the issuer of irrevocable reimbursement undertakings to cover up to 50 per cent of Afreximbank’s risk exposure on …

Business Planning Foreign

AfCFTA, Afreximbank sign agreement on AfCFTA fund

Kigali (Rwanda), March 14, 2023 -The AfCFTA Secretariat and African Export-Import Bank (Afreximbank) have signed the Host Country Agreement for the AfCFTA Adjustment Fund with the Republic of Rwanda. The agreement, signed by H.E. Wamkele Mene, Secretary-General of the AfCFTA Secretariat; Mrs Kanayo Awani, Executive Vice President, Intra-African Trade Bank at Afreximbank; and Dr Vincent Biruta, Minister of Foreign Affairs, and International Cooperation of the Republic of Rwanda, is to pave way for the operationalisation of the AfCFTA Adjustment Fund. The US$10 billion Fund, headquartered in Kigali, Rwanda, is a critical …

Foreign Money market

SVB is largest failure since 2008 crisis, billions stranded

By David French and Alun John Lagos, March 11, 2023 (Reuters/GBN) – Startup-focused lender SVB Financial Group became the largest bank to fail since the 2008 financial crisis on Friday in a sudden collapse that roiled global markets, left billions of dollars belonging to companies and investors stranded. California banking regulators closed the bank, which did business as Silicon Valley Bank, on Friday and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for later disposition of its assets. Based in Santa Clara, the lender was ranked as the 16th biggest in …

Foreign

Afreximbank celebrates adoption of factoring law in Mali

  Bamako (Mali), Feb. 27, 2023 – The African Export-Import Bank (Afreximbank) says it is celebrating the adoption and enactment of a factoring law in the Republic of Mali.   Afreximbank’s Factoring Model Law was used as a guide for the development of La Banque des États de l’Afrique de l’Ouest (BCEAO’s) factoring law, which the Republic of Mali has adopted.   The bank said this conformed to the Bank’s factoring strategy which aimed to provide legal and regulatory support to African countries in their pursuit of factoring as an alternative …

Foreign

UN calls on Russia to withdraw troops from Ukraine

Lagos, Feb. 24, 2023 – Nigeria and 140 member states of the United Nations on Thursday demanded Russia to immediately and unconditionally withdraw its troops from Ukraine, marking the first anniversary of the war with a call for a “just and lasting” peace. Ukraine got strong backing in a non-binding vote that saw 141 of the 193 UN members in support, including Nigeria. Seven members opposed, and 32, including China and India, abstained at the UN General Assembly emergency special session aimed at restoring peace. Coming on the eve of …

Foreign Politics

ECOWAS rejects joint request to lift sanctions on Mali, Guinea & Burkina Faso

By Paul Ejime Leaders of the Economic Community of West African States (ECOWAS) have rejected a joint request by Mali, Guinea and Burkina Faso to lift sanctions imposed on them and their suspension of membership following military takeover of governments in the three countries. “The Authority of Heads of State and Government decided to maintain the existing sanctions on all three countries, and to impose travel ban on members of government and other senior officials on all three countries,” said a Communique, following a summit of the regional bloc on …