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Emerging Africa to raise N250bn capital for infrastructure development in Northern Nigeria

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Emerging Africa to raise N250bn capital for infrastructure development in Northern Nigeria

Emerging Africa to raise N250bn capital for infrastructure development in Northern Nigeria

By: Michael Mike

African investment banking franchise, Emerging Africa Group (EAG) said it will be raising a minimum of N250 billion capital to finance infrastructure development and Micro, Small and Medium Enterprises (MSMEs) in Northern Nigeria in the next two years.

The Executive Vice Chair of the Company, Mrs. Oluwatoyin Sanni disclosed this at the Opening of the new Abuja Office Complex of EAG which will oversee the operation of the investment bank in the entire Northern Nigeria.

Sanni said the North requires huge financing especially in infrastructure in order to speed up development in the region. 

She said: “There can’t be development or growth without adequate infrastructure, so what we aim to do is to help them raise funds (North) for infrastructure development.  As we speak, we have gone on four different exercises to raise funds for road development in Niger state.”

Also Read: CIVIL PARAMILITARY RELATIONSHIP: NSCDC GIVES FREE MEDICAL…

She added that: “So first of all, we offer Northern states opportunity to raise funds from the capital market, by private bonds and notes for all their different infrastructure needs. We are also involved in raising funds for some state-backed initiatives. We also provide Micro and SME finance for these small businesses that ordinarily struggle to raise capital and we have many of them both in the North and the rest of Nigeria and Africa.”

Sanni disclosed that Emerging Africa had set out a target to raise up to $1 billion over a five-year period for businesses in Nigeria and the rest of Africa when it started business, but said the company successfully met the target three and half years into the plan.

The Executive vice Chair said this encourage the Group to set a fresh target to raise $4 billion over the next five years for businesses in Africa. 

On how the Group raises capital, she explained, “When we target to raise this capital, what we do is that we match-make between the surplus segment of the economy and the deficit segment.  We look for partners, local banks, international banks, and development finance institutions, similar investment banks like us, institutional investors and wealthy families.  We crowd them all in, to invest in segments and sectors that we think can have a catalytic effect for the development of the economy.”

On the infrastructure funding for development of roads in Niger state,  Sanni said the Group did a final signing ceremony for a private bond that it raised, to the tune of N13.2 billion.   

She disclosed that the funding was raised for a private infrastructure funding company that would then deploy the money to the development of projects within the state.  

She said: “That way we bring private sector accountability, private sector transparency and unique funding structure. Niger state is a partner and a beneficiary to that funding.” 

The Executive Vice Chairman said the Group decided to open a more befitting office in Abuja to provide investment management, wealth management, trust services, capacity building, financial technology solutions to develop Abuja and the entire North.

She said: “We are bringing funding access, investment management capability, recent technical skills; we are bringing transparency and quality investment management services to Abuja and to the entire North.”

Emerging Africa to raise N250bn capital for infrastructure development in Northern Nigeria

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Nana Shettima at 50: Happy Golden Anniversary to the woman standing tall on this side of life with VP Kashim Shettima.

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Nana Shettima at 50: Happy Golden Anniversary to the woman standing tall on this side of life with VP Kashim Shettima.

By: Dr. James BWALA

Nana Shettima’s 50th birthday marks a significant milestone, celebrating not only her personal achievements but also her role as a steadfast partner to Vice President Kashim Shettima. As the Vice Chairman of the Renewed Hope Initiative, Nana Shettima has demonstrated unwavering commitment to grassroots development and social welfare, exemplified by her recent visit to Calabar, where she distributed food items to vulnerable communities. Her efforts reflect a profound dedication to humanitarian causes, reinforcing her stature as a respected public figure.

Beyond philanthropy, Nana Shettima embodies resilience and grace in navigating the complexities of public life alongside Nigeria’s vice president. The celebration of her golden anniversary with VP Kashim Shettima underscores their partnership both in private and public spheres. This milestone is a testament to her enduring influence and the vital role she plays on “this side of life,” standing tall amidst challenges while inspiring many through service and leadership. 

Her journey to this day is a beacon of hope, illustrating how steadfast dedication to community upliftment can forge pathways for sustainable change and empowerment. Her unwavering dedication to societal betterment has not only enriched countless lives but also set a benchmark for compassionate leadership in the nation. Her leadership style, defined by empathy and inclusivity, continues to inspire a new generation of women leaders who aspire to effect meaningful change within their communities. Her influence extends beyond national borders, where her advocacy for women’s empowerment and education resonates on international platforms, further solidifying her legacy as a transformative leader. 

READ ALSO: https://newsng.ng/nigeria-buharis-death-has-thrown-the-adc-coalition-into-chaos-as-plans-to-ride-the-former-presidents-political-fortunes-against-tinubu-and-shettima-in-2027-collapsed/

Nana Shettima’s tireless advocacy for gender equality and her strategic initiatives in educational development underscore the profound impact of her work, fostering a legacy that champions the rights and potential of women across various sectors. Her efforts in grassroots development, as evidenced by her active role in initiatives like the Renewed Hope Initiative, have been pivotal in addressing the needs of vulnerable communities and fostering societal progress. Her presence at events such as her recent visit to Cross River State, where she was warmly welcomed by Governor Bassey Otu, underscores her commitment to grassroots development and the empowerment of vulnerable groups. Her recent endeavors, including the distribution of food items during her visit to Cross River State, highlight her active engagement in addressing the immediate needs of those most vulnerable, reinforcing her commitment to fostering resilience and hope within these communities. 

Nana’s strategic vision and compassionate leadership continue to bridge gaps in access to essential resources, empowering women and enriching communities across Nigeria. Her steadfast dedication to uplifting the lives of those around her continues to inspire many, as she remains a beacon of hope and progress in Nigeria’s journey towards an equitable future.

Uwar Marayu”—The Mother of Orphans, as you are fondly called—represents a beacon of compassion and resilience within our community. Your unwavering dedication to the welfare of orphans exemplifies the highest ideals of empathy and selflessness. Over the past fifty years, your tireless efforts have transformed countless lives, providing not only material support but also emotional guidance and a sense of belonging to those who might otherwise feel forgotten.

As we celebrate this remarkable 50th anniversary, we acknowledge the profound impact you have made on both individual lives and society at large. Your commitment has fostered hope and opportunity, inspiring others to emulate your example. In praying with you and your family during this milestone, we invoke blessings upon your continued journey.

May Allah grant you enduring wisdom and courage as you persist in stirring more lives toward glory. Your legacy serves as a testament to the power of dedication in uplifting humanity, encouraging us all to contribute meaningfully to our communities. HAPPY BIRTHDAY!! 

* James BWALA, PhD, writes from Abuja.

Nana Shettima at 50: Happy Golden Anniversary to the woman standing tall on this side of life with VP Kashim Shettima.

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Police arrest 184 suspected internet fraudsters, terrorism financiers in Delta

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Police arrest 184 suspected internet fraudsters, terrorism financiers in Delta

By: Zagazola Makama

The Delta State Police Command has arrested 184 suspects believed to be involved in internet fraud and terrorism financing during a coordinated raid in Effurun, Uvwie Local Government Area.

Police sources told Zagazola Makama that the suspects were apprehended on Monday evening at the Post Housing Estate, Effurun, following credible intelligence on the activities of a syndicate engaged in cybercrime and suspected terror financing.

According to police sources, the Ekpan Division, the Divisional Police Officer swiftly mobilised a tactical team led by an Assistant Superintendent of Police (ASP), who conducted the raid at about 5:45 p.m.

During the operation, the police arrested one Kelvin Odini, 33, identified as a key suspect, alongside 183 others allegedly caught in the act.

Items recovered from the scene include 273 assorted laptops, one iPad, 97 mobile phones, one table phone, nine laptop chargers, and two WiFi routers.

All suspects and the recovered exhibits have been taken into custody at the divisional headquarters.

The sources added that the police have commenced a thorough investigation into the matter, with efforts ongoing to apprehend other fleeing members of the criminal network.
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Plateau Governor: Stop the Hypocrisy – Face the Root of the Crisis

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Plateau Governor: Stop the Hypocrisy – Face the Root of the Crisis

By: Zagazola Makama

So now, Governor Caleb Mutfwang and his government have suddenly discovered that soldiers are no longer effective, and that mobile police officers yes, the same overstretched MOPOL will magically solve what years of denial and silence have failed to address. How convenient.

Let’s be blunt: the security situation in Plateau State is not failing because soldiers are stationed in the wrong locations. It is failing because the state government, past and present, has consistently refused to tackle the root causes of the crisis, particularly the unending farmer-herder conflict as well as the ethno religious that continues to fester like an open wound.

The government always finds its voice when one side of the conflict suffers, calling press conferences, rushing to burnt villages, and shedding crocodile tears for the cameras. Yet when violence is meted out in retaliation often after provocative attacks, land disputes, or extrajudicial killings as well as the mass killings of livestock, the same government goes mute, acting as though nothing happened. What is this if not a dangerous double standard?

Let’s talk facts. Most of these attacks are a sad cycle that has been allowed to spiral because no one is ever held accountable. Communities are sacked, women raped, children slaughtered, yet nobody is arrested, tried, or punished. There is never compensation for victims, no justice, no closure. Just empty condemnations and useless rhetorics.

If you’re serious about peace, Governor Mutfwang, then start by ending the conspiracy of silence. Acknowledge all victims. And stop the killings orchestrated by the state armed militias and vigilante on the other side. Until the government begins to treat both sides of the conflict with equal sincerity, until justice is served without bias, then spare us the hypocrisy of blaming soldiers or hailing mobile policemen as saviours.

This crisis will not be solved with knee-jerk rotations or media pity parades. It will only end when you stop pretending to be shocked by the consequences of your own government’s negligence and failures. Engage in sincere dialogue, listen to all stakeholders, and most importantly, end the extrajudicial killings and selective outrage.

Until then, blaming the military is nothing but a cheap excuse.

Zagazola Makama is a Counter Insurgency Expert and Security Analyst in the Lake Chad Region

Plateau Governor: Stop the Hypocrisy – Face the Root of the Crisis

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