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Nigeria to Benefit from US$500 million Development Plan
Nigeria to Benefit from US$500 million Development Plan
By: Michael Mike
Nigeria is one of the country to benefit from a Memorandum of Understanding (MoU) signed for the co-financing of up to US$500 million of debt transactions to facilitate long-term sustainable development across developing economies and low-income countries in Africa, Asia, and the Caribbean.
The MoU was signed between British International Investment (BII), the UK’s Development Finance Institution (DFI) and impact investor with Amsterdam-based ILX Management (ILX), an SDG and Climate-Focused Emerging Market Private Debt Fund.
According to a statement jointly signed by Clare Murray of British International Investment and Simone Boes of ILX Management, BII and ILX will invest across a broad range of sectors including renewable energy, infrastructure, financial services, manufacturing and agribusiness to increase the flow of capital into impactful businesses and projects.
The statement added that this new partnership will enable both parties to leverage each other’s expertise and provide additional financial firepower across Africa, Asia and the Caribbean. ILX and BII will share information on prospective projects, emerging technologies, and financial innovation. They will also establish a roadmap to mobilise private sector capital, specifically focusing on providing institutional investors with greater access to high-impact private debt investment opportunities in scalable businesses driving productive, sustainable and inclusive growth.
CEO, BII, Nick O’Donohoe said: “This partnership has been driven by our shared view of the need to invest to meet the SDGs. It furthers our ambition to create new job opportunities in developing economies and will provide private credit to help bridge the finance gap faced by many businesses. This asset class remains nascent, comprising of just 3 per cent of private credit globally, and is the natural next step for allocators of global private credit.”
CEO, ILX Management B.V., Manfred Schepers, said “ILX has already received over US$1 billion in commitments from leading Dutch pension funds and is currently raising a successor fund for a targeted US$ 2 billion commitments from European pension funds. Working with BII, together we will increase financial capacity for project finance, financial services debt and private sector debt across Africa, Asia and the Caribbean. We have a strong track record of investing alongside the leading Multilateral Development Banks and other Development Finance Institutions in climate, and SDG-targeted projects across emerging economies globally and look forward to the opportunities this partnership will bring.”
UK Minister for Development and Africa, Andrew Mitchell, on his part said “This MoU with ILX is an example of British International Investment’s pioneering approach to mobilising the private finance needed to deliver the UN Sustainable Development Goals. I am proud that FCDO provided early-stage funding to ILX, which went on to secure over US$1 billion in commitments to its first investment fund.
This new partnership will mobilise up to US$500m of additional finance for low-income countries across Africa, Asia, and the Caribbean, improving access to renewable energy and quality infrastructure and helping businesses to thrive.”
Nigeria to Benefit from US$500 million Development Plan
Boko Haram Terrorists Ambush Vigilantes in Borno, One Killed
By: Zagazola Makama
Suspected Boko Haram terrorists have ambushed members of a vigilante group on routine patrol along the Warave–Gwoza Road in Gwoza Local Government Area of Borno State, killing one member.
Sources said the attack occurred at about 7:30 a.m. on Tuesday when the gunmen opened fire on members of the Civilian Joint Task Force (CJTF) and local hunters conducting patrol in the area.
A member of the CJTF in Warave, Bello Adamu, 50, sustained fatal injuries during the ambush. He was evacuated to the General Hospital in Gwoza, where he was certified dead on arrival. His remains were later released to his family for burial in accordance with Islamic rites.
Troops of Operation HADIN KAI were deployed to the scene following the incident, while monitoring and patrols have been intensified along the axis to prevent further attacks.
Boko Haram Terrorists Ambush Vigilantes in Borno, One Killed
Troops Neutralise Four Terrorists in Offensive Operation in Borno
By: Zagazola Makama
Troops of Sector 1, Operation HADIN KAI in conjunction with members of the Civilian Joint Task Force (CJTF), have neutralised Four suspected Boko Haram terrorists during an offensive operation in Shehuri area of Konduga Local Government Area of Borno State.
Sources told Zagazola that the operation, conducted at about 9:15 a.m. on Feb. 25 under Operation Desert Sanity IV, led to the interception and engagement of the terrorists.
Following the encounter, troops carried out exploitation of the area, during which four insurgents were neutralised.
Items recovered from the scene included AKSM automatic rifle and pump-action rifle with cartridges and magazines.
Sources added that troops’ morale and fighting efficiency remain high as clearance operations continue across parts of the state.
Troops Neutralise Four Terrorists in Offensive Operation in Borno
Lakurawa Terrorists on revenge Mission Kill Four Worshippers in Kebbi Mosque, Five Injured
By: Zagazola Makama
Suspected Lakurawa terrorists on a revenge mission have attacked Dadinkowa village in Maiyama Local Government Area of Kebbi State, killing four worshippers and injuring five others after storming a mosque.
Sources said the attackers invaded the community and opened fire on worshippers, leaving four persons dead and five others with varying degrees of injuries. The injured victims were rushed to a medical facility for treatment.
The latest attack is believed to be a reprisal following a failed ambush on the convoy of the General Officer Commanding (GOC) 8 Division, Maj.-Gen. Bemgha Koughna, during an operational tour in the state.
On Wednesday, troops of Operation Fansan Yamma reportedly foiled the ambush near Mayama Hill, neutralising five suspected terrorists. Weapons and other items recovered during the operation included one OJC gun, one PKT gun, two AK-47 rifles, four AK-47 magazines, a bandolier of PKT ammunition, several rounds of 12.7mm ammunition, a camel bag containing N840,000, two mobile phones and five motorcycles.
Security sources said the terrorists were suspected to have launched the mosque attack in retaliation for the heavy losses recorded during the failed ambush.
Operation FANSAN YANMA have assured that efforts were ongoing to track down those responsible for the latest assault.
Lakurawa Terrorists on revenge Mission Kill Four Worshippers in Kebbi Mosque, Five Injured
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