News
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
Security forces foil kidnapping attempt at Government Girls’ College in Bauchi
By: Zagazola Makama
Security forces have foiled an attempted kidnapping at Government Girls’ College in Bauchi, Bauchi State, in the early hours of Saturday, sources said.
The incident reportedly occurred at about 4:42 a.m. on March 15 when unidentified persons attempted to gain entry into the school premises through the fence near the staff quarters.
Security personnel on guard duty, supported by a patrol team, responded swiftly to the situation. On sighting the approaching officers, the suspected kidnappers abandoned their mission and fled the area.
The development caused brief panic within the school as students raised alarm and ran within the premises. However, no student was harmed or molested during the incident.
Police said the situation has been brought under control, while the school premises remain under close surveillance. Investigations are ongoing to identify and apprehend the suspects.
Security forces foil kidnapping attempt at Government Girls’ College in Bauchi
Man rescued by security forced after abduction in Fika, suspects flee
By: Zagazola Makama
A 35-year-old man, Haruna Abdul, was rescued unhurt after being abducted from his residence in Fali Village, Gashinge, Fika Local Government Area of Yobe State, security sources confirmed on Monday.
The incident, which occurred on March 14, involved unknown assailants armed with bows, arrows, and matches, who reportedly invaded Abdul’s home and forcibly abducted him.
During the attempted transport of the victim to an undisclosed location, police and vigilante groups promptly pursued the kidnappers to Gubana in Fune LGA, Yobe State.
The kidnappers reportedly abandoned Abdul along with a seized motorcycle, described as kasere red in color without registration number, before fleeing into the bush.
The victim has since been reunited with his family, while authorities continue efforts to apprehend the fleeing suspects for prosecution.
Man rescued by security forced after abduction in Fika, suspects flee
Stray bullet injures man in Tsafe following dispute involving military personnel
By: Zagazola Makama
A 38-year-old man sustained gunshot injuries in Tsafe Township, Tsafe Local Government Area of Zamfara State, after a misunderstanding involving a military personnel attached to Operation FANSAN YANMA.
Sources said the incident occurred at about 8:45 p.m. on March 14 in the Sahara area when the military personnel, who was in possession of a serviceable rifle, attempted to apprehend one of several youths from Sabon Fegi area.
According to sources , the youths resisted and overpowered the soldier, who reportedly fired his rifle to escape. A stray bullet hit a passerby, identified as Abdulrazak Abdullahi Kayode, in the stomach.
The injured man was initially taken to General Hospital Tsafe before being referred to Federal Medical Centre, Gusau, for further treatment.
Sources said the situation has been brought under control, and investigations into the incident are ongoing.
Residents have been urged to remain calm while authorities look into the circumstances surrounding the incident.
Stray bullet injures man in Tsafe following dispute involving military personnel
Security forces foil kidnapping attempt at Government Girls’ College in Bauchi
Man rescued by security forced after abduction in Fika, suspects flee
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