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Nigeria to Benefit from US$500 million Development Plan

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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

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Military Air precision bombardment neutralises over 50 terrorists after attack on Ngoshe in Borno

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Military Air precision bombardment neutralises over 50 terrorists after attack on Ngoshe in Borno

By: Zagazola Makama

The Air Component of Operation Hadin Kai has neutralised over 50 suspected Boko Haram/ISWAP terrorists following precision air strikes on their withdrawal routes after a failed attack on Ngoshe in Gwoza Local Government Area of Borno.

Sources told Zagazola Makama that the officer said the terrorists had, at about 7:30 p.m. on March 3, launched a coordinated assault on artillery positions in Ngoshe, a community located about 12 kilometres from Pulka and 31 kilometres from Gwoza town.

“The insurgents attempted to overrun the artillery positions in a surprise evening attack. Troops on ground responded effectively but conducted a tactical withdrawal under intense fire to preserve personnel and equipment while reinforcements were being mobilised,” he said.

The sources explained that the insurgents had adopted a hit-and-withdraw tactic, abandoning the scene before reinforcement troops fully secured the area.

The sources added that additional troops were immediately deployed, while surveillance platforms tracked the fleeing terrorists along identified withdrawal corridors.

“Upon receipt of real-time intelligence from ground troops, the surveillance aircraft were scrambled to engage the terrorists on their egress routes. The terrorists were sighted moving in clusters in both locations.

“Precision bombardment was conducted on confirmed target clusters and movement trails. Battle Damage Assessment indicates that over 50 terrorists were neutralised in two separate strike runs,” the officer said.

“The air-ground synergy under Operation Hadin Kai ensured that although the terrorists attempted to escape into forested enclaves, they were decisively engaged from the air.

“The strikes also disrupted their logistics and mobility capability within the Ngoshe–Pulka corridor,” he said.

The sources further stated that clearance and area domination operations were ongoing to forestall any regrouping attempts by the insurgents.

He noted that the Ngoshe–Gwoza axis remains a historically volatile corridor due to intermittent activities of Boko Haram and ISWAP remnants exploiting difficult terrain and proximity to cross-border forest zones.

“Operation Hadin Kai remains resolute in sustaining offensive pressure. The message is clear any attempt to attack our positions will attract overwhelming and coordinated firepower,” he said.

He assured residents of Gwoza and surrounding communities of the military’s commitment to protecting lives, supporting resettlement efforts, and consolidating gains recorded in the ongoing counter-insurgency campaign in Borno.

Military Air precision bombardment neutralises over 50 terrorists after attack on Ngoshe in Borno

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Two arrested over alleged child trafficking in Cross River

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Two arrested over alleged child trafficking in Cross River

By; Zagazola Makama

Two suspected child traffickers have been arrested by the Police in Oboho Ito community, Odukpani Local Government Area of Cross River, following a foiled attempt to allegedly sell a one-month-old baby.

Security sources told Zagazola Makama that the suspects were apprehended on March 2 after youths of the community intercepted them based on a tip-off.

According to the source, the mother of the baby, Favour Effiong, reported that on March 1, one Happiness Etim Udoh, allegedly persuaded her to bring her one-month-old child under the pretext of taking her to receive financial assistance for the upkeep of the baby.

“On suspicion, the mother informed her landlord, and community youths laid ambush for the suspect,” the source said.

Udoh was subsequently arrested alongside an alleged accomplice, Ekpo Inyang, said to have no fixed address.

Police say preliminary investigation revealed that the suspects allegedly planned to snatch and sell the baby to a woman in Abuja.

The source further disclosed that during interrogation, the suspects allegedly confessed to previously selling a child for N200,000 to a buyer in Abuja.

It was also alleged that arrangements had been made to hand over the one-month-old baby to a relative of one of the suspects in Abuja, who was reportedly pretending to be pregnant.

The baby was safely recovered and handed back to the mother.

Police said investigation into the matter had commenced, while efforts were ongoing to identify and apprehend other members of the suspected trafficking network.

They reiterated commitment to tackling child trafficking and protecting vulnerable children across the state.

Two arrested over alleged child trafficking in Cross River

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Troops of Operation HADIN KAI repel ISWAP attack in Damasak, three residents shot

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Troops of Operation HADIN KAI repel ISWAP attack in Damasak, three residents shot

By: Zagazola Makama

Troops of Operation HADIN KAI, in collaboration with Civilian Joint Task Force (CJTF)/Hunters Group, successfully repelled an attack by suspected ISWAP terrorists in Damasak town, Nganzai Local Government Area.

According to sources, the assailants invaded the town around 10:30 p.m., opening sporadic gunfire that sent residents fleeing in panic.

“Three civilians, Goni Dauda, 25, of Zanna Umarti Ward; Modu Ya’asham, 32, of Gajiram Town; and Asinamai David, 25, of Bula Kara, Gubio Town, were fatally hit by stray bullets, while Kellu Bukar, 40, an IDP camp resident, sustained a chest wound and is currently receiving treatment at General Hospital Damasak.

The troops stormed the scene and engaged the terrorists in a heavy gun battle forcing them to flee with bullets wounds.

The troops later visited the scene and evacuated the victims.

The corpses of Goni Dauda and Modu Ya’asham were released to their families for burial according to Islamic rites, while Asinamai David was buried according to Christian rites.

Security forces confirmed that normalcy has returned to the town, and monitoring continues to prevent further incidents.

Troops of Operation HADIN KAI repel ISWAP attack in Damasak, three residents shot

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