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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
Troops rescue two kidnapped victims in Benue
By: Zagazola Makama
Troops of Sector 1 under Operation Whirl Stroke (OPWS) have rescued two kidnapped victims in Ukum Local Government Area of Benue State.
Security sources said the incident occurred at about 3:50 a.m. on April 15 when troops deployed at Kyado responded to a distress call on kidnapping activities in the area.
According to the sources, the troops swiftly moved to the scene, prompting the kidnappers to abandon their victims and flee.
The sources added that the troops successfully rescued the two victims and reunited them with their families.
Security operations have been intensified in the area to track down the fleeing suspects and prevent further incidents.
Troops rescue two kidnapped victims in Benue
Troops arrest bandit kingpin’s Deputy, wife in Gombe following intelligence operation
By: Zagazola Makama
Troops have arrested the second-in-command to a notorious bandit kingpin, Kachalla Auta, alongside his wife in Gombe State following an intelligence-led tracking operation across multiple locations.
Sources said the suspects, identified as Bala, popularly known as “Pakapaka,” and his wife, Zulaha Bala, were intercepted after fleeing from Dajin Madam Forest in Plateau State.
According to the sources, the arrests were the result of sustained intelligence surveillance and coordinated ground tracking by security operatives targeting fleeing members of the criminal network.
The suspects are currently in custody and undergoing interrogation to determine their level of involvement in the group’s activities and possible connections with other cells operating within and outside the region.
In a related development, troops conducted follow-up patrols around Bayar village in the Duguri axis after intelligence indicated that the main bandit kingpin had fled into the area.
However, no contact was made during the search operation.
Security sources said troops have continued to dominate the general area with sustained patrols aimed at denying criminal elements freedom of movement and disrupting their operational networks across Plateau, Taraba, and adjoining states.
Troops arrest bandit kingpin’s Deputy, wife in Gombe following intelligence operation
Troops rescue 12 kidnapped victims, arrest kingpin’s aides in Plateau–Taraba forest operations
By: Zagazola Makama
Troops conducting ongoing clearance operations under Operation Wutan Daji have rescued 12 kidnapped victims and arrested key associates of a fleeing bandit leader during coordinated offensives across forested areas linking Plateau and Taraba States.
A military source said the operations, carried out on April 15 and 16, involved troops of the 33 Artillery Brigade in conjunction with an Office of the National Security Adviser (ONSA) tactical team.
According to the source, the operations were conducted in the Dajin Madam and Kumbodoro forest axis, spanning parts of Plateau and Taraba States.
The source said the sustained offensive led to the recovery of 12 kidnapped victims who escaped from their captors during the pressure mounted by troops.
The victims were subsequently taken into custody for profiling before being moved to an Internally Displaced Persons facility in Fukuk.
Troops also recovered a Dane gun, a fabricated AK-47 rifle and a power bank during the operation.
Troops rescue 12 kidnapped victims, arrest kingpin’s aides in Plateau–Taraba forest operations
Troops rescue two kidnapped victims in Benue
Troops arrest suspected ammunition racketeer in Cross River
Troops arrest bandit kingpin’s Deputy, wife in Gombe following intelligence operation
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