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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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Zamfara: Troops neutralise terrorist, recover arms in Shinkafi LGA

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Zamfara: Troops neutralise terrorist, recover arms in Shinkafi LGA

By Zagazola Makama

Troops of the 1 Brigade of the Nigerian Army operating under Operation FANSAN YANMA have neutralised a suspected terrorist and recovered arms during an offensive operation in Shinkafi LGA.

Security sources told Zagazola Makama that the operation was carried out on March 13 by troops of CT 5, who launched a deliberate clearance mission targeting terrorist camps located at Tubali and Zangon Danmaka.

The sources said the operation followed credible intelligence on the presence of armed bandits and other criminal elements using the locations as operational hideouts.

During the operation at Tubali, troops made contact with the suspected terrorists and engaged them in a brief gun battle, forcing the criminals to flee into nearby forested areas.

“During the engagement, one terrorist was neutralised, while others escaped with possible gunshot wounds,” the source said.

Following the encounter, troops conducted exploitation of the area and recovered one AK-47 rifle, a magazine containing two rounds of 7.62mm special ammunition, and a motorcycle believed to belong to the fleeing terrorists.

The recovered items were secured by the troops while further search operations were carried out around the camp to ensure that no other threats remained in the vicinity.

The sources added that when troops advanced to Zangon Danmaka, no contact was made with terrorists as the suspects were believed to have fled the area ahead of the troop arrival.

However, troops maintained dominance in the general area while conducting further patrols and surveillance operations aimed at preventing the terrorists from regrouping.

Zamfara: Troops neutralise terrorist, recover arms in Shinkafi LGA

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Troops arrest suspected ISWAP spy in Kanama, Yobe

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Troops arrest suspected ISWAP spy in Kanama, Yobe

By Zagazola Makama

Troops of 159 Battalion in collaboration with members of the Civilian Joint Task Force have arrested a suspected spy linked to terrorists operating in the North-East in Kanamma Yobe state.

Security sources told Zagazola Makama that the suspect, identified as Malam Fantami, a native of Dikwa was apprehended during a security operation by troops deployed in the area.

The sources said the suspect was intercepted following credible intelligence indicating that he might be working as an informant for terrorists affiliated with the ISWAP.

According to the sources, items recovered from the suspect at the time of his arrest included a mobile phone, a smart watch, prayer beads, a motorcycle key, and a cash sum of ₦7,000.

Preliminary examination of the suspect’s mobile phone by security personnel reportedly revealed several suspicious materials, including photographs of motorcycles, large sums of cash, AK-47 rifles and other items believed to be linked to terrorist activities.

“The discovery of these materials has raised serious suspicion about the suspect’s role as a possible logistics informant or intelligence asset for insurgent elements operating in the region,” the source said.

The suspect is currently in military custody, where he is undergoing further interrogation to determine the extent of his involvement with terrorist networks and to identify possible collaborators.

The military high command said the arrest forms part of ongoing counter-terrorism efforts by troops in the North-East aimed at dismantling the intelligence and logistics networks that support insurgent operations.

Kanama, located in Yunusari Local Government Area of Yobe State near the border with Niger Republic, has remained an important corridor frequently exploited by insurgent groups for movement and supply activities.

Troops arrest suspected ISWAP spy in Kanama, Yobe

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Troops repel ISWAP attack in Bita, Borno

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Troops repel ISWAP attack in Bita, Borno

By: Zagazola Makama

Troops of Operation HADIN KAI successfully repelled an attack by terrorists suspected to be members of ISWAP in Bita area of Borno state following a fierce overnight encounter.

Security sources said the attack began at about 1:09 a.m. on Saturday, when the insurgents launched a coordinated assault on troops of the 26 Task Force Brigade deployed in the Bita axis.

According to the sources, the terrorists attempted to overwhelm the troops’ position but were met with stiff resistance from the soldiers who engaged them in a sustained gun battle.

“In a decisive and coordinated operation, gallant troops of Operation Hadin Kai launched a simultaneous land and air assault on terrorist positions in Bita in the early hours of today,” the source said.

The coordinated response involved ground troops engaging the insurgents while aerial support conducted precision strikes and surveillance over the battlefield, forcing the attackers to retreat.

The intense engagement compelled the terrorists to withdraw towards their enclaves after suffering heavy pressure from the combined land and air assault.

Following the withdrawal of the insurgents, troops immediately commenced exploitation operations to pursue fleeing elements of the terrorist group and prevent them from regrouping.

Troops repel ISWAP attack in Bita, Borno

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