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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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Reverend Dachomo insist “I was a notorious criminal in this village, a drug cartel… but I found Jesus”

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Reverend Dachomo insist “I was a notorious criminal in this village, a drug cartel… but I found Jesus”

By: Zagazola Makama

Rev. Ezekiel Dachomo, has again recounted his past life of crime and subsequent spiritual transformation, attributing his change to his Christian faith.

Dachomo made the disclosure during a religious gathering, where he shared his personal testimony of repentance and renewal.

“I was a notorious criminal in this village, a drug cartel in this village, a wanderer in this village. That is my testimony,” he said.

The pastor also claimed involvement in criminal activities in his earlier years.

“When I say 1980, it is our gang that robbed a bank, and the person that led that operation is my best friend,” he said.

He explained that his life took a new direction after he embrace Jesus during the robbery.

“When I submitted myself to Jesus, who is my Saviour, I allowed Him to control my life, and Jesus forgave my sin. I am a new person in Christ Jesus,” he said.

However, Dachomo has come under relentless attacks with many asking the authorities to investigate his confession and prosecuting him for his past criminality.

They accused him of infighting fire in the already existing crises between farmers and herders in the state especially when he was openly heard asking the youths to go to WAR.

Reverend Dachomo insist “I was a notorious criminal in this village, a drug cartel… but I found Jesus”

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Troops foil cattle rustling, recover 84 livestock in Kaduna

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Troops foil cattle rustling, recover 84 livestock in Kaduna

By: Zagazola Makama

Troops of Operation Hadin Kai have foiled a cattle rustling attempt and recovered 84 livestock in Igabi Local Government Area of Kaduna State.

A military source said the operation was carried out by troops of 4 Division Demonstration Battalion deployed at the Forward Operating Base (FOB) Dumbi.

The source disclosed that the troops responded at about 5:30 a.m. on March 27 to credible intelligence on cattle rustling activities at Pan Daudu settlement.

“Following the information, troops swiftly mobilised and laid ambush at a suspected crossing point between Lamban Zango and Monday Market in Igabi Local Government Area,” the source said.

He added that the suspected rustlers, on approaching the ambush site, abandoned the livestock and fled the scene.

“The terrorists, upon sighting the troops’ position, fled in disarray, abandoning 84 rustled livestock,” he said.

According to him, the recovered animals were subsequently handed over to their rightful owners.

Troops foil cattle rustling, recover 84 livestock in Kaduna

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Troops arrest 14 suspects in cordon-and-search operation in Borno

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Troops arrest 14 suspects in cordon-and-search operation in Borno

By: Zagazola Makama

Troops of Sector 1, Operation Hadin Kai, have arrested 14 suspects during a cordon-and-search operation in Bama Local Government Area of Borno.

Sources said the operation, conducted by troops of 21 Special Armoured Brigade, followed credible intelligence on the activities of a suspected terrorist and kidnapper identified as Baba Ali.

The sources disclosed that the operation took place at about 2:20 p.m. on March 25 at Ngurosoye village, where the suspect was being tracked through intercepted communications.

During the operation, troops apprehended 14 suspects at the location where the tracked calls were received.

Two bags of fertiliser, suspected to be for illicit use, were also recovered from the scene.

The suspects are currently in military custody for further investigation and necessary action.

Troops arrest 14 suspects in cordon-and-search operation in Borno

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