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
News
Man kills father during domestic dispute in Bauchi community

Man kills father during domestic dispute in Bauchi community
By: Zagazola Makama
A man, identified as Limam Muhammad Baba, has allegedly killed his biological father, Malam Baba Siti, during a domestic altercation.
The tragic incident occurred on Thursday, July 3, at about 10:15 p.m., in Uzum village, Giade Local Government Area of Bauchi State, when an argument between the two escalated, leading Limam to strike his father on the head with a stick.
Sources told Zagazola Makama that the victim collapsed immediately and lost consciousness.
Police sources say “The report was received at the Giade Divisional Police Headquarters at about 10:30 p.m. that the suspect used force on his biological father by striking him on the head with a stick, leading to the victim falling unconscious.
He added that a team of police operatives was immediately mobilised to the scene. The suspect was arrested, and the victim was taken to the General Hospital in Giade, where a medical doctor confirmed him dead on arrival.
The police sources said the body of the deceased was deposited at the hospital morgue while an investigation into the circumstances surrounding the incident has commenced.
He assured that the suspect would be charged to court upon completion of investigation.
Man kills father during domestic dispute in Bauchi community
News
Deputy chairman of Katsina-Ala LGA attacked, four suspects arrested

Deputy chairman of Katsina-Ala LGA attacked, four suspects arrested
By: Zagazola Makama
Security forces have apprehended four suspects in connection with an attack on the Deputy Chairman of Katsina-Ala Local Government Area, Mr Christopher Chia.
Sources told Zagazola Makama, that the incident occurred in the early hours of Thursday, July 3, when Chia was reportedly attacked by a group of young men suspected to be cultists.
The sources said the police received a distress call from the victim at about 6:00 a.m.
“Police patrol and tactical teams were immediately deployed to the scene. The victim was rescued and taken to Toro Hospital in Katsina-Ala, where he was treated and later discharged,” said the sources.
According to the sources, preliminary investigation led to the arrest of four suspects, while efforts are ongoing to apprehend the prime suspect identified simply as Richard, a member of the Black Axe confraternity, who is currently at large.
The sources added that the State Criminal Investigation Department (CID) has commenced a full investigation into the matter to unravel the motive behind the attack and bring all those involved to justice.
Deputy chairman of Katsina-Ala LGA attacked, four suspects arrested
News
Joint task force rescues kidnap victim in Abuja after 40km forest operation

Joint task force rescues kidnap victim in Abuja after 40km forest operation
By: Zagazola Makama
A joint task force comprising operatives of the
Department of State Services (DSS), Federal Capital Territory (FCT) Police Command, local hunters, and vigilantes has successfully rescued a kidnap victim, Rasheed Soyinka, after a 40-kilometre forest operation across parts of Abuja.
Zagazola Makama learnt that the victim was abducted at gunpoint from his residence in Sabon Lugbe in the early hours of July 3, prompting a swift multi-agency response.
Shortly after the abduction, which occurred around 1:00 a.m., a joint task force involving the Anti-Kidnapping Unit, DSS operatives, local hunters, and vigilante groups, swung into action.
The coordinated operation, extended through Dafara via Gau Forest in Kuje Area Council and continued into Kabin Mongoro and Kwaita forests in Kwali Area Council, covering an estimated distance of 40 kilometres.
“Following sustained pressure and professional coordination, the victim was rescued at about 12:05 a.m. on July 4 without any casualties,”said the sources.
Soyinka was subsequently reunited with his family through his elder brother, while efforts are ongoing to track down the fleeing abductors.
Joint task force rescues kidnap victim in Abuja after 40km forest operation
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