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
Police successfully rescue kidnapped ward head in Benue
By: Zagazola Makama
The Benue State Police Command has successfully rescued Dickson Idu, the Ward Head of Ehatokpe Ohimini, who was abducted on April 30, 2025.
Police sources told Zagazola Makama that the victim was kidnapped from his residence in Ohimini Local Government Area (LGA).
Upon receiving the information, the Commissioner of Police, Benue State, directed the Acting Area Commander Otukpo, the Officer-in-Charge of the Anti-Kidnapping Unit, and a team of officers to immediately proceed to the area and ensure the safe rescue of the victim.
At approximately 8:45 a.m., a combined team of armed conventional policemen, the Anti-Kidnapping Unit, and personnel from the Benue State Civil Protection Guard, supported by Ohimini youths, launched an operation in the Ojanu/Ijami Village forest. The team conducted an intense combing operation, utilizing smoke canisters to pressure the kidnappers.
The strategy paid off, and at about 3:25 p.m., the kidnappers, feeling the heat of the search, released their captive. Dickson Idu was successfully rescued and has been debriefed and reunited with his family.
The sources said while no arrests have been made so far, the police have assured that investigations are underway, with efforts to apprehend the suspects continuing.
Police successfully rescue kidnapped ward head in Benue
Notorious bandit killed during gunfight with police in Zaki-Biam in Benue
By: Zagazola Makama
A notorious bandit, Aungwa Sesugh, alias Tino Brown, was killed in a gunfight with the Benue State security forces during a raid in the Zaki-Biam area early today.
Intelligence sources told Zagazola Makama that at about 1:30 a.m. on May 1, 2025, the Tactical Team, acting on a tip-off, arrested Aungwa Sesugh, a notorious member of the Akumave gang, in possession of a locally fabricated Beretta pistol with three live ammunition and assorted charms.
Upon interrogation, Sesugh confessed to being involved in several criminal activities, including the kidnapping of Ukum Nulge’s Chairman. He led the police team to Tse-Shor Village, where he claimed the gang’s arms were stored.
However, upon arrival, members of his gang opened fire on the security team. During the ensuing exchange of gunfire, Sesugh was struck by a bullet, sustaining injuries. Despite being rushed to the hospital for treatment, he succumbed to his wounds.
Other members of the gang, believed to have been wounded in the gunfight, managed to escape into the surrounding bushes. Additional security forces have been deployed to the area in pursuit of the fleeing bandits.
Notorious bandit killed during gunfight with police in Zaki-Biam in Benue
Explosion at Giwa barracks armoury caused by heatwave — Military sources
By: Zagazola Makama
Sources from the Nigerian military High Command in Maiduguri have debunked rumours circulating on social media about an alleged attack on the Giwa military barracks in Maiduguri, Borno, clarifying that the incident at the base’s armoury was caused by extreme heat.
The sources said the incident occurred due to a heat-induced reaction within a section of the armoury, leading to a wild explosion and fire.
The Command confirmed that they are working to bring the situation under control.
“What occurred was an isolated incident triggered by excessive heat, which caused an explosion within the armoury.
The military sources urged Members of the public to disregard panic-inducing reports and refrain from spreading misinformation that could create unnecessary fear among residents.
It assured the public that all military facilities in Maiduguri remain secure and that routine operations continue without disruption.
“There is no cause for alarm. Our troops are fully alert and in control of the situation,”said the sources.
Explosion at Giwa barracks armoury caused by heatwave — Military sources
Police successfully rescue kidnapped ward head in Benue
Notorious bandit killed during gunfight with police in Zaki-Biam in Benue
Explosion at Giwa barracks armoury caused by heatwave — Military sources
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