Connect with us

Metro

Tinubu promises investors funds won’t be trapped in Nigeria

Published

on

Nigeria’s President Bola Ahmed Tinubu has promised that investors looking to put money in Nigeria will no longer experience incidents of trapped funds as was witnessed during the past administration of President Muhammadu Buhari.

Tinubu, who gave the assurance on Saturday in Riyadh, Saudi Arabia, while talking with captains of Saudi Arabian industries at the Nigeria-Saudi Investment Roundtable, said his administration would ensure the free flow of investors’ funds in and out of Nigeria. He added that the bottlenecks that created the impasse of trapped funds was long gone.

The president also stated that economic reforms embarked upon by his administration, particularly the discontinuance of petrol subsidy and the unification of the exchange rate, would enhance the free flow of funds in and out of the country.

In a statement issued by Special Adviser to the President on Media and Publicity, Ajuri Ngelale, Tinubu said his team of ministers and aides were working to erase the justifications for every negative notion about Nigeria’s business climate in the past with respect to ease, monetary policy and trade cooperation.

“Your money will flow easily in and easily out. The arbitrage around our nation’s old foreign exchange policy regime and the corruption that was associated with it is also gone,” the president assured.

“All bottlenecks will be crushed and your funds will come in and go out without hindrance.”

Assuring the Saudi business community that Nigeria had the ripe market and human capital for investors to prosper, Tinubu said:

Nigeria is open for business. I believe in the team that I have brought from Nigeria. When I took office, I declared the immediate commencement of bold and fundamental economic reforms.

“We have executed them, and we sustain the reform process. Today, I declare that red tape is gone! I believe in the full application of free market economics.

“We took on those bold endeavours from day one in preparation for serious investors like you seated here.”

Metro

Zambia: Expert warns of food security threat due to climate change 

Published

on

A prominent Zambian climate-smart agriculture expert, Oliver Bulaya, has warned of a collapse of the county’s agricultural sector with a potential threat to food security due to the worsening impact of climate change.

Bulaya, who bared his mind in an interview with Zambia Monitor on Friday, warned that ignoring the crisis could lead to severe disruptions in the country’s food supply and economy.

“Unless concerted efforts are made, the country will continue facing dire consequences from climate change,” the expert noted.

He lamented a growing trend of farmers relocating to regions experiencing above-normal rainfall, such as the northern block, as they struggle with losses caused by climate variability.

Bulaya emphasized that the once-reliable rainfall areas like North-Western Zambia are now experiencing lower precipitation, as seen during the 2023/2024 farming season and cautioned that poor farming practices, which had already strained the Southern region, could lead to similar challenges in other parts of the country if proactive measures were not implemented.

Continue Reading

Metro

Outrage over murder of Nigerian beaten to death by South Africans inside estate security office

Published

on

The Nigerian community, under the auspices of Nigerian Citizens Association in South Africa (NICASA), has raised the alarm over the murder of a 37-year-old Nigerian, Julius Chukwunta, who was beaten to death by four South Africans inside an estate.

According to the association, Chukwunta, a native of Aninri Local Government Area in Enugu State, was reportedly attacked on Saturday, December 7, while driving to his residence in Midrand Protea Estate.

In a statement issued on Saturday by the President-General of NICASA, Dr Frank Onyekwelu, Chukwunta was blocked by the four men while approaching his residence.

Onyekwelu stated that information available to the association noted that after attempting to pass through, Chukwunta was met with resistance by the assailants, prompting him to seek help at the security office of the estate.

“At that moment, the four men allegedly attacked him, leaving him severely injured with a head wound,” the PG said.

“His female companion, who was sitting in the car, rushed to the security office and discovered him bleeding on the ground.

“In spite of attempts to call for help, the security office and residents did not assist in calling the police or an ambulance.

“After an hour, Chukwunta’s partner contacted her father, who, along with other family members, took him to Tembisa General Hospital.

“Chukwunta was placed on life support but later succumbed to his injuries and died at the Tembisa General Hospital on December 10, 2024.”

Onyekwelu also confirmed that the case was reported to the police by Chukwunta’s partner at the Midrand Police Station and was registered under file number 262/12/2024.

The NICASA President said the four suspects, aged 20, 24, 27, and 28, were arrested, and the case was presented in Alexandra Magistrate Court on December 13, 2024, where they were charged with murder.

“The court proceedings on December 18, 2024, saw three of the suspects granted bail of R10,000 each, while the fourth had not yet applied for bail. The case was adjourned to February 3, 2025.”

Onyekwelu however, expressed disappointment at the proceedings, wondering why three of the suspects were released on bail and vowed that the Nigerian community would continue to demand justice for Chukwunta and support his family.

He emphasised that the community would not rest until justice was served and the value of Nigerian lives was upheld in South Africa.

Continue Reading

EDITOR’S PICK

Sports8 hours ago

Coach of Mamelodi Sundowns female team suspended over sexual harassment allegations

The head coach of Mamelodi Sundowns women’s team, Jerry Tshabalala, has been suspended indefinitely amid allegations of sexual harassment of...

Culture10 hours ago

Ghana’s Afua Asantewaa begins second GWR sing-a-thon attempt

Ghanaian singer, Afua Asantewaa, on Saturday, began her second attempt at breaking the Guinness World Record (GWR) for the longest...

Tech10 hours ago

20 African tech-preneurs embark on Korean innovation tour

The African Development Bank Group’s Innovation and Entrepreneurship Lab has selected 20 promising tech entrepreneurs from various African technology ventures...

Metro10 hours ago

Zambia: Expert warns of food security threat due to climate change 

A prominent Zambian climate-smart agriculture expert, Oliver Bulaya, has warned of a collapse of the county’s agricultural sector with a...

Metro15 hours ago

Outrage over murder of Nigerian beaten to death by South Africans inside estate security office

The Nigerian community, under the auspices of Nigerian Citizens Association in South Africa (NICASA), has raised the alarm over the...

VenturesNow2 days ago

Moroccan annual inflation rises to 0.8% in November

Morocco’s statistics office has confirmed that the country’s annual inflation rate, as determined by the consumer price index, increased from...

Musings From Abroad2 days ago

Swiss company Mercuria partners Zambia’s IDC in new metals trading firm

According to a statement released by Swiss commodities trader, Mercuria, on Thursday, it has established a metals trading arm with...

Metro2 days ago

Nigerian activist remanded in prison for threatening President’s son

A Nigerian court has ordered a female activist, Olamide Thomas, to be remanded in prison custody for allegedly issuing a...

Metro2 days ago

Zambian law association kicks over suspension of two members

The Law Association of Zambia (LAZ) has kicked against the suspension of two of its council members, Arnold Kaluba, the...

Sports2 days ago

FIFA Ranking: Nigeria ends 2024 as fifth best team in Africa

Nigeria’s men’s football national team, the Super Eagles, ended the year 2024 as the fifth best team in Africa in...

Trending