Tag: Nigeria

  • Nigeria Denied Attractive Science Grants Over Absence Of Research Funding Agency — Prof. Ozor

    TETFund-validation-workshop.

    Executive Director, African Technology Policy Studies (ATPS) Network, Prof. Nicholas Ozor, has disclosed that the non-existence of a National Research and Innovation Funding Agency in Nigeria has denied the country foreign grants for research.

    Ozor disclosed this during a validation workshop on “Strengthening Research and Innovation Funding Agencies in West Africa,” which was held at the Tertiary Education Trust Fund (TETFund) headquarters on Monday in Abuja.

    Ozor, however, stated that the workshop was aimed at discussing the challenges and bringing out modalities to ensure that Nigeria has a national research and innovation funding agency to help strengthen research not just in the country but in Africa.

    “Nigeria specifically has an issue currently because they do not yet have a well-recognized national research and innovation funding agency, and that is part of why we are here to work with appropriate agencies and stakeholders within the science and innovation ecosystem to see how we can establish a functional science and innovation funding agency in Nigeria, because other countries in Africa, especially Sub-Saharan Africa, already have these councils functional, and because of that, they are able to receive funding from agencies across the world to support research and development.

    “Currently, TETFund is standing in as the representative council for Nigeria, but we are saying we should best situate the national research and innovation funding agency in an appropriate establishment that focuses on innovation, like the Ministry of Science and development,” he said.

    Also speaking at the event, Assistant Director, Research and Development (R&D) of TETFund, Dr. Hadiza Ismail, disclosed that so far the Fund has spent over N23 billion on funding research across the country.

    Ismail, who represented the Director of TETFund’s R&D at the event, said the agency was fully committed to the establishment of a Science Granting Council in Nigeria.

    While noting that TETFund has continued to financially support research through the National Research Fund, Ismail said the Fund was also working hard to ensure that research outputs are linked to industry to bring about the desired development.

    “So far, the Fund has spent over N23 billion on about 912 research projects that have been sponsored.

    “But that also gives us an insight into the need for this workshop and what we are actually talking about. Despite the fact that we have given grants to over 900 projects, we want to see how we can link these research projects to industry and get viable outcomes at the end of the day to help Nigeria move forward,” she said.

    Also speaking, the President of African University of Science and Technology (AUST), Abuja, Prof. Peter Onwualu, harped on the importance of innovation in bringing about development, adding that the workshop was expected to usher in a functional science granting council in Nigeria.

    “We know that in this country, we need the results of science and technology, which usually translate into innovation.

    “Innovation that can produce goods and services to make sure our economy runs well, but we have to have a good institutional framework for doing research in Nigeria, and that is all this project is all about.

    “We believe the outcome of this workshop will make Nigeria have a functional science granting council that can finance and fund research in all sectors of the economy; universities, polytechnics, research institutes, private sector organizations, SMEs, and even the informal sector. These people you see on the streets inventing one thing or another, we need to garner support to be able to support them to move from research to goods and services,” he said.

    Nigeria Denied Attractive Science Grants Over Absence Of Research Funding Agency — Prof. Ozor is first published on The Whistler Newspaper

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  • Waldrum calls up Nnadozie, Oshoala, Plumptre, 19 Others for South Africa Clash

    2024 Olympic Qualifier: Waldrum calls up Nnadozie, Oshoala, Plumptre, 19 Others for South Africa Clash

    Super Falcons head coach, Randy Waldrum has called up captain Rasheedat Ajibade, US-based player, Asisat Oshoala and goalkeeper Chiamaka Nnadozie plus dozens of players for the two-legged Paris Olympics final qualifying fixture against South Africa next month.

    Other regular players like Ashleigh Plumptre, Toni Payne, Michelle Alozie, Ifeoma Onumonu and Uchenna Kanu were also included in the squad but Oluwatosin Demehin and Rofiat Imuran were excluded.

     

    The Super Falcons are at home for the first leg scheduled for Friday, 5th April at the MKO Abiola National Stadium, Abuja before flying to Pretoria for the return at the Loftus Versfeld Stadium on Tuesday, 9th April.

     

    The winner over two legs will earn one of Africa’s two tickets to this year’s Women’s Olympic Football Tournament, with Zambia and Morocco to clash for the other ticket on the same dates.

    FULL LIST

    Goalkeepers: Chiamaka Nnadozie (Paris FC); Tochukwu Oluehi (Shualat Alsharqia FC, Saudi Arabia); Linda Jiwuaku (Bayelsa Queens)

    Defenders: Osinachi Ohale (Pachucha Club de Futbol, Mexico); Ashleigh Plumptre (Ittihad Ladies, Saudi Arabia); Shukurat Oladipo (FC Robo Queens); Michelle Alozie (Houston Dash, USA); Nicole Payne (Portland Thorns FC, USA); Chidinma Okeke (Mynavi Sendai Ladies, Japan)

    Midfielders: Deborah Abiodun (University of Pittsburgh, USA); Halimatu Ayinde (FC Rosengard, Sweden); Christy Ucheibe (SL Benfica, Portugal); Jennifer Echegini (Juventus Ladies, Italy); Rasheedat Ajibade (Atletico Madrid FC, Spain); Toni Payne (Sevilla FC, Spain)

    Forwards: Omorinsola Babajide (Coasta Adeje Tenerife Egatesa, Spain); Esther Okoronkwo (Changchun FC, China); Ifeoma Onumonu (SLC Utah, USA); Asisat Oshoala (Bay FC, USA); Uchenna Kanu (Racing Louisville, USA); Gift Monday (Coasta Adeje Tenerife Egatesa, Spain); Chiwendu Ihezuo (Pachucha Club de Futbol, Mexico)
     

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  • Top 10 stories from across Nigerian Newspapers, Tuesday, March 26, 2024

    Top 10 stories from Nigerian newspapers

    Here are the top 10 stories making headlines across the country.

    1. Nigerian govt to quiz Gumi days after he offered to dialogue with bandits

    The Federal Government has invited the controversial Islamic cleric, Sheikh Ahmad Gumi, over his perceived closeness to the bandits wreaking havoc in the North-West.Read more

    2. Nigerian govt saved N300bn from Second Niger Bridge new design – Umahi

    The Minister of Works, David Umahi, said on Monday Federal Government saved about N300 billion from the new design of the Onitsha axis of the second Niger Bridge.Read more

    3. Information minister denies payment of ransom to abductors of Sokoto, Kaduna children

    The Minister of Information and Orientation, Mohammed Idris, said on Monday the Federal Government did not pay ransom to secure the release of children abducted by terrorists in Sokoto and Kaduna States.Read more

    4. Questions as detained Binance executive, Anjarwalla escapes from custody in Nigeria

    The escape of Nadeem Anjarwalla, one of the two Binance Holdings Limited executives who was under detention in Nigeria for alleged tax evasion and other offences, has thrown up several questions.Read more

    5. In open letter to Tinubu, PRP renews call for forensic audit of 2024 budget, Sen Ningi’s suspension

    The Peoples Redemption Party (PRP), has renewed its earlier call for the Federal Government to conduct a forensic audit of the controversial 2024 budget that has been enmeshed in a padding scandal that saw the figure raised from N25 trillion to N28 trillion, with an addition of N3.7 trillion.Read more

    READ ALSO:Top 10 stories from across Nigerian Newspapers, Monday, March 25, 2024

    6. Tinubu presides over FEC meeting

    President Bola Tinubu on Monday presided over the Federal Executive Council (FEC) meeting holding at the Aso Chamber of the State House, Abuja.Read more

    7. CBN sells FX to BDCs at N1,251/$1

    The Central Bank of Nigeria (CBN) has sold $10,000 to all eligible Bureau De Change (BDC) operators in the country at the rate of N1,251/$1.Read more

    8. NCC files copyright violation charges against MTN, 4 others

    The Nigerian Copyright Commission (NCC) has filed criminal charges against MTN Nigeria Communications Limited and four others over alleged copyright infringement.Read more

    9. Lagos govt arraigns medical doctors for alleged involuntary manslaughter

    The Lagos State government on Monday arraigned two medical doctors, Michael Atiba and Michael Ugbeye, at the State High Court, Ikeja, for alleged involuntary manslaughter.Read more

    10. OLYMPICS: Oshoala, Nnadozie, Ajibade in S’Falcons squad for S’Africa tie

    Super Falcons head coach Randy Waldrum has extended invitations to captain Rasheedat Ajibade, US-based Africa queen Asisat Oshoala and high-riding goalkeeper Chiamaka Nnadozie among a group of 22 players for the two-legged Paris Olympics final qualifying fixture against South Africa next month.Read more

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  • Port Harcourt Court Jails One for Currency Racketeering

    Port Harcourt Court Jails One for Currency Racketeering

    Port Harcourt Court Jails One for Currency Racketeering

    The Port Harcourt Zonal Command of the Economic and Financial Crimes Commission, EFCC, on Thursday, March 21, 2024 secured the conviction and sentencing of Azubuike Mamwu Obasi before Justice P. I. Ajoku of the Federal High Court sitting in Port Harcourt, Rivers State for currency racketeering.

    Obasi was jailed after pleading guilty to a four-count charge bordering on illegal acquisition of bank notes and carrying out banking services without an appropriate licence.

    One of the charges reads: “That you, Azubuike Manwu Obasi, on or about the 15th day of February, 2024, at Port Harcourt, within the jurisdiction of this Honourable Court, acquired and retained the cumulative sum of N554,600.00 (Five Hundred and Fifty-four Thousand, Six Hundred Naira) which you knew or reasonably ought to have known, forms part of your unlawful acts, selling or trading in Naira notes and carrying on banking business in Nigeria without a valid licence, and thereby committed an offence contrary to Section 18 (1) and (2) (d) of the Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under Section 18 (3) of the same Act.”

    He pleaded guilty to the charges when they were read to him.

    In view of the plea of the defendant, prosecuting counsel, E. K. Bakam prayed the court to convict and sentence him accordingly. Defence counsel, B. E. Onuoha, did not oppose the prayers of the prosecution but urged the court to temper justice with mercy maintaining that the defendant is a first time offender with no previous criminal records.

    Justice Ajoku thereafter found the defendant guilty as charged, sentenced him to six months in the Correctional Service on count one to four with N100,000( One Hundred Thousand Naira only) as an option of fine payable into the Consolidated Revenue Account of the Federal Republic of Nigeria. Sentence is to run concurrently with effect from the date of arrest.

    The court also made an order forfeiting to the Federal Government of Nigeria the sum of Five Hundred and Fifty Four Thousand, Six Hundred Naira (N554,600), Twenty Thousand Naira new bank notes and the POS device recovered from the convict.

    Additionally, the sum of Thirty Five Thousand Naira paid into the Access bank account of the convict by an EFCC covert operative was forfeited and returned to him. The convict should also depose an affidavit of good behavior.

    Obasi’s journey to the Correctional Centre began when he was arrested for currency racketeering by operatives of the EFCC. He was charged to court and convicted.

    Visit www.efcc.gov.ng for more stories


  • FEC Approves N50bn For Nigerian Youths, N60bn For SMEs

    FEC-meeting-presided-over-by-Bola-Tinubu-

    The Federal Executive Council (FEC) meeting presided over by President Bola Tinubu has approved the immediate release of N50bn aimed at empowering Nigerian youths and N60bn for small and medium enterprises (SMEs).

    Addressing journalists after the FEC meeting on Monday in Abuja, the Minister of Youths, Dr Jamila Ibrahim, disclosed that the council approved N25bn from the 2023 supplementary Appropriation Act and an additional N25bn from the 2024 Appropriation Act under provisions for the Youth Development Fund.

    This N50bn Youth Development Fund is expected to support young businesses and provide succour to youths across the country.

    FEC also approved the release of N60bn from the Central Bank of Nigeria (CBN) to support agricultural investments by SMEs.

    Ibrahim further revealed that FEC approved the institutionalisation of 10 percent youth quota for all government appointments as well as ensuring equitable representation of young women.

    This policy is aimed at encouraging youth participation in decision-making and civic engagement to drive national development.

    The minister’s words, “This will in turn lead to young people’s contributing tremendously to national development agenda.

    “I’m also pleased to announce the second council approval to restructure and institutionalise the Nigerian Youth Investment Fund.

    “This is a fund that was approved in 2020 and on assumption of Office of this administration, we commissioned a technical committee to review this fund and restructure it with the aim of institutionalising it through a legal framework, which will lead to the establishment of the Nigerian Youth Fund.

    “We have secured council approval for the immediate release of N25 billion from the 2023 supplementary Appropriation Act and an additional N25 billion from the 2024 Appropriation Act under the Youth Development Fund for Development provision in the budget.

    “We also received an additional approval from the council for a N60 billion release from the Central Bank of Nigeria through the agric. investment of small medium enterprises.”

    FEC Approves N50bn For Nigerian Youths, N60bn For SMEs is first published on The Whistler Newspaper

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  • FEC approves 2% quota appointments for youths

    FEC approves 2% quota appointments for youths

    Two initiatives aimed at fostering greater inclusion and development opportunities for the youth population have been approved by the Federal Executive Council. 

     

    These include restructuring of the Nigerian Youth Investment Fund (NYIF) with additional provision for it and institutionalization of a 2% youth quota in all government appointments and women representation of 30%.

     

    Addressing journalists after this week’s FEC meeting, Minister of Youth and Sports Development Dr Jemila Ibrahim-Bio said; 

     

    “I’m delighted to brief the gentleman and women of the press that we have received Council’s approval to institutionalise a 2% youth quota, a third percent representation of young people in all government appointments and an equitable young women representation inclusive of this 30%. 

    “This will go a long way in addressing the long marginalization and exclusion of young people in decision making, and will also go a long way to encourage young people to participate in decision-making processes and in civic engagements.”

     

    Jemila also revealed that the revamped Youth Investment Fund will receive an immediate infusion of ₦25 billion from the 2023 Supplementary Appropriation Act, complemented by an additional ₦25 billion from the 2024 Appropriation Act’s Digital Development Fund.

     

    The minister added; 

     

    “Secondly, the Nigerian Youth Investment Fund, initially established in 2020, has been restructured and institutionalized through a legal framework.

    “The fund, initially set at ₦75 billion, will now receive ₦25 billion from the 2023 Supplementary Appropriation Act and an additional ₦25 billion from the 2024 Appropriation Act. Additionally, ₦60 billion will be released from the Central Bank of Nigeria’s SME Investment Fund, focusing on agricultural investments.

    “These measures aim to support young businesses and stimulate economic growth”

    Source

  • CBN sells FX to BDCs at N1,251/$1

    The Central Bank of Nigeria (CBN) has sold $10,000 to all eligible Bureau De Change (BDC) operators in the country at the rate of N1,251/$1.

    In a circular issued by its Director of Trade and Exchange Department, Hassan Mahmud, and sent to the President of the Association of Bureau De Change Operators of Nigeria, Aminu Gwadabe on Monday, the apex bank said the BDCs are to sell to eligible end users at a spread of not more than 1.5% above the purchase price.

    Therefore, the BDCs are not allowed to sell above N1,269/$1.

    The CBN threatened to sanction any infraction by the BDC operators.

    The circular read: “We refer to our letter to you referenced TED/DIR/CON/GOM/001/071 in respect of the above subject wherein the CBN approved a second tranche of sale of FX to eligible BDCs.

    “We write to inform you of the sale of $10,000 to each BDC at the rate of N1,251/$1. The BDCs are to sell to eligible end users at a spread of NOT MORE THAN 1.5 percent above the purchase price.

    “Any BDC that breaches the above terms shall be sanctioned appropriately, including outright suspension from further participation in the sale.”

    By: Babajide Okeowo

    Source

  • Alleged N2.7b Fraud: Court Commences Trial May 30

    Alleged N2.7b Fraud: Court Commences Trial May 30

    Alleged N2.7b Fraud: Court Commences Trial May 30

    Justice O.O. Abike-Fadipe of the Special Offences Court sitting in Ikeja, Lagos has slated the commencement of trial of one Christopher Jackson Edeh for May 30, 2024.

    The Economic and Financial Crimes Commission, EFCC, on February 28, 2024 arraigned him before Justice Abike-Fadipe on nine- count charges bordering on fraudulent false accounting contrary to Section 337 of the Criminal Law of Lagos State, and unauthorised access to computer contrary to Section 387 of the Criminal Law of Lagos State.

    One of the charges reads: “That you Christopher Jackson Edeh, sometimes in September 2023 in Lagos within the jurisdiction of this Honourable Court, whilst in the employment of Fidelity Bank Plc, with intent to defraud, altered the customer account details of Dangote Cement Plc in possession of Fidelity Bank.”

    Another charge reads: “Christopher Jackson Edeh, sometimes in September 2023 in Lagos within the jurisdiction of this Honourable Court with intent to facilitate the stealing of the total sum of N2,737,784,800.00 (Two Billion, Seven Hundred and Thirty-seven Million, Seven Hundred and Eighty-four Thousand, Eight Hundred Naira) kept in custody of Fidelity Bank Plc, secured the unauthorised access to Entrust portal of Fidelity Bank Plc.”

    He was also alleged to have with intent to defraud altered the bank account details of the Kano State Government – Power Intervention Fund, NNPC Trading Limited, Stallion Vision Ltd, the Lagos State Government-Blue Line, State Contributory Pension Account, and Chukwuemeka Odumegwu Ujukwu University.

    He pleaded “not guilty” to the charges when they were read to him.

    Following his plea, counsel to the EFCC, Z.B. Atiku, informed the court that the prosecution was ready to prove its case against the defendant.

    However, the defence informed the court of the bail application of the defendant, prompting the court to adjourn till Tuesday, March 19, 2024 for hearing of the application.

    At the resumed hearing of the bail application, defence counsel, G.A. Daniel moved the bail application of his client and urged the court to grant bail as the offence was a bailable one.

    Ruling on the application, Justice Abike-Fadipe granted him bail in the sum of N5 million, with two sureties in like sum, one of whom must be a blood relation to the defendant.

    “The sureties shall depose to affidavit of means, must be gainfully employed and resident within jurisdiction of the court, must show evidence of tax payment for over the last three years to the Lagos State,” the trial judge added.

    Justice Abike-Fadipe thereafter adjourned the case till May 30 and June 6, 2024 for commencement of trial.

    Visit www.efcc.gov.ng for more stories