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BBNaija Season Six Starts This Saturday, N90m Up For Grabs

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BBNaija Season Six Starts This Saturday, N90m Up For Grabs

The Big Brother Naija reality TV show, Season 6, will start on Saturday, July 24 with a whopping N90million winner takes all grand prize.

Organisers of the show announced this on Monday at a press conference in Lagos. Also in a post on Africa Magic’s official website, the organisers announced that the wait is over.

“The wait is finally over! Following the hugely successful Lockdown version of the show, Season 6 has been cooked, spiced, and will be served this coming Saturday.”

For its sixth season, BBNaija will feature a special double launch show on July 24 and 25 respectively.

Also, for the first time ever, fans in the United Kingdom will have access to the live 24/7 show via Showmax.

The organisers also disclosed that there will be no SMS voting for this season, adding that fans will now be able to vote for their favourite housemates for free on BBNaija’s official website and mobile app as well as on the MyDStv and MyGOtv apps.

This year’s edition of BBNaija will run for 72 days and end on October 3, 2021.

MultiChoice Nigeria had earlier in March announced N90 million as the grand prize for the winner of season six of the Big Brother Nigeria (BBNaija) reality TV show.

This makes it the highest grand prize a winner of the reality show will be receiving since the BBNaija debuted in 2006.

NAF Alpha Jet crashes in Zamfara, pilot rescued

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NAF Alpha Jet crashes in Zamfara, pilot rescued

 

On 18 July 2021, at about 12.45 pm, a Nigerian Air Force (NAF) Alpha Jet aircraft, returning from a successful air interdiction mission between the boundaries of Zamfara and Kaduna State, came under intense enemy fire which led to its crash in Zamfara State. Luckily, the gallant pilot of the aircraft, Flight Lieutenant Abayomi Dairo, successfully ejected from the aircraft. Using his survival instincts, the pilot, who came under intense ground fire from the bandits, was able to evade them and sought refuge in nearby settlements awaiting sunset. Using the cover of darkness and his phone set for navigation, Flight Lieutenant Dairo was able to elude several bandits’ strongholds and maneuvered his way to a Nigerian Army Unit, where he was finally rescued.

It is instructive to note that upon receipt of the news of the crash, the Chief of Air Staff, Air Marshal Oladayo Amao, had directed that all efforts must be emplaced to rescue the pilot. Accordingly, NAF Intelligence Surveillance Reconnaissance (ISR) platforms and helicopter gunships provided close air support to NAF Special Forces and Nigerian Army troops who were able to locate the crash site and the pilot’s parachute, while also combing nearby locations for any sign of the pilot. It is gladdening to note that while in hiding, Flight Lieutenant Dairo confirmed that the presence of NAF aircraft within the vicinity of the crash site helped in scaring the bandits who were after him, thus enabling him to find refuge and escape to a safe location.

It is important to also recall that only recently, the President, Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, President Muhammadu Buhari, GCFR, had directed the Armed Forces of Nigeria to do all it takes to flush out criminal elements in Katsina, Zamfara and Kaduna States. It is in fulfilment of this directive that the NAF, in conjunction with surface forces, has in the last 2 weeks mounted intensive day and night air interdiction operations against bandits and their hideouts, especially in these 3 states. Through these intensive air operations, hundreds of bandits have been neutralized and several of their hideouts destroyed.

Despite the setback of yesterday’s crash, the NAF remains committed towards fulfilling Mr President’s mandate as well as other constitutional roles assigned to it. The willingness, readiness and tested ability of the NAF remains unshaken and unwavering as it continues to carry out its assigned roles.

 

Buhari issues an order to seven governors in the northwest to put an end to banditry

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Buhari issues an order to seven governors in the northwest to put an end to banditry

Nigeria’s President, Muhammadu Buhari, has directed the seven governors of the country’s northwest to put machinery in place as soon as possible to put an end to banditry in the region.

Atiku Bagudu, the governor of Kebbi State, announced this on Sunday.

Bagudu, who is also the Chairman of the APC Governors’ Forum, made the announcement in Birnin-Kebbi as part of a Fulani Stakeholders’ Peace, Security, and Unity Meeting.

The president’s directive, according to the governor, was to ensure the immediate restoration of normalcy in the region.

He stated that the President was fully committed to adequately protecting the lives and property of all law-abiding and peaceful citizens.

Bagudu praised the military and other security agencies for their unwavering commitment to addressing the country’s security challenges.

Read also: Banditry: Arewa Group drums support for Army’s Operation Sahel Sanity

“They are a negligible few, and we should all brace the odds,” he said, urging Nigerians to be less fearful in confronting the enemies of peace and unity.

“Securing the nation’s security is a collective responsibility, and as such, all hands must be on deck in this direction.“

Bagudu also reaffirmed his earlier promise to lead the search for the Federal Government College (FGC) Birnin Yauri students and staff who had been kidnapped.

According to the Nigerian News Agency (NAN), suspected bandits stormed the Unity College on Thursday, June 17 and kidnapped a number of teachers and students.

However, about 11 of the abductees have been rescued so far by a military team.

“We were not elected solely to stay in office, but to do everything in our power to protect the lives and property of all law-abiding citizens,” the governor said.

“We must go to any length to ensure peace, unity, and security, even if it means sacrificing our lives, as religious scriptures demand.”

The Fulani stakeholders meeting, according to Bagudu, was convened to assess progress in addressing the challenges and to propose feasible solutions.

He stated that his government had established a steering committee to investigate grazing reserves, cattle routes, and lingering contentious issues between farmers and herders as a means of achieving long-term peace and security in the state.

“The government is fully aware of the issues raised, and it has already begun implementing some of the committee’s recommendations.

Read also: Banditry: DSS apprehends couple with large cache of ammunition in Katsina

“Regardless of the government’s efforts, the understanding and acceptance of those affected is required to have a positive impact on their lives,” he said.

He promised that his administration would leave no stone unturned in ensuring the safety and security of the state’s citizens.

Bagudu also pledged to continue his administration’s efforts to improve the lives of Fulanis by increasing livestock and dairy production, empowering Fulani women, and expanding other farming activities.

Former President Goodluck Jonathan states the use of technology, high-quality government to fight corruption

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Former President Goodluck Jonathan states the use of technology, high-quality government to fight corruption

Former President Goodluck Jonathan has stated that combating crime and corruption necessitates the use of technology as well as high-quality government programs.

Jonathan said it’s difficult to make a rule and expect it to solve problems, speaking at the 50th birthday celebration of former Minister of Aviation, Osita Chidoka.

On Saturday, Chidoka celebrated his 50th birthday with a national racing event, after which he chastised the National Assembly for refusing to accept electronic transmission of election results and advocated for more opportunities for young people in politics.

“The day you (Osita) were born was the day armed robbers were first shot in Nigeria, it speaks a lot,” the former president said at a reception for the former minister in Abuja. Quite unique. Fortunately, you are not an armed thief. However, the days of shooting armed robbers were over.

“Also, the crimes in society, such as armed robbery and other cases currently in the news, demonstrate that bullets alone are ineffective in stopping these and other criminal activities in humans.

“To stop armed robbery and all forms of crime, including the corruption that we discussed every day, it takes top-notch government programs, technology, and a lot of effort. Because it’s difficult to make a rule and believe it will solve all of the problems. In the same arena where you are killing armed robbers, others are robbing the pockets, and that is the kind of society we live in today.

“With the introduction of IT, which now rules the world, things are becoming more complicated.”

Read also:Community of Cross River accuses government agencies of neglect and land grab, and threatens legal action

He described Chidoka as a unique individual and a gift to the country and the state of Anambra.

He claimed he didn’t know Chidoka until he got into politics and moved to Abuja as vice president, taking over after his late boss, President Umaru Musa Yar’Adua, died.

“Osita has now invited us to come and celebrate his 50 years on this planet,” he said. He’s gotten things done. He rose to become the FRSC’s corps marshal, bringing with him a great deal of innovation, technology, and ingenuity. He has the ability to turn things around.”

VCs are looking for private-sector help in funding public universities

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VCs are looking for private-sector help in funding public universities

Professor Akpofure Rim-Rukeh, Vice-Chancellor of the Federal University of Petroleum Resources Effurun (FUPRE), has urged the private sector to assist tertiary institutions in raising funds for their development.

In an interview with journalists in Abuja ahead of the FUPRE’s planned education development roundtable, the Vice-Chancellor stated that government funding alone is insufficient to ensure adequate infrastructure and optimal performance of universities, particularly specialized ones.

Prof. Rim-Rukeh explained that universities’ educational sustainability and progress are threatened by their reliance on the federal government, which prevents them from achieving goals aimed at contributing to Nigeria’s economy.

“We are now saying that in order for the nation’s education to be sustainable, we must enlist the help of the private sector. A wide gap between industry and universities is also threatening the development and direction of universities,” he said.

He stated that in advanced societies, all university research is driven by industry, necessitating the need for synergy between the two.

Read also: Covid-19 Presidential Task Force has not received any money from private donors – Lai Mohammed

The roundtable, which is scheduled for July 27, 2021, will focus on improving institutional donations and endowment: a positive step toward advancement in technology and sustainable development in education, and will bring together industry experts and investors to help bridge the gap between universities and industry.

“The main goal of the FUPRE roundtable is to enlist the private sector’s support for the university’s development. One of our goals is to be able to look into all business possibilities for the commercialization of the university’s patent products. When we commercialize, both the investor and the university receive a percentage of the profits. The university’s intellectual property policy makes this clear.”

APC Young Stakeholders Forum in Kwara State urged the party’s national leadership to shut down the state’s factional party secretariat

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APC Young Stakeholders Forum in Kwara State urged the party’s national leadership to shut down the state’s factional party secretariat

Members of the All Progressives Congress (APC) Young Stakeholders Forum (CKAYS) in Kwara State have urged the party’s national leadership to shut down the state’s factional party secretariat.

AbdulRasheed Salaudeen, the group’s acting coordinator, made the call while speaking to reporters in Ilorin, the state capital, about the crisis engulfing the state’s chapter of the APC.

He predicted that the bill would bring the party together and force all members to remain loyal to the governor, who he described as “the party’s leader in the state.”

Read also: PDP Members Tell Secondus North-central Zone Presidency in 2023

He also asked the party’s national leadership to order Alh Bashir Bolarinwa, the party’s former state chairman, to return all party property to the secretariat.

Salaudeen urged the party’s national leadership to warn members not to incite or cause chaos in the state, stating that anyone found guilty should face consequences.

During a vote of confidence in Governor AbdulRahaman AbdulRazaq’s leadership, Salaudeen urged the governor not to be distracted by anyone while dispensing democratic and good governance dividends to the people of the state.

Community of Cross River accuses government agencies of neglect and land grab, and threatens legal action

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Community of Cross River accuses government agencies of neglect and land grab, and threatens legal action

The community of Ikot Effanga Mkpa in Cross River State’s Calabar Municipality Council has accused federal and state government agencies of neglect and land grabbing.

Members of the Ikot Effanga Mkpa Town Council, which serves as the host community for the Ministry of Niger Delta Affairs’ Niger Delta Development Commission (NDDC), expressed displeasure with the way the community had been treated and threatened to take action to rectify the situation.

Effanga Ineng Effanga, the town council leader, led a five-member team to allege that the Ministry of Niger Delta Affairs and the NDDC marginalized the community in the recently concluded employment, despite the fact that they were promised ten slots, and that not a single slot was allotted to the host community.

They also expressed dissatisfaction with the fact that the Cross River Basin Development Authority, the Federal Character Commission (FCC), the National Agency for the Prohibition of Trafficking in Persons (NAPTIP), and the Cross River State Dump Site were all within their jurisdiction but provided no benefit to them.

Read also: Cross River Police Commissioner dies of COVID-19

They threatened to halt the commissioning of the ministry’s secretariat, claiming that it was not adhering to the local content principle in terms of employment and non-implementation of pledges, despite the fact that its secretariat was located in the Ikot Effanga Mkpa town council.

They also claimed that the Basin Development Authority had failed to hire anyone from the community, despite the fact that the Town Council had approached the agency.

Attempts to reach officials at the agencies were unsuccessful, but a director at the Ministry of Niger Delta Affairs, who simply identified himself as Okorie, declined to comment on the matter, claiming that as a civil servant, he was unable to speak to the press.

They said the dumpsite, which is managed by the Calabar City Urban Development Authority (CUDA), has become a major source of ill-health for residents in the area because of the unhealthy ways and manner in which refuse is dumped in the area, which usually causes health hazards.

According to Effanga, the state Ministry of the Environment promised to recycle and generate wealth from the site, but nothing has happened so far.

They also accused the state government of land grabbing in the community, claiming that it seized parcels E1 and E2 in Ikot Effanga Mkpa without paying the town council compensation.

However, in response to some of the concerns, Christian Ita, Special Adviser to Governor Benedict Ayade on Media and Publicity, said that while development had not reached that point at the time the dumpsite was established, alternative locations for the dumpsite’s relocation were being considered in light of the current situation.

He denied that the government was grabbing land, claiming that the government has the authority to appropriate land for development purposes in the best interests of the state and its people.

N100 billion in FDI into the insurance sector benefits over 20 companies

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N100 billion in FDI into the insurance sector benefits over 20 companies

According to a Daily Independent investigation, over N100 billion in foreign direct investments into the insurance sector have benefited over 20 insurance firms in the last ten years.

Old Mutual, Sanlam, AIICO, Leadway Assurance, Mutual Benefits Assurance, Tangerine General Insurance Limited, Royal Exchange General Insurance Limited, NEM Insurance Plc., Tangerine Life, Prestige Assurance, Stanbic IBTC General Insurance Limited, and Prudential Life Assurance Limited are among these companies.

AXA Mansard, SUNU Group, and Saham are already active in the industry, collaborating with international partners who recognize the enormous potential for development and growth in the sector. Others are still in talks to secure additional funds to expand their capital bases.

The National Insurance Commission (NAICOM) increased the capital requirements for insurance and reinsurance companies from N2 billion to N8 billion for life insurers, N3 billion to N10 billion for general business underwriters, N18 billion for composite insurers, and N20 billion for reinsurance companies, with a one-year compliance deadline.

Read also: Printing of N60 billion by the Central Bank of Nigeria (CBN): PDP flayed the Minister of Finance

32 insurance companies are listed on the Exchange, with 14 specialist life insurance companies, 28 general insurance companies, 13 composite insurance companies, two takaful insurance companies, and two reinsurance companies.

FDI has been helping the Nigerian insurance industry raise capital and expand operations, with a focus on technology that requires a large investment.

The COVID-19 pandemic, according to analysts, highlighted the need for the insurance industry to be technologically driven from onboarding to claims resolution. Furthermore, most products in the Nigerian space, such as oil and gas, engineering, and even some life insurance policies, are denominated in dollars, necessitating FDI.

Although analysts were unable to obtain data on cash inflow as of the time of this report, the estimated value was stated to be at least N100 billion.

Read also: Constancy Financial institution proclaims board retirements and new appointments: Fidelity Bank

Our research shows that non-life insurance premiums increased significantly between 2000 and 2007, before declining at the end of 2007. It was noted that the decline in non-life insurance premiums in 2007 is partly explained by the financial crisis of the same year, which resulted in lower income and consumption.

Foreign direct investments have been steadily increasing since 2005, reaching a high point in 2007 before plummeting in 2010.

287 retirees will receive N1 billion in pension funds from LASG.

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287 retirees will receive N1 billion in pension funds from LASG.

287 Lagos State retirees have received N1 billion in their retirement savings accounts, according to the Lagos State Government (RSA).
The Director-General of the Lagos State Pension Commission, Babalola Obilana, revealed this at the 86th bond presentation ceremony in Lagos. He claimed that the gesture was in keeping with the government’s goal of providing assistance to retirees.

While reiterating the state government’s commitment to the welfare of its retirees, he stated that the contributory pension scheme would be implemented in accordance with the provisions of the state’s amended pension law.

Read also: Group hold a rally in support of Kanu, Igboho

The payments on the bond certificates, according to Obilana, were based on their previous service benefits prior to the start of the Contributory Pension Scheme in 2007.

He applauded the state government’s efforts to pay the contributory pension.

“The Babajide Sanwo-Olu administration’s efforts to make the contributory pension scheme a success cannot be overstated. “Continuous monthly payments have been prioritized by the state government to ensure retirees have access to their retirement bond benefits,” he said.

Despite N1.5 trillion in funding, power companies unable to meet demand

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Despite N1.5 trillion in funding, power companies unable to meet demand

In the last seven years, power companies, mostly private entities, may have received about N1.5 trillion in funds from the Central Bank of Nigeria (CBN), which has helped the sector stay afloat.

Experts and power users, on the other hand, are concerned that the situation has not improved, as electricity supply and related services continue to deteriorate.

In recent months, daily power generation has fluctuated between 3,500 and barely 4,000 megawatts (MW). According to the Transmission Company of Nigeria’s (TCN) daily record, the highest power generated was 4,823 megawatts (MW) on Saturday, while the lowest was 3,031MW. This translates to a maximum of 15 hours or less for customers who pay for a 20-hour supply, and even zero hours for those who pay for an eight-hour supply.

According to the CBN’s recently released fourth-quarter economic report 2020 (4Q’2020), while the repayment process for these power sector-centric loans is ongoing, the interventions were intended to speed up power projects, thereby improving the national power grid and end-user experience.

Read also: IPOB: The British Commission and a UK law firm are pursuing Nnamdi Kanu’s case

According to the report, the Power and Aviation Intervention Fund (PAIF) is worth about N300 billion, and the Nigerian Electricity Market Stabilisation Facility (NEMSF) is worth N213 billion, and it was established in 2015 to clear debts owed by power companies and improve operations.

The Rural Electrification Agency has a N140 billion Solar Connection Intervention Facility to improve off-grid electricity access (REA). The CBN also injected another N600 billion for tariff shortfalls and another N120 billion for the ongoing National Mass Metering Programme (NMMP) across the 11 distribution companies (DisCos).

Experts and analysts in the power sector have praised the CBN for its interventions, but they have chastised the power operators, particularly the DisCos, for the lack of improvement in power supply. Others blame the Nigerian Electricity Regulatory Commission (NERC) for regulatory failures, poor tariffs, and other seven-year-long electricity market crises.

The repayment of the loans has been set at 30% in the latest CBN fourth quarter report, and the apex bank has escrowed the DisCos’ accounts to enable it to recoup these loans.

While the CBN is not a sector regulator, analysts at Templars, an economic analysis and law firm, backed the move, stating that given the apex bank’s exposure to the sector through its various interventions, it was critical for the apex bank to influence policies that would address the general electricity market imbalance.

“Gas prices and other elements of the Capital Expenditure (CAPEX) for the power sector participants are dollar-denominated,” the legal firm’s Partner, Dayo Okusami, and Senior Associate, Moses Pila, wrote in a document. There is a perpetual mismatch between revenue earnings and CAPEX inputs with electricity tariffs in Naira.”

They explained that while the exchange rate in the tariff is usually fixed, fluctuations in the general foreign exchange market make it difficult for players to obtain foreign exchange at the tariff-template rate, which is the main cause of the cash crunch in the electricity market.

Read also: Banditry: Nigerian military neutralize scores of bandits in coordinated air strikes in Northwest Nigeria

Although the Central Bank of Nigeria (CBN) provided N702 billion in capital to the Nigerian Bulk Electricity Trading Plc (NBET) in 2018 to save the Generation Companies (GenCos) from going bankrupt because they couldn’t pay for gas, Templars officials say the current situation will necessitate a repeat of that intervention.

“As a result, the GenCos will be able to meet their payment obligations to their gas suppliers. To address the challenges, the CBN may decide to grant the power sector a special foreign exchange dispensation.

“Collection leakages at the DisCo level are another area where the CBN could have an active role. Even if NBET is unable to exert the required influence on the DisCos’ remittance levels, the CBN can act through its banking sector influence.”

Habeeb Jaiyeola, an economist with PricewaterhouseCoopers (PWC), insisted that the CBN intervention remains a positive tool for improving the power sector when asked about the options for saving the ailing power sector. He did say, however, that there should be more aggressive strategies in place to ensure prompt repayment by operators so that the CBN can intervene in other areas of the economy.

Although the operators had not delivered the service improvement to consumers, Kunle Kola Olubiyo, President of the Nigerian Consumer Protection Network (NCPN), said support from the CBN could help cushion the current liquidity crisis.

Olubiyo, on the other hand, believes that the power sector’s intervention schemes should be reviewed across the entire value chain in order to achieve better results in terms of improving electricity supply.

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