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Nigeria spent over $1bn on weaponry to recover territories from Boko Haram – Buhari

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President Muhammadu Buhari says his administration spent over $1 billion on equipment needed to recover territories in the North-East taken by Boko Haram.

“When I assumed power in 2015, Boko Haram held about two thirds of Borno State, half of Yobe State, and a couple of Local Government Areas in Adamawa State, all in the North-East of Nigeria,” the President said on Tuesday during an address at the African Conference for Peace 2023 in Mauritania.

“We have been able to retrieve these swathes of territories by investing over a $1 billion dollars to acquire hard and soft ware weaponry from the US and other friendly countries to carry out sustained operations against insurgency since 2015.”

President Muhammadu Buhari receives the Abu Dhabi Peace Forum with “Award for Strengthening Peace in Africa” at the African Conference for Peace 2023 in Mauritania on January 17th, 2023.

According to a statement by his Special Adviser on Media and Publicity, Femi Adesina, the President also noted that Nigeria continues to engage bilaterally and multilaterally to comprehensively win the war against the insurgency and other related terror groups through kinetic and non-kinetic approaches.

Buhari, who was honoured by the Abu Dhabi Peace Forum with ‘Award for Strengthening Peace in Africa’, stated that Nigeria and other regional bodies in Africa and the rest of the world are working assiduously to deal with existential threats to the very existence of humanity.

“Our Armed Forces and those of our partners in the Multinational Joint Task Force (consisting of Chad, Niger, Cameroon, Benin Republic and Nigeria) continue to demonstrate great bravery while paying the ultimate price in securing our collective freedom.

“Despite the difficult times we face, we continue to spend very scarce and lean resources to ensure that we have a well-resourced military force to take on this task.

“Ideally, these are resources that could be spent on Education, Healthcare, infrastructure and other social services, but without peace, we have learnt the hard way that our children cannot go to school or seek good healthcare,” the President stated.

Below is the full statement:

PRESIDENT BUHARI RECEIVES AWARD FOR PEACE IN AFRICA, LISTS CONDITIONS FOR FUTURE HARMONY

President Muhammadu Buhari Tuesday in Nouakchott, Islamic Republic of Mauritania, urged leaders to place a premium on youth development, with more seriousness and actionable ideas in promoting skills acquisitions, while discouraging idleness.

Speaking at the African Conference for Peace, 2023, the President said idleness of youths and non-inclusion in discussing issues that shape their lives and the future portends liability for the continent, especially in religious fundamentalism and extremism.

The President, who was honoured by the Abu Dhabi Peace Forum with “Award for Strengthening Peace in Africa”, said there was a need to inculcate values and principles of tolerance and peace in educational institutions, and particularly, among the youths.

“African leaders and decision makers should ensure that democratic principles and good governance form the basis for management of affairs in every country in Africa, noting that peace, security and good governance are inseparable.

“There is need also for African stakeholders, that is, the government, private sector and the Civil Society Organisations, to make concerted efforts to support existing mechanisms and initiatives to build strong and virile institutions that effectively support good governance which, inter alia, lead to the development and progress of our countries and continent.

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“African leaders must reaffirm their commitment by demonstrating political will required for ownership of African Peace and Security Architecture and in the implementation of African Governance Architecture.

“We must also adjust the effectiveness of the early warning system and conflict prevention and adopt policies aimed at resolving the crisis of de-radicalisation through continuous dialogues and negotiations,’’ he said.

President Buhari noted that efforts must be concretized towards the curtailment and possible prevention of the circulation of Small Arms and Light Weapons, as well as the festering of the foreign fighters into the African continent.

The President called for the imperatives of the next Summit of the African Union to take a holistic review of the challenges that continue to fester in Libya with the hope of finding pragmatic African approach to resolving the over a decade-old instability in Libya that had made that country a safe-haven for all kinds of weapons and foreign fighters whose profound impacts stare all in the sub-regions and Africa.

“Your Excellencies, Distinguished Ladies & Gentlemen, global terrorism, banditry and other trans-national crimes continue to pose enormous challenges not only to Africa but to global peace and security. These phenomena have become perennial threats to sustained economic development and growth.

“Nigeria and other regional bodies in Africa and the rest of the world are working assiduously to deal with these existential threats to the very existence of humanity. For us in Nigeria, we continue to engage bilaterally and multilaterally to comprehensively win the war against the Boko Haram insurgency and other related terror groups through kinetic and non-kinetic approaches.

“When I assumed power in 2015, Boko Haram held about two thirds of Borno State, half of Yobe State, and a couple of Local Government Areas in Adamawa State, all in the North-East of Nigeria. We have been able to retrieve these swathes of territories by investing over a $1 billion dollars to acquire hard and soft ware weaponry from the US and other friendly countries to carry out sustained operations against insurgency since 2015.

“Our Armed Forces and those of our partners in the Multinational Joint Task Force (consisting of Chad, Niger, Cameroon, Benin Republic and Nigeria) continue to demonstrate great bravery while paying the ultimate price in securing our collective freedom. Despite the difficult times we face, we continue to spend very scarce and lean resources to ensure that we have a well-resourced military force to take on this task. Ideally, these are resources that could be spent on Education, Healthcare, infrastructure and other social services, but without peace, we have learnt the hard way that our children cannot go to school or seek good healthcare,” the President stated.

President Buhari told the assembly of African leaders that the shrinking of Lake Chad had resulted in dire consequences of the people of the region losing their traditional source of living which culminated into the youths being recruited by the terrorist groups who were seeking for means of livelihood occasioned by difficult economic conditions.

He explained that the scenario created serious instability and served as a litmus test for member countries of the Lake Chad Basin Commission (LCBC) in devising means to restore the livelihoods within the region.

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“As a corollary to containing this development, the Lake Chad Basin Commission (LCBC) has begun implementing programmes to safeguard the ecosystem of the basin, including seeking global support to return the lake to an economic hub it was known for in the past.

“Although, we are winning the war, however, as a country and sub-region, we continue to be negatively impacted by events in Libya, Central Africa Republic, The Sahel and the war in Ukraine. Our region, is awash with all sorts of small and light weapons that continue to be freely in circulation, orchestrated by the impact of foreign fighters.

“We must therefore, support peace initiatives to bring political stability in crisis ridden areas such as Libya, Central African Republic and other parts of the Sahel region in order to discourage the spread of insurgency, other criminal groups, as well as arms and foreign fighters in these locations and continent-wide,” he stated.

President Buhari noted that it was imperative for the African countries, through the African Union, to renew initiatives for finding African Solutions to the challenges of Libya that have continued to remain very volatile and unstable, hoisting not only lack of peace and stability in that country, but development in the Sahel, Central and West Africa as well as the Lake Chad Regions.

“Too many external interests have pestered on the challenges of Libya for too long and regrettably compounded the search for sustainable resolution. This has left our sub-regions far more fragile and safe haven to all negative influences to regenerate which have ultimately remained threats to peace, stability, development and progress of our regions and the rest of Africa.

“It is my hope that the next African Union Summit next month, would revisit this matter, in a comprehensive and pragmatic manner, to free our regions and continent, the cycles of violence, instability, lack of development and progress in the sub-regions of Africa that are well-endowed with resources that can easily sustain not only the continent, but most of the world.

“It is my hope that President Macky Sall, as President of the African Union, would take up this challenge at the continent’s next Summit, to refocus our attention, to finding indigenous sustainable solutions to Libya as indeed the entire Peace and Stability Architecture of our continent.

“To conclude my address, I wish to align myself with the Declarations reached at the two previous series of the Conference,” he said.

President Buhari thanked the Abu Dhabi Forum for Peace under the tutelage and sterling leadership of Shaykh Abdallah Bin Bayyah, for the honour of nominating him as the recipient of the “African Award for Strengthening the Peace”.

“It is indeed a recognition that speaks volume to the ultimate goal of collective efforts by African leaders to engender peace and stability as prerequisites for development in our continent.

“This event is taking place amidst growing armed conflicts, exacerbated by extremists’ ideology rooted in misinterpretation of religious precepts, and of course widespread deprivations of the citizens of Africa and other parts of the world.

“These sad developments have, for many decades, become worrisome that they preoccupy all governments and well-meaning organizations, as well as individuals in Sub-Saharan Africa and beyond.

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“Realizing the danger posed by the growing insecurity to the progress African countries have achieved in their political and socio-economic advancement since gaining independence from their colonial masters, it is commendable that the Government of Mauritania, in collaboration with the Abu Dhabi Forum for Peace, launched the First edition of the Conference in 2020, where the inaugural Conference deliberated on: “The Role of Islam in Africa: Tolerance and Moderation Against Extremism and Sectarianism”.

“The theme of the Third edition of Peace Conference: “Enter all in Peace” still corroborates the lingering scourge of insecurity, with linkages within and outside of the region, thereby necessitating the imperative for continued concerted engagements with governments and international partners towards its amelioration, if not outright eradication,” the President told the leaders.

President Buhari paid tribute to the relentless drive and courage of His Excellency Sheikh Abdallah Bin Bayyah, for his initiative to promote peace through the process of combating extremists’ ideas that incubate violence in societies.

“Your scholarly teachings should be given due dissemination to counter the terrorists’ narrative misrepresenting Islamic thoughts,” he said.

President Buhari stated that it was his strong belief that if leaders were able to re-commit themselves in the right directions with our strong political will, Africa would be the better for it.

President Buhari appreciated President El-Ghazouni and the Government and people of Mauritania for hosting the peace conference.

In his remarks, President of the Forum for Promoting Peace in Muslim Societies, Shaykh Abdallah Bin Bayyah, said the 2023 conference theme was based on the recommendations of the “Nouakchott Declaration” that emerged from the inaugural conference.

The declaration, which aims to deconstruct the religious basis of extremist speeches and to limit violence based on religious arguments, was enshrined as a reference document in the African Vision for Peace at the 33rd Summit of Heads of State of the African Union.

Bin Bayyah said the 2023 conference aims to strengthen the implementation of the Nouakchott Declaration and grow its popularization.

“We want to raise awareness among African elites, spiritual elites and the youth, of the absolute priority that must be given to peace, and the need to implement concrete actions to promote and entrench it,” Bin Bayyah noted. “The promotion of peace is the only possible way to guarantee access to prosperity and economic and social development.”

He said that women would be specifically included during the three days of reflection, debate and development of concrete peace building initiatives.

Welcoming African leaders and scholars to the peace conference, the President of Mauritania congratulated President Buhari for being singled out for the award, among other African leaders.

He said the award was given to President Buhari for providing good leadership and promoting peace in a multi-ethnic, multicultural and multi-linguistic country like Nigeria, and extending his experience and wisdom to other African countries.

The African Conference for Peace 2023 aims to strengthen the implementation of 2022 Nouakchott Declaration by continuing to address the issues of conflict, misused concepts of Jihad, illegal immigration, girls’ education, and promotion of peace and development.

Femi Adesina
Special Adviser to the President
(Media & Publicity)
January 17, 2023

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Biggest mess created in 2023 was devaluation of naira – Dangote 

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Aliko Dangote, chairman of Dangote Industries Limited, says the devaluation of naira created the biggest mess for the company in 2023.

 

Dangote spoke on Tuesday during the annual general meeting of Dangote Sugar Refinery Plc.

 

According to Dangote, the company is putting in efforts to ensure it pays dividends this year.

 

He said a lot of companies, especially in food and beverages businesses, were also affected and will be unable to pay dividends.

 

“We are doing whatever it takes to make sure that at the end of the day, we will be paying dividends because if you look at our dividends last year, it was almost 50 percent more so we will try and get out of the mess,” Dangote said.

 

“The biggest mess created was actually the devaluation of the naira from N460 to N1,400.

 

“You can see almost 97 percent of the companies, especially in food and beverages businesses, none of them will pay dividends this year for sure but, we will try and get out of it as soon as possible.

“We want to see that at the end of the day, no matter how small, we will be able to pay some dividends, especially if there is a rebound of the naira.”

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‘WE’LL REAPPLY FOR MERGER OF DANGOTE SUGAR WITH NASCON’

Speaking on the suspension of the planned merger of Dangote Sugar Refinery with Nascon Allied Industries Plc and Dangote Rice Limited, the chairman said it was put on hold because the Securities and Exchange Commission (SEC) wanted the rice factory to begin.

 

Dangote said the rice factory in Jigawa is expected to be commissioned soon, adding that Dangote Sugar will reapply for the merger when the time is right.

On April 19, Nascon announced the suspension of its proposed merger with Dangote Sugar.

 

Nascon said the merger was not completed due to the current non-operational status of Dangote Rice.

 

DANGOTE SUGAR TO END SUGAR IMPORTATION IN 2028

Dangote said the company’s sugar master plan will enable the producer to sell only locally produced sugar in the next four years.

 

According to the chairman, the implementation of the backward integration policy will give the company the best future in terms of stability and prevent issues relating to exchange rate losses.

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“The sugar master plan we are now taking is very, very serious,” he said.

 

“But to say the least, the industry as a whole, did not really push as we are supposed to push in terms of the backward integration.

 

“We have done a lot, but we also have our fears because if there is no proper implementation, we do not want to go and sink a lot of your money and we end up losing money because if government is not following or making sure that everybody behaves, then we will not be able to make money. But right now, I think they have called us.

 

“We have sat down and I can assure you on our own, we think the best future of this company is through the backward integration.

 

“Because backward integration will actually give you much more forfeit and stability and it will erase all these exchange rate losses.

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“So, by the grace of God, in the next four years maximum, our company should be producing what we are selling currently, all domestic, 100 percent domestic.”

 

However, Dangote said if any sugar is imported by the company, it will only be to complement what it is producing.

 

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 Living wage will be announced soon — your days of worrying are over, Tinubu tells Nigerian workers

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President Bola Tinubu says he is open to the idea of a “living wage” for Nigerian workers.

 

In a message to mark International Workers Day celebration at the Eagle Square, Tinubu, who was represented at the event by Vice-President Kashim Shettima, hailed Nigerian workers for their fidelity to the peace, progress, and development of the nation.

 

He also said the tripartite committee on a new minimum wage was yet to reach a resolution before May Day.

 

“You would recall that on January 30th, 2024, the Federal Government convened a 37-member Tripartite Committee on Minimum Wage,” the president said.

 

“The committee’s mandate was to provide counsel and suggest a national minimum wage that aligns with our current economic conditions.

 

“Since then, the committee, in collaboration with labour leaders, has been diligently working towards proposing a new National Minimum Wage.

 

“Unfortunately, despite concerted efforts, the committee was unable to reach a consensus at its last meeting. This shall be resolved soon and I assure you that your days of worrying are over.”

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Organised labour has insisted on a new living wage for workers. In his address, Tinubu said he is open to the idea of a living wage, as opposed to a minimum wage.

 

“Indeed, this government is open to the committee’s suggestion of not just a minimum wage but a living wage,” the president added.

 

The president also asked workers to trust his administration.

 

“Great Nigerian Workers, we cannot achieve a just and equitable society that caters to the needs of every member, including the strong and the weak, without fostering peace and unity,” he said.

 

“Our shared vision for national growth and development can only be realised in an atmosphere of industrial harmony and peaceful coexistence in every segment of our country.

 

“Dividends we have promised the nation, and which you work tirelessly to ensure, can only be achieved when we all unite for progress.

 

“On this momentous day, I urge you and all our fellow citizens to place your trust in this administration. The seeds of greatness planted in our nation are beginning to bear fruit, and they promise a future filled with hope and bound by prosperity.

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“Let me assure you, with the utmost sincerity, that every initiative undertaken by this administration is geared towards transforming Nigeria into a nation that can truly provide for its people.

 

“So, I call upon each and every one of you, as I have consistently done, to join hands in shaping the destiny of our nation towards greatness.

 

“Our allegiance and patriotism are the bedrock upon which our beloved country thrives. The success of our government’s policies and programmes hinges on the willingness of the workers, as the backbone of our workforce, to embrace them wholeheartedly.

 

“I appeal to you to continue using the power of the labour movement for the greater good of our nation, fostering harmony and cooperation.

“Once more, I extend my heartfelt congratulations on this successful Workers’ Day celebration, and I wish you all joyous festivities.”

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Binance founder sentenced to four months in prison for money laundering in US

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Changpeng Zhao, the founder of Binance, has been sentenced to four months in prison for money laundering, unlicensed money transmitting and violations in Seattle, United States (US).

At a sentencing hearing on Tuesday, Richard Jones, the presiding judge, said Zhao put “Binance’s growth and profits over compliance with US laws and regulations”.

According to US officials, Zhao intentionally turned a blind eye to transactions that financed terrorism, the illegal drug trade, and child sex abuse.

“I failed here. I deeply regret my failure, and I am sorry,” Zhao told the court.

 

“I believe the first step of taking responsibility is to fully recognise the mistakes. Here I failed to implement an adequate anti-money-laundering programme. I realise now the seriousness of that mistake.”

 

The four-month sentence is lower than the three years prosecutors sought.

Prosecutors told the judge a tough sentence would send a clear signal to other would-be criminals.

“We are not suggesting that Mr. Zhao is Sam Bankman-Fried or that he is a monster,” Kevin Mosley, one of the prosecutors, said.

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“But Zhao’s conduct wasn’t a mistake. This wasn’t a regulatory ‘oops.”

 

On November 21, 2023, Zhao pleaded guilty to money laundering.

 

Binance also agreed to pay more than $4 billion in fines and other penalties.

 

Meanwhile, Binance subsidiary in Nigeria is facing charges for illicit foreign exchange (FX) transactions.

Nadeem Anjarwalla, Binance’s regional manager for Africa, and Tigran Gambaryan, its head of financial crime compliance, were charged with tax evasion and money laundering by the federal government.

The duo were arrested and detained on February 28.

However, Anjarwalla escaped custody in March.

 

Zhao’s sentence is coming less than one month after Sam Bankman-Fried, former CEO and founder of Futures Exchange (FTX), was sentenced to 25 years in prison after being convicted of defrauding his customers, investors, and lenders.

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