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Trump Formally Unveils Bayo Ogunlesi as Strategic and Policy Forum Adviser

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  • Trump Formally Unveils Bayo Ogunlesi as Strategic and Policy Forum Adviser

U.S. President-elect Donald Trump yesterday formally unveiled Nigerian-born, U.S.-based Bayo Ogunlesi as a member of his Strategic and Policy Forum charged with advising the president on economic matters.

According to AFP, Trump’s Transition Team, in a statement yesterday, said the president-elect also announced three additional members to join the forum.

“Earlier this month, President-elect Trump established the President’s Strategic and Policy Forum and announced an initial round of 16 members.

“The Forum is composed of some of America’s most highly respected and successful business leaders.

“They will be called upon to meet with the president frequently to share their specific experience and knowledge as the president implements his economic agenda.

“The Forum will be chaired by Stephen A. Schwarzman, the Chairman, CEO, and Co-Founder of Blackstone.

“America has the most innovative and vibrant companies in the world, and the pioneering CEOs joining this Forum today are at the top of their fields,” the Trump team said.

According to Trump, “My administration is going to work together with the private sector to improve the business climate and make it attractive for firms to create new jobs across the United States from Silicon Valley to the heartland.”

Members of the Forum will provide their individual views to the president, informed by their unique vantage points in the private sector on how government policy impacts economic growth, job creation and productivity.

The Forum is designed to provide direct input to the president from many of the best and brightest in the business world in a frank, non-bureaucratic and non-partisan manner.

With yesterday’s announcement of three additional members, the individuals on the Forum now include: Adebayo “Bayo” Ogunlesi, Chairman and Managing Partner, Global Infrastructure Partners.

The others are Stephen A. Schwarzman (Forum Chairman), Chairman, CEO, and Co-Founder of Blackstone; Paul Atkins, CEO, Patomak Global Partners, LLC, former Commissioner for the Securities and Exchange Commission; and Mary Barra, Chairman and CEO, General Motors.

Toby Cosgrove, CEO, Cleveland Clinic; Jamie Dimon, Chairman and CEO, JPMorgan Chase & Co; Larry Fink, Chairman and CEO, BlackRock; Travis Kalanick, CEO and Co-founder, Uber Technologies.

Also in the Forum are Bob Iger, Chairman and CEO, The Walt Disney Company; Rich Lesser, President and CEO, Boston Consulting Group; Doug McMillon, President and CEO, Wal-Mart Stores, Inc.; Jim McNerney, former Chairman, President, and CEO, Boeing; Elon Musk, Chairman and CEO, SpaceX and Tesla; and Indra Nooyi, Chairman and CEO of PepsiCo.

The list also includes Ginni Rometty, Chairman, President, and CEO, IBM; Kevin Warsh, Shepard Family Distinguished Visiting Fellow in Economics, Hoover Institute, and former Member of the Board of Governors of the Federal Reserve System; and Mark Weinberger, Global Chairman and CEO, EY; Jack Welch, former Chairman and CEO, General Electric; and Daniel Yergin, Pulitzer Prize-winner, Vice Chairman of IHS Markit.

Through Global Infrastructure Partners, Ogunlesi has a majority stake in London Gatwick Airport. His company acquired the stake at the airport in 2009 in a £1.455 billion deal.

Global Infrastructure Partners is a joint venture whose initial investors included Credit Suisse and General Electric.

Ogunlesi is also an independent director of Goldman Sachs Group, Inc. He serves on the boards of Callaway Golf Co. and Kosmos Energy Ltd.

He is the chairman of Africa Finance Corporation, where the Nigerian government holds the majority state, and serves on the boards of various non-profits ranging from New York Presbyterian Hospital to the NAACP Legal Defense and Educational Fund, Inc.

Ogunlesi is from Sagamu, Ogun State. His father, Theophilus Ogunlesi, was Nigeria’s first professor of medicine.

He attended Kings College, Lagos, before proceeding to Oxford University, where he graduated with a First Class honours in Philosophy, Politics and Economics.

He also graduated from Harvard Law School in 1979 and later got an MBA from Harvard Business School.

Ogunlesi had a banking career with Credit Suisse First Boston (CSFB) from 1983 and rose to become its executive vice chairman.

During his stint at Credit Suisse, he advised clients on transactions and corporate finance in North and South America, the Caribbean, Europe, the Middle East, Africa and Asia.

Before joining Credit Suisse, Ogunlesi was an attorney in the corporate practice group of the New York law firm, Cravath, Swaine & Moore.

From 1980-81 he served as a law clerk to Associate Justice Thurgood Marshall of the United States Supreme Court.

He was a lecturer at Harvard Law School and the Yale School of Organisation and Management, where he taught a course on transnational investment projects in emerging countries.

Ogunlesi has served as an adviser, though informally, to Nigerian governments. He was an informal adviser to former President Olusegun Obasanjo on privatisation.

Despite having lived in the US for decades, he still maintains ties with his homeland.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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EFCC Declares Former Kogi Governor, Yahaya Bello, Wanted Over N80.2 Billion Money Laundering Allegations

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Yahaya Bello

The Economic and Financial Crimes Commission (EFCC) has escalated its pursuit of justice by declaring former Kogi State Governor, Yahaya Bello, wanted over alleged money laundering amounting to N80.2 billion.

In a first-of-its-kind action, the EFCC announced Bello’s wanted status in connection with the alleged embezzlement of funds during his tenure as governor.

The commission, armed with a 19-count criminal charge, accused Bello and his cohorts of conspiring to launder the hefty sum, which was purportedly diverted from state coffers for personal gain.

The declaration of Bello as a wanted fugitive came after a series of failed attempts by the EFCC to effect his arrest.

Despite an ex-parte order from Justice Emeka Nwite of the Federal High Court, Abuja, mandating the EFCC to apprehend and produce Bello in court for arraignment, the former governor managed to evade capture with the reported assistance of his successor, Governor Usman Ododo.

This latest development shows the challenges faced by law enforcement agencies in holding powerful individuals accountable for their actions.

However, it also demonstrates the unwavering commitment of the EFCC to uphold the rule of law and ensure that justice is served, irrespective of the status or influence of the accused.

In response to the EFCC’s declaration, the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, issued a stern warning to Bello, stating that fleeing from the law would not resolve the allegations against him.

Fagbemi urged Bello to honor the EFCC’s invitation and cooperate with the investigation process, saying it is important to uphold the rule of law and respect the authority of law enforcement agencies.

The EFCC’s pursuit of Bello underscores the agency’s mandate to combat corruption and financial crimes, sending a strong message that individuals implicated in corrupt practices will be held accountable for their actions.

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Concerns Mount Over Security as National Identity Card Issuance Shifts to Banks

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NIMC enrolment

Amidst the National Identity Management Commission’s (NIMC) recent announcement that the issuance of the proposed new national identity card will be facilitated through applicants’ respective banks, concerns are escalating regarding the security implications of involving financial institutions in the distribution process.

The federal government, in collaboration with the Central Bank of Nigeria (CBN) and the Nigeria Inter-bank Settlement System (NIBSS), introduced a new identity card with payment functionality, aimed at streamlining access to social and financial services.

However, the decision to utilize banks as distribution channels has sparked apprehension among industry stakeholders.

Mr. Kayode Adegoke, Head of Corporate Communications at NIMC, clarified that applicants would request the card by providing their National Identification Number (NIN) through various channels, including online portals, NIMC offices, or their respective banks.

Adegoke emphasized that the new National ID Card would serve as a single, multipurpose card, encompassing payment functionality, government services, and travel documentation.

Despite NIMC’s assurances, concerns have been raised regarding the necessity and security implications of introducing a new identity card system when an operational one already exists.

Chief Deolu Ogunbanjo, President of the National Association of Telecoms Subscribers, questioned the rationale behind the new General Multipurpose Card (GMPC), citing NIMC’s existing mandate to issue such cards under Act No. 23 of 2007.

Ogunbanjo highlighted the successful implementation of MobileID by NIMC, which has provided identity verification for over 15 million individuals.

He expressed apprehension about integrating the new ID card with existing MobileID systems and raised concerns about data privacy and unauthorized duplication of ID cards.

Moreover, stakeholders are seeking clarification on the responsibilities for card blocking, replacement, and delivery in case of loss or theft, given the involvement of multiple parties, including banks, in the issuance process.

The shift towards utilizing banks for identity card issuance raises fundamental questions about data security, privacy, and the integrity of the identification process.

With financial institutions playing a pivotal role in distributing sensitive government documents, there are valid concerns about potential vulnerabilities and risks associated with this approach.

As the debate surrounding the security implications of the new national identity card continues to intensify, stakeholders are calling for greater transparency, accountability, and collaboration between government agencies and financial institutions to address these concerns effectively.

The paramount importance of safeguarding citizens’ personal information and ensuring the integrity of the identity verification process cannot be overstated, especially in an era of increasing digital interconnectedness and heightened cybersecurity threats.

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Israeli President Declares Iran’s Actions a ‘Declaration of War’

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Israel Gaza

Israeli President Isaac Herzog has characterized the recent series of attacks from Iran as nothing short of a “declaration of war” against the State of Israel.

This proclamation comes amidst escalating tensions between the two nations, with Iran’s aggressive actions prompting serious concerns within Israel and the international community.

The sequence of events leading to Herzog’s grave assessment began with a barrage of 300 ballistic missiles and drones launched by Iran towards Israel over the weekend.

While the Israeli defense forces managed to intercept a significant portion of these projectiles, the sheer scale of the assault sent shockwaves through the region.

President Herzog’s assertion of war was underscored by Israel’s careful consideration of its response options and ongoing discussions with its global partners.

The gravity of the situation prompted the convening of the G7, where member nations reaffirmed their commitment to Israel’s security, recognizing the severity of Iran’s actions.

However, the United States, a key ally of Israel, took a nuanced stance. President Joe Biden conveyed to Israeli Prime Minister Benjamin Netanyahu that, given the limited casualties and damage resulting from the attacks, the US would not support retaliatory strikes against Iran.

This position, though strategic, reflects a delicate balancing act in maintaining stability in the volatile Middle East region.

Meanwhile, Russian Foreign Minister Sergei Lavrov and his Iranian counterpart Hossein Amir-Abdollahian cautioned against further escalation, emphasizing the potential for heightened tensions and provocative acts to exacerbate the situation.

In response to the escalating crisis, the Nigerian government issued a call for restraint, urging both Iran and Israel to prioritize peaceful resolution and diplomatic efforts to ease tensions.

This appeal reflects the broader international consensus on the need to prevent further escalation and mitigate the risk of a wider conflict in the Middle East.

As Israel grapples with the implications of Iran’s aggressive actions and weighs its response options, President Herzog reiterated Israel’s commitment to peace while emphasizing the need to defend its people.

Despite calls for restraint from global allies, Israel remains vigilant in safeguarding its security amidst the growing threat posed by Iran’s belligerent behavior.

The coming days are likely to be critical as Israel navigates the complexities of its response while international efforts intensify to defuse the escalating tensions between Iran and Israel.

The specter of war looms large, underscoring the urgency of diplomatic engagement and concerted efforts to prevent further escalation in the region.

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