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$5.9bn Rail: S’East Alleges Exclusion, Senate Summons Amaechi

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Rail
  • $5.9bn Rail: S’East Alleges Exclusion, Senate Summons Amaechi

Leader of the South-East caucus in the Senate, Senator Enyinnaya Abaribe, has protested against the alleged exclusion of the eastern rail line from the ongoing rail projects by the Federal Government.

Abaribe, in his motion at the plenary on Tuesday, alleged that the South-East would not benefit from the projects for which the government was obtaining a loan of $5.851bn from China Exim Bank.

The motion was titled, ‘Outright Omission of Eastern Corridor Rail Line in the Request for Approval of Federal Government 2016-2017 External Borrowing (Rolling Plan)’.

The lawmaker, who is representing the Abia-South senatorial district, recalled that the Federal Government, on April 26, 2017, laid a request seeking an approval for the loan before the National Assembly to execute the modernisation of Lagos-Kano, Kano-Kaduna, Lagos-Ibadan and Lagos-Calabar rail segments.

Abaribe, however, said, “The Senate observes with dismay that the above sections of the rail line that the loan was being sought for covers only a section of the country i.e. the western corridor.

“The Senate notes that the eastern section of the rail segment, which has a link between the southeastern to northeastern parts of the rail line, is completely excluded from the request.

“The Senate further notes that the loan, being a Federal Government borrowing, would be repaid by all sections of the country; therefore, every section of the country should be taken into consideration.”

The lawmaker, in the prayers of the motion, urged the Senate to suspend consideration of the loan request until the correction of the omission of the eastern parts of the country.

He also called on the Senate to ‘invite the Minister of Transport to appear and explain the reasons for the exclusion of the eastern corridor of Nigeria’s rail lines from the proposed loan from China Exim Bank’.

Abaribe, however, withdrew the first prayer, while the second prayer was unanimously granted by the lawmakers.

Seconding the motion, the Deputy President of the Senate, Ike Ekweremadu, said the Senate belonged to all parts of the country and ‘the implication, therefore, is that any wrong done to any part of this country is a wrong to all of us’.

He said, “I am aware that the Federal Government is committed to rehabilitating and upgrading the railway infrastructure in Nigeria since (the days of President Olusegun) Obasanjo’s administration. Regrettably, from the inspection of that programme, the Federal Government has an attitude about the eastern line of this country – that the line is not profitable – and emphasis has not been placed in fixing that axis.”

But Senator Gbenga Ashafa (Lagos-East) faulted the motion as lacking adequate information.

He said, “I will say it is inadequate and I will also add that it is inaccurate in the sense that when the President Muhammadu Buhari-led government came in, the idea of providing rail infrastructure as approved initially – from Lagos to Calabar and Lagos to Kano – took into cognisance Aba and Onitsha.

“The Lagos-Kano and Calabar-Lagos railway project covers all the geopolitical zones, and I will show you how. On the Lagos-Calabar coastal space, you will find the rail cutting across the Obudu Cattle Ranch, Calabar, Uyo, Aba, Port Harcourt, Yenagoa, Otuoke, Ughelli, Sapele, Benin, Agbor, Asaba and Onitsha. Connecting Benin is Ijebu Ode, Ore, Shagamu and Lagos seaports. Until it is finished, you can deduce from this that two major states in the South-East where Senator Abaribe comes from have been covered. Until this is finished, you can’t see it on the ground.

“When we are making our points, don’t let us bring up ethnic sentiments.”

Meanwhile, a delegation of the Federal Government led by the Minister of Finance, Kemi Adeosun, met with the Senate Committee on Local and Foreign Debts after the plenary.

Also on the entourage was the Director-General, Budget Office, Mr Ben Akabueze; and the Director-General, Debt Management Office, Dr Abraham Nwankwo.

Adeosun told the committee that the execution of railway project was the responsibility of the Federal Ministry of Transportation. She urged the panel to seek clarifications from the ministry.

“Concerning the execution of railway projects, it lies with the Ministry of Transportation. Ours is to facilitate the loan,” she stated.

The minister added that plans on the Port Harcourt-Maiduguri rail line had been concluded and work would soon start on the project.

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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Netanyahu Stands Firm as US Halts Bomb Shipment Over Rafah Invasion Warning

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Amidst escalating tensions between Israel and the United States, Israeli Prime Minister Benjamin Netanyahu has adopted a defiant stance following the US decision to halt a shipment of bombs and warned against Israel’s potential invasion of the southern Gaza city of Rafah.

In a bold statement, Netanyahu declared, “If we have to stand alone, we will stand alone,” emphasizing Israel’s resolve to pursue its objectives despite opposition.

The Prime Minister’s comments, delivered via social media and a subsequent interview with American talk show host Dr. Phil, underscore Israel’s determination to address security threats posed by the Gaza Strip, particularly by Hamas militants operating in Rafah.

Netanyahu reiterated the necessity of military action in Rafah to eliminate the remaining Hamas battalions, condemned Hamas’s history of violence and reiterated Israel’s commitment to achieving victory and ensuring the safety of its citizens.

The US administration, led by President Joe Biden, expressed concerns over the potential humanitarian impact of an Israeli invasion of Rafah, prompting the decision to withhold additional offensive weapons shipments to Israel.

Biden’s statement echoed broader international apprehensions about the escalation of violence and civilian casualties in the conflict-stricken region.

However, Netanyahu remained resolute in Israel’s approach, asserting the country’s right to defend itself against security threats. He emphasized Israel’s efforts to minimize civilian casualties and facilitate the evacuation of civilians from Rafah before any military action.

Despite the US’s decision to pause the bomb shipment, Netanyahu affirmed Israel’s commitment to its longstanding alliance with the US. He acknowledged past disagreements between the two nations but expressed optimism about resolving current tensions through dialogue and cooperation.

In response, White House officials reiterated the US’s support for Israel’s security while urging restraint and emphasizing the need to avoid actions that could exacerbate the humanitarian crisis in Gaza.

The administration clarified that the decision to halt the bomb shipment was aimed at preventing potential civilian casualties in Rafah.

The confrontation between Israel and the US underscores the complexity of navigating regional conflicts and balancing strategic interests. As tensions persist, both nations face the challenge of reconciling their respective security imperatives with broader humanitarian concerns, seeking to avert further escalation while addressing the root causes of the conflict in the Middle East.

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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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