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Kenyan Court Backs President’s Vote Win, Ending Uncertainty

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Uhuru Kenyatta
  • Kenyan Court Backs President’s Vote Win, Ending Uncertainty

Kenya’s top court upheld Uhuru Kenyatta’s presidential win, ending three months of electoral uncertainty that have slowed growth in East Africa’s biggest economy. Stocks gained the most in two months.

Kenyatta won the rerun fairly and electoral authorities’ failure to hold polling in the country’s western region didn’t invalidate the outcome, the Supreme Court ruled Monday, rejecting all of the petitions challenging the vote.

“The court has unanimously determined that the petitions are not merited,” Chief Justice David Maraga told a packed courtroom in the capital, Nairobi. “The presidential election of Oct. 26 is hereby upheld.”

The ruling concluded a standoff that began with an Aug. 8 vote and has weighed on Kenya’s image as one of the continent’s top investment destinations and a regional hub for companies including Alphabet Inc. and Coca-Cola Co. The reaction from opposition leader Raila Odinga, who boycotted the October polls, will be crucial in the wake of protests against Kenyatta’s initial victories that human-rights groups say left as many as 80 people dead.

Shares on the Nairobi Securities Exchange rallied after the announcement, with the benchmark FTSE NSE Kenya 25 Index climbing 1.4 percent to the highest level since Sept. 22. The yield on Kenya’s $2 billion of Eurobonds due in June 2024 fell 0.2 percent to 6.03 percent by 11:17 a.m. in Nairobi, the lowest in almost three weeks. The shilling pared its 0.4 percent loss before the ruling to trade 0.2 percent weaker at 103.70 per dollar.

Unifying Mission

Kenyatta, who’ll be sworn in next week and form a new cabinet, now needs to unite a country that’s so politically divided that some are advocating independence for regions that support the opposition. The world’s largest shipper of black tea is also seeking to reinvigorate growth that’s forecast to slow to 5 percent from 5.8 percent last year and cut unemployment that affects more than a third of the workforce.

The Supreme Court’s judgment was the second on an electoral outcome this year, after it set an historic precedent for Africa by throwing out Kenyatta’s August victory. Electoral authorities had failed to disprove the opposition’s claim of vote-rigging, it said at the time.

Odinga urged supporters to boycott the rerun, saying reforms hadn’t been enacted to allow fair polling. Kenyatta won a landslide in that vote, in which just 38.8 percent of the electorate cast ballots, compared with 79 percent in the first round. The court petitions by a former lawmaker and two activists alleged the electoral body flouted the constitution by failing to hold fresh nominations.

‘Challenging Authority’

“More than 50 percent of registered voters didn’t participate in the election” rerun, said Nanjala Nyabola, a Nairobi-based independent political analyst. “That creates a grievance that won’t go away lightly and will give many people, not just the opposition, grounds for constantly challenging state authority over the next five years. That’s a problem for the whole country.”

A former prime minister who’s now failed in four presidential bids, Odinga vowed to lead a campaign of mass resistance after Kenyatta was initially declared the winner of the second vote. The 72-year-old, who’s blamed previous defeats on vote-rigging, has urged supporters to boycott companies his alliance says backs Kenyatta’s government, including Safaricom Ltd., the region’s biggest mobile operator. The company has denied any wrongdoing.

“We consider this government to be illegitimate and do not recognize it,” Salim Lone, an adviser to Odinga, said in an emailed statement. “This position has not been changed by the court ruling, which did not come as a surprise. It was a decision taken under duress.”

A dispute over the outcome of a 2007 election in Kenya triggered two months of ethnic violence that left more than 1,100 people dead.

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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Netanyahu

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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