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NPower News: FG Partners CBN To Finance Over 75,000 N-Power Beneficiaries

CBN to financially empower 75,600 exited Npower beneficiaries of Batch A and B

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About 75,600 beneficiaries under batch A and B of the NPower scheme will be financially empowered by the Central Bank of Nigeria (CBN) to establish their various businesses.

The Federal Government is in collaboration with the CBN to provide loans to the beneficiaries at the end of their NPower Exit (NEXIT) training which is expected to be held across various states in the country from 14th-18th March 2022.

The NEXIT training is an exited strategy for the transition of Npower beneficiaries at the end of their duration in the Npower programme. NEXIT (N-EXIT) Loan was initiated by the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development in collaboration with the Central Bank of Nigeria to provide soft Loan amounts between N250,000 to N3million to enable the exited beneficiaries to proceed in a business enterprise after a compulsory NEXIT Loan Training at the end of the Npower programme.

Among other things, the NEXIT programme is expected to create a platform for Nigerian owned financial services companies to grow whilst empowering and creating job opportunities for Nigerian youths.

Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajia Sadiya Farouq, who spoke at the inauguration of the NEXIT-CBN Agri-Business, Small and Medium Enterprises Scheme (AGSMEIS) in Abuja, noted that the 75, 600 beneficiaries of the financial empowerment are the first batch of the N-Power, out of 467,183 who applied for the training.

Farouq, who was represented by the Permanent Secretary in the ministry, Mr Bashir Alkali, stated that the N-Power programme is a critical part of the National Social Investment Programmes domiciled in the ministry, adding that the initiative was designed to achieve the national objectives of poverty reduction and job creation in the country.

“The N-Power programme is keys to helping young Nigerians acquire and develop life-long skills that ensure they become solution providers and entrepreneurs in their communities.

“Recently, more segments have been embedded into the N-Power programme such as the N-Skills, which is for youth with no formal education who will be trained in different vocational skills and trades. The Mobile Money Agents, which are for financial inclusion of this youth segment is another great feat in the programme”, the minister noted.

Investors King had earlier reported that the ministry collaborated with Entrepreneurship Development Institutes (EDI) for the conduct of the NEXIT Loan Training across States of the Federation.

The N-Power scheme, one of the Social Investment Programmes (SIP) of the Muhammadu Buhari administration involves the temporary recruitment of unemployed graduates between the ages of 18 and 35 in various sectors including education, agric, among others.

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Sport Business

Usyk Claims Victory Over Fury in Historic Bout, Becomes Undisputed Heavyweight Champion

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Oleksandr Usyk emerged victorious over Tyson Fury to claim the title of undisputed heavyweight champion.

The highly anticipated bout, held in Riyadh, Saudi Arabia, showcased the remarkable skill and determination of both fighters, culminating in a split-decision victory for Usyk.

From the opening bell, the tension was palpable as Fury, the reigning WBC champion, and Usyk, the unified cruiserweight champion, squared off in the ring.

Fury, known for his towering stature and formidable punching power, sought to impose his will early on, using his reach advantage to keep Usyk at bay.

However, Usyk, undeterred by the size disparity, showcased his superior footwork and technical prowess, darting in and out of Fury’s range to land precise counterpunches.

As the rounds progressed, the momentum shifted back and forth between the two fighters, with each landing significant blows and demonstrating their resilience in the face of adversity.

Fury’s powerful punches tested Usyk’s chin, while Usyk’s speed and agility kept Fury on the defensive.

In the pivotal moments of the fight, Usyk delivered a masterful performance in the later rounds, capitalizing on Fury’s fatigue to unleash a barrage of punches that rocked the defending champion.

Despite Fury’s valiant efforts to rally back, Usyk’s relentless pressure and pinpoint accuracy earned him the judges’ favor, securing a split-decision victory and etching his name in the annals of boxing history.

With this triumph, Usyk joins the ranks of legendary heavyweight champions, becoming the first undisputed heavyweight champion since Lennox Lewis more than two decades ago.

His victory not only cements his status as one of the sport’s elite athletes but also signals a new era in the heavyweight division, characterized by fierce competition and unparalleled skill.

As the boxing world reels from the electrifying showdown, fans and pundits alike eagerly await the prospect of a rematch between Usyk and Fury. With both fighters showcasing their championship pedigree, the stage is set for another epic clash that promises to captivate audiences worldwide.

In the aftermath of his victory, Usyk expressed gratitude to his team, his country, and his faith, attributing his success to hard work and dedication.

Meanwhile, Fury, while disappointed with the outcome, vowed to bounce back stronger and reclaim his title in the anticipated rematch.

As the boxing world celebrates Usyk’s historic achievement, his victory serves as a testament to the enduring spirit of sportsmanship and the unyielding pursuit of excellence in the noble art of boxing.

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Education

JAMB Releases 36,540 Withheld UTME Results, Dismisses Cyber Breach Claims

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The Joint Admission and Matriculation Board (JAMB) has quelled concerns over the integrity of the Unified Tertiary Matriculation Examination (UTME) results by releasing an additional 36,540 previously withheld scores.

This move follows earlier revelations of withheld results and assertions of a cyber security breach.

Fabian Benjamin, the spokesperson for JAMB, confirmed the release of these results in a statement issued late Tuesday in Abuja.

This latest batch of released scores, when combined with the 531 previously unveiled, brings the total number of results made public to 1,879,437.

Benjamin took the opportunity to address circulating rumors regarding the security of the UTME results.

He categorically dismissed claims of a cyber security breach, saying that the examination outcomes remain intact and securely stored.

He stressed that the results are not stored in any cloud system and thus cannot be compromised by external entities.

At the time of the UTME release, JAMB had disclosed that certain results were withheld pending further investigation.

Subsequently, 531 of these results were recently unveiled with the remainder still under scrutiny.

Benjamin explained that any candidates implicated in examination malpractice are undergoing thorough investigation.

The examination board intends to meticulously review footage from CCTV cameras installed across all accredited centers to ascertain each candidate’s involvement.

Benjamin urged the public to remain vigilant against misinformation originating from sources not affiliated with JAMB.

He attributed the discrepancies in minimum admissible scores to variations among tertiary institutions. Some institutions, he noted, proposed lower minimum scores than others, resulting in varying benchmarks.

Benjamin clarified that these benchmarks are determined collectively by all Heads of Institutions during the annual Policy Meeting on Admissions, ensuring uniformity across the country.

Also, Benjamin cautioned religious organizations against overstepping their designated roles.

He warned against the dissemination of false information to governmental bodies for personal gain.

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Travel

British Airways Owner IAG Prepares for Summer Surge Amid High Travel Demand

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As the world gradually emerges from the grip of the pandemic, the travel industry is witnessing a resurgence in demand with British Airways owner IAG SA gearing up for a busy summer season.

Despite lingering challenges, the airline conglomerate remains optimistic about the outlook, citing strong demand for travel within Europe and across the Atlantic.

In a recent stock exchange filing, IAG disclosed an adjusted operating profit of €68 million ($73.3 million) for the three months ending March.

According to Chief Executive Officer Luis Gallego, the group’s core markets, including the North Atlantic, South Atlantic, and intra-Europe routes, have shown robust performance, positioning them well for the upcoming peak travel period.

With vaccination rates increasing and travel restrictions easing in many parts of the world, consumers are eager to resume travel plans, fueling the surge in demand.

However, the road ahead is not without its challenges. While travel within Europe and across the Atlantic remains strong, other regions present a more complex operating environment.

The ongoing conflict in the Middle East has dampened demand for certain destinations, while airspace restrictions resulting from geopolitical tensions, such as the Russian invasion of Ukraine, have disrupted flight routes to East Asia.

Despite these hurdles, IAG remains resilient, banking on the strength of its core markets and the performance of its brands to weather the storm.

The company’s strategic positioning and proactive measures to adapt to changing circumstances have positioned it to capitalize on the rebound in travel demand.

As the summer season approaches, IAG is focused on ensuring operational readiness to meet the surge in passenger numbers.

With travelers eager to reconnect with loved ones, explore new destinations, and embark on long-awaited vacations, the airline group stands ready to facilitate safe and seamless travel experiences.

As vaccination campaigns progress and travel sentiment rebounds, IAG’s proactive approach and strategic investments position it as a key player in the aviation industry’s recovery journey. With optimism on the horizon, the company remains committed to delivering exceptional service and fostering a seamless travel experience for passengers worldwide.

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