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Spanish Industry Minister Jose Manuel Soria Resigns Over Panama Leaks

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Jose Manuel Soria

Spanish Industry Minister, Jose Manuel Soria resigned on Friday following his contradicting explanations over links to an offshore company listed in the Panama Paper.

Soria came under heavy scrutiny early in the week over his involvement in an offshore firm, U.K. Lines Limited, set up by Mossack Fonseca.

He also resigned as the chairman of the regional Popular Party in the Canary Islands. He is expected to appear before the parliament on Monday morning to explain his version of events.

According to El Confidencial and La Sexta, Mr. Soria was the director of the Bahamas based company for two months period in 1992, while he joined politics in 1995 as the Mayor of Las Palmas (Canary Islands). The said company was wound up weeks prior to his first election 21 years ago.

Media analysts believe the minister handled the media presentation badly – and subsequent public fallout of his difficulties over the course of the week.

The minister was quoted saying “I neither have nor have had companies registered in Panama”, he said, apparently failing to remember the company was registered in the Bahamas: “it’s false”.

On Thursday,  El Mundo published an article indicating Mr. Soria as a director of yet another company, a Jersey based offshore company called Mechanical Trading Limited up until November 2002, when it was dissolved.

Not only did the new revelation disprove the minister’s own aggressive denials, it also showed he had been the director of the offshore company, Mechanical Trading Limited, while he was the Mayor of Las Palmas in the 1990s.

 

 

 

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Government

Buhari Bows to Pressure, Overhauls Murderous Police Unit, SARS

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FG, NPF Dissolve SARS Amid Nationwide Protests

President Muhammadu Buhari has finally bowed to pressure to disband the murderous Special Anti-Robbery Squad (SARS) unit of the Nigeria Police Force (NPF).

In a statement released on Sunday, Mohammed Adamu, Nigeria’s Inspector General of Police, said the Special Anti-Robbery Squad unit had been abolished “with immediate effect”. He, however, said SARS officers would be redeployed to other police units, formations and commands that the Nigerian people are saying also needs reform.

 

This was after President Buhari had said he met with the Inspector General of Police on Saturday to discuss reform of the UNIT against a complete overhaul being pushed by millions of harassed, dehumanised and disrespected Nigerian youths.

The statement further aggravated Nigerian youths, who encouraged Nigerians abroad to stage protests across the nation’s embassies in a move to draw international media and organisations to the plight of youths in Africa’s largest economy. Sensing chaos amid expected economic recession in the third quarter, President Buhari and the Nigeria Police Force quickly dissolved the murderous anti-robbery squad to force decorum and calm millions of angry Nigerian youths.

Nigerian youths, both celebrities, influencers and regular people, have used their social media backed with action to compel the Nigerian government, known for blatant disrespect, disregard and the use of counter-protests to suppress and discredit dissenting voice, to finally put to an end a police unit that has killed several youths for owning an iPhone, having a laptop, driving a car or even looking good.

This is a win for the Nigerian youths and sent a strong message to the leaders that youths will no longer tolerate their excesses and henceforth would be demanding accountability, transparency and the right implementation of the rule of law regardless of class, status or position.

To the youths, it validated what the majority have been clamouring for, UNITY that transcends tribes and religions. If Nigerian youths stick together and continue to demand change in one voice with civil disobedience, we will eventually have a Nigeria we all can be proud of.

Congratulations to US!.

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LAMATA Says Lagos Red Rail Project to be Operational by October 2022

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Railway Projects

Lagos Red Rail Project to be Operational in 24 Months

Lagos State Metropolitan Area Transport Authority (LAMATA) has said the ongoing Lagos Red Rail Line project will be completed for operation in the next 24 months, October 2022 to be precise.

Mrs Abimbola Akinajo, the Managing Director, LAMATA, disclosed this at a milestone meeting on the implementation of the Lagos Rail Mass Transit Red and Blue Line projects in Lagos on Tuesday.

In the meeting with contracts, Akinajo said the gathering was to reaffirm the established positions on timelines for delivery of the rail lines to passengers, according to a statement titled ‘Lagos red rail line will be operational in 24 months’ and signed by Kolawole Ojelabi, Assistant Director, Corporate Communication, LAMATA.

She said, “The red line is supposed to be a quick win because it will share tracks with the Nigerian Railway Corporation on its Lagos – Ibadan rail corridor. There will be no delays, no budget or cost overrun and there will not be any shift in delivery date.

“Our meeting is to take stock of what we have done so far since this project started and to re-emphasise that there is no room for slippage in the delivery of the red line.”

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#Endsars: Naira Marley Calls Off Protest following Police Invitation

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Naira Marley Says no Protest After Police Invitation

Afeez Fashola popularly known as Naira Marley has called off the nationwide protest scheduled for today, Tuesday 6, October 2020.

In a tweet put out by the musician a few minutes ago, he said “We won’t be protesting anymore because there’s a lot of changes being made right now. As a Marlian we will give them a week to see the changes and if there’s no changes we will start a mass protest.”

This was after the Nigeria Police Force reportedly invited the musician a day before the supposed protest to brief him on the ongoing efforts to address concerns of the Nigerian Youth regarding the operations of a unit of the Nigerian Police Force, Special Anti-Robbery Squad (SARS).

On Monday, Sunday Dare, the Minister of Youth and Sports Development, had urged the musician and his followers not to embark on the protest as their grievances are being addressed at the highest level of government.

He said “I urge you and other youth not to embark upon any protest. Your grievances are being addressed at the highest level of government. As the Minister in charge of youth, I know this is an issue that must be tackled. Government is doing just that.

On Tuesday, the musician announced he would be having a live Instagram chat with DCP Frank Mba to discuss the concerns of young Nigerians concern SARS operations.

This was after the Nigerian Police Force had tweeted that “@officialnairam1 The Inspector General of Police wishes to inform Nigerian youths that their voices and complaints on the issues of unprofessional conducts by some SARS operatives have been heared very loudly and clearly.”

However, angry Nigerian youth have started attacking the musician, calling him a Coward like Tu Face. Some claimed he has been paid to call off the protest like every other activist in the country.

Scotty Aluta @saintyommite1 said “At first i respected your actions towards planning a protest but my greatest regret is screenshotting your tweet and post in different platforms to salute your courage, now you just chickened out like everyone else! Real revolutionaries dont bow to pressure! I am disappointed.”

I am Riel @Iam_Riel said “Imagine, you don’t do this on the last day, it’d feel like you got threatened, you protest because you want them to change, not because of the changes you expecting, who would come out with you next week? This is wrong na.”

Manlike @fairlyodd_tweet said “I’m so disappointed in Naira marley, we all lashed at the NLC when they did the same thing now look at our so called youth backing down because they held one meeting that wouldn’t change anything.”

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