Nigeria

The United Bank for Africa (UBA) Plc on Thursday announced that all its African subsidiaries are now on firm footing as they have been contributing maximally to the group’s profit margin.

The bank said its African operations, specifically, have contributed close to 50 per cent of the group’s earnings, leveraging on digital offerings and products across the board to gain large market shares across the different regions of operations in Africa.

The COVID-19 Pandemic derailed economies everywhere, and in most developing countries, incomes remain well below pre-pandemic levels. Inflation, made worse by the war in Ukraine, is particularly painful in low-income and vulnerable countries where essentials like food and energy dominate household budgets. Higher interest rates are exacerbating debt distress across much of the developing world...

Source

The U.S. Under Secretary of State for Political Affairs, Victoria Nuland, on Thursday, said Nigeria needs to address its security challenges holistically.

Ms Nuland, who is visiting Nigeria for two days, described as ‘an evil thing, the way terrorists get into communities and destroy the fabric.’

“But what we are trying to do now, what Nigeria is trying to do, is really integrate the air and ground approach to security …I think Nigeria with our support needs to address this in a holistic way.”

Titan Trust Bank got $300 million financing to complete the buyout of a controlling stake in Union Bank, according to the investment bank that midwifed the deal.

PAC Capital Limited facilitated the raise of the much-needed cash from Cairo-based African Export-Import Bank (Afreximbank), Humphrey Oriakhi, the CEO of the investment bank, said in an emailed statement sent to PREMIUM TIMES.

“Specifically, the arranged funding completed the funds required for the proposed acquisition,” Mr. Oriakhi said.

Blessing Ibunge in Port Harcourt

The Director General of the Standard Organisation of Nigeria (SON), Mr. Farouk Salim has urged Nigerians to kick against importers with substandard products in the country.

Salim gave the advice during a one-day sensitisation programme in Port Harcourt, organised by SON, to mark its 50 years celebration.

The  Police have  arrested no fewer than 154 suspects    various crimes in Borno State. The Commissioner of Police in the state, Mr. Abdul Umar, confirmed this while briefing newsmen at the command headquarters in Maiduguri.

Umar said that out of the 154 suspects, 67 of them were charged to court and remanded in prison custody for being in possession of dangerous arms and disturbance of public peace in Maiduguri metropolis and its environs.

Michael Olugbode in Abuja

The National Human Rights Commission (NHRC) has said the federal government was duty bound to protect the lives of both the military personnel and other citizens under its jurisdiction from attacks by armed groups.

The Chairperson Governing Council of the Commission, Dr. Salamatu Suleiman said this in Abuja, yesterday.

She said the protection of lives of military personnel and other citizens was imperative given the increased insurgency and counter-insurgency operations in some parts of the country.

The Enugu State Commissioner for Health, Dr. Emmanuel Ikechukwu Obi, yesterday, said Governor Ifeanyi Ugwuanyi administration’s commitment to providing medical facilities across all level of healthcare services in the state has yielded the desired positive results.

Dr. Obi added that the preference of Gov. Ugwuanyi’s administration to provide quality, accessible and affordable healthcare services to the people of the state including those in the rural areas remains sacrosanct.

Police operatives in Anambra have rescued 35 girls from a baby factory in the Nkpor area of the South-east state.

A statement by the spokesman of the Anambra Police Command Ikenga Tochukwu said the girls were rescued during a raid in a hotel.

According to the statement, “Following a rigorous analysis of crime trends and pattern, the Command operatives on 13th June 2022, working on information burst a hotel named Gally Gally in Nkpor where they use children between the ages of 14 years and 17 years for sex slaves, prostitution and baby factory.”

Senator Enyinnaya Abaribe, representing Abia South Senatorial District has formally resigned his position as Minority Leader of the Senate.

His resignation was conveyed in a letter dated May 26th, 2022.

The letter was read by the Senate President, Ahmad Lawan, at the start of plenary yesterday.

Abaribe’s resignation as Minority Leader of the Senate, followed his defection from the Peoples Democratic Party to the All Progressives Grand Alliance (APGA).