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BREAKING: Finally, Ghana Passes Anti-Gay Law
The anti-LGBTQ measure, also known as the human sexual rights and family values bill, has been passed by the Ghanaian parliament on Wednesday.
The Lawmaker representing Ningo-Prampram at the parliament, Sam Nartey George, sponsored the bill, which is known as the Promotion of Proper Human Sexual Rights and Ghanaian Family Values bill.
According to GhanaWeb, the Ningo-Prampram MP Sam Nartey George was the bill’s private members lead author.
Reports details that the bill prohibits LGBTQ activities and makes it illegal to promote, advocate, or fund them.
Local Ghanaian media further reports that , people found participating in the activity may receive a penalty of six months to three years in prison, while those who encourage or enable it may receive a sentence of three to five years.
This bill passage comes years after the bill was introduced at the parliament. The bill had gone through various stages, facing backlash and efforts by opponents to block it or make changes.
Homosexuality is currently illegal in Ghana, punishable by up to three years in prison.
The new legislation increases the maximum punishment for homosexuality to five years.
This bill will also make it illegal to distribute materials that promote LGBTQ rights.
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IFC, CBN Partner On Private Sector Growth Through Naira Financing
The International Finance Corporation, IFC, a member of the World Bank Group, and the Central Bank of Nigeria, CBN, have signed an agreement to increase local currency financing to enable private businesses in Nigeria to grow and thrive.
The partnership will allow the IFC to manage currency risks and increase its investments in the Naira across priority sectors of the economy, including agriculture, housing, infrastructure, energy,
small and medium enterprises and the creative and youth economy.
A statement jointly issued by Hakama Sidi Ali, on behalf of the CBN in Abuja, and Hlazo Mkandawire for the IFC, said the global financial institution aims to significantly scale up its financing of critical sectors in Nigeria, with a goal of providing over $1billion in the coming years to shore up the Naira.
The statement added that many of the sectors of the economy to be impacted require local currency financing, and as such the IFC’s partnership with the CBN is a key tool in expanding access to finance.
“Ths pioneering initiative between the IFC and CBN will unlock the much-needed long-term local
currency fnancing for private businesses in Nigeria at economically viable rates,” stated Governor Yemi Cardoso of the Central Bank of Nigeria.
“This collaboration marks a significant progress in the CBN’s commitment to deliverng innovative development initatives through reputable third-party
service providers, moving beyond traditional intervention programs.
“It will serve as a catalyst for
economic growth and advance the Federal Government’s agenda for economic diversification”, the apex bank governor stated.
“Expanding access to affordable local currency financing for small businesses in Nigeria is essential for the IFC to address the increasing demand for diverse funding options and to better
manage currency risk,” said Makhtar Dop, the IFC managing director.
“Our partnership with the
Central Bank of Nigeria will enhance lending in Nigerian naira, fostering economic growth and
creating jobs across the country.”
With an active portfolio of investments in Nigeria of up to $2.13 billion—the second highest in Africa—local currency financing is a key priority for the IFC.
“We will continue to leverage innovative financial instruments and strengthen partnerships to meet the growing demand for more local currency financing in emerging markets”, he added.
The IFC, a member of the World Bank Group is the largest global development institution focused
on the private sector in emerging markets.
Operating in more than 100 countries worldwide, the IFC uses its capital, expertise, and influence to create markets and opportunities in developing countries.
In fiscal year 2024, the IFC committed a record $56billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet.
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EU Supports Dialogue On Increased Women’s Participation, Representation In Governance
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BREAKING: APC Suspends Rauf Aregbesola Over Anti-party Activities
By Kayode Sanni-Arewa
The Osun State chapter of the All Progressives Congress (APC) has suspended former Minister of Interior, Ogbeni Rauf Aregbesola, over alleged anti-party activities. According to Vanguard, in a resolution submitted to the APC National Secretariat and directed to National Chairman Dr. Umar Ganduje, Osun APC accused Aregbesola, who previously served as governor, of fostering divisions within the party by creating a rival faction. The APC claims that this act has disrupted party unity, especially during a sensitive time in Osun politics. Party leaders believe Aregbesola’s influence over certain groups has deepened internal rifts, which the state chapter sees as detrimental to the party’s unity. This suspension represents a bold step by the Osun APC to address internal issues and refocus leadership priorities as they prepare for upcoming elections. Responses from Aregbesola’s camp are expected as the situation develops.
Details later…
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