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Tinubu, Wike, commended for improving infrastructure

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President Bola Tinubu and the Federal Capital Territory Minister, Nyesom Wike have been commended for enhancing Abuja’s infrastructure and creating an optimal environment for business prosperity.

Group Managing Director/CEO of Abuja Investments Company Limited (AICL), Amb. Maureen Tamuno gave the commendation while highlighting AICL’s diverse areas of investment, including real estate, entertainment, and hospitality, among others.

“AICL is the investment arm of the Federal Capital Territory (FCT) and is limited by shares. We do numerous business/investments that focus on various sectors, and we can point investors to the right place to invest, including our sister agencies in Abuja,” Ambassador Tamuno explained.

Speaking on AICL’s forthcoming inaugural Abuja Business and Investment Summit themed: ‘Optimising Investment Through Partnership,’ Amb. Tamuno said “The summit is a response to the President’s Renewed Hope Agenda and the Honourable Minister’s mandate to improve productivity. We aim to provide a conducive environment for businesses to thrive, create job opportunities for our teeming youth, and contribute to the overall economic development of the country.”

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The summit which will be held from  October 16 to 18, will feature renowned speakers, including the former Governor of the Central Bank of Nigeria and the current Governor of Anambra State, Professor Charles Soludo, MD/CEO of Lagos Bus Service Ltd Idowu Oguntola, Founder/Chairman FAD Media Group Fidelis Duker, Honourable Commissioner Budget and Economic Planning Anambra State Chiamaka Nnake, Special Adviser to the President on Economic Affairs Tope Fasua, and DG/CEO of NITDA Kashifu Inuwa Abdullahi, amongst several others.

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President Tinubu Announces Two Crucial Appointments (FULL LIST)

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President Bola Ahmed Tinubu has approved the appointment of Prince Ntufam Hilliard Eta as Chairman of the National Youth Service Corps (NYSC) National Governing Board.

Eta, a seasoned politician and strategist, once served briefly as the acting national chairman of the All Progressives Congress (APC) under the Muhammadu Buhari administration.

He is a former National Vice Chairman (South-South) of the APC and a Director in the party’s 2023 Presidential Campaign Council.

The NYSC National Governing Board, the scheme’s highest policy-making body, is responsible for setting its strategic direction.

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Eta has been a staunch advocate for progressive policies and grassroots mobilization. His leadership is expected to bring innovation, efficiency, and expanded opportunities to Nigerian youths under the NYSC program.

Also, President Bola Ahmed Tinubu has approved the appointment of Gen. Jibril Abdulmalik as the Secretary of the Civil Defence, Immigration, and Prisons Services Board (CDIPB).

A seasoned security strategist, Gen. Abdulmalik brings a wealth of experience to the role, having served in the Nigerian Army and various security agencies.

He also served as the Director of Security in the Tinubu-Shettima Presidential Campaign Council (PCC) during the last election.

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With an extensive background in military intelligence and security operations, experts say Gen. Abdulmalik is well-equipped to oversee policy formulation and operational strategies for Nigeria’s paramilitary agencies.

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Court sentences 52-year-old bishop to 20 years in prison for rape

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A Federal Capital Territory (FCT) High Court sitting in Gudu has sentenced Bishop Kenneth Duke, a prominent church founder in Abuja, to 20 years imprisonment without an option of fine for the rape of a 12-year-old girl.

Justice Adebiyi Osolo handed down the sentence after the National Agency for the Prohibition of Trafficking in Persons (NAPTIP) charged the 52-year-old bishop, an indigene of Cross River State, for assaulting the minor, who had been entrusted to his care. The offence contravenes the Violence Against Persons (Prohibition) Act, 2015.

In case number CR/702/2023, Federal Republic of Nigeria Vs Bishop Kenneth Duke, the defendant was arraigned on November 2, 2023, on a two-count charge of rape and causing emotional and psychological harm to the victim.

NAPTIP’s investigation revealed that the victim, an indigene of Ondo State, had been living in Lagos before moving to Abuja to live with her mother. On March 5, 2023, her mother took her to the bishop’s church, where she later stayed with the bishop’s family under the arrangement for the child to learn a skill.

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On March 6, 2023, while alone with the girl, Duke allegedly assaulted her.

NAPTIP confirmed that the bishop was found guilty of rape and sentenced accordingly.

Reacting to the conviction, NAPTIP’s Director-General Binta Bello commended the judiciary for its decision, noting that it would serve as a deterrent to others.

“I want to sincerely thank the judiciary for this judgment. It will certainly serve as a deterrent to others,” Bello said, stressing that NAPTIP would continue to hold offenders accountable regardless of their status.

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Bello further emphasised the serious impact of sexual violence. “Rape is a serious crime with lasting psychological effects on the victim. We must all rise to say no to this heinous crime and ensure the protection of our children,” she added.

The development followed the rescue of nine pregnant girls by NAPTIP operatives at a suspected baby factory located within one of the sprawling estates in the Ushafa area of Abuja.

The victims had been locked in a rented apartment inside the estate by a suspected trafficking agent, whose identity remains unknown, after being recruited through an online platform.

NAPTIP operatives carried out the raid following a tip-off from a concerned citizen who noticed unusual activity and movement around the area.

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Every Nigerian ‘Owes’ Over ₦700k As Nation’s Debt Profile Rises Under Tinubu

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Nigeria’s total public debt skyrocketed to ₦142.3 trillion by the end of September 2024, marking a 5.97% increase from the ₦134.3 trillion recorded in June, according to the latest figures from the Debt Management Office (DMO).

This surge stems from rising domestic borrowing and the naira’s depreciation, which sharply inflated the naira equivalent of external debts.

External debt, measured in dollar terms, rose slightly by 0.29%, from $43.03 billion in June to $43.15 billion in September.

However, the naira equivalent ballooned by 9.22%, jumping from ₦63.07 trillion to ₦68.89 trillion.

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This was attributed to the exchange rate weakening from ₦1,470.19/$ to ₦1,601.03/$ within the same period.

Domestic debt presented a mixed picture: while declining by 5.34% in dollar terms (from $48.45 billion to $45.87 billion), it rose by 3.10% in naira terms, increasing from ₦71.22 trillion to ₦73.43 trillion.

“The Federal Government remains the primary driver of domestic debt, rising from N66.96 trillion in June to N69.22 trillion in September,” the DMO noted.

Debt owed by states and the Federal Capital Territory (FCT) decreased marginally, from ₦4.27 trillion to ₦4.21 trillion.

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With the naira’s depreciation exerting significant pressure, financial experts warn that Nigeria’s rising debt stock underscores the urgent need for fiscal reforms to stabilise the economy.

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