News
Delegate Seeks Death Penalty for Election Riggers
Alhaji Aliyu Abdulkarreem, a delegate at the National Conference has said that the conference is peopled by those he described as “active election riggers.”
Abdulkareem, who spoke while contributing to the debate on the report by the Committee on Political Parties and Electoral Matters in Abuja on Tuesday, recommended that stiffer penalties must be put in place to discourage election rigging in the country.
He said the outcome of election rigging in the country had been bad governance in Nigeria.
He, therefore, suggested that election riggers must be shot to serve as a deterrent to others.
Abdulkareem said, “I want the conference to look at the issue of rigging in the country. It is giving us bad government and that is why we are having bad governance. Election riggers must be shot. This conference is full of election riggers and I therefore move a motion that election riggers must be shot in order to serve as a deterrent to others.”
His contribution seemed not to go down well with majority of the delegates as they laughed, while others openly said “no” to his recommendation.
In his contribution to the debate, Mr. Akin Arikawe, a retired permanent secretary, suggested that the recommendation of the committee that election riggers must be banned for 10 years before being allowed to contest any elective office should be adopted.
“Election riggers must be banned for 10 years before being allowed to contest elections. Election riggers must be punished. We must be seen to be serious and we must take actions that are decisive,” he added.
In his contribution, another delegate, Senator Nnamdi Eriobuna, said it was unfortunate that most political parties lacked ideology and that they end up deceiving the voters.
While saying that political parties must be forced to have clear and distinct ideologies, he also said that any public office holder who defected should be made to lose his or her seat.
EFCC
The African Development Bank Group last week approved an investment of €6.5 million in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.
The Bank will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme.
This participation of the Bank Group will enable the Saviu II fund to give priority to companies with a strong technological or digital component.
Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology or technology-oriented business-to-business start-ups in the seed phase or carrying out first institutional fundraising.
The Saviu II venture capital fund aims to make at least 60% of its commitments in the French-speaking countries of West and Central Africa: Côte d ‘Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali.
The fund can also co-invest in promising technology companies in East Africa that have a strong team and business model, and whose strategy includes entering the market in French-speaking West African countries and establishing a strong presence there.
In addition, the fund will devote a dedicated envelope to pre-seed investments, focusing on minority equity investments, usually in co-investment with studios, incubators or other ecosystem partners.
Nigerian Government has signed a $1.3 billion Memorandum of Understanding (MoU) with Africa Finance Corporation (AFC) via the Solid Minerals Development Fund (SMDF) to fund an alumina refinery, national geoscience mapping, and a strategic investment vehicle for mining growth.
Special Assistant to the Minister of Solid Minerals Development, Segun Tomori, said the refinery will process one million tonnes of bauxite yearly using a modern Bayer process, powered by an on-site gas-fired cogeneration plant.
Minister Dele Alake called it a transformative milestone boosting GDP, aligning with reforms that improve investment climate, regulations, and licensing to attract private capital. He directed agencies to fast-track permits.
The 20-year project at 95% utilization eyes 19 million tonnes total output, $1.2 billion annual GDP addition, $25 billion economic impact, and $8 billion forex earnings, per feasibility studies.
SMDF Executive Secretary Fatima Shinkafi termed it the agency’s biggest funding deal, supporting value-addition policy.
The partnership extends to geoscience mapping for mineral data, de-risking exploration, and a joint vehicle for mining assets.
Permanent Secretary Engr. Farouk Yabo praised the reforms. Shinkafi signed for government; AFC’s Franklin Edochie for the corporation, witnessed by AFC CEO Samaila Zubairu.
Tomori positioned it as Nigeria’s largest private mining investment and FDI magnet.
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