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NATBO Advises Buhari on Cabinet Members to Sack, Retain

The No Alternative to Buhari Osinbajo 2019 (NATBO) has urged President Muhammadu Buhari to be circumspect in appointing ministers for his second term in office.
Vincent Uba, national coordinator of the group, in a statement issued on Tuesday, said that the caliber of ministers appointed will determine the performance of the administration.
Uba advised that the ministers who had performed excellently in their sectors should be retained while other should be replaced with better alternatives.
“The No Alternative To Buhari-Osinbajo 2019 (NATBO 2019) urge Mr President to exercise great circumspect in the composition of his new cabinet.
“This has become necessary in view of the expectations of the populace that the next level slogan of the APC would not just become a mere slogan but a battle cry that will launch Nigeria into unprecedented higher level of security of lives and property, economic growth and development devoid of corruption.
“Having made us proud by his landmark achievements within the last four years, Nigerians, on the 23rd of February, 2019, gave him mandate to continue with the good works.
“In the light of this, we wish to suggest to the president not to tinker with some of the ministers that have performed creditability well during the period under review.
The success achieved by this administration through the efforts of some ministries is self-evident even to the most unyielding critics,” he said.
Itemising the ministries where great successes had been recorded, Uba said that the agricultural sector had witnessed a revolution that will soon make Nigeria to become self-sufficient in food production, especially in rice cultivation.
He said that the ability to easily source for fertilizers that used to be a herculean task had relieved farmers under the current administration.
He said that in the area of power generation and distribution, infrastructure provision and development, the Ministry of Power, Works and Housing had also performed creditably well.
“The Transportation Ministry is another one that has made this administration stand out in positive light.
“The railway revolution and maritime reforms should earn the ministers in charge of this ministry a re-appointment to avoid disruption of the already recognised good works that require continuity.
“The No Alternative To Buhari-Osinbajo 2019 group is by no means insinuating that no other minister has done well to deserve re-appointment and continuity, but the aforementioned ministries are simply the flagships of the administration.
“There is no doubt that there are very credible and knowledgeable Nigerians out there who can be appointed ministers in the incoming administration for the good of the Nigerian nation.
“We have only postulated that those who have shown signs, ability and readiness to walk the talk of redeeming Nigeria from decades of retrogression should be encouraged with more time to complete what they have started,” he said.
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EFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud


EFCC
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AfDB Supports Francophone Africa Start-ups with €6.5M

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.
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Nigeria Inks $1.3bn MoU with AFC for Alumina Refinery, Mining Push

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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