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2023 Elections: US Threatens Visa Restriction On Promoters Of Violence

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The United States of America says it will impose visa restrictions on anyone who promotes violence as Nigeria holds its general election in 2023.

America’s Deputy Assistant Secretary of State for Africa, Mr. Michael Gonzales, handed out the warning at an international conference with the theme, ‘United States Policy and Nigeria’s National Decisions in the 2023 Elections’, held at Johns Hopkins University, United States.

NAN reports that the conference, which was held at the School of Advanced International Studies in Washington DC, virtually, brought together Nigerian and American policy communities to discuss issues around the 2023 general elections.

Gonzales said the United States government “will continue to use our messaging, as well as other diplomatic channels at our disposal, including visa restrictions, where warranted, to dissuade those who may be tempted to use violence to undermine Nigeria’s democratic process.”

According to him, the US government remains committed to working with Nigeria to uphold its conventions toward ensuring a peaceful power transition in 2023.

NexTier’s Founding Partner, Patrick Okigbo, clarified that the reason for hosting the conference in the United States was to elevate the election issues and conversations to the international stage.

He reiterated the need for Nigeria’s international partners to assist in upholding her democratic process, even as he pointed out that “democracy is not an end state but a project that requires continuous nurturing”.

Okigbo said, “Insecurity in Nigeria and recent occurrences in West Africa and Sahel regions should cause Nigeria’s elite to use the 2023 elections to douse the tensions and set the country on a growth path.”

He further cautioned that the failure to address the issues raised at the conference could have devastating consequences, whilst attention to the recommendations could yield a bountiful harvest.

Other panelists highlighted the insecurity risks and the need to manage the 2023 elections properly, in addition to other points raised at the conference.

Among these points were the issue of faltering political developments as they concerned elitism and Nigeria’s progress, as it was observed that since 1999, the Nigerian elite had found a way to maintain a modicum of stability for elections and “eventually share the dividends of the election outcomes.”

In his contribution, Retired Brig.-Gen. Saleh Bala observed that “security challenges in Nigeria are true, present, and tangible but what is consistent is the lurking shadow of elite interests and how they serve their interests.”

On insecurity threats to Nigeria’s democracy, the conference found that poor management of the elections, especially the rotational presidency convention, could threaten Nigeria’s democracy against the backdrop of pervasive insecurity, the proliferation of small arms and light weapons, the rise of self-help groups, and increased secessionist agitations in southern Nigeria.

Director of the Centre for Democracy and Development, Ms. Idayat Hassan, noted that “political parties during the Anambra governorship election cycle could not campaign due to insecurity”, and that worse scenarios could happen in 2023.

Hassan asserted that “the zoning of the presidency to the south, particularly the Southeast, will give the region a sense of belonging in Nigeria.”

(NAN)

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Federal Government To Grant Mining Licenses To Only Companies That Process Locally

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Nigeria will only grant new mining licences to companies that present a plan on how minerals would be processed locally, under new guidelines being developed, a government spokesperson confirmed on Thursday.

This is a departure from Nigeria’s long-standing practice of exporting raw commodities, as governments around Africa work to increase the value derived from their substantial mineral reserves.

To spur investment, Nigeria will offer investors incentives including tax waivers for importing mining equipment, make it easier to secure electricity generation licences, allow full repatriation of profits and boost security, Segun Tomori, a spokesperson for Nigeria’s minister of solid minerals development said.

“In exchange, we have to review their plans for setting up a plant and how they would add value to the Nigerian economy,” Tomori said. He did not say when the guidelines would be finalised or come into effect.

However, last week the minister of solid minerals development, Dele Alake, said it was now government policy to make value addition a condition for obtaining licences so as to create jobs and help local communities.

Alake, who also chairs an African mining strategy group comprising mining ministers from Uganda, Democratic Republic of Congo, Sierra Leone, Somalia, South Sudan, Botswana, Zambia and Namibia, is pushing for a continent-wide effort to get maximum local benefit from mineral exploration.

Nigeria, Africa’s top energy producer, has struggled to extract value from its vast mineral resources due to poor incentives and neglect. The underdeveloped mining sector contributes less than 1% of the country’s gross domestic product.

Last year Nigeria exported mostly tin ore and concentrates worth about 137.59 billion naira ($108.34 million), mainly to China and Malaysia, according to the country’s statistics bureau.

The government aims to drive more investment into the sector by issuing more licenses. It has set up a state-owned solid minerals corporation offering investors a 75% stake and established a special security unit tasked with fighting illegal miners.

The government is also trying to regulate artisanal miners, who dominate the sector, by grouping them into cooperatives.

Foreign mining companies operating in Nigeria include Canada-based Thor Explorations which is involved in gold exploration, Chinese-owned Xiang Hui International Mining which partnered with a local company to process gold, and Indian-owned African Natural Resources and Mines, which is building a $600m iron ore processing plant in northern Nigeria.

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Governor Babajide Sanwo-Olu Felicitates President Tinubu At 72

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Governor Babajide Sanwo-Olu, has congratulated President Bola Ahmed Tinubu on his 72nd birthday, describing him as a brave, bold, and passionate leader who is dedicated to the advancement, growth, and development of Nigeria.

He said that President Tinubu’s contribution to the nation’s growth is cause for celebration, citing the President’s unparalleled bravery, integrity, honesty, and patriotism in his efforts to steer Nigeria’s ship in the correct path since he into office on May 29, 2023.

Governor Sanwo-Olu, in a statement issued on Thursday by his Special Adviser, Media and Publicity, Mr. Gboyega Akosile, said President Tinubu has provided honest and transparent leadership in Nigeria by taking bold decisions to address challenges militating against the prosperity of Nigeria and Nigerians.

Sanwo-Olu further described the President as a visionary and master strategist whose democratic credentials are scholarly materials for study in political economy.

He said: “On behalf of my family, the government, the people of Lagos State,  members of the Governance Advisory Council (GAC), leaders, and members of the ruling All Progressives Congress (APC) in Lagos State, I congratulate our leader, President Bola Tinubu, on the occasion of his 72nd birthday.

“President Tinubu has sacrificed the greater part of his life in the service of our dear State and Nigeria. He contributed to the enthronement of democracy and good governance, serving first as a Senator in the aborted third republic and later as a pro-democracy activist, working tirelessly as a member of the National Democratic Coalition (NADECO) to struggle for the de-annulment of the June 12, 1993 presidential election.

“President Tinubu’s financial wizardry and economic intellect, which he put to good use as the Governor of Lagos State, have taken our dear state to a greater height. Today, Lagos is the pride of Nigeria, occupying an enviable position as the fifth largest economy in Africa.

“President Tinubu has made positive impacts in the country through the Renewed Hope agenda of his administration. His unblemished service and track record of impressive achievements in public office have made him a role model for many Nigerians.

“As President Tinubu celebrates his 72nd birthday, it is our prayer that God will grant him more prosperous years in good health and wisdom as he continues to serve our dear nation.”

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JUST IN: CBN Increases Banks Capital Base To N500bn, N200bn For National Commercial Banks

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The capital basis for commercial banks with international permission has been raised to N500 billion by the Central Bank of Nigeria (CBN).

The policy change was confirmed by Mrs. Hakama Sidi Ali, CBN’s acting director of corporate communications. in a declaration.

She added that commercial banks with regional authorization are expected to reach a capital floor of N50 billion, while those with national authority must meet a ceiling of N200 billion.

Announced on Thursday, March 28, 2024, this comprehensive financial reform requires significant increases in banks’ minimum capital bases, which vary depending on the size of the bank.

The latest policy directive specifies that commercial banks with international authorization are now required to shore up their capital base to N500 billion.

In a bid to tighten the financial fabric, the CBN has not overlooked merchant banks, which are now subject to a N50 billion minimum capital requirement.

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