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Report: Jack Ma’s Ant Group considers overhaul due to regulatory pressure
Chinese financial technology giant Ant Group plans reorganisation that would allow it to be regulated more like a bank, Bloomberg reports. Jack Ma’s besieged Ant Group Co. is planning to fold its financial operations into a holding company that could be regulated more like a bank, according to people familiar with the situation, potentially crippling the growth of its most-profitable units. The fintech giant is planning to move any unit that would require a financial license into the holding company, pending regulatory approval, said the people, who asked not be named because the matter is private. The plans are still under discussion and subject to change, the people said. Ant declined to comment. The operations that Ant is looking to fold into the holding company include wealth managemen...
Edo election: Comrade Shaibu warns Adams Oshiomhole not to subvert the people’s will
Edo State Deputy Governor, Rt. Hon. Comrade Philip Shaibu has urged a former Governor of the state, Comrade Adams Oshiomhole, not to subvert the will of the people and to jettison the plan to overturn the victory of Governor Godwin Obaseki at the September 2020 governorship election through the Judiciary. Shaibu during an empowerment programme for Afemai Youths in Ogbona and Jattu respectively at the weekend reaffirmed confidence in the judiciary and President Muhammadu Buhari to protect the nation’s democracy and the collective will of Edo people. The Deputy Governor said that Oshiomhole was instrumental to the Supreme Court victory of Governor Hope Uzodimma of Imo State and alleged he is ready to do the same to upturn the popular victory of Obaseki in Edo State. He said, “The Nigeria Jud...
Nigerian government says 300,000 mass housing scheme strictly for low income earners
The Federal Government says its Social Housing Programme, one of the components of the National Economic Sustainability Plan (NESP), is targeted at low income earners. Imeh Okon, Senior Special Assistant to the President on Infrastructure, who made this clarification on Tuesday in Abuja, said the scheme was not meant for politicians or highly placed persons. The 300,000 social housing programme is a component of the NESP designed by the Vice President Yemi Osinbajo-led committee constituted by President Muhammadu Buhari to cushion the effects of COVID-19 on Nigerians. She explained that one of the objectives of the administration was to provide houses for citizens across the country. Okon said that the houses would be durable and of high quality not minding the low prices. “It is a social ...
Ebonyi governor denies giving cultists N3 million
Governor David Umahi on Monday said he did not give N3 million to placate notorious cult groups allegedly terrorising residents of the state. Umahi said this when the 13 Local Government Area Chairmen, Coordinators of Development Centres, with their Management Committee members, among other political appointees, paid him a solidarity visit at the Government House, Abakiliki. He dismissed the report that he gave the money to the groups through his security aide. According to him, he had ordered a manhunt for members of the groups. “How can a warrior such as me bribe cultists, to do what with the money? The duty of political leaders and the citizens is to give me the names of the cultists because I will give them a bad Christmas celebration. “I am searching for them whether they are in gover...
Nigerian government to implement NIPSS recommendations on population growth
President Muhammadu Buhari has assured that his administration will look into the 12-point recommendations by graduates of National Institute for Policy and Strategic Studies (NIPSS) on Population Growth and Human Capital Development in Nigeria, with view of implementing them. The President gave the assurance at the graduation ceremony of the Senior Executive Course 42, held Saturday at the Institute in Jos. The President, represented by Plateau State Governor, Simon Lalong, charged the graduates to live up to expectations of leading Nigeria out of its problems. “The times levy a demand on institutions such as this one and on its graduates for innovation and creative intelligence in addressing our national challenges. “It is my conviction that the elites both individually and collectively ...
Group moves to reintegrate displaced persons
Agence France-Presse The initiator of The Skilled Women Initiative (TWINI), Chizom Nwankwo, has said the group intensified efforts in re-integrating some internally displaced persons in Abuja. Nwankwo said the displaced persons would be re-integrated into the community through the group’s learn, earn and blend model. She said with the plan, beneficiaries are taught vocational and technical skills of their choice, added with entrepreneurial skills to help them earn money. She said the beneficiaries had agreed to leave the internally displaced camp after 18 months. She also said the group created a market for the products to encourage beneficiaries, adding, “This is just like a factory. They are making soaps, shoes, cloths. If we are able to gather them and give them jobs, we create another ...
House of Reps suspends President Buhari’s scheduled appearance
The House of Representatives on Wednesday suspended its earlier plan for a briefing by President Muhammadu Buhari, after it became clear the president would no longer honour the House’s invitation. At plenary Wednesday, the House failed to mention an item on its order paper to admit Mr Buhari into the House chamber. It was the clearest evidence Mr Buhari, who was billed to explain the terrible security situation in the country to lawmakers, had cancelled the plan, confirming a report he would back off. All Progressives Congress (APC) governors had urged Mr Buhari to shelve his scheduled appearance. At a Tuesday night meeting between the governors and the party’s caucus in the National Assembly, those in attendance argued for hours on reasons for and against the appearance of the president ...
Kaduna screens youths for community policing to curb insecurity
Kaduna state government has started screening youths in its preparation to commence community policing to tackle insecurity in the state. The Acting Governor, Hadiza Balarabe, chaired a meeting which is part of the consultations in the three senatorial districts on how to address insecurity on Monday. The meeting had senators, members of the House of Representatives, state House of Assembly members and chairmen from the 15 local government areas in Kaduna North and Kaduna Central senatorial zones as well as District Heads in attendance. Speaking with journalists after the meeting, the senator representing Kaduna Central zone, Uba Sani, said they came together to look into the security problem facing Kaduna, stressing that insecurity needs to be tackled collectively. “I’m working on a bill ...
Nigerian governors to meet with President Buhari to address security challenges
Governors of the thirty six states under the aegis of the Nigeria Governors Forum, NGF have resolved to meet with President Muhammadu Buhari to address the security challenges with continued cases of armed banditry, terrorism and kidnapping across the country. The governors are meeting with President Buhari especially to discuss last week’s gruesome beheading of about 43 Farmers in Zarbamari near Maiduguri, Borno State by Boko Haram Insurgents while they were working in their farmland without any form of resistance. The decision was part of the resolutions reached at the end of the 22nd NGF teleconference meeting. In a Communique signed by the NGF Chairman and Ekiti State governor, Dr. Kayode Fayemi, said, ” Members of the forum resolved to meet with Mr. President as soon as possible to ad...
Lagos bye-election: APC, PDP bicker over ‘vote buying’
File Photo Ahead of forthcoming Lagos East Senatorial District bye-election that will hold on December 5, both the All Progressives Congress (APC) and the Peoples’ Democratic Party (PDP) in Lagos State have engaged each other on allegations of voting buying. In a separate statements by the parties, both APC and PDP raised the alarm of attempt to buy vote on the date fixed for the poll.While some residents of the senatorial district have also collaborated the claim’s of APC, alleging that PDP has perfected plan to buy vote with N5, 000 each. The concerned residents who were in different area of senatorial district asked the Independent National Electoral Commission (INEC), Nigeria Police and other security agencies to be at alert, warning that they would resist any plot to undermine the pro...
United Nations, Ethiopia reach aid pact for war-hit Tigray
Ethiopia and the United Nations reached an agreement on Wednesday to channel desperately needed humanitarian aid to a northern region where a month of war has killed, wounded and uprooted large numbers of people. The pact, announced by U.N. officials, will allow aid workers access to government-controlled areas of Tigray, where federal troops have been battling the Tigray People’s Liberation Front (TPLF) and captured the regional capital. The war is believed to have killed thousands, sent 45,000 refugees into Sudan, displaced many more within Tigray, and worsened suffering in a region where 600,000 people were already dependent on food aid even before the flare-up from Nov. 4. Aid agencies had sounded the alarm about a growing humanitarian crisis and been pressing for access, after hundred...
‘Electronic voting, best option for credible polls’
An Oyo State politician, Olayinka Oladimeji Segelu, has called for the adoption of electronic voting in Nigeria’s electoral process. Segelu, who aspired for House of Representatives in 2015, said the plan by the Independent National Electoral Commission (INEC) to commence electronic voting with Anambra State governorship election next year was a good move. He said: “Honestly, the only way we can ensure transparency and reliability in the conduct of elections in Nigeria is to embrace electronic voting as it is done in some other countries of the world. “We must understand that establishing an independent body to manage and supervise elections is not enough to guarantee free and fair elections devoid of an efficient and reliable system. “To start with, the cost of adopting the electronic bal...
