Buhari seeks more Korean investments in Nigeria, promises security, regular electricity 

President Muhammadu Buhari has called for increased Korean investments in Nigeria for mutual economic benefit.

By harun babaizhi • OCTOBER 26, 2022

 President Muhammadu Buhari has called for increased Korean investments in Nigeria for mutual economic benefit.

His media aide Femi Adesina disclosed this in a statement on Wednesday.

According to the statement, Mr Buhari gave the invitation to Korean investors when he granted an audience to representatives of strategic Korean companies and industries in Seoul.

The meeting was held on the sidelines of the World Bio Summit 2022 in the Republic of the Korean capital, Seoul, South Korea.

“Nigeria remains committed to creating a stable and enabling business environment for foreign investors through the formulation of sound economic policies and improved governance,” said the statement. “The security forces have been working assiduously with local communities to ensure the security of lives and properties of Nigerians and foreign investors.”

The president stated that his regime had prioritised power infrastructure and procured modern equipment for power generation.

While making a case for the country as investment-friendly and choice destination, Mr Buhari said Nigeria’s economy remained the largest in Africa.

“With a nominal GDP of $431.97 billion, Nigeria’s economy remains the largest in Africa with vast human capital and natural resources,” he said.

According to him, the steady improvement from the global economic downturn of 2020 indicates that the Nigerian economy is on a firm path of recovery.

Mr Buhari implored the investors to take advantage of the many investment opportunities in Nigeria, especially in oil and gas, trade, manufacturing, ICT, creative industry and culture exchange.

”It is worthy of emphasis to underscore that the business environment in Nigeria offers low corporate tax regime/VAT rates, flexible labour market conditions and simple procedures for establishing businesses,” added the statement.

The president also acknowledged some significant investments by Korean companies in Nigeria in the fields of construction or heavy-duty industries, ICT and electronics and chemical production, estimated as of 2021 at no fewer than 20 registered companies in Nigeria.

The Nigerian leader expressed delight that these “companies have continued to contribute immensely to the growth of the Nigerian GDP and have created job opportunities in the country.

“I look forward to increased investments by Korean private companies in Nigeria as we resolve the issues of enabling relevant agreements such as Investment Promotion and Avoidance of Double Taxation between our two countries,” said Mr Buhari.

He expressed optimism that his engagements with Korean economic operators in priority areas would mutually benefit both countries and their peoples.

 

Enugu: NSCDC nabs vandals of railway sleepers 

The Nigeria Security and Civil Defence Corps (NSCDC) has arrested two people suspected of vandalising railway sleepers in Enugu.

By harun babaizhi • OCTOBER 26, 2022

NSCDC officers

The Nigeria Security and Civil Defence Corps (NSCDC) has arrested two people suspected of vandalising railway sleepers in Enugu.

Aloysius Obiorah, the NSCDC commandant in the state, said this in a statement by Denny Manuel, the command’s spokesperson.

The suspects, Onu Chekwube, 28, and Okeke Okwudiri, 18, were arrested on October 10 in Aruokwe village, Oduma, in the Aninri council area.

Mr Obiorah disclosed that they were arrested while dismantling railway installations belonging to the Nigerian Railway Corporation. He said the suspects would be charged to court after a full investigation. 

The commandant added that the NSCDC recovered 77 railway bolts and nuts, an iron pipe, a digger and machete, a rig spanner, empty hydraulic acid containers, a flat spanner and two full hydraulic containers from the suspects.

He further stated that the suspects were nabbed with the support of hunters and Forest Security Service operatives.

Mr Obiorah urged Enugu residents to assist security agencies with information on the activities of criminals for prompt action, emphasising that community-based intelligence is important to the timely containment of criminal activities.

N7 Billion Fraud: Fayose’s trial stalled over date mix-up

The money laundering trial of former Governor Ayodele Fayose could not continue on Wednesday following a date mix-up.

By harun babaizhi • OCTOBER 26, 2022

 The money laundering trial of former Governor Ayodele Fayose could not continue on Wednesday before the Lagos Division of the Federal High Court following a date mix-up.

Mr Fayose is being prosecuted by the Economic and Financial Crimes Commission (EFCC) for fraud and money laundering charges.

The trial will now continue when the parties have agreed on a date.

He was first arraigned alongside his company, Spotless Investment Ltd, on October 22, 2018, before Justice Mojisola Olatotegun on 11 counts bordering on fraud and money laundering offences.

He had pleaded not guilty to the charges and was granted bail on October 24, 2018.

The defendant was re-arraigned before Justice Chukwujekwu Aneke on July 2, 2019, after the case was withdrawn from Ms Olatoregun following EFCC’s petition.

He had also pleaded not guilty to the charges and was allowed to continue on the earlier bail granted while the case was adjourned for trial.

The commission has since opened its case before Justice Aneke and is still leading witnesses in evidence.

In December 2021, EFCC called its 11th witness, Joanne Tolulope, who had narrated how Abiodun Agbele, an associate of Mr Fayose, bought properties worth several million. 

Di Maria to end career with childhood club Rosario Central

Juventus winger Angel Di Maria wants to finish his playing career where it started, back in Argentina with Rosario Central.

By harun babaizhi • OCTOBER 26, 2022

 Juventus winger Angel Di Maria wants to finish his playing career where it started, back in Argentina with Rosario Central.

“I’d like to go back to Rosario,” he said. “I know it’s difficult… but it’s as I always say — the dream of all those in Argentina is to come and play in Europe; mine is to return one day to wear the Rosario Central shirt. It’s reality. I’ve always said it. If I get the chance, I’d love to.”

Di Maria, 34, joined Rosario as a four-year-old, spending the next 15 years with the club before a starring performance in the FIFA Under-20 World Cup saw Benfica come knocking.

His move to Benfica was the beginning of a remarkable European career.

Later, he played for Real Madrid, Manchester United and Paris Saint-Germain (PSG) before landing in Italy with Juventus.

Despite all his success in Europe, Di Maria expressed his desire to return to his roots.

Rosario currently sits 19th in the 28-team top division in Argentina, and with little spending power, it would require a massive pay cut for Di Maria’s desire to become a reality.