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Pension operators target investments in infrastructure in 2023

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The Chief Executive Officer (CEO), Pension Funds Operators Association of Nigeria (PenOp), Mr Oguche Agudah says many pension fund managers would channel their investments to infrastructure in 2023.

Agudah said this over the weekend during a webinar organised by PenOP, with the theme: “The Nigerian Economic and an Investment Outlook: A focus on Pension Fund Investment Strategies,”

According to him, 42 per cent of the Pension Fund Administrators (PFAs) indicated that they were actively looking for investments in infrastructure in 2023, while 50 per cent would consider it.

He said “Although fund managers are careful about private equity, they will consider the investment in infrastructure on a deal by deal basis. This is because 25 per cent of the fund managers had assured that they would invest in private equity while 67 per cent would consider it.

Fund managers are looking to invest in impact funds but transparency and structure are key,” he explained.

On various dealings in equities and securities, the PenOp CEO disclosed that there was reduction in engagement with equities in 2022 from 7.73 per cent in 2021 to 6.79 per cent in 2022.

Agudah explained that government securities as share of portfolio declined by 118 basis points to 65.44 per cent, while there was reduction in interaction with money market securities by 1.92 per cent.

Also speaking, Mrs Rita Babihuga-Nsanze, Chief Economist, Africa Finance Corporation (AFC), said some of the steps the incoming government must take to put the economy on the right path and put an end to fuel subsidy regime

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She said the incoming government must address security in oil sector corridor, subsidy regime and enthrone the expected reform in forex market.

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Senator Natasha: End this debacle now – Arewa group

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A Northern youth group, Arewa Youth Council for Justice, has urged suspended Senator Natasha Akpoti-Uduaghan to end the conversations that led to her suspension from the Senate by issuing an apology to the National Assembly.

The group took the stand in a statement made available to journalists on Thursday, signed by its National President, Isak Mammud and the National Secretary, Timothy Isaiah.

This came in reaction to the verbal war between Senator Onyekachi Nwebonyi representing Ebonyi Central and former Minister of Education, Oby Ezekwesili.

The youth group said the matter was assuming a disturbing dimension and should be brought to a close.

While accusing Senator Natasha of escalating a matter that should have been amicably resolved in the Senate within hours, the youths said if something was not done urgently, the matter could get to a more dangerous stage.

“What happened during the Senate Public Hearing could not have happened in the first place had Senator Natasha issued an apology to the Senate President and by extension the Senate a long time ago.

“It is sad that mere change of seating position has been dragged to such an extent that the reputation of Nigeria’s image abroad is being dented over a trivial matter, which was now blown out of proportion to the extent of alleging sexual harassment.

“We are troubled by the latest developments, including the shouting match during the public hearing, as well as the recall process against Senator Natasha.

“Indeed, the time had come for the Senator to heed the voice of reason by apologizing to the Senate President, whose image was unnecessarily attacked,” the group stated.

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While commending Senator Akpabio for maintaining his cool all the while, the Arewa group noted that hiding under unfounded allegations to justify the flouting of Senate rules was totally condemnable.

“However, we appeal that should the Senator tender an unreserved apology, the Senate President, in his usual humility and peaceful disposition, should forgive her and allow her to be restored to the Senate.”

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NAF eliminates scores of terrorists in multiple airstrikes in Borno

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The Nigerian Air Force (NAF) has eliminated scores of suspected terrorists during multiple airstrikes at Warawara, near Wajiroko, and Chinene in the Mandara Mountains area of Borno.

The Deputy Director of Public Relations and Information, NAF, Group Capt. Kabiru Ali, disclosed this in a statement issued n Thursday in Abuja.

Ali said that the NAF had sustained its counterterrorism operations tempo in the North-East, executing decisive airstrikes in multiple waves on Wednesday and dealing a severe blow to insurgent activities.

He said that the NAF, guided by painstaking Intelligence, Surveillance, and Reconnaissance (ISR) missions, identified a number of terrorists stockpiling logistics and planting Improvised Explosive Devices (IEDs) around Wajiroko.

According to him, surveillance later tracked their movement to a concealed location housing a gun truck, ammunition stockpiles, and fuel reserves.

”In response, the Air Component of Operation Hadin Kai (OPHK) executed multiple waves of air interdiction missions.

”The first wave struck the terrorists’ logistics hub, destroying gun trucks and critical supplies.

”The other followed with sustained rocket and cannon attacks, ensuring the complete annihilation of terrorist’s assets.

”Later that day, NAF aircraft targeted another terrorist enclave at Chinene in the Mandara Mountains.

”Intelligence reports indicated that insurgents had relocated there following a previous air raid on Degbewa on March 16.

”Overhead reconnaissance confirmed the presence of active structures, prompting the execution of strikes that set terrorist hideouts ablaze.”

Ali added that the fleeing insurgents were subsequently engaged and neutralised, further crippling their operational capacity.

According to him, battle damage assessment and corroboratory intelligence confirmed the neutralisation of scores of terrorist fighters.

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He said the airstrikes also destroyed four terrorist gun trucks, two Toyota Hilux vehicles, and several makeshift shelters, forcing the insurgents to abandon their positions degrading their operational capabilities.

”These successful air interdiction missions underscore the NAF’s unwavering commitment to neutralising insurgents, disrupting their logistics, and denying them safe havens.

”With sustained pressure on terrorist elements, the NAF remains resolute in its mission to restore peace and security in the country,” he said.

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NYSC to female corps members: “Go to your parents, not your boyfriends”

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The Bauchi State Coordinator of the National Youth Service Corps (NYSC), Mrs Rifkatu Yakubu, has urged female Corps members to return home to their parents after completing their service.

Yakubu, made the call on Thursday in Bauchi during the distribution of National Service certificates to corps members.

While specifically addressing the 2024 Batch ‘A’ Stream 11 female corps members, she said, “Ladies, please remember that your boyfriends are not your parents.

“Do not say that after collecting your certificates, you are heading to your boyfriends’ houses,” she advised.

“Go back home to your parents and celebrate with them. You have just completed your national service, and this is a moment to share with your family.”

She also encouraged corps members to put their skills to good use, particularly those acquired through the NYSC’s Skills Acquisition and Entrepreneurship Development (SAED) programme.

“Even if you haven’t learnt anything from the SAED programme, it’s not too late.

“Instead of going home to sit idle, find something to do to support your parents. Use this last allowance wisely; invest in learning a trade,” she said.

Yakubu further cautioned corps members against engaging in fraudulent activities such as internet fraud (yahoo yahoo), kidnapping, or ritual killings in pursuit of quick wealth.

“These are not the values NYSC has instilled in you. You have served to become responsible members of society,” she said.

“Represent your family well, be a good ambassador of Nigeria, your institution, and the NYSC.”

She also advised the corps members to carefully check their National Service certificates for errors before laminating them.

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The News Agency of Nigeria (NAN) reports that a total of 1,652 corps members passed out in Bauchi State, comprising 1,118 males and 534 females.(NAN)

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