Obasanjo To AfDB Board: Ignore America’s Threat On Akinwumi Adesina

May 28, 2020

Former President, Chief Olusegun Obasanjo

Ex-Nigerian President, Olusegun Obasanjo, has called on the board of the African Development Bank (AfDB) to ignore calls for an independent investigation of its President, Akinwumi Adesina, by the United States Government.

In a letter dated May 26 to Kaba Niale, Chairman of the AfDB board of governors, Obasanjo advised the bank to follow laid down processes to protect and preserve the bank.

He asked African leaders to speak against introduction of alien practices being recommended by some parties given that such recommendation falls outside the laid down procedures, laws, rules and regulations of the bank.

“Unfortunately, the United States Government, through the US Treasury Secretary, has written a public letter (that was also distributed to the press globally) to disagree with the conclusions of the ethics committee of the board of directors and the Chairman of the board of governors of the bank.

“Instead of accepting the exoneration of the President of the bank, they called for an independent investigation.

“This is outside of the rules, laws, procedures and governance systems of the bank. The US Treasury Secretary disparaged the bank and ridiculed the entire governance system of the bank “This is unprecedented in the annals of the African Development Bank Group. If we do not rise up and defend the African Development Bank, this might mean the end of the African Development Bank, as its governance will be hijacked away from Africa.

“As Africa faces COVID-19, Dr Adesina again took bold measures to ensure the bank can respond proactively to support African countries and got its board of directors to approve a $10bn crisis response facility to support African countries. In addition, the bank successful launched a $53bn “Fight COVID-19” social impact bond on the international capital market.”

The United States Department of Treasury had called for an independent of the allegations against Adesina despite the AfDB clearing him of all wrongdoing.

Coronavirus Pandemic: Buhari Wants Debt Cancellation For African Countries

Editorial staff

May 28, 2020

President Muhammadu Buhari hascalled on developed countries and international financial institutions to cancel the debts of needy countries, especially in Africa, to enable them reverse the devastations of coronavirus to the human race.
The Nigerian leader, in a virtual meeting tagged ”High-Level Event on Financing for Development in the Era of COVID-19 and Beyond,” convened by Canada, Jamaica and the Secretary-General of the United Nations, said: “this is a historic plague affecting every corner of the globe.

“In the circumstances, the response needed must be global, unconditional, comprehensive, and rapid. “Debts must be forgiven and cancelled. Free additional resources are needed urgently through an international consensus to enable poor countries work to reverse the devastations of COVID-19 to the human race.

”Rising now and standing together in true global solidarity to my mind is the only hope for humanity, the best approach to safeguarding the 2030 SDGs and the only way we can build back for more resilient economies and societies.”

President Buhari cautioned major nations against adopting a ”me first” and ”every man for himself” attitude, warning that the consequences for all of us in the 21st century can only be imagined.

“The world has changed through COVID-19 and so must the global financing architecture for development financing and the response to the current pandemic. There is an urgent need for weak and needy countries especially those of Africa, to receive a fresh reprieve.

“The President used the occasion to apprise the international community on the devastating impact of the pandemic on the Nigerian economy, the health sector and efforts by his government to mitigate the crisis.

”For Nigeria, the shocks are multiple, including the sharp decline in international oil prices which has negatively impacted revenues and growth, worsened external and domestic positions, and further increased banking sector vulnerabilities, resulting in enormous human and economic toll on the country.

”We have been proactive in implementing a number of strong measures, including fiscal, monetary and structural policies, and a multi-front response to the health crisis created by COVID-19 which captures all tiers of Government as well as the private sector.

”Our objective is to revert to the government’s planned medium-term fiscal consolidation path once the crisis is over. Our strategy for macroeconomic stability is anchored on our home-grown Economic Recovery and Growth Plan (ERGP).”

President Buhari said Nigeria had revised its 2020 budget downwards and shifted emphasis to response activities towards bridging the critical gaps in the health infrastructures to strengthen national response to coronavirus and other diseases.

On demographics and health, the President told the meeting that with an estimated population of 200 million and a large segment of economically vulnerable population, Nigeria had a high burden of communicable and non-communicable diseases.

”This level of disease burden, coupled with poverty level and Nigeria’s weak system; the COVID-19 pandemic is certainly jeopardizing and reversing the gains already made by the Government and its partners including in such other areas as outbreaks of Lassa and yellow fevers and measles,’’ he said.

Nigeria recorded its first confirmed case of COVID-19 on 27th February 2020. Since then, the country has seen a steady increase in the number of cases, with 8,733 confirmed cases, out of which 2,501 have been discharged and 254 deaths reported across 35 states as at 27 May 2020.

More than 50 Heads of State and Government as well as heads of international organisations participated in the High-Level Event on Financing for Development in the Era of COVID-19 and Beyond.

Kogi Rejects Coronavirus Result Of 2 Positive Cases

Editorial staff

May 28, 2020

Kogi State government has rejected the result making the rounds of two positive cases of coronavirus in the State.

In a statement yesterday evening, May 27, the State commissioner of health, Dr. Saka Haruna Audu said that the State, till this very moment, “is Covid-19 free. We have developed full testing capacity and have conducted hundreds of tests so far which have returned negative.

“We have also continued to insist that we will not be a party to any fictitious Covid-19 claims which is why we do not recognise any Covid-19 test conducted by any Kogite outside the boundaries of the State except those initiated by us.

Any attempt to force us to announce a case of Covid-19 will be vehemently rejected.”

The commissioner said that the state government would continue to enjoin the people to take all necessary precautions to prevent the spread of the Covid-19 pandemic into the State.

He called on the people not to “give listening ears to rumour peddlers and mischief makers.”We are more than prepared to secure the life of our people and have no interest in playing politics with their Health concerns.”

I’ve Not Violated AfDB Code Of Ethics, Adesina Protests As US Threatens Him With Probe

Editorial staff

May 27, 2020

The President of African Development Bank (AfDB), Akinwumi Adesina, has made it clear that he is innocent of allegations of corruption against him, against the background of the threat by the call by the United States Department of Treasury for an independent corruption probe of his leadership of the bank after he was cleared by the bank’s ethics committee.

In a statement he signed today, May 27, Adesina who is former Nigeria minister of Agriculture, said that he remained positive that ultimately, the bank will emerge stronger than before and continue to support Africa’s development drive.”

“I am confident that fair, transparent and just processes that respect the rules, procedures and governance systems of the bank, and the rule of law, will ultimately prove that I have not violated the code of ethics of this extraordinary institution.”

He assured that he will continue to work with all shareholders to ensure that AfDB maintains its global reputation and that its credible institutional and governance systems are reinforced.

Adesina said that he would continue to work collectively with other stakeholders to fulfil the mission of the bank’s founders to accelerate and transform Africa’s development.

Nigeria Advises Africa To Shame WHO Which Predicted Over 100,000 Coronavirus Death

Editorial staff

May 27, 2020

Nigeria has made a wakeup call to other African countries to shame the World Health Organization (WHO), which predicted recently that many African countries would record over 100,000 coronavirus deaths within one year.

“Studies have shown that Countries in Africa are so far experiencing a lower rate of transmission, fewer severe cases, and fewer deaths than had been predicted in previous estimates. “A recent publication by WHO on risk modeling for 47 countries in the Africa Region predicts 82,000-190,000 deaths during the first year of the pandemic.

“However, African countries need to take measure to respond to this worst-case situation while also ensuring continuation of existing services would certainly stretch our already burdened health systems.”

The Secretary to the Government of the Federation (SGF) and Chairman of Presidential Task Force (PTF) on coronavirus, Boss Mustapha, who spoke today, May 27 at the daily briefing of the Task Force activities, stressed that countries in the frican region needed to progressively increase their capacity to detect cases, “not just to know the extent of the outbreak, but also to identify and initiate care for people most at risk. They also need to expand capacity to mitigate the implications of widespread community transmission of COVID-19.

“Above all, more research to determine the underlying factors for the current trend in the pandemic in Africa is needed.

“In addition to pursuing this line of thought, the occurrences in Kano and some other cities have given us cause to launch our research initiatives using existing structures and systems in a manner that will build a legacy and also prepare Nigeria for any future pandemic.”

Boss Mustapha said that Nigeria had already validated three out of numerous claims of coronavirus local cure, saying: “as a measure of the importance attached to research and development of local capacity for finding a cure to the COVID-19, the Federal Ministry of Health held a virtual meeting with a number of researchers and scientists with claims to cure for COVID 19 and out of the numerous claimants, three were found to deserve further investigation and have been forwarded to the relevant authorities for appropriate review.

“Similarly, efforts are being made by the Federal Ministry of Science and Technology to subject a good number of locally manufactured COVID 19 equipment to verification and subsequent certification.” He said this followed the Federal Ministry of Health virtual meeting with a number of researchers and scientists with claims to cure for COVID 19.

“The PTF is happy to note that the Central Bank of Nigeria has indicated the willingness to support research efforts. This is therefore, a call on our researchers and scientists to take up the challenge.”

Boss Mustapha reiterated the PTF’s advisory against self-medication in treating coronavirus, particularly, the use of Hydroxy-chloroquine because it had not been certified for use in treating the virus.

“We have read in the media about the side effects of the use of this drug from COVID-19 patients that survived as well as those who took it outside clinical supervision.

“The World Health Organization (WHO), has temporarily suspended all clinical trials of hydroxychloroquine as a potential treatment for COVID-19.

“ This advice was informed by a study which identified that the use of hydroxy-chloroquine, either alone or with other drugs, has been responsible for a high number of deaths.

“This precautionary measure by the WHO underscores the importance of not only seeking expert medical advice but also ensuring that all claims to treatment by scientists and researchers, whether conventional or traditional should be subjected to scientific certification protocols by NAFDAC and other relevant institutions so as to guarantee the efficacy of the discovery.”

CBN Reduces Interest Rates On Other Financial Institutions

Editorial staff

May 27, 2020

The Central Bank of Nigeria (CBN), has announced the reduction of interest rates on its facilities through participating Other Financial Institutions (OFIs) from nine percent to five percent per annum for one year, effective from March 1, 2020.

In a circular in Abuja today, May 27, signed by the Director, Financial Policy and Regulation Department , Kevin Amugo, the apex bank also announced that its intervention facilities obtained through participating OFIs – Microfinance Banks (MFBs), Primary Mortgage Banks, and Institutions, among others, “will be given a further one-year moratorium on all principal repayments, also effective March 1, 2020.”

According to the circular, OFIs have equally been granted leave to consider temporary and time limited restructuring of the tenor and loan terms for households and businesses affected by coronavirus, subject to the recently issued guidelines for restructuring affected credit facilities in the OFI sub-sector.

The Bank’s Director, Corporate Communications Department, Isaac Okorafor, also said that the Management’s approval for the restructuring of credit facilities in the Other Financial Institutions (OFI) sub-sector was in line with the Bank’s desire to alleviate momentary strain on households, businesses and regulated institutions triggered by the lockdown due to coronavirus.

According to Okorafor, the apex bank would continue to monitor developments and implement appropriate measures to safeguard financial stability and support stakeholders impacted by the COVID-19 pandemic.

Meanwhile, the Monetary Policy Committee (MPC) meeting of the CBN for the month of May, has been scheduled for tomorrow, May 28.

FCT Minister Of State, Ramatu, Advises School Children Not To Be Lazy During Lockdown

Editorial staff

May 27, 2020

Minister of State in the Federal Capital Territory (FCT) ministry, Dr. Ramatu Tijjani Aliyu has advised school children caught up by the coronavirus lockdown in the territory not to be lazy. She asked the children to turn the coronavirus lockdown period into productive venture to learn new things from their parents and immediate environment.

In a message to the children today, May 27, to mark the 2020 Children Day, Dr. Ramatu said: “the Federal Government and the indeed the FCT Administration are doing everything within their powers to see that the COVID19 pandemic comes to an end soon. You also must play your own part as well.

“Observe all the protocols of social distancing, facial covering and constant handwashing or use of hand sanitizers. I also want you to use this opportunity to learn new things from your homes and also from your immediate environment.

“You should read new books and even learn to cook while also paying attention to your online lessons as if you are in the classroom.”

The minister, who conveyed a message of solidarity to the children from the FCT Minister, Malam Muhammad Musa Bello, referred to the theme of this year’s celebration which is “Promoting Girl Child Education for Sustainable Development”, and said the education of the girl-child is of paramount importance to the FCT Administration.

According to her, education of a girl child is often equated with education of a nation, adding that the FCT is promoting programmes to ensure that no girl is left behind in the quest for education.

“As part of these measures 20 vulnerable girls have been supported with scholarship grants to the FCT College of Education, Zuba. The girls have been on scholarship since their senior secondary education. This is in addition to scholarship awards to over 200 orphaned girls across the Territory.

“The FCT Administration has also trained gender officers in the management and response to gender based violence in schools as well as promotion of disability rights in schools for girls living with disabilities.

“Trainings were also carried out for school heads and teachers across the FCT on making schools friendlier and safer for girls. This in addition to training them on providing psycho –social support and trauma management for girls who are survivors of sexual based violence in FCT schools.”

Dr. Ramatu called on the children to imbibe the virtues of honesty, discipline, hard work, moral uprightness and obedience to constituted authority.

She said that children have been identified as national and global leaders of the future, adding that those virtues are essential character traits required for the building of an ideal society.

She advised them to shun all acts that might negatively impact on their lives such as dishonesty, cultism, truancy and moral decadence.

This is even as she advised parents to make the education of their daughters a priority, even as she wished all children in FCT a happy Children’s Day celebration.

WHO Warns: Coronavirus Still In First Wave, To Increase In Second Wave

Editorial staff

May 26, 2020

The World Health Organisation (WHO) has said that the world remains mired in only the first stage of the pandemic, putting a damper on hopes for a speedy global economic rebound.

WHO’s executive director, Dr Mike Ryan said: “right now, we’re not in the second wave. We’re right in the middle of the first wave globally.

“We’re still very much in a phase where the disease is actually on the way up,” Ryan said, pointing to South America, South Asia and other parts of the world.

India, with a population of over 1.3 billion, saw a record single-day jump in new cases for the seventh straight day. It reported 6535 new infections Tuesday, raising its total to over 145,000, including close to 4200 deaths.

Most of India’s cases are concentrated in the western states of Maharashtra, home to the financial hub of Mumbai, and Gujarat. Infections have also climbed in the east as migrant workers stranded by lockdowns returned to their native villages from India’s largest cities.

In Brazil, where President Jair Bosonaro has raged against state and local leaders enforcing stay-at-home measures, WHO warned that before reopening the economy, authorities must have enough testing in place to control the spread of the virus.

Brazil’s President

Ryan said Brazil’s “intense” transmission rates means it should keep some stay-at-home measures in place, regardless of the damage to the economy.

“You must continue to do everything you can,” he said.

America Records 100,000 Coronavirus Death, With Total Cases Now At 1.7 Million

Editorial staff

May 26, 2020

Coronavirus patient in critical condition

Report reaching us indicated that coronavirus death toll in the United States of America has now hit 100,000, with total recorded cases of 1,710,000 since the outbreak.

According to renowned data website, Worldmeters, the toll hit the mark today, May 26, whereas as at May 17, the figure was 90,000, with half of the number resulting to death in just one month. As at April 19, John Hopkins University and Worldometers, put their individual tallies at 40,000

The report clarified America as currently the worst-hit country in the world.

President Donald Trump and his administration’s officials insisted that China knows more than it is telling about the virus.

The American leader recently suggested that Beijing wanted him to lose the presidential election in November, but China maintains that it has nothing to hide and that the World Health Organisation (WHO) had cleared it of any wrongdoing.

NAFDAC Vows To Continue Use Of Chloroquine For Coronavirus Trial

Editorial staff

May 26, 2020

The National Agency for Food and Drug Administration and Control (NAFDAC), has vowed to allow the use of hydroxychloroquine for coronavirus clinical trials in Nigeria, despite its suspension by the World Health Organization (WHO)

The Agency’s Director-General, Professor Mojisola Adeyeye, said in a televised programme on TVC today, May 26, that NAFDAC “believes in hydroxychloroquine” and that it will continue clinical trials for hydroxychloroquine in Nigeria.

“There is data to prove that hydroxychloroquine worked for many covid-19 patients. Therefore, we would continue our own clinical trials in Nigeria.

“Hydroxychloroquine has been proved to work at a mild stage. So the potency depends on the severity of the disease in the patient’s body.

“If medical doctors, research scientists, pharmacists, herbal experts work together, we should conclude the clinical trial in three to four months. The narrative might change afterwards but for now, we believe in hydroxychloroquine.”

On why the virus has spread as much as it has in Europe and the US, Professor Adeyeye said: “it could be our weather or the vaccine we were given as kids but science would prove itself and we are working on gathering that data.”

Hydroxychloroquine is viewed as a possible treatment for the novel coronavirus and it gained further popularity when US President Donald Trump recently said he was taking the drug to keep coronavirus at bay.

Yesterday, May 25, the World Health Organization ordered for the discontinued clinical trials for hydroxychloroquine as a treatment for coronavirus.

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