Thursday, 25 July 2024

Real Madrid boss Carlo Ancelotti asks Florentino Perez to sign Cristiano Ronaldo’s 24-year-old Portugal teammate: Reports

By: Bright Williams

Real Madrid boss Carlo Ancelotti has reportedly asked club president Florentino Perez to sign Cristiano Ronaldo's Portugal teammate Vitinha. The 24-year-old midfielder has been one of the most exciting players in his position, dazzling with Paris Saint-Germain and being a shining light in Euro 2024.

Cristiano Ronaldo and Portugal didn't reach the heights they were expected to get to at Euro 2024, losing out to France in the quarter-final. Yet, Vitinha was one of the notable players who looked insistent on making a difference during his four appearances.Last season, the versatile midfielder was a remarkable presence for PSG, playing 46 games in all competitions, while scoring nine goals and providing five assists. He is capable of playing across the midfield, as well as influencing the game from the flanks if necessary.

His quality has not been ignored by Real Madrid manager Carlo Ancelotti, and according to El Nacional, the Italian coach wants him on the Los Blancos squad. Club legend Toni Kroos made the decision to retire from the game, which has left a spot open to be filled in the midfield.While players like Federico Valverde and Jude Bellingham are capable of filling in the gap, Ancelotti sees Vitinha as a better option. However, it is expected to be a costly venture of above €50 million, as the Parisians have no particular intentions of selling him this summer. It is believed that Vitinha, who has played with Cristiano Ronaldo, has already shown some interest in joining Real Madrid.

Real Madrid legend urges Croatia midfielder to retire

Real Madrid legend Predrag Mijatovic has urged midfielder Luka Modric to retire and end his time at the Santiago Bernabeu on a high. The 38-year-old Croatian midfielder has seen teammates like Toni Kroos and Casemiro leave the club, with the German retiring from the sport. Cristiano Ronaldo also left in 2018.However, Modric has opted to sign up for another year at the Bernabeu. This has not sat well with Mijatovic, who said on Cadena SER (via Forbes):

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"Luka had an offer from Saudi Arabia and he rejected it, this summer he has also had offers for a lot of money but he has decided to stay. He has already made up his mind that he is no longer an undisputed starter, he realised that last season and he already knows that he is not a starter.

"He's going to be 39 years old and I think he's close to retiring from Real Madrid, I don't know if he'll make it to the World Cup, you never know and with Luka even less, but I think it's time to retire, and if it can be at Madrid even better."

Luka Modric will most likely complete this season as his last at the Santiago Bernabeu. This is especially if he struggles to find any playing time among the younger options at the club.

Construction begins at Midoil refinery

By: Dare Olawin

Mhidoil Refining and Petrochemicals Company Limited has finally performed the turning of sod ceremony, marking the commencement of construction activities in Lagos.

The turning of the sod took place at Shekungba, Ikosi/Ejinrin Local Council Development Area of Lagos State recently.

The Executive Chairman of Midoil, Mrs Elizabeth-Omolara Akintonde, led dignitaries to the large expanse of land spanning various communities at Ikosi/Ejinrin Local Council Development Area.

Akintonde assured leaders and members of the communities that the refinery would transform their areas by bringing immediate development, creating both direct and indirect jobs.

She commended the village heads for refusing to be misled by some individuals who tried to bribe them to renege on their agreements.

Akintonde, whose 74th birthday coincided with the turning of the sod, stated that the Midoil refinery would boost Nigeria’s energy landscape with a refining capacity of 100,000 barrels per day.

“All these bushes you see today, in the next couple of months, you will see them no more,” Akintonde stated, assuring the people of her determination to see the project to reality.

One of the Directors of Midoil and Chairman of Serenecity Staff Housing Estate, Hajia Amina Abdullahi, expressed joy that the project had finally commenced after over a decade delay.

“We have faith in God that we will witness the inauguration of the refinery. We know this is a big project that will go through many processes, but with the turning of the sod today, we have taken the right step,” she stated.

A founding member of the proposed refinery, retired Justice Olusola Hunponu-Wusu, opined that the country needed more refineries to boost its refining capacity and stop fuel importation.

Hunponu-Wusu advised the country to ramp up its current low oil production, expressing confidence that feedstock would not be a setback when the Midoil refinery finally comes on board.

While performing the turning of the sod, the Bishop of Lagos Anglican Communion, Ifedola Okupevi, prayed for the completion of the project at the right time.

The Real Africa News recalls that the Chairman of Midoil, on March 17, 2024, signed agreements with the representatives of Shekungba, Arogbo and Ererufu, presenting cheques to the host communities.

She explained that a large expanse of land was acquired from the administration of former Governor Babatunde Fashola of Lagos, stating that the land allocation letter was received from the Lagos State Government on April 24, 2014.

“Subsequently, on January 24, 2017, we got the licenses to establish the refinery from then Department of Petroleum Resources,” she remarked.

Akintonde said: “It has taken Midoil 10 years to secure interested investors that are willing to invest in Nigeria and our project. But to the glory of God Almighty, we now have three consortiums of investors willing to invest $5bn with us.

 “The sourcing of the required funding from overseas has been the major reason for the delay.”

Tinubu’s Lagos traditional stooges plot Oro festival for August 1 to counter protest

Mr Akosile advised the protesters and Oro adherents not to stand in each other’s way to prevent breakdown of law and order. 

There appears to be plans to counter the #EndBadGovt protest in Lagos State as traditional worshippers are set to hold Oro Festival across the state.

This was disclosed in a notice to residents and visitors which went viral on social media on Wednesday.

The notice read, “Please be informed that the Oro Festival will be observed in various communities across Lagos from 1st of August to August 15. This traditional Yoruba cultural event involves significant rituals.”

Suspiciously, the timeframe of the Oro ritual coincides with the #EndBadGovt, but the state government has however denied having a hand in the cultural event.

Speaking to Peoples Real Africa News on Wednesday, Gboyega Akosile, the Special Adviser on Media and Publicity to Governor Babajide Sanwo-Olu, however noted that, like the youths intended to exercise their right to protest, traditional worshippers also have the right to perform their activities.

Mr Akosile however advised the protesters and Oro adherents not to stand in each other’s way to prevent breakdown of law and order. 

He said, “I saw it just like every other person did. Did you see any signatory to this statement? The answer is no! If it’s not endorsed, then it’s a nullity. However, traditional religious worshippers have the right to carry out their worship at any time. Whether it coincides with the dates of the protests or not. I’m not sure it removes anything from the fact that they have their right to carry out their traditional worship.

“You want to protest, I want to do my worship, it’s my right. It is now right versus right. As long as your own right does not disturb my own right, there won’t be crisis, let everybody be doing their thing.’’

Mr Akosile however noted that if the protest turned violent, security agencies would be on hand to ensure that it didn’t turn bloody.

Recall that ahead of the 2023 general elections in the state, Oro Festival was also declared with residents witnessing pots of rituals placed on several junctions and in front of some houses across the state.

Three days to the March 18, 2023 governorship election in the state, the traditional ruler of the Ikate-Elegushi Kingdom, Saheed Ademola, was reported to have declared a three-day “Oro rites,” claiming the festival was an annual event.

It was however believed that the scheduling of the ritual event was to prevent voters opposed to the ruling party from voting freely for candidates of their choice. 

Navy uncovers illegal bunkering site in private residence

An official said the property's owner has been arrested.

By Agency Report

The Nigeria Navy has apprehended two suspected oil thieves operating an illegal bunkering site concealed in their private residence in Rivers, an official has said.

The Commander, Nigeria Navy Ship (NNS) Pathfinder in Port Harcourt, Desmond Igbo, said this on Wednesday, when he took reporters to the site in the Okwuzi community of Ogba/Egbema/Ndoni Local Government Area of Rivers on Wednesday.

Mr Igbo, a commodore, said that during a raid on the building, the naval operatives discovered 200,000 litres of illegally refined diesel stored in the compound.

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“The operation was conducted based on credible intelligence, leading us to a private compound used solely for illegal refining of petroleum products.

“About 200,000 litres of illegally refined diesel, bagged in sacks, are suspected to be a product of crude oil siphoned from pipelines in the area,” he said.

Dangote Refinery

Mr Igbo described the operation as timely, adding that the product was already packaged for sale.

“We arrested the owner of the property and one of his workers, while efforts are ongoing to arrest others involved in the criminal act.

“Recall that a few weeks ago, the Nigerian Navy relaunched phase three of Operation Delta Sanity aimed at curbing crude oil theft, illegal bunkering and related illicit activities in the Niger Delta.

“The stealing of crude oil is bad for the economy, and so, NNS Pathfinder is determined to apprehend those undermining the nation’s economy, whether on land or water,” Mr Igbo said.

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He further said the suspects would be handed over to the prosecuting agencies.

According to him, the illegal bunkering site has been sealed while investigation has commenced.

Mr Igbo said that the Chief of Naval Staff, Emmanual Ogalla, has charged naval forces to enhance surveillance around the oil installations to meet the target.

“Therefore, youths are cautioned to avoid being used as tools for sabotaging the nation’s economy through oil theft, pipeline vandalism, illegal bunkering and other illegal activities,” he said.

(NAN)

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Thursday, 23 May 2024

CBN orders existing BDCs to reapply for new license

 By Babajide Komolafe

The Central Bank of Nigeria, CBN yesterday released new operational guidelines for Bureau De Change, BDCs, and directing existing operators to reapply for new licenses and six six-month deadlines to meet the new minimum capital requirements.

The new guidelines introduce two categories of BDCs, Tier 1 and Tier 2, with minimum capital requirements of N2 billion and N500 million respectively.

The new guidelines were released yesterday via a circular to all BDC operators and stakeholders in the financial services industry.

Among other things, the new guidelines limited the foreign currency holdings of BDCs (Net Open Position, NOP) to 30 per cent of shareholders’ funds unimpaired by losses. It also limited total borrowing to 50 per cent of shareholders’ funds unimpaired by losses.

Titled, “Regulatory and Supervisory Guidelines for BDC Operation in Nigeria”, the circular was signed by the Director, Financial Policy and Regulation Department, Haruna Mustafa.

The circular stated: “As part of reforms to re-position the Bureau De Change (BDC) sub-sector to play its envisioned role in the foreign exchange market in Nigeria, the Central Bank of Nigeria (CBN) issued the Draft Operational Guidelines for BDC Operations in Nigeria in February 2024, for stakeholder comments/inputs.

“Following the conclusion of the stakeholder consultations and in the exercise of the powers conferred on it by Section 56 of the Banks and Other Financial Institutions Act (BOFIA) 2020, the CBN hereby issues the attached Regulatory and Supervisory Guidelines for Bureau De Change Operations in Nigeria 2024 for compliance by all operators and promoters of proposed BDCs in Nigeria.

“The Guidelines, amongst others, introduce new licensing requirements and categories of BDCs as well as revise the permissible activities, financial requirements, corporate governance requirements and AMUCFT/CPF provisions for BDCs.

“All existing BDCs shall; Re-apply for a new license according to any of the Tiers or license category of their choice as provided in the Guidelines;

“Meet the minimum capital requirements for the license category applied for within six (6) months from the effective date of the Guidelines.”

Saturday, 17 February 2024

Nigeria: What the mirror says…, by Obi Nwakanma

I return to the Orbit column this week, after a sorrowful time. I apologize to my readers for my long silence. I have used this time to ruminate and mourn my brother, Chukwuma, who died suddenly and unexpectedly on November 28, 2023, and we buried him on December 27, 2023.

He was born in Ibadan, studied Communications at the Institute of Management and Technology (IMT) Enugu, after trying severally for admissions into Medical School.

But his natural talents were in Engineering. He liked to break things up and fix them, from childhood.

He loved Electronics. He would have made a formidable Engineer. He was very observant, and had a keen sense of detail, thus his love of photography. He would have made a fantastic cricket batsman and wicket keeper, although he chose football – soccer – and was very good at it.

He kept the goals for his High School Football First IX in his time, and for our town’s FC, from which he earned a longstanding reputation. His peers called him “Durango.”
After IMT, he internchild.re at Vanguard, and was a stringer for a while, and then joined the Nigerian Television Authority (NTA), where he rose to be Senior Reporter, at their Umuahia station. He drove himself to hospital at the FMC Umuahia on November 28, 2023 with a very high blood pressure.

He did not make it out alive. He died within three hours of bringing himself, not expecting to die, at the hospital, possibly from an aneurysm, the result of a blood pressure that had climbed to 240. He was my “little” brother, the middle child.

In all these, my 85-year-old mother has been the worst hit: she buried her own last brother, whom we brought home to be buried from the United States on December 23, and four days later, she buried her third son, and fourth child.

My brother was clearly careless with his own health, from all I have managed to discern, but he was also a victim of a very poor, primitive health service.

The quality of care at the Federal Medical Center in Umuahia, and the level of professional service is so dubious, and the facilities so primitive, that it clearly led to my brother’s untimely death. There is a great need to overhaul, and reposition these institutions, that are supposed to be frontline, in providing high quality specialized care and top range medical research and service. They exist in names only.

But here is not the place to tell the story of how poor professional handling led to the death of my brother, a Senior News reporter at the Nigerian Television Authority. That story has to wait.  

But here is my way of saying, my brother Chukwuma’s death, mirrors the tragedy of Nigeria, where life is now brutish and short, and this is no longer a matter of platitudes. Nigeria bleeds. Nigerians gnash their teeth like no other time in living memory.

Things have been tough for a long time in Nigeria. But this is now hell.

I saw this, this past Christmas when I came home to bury both my uncle and my younger brother.

I have been too traumatized by these deeply personal deaths to find both the words, and the reserve to talk about it.

But I felt outraged – and I am very sure a lot of Nigerians felt it too – when this Mac Flecknoe character called Femi Adesina, ex-this and that for Buhari, continued to insult Nigerians with the lie of a book called, Working with Buhari: Reflections of a Personal Adviser.

From what I can deduce, having not read that lump of vertiginous self-adulation from what I’ve been told, the book has little depth.
It is mostly anecdotal.

But I saw its launch on Youtube: it was a gathering of vipers. They were trading insider jokes about how they raped and ruined Nigeria; and they were sharing guffaws.

I could not help but pity the former Vice-President, Mr. Yemi Osinbajo, a former Law Professor, and quite clearly one of the most mediocre Vice-Presidents ever produced in this country.

The only image of Yemi Osinbajo which Nigerians will remember forever is of him as a bag-carrier.

He who was sent around the markets, selectively distributing and handing “trader moni” – a form of political “commie” or vote-buying that could have put Tammany Hall to shame– for the government of Buhari.

He was outside, looking in. He was just simply, otherwise, “photo.” That is, he was mostly seen, but never heard on real issues.
That was his choice. His most prominent achievement was to be the “gentle face,” of a very ugly and vicious administration, speaking la-di-da when the occasion called for it. The occasion called again for it three weeks ago, when this tome of infamy, Working with Buhari, by Femi Adesina, was trolled out in a public launch, aimed at celebrating Buhari, and cleaning him up quite some.

Still La-Di-Da-ing, Yemi Osinbajo said, and I’d like to quote him fully: “There have been quite a few books already written about President Buhari, and they cover a lot of detail; a lot of it historical, and of course, several about his numerous achievements since he first came into office in 1983.But the reason why this personal account will be interesting for those who read it, and I have the particular good fortune of having read it before today, is that even after eight years of being president, and so many books written about him, President Buhari still remains an enigma to many Nigerians who want to understand, who really is President Buhari. Not the public persona. But who is he as a person?

“And I think Femi Adesina has done a great job, especially in covering an aspect of the former president that is not so well known, which is his sense of humour, his ability to tell a good joke, and to take a good joke. His ability to laugh at himself. I have a long repertoire of Buhari jokes, and Femi has helped me to add a few more, and one day soon, we will launch a book, this time not “working with Buhari, “ but “laughing with Buhari.”

I see, Mr. Trader Moni! It was all a joke to you all. The thing however is that Nigerians did not find it funny. In any case, Osinbajo cut a very tragic and sorry figure in that hall, for laughing very hard with Buhari already was Tinubu, Osinbajo’s political nemesis.
Enough said on this. What needs be said is that Adesina’s book is already dead on arrival.

It will join the graveyard of inconsequential hagiographies, stuck on the shelves of obscure libraries as a collector’s item, gathering dust, unread, and joining the likes of Chidi Amuta’s Prince of the Niger: a very princely non-event. That is the fate of all hagiographies. Again, enough said on this. But I should say what every Nigerian already knows: Adesina’s attempts to parlay Buhari might earn him his payday, but fact is, Buhari will be a minor figure in Nigerian history, a coma. That is his fate.

He will be thought of as a man who had begged for an opportunity for redemption, but wasted it, fighting shadows.

He will symbolize the tragic failure of a nation. Compared to his generation – Gowon, Murtala, Obasanjo, Babangida, Abacha, Abubakar – Buhari will be seen as an inconsequential, bigoted, provincial, maniacal, non-event who hated Nigerians, and despised anybody south of Daura.
Buhari’s greatest achievement is that he led a failed Jihad against Nigeria, and tried to actively ruin, subdue, and weaken it, in order to make it possible for his Fulani kinsmen coming from all over West Africa to overrun and settle it.

Buhari did not run a Federal Government of Nigeria. He ran a criminal enterprise.
This is the enterprise which Bola Tinubu has inherited, and continues to run. Today, the Naira is in free fall. There is energy crisis, kidnappings and executions all over the place.

A pall of insecurity and listlessness pervades the nation. No one feels safe. Even the pseudo-monarchs are now routinely being abducted and killed in their own homes.
The prices of commodities have upped beyond the reach of regular folk. Nigerians are hungry and they have been turned into beggars. I watched, again on Youtube, just this past week, people throwing yams from a truck, by a mosque in Lagos, at folks scrambling for the yams, and crying, “Ebi npawa wa o!” (we are dying of hunger!).
I shed tears. Nigerians are very dignified people. To reduce these proud dignified people to beggars is a great unforgivable sin. But it is the greatest achievement of Buhari, Osinbajo, and Tinubu’s APC.

I could just imagine, at the book launch on Buhari, seeing Tinubu and Buhari laughing and guffawing together, while Nigerians were outside hemming and hawing from hunger, and going home before their mirror and saying, “Mirror! Mirror on the wall! Who’s the greatest in the land?”

I hope the mirror said exactly what feels very near and yet so far away: the rustle in West Africa. West Africa is in turmoil because no one trusts Nigeria or takes it seriously anymore.

Everyone thinks Nigeria and its leadership, particularly her president, is a joke. Mali, Burkina Faso, and Niger, leaving ECOWAS signifies the end of Nigeria’s regional leadership.

But there is also something else that the mirror says: Young officers in the Nigerian Armed Forces are watching, restless, calculating, and they already have a reason to strike. If they strike, it will be bloodier than January 15, 1966.

Many like me hate this option. But those who think it is impossible, or too far-fetched, do not have the benefit of history. This democracy seems already doomed. What it has delivered to Nigeria is hunger and extreme corruption.

Friday, 16 February 2024

Nigeria Gets $30bn Investment Commitments From Foreign Firms

The Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, has said the government of President Bola Tinubu has gotten commitments from foreign companies to invest close to $30 billion in Nigeria in areas ranging from steel to oil and since it took in May 2023.

The minister was speaking at a ministerial press conference at Radio House in Abuja on Friday along with the Minister of Information and National Orientation, Mohammed Idris.

Uzoka-Anite named one of India’s biggest steel company as a potential investor in Nigeria, with others Indian companies committing to invest about $14 billion inNigeria.

Uzoka-Anite also said there are investment commitments of about $1O billion in oil and gas industry, which will produce five of the 10 million jobs are ministry plans to generate.

She dispelled reports that Shell Petroleum is planning to fold up operations in Nigeria, saying even though the company is selling off assets, it is actually expanding operations in gas production.

She said, “On our bilateral engagements have been fruitful and have led to significant investment announcements and partnership opportunities for Nigerian trade.

“A notable example is the G20 summit in India, where a $14bn worth of FDI inflow to Nigeria was announced and being actualized. Since then, we have seen the Confederation of Indian Industries visiting Nigeria to further explore identified investment opportunities.”

The minister said, “These engagements with India, Germany, Netherlands, UAE, South Africa, and others have opened up avenues for investment and the establishment of joint regulatory protocols.”

She said, recently, we signed an MOU on Enhanced Trade in Partnership (ETIP) with the United Kingdom, where we have extensively discussed the issue of joint regulatory protocols.

This, she said has culminated in the signing of the Enhanced Trade and Investment Partnership Agreement.

She said, “This agreement facilitates smoother trade processes, allowing Nigerian businesses to export more goods to the UK.

“It also provides capacity building and sensitization for Nigerian exporters on how to benefit from the UK Developing Countries Trading Scheme (DCTS), which enables Nigerian exporters to export up to 3000 different agricultural products to the UK with beneficial terms.”

She said the partnership also encourages UK investors to explore Nigeria’s most promising sectors, working towards increasing reciprocal Foreign Direct Investment.

This cooperation, she said, aims to spur economic growth through investments in infrastructure, technology, and manufacturing.

Furthermore, she said, the Regulatory Cooperation on Technical Barrier to Trade (TBT) makes it easier for Nigeria to trade goods with the UK by preventing, identifying, and eliminating unnecessary technical barriers.

She said that this cooperation promotes good regulatory practices and identifies trade facilitation initiatives leading to the convergence of technical regulations, standards, and conformity assessment procedures with relevant international standards.

The minister also said that these engagements and agreements are a testament to our commitment to fostering international relations that benefit Nigerian trade and investment.

She said, “They represent a significant step towards our goal of economic diversification and sustainable growth.

“However, we must acknowledge some of the prevailing challenges. Infrastructure deficits, bureaucratic bottlenecks, and regulatory complexities remain hurdles to overcome.

“Additionally, external factors such as fluctuating commodity prices and global economic uncertainties pose risks to our economic stability. Yet, we are undeterred in our resolve to address these challenges head-on, seeking innovative solutions and fostering collaboration across sectors.”

She said, “We will also be engaging more with the private sector to get closer to the business community and resolve their challenges. We will do this by having more sectoral stakeholder engagements.

“It is through this collaboration that we can fully unlock the potential of our nation and create an environment where businesses thrive, innovate, and contribute significantly to the socio-economic development of our great nation.”

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