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Fake COVID-19 vaccines in Nigeria, UK, others, Interpol warns
Nigeria, South Africa, the United Kingdom, the United States, and 190 other countries are at the risk of buying fake COVID-19 vaccines, the International Criminal Police Organisation (Interpol) has alerted.
It said these countries have come under the threat of organised criminal groups working to supply fake COVID-19 vaccines and steal genuine supplies.
Interpol raised the alarm as the UK Wednesday became the first country in the world to approve the Pfizer/BioNTech coronavirus vaccine for widespread use.
Already, Interpol said there had been a rise in the activities of the criminals who had started advertising and selling the fake COVID-19 vaccines, especially online.
The need for a vaccine has become more urgent with Nigeria recording over 67,000 COVID-19 infections and over 1,000 associated fatalities, according to the Nigeria Centre for Disease Control.
The World Health Organisation (WHO) has so far identified 49 “candidate vaccines” at the stage of clinical trials in humans.
Hopes are high that shots could be ready for use before the end of the year as two frontrunner vaccines – by Moderna and BioNTech/Pfizer – already reported that phase 3 trials for their mRNA vaccine showed 95 per cent efficacy in preventing Covid-19 symptoms and did not produce adverse side effects among thousands of volunteers.
In a statement on Wednesday titled, ‘Interpol warns of organised crime threat to COVID-19 vaccines’, Interpol Secretary General, Jürgen Stock stated, “As governments are preparing to roll out vaccines, criminal organisations are planning to infiltrate or disrupt supply chains.”
Stock said there was a need for coordination between law enforcement and health regulatory bodies to ensure the safety of individuals and wellbeing of communities are protected.
He also said, “Criminal networks will also be targeting unsuspecting members of the public via fake websites and false cures, which could pose a significant risk to their health, even their lives.
“It is essential that law enforcement is as prepared as possible for what will be an onslaught of all types of criminal activity linked to the COVID-19 vaccine, which is why Interpol has issued this global warning.”
According to him, 3,000 websites associated with online pharmacies are suspected of selling fake medicines and medical devices.
He advised residents of Interpol 194 member countries to take special care when going online to search for medical equipment or medicine.
Meanwhile, British Prime Minister Boris Johnson hailed the “fantastic” news of the vaccine approval, while urging the public to remain cautious on the day that England exited a four-week lockdown and re-imposed regional curbs.
“It’s the protection of vaccines that will ultimately allow us to reclaim our lives and get the economy moving again,” he said.
Health secretary Matt Hancock said that starting with care home residents and health and care staff, Britain’s state-run National Health Service will begin with 800,000 doses “early next week”.
That will be ramped up to “millions” of inoculations by the end of the year. Help is on its way,” he told BBC radio.
The breakthrough will encourage hopes the world can finally get back on course in 2021 after a year of traumatic losses, both human and economic.
The novel coronavirus has killed nearly 1.5 million people since the outbreak emerged in China 12 months ago. At least 63 million cases have been registered.
Pfizer Chief Executive, Albert Bourla, said the UK certification was a “historic moment in the fight against COVID-19”.
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Ex-Reps Speaker Dogara backs Tax Reform Bills
Ex-Reps Speaker Dogara backs Tax Reform Bills
Former Speaker of the House of Representatives, Yakubu Dogara, has urged Nigerian governors to contribute constructively to the controversial Tax Reform Bills rather than attempting to block them. Dogara made this appeal during a town hall meeting on the bills, broadcast by Channels Television.
He dismissed claims that the timing of the bills and the alleged lack of consultation with governors were sufficient reasons to halt the reforms.
Dogara prioritised national interest over regional or sectional biases in addressing the country’s challenges.
“When I decided to join this discussion, I received numerous calls pleading with me not to show up,” Dogara revealed. “But I believe leadership demands engagement, even when there are disagreements. We must rise above sectionalism and approach this with a national leadership mindset to solve our problems.”
The former Speaker also criticized governors, particularly from the North, for raising concerns about consultation. He argued that many governors fail to engage stakeholders when enacting laws in their states.
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“At the state level, how many people do governors consult when making laws? In some cases, these laws are written from their living rooms,” Dogara said. “Should the process stop because governors were not fully engaged? To me, the answer is no.”
Baba Yusuf, Group CEO of Global Investment and Trade Company, emphasized that the proposed tax reforms would benefit the North significantly.
He highlighted that the legal frameworks could address about 70% of the region’s multidimensional poverty. Yusuf also encouraged citizens to review the bills independently rather than relying solely on political leaders.
Taiwo Oyedele, Chairman of the Presidential Committee on Tax Reform, stated that extensive consultations were conducted with major stakeholders, including governors. He noted that most stakeholders overwhelmingly supported the bills.
Oyedele dismissed concerns raised by Governor Babagana Zulum of Borno State, who argued that the reforms might leave Northern states unable to pay minimum wage. “Our analysis and data do not support that fear,” Oyedele said.
The town hall discussion highlighted the need for constructive dialogue and leadership to ensure the successful implementation of the tax reforms, which are crucial for addressing Nigeria’s economic challenges.
Ex-Reps Speaker Dogara backs Tax Reform Bills
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$2.2bn Eurobond oversubscription by 300% pass mark for Tinubu’s reforms – Finance minister
$2.2bn Eurobond oversubscription by 300% pass mark for Tinubu’s reforms – Finance minister
The diverse range of subscriptions from multiple investors (local and foreign) to Nigeria’s $2.2 billion Eurobonds is a testament of the confidence in President Bola Ahmed Tinubu’s economic reforms, Minister of Finance and Coordinating Minister of the Economy, Mr. Olawale Edun, said yesterday.
The Eurobond had been oversubscribed by 300 per cent by investors from the United Kingdom (UK), North America, Europe, Asia and Middle East as at yesterday.
According to the minister, the peak orderbook of $9.0 billion was an expression of continued investor confidence in Nigeria’s sound macro-economic policy framework and prudent fiscal and monetary management.
The demand for the bonds came from a combination of fund managers, insurance and pension funds, hedge funds, banks and other financial institutions.
Edun said: “The successful issuance signposts increasing confidence in ongoing efforts of President Bola Tinubu administration to stabilise the Nigerian economy and position it on the path of sustainable and inclusive growth for the benefit of all Nigerians.
“The broad range of investor appetite to invest in our Eurobonds is encouraging as we continue to diversify our funding sources and deepen our engagement with the international capital markets.”
Central Bank of Nigeria (CBN) Governor Olayemi Cardoso said the outcome underscored the growing confidence of investors and the resilience of the Nigerian credit.
He described the strong demand as Nigeria’s “improved liquidity position and continued access to international markets to support the financing needs of the government.”
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Director-General, Debt Management Office (DMO), Ms. Patience Oniha said with the successful pricing of the bond notes on intra-day basis, Nigeria has registered a landmark achievement in the international capital market.
According to her, the size of the orderbook at approximately more than four times of the offer amount, and the strong and diverse investor base helped in pricing the new bond notes.
“The DMO remains committed to maintaining transparency and open communication with investors and stakeholders and appreciates the continued confidence and support of the international and Nigerian investors who participated in the pricing.”
She added that the new notes would be admitted to the official list of the UK Listing Authority and they are available for trade on the London Stock Exchange’s regulated market, the FMDQ Securities Exchange Limited and the Nigerian Exchange (NGX)
“The proceeds from this Eurobond issuance will be used to finance the 2024 fiscal deficit and support the government budgetary needs,” Ms. Oniha said.
Nigeria mandated Chapel Hill Denham, Citigroup, Goldman Sachs, J.P. Morgan and Standard Chartered Bank as Joint Bookrunners.
FSDH Merchant Bank Limited acted as Financial Adviser on the issuance.
The Eurobond attracted about $9 billion subscriptions in overwhelming show of enthusiasm by the international capital market for long-term investments.
The Eurobond offer, launched yesterday by the Federal Government, is the first in more than two years.
It offers two tenors of a six and half years and 10 years Eurobonds. Both medium-tenor and long-tenor bonds were massively oversubscribed.
$2.2bn Eurobond oversubscription by 300% pass mark for Tinubu’s reforms – Finance minister
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Tax reform bills not to impoverish the north – Presidency
Tax reform bills not to impoverish the north – Presidency
The presidency has said no part of the controversial tax reform bills is meant to impoverish the northern part of the country.
In a statement by Bayo Onanuga the Special Adviser to President Tinubu on Information and Strategy, the presidency denied that the bills recommend the scrapping of the Tertiary Education Trust Fund (TETFUND), The National Agency for Science and Engineering Infrastructure (NASENI) and the National Information Technology Development Agency (NITDA) .
The statement read, “Since the public debate around the transformative tax bills before the National Assembly began in the last few weeks, various political actors and commentators have tried to obfuscate the facts, deliberately misinforming and misleading the public.
“Unfortunately, most reactions are not grounded in facts, reality, or sufficient knowledge of the bills. While some commentators have attempted to incite the people against lawmakers, others have polarized one section of the country against another.
“The tax reform bills will not make Lagos or Rivers more affluent and other parts of the country, as recklessly canvassed, poorer. The bills will not destroy the economy of any section of the country. Instead, they aim to enhance the quality of life for Nigerians, especially the disadvantaged, who are trying to make a living.
Contrary to the lies being peddled, the bills do not suggest that NASENI, TETFUND, and NITDA will cease to exist in 2029 after the passage of the bills.
“Government agencies, such as NASENI, TETFUND, and NITDA, are funded through budgetary provisions with company income tax and other taxes paid by the same businesses that are being overburdened with the special taxes.
One reason President Bola Tinubu embarked on the Tax and Fiscal Policy Reforms is the need to streamline tax administration in Nigeria and make the operating environment conducive for businesses.
For decades, businesses, investors, and private sector players in Nigeria have complained of being overburdened by a myriad of taxes and levies, including those earmarked to fund various government agencies and initiatives.
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“The multiple taxes complicate the economic environment, making Nigeria uncompetitive for investment and preventing many businesses from growing or continuing their operations. Some companies have had to make the rational decision to relocate to other countries. We can not continue on this path or wait for 20 years if this country is to deliver the prosperity we need for our people.
Tax reform bills not to impoverish the north – Presidency
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