Africa

Four commercial banks in our country belong to Nigerians – Liberia’s VP

Published

2 months ago

September 11, 2024

Liberia’s Vice President, Jeremiah Kpan Koung

Four commercial banks in our country belong to Nigerians – Liberia’s VP

Liberia’s Vice President, Jeremiah Kpan Koung, has said that Nigerians now own about half of Liberia’s commercial banks.

He said this during the 17th Annual Banking & Finance Conference organized by the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja on Tuesday.

Koung, speaking to an audience of banking professionals and government officials, praised the role Nigerian banks play in Liberia’s economic landscape.

He emphasized that Nigerian investors have been instrumental in increasing market competition, boosting efficiency, and providing credit lines to support private sector growth.

The Liberia’s Vice President said: “We welcome and applaud the expansion of Nigerian-owned banks in Liberia. The presence and increase in Nigerian-owned businesses, especially banks, are helping to increase market competition and improve efficiency.

“These banks continue to play major roles in providing jobs and establishing credit lines to support the development of our private sector. Presently, there are four (4) Nigerian-owned banks operating in Liberia out of a total of eight (8) commercial banks. This is a clear sign that Nigerians remain interested in investing in Liberia, and as a government, our doors remain open to you.”

He expressed his government’s openness to further investment from Nigerian banks, noting their critical role in job creation and economic development.

READ ALSO:

Koung also touched on Liberia’s efforts to integrate into the West African Monetary Zone and the Economic Community of West African States (ECOWAS), with a vision to adopt a single currency regime.

He explained that the Central Bank of Liberia is working on a new monetary policy framework that will align with the region’s economic integration goals. However, Koung warned that achieving this vision will require collective economic responsibility from all member states, including managing debt and stabilizing exchange rates.

Koung said: “Currently, the Central Bank of Liberia is working on the monetary policy framework to meet the requirements for the West Africa Monetary Zone. As you may be aware, it is expected that Liberia, Ghana, Gambia, Guinea, Sierra Leone, and Nigeria will work towards the implementation of a single currency regime to achieve economic integration.

“This policy framework will lay the foundation for the realization of a common currency for all ECOWAS member states. However, to achieve this vision, we have a collective responsibility to make sound economic decisions to reduce our debts and stabilize our exchange rates.”

The vice president further emphasized the need for investment banks in Liberia, noting that the country’s only development bank, the Liberia Bank for Development and Investment (LBDI), lacks the capital necessary to finance the country’s ambitious economic transformation agenda.

As a result, Liberia has had to rely on multilateral development institutions like the African Development Bank and the World Bank to finance large-scale projects. Koung called for more investment in Liberia’s banking sector to address this gap.

In his closing remarks, Koung expressed optimism that the Abuja conference would inspire new policy directions to enhance the banking sectors in both Nigeria and Liberia.

He highlighted the potential for greater collaboration between the two countries, particularly in the areas of trade, investment, and financial services.

Four commercial banks in our country belong to Nigerians – Liberia’s VP

Africa

Boyfriend of murdered Kenyan journalist arrested

Published

5 days ago

November 10, 2024

Trends Admin

George Mwenda Mutegi and Lilian Achieng Aluko

Boyfriend of murdered Kenyan journalist arrested

A man has been arrested in connection with the brutal killing of Kenyan journalist, Lilian Achieng Aluko, whose body was discovered in a house in Kahawa West, Nairobi, Kenya.

Lilian, who was a presenter at Radio 44, a local radio station, was found dead at her boyfriend’s house with injuries on her face and a stab wound at the back on November 1, 2024.

A day before her death, the 33-year-old had informed her family that she would be spending the night at her boyfriend’s place.

The Directorate of Criminal Investigations (DCI) in a statement on Friday said the suspect, believed to be Achieng’s boyfriend, was apprehended in the Kaanwa area of Tharaka Nithi County.

The DCI worked closely with local authorities in Meru County to track down the suspect, whose movements had been monitored since he disappeared on November 1.

Police investigations revealed that Achieng and the suspect spent the evening at a local spot before heading to the suspect’s house in Kahawa West.

“George Mwenda Mutegi, the prime suspect in the monstrous murder of Ms Lilian Achieng Aluko has been arrested after days of scrupulous manhunt. Mutegi was smoked out of his hideaway at Kaanwa area of Tharaka Nithi county,” the statement read.

READ ALSO:

“The suspect’s arrest by a combined team of hawkshaws from DCI Hqs augmented by their Meru counterparts is a culmination of days of meticulous investigations launched on 1st November, 2024, the night Mutegi is believed to have murdered his girlfriend. After the heinous killing, Mutegi disappeared and erased his footprints.

“Police and the neighbours would only wake up to a slain Achieng, whose lifeless body lay soaked in blood with a stab wound at the back of her right ear and visible injuries on her face and hips.

“Probing the case, police found out that the two lovebirds had on the fateful night had a good time at a local establishment, before retreating to the boyfriend’s place of abode in Kahawa West.

“In an ugly turn of events, the attention of the neighbours was drawn to loud screams from Mutegi’s locked house, which were quickly deafened by loud noise from his sound system.

“Unaware that the distress call was the last Achieng would ever make, the neighbours went back to their houses hoping that the duo would resolve their issues.

“That night, the life of a 33-year-old lady with a blossoming career as a presenter at a local radio station was ended.

“The suspect is currently being processed for arraignment as the DCI continues to investigate all other cases of a similar nature to ensure justice for all victims.”

Boyfriend of murdered Kenyan journalist arrested

Africa

Baltasar Engonga: I dated him for four years, lady says, sues for betrayal

Published

5 days ago

November 10, 2024

Trends Admin

Cristel Nchama and Baltasar Engonga

Baltasar Engonga: I dated him for four years, lady says, sues for betrayal

Cristel Nchama, one of the women appearing in viral explicit videos allegedly involving Baltasar Engonga, the former director-general of Equatorial Guinea’s National Financial Investigation Agency (ANIF), has filed a formal complaint with the National Gendarmerie in Malabo.

Engonga has been the focus of intense public scrutiny after investigators, probing allegations of fraud, searched his home and office and reportedly uncovered approximately 400 explicit videos featuring him with multiple women.

The tapes allegedly show Baltasar Engonga with his brother’s wife, his cousin, the sister of the country’s president, the wife of the director-general of police, and around 20 wives of ministers, among others.

The recordings, which have since gone viral, are said to have taken place in Engonga’s office, hotels, and bathrooms, purportedly with the consent of those involved.

READ ALSO:

In her complaint, Nchama disclosed that she had been in a four-year relationship with Engonga and expressed profound distress over the public leak of the videos, which she says has harmed her reputation.

Nchama claimed that Engonga “misled” her into trusting him and that she had initially resisted being filmed, under the impression that any recordings would be deleted.

She also claimed to have been “betrayed” by Bello for publishing the videos.

“I am humiliated,” she stated. “It is my reputation, my honour. I want to know where these images came from and why he kept the images.”

In addition to filing her complaint, Nchama has demanded reparations from Engonga for the damage caused to her reputation and personal dignity.

Following the scandal, the government dismissed Engonga from his position at ANIF on Thursday.

Officials also announced the suspension of various public officials allegedly involved in sexual activities within government offices.

Baltasar Engonga: I dated him for four years, lady says, sues for betrayal

Africa

Baltasar Engonga: Equatorial Guinea appoints new anti-graft agency boss

Published

7 days ago

November 8, 2024

Trends Admin

Baltasar Engonga

Baltasar Engonga: Equatorial Guinea appoints new anti-graft agency boss

Equatorial Guinea’s President, Obiang Nguema Mbasogo, has appointed Zenón Obiang Obiang Avomo as the new Director General of the National Agency for Financial Investigation (ANIF), succeeding Baltasar Ebang Engonga, who was removed amid sex scandal.

Recall that Engonga was dismissed following accusations of “irregularities committed in the exercise of his functions,” along with inappropriate family and social behavior unfit for public office, as stated in Decree No. 118/2024, dated November 4.

The investigation uncovered over 400 video recordings in Engonga’s office, reportedly involving the wives and relatives of high-ranking officials, including ministers and police officers.

READ ALSO:

The shocking discovery triggered widespread public outrage and prompted swift action by the government.

In response, the Equatorial Guinean government has mandated the installation of surveillance cameras across all state offices, aiming to monitor officials’ conduct and deter future misconduct.

Zenón Obiang Obiang Avomo, who steps into the role at ANIF is a graduate of the National University of Equatorial Guinea, Avomo and has held key positions, including Magistrate Judge in Malabo, Director General of Contract Studies and State Markets at the Ministry of Finance, and Secretary General for both the Ministry of Finance, Economy and Planning, and the Ministry of Mines, Industry, and Energy.