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Okonjo-Iweala will drive global trade, says World Bank

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The international financial architecture is ‘skewed in favour of rich and creditor countries’, the World Bank has said.

President of the bank, David Malpass exposed the partial state of the architecture at the close of the World Bank/IMF Spring Meetings 2021 Development Committee meeting, in Washington D.C. yesterday.

He said the disturbing state of the global financial system was exposed last year by the COVID-19 pandemic, which made challenges and staggering needs of every country’s economy even clearer.

Malpass said, “One major challenge is that the current international financial architecture is heavily skewed in favor of the rich and creditor countries. It is ever important that all voices are heard. I urge all of us to consider how we can restore growth in developing countries and help reverse the growing inequality, in terms of access to vaccinations, unsustainable debt, and adverse climate impacts.”

According to him, the bank is developing a better line of sight forward, and the collective efforts to poverty, climate change, and inequality will be the defining choices of this age.

“Now is the time to move urgently toward opportunities and solutions that achieve sustainable and broad-based economic growth without harming climate, degrading the environment, or leaving hundreds of millions of families in poverty,” Malpass said.

He also expressed the hope that World Trade Organisation (WTO) will facilitate effective global trade deals under the watch of Dr. Ngozi Okonjo-Iweala  The is its Director-General,

He said: “I would also like to acknowledge our former World Bank colleague, now Director-General of the WTO, Mrs. Ngozi Okonjo-Iweala, who is joining us today. It is a point of pride that we have IMF Managing Director Kristalina Georgieva and Ngozi – two good friends and women who have previously been members of the World Bank team – leading our sister institutions and playing critical global roles in the development agenda today.”

“I had the privilege of hearing strong presentations by both these women leaders at the IMFC meeting. With Ngozi as a champion, we’re looking forward to having a strong focus on trade facilitation and development in future Development Committee meetings.”

Malpass said the Development Committee plays an essential and unique role in the international cooperation architecture.

“I have said this before – it is the only forum in which the governments of developed countries and developing countries, creditor countries and borrower countries, come together with a primary focus development and resource needs for developing countries.”

He said the World Bank goal on COVID-19 was to act quickly and to help as many countries as possible to respond to the pandemic.

“These actions include new COVID-related emergency health programs in 112 countries, vaccination operations that we expect will reach $4 billion of commitments available in 50 countries by mid-year, and a quick doubling of our trade and working capital finance to help fill the banking vacuum that hit private sectors. In 2020, the World Bank achieved a record 65 per cent growth in commitments, Group-wide commitments topped $100 billion for the first time, and we expect this elevated level of delivery to continue in 2021.”

He said the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) maintained strong levels of investment in 2020, filling critical gaps in private sector financing, including short-term liquidity and trade, caused by the global recession.

Malpass said the International Centre for Settlement of Investment Disputes has continued to ensure that international disputes under investment contracts, laws, and treaties are resolved effectively and impartially, which is key to mitigating risks that may otherwise deter much needed private investment for economic recovery.

On debt, he said he strongly welcome the G20’s decision on April 7 to extend the DSSI to end-2021.

He said: “We are working closely with the IMF to support the implementation of the G20 Common Framework, as detailed in this joint paper. I welcome the clear statement in the G20’s communique that ‘the need for debt treatment, and the restructuring envelope that is required, will be based on an IMF/World Bank Debt Sustainability Analysis’ as an input to the creditor committee deliberations.

“In both these debt efforts, greater transparency and participation are important elements. I urge all of you to disclose the terms of your financing contracts, including re-schedulings, and to support the World Bank’s efforts to reconcile borrower’s debt data more fully with that of creditors”.

On vaccines, he said the World Bank have been pleased to see the rapid development of safe vaccines and their deployment in some poor countries, but we are deeply concerned about the limited access around the world.

“The IFC is making investments to help manufacturers expand vaccine production, as well as increase the availability of medical equipment and critical supplies. We’re working closely with the international community, including WHO, Gavi, and UNICEF, and have conducted over 140 vaccine readiness assessments and we are working with countries to address challenges from cold chain and logistics to community outreach.”

“We’re also supporting countries to access vaccines both through COVAX and directly from manufacturers. We remain focused on the goal of vaccinating as broad a group of countries as possible.

“Once again, transparency is key. To accelerate progress, the world needs much more information sharing regarding export and supply commitments and requirements.

“Finally, to recover from COVID-19, we will need integrated, long-run strategies that emphasize green, resilient, and inclusive development (GRID). This must be aligned with the need for policies that help countries increase literacy, reduce stunting and malnutrition, ensure clean water and energy access, and provide better healthcare.

“We must help countries improve their readiness for future pandemics. We need to help them accelerate the development and adoption of digital technologies. We need to work to improve and expand local supply chains and strengthen biodiversity and ecosystems. In our efforts to rebuild, we can generate a recovery that ensures a broad and lasting rise in prosperity, especially for the poorest and most vulnerable.”

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Binance Executive drags NSA, EFCC to court, demands public apology

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Binance Executive drags NSA, EFCC to court, demands public apology

Binance executive Tigran Gambaryan has taken legal action against National Security Adviser Nuhu Ribadu and the Economic Financial Crimes Commission (EFCC), alleging violations of his fundamental rights.

In a filing dated March 18 and presented by his lawyer Olujoke Aliyu from Aluko and Oyebode Law Firm, Gambaryan sought redress before Justice Inyang Ekwo, requesting five reliefs.

Similarly, Nadeem Anjarwalla, Binance’s Africa regional manager who escaped custody on March 22, initiated a separate suit before Justice Ekwo.

The News Agency of Nigeria (NAN) reports that Gambaryan and Anjarwalla, in the suits marked: FHC/ABJ/CS/356/24 and FHC/ABJ/CS/355/24, had sued the Office of NSA (ONSA) and EFCC as 1st and 2nd respondents.

Gambaryan, a US citizen overseeing financial crime compliance at the crypto exchange platform, alleged that his detention and the confiscation of his international travel passport violated Section 35 (1) and (4) of the 1999 Constitution, constituting a breach of his fundamental right to personal liberty.

He further requested the court to order his immediate release and the return of his passport. Additionally, he sought an injunction preventing further detention related to any Binance investigations and demanded a public apology from the respondents, along with costs incurred.

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Gambaryan stated that he visited Nigeria on February 26 alongside Nadeem Anjarwalla, representing Binance, in response to invitations from ONSA and EFCC. Despite attending the meeting as requested, both were detained afterward without formal charges.

During the court proceedings, T.J. Krukrubo, SAN, representing Anjarwalla and Gambaryan, informed the court of the respondents’ absence despite being served. Krukrubo also mentioned their notice of withdrawal of legal representation for Anjarwalla, filed on March 26.

Justice Ekwo noted the withdrawal of legal representation and adjourned the matter to April 8 to allow the applicants to seek new representation and give the respondents an opportunity to appear.

In Gambaryan’s case, Krukrubo stated that although the processes were served on ONSA and EFCC, they still had time to respond. He requested an adjournment, indicating that the respondents’ deadline to file their applications would expire the following week.

Consequently, Justice Ekwo scheduled the next hearing for April 8 to continue proceedings.

Meanwhile, the Federal Government will arraign Binance Holdings Limited and its two top officials, Tigran Gambaryan and the fleeing Nadeem Anjarwalla, on April 4 on allegations bordering on tax evasion.

Binance, Gambaryan, and Anjarwalla, listed as 1st to 3rd defendants respectively, are expected to be arraigned before Justice Emeka Nwite of a Federal High Court (FHC), Abuja on a four-count charge.

Anjarwalla, who had been in detention alongside Gambaryan, was said to have escaped from lawful custody. He escaped on Friday from the Abuja guest house where he and his colleague were detained.

Binance Executive drags NSA, EFCC to court, demands public apology

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FG shuts KFC outlet that ‘humiliated’ Gbenga Daniel’s wheelchair-bound son

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KFC outlet at MMIA, Adebola Daniel

FG shuts KFC outlet that ‘humiliated’ Gbenga Daniel’s wheelchair-bound son

The Federal Airports Authority of Nigeria has shut down a branch of a popular food outlet, KFC, at the Murtala Muhammed Airport, Lagos  State.

FAAN stated this on Thursday in a statement signed by its Director, Public Affairs and Consumer Protection, Mrs Obiageli Orah.

The statement, titled, ‘FAAN shuts down KFC outlet at MMIA,’ noted that the food outlet violated the Lagos State law on People with Special Needs, Part C, Section 55 of General Provisions on Discrimination.

The statement added that the directive followed a social media report by a Passenger with Reduced Mobility who alleged discriminatory treatment he received at the airport.

It read, “In line with Lagos State law on People with Special Needs, Part C, section 55 of General Provisions on Discrimination which states that “A person shall not deprive another person of access to any place, vehicle or facility that members of the public are entitled to enter or use on the basis of the disability of that person”, the management of the Federal Airports Authority of Nigeria (FAAN) has closed the KFC facility at the Murtala Muhammed International Airport in Lagos with effect from March 28, 2024.

“This is as a result of a social media report by a Passenger with Reduced Mobility (PRM), alleging discriminatory treatment he received at the Murtala Muhammed International Airport, Lagos.

“The MD/CE of FAAN, Mrs Olubunmi, Kuku intervened swiftly by deploying a management team comprising the Director, Public Affairs and Consumer Protection, Mrs Obiageli Orah; the Regional Manager South West, Mr. Sunday Ayodele; Ag. General Manager Public Affairs, Mrs Ijeoma Nwosu-Igbo and the International Terminal Manager, Mr. Kerri, to investigate the allegation.”

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FAAN said, “It is based on the findings of the team that FAAN has shut down the KFC facility at the MMA, where the incident occurred.

“The authority has instructed that the KFC Management should tender an unreserved apology, in writing, to the affected PRM and a policy statement of non-discrimination be written and pasted conspicuously at the door post of their facility at MMIA before it resumes operation.

“FAAN uses this medium to express our unreserved apology to the affected Passenger with Reduced Mobility and assures all airport users that we shall continue to work tirelessly to ensure that the rights of every passenger are not infringed upon.”

The victim of the maltreatment, Adebola Daniel, son of former Ogun State Governor, Gbenga Daniel, recounted his experience at the KFC outlet of the airport in a series of tweets posted on Wednesday via his X handle, @DebolaDaniel.

Daniel, a wheelchair user, described his ordeal as “the worst sort of public humiliation” he ever had.

The Ogun State-born noted that it all started during his planned trip to  London from Lagos via a Virgin Atlantic airline.

He stated that in years past, while he was quite familiar with security and immigration processes, being a frequent traveller, he would visit the Oasis lounge of the airport to wait for his flight.

However, because “the lift to the lounge has been out of service,” for the past three years, he decided to find “solace” at the KFC outlet in the airport, alongside his wife and his three brothers, whom they were travelling together.

“Today I chose KFC – what a colossal mistake,” he bemoaned.

His tweets partly read, “Being disabled often rolls over my spirit, leaving behind a trail of shattered dignity and forgotten humanity. Nowhere more so than in Nigeria.

“I have never been the type of person to make a fuss or complain about my disability. My approach has always been ‘laissez-faire.’ Ultimately, it is what it is. It is a part of my identity and like everyone else, I have my days of self-doubt and confusion as to how/if I fit in society.

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“To be disabled in Nigeria is to be undesirable, unwelcome and unaccepted. As I’ve said before, it’s a lonely, scary and isolated place.

“Never has this been more true than it has ever been today when I faced the worst sort of public humiliation that I have ever experienced. To think that this happened at an international brand @kfc @kfcnigeria at an international airport – Murtala Muhammed Airport, Lagos – is unthinkable.”

Daniel stated that he “arrived at the airport as normal for my Virgin Atlantic flight to London. I’m a frequent flyer and I’m extremely familiar with all due processes at Murtala Muhammed Airport. Years ago, after all security and immigration formalities had been completed, I would normally go to the Oasis lounge to wait for my flight.

“For the past three years, the lift to the lounge has been out of service so I’ve often found solace in other establishments, sometimes lounges, sometimes restaurants such as @kfc @kfcnigeria.”

Daniel stated that as they were about to sit, a lady who is “apparently the manager” called out loudly, “No wheelchairs allowed.”

He added that upon hearing what she said, one of his brothers, Taiwo, asked what the lady meant, but “she refused to listen to reason and stood her ground that at @kfc @kfcnigeria Murtala Muhammed branch, wheelchairs and wheelchair users of all shapes and sizes were not permitted in the premises and we should leave immediately.

“My siblings and wife became instantly irate and proceeded to debate her position with her, ultimately cumulating in raised voices and strong verbal protests. If there’s one thing I hate more than anything in this life is to create a scene. I detest it. I do not like to draw attention to myself and as such I began pleading with my people that we should just leave.

“My wife took some video footage and my brothers took some pictures. There were at least five other witnesses at the scene, who tried to intervene as things unfolded. Eventually, our party departed to another lounge upset and quite frankly pissed off.”

Daniel stated that he wouldn’t let such an incident slide, adding that as another of his brothers alongside his wife met the lady at another time, she stressed “that the business does not allow wheelchairs into their premises,” while they took an audio record of her statement.

He recalled the lady saying that “she recently just transferred to that branch, it is something that has been drummed into them.

FG shuts KFC outlet that ‘humiliated’ Gbenga Daniel’s wheelchair-bound son

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DHQ declares prof, 7 others wanted over killing of soldiers in Delta

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DHQ declares prof, 7 others wanted over killing of soldiers in Delta

The Defence Headquarters (DHQ) has declared eight persons wanted including a professor over the brutal killing of 17 soldiers and officers in Okuama community of Delta State.

Those declared wanted comprise seven men and one woman. They are Wakevwuru Omotegbono A.K.A Amagbem, Professor Ekpekpo Arthur, Andaowei Dennis Bakriri, Igoli Ebi, Akata Malawa David, Sinclear Oliki, Clement Ikolo Oghenerukvwe and Reuben Baru.

Director, Defence Media Operations, Maj. Gen. Edward Buba, announced this on Thursday at a briefing in Abuja.

Buba urged traditional rulers and other stakeholders particularly in the Niger Delta to help in fishing out the wanted suspects.

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