News
Nigeria losing big to ‘Japa’ trend, says Adesina
‘Youths need capital not N10,000 freebies’
President of the African Development Bank (AfDB), Akinwumi Adesina, has expressed concerns over the migration phenomenon known as ‘Japa’ in Nigeria, saying that Nigeria and the African continent are the biggest losers to the ‘Japa’ trend.
Adesina, who spoke yesterday, in an interview on Channels Television, said youths in Nigeria and other 51 countries in Africa do not need freebies under the guise of empowerment schemes but capital to fund their ideas and translate the same into enduring wealth.
The former Nigeria’s Agriculture Minister said Africa’s youth swelling is a demographic asset that has to become an economic asset through rigorous investment in human capital development and financing.
According to him, Africa’s youth population was not a problem for the continent because India and China’s population have not been a problem for them; it is what you do with your population and how you skill them up that matters.
The AfDB boss said that if young people in Africa are skilled and have good jobs and social protection, these would turn to prosperity for the continent because the demography has high purchasing power. He said that in a world of rising tariffs, it is important for Africa to build consumption as part of its gross domestic product.
“In the case of young people and the Japa syndrome, it’s a big loss for us. Young people don’t need freebies; they don’t need people.
“They have skills, they know, they have entrepreneurship capacity, and they want to turn their ideas into great businesses. What young people need is not those empowerment programmes; they need capital, they need you to put your money at risk on their behalf.
“We have over 465 million young people between the ages of 15 and 35. Africa should not turn what should be its demographic asset into somebody else’s problem due to the inability to believe in young people and invest in their ideas for continental prosperity.
“I do not believe that the future of our young people lies in Europe; it doesn’t lie in America, it doesn’t lie in Canada, Japan, or China; it should lie in Africa growing well, growing robustly and able to create quality jobs for our young people,” he said.
The AfDB boss said that the financial system in Africa was not designed to support young people on the continent.
Adesina said to support young people in Africa, the AfDB created the Youth Entrepreneurship Development Bank to support their business plans and to address institutional failure around financing.
He said the AfDB just approved $100 million to set up the Nigerian Youth Entrepreneurship Investment Bank to “mobilise $2 billion of investment for more than 38,000 businesses of young people in Africa.”
“They don’t need N5,000, N10,000. You want to create youth-based wealth. If you don’t, who are the people who will pay the taxes in the future? Where are you going to get the capital mobilisation in the future? You have to therefore, invest in the same demographic so that you can reap in the future,” he added.
The governor of Oyo state, Seyi Makinde, has approved a N10,000 transportation allowance as a palliative for the state workforce to cushion the effects of the increase in the pump price of Premium Motor Spirit, otherwise known as petrol.
The Chairman of the Nigeria Labour Congress (NLC), Oyo State chapter, Kayode Martins, in a statement released on Monday, March 23, disclosed that the governor has granted the request of the union on the issue of transportation allowance.
The statement read
“Following the intervention and formal request made by the State Council of the Nigeria Labour Congress (NLC) earlier this morning, the state government has approved a N10,000 transportation allowance for all workers in the state.
The newly approved allowance is set to take effect from April 2026, providing much-needed relief to workers grappling with rising transportation costs amid current economic challenges.
This development comes as a direct response to sustained advocacy by the state NLC, aimed at cushioning the impact of increased living expenses on the workforce.
Further details on implementation are expected to be communicated by the relevant government authorities in due course.”
News
Former Acting Accountant-General of the Federation bags 72years imprisonment for diverting N868.46 million security funds
Justice James Omotosho of the Federal High Court in Abuja, on Monday, March 23, convicted and sentenced Chukwunyere Nwabuoku, former acting Accountant-General of the Federation (AGoF), to a 72-year jail term without an option of fine.
DailyTrust reports that in the judgment delivered, Justice Omotosho held that the Economic and Financial Crimes Commission (EFCC) had been able to prove the nine-count money laundering charge beyond reasonable doubt.
According to the judge, the defendant is hereby convicted as charged.
Justice Omotosho convicted Nwabuoku in all the nine counts and sentenced him to eight years imprisonment in each of the counts, making 72 years.
The judge, however, ordered that the counts shall run concurrently.
Justice Omotosho, who described Nwabuoku’s act of diverting funds meant for security and defence while he served as Director of Finance and Account in the Ministry of Defence as “appalling,” commended the EFCC for being detailed in its prosecution.
The judge observed that the evidence of the 9th prosecution witness that Nwabuoku voluntarily refunded part of the siphoned money of over N200 million during investigation was not controverted by the defence.
Nwabuoku served as the Director of Finance and Accounts in the Ministry of Defence between 2019 and 2021. He became acting Accountant General of the Federation in May 2022.
The police in Delta state have arrested eleven more suspects over the sexu@l ass@ults recorded during what was described as a “r@ping festival” in Oramudu Quarters in Ozoro last Thursday, March 19.
In a statement released on Saturday, March 21, the spokesperson of the command, SP Bright Edafe, said the CP Special Assignment Team (CP-SAT) was tasked with conducting a detailed investigation into the incident.
Edafe said operatives of CP-SAT conducted a thorough analysis of available video evidence and intelligence, leading to the arrest of eleven additional suspects identified as Samson Atukpodo, Steven ovie, Ugbevo Samson, Afoke Akporobaro, Evidence Oguname, and six others. Edafe mentioned that these latest arrests bring the total number of suspects currently in police custody in connection with the incident to fifteen (15)
“The Command reiterates that preliminary findings indicate that the unfortunate incident was perpetrated by criminal elements who exploited the situation to engage in acts of sexu@l v!olence, which are in no way representative of any legitimate cultural practice.
The Commissioner of Police, Delta State Command, CP Aina Adesola, condemns these acts in totality and reassures the public that the Command remains resolute in its determination to ensure that all those involved are identified, arrested, and prosecuted in accordance with the law. Members of the public, particularly victims and witnesses, are once again encouraged to come forward with credible information that will aid ongoing investigations. The Command assures that all information provided will be treated with strict confidentiality.”the statement in part reads
Fuel price hike: Gov Makinde announces N10,000 transport support for workers
Former Acting Accountant-General of the Federation bags 72years imprisonment for diverting N868.46 million security funds
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