Former President Olusegun Obasanjo has called for more investments in Africa, stressing that the continent is in dire need of funding to develop critical sectors.
He made the comment on Wednesday during the Africa-Dubai Business Investment Summit organised by the Africa World Business Centre (AWBC) and Leaders Without Borders.
“I believe that Africa is crying for investments and there can be no better, auspicious period for investment in Africa,” the former Nigerian President added.
“Especially when you take all the things that have been happening in Africa and the world in general; the COVID-19 pandemic, the unpredictability of the situation, almost everywhere in the world and then of course, the uncertainty in the economic arena.”
While noting that in the past, there was limited knowledge about Africa, Obasanjo explained that business interactions between the United Arab Emirates (UAE) and the continent, should be a two-way thing.
“I would say that there has been substantial, tangible investment in the United Arab Emirates from Africa, particularly in the area of properties,” he said.
According to him, the insufficient knowledge about Africa is impeding the flow of investments into the continent.
He said: “Not sufficient knowledge, not sufficient understanding, not sufficient confidence and that is the reason why I believe that nothing flows in both directions, as it should have been.
“I do believe that Africa has the greatest yield in terms of returns for investment in the world today; but then, how do you get there?”
Obasanjo, who also blamed limited investments on the continent from the UAE on some unscrupulous elements, said such development should not deter investors.
“I believe, in the past, probably some unscrupulous Africans have done what they should not have done or businessmen. Investors in Africa from the United Arab Emirates have met such unscrupulous people; but I do not say that that is limited to Africa. I believe, what I should say now is, what we should all bear in mind is buyer beware,” Obasanjo said.
“There are crooks everywhere but we also have real men and women of integrity (honest and), people that you can do business with, either at individual, at corporate or even at government level. Let us make sure these are the sort of people that we look for, in terms of investment, in terms of doing business.”
He, however, said that with the Africa Continental Free Trade Zone Agreement and other efforts being made by leaders on the continent, investing in Africa will become easier.
“You will not have to think of 55 different custom regulations, 55 different immigration systems and our leaders have moved fast in that direction,” the 84-year-old explained.
“When the treaty was signed, it was this treaty that came into force within the shortest period of time and that is the interest that our leaders have shown. So, the problem of having to deal with 55 different immigration, 55 different custom rules and regulations will soon be a thing of the past.”
652 total views, 3 views today
You Lied Against Me, Ronaldo Blasts Media
Cristiano Ronaldo has hit out at the “lies” surrounding reports about his future at Manchester United.
The Portugal forward missed United’s pre-season tour to Thailand and Australia due to personal reasons as speculation swirled over whether he would be leaving Old Trafford.
It has been reported Ronaldo wants to play Champions League football, but United maintains the 37-year-old is not for sale and remains an integral part of the plans of new boss Erik ten Hag.
The former Real Madrid star played the full 90 minutes of United’s 4-0 defeat at Brentford on Saturday, which left them bottom of the Premier League.
In a reply to a fan account on Instagram that referred to a report linking the United frontman to Atletico Madrid, Ronaldo said fans would “know the truth” in a couple of weeks, adding: “The media is telling lies.”
“I have a notebook and in the last few months of the 100 news I made, only five were right. Imagine how it is. Stick with that tip.”
Manchester United will seek to kickstart their Premier League campaign when they host fierce rivals, Liverpool, on Monday.
United’s owners, the Glazer family, have come under fire following the team’s terrible start.
Former United defender Gary Neville has warned the club could finish in the bottom half of the Premier League if they do not address their “horror story” recruitment strategy.
Manchester United supporters’ group ‘The 1958’ is planning a protest march outside Old Trafford against the club’s owners ahead of the Liverpool match.
In a statement, the group said the ownership was “systematically starving and killing the greatest football institution in world football, for greed”.
“We appreciate emotions are running high,” it added. “We must keep it legal, we must keep it peaceful…. Bring the heat, bring the noise, bring the passion. Let’s show the Glazer family that this time it will not blow over.”
Billionaire Elon Musk sparked a social media frenzy on Tuesday evening when he raised the prospect of buying United from the Glazer family.
The Tesla CEO made the comment in a tweet, then later clarified his position by saying he had no intention of buying a sports team and that it had been a “long-running joke
2 total views, 2 views today
Suspended NBA General Secretary, Joyce Oduah Sues Exco Members, Challenges Suspension
The suspended General Secretary of the Nigerian Bar Association, Mrs Joyce Oduah has filed a suit at the Federal High Court, Abuja against the association, its national executives and the Inspector General of Police.
In the suit filed by her Counsel, Murtala Abdul-Rasheed (SAN), Joyce Oduah is challenging her suspension from office after an emergency meeting held by the National Executive Committee on Monday, the 15th of August, 2022.
She claimed that her purported suspension as the General Secretary of the Nigerian Bar Association (NBA) pursuant to the Resolution of the emergency meeting of the National Executive committee of the NBA held on the 15th day of August 2022 is unconstitutional, null, void and of no effect whatsoever for being a gross violation of Section 36 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), Sections 239, 242 and 288 of the Companies and Allied Matters Act, 2020 and the Constitution of the Nigerian Bar Association, 2015 (as amended) in 2021.
She is also asking the court to determine five issues, namely:
Whether or not having regards to the provisions of Sections 36 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), Sections 11(9), 20 and 21 of the Constitution of the Nigerian Bar Association, 2015 (as amended in 2021) and Sections 239, 242 and 288 of the Companies and Allied Matters Act, 2020, the 3rd – 11th Defendants have the vires to suspend the Plaintiff from the office of the General Secretary of the Nigerian Bar Association, (the 1st Defendant herein).
Whether or not having regards to the provisions of Sections 36 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), Sections 11(9), 20 and 21 of the Constitution of the Nigerian Bar Association 2015 (as amended in 2021 and Sections 239, 242 and 288 of the Companies and Allied Matters Act, 2020 the purported resolution of the emergency meeting of the National Executive Committee of the Nigerian Bar Association held on the 15th day of August 2022, is null, void, illegal and unconstitutional.
Whether or not having regards to the provisions of Sections 36 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), Sections 11(9), 20 and 21 of the Constitution of the Nigerian Bar Association 2015 (as amended in 2021 and Sections 239, 242 and 288 of the Companies and Allied Matters Act, 2020 the notice of the meeting of the National Executive Committee of the Nigerian Bar Association held on the 15th day of August 2022 which did not contain the suspension of the Plaintiff as one of its agenda is null and void ab initio and a breach of the Plaintiff’s right to a fair hearing.
Whether having regards to Sections 36 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), Sections 11(9), 20 and 21 of the Constitution of the Nigerian Bar Association 2015 (as amended in 2021), as well as Sections 239, 242 and 288 of the Companies and Allied Matters Act 2020 the procedure adopted by the National Executive Committee in the purported suspension of the Plaintiff is not unlawful and a breach of the Plaintiff’s right to a fair hearing;
Whether having regards to Sections 36 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), Sections 11(9), 20 and 21 of the Constitution of the Nigerian Bar Association 2015 (as amended in 2021), as well as Sections 239, 242 and 288 of the Companies and Allied Matters Act 2020), the decision by the NBA-NEC to suspend the Plaintiff was not unjust and done in utmost bad faith.
On Monday, the NBA national officers unanimously suspended the general secretary, Mrs Joyce Oduah from office. Nine of the 11 officers who signed the resolution authorizing the suspension also resolved to refer her to the NBA National Executive Council for disciplinary action and to recommend her removal from office for gross misconduct.
The National Executive Council will sit on the 25th of August at the Annual General Meeting of the Annual General Conference of the Association scheduled to hold in Lagos.
It will be the last sitting under the Akpata administration as the President-elect, Yakubu Maikyau (SAN) and his team will be sworn in on Friday the 26th of August.
145 total views, 145 views today
Why Wike Must Apologise To Amaechi -HURIWA
Human Rights Writers Association of Nigeria, HURIWA, has told the Governor of Rivers State, Nyesom Wike to apologise to his predecessor and former boss, Rotimi Chibuike Amaechi.
HURIWA said Wike should apologise to the former Minister of Transportation for what it described as needless political war of vendetta to Amaechi, who entrusted key offices to him whilst he (Amaechi) served as Governor.
On September 14, 2015, Wike had vowed to implement the recommendations of the judicial commission of inquiry probing the sale of the State’s valued assets by the Amaechi administration.
Also, the Justice George Omereji seven-man commission of inquiry concluded its proceeding on the matter over the weekend, warning that the former Minister and some members of his administration who shunned the panel should be prepared to bear the consequences of their action.
HURIWA accused the Commission of reaching predetermined conclusions and indicting Amaechi without hearing his own side of the story.
In a statement by its national Coordinator, Comrade Emmanuel Onwubiko,, HURIWA said it thinks “the politically motivated witch-hunt using certain forces in the judiciary against Amaechi is the source of the current political troubles and ‘karma’ afflicting Wike.”
HURIWA also stated that Governor Wike, in the last eight years, has become anti-workers and dictatorial.
Wike had on Monday said that some aggrieved losers in the People Democratic Party, PDP, governorship primary for 2023 which produced former State Accountant-General, Sim Fubara as candidate, were leading an Abuja plot for his downfall.
Wike during activities to celebrate former Governor Peter Odili at 74, pointed at some of the party leaders who, on his 2021 birthday, indicated interest to fly the ticket, but failed in the end, as spearheading the gang up against him.
HURIWA counselled Wike “to put an end to his cantankerous political warfare against his kinsman- Amaechi and end his administration as a democrat and not a quarrelsome tyrant.”
592 total views, 592 views today
JOIN US ON FACEBOOK
Entertainment11 months ago
BBNaija: Nigerians Drag Angel For Showing Off Her Private Part To Housemates (Watch Video)
Headline1 year ago
Female Italian Fan Go Topless, Gives Free Show After Euro 2020 Win (Watch Video)
Headline5 months ago
BREAKING: Lagos CP Orders Security Beef Up Following MC Oluomo’s Suspension
Entertainment12 months ago
BBNaija: “Shameful For A Married Woman” – Boma, Tega Doing ‘Stuff’ Under Duvet Sparks Outrage (See Video)
Entertainment6 months ago
Singer, Oxlade In Big Mess After His Sex Tape With A Strange Lady Surfaces Online (Watch Video)
Headline4 months ago
Just In: 2023: We Won’t Support Tinubu’s Ambition -Ambode Campaign Organisation
Entertainment2 years ago
BBNaija: Kiddwaya Sucks Erica’s Boobs, Licks Dorathy’s Neck In Truth Or Dare Game (Video)
World news4 years ago
Why I Quit Nun To Become A Porn Star After 8 Years At Convent – Yudi Pineda