Monday, August 22, 2016
Video - Former militant group calls for Avengers to be denounced
Nigeria's Movement for the Emancipation of the Niger Delta --or MEND -- has spoken out against the resolution reached by Niger Delta stakeholders. Efforts are under way to end militants' vandalism of the oil infrastructure in the region. Militant groups, including the Niger Delta Avengers, are calling for a more equal share of the oil wealth among local communities. MEND is angry as the Niger Delta stakeholders have failed to denounce the Avengers' activities. The group is preparing to tour the region to solicit support for President Muhammadu Buhari's administration.
Niger Delta Avengers announce ceasefire
The Niger Delta Avengers (NDA), known for its attacks on Nigeria’s oil installations, has announced a ceasefire, saying it will support the notion of holding talks with the government in Abuja.
The group said in a message on its website late Saturday that it would support efforts to negotiate with “the federal government of Nigeria, representatives from the home countries of all multinational oil corporations and neutral international mediators.”
It said NDA would “observe a cessation of hostilities” and will honor its pledge “unless the ruling political APC (All Progressives Congress party) continues ... to arrest, intimidate, invade and harass innocent citizens and invade especially Ijaw communities.”
The Ijaw ethnic people are the dominant militant group in the southern Niger Delta region. They have vowed to resume fighting if the current window for talks expires and the government fails to address their demands.
“We promise to fight more for the Niger Delta, if this opportunity fails,” the NDA said in its message.
Attacks on Nigeria’s oil pipeline and facilities have left a devastating impact on the African country’s economy. Reports say Abuja has lost a third of its oil income as a result of the militancy affecting its oil facilities.
The government blamed two such attacks on Friday on the DNA while a second group, identifying itself as the Niger Delta Greenland Justice Mandate (NDGJM), carried out another attack on the state-owned pipeline on the same day.
The DNA has yet to comment on reports that it has been holding talks with government representatives in Abuja over the past weeks. The group has also refused to publicly support efforts by community figures from the Niger Delta region to resolve the conflict.
The group said in a message on its website late Saturday that it would support efforts to negotiate with “the federal government of Nigeria, representatives from the home countries of all multinational oil corporations and neutral international mediators.”
It said NDA would “observe a cessation of hostilities” and will honor its pledge “unless the ruling political APC (All Progressives Congress party) continues ... to arrest, intimidate, invade and harass innocent citizens and invade especially Ijaw communities.”
The Ijaw ethnic people are the dominant militant group in the southern Niger Delta region. They have vowed to resume fighting if the current window for talks expires and the government fails to address their demands.
“We promise to fight more for the Niger Delta, if this opportunity fails,” the NDA said in its message.
Attacks on Nigeria’s oil pipeline and facilities have left a devastating impact on the African country’s economy. Reports say Abuja has lost a third of its oil income as a result of the militancy affecting its oil facilities.
The government blamed two such attacks on Friday on the DNA while a second group, identifying itself as the Niger Delta Greenland Justice Mandate (NDGJM), carried out another attack on the state-owned pipeline on the same day.
The DNA has yet to comment on reports that it has been holding talks with government representatives in Abuja over the past weeks. The group has also refused to publicly support efforts by community figures from the Niger Delta region to resolve the conflict.
Sun International to exit Nigeria
Sun International Ltd. plans to exit Nigeria after the South African casino and hotel operator’s earnings in the country plunged amid a weakening economy and a dispute involving the company’s local partners.
Sun International bought 49 percent of the Nigerian Stock Exchange-listed Tourist Company of Nigeria 10 years ago, giving it part-ownership of the Federal Palace hotel in Lagos, one of the main hotels used by businessmen traveling to the commercial capital. Earnings before interest, taxes, depreciation and amortization at the Nigerian operations fell 58 percent in the 12 months through June, Sun said in a statement on Monday. Occupancy rates at the property fell to 42 percent.
“The Federal Palace continues to operate in a difficult environment with the Nigerian economy facing a number of crises including the low oil price,” the Johannesburg-based company said in the statement. The Islamist insurgency led by the Boko Haram group and a weakening naira also hurt trading, while an “ongoing shareholder dispute has frustrated all attempts to develop and improve the property,” the company said.
Other South African companies to have left Nigeria include retailers Woolworths Holdings Ltd. and Truworths International Ltd., citing tough regulation and rising costs. Johannesburg-based MTN Group Ltd., Africa’s biggest mobile-phone provider, agreed to pay a 330 billion naira ($957 million) regulatory fine in the country earlier this year, leading to its first-ever half-year loss.
Sun has been drawn into a “long-standing family dispute” between fellow shareholders in Nigeria, the company said earlier this year, after workers, including South African expatriates, were detained without charges by Nigeria’s Economic and Financial Crime Commission. The employees have still not had their passports returned to them, while no charges have been laid against them or the company, Sun said on Monday.
The process of exiting Nigeria is likely to be “protracted,” as Sun seeks to ensure it receives fair value for the investment, the company said. The hotelier said in May it plans to sell minority interests in properties in countries including Zambia, Botswana and Namibia for 394 million rand ($29 million) to reduce debt.
The shares were 0.4 percent lower at 91.76 rand as of 2:02 p.m. in Johannesburg, valuing the company at 10 billion rand.
Sun, owner of the Sun City resort northwest of Johannesburg, said full-year diluted adjusted earnings per share excluding one-time items fell 20 percent to 6.28 rand, while sales gained 15 percent to 12.2 billion rand. The final dividend was cut to 1.35 rand a share from 1.75 rand the previous year.
Sun International bought 49 percent of the Nigerian Stock Exchange-listed Tourist Company of Nigeria 10 years ago, giving it part-ownership of the Federal Palace hotel in Lagos, one of the main hotels used by businessmen traveling to the commercial capital. Earnings before interest, taxes, depreciation and amortization at the Nigerian operations fell 58 percent in the 12 months through June, Sun said in a statement on Monday. Occupancy rates at the property fell to 42 percent.
“The Federal Palace continues to operate in a difficult environment with the Nigerian economy facing a number of crises including the low oil price,” the Johannesburg-based company said in the statement. The Islamist insurgency led by the Boko Haram group and a weakening naira also hurt trading, while an “ongoing shareholder dispute has frustrated all attempts to develop and improve the property,” the company said.
Other South African companies to have left Nigeria include retailers Woolworths Holdings Ltd. and Truworths International Ltd., citing tough regulation and rising costs. Johannesburg-based MTN Group Ltd., Africa’s biggest mobile-phone provider, agreed to pay a 330 billion naira ($957 million) regulatory fine in the country earlier this year, leading to its first-ever half-year loss.
Sun has been drawn into a “long-standing family dispute” between fellow shareholders in Nigeria, the company said earlier this year, after workers, including South African expatriates, were detained without charges by Nigeria’s Economic and Financial Crime Commission. The employees have still not had their passports returned to them, while no charges have been laid against them or the company, Sun said on Monday.
The process of exiting Nigeria is likely to be “protracted,” as Sun seeks to ensure it receives fair value for the investment, the company said. The hotelier said in May it plans to sell minority interests in properties in countries including Zambia, Botswana and Namibia for 394 million rand ($29 million) to reduce debt.
The shares were 0.4 percent lower at 91.76 rand as of 2:02 p.m. in Johannesburg, valuing the company at 10 billion rand.
Sun, owner of the Sun City resort northwest of Johannesburg, said full-year diluted adjusted earnings per share excluding one-time items fell 20 percent to 6.28 rand, while sales gained 15 percent to 12.2 billion rand. The final dividend was cut to 1.35 rand a share from 1.75 rand the previous year.
Japanese plastic surgeon gives Nigeria’s Olympics football team $390,000 for coming third
After defeating Honduras in the third place match at the Olympics soccer event on Saturday (Aug. 20), Nigeria’s players ended up with bronze medals on their necks and thousands of dollars in their pockets—thanks to Katsuya Takasu, a Japanese plastic surgeon.
The grinning Takasu flew into Rio to rewarded the team with $390,000 for their bronze medal win at the Rio Games after being impressed by the team’s resilience despite the haphazard planning and poor conditions before and during the Games.
After the Nigerian team was left stranded in Atlanta, USA, ahead of the Games because their flights had not been paid for, their plight made headlines. Eventually, the team landed in Rio just seven hours ahead of their first game, against Japan. But despite the less than ideal circumstances, the team served up an impressive performance to beat the Japan and eventually finished top of their group. But the money troubles didn’t end there. Hours before the quarterfinal match against Denmark, Nigeria’s players threatened to boycott the game in protest over unpaid allowances. After reading the team’s financial struggles, Takasu said he “felt the need to make a big contribution.”
Takasu donated $200,000 to the team to “cover bonuses and allowances” and also donated $10,000 to all members of the 18-man team as well as the team manager for winning bronze. Takasu flew to Rio to personally deliver cheques to the team.
“I had traveled from Tokyo prepared to reward them anyway, and to watch them win the bronze inside the stadium was very fulfilling,” he told BBC.
“This team showed resilience and fought the hardest to achieve success despite all their problems. Some people would have given up but they didn’t,” Takasu is reported to have said.
Takasu’s donation was briefly the subject of corruption allegations as officials of the Nigerian Football Federation (NFF) were forced to deny reports that they planned to make Takasu give the money to the federation rather than to the players. “To say NFF has ‘hijacked’ the money is outright mischief,” Amaju Pinnick, NFF president, said. “Nigeria is a sovereign nation and such a donation must go through a process. If we get a go-ahead, it will go directly to the team.” Reports had suggested the NFF planned to use the donation to offset salaries of members of the coaching staff who have not been paid for the last five months.
Takasu’s gesture was a positive turn in an otherwise poor Olympics outing for Nigeria. Despite lofty targets set by the country’s sports minister, the bronze medal won by the soccer team was the only medal recorded by the entire Olympics contingent.
The grinning Takasu flew into Rio to rewarded the team with $390,000 for their bronze medal win at the Rio Games after being impressed by the team’s resilience despite the haphazard planning and poor conditions before and during the Games.
After the Nigerian team was left stranded in Atlanta, USA, ahead of the Games because their flights had not been paid for, their plight made headlines. Eventually, the team landed in Rio just seven hours ahead of their first game, against Japan. But despite the less than ideal circumstances, the team served up an impressive performance to beat the Japan and eventually finished top of their group. But the money troubles didn’t end there. Hours before the quarterfinal match against Denmark, Nigeria’s players threatened to boycott the game in protest over unpaid allowances. After reading the team’s financial struggles, Takasu said he “felt the need to make a big contribution.”
Takasu donated $200,000 to the team to “cover bonuses and allowances” and also donated $10,000 to all members of the 18-man team as well as the team manager for winning bronze. Takasu flew to Rio to personally deliver cheques to the team.
“I had traveled from Tokyo prepared to reward them anyway, and to watch them win the bronze inside the stadium was very fulfilling,” he told BBC.
“This team showed resilience and fought the hardest to achieve success despite all their problems. Some people would have given up but they didn’t,” Takasu is reported to have said.
Takasu’s donation was briefly the subject of corruption allegations as officials of the Nigerian Football Federation (NFF) were forced to deny reports that they planned to make Takasu give the money to the federation rather than to the players. “To say NFF has ‘hijacked’ the money is outright mischief,” Amaju Pinnick, NFF president, said. “Nigeria is a sovereign nation and such a donation must go through a process. If we get a go-ahead, it will go directly to the team.” Reports had suggested the NFF planned to use the donation to offset salaries of members of the coaching staff who have not been paid for the last five months.
Takasu’s gesture was a positive turn in an otherwise poor Olympics outing for Nigeria. Despite lofty targets set by the country’s sports minister, the bronze medal won by the soccer team was the only medal recorded by the entire Olympics contingent.
Friday, August 19, 2016
Video - Nigeria Quadri is first African to reach table tennis quarters
African athletes are making their mark at these Games, especially on the track. There have already been newly-minted world records thanks to Ethiopia's Almaz Ayana and South Africa's Wayde van Niekerk. But not all performances are about gold medals or world records. Some athletes like Aruna Quadri are making history by breaking new ground.
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