A Nigerian election tribunal rejected a bid by the main opposition candidate to overturn the result of February's presidential election, which saw Muhammadu Buhari returned to office.
Defeated contender Atiku Abubakar, a businessman and former vice president, was the candidate of the main opposition People's Democratic Party (PDP).
"This petition is hereby dismissed in its entirety," Justice Mohammed Lawal Garba said in announcing the ruling on Wednesday. All five judges who presided over the tribunal rejected Atiku's claims.
The defeat for Atiku was widely anticipated. Buhari, a 76-year-old former military ruler, was re-elected after first taking office as an elected leader in 2015.
The tribunal rejected all three of Atiku's claims: that the election was marred by irregularities, that he received more votes than Buhari, and the president did not have a secondary school certificate, a basic requirement to contest the election.
The PDP said it would mount an appeal against the ruling at the country's Supreme Court.
Buhari took 56 percent of the vote against 41 percent for Atiku, the electoral commission said in February, but with a turnout of just 35.6 percent compared with 44 percent in 2015.
Atiku rejected the result hours after Buhari was declared the victor and said he would mount a legal challenge.
"It is time for the country to move forward as one cohesive body, putting behind us all bickering and potential distractions over an election in which Nigerians spoke clearly and resoundingly," said Buhari in a statement on Wednesday following the tribunal's ruling.
The PDP said in a tweet it "completely rejects the judgment", which it described as a "direct assault on the integrity of our nation's justice system".
Every election result has been contested unsuccessfully since Nigeria returned to democracy in 1999, with the exception of the 2015 poll in which Goodluck Jonathan conceded defeat to Buhari.
Al Jazeera
Thursday, September 12, 2019
Wednesday, September 11, 2019
Online-only bank startup in Nigeria raises $1.6m
Nigerian fintech startup Kuda — a digital-only retail bank — has raised $1.6 million in pre-seed funding.
The Lagos and London-based company recently launched the beta version of its online mobile finance platform. Kuda also received its banking license from the Nigerian Central Bank, giving it a distinction compared to other fintech startups.
“Kuda is the first digital-only bank in Nigeria with a standalone license. We’re not a mobile wallet or simply a mobile app piggybacking on an existing bank,” Kuda bank founder Babs Ogundeyi told TechCrunch.
“We have built our own full-stack banking software from scratch. We can also take deposits and connect directly to the switch,” Ogundeyi added, referring to the Nigeria’s Central Switch — a SWIFT-like system that facilitates bank communication and settlements.
A representative for the Central Bank of Nigeria (speaking on background) confirmed Kuda’s banking license and status, telling TechCrunch, “As far as I’m aware there is no other digital bank [in Nigeria] that has a micro-finance license.”
Kuda offers checking accounts with no monthly-fees, a free debit card, and plans to offer consumer savings and P2P payments options on its platform in coming months.
“You can open a bank account within five minutes, do all the KYC in the app, and you get issued a new bank account number,” according to Ogundeyi.
Ogundeyi — a repeat founder who exited classifieds site Motortradertrader.ng and worked in a finance advisory role to the Nigerian government — co-founded Kuda in 2018 with former Stanbic Bank software developer Musty Mustapha.
The two convinced investor Haresh Aswani to lead the $1.6 million pre-seed funding, along with Ragnar Meitern and other angel investors. Aswani confirmed his investment to TechCrunch and that he will take a position on Kuda’s board.
Kuda plans to use its seed funds to go from beta to live launch in Nigeria by fourth-quarter 2019. The startup will also build out the tech of its banking platform, including support for its developer team located in Lagos and Cape Town, according to Ogundeyi.
Kuda also intends to expand in the near future. “It’s Nigeria for right now, but the plan is build a Pan-African digital-only bank,” he said.
As of 2014, Nigeria has held the dual distinction as Africa’s largest economy and most populous country (with 190 million people).
To scale there, and add some physical infrastructure to its online model, Kuda has correspondent relationships with three of Nigeria’s largest financial institutions: GTBank, Access Bank and Zenith Bank.
He clarified the banks are partners and not investors. Kuda customers can use these banks’ branches and ATMs to put money into bank accounts or withdraw funds without a fee.
“Even though we don’t own a single branch, we actually have the largest branch network in the country,” Ogundeyi claimed.
Kuda’s plans to generate revenues focus largely around leveraging its bank balances. “We plan to match different liability classes to the different asset classes that we create. That’s how we make money, that’s how we get efficiency in terms of income,” Ogundeyi said.
In Nigeria, Kuda enters a potentially revenue-rich market, but its one that already hosts a crowded fintech field — as the country becomes ground zero for payments startups and tech investment in Africa.
In both raw and per capita numbers, Nigeria has been slower to convert to digital payments than leading African countries, such as Kenya, according to joint McKinsey Company and Gates Foundation analysis done several years ago. The same study estimated there could be nearly $1.3 billion in revenue up for grabs if Nigeria could reach the same digital-payments penetration as Kenya.
A number of startups — established and new — are going after that prize in the West African country — several with a strategy to scale in Nigeria first before expanding outward on the continent and globally.
San Francisco-based, no-fee payment venture Chipper Cash entered Nigeria this month.
Series B-stage Nigerian payments company Paga raised $10 million in 2018 to further grow its customer base (that now tallies 13 million) and expand to Asia and Latin America.
Kuda CEO Babs Ogundeyi believes the startup can scale and compete in Nigeria on a number of factors, one being financial safety. He names the company’s official bank status and the Nigeria Deposit Insurance Corporation security that brings as something that can attract cash-comfortable bank clients to digital finance.
Ogundeyi also points to offerings and price.”We look to be the next generation bank where you can do everything— savings, payments and transfers — and also the one that’s least expensive,” he said.
By Jake Bright
Tech Crunch
The Lagos and London-based company recently launched the beta version of its online mobile finance platform. Kuda also received its banking license from the Nigerian Central Bank, giving it a distinction compared to other fintech startups.
“Kuda is the first digital-only bank in Nigeria with a standalone license. We’re not a mobile wallet or simply a mobile app piggybacking on an existing bank,” Kuda bank founder Babs Ogundeyi told TechCrunch.
“We have built our own full-stack banking software from scratch. We can also take deposits and connect directly to the switch,” Ogundeyi added, referring to the Nigeria’s Central Switch — a SWIFT-like system that facilitates bank communication and settlements.
A representative for the Central Bank of Nigeria (speaking on background) confirmed Kuda’s banking license and status, telling TechCrunch, “As far as I’m aware there is no other digital bank [in Nigeria] that has a micro-finance license.”
Kuda offers checking accounts with no monthly-fees, a free debit card, and plans to offer consumer savings and P2P payments options on its platform in coming months.
“You can open a bank account within five minutes, do all the KYC in the app, and you get issued a new bank account number,” according to Ogundeyi.
Ogundeyi — a repeat founder who exited classifieds site Motortradertrader.ng and worked in a finance advisory role to the Nigerian government — co-founded Kuda in 2018 with former Stanbic Bank software developer Musty Mustapha.
The two convinced investor Haresh Aswani to lead the $1.6 million pre-seed funding, along with Ragnar Meitern and other angel investors. Aswani confirmed his investment to TechCrunch and that he will take a position on Kuda’s board.
Kuda plans to use its seed funds to go from beta to live launch in Nigeria by fourth-quarter 2019. The startup will also build out the tech of its banking platform, including support for its developer team located in Lagos and Cape Town, according to Ogundeyi.
Kuda also intends to expand in the near future. “It’s Nigeria for right now, but the plan is build a Pan-African digital-only bank,” he said.
As of 2014, Nigeria has held the dual distinction as Africa’s largest economy and most populous country (with 190 million people).
To scale there, and add some physical infrastructure to its online model, Kuda has correspondent relationships with three of Nigeria’s largest financial institutions: GTBank, Access Bank and Zenith Bank.
He clarified the banks are partners and not investors. Kuda customers can use these banks’ branches and ATMs to put money into bank accounts or withdraw funds without a fee.
“Even though we don’t own a single branch, we actually have the largest branch network in the country,” Ogundeyi claimed.
Kuda’s plans to generate revenues focus largely around leveraging its bank balances. “We plan to match different liability classes to the different asset classes that we create. That’s how we make money, that’s how we get efficiency in terms of income,” Ogundeyi said.
In Nigeria, Kuda enters a potentially revenue-rich market, but its one that already hosts a crowded fintech field — as the country becomes ground zero for payments startups and tech investment in Africa.
In both raw and per capita numbers, Nigeria has been slower to convert to digital payments than leading African countries, such as Kenya, according to joint McKinsey Company and Gates Foundation analysis done several years ago. The same study estimated there could be nearly $1.3 billion in revenue up for grabs if Nigeria could reach the same digital-payments penetration as Kenya.
A number of startups — established and new — are going after that prize in the West African country — several with a strategy to scale in Nigeria first before expanding outward on the continent and globally.
San Francisco-based, no-fee payment venture Chipper Cash entered Nigeria this month.
Series B-stage Nigerian payments company Paga raised $10 million in 2018 to further grow its customer base (that now tallies 13 million) and expand to Asia and Latin America.
Kuda CEO Babs Ogundeyi believes the startup can scale and compete in Nigeria on a number of factors, one being financial safety. He names the company’s official bank status and the Nigeria Deposit Insurance Corporation security that brings as something that can attract cash-comfortable bank clients to digital finance.
Ogundeyi also points to offerings and price.”We look to be the next generation bank where you can do everything— savings, payments and transfers — and also the one that’s least expensive,” he said.
By Jake Bright
Tech Crunch
Banned Shia group in Nigeria allege police killed 12 marchers
A Nigerian Shia group banned by the government said police killed 12 of members and wounded 10 others during marches in the north of country to mark the religious commemoration known as Ashoura.
Spokesman Ibrahim Musa said the Shia marchers were killed in the northern states of Kaduna, Bauchi, Gombe, Sokoto, and Katsina on Tuesday.
"The Islamic Movement in Nigeria has confirmed the killing of at least a dozen Ashoura mourners across the nation during the peaceful Ashoura mourning procession today," said Musa.
The group, the Islamic Movement of Nigeria (IMN), was banned in July after a series of deadly clashes with police. IMN said the police were responsible for the deaths of at least 20 people in July but the police gave no death toll.
Police in the northern city of Kaduna, where IMN said three were killed and 10 injured on Tuesday, disputed the account and said it dispersed marchers "professionally".
A national police spokesman did not immediately respond to a request for comment.
The group was marching to mark Ashoura, the day in Islamic tradition when the Prophet Mohammed's grandson, Imam Hussein, died in battle in 1680.
Police had warned IMN members not to march, saying any gathering or procession by group members is "ultimately illegal and will be treated as a gathering in the advancement of terrorism".
Leader imprisoned
IMN said police attacked its marchers on Tuesday and, in Katsina, opened fire on them. It said members were killed in Bauchi, Gombe and Sokoto states, all in northern Nigeria, but marches in the capital, Abuja, and other northern states ended without incident.
Clashes with police in the last few weeks followed calls by the group for its leader to be released from police detention.
Their leader, Ibrahim el-Zakzaky, has been held since 2015 when government forces killed about 350 people after storming an IMN compound and a nearby mosque.
While roughly half of the nearly 200 million Nigerians are Muslim, mostly concentrated in the north of the country, Shia are a minority.
Last week the United Nations special rapporteur on extrajudicial, summary or arbitrary executions said she had not been presented with any evidence to suggest IMN was weaponised and posed a threat to Nigeria.
Al Jazeera
Spokesman Ibrahim Musa said the Shia marchers were killed in the northern states of Kaduna, Bauchi, Gombe, Sokoto, and Katsina on Tuesday.
"The Islamic Movement in Nigeria has confirmed the killing of at least a dozen Ashoura mourners across the nation during the peaceful Ashoura mourning procession today," said Musa.
The group, the Islamic Movement of Nigeria (IMN), was banned in July after a series of deadly clashes with police. IMN said the police were responsible for the deaths of at least 20 people in July but the police gave no death toll.
Police in the northern city of Kaduna, where IMN said three were killed and 10 injured on Tuesday, disputed the account and said it dispersed marchers "professionally".
A national police spokesman did not immediately respond to a request for comment.
The group was marching to mark Ashoura, the day in Islamic tradition when the Prophet Mohammed's grandson, Imam Hussein, died in battle in 1680.
Police had warned IMN members not to march, saying any gathering or procession by group members is "ultimately illegal and will be treated as a gathering in the advancement of terrorism".
Leader imprisoned
IMN said police attacked its marchers on Tuesday and, in Katsina, opened fire on them. It said members were killed in Bauchi, Gombe and Sokoto states, all in northern Nigeria, but marches in the capital, Abuja, and other northern states ended without incident.
Clashes with police in the last few weeks followed calls by the group for its leader to be released from police detention.
Their leader, Ibrahim el-Zakzaky, has been held since 2015 when government forces killed about 350 people after storming an IMN compound and a nearby mosque.
While roughly half of the nearly 200 million Nigerians are Muslim, mostly concentrated in the north of the country, Shia are a minority.
Last week the United Nations special rapporteur on extrajudicial, summary or arbitrary executions said she had not been presented with any evidence to suggest IMN was weaponised and posed a threat to Nigeria.
Al Jazeera
Nigeria commences repatriation of Nigerians from South Africa
Nigeria has started the process of repatriating more than 600 of its citizens from South Africa following a wave of deadly xenophobic attacks that has frayed relations between the two countries.
Private Nigerian airline Air Peace, has volunteered to fly people for free back to Lagos. At least 320 Nigerians are expected to be flown out on Wednesday, while a second flight will depart on Thursday. At least 640 Nigerians have signed up for the flights.
Al Jazeera's Fahmida Miller, reporting from the airport in Johannesburg, said on Wednesday that "of the more [than] 600 people who [were] expected to leave, at least half of them" were already there, while a "small group of people were turned back, due to incorrect documentation."
The repatriation came after deadly riots in Pretoria and Johannesburg killed at least 12 people, including two foreigners, and targeted 1,000 foreign-owned businesses.
The violence sparked international outcry and calls for a boycott.
Reprisal attacks in Nigeria forced South African business to shut down while the South African embassy in Lagos temporarily closed its doors over safety fears.
Speaking to Al Jazeera, Pastor Ugo Ofoegbu, who was at the airport to board the flight, said that "some [people] had an expired passport."
"They will have to go to the Nigerian consulate to get the [right] documentation that will allow them to travel," the added.
Ayanda Dlodlo, South Africa's minister of state security, told reporters in Cape Town on Monday that those leaving will have to go through immigration processes.
Police on high alert
This is not the first time that foreigners have been attacked in South Africa. In 2008, at least 62 people, including South Africans, were killed, while deadly violence and looting targeting foreign-owned stores left seven dead in 2015.
"I am so worried about the safety of my family, because these [xenophobic] attacks keep happening, so if I don't save my family now, I don't know when [this will] start again," Ofoegbu said
"It happened in 2008, and then in 2015, now it is repeating, so nobody knows when will it happen again," he added.
The root causes of the latest wave of violence are still unclear but reports suggest it is related to high unemployment, criminality and poverty in the country.
Around 700 people are believed to be housed at temporary shelters in Johannesburg, while Mozambique and Zimbabwe were also considering some sort of repatriation of their nationals.
However, South African officials were hesitant to describe the wave of violence as xenophobic attacks, and instead said this was an issue of criminality that the government was trying to deal with.
"While there has been a significant decline in the number of incidents, police forces remain on high alert and are closely monitoring hotspots to ensure further violence does not erupt," Minister of Defence Nosiviwe Mapisa-Nqakula said.
Police have arrested at least 653 people, mostly South Africans but some foreigners as well, in connection with the attacks, Minister of Police Bheki Cele said on Tuesday.
Nigeria's President Muhammadu Buhari is expected to visit South Africa next month to discuss the attacks and seek a solution.
Al Jazeera
Related stories: Nigeria to repatriate 600 Nigerians from South Africa due to xenophobic violence
Nigeria withdraws from summit in South Africa after deadly riots
Private Nigerian airline Air Peace, has volunteered to fly people for free back to Lagos. At least 320 Nigerians are expected to be flown out on Wednesday, while a second flight will depart on Thursday. At least 640 Nigerians have signed up for the flights.
Al Jazeera's Fahmida Miller, reporting from the airport in Johannesburg, said on Wednesday that "of the more [than] 600 people who [were] expected to leave, at least half of them" were already there, while a "small group of people were turned back, due to incorrect documentation."
The repatriation came after deadly riots in Pretoria and Johannesburg killed at least 12 people, including two foreigners, and targeted 1,000 foreign-owned businesses.
The violence sparked international outcry and calls for a boycott.
Reprisal attacks in Nigeria forced South African business to shut down while the South African embassy in Lagos temporarily closed its doors over safety fears.
Speaking to Al Jazeera, Pastor Ugo Ofoegbu, who was at the airport to board the flight, said that "some [people] had an expired passport."
"They will have to go to the Nigerian consulate to get the [right] documentation that will allow them to travel," the added.
Ayanda Dlodlo, South Africa's minister of state security, told reporters in Cape Town on Monday that those leaving will have to go through immigration processes.
Police on high alert
This is not the first time that foreigners have been attacked in South Africa. In 2008, at least 62 people, including South Africans, were killed, while deadly violence and looting targeting foreign-owned stores left seven dead in 2015.
"I am so worried about the safety of my family, because these [xenophobic] attacks keep happening, so if I don't save my family now, I don't know when [this will] start again," Ofoegbu said
"It happened in 2008, and then in 2015, now it is repeating, so nobody knows when will it happen again," he added.
The root causes of the latest wave of violence are still unclear but reports suggest it is related to high unemployment, criminality and poverty in the country.
Around 700 people are believed to be housed at temporary shelters in Johannesburg, while Mozambique and Zimbabwe were also considering some sort of repatriation of their nationals.
However, South African officials were hesitant to describe the wave of violence as xenophobic attacks, and instead said this was an issue of criminality that the government was trying to deal with.
"While there has been a significant decline in the number of incidents, police forces remain on high alert and are closely monitoring hotspots to ensure further violence does not erupt," Minister of Defence Nosiviwe Mapisa-Nqakula said.
Police have arrested at least 653 people, mostly South Africans but some foreigners as well, in connection with the attacks, Minister of Police Bheki Cele said on Tuesday.
Nigeria's President Muhammadu Buhari is expected to visit South Africa next month to discuss the attacks and seek a solution.
Al Jazeera
Related stories: Nigeria to repatriate 600 Nigerians from South Africa due to xenophobic violence
Nigeria withdraws from summit in South Africa after deadly riots
Tuesday, September 10, 2019
Video - Children held in 'horrific conditions over Boko Haram ties in Nigeria
Thousands of children have been held in recent years by Nigeria's military in "degrading and inhuman conditions" for alleged association with the Boko Haram armed group, Human Rights Watch (HRW) has said, calling for their "immediate" release. The HRW says children have been forced to stay in squalid conditions and not allowed to see family members. The military denies the accusations.
Subscribe to:
Posts (Atom)