NEWS
Afreximbank Bids Farewell to Long Serving FCI Secretary General, Peter Mulroy
By Tony Obiechina, Abuja
The Africa Export-Import Bank (Afreximbank) has bid farewell to Peter Mulroy, the long serving Secretary General of FCI who has piloted the affairs of the global factoring body for the past 11 years, commending him for making Africa a priority by connecting the continent to the global factoring community.
In a farewell message at the recently concluded FCI Executive Committee and Global Factoring Summit organised by FCI and India Exim in Mumbai, India, Kanayo Awani, Executive Vice-President, Intra-African Trade Bank at Afreximbank and Chairperson of the FCI Africa Chapter, said that Mr.
Mulroy’s support was pivotal in creating awareness and sharing knowledge about factoring at various conferences around Africa.Mrs. Awani, who is also a member of the FCI Executive Committee, commended the commitment shown by Mr. Mulroy for the promotion and growth of factoring in Africa through capacity building events and for his support for the establishment of an enabling legal and regulatory environment through advocacy initiatives, particularly towards the adoption of factoring laws and regulation in Egypt, Congo, Togo, Niger, Cote d’Ivoire, Burkina Faso and Mali, among others.
According to her, Mr. Mulroy is leaving a lasting legacy and the impact of his influence in Africa’s factoring landscape will continue to be felt.
Mrs. Awani, who used the opportunity to welcome incoming Secretary General Neal Harm, said that the Afreximbank team looked forward to working with him to further expand FCI’s intervention in Africa by building on the achievements thus far.
Also commending the outgoing Secretary General on his achievements were Çağatay Baydar, Chairman of FCI, and Mr. Harm, the incoming Secretary General, both of who commended Mr. Mulroy for his hard work, dedication and commitment to the association.
In his response, Mr. Mulroy thanked the members of the executive committee for their support and shared memories of his work with Afreximbank in ensuring that factoring gained prominence in Africa as an alternative financial instrument to support small and medium-sized enterprises (SMEs).
He commended the Bank for playing a central and key role in the milestones achieved in the factoring industry in Africa.
Over the years, key factoring metrics in Africa have been trending upwards, with the number of African members of FCI reaching 46 in 2023, compared to 37 in 2019, and with over US$60 million in factoring lines of credit approved by Afreximbank during the same period and over US$30 million disbursed. These have culminated in Africa’s factoring volume growing from EUR21 billion in 2017 to EUR41 billion in 2022
Afreximbank, together with its strategic partners, have been at the forefront in providing financing, advocacy and support in improving the legal and regulatory environment for factoring to thrive in Africa, creating awareness and strengthening technical capacity while providing various services for factoring companies.
In addition, Afreximbank, in collaboration with FCI, is working to develop a payment repository to directly support the accelerated growth of factoring as an alternative financing tool for SMEs in Africa through increased access to trade credit insurance.The payment repository will provide a platform where trade payables data can be stored and exchanged in order to avail credit insurers with necessary information for offering factors the option to establish insured credit limits on themselves based on payment experience.
NEWS
Police Say at Criminal Responsibility Age, Individuals must be Answerable for Their Actions
The Nigeria Police Force says individuals who have attained the age of criminal responsibility must be answerable for their actions, regardless of biological age.
The Force Public Relations Officer, ACP Olumuyiwa Adejobi, in a statement on Saturday in Abuja said the provision was very clear under the Nigerian law.
He said the provision was in line with global practices, where accountability was upheld for young individuals who commit serious offenses.
Adejobi said the clarification followed public opinion over the arraignment of 76 alleged minors over terrorism, arson and treasonable felony by the Nigeria Police.
According to him, in managing the detention and arraignment of these suspects, the Nigeria Police has rigorously adhered to legal provisions to ensure fairness and accountability under the rule of law.
He said the suspects were initially presented in court, where they were formally charged, with a remand order issued by the court.
“Throughout this process, the police have worked to balance justice with compassion, ensuring that each suspect’s basic rights and privileges are respected, including access to medical care and other necessary provisions.
“An unexpected incident in court saw six of the suspects suddenly rush out and faint on Oct. 1, drawing media attention in a deliberate and scripted manner to draw negative attention.
“Medical aid was promptly provided to these individuals, demonstrating the Police Force’s commitment to the welfare of those in its custody, irrespective of the allegations they face.
“While committed to upholding justice, the Nigeria Police Force remains sensitive to the rights of all individuals, including young persons,” he said.
According to him, as seen in other jurisdictions, including the United Kingdom, age does not exempt individuals from facing legal consequences.
He said the Nigeria Police was aware of public interest in the case and assured that its officers would maintain professionalism throughout the legal process.
Adejobi enjoined the public to view the case without undue bias, adding that the force remains focused on a transparent pursuit of justice.
He said the force would remain committed to aligning with best practices, upholding both the rule of law and respect for human dignity. (NAN)
Education
Bells Varsity Honours 91 Students with First Class at 16th Convocation
Bells University of Technology, Ota, Ogun, on Saturday awarded 91 students of the institution First Class (Honours) at its 16th Convocation Ceremonies.
The convocation ceremonies are for the 2023/2024 academic session.
Ojediran said that a total of 969 students graduated in the academic session.
He said that they comprised the 91 students who made First Class grade, 505 who secured Second Class (Upper Division), 313 with Second Class (Lower Division) and 60 graduating with Third Class.
The vice-chancellor said that 220 students were graduating in the post-graduate category.
Mr Sally Farouk from the university’s Department of Architecture emerged the overall best student with a Cumulative Grade Point Average of 4.
94, according to Ojediran.He said that the institution set out to proffer best solutions from collective knowledge, shared experiences and resources, recognising that education was a lifelong activity.
The vice-chancellor lauded the staff of the university for cooperation and dedication to giving the students quality education.
“You have joined hands with the management of the institution to work on this fertile ground,” he said.
The Pro-Chancellor of the institution, Prof. Bart Nnaji, said that university was the first private university of technology in Nigeria, noting that it was established in 2005.
Nnaji said that the institution had made remarkable achievements in teaching and research as part of its vision to contribute to the growth and development of Nigeria.
“Let me also congratulate the graduating students who have distinguished themselves through their hard work and discipline and are being rewarded today.” he said.
In his remarks, the Chancellor of the institution, Dr Ibrahim Dankwambo, commended former President Olusegun Obasanjo for contributions to education development in the country.
Dankwambo also congratulated a former Executive Secretary of National Universities Commission (NUC), Prof. Peter Okebukola, and the Executive Director of Sahara Group, Mr Temitope Shonubi, for honorary doctoral degree given them by the university.
Report says that Okebukola and Shonubi were conferred with the degree for their outstanding pedigrees and services to humanity. (NAN)
NEWS
Endbadgovernance protest: Suspects not in Custody of NCoS, -Says Spokesman
The Nigeria Correctional Service (NCoS) has said that suspects arrested during the #Endbadgovernance protest in August 2024 were not remanded in any of its adult custodial centres in Abuja.
The Service Public Relations Officer (SPRO) Abubakar Umar confirmed this in a statement on Saturday in Abuja.
our correspondent gathered that the suspects arrested for treason during the #Endbadgovernance protest that held in August 2024, were on Friday, arraigned before Justice Obiora Egwuatu at the Federal High Court, Abuja Division.
Umar said that there were misleading reports making the rounds in some sections of the media purporting that the suspects were remanded in one of the adult custodial centres in Abuja.
According to the NCoS spokesman, the said report has no iota of truth.
”The service operates under the best correctional and global practices.
“To set records straight, the NCoS Act 2019 has empowered the Controllers of Corrections as well as Superintendents-in-charge of Custodial Centres not to admit juveniles in facilities meant for adults.
“The Act also mandates the service to reject more intake of inmates where it is apparent that the custodial facility in question is filled to capacity.
“The service wishes to inform the public that the said suspects were rejected and none of them were remanded in adult custodial facilities as insinuated by the said report.
“The service assures the public that NCoS will continue to emphasise professionalism as well as respect for human rights in line with the United Nations Minimum Standard Rules for the Treatment of Juvenile offenders.
“Furthermore, the general public is enjoined to disregard the said report because it is not the true position of things,”he said.(NAN)