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Market Fire: Dangote Provides Succor, Donates N.5billion to Distraught Kano Traders

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Succor came the way of the over a thousand hitherto dejected traders affected by the Kano Market fire disasters few months ago as the renowned business mogul, Aliko Dangote made good his promise and donated a whooping sum of N500m to rehabilitate them.

Aliko’s donation which came through the Aliko Dangote Foundation, was in response to the appeal by the Kano state government for contributions from public spirited individuals and corporate organizations to help the fire victims come back to business.

No fewer than seven fire disasters have occurred in five major markets across the state within the past few months with no fewer than 1,400 shops and goods estimated at N28 billion gutted by the inferno.

It would be recalled that the state government had in the wake of the last disaster in February, which affected Singa market, set up a judicial commission of enquiry and an appeal committee headed by Alhaji Dangote and another businessman, Usman Tofa, both indigenes of Kano to help raise funds to help the fire victims, most of whom lost everything they sell to the disaster.

Dangote, after the inauguration of his committee pledged N500m and assured the traders that his committee would work assiduously to garner funds to ameliorate the suffering of the traders.

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Presenting the N500m cheque on Monday afternoon in Kano, the CEO of Aliko Dangote Foundation, Mrs. Zouera Youssoufou explained that Africa’s richest man was deeply touched by the plight of the affected traders and that is why he has ensured that the money is available.

Reechoing what Dangote said earlier on his involvement in the provision of succor to the traders, Mrs. Youssoufou stated that the Chairman of Dangote Group would also see other areas he would collaborate with the state to bring relief to the traders as quickly as possible.

She stated that Dangote Foundation has been identifying with various projects in the state and that the donation is just one of the many interventions of the Foundation in Kano state.

In his address of welcome at the ceremony, the State Commissioner for Commerce, Industry, Cooperative and Tourism, Hammed Rabiu commended Alhaji Dangote for the good gesture and said the state would be eternally grateful for the many helps he has rendered to the state in times of need.

“As you can see, with this physical donation, Alhaji Dangote did not just talk by promising assistance, he is walking the talk”, he stated.

Speaking on the donation, the state governor, Dr. Abdulahi Umar Ganduje while thanking Dangote for always rising to the occasion anytime the state calls, urged other Kano sons and daughters to emulate him and contribute to the growth of the state.

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He said that the state government had also donated N500 million to the victims pointing out that a judicial commission was set up to probe the fire incidents and make recommendation and had since turned in its report which has been guiding the state in taking certain decisions to forestall future occurrence.

As part of the implementation of the recommendation of the Commission, Ganduje stated that the government had commenced structural designs and road projects at Kantin Kwari market.

Also he disclosed that lock-up shops have been built for the traders as opposed to the former wooding stalls which are very combustible in the event of fire outbreak.

The Governor assured that every trader that suffered loss would be compensated as the Commission had already accessed the extent of damages and the actual loss suffered by each trader.

With the new development and strategy being out in place, Governor Ganduje said he hoped that the outbreak of fire in Kano markets will stop.

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Senate Approves Tinubu’s $500m Loan for Power Sector Boost

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The Nigerian Senate has approved President Bola Tinubu’s $500 million loan request intended to bolster the operations of the Bureau of Public Enterprises (BPE) to enhance the financial and technical performance of electricity distribution companies, ultimately benefiting citizens.

The endorsement, announced on Tuesday, follows a thorough examination of the report presented by Senator Aliyu Wamakko, who heads the Senate Committee on Local and Foreign Debts overseeing the 2022 – 2024 External Borrowing (Rolling) Plan specifically for the Bureau of Public Enterprises (BPE).

During the presentation of the report, Senator Haruna Manu, serving as the Vice Chairman of the Committee, emphasised the importance for the Senate to duly receive and deliberate upon the report of the Committee on Local and Foreign Debts concerning the 2022 – 2024 External Borrowing (Rolling) Plan for the Bureau of Public Enterprises (BPE).

The $500 million loan constitutes a portion of the $7.94 billion loan originally requested by President Bola Tinubu on November 1st, 2023, within the framework of the 2022-2024 external borrowing plan. In addition to the $500 million, President Tinubu also sought approval for a €100 million loan.

However, during a special plenary session on December 30, the Senate greenlit the borrowing of $7.4 billion after careful consideration of the report furnished by the Committee on Local and Foreign Debt.

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Melinda Gates Resigns from Gates Foundation, Set to Receive $12.5 Billion

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In this file photo taken on September 26, 2018, Bill Gates and his ex-wife, Melinda Gates, introduce the goalkeepers event at the Lincoln Center in New York. Ludovic MARIN / AFP

Melinda French Gates announced Monday she was leaving the philanthropy mega foundation she established with her ex-husband, Microsoft co-founder Bill Gates.

The resignation, which becomes effective on June 7, will leave Bill Gates as the sole chair of one of the world’s most influential and powerful non-governmental organizations.

“After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation,” Melinda French Gates wrote in a statement posted on social media.

The statement gave no reason for her departure, but noted that “under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families.”

The couple married in 1994 but announced their divorce in 2021.

They had continued to co-chair the foundation which they established in 2001 with the vast wealth acquired through the success of Microsoft.

With a focus on child poverty and preventable diseases, the foundation has been heavily involved in fighting malaria and in providing toilets and sanitation in poorer parts of the world.

The foundation’s website says it has spent $53.8 billion since 2000, and claims the number of children around the world who die before their fifth birthday has halved in this time.

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Bill Gates thanked his ex-wife for her “critical contributions” to the organization.

“As a co-founder and co-chair Melinda has been instrumental in shaping our strategies and initiatives, significantly impacting global health and gender equality,” he said.

“I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work.”

The organization’s chief executive, Mark Suzman, said its name would change to simply the Gates Foundation — it has been known as The Bill & Melinda Gates Foundation.

“I truly admire Melinda, and the critical role she has played in starting the foundation and in setting our values, she has played an essential role in all that we’ve accomplished over the past 24 years,” he said in a video posted to social media.

“I will miss working with her and learning from her. I look forward to seeing her continued impact.”

 

 

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EFCC calls on banks’ compliance officers to uphold confidentiality

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The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has urged Compliance Officers of Banks nationwide to refrain from unauthorised disclosure of EFCC’s investigative activities and requests made to banks’ customers.

Speaking through the Acting Zonal Director of the Ibadan Zonal Command of the EFCC, ACE I Hauwa Garba Ringim, during a stakeholders’ meeting with Compliance Officers of Banks in Oyo State on Tuesday, Olukoyede emphasised the detrimental impact such disclosures have on the investigation of financial crimes and the timely filing of corruption cases in court.

Olukoyede expressed concern over the tacit support fraudsters receive from the Nigerian banking sector, highlighting the challenges it poses to the Commission.

He urged Compliance Officers to promptly respond to EFCC’s correspondence with certified true copies of relevant documents, as this facilitates swift investigation processes.

Also, Olukoyede addressed the illegal trading of naira with Point-of-sale (POS) operators, stressing the need to curtail such practices for the benefit of Nigerians.

In response to the chairman’s directives, Compliance Officers assured the EFCC of their unwavering support and commitment to enhancing collaboration between the Commission and banks for more effective anti-corruption efforts.

 

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