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Norway provides NOK 64 million to prevent famine in Somalia.

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Somalia has once again been hit by a severe drought, which could quickly develop into a famine.

‘A large proportion of the population is affected by the drought, and over six million people are in need of food aid. Norway is now increasing its support for humanitarian efforts in the country by NOK 64 million, in an effort to prevent the situation from developing into a new, large-scale famine,’ said Minister of Foreign Affairs Børge Brende.

Just a few years after the major famine of 2011, Somalia has again been hit by drought. This time, the drought is affecting almost the whole country, and therefore threatening larger numbers of people and animals than six years ago. Over the last few months, there has been a dramatic deterioration in the humanitarian situation.

Some 6.2 million people do not have enough food, and the situation is critical for around half of them, according to the UN.

‘The crisis is escalating fast. There are worrying reports that a growing number of people are facing food and water shortages, that the major rivers are drying up and that cattle and other animals are dying,’ said Mr Brende.

“Last year, Norway provided almost NOK 400 million in aid to Somalia”.

The additional funds from Norway will be channelled through the UN, the International Committee of the Red Cross (ICRC) and Norwegian humanitarian organisations that have many years’ experience of working in Somalia.

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‘I am pleased that Somalia’s newly elected president, Mohamed Abdullahi ‘Farmajo’ Mohamed, has said that providing support for those affected by the drought is his number one priority.

It is vital to ensure that people in need of assistance actually have access to aid. The unstable security situation and the armed conflict are still causing considerable problems, not least in the hardest hit areas that are also most in need of aid,’ said Mr Brende.

One of the lessons learnt from the famine of 2011 was that it is crucial to provide humanitarian assistance as quickly as possible to prevent illness, suffering, and death from starvation. It is estimated that 260 000 people died of starvation in 2011.

The crisis forced several hundred thousand people to flee their homes, and further exacerbated the refugee crisis in Somalia’s neighbouring countries, Kenya and Ethiopia.

Last year, Norway provided almost NOK 400 million in aid to Somalia. This included support for efforts to promote food security through the World Food Programme and the UN Refugee Agency (UNHCR).

Norway is also providing funding through the UN Central Emergency Response Fund (CERF), which has allocated NOK 150 million to Somalia for 2017.

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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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