News
Terrorism ‘spreading and destabilizing’ entire regions, Guterres warns States
“Trauma from terrorism” hurts families, communities and destabilizes entire regions, UN Secretary-General António Guterres said on Wednesday, as he expressed solidarity with victims of extremist attacks in Africa.
Africans on ‘front line’ against terror
The deteriorating situation in the Sahel and “increasing risks” in West Africa are also deeply concerning, the UN chief continued, amid ongoing attacks by armed militants in the Lake Chad region, central Mali, Burkina Faso and Niger.
In light of these developments, “there is an urgent need for the international community to support Member States in this region”, Mr. Guterres said, noting that the people of Africa “are on the front line of efforts to tackle terrorism and the spread of violent extremism”.
Women’s role countering extremists, ‘inspirational’
Welcoming the determination of Africans to find solutions to terrorism, the UN Secretary-General highlighted the “inspirational” role of women in prevention efforts.
“All over the continent, women are taking matters into their own hands,” he said, before noting that all terror groups subjugated women and girls, regardless of their ideology.
They are “engaging with local leaders, mayors, young people, children and their fellow men, to fight against exclusion, marginalization, inequality and abuse – the conditions that lead many to radicalisation and conflict,” he said.
At the same time, the UN Secretary-General also cautioned that such efforts could not succeed without long-term political commitment from the international community.
In addition to “strong and clear mandates” from the Security Council, he insisted that there should also be “sufficient, predictable and sustainable financial support” for African peace-enforcing and counter-terrorism operations.
“We must not allow terrorism to undermine the great progress that is being made on this continent,” Mr. Guterres said, insisting that an “integrated, prosperous and peaceful Africa…continued to be “a top priority” for the United Nations.
‘State violence and abuse of power’ often ‘tipping point’ to terror
In a call for greater efforts from African States and the international community to unite against terrorism, the UN Secretary-General also noted that more should be done to tackle the “drivers and enablers” of violent extremism.
Within the UN, he noted that the organization had itself prioritized capacity-building projects for African countries on issues such as mitigating the threat of foreign terrorist fighters, empowering youth, countering terrorist financing and improving aviation security.
“Nothing can justify terrorism and violent extremism, but we must also acknowledge that they do not arise in a vacuum”, he said, insisting that “actual or perceived injustice and promised empowerment become attractive wherever human rights are being violated, good governance is being ignored and aspirations are being crushed”.
A lack of education and poverty were factors behind radicalization, Mr. Guterres continued, “but the final tipping point” is often State-led violence and the abuse of power, he maintained.
States should do more to address these risk factors, in addition to preventing conflicts, strengthening state institutions and civil society, building durable peace and promoting sustainable development to tackle the poverty, inequality and lack of opportunity that feed despair, he insisted.
The headquarters of Heritage Bank at Victoria Island, Lagos, was besieged on Thursday by members of the labour union, protesting the recent dismissal of 1,000 support workers.
The National President of the National Union of Banks, Insurance and Financial Institutions Employees, Comrade Anthony Abakpa, led the demonstration, condemning the bank’s management for what he deemed a lack of adherence to due process in the termination of employment contracts.
Speaking during the protest, Comrade Abakpa asserted that the leadership of Heritage Bank failed to follow established protocols before executing the mass layoffs.
He emphasised the union’s commitment to pursuing justice for the affected workers, vowing to escalate their demands until the bank’s management rectifies the situation.
“We will intensify our demands for justice,” declared Comrade Abakpa, urging the bank’s management to take corrective action to address the grievances of the dismissed workers.
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, clarified that Nigeria is not utilising its foreign reserves to bolster the naira, despite recent fluctuations in reserve levels.
Speaking from Washington DC, where he is attending the International Monetary Fund-World Bank Spring Meetings, Cardoso highlighted the influx of $600 million into Nigeria’s reserves account within the past two days.
While the naira has experienced a notable appreciation against the dollar in recent weeks, climbing over 40% from approximately N1,900/$ to about N1,000/$1, Nigeria’s foreign reserves have been dwindling. As of April 15, reserves dropped to approximately $32.29 billion, marking the lowest level in over six years.
Cardoso emphasised that the shifts in reserves are typical for any country, where various financial obligations, such as debt repayments, necessitate withdrawals.
He stated, “What you’ve seen with respect to the shift in our reserves is normal in any country’s reserves where, for example, debts are due and certain payments need to be made. They are made because that is also part of keeping your credibility.”
Continuing, Cardoso underscored the dynamic nature of the market, advocating for a system driven by willing buyers, willing sellers, and price discovery.
He emphasised, “The shift in our reserves has really little or nothing to do with defending the naira, and that is certainly not our objective.”
Dangote Petroleum Refinery has made headlines by announcing a further reduction in the price of diesel, dropping it from ₦1200 to ₦1000 naira per litre.
The refinery’s decision comes on the heels of its recent supply at a significantly reduced price of ₦1200 per litre, which was introduced three weeks ago, signifying a remarkable 30 per cent decrease from the previous market price of approximately ₦1600 per litre.
This substantial reduction in diesel prices at Dangote Petroleum Refinery is expected to reiterate positively throughout various sectors of the economy, potentially serving as a catalyst in alleviating the persistently high inflation rate in the country.
In a statement last week, Aliko Dangote, Africa’s wealthiest individual and the owner of the refinery, expressed his optimism regarding the potential impact of the price reduction on inflation in Nigeria.
“I believe that we are on the right track. I believe Nigerians have been patient, and I also believe that a lot of goodies will now come through. There’s quite a lot of improvement because if you look at it, one of the major issues that we’ve had was the naira devaluation that has gone very aggressively up to about ₦1900,” he remarked.
As anticipation builds around the implications of this move by Dangote Petroleum Refinery, stakeholders and consumers alike remain hopeful for the positive effects it could bring to the Nigerian economy in the coming months.
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