Author: Lawal AbdulSalam Olawale

  • Gulf Allies, Including Saudi Arabia, Provided Critical Intelligence on Planned Iranian Attack

    Gulf Allies, Including Saudi Arabia, Provided Critical Intelligence on Planned Iranian Attack

     

    by Mohammed Omar

    April 15, 2024April 15, 2024

    Several Gulf nations, including Saudi Arabia and the United Arab Emirates, shared critical intelligence regarding Iranian plans to launch a large-scale attack against Israel. These valuable insights played a crucial role in the success of air defense measures that largely repelled the massive assault.

     

    This secret collaboration has been an ongoing US-led effort, primarily aimed at formulating an informal military alliance to counter looming threats from Iran. Iran launched hundreds of ballistic missiles, cruise missiles and drones at Israel over the weekend. However, by Sunday morning, Israeli Defense Forces, with support from the US and other allies, successfully neutralized some 99% of the incoming threats. The few that penetrated the defense shield caused minimal damage.

     

    Jordan’s active part in thwarting drones travelling via its airspace was well documented. But for the first time, it was disclosed that the cooperative activity spanned across regions and included nations without any diplomatic relationship with Israel. According to cited officials, the successful interception of so many drones and missiles could be attributed to Arab nations sharing intelligence on Iran’s scheme and allowing the usage of their airspace, in addition to providing radar tracking.

     

    The involvement of Saudi Arabia, along with other key Arab governments, remains a closely guarded secret.

     

    It must be remembered that April 1 witnessed an alleged Israeli airstrike on a building near the Iranian embassy in Damascus, killing seven members of the Islamic Revolutionary Guard Corps, including two generals. This attack, representing an escalation in the constant conflict along Israel’s northern border, prompted Iran to swear retribution.

     

    Reacting to Iran’s threat, US officials sought help from Arab governments regarding intelligence about Iran’s plans and for countering any potential attack.

     

    At first, Arab governments were leery of assisting Israel due to fears of inciting direct conflict with Iran, facing potential repercussions, and the negative perception of appearing to assist Israel during its conflict with Hamas in the Gaza Strip.

     

    However, Saudi Arabia and the United Arab Emirates eventually assented to privately sharing information, while Jordan acquiesced to allow the US and other countries’ military aircraft to use its airspace. The Jordanian government also agreed to use its own jets for interception.

     

    It is revealed that two days prior to the attack, Iranian officials informed Saudi Arabia and other Gulf states of their retaliation plan against Israel, including the attack profile and timing, enabling these nations to secure their own airspace. This information, shared with the US, was instrumental in formulating defense strategies for both the US and Israel.

     

    As the Iranian attack became imminent, Washington authorized the deployment of aircraft and missile defense systems in the region, further coordinating defensive operations between Israel and Arab allies.

     

    This path was fraught with diplomatic challenges, given Israel’s regional isolation, yet succeeded.

     

    In the report, it was stated that launched missiles and drones were tracked in real-time, courtesy of radars in Persian Gulf countries through a US operations center in Qatar. This information was relayed to fighter jets from various countries, stationed over Jordan and elsewhere, and also warships and Israeli missile defense units.

     

    A significant majority of the drones were eliminated mostly by Israeli and US fighters, with contributions from Jordanian, British, and French warplanes.

     

    A high tension moment was experienced when over 100 Iranian ballistic missiles were headed simultaneously for Israel, yet a greater part of these were neutralized by the country’s air defense networks, both within and beyond its borders.

     

    Assessments indicated that about half of the Iranian ballistic missiles either malfunctioned during launch or fell short of their Israeli targets.

     

    Five missiles slipped through the defenses, causing minor damage at the Nevatim Air Base and a taxiway.

     

    The struggle to create military cooperation between Israel and Sunni Arab states against Iran has been a long-term US project. However, formal military alliances are unattainable due to current political scenarios, leading the US to develop an informal regional air defense coalition.

     

    The strategic realignment of Israel from the European theater to the US Central Command in 2021, in conjunction with the Abraham Accords in 2020, was a turning point.

     

    Although clandestine cooperation is believed to exist between Israel and Saudi Arabia, the kingdom has voiced its unwillingness to establish formal ties until a Palestinian state is formed pursuant to a two-state solution of the Israel-Palestinian conflict.

     

    An Israeli official involved in the regional security cooperation effort agreed that it was the first time the alliance functioned at full throttle.

     

    The eruption of conflict on October 7, instigated by a major cross-border attack on Israel by Hamas, resulted in 1,200 casualties, mostly civilians, and the abduction of 253 people to Gaza. The threat of a major regional war increases, further solidified by the Iranian assault, with western allies reportedly urging Israel to refrain from retaliation

  • Naira makes huge recovery, gains 7.2% against dollar

    Naira makes huge recovery, gains 7.2% against dollar

    THE Naira on Friday experienced huge appreciation at the official market, trading at N1,142.38 to the dollar.

     

    Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira gained N88.23.

     

    This represents a 7.16 per cent gain when compared to the previous trading date on Monday, April 8, exchanging at N1,230.61 to a dollar before the Sallah holiday.

     

    The total daily turnover increased to $281.34 million on Friday up from $125.55 million recorded on Monday.

     

    Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,265 and N1,100 against the dollar.

     

    Economic experts have continued to praise both fiscal and monetary policies of President Bola Tinubu’s administration responsible for the steady Naira appreciation.

     

    The CBN, during its policy meetings held in February and March, implemented a total of 600 basis points in interest rate increases.

     

    This helped tackle dollar scarcity, reduced volatility, and decreased reliance on parallel markets. (NAN)

  • CBN Staff, Osazuwa, Narrates How He Collected $3M Cash For Emefiele

    CBN Staff, Osazuwa, Narrates How He Collected $3M Cash For Emefiele

    The Economic and Financial Crimes Commission, EFCC, on Friday, April 12, 2024, presented its first prosecution witness, PW1, Monday Osazuwa, a Senior Supervisor with the Central Bank of Nigeria, CBN, in the trial of a former Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele and one Henry Omeile

     

     

    Emefiele and Omoile were arraigned by the Lagos Zonal Command of the EFCC on Monday, April 8, 2024, on an amended 26-count charge bordering on alleged $4.5bn and N2.8bn fraud.

     

    former CBN Governor was specifically mentioned in counts one to four as well as counts eight to 26 bordering on alleged abuse of office, contrary and punishable under Section 73 of the Criminal Law of Lagos 2011; accepting gratification, contrary and punishable under Section 8 of the Corrupt Practices and Other Related Offences Act 2000; corrupt demand, contrary and punishable under Section 10 of the Corrupt Practices and Other Related Offences Act 2000; receiving property fraudulently obtained, contrary to and punishable under Section 328 of the Criminal Law of Lagos 2011; and conferring corrupt advantage, contrary to Section 19 of the Corrupt Practices and Other Related Offences Act 2000.

     

    Omoile was mentioned in counts five, six and seven bordering on acceptance of gifts by agents, contrary to Section 65 of the Criminal Law of Lagos State 2015.

     

    One of the counts reads: “That you, Godwin Ifeanyi Emefiele, between 2022 and 2023 in Lagos, within the jurisdiction of this Honourable court, directed to be done in abuse of the authority of your office as the Governor, Central Bank of Nigeria, an arbitrary act, to wit: allocating foreign exchange in the aggregate sum of $2,136,391,737.33 without bids, which act is prejudicial to the rights of Nigerians.”

     

    They pleaded “not guilty” to all the charges when they were read to them.

     

    At the resumed sitting on Friday morning, April 12, Osazuwa, who was led in evidence by the prosecution counsel, Rotimi Oyedepo, SAN, testified that he knew Emefiele from his time at Zenith Bank before becoming the CBN Governor.

     

    The PW1 said: “I worked with him from 2002 to 2014 at Zenith Bank; and then, 2014 to 2023 at the CBN.”

     

    In his examination-in-chief, he also testified that “ I also ran errands for him.

     

    “Sometime in 2020, he called me, while he was outside of Lagos, that he would give me a number to call and that I had something to collect for him.

     

    “The person confirmed the same and gave me another number that it was his boy who would give me.”

     

    He identified the first person as Mohit, who gave him the number of his boy, whom he identified as Mr. Raja.

     

    Continuing, he said : “So, I got there at Adeola Odeku and he welcomed me. I sat down and waited, as he brought the thing and gave me an envelope.

     

    “I said “What is in it?” , and Raja brought it out and counted it. Then, I sealed it back.

     

    He further testified that the envelope contained $100,000 and that Emefiele was not around at the time.

    So, he instructed me to give it to the second defendant for him

    was not the end, as after a few weeks’ interval, he said I should call Mohit, if he had anything.

     

    “Then, again ,I collected the money and they were not the same amount.

     

    “The first defendant said I should be finding out every Friday from Mohit if he had anything to give him.”

     

    He also testified that he was sometimes instructed by Emefiele to deposit cheques in the account of Dumies Oil and Gas.

     

    According to him, the second defendant resides in Emefiele’s house in Ikoyi, Lagos.

     

    He said: “The highest money I collected from Mr. Raja was $1 million, and all the money was in cash.

     

    “There was also $850,000, $750,000, and $400,000.

     

    “I never took anything out of the money. He trusts me. He never said to me that I should take out of it.”

     

    Under cross-examination by the defence counsel, A. Labi-Lawal, he reiterated that he only acted on the instruction of Emefiele.

     

    Earlier in the proceedings, the Judge granted Emefiele bail in the sum of N50 million, with two sureties in like sum.

     

    The sureties must be within the jurisdiction of the court, with evidence of three years tax payment in Lagos.

     

    The second defendant, Omoile, was also granted bail in the sum of N1 million, with two sureties in like sum.

     

    The sureties must be blood relations of the defendant, with evidence of three years tax payment.

     

    In granting him bail, the court adopted the bail earlier granted to the defendant by Justice Sule Hamzat.

     

    “The bail documents must be transmitted to this court,” Justice Oshodi added.

     

    Labi-Lawal then applied for an interim bail, releasing the first defendant to the defence, pending perfection of the bail.

     

    Oyedepo prayed the court for accelerated hearing, and for “in camera” proceedings for the first to seventh witnesses, “because of their safety”.

     

    Responding, Labi-Lawal raised no objections to the prosecutor’s prayer for accelerated hearing, but raised objections to the prayer for in camera proceedings for the said witnesses.

     

    “The prosecution has not substantiated their claim, and so we want a formal application,” Labi-Lawal said.

     

    However, Oyedepo, argued that: “All we want is the protection of these witnesses, and I believe justice is what we are supposed to be seeking”.

     

    Thereafter, Justice Oshodi granted the prayer for accelerated hearing and ordered that a formal application for closed door session of proceedings be filed.

    adjourn the hearing of this application till April 29, 2024 and I direct that the hearing will be in closed session,” he said.

     

    Granting the prayer of the defence for interim bail, Justice Oshodi further ordered that the defence counsel should file an undertaking to produce the defendant on the next date.

     

    “The first defendant will be remanded at the Ikoyi Correctional Centre pending the undertaking by the defence counsel, which I must see,” Justice Oshodi said.

     

    Oyedepo then told the court that a witness of the prosecution was in court and “we are ready to proceed in open court.”

     

    The defence, however, argued that it was not prepared for commencement of trial.

     

    He further argued that he was yet to have access to his client to go through the proof of evidence and the allegations, as Emefiele had been in the custody of the EFCC.

     

    Justice Oshodi, however, held that the court had, on April 8, 2024, adjourned for trial, and so “request by the defence counsel is refused.”

     

    He also adjourned the matter till April 29, May 3, 9 and 17, 2024 for continuation of trial.

  • Financial institutions lost $12bn to cyberattacks in 20 years – IMF

    Financial institutions lost $12bn to cyberattacks in 20 years – IMF

    Washington, April 12, 2024 – The International Monetary Fund (IMF) says financial institutions lost a total of $12 billion to cyberattacks in the last 20 years.

    According to its April 2024 Global Financial Stability Report just released, $2.5 billion out of the amount was lost between 2020 and 2024,

     

    The IMF expressed concern that the rising incidents of cyberattacks on financial institutions globally could affect confidence in the financial system and destabilize economies.

     

    “Financial firms have reported significant direct losses, totaling almost $12 billion since 2004 and $2.5 billion since 2020,” the IMF stated

     

    According to the body, financial firms, given the large amounts of sensitive data and transactions they handle, are often targeted by criminals seeking to steal money or disrupt economic activity.

     

    “Attacks on financial firms account for nearly one-fifth of the total, of which banks are the most exposed

    .Incidents in the financial sector could threaten financial and economic stability if they erode confidence in the financial system, disrupt critical services, or cause spillovers to other institutions.

     

    “Cyber incidents that disrupt critical services like payment networks could also severely affect economic activity. For example, a December attack at the Central Bank of Lesotho disrupted the national payment system, preventing transactions by domestic banks.

    Financial institutions in advanced economies, particularly in the United States, have been more exposed to cyber incidents than firms in emerging market and developing economies,” it said.

     

    Citing JPMorgan Chase as an example, the IMF said the largest US bank recently reported experiencing 45 billion cyber events per day while spending $15 billion on technology every year and employing 62,000 technologists – many focused on cybersecurity.

    It added that cyber incidents are a key operational risk that could threaten financial institutions’ operational resilience and adversely affect overall macro-financial stability. (GBN)

     

  • JUST IN: Ex-Kogi Rep’s member dies in Abuja after Eid prayer

    JUST IN: Ex-Kogi Rep’s member dies in Abuja after Eid prayer

    The Honourable Mohammed Ibrahim Idris, a former House of Representatives member and the son of Ibrahim Idris, the former governor of Kogi State, died today, Wednesday, in Abuja.

     

    He represented Ankpa, Olamaboro, and Omala federal constituencies in the National Assembly’s lower chamber.

     

    He reportedly slumped following Eid prayer at his Abuja home.

    He will be buried according to Islamic law at Gudu Cemetery in Abuja today.

     

    More details to follow

  • Fire: Sanwo-Olu orders indefinite closure of Dosumu market

    Fire: Sanwo-Olu orders indefinite closure of Dosumu market

    The Lagos State Government has directed the suspension of commercial activities at Dosumu Street and its environ.

    The closure was as a result of a fire incident which engulfed four buildings in the area leading to collapse of buildings

     

    Special Adviser to the state Governor on Central Business Distress, CBD, Mrs. Bola Olumegbon Lawal, announced the closure and suspension of immediate business activities in the market and environ, when she led a delegation to the scene for the spot assessment of the situation.

    According to Lawal, measure has become necessary in order to prevent possible loss of life, as well as maintain peace and order in the area.

    She however, appealed to market women and men in the area to pave way for emergency respondents who have timely responded to the incident to effectively perform their duties throughout the rescue operations as required.

     

    The fire which started about noon on Tuesday, witnessed collapsed of two buildings while effort was on going to stop the ranging fire as of press time, 5pm.

     

    Suspended markets

     

    Lawal listed the markets affected by the closure to include: Dosumu, Nnamdi Azikwe, Moshalashi, Woro Pedro, Obanikoro Streets.

     

    Others are: Ago Tawa, Idumagbo Avenue, Idumagbo , Ido – Oluwo and Oju Olobun Streets.

  • Ede Poly Rector Felicitates Muslim Ummar On Eid-el-fitr

    Ede Poly Rector Felicitates Muslim Ummar On Eid-el-fitr

    EID- EL-FITR FELICITATION!!

     

    On behalf of the Management, the entire Staff and Students of the Federal Polytechnic, Ede, Osun State, I, Engr. Dr. Man Yahaya Sani, the Rector of the citadel, hereby rejoice with every Muslim Ummar in the Polytechnic community, as we complete the holy month of Ramadan.

     

    Indeed, we have just fulfilled another important pillar of Islam, for the purpose of strengthening our relationship with Almighty Allah and moving closer to Him through prayers and supplications.

     

    It is also important for all Islamic faithful to see this spiritual exercise as a great opportunity to pray for our nation, especially at this critical period for direction towards navigating our ephemeral economic challenges for prosperity in no distant future.

     

    May the blessings of this special moment be permanent in our lives and that of our loved ones with positivity of remarkable

    impacts.

     

    Consequently, I also use this medium to show our gratitude to all members of Staff for your dedication to duty and steadfastness inspite of array of challenges presently facing the nation; I indeed salute and commend your courage.

     

    Eid-Mubarak

     

    E-signed

     

    Sola Lawal

     

    Protocol, Media and Public Relations Officer.

  • Just in: FG declares Thursday additional holiday for Eid-El-Fitr

    Just in: FG declares Thursday additional holiday for Eid-El-Fitr

    The Federal Government of Nigeria has announced Thursday, April 11, 2024, as an additional public holiday.

     

    This decision was disclosed through a statement issued by Dr. Aishetu Ndayako, the Permanent Secretary of the Ministry of Interior, on Tuesday.

    The announcement, which was shared via the ministry’s official communication channel, highlighted the importance of recognizing Eid-El-Fitr and providing an opportunity for citizens to commemorate the religious occasion.

    The statement said, “The Federal Government has approved Thursday, April 11, 2024 as an additional public holiday to celebrate this year’s Eid-El-Fitr.

     

    The Minister of Interior, Dr Olubunmi Tunji-Ojo, while congratulating the Muslim Ummah for a successful completion of a month of spiritual rejuvenation, reiterates President Bola Ahmed Tinubu’s firm commitment to providing a safe and prosperous Nigeria for all to thrive.”

     

    Saudi Arabia, on Monday, said the crescent of Shawwal has not been sighted, indicating that the fasting will continue on Tuesday.

     

    It also added that the Eid-El-Fitr would hold on Wednesday, April 10 to mark the beginning of the new Islamic month.

     

    Vanguard had earlier Sunday published that FG declared Tuesday and Wednesday, April 9 and 10, 2024, as public holidays to mark the Eid-el-Fitr celebration.

    Also, on Monday, His eminence Sultan Muhammad Sa’ad Abubakar and president General Nigeria Supreme council for Islamic affairs (NSCIA) declared Wednesday the 10th of April 2024 as the first day of Shawwal 1445AH (Eid el Fitr Day) as moon is not sighted anywhere in Nigeria.

     

    Sultan made the statement shortly after receiving the Sultanate Council Advisory Committee in Religious Affairs in conjunction with the National Moon Sighting Committee.

    The committee in their report stated that it had not received any report from various moon sighting committees across the country confirming the sighting of the new moon of Shawwal 1445AH on Monday 8th April 2024 which was the 30th day of Ramadan 1445AH.

     

    EFCC

    Eid el Fitr, which means the holiday of breaking the fast, is celebrated by Muslims worldwide to mark the end of the month-long dawn-to-sunset fasting of Ramadan.

     

     

  • Japa: You Are Better Off In Nigeria, Dabiri-Erewa, Oloyede Counsel Nigerian Youths

    Japa: You Are Better Off In Nigeria, Dabiri-Erewa, Oloyede Counsel Nigerian Youths

    Stakeholders at an online platform have advised Nigerians, especially the youths travelling outside the country, to be more patriotic and travel legitimately for self and national development.

     

    NIDCOM spokesman, Abdur-Rahman Balogun in a statement issued on Monday said this was one of the highlights of the lecture delivered by Hon. Abike Dabiri-Erewa Chairman/CEO Nigerians in Diaspora Commission (NIDCOM) on “Pros and Cons of Japa” at No Dull Moment in Islam (NDMI), an online platform for Muslim Elites and Professionals.

     

    Dabiri-Erewa, who was the Special Guest of Honour, discussed the phenomenon of irregular migration, its negative impacts, and potential ways to mitigate its effects, with a focus on the challenges and opportunities facing Nigeria’s medical personnel and the issue of Nigerians being trafficked to Libya and other countries.

     

    The NIDCOM boss confirmed the mass exodus of Nigerian youths under the guise of looking for better opportunities elsewhere without having the intention of returning back to the country to give back.

     

    She said that though the country is passing through some challenges which is global and been faced by the countries where some of them are running into

     

    She, however, said migration is the fundamental rights of an individual but such movement must be justified and evaluated before embarking on it.

     

    Dabiri-Erewa recalled how the Commission alongside other agencies of government have facilitated the return of over 10,000 stranded Nigerians from Libya alone, as well as from Saudi Arabia, UAE, South Africa, Lebanon, Germany among others.

     

    She said some of them have subjected themselves to menial jobs that they cannot do in Nigeria, some lost their lives in the process while others have sold their family inheritance just because they want to migrate (Japa ).

     

    She implored the Nigerian professionals to increase awareness and education about the negative effects of irregular migration and the importance of seeking employment within Nigeria.

     

    On the side of the Federal Government of Nigeria, she assured that the new administration of President Bola Ahmed Tinubu will implement reforms to create more job opportunities and improve the economy, aiming to reduce the need for migration.

    reiterated the resolve of her Commission to work on strategies to prevent Nigerians from being trapped in situations like those in Libya, ensuring safe return for those who have already been affected through aggressive advocacy and partnership with relevant agencies of government.

     

    In his contribution, Prof. Is-haq Oloyede, Registar of Joint Admissions and Matriculation Board (JAMB) who also doubles as Secretary-General Nigerian Supreme Council for Islamic Affairs (NSCIA) also explored the reasons for migration from an Islamic perspective, the need for economic advancement and knowledge transfer within their community, and the potential of harnessing the diaspora to improve the country’s economy and security.

     

    Oloyede who shared his expriences in interaction with some Nigerians who travelled outside the country, canvassed for more collaboration with government agencies to stem the tide of irregular migration and thus reducing brain drain and encourage Nigerian diaspora to invest in Nigeria’s economy.

     

    The JAMB Registrar expressed his willingness to work with the Minister of State for Health, who is in charge of Nigeria Medicals in the diaspora, to implement recommendations for improving the health sector in Nigeria .

    Prof Is-haq Oloyede shared his recent experience of trying to import medical equipment for the use of teaching hospitals in Nigeria which attracted huge custom duties, capable of discouraging donors thus highlighted the need for a standing committee to scrutinize new equipment and ensure its authenticity.

     

    Speaking in the same vein, Prof. Lateef Sanni, the Executive Director of the Nigerian Stored Products Research Institute (NSPRI), Ilorin, detested how some of his colleagues refused to return to Nigeria after studying abroad to apply their acquired knowledge and skills.

     

    He argued that India, China and Singapore utilised the experiences of their returned diaspora for national development thus proposing utilising the experiences of Nigerians who have returned from abroad as advocates and taking advocacy messages to religious houses.

     

    Participants at the webinar also discussed the potential of harnessing the diaspora to improve the country’s economy and security, while acknowledging the challenges of changing mindset and promoting their message.

     

    The participants expressed determination to continue their efforts towards improving the situation thus urging President Bola Ahmed Tinubu’s administration to support the returnees by providing enabling environment for them to thrive.

     

    Similarly, participants highlighted the difficulties faced by professionals trying to bring in their expertise into the country, including financial and bureaucratic hurdles which should be removed by the government as an incentive for investors in the country.

     

    Above all, the participants emphasised the importance of patriotism and community involvement in social development, particularly through a cultural renaissance as well as advocated for a stronger social security system to assist the unemployed, and encouraged greater volunteer service to strengthen the country’s fabric.

     

    They equally proposed to the government that the Japa team, which consists of Nigerians working abroad, could act as agents to assist their fellow citizens seeking employment overseas, thereby contributing to the country’s national development.

     

    It was also recommended that those migrating outside the country based on frustrations about the difficulties graduates face in Nigeria, should explore legal requirements for job legitimacy.

     

    Earlier in his welcome speech, Dr Mutiu Agboke, the Coordinator of NDMI said the platform is for Muslim Elites and Professionals across the globe championing issues of national cohesion and development through its regular online lectures where the resolutions are passed to relevant agencies for execution.