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Bomb kills at least 25, wounds over 90 others, as US-led foreign troops exit Afghanistan

A powerful vehicle-borne bomb in an eastern Afghan city has killed at least 25 people and wounded more than 90 others, officials in Afghanistan said Friday.

The deadly violence came a day before the United States and its NATO partners officially begin withdrawing the last of their troops from the conflict-torn country.

An Afghan interior ministry spokesman, Tariq Arian, said he expected the death toll to increase. He said the late-evening attack occurred outside a crowded civilian guest house in Pul-e-Alam, the capital of Logar province, about 70 kilometers east of the Afghan capital, Kabul. 

There were no immediate claims of responsibility for the violence, but officials quickly accused the Taliban insurgency of plotting it.

The military drawdown of about 2,500 U.S. troops and about 7,000 allied troops has begun, though it was officially set to start Saturday, with withdrawal to be completed by September 11. The pullout is intended to end the nearly two-decade-long Afghan war, America’s longest.

Envoys from the U.S., Russia, China and Pakistan meet with Taliban leaders in Doha, Qatar, to discuss Afghan peace, April 30,2021. (Taliban photo)

Five-party Doha huddle

Friday’s bombing came just hours after U.S. special Afghan peace envoy Zalmay Khalilzad and his Russian, Pakistani and Chinese counterparts met with Taliban leaders in Qatar to press them to advance stalled peace talks with Afghan rivals.

A senior Taliban leader, Sher Abbas Stanikzai, led his team at the talks in Doha, the Qatari capital.

The foreign military exit has fueled fears that Afghan violence will intensify unless the Taliban and Kabul resume what are officially known as intra-Afghan peace negotiations and reach a power-sharing deal.

Taliban spokesman Mohammad Naeem said that the five-party discussions in Doha focused on the removal of insurgent leaders’ names from a U.N. sanctions list, the release of Taliban prisoners from Kabul government jails and other Afghan peace-related issues.

“All sides agreed that practical work should start on removal of the names from the blacklist,” Naeem said in a post-meeting statement.

The four-nation group also met members of the Afghan government negotiating team in Doha.

In a joint statement issued after meetings with both sides, the U.S., Russian, Pakistani and Chinese governments reiterated that the withdrawal of foreign troops should ensure a steady transition of the situation in Afghanistan.

“We stress that, during the withdrawal period, the peace process should not be disrupted, no fights or turbulence shall occur in Afghanistan, and the safety of international troops should be ensured,” it said.

Taliban urged to forgo offensive

The statement called on all parties to the conflict in Afghanistan to reduce the level of violence in the country, and it urged the Taliban not to pursue their “spring offensive,” referring to stepped-up insurgent attacks against Afghan security forces during the traditional summer fighting season.

The intra-Afghan talks, which started last September in Doha, stemmed from a February 2020 deal Washington signed with the Taliban that set the stage for the U.S.-led foreign troops to leave the country.

The troops were to have departed Afghanistan by May 1 in line with the U.S.-Taliban deal in exchange for cessation of insurgent attacks on foreign forces and counterterrorism assurances.

However, U.S. President Joe Biden announced earlier this month that the drawdown would start May 1, citing logistical reasons for missing the deadline.

The drawdown has begun, White House deputy press secretary Karine Jean-Pierre told reporters Thursday. And a NATO official confirmed to VOA that some of the 7,000 troops sent to Afghanistan as part of the multinational Operation Resolute Support had also left the country.

The Taliban denounced the deal violation and refused to participate in any Afghan peace-related meetings until all U.S. and NATO forces were out of  Afghanistan. (VOA)

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Controversy as two Iyalojas emerge in Oyo

The recent emergence of two Iyalojas in Oyo State has begun to stir up controversies. The battle over the control of market men and women in the state continues as Alaafin of Oyo and traders favoured different candidates as the Iyaloja-General.

While the coalition of Traders, Artisans, Market Men and Women in the state appointed Alhaja Saratu Aduke Konibaje – the Otun to the late Iyaloja general Alhaja Wuraola Asake-Koladaisi, as the new Iyaloja General, the Alaafin of Oyo – Oba Lamidi Adeyemi, allegedly installed Princess Azeezat Folashade Abeo Nurudeen as Iyaloja General for Oyo State with the support of some traders.

The groups installed their separate Iyaloja General same day at separate venues, claiming they both considered the laid down procedure before appointing their separate Iyaloja General for the state.

Some select members of the Oyo State Market Leaders Joint Working Committee had written to the Alaafin of Oyo, Oba Lamidi Adeyemi, on March 14, 2021 where eight out of 12 various cluster groups comprising of Artisans, Technicians and Traders in Oyo State endorsed Princess Azeezat Folashade Abeo Nurudeen and asked the monarch to install her as Iyaloja General.

The other group said the coalition of Traders, Artisans, Market Men and Women in the state which appointed Alhaja Saratu Aduke Konibaje as Iyaloja General is the only credible body to appoint the Iyaloja General.

While government is allegedly backing one Iyaloja, the other is allegedly being backed by the Alaafin of Oyo, Oba Lamidi Adeyemi, but investigation by Daily Trust on Sunday revealed that both the government and monarch lack the power to appoint Iyaloja General for traders.

Our correspondent reports that the only involvement of government and traditional leaders in the process is that when a new market leader emerges, the coalition of Traders, Artisans, Market Men and Women will write the government that another Iyaloja or Babaloja has emerged.

The government will appoint advisory committee among the traders to serve as bridge between the two and nothing more.

Thereafter, the traders will join the newly installed Iyaloja or Babaloja to the traditional rulers in their town for a funfair party. The traditional rulers are expected to pray for the newly installed Iyaloja or Babaloja.

Our correspondent gathered that before the demise of the immediate past Iyaloja, Alhaja Wuraola Asake-Koladaisi, the coalition appointed Alhaja Saratu Aduke Konibaje as the Otun Iyaloja, with intention that when she dies, the Otun will take over from her.

A source among the traders told Daily Trust that when she died, the coalition had to appoint somebody to serve in acting capacity in order to avoid a vacuum because the Yoruba traditional doesn’t allow mourning and at the same time celebrating the installation of a new Iyaloja.

The coalition, therefore, appointed the mother of the current Speaker of the Oyo State House of Assembly, Chief Justina Ogundoyin, as acting Iyaloja for easy transition and colourful funfair of the Otun Iyaloja general.

However, while performing the coronation exercise, the Alaafin of Oyo, who allegedly installed Princess Azeezat Folashade Abeo Nurudeen as the new Iyaloja General, congratulated her on the confidence, belief and sincerity that the market leaders have in her, to have suggested and confirmed her for the exalted position after several consultations and deliberations.

Oba Lamidi Adeyemi tasked her to maintain her status quo on reasons and factors which necessitated her nomination and installation as the new Iyaloja General for Oyo State, stressing that her pure and genuine disposition to the market leaders’ association will henceforth culminate into fruitful and prosperous results.

The monarch while affirming the coronation exercise, wrote to Governor Seyi Makinde, explaining that he (Alaafin) performed the coronation on her based on the unanimous decision of the market leaders.

Explaining the process of appointing Iyaloja General in Oyo State, aide to Babaloja General of Oyo State, Mr. Debo Adeoye, said there are laid down procedures which must be followed.

Adeoye said; “Government lacks power to appoint Iyaloja or Babaloja. There is a body set up by traders called Coalition of Traders, Artisans, Market Men and Women of Oyo State. This is the only union recognised by the state government. It is the only body that takes decision on behalf of the traders. It is the only body that has the power to appoint Iyaloja.

“On April 26, this year, the coalition approved Alhaja Saramotu Aduke Konibaje and presented her to the Congress of Babalojas, Iyalojas, Leaders of Traders, Artisans, Market men and women of Oyo State for ratification. At the event were 20 members of the Oyo State House of Assembly and she was decorated by the outgoing acting Iyaloja, Justina Ogundoyin.

“With all these processes, there were no complaints or crisis. Why now,” he queried.

A chief in Ibadan land, Mogaji Wale Oladoja, advised Governor Seyi Makinde to invite the two groups and appeal to them to resolve it amicably.

Oladoja said “the governor should mediate between the two groups. It is not the fault of the Alaafin or the government. The traders approached him before the monarch took the decision. If government intervenes and they refuse, then the governor should proscribe them and appoint his own person to head the market.

“This is not acceptable. We want a peaceful Oyo State. The issues on the table for the governor is beyond all this leadership tussle in market hierarchy. Let them do the needful and save the government from unnecessary issues.”

The media aide to the Alaafin of Oyo, Mr. Bode Durojaye did not pick his call for reaction while he only replied to the text message sent to him with; “not now.”

Similarly, the Chief press secretary to the governor, Mr. Taiwo Adisa said he was not in a position to react to the issue concerning traders, asking our Correspondent to talk to the Commisioner for Trade and Investment, Mr Nìyí Adebisi.

The commissioner did not pick his calls while the text message sent to him was not replied to.

(Daily Trust)

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Soaring profits: How Nigerian banks defied COVID-19 lockdown

An analysis by Chinyere Joel-Nwokeoma, News Agency of Nigeria (NAN)

The year 2020 will remain indelible in the annals of history due to the impact of the COVID-19 pandemic on the world.

The pandemic brought the world into exceptionally difficult and largely uncharted waters.

In no time, the whole world came to a standstill with lockdowns, global recession, financial crises, reduced consumer confidence and consumption as key concerns occasioned by COVID-19.

It was, indeed, a year during which individuals, corporate organisations, economies and businesses were forced to think outside the box to ensure sustainability.

To tackle the impact of the pandemic, various governments introduced several policies; Nigeria, and its key organisations, were not left out.

Consequently, the Central Bank of Nigeria (CBN) reduced interest rates on all applicable CBN interventions, from nine to five per cent and introduced a one-year moratorium.

It also created a N50 billion targeted credit facility, and liquidity injection of N3.6 trillion (stimulus package in the form of loans) into the banking system.

Others were: N100 billion to support the health sector, two trillion naira to the manufacturing sector, N1.5 trillion to impacted industries in the real sector and regulatory forbearance to restructure loans in impacted sectors, among others.

In spite of the ravaging effects of the COVID-19 lockdowns and various policy tweaks by the CBN on the economy, most banks in Nigeria weathered the storm by posting stronger profits in 2020 compared with 2019 as shown by earnings released by the Nigerian Exchange (NGX) Ltd.

This indicates that despite the lockdown there was an increase in banking activities as loans and advances and customer deposits rose.

According to experts, this shows that Nigeria has a peculiar and distinct domestic economy unlike other economies where banks recorded a significant decline in profit in 2020.

Indeed, profits of some banks listed on the NGX showed increase in gross earnings as well as profit after tax.

Specifically, Access Bank reported gross earnings of N764.72 billion in 2020 compared with N666.75 billion in the comparative period of 2019.

The bank’s profit before tax stood at N125.92 billion in 2020, from N111.93 billion in 2019, while its profit after tax closed higher at N106.01 billion against N94.06 billion in 2019.

FBN Holdings also had a good outing during the lockdown, declaring profit before tax of N83.70 billion from N75.29 billion in 2019, while profit after tax rose to N89.75 billion against N73.67 billion in the comparative period of 2019.

The bank, however, recorded gross earnings of N579.42 billion in 2020 compared with N590.39 billion in 2019.

Further analysis of audited results released by the NGX indicated that Guaranty Trust Bank posted gross earnings of N455.23 billion in 2020 from N435.31 billion in 2019.

Its profit before tax rallied to N238.09 billion compared with N231.71 billion recorded in 2019.

Similarly, profit after tax rose to N201.44 billion against N96.85 billion reported in 2019.

An analysis of the performance of the United Bank for Africa (UBA) showed gross earnings of N620.38 billion from N559.81 billion declared in 2019.

The profit before tax of the bank grew to N131.86 billion in contrast with N111.29 billion posted in 2019.

The bank’s profit after tax in the review period closed upbeat at N113.77 billion compared with N89.09 billion in 2019.

Zenith Bank was not left of the banks that recorded jumbo profits in 2020 as it posted profit before tax of N255.86 billion against N243.29 billion declared in 2019, while its profit after tax closed higher at N230.57 billion from N208.84 billion in 2019.

The bank also recorded gross earnings of N696.45 billion in 2020 in contrast with N662.25 billion achieved in 2019.

2020 was also rosy for Union Bank of Nigeria, posting profit before tax rose of N25.4 billion from N24.7 billion in 2019, while its profit after tax closed at N24.7 billion against N24.4 billion in 2019.

However, the bank’s gross earnings slightly reduced to N156.9 billion in 2020 as against N159.9 billion in 2019.

Stanbic IBTC recorded gross earnings of N234.45 billion against N233.81 billion in 2019.

It also reported profit before tax of N94.71 billion in contrast with N90.93 billion in 2019, while profit after tax stood at N83.21 billion from N75.09 billion in the comparative period.

The question agitating the minds of Nigerians is; what magic did the banks do to churn out such fantastic profits during the lockdowns?

Mrs Nneka Onyeali-Ikpe, Managing Director, Fidelity Bank Plc, acknowledged that the 2020 financial year was challenging due to the collapse of oil prices and issues around the COVID-19 pandemic.

She said the banking industry, through resilience, surmounted the challenges by churning out profits, and that the apex bank also gave banks a leeway by insisting that all corporates were given palliatives and forbearances during the period.

“In Fidelity Bank especially, we made sure that we supported our SMEs, which is our strength, we made sure they observed the protocols, we made sure our branches observed the protocols because if customers go down, we will go down,” Onyeali-Ikpe said.

Speaking on 2021 expectations, she said “the business is looking up very well, we expect a much better 2021, and the numbers are even showing that.

“Our first quarter numbers are very strong and as you can see, we achieved 53.9 per cent above our profit before tax, quarter-on-quarter last year and this is a very strong sign and we are definite that 2021 would be much better than 2020,” she added.

Mr. UK Eke, the Group Managing Director, FBNH, said the company was pleased to close the year 2020 in a healthy financial position in spite of the difficult operating environment.

He said the company engaged a portfolio optimisation strategy, deepened its foothold in the banking sector through increased investment in digitalisation, innovation, and expansion in financial services for the benefit of existing and new customers.

“Five years ago, we outlined our strategy to diversify our income stream by boosting non-interest income through a transaction-led banking model.

“We believe this decision reduced the burden on our customers during the lockdown by providing seamless access to banking service, as well as, support the effort of the Government and other donor agencies to reach Nigerians with the COVID-19 support programmes,” Eke said.

To Mr Kennedy Uzoka, the Group Managing Director/Chief Executive Officer, UBA, the year 2020 was important for the UBA Group, as it gained further market share in most of its countries of operation.

He said: “We ended a very challenging year on a reassuring note. The Bank recorded double-digit growth in both our top and bottom lines, as gross earnings and after-tax profit grew by 10.8 per cent and 27.7 per cent to N620.4 billion and N113.8 billon respectively.”

According to him, despite the tumultuous impact of the COVID-19 pandemic globally and across the 23 countries where the bank operates,  UBA created N519.0 billion additional loans as it  continued to support  its  customers and  their businesses.

“Customer deposits grew 48.1 per cent to N5.7 trillion, driven primarily by additional N1.8 trillion in retail deposits. As a global bank, we remain well capitalised and determined to successfully drive financial inclusion on the continent through our innovative products and vast network.

“Our capital adequacy and liquidity ratios came in at 22.4 per cent and 44.3 per cent, well above the respective regulatory minimum of 15.0 per cent and 30 per cent,” Uzoka added.

Financial analysts are also not surprised that the banks defied the lockdown by posting good profits in 2020.

The Chief Operating Officer, InvestData Ltd., Mr Ambrose Omordion, said Nigerian banks and other corporates performed very well in 2020 in spite of the outbreak of coronavirus that drove the global and domestic economy into recession with oil prices hitting the lowest at 12 dollars before rebounding.

“Nigeria banks were resilient in 2020 in the midst of pandemic as their performance and profitability ratios were up irrespective of headwinds, low interest regime and others.

“The electronic or e-commerce platforms of the banks through technology supported them during the lockdown and after, government and CBN interventions in critical sectors of the economy helped the banks to stay afloat and remain in profit,” Omordion said.

Omordion’s views align with those of Mr Moses Igbrude, former Publicity Secretary, Independent Shareholders Association of Nigeria, who attributed the performance of banks to enhanced technology due to the COVID-19 pandemic.

“The banking sector of the capital market is a sector that gladdened the hearts of shareholders so far in this year, despite the challenges of the COVID-19 pandemic.

“All banks came out strong and better rewarding shareholders with good dividends and the performance was as a result of technology deployment during and after lockdown,” Igbrude said.

He urged banks to sustain the trend through efficient management of resources, innovation, loans management, cost management and adherence to regulatory rules and regulations.

With the fantastic profits posted by many Nigerian banks in 2020, there is no doubt that better days are ahead, and experts agree that, even in 2021, and post COVID-19 era, the profits will soar higher.

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Reps give Immigration Service 72 hours to issue international passports to owners

House of Representatives has asked the Nigeria Immigration Service to, within 72 hours, issue International Passports to thousands of Nigerians who have applied, paid, captured but were yet to be given their booklets.

The House also urged the Federal Ministry of Interior and the Nigeria Immigration Service to review its Memorandum of Understanding (MOU) with the Nigerian Security Printing and Minting Company Plc and IRIS Smart Technologies Ltd.

The parliament said the review will boost the capacity and development of more passport booklet production lines and ensure better service delivery within 24 hours.

The ultimatum followed the consideration of a motion titled “Call for an End to the Scarcity of International Passport Booklets at Immigration Offices”, moved by Hon. Ugonna Ozurigbo at the plenary.

In his motion, Ozurigbo noted the Federal Ministry of Interior, through the Nigeria Immigration Service, was responsible for the issue and re-issue of Nigerian International Passport to citizens and liaises with the Nigerian Security Printing and Minting Company Plc and IRIS Smart Technologies Ltd for the production of passport booklets and allied services.

He said that there has been a persistent scarcity of the passport booklets at most Nigeria Immigration Service offices and some of the nation’s foreign embassies.

According to him “Most Nigerians who have applied for International Passports and fulfilled all the requirements are constrained to wait endlessly for their International Passports, which ordinarily takes less than 48 hours to be issued, a situation that is causing untold hardship on Nigerians with urgent needs to travel out of the country.

“Nigerians who are on medical referrals outside the country are developing needless health complications while waiting for their Passports to be issued while those for urgent business trips, conferences, etc. have missed rewarding business opportunities due to the unavailability of passport booklets to enable them to travel.

“Nigerians in the diaspora are experiencing undue delays due to the scarcity and the situation is fast breeding a class of Passport racketeers who extort innocent citizens with the promise to assist them to secure International Passports on time”.

Ozurigbo said that access to International Passport is one of the rights enjoyed by citizens all over the world, adding that “in other countries, International Passports were obtained with ease as they were issued immediately upon application.”

The lawmaker said that Nigerians should not be made to suffer before their rights were granted. Adopting the motion after securing a favourable voice vote, the House mandated its Committees on Interior and Foreign Affairs to ensure compliance and report back within 4 weeks for further legislative action. (Vanguard)

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