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World Bank Forecasts Sharp Fall In Remittances To Nigeria, Others

The World Bank said remittances would decline sharply by about 23.1 percent to sub-Nigeria and other Saharan African nations this year, due to the economic crisis induced by the Covid-19 pandemic and shutdown.
Globally, a reduction of 20 per cent has been projected by the bank.
The projected fall, which would be the sharpest decline in recent history, is largely due to a fall in the wages and employment of migrant workers.
The migrants tend to be more vulnerable to loss of employment and wages during an economic crisis in a host country.
Remittances to low and middle-income countries (LMICs) are projected to fall by 19.7 per cent to $445billion, representing a loss of a crucial financing lifeline for many vulnerable households.
Remittance flows are expected to fall across all World Bank Group regions, most notably in Europe and Central Asia (27.5 per cent).
The Sub-Saharan Africa would follow with 23.1 per cent.
Remittances to the region totalled $48billion in 2018 and $57billion, last year.
South Asia would have a cut of 22.1 per cent, the Middle East and North Africa 19.6 per cent, Latin America and the Caribbean 19.3 per cent, and East Asia and the Pacific 13 per cent.
The large decline in remittances flows in 2020 comes after remittances to LMICs reached a record $554billion in 2019.
Even with the decline, remittance flows are expected to become even more important as a source of external financing for LMICs as the fall in foreign direct investment is expected to be larger (more than 35 per cent).
In 2019, remittance flows to LMICs became larger than FDI, an important milestone for monitoring resource flows to developing countries.
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Enugu Gov. Inaugurates 100 CNG Buses, Says Transport System‘ll Create 20,000 Jobs

Gov. Peter Mbah of Enugu State, yesterday rolled out 100 Compressed Natural Gas (CNG) buses saying that the new transport system will create no fewer than 20,000 jobs and boost the economy of the state and country.
Mbah revealed this in Enugu, yesterday while inaugurating the New Enugu Transport Management System, five modern bus terminals at Holy Ghost, Gariki, Abakpa and Nsukka as well as the CNG buses.
He said that the projects inaugurated would spur the Gross Domestic Products (GDP) of Enugu State and the country to grow to $30 billion and $1 trillion respectively within the next six years.
According to him, the projects delivered are part of the promise we made to the people to ensure world class infrastructure, which will not only uplift the economy but dignify their living standard.
The governor said that the projects would provide the people with cheaper, accessible and seamless movement as other infrastructure meant to support the projects and the new system are already in place.
“I must commend President Bola Tinubu, whose vision and wisdom to remove fuel subsidy, have led to all the projects and change to a new transport system that is based on 21st century infrastructure and service for our people.
“I will also appreciate the state’s commissioner for transport for all efforts to make these projects a reality as well as the contractors and other people that ensured their timely delivery.
“It is a reality that transport remains the central pillar of modernisation and measure of the people’s progress; thus, touching every aspect of human life and the way the people think as well,” he said.
He noted that the state would roll out 2,000 hybrid vehicles to support the air conditioned and People with Disability friendly CNG buses.
The governor said that the CNG buses would shuttle routes leading to schools and higher institutions.
“The CNG will ensure over 40 per cent reduction in household expenses on transport and will also convey residents along markets and major places along the schools/institutions routes.
“We are remodeling all bus stops within Enugu metropolis, built and rebuilt most roads within the metropolis and other major cities in the state.
“We also placed a modern transport e-ticketing process that checks leakages and manipulations.
“Few weeks ago, we launched Enugu Air; plans have reached an advanced stage on putting rail services and waterways transport while all these projects have safety and dignity of our people as their priority,” he said.
Earlier, the Commissioner for Transport, Dr Obi Ozor, said that the terminals inaugurated would entertain over 10 million commuters each year; while providing a place of comfort after long journeys or interval break from long journeys.
Ozor explained that each of the terminals have a fully air conditioned hall and television screens, eateries, lodging accommodation, fuel station, sunscreen covered walkways, solar powered security lights/systems and surveillance cameras.
“These projects are a clear vision of His Excellency, Dr Peter Mbah, to make Enugu State a model and point of reference in any modern infrastructure. We thank your excellency for insisting on quality and taste,” he said.
In a welcome address, the Chairman of Enugu North Council Area, Dr Ibenaku Onoh, thanked the governor for bringing order, aesthetics, employment and one-stop transport comfort with two terminals built in the Holy Ghost axis of Enugu.
“We quite appreciate all developmental efforts, which included: terminals, smart schools, smart type-2 primary healthcare centres, surveillance cameras and provision of security among others,” Onoh said.
News
Israel Threatens West Bank Annexation Over UN Palestine Move

Israel’s far-right Finance Minister, Bezalel Smotrich, warned, yesterday that Israel would annex the occupied West Bank if the international community formally recognises a Palestinian state at next month’s United Nations General Assembly (UNGA).
“You have no chance, there will be no Palestinian state,” Smotrich declared at a news conference, addressing countries planning to support Palestinian statehood at the UN.
“You will not decide from overseas what the future of the Jewish people looks like,” said Smotrich, who is known for advocating the expansion of Israeli settlements in the West Bank—settlements deemed illegal under international law.
Speaking near the Israeli settlement of Ma’ale Adumim, east of Jerusalem, he added: “If you recognise a Palestinian state in September, our response will be to assert full Israeli sovereignty over all areas of Judea and Samaria.
“Judea and Samaria” is the term used by Israel to refer to the West Bank, which it has occupied since 1967.”
Several countries, including France, Canada, and Australia, have signaled their intention to recognise a Palestinian state at the UNGA in response to Israel’s military campaign in Gaza.
They argued such recognition could help advance the long-sought two-state solution, envisioning a peaceful coexistence between Israel and a future Palestinian state.
However, both the current Israeli government and Hamas, the Palestinian militant group, have consistently rejected that vision.
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NCos Frees 28,149 Inmates After Payment Of Fines, Compensation In 2024

The Nigerian Correctional Service (NCoS) says 28,149 inmates were released nationwide in 2024 after the payment of fines and compensations.
Deputy Controller General, NCoS, Mr Ibrahim Idris, disclosed this during the third public hearing of the Independent Investigative Panel on Alleged Corruption and other Violations against the service in Abuja, yesterday.
Idris said; “last year, 28,149 inmates were released as a result of payment of fines and compensations.
“I also want to urge the panel and the public that payment of fine and compensation is a very charitable thing to do,”
Idris, however, praised the role of charitable interventions in decongesting correctional facilities, adding that it had helped the Federal Government a lot.
“But when an individual wants to do it, he should follow the example of the Honourable Minister, Dr Olubunmi Tunji-Ojo.
“This is when inmates were chosen, and the compensation, the fine were paid, and the inmates were even given repatriation money, “he added.
Idris maintained that the fewer the inmates in custody, the better the opportunity for proper rehabilitation.
This, he said was because even before the 2019 Act, the philosophy of NCoS had always been imprisonment as a punishment, and not for punishment.
“While it is pronounced, it is already punishment, whether the person comes to the correctional centre or not, it is already taken care of, “he said.
Also speaking, Assistant Controller General (ACG), Cyrus Lekatile, addressed the legal limitations on custodial centres in holding inmates without proper documentation, especially regarding compensation.
According to him, practically, the NCoS does not have the power to keep in custody any individual who doesn’t have a valid document for remand.
“And so, when an individual, who is sentenced with option of fine and compensation, that is, if the individual is unable to pay fine, it means naturally that he or she will serve the sentence,” he explained.
Lekatile outlined the procedures followed at the expiration of an inmate’s sentence where compensation remained unpaid.
“One, sometimes the warrants will come with compensation, and where the individual is unable to pay compensation before the end of the jail term, that compensation is converted into a jail term on the warrants.
“And then, where that particular order is not given on the warrants, the officers report this matter before the court that has actually convicted this individual.
“The judge or the magistrate will either convert the compensation to a jail term or order the release of this particular individual,”he said.
Lekatile highlighted an ongoing legislative amendment to the Nigerian Correctional Service Act, 2019, that would introduce a Victim Compensation Fund, backed by federal allocations.
“The amendment, if adopted by the legislative arm of the government, seeks creation of a victim compensation trust fund to be funded from the federal allocation.
“What matters is that the compensation to the victim will be paid from this trust fund without having anything to do with the inmates now who is unable to pay,” he said.
The NCoS ACG, however, added that inmates would still be required to perform tasks to support the fund.
“The inmates will perform some other duties that will probably generate some money, no matter how little.
“And then the money generated goes into the victim’s trust fund,” he emphasised.
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