Software giant, Microsoft, has reported a breach on its system by Russian government-backed hackers known as Midnight Blizzard, with a warning that all organizations now face risks from well-resourced nation-state threat actors.   

The company disclosed this in a filing with the U.S. Securities and Exchange Commission on Friday.

Microsoft disclosed that the hackers gained access to some of its corporate email accounts, including members of its senior leadership team and employees in its cybersecurity, legal, and other functions. It said the attackers were able to exfiltrate some emails and attached documents from its system.  

According to Microsoft, the hackers who gained access to its system from late November 2023 until they were discovered on January 12, 2024, were targeting information relating to them on Microsoft’s system.  

The filling 

Providing the details of the attack in the SEC filing, Microsoft said: 

• “The Microsoft security team detected a nation-state attack on our corporate systems on January 12, 2024, and immediately activated our response process to investigate, disrupt malicious activity, mitigate the attack, and deny the threat actor further access.  
• Microsoft has identified the threat actor as Midnight Blizzard, the Russian state-sponsored actor also known as Nobelium. As part of our ongoing commitment to responsible transparency as recently affirmed in our Secure Future Initiative (SFI), we are sharing this update.   
• “Beginning in late November 2023, the threat actor used a password spray attack to compromise a legacy non-production test tenant account and gain a foothold, and then used the account’s permissions to access a very small percentage of Microsoft corporate email accounts, including members of our senior leadership team and employees in our cybersecurity, legal, and other functions, and exfiltrated some emails and attached documents.  

Microsoft added that its investigation indicates the attackers were initially targeting email accounts for information related to Midnight Blizzard itself.

The company said it was in the process of notifying employees whose email was accessed. 

Customers not affected 

The company, however, noted that the attack was not the result of a vulnerability in its products or services as customers were not affected. According to Microsoft, to date, there is no evidence that the threat actor had any access to customer environments, production systems, source code, or AI systems. Microsoft said it would notify its customers if any action is required.   

• “This attack does highlight the continued risk posed to all organizations from well-resourced nation-state threat actors like Midnight Blizzard. 
• “As we said late last year when we announced Secure Future Initiative (SFI), given the reality of threat actors that are resourced and funded by nation states, we are shifting the balance we need to strike between security and business risk – the traditional sort of calculus is simply no longer sufficient.  
• “For Microsoft, this incident has highlighted the urgent need to move even faster. We will act immediately to apply our current security standards to Microsoft-owned legacy systems and internal business processes, even when these changes might disrupt existing business processes,” the company stated.   

Microsoft said this would likely cause some level of disruption while it adapts to this new reality, but it is a necessary step, and only the first of several we would be taking to embrace this philosophy.   

 [Nairametrics]

Born in the Netherlands and educated in England, Super Eagles captain William Troost-Ekong has not looked back at the international level since opting to represent Nigeria.

Part of the team that lost to Lionel Messi and Argentina at the 2018 World Cup, Troost-Ekong is currently taking part in his third Africa Cup of Nations and he kept a remarkably cool head to score the decisive penalty in the 1-0 win over hosts Ivory Coast on Thursday.

That result left the three-time continental champions primed to clinch a spot in the last 16 when they play Guinea-Bissau in their last group game in Abidjan on Monday.

“It is so early still, but my belief in the team has stayed the same,” the 30-year-old centre-back, who won his first cap in 2015, told AFP.

“If I look at the players we have now, I think it might be the best team I have played in for Nigeria. That is with all due respect to some of the legends that have been there.”

Amid all the talk of Nigeria’s fearsome attack, spearheaded by African footballer of the year Victor Osimhen, it was Nigeria’s defence that perhaps surprisingly stood out against the Ivorians, with Troost-Ekong marshalling a five-man backline.

“I think we have the most exciting attack in Africa. We have the best player in Africa who is our number nine. But I was not surprised, I think I know what the defenders can do as well and I believe so much in this group,” he said.

“I think we have maybe been underrated a little bit defensively.”

Troost-Ekong, who is wearing boots at the AFCON made from bamboo and other sustainable materials, was born just outside Amsterdam to a Nigerian father and Dutch mother, and was capped at youth level by the Netherlands.

‘Haven’t looked back’
He admits he dreamed of representing the Oranje senior team before a call from Stephen Keshi, then the Super Eagles coach, convinced him to pull on a Nigerian shirt.

“I watched a lot of football with my Dad. He was always watching the Super Eagles, but growing up in Holland, I also dreamt about playing for the Dutch national team,” said the defender, who moved to the UK aged 12 to attend boarding school.

“But when I got the phone call from Stephen Keshi at the time, who was a player and a legend who I watched growing up as a kid, especially as a central defender, I was kind of taken aback, and for him to ask me to play for Nigeria, I didn’t have to think twice.

“I think I said yes before I even had to think about anything or ask anyone because it just felt right, and I haven’t looked back since.

“Something really feels right about playing for Nigeria.”

Troost-Ekong, who has family in the southern city of Uyo as well as in Lagos, spent several months on holiday in Nigeria every year while growing up and says the country “felt very much like home and still does”.

He has turned out for clubs all over Europe, notably playing in Serie A for Udinese and in the English Premier League for Watford.

However, he recently joined leading Greek side PAOK – and opted to offset the carbon from the travel required to complete his transfer in another nod to the environment.

As he settles in Thessaloniki, he is now hoping this year to add some winners medals to the Olympic bronze he won with Nigeria in 2016.

“I have played in Serie A and in England, which are considered probably the top leagues, but for teams that are trying to stay in the league or to survive,” said the player who is so heavily tattooed he claims to have lost count of how many he has.

“Now playing at PAOK it is different because the ambition there is to win the league, win the cup, and win the Europa Conference League.

“I am really enjoying it and I am hopeful that I can add some silverware to my career, here as well as back home.”

[NaijaTimes]

The Police Force Public Relations Officer, Olumuyiwa Adejobi, has urged Nigerians to report anyone seen with live ammunition to curb arms proliferation in Nigeria.

This was contained in a statement shared on Sunday on his official X account.

Sharing a picture of live ammunition, Adejobi said, “These are live ammunition, called “èpà” or “groundnuts” in the street.

“They are deadly, not to be seen with anyone except security agents. Statutory security agents, no other ones.

“If you see them with any friend or civilian, please expose him or her. We need to collectively curb the proliferation of arms and ammunition in Nigeria.”

Recall that the Lagos State Commissioner of Police, CP Adegoke Fayoade on Thursday paraded 34 suspects of crimes including armed robbery, stealing, cultism and unlawful possession of firearms one month into office.

In what Fayoade called a mark of his achievements since taking office, the police commissioner listed no fewer than 14 cases cracked and a recovery of a total of 16 firearms including a toy pistol, 72 live cartridges, 75 live ammunition, one expended cartridge and one pistol magazine.

The police also recovered six axes, four daggers, one digger, five cutlasses, two vehicles, one POS Machine, fake registration plates and various charms.

[Punch]

Former Minister of Transportation Rotimi Chibuike Amaechi has urged Nigerian youths seeking relocation from the country to consider opportunities they have in Nigeria and stay back.

In an interview with Arise TV, the former Rivers State Governor claimed that there are juicy opportunities back in Nigeria that those seeking greener pastures in other countries may not have.

According to him, there are possibilities of someone to suddenly emerge as a leader in the country.

He said, “I’ve always discouraged the people who want to leave the country. I say, if you want a 9 to 5, yes you can always get that when you leave the country, but you can never get the opportunity we have in Nigeria.

“You can just wake up one day, you become a minister and you can just wake up one day and you become a governor. It just happens. So, if you are looking for opportunities, please stay back in Nigeria but if you are looking for a 9 to 5, then you can go.”

The former presidential aspirant also blamed the country’s economy for the ravaging crimes in Nigeria.

According to him, the Nigerian economy is too small and cannot accommodate everybody, leading to robbery and other crimes.

“If all of us start working in Shell now, there would be no time to go and rob or kill because you leave at 6am and by the time you come back at 6pm, you will be tired, so, my advice to them is to get your degree if you can and if you can’t, well, I am lucky”, he added.

[DailyPost]

Big calamities seldom knock before opening the door. Calamities’ sneaky essence is articulated in one song by grand old Odolaye Aremu, Ilorin, Kwara State-born Dadakuada song minstrel. While philosophizing the concept of calamity, which Yoruba call “eemo”, Odolaye sang that surprise and swiftness are primary features of calamities, holding tight to them like leaches. So he sang, “Peki laa k’eemo,” (calamity is met suddenly). The singer points at horses used in races and in ancient wars meeting their own end unprepared during races. It is the same with soldiers who mount horses and ride them to death. Odolaye sang that, as sudden death pounces upon warhorses, so also do buffalos meet their end in the treacherous thickets of the savannah.

Last week, though not racing on horses nor does it have anything in similarity with buffalos, calamity swiftly walked into the capital of Oyo State and like Odolaye aptly dissected it, it was sudden. It came with its handmaidens – weeping, wailing and gnashing of teeth. Residents of Bodija, Ibadan suddenly heard a late evening loud bang which reverberated round many parts of the ancient city. By the time the bang settled, lives had been lost, property destroyed and Ibadan suddenly became an epicentre of bad New Year news. Buildings were reduced to rubbles, vehicles destroyed and yet-to-be ascertained number of people killed by the explosion. Preliminary investigation found out that this calamity was the handiwork of some Malian miners who lived there. They had allegedly brought in high-level dynamite into a human neighbourhood. As at the time of writing this, official sources put the number of dead at five while excavation of bodies was still being done. One of the dead was said to be a United Kingdom returnee who met his untimely death while visiting. Mining activities have become harbingers of “eemo”in Nigeria’s lucrative mining fields, Zamfara State being an earlier example. In this state, foreigners perch on gold sites like bees on nectar with its attendant incubation of banditry.

Still on the sneaky bang of calamities, Abuja, the Federal Capital Territory, also witnessed an implosion in the number of kidnapped persons. From January 2021 to June 30, 2023, 40 kidnap cases were said to have been recorded in the FCT, with heart-wrenching 236 victims. The modus operandi of the kidnappers has today witnessed a mutation. Before now, waylaying commuters on the highway and ferrying them into the bush to demand ransom was the style. Today, under President Bola Tinubu, kidnappers have gone haywire. They are daring and disrespectful of Abuja as Nigeria’s seat of government. So, kidnappers boldly walk into people’s homes to cart away their victims without batting an eyelid. Nigeria is under the siege of bandits who have terrorized the country non-stop, castrating government’s expected proactive interventions and reducing successive governments to, in the words of Yakubu Dogara, mourners-in-chief. On the Abuja–Kaduna highway last week, about 30 people were said to have been abducted at Dogon-Fili near Katari, along the Kaduna-Abuja highway in Kachia Local Government Area of Kaduna State. Eleven other persons were kidnapped in the Dutse-Alhaji area of the FCT, Abuja. Those who dispensed “eemo”to these fellow Nigerians and their families were gunmen dressed in the camouflage of military men, while the kidnappers dressed like herders.

The most pathetic and tear-jerking narration from the Dutse-Alhaji kidnap came from Oladosu Ariyo, lawyer and father of a slain 13-year-old. In an SOS that brimmed with frustration, pain and sorrow, Ariyo wrote to the Nigerian Bar Association to narrate the calamity that suddenly walked into his dwelling place. He narrated how the band of kidnappers invaded Sagwari Layout Estate in Dutse, kidnapped his lawyer wife and four children. They promptly demanded N60 million ransom. Being able to pay only a small percentage of the ransom, the kidnappers killed his first born and dumped the corpse on Kaduna Road. They have threatened to kill the three other minor children and his wife if the whole ransom was not paid. They were said to have so far killed three of the eleven residents of the Sagwari Estate Layout in the Dutsen-Alhaji area they abducted.

The most immediate issue that the kidnaps evoke, bringing to the fore, is the disconcerting reality that kidnappings have gone outside the grips of the Nigerian government. Often orchestrated by persons who don military uniforms and inflict havocs recklessly for hours on citizens, this calamity has persisted since the Muhammadu Buhari government. It was often followed by official denials especially during the Buhari era. That government was in a seeming legitimization of the infliction of violence and death on the people. States that border and surround the FCT like Niger, Kogi, Nasarawa and Plateau states had been hotbeds of kidnaps and wanton killings since the Buhari government. In saner climes and environments, this proximity is enough indication and foretell of imminent preying on the FCT by the bloodthirsty hounds called kidnappers and bandits. For a proactive and sensitive national security apparatus, mechanism to arrest the imminent descent on Abuja ought to be on the drawing board, even before they struck. Unfortunately, in Abuja, unlike many civilized cities of the world, there are no statistics of ingress and egress into and outside the national capital. In the same vein, the census of landlords who live in the various suburbs of the city remains an illusion.

The issue of absence of governance is apparently the cause of the spike in insecurity in Abuja and other parts of Nigeria. If you bore a hole through it, you will find corruption as well. There is also no doubting the fact that national security inertia juts out as core issue in the Ibadan blast. Why would such destructive dynamites pass through the cordon of security agencies to wreak such havocs? Apart from those issues, existential matters are also trapped in the spate of kidnappings in Abuja and the blast in Ibadan. The existential issues come in rhetorical questions. Why must it be Oladosu Ariyo and his family who must be abducted that night at Dutsen-Alhaji and not other families? Why was the UK returnee who met his untimely death in the Ibadan blast the one who must die? Why didn’t he delay his journey by some days, to arrive Ibadan after the blast? Why did that calamity zero in on those who died? Why was Bodija the scene where the dynamites must explode and not elsewhere? These are questions that have defied satisfactory answers to humanity, science and religion. They have been asked consistently since the beginning of creation.

The above questions have procreated a set of people called fatalists who believe that human beings are helpless about the future, as well as the fortune or calamities that come to them. In Yoruba epistemology, this fatality is expressed as “ayanmo” or predestination. Its similar variants are “Kadara,” which is strictly identical with destiny. Kadara is woven round the concept of ‘Ori’ or the bearer of one’s destiny. The third of the tripod is called “Akosile” which holds that every individual’s destiny, as well as all that will happen to them in their life journey, are already written down in heaven before human beings begin to journey down to earth. An affirmation of this is mirrored in the saying “Ori yeye ni Mogun, ipin aise lo po,” literally translated to mean, among the dry skulls at the Mogun shrine are many innocent heads.

The “Ori yeye…”narration, best explained by an anecdote said to have taken place a long time ago, apparently in pre-colonial Yoruba, has a few other slants different from the one below. The king of a town called Otolu had his trumpet called Kakaki stolen by persons or person he couldn’t fathom. The trumpet was a monarchical insignia used during ancestral festivals and was blown to announce the imminence of the festival. Upon the disappearance of the trumpet, Oba Otolu summoned his seventeen servants for explanation on the missing ancestral trumpet. Each swore his innocence but, miffed, literally spitting fire from his mouth like Sango, the king ordered the servants to be beheaded by the Ogun shrine. A few months after their decapitation, an Oba Otolu king friend in the neighbouring town apprehended two of his aides who were in possession of the trumpet and sent them to the Otolu king. Upon interrogation, they confessed that the heir to the Otolu throne, the king’s son, had handed it over to them. The king then ordered the beheading of the prince and the two culprits. As they were about to be decapitated at the Ogun shrine, pensive, the Otolu king muttered, pained about the shedding of innocent people’s blood thus, “See the number of heads of innocent persons we wrongly beheaded at the Mogun shrine!” The king was said to have committed suicide upon arriving the palace.

So, were those seventeen palace servants fated to be beheaded by the Orolu king? Was it their “ayanmo” (destiny)to die such gory, painful deaths? The Yoruba concept of the human person believes every human being has an ayanmo which can be positively or negatively manipulated by the nature of the head (Ori) which the person brought into this world. Thus, if an ayanmo is lopsided, resulting in failure of efforts, the Ori can help restructure the person’s destiny. This is why they say destiny has no remedy but Ori is the judge, “ayanmo o gb’ogun, ori l’elejo.”

Destiny, as articulated by Professor Segun Gbadegesin in his “Eniyan: The Yoruba Concept of a Person” in The African Philosopher Reader,edited by P.H Coetzee and A. P Roux., Routledge (New York, 1998) P.144, is “pre-ordained portion of life wound and sealed up on Ori.” According to him, “Human beings have an allotment of… destiny which determines the general course of life.” Bolaji Idowu, however sees the Ori as a complete human personality who came before Olodumare (God) shortly before departing for this world. The human knelt down before Him for allotment of his own destiny and was open to what is called “trimorphous conception of destiny.” This is in three and they are, Akunleyan (destiny got when kneeling down to choose); Akunlegba (destiny got when kneeling down to receive) and Ayanmo (irrevocably stamped on the person).

Some of these beliefs, made into proverbs, aphorisms, mores and lore are predicated on predestination. For instance, an ancient wise-saying say that a tree will not fall in the forest and kill one who sits at home; and the rafter will not fall and kill the wayfarer (igi o ni da, k’o pa’ra ile; aja o ni jin k’o pa ero ona). Almost in line with this epistemology are the teachings of the two dominant religions, Christianity and Islam. They also believe that human beings are destined for some of the fates that befall them. However, as architects of their fates, human beings can tinker with their destinies through the worship of God. The third leg of this belief system is a doctrine called fatalism. Held by fatalists, they believe, without recourse to theology, that human beings are powerless to tinker with their future. They also hold that anything that happens to human beings is not within their human remit to change.

Many people have tried to examine why African leaders seem to cavalierly allow calamities befall their people rather than taking proactive measures to ensure that they do not occur. I tend to think that this thinking by governments is an outcome of a very injurious but longstanding romance with theological submissions about calamities, as well as traditional Africa’s explanation of predestination. Data have proven that the more religiously or traditionally inclined government runners are, the sloppy it becomes for them to do the needful in safeguarding the lives of their people. The Buhari government, for instance, was too steeped in this belief in God-ordained nature of human calamities that it firmed out the most important of its governmental responsibilities to God. Most times, it called on God to help it attack its attackers which is downright senseless.

Many events that happen in this modern age perforate some of the traditional African theses we have held for centuries. The Ibadan dynamite blast of last Tuesday is one. Contrary to a saying cited above, trees are now falling in the forest and killing people who sit in their homes; and rafters are falling, killing wayfarers in the process. The Ibadan blast attests to these. If the Tinubu government will not follow the footsteps of Buhari’s and thus be less fatalistic in its security architecture master-plan, it should not be rocket science to exterminate kidnappers and be victorious over the menace of kidnapping. It is penny-wise pound-foolish removing subsidy on petrol, with its attendant hardships on the people, then extending national pain by yawning while insecurity takes over national capital. The truth is, if the FCT could be this unsafe, with information of its porosity to evildoers available all over the world, no investor will come to Nigeria.

Tinubu must urgently reduce the frequency of calamities in Nigeria by tackling insecurity frontally. By doing this, he will be redrawing the map of the sneakiness of calamities in Nigeria. Above all, he will render Odolaye Aremu’s thesis on calamity (eemo) and its suddenness (peki) irrelevant.

I will start my essay by extensively copying extracts from a public lecture that was given by Prof Sola Adeyeye…

Alas, the average Nigerian mind has been buffeted and drowned by gales of superstition and supernaturalism.

In my second year at Ilesa Grammar School, I was smitten by love for a girl who was at St. Margaret School, Ilesa. I felt that I had little chance of winning her hand in love. It occurred to me that I could become most popular if I could win the 100 yards race for junior students. I knew that St. Margaret girls would come as guests at our annual Inter-House Sports Competition. So, I went with a friend to a babalawo in town. He made lacerations in my ankles and gave me *Ọfẹ* which he promised would propel me to supernatural speed as I pronounced incantations during the race thus: _Ọfẹ, gbé mi, Ọfẹ, gbé mi_ meaning __Ọfẹ_, lift me!

Unfortunately, my ankles got infected and septic; I suffered severe pain. Worst of all, as the the gong sounded and others ran, I was still stooping and reciting incantations- _Ọfẹ, gbé mi, Ọfẹ, gbé mi_

Stupid _Ọfẹ_ refused to lift me! Other students had run almost 50 yards before I finally began to run! The whole field bursted into guffaws. It was (and must still be) the worst record in the 100 yards sprint in the history of Ilesa Grammar School!

I was a member of the House of Representatives When Bellview Airline crashed in October 2005. At the conclusion of the usual debate, the Chamber resolved to pray for the souls of those who had died. I jumped on my feet and raised a point of order. Only Uche Onyeagocha backed me. We insisted that we should let prayers be offered in our churches and mosques while we legislators focused on doing proper oversight to ensure that our aircrafts were well maintained and our pilots well trained. We asserted that after all our prayers, another plane would crash within six months because of a poorly maintained fleet. The chamber erupted into spontaneous denunciation and protestations. “No plane would crash again in Jesus name!” “You are prophets of doom; we bind and reject your prophecy in Jesus name!”

Alas, about two months later, Sosoliso aircraft crashed in Port Harcourt killing a famous lady preacher (Bimbo Odukoya) and students from the Loyola Jesuit College, Abuja. When the plane crashed, there was not one drop of water in the tankers and trucks packed at the Airport Fire Station! Ironically, this was in Port Harcourt, a city at sea level and the capital of a State named RIVERS!

We, Nigerians, are a superstitious lot. It does not matter too much what religion we profess, or the level of education that we have acquired; superstitions run through our blood. This is the reason that when things are clearly not well, when they get as bad as possible, when we should get angry and be emboldened to take corrective steps, we calmly retort by saying “it is well!”

This proclamation, ostensibly an exercise of faith in the ultimate triumph of omnipotent God, insidiously yields a docility of temperament and cadaverous unconcern!

The favorite houseboy, or perhaps errand girl of a religious Nigerian, is the very God he/she claims to worship! That is why once we knowingly say “it is well” in the face of staggering evidence to the contrary, we also affirm that “God will do it!” All these emanate from the supreme confidence that we often express that “God loves Nigeria!” The way we say it, you would think that God hates either Cameroon or Ghana!

The truth, of course, is that nations, just like individuals, sleep on whatever bed they have laid. The pervasive dysfunction and decay in our national institutions are the creations of Nigerians, not God. We can pray for as long as we wish in our churches and mosques. We can tarry in our endless camps and so-called vigils. None of these alters the immutable truth that whatever a nation sows, the same it shall reap.

The Lagos-Ibadan Expressway probably hosts the highest concentration of sectarian zealots in the world. It also had the distinction of being the only Federal expressway in the world where trucks were parked anywhere that suited the insanity of their drivers. God sees it all. He probably smiles at it all!

Meanwhile, we keep praying even as we suffer and smile as Fela Anikulapo-Kuti once sang. We forget that the righteousness which exalts a nation (Proverbs 14: 34) has little to do with the endless religious jamborees and superstitious abracadabra on the Lagos-Ibadan Expressway.

Most Japanese neither worship Jesus Christ as the Son of God nor accept Mohammed as His Prophet. Because of its endless Buddhist temples, Japan might be classified by Nigerians as a nation of infidels! Furthermore, the natural resources of Nigeria by far exceed those of Japan. Yet, see what the Japanese have made of their country.

What do we see when we look at the world? Western Europe, the USA, Canada, Australia and countries predominated by Christians are doing well. Saudi Arabia, Indonesia, Malaysia, Pakistan, Kuwait, the UAE all of which have Muslims as majority are doing well. Israel, the only country in the world whose majority subscribe to Judaism, is doing well. Japan is doing well with its Shinto and Buddhism. Needless to say, China and Russia, both of which are predominated by atheists, are doing well. This variegated array of countries that are doing well show that progress and well-being of nations are not exclusively fostered by just one theology!  Every religion has its own superstitions. Only societies that move past these superstitions make progress. 

Now I will end in this manner, before you do anything, whether we agree or we choose to debate, think!

One day a shepherd offended a man. This man harbored a grudge against him and decided to take revenge on him. He chose a day and, late at night, began to dig a hole for his offender.

When he was digging this hole, he imagined how his offender would fall into it and break something, for example an arm or a leg, and maybe even die in it, without having a chance to get out of there. Or, in extreme cases, his sheep, ram, cow, or at worst, a goat will fall into the hole. He dug long and persistently, dreaming of revenge, and did not even notice how the hole was getting deeper and deeper.

Dawn came imperceptibly, and he woke up from his thoughts. Imagine his surprise when he saw that during this time he had dug such a deep hole that he himself was no longer able to get out of it!

Hence the conclusion: before you dig a hole for someone else, even if only in your thoughts, remember that in order to dig it, you yourself will have to be in it, since the first one in it is the one who digs it.

Whether it is the bandits, terrorists ravaging in the Abuja FCT, Kaduna, Sokoto, Plateau states, or the bench and bar in miscarriage of justice, politicians eroding our fragile confidence in governance, or the intentional ethnic and religious state sponsored parapotic policies or the deliberate state abetted murder of our educational institutions, and first-degree murder of our health facilities. We are digging holes everywhere, so, whether we agree or not, the truth is that Nigeria, and Nigerians need to do more to find the right direction or else, we are disintegrating internally—May Nigeria win!

One Nnamdi Agu has been arrested for purportedly fabricating his own abduction to deceive his relatives.

In a statement released on Saturday evening, the Federal Capital Territory (FCT) Command Police Public Relations Officer, SP Josephine Adeh, refuted claims suggesting the occurrence of a kidnapping incident at the River Park Estate, Lugbe.

According to her, no individual was abducted within the estate, firmly asserting that Nnamdi orchestrated his own kidnapping as a means to defraud his brother, who happens to be a resident of the aforementioned estate.

The statement reads, “The FCT Police Command is aware of the news making rounds about an alleged kidnapping incident at River Park estate on Saturday and wishes to state that contrary to reports, nobody was kidnapped in River Park Estate.

“One Nnamdi Agu ‘m’ of Games Village only faked his own kidnap in an attempt to defraud his brother who lives within the said Estate.

“The suspect is currently in police custody undergoing interrogation.

“While an investigation is still ongoing, further development would be communicated to the public.”

The manager of the Senegalese national team, Aliou Cisse, was reportedly admitted to a hospital in Ivory Coast last Friday.

Reports obtained by Naija News revealed that Cisse fell ill following Senegal’s 3-1 victory over Cameroon in the second group match of the ongoing Africa Cup of Nations (AFCON).

The 47-year-old coach was taken to Yamoussoukro hospital, as reported by Canal+ Sport.

The Senegalese Football Federation (FSF) released a statement stating that Cisse received treatment for a “benign infection.”

However, no specific information regarding the nature of the former Portsmouth FC defender’s medical condition was provided in the statement.

The statement reads: “The Senegalese Football Federation (FSF) informs the public that coach Aliou Cisse was taken care of by the medical staff and care services of the Yamoussoukro hospital for a benign infectious pathology on Friday, January 19, 2024 in the evening after the Senegal-Cameroun match.”

At the time of this report, Cisse, who had undergone overnight tests, had been discharged from the hospital.

The FSF further stated that Abdallah Sima, a player from their team, has withdrawn from the tournament and rejoined his Scottish club side, Glasgow Rangers, due to an injury.

“In addition, the FSF informs that player Abdallah Sima left the den today after passing exams following an injury contracted during training on Wednesday,” it said.

“Seeing an injury to the long adductor of the left thigh resulting in a long unavailability of the player, the medical staff of the selection and his club, Glasgow Rangers decided to return to the club for optimal management of his injury.”

The Nigerian economy is looking good in some sectors. This is not a harebrained assessment, despite the high inflation and the unstable exchange rate of the Naira. Those who doubt this don’t need to look far, for a reality check. The economic boom is happening at the Nigerian Exchange, where stockholders are not only recording unprecedented capital gains, but are poised to earn equally unprecedented dividends on their investments. The prosperity promised by President Bola Ahmed Tinubu during the campaign is becoming a reality, for millions of Nigerian investors, among whom will be the 6.6 million Nigerian shareholders of MTN, the biggest telco in the country.

 The upswing in the market began 30 May 2023, the second day Tinubu was sworn into office. What triggered the big rally in the market was the announcement by the new President of the end of the fraudulent petrol subsidy regime. The market took notice of this bold measure, along with the President’s promise to harmonise the exchange rate. Although the latter remains ‘work-in-progress’, it has been a bullish run in the market since then.

 The All Share Index which tracks the general market movement of all listed equities on the Nigerian exchange was 55,738.35 on 30 May 2023, a day after Tinubu was sworn in. In July it rose to 65,091. By 24 December, it reached 73,768, which as Bloomberg reported on 1 November, when the ASI first crossed the 70,000 mark, was the highest on record.

 As at the close of trading on Friday 19 January, the index leapfrogged to 94,538.12, more than 69 percent growth, since last May,  creating yet another huge record. 

 Market capitalisation also grew exponentially from N30.3 trillion recorded at end of May 2023   to N51.7 trillion on 19 January 2024. This means investors have gained more than N20 trillion since Tinubu came into office.

 The record gains have made the Nigerian Stock Market the best in the world, outperforming the MSCI Emerging Markets Europe, Middle East and Africa Index.

 Not surprising, investors are bringing more and more money to the market. Last Friday alone, 844.4 million units of stocks valued at N15 billion were traded in 15,255 deals.

 The phenomenal growth of the market was fuelled by the record profits announced by many Nigerian banks and some of the manufacturers, such as Dangote Cement, Bua Cement, Lafarge Africa, formerly known as WAPCO.

The banks were the first to rally the market into a frenzy, beginning from their second quarter reports, when they reported huge gains from their forex dealings. Zenith announced earnings per share  in H1 at N9.29 from N3.55 in the same period of 2022. UBA’s earnings per share stood at N10.95 in H1 2023 from N1.98 per share in the same period of 2022.

 The positive Q3 reports also threw the market into more frenzy as banks announced further increases in profits. Investors, in response lapped up the shares of the banks, sending the prices higher.

 UBA Plc which at the beginning of 2023 was trading at about N8 has seen the biggest jump in its stock price. By last Friday, it traded for N32. Access Bank which started the year at about N11-N12, has soared to N29. Zenith and GTCO are now trading in the N40s, from about N24-25 in January 2023. First Bank, FCMB, Fidelity, Sterling, Wema, Stanbic have all experienced the upswing in prices.

 Dangote Cement, Bua Cement and Bua Foods, Flour Mills of Nigeria, Okomu Oil, Presco, Transcorp, NAHCO and WAPCO have similarly  experienced some boom. Dangote on Friday, sold for N538, adding N48.9 to its weight, from its previous close of N489.9. WAPCO, otherwise known as Lafarge Africa traded at N31 in December. On 19 January, it traded for N47.

 The rise in stock prices is being propelled by investors who are taking positions, according to EDC Securities Research, ‘in fundamentally driven stocks as we approach the earnings season”.   The expectations and sentiments out there among the investors are that some  dividend windfall is on the way.

 The prosperity promised by the Tinubu administration may not be felt by all our 200 million people simultaneously. But it will not be far away as the government confronts the low inflow of forex into the economy, the fundamental reason exchange rate has gone bonkers and prices of imported and locally produced  goods have increased. President Tinubu and his cabinet expressed concern about  the rising costs of pharmaceutical products at the last Federal Executive Council meeting. His government is poised to implement a series of measures to assist local drug manufacturers so that they lower the costs.

 To address the low forex inflow, Nigeria is discussing as much as $1.5 billion of World Bank funding support for the budget, Finance Minister Wale Edun said in a Bloomberg Television interview. The country is also looking forward to the fulfilment of the pledge by Saudi Arabia to invest billions of dollars in our economy. NNPC Limited in the coming weeks will continue to be under pressure to bring in more dollars into the country’s foreign reserve to boost dollar availability and overturn bleak predictions for the national currency in 2024.

-Onanuga is the special adviser Information and Strategy to President Bola Tinubu.