The Chairman of the Independent Corrupt Practices and Other Related Offences Commission, Musa Aliyu, has said he will be appearing in court to defend anti-corruption cases involving the commission.

The anti-graft agency boss who was the Attorney-General of Jigawa State before his appointment as ICPC Chairman, made this known on Wednesday during a media chat with reporters in Abuja.

Aliyu said, “I’ll lead by example. By the grace of God, I intend to be appearing in cases of ICPC (in court). I don’t think there was ever a chairman of ICPC who appeared in court, but I’ll be the first. I am deeply committed to realising a vision for Nigeria where the principles of integrity, accountability, and transparency are not mere ideals but are deeply woven into the very fabric of our society.”

Musa further noted that the fight against corruption requires a collaborative, multi-sectoral approach, transcending the capabilities of any single entity.

He revealed that his administration will engage diverse stakeholders — the media, other anti-corruption agencies, civil society, the private sector, international partners, and citizens— to pool perspectives, expertise, and resources.

He further hinted that the ICPC’s fight against corruption would henceforth be based on the use of technology to fast-track the process.

He said, “In line with this commitment, the ICPC is actively enhancing inter-agency collaboration. A recent example of this is our recent visit to the EFCC. By uniting forces and sharing resources, we aim to intensify our collective fight against corruption, paving the way for a more transparent and accountable Nigeria. We would be collaborating more with the EFCC, the CCB, and the NFIU.

“Innovation is key in our ongoing battle against corruption. We are in an era where technology has revolutionised the way we live and work. As such, the ICPC is committed to integrating innovative approaches and cutting-edge technology into our operational framework.

“From leveraging data analytics for efficient resource management to employing advanced digital tools for effective corruption detection, technology will be at the forefront of our strategies.”

Musa noted that the ICPC’s threefold strategy is prevention, investigation and prosecution which forms the bedrock of the commission’s action plan against corruption.

He added, “Prevention is our first line of defence. We are dedicated to instilling a culture of ethics and integrity within our public service. By enhancing institutional transparency and accountability, we aim to create an environment where corruption finds no fertile ground to thrive.

“Our focus extends to capacity building, ensuring that our institutions and personnel are equipped to uphold the highest standards of conduct. In the area of investigation, our commitment is unwavering. We will fortify our internal control systems and uphold strict ethical standards. The ICPC will utilise advanced technological tools to detect and thoroughly examine corruption cases.

“Lastly, in terms of prosecution, we are determined to ensure that justice is not just done, but seen to be done. Strengthening our legal and regulatory frameworks will be paramount to support robust prosecutions. We will work tirelessly to ensure the efficient legal processing and adjudication of corruption cases, maintaining a solid legal foundation for accountability.”

[Punch]

The Federal Government of Nigeria took an ‘offensive’ action in protecting its dwindling elephant population by disposing of 2.5 tons of confiscated elephant tusks.

These tusks, which were valued at over $11.2 million (9.9 billion Naira), were reportedly seized from wildlife traffickers.

The government said the destruction of these tusks serves as a strong message against illegal wildlife trade and emphasizes the incumbent administration’s commitment to safeguarding its precious elephants.

See more photos below as shared by Channels Television.

THE Confederation of African Football (CAF) has claimed that hundreds of millions of football fans from at least 180 countries across the world will watch the matches of the 2023 Africa Cup of Nations (AFCON 2023).

The tournament will begin on Saturday and end on February 11, with 24 national teams, including the Super Eagles of Nigeria, competing across five cities in Cote d’Ivoire.

“The Confédération Africaine de Football (“CAF”) today announced the conclusion of extensive global broadcast agreements with TV-Broadcasting Rights Holders from Africa, Europe, Asia, South America, North America and the Caribbean ahead of the kick-off of the TotalEnergies CAF Africa Cup of Nations (“AFCON”) Côte d’Ivoire 2023,” CAF stated today.

“The global TV-Broadcast partners include Sky (United Kingdom), BBC (United Kingdom), LaLiga+ (Spain), SportItalia (Italy), Sport Digital (Germany & Switzerland), SportTV (Portugal), Viaplay (Nordics) and Band TV (Brazil).

“BeIN Sport, CANAL+, New World TV and approximately 45 Free To Air broadcasters have also concluded partnership agreements with CAF and this will result in the TotalEnergies AFCON Côte d’Ivoire 2023 being broadcast in approximately 180 countries.

“The significant increase in financial investment by TV-Broadcasting Rights Holders from Africa, Europe, Asia, South America, North America and the Caribbean will result in a substantial global increase in viewership of the TotalEnergies AFCON Côte d’Ivoire 2023.”

CAF is projecting a big raise in its revenue due to the unprecedented interest in the continental showpiece, in which African players from across the world’s top leagues will feature.

“CAF’s Broadcasting revenues will also increase significantly and this will assist with the development and growth of football in Africa,” the continental ruling body added.

“The TotalEnergies AFCON Côte d’Ivoire 2023 is expected to be the most competitive as all the prominent and successful African Football Nations will be competing in Côte d’Ivoire for the prestigious AFCON Cup.”

CAF President, Dr Patrice Motsepe said: “African football and the TotalEnergies AFCON competition is recognised as being amongst the most competitive and exciting in world football.

“We are delighted by the extensive global broadcast agreements concluded by CAF with the TV-Broadcasting Rights Holders. Huge investments are being made in youth football, including schools football, professional leagues, training of coaches and referees, as well as the building and upgrading of football infrastructure in Africa. This is contributing enormously to the quality of African football being globally competitive and as good as the best in the world.

“CAF is committed to working together and assisting the Media during the TotalEnergies AFCON Côte d’Ivoire 2023 and at all future CAF competitions and events.”

 [NaijaTimes]

As part of a list of short-term investment options, Money Market funds are a popular choice for investors seeking stability and liquidity.

They typically offer higher interest rates compared to regular savings accounts and often provide easy access to your funds.  

These funds invest in short-term debt securities such as Treasury bills, commercial papers, government-issued bonds, fixed deposit accounts, and other bank placements. 

While they aim to maintain a stable net asset value (NAV), it’s essential to note that they aren’t entirely risk-free and may still be subject to some market fluctuations.  

Nairametrics has tracked 10 of the money market funds in Nigeria to look out for in 2024, based on their fund sizes, most available yield data, and ratings from reputable credit rating agencies.  

Note that all the funds listed here are all registered with the Securities and Exchanges Commission.

AIICO Money Market Fund 

AIICO Money Market Fund is managed by AIICO Capital Limited with UBA serving as the fund custodian. The fund is rated A+(NG)f with a stable outlook by GCR Ratings. 

As of December 22, 2023, the fund reached a size of N4.71 billion, with a whopping yield of 14.24%. The AIICO MMF features a portfolio of 37% fixed deposits, 25% treasury bills, and 24% commercial papers.  

The minimum investment amount allowed in AIICO MMF is N10,000.  

ARM Money Market Fund 

ARM Money Market Fund (ARM MMF) is managed by ARM Investment Managers, with the custodian being Citibank Nigeria Limited. The fund has a rating of A+(f) from Agusto & Co.  

As of January 7, 2024, the effective yield of the fund was put at 10.52% per annum, with the fund size being N79.94 billion.  

ARM MMF portfolio features only government securities and money market instruments (certificate of deposits, commercial papers, and treasury bills, among others).  

The minimum investment allowed in the ARM Money Market Fund is N1,000. 

AXA Mansard Money Market Fund 

Managed by AXA Mansard Investments Limited, the AXA Mansard MMF was launched in 2016, with fund custodians being RMB Nominees. The fund has a rating of A+(f) by Agusto & Co.   

As of January 8, the fund currently has a net yield of 11.66% per annum, with the fund size being about N43.71 billion.  

AXA Mansard MMF invests in a portfolio of assets which includes 67.18% fixed deposits, 25.59% treasury bills, and 6.65% commercial paper. The minimum investment amount allowed in AXA Mansard MMF is N2000. 

Chapel Hill Denham Money Market Fund 

Chapel Hill Denham Money Market Fund is managed by Chapel Hill Denham Management Limited, with UBA serving as custodians. The fund has a rating of A(F) from Agusto & Co. and AA- from GCR Ratings.  

As of December 22, 2023, the fund had a size of N7.3 billion with a yield of 10.38%. The fund has a minimum investment amount of N5000 with a minimum holding period of 30 days. 

Its portfolio boasts short-term investment securities, bank placements, and other money-market instruments.  

FBN Money Market Fund 

FBN Money Market Fund is managed by FBNQuest Asset Management, a subsidiary of FBN Holdings Plc. It was launched in 2012, and it presently has a rating of Aa-(f) assigned by Agusto & Co. 

The FBN MMF as of December 22, 2023, had a size of N195.78 billion. And, as of January 4, 2024, it had an effective yield of 12.15%.  

The fund’s portfolio features 7% commercial papers, 15% treasury bills, and 78% bank placements.  

Stanbic IBTC Money Market Fund 

Stanbic IBTC MMF is the largest money market fund in Nigeria, in terms of fund size, placed at about N375.7 billion.  

The fund was launched in 2010 by Stanbic IBTC Asset Management Limited, and it presently has a rating of Aa-(f) rating from Agusto & Co. As of December 22, 2023, it had a yield of 13.25%.  

The minimum investment amount in Stanbic IBTC MMF is N5000, and the income distribution is quarterly. The Stanbic IBTC MMF features an asset class of 27.98% Bonds, 3.77% Equity, 67.74% Money Market, and 0.51% cash.  

United Capital Money Market Fund 

United Capital Money Market Fund is managed by United Capital Asset Management Limited. The fund has a rating of A(f) by Agusto & Co.  

The fund had a size of N44.26 billion, with a yield of 11.70% as of December 22, 2023. The minimum investment amount allowed is N10,000.  

The fund’s portfolio features 26.1% treasury bills, 59.0% fixed deposits, and 15.0% commercial papers.   

Zenith Money Market Fund 

Quantum Zenith Asset Management and Investments Limited manages the Zenith MMF, which was launched in 2017 and relies on Stanbic Nominees Limited for custodian services. The fund has a rating of A-(f) by Agusto & Co.   

As of December 22, 2023, the fund had a size of N27.19 billion with a yield of 11.91%. And the minimum investment amount allowed is N10,000 

Its diverse portfolio encompasses cash equivalents, bank placements, short-term government securities, and other money market instruments.  

Meristem Money Market Fund 

Meristem Money Market Fund is managed by Meristem Wealth Management Limited, with Standard Chartered Bank serving as the custodian.

The fund has a rating of A(f) from Agusto & Co.  

As of December 22, 2023, the fund had a size of N3.63 billion with a yield of 12.73%. Meristem MMF has a minimum entry amount of N10,000.  

The fund’s portfolio features about 48.3% treasury bills, 17.14% commercial papers, 32.7% fixed deposits, and 1.8% cash.  

Norrenberger Money Market Fund 

Norrenberger Money Market Fund is managed by Norrenberger Investment and Capital Management Limited, with UBA serving as the custodian.

The fund has a rating of Bbb+(f) from Agusto & Co.  

The fund has a size of N4.71 billion with a yield of 12.54% as of December 22, 2023.

The minimum subscription amount allowed in Norrenberger MMF is N5,000 with subsequent investment contributions of N1000.  

Note 

Subject to potential market fluctuations, the money market funds included in this compilation have been meticulously chosen, considering their ratings provided by established credit rating agencies, their substantial fund sizes, and the most recently available yield data.  

Please note that while these factors indicate the funds’ performance and stability, market conditions can impact their future yields and overall performance.

Therefore, the information provided serves as a guide and may be subject to changes influenced by market dynamics. 

Also, each fund listed within this compilation operates under the regulatory oversight of the SEC (Securities and Exchange Commission).

Furthermore, all these funds have their assets safeguarded by esteemed banking institutions within the country.  

Nigeria’s national football team, the Super Eagles, have arrived at the Aéroport International Felix Houphouet Boigny d’Abidjan in Cote d’Ivoire ahead of the 2023 African Cup of Nation (AFCON). 

That Super Eagles stormed the West African country on Wednesday afternoon with all team members stylishly dressed in native attires. 

The players and team officials were adorned in white kaftan with green caps, showcasing Nigeria’s national colours.

The Super Eagles departed the Murtala Muhammad International Airport in Lagos around noon local time today.

Coach Jose Peseiro and his coaching crew, including his countrymen from Portugal, jointed the Nigerian players in dressing in the stylish native wear with a crown-like cap that was made to go with it.

It is with a heavy heart that President Bola Ahmed Tinubu receives the news of the passing of His Eminence, Sheikh Abdul-Hafeez Aṣhamu Abou, Baba Adinni of Lagos and Chairman of the Executive Council of Lagos Central Mosque.

President Tinubu condoles with Baba's family, the Muslim community in Lagos, as well as the Lagos State Government over this very sad loss.

The President celebrates the inspiring legacy of service, duty, and sacrifice of Baba, who passed away at 100 years old, noting his extraordinary contributions to the Muslim Ummah, Lagos State, and beyond.

"Baba dedicated his life to the service of the people. He lived a full life guided by the highest and noblest moral codes. He was a fine example for all of us. He will be sorely missed. We should take solace in Baba's legacy and uphold his values of honesty, dignity, and sacrifice," the President says.

President Tinubu prays that Almighty Allah grant Baba the highest station in Al-Jannah Firdaus.

Chief Ajuri Ngelale

Special Adviser to the President

(Media & Publicity)

January 10, 2024

The Deputy Governor of Edo State, Philip Shaibu, has expressed his sense of betrayal by his principal, Godwin Obaseki, for not backing his candidature in the upcoming 2024 governorship election.

Shaibu, who claims he was persuaded to be the deputy governor to Obaseki, said he added value to Obaseki’s government in terms of political structure and his finances.

Speaking during an interview on Arise TV on Wednesday morning, Shaibu said he was hurt that Obaseki is supporting an outsider instead of him.

More details later…

The Nigerian Television Authority (NTA) has announced that it will broadcast all 52 games of the forthcoming African Cup of Nations (AFCON) live.

In a post on X on Wednesday, the federal government-owned television station said it had signed a memorandum of understanding with AfroSports TV, a cross-continental Free-To-Air (FTA) sports channel.

“NTA signs a memorandum of understanding with Afro Sports TV for transmission of 52 games of African Cup of Nations in Cote d’Ivoire,” the post read.

The announcement by NTA follows a few weeks of confusion after MultiChoice, the parent company of DStv and GOtv, disclosed that it had failed to acquire the broadcasting rights for the AFCON billed to hold Ivory Coast.

The broadcast powerhouse said its SuperSport channel would not show the competition billed to commence on January 13.

Shortly, it was revealed that Multichoice was beaten to the broadcasting rights by New World TV, a Togolese audio-visual group.

New World TV had won the rights to broadcast all CAF’s 13 competitions to the sub-Saharan African audience for two years.

The deal will hold from 2023 to 2025, encompassing the forthcoming AFCON and the tournament’s next edition.

There were concerns about the cross-continental reach of New World TV, which only has footholds in majorly French-speaking African countries.

However, StarTimes announced it had struck a sublicensing deal with New World and would air the competition on its sports channels.

The 34th edition of the AFCON will be held in Ivory Coast from January 13 to February 11.

The Super Eagles of Nigeria are in Group A alongside Ivory Coast, Equatorial Guinea and Guinea-Bissau.

Nigeria will take on Equatorial Guinea in their opening game on January 14 before facing Ivory Coast four days later and rounding off the group stage with the Guinea-Bissau tie.

The Eagles recently returned from a one-week training camp in Abu Dhabi, United Arab Emirates (UAE), where they thrashed Al Gharaib, a local club, 12-0 before losing 2-0 to Guinea a day later.

The team will proceed to Ivory Coast on Wednesday

Members of the Rivers State House of Assembly loyal to the minister of the Federal Capital Territory (FCT), Nyesom Ezenwo Wike, yesterday unanimously agreed to write Governor Siminalayi Fubara, over the delay in the presentation of the 2024 Appropriation Bill.

They also resolved to write Fubara over the delay in the presentation of the state‘s Medium Term Expenditure Framework in line with the 1999 Constitution as amended.

President Bola Ahmed Tinubu had during his intervention on the face-off between Wike and the governor, directed Fubara to present the 2024 budget to the Martins Amaewhule-led House.

The governor had on December 13, 2023, presented the 2024 Appropriation Bill of N800 billion to the Hon. Edison Ehie-led lawmakers, who are loyal to him.

The budget was passed that same day and was assented to by Fubara on December 14, 2023.

Speaker of the House, Amaewhule, had while speaking on the Order of the Day, cited relevant sections of the 1999 Constitution of the Federal Republic of Nigeria as altered, that empowered the State House of Assembly to receive report of the audited account of the state.

He therefore urged the House Committee on Public Accounts to investigate why the Auditor-General of the state has not submitted the 2022 audited account of the state to the House.

Responding, the chairman of the Public Accounts Committee, Hon. Major Jack, requested the House to give the committee more time to enable it to do further inquiry and consultation before submitting its report.

During yesterday‘s sitting, the Pro-Wike lawmakers, gave first reading to a bill which seeks to amend the Rivers State Traditional Rulers Law No. 4 of 2015.

Presenting the bill, majority leader of the House, Hon. Major Jack, averred that the bill seeks to amend some sections of the Principal Law, and when passed, will make the traditional rulers law be in tune with current realities.

In the same vein, the House gave first reading to a bill which seeks to repeal the Rivers State Advertisement and Use of State-owned Property (Prohibition) Law No.7 of 2022.

The bill was sponsored and presented by the member representing Port Harcourt Constituency II, Hon Tonye Smart Adoki.