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Homes, Streets Flooded As Another Storm Hits Central Greece

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Torrential rain battered central Greece, flooding streets, homes and businesses in the port city of Volos and on the island of Evia, just three weeks after devastating Storm Daniel killed 16 people in the wider region.

A private helicopter crashed into the sea in northern Evia, east of the Greek capital Athens, and a search and rescue operation was underway.

It was not immediately clear what caused the accident.

More than 250 people have been evacuated from the area since Storm Elias struck on Wednesday afternoon, the fire brigade said on Thursday, adding that it had so far received 1,200 calls for help.

The storm hit Volos with rain so heavy that water levels in the city and its suburbs rose rapidly in a few hours. A nearby stream overflowed, adding to the flooding.

The mayor of Volos said that by Wednesday night, power outages caused by the storm and flooding had plunged 80% of the city into darkness. Authorities have stopped all vehicles from going onto the roads.

On Thursday morning, the storm had moved towards the island of Evia were some villages in northern Evia have been ordered to evacuate, state ERT TV said.

Storm Elias is the second major storm to hit the region since Daniel, the most intense storm to hit Greece since records began in 1930, battered the region for three days earlier in September.

Nigeria Lose Afcon Hosting As Kenya, Uganda Get Nod

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Confederation of African Football (CAF) Executive Council members awarded the 2027 Africa Cup of Nations (AFCON) hosting right to Kenya, Uganda and Tanzania, thus pushing aside Nigeria and Benin Republic who had been jostling to host the event.

Nigeria last hosted the Nations in 2000 when she co-hosted with West African sister country Ghana.

The decision to award the right to the three countries as co-host took place in Cairo, Egypt, on Wednesday.

This is the first time ever Kenya, Uganda and Tanzania will emerge as host of the Continental tournament.

In 1980 Nigeria was awarded the hosting right of the AFCON and went on to emerge champions.

Earlier on Wednesday, the Executive Council members announced Morocco as host of the 2025 AFCON edition.

This will be the second time Morocco would be staging the AFCON, after first doing so in 1988.

Morocco polled 22 votes to beat off Nigeria and Algeria who did not get any vote.

Côte d’Ivoire will host the 2023 edition which will kickoff in January 2024.

The first time the tournament was held in Côte d’Ivoire was in 1984 which was won by Cameroon.

U.S. Closes $3b Loan Guarantee For First Virtual Power Plant Project

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U.S. Energy Department’s loan office on Thursday closed a $3 billion partial loan guarantee for a project to provide more than 100,000 homeowners with rooftop solar units and batteries and allow them to feed power into the local electric grid.

Sunnova Energy’s (NOVA.N) Project Hestia will give out loans to 75,000-115,000 homeowners throughout the U.S. to enable them to install rooftop solar, home battery systems and smart energy software that helps them use energy efficiently, the DOE said.

The project could potentially avoid 7.1 million tonnes of carbon dioxide emissions and generate 568 megawatts (MW) of emissions-free power over 25 years, it added.

Equipping homes with smart software and home energy generation can allow Sunnova to make them into Virtual Power Plants (VPP), networks of small energy-producing or storage devices that are pooled together to serve the electricity grid.

The Energy Department said on Thursday that this is the single largest commitment ever made by the U.S. government to solar power, and the DOE’s first loan guarantee for a VPP.

Project Hestia would target lower income homeowners and could create as many as 3,400 jobs, the Energy Department said.

VPPs have been on the rise in the U.S. since the Federal Energy Regulatory Commission in 2020 allowed them to compete in wholesale power markets.

They are also being used in Australia, Japan and Europe by companies including Statkraft (STATKF.UL), Shell-owned (SHEL.L) Next Kraftwerke, and Tesla Inc.

Exploring Skardu Fort, A Historic Fortress In Pakistan 

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Skardu Fort, also known as Kharpocho Fort, is a historic fortress which is located above the city of Skardu in the Gilgit-Baltistan Region, in the northern part of the Islamic Republic of Pakistan.

As there are some sources which claim that the fortress was built in 8 century, it is widely considered that it was built by King Ali Sher at the end of 16 century, and it was named Skardu Fort because it is considered to be the “King of Forts”.

With its important location, it was a primary target for attacks and occupation, and since the fort lies on the eastern face of the Khardrong Hill, also known as Mindoq-Khar or Castle of Queen Mindoq, it overlooks and protects the town that has the same name.

Within the fortress there aren’t structures which survived the time, however, there is a mosque that is considered to have been built with the arrival of the Islam in the region.

Still, the fortress was designed according to the model of some other fortresses, such as the Potala Palace in Tibet, China, but Skardu Fort was not fortunate enough to survive the plentiful campaigns of conquest, which finally was completely destroyed in 1857 under the guidance of the Maharaja of Jammu and Kashmir and head of the Jamwal Rajput clan, Ranbir Singh.

After the First Kashmir War, with a long siege of Skardu, the fortress became part of Kashmir that is still controlled by Pakistan, and at that time it was renamed into Gilgit-Baltistan.

Lastly, always succeeding to impress everyone who is eager and adventurous enough to visit this impressive Pakistani treasure, the Skardu Fort shall continue to tell the story of its long past that saw quite a lot of conquest and destruction, which in the end has only most of its walls to be the witnesses of those times.

Pension Account Registration Declines Further in Q2’23

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Registration of workers into the Contributory Pension Scheme, CPS, sustained a downward slide in the second quarter of 2023, Q2’23, as new Retirement Savings Accounts, RSAs, fell by 23.9 per cent to 63,693 from 83,654 recorded in the first quarter of 2023, Q1’23.

It will be recalled that the downward trend had started in the first quarter of 2023, Q1’23, as the number of new RSAs dropped by 10.2 per cent year-on-year, YoY, to 83,654 from 93,114 registered in the corresponding period of 2022, Q1’22.

Pensions: Nigeria Govt Releases N13.89bn for 2022 Retirees

According to the second quarter report released by the National Pension Commission, PenCom, a total of 63,693 new RSAs were registered and associated PINs issued to employees in different sectors, in the quarter ended 30 June 2023.

A breakdown of the RSA registrations indicates that Stanbic IBTC Pension Managers registered the highest number of new entrants with 19,076 representing 30% of the total enrollments while NPF Pension Fund Managers recorded the lowest numbers of new RSAs at just 33, which represents 0.05% of the total RSAs registered during the quarter.

Further findings show that Access Pensions registered the second highest numbers totaling 7,215 representing 11.3 per cent, Arms Pensions followed with 5,587 representing 8.7 per cent, while Leadway Pensure was next with 4,369 registrations representing 6.9 per cent.

On the lower side of the chart, Nigerian University Pension Management Company was second with 189 registrtaion representing 0.30 per cent, Veritas Glanvills Pensions Limited was next with 756 registrtaion representing 1.2 per cent, while Guaranty Trust Pensions Managers Limited recorded 1078 registrtaions representing 1.69 per cent.

FG Declares NIMASA As Most Digitally Transformed Agency

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The Presidency through the Bureau of Public Service Reforms has declared the Nigerian Maritime Administration and Safety Agency, NIMASA, as the best Federal Government Agency in Digital Transformation.

The Director General, who conveyed the Presidential award to NIMASA Management also announced that the Director-General of NIMASA, Dr Bashir Jamoh, has been nominated to receive the distinguished GovTech Trailblazers award for providing exemplary leadership.

The BPSR also announced that the awards were as a result of a nationwide nomination and online voting process initiated by the Bureau, as well as a detailed analysis of performance of all government MDAs at the national level.

NIMASA Gets Abuja Office After 30 Years

The award presentation is scheduled to take place in Abuja next month.

Reacting to the recognitions, Jamoh expressed his pleasure and assured of the Agency’s commitment to full operational digitalization.

He stated: “This award is a pleasant surprise. We weren’t expecting it. We were just doing our job. This award will spur us to accelerate our quest to fully digitalize all NIMASA operations.”

Public sector reform consists of deliberate changes to the structures and processes of public sector organizations with the objective of getting them to run better.

E-Banking Services: Bank Customers Pay N154bn Fees

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Customers of nine leading commercial banks paid N154 billion fee for using electronic banking services in the first half of the year (H1’23).

Details of the banks’ financial statements for H1’23 showed that the fee represents a 16.7 percent year-on-year (YoY) rise when compared to N131.97  billion paid in H1’22.

The banks are Guaranty Trust Bank which raked in N21.2 billion from the customers, Access Bank (N43.9), Zenith Bank (N22.27 billion), United Bank for Africa Plc (N51.07 billion), Stanbic IBTC (N2.14 billion), First City Monument Bank (N7.4 billion), Unity Bank (N1.96 billion), Fidelity Bank (N1.85 billion) and Wema Bank (N3.13 billion).

Electronic Banking is a service that enables banking transactions through electronic payment channels like internet banking, mobile banking, Automated Teller Machines (ATMs), Point of Sale (PoS) among others.

Bank Customers To Produce Indemnity For Online Transfers Above N1m – CBN

The rise in electronic banking fees and commission indicates that Nigerians’ adoption of electronic payment channels has continued to increase.

According to the Nigerian Interbank Settlement System (NIBSS) e-payment data for Q1’23 the volume of e-payment transactions grew YoY by 209 percent to 4.7 billion from 1.52 billion in Q1’22.

The value of e-payment transactions increased YoY by 48 percent to N137.52 trillion in Q1’23 from N92.85 trillion in Q1’22.

Meanwhile, in H1 ’23, the nine banks earned N66.7 billion from account maintenance fees and commission income, representing a 14.7 percent YoY rise when compared to N57.5 billion recorded in the corresponding period of 2022, H1’22.

In terms of highest account maintenance fees and commission income, Zenith Bank had the highest (N21.02 billion), followed by Access Bank (N13.36 billion), Guaranty Trust Bank (N10.5 billion), United Bank of Africa, UBA,  (N9.6 billion), First City Monument Bank, FCMB, (N3.85 billion), Fidelity Bank (N3.4 billion), Stanbic IBTC (N2.64 billion), Wema Bank (N1.63 billion) and Unity Bank ( N742.6 million).

However, in terms of growth,  UBA had the highest YoY  growth of 47.6  percent at N9.6 billion in H1’23 from N6.5 billion in H1’22.

The cumulative net fees and commission income for the banks grew YoY by 20.7 percent to N448.47 billion in H1’23 from N371.43 billion in H1’22.

Queues Resurface As Oil Prices Climb to $95 Per Barrel

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KEROSINE QUEUE/PRESS-2/MY DOCUMENT/MY DOCUMENT/JUNE 09 NIGERIANS STRUGGLING TO BUY KEROSINE AT NNPC MEGA STATION IN ABUJA ON WEDNESDAY (10/6/09). PHOTO; NAN

Oil prices rose by more than $1 a barrel on Wednesday after fuel queues that resurfaced in Lagos and its environs on Tuesday reduced.

Brent crude futures rose to $95 a barrel as of 5:27PM on Wednesday.

Long queues at filling stations resurfaced in Lagos and its environs on Tuesday, heralding fears of a fresh round of petrol scarcity in the country.

The new development follows findings that petrol supply had dropped by 93 per cent nationwide since the pronouncement of an end to fuel subsidies by President Bola Tinubu on May 29.

Many stations in Lagos were seen to shut their gates to customers, while the few that had products for sale witnessed conspicuously long queues.

The premises of North West and NNPCL Retail with products saw a large turnout of vehicles and customers carrying kegs.

Statistics gathered from a report by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, revealed that supply had dropped drastically after May.

Petrol supply by the NNPCL has dropped from 68,353,981 litres before the removal of petrol subsidy to 4,544,002 litres in August.

Vandalised Pipelines: Marketers Predict More Fuel Queues

Statistics on the ‘Daily Truck Out’ report obtained from the NMDPRA revealed that supply was around 68,353,981 litres per day as of June 30.

Before the removal of petrol subsidy, the Group Chief Executive Officer of NNPCL, Mele Kyari, said that the daily consumption was around 66 million litres.

However, checks on NMDPRA’s latest report for August 20, showed that supplies by the NNPCL had dropped 4, 544,002 litres as of August 20.

Petrol subsidies had gulped around N12tn before it was officially removed in May.

The high forex rate and oil marketers’ inability to import products eventually pushed the responsibility of meeting local consumption demand back on the NNPCL.

Meanwhile, the Group Executive Director of Dangote Group, Devakumar Edwin, last week said the refinery would commence refining with diesel and jet A fuel in October, and petrol in November.

Just In: Federal Govt. Declares Monday October 2 Public Holiday

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The Federal Government has declared Monday October 2 as a public holiday in commemoration of the 63rd independence celebration.

The Minister of Interior, Olubunmi Tunji-Ojo, made the declaration in Abuja on behalf of the government.

He congratulated all Nigerians at home and in the Diaspora on the occasion.

Federal Govt Declares September 27 Public Holiday

He assured Nigerians of government’s continued commitment to tackling challenges facing the country.

“It is today a known fact that difficult Socio-Economic and Security challenges are global, and Nigeria is not isolated,”the Minister said in a statement signed by the Permanent Secretary of the Ministry Dr Oluwatoyin Akinlade.

The Minister said that government is making efforts to confront the numerous challenges with all the might available until respite comes the way of the country.

Tunji-Ojo reiterated that the eminent position of Nigeria in the comity of Nations and the greatness ahead of the country is achievable if we all work together in unity.

He said the nation’s warm welcoming spirit and love as well as its unbounded human capital and the richness of the land makes Nigeria unarguably the leading black Nation in the World.

The Minister maintained Nigeria would remain Africa’s pride and beacon of hope for the Renewed Hope of President Bola Ahmed Tinubu.

Sanwo-Olu Warns Traders On The Red Line Corridor 

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The Lagos state Governor, during a tour of the Red Line corridor, stopped at the Agege Station of the Red Line Rail, where he gave the traders just 2 days to vacate the tracks.

He says the whole tracks will be walled off totally.

Sanwo-Olu warned the traders against selling along rail corridor reiterating that the line is meant for transportation and not trading.

He added that the government did not want any incident of death on the train track.

“When trains begin operations here, they will be plying these tracks every five minutes. I don’t want any incident of death here.

And I will block the other market so that there will be no passage to this place anymore.”

The governor, who was accompanied by his deputy, Dr Obafemi Hamzat, and the Managing Director, Lagos Metropolitan Area Transport Authority, Abimbola Akinajo, among others, also inspected the Agbado, Fagba and Ikeja stations of the Red Line rail.