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Protest at APC National Secretariat over replacement of party NWC

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Countless number of police personnel are currently laying siege at the All Progressives Congress (APC) National Secretariat in Abuja, ahead of the swearing in of newly appointed members of the National Working Committee (NWC).

Already the battle-ready police officers strategically positioned along the entrances of Blantyre Street,housing the headquarters of the party,where hundreds of the protesters from Cross River State defiantly chanting protest songs.

The group are contesting against the nomination of Mary Alile Idele from Edo State as National Women Leader (South South Zone) whom they claimed is the candidate of Comrade Adams Oshiomhole,instead of Dr Stella Odey-Ekpo, the candidate of the Minister of Humanitarian Affairs, Beta Edu.

Recall that the ruling party had equally settled for Duro Meseko (Kogi State) as the new Deputy National Publicity Secretary (North Central Zone) to replace Yakubu Ajaka, as allegedly recommended by James Faleke against the candidate recommended by Governor Bello.

BRICS to admit Iran, Saudi Arabia, four others as new members

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The five BRICS nations – Brazil, Russia, India, China, and South Africa – have announced they would extend their membership strength by admitting six new countries next year. BRICS stated they would give admission to Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates from January 1, 2024, the Guardian UK reported.

They disclosed this during the summit which began on Tuesday in Johannesburg, South Africa, stating that the effort is become the club of large and populous emerging economies seeking to reshape the global order.

Speaking on the expansion of the membership, the Chinese President, Xi Jinping, said it would kick-start a new vigour and further strengthen BRICS cooperation.

“This membership expansion is historic,” Xi said. “The expansion is also a new starting point for BRICS cooperation. It will bring new vigour to the BRICS cooperation mechanism and further strengthen the force for world peace and development.”

The Ethiopian Prime Minister, Abiy Ahmed, praised what he called “a great moment” for his country. “Ethiopia stands ready to cooperate with all for an inclusive and prosperous global order,” he said on X, formerly known as Twitter.

According to the Guardian UK, calls to enlarge BRICS had dominated the agenda at its three-day summit in South Africa and exposed divisions among the bloc over the pace and criteria for admitting new members.

But the group, which makes decisions by consensus, had agreed on “the guiding principles, standards, criteria and procedures of the BRICS expansion process”, said the South African president, Cyril Ramaphosa.

China, USA, Russia, EU, India lead in fuel subsidy — IMF

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The International Monetary Fund, IMF, has hinted that the lead world economic powers are leading in aggregate global fossil fuel subsidy. It also stated that globally, total fossil fuel subsidies amounted to $7 trillion in 2022, equivalent to nearly 7.1 percent of global Gross Domestic Product, GDP.

The Fund in its report titled “IMF Fossil Fuel Subsidies Data: 2023 Update”, released yesterday, disclosed this stating that explicit subsidies (undercharging for supply costs) account for 18 percent of the total while implicit subsidies (undercharging for environmental costs and forgone consumption taxes) account for 82 percent.

The report states “Explicit subsidies have more than doubled since the previous IMF assessment, from $0.5 trillion in 2020 to $1.3 trillion in 2022, with sharply higher international fossil fuel prices.

‘‘However, much of the increase is due to temporary price support measures, and hence explicit subsidies are expected to decline if international prices continue receding from their peak levels.

‘‘Implicit subsidies are projected to rise in the baseline as the share of fuel consumption in emerging markets (where local environmental costs are generally larger) continues to climb.”

The report noted that the differences between efficient prices and retail prices for fossil fuels are large and pervasive across fuels, but especially for coal.

“Globally, 80 percent of coal consumption was priced at below half of its efficient level in 2022. ‘‘Under pricing for local air pollution and global warming account for nearly 60 percent of global fossil fuel subsidies and under pricing for supply costs and transportation externalities (such as congestion) explain another 35 percent (the remainder is accounted for by forgone consumption tax revenue). 

“By fuel product, undercharging for oil products accounts for nearly half the subsidy, coal another 30 percent, and natural gas nearly 20 percent (under pricing for electricity accounts for the remainder). ‘‘By region, East Asia and the Pacific accounts for nearly half of the global subsidy. ‘‘By country, in absolute terms China remains the biggest subsidizer of fuels, followed by the US, Russia, EU, and India. 

‘‘Fully reforming fossil fuel prices by removing explicit fuel subsidies and imposing corrective taxes such as a carbon tax would reduce global carbon dioxide (CO2) emissions by 43 percent below ‘business as usual’ levels in 2030 (34 percent below 2019 levels).

 ”Indeed, for developing countries as a whole, revenue gains from full price reform exceed the estimated extra spending needed to achieve the Sustainable Development Goals.  Fuel price reform would avert about 1.6 million premature deaths per year from local air pollution by 2030.  Reforming fossil fuel subsidies is in countries’ own interest, even when excluding climate benefits” the report stated.

IPOB attacks Army base in Imo

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Owerri Men of the Nigerian Army have reportedly foiled an attack on the Forward Operating Base by the Indigenous People of Biafra fighters in Imo State. The Army said the IPOB fighters who attempted the attack on its base were met with stiff resistance by the personnel on the ground.

A statement on Tuesday by the Director of Army Public Relations, Brig. Gen. Onyema Nwachukwu said that in the fierce gun battle that ensued on August 20, the troops killed one of the fighters and arrested two.

The statement read: “Troops of 34 Artillery Brigade, operating in 82 Division, Nigerian Army Area of Responsibility have foiled an attack by Indigenous People of Biafra and its armed affiliate, Eastern Security Network on its Forward Operating Base at Ukwuorji, along Owerri – Onitsha expressway.

“The irredentist fighters attempted the attack on the troops on 20 August 2023 but met their Waterloo, when they came under the superior firepower of the vigilant troops. The troops neutralized one of the fighters, while 2 others were arrested, as others fled.

“Items recovered at the scene of the shootout, include one vehicle, one mobile phone, one machete, nine empty cases of expended 7.62 mm Special Ammunition, and one empty case of expended 12.7mm Ammunition.”

He also said a Boko Haram fighter with his wife surrendered to troops after an aggressive operation in Borno.

“In another development, following troops’ aggressive combat operations against insurgents in the northeast, one Boko Haram fighter alongside his wife surrendered to troops of 26 Task Force Brigade Garrison in Gwoza. Items recovered from the terrorist, include one AK 47 Rifle and 10 Live rounds of 7.62 mm Special Ammunition, ” the statement added.

Onyema also disclosed that troops in another operation on August 21 were waylaid by bandits preparing to attack a village in Zamfara State. He said two of the bandits were killed, four motorcycles and two AK 47 Riffles were recovered from them.

Emefiele explores plea bargain deal regarding Alleged N6.9bn fraud

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Indications emerged yesterday that the embattled suspended governor of the Central bank of Nigeria, CBN, Mr. Godwin Emefiele, may be exploring a plea bargain deal with FG. This is even as his scheduled fresh arraignment before the High Court of the Federal Capital Territory, FCT, sitting at Maitama, was again, stalled yesterday.

Neither Emefiele nor his co-defendant in the 20-count corruption charge the Federal Government entered before the court, Mrs. Saadat Yaro, were present for the proceeding. Though trial Justice Hamza Muazu, who is sitting as the vacation judge, was on seat, Emefiele’s case was, however, not listed on the court’s cause-list.

An official of the court who spoke to Vanguard but pleaded not to be named, said the case could not proceed as planned, “due to fresh developments in the matter.” “Because of the developments, my lord had to suspend the arraignment. A new return date will be communicated to all the parties,” the official added.

Meanwhile, one of the defence lawyers in the matter, who dropped hint of the plea bargain to newsmen, said the move to settle the case out-of-court was at the instance of the erstwhile CBN boss.

“The parties are in talks and hopefully the matter will not proceed to trial. We are exploring a plea bargain arrangement. We have asked the court to give us at least two weeks,” the lawyer added.

Whereas Emefiele’s lawyer, Mr. Kehinde Akinlolu, SAN, confirmed that the scheduled arraignment of his client would not go on, he was however silent on the plea bargain issue. He said the new trial date may likely be issued by the Chief Judge of the high court, Justice Hussein Baba-Yusuf.

A plea bargain is a negotiated term of settlement in criminal trials that allows a defendant to plead guilty to a lesser offence or reduced charge, in exchange for a reduction in sentence or dismissal of the charges.

The terms of agreement between the prosecution and the defendant are subsequently accepted by the trial court which adopts same as its judgement in the matter. Such arrangement is allowed under section 270(1) & (2) of the Administration of Criminal Justice Act, ACJA, 2015.

It will be recalled that Emefiele’s arraignment was equally stalled on August 17, following the absence of the 2nd defendant, Mrs. Yaro, who is a staff of the apex bank. The Director of Public Prosecution of the Federation, DPPF, Mr. Mohammed Abubakar, who is prosecuting the case for the Federal Government, had informed the court that Mrs. Yaro took ill.

A company, April 1616 Investment Limited, was cited as the 3rd defendant in the charge which borders on conspiracy, procurement fraud and an allegation that suspended CBN governor conferred corrupt advantages on himself and his associates.

Specifically, FG, alleged that Emefiele had while he held sway as head of the apex bank, awarded contracts to the company which had Mrs. Yaro, a staff of the bank, as its Director. It alleged that the contract included the purchase of over 98 exotic vehicles and armoured buses that were valued at about N6.9billion.

The prosecution told the court that some of the items the defendants bought between 2018 and 2020, included 84 Toyota Hilux vehicles, 10 armoured Mercedes Benz buses, three Toyota Landcruisers and one Toyota Avalon car.

Among those listed to testify in the matter, included the Director of Procurement at the CBN, Stanley Alvan, Head of Procurement at the bank, Mike Agboro, Tahir Jafar, David Usman, as well as bank officials.

The defendants were said to have acted in breach of various provisions of the Corrupt Practices and Other Related Offences Act, 2000. Operatives of the DSS arrested Emefiele at his Ikoyi residence in Lagos a day after he was suspended as the governor of the CBN by President Bola Tinubu.

He was subsequently arraigned before the Federal High Court in Lagos on July 25, on a two-count charge of illegal possession of a firearm and ammunition.

Though the court granted Emefiele bail to the tune of N20million with one surety in the like sum, however, he could not regain his freedom as the DSS re-arrested him within the court premises, in an operation that led its agents to violently manhandle a senior prison official.

Emefiele was later flown to Abuja to face the instant case, after the former charge against him was withdrawn and struck out. Meantime, in a related development, Justice E Okpe of the FCT high court, on Tuesday, struck out two separate cases that Emefiele’s siblings, George and Okanta, filed against the Department of State Services, DSS.

The duo had approached the court for an order of perpetual injunction to restrain the security agency from inviting, intimidating, harassing, arresting or detaining them in relation to the case against their brother.

At the resumed proceedings in the matter, counsel for the Applicants, Ms. Grace Ehusani, told the court that his clients filed notice to discontinue the case. Though the DSS, through its lawyer, Mr. Ibrahim Awo, did not oppose the Applicants’ request, it, however, urged the court to dismiss the suits with substantial cost. Likewise, counsel to the Attorney-General of the Federation, Maimuma Lami-Sheru, equally demanded for N2m cost to be awarded against the Applicants.

In his ruling, Justice Okpe dismissed the case, though he declined to award cost against them, the vacation judge, dismissed the cases and ordered no cost should be paid by the Applicants.

Wagner chief, Yevgeny Prigozhin, dies in Russian plane crash

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Wagner boss, Yevgeny Prigozhin, is said to be in a private plane that crashed in Russia. Russian state-run news agencies on Wednesday said that Yevgeny Prigozhin, the head of the Wagner group that led a mutiny against Russia’s army in June, was on the list of passengers of a plane that crashed.

“The plane that crashed in the Tver Region listed Yevgeny Prigozhin among its passengers, (Russia’s aviation agency) Rosaviatsia said,” TASS news agency reported, with RIA Novosti and Interfax issuing similar reports.

“There were 10 people on board, including 3 crew members. According to preliminary information, all those on board died,” Russia’s ministry for emergency situation had said shortly before. Around 1700 GMT the ministry announced that a “private Embraer Legacy aircraft travelling from Moscow to Saint Petersburg crashed near the village of Kuzhenkino in the Tver Region.”

It said it was conducting search operations. Videos on Telegram channels linked to Wagner posted footage — that AFP could not independently confirm — showing the wreckage of plane burning in a field.

In June Prigozhin led a short-lived rebellion against Russia’s conventional army with thousands of mercenaries taking up weapons and marching from southern Russia towards Moscow with the aim of toppling the country’s military leaders.

The mutiny ended with a deal, mediated by Belarusian leader Alexander Lukashenko, under which Prigozhin was expected to move to neighbouring Belarus with some of his men. He since then refused to cede command of Wagner, but mostly stayed out of the public eye. On Monday, video circulated showing him apparently in Africa, which he vowed to make “freer”.

Algeria, Egypt oppose military action, seek dialogue

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Algeria and Egypt have moved against military intervention in the Niger Republic, insisting that dialogue remains the best option out of the current political crisis in the country.

Recall that West African leaders had, in the aftermath of the coup that toppled President Mohamed Bazoum, threatened to embark on military intervention in the Sahel country should the coup leaders, led by General Abdourahmane Tchiani, fail to restore democracy in the country and the ousted president to power.

Oppositions to military option have also come from prominent individuals and groups in Nigeria, including the National Supreme Council for Islamic Affairs, NSCIA, Jama’atu Nasril Islam, JNI, Catholic Bishops Conference of Nigeria, CBCN, Christian Association of Nigeria, CAN, Arewa Consultative Forum, ACF, and Northern Elders Forum, NEF, among others.

While also advocating dialogue to resolve the crisis in Niger, they contended that any military operation in the country could create problems for Nigeria, being its closest neighbour.

This is even as indications emerged yesterday that over 7,000 migrants are currently stranded in Niger as a result of border closures.

To find a solution to the lingering problem, the Algerian President, Abdelmadjid Tebboune, has dispatched the foreign minister, Ahmed Attaf, to visit Nigeria, Benin Republic and Ghana.

The Foreign Minister, who started the tour yesterday, is to hold consultations with his counterparts in ECOWAS countries, with a mandate to make a case for diplomacy, rather than military intervention.

Algeria, which shares a 1,000-kilometre (600-mile) long land border with Niger, had previously warned against a military solution, which Tebboune said would be “a direct threat” to his North African country.

He said: “There will be no solution without us (Algeria). We are the first people affected.”

The African Union suspended Niger on Tuesday until civilian rule is restored and also said it would assess the implications of any armed intervention.

Algeria also shares borders with Libya and Mali, both in the throes of years-long conflicts.

Niger is the fourth nation in West Africa since 2020 to suffer a coup, following Burkina Faso, Guinea and Mali.

Ideye, Akwuegbu Top List of 10 Most Traveled Nigerian Footballers

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Footballers are journey men. During their career, which may span over two decades or more, some players transverse the world, playing from one league to the other. But some others are not that lucky like Evangelist Ebenezar Obe’s “Ajala” who traveled all over the world, but choose to stay in one or two clubs through out their career.

Let’s beam our searchlight on the top 10 most traveled Nigerian footballers. We will represent each country the player played with a club or two and not necessarily mentioning all the clubs he featured for in that particular country. Enjoy it…

1. Brown Ideye: He is surprisingly Nigeria’s most traveled footballer and not Austin Okocha nor Nwankwo Kanu. The South Africa 2013 AFCON winner, played in 9 different countries during his career to make him number one on the list. Ideye featured in the ranks of top clubs like Neuchâtel Xamax in Switzerland, Sochaux in France, Dynamo Kyiv in Ukraine, West Bromwich Albion in England, Olympiacos in Greece, Tianjin Teda in China, Málaga in Spain, Göztepe in Turkey and Al-Yarmouk in Kuwait amongst others.

2. Benedict Akwuegbu: 

The “Austrian Bomber” Akwuegbu featured in about eight different countries during his illustrious career as a footballer. He played in countries like France where he featured for Lens. While in Belgium, he donned the colours of Waregem. In  Germany, he played for Siegen. Then he was in the pay roll of Grazer AK, Wacker Innsbruck while in Austria. In  China, he played for Tianjin Teda. He featured for St. Gallen in Switzerland, Panserraikos in Greece and Basingstoke Town in England to bring the total number of countries he played to 8.

3. Rashidi Yekini: The late legendary Yekini who till date remains the country’s all-time highest goals scorer and the player to score Nigeria’s first goal at the world cup, featured for clubs like African Sports in Cote D’Ivoire, Vitoria Setubal Portugal, Olympiacos  Greece, Sporting Gijon Spain, FC Zurich Switzerland, Bizerte Tunisia and Al- Shabab Saudi Arabia to bring the number of countries he played to 7. He is one country short of Akwuegbu to share joint third  position with the likes of Martins, West as Nigeria’s third most traveled footballer.

4. Obafemi Martins: “Obagol” as he is fondly refered by his numerous fans and admirers is one of Nigeria’s most traveled player behind Brown Ideye and Benedict Akwuegbu. The former Inter Milan of Italy star striker played for Reggiana, Inter Milan while in Italy. He was in the colours of Newcastle United during his time in England. VfL Wolfsburg in Germany, Rubin Kazan in Russia, Levante in Spain, Seattle Sounders in USA and Shanghai Shenhua in China to bring the total number of countries he featured in to 7.

5. Taribo West: Hard tackling West shares a joint third with Yekini and Martins as most traveled Nigerian footballer. West featured for Auxerre in France, Inter Milan, AC Milan in Italy, Derby County in England, FC Kaiserslautern while in Germany, Partizan Belgrade in Serbia, Al- Arabi in Qatar and Paykan in Iran to bring the number of counties he played in to 7, the same as Yekini and Martins.

6. Odion Ighalo: At the moment, Ighalo has featured in 6 different countries and still counting since he is yet to call it quit on his career to make him the fourth most traveled Nigerian footballer.  The striker played for Lyn Oslo in Norway, Udinese in Italy, Granada in Spain, Manchester United, Watford in England, Shanghai Shenhua in China and Al Shabab amongst others in Saudi Arabia.

7. Yakubu Aiyegbeni: The big “Yak” like Ighalo played in 6 different countries before he ended his career. He played in Portugal for Gil Vicente, Maccabi Haifa in Israel, Portsmouth, Everton in England, Guangzhou R&F in China, Al- Rayyan in Saudi Arabia and Kayserispor in Turkey.

8. Samson Siasia: He featured for Lokeren in Belgium, Nantes in France, Tirsense in Portugal, Al-Hilal in Saudi Arabia, Perth Glory in Australia and Hapoel Tzafririm in Israel to make him one of Nigeria’s most traveled player. He played in 6 different countries just like Ighalo and Aiyegbeni before he called time on his career.

9.  Richard Owobokiri: Ricky played for America RJ in Brazil, Victoria Setubal, Benfica in Portugal, Metz in France, Al-Arabi in Qatar and Al-Hilal in Saudi Arabia to bring the number of countries he featured in to 5. He’s another Nigerian footballer to have traveled far and wide.

10. Austin Okocha: Jay Jay played for Eintracht Frankfurt  in Germany, Fenerbahçe in Turkey, Paris Saint-Germain in France, Bolton Wanderers in England and Qatar SC in Qatar to bring the number of countries Okocha played to 5  to emerge as one of the most traveled Nigerian footballer. The greatly talented player who is one of the best in his generation had the capacity to have done more given his enormous talent.

House Of Reps To Review National Housing Fund Act       

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The Speaker of the House of Representatives, Hon Tajudeen Abbas says, in line with the current economy realities of Nigeria, the House would review the obsolete National Housing Fund Act of 1992.

He made the announcement while inaugurating the Ad-hoc Committee tasked with investigating the non-remittance of contributions to the National Housing Fund and utilisation of the Fund from 2011 till date.

The Speaker said that the scheme which was designed to ensure that Nigerians have access to affordable housing, has become obsolete hence the need for review.

“The National Housing Fund (NHF) represents a commitment to address one of the most fundamental needs of our citizens – affordable housing,” he said.

Established by the NHF Act of 1992, this scheme which was designed to ensure that Nigerians have access to affordable housing mandates all employers – in both the private and public sectors – to contribute 2.5% of their workers’ monthly earnings into this Fund.

” As you are aware, offending sections 20 & 21 of this Act has convicts liable to both fine and imprisonment.

” The House will look into this law which is obsolete now. From 1992 till date calls for a review. There are other issues that the House will inject to make it fit for purpose,” the Speaker noted.

” As a noble initiative rooted in the principles of collective responsibility,

the scheme identifies the critical need to ensure access to affordable housing by hard-working Nigerians, in order to bridge the housing deficit gap in the country.

” However, to become a reality, we all know it is crucial that the Fund is managed transparently, efficiently and in strict adherence to the law.

The House was therefore alarmed to receive allegations of non-remittance by employers and in other cases, mismanagement and misappropriation of the hard-earned salaries of Nigerian workers, by the administering institution. Abbas added.

Non-Remittance

The Speaker pointed out that it  was within this context that the House resolved  to investigate the alleged non remittance to the National Fund and critically review the utilisation of the Fund from 2011 to date.

“Thus, the mandate of this committee is a crucial one that resonates deeply with the well-being and aspirations of the Nigerian worker.

 ” Your task, as members of this Ad-Hoc Committee, is to shed light on

the utilization of these contributions, to ensure that the NHF fulfils its mandate to provide affordable housing solutions.

” The allegations of non-remittance are grievous, and we must uncover the truth, in order to hold those responsible accountable, and safeguard the interests of those who have diligently contributed to this Fund”.

He implored  the Committee to embark on the investigation with a profound sense of responsibility, “bearing in mind that the National Housing Fund holds the potential to transform the lives of countless hardworking Nigerians by providing them with the opportunity to secure affordable housing.”

Represented by the Deputy Speaker, Hon Benjamin Kalu, the Speaker advised the Members of the Committee to be guided by principles of fairness, equity, and diligence, saying “our mission is not only to uncover any irregularities but also to propose solutions that will strengthen the NHF and ensure it serves its intended purpose, while also preventing a reoccurrence of these issues”.

While expressing total confidence in the collective wisdom and dedication, also the expertise of the members of the Committee, the Speaker said “together, we have the power to protect the rights of Nigerians to affordable housing through the National Housing Fund, and we shall fight vigorously to so protect these rights.”

In his opening remarks, the Chairman of the Committee, Datchung  Bagos said that the committee hopes to assist the average Nigerian worker to have a house over their heads.

He said that the hearing was to get relevant input from stakeholders towards solving the housing needs of the Nigerian worker.

Hon Bagos urged Stakeholders to be forthcoming in their presentations and submissions.

“This hearing is to get needed input from relevant stakeholders on the issue at hand and to ensure that the challenges faced by Nigerian workers in the housing sector is reduced to its barest minimum if possible completely solved.

“As you are aware that the NHF Scheme was set-up by the Federal Government in 1992 to ameliorate the housing needs of Nigerian workers, both in the public and private sector as contained in Section 4 (1) of the NHF Act, which entitles all Nigerians above the age of 21 years and gainfully employed to access the loan with a very low interest rate.

“Part of the intention of the scheme was to create a very conducive environment for Nigerians especially workers within low and medium income range, designed in such a way that a certain percentage 2.5% from the monthly salary of every worker is deducted and remitted into an account with the Federal Mortgage Bank.”

“Despitethe efforts by successive governments, housing deficit in Nigeria is still high while contributors to the scheme still don’t have a roof on their head, more so, that the process of applying for the facility is stringent,” he lamented.

“You will recall that because of the inability of contributors to adequately benefit from the scheme both the Nigerian Labour Congress (NLC) and Nigeria Employers Consultative Association (NECA) directed its members to stop contributing to the scheme in the early year 2000”. Hon Bagos said.

He added that “as Legislators we are resolved to do due diligence to unravel any set back and to ensure that an average Nigerian worker and contributors benefits from the scheme.”

Major stakeholders in the housing sector made submissions on how to solve the housing challenge in Nigeria.

BRICS Summit: Putin Defends Russia’s War In Ukraine

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President Vladimir Putin has defended Russia’s war in Ukraine in his speech at the ongoing BRICS Leaders summit in South Africa.

Speaking by video link to the summit leaders, Putin said, “Our actions in Ukraine are dictated by only one thing to end the war that was unleashed by the West and its satellites against the people who live in the Donbas.

I want to note that it was the desire to maintain their hegemony in the world, the desire of some countries to maintain this hegemony that led to the severe crisis in Ukraine.”

The BRICS including Brazil, India, China and South Africa have taken on added importance for Moscow as it seeks to blunt Western sanctions by boosting trade with Asia, Africa and Latin America.

Russia has repeatedly said it is open to talks to end the 18-month war but only if they take account of the “new realities” created by its forces who control nearly a fifth of Ukraine.

Ukraine demands the restoration of all its territory and the removal of Russian troops.

BRICS Bank Okays 30% of $10b Loan in Local Currency

South African President Cyril Ramaphosa, who in June presented an African peace plan separately to Putin and Ukrainian President Volodymyr Zelenskiy, said in response to the Russian president’s speech that BRICS members would continue to support efforts to bring the conflict to an end.

Strengthening BRICS forms part of Russia’s vision of undermining U.S. dominance and building what Putin, in his speech, called “a multipolar world order”.

He was unable to attend the summit in person because of an arrest warrant issued for him in March by the International Criminal Court (ICC), accusing him of war crimes in Ukraine.

Russia rejected the accusation as outrageous and said the move had no legal meaning because it is not a member of the ICC.

South Africa is a member, however, meaning it would have been obliged to arrest him if he had travelled there.