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More Than 1,500 Ancient Artifacts Stolen At British Museum: Report

By
Koko Lawrence
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The number of items from the British Museum that are missing, stolen, or damaged totals more than 1,500, according to the Daily Telegraph.

While the museum has not released an official figure, photos, or descriptions of the items, the Telegraph said its sources told the UK publication that the true number of antiquities being investigated is well over 1,000—and perhaps “closer to 2,000.”

Some of the missing items, described by the museum as small pieces of “gold jewellery and gems of semi-precious stones and glass dating from the 15th century BC to the 19th century,” were not digitally catalogued by the museum, making their loss more difficult to track. The British Museum said the artifacts were kept primarily for academic and research purposes, and that none had been recently on display.

Read More: Smithsonian Secretary Apologizes After Human Brain Specimens Investigation

The Telegraph said the extent of the loss will “intensify calls for Hartwig Fischer, the British Museum director, to resign immediately,” rather than next year, as previously announced. The museum issued its press release about the missing, stolen, and damaged items on August 16, only a few weeks after director Fischer announced he would be leaving his position.

It also reported that museum deputy director Jonathan Williams “personally warned about the thefts in February 2021” but his position “is now untenable.”

Roman art expert Reverend Martin Henig said in an interview, “This is the worst case that I’ve come across like this because it involves not just selling the odd object, but also destruction. This is totally unforgivable.”

While the British Museum did not disclose which staffer was fired due to the discovery of the missing, stolen, and damaged items, the Greek antiquities curator Peter Higgs was identified by the Times of London and the Daily Telegraph.

Higgs is suspected to have taken uncategorized items and selling them on the e-commerce website eBay. One item worth $64,000 was offered for online auction for as little as $51 and listings for artifacts from the museum’s collection appeared online as early as 2016, according to reports.

While no arrests have been made yet in the investigation over the missing items, the British Museum’s press statement said it would be taking legal action against the former staff member and that the Metropolitan Police’s Economic Crime Command is also looking into what happened.

The museum’s statement also announced an independent review into its security protocols, which were already the subject of a scathing Sunday Times investigation in 2002.

 Google To Fast-track AI Adoption In Africa

By
Rhoda Onuzulike
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0

Google has unveiled the ‘Google for Startups Accelerator: AI First,’ as the effort to fast-track the adoption of Artificial Intelligence (AI) in Africa continues.

Google for Startups Accelerator: AI First is an initiative aimed at supporting African startups looking to use Artificial intelligence to solve local challenges. The programme recognises the transformative role that AI is playing across the world, innovating industries and reimagining the realms of possibilities. It also highlights the significant contributions of African startups in addressing some of the region’s most pressing challenges through the use of AI.

The ‘AI First’ programme is also aimed at supporting startups keen on delving into AI’s possibilities. It draws learnings from past initiatives such as the Google for Startups Accelerator: Africa, The Google for Startups Black Founders Fund, and The Google for Startups Accelerator: Women Founders, the primary aspiration remains consistent: to support and highlight African-driven solutions.

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Applications for the 10-week equity-free accelerator are now open, inviting startups up to series A stage based in Africa or building Africa-centric solutions with AI and machine learning. Participants will benefit from access to Google’s AI expertise, technical resources including up to $350k Google Cloud Credits, mentorship from seasoned AI professionals, and invaluable networking opportunities.

Speaking on the initiative, head of Startup Ecosystem, Africa, Folarin Aiyegbusi, said: “Africa’s tech landscape is vibrant and ever-evolving.

It is inspiring to see African startups not only harnessing AI to address our unique challenges but also setting benchmarks for the world. ‘AI First’ is more than a program; it’s a testament to our belief in the vision of these startups, ensuring they have the support and guidance they need to realise their full potential. Startups are invited to apply by September 6, 2023.”

Since inception in 2018, the Google for Startups Accelerator: Africa program has supported 106 startups from 17 African countries. Collectively, these startups have raised over $263 million in funding and created over 2,800 direct job opportunities in the region.

Nigeria Among Top 3 Countries With Highest Oil Discovery In 2023

By
Rhoda Onuzulike
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0

Nigeria has been named among three top countries in terms of highest oil reserves discovered owing to 2023 investments.

Others are Guyana and Namibia according to a research conducted by Rystad Energy.

Also, global spending on conventional oil and gas exploration will hit over $50 billion in 2023, according to an energy research company.

NNPCL Resumes Oil Production at Forcados Terminal

Upstream companies are strategically directing their investments towards offshore projects, focusing on lucrative regions that have a robust geological understanding.

Rystad Energy said 95 per cent of the total expenditure in 2023 is allocated to offshore initiatives.

“Upstream companies are facing a period of uncertainty. They are eager to capitalise on the increased demand for fossil fuels and find additional resources,” Aatisha Mahajan, vice president of upstream research, Rystad Energy, said in a report.

Global majors, including ExxonMobil, bp, Shell, TotalEnergies, Eni and Chevron, and National Oil Companies are expected to account for over half of the spending with the majors directing a total $7 billion in exploration projects in 2023.

But despite huge oil and gas deposits the Organisation of the Petroleum Exporting Countries (OPEC) said that Nigeria’s economic growth in the first quarter of 2023 (1Q23) stood at 2.4 per cent year-on-year (y-o-y).

OPEC made this known in its Monthly Oil Market Report for August.

OPEC said this was against a growth of 3.6 per cent in the fourth quarter of 2022, an indicator of 2023 anticipated slowdown.

According to the report, after Nigeria’s economy grew by 3.3 per cent in 2022, it is forecast to decelerate in 2023.

It said high inflation continued to burden Nigeria’s economy.

“Inflation data for June shows an ongoing acceleration, with an annual rate of 22.8 per cent y-o-y, following 22.4 per cent y-o-y in May and 22.2 per cent in April and 22 per cent in March.

“Food inflation has been a key factor in this rise, reaching 25.1 per cent year-on-year (y-o-y) in June, after 24.8 per cent y-o-y in May.

“A combination of factors including conflict, the impact of climate change, population pressures, and the below-average output of the agricultural sector, exacerbated the scarcity of food resources over recent years,’’ it said.

To assist, it said, the Nigerian government had unveiled a comprehensive financial package amounting to N500 billion.

To lower inflation, the report said the Central Bank of Nigeria (CBN) lifted the key policy rate by 25 basis points to 18.75 per cent in July.

As a consequence of the ongoing challenges, it said, in May 2023, Stanbic IBTC Bank Nigeria Purchasing Managers Index retracted to stand at 51.7 in July, after a level of 53.2 in June was reached.

This follows observation by the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, that the country’s crude oil production dropped by 12.56 per cent in July to 1.29 million barrels daily from 1.48 million barrels daily in June.

According to the NUPRC, one of the reasons for the decline was the temporary shutdown of the Forcados terminal, which Shell, the operator, said in mid-July on suspicions of a leak.

The Forcados sees loadings of an average of 220,000 barrels daily but on July 12 workers in the area saw fumes near a vessel that was being loaded with crude. The repairs work on the terminal was expected to be completed by the end of the first week of August but as of the middle of this week, Forcados remained shut down.

Earlier this year, the commission warned that Nigeria is producing one million bpd of crude less than it has the capacity to produce.

The agency cited a lack of investments, a shortage of funding sources because of the energy transition, and insecurity among the factors driving the situation.

“Currently, Nigeria has the technical allowable capacity to produce about 2.5 million barrels of oil per day.

However, arising from the highlighted challenges, our current production hovers around 1.5 million barrels of oil and condensate per day,” the chief executive of the body said in May.

To remedy matters, Nigeria, earlier this month, announced the pending launch of a roadshow to pitch upstream investments in the country.

“Whereas the global imperatives for energy transition is clear and justified, the need for Africa’s energy security, economic development and prosperity cannot be overemphasised,” the Nigerian regulator, which is organising the roadshow, said.

According to a senior Petroleum ministry official, Nigeria is looking to boost its oil production to 1.7 million barrels daily by November this year.

Equally, the Nigeria Extractive Industry Transparency Initiative (NEITI) said, Nigeria lost over 619.7 million barrels of crude oil valued at $46.16billion or N16.25 trillion from 2009 to 2020 from theft and sabotage.

Executive secretary of NEITI, Dr. Ogbonnaya Orji, who presented the report as a part of his remarks at the Stakeholder’s roundtable for the review and approval of NEITI Audit Reports in Abuja said: “In addition, NEITI reports have disclosed that Nigeria lost over 619.7 million barrels of crude oil valued at $46.16 billion or N16.25 trillion from 2009 to 2020 from theft and sabotage. This amounts to losing over 140,000 barrels of crude valued at $10.7 million daily.”

Smithsonian Secretary Apologizes After Human Brain Specimens Investigation

By
Koko Lawrence
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0

Smithsonian secretary Lonnie G. Bunch III has responded to a report on on his institution’s collection of human brain specimens, which found that the majority had been gathered without consent.

The year-long investigative report was published by the Washington Post on August 14. According to reporters Nicole Dungca and Claire Healy, researchers often preyed on people who were “hospitalized, poor, or lacked immediate relatives to identify or bury them.”

“In other cases,” the reporters wrote, “collectors, anthropologists and scientists dug up burial grounds and looted graves.”

The majority of the human remains in the Smithsonian were collected under the supervision of anthropologist Ales Hrdlicka, the Smithsonian’s head of physical anthropology for four decades, starting in 1903. Hrdlicka was a longtime member of the American Eugenics Society, collected thousands of body parts, including hundreds of brains, a pursuit focused on the remains of Indigenous people and people of color for what Bunch called “scientific evidence of white superiority.”

Read More: Serena Williams Gives Birth To Second Child, Names Her Adira River

Bunch’s op-ed, published in the Post on August 20, cited his experience as a historian and acknowledged that the Smithsonian is “grappling with a legacy once deemed acceptable but that is so clearly ethically wrong today.”

“The Post’s recent coverage regarding the human remains still housed in our collections is certainly illustrative of the Smithsonian’s darkest history,” Bunch wrote. “This is our inheritance, and we accept the responsibility to address these wrongs to the fullest extent possible.”

Bunch’s apology also called the collection of human remains at the US National Museum, now known as the Smithsonian Institution National Museum of Natural History, “abhorrent and dehumanizing.” He acknowledged that this was “carried out under the Smithsonian’s name.”

“As secretary of the Smithsonian, I condemn these past actions and apologize for the pain caused by Hrdlicka and others at the institution who acted unethically in the name of science, regardless of the era in which their actions occurred.”

While Bunch said the Smithsonian has been repatriating objects and human remains from its collections prior to the passing of the National Museum of the American Indian Act in 1989, he also noted that the institution is still in the process of developing a policy that would address the future of all human remains, through a specific task force established earlier this year.

“Our forthcoming policy will finally recognize these remains not as objects to be studied but as human beings to be honored,” Bunch wrote. “It is a long-overdue shift, and I regret that human bodies were ever treated with such disrespect at our institution.”

The Post’s investigation also highlighted specific cases of brains coming from Indigenous Filipino individuals that were brought to the 1904 World’s Fair in St. Louis. Bunch wrote in his op-ed that the Smithsonian was in discussions with the Philippine government and the National Museum of the Philippines on the future of those human remains.

Notably, Bunch said it was critical that the Smithsonian “let the wishes of each community steer the process” of repatriation as part of a commitment to “interrogating and dismantling the racism that inspired these collections in the first place,” even with any accompanying legal and logistical challenges.

“Museums and universities throughout the world are contending with their own human remains collections. We are determined to be at the forefront of a long-overdue reckoning about ethical returns and repatriation.”

FAAC Shares N966.110bn To Federal Govt, States, LGAs

By
Rhoda Onuzulike
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0

The Federation Account Allocation Committee (FAAC) has shared a total sum of N966.110 billion July 2023 revenue to the federation account among the three tiers of government.    

The N966.110 billion total distributable revenue comprised distributable statutory revenue of N397.419 billion, distributable Value Added Tax (VAT) revenue of N271.947 billion, electronic money transfer levy revenue of N12.840 billion and exchange difference revenue of N283.904 billion.

According to a statement that was issued by the director of information in the Office of Accountant-general of the Federation, Bawa Mokwa, the meeting was chaired by the minister of finance and coordinating minister of the economy, Wale Edun.

In July 2023, the total deductions for cost of collection were N62.419 billion and total deductions for savings, transfers, refunds and tax credit cancellation was N717.962 billion.

The balance in the Excess Crude Account (ECA) was $473,754.57.

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The communiqué stated that from the total distributable revenue of N966.110 billion; the federal government received N374.485 billion, the state governments received N310.670 billion and the local government area received N229.409 billion. A total sum of N51.545 billion was shared to the relevant States as 13 per cent derivation revenue.

Gross statutory revenue of N1.150 trillion was received for the month of July 2023. This was lower than the sum of N1.152 trillion received in the month of June 2023 by N2.497 billion.

From the N397.419 billion distributable statutory revenue, the federal government received N190.489 billion, the state governments received N96.619 billion and the LGAs received N74.489 billion. The sum of N35.822 billion was shared to the relevant States as 13 per cent derivation revenue.

For the month of July 2023, the gross revenue available from the VAT was N298.789 billion.  This was higher than the N293.411 billion available in the month of June 2023 by N5.378 billion.  

The federal government received N40.792 billion, the 36 state and Federal Capital Territory received N135.974 billion and the local governments received N95.181 billion from the N271.947 billion distributable Value Added Tax (VAT) revenue.

The N12.840 billion electronic money transfer was shared as follows: the federal government received N1.926 billion, states and FCT received N6.420 billion, while LGAs received N4.494 billion.

From the N283.904 billion exchange difference revenue, the federal government received N141.278 billion, subnational governments received N71.658 billion, the LGAs received N55.245 billion and the sum of N15.723 billion was shared to the relevant states as 13 per cent mineral revenue.

Serena Williams Gives Birth To Second Child, Names Her Adira River

By
Koko Lawrence
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0

Tennis great Serena Williams has given birth to her second child, a girl named Adira River Ohanian.

Along with husband Alexis Ohanian, she welcomed the new arrival in social media posts on Tuesday.

“Welcome my beautiful angel,” Williams wrote in the caption of a video posted on TikTok.

The video shows her, Ohanian and their four-year-old daughter Olympia embracing the new-born.

“I’m grateful to report our house is teeming with love: a happy and healthy new-born girl and happy and healthy mama. Feeling grateful,” Ohanian posted on social media.

Read also: Stephanie Linus Emerges Chairperson Of Oscars Submission Committee

The 23-time Grand Slam champion, who said she was “evolving away” from tennis after last year’s U.S. Open, had confirmed news of her pregnancy in May. That was on the red carpet of the Met Gala in New York.

The announcement of baby number two has now made a return to competitive tennis to appear highly unlikely for 41-year-old Williams.

She is one of the most decorated athletes ever to pick up a racket.

Equities Market Extends Gains By N157bn

By
Rhoda Onuzulike
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0

The Nigerian equities market Tuesday extended its positive sentiments as sustained interest in BUA Foods Plc and 15 others drove the overall capitalization N157 billion higher.

The All-Share Index (ASI) gained 287.92 points, representing a gain of 0.44 per cent to close at 65,488.67 points. Also, market capitalisation rose by N157 billion to close at N35.842 trillion.

The upturn was driven by price depreciation in large and medium capitalised stocks amongst which are; BUA Foods, Guinness Nigeria, NASCON Allied Industries, Dangote Sugar Refinery and Chemical and Allied Products (CAP).

Nigerian Equities Market Rebounds By 1.62% Profit

As measured by market breadth, market sentiment was negative, as 26 stocks lost relative to 16 gainers. Cornerstone Insurance emerged the highest price gainer of 9.84 per cent to close at N1.34, per share.  Computer Warehouse Group followed with a gain of 9.74 per cent to close at N4.28, while SCOA Nigeria advanced by 9.38 per cent to close at N1.40, per share.

Associated Bus Company rose by 8.33 per cent to close at 52 kobo, while BUA Foods appreciated by 7.91 per cent to close at N165.00, per share.

On the other side, Chellaram, SUNU Assurance and Nigerian Breweries led others on the losers’ chart with 10 per cent each to close at N3.96, 72 kobo and N38.25 respectively, per share. John Holt followed with a decline of 8.81 per cent to close at N1.45, while Mutual Benefits Assurance shed 6.82 per cent to close at 41 kobo, per share.

The total volume of trade increased by 26.7 per cent to 293.46 million units, valued at N4.12 billion, and exchanged in 5,895 deals. Transactions in the shares of Transnational Corporation (Transcorp) led the activity with 41.442 million shares worth N185.043 million. Access Holdings followed with an account of 36.158 million shares valued at N616.420 million, while Fidelity Bank traded 32.105 million shares valued at N229.733 million.

Omatek Ventures traded 15.007 million shares worth N4.293 million, while Ecobank Transnational Incorporated (ETI) traded 13.201 million shares worth N208.480 million.

Power Minister Promises To Fix National Grid, Others

By
Rhoda Onuzulike
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0

The minister of Power, Adebayo Adelabu, has promised to meter all households in Nigeria and fix the challenges affecting the national grid.

Adelabu stated this during his inaugural address after President Bola Ahmed Tinubu swore him in on Monday, August 21.

During his inaugural speech, Adelabu said his vision for the Ministry of Power is rooted in leveraging the Nigerian Electricity Act of 2023 which has opened new avenues for power provision and encourages collaboration between public and private sectors.

Adelabu vowed to fix the numerous challenges associated with the national grid and pay attention to the option of renewable energy

Adelabu promised to fix electricity challenges  “A significant goal is the universal metering of households and addressing the challenges our national power grid faces. We will equally pay critical attention to the options of renewable and alternative energies.”

He disclosed that his vision for the Ministry of Power is rooted in leveraging the Nigerian Electricity Act of 2023. Adelabu said the Ministry of Power under his leadership will foster robust partnerships between the private and public sectors and build upon the foundation laid by his predecessors.

“We will build upon the foundation laid by our predecessors and diligently work to fulfill the aspirations of our fellow citizens. Our aim is to empower Nigerians through reliable and accessible power, ensuring that every home, industry, school and business benefits from our efforts.

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“Our aim is to empower Nigeria through reliable and accessible power, ensuring that every home, industry, school, and business benefits from our efforts.”

The former deputy governor of the Central Bank of Nigeria (CBN) further stated technology and talented youths will be leveraged to achieve the desired objectives. “As much as possible, we would leverage the power of technology and the bursting energies of our talented youths to achieve our desired objectives.”

The minister stated that “Key to our success will be an unwavering dedication to efficiency and collaboration. We will foster robust partnerships between the private and public sectors, working collectively to enhance the nation’s economic and social well-being. Our focus will extend to aspects of life that truly matter: from households to small businesses, educational institutions to massive industrial productions, and beyond.”

“As much as possible, we would leverage the power of technology and the bursting energies of our talented youths to achieve our desired objectives. This would be pursued by ensuring robust handshake between the Ministry’s ICT apparatus and the emerging technological ideas of young Nigerians to accelerate the envisaged transformation. Through this, we are convinced we will deliver services that would match the speed and values that the 21st century economy demands

Stephanie Linus Emerges Chairperson Of Oscars Submission Committee

By
Koko Lawrence
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0

Popular actress and filmmaker, Stephanie Linus, has been announced as the chairperson of the Nigerian Official Selection Committee for the Best International Feature Film category of the prestigious Academy Awards, popularly known as the Oscars.

Recall that the founder and former chairperson of the committee, Chineze Anyaene-Abonyi, recently stepped down from the position.

The newly reconstituted members of the NOSC also include the Managing Director of the Nigerian Film Corporation, Chidia Maduekwe; the President of the Directors’ Guild of Nigeria, Victor Okhai; veteran actress, Omotola Jalade-Ekeinde; former President of DGN, Andy Amenechi; theatre practitioner, Yibo Koko; and a writer and director, Izu Ojukwu.

Other members are cinematographer, Adetokunbo Odubawo, aka DJ Tee; filmmaker, Emem Isong; director Dimeji Ajibola; writer and director, Jude Idada; director John Njamah; actress, Meg Otanwa; and Ngozi Okafor.

The new team will be responsible for collecting, screening, and voting on entries to represent Nigeria in the IFF category.

In a statement, it was stated that the new members would bring their diverse creative portfolios into the dynamics of selecting the best film from Nigeria for the IFF category.

The IFF (formerly known as the Best Foreign Language) Award is presented annually by the Academy to a feature-length film produced outside the United States that contains 50 per cent or more of non-English dialogue.

The Oscars also requires that submitted films must meet other criteria, including accurate English subtitles, shooting formats, and theatrical releases.

Budget Minister Promises Strict Project Monitoring

By
Rhoda Onuzulike
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0

Minister of Budget and Economic Planning Atiku Bagudu has said his agenda for office would be anchored on President Bola Tinubu’s ‘Renewed Hope’ agenda for sustainable economic development and democratic governance, while also outlining the key priorities of his administration.

Bagudu said he will give special emphasis to key priorities that are critical to the delivery of the promise of President Tinubu to deliver economic growth and improve the livelihood of all Nigerians.

The areas of focus include harmonisation of planning frameworks, alignment and prioritisation of medium-term development plan, presidential priorities and targets, campaign manifesto delivery with sector medium term strategic report in line with the Sustainable Development Goals (SDGs).

Speaking at his first media briefing at the headquarters of the ministry budget and economic policy in Abuja tuesday, Bugudu said under his leadership, the ministry will also promote the agreement with implementing MDAs on strategies and work plan to actualise and harmonise plans. “These agreed sector plans become the basis of the work with the budget office of the Federation and the respective MDAs to evolve a national budget.”

Bagudu told journalists that his ministry will find mechanisms of lowering the cost of monitoring and evaluation of government projects to ensure standardisation and efficiency of service including the use of technology and involvement of stakeholders, including the use of people from host communities where government projects are cited to monitor the projects.

He also promised to promote vertical harmonisation of plans between the federal government, states and indeed, other sub-nationals through the platform of the joint planning board, the National Economic Council and to also propose mechanisms that will foster cooperative planning.

The former Kebbi State governor promised to ensure there is a better linkage between economic policy development and implementation as provided in line with the mandate of the ministry as part of the plan to engender economic development. “Where there is inadequacy we propose changes, which I believe might lead to having appropriate legislation or additional clarity in mandate such that policy and implementation are linked to ensure more effective delivery,” the new minister said yesterday.

He also promised to propose an agenda of a national synergy between all tiers of government for easy and effective implementation of national plans “because we are all serving one federation – indivisible, united federation. We will start with attitudinal change; knowing that we have the support of the president.”

The minister said a new framework for coordinated planning and budgeting roles within MDAs that is operationally linked to the Ministry of Budget and Economic Planning is beginning to emerge with the adoption of a plan-linked budgeting system in the preparation of future budgets of the federal government.

To optimise the gains of the policy, he said the Ministry of Budget and Economic Planning needs to develop appropriate institutional frameworks to effectively operationalise the emergence of the National Planning Commission and Budget Office of the Federation.

The national planning minister stated that the National Bureau of Statistics (NBS) , during his tenure, would develop a clear measurable road map to a re-alignment of the National Statistical System (NSS) to achieve sector targets and SDG’s milestones.

He said the newly approved Social Protection Policy under the ministry would be given special attention in order to assuage the growing challenges of poverty and access to improved conditions of livelihood in its implementation. “We will pay special attention to social inclusion, welfare and the cardinal responsibility of states and local governments as vehicles of outreach to the citizens.”

Permanent secretary of the ministry Nebeolisa Anako said the appointment and deployment of Senator Bagudu to the ministry portends visible prospects for it in particular and the country at large.

He expressed the hope that the new minister would bring on board his wealth of experience, having served in several public offices for the enhancement of the budgetary processes of the federal government.

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