The police say they have commenced the processes for the extradition of the former chairman of the defunct Pension Reform Task Team, Abdulrashid Maina, who was arrested in Niamey, Niger Republic on Monday. He was apprehended through the joint efforts of the Nigeria Police Force, INTERPOL National Central Bureau, Abuja and their Nigerien counterparts. Maina is currently in a detention facility in Niger Republic awaiting the completion of the extradition processes. Force spokesman, DCP Frank Mba in a statement on Tuesday, said the police were perfecting the paperwork for the repatriation of the fugitive from Niger where he fled in a bid to escape justice. It explained that Maina would soon be brought back to the country to continue with his ongoing trial. The former Ministry of Interior director is being prosecuted on 12 counts of money laundering to the tune of ₦2 billion by the Economic and Financial Crimes Commission. He had jumped bail forcing the trial judge, Justice Abang Okon, to issue an arrest warrant against him. He was said to have stopped attending his trial since 29 September, prompting Justice Abang of the Federal High Court, Abuja to order the remand of his surety, Senator Ali Ndume penultimate Monday. The court granted bail to the Borno South Senator last Friday.
The FG has inaugurated a nine-man Special Ministerial Task Force on Monitoring and Enforcement of Nigerian Expatriate Business Permit and Expatriate Quota Administration in the country. The task force was expected to complete its assignment in 180 days. Interior Minister, Rauf Aregbesola, who inaugurated the task force in his office in Abuja on Tuesday, said that it became necessary because there has been abuses and gross violations of the expatriate quota policy by foreign investors. Mr Aregbesola said the expatriate quota policy was aimed at encouraging foreign investors to “invest in our economy and also bring with it high-level manpower development and ensure technology transfer in the country if the grooming of Nigerian understudies is done in good faith.” He stated, “This policy attracts investments in our economy and also brings with it high-level manpower development and ensures technology transfer if the grooming of Nigerian understudies was done in good faith.” According to ministry spokesman, Mohammed Manga, the economic boost this would generate will lead to wealth creation, national self-reliance and will provide jobs for the youths. He regretted, however, that there have been abuses and gross violations of the policy, noting that companies were employing expatriates without approval from the ministry; obtaining fake permits for their expats; not grooming Nigerian understudies and recruiting fewer than required understudies and giving them non-commensurate remuneration.
Candidates of All Progressives Congress have won all the positions in the 27 Local Government Areas of Borno, the State Independent Electoral Commission declared on Tuesday. Announcing the results of the election in Maiduguri, the Returning Officer for the election and the Executive Chairman of BOSIEC, Abdu Usman, also said that one of BOSIEC’s officials died during the election. He said “a vehicle conveying logistics materials to one of the local government areas of northern Borno had an accident. The commission lost one of its staff.” He said candidates of the ruling party won all 27 chairmanship as well as all councilorship seats in last Saturday’s local government elections. He said the party won 18 chairmanship positions unopposed and no party contested most of the councilorship seats with the ruling party. He noted that as at the time of announcing the results, no political party has forwarded any complaints.
Almost a quarter of family-owned businesses in Africa could be sold in the next three years, further worsening the probability of passing the business to the next generation. The latest Family Business Barometer by KPMG shows that the majority of those wanting to sell preferred doing so to a third party, whereas a few considered listing the business on a stock exchange. The need to dispose of family-owned businesses have been accelerated by social-economic challenges brought about by coronavirus. More than 50 percent of respondents sampled in the continent including Kenya said they are feeling challenged in the current tough economic environment but are adapting to the new reality. At least 19 percent of respondents said it is business as usual while eight per cent reported that their businesses had actually been able to take advantage of opportunities presented by the crisis. This comes just a year after another survey by Deloitte and PWC revealed that about 60 percent of wealth in family businesses are lost in Africa due to improper structures and failures by owners to put in place succession plans. The need to dispose of family-owned businesses have been accelerated by social-economic challenges brought about by coronavirus. More than 50 percent of respondents sampled in the continent including Kenya said they are feeling challenged in the current tough economic environment but are adapting to the new reality. Approximately 64 percent of respondents reported that they had a business continuity plan in place to deal with a crisis. In both Kenya and Ghana the majority of family businesses reported having a business continuity plan in place, whereas only 50 percent of respondents from Africa’s two largest economies, Nigeria and South Africa, had a plan in place.