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All Bottlenecks Will Be Crushed – Tinubu Assures Investors In Saudi

President Bola Ahmed Tinubu, on Saturday, in Riyadh, Saudi Arabia, said all negative perceptions about doing business in Nigeria would be removed.

Lifestyle Nigeria reports that the President stated this during a meeting with the Captains of the Saudi Arabian Industry at the Nigeria-Saudi Investment Roundtable.

He said that with the new cabinet members, Nigeria was now ready for business, adding that these are parts of the Renewed Hope Agenda.

Tinubu said that the new administration was tackling headlong the wrong notions with respect to the ease of doing business, monetary policy, and trade cooperation.

“I believe in this team that I have brought from Nigeria. When I took office, I declared the immediate commencement of bold and fundamental economic reforms. We have executed them, and we sustain the reform process. Today, I declare that red tape is gone!

“I believe in the full application of free market economics. Your money will flow easily in and easily out. The arbitrage around our nation’s old foreign exchange policy regime and the corruption that was associated with it is also gone!

“We took on those bold endeavours from day one in preparation for serious investors like you seated here. The greatest opportunity for any entity to prosper lies in its human capital. My team is prepared. We can produce. Our market is full of Nigerian youths who are brilliant, highly educated, industrious, and passionate about innovation and engagement with world-class services.

“The navigation of the ship of this great nation lies in the membership seated here. We are ready to answer all of your questions directly, even into this night if need be. The sky is not just the limit, but it is the destination for our two countries and peoples,” the Nigerian President confidently affirmed.

Saudi Arabia’s Trade and Investment Minister, Kahlid El-Falih, noted the passion and candid expression of the Nigerian leader, saying that after listening to the President speak from his heart without any written remarks about what is possible between the two nations, Nigerians can expect that the Saudi investment community will respond not in words alone, but with substantial new investment across several sectors of the Nigerian economy.

“The Minister of Commerce and I will be visiting Nigeria either before the end of this year or very early next year with a very large delegation of Saudi CEOs from all key sectors. We know you are ready for business, so we do not want to come to Nigeria for any exploratory discussion. We are coming for implementation. It is an action visit.

“Mr. President, you agree with me that good intentions alone will not take us anywhere, so we will prepare well with your team and our investors will align with your officials, beginning now, to develop a concrete work plan of investments in the key sectors for takeoff when we meet again. When we meet soon in Abuja, it will be to sign and begin delivery on all agreements. We will also use the opportunity to formally inaugurate the Nigeria-Saudi Business Council.

Saudi Arabia’s Commerce Minister, Majid bin Abdullah Al Qasabi, previewed how Saudi Arabia can further contribute to the soft infrastructural reforms needed to unlock game-changing quantums of foreign direct investment in Nigeria.

“We have signed an agreement with the World Economic Forum on the reform of the services sector in Africa. In developed economies, the services sector contributes enormously to GDP. But in the developing world, we tend to focus on goods. So, we would like to make Nigeria the pilot country in this agreement with WEF to study Nigeria’s service challenges to make it seamless and make the supply chains across sectors streamlined and raised to international standard to enhance Nigeria’s economic and investment viability over the long-term,” he stated.

Chairman of Dangote Industries, Alhaji Aliko Dangote told Saudi investors that Nigeria, under the leadership of President Bola Tinubu, will be unearthed to the world as a foremost global investment haven.

“What I always say about Nigeria is that it is the world’s best kept secret in terms of investments and returns. We are also looking to ensure that our investments are a two-way process. Nigerian companies have a lot of value to add to the Saudi economy, and we look forward to working together in expanding our Nigerian operations as well. The soon coming launch of the Nigeria-Saudi Business Council will be a huge opportunity for both countries to expand on what has been established here.

At the Investor Roundtable, dozens of Chief Executive Officers from several Saudi conglomerates specializing in construction, finance, new and traditional energy, healthcare, agriculture, electric power, mining, aviation, telecommunications, creative arts, and hospitality were present and made their exploratory pitches to President Tinubu on areas of tangible collaboration.

In his response, Tinubu said: “I have listened to all of you very intently, and I am not only impressed, but I am determined to be your partner in progress and prosperity. Nigeria will reward your faith. Our people are ready, and we will not disappoint,” President Tinubu concluded.

The Nigerian government delegation comprised of the Executive Governors of Bauchi, Niger and Katsina States; Minister of Finance & Coordinating Minister of the Economy, Mr. Wale Edun; Minister of Budget & Economic Planning, Sen. Abubakar Bagudu; Minister of Industry, Trade & Investment, Dr. Doris Uzoka-Anite; Minister of Communications, Innovation & Digital Economy, Dr. Bosun Tijani; Minister of Agriculture, Sen. Abubakar Kyari; Minister of Humanitarian Affairs & Poverty Alleviation, Dr. Betta Edu; and Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri.

The Nigerian business delegation comprised of the Chairman of Dangote Industries, Alhaji Aliko Dangote; Chairman of the Chagoury Group, Amb. Gilbert Chagoury; President of Flour Mills Nigeria, Mr. John Coumantaros; CEO of Oando Energy Company, Mr. Wale Tinubu and many others.

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FAKE NEWS ALERT: Herbert Wigwe’s Father Did Not Slump

Sources have confirmed that Herbert Wigwe’s father, Pastor Shyngle Wigwe, did not slump during the funeral of his late son.

Some sections of the media, not Lifestyle Nigeria had published that the father of the late Chief Executive Officer of Access Bank, Herbert Wigwe, collapsed during his son’s funeral service at Isiokpo in Ikwerre Local Government Area of Rivers state.

The sections of the media reported that Pastor Shyngle Wigwe, who is in his 80s, was slumped following the shock of his billionaire son, Wigwe; daughter-in-law, Chizoba, and grandson, Chizzy. They died in a helicopter crash in the US on Saturday, March 9.

However, a credible police source who spoke to VANGUARD dismissed the wild news outrightly, saying that Wigwe’s father was “Hale and hearty”.

The source added, “Even the Senate President (Godswill Akpabio) met and prayed for him.

“The story of Pa Wigwe’s collapse is totally false. We should allow the family to mourn its dead and not add to the pain by writing false stories.”

The remains of the deceased have been interred at a private cemetery within the Wigwe University premises in Isiokpo.

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Group Launches Fact-Checking Platform To Counter Fake News 

Lifestyle Nigeria gathered that a group concerned with socioeconomic development in Africa has launched an Artificial Intelligence (AI)-powered fact-checking platform to counter the spread of misinformation and disinformation on the continent.

Speaking at the unveiling of the AI-powered platform, named, ‘MyAIFactChecker’ on Monday in Ilorin, the Global Director of a Nigeria-based non-profit organization, Brain Builders Youth Development Initiative (BBYDI), Abideen Olasupo, said that FactCheck Africa, an initiative of the BBYDI, was launched in 2022 as an independent, non-partisan and non-profit fact-checking platform for Africans.

“MyAIFactChecker was a product of months of dedicated effort and research, with support from BECERA and the US State Department, noting that the initiative would revolutionise how Africans verify news and other online information.

“MyAIFactChecker is a demonstration of our organization’s unwavering commitment to combating the scourge of misinformation, disinformation, and fake news, thereby safeguarding the integrity of information. This platform leverages cutting-edge AI technology, is user-friendly, and allows you to verify the authenticity of news, social media posts, and other online content quickly and conveniently.”

Olasupo also said that the innovative platform would provide users with a range of functionalities, including a chatbot interface, feedback mechanism, and voice search capability that is available in English, Swahili, French, Arabic, and several popular local languages in Nigeria.

According to him, the launch of MyAIFactChecker comes at a critical time, as the proliferation of disinformation and harmful content continues to pose significant threats to the integrity of elections, democracy, public health, and stability in African nations.

The BBDYI global director, who said the impact of fake news and disinformation on elections could not be waved, expressed optimism that his organisation’s newly introduced AI fact-checking would help combat the spread of disinformation in African nations preparing to hold elections this year.

“It is worthy to note that 2024 is a year of elections in Africa as about 24 countries on the continent will hold elections this year.

During electioneering periods, there is always a proliferation of fake news, and its attendant consequences could negatively impact the electoral process.

With the launch of MyAIFactChecker, we are poised to curb the spread of misinformation and disinformation before, during, and after elections in these affected countries.

“We believe that access to accurate information is a fundamental right, and we are dedicated to empowering individuals with the tools to discern truth from falsehood in this digital age. We will continue to promote media literacy and critical thinking across Africa,” he said.

Olasupo, who said that he attended the 2024 United Nations ECOSOC Youth Forum held in New York last week, added that he spoke on ‘The ethical use of AI and its implications for education in Africa’, saying that his organisation would continue to push for policies around the ethical use of AI in Nigeria and Africa as a whole to maximise its benefits and mitigate its risks.

He lauded Nigeria’s Minister of Communications, Innovation and Digital Economy, Bosun Tijani, for spearheading the initiative to deliver a comprehensive Artificial Intelligence Strategy for the country, stressing that such endeavour was crucial in positioning Nigeria to effectively leverage AI for national development.

“In recognition of the immense potential of AI in addressing societal challenges, BBYDI will continue to advocate for policies and ethical frameworks to guide the deployment of AI technologies across Africa. It is imperative that we harness the power of AI for the collective good of our society,” he noted.

Earlier in his address, the Head of Programmes at FactCheck Africa, Habeeb Adisa, said the introduction of the innovative AI solution “represents a significant advancement in our stride to fight the dissemination of fake news that continues to undermine societal trust and cause discord among people.

“Our platform is designed to cater for a diverse linguistic landscape across the continent. Users can simply enter a new query, and our platform will provide them with an assessment of the article’s authenticity. It will also let them know if it’s credible, partially credible, or unreliable.”

He also disclosed that FactCheck Africa had launched a 3-month AI Journalism Fellowship for journalists in West Africa. According to him, the fellowship is a comprehensive training programme that will equip selected journalists with the knowledge, skills, and ethical considerations needed to navigate AI in journalism.

Also speaking, the Executive Director of BBYDI, Nura Jimoh, stated that the unveiling of MyAIFactChecker reinforced the commitment of their organisation to leverage tech solutions and digital tools to address societal challenges.

She recalled that BBYDI last year, in collaboration with Christian Aid, organised the first CivicTech Hackathon in Nigeria to address voter apathy and encourage increased citizens’ participation in the electoral process.

“We also launched evit.ng to track and report violence pre and post-election. We also unveiled conflictreport.org to curb the farmer-herders crisis in the northern part of the country.

“Additionally, we introduced KnowCovid19NG with support from the US Embassy to flatten the curve and provide psychosocial support during the COVID-19 pandemic. Two years before the 2023 general elections, we launched Yvotenaija.org to promote civic education across grassroots communities and on various social media platforms,” Jimoh remarked.

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How 17-Year-Old Hacker Stuns EFCC Chairman With Impressive IT Skills 

 

Lifestyle Nigeria gathered that the Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, narrated an incident where a 17-year-old successfully hacked into his personal computer and bank account while being interrogated at his office in Lagos.

The anti-graft agency chairman made this known in a chat with editors at the EFCC Headquarters, Jabi, Abuja, last Tuesday.

Olukoyede recounted inviting the 17-year-old for questioning at his own office, only to witness the young hacker effortlessly bypass the security measures of his locked computer right before his eyes.

He said, “I brought into my Lagos office a seventeen-year-old boy who is studying History and Anthropology. He is in the 200 level. He is not doing anything science-related. The guy sat in my office in Lagos and demonstrated some things to me on my laptop.

“He asked for my number, I gave him my number and through my number, he got my BVN. He then mentioned the name of my account number to me at the bank. I didn’t tell him anything.”

According to him, the country must take all necessary measures to discourage these young individuals, as their actions could lead to imprisonment or even fatal consequences.

“The problem is, I see crime in that, and I also see opportunities in it. So, if you leave these guys, we don’t make them know that what they are doing is wrong, if you leave them, they will continue to see it as a way of life to make money.”

He mentioned that due to their young ages, the EFCC would administer light sentences to punish youths for the cybercrimes they committed, while also focusing on helping them change their orientation.

“We plead for light sentences so that we can reorientate them and that’s part of what we’re doing. What joy will I derive from sending a 17-year-old boy to jail? You have destroyed his future. You have destroyed his career.

“Sometimes they give them options of fines and all of that conviction, so we bring them in, lecture them and talk to them.”

In a bold demonstration of his skills, the boy confidently informed Olukoyede that he could transfer up to 10 million naira from any account in a single transaction.

He said the 17-year-old boy, when he was done, said, “Look, oga, I can make 10 million now. I will demonstrate it to you. I will move money from your account to mine.

“I said no, don’t do that in my office and he was ready to do that. When he opened my laptop, I didn’t give him the key to my laptop and he had access.

When questioned about his involvement in cybercrime, the boy explained that his parents, who are both farmers, were unable to work on their farm due to security concerns.

“He has two younger ones. One is in JSS2 and the other is in SSS2. He is the one feeding his parents and responsible for the payment of tuition for his younger ones.

“I saw a Bill Gates in that guy.”

Olukoyede, however, assured the boy that he would take responsibility for his schooling if he was able to stop the criminal act.

“I told my family, we are going to do that.

“I spoke to one of my friends who is also ready to help take up the schooling of the SSS 2 guy. So I’m still looking for someone who will take up the one for the JSS 2 sibling.”

This is not the first time the EFCC chairman has revealed the anti-graft agency’s plan to rehabilitate convicted internet fraudsters with reduced sentences.

Addressing a delegation of the National Association of University Students in March 2024, he said “when you think deeply, that tag ‘ex-convict’ is not a good thing. You can never tell where you will find yourself tomorrow, and they will want to profile you and discover that you are an ex-convict.”

“So, it is even in the interest of the youth that the EFCC is doing what it is doing to prevent them from indulging in the heinous act of cybercrime.”

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