Nigeria’s ability to repay its external debts has come under scrutiny amidst further threat following the $9 billion arbitration award against the country by a London tribunal.
The country’s external debt burden rose from $10.3 billion in June 2015 to $22.1 billion by June 2018.
The 115 percent increase means the debts are now approaching pre-2005 levels when the Paris and London clubs wrote off $18 billion of Nigeria’s after the country paid off the lump sum of $12 billion from its oil revenue surpluses.
In a briefing paper titled ‘Nigeria’s External Debt: The Post-Election Boomerang’, Andrew Roche, the renowned sovereign debt analyst, says the government must take decisive measures to stop the growing burden given the ongoing challenge with revenue generation.
“The Government should take advantage of its renewed mandate to implement measures to ensure the external position of Nigeria does not deteriorate,” he wrote.
“This would begin by resolving outstanding disputed financial obligations and carefully considering new borrowing, thereby signaling to the financial community prudent fiscal stewardship and a transparent and constructive framework for future financing.”
JUDGMENT DEBT
One of the disputed obligations he highlighted is the arbitration award to Process and Industrial Developments Limited (P&ID), a British engineering and project management company.
The company had dragged Nigeria to arbitration in London in August 2012 alleging breach of contract by the federal government over a gas-to-power project.
In July 2015, the dispute was resolved in favour of P&ID and Nigeria unsuccessfully asked the English Commercial Court to set aside the award completely.
In January 2017, the tribunal ordered Nigeria to pay P&ID $6.6 billion in damages and $2.3 billion in interest.
Along with accrued interest, the fine has risen to about $9 billion.
Nigeria is currently trying to stop the enforcement of the award which could put its foreign assets, including reserves, into jeopardy.
The English Commercial Court is expected to hear Nigeria’s defence on June 14 and is likely to make a pronouncement on the merit of Nigeria’s defence at the next sitting.
Meanwhile, Sunrise Power and Transmission, a Nigerian company, is making a $2.3 billion claim against Nigeria at International Chamber of Commerce (ICC) in Paris, France, over another alleged breach of contract, this time on the Mambilla power project in Taraba state.
‘INVESTORS WORRIED’
Roche said Nigeria’s “growing exposure” is leading investors to speculate about how the country can sustain its new debt profile.
“Questions abound concerning the end use of borrowed funds, the success of reforms and the ongoing vulnerability of Nigeria’s fiscal position given its growing external debt burden,” he said.
Early May, Roche had told the Financial Times that there were questions over whether the government was using borrowed cash to patch up holes in budgets, rather than investing in infrastructure or industry, or in efforts to diversify the economy from a heavy dependence on oil.
“They have borrowed quite a bit, but where is the money being spent?” he asked.
Shot of a handsome young man smelling his breath during his morning grooming routine
What’s even more humiliating and socially unacceptable than the remains of a spinach salad speckled across a toothy grin? Yes, it’s bad breath.
Halitosis. A foul odor emanating from the mouth. It’s not a medical emergency, of course, but some 25 to 30 percent of the world’s population suffer with this distressing problem.
The origins of bad breath are not mysterious: dental cavities, gum disease, poor oral hygiene, coated tongue (a white or yellow coating on the tongue, usually due to inflammation) are among the most common.
Hundreds of bacteria live in our mouths and some of them—on the tongue or below the gumline or in pockets created by gum disease between gums and teeth, for example—create sulfurous smells. Other causes may include malnutrition (fat breakdown gives your breath a fruity odor), uncontrolled diabetes, and dry mouth (saliva has an antimicrobial effect). Infections such as sore throat or sinusitis, or intestinal disorders, such as heartburn, ulcers, and lactose intolerance, also result in bad breath.
Bad breath can be intermittent as well. Food and drink, such as garlic, onions, coffee, and alcohol, can temporarily cause bad breath. Smokers also suffer from it. Whatever the cause, treatment involves correcting the underlying disorder—and/or perhaps trying a few easy solutions:
Here are 11 ways to fight bad breath:
If you wear dentures, remove them at night and clean to get rid of bacterial buildup from food and drink.
Drink plenty of water and swish cool water around in your mouth. This is especially helpful to freshen “morning breath.”
Brush after every meal and floss, preferably twice a day.
Replace your toothbrush every two to three months.
Arrange regular dental checkups and cleanings.
Scrape your tongue each morning with a tongue scraper or spoon to decrease the bacteria, fungi, and dead cells that can cause odor. So, hold the tip of the tongue with gauze to pull it forward in order to clean the back of the tongue.
Chew a handful of cloves, fennel seeds, or aniseeds. Their antiseptic qualities help fight halitosis-causing bacteria.
Chew a piece of lemon or orange rind for a mouth- freshening burst of flavor. (Wash the rind thoroughly first.) The citric acid will stimulate the salivary glands—and fight bad breath.
Chew a fresh sprig of parsley, basil, mint, or cilantro. The chlorophyll in these green plants neutralizes odors.
Also, try a 30-second mouthwash rinse that is alcohol-free (unike many off-the-shelf products). Mix a cup of water with a teaspoon of baking soda (which changes the pH level and fights odor in the mouth) and a few drops of antimicrobial peppermint essential oil. Don’t swallow it! (Yields several rinses.)
CRUNCH IT
Raw crunchy foods clean the teeth. Apples contain pectin, which helps control food odors and promotes saliva production. Cinnamon is antimicrobial. Active cultures in yogurt help reduce odor-causing bacteria in the mouth.
1 cup apple chunks
a cup grated carrot
1 cup diced celery
½ cup dried cranberries
½ cup crushed walnuts
3 to 5 tablespoons plain nonfat yogurt
Ground cinnamon
PREPARATION AND USE: Mix the apple, carrot, celery, cranberries, and walnuts together in a large bowl. Add yogurt by the tablespoon to moisten the mixture. Sprinkle with cinnamon. (Serves two.)
Caffeine is well-known for its health benefits, but how much coffee would you need to drink to see a person’s life expectancy increase?
Is there a point when coffee becomes more harmful than helpful?
In two new research papers, experts tackle the perfect amount of coffee to drink every day: two to four cups to improve life expectancy, but no more than five cups to avoid the adverse effects.
How Many Cups Of Good Brew Should You Indulge In Daily?
In new research published in the European Journal of Epidemiology, a team of researchers revealed that two to four cups of coffee a day is linked with a decreased all-cause and cause-specific mortality when compared to no coffee consumption.
According to the scientists, coffee reduces the risks of dying through cardiovascular disease, cancer, respiratory disease, and diabetes.
“It is difficult to calculate, but my feeling is that drinking coffee possibly adds another couple of years to your life,” said Astrid Nehlig of France’s National Institute of Health and Medical Research in Sunday Times, explaining that part of the reason could be improved focus that a cup of brew brings.
The team reached their conclusions by analyzing 40 previous studies, which consisted of 3,852,651 individuals and 450,256 all-cause and cause-specific deaths.
Is There Such Thing As Too Much Coffee?
Of course, too much of a good thing can lead to negative conditions. Another team of researchers focused on finding out how much coffee will be consumed for the health conditions to outweigh the benefits.
According to new research published in The American journal of Clinical Nutrition, excess caffeine can lead to high blood pressure, which, in turn can cause heart disease. Findings show that drinking six or more cups of coffee every day increases the risk of heart disease by up to 22 percent.
“In order to maintain a healthy heart and a healthy blood pressure, people must limit their coffees to fewer than six cups a day. This is based on our data six was the tipping point where caffeine started to negatively affect cardiovascular risk. Said Elina Hyppönen of the Australian Centre for Precision Health in a news release.
The research team used UK Biobank data of 346,077 individuals aged 37 to 73 years. They also found that having the CYP1A2 gene that processes caffeine better and more quickly, it doesn’t mean that you can consume more coffee without detrimental effects.
While menstrual cramps can be painful, you can take many routes to relief and get rid of the pain.
More than half of women who menstruate report some pain from period cramps for a day or two each month, according to the American Congress of Obstetricians and Gynecologists. While menstrual cramps, also called dysmenorrhea, are usually not a sign of a serious health condition, they can put a crimp in your lifestyle.
To help with the pain, here are 10 safe and effective tactics. If your period cramps seem severe or you don’t get relief despite trying some of these options, check with your doctor to rule out more serious health issues.
1. Improving Your Diet Will Help Alleviate Period Cramps
Research has shown that reducing fat and increasing vegetables in your diet may help ease monthly cramps. “A low-fat diet actually decreases overall levels of inflammation in the body,” says Aldo Palmieri MD, an ob-gyn at UCLA Health and a professor of obstetrics and gynecology at the UCLA David Geffen School of Medicine in Los Angeles. A low-fat, vegetarian diet not only helps your health generally, says Dr. Palmieri, but it can have an indirect yet noticeable effect on menstrual cramps, too.
Trying to achieve a healthier diet? To start, swap out less healthy fats like the saturated fats found in animal products, and choose healthier ones like unsaturated fats found in olive oil, suggests the American Heart Association (AHA). And if you’re having dairy, pick low-fat or fat-free products. Overall, try to get 25 to 35 percent of your total daily calories from healthier fats found in fish, nuts, and vegetable oils, the AHA suggests. A balanced plate is essential; examples can be found at the healthy eating plate site from Harvard University in Boston.
2. Pop a Safe Painkiller to Cut the Inflammation
Not everyone wants to turn to medicine to soothe period cramps, but moderate use of a nonsteroidal anti-inflammatory medication (NSAID), such as Advil (ibuprofen) or Aleve (naproxen), can help, Palmieri says. Menstrual cramps occur because of local release of substances called prostaglandins, he explains, and NSAIDs lower prostaglandin production and decrease overall inflammation and pain.
Check first with your doctor to be sure NSAIDs are a good choice for you, especially if you have a history of bleeding or kidney issues. And read the label for dosing instructions to be sure you don’t accidentally take too many.
3. Some Herbal Tea Varieties Can Calm Cramping
Certain teas may help relieve menstrual cramps, says Sonya Angelone, a registered dietitian nutritionist in the San Francisco Bay area.
Research on herbal teas for menstrual pain relief is scarce, say experts, but teas have been used traditionally and can help. Because some of the herbs may act as estrogens, ask your doctor first before using one, especially if you have a history of a hormone-related cancer or take blood-thinning drugs.
One example of an herbal tea that people use for menstrual discomfort is cramp bark, according to the University of Maryland Medical Center in Baltimore. Boil 2 teaspoons of the bark in a cup of water, simmer for about 15 minutes, and drink it three times a day. Be sure to clear this remedy with your doctor first, especially if you’re on diuretics for blood pressure or on lithium.
Tea with peppermint oil may also help, Angelone says. She advises her patients with cramps to start sipping the whichever tea gives them relief a week or so before they expect their period. Ask your doctor if that might work for you.
4. Try Fish Oil and Vitamin B1 for Natural Relief
Another natural route to period cramp relief is taking fish oil supplements, vitamin B1, or both, according to research published in September 2014 in the Global Journal of Health Science. Scientists assigned 240 teens with menstrual cramps and other pain to take B1 and fish oil, B1 alone, fish oil alone, or a placebo. The teens took 100 milligrams (mg) per day of B1 and 500 mg daily of fish oil supplements.
When the teens reported their pain, those taking either the fish oil, B1, or both had significantly less pain than the placebo group. The pain also didn’t last as long if they took fish oil or B1.
5. Acupuncture May Help by Relaxing the Nervous System
Acupuncture can help relieve cramps, says Jeannie Bianchi, a licensed acupuncturist in San Francisco. “We’re relaxing the nervous system,” she says, which causes more robust blood flow to the internal organs. Acupuncture is also thought to have an anti-inflammatory effect.
In a January 2011 Cochrane review, experts looked at six studies that observed the effects of acupuncture on period cramps. They compared acupuncture with no treatment or conventional treatment (such as anti-inflammatory drugs) on 673 women. In another four studies, they compared the effects of acupuncture versus no treatment or conventional treatment in 271 women.
Overall, they found that both acupuncture and acupressure could reduce pain, but concluded that more evaluation was needed.
6. Massage With Essential Oils for Pain Relief
Massage with certain aromatic essential oils (such as lavender essential oil, clary sage essential oil, or marjoram essential oil) can also relieve menstrual cramp pain, according to a study published in May 2012 in the Journal of Obstetrics and Gynaecology Research. Investigators assigned 48 women with menstrual cramps and other symptoms to massage either essential oils or a synthetic fragrance on their lower abdomen. The women used a mixture of diluted essential oils from the end of one period to the beginning of the next. Lavender, clary sage, and marjoram were used in a 2-1-1 ratio, and the essential oils were diluted to a 3 percent concentration overall in an unscented cream (a solution created, for example, by adding 3 milliliters (ml) of essential oils to 97 ml of an unscented cream).
Women in both groups reported less pain, but the essential oils group did better. Based on the women’s reports, researchers found that the duration of pain was reduced from 2.4 to 1.8 days after self-massaging with essential oils.
Just be sure you’re using essential oils safely. The National Association for Holistic Aromatherapy suggests diluting pure essential oils in an unscented cream or lotion or other type of oil before using directly on skin to avoid irritation and other problems.
7. Curl Up With a Heating Pad to Ease Period Cramps
“[Use of] a heating pad has been studied, and it seems to work,” says Palmieri. Indeed, one small study published in 2001 in Evidence-Based Nursing found that topically applied heat was just as effective as ibuprofen for period cramps. Examples of over-the-counter medicines containing ibuprofen include Advil and Motrin.
The researchers assigned 84 women who had cramps to one of four groups. One used a combination of a heated patch and ibuprofen (200 mg every 6 hours). A second group used an unheated (placebo) patch and ibuprofen. A third group used a heated patch and a placebo pill. A fourth group, the control, was given an unheated patch and a placebo pill.
Over the two study days, the women using heat plus ibuprofen, heat alone, and ibuprofen alone reported greater pain relief than those on the placebo. Women using heat with ibuprofen did not report differences in pain relief compared with those using ibuprofen alone. But with heat, they experienced faster improvement in pain relief: about 90 minutes after starting, compared with nearly three hours for those taking medicine alone. More women who used both heat and ibuprofen reported complete pain relief compared with those in the control group, the researchers found.
A review of studies published in March 2014 in the Journal of Physiotherapy found that heat reduced women’s period pain significantly.
8. Boost Those Feel-Good Endorphins With Exercise (or Orgasms)
In addition to their pain-relieving effect, endorphins can also boost your mood. Having an orgasm releases endorphins, Palmieri says. Working out does as well. Perhaps the last thing you want to even think about while in the midst of cramps is exercise, but activity can boost endorphins and help chase away pain.
A report published in March 2015 in the Journal of Family Reproductive Health indicates that both aerobic exercise and stretching helped soothe period cramps for 105 students in the study.
9. Up the Magnesium in Your Diet to Help Nerve and Muscle Function
Dietary magnesium seems to help ease the pain of cramps, says DeJarra Sims, ND, an assistant professor of naturopathic medicine at Bastyr University’s California campus in San Diego and the author of Your Healthiest Life Now. A Cochrane review of dietary and other remedies published in 2001 concluded that getting enough magnesium can help relieve pain.
Magnesium is found in many foods and as a supplement if you can’t get what you need from your diet. Magnesium helps regulate nerve and muscle functioning, among other vital tasks; researchers who evaluated the evidence on magnesium call it a promising treatment for menstrual cramps. But they cannot recommend a specific dose, because researchers have studied various doses. The recommended dietary allowance of magnesium for women of childbearing age is about 320 mg daily. An ounce of dry almonds or one half cup of boiled spinach each has about 80 mg.
Dr. Sims says the dose you may need depends on the severity of your cramps and other factors. Ask your doctor about the best magnesium intake for you.
10. Birth Control Pills May Lessen Painful Cramping, Too
The odds are that your birth control pills may help relieve painful cramps, as reported in a Cochrane review of 10 studies that was published in October 2009. Experts didn’t find any difference between low- or medium-dose estrogen contraceptives in producing pain relief for period cramps. But oral contraceptives come with side effects for some, which may include spotting, breast tenderness, nausea, and low sex drive — in addition to a higher risk of blood clots.
President Muhammadu Buhari on Monday gave the Inspector-General of Police, Ministry of Justice and National Human Rights Commission three months to work out the modalities for the implementation of the report of the Presidential Panel on the Reform of the Special Anti-Robbery Squad.
The panel, which was chaired by the Executive Secretary of the NHRC, Mr Tony Ojukwu, had in conjunction with the commission, investigated allegations of human rights violations by SARS.
In the report of the panel submitted to Buhari at the Presidential Villa, Abuja, it recommended among others, the establishment of state/local government police and various reforms to make SARS more citizen-friendly.
Shortly after the panel submitted its report to the President on Monday, some civil and human rights groups called on the National Assembly to take action.
The panel also recommended that SARS should be renamed Anti-Robbery Section and should operate under the Intelligence Unit of the Nigeria Police as it was hitherto.
Panel recommends dismissal of 37 police officers, prosecution of 24 others
The panel recommended the dismissal of 37 police accused of violating the rights of Nigerians from service and the prosecution of 24 others for abuses.
Another recommendation was that the Inspector-General of Police, Mr Mohammed Adamu, should fish out 22 other officers accused of violating the rights of citizens.
It also asked the Nigeria Police to pay compensation to 45 complainants, in addition to tendering public apologies and complying with court orders in 10 separate cases.
President gives three months’ deadline
While receiving the report, the President noted that since the recommendations of the NHRC was actionable in court, he had given a directive for the modalities for the implementation of the report to be worked out within three months.
He stated, “I want to thank the panel once more, and hereby direct that since the recommendations of the commission that constituted the panel are enforceable as decisions of the court, that the Inspector-General of Police and the Solicitor General of the Federation/Permanent Secretary, Federal Ministry of Justice, should meet with the commission to work out the modalities for the implementation of the report within three months from today.”
Buhari, who said he was happy that, finally, a full investigation had been conducted into the alleged abuses by SARS, added that he believed the recommendations would help assuage the pains suffered by the victims and make the police work better.
He added, “I believe that the report of the panel and recommendations contained therein would go a long way in redressing the grievances of the complainants, ensure accountability on the part of the police officers in discharging their responsibilities and facilitate the various police reforms being introduced by this administration.
“I want to assure you and all Nigerians that this administration will continue to fulfill its obligations of promoting and protecting human rights of Nigerians, and will give the National Human Rights Commission all the support required to ensure full implementation of the recommendations contained in its report.
“In addition, we will strengthen the operations of the commission to enhance its effectiveness and capability to resolve cases of human rights violations.
“This administration is conscious of the role the commission plays in ensuring security and stability in the nation through the resolution of complaints of human rights violations, which if neglected, could result into major security challenges.
“As you are aware, I have recently approved the re-constitution of the governing council of the commission. The names of the council members will be submitted to the National Assembly for confirmation before the inauguration of the council in line with NHRC Act, 1995 (as amended).”
Speaking earlier, Ojukwu recalled how the commission acted on Buhari’s directive on August 14, 2018 to set up the panel.
He said the panel began work and received “113 complaints on alleged human rights violations from across the country and 22 memorandums suggesting how to reform and restructure SARS and the Nigeria Police in general.”
He disclosed that the panel held sittings in the six geopolitical zones to give both the complainants and police the opportunity to make presentations.
Ojukwu added, “At the end of its public hearing and having listened to complaints as well as defendants and their counsel, the panel recommended 37 police officers for dismissal from the force.
“Twenty-four were recommended for prosecution. The panel also directed the Inspector-General of Police to unravel the identity of 22 officers involved in the violation of the human rights of innocent citizens.
“The police were directed to pay compensation to various 45 complaints and tender public apologies in five complaints and directed to obey court orders in five matters.
“The police were directed to immediately arrest and prosecute two retired senior officers found to have violated the rights of citizens (one for extrajudicial killing and the other for illegal takeover of property of a suspect). The panel also recovered two vehicles illegally auctioned by SARS and returned them to their owner.”
He added, “Significant improvement in the funding, kitting and facilities of the Nigeria Police Force; strengthening Information and Communication Technology of the force; establishment of state and local government police; and institutionalising a Special Investigation Panel to annually hear and determine complaints on alleged human rights violations against operations of the Nigeria Police Force were also recommended.”
Of all the hair issues you can wake up and encounter — greasy, flat, split ends — finding a bunch of unsightly white flakes nestled among the follicles has to be one of the worst.
The most annoying thing about dandruff is that no matter how much you wash your hair, those pesky flakes don’t seem to disappear.
And the more you attempt to brush them out? The worse they seem to get.
According to shampoo company Head and Shoulders, one in two of us will experience dandruff at some point in our lives, so it’s a fairly common issue that plenty of people can relate to.
How To Combat Dandruff
Thankfully, there are also ways to effectively combat the white stuff.
We asked Dr Rolanda Wilkerson, principal scientist at the anti-dandruff haircare brand to share her advice.
“A common misconception of dandruff is that it’s associated with lack of hygiene,” she starts off.
“However, this is not the case, and it is actually a really common issue — more than 50% of the world’s population experience dandruff at some point.
“In the same way that the skin on our body has a unique way of telling us when something is not quite right, our scalp and hair does too.
“For example, weather and climate can be a key player, with cold or dry weather exacerbating the issue.
“Dandruff is caused by a fungus called ‘Malassezia globosa’ which lives on the scalp.
“It’s the reaction that the fungus has with an individual’s skin which determines whether they get dandruff or not.
“The fungus feeds on the scalp’s natural oils and creates an acidic by-product that can cause irritation — depending on your genetic predisposition.
“If your skin gets irritated by this acidic by-product, then it naturally accelerates the production of new skin cells, which clump together. This leads to the white skin flakes that are the most visible signs of dandruff.
“While dandruff cannot be cured, it can be treated. Early and invisible signs of dandruff — such as itching, dryness, irritation and oiliness — and visible signs of flakes, can be treated in a variety of ways.”
Here, Wilkerson gives her top tips for treating dandruff and preventing it in the first place.
Exfoliate
“Comb the scalp and hair to get rid of dead skin and extra product. Be sure not to do this too hard as this could cause additional scalp skin issues and make it worse.”
Prevent
“Use an anti-dandruff shampoo like Head and Shoulders regularly, and try not to combine it with other beauty products, states Dr Wilkerson
Following an anti-dandruff product with a beauty shampoo or conditioner will wash away the active ingredient and its dandruff-fighting power.”
Cleanse and hydrate
“Massage your shampoo into the scalp to boost blood-flow, and apply conditioner to your scalp as well as the ends of your hair.”
Avoid heat
“Using a hair dryer or added heat can dry out the scalp.”
Reduce stress
“Stress can trigger dandruff in some people, so taking time out for yoga, meditation, general relaxation and fitness can help to reduce symptoms.”
Try home remedies
“Some people swear by home remedies to provide temporary relief of dandruff, such as a few drops of tea tree oil.”
Eat healthily
“Some fatty, salty or sugary foods like cheese and chocolate can trigger dandruff, as well as not consuming enough foods that contain zinc, vitamin B and omega 3.”
Don’t ignore your scalp
Dr Rolanda Wilkerson concludes: “It’s important to note that taking care of the scalp is just as vital as taking care of the skin on the rest of the body.
“Taking preventative care can not only reduce any signs of flaking that you may see, but it can also address any further signs of an unhealthy scalp that are invisible to the eye — like excess oil, dryness and itching.”
“Baby, you are my last bus stop, Omawumi promises hubby as she dedicates her latest project to him”
‘Bottom Belle’ singer, Omowumi has announced the release of her latest music project titled, ‘In her feelings’, a song dedicated to Tosin Yusuff, her long-term boyfriend turned husband.
On Friday, May 31, 2019, with the most sensual photos ever seen in the course of her music career and exceptionally emotional words, Omawumi told toyin ‘Baby, you are my last bus stop’
The Singer wrote:
“My BK of life, we first laid eyes on each other 9-years ago yesterday. Who knew God’s plan for us? It started like a whirlwind; we were just lost in each other without definition until eye clear.
“2-months later pregnancy came. As confused as we were, with tension and rumours flying about, you stood strong and solid with me. All these years have passed and we have morphed from hidden lovers, to friends, to parents, to life partners. I know you’re God sent.
“The unflinching love and kindness I see in your eyes always, the patience hidden in your frowns; or God that I see in you, because clearly, you so understand me”, she said.
Omawumi also revealed that the song is an expression of how she feels about the love they have shared for almost a decade now. “They say luck is predictable, but I never predicted you. You showed up and changed this thing called life into paradise. And I have been lucky so many times with you.
Thank you for making it a duty to make me happy. Many things that I have done wrong, but I know I’m right on this one. Baby, you are my last bus stop. Yes, I wrote you a song, and I hope it says everything about the way I feel.
And I snapped this photo for you because you, my darling. You have given me the best moments of my life. If I were to go on this journey again, I’ll choose you every single time. Because what would life be worth, without you?
Recall that three months ago a Bench warrant was issued for the arrest of former Super Eagles international, Austin Okocha, popularly known as Jay Jay Okocha over alleged tax fraud in Lagos.
The football legend has found himself entangled in another case of fraud. The former English Premier League footballer has appeared in court facing money laundering charges in Aberdeen, Scotland, over money laundering charges.
After appearing in private at Aberdeen Sheriff Court on Friday, he faces two charges in thegujma behind-closed-doors hearing. The appearance relates to alleged incidents said to have happened in the north-east of Scotland in 2015.
This appearance relates to alleged incidents said to have happened in the north-east of Scotland in 2015.
Though Okocha made no plea during the hearing, the retired footballer, whose general address was given as Milton Keynes, Buckinghamshire, was granted bail. No date has yet been fixed for his next court appearance.
The United Arab Emirates (UAEs) recently-launched permanent residency scheme could be a game changer and provide a fillip to the real estate market. This will be achieved by encouraging expatriates to invest in property and settle in the Gulf nation, industry experts said.
The United Arab Emirates recently launched a permanent residency scheme to woo wealthy individuals and exceptional talents, a move that could attract more professionals and businessmen to the country. The “Gold Card” programme unveiled by UAE Prime Minister, Sheikh Mohammed bin Rashid Al-Maktoum, is open to investors and “exceptional talents” such as doctors, engineers, scientists, students and artists.
“This initiative further positions the UAE as an innovative destination for business leaders, providing millions of people with high-quality opportunities in a tolerant, safe and productive environment,” he said.CEO of Allsopp & Allsopp, Dubai estate agents, Lewis Allsopp said this is a huge milestone for the UAE and for the Dubai property market.
“Most expatriates have a money-making mindset when they move to Dubai with a short-term plan. The UAE Cabinet’s decision to enforce a Gold Card for permanent residency, now allows expatriates to look at Dubai as a home rather than a temporary plan,” he added.
The permanent residency is a good step forward and likely to boost the fortunes of its property market, a statement from the Property Finder said.It said that around 6,800 people have been granted permanent residency and a ‘Gold Card’ in the first round of applications.
“This is a game changer for the real estate industry in Dubai. We are yet to get full details of the Gold Card program, such as who can qualify and the terms. However, it’s definitely a step in the right direction and very much needed to stimulate investment,” Lynnette Abad, Director of Research and Data, Property Finder, said.
Short and long-term visas
Currently, short-term visas linked to employment hold back expatriates from investing and owning real estate in the UAE. They prefer to remit savings to their home countries instead. The Gold Card scheme will encourage expatriates to make long-term investment goals, including owning a property.
The UAE already offers long-term visas valid for five to 10 years to property investors, entrepreneurs and people with exceptional talents without the need for a local sponsor. A minimum investment of $13,61,225) is needed to obtain a five-year visa, and double that amount is necessary for a decade-long visa.
“Initiatives and new regulations like these are expected to have a positive impact on the real estate market in Dubai. The more the government offers to entice talent and companies, the easier it will be for them to settle here and call Dubai home. Then, the investment should follow suit,” Abad said.
The two initiatives sparked interest from real estate investors in Dubai’s residential property at the time.The latest gold card system, which offers much more incentives to investors, is likely to fetch buyers for around 59,800 properties scheduled for delivery in Dubai this year.
The new visa rules, including the issuance of gold card, have made it easier for those who view Dubai as a hub city to settle and become contributors to the overall economy. This would also help in soaking up current and upcoming supply and help the market in price stabilisation.
Andy Ruiz Jr. could lose one of his four world titles before he even has the chance to defend it, SportsMail reports.
The Mexican boxer shocked the world by beating Anthony Joshua on Saturday night, knocking the Brit down four times before forcing a seventh-round stoppage.
Doing so made him become the WBA, WBO, IBO, and IBF defending heavyweight champion.
A rematch has already been penciled down for the end of the year in the UK, but all four belts may not be on the line.
One of the four sanctioning bodies, the IBF could call on Ruiz to defend their belt against mandatory challenger, Kubrat Pulev.
The 29-year-old may however decline in favour of another big money showdown with Joshua, meaning that he would be stripped of the title.
