Tinubu appoints Kemi Nandap, CG of Immigration Service

ThinkBusiness Today - February 22nd

Good morning, and a warm welcome to ThinkBusiness Africa, your Monday – Friday dose of commentary, contexts, and insights on business and economic news that matter to you.

Remember to visit www.tb.africa to continue to enjoy the second phase of our media services development. Also remember to share your feedback.

ThinkBusiness Africa thank you.

Please, also share so we can continue to build a community of “business thinkers”.

Upcoming Event

In partnership with

Africa Headlines

Tinubu appoints Kemi Nandap, CG of Immigration Service - President Bola Tinubu has approved the appointment of Kemi Nandap as the new Comptroller-General of the Nigeria Immigration Service (NIS), effective March 1, 2024. Nandap, who previously served as the Deputy Comptroller-General in charge of the Migration Directorate, will succeed Caroline Adepoju, whose term ends on February 29, 2024. The President expects Nandap to continue the ongoing reforms in the service, ensuring efficient and dedicated service delivery to Nigerians. Additionally, Nandap is tasked with strengthening national security by implementing proactive and effective border security measures and managing migration effectively.

Pension Regulator Secures N326 Million for Pensioners in Q3 - Good news for some retirees as N326.6 million in unpaid pension contributions were recovered in Q3 2023, bringing the total recovered since 2012 to N25.13 billion. However, not all are so lucky, as some retirees like, whose employer didn't contribute regularly, highlight the ongoing issue of non-remittance. To address this, the National Pension Commission (PenCom) utilizes recovery agents and enforces measures like the Pension Clearance Certificate (PCC) required for government contracts. Experts emphasize the importance of timely employer contributions for both individual well-being and the system's sustainability. While progress is evident, challenges remain. PenCom reiterates the legal obligation for employers to remit contributions within seven days, even for employees who haven't opened their own accounts. The ultimate goal is to ensure all retirees have access to their hard-earned fund

UN Security Council sanctions rebels in DR Congo as violence escalates - The United Nations Security Council has sanctioned the leaders of six armed groups involved in the escalating violence in the Democratic Republic of the Congo's northeastern region. The move includes imposing an arms embargo, travel ban, and asset freeze on the designated individuals. The conflict in the region has resulted in the displacement of nearly seven million people over the past three decades, with over 120 armed groups vying for control of the mineral-rich area. The recent resurgence of the M23 rebel group has intensified the fighting, leading to the Congolese army repositioning itself. The violence has worsened the already dire humanitarian situation, with a surge in cases of cholera and increased attacks against humanitarian actors. The government of President Felix Tshisekedi, who was recently re-elected, has pledged to quell the fighting and has relied on regional and international forces for support. Tshisekedi has also called for the withdrawal of the United Nations Mission in the DRC (MONUSCO) by the end of the year, citing its failure to protect civilians.

Global Headlines 

Nearly 153,000 Student Loan Borrowers to Receive Debt Cancellation under New Biden Plan - The Biden administration is set to cancel approximately $1.2 billion in federal student loan debt for nearly 153,000 borrowers enrolled in the new repayment plan called SAVE. These borrowers will receive an email notification, including a congratulatory message from President Joe Biden. Since taking office, the Biden administration has prioritized addressing student loan debt, despite facing setbacks, such as the Supreme Court rejecting a signature loan forgiveness program. The current round of debt relief follows the cancellation of nearly $138 billion in federal student loan debt for almost 3.9 million borrowers under various programs. The SAVE plan offers generous repayment terms, and borrowers who originally borrowed $12,000 or less and have made payments for at least 10 years will have their remaining balances erased. Additionally, the administration is conducting a recount of past payments to correct administrative errors and expand eligibility for forgiveness programs like Public Service Loan Forgiveness and borrower defense to repayment

Former Australian bishop charged with historical sex offenses - Emeritus Bishop Christopher Saunders, a senior Australian Catholic clergyman, has been charged with historical sex offenses allegedly committed during his time as the bishop of Broome in Western Australia. The 74-year-old has been charged with multiple counts, including sexual penetration without consent, indecent assault, and indecently dealing with a child. Saunders was arrested at his home and denied bail. The allegations against him emerged in 2020, leading to a Vatican investigation. The Australian Catholic Bishops Conference cooperated with the police investigation, and the findings were passed on to the authorities. Saunders is the highest-ranking Australian Catholic official to face historical sex abuse charges since Cardinal George Pell, whose conviction was later overturned. Scandals of sexual abuse within the Catholic Church have prompted apologies and inquiries, with Australia's investigation revealing a significant failure to protect vulnerable individuals and a high percentage of abuse cases within Catholic organizations.

Dozens feared dead and others trapped following gold mine collapse in Venezuela - An illegal gold mine in La Paragua, Venezuela, has collapsed, leading to fears of multiple fatalities. The mayor of the town estimates that dozens of people have been killed, with others still trapped in the mine. Conflicting reports on the incident's scale have emerged due to the region's remote location. Rescue teams have been deployed to the area, known as Bulla Loca. Bolivar state, where the mine is situated, has a history of illegal mining, often controlled by criminal groups. The expansion of informal mining has even reached protected areas like Canaima National Park, located near La Paragua.

How can we help?

Macro + Markets Briefing

Market environment /risks, global and domestic economic linkages, fiscal and monetary policy dynamics, commodities, currencies etc.

Keynote Talks, Facilitation, and Bespoke Presentations

Strategy/ Execution, Market / Political Risks, Economics / Policies, Leadership etc.

Research + Consulting

Economic / Market Research / consulting, PR / communications consulting,

Media Appearances

Reply

or to participate.