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Gulf of Guinea: UN Official urges Stronger Action to Tackle Piracy 

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Gulf of Guinea: UN Official urges Stronger Action to Tackle Piracy 

A senior UN official, Ms. Martha Pobee has called on countries and their international partners to accelerate efforts to counter the singular threat of piracy in the Gulf of Guinea.

Pobee, an Assistant Secretary-General in the Department of Political and Peacebuilding Affairs (DPPA) made the appeal while briefing the Security Council at UN headquarters in New York on Tuesday.

Presenting the Secretary-General’s latest report on the issue, Pobee warned of a shifting situation that would require greater response.

According to her, the decline in incidents is the result of concerted efforts by national authorities, supported by regional and international partners, both on land and at sea.

Actions such as increased patrols, deployment of naval assets, enhanced coordination, as well as convictions, have served as deterrents to criminal activity.

However, she said piracy in the Gulf of Guinea had morphed over this period.

“Pirate groups are adapting to changing dynamics both at sea and in coastal areas,” she said.

“In this respect, the recent decrease in instances of piracy may in part be attributable to the shift by criminal networks to other forms of maritime and riverine crime, such as oil bunkering and theft, which they likely view as both less risky and more profitable”.

She stressed that it was imperative for States and their regional and international partners to accelerate efforts to establish security in the Gulf of Guinea, as outlined in the Yaoundé Code of Conduct, signed in June 2013.

Pobee pointed to some of the achievements since then, such as the recent signing of an agreement to establish a Multinational Maritime Coordination Centre (MMCC) for a zone that covers Cabo Verde, Gambia, Guinea-Bissau, Mali and Senegal.

A maritime exercise involving 17 of the 19 countries that border the Gulf of Guinea, as well as eight international partners, was also conducted last in October over an area stretching from Senegal to Angola.

She also underscored the UN’s continued political and technical assistance to States, including through agencies such as the UN Office on Drugs and Crime (UNODC) and the International Organisation for Migration (IOM).

“At present, there is no firm evidence to suggest any potential or possible linkages between terrorist and pirate groups,” she told the Council.

“However, addressing the underlying social, economic, and environmental challenges faced by communities in the region will ultimately serve to contain both threats.”

Pobee said the UN is also strengthening collaboration with international financial institutions to support countries in addressing the underlying causes of fragility and security.

With the 10th anniversary of the Yaoundé framework approaching, United Nations Office on Drugs and Crime (UNODC) chief, Ghada Waly while briefing pointed to the opportunity to dedicate greater attention, resources and action to supporting maritime security and the rule of law in the Gulf of Guinea.

She urged the international community to help governments develop their capacities and legal frameworks, with domestic laws that criminalise piracy and enable prosecution.

“We must improve investigation and prosecution capacities, to give teeth to enforcement efforts and reach a ‘legal finish’ to every case pursued,” she said.

Waly highlighted the need to be quick to respond to the shifting trends in piracy to “prevent the threat from simply taking a different form”.

She called for developing a regional framework to expand cooperation and urged vigilance against the possibility of terrorist groups in the Sahel linking up with criminal enterprises in coastal regions.

The UNODC Executive Director also underscored the crucial need to address the root causes of piracy in the Gulf of Guinea by working with vulnerable coastal communities.

These populations are also dealing with challenges such as environmental degradation and biodiversity loss, fuelled by climate change and illegal fishing.

“Criminals at sea must be stopped and held accountable, but to ensure a truly sustainable response, due attention must be paid to the people who may become such criminals, the factors that drive them to it, and the people most affected,” she said.

“We must pursue community-based crime prevention strategies and engage with at-risk and marginalised youth to cultivate personal and social skills, prevent risky behaviors, and grant them opportunities.”

Waly said UNODC is supporting the development of community-based crime prevention strategies in the Niger Delta region of Nigeria, which she hopes will be replicated in other coastal communities.

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Super Eagles beat hosts Guinea Bissau, to reclaim Group ‘A’ leadership

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Super Eagles beat hosts Guinea Bissau, to reclaim Group 'A' leadership

The Super Eagles on Monday in Bissau beat hosts Guinea Bissau 1-0 to reclaim leadership of Group A in the 2023 Africa Cup of Nations (AFCON) qualifiers.

Moses Simon’s penalty kick after 29 minutes gave the Nigerian senior men’s football team the needed win to move to nine points after four matches.

They have now upstaged from the apex position Guinea Bissau who toppled them on Friday in Abuja with a 1-0 win.

Guinea Bissau is with seven points from four matches and in second place, ahead of Sierra Leone who has five points from four matches.

Nigeria is expected to now face the Leone Stars of Sierra Leone in a Match Day 5 fixture.

 Details later  

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Banking & Finance

NGX: Investors Lose N622bn, as NCR Nigeria, Unity Bank lead Losers’ chart

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NGX: Investors Lose N622bn, as NCR Nigeria, Unity Bank lead Losers’ chart

The domestic stock market on Nigeria Exchange Ltd. (NGX) continued on a negative note as the market capitalisation on Monday dropped by N622 billion amid sustained profit-taking activities.

Accordingly, investors lost N622 billion in value as market capitalisation declined to  N29.281 trillion from N29.903 trillion recorded at the previous session.

The All-Share Index (ASI) fell by 1,141.76 points, representing a decline of 2.08 percent, to close at 53,750.77 points as against the 54,892.53 posted on Friday.

Consequently, the ASI’s year-to-date (YTD) return fell to 4.88 percent.

The downturn was impacted by losses recorded in large and medium capitalised stocks, amongst which are; Airtel Africa, Seplat Energy, MTN Nigeria Communications (MTNN), Nigerian Breweries and Lafarge Africa.

“We expect risk-on sentiments to be sustained in the equities markets even as the depressed interest rate environment will continue to favour the local bourse in line with our expectations for Q1, 2023.

“Taking positions in stocks with solid valuations and dividend yields ahead of the dividend-paying season remains the choice strategy.

“However, we see room for extended profit-taking activities,” Analysts at United Capital Plc said.

The market breadth was negative as 21 stocks lost relative to five gainers.

Courteville Business Solutions recorded the highest price gain of 6.67 percent to close at 48k per share.

NPF Microfinance Bank followed with a gain of 2.7 percent to close at N1.90 and AIICO Insurance up by 1.75 percent to close at 58k per share.

FBN Holdings (FBNH) rose by 0.92 percent to close at N11, while Zenith Bank gained 0. 2 percent to close at N25 per share.

Conversely, NCR Nigeria led the losers’ chart by 9.79 percent to close at N2.12, per share.

Unity Bank followed with a decline of 9.43 percent to close at 48k, while Prestige Assurance declined by 8.89 percent to close at 41k, per share.

SUNU Assurance declined 8.33 percent to close at 44k, while Multiverse Mining and Exploration and Airtel Africa shed 8.31 percent each to close at N2.98 and N1,420 respectively per share.

Also, the total volume traded decreased by 26.66 percent to 100.883 million units, valued at N4.342 billion and exchanged in 3,279 deals.

Transactions in the shares of Guaranty Trust Holding Company (GTCO) topped the activity chart with 12.836 million shares valued at N318.513 million.

Zenith Bank followed with 11.920 million shares worth N297.982 million, while United Bank for Africa (UBA) traded 10.038 million shares valued at N80.242 million.

MTNN traded 8.264 million shares valued at N1.927 billion, while FBNH transacted 7.719 million shares worth N84.577.

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MARITIME SAFETY: NIMASA, NCC Close Ranks On Submarine Cable Regulation In Nigeria

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MARITIME SAFETY: NIMASA, NCC Close Ranks On Submarine Cable Regulation In Nigeria

…Jamoh reiterates  commitment to Ease of Doing Business 

The Nigerian Maritime Administration and Safety Agency, NIMASA, and the Nigerian Communications Commission (NCC) have agreed to work closely with relevant stakeholders as the Agency inches closer to developing a regulatory framework to provide operational guidelines for Submarine Cable and Pipeline Operators in Nigeria. 

Officials of both organs of Government in Lagos reached this agreement at a pre Audit meeting on submarine cable regulation.

The Director General of NIMASA Dr. Bashir Jamoh, OFR, who chaired the meeting, which also had the Director General of Bureau of Public Service Reforms (BPSR) Mr. Dasuki Arabi in attendance, noted that the Agency is committed to the Ease of doing Business while implementing International Conventions which Nigeria has ratified and domesticated. 

He noted that with Nigeria now a destination for global communication players, the time has come to prevent unregulated underwater cable laying, which might become hazardous to shipping.

According to him, “It is worthy to note that marine cable laying has been ongoing for over two decades in Nigerian waters. Our focus is to ensure safety of navigation of shipping in Nigerian waters with all these underwater cables being laid.

NIMASA is actually developing the guidelines to regulate submarine cable operators in line with the provisions of the United Nations Convention on the Law of the Sea, UNCLOS; which we have ratified and NIMASA is the Agency of Government in Nigeria responsible for its implementation. We do not just implement laws; we consult. Where the responsibility of an Agency stops, that is where the responsibilities of another Agency start. Collaboration is a key component of ease of doing business in the best interest of the country and we will work closely with the NCC to achieve this”.

On his part, the Executive Vice Chairman of the NCC, Professor Umar Garba Danbatta who was represented by the Director, Compliance Monitoring and Enforcement, Efosa Idehen noted that the stakeholders’ dialogue strategy adopted by NIMASA in developing the guidelines would ensure a win-win situation urging NIMASA management to include the Ministry of Justice, a request NIMASA DG immediately granted.

Also speaking at the meeting was the Director General of the Bureau of Public Service Reforms Mr. Dasuki Arabi, who commended NIMASA and NCC for adopting effective Inter-Agency collaboration to avert a potential challenge for the country in the future.

NIMASA had notified submarine and cable operators in Nigeria of a soon-to-be-implemented regulatory guideline for submarine cables and pipelines in Nigeria, in line with the provisions of UNCLOS. NIMASA and the NCC agreed to identify and resolve areas of likely regulatory overlaps, ensuring a regulatory framework based on consultation to engender the attainment of Nigeria’s digital economy transformation.

Officials of the Federal Ministry of Environment and representatives of Submarine Cable operators in Nigeria were also at the meeting.

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