AASDU Vice President, Ichie Okoye urges diaspora participation in town unions to drive development - ITREALMS

The First Vice President of the Association of Anambra State Development Unions (AASDU), Lagos Branch, Ichie Jonathan Meziem Okoye, has urged Anambra indigenes living across Nigeria and in the diaspora to actively participate in their respective town unions, describing the associations as essential vehicles for unity, cultural preservation, and community development, reports ITREALMS.

Speaking in a recent interview with the Anambra State Broadcasting Service (ABS) in Lagos, monitored by ITREALMS, Ichie Okoye emphasized that town unions remain an integral pillar of the traditional Igbo system of governance, which comprises the kindred, village assembly, and town union.

Bridge-building in diaspora: Engr. Ike Nnamani and Igbo Canadian milestone by Remmy Nweke - WeekendDigits@ITREALMS

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Tech leadership and cultural heritage:
In the intricate tapestry of the Nigerian diaspora, few threads are as vibrant or as strategically important as the connection between global professional excellence and grassroots community identity. 

Recently, this intersection was profoundly illuminated in Toronto, Canada, when the Igbo Canadian Community Association (ICCA); often referred to as Umunna, took the landmark decision to inaugurate Engr. Ikechukwu Nnamani as its first-ever Patron.

NASENI, NiDCOM team up to harness diaspora tech power - ITREALMS

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The National Agency for Science and Engineering Infrastructure (NASENI) and the Nigerians in Diaspora Commission (NiDCOM) have entered into a strategic partnership aimed at leveraging the expertise, creativity, and skills of Nigerians in the diaspora to drive homegrown innovation and technological advancement.

During a working visit to NiDCOM headquarters in Abuja, the Executive Vice Chairman/CEO of NASENI, Mr. Khalil Suleiman Halilu, and the Chairman/CEO of NiDCOM, Hon. Abike Dabiri-Erewa, described the collaboration as a timely intervention designed to bridge Nigeria’s innovators at home with professionals abroad, including scientists, engineers, technologists, and entrepreneurs.

Owu in Diaspora supports Olumide Ogunleye for next Oba of Akinale - ITREALMS

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Owu in Diaspora drum support for Olumide Ogunleye as next traditional ruler of Akinale the Obaship ambition of Prince Olumide Ogunleye to become next traditional ruler of Akinale town of Ewekoro local government area of Ogun State under Owu kingdom of Egbaland has received positive boost, as a group consisting of Owu indigenes in the Diaspora endorsed his candidature.

The group under the aegis of Omo Olowu Oduru in Diaspora gave the endorsement in a communique issued by the coordinator Engr Oluyemi Ogundele from Vienna, Austria.

CBN strengthens diaspora ties to boost Nigeria’s economy – ITREALMS

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The Central Bank of Nigeria (CBN) has strengthened diaspora ties to boost the nation's economy, reports ITREALMS.

This followed CBN-led top-notch stakeholder's engagement with the Nigerian Diaspora community in Houston, Texas, United States of America, at a forum titled: “Optimizing Remittances to Nigeria: A Vision for the Future.”

LP chairman, Abure applauds diaspora members on commitment - ITREALMS

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The National Chairman of the Labour Party (LP), Mr Julius Abure has thanked the party's Nigerian diaspora faithfuls for their unwavering support and encouragement in the party's avowed commitment to the realization of "a new Nigeria that will be free of the ills of official corruption that has prevented it from attaining its full potentials as a nation."

Abure who kicked off a multi-cities tour of the United States of America with the first stop in Washington DC, spoke at well-attended town hall meetings with Nigerians who asked questions on wide ranging issues of concern relating to their country. 

LP chairman, Abure applauds diaspora members on commitment - ITREALMS

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LP chairman, Abure applauds diaspora members on commitment - ITREALMS

The National Chairman of the Labour Party (LP), Mr Julius Abure has thanked the party's Nigerian diaspora faithfuls for their unwavering support and encouragement in the party's avowed commitment to the realization of "a new Nigeria that will be free of the ills of official corruption that has prevented it from attaining its full potentials as a nation."

Abure who kicked off a multi-cities tour of the United States of America with the first stop in Washington DC, spoke at well-attended town hall meetings with Nigerians who asked questions on wide ranging issues of concern relating to their country. 

Igbo culture and diaspora: The AASDU Lagos philosophy - ITREALMS

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Ndi Igbo worldwide are members of the Jewish race, according to historical facts. They trace their origin and network to the destruction of the hominid by flood, and the eventual covenants God had with Noah and the Patriarchs. 

Global cultural mappings have consistently identified unique trends and patterns of culture that are now classified as Igbo cultural heritage. As a distinctive group of the human race, Ndi Igbo have a peculiar worldview through which they tame and subdue whatever socio-economic and political environment they find themselves, time and space notwithstanding.

Tinubu/Shettima Diaspora Support Group Limited surfaces - ITREALMS

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Despite the hullaballoo over the diaspora support group accounts, the ruling Federal Government of Nigeria’s All Progressive Congress (APC) of President Muhammadu Buhari owned ‘Tinubu/Shettima Diaspora Support Group Limited’ has been discovered, reports ITREALMS.

The company which is registered in the United Kingdom since 15 July 2022 comes as number 14237072; a company registered with guarantee.

FGN accuses Nigerians in diaspora of funding secessionist groups - ITREALMS

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The Federal Government of Nigeria has accused some Nigerians in Diaspora of funding secessionist groups, reports ITREALMS.

The government made this accusation through the Federal Minister of Information and Culture, Alhaji Lai Mohammed during an audience he granted members of the United Kingdom (UK) chapter of the Nigerians in Diaspora Organisation (NIDO) in Abuja, Tuesday.

Alarmed! Some Nigerians in diaspora still rely on fake news says Lai Mohammed - ITREALMS

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The Minister of Information and Culture, Alhaji Lai Mohammed has been alarmed that some Nigerians in Diaspora are still relying on unidentified platforms that purportedly peddle fake news and misinformation about Nigeria, reports ITREALMS.

Alhaji Lia Mohammed

Mohammed in his remarks during the visit of members of the United Kingdom (UK) chapter of the Nigerians in Diaspora Organisation (NIDO) in Abuja, Tuesday, expressed shock that alleged fake news platforms still have the ears of diasporans.

Kemi Adeosun dedicates court judgement to Nigerians in diaspora - ITREALMS

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The former Minister of Finance, Mrs. Kemi Adeosun has dedicated the court judgement on Wednesday over the National Youth Service Corp (NYSC) certificate saga to Nigerians in diaspora, reports ITREALMS.

Adeosun, ITREALMS recalls was exonerated her of any liability in getting certification of clearance from NYSC, before she could be appointed to any office in the country.

FBNQuest highlights investment opportunities for diaspora Nigerians - ITREALMS

ITREALMS:

FBNQuest Asset Management, a part of the FBN Holdings Plc Group, has called on Nigerians in the Diaspora to take advantage of the numerous investment opportunities available in Nigeria, reports ITRealms.

This call was made at the just-concluded Nigerians in Diaspora Global Development Conference in London. 

The conference presented a rare opportunity for Nigerians in the diaspora to engage in constructive and interactive sessions, with key decision makers across different industries in Nigeria encouraging stakeholders to partner and collaborate on investment schemes. 

A major highlight of the event was the unveiling of the NIDO-led $20 million Diaspora Housing Investment Fund, a closed end investment fund to be privately placed and constituted under a Trust Deed with a suitable Commercial Trustees to be selected. 

The fund will be established through the issuance of the similitude of a real estate investment trust scheme which will provide opportunities for individual and institutional investors to participate in the Nigerian real estate sector.

The conference yielded fruitful discourse and exchange of ideas that examined the intersections between investment in human capital, natural resources, entrepreneurship, innovation and technology in Nigeria. 

As one of the major sponsors of the conference, FBNQuest Asset Management called on Nigerians in the Diaspora to offer strategic expertise in their various endeavours to impact the country with knowledge and financial capacity, especially by way of investment. 

Speaking during the conference, Managing Director, FBNQuest Asset Management, Ike Onyia, said: “We want to partner with the Diaspora community through NIDO and its members. As a member of one of the leading financial services groups in Africa, we are well-positioned to serve the diaspora community professionally and to ensure their aspirations in the area of maximising investment returns are fulfilled. 

“FBNQuest Asset Management is open to partnerships that will unlock the potential of the Nigerian diaspora community as a source of economic development. We provide bespoke solutions to organizations and individual investors looking to set up structures that can help them achieve their investment goals. As a trusted advisor and credible partner with sound local knowledge and a rich pedigree, we will help them navigate through opportunities in the homeland.”

FBNQuest Asset Management is a leading asset manager in Nigeria for individual and institutional investors, guiding clients through Africa’s dynamic markets, while identifying the best opportunities to shape portfolios in line with specific investment goals. 

The firm was recognised as the “Best Asset Manager in Nigeria” in the prestigious Euromoney Private Banking and Wealth Management Survey 2017, which is the industry’s leading barometer of the world’s best service and product providers. 

The survey covers 15 different product and client categories and has ranking results in 70 countries in which FBNQuest Asset Management emerged number one in Nigeria.

Nenye Dom/GEE

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DMO: Tapping Diaspora Resources for National Development

Commentary@ITRealms:

It is time again for Nigerians living abroad to think home. In the age of globalisation, Nigerians in the Diaspora do not have to return home to contribute to the development of their country. They can do so through several means and ways. And one of these is to subscribe to the Diaspora Bond issued by Nigeria’s Debt Management Office, DMO.

The Federal Government of Nigeria (FGN) on June 13, 2017, through the DMO, commenced road shows in the United States, United Kingdom and Switzerland, for the country’s first Diaspora Bond of 300 million dollars.

The Director-General of the DMO, Dr. Abraham Nwankwo is leading the FGN delegation comprising representatives from the Central bank of Nigeria, Ministry of Finance to the roadshow. The Minister of Finance, Mrs. Kemi Adeosun is currently engaged with working details of the newly signed 2017 budget – hence her inability to lead the roadshow.

The nation’s debt office, DMO has already filed a registration statement for the bonds with the U.S. Securities and Exchange Commission. Documents sighted on the Diaspora Bond indicate that application would be made for the bonds to be admitted to the official list of the UK Listing Authority and the London Stock Exchange to ensure that the bonds were admitted to trading on the London Stock Exchange’s regulated market.

The document added that there would be a series of investors meetings in the UK, the U. S. and Switzerland from June 13. It further noted that pricing was expected to occur following the investor meetings and subject to market conditions. The bonds will be direct general obligations of Nigeria and will be denominated in U.S. dollars. The international Joint Lead Managers are Bank of America Merrill Lynch and The Standard Bank of South Africa Limited, while the Nigerian Joint Lead Managers are First Bank of Nigeria Limited and United Bank for Africa Plc.

So what are Diaspora Bonds? They are simply bonds issued by a country to its own citizens’ abroad (Diaspora) to tap in their wealth in the adopted developed countries. They are essentially a form of government debt that targets members of the national community abroad. Sale of the bond can be restricted solely to members of a particular nationality or opened to all buyers, with nationals receiving a preferential rate.

The bond represents an opportunity for cash-strapped developing countries to gain access to the financial resources of their citizens abroad, something that has been tried and tested by two countries with famously large and industrious diaspora populations- Israel and India. For governments that have large diaspora populations, the bonds provide an opportunity to tap into a capital market beyond international investors, foreign direct investment, or loans. It is an attractive source of funding for governments that have experienced difficulties raising money on the international market or attracting investment.

While Nigeria is not among countries unable to raise funds from the international markets or attract foreign investments, her citizens are among the largest, and perhaps the richest diaspora populations in the world. There are over 17 million Nigerians in The Diaspora who send money home annually for various reasons. The total remittances by such Nigerians ranks second to the proceeds from petroleum as foreign exchange earners.  United Kingdom and United States of America are said to have over two million Nigerians each.

According to the World Bank’s Migration and Remittances Fact book 2016, remittances from Nigerians living abroad hit $20.77 billion in 2015, making Nigeria the sixth largest recipient of remittances in the world.

The report says remittances to Nigeria rose every year over the last decade from $16.93 billion in 2006 to $20.83 billion in 2014. And in 2016, remittances by Nigerians abroad were over $35 billion. This was the highest in Africa and the third largest in the world.

The top two sources for Nigerian diaspora remittances in 2015 were the United States ($5.7 billion) and the United Kingdom ($3.7 billion).

Between 2011 and 2014, Nigerians in the Diaspora had remitted $63.17billion (N10.35trillion) into the country. Analysis of remittances showed that $11billion (N1.8trillion) was remitted in 2011, $21billion (N3.44trillion) in 2012, $20.77billion (N3.40trillion) in 2013 and $10.40billion (N1.7trillion) in the first half of 2014. The global top ten remittance recipients this year were India ($72.2bn), China ($63.9bn), the Philippines ($29.7bn), Mexico ($25.7bn), France ($24.6bn), Nigeria ($20.77bn), the Arab Republic of Egypt ($20.4bn), Pakistan ($20.1bn), Germany ($17.5bn), and Bangladesh ($15.8bn).

Nigeria tops the top ten remittance recipients in Africa with $20.77bn, followed by Ghana ($2.0bn), Senegal ($1.6bn), Kenya ($1.6bn), South Africa ($1.0bn), Uganda ($0.9bn), Mali ($0.9bn), Ethiopia ($0.6bn), Liberia ($0.5bn), and Sudan ($0.5bn).

This is a huge potential source of funding for Nigeria which has battled deficits in the national budgets in recent years. The DMO under the cerebral Dr. Abraham Nwankwo has hit another first-initiative with a potential to be a game changer. He is leading Nigeria to become the first African country to experiment with the Diaspora Bond.

It speaks to the synergy within the President Muhammadu Buhari’s cabinet that all are working together to realise the economic vision of the government. Kemi Adeosun, the Minister of Finance, had hinted in February that the Diaspora Bond would be rolled out within the year. The National Assembly too was brought on board to support and approve it.

Abike Dabiri-Erewa, Senior Special Assistant to the President on Foreign Affairs and Diaspora has also urged all Nigerians to take advantage of the first ever Diaspora offer by buying into the bond.

A statement from her office explained that the Diaspora Bond will be used to raise funds from Nigerians in the Diaspora to finance capital projects and provide an opportunity for them to participate in the development of the country.

She said her office as well as Nigerians in the Diaspora was excited as the first ever Diaspora Bond is being rolled out to the benefits of Nigerians. She noted that the issuance of the bond was a unique way of lubricating the interest of Nigerians in the Diaspora to participate in the developmental projects being carried out by the Buhari administration.

As part of measures to fund capital expenditures, the Federal Government had in February announced an offer of $1 billion Euro Bond under its newly-established $1 billion Global Medium Term Note programme. The DMO has also successfully launched a Federal Government Savings Bond (FGNSB).

*Contributed by Mrs. By Abimbola Johnson, from Abuja.

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Nigeria welcomes diaspora support to diversify economy - PMB

ITRealms:

President Muhammadu Buhari has said his administration will continue to welcome support and investments from the international community in the agricultural and solid minerals sectors as Nigeria moves to reduce dependence on crude oil, reports ITRealms.

In a farewell audience with the outgoing Ambassador of the Republic of Sweden to Nigeria, Mr. Svante Kilander, in the State House, President Buhari said the Federal Government would create the enabling environment for local and foreign investments in farming, animal husbandry, fishery and the exploration of solid minerals.

The President said in a press statement by Senior Special Assistant on Media and Publicity, Malam Garba Shehu, a planned visit by some Swedish trade and investment delegations to the country later in the year would further encourage the ongoing process of diversifying the Nigerian economy.

President Buhari commended the Swedish government for the support extended to Nigeria in catering for the needs of Internally Displaced Persons (IDPs) in the North East and the ongoing reconstruction of the areas affected by terrorist attacks.

In his remarks, the Swedish Ambassador said his country was pleased with the sweeping changes taking place across the country with clear results in the fight against terrorism and corruption.

Kilander said his country would continue to strengthen bilateral relations with Nigeria by encouraging more trade and investments between both countries.

Receiving special envoys from President Salva Kiir Mayardit of the Republic of South Sudan and President Al-Bashir of the Republic of Sudan separately, President Buhari advised the two countries to avoid the trap of getting into a mono-cultural economy like Nigeria by diversifying their economies early.

The President also advised the two countries to be more vigilant on security by stemming recruitment of young people by terrorist groups.

He said Nigeria would continue to support the transitional government that had been put in place in South Sudan.

The leader of the South Sudan delegation, who is a Senior Presidential Adviser on Peace, Mr. Nhial Deng Nhial and the leader of the Sudan delegation, Ismail Abdul-Raheem, who is the State Minister, Foreign Affairs, assured President Buhari of their commitment to strengthen bilateral relations.

Both envoys commended Nigeria for the leadership role it had played to ensure peace and stability in their countries.

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IFIP president, Hinchey leads diaspora participation to NCS 26th confab

ITRealms:

The President-elect of the International Federation for Information Processing (IFIP), Prof. Mike Hinchey, has been confirmed to lead the international participation to the 26^th national conference of the Nigeria Computer Society (NCS) at the Federal Capital Territory, Abuja, reports ITRealms.

Disclosing this, President, Nigeria Computer Society (NCS), Prof. Adesola Aderounmu, said that Mike Hinchey will deliver the goodwill message during the opening ceremony and serve as keynote speaker during a plenary session on "Innovation in National Safety and Security."

He also said that IFIP, established in 1960 under the auspices of UNESCO, is the leading global organization in Information and Communications Technologies and Sciences, thus is recognized by the UN, as the body representing IT societies from all over the world, of which NCS is a member of IFIP.

NCS, he said, is the umbrella body of all IT professionals and organizations in Nigeria, with over 17,000 members and major interest groups namely the Institute of Software Professional of Nigeria (ISPON), IT Association of Nigeria (ITAN), Internet Service Providers Association of Nigeria (ISPAN), Nigeria Women in IT (NiWIIT), Nigeria IT Professionals in Civil Service (NITPCS) among others, in addition to one hundred thousand Student body, the National Association Computer Science Students (NACOSS).

Therefore, he said, NCS is preparing for the best and has assembled impressive leading researchers, entrepreneurs, educators, industry experts, thought leaders, international scholars and subject matter experts as speakers and resource persons to share their extensive knowledge and experience on the theme and sub themes.

“Attendees will benefit greatly from their knowledge and insights,” he said.

The conference, Aderounmu further said, would focus on important issues related to the theme and sub themes such as national database – Integral to National Security, Information Technology and the National Security Strategy, Universal Broadband Access – the Security Imperative, Information Technology as an Indispensable Security Tool – Terrorism in Focus, Smart Governance and Anti-Corruption through Information Technology, National Security Dimension of Youth Innovation and Software Development, Cybercrime, Cyberwarfare and CyberSecurity, Digital Human Capital Requirements in the 21st Century and Social, Mobile, Analytics (Big Data) and Cloud Computing (SMAC).

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Pix: Prof. Hinchey

Medical Vacation: Buhari likely to be treated by Nigerian professional in diaspora

ITRealms:

There is a likelihood that some members of the Nigerian medical practioners in diaspora could form part of the team to treat President Muhammadu Buhari during his medical vacation in the United Kingdom, on his suspected Ear, Nose and Throat (E.N.T) ailment, reports ITRealms.

This indication was given by the former President of the Nigerian Medical Association (NMA) and current vice president, Commonwealth Medical Association (CMA), Dr. Osahon Enabulele, asserting that Nigeria has in excess of 8000 medical doctors in diaspora.

According to him, over 3,000 Nigerian trained medical doctors are practicing in the United Kingdom alone, where the President was purported referred to, which makes it impossible for him to be treated without likelihood of a Nigerian doctor in the team.

Also in the United States of America, he said, there are over 5000 Nigerian trained medical doctors, amongst other foreign countries, stressing that most of whom left the shores of Nigeria on account of government’s perennial failure to address the various push and pull factors which have consistently driven this yearly brain drain phenomenon in Nigeria.

As at last count, he said, available records showed that last year (2015) alone, 637 medical doctors emigrated due largely to poor working conditions and health facilities, insecurity, unpredictable and poor funding of Residency Training Programme, uncompetitive wages and job dissatisfaction.

ITRealms recalls that Presidency had on Sunday informed Nigerians that President Buhari would be on a 10-day medical vacation to UK where he has been referred to see an E.N.T specialists.

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NUSACC mobilizes $1b Diaspora fund for Nigeria

ITRealms

The Nigeria-USA Chamber of Commerce (NUSACC) has concluded plans to raise $1 billion, about N198.95b Diaspora funds for development in Nigeria, reports ITRealms.

The fund meant to close infrastructure gap in Nigeria, will be mobilized at the 5th International Summit of the Chamber between August 27 and 29, 2015, at Mayflower Renaissance Hotel in Washington DC, the United States.

According to Primus Igboaka, secretary, NUSACC, the business-to-business match-making event will provide opportunities for personal interactions between United States business leaders and Nigerian entrepreneurs, while also creating a platform for them to showcase their products and services, ITRealms gathered.

“They are avenues for market meetings, presentations and match-making between businesses and key industry players,” Igboaka said, adding that players in agriculture, construction and real estate, energy and power, information and communication technology (ICT) and franchising, among others, are expected to be there.

Nigerian Ambassador to USA, Adebowale Adefuye, ITRealms reports, will be the key note speaker, while former minister of finance and coordinating minister for the economy; Dr. (Mrs) Ngozi Okonjo-Iweala, will be joined by the consul- general of the Federal Republic of Nigeria in US, Habib Baba Habu, as speakers.

The Nigeria-USA Chamber of Commerce, incorporated in 2009 in the State of Ohio as a non-profit organisation, functions as a unique business and legislative advocacy organization comprising members and professionals with business management, finance and accounting backgrounds.

Cyriacus Nnaji/GEE with additional report by BusinessDay

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BVN enrolment: CBN gives special concession to Nigerians in Diaspora

ITRealms:

The Central Bank of Nigeria (CBN) has said it would give special concession to Nigerians in diaspora to enable them get or activate their Bank Verification Number (BVN) in the country, reports ITRealms.

Disclosing this, the Special Adviser on Communication to CBN Governor, Mr. Ugo Okoroafor, while fielding questions on Channels TV Business Morning on Monday monitored in Lagos by ITRealms, said this is the only anticipated shift in the BVN exercise which commenced last year.

ITRealms recalls that last September, CBN along with banks began Bank Verification exercise to ascertain the owners of bank accounts across the country, which is expected to come to an end on Tuesday, June 30, 2015.

ITRealms gathered that with this development Nigerians living in the United States (US), United Kingdom (UK) or any other part of Europe are not part of those who may be cut up with the June 30^th deadline for the registration or obtaining of BVN.

This is against the initial directive that Nigerian banks customers living outside the country must come back to the country to enroll. 

Okoroafor also disclosed that out of the 40m accounts in the country less than 20m have been registered as at the time of the interview.

He urged Nigerians, especially account owners to ensure they obtain their BVN between today and tomorrow.

According to him, special attention is being packaged for Nigerians in diaspora because of the peculiarity of their various countries and time zones among other exigencies, which will be avail such group.

However, every BVN expires in the 10th year.

+Remmy Nweke (ITRealms) 

 

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