Army thwarts ISWAP ambush, kills IEDs specialist, 3 others in Borno; Termites ‘eat up’ NSITF documents containing expenditures worth N17bn | 5 Things That Should Matter Today

  • Army thwarts ISWAP ambush, kills IEDs specialist, 3 others in Borno
  • Termites ‘eat up’ NSITF documents containing expenditures worth N17bn
  • Nigeria’s inflation hits 17-year high amid soaring food prices
  • Policeman gets IGP award for rejecting $200,000 bribe from robbers
  • E-Payments In Nigeria Hit N204.5 Trillion Between January And July 2022 – NIBBS

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldnt miss:

Army thwarts ISWAP ambush, kills IEDs specialist, 3 others in Borno

In an ambush attack in Borno State on Sunday, troops from the 25 Brigade’s Operation Hadin Kai killed Modu Tafjid, a top IED expert for the Islamic State of West Africa (ISWAP), along with three other terrorists.

According to sources, the soldiers and the Civilians Joint Task Force defeated an ambush set up by the ISWAP in Kumala village on the Maiduguri-Damboa Road, killing the terrorists.

Zagazola Makama, a counterterrorism expert and security analyst in Lake Chad, who confirmed the attempted attack’s failure, claimed that the terrorists set off an explosive inside one of the troops’ patrol cars before firing a lot of shots.

They noted that Modu Tafjid, an IED specialist who led the ambush, and three others were killed in the aftermath of the fight, while several other terrorists managed to flee with gunshot wounds. The sources claimed that vigilante troops engaged the terrorists and defeated them after a fierce gun battle.

He said that while the Nigerian Air Force Sky Hawk provided air cover and led the troops who further exploited the ambush site, more reinforcement was swiftly mobilized to the spot from Damboa.

He stated that after being wounded in battle, one soldier and two members of the Civilian Joint Task Force were flown to Damboa for medical attention.

The sources also said that weapons, magazines, RPG TUBE 1, 36 hand grenades, supplies for building IEDs, cord, 21 detonators, and fuses were among the equipment found after the fight.

Termites ‘eat up’ NSITF documents containing expenditures worth N17bn

The Nigeria Social Insurance Trust Fund (NSITF) claims that termites destroyed paperwork used to support the agency’s present and previous management’s expenditure of N17.158 billion.

The managing director of NSITF, Michael Akabogu, stated during his testimony before the Senate committee investigating the organization for financial misconduct that rain might have potentially ruined the records.

He said that the container in which the documents were stored had been left in a remote location of the agency’s Abuja headquarters.

The NSITF’s current and previous management had been called in for an interview by the Senate Public Accounts Committee (SPAC), which is chaired by Senator Matthew Urhoghide (Edo South), over the transfer of the N17.158 billion before placing them under scrutiny.

The committee, led by Mr. Urhoghide, claimed to have learned that the agency’s administration had neglected to present pertinent paperwork to support the alleged expenditures between January and December 2013.

The NSITF boss nevertheless informed the committee that he informed the agency’s prior management officers to assist in providing the required documentation to answer the question.

The Office of the Auditor-General of the Federation raised a concern in its 2018 audit report, prompting the committee to launch its investigation.

50 separate queries regarding the alleged theft of funds against the agency were raised in the audit report.

Umar Munir Abubakar, the managing director of NSITF from 2010 to 2016, was reportedly aware of the query but offered no explanations because the audit exercise was not conducted during his term.

Adebayo Somefun, who served as his successor from May 2017 until July 2020, is said to have insisted that individuals working in the agency’s account section be allowed to track the documents.

Both former and current NSITF management members were requested to make a second appearance before the panel by September 22 with all required transactional evidence.

Nigeria’s inflation hits 17-year high amid soaring food prices

Nigeria’s inflation rate increased to 19.64 percent in July, the highest level since September 2005, according to data released on Monday by the National Bureau of Statistics (NBS).

The consumer price index (CPI), which gauges how quickly prices for goods and services fluctuate, increased by 18.60 percent from the previous month to a 17-year high.

The increase was observed in the context of rising food inflation, which in July increased from 20.60 percent to 22.02 percent. Price rises for bread and cereals, food items, potatoes, yams, and other tubers, as well as for meat, fish, oil, and fat were the main contributors to the increase in the food index.

“The percentage change in the average CPI for the twelve months period ending July 2022 over the average of the CPI for the previous twelve months period was 16.75%, showing a 0.46% increase compared to 16.30% recorded in July 2021,” the report said.

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Policeman gets IGP award for rejecting $200,000 bribe from robbers

Kano—Inspector General of Police Usman Baba has recognized Policeman Daniel Amah with a commendation for turning down a $200,000 bribe from armed robbery suspects.

When presenting the award to Amah yesterday, IGP Baba, who was represented by DCP Abubakar Zubair of the Deputy Commission of Police, lavished him with praise.

According to reports, SP Amah oversaw the arrest and prosecution of Ali Zaki, along with a few other police officers, in a case of armed robbery totaling 320,000,000 Naira (N320,500,000 million).

Amah reportedly turned down an offer of roughly N100 million from the primary suspect to help him cover up the crime.

The IGP gave Amah an award for professionalism and superior work ethics because he was impressed by his great performance.

E-Payments In Nigeria Hit N204.5 Trillion Between January And July 2022 – NIBBS

According to the Nigeria Inter-Bank Settlement Systems (NIBSS), the NIBSS Instant Payment platform enabled transactions totaling N204.5 trillion to be carried out electronically in Nigeria between January and July of this year (NIP). The comparison to the N145.8 trillion recorded in the same period last year, demonstrates a 40% growth in e-payments in the nation.

The rise in electronic transactions indicates that more Nigerians are adopting the Central Bank of Nigeria’s cashless policy (CBN).

The value of e-payments recorded, according to NIBSS, was a reflection of the rise in the number of transactions throughout the time. The NIP volume increased by 42% over the 1.9 billion registered in the same time the previous year, reaching 2.7 billion in the past seven months.

Monthly Evaluation

  • The NIP platform recorded N26.6 trillion in transactions in January, according to a review of the 7-month statistics that was just released by NIBSS. This represented a 43.7% rise over the N18.5 trillion registered in the same month previous year, year over year.
  • Similar transactions totalling 27.2 trillion were made over the internet in February. This was a 48.6% increase over the N18.3 trillion figure for February 2021.
  • A 44.5% rise over the N22 trillion registered in the same month last year, the platform generated N31.8 trillion in transactions in March.
  • In April of this year, the NIP platform had transactions worth N29.2 trillion. A 41.6% rise over the N20.6 trillion reported in April 2021 is also shown by this.
  • The value of e-payment transactions was N29.6 trillion in May, up 43% from N20.7 trillion in the corresponding month previous year.
  • In June 2022, NIP transactions increased to N31.7 trillion, a 37% increase over the N23.1 trillion reported at the same time in 2021.
  • A 31% increase from N22.4 trillion last year to N29.3 trillion this year was also seen in the July figures.

In 2011, NIBSS created the NIBSS Instant Payments (NIP), an account-number-based, real-time online Inter-Bank payment service. It is the favored cash transfer platform in the Nigerian banking sector since it ensures that the receiver receives value right away.

NIBSS claims that throughout time, Nigerian banks have exposed NIP to their clients through a variety of channels, including online banking, bank branches, kiosks, mobile apps, Unstructured Supplementary Service Data (USSD), point-of-sale (POS), ATMs, etc.).

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