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May delays parliament vote on Brexit deal

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British Prime Minister Theresa May on Monday abruptly postponed a parliamentary vote on her Brexit deal, throwing Britain’s plan to leave the European Union into chaos after admitting that she faced a rout.

Her decision was promptly challenged by the speaker of the lower house of parliament, John Bercow, who said MPs be given a vote on the decision to defer the vote on the deal itself.

“I politely suggest that in any courteous, respectful and mature environment, allowing the house to have a say would be the right and, dare I say it, the obvious course to take,” Speaker Bercow said.

May’s move on the eve of the scheduled parliamentary vote opens up an array of possible outcomes, ranging from a disorderly Brexit with no deal to another referendum on EU membership. May’s own position could be in jeopardy, with calls from opposition parties for her to step aside.

May said she still intended to put her deal to members of parliament. But she would first ask the EU for more “reassurances” over the main bone of contention: a “backstop” to ensure no hard border on the island of Ireland, which her critics say means Britain could end up indefinitely subject to EU rules after it leaves.

Announcing the delay, May was laughed at by some MPs when she said there was broad support for the deal and that she had listened carefully to different views over it – the result of 18 months of tortuous negotiations.

“If we went ahead and held the vote tomorrow the deal would be rejected by a significant margin,” May told parliament, adding that she was confident it was the right deal.

“We will therefore defer the vote scheduled for tomorrow and not proceed to divide the House at this time,” May said. The United Kingdom would meanwhile step up contingency planning for a no-deal Brexit when it is due to leave on March 29.

Sterling GBP=D3 skidded to its weakest level since April 2017, falling to $1.2527. It was trading at $1.50 on the day of the 2016 Brexit referendum.

May accepted there was concern among MPs about the Northern Irish “backstop”.

The provision is intended as an insurance policy to avoid a return to border checks between the British-ruled province and the EU-member Irish Republic. But it also goes to the heart of the Brexit dilemma: allowing Britain to set its own rules outside the EU without disrupting trade.

The backstop requires Britain to abide by some EU rules indefinitely – potentially long after it quits the bloc and gives up say in setting them – unless some future mechanism can be found to ensure a friction-free land border. That prospect is rejected both by supporters of a cleaner break with the EU and those who want to stay inside it.

May said the broader question was whether parliament wanted to deliver on the will of the people for Brexit, or open up the divisions in the world’s fifth largest economy with another referendum.

“If you take a step back, it is clear that this house faces a much more fundamental question: does this house want to deliver Brexit?” May asked.

The leader of the opposition Labour Party, Jeremy Corbyn, said the United Kingdom no longer had “a functioning government” and called on May to “make way” for a Labour government.

The decision to halt the vote came just hours after the EU’s top court ruled that Britain could unilaterally withdraw its decision to leave the bloc on March, 29.

The government did not spell out the mechanism for delaying the vote scheduled for Tuesday.

 

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Access Bank Appoints Uche Orji as Independent Non-Executive Director

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Access Bank Appoints Uche Orji as Independent Non-Executive Director

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

Access Holdings Plc (‘the Company’) is pleased to announce the appointment of Mr. Uche Orji as an Independent Non-Executive Director of its flagship subsidiary, Access Bank Plc (‘the Bank’), effective from January 7, 2025, following the approval of the Central Bank of Nigeria (‘CBN’).

This appointment reflects our commitment to enhancing our governance practices and ensuring a diverse and experienced board.

Mr. Orji is a renowned investment banking professional, information technology entrepreneur, and finance expert with three (3) decades of professional and board experience. He is the Co-founder and Partner of Titangate Capital Management, an equity firm that invests in deep-tech, enterprise software, semi-conductors, hardware, and artificial intelligence companies.

He is the Founder and Director of Vitesse Africa Limited, an investment advisory firm focused on African energy, technology and infrastructure sectors. He serves as an Executive Board member and investor in Ultrasafe AI, an artificial intelligence/IT development firm that maintains strategic collaborations with leading technology companies. He also sits on the Board of Private Infrastructure Development Group, London, and chairs the Risk Committee.

Previously, Mr. Orji served as the founding Managing Director and Chief Executive Officer of Nigeria Sovereign Investment Authority. He held positions as Managing Director and Senior Analyst at UBS Securities Limited New York and Managing Director and Head of European Technology/Semiconductor Equity Research at JP Morgan Securities, London. He also served as Executive Director/Portfolio Manager at Goldman Sachs Asset Management, London. Earlier in his career, he was Acting Financial Controller at Diamond Bank Limited and an Audit Trainee at Arthur Andersen & Co.

He holds a Bachelor of Engineering Degree in Chemical Engineering from the University of Port-Harcourt and a Master of Business Administration from Harvard Business School.

Commenting on the appointment, Mr. Paul Usoro, SAN, the Chairman of the Bank said:

“Mr. Orji has been appointed based on his exceptionally rich professional, academic, and corporate board experience which will be invaluable to the Bank as we continue to pursue our strategic objectives.

We are confident that his addition to the Board would further enrich the quality of our decision-making process, enabling us to deliver even greater value to our customers and stakeholders.

His appointment has been made in accordance with the Bank’s internal policies and has been notified to all relevant regulatory authorities underscoring our commitment to upholding the highest standards of corporate governance.

On behalf of the Board, Management and staff, I warmly welcome Mr. Orji to the Board and look forward to his contributions towards our goal of becoming one of the top 5 African Banks in the shortest possible time.”

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Go and List Your Challenges, Lagos Speaker tells NANS Member During Courtesy Visit

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Go and List Your Challenges, Lagos Speaker tells NANS Member During Courtesy Visit

AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

The National Association of Nigerian Students (NANS), Lagos State University (LASU) branch, on Friday paid a courtesy visit on the Speaker of the Lagos State House of Assembly, Princess Mojisola Lasbat Meranda.

The student representatives said the visit was to congratulate Meranda over her emergence as Speaker of the State Assembly.

Meranda, an alumnus of LASU, was elected Speaker on January 13 after the removal of Mudashiru Obasa by the lawmakers over issues relating to alleged high-handedness and financial impropriety.

Describing her as a thoroughbred Lagosian, the chairman of NANS, Abdulraheem Azeez, used the opportunity to list some of the challenges faced by students in the university.

According to him, students have had to read in darkness as the Ikeja campus gets less than two hours of power supply daily.

Azeez also raised the need for the State to make available loans for indigent students as well as for the Assembly to provide opportunities for students to witness the plenary of the House.

Meranda, while thanking the students for the visit, urged them to always attend town-hall meetings in their constituencies where they can contribute and make their opinions known.

She further encouraged them to apply for the loans initiated by the government as done by students in other countries.

The Speaker requested the students to formally send their complaints in written forms to the House for action.

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EFCC Tasks Corps Members on Corruption

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AJAGBE ADEYEMI TESLIM

SPONSORED BY: H&H

EFCC Tasks Corps Members on Corruption

The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede charge members of the National Youth Service Corps, NYSC, to be change agents and strong resisting force against corruption.

He also enjoined them to be active foot soldiers and whistle-blowers or intelligence-gatherers against corruption.

Speaking on Thursday, January 30, 2025 at the NYSC Orientation Camp, Yikpata, Edu Local Government Area of Kwara State, Olukoyede said It is important for youths to realise that, these roles, if performed creditably, will bring up appreciable growth in the economy of our nation. He said that, “creative energies of youths will be maximised when corruption is brought to its knees.”

The EFCC boss whose address was delivered by the Head, Public Affairs Department, Ilorin Zonal Directorate of the EFCC, Ayodele Babatunde said that most of the problem confronting the country such as kidnapping, banditry, poor infrastructure, among others were connected to corruption. He added that all hands must be on the deck to tame the cankerworm.

Olukoyede encouraged the youths to embrace the virtues of hard work and shun fraudulent practices such as cybercrime noting that, “it’s profitable to earn dignity and fame through hard work and legit business.”

While calling on the youths to channel their potentials productively and shun crime, the EFCC Chair said that, “Yahoo-Yahoo is not a sustainable way of life.”

“There is no shortcut to wealth and fame. The fact that the rate of unemployment is high should not be an excuse to resort to crime. Act of criminality might deliver wealth in the short term but there will be misery and gnashing of teeth”, he said.

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