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6 Nigerian Startups Attain Billion Dollar Status — Osinbajo

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Vice President Yemi Osinbajo says no fewer than six startups owned by young Nigerians have grown from scratch to billion dollar businesses in recent years.

Osinbajo was the Special Guest of Honour at the Graduation Ceremony of Senior Executive Course 43, 2021 of the National Institute for Policy and Strategic Studies (NIPSS), Kuru, Jos.

He said that as at 2021, more than six of such companies had been named Unicorns– a company that is worth over a billion dollars.

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Osinbajo attributed the feat of the startups to providence and good policies.

“Six of those companies started between 2016 in the middle of two recessions and global health crisis.

“The companies are: Opay, Paystack, Flutterwave, Andela, PiggyVest and Jumia.

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“ Paystack and Flutterwave. Paystack was co-founded in 2016 by two graduates of Babcock University, in their twenties.

“ Paystack is a payment processing company; I am sure many have heard that it was eventually bought over by Stripe, the American multinational; it is now estimated to be worth a billion dollars.

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“Flutterwave, also a payment processing coy founded in 2016; Flutterwave in Lagos; it is now worth nearly three billion dollars and both companies employ hundreds of young men and women.’’

He said that PiggyVest was co- founded in 2016 by ex students of Covenant University led by 21-year-old lady.

According to him, PiggyVest is a wealth management platform that at the end of 2019, had helped one million users save about 80 million dollars.

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“What is responsible for some of these successes? Providence and good policies.

“Providence because COVID-19 was a boom period for online payment systems.

“Policy because the president approved the establishment of a technology and creativity advisory group that helped to formulate new banking policies to accommodate new tech enabled payment systems, such that these tech companies could process payments without being full scale banks.

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“ The Central Bank of Nigeria (CBN) was then able to issue new types of licences for payment processing; the Federal Government has established a N75 billion National Youth Investment Fund.

READ ALSO: 20 States Yet To Key Into National Housing Programme, FG Receives 7,315 Applications With 6 Days

“This provides financial support for small businesses in any field.’’

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The vice president said that CBN had also established a Creative Sector Fund for young people in entertainment or technology.

He said there was the new programme called Investing in Digital and Creative Enterprises (iDICE) programme.

According to Osinbajo, iDICE is an over 600 million dollars programme that will support young tech and creative sector entrepreneurs through the provision of finance, skills development and infrastructure.

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“Earlier this year, the federal government partnered with the UNDP and the private sector to start a programme called the Jubilee Fellows internship programme.

“ For the next five years every year 20,000 students after youth service will be given internship opportunities in private sector companies and in public agencies.

“The idea will be for the participants to gain relevant career and life skills that will enable them transition seamlessly into professional, business or public sector careers, while also earning very good pay during the internship.

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“These snapshots of possibility are enough to show us that we are not facing an uncertain future without any tools at our disposal.’’

The vice president said, however, that if Nigeria was to inaugurate a new age of accelerated growth, it must adopt a new strategic direction and policy orientation.

Osinbajo said that adoption of a new strategy was what the Federal Government sought to do through the National Development Plan 2021-2025 which was recently approved by the Federal Executive Council.

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“ In terms of strategic direction, the cornerstone of our strategy is boosting productivity by focusing on value addition as the guiding principle for all sectors, especially agriculture, manufacturing, solid minerals, digital services, tourism, hospitality, and entertainment.

READ ALSO: Again, Another Building Collapses In Lagos, 4 Dead, 5 Injured

“ In agriculture, for example, just as we seek to increase production of rice, we are paying equal attention to other parts of the value chain such as storage, transportation, processing and marketing,’’ he said.

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(DAILY POST)

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Voters In Turkish Cyprus Reject Erdogan-backed Leader In Presidential Election

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The breakaway territory of northern Cyprus has voted overwhelmingly to replace its outgoing leader, who had the backing of Turkish President Recep Tayyip Erdogan, election officials said Sunday.

Almost 63 per cent of voters in the territory, whose claim to statehood is recognised only by Turkey, backed former prime minister Tufan Erhurman as next president at the expense of Turkey’s pick, Ersin Tatar, who polled 35 per cent.

Cyprus has been divided since 1974, when a Turkish invasion following a coup in Nicosia backed by Greece’s then-military junta eventually led to the creation of the Turkish Republic of Northern Cyprus in 1983.

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The internationally recognised Republic of Cyprus, a member of the European Union, controls the island’s majority Greek Cypriot south.

While Tatar has toed the Turkish line of two separate states on Cyprus, Erhurman has indicated he favours a federal state that would include both sides of the island.

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Erhurman said there were no losers in the election and that “the Turkish Cypriot people have won together”.

READ ALSO:Turkey Deports 103 Nigerians

“I will exercise my responsibilities, notably in terms of foreign policy, in consultation with the Republic of Turkey,” he said, trying to soothe concerns from Ankara that he may try to break away.

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Erdogan congratulated Erhurman in a post on social media, adding that Turkey would “continue to defend the rights and sovereign interests” of the breakaway territory.

The last major round of peace talks to negotiate a settlement to the island’s divided status collapsed in Switzerland in 2017.

The leaders of both sides met in July at the UN headquarters in New York for talks that were hailed as “constructive” by UN chief Antonio Guterres.

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Thieves Steal French Crown Jewels From Louvre In Daytime Raid

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Thieves wielding power tools raided the Louvre in broad daylight Sunday, taking just seven minutes to grab some of France’s priceless crown jewels, but dropping a gem-encrusted crown as they fled, officials and sources said.

Authorities recovered the 19th-century crown — damaged — near the museum.

The spectacular heist, one of several to target French museums in recent months, forced the closure of the Louvre, the world’s most-visited museum and home to the Mona Lisa.

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President Emmanuel Macron posted on social media that “everything is being done” to catch the perpetrators and recover the stolen items.

Police are looking for a team of four thieves, Paris’s chief prosecutor Laure Beccuau told the BFMTV channel.

Soldiers patrolled the famed glass pyramid entrance, while evacuated visitors, tourists and passersby were kept at a distance behind police tape.

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It was “like a Hollywood movie”, one American tourist, Talia Ocampo, told AFP.

It was “crazy” and “something we won’t forget — we could not go to the Louvre because there was a robbery”, she said.

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A culture ministry statement said eight items of jewellery had been stolen from the Gallerie Apollon that houses the French crown jewels.

“Two high-security display cases were targeted, and eight objects of invaluable cultural heritage were stolen,” said the ministry statement.

They included the emerald-and-diamond necklace that Napoleon gave his wife Empress Marie Louise, and the crown of Empress Eugenie, the wife of Napoleon III.

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Beccuau said the thieves had threatened museum guards with the angle grinders they used to break into the jewellery cases.

A team of 60 investigators was working on the case, she added.

– ‘Unsellable’ –

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The robbers used a powered, extendable ladder of the sort used to hoist furniture into buildings to get into a gilded gallery housing the crown jewels, said officials.

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Eugenie’s crown was recovered after the thieves dropped it as they made their escape, said the culture ministry statement.

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The crown, featuring golden eagles, is covered in 1,354 diamonds and 56 emeralds, according to the museum’s website.

Interior Minister Laurent Nunez said the thieves had used the furniture hoist to steal “priceless” items from two displays in the museum’s “Galerie d’Apollon” (“Apollo’s Gallery”).

The items stolen also included a necklace from the sapphire jewellery of Queen Marie Amelie and Queen Hortense and a pair of emerald earrings that once belonged to Marie Louise, said the culture ministry.

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The thieves arrived between 9:30 and 9:40 am (0730 and 0740 GMT), the source following the case said, shortly after the museum opened to the public at 9:00 am.

One police source said the robbers had ridden up on a scooter armed with angle grinders and used the furniture hoist to get inside the Louvre.

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A witness named Samir, who was riding a bicycle nearby at the time, told the TF1 channel that he saw two men “get on the hoist, break the window and enter… it took 30 seconds”.

He said he saw four of them leave on scooters, and he called the police.

The robbery happened just 800 metres (half a mile) from Paris police headquarters.

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The Louvre’s management told AFP it had closed because it wanted to “preserve traces and clues for the investigation”.

The director of the Drouot auction house told the LCI broadcaster he feared the jewels would be broken down into gems and precious metal to be sold, as they would be “completely unsellable in their current state”.

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– ‘Great vulnerability’ –

The Louvre used to be the seat of French kings until Louis XIV abandoned it for Versailles in the late 1600s.

It is the world’s most visited museum, last year welcoming nine million people to its extensive hallways and galleries.

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Nunez, the capital’s former police chief who became interior minister last week, said he was aware of “a great vulnerability” in museum security in France.

Last month, criminals used an angle grinder to break into Paris’s Natural History Museum, making off with gold samples worth 600,000 euros ($700,000).

Thieves earlier in the month stole two dishes and a vase from a museum in the central city of Limoges, the losses estimated at 6.5 million euros.

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Last year, four thieves stole snuffboxes and other artifacts from another Paris museum, breaking into a display case with axes and baseball bats.

But thefts from the Louvre have been rarer.

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A painting by French painter Camille Corot disappeared from the museum in 1998 and has never been recovered.

In 1911, an Italian worker at the museum stole the Mona Lisa, but it was recovered and today sits behind security glass.

Macron in January pledged the Louvre would be redesigned after its director voiced alarm about dire conditions inside. On Sunday, he said that that project included reinforced security.

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Dati said Sunday that new security measures would be part of the renovation plan.

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Pope Leo Creates Seven New Saints In Historic Vatican Ceremony

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Bells rang out Sunday over St Peter’s Square as Pope Leo XIV created seven new saints, including the first from Papua New Guinea, an archbishop killed in the Armenian genocide, and a Venezuelan “doctor of the poor.”

Also canonised during the solemn ceremony, under sunny skies in the vast plaza on World Mission Day, were three nuns who dedicated their lives to the poor and sick and former Satanic priest Bartolo Longo.

The Italian lawyer born in 1841 subsequently rejoined the Catholic faith and went on to found the Pontifical Shrine of the Blessed Virgin of the Rosary of Pompeii.

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“Today we have before us seven witnesses, the new Saints, who, with God’s grace, kept the lamp of faith burning,” Leo told an audience the Vatican estimated at some 55,000 people.

READ ALSO:Pope Leo XIV Urges End To Exploitation And Hatred In First Address As Pontiff

May their intercession assist us in our trials and their example inspire us in our shared vocation to holiness,” he said during his homily.

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Huge portraits of the seven were unfurled from windows over the square as Leo, the first US pope, exited St Peter’s Basilica dressed in a ceremonial white cassock with a white mitre on his head, preceded by white-clad bishops and cardinals.

Cardinal Marcello Semeraro, prefect of the Dicastery for the Causes of Saints—the Vatican department charged with beatification and canonisation—read aloud profiles of the seven to applause from the crowd.

With Leo’s reading of the canonisation formula, they were officially declared saints.

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In his homily, Leo described the new saints as either “martyrs for their faith,” “evangelisers and missionaries,” “charismatic founders” of congregations, or “benefactors of humanity.”

READ ALSO:Pope Leo XIV Declares Friday Global Prayer, Fasting Day For Peace

The rite of canonisation was the second for the former Robert Prevost since he was made leader of the Catholic Church on May 8.

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Last month, he proclaimed as saints Italians Carlo Acutis—a teenager dubbed “God’s Influencer” who spread the faith online before his death at age 15 in 2006—and Pier Giorgio Frassati, considered a model of charity who died in 1925, aged 24.

Canonisation is the final step towards sainthood in the Catholic Church, following beatification.

Three conditions are required—most crucially that the individual has performed at least two miracles. He or she must be deceased for at least five years and have led an exemplary Christian life.

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READ ALSO:‘I’m Deeply Pained,’ Pope Leo XIV Emotionally Begs World Leaders To End Wars In Ukraine, Gaza

Martyrs, humanitarians

Along with Longo, those made saints Sunday were Peter To Rot, a lay catechist from Papua New Guinea killed during the Japanese occupation during World War II, Armenian bishop Ignazio Choukrallah Maloyan, killed by Turkish forces in 1915, and Venezuela’s Jose Gregorio Hernandez Cisneros, a layman who died in 1919, whom the late Pope Francis called a “doctor close to the weakest.”

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Also from Venezuela was Maria Carmen Elena Rendiles Martinez, a nun born without a left arm who overcame her disability to found the Congregation of the Servants of Jesus before her death in 1977. She becomes the South American country’s first female saint.

The Italian nuns canonised are Vincenza Maria Poloni, the 19th-century founder of Verona’s Institute of the Sisters of Mercy, which cares primarily for the sick in hospitals, and Maria Troncatti of the Daughters of Mary Help of Christians.

In the 1920s, Troncatti arrived in Ecuador to devote her life to helping its indigenous population.

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