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70m Active Mobile Line Owners Have No Bank Accounts – eTranzact

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The Chief Executive Officer of eTranzact International Plc., Mr Niyi Toluwalope, has said that about 70 million active mobile line owners in Nigeria do not have bank accounts.

Toluwalope made the disclosure at the Capital Market Correspondents Association of Nigerian (CAMCAN) 2021 Annual Workshop held on Saturday in Lagos.

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The eTranzact boss said that 150 million of Nigeria’s 200 million population owned mobile phone lines, 110 million owned 150 million mobile phone lines but only about 40 million had active bank verification numbers.

Toluwalope said that there was the need to close the gap, especially as regards small and medium enterprises.

READ ALSO: FG Approves COVID-19 Vaccines Booster For Nigerians

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He spoke on: “Technology as a Tool for Financial Inclusion in Nigeria: A Fintech Approach”

He said that financial inclusion was important to the capital market industry.

According to Toluwalope, financial inclusion is an important component for enabling group.

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He said: “Financial inclusion holds the answers to how we increase the participation of retail investors, how we encourage more homegrown businesses, leverage the capital market for growth and the informal sector participation in the capital market.

“The role of technology cannot be overemphasised.

“Over the past few years, technology has allowed more people to gain access to financial services, and that has increased by default, the customer base of capital market operators.

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“Essentially, the rise of digital financial services means growth for the capital market.”

Toluwalope said that utilisation of technology would democratise capital market access and participation.

“We can directly expand the current digital savings and investments offerings to leverage the capital market for increased returns,” he said.

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He added that for financial inclusion to thrive, the sector would need collaboration of players in the private and public sectors.

He noted that the Central Bank of Nigeria as well the Securites and Exchange Commission (SEC) had taken a number of steps to drive financial inclusion.

The News Agency of Nigeria (NAN) reports that the workshop had a panel session during which representatives of the Nigerian Exchange (NGX) Ltd., FMDQ Exchange, SEC and stockbrokers pledged to continue to fashion out ways to tackle ponzi scheme activities.

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READ ALSO: BREAKING: Riot In Osogbo Over Alleged Killing Of Truck Driver By Police

The workshop was sponsored by Flour Mills of Nigeria, United Bank for Africa, Access Bank, Zenith Bank, NGX, FMDQ and SEC, among other organisations.

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Bomb Scare Forces Emergency Landing Of Hajj Flight In Indonesia

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A plane carrying hundreds of hajj pilgrims back from Saudi Arabia was diverted in Indonesia on Tuesday after an email bomb threat was sent to authorities, Indonesia’s aviation body said.

The Directorate General of Civil Aviation said it received a report from Indonesia’s airport operator “regarding a bomb threat sent by an unidentified person via electronic mail”.

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The email at 07:30 am (0030 GMT) contained a threat to “blow up” Saudia Airlines flight SV 5276 which was flying from the Saudi city of Jeddah to the Indonesian capital Jakarta, it said in a statement.

READ ALSO: Saudi Uses AI, Drones And Thousands Of Cameras To Keep Hajj Pilgrims Safe

After 10:00 am the pilot diverted the plane from its destination of Jakarta’s Soekarno-Hatta International Airport to Kualanamu International Airport in Medan, a city on Sumatra island in western Indonesia.

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The flight was carrying 442 hajj pilgrims, including 207 men and 235 women, it added.

Upon identifying security and safety threats, the pilot decided to divert the landing to the nearest airport,” said In Journey Airports, Indonesia’s airport operator.

A transport ministry official told AFP the plane was still in Medan and Flightradar24 showed the plane there.

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The airport evacuated the pilgrims and a bomb disposal unit swept the plane for explosive devices, the aviation body said in its statement.

AFP

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Russian Strikes Kill 16 In Kyiv

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Russia launched dozens of drones and missiles at Kyiv in the early hours of Tuesday, killing at least 16 people and wounding dozens of others, as negotiations between Kyiv and Moscow broke down.

President Volodymyr Zelensky described the latest overnight barrage as “one of the most horrific attacks” on Kyiv since the Kremlin launched its brutal invasion of Ukraine more than three years ago.

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Zelensky said a total of 440 drones and 32 missiles were launched in the strikes nationwide and urged the international community not to “turn a blind eye”.

Russian President Vladimir Putin does this solely because he can afford to continue the war. He wants the war to go on,” he said.

AFP journalists saw smoke billowing over the capital’s skyline at dawn and a multiple-storey housing block gutted by the attack. Rescue workers were scrambling to find any survivors buried beneath the rubble.

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READ ALSO: Russian Strikes Kill Five In Ukraine

It was probably the most hellish night in my memory for our neighbourhood,” 20-year-old student Alina Shtompel told AFP.

“It is indescribably painful that our people are going through this right now.”

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More than three years into its full-scale invasion of Ukraine, Moscow has stepped up attacks despite efforts by the United States to broker a ceasefire.

Talks have stalled. Moscow has rejected the “unconditional” truce demanded by Kyiv and its European allies, while Ukraine has dismissed Russia’s demands as “ultimatums”.

– Diplomatic ‘facade’ –

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Zelensky had been hoping to speak with US leader Donald Trump on the sidelines of the G7 summit in Canada, but the US leader cut short his visit, amid the escalating conflict between Israel and Iran.

Russia hit some 27 sites in Kyiv overnight and some residents were left without electricity, officials said.

READ ALSO: Zelensky Slams Russia After Three Generations Killed In Drone Strike

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Tymur Tkachenko, the head of Kyiv’s military administration, updated an earlier toll of 14 dead, saying two people had been pulled from the rubble at the scene of one strike.

The search continues, as there may still be people under the ruins,” he said.

One person was also killed and 10 wounded in the southern port city of Odesa, while attacks on the Sumy and Kherson regions later in the day killed two others, authorities said.

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The Russian defence ministry said it had carried out precision strikes on “military-industrial facilities in the Kyiv region,” in a statement similar to those releases after major attacks.

Germany vowed in response to “increase the pressure” on Russia. The strike showed that “Russia is using diplomacy merely as a facade,” the foreign ministry wrote on X.

Putin doesn’t want a solution, he wants capitulation.”

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READ ALSO: Trump Says Putin ‘Playing With Fire’ In New Jab At Russian Leader

– US citizen dead –

Dozens of residents took shelter in a metro station in central Kyiv, sleeping on mats, exchanging information on attack or reassuring pets, AFP journalists reported, while drones buzzed and explosions echoed out over the city.

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“I was asleep. There was a loud bang. The window was smashed, and glass rained down on me,” Sergii, another Kyiv resident, said.

Residential buildings, educational institutions and “critical infrastructure facilities” were all hit, Interior Minister, Igor Klymenko.

Kyiv’s mayor reported earlier that a 62-year-old US citizen had died in a Russian strike on the capital’s Solomyansky district.

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READ ALSO: Pope Offer To Host Russia-Ukraine Talks Welcomed By International Leaders

Zelensky’s chief of staff, Andriy Yermak, said the new attacks showed Moscow was “continuing its war against civilians”.

Tens of thousands of soldiers have been killed on both sides since Russia invaded Ukraine in February 2022, according to independent monitors and Western intelligence agencies.

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Russian forces have been steadily advancing across the sprawling front line even since the inauguration of Trump brought about an uptick in US efforts to secure a halt in fighting.

AFP

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25-year-old Nigerian Arrested With N1.8bn Drugs In India Risks 20-year Jail

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A 25-year-old Nigerian woman, Ifeoluwa Akinwunmi, risks up to 20 years jail in India after she was allegedly caught in possession of drugs worth over N1.8bn.

Akinwunmi, reportedly a hairstylist and nail artist, was arrested last Tuesday by operatives of the Anti-Narcotics Wing of the Central Crime Branch in Bengaluru.

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She was apprehended at the Tarahunase village, along Rajanukunte Main Road, after arriving from Delhi with a suspicious bag.

According to The New Indian Express, which was cited in a report by The PUNCH on Monday, the bag contained 5.325 kilograms of MDMA crystals, a banned party drug.

READ ALSO: Ugandan President Ignores S’Court Ruling, Approves Law To Try Civilians In Military Courts

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The contraband was concealed among 11 new churidars — traditional Indian outfits.

“She is a courier. She had come to hand over the drugs to a group of African peddlers.

“We noticed four men on two scooters in the area, but they did not collect the parcel. Akinwunmi was arrested while standing with the bag,” a police officer involved in the operation was quoted as saying.

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The suspect, who claimed she travelled to India to establish a beauty salon, is now facing charges under India’s Narcotic Drugs and Psychotropic Substances Act, 1985, and the Foreigners Act, 1946.

READ ALSO: 25 Indian Passengers From Plane Held In France Freed

Section 23 of the NDPS Act stipulates severe penalties for those caught importing, exporting, or transhipping narcotic drugs and psychotropic substances.

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According to the Indian legal code reviewed by The PUNCH, offenders found with a commercial quantity, such as the MDMA seized from Akinwunmi, face a minimum of 10 years and up to 20 years in prison, in addition to heavy fines.

The section reads in part, “Where the contravention involves commercial quantity, [the offender shall be punished] with rigorous imprisonment for a term which shall not be less than ten years but which may extend to twenty years and shall also be liable to a fine which shall not be less than one lakh rupees but which may extend to two lakh rupees.”

Under the Foreigners Act of 1946, the Indian government also has the authority to prosecute and deport foreigners involved in criminal activities.

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Akinwunmi’s arrest comes just two days after another Nigerian national, Emmanuel Bediako, also known as Maxwell, was apprehended by the Telangana Anti-Narcotics Bureau for alleged drug trafficking.

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