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N5bn Raised To Kick-off Monthly Rental Policy In Lagos

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Babajide Sanwo-Olu of Lagos State

The Lagos State Government has urged Lagosians to key into the proposed Lagos monthly rental policy initiated to kick off in 2022.

Speaking at the 2nd Lagos Real Estate Marketplace conference and exhibitions, tagged: ‘Lagos 21st century real estate investment hub’ organised by the Lagos State Real Estate Regulatory Authority, LASERA, Special Adviser to the Lagos State governor on Housing, Mrs Toke Benson- Awoyinka said: “With the state of the country, we cannot really enforce monthly tenancy.

“We need to create an enabling environment for people to subscribe into it. Once people understand how it works, people would rather subscribe than pay their landlord.

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“The state government spoke to quite a number of financial institutions in a bid to gather funding at a very minimal interest rate, the same way we do it in the mortgage board and Lagos home scheme but we find it difficult putting those big funds together.

“We have various components like the insurance, the financiers, we have the landlord, we have the tenants and then we have the legal.

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“We have put five components together as a state government; midwife the policy we made it seamless and easily accessible by citizens of the state.”

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On her part, Nigeria’s real estate company, The Address Homes, representative, Mrs Olufunke Morunfoye who commended policy said: “It’s a good development for many people that cannot afford the humongous yearly payment.

But our product is actually for all because we enable everybody that comes to us to have a home. With our flexible payment plan, lots of people that think they cannot afford a home in Ikoyi are doing so.

“Nigerians in Diaspora that complained about uneasy payment plan of other developers are compelled to come to us due to our subtle payment plan that is second to none.”

In the same vein, the Lagos State Commissioner for finance, Dr Rabiou Olowo, reiterated that what made it important is because of its impact on society.

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“We did a rental experience survey and we found out that 88 per cent of Lagosians would rather pay their rent monthly.

“At that point, we felt that it was an important policy for the Lagos government to conceive and Governor Babajide Sanwo-Olu immediately keyed into it. The solution will create resilience throughout Lagos. It is going to bring a lot of relief for tenants.

“We worked with lots of stakeholders groups including landlords, tenants, lawyers, financial institutions.

“We came up with a fit of purpose structure that would enable us to launch a monthly rental model in Lagos. As part of putting it together, we have gone through a lot of risk analysis and risk evaluation to look at how it would work.

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“We have met with a lot of stakeholders like: Landlords, tenants, lawyers are there, agents are there, we have financial institutions and we also have technical advisers that will come up with a purpose structure that will enable us to launch a monthly rental model in Lagos. We have gone through lots of risk analysis to know it would work.

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“We went on to look at operational risk, legal risk and default risk. With all the insight we got from the survey, we came up with a model that would now be launched as the Lagos monthly rental policy.

“We put together with our stakeholders, especially the financial institution a N5 Billion portfolio to kick off this idea and we are welcoming more support from other financial institutions in order to raise the bar of the portfolio to be able to enjoy the policy”.

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Iran Hangs 53-year-old Woman, Six Others

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Iran on Saturday hanged at least seven people, including two women, while a member of its Jewish minority is at imminent risk of execution as the Islamic Republic further intensified its use of capital punishment, an NGO said.

Parvin Mousavi, 53, a mother of two grown-up children, was hanged in Urmia prison in northwestern Iran along with five men convicted in various drug-related cases, the Norway-based Iran Human Rights (IHR) said in a statement.

In Nishapur in eastern Iran, a 27-year-old woman named Fatemeh Abdullahi was hanged on charges of murdering her husband, who was also her cousin, it said.

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IHR says it has tallied at least 223 executions this year, with at least 50 so far in May alone. A new surge began following the end of Persian New Year and Ramadan holidays in April, with 115 people including six women hanged since then, it said.

READ ALSO: Burkina Faso, Mali, Niger Finalise Regional Alliance Project

Iran carries out more recorded executions of women than any other country. Activists say many such convicts are victims of forced or abusive marriages.

Iran last year carried out more hangings than in any year since 2015, according to NGOs, which accuse the Islamic republic of using capital punishment as a means to instill fear in the wake of protests that erupted in autumn 2022.

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The silence of the international community is unacceptable,” IHR director Mahmood Amiry-Moghaddam told AFP.

“Those executed belong to the poor and marginalised groups of Iranian society and didn’t have fair trials with due process.”

READ ALSO: Israeli Leaders Disagree Over Post-war Gaza Governance Amid US Pressure

‘Killing machine’

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IHR said Mousavi had been in prison for four years. It cited a source as saying she had been paid the equivalent of 15 euros to carry a package she had been told contained medicine but was in fact five kilos of morphine.

They are the low-cost victims of the Islamic Republic’s killing machine, which aims at instilling fear among people to prevent new protests,” added Amiry-Moghaddam.

The group meanwhile said a member of Iran’s Jewish community, which has drastically reduced in numbers in recent years but is still the largest in the Middle East outside Israel, was at imminent risk of execution over a murder charge.

Arvin Ghahremani, 20, was convicted of murder during a street fight when he was 18 and is scheduled to be executed in the western city of Kermanshah on Monday, it said, adding it had received an audio message from his mother Sonia Saadati asking for his life to be spared.

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READ ALSO: 50-year-old Man Dies While Watching Football Match In Lagos Bar

His family is seeking to ask the family of the victim to forgo the execution in line with Iran’s Islamic law of retribution, or qesas.

Also at risk of execution is Kamran Sheikheh, the last surviving member of a group of seven Iranian Kurdish men who were first arrested between early December 2009 and late January 2010 and later sentenced to death for “corruption on earth” over alleged membership of extremist groups, it said.

Six men convicted in the same case have been executed in the last months almost one-and-a-half decades after their initial arrest, the last being Khosro Besharat who was hanged in Ghezel Hesar prison outside Tehran this week.

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There has been an international outcry meanwhile over the death sentence handed out last month to Iranian rapper Toomaj Salehi, seen by activists as retaliation for his music backing the 2022 protests. His lawyers are appealing the verdict.

AFP

 

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Israeli Leaders Disagree Over Post-war Gaza Governance Amid US Pressure

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New divisions have emerged among Israel’s leaders over post-war Gaza’s governance, with an unexpected Hamas fightback in parts of the Palestinian territory piling pressure on Prime Minister Benjamin Netanyahu.

The Israeli army has been battling Hamas militants across Gaza for more than seven months while also exchanging near-daily fire with Iran-backed Hezbollah forces along the northern border with Lebanon.

But after Hamas fighters regrouped in northern Gaza, where Israel previously said the group had been neutralised, broad splits emerged in the Israeli war cabinet in recent days.

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Netanyahu came under personal attack from Defence Minister Yoav Gallant for failing to rule out an Israeli government in Gaza after the war.

The Israeli premier’s outright rejection of post-war Palestinian leadership in Gaza has broken a rift among top politicians wide open and frustrated relations with top ally the United States.

Experts say the lack of clarity only serves to benefit Hamas, whose leader has insisted no new authority can be established in the territory without its involvement.

READ ALSO: 400 Bodies Found In Mass Grave In Gaza Hospital

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“Without an alternative to fill the vacuum, Hamas will continue to grow,” International Crisis Group analyst Mairav Zonszein told AFP.

Emmanuel Navon, a lecturer at Tel Aviv University, echoed this sentiment.

“If only Hamas is left in Gaza, of course they are going to appear here and there and the Israeli army will be forced to chase them around,” said Navon.

“Either you establish an Israeli military government or an Arab-led government.”

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US pressure

Gallant said in a televised address on Wednesday: “I call on Prime Minister Benjamin Netanyahu to make a decision and declare that Israel will not establish civilian control over the Gaza strip.”

The premier’s war planning also came under recent attack by army chief Herzi Halevi as well as top Shin Bet security agency officials, according to Israeli media reports.

READ ALSO: Israel Bombs Gaza, Fights Hamas Around Hospitals

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Netanyahu is also under pressure from Washington to swiftly bring an end to the conflict and avoid being mired in a long counterinsurgency campaign.

Washington has previously called for a “revitalised” form of the Palestinian Authority to govern Gaza after the war.

But Netanyahu has rejected any role for the PA in post-war Gaza, saying Thursday that it “supports terror, educates terror, finances terror”.

Instead, Netanyahu has clung to his steadfast aim of “eliminating” Hamas, asserting that “there’s no alternative to military victory”.

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Experts say confidence in Netanyahu is running thin.

“With Gallant’s criticism of Netanyahu’s failure to plan for the day after in terms of governing Gaza, some real fissures are beginning to emerge in the Israeli war cabinet,” Colin P. Clarke, director of policy and research at the Soufan Group think tank, wrote on X, formerly Twitter.

“I’m not sure I know of many people, including the most ardent Israel supporters, who have confidence in Bibi,” he said, using Netanyahu’s nickname.

READ ALSO: Fight-to-finish: Israel Deploys New Military AI In Gaza War

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Hostage ‘impasse’

The Gaza war broke out after Hamas’s attack on southern Israel which resulted in the deaths of more than 1,170 people, mostly civilians, according to an AFP tally of Israeli official figures.

The militants also seized about 250 hostages, 125 of whom Israel estimates remain in Gaza, including 37 the military says are dead.

Israel’s military retaliation has killed at least 35,386 people, mostly civilians, according to the Hamas-run Gaza’s health ministry, and an Israeli siege has brought dire food shortages and the threat of famine.

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Many Israelis supported Netanyahu’s blunt goals to seek revenge on Hamas in the aftermath of the October 7 attack.

But now, hopes have faded for the return of the hostages and patience in Netanyahu may be running out, experts said.

On Friday, the army announced it had recovered bodies of three hostages who were killed during the October 7 attack.

After Israeli forces entered the far southern city of Rafah, where more than a million displaced Gazans were sheltering, talks mediated by Egypt, the United States and Qatar to release the hostages have ground to a standstill.

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The hostage deal is at a total impasse — you can no longer provide the appearance of progress,” said Zonszein of the International Crisis Group.

Plus the breakdown with the US and the fact that Egypt has refused to pass aid through Rafah — all those things are coming to a head.”

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Burkina Faso, Mali, Niger Finalise Regional Alliance Project

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Junta-run Burkina Faso, Mali and Niger have finalised plans to form a confederation after turning their backs on former colonial ruler France to seek closer ties with Russia.

Their foreign ministers met Friday in Niger’s capital Niamey to agree on a text establishing the Confederation of the Alliance of Sahel States (AES).

The objective was to finalise the draft text relating to the institutionalisation and operationalisation of the Confederation of the Alliance of Sahel States (AES)”, said Niger Foreign Minister Bakary Yaou Sangare as he read the final statement late Friday.

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He said the text would be adopted by the heads of state of the three countries at a summit, without specifying the date.

We can consider very clearly, today, that the Confederation of the Alliance of Sahel States (AES) has been born,” Malian Foreign Minister Abdoulaye Diop said after meeting General Abdourahamane Tiani, the head of Nigerien military regime.

The third foreign minister at the meeting was Burkina Faso’s Karamoko Jean-Marie Traore.

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READ ALSO: Tinubu Okays Payment Of N3.3tn Power Sector Debts, Gencos, Gas Producers To Get N1.3tn, $1.3bn

The Sahel region has been subject to deadly jihadist violence for years, which they accused France of not being able to curb.

The three countries said late January they were quitting The Economic Community of West African States (ECOWAS), which they said was under French influence, to create their own regional grouping.

AFP

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