Paradise News

Author: Managing Editor

  • Former Bank of China Chairman Sentenced to Death with Reprieve for Corruption

    Former Bank of China Chairman Sentenced to Death with Reprieve for Corruption

    By Ben Nsemo

    Former Chairman of the Bank of China, Liu Liange, has been sentenced to death with a two-year reprieve by the Jinan Intermediate People’s Court in Shandong Province.

    The verdict, delivered on November 26, 2024, found Liu guilty of accepting bribes worth 121 million yuan (approximately $16.7 million) and approving illegal loans totaling 3.32 billion yuan, causing financial losses of over 190 million yuan.

    The court ordered the confiscation of all Liu’s personal assets and imposed a lifetime deprivation of his political rights.

    In China, a death sentence with a two-year reprieve often allows for the possibility of commutation to life imprisonment, provided the convict exhibits good behavior during the reprieve period.

    This severe ruling reflects the Chinese government’s intensified anti-corruption drive targeting high-ranking officials and influential figures, particularly in the financial and political sectors.

    By prosecuting such cases, the government reinforces its zero-tolerance policy on corruption, aiming to maintain discipline and deter illicit practices within critical institutions.

    Liu’s conviction underscores the broader efforts of China’s leadership to uphold transparency and accountability, further solidifying its commitment to combating corruption at all levels.

  • Ondo Governor Aiyedatiwa, Deputy Present Election Certificates to Tinubu

    Ondo Governor Aiyedatiwa, Deputy Present Election Certificates to Tinubu

    By Ben Nsemo

    The newly elected Governor of Ondo State, Lucky Aiyedatiwa, and his deputy, Olayide Adelami, formally presented their certificates of election to President Bola Ahmed Tinubu on Tuesday at the Presidential Villa, Abuja.

    The event was attended by the National Chairman of the All Progressives Congress (APC), Abdullahi Ganduje, and Ekiti State Governor, Biodun Oyebanji. This gesture underscores the party’s unity and the new administration’s commitment to effective governance in Ondo State.

    Governor Aiyedatiwa, a member of the APC, succeeded in securing his election during the recently concluded gubernatorial poll. The presentation signals the readiness of the administration to begin its tenure.

  • NNPC Ltd Highlights Progress on Port Harcourt Refinery Amid Clarifications

    NNPC Ltd Highlights Progress on Port Harcourt Refinery Amid Clarifications

    By Ben Nsemo

    The Nigerian National Petroleum Company Limited (NNPC Ltd) has addressed Nigerians, expressing gratitude for their support following the successful restart of the Old Port Harcourt Refinery, which had faced years of inactivity.

    In a statement by Olufemi Soneye, Chief Corporate Communications Officer, the company dismissed claims alleging that the refinery is not operational. It confirmed that the facility currently operates at 70% of its 60,000 barrels-per-day capacity, with output including:

    • Straight-Run Gasoline (Naphtha): Blended into 1.4 million litres of Premium Motor Spirit (petrol).
    • Kerosene: 900,000 litres daily.
    • Diesel (AGO): 1.5 million litres daily.
    • Low Pour Fuel Oil (LPFO): 2.1 million litres daily.
    • Liquefied Petroleum Gas (LPG): Additional volumes.

    The refinery’s gasoline production involves blending components sourced from Indorama Petrochemicals to meet required specifications—a standard industry practice.

    NNPC also announced significant progress on the new Port Harcourt Refinery, set to begin operations soon, while urging Nigerians to focus on the milestones achieved under President Bola Tinubu’s administration.

    The company stressed the need for collective support to strengthen Nigeria’s energy sector and counteract misinformation.

  • Real Madrid Sparks Controversy with Call to Cut Liga F Funding

    Real Madrid Sparks Controversy with Call to Cut Liga F Funding

    By Ben Nsemo

    Real Madrid has ignited a firestorm of criticism after calling for a reduction in funding for the women’s Spanish league, Liga F.

    The club’s general director, Jose Angel Sanchez, made the controversial statement during a recent Assembly of Clubs meeting, targeting the financial support package La Liga provides to the women’s league.

    The funding, a five-year initiative worth €40 million (£33m/$42m), is currently in its third year.

    It began with annual contributions of €6 million (£5m/$6m) and has gradually increased, with €8 million (£7m/$8m) being disbursed this year. The annual funding is set to reach €10 million (£8m/$10m) in its final two years.

    These contributions are sourced from La Liga’s revenues, which are shared among 42 clubs across the Primera and Segunda divisions. However, only 13 of these clubs field teams in Liga F.

    Madrid’s criticism comes amid financial challenges faced by Liga F, including issues with former sponsor Fi Network’s unpaid commitments.

    The league now relies on alternative revenue sources, such as a broadcasting deal with DAZN and €20 million (£17m/$21m) annually from Spain’s Ministry for Sport (CSD). Additionally, €19.5 million is allocated over five years to projects promoting women’s football.

    During the meeting, Madrid’s representative reportedly told La Liga president Javier Tebas, “It’s too much. It has to be cut.” This position has reignited criticism of Real Madrid’s historical approach to women’s football.

    The club only established its women’s team in 2019 by acquiring CD Tacon, lagging behind other major clubs like Barcelona and Atletico Madrid, which have long supported women’s football development.

    Critics argue that Madrid’s stance is inconsistent with its financial position, given the club’s revenue of over €1 billion last season.

    Furthermore, the call for cuts comes at a time of unprecedented growth in women’s football globally, buoyed by Spain’s Women’s World Cup triumph in 2023.

    The move contrasts sharply with broader efforts to expand investment in women’s sports, drawing significant public and institutional scrutiny.

  • Senate Confirms Omolola Oloworaran as PENCOM Director-General

    Senate Confirms Omolola Oloworaran as PENCOM Director-General

    By Ben Nsemo

    The Senate on Thursday confirmed the appointment of Omolola Oloworaran as the Director-General of the National Pension Commission (PENCOM). Her nomination by President Bola Ahmed Tinubu received approval following the consideration of the report presented by the Senate Committee on Establishment and Public Service.

    During the plenary session, the Chairman of the Committee, Senator Cyril Fasuyi, stated that Oloworaran met the requirements stipulated under sections 19 (2), (5)(6), and 26 of the Pension Reform Act-2014, Act No. 4.

    Fasuyi noted that there were no adverse security reports or petitions against the nominee. “The nominee has satisfied the requisite requirements and is affirmed to be qualified, fit, and proper for appointment as the Director-General of the National Pension Commission,” he said.

    The Deputy Senate President, Barau Jibrin, who presided over the session, put the Committee’s recommendation to a voice vote, which received unanimous approval from the lawmakers.

    Credentials and Experience

    Omolola Oloworaran holds an accounting degree from the University of Ilorin and an MBA from Manchester Business School. A Fellow of the Association of Chartered Certified Accountants (ACCA), she has over 20 years of experience in the financial services sector.

    Oloworaran has held leadership roles in prominent Nigerian banks, including FirstBank Nigeria, where she served as Head of Transaction Banking Operations, and Stanbic IBTC, where she led the International Business Center. Additionally, she worked as a Consultant with FDHL Group.

    Her extensive experience and qualifications are expected to drive transformative reforms at PENCOM, enhancing Nigeria’s pension system.

  • Troops Eliminate Top Terrorist Commander, Neutralize 114 Others in North-East

    Troops Eliminate Top Terrorist Commander, Neutralize 114 Others in North-East

    By Ben Nsemo

    The Defence Headquarters (DHQ) announced on Thursday that Nigerian troops have successfully neutralized 115 terrorists, including a notorious commander named Munzur Ya Audu, in various operations across the country last week.

    Major General Edward Buba, the Director of Defence Media Operations, revealed this during a press briefing in Abuja. He emphasized the ongoing efforts to dismantle the networks of terrorist groups and eliminate their logistical support systems.

    The military operations resulted in the following significant achievements:

    • Neutralization of 115 terrorists
    • Arrest of 238 suspects
    • Rescue of 138 hostages
    • Recovery of 145 assorted weapons and 3,825 ammunition

    The DHQ detailed the specific operations in different regions:

    North-East:

    • Operation Hadin Kai: Neutralized 61 terrorists, arrested 34 suspects, and rescued 32 hostages.

    North-Central:

    • Operations Safe Haven and Whirl Stroke: Neutralized 18 violent extremists, arrested 48 persons, and rescued 48 hostages.

    North-West:

    • Operation Hadarin Daji: Neutralized 28 terrorists, arrested 77 persons, and rescued 57 kidnapped hostages.

    South-East:

    • Operation UDO KA: Neutralized six terrorists, arrested 13 violent extremists, and rescued one hostage.

    The Air Component of the Armed Forces also played a crucial role in these operations, conducting air interdiction missions against terrorist hideouts and logistics bases.

    The DHQ commended the troops for their bravery and dedication, assuring the public that the military remains committed to ensuring the safety and security of all Nigerians.

  • WMO Pledges Climate Support to Nigeria at COP 29

    WMO Pledges Climate Support to Nigeria at COP 29

    By Ben Nsemo

    The World Meteorological Organisation (WMO) has pledged to provide technical support to Nigeria in addressing climate change challenges, with a focus on the aviation sector.

    This commitment was made by WMO Deputy Secretary-General, Ms Ko Barrett, during a session with Nigeria’s delegation at the ongoing COP 29 climate conference in Baku, Azerbaijan, according to a statement by the Minister of Aviation and Aerospace Development, Festus Keyamo.

    Keyamo noted that as a WMO Peer Advisor, Nigeria stands to benefit from enhanced strategies to strengthen climate resilience, particularly within the aviation industry.

    He underscored the crucial link between aviation and climate change, stressing the importance of adopting sustainable practices across all sectors.

    Speaking during Nigeria Day at COP 29, Keyamo outlined the government’s efforts to align aviation and aerospace policies with global climate goals. These include initiatives to reduce carbon emissions and transition to cleaner energy in the sector.

    “Nigeria is fully committed to addressing the global climate crisis. Our aviation sector is undergoing transformative reforms to align with international sustainability standards. The commitments we secure here at COP 29 will drive our vision for a resilient and eco-friendly aviation ecosystem,” he said.

    Keyamo also highlighted Nigeria’s potential as a hub for green investments in aviation and aerospace, reaffirming the government’s resolve to position the country as a leader in sustainable aviation.

    He reiterated Nigeria’s dedication to global partnerships that support the Paris Agreement and the UN Sustainable Development Goals.