• Friday, December 01, 2023
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Five things to know to start your Monday


Senator Ifeanyi Ubah escapes assassination attempt

Ifeanyi Ubah, the senator representing Anambra South Senatorial District, escaped an attempt to take his life on Sunday when the vehicle he was travelling in was attacked by some heavily armed men.

Some of his aides and police escorts lost their lives in the mayhem.

According to Channels TV, some eyewitnesses said that the convoy was ambushed by heavily armed men who opened fire on it from all directions.

The Senator escaped unhurt because he was protected by his bulletproof car.

Reacting to the attack, DSP Tochukwu Ikenga, the Police Public Relations Officer, said that Echeng Echeng, the Commissioner of Police in Anambra State, had already led operatives to the scene of the attack at Nkwo market, Enugwukwu.

Ikenga said that the investigation is still ongoing and promised that details would be provided in due time.

An aide who escaped the attack said that the attack was an assassination attempt on the life of the senator, but that the senator only managed to escape because his vehicle was bulletproof.

Read also: 2023: Tinubu so desperate, a leader who doesn’t mind being led

Blue chip companies shares source of Tinubu ‘s wealth, says

Dele Alake

Dele Alake, the director of strategic communication of the oresidential campaign council of the All Progressive Congress (APC), has linked the source of wealth of Bola Ahmed Tinubu, the presidential candidate of the APC, to his aggressive investment in shares, bonds, and other financial instruments of some blue-chip companies.

Alake said this on Sunday during an interview on Channels TV Sunday Politics.

“He was buying stocks of blue chip companies and all of that. He was making money and he was spending money. He has been doing all of these years before he got into office,” he said.

He was defending the source of Tinubu’s wealth amid all the controversy and allegations of corruption labelled against him.

He attributed the genesis of his wealth to the times he spent in the corporate world, where as a young professional he developed a liking for financial instrument trading.

“He has been buying stocks and bonds and all of that. I am not a finance person. So, I am not going to be interested in the nitty-gritty of it all. But I know he has been trading in stocks.

“I know that when you trade in stocks and you are a finance person, you know how to juggle the stock market and all of that. Those who are adept at it know what I am talking about. They wouldn’t start questioning how he made his money from stocks,” he added, believing that only financial experts have succeeded in understanding and making the most out of the stock market.

The presidential candidate has faced countless calls for his source of wealth to be investigated, especially following several allegations of misappropriation of funds during his time as governor of Lagos State.

Alake believes that calls for him to step down based on his enormous wealth, which many of critics call “questionable,” shows how much hatred they have for him.

Queen Elizabeth II’s coffin arrives at Edinburgh palace

Thousands of mourners who came to pay their last respect thronged the route leading to Edinburgh Palace for the final journey of Queen Elizabeth II on Sunday as her coffin arrived in Edinburgh from the Scottish retreat where she died.

According to the Associated Press, huge crowds packed the streets of Scotland’s capital as the hearse bearing Britain’s longest-serving monarch completed the first leg of a sober journey that will culminate with her state funeral in London on September 19.

Soldiers in kilts stood to attention as the seven-car cortege arrived at Holyroodhouse palace after a six-hour drive from the queen’s Balmoral residence, where she passed away on Thursday, aged 96.

Some of the well-wishers along the way had thrown flowers or applauded, while others were in tears as the convoy, including the queen’s only daughter, Princess Anne, went by.

“It is history, history in the making. We lived so long with the queen — 70 years,” said former soldier Stuart Mackay.

“It’s the only Monarch we’ve known and I think it’s my duty to be here to wave her goodbye.”

The queen’s coffin will rest in Holyroodhouse Palace, the monarch’s official residence in Scotland, for a day before being moved to St Giles’ cathedral for the public to pay their respects.

The body of the queen will be flown to London the day after to lie in state for four days, which is expected to draw at least a million people, ahead of a funeral set to be watched worldwide and attended by numerous heads of state.

Biden to hit China with broader restrictions on U.S. chip and tool exports

The diplomatic and trade war between the United States of America and China took on a new dimension following news that the Biden administration plans to broaden restrictions on U.S. shipments to China of semiconductors next month.

According to information made available to Reuters, the restrictions on the semiconductors will be those used for artificial intelligence and chipmaking tools.

Sources say that the Commerce Department plans to publish new regulations based on restrictions communicated in letters earlier this year to three U.S. companies — KLA Corp, Lam Research Corp, and Applied Materials Inc.

The content of the letter forbade the said companies from exporting chipmaking equipment to Chinese factories that produce advanced semiconductors with sub-14 nanometer processes unless the sellers obtained Commerce Department licenses.

Those same sources said that the regulations would likely include additional actions against China.

However, improvements in the diplomatic relation between the U.S. and China could prompt a change in the rules.

Oil prices could spike in winter—Yellen

Janet Yellen, the U.S. The Treasury Secretary said on Sunday that Americans should brace up for a likely jump in gas prices this winter following a likely cut back on European Union purchases of Russian oil.

She also added that “a proposed Western price cap on Russia’s oil exports is being designed to keep prices in check.”

Yellen said this during an interview on CNN.

According to her, the price increase is likely because the EU “will cease, for the most part, buying Russian oil” and impose a ban on services that allow Russia to ship oil by tanker.

The price cap, which has been discussed extensively in earlier meetings of the G7 wealthy nations, called for participating countries to deny insurance, finance, brokering, navigation, and other services to oil cargoes priced above a yet-to-be-determined price cap on crude and oil products.

The price cap is a weapon the G7 countries believe would reduce revenue available to Russia from oil sales. A punishment for Moscow for invading Ukraine.