Rosmah Mansor, Wife of ex-Malaysian Prime Minister, Najib Razak, was charged on Thursday with money laundering and tax evasions as the country continues its probe into state investment firm 1Malaysia Development Berhad (1MDB).

Mansor faces 17 count charges under Malaysia’s anti-money laundering law, including money laundering by engaging directly in transaction that involves proceeds of unlawful activities, approximately 1.7 million dollars (7.1 million ringgit).

She was also charged for failing to declare income tax.

The 66-year Mansor at a Kuala Lumpur court, pleaded not guilty to all charges.

The money laundering charges carry a penalty of up to 15 years in jail and a fine.

The charges came after her several rounds of questioning by Malaysia’s anti-corruption body related to 1MDB, where hundred of millions of funds allegedly went missing.

She was arrested on Wednesday before being brought before the court. She was later granted bail at two million ringgit (480,000 dollars).

Both Mansor and her husband Najib are barred from leaving the country along with other individuals connected to the former administration.

Najib was also in court on Thursday for a pre-trial hearing.

He is currently facing 32 charges including criminal breach of trust, abuse of power and money laundering of funds linked to 1MDB and its former subsidiary, SRC International.

Xinhua/NAN

Some financial analysts on Thursday urged capital market investors to take the  advantage of the current low price of equities to increase their stocks in the market.

The analysts told the News Agency of Nigeria (NAN) in Lagos that this period remained the ideal season for viable investors to use and increase their stocks.

The analysts spoke against the backdrop of the low patronage of stocks in the Nigerian Stock Exchange (NSE).

Mr Charles Fakrogha, the Chief Executive Officer, Foresight Securities & Investment Ltd., said every stock investor must set an investment objective and adhere to it.

“The utmost objective of any investor is to buy stocks when the price is low, and sell when the price is high to make profits.

“But every stock investor should realise that whether the capital market goes up or down, an investor must make gain.

“By the outlook of capital market presently, investors should not panic.

“They should be more conscious of their investment pattern, develop good management governance and be more vibrant in participating in the market,” he said.

Fakrogha said profit-taking would moderate capital market activities by December and January.

According to him, the price of equities fluctuates because of the renewed profit-taking by investors.

“Though, the tempo of the market may still slowdown until February 2019 due to Christmas, end of year expenditure and payment of school fees.

“But after that period, the renewed profit-taking will gradually moderate and stabilise the equity prices for better market activities in 2019,” he said.

Fakrogha expressed the optimism that the market would close higher in 2018 than what obtained in 2017.

Also, Mr Sunny Nwosu, National Coordinator, Independent Shareholders Association of Nigeria (ISAN), said stabilisation of other relevant sectors of the economy would go a long way to moderate and boost capital market activities.

Nwosu said activities in the political, banking and oil sectors to a great extent would affect the  performance of the capital market.

He decried the wrong political ambitions in the country, saying that everybody focused on the forthcoming 2019 general elections.

According to him, politicians are looking for every available money to convert to cash in pursuance of their political ambitions, saying that the capital market remained the viable institution to source the cash.

“The nation’s political situation, fall in oil prices and value of Naira have invariably contributed to the continuous decline of equities prices being experienced in the capital market.

“I believed that if the political, banking and oil sectors can be improved upon and stabilised, the capital market will also pick up,” he said. (NAN)

Residents of Pesepa community in Bwari Area Council have raised alarm over  increase in cases of rape and kidnapping of their daughters in the area, calling for  urgent intervention of the government.

The Head of the community, Saleh Gyazanyimade, told the News Agency of Nigeria (NAN) on Thursday in Abuja that the girls were being kidnapped and raped at regular intervals as they walked some distance to fetch water or go to school in nearby communities.

He said that because of the security challenge, a lot of their youth had stopped going to school for fear of their safety.

The chief, who gave the population of the village as over 3, 000, however identified some of their challenges to include lack of means of potable water, as well as lack of secondary school, healthcare  facilities and electricity, among others.

“We are appealling to government to come to our aid because we have been abandoned for so long; we need  potable water, secondary school and hospital.

“At the moment, we rely on a small stream as our source of water which often pose health challenge to our children; the stream is not even enough to serve the entire population.

“Most times, people spent hours or the whole day on queue trying to fetch water, which invariably affect other daily chores.

“Majority of our girls,in the process of trekking long distance to and from school, are often raped by hoodlums.

“The only available hospital in our vicinity is a death-trap because the building is dilapidated, with neither drugs nor adequate manpower that will ensure efficient service delivery,” he lamented.

Also speaking to NAN, Mr Aliyu Pasepa, a member of the vigilante group in the community and also the Secretary-General of the Pesepa Community Development Association, said he had rescued many girls from being raped in the course of his duty.

He said that recently he, with the assistance of some security guards rescued one of their girls that was raped and held hostage by kidnappers in Kubwa.

Pasepa, who described the situation as pathetic, warned that failure by government to urgently come to their rescue, might force them to embark on protest.

NAN

The South African government on Thursday welcomed the decision by the International Court of Justice (ICJ) which orders the U.S. to ensure that sanctions against Iran do not affect humanitarian aid and civil aviation safety.

The ICJ, which is the principal judicial organ of the UN, ordered the U.S. on Wednesday to remove any impediments to the free exportation to Iran of goods required for humanitarian assistance, as well as goods and services required for the safety of civil aviation.

Following its decision in May this year to withdraw from the Joint Comprehensive Plan of Action (JCPOA), the U.S. re-imposed sanctions against Iran which had been lifted as a result of the JCPOA.

“South Africa continues to maintain that the JCPOA, unanimously endorsed by the UN Security Council, was a major achievement for multilateral diplomacy and the peaceful resolution of conflict.

“South Africa reiterates that the unravelling of the JCPOA could have unintended consequences for all parties involved and the broader international community.

“South Africa once again calls on all parties of the JCPOA to continue to honor their commitments under the agreement,” the Department of International Relations and Cooperation said in a statement.

South Africa has previously expressed its concern on the decision by the U. S. to withdraw from the JCPOA.

Xinhua/NAN

The Peoples Democratic Party (PDP), has denied the purported election of Senator Aidoko for the Kogi Eastern Senatorial District, North Central Nigeria.

A statement in Lokoja on Wednesday, signed by the Returning Officer, Sam Abenemi the State Secretary of PDP, Faruk Yahaya, and the State Publicity Secretary, Bode Ogunmola, said no primary was held to return a Senatorial candidate for the Kogi Eastern Senatorial District.

The party said that after due consultations with the electoral officials from Abuja, the returning officer and state officials of the PDP, it was resolved that the MoU allegedly signed by the PDP with APC Senators was not applicable in the Eastern Senatorial District.

This, he said, did not allow for any affirmation as demanded by the officials from Abuja.

The statement said that the party in Kogi State, therefore, advised the general public to disregard the purported primary election.

It said that the party’s leaders in persons of Mr. Ibrahim Idris, Capt. Idris Wada from the district were all in Idah on Tuesday and there was no election held there.

“The state PDP, therefore, called on its members to remain calm as efforts are being made to redress the issues surrounding the purported election and result.