Tag: CHINA

World’s largest gold deposit found; worth over US$80bn

Aminu Imam
Gold deposit found

A deposit of high-quality gold ore containing around 1,000 metric tons (1,100 US tons) of the precious metal has been discovered in central China, according to Chinese state media. Valued at approximately 600 billion yuan, or US$83 billion, the discovery could be considered the largest and most lucrative reservoir of gold ever uncovered, surpassing the 900 metric tons estimated to lie within the mother of all gold reserves, South Deep mine in South Africa. The Geological Bureau of Hunan Province announced the detection of 40 gold veins within a depth…

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Alleged Corruption: Ex-Bank of China Chairman sentenced to death

Aminu Imam
Ex Bank of China Chairman

Former Bank of China Chairman, Liu Liange has been sentenced to death with a two-year reprieve for accepting significant bribes and issuing illegal loans.  The Jinan Intermediate People’s Court in Shandong Province delivered the verdict on November 26, 2024.  Liu was found guilty of taking bribes amounting to 121 million yuan (approximately $16.7 million) and approving illegal loans worth 3.32 billion yuan, leading to losses exceeding 190 million yuan.  His sentence includes the confiscation of all personal assets and a lifetime deprivation of political rights. The court’s ruling includes the…

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“I’m ready to take hard decisions for Nigeria to move forward” – Tinubu

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Tinubu vows

President Bola Tinubu has expressed his readiness to make tough decisions necessary for national progress. He acknowledged the challenge of achieving national consensus on various issues but emphasized the importance of such decisions for the country’s advancement. Concluding his official engagements in China, President Tinubu met with the Nigerian community and members of the Nigerians in Diaspora Organisation (NIDO China) at the China World Hotel. He described his trip as highly successful and beneficial. In his discussions with Chinese leaders, including President Xi Jinping and Premier Li Qiang, as well…

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China: Xi Jinping pledges $50bn for Nigeria, Ghana, other African nations

Aminu Imam
China pledges

China has committed over $50 billion over the next three years in financing to African nations, aiming to bolster infrastructure, agriculture, and trade, marking a significant step in Sino-African relations. The announcement came during the China-Africa Forum in Beijing, the largest summit held since the pandemic, with over 50 African leaders and UN Secretary-General, Antonio Guterres in attendance. At the Forum’s opening, Chinese President Xi Jinping declared, “China is ready to deepen cooperation with African countries in industry, agriculture, infrastructure, trade, and investment”. Xi’s pledge includes financial support amounting to…

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Kaduna Govt., Huawei sign MoU on actualisation of Smart City Project in China

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KDSG, Huawei

A Memorandum of Understanding, (MoU)  for the actualisation of the Smart City Project in Kaduna State has been signed between the Kaduna State Government and Huawei Technologies Company Nigeria Ltd., at the Huawei Technologies office in Beijing, China. The ceremony was witnessed by President Bola Ahmed Tinubu, other State governors, Ministers and senior government officials. CEO, Huawei Technologies, Nigeria Limited, Chris Lu, signed on behalf of the company. According to the State governor, Senator Uba Sani, “The MOU is geared towards enhancing security, efficiency and transparency in public service, competitiveness,…

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Kaduna: Gov. Sani secures 4 strategic investments at China-Africa Summit

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Gov. Sani China Africa Summit

Governor Uba Sani, of Kaduna State, is set to solidify crucial investments in agriculture, infrastructure, solid minerals, renewable energy, and transportation as he joins other senior Nigerian government officials for the 9th Forum on China-Africa Cooperation (FOCAC) Summit in Beijing, China. The high-stakes visit is aimed at driving Kaduna State’s development agenda through strategic partnerships with Chinese investors. The FOCAC Summit, themed: “Joining Hands to Advance Modernisation and Build a High-Level China-Africa Community with Shared Future”, offers Kaduna State a prime opportunity to attract the necessary investments to fuel its…

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Tinubu to visit China in September

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Tinubu 2 China

President Bola Tinubu is billed to depart from Abuja, the nation’s capital, in the first week of September to China. According to the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, the aim of the visit is to attend the 2024 Forum on China–Africa Cooperation. Ngelale said the China engagement is part of the efforts of the present administration’s efforts to uplift the wellbeing of Nigerians. In China, Tinubu is expected to meet with President Xi Jinping of China where Some Memorandum of Understanding (MoU) will be…

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Gov. Raɗɗa hails Buhari, as CCECC hands over Transport varsity to FG

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Raɗɗa hails Buhari

China Civil Engineering Construction Corporation Ltd (CCECC), on Friday, handed over the Federal University of Transportation, Daura, Katsina State, to the Federal Government. The State Governor, Dikko Raɗɗa, commended former President Muhammadu Buhari for ensuring execution of the project and  for providing an enabling environment for the smooth construction of the Federal University of Transportation in Daura. Raɗɗa assured the institution’s management of the State Government’s support at all times and urged youth in the State to embrace the opportunity by applying to study in the university. He said: “You…

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Shettima to represent Tinubu at Forum in China

Aminu Imam

Vice-President Kashim Shettima has departed Nigeria to represent President Bola Tinubu at the 3rd Belt and Road Initiative, (BRI) Forum in Beijing, China, holding from October 16 to 18. Spokesman for the Vice-President, Stanley Nkwocha, who disclosed this in a statement in Abuja yesterday, said Shettima would join world leaders from over 130 countries in Africa, Asia, Europe and Latin America to deliberate on the theme: “High-quality Belt and Road Cooperation: Together for Common Development and Prosperity”. According to him, the Vice-President is expected to avail Nigeria of the platform…

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Artificial Intelligence: UK warns advance forms could be used to create bioweapons

Abdul-Azeez Ahmed Kadir

The UK government says it plans to address the risks posed by advanced artificial intelligence (AI), including its possible use to create biological weapons, at the AI Safety Summit to be held in November. The UK government disclosed this in a statement on Monday “There are two particular categories of risk that we are focusing on: 1. Misuse risks, for example where a bad actor is aided by new AI capabilities in biological or cyber-attacks, development of dangerous technologies, or critical system interference. “Unchecked, this could create significant harm, including…

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