Connect with us

Hot News

Zeta, the 27th Named Storm upgrades to Hurricane, US Gulf Coast residents await Landfall

Published

on

Zeta Storm-Hurican
Spread the love

Zeta, the 27th Named Storm upgraded to Hurricane, US Gulf Coast residents await Landfall

Zeta, the 27th named storm of the 2020 Atlantic season is likely to make its landfall along the U.S. Gulf Coast which is still recovering from Laura and Delta.
Image: United Way of Southwest Louisiana Hurricane Relief Center

 Zeta, the storm that formed in the Caribbean over the weekend, gained strength Monday afternoon to become a hurricane, which forecasters warn is likely to make landfall along the U.S. Gulf Coast, where storm-beleaguered residents are fearful of yet another round of destruction.

Zeta, the 27th named storm of the 2020 season, had maximum sustained winds of 80 mph as it intensified into a Category 1 hurricane centered about 90 miles southeast of Cozumel island off Mexico’s Yucatán Peninsula, the National Hurricane Center said.

It is expected to break a record by becoming the 11th named storm to make landfall in the U.S. this season, with southeastern Louisiana potentially getting slammed around Wednesday afternoon, according to forecasters. Heavy rains, however, will already be felt in the central Gulf Coast on Tuesday night, spreading across eastern Mississippi and Alabama.

According to NBC News, Zeta could revert to a tropical storm by the time it makes landfall in the U.S.

“It’s going to be a close call with remaining a Category 1,” said Joe Rua, a lead forecaster for the National Weather Service in Lake Charles.

Advertisement

A hurricane watch was in effect Monday evening from Morgan City, Louisiana, to the Mississippi-Alabama border, including Lake Pontchartrain and metropolitan New Orleans. New Orleans officials also called for a voluntary evacuation Monday of some vulnerable districts as sandbags were being assembled.

No matter the storm’s strength, Gov. John Bel Edwards said, Louisiana, which is still recovering from hurricanes Laura and Delta, wouldn’t take Zeta for granted. He issued a state of emergency Monday and prepared 1,150 members of the Louisiana National Guard to be activated.

“Good thing and the bad thing is we’ve had a lot of practice this year,” Edwards told reporters.

Laura made landfall 1n Louisiana near the Texas border on Aug. 27 as a powerful Category 4 storm, with wind speeds of 150 mph and life-threatening storm surges.

Six weeks later, Delta, a Category 2 storm, raked southwestern Louisiana again, marking the sixth time this season that Louisianans had to prepare for a hurricane. Hundreds of thousands of households across Louisiana, Texas and Mississippi were left without power.

Advertisement

Lake Charles, the heart of Louisiana’s Cajun country, felt a double whammy of devastation from Laura and Delta. As residents were picking up the pieces from Laura, Delta dealt another blow.

While forecasters say Lake Charles and the rest of southwestern Louisiana are expected to dodge this latest storm, some residents rebuilding from the pair of hurricanes remain wary.

“Oh, Lord, we’ve been watching every day since I heard about it,” said Hazel Logan, 44, who was getting free meals Monday from the United Way of Southwest Louisiana’s hurricane relief center in Lake Charles.

“It’s saying it’s going more eastward, but they said that with the other storm,” Logan said, adding: “I’m just taking it day by day. I can’t lie and say I’m not concerned.”

Across Louisiana, tens of thousands of residences and other structures were partly ruined or destroyed by Laura, which primarily caused wind damage, and Delta, which brought intense flooding, said Ashley Rodrigue, a spokeswoman for the state fire marshal’s office. The agency’s surveying is used to help communities obtain federal emergency funding,

Advertisement

Since early September, the United Way of Southwest Louisiana’s relief center in Lake Charles has been operating drive-thru service to pick up food, water, cleaning supplies and baby products donated from around the world.

The nonprofit has been serving upward of 2,000 meals a day, President and CEO Denise Durel said. While evacuation orders temporarily halted its operations, Durel said, it is ready for whatever Zeta may bring — and whatever the people of the region may need.

“I don’t wish Zeta on anyone, on any community,” Durel said, “but we’re definitely just praying every day it spares us.

“I can’t even imagine what the longevity of the damage will be if we get hit again,” she said.

Advertisement
Comments

Spread the love
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Hot News

CBN Sells Polaris Bank To SCIL

Published

on

CBN Sells Polaris Bank To SCIL
Spread the love

The Central Bank of Nigeria (CBN) has announced the completion of the sale of shares in Polaris Bank to Strategic Capital Investment Limited (SCIL), a new core investor.

In a statement signed by its Director, Corporate Communications Department, Osita Nwanisobi, the CBN said that SCIL has paid an upfront consideration of N50 billion to acquire 100% of the equity of Polaris Bank and has accepted the terms of the agreement,  including the full repayment of the sum of N1.305 trillion,  being the value of the bonds, which as part of its intervention, in 2018, to revoke the licence of the former Skye Bank Plc. and establish Polaris Bank to assume its assets and certain liabilities,  the banking industry regulator injected into Polaris through the Asset Management Corporation of Nigeria (AMCON) and is to be repaid over a 25-year period.

The statement reads: “The Central Bank of Nigeria (CBN) and the Asset Management Company of Nigeria (AMCON) are pleased to announce the completion of a Share Purchase Agreement (SPA) for the acquisition of 100% of the equity in Polaris Bank by Strategic Capital Investment Limited (‘SCIL’).

“Polaris has been operating as a bridge bank since 2018 when the Central Bank of Nigeria intervened to revoke the licence of the former Skye Bank Plc. and established Polaris Bank to assume its assets and certain liabilities. As part of the CBN intervention, consideration bonds with a face value of N898 billion (future value of N1.305 trillion) was injected into the bridge bank through AMCON, to be repaid over a 25-year period.

Advertisement

“These actions were taken to prevent the imminent collapse of the bank, enable its stabilisation and recovery, protect depositors’ fund, prevent job losses and preserve systemic financial stability. SCIL has paid an upfront consideration of N50 billion to acquire 100% of the equity of Polaris Bank and has accepted the terms of the agreement which include the full repayment of the sum of N1.305 trillion, being the consideration bonds injected.

“The CBN thus received an immediate return for the value it has created in Polaris Bank during the stabilisation period, as well as ensuring that all funds originally provided to support the intervention are recovered. The sale was coordinated by a Divestment Committee comprising representatives of the CBN and AMCON, and advised by legal and financial consultants. The Committee conducted a sale process by ‘private treaty’, as provided in Section 34(5) of the AMCON Act to avoid negative speculations, retain value and preserve financial system stability.

“In the process, parties who had formally expressed an interest in acquiring Polaris Bank, subsequent to the CBN intervention in 2018, were invited to submit financial and technical proposals. Invitations to submit proposals were sent to 25 pre-qualified interested parties, out of which three parties eventually submitted final purchase proposals following technical evaluation. All submissions were subject to a rigorous transaction process from which SCIL emerged as the preferred bidder having presented the most comprehensive technical/financial purchase proposal as well as the highest rated growth plans for Polaris Bank.”

The CBN Governor, Mr. Godwin Emefiele, was quoted in the statement as saying that: “This sale marks the completion of a landmark intervention in a strategic institution in the Nigerian banking sector by the CBN and AMCON. We commend the outgoing board and management for their vital role since the bridge bank was established; in stabilising the Bank’s operations, its balance sheet and implementing strong governance structures to address the issues that led to the intervention.

“This process has provided the CBN with an unprecedented opportunity to recover its intervention funds in full and promote financial stability and inclusive growth. We wish SCIL well as they implement growth plans to build the bank from the strong foundations that have been established.”

Advertisement
Comments

Spread the love
Continue Reading

Hot News

Media Intelligence agency Marks Six years of Operation in Nigeria

Published

on

Media Intelligence agency Marks Six years of Operation in Nigeria.
Spread the love

Media Intelligence agency Marks Six years of Operation in Nigeria.

P+ Measurement Services, Nigeria’s foremost Independent Public Relations measurement and evaluation agency, celebrates its sixth year of effective operation with qualitative offerings for its numerous clients, as it rebrands with a new business logo, website, and office to deepen penetration.

The leading company has in the past six years engendered the needed growth for its clients, and the rebranding is part of efforts aimed at sustaining its leading position in the sector, having worked with over 47 brands and 17 Public Relations agencies in Africa’s largest economy.

The logo with new colors depicts the innovation and creativity of the brand, as also shown on its new website with the agency service rate, to enable brands and agencies to make faster decisions in budgeting.

YOU MIGHT BE INTERESTED IN THESE ARTICLES;

As the only AMEC Member in Nigeria, P+ has strong partnerships with the Nigerian Institute of Public Relations (NIPR) and Reelforge Media Monitoring, the biggest media monitoring agency in the East African region, covering more than five countries.

Speaking on the company’s new development, the Chief Insights Officer, Philip Odiakose, said P+ is strongly positioned to effectively deliver on its offerings, with state-of-the-art structure, process and highly skilled media analysts in an exceptional and value-driven business model in line with global best practices.

“Our Measurement and Evaluation report is in-depth, robust, and flexible to accommodate valid metrics that brands desire to see reflected in their customized reports, and also based on the AMEC Standard in accordance with the Barcelona Principle 3.0. We deploy the P+MCA (media content analysis) methodology for media evaluation and analysis based on qualitative and quantitative metrics in analyzing media exposure,” Odiakose affirmed.

He said the new office would serve as a hub in the country and the West Africa sub-region, where the company will provide media monitoring, measurement, evaluation, and performance audit services for brands, media agencies, government  agencies and NGOs.

Also as part of its efficient services, the measurement and evaluation company introduced “Get-Reports,” a novel product that allows the purchase of PR performance audit reports in key sectors.

The “Get-Reports” product spans across different industries which includes the 22 Commercial Nigerian Banks PR Performance Audit Report, Top Nigerian Insurance PR Performance Audit Report, Top Nigerian Digital Banks PR Performance Audit Report, and Top Online Streaming Services PR Performance Audit Report.

Comments


Spread the love
Continue Reading

Hot News

It’s not too late for NASS to revisit e-transmission of election results – SAN

Published

on

Spread the love

By Gistflash News

Sept 26, 2021

A Senior Advocate of Nigeria (SAN), Mallam Yusuf Ali, says it is not to late for members of the  National Assembly to revisit the issue of  electronic transmission of election results to ensure credibility.
Ali, who made the remarks while speaking in an interview with newsmen on Sunday in Osogbo, said the more credible elections were, the less litigations they will attract.
The  News Agency of Nigeria (NAN) reports  that the Nigerian Senate had on July 16, passed the Electoral Act (Amendment) Bill, 2021, after division among its members on the electronic transmission of results.

The clause 52(2) of the bill gives the Independent National Electoral Commission (INEC) the discretion to determine when, where and how voting and transmission of results will be done.

The Senate had ruled out the possibility of having results transmitted electronically when it voted that the NCC, with the National Assembly’s approval, would determine whether INEC could transmit results electronically or not.

Similarly, the House of Representatives, on July 16, passed the Electoral Act (Amendment) Bill, maintaining the controversial Clause 52(2) as presented amidst protests, especially by members of the minority caucus.

After the passage of the bill, the Speaker, Mr Femi Gbajabiamila, criticised the proposed electronic transmission of election results, saying it was not feasible in the country for now.

According to Ali, since INEC had assured that it had the capacity to transmit election ressults electronically, it should be allowed to do so.
“For me, it is not too late for the National Assembly to revisit the matter, since the INEC said it has the capacity to transmit election results electronically.
“The legislature should do that which will assist in ensuring credible elections,” he said.
Ali also urged politicians to desist from “do-or-die” politics, adding that the electoral system was too moneytised.
“One major problem with our politicians is this do-or-die politics and the moneytisation of the political process.
“That is why we see so many litigations in the political process. It is all because people see political offices as an avenue to run away from poverty and not for service.
“I have said it before, if you are given an assignment for two or four years and you do it diligently, you will not want a renewal, you will just want to go home,” he said.
NAN

Comments


Spread the love
Continue Reading
Enhance your Brand Visibility

LET’S REVAMP YOUR BUSINESS

Let’s keep you updated

Advertisement

HOW TO BUY FOLLOWERS FOR ALL YOUR SOCIAL MEDIA ACCOUNTS

Gorgeous Bride rocking one of Beyonce’s Hit song

Most Viewed Posts

Trending

Enable Notifications OK No thanks