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Three Vigilantes Killed In Fresh Plateau Attack

Three vigilantes have reportedly been killed by armed men in NTV community, Barkin Ladi Local Government Area of Plateau State, on Tuesday night.

Residents said the incident occurred around 11 p.m., heightening tension in the community.

Daily Trust gathered that the gunmen reportedly opened fire on the vigilantes who were keeping watch over the community against any unforeseen threat.

A resident of the community, Gabriel Ayuba, confirmed the incident in a telephone interview with our correspondent in Jos.

He said, ‘The incident happened around 11 p.m. The men were watching over the community when the gunmen shot at them. It is very sad that people who were only protecting the community were attacked and killed.’

Also confirming the incident, spokesman of the Berom Youth Moulders, Rwang Tengwong, said three persons lost their lives in the attack.

He added, ‘The incident is unfortunate, and we call on the security agencies to intensify patrols and take proactive measures to protect our communities. The people cannot continue to live in fear while those volunteering to protect their communities are being killed.

‘I urge security operatives to thoroughly investigate the attack, identify those responsible and ensure that the perpetrators are brought to justice.

‘I also appeal to residents to remain vigilant and report suspicious movements to security agencies. The safety of lives and property must remain a collective responsibility.’

Spokespersons of Operation Enduring Peace and the State Police Command, SP Alabo Alfred, did not respond to inquiries by our correspondent.

Our correspondent reports that the latest attack came as killings and tension escalated in different parts of the state, with both farmers and herders blaming each other for being responsible for the violence.

Namilyango, Bweranyangi set Titans’ pace

Namilyango College team captain Milton Edimu is happy to carry a slim four-point advantage over the rest of the 14 schools after the first leg of the fifth Clash of the Titans Golf Championship last weekend.

Edimu and his old boys (OBs) of Namilyango (Ngo) garnered 356 points from their top 10 best players who competed in a 200-player field at Uganda Golf Club (UGC) in Kitante.

And the total earned them a small margin, ahead of King’s College Budo (KCB), who polled 352. ‘The team was relaxed going into the game, no pressure,’ remarked Edimu.

‘We take the event as a fun and banter filled day. It also helped I think that we had a mix of low, middle and high handicappers,’ he said.

Ngo’s best player was Mary Louise Simkins Memorial Club vice-captain Kenneth Tumusiime who returned 43 stableford points off handicap 24. Edimu too returned 40 points to give Ngo an advantage ahead of the final leg in Entebbe on October 10.

The Clash of the Titans tournament cluster golfers into teams pegged to their former secondary schools, irrespective of cohort years but the trick is in pulling up sizable numbers.

‘Raising the numbers is not a challenge especially for Namilyango, Smack and KCB. It is selecting the restricted number for the tournament due to the increased number of schools and course limits. So come Entebbe leg, we expect another mix of players hungry to contribute,’ Edimu stated.

The competition in the tournament is now tighter. The top three schools are separated by six points with Ntare School third on 350 points.

For the ladies’ schools alone, Bweranyangi Girls SS by Gloria Mbaguta, polled 157 points but Maryhill High is on their heels with 149 points while Gayaza High School (Giza) scored 101 points.

FIRST LEG RESULTS

TOP SCHOOLS – MIXED

1 Namilyango (Ngo) 356 points

2 King’s College Budo (KCB) 352 pts

3 Ntare School 350 pts

TOP SCHOOLS – LADIES ONLY

1 Bweranyangi Girls SS 157 pts

2 Maryhill HS 149 pts

3 Gayaza HS (Giza) 101 pts

GROUP WINNERS – MEN

GROUP A

Winner: Joel Nagaba (Chaapa) 41 pts

1st Runner-Up: Lawrence Walakira (Gongos) 38 pts

GROUP B

Winner: John Waigo (KCB) 42 pts

1st Runner-Up: Milton Edimu (Ngo) 40 pts (c/b)

GROUP WINNERS – LADIES

GROUP A

Winner: Josephine Njoroge 39 pts

1st Runner-Up: Gloria Mbaguta (Bwera) 35 pts

GROUP B

Winner: Sandra Komakech (Giza) 35 pts (c/b)

1st Runner-Up: Viola Ayebare (Maryhill) 35 pts

SENIORS WINNERS

Winner: Rose Azuba (Giza) 33 pts (c/b)

Runner-Up: Arthur Gakwandi (Ntare) 33 pts

NEAREST TO THE PIN

L: Maxi Byenkya (Gungas)

M: Charles Kalumuna (Ngo)

LONGEST DRIVE

M: Lawrence Walakira (Gongos)

L: Esther Birungi (Giza)

PDP defends Wike’s support for Tinubu

The Peoples Democratic Party (PDP) has defended FCT Minister Nyesom Wike’s decision to support President Bola Tinubu while retaining his PDP membership.

PDP National Publicity Secretary, Jungudo Mohammed, described the decision as a legitimate constitutional right in a statement issued on Tuesday.

Mohammed dismissed the rejection of Wike’s support by the All Progressives Congress (APC) Governors’ Forum, attributing it to fear and poor governance.

He said APC governors initially mistook Wike’s support for Tinubu as an endorsement of the APC.

According to him, they later realised that the support did not amount to surrendering political space to the APC.

‘The APC governors’ demand that Wike should not field candidates to challenge them is a major miscalculation,’ Mohammed said.

He said the demand exposed the governors’ anxiety over the prospect of facing a stabilised PDP in the 2027 elections.

Mohammed said that if the APC governors were confident in their records, they should welcome open political competition.

He said the governors should not seek to prevent opposition parties from fielding candidates in the forthcoming elections.

Describing Wike as a proven political asset and mobiliser, Mohammed warned against underestimating his political influence.

‘Wike is a force to reckon with, not a force to reject. Those who underestimate his capacity do so at their own political peril,’ he said.

The PDP spokesman advised APC governors to focus on accountability and proper management of Federation Account Allocation Committee (FAAC) resources.

He said the party remained committed to fielding credible candidates for the 2027 general elections.

Mohammed maintained that Wike’s political support for Tinubu did not extinguish his rights and responsibilities as a PDP member.

Aig-Imoukhuede queries use of $160b allocations to Niger Delta in 27 years

Chairman of Access Holdings, Aigboje Aig-Imoukhuede, has challenged political, business and community leaders in the Niger Delta to explain how an estimated $160 billion in federal allocations and intervention resources received by the region since 1999 failed to translate into commensurate productive assets and prosperity.

Aig-Imoukhuede threw the challenge while delivering the keynote address at the inaugural Niger Delta Economic and Investment Summit in Port Harcourt, Rivers State yesterday.

At the summit organised by the Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) in partnership with the Niger Delta Development Commission (NDDC), World Trade Organisation(WTO) Director-General Ngozi Okonjo, NDDC Managing Director, Samuel Ogbuku and other stakeholders called for the establishment of regional railways and an integrated power plant in the region.

Aig-Imoukhuede said: ‘What did 27 years of resources produce? And I want to start from 1999. Since 1999, by my estimates, the Niger Delta states and their local governments have received the historical equivalent of $140 billion in federal allocations, including the benefit of agriculture.

‘When the substantial resources separately channelled through the NDDC are taken into account, I think the accumulated resources have been about $160 billion over 27 years. There are no single consolidated public accounts. And forced precision would weaken rather than strengthen the argument.

‘So, it’s not about whether the figure is $160 billion, $200 billion, or $130 billion. But I would imagine that I’m not too far off. So the question is no longer how much came to the Niger Delta. The question is: what stock of productive capital did this $160 billion give?

‘What infrastructure do we have that raises productivity? What industrial capacity was created? What regional economic platforms emerged? What institutions have been established that can repeatedly originate, finance, and execute complex projects?

”What globally competitive enterprises grew out of this period? What assets would still be producing 25 years from now?’

He said the region’s fundamental problem was no longer its resource endowment or contribution to Nigeria’s economy, but its inability to convert its vast resources into productive capital, competitive businesses, jobs and improved living standards.

According to him, the Niger Delta must urgently move from a ‘rent-focused economy’ to a productive economy and develop a compact involving governments, the private sector, communities, development institutions and long-term investors.

He said: ‘The central economic question confronting the Niger Delta today is no longer whether the region is richly endowed. That question was settled decades ago.

‘The more difficult question I believe this summit seeks to answer is why have extraordinary resource endowments not produced a commensurate level of broad-based human prosperity?’

Aig-Imoukhuede said the region, despite its oil and gas wealth, coastlines, waterways, fertile land, ports, universities, entrepreneurs and youthful population, continues to grapple with widespread poverty.

He challenged the region’s political and economic elite to accept responsibility for the development failures rather than blame only the Federal Government.

‘Those of us, and I include myself and literally everybody here, who have benefited from education, political office, business success, professional achievement, traditional authority and social privilege, also have to examine our contribution to the development outcome,’ the Access Holdings boss added.

Aig-Imoukhuede said the Niger Delta has a ‘conversion problem,’ stressing that natural resources alone cannot create prosperity.

‘Natural resources create possibilities, but it is institutions that determine what happens to our possibilities and our dreams,’ he said.

In her virtual goodwill message, Okonjo-Iweala said the region’s development indicators remained troubling despite its enormous natural and human resources.

She said available data showed that only four Niger Delta states were among the top 10 on the National Human Development Index, which measures education, health and living standards

The WTO boss said about 24 million people, representing roughly 48 per cent of the region’s estimated 50 million population, are multidimensionally poor.

She added that about 60 per cent of households in the region lacked access to clean drinking water, compared with a national average of 51 per cent.

Seventy-two per cent, according to her, lack adequate sanitation facilities.

Okonjo-Iweala urged the private sector to lead efforts to reverse the trend by investing in the region and demonstrating that the Niger Delta was open for business.

‘The private sector, led by the Chambers, could partner with the governments of the region to establish viable special economic zones that form the backbone of a regenerated Niger Delta region,’ she said.

She identified critical minerals, agriculture and the coastal economy as three areas in which the region could diversify beyond oil.

On his part, the NDDC Managing Director, Dr Ogbuku, said the summit provided an opportunity for the region to rethink its economic future rather than continue its historical dependence on oil.

He said the revival of the Niger Delta Chamber of Commerce was designed to create a bridge between the Commission, government institutions, businesses and the people.

He disclosed that the NDDC had provided funds to support small and medium-scale enterprises through the Chamber, stressing that the initiative was structured to reach qualified beneficiaries rather than operate through political patronage.

He said the region must stop relying on outsiders to develop it and begin investing its own resources in the Niger Delta.

‘The main resource of the Niger Delta is the people. Good oil will come and go, but the human resources will remain,’ he said.

The NDDC boss proposed a common regional development roadmap involving the nine Niger Delta states, including integrated power and rail systems that would facilitate movement of goods, services and people across the region.

‘One state alone cannot do it. But in coming together, we can achieve this,’ he said.

NDCCITMA Chairman, Idaere Ogan, said the summit was designed to move the region beyond repeated discussions about its potential to actual investment and value creation.

He added that the objective was to move ‘from resources to productivity, from extraction to value, and from dependence to sustainable economic diversification.’

Atiku mourns Olu Jacobs, says Nigeria lost cultural institution

Former Vice President and presidential candidate of the African Democratic Congress (ADC), Alhaji Atiku Abubakar, has mourned the passing of veteran Nollywood actor, Olu Jacobs, who died at the age of 84.

In a post on his official X handle on Wednesday, Atiku described the late actor as far more than a great performer, saying Nigeria had lost an institution and a cultural icon.

‘I am profoundly saddened by the passing of Olu Jacobs at the age of 84. Nigeria has lost far more than a great actor; we have lost an institution, a cultural icon and one of the finest ambassadors of our creative spirit,’ Atiku wrote.

He said that for generations of Nigerians, Jacobs was a familiar and commanding presence in their homes, noting his unmistakable voice, dignity and talent.

‘For generations of Nigerians, Olu Jacobs was a familiar and commanding presence in our homes. That unmistakable voice, the dignity he brought to every role and the sheer force of his talent made him one of those rare artists who did not merely act before an audience, but became part of our collective memory,’ he said.

Atiku noted that long before Nollywood became a global phenomenon, Jacobs was already carrying the Nigerian name with distinction, laying the foundation for the industry through decades of dedication.

‘Through decades of dedication to his craft, he helped lay the foundations upon which an entire industry would rise. He gave life to our stories, dignity to our culture and inspiration to countless younger actors who followed the path he helped to clear,’ he stated.

He said Jacobs’ death felt personal to a nation that had watched and admired him.

‘The curtain may have fallen on an extraordinary life, but the characters he gave us, the standards he set and the generations he inspired will continue to speak for him,’ Atiku said.

The former Vice President extended his condolences to the actor’s wife, Joke Silva, their children and the entire Jacobs family, as well as the Nollywood family, the African creative community and millions of admirers worldwide.

‘My heart goes especially to his beloved wife and lifelong partner, Joke Silva, their children and the entire Jacobs family. I pray that the memories of the beautiful life they shared with him will bring them strength through this painful season,’ he said.

Atiku added: ‘Olu Jacobs gave Nigeria his talent, his voice and a lifetime of excellence. Nigeria will remember him with pride, affection and profound gratitude. May God grant his soul eternal rest and comfort his family in this hour of grief.’

Man Remanded For Allegedly Killing Friend With Cutlass

A Kano Magistrate’s Court has remanded a suspect, Nazifi Kabir Liringo, in a correctional centre over the alleged killing of his friend while they were cutting grass in Abuja.

Liringo, a resident of Dambatta Local Government Area, was arraigned before Magistrate Court 27, Nomans Land, presided over by Magistrate Hauwa Abba Musa, on a charge of culpable homicide under Section 222 of the Penal Code.

Prosecutor Maryam Halilu Dantiye told the court that it was a fresh charge and sought permission to have it read to the defendant.

The court’s clerk, Muhammad Musa Tudun Wada, read the charge to Liringo, but proceedings could not continue as the court lacked jurisdiction to hear the case.

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The magistrate subsequently ordered that the defendant be remanded in a correctional centre and adjourned the matter until October 6, 2026.

Police alleged that Liringo killed his friend, Zaharaddin Adamu, after allegedly striking him with a cutlass while they were cutting grass in Abuja.

Adamu reportedly died from injuries sustained in the incident.

Rescue, Rehabilitation and Insolvency Act No. 12 of 2026: A fresh path for debt recovery

Sri Lanka has undergone back to back severe economic catastrophes starting from COVID -19 pandemic extended to the economic mayhem triggered with foreign currency crisis and massive policy issues finally exacerbated with the external shocks emerging from the global war situation. A number of local businesses have been drastically collapsed during the period of economic crisis; especially SMEs and MSMEs have been operationally terminated due to the intolerable cost escalations within the businesses. Sri Lanka cannot expect any economic prosperity without any growth in SMEs and MSMEs which are the backbone of the economy of the country.

Hence, there should be a business friendly ecosystem within the country where support to the entrepreneurs to boost up their businesses even in the catastrophic moments. The Rescue, Rehabilitation and Insolvency (Personal and Corporate) Act No. 12 of 2026 is effective from 17.06.2026 while gradually navigating the entire ecosystem inclusive of the financial institutions and the judiciary system towards a business restructuring direction rather initiating cumbersome litigation process against the defaulted entrepreneurs who are unfortunately, the victims of the current vicious eco cycle, but not the willful defaulters.

Rescue, rehabilitation and insolvency laws in USA, Singapore and India

In the USA, under the Chapter 11 Framework which is established on the ‘Debtor – In – Possession’ concept, businesses are allowed to operate even in a situation of financial distress. The debtor remains in possession of the distressed business while enjoying the restructuring mechanism which is enforced by the judicial authority. The arithmetic behind the Chapter 11 Framework is to estimate the gap between the income that can be generated from the total assets of the company and the amount of the proceeds that can be generated by the way of realisation of the existing assets of the company. When there is a positive value, the company is allowed to have restructuring due to the going concern value of the company is larger than the liquidation value.

Following the USA, the Insolvency, Restructuring and Dissolution Act (IRDA) was enacted by Singapore in 2018, while legally enforcing a debt moratorium, a cross class cram down, pre- packaged schemes and rescue financing provisions for the defaulted debts.

India introduced Insolvency and Bankruptcy Code (IBC) in 2016 with some commendable infrastructure like dedicated Corporate Law Tribunals, an insolvency regulatory mechanism and an insolvency procedural timeline. Prior to this IBC, the Company Act was updated with the measures of rescue and restructuring of the companies while allowing them to make an application to the National Company Law Tribunal (NCLT) with a draft scheme of revival and rehabilitation of the distressed company. Within a week, the NCLT had to appoint an interim administrator to assess the draft of the revival proposal and finalise it on the approval of the creditors. This was called ‘a scheme of arrangement’ which was not very popular due to the excessive procedural requirements, delays in court processes and lack of the cooperation of the creditors.

With the IBC in 2016, National Company Law Appellate Tribunal (NCLAT) was established with the composition of judicial members and technical members. This includes the retired judges of Supreme Court, India as the judicial members and corporate lawyers, labor lawyers, chartered accountants and company secretaries as technical members. Insolvency Process is regulated by the Insolvency and Bankruptcy Board and followed by three policy objectives namely maximisation of the value of the assets, facilitating restructuring based on renegotiation and quick and fast liquidation. However, unlike in the USA and Singapore, India follows the ‘Creditor/ Administrator/ Trustee – in – Possession’ model.

Key aspects of Rescue, Rehabilitation and Insolvency (Personal and Corporate) Act No. 12 of 2026

It is not only about the Insolvency, but the Rescue and Rehabilitation are strongly prioritised. More specifically, it is not addressed only the defaulted corporations inclusive of SMEs and MSMEs, but also the personal insolvency procedure is precisely included.

Establishment of the Insolvency Regulatory Authority

The Insolvency Regulator Authority is the apex body for regulating the insolvency framework stipulated by the Act inclusive of both Personal Insolvency and Corporate Insolvency. This authority mainly consisted of Official Receiver, Deputy Official Receiver and Insolvency Practitioners.

Personal insolvency procedure

The debtor should submit a full statement of all the financial affairs inclusive of the disclosure of income, properties and liabilities to Personal Insolvency Official who is appointed under the Act as an independent statutory officer to administer and investigate the assets and financial affairs of the debtor and to supervise the personal insolvency procedure.

Eligibility to have a Debt Protection Moratorium Order for a debtor

A Debt Protection Application can be made by a distressed debtor who intends to prepare a proposal for a debt restructuring arrangement. During the Debt Moratorium Period, the creditor should not take any remedial action in respect of the debt inclusive of any recovery of interest, charges, penalties or any other fees. And the non- payment of the debt during the Debt Protection Moratorium Period should not be considered as a default or breach of the contract between the debtor and the creditor.

The debt moratorium period is 60 days and can exceed up to 90 days to the maximum of 360 days. During the debt moratorium period, the debtor shall inform the material information of the financial position to the official receiver. This is a period of analysis available for the official receiver while keeping the debtor under observation in order to have a justifiable resolution for both debtor and the creditor. The creditor can object to this debt protection moratorium order on special grounds, the court can cancel the order accordingly.

Debt restructuring arrangement

The Personal Insolvency Proposer or the Personal Insolvency Administrator can negotiate a flexible repayment arrangement with the debtor’s creditors. A debt restructuring proposal is prepared by the Personal Insolvency Proposer where the tenure of proposal should be 3 Years or 7 years if the total debt is exceeded Rs. 10.0 million. All the payments should be done through the Personal Insolvency Administration.

Further, all the expenses derived during the restructuring process should be prioritised to pay before other liabilities. If the majority of the creditors approve the Debt Restructuring Arrangement, it will be published in the Personal Insolvency Register and by a public notice. Up on the completion of the Debt Restructuring Arrangement, the debtor is provided ‘ A Certificate of Completion’

Debt Rehabilitation Order

The purpose of the debt rehabilitation order is to provide immediate working capital for urgent economic rehabilitation and to have a relief from over indebtedness and finally to generate the repayment to the creditor. A certificate is issued by the official receiver with a recommendation for a Debt Rehabilitation Order. Then the court issues a Debt Rehabilitation Order and it is published in the Personal Insolvency Register and by a public notice.

The Debt Rehabilitation Order can be continued until an order of discharge for a period of 1 Year with the extension of 90 days up to the maximum time period of 1 year. After this one year, the court issues an order confirming the Certificate of Discharge.

If none of these remedial measures are not succeeded, finally as a final insolvency process available for the debtor, the court issues the Bankruptcy Order. The purpose of the bankruptcy procedure is to relieve the debtor from overwhelming debts subsequent to the fair distribution of the available assets among the creditors. Ultimately, the debtor can establish a new financial start with a more balanced approach with the learned lessons and nourished exposure in a resilient manner.

Corporate insolvency procedure

The corporate insolvency procedure is thoroughly clarified in the Act. It is significantly contrasting with the typical winding up process which is currently operated.

Appointment of ‘the Administrator’:

The administrator can be appointed by the company by its own, liquidator or provincial liquidator with the approval of the creditors / the court or a substantial creditor / a receiver or by the court. The main purpose of appointment of the administrator is to administer the company’s affairs and the assets in order to maximise the company’s own potentiality for the best interest of the creditors and the shareholders. The administrator should publish his appointment and duly notify all the parties who hold any obligation with the company.

There should be a series of negotiations with the company and the creditors by the administrator with the purpose of having a resolution for the debt obligations.

The administration process stipulated in the Act

1. Holding an initial meeting

The administrator should give notice to all the creditors and publish the same within a stipulated time period of 7 working days before the meeting. At this meeting, all the creditors will discuss how the company debts will be dealt and what kind of resolution can be finalised.

2.Constitution of Administration Creditors’ Committee

In order to consult the administrator, the Administration Creditor’s Committee is established with the composition of all the creditors and to consider the reports submitted by the administrator. This is the body which considers and evaluates the resolution process for the purpose of maintaining the going concern of the company for the best interest of the creditors and other shareholders.

3.Holding an outcome meeting

The outcome meeting should be held within 5 working days after the convening period of 20 working days from the commencement of the administration process. However, the convening period can be extended on the resolution of the creditors or the approval of the court before the expiry of the existing convening period.

The creditors should be duly notified by both the ways of personally and publicly prior to 7 working days of the meeting. At this meeting, the deed of company arrangement which is the resolution proposed by the administrator can be approved by the majority of the creditor with the necessary amendments. This deed of company arrangement should be submitted to all the creditors and it should be published and notified to the Registrar of Companies and relevant other authorities.

4. Deed Review Hearing at the court

As per the act, there is an expedited route which is combining the initial and outcome meeting together and to approve the deed of company arrangement, subsequently to apply the court for a deed review hearing in order to determine whether the parties should be bound by the deed of company arrangement which has been approved by the majority of the creditors. This step is followed under the expedited route.

By the way of voting for the deed of company arrangement which has been proposed at the initial meeting of the administration process, all the rights of the creditor which are reserved under the law suit are superseded by the said deed of company arrangement.

Debt restructuring arrangement for micro small medium enterprises

The sector of MSMEs being an integral part of the Sri Lankan economy is well identified and specially treated under this Act by stipulating a separate section for restructuring the debts of MSMEs. The identified MSMEs which have the secured and unsecured debts not more than Rs. 50 million are entitled to submit a Debt Restructuring Arrangement through the debtor by his own or by a personal insolvency proposer on behalf of the debtor to the Official Receiver.

The Personal Insolvency Proposer should submit a statement with the Debt Restructuring Arrangement Proposal confirming that the proposal provides reasonable measures of facilitating the economic rehabilitation of the MSME debtor while allowing it to contribute the payments for the obligations with the creditors from the available assets and the cash flows. This proposal should be presented to the creditors and obtained the votes of the majority of more than two third of the total creditors. Finally, the official receiver issues a certificate recommending the Debt Restructuring Arrangement and presents it to the court.

However, on the factors of having a material inaccuracy, inability to reasonably forecast the cash flow projections and the future endeavors of the company which are stipulated in the proposal and unreasonable treatment to either debtor or a creditor, the official receiver may not issue a Certificate of Recommendation for the Debt Restructuring Arrangement.

Then the Court can call objections for creditor or debtor or personal insolvency proposer for the refusal of the issuance of the Certificate of Recommendation over the Debt Restructuring Arrangement. If the court satisfies with the evidence and submissions of the parties, the court shall make an order confirming the Debt Restructuring Arrangement. Then the Debt Restructuring Arrangement is enforceable as full and final.

However an individual creditor can object to the Debt Restructuring Arrangement and the secured creditor can be excluded from this entire process if the proposal does not allow to modify or limit the rights of a secured creditor or hire purchase agreement counterparty. In this occasion, such a secured creditor can initiate their right under the appropriate lawsuit can be enforced in spite of this Debt Restructuring Arrangement. As per the Act, the purpose of stipulating a separate process for the debt restructuring arrangement for MSMEs is to achieve economic rehabilitation while avoiding liquidation and unnecessary expenses incurred due to the cumbersome legal process.

Brief analysis of the Rescue, Rehabilitation and Insolvency procedure

The Rescue, Rehabilitation and Insolvency Act No.12 of 2026 is not just a legal enactment, it is an utmost need of the times. Sri Lanka needs to have rapid economic growth in order to achieve the National Economic Objectives. The easiest way to enhance the manufacturing and the production of the county is to rehabilitate the existing businesses by providing them the financial assistance and reducing the debt burden gradually over those businesses. The existing businesses which are experiencing ups and downs with the economic downturns from time to time, have the potentiality and the resilience to re-stabilise once again in the ground. It is more cost effective than introducing a new businessman to the field.

This Act takes the creditors and the business debtors into the negotiation table for discussing a proper way forward for the rehabilitation of the business. The typical Business Revival Process which has been implemented in the licensed commercial banks recently is legalised under this Act. The cumbersome legal process initiated by the creditors against the debtors will be converted to a constructive negotiation process which is more effective and supportive to achieve the business goals for both parties.

The Debt Restructuring Arrangement in personal and MSME insolvency and corporate insolvency is mainly prepared by the personal insolvency proposer or the administrator on behalf of the debtor. The debtor is not isolated; there is a supportive and cooperative mechanism to revitalise the debtor’s business with the approval of the creditors. The Debt Restructuring Proposal is legally enforced by the court and implemented for the best interest of both the debtor and the creditor within a prescribed period of time. The maximum effort is taken to reinstate the business; the liquidation is taken place as the ultimate recourse available for the business.

Establishment of the creative debt recovery process

The legal process of the debt recovery is currently limited to the few of legal enactments such as Debt Recovery (Special Provisions) Act No. 02 of 1990, Recovery of Loans by Banks (Special Provisions) Act No. 04 of 1990, Mortgage Bond Act No. 6 of 1949, Civil Procedure Code and Small Claims Court Procedure Act No. 33 of 2022. In addition, there are other special legal enactments allowing the State Banks to initiate the Parate Execution against the Mortgage Properties. The banks are used to influence the customers for the repayments of the defaulted liabilities by enforcing their rights reserved from the said legal enactments.

Some of these legal actions are unilateral; completely deprive the limited capacity available for the business to revive with the huge reputational damage incurred by the adverse publicity of the indebtedness. Rescue, Rehabilitation and Insolvency Act No. 12 of 2026 provides a breathing space for such businesses and the financial creditors should be patient and follow the process stipulated under this Act. The recovery staff of such financial institutions should be more creative and vigilant to discuss a proper resolution over the debts of the defaulted customer with a holistic view of having a 360 degree analysis of the customer’s financial position without demanding the last cent in due from the customer.

Conclusion

This process is exclusively applicable only for the genuine customers who are defaulted on the adverse macro and micro economic downturns, but not for the defaulters who have deliberately refused to pay. As per the articulation of the name of this Act, it is not an insolvency procedure, the rescue and rehabilitation process is prioritised before the insolvency. Compared to traditional litigation, which is slow, rigid, and focused only on short-term recovery, this approach is far more beneficial and it acts for the best interest of the creditors. The creditor should recognise that their own security ultimately depends on the debtor’s business being protected and financially stable. In this way, the law introduces a fresh path for debt recovery which transforms the older, reactive collection methods into well-thought-out, fair, and constructive restructuring strategies.

Israeli court sentences settler to 22 years for killing Palestinian

The Nazareth District Court has sentenced Israeli settler Denis Mukin to 22 years in prison for the killing of 19-year-old Palestinian Diar al-Omari during a road-rage confrontation in May 2023.

The court on Tuesday also ordered Mukin to pay NIS 258,000 to Omari’s estate, barred him from holding a driving license for three years and confiscated the Glock pistol used in the shooting.

Mukin’s sentence was applied retroactively from May 6, 2023, the date of his arrest.

The court convicted Mukin last December of murder with indifference, finding that he knowingly disregarded the possibility that his actions could result in Omari’s death. A majority of the three-judge panel concluded that prosecutors had not established beyond a reasonable doubt that Mukin had intended to kill Omari.

Judge Osaila Abu-Assad dissented on that point, arguing that Mukin should have been convicted of intentional murder. The judges were unanimous, however, in imposing the 22-year sentence.

Road-rage confrontation

According to the court’s findings, Mukin was driving while disqualified and under the influence of alcohol and cannabis when he encountered Omari on a road leading toward Gan Ner, south of Afula, on May 6, 2023.

The two men did not know each other. Mukin became angry over Omari’s driving and unsuccessfully attempted to overtake him.

Following an exchange between the two drivers, Mukin stopped his vehicle, exited while carrying his pistol and fired several rounds into the air.

A physical struggle subsequently broke out, during which Mukin fired two shots that struck Omari. One of the bullets entered Omari’s chest and passed through his heart and lungs, causing his death.

When Omari attempted to retreat toward his vehicle, Mukin fired three additional shots, all of which missed.

The court found that after Omari collapsed, Mukin crossed the road, looked at him and left the scene without providing assistance or contacting emergency services.

Mukin later returned with his sister after asking her to tell police that she had been driving. The court found that he did so in an attempt to conceal that he had been driving while intoxicated and while his license was suspended. His sister initially provided police with that account but withdrew it shortly afterward.

Mukin was also convicted of driving while disqualified, two counts of driving while intoxicated, inducing another person to obstruct an investigation and intentionally damaging a vehicle.

Prosecution sought life sentence

Prosecutors had requested a life sentence, arguing that the killing stemmed from a trivial road dispute and demonstrated Mukin’s willingness to use a firearm.

They proposed a sentencing range of 26 years to life, citing, among other factors, the additional shots Mukin fired after Omari had already been wounded.

The defense requested a sentence of between 14 and 18 years and argued that the circumstances were consistent with self-defense, although Mukin had not relied on that argument during the trial.

FG strengthens grassroots economic support with NASENI clean-energy intervention in Oyo

The federal government, through the National Agency for Science and Engineering Infrastructure (NASENI), has empowered beneficiaries in Oyo State with clean energy and sustainable livelihood tools.

The empowerment programme, organised under the NASENI Sustainable Empowerment Programme (NSEP), was held at Alice Place, opposite UCH Second Gate, Secretariat Road, Agodi, Ibadan, Oyo State.

The programme was facilitated by APC governorship candidate in Oyo State, Barrister Sharafadeen Alli, who was represented by the Director-General of the Sharafadeen Alli Campaign Council, Asiwaju Yemi Aderibigbe.

Speaking at the event, NASENI’s Director of Information, New Media and Protocol, Olusegun Ayeoyenikan, said the agency was established to transform how Nigerians live and work by developing tools and technologies that improve traditional farming, household practices and small businesses.

He explained that, just as the agency is working to replace firewood in homes with more efficient, cleaner energy stoves, it is also driving innovations in renewable energy and productivity.

According to NASENI, the Oyo State empowerment initiative aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda on clean energy and sustainable development.

Mr Ayeoyenikan recalled that NASENI had recently carried out a similar intervention in Anambra State, where 100 young men and women received five-day training in electrical installation and maintenance, with working tools and solar home systems provided to help them start their own enterprises.

He added that a similar package of renewable energy solutions and empowerment tools, extended to beneficiaries in Oyo State, is intended to create a stronger foundation for self-reliance and community development.

In his remarks, Barrister Sharafadeen Alli commended NASENI for taking technology beyond the laboratory to households, entrepreneurs and communities.

He described the collaboration between the agency and political leadership as crucial to transforming lives and improving livelihoods.

Barrister Alli said his vision for Oyo State aligns with NASENI’s mandate, noting that technological advancement must move from abstract ideas to a practical political force that drives prosperity and national development.

He congratulated the beneficiaries and urged them to use the support wisely to improve their homes, businesses, and communities.

The empowerment items distributed to 250 women and 50 men include NASENI Solar Home Systems, NASENI Clean Cookstoves and NASENI Support Packs.

The Solar Home Systems will provide reliable renewable energy for lighting, charging essential devices and supporting household and small-business activities.

Beneficiaries from across Oyo State thanked Alli, the Federal Government, and NASENI for the intervention, describing it as life-changing support that will reduce their dependence on traditional fuel sources and improve their economic status.

NDDC to contractors: resolve disputes early, save projects from costly delays

The Niger Delta Development Commission (NDDC) has urged its contractors and consultants to resolve disputes early, warning that unresolved conflicts could derail development projects and increase costs for people in the region.

The Commission’s Executive Director, Corporate Services, Ifedayo Abegunde, made the point while opening a three-day sensitisation programme on ‘Enhancing Capacity for Alternative Dispute Resolution (ADR)’ for NDDC contractors and consultants.

Abegunde said contractors and consultants are not merely responsible for executing projects; they are also ‘critical first responders in conflict management’ because of their proximity to project sites, communities, and emerging disputes.

Early intervention in disagreements over payments, variations, designs, timelines, work quality, measurements, site access and contractual obligations could prevent minor issues from escalating into prolonged disputes.

While acknowledging that ‘conflict may be inevitable,’ Abegunde insisted that its escalation is not. He added that the NDDC is particularly concerned about dispute management because its projects are directly tied to the socio-economic well-being of communities across the Niger Delta.

‘Every project represents more than a contract. Behind every road is a community waiting for access. Behind every bridge is an economic opportunity. Behind every school, health facility or other intervention is a human need,’ he said.

Abegunde warned that when conflicts stall projects, the consequences extend beyond the contractors or the commission.

‘When conflict stalls a project, the cost is not limited to the contractor or the Commission. The real cost is borne by the people waiting for development,’ he said.

The NDDC executive director said project disputes could lead to delayed completion, increased costs, strained relationships with contractors and host communities, litigation, and lost time.

He therefore urged participants to build capacity to identify early warning signs of disputes and deploy appropriate mechanisms before they degenerate into costly legal battles.

‘We want our contractors and consultants to understand that you are not merely participants in project execution; you are also critical first responders in conflict management,’ Abegunde said.

He listed negotiation, mediation, conciliation, adjudication, and arbitration among the mechanisms available under ADR, stressing that applying them appropriately could help protect projects and contractual relationships.

The NDDC executive director also clarified that ADR should not be interpreted as a means to avoid accountability or to surrender legitimate contractual rights.

He said, ‘ADR is not about avoiding accountability, nor is it about compromising legitimate contractual or legal rights. It is about addressing problems intelligently, proportionately and as early as possible, before they become more expensive, more complicated and more damaging.’

Abegunde said strengthening the ADR capacity of NDDC contractors and consultants would ultimately improve project delivery, protect resources and preserve professional relationships.

He also linked peaceful dispute resolution directly to development, saying: ‘Peace is not separate from development; peace is one of the conditions that makes development possible.’

He urged participants to use the training to build a culture of early intervention, constructive engagement and professional dispute management.

‘Let us build a culture where we do not wait for conflicts to become crises before we act. Let us identify them early, manage them professionally and resolve them constructively,’ he said.