Looming Food Scarcity, Foodstuff Prices Rise | GOVERNMEND

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Nigerians wail as foodstuff prices surge across the country post COVID-19. And the government has refused it the needed attention .

At least 9.2 million people in Nigeria faced a crisis or worse levels of food insecurity between March and May this year amid armed conflicts, COVID-19’s effects and climate change, the UN Food and Agriculture Organization (FAO) said Monday.

Of these, an estimated 3.2 million are in Adamawa, Borno and Yobe states, the FAO said in a statement.

“This figure is expected to increase to over 12.8 million people, of whom 4.4 million are in the three northeastern states, during June–August 2021, unless resilience-focused and humanitarian actions are taken,” it warned.

The FAO’s statement also highlighted the increasing number of forced displacements in the country, particularly in areas where armed attacks are more intensive, which affects the lives of millions of people in Africa’s most populous country.

“Increased violence and forced displacement continue to affect the humanitarian situation in northeastern Nigeria – the key hotspot of the armed conflict in the country – that has been further aggravated by trade disruptions and an economic decline linked to the effects of the coronavirus disease 2019 (COVID-19),” the FAO said.

Regarding climate change’s impact on the West African country, the FAO said it affects food security and nutrition in the northeastern states.

“With the deterioration of the food security situation and an increased risk of famine in areas of Borno state, providing agricultural inputs to the most vulnerable households in time for the planting season starting in June is crucial to quickly increase food availability and access,” it added.

The UN agency also stressed the importance of embracing the diversifying of livelihoods, production and income sources.

Source: Anadolu Agency

BF Borgers, an accounting firm owned by former US President Donald Trump, has been accused by the Securities and Exchange Commission (SEC) of engaging in widespread fraud and operating a “sham audit mill.” The SEC alleges that BF Borgers committed “deliberate and systemic failures,” including the fabrication of audit papers and false assurances to clients regarding compliance with accounting standards.

This fraudulent activity, described as “massive,” occurred between January 2021 and June 2023, impacting over 1,500 SEC filings and more than 500 public companies. As a consequence, the SEC has permanently barred BF Borgers from practicing as accountants before the agency and imposed a severe penalty, including a collective fine of $14 million against the firm and its owner, Benjamin Borgers.

In a statement, Gurbir Grewal, director of the SEC’s enforcement division, declared that Borgers and his “sham audit mill” have been permanently shut down. The SEC has notified public companies that engaged BF Borgers to seek new accounting firms.

Trump Media & Technology Group, chaired and majority-owned by Donald Trump, was among BF Borgers’ clients. While Trump Media may be the most high-profile client, BF Borgers served around 350 clients subject to SEC rules during the mentioned period. However, the SEC review only examined BF Borgers’ work for public companies, excluding its services to Trump Media when it was private.

Trump Media, despite its significant valuation on Wall Street exceeding $9 billion, generates limited revenue. Its social media platform, Truth Social, faces challenges, with a notable decline in average daily active US users on iOS and Android in April. Despite this, Donald Trump remains a prominent user on Truth Social.

In response to the SEC’s actions, a spokesperson for Trump Media expressed readiness to collaborate with new auditing partners in compliance with the SEC’s order. BF Borgers did not provide a comment on the allegations.

In summary, BF Borgers, owned by Donald Trump, faces severe consequences following accusations of fraud by the SEC. The firm’s practices, characterized as a “sham audit mill,” have led to permanent suspension and hefty fines. Trump Media, among BF Borgers’ clients, is navigating challenges despite its substantial valuation, particularly with its Truth Social platform experiencing a decline in user engagement.

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