Members of the #BringBackOurGirls campaign embraced each other in the Nigerian capital on Wednesday as the news broke that that one of the more than 200 schoolgirls kidnapped by Boko Haram from the town of Chibok more than two years ago had been rescued. Afolabi Sotunde/Reuters
Members of the #BringBackOurGirls campaign embraced each other in the Nigerian capital on Wednesday as the news broke that that one of the more than 200 schoolgirls kidnapped by Boko Haram from the toShow more

Chibok girl’s rescue from Boko Haram raises hopes for others held



Kano, Nigeria // The first schoolgirl abducted by Boko Haram in Chibok more than two years ago has been found, the military and activists said on Wednesday, raising hopes for the release of 218 others still being held.

Amina Ali was discovered on Tuesday in the Sambisa Forest area of Borno state by civilian vigilantes assisting the military. She was brought back to her home town of Mbalala, near Chibok north-east of Nigeria.

“She met her parents, who recognised their daughter before she was taken to the military base in Damboa,” Ayuba Alamson Chibok, a community leader in Chibok, said.

“Her father’s name is Ali and the girl’s name is Amina. I know the family very well because I have worked with them, being a spokesman for the families of the Chibok girls.”

Yakubu Nkeki, head of the Abducted Chibok Girls Parents’ group, also confirmed her name and said she was 17 when she was abducted.

He added: “She’s the daughter of my neighbour ... They brought her to my house.”

Tsambido Hosea Abana, a Chibok community leader in the capital, Abuja, from the BringBackOurGirls pressure group, also gave an identical account.

All three men said the teenager appeared to have given birth while in captivity while Mr Abana said she had told family there were other kidnapped girls in the forest, but six were already dead.

The Sambisa Forest has long been known to contain Boko Haram camps. Other abducted women rescued from the former game reserve over the last year have reported seeing some of the Chibok girls.

Army spokesman Col Sani Usman confirmed the girl’s rescue, but gave a different name – Falmata Mbalala. He said she was found by troops in Baale, near Damboa.

Manaseh Allan, a Chibok youth leader, said it was not uncommon for children in the town to use different names at home and at school.

The leader of the BringBackOurGirls group in Abuja, former education minister Oby Ezekwesili, tweeted: “It is OFFICIAL. OUR #ChibokGirlAminaAli of Mbalala village is BACK!!!!!!!

“#218ShallBeBack because #HopeEndures... Thanks #CivilianJTF and @HQNigerianArmy.”

The group has mounted daily vigils in the capital since the abduction calling for the release of the schoolgirls and hundreds of other hostages.

Boko Haram seized 276 students from the Government Girls Secondary School in Chibok on the night of April 14, 2014.

Fifty-seven managed to escape in the immediate aftermath.

The abduction sparked outrage worldwide and brought global attention to the Boko Haram insurgency, which has killed at least 20,000 people and made more than 2.6 million homeless since 2009.

Nothing had been heard from the 219 still held captive since a video published by the insurgents in May 2014, until an apparent "proof of life" message was sent to the Nigerian government earlier this year.

Fifteen of the girls, wearing black hijabs, were seen in the video, which was purportedly shot on December 25 last year.

But despite the identities of the girls being confirmed by mothers and a classmate, the government said it was cautious about raising hopes of their release.

There have been previous claims of talks with Boko Haram, whose leader Abubakar Shekau has said he would release the hostages if militant fighters held in Nigerian custody were released.

But the talks appear to have been with factions of the group, without the approval of the high command.

The video gave weight to theories the girls were split up after the abduction and were being held in separate locations, complicating any possible talks or a rescue bid.

The girls were taken as Boko Haram captured swathes of territory in northeastern states in 2014. But the insurgents have been pushed out by a military fight-back in the last 15 months.

Nigeria’s president Muhammadu Buhari, who has said Boko Haram is “technically” defeated, has said success in the campaign would be measured on the return of the Chibok girls and other abductees.

* Agence-France Presse

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Moment of the day Lahiru Gamage, the Sri Lanka pace bowler, has had to play a lot of cricket to earn a shot at the top level. The 29-year-old debutant first played a first-class game 11 years ago. His first Test wicket was one to savour, bowling Pakistan opener Shan Masood through the gate. It set the rot in motion for Pakistan’s batting.

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

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Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

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Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

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The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

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