Stanbic IBTC Insurance, a subsidiary of Stanbic IBTC Holdings, has launched Education Endowment Insurance  Plan, an offering that empowers parents and guardians to secure the academic future of their children or wards.

Targeting young adults,  the underwriting firm said the Education Endowment Plan encouraged parents and guardians to adopt a long-term strategy for investing in the educational future of their children through the launch.

The company aims to raise awareness about the importance of investing in education.

It said by opting for the Stanbic IBTC Education Endowment Plan, parents could benefit from a comprehensive investment solution that safeguards their children’s academic journey.

At the media launch of the product in Lagos, the Chief Executive  Officer Stanbic IBTC Insurance,  Akinjide Orimolade, explained that the Education Endowment Plan offered families a strong financial safety net.

“This product ensures the protection of their children’s education, regardless of life’s uncertainties; providing reassurance and confidence. By making strategic investments today, parents can secure access to education for their children, enabling them to realise their full potential and pursue their aspirations.

“We are proud to launch the Education Endowment Plan campaign, an insurance product that aligns with our commitment to empowering parents in Nigeria to attain financial security for the education of their children,” he stated.

The health of Tigran Gambaryan, Binance executive remains uncertain one month and one week after Justice Emeka Nwite ordered the Nigerian Correctional Service (NCS) to transfer him to a capable medical facility for treatment.

Gambaryan is Binance’s head of crime compliance.

His family said, “He has had double pneumonia and malaria whilst in prison” and reports said he Gambaryan’s health remains in grave danger.

In addition, the first witness from the Securities and Exchange Commission (SEC) was cross-examined on Monday, resulting in the adjournment of the money laundering trial against Binance and two executives until July 5.

The court is still aware that, despite repeated court orders, the prison where Gambaryan is being kept has not produced his medical documents from his single hospital visit, which occurred a month ago.

According to his family members, Gambaryan’s health is declining.

Justice Nwite again ordered that the reports be sent to Gambaryan’s counsel by Friday.

Gambaryan’s family spokesperson said that “Tigran’s health continues to deteriorate in detention, and he complained of numbness in his foot as well as back pain[…] He has had double pneumonia and malaria whilst in prison.” His wife added that: As I have stated many times before and as the evidence in court is showing, Tigran has never been a decision-maker at Binance, and there is no justification for his continued detention […] It is time for the Nigerian authorities to do the right thing and release my innocent husband.

The defense’s extensive questioning of a representative of SEC to refute allegations that Binance had engaged in the unlicensed offer and sale of securities has led to the recent dispute regarding Gambaryan’s health.

Gambaryan, the crypto exchange’s head of financial crime compliance, has been detained in Nigeria since February and is currently being held in Kuje prison.

The Binance exec is being held alongside members of the terrorist organization Boko Haram.

Nadeem Anjarwalla, another executive who is also accused of money laundering, has since fled.

Internet services were restricted in several areas across Mauritania yesterday, including the capital Nouakchott, following the outbreak of protests rejecting the presidential election results.

According to eyewitnesses, the internet services of mobile phones were cut off in certain Mauritanian cities, while remaining functional on the landline services.

The Mauritanian authorities and telecommunications companies are yet to comment on the issue.

On Monday, several cities across Mauritania, including Nouakchott, saw protests by supporters of candidate and human rights activist Biram Ould Dah Abeid, who came second in the results of the presidential elections.

He rejected the election results, and called it an “electoral coup.”

The National Independent Electoral Commission on Monday said incumbent Mauritanian President Mohamed Ould Ghazouani won the presidential election with 56.12% of the vote, while Biram Ould Dah Abeid came in second with 22.10%.

On Saturday, Mauritanians cast their ballots to choose a new president among seven candidates.

The northern African country has experienced several coups between 1978 and 2008, with 2019 marking the first peaceful power transfer between elected presidents since its independence from France in 1960.