Tag: deal

  • Oil swap deal: ‘AITEO not involved in $150m fraud’

    Oil swap deal: ‘AITEO not involved in $150m fraud’

    The management of AITEO Group has denied involvement in any $150 million shady deal in crude oil-for-refined-products-exchange programme.

    The firm’s clarification came as the Economic and Financial Crimes Commission (EFCC ) intensified investigation into the alleged oil-swap scandal in the petroleum sector.

    AITEO said it has submitted relevant documents to the EFCC and the Department of State Security Service (DSS) to prove that its crude oil-for-refined-products-exchange programme had been transparent

    The EFCC recently started investigation into how the Federal Government was allegedly short-changed by the Nigerian National Petroleum Corporation (NNPC) in swapping crude for refined products.

    The company, in a statement in Abuja by its spokesperson, Miss Aiki Odiawa, said it had never acted as a front for former President Goodluck Jonathan and ex-Minister of Petroleum Resources Mrs. Diezani Alison-Madueke.

    It said its transactions with NNPC required quarterly reconciliation to determine all crude oil loaded and refined products delivered.

    The statement read in part: “Executive Management of AITEO makes reference to three publications of April 28, 2014, June 10, 2015; and June 7, 2015 (Oil Traders, NNPC Officials Interrogated, watch-listed in Major Investigations) in which spurious allegations were made about the company and one of our founders, Mr. Benedict Peters.

    “Without prejudice to any legitimate fact-find process lawfully authorised by Nigerian authorities, as a corporate entity whose success has been as a result of dynamism, foresightedness and fortitude, it is pertinent that clarification is made to the general public on the position of AITEO.

    “AITEO in collaboration with Duke Oil participated in both the SWAP crude oil-for-refined-products-exchange programme and Offshore Processing (OPA) Agreement, which are both governed by robust legally binding agreements with provisions for strict commercial considerations backed by the necessary financial instruments to mitigate and manage potential risks of transactions of this nature.

    “AITEO’s participation in the programmes was premised upon AITEO having fulfilled all requirements precedent to being nominated and gaining the objective confidence of the Management of NNPC on its strong competence and ability to deliver on the said contracts as and when due.

    “Never at any point has AITEO unfairly exploited its commercial relationship with NNPC under the SWAP or OPA contracts.

    “Further allegations that AITEO was more than 20 cargoes in arrears on the new deal are completely false.

    “In fulfillment of our outstanding obligation on the Duke Oil SWAP and contracts, we have decided to nominate two cargo deliveries to fully liquidate any outstanding deliveries due to PPMC.

    “However, should there still exist a deficit after reconciling positions, where there is an over delivery, PPMC will issue a credit note in favour of AITEO and if AITEO should have any outstanding, this will either be deducted from on-going cash calls due AITEO from AITEO/NNPC Joint Venture or an outright remittance as the case may be.

    “The Board of AITEO has taken the decision to wind down this Duke Oil SWAP and OPA contract promptly and bring its business relationship with Duke Oil to a closure.

    “It should be noted that AITEO’s OPA with NNPC requires a reconciliation meeting to take place between the parties on a quarterly basis for all crude oil loaded and refined products delivered.”

    The statement added that a reconciliation meeting has been scheduled to ascertain what each party has delivered so far.

    “In light of this development, the fully reconciled position should be determined soon.

    “Therefore allegations that AITEO ‘apparently gulped down $150 million’ are not only baseless but aimed to slur the name of the company,” the statement added.

  • R-TAG: Skye Bank’s new deal for customers’ satisfaction

    R-TAG: Skye Bank’s new deal for customers’ satisfaction

    The Customer being king, is an age old mantra that continues to inspire global businesses, and propel shreud  CEOs  and business leaders to re-align their processes to deliver value to the customer. Smarting from its enlarged position since its acquisition of the erstwhile  Mainstreet Bank, Skye Bank looks set to reconfigure its business strategy and product offerings in a bold new customer- centric move labeled, ‘Retail Transformation and Growth,’ writes Emmanuel Udodinma

    For several months and at various fora, Skye Bank has been talking about streamlining operations to play big in the Retail (defined as Consumer and Small and Medium Enterprises) sector, a position made good after its recent acquisition of Mainstreet Bank.

    All doubts and misgivings were however laid to rest last week as the Bank formerly unveiled its Retail Transformation and Growth (R-TAG) strategy to its customers and the general public. The customer-public is without doubt a major stakeholder group, whose consumption pattern is a factor in determining  the success or otherwise of any enterprise.

    With R-TAG, Skye Bank has moved its approach to Retail Banking from a product-led, to a customer-focussed model with a clear identification of four primary focus-segments, namely: mass market, emerging middle class and mass affluent (for Consumer Banking) and SME’s.

    In a release after the launch, the bank explained the rational behind the R-TAG as a move, “designed to revolutionise retail banking business in the country and serve as a game-changing business model with focus on customer segments, using unique value-propositions, rather than the product-led approach commonly adopted by Retail organisations. This is the key to activating the bank’s new retail sales approach which is based on a ‘Pull’ strategy, supported by a positive customer experience across its key service touch points.”

    Just before the formal launch, the Group Managing Director/CEO, Mr. Timothy Oguntayo, said RTAG was conceived because of a desire to meet customers’ needs and that, it was the result of wide consultation.

    He said with R-TAG, the bank’s products are not only streamlined, but they are also  loaded with a lot of benefits because customers deserve a lot from the financial entity.

    He expressed confidence that the program will turn out to become a huge success and would lead others in the Nigerian market space. “We are confident it matches and surpasses competition” he said.

    For the Bank’s Executive Director, South-South, South-East and Retail Banking, Mrs. Ibiye Ekong, said it was the natural route to go. Perhaps alluding to the on-going integration of Mainstreet Bank and Skye Bank and the tie-in with R-TAG, Mrs. Ekong said, “That is not unusual because we have the network. Let us begin to work the network to deliver value to customers and ultimately to the organisation.

    “We have done classification of our branches, moved personnel around and engaged direct agents so that the footprints for retail customers are expanded,” she said.

    On how the bank adopted  the R-TAG strategy, she said: “After that phase, we came up with a transformation agenda that sought to find out from customers what products they would want.

    ‘’We entered into the process of working with experts; with IFC, we worked with some retail experts and other international companies on how to design structures that will deliver value. What you have seen today is the first phase of actualization of that objective.

    “We now have products clearly defined and streamlined. We used to have a long array of products and what you find is that people get confused, delivery becomes a problem; customers do not know how one translates to the other. We have been able to identify the product, clearly demarcated so that, from one level to the other you know what you are getting being a customer of the Bank,’’ Mrs. Ekong said.

    At the project launch in Lagos earlier in the month, Oguntayo, assured that the new business transformation agenda would bring about customised and needs-satisfying financial solutions in a manner that will exceed the expectations of customers.

    He pointed out that the trend in retail banking requires  the service provider knowing the needs of the customer beyond finances,  to include Lifestyle needs and designing appropriate solutions to meet those needs. He assured that Skye Bank is poised to serve as a dependable partner to its customers across the country.

    His words: “Our renewed drive and focus on retail banking is anchored on the premise of building a long-lasting relationship with our customers, based on trust as well as supporting the financial inclusion drive of the Central Bank of Nigeria, so as to bring a lot more people into the financial system and the formal economy.”

    This is the reason, he said the bank has instituted its ‘Reach for the Skye Millionaire Reward’ scheme as a product feature for its flagship savings product, designed to encourage the savings culture amongst the mass market segment.

    He said the current banking environment as well as the acquisition of Mainstreet Bank, which after integration will significantly increase the branch footprint of Skye, signifies a clear competitive advantage for Skye Bank to follow the Retail Banking model.

    In accordance with the CEO’s exposition, the Bank’s Head, Retail Banking Group, Ms. Nkolika Okoli, said, before now, serving the Retail market was based on a product approach but with R-TAG, the new strategy is now reversed with the customer as the main focus.

    “The reason for streamlining our Consumer Banking business into three primary focus areas, is to make it easier for customers to derive value and make it easier for the Bank to serve them.”

    She also said that the Bank is removing barriers to banking by paying savings’ customers the monthly interest due to them irrespective of the number of withdrawals made on their accounts, which is a move in support of the Central Bank of Nigeria’s (CBN) financial inclusion policy.

    In this regard, she said mass market current accounts would attract zero Cost on Transaction (COT) and free debit cards among other values.

    According to her:  “The R-TAG project has helped streamlined the bank’s product portfolio targeted at Individuals and SME customers, via the identification of primary-focus segments, with a maximum of two-products to serve each segment.

    The bank has also pioneered the issuance of free debit cards and cheque books to retail customers, as well as removal of all withdrawal barriers on savings account types as incentives to encourage adoption of financial services by customers of all classes thereby making banking affordable to all, Ms. Okoh stated.

    Skye Bank’s trading results, indicating an upward movement in Pre-tax profit, and the almost 46 percent rise in the bank’s equity price since early January, are clear signs that the investment public is taking cognisance of the bank’s strategic actions and stocking up on the it’s shares, more so now that the bank reresents a bigger, well managed and focussed entity, delivering better results to stakeholders.

  • World Cup ‘ll fetch me deal —Success

    World Cup ‘ll fetch me deal —Success

    Spain-based Flying Eagles striker Isaac Success has said he expects the U20 World Cup in New Zealand to earn him a new offer.

    Success is on loan to CF Granada from Udinese of Italy and has already made his debut for the La Liga outfit this past season.

    He said his performance in New Zealand with the Flying Eagles could well determine his immediate future.

    “I am just a player and the decision is left for Udinese whether to recall me. If they do not need me, I will continue to play in Granada,” he said.

    “I believe if I have a good World Cup, I will definitely get a good offer.

    “This is the World Cup and even kids who know nothing about football will be watching. Players at U20 level are capable of playing in the top leagues across the world, so I am ready to do what I can do.”

    He said he is delighted that Granada will play again in the Spanish top flight after yet another successful battle against relegation.

    “I did not have enough playing time at Granada. But at least I am happy that we are staying up in La Liga and this will give me a second chance to prove myself if I am so opportuned,” he said.

  • ‘Monarchs‘ll get good deal’

    ‘Monarchs‘ll get good deal’

    The governorship candidate of the Social Democratic Party (SDP) in Oyo State, Seyi Makinde, has assured monarchs that he will pay them five per cent statutory allowance from the local government allocation.

    He said, if elected, his administration will conduct local government elections within its first six months.

    The SDP candidate made this promise at the palace of the Sabiganna of Iganna, Oba Saliu Oyemonla Azeez, in Iwajowa Local Government Area.

    Makinde solicited the monarch’s support and prayer for the actualisation of the SDP’s “laudable and life-changing programmes”, stressing that his party “is committed to poverty eradication through job creation and women empowerment”.

    The monarch requested  the multiplication of the campuses of Oke-Ogun Polytechnic, Saki, to engender development in the Oke-Ogun area.

    Former Saki Campus of The Polytechnic, Ibadan, was recently upgraded to a full-fledged institution and renamed Oke-Ogun Polytechnic.

  • Apple, Google reach deal in antitrust case

    Apple, Google reach deal in antitrust case

    Apple Inc. (AAPL) and Google Inc. (GOOGL) have reached a new settlement over claims they and other Silicon Valley companies conspired to avoid hiring one another’s employees, after a judge concluded their first proposal didn’t offer enough money for affected workers.

    The agreement, which terms weren’t disclosed in a court filing yesterday, again hinges on the approval of U.S. District Judge Lucy H. Koh in San Jose, California, who in August, rejected the initial $324.5 million accord as too small.

    Koh said the companies, which also include Adobe Systems Inc. (ADBE) and Intel Corp. (INTC), should pay at least $380 million given “ample evidence” of antitrust violations that might result in damages of more than $9 billion if the case went to trial.

    The companies resumed negotiations with the workers. In September they also appealed Koh ruling, saying she overstepped her authority.

    Kelly Dermody, a lawyer for the workers, and Chuck Mulloy, a spokesman for Santa Clara, California-based Intel, each confirmed the new settlement yesterday, declining to discuss details. Kristin Huguet, a spokeswoman for Cupertino, California-based Apple, declined to comment.

    “We will be filing our papers with the court on Thursday,” Dermody said in an e-mailed statement.

    Employees walk past Google Inc. signage while arriving for work at company headquarters in Mountain View, California, U.S. Close

    Employees walk past Google Inc. signage while arriving for work at company headquarters… Read More

    CloseOpen Photographer: Tony Avelar/Bloomberg Employees walk past Google Inc. signage while arriving for work at company headquarters in Mountain View, California, U.S.

  • Dubai World gets majority creditor backing for $15b debt deal

    Dubai World gets majority creditor backing for $15b debt deal

    State-owned conglomerate Dubai World edged closer to a second major restructuring in four years on Monday after announcing it had reached agreement with a “substantial majority” of creditors to back its $14.6 billion debt deal.

    However, despite having enough backing to effectively prevent challenges to its new deal, a relatively untested court process to impose it will mean formal completion is still months away.

    Dubai’s economy has rebounded strongly from a local property crash which triggered a wave of debt restructurings at state-owned entities at the turn of the decade — most notably Dubai World’s request for a debt standstill on $25 billion of obligations in 2009 that resulted in a global markets sell-off.

    It has been in talks with lenders for months to secure a renegotiation of terms of the debt deal it signed in 2011 which followed the 2009 standstill request, given the size of the $10.3 billion 2018 repayment and the slow pace of asset sales.

    An agreement would alleviate worries over Dubai’s largest debt hangover and may also lift the upcoming results of local banks. A number, including Emirates NBD ENBD.DU, have said they are studying whether to reverse provisions held against their share of the debt.

    On Monday, Dubai World said it had made a “voluntary arrangement notification” under Decree 57 legislation to amend its existing debt deal, the first formal notification from the conglomerate that support from creditors for a new deal had passed the 67 percent mark — the level needed to authorize a change of restructuring terms.

    Decree 57 was brought in by the Dubai government to administer the conglomerate’s previous restructuring in the absence of effective insolvency law in the United Arab Emirates.

    The process will begin with a procedural court hearing on Tuesday, which may set a date for a directional hearing at which Dubai World and its creditors will put their cases before a three-member judicial panel at the court in Dubai’s financial free zone.It will be the biggest test of the legislation. While the tribunal played only a supporting role in the 2011 debt deal, it handled the $2.2 billion restructuring of one of Dubai World’s subsidiaries, Drydocks World, a year later.

    That restructuring process took five months from first court date to final agreement, and a legal source estimated Dubai World’s process would take around six months, depending on the progress of talks with creditors.

    “The renegotiation of an already rescheduled facility is a clear reminder to all of the scale of the challenge facing Dubai World,” said Doug Bitcon, head of fixed income funds at Rasmala Investment Bank.

    He added the restructuring reflected improved fiscal planning from Dubai World, which would hopefully benefit all parties as assets were sold.

    For creditors not yet signed up to the restructuring deal, Decree 57 prevents them from launching court action against Dubai World.

    Decree 57 also allows for Dubai World to impose the new deal on creditors even if they are against it — a technical process known as a cramdown. A clause requiring any ruling to be “fair” and “unprejudicial” to creditors in the eyes of the judges would be the likely basis of any challenge brought by dissenters, the legal source added.

    The new plan involves repaying early an existing $2.92 billion maturity due in September 2015, Dubai World said.

    The company will also extend a 2018 repayment to 2022, with higher pricing, an amortizing structure and more collateral backing the loan, confirming a September Reuters story.

  • Insgroup in $35m premium deal

    Pension’s Minister Steve Webb wants  to extend freedoms announced in the  Budget to give up to five million existing pensioners the chance to trade in their annuities for cash Millions of retired workers would be given the power sell their pensions, under major plans to relax annuity rules being drawn up by ministers.

    Up to five million pensioners would stand to benefit from the proposals, if they would rather have money in their bank accounts than a guaranteed income every year.

    Reforms announced in last year’s Budget will mean working people who retire in future will be able to cash-in their pension savings for a lump sum which they will be free to spend as they wish.

    But an estimated five million pensioners who have already retired will miss out because they are locked into their contracts until they die.

    Steve Webb, the Pensions Minister, told The Telegraph he wanted to change the law to enable these pensioners to sell their annual lifetime incomes known as “annuities” to the highest bidder at any time after they have retired.

    Pensioners may decide they would rather have cash than a guaranteed income stream to give money to children, to pay for home renovations or to invest.

    The plan will be particularly appealing to those who have more than one pension as a result of working for several employers, and who would prefer to have money “up front” than to receive a small amount from a low-value pension each year.

    The reform would also create a new market in “second hand” pensions, as insurance firms and other companies buy up individuals’ annuities, bundle them together and sell them on in bulk.

    Webb said he had been urged by pensioners to introduce the reforms, while several major pensions companies and insurers had also expressed “considerable interest and enthusiasm” for the plan.

    “I want to see people trusted with their own money wherever possible. I have already heard from people around the country who would like to see this change made.

    “I want to see if we can get these freedoms extended to those who are receiving an annuity but who might prefer a cash lump sum. No one would be obliged to do so, but for those who would prefer upfront capital to regular income, I can see no reason why this should not be an option”, he said.

    An estimated 400,000 people who retire each year use the money they have saved while working to buy an annuity, an insurance product which pays an annual income for the rest of their lives.

  • Our new arms deal

    Those who have followed contemporary events in this country will not be surprised at the news that Nigeria struck a deal to buy arms and ammunition from Russia. Under the arrangement, Russia is to supply its MI-35s and MI-17s military jets among other armaments to this country to aid the fight against the Boko Haram insurgency.

    The deal followed Nigeria’s cancellation of the US military training programme for our soldiers and is largely viewed as a response to the curious attitude of that country to the raging insurgency. Though various reasons have been adduced to rationalize Nigeria’s decision to cancel the programme, it is widely believed it has every thing to do with US refusal to sell categories of military aircraft and arms to Nigeria to fight the insurgents.

    Two well respected Nigerians, Gen Yakubu Gowon Retd, a former head of state and Nobel laureate, Wole Soyinka had heavily criticized the US for its refusal to supply the country the little arms it needed to defend its citizens and quell the Boko Haram uprising. But the US had hinged its decision on the nebulous excuse of human rights abuses by the military even when the insurgents are equally no respecter of human rights.

    The two personages could not understand what the argument on human rights is meant to serve when our citizens are faced with the danger of annihilation by the better equipped and more sophisticated insurgents. Moreover, US stand on the issue does not tally with its position on terrorism as is evident in Afghanistan, Syria and Iraq where it is currently battling the ISIS onslaught. It was therefore seen as double standards for the US to turn its eyes against Nigeria in its difficult moment especially when the same country went to war in Iraq under the guise of her possession of nuclear weaponry. Many innocent souls lost their lives in that unfortunate encounter. Today, we know that Iraq possessed no nuclear weapons. But the harm has been done. And no body has been brought to book for that fiasco. More over, recent accounts on the activities of some US security operatives have revealed large scale human rights abuses following events leading to the twin tower bombing. So the issue of human rights abuse may not be stretched too far in such difficult and trying situations.

    Apparently frustrated by the US action in the face of the escalation of the Boko Haram insurgency, Nigeria had to seek help elsewhere. Thus, the arms deal with Russia. With the action, Nigeria seems to have defined a new relationship with Russia.

    Not unexpectedly, the deal has become an issue of intense discussion among defense and security analysts in the US. Discussions have centered on the likely effects of the action on Nigeria/US relations, the divergence in opinions and perception of the two countries on the insurgency and what the new arms deal portends for the rivalry between the US and Russia- a rekindling of the super power competition. The discussants also threw new insights into some other considerations that may have been at the center of the US refusal to aid Nigeria militarily, allegations of human rights abuses notwithstanding.

    A Director of African programme at the Washington-based Center for Strategic and International Studies (CSIS), Jennifer Cooke admitted that there is a great deal of tension between the two countries particularly over the security relationship and that each side has a different perception of the matter.

    Ben Moores, a senior analyst at the defense and security analysis organization HIS Janes’s 360 gave new reasons why US would not want to sell its advanced weapons system to Nigeria. He said advanced military jets and attack helicopters could not be sold to Nigeria for fear they could be passed on to a third party. Moreover, there were “leaks or moles inside the Nigerian military who were leaking information to Boko Haram. They were leaking certain bits of information, training information and perhaps information on the team itself” Moores said.

    For him, what Nigeria needed most was not fighter jets and attack helicopters but a better motivated, a more professional force to deal with some of the social and cultural problems.

    Some of the issues raised make more sense than the trite pontification on human rights even though they are not entirely foolproof. There is no doubt that the US does not have a good reading of the situation on the ground and the general feelings of our people. That much had been given credence by the views of Gowon and Soyinka among several other well-meaning Nigerians.

    The nation is facing destruction by the insurgents and must take every legitimate action to protect its citizens. If all it takes is the deployment of advanced military jets and helicopters so be it.

    It smacks of a poor reading of the situation to hold that we do not have a pressing need for the jets and attack helicopters. On the contrary, we have very urgent need for them to decisively end this war. Whereas it can be admitted that we need a more motivated and professional force, it is wrong to ascribe the current Boko Haram insurgency to social and cultural issues. Boko Haram is similar in motivation and ideological leaning to ISIS which the US has been battling with very sophisticated military jets and hardware in Syria and Iraq.

    The issue of moles and leaks in the military is real. With some unscrupulous military persons leaking information to Boko Haram, any foreign partner seeking to help is bound to be frightened as the security of its personnel and equipment is not guaranteed. These weaknesses can be admitted. On several occasions, our soldiers have been waylaid by the insurgents due to information leaks on their movements. In one of such instances, the soldiers went wild firing shots at their commander after they suffered heavy casualty from Boko Haram ambush.

    Such incidences do not imbue confidence in the outside world that we are all committed and united in the fight against insurgency. More than anything, they underscore the point more forcefully that there are sections in the military and political class that lend huge support to the insurgents. This may have contributed in obfuscating US perception of the matter.

    But then, there is a legitimate government in place and there are standard practices on how to deal with a band of anarchists seeking to levy war on such governments. Whatever the motivation- religious, cultural or social Boko Haram has become a mortal threat to the corporate existence and survival of this country. And the government ought to be given the needed help to tame the monster. Inventing sundry reasons and excuses to deny Nigeria the arms and ammunitions to quell the insurgency is a clear invitation to anarchy.

    More seriously, the position Nigeria has found itself is self-inflicted. It is a huge shame that 54 years after independence, we are still cap in hand begging for arms and ammunitions from foreign countries. We fought a civil war here and certain military competences were developed then. We are also not lacking in human and financial capacities. Instead of seizing and activating the ingenuity of the civil war era to catalyze technological transformation, we allowed that opportunity to slip. The same forces and contradictions that gave rise to the civil war are at play again in the Boko Haram project.

  • Questions Oritsejafor must answer on botched arms deal

    Reacting to Rev. Chris Okotie’s article on the cash-for-arms deal, which resulted in a diplomatic row between Nigeria and South Africa, an official of the Christian Association of Nigeria (CAN) and some government apologists have been trying to make a case for Pastor Ayo Oritsejafor’s innocence over his personal aircraft’s involvement in the botched $9.3 million deal. So, those who have issues with his connections and the arguments being advanced on his behalf by CAN and government are being cautious in the face of possible emergence of incriminating evidence against the clergyman.

    Suspicion of his involvement in the scandal is further reinforced by the refusal of many Nigerians to believe government, his primary defender. After Rev. Okotie and many other critics condemned Pastor Oritsejafor’s action, it is not hard to fathom why the scrawny excuses being peddled to exculpate the pastor don’t seem to hold water. Uneasy, they say, lies the head that wears the crown. The CAN president must realize this fact instead of passing insults on Rev. Okotie over his comments.

    How come the staff of the Ministry of Finance, the Central Bank of Nigeria (CBN) and other departments of government usually involved in international financial transactions did not ‘remember’ that the authorities in South Africa had to be officially informed?

    Were the necessary forms and documents not filled to cover this transaction? Were these departments not carried along to ensure proper documentation and transparency?

    And if it was contracted out as a private business, why was it government’s duty to charter the plane? Why does government need to assist a private contractor in carrying out his business? Why the secrecy about the identity of the two Nigerians who were on the flight? Has the EFCC or ICPC waded into the issues? More questions than answers.

    The law allows the different forces to procure their arms by themselves. But if the office of the National Security Adviser, which is believed to have signed the contract for the purchase, is directly involved in the deal, then proper security checks must have been carried out on the ownership and safety details of the aircraft. This means the name of Oritsejafor might have come up and they found in him a willing ally, because the aircraft would not have been used if it belonged to a member of the opposition or someone who was not in the President’s good books.

    Would the government have played this kind of game in the United States or the United Kingdom; funneling undeclared funds into other countries to purchase arms in the black market on the excuse that they forgot to notify the authorities? Not very likely. Those countries would definitely not just sweep things under the carpet. All these added to the suspicion.

    There were two aircrafts involved in the deal. One of them belonged to Pastor Oritsejafor while the second was registered by Felix Idiga, who owns Jafac Aviation Limited, the operator of the former’s aircraft. In all this, Felix Idiga, his aircraft and Jafac have barely received a mention. But what is the link between Jonathan, Oritsejafor and Idiga?

    In Nigeria, being this close to the President is tantamount to being in government itself. One thing is sure: government will never proffer details which will make it possible for a honest and independent assessment of the facts involved, and the aircraft operators themselves cannot defend themselves against a field of intelligent questions, for fear of giving away too much incriminating information. The FOI Bill is just what we need here.

    People the world over naturally raise questions about the connections between events and personages. Remember General Buhari, the 28 suitcases and the Umaru Dikko kidnap saga, as well as the IBB government and Dele Giwa’s murder. Public perception of relationships between the foregoing personages and events is in spite of absence of any concrete evidence. Given past knowledge with governments and their comfortable dance with political chicanery, it is hard to believe that the coincidences will not fuel suspicion.

    This is a case of the burden of proof against the shadow of doubt, which does not help in mitigating the force of the suspicion, and making the case for Oritsejafor’s innocence a hard sell. Conventional wisdom stands against this PR spin. Worse still, to have answered Rev. Okotie with his domestic issues, which is common to us mortals, is the height of mischief.

    Pastor Oritsejafor’s calm mien in the face of the storm is not evidence of innocence. No one in his ‘defence team’ has been able to repudiate the allegations and questions postulated from various quarters with even the simplest of logical answers. He should be man enough to come out clean. Too many fingers are pointing at him.

    This sordid affair is the fruit of President Jonathan and Pastor Oritsejafor’s symbiotic and civil, political partnership: Two people who are well aware that they are exploiting each other’s office which offers them a platform for their personal and mutual benefits. Why didn’t Pastor Oritsejafor play buddies with Presidents Olusegun Obasanjo or Umaru Musa Yar-Adua if his intention is to use his ‘good’ Christian position to help the efforts of the President?

    Who says the ruling cabal is not using the hoopla as a bargaining chip to douse the Christian political awakening by bringing their leadership into disrepute? This is politics. These questions arising in different quarters have left this scar open to political infections, so Pastor Oritsejafor cannot simply discountenance the valid worries of the Christian community, no matter how unimportant they seem to him. No true leader will do that.

    Politics is an art of persuasion and Pastor Oritsejafor lacks the requisite skills to tango in the political minefield. He will find out that politicians are duplicitous back-stabbers, and he may yet get his fingers burnt. When you dine with the devil, you use a long fork. This adage has some element of truth in it. The failure to heed this advice is why Pastor Oritsejafor is embroiled in the present integrity conundrum that he finds himself. And the conundrum is thick. This is why I agree with Rev. Okotie that he should quit the CAN job.

    • Adedotun wrote in from Osogbo, Osun State
  • Boko Haram to free 219 Chibok girls in swap deal

    Boko Haram to free 219 Chibok girls in swap deal

    Govt to release 18 key sect members

    DHQ probes report on Shekau’s condition

    After much persuasion, Boko Haram has agreed to release the abducted 219 Chibok girls if the Federal Government will simultaneously set free its 18 key commanders.

    The two parties have asked their representatives to go back to their leaders on the new swap deal proposal.

    Prior to the latest agreement at the talks in Abuja, which was witnessed by some officials of the International Committee of the Red Cross(ICRC), Boko Haram had insisted on a piecemeal release of the girls, with priority given to 30 married Christians among them.

    The Federal Government also offered to release six of the 18 sect leaders in detention.

    The two sides maintained a parallel stand until they met again in Abuja at a session facilitated by the President, Civil Rights Congress (CRC),  Comrade Shehu Sani.

    The sect said if the government attempted to secure the girls by force, it might lead to fatalities.

    At the meeting, Boko Haram also maintained that it had the capacity to “engage the Federal Government for 45 years”.

    It said the outcome of the talks would determine the end of the insurgency.

    Some of those at the talks gave insights into the new dimension to the moves to free the Chibok girls, who were abducted from their hostel on April 15.

    It was gathered that the session was attended by ICRC officials.

    One of those who attended  said: “The sect shifted its position and agreed to release all the girls instead of 30 Christian married girls it had promised. But Boko Haram said it does not trust the government going by previous experience.

    “If the government had respected previous talks, the Chibok girls were initially meant to be off the hook during the Eid-el Fitr festival. Again about two weeks ago, a delegation was already in Maiduguri until the swap deal was bungled.

    “Some security agents only advised on the release of six out of the 18 leaders of the sect. They rated the rest 12 as dangerous.

    “When the insurgents found out, they backtracked and demanded the release of the 18 leaders. The development paved the way for the latest talks in Abuja which involved the ICRC.”

    “By the new arrangement, ICRC will pick up the girls and simultaneously hand over the detained 18 leaders to Boko Haram.

    “The government also said it would not free the detained leaders of Boko Haram until all the girls were released.

    Asked what was eventually agreed upon, another source at the session said: “We generally agreed that all the parties should go back to their leaders on the agreement reached. The government said no to piecemeal release of the girls and Boko Haram claimed that it will not have any business with the government until all the 18 leaders of the sect are freed.

    “After the Eid-el-Kabir festival, the two parties will meet again on the terms to finalise the agreement or part ways.

    “Before the meeting rose, Boko Haram representatives warned against the use of force to liberate the girls. It also made it clear that it had the “capacity to take on the Federal Government for the next 45 years.”

    Responding to a question on whether the sect will end the insurgency or not, another source said: “The delegation from Boko Haram said the outcome of the latest round of talks will determine whether they should ceasefire or not.”