The Nation Newspaper

Tag: Nigerian Newspapers

  • Nigeria launches battle against $9.6b UK verdict

    LOCAL and foreign collaborators are behind the controversial $9.6 billion (N3.5 trillion) judgment debt against Nigeria, the Federal Government said on Tuesday.

    A British Court on August 16, awarded the judgment authorizing a firm, Process and Industrial Developments Ltd. (P&ID) to seize Nigerian assets anywhere in the world to the value of $9.6 billion for contract default.

    The firm entered into an oil  deal with the Ministry of Petroleum Resources in 2010, during the administration of the late President Umar Musa Yar’Adua.

    The government described the contract as a product of “criminal and fraudulent conspiracies, right from inception”.

    President Muhammadu Buhari has ordered the Economic and Financial Crimes Commission (EFCC), the National Intelligence Agency (NIA) and the Police to probe the criminal conspiracy behind the failed contract.

    The government said the contractor, P&ID, did not execute the job it claimed and the contract signed “in an underhand manner”.

    The Federal Government has invoked  all its powers to resist the enforcement of the judgment including obtaining a stay of execution.

    It insisted that the $9.6 billion damages, which is one fifth of the country’s foreign reserve, if implemented, is capable of impoverishing the country and “inflicting grave economic injury on Nigeria and its people”.

    Three ministers – Alhaji Lai Mohammed (Information), Hajia Zainab Ahmed (Finance and Economic Planning), Attorney General/Justice Minister Abubakar Malami and Central Bank of Nigeria  Governor Godwin Emefiele, on Tuesday jointly spoke to reporters on the controversial judgment.

    The finance minister described the damages awarded against Nigeria as “excessive and exorbitant”.

    According to Hajia Ahmed, an award of $9.6 billion is equivalent to N3.5 trillion which is our annual budget.

    She added: “This award is unreasonable, excessive and exorbitant. It is also unfair and it is an assault on each and every Nigerian. It is beyond trying to compensate for a commercial interest.

    “For us in the Ministry of Finance, Budget and National Planning, we take comfort from the efforts that so far had been put in place by the Attorney-General of the Federation and Minister of Justice to ensure that this judgment is set aside because the consequences will be unpleasant for each and every Nigerian.

    “And I hope our brothers and sisters in the press will help fight the cause of our country. We will be doing that not just for this administration but for our children and children. So it is time for us all to be up in arms to make sure that we are not unfairly treated as a people.”

    Mohammed said: “We want to place on record that the Federal Government views with serious concerns the underhanded manner in which the contract was negotiated and signed.

    “Indications are that the whole process was carried out by some vested interests in the past administration, which apparently colluded with their local and international conspirators to inflict grave economic injury on Nigeria and its people.

    “With the contract having suffered a setback, the case went to arbitration. P&ID’s claim in the arbitration proceedings was mainly for the loss of profit for the 20-year term of the GSPA. In an interim award, the Arbitration Tribunal ruled that Nigeria has breached the contract. Though Nigeria successfully applied to have that award set aside by the Federal High Court in Lagos, the Tribunal ignored this decision.

    “Consequently, on 31 January 2017, the Tribunal rendered its final award against the Ministry of Petroleum Resources in the sum of $6.597billion  together with pre-award interest at the rate of 7% per annum, effective from 20 March 2013 and post-award interest at the same rate from the date of the award. This interest increased the size of the award to US$9.6billion.”

    Read Also: U.S. blames Fed Govt for changes in visa fees

    The Minister said the Federal Government had made attempts since 2017 to resolve the issue amicably with P&ID.

    He also said the government engaged the services of the US law firm of Curtis, Mallet-Prevost, Colt & Mosle LLP to defend similar proceedings in the US District Court of Columbia.

    “After the arbitration award in 2017, Nigeria made several attempts to negotiate the award and resolve the whole issue amicably with P&ID but to no avail, which eventually led to the enforcement proceedings instituted, simultaneously, by the company in the UK and the US.

    “The Federal Government then engaged the services of the US law firm of Curtis, Mallet-Prevost, Colt & Mosle LLP, which took steps to defend the proceedings in the US District Court of Columbia to dismiss P&ID’s application for the enforcement of the award on the grounds that Nigeria, as a sovereign state, has an absolute right to obtain an authoritative determination of its sovereign immunity.

    “While Nigeria has recorded some successes in the ongoing case in the U.S., the Federal Government will ensure that its interest and that of the people of Nigeria are vigorously defended.”

    Mohammed said it decided to challenge the award after receiving an expert report which rated the damages as “excessive and exorbitant.”

    He added: “It is worth mentioning that in challenging the award, the Federal Government relied upon an expert report analyzing the damages given to the P&ID. The expert concluded that the damages:

    • were clearly unreasonable and manifestly excessive and exorbitant;
    • went far beyond any legitimate protection of the commercial interest of the P&ID;
    • were completely wrong and obviously unjustifiable;
    • and that the damages overcompensated P&ID on a frankly gargantuan scale and imposed a punitive award on Nigeria.

    “It was on this ground and others that the Federal Government took all available steps to resist enforcement before the court of the United Kingdom (UK). Unfortunately, the UK Court has recognized the award and given the company the authorization to seize Nigeria’s assets.

    The information minister said the government had discovered that the contract was negotiated and signed in an underhanded manner.

    “In the first instance, the enforcement of the award cannot even commence now because the Judge in the UK court ordered that the P&ID cannot enforce the judgment against Nigeria until after the court resumes from its current vacation.

    “What this means is that enforcement action cannot begin until further hearing on the matter, which will take place on a date to be determined by the court upon its resumption.

    “The Federal Government therefore wishes to use this opportunity to assure Nigerians that there is no immediate threat to Nigeria’s assets as has been wrongly interpreted by a section of the media.”

    The Minister confirmed that the Federal Government will file an appeal against the judgment of the UK court, including seeking a stay of execution.

    He said: “Nigerians should be assured that the Federal Government is taking  all necessary steps to appeal the decision of the UK Court, to seek for a Stay of Execution of the decision, to defend its rights and to protect the assets of the people of the Federal Republic of Nigeria.

    “Nigerians should please be assured that the Federal Government will strongly avail itself of all defences customarily afforded to sovereign states under the United Kingdom Sovereign Immunity Act to stave off any enforcement of the award.

    Malami said: “The Criminal investigation relating thereto, has indeed become necessary in view of the certain antecedent relating to the contract in its own right and the eventual award.

    “Insinuations abound that the contract was originally designed to fail fundamentally against the background of the fact that there were inherent element of hitches that were designed into it right from conception.

    “When I talk of inherent element of hitches, I want to draw attention first to the fact that by the composition of the parties to the agreement there were two parties – the P&ID which is the company and the Federal Ministry of Petroleum Resources.

    “As you rightly know very well, Federal Ministry of Petroleum Resources is not a producer of gas. Gas products are produced by IOCs (International Oil Companies), Nigerian National Petroleum Corporation (NNPC).

    “So when you conceived, signed and executed a contract for the supply of gas products without involving IOCs, NPDC, and NNPC as a party to that agreement, you know very well that there are a lot of questions to answer arising from the execution of that agreement.

    “These among others gave rise to the insinuations or perhaps certain criminal and fraudulent conspiracies right from conception of the agreement.

  • Bello trying to manipulate delegate list, aspirants allege

    Some of the aspirants for Thursday’s governorship primary of the All Progressives Congress (APC) in Kogi state have accused the state governor, Yahaha Bello of trying to manipulate the list of delegates for the primary election.

    Sources close to some of the aspirants told The Nation that they have information that the governor was working with some unnamed officials at the national Secretariat to alter the delegates list because of fears that some of them may not vote for him.

    According to the APC electoral guidelines for the conduct of indirect primaries, only officials of the party from the ward, local government and state constitute delegates for the primary election scheduled to hold in Lokoja on Thursday.

    Aside the party officials who constitute delegates, there are also statutory delegates made up of members of the state and National Assembly as well as national officials from the state.

    The source showed The Nation a document they obtained from INEC which was supposedly transmitted to the commission on July 24, containing names of the delegates for the primary.

    Read Also: Bello warns against attack on Fed Govt.

    The source said “Bello is afraid that more aspirants have been cleared to contest against him. He is no longer comfortable and so he is doing everything he can to manipulate the list of delegates and import names into the list.

    “He was the one produced these officials from the ward to the state level down to the ward. But, right now, he is not comfortable with them and is afraid that they will vote against him because he abandoned them since they came into office.

    “He fought to have indirect primary approved for him by the party and also fought to get other aspirants disqualified. Now that more people have been cleared, he is not comfortable with the entire process and because he is desperate to come back, he is working with some officials at the national Secretariat to manipulate the list

    “Last week, he invited the ward and local government officials to Lokoja and was abusing some of them. He is no longer comfortable with the party officials as well as the indirect primary he canvassed for.”

    The source ask the national leadership of the party to allow a level playing ground for all aspirants band allowed the people of the state to nominate a person of their choice as the party flag bearer.

    There are 239 wards within the 21 local government areas of Kogi state and executive members of the parry in these wards and local government and state officials are delegates to the primary

     

  • Pastor ‘stabs’ mum to death

    A 30-year-old man on Tuesday allegedly stabbed his mother,

    Mrs. Grace Anaka, to death at Ifite Oraifite in Ekwusigo Local Government Area of Anambra State.

    The suspect, Nwabueze Anaka, said to be a pastor in one of the new generation churches in the area, allegedly committed the crime at the family compound in the early hours of Tuesday.

    Read Also: Man stabs mum to death in Mushin

    The Nation gathered that the suspect took to his heels immediately he allegedly killed his mother.

    The reason for the dastardly act could not be ascertained last night.

    Confirming the incident, police spokesman Haruna Mohammed said the deceased was stabbed with a dagger.

    He said the case was being investigated, while efforts were on to arrest the fleeing suspect.

  • NEMA receives 153 Nigerian returnees from Libya

    The National Emergency Management Agency (NEMA) has received another batch of 153 stranded Nigerians from Libya.

    The Director-General of NEMA, Mr Mustapha Maihajja, represented by Mr Slaku Lugard, an official of the agency, received the returnees on Wednesday in Lagos.

    Maihajja said that the Nigerians arrived in the Cargo Wing of the Murtala Muhammed International Airport, Lagos, at about 3:45a.m.

    According to him, the returnees are brought via Al Buraq Air Boeing 737 aircraft with flight number UZ 189 and registration number 5A-DMG.

    He said that the Nigerians were brought by the International Organisation for Migration (IOM) and European Union on the platform of the Assisted Voluntary Returnees (AVR) Programme.

    Read Also: NEMA receives 171 Nigerians from Libya

    He also said that the returnees comprised 59 female adults, four female children and seven female infants as well as 78 adult males, three male children and two male infants.

    News Agency of Nigeria (NAN) reports that other agencies which received the returnees included the Nigeria Immigration Service and the National Agency for the Prohibition of Trafficking in Persons.

    Others were the Federal Airports Authority of Nigeria (FAAN) and the Edo Task Force on Anti-Trafficking.

    In July 2018, NEMA announced that it received a batch of 160 Assisted Voluntary Returnees from Libya who were stranded in failed attempts to reach different European countries

     

  • Government must be proactive on e-governance for efficiency – Alasoadura

    Minister of State for Labour and Employment, Senator Omotayo Alasoadura has said that government must take proactive measure to ensure that it was not left behind in the use of technology in governance purposes as e-governance has become essential for public sector productivity and efficiency.

    Speaking while declaring open the “Nigeria Public Sector Productivity and Innovation Summit”, in Abuja, the Minister said Government has made progress in providing essential and social services to the people, using electronic and digital tools and processes.

    According to him, the use of e-governance “has made public service delivery far more effective and efficient, and thereby pumping out remarkable Public Sector productivity.

    “Deploying such technologies that meet today’s needs and anticipates the future, has brought government closer to the people, especially those who equally have proficiency in the use of information and communication technology”.

    He said government needed to be proactive in adopting new technologies to enable it deliver effectively its monitoring, regulatory and oversight responsibilities over the private sector.

    In his words, “It would be unimaginable for government to regulate banks and other businesses with technology-oriented business models if government lacked the necessary technology scope”.

    He said that although most of the development in technology “are focused on the private sector, the public sector should not be left behind”, as the government has the responsibility of developing and implementing rule-based policies for the private sector to thrive.

    Read Also: ‘APC government has done well in Southeast’

    He stressed that the essence of the summit is to highlight how these enabling technologies are transforming government productivity and creating the market for new skills, knowledge and jobs in a complementary way, through which government institutions have been able to do more with less while delivering greater output with desirable speed and precision”.

    Director-General, National Productivity Centre (NPC), Dr Kashim Akor, said that e-Governance had contributed immensely to public sector productivity in Nigeria.

    Akor said Government has been driving productivity, efficiency and transparency using such e-Government deliverables as Treasury Single Account driven by Remita, and Bank Verification Number (BVN), among others.

    He stressed that conducting government business online has remarkably cut cost, time and logistics for all stakeholders, adding that the Summit is expected to highlight the relationship between e-Government and Productivity in Nigeria.

  • Diogu, Aminu, Okogie, Jordan top D’Tigers World Cup list

    Twelve players who will represent Nigeria at the 2019 FIBA Men’s World Cup have been released. The D’Tigers head coach, Alex Nwora made the final list known after their Peak Invitational Tournament victory against Poland and Montenegro.

    Nwora listed Ike Diogu, a regular throughout the qualifying series alongside Ike Iroegbu, Benjamin Uzoh, Al Farouk Aminu, Zanna Talib and Stanley Okoye.

    After a series of impressive performances in the friendlies, Stockton Kings, Vincent Nnamdi booked a spot in the team alongside new kids on the block, Chimezie Metu, Jordan Nwora and Joshua Okogie.

    2016/2017 Euro League championship winner and Euro League Final Four MVP, Ekpe Udoh will also be inline to make his debut for D’Tigers alongside Michael Eric Nwora said the decision to drop Alade Aminu, Ike Nwamu and Deji Akindele who played major roles in the WC qualifiers was not an easy one.

    “It was very hard pruning the team from 15 to 12 as required by FIBA. If I had my way, we would have registered all the 15 players for the World Cup because all these players have unique qualities that they bring to the team.”

    Nwora who guided Nigeria to become the first country to qualify for the World Cup, said expectations are high for the team to perform which has continued to motivate the entire team to go a step further.

    “These are the best players we have at our disposal right now. We are very aware of expectations back home.

    Recently, Nigeria currently ranked 33rd in the world defeated Dominican Republic (18th), Canada (23rd),

    Poland (25th) and Montenegro (28th) as part of their preparations for the 2019 FIBA World Cup.

    Nigeria grouped alongside Argentina and Korea will start their world cup campaign against Russia on Saturday in the Chinese city of Wuhan.

     

    FINAL LIST:

    Point Guards:

    Uzoh Benjamin Chukwukelo (CB Caballeros de Culican)

    Ireogbu Ike (Science City Jena, Germany)

    Shooting Guards:

    Okogie Joshua Aloiye (Minnesota Timberwolves, NBA)

    Nwora Jordan Ifeanyi (University of Louisville, USA)

    Vincent Nnamdi Gabriel (Stockton Kings, NBA)

    Small Forwards:

    Aminu Al Farouq (Orlando Magic, NBA)

    Stanley Okoye (Tecnyconta Zaragoza, Spain)

    Power Forward:

    Diogu Ikechukwu Somto (Bayaman Vaqueros, Puerto Rico) Zanna Talib (Montakit Fuenlabrada, Spain) Ekpe Udoh (Utah Jazz, NBA) Chimezie Metu (San Antonio Spurs, NBA)

    Centre:

    Michael Eric (Darussafaka, Turkey)

  • Flying Eagles to battle for gold

    NIGERIA’S U20 boys, Flying Eagles, will battle for the gold medal of the 12th African Games in Rabat, Morocco after eliminating Mali via penalty shoot-out in the semi-finals on Tuesday.

    Both teams failed to find the target in regulation and extra time, with Nigerian captain Abubakar Ibrahim inexplicably failing to convert a penalty kick in the 23rd minute. Penalty shoot-out again came to the rescue as happened when both battled to a 1-1 draw in the semi-finals of the Africa U20 Cup of Nations in the Niger Republic back in February.

    In Niamey, Mali triumphed 4-3 after the shoot-out. But the session in Rabat on Tuesday proved comical, with the Flying Eagles showing inefficiency from the spot by throwing away their first three kicks even as goalkeeper Detan Ogundare kept saving the Malian kicks. Mike Zaruma, Rabiu Mohammed and Emeka Chinonso wasted their kicks.

    Skipper Abubakar Ibrahim and Success Makanjuola scored the fourth and fifth kicks, just as the Malians did, to take the shoot-out into sudden death.

    Read Also: Flying Eagles kick off 2019 African Games

    In sudden death, Samuel Nnochiri and Adesina Gata scored just as their Malian opposite numbers. But after Adewale Oladoye scored, Mali’s next kick was saved by the inspired Ogundare to take Nigeria to Friday’s final.

    The Flying Eagles will be up against the winner of the second semi-final between Senegal and Burkina Faso. It is the first time that Nigeria will reach the final of the men’s football tournament of the African Games since losing the gold medal match to Cameroun inside the National Stadium Complex, Abuja in 2003.

    Nigeria won the gold medal of the football event (no women edition then) of the 2nd African Games hosted in Lagos in 1973 and then lost in the final to host nation Algeria in 1978.

     

  • Nigeria win six gold medals in weightlifting

    TEAM Nigeria has won six gold medals in weightlifting and three silver at the ongoing African Games in Morocco.

    The weightlifting event was held at the Nahda Arena in Salle Nahda.

    A former national junior lifter, Emmanuel Appah, won three gold medals in the men’s 61kg, having lifted a total of 271kg, with 120kg in the snatch. He also lifted 151kg in Clean and Jerk.

    Adijat Olarinoye also won two gold and one silver in the women’s -55kg, while former national champion, Chika Amalaho won 1 gold and 2 silver medals in the women’s -55kg.

    Read Also: Falconets break African Games ‘final jinx

    It was all Team Nigeria in the final of table tennis women’s double with Cecilia Akpan and Edem Offiong defeating Funke Oshonaike and Fatima Bello 3-2 (7-11, 6-11, 11-7, 11-2, 13-11).

    In track and field, Grace Anigbata claimed the gold medal in the women’s Triple Jump with 13.75m jump, while Dotun Ogundeji clinched silver medal with his last throw in the men’s Discus event.

    Nigerian gymnasts won the bronze medal in the women’s team Artistic event at the Ibn Rochd Centre.

    Nigeria currently has 12 gold, 11 silver and 12 bronze medals at the Games.

     

  • Ogun Assembly passes security trust fund bill

    The Ogun House of Assembly has passed the state’s Security Trust Fund (Amendment) Bill.

    This followed the adoption of the report of the House Committee on Special Duties at plenary in Abeokuta.

    Presenting the report, Mr. Adeniran Ademola (APC – Sagamu 11), the chairman of the committee, said a lot of work was done to compile the report.

    Ademola, thereafter, moved the motion that the report be adopted and this was seconded by Wahab Haruna (APC – Yewa North 11).

    Read Also: Ogun Assembly urges ex-local govt chairs to submit reports

    Abdulbashir Oladunjoye (APC -Sagamu 1), the Deputy Majority Leader, moved the motion for the third reading of the bill and was seconded by Ademuyiwa Adeyemi (APC -Abeokuta South II).

    The lawmakers had on August 22 deliberated on the bill when it scaled second reading.

    They explained that the trust fund law when operational would help strengthen security operations by boosting the existing security trust fund to promote efficiency in security management.

    Also during plenary, the House passed the state’s Road Management Agency (Amendment) bill.

    Mr. Deji Adeyemo, the Acting Clerk, read the bills for the third time.

    The Speaker, Olakunle Oluomo, thereafter , directed that clean copies of the bills be forwarded to Governor Dapo Abiodun for his assent.

  • UACN, Imperial Logistics seal $40m shares acquisition deal

    NIGERIA’s oldest surviving and largest conglomerate, UAC of Nigeria (UACN) Plc and South African leading logistics provider, Imperial Logistics Limited have entered into a share acquisition agreement that will see Imperial Logistics acquiring the controlling equity stake in MDS Logistics Limited, a subsidiary of UACN.

    Under the agreement, Imperial Logistics will acquire additional 8.0 per cent shareholding in MDS Logistics from UACN to increase Imperial Logistics’ equity stake from 49 per cent to 57 per cent. The transaction valued MDS at $40 million, about N12.24 billion.

    In consideration for the additional 8.0 per cent equity stake, Imperial Logistics will transfer selected profitable contracts to MDS and pay $2.4 million in cash. The transaction is however still subject to relevant regulatory approvals.

    MDS is Nigeria’s leading integrated logistics services provider. Through its network of warehousing and distributions assets, MDS links manufacturers with customers in more than 400 cities and villages across Nigeria. MDS is a critical supply chain and distribution partner to some of Nigeria’s leading corporates.

    Imperial Logistics is mainly an African and Eurozone logistics provider of outsourced, integrated freight management, contract logistics and distributorship – customised to ensure the relevance and competitiveness of its clients. The group is listed on the Johannesburg Stock Exchange in South Africa and employs over 25,000 people in 32 countries.

    Read Also: UACN lists 960.4m rights shares

    In a regulatory filing just submitted at the Nigerian Stock Exchange (NSE), Group Managing Director, UAC of Nigeria (UACN) Plc, Mr. Fola Aiyesimoju described the transaction as an important milestone for the conglomerate noting that the deal was in line with the group’s strategy of working closely with partners in empowering best-in-class management teams.

    According to him, since the commencement of the partnership in 2013, the group has been impressed by Imperial Logistics’ operational excellence in warehousing, distribution and transport.

    “We look forward to greater integration between MDS and the broader Imperial Logistics platform as we strive to deliver value to clients,” Aiyesimoju said.

    Managing Director, MDS Logistics Limited, Taiwo Ajibola, said MDS will remain focused on leveraging its assets, technology and capabilities to deliver value to its clients.

    “We will continue to benefit from the strengths of our shareholders, Imperial Logistics and UACN,” Ajibola said.

    Chief Executive, African Regions, Imperial Logistics Limited, Johan Truter said working with strong partners is at the core of Imperial Logistics’ strategy as it seeks to expand its businesses across Africa.

    “We consider Nigeria to be a strategically important market and are excited to continue our partnership with UAC to grow MDS and expand its service offering to clients,” Truter said.