Tag: policy

  • Policy issues affecting businesses, says LCCI

    Policy issues affecting businesses, says LCCI

    President, Lagos Chamber of Commerce and Industry (LCCI) Alhaji Remi Bello said prevailing macro-economic issues, triggered by the slump in global oil prices, have created challenges for the public and private sectors.

    He observed that the pressure on production and operating costs and weak consumer demand were already taking their toll on many businesses with investors’ confidence affected.

    Bello advised government and its agencies to avoid actions that would further complicate matters for investors.

    The LCCI boss, in a statement, said chamber was compelled to draw attention to some policy and institutional actions that could negate the current efforts to stabilise the economy and preserve jobs.

    Some of the challenges, he mentioned, were deliberate and arbitrary revision of the value of cargoes by the Nigeria Customs Service (NCS), driven by the quest to generate more revenue in line with new target.

    He said: “We do not believe that this is the best way to improve revenue generation by the NCS.  There should be a credible ground to dispute the value of invoice on imports. Most of the prices are global prices and are easily verifiable.

    “But in many of the instances, the actions of the NCS have no bearing with these global prices. Regrettably, there is no dependable dispute resolution mechanism in place.

    “Invoice values have been arbitrarily hiked by between 50 to 100 per cent.  Many importers, including reputable companies, have suffered from this arbitrary revision in value.

    “The result is that investors are compelled to pay higher duties and other charges without any justifiable reason.”

    He called on the Federal Government to address the issue and to urgently set up an independent dispute resolution mechanism to resolve valuation disputes within three days because of demurrage implications.

    He also called attention to the exclusion of certain transactions from the Retail Dutch Auction System (RDAS) window.

  • Wanted: A revised extradition policy

    Wanted: A revised extradition policy

    Is Nigeria too eager to extradite its citizens accused of crime? Yes, say some lawyers who have advocated a review of the country’s extradition policy, writes ERIC IKHILAE from Abuja.

    In recent time, the rate at which the Federal Government,through the office of the Attorney General of the Federation (AGF), Mohammed Adoke (SAN) approaches the court for permission to extradite its citizens abroad for trial is becoming alarming.

    The zeal often displayed by state officials, in arguing such extradition applications in court, always gives the impression that the Nigerian government enjoys shipping abroad, its citizens, accused of involvement in criminal activities.

    Even for offences that could be adequately prosecuted by Nigerian courts, the Federal Government is always too eager to extradite Nigerians abroad for trial.

    The government cannot be totally faulted, in view of the fact that most of such extradition requests are hinged on existing mutual agreements/treaties between Nigeria and such foreign countries.

    The government’s seeming willingness to honour every extradition request is however worrisome, when viewed in the light of the fact that most foreign countries, particularly the United States, hardly allow their citizens to be tried in foreign territories.

    While most of these foreign governments hinge their decisions on the need to protect their national interests and those of their citizens, it seems such considerations never count in the case of Nigeria, where state officials even attempt to extradite Nigerians to countries with which the country has no extradition treaties.

    One of such cases was that involving Kingsley Edegbe.  The Federal Government had, upon a request by the Kingdom of Netherlands, applied to the Federal High Court, Abuja for an order extraditing Edegbe to Netherlands for trial over his alleged involvement in human trafficking.

    Edegbe was said to have allegedly belonged to an international syndicate involved in the trafficking of Nigerian girls to the Netherlands for prostitution and other related acts. He was said to be particularly wanted in connection with the trafficking of about six Nigerian girls, aged 25 from Nigeria to the Netherlands between 2006 and 2007.

    The documents filed along with the extradition application showed that, if successfully extradited, Edegbe would face charges bordering on human trafficking, human smuggling, falsification of travel documents, forgery of travel documents, abduction of minors from the authority having legal custody over them and participating in a criminal organization.

    The alleged offences were said to be punishable by deprivation of liberty of more than one year and covered by Articles 3, 5 and 16 of the United Nations Convention Against Transnational Organised Crime (TOC Convention), which Nigeria signed and ratified with its protocol on December 9 and 14 2004.

    But for Justice Ahmed Mohammed’s refusal to grant the order of extradition, Edegbe would have been shipped to a foreign land for trial, even when he allegedly trafficked Nigerian girls, an offence that the Nigerian courts could effectively prosecute.

    Justice Mohammed held, in his judgment, that the Federal Government failed to show that an extradition treaty existed between the country and Netherland on which such order of extradition could be based.

    “The court has not been shown any extradition treaty between Nigeria and the Netherlands upon which the application sought could have been granted.  The reliance on the United Nation’s Convention against Transnational Organised Crime fails because it is not an extradition treaty Act as envisaged by section 1 of the Extradition Act of Nigeria.

    “This court is not prepared to hold that an extradition treaty exits between the Netherlands and Nigeria when there is none. It is a dangerous precedent to abandon an existing law to enable the extradition of the suspect,” the judge said.

    Even when a the country sought the extradition from Sudan, of a Nigerian, Aminu Sadiq Ogwuche, the alleged mastermind of the Nyanya bomb blast, the Sudanese government did not jump at the request from Nigeria. It took months of rigorous scrutiny before the Sudanese government could release a Nigerian suspected to have been involve in the commission of a capital offence for trial in his country (Nigeria).

    Some few years ago some foreign citizens were accused of bribing some Nigerian officials in the Siemens, Julius Berger and Halliburton scandal. They were charged in Nigerian courts, but were never tried. Their companies were only made to pay some money as fine to the Nigerian government, after which the officials and their companies were let off the hook.

    However, two senior Siemens officials were found guilty of breach of trust and abetting bribery in Nigeria by a Munich court in Germany.

    Also, the Nigerian government once brought charges against a former ýUnited States’ Vice President, Dick Cheney, who it charged with corruption. He was charged as the Head of Halliburton when the company’s engineering subsidiary, KBR purportedly paid bribes to secure contract in Nigeria.

    The trial never went on as the Nigerian government, on October 14, 2010 ýdiscontinued the case. It was not in public domain whether Federal Government applied to the countries of these foreign nationals for their extradition to Nigeria for them to be tried here.

    Observers are of the view that since the Nigerian government is always eager to send its citizens abroad for trial, it should have also insisted that these foreign citizens were brought to Nigeria for trial.

    The latest case is that involving a former managing director of the Nigerian Security Printing and Minting (NSMPC) Plc, Emmanuel Okoyomon, who the Federal Government seeks extradite to the United Kingdom for trial.

    Okoyomon is purportedly wanted in UK over his alleged role in the bribery scandal involving officials of Central Bank of Nigeria (CBN), NSMPC and Securency International Pty of Australia, between 2006 and 2008.

    The government, through AGF applied on September 23 this year, for an order to enable it extradite Okoyomon to the United Kingdom based on a purported request by a UK’s Diplomatic Representatives, based on a supposed extradition treaty between the United States of America and Great Britain, signed in London on December 22, 1931.ý

    At the hearing of the extradition application recently before Justice Evoh Chukwu of the Federal High Court, Abuja, the AGF argued that the 1931 treaty  between the US and Great Britain was binding on Nigeriaý.

    Alex Iziyon (SAN), representing Okoyomon, disagreed, arguing that the treaty which the AGF relied on is not applicable to Nigeria and could not be a ground to extradite a Nigerian Citizen to the UK.

    “There is no treaty between the UK and Nigeria for the purpose of extradition of the respondent (Okoyomon) or any other person contrary to the submissions and assertions of the applicant (AGF). The treaty between the United States of America and Great Britain applied on to pre-independent Nigeria as part of the British colony at the time, and therefore subject at that time, to the treaty.

    “However, after Nigeria’s independence, all the imperial treaties and Acts applicable to Nigeria were repealed by the Extradition Act, Decree No. 87, 1966 which came into force on January 31, 1967.  In the absence of any Act of the National Assembly domesticating or making the said treaty applicable to Nigeria, no Nigerian can be extradited to the UK,” Iziyon said.

    Justice Chukwu has fixed judgment in this case for December 17.

    While many await the court’s judgment on this important case, lawyers have suggested that rather than ýsending Nigerians abroad for trial over cases that could be effectively tried by courts in the country, the government should consider strengthening the courts and prosecuting agencies like the Economic and Financial Crimes Commission (EFCC) to enhance their capacity to deal with such cases.

    Dr. Richard Chukwuemeka noted that the EFCC hasý experienced investigators and prosecutors, who can handle complex cases. He argued that pandering to foreign authorities by sending our citizens abroad for trial makes the country look cheap before other countries.

    “Nigerian authorities should be reminded that patriotism is not imposed on citizens. It is only when citizens believe that their country can protect their interests at any time that they will be willing to do anything for such a country. We should let citizens’ interests drive our policy direction in this country, particularly on foreign relations.” he said.

    Another  lawyer, Abdulazeez Ahmed of the Centre for Democratic Right (CDR), noted that the prison transfer agreement the country recently signed with the UK will be defeated if “we extradite our people to be tried in the UK only to have them shipped back to Nigeria to serve their prison terms. Those in authorities should reconsider the idea of taking Nigerians abroad to face trial at the behest of other countries, who are always reluctant to treat their citizens that way,” he said.

     

     

  • Law firm launches policy dialogue series

    To offer best practice and keep with the trends,Olisa Agbakoba & Associates (OA&A) now Olisa Agbakoba Legal (OAL) is set to strengthen its commitment to clients by providing legal solutions through a newly launched “Policy Dialogue Series”(PDS).

    During the unveiling of the firm’s new  OAL logo, its Senior Partner, Olisa Agbakoba said the PDS is driven by the need to address issues that impact on the polity, legal systems, regulatory and institutional framework.

    Banking on its partners, such as the National Competitiveness Council of Nigeria (NCCN), London Maritime Operators, Nigerian British Chamber of Commerce, Commonwealth Lawyers Association, the Capital Market Lawyers Association, Maritime Arbitrators of Nigeria, International Chamber of Commerce, the Franco-Nigerian Chamber of Commerce, Lagos Chamber of Commerce and Industry, among others, to drive the platform, Agbakoba said the series  is designed to bring together business operators, regulators, entrepreneurs, lawyers and government heads. They will engage in on maximising Nigeria’s economic assets towards growth and development among  other related issues.

    He said as part of the Dialogue programme in 2015, the firm will engage in serious dialogue and economic interrogation with policy makers, experts and stakeholders on several topics.

    “The topics will include Waking up Dead Capital- Shipping sector, Aviation, Small and Medium Enterprises, Space law development, Strengthening our regulators and Strategies for raising alternative revenue in the face of dwindling oil prices,” he said.

    Agbakoba disclosed that the drive of the firm in 2015 will be to strengthen and develop its capacity to facilitate the provision of quality legal services to its clients adding that to support the global perspective of the firm and desire for excellence, the firm has imbibed a new name, logo and identity.

    “Because OAL understands that delivering legal solutions and engineering change will require more than a name, OAL’s enviable network of relationship will be deployed to effective use,” he explained.

    He explained that OAL resource base is phenomenal with hundreds of publications on development law covering space, privatization, economic reforms, aviation, shipping, maritime, institutional reforms and investment law and reports from participants in various committees in federal, state and international level.

    “The changing face of Nigeria’s economy requires different approach in policy formulation, review and services. Economists and developing law experts now understand and advocate that law plays an important role in economic reforms and development, because certain legal and institutional frameworks are particularly conducive and enable economic growth,” Agbakoba reiterated.

    Priscilla Ogwemoh, its Managing Partner noted that  firm which has over 63 years of experience in providing legal services has built a reputation as one of the leading law firms in Nigeria, dedicated to excellence, commitment, integrity and uncompromising service and has offices in Lagos, Abuja, Onitsha and Port Harcourt.

     

     

     

     

     

     

     

     

  • UNILAG’s harsh policy on new students

    SIR: The screening exercise for fresh undergraduates recently carried out by the authorities of the University of Lagos (UNILAG) left much to be desired. There is no gainsaying that the institution is an attraction to many students from within and outside the shores of the nation. It has also made its mark among the tertiary institutions in the country, which belong to the old generation.

    I am inclined to suppose that the institution enjoy to a great extent, the monopoly of deciding on the manner and pattern of conducting the process of screening fresh students offered admission. Such policy, however should consider the safety and security of the students. From the admission stage, students had to shuttle Cybercafés to access information about screening which could have been better communicated through text messages via SMS. This made many fresh students to be late for the screening exercise.

    As a concerned parent, I particularly frown at the mode of screening. The students were required to be on campus for about three weeks to carry out the exercise. This was started with completion of form online to presentation of photocopies and originals of their credentials for sighting followed by payment of relevant fees and to enrolment as the final stage.

    The exercise was faulty because none of them could be carried out without being physically present on campus. I took some of the officials up on why it was not deferred till the students resume when accommodation for them could have been secured. The answers were not encouraging: UNILAG authorities did not want to admit students with deficient results; besides, it was a way of teaching them to stand on their own. What a hard way!

    The policy of the institution provides for admission of qualified candidate with a minimum age of 16 years old. At such a juvenile age, Nigerian law does not allow that they be accommodated in a hotel as a guest. They were not even entitled to travel by air unaccompanied. UNILAG however wanted them to come for the exercise without their parents. A pertinent question one may ask is, is the school meant for only people within Lagos State?

    As my son went to some of the designated centres for the screening, I observed some hostility in the eyes of the officials. Before you blink your eyes, he was requested to present a document which he had to go back to internet to produce; before he returned they had decided to call it a day. This is the plight of almost all of them. No amount of pleading would make such student not to come back the following day for the same thing which he was not sure would be accepted.

    The policy was not friendly. Such exercise should consider the interest of those who are not resident in Lagos and who probably have no relations in the city. At best it should be carried out only at the resumption of the students. If online screening should precede the physical aspect it should be all-embracing and adequate until the students resume.

    The institution may also wish to consider approving overtime allowances for all staff who would be engaged in the exercise during screening. It looks absurd and intimidating that after a child had stood on queue for a long time, he is greeted with stern directive of come tomorrow.  And these would be from officials who would not start the day’s work until 11 am. University of Lagos should please refrain from stressing fresh students with harsh policy in future.

     

    • Andrew Adedoyin,
  • Insurance firms launch first online auto policy

    Insurance firms launch first online auto policy

    In its quest to encourage insurance culture, six leading insurance companies including AIICO Insurance, Custodian & Allied Insurance, Leadway Assurance, NEM Insurance, Royal Exchange Plc and Sovereign Trust Insurance along with the National Insurance Commission and Hightower Insurance Brokers at the weekend launched MyAutoGenius.com, arguably Nigeria’s first online insurance comparison platform that promises to provide car owners across Nigeria with auto insurance policies within five minutes.

    With 15.5 million cars in Lagos alone and over 14per cent of cars on Nigerian roads uninsured or driving with fake insurance policies, there has always been a gap to access an insurance intermediary channel that will provide the advantage of convenience, speed and authentic insurance covers in real-time.

    All insurance policies bought on myautogenius.com web or mobile sites will also  be uploaded instantly on Nigeria Insurance Database (NIID), by Hightower Insurance Brokers Ltd (The brokerage company behind AutoGenius), to guarantee its authenticity.

    At the launch, Mr. Kola Oyeneyin CEO, Venia Technologies Limited, owners of myautogenius.com, demonstrated to the audience how fast and easy it is for prospective clients to buy their car insurance covers available from the leading insurance players in the country within five minutes.

    Speaking on the new innovation, the Deputy Director of the Nigerian Insurance Commission – Mr. Segun Farinu, who represented the National Insurance Commissioner Mr. Fola Daniel, said the entire insurance industry in Nigeria is excited about an expected positive impact that technology would have in the insurance sub-sector, especially with initiatives like myautogenius.com.

    He said that the seriousness of the insurance industry was evident as all partners have come out in full support of the transformation drive embarked on by the team at AutoGenius.

    Echoing similar sentiments, Mr. Onyeka Akumah, Lead Marketing/Communications Consultant at AutoGenius also explained that leading up to the launch, the  marketing team created hash tag #OneGuyLikeThat to ask Nigerians about their ‘One-Guy-Like-That’ experience in general and as it concerned auto insurance.

    With over 204,285 Nigerians reached in seven days of starting off the campaign, there was a lot of buzz and expectation to the launch of AutoGenius in other to understand what exactly Nigerians were to expect from the platform, Akumah stressed.

    Other partners who were well represented at the event and support the platform with added advantages for users who will purchase their auto-insurance policies through the platform include AA Rescue, and Oando Marketing Plc , which had Mr. Mobolaji Bamiro  representing its Chief Executive, Mr. Yomi Amobokun.

  • State AGs to adopt custodial sentencing policy

    State AGs to adopt custodial sentencing policy

    The attorneys-general (AGs) of the 36 states have agreed to adopt a non-custodial system as part of their sentencing policies and initiatives in their state.

    It is intended to decongest prisons and improve conditions in line with international standards.

    Under the custodial sentencing policy operating in Lagos State, persons convicted of lesser offences will be sentenced to community service and be allowed to come from home to serve the punishment.

    The decision was at the fore of other issues agreed upon at a round- table conference on “Building a Culture of Pro Bono in Nigeria”, in Lagos.

    The Lagos State Attorney-General and Commissioner for Justice, Mr. Ade Ipaye, briefed reporters at the weekend at the end of a conference organised by the Lagos State Public Interest Law Partnership (LPILP), in collaboration with the Ministry of Justice, Justice Research Institute Ltd and PILnet: the Global Network for Public Interest Law. Ipaye said the body of the Attorneys-General urged judges and magistrates to recognise the importance of according priority status to the cases being handled free of charge (pro bono) and ensure that adjournment time lines are short.

    He lamented that available statistics on the justice system indicated a gap in the justice system.

  • Lawal faults Keshi’s selection policy

    Lawal faults Keshi’s selection policy

    Former Nigerian International has joined the train of criticism against Super Eagles Manager, Stephen Keshi, over his selection of players. John Oweri also called on the Big Boss to try other players.

    Speaking with Brilla fm, former Roda JC of Holland and former Super Eagles midfielder, Garba Lawal said “It is obvious that we need fresh players in the team because whatever the coach is doing is not going right at the moment”.

    He added “I believe things are not going well at this moment, as a coach you need to change, if you keep on insisting for how long will we be watching?” He asked.

    Lawal claims it would be difficult to qualify for Morroco 2015, if we are still building a team at this stage, in His words: “I can’t just understand up till now we are still building our team, every time we building we don’t have a team yet”.

    The Ex-International is the latest Nigerian to openly criticize Keshi.

  • Kudos to FCT minister on land swap policy

    SIR: Minister of Federal Capital Territory (FCT), Senator Bala Mohammed has continued in his trend of developing Abuja through private initiatives with the recent signing of land swap agreement between the FCTA and four Land Swap investors – System Properties Development Consortium Limited, Urban Shelters Infrastructure Limited, AMPM Limited and BGD Properties Limited.

    According to the agreement signed on September 22, these investors are to provide some N170 billion worth of infrastructure in some Land Swap districts in the Phase IV of the southern part of the Federal Capital City, Abuja.

    As the Minister noted while signing the agreement, the deal which was achieved through intense negotiations and hard work between the FCTA and the land swap investors, has the multiplier effects of creating about 500,000 new jobs in the Federal Capital Territory. It would also fetch the FCT administration about N170 billion – being the total money paid by the investors – while additional N600 to N700 billion will be recouped when 11 other investors who bid for the contract are brought on board.

    It is noteworthy that when Senator Bala Abdulkadir Mohammed came on board as Minister in April 2010, plots in such popular districts as Durumi, Wuye, Jahi, Katampe Gwarinpa and so on had been delineated and fully allocated without caring a hoot about their infrastructure. The result was that individuals and corporate institutions had land titles but could not develop them, not necessarily because they didn’t have money but due to the absence of infrastructure in these districts. To reverse the unsavory trend of allocation of plots without consideration for infrastructure and up the momentum for standard engineering infrastructure provision in the nation’s capital, the Mohammed administration was compelled to introduce land swap as a policy which entails granting agreed percentage of land in a greenfield district to a developer for real property development under a special contract envisaged by the Land Use Act. In exchange for the grant, the developer is to provide primary infrastructure in the agreed district without any financial, technical or demand risk on the part of the FCTA or the Federal Government.

    Land swap was therefore devised to catalyze the development of districts within Phase IV of the Federal Capital Territory and open more doors and windows for all interested Nigerians and non-Nigerians to live, work, relax and do business in the territory. The idea is to open up more areas of the Federal Capital City (FCC) via accelerated infrastructure provision in new districts because in Abuja, infrastructure development must necessarily precede construction of residential, commercial, institutional and office buildings.

    The minister really deserves kudos for these innovations that have been commended by both the World Bank and the Nigerians in Diaspora as a policy that actually has the key to unlock Abuja’s huge development potentials.

    • Ibrahim Serki-Yaki,

    Gadowa District, Abuja

  • Emerging market governors back Fed policy

    Emerging market governors back Fed policy

    Emerging market central bank governors support efforts to normalise developed-world monetary policies.

    This sis happening despite the stresses some have faced since the Federal Reserve signaled its desire to reserve its extraordinary policy measures in May 2013, according to Ravi Menon, Managing Director of the Monetary Authority of Singapore.

    “Most emerging market central bank governors that I have heard, say normalisation of monetary policy is welcome,” says Menon in an interview published today in Central Banking journal. “All they want is that normalisation is done in a calibrated, clear and orderly fashion.”

    In contrast to the views of many pundits in the financial services industry, Menon sees the benefits of normalisation – which includes raising interest rates as well as ending asset purchases – outweighing any short-term costs of capital reversals.

    “The sooner we see a normalisation of monetary conditions globally, the better for us here in Asia and in emerging economies,” says Menon. “The spill-over effects of unconventional monetary policies are not insignificant – volatility in capital flows, pressures in asset markets, a general increase in financial stability risks and a flattening of the yield curve that distorts investment decisions. These are not trivial consequences.”

    Menon says abnormally low interest rates have caused “longer-term structural challenges” for some financial market participants, such as pension funds.

  • NACCIMA reiterates commitment to auto policy

    NACCIMA reiterates commitment to auto policy

    The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) haspraised the Federal Government for coming up with the auto policy, which is expected to reduce importation and boost local production of motor vehicles.

    According to the association’s National President, Alhaji Mohammed Abubakar, the effort of government has started yielding results as assembly plants such as Innoson Motors and NISAN have begun  operations in the country to boost supply of automobiles for the citizens.

    The auto policy, according to him, in the long term will create jobs as there will be off shoot of companies to produce auto accessories like windscreen and glasses, car seats, etc. This will gradually lead to complete auto production in the country, thereby fulfilling the long term auto plan of government.  Also, learning from Nigeria’s past failure, an emphasis on developing dynamic and innovative assembly plants is the best way to ensure the industry will be sustainable. This ensures that Nigerians can purchase modern cars, which will eliminate the desire for foreign cars.

    However, to ensure that the good intention of government on the policy  will become a reality if it is well harnessed and implemented and probity brought to bear in the overall interest of all stakeholders.  NACCIMA applauded the government for the extension of the levy to next year, adding that it will no doubt, enable the assembly line to produce the right quality at the required quantity at the right time.