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  • $9.6b verdict: Senate summons AGF, others

    The Senate on Tuesday summoned the Attorney General of the Federation and Minister of Justice, Abubakar Malami to brief it on the details of the $9.6billion judgement awarded against Nigeria and the  2010 Gas contract to the Process and Industrial Development (P&ID) Limited.

    This followed a motion for a matter of urgent public importance moved by Senator Opeyemi Bamidele, representing Ekiti Central District.

    Also to appear before relevant committees of the Senate on the matter are officials of the Ministry of Petroleum Resources and professional arbitrators engaged on behalf of the Federal Government.

    In his lead debate, Senator Bamidele, who is the Chairman of the Senate Committee on Judiciary, Human Rights and Legal Matters, stressed the need to invite the Minister of Justice and Attorney General of Federation, Mr Abubakar Malami, and other relevant stakeholders to brief relevant committees of the Senate on the award against the Federal Government by a United Kingdom Court.

    He called on the Senate to note with concern that “Nigerians at home and in the Diaspora have become apprehensive while many committees of the Senate have over the last few weeks received several petitions and other direct and circumstantial information on the ongoing legal imbroglio involving the Ministry of Petroleum Resources and, by extension, the Federal Government of Nigeria and the United Kingdom firm known as Process and Industrial Development Limited, herein after referred to as P&ID.”

    Read Also: Senate summons Aregbesola, Dingyadi over Police Colleges

    He said the Senate should be aware that in January 2010, the Ministry of Petroleum Resources, acting on behalf of the Federal Government  executed a Gas supply processing agreement with P&ID whereby Nigeria was to supply zero cost natural gas to P&ID through a pipeline to be constructed by the Nigerian National Petroleum Corporation to P&ID processing facility.

    He said that under the terms of the TSPA, which had a tenor of 20 years, from the date of first supply of wet Gas, P&ID had an obligation to process the wet gas and deliver the derivative to the Federal Government free of charge for power generation while taking any other residual liquid itself at no cost.

    He said that, based on the facts of the case, P&ID served a notice of arbitration on the Federal Government in 2012 on the ground that Nigeria repudiated its obligation under the terms of the TSPA by defaulting to make wet Gas available to it.

    He said the Senate was also aware that a commercial court in the United Kingdom in the suit referred to has ruled that the Federal Government must pay the British firm – Process and Industrial Development Limited – a sum of $9.6 billion or have its assets to the tune of that amount forfeited.

    He urged the Senate to be alarmed that the UK Court’s decision converted the subsequent arbitral award into a domestic judgement against Nigeria, thereby creating a situation where Nigeria’s asset around the world, particularly in the UK and the U.S. risk being taken over by P&ID or its agents.

    He lamented that the damages awarded to P&ID were “manifestly excessive, exorbitant, punitive and a big threat to the economic well-being and security of Nigeria.”

    He added: “The Senate is deeply concerned that the issues arising from the default aforesaid as well as the consequential arbitration, court proceedings and the ensuing award against Nigeria have thus far been concealed from the Senate and the entire National Assembly.”

    He observed that the principal role of the National Assembly, is among others, “to undertake oversight of all government ministries, departments and agencies or amend subsisting laws of the Federation of Nigeria, for the proper functioning and good governance of the country which power is derived from the provisions of the Constitution of Nigeria, 1999 as amended.”

    Senator Opeyemi prayed the Senate to invite the “Honourable Minister of Justice and Attorney-General of the Federation and other relevant stakeholders, including officials of the Ministry of Petroleum Resources and professional arbitrators engaged on behalf of the Federal Government in this regard to comprehensively brief the Senate Committees on Judiciary, Human Rights and Legal Matters, Petroleum Resources (Upstream and Downstream), Gas Resources and Power on the details of the 2010  contract with P&ID  as executed, reasons for the default as well as the handling of resultant negotiations, arbitration, court proceedings and steps being taken to resolve the matter in the overall best interest of the Nigerian economy and security of the nation’s assets at home and abroad.”

    However, citing order 53 (5) of the Senate Standing Rules, Deputy President of the Senate, Senator Ovie Omo-Agege cautioned his colleagues to limit their contributions on the motion which is to invite AGF and other relevant government agencies to brief the Senate as the matter is presently awaiting judicial decision.

    The only prayer of the motion was unanimously approved when it was put to vote by the President of the Senate, Senator Ahmad Lawan.

    Lawan addd that the judgement $9.6billion awarded against Nigeria is one reason the country needs to strengthen its diplomatic engagements with other countries.

  • ‘Ojodu/Berger expansion ready in December’

    Lagos State government has assured commuters that the expansion work at the Ojodu/Berger Junction on the Lagos-Ibadan Expressway would be completed in December.

    Commissioner for Transportation Frederic Oladeinde gave the assurance on Tuesday while speaking with journalists after a tour of the project site with some top government officials.

    He said though the project is  federal, the state government is interested because of traffic coming into Lagos.

    “We would do our best to ensure that by December it would be completed,” Oladeinde said.

    Read Also: Ogun, Lagos to toll Lagos-Abeokuta expressway

    He said the state is passionate about transportation because it is the engine of any economy “and if transportation is not right it is very difficult for the economy to strive; transportation touches everybody because everybody moves from one point to the other.”

    “This is the border between Lagos and Ogun states. Obviously any traffic coming into Lagos is our concern and our interest here is to see how the various traffic agencies working here are coordinating the traffic here and to ensure that there is free flow of traffic.”

    The agencies controlling traffic  are the Federal Road Safety Corps (FRSC), Lagos State Traffic Management Authority (LASTMA) and Ogun State Traffic Compliance and Enforcement Corps (TRACE).

    According to the commissioner, the three agencies are working harmoniously to make sure there is free flow of traffic “and you can see  they are doing a wonderful job here”.

    The commissioner appealed to commuters to be patient with the government on the ongoing expansion work.

    “We are trying to expand this road so that we can create more space so that we can get traffic flowing freely, it is just a little pain, but my advice is that they should be patient with what we are doing”.

    In separate interviews with the heads of the three traffic agencies controlling traffic at the area, they confessed that they have been working harmoniously to ensure free flow of traffic and that they have been able to curtail the menace of the commercial bus drivers.

    The heads of the agencies are: Mr. Mathew Cyril Zango, Sector Head of Operations, Lagos State Command of FRSC; Mr. Jubril Adeyemi Oshodi, Area Commander Ojodu/Berger in charge of the project area, Lagos end, LASTMA and Mr. Ganiyu Amin, Divisional Commander, TRACE.

  • I’ve no candidates for council polls, says Fayemi

    AHEAD of the December 7 local government elections in Ekiti, Governor Kayode Fayemi said on Tuesday that he has no preferred candidates for the forthcoming primary of the All Progressives Congress (APC) in the state.

    Fayemi in a statement by his Chief Press Secretary, Mr. Olayinka Oyebode, said he remained committed to his earlier stance that there would be no anointed aspirants, cautioning people against dropping his name in a bid to scuttle laid down procedure.

    The governor also directed the leadership of the APC in the state to ensure a transparent and hitchfree process for the emergence of the party’s candidates.

    Read Also: FUOYE killings: God will judge Fayemi’s wife – NANS

    Governor Fayemi said that every effort must be made to ensure genuine consensus on candidates’ emergence, adding that clear primary should be the mode of selection, where consensus is impossible.

    “Primaries must be well done in a way that even losers will know that they lost fair and square and I have no preferred candidate anywhere. Everybody should go and work for the support of their people. After all, I went through primaries even as a former Governor and leader of the party,” he said.

    The governor also urged members of the party to show good examples to others by observing laid down rules of the party and ensuring that differences arising from the contest are resolved amicably.

     

  • No more non-performing loans, CBN warns banks

    There is no room for money changers in the banking sector of the financial economy, the Central Bank of Nigeria (CBN), told banks on Tuesday.

    CBN Governor Godwin Emefiele said the banks should be major players in growing the economy, and warned that the era of armchair banking was over.

    According to him, the days of non-performing loans (NPLs) had become history in the country “as anyone who benefits from any facility must pay back”.

    Adding bite to the NPL issue, Emefiele appealed to the judiciary to support efforts towards ensuring that bank debtors pay back what they owe.

    Read Also: CBN cashless policy’ll benefit Nigerians, says PayAttitude founder Apochi

    Speaking at the opening of the 12th Annual Banking and Finance Conference, in Abuja yesterday, the CBN governor, represented by the Deputy Governor, Economic Policy, Dr. Joseph Nnanna, said: “We do not want the banks to be money changers. Banking is not banking if you only play in the government fixed income space.

    “Banking becomes meaningful when you take liquidity excesses from your surplus centres and channel them into scarce areas, that way you are transforming liquidity into assets and you are growing the economy and creating employment.”

    The era when banks deployed their assets in fixed income instruments particularly Treasury Bills (TBs) and Bonds at the expense of the real sector “is over”.

    He charged the banking sector to live up to its core responsibility of stimulating the economy by advancing credit to the real sector to create jobs for teeming population.

    Emefiele, who noted that the days of brick and mortar banking were gone, urged the banks to digitalise their operations.

    He identified unemployment as the biggest challenge in the country and appealed to the banking industry to assist government in tackling the challenge.

    Emefiele said: “Today, with our new generation banks, the players of this space are digital in nature. We have gone beyond armchair banking where players play safe. Today, the CBN is calling on the banking system to be alive to its responsibility. We cannot conceive an economy without banks and neither can we conceive banks without an economy.

    “What do I mean by this?  What I am simply saying is that the days of armchair banking, playing in the treasury bills space- those days are right behind us. The CBN is bullish and we have in fact, taken our responsibility very seriously.

    “In the past months, we have come with new initiatives. The loans to deposit ratio is aimed at transforming liquidity management into risk asset management and asset transformation.”

    Describing unemployment as the most serious issue, Emefiele urged the banks to play a crucial role by supporting government in asset creation.

    “We must support the government in creating jobs for the teeming population,” he said.

    He implored banks to redirect their idle liquidity by transforming them into asset creation tools.

    “We have also tried to de-risk the banking industry. The days of non-performing loans are behind us and we call upon the judiciary to assist us in this regard,” Emefiele said.

    Going forward, he said: “We shall learn to borrow in the old fashion way; by paying back when we have accessed facility from the banks. As Nigerians, the future of our country is in our hands and that future must be defined by the banking industry. Without money, we go nowhere in any economy in the world: with money we can go places.”

  • Protesters demand Ambode’s probe

    SCORES of protesters under the aegis of Lagos Youth Vanguard (LYV) on Tuesday protested at the Lagos State House of Assembly complex demanding the probe of former governor Akinwunmi Ambode.

    The protesters, who chanted solidarity songs, were led by the Patron of LYV, Mr. Rasak Olokooba, and the President of the Group, Mr. Ibrahim Ekundina.

    Some of the placards carried by the protesters read: “Ambode, submit yourself for probe,” “Ambode must be probed,” “EFCC, do your job.”

    The LYV stated in its leaflets distributed to journalists that Ambode “deliberately laid landmine through the obvious improper, inappropriate and insufficient content in his handover note that should serve as a guide to the incoming administration in the tradition of every civilised public officer.”

    The group accused Ambode of flouting official procedures, saying that he refused to abide by the procurement laws.

    He was accused of wrong priority in policies and programmes as well as abandoning the track that could bring about development in the state.

    Read Also: Alleged misdeeds: EFCC searches Ambode’s home

    The LYV said: “We call for his probe and investigation with a view to apportioning appropriate penalties.

    “We want to assure the good people of Lagos State, and all the people that care about Lagos that we will continue to pursue every legitimate means until justice is done.”

    The group’s Patron Olokooba said it was good to be fair to every administration.

    Olokooba added that they had watched events for 90 days and that there were clear indications that the former governor had been making attempts to sabotage the current administration.

    He said: “For every government that is going out, you leave a template for the coming government to succeed. Ambode handed over a very rickety handing over note that cannot assist the current administration.

    “If you go round the state today, you will see that there is no governor that would inherit such state and the people of the state would be happy with him, but thank God the goodwill enjoyed by Governor Babajide Sanwo-Olu is still intact, if not, by now the people of Lagos State would have been complaining bitterly.”

     

     

  • Gbajabiamila, Sanwo-Olu, Adebule mourn Oniru

    House of Representatives Speaker Femi Gbajabiamila and Lagos State Governor Babajide Sanwo-Olu have condoled with the family of Oba Idowu Abiodun Oniru,  the Oniru of Iruland in Lagos State

    Oba Oniru, aged 82, died about 11 am on Monday in Lagos after a brief illness.

    Gbajabiamila said Oba Oniru would be remembered for his fatherly role and commitment to the development of Iruland.

    In a statement by his Special Adviser on Media and Publicity, Lanre Lasisi, the Speaker described the monarch’s death as painful at a time his advice and guidance were needed.

    Gbajabiamila said: “I wish to extend my heartfelt condolences to the family of our late royal father. His death came to me as a shock, but I take solace in the exemplary life that he lived and the legacies that he left behind.

    “Oba Idowu Abiodun Oniru was a father to all. He was a peace loving man, who did his best to make his people happy. I wish to commiserate with the government and the people of Lagos State, particularly the subjects… over this great and irreparable loss.”

    Governor Sanwo-Olu, through his twitter handle @jidesanwoolu, commiserated with the family.

    He tweeted: “On behalf of the government and people of Lagos, I commiserate with the Oniru Royal Family on the transition of …Oba Idowu Oniru, who joined his forebears. His service to the state and country… will remain his enduring legacy…”

    Former Lagos State Deputy Governor Idiat Oluranti Adebule described Oniru as a great monarch, saying he was a peace-loving monarch.

    “He was always bringing people together to live in peace and harmony. He demonstrated a great passion for the development of Lagos State. He was indeed a peace-maker,” she said.

    The Waziri Nupe, Senator Isa Mohammed, also condoled with the royal family.

    Senator Mohammed prayed to God to grant his family the fortitude to bear the loss.

    “My family and I wish to commiserate with you and the entire Oniru Royal family on the passing away of Oba Abiodun Idowu Oniru, the 14th Oniru of Iruland, Victoria Island, Lagos.  May Allah grant him peaceful repose, mercy, forgiveness, eternal rest and reward him with Al-Jannah Firdaus. May Allah also be with you and the children and grant you the strength and fortitude to bear this great loss,” he said.

    Chairman of Iru-Victoria Island Local Council Development Area (LCDA), Princess Rasheedat Abiodun Adu, described the late monarch as a great father.

    Princess Adu said Oba Oniru’s reign brought greater development to Iruland and its environs.

    “Kabiyesi’s reign ushered in unprecedented political and socio-economic development to Iruland and beyond. The late monarch’s demonstration of integrity is matchless,” she said.

    Wife of former Chairman of Iru-Victoria LCDA, Chief Funmilayo Daramola, hailed the late Oniru as a great monarch.

    Chief Daramola, the Alaje Wura of Iruland, said: “Kabiyesi was truly a great person. He was a nice man, who was after the development of the community and Lagos state as a whole. He sacrificed a lot to ensure Iru-Victoria Island is developed.”

    Oba Oniru succeeded his father in 1995. He was born on September 6, 1937, as the 12 of the 15 children of the long-reigning Oba Yesufu Oniru, who died at the age of 120 years.

    The royal family yesterday released the funeral programmes.

    It will start with the Third Day Muslim prayer today at the palace. Christian prayer holds tomorrow.

    On Sunday, the Seventh Day prayer, the Ije, will take place.

    The following Sunday, a programme called Erinla will hold at the palace.

    The late Oba Oniru attended St David’s Primary School and Araromi Baptist School on Lagos Island and Eko Boys High School.

    In 1965, he left Nigeria to study civil engineering at the British Institute of Engineering Technology in Slough.

    He returned to Nigeria in 1968 to join his father to run the family business.

     

  • Court orders DSS to release Sowore to Falana

    A FEDERAL High Court in Abuja has ordered the Department of State Services (DSS) to release detained Convener of #RevolutionNow protest, Omoyele Sowore.

    Justice Taiwo Taiwo, in a ruling yesterday, directed that Sowore, who was also the presidential candidate of African Action Congress (AAC) in the last general election, be handed to his lawyer, Mr. Femi Falana (SAN).

    The activist lawyer is to produce Sowore for arraignment whenever he is required.

    Justice Taiwo also directed that since a charge had been filed against the Sahara Reporters publisher, he should deposit his passport and other travel documents to ensure his availability for trial.

    The judge held that the court’s earlier order, made on August 8, which permitted the DSS to detain Sowore for 45 days in the first instance, expired on September 21.

    He added that since the DSS withdrew its application, in which it had sought the renewal of the detention order for another 20 days, there was no longer any existing order of court for the publisher’s continued detention by the DSS.

    The ruling followed an application filed yesterday by Falana for Sowore’s freedom.

    The Office of the Attorney General of the Federation (AGF) filed a seven-count of treasonable felony and money laundering against Sowore and Olawale Adebayo Bakare (aka Mandate) last Friday.

    Read Also: On Sowore’s travails

    Falana, at the beginning of proceedings, withdrew the application he had filed for his client’s bail, on the grounds that it was overtaken by events.

    The lawyer averred that since Sowore had not been charged with terrorism, there was no basis for the application to be moved.

    He prayed the court to order his client’s release from DSS custody since its earlier order, which permitted the DSS to detain him for 45 days, expired by since September 21.

    Falana averred that since the DSS also withdrew its application for the renewal of the detention order, there was no competent subsisting order of court for Sowore’s continued detention.

    “Since the application for the renewal of the detention of the respondent has been withdrawn and struck out by the court, we urge the court to make an order for the immediate release of the respondent from custody, in line with Section 35 of the 1999 Constitution.

    “In addition, since the order of this court, made on August 8, 2019, for the detention of the respondent by the DSS for 45 days has expired by exclusion of time, the implication is that as from today (yesterday), there is no order of a competent court for the remand or further detention of the applic

  • Yoruba Youth Coalition rejects Akintoye as Yoruba leader

    The Yoruba Youth Coalition Group has rejected and denounced the process that led to the emergence of Prof. Banji Akintoye as the leader of the Yoruba.

    A communiqué made available to reporters on Tuesday in Akure by the Yoruba Youth National Leader, Mr Eric Oluwole and the coalition spokesperson, Mr Ojo Bright, said: “Following the current trend of events within the leadership of Yoruba race, we wish to state without mincing words that the youth of Yoruba extraction vehemently denounce the declaration of Prof. Banji Akintoye as the leader of the race.

    Read Also: Prof Akintoye and Yoruba leadership

    “While we note the essence and need for a Yoruba leader at a critical time like this, we, however, frown at a backyard and lopsided process to produce a leader for the race.

    “We consider this fire brigade approach as one capable of achieving the total opposite of the desired result for the unification of the Yoruba race. This desecration must stop now,” the communiqué read in parts.”

    The group urged the youth to rise up and graduate from being referred to as mere future leaders to leaders of today and tomorrow, saying “hence we cannot afford to mortgage our future by maintaining criminal silence on this pertinent issue.”

  • Killing of python caused cows’ death on sacred hill, say indigenes

    MORE facts emerged on Tuesday concerning the mysterious death of 36 cows on Okeowa hill in Ijare, Ifedore Local Government Area of Ondo State.

    It was learnt from indigenes of the town that the herders killed a big python on the Okeowa hill.

    The killing of the snake, according to them, is a taboo and against the tradition of the community.

    Thirty-Six cows owned by some herders died mysteriously in the community after they were said to have been struck by lightning on Saturday.

    The traditional ruler and people of the community confirmed that the cows died after they desecrated the Okeowa hill, where sacrifice is made every year by their monarch.

    But a source in the town said the cows died because the people abandoned the annual ritual at Okeowa hills.

    “When you get to the palace, ask them when last they worshipped on Okeowa,” he said.

    Read Also: Ondo PDP loses Woman Leader, 13 days after auto crash

    The Miyetti Attah Cattle Breeders Association of Nigeria in the state described the death of the 36 cows as an act of God.

    Its Chairman, Bello Garba, said members of the association had visited the area to ascertain what was responsible for the death of the cows.

    He noted that their findings showed that the cows were not poisoned, as being insinuated in some quarters.

    Garba said his members would always live in peace with the host communities.

    He added that the association would continue to sensitise its members on the need to avoid sacred areas when grazing animals, to prevent a recurrence.

  • Buhari gives Budget Office marching order on Budget 2020

    Barring the unforeseen, the 2020 Appropriation Bill would be transmitted to the National Assembly for consideration next week, it was learnt on Tuesday.

    President Muhammadu Buhari, a source told The Nation, has ordered the Budget Office of the Federation to expedite work on the budget so that he can lay it before the National Assembly before the end of this month.

    The month ends next Monday.

    The Nation learnt that a letter was on Monday dispatched from the President’s Office to the Director-General Budget Office to ensure that the budget gets to the President’s desk for vetting and approval ahead of the transmission to the National Assembly.

    According to a source, the Director-General, Budget Office, Ben Akabueze “has gone into closed door sessions with Schedule Officers in the Budget Office to come up with a clean copy of the budget that will be taken to the President.”

    The source was optimistic that the 2020 Budget will be submitted to the National Assembly in the coming week.

    Read Also: Federal Govt proposes N9.789tr budget for 2020

    Details of the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) 2020-2022 show that capital expenditure would suffer successive cuts for the three-year period to N1.76 trillion in 2020, despite increases in total expenditure.

    On the other hand, recurrent was billed to rise from N3.41 trillion in 2018 to N4.7 trillion in 2019.

    The key assumptions of the 2020 Budget Framework, include oil production (2.18 mbpd); oil price ($55/pb); exchange rate N305/$; inflation rate 10.81 per cent; nominal consumption (N122.75) trillion; nominal GDP (N142.96 trillion) and a 2.93 per cent GDP growth rate.

    A lower benchmark of oil price of $55/b (against $60/b for 2019) is assumed considering the expected oil glut in 2020, as well as the need to cushion against unexpected price shock.

    Also yesterday, Senate President Ahmad Lawan said the National Assembly was awaiting the presentation of the budget proposals and MTEF/FSP documents by President Muhammadu Buhari.

    Lawan had last Friday expressed the eagerness of the National Assembly to get the 2020 budget proposals.

    The Senate had urged the President Buhari-led Federal Executive to ensure that the 2020 Appropriation Bill was made ready before the federal lawmakers resume from their recess.

    Buhari, Lawan and House of Representatives Speaker Femi Gbajabiamila, have been calling  for the country’s return to the January-December budget cycle.

    Lawan, specifically told all the ministers-designate, after their confirmation, to cooperate with the parliament to ensure speedy submission, consideration and passage of the budget once they were inaugurated.

    On September 4, the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, had, 2019 announced that, “the 2020 Budget preparation process is well-underway, and we intend to finalise and submit the 2020 appropriation bill to the National Assembly by the end of this month.”

    Mrs. Ahmed repeated herself at the presentation of the 2020-2023 Medium Term Expenditure Framework/Fiscal Strategy Paper (MTEF/FSP) in Abuja.

    At the presentation, Mrs. Ahmed said that the next fiscal year would be challenging.

    Earlier in the year, as the 2020 budget preparation commenced, all Ministries Departments and Agencies (MDAs) of government were ordered to get clearance from the Budget office of the Federation (BoF) before they make any new hires or recruitments.

    A circular from the BoF tagged: “2020 personnel cost budget call circular BD/2000/EXP/S.651/)” and issued to all MDAs ahead of the submission of the budget, noted that consultants, contract staff, Youth Corps members, industrial attaches, legionnaires and the likes should not be included in the nominal roll as they are not permanent/pensionable staff of the Federal Government.”

    The circular, which is another mechanism for easing out ghost workers on government payroll, reads: “Allowances due to Youth Corpers are provided centrally through the National Youth Service Corps (NYSC) which is the body charged with the responsibility for paying allowances to Corpers. MDAs are not required to include allowances for Youth Corpers in their personnel cost estimates.”

    “With regards to the impending new minimum wage payout by government, the circular maintained that “the personnel cost template for all employees currently earning below N30, 000 will be immediately amended and used in preparing the budget for affected grade levels.”

    However, for other grade levels, it was revealed that “the existing personnel cost will be used. An omnibus service wide provision will be made to cover the estimated cost of the consequential adjustment as and when negotiations are concluded.”