There are indications that the Ekiti state governor may regain his multi billion naira properties seized by the Economic and Financial Crime Commission (EFCC), if the Commission does not move fast to fulfil the court orders.
Justice Nnamdi Dimgba of the Federal High Court in Abuja, who had earlier ruled, authorizing the EFC to seize some properties belonging to governor Fayose pending the completion of an ongoing investigation, said that the order of interim forfeiture made on July 20 had a lifespan of 45 days from the date it was issued.
The judge ordered that the EFCC must conclude its investigation within the 45 days lifespan of the order, adding that the order would automatically dissolve if the EFCC failed to serve a motion on notice seeking its extension on Fayose at least five days to its expiration.
Justice Nnamdi Dimgba had ruled that the order of interim forfeiture did not violate the provisions of section 308 of the Constitution which confers immunity from civil and criminal proceedings on the governor.
“It is my considered opinion that the order of court, made on July 20, 2016 in respect of some property of the applicant, and within the limited scope and duration within which it was obtained, was duly procured and does not offend the provision of the Constitution referred to.
“Although Section 308 of the Constitution serves to isolate governors of states from the distraction of litigation and legal proceedings, to enable them to attend to official responsibilities, it should not be interpreted in such a way as to defeat the fight against corruption, to mean that the EFCC or other investigating agencies cannot take a peep into the assets or personal accounts of a serving governor in the execution of a strictly worded and mutually supervised interim attachment orders for the purposes of obtaining evidence for use in future when the immunity has lapsed.”
Justice Dimgba delivered his ruling on Tuesday shortly after hearing the application by Fayose’s lawyer, Chief Mike Ozekhome (SAN), asking the court to set aside the interim forfeiture orders on 10 grounds.
EFCC’s lawyer, Mr. Andrew Akoja, opposed the application insisting that the commission had violated no law by obtaining the order.
The properties affected by the interim forfeiture orders re-affirmed by the court on Tuesday are four sets of four-bedroom apartments at Charlets 3, 4, 6 and 9, Plot 100, Tiaminu Savage, Victoria Island, Lagos.
The two others are at 44 Osun Crescent, Maitama, Abuja and Plot 1504 Yedzeram Street, Maitama Abuja. [myad]
Several military commanders and base heads in the Niger Delta have made it categorically clear that they will not negotiate the unity of Nigeria and that it will remain an indivisible entity.
This was the outcome of a meeting which the commanders and military heads, held on Tuesday in Yenagoa, the Bayelsa state capital, to review the new strategic direction of Operation Delta Safe (ODS).
Tuesday’s meeting, which lasted several hours at the Joint Task Force Headquarters in Igbogene, was in apparent response to recent pronouncements by militant groups in the region that they had concluded plans to create an independent republic.
It was learnt that part of the agenda of the interactive session which drew sector heads from Bayelsa, Delta, Rivers, Akwa Ibom and Ondo, was to forge a common front against the violent agitators who have been destroying critical oil and gas infrastructure in the region.
The JTF Commander, Rear Admiral Joseph Okojie, who spoke to newsmen on behalf of his colleagues, maintained that every Nigerian has the right to move around anywhere in the country without fear of molestation.
He explained the deployment of heavily armed security operatives to the region, saying that the military has the duty to maintain peace in the area. He assured all residents of the readiness of the military to quell any threat to security in the area.
“All I want to say is that the federal republic of Nigeria belongs to all of us. The armed forces can move anywhere at any time. ODS covers the whole of Niger Delta maritime area.
“So, if you see heavy presence in a village or town, it’s just our routine patrol we are carrying out. It is just the presence, and we have the right to be present there. At least nobody has complained of molestation.
“It’s also about the information passed round recently about some faceless individuals creating certain republics for themselves. This will not be allowed to happen.” [myad]
Minister of the Federal Capital Territory (FCT), Malam Muhammad Musa Bello, has conferred the citizenship of Abuja to the President of the Republic of Benin, Mr. Patrice Talon.
The minister, who received Talon at the Presidential Wing of the Nnamdi Azikwe International Airport, Abuja on Tuesday, also presented him w.
The Minister said that the key to the City of Abuja confers on him the Honorary Citizenship of Abuja, with all the rights and privileges. He emphasized that this honour has been bestowed on the visiting President as a mark of respect for the strong friendship and cordial relationship between the people of Federal Republic of Nigeria and Republic of Benin. Muhammad Bello told the visiting President that Abuja is the symbol of national unity of the country and that it is a rare privilege to have President Talon to be in the city. Responding, the Benenoise President, who led a strong delegation of Benin Government and people to have audience with President Muhammadu Buhari, appreciated the honour done to him. President Talon said that Nigeria and Benin have long standing historical and diplomatic relationship that ought to be strengthened for the mutual benefit of the two countries. “I am highly honoured with this kind gesture and this is an opportunity to open the city of Abuja to every Benin citizen.” [myad]
President Muhammadu Buhari’s Economic Management Team (EMT), on Tuesday, held a consultative forum with a team of notable economic and financial experts to battle the economic recession in the country.
The meeting, which was presided over by Vice President Yemi Osinbajo, at the Presidential Villa, Abuja, listened to strategies and suggestions on how best to reflate the economy bring it out of recession and promptly restore growth topped the agenda.
The Vice President expressed the President’s determination to continuously consider and adopt policies that would boost business, increase employment and provide succor to the poor and disadvantaged.
Professor Osinbajo said: “we will continue to engage with experts and other stakeholders so we can measure progress of the economic policies that have been put in place. The challenges are many but the opportunities are much greater, we are clearly on the path to building an economy that will create jobs and ensure inclusive growth.”
According to a statement by the senior special assistant to the Vice President on media and publicity, Laolu Akande, the The EMT meets weekly and also holds special consultations with members of the private sector and economic experts from time to time.
He named experts who attended the four-hour long special meeting as Mr. Bismarck Rewane, Mr. Bode Augusto, Professor Akpan Ekpo, Dr. Ayo Teriba and Professor Badayi Sani.
Akande said that issues discussed at the consultative forum include the review of the new foreign exchange regime and its effect on the economy as well as the draft Medium Term Economic Framework for 2017-2019.
“The EMT members and the experts made a plethora of suggestions on how to reflate the economy, especially through massive infrastructural spending with active private sector participation, ensure pro-people economic policies, and increase the supply of dollars to the forex market among other issues. [myad]
President Muhammadu Buhari has nominated the Media Adviser to Asiwaju Bola Ahmed Tinubu, the national leader of the All Progressives Congress (APC), Mr. Sunday Dare as one of the executive commissioners in the newly constituted board of the Nigerian Communication Commission (NCC).
According to a statement by the special adviser to the President on media and publicity, Femi Adesina the President nominated Senator Olabiyi Durojaiye, in a letter dated August 2, 2016, sent to President of the Senate, Abubakar Bukola Saraki, as Chairman of the commission.
Others whom the President nominated as Non-Executive Commissioners, according to Adesina, include: Aliyu Sa’idu Abubakar (North East), Clement Omeiza Baiye (North Central), Chief Okoi Ofem Obono Obla (South South), Pastor Ezekiel Yissa (North Central) and Senator Ifeanyi Ararume (South East). [myad]
President of Togo Republic, Faure Gnassingbe has expressed surprise on how the African richest man and President of Dangote Group of companies, Alhaji Aliko Dangote has been able to be in the forefront in the transformation of frican economy with investment drive.
The President emphasized that Dangote has emerged as a man with a mission to aggressively transform the African economy.
President Gnassingbe, who spoke when he visited the Dangote Refinery project in Lagos on Tuesday, said that Dangote is a worthy son of Africa who has chosen to buoy the economic activities of the continent with his investments.
“Aliko Dangote is our pride in Africa and his aggressive investment drive towards developing the economies of the continent should be lauded.”
This was even as Governor of Lagos State, Akinwumi Ambode, who received the Togolese the Dangote Refinery and Fertilizer projects, said the projects will change the face of both Lagos state and Nigeria, once it is completed.
“I understand your interest in the progress of this project Mr President. This investment is one of the biggest in Africa today and it will have a huge impact not only on the economy of all Nigerians but also of the West African region when completed… Apart from creating jobs, this refinery will also contribute immensely to solving the fuel supply challenge in the West African region”
Governor Ambode lauded Aliko Dangote and thanked him for his confidence in the Lagos economy, adding: “we also thank Aliko Dangote himself for his confidence in the Lagos economy. This project is a strong confirmation that Lagos is a prime investment destination…this project shows that there is a positive investment climate in Lagos which has resulted in massive investors’ confidence. We believe strongly that the future prosperity of West Africa is in collaboration between the government and the private sector”
Minister of Industry, Trade and Investment, Okechukwu Enelamah described Aliko Dangote as an African Champion that is bent on developing not only Nigeria but Africa as a whole. He said both the Refinery and Fertilizer projects clearly demonstrate the partnership between the Government and the private sector.
“What we are seeing here is a demonstration of partnership between the government and the private sector at its best. Nobody goes through this site without understanding the power of the private sector to power an economy. We can all envision about what Africans should be but we know we need champions. I think one thing everybody accepts, whether you admire, respect or challenge Dangote or not, is that he is indeed an African champion; he is a Nigerian champion and he will continue to be. He has a choice to invest anywhere in the world but he has chosen to invest and reinvest and reinvest in Nigeria and Africa. So we are very interested in what you are doing and we assure you of the support of the government.”
Alhaji Dangote, who thanked the Togolese President for the honour done him by his visit to his projects, said that the projects would cost a minimum of $17 billion.
He said that the $12 billion refinery would have a capacity of 650,000 barrels a day even as he assured that there will be market for the refined products because even in Africa, only three countries have effective functioning refinery with others importing from abroad.
Dangote named the countries with refinery as Egypt, South Africa and Cote d’Ivoire, saying: “Our refinery will be ready in the first quarter of 2019. Mechanical completion will be end of 2018 but we will start producing in 2019.”
When the projects fully take off in 2019, Dangote said, it would help the country save $5 billion spent on the importation of oil into the country.
The refinery, petrochemicals and fertilizer in one spot according to him, is the single largest stream in the world.
“This site is the biggest site in the world, the refinery is the biggest single refinery in the world, and the petrochemicals are 13 times bigger than Eleme Petrochemicals while the fertilizer plant will be 10 times bigger than former National Fertilizer Company.”
He explained that the project with the $2 billion fertilizer unit was being funded through loans, export credit agencies and own equity.
Dangote said that the diversification of Nigeria economy is long over-due and that one sector that Nigeria can focuse on to rejuvenate the economy is agriculture. according to him, his investment in fertilizer is one sure way the diversification into agriculture could succeed because according to him, it will amount to little if focus is directed to agriculture and fertilizers would be imported.
“Agriculture is the way to go, but a critical component of that sector is fertilizers, Nigeria has more arable land than China which now is the biggest economy in the world, we can tap into our vast land and produce what we need and even export the remaining.
“By the time we complete this project, there will be opportunity to take on agriculture and say bye to poverty, because there will be jobs; no sector has more job potential than agriculture.” Dangote said that the project was an ambitious one and that when completed; it will give Nigeria a new economic direction in the quest for diversification of the economy, as excess products would be imported to give Nigeria the much needed foreign exchange. [myad]
Royal fathers in Edo North Senatorial District have endorsed the All Progressives Congress (APC) governorship candidate for the September 10 election in the state, Godwin Obaseki, assuring him that he will win the poll as Oshiomhole will hand over the baton to him on November 12, 2016. The traditional rulers, who converged on the palace of the Otaru of Igarra, Oba Adeche Saiki II, said Oshiomhole has done his best and they believe he will leave behind a worthy successor. Oba Saiki, who spoke on behalf of the other royal fathers who gave their royal blessings to the APC candidate and his running mate, Hon. Philip Shaibu, during a visit to his palace on Tuesday, said: “today, you have come to introduce to us the new person that will take over from you. “We have listened attentively and we have no option than to believe all you said about him. “For Mr. Godwin Obaseki, we congratulate you for your nomination as the gubernatorial candidate of the APC in this state. “I am sure you will listen to our Governor. He has done his best and he is about going. “Maybe within the next four, months, he will give the baton to you and we will be looking on you to give us your best too. “Actually, we have been praying for a governor that will succeed Comrade Oshiomhole.” Oshiomhole, who introduced Obaseki and Shaibu to the Otaru and the other royal fathers, said: “I have come to present Mr. Godwin Obaseki to you as our gubernatorial candidate, to ask for your royal blessings, your support and prayers, exactly the same way you prayed for me, and God answered, and I won overwhelmingly in this local government. Even by that time, the people with us now were not with us. “Now, with more people with us and retaining those who have long been with us, with your prayers, the journey should be a lot shorter and less tedious and the outcome should be a more resounding victory. So, we are entirely in your hands. Godwin has been the man working behind the scene. He has been the chairman of our Economic Team. “He knows everything that I know and there is nothing we have done that he doesn’t know. “Even the issues we had in the course of constructing the road from here to Ososo through Dangbala. So, I told people he is one man I don’t need to do handing over to. “The only thing is that the mistakes we have made, he will not repeat because he knows those mistakes. He will do things differently in a way that will bring more value because he will not have the learning curve.” On his part, Obaseki assured the royal fathers of his determination to focus on infrastructural, economic and human capital development. “What is going to be unique about the next four to eight years is not just the amount of infrastructure which we must build, nor the number of educational schools which we must refurbish, and make sure that our educational system is brought back to what it used to be. “What is going to be more important and significant for us will be our focus on human and economic development.” Obaseki promised to create jobs for the people and revive the abandoned cement factory at Akoko Edo, describing Akoko Edo as “truly blessed. It has more mining licenses than other local government and working with the Federal Government, we will make sure that most of those licenses are exploited. “Just drive in here and see the waste in Avan Cement. It was heartbreaking. “And I want to assure you that the Avan Cement plant, we will do whatever we need to do to take it from the people who stole our money to build that plant and make sure that plant begins to work in our tenure.” The royal fathers offered prayers for the success of the governorship ambition of Obaseki and Shaibu. That was even as the Otaru of Uzairue, Alhaji Kadiri Imonikhe Omogbai IV, who received Oshiomhole and Obaseki, assured the Governor of 100 per cent votes from the people of Uzairue. [myad]
Nigeria’s premier Economic and Financial Information Hub, Proshare and the Nigeria’s foremost securities exchange for unquoted public companies, NASD Plc, have agreed to a partnership aimed at communicating the activities and developments of the NASD OTC market towards fostering transparency, education and growth.
Speaking on the partnership, the Founder/Managing Director, Proshare Nigeria, Mr. Olufemi Awoyemi, said: “this partnership is critical to our mission of making information readily available to investors to enhance intelligent investing. As investors become more sophisticated and desire alternative investment schemes in an economy technically heading towards recession, investors can now be rest assured of independent analysis that would further enable them make informed investment decisions.”
This was even as the Technical Director/Chief Operating Officer of Proshare Nigeria, Reshu Bagga, also said that the move would see Proshare host a dedicated page for the OTC market within its platform and then a development of investor relations pages for the individual securities trading on the exchange. According to her, this would boost investor’s confidence in trading OTC Market securities.
“While we progress on integrating other markets into one hub – Proshare Markets for easy information access to the investing community, it remains committed to provide credible, reliable and timely information while we seek to enlighten, educate and empower our users.”
Following the launch of Proshare 10.0 Phase project on February 29, 2016, a hub designed to have a direct linkage between markets, businesses, technology and the economy; partnering with other exchanges that make up the Nigerian Financial Market became essential. This partnership will thus combine the professional expertise of NASD Plc with Proshare’s investor education and enlightenment methodologies to boost the activities of the OTC market and in return the Nigerian Financial Market.
The partnership will focus on three broad areas viz: the development of a dedicated page for the OTC Market to enhance data backed engagement; the education of Proshare’s team to deliver independent analysis that can be translated to pricing information; and the deployment of communication strategies to increase the attraction of the NASD OTC exchange to new type firms.
Proshare Nigeria was founded in December 2006 as a niche news and analysis service and has since grown to become Nigeria’s No one Financial Information Hub; with key focus on markets, business, personal finance, economy, start-ups, technology and regulation. Its remit and key proposition is the delivery of a service that is credible, reliable and timely. [myad]
Pope Francis has defended Islam saying that Islam is not a violent religion. He added that only a minority of its faithful are fundamentalists. The Vatican City quoted the Pope, who spoke on the plane on Monday as he was flying back from Poland to Rome, as saying that it is not right to identify Islam with violence. “I think it is neither true nor right to say that Islam is a terrorist religion.
“One thing is true, I think that in nearly all religions there is always a small group of fundamentalists, and it is a problem also for Christians. “If I had to talk about Muslim violence, I would have to also talk about Catholic violence. “Not all Muslims are violent, not all Catholics are violent.” Pope Francis said Europeans should reflect on what drove disaffected youth to join the Islamic terror group. According to him: “I ask myself how many young people, whom we Europeans have left empty of ideals, have no jobs and turn to drugs, alcohol or enrol themselves in fundamentalist groups.” The pope was in Poland from Wednesday to Sunday for the World Youth Day, a week-long event attended by over a million pilgrims. A day before he left, an elderly Catholic priest was killed in Northern France during Mass, in an attack that the Islamic State claimed responsibility dpa/NAN. [myad]
An organization founded by the former Abia state governor, Orji Uzo Kalu, known as Njiko-Igbo, Canada branch, is already canvassing for the second tenure of President Muhammadu Buhari in the 2019 election.
The Igbo Socio-cultural organization insisted that President Buhari had demonstrated endurance and a rare leadership capacity which would guarantee him and the All Progressives Congress (APC) victory in the 2019 election. The group made this known while addressing journalists in Calgary, Canada on its various activities to drum support for President Buhari. The National President of the organization, Clement Ezegbe Jr., who explained that the organization, which was founded by Dr. Orji Kalu, had the mandate to ensure victory for Buhari, said that the transformation recorded in some key sectors of the economy showed that the President remained the candidate to beat in spite of the challenges confronting the nation. Ezegbe said that the organization’s membership is spread across Canada, Poland, USA, Chile, Switzerland and Brazil to mobilize Nigerians to ensure victory for the President in 2019. He added that rival candidates and parties should have a re-think on their positions. Ezegbe further urged Nigerians to give Buhari another opportunity to consolidate on his achievements in key sectors of the nation’s economy. He said: “God has revealed that there is no rival to Buhari’s second-term bid and that is why we are giving him all our support. “For any other party to think that they can dislodge Buhari, they must have a rethink. “I am urging Nigerians to come and support Buhari’s second term bid.” On the current security challenges, while calling for the understanding and cooperation of all Nigerians, the national president said the Federal Government was doing everything within its capacity to ensure the safe release of the over 200 Chibok schoolgirls. He said: “The government is trying not to resort to full war in the release of the girls to avoid casualties. “I just want to appeal to Nigerians to join in the fight against terrorism, which is a major challenge to countries of the world. “Our armed forces are capable, if we all come together to fight insurgency.” Ezegbe said that Njiko-Igbo Canada will soon launch t-shirts, umbrellas, hats and other items for Buhari 2019 re-election bid, adding: “We have engaged with some SouthAfrican/Nigerian musicians to compose a song for Buhari’s achievement.” Ezegbe used the occasion to commend Kalu for his remarkable contributions to the social, economic and political development of Nigeria, adding that his boldness, humility and generosity has earned him robust goodwill beyond the shores of Nigeria. [myad]
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