CBN demands power to freeze accounts linked to criminals; credit tribunal

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July 16, 2020

CBN-Governor-Godwin-Emefiele — Central Bank of Nigeria Governor, Godwin Emefiele.

The Central Bank of Nigeria (CBN) Wednesday demanded statutory powers from the Nigerian Senate to enable freeze bank accounts that are linked to criminal suspects.

This demand was made on behalf of CBN by the Director, Legal Services, Mr Kofo Salam-Alade, who appeared before a Senate Committee Hearing for a new Act seeking to replace the Banks and Other Financial Institutions Act (BOFIA) of 2004.

The lawmakers have commenced the process of repealing/replacing BOFIA 2004 with the re-enactment of BOFIA 2020. However, a particular omission in the new bill has the CBN worried.

In his presentation to the committee, Salam-Alada pointed out that the new BOFIA bill has ‘inadvertently’ omitted a clause that should normally grant the CBN Governor the power to freeze any bank accounts linked to criminals, subject court order.

In 2004, the BOFIA Act had contained this clause. However, the new bill seeking to re-enact BOFIA does not have it. Interestingly, this new bill has passed its second reading at the senate, meaning that it could soon become law.

According to Salam-Alade, the clause should be re-introduced into the new BOFIA bill in order not to frustrate the CBN’s fight against fraud and other financial crimes.

“This omission erodes the powers of the CBN and creates a huge gap in the regulatory and resolution framework. Therefore, we propose that the extant provisions should be reinstated,” Salam-Alada argued.

Also, the CBN director called on the lawmakers to consider the creation of a credit tribunal saddled with the responsibility of addressing persistent issue of non-performing loans in the banking sector.

Salam-Alada explained that such tribunal will fast-track the recovery of loans from banks and other financial institutions through the enforcement of rights over collaterals.

“As part of measures to address the role of nonperforming loans, we propose the creation of a credit tribunal. The overarching objective is to create an efficient regime for the recovery of eligible loans of banks and other financial institutions and enforcement of rights over collateral securities.

“Several new types of licensed institutions have entered the Nigerian financial services sector since the enactment of the 1991 Act. These include the non-interest banks, credit bureaux, payment system service providers, among others. There is a compelling need to introduce new provisions in the bill to address the unique peculiarities of these institutions”, he said.

As a matter of importance to the Apex bank, Salam-Alade also raised the issue of intervention, pointing to the committee the omission of power granted the CBN to intervene and rescue a failing bank in the new BOFIA bill.

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Buhari, Aisha mourn first female NAF combat helicopter pilot, Tolulope Arotile

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Tobiloba Kolawole

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July 15, 2020

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President Muhammadu Buhari and First Lady, Aisha, have mourned the passing of Flying Officer Tolulope Oluwatoyin Sarah Arotile, who died in a road accident in Kaduna.

Late Arotile died on July 14 at the age of 24, when she was inadvertently hit by the reversing vehicle of an excited former Air Force Secondary School classmate while trying to greet her. She died as a result of head injuries sustained from the incident.

Born on December 13, 1995 to the family of Mr. and Mrs. Akintunde Arotile in Kaduna, late Arotile hailed from Ijumu Local Government Area of Kogi State.

Flying Officer Arotile was commissioned into the Nigerian Air Force as a Pilot Officer on September 16, 2017 and held a Bachelor of Science in Mathematics from the Nigerian Defence Academy.

She was winged as the first ever female combat helicopter pilot in the Nigerian Air Force on October 15, 2019, after completing her flying training in South Africa. She held a commercial pilot licence and also underwent tactical flying training on the Agusta 109 Power Attack Helicopter in Italy.

Incidentally, late Arotile introduced the newly acquired Agusta 109 Power Attack Helicopter to Buhari during the induction ceremony at Eagle Square in Abuja on February 6, 2020.

Before her untimely death, she made significant and outstanding contributions to the war against terrorism, armed banditry and other forms of criminality in the Country, flying several combat missions.

She joined the Nigerian Air Force out of passion for the job.

According to her, “I joined the military simply out of passion for it. Being a military personnel has been a long time ambition, the carriage and what it stands for are simply exceptional.”

Condoling with the family on loss of such a promising officer, whose short stay on earth impacted greatly on the nation, especially in peace and security, the President saluted Arotile’s bravery in the field to protect the country from onslaught of bandits and terrorists.

He assured that her memory would be indelible, and her efforts remembered.

Buhari commiserated with the Nigerian Air Force, airmen, airwomen and all friends of the deceased, recalling her deft skills in manoeuvring combat helicopters, which he had physically witnessed with pride.

The President sympathised with government and people of Kogi State on the loss.

Buhari, in a statement by his Special Adviser on Media and Publicity, Femi Adesina, prayed God to receive the soul of the departed, and comfort the family she left behind.

Also, First Lady said of late Arotile: “It’s with a heavy heart that I received the news of the demise of Flying Officer Tolulope Arotile, the first female Nigerian Airforce Combat Helicopter Pilot.

“I condole with the family of Flying Officer Arotile, the Nigerian Airforce and the country over this irreparable loss.

“The deceased was an intelligent young woman, a huge potential, a representative of both Nigerian women and youth, and what they could achieve.”

Late Arotile attended Air Force Primary School, Kaduna from 2000 to 2005 and Air Force Secondary School, Kaduna between 2006 and 2011 before she later gained admission into the Nigerian Defence Academy, Kaduna as a member of 64 Regular Course on 22 September 2012.

Idowu Sowunmi

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Court jails Ex-NIMASA ED, Agaba 7 years imprisonment for Laundering N1.5bn

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Tobiloba Kolawole

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July 15, 2020

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NIMASA Ezikiel — Former Executive Director of the Nigerian Maritime Administration and Safety Agency (NIMASA), Captain Ezekiel Bala Agaba found guilty of money laundering to the tune of N1.5 Billion.

A Federal High Court sitting in Lagos has sentenced a former Executive Director of the Nigerian Maritime Administration and Safety Agency (NIMASA), Captain Ezekiel Bala Agaba, to seven years in prison for laundering the sum of N1.5 billion.

Justice Ibrahim Buba handed down the sentence on Wednesday, after convicting the former NIMASA ED.

In 2015, the EFCC had alleged that the convict while serving as the ED in charge of Maritime, Safety and Shipping, fraudulently conspired with the then-Director General, Patrick Akpobolokemi, to obtain the huge sum by false pretence from the Federal Government after which it was fraudulently converted.

In June 2019, the Federal High Court sitting in Lagos also sentenced the former Director-General of the agency, Calistus Obi, to seven years in prison or a N42 million fine.

Justice Mojisola Olatoregun gave the sentence on June 3, following allegations of fraud to the tune of N136 million.

Another former Acting Director-General of NIMASA, Haruna Baba-Jauro, also faced trial in 2019 on 19 counts bordering on theft, fraudulent conversion of NIMASA’s property to their private use and money laundering of N304 million.

Baba-Jauro assumed leadership of the agency after the tenure of Patrick Akpobolokemi.

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President Buhari hits EFCC with a purge, suspends Secretary Olukoyede, 11 others

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Tobiloba Kolawole

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July 15, 2020

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EFCC Headquarters Olukoyede — Executive Secretary of the Economic and Financial Crimes Commission (EFCC), Olanipekun Olukoyede

Nigeria’s President Muhammadu Buhari has suspended about 12 senior officials of the Economic and Financial Crimes Commission, P.M News reports.

The notice of suspension was communicated to the Acting Chairman of the Commission, Mr. Mohammed Umar, on Tuesday night by the Office of the Attorney-General of the Federation.

The suspension of the about 12 senior officials is connected to the probe of alleged atrocities committed under the leadership of Ibrahim Magu, the disgraced and suspended Chairman of the EFCC.

According to P.M News, sources close to the presidency disclosed on Tuesday night that the executive secretary of the EFCC, Olanipekun Olukoyede was not spared the sweeping suspension at the agency.

P.M News, the Nigerian newspaper reported that a source said: “they were suspended for various alleged criminal and corrupt infractions”, so as to not compromise ongoing investigations into alleged corruption leveled against the officials.

“All the top officials in the agency have been suspended, their offices locked, to prevent any tampering with files at the commission”, the source added.

President Buhari suspended Ibrahim Magu, the former acting chairman of the agency last week and appointed the director of operations, Mohammed Umar Abba, to lead the agency in acting capacity.

It was said that Umar was spared the sweeping suspension because he was not culpable in the alleged criminal dealings leveled against Magu and some senior officers.

Following his confirmation by the Senate in November 2018, Olukoyede was appointed the Secretary to the EFCC.

The senior member of the Nigerian Bar Association was first a chief of staff to Magu, and later ascend to the position of Secretary of the EFCC after the five-year tenure of Emmanuel Aremo expired in July 2018.

The former acting chairman of the agency is facing for the second week, grilling by the presidential panel headed by Justice Ayo Salami, over financial allegations and improprieties, including money laundering.

He is facing tough questioning over allegations that he re-looted funds recovered by the commission. And that he accepted bribes to pervert cases of graft.

He is also accused of mismanagement of recovered assets by the EFCC.

Among the issues Magu is helping the panel to resolve are wide discrepancies in figures of recovered monies published by the agency.

The panel has also asked him to react to the Nigerian Financial Intelligence Unit(NFIU) report accusing him of siphoning money from the EFCC.

NFIU report showed that a particular Bureau de Change, owned by Ahmed Ibrahim Shanono linked to the Acting Chairman based in Kaduna has more than 158 accounts and has been receiving huge sums of funds.

The report also accused Magu of laundering money through Pastor Emmanuel Omale of Hand of God Prophetic Ministry.

Omale was alleged to have bought a landed property on behalf of Magu worth N573 million in Dubai, United Arab Emirates.

“Another individual who is helping in laundering funds for the Acting Chairman and who has been referred to in several petitions is one Pastor Emmanuel Omale (Hand of God Prophetic Ministry)” a source quoted by P.M News stated.

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Lagos, USAID sign pact towards new electrification plan for residents

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Tobiloba Kolawole

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July 15, 2020

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Babajide Sanwoolu signs — File Photo: Lagos State Governor, babajide Sanwo-Olu

The Governor Babajide Sanwo-Olu-led Lagos State Government, Nigeria and the United States Agency for International Development (USAID) Power Africa Nigeria Power Sector Programme (PA-NPSP) have signed a Letter of Cooperation to develop new electrification plan for the Centre of Excellence.

The agreement was reached on Tuesday during a virtual signing event involving representatives of Lagos State Government and USAID PA-NPSP.

The Letter of Cooperation is aimed to formally launch Lagos State Integrated Resource Plan (IRP) initiative.

IRP, which would be developed in close coordination with PA-NPSP, would serve as a roadmap to guide the development and implementation of a comprehensive electrification strategy that is best suited to the long-term needs of Lagos State.

The plan, when developed, would be an effective tool towards improved planning and decision making in accelerating successful investment in the electricity sector and ultimately increasing electricity accessibility and reliability in Lagos State.

In support of the Integrated Resource Plan, PA-NPSP would provide an analysis and review of the power sector in Lagos State to develop a state-of-the-art planning mechanism that is best suited for the long-term electricity needs of the state’s residents, businesses, industries, and public/government premises such as hospitals and health clinics.

This roadmap would assist Lagos State Government and the state’s energy stakeholders to predict power system requirements for the next 20 years, enabling the effective and efficient management of energy resources.

Speaking during the virtual signing ceremony, Lagos State Governor, Babajide Sanwo-Olu, said the Integrated Resource Plan is a priority initiative for his administration.

“To improve access to electricity in sub-Saharan Africa, there is no better place to start than in Nigeria.

“The Integrated Resource Plan is a priority initiative for Lagos State Government and it underpins our electricity strategy to ensure access and reliability to Lagos residents is a reality,” he said.

Sanwo-Olu also expressed his administration’s gratitude to the Power Africa Nigeria Power Sector Programme for leading the initiative and also commended all the local stakeholders for providing support to ensure Lagos Integrated Resource Plan becomes a reality and for their continuous support towards making Lagos greater.

In his opening remarks, Lagos State Commissioner for Energy and Mineral Resources, Olalere Odusote, said the development is a significant milestone in the implementation plan of Lagos State Government towards improving electricity access in the state.

Odusote underscored the importance of an energy plan for sustainable economic development.

“It is impossible to have a sustainable economic plan without an energy plan.

“The objective of Lagos State Government is to deliver affordable, reliable, and sustainable electricity to Lagos residents, a key enabler for the vision of making Lagos a 21st Century economy.

“The Integrated Resource Plan will be a sustainable, long-term electrification plan for Lagos,” he said.

USAID’s Mission Director, Stephen Haykin, on his part, explained that “Power Africa recognises the importance of reliable electricity supply to Nigeria’s present and future.”

According to him, “From energy perspective, I can’t think of a better way to accelerate access to electricity than to actively partner with Lagos State Government for the development of a robust Integrated Resource Plan.

“To this end, it is vital that we support this initiative, as it serves as a critical planning process to meet consumers’ needs for electricity services in a way that satisfies multiple objectives for resource use.”

Also speaking at the event, the Deputy Chief of Party for PA-NPSP, Tunde Gbajumo, emphasised the importance of collaborating with relevant stakeholders to develop sustainable solutions.

He explained that PA-NPSP and Lagos State Government would work closely with various stakeholders in Lagos State power sector to develop the Integrated Resource Plan and have already formed a Study Team composed of gas suppliers, the two Lagos distribution companies, generation companies, the Transmission Company of Nigeria, the Rural Electrification Agency and the Federal Government of Nigeria.

Gbajumo said: “The Power Africa Nigeria Power Sector Program is excited to be part of this landmark event for the partnership between Lagos State Government and USAID and hope that this event will serve as a further testament to the productive and sustainable growth of Nigeria’s energy sector.”

Other participants at the event included Lagos State Deputy Governor, Obafemi Hamzat; Permanent Secretary, Lagos State Ministry of Energy and Mineral Resources; General Manager, Lagos State Electricity Board; key representatives from Transmission Company of Nigeria; Rural Electrification Agency; Egbin Power Plc; Ikeja Electric Plc; and Eko Electricity Distribution Company.

Photos:

Idowu Sowunmi

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Gokada founder, Fahim Saleh gruesomely murdered in US

By

Tobiloba Kolawole

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July 15, 2020

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New York Police Department (NYPD) Tuesday says a man believed to be Fahim Saleh, the founder of Nigeria’s motorbike hailing company, Gokada, has been brutally murdered in his New York condo home.

The police explained the gruesome murder of the 33-year-old tech entrepreneur, saying Saleh’s corpse, disembered with an electric saw was found limbless and headless in a building on E. Houston St. at Suffolk St. on the Lower East side, New York. The dismembered body parts were found at the scene of the murder, New York Police reported.

“We have a torso, a head that’s been removed, arms, and legs. Everything is still on the scene. We don’t have a motive,” NYPD spokesman Sgt. Carlos Nieves said.

Saleh, a Bentley University alumnus , who apart from his Gokada business in Nigeria is a co-founder of Pathao together with Hussain M Elius and Shifat Adnan in 2015, bought the condo home in 2019 for $2.2 million, according to New York Post.

My home ♥️ #nyc https://t.co/qVS69x2W5z pic.twitter.com/qnRg4S0YKR

— Fahim Saleh (@fahims) December 17, 2019

Police were alerted to the seventh-floor condo by the victim’s sister who called 911 after discovering her brother’s headless and armless corpse in his home.

An NYPD spokesman said she came calling Tuesday because she hadn’t seen her brother in a day, then discovered his dismembered corpse.

While it is not clear what the motive for Saleh’s murder was, sources, according to New York Daily revealed that an elevator surveillance camera may have caught the victim’s last moments. It shows the victim getting into the elevator Monday, followed quickly by a second man, dressed in a suit, wearing gloves, a hat and a mask over his face.

Wednesday morning, Gokada staff in Nigeria woke up to the shocking news of the death of their founder and CEO, expressing “deep sadness and regret”.

In a statement posted on their Linkedin page, the company described the Saleh’s demise as “sudden and tragic”.

“Fahim was a great leader, an inspiration and a positive light for all of us at Gokada, and we are completely heartbroken by the sad news.

Our hearts go out to his family, friends, and all those who are currently feeling the same pain that we feel right now. Fahim’s vision and belief in us will always be with us, a reminder that we can achieve whatever we set our minds to”, the statement read.

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Photos: First female Nigerian Air Force combat helicopter pilot is dead

By

Tobiloba Kolawole

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July 15, 2020

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NAF Tolulope 1 and 1 — Nigerian Air Force first female Flying Officer, Tolulope Arotile

Nigerian Air Force first female Flying Officer, 23-year old Tolulope Arotile is dead.

The sad news of the young combat helicopter pilot, who died on July 14, as a result of head injuries sustained from a road traffic accident at NAF Base Kaduna, was announced in a statement by NAF’s Director of Public Relations and Information, Air Commodore Ibikunle Daramola, Tuesday in Abuja.

“It is with great sorrow that the Nigerian Air Force (NAF) regretfully announces the unfortunate demise of Flying Officer Tolulope Arotile, who died on July 14, as a result of head injuries sustained from a road traffic accident at NAF Base Kaduna.

“Until her death, ‪Flying Officer Arotile, who was commissioned into the NAF in September 2017 as a member of Nigerian Defence Academy Regular Course 64, was the first ever female combat helicopter pilot in the Service.

“During her short but impactful stay in the Service, late Arotile, who hails from Iffe in Ijumu Local Government Area of Kogi State, contributed significantly to the efforts to rid the North Central States of bandits and other criminal elements by flying several combat missions under Operation GAMA AIKI in Minna, Niger State.

” The Chief of the Air Staff, Air Marshal Sadique Abubakar, on behalf of officers, airmen, airwomen and civilian staff of the NAF, commiserates with the family of late ‪Flying Officer Arotile over this irreparable loss.

“We pray that the Almighty God grants her soul eternal rest,” he said.

Photos:

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Jonathan Appointed ECOWAS Special Envoy to Mali

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B.O.B Echoload

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July 14, 2020

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Former president Goodluck Jonathan has been appointed by the Economic Community of West African States (ECOWAS) as a Special Envoy to lead the sub-regional body’s mediation mission in Mali.

Jonathan’s appointment was communicated to him in a letter signed by the President of ECOWAS Commission, Jean-Claude Kassi Brou.

“Given your position as the former President of the Federal Republic of Nigeria and the great role and contributions your tenure offered to the maintenance of peace, security and stability in our region, I have the honour, in consultation with the Chair of the Authority, H.E. Issoufou Mahamadou, President of the Republic of Niger, to communicate to you, the decision to appoint you as ECOWAS Special Envoy for the socio-political crisis in Mali,” the letter read.

The former president is to engage in consultations with all relevant stakeholders involved in the ongoing dispute in Mali to ensure that a common ground is found in the search for peace.

As a Special Envoy, Jonathan is to facilitate dialogue with all principal stakeholders in Mali, including President Ibrahim Boubacar Keita, opposition leaders, civil society as well as religious organisations, towards resolving the worsening socio-political situation in the West African country.

Speaking ahead of his scheduled departure for Bamako tomorrow, the former president promised to do his best to ensure that the mission achieves the desired result.

He also thanked President Muhammadu Buhari for the support of the Nigerian Government, including providing an aircraft and other logistics needed to make the assignment successful, said a statement by Jonathan’s Media Adviser, Ikechukwu Eze.

Jonathan had led peace missions to many crises-ridden nations in the past. He’s expected to deploy his enormous goodwill within the continent to facilitate the process of restoring peace in the troubled nation.

Mali has been hit by protests, sparked by the outcome of parliamentary elections in March and April, perceived discontent over the government’s handling of the country’s jihadist insurgency and worsening economic situation.

Idowu Sowunmi

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Bayelsa Governor rejoices after Supreme Court verdict

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B.O.B Echoload

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July 14, 2020

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Bayelsa State Governor, Senator Douye Diri, Tuesday celebrated and commended Justices of the Supreme Court for their uprightness.

He described the verdict of the Supreme Court as the triumph of democracy.

Diri, who spoke to journalists in Abuja shortly after the apex court dismissed the appeal filed by Chief Ndutimi Alaibe against his victory at the September 3, 2019 governorship primary election of the Peoples Democracy Party (PDP), explained that the incident has deepened democratic ethos in Nigeria.

The governor noted that the judiciary remains the last hope of the common man in the country.

“Clearly and transparently, the Justices have displayed uprightness. They have also displayed that the Supreme Court is indeed the last court in Nigeria.

“I want to appreciate them and I believe and pray that God will continue to guide them, use them to do justice to all manner of people,” he said.

Diri also appreciated Bayelsans home and abroad as well as lovers of the state government for their prayers and promised not to fail them.

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Energy: Omoboriowo II, Karim, Campbell, others appointed into African Energy Chamber’s Advisory Committee

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Tobiloba Kolawole

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July 14, 2020

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The Chairman and Chief Eexecutive Officer, Genesis Energy Group, Akinwole Omoboriowo II; Chief Executive Officer, Shoreline Energy International, Kola Karim; Chief Executive Officer, Energy & Natural Resource Security, Inc., Derek Campbell; and others have been appointed into the African Energy Chamber’s United States-Africa Committee to serve on its Advisory Board and support the development of stronger energy cooperation and investment between the US and Africa.

Other members appointed by the African Energy Chamber include: Chief Executive Officer, Azimuth Energy Investments LLC, Reginal ‘Reg’ Spiller; Executive Chairman and Chief Executive Officer, Africa Fortesa Corporation, Rogers Beall; President, Kearney Africa, Jude Kearney; Managing Director for Africa, Millenium Challenge Corporation, Alicia Robinson-Morgan; General Manager (Africa), Pioneer Energy, Ann Norman; and Chief Economist, American Petroleum Institute, Dean Foreman.

In their personal capacities, the members of the US-Africa Committee have gathered several decades of experience in government and the private sector from both sides of the Atlantic, and share a passion for Africa and its development.

The decision of the African Energy Chamber was borne out of the belief that the potential for capital, expertise and technology transfers between the US and Africa was being under-exploited.

The US-Africa Committee is the first committee on the African Energy Chamber’s Advisory Board to be announced.

The chamber has put together leading industry experts, executives and public representatives to support several initiatives over the course of 2020 and 2021, such as local content development, natural gas and energy transitions, the promotion of an enabling environment and the expansion of exploration activities.

“The largest but also most recent discoveries in Africa were made by bold and capable American companies who have proven time and again that betting on Africa bears fruits.

“At times when the continent seeks to develop much stronger gas value chains and attract investment into midstream and downstream infrastructure, we need to look back at the United States and develop stronger partnerships.

“As Africa embraces energy transition, a substantial part of the capital needed to develop cleaner energy solutions also lies with American companies and institutions,” said the Executive Chairman at the African Energy Chamber, Nj Ayuk.

African Energy Chamber added that while Power Africa remains to date the most successful initiative to develop Africa’s energy sector by tapping into American capital and technology, more could be done in light of the continent’s continued energy poverty.

The chamber noted that from exploration to gas infrastructure, and from power technology to energy funding, the United States remains a global leader that has much to bring to Africa under the right partnerships and joint-ventures that could support local content development and jobs creation.

Idowu Sowunmi

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