Tag: nigeria

  • $1.2bn Brazilian Loan Will Plunge Nigeria’s Economy into Further Devastating Pitfall, PDP Tells Buhari

    $1.2bn Brazilian Loan Will Plunge Nigeria’s Economy into Further Devastating Pitfall, PDP Tells Buhari

    Peoples Democratic Party (PDP) has raised fresh alarm over the latest plans by the President Muhammadu Buhari administration to “further mortgage our nation through an additional $1.2 billion loan from Brazil despite the public outcry against the accumulation of loans from China and other foreign interests.”

    PDP cautioned the Buhari Presidency not to “further weaken our nation and using nebulous agricultural programmes as justification for further accumulation of foreign loans, without clear terms and conditions, to the detriment of the poor masses and generations yet unborn.”

    The party further warned that “the loan request, if approved by the National Assembly, will exacerbate our nation’s debt burden, mortgage our agricultural sector, weaken our investment capacity and worsen our food security challenge.”

    READ ALSO:

    #EndSARSProtests: El-Rufai Defends Sanwo-Olu, Describes Destruction of Lagos Assets as Pure Evil

    “Our party invites Nigerians to note that with the $1.2 billion (N459 billion) Brazilian loan, in addition to the N5.20 trillion borrowing already proposed in the 2021 budget, our nation’s debt burden will hit a disastrous N36.2 trillion which will plunge our economy into a devastating pitfall,” said the opposition party.

    PDP urged the National Assembly to save the nation by being circumspect in handling the loan request in the national interest.

    “Instead of this recourse to reckless borrowings,” PDP tasked “the Buhari Presidency to apply itself productively by looking inwards and finding ways to harness and create wealth with the resources abounding in our country.”

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    Opinion: Looting The “Looters”

    “What Nigeria needs now is for government to be more innovative and resourceful in galvanizing a productive economy instead of reducing our nation to a beggar status among the comity of nations,” PDP said, in a statement by its National Publicity Secretary, Kola Ologbondiyan.

    Idowu Sowunmi

  • ICC Opens Inquiry into Nigeria #EndSARS Protests

    ICC Opens Inquiry into Nigeria #EndSARS Protests

    International Criminal Court (ICC) has told BBC that it would “analyse materials” it has received about the violence which hit Nigeria last month following protests against police brutality.

    ICC chief prosecutor’s office said contrary to an earlier report, it has not already opened a “formal preliminary examination” into the unrest.

    ICC Prosecutor Fatou Bensouda & Vice President of Nigeria, H.E. Yemi Osinbajo in Abuja, Monday, October 14, 2019.

    For weeks crowds of peaceful protesters gathered in streets in major cities of Nigeria to demonstrate against police brutality.

    READ ALSO: 

    #EndSARSProtests: Osinbajo’s NEC Embarks on Youth Engagement at Zonal and State Levels

    The protests were held under the #EndSARS banner, a reference to demands for the disbandment of the notorious Special Anti-Robbery Squad, whose officers were repeatedly accused of criminal activity ranging from extortion to extra-judicial killings.

    It led to a crackdown, with security forces and armed thugs accused of killing protesters.

    Some 51 civilians, 11 police officers and seven soldiers were killed in the unrest, according to President Muhammadu Buhari.

    Rights group, Amnesty International, said security forces opened fire on protesters at Lekki toll gate in the commercial hub of Lagos, killing 10 people there.

    READ ALSO: 

    #EndSARS Violence Won’t Discourage Officers from Performing Constitutional Duties – IGP

    The military and police rejected Amnesty’s allegation.

    Some civil rights have been pushing for the ICC to investigate the violence.

    Idowu Sowunmi

    © BBC

  • Okonjo-Iweala Set To Lead World Trade Organisation

    Okonjo-Iweala Set To Lead World Trade Organisation

    Former Minister of Finance, Ngozi Okonjo-Iweala and Nigeria’s nominee for the position of the Director-General of the World Trade Organisation (WTO) is set to emerge winner of the competitive race to the highly coveted head of the international body.

    Reuters on Wednesday reported that a key group of WTO ambassadors proposed Okonjo-Iweala to lead the trade organisation on Wednesday,

    The official announcement is expected to be made later today by WTO.

    Okonjo-Iweala served as Finance Minister twice, that was during the tenures of former presidents Olusegun Obasanjo and Goodluck Jonathan.

    She has experience working at international governance bodies as a former managing director of the World Bank and as a chairman at the Global Alliance for Vaccines and Immunization.

    Once officially announced, Okonjo-Iweala will be the first African and first female director-general of the international body in its 25-year history.

  • Eidul-Mawlid: Nigeria Observes Public Holiday on Thursday

    Eidul-Mawlid: Nigeria Observes Public Holiday on Thursday

    The Federal Government has declared Thursday October 29, 2020 as public holiday to mark this year’s Eidul-Mawlid Celebration in commemoration of the birth of the Holy Prophet Muhammad (Peace be upon him).

    In a declaration, the Minister of Interior, Ogbeni Rauf Aregbesola, on behalf of the Federal Government, congratulated Muslim faithful at home and abroad for witnessing this year’s occasion.

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    British High Commission Urges Restraint as Nigerian Army Intensifies Internal Security

    Aregbesola’s declaration was contained in a statement by the Director of Press in the Ministry, Mohammed Manga, who quoted the Minister to have enjoined Muslim faithful to imbibe the spirit of love, patience and perseverance, which are the virtues of the Holy Prophet.

    Furthermore, the Minister admonished Muslims to follow the teaching of the Holy Quran in Chapter 4 Verse 59 which says: “O you who believe! Obey God and obey the Messenger, and those from among you who are vested with authority; and if you are to dispute among yourselves about anything, refer it to God and the Messenger, if indeed you believe in God and the Last Day. This is the best (for you), and fairest in the end”.

    READ ALSO:

    Photos: Speaker, Femi Gbajabiamila Visits Victims of Vandalism in Surulere Constituency

    Minding the situation across the country, the Minister urged Nigerians, particularly Muslims, Eidul-Mawlid Celebration, to abhor violence, lawlessness, and wantonness and daylight robbery.

    Ogbeni Aregbesola added that Nigeria is the pride of the black race and should provide responsible leadership for the greatness and development of the African continent and all black race.

  • Stop The Protest, We’ve Heard You Loud And Clear – President Buhari

    Stop The Protest, We’ve Heard You Loud And Clear – President Buhari

    After breaking his silence since the deadly Lekki Toll Gate shooting of unarmed peaceful young #EndSARS protesters, Nigeria’s President Muhammadu Buhari yesterday appealed to demonstrators demanding action to overhaul the nation’s Police to end their protests.

    In his address, the president stressed that it had become necessary to address the youths after concluding a meeting with all the security chiefs and having heard from many concerned Nigerians.

    The president however failed to address salient issues such as the mystery that now surrounds the Lekki Toll Gate shooting alleged to have been masterminded by men of the Nigerian army and videos going the rounds that suggests that men believed to be state agents were seen supervising thugs to lunch attack on unarmed protesters on the street of Abuja.

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    Oyo: [Graphic Video] Man Set Ablazed as Gov Makinde Begs for Calm

    While he urged the #EndSARS protesters to bring to an end their demonstrations, President Buhari assured Nigerians that the government has heard their voice and was working to meet their demands on the excesses of some members of the now disbanded Special Anti-Robbery Squad (SARS) and others.

    The President also urged the international community to verify facts before jumping into conclusion.

    “To our neighbours in particular, and members of the international community, many of whom have expressed concern about the ongoing development in Nigeria, we thank you and urge you all to seek to know all the facts available before taking a position or rushing to judgment and making hasty pronouncements.

    “In the circumstances, I would like to appeal to protesters to note and take advantage of the various well-thought-out initiatives of this administration designed to make their lives better and more meaningful, and resist the temptation of being used by some subversive elements to cause chaos with the aim of truncating our nascent democracy.

    “For you to do otherwise will amount to undermining national security and the law and order situation. Under no circumstances will this be tolerated. I therefore call on our youths to discontinue the street protests and constructively engage government in finding solutions. Your voice has been heard loud and clear and we are responding”, he said.

    President Buhari also sounded a note of warning to those who have hijacked and misdirected the initial, genuine and well-intended protest of some of the youths in parts of the country against deviant acts.

    He said while he acknowledged the genuine concerns and agitations of members of the public regarding the excessive use of force by some members of F-SARS and acted decisively, the speed at it the squad was disbanded was misconstrued to be weakness on the part of government.

    “The choice to demonstrate peacefully is a fundamental right of citizens as enshrined in Section 40 of our Constitution and other enactments; but this right to protest also imposes on the demonstrators the responsibility to respect the rights of other citizens, and the necessity to operate within the law.

    “As democratic government, we listened to, and carefully evaluated the five-point demands of the protesters. And, having accepted them, we immediately scrapped SARS, and put measures in place to address the other demands of our youth. On approving the termination of SARS, I already made it clear that it was in line with our commitment to the implementation of extensive Police reforms.

    “Sadly, the promptness with which we have acted seemed to have been misconstrued as a sign of weakness and twisted by some for their selfish unpatriotic interests.

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    #EndSARS: Ohanaeze Ndigbo Dissociates Igbos from Nnamdi Kanu on Destruction of Yoruba Assets

    “The result of this is clear to all observers: human lives have been lost; acts of sexual violence have been reported; two major correctional facilities were attacked and convicts freed; public and private properties completely destroyed or vandalised; the sanctity of the Palace of a Peace Maker, the Oba of Lagos has been violated. So-called protesters have invaded an International Airport and in the process disrupted the travel plans of fellow Nigerians and our visitors.

    “All these executed in the name of the ENDSARS protests. I am indeed deeply pained that innocent lives have been lost. These tragedies are uncalled for and unnecessary. Certainly, there is no way whatsoever to connect these bad acts to legitimate expression of grievance of the youth of our country”.

    President Buhari also commented on the rising spread of falsehood and misinformation, especially through the social media, describing it as insensitive to the pains and plight of Nigerians. He stated further that it was a deliberate ploy to mislead gullible citizens within and outside the country “into unfair judgement and disruptive behavior”.

    He noted that against such falsehood, his administration, both in deeds and in words, has given enough attention “to the wellbeing and welfare of citizens, even with the steadily dwindling revenues, and the added responsibilities and restrictions due to the Coronavirus pandemic”.

    He explained that government has put in place measures and initiatives principally targeted at youths, women and the most vulnerable groups in the society.

    The president listed some of the measures to include the administration broad plan to lift 100million Nigerians out of poverty in the next 10 years, and the creation of N75billion National Youth Investment Fund to provide opportunities for the youths.

    He also listed the Micro, Small and Medium Enterprises (MSME) Survival Fund, through which government is “paying three months salaries of the staff of 100,000 micro, small – and medium – enterprises, paying for the registration of 250,000 businesses at the Corporate Affairs Commission, giving a grant of N30,000 to 100,000 artisans, and guaranteeing market for the products of traders”.

    These, he noted, are in addition to many other initiatives such Farmermoni, Tradermoni, Marketmoni, N-Power, N-Tech and N-Agro.

    Buhari said no Nigerian government in the past had methodically and seriously approached poverty-alleviation like the present has done.

    On the welfare of police personnel, Buhari said the National Salaries, Income and Wages Commission has been directed to expedite action on the finalizing the new salary structure of members of the Nigeria Police Force, adding that the emoluments of other paramilitary services were also being reviewed upwards.

    He continued: “In order to underscore the importance of education in preparing youths for the future, this administration has come up with a new salary structure and other incentives for our teachers.

    “Let me at this point reaffirm the Federal Government’s commitment to preserving the unity of this country.

    “We will continue to improve good governance and our democratic process, including through sustained engagement.

    “We shall continue to ensure that liberty and freedom, as well as the fundamental rights of all citizens are protected.

    “But remember that government also has the obligation to protect lives and properties, as well as the right of citizens to go about their daily businesses freely and protected from acts of violence”.

    READ ALSO:

    Lawmakers Begs for Calm as #EndSARS Protest Assumes Violent Dimension in Ondo State

    The president called on all Nigerians to go about their normal businesses, even as he enjoined security agencies to protect lives and properties of all law abiding citizens without doing harm to those they are meant to protect.

    He also paid tribute to officers of the Nigeria Police Force who tragically lost their lives in the line of duty.

    The president stated: “I would like to thank those state Governors, traditional and religious leaders who have appealed for calm and restraint. I also thank youth leaders who have restrained their followers from taking the law into their hands.

    “This government respects and will continue to respect all the democratic rights and civil liberties of the people, but it will not allow anybody or groups to disrupt the peace of our nation. Thank you all. God bless the Federal Republic of Nigeria”.

  • Ease of Doing Business and Pursuit of Economic Objectives

    Ease of Doing Business and Pursuit of Economic Objectives

    By Sanmi Obasa

    Nigerian government officials at federal and states level are often heard making passionate presentation about doing everything possible to make it easy for investors and entrepreneurs to carry out their activities of producing and growing the economy. In this mode, they cast a genuine desire to achieve the growth objective of monetary and fiscal policies.

    The term or phrase they often use is ‘ease of doing business in Nigeria’. They also sometime use the phrase “creating the enabling environment”. From this background it is assumed they really know and appreciate the term ease of doing business or creating enabling environment for enterprises; which are the real engine of economic growth and development. Do they really know? Do they really conceptualize it within the environment they are operating from?

    Capital is the engine oil, the blood that fosters the economy. But capital has choice. It only goes to where there is profit to be made. If it’s therefore constrained by any circumstances, most especially policies, it will adversely select such discriminating economy. Because of its importance, governments that covet real growth and development do everything to appease capital. And that is where ease of doing business or creating conducive atmosphere for investors emanated from.

    When capital has completed its evaluation of the market/economy and it is convinced that profit will be made without much hindrance, businesses/enterprises are opened and begin to flourish.

    It beholds therefore that a policy maker must have an understanding of his or her policy in order to effectively implement. It is tantamount to knowing the truth for the truth to set one free. This is where lies the problem with Nigerian officials who parrot ‘ease of doing business’ but has no connection with its ideals.

    To enunciate ease of doing business, we firstly must come into term why business. We must know that the whole economy at the micro level is about the firm or business as the unit of production and that no production can take place without the firm. And if there is no firm and no production there can’t be employment, income, growth and development. With business and the concomitant production there will be tax revenue to governments that will pave the way for continuous investment on infrastructure and social projects and programmes.

    While the above fact can be comprehended by government officials in other countries it may be hard for a Nigerian government official to appreciate. Reason being that a typical Nigerian government official has always eternally known that job and income come from the government and oil money. The Nigerian government official has never connected microeconomic role of firms and households to economic growth, prosperity and development. The Nigerian government official is a macroeconomic thinker of the government as the godfather and Santa Claus of everybody, who gives jobs and money, develop infrastructure, etc. Such a macro thinker may not be able to appreciate the real value of ease of doing business.

    On the other hand, if we understand and agree that capital/business is the producer of products/services, employment, income, taxes, growth and development, our attitude to its needs and requirements will change positively. For example, if we know that capital uncompromisingly desires profit and will not move without it, we will remove every obstacle that will prevent it from attaining that goal.

    Hindrances to profit goal of capital includes, uneconomic interests charged by Nigerian financial institutions, prohibitive fees by financial markets, taxes and tariffs, lawyers, accountants, engineers and the legion of security forces at our ports and borders, etc.

    At the heart of the Nigerian government official’s inability to understand what ease of doing business and its real application is, is the structure of the Nigerian economy and state. Nigeria doesn’t operate like the normal economy. The Nigerian economy is based on oil revenue being shared by the federal, states and local governments.  Everybody and activity in Nigeria depends on the oil money. For example, the bank doesn’t need to go through the route of the traditional demand deposit creation of money model to create its revenue and expenses. All a typical Nigerian bank has been doing is, attract deposit from one government ministry or any soft source. The minister and top officials of the ministry deposit the ministry money in the bank and the bank uses it as it likes because the ministry will likely spend less than 10% of the deposit on its obligations while the rest is embezzled by the officials.

    The route to modernizing the Nigerian economy, making it responsive to policies and achieve economic objectives is for government to embrace full market economy in its entirety. What this means is, allowing the market forces to determine economic and even non economic activities. The economy must also be totally deregulated and privatized.

    To fully realize the objectives of market economy, deregulation and privatization, Nigerian government must pursue true federalism and restructuring as being currently agitated for. Market economy, true federalism and restructuring are very critical in fashioning an economy that will generate employment, income, including poverty and corruption reduction. It’s in this framework that real ease of doing business can be realized.

    Sanmi Obasa is a research analyst, he teaches business studies at Centennial College, Toronto.

  • Guinea Bissau at 47: President Buhari Pledges Nigeria’s Increased Support for Stability

    Guinea Bissau at 47: President Buhari Pledges Nigeria’s Increased Support for Stability

    President Muhammadu Buhari Thursday pledged that Nigeria will continue to assist Guinea-Bissau in any way possible, saying ‘‘a peaceful and prosperous Guinea-Bissau is a win for West Africa and for Africa.’’

    According to Special Adviser on Media and Publicity, Femi Adesina, the President joined the Heads of State and Government of Senegal, Mauritania and Burkina Faso to celebrate the 47th independence anniversary of Guinea Bissau at the 24 de Setembro National Stadium, Bissau.

    Speaking at the event, President Buhari said he was proud of the support Nigeria provided to past electoral processes in the West African country’s commendable efforts to entrench democracy.

    ‘‘This support can only be increased under my tenure,’’ he said.

    The President also placed on record Nigeria’s contribution of troops under the auspices of ECOWAS Mission in Guinea Bissau (ECOMIB), noting that they played an important role in maintaining peace and security.

    Congratulating President Umaro Sissocco Embalo, the government and people of Guinea Bissau on the 47th Independence anniversary, the Nigerian leader said it was his sincere hope and prayer that Guinea-Bissau and its people will continue to grow in strength and prosperity.

    He also expressed good wishes for greater achievements in the years ahead for the West African country.

    President Buhari said:

    ‘‘I feel delighted because this is my first official visit to Guinea Bissau since my assumption of office in 2015 and because I am here to join you, brotherly people of Guinea Bissau, as you celebrate this great day with renewed hope and aspiration.

    ‘‘I am truly grateful for the warm reception accorded me and my delegation, since our arrival in this city.

    ‘‘As you mark your freedom as a nation “free forever’, let me seize this opportunity to salute all Bissau Guineans both at home as well as in the Diaspora, for the strides you have made as a country. Permit me to say Parabens! Congratulations!’’

    President Buhari recounted that on September 10, 1974 Guinea Bissau declared its independence from Portugal, after a protracted struggle for freedom, which brought Portuguese colonization to an end.

    ‘‘It is fitting on this august occasion to remember your forebears and to celebrate them for the sacrifices they made for you to be free.

    ‘‘The highest tribute we can pay them is to build on the gains of independence. It is my sincere prayer that your country will continue on the path of national cohesion, growth and unity,’’ he said.

    On the return to democracy in the West African country, President Buhari noted that in the aftermath of the peaceful presidential elections in 2019, which ushered in the present administration of President Embalo, Guinea Bissau had a great opportunity to unleash the great economic potential of this country.

    ‘‘The international community attested to the fairness of the elections now endorsed by the Supreme Court of Guinea Bissau.

    ‘‘I, therefore, congratulate you, the people of Guinea-Bissau for this achievement and urge you to sustain your unity of purpose,’’ he said.

    The Nigerian leader also used the occasion to reflect on the excellent relations between Nigeria and Guinea, pledging that his administration will take it to a new height.

    ‘‘Relations between Nigeria and the Republic of Guinea Bissau which dates back to the country’s liberation struggle against Portugal have been extremely warm.

    ‘‘I am determined to carry this excellent relationship to the next level of fruitful cooperation and partnership, together with my brother Umaro Embalo,’’ he said.

    On regional integration, President Buhari stressed the need for ECOWAS member countries to remain committed to realising the vision of its founding fathers.

    ‘‘It is my desire that Nigeria and Guinea-Bissau as well as other member countries of the Economic Community of West African States (ECOWAS) will continue to provide the impetus in realizing the objectives and ideals of its Founding Fathers and to ensure security, peace and development of our region,’’ he said.

    The President thanked President Embalo, the government and good people of the Republic of Guinea-Bissau for being a good host to Nigerians resident in the country, saying ‘‘colonial boundaries will never break the bond of kinship that binds us’’.

    Later in the capital city of Bissau, President Buhari commissioned a road named in his honour.

  • ECOWAS: President Buhari Pledges Nigeria’s Support for Consolidation of Democracy

    ECOWAS: President Buhari Pledges Nigeria’s Support for Consolidation of Democracy

    Nigeria has pledged to within the limits of resources support the consolidation of democracy in West African countries.

    President of the most populous black nation in the world, Muhammadu Buhari made the pledge on Thursday when he received the President of Burkina Faso, Roch Marc Christian Kabore, who was on a one-day official visit to Nigeria.

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    If Only

    President Buhari at the meeting reiterated Nigeria’s support for Burkina Faso scheduled to hold elections in November this year.

    “We are keeping tabs on situations in countries that have elections ahead. We know the countries that are calm and the ones where there have been unfortunate casualties. We will always support those who have elections ahead, so that things can go smoothly,” President Buhari said.

    Nigeria’s President Muhammadu Buhari receives President of Burkina Faso, Roch Marc Christian Kabore, at theState House Abuja on Thursday, September 17, 2020.

    President Kabore, who chairs the Economic, Trade and Liberalization Scheme of ECOWAS, said he was in Nigeria to discuss with President Buhari crucial sub-regional issues that include the convening of a joint commission meeting between Nigeria and Burkina Faso, reported trade difficulties among Nigeria, Ghana, Republic of Benin, and Niger Republic, and the way forward.

    President Kabore commended President Buhari for what he called “strong leadership and support” displayed by the Nigerian leader in his capacity as Chairman of COVID-19 response in West Africa.

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    “I must also applaud your strong leadership against terrorism in the sub-region,” the Burkinabe Leader said.

    On the situation in Mali, he expressed hope that the summit held in Accra, Ghana, on Tuesday, would yield positive results, stressing: “We need cohesion all over West Africa.”

    Photos:

     

    Nigeria’s President Muhammadu Buhari receives President of Burkina Faso, Roch Marc Christian Kabore, at theState House Abuja on Thursday, September 17, 2020.
  • Again, Obasanjo Hits Buhari, Says Nigeria is Fast Drifting to a Failed State

    Again, Obasanjo Hits Buhari, Says Nigeria is Fast Drifting to a Failed State

    Former president Olusegun Obasanjo has described Nigeria as a failed state, explaining that many of the problems plaguing the country today were due to the recent mismanagement of Nigeria’s diversity, most especially under the President Muhammadu Buhari-led Federal Government.

    Speaking in Abuja while delivering a speech titled: “Moving Nigeria Away from Tipping Over” at a consultative dialogue attended by various socio-cultural groups including Afenifere, Middle Belt Forum, Northern Elders Forum, Ohanaeze Ndi Igbo and Pan Niger Delta Forum, Obasanjo lamented that he had never seen Nigeria so divided.

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    According to him, “I do appreciate that you all feel sad and embarrassed as most of us feel as Nigerians with the situation we find ourselves in. Today, Nigeria is fast drifting to a failed and badly divided state.

    “Economically our country is becoming a basket case and poverty capital of the world, and socially, we are firming up as an unwholesome and insecure country.

    “And these manifestations are the products of recent mismanagement of diversity and socio-economic development of our country.

    “Old fault lines that were disappearing have opened up in greater fissures and with drums of hatred, disintegration and separation and accompanying choruses being heard loud and clear almost everywhere.”

    The former president said only self-deluded people would claim that all is well in Nigeria.

    He said: “I believe Nigeria is worth saving on the basis of mutuality and reciprocity and I also believe it can be done through the process of dialogues rather than talking at each other or resorting to violence.

    “It will amount to dangerous and destructive self-delusion for anybody to claim that all is well in Nigeria today.”

    Obasanjo said those calling for war and succession must remember that Nigeria’s citizens would still need to live and interact with each other if the country breaks into several countries. He stated that Nigeria cannot solve her own problems in disunity because a house divided against itself cannot stand.

    The former President, therefore, commended all socio-cultural groups present at the meeting, describing their agreement to come together as a good sign.

    “With what I have seen, read and heard from the rapprochement that you are forging together, I see a ray of hope that Nigeria can be saved from disintegration.

    “If we are ready to live together in understanding, mutual respect and love with equity, justice, inclusiveness while engendering sense of belonging and unity of purpose and all hands on deck, we can deal with internal issues of terrorism, organised crimes, banditry, kidnapping, human trafficking, drug, money laundering and corruption.

    “We will then be able to deal successfully with any incoming attack of terrorism, organised crimes, etc; from outside,” the former president pointed out.

    On the National Assembly’s fresh constitutional review exercise, Obasanjo said: “That ray of hope was somewhat manifested in the last 10 days or so when the Northern Elderswell Forum and Yoruba Summit Group complemented each other in their separate press releases on the Senate’s idea of inviting submissions from Nigerian public for constitution amendment which had been regular money-gulping activity by every National Assembly session since 1999, a veritable source of waste without end.

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    “I believe one of our major problems in the past was that we did not dialogue enough, we talk at ourselves and selfishly keep old prejudices and biases. If we show understanding, give-and-take, love of one another and commitment and love of the country, we will do what is right and stand firmly together for the good of all.”

    He also spoke on the 2023 general elections.

    “Some people are obsessed with 2023, I believe that with death, destruction, debt, disease, deceit, disbelief, disenchantment, doubt and suspicion around, we need to see our way through to 2023 and beyond in some form of unity of purpose, reasonable security, shared values, true democratic practice, inclusiveness and shared society. That is why we are here. No constitution is even permanent; it is dynamic with time and experience,” he said.

    Idowu Sowunmi

  • UK Court Orders P&ID to Pay Interim Fine to Nigeria

    UK Court Orders P&ID to Pay Interim Fine to Nigeria

    A sitting Judge of of the High Court, Queens Bench Division in charge of the Administrative Court, Ross Cranston, has ordered P&ID to make a substantial interim payment within 21 days to cover legal costs the Federal Republic of Nigeria (FRN) incurred as part of the country’s recent successful application for the extension of time to challenge the arbitration award and procedural hearing.

    Though a case management conference to determine the full trial window is scheduled to take place after November 2020, the Special Assistant on Media and Public Relations in the Office of the Attorney-General and Minister of Justice and Attorney General of the Federation, Umar Jibrilu Gwandu, described the latest development as a crucial win.

    According to him, “This is another crucial win for Nigeria in our ongoing fight against the vulture-fund-backed P&ID. We are pleased that the English Courts have taken our fraud challenge seriously, and awarded us a substantial interim payment in respect of our successful application for an extension of time to challenge the award.

    “This is a significant blow for P&ID, who continue to attempt to delay the process.

    “To date, P&ID and its financial backer VR Capital have not produced a single document or credible witness to challenge FRN’s fraud evidence.

    “Instead, P&ID has continued to resort to disseminating misleading claims, while taking every step possible to delay or obstruct our investigations across multiple jurisdictions.

    “FRN remains firmly committed to overturning the injustice of the $10 billion award, and will not rest until we secure justice for the people of Nigeria – no matter how long it takes.

    “Investigations into GSPA are ongoing, and we are confident that more of the truth will be revealed over the coming months.”

    In a related development, the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN, has said FRN is not considering any possibility of negotiations with P&ID.

    Malami, in a statement by Gwandu, said: “There will be no negotiation or talk of settlement with P&ID or any related party by or on behalf of the Federal Government of Nigeria.

    “The recent judgment of the English Commercial Court confirmed our view
    that P&ID and its cohorts are fraudsters who have exploited our country. They will not benefit from their corrupt behaviour.

    “This is a classic case with overwhelming fraudulent and corrupt undertones. The Federal Government of Nigeria is not considering any possibility of negotiations with P&ID.

    “It is has not only fallen within the tall order exception referred to by the Hon. Attorney General in his interview with Arise TV yesterday, but lacks any legitimate foundation.

    “We will not and cannot negotiate arbitral awards where the basis and foundation rely on fraud, corruption, breach of processes and procedures.

    “The Government remains wholly committed to fighting this case to overturn the exorbitant award without paying a single naira of public money to these fraudsters.”

    Idowu Sowunmi