The federal government says Glencore, a British mining and trading group, is expected to pay Nigeria a $50 million penalty for bribery.
Lateef Fagbemi, the attorney-general of the federation and minister of justice, made the disclosure in Abuja on Friday during the ministerial sectoral update for the present administration.
He said the resolution was reached after the federal government entered a settlement agreement with the firm.
“The ministry on behalf of the Federal Republic of Nigeria on April 25, 2024, concluded negotiation of a settlement agreement with Glencore International A.G. wherein Glencore is expected to pay the sum of $50 million as penalty and compensation for certain activities in Nigeria,” he said.
THE GLENCORE TRAGEDY
In May 2022, the United States department of justice said Glencore, and its United Kingdom subsidiaries, entered into multiple agreements to purchase crude oil and refined petroleum products from the Nigerian National Petroleum Corporation (NNPC) through shady deals.
In Nigeria alone, the department said Glencore and its subsidiaries paid more than $52 million to the intermediaries, intending that those funds be used, at least in part, to pay bribes to Nigerian officials.
In the same month, Glencore agreed to pay about $1.5 billion in total to resolve investigations in the US, United Kingdom and Brazil — of which $1.06 billion was payable to agencies in the US and Brazil.
A London court, In November 2022, ordered Glencore to pay a $310.6 million (£276.4 million) penalty for seven bribery offences in relation to its oil operations in Africa.
Glencore had pleaded guilty to five counts of bribery in relation to a total of $26.9 million, which was paid “primarily to officials in state-owned oil companies” in Cameroon, Ivory Coast and Nigeria.
The company also admitted to two charges of failing to prevent bribery over payments of approximately $1 million to agents in Equatorial Guinea and South Sudan, to secure “valuable oil contracts”.
When Nigeria, in October 2022, tried to claim compensation from the British mining and trading group, a UK judge ruled that the nation did not have the right to be heard.
FAGBEMI: NIGERIA TO RECEIVE £2.1M FROM BAILIWICK OF JERSEY
Speaking further, Fagbemi said Nigeria is set to receive about £2.1 million in corruption proceeds from the Bailiwick of Jersey.
“The ministry achieved the following successes under its international asset recovery and management efforts,” he said.
“The asset sharing agreement between the Federal Republic of Nigeria and the Bailiwick of Jersey was signed in February 2024 for the return of £2,125,944 proceeds of corruption.”
Fagbemi said the proceeds have been approved by President Bola Tinubu to continue works on the Abuja-Kano road project.
[TheCable]
The Governor of Kano State, Alhaji Abba Kabir Yusuf, has ordered the immediate arrest of the deposed Emir of Kano, Aminu Ado Bayero.
The order was contained in a statement on Saturday by the Director General, Media and Publicity, Government House, Kano, Sanusi Tofa.
The governor said Bayero should be arrested for allegedly creating tension in the state.
The statement titled ‘Gov. Yusuf Orders Arrest of Deposed Emir of Kano Aminu Ado Bayero,’ read, “The Governor of Kano State, Alhaji Abba Kabir Yusuf, has ordered the immediate arrest of the former Emir of Kano, Aminu Ado Bayero, for creating tension in the state.
“The former Emir was smuggled into Kano city last night in an attempt to forcefully return to the palace two days after being deposed by the Governor.
“In a statement issued by Mr Sanusi Bature Dawakin Tofa, the spokesperson to the Governor, it was confirmed that the new Emir, Sanusi Lamido Sanusi, arrived at the palace in the company of the Governor, the Deputy Governor, the Speaker of the State Assembly, and other top government functionaries at about 1:00 a.m. on Saturday, 25th May 2024.
“As the Chief Security Officer of the state, His Excellency, the Executive Governor of Kano State, Alhaji Abba Kabir Yusuf, has directed the Commissioner of Police to arrest the deposed Emir with immediate effect for disturbing public peace and attempting to destroy the relative peace the state enjoys.”
Bayero, whose whereabouts had been unknown since he was deposed on Thursday returned to Kano on Saturday.
The state House of Assembly repealed the law that ex-Governor Abdullahi Ganduje had signed on December 5, 2019.
After signing the law, Ganduje split the emirate into five and appointed Emirs to each.
Upon signing the repealed Kano Emirates Council Law, Yusuf gave all the Emirs affected by the law 48 hours to vacate their palaces and hand them over to the Commissioner of Local Government and Chieftaincy Affairs.
He subsequently announced the reinstatement of Muhammadu Sanusi, whom Ganduje had deposed in 2020 as Emir of Kano.
The governor issued a reappointment letter to Sanusi on Friday, and Sanusi led Jumat prayers at the Government House, Kano.
In the early hours of Saturday, Ado Bayero returned to Kano into the waiting hands of a crowd of supporters, according to a video sighted by Daily Trust.
On Friday, Governor, Abba Yusuf reappointed Muhammadu Sanusi II as the 16th Emir of Kano.
Sanusi received his letter of reinstatement at the Government House in Kano.
The governor said, “By the powers conferred on me by the Kano Emirate Council Law of 1984 and 2024, and supported by the recommendation of the kingmakers, I have the singular pleasure of confirming the reappointment of Muhammadu Sanusi II as the Emir of Kano and the head of the Kano Emirate Council.”
Vice President Kashim Shettima has said the country would need about $10 billion yearly to achieve energy transition by 2060, which amounts to $360 billion.
Shettima stated this yesterday at an energy transition symposium organized by the Development Agenda Magazine, in Abuja.
He said before then, the country must maximise petroleum resources in the short term to provide the base-load energy that would turbocharge the economy.
Represented by the Special Adviser to the President on Power and Infrastructure, Sadiq Wanka, he said: “But full implementation of the Nigeria Energy Transition would not be easy.
“It requires concerted effort locally and international collaboration to source financing and to prepare the Nigerian workforce for a Net-Zero economy and to have a truly just energy transition.
“If we take the issue of financing alone , funding the energy transition requires investments of over $10 billion per year up to 2060.
“With 45% of Nigerians lacking access to electricity, and GDP per capita that is half that in Egypt and a third of that in South Africa, the urgency of, improving the economic condition of Nigerians is clear, But there are critical environmental/considerations which if not adequately managed would actually hamper our ability to change the lives of millions of our people for the better.
“Majority of this money would necessarily come from the private sector including through initiatives to access high -integrity carbon markets.
“But we are up to the challenge. The administration of President Ahmed Tinubu is willing to take the difficult decisions and the rich resource base and depth of human capital in our dear country will ensure our success.”
The Vice President also, noted that the two-pronged strategy to pursue renewables alongside oil and gas investments has yielded notable results that support the overall energy transition, like the “Climate Change Act signed in 2021 seeks to mainstream climate action into national plans and programmes.
“A renewed push towards hydroelectric power seeks to tap into over 14,000MW of near- term hydropower potential.
“The 700MW Zungeru Hydropower plant just came online in 2024. The national regulator has also mandated electricity distribution licensees to procure a certain percentage of their power from renewables.
“The Electricity Act 2023 which Mr. President signed, strongly supports the transition to a more renewable energy mix.”
Also, Governor Uba Sani of Kaduna State, said his state has adopted what he called “unique approaches of placing people in the centre of its development plan.”
Represented by the Managing Director of Kaduna Power Supply Company (KAPSCO), Idris Aminu Idris, Uba said: “The Kaduna Solar for Health programme began with the goal of improving access to healthcare by delivering sustainable, uninterrupted power supply to Primary Healthcare Centers (PHC) and Maternity Health Clinics across all Local Government Areas (LGA) in Kaduna State.”
According to him, “the scope of the project expanded to include rural isolated General Hospitals across 255 wards in Kaduna State.
“The objectives of the Kaduna Solar for Health program are to increase access to healthcare; to ensure 1 hospital in every ward and LGA has access to reliable power 24hrs/day; to eradicate petrol and diesel generators which cause noise and pollute the environment with toxic waste such as CO, that can lead to serious Environmental and Health issues.”
Editor in Chief of Development Agenda Magazine, Paddy Ezeala, said the event was organized for chart a way on how to achieve a seamless energy transition.
Ezeala said: “Speakers at today’s event are speaking on how the Energy Transition movement is likely to affect Nigerians, especially those at the grassroots and more specifically those impacted by the extractive industry activities.
“These include those presently impacted by fossil fuels extraction or those affected by extraction of minerals powering so called clean energy, such as lithium, cobalt etc.”
President Bola Tinubu, in a meeting with Yoruba Leaders of Thought, pledged his commitment to meeting Nigerians’ expectations, emphasizing that Nigeria’s bleeding has ceased.
Expressing concern over the state of local government administration, Tinubu advocated for a more efficient system that promotes community development within Nigeria’s federal structure.
Acknowledging the challenges faced during his administration’s first year, Tinubu affirmed, “We took over, and we have stopped the bleeding. I can say categorically now that Nigeria is no longer bleeding.”
“It has been challenging. It has been fulfilling as well. We took over, and we stopped the bleeding. I can say categorically now that Nigeria is no longer bleeding. And it will not bleed to death but will now move to prosperity. That is the promise I made to you all, and it is also the charge you gave me.”
He also called for deepening governance and reinforcing leadership across all levels of government and institutions. He added that his administration is committed to encouraging fiscal federalism and strengthening the system to enhance inclusion and equity for all Nigerians.
“Local government administration is being suffocated. People are looking for opportunities to ensure that they survive and become more purposeful through community development programmes. I will not support any effort to make the local government a unitary system by handing all core responsibilities to the federal government. That is criminal when there is a federal system.
“We have a federal system. There are state and federal administrations. We have two components. States must do whatever is in the best interest of their administration process. There is no one-size-fits-all. That is what we should do by looking at the revenue formula, and we must be consistent with federalism: fiscal federalism. You should expect those things from me, not the knee-jerk reactions ahead of elections.
“I can tell you that Nigeria is no longer printing paper money and deceiving itself that it has a base for survival. Nigeria went through terrible labour pains, but we have seen the baby coming out alive,” the President concluded.
Honourable Bayo Aina, speaking on behalf of the Yoruba Leaders of Thought, commended Tinubu’s investment in national infrastructure, praising his dedication to responsible governance across sectors.
The 2023 presidential candidate of the New Nigeria People’s Party, NNPP and former governor of Kano State, Senator Rabi’u Musa Kwankwaso said he didn’t give any directive on reinstatement of HRH Muhammadu Sanusi II as Emir of Kano.
Kwankwaso said he also received the news of the reinstatement of the Emir like every other persons.
The former Minister of Defence stated this in an interview monitored on the BBC Hausa service on Friday.
In his word, “what you saw is what I also saw but I will go to Kano very soon and I will speak with some of the assembly members, especially the speaker, and the Governor on what is happening.
When asked that to many people, a thing of this nature cannot happen without his knowledge as a leader of the party, Kwankwaso said, “Rabiu Kwankwaso has burnt his hands over dictating what to do. We are still with the Governor working together.
“It’s just a matter of offering advice and if you are not asked to, you keep quiet so long things are going right we just pray and hope that they succeed.
“When I said we will revisit the case, I didn’t say the direction to follow. I just said it will be reviewed… When I go there, I will hear what happened and I am sure they will tell me whatever happened and whatever they tell me, we just pray for them. I heard the Assembly members have repealed the law.
“What we were telling them was they should go and investigate whether what happened was done out of goodwill or not. What happened appears to be a vendetta or cheating. It’s just a matter of did Ganduje do right or wrong? It’s not about going against him.
“For those that are looking at it from the perspective of whether it’s going to be tenure-based are somehow right but who started it? When I came back as Governor in 2011;
“…everybody knew that late Emir of Kano, Ado Bayero, was not supporting us, he was supporting Shekarau but when we got into power we never thought of dethroning him.
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“This is why we are telling people that everybody should maintain their position,” Kwankwaso however stated.
The 16th Emir of Kano, Muhammadu Sanusi II, has bemoaned the desecration of traditional institutions in the northern part of the country.
He stated that the system that protects the monarchs and traditional institutions in the region has been destroyed.
Sanusi made this known while delivering his appreciation speech after receiving his letter of appointment from the Kano State Governor, Abba Yusuf, at the Government House in Kano on Friday.
The monarch, who decried the needless division of emirates in some northern States, hailed the Kano State house of assembly for abrogating the law used to dethrone him and also used to create the now abolished Emirates in the State.
“In the northern part of this country, we have seen it in different states how politicians balkanised emirates, with one Emir becoming 20, some 19. In states of northern Nigeria, there are Local Governments with two or three first-class Emirs all because the system has been destroyed.
“This thing that has been brought to Kano, had it been allowed, one day we will wake up with the Emir of Kumbotso, Bichi, Fagge and 44 Emirs. So what the government and the assembly did is a rescue mission.”
Presenting the appointment letter to Sanusi, the governor said, “By the powers conferred on me by the Kano Emirate Council Law of 1984 and 2024, and supported by the recommendation of the kingmakers;
“I have the singular pleasure of confirming the reappointment of Muhammadu Sanusi II as the Emir of Kano and the head of the Kano Emirate Council.”
Yusuf noted that Sanusi’s reappointment was “based on his competence, credibility and popularity,” urging the new Kano Emir “to be guided by the principles of Islamic teachings and to use his position to unite the emirate, fostering harmony among the Islamic sects in the state.”
Former National Secretary of the ruling All Progressives Congress (APC), Senator Iyiola Omisore has revealed how he delivered Asiwaju Bola Tinubu as the party’s flag bearer in 2022.
Omisore made this revelation in an interview with Channels Television on Friday.
The former Osun State deputy governor confirmed that the then APC National Chairman, Abdullahi Adamu, wanted the North to retain the Presidency after the eight years of President Muhammadu Buhari, who is from the North-West.
He said, “In politics, everybody has their mindsets, we came from different (geopolitical) zones to the NWC (National Working Committee) that time, representing differing different interests.
“I was the most senior member of the party in the South-West and my mandate was to deliver the South-West for Presidency. Somebody from South-South too, his own mandate was to deliver South for the Presidency, I want to assume so.
“So, my own way was to get to my destination which I have gotten to today. The way and manner I did my journey is between me and God.
“I can’t castigate anybody who tried to be smart but if you want to be smart and I outsmarted you, to God be the glory. But the point is that my mission was to deliver the South-West Presidency which we are today.”
Omisore said though Adamu backed a different aspirant, the NWC was able to present a convention “where democracy took place and democracy was respected.”
“We voted, everybody had a choice and it was transparent. And the moment there is a transparent primary, there won’t be any noise; it is only when people feel cheated that they go to court.”
The former APC National Secretary said everything that happened in the buildup to the APC presidential primary was “all political”.
He said “whatever we did then was for that time. The party had moved on to consolidating on democratic gains for the benefit of Nigerians.
Recall that in the buildup to the APC presidential primary in June 2022, Adamu announced then Senate President, Ahmad Lawan, as the party’s “consensus candidate.”
But the announcement was strongly rejected by a league of northern governors who preferred Tinubu.
Despite the twists, Tinubu won the keenly contested primary, trouncing strong contenders like Lawan, ex-Transport Minister Rotimi Amaechi, former Vice President Yemi Osinbajo, amongst others.
The former Lagos governor would later defeat opposition figures like Atiku Abubakar of the Peoples Democratic Party (PDP) and Peter Obi of the Labour Party (LP) at the February 2023 general election to clinch the number one spot at Aso Villa.
No fewer than 200 officials of the Central Bank of Nigeria were on Friday relieved of their duties.
This is an addition to the long list of ongoing disengagements in the apex bank.
This adds to the list of 117 staff sacked by the bank between March 15 and April 11, 2024.
The termination of appointments affects directors, deputy directors, assistant directors, principal managers, senior managers and lower-ranking staff.
Impeccable sources who are staff of the bank confirmed the sack to our correspondent on Friday, saying that those sacked are not less than 200.
They revealed that affected persons include older directors who were not affected by the last round of retrenchment.
One of the sources in a 20-second call with our correspondent simply stated, “It is true and confirmed.”
The staff member who could not disclose further details for fear of victimisation added that the move has caused apprehension among staff of every cadre as the management has not specified any criteria for the decisions.
Another source confirmed the information, indicating that additional dismissals are expected in the months ahead, spread out across staggered phases.
The official said, “It is real and is even more than 200 officials but the actual number is unconfirmed yet. The sack is coming in staggered phases and that is why we can’t confirm the number yet. But it is not less than 200.
“The sacked persons include directors, and other cadres but the ones that are easily known are the directors. Some of the batch of old directors that were not affected during the last round of sacks are now affected.”
The sack letter obtained by our correspondent and issued by the Human Resources Department on May 24, 2024, said the policy was to reorganise the organisation for effective operations.
The letter, lacking a signature read, “The new strategic direction of the bank has been widely publicised. In line with our new mission and vision, the bank is currently undergoing a significant organisational and human capital restructuring process.
“As a result of this review, I have been directed to notify you that your services will not be required with effect from Friday, 24th May 2024.
“Your final entitlements will be calculated and paid to you in due course. Thank you”
In February, at least 1,500 members of staff of the apex bank of Nigeria were redeployed from the headquarters located at Central Area to its Lagos office.
At the time, the CBN said the action was necessitated by several factors, including the need to align the bank’s structure with its functions and objectives and redistribute skills to ensure a more even geographical spread of talent.
It added that it was also in compliance with building regulations, as indicated by repeated warnings from the facility manager, and the findings and recommendations of the Committee on Decongestion of the CBN Head Office.
A memo issued to staff read, “This is to notify all staff members at the CBN Head Office that we have initiated a decongestion action plan designed to optimise the operational environment of the Bank.
“This initiative aims to ensure compliance with building safety standards and enhance the efficient utilisation of our office space”.
Efforts to get the reaction of the bank’s Director of Corporate Communication, Hakama Sidi Ali, was not successful as she did not pick up her call or respond to the text messages to her line.
Electricity Tariff Will Come Down Same Way With SIM Cards, Mobile Phones — Adelabu Tells Nigerians
AFOLABI
The Minister of Power, Adebayo Adelabu, has claimed that the hike in electricity tariff is temporary
The minister said he is optimistic about the reduction of electricity tariff.
Adelabu disclosed this on Friday during the sectoral briefing by ministers in Abuja.
Recall that on April 3, the Nigerian Electricity Regulatory Commission, NERC, announced a 240 per cent electricity tariff hike for band A customers who receive a 20-24 hour power supply.
After the Nigeria Labour Congress (NUC) and the Trade Union Congress (TUC) called for reversal, the Commission slashed the tariff by N18.
Unsatisfied with the development, the Organised Labour threatened to go on strike.
Meanwhile, Adelabu said the electricity hike for Band A customers was a temporal hardship pending an increase in power sector output.
The minister stated that the tariff is similar to the initial price surge observed in the telecommunication sector, which eventually saw prices decrease over time.
“The electricity tariff might look expensive at the moment. But I’m optimistic that these tariffs will go down. We know how much we were buying SIM cards when the telcos just came. We know how much we were buying telephones.
“But gradually, as we scale up in generation, transmission and distribution, these prices will also decrease. It’s a temporary hardship leading to a permanent gain,” Adelabu said.
In April, SaharaReporters reported how the Socio-Economic Rights and Accountability Project said it was suing President Bola Tinubu's administration over the arbitrary increase in electricity tariff.
SaharaReporters earlier reported that the Nigerian government had approved N225 ($0.15) per kilowatt-hour tariff increment for Band A electricity consumers in the country.
Band A are those who enjoy electricity supply for 20 hours per day.
The Vice Chairman of the Nigerian Electricity Regulatory Commission (NERC), Musliu Oseni, who made this known at a press briefing in Abuja on Wednesday, had said the increase would see the customers paying N225 instead of the current N66 kilowatt per hour.
Vice-President Kashim Shettima says over $25 billion is used to import petroleum products into the country every year.
Shettima spoke on Thursday at the Vanguard Economic Discourse themed ‘Reforms in the Era of Global Economic Uncertainties: Whither Nigeria’.
The vice-president, who was represented by Tope Fasua, special adviser on economic affairs, assured that this would change in the future.
The development comes five days after Aliko Dangote, Africa’s richest person, said Nigeria will no longer need to import petrol by June.
Speaking at the event, Shettima said the country will stop importing the product due to the backing of the government and the revamping of state-owned refineries.
“With the support our government is lending to our private sector-led oil refineries and rejuvenation of some of the state-owned facilities. The $25 billion we spend yearly importing petroleum and other refined products will soon be a thing of the past allowing the naira a much-deserved breath,” he said.
Shettima said the country will not hesitate to backtrack and review policies if it would impose undue hardship on Nigerians as it “has been seen over time”.
“So this administration is not out to make the life of Nigerians tougher, but to make the Nigerian economy sustainable, and the lives of our people more enjoyable,” Shettima said.
“Rest assured, ladies and gentlemen, that the next few years will be full of positive achievements. They include improvements in the standards of living, higher productivity, food security, bumper harvests and remarkable achievement with the guidance and grace of Almighty God.”
Speaking further, he said President Bola Tinubu has been able to secure more than $20 billion in potential investments into the country, “including $14 billion from India, $250 million from the Netherlands, and commitments of $500 million for lithium development in Nasarawa state”.
Shettima said the country has secured another $500 million from Germany into renewables, adding that the Siemens power sector projects will positively impact energy sufficiency in due course.
More...
The Attorney-General of the Federation ( AGF), Lateef Fagbemi, SAN says the offence of the detained leader of the proscribed Indigenous People of Biafra (IPOB) Nnamdi Kanu is a difficult one and can only the court is competent to determine the charge.
Fagbemi said this while responding to questions at the Sectoral Ministerial Briefing on the first anniversary of the President Bola Tinubu administration on Friday in Abuja.
He said that since the matter was already in court, it should be left to the law to have its way.
The AGF pointed out that there was a remarkable difference between Kanu’s case and that of the convener of #RevolutionNow protest, Omoyele Sowore.
He said, “Sowore and Kanu are not the same, when it comes to the first one I didn’t have difficulty to say go, but I have difficulty with the second one”.
While pointing out that Kanu is being held in accordance with the Constitution, he observed that, “the matter is still in court, let’s wait for the court”.
It will be recalled that Sowore was arrested in 2019 and prosecuted for allegedly calling for the forceful take over of the administration of former President Muhammadu Buhari.
However, the federal government through the office of the AGF in February this year filed a notice of discontinuation of the case.
[THE WHISTLER]
A Federal High Court sitting in Ikoyi, Lagos, has ordered the interim forfeiture of N830,875,611 $4,719,054, and several properties linked to the former governor of the Central Bank of Nigeria, Godwin Emefiele.
The court granted the order on Friday after Justice Yellim Bogoro considered an ex-parte motion filed by Bilkisu Buhari and C.C. Chineye on half of the Economic and Financial Crimes Commission (EFCC).
The EFCC in its motion said the funds are held in various banks linked to Omoile Anita Joy, Deep Blue Energy Service Limited, Exactquote Bureau De Change Ltd, Lipam Investment Services Limited, Tatler Services Limited, Rosajul Global Resources Ltd, and TIL Communication Nigeria Ltd.
According to the court filing, Emefiele’s properties forfeited to the federal government include; 94 Units of 11 Storey building under Construction at 2, Otunba Elegushi 2nd Avenue (Formerly Club) Road, iKoyi, Lagos; and AM Plaza, 11 Story Office Space, Situate on 1E, Otunba Adedoyin Crescent, Lekki Peninsula Scheme 1, Lagos.
Others are Imore Industrial Park 1, Esa Street, Imoore Land purchased with (Deep Bive Industrial Town, Oriade LCDA, Amuwo Odofin LGA, Lagos; Mitrewood and Tatler Warehouse (Furniture Plant at Bogije) near Elemoro Lagos, Owolomi Village, Ibeju-Lekki LGA, Lagos.
Also, 2 properties purchased from Chevron Nigeria, Closed PFA Fund, Block B.Lot.Twin Completed Property Lakes Estate. Lekki, Lagos has been seized.
The court also ordered the EFCC to seize One plot measuring 1,038.069 sqm, at Lekki Foreshore Estate Scheme, Block A, Plot 4, Foreshore Estate, Eti-Osa, LGA; Estate located at 100, Cottonwood Coppel Texas Drive, Coppel, Texas, US, owned by Lipam investment Services; a Land at 1, Bunmi Owulude Street, (Maruwa), Lekki Phase 1, Lagos and a Property Situate on 8, Bayo Kuku Road, lkoyi Lagos.
The EFCC relied on Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, Section 44(2)(b) of the Constitution while seeking for an interim forfeiture.
In the motion before the court, the anti-graft agency specifically requested “an interim order forfeiting to the Federal Government of Nigeria the funds held in the accounts listed in Schedule ‘A,’ which are reasonably suspected to be proceeds of unlawful activities.”
“An Interim order forfeiting to the Federal Government of Nigeria Properties provided in 2nd Schedule ‘B’ which are proceeds of unlawful activities.
“An Order directing the publication In any National Newspaper, the interim order under reliefs 1-2 above, for anyone who Is interested in the properties and funds sought to be forfeited to appear before this Honourable Court to show cause within 14 days why the final order of forfeiture of the said properties and funds should not be made in favour of the Federal Government of Nigeria.”
After listening to the submission from the EFCC’s counsel, Justice Bogoro held, “I have listened to the submission of the applicant’s counsel and also perused the motion just moved, together with the affidavit in support.”
The case was, however, adjourned to July 2, 2024, for the motion for final forfeiture.
Emefiele is standing trial in multiple courts over abuse of office, alleged $4.5b and N2.8 billion alleged fraud which the EFCC said he allegedly perpetrated while in office.
[THE WHISTLER]
The Minister of Solid Minerals Dele Alake, on Thursday said that previous administrations have failed to effectively utilize the revenues from the oil sector.
Alake said this at the ministerial briefing in Abuja while unveiling his performance in the last ten months.
He said, “Nigeria practiced a monocultural economy, which means Nigeria has solely depended on oil. In my own estimation, Nigeria, over the decades, failed woefully to efficiently utilize the revenue that accrued to us from the oil sector.
“And how did we fail to utilize that? We failed to utilize the humongous amount of petrodollars that came into the coffers of this country. We did not utilize this money to sufficiently create a very solid structural economy in other sectors.
“And one of the most critical sectors that we’ve failed to address over the decades is the solid mineral and agricultural sector”.
Alake said he was mandated by the president to restructure the ministry which had been redundant to investment, revenue and growth. This he said, prompted the total revocation of over 2,500 licenses.
Explaining further the minister said, “On the resumption of the president into office, there has been a major plank of the renewed hope agenda which is contingent on the diversification of the economy, away from oil.
“And towards this end, we discovered on assumption of office that we had several people, Nigerians or non-Nigerians, holding titles and failed to remit the normal civic obligations to the government, like paying their taxes, paying their fees, even renewal annual fees, that are as little as N200,000. Whereas, these people were making away with billions from the Nigerian economy.
“We are sanitizing the operating environment of the solid mineral sector, to enable it, to assume its pride of place, in contributing significantly to the GDP of this country.”
The Imo State Governorship Election Petitions Tribunal on Friday upheld the election of Hope Uzodimma of the All Progressives Congress, APC, as Imo State governor.
The tribunal, which gave its ruling in Abuja, also dismissed the petition of the Labour Party, LP, and its governorship candidate, Athan Achonu.
In a unanimous decision delivered by Justice Oluyemi Akintan-Osadebay, the three-man panel of the tribunal held that Uzodimma’s election as Imo State governor complied substantially with the provisions of the Electoral Act.
The tribunal further held that the Labour Party in its petition failed to prove the allegation of over-voting and non-compliance to the Electoral Act.
Details later.