All Posts in "Day: February 6, 2024"

Supreme Court Verdict Invalidates Oba Elegushi’s Title On Inland Waterways

The Supreme Court of Nigeria in a land mark judgment delivered in the case of National Inland Waterways Authority & Others Versus LASWA, Gov Of Lagos State & Attorney General of Lagos State in Suit No: SC.17/2018 on the 5th day of January 2024 by JOHN INYANG OKORO JSC leading other 4 Supreme Court Justices declared null and void Lagos State Waterways Authority Law, 2008.

Since the title of Oba Saheed Elegushi is based on the Title issued by the Lagos State Government, it follows also that the monarch’s title has also collapsed.

The above statement is based on both Law and Facts, says Olajide Ajana, a Lagos based Legal Practitioner and Real Estate Advisor.

“The Supreme Court Judgment delivered on 5th January 2024, led by Justice Okoro at page 37 stated; “I have read through both National Inland Waterways Authority Act 2004 and the Lagos State waterways authority law 2008. I have no doubt whatsoever that both statutes have identical provisions.

“Section 22 of the LASWA law defines under the control of the first respondent to include all waterways, Rivers, Creeks, lakes, tiled land and lagoons within the boundaries of Lagos State” Similar to definition of “Inland waterways” in Section 29 of national inland waterways authority act which includes all waterways. Rivers,Creeks, lakes, tiled land, lagoons below the water based line.

“The Supreme Court further held : both enactment must not and cannot subsit side by side. The National Inland Waterways Authority Act being a Federal law must prevail whereas the identical law enacted by the Lagos State act of Assembly must be and is hereby declared null and void.

“The consequence and implication of the above pronouncements by the Supreme Court which is the highest and final Court in Nigeria is that all persons including Kabiyesi Oba Saheed Elegushi who derived title from the Lagos State Government in respect of the Inland water ways are bound and affected by the Judgement of the Supreme Court with no exception.

“Once the Title and the Claims of Lagos State has failed, the Title of Oba Saheed Elegushi and others to the area being sand filled at Orange Island axis of Lagos State has also failed, being derived from the Lagos State Government.

“The press Statement recently issued by Oba Saheed Elegushi to the effect that he is not a party to the case of NIWA VS LAGOS STATE GOVERNMENT and therefore attempting to trivialize impact of the judgement as circulating fake news is very unfortunate.

“The previous Press Statements issued with regard to the recent Supreme Court Decision to enlighten the general public and investors are based on Law and facts

“The General public and investors should be properly guided and understand that the Supreme Court is the highest court in Nigeria and their decisions are final and cannot be appealed.

“Also when the root Title to a property is affected, it affects everyone claiming from the same root, which is the case with Oba Saheed Elegushi’s Title which was derived from Lagos State Government.”

Olajide Ajana is a Lagos based Legal Practitioner and Real Estate Advisor with Office in Victoria Island Lagos.
oajana@yahoo.com

admin by — February 6, 2024 in Law/Human Rights 0
How CBN Uncovered $2.4bn Invalid Forex Claims From $7bn Backlog — Cardoso

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has disclosed that an audit uncovered invalid claims of up to $2.4billion out of the $7billion foreign exchange backlogs in the country.

He disclosed this during an interview with Arise News Channel aired on Monday.

He noted that the apex bank would only pay valid transactions, which amounted to $4.6 billion,disclosing that about $2.3 billion has been settled and the balance would be paid very soon.

“We had Deloitte audit the FX backlog claims and we discovered that of the $7billion, $2.4 billion had issues and had no business being there,” he said.

He explained that based on the request documents, it was discovered some of the untenable claims were from entities that did not qualify, adding that some of them were non-existent and wanted to game the system.

“We are not paying [these invalid claims] because there were whole loads of infractions,” he said during the interview.

He said so far, the apex bank had settled $2.3 billion of the valid $4.6 billion FX backlogs, leaving around $2.2billion left to be cleared to the appropriate sectors.

“What remains is about $2.2 billion claims yet to the cleared,” he stated, revealing that there was an end in sight to the FX backlogs issue, adding that the Central Bank would clear the balances soon, so it can tackle other pressing issues.

“That will be done shortly. We will clear all that very shortly and we will move on to the next line of action,” the CBN chief assured.

He reiterated that the Naira remained undervalued due to the speculative nature of the FX market, adding that this would be resolved in due course.

He noted that the CBN was taking the best approach to bring other informal players into the official market to boost liquidity, noting that this spurred recent moves to bring international money transfer operators (IMTOs) into the space.

“We believe it is positive to bring them into the formal market, to be players in the space,” Cardoso submitted, saying that the official market and Bureau de Change (BDC) rates were narrowing rapidly.

“We are going to see a major major shift. There are new rules that will help the volatility and fix market transparency,” he added.

admin by — February 6, 2024 in Banking&Finance 0
British Monarch,King Charles III Diagnosed With Cancer

Mohammed Shosanya

British monarch, King Charles III, has been diagnosed with a form of cancer, but it was said not to be prostate.

The cancer was discovered during his recent treatment for an enlarged prostate,according to a statement on Monday by Buckingham Palace.

The type of cancer troubling the king was not made public and no further details were being shared on the stage of cancer or a prognosis.

The monarch is said to have begun “regular treatments” on Monday.

Buckingham Palace said the King “remains wholly positive about his treatment and looks forward to returning to full public duty as soon as possible.”

The King informed both his sons personally about his diagnosis and Prince William was said to be in regular contact with his father.

The second son, Prince Harry, spoke to his father and will be travelling to the UK to see him in the coming days. Harry lives in the United States with his family.

admin by — February 6, 2024 in News 0
CESEL-CONSERTO JV Delivers Clean Electricity To 1,200 Households In Ife

Mohammed Shosanya

The CESEL-Conserto Joint Venture (JV), through the Nigerian Electrification Project (NEP) of the Rural Electrification Agency of Nigeria, has delivered clean electricity to 1200 households in Ife South Local Government Area of Osun State.

The development comes after the JV commissioned four Solar Hybrid Mini-Grid projects in the Osi, Arajoshua, Alutierin, and Olomouja communities of Osun State,a statement said.

The ceremony was honoured by the presence of His Imperial Majesty, the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi (Ọjájá II), along with other Royal Fathers including HRM Oba Solomon Adenipekun Ademakinwa, Oloosi of Osi; HRM Oba Dr Ademilokun, the Olu of Olomu; HRM Oba Oladepo Towobola, Lerinyo of Alutierin; and Princess Adeola Ademakinwa, the Representative and Community Leader of Arajoshua who expressed their delight at the arrival of electricity in their respective communities after decades without power.

They acknowledged the CESEL-Conserto JV’s contribution as a pivotal step in their communities’ advancement.

Representing the adopted communities and alongside other Royal Fathers, His Royal Majesty Oba Oladepo Towobola, the Lerinyan of Alutierin in Ife South LGA, expressed gratitude, stating, “This endeavor marks the dawn of development for us. We extend our heartfelt appreciation for not overlooking our needs. Without the provision of electricity through the solar-grid, it would have been unlikely for any organization to consider constructing essential amenities in our community. With this initiative, we now have access to a multitude of amenities that significantly enhance our quality of life.”

The Executive Governor of Osun State, Reverend Bunmi Jenyo,who was represented by the Commissioner for Commerce and Industry, expressed his appreciation.

She said:”The initiation of a project of this magnitude to address the energy needs of our communities is indeed heartening. The commissioning of this mini grid serves as a beacon of hope, promising accessible clean energy to our rural areas and empowering citizens irrespective of their socioeconomic backgrounds. This initiative will significantly contribute to the social and economic prosperity of the communities it serves.”

Mr. Olanrewaju Daramola, Chairman of the CESEL-Conserto JV, added, “We are proud to contribute to this transformative project that brings clean and reliable power to these communities. The commissioning of these Solar Hybrid Mini-Grid projects reflects our dedication to delivering sustainable energy solutions that support economic growth.

“This project will stimulate economic activities among small business owners and farmers, thereby fostering a ripple effect on the local economy. This partnership exemplifies the collaborative spirit we aim to foster across various sectors of our nation.’’

admin by — February 6, 2024 in Power 0
NNPC Ltd, US Govt., Deloitte Move To Reduce Greenhouse Gas Emission Reduction From OML 34

Mohammed Shosanya

The Nigerian National Petroleum Company Limited (NNPC Ltd) is working in partnership with the United States Department of States and international management consultancy firm, Deloitte, to meet its net-zero carbon goals by embarking on a project aimed at reducing the emission of methane and other greenhouse gases from its upstream operations.

Olufemi Soneye,Chief Corporate Communications Officer,NNPC Ltd conveyed this in a statement on Monday.

The project which is at its conceptual stage,according to the statement,was the focus of a three-day Technical Assistance on Oil & Gas Sector Global Methane Abatement and Decarbonisation Workshop which kicked off at the PTDF Tower, in Abuja, on Monday.

The workshop, which was a follow-up on an earlier one held in July 2023, was, amongst other things, aimed at defining the critical success elements of the project.

Some of the critical elements of the project tabled at the workshop include: determining the scope of the project, establishing a baseline for methane and carbon emissions from the selected operation sites, collecting relevant data on the selected sites and helping the Deloitte consultants to understand the operations and expectations of NNPC Ltd.

Participants at the workshop unanimously selected OML 34 located onshore in Western Niger Delta which has the Utorogu and Ughelli Fields as the operation site for the pilot stage of the project.

They were drawn from relevant NNPC Ltd.’s subsidiaries and Departments such as Exploration & Production; New Energy; Gas Infrastructure; Health, Safety, and Environment, as well as Federal Government agencies like the National Council on Climate Change.

admin by — February 6, 2024 in Oil&Gas 0
Edo 2024:Anamero Submits APC Governorship Nomination,Promises Good Governance

Mohammed Shosanya

One of the frontline candidates in the 2024 Edo Governorship election, Hon. Anamero Sunday Dekere, has submitted his nomination and expression of interest form at the headquarters of the All Progressives Congress.

He said,this step underscores the critical importance of ensuring the selection of a candidate who garners widespread acceptance across all three senatorial districts of Edo State.

He advocated the need for unity within the APC, which he says will reflect a deep commitment to fostering cohesion and solidarity as they venture into the electoral arena.

His supporters said Anamero’s submission of the nomination forms signals his unwavering determination to lead Edo back to the APC fold if nominated.

Hon. Anamero reiterates his confidence in his ability to secure victory for the party and is poised to engage with constituents across Edo State following the primaries.

With a clear vision for the state’s future and a steadfast commitment to service, Hon. Anamero embarks on this journey with optimism, ready to champion the aspirations of the people and steer Edo towards prosperity.

admin by — February 6, 2024 in Politics 0
NCAA Warns Domestic Airline Operators Over Poor Service

Mohammed Shosanya

The Acting Director General of the Nigeria Civil Aviation Authority (NCAA),Chris Najomo,has read riot act to domestic airline operators, expressing displeasure at the alarming reports of incessant delays, flight disruptions, and schedule changes without adequate notice to passengers.

He reiterated the need for airlines to improve their services as the Honourable Minister of Aviation and Aerospace Development, Mr. Festus Keyamo (SAN) is determined to enforce his 5 point agenda as mandated by the president.

He stated that the current record of flight disruptions, poor customer experience and poor handling of passengers is unacceptable and must be improved upon.

He said that airlines must rejig their flight scheduled to match their number of serviceable aircraft and that airlines are all aware of the airports which have sunset operations.

He added:”Airlines must consider scheduling flights into sunset airports early in the day so as to minimize cancellations as a result of airport closure at sunset”

He emphasized that NCAA will ensure that airlines fulfil their obligations to passengers or face sanctions.

“Airlines must handle persons with reduced mobility properly, with dignity and without discrimination as airlines are mandated to provide facilities for the movement of Persons with reduced mobility and by virtue of the provisions of Nigeria Civil aviation regulations part 19, airlines are required to provide on their ticket portal a mandatory field for special needs assistance and require their agents to actively ask customers during ticket purchase if they will require assistance” he reiterated.

He maintained that “it is no longer business as usual as errant airlines will be sanctioned appropriately without fear or favor” noting that NCAA has stepped up its surveillance to monitor compliance with a view to fish out violators.

He reemphasized that the Authority will not relent in its commitment to ensuring pleasurable travel experience and comfort for air transport passengers. The Airlines present committed to work on all issues raised and make adjustments where necessary.

admin by — February 6, 2024 in Aviation 0
I Didn’t Advocate Removal Of Electricity Subsidy-Adelabu

Mohammed Shosanya

Minister of Power, Chief Adebayo Adelabu,says he didn’t advocate removal of electricity subsidy in the country.

He clarified that what he he said was that if the government was subsidizing power, it should be backed up with payment.

He conveyed the clarification in a statement signed by Bolaji Tunji, his Special Adviser, Strategic Communication and Media Relations,and made available to Premium News on Monday.

The statement quoted,“There is a need to correct the erroneous impression going around quoting the Minister of Power, Adebayo Adelabu as advocating removal of subsidy in the Power sector.

“For clarification, the Minister of Power embarked on an inspection visit to power facilities across the country to get a first hand report on power facilities in the country, the inspection visit took him to Kanji Power Plant which will soon be adding about 980 megawatts to the national grid from the present generation of 760 megawatts.

“The Minister has also visited Ayede Sub-Station and some other power facilities in Oyo State including a visit to the Ibadan Distribution Company (IBEDC) where he read the riot act that no distribution company should compel communities to buy transformers or electricity poles as it should be the responsibility of the distribution companies to do so.

“During his visit to the power facilities to Olorunshogo Power Plant in Papalanto and Omotosho, he discovered certain challenges affecting the smooth operation of the Power Plants. Some of the issues are related to liquidity problem in the sector which has adversely affected low gas supply to the generating companies leading to drop in power generation in the country.

“The Minister said the country should either focus on whether we want power to be a social service or be fully commercialized. If it is a social service with government fully subsidizing, then NBET should pay what is being owed to enable payment to gas suppliers through the generating companies”.

The statement also said,the Minister met with top management teams of power Generating companies (GENCOs) and Distribution companies (DISCOs) in a bid to find lasting solution to blackout in some parts of the country.

He was quoted as saying that there was a noticeable improvement in power supply during the yuletide period but the situation changed in the new year with poor supply leading to blackouts across the country.

The Minister said his investigation revealed that the poor supply was due to low gas supply to GENCOs.

“It was based on the need to understand the challenges first hand that led to inspection visits to power facilities in Olorunshogo in Ogun State and Omotosho in Ondo State. The problem is traceable to low supply of gas and we need to resolve this as quickly as possible”, he said.

The meeting also discussed issues of indebtedness to GENCOs by the Nigeria Bulk Electricity Trading Company (NBET).

“We are aware that the sector has liquidity challenge, but we need to have a minimum threshold, we are working on revalidating the debt and determining a fair resolution”.

Adelabu spoke further on the need by GENCOs to enter a contractual arrangement with gas suppliers to ensure steady supply of gas to generating companies.

“We know that there are certain concessions expected of government before this could be achieved and we are willing to work on this to stabilize the power sector”, he assured.

To resolve the gas impasse and the liquidity issue, the Minister assured that a committee would be set up comprising all stakeholders to come up with appropriate recommendations.

“To tackle the gas supply and liquidity challenges, I’ve decided to form a committee involving all stakeholders. Together, we will work on recommendations to resolve these issues and ensure a more reliable and consistent power supply for our citizens.

A plan has also been established to initiate discussions with the Minister of State for Petroleum Resources regarding collaboration and to emphasize to the Ministry the importance of prioritizing gas to power.

“Our commitment is unwavering in addressing the challenges affecting power supply. We understand the impact on citizens, and our goal is to swiftly resolve the issues of gas supply, indebtedness, and overall sector stability. Your patience is appreciated as we work collaboratively towards a brighter, more reliable energy future for Nigeria”.

admin by — February 6, 2024 in Power 0
Love Of Christ Generation Church To Host 2025 AGM Of C&S Unification Church Of Nigeria

Mohammed Shosanya

Prophet Solomon Adegboyega Alao (Baba Olori) the Supreme Head of the Cherubim & Seraphim Unification Church of Nigeria has handed over the Unity Flag to Reverend Mother Esther Abimbola Ajayi, indicating that her Love of Christ Generation Church (LOC) C&S has been chosen to host the 2025 Annual Conference of the Cherubim and Seraphim (C&S) church.

This decision was reached with the Council of Elders as announced during the recent conference in Ugbonla, Ondo State,a statement said on Sunday.

Reverend Ajayi, the founder of LOC, expressed her excitement at hosting the conference during the presentation of the Unity Flag, recently.

The Annual General Conference of C&S Unification, the largest gathering of C&S leaders globally, provides an opportunity to review church activities and plan for the coming year. Dignitaries from various locations are expected at the opening ceremony.

The theme for the 2025 conference is “Marching Towards the New Glory.” Reverend Mother Abimbola, grateful for the opportunity, sees the occasion as building steps towards the realization of a prophesied dream to host the C&S conference during its Centenary year.

The Annual Conference is expected to be a significant occasion, uniting different sections of the Cherubim & Seraphim organization. Reverend Mother Abimbola promises an immersive and memorable experience for attendees.

admin by — February 6, 2024 in News 0
Shell Takes FID On Gas Supply To Dangote

Mohammed Shosanya

The Shell Petroleum Development Company of Nigeria Limited (SPDC) and its joint venture partners – Nigerian National Petroleum Company Limited, TotalEnergies EP Nigeria Limited, and Nigerian Agip Oil Company – have taken the final investment decision (FID) to build a dedicated upstream facility to supply 100 million standard cubic feet of gas per day to Dangote Fertiliser and Petrochemical Plant in Lekki, Lagos State, for 10 years.

Managing Director of SPDC, operator of the joint venture, Osagie Okunbor, disclosed this in Port Harcourt describing the FID as a significant step in supporting the Nigerian government’s ‘Decade of Gas’ ambition.

“This investment decision is a critical step in pursuing the development of the gas-rich Iseni field, which is part of the Okpokunou Cluster in Oil Mining Lease 35 located in Sagbama Local Government Area of Bayelsa State,” Okunbor said, adding that SPDC and its joint venture partners remained committed to Nigeria’s ‘Decade of Gas’ ambition and, particularly, the domestic gas agenda.

According to him,increasing the delivery of natural gas to the domestic market is key to accelerated industrialization and economic development of Nigeria.

The FID signals a positive step towards the construction of the required infrastructure for the project that is expected to create jobs through direct and indirect employment,a statement said .

Dangote boasts Africa’s largest granulated urea fertiliser complex and produces around 65 percent of Nigeria’s domestic fertiliser requirements. The project will supply gas which will enhance the Dangote Fertiliser and Petrochemical Plant’s ability to deliver on its promise to the Nigerian people and government.

admin by — February 6, 2024 in Oil&Gas 0