Archive for nigeriang

Court defers judgment in Okah’s wife case

Court defers judgment in Okah’s wife case

A Johannesburg
Magistrates’ Court yesterday deferred judgment to November 30, in an
inquiry being conducted on Azuka Okah over the ringing of her cell
phone in court.

On October 21, Mrs.
Okah was attending the bail application hearing of her husband, who is
facing terrorism related charges in connection with the October 1
bombings in Nigeria, when her cell phone rang during proceedings.

The Magistrate,
Hein Louw, had last week fixed judgment in the case for November 18, on
the expectation that he would have delivered judgment in the bail
application of her husband, Henry Okah, before then.

The Magistrate had
said that due to the closeness of Mrs. Okah to her husband, he chose to
give judgment in her case, after dealing with her husband’s matter.

However, the court
was unable to deliver its verdict in Mr. Okah’s bail bid at the last
sitting on November 12, and has fixed it for tomorrow, November 19.

Mrs. Okah’s lawyer,
Rudi Klause, had during the inquiry, told the court that she was under
pressure, and had actually placed her phone in silent mode until the
court stood down the case. He, therefore, apologised for the error,
which he said was not intentional, though negligent.

Shaun Abrahams, the
prosecution counsel, had said the court should use its discretion in
the matter, as Mr. Klause had referred to it as a case of negligence.

The judge had said
his court had never had such huge number of disruptions before, and he
had even overlooked some of them. He said he understood the pressure
Mrs. Okah was under, but added he would give judgment in the matter.

Judgment in the
bail application was stalled on November 12, as the Magistrate handling
the case said CD recordings of proceedings were retrieved from him for
transcription while he was preparing his verdict.

Mr. Louw,
therefore, fixed today, November 19, to deliver the judgment, by which
time, he said, he would have finished with two other outstanding
judgments he is working on, which also demanded urgent action.

The Magistrate said
apart from the CD request, another issue which affected the delivery of
the verdict was that he lost access to his electronic library with
which he tried to review some case laws, and he was told it was a
national problem.

Mr. Okah is
presently held in a single cell at the Johannesburg Prison. He is,
among other issues, charged with delivering, placing, and detonation of
explosives, and conspiring with others to do so, in connection with the
explosions which claimed no fewer than 12 lives.

Mr. Okah, who
maintains he is innocent, is asking the court for bail while the state
is opp osing the application. He has been in custody since October 2, a
day after the explosions, and first appeared in court on October 4.

NAN

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Man sues Jonathan over N274.2 billion Niger Delta fund

Man sues Jonathan over N274.2 billion Niger Delta fund

For allegedly
withholding over N274.2 billion of the Federal Government’s compulsory
contribution to the Niger Delta Development Commission (NDDC), an
indigene of the Niger Delta area has taken President Goodluck Jonathan
to the federal High Court in Abuja.

Onengiye Elekima,
an indigene of Bukuma, joined the Attorney General of the Federation
(AGF) and Minister of Justice, Adoke Bello and the NDDC as defendants.

He said he wants
the court to declare the president’s action as unlawful, unjustifiable
and ultra vires the provisions of the NDDC (establishment) Act.

The trial Judge,
Ibrahim Auta, who did not sit on the matter, adjourned hearing in the
matter, through the Registrar till December 1, 2010.

The plaintiff is
praying the court for a declaration that the failure of the AGF (3rd
defendant) to take steps to recover these monies from the president was
a breach of the said law and the trust it owes him as a person directly
affected and entitled to benefit from the operation of the NDDC Act
2000.

Mr Elekima wants
the court to order the president and the AGF to comply with the
provisions of Section 14(2) (a) of the NDDC Act 2000 to immediately
release or pay the aforementioned N274, 159, 428, 139.23 belonging to
the commission allegedly withheld.

Not making payments

In an affidavit in
support of the originating summons, the plaintiff averred that the NDDC
Act requires the federal government to contribute to the commission’s
fund, 15 percent of the total monthly statutory allocation due to the
oil producing states.

According to him, a
check at the Revenue Mobilization Allocation and Fiscal Commission and
the office of the Accountant General of the Federation with respect to
accruals and disbursements of money from the consolidated fund, the
federal government has not been making the aforesaid compulsory
contribution to the fund.

“The 1st defendant
has consistently maintained (publicly) that those monies are withheld
on his orders and have remained withheld from 2000 to 2007”, the
affidavit stated and added that the payment of the money will enhance
the operations of the commission as it will enable it carry out its
responsibilities to the Niger Delta Region.

“All efforts by me and other well meaning people in my area to get
the board of the 3rd Defendant (NDDC) to take steps to recover the
withheld fund has been to no avail as the board have wilfully refused
to do so”, he said and prayed the court to order the payment of the
said money by the federal government in the interest of justice.

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Jonathan exhorts civil servants to shun indiscipline

Jonathan exhorts civil servants to shun indiscipline

President Goodluck
Jonathan yesterday declared that indiscipline and corruption will no
longer be tolerated in the public civil service and that no institution
of government is above the law.

He also expressed
dissatisfaction with the acrimony between the office of the head of the
civil service of the federation and the federal civil service
commission, which he said has led to gross indiscipline.

The president made
this declaration during the swearing-in ceremony of the new head of
service, Oladapo Afolabi, and three new permanent secretaries, Mathilda
Nkechi Ejele, Taye Hassan Haruna, and Abdulkadir Musa.

“Let me reiterate
that no institution of government is above the law, and public servants
must appreciate the effect of their actions on the polity,” Mr.
Jonathan said.

“Our public
servants must learn to respect laws guiding their assignments and
eschew unproductive actions that will affect service delivery,” he
added.

Congratulating the
new HOS, Mr. Jonathan said Mr. Afolabi was one of the highly qualified
candidates who are part of the rich history of the Nigerian Civil
Service.

“I expect the
Nigerian Civil Service to cooperate with him. I urge the new head of
service to also work closely with his colleagues, while I implore the
new permanent secretaries, and indeed other permanent secretaries, to
assist their ministers,” he said.

He said the civil
service made considerable progress under the last head of service, and
that he expects to see the continuation of positive pursuit of same to
ensure that Nigeria has a service that is accountable, professional,
and effective.

“The civil service
is the engine room of government and is responsible for implementing
policies. Executing of government decisions and the quality of
governance is, therefore, as good as the quality of the civil service.

“This is why your
appointment is uniquely important to the progress and stability of
national development. I, and indeed all Nigerians, expect only the very
best from you. We are at a critical point in the development of this
country when we must improve the quality of our policies and efficiency
of implementation,” he said.

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CBN sponsors degree programmes at Ibadan varsity

CBN sponsors degree programmes at Ibadan varsity

The Central Bank of
Nigeria (CBN) and the National Emergency Management Agency (NEMA) plans
to collaborate with the University of Ibadan in starting new programmes
at the institution, Olufemi Bamiro, the outgoing Vice Chancellor of the
premier institution, has said.

Mr. Bamiro, who
spoke during the congregation of the awards of Post-Graduate Diploma
and Masters Degrees of the University, held at the Trenchard Hall
yesterday, also stressed the fatherly role played by the institution to
other universities across the country, noting that the University of
Kaduna has requested the University of Ibadan to help train its first
46 degree holders for Masters programmes.

He said the CBN
will be joining hand with the university, “to develop human capital in
three key related disciplines-Banking and Finance, Accountancy and
Economics’’, while NEMA will be sponsoring a programme in Disaster Risk
Management.

He said that the
university will accede to the request from Kaduna in accordance with
the stipulated requirements of the programmes the students applied for,
adding that the premier university must always be ready to play such a
leadership role each time it is necessary.

The university,
this year graduated a total 2,432 candidates, comprising eight M.Phil.
holders, 36 Masters holders in Public Health (MPH), 1,634 Academic
Master Degrees, 514 Professional Degree of Master and 240 candidates
for Post-Graduate Diplomas.

Expanding knowledge

Mr. Bamiro charged
them all to ensure that they impact positively on the various sectors
of the economy as they go out to apply the knowledge acquired in the
university.

“As agents of
development, contribute your own quota to the vital development issues
facing our nation state and the world. It is a known fact that Nigeria
is experiencing serious political and economic problems which is
further compounded by the on-going globalization of the world economy,”
the VC charged.

He noted that the
situation of Nigeria as a developing nation calls for partnership among
the university, government and the industry, saying the university has
the central responsibility of developing human resources on the needed
skills to achieve the developmental goal of the nation.

“The tripartite elements of knowledge, information, innovation
coupled with technical change are the drivers of economic development.
This implies a central role for our universities and in particular,
University of Ibadan as knowledge workers,” Mr Bamiro said, as he
pledged the readiness of the University to take up the challenge of
conducting basic researches to expand the frontier of knowledge and
applied researches for innovations in the industrial sector of Nigeria.

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‘PDP didn’t institutionalise corruption’

‘PDP didn’t institutionalise corruption’

The factional
deputy Speaker, Ogun House of Assembly, Edwards Ayo-Odugbesan, on
Thursday, dismissed insinuation that PDP institutionalised corruption
in the country.

Mr. Ayo-Odugbesan,
who said that corruption was not the creation of the party, called for
the immediate sack of Yinka Odumakin as the spokesman of the Save
Nigeria Group (SNG) over the alleged bias and issuance of such
allegation.

He said it would be wrong and unfair for anybody to point fingers at PDP for masterminding corruption in the country.

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Ghanaian envoy calls for credible elections in Nigeria

Ghanaian envoy calls for credible elections in Nigeria

The Ghanaian
Ambassador to Benin Republic, Modestus Ahiable, has urged the Nigerian
government to ensure free, fair and credible general elections in 2011.

Mr. Ahiable told
the News Agency of Nigeria (NAN) in Cotonou on Monday that credible
polls would engender peace and stability in Nigeria and the entire West
African sub-region.

“For elections to
be successful, first of all, the judges or those who are overseeing the
elections must be fair. They must be seen to be honest people who are
ready to be sure and be clear in their minds that only the winner is
declared the winner.”

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Consumer price index rises

Consumer price index rises

Nigeria’s Composite
Consumer Price Index (CPI) rose by 13.4 percent year-on-year in
October, according to the monthly price statistics report just released
by the National Bureau of Statistics.

“This is slightly
lower than 13.6 percent recorded in the previous month in the new CPI
series. The monthly change of the CPI was 0.3 percent increase when
compared with September 2010,” the report dated 16 November stated.

A Consumer Price
Index is expected to measure changes over time in the price level of
goods and services, purchased especially by households. The annual
percentage change in a CPI is usually used as a measure of inflation.

The nation’s bureau
said the urban all items monthly index rose by 0.5 percent, while the
corresponding rural index recorded 0.1 percent increase when compared
with the preceding month; and that the year-on-year average consumer
price level, as at October 2010, for urban and rural dwellers, rose by
11.5 and 15.0 percent respectively.

Food Index

The bureau said
average monthly food prices remained stable in October, when compared
with September, adding that the level of the Composite Food Index was
higher than the corresponding level a year ago by 14.1 percent.

“The average annual
rate of rise of the index was 14.9 percent for the twelve-month period,
ending October 2010. The marginal fall in the index was caused mainly
by slight decrease in the prices of some food items like yam, potatoes,
and other tubers, due to the harvest season,” the National Bureau of
Statistics said.

Lydia Olushola, an
economist and consultant at Skytrend Nig. Ltd., said for the everyday
consumer, a rise in CPI means prices of goods go up.

“The problem is
when their average wages do not increase in accordance with the CPI,
that is, if the CPI rises faster than people’s average wages, then the
consumers’ purchasing power declines. They can’t buy as much as
whatever it is they usually bought,” Ms. Olushola said.

Experts say
inflation effects on an economy can be positive or negative, as the
case may be. Inflation rates in Nigeria have peaked as high as 15.6 and
as low as 11.6 between October 2009 and October 2010.

Bismarck Rewane,
managing director, Financial Derivatives Company, a finance firm, said
“Inflation on items less farm produce increased from 1.3 percent to
12.8 in September, though that of food decreased by 1.1 percent to 14
percent, from 15.1 per cent and 11.3 percent in July respectively.
Presently, inflation is running at 13.6 percent. The current inflation
record is weak, due to fiscal spending,” adding that inflationary
pressures are likely to persist in November.

The Central Bank
said inflation depicts an economic situation where there is a general
rise in the prices of goods and services, continuously. It could be
defined as “a continuing rise in prices, as measured by an index, such
as the Consumer Price Index (CPI) or by the implicit price deflator for
Gross National Product (GNP).”

The bank said price
stability does not connote constant (or unchanging) price level, but it
simply means that the rate of change of the general price level is such
that economic agents do not worry about it. Inflationary conditions
imply that the general price level keeps increasing over time.

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UK to launch Asian, African low-carbon energy funds

UK to launch Asian, African low-carbon energy funds

The UK government
will launch two new public-private partnership funds to promote
generation of renewable energy in Africa and Asia next year, the
secretary of state for international development said on Thursday.

The funds will target low-carbon energy and related investments in Asia, and large-scale renewable energy projects in Africa.

“We hope to launch these partnerships next year,” Andrew Mitchell said at a briefing in London.

A spokesman for the
UK’s department for international development said it was looking at
ways the funds could be financed, and could not put a value on them yet
or identify the potential private sector partners.

Early modelling of
the Asian fund suggests that it could bring 9 pounds of private sector
investment for every pound committed by the government.

Over the next 25
years, the project could generate up to 5 gigawatts of renewable energy
and avoid 150 million tonnes of carbon dioxide emissions.

The African fund
could generate up to 500 megawatts of new renewable energy per year
from 2015, providing enough electricity for over four million
households.

The government will
also launch a new advocacy fund to help the poorest nations get heard
in international climate change and trade negotiations.

“This fund will
provide access to legal, technical, and logistical support to the
poorest and most vulnerable countries (…) whose full participation is
essential if we are to achieve an equitable deal,” Mr. Mitchell said,
referring to a global agreement on climate change.

Finance

In its spending
review in October, Britain said it would provide 2.9 billion pounds of
international climate finance to 2015. This will partly fund a 1.5
billion pound pledge of fast-start finance from 2010 to 2012.

At last year’s
Copenhagen climate summit, rich countries pledged $30 billion of “fast
start finance” to help poorer countries adapt to climate change and
reduce their greenhouse gas emissions during 2010-2012.

Although European
governments have fulfilled a promise to deliver 2.2 billion euros to
help developing countries tackle climate change, critics have said the
money might have come from rebranding existing aid pledges.

“We promised to
report openly on our fast-start commitments. The UK aid transparency
guarantee was testament to our commitment to be open and transparent
and we are abiding by that promise,” Mr. Mitchell said in response to
such criticism.

“(Our climate
finance pledge) gives us the credibility to press other donors to meet
their commitments and press for an agreement on new and innovative
sources of climate finance,” he added.

Climate finance has
been a contentious issue since the Copenhagen Accord last year.
Developing countries say funds to help them are not enough, while
developed countries struggle to allocate aid in the wake of an economic
downturn.

A U.N. summit in
Cancun, Mexico, from November29-December10, will be trying to find ways
to leverage finance and stimulate investment in low-carbon technologies.

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Manufacturers mute on credit availability

Manufacturers mute on credit availability

The Manufacturers
Association of Nigeria (MAN) will not comment on issues of interest to
its members, particularly as it concerns credit availability.

The association,
whose mission statement is to promote, in close cooperation with its
members, other organs of the organised private sector, the government,
and other stakeholders in the economy, an enabling environment for
industrial development, growth and prosperity of the society at large,
declined to make comments on the state of credit availability to its
members, after several enquiries and visits to its Lagos office.

The World Bank last
week released a report titled ‘Nigeria’s credit squeeze and beyond’,
saying that there was no evidence of credit squeeze in Nigeria and that
credit to manufacturing and commerce have been squeezed, but only a
little, a contrary view to the general belief of a credit squeeze in
the nation’s economy.

“A credit squeeze
does not appear to have taken place. Credit was not going to productive
sectors, instead it was going to margin lending, oil importers, and
insider lending. In early 2010, liquidity rises and interest rates
plummet. After that, rumours and anecdotes about a credit squeeze start
to circulate,” the report said.

The organisation
insists that credit is growing in most sectors and that money is not
the solution, as there are lots of liquidity in the system.

“Our conclusion is
that the real sector is not affected. Credit to the real sector has not
been squeezed, because less than one percent of Nigerian businesses
ever had access to bank finance. There is the need for responsible
growth in lending to the real sector, current incentive for banks with
low interest rates on government paper and squeezed bank margins.”

Bashir Borodo, the
president, Manufacturers Association of Nigeria (MAN), refused to
comment as he did not pick his calls. Jide Mike, the director general,
promised to respond to enquiries related to credit to the manufacturing
sector, but did not do so, even after visits to the secretariat.

“We have a
procedure here. It is only the director general and the president that
can speak. I can only facilitate the process of getting a response,”
said Rasheed Adegbenro, the corporate affairs official of the
association.

The association
serves and represents nearly 2000 companies in private and public
sectors in manufacturing, construction, and service sectors of the
national economy. Among other things, it is supposed to advise,
consult, and where necessary, join issues with government and other
bodies. However, on matters that affect its members, it is reluctant to
speak up for them.

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Government considers new biofuels development policy

Government considers new biofuels development policy

The Federal
Government is considering a new biofuels development policy for a
viable alternative to the continued dependence on imported petroleum
products as fuels for energy supplies in the country.

A forum recently
facilitated by the Petroleum Products Pricing Regulatory Agency (PPPRA)
has already recommended the constitution of a technical committee to
undertake a comprehensive review of the 2007 national biofuels policy,
to remove all impediments to achieving the bio-fuels development
initiative, and replace with a framework that will be more commercially
friendly.

The Energy
Commission of Nigeria (ECN) is expected to provide the necessary
technical input to the deliberations, particularly concerning previous
and ongoing biofuels initiatives, as well as the existing relationship
between producers and foreign off-take partners from China and
Singapore. This will also enable Nigeria gain access to the carbon
credit available under the Clean Development Mechanism (CDM).

During a recent
meeting in Abuja, attended by the Department of Petroleum Resources
(DPR) and other government monitoring and regulatory agencies in the
oil and gas industry, members observed that the provisions of the
existing policy document were inadequate to help realise the national
objective.

Participants were
of the opinion that rather than have an agreement entered into solely
with the Nigerian National Petroleum Corporation (NNPC), as envisaged
under a previous arrangement, the proposed policy should make it an
industry-wide pact, to enable depot owners and petroleum products
marketers partake, in line with the current reforms in the petroleum
industry.

Unhelpful policies for local production

They also pointed
out that the current import-based policy on petroleum products supply
in existence was a dis-incentive to local production and domestic self
sufficiency in fuels production.

The Biofuels Policy
and Incentives (2007), which was approved by the Federal Executive
Council on June 20, 2007, and gazetted to facilitate the promotion of a
national bio-fuels development programme in the country, was, however,
found to contain some lapses, including its being dependent on import
as well as state-controlled monopoly.

The NNPC was
mandated to create an enabling environment for the take-off of a
domestic ethanol fuel industry, to gradually reduce the country’s
dependence on imported petroleum products, reduce the negative impact
of environmental pollution, as well as create a commercially viable
industry capable of sustaining the creation of domestic job
opportunities.

“The imperative for
a policy review is that given the fact that bio-fuels markets worldwide
are mandate-driven, Nigeria cannot afford to be an exemption. There
need for the biofuels policy document to be reviewed by a sub-committee
before presentation to the main committee. There is also the need to
incorporate other relevant organisations, such as the financial
institutions, farmers association, etc.,” said Abiodun Ibikunle, the
PPPRA executive secretary.

The technical
committee on biofuels development, which is expected to be inaugurated
next week by the minister of petroleum resources, Diezani
Alison-Madueke, will include the NNPC, Major Oil Marketers Association
of Nigeria (MOMAN), Depot and Petroleum Products Marketers Association
(DAPPMA), DPR, PPPRA, and Standard Organisation of Nigeria (SON).

Others are
representatives of the ECN, Central Bank of Nigeria (CBN), New
Partnership for Africa’s Development (NEPAD), National Association of
Road Transport Owners (NARTO), farmers association, federal ministries
of finance and petroleum resources.

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