NEWS
Africa Energy Bank: FG Still Committed to Meeting September Deadline
The Federal Government has reiterated commitment to meet the September deadline set out for the commencement of the African Energy Bank (AEB).
Sen. Heineken Lokpobiri, Minister of State Petroleum Resources (Oil), gave the assurance on Wednesday in Abuja when Dr Umar Ibrahim, Secretary-General, African Petroleum Producers’ Organisation (APPO) visited him.
Report says that Nigeria, on July 4, was granted the hosting right for the Africa Energy Bank after beating Ghana, Benin Republic, Algeria, South Africa and Cote D’Ivoire in a keenly contested bidding.
To ensure the bank’s operationalisation, APPO Secretary-General called on African oil-producing member countries to contribute their subscription fees of 83 million dollars, aiming for the bank’s inauguration in September 2024.
Lokpobiri said it was working assiduously to resolve the issues bordering on the host country agreement, the headquarters building and then the balance of the subscription.
“We are working very seriously to fulfill all the things we have signed up to do before the end of September, so that the bank can actually start off.
“We want to emphatically state that Nigeria is committed to meeting her obligations as a host country. We are working day and night to ensure that we meet the September deadline,” he said.
He said the Permanent Secretary of the ministry, Amb. Nicholas Ella and him, had been meeting practically daily, while the permanent secretary had been spearheading the technical team to ensure that everything was done within the time frame.
He commended Ibrahim for the excellent job he had done for APPO, adding that since his assumption as the Secretary-General, APPO had been rebranded and grown exponentially to its current level.
“And we Nigerian are very proud of you, not just as our ambassador, but as an ambassador of Africa.
“Anytime you speak, the rest of the world listens because of your depth of knowledge and the way you have been rated globally as far as the energy community is concerned,” he said.
The minister, while urging him to join in building the bank to a strong level before exiting as the Secretary-General, said he supported all the countries, though criteria was clearly spelt out but Nigeria won squarely.
Earlier, the Secretary-General, who was on his first visit to Nigeria after it won the AEB hosting right, commended the ministry for its efforts toward the establishment of the Bank, an initiative of the APPO and Afreximbank.
“There are issues. One is the host country agreement, second is the headquarters preparing it and the third is to make up the difference between what Nigeria pledged and what Nigeria has paid so far.
“Everybody is looking up to Nigeria. Ministers of other countries are asking me, when are you moving? When are we starting,” he said.
He then appealed to the Federal Government to conform with its promise to APPO which informed the decision to give Nigeria the hosting right.
As a Nigerian, I am very happy, pleased and very proud of what you have done. I want to make it very clear, Nigeria won and won fair and square.
“And I want to say that really Nigeria should be proud of its team in APPO, the minister, the permanent secretary and consultants.
“You have earned the respect of your colleagues. And I want this to be sustained,” he said. (NAN)
Judges, lawyers and litigants at the Federal High Court, Court of Appeal and National Industrial Court in Ibadan, on Monday, were locked out by protesting members of the Judiciary Staff Union of Nigeria (JUSUN).The national leadership of JUSUN had directed its members in the federal courts to embark on a strike on Monday over unpaid 25 per cent and 35 per cent salary increment, minimum wage and wage award.
A JUSUN official at the National Industrial Court, who craved anonymity, told Daily Asset in Ibadan that their salary was no longer enough as a result of current economic situation in the country. He said that the workers were seriously suffering while judges in the courts did not see them as part of them.According to the official, several steps taken to ensure their demands are met have been unsuccessful.The JUSUN representative said that no fewer than 10 members of staff of the National Industrial Court nationwide had died from February 2025 till date.“The suffering is too much and we are not asking for too much,” he said.Also speaking, a JUSUN official at the Court of Appeal, Ibadan, Mr Atanda Babatunde, said the strike was embarked on in compliance with the directive of the national leadership of JUSUN.Babatunde said that the strike would continue untill their demands were met.A lawyer, Mr Ismail Saka, who was at the Court of Appeal, Ibadan, expressed his disappointed over the strike.Saka said that he had been notified of his case coming up today and was surprised to have been locked out due to JUSUN strike.He said that one of his clients came from Sango-Ota, Ogun State, for the case, risking his life and wasting time and resources.He said that it was the right of JUSUN to embark on strike due to their entitlement while everyone was aware of the current economic reality in Nigeria.‘I urge the federal government to be compassionate and pay them their demands, which will make them live comfortable lives and not to be corrupted.Also, Mr Wale Oyegoke, who had a case at the Federal High Court in Ibadan, said he was angry that his case did not hold as a result of JUSUN strike.Oyegoke said that the Federal Government must treat the judiciary workers well, being a sensitive area.He said that the cost of living in Nigeria was already high while government was getting enough money due to subsidy removal.“The cost of transportation is very high, and if care is not taken, these staff will spend all their earnings on transportation.“I, as a person, spend N60,000 weekly on transportation.“Leaving home today, I thought my case would go on, but I am dsappointed that cases are not going on due to the strike.,” he said.A litigant, Mr Seye Olawale, who came from Lagos State, said that he was seriously pained risking his life on the bad road and wasting time and resources to come to Ibadan.(NAN)
The Cross River Government has threatened severe penalty on a firm, Bao Yao Iron and Steel Company, for owing the state N1.2 billion accrued tax liabilities.This was disclosed by Mr Ayi Bassey, Director Compliance, Cross River Internal Revenue Service (IRS) on Monday during a compliance drive by the service to the premises of the firm in Calabar.
Bassey said the service had taken steps provided by law but the company refused to discharge its statutory responsibility to the government. “We have served them demand notice, final demand notice; for four periods they have been issued pre action notices and they have done nothing to show they have a responsibility to the state.“As a service, we view this as a deliberate attempt on the part of the management of the company to undermine the developmental efforts of the present administration in the state.“We have placed the non compliance stickers as our final demand to them, beyond this, we will take necessary steps to ensure we enforce compliance,” he said.On his part, Mr Emmanuel Esira, Director Legal Services and Enforcement of Cross River IRS said the visitation was a further administrative step to get the company informed of their indebtedness to the government.According to him, “the tax we are asking for are deductions from staff salaries that have not been remitted to the tax authorities in the state since 2009.“The notification stickers will be on their premises until they comply and if they don’t respond, we will take further actions.Esira urged other companies doing business in the state not to allow situations to get to the point where they have to paste non compliance stickers in their premises before they carry out their obligations. (NAN)
A Badagry Chief Magistrates’ Court in Lagos State on Thursday, ordered the remand of a 35-year-old man, Segun Deala, for stealing Eko Electricity Distribution Company (EKEDC) cable.Deal whose address was not provided, had pleaded guilty to a two-count charge bordering on stealing and breach of peace.
The Chief Magistrate, Nurudeen Layeni ordered that he should be kept at the Awhajigho correctional facility in Badagry. He adjourned the case until Aug. 14, for fact and sentencingEarlier, the prosecution, ASP Edet Ekpo told the Court that the defendant committed the offences on May 9, at about 2p.m., at Gbenapon Ajara-Topa, Badagry, Lagos.Ekpo said that the defendant stole some length of electric cable with value yet unknown belonging to the EKEDC .He said the defendant conducted himself in a manner likely to cause breach of peace by destroying the cable.According to prosecutor, the offences contravened Sections 287 and 168 of the Criminal Law of Lagos 2015.
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