NEWS
National Theatre: Firm Wants FG to Halt Handover of Facility to CBN –Official
A concessionaire, Topwide Consortium, has urged the Federal Government to discontinue the handover of National Theatre to the Central Bank of Nigeria (CBN) pending the determination of the matter in court.
Topwide Consortium Project Director, Mr Chris Ogan, made the call in a statement made available to newsmen on Saturday, in Awka.
It could be recalled that the Federal Executive Council (FEC) had on Feb.
10, approved an agreement that will lead to the renovation of the National Theater, Iganmu, Lagos for N21 billion.Subsequently, on Feb. 15, the Bankers’ Committee, led by Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), signed a Memorandum of Understanding (MoU) with the Federal Government.
The Federal Government said the renovation will create thousands of jobs among other benefits.
But, Ogan said the suit it initiated over disturbance of its rights as concessionaire of the National Theatre had not been concluded, and that his firm had mobilised direct local and foreign investments in excess of $2 billion under the concession agreement.
“We are using this opportunity to reiterate our answer that the suit is very much pending and for which we have retained two commercial law Senior Advocates of Nigeria,” he said.
He said a motion for interlocutory injunction to restrain any interference with the subject of the suit filed by their lawyers was also pending before the courts.
He said the suit was filed in December 2019, with CBN, the Minister for Information, Tourism and Culture and Access Bank Plc. as some of the defendants.
“Other defendants are Herbert Wigwe representing the Bankers Committee, the Board of the National Theatre, Infrastructure Concession Regulatory Commission (ICRC) and Attorney-General of the Federation.
“The case was to come up on Dec. 15, 2020, but the Federal High Court, Lagos, which is hearing the case did not sit and it later adjourned the case to March 18, 2021,” he said.
Ogan said his firm was contracted to develop the fallow lands, an eco-friendly grand mini-city housing, two five star hotels, theme park, arts arcades, office complexes and shopping malls.
“We were also contracted to develop a high rise car park and provide appropriate connections to the Lagos light rail Metro Blue Line station planned for the National Theatre Complex.
“The agreement is that upon completion of the rehabilitation, the upgraded National Theatre would be handed over to the Federal Government for the continued management by the Board of the Complex,” he said.
According to him, the Attorney-General of the Federation signed-off finally on the concession agreement on May 3, 2017 and Road Shows were organised in Lagos, Abuja, Johannesburg, Dubai, London and New York to woo investors.
However, he said, the news of a planned takeover of the National Complex and adjoining fallow lands by the CBN and the Bankers Committee came as a surprise.
“Our lawyers, on our instructions, wrote letters-dated Oct. 24, 2019, to all the concerned Federal Government agencies/agents to desist from tampering with our concession contract.
“None of the officers/agencies ever replied the letters and shunned our entreaties for meetings to clear whatever misunderstanding that informed their actions,” he said.
Ogan, therefore, called for strict compliance with due process and rule of law, over the handling of the matter.
He said forging ahead with the handover would not only result in contempt of the courts, but also an embarrassment of Nigeria, before international investors. (NAN)
OPC/MMA
Foreign News
Australia’s Regional Leaders to Ban Children from Social Media
The leaders of all eight of Australia’s states and territories have endorsed the prime minister’s plan to ban children younger than 16 from using social media.
Anthony Albanese announced on Friday that legislation for the world-first ban would be introduced to parliament in November after the leaders of all six states and two territories endorsed the plan.
Speaking after meeting with the state and territory leaders on Friday, Albanese said that the government of the island state of Tasmania expressed a preference to set the minimum age limit at 14.
However, they ultimately agreed with the proposed 16 to guarantee a uniform nationwide approach.
“The safety and mental health of our young people has to be a priority, and my government will do all that we can to protect our young Australians.
“Government will also provide support for parents and teachers who are dealing with these issues,’’ he told reporters in Canberra.
Albanese on Thursday committed to setting the minimum age limit at 16, having previously pledged to introduce a minimum age limit without specifying a cut-off age.
Under the proposal, the onus to ensure compliance with the minimum age limit will fall on social media companies, not parents, guardians or children.
The laws would be enforced by the office of the government’s eSafety commissioner.
Albanese and Michelle Rowland, the minister for communications, said on Friday that the ban would take effect at least 12 months after the legislation is passed by both houses of the federal parliament.
The passage is to give industry, governments and the eSafety commissioner time to implement systems and processes.
Rowland said that 16 was chosen as the cut-off age following extensive consultation to minimise harms experienced by young people during a critical development period. (Xinhua/NAN)
Foreign News
Israel Sends Two Planes to Evacuate Fans after Amsterdam Violence
Israel has sent two planes to evacuate fans from Amsterdam after violent clashes between Israeli supporter and pro-Palestinian demonstrators on the fringes of Ajax versus Maccabi Tel Aviv Europa Cup match.
“The Prime Minister has directed that two rescue planes be sent immediately to assist our citizens,.
“The harsh pictures of the assault on our citizens in Amsterdam will not be overlooked’’ Israeli Prime Minister Benjamin Netanyahu’s office posted on X on Friday morning.
The Israeli leader’s office called the incident horrifying and demanded that the Dutch government and security forces take vigorous and swift action against the rioters, and ensure the safety of our citizens.
This clash was however unclear and yet to be unfolded.
The exact events remain unclear. The violent disturbances occurred around the Europa League football match between Dutch club Ajax Amsterdam and Maccabi Tel Aviv on Thursday evening. Ajax won 5-0.
There were clashes in several locations in the centre of the Dutch capital; though it was not specified which side started the violence.
Around 60 people were detained temporarily on Thursday evening, the police said.
Amsterdam TV station AT5 reported that demonstrators threw chairs at Maccabi fans.
The police’s mobile units reportedly shielded the Israelis and escorted them to their hotels.
There were also clashes in the afternoon between Israeli football fans and security forces in the city centre.
According to police, about a dozen people were arrested for disturbing public order and illegal possession of fireworks.
Even before the match, there were isolated altercations near the stadium in the south-east of the city, the police said.
More than 200 demonstrators attempted to reach the venue, according to the police.
Dutch Prime Minister Dick Schoof condemned these “unacceptable antisemitic attacks on Israelis’’ on X and said he had since spoken with Netanyahu.
Far-right Dutch leader Geert Wilders called it a pogrom.
“We have become the Gaza of Europe,’’ he said, adding that Muslims with Palestinian flags were hunting down Jews.
Israel’s UN ambassador also referred to the incident on X as a pogrom.
Steffen Seibert, Germany’s ambassador to Israel condemned the incident.
“Chasing and beating up Israeli soccer fans is not anti-war protest.
“It is criminal and intolerable and we must all stand against it. As a European I am ashamed to see such scenes in one of our great cities,’’ he wrote on X.
However the Reaction from the United States (U.S.).
In New York, Jonathan Greenblatt, the head of the Anti-Defamation League (ADL), described itself as the world’s largest anti-hate organisation.
He demanded that the Dutch government ensure the safety of Israeli fans, apprehend and prosecute the perpetrators and apologise for the violence.
“This is exactly what ‘globalise the intifada’ looks like,’’ Greenblatt wrote on X, saying there were mobs of hate-filled people who had attacked Israelis who came to Amsterdam to enjoy a football game.
Even New York Attorney General Letitia James chimed in on X, calling the attacks against Jews in Amsterdam “deeply disturbing and horrifying.’’
New York State, particularly metropolitan New York City, has a large Jewish population.
“We must do everything in our power to protect Jews in America and across the world.
“This anti-Semitism and violence must end now,’’ she wrote. (dpa/NAN)
NEWS
NAICOM Gives Insurers Dec.31 Deadline to Settle Outstanding Claims
The National Insurance Commission (NAICOM) has given insurance companies Dec.31 deadline to clear all outstanding claims.
The Head, Communication and Stakeholders Management Sub-committee of the Insurers Committee, Mrs Ebelechukwu Nwachukwu, made this known while addressing a news conference after a meeting of management in Lagos.
The meeting marked the first gathering of the Insurers Committee with Mr Segun Omosehin, as the Commissioner For Insurance.
Nwachukwu, also Managing Director, Rex Insurance Ltd., said the commissioner charged insurance companies CEOs at the meeting to ensure that no outstanding claims is captured at the close of their 2024 financial accounts.
The NAICOM boss, she said, tasked the insurance company’s executives to defend the insurance industry through payment of genuine claims, which is integral.
“The regulator said it would be checking in an intensive and focused manner, the outstanding claims in the insurer’s books.
“The commission said its focus is on the soundness of the insurance industry, measured by the ability of meet their obligations when due,”she said.
According to her, the commissioner also charged the insurance companies to take steps towards recapitalisation, by evaluating their financial position, as to the need to raise fresh capital.
She said the charge came by the regulator,having exposed a draft of the Risk Based Supervision (RBS) regulations to the operators, in the event that recapitalisation takes-off.
“If there will be need to raise capital, insurance companies need to start speaking with their different boards, shareholders about the possibility of recapitalisation happening, before it becomes a regulation,”she said.
Nwachukwu revealed that the commissioner further encouraged brokers to ensure strict compliance with the “no premium, no cover” regulation, having observed some violations to the regulation.
She said the commissioner also charged CEOs of insurance firms to get involved in addressing complaints.
Nwachukwu also stated that the regulator encouraged the insurance operators to submit the financial statements of their companies early enough, to create more confidence on the industry.
She mentioned that Omosehin charged the insurers to focus their attention significantly on Nigeria’s Data Protection regulations for the insurance industry.
The sub-committee chairman said NAICOM boss also wants insurance operators to pay specific attention to the implementation of the 10- year Insurance Strategic Plan.
She said this was important, having unanimously agreed to seven thrusts of commitment that would enable the industry meets its objective by year 2027.
Nwachukwu added that the commissioner charged the insurance operators to also pay attention to the legal and regulatory framework for the industry, under the Insurance Bill 2024.
“He spoke about focusing of compliance issues, under the Prudential Guidelines released by NAICOM to the insurers and put an end to Corporate Governance abuses, recognised within the industry.
“The commissioner discussed the National Credit Guarantee Scheme signed by President Bola Tinubu.
“If insurers invest in the scheme, we have the potential of sitting on the board of the facility, where a lot of decisions would be taken,”she said.
According to her, Omosehin also informed the insurance operators on the significant progress made on the Agency’s portal, noting that all resources are in place to continue the efficiency of the portal.
Nwachukwu said the present administration of NAICOM is very clear on the insurance industry and what it expects to see and has hinged its success on the collective Insurance Industry Reforms plans agreed upon as an industry.
She further said that the regulator insisted that insurers get the right approval from NAICOM before newly appointed Executive Director of insurance companies assumes their appointment.
The insurer stated that the committee also reconstituted its sub-committees in line with the pillars of its 10-year roadmap for the insurance industry.
Nwachukwu listed the reconstituted sub-committees of the Insurers Committee as, the Insurance Sector Stability committee,Communication and Stakeholders Management committee, Technology and Talent Management committee and Customer Service and Market Expansion committee.(NAN)