Category: News

A trailer lost control and crushed three minibusses, leaving seven persons feared dead in Owerri, the Imo State capital on Saturday.

According to a report by Punch, the truck hit about 20 persons at the Imo State University junction in Owerri after the driver lost control of the vehicle.

Traders and other business owners at the popular Abakpa and Gariki markets in Enugu have commended Governor Peter Mbah of Enugu State over his act of magnanimity which led to the extension of the time given to them to relocate after the original quit notice given to them in September 2023 expired in April 2024, according to a government issued statement obtained by Pacesetter.

Recall that the state government, in a public service announcement and letters written by the Commissioner of Transportation, Dr. Obi Ozor, served traders occupying government-owned Enugu State Transport Company (ENTRACO) premises adjacent to Abakpa Market, and Gariki Motor Park also owned by the state government, notices of intention of government to recover premises in 2023.

Copies of the letters sighted by newsmen indicated that Enugu State Government owns the premises built for motor parks, which subsequently became market hubs for traders and passengers operating in the vicinities.

At the Market Road, also known as Holy Ghost Park, clearing and demolition of temporary structures commenced on 10th May after seven clear month notices were served on property and business owners, followed by compensations and provision of alternative temporary locations.

Speaking at Gariki Market on Saturday, a cosmetics trader, Mr. Monday Ndukwe, said they received notice from the state government informing them of the government’s proposed terminal stations and the need for traders in the premises to relocate as demolition would commence in April.

“First, we were invited by the state government on different occasions both at the Government House and at the Ministry of Transport where we were informed of the development. This happened sometime between September and October 2023. After that, they served us with notices and gave us six months grace. The notice expired in March 2024, but government didn’t come for the demolition, so we stayed back.

“Sometime in May 2024, the state government came again to remind us about the need to evacuate. So, we prepared our minds since the notice given to us had already expired. After that, we heard that they had started work at Holy Ghost and that they would also do the same thing at Abakpa and Gariki. You see that we had already removed all our belongings. However, government has not come. So we want to thank the governor for his patience and for extending the grace period,” Mr. Ndukwe added.

Narrating her preparedness for the development, a middle-aged woman who sells pampers and other children’s items, Ijeoma Egodi, said she was not in panic as she had already relocated to a shop opposite the park, stressing that traders welcomed the terminal station as a development that would boost the economy of the area.

At the park, a bus driver who shuttles to Akpugo, Okoh Nnam, said the governor had proved to be humane and friendly through the extension gesture of over a month after the notices served on them had expired in March.

“I want to thank Governor Peter Mbah and all his team for consulting with us and for giving us time to relocate to another good place. Even as I am talking to you now, we are all ready for the work to commence because the government has promised that we are all going to be beneficiaries of the development,” he added.

At Abakpa Market, the story was the same at the ENTRACO Park as most of the transport owners had already relocated to their new sites while traders in the premises had secured alternative shops and continued with their trading.

According to the statement, Mrs. Njideka Ogbodo, who sells utensils in one of the kiosks at the park, said she had secured a new shop that was better than the kiosk and hoped for a higher patronage.

“I’m almost done removing my goods because I have got a new shop. Come and see it. It’s more spacious and secure. I want to appreciate the governor for the time he gave us. We thought he would commence work in March but he decided to extend the time to enable us prepare ourselves,” she said.

A market leader at the Abakpa Market said they had been interfacing with the government for more time which led to the extension period of over one month.

“As you might have read in the news that government wanted to build a terminal station here, and had served everyone here with notices.

“We received it, and we held meetings amongst ourselves. We couldn’t meet the March deadline and we pleaded with the government to extend it by one month. That’s ending of April. Government yielded and it’s even getting to two months.

“Although we have all removed our belongings but we want to thank the governor for all the projects he is doing and for the terminal station. We are in support of it, and we will give all our support to see that everything goes well. Let me also thank him for the roads he is reconstructing here in Abakpa. We are happy with his administration,” he further noted.

Emirates Airlines says it will resume services to Nigeria from October 1, 2024, operating a daily service between Lagos and Dubai.

In a statement on Thursday, the airline, with its hub in the United Arab Emirates (UAE), said flight services will be operated using a Boeing 777-300ER.

Governor Francis Ogbonna Nwifuru of Ebonyi State has directed the completion of the Ishiagu Water Scheme within the next six Months.

Governor Nwifuru also approved the handover of the Community Health Centre back to the Community.

The Governor gave the directives Saturday when a delegation from Ishiagu Community of Ivo Local Government visited him in his office at the Government House, Abakaliki.

He stated that the water scheme which will be commissioned in December, aligns with his vision of providing basic amenities for the people.

“On Tuesday, I approved the full payment to the contractor handling the Ishiagu Water Scheme. He has the next 6 months to complete the project.

“The Commissioner and the Special Assistant on Water should monitor compliance.
“Regarding the request for the ceding of the health centre, your request is hereby approved. The Commissioner for Health will finalize processes”, Governor Nwifuru stated.

He appealed to stakeholders in the Community to unite to attract more development and sustain the existing peace.

On the issue of who becomes the Chairman of the council in the forthcoming Local Government election, the Governor reiterated his stance of providing a level playing ground for all aspirants, stressing that stakeholders and the people will determine whom they want.

Earlier, the leader of the delegation and the President General of Ishiagu Community Development Union, ICDU, Arc. Moses Ajah said they were in the Governor’s office to congratulate and thank him for the good governance he is delivering to the state and the appointment of Ishiagu sons and daughters into his cabinet.

Arch. Ajah added that the request for the ceding of the health centre which is in a decrepit state is informed by the construction of the General Hospital, stating that the approval will allow the community to take full administration in collaboration with the tertiary health facility, assuring that the people will remain supportive to the present administration.

The Member representing Ohaozara, Ivo and Onicha Federal Constituency, Hon. Kama Nkemkama and Chairman of Ivo Local Government, Council , Chief Emmanuel Aja were among the delegation .

The Nigerian government has approved mandatory payment of access fees by all visitors and VIPs at the nation’s Federal Airports across the country.

This approval indicates that all official motorcades of the President, Bola Ahmed Tinubu and that of the Vice President, Kashim Shettima will henceforth be made to pay the toll gate levies in any of the nation’s airports.

PRESIDENT Bola Tinubu yesterday received the report of the High Powered Presidential Committee, HPPC, on Nigeria’s extended continental shelf project, with a commendation to the team of experts who worked hard over the years to advance the project.

The project aims to extend Nigeria’s maritime boundaries in accordance with the United Nations Convention on the Law of the Sea (UNCLOS), 1982.

The Economic and Financial Crimes Commission (EFCC) says it is doubling down on its efforts to crack down on businesses and others transacting in dollars.

According to the agency’s Acting Director of Public Affairs Wilson Uwujaren, the EFCC won’t spare anyone or businesses transacting in dollars.

…Jim Nwobodo is a Legend – Amechi-Uno Town Union

…You’re a blessing to Mankind – Igwe Obi Igwesi 

…For Jim, Life begins at 84 – Dcn. Okey Ogbodo

Chetanne Chinelo, Enugu

The people of Amechi-Uno community, Amechi Awkunanaw in Enugu South local government area of Enugu State, has expressed uncontrollable joy following the return of their illustrious son, His Excellency Sen. Dr. Jim Nwobodo to his ancestral homestead. 

Receiving Jim Nwobodo home on Saturday, May 11, 2024, with a mammoth crowd, dance troupe, and gun salutes, as he (Jim Nwobodo) and his wife, Dr. Barr. Pat Nwobodo, danced to his signature ‘Papa anata’ chants, the people, speaking through the Secretary General of the Town Union, Chief Christian Igwe, described the governor of old Anambra state as a legend and great Iroko. 

In their welcome address, they noted reasons that prompted Jim Nwobodo’s decision to relocate to Orieani when he became governor. 

“As providence would have it, in 1979 Senator Nwobodo contested the governorship position of the old Anambra State under the mentorship of Late Chief Dr. Nnamdi Azikiwe, the Owelle of Onitsha.

“He was a very handsome young man and a celebrated orator. He won the hearts of almost all the electorates and recorded a landslide victory over his opponents.

“The contest was hot but the victory was divine. It was reminiscent of the fight between David and Goliath. Senator Nwobodo was the only WAWA man who could muster the courage to put up a contest against the present Anambra people. He thus became the political father of Nkanu Land in particular and the WAWA nation at large”.

Breaking Kolanut and offering prayers earlier in Nwobodo’s Orieani mansion before the departure for his ancestral home, HRH Eze Barr. Igwesi Obi Igwesi, the traditional head of Obuoffia and traditional ruler of Omuoha autonomous community, thanked God for His ever fresh mercies upon Nwobodo. 

Tracing the relationship his family shared with that of Sen. Jim Nwobodo, including how Nwobodo’s mother was present for days in his father’s palace when his father, HRH Igwe John Igwesi joined his ancestors, Igwe Igwesi expressed deep thanks and gratitude to Jim Nwobodo.

“You were already Governor when my father transited to the great beyond. While going through my father’s archives, I discovered correspondences and letters you exchanged with my late father. I took notice of the fact that he referred to you as his son in those letters.

“I recall that your mother spent five days with us when we were to bury my late father. It was an act of kindness that my family didn’t take for granted. 

“When my younger one, Rt. Hon. Ikemba U.S.A Igwesi indicated interest to run for a legislative office, you gave him your full support and nod, ensuring he clinched the ticket and was eventually elected to represent Enugu South Urban Constituency in the State Assembly. 

“These gestures made me take you as an elder brother and I always looked forward to an opportunity to publicly appreciate you”.

Presenting a cow and other gifts, Igwe Igwesi extolled his (Nwobodo) thoughtfulness to return to his father’s home, as a first son, while wishing him longer life.

The Enugu State Commissioner for Local Government, Rural Development and Chieftaincy Affairs, Dcn. Okey Ogbodo, explained that the day presented another opportunity to celebrate Jim who he said has neither been sufficiently celebrated nor can ever be over celebrated.

Ogbodo thanked God for the gift of Jim’s wife, Dr. Barr. Pat Nwobodo, saying he has witnessed first hand the enormity of love she has showered on Jim these past years. To Jim, he said “life begins at 84.”

Other speakers took turns to shower encomiums on Jim and his wife, Patricia Nwobodo. 

Responding, the visibly elated Jim Nwobodo thanked his guests for attending despite such short notice. 

He stated that he puts God first in all his endeavors, reiterating that all his achievements were by God’s grace. 

He showered praises on his wife, extolling her intelligence and industry.

“This is the beginning, I’ll call you again and I know you will answer”, Nwobodo quipped, promising attraction of more dividends of democracy to his community.

Pacesetter reports that Nwobodo was accompanied by traditional rulers. Some of them included Igwe Igwesi Obi Igwesi, Igwe Nnamchi Emmanuel, Igwe Greg Nnaji and Igwe D.A Nnamani who presented a cow, on behalf of the Amechi-Uno community.

Consecrating the compound with holy water and salt, the Catholic Priest took his Bible reading from the book of Colossians.

Jim Nwobodo, who recently celebrated his 84th birthday is a Nigerian businessman and politician who was governor of Anambra State (1979–1983) during the Nigerian Second Republic. 

In 1995, he was appointed Minister of Youth and Sports and was Senator for Enugu East Senatorial District in Enugu State (1999–2003). In 2003, he ran unsuccessfully in the Nigerian Presidential elections.

Chetanne Chinelo, Enugu

The Enugu State Government has provided clarifications on why it entered into a N100bn deal with Pragmatic Palms Limited to revive United Palm Products Limited, a dormant asset owned by the state and established by the former Premier of Eastern Region, late Dr. Michael Okpara.

Reacting to a viral whatsapp text that showed that Pragmatic Palms Limited, the company that signed the deal with the state government, was incorporated on May 6, 2024, with the deal made public by the state government on May 9, 2024, the Senior Special Assistant to the Governor of Enugu State on External Relations, Uche Anichukwu, stated that “Enugu State Government IS NOT releasing N100bn or any dime to Pragmatic Palms Ltd. Instead, Pragmatic Palms Ltd, a Special Purpose Vehicle (SPV) for the partnership, will finance the revitalisation of UPPL.”

Refuting insinuations that it was unethical for the state government to enter into the deal with a newly incorporated company, Anichukwu, in a statement titled ‘Facts of the N100bn Deal to Revive Moribund Enugu State United Palm Products Ltd’, noted that because “several parties/investors are involved, it became imperative, as is the best international practice, to register a Special Purpose Vehicle (SPV) as the platform to transact the deal”.

Although the statement did not provide details on the bidding process, Anichukwu maintained that the interest of the state was protected.

The full statement reads:

The Enugu State United Palm Products Ltd., UPPL, is one of the numerous initiatives of the former Premier of the defunct Eastern Region, the late Dr. Michael Okpara, and had lain fallow for decades.

As a government focused on agriculture and agro-industrialisation, UPPL was, expectedly one of the many moribund assets penciled down for revitalisation by Governor Peter Mbah in line with his campaign promise to convert the state’s dormant assets to productive assets and grow the state’s economy exponentially from the current $4.4bn to $30bn through private sector investments. This culminated in the N100bn deal between the Enugu State Government and Pragmatic Palms Ltd., a subsidiary of Diamond Stripes Ltd. on Thursday, May 9, 2024 after months-long negotiation and due diligence that started way back in 2023.

THE N100BN DEAL

Enugu State Government IS NOT releasing N100bn or any dime to Pragmatic Palms Ltd. Instead, Pragmatic Palms Ltd, a Special Purpose Vehicle (SPV) for the partnership, will finance the revitalisation of UPPL. Pragmatic Palm Ltd. will provide finance for 60 per cent of the transaction value, while the Enugu State Government will provide the plantations valued as 40 per cent equity.

INCORPORATION OF PRAGMATIC PALMS LTD

Because several parties/investors are involved, it became imperative, as is the best international practice, to register a Special Purpose Vehicle (SPV) as the platform to transact the deal. Pragmatic Palms Ltd. was duly incorporated before the signing of the agreement.

For the avoidance of doubt, however, although it is not the case in this instance, it is apposite to also note that the Companies and Allied Matters Act (CAMA), 2020, provides for Pre-incorporation Contract.

Section 96 (1) of CAMA, 2020, provides: “Any contract or other transaction purporting to be entered into by the company or by person on behalf of the company prior to its formation may be ratified by the company after its formation and thereupon the company shall become bound by and entitled to the benefit thereof as if it has been in existence at the date of such contract or other transaction and had been a party thereto.”

CORPORATE GUARANTOR (DIAMOND STRIPES LTD)

As demanded by the Enugu State Government, Pragmatic Palms Ltd. provided a guarantor, which is Diamond Stripes Ltd, a reputable and huge company that has done investments worth over $20bn spanning power and renewable energy sector, port sector, and agricultural sector since 2013. Diamond Stripes Ltd. is the sole investor in Onitsha River Port and has invested heavily in the agricultural sector where it is the largest owner of silo complexes in Nigeria. It was involved in the acquisition of 600MW Shiroro Hydroelectric Power plant in 2013, concessions of 30MW Gurara Hydroelectric Power Plant in 2019, and establishment of 300MW Shiroro solar power project in 2021.

SECURING ENUGU STATE’S INTEREST

The state’s interest in the N100BN UPPL deal is well secured, benefitting from Governor Peter Mbah’s experience as an investment finance expert and an entrepreneur, who has handled multi-billion-dollar projects himself. Besides asking for and getting a corporate guarantor on the part of Pragmatic Palms Ltd, the government also demanded for and got bank guarantors from Pragmatic Palms. Importantly, performance targets and timelines were equally set in the Agreement for Pragmatic Palms Ltd. failing which the Enugu State Government is free to revoke the deal and reassume total ownership of United Palm Products Ltd., UPPL.

In addition, the Enugu State Government is represented on the company’s Board, including the Chairmanship of the Board, as part of the steps taken to secure the state’s interest.

MD’S PROFILE

The MD of Pragmatic Palms Ltd., who is also the MD/CEO of Diamond Stripes, George Nwangwu, is a professor of Project Financing Law, who has led transaction teams that have participated in the consummation of over 100 privatisation or Public Private Partnership (PPP) transactions worth over $20 billion across Africa.

Prof. Nwangwu was the Head of Infrastructure Finance at the Ministry of Finance under the leadership of Dr. Ngozi Okonjo-Iweala, during which he led the team that delivered the Second Niger Bridge deal.

He is a Professor of law at Nile University and an Extraordinary Professor at the Department of Mercantile Law, Stellenbosch University. He was appointed a Senior Fellow at the Mossavar- Rahmani Centre for Business and Government, Harvard Kennedy School in 2023 as well as an Honorary Senior Research Associate in the Bartlett School of Construction and Project Management, University College London since 2022; He is the Director General of the Global Centre for Law and Business, Abuja.

CONCLUSION

Clearly, it is a new dawn for the United Palm Products Ltd. to the benefit of the people of Enugu State after decades of rot and neglect. The partnership is promising and the project in good hands.

Tomorrow is here!

Uche Anichukwu
SSA (External Relations) to the Governor of Enugu State

The Socio-Economic Rights and Accountability Project (SERAP), BudgIT and 136 concerned Nigerians have filed a lawsuit against the Central Bank of Nigeria (CBN) “over its failure to withdraw the patently unlawful ‘Circular’ directing all banks and other financial institutions to deduct from customers’ account a ‘cybersecurity levy’.”

This was disclosed in a statement signed by the Deputy Director of SERAP, Kolawole Oluwadare, on Sunday.

The CBN had last week directed banks to implement a levy of 0.5% (0.005) equivalent to half per cent of all electronic transactions, and to remit the levy to the ‘national cybersecurity fund.’ The CBN relied on the Cybercrime Act 2015 [as amended]. The directive is to be implemented by Monday, May 20, 2024.

In the suit number FHC/L/CS/822/2024 filed last Friday at the Federal High Court, Lagos, the Plaintiffs are asking the court to determine “whether the CBN Circular dated 6th May 2024, directing financial institutions to deduct from customers’ accounts a cybersecurity levy is unlawful and therefore ultra vires the CBN.”

The Plaintiffs are also asking the court to determine “whether the CBN Circular dated 6th May 2024, directing financial institutions to deduct from customers’ accounts a cybersecurity levy and section 44(2) (a) of the Cybercrimes Act are not in breach of sections 14(2), 44(1) and 162(1) of the Nigerian Constitution 1999 [as amended], and therefore unconstitutional, null, and void.”

The Plaintiffs are asking the court for “a declaration that the CBN Circular dated 6^th May 2024 directing all banks and other financial institutions to deduct from customers’ accounts a cybersecurity levy is contrary to the provisions of the Cybercrimes Act and ultra vires the CBN, and therefore is illegal null and void.”

The Plaintiffs are seeking “an order of interim injunction restraining the CBN, its office, agents, privies, assigns, or any other persons acting on its instructions from enforcing the Circular dated 6th May 2024, pending the hearing and determination of the motion on notice filed contemporaneously in this suit.”

The suit filed on behalf of the Plaintiffs by their lawyer Ebun-Olu Adegboruwa, SAN, read in part: “The CBN Circular is unlawful and an outright violation of the provisions of the Nigerian Constitution and the country’s international obligations.”

“Unless the reliefs sought are granted, the CBN will enforce its Circular directing banks to deduct from customers’ accounts a cybersecurity levy. Millions of Nigerians with active bank accounts would suffer irreparable damage from the unlawful deduction of cybersecurity levies from their accounts.”

“The provisions of the Cybercrimes Act on payment of cybersecurity levy strictly apply only to businesses listed in the Second Schedule to the Act. These provisions make no reference to bank customers, contrary to the CBN Circular to all banks and other financial institutions.”

“The Nigerian government has a legal responsibility to ensure the security and welfare of the people, as provided for under section 14(2)(b) of the Nigerian Constitution and human rights treaties to which Nigeria is a state party.”

“The CBN Circular is also a blatant violation of Nigerians’ human rights including the right to property guaranteed under section 44 of the Nigerian Constitution and article 14 of the African Charter on Human and Peoples’ Rights to which Nigeria is a state party.”

“We urge the Honourable to grant the reliefs sought in the public interest and the interest of justice as well as to prevent arbitrariness and ensure the rule of law in the country.”

“Any deduction of cybersecurity levy from Nigerians’ accounts would be contrary to the provisions of section 44(2)(a) of the Cybercrimes Act 2015 as amended by the Cybercrimes Prohibition, Prevention etc) (Amendment) Act 2024 and ultra vires the CBN, and therefore illegal, null and void.”

“Section 162 (1) of the Nigerian Constitution provides that all revenues collected by or on behalf of the Government of the Federation are mandatorily required to be paid into the Federation Account save the revenue excepted by the provisions of the section.”

“The National Cybersecurity Fund established by section 44(1) of the Cybercrimes Act 2015 [as amended] into which it is required to be paid the levy of 0.5% chargeable on all electronic transactions instead of the Federation Account is unconstitutional, null, and void.”

“The CBN Circular is a breach and misinterpretation of Sections 44(2)(a) and 58 of the Cybercrimes Act [as amended], in that it purports to incorporate customers of the bank (neither defined by the Act nor designated by the CBN as financial institutions) as those to pay the cybersecurity levy.”

“The Plaintiffs are customers of commercial banks in Nigeria with accounts domiciled with many commercial banks in Nigeria. The CBN is the statutory agency charged with the overall control and administration of the monetary and financial sector policies of the Federal Government.”

“The Plaintiffs are included in the statistics of Nigerians with active bank accounts as the Plaintiffs are owners of accounts in different Banks and other financial institutions.”

“As of 30 April 2024, commercial banks in Nigeria already charge exorbitant fees for electronic transactions, including Electronic Transfer Charges at N53.75 on any amount above N10,000, Stamp Duty of N50 on every transaction and Account Maintenance Charge deducted per month.”

The Plaintiffs are therefore asking the court for the following reliefs:

1. A DECLARATIONthat the Circular issued by the CBN and dated 6^th May 2024 directing all banks and other financial institutions to deduct from customers’ accounts cybersecurity levy is manifestly misleading, extorting and a breach and misinterpretation of the provisions of Section 44, 58 and Second Schedule of the Cybercrimes (Prohibition, Prevention, ETC) (Amendment) Act 2024 and ultra vires the CBN, and therefore is illegal, null and void.
2. A DECLARATION that the Circular issued by the CBN and dated 6^th May 2024 directing all banks and other financial institutions to deduct from customers’ accounts cybersecurity levy and section 44(2)(a) of the Cybercrimes Act are inconsistent with, and a breach of the provisions of Section 14(2), 44 (1) 162 of the Nigerian Constitution 1999 [as amended] and therefore unconstitutional, null and void.
3. AN ORDER setting aside the the Circular issued by the CBN and dated 6^th May 2024 directing all banks and other financial institutions to deduct from customers’ accounts cybersecurity levy, for being misleading, extorting and a breach of the provisions of Section 44, 58 and Second Schedule of the Cybercrimes (Prohibition, Prevention, ETC) (Amendment) Act 2024.
4. AN ORDER setting aside the Circular issued by the CBN and dated 6^th May 2024 directing all banks and other financial institutions to deduct from customers’ accounts cybersecurity levy and section 44(2)(a) of the Cybercrimes Act, for being inconsistent with, and a breach of the provisions of Section 14(2), 44 (1) and 162 of the Nigerian Constitution 1999 [as amended] and therefore unconstitutional, null and void.
5. AN ORDER restraining the Central Bank of Nigeria, including its agents, assigns, privies and or representatives or such other persons acting on its behalf, from enforcing the Circular issued by the CBN and dated 6^th May 2024 against all banks and other financial institutions and their customers.
6. ANY ORDER(S)that the Honorable Court may deem fit to make in the circumstance of this suit.

No date has been fixed for the hearing of the suit.

Channels TV

Kogi State government has announced that some of the kidnapped students of the Confluence University of Science and Technology CUSTECH, in Osara, Adavi council area of the state has been rescued by security operatives in the state.

The stage government made this known in a statement on Sunday signed by the state commissioner for Information and Communication, Mr. Kingsley Fanwo.