2015-02-06 16:34
Bayelsa - Pipeline surveillance contractors from Obama, Okoroma in
Nembe Local Government Area of Bayelsa State, have sued Nigerian Agip
Oil Company, claiming N3 billion as damages for breach of contract, Vanguard reports.
The
plaintiffs are claiming in the suit that Agip reneged on a contractual
agreement entered on May 24, 2014 between parties, by opting out of the
contract outside the terms of the contract.
The contract was for a
retainership of surveillance services against oil thieves and pipeline
vandals on Agip’s pipeline network within the Obama Operational Area in
Okoroma, Bayelsa State.
They
are asking the court to direct Agip to pay them N500 million being
arrears for services rendered, for the period between June 2014 and
October 2014, under the terms of the anti-crude oil theft surveillance
agreement.
They also want the court to award the sum of N3
billion damages against the defendants for breach of contract and undue
interference.
Read more at Vanguard
Friday, 6 February 2015
Anatomy of the missing $20 billion
2015-02-06 16:35
Abuja - In late 2013, Nigeria's then central bank governor Lamido Sanusi wrote to President Goodluck Jonathan claiming that the state oil company had failed to remit tens of billions of oil revenues it owed the state.
After the letter was leaked to Reuters and a local news site, Jonathan publicly dismissed the claim and replaced Sanusi, saying the banker had mismanaged the central bank's budget. A Senate committee later found Sanusi’s account lacked substance.
Sanusi has since become Emir of Kano, the country's second highest Islamic authority, and has smoothed over relations with the president. He declined to discuss his earlier assertions. Before he was sacked, though, the central banker submitted to Nigeria’s parliament more than 300 pages of documentation in support of his claim. Reuters has reviewed that dossier, which offers one of the most comprehensive studies of waste, mismanagement and what Sanusi called “leakages” of cash in Nigeria’s oil industry. Detailed here, the dossier includes oil contracts, confidential government letters, private presidential correspondence and legal opinions.
Sanusi’s letter and documents do not state whether he thinks the money was stolen or lost through mismanagement. Nor did he make allegations of illegal acts against any specific individuals or entities. Both corruption and bad governance are perennial problems in Africa’s most populous nation, and central issues in elections due on February 14.
Nigeria’s oil industry accounts for around 95 percent of the country’s foreign exchange earnings. If Nigeria continued to leak cash at the rate described in his letter to the president, Sanusi said at the time, the consequences for the economy would be disastrous. Specifically, the failure of state-owned Nigerian National Petroleum Corporation “to remit foreign exchange to the Federation Account in a period of rising oil prices has made our management of exchange rates and price stability ... extremely difficult," he wrote. "The central bank of Nigeria is always blamed for high rates of interest,” but “given these leakages, the alternative is a devalued currency ... and financial instability."
That is exactly what has happened. As oil prices have plummeted to around $55 a barrel, half their level at the beginning of 2014, Sanusi’s successor Godwin Emefiele has devalued the naira, Nigeria’s currency, by 8 percent, and raised interest rates for the first time in more than two years.
Nigerian foreign exchange reserves are down around 20 percent on a year ago, while the balance in the country's oil savings account has fallen from $9 billion in December 2012 to $2.5 billion at the start of this year, even though oil prices were buoyant over much of that period. Finance Minister Ngozi Okonjo-Iweala told reporters at a press conference in November that a significant portion of that money was distributed to the powerful governors of Nigeria’s 36 states instead of being saved for a rainy day.
Nigerians are rarely shocked by stories of billions going unaccounted for, or ending up with politically powerful individuals. Africa’s largest oil producer has for years consistently ranked towards the bottom of Transparency International’s Corruption Perceptions Index.
Abuja - In late 2013, Nigeria's then central bank governor Lamido Sanusi wrote to President Goodluck Jonathan claiming that the state oil company had failed to remit tens of billions of oil revenues it owed the state.
After the letter was leaked to Reuters and a local news site, Jonathan publicly dismissed the claim and replaced Sanusi, saying the banker had mismanaged the central bank's budget. A Senate committee later found Sanusi’s account lacked substance.
Sanusi has since become Emir of Kano, the country's second highest Islamic authority, and has smoothed over relations with the president. He declined to discuss his earlier assertions. Before he was sacked, though, the central banker submitted to Nigeria’s parliament more than 300 pages of documentation in support of his claim. Reuters has reviewed that dossier, which offers one of the most comprehensive studies of waste, mismanagement and what Sanusi called “leakages” of cash in Nigeria’s oil industry. Detailed here, the dossier includes oil contracts, confidential government letters, private presidential correspondence and legal opinions.
Sanusi’s letter and documents do not state whether he thinks the money was stolen or lost through mismanagement. Nor did he make allegations of illegal acts against any specific individuals or entities. Both corruption and bad governance are perennial problems in Africa’s most populous nation, and central issues in elections due on February 14.
Nigeria’s oil industry accounts for around 95 percent of the country’s foreign exchange earnings. If Nigeria continued to leak cash at the rate described in his letter to the president, Sanusi said at the time, the consequences for the economy would be disastrous. Specifically, the failure of state-owned Nigerian National Petroleum Corporation “to remit foreign exchange to the Federation Account in a period of rising oil prices has made our management of exchange rates and price stability ... extremely difficult," he wrote. "The central bank of Nigeria is always blamed for high rates of interest,” but “given these leakages, the alternative is a devalued currency ... and financial instability."
That is exactly what has happened. As oil prices have plummeted to around $55 a barrel, half their level at the beginning of 2014, Sanusi’s successor Godwin Emefiele has devalued the naira, Nigeria’s currency, by 8 percent, and raised interest rates for the first time in more than two years.
Nigerian foreign exchange reserves are down around 20 percent on a year ago, while the balance in the country's oil savings account has fallen from $9 billion in December 2012 to $2.5 billion at the start of this year, even though oil prices were buoyant over much of that period. Finance Minister Ngozi Okonjo-Iweala told reporters at a press conference in November that a significant portion of that money was distributed to the powerful governors of Nigeria’s 36 states instead of being saved for a rainy day.
Nigerians are rarely shocked by stories of billions going unaccounted for, or ending up with politically powerful individuals. Africa’s largest oil producer has for years consistently ranked towards the bottom of Transparency International’s Corruption Perceptions Index.
Thursday, 5 February 2015
Fire engulfs NTA Zonal office
2015-02-05 13:41
Jos - Fire on Wednesday engulfed the NTA Jos Zonal office located in the very busy Yakubu Gowon Way, throwing the area into confusion as people scurried to escape the raging flames.
The cause of fire, which started at 3.15 p.m. has not been confirmed, but a top NTA source described the fire as mysterious because it started from the top.
Correspondents of the News Agency of Nigeria (NAN), who rushed to the scene, observed that the flames kept worsening as they raged through the top of the building.
The flames from the one-storey structure were visible about 500 metres away from the scene.
Among sections already engulfed by the time NAN reached the scene were the building housing the marketing and finance department of the NTA.
Also gutted down were Engineering and accounts departments, as well as communication items, files and a mass of documents.
Our correspondents also report that three fire fighting vehicles – one PW, a construction firm, and two from the Plateau fire service, arrived at the scene about more than forty minutes and were battling to control the inferno.
Efforts to speak with the NTA management staff were not fruitful as the senior staffers appeared too confused to react.
A top source, however confirmed that no one was caught in the mid afternoon inferno.
Jos - Fire on Wednesday engulfed the NTA Jos Zonal office located in the very busy Yakubu Gowon Way, throwing the area into confusion as people scurried to escape the raging flames.
The cause of fire, which started at 3.15 p.m. has not been confirmed, but a top NTA source described the fire as mysterious because it started from the top.
Correspondents of the News Agency of Nigeria (NAN), who rushed to the scene, observed that the flames kept worsening as they raged through the top of the building.
The flames from the one-storey structure were visible about 500 metres away from the scene.
Among sections already engulfed by the time NAN reached the scene were the building housing the marketing and finance department of the NTA.
Also gutted down were Engineering and accounts departments, as well as communication items, files and a mass of documents.
Our correspondents also report that three fire fighting vehicles – one PW, a construction firm, and two from the Plateau fire service, arrived at the scene about more than forty minutes and were battling to control the inferno.
Efforts to speak with the NTA management staff were not fruitful as the senior staffers appeared too confused to react.
A top source, however confirmed that no one was caught in the mid afternoon inferno.
Delaying polls may benefit Boko Haram – report
Jonathan has been criticised for failing to end the violence unleashed by Boko Haram over the years. His rival Muhammadu Buhari, on the other hand, has made security the cornerstone of his campaign.
"If Boko Haram continues with its campaign of deadly bombings — a female suicide blew herself up in the north-eastern state of Gombe on February 2 — a delay in elections might actually harm Jonathan's chances," the report said.
Foreign powers
The report comes as INEC commissioner Amina Zachary told Reuters on Wednesday that the elections may be delayed over fears that not enough registered voters would be able to cast their ballots.
"Let's see how the PVC (permanent voter card) distribution goes by February 8, then maybe," Zachary, said.
She, however, made it clear that no decision had been taken.
INEC extended its deadline for voters to collect their cards to 8 February, but only 44 million out of 68.8 million have been distributed so far, with just 10 days to go before the poll.
Foreign powers are closely observing how elections will be held in the country and have voiced concerns over violence in the aftermath, as was the case after the 2011 election, when 800 people died.
A delay would stoke already rising tensions ahead of the vote, but failure to get enough cards out would also compromise the poll.
Row over Jonathan Ph.D thesis deepens
Several attempts to persuade the university to make available Jonathan’s Ph.D thesis have proved abortive.
Efforts to also locate the thesis in either the school’s library or the Zoology department were also unsuccessful.
Since the story of Jonathan not possessing a doctorate degree became a public knowledge, many Nigerian have besieged the university in search of the thesis.
Prof. Tam David- West, a former Minister of Petroleum Resources is one of those who have requested to see the thesis but has been unable to lay his hands on it.
Read more at NewsDay.
Two artisans die in septic tank in Ibadan
2015-02-05 12:38
Ibadan - Two artisans, a bricklayer and vulcaniser, on Wednesday lost their lives in the process of evacuating a septic tank at Oremeji area, Mokola, Ibadan.
The two men fell into the septic tank and died before help could get to them.
An eye witness, Akamo Oladimeji, who identified the victims as Wasiu and Solomon respectively, said that they were invited by the residents of the house to evacuate their septic tank.
Oladimeji said one of the deceased was trying to pour some chemicals into the soak-away before evacuation when he fell inside.
"While trying to rescue him, the second man fell inside as well.
"There was a third person with them but he escaped death because he had gone in search of a pumping machine they needed for the evacuation.”
Oladimeji said that the victims were not experts in evacuating septic tanks, but they decided to do the job to earn extra money.
DSP Adekunle Ajisebutu, Police spokesperson, Oyo state Police command, who confirmed the incident, said that policemen were immediately dispatched to the scene of the incident when it was reported.
Ibadan - Two artisans, a bricklayer and vulcaniser, on Wednesday lost their lives in the process of evacuating a septic tank at Oremeji area, Mokola, Ibadan.
The two men fell into the septic tank and died before help could get to them.
An eye witness, Akamo Oladimeji, who identified the victims as Wasiu and Solomon respectively, said that they were invited by the residents of the house to evacuate their septic tank.
Oladimeji said one of the deceased was trying to pour some chemicals into the soak-away before evacuation when he fell inside.
"While trying to rescue him, the second man fell inside as well.
"There was a third person with them but he escaped death because he had gone in search of a pumping machine they needed for the evacuation.”
Oladimeji said that the victims were not experts in evacuating septic tanks, but they decided to do the job to earn extra money.
DSP Adekunle Ajisebutu, Police spokesperson, Oyo state Police command, who confirmed the incident, said that policemen were immediately dispatched to the scene of the incident when it was reported.
Civil groups alert on plot to remove Jega
The group also raised an alarm over plans to to have the elections shifted.
The plot according to the group is to declare INEC unfit to manage the elections, thereby leading to its postponement.
Saudatu Mahdi, who spoke on behalf of other members of the group, said those pushing for the postponement want to use the alleged lapse in the distribution of the Permanent Voter Cards (PVCs) as the reason why the elections should be shifted.
Read more at The Nation.
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