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Group Asks Buhari to Sack Fashola, Others for Non-Performance

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Babatunde Fashola, Minister of Power Works and Housing

Centre for Anti-Corruption and Open Leadership (CACOL), a community-based and civil society organisation has called on President Muhammadu Buhari to urgently rejig his cabinet and as a matter of urgency sack Babatunde Raji Fashola, minister of Power, Works and Housing for making more noise than he worked since he came on board.

It also recommended the immediate removal of Kemi Adeosun, minister of Finance; Ibe Kachikwu, petroleum; and Abubakar Malami, AGF.

CACOL in a statement issued by Debo Adeniran, executive chairman,  noted that it was glaring that “after about two and a half years since the inauguration of this government, certain patterns have unfolded that have exposed mediocrity and incompetence within the ranks of the cabinet members with regards to their performances in lines of the duties assigned to them.”

He said, “The Federal Ministry of Power, Works and Housing: The Ministry superintended over by Mr. Raji Fashola, (SAN), have over the past years made more noise than any practical achievement on the ground to justify the funds that has been ploughed into the three sectors under it. All the actions and policies of the Ministry have compounded the sufferings of Nigerians in multi-folds; from lack of power supply to the illogical hike in electricity tariffs, from continually decaying infrastructure to death traps as roads with a Housing sector that is ‘non-existent’ or in absolute comatose.

“The Minister is constantly at loggerheads with institutions, contractors and even the citizenry he is supposed to serve. The Minister keeps standing logic on its heads by asking the already impoverished Nigerians to bear the brunt of his failure by asking them to pay for services not rendered even up to the effrontery of hiking the tariff of electricity against a background of a country in perpetual darkness. He made history by achieving the lowest, ZERO, mega watts for more than 18 hours in history of power generation in Nigeria last year; with nothing to offer than damage, we call on Mr. President to ask him to honourably resign or he should be sacked!

“We recommend the immediate replacement of Mr. Malami Abubakar as the Attorney General of the Federation and Minister of Justice of this country to save this government and the country from further embarrassment and criticisms within the comity of nations. The mantra of this government and one of the campaign cardinal points of its party is ‘fight against corruption’. For any government to succeed in its policies, programmes and agenda, the commitment, professionalism, soundness and integrity of the Chief Law Officer of that government must be impeccable and consistent. We are afraid, based on recent happenings, the current Attorney-General and Minister of Justice has fallen short of these critical requirements and incapable of delivering any fundamental departure from the corruption ridden past of governance in the country.

“We noted the AGF’s unnecessary interventions particularly in cases high profile publicly exposed persons and the needless ‘rivalry’ with the Economic and Financial Crimes Commission, EFCC, an agency under his Ministry and which ordinarily reports to him officially. The Attorney-General was publicly accused of meeting, negotiating, agreeing terms and collecting N50 billion on behalf of the government without recourse to both the regulatory agency and supervisory ministry last year. Local and international criticisms greeted the unprofessional conduct of the Minister and secrecy associated with his negotiation with MTN. These reasons, amongst others necessitate our call for the removal of the AGF and Minister of Justice.

“The Minister in charge of the Federal Ministry of Finance and Economic Development, Mrs. Kemi Adeosun has been everything but impressive and constantly appears to be confused on policies and in-depth economic management. The economic terrain under her watch is riddled by contradictions, policy somersaults and uncertainties. It is our conviction that it is the concerted efforts of the Central Bank and other MDAs trying to diversify, particularly the Agriculture Ministry and with the increase in the price of oil that helped pulled Nigeria out of recession recently and not via the acumen of the Finance Minister. We recommended that she should be replaced with better competence and prowess.

“The Federal Ministry of Petroleum Resources under the superintending Minister of State, Dr. Ibe Kachikwu has no concrete achievement to showcase 2 years after the inauguration of this government. All the lofty promises of performance including making the refineries functional within 6 months and building of new ones given by the Minister at the assumption of duty has fallen flat on their faces, just as Nigeria sadly still import refined petroleum products. At this rate, this situation will persist till this tenure lapses, which will be totally unfortunate and unacceptable, thus it is time to replace the Minister for someone with greater acumen, necessary will and skills.

“Quintessentially, we call on you, Your Excellency to relieve yourself of the position of the Minister of Petroleum Resources immediately. This is allow you to concentrate fully on the wholesome administration of the government which clearly can only be done conscientiously by your esteemed self and against the background of a National Assembly that apparently lacks diligence in its oversight functions preferring the mundane for the significant, it becomes expedient. We urge that you concentrate your energy on supervisory roles over all Ministries and the Presidential leadership of the country while a substantive Minister is appointed for the Petroleum Resources Ministry.

“Your Excellency, as a matter of fact we recommend changes in almost all other Ministries; they are either prostrate or in comatose, some are even approaching non-existence in status. Nigerians can hardly tell what the Ministries of Education, Health, Aviation, Commerce and Industry, Solid Minerals Development etc. are doing in these very challenging times for the country. They all appear to have gone to slumber following the lack of clue on what to do.”

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Samsung in N65m Copyright Infringement Suit in Nigeria

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Eagle Eye Production Limited, an Abuja-based production company has slammed N65 million lawsuit against Samsung Nigeria and Ringier Media Nigeria Limited for allegedly using a part of its ‘Lekki-Ikoyi Link Bridge at Night’ video in a Galaxy S8 advert without authorization.

 

Samsung had, after receiving the lawsuit, claimed it had no knowledge of the creative process of the ad, as it outsourced the job to one Cheil Communications Nigeria Limited.

 

Cheil Communications, in turn, claimed it outsourced the job to Ringier Media Nigeria Limited.

 

At the first hearing on the lawsuit on May 3, before Justice Hassan of the Federal High Court sitting in Ikoyi, Lagos, Ringier Media’s Counsel applied to strike out the suit, claiming that the court lacked jurisdiction to entertain the suit because Eagle Eye in suing Ringier Media omitted the word ‘media’ in its name.

 

Ringier Media also argued that the suit did not disclose a reasonable cause of action against it.

 

Mrs. Abimbola Akeredolu (SAN) however, prayed the court to dismiss Ringier Media’s application with substantial cost on the basis that the omission of the word media from Ringier Media’s name is “a misnomer” and that the suit disclosed a reasonable cause of action against Ringier Media.

 

The learned Silk also pointed out that the omission of the word “media” was infact caused by Ringier Media and its counsel who in various correspondences exchanged prior to the suit represented to Eagle Eye’s counsel that the full name of Ringier Media is Ringier Nigeria Limited instead of Ringer Media Nigeria Limited.

The learned Silk also pointed out that Ringer Media’s counsel also described its client’s name as Ringier Nigeria Limited in the conditional memorandum of appearance filed by the said counsel on Ringier Media’s behalf.

 

On the same day, Eagle Eye’s Counsel also moved an application to amend their Writ of Summons and other accompanying originating processes to reflect the proper name of Ringier Media.

 

Court proceedings were witnessed by a Newsroom correspondent when Justice Hassan gave his ruling on Monday, June 2, 2018.

 

On Ringer Media’s application to strike out the suit, the learned judge held on the first leg, that the omission can be treated as a misnomer and representatives for the plaintiffs are allowed to file an application for amendment.

 

“There is no kind of mistake or error which the court cannot correct, except it is intended to cause injustice to a party. The omission can be corrected without causing injustice to the other party,” he ruled.

 

The Learned judge also held on the second leg, that looking at certain paragraphs in Eagle Eye’s Statement of Claim, the court is satisfied that a reasonable cause of action has been disclosed against Ringier Media.

 

The learned judge thereafter dismissed Ringier Media’s application and awarded cost of N20,000 in favor of the Plaintiffs against Ringier Media.

 

On Eagle Eye Production’s application to amend, the learned judge ruled that representatives for Eagle Eye Production Limited were misled by Ringier Media.

 

He made references to the exhibits submitted by the legal counsel for the Eagle Eye, where it was established that Ringier Media Nigeria Limited described itself only as Ringier Nigeria in various correspondences. Thus, the learned judge reiterated as follows:

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ITB Nigeria Set to Complete its First Steel & Concrete Building

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ITB Nigeria Ltd, innovative construction company providing full and advanced integrated engineering and construction solutions in both private and public sectors, is set to complete its first steel & concrete building project, Azuri Peninsula, in Eko Atlantic City, Lagos state.

The Azuri Peninsula project, which began in early 2015, is a unique steel and concrete residential building project that consists of three sets of over 30 storey towers.

It offers a unique collection of four-bedroom luxury and super luxury apartments, two and four-bedroom stunning Marina Town houses as well as s six-bedroom simplex (penthouses).

Commenting on the project, Mr. Ramzi Chidiac, Managing Director of ITB Nigeria, said, “We are excited about this project because it’s our first composite structure created by a combination of steel and concrete to form a single element.

This helps to deliver performance that is more effective than when individual components are used together but not unified. This testifies to the excellent work that we do at ITB Nigeria.

We are focused on fully understanding the needs of our clients and delivering on our promises, regardless of the scale or complexity of the challenge at hand”.

Steel and concrete structures involve a mix of steel and concrete together to form a single element. The tensile capacity of the steel and the compressive capacity of the concrete results in a standard structure.

This gives rise to benefits like speed, performance and value. Additionally, concrete encasement protects the steel from buckling, corrosion and fire.

On his part, Engr. Emmanuel Adeyemi, QA/QC Coordinator, ITB Nigeria,  stated, ‘the uniqueness of composite structures is that it enhances speed of construction, performance and value.

Steel framing for a structure can be erected quickly and the pre-fabricated steel floor decks can be put in place immediately.

When cured, the concrete provides additional stiffness to the structure, making the structure one that can stand the test of time”.

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BoI Secures $750M Afreximbank Loan at Single Digits for MSMEs

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Bank of Industry (BoI) will be disbursing the $750 million (N250 billion) syndicated loan facility which she received from the African Export-Import Bank (Afreximbank) to Micro, Small and Medium Enterprises at single digit interest rate.

Mr Olukayode Pitan, Managing Director, Bank of Industry, made this disclosure on the last day of the Afreximbank 25th Anniversary and Annual General Meeting during an interview with journalists in Abuja.

Pitan revealed that “the loan will be given to entrepreneurs in Nigeria for a period of between five and seven years, would enable the BoI bridge the funding gap for MSMEs which estimated at about N700 billion.”

This fund he said would be “given to companies operating in the creative industry, manufacturing and gender based businesses to help reduce the unemployment rate in the country and create wealth for small and medium scale entrepreneurs.

“We are looking at small, medium and large enterprises. We are looking at enterprises or companies that have a focus in using local raw materials, companies that generates that generates employment and bring down their cost of borrowing” he said.

Pitan stated that “the loan will be deployed at less than ten per cent interest per annum. We are working with the Central Bank of Nigeria so that the loan we will give to Nigerian businesses will be a longer term loan of between seven to eight years for the industrial sector.”

The landmark deal was signed off in the presence President Muhammadu Buhari who insisted on witnessing the agreement signing ceremony in Abuja because the N250 billion syndicated facility financed by 16 banks (among which are: Africa Export-Import Bank, the ECOWAS Bank for Investment and Development,  and British Arab Commercial Bank Plc and four Nigrrian banks based in the United Kingdom) is the single largest facility of its kind to be received by a Development Finance Institution (DFI) in Nigeria.

According to Pitan, “the idea is to support industries. What this loan allows us to do is, it gives additional N250 billion depending on the exchange rate that is used, between N230 billion to N250 billion to deploy to the industrial sector.

There is gap in the funding of the industrial sector, to the tune of N704 billion. This is our way to reduce that gap.”

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