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Interstella Demands $285m Judgment Sum from CBN

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Godwin Emefiele, Governor of the Central Bank of Nigeria
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Interstella Communications Ltd., a communications firm, has told the Central Bank of Nigeria (CBN) to obey a Supreme Court order by paying them $285 million judgment sum for alleged breach of contract.

 

The Supreme Court of Nigeria had in a judgment delivered on Dec. 15, 2017 in Appeal No. SC 500/2014 ordered that $285 million be paid to Insterstella Communications Ltd. and Mr Obi Thompson.

 

Addressing newsmen, Mr Tony Nnadi, the coordinating counsel for the judgment creditors (Interstella Communications and Thompson) said that several efforts had been made to ensure that CBN complied with the judgment of the apex court but to no avail.

 

“The judgment creditors find it inconceivable that a straightforward matter such as a breach of commercial contract agreement has gone through the full gamut of legal adjudication in Nigeria.

 

“It has gone all the way to the apex court of Nigeria because they have allowed it to degenerate to this kind of controversy.

 

“This could aggravate existing concerns in the international community over the integrity of our national institutions and the operation of the rule of law in Nigeria,” Nnadi said.

 

He said that the CBN had refused to respond to three letters of demand written to Mr Godwin Emefiele, the Governor of the CBN.

 

According to Nnadi, as a result, the judgment creditors will take an alternate action to receive the judgment sum from the apex bank.

 

“The judgment creditors are deliberately being forced to take inevitable measures offshore, to compel the Federal Government and the CBN to obey the orders of their own sovereign supreme court,” he stated.

 

According to court documents made available to newsmen, the judgment creditors had sued the Nigerian Telecommunications Ltd. (NITEL) at the Federal High Court Umuahia in Abia in suit No. FHC/UM/CS/04.

 

The suit was instituted for alleged breach of the terms of a telecommunications contract and damages and judgment was delivered in favour of the judgment creditors on Nov. 6, 2007.

 

In October 2008, the judgment debt stood at N23 billion and $48 million and an inter-ministerial committee was set up by the Federal Government for amicable settlement of the judgment debt.

 

As a result, Interstella Ltd. and Thompson (judgment creditors) accepted N12 billion as full and final settlement of the judgment debt.

 

With the consent of the Federal Government (FG) and the Attorney-General of the Federation (AGF), the sum N12 billion was entered as consent judgment in court.

 

The judgment creditors alleged that the FG and AGF reneged on the agreement by paying less than 30 per cent of the judgment sum.

 

Due to the alleged failure of the FG to pay the full judgment sum, Interstella Communications Ltd. and Thompson launched garnishee proceedings against the FG and AGF, which was made absolute by the High Court.

 

The CBN, which was to pay the judgment sum, however, appealed the High Court judgment at the Court of Appeal.

 

But,  the Supreme Court and the Court of Appeal dismissed the appeal, upholding the judgment of the trial court.


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Cabals Still Fighting our Refinery – Dangote

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Aliko Dangote, Africa’s richest man and president of Dangote Refinery, has insisted that the ‘cabal’ in Nigeria’s oil and gas sector is still fighting against the success of his 650,000 barrels per day plant.

Cabals Still Fighting our Refinery – Dangote

Aliko Dangote

Dangote disclosed this, according to Semafor, a global news platform, at an investor forum in Lagos at the weekend.

He said, “For a very, very long time, those that have made a lot of money from government-subsidised oil imports into Nigeria were the ones trying to sabotage the $20 billion worth of refinery situated in Lekki, Lagos.”

He further stressed that “those groups have funded resistance to the Bola Tinubu government’s removal of petrol subsidies and are opposed to the refinery operating easily in the country.”

However, Dangote was confident that the battle between him and the groups would be won, priding himself on being a long-time fighter.

“We’re fighting, and the fight is not yet finished. But I have been fighting all my life, and I am ready and 100 percent sure I will win at the end of the day,” he was quoted.

Recall that Dangote Refinery kicked off the sale of petrol in September 2024, which had led to a significant drop in fuel imports into Nigeria.

In May 2023, President Bola Ahmed Tinubu announced the removal of the fuel subsidy during his inauguration speech.


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NPAN Hails Tribunal’s Ruling on FCCPC’s $220M Fine Against Meta

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Newspaper Proprietors’ Association of Nigeria (NPAN) has welcomed the decision of the Competition and Consumer Protection Tribunal (CCT) upholding the $220 million fine imposed on Meta Platforms Inc. by the Federal Competition and Consumer Protection Commission (FCCPC).

In a statement signed by its President, Mal. Kabiru A. Yusuf, and General Secretary, Mrs. Angela Emuwa, NPAN described the ruling as a significant milestone in Nigeria’s efforts to enforce digital accountability and protect the rights of its citizens.

“The decision affirms the importance of compelling global digital platforms to adhere to Nigeria’s laws and respect the rights of users,” the association said.

NPAN noted that the fine, resulting from a 30-month investigation spanning 2021 to 2023, was imposed due to Meta’s alleged unauthorized data sharing and discriminatory practices affecting Nigerian users.

The association also emphasized that Nigeria’s regulatory action aligns with global trends, citing similar penalties imposed on Meta in Europe, as well as actions against other tech giants such as Amazon, TikTok, Google, and Apple.

As an advocate for media freedom and fair digital practices, NPAN reaffirmed its commitment to safeguarding intellectual property and ensuring fair remuneration for publishers in the evolving digital landscape.

It further urged sustained collaboration among government agencies, civil society, and industry players to strengthen Nigeria’s digital regulatory environment.


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NITDA, RHI, Commission IT Community Centre in Ibadan

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L-r: Kashifu Inuwa CCIE, DG, NITDA; Wife of Oyo State Governor Engr (Mrs) Tamunominini Makinde; Oyo State Governor, Engr. Oluseyi Makinde; Sen. Oluremi Tinubu, First Lady Federal Republic of Nigeria; Dr Bosun Tijani, HM, Communications, Innovation and Digital Economy; former Minister of Trade, Chief (Mrs) Onikepo Akande and Ooni of Ife, Oba Adeyeye Enitan Ogunwusi.
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The National Information Technology Development Agency (NITDA), in partnership with the Renewed Hope Initiative (RHI), has officially commissioned a state-of-the-art IT Community Centre in Ibadan, Oyo State, as part of ongoing efforts to bridge the digital divide and empower youth and women across the state.

The centre, which was donated to Oladipo Alayande School of Science in Oke-Bola, Ibadan, Oyo State, was named in honour of Mrs. Onikepo Akande, a distinguished daughter of Oyo State, and is aimed at providing digital skills training, particularly for women and young people. It is expected to offer participants a competitive edge in the evolving global tech industry.

Her Excellency, the First Lady of the Federal Republic of Nigeria, Senator Oluremi Tinubu CON OON, delivered special remarks at the event, emphasising the centre’s role in achieving one of President Bola Ahmed Tinubu’s key priority areas which is to accelerate economic diversification through digitisation, industrialisation, innovation, and the creative arts.

She disclosed that the commissioning of the centre is a step forward in the collective mission to empower Nigerians, especially women and youth, with the skills needed to thrive in a digital economy.

“We are not stopping here. I am pleased to announce that ten more IT Centres will soon be commissioned across various states,” she added.

While noting that other digital economy centres have been fully equipped with computers and ICT materials in 5 other states, she urged members of the community to take full ownership of the centre.

She said, “The success of this centre depends on your active participation and utilisation of available resources.”

The Oyo State Governor, Engr. Oluseyi Makinde, who delivered a goodwill message during the event, praised NITDA and RHI for bringing the initiative to the state.

He highlighted the high standards of the facility and pledged the state government’s support to ensure its sustainability and maximum impact on the people of Oyo State.

“Information Technology, Artificial Intelligence, that is the road to the future, and I am glad that under the Renewed Hope Initiative, you’ve brought this to Oyo State, and I can give you the assurance that we will take full advantage of it,” he promised.

In his remark, the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani stated that the centre will serve as an avenue for youths to acquire globally relevant digital skills, build startups and create solutions that can compete on the global stage.

While giving his welcome remarks earlier, the DG NITDA, Kashifu Inuwa, described the collaboration with the Renewed Hope Initiative as a strategic intervention to boost Nigeria’s digital talent pool.

He explained that the Ibadan IT Community Centre is equipped with cutting-edge technologies designed to provide a smart and personalised learning experience and lauded Senator Tinubu for her leadership and passion for empowering underrepresented groups.

“Your Excellency’s vision and commitment have been instrumental in actualising this initiative. You are giving Nigerians the tools to unlock their potential in the digital economy,” he said.

Noting that the newly commissioned centre is part of a broader national agenda to enhance digital literacy, reduce unemployment, and foster innovation-driven development across the country, Inuwa disclosed that the agency has worked with the Ministry of Education to develop digital literacy and skills curriculum that will be infused as part of the formal education in schools.

While encouraging the school administrators and community leaders to ensure its accessibility and sustainability, the NITDA DG said, “The centre is open to all, and we want to see a cross-pollination between the school and the community.”

 


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