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National Theatre: Calzada Petitions CBN, Makes Demands

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Calzada Limited, an investor, has petitioned the Central Bank of Nigeria (CBN), demanding full compliance with concession bid for the National Theatre earlier conducted in 2015.

This is part of crisis arising from the Federal Government’s decision to hand over the facility to CBN, and the Bankers Committee.

Two other companies, Topwide Apeas and Jadeas Trust had gone to court over the facility with the case being slated for hearing on October 29, 2020.

The management of Calzada Limited, in its petition to the apex bank said it participated in a very competitive concession bid conducted by the Federal Government on ‘The Fallow Land around the National Theatre’ and emerged as the ‘Preferred Bidder.’

The Calzada said it had gone ahead after winning the bid, and began setting up structures and facilities for the project before the current government came into office and unilaterally put a wedge on its progress.

The letter dated July 17, 2020, entitled, ‘Re-Concession of the fallow land around the National Theatre in line with master plan (Nigeria Entertainment City)’ and was written by its legal representatives, Elias Mordi and Co.

The letter with subtitle, “Demand for Justice and Compliance with the bid awarded to Caldaza Limited,” reminded the CBN Governor, Godwin Emefiele that after the bidding, contested by seven other companies, the then Minister for Tourism, Culture and National Orientation, Chief Edem Duke, wrote and notified it (Caldaza) of haven emerged as the ‘Preferred Bidder’ for the project.

“Our client was shocked to learn, upon coming into force of the present government that the project has been taken off her shoulders and given to a third party company which never participated in the bidding exercise,” the petition added.

“More worrisome is the wave of news and information through print and electronic media that the federal government of Nigeria through the Central Bank of Nigeria and the Bankers’ Committee have concluded plans to take over and indeed taken over, the same project which was duly awarded to our client which was driven out thereof in a Gestapo matter.

“We can confirm the assertion under this head as have learnt of suit No. FHC/L/CS/2932/2019 Topwides Apeas Ltd Vs National Theatre and National Troupe of Nigeria Board & 6 Ors pending before the Honourable Justice Ayokunle Faji of the Federal High Court, Ikoyi Lagos.

“Government is a continuum. And we, by this letter, and on behalf of our client (Calzada Ltd), call on your office and that of the Hon.

“Attorney General of the Federation which is the Chief Law Office of Nigeria to review the steps taken by the Federal Government of Nigeria and its agencies in this complaint and return the issues, subject matter and premises in question to status quo when our client was awarded the concession of the fallow lands of the National Theatre, Iganmu, Lagos.

“We have overtime, searched every available records and cannot find where the selection of our client was faulted by any rightful authority and more worrisome is the way and manner the whole activities are being handled by persons our client cannot identify in the project.”

It warned that it would not hesitate to activate legal proceedings against all concerned if the grievances were not resolved and on time.


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Corruption: ICPC Threatens Sanctions as 330 MDAs Fail Financial, Governance Tests

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Independent Corrupt Practices and Other Related Offenses Commission (ICPC), has revealed that none of the Ministries, Departments, and Agencies (MDAs), in the country complied fully with ethical standards, policies, and anti-corruption measures in the passing year.

Corruption: ICPC Threatens Sanctions as 330 MDAs Fail Financial, Governance Tests

This was following the findings from the Commission’s Ethics and Integrity Compliance Scorecard (EICS) for the MDAs.

The Commission warned that henceforth, non-compliant MDAs will face necessary actions, including enforcement, to ensure adherence to government directives.

According to the EICS scorecard released on Thursday in Abuja by Demola Bakare, ICPC spokesperson, no MDA out of 330 MDAs that were assessed through physical deployment by ICPC teams achieved full compliance.

The EICS serves as a preventive tool used to assess and enhance the compliance of MDAs with ethical standards, policies, and anti-corruption measures.

Findings from the report indicated that no MDA achieved full compliance, while 29.55 per cent of MDAs captured attained substantial compliance, and 51.62 per cent had partial compliance.

The report also observed that 15.91 per cent showed poor compliance, while 292 per cent were non-compliant.

According to the report, common gaps included a lack of whistle-blower policies, strategic plans, and effective stock verification units, adding that many MDAs failed to conduct any forms of system studies or render financial and audit reports.

Commenting on the report, Bakare noted: “This year, 2024, the tool covered 323 responsive MDAs, with 15 MDAs non-responsive and categorised as high corruption risk.

“It is imperative to inform you that this initiative has yielded some positive and value-driven impacts, and these are, but not limited to, increased awareness and compliance with anti-corruption measures, enhanced competition among MDAs to meet criteria, and improved procurement processes and data reliability.

“The Commission recognises the MDAs with substantial compliance and will continue deploying these tools to promote integrity and accountability.

“Non-compliant MDAs will face necessary actions, including enforcement, to ensure adherence to government directives. We are certain that these efforts will continue to underline ICPC’s dedication to enhancing good governance and preventing corruption.”


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Dangote Refinery Denies Liquidity Challenges, Dismisses NNPCL’s $1Bn Loan Claim

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Dangote Petroleum Refinery and Petrochemicals (DPRP) has dismissed claims that the Nigerian National Petroleum Company Limited (NNPCL) used a $1 billion loan secured through a crude forward sale agreement to support the refinery during a liquidity crisis.

Dangote Refinery Denies Liquidity Challenges, Dismisses NNPCL’s $1Bn Loan Claim

In a statement on Wednesday, Anthony Chiejina, company’s chief branding and communications officer, said the NNPCL’s stance was a distortion of the facts.

“We would like to clarify that this is a misrepresentation of the situation as $1bn is just about 5% of the investment that went into building the Dangote Refinery,” Chiejina said.

Chiejina stated that the refinery’s decision to enter into a partnership with the NNPCL was based on the recognition of “their strategic position in the industry as the largest offtaker of Nigerian crude” and at the time, the sole supplier of petrol into Nigeria.

“We agreed on the sale of a 20% stake at a value of $2.76 billion. Of this, we agreed that they will only pay $1 billion while the balance will be recovered over a period of 5 years through deductions on crude oil that they supply to us and from dividends due to them,” Chiejina said.

“If we were struggling with liquidity challenges we wouldn’t have given them such generous payment terms. As at 2021 when the agreement was signed, the refinery was at the pre-commission stage.”

According to the statement, the agreement would have been cash-based rather than credit-driven if the refinery struggled with liquidity issues.

The refinery’s spokesman said the NNPCL was subsequently unable to supply the agreed 300,000 barrels a day of crude (bpd).

He stated that the shortfall was because the NNPPC “had committed a greater part of their crude cargoes to financiers with the expectation of higher production which they were unable to achieve”.

“We subsequently gave them a 12-month period for them to pay cash for the balance of their equity given their inability to supply the agreed crude oil volume,” he said.

“NNPCL failed to meet this deadline which expired on June 30th 2024. As a result, their equity share was revised down to 7.24%. These events have been widely reported by both parties,” he said.


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9mobile Addresses Recent Service Outages, Apologizes for Inconvenience

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9mobile has apologized for the recent service outages experienced by its valued customers which has affected their ability to provide voice, data, internet services. “We understand the frustration these disruptions have caused and deeply regret the inconvenience.

“Our technical team has identified the root causes of the outages including a fire incident at our Main Data Centre in Lagos last night which severely impacted services especially in the Lagos and South-West.  We are grateful for the swift intervention of the Lagos State Fire Service, which helped prevent further damage.

“Prior to the fire incident, our network experienced major fibre interruptions leading to varying degrees of outages. We had a fibre cut on the backbone links in Lagos which led to a total data outage across the country.

“This was followed closely by two vandalism incidents in Lagos and Abuja, leading to total service outage in South-West and data service outage in the North.  Services have now been fully restored in the North & South-South States while restorations work is ongoing in others. We expect to fully restore services as soon as possible”

At 9mobile, customer satisfaction is remains top priority. “We value the trust you place in us and appreciate your patience and understanding during this challenging time. Customers who continue to experience issues can reach out to our customer service team via our social media touchpoints or our experience centres”.

Once again, we sincerely apologize for the disruption and thank you for your continued support.


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