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Home Blog Page 5175

As Petroleum Marketers Alert Nigerians Over Fuel Crisis

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The Independent Petroleum Marketers Association of Nigeria (IPMAN) has told Nigerians to prepare for the worst fuel crisis.

To avoid this, IPMAN asked the Federal Government (FG) to prevail on the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to pay its members their outstanding ‘bridging claims’ amounting to over N500 billion.

The IPMAN chairman in Kano State, Bashir Danmalam, made the remarks while addressing a news conference in the State on Monday, 9th May 2022.

He disclosed the failure of the NMDPRA to pay the bridging claims, otherwise known as transportation claims, had forced many of its members out of business as they couldn’t transport the commodity due to high cost of diesel.

Mr Danmalam lamented that non-payment of the claims by NMDPRA for over eight months had crippled the businesses of many of their members as they couldn’t transport the commodity even though it was available.

He said, “NMDPRA is responsible for the payment of bridging claims otherwise known as transportation claims For failure of the NMDPRA to pay the outstanding claims for about nine months, many marketers cannot transport the product because their funds are not being paid. Despite the high price of diesel, they manage to supply the petroleum products nationwide.

“The resurfacing of fuel queues in Abuja is just a tip of the iceberg with regard to the petroleum scarcity. Out of 100 percent, only five per cent of the marketers can supply the petroleum products because of the failure of NMDPRA to pay them.”

He frowned that since after the amalgamation of DPR, PEF, and PPRA, to form NMDPRA, the agency had paid them only two times.

Danmalam, therefore, called on the FG to intervene before the situation degenerates into a serious fuel crisis and spreads to other parts of the country.

“As leaders, we have to come out to say the truth because our members are suffering from the failure of the agency to pay the fund. This Petroleum Equalisation Fund is our own money we contribute to each litre. This agency is doing more harm than good to us.”

He asked Nigerians not to blame their members for the fuel scarcity, but rather ascribe it to NMDPRA.

“We are not agitating for a transportation fee increase, we are only clamouring for payment of our bridging claims that amounts to over N500 billion.” he added.

Without mincing words, Nigeria’s authorities are just bunch of clowns, to assert the least. Nigerians were notified by the NNPC barely 24 hours ago that the resurfaced fuel scarcity in Abuja was attributed to low load-outs of petroleum products owing to the long public holidays.

I wonder why these authorities enjoy playing pranks on the country’s citizenry. They are unwittingly making our young ones believe that prank is an acceptable act or behaviour. They have never informed, and can never inform, the general public the actual cause of any ongoing crisis in any part of the country.

The resurfaced fuel scarcity signifies that another phase of hunger looms in Nigeria. Nigerians are apparently living not unlike slaves in their own land. That is exactly the situation they have been subjected to, by their leaders. The worst is, they are ‘suffering-smiling’. How did we get here?

As another phase of the fuel crisis looms, it’s pertinent to note that what the system candidly needs is overhaul. 

ASUU Extends Strike By 12 Weeks in Nigeria

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The Academic Staff Union Of Universities, ASUU has rolled over its ongoing strike for another 12 weeks. The president of the union, Prof. Emmanuele Osodeke, in a statement signed, disclosed that the rollover was to give the government ample time to satisfactorily resolve all outstanding issues.

He further disclosed that the roll-over was effective from May 9, 2021.

The statement reads, “After extensive deliberations, noting the government’s failure to live up to its responsibilities and speedily address all the issues raised in the 2020 FGN/ASUU Memorandum of action (MOA) with the additional eight week roll-over strike period declared on 14th March 2022, NEC resolved that the strike be rolled over for twelve weeks to give government more time to satisfactorily resolve all the outstanding issues. The roll-over strike action is with effect from 12.01 am on Monday, 9th May 2022″.

It is disheartening seeing the way the future of young Nigerians is toiled with. Public universities have remained closed for 3 months now, and then, here comes another strike extension for 12 weeks. Rather than treat the demands of ASUU with urgency, so that students can quickly return to the classroom, these political classes are busy purchasing expressions of interest and nomination forms worth millions of naira, in preparation for the 2023 elections.

They are more interested in their selfish interest, to the detriment of the future of the Nigerian youths. They have refused to develop the educational sector in the country, meanwhile, their wards attend world-class universities in Europe. On countless occasions, they shuttle to Europe to celebrate the graduation of their children, grinning without shame, while the educational sector in the country is in shambles. What a shame!

This is nothing but insensitivity, incompetence, and irresponsibility of the ruling class. The result of the neglect of the educational sector has taken a great toll on the economy, coupled with so many negative effects on society.

While the Nigerian government has been putting measures in place to improve the economy of the country, they fail to understand that the incessant strike action in public universities is counterproductive. The neglect of the educational system will make it very difficult for the country’s economy to blossom. No great economy in the world, improved without a sound educational system.

It is sad to note that perennial strike action has become a part and parcel of Nigerian public universities, hardly a year passes without ASUU either threatening to go on strike or embarking on strike. The distorted learning process of public university students is one of the main reasons why universities in the country continue to churn out a large number of half-baked graduates, who add very little effort to the country’s economic growth and development.

As a result of these incessant strike actions, the social vices in society have drastically increased. A lot of youths out of idleness go-ahead to engage in cyber fraud(Yahoo Yahoo), prostitution, ritual killings, Arm Robbery, etc. It’s high time the government understands that as a result of not meeting the demands of ASUU, a lot of youths have had their lives ruined.

The legal implications of standing as surety for bail

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A client called me earlier today to ask me about the legal implications of him standing in as guarantor for the bail of a friend who was arrested by the Economic and Financial Crimes Commission (EFCC) for money laundering, tax evasion, and other related offenses.

He is worried about making such a commitment of using his house as bail security and also depositing his international passport with the EFCC which are some of the requirements for standing as a guarantor or surety for the accused person and according to him, he is not quite close to the friend and cannot vouch that once he is granted bail he won’t try to flee the country.

Bail simply put is the temporary release of an accused person who is awaiting trial, sometimes on the condition that a sum of money or other properties is lodged to guarantee their appearance in court or always present themselves to the law enforcement agencies whenever they are called upon and that a person (or persons) stands as a guarantor for the accused person.

Sometimes, individuals get asked by friends, colleagues, and families to stand in as a guarantor or surety for their bail and some people do not really appreciate the legal implications of standing in as a guarantor or surety for an accused person.

Before you stand in as a guarantor or surety for an accused person, you need to ask yourself if you trust that the person you standing in for as a surety will not flee the country or abscond when granted bail or will he always be available whenever he’s called upon. If you are not sure about these then don’t do it because you will be putting yourself into a problem.

Know that a surety undertakes to provide security for the release of the accused and as well promises that the accused honors the terms of the bail agreement by appearing in court as required. This implies that if the accused person elopes or decides to jump bail, you as the guarantor will be held responsible and it’s either you provide the accused or you will be made to lose your guarantor’s sum or any other security you deposited, in some cases, you could be arrested or detained till the accused person presents himself.

So the professional legal advice on this is that you should only accept to stand as a surety or guarantor to an accused person when you are sure that the suspect will not jump bail or disappear because if the suspect absconds or “jumps bail” then you the surety forfeits the security you provided for the bail.

 

Nigeria 2023: Emefiele And The Court Suit Over Presidential Ambition

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A Federal High Court in Abuja, the Nigeria’s capital territory, has on Monday, 9th May 2022 ordered the Independent National Electoral Commission (INEC) and Attorney-General of the Federation (AGF) to appear before it on May 12, 2022 to explain why the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele should be disqualified from running for the country’s Presidential position in 2023.

It’s noteworthy that Emefiele had earlier filed a suit at the court, asking the arbiter to restrain the INEC and the AGF from disqualifying his presidential ambition.

Rumours have been making the rounds, for months now, that Emefiele was willing to join partisan politics. The campaign posters of the CBN boss were spotted everywhere at the venue of the ruling All Progressives Congress (APC) national convention, which was held in March this year.

The speculations were further made popular after a video showing several cars branded with ‘Emefiele for President’ went viral on the social media.

Emefiele’s lawyer, Mike Ozekhome reportedly applied for an order of ‘status quo ante bellum’ to be made against the INEC and AGF, so that the CBN Governor would not be made to resign from office until 30 days to the general election, as stipulated in the Nigeria’s 1999 Constitution, as amended.

In an ex-parte application argued on Monday, 9th May 2022, Emefiele denied being a political appointee but a Public servant, hence not caught by section 84 (12) of the new Electoral Act, 2022.

It could be recalled that the aforementioned section of the amended Electoral Act summarily stipulates that no ‘political appointee’ would be eligible to vote, or be voted for, at the Congress or Convention of any political party in Nigeria.

The CBN Governor asked the court to invoke section 318 of the 1999 Constitution to bar the defendants from asking him to vacate office, until 30 days before the February 2023 Presidential election.

Emefiele expressed apprehension that sale and submission of the presidential nomination form would expire on Wednesday, 11th May 2022 and that unless the INEC and AGF are ordered to maintain ‘status ante bellum’ as at May 5 when he filed the suit, he would be made to vacate office before his form would be accepted by the appropriate authority.

However, in a brief ruling, Monday, Justice Ahmed Ramat Mohammed turned down the request for the order, hence ordered him to put the defendants on notice and also serve court processes on the defendants.

Justice Mohammed ordered the defendants to appear before him on May 12 and show cause on why the request should not be granted.

In the suit marked FHC/ABJ/CS/610/2022 instituted on his behalf, 5th May 2022, by the Constitutional lawyer, Ozekhome, the defendants were the INEC and the AGF.

The plaintiff had in the originating summon prayed an order of the court that, he cannot be hindered, stopped or precluded from participating, voting or being voted for at the congress or prevention of any political party of his choice for the purpose of the nomination of candidates for the election to the office of President or any other office under the Constitution of the Federal Republic of Nigeria.

The court suit obviously marked the end of the myriad of speculations, hence strongly informing the general public that Emefiele is truly aspiring for the number-one position of the country come 2023.

One may then wonder why the CBN boss, over the weekend, denied that no presidential Nomination and Expression of Interest forms were bought on his behalf by some support and interest groups; knowing full well that the forms were allegedly purchased after he had filed the suit at the law court.

Without equivocations, Emefiele’s attitude of speaking from both sides of his mouth goes a long way to indicate that he’s ridiculing his personality and the position he presently occupies.

I wonder how Emefiele intends to carry out political campaigns over his presidential ambition while still occupying his current post as the country’s CBN Governor. What is really wrong with Africans; are we under spell or something?

The request by sane Nigerians is very simple; Emefiele ought to jettison his current position and pursue his political aspiration. He can’t be playing active and partisan politics, and still occupies such a critical and sensitive post as the governor of the country’s apex bank.

It’s indeed high time Emefiele stopped playing on the intelligence and intellectual ability of over 200 million Nigerians.

Thank you Fidelity Bank Plc for the Support to Tekedia Institute

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Good People, I just want to thank Fidelity Bank PLC for the support the bank has provided to our business. When a big bank likes you, confidence rises. Tekedia Institute thanks Fidelity Bank for your support.

Good People, it is Fidelity, it keeps its words. Bank with a bank that keeps its words so that it will keep supporting the Institute.  We wish Fidelity Bank open markets and more wins ahead.

Fidelity Bank has sponsored dozens and dozens to our programs and their staff come to our live sessions, co-learning with us. Thank you for supporting the local team.

From Tekedia today, if you open a Fidelity Bank account, you get a 50% discount to Tekedia Mini-MBA till week end (May 13, 2022 midnight in Lagos). That one is personally on me. I just want to see how to thank the Bank for showing so much support even though I do not know anyone there. Make Nigeria a Fidelity Bank nation