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Home Blog Page 5190

Illegal Oil Bunkering In Nigeria

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With the rate at which the country is ravaged by oil bunkering, one is always tempted to ask, will there ever be an end to oil bunkering in Nigeria? Just recently, over 100 persons lost their lives as a result of an explosion that happened at an illegal oil bunkering site in Imo state. Despite the risk involved in oil bunkering, it hasn’t in any way deterred people from still venturing into it.

According to reports, Nigeria loses $200m monthly to oil bunkering, yet the government still handles it with levity. No doubt the illegal activity of bunkering has a crippling effect on the economy of Nigeria. Oil theft siphons the main source of the Nigerian economy for private gains.

Different experts have estimated that the volume of oil theft in the country is between 100,000 and 250,000 barrels per day with billions of dollars lost yearly in revenue. Both the financial and environmental impacts of illegal oil numbering in Nigeria have reached an alarming rate, which calls for urgent intervention by the government.

Individuals continue to vandalize pipelines for years, siphoning oil that they sell for private gains. Aside from the financial impact of bunkering on the nation’s economy, oil bunkering poses a danger to the environment. Vandalizing pipelines and flow stations causes environmental damage to the region.

A case study is the Niger Delta, where the region has been saturated with oil, as a result of oil spillage associated with illegal bunkering and pipeline sabotage. This act has affected agriculture in the region and has made farmlands unconducive for planting.

Aquatic life has also not been left out, as they are killed in mass as a result of oil spills into the water. It’s high time the government declares war on these illegal oil bunkers because they are causing more harm than good which is also having an adverse effect on the nation’s economy.

Illegal oil bunkering can lead to the destruction of a community or the region because these activities are highly dangerous. Whenever there is an explosion, it can raze down buildings, causing many to be homeless. If the government continues to allow these oil bunkers to continue to vandalize pipelines, such criminal activities can cripple the nation’s oil and gas production.

It’s high time the government institutionalizes state police, and mounts checks, in communities where these pipelines pass through. Also, community policing will be effective, where few indigenes of a community can act as police which is officially recognized by the community chief and the government, to observe and report any illegal act of oil bunkering in the area.

Also, there should be routine checks by armed personnel and the state petroleum minister to ensure that there is no case of oil bunkering happening at designated areas where these pipelines are located. The government must understand that the Nigerian economy is heavily dependent on the oil sector, which accounts for over 95 percent of export earnings and about 40 percent of government revenues. If they continue to allow unscrupulous individuals to continually siphon the country’s major resources, it can pose a serious challenge to the country’s economy.

We acquired a significant portion in a Sierra Leone-based bank

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Through US-based CADAP Americas, we have acquired a significant portion in a Sierra Leone-based bank. Our partnership with DAVID MEEK JAH is growing deeper and we will continue to look for opportunities in many African markets. I like visiting Freetown and will be there again soon.

Many banks in Africa do not understand farming. Even with technologies, they do not see the future. Now, with our banking institution, we will provide support mechanisms and advance agriculture, trade and other sectors. We have some of the most advanced agro-technologies for Africa. Closing the banking layer is an organic playbook.

We thank Afreximbank and JP Morgan Chase for their support.

And Malawi, we’re also coming. We like what we see there.

Tekedia Capital Invests in roPay, a HR-tech in Nigeria

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We like them. They moved from $1 million GTV to $2 million at a very fast rate with zero marketing. Tekedia Capital is excited to announce that we have invested in Lagos-based roPay. A HR-tech startup, it helps organizations manage payroll and other HR matters, providing HR technologies to organizations of all sizes.

Tekedia Capital welcomes Ropay CEO Adedokun Agunbiade to Tekedia Capital family, the winner of best VC/Syndicate award in 2021 in Nigeria.

Please use roPay for your HR services. It is the best in the world.

 

Dissecting NDLEA’s Quest To Conduct Drug Test On Nigeria’s Political Aspirants

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The Chairman and Chief Executive of the Nigeria’s National Drug Law Enforcement Agency (NDLEA), Brig. Gen. Buba Marwa (Rtd), has urged political parties to make drug integrity tests part of the screening requirements for aspirants seeking to contest political offices in the 2023 elections on their respective platforms.

Marwa stated this while responding to questions from newsmen at the 2022 First Quarter Best Performing Commands Awards ceremony at the Agency’s National Headquarters in Abuja on Wednesday, 27th April 2022.

The boss disclosed that the anti-narcotic agency had been seriously advocating for all public office holders, including political appointees to undergo drug integrity tests before they would be certified fit to take public offices.

He said, “For politicians, we have long advocated and I take the opportunity again to repeat the advocacy that when they run for public office, it demands a lot of responsibility from the person and we need to be certain if he’s a person that is already a drug addict/user who will spend all the money he’s given for public service to consume cocaine and his head will not be in a stable condition to handle the affairs he has been entrusted with.

“For this reason, we have advocated and will continue to advocate that drug test be conducted for politicians. Some state governments like Kano State is already doing this.

“Not just politicians, but government appointees, and I have just sent a letter this morning to the National Chairman of the APC, who will be the first of the national working committee I wish to pay an advocacy visit on this issue.

“I recommended that drug tests be incorporated in the screening process for all those interested in running for public office. We will do the same to the PDP and other important parties.”

Marwa further hinted that when it’s the turn of the Peoples’ Democratic Party (PDP) and other parties to conduct its party primaries, the anti-drug agency would also write the parties’ national chairmen and request that operatives of the NDLEA be allowed to conduct drugs integrity tests on their members aspiring for various political offices.

The NDLEA boss while further speaking to the members of the agency said, “We should all be mindful that we hold the fate of the NDLEA in our hands, and that fate will be determined by our patriotism and dedication to duty, as well as our collective resolve to work towards the attainment of the agency’s mandate.

“Let me also seize this occasion to remind you about the importance of propagating the War Against Drug Abuse (WADA) programme in your various commands. There is much we can achieve when our communities are working hand-in-hand with us. That is why our roadmap, the NDCMP 2021-2025, strongly emphasizes collaboration with all the stakeholders in the society.

“We have to woo members of society to work with us on this very important assignment. Therefore, I charge you to ensure that WADA is correctly and deeply entrenched in the spheres of operation of your respective commands”, he stated.

Marwa, who disclosed that the agency was proud of the officers, stressed, “The sacrifice of a narcotic officer cannot be quantified in gold or silver, for he is fulfilling a higher calling.

“As we go about our duty of securing our society against the corrosion of illicit drugs, we should be aware that we are the direct beneficiaries of our work because for every kilo of drugs seized, we are making our streets and society safer for our children, family and kinsmen.

“NDLEA is proud of its workforce. The Agency treasures the effort of its officers and men. The management shall continue to look out for their best interest. We shall continue to reward hard work and excellence.” He landed.

It’s no longer news that the NDLEA, as being currently headed by Marwa, is obviously doing wonders to eradicate all forms of drug abuse across the shores of Nigeria.

However, as a concerned Nigerian, I urge the management of the agency to ensure thorough speedy prosecution of the suspects in their custody is taken seriously towards serving as a deterrent to other prospective drug addicts.

It’s unequivocally a good and commendable move for the agency to recommend for a drug integrity test among Nigeria’s politicians seeking various political positions come 2023. This will go a long way to ensure that the chaffs are duly separated from the grains, to assert the least.

In view of this, I enjoin the NDLEA to expedite actions towards ensuring that its quest to totally get rid of drug abuse in the entire Nigeria’s society doesn’t die in the long run.

Hence, it must be ready to collaborate with anybody with a view to arriving at the desired destination.

Yul Edochie could be jailed for bigamy

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The highlight of the week is the story of Yul Edochie, the renowned Nollywood actor who announced on his social media pages yesterday that he has married a second wife.

I will try to analyze this situation by the position of the law as to whether the act of Yul Edochie marrying a second wife while his first marriage is still subsisting is an offense known to the Nigerian law or not.

Since I cannot authoritatively verify nor state if Yul Edochie married his first wife, Mrs. May Edochie under the act or not, I will just make a wild assumption that he didn’t because if he did and he went on to marry a second wife he has committed a crime known in law as bigamy which is punishable in Nigeria with 5-7 years imprisonment.

Bigamy simply means the offence of marrying someone else while already married to another person and it is a criminal offense in Nigeria.

If you are legally and validly married to a person under the Marriage Act in Nigeria, you are not permitted to marry someone else while your previous marriage is subsisting and your wife or husband is still alive, if you do you have committed a crime and you can go to jail for it.

A marriage conducted under the act is a marriage that is conducted in a marriage registry or any recognized place of worship and a marriage certificate was issued to the newly wedded couples certifying that they have been legally joined together in accordance with the marriage act.

While such marriage is still subsisting, you are not to marry another person and you cannot validly marry another person if you do you have committed a crime known as bigamy.

The best legal advice in this matter for intending couples who wish to marry numerous wives/ husbands or marry another wife after the first marriage is “don’t get married under the act”, you can choose to go with traditional marriages or church marriage insofar as the church does not issue valid marriage certificates.

Back to the Yul Edochie’s issue, if Yul Edochie did got married under the act and went ahead to take a second wife as he purports then Yul have committed an offense known as bigamy punishable with 5-7 years jail term.