A Makurdi High Court presided over by Justice Tertsea Asue, on Monday declined to grant an application by former governor of Benue, Samuel Ortom seeking to appeal against its ruling.
In the ruling, the court had dismissed his ex parte motion seeking to stop Governor Hyacinth Alia from investigating him.
The court also turned down an interlocutory injunction by the ex-governor for a stay of proceedings on the matter, pending the determination of the substantive case before the court.
The matter was slated for hearing of the motion on notice for the substantive suit.
Oba Maduabuchi, a Senior Advocate of Nigeria (SAN) and counsel to Otorm filed for leave of notice to appeal the ruling that vacated the order and motion for the stay of further proceedings in the case.
Mohammed Ndarani, SAN, counsel to the 7th, 8th and 9th respondents challenged the application on the ground that there was no case before the court to warrant application for appeal.
He said that he filed a motion on notice challenging the jurisdiction of the court to entertain the matter.
“Where the issue of jurisdiction is raised, the same must be given prominence and eminence over and above all other proceedings since it is the live wire of adjudication,’’ he said.
He argued that there were only two exceptions to the principle on jurisdiction citing contempt, and where the court is seeking to correct an order that was wrongly made for want of jurisdiction.
He said the only option open to the court was to consider the applicant’s motion for leave to file for judicial review and the respective notices of preliminary objection raised by the respondents.
He argued that the plaintiff’s action was contrary to the acceptable legal standards.
He, therefore, prayed the court to dismiss the application for extension of time to file for judicial review as the time could not be extended in the circumstance.
In his argument, the 3rd respondent, Fidelis Mnyim, who is also the State Attorney General, said the plaintiff had no case before the court following his inability to move the motion on notice.
Mnyim said the two applications were yet to be served on him, adding that there was no suit before the court and so, it should be struck out.
According to the News Agency of Nigeria, in a bench ruling, the court upheld the submission of the respondents’ counsel and ordered that the applicant move his application seeking leave for extension of time to file for judicial review.
The court subsequently adjourned to July 30, 2024 to determine the propriety or otherwise of the applicant’s application.
Recall that Ortom had dragged the state government, Attorney General and all members of the commission of inquiry before the court, challenging their competence to check the finances of his administration.
Alia had in February, set up two separate panels to probe the management of the state’s finances and assets under the immediate past administration of Ortom.
Ortom had argued that the Auditor-General of the state, who is mandated by the provisions of the 1999 Constitution, has already audited the accounts of the state, among other reasons.
He said the period under review was audited and the report submitted to the Benue State House of Assembly as required by the provisions of the 1999 Constitution.
Ortom also argued that the same issues were before the Economic and Financial Crimes Commission, EFCC.
He said that it was wrong to set up another probe panel to investigate finances of the state within the same period, as it would amount to double investigation of the same issues by two different bodies.
Ex-parte order: Court declines Ortom’s application for leave to appeal
Ex-parte order: Court declines Ortom’s application for leave to appeal
Higher interest rates could cripple businesses, says NACCIMA
The President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, Dele Oye has warned of possible negative effects on businesses if the Central Bank of Nigeria raises interest rates.
In a statement sent to According Online on Monday, Oye said while an increase in the benchmark interest rate can help control inflation, it often introduces higher costs and increased uncertainty for businesses.
He said such could have a range of negative impacts on their operations and growth prospects.
According to him, some of the consequences include increased borrowing costs, reduced investment, decreased consumer spending, impact on stock prices, cash flow challenges, inflation control, and long-term planning, among others.
The statement read, “A hike in the benchmark interest rate (MPR) by the CBN can have several potential consequences for businesses, including:
“Increased Borrowing Costs: Higher interest rates mean that loans and lines of credit become more expensive. This can increase the cost of financing for businesses, leading to higher operational costs.
“Reduced Investment: As borrowing becomes more expensive, businesses may delay or scale back on investments in expansion, new projects, or capital improvements. This can slow down business growth and innovation.
“Decreased Consumer Spending: Higher interest rates can lead to increased borrowing costs for consumers as well, which can reduce their disposable income. This typically results in lower consumer spending, which can negatively impact businesses, particularly those in the retail and service sectors.
“Cash Flow Challenges: Businesses that rely heavily on debt to manage cash flow may find it more challenging to service their debt, leading to potential liquidity issues.”
Oye further explained, “Higher interest rates can make bonds and other fixed-income investments more attractive compared to stocks. This may lead to a decline in stock prices, affecting businesses’ market valuations and their ability to raise capital through equity financing.
“Foreign Exchange Rates: An increase in the benchmark interest rate can strengthen the national currency. While this might reduce the cost of imports, it can make exports less competitive, potentially harming businesses that rely on international markets.
“Inflation Control: While the primary goal of raising interest rates is often to control inflation, it can have a mixed impact on businesses. On the one hand, controlling inflation helps maintain purchasing power and economic stability; on the other hand, the immediate effects of higher rates can strain business operations.
“Consumer Confidence: If consumers perceive rate hikes as a sign of an overheating economy or a response to high inflation, their confidence may be shaken, leading to reduced spending and investment.
“Credit Availability: Tighter monetary policy can lead to stricter lending standards, making it harder for businesses, especially small and medium-sized enterprises (SMEs), to obtain credit.”
Others according to the NACCIMA President include, “Long-Term Planning: Uncertainty about future interest rate movements can make long-term planning more difficult for businesses. Companies may become more cautious in their strategic decisions, potentially slowing down growth and innovation.”
Oye added, “In summary, while an increase in the benchmark interest rate can help control inflation, it often introduces higher costs and increased uncertainty for businesses, which can have a range of negative impacts on their operations and growth prospects.”
Nigerian Govt vows to address pavement failures on East-West Road – Umahi
The federal government said it has introduced more formidable measures of construction to end pavement failures and years of infrastructural neglect on the East West Road of South South Nigeria.
Minister of Works, Engr David Umahi revealed this during his visit to the project sites at East West Road section II Kaiama- Ahoada in Rivers/ Bayelsa States.
The construction of Multiple Box Culverts at flood damaged locations along the dualization of East West Road handled by Messrs Rock Results Nigeria Ltd and the dualization of East West Road, Section II ( sub section II) handled by SETRACO Nigeria Ltd dated 22nd July 2024.
Speaking after the inspection of work progress, Umahi said that the Federal Government redesigned the inherited ongoing project, using reinforced concrete technology to end the perennial pavement failures and years of road neglect across the wetland Niger Delta.
He said that some sections of the East-West Road starting from Lokoja to Benin were also rescopped and redesigned in reinforced concrete, and that the height of the road was increased above the flood level, and that the redesign factored the peculiar environment, geomorphology and soil characteristics which were responsible for the failures of flexible pavement used over the years by successive administrations.
This was contained in a statement issued on Tuesday by the Minister’s Special Adviser on Media, Mr Uchenna Orji.
On the Kaiama-Ahoada section, he said,”When we came on board, the job was already awarded by the past administration. And so the only new thing in all these locations under President Tinubu is the relief culverts that these two local contractors are putting, and are proving themselves to be of a very high reputation in terms of their works. We are encouraging many more local contractors to come and work, because there’s so much to work.”
“He observed that the impact of climate change was largely responsible for the flood that came over the two sections of the road but commended the two contractors handling the relief culverts for their deep commitment to the intervention work despite having not been paid.
He stated, “And so our directive is that the contractor shouldn’t open more relief culverts. Let us contain the floods by working with NDDC. And I commend the MD of NDDC for the fantastic work they are doing.”
“He thanked Rock Results, who also did emergency works, even though it’s outside the scope and the 29 Battalion with other paramilitary outfits for the management of the traffic which he said would continue for the next two to four weeks. While seeking for patience on the side of the road users, he assured that permanent solution was underway as the project was being procured to raise the road above the flood level while reinforced concrete of 12 inches would be used to do the overlay.
“The Honourable Minister who also visited the KM 15 Section 3A of the East- West road (from Eleme Junction to Onne Port Junction) handled by Messrs RCC Nigeria Ltd, commended the quality of work being done but urged the contractor to re-mobilize at least in 6 sections of the project to ensure timely project delivery or be prepared to relinquish the other carriageway for award to another contractor.
He staed, “It is Presidential order that this road should be given the maximum attention, and that’s why he asked me to come and look at it, and then give him a report.
“So we’re looking at December for project delivery, but certainly not at the pace that RCC is going.”While reacting to the statement credited to a Clergy, Buba Isa on the state of some federal roads, the Honourable Minister reiterated the commitment of the Renewed Hope administration in fixing all the inherited ongoing projects and backlogs of road infrastructure deficits nationwide orchestrated by many years of neglect.
“While commending President Tinubu for the glaring deference in road infrastructure under his administration which road users are attesting to, he called for patience and understanding as enduring solution to road failures had been reinvented by the Renewed Hope administration and very soon Nigerians would enjoy sustainable infrastructure delivery.”
Nigerian Govt vows to address pavement failures on East-West Road – Umahi
Tobi Amusan named Nigeria’s flagbearer for Paris 2024 Olympics
World record holder Tobi Amusan has been selected as the country’s flagbearer for the opening ceremony of the Paris 2024 Olympic Games.
This appointment marks a historic moment for Nigerian athletics, as Amusan becomes the first track and field athlete in two decades to receive this honour.
A tweet by Making of Champions on social media platform X on Tuesday said, “Tobi Amusan has been named as Nigeria’s flagbearer for the opening ceremony of #Paris2024 #Olympics – she becomes the first athlete from Athletics in 20yrs, since Mary Onyali at the Athens 2004 Games, to have such honours.”
Amusan, known for her outstanding performances in the 100m hurdles, will lead the Nigerian contingent during the parade of nations at the opening ceremony.
This recognition comes as a testament to her achievements and her status as one of Nigeria’s most prominent athletes on the global stage.
In addition to Amusan’s appointment, the Nigerian Olympic Committee has made another key selection for the country’s Olympic team.
The post further stated, “In another appointment, the Nigerian Olympic Committee (NOC) also announced Badminton player, Anuoluwapo Opeyori as the General Team captain for Nigeria in Paris.”
These appointments set the stage for Nigeria’s participation in the Paris 2024 Olympics.
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Ukraine’s top diplomat in Beijing for talks on ending war
Ukraine’s foreign minister was in China Tuesday for talks on how officials there might help end the war with Russia, whose ties with Beijing have grown stronger since the conflict began.
China presents itself as a neutral party in the war and says it is not sending lethal assistance to either side, unlike the United States and other Western nations.
However, its deepening “no limits” partnership with Russia has led NATO members to brand it a “decisive enabler” of Moscow’s war, which Beijing has never condemned.
Ukrainian Foreign Minister Dmytro Kuleba’s visit until Friday is his first since the war began in February 2022.
Kyiv said Kuleba’s visit would focus on “ways to stop Russian aggression” as well as “China’s possible role in achieving a sustainable and just peace”.
Beijing said Tuesday the talks would focus on “advancing China-Ukraine cooperation and other issues of common interest”.
“On the Ukraine crisis, China always believes that an early ceasefire and a political settlement serves the common interests of all parties,” foreign ministry spokeswoman Mao Ning said.
“China will continue to stand on the side of peace and dialogue,” she said.
China has sought to paint itself as a mediator in the war, sending envoy Li Hui to Europe on multiple rounds of “shuttle diplomacy”.
President Xi Jinping told Hungary’s Viktor Orban this month that world powers should help Russia and Ukraine restart direct negotiations. Orban’s visit to Beijing was branded as a “peace mission”.
China also released a paper last year calling for a “political settlement” to the conflict. However, it was criticised by Western countries for enabling Russia to retain much of the territory it has seized in Ukraine.
Beijing has rebuffed claims it is supporting Russia’s war effort, insisting last week that its position was “open and above board” and accusing the West of fuelling the conflict through arms shipments to Kyiv.
Beijing, a close political and economic ally of Russia, did not attend a peace summit in Switzerland last month in protest against Moscow not being invited.
• ‘Extract a price’ –
Ukrainian President Volodymyr Zelensky called during that summit for Beijing to engage seriously with developing peace proposals.
Alexander Gabuev, director of the Carnegie Russia Eurasia Center, told AFP that Kyiv could likely seek this week to “convince China that it should participate in a second peace summit”.
“Beijing can try to extract a price, even for sending somebody like Special Envoy Ambassador Li Hui,” he said.
China has offered a critical lifeline to Russia’s isolated economy since the conflict began.
That economic partnership has come under close scrutiny from the West in recent months, with Washington vowing to go after financial institutions that facilitate Moscow’s war effort.
The United States and Europe have also accused China of selling components and equipment necessary to keep Russia’s military production afloat.
Gabuev suggested that Beijing may this week “try to leverage this Ukrainian interest in a second peace summit… in order to get itself off the hook for deepening sanctions”.
But another analyst said it was possible that Beijing could be keen to play a larger role in mediating a conflict “that threatens to become increasingly costly for Chinese businesses and interests”.
“China is undoubtedly sustaining its overall support for Russia,” Bjorn Alexander Duben, an assistant professor at China’s Jilin University, told AFP.
“But there are signs that Beijing is getting increasingly wary of the diplomatic, political, and economic cost of its ongoing de facto support for Moscow,” he added.
AFP.
EFCC arraigns fake content creator for internet fraud in Jos
The Economic and Financial Crimes Commission, Kaduna Zonal Command, has arraigned a “fake content creator”, Audu Ishida, also known as Baddie Kylemilli, over allegations of internet fraud.
In a post on its X page on Tuesday, the antigraft agency said Ishida is facing a single charge of impersonation, retention of proceeds of crime, and money laundering before Justice Hauwa’u Buhari of the Federal High Court in Kaduna State.
Ishida was arrested alongside other members of an internet fraud ring in Jos, Plateau State, following an intelligence-driven raid by operatives of the Kaduna Zonal Command of the EFCC.
The agency stated that investigations revealed that the defendant created fake online video content and dating sites to defraud unsuspecting victims.
Further investigations showed he obtained the proceeds of his crime through gift cards, which he traded online using an FSS card app in foreign currency, later converting them to Naira and depositing them into his bank accounts.
“That you, Audu Ishida (Baddie Kylemilli), on or about the 2nd of June, 2024, in Jos, within the jurisdiction of this honourable court, retained the total sum of $50 USD from your victim, which you reasonably ought to have known forms part of the proceeds of an unlawful act, thereby committing an offence contrary to Section 20(a) of the Money Laundering (Prevention and Prohibition) Act, 2022, and punishable under Section 20(b) of the same Act,” the charge against Ishida read.
He, however, pleaded “not guilty” to the charge.
Prosecution counsel M.E. Eimonye requested a trial date and for the defendant to be remanded in the custody of the Nigerian Correctional Service. Defence counsel Umar Usman did not oppose the request.
Justice Buhari ordered Ishida’s remand in the Nigerian Correctional Centre, Kaduna, and adjourned the case to November 7, 2024, for the commencement of trial.
Dangote refinery too vital to fail
The 2023 Labour Party presidential candidate Peter Obi has voiced his support for the Dangote Refinery, urging the Nigerian government to resolve ongoing conflicts and provide necessary assistance for the project’s success.
In a statement on Tuesday via X, Obi emphasised the critical importance of the refinery to Nigeria’s economic future.
“The recent conflicts between Dangote Industries and some government agencies are deeply troubling,” Obi stated.
He stressed that the issue transcends political affiliations and personal grievances and is fundamentally about Nigeria’s economy and the well-being of its citizens.
Highlighting the refinery’s potential impact, Obi said, “The refinery has the potential to generate approximately $21 billion in annual revenue and create over 100,000 jobs, with numerous additional positive impacts on the economy.”
He underscored its strategic importance in addressing Nigeria’s fuel crisis and boosting foreign exchange earnings.
He said, “The refinery is too vital to fail and must not be hindered, considering its crucial role in our national welfare.”
Obi praised Aliko Dangote’s contributions to Nigeria’s industrial landscape, describing him as a national and African brand symbolising patriotism, commitment, and impactful entrepreneurship.
He pointed out Dangote’s diverse industrial portfolio, which spans over 15 sectors including cement, sugar, fertiliser, and petrochemicals.
“Alhaji Dangote’s unwavering dedication to Nigeria’s industrialization, job creation, and economic growth, despite adversities, warrants full support and protection,” Obi said.
He argued that given Nigeria’s current economic challenges, enterprises like Dangote Industries should be regarded as national treasures, meriting robust support and protection.
The former Anambra State governor called on the Federal Government to recognise the significance of Dangote’s contributions and provide all necessary support, particularly for the refinery.
“The success of Dangote is intrinsically linked to the success of Nigeria and Africa,” Obi said, warning that its failure would be a significant setback for both the country and the continent.
Disparaging of Dangote very bad for Nigeria
The president of the African Development Bank Group, Akinwumi Adesina, has spoken out in defence of the Dangote Refinery, addressing concerns about potential monopolistic practices.
In a statement shared by businessman Femi Otedola on Tuesday via X, Adesina expressed his shock at the controversy surrounding Dangote’s operations, warning that it is “creating bad waves for Nigeria globally.”
According to Otedola’s post, Adesina argued that monopolies often arise in industries with high entry barriers or capital costs, citing railways and large-scale refineries as examples.
He was quoted as saying, “Monopoly often exists where there are high barriers to entry or high capital costs. How many individuals or companies can do railways? How many can do refineries of the scale of Dangote Refineries? In a nation that has been importing refined petroleum products for several decades, the abnormal simply became very normal.”
The AfDB President emphasised the significant investment made by Dangote, stating, “No smart investor would make a $19.5 billion investment and want it to be undermined by importers.”
He highlighted manufacturing challenges in Nigeria, describing the business environment as fraught with policy uncertainties and reversals.
“To manufacture is extremely expensive and risky. This is even more so in Nigeria, given the very challenging business and economic environment, fraught with policy uncertainties and policy reversals, and where the self-defeating default mode of “simply import it” is always so easily rationalized and chorused to solve any problem,” he said.
Addressing concerns about anti-competitive practices, Adesina said, “Competition is good for everyone. But is Dangote refineries anti-competitive? What is the evidence? Has Dangote Refineries prevented any other company from setting up refineries? Why have others not done so? How come they have not done so for several decades?
“Was it Dangote that held them back? But Dangote refineries surely cannot be asked to ‘compete’ with importers of petroleum products. That is not competition. Let the importers set up local refineries and compete by refining in Nigeria. That is fair and justified competition.”
Adesina stressed the broader economic implications of the refinery, stating, “We cannot and must not undermine, disparage or kill local industries, talk less of one that is of this scale — a jewel of industrialisation in Nigeria. It is more than simply delivering the cheapest product to the market.
“It is about domestic supply security, driving (and yes, protecting) globally competitive industries, maximising forward and backward linkages in the local economy, job creation, reducing forex expenses and shoring up the Naira. We must not be myopic.
“This whole disparaging of Dangote is uncalled for. It is self-defeating. And it is very bad for Nigeria. Who will want to come and invest in a country that disparages and undermines its own largest investor? Investing is tough. Pettiness is easy. It sadly sends a signal that the price for sacrificing for Nigeria is to get sacrificed.”
Military hands over rescued Chibok girl, 330 others to Borno govt
The Theatre Commander Joint Task Force (JTF) NE Operation Hadin Kai (OPHK), Major General Waidi Shaibu, has handed over a rescued Chibok girl, Ihyi Abdu, to the Borno State Government.
Captain Reuben Kovangia, Acting Deputy Director of Army Public Relations Headquarters Theatre Command, said in a statement that the conduct of military operations across the theatre is key to achieving the mandate of OPHK, which is to restore normalcy in the Northeast for socio-economic activities to thrive.
According to the statement, “General Waidi emphasised that the plight of the remaining Chibok girls still in captivity had necessitated the conduct of military operations deep into the terrorists’ enclaves with the aim of facilitating their release, assuring that OPHK will continue to do its best to rescue the remaining Chibok girls in line with the strategic guidance of the Chief of Defence Staff General Christopher Musa and Chief of Army Staff Lieutenant General Taoreed Lagbaja.”
Giving details of the rescue, the Acting General Officer Commanding (GOC) 7 Division Nigerian Army and Commander Sector 1 OPHK, Brigadier General Abubakar Haruna, said Ihyi and her two children were rescued by troops of the 21 Special Armoured Brigade Bama during offensive operations conducted within the Sambisa forest in June 2024.
General Haruna stated that Ihyi, 27 and Kibaku by tribe, hails from Kubur-Mbula village in Chibok LGA. While in captivity, she was married to one Abu Darda, an indigene of Plateau State, in Gwoza town in 2014, after which he relocated to Senegal.
Since her rescue, according to the GOC, Ihyi and her children have undergone detailed medical examinations.
In the same vein, 330 women and children rescued by troops of the OPHK were also handed over to the Borno State Government.
During the handover, the Theatre Commander, represented by Chief J9 (in charge of Civil Military Affairs) Navy Captain Mohammed Abdullahi, stated that the rescue was a result of the wet season operations in the Theatre, adding that the rescue was an indication that the logistics strategy in the conduct of the operations has been successful.
He thanked the Borno State Government for playing a key role in the non-kinetic efforts of the operations.
Receiving the rescued Chibok girl and 330 others on behalf of the Borno Government, the Commissioner for Women Affairs and Social Development, Borno State, represented by the Director of Social Welfare, Mrs Aishatu Shettima, thanked the military for its vigilance and efforts in rescuing the Chibok girl as well as the women and children.
She noted that they would be taken to a camp where they would be provided with psychosocial support, family tracing, skill acquisition training, and education for children, amongst other services, before their subsequent reunion with their families.
Military hands over rescued Chibok girl, 330 others to Borno govt
The Ultimate AI Phone Set to Launch in Nigeria
Lagos, Nigeria – 23 July, 2024 – OPPO is poised to revolutionize the smartphone industry with its latest AI phone, the Reno12 F 5G. As anticipation builds, OPPO promises to redefine what consumers expect from their mobile devices, merging groundbreaking AI capabilities with exceptional design and performance.
The Reno12 F 5G is more than just a phone; it is a testament to OPPO’s commitment to pushing the boundaries of technology. Having already launched globally in June 2024, the device is now set to make its debut in Nigeria on August 1, 2024. This release solidifies OPPO’s position as the leader in the AI phone segment, offering users an unparalleled experience in creativity, productivity, and connectivity. “We’ve crafted the Reno12 F 5G to be more than just a smartphone; it’s an intelligent companion that anticipates your needs and elevates your daily life,” said Folashade Omonijo, OPPO’s Marketing Manager. “We’ve blended advanced AI with striking design to offer users a seamless, intuitive experience that sets a new benchmark in the industry.”
The Reno12 F 5G’s AI capabilities are designed to enhance every aspect of the user experience. From intelligent photography features that capture moments with precision to productivity tools that streamline daily tasks, this smartphone is built to empower users in every way.
As OPPO continues to innovate, the company remains committed to delivering products that combine advanced technology with aesthetic appeal. The Reno12 F 5G is a testament to this commitment, featuring a sleek design that is both stylish and durable.
The official launch details and pricing for the OPPO Reno12 F 5G will be announced soon.
About OPPO:
OPPO is a leading global smart device brand committed to innovation and excellence. Since the launch of its first mobile phone in 2008, OPPO has been dedicated to creating devices that combine aesthetic satisfaction with cutting-edge technology. With a presence in over 60 countries and regions, OPPO continues to inspire and enhance the lives of millions of users worldwide. For more information and updates, please visit oppo.com/ng/