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Encomiums pour in for Nigerian NewsDirect Publisher, Dr Samuel Ibiyemi

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Encomiums have continued to pour in for Nigerian NewsDirect Publisher, Dr Samuel Ibiyemi who passed on Tuesday at Babcock University Teaching Hospital.

Osun has lost an icon of great repute — Governor Adeleke

Governor Ademola Adeleke has described the death of Nigerian NewsDirect Publisher as the loss of an icon to Osun State.

In a condolence message issued by the Governor’s Spokesperson, Mallam Olawale Rasheed, Adeleke said Osun State and the journalism profession has lost a major icon, a media entrepreneur and community worker of great repute.

“I just got the news and I must note how devastated we are. We note his contributions to the development of journalism and the growth of Osun state. We lost a consummate professional who distinguished himself during his lifetime.

“On behalf of the people and government of Osun state, we commiserate with the family and associates of Dr Ibiyemi on this sad loss. We pray the good Lord strengthen and protect all what he left behind,” the statement added.

Sanwo-Olu mourns Nigerian NewsDirect Publisher, Samuel Ibiyemi

Lagos State Governor, Mr. Babajide Sanwo-Olu, has mourned the passing of the Publisher of Nigerian NewsDirect Newspaper, Dr. Samuel Ibiyemi.

He described Ibiyemi’s death as shocking and a colossal loss to journalism and the media industry in Nigeria.

Dr. Samuel Ibiyemi died on Tuesday at the Babcock University Teaching Hospital, Ilishan Remo, Ogun State after a brief illness.

Governor Sanwo-Olu in a condolence message issued on Wednesday by his Chief Press Secretary, Mr. Gboyega Akosile, said Ibiyemi’s death is painful and heartbreaking, noting that the rich experience and knowledge of the deceased will be sorely missed.

Sanwo-Olu, who also commiserated with the Ibiyemi family, the management and staff of the Nigerian NewsDirect Newspaper over the death of the Publisher, said Dr. Ibiyemi had written his name in gold and the legacies he left behind are immense and indelible.

He said, “On behalf of the Lagos State Government, I sympathise with the Ibiyemi family, the management and staff of Nigerian NewsDirect over the death of an accomplished journalist and Publisher, Dr. Samuel Ibiyemi.

“I also commiserate with the Newspaper Proprietors’ Association of Nigeria (NPAN), the President, Executives and members of the Nigeria Guild of Editors (NGE), the deceased friends, colleagues, and entire journalists in Nigeria over the demise of Dr. Samuel Ibiyemi.

“Dr. Ibiyemi was a brilliant, hardworking and versatile journalist, who had distinguished himself in the media profession as a Reporter, Business Editor and Energy Editor, before establishing his newspaper, Nigerian NewsDirect.

“He made lots of positive impacts during his lifetime, contributing meaningfully to the growth and development of journalism in Nigeria, as well as the economic and political development of the country as an employer of labour and publisher of one of the credible newspapers in the country.

“Dr. Ibiyemi’s death is a great loss to the media industry and Nigeria. He will be greatly missed by all of us. I pray that God will grant the deceased eternal rest and grant his family, friends, colleagues, staff, and media industry the fortitude to bear the irreparable loss.”

Oyetola mourns death of Nigerian NewsDirect Publisher, Ibiyemi 

Immediate past Osun State Governor, Adegboyega Oyetola has described the passing of the Publisher of Nigerian NewsDirect Newspaper, Dr. Samuel Ibiyemi, as shocking and devastating, saying he would be sorely missed by the media industry and the people of Osun.

The late media practitioner reportedly passed on late Tuesday’s evening, after a brief illness.

Oyetola, in a message, personally signed by him, said he received the news of Ibiyemi’s death with a rude shock.

He described the deceased as a complete gentleman, humility personified, thoroughbred professional and a devout Christian who used his talent and expertise in the service of God and humanity.

Oyetola expressed his heart-felt condolences to the spouse and children of the deceased, praying God to uphold the entire members of the family and grant them fortitude to bear the irreplaceable loss.

He prayed God for the repose of the departed soul.

“The news of the death of Dr. Ibiyemi came to us as a rude shock. He was a refined person with exceptional virtues; a gentleman to the core whose imprints not only in the media profession but in other aspects of life would remain indelible in the minds of all those that may have encountered him.

“As a humility personified, late Ibiyemi’s humbleness and cheerfulness can never be quantified as the deceased was known for his outstanding human relations.

“As a strong believer, death is inevitable to every mortal but I believe strongly that the deceased would find the desired place in heaven in reciprocation of his good deeds while in this world.

“Though his death is painful and unexpected, we must take solace in the fact that he lived a life worthy of emulation, and we pray God to grant the bereaved family the fortitude to bear the irreplaceable loss,” he said.

Ibiyemi, an asset to the nation – Abike Dabiri

Hon. Abike Dabiri-Erewa, Chairman/CEO, Nigerians in Diaspora Commission (NIDCOM) has described Dr. Samuel Ibiyemi as an asset to the nation.

In a condolence message in Abuja, Abike Dabiri disclosed that she was shocked over the death of Dr. Samuel Ibiyemi, describing it as a huge loss to the family and Nigeria as a whole.

The NIDCOM boss said that late Samuel was a quintessential gentleman, a great journalist, a servant of God and an asset to the nation.

Dabiri-Erewa prayed unto God to give his family and friends the fortitude to bear the irreplaceable loss and grant his soul eternal rest.

He was a dependable friend, a value creator — Ken Etete extols Ibiyemi

The Group Chief Executive Officer of Century Group, Ken Etete extolled Ibiyemi as dependable and a value creator.

In a condolence message signed personally, Ken Etete revealed that Ibiyemi had been his friend for over 17 years and has never given him a reason to worry.

“He was my very dependable friend of over 17 years. He has never given me a cause to worry but he constantly added value to my life. He was of immense help and he will be sorely missed. I am still in shock and deeply sorry for this irreparable loss,” Etete narrated.

NAEC, ex-NNPC Spokesman hails Ibiyemi for in-depth reporting of Energy sector

The Association of Energy Correspondents of Nigeria (NAEC) has hailed Late Publisher/Executive Editor, Dr. Samuel Ibiyemi for his in-depth reporting of the Energy sector.

In a statement signed by the Association Chairman, Mr Olu Phillips to commiserate with the family of the late Publisher who was a prominent member of the association, he described Dr Ibiyemi’s passing as a great loss to the Energy sector, media, and Nigeria.

According to Mr Phillips, the Nigerian energy industry and the media would miss his in-depth and balanced reporting of the energy sector.

“The measures he brought to in-depth and balanced reporting of the energy sector and newspaper publishing is quite remarkable,” he added.

The NAEC Chairman also commiserated with the entire family of Ibiyemi, and urged them to see his passage as the will of God, adding that they should take solace in God for a quality life spent by the deceased.

He said, “On behalf of the entire leadership and members of NAEC, I mourn the passing of a proud NAEC, Dr Sam Ibiyemi. His death was a great loss to us all.

“Dr Sam Ibiyemi was a man who gave life the best shot during his active days, and while he was hospitalised. He lifted himself through hard work, unusual courage, extreme doggedness and commitment. He was a lesson to those that dared to dream and succeed.”

He was a good ambassador of NAEC at every level and he contributed his quota to the growth and development of energy reporting in Nigeria.

Reacting also, Ndu Ughamadu, a former spokesman for the NNPC and media consultant to the Organization of Petroleum Exporting Countries (OPEC), described Dr Ibiyemi as a journalist who covered the activities and operations of the NNPC professionally.

He described his death as a shock stating that the NNPC Management cherished and learnt from his constructive opinion.

“I first met Sam when he was Energy Correspondent of the then influential Financial Standard. He later rose to Deputy Editor of the Publication.

“My second coming at the NNPC, Sam was already a Publisher, NewsDirect. Interestingly, the publication has positive slant in energy reporting,” He noted.

He also revealed the cordial relationship the Dr Ibiyemi had with the NNPC with his regular outpour of informed and persuasive ideas.

“He was a friend of late Dr Maikanti Baru, the GMD of NNPC. Dr Baru fondly called him ‘Sam de Sam of radical views.’

“When I exited the NNPC, Sam was constantly in touch — essence of true friendship! May God grant the soul of Sam safe passage to eternity and comfort his loved ones. Adieu, Sam!” He concluded.

Ibiyemi achieved what was considered impossible – Afe Mayowa

The CEO of Danvic Petroleum has described Dr Samuel Ibiyemi as “a forward looking man who took on projects that are considered impossible for his age class but with God he made.

“I met Sam when I was President, NAPE in 2011. It was a pleasure for me and my team when I was President of OGTAN to recognise News Direct as Local Content Newspaper of the year. All I can say at this time is that the Lord will comfort his family and friends and grant him eternal rest in Jesus name,” He concluded.

Aregbesola, Opeke, NUJ, others commiserate with family

Former Minister of Interior and former Governor of Osun state, Ogbeni Rauf Aregbesola has commiserated with the family of Dr Samuel Ibiyemi.

CEO of MainOne, Funke Opeke, Unity Bank Managing Director, Mrs Tomi Somefun, Chairman of International Energy Services Limited, Dr Diran Fawibe, Registrar General of Corporate Affairs Commission, Alhaji Garba Abubakar joined a host of other dignitaries to mourn the late Publisher and commiserate with his family in separate messages sent to the family.

Mrs Somefun prayed for the comfort of the family and the loved ones left behind while Opeke prayed for strength for the family to build on the legacy left behind by Dr Ibiyemi.

The Lagos State Council of the Nigeria Union of Journalists also released a statement mourning the demise of the renowned Journalist and Publisher.

The statement signed by Adeleye Ajayi, Chairman and Tunde Olalere read, “The death of Ibiyemi came as a shock to all of us in the union. Ibiyemi was a versatile and courageous journalist.”

“He became an employer of labour with the publication of NewsDirect. He also made his mark in unionism as a strong member of the NUJ.

“His contributions to the economic and political developments of the country are commendable. He was both an economic journalist and a politician.

“The NUJ prays that God will grant his soul eternal rest and grant his family, friends and associates the fortitude to bear the big loss,” The statement read.

Osun APC Chairman, Lawal, mourns Ibiyemi’s Death

The Osun State chairman of the All Progressives Congress (APC), Sooko Tajudeen Lawal, has described the sudden death of a prominent Ile-Ife son and chieftain of the APC in the ancient town, Dr Samuel Ibiyemi, as saddening, shocking and tragic.

The demise of Ibiyemi, the publisher of the Nigerian NewsDirect was announced and reported extensively on Tuesday.

It was learnt that Ibiyemi breathed his last at Babcock University Teaching Hospital, Ilisan, Ogun State, where he was undergoing treatment for an undisclosed ailment at the age of 56.

According to Lawal, in a statement issued by the Osun State APC Director of Media and Information, Chief Kola Olabisi, in Osogbo, the state capital, he said the death of Ibiyemi to him still remains within the realm of dreaming.

He described the deceased as a consummate politician and highly committed party man whose absolute loyalty to the party was never in doubt.

Lawal hinted that it is on record that Ibiyemi used his God-given endowments to improve the fortune of the APC in the state as the story of his empowerment of the less-privileged members of the party in his constituency is in the public domain.

He explained that the vacuum left behind with the sudden death of Ibiyemi would be pretty difficult to fill.

Lawal consoled the PDP family in Ile-Ife over the death of the deceased pleading with them to take the demise philosophically as it’s the same God who giveth that also taketh.

In the words of the APC state chairman: “I am devastated with the news of the sudden death of Dr Samuel Ibiyemi who was, until his death, a committed party chieftain in Ile-Ife, in particular and Osun State in general.

“I am commiserating with the widow and children of the late Dr Samuel Ibiyemi, on behalf of my family, the state executive officers of our party and all the members of our party in Osun State, over the death of their loved one.

“May God grant the late Ibiyemi’s dependents the fortitude to bear the irreparable loss and repose the soul of the deceased,” Lawal prayed.

Ibiyemi’s Exit: It is a colossal loss to Ile-Ife, — IDB President, Awowoyin

The Chairman, Ife Development Board (IDB), Mr Lawrence Awowoyin has described the death of the Publisher, Nigerian NewsDirect Newspaper, Dr Samuel Ibiyemi, as shocking and devastating news for Ile Ife as a community.

He said, late Ibiyemi is a promising man in Ile-Ife.

“He has been identifying with the community. In fact, this is the time he has been getting used to us, a time we need him much that death took him from us. It is a painful loss to Ile Ife. We are already missing him. The community will miss him greatly.

“The media industry and the people of Ile-Ife and Osun would sorely miss Ibiyemi.The news of our beloved son, Dr. Samuel Ibiyemi, the Publisher of News Direct  was shocking and devastating. We had a great moment together last year at our 2022 Ife Day Celebration. An amiable, unassuming gentleman, diligent and loved by people. We will surely miss him.

“His death is painful and unexpected, we must take solace in the fact that he lived a life worthy of emulation, and we pray God to grant the bereaved family the fortitude to bear the irreplaceable loss.”

Awowoyin expressed his heartfelt condolences to the spouse and children of the deceased, praying to God to uphold the entire members of the family and grant them the fortitude to bear the irreplaceable loss.

“Our condolences go to his family, friends and loved ones. May his gentle soul rest in perfect  peace.”

Ooni of Ife, Ojuade, Adereti mourn, condole children, family

The Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, Ojaja II, has described the death of Dr Samuel Ibiyemi, Publisher Nigerian NewsDirect Newspaper as unbelievable, sad and difficult to comprehend.

Ooni, in a statement by his Director of Media and Public Affairs, Otunba Moses Olafare, while reacting to the news of death, said; “I can’t believe it, so sad!”

Also, the stalwarts of the All Progressives Congress (APC), in Osun State, Honourable Bukola Ojuade and Engr. Benjamin Adereti have mourned the sudden demise of Ile Ife born politician, journalist and publisher of Nigerian NewsDirect Newspaper, late Dr. Samuel Ibiyemi who died on Tuesday.

The APC chieftains, in a press statement made available to newsmen, described the untimely death of Media icon as a colossal loss not only to his family but entire Ile-Ife and the APC family.

“The gap left behind by the media guru would be difficult to fill. Ibiyemi is a philanthropist, father and easy-going man who leaves an exemplary life worthy of emulation.

“Ile-Ife has lost a rare gem, an illustrious son whose Ooni of Ife, Oba Adeyeye Enitan Ogunwusi is proud of. We are seriously in a mourning period. His death has sent the entire ancient town into mourning,” the statement said.

“Deep sorrow filled our hearts when we heard about your transit to the world beyond.

“Words might fail me how best to describe your kindness to humanity but I know, Lord knows the best with your early transition. You are a great fighter, achiever, and motivator.

“As I join your family to mourn, may your soul rest in perfect peace in the bosom of the Almighty until the Last Day of the Resurrection when we shall meet again.”

Ojuade said he was a good friend and brother.

“We met in political gathering during  his contest and since then we have been friends. He was seeking for governorship ticket of APC and House of Representatives.

“He used to check on me regularly whenever he came to Ile-Ife. He will be ever remembered for his good minded and caring attitude. Dr Ibiyemi contributed to the development of APC in Osun State.”

Adereti, who, in a message, disclosed that he received the news of Ibiyemi’s death with a rude shock, added that the deceased was a complete gentleman who served God and humanity.

“The news of the death of Dr Ibiyemi came to us in Ile-Ife as a rude shock. He was a refined person with exceptional virtues, a gentleman to the core whose imprints not only in the media profession but in other aspects of life would remain indelible in the minds of all those that may have encountered him.

“As a humility personified, late Ibiyemi’s humbleness and cheerfulness can never be quantified as the deceased was known for his outstanding human relations.”

Also, in a terse statement by the Secretary, Ajo Ojiyan, Ilode, Ile-Ife, the family compound of late Dr Samuel Ibiyemi, titled; ‘The Exit of an Icon,’ read, “The Ajo Ojiyan Ilode Ile-Ife received with sadness, the exit of Dr. Samuel Ibiyemi.

“Indeed, this establishes again the fact that we are all from Olodumare and definitely we would all return to Him.

“Dr. Ibiyemi without doubt, was a colossus, an erudite journalist and a politician of high repute.

“While we take solace in the impactful life he lived, I, on behalf of the Ajo Ojiyan Ilode, Ile-Ife, prayed that God Almighty welcomes his return peacefully. May He grant his family, friends and loved ones the fortitude to bear the irreplaceable loss.”

Ibiyemi was a great man of valor, humble, down to earth – Yakubu

The Ijoko Ward Chairman, Ogun State, Hon. Olanrewaju Lookman Yakubu has described Dr. Ibiyemi Samuel as a man of great valor, who was humble and a philanthropist before death took him away.

Yakubu who led members of the All Progressive Congress (APC) and other community leaders to pay a condolence visit at his office described the publisher as a leader and a community friendly man.

He further added that “Dr Ibiyemi is a great man of Valor, Humble and down to earth human resources manager, a dogged politician and helper of destiny.”

“Anytime I called him, he would greet me, ask of the family, after talking and laughing over the phone, he will tell me Chairman, send your account and I will always marvel with the amount he will send.

“Or is it when he would come to Abeokuta, Government house and give me money, advice, laugh with me, spend time together and other crew members. This has created a great vacuum in my heart that cannot be replaced, MD doesn’t look down on anyone and he is a man that accommodates all and always ensure you are doing well.”

He added that the publisher is a man of his word, a humble, resilient and a role model to all.

Yakubu during condolence visit spoke to other party members as he encouraged them to emulate the leader for his good works, goodwill, impact, generosity, humility and for a good life he has lived and shown to his people around and far away from him, “because he will be deeply missed among both the old and the young,” he said.

Adding that “his good works, trust and his influence made the Governor, Prince Dapo Abiodun approved caterpillar for grading of Gas line road and its environment which we benefited from.”

“He is a great leader, as God will give us the grace to be able to fill the vacuum he has left behind,” he concluded.

Also the United Progressive Forum through its National Secretary, Comrade Ilori Solomon during their condolence visit to the office of Nigerian NewsDirect Publisher, Dr. Samuel Ibiyemi said “We have lost a great political leader, who has the love of his party at heart.”

Comrade Ilori while describing Ibiyemi said, “He is someone who always attends to people’s needs. He was a problem solver.”

He prayed that God grant his family the fortitude to bear the loss. “That Sam Ibiyemi was one of the young politician pioneers in Ijoko LCDA here,” he noted.

Also speaking during the visit, former aspirants for state house of Assembly of Otta Constituency, Honourable Olamide Okunade described him as a “mentor in politics. He is a father for all who cared about people around him.”

Engineer Adeola Salami described Ibiyemi’s death as a great loss to the community, his family and to the Media world.

“He was the one who worked hard making sure Dapo Abiodun won the last Gubernatorial election in Ogun State.”

He then advised the Ogun State Executive governor not to forget his family for what he had done when he was alive.

“He helped the masses with his wealth,” he said.

Chief Mrs. Popoola the women leader Mojisola Community described the late Samuel Ibiyemi as a generous man or a philanthropist when he was alive. He would most time feed people with word of God. “He never discriminated,” she said.

An astute supporter of poetry in Nigeria — The UnSerious Collective 

The UnSerious Collective on Wednesday also released a statement commiserating with the family of Ibiyemi over the death of their patriarch.

“We receive with a heavy heart news of the passing of Dr Samuel Ibiyemi, Publisher, Nigerian NewsDirect Newspaper on Tuesday, July 4, 2023.

“He was an astute supporter of the poetry in the Nigerian literary community over years, sponsoring through his newspaper establishment multiple prizes and opportunities for young and old poets alike.

“These include the Nigerian NewsDirect Poetry Prize 2020, Nigerian NewDirect Chapbook Awards 2022, and the Poetry Column-NND.

“We pray repose for his soul and hope that God comforts the family in this trying time,” the Collective said.

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Account enrollment: Court validates CBN’s regulation, permits collection of customers’ social media handles

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…Dismisses concerns, says social media handles not protected by privacy rights

…Financial institutions cleared to collect social media handles for KYC

By Sodiq Adelakun

The Federal High Court in Lagos has ruled in favour of the Central Bank of Nigeria (CBN) in a case challenging the regulation that requires financial institutions to collect their customers’ social media handles as part of the Know-Your-Customer (KYC) procedure.

Recall that the Socio-Economic Rights and Accountability Project (SERAP) had urged the court to compel CBN to withdraw its directive to banks and other financial institutions.

However, in the ruling, Justice Nnamdi Dimgba struck out the suit filed by Lagos-based lawyer, Chris Eke, who argued that the regulation violates the right to privacy of bank customers.

Eke had sought a declaration that the regulation contained in Section 6(a) (iv) of the Central Bank of Nigeria (Customer Due Diligence) Regulations, 2023, is undemocratic, unconstitutional, null, and void, as it contradicts Section 37 of the 1999 Constitution of the Federal Republic of Nigeria (as amended). However, Justice Dimgba ruled that the regulation does not breach the right to privacy of bank customers.

The CBN regulation is targeted to enhance customer due diligence and anti-money laundering measures, and requires banks to collect social media handles, among other personal information, from their customers.

The applicant had asked the court to grant an order of perpetual injunction, restraining CB from enforcing the regulation which requires financial institutions to request customers’ social media handles as part of normal bank customer due diligence requirements.

The CBN in its response to the suit, filed a notice of preliminary objection, challenging the competence of the suit. The apex bank also disagreed that the said regulation constitutes any interference with the private life of the applicant, as claimed.

The judgment came as Justice Dimgba dismissed a suit, stating that the notice of preliminary objection held merit and consequently struck out the case.

During the proceedings, Justice Dimgba emphasised that providing a social media handle is akin to furnishing email addresses, phone numbers, and other contact details for banking purposes.

He argued that such information aids in conducting due diligence to ascertain if an individual is suitable for conducting business with a bank.

Justice Dimgba further explained that the essence of having a social media account implies a willingness to engage in public communication, thus rendering privacy concerns unfounded.

According to him, “First, the Applicant claims that the requirements on the CBN Regulations for financial institutions to request and collect the social media handle of its customers as part of KYC infringes on his right to privacy.”

“This claim is very ambitious and amounts to a very far throw.  The said Regulations are directed to and apply to financial institutions. It does not apply to private individuals such as the Applicant.

“Even if, as appears to be argued, that the Regulations itself would inevitably affect the Applicant, this claim is speculative for the simple reason that in nowhere in the affidavit in support was it stated that the Applicant operates an account with a financial institution and that the said institution had demanded his social media handle.  So the suggestion that he would be affected by this Regulation, albeit negatively, is very speculative and at large.

“Secondly, there is also no deposition to the effect that any financial institution had begun to implement this Regulation and that its implementation had begun to create disruptions and inconvenience against the general population, in which case one could infer that the suit should be legitimated as a public interest litigation.

“Thirdly, assuming even that the banks had begun to implement these regulations, the applicant assuming he maintained any bank accounts or sought to open one, but is being hindered or irritated by the requirement of the Regulation to avail his social media handle as part of KYC, the Applicant still had a choice, which is to refuse to do business with any bank insisting on the information as part of its social media handle, but to seek other alternatives.

“Fourthly, and for all it is worth, I do not see how asking a banking or potential banking customer to provide his social media handle can ever amount to a breach of privacy.

“Granted that Section 37 of the Constitution of the Federal Republic of Nigeria 1999 (as amended) provides inter alia: The privacy of citizens, their homes, correspondence, telephone conversations and telegraphic communications is hereby guaranteed and protected.

“My view is that the provision of a social media handle is of the same genre as the provision of email address, phone numbers and other means by which a potential customer of a bank can be contacted.

“Thus, it is clear from the face of the Regulations as set out above that email addresses, phone numbers and social media handles are all provided for under clause 6iv just to show that the aim was not to pry on anyone but rather to provide alternative ways by which a customer of the bank can be contacted, and or due diligence conducted on the person to determine if the person is a fit and proper person to extend banking services to.

“I do not see how this infringes on the right to privacy. I should even say that the essence of having a social media account was for one to be publicly visible communication-wise.  It, therefore, appears quite ironic, though wryly, that one can suggest that asking for information about a social media handle with which the individual exposes and immerses himself or herself in the public, can amount to a violation of privacy rights, which rights itself is all about isolation of one from public glare.

“It is also to my knowledge that even in filling some business applications,  personal information of this sort, is sometimes requested, and parties generally oblige. If it does not constitute a breach of privacy, why should it now?

“A social media handle is left at large for the world to see, being in the public space, everyone enjoys the liberty to have access to it whether or not consent was obtained. It would be highly unreasonable to hold the Respondent in breach of privacy for what other persons have access to.

“The apprehension of the Applicant of his social interactions being monitored is manifestly speculative in itself and rather incredulous to believe that the financial institutions have the luxury of time to concern itself with such frivolities.

“On the whole, if I did not sustain the NPO, I would have dismissed the suit for the reasons stated. But the NPO having been sustained, the suit is therefore hereby struck out.”

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N1.3trn power debt: Tinubu approves payment, unveils plan to liquidate gas debts

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President Bola Ahmed Tinubu has given approval for the payment of N1.3trn legacy debts owed power generation companies.

Minister of Power, Chief Adebayo Adelabu speaking at the 8th Africa Energy Market Place 2024 in Abuja said that President Bola Tinubu has approved a plan to liquidate the debts.

According to him, “Mr. President has approved the submission made by the Minister of State Petroleum (Gas) to defray the outstanding debts owed to the gas supply companies to power generation companies. The payments are in two parts, the legacy debts and the current debts. For the current debt, approval has been given to pay about N130 billion from the gas stabilisation fund which the Federal Ministry of Finance will pay.”

“The payment of the legacy debt will be made from future royalties in exchange for incomes in the gas subsector which is quite satisfactory to the gas suppliers. This will allow the companies to enter into firm contracts with power generation companies.

“For the power generation companies, the debt is about N1.3 trillion and I can also tell you that we have the consent of the President to pay, on the condition that the actual figures are reconciled between the government and the companies. This we have successfully done and it is being signed off by both parties now. Majority has signed off and we are engaging to ensure that we have 100 percent sign off.

“The debt will be paid in two ways, immediate cash injection and through a guaranteed debt instrument, preferably a promissory note. This assures the companies that in the next three to five years, the government is ready to defray these debts.”

The Minister further stated that the government was working to get the distribution companies solvent and effective by unbundling their operations along state boundaries.

He insisted that the areas covered by the current DisCos were too large for them to deliver effective services to consumers.

In the same vein, the Chairman of the Nigerian Electricity Regulatory Commission (NERC), Engr. Sanusi Garba lamented the poor financial state of the DisCos, noting that it is difficult for them to raise the needed capital to invest.

Engr. Garba pointed out that the challenges facing the sector were a culmination of all past inactions and missteps by those saddled with the responsibilities of managing the sector both at policy and operational levels.

According to him, “Today when you look at distribution companies they are clearly and technically insolvent, and you also want them to raise capital in terms of debt or equity. It’s a Herculean task. I also want to mention that implementing the power sector reform requires very strong political will to implement decisions that impact on the wider public.”

However, the African Development Bank (AfDB) disclosed that it has so far spent over $450 million to support various power sector projects and programmes with another $1 billion planned to support the power sector reform effort by the government.

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Emirates Airline to resume Lagos-Dubai flights October 1

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Emirates Airline has disclosed that it will resume services to Nigeria from October 1, 2024, operating a daily service between Lagos and Dubai.

This development was announced in a statement on Thursday by the airline, which has its hub in the United Arab Emirates (UAE).

The airline disclosed that flight services will be operated using a Boeing 777-300ER.

“We are excited to resume our services to Nigeria. The Lagos-Dubai service has traditionally been popular with customers in Nigeria and we hope to reconnect leisure and business travellers to Dubai and onwards to our network of over 140 destinations.

“We thank the Nigerian government for their partnership and support in re-establishing this route and we look forward to welcoming passengers back onboard,” Emirates’ Deputy President and Chief Commercial Officer, Adnan Kazim, said.

Recall that Emirates Airlines had suspended its Dubai-Lagos flights in 2022 over its inability to repatriate trapped funds in Nigeria in the heat of the diplomatic row between the two countries.

This comes after Festus Keyamo, Minister Of Aviation And Aerospace Development in a post on his X (formerly Twitter) page had disclosed that he got correspondence from Emirates Airline when he visited Salem Saeed Al-Shamsi, ambassador of the United Arab Emirates (UAE) in Abuja.

 ”Yesterday, I paid a working visit to the Ambassador of the UAE to Nigeria, His Excellency, Salem Saeed Al-Shamsi at the UAE Embassy in Abuja. He handed me a correspondence from the Emirates Airline indicating a definite date for their resumption of flights to Nigeria,” Keyamo said.

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