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How courts affirm Adewoyin as substantive National President of IPMAN —Investigation

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The leadership battle plaguing the Independent Petroleum Marketers Association of Nigeria (IPMAN) seems to have neared its end as investigation affirmed Chief Kolawole Adewoyin as the authentic National President of the Union, investigation revealed.

Since 2014, the association has been enmeshed in a leadership crisis and protracted legal battle on the authentic leadership of the National Executive Committee of IPMAN.

While it has been a been serious tussle between Engineer Sanusi Abdu Fari and Elder Chinedu Okoronkwo, Judgments from both High Court and Appeal Court have however affirmed that Chief (Dr) Kolawole Adewoyin is actually the authentic National President of IPMAN.

The court documents also shows that the selection of Alhaji Debo Ahmed by Engineer Sanusi Abdul Fari to succeed him as IPMAN National President was illegal.

Investigations showed that Chief (Dr) Kolawole Adewoyin has many favourable court judgements against Engineer Sanusi Abdu Fari, Debo Ahmed and Elder Chinedu Okoronkwo.

In  one of the cases filed on the 26th of June 2020 by Chief (Dr) Kolawole Adewoyin at the Federal High Court, Ibadan, against Engineer Sanusi Abdul Fari and his National Executive Council of IPMAN, Alhaji Debo Ahmed and the Registered Trustees of IPMAN and which a judgement was delivered by Justice J.O Abdulmalik on the 18th of November 2020.

ORDER OF THE COURT

Upon this originating summons dated 25th of June 2020 and filed on the 26th of June 2020, coming up before this Honourable Court for Judgment on the 18th day of November 2020 seeking the following reliefs:

  1. A Declaration that the continuous occupation of the office of National President of IPMAN by the 1st Defendant after his expiration of his three years in office is wrongful and a gross violation of Article IX of the Independent Petroleum Marketers Association of Nigeria (IPMAN) 1997 Constitution.
  2. A Declaration that the Plaintiff who was elected and sworn in on 20 March, 2017 as National Deputy President as Deputy to the 1st Defendant is lawful and rightful person to take over as (IPMAN) National President in accordance to the principle of automatic succession enshrined in Article IX of the 1997 IPMAN’s Constitution.
  3. A Declaration that the Plaintiff, Chief (Dr) Kolawole Adewoyin has been duly sworn in as National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN).

3rd Defendant and be recognized as such by the members and board of Trustees of the 3rd Defendant.

An Order of perpetual injunction restraining the Defendants their Executive members, agents privies and however described from parading the 1st and 2nd Defendants as National President and Deputy National President of the 3rd Defendant.

An Order directing the 1st Defendant whose tenure expired and ended on 21st March 2020 to immediately vacate office, deliver and hand over the office to the Plaintiff as the duly elected National President of Independent Petroleum Marketers Association of Nigeria (IPMAN) in line with the Article IX of the 1997 Constitution of Independent Petroleum Marketers Association of Nigeria 1997.

An Order of Perpetual Injunction restraining the 1st and 2nd Defendants or any other persons whatsoever either by themselves, agents, privies, associates, corroborators or whatsoever called, from parading themselves as the National President or Deputy National President of the 3rd Defendant.

Any Further Order or Orders this Honourable Court may deem fit to make in the circumstances of this case.

Upon reading the affidavit in support of the originating summons deposed by Chief Kolawole Adewoyin, Adult, Male Christian, Nigeria Citizen of No 10, Ibadan/Lagos Express road, Ayetoro, Toll Gate area, Ibadan, Oyo State.

And after Hearing, M.O. Oladejo Esquire Counsel to the Plaintiff who moved the Amended Originating Summons and urged the Court to grant the application, while Adeshina Olaniyan Esquire Counsel to the Defendants/ Respondents who opposed the said Application. And both counsels adopted their written submission.

And the Court having delivered its Judgment today the 18th day of November 2020.

IT IS HEREBY DECLARED As FOLLOWS: That the continuous occupation of the officer of National President of IPMAN by the 1 Defendant after his expiration of his three years in office is wrongful and a gross violation of Article IX of the Independent Petroleum Marketers Association of Nigeria (IPMAN) 1997 Constitution.

That the Plaintiff who was elected and sworn in on 20th March 2017 as National Deputy President as deputy to the 1s Defendant is Lawful and rightful person to take over as (IPMAN) National President in accordance to the principle of automatic succession enshrined in Article IX of the 1997 IPMAN’s Constitution.

That the Plaintiff, Chief (Dr) Kolawole Adewoyin be duly sworn in as National President of the 3rd Defendant and be recognised as such by the members and Board of Trustees of the 3rd Defendant.

IT IS HEREBY ORDERED AS FOLLOWS: AN ORDER of perpetual injunction is granted restraining the Defendants their executive members, agents, privies, and however described from parading the 1st and 2nd Defendants as National President and Deputy National President of the 3rd Defendant.

That the 1st Defendant whose tenure expired and indeed on the 21st March 2017 shall immediately vacate office, deliver and hand over the office to the Plaintiff as the duly elected National President of Independent Petroleum Marketers Association of Nigeria (IPMAN) in line with the Article IX of the 1997 Constitution of Independent Petroleum Marketers Association of Nigeria 1997.

AN ORDER of Perpetual Injunction is granted restraining the 1st and 2nd Defendants or any other person whatsoever either by themselves, agents, privies, associates, corroborators or whatsoever called, from parading themselves as the National President and Deputy National President of the 3rd Defendant.

It was Issued at IBADAN under the Seal of Court and the Hand of the Presiding on this 18th day of November, 2020.

Also an originating summons from Federal High Court of Nigeria, Abuja Division was served on Elder Chinedu Okororonkwo and two registered trustees of Independent Petroleum Marketers Association of Nigeria in 2021.

ORIGINATING SUMMONS BROUGHT IN PURSUANT TO ORDER 3 AND 4 OF THE FEDERAL HIGH COURT (CIVIL PROCEDURE) RULES, 2019: ARTICLE IX AND IX (iii) OF THE 1997 CONSTITUTION OF THE INDEPENDENT PETROLEUM MARKETERS ASSOCIATION OF NIGERIA (IPMAN AND UNDER THE INHERENT JURISDICTION OF THIS HONOURABLE COURT.

Elder Chinedu Okoronkwo and (2) the Registered Trustees Of Independent Petroleum Marketers Association Of Nigeria (IPMAN) whose address is No 41, Gnassingbe Eyadema Street, Asokoro, Abuja and No 3 Jabba Close off Dunukofia Street by FCDA Minister’s Gate, Area 11, Abuja, FCE, Within 30 days after service of this summons on them, inclusive of the day of such service cause an appearance to be entered for them to this summons which is issued upon the application of Chief (Dr) Kolawole Adewoyin (the Plaintiff, whose address is  No. 10 lbadan, Lagos/Ibadan Express Road, Ayetoro Toll Gate Area, Ibadan, Oyo State  for the determination of the following Questions/issues:

  1. Whether the Plaintiff who was duly elected and sworn in on 20 March, 2017 as National Deputy President of the Independent Petroleum Marketers Association of Nigeria can validly take over as the President in line with the principle of automatic succession enshrined in Article IX of the 1997 Constitution of the Independent Petroleum Marketers Association of Nigeria?
  2. Whether the 13 Defendant who was never validly elected by the members of the 2 Defendant can parade himself as the National President of the 2 Defendant against the rights of the Plaintiff who by the Constitution of the 2 Defendant is entitled to automatically take over and be sworn in as the National President of Independent Petroleum Marketers Association of Nigeria (IPMAN).
  3. Whether by the Spirit and letters of the 1997 Constitution of the Independent Petroleum Marketers Association of Nigeria, article IX, the Plaintiff can automatically take over.

Further investigations showed that after competent courts of law have declared Chief (Dr) Kolawole Adewoyin as the authentic National President of IPMAN, the duo of Elder Chinedu Okoronkwo and Alhaji Debo Ahmed are still claiming to be National Presidents of IPMAN.

Also in a new judgment delivered by Court of Appeal, Ibadan, on August 5, 2022, the Court affirmed Chief Kolawole Adewoyin is the authentic National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN).

The new judgement delivered by Justice Kenneth Ikechukwu Amadi has now brought an end to the lingering leadership crisis facing the Independent Petroleum Marketers Association of Nigeria (IPMAN) in the country.

In the ruling and judgement at the Court of Appeal Ibadan, the Judge, Kenneth Ikechukwu Amadi berated the duo of Engineer Sanusi Abdullahi Fari and Debo Ahmed for refusing to vacate the office of National President of IPMAN.

The Appeal Court held that the 1997 constitution is unambiguous, and unanimously affirmed the Federal High Court judgement of 18th November 2020.

The Appellate Court also ordered both Engineer  Sanusi Abdullahi Fari and Ahmed Debo to vacate and henceforth desist from parading themselves or any of their proxies from laying claims, exercising, carrying out the functions of the National President of IPMAN other than Chief Dr. Kolawole Adewoyin.

The Court also slammed a fine of N300,000,00  against Engineer Sanusi Abdullahi Fari and Ahmed Debo and ordered that the money be paid to Chief Dr. Kolawole Adewoyin.

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Nigeria’s Sovereign Wealth Fund hits $2.5bn

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…As NSIA grows income by 1,122% to N1.18 trillion in 2023

Latest statistics from the Nigeria Sovereign Investment Authority (NSIA) has revealed that the Nigerian Sovereign Wealth Fund has hit $2.5bn.

The NSIA was initially allocated an initial sum of US$1 billion in seed capital in 2013.

The record N1.184 trillion Total Comprehensive Income recorded by the Nigeria Sovereign Investment Authority (NSIA) in 2023 was largely driven by four tactical strategies, including cost efficiency, efficient balance sheet management, infrastructure investment and a focus on projects that yielded sustainable earnings.

This was disclosed by Aminu Umar-Sadiq, NSIA Managing Director & Chief Executive Officer who spoke to the media on Thursday, on the Authority’s recently released financial result.

NSIA’s total Comprehensive Income surged 1,122 percent to N1.18 trillion in 2023, relative to N96.96 billion reported in 2022. Total Comprehensive Income (excluding foreign exchange gains) equally rose from N21.39 billion in the previous year to N164.69 billion, marking a 670 percent growth.

Presenting the Authority’s 2023 financial performance to the media in Abuja, Umar-Sadiq explained that the renewed focus of the Authority which manages the country’s $2.5bn played a key role in delivering such impressive results.

According to him, the focus area on efficient balance sheet management ensured the timely availability of both local and foreign currency investments, thereby optimising currency utilization. This strategy also ensured optimal asset allocation and utilisation and retained a substantial portion of the balance sheet in foreign currency.

Also, with the focus on sustainable earnings, the NSIA directed efforts towards swiftly stabilising infrastructure projects. This, according to him, entailed engaging with instruments that guarantee consistent and reliable returns, further bolstering the Authority’s financial stability.

Umar-Sadiq further disclosed that the NSIA pioneered investment initiatives, particularly in environmentally sustainable ventures, with notable successes achieved through partnerships in green climates with organisations like CarbonVista.

It also prioritised cost efficiency, striving to transition towards digitised, streamlined operations that effectively addressed prevailing challenges. This shift, he said, optimised resources and enhanced operational effectiveness, further contributing to NSIA’s “excellent” financial performance.

As contained in its financial statement, NSIA in the last 10 years has continued to show resilience and growth in asset performance while creating value within the economy. Its net assets have grown from N156 billion ($1 billion) in 2013 to N1.189 trillion, an equivalent of $2.47 billion as at 2023.

In 2023 alone, Total operating income rose substantially from n101.1 billion in the previous year to N1.176 trillion, representing a 1,064 percent year-on-year increase.

NSIA strategically optimised its asset allocation, resulting in a Total Comprehensive Income of N1.184 trillion for 2023 – a remarkable 1,122 percent growth from N96.96 billion in 2022.

Amidst a challenging global financial landscape, the Authority’s core Total Comprehensive Income (excluding foreign exchange gains) rose from N21.39 billion in the previous year to N164.69 billion, marking a 670 percent increase attributable to the Authority’s robust strategic asset allocation and adherence to best-in-class enterprise risk management processes.

“I think a combination of our strategic and tactical activities is what helped us transition from N96 billion net returns in 2022 to over N1 trillion in net returns in 2023,” Umar-Sadiq told journalists.

“Whilst of course there is a component of foreign exchange gains in this, you will see that even on the core basis, we actually grew our returns by over 650 percent, to 160 billion,” he added.

Besides, the NSIA embarked on several infrastructure-focused activities in 2023, and “largely achieved what it set out to do in the financial year.”

Some of those projects include the 10MW Kano solar project which is the largest grid-connected solar PV plant in Nigeria; launch of strategic platforms including $202m MEDSERVE and $63m Equilease; $50mn launch of Renewables Investment Platform for Limitless Energy (RIPLE) and a strategic partnership agreement with the IFC, among other initiatives.

In addition to its financial performance, the NSIA boss informed that the Authority emerged tops at the 2023 Global SWF Governance, Sustainability, and Resilience Ranking, after scoring a perfect 100 percent, with esteemed SWFs like Temasek and NZ Super Fund.

Umar-Sadiq explained that the GSR Scoreboard analysis reflects the Authority’s substantial progress from a previous score of 84 percent, showcasing its enhanced sustainability practices including improved policies, a robust framework, climate investment leadership, and impactful reporting.

For 2024, the Authority will lay strong emphasis on enhancing fiscal responsibility within the institution to maintain stability and credibility, as well as attracting foreign investments.

The MD was confident of an excellent financial performance in 2024, noting over $500 million investments in domestic infrastructure which has created some 545 direct and indirect jobs.

He also underscored commitment to operationalising existing platforms to effectively attract foreign capital to complement its existing resources and emphasized the need for scalability to maximise the Authority’s impact within its operational sphere.

NSIA strategic priorities in 2024 are outlined in four key areas – operationalising its subsidiaries; broad and ambitious digitisation strategy and cost-efficiency strategy in place; focus on pioneering initiatives in new sectors, driving innovation and strategic growth to stay at the forefront of economic development; and building strong relationships with regulators, strategic partners, and development finance institutions (DFIs).

NSIA Executive Director and Chief Operating Officer, Bisi Makoju, further shed light on the organisation’s financial performance, emphasising efficient fiscal management within the Authority,

According to her, a significant indicator of NSIA’s fiscal discipline is its core income ratio analysis for the year 2023 which showed a remarkable drop to 8.6 percent, as against 30.2 percent in 2022.

“This signifies that NSIA is spending significantly less than what it is earning and kept expenses below the inflationary rate,” she emphasised.

“Despite a challenging economic environment with inflation reaching approximately 28 percent by the end of 2023, the Authority’s year-on-year change in expenses stood at approximately 18.4 percent.”

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Mixed reactions trail Adeleke’s proposed new logo for Osun state

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By Ismail Azeez, Osogbo

Following the condemnation that trailed the unveiling of a new logo for Osun state, Governor Ademola Adeleke has directed the holding of a logo crafting competition between April 19th and 26th.

Governor Adeleke had on Wednesday, assented to a bill adopting a new logo for the state.

Adeleke, through a statement signed by his spokesperson, Olawale Rasheed, said the new symbol is a signal of a new rebirth for Osun state.

However, the opposition party has condemned the new Logo, describing the bill on creating a new logo for the state as a waste of the taxpayers money which at the end will not make any impact.

A statement signed by the chairman of the Allied Peoples Movement (APM), Wale Adebayo, in Osogbo, Osun state capital, said that the whole idea about the new logo project was misplaced, as it amounts to climbing a tree from the top.

“We at the APM align with the critical mass of the state to say we are not impressed with the new logo project, it’s simply a waste of taxpayers’ money.

“The people need leadership that can transform their lives and concerns, provide employment opportunities for them and not logo. What has the administration given to the masses since it was sworn in? Absolutely nothing, people need the leadership of the state to solve their problems. The quality of leadership, the contentment of your citizens and the level of security in your state is what should matter.”

But, in another press statement issued on Thursday, signed by Governor’s Spokesperson, Olawale Rasheed, said, “those submitting a design are to take into account the prototype logo in terms of its contents and style.

“The submission can be made in person both soft and printed copy to the Office of the Commissioner, Ministry of Information and Public Enlightenment.

“Entries can also be submitted online via [email protected] or [email protected], with bio data and contact details of the designer. The subject should be with the subject ‘OSUN STATE LOGO.’

“The best design will be announced on April 28 and will be  unveiled on April 30th during the new edition of Ipade Imole.

“Commenting on the one week competition, Governor Adeleke noted as follows:

“As a listening leader,  I have asked that we open the change of logo to more public input through this one week competition.

“The best three designers will be invited and compensated,” the statement added.

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PDP NEC endorses Damagum-led NWC

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The National Executive Committee (NEC) of the People’s Democratic Party (PDP) at its 98th meeting in Abuja, yesterday gave a nod for the Amb. Umar Damagum-led National Working Committee (NWC) to continue in office.

Chairman of the PDP Governors Forum and Bauchi State Governor, Bala Mohammed, while fielding questions from journalists after the NEC meeting, expressed delight that contrary to expectations of the party’s enemies, the meeting was held in s peaceful atmosphere.

The camp of former Vice President, Atiku Abubakar, had moved to have Damagum return to his position as Deputy National Chairman (North) to let the North Central produce a substantive National Chairman to complete the truncated tenure of former Chairman, Dr. Iyiorchia Ayu.

Bala said, “You can see there was no dissension and rancour. It was planned that the party will have an implosion. PDP is more than that, we have given beyond all these.

“This party is a united party that is guided by experience and constitutionality. There were a lot of permutations and mischievous thinking outside there.

“But we looked at all the issues and we worked along our guidelines and constitution. There is no problem or dissension among members.”

On the issue of a new chairman from North Central, the PDPGF Chairman said, “In the next two months we will see a lot of activities.”

“Leadership is a responsibility. We said in September we would have come out from our congresses.

“We will look at the issue of leadership and look at the issue of our constitution where it will be. And we will do it with no rancour.”

Also speaking shortly after the NEC meeting, Damagum told reporters that the position he occupies is not a matter of life and death for him.

He said, “This is not a matter of life and death. I am still an elected member of this NEC. Even If I revert to deputy national chairman I’m still a member of NWC. The issue of surviving or not does not emerge.”

National Publicity Secretary of the party, Hon. Debo Ologunagba, who read the communique after the NEC meeting, said, “The NEC of our great Party, at its 98th meeting today, Thursday, April 18, 2024, thoroughly assessed the State of affairs of the Nation and the Party and resolved as follows:”

“NEC commends all the Organs of the Party for their collective resilience, steadfastness and commitment towards the unity, stability and sustenance of our great Party despite daunting challenges.

“NEC also commends members of the PDP, with particular reference to the youths and women for their courage in resisting the antics of the divisive and anti-people All Progressives Congress (APC), especially, its desperation to emasculate the opposition and foist a one-Party State on our nation.

“NEC expresses concern over the ill-implemented policies of the insensitive APC administration, leading to worsening insecurity, harrowing economic hardship, soaring unemployment rate, high cost of food and other necessities of life with pervading misery and despondency across the country.

“NEC expresses serious apprehensions over the spate of acts of terrorism and violence including the escalated cases of mindless killings, mass abduction of innocent Nigerians and marauding of communities in various parts of the country.

“NEC condemns the insensitivity, nonchalance, incompetence and arrogance in failure of the APC administration which continues to conduct itself in a manner that shows that it has no iota of interest or commitment towards the wellbeing of Nigerians.

“NEC also condemns the creeping totalitarianism and tendencies towards a One-Party State which is inimical to the peace, stability and corporate existence of our nation as well as the development of Democracy and good governance in the country.

“NEC, after due consideration demands that President Bola Ahmed Tinubu should urgently convene a special National Security Council meeting to proffer a holistic solution and measures to curb the disturbing insecurity with its attendant negative consequences on our national life.

“NEC also demands that President Tinubu should immediately rejig his Economic Team to bring in persons of proven integrity and competence without bias and vested interest to assist in repositioning the economy.

“NEC further demands that the Federal Government should review all policies and programmes which are stifling the economy with a suffocating effect on the lives of citizens; including the increase in price of fuel without cushioning measures, hike in electricity tariff, increased taxation and implementation of adverse fiscal policies.”

According to him, it was also agreed at the meeting that all Organs, leaders, critical stakeholders and indeed all members of the PDP should close ranks, put aside every personal or group interests and work together in the overall effort to reposition and return the PDP to power at the center in the interest of the Nigerian people.

Other key decisions taken include the consideration and approval of the Timetable for Party Congresses across the country.

It  also  approved the Reconstitution of the Party Disciplinary and Reconciliation Committees to further ensure the stability of the Party.

The body also approved the extension of the life of the Party Constitution Amendment Committee to allow it to receive new amendment proposals for inclusion in its deliberation and final report for consideration by NEC.

Ologunagba equally announced that “NEC commended the efforts of the National Working Committee in its effort towards rebranding the Party including the new look PDP Logo which is widely accepted by Party members and Nigerians in general.”

Earlier, in his opening remarks the BoT Chairman, Sen. Adolphus Wabara, expressed concerns about the attitude of party leaders toward observing constitutional provisions and conventions with respect to party leadership positions.

He cited the controversy surrounding the position of the Ag. National Chairman as well as the National Secretary.

Wabara said, “We cannot ignore the fact that our party is facing internal strife, fueled by inactions, disagreements and misunderstandings that threaten to undermine the very foundation upon which the PDP stands.”

“The recent events have brought to light the urgent need for reconciliation, unity, and collective action to steer our party back on course.

“As the custodians of our party’s values and principles, it is incumbent upon us to address the crises that have arisen from the recent challenges surrounding the leadership and actions of the National Working Committee.”

Also in his opening remarks at the beginning of the NEC meeting, Damagum gave an account of his stewardship since he assumed office about one year ago.

He said, “Let me specially welcome you to this all important meeting, the first of its kind coming after the 2023 general elections.”

“As you are all aware that the last general elections came with lots of unexpected challenges that robbed us of victories.

“These challenges were both internal and external. However, the outcomes of the general elections were appropriately challenged by our well selected legal teams in all the Election Petition Tribunals down to the final Court where the final verdicts were delivered.

“As a law abiding party, we accepted the verdict of the final Court but not without many reservations.However, we must give kudos to our legal team for their tenacity and professionalism while the case lasted and our party faithful who were always physically available during each sitting to give moral support to the party.”

He congratulated all elected governors and legislators of the party for winning their elections, especially those who were returned by various electoral tribunals.

Presenting his report on off-cycle elections under his watch, Damagum said, “NEC will also recall that there have been off-cycle elections that have been concluded.

“The outcome of the off-cycle elections in the trio states of Imo, Bayelsa and Kogi have come and gone with our party retaining Bayelsa state.

“Preparation is also on in Edo and Ondo governorship elections. With the support of all concerned we are confident that soon we will congratulate ourselves.”

On the state of the nation, the PDP Acting National Chairman said, “It is no longer news that Nigerians are suffering under the hard and unfriendly APC-led government.

“The rate of unemployment, poverty, insecurity is so high that most Nigerians go to bed without food in their stomach. Our farmers can no longer go to their farms because of fears of being killed.

“Industries are closing down and moving to neighbouring countries as a result of unstable power supplies, unfavourable government economic policies.

“Young Nigerians and professionals of various fields now sleep in various embassies so as to procure their papers and JAPA.”

He also spoke of efforts being made to reconcile and unite aggrieved members in the overall interest of the party.

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