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Opposition cries foul as Supreme court affirms Tinubu’s election

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…S’Court has done justice “without fear or favour” — Tinubu     

…Judgement a mockery — HURIWA, advises Atiku to quit politics, allow youngsters like Obi

…I have no regret, we’ll support Tinubu again in 2027 — Wike

By Moses Adeniyi

The Supreme Court closed on Thursday the eight months legal  battle between Atiku Abubakar and Peter Obi, and their respective parties, the Peoples Democratic Party (PDP) and the Labour Party (LP), and President Bola Tinubu of the All Progressives Congress (APC) over the outcome of the February 25  presidential election.

The apex court in its verdict affirmed the decision of the Presidential Election Tribunal Court which earlier affrimed the victory of Tinubu as declared by the Independent National Electoral Commission (INEC).

The verdict of the apex court as the last court of resort shattered the hope of Atiku and Obi who had vowed to fight to the last to reclaim their mandates by exploring all legal means, having argued the election was fraught with malpractices.

The apex court on Thursday affirmed that other panel members agreed with the lead judgment delivered by John Okoro, dismissing Atiku’s appeal  challenging the judgement of the presidential petition tribunal.

The seven-man panel agreed to reject the application of Atiku, seeking to present Tinubu’s credentials obtained from the Chicago State University (CSU).

Other justices on the panel who agreed with Okoro are Uwani Aji, Mohammed Garba, Ibrahim Saulawa, Adamu Jauro, Abubakar Tijjani, and Emmanuel Agim.

Salawa Ibrahim said, “The application by Atiku is frivolous and vexatious and deserves to be dismissed. I find no merit in the appeal and dismiss, and I affirm the decision of the lower court.”

Agim said, “I agree with the reasoning if the decision the fresh evidence is not authentic stated by the authority before it was presented. It was not sealed or had the signature. It cannot be used in Nigeria without authentication.

“I agree to why. It was obvious to all including those that brought it. The FCT violates the Fundamental principle of the interpretation of the Constitution and it must be interpreted in a way that provides equality. The parties should bear their cost.”

The court further said the issues raised by Obi had been dealt with in Atiku’s appeal.

The court also said the issue of double nomination ought not to have been brought before the court.

All other justices on the panel agreed with the lead judgement.

Since the results declared by INEC, Atiku, Obi who came second and third respectively, and their respective parties have declared their resistance against the outcome, vowing to explore all legal means to fight to the last.  

Not agreeing with the verdict delivered by the Presidential Election Tribunal Court which in September upheld the victory of President Tinubu as declared by the INEC, the duo had approached the Supreme Court to appeal the judgement, praying the apex court to set aside the judgement by the tribunal court.

Dissatisfied with the Tribunal’s judgement, Atiku and Obi filed 86 grounds of appeal at the Supreme Court to nullify the judgement.

Atiku had in his legal adventure strove vehemently   on grounds of falsification of documents presented by Tinubu, harping much on alleged  certificate forgery from the Chicago State University (CSU) where Tinubu claimed to have  graduated from. 

Atiku upon securing a US court ruling ordering the CSU to produce academic records of Tinubu, had prayed the Supreme Court to allow him present fresh facts on the ground that Tinubu forged the certificate he presented to INEC.

In his response, Tinubu had  described the application as “abusive in nature” and prayed for its dismissal.

Tinubu had  challenged the application for the introduction of fresh evidence.

Tinubu argued the allegation of certificate forgery was not introduced in Abubakar’s petition at the tribunal, and thus, his academic records obtained from CSU cannot be considered by the Supreme Court.

Among several issues raised by Atiku and Obi in the legal battle, it was alleged that the election was fraught with irregularities and substantial non-compliance with the Electoral Act.

Also alleged was that Tinubu and Vice-President Kashim Shettima were not qualified to contest and did not win the election by the majority of lawful votes cast.

The court had on Monday in its ruling, told Atiku to prove the allegation of certificate forgery levelled against Tinubu beyond reasonable doubt. 

The apex court stated this following the submission of Atiku’s lead counsel, Chris Uche, SAN, urging the court to admit the fresh evidence brought by the petitioners.

Of the three petitions that were entered at the Supreme Court, only two of them made it to the last lap of the litigation.

A seven-man panel of the apex court had last Monday, dismissed the case the Allied Peoples Movement (APM) instituted to nullify President Tinubu’s election victory, after the party reluctantly withdrew its appeal which the panel insisted was academic and of no useful legal purpose.

Consequently, the surviving appeals were those  of Atiku and Obi.

All the parties adopted their final briefs of argument on Monday, leading to the judgement on Thursday. 

…Mixed reactions trail judgement

Following the judgement of the court, mixed reactions trailed the verdict as stakeholders in turn hailed or condemned the decisions  according to interest.

President Bola Tinubu, welcoming the Supreme Court verdict, which upheld his electoral victory, said the apex court has done justice “without fear or favour.”

He promised Nigerians to exceed expectations in terms of service delivery in the remaining years of his administration.

“I welcome the verdict of the Justice John I. Okoro-led Panel of the Supreme Court on the Presidential Election petitions filed by the candidates of the Peoples Democratic Party and the Labour Party, challenging the ruling of the Presidential Election Petition Tribunal.

“The court has done justice to all issues put up for consideration in the petitions on the merits of the law, without fear or favour.

“There is no doubt, with the profound judgment of today, that our electoral jurisprudence and constitutional democracy are further consolidated and embedded more indelibly in our national identity because of the diligence and undaunted professionalism of the Honourable Justices who presided over the matter.

“While the verdict of today has laid to rest the agitating discourse over who truly won the 2023 Presidential election and met the constitutional requirements as laid out by law, I want to reiterate that my faith in our nation’s judiciary has never been shaken, not even for a moment, because I know that our hallowed courts of law will not fail to administer justice to all Nigerians in all matters and at all times. 

“Despite the fusillade of pressure and attempts at intimidation by some political actors, the judiciary demonstrated its unequivocal commitment to upholding the rule of law for the upliftment and defense of humanity.

“It was affirmed once more today, that my party, the governing All Progressives Congress, had freely and fairly won the popular mandate of Nigerians, which has since given rise to my leadership of this great nation at a tumultuous period of unprecedented reforms in our history as a nation.

“With deep gratitude to God Almighty, I solemnly and humbly accept today’s judicial victory with an intense sense of responsibility and a burning desire to meet the great challenges confronting our people.

“The victory of today has further energised and strengthened my commitment to continue to serve all Nigerians of all political persuasions, tribes, and faiths with honour and total respect for the diverse opinions and uniting values of our citizens.

“Our Renewed Hope agenda for a greater and prosperous Nigeria has further gained momentum and I will continue to work from morning to night, every single day, to build a country that meets our collective yearnings and aspirations.

“We are all members of one household, and this moment demands that we continue to work and build our country together. The strength of our diversity and the great citizenship that binds us must now compel us forward in directing the energy of our people toward building a virile, stronger, united, and more prosperous country.

“In the days and months ahead, I trust that the spirit of patriotism will be elevated into supporting our administration to improve the living conditions of Nigerians. I am prepared to welcome the contributions of all Nigerians to foster and strengthen our collective progress.

“I send my immense gratitude to all Nigerians for the mandate to serve our country. I promise again to meet and exceed your expectations in service delivery and good governance, working with my team and trusting in the grace of God,” he said.

…S’Court failed Nigerians, judgement disappointing — PDP

Kicking against the verdict,  the Peoples Democratic Party (PDP) described the Supreme Court judgement as disappointing.

The PDP in a reaction by its National Publicity Secretary, Debo Ologunagba, on Thursday said it was alarmed, disappointed, and gravely concerned with the reasoning of the apex court.

“It is indeed a sad commentary for our democracy that the Supreme Court failed to uphold the provisions of the law. Instead, it trashed the expectation of the majority of Nigerians who looked up to it as a Temple of Impartiality to deliver substantial justice in the matter regarding the case’s laws and facts.

“Nigerians earnestly expected the Supreme Court to uphold and defend the clear provisions of the 1999 Constitution in terms of qualification and minimum requirement for a winner to be declared in a Presidential election in Nigeria, especially with regards to the required statutory 25 per cent of votes in the FCT as well as issues of violation of electoral Rules and Guidelines, brazen manipulations and alterations of election results by the APC,” the  party stated.

The opposition party said Nigerians are still at a loss as to how the Supreme Court condoned the serious issues of alleged forgery, falsehood, and perjury on the altar of technicalities.

“The general gloom, melancholy and sense of despondency across the country upon the delivery of the judgment is an ominous sign of eerie situation which portend grave consequences because of the disappointment embedded in the judgment,” the party said. 

It added the apex court’s judgment has shaken Nigerians’ confidence in the judiciary, especially the Supreme Court, as the last hope of the common man.

The PDP mentioning their party remains undeterred, charged Nigerians not to be discouraged or allow the judgment to detract them from their collective quest to entrench a credible electoral system that can guarantee a government that truly derives its legitimacy from the people.

However, while there were opposing views, some Governors, Ministers, Lawmakers, particularly those of the ruling party, among other stakeholders, took to the air hailing the verdict of the apex court.

…S’Court judgement reaffirmation of people’s mandate  — Sanwo-olu 

On his part, Lagos State Governor, Mr. Babajide Sanwo-Olu, a strong ally of Tinubu applauded the Supreme Court verdict,  describing the judgement as a reaffirmation of the people’s mandate, which was “freely given to President Bola Tinubu to lead Nigeria from May 29, 2023, to May 29, 2027.”

Sanwo-Olu, who expressed his delight at the Supreme Court’s ruling via a press statement issued on Thursday by his Chief Press Secretary, Mr. Gboyega Akosile urged the opposition to join hands with the President to move the country forward.

He said, “We have reached the final stage of the political journey, which started over a year ago. Today’s verdict by the Apex Court in Nigeria has ruled and stated unequivocally that Asiwaju Bola Ahmed Tinubu is the President and Commander-in-Chief of the Federal Republic of Nigeria.

“I will enjoin all Nigerians, especially the opposition parties to join the President in his desire to take Nigeria out of her present situation to where we want it to be.

“Everyone should contribute their quota for the development of Nigeria because we don’t have any other place we can call home except Nigeria.”

Governor Sanwo-Olu also applauded the judiciary for standing up for the truth and for protecting the country’s fledgling democracy.

The Governor enjoined Nigerians across party divide to team up with President Bola Tinubu to deliver the real dividends of democracy to Nigerians through the Renewed Hope agenda of the incumbent administration, saying the Supreme Court’s verdict is a victory for democracy and the rule of law.

…Buhari hails judgement, says “opposition has fought a good fight”

On his part, immediate past president, Muhammadu Buhari, under whose watch the presidential election was conducted,  hailed the verdict of the Supreme Court, saying the judgement is a relief to him and many Nigerians.

Buhari urged Atiku Abubakar, and Peter Obi to take the hand of fellowship extended to them by the Tinubu-led administration.

The former President stated this in a post on X (formerly Twitter) by his former Senior Special Assistant, Media and Publicity, Garba Shehu, on Thursday.

“The former President repeated what he said on the earlier 6 September verdict of the Presidential Election Petition Court which affirmed President Bola Ahmed Tinubu’s victory that the decision is “a reaffirmation of the will of the majority of the people against the determined will of a hard-fighting minority,” Shehu stated.

Buhari stated that the opposition (both Abubakar and Obi) had fought a “good fight,” adding that they should “take the hand of fellowship extended” by the Tinubu-led administration.

“Now that we have arrived at the last bus stop, after a tortuous 8-months of expensive legal journey, the nation deserves a break. The opposition has fought a good fight. Having now exhausted their rights as constitutionally allowed, they should take the hand of fellowship extended by the Tinubu/Shettima APC government.

“Let them allow the government to run their administration and the people to have the benefit of the promises the All Progressives Congress, APC made.

“Buhari urged Nigerians, especially those living in the urban areas, to exercise their civic rights to vote, “and this should change given the acceptance and vibrancy of democracy in Nigeria,” the post read.

…I have no regret, we’ll support Tinubu again in 2027 — Wike

Commenting, the Minister of the Federal Capital Territory (FCT), Nyesom Wike, said he has no regrets throwing his support base behind Tinubu in the presidential election against the candidate of his party, Atiku.

The former Rivers State Governor pledged to do same  in the next election in 2027.

The minister made the declaration on Thursday in Abuja, while playing host to leaders of the APC from Rivers State, led by the National Vice Chairman, South-South, Victor Giadom.

 ”Let me say clearly and to the hearing of everyone: we owe a duty to continue to support Mr President irrespective of the political party we belong.

“My position is not hidden. I owe nobody no apologies that I stand firm with Tinubu. I stand for equity, fairness and justice.

“I thank God today that the battle has ended to the glory of God. We are all members of the Nigerian State and therefore it is important for all of us to also understand that the Nigerian State does not belong to a particular person or group.

“A country of this nature, if A takes, the next opportunity should go to B. Inclusivity. So, I am not going to discriminate against anyone. I am here for Nigerians. I am here for those who are members of political parties and those who are not members of any political party.

“Mr. President, having emerged, is not the President of APC. He is the President of Nigeria. Of course, while he is governing Nigeria, he must also take care of the interests of his political party, no one can argue that. It is natural.

“But when it comes to governance, Nigerians must benefit.

“The interest of Rivers State is key. What will benefit our state is what we must always project. I am not a member of the APC but I believe that the support for Asiwaju was necessary.

“Looking at all the candidates from the South, I knew that nobody could defeat Asiwaju. The capacity and political will to take action; he has it.

“Most of you worked for Asiwaju. Those who didn’t work for Asiwaju we know. It was not hidden. It was clear,” he said.

“But be assured that all of us are working together for President Bola Tinubu.

“I am sure in the next election, those who scored 2,000 would not get 50 votes again because we have nothing to give anybody again because our votes would go for President Bola Tinubu,” he pledged.

On his part, the Deputy President of the Senate, Senator Jibrin Barau,  hailed the Supreme Court judgment,  describing the judgement as a victory for democracy, while urging the appellants to join hands with President Tinubu to address the challenges facing the country.

Senator Barau, in a statement by his Special Adviser on Media & Publicity, Ismail Mudashi urged the appellants to accept the ruling by the apex court in good faith.

Barau said, “The legal battle is over with today’s judgement of the Supreme Court, affirming the victory of President Bola Ahmed Tinubu at the February 25, 2023, presidential election. Nigerians have won, democracy has won, and the country will be better for it.”

He reiterated the commitment of the National Assembly to come up with legislation to support the various initiatives of the executive for the revival of the economy, attainment of sustainable peace, unity and development of Nigeria as a whole.

…We must come together now or have ourselves to blame – Gbajabiamila tells Atiku, Obi

On his part, President Bola Tinubu’s Chief of Staff, Femi Gbajabiamila, urged Atiku and Obi, to accept the Supreme Court’s judgment and come together for a better Nigeria.

Addressing journalists shortly after the judgement within the courtroom in Abuja on Thursday, the former Speaker of the House of Representatives described the litigation as a distraction, but assured that  Tinubu will continue to extend hands fellowship to Atiku, Obi and other Nigerians.

“The litigation is a distraction. The litigants exercise their rights to go to court. But that has come to an end now. We now have to all come together as one country or one people and move ahead to take this country where it rightfully should be,” he said.

Describing the apex court’s judgement as very sound by any standard, he added, “We shouldn’t take things personally. If you listened carefully to the judgment, the judgment was very sound by any objective and supported with facts, with cases.

 ”The president is a democrat, he has always extended his hands of fellowship. He’s always done that he will continue to do that, and will continue to do so on his behalf. Governance is about everybody. It’s not about a party. It’s not about an individual. If we do not come together now. then we’ll have ourselves to blame.

“The elections are over. Litigation is over. All litigation has come to an end. Now’s the time for governments; distractions are over. So yes, Mr. President, the APC and all right-thinking members of society must come together no matter what party you belong to, to address the issue of governance.”

Socio-political group, the Arewa Youth Federation, (AYF), lauded the judiciary over the Supreme Court verdict, calling on Nigerians to unite with the President to ensure rapid development of the country.

The group, through its President, Adamu Kabir Matazu, said, “The Supreme court has spoken well, it is now time for action. All Nigerians should unite with the President to ensure the rapid development of the country.

“We also urged the oppositions to sheath their swords and join hands with Tinubu to move the country forward.

“The decision of the Supreme Court has affirmed the desire and aspirations of Nigerians and it is a welcomed decision.” 

…Judgement a mockery — HURIWA, advises Atiku to quit politics, allow youngsters like Peter Obi

Meanwhile, speaking against the verdict, Civil rights advocacy group, Human Rights Writers Association of Nigeria (HURIWA)  described the dismissal of the petitions filed by Atiku and Obi  as a mockery of the justice system of Nigeria.

HURIWA in a statement by its National Coordinator, Comrade Emmanuel Onwubiko, described the judgement as a mockery of justice and warned that it may encourage violence in the future.

“The Supreme Court of Nigeria did not perform the unthinkable, neither did the conservative and traditionalist justices of the apex court perform any miracle by upstaging or invalidating the election of the incumbent President and Commander-in-Chief of the armed forces of the Federal Republic of Nigeria because it did what most critics and civil rights leaders already predicted in its ruling when it controversially and incredibly held that the appeal filed by the presidential candidate of the People’s Democratic Party (PDP), Atiku Abubakar, lacked merit.

“The court known for always upholding elections of all the civilian presidents whose elections have been contested before them since 1979, also dismissed Mr Peter Obi’s petition from the Labour Party just as the Supreme Court by refusing to admit fresh evidence from Atiku Abubakar that shows clearly that President Tinubu as the Presidential candidate of All Progressives Congress, had presented a dud and fake certificate of Chicago State University which the US-based educational faculty denied knowing about it before a US Court, has conveyed the wrong message that institutionally, forging academic certificates doesn’t matter to the court system in Nigeria.

“The Atiku Abubakar’s team that appeared in that US Court were also given evidence to show that the secondary school that Tinubu claimed to have graduated in 1970 in Lagos state was only established in 1974.

“This Supreme Court’s twin distorted and crime-ridden judgment is a final testament to the fact that it is of no moment or consequences if candidates for election present fake certificates provided they can muster the capacity to manipulate the electoral process and get into the office before the determination of any litigation challenging their crooked electoral victory or have enough dollar denominated cash to bribe judges.

“Human Rights Writers Association Of Nigeria (HURIWA), had earlier predicted that the Supreme Court of Nigeria is too ethically challenged and morally unprincipled to rule on points of law but will rely on technicalities to maintain the status quo. 

“The Supreme Court has cemented the unfortunate collapse of a free, fair transparent electoral system. Nigerians must come together, and decide to rescue our government and country from the corrupt ruling class and the morally corrosive judiciary in Nigeria.

“The judgment is farcical and a mockery of justice but at the same time political contests henceforth especially at the level of Presidential Election, will become violent and a ‘Survival By the Fittest’ just as ‘Might is Right’ has been validated by these wrong-headed judgments of the Supreme Court which invariably, has told the world that the next presidential poll will be a do or die affair because hoping on obtaining Justice in the hijacked, compromised and corrupt supreme court is a sheer waste of time, human resources and finance,” HURIWA said.

The  group advised the PDP candidate, Atiku Abubakar to quit politics and pursue statesmanship to  give chance for younger players as Obi.

“We advise Atiku Abubakar to quit politics and become a statesman and allow youngsters like Peter Obi and few other good people to refocus and re-energise opposition party to wrestle power if the laws are made to remove the powers of appointment of INEC Chairman and electoral officials by the President. HURIWA expects Atiku Abubakar to be a statesman and campaign for proper electoral reforms so political cases are decided before any level of government is sworn in after the election,” it 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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