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Politics / Re: Tompolo To Face Fresh Charges - EFCC by fajoren: 12:55pm On Jan 21, 2016
The only people he wants to NEGOTIATE with and who he searches for CREDIBLE LEADER is for Boko Haram. The CREDIBLE LEADER of IPOB, Nnamdi Kanu and the CREDIBLE LEADER of NIGER DELTA, Tompolo, deserve to be killed or be in jail. The CREDIBLE LEADER of BOKO HARAM however is to be found and bargained with.
God dey." [/quote]

When Jonathan identified to Polo as leader, he squandered the billions on private jets, mansions and speedboats. I am from the Niger delta and he is not my leader but a common criminal. He has been a big disappointment considering what we sacrifices we made for him

1 Like

Politics / Re: Drama As Buhari Faults Auditor-general On Lake Chad Report-vanguard by fajoren: 6:58am On Oct 13, 2015
Adminisher:
[b][/b]

A president who remembers details of a study done during Obasanjo regime. That is a President that is switched on.
Only Awo, Obj and Yaradua have ever displayed that detailed knowledge and concentration on what happens in government. Abacha and Shagari would have fallen asleep during the briefing. Gowon would have asked too many questionsc directed at the super permanent Secretaries.Murtala Muhammed would have told the man to hurry up with his recommendation he wants to take his decision there and then.
Lol, you forget Jonathan already? Probably give N10 billion contract to tompolo to protect the lake during the meeting. And why not another N5billion for kitchen stoves to all the lake Chad women.
Politics / Re: Boko Haram Fuel Dump Discovered In Maiduguri (Photos) by fajoren: 6:40pm On Oct 01, 2015
ceo247frolic:
[img]http://2.bp./-Afw6yLBoK28/Vg0gCZCfvmI/AAAAAAAG0S8/VKxuyBIu_Vs/s400/0.jpg[/img]
Press statement from the Nigerian Army

Troops yesterday afternoon following a tip off by well meaning citizens, discovered and raided yet another Boko Haram fuel dump at Abbaganaram in Maiduguri city, Borno State. During the operation, one person, Musa Abba, was arrested and the following items were discovered and confiscated; 11 drums of AGO, 1 empty drum, 192 of 25 litres jerrycans, (out of which 70 were loaded with AGO, PMS and DPK), a Toyota bus and 1 Peugeot car. Others include a motorcycle and an air conditioner.
[img]http://2.bp./-UDmA-sawr6I/Vg0gBF5z3II/AAAAAAAG0S0/CVi3RBtCJM0/s400/1.jpg[/img]
The fuel depot was used to stockpile Petroleum, Oil and Lubricants by Boko Haram terrorists and their equally heartless collaborators for onward movement to the terrorists camps in Sambisa forest. Over time we have been exhorting the public especially the residence of the north eastern part of the country which has been mostly affected by the acts of the Boko Haram terrorists to cooperate fully with the military and the security agencies.

It is gratifying to note that such call is being heeded to by overwhelming majority of people as exemplified by the courageous and patriotic efforts of the good citizens that exposed this fuel dump in their midst. It is important that people should see the fight against the security menace of Boko Haram terrorism as collective responsibility.

Therefore the public are kindly requested to be more vigilant and assist with useful information that would assist in preventing Boko Haram terrorists from carrying out their nefarious acts against the society. Thank you for your kind cooperation.

Colonel Sani Kukasheka Usman Acting Director Army Public Relations
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http://www.metronaija.com/2015/10/photos-another-boko-haram-fuel-dump.html

All these chelsea supporters na racist, agbero, danfo drivers, okada and now No. 1 boko haram financiers . Abrahamovich sent the supplies the diesel from russia through obi to this guy.
Health / Need 200kgs Of Moringa Seeds Immediately by fajoren: 3:43pm On Sep 14, 2015
I need 200kgs of moringa seeds immediately.
Export quality.. I am based in lagos
Leave message with proof of your product. Photos preferably will get more attention

Urgent
Nairaland / General / Re: Moringa Seeds Interested Buyers by fajoren: 3:26pm On Sep 14, 2015
bamimark:
Are you in high need for moringa seed, you want export or use the product for personal use in any form or quantity please feel free to call 08038946708, or whatsapp 08058906708, please for only interested buyers only. 1st come 1st serve.
You are not on whatsapp
Religion / We Are Renovating Mosques. Send Us Pictures Of Your Mosques by fajoren: 5:57pm On Aug 15, 2015
Asalaamu Alaikom
We are developing an idea to renovate mosques around the country.
Send us pictures of your mosques and areas that need renovatin

Send photos to kashetima@gmail.com with details of mosques. We will contact you immediately
Islam for Muslims / We Want To Renovate Your Mosques. Please Share Photos on your phones by fajoren: 1:56pm On Aug 15, 2015
Asalaamu alaikom
We are a philantropic group of professionals developing an idea of renovating mosques. Please share photos of your mosques and areas of your mosques that need renovating.

Send your photos to kashetima@gmail.com and we will contact you immediately contact you Insha Allah

2 Likes 1 Share

Religion / We Want To Renovate Your Mosques. Share Photos by fajoren: 1:43pm On Aug 15, 2015
Asalaamu alaikom
We are a philantropic group of professionals developing an idea of renovating mosques. Please share photos of our mosques and also areas of your mosques that need renovating. We will contact you Insha Allah.
Investment / Investment Due Diligence by fajoren: 7:32am On Aug 03, 2015
Regulating Due Diligence by Dr Isaac Ogbodu, Head of Due Diligence and Special Research with Greystone law and risk.
The examples we will look at indicate at least four
main regulatory approaches through which States
can ensure human rights due diligence activities
by business. Usually these approaches co-exist
within the same jurisdictions and legal systems.
The first approach imposes a due diligence
requirement as a matter of regulatory compliance.
States implement rules that require business
enterprises to conduct due diligence, either as a
direct legal obligation formulated in a rule, or
indirectly by offering companies the opportunity to
use due diligence as a defense against charges of
criminal, civil or administrative violations. For
example, the courts use business due diligence to
assess business compliance with environmental
laws (US, CEPA), labor (China overseas workers),
consumer protection (Germany) and anti-
corruption laws (US FCAP / UK BA). Similarly,
regulatory agencies regularly require business due
diligence as the basis upon which to grant
approvals and licenses for business activities (EIA
in India and Ghana; Germany/construction). Anti-
money laundering laws are increasingly global
(e.g. OECD, China) their KYC or CDD provisions are
forms of due diligence.
The second regulatory approach provides
incentives and benefits to companies in return for
their being able to demonstrate due diligence
practice. For example, (Japan / Korea / Taiwan
Green Procurement / US Federal Procurement re
child labour; US Davis-Bacon re social dumping /
wages in construction and fed contracts; Norway
Pension Fund Global ethical screening) in order for
business enterprises to qualify for export credit,
labeling schemes or other forms of State support,
States often require due diligence on environmental
and social risks (the Dutch “Trade and Industry
Tool” for ODA requires a company to submit a risk
assessment of impacts; US Trade preferences
Hope Act in Haiti)
A third approach is for States to encourage due
diligence through transparency and disclosure
mechanisms. States implement rules that require
business enterprises to disclose due diligence with
the intention that markets and society will attempt
to constrain any identified harms. For example,
(Aarhus Convention in EU re environmental info to
stakeholders), securities laws in most countries,
consumer protection laws (France, Argentina,
Germany, EU) and reporting requirements for
corporate social responsibility (Denmark, Norway,
Spain, Malaysia) operate on the logic that
information serves the interests and will prompt
action by investors, regulators, and people who
might be adversely affected by a business activity.
(US California web site disclosure re DD for human
trafficking, for co. over 100 mill).
A fourth category involves a combination of one or
more of these approaches. States regularly
combine aspects of these approaches in order to
construct an incentive structure that promotes
respect by business for the standards set down in
the rules and ensures that compliance can be
assessed in an efficient and effective manner. For
example, administrative rules governing
environmental protection, labor rights, consumer
protection or anti-corruption may require business
due diligence as the bases for a license or
approval, and may also require regular reporting
disclosure of due diligence activities by business.
Enforcement of such rules can combine a
combination of administrative penalty (fines),
criminal law sanctions and the possibility of civil
action, in which due diligence can be a defense.
In general, what these approaches show is that it
is entirely possible for States to use their roles as
regulators, purchasers, financiers, investors, and
owners, to ensure the incentives for business are
based on ensuring a business respect’s human
rights, including through the use of due diligence.

I would like to say a word about what we found
with respect to jurisdiction the reach of due
diligence and its significance for jurisdiction:
As you all know, contemporary business activity is
integrated across national and organizational
boundaries. Companies operate through networks
of suppliers, sub-contractors, franchisees, and
distributors, often located in different States. The
corporate group usually includes a number of
separate legal entities, over which the parent
company, which owns part or all of the stock,
exercises variable degrees of control. These
various entities may be incorporated or operate in
different jurisdictions. As a result, most products
and services available today may be said to be the
result of collaboration between a number of
business entities, entertaining contractual or
investment links, and often escaping the
jurisdiction of any single State.
The problem is that respect for legal standards,
such as environmental protection, or labor rights,
may be undermined by the creative use of
business relationships, the various forms of
business entities and the organization or structure
of corporate groups.
Our analysis suggests due diligence is used by
these different legal regimes to overcome the
obstacles to effective regulation posed by complex
corporate structures or trans-jurisdictional
activities. Over time, the legal regimes governing
due diligence activities have adapted their reach to
the activities and relationships created by this
integration of business enterprises.
In national legal systems, the responsibility of
business enterprises to conduct due diligence does
not end at the legal boundary of the individual
company. Due diligence extends throughout the
corporate group and in some cases to all business
relationships globally. This is true in the national
and international laws governing of anti-corruption
(UK), workplace safety (China), conflict minerals
(US), anti-discrimination against people with
disabilities (US) and with respect to civil actions
(and the EU Brussels I Regulation e.g. NL/Shell
Nigeria both of which deploy due diligence in this
regard).
The intent of such provisions is to prevent
business enterprises from escaping responsibility
by outsourcing risky activities to others through
their business relationships. These laws approach
responsibility in a way that recognizes the formal
limits of the legal entity but does not allow the
choice of organizational forms to create obstacles
to addressing the potential harms or violations
arising from the business activities of that entity.
The purpose of the due diligence concept is to
require a business to identify, prevent or mitigate,
and account for, a harm or violation. By doing so
across a firm’s business relationships globally, the
scope of due diligence is designed to overcome
other legal boundaries, such as the reality of
separate legal entities, or separate jurisdictions. Its
scope is, therefore, often determined first and
foremost by the nature of the harm to be avoided.
With that I would like to conclude by adding that
our report made a series of recommendations
about practical steps legislators could take to both
encourage and require due diligence by
businesses. These ranged from the use of due
diligence in licensing, procurement and export
credit activities, in transparency and reporting
requirements and all the way over to the place of
due diligence as a defense for companies facing
civil or criminal actions.
We heard earlier today that the problem with
ensuring that business acts responsibly is that
“everything is voluntary”. Based on my
participation in the Expert Group I am convinced
that era is coming to a close. It is now time for
lawmakers to give at least as much regulatory
attention to protecting human rights from abuse by
businesses as they do the protecting against other
public goods threatened by business activity. The
question for policy makers is no longer whether to
regulate, but how to regulate – both fairly and
effectively – to protect human rights.
Business / Shell Nigeria Continues Divesting by fajoren: 7:05am On Aug 03, 2015
Royal Dutch Shell is to start the sale of $2 billion oil and gas assets in the Niger Delta in 2014 after weak refining margins and crude oil theft in Nigeria forced the profits of Europe’s largest oil company to tumble. The $2 billion Niger Delta assets, according to JP Morgan, is part of the $30 billion (£18bn) assets the company would sell off next year after weak refining margins and oil theft in Nigeria caused a sharp fall in profits The UK-based Telegraph quoted Nigerian economic analyst Dr. Isaac Ogbodu as saying that the oil giant would sell up to $30 billion (£18bn) of assets next year. They include oil assets in the Niger Delta worth $2 billion; a $7 billion stake in Woodside Petroleum, Australia’s second largest oil and gas producer; and other assets totalling $20 billion. The $30 billion disposal plan could be unveiled as early as January 2014, and would be the largest in the Anglo-Dutch oil group’s history. According to Fred Lucas of JP Morgan Cazenove, Shell’s guidance for capital spending implies at least $15 billion in asset sales during the next two years. “Yet without too much thought to portfolio stress, we can isolate almost double that figure of potentially non-core assets in Shell’s global portfolio,” he added. Retiring Shell’s Chief Executive Officer, Mr. Peter Voser, said: “We are entering into a divestment phase like we had a few years ago.” Voser, who steps down at the end of the year to be replaced by Ben van Beurden, said asset sales would allow Shell’s net capital investment, spending on projects adjusted for acquisitions and disposals, to fall from this year’s record $45 billion. “We are entering into a divestment phase like we had a few years ago. The net capital spending is considerably going to come down in 2014. We know exactly what we are going to do. Ben will introduce to the market new targets,” Voser had said at his company’s headquarters in The Hague. Shell’s Chief Financial Officer, Mr. Simon Henry, said Shell would be investing in projects from Brazil to China and plans to sell production assets in Nigeria, the United States, and possibly some other regions, along with interests in refineries and retail. Voser, 55, a Swiss national and an economist by training, is retiring 31 years after first joining Shell. Since his appointment in 2009, he has overseen the completion of some of Shell’s largest projects.
Business / US Consul-general Visits Procter And Gamble Facilities by fajoren: 8:47pm On Aug 02, 2015
The United States Consul General to Nigeria, Jeffrey Hawkins, has said that Procter & Gamble (P&G) Nigeria Limited is leading the race for increased American investment in the Nigerian economy. Hawkins stated this while visiting the brand new state-of-the-art manufacturing plant of the company in Agbara Industrial Estate in Ado- Odo, Ota, Ogun State recently. Consul-General Hawkins who expressed satisfaction with the quality and standards of the manufacturing facility disclosed that the United States of America is in Nigeria, not only as one of world’s fastest growing economy and Africa’s biggest economy, “it is very clear that the United States is very much interested in Nigeria and the Nigerian market and economy as an investment destination. That’s why our government has been actively involved in driving more American investment in Nigeria. We continue to encourage American companies to explore investment opportunities in Nigeria and motivate existing American companies to increase their investments in the country. “Procter & Gamble Nigeria Limited is one American company that has consistently display confidence in the Nigerian economy and investment climate and has been at the forefront of increased American investments in Nigeria. It is also quite clear that American businesses, particularly Procter & Gamble in this case, is quite interested in the Nigerian market. As you can see, with this plant, Procter & Gamble has made Nigeria the hub of its business in this region,” he said. With about 6 million Nigerian babies been raised, Hawkins expressed that Nigerian babies start their lives on a comfortable note because they are weaned and raised on Procter & Gamble (P&G) products particularly the company’s range of quality diapers and other global renowned baby care products. According to Consular-General Hawkins, the importance of diapers cannot be overemphasized while raising babies. “I am a father myself, I know what it means to raise babies, so I know the importance of diapers and other baby care products” he said adding that “Procter & Gamble in particular very much understood the importance of establishing relationship with the customer early in life. Anyway, for a company with wide products range like Procter & Gamble, they understood that they need a relationship that will go a whole lifetime with the customer. And Procter & Gamble also understands that if you provide quality products at quality prices, you can keep that customer throughout his/her lifetime. It means that almost every Nigerian baby is already Procter & Gamble customers,” he said. The US envoy also hinted that his visit is in furtherance of the objectives of the recent visit to Nigeria by Secretary of Commerce of United States, Ms. Penny Pritzker adding that his country’s government has initiative policies and programmes targeted as encouraging and driving investments by US companies in the Nigerian economy. Hawkins who was accompanied on the visit by top US Embassy officials including the US Consulate Economic Officer, James Plasman and the event coordinator, US-Nigeria Economic Specialist, Dr Isaac Ogbodu hailed the leading fast moving consumer packaged goods (FMCG) giant (P&G) Nigeria Limited for sitting its multibillion naira new manufacturing plant in Nigeria, thereby making the country the hub of its manufacturing operations in the West Africa with capacity to service the entire sub-Saharan Africa growing markets. Hawkins said he is satisfied with the growing interest of US businesses in the Nigerian investment climate adding that P&G has boosted the confidence of American investors in the Nigerian economy. He said the company is strategically leading the industrial revolution that Nigeria so much desires adding that it is also a confirmation of the renewed American interests in the Nigerian investment climate. On hand to receive the US envoy were top management of P&G Nigeria led by the company’s Managing Director, George Nassar, Plant HR Manager, Akinkunle Akinpelu, SSA, GR Director, Temitope Iluyemi, Communications Director, Khulu Mabaso,. PS GR/SEC Manager, Olanlege Abdulfattah, Corp Communications Manager, Tomiwa Akande and Nigeria GR Manager Ikechukwu Ofuani. Responding, P&G’s Managing Director, George Nassar thanked the envoy for the visit, adding that P&G Nigeria will continue to keep faith with its promise to be a trend-setter in its strive to improve Nigerians lives across the strata of the populace. He disclosed that the new multibillion naira manufacturing plant of P&G has not only created over 5,000 direct and indirect jobs for Nigerians, “the rippling effects of doors of opportunities that it has opened to Nigerian business and economy can only be imagined.” Nassar who said P&G is proud to showcase the company’s newly commissioned state-of-the-art manufacturing facility to the US Government added that he hope the visit of the US envoy to the facility will further spur the US Government to play its interventionist role of relating with Nigerian governments to provide enabling infrastructural environment for American businesses to flourish in Nigeria.
Investment / Mnes Must List With The Nigerian Stock Exchange by fajoren: 7:22pm On Aug 02, 2015
The House of Representatives has disclosed that it will consider debating legislation to mandate multinationals in the oil and gas, and telecommunications sectors to list certain percentage of their value on the Nigerian Stock Exchange (NSE). The Speaker of the House of Representatives, Hon. Yakubu Dogara, speaking when he received members of the Nigeria-United Kingdom Capital Market Project on a courtesy visit in Abuja yesterday, said such legislation would help deepen the market. He lamented that multinational firms have refused to list on the NSE, noting that there is no justification for the refusal. “Apart from capital inflow being sought, the market needs to be deepened, as most of the big international companies in Nigeria are not participating in the Nigerian Stock exchange. This is sad because these companies account for a huge percentage of revenues in oil, communication and energy etc.,” Dogara also gave the assurance that the lower chamber would provide legislation into areas of value added partnership directed at wealth increase, wealth redistribution, employment generation and economic diversification. Speaking earlier, President Nigeria Stock Exchange, Mr. Aigboje Imoukhuede, said the aim of the Nigeria- UK Capital Market Project is to ensure the increase in capital flow between the capital markets for mutual development. Senior consultant on the project Dr. Isaac Ogbodu, said Nigeria is one of the most exciting markets to work with, with a study currently being done to improve market structure. In another development, members of the House of Representatives have called on President Muhammadu Buhari to declare an emergency in the labour sub-sector of the economy in view of the high rate of unemployment in the country, particularly among young Nigerians. The resolution was reached during plenary on yesterday, after a motion was moved by Hon. Kingsley Chinda (Rivers PDP) who also sought the convening of a national summit on unemployment. The resolution did not elicit much debate as members agreed it was a matter of urgent public importance. Chinda also prayed that the lower chamber direct the Committee on Labour and Productivity (when constituted) to request for and review the federal government’s blueprint on generation of 3,000,000 jobs per annum, analyse same and report back to it within four weeks for further legislative action, recalling that several young people lost their lives in a stampede where they had gathered to write tests for recruitment into the immigration service. Chinda noted that unemployment is a time bomb whose results can be disastrous for the nation if not death with. “If urgent steps and pragmatic steps are not taken to address this problem, the country would be at risk at a high risk of unrest and vices which could, in the long term lead to a breakdown of the social and economic order in the country to the detriment of livelihood pattern,” he said. The motion was unanimously passed following a voice vote. The House members also urged debtors to settle the N4 billion owed to the West Africa Examinations Council by the 19 states of the federation, after the examination body threatened to withhold the results of about 600,000 students whose state governments promised to settle their examination bills. Hon. Linus Okorie (Ebonyi PDP) raising the motion under matters of urgent public importance, recalled that the examination body had said its operations are being affected by the debt which was incurred by the states.
Politics / SCANDALOUS!!!! Must Read If You Care About Nigeria by fajoren: 9:12am On Jul 28, 2015
Excerpt from a piece by Remi Oyeyemi for Sahara reporters.
With the pressure from the Western powers, especially the United States of America, it is one’s hope that President Buhari would be able to develop the necessary backbone to go through with this. This is a task that calls for courage and fearlessness on his part. This is a case that would make and confirm his reputation as a genuine anti-corruption crusader, who truly wants to save Nigeria from the fangs of corruption. Or it may turn out to be the case that would demystify him and expose him as a lily-livered paper tiger. But first, let us quickly peruse the list of the alleged bribe takers. Please note that this list is not necessarily complete of all that are involved at other levels, but the names here are the one that have been holding Nigeria captive through corruption: 1. General Olusegun Obasanjo, Ex - Military Head of State and ex- Civilian President of Nigeria. 2. General Ibrahim Badamosi Babangida, Ex Military President of Nigeria. 3. General Sani Abacha, Ex- Military Head of State of Nigeria. 4. General Abdusalaam Abubakar, Ex - Military Head of State of Nigeria. 5. Alhaji Abubakar Atiku, former Vice President of Nigeria. 6. Alhaji M.D. Yusuf, former Inspector General of Police. 7. Air Vice Marshal Abdullahi Dominic Bello, ex Chief of Air Staff, Nigeria Air Force, and former MD of the defunct Nigeria Airways. 8. Chief Donald (Don) Etiebet, a former Petroleum Minister of Nigeria 9. Chief Dan Etete, a former Petroleum Minister of Nigeria (The man with The Malabu Scandal Connection) 10. Dr. Jackson Gaius Obaseki, former Group Managing Director of the NNPC 11. Mr. Funso Kupolokun, former Group Managing Director of NNPC 12. Ibrahim Aliyu, a former permanent secretary. 13. Abdulkadir Abacha, son of former Military Head of State, Sani Abacha 14. Bodunde Adeyanju, a former Personal Assistant to President Olusegun Obasanjo 15. Ibrahim Aliyu of Urban Shelter and Intercellular among others. The above names are those implicated in the Halliburton bribery scandal. Of the names on the list only the former Vice President, Alhaji Abubakar Atiku (awaiting trial in Washington DC for money laundering ) and Dan Etete (who has already been convicted in France for money laudering) have dramatic international dimensions to their involvement in this ugly mess, despite the scandal itself being international in nature from the get go. The names on this list are the traitors of the Nigerian State and betrayers of the Nigerian people. They are the ones to whom the destiny and fortunes of Nigeria were entrusted but who shamelessly and without conscience, mortgaged it for a reeking pot of poisonous porridge. They are the profiteers from the pangs of Nigerian people. They are the Iscariots of the Nigerian State who sold their people, their future and their happiness for “thirty pieces of silver.” There have been so many scandals in Nigeria - the Festus Okotie – Eboh Scandal (the first and the last time when the cheque of what would have been Nigeria’s first international loan flew out of the aircraft window); the Scania Scandal; the Leyland Scandal; the Umaru Dikko Rice Scandal; The Import Licence Scandal; Bamangar Tukur’s Nitel Scandal; the Shehu Malami et al Union Bank Scandal (when the bank vault was opened at 2.00am to take out hundreds of millions in cash); Anosike Brothers’ Privatisation Scandal at the Daily Times; the $2.8 billion saga among others. In recent times we have had the Sanusi Lamido’s 640 billion Central Bank of Nigeria Scandal; the Maina Pension Scandal; Kerosine Subsidy Scandal; Police Pension Fund Fraud; Aminu Tambuwal and Dimeji Bankole 10 billion NASS Fraud Orgy; Stella Oduah’s Scandal; Senators Sola Saraki/Bukola Saraki’s Societe Generale Bank Scandal; Senator Bukola Saraki’s Trade Bank Scandal; The Missing NNPC 20 Billion Naira Scandal; Erastus Akingbola Intercontinental Bank Scandal; Abba Morro Immigration Scandal; Malabu Oil Scandal, Farouk Lawan $620,000 Bribery Scandal, again, among many others. Of all these scandals, none has been as damaging, denigrating, detrimental and destructive to the image, dignity and integrity of Nigeria as a corporate entity than the Halliburton bribery scandal. The Halliburton scandal did not only damage the corporate image of Nigeria as an entity, it deflated the pride of ordinary, honest, hardworking Nigerians across the planet with the kind of opprobrium that was brought to bear on them. As someone who has travelled the capitals of European countries, I know what kind of indignity, humiliation and slight that one has got to bear as a Nigerian. It is difficult to put in worlds the kind of discomfort that Nigerians have had to be subjected to. Though, the 419ers, drug barons and couriers also have their own contribution to the sordid image of the country, but none compared to the negative coverage and mention that the Halliburton scandal generated across the world. Now that President Mohammadu Buhari has asked the relevant agencies to dust up the files of and on this scandal, it gives some pulsation to the majority of Nigerians who voted for CHANGE during the election of 2015. It does not matter whether he was edged on by the United States of America or he was the one taking the initiative, the bottom line is that Nigerians who voted for CHANGE also want JUSTICE as its compulsory concomitants. The way and manner President Buhari handles this matter would determine whether the days of corruption in Nigeria is truly numbered or Nigeria would be condemned to eternal damnation of corruption and disgrace. This case calls for uncommon courage on the part of President Buhari and all those who might be handling the files and the processes of attaining JUSTICE for Nigeria and Nigerians. This case would give validity to the much vaunted and celebrated courage of President Buhari. It would either cement his image as a true man of integrity or expose him as a pretender. This case would either make him the true father of a new Nigeria or a collaborator in the moral paralysis that would eventually destroy this country. This case already, has announced President Buhari’s date with history. This case provides a golden opportunity for him to write his name in gold for posterity, not just among Nigerians but also internationally. This case is the kind that tries a man’s soul. This is because, he would have to put some of his close friends on trial and prosecute them, hopefully sincerely. President Buhari’s close friend, General Sani Abacha is dead. But he could still be tried post-humously and his son, if found guilty, sent to jail. Though, President Buhari once publicly defended General Abacha that he did not steal any money, it is my hope that he would be able to be fair and equitable in this process. Then there is President Buhari’s former boss and mentor, General and former President Olusegun Obasanjo - Onyejekwe who is on the list too. The self proclaimed “Evil Genius”, the man who planned the coup that ousted President Buhari himself, General Ibrahim Babangida is also on the list. The self effacing but obnoxiously corrupt General Abdusalaam is on the list too. President Buhari’s current closest buddy, whose protégé, Shehu Garuba, is the president’s spokesperson and Senior Adviser on Media and Publicity, former Vice President Abubakar Atiku is on the list too. Would President Buhari have the courage to try all these his friends who are alleged criminals in this scandal? These names belong to the most corrupt elements in the Nigerian History. They are those who consciously and deliberately messed up this country; who unashamedly destroyed the character of this country; who heartlessly humiliated this country in the comity of nations; who deliberately disgraced the citizens of this country across the world; yes, they are those who are were given the honour of serving their country and their people but consciously chose the dishonor of greed and avarice. Would President Buhari be able to muster the courage to bring them to justice or take justice to them as the case may be? If President Buhari is able to bring all involved in this scandal to justice, through fair trial, jail the guilt and retrieve our money from them, I promise to have his picture in the most decent corner of my room, and light it constantly with twelve candles strategically placed around it on a permanent basis. I promise to pray in front of this Buhari’s picture with my head bowed at least once a day until the day I exit this world. I am willing to give him this honour, if he is able to deliver. “In the long history of the world, only a few generations have been granted the role of defending freedom in its hour of maximum danger. I do not shrink from this responsibility – I welcome it.” - John F. Kennedy, in his Inaugural Address January 20, 1961 Please follow me on Twitter @OyeyemiRemi Sahara reporters 26/07/2015
Politics / Nasir El Rufai. Kaduna. How About Your Governor? by fajoren: 12:20pm On Jun 28, 2015
I welcome you all with humility and
gratitude to the very first Town Hall
meeting we are hosting as a government.
It is not yet one month since we were
sworn-in, but to the extent that it has
pleased Allah to bestow His grace upon
us, we have set about doing the work of
change that you mandated us to do.
During the campaign, we promised that
we shall be engaging and interacting with
the public regularly. We pledged that we
will provide you regular updates and
listen to your feedback, including
criticisms and suggestions. Here we are
before you today to do as we pledged. As
we have started, so we intend to
continue, always striving to get better at
achieving results.
Immediately after we were sworn-in on
29 May 2015, we reported for duty with
the sense of urgency that you demanded.
As we expected, we met a state that is
broke, and whose schools, hospitals and
roads are in poor shape. We knew that a
lot of sacrifice will be required to restore
the state to good health. This
government’s priority is actually growth
and development in a safe and secure
environment; because we understand
that the things that matter are the public
goods of quality schools, decent hospitals
and good roads; we know that leaders
must pursue the creation of a climate
that promotes security, social harmony
and is therefore conducive to bringing
jobs and economic opportunity. Thus our
first step was to announce that the
deputy-governor and I will be taking a
50% pay cut.
As we took briefings from the ministries,
departments and agencies in our very
first week, the depth of the financial
problem became clearer to us as well as
the impact the decades of impunity have
had on the mental attitudes of the
institutions that constitute the public
service. As one astute observer of the
situation commented recently, the public
service does not serve the public; rather
it considers itself as the public and thus
serves only itself.
We emphatically reject this mentality.
The new government of Kaduna State has
therefore declared that the resources of
the state will be devoted to serving the
public, with schools, hospitals and roads;
aiding our farmers and doing our utmost
to create jobs. To do that, we must cut
the cost of running government. Ours
will no longer be the state that has too
little left for the needs of the majority of
the people.
That is our guiding principle as we
reduce costs. And we have taken concrete
action in this regard. We have
restructured our ministries from 19 to 13.
We have also decided that we will have
only 13 commissioners, ten special
advisers and 12 special assistants. You all
remember that the previous government
had 24 commissioners, 41 special advisers
and about 400 special assistants. But good
governance is not about recruiting vast
numbers of political appointees. It is
about the smallest number that can
provide the quality of service that is
required.
We are saddened by the condition in
which we found the state. But we shall
never use that as an excuse for non-
performance. It is our duty to do our best
always. That is why we are finding
creative even if difficult ways to deliver
on our promises.
What we have done
In our first month, we have done the
following things:
Governance Reforms
Prioritising the People: We have made
clear our intention to devote a larger
chunk of the state’s resources to
providing public services. We have
signalled that a government elected by
majority vote should serve the majority.
Pay cut: the governor and the deputy
governor have taken a voluntary pay cut
of 50%, and we have urged other political
official holders, elected or appointed, to
follow this example.
Cost-cutting: ministries have been
reduced from 19 to 13; while your
government has committed to appointing
only 13 commissioners and the handful of
needed special advisers and special
assistants. The selection of the
Commissioners, Advisers and Assistants
will be based on merit, capacity and
experience because what is priority to us
is getting the necessary skill sets that will
facilitate moving the State forward.
Biometric verification: Our government is
already conducting biometric verification
of its employees in order to update the
payroll and provide reliable data as to the
precise number of personnel in the
public service. Two of Nigeria’s leading
banks, UBA and Zenith, are working with
us on this project.
Tax Reform Committee: We have set up a
committee chaired by Ifueko Omogui,
former chairman of the Federal Inland
Revenue Service, to review our internal
revenue generation structures, systems
and laws. The committee will recommend
ways by which we can improve our
internally generated revenue. This will
reduce our dependency on the federal
government. We will be masters of our
own fate.
Transparency: We have signed up to
Open Budget, a tool that enables you to
track what we are doing with your
money.
Health
Your government has already convened a
summit of Kaduna State Healthcare
partners to set out the state’s priorities in
the Health Sector, and to also ensure that
all funds in the health sector are
streamlined to ensure an effective
coordinated service delivery. The donor
community and multilateral agencies
attended, along with businesses that are
active in the state’s health sector.
Kaduna State has signed an
Memorandum of Understanding with
General Electric Healthcare to modernise
our primary health centers and public
hospitals. Both parties have committed to
identifying the specific needs of the
centers and hospitals, so that modern
equipment can be installed to improve
the diagnosis and management of
patients.
We have signed the 2015 Kaduna State-
UNICEF 2015 workplan. The state
government is ready with its counterpart
funding for the agreed initiatives in
healthcare, nutrition, HIV/AIDS, water,
sanitation and child protection.
Installation of two dialysis machines and
the repair of three dialysis equipment at
Barau Dikko Hospital. Arrangements are
being made to purchase consumables for
the next 12 months so that dialysis will
be affordable to Kaduna citizens.
Security
Peace Committee: A committee, chaired
by the respected General Martin Agwai, is
working to identify the causes of conflict
and insecurity in Southern Kaduna and
thereafter recommend ways of tackling
the problem.
Interstate cooperation: Kaduna State is
working with Zamfara, Katsina, Kebbi and
Niger States to design a collective
approach to common security challenges
in the forest ranges that strides our
respective States. A meeting is being held
today with the respective State Governors
and Security Agencies to advance the
implementation of this initiative.
Presidential support: Kaduna State has
briefed and updated the president on the
security challenges, and the president has
pledged FG support for the
comprehensive security plan.
Relief: We have conducted multiple aerial
surveys of the Birnin-Gwari area and
have visited affected communities there
and in Southern Kaduna, offering medical
assistance and condolences.
Prisons: we have visited prisons in
Kaduna and Zaria, pursuing rehabilitation
of facilities and decongestion. As a result
of these efforts, 98 persons awaiting trial
for minor offenses were released by the
Chief Judge of Kaduna State.
Infrastructure
Zaria Water Project: We have ordered
accelerated work to complete this project
as a priority item for our government. We
have visited the site of the project and
reviewed it with the contractors. A firm
decision has been taken to commit funds
monthly so that the project can be
completed by early 2018.
The African Development Bank and
Islamic Development Bank, the major
funders of the project, have been
consulted and they share our desire to
speed-up completion. In addition, we are
working on a project to upgrade the
capacity to supply water to Kaduna
residents through a new Kaduna Water
Project.
Job creation
Kaduna Cabs: We have initiated a scheme
to revive taxi services in our major urban
centres. The aim is to create jobs for
owner-drivers who will help improve the
commuting experience with their
comfortable cars and excellent customer
service. The scheme is starting with 200
vehicles in Kaduna, and is being
implemented in collaboration with
Peugeot. We have already placed adverts
to invite participation in the scheme.
Indorama: Our drive to attract new
investors to the state has attracted
positive response from Indorama, a
leading player in petrochemicals. They
have selected Kaduna as their regional
distribution centre. They will be building
warehouses, fertilizer blending plant and
a training centre in Kaduna.
Shopping Mall: Our main urban centres,
including the state capital Kaduna, are
lacking modern shopping malls. We have
indicated our readiness to partner with
capable investors in this sector.
Agriculture
Fertilizer: One of our first actions in
office was to stop the unfair practice of
allocating subsidized fertilizer to
prominent persons to the detriment of
ordinary farmers. We launched the 2015
fertilizer sales season in Kachia with a
clear structure that sells fertilizers to
interested persons from designated sales
point. We shall be reviewing and
improving the process of procuring and
distributing fertilizer to make access
easier for the farmers.
A New Agricultural Policy is being
prepared with the aim of enhancing the
capacity of the sector to create viable
jobs; improve farm productivity and raise
the involvement of Kaduna citizens in the
value chain.
Sanitation
Clean city agenda: We have met the
sanitation contractors and have expressed
to them our dissatisfaction at the squalid
state of our urban areas. We want our
towns and cities to be clean, and we shall
do it.
Sports
Kaduna has, for the first time in a long
while, hosted an international football
match when the Super Eagles played a
friendly match with Chad at the Ahmadu
Bello Stadium. Our people turned out to
see the game, showing that Kaduna is a
sports city. That impressive turnout has
now placed us on the radar to host many
competitive matches because the football
authorities now know that our great
people will actually come to the stadium,
fill it up and cheer the players.
What we intend to do
In the following months, we shall be
focused on the following issues:
Education : we shall begin implementing
our comprehensive agenda to improve
education. School repairs, and the
provision of facilities like furniture,
water and toilets will begin as we fulfill
our responsibility to provide a better
learning environment. Alongside this, we
shall begin to enhance the capacity and
quality of the teachers generally, and we
shall pay extra attention to getting more
and better teachers in English, Maths and
Science.
Health : hospital upgrades, in terms of
facilities and equipment, will be
accelerated as our MoU with GE
Healthcare is steadily implemented. We
have a commitment to properly
equipping our hospitals so that most of
our people’s healthcare needs can be met
by our own public hospitals.
Township Roads: neighborhood and
township roads in our major urban
centres will be upgraded to the extent we
can within this rainy season.
Transport: our multilayer transport
architecture will be executed. That
includes preparations, studies and
projects to put in place:
– the new cab scheme and expanding to
Zaria and Kafanchan,
– a BRT system for mass transit starting
with Kaduna,
– a major project to establish Kaduna-
Zaria light rail system between Shika and
through the Kaduna Metropolis and up to
the Refinery,
– new bus and truck terminals in Kaduna,
Tafa, Mararaban Jos and Zaria
Security
Comprehensive security plan for
Southern Kaduna and the Birnin-Gwari/
Giwa axis
Forensic laboratory under the control of
our State Internal Security outfit –
Operation Yaki – to enhance the
investigative capacity of law-enforcement
agencies
Clean Cities : We would not allow our
urban centres to continue to be defaced
by waste. We shall be improving waste
collection, then we would introduce
sanitary inspectors and engage the public
in a voluntary commitment to make our
cities clean.
Rural and community development:
Under the leadership of our Deputy
Governor, we shall be mainstreaming the
Millennium Village Pampaida programme
as a viable model across our rural
communities. It will have components to
improve education, healthcare, rural
roads and the farming activities that
engage most of our rural residents.
Job Creation : your government will
undertake direct recruitment of qualified
doctors, nurses and teachers to urgently
raise the quality of service in our
hospitals and schools. We shall also
employ at least 50 youths per ward over
the next four years, in our initial efforts
for traffic control and environmental
enforcement. But try as it might,
government can only employ a minority
of youths who need jobs. Thus we remain
focused on creating a favourable climate
for the private sector to create jobs.
Textile Revival : We have the support of
Mr. President to work on policies and
schemes that will revive this sector as
viable and sustainable employer of
labour. We are cooperating with current
and potential textile investors on a
package that stimulates the value-chain
from cotton farming to garmenting.
There is so much to do, with fewer
resources. But we have no option than to
deliver quality performance for the
people who have invested so much hope
in us. We need your understanding and
support for the difficult decisions that we
must take if we are to serve you to the
best of our ability. We will need
committed people in and out of
government to contribute to achieving
the goals we have set out.
We are not shrinking government for its
own sake. We are making government
leaner so that it can work better for you.
Let us all make sacrifices for change.
Above is the Keynote address by Nasir El-
Rufai, Governor of Kaduna State, at the
first Town Hall meeting of the APC Kaduna
State Government, at the Hassan Katsina
House, Kawo, Kaduna, on Saturday, 27 June
2015
Investment / Investing In Nigeria. A Study Into Power Generation And Telecoms by fajoren: 5:50am On Jun 12, 2015
-
Alexandre Rene %>
Alexandre Rene
On April 6 of this year, Nigerian economists officially announced what the world had long suspected — namely, that Nigeria possessed not only Africa’s largest population, but also its largest economy. Nigeria’s first GDP rebasing in over 24 years prompted this announcement.
The new GDP figures, totaling $510 billion, represent an almost 89 percent increase over the prior year. Nigeria’s GDP has grown at an average rate of 7 percent each year for the past 10 years, and Nigeria’s economy is predicted to become one of the world’s 15 largest by the year 2050.

Nigeria’s Growth, Past and Future

Nigeria’s revised GDP figures reflect a growth story that has been well under way for over 20 years. However, this growth had until recently remained outside of official figures.

GDP is measured by picking a reference point, known as the base year, and calculating changes in the real (versus nominal) value of each sector of the economy for each month, quarter, or year from that baseline. In most countries, a new base year is set approximately every five years. Prior to this recent exercise, Nigeria used 1990 as its base year.
By waiting over 20 years to rebase its economy, Nigeria’s official GDP figures in recent years ignored new inventions and did not fully account for growth in new or previously less important sectors of the economy. In other words, Nigerian economists had calculated GDP with outdated assumptions about the size and importance of certain sectors of the economy, including services, film, e-commerce, banking and telecom. The telecom industry alone accounts for over a quarter of the GDP increase.

Nigeria has begun the transition from an agriculture and extraction-dominated economy into a more diversified one. A number of factors favor Nigeria’s strong growth over the next decade. It has a population of around 170 million people — almost one in five sub-Saharan Africans is Nigerian. The country is young — 44 percent of Nigeria’s population was under the age of 15 in 2012. Nigeria has the second largest amount of proven crude oil reserves in Africa, and Lagos has sub-Sahara’s second largest and most liquid stock market.

Despite its promise, the main barrier to Nigeria’s future prosperity is a continued deficit in investment and personal security. Nigeria faces terrorism concerns in the northern part of the country that have accounted for the deaths of more than 1,500 people just this year. Piracy, crime and violence have plagued other parts of the country, while port delays, uncertain land rights, and unemployment also increase the investment risk of the country.

Anti-Corruption Risk in Environment in Nigeria

Of the legal risks facing businesses wishing to invest in Nigeria, corruption is among the most significant. For businesses and investors wishing to enter or expand their exposure to the growing Nigerian economy, it is important to recognize the anti-corruption risks that are prevalent in these areas. Nigeria has historically been regarded as a country that presents heightened anti-corruption risks, and it has long received poor rankings in Transparency International’s Corruption Perceptions Index. In 2013, Nigeria was ranked 144 out of 177 countries ranked — in the bottom 20 percent. Bribery allegations involving Nigerian government officials have also been featured in several high-profile investigations by the U.S. Department of Justice and the Securities and Exchange Commission.

A quick examination of two of the growing sectors of the Nigerian economy — power generation and telecom — demonstrates some of the inherent corruption risks facing businesses.

Power Generation

The current Nigerian electric power system continues to limit the country’s potential. According to the World Bank, only 48 percent of Nigeria’s almost 170 million people had access to electric power in 2011. For those who have access to power, near daily blackouts and brownouts frustrate consumers and businesses. In order for the economy to continue to grow, this infrastructure crisis will need to be addressed.

Seeking to harness the private sector in an attempt to solve this crisis, Nigeria is in the midst of privatizing and expanding its electric power system. The Nigerian government has privatized the country’s power distribution and generation assets, and has granted a concession to a private company to run the transmission system. Numerous new power plants will need to be built over the next several years, and the transmission and distribution system will likewise need to be modernized and expanded. In order to fuel this new power generation capacity, new natural gas pipelines will need to be built to transport supplies to generation facilities.

Companies that wish to gain exposure to this enormous growth opportunity will need to factor in the anti-corruption risks presented by this situation. Interactions with entities of the Nigerian government are an inevitable aspect of an investment in this area. For example, operating an electric generation plan in Nigeria requires a license from the Nigerian Electricity Regulatory Commission. Other licenses from the NERC are needed in order to trade bulk power across the grid, and the NERC has approval power over tariffs. Close or frequent interactions with any regulator or government agency present risks that bribery will occur.

Similarly, companies should ensure that they are comfortable with any local agents or business partners they enlist. Much of the preexisting infrastructure in the power sector was sold to a wide spectrum of Nigerians and foreign corporations. Any business wishing to partner with these actors will need to carefully examine whether it is comfortable with how these potential partners secure any assets they bring to the table. Many enforcement actions initiated by the U.S. government have involved payments made by third-party agents to Nigerian government officials.

Telecom

The Nigerian telecom sector also illustrates the complicated risk/reward ratio facing companies operating in Nigeria. Nigeria’s rebased GDP figures show that the industry grew from virtually nonexistent in 1990 to comprise 8.69 percent of the country’s GDP in 2013. There are over 120 million active mobile phone subscribers in a country of 170 million people. However, given that Nigerians commonly have multiple mobile phone subscriptions on different networks due to poor service, analysts believe that there is substantial room for growth in this sector. Nigerian authorities have also launched various pilot projects to encourage the use of mobile banking and cashless transactions.

To tap this potential wellspring of growth, business investors will need to work closely with various actors in the Nigerian government. For example, wireless spectrum auctions will be a source of corruption risk in the Nigerian telecom sector. Within the next few years, Nigeria is expected to migrate its television broadcasts from analog to digital service, freeing up large and valuable portions of the wireless spectrum for potential sale.

As the country continues to make sections of its wireless spectrum available to companies, bidders will need to consider how to approach potential corruption risks in participating in any auctions. Corruption in an auction context can result from both bid rigging and from the distortion of bid evaluations and quality rankings. For example, an employee of a bidding entity may pay a regulator for inside information on how best to structure a bid. Alternatively, the entity may be tipped off that its bid is not the lowest, allowing for it to be dropped.

Petty corruption — a risk factor present in many industry sectors across the globe — is endemic in Nigeria and is likely present in its telecom sector. Local investigative journalists have recently alleged that mobile phone operators in Nigeria have provided employees of the Nigerian Communications Commission with free mobile phone service. According to these accounts, this free service has been provided in order to head off enforcement of quality of service regulations against mobile phone carriers.

Risk Mitigation Strategies for In-House Counsel to Consider

In light of the potential investment opportunities that are available in Nigeria, businesses and investors should familiarize themselves with these corruption risks and should take prudent steps to minimize potential exposure to them. According to Dr. Isaac Ogbodu of Greystone Law and risk LLC, "risk minimization starts with an appropriately rigorous due diligence plan, and is reinforced by a strong compliance program tailored for the country".

Conduct Due Diligence Commensurate With the Risk

With due diligence, a one-size-fits-all approach should be avoided. SEC, DOJ, and the U.K.’s Serious Fraud Office have all urged companies to conduct due diligence into potential partners, acquisitions, and business opportunities with a vigor that matches the potential corruption risk presented by the opportunity. A key aspect of performing diligence is to gain familiarity with Nigerian customs, terminology, and known risk areas. For example, small cash bribes or tips are called “dash” in Nigeria. Similarly, Nigeria has historically had a tout system. These unofficial intermediaries operate outside of the official bureaucratic process, and can be an omnipresent part of dealing with some agencies.

Adopt and Enforce Strong Compliance Programs Tailored for Nigerian Conditions

After contracts are signed, it is important to design and implement a strong compliance program tailored for local conditions. The compliance program should cover any third party agents retained by the company to work on its behalf. The program should include a robust training program that educates both company employees and certain third party agents. The Foreign Corrupt Practices Act and U.K. Bribery Act contain a number of concepts — such as the very broad interpretation of who constitutes a “government official” — that may need clear explanation.

—By Alexandre Rene, Patrick Welsh and Nicole Durkin, Ropes & Gray LLP

Alexandre Rene is a government enforcement partner in the Washington, D.C., office of Ropes & Gray. Patrick Welsh is a government enforcement associate in the firm's Boston office. Nicole Durkin is a litigation associate in the firm's Washington office.
Investment / Investment In Nigeria. A Study by fajoren: 5:37am On Jun 12, 2015
-

On April 6 of last year, Nigerian economists officially announced what the world had long suspected — namely, that Nigeria possessed not only Africa’s largest population, but also its largest economy. Nigeria’s first GDP rebasing in over 24 years prompted this announcement.
The new GDP figures, totaling $510 billion, represent an almost 89 percent increase over the prior year. Nigeria’s GDP has grown at an average rate of 7 percent each year for the past 10 years, and Nigeria’s economy is predicted to become one of the world’s 15 largest by the year 2050.

Nigeria’s Growth, Past and Future

Nigeria’s revised GDP figures reflect a growth story that has been well under way for over 20 years. However, this growth had until recently remained outside of official figures.

GDP is measured by picking a reference point, known as the base year, and calculating changes in the real (versus nominal) value of each sector of the economy for each month, quarter, or year from that baseline. In most countries, a new base year is set approximately every five years. Prior to this recent exercise, Nigeria used 1990 as its base year.
By waiting over 20 years to rebase its economy, Nigeria’s official GDP figures in recent years ignored new inventions and did not fully account for growth in new or previously less important sectors of the economy. In other words, Nigerian economists had calculated GDP with outdated assumptions about the size and importance of certain sectors of the economy, including services, film, e-commerce, banking and telecom. The telecom industry alone accounts for over a quarter of the GDP increase.

Nigeria has begun the transition from an agriculture and extraction-dominated economy into a more diversified one. A number of factors favor Nigeria’s strong growth over the next decade. It has a population of around 170 million people — almost one in five sub-Saharan Africans is Nigerian. The country is young — 44 percent of Nigeria’s population was under the age of 15 in 2012. Nigeria has the second largest amount of proven crude oil reserves in Africa, and Lagos has sub-Sahara’s second largest and most liquid stock market.

Despite its promise, the main barrier to Nigeria’s future prosperity is a continued deficit in investment and personal security. Nigeria faces terrorism concerns in the northern part of the country that have accounted for the deaths of more than 1,500 people just this year. Piracy, crime and violence have plagued other parts of the country, while port delays, uncertain land rights, and unemployment also increase the investment risk of the country.

Anti-Corruption Risk in Environment in Nigeria

Of the legal risks facing businesses wishing to invest in Nigeria, corruption is among the most significant. For businesses and investors wishing to enter or expand their exposure to the growing Nigerian economy, it is important to recognize the anti-corruption risks that are prevalent in these areas. Nigeria has historically been regarded as a country that presents heightened anti-corruption risks, and it has long received poor rankings in Transparency International’s Corruption Perceptions Index. In 2013, Nigeria was ranked 144 out of 177 countries ranked — in the bottom 20 percent. Bribery allegations involving Nigerian government officials have also been featured in several high-profile investigations by the U.S. Department of Justice and the Securities and Exchange Commission.

A quick examination of two of the growing sectors of the Nigerian economy — power generation and telecom — demonstrates some of the inherent corruption risks facing businesses.

Power Generation

The current Nigerian electric power system continues to limit the country’s potential. According to the World Bank, only 48 percent of Nigeria’s almost 170 million people had access to electric power in 2011. For those who have access to power, near daily blackouts and brownouts frustrate consumers and businesses. In order for the economy to continue to grow, this infrastructure crisis will need to be addressed.

Seeking to harness the private sector in an attempt to solve this crisis, Nigeria is in the midst of privatizing and expanding its electric power system. The Nigerian government has privatized the country’s power distribution and generation assets, and has granted a concession to a private company to run the transmission system. Numerous new power plants will need to be built over the next several years, and the transmission and distribution system will likewise need to be modernized and expanded. In order to fuel this new power generation capacity, new natural gas pipelines will need to be built to transport supplies to generation facilities.

Companies that wish to gain exposure to this enormous growth opportunity will need to factor in the anti-corruption risks presented by this situation. Interactions with entities of the Nigerian government are an inevitable aspect of an investment in this area. For example, operating an electric generation plan in Nigeria requires a license from the Nigerian Electricity Regulatory Commission. Other licenses from the NERC are needed in order to trade bulk power across the grid, and the NERC has approval power over tariffs. Close or frequent interactions with any regulator or government agency present risks that bribery will occur.

Similarly, companies should ensure that they are comfortable with any local agents or business partners they enlist. Much of the preexisting infrastructure in the power sector was sold to a wide spectrum of Nigerians and foreign corporations. Any business wishing to partner with these actors will need to carefully examine whether it is comfortable with how these potential partners secure any assets they bring to the table. Many enforcement actions initiated by the U.S. government have involved payments made by third-party agents to Nigerian government officials.

Telecom

The Nigerian telecom sector also illustrates the complicated risk/reward ratio facing companies operating in Nigeria. Nigeria’s rebased GDP figures show that the industry grew from virtually nonexistent in 1990 to comprise 8.69 percent of the country’s GDP in 2013. There are over 120 million active mobile phone subscribers in a country of 170 million people. However, given that Nigerians commonly have multiple mobile phone subscriptions on different networks due to poor service, analysts believe that there is substantial room for growth in this sector. Nigerian authorities have also launched various pilot projects to encourage the use of mobile banking and cashless transactions.

To tap this potential wellspring of growth, business investors will need to work closely with various actors in the Nigerian government. For example, wireless spectrum auctions will be a source of corruption risk in the Nigerian telecom sector. Within the next few years, Nigeria is expected to migrate its television broadcasts from analog to digital service, freeing up large and valuable portions of the wireless spectrum for potential sale.

As the country continues to make sections of its wireless spectrum available to companies, bidders will need to consider how to approach potential corruption risks in participating in any auctions. Corruption in an auction context can result from both bid rigging and from the distortion of bid evaluations and quality rankings. For example, an employee of a bidding entity may pay a regulator for inside information on how best to structure a bid. Alternatively, the entity may be tipped off that its bid is not the lowest, allowing for it to be dropped.

Petty corruption — a risk factor present in many industry sectors across the globe — is endemic in Nigeria and is likely present in its telecom sector. Local investigative journalists have recently alleged that mobile phone operators in Nigeria have provided employees of the Nigerian Communications Commission with free mobile phone service. According to these accounts, this free service has been provided in order to head off enforcement of quality of service regulations against mobile phone carriers.

Risk Mitigation Strategies for In-House Counsel to Consider

In light of the potential investment opportunities that are available in Nigeria, businesses and investors should familiarize themselves with these corruption risks and should take prudent steps to minimize potential exposure to them. According to Dr Isaac Ogbodu of Greysone Law and Risk LLC, "risk minimization starts with an appropriately rigorous due diligence plan, and is reinforced by a strong compliance program tailored for the country".

Conduct Due Diligence Commensurate With the Risk

With due diligence, a one-size-fits-all approach should be avoided. SEC, DOJ, and the U.K.’s Serious Fraud Office have all urged companies to conduct due diligence into potential partners, acquisitions, and business opportunities with a vigor that matches the potential corruption risk presented by the opportunity. A key aspect of performing diligence is to gain familiarity with Nigerian customs, terminology, and known risk areas. For example, small cash bribes or tips are called “dash” in Nigeria. Similarly, Nigeria has historically had a tout system. These unofficial intermediaries operate outside of the official bureaucratic process, and can be an omnipresent part of dealing with some agencies.

Adopt and Enforce Strong Compliance Programs Tailored for Nigerian Conditions

After contracts are signed, it is important to design and implement a strong compliance program tailored for local conditions. The compliance program should cover any third party agents retained by the company to work on its behalf. The program should include a robust training program that educates both company employees and certain third party agents. The Foreign Corrupt Practices Act and U.K. Bribery Act contain a number of concepts — such as the very broad interpretation of who constitutes a “government official” — that may need clear explanation.

—By Alexandre Rene, Patrick Welsh and Nicole Durkin, Ropes & Gray LLP

Alexandre Rene is a government enforcement partner in the Washington, D.C., office of Ropes & Gray. Patrick Welsh is a government enforcement associate in the firm's Boston office. Nicole Durkin is a litigation associate in the firm's Washington office.
Politics / Re: What HRM Emir Dr. Sanusi Lamido Sanusi Said About President Buhari 12 Years Ago by fajoren: 3:49pm On May 31, 2015
language is a moral medium and writing is a means of education and exhortation aimed at inviting the reader to act for his freedom and liberate first his consciousness, then his person, from the obscurantist cloak of myths, superstitions and outright fallacies invoked by those responsible for his state of alienation. This theme runs in the writings of several intellectuals, from Marx and Trotsky, to Sartre, Chomsky and Eco. Sanusi Lamido Sanusi

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