The Minister of Trade and Investment, Otunba Niyi Adebayo, has expressed support for the 2020 Corporate Sustainable Investor Report (CSIR), a research document that analyses the sustainability progress of companies in Nigeria.

The CSIR is a multi-stakeholder developed report led by CSR-in-Action, a foremost African sustainability consulting and advocacy firm. It takes into primary cognisance, the local business milieu in Nigeria and Africa at large. The first of its kind in the country, the information in the CSIR has been methodically grouped under seven key performance indices, namely: Human Rights and Decent Labour, Innovation, Ethical Economics, Stakeholder Inclusion, Environmental Sustainability and Sustainability Management.

With sustainability emerging as a core component of business strategy for efficient and dynamic corporate organisations, socio-economic and governance frameworks like the CSIR have become vital tools for driving sustainable development.

“I strongly believe that sound public policy on trade and investment in Nigeria will provide the foundation for the establishment of key economic and industrial projects that will lead to substantive transformation,” said Otunba Niyi Adebayo.

“I deeply appreciate the development of this Corporate Sustainable Investment Report which encourages sustainable and ethical business practices. I am certain that it will contribute significantly to enhancing the investment ecosystem and encouraging businesses to adopt the right practices that will empower Nigerians”, the Minister continued.

Since the launch of the first edition in 2012 at the 17th Nigerian Economic Summit (NESG) with former Director General, NESG, Frank Nweke Jr and Chairman of Heirs Holdings, Tony Elumelu OON, the Corporate Sustainable Investor Report has become a one-stop resource for all sustainability and business practitioners interested in Nigeria to assess the values and ethical economics priorities of major Nigerian businesses, view emerging trends within industries that reflect their specific sustainability concerns, get an overview of Nigerian business’s current position in the journey of sustainability and inculcate the culture of transparency through reporting.

In the wake of major human rights abuses in recent decades, there has been an increased interest in acknowledging human rights. Oftentimes, established companies are unwittingly complicit in this repression of human rights. That is why one of the six core assessment criteria of the CSIR is human rights.

“Now on its 4th edition, the CSIR continues to get bigger and better every year, addressing hitherto obscure discourses such as human rights. Besides being a tool of reference for government, regulators and investors concerned with sustainable business practices in Nigeria, the CSIR also provides a viable and equitable platform for corporate organisations in Nigeria to project themselves as sustainable corporate brands,” said Bekeme Masade-Olowola, Chief Executive of CSR-in-Action.

According to Masade-Olowola, the 2020 CSIR has been independently developed using a diverse team of stakeholders, tailored to suit the local milieu and its challenges, is totally unbiased and has deftly structured ranking criteria.
To be included in the CSIR, corporate organisations need to meet two out of the four prerequisites. These include the possession of a standard, annual and publicly available CSR/ sustainability report, listing on the Nigerian Stocks Exchange (NSE), annual revenue of N500 million, and business existence for four years.

CSR-in-Action is a conglomerate of three sustainability-driven businesses: Consulting, Training and Advocacy. Its mission is to redefine the sustainability terrain in Africa, through collaborative strategies with stakeholders aimed at attaining higher levels of corporate governance, workplace and sustainable philanthropy. The organisation has a clear vision to propel collective transformation in Africa by promoting responsibility amongst all ernes in their day-to-day individual or business activities.
Learn more about the CSIR at www.csr-in-action.org/csir.

.....Company marvels at the number of essays from Borno State, an area plagued by Boko Haram

Foremost African technology firm, SystemSpecs, has rewarded the ingenuity and patriotism of Nigerian children who have suggested various means of enhancing the country’s national security through technology amidst intensified security threats across the country.

The technology giant's laudable gesture was demonstrated at the presentation of prizes to the top three in both senior and junior categories of its 2021 Children’s Day Essay Competition, themed “Building a more Secure Nigeria using Technology”, which took place recently, at the firm’s headquarters in Lagos.

Now in its second year, the SystemSpecs Children's Day Essay Competition is organized in furtherance of the technology firm's commitment to the development of indigenous IT capacity for national prosperity.

The Managing Director of SystemSpecs, John Obaro, praised the patriotism and ingenuity of all the participants in the essay competition.
“For our dear children who have taken it upon themselves to think about the use of technology in addressing what is probably the biggest challenge of our country today, security, we say thank you.”

According to Obaro, it was great to receive diverse suggestions from children on how to solve this pressing national challenge.
“It has given us hope that we have a foundation on which we can build the future of the country,” he added.

Over 2000 entries were received from students between ages 9 and 16 from secondary schools across the country in the 2021 SystemSpecs Children's Day Essay Competition, a 30 percent increase from the previous year. The entries went sent online, via an internet portal.

Executive Director of Strategy at SystemSpecs, Deremi Atanda, said the company is thrilled about the number of entries that came from Borno State, an area at the grip of Boko Haram’s deadly insurgency.

“It shows that even at times like this, people are interested in advancing national interest,” Atanda remarked.
He also praised the resilience of the participants and their schools.
“There were some schools that had just one entry, and you could see the weight of an entire community behind that single submission.
“Some went all the way to seek internet access in remote locations from them to send their entries. That resonates well with our objective of intervention in building capacity for the IT industry in Nigeria,” Atanda said.

12-year-old Chetachi Best Mbalu of Lagooz College, Iyana Ipaja, Lagos emerged winner in the junior category, while 15-year-old Uchenna Rita Ohiaeri of Queensland Academy, Okota, Lagos emerged winner in the senior category.
Besides the prizes presented to the winners, SystemSpecs donated 15 laptops to the winning school in the senior category, and 10 laptops to the winning school in the junior category.

In his remarks, the special adviser to the president on education, Mr Obafela Bank-Olemoh, called the SystemSpecs Essay Competition, “a step in the right direction” and encouraged the company’s leadership to “keep up the good work”.

CAHR Awards 2020

Dr Ngozi Okonjo Iweala, former Minister of Finance and Director-General World Trade Organisation (WTO), won the Aminu Kano Award for Leadership. In a video broadcast from the United States, Dr Ngozi Okonji-Iweala expressed gratitude and said: “I am sorry I cannot be with you there, but I must say I am delighted.”

The Apostle Hayford Alile Humanitarian Award, in the Individual category, went to Safiya Ibn Garba, Founder of Empowering Women for Excellence Initiative (EWEI), a non-governmental organisation which provides multisectoral intervention for girls and women empowerment. “We will continue to work for the betterment of our communities and nation, and in doing so, model the values which this award represents,” an excited Ms Garba remarked.

Aisha Yesufu, a prominent figure in the EndSARS movement and Co-Founder of the Bring Back Our Girls Movement, won the Funmilayo Ransome-Kuti Human Rights Award for her relentless drive for the defence of human rights and justice in the country. ” This award makes me feel that there is so much more we need to do… I will never stop until we get a Nigeria where a child of nobody can become somebody without knowing anybody,” Yesufu said as she received her award.

Photos from 2020 CAHR Awards

1. Award plaque

2. Chairman, organizing committee, Meka Olowola

3. Brother of WTO Director-General, Mrs Ngozi Okonjo-Iweala, who received the award on her behalf

4. LR: Host and Chief Executive, CSR-in-Action, Bekeme Masade; brother of WTO Director-General, Mrs Ngozi Okonjo-Iweala; Board member, CSR-In-Action Advocacy, Dr Nechi Ezeako; and Lead Pastor of The Elevation Church, Godman Akinlabi.

Nominations are currently open for the third Community and Human Rights (CAHR) Awards. Now in its third year, the annual CAHR Awards has been extended to cover the entire African continent.

CAHR Awards is Nigeria’s first event dedicated to celebrating outstanding individuals and organisations that have performed excellently in engaging their communities creditably through inclusion, equity, environmental awareness, poverty alleviation, education and the general promotion of human dignity. Previous winners include Agip Oil Company Ltd, Africa's richest man, Aliko Dangote, WTO Director-General, Dr Ngozi Okonjo-Iweala, and Nigerian human rights activist, Aisha Yesufu.

“It is now ever more pertinent to promote a keen sense of community, human empathy, integrity and in our pan-African societies amidst intensifying conversations around insecurity, poverty, injustice and inequality,” said Bekeme Masade-Olowola, the Chief Executive of CSR-in-Action Advocacy and chief host of the CAHR Awards.

“The CAHR Awards seek to celebrate individuals and organisations, either big or small, famous or unsung, who have contributed immensely, either through their leadership or advocacy, to engendering development, justice and fairness in communities across Africa. We are calling you to nominate your community development and human rights heroes,” CSR-in-Action Advocacy Chairman, Prof. Wale Omole, added.
There are seven different award categories, but at least nine awards, to be won by individuals and corporates, each dedicated to a late historically prominent personality. Categories include the Ken Saro-Wiwa Environmental Management Award, MKO Abiola Community Engagement Award, Hajiya Gambo Sawaba Community Impact Award, Funmilayo Ransome-Kuti Human Rights Award, Mallam Aminu Kano Award for Leadership, Josephine Nkemdilim Equal Rights Award, and Apostle Hayford Alile Humanitarian Award.

To nominate their Community and Human Rights heroes, members of the public are to visit https://csr-in-action.org/sitei/cahrawards/ , click on the ‘Nominate now’ button, and follow the directions.

Selection of winners and presentation of the CAHR Awards follow a rigorous six-step process. First is the current phase where individuals and organisations are nominated by themselves or by the general public for suitable award categories. Then, the internal review process of sieving multiple nominations, verification of persons and their qualification for the category entered, and selection of the most impressive/suitable profiles based on available resources online.

Next is the voting stage where the voting portal is opened to the public to allow the selection of deserving recipients of the various categories of the CAHR Awards. After that, shortlisted award nominees will be asked to documentary proof to validate their qualification to the categories for which they have been nominated. In the final stage the CAHR Awards, Jury will scrutinise information provided by the award nominees and will judge based on a set criteria. The winners will be presented their awards at a colourful ceremony in October 2021.

The CAHR Awards is organised by CSR-in-Action, a foremost African sustainability advocacy and consulting firm, and funded by Ford Foundation and Global Rights.

To enable ease of payments and achieve instant value in a flexible manner for its post-paid customers, MTN Nigeria has introduced Remita, a leading electronic payment platform, for the management of all its post-paid invoicing, payment as well as service-and-expense reconciliation needs.

With this development, enterprises and individuals on MTN’s post-paid billing system will now be able choose an invoice and amount to pay through any of the multiple payment channels available on Remita, receive a payment notification and an automatically updated transactions record with Nigeria’s largest mobile company.

The telecommunications giant made this announcement recently after integrating its system with Remita’s invoicing and payments solutions suite. The partnership is expected to holistically transform the experience of post-paid customers of MTN Nigeria, enabling them consummate transactions in the most convenient way, achieve payment flexibility and maintain a record that is up-to-date and truly reflective of their payment status.

With post-paid payments now to be made on Remita, customers can centrally view, pay and manage all their bills. They can also retrieve their invoices and complete payments for their total outstanding bills or selected invoices. They would also be able to enter a custom amount to be settled through a wide array of payment options available on Remita including card, internet banking, electronic wallet, USSD, bank transfer, phone number and registered Remita profile. Remita transactions can also be completed at any bank branch and agent locations nationwide.

To enjoy Remita’s fast and reliable service for MTN post-paid bills, customers are to visit Remita website, remita.net, select ‘Bills and Purchases’, click ‘Pay MTN Bills’, enter their identification type (Invoice ID, Account ID or Service ID), and then proceed to pay through the option most seamless for them.

In its announcement to customers, MTN confirmed that it had partnered with Remita for an easier payment experience and encouraged customers to call 216 or email ES.Service@mtn.com for more details on how to enjoy the service which would guarantee them a stress-free payment experience.

Setting the pace for other players within the telecommunications industry, Remita billing and payment system is the first and only one of its kind within Nigeria which offers such an impressive level of transparency, ease of use and instant service consummation for post-paid customers.

Speaking on the collaboration, David Okeme, Divisional Head, Vertical Markets and Payment Applications at SystemSpecs, providers of Remita, said: “With the increasing competition in every sector of the economy today, we at SystemSpecs are always exploring opportunities for collaboration, with the objective of improving customer experience across various levels of existence.

“Partnering to power the payment needs of MTN Nigeria’s post-paid customers is yet another step in this direction which aligns with our insatiable longing to add value through the provision of innovative payment technology.”

Remita thrives on partnerships with other players within Africa’s financial ecosystem and has emerged a provider of robust payment infrastructure and solutions to telcos, fintechs, financial institutions as well as individuals, other organisations and governments.

MTN Nigeria provides wireless telecommunication services and offers roaming, Internet, bills payment, device financing, data management, SIM registration and other related services to individuals and corporate customers all over Nigeria.

Amidst the growing trend of broken marriages, seasoned relationship coach, author, counsellor, and public speaker, Godman Akinlabi, has launched Amare, a subsidised online preparatory and enhancement course aimed at building and sustaining healthy matrimonies.
Amare (a Latin adverb meaning “to love”) is starting with two crucial modules; a Marriage Preparatory Course for singles looking to start their journeys, and a Marriage Enhancement Course for married couples looking to reinvigorate their relationships. Whether bothered about marital readiness or spousal compatibility or trying to bring back the spark in their union, these online courses are designed to answer participants’ yearnings and to strengthen relationship bonds.
“Having invested seventeen years in the marriage institution and nearly twenty ministering and counselling, I have discovered the beauty in two people coming together in unity to do life and to take-on the world, and also the negative consequences of marital disharmony,” said Godman Akinlabi, the programme’s anchor.
“According to reports, the rate of divorce around the world has doubled in recent decades due to a variety of reasons. Largely rooted in faulty foundations, such issues include loss of interest, overwhelming career pressure cum-goal pursuit, financial challenges or simply the selfish pursuit of personal happiness. These then result in a broken partner, a broken home or both, leaving offspring and spouses with self-esteem, trust and acceptance issues that then inflict emotional or physical harm on the society. Amare aims to reduce this worrisome trend by improving the quality of marriages and relationships that lead to marriage.” He added.
Designed as a safe space for mutual vulnerability, Amare has practical modules for enhanced communications to deal with personal fears and trust-issues, financial management, family planning, extended family relations, building stronger foundations, tolerance and planning for a collective future, amongst others. The insights couples gain will help them create a template suitable to build and maintain long-lasting and fulfilling marriages.
Amare launches to serve a global audience from April 2021. Interested participants can enrol for a Marriage Preparatory Course, Marriage Enhancement Course, or take a free marriage-readiness test online at www.amarecourse.com.
Godman Akinlabi, fondly referred to as PG, is a renowned relationship coach with deep insights on relationships which he conveys in a uniquely simple and relatable style. He has authored several globally acclaimed relationship books such as Solid: Building the Marriage of Your Dream, Gauging Readiness for Marriage and others. He is the host of The BetterHalf Show, an online TV series, and a weekly Twitter series, #MrMrsBetterHalf. Akinlabi is also the Global Lead Pastor of The Elevation Church, Lagos, Nigeria and

Submissions are ongoing in the 2021 Children’s Day Essay Competition organized by Africa’s leading FinTech and HR Tech firm, SystemSpecs, in furtherance of its commitment to the development of indigenous IT capacity for national prosperity,

The providers of Remita, Paylink and HumanManager are currently receiving entries from children across Nigeria into the junior and senior categories of the competition which is now in its second year.

Themed “Building a more Secure Nigeria using Technology” entries are to be submitted through the competition portal, www.systemspecs.com.ng/2021essay, from 10:00 am on April 1 2021 until 6:00 pm on April 30 2021. The competition is open to children that school and live in Nigeria who would be no less than 9 years and not older than 16 years by May 26, 2021.

While entries into the junior category are for children between ages 9 and 12 and should not exceed 1,000 words, entries into the senior category are for children between ages 13 and 16 and with a maximum of 1,500 words. Entries must be participants’ original ideas written in English, and endorsed by an accredited school official, parent or legal guardian.

“It is our belief that a solid technology foundation is necessary for any nation to compete and thrive in contemporary times. The competition’s objective is therefore to stimulate and encourage young Nigerians to become more technologically aware, so they can intuitively consider technology as a natural response to addressing everyday challenges around them,” said Deremi Atanda, Executive Director, SystemSpecs.

The first place winners of the competition in each category would respectively receive a high capacity laptop, a topnotch headphone, monthly 10 gigabyte Internet data for one year, branded travel suite case, a unique keepsake hoodie, a thermal flask and school bag.

Second place winners in each category would also respectively receive a high capacity laptop, a topnotch headphone, monthly 5 gigabyte Internet data for one year, a trendy hoodie, a thermal flask and school bag.

The third place winners in each category would respectively receive a high performance tablet, a headphone, a branded hoodie, a thermal flask and school bag while top 10 Honour Roll winners in each category would also be handsomely rewarded and certified.

Similarly, the school that produces the top winning participants in junior and senior categories would be rewarded with 10 and 15 high capacity personal computers respectively.

“The SystemSpecs Children’s Day Essay Competition is another expression of SystemSpecs’ Corporate Social Responsibility which has over the past couple of years been focused on raising a new generation of tech-enabled Nigerians to lead the country to become one where the benefits of technology easily becomes an everyday reality,” Atanda added.

The 2021 edition follows the very successful inaugural edition which held last year and attracted over 2,000 entries from more than 500 schools in 29 states and the FCT. This year’s edition of the contest is expected to be bigger, drawing even more participation across Nigeria.

The organiser of this competition, SystemSpecs, is a 29-year-old household name in Africa for innovative financial and human capital technology solutions and services. The ideas birthed from the 2021 SystemSpecs Children’s Day Essay Competition would be put together and shared with relevant stakeholders as the bright thoughts and contributions of Nigeria’s tech-savvy youngsters to tackling our security challenges.

Remita, a leading electronic payment platform, has commenced the sale of 2021 Universal Tertiary Matriculation Examination (UTME) ePINs to prospective candidates seeking admission into tertiary institutions in Nigeria.

This follows a recent announcement by the examination body, the Joint Admission and Matriculations Board (JAMB), of the sale of ePINs for UTME and Direct Entry registrations till May 15, 2021.

Prospective candidates are to commence the process by registering their National Identification Number (NIN) by typing the word ‘NIN’, then space, adding their 11-digit NIN and sending as an SMS to 55019, e.g (NIN 00123456789). They would receive a 10-character confirmation code on the telephone number that would be used to purchase their ePIN.

They are to then proceed to the Remita website (www.remita.net) and click ‘Buy JAMB form’, select ‘UTME’ or ‘Direct Entry’ and input their confirmation code, registered phone number, and other necessary details.

Candidates can make payments using their debit/credit card, internet banking, mobile wallet, USSD and others options. Once payment is completed, PIN is delivered to the candidate’s phone number and also displayed on their Remita receipt.

Kayode Osinulu, Product Manager, Applications and Vertical Markets at SystemSpecs, the providers of Remita, said prospective candidates of the 2021 UTME are guaranteed fast, reliable and seamless registration when they buy their ePIN on the Remita platform.

“Our payment system delivers a seamless experience to every candidate as they purchase their PIN. They can also make this purchase at any time and from anywhere through any of the multiple payment options available on Remita,” he said.

Meanwhile, Head of Public Affairs and Protocols, JAMB, Dr. Fabian Benjamin, said the UTME mock examination will be held on Friday, April 30 for those who indicate interest and are registered before April 24, while the UTME will hold from June 5 to June 19, 2021.

Remita is a leading payment platform in Nigeria that helps individuals and businesses to easily settle bills of various kinds.

The Joint Admissions and Matriculation Board, JAMB, is the Nigerian entrance examination board for tertiary-level institutions.

https://www.championnews.com.ng/remita-enables-seamless-purchase-of-2021-jamb-epin/

As the traditional roles of men and women in the society continues to shift and women are increasingly taking on additional prominent and more impactful roles in society, young men have been challenged to rise to the occasion by reassessing their roles and managing the transitioning with wisdom.

John Obaro, Managing Director of foremost African technology firm, SystemSpecs, made this declaration at the Boys to Men Foundation inaugural conference recently held online. He added that in today’s world, individual and collective successes are factors of intellectual ability, instead of gender stereotypes or even physical strength.

The Boys to Men Foundation initiative aims at formulating a policy of action to developing young men into responsible, ethical-thinking adults with integrity in different aspects of life.



Obaro said: “The modern man is one who is aware of the world he is in and is not threatened by the power or success of a woman but is ever ready to accept the change and open to new possibilities.”



Today, the traditional role of providing for the family or attaining and occupying certain career heights have evolved beyond traditions. Hence, the more women that are economically empowered, the more tussle for change, power and acceptance in ‘odd fields’.



Obaro stated that technology is changing the dynamics of culture and the society in both positive and negative ways. “Easy and affordable access to information is for good and at the same time could pose new challenges that we have to deal with. We should rather harness its positive benefits to deepen knowledge and exposure and encourage both genders to break stereotypes,” he added.


He further said that men should create enabling systems to de-emphasise gender-based biases, be a model for males and inspire both males and females around them to be good role models to other females.


Keynote Speaker and Chairman of Access Bank Group, Aig Imoukhuede, noted that we must first be human to be a good man or woman. “God has given mankind – not just the male specie – dominion over the earth because of their superior intellect, which is a serious responsibility. Men need to see beyond the norms to enable a gender inclusive society,” he said.

Long accused of being corrupt and perpetuating grievous crimes, Shell, one of the world’s largest oil companies and Nigeria’s largest oil producing company, is currently in trouble and may be made to pay for decades of oil theft and environmental degradation in the country. Nigeria’s Department of Petroleum Resources (DPR) has indicted the oil giant for stealing over 2 million barrels of oil between June 2016 and July 2018 through unapproved metering system, which it used to misappropriate crude and shortchange local operators. Shell itself has reportedly admitted taking out huge amounts of crude oil from the country, unaccounted for.
Also, the British Supreme Court has now declared that Nigerian can sue the oil giant in the United Kingdom for damages to their lands, barely a week after a court in the Netherlands compelled it to compensate Nigerian farmers for damages over 2004/2005 oil leaks.

The Missing Oil
Shell is the oldest international oil company in Nigeria, having started business in the country since 1937. It is also Nigeria's largest producer, accounting for more than 21% of Nigeria's total petroleum production at 629,000 barrels per day from more than eighty fields. These are just the official figures. Shell may have been taking oil in quantities far greater than this out of Nigeria, as recent revelations indicate. The reasons why this is possible is not farfetched. Huge pipelines are used to convey crude oil from the oil fields to the terminals, where it is fed to vessels and shipped off. It is from these terminals that most of the theft is allegedly taking place.
“I will like to use this opportunity to give a brief on how we will account for hydrocarbon in this nation. I think that will provide a better view for this committee as well as Nigerians. The process starts well because every crude oil comes from well, and you cannot drill a well without knowing the capacity of that well to produce,” Sarki Auwalu, Director/Chief Executive Officer of DPR, told the House of Representatives Adhoc Committee on Oil Theft recently.
“Most of the thefts are coming from land terminals because the land producers have to use pipelines to transport the crude into the terminals for export. In the process, you have a lot of third party interference; small volumes that account for the larger volume are being taken and they are being stolen,” Auwalu said.
Today’s Echo gathers from reliable sources that Shell itself has admitted to the taking more than its due of Nigerian oil. A letter from the oil giant to the DPR dated February 8, 2021, is captioned: “RE; REALLOCATION OF BONNY TERMINAL GROSS VOLUME FROM JUNE 2016 TO JULY 2018 BASED ON COMPARISON OF METERED GROSS VOLUME BETWEEN CORIOLIS METER AND LACT UNIT INSTALLED ON THE NTCL.”
Part of the letter reads: “We refer to your letter Ref: DMR/CTO/COA/COM/V.5/045 dated 28 January 2021 in respect of the above subject.
“We note your directives as contained in the above-referenced letter and wish to confirm that The Shell Petroleum Development Company of Nigeria Limited (SPDC) will implement the refund of the 2, 081, 678 barrels of crude oil from the Trans Niger Pipeline (TNP) injectors (SPDC, TEPNG, NDPR and WSPOL) to the Nembe Crude Trunk Line (NTCL) injectors (Aiteo, Belemaoil, Eroton and Newcross) over the period from end of January 2021 till November 2021 in accordance with schedule III as contained in the Department of Petroleum Resources (DPR) letter Ref: DMR/CTO/COA/COM/V.5/230 dated 14th December, 2020….”
Meanwhile, both Shell and the DPR have denied the allegations despite the exchange of letters between the two indicating otherwise. In a text message to the News Agency of Nigeria (NAN), Paul Osu, Spokesman of DPR, stated that there was no such thing.
“There is absolutely nothing like that, kindly disregard,” Osu said.
Also, Mr Bamidele Odugbesan, Media Relations Manager at SPDC in a telephone chat with journalists, dismissed the report as false and malicious and irresponsible and urged NAN to cross-check with the DPR.
“The claims are baseless and without any iota of truth, it is totally false and malicious and lacks substance. “SPDC was not under any probe by the DPR. SPDC had never admitted to underreporting its crude production to DPR or any authority,” Odugbesan said, according to NAN.

A History of Deceit, Inconsistencies

This will not be the first time Shell has been found to be sneaky, corrupt and malevolent in its dealings with the Nigerian government and local oil producers.
In November 2013, Amnesty International said it had uncovered proof that Shell conceals the amount of oil it spills in Nigeria's Niger Delta region. Shell maintains most of the oil it loses is due to theft, not to slipshod operations and management.
In December 2020, Dutch television documentary programme Zembla, together with Dutch environmentalist organisation Milieudefensie, reported in a documentary that “multiple witnesses declared that SPDC staff, had deliberately caused oil leaks to make money from subsequent clean-up initiatives. The findings of the Dutch activists were unveiled in an article on Aljazeera.
According to sources, Shell employees profit from these intentional oil leaks by pocketing money from clean up budgets,” Zembla said in a press release summarising an 18-month investigation of various leaks between 2010 and the present day.
Zembla added the SPDC, along with the Dutch embassy in Nigeria, were aware of the accusations but had failed to address them.
Shell has also admitted to its own inconsistencies in the past. In 2004, Bloomberg announced in a report that the international oil giant announced that it had overestimated the size of its "proved" oil and gas reserves by an astounding 20%.

Victory for the Niger Delta
Shell’s presence in Nigeria has brought significant revenue to the Nigerian government but has also caused untold hardship to host communities in Nigeria’s Niger Delta through extensive environmental pollution occasioned by irresponsible oil production activities and a gross lack of accountability.
Although blessed with abundant petroleum resources, the region has not derived enough benefits from the wealth that sits under its land over the years. Decades of oil exploration has not yielded the desired prosperity for the region, partly due to Shell’s oppressive exploitation. Yet, there is good news as the United Kingdom’s Supreme Court ruled recently that a group of 42,500 Nigerian farmers and fishermen can sue Royal Dutch Shell in English courts after years of oil spills in the Niger Delta contaminated land and groundwater there.
Members of Nigeria’s Ogale and Bille communities allege their lives and health have suffered because repeated oil spills have contaminated the land, swamps, groundwater and waterways and that there has been no adequate cleaning or remediation.
“(The ruling) also represents a watershed moment in the accountability of multinational companies. Increasingly impoverished communities are seeking to hold powerful corporate actors to account and this judgement will significantly increase their ability to do so,” said Daniel Leader, partner at Leigh Day, the law firm representing the Nigerian farmers.
Also, in a landmark Dutch ruling two weeks earlier, an appeals court held Shell responsible for multiple oil pipeline leaks in the Niger Delta, which is at the heart of the Nigerian oil industry, and ordered it to pay unspecified damages to farmers, in a victory for environmentalist.

To investors, Eti-osa is an investment destination as the region’s real estate potentials continue to grow. Due to studded development in the area, the region is critical to Lagos’ image as the centre of excellence. But not many are concerned about what it once was and what it is now.

Documents recently extracted from the national archives have revealed stunning information about the history of the Eti-osa Local Government in Lagos and questioned the current geographical structure of the area.

The area of land in Lagos State known as Eti-osa Local government encompasses Ikoyi, Victoria Island, Lekki Phases one and two, all the way down to Ajah, and ends in Sangotedo. It also includes Addo, Langbasa and Badore in the Ajah area.

Eti-osa accommodates the most affluent Nigerians and is probably the most prosperous area in Lagos today. However, it was not so from the beginning. In fact, it was the poorest part of Lagos, up till recent times.


An intelligence report on the Eti-osa area of the Lagos colony, carried out in 1949 under colonial rule by a district officer, known as T.F Barker, describes the area as, “a tract of land between the lagoon and the sea beach fiftytwo square miles in the extent of which the western boundary runs northwards from the sea about three miles from the East mole of Lagos Habour.”

The earliest historical reference to the area is related to Efunroye Tinubu, the 19th century woman of influence, who created outposts along the coasts of EtiOsa for her thriving slave trade.

Tinubu’s outposts included Lekki and La Palma (Orimedu). In those days, the interior of the area was for all intents and purposes, inaccessible and was indeed, so described until 1937 when it became known as the Addo area. The name, Eti-osa, meaning, ‘ by the Lagoon’, was given to it by a reverend, Thomas Adeshina Jacobson Ogunbiyi, under the British colonial government.

Barker, who later became the governor of Lagos described the prevalent conditions of the area as:

“Owing to its inaccessibility and its lack of roads, both factors which are likely to persist for many years to come, the Eti-osa area remains one of the few districts which cannot be satisfactorily toured unless rest houses are provided.”

According to Barker, to bring development and civilisation to the area, a meeting was held in May 1949 to determine whether Eti-osa should be governed as an independent native authority or brought under the Ikeja Division, the most prosperous part of Lagos at that time.

For instance, Barker’s report states that in the West (of this territory) there are wide expanse of barren marshland where nothing grows but reeds and coarse (tall) grasses. The triangle of marsh between Maroko (Sandfill), Gedegede and Ogoyo (no longer in existence) which has been included in the Government anti-malarial drainage scheme as the ‘Ilado swamp area’ should soon provide (then) a valuable square mile or two for planned utilization, and the adjacent marshland extending eastwards to Ajiran offers opportunities for development when drained.

These marshlands described above are no longer in existence as they have been filled and converted into habitable areas now containing upscale residential estates.

He further describes a waterway, which was an extensive swamp that is a continuation of the inlet from the lagoon between Ajiran and Aja, eastward past Ikota, and eventually into the Epe division of Lagos, which included Ibeju-lekki.

“This waterway, though not marked on published maps, is of considerable local importance…” he noted.

From logical evaluation, the massive swamp described above may have been the area now currently occupying several popular estates including the Chevron Drive and the Victoria Garden City (VGC).

Farther to the east, patches of high forest once stood but these have long been destroyed, as claimed by Barker.

The evidence of this massive forest described by Barker can be seen today all over Eti-osa as remnants of thick forests remain behind the Jakande Housing Estate and the Lekki Conservation Centre, being managed by Chevron oil and gas. The presence of this forest also lends credence to the origin of Igbo Efon, said to be founded by a hunter and named, ‘Forest of Buffalos’ (meaning of Igbo-efon in Yoruba).

Barker’s intelligence report also includes an old map of Eti-osa with territories of major communities in the area clearly delineated. This map, however, sharply contrasts with the prevailing reality of the area today.

The map begins with Sandfill formerly known as Maroko, on the westernmost boundary of the land, and the current territory of the Oniru of Iru land.

Next to Maroko on the South Eastern side, was Maiyegun, with a territory that extended eastwards, through the areas that today, include the Jakande Housing Estate, all the way to Igbo Efon, its Eastern neighbour.

Maiyegun was bordered in the North by Igbokusu. Igbokusu was on the North-east of Sandfill, on the banks of the lagoon, with a large expanse of land filled with marshes that extend all the way to Ikota and Aja. It had both Maiyegun and Igbo Efon to its South.

Igbo-efon, a settlement located within what used to be a thick forest filled with Buffalos, had Maiyegun on its Western border and extended Eastwards to Ogombo, with Igbokusu as its Northern neighbour. To its South was Okun Alfa.

Ogombo shared an eastern border with Sangotedo, the easternmost settlement in Eti-osa. North of Ogombo, there were several settlements indicated on the map which today are known as the Aja area. They include Iranla, Oke Ira, Addo, Badore, Oshodi and Langbasa. This part of Eti-osa has remained largely unchanged, compared to the Western part.

Okun Alfa and Okun Aja, which are almost non-existent today because of the encroachment of the Atlantic Ocean, mark the southernmost reaches of Eti-osa.

Once the outback of Lagos, Eti-osa has become the prime real-estate destination of Nigeria, and the location of some of the largest corporate organizations in the country. Due to the buildup of population, construction of infrastructure and modern buildings in the area, Eti-osa looks very much different from 70 years ago.

There are even smaller settlements, according to reports, that have either been subsumed in the encroaching civilization or have been relocated to other parts of Lagos. This transformation continues today and will go on for a long time.

https://businessday.ng/news/article/the-hidden-story-of-eti-osa-a-marshland-turned-investment-destination/

Movie director, Tyler Perry has announced that he is going through a midlife crisis.

Perry, who was listed by Forbes as the highest-paid man in entertainment, in 2011, earned US$130 million between May 2010 and May 2011, is currently unmarried at 51.

A midlife crisis is a transition of identity and self-confidence that can occur in middle-aged individuals, typically 45 to 65 years old. The phenomenon is described as a psychological crisis brought about by events that highlight a person’s growing age, inevitable mortality, and possibly lack of accomplishments in life.

“This is what a midlife crisis looks like. I’m 51, single and wondering what the next chapter in my life will look like. Whatever it looks like I’m going to walk with God, be the best father and man I can be, hold my head up high, and try to look my best doing it!! In a world with so much sadness, please try and stay in the good! Merry Christmas and let’s look forward to 2021 bringing us peace!” Perry posted on Facebook on Thursday.

Ramatu Noya Tolba, a student of the University of Maiduguri, now living in Lagos, narrates in grisly details, how she escaped an attack from the deadly group in 2015, losing several loved ones including her twin sister in the process.

SWITZERLAND, DECEMBER 14 – It has been 11 years now since terrorist group, Boko Haram started its deadly insurgency in the North-East against the Nigerian people and government. It has been 11 years of terror, destruction, tears and blood with over 51, 000 people killed and close to 2.5 million displaced from their homes and means of livelihood.

The grim spectre of Boko Haram was revisited recently during the Good Citizen show on Inspiration FM, when Ramatu Noya Tolba, a student of the University of Maiduguru, now living in Lagos, narrated in grisly details, how she escaped an attack from the deadly group in 2015, losing several loved ones including her twin sister in the process.

Sponsored by Sustainability Consulting firm, CSR – in- Action and Aspire Coronation Trust (ACT) Foundation, a grant making non-profit organization, and hosted by renowned sustainability advocate and consultant, Bekeme Masade Olowola, the Good Citizen show features discussions on pertinent public issues related to corporate citizenship in Nigeria.

Contrary to prevailing misconceptions, Ramatu, a thoroughbred Fulani lady, comes from a highly educated Christian family in Adamawa. In 2015, while studying for a Law degree with her twin sister in the University of Maiduguri, a city besieged by terror, Ramatu got the alarm that would change her life forever and leave her traumatized.

“In my year two second semester, we had this encounter of Boko Haram and that was how it started,” Ramatu said.

“So, people were scared and even the security guys were scared too. —- instead of them to loose everybody, they thought it was a good idea to open the gate for everybody to run away so that at least even if you are going to die not all of us will die. So, that was the idea they had. So, we now ran away and in the process we entered the bush, we did not know our way back and that was how we got separated…..

“Some people were wearing pyjamas; I was wearing one red gown like that actually. She (Her twin sister) was wearing one shorts and a singlet. So, we were just running up and down. Our phone got off. We could not communicate because even inside the bush there was no network so, maybe at the process of running you meet some people also running, then you join them because you do not know where they are going to, you too you do not know where you are going to.”

What followed was a harrowing ordeal in which Ramatu and her colleagues kept running in the bush for over one month. At some point, they ran into Boko Haram fighters.

She described it thus:

“ In the process of running, we now entered their hand because we did not know, we thought they were soldiers, They were wearing all these Army cloth so we thought they were Army, we were thinking they will help us. When we got into their place, we now found out……they now captured us, gathered us. They have camp. Not one place, not two places, they have camps like just the way armies used to camp.”

During a shootout with the Nigerian Army, Ramatu and others eventually escaped from the Boko Haram camp and kept running for what seemed like a lifetime until they arrived at the Cameroonian border, hungry, unkept and exhausted. They were as scared of getting shot mistakenly by the Nigerian soldiers as they were of being abducted by the terrorists.

“Yes, we were running up and down we did not know the bullet may even shoot you because at the process of running they would not know, they will just shoot you. Even the soldiers can shoot you, so we were just running. Especially when we saw those soldiers at the back because we did not know that they were soldiers, we were just running away from them.”

According to Ramatu, she noticed the Nigerian soldiers did not wear uniforms in order to distinguish themselves from the terrorists.

“When we started hearing the sound of their gun we then noticed they were soldiers, because soldiers do not wear uniform in the bush because they will not be caught because even the Boko Haram are wearing the camouflage. so, they do not wear uniforms, but they wear some things like bangles to identify themselves. But we did not know, so we keep running. That was the last time I saw her (twin sister)”

“So, from there when they were confused, we started running, so I do not know where my sister ran into. Me, I just found my way, we were just running, we thank God we got to the Cameroonian border. Those soldiers from Cameroonian side now took us to a port where they camped themselves.”

With nostalgia, Ramatu recalled her experience in the bush and the refugee camp with some of her friends, many of them could not make it.

“I remember one Yoruba guy, I used to call him Ade but it is Adegbemi or something like that. We used to call him Boko Haram. Because after the thing you now see that he wants to become Boko Haram, because they actually they killed his friend. And the girl, the other Igbo girl Ruth, she is a little bit chubby so, I think, before we even came out of that border, she was late.”

Ramatu said she watched as the Cameroonian soldiers carried her friend’s corpse from inside the bush.

“She was not shot. I do not know what actually happened because she just fell and died. It is not that somebody told you, it is in my presence like this because we were together. Sometimes you feel like she cannot run again, we would be dragging her because she is a little bit chubby.”

In disturbing details, she also spoke about her ordeal in the forest and how she learnt that her twin sister did not make it:

“At night and daytime you just keep running, Yes. You can’t stay now because they may come to you and kill you for nothing so, just be running. I was in the bush for like a month and a week during this ordeal, yes, I mean, and for good one week, no food, no water. For good one week.

“Because we do not know our way out, it is just a forest, you do not know where to go, you will be thinking maybe at the process of going like this you meet them, so, we were just confused. And I was thinking about how I am going to see my sister because there is no phone to communicate nothing. I was not even in my senses when they told me that my sister died.”

For many Boko Haram victims, the memories often become a trauma that leaves them damaged mentally. After leaving the Cameroonian refugee camp, Ramatu said they were taken to a hospital where they spent several weeks.

“When we are rescued, the government asked that we be taken to the hospital, because some of us are having gunshot wounds and also because of the sound of the bomb, some of us were being mental. I do not know how to put it right. They are mentally affected. So, even if you do not have any injuries, they have to take you for a check-up. You spend like two months, three months in the hospital. At some point I could not remember anything. I would just be looking like a doll, if you ask me anything, I will just be looking at you.”

Ramatu, who was brought to Lagos by her aunt in 2016, also spoke on the effects of psychological damage inflicted on Boko Haram survivors and how the one-sided, stereotypical narratives of the conflict and Northern Nigeria in general, is worsening the situation.

“It is not easy for me but, I started to and I am getting through it, it is not that easy but I knew that I am not the only one, my own is not even that very bad like from other people you wake up one day you will not have family, you will Just be roaming about only you, no family You do not even know anything about your family, like the kids, I am talking about the kids.”

She also speaks on the discrimination faced by former Boko Haram hostages and people from the conflict areas.

You know, everybody has the way they define people. When you tell them the part of the country or city you are from, they begin to call you Boko Haram, but I do not take it as anything. The reason why they are seing like that is because of the Boko Haram issues. Like me, sometime, you feel like when you are angry you feel like killing somebody.

“If they say you are Boko Haram because you are from North sometimes, I do not blame them but not everybody that is Boko Haram because even both the Christians and Muslims, nobody is safe in the north. They can kill anyone; they do not care

“And the doctors after a treatment, they will discharge everybody. without knowing that those people are going to become a problem to the society. The reason I am saying is because my other friends that we have been treated together, some of them are now let me say they have ran mad now, and some of them use to have up issues in their workplace because I have their contact.”

Source: https://www.todaysecho.com/politics/escaping-boko-haram-harrowing-tale-of-a-survivor-exclusive/

CAHR Awards is live right now:
https://www.youtube.com/watch?v=cERzHO1qHog

West-Africa’s foremost Sustainability advocacy and consulting outfit, CSR-in-Action, and her partners are set to honour those contributing to social justice and recognising the rights of communities contributing to the economic prosperity of Nigeria.

Also to be honoured at the second Community and Human Rights (CAHR) Awards to hold virtually on Wednesday, 18 November, 2020, are promoters of gender inclusion in various sectors of the nation.

Former Finance Minister and World Trade Organisation (WTO) Director-General hopeful, Ngozi-Okonjo Iweala has been nominated for the Aminu Kano Award for Leadership alongside EndSARS protests mobiliser and member of Lagos Judicial panel on police brutality, Rinu Oduala.

Aisha Yesufu, another prominent figure in the EndSARS movement and co-founder of the Bring Back Our Girls Movement, has been nominated for the Funmilayo Ransome-Kuti Human Rights Award. Access Bank is amongst the representation of corporate organisations on the list with a nomination for the Hajiya Gambo Sawaba Community Impact Award.

Follow this link to register and attend: https://csr-in-action.org/sitei/cahrawards/

She Leads Africa (SHA) and Women in Mining in Nigeria (WIMIN) are two of the top contenders for the Josephine Nkemdilim Equal Rights Award, while Amnesty International, Women of Inestimable Values Foundation, and Socio-Economic Rights and Accountability Project (SERAP) are contending for the Funmilayo Ransome Kuti Human Rights Award for Organisations.

Remarking on the selection process for the second CAHR Awards, one of the jurors, renowned rapper and community activist, Michael Ugochukwu Stephens known as Ruggedman said, “Nigerians want to identify with, and celebrate people with the uncommon courage to seek for peace and justice even when it is difficult, people who fight for the right of the common man and champion the cause of the masses. These are the people we are celebrating at the CAHR Awards.”

The jury for the prestigious awards also includes community organiser and women rights activist, Emem Okon; radio personality and musicologist of Classic FM, Sola Mogaji, renowned communications expert, Tokunboh George-Taylor; talk show host and media consultant, Ireti Bakare-Yusuf; Chairman/council member, Mining Solid Minerals Group, Lagos Chamber of Commerce and Industry, Otunba Engr. Babatunde Alatise; and community development specialist, Dr. Mina Ogbanga.

Previous winners of the CAHR Awards include Yemisi Ransome-Kuti, Agip Oil Company Ltd, Aigboje Aig-Imoukhuede and Segun Awosanya, known as Segalink, to name a few.

https://leadership.ng/okonjo-iweala-access-bank-yesufu-others-nominated-for-cahr-awards/

Mali’s President Ibrahim Boubacar Keita has been removed from office in a Coup, despite the mediating efforts of Nigeria’s President Muhammadu Buhari and his predecessor, Goodluck Jonathan, who is the envoy of the Economic Community of West African States (ECOWAS) to Mali.

ECOWAS has already suspended the West-African nation and pledged a range of retaliatory actions, including financial sanctions, over this latest development.

Today’s Echo gathers that Keita resigned late on Tuesday, hours after mutinying soldiers seized him from his home following months of mass protests against alleged corruption and worsening security in the country.

The Nigerian president had been at the forefront of peace moves, regularly sending his predecessor, Goodluck Jonathan to the fragile West African nation in an attempt to reach an agreement between president Keita and the opposition. Buhari was promoting a government of national unity that will include both parties.

https://www.todaysecho.com/politics/malians-overthrow-president-keita-despite-buhari-jonathans-efforts-at-mediation/

He had appealed to government and people of Mali to consider recommendations of ECOWAS Special Envoy, former President Goodluck Jonathan and his team, in resolving the political crisis, saying a government of national unity will provide inclusivity and ensure peaceful co-existence.

At the height of the crisis in Mali, Buhari flew from Nigeria to the Malian capital, Bamako, to attempt a peace deal, despite growing violence across different regions in Nigeria.

Buhari’s efforts failed Tuesday night, when Mali’s president and prime minister were detained by mutinying soldiers.

Speaking on national broadcaster ORTM around midnight, a distressed Keita said his resignation – three years before his final term was due to end – was effective immediately. He also declared the dissolution of his government and the National Assembly.

“If today, certain elements of our armed forces want this to end through their intervention, do I really have a choice?” Keita said in a brief address from a military base in Kati outside the capital Bamako where he had been detained earlier in the day.

“I wish no blood to be shed to keep me in power,” he said. “I have decided to step down from office.”

It was not immediately clear who was leading the revolt, who would govern in Keita’s absence or what the mutineers wanted.

Images posted earlier on social media said to be taken at the Kati garrison showed Keita and his Prime Minister Boubou Cisse surrounded by armed soldiers.

The dust is yet to settle in the unfolding online conflict between human rights lawyer and social media activist, Segun Awosanya, known as Segalink, and members of the Stand to End Rape (STER) movement, including popular feminist journalist, Kiki Mordi.

The ongoing social media battle between Segalink and Mordi is a spin-off from a much serious issue – Seyitan Babatayo’s allegation that prominent entertainment personality, Dapo Oyebanjo, known as D’Banj, raped her in a hotel room back in December 2018, and is trying to get away with it by abducting and threatening her.

In the wake of renewed focus on rape victims, Babatayo came out with her story on June 3, 2020, narrating the tragic details of the brutality she allegedly suffered from D’Banj. Today’s Echo and other media outlets reported Babatayo’s story, which immediately sparked outrage across the country. D’Banj denied the allegations and slammed a defamation lawsuit against Babatayo.

The public was further enraged when Babatayo came accused D’Banj’s team of unleashing security agents against her, abducting her and forcing her to make false statements.

Things got even more complicated after D’Banj’s former manager, Franklin Amuda, revealed new chilling details on what he knew about the rape allegation against the music star in a story that was reported by Today’s Echo.

Some people have argued that, after murder, rape is the biggest crime and should be met with the stiffest punishment imaginable. It is the deepest violation of a human’s right- the right to their body. Victims often suffer long periods of trauma with a distorted personality and some do not survive it.

Equally, a wrong accusation of rape is so traumatizing that it ruins the victims for life, sometimes causing them to commit suicide. Many men have been accused of rape in the past, with their alleged victim later coming out to confess that they had lied.

However, rape is also probably the hardest crime to prove, especially when both alleged victim and perpetrator have solid motives to hurt each other. A celebrity can be framed by a young, beautiful socialite who is interested in courting public attention. Likewise, a powerful man can take advantage of a beautiful lady simply because he believed he could get away with it, either by bribing or threatening her. Both narratives could be true in this case and that is why it is important for the society to know the truth. Nevertheless, under the law, D’Banj remains innocent until proven guilty.

The distraction began when Babatayo dropped the charges against D’Banj, after the police said they have been unable to establish a case of rape against the musician, In a letter dated July 17, 2020 addressed to the Inspector-General of Police through her lawyer, Olamide Omileye, she said she was withdrawing from the case for personal reasons.

Immediately, STER, which had been championing Babatayo’s cause, issued a statement, alleging that Babatayo had been forced to drop the rape charges under threat from D’Banj’s team.

Segalink, who was later revealed as an earlier supporter of the movement, came out on Saturday to slam members of the STER movement, calling them a ‘feminist coven’ and accusing them of pursuing a personal agenda that does not even help the case of the alleged victim. According to Segalink, members of the STER movement were threatening the alleged victim for dropping the charges. He insisted that their plan was to ruin D’Banj and make some money out of it. He specifically accused award-winning journalist, Kiki Mordi, who had exposed lecturers harassing university students for sex, of being a ‘hit man’ in STER’s agenda.

“I do urge all individuals and organizations within the social development space to always stand for the truth and mirror the interest of an affected party/victim of abuse in their words and actions at all times,” he said in one of his numerous tweets on the issue.

While STER has been largely silent on social media, Kiki Mordi has defended herself against Segalink’s diatribes, launching her own counterattack, accusing Segalink of deceit and betrayal, and playing a two-faced game in which he supported the movement offline and went ahead to berate them online. She later posted an audio recording of a conversation she had with Segalink where they discussed how to help Miss Babatayo. Mordi insisted she stands by all her words and it was Segalink.

“SEGALINK put my life at risk when he tweeted lies against me to his about half a million followers. Since then I have received: Death threats, Doctored tweets,” she said in one of her numerous tweets. She insisted Segalink must show proof that she issued ‘death threats’ against him.

“You must show me the threatening message I sent to you or any other person my dear friend and brother @segalink,” she said in another viral tweet.

The current social media macabre dance has taken the complete attention of the public off the main issue, a case that threatens to ruin the life of either the accuser or the accused. In the midst of the melee, we have forgotten to ask the right questions, we have left the main and chased the minor.

We urge the government, law enforcement agents and Civil Society Organizations to insist on further investigation of the incident, in a manner that does not expose the two parties to public trial as has been the case. We also urge the public to focus on the real issue and not the distractions going on in the social media. The public must know the truth, otherwise, the outcome will set up a wrong precedence and we would not have learnt any lesson from it.

Whatever happens at the end of the day, either D’Banj, or Babatayo may be scarred for life if the truth is not unveiled.

Exclusive from: https://www.todaysecho.com/lifestyle/kiki-mordi-vs-segalink-a-dangerous-distraction-in-a-grim-saga-editorial/

The Nigerian Civil Aviation Authority (NCAA) has tendered an apology to the management of Lagos based private airline operator, Jet Support Service, and lifted its suspension of its aircraft.

In what appears to be an authoritative slip-up, the NCAA had on Friday, July 3rd 2020 issued a suspension notice of part G (Aircraft leasing operations) of challenger 604 jet, owned by Jet Support Service.

A statement signed by the Director General/ CEO of the NCAA, Captain Musa S. Nuhu, reads that Jet Support Service who is the operator of challenger 604 aircraft is “hereby suspended within the Nigerian airspace forthwith, pending compliance with the requirements of the Nig. CARs”.

However, within 24 hours of issuing the suspension notice, the NCAA in another letter, signed by Captain Musa S. Nuhu and sent to the management of Jet Support Services, said it was apologizing “for the erroneous grounding of your Challenger 604 aircraft with registration G-FABO”.

The letter, seen by Today’s Echo’s correspondent, further reads that the “the suspension is hereby lifted with immediate effect and all appropriate authorities will be notified to lift any restriction that might have been placed on the aircraft”

Responding to the mistaken suspension of its part G operation and eventual withdrawal and apology by the NCAA, the Chief Operating Officer of Jet Support Service, Chukwerika Achum in a press statement acknowledged the apology letter by the NCAA and restated the company’s resolve to be an ethical and law abiding indigenous firm.

“As a proudly indigenous private airline company, focused on delivering quality world class service in a consistently effectual manner-parallel with government’s growth vision and mission, we have always been a proponent of ethical business practice, focused on accelerating the actualisation of economic growth and development.

We assure our stakeholders and the general public that the mistaken suspension of our Challenger 604 aircraft by the NCAA has been corrected, even as we acknowledge the apology letter from the NCAA,” the statement reads.

SWITZERLAND, JULY 04 – A member of the newly formed political movement, National Consultative Front (NCF), Professor Pat Utomi, has said details of the group’s meetings were leaked to the media prematurely, leading to some members distancing themselves from the group.

Confirming the formation of the National Consultative Front, renowned economist, Professor Utomi, told Today’s Echo that the group is a movement rather than a political party, as some media reports have suggested.

In a phone call with Today’s Echo’s correspondent on Friday, Utomi said, “We are just a group of people acknowledging that something is wrong with our country and looking for new ways to provide solutions. It is just a group of Nigerians, not a party.”

Another source close to the eminent business scholar revealed that political conversations are ongoing, but no party has been formed.

“He (Utomi) states that series of conversations are ongoing on the political environment. So far a new party has not been formed/announced,” the source told Today’s Echo.

Earlier this week, several media platforms reported that a group of 30 eminent Nigerians have formed a new political movement “aimed at driving reforms” in the country.

According to the widely circulated media report, a communique had revealed the name of the new platform as National Consultative Front (NCF).

Members of the movement include Ghali Na’abba, a former speaker of the house of representatives; Olisa Agbakoba, a prominent lawyer; Femi Falana, human rights lawyer; Obadiah Mailafia, ex-deputy governor of the Central Bank of Nigeria (CBN), and Oby Ezekwesili, a former minister of education.

Others are Abubakar Umar, Jibo Ibrahim, Chidi Odinkalu, Shehu Sani, a former senator; Remi Sonaiya, former presidential candidate; Tanko Yinusa, Shettima Yerima and Funke Awolowo.

On Thursday, Legal luminary, Olisa Agbakoba publicly distanced himself from the group. In a statement signed by Niyi Odunmorayo, his media assistant, the senior Advocate of Nigeria (SAN), said he was not consulted before being included as part of the coalition.

The statement read, “My attention has been drawn to a widely circulated story that I am part of a new political movement known as the National Consultative Front.

“Without prejudice to the need for such a political movement, I want to place it on record that I was not consulted and so I am not part of the National Consultative Front.”

Today’s Echo gathers that legal luminary, Femi Falana ,and former military administrator, Col Abubakar Umar, have also denied membership of the NCF through statements made on Friday.

Utomi, however, clarified the matter. He told Today’s Echo that everyone included on the list in the news report is a part of the group, but that the premature leak to the press had obviously caused some discomfort.

“The truth is that everybody on that list are actually part of the movement. The problem is that information from the meetings leaked to the media prematurely. That is why some people are denying it”, Utomi said.

https://www.todaysecho.com/politics/national-consultative-front-details-leaked-prematurely-to-the-media-utomi-exclusive/

As African countries begin to reopen borders and air spaces, the World Health Organization (WHO) has warned that it is crucial that governments take effective measures to mitigate the risk of a surge in infections due to the resumption of commercial flights and airport operations.

This was contained in a statement the international health organization sent to Today’s Echo on Thursday evening.

Many African governments acted swiftly, implementing confinement and travel restrictions in the early days of the pandemic. In the World Health Organization (WHO) African Region, 36 countries closed their borders to international travel, eight suspended flights from countries with high COVID-19 transmission and others had partial or no restrictions. So far Cameroon, Equatorial Guinea, Tanzania and Zambia have resumed commercial flights.

Today’s Echo gathers that in Nigeria, Murtala Mohammed Airport, Lagos and Nnamdi Azikiwe Airport, Abuja are set to resume domestic flights on June 8, as Nigeria continues the gradual reopening of its economy despite rising cases of COVID-19.

The 15-member Economic Community of West African States is expected to open their airspace on 21 July, according to the WHO

According to the Minister of Aviation, Hadi Sirika, Kano, Port Harcourt, Owerri, and Maiduguri airports will follow on July 11, while the remaining airports will be open for business by July 15

While open borders are vital for the free flow of goods and people, initial analysis by WHO found that lockdowns along with public health measures reduced the spread of COVID-19. Even with border restrictions, imported cases have sometimes brought back COVID-19 to countries which had not reported cases for a length of time. For example, Seychelles had not had a locally transmitted case since 6 April 2020, but in the last week 66 new cases – all crew members of an international fishing vessel – have been recorded.

“Air travel is vital to the economic health of countries,” said Dr Matshidiso Moeti, WHO Regional Director for Africa. “But as we take to the skies again, we cannot let our guard down. Our new normal still requires stringent measures to stem the spread of COVID-19.”

To resume international air travel, WHO recommends that countries assess the epidemiological situation to determine whether maintaining restrictions outweighs the economic costs of reopening borders if, for instance, there is widespread transmission of the virus. It is also crucial to determine whether the health system can cope with a spike in imported cases and whether the surveillance and contact tracing system can reliably detect and monitor cases.

It is important that countries have systems in place at points of entry including airports. Comprehensive entry and exit screening should be considered based on risk assessment and cost-benefit analysis, and as part of the overall national response strategy. Such screening may target, as a priority, direct flights from areas with community transmission. In addition, observance of preventive measures such as personal hygiene, cough etiquette, physical distancing remains crucial. Passengers should be registered and followed up, and if they develop symptoms be advised to inform health authorities.

“The resumption of commercial flights in Africa will facilitate the delivery of crucial supplies such as testing kits, personal protective equipment and other essential health commodities to areas which need them most,” Dr Moeti said. “It will also ensure that experts, who can support the response can finally get on the ground and work.”

The impact of COVID-19 on airlines is likely to be severe. African airlines could lose US$ 6 billion of passenger revenue compared to 2019 and job losses in aviation and related industries could grow to 3.1 million, half of the region’s 6.2 million aviation-related employment, according to the International Air Transport Association.

In the worst-case scenario, international air traffic in Africa could see a 69% drop in international traffic capacity and 59% decline in domestic capacity, according to an analysis by the International Civil Aviation Organization.

Together with the World Economic Forum, WHO held a virtual press conference on Friday with Dr Moeti, Dr Amani Abou-Zeid, Commissioner for Infrastructure and Energy at the African Union Commission and Prosper Zo’o Minto’o, Regional Director, Western and Central African Office, International Civil Aviation Organization.

The FBI’s public announcement declaring six Nigerians wanted in the United States for electronic fraud may have become a case of witch-hunting after discovery that 73 men from other countries are also on FBI’s Cyber most wanted list, but their citizenship has not been publicly paraded.

On Friday, US law enforcement agency, FBI announced that it is looking for information on six Nigerian citizens wanted for their involvement in ​Business​ Email ​Compromise (BEC) schemes resulting in over $6 ​million in losses.

Earlier, the FBI had released a report detailing the offences of the six Nigerians, and two other countrymen who have already been apprehended.

According to the FBI, one of them, Adewale Aniyeloye was sentenced in the District of Nebraska to 96 months’ imprisonment for wire fraud. The second, Onome Ijomone received a 60-month sentence for conspiracy to commit wire fraud in the same court.

But the six others are at large. They are Richard Uzuh; Micheal Olorunyomi; Alex Ogunshakin; Felix Okpoh; Abiola Kayode and Nnamdi Benson.

The indictments covering them were unsealed Tuesday by Attorney Joe Kelly and Kristi K. Johnson, Special Agent in Charge of the Omaha field office of the Federal Bureau of Investigation. The indictments charge them with involvement in Business Email Compromise (BEC) schemes. The schemes included individual victims and victim businesses both in Nebraska and other states.

However, on taking a look at the FBI’s Cyber most wanted list, Today’s Echo’s correspondent discovered that the list also contains 16 Russians, 20 Chinese, and 37 men of Arabic origin. This has led to questions concerning how only six Nigerians would be singled out of a list containing 79 people.

Nigerians believe they are now being targeted for witch-hunting due to the worsening image of the country as the origin of massive electronic frauds across the world. But what if people from other countries are as guilty as Nigerians in perpetrating these crimes but have not come under as much scrutiny?

When asked if he thought the singling out of the six Nigerians was witch-hunting, a Nigerian told Today’s Echo, “Certainly! Why choose to use Nigerians as the poster boys when there are individuals of other nationalities in the list? It appears that they are deliberately pushing the narrative of Nigerians being fraudsters.”

A Twitter user with the handle, Tosin Olugbenga, calls it ‘Racism at its peak.”

“This list has 39 men of Arab origin, 16 Russians, 20 Chinese/Southeast Asian guys, and 6 Nigerians. But racist FBI has chosen the only 6 Nigerians as the poster boys for this crime. Criminals are in every nation of the world but the moment you are black….”

The recent strings of high-profile electronic fraud cases involving Nigerian citizens has led to a significant dent in the image of Nigeria and its citizens and may have prompted the profiling of Nigerians in connection to those crimes.

One of the biggest international electronic fraud syndicate bursts was reported when Dubai police, at the behest of the FBI and INTERPOL, arrested Nigerian socialite, Hushpuppi and members of his crew two weeks ago. Dubai police Force said that the gang had stolen up to 1.6 billion Dirham (N168 billion), through various kinds of electronic fraud.

No fewer than 1,926,400 people from different parts of the world were also said to have fallen victims to the suspects. Also, 13 luxury cars, estimated at 35 million Dirham (N3.7 billion) were recovered from the house where they were arrested.

In August 2019, the FBI arrested a Nigerian business tycoon, Obinwanne Okeke over an alleged conspiracy to commit fraud running into the sum of 12 million dollars. Okeke, known as Invictus Obi is a prominent young business tycoon that has once been listed by Forbes as one of Africa’s 100 most influential youths.

Following Invictus Obi’s arrest, the FBI unveiled a list of 80 Nigerians indicted in a massive fraud, targeted at American individuals and companies. According to the FBI, the defendants allegedly laundered the funds through a Los Angeles-based money laundering network. Some of the names on the list were found out to be people with links to influential people, including politicians in Nigeria.

Ismaila Mustapha, also known as Mompha, a Bureau de Change operator with a flamboyant lifestyle that appeals to young Nigerians, was intercepted by law enforcement officials in November 2019 while on a trip to Abuja, Nigeria. A 14-count charge of laundering N33 billion was immediately slammed on him. The Economic and Financial Crimes Commission, EFCC alleged that Mompha laundered the funds through a firm, Ismalob Global Investment Ltd, between 2015 and 2018. Mompha was eventually released.

While electronic fraud continues to be popular in Nigeria with many suspected fraudsters living flamboyant lifestyles and celebrated on the streets, it is instructive to note that the menace is causing enormous damage to Nigeria’s social psyche and destroying opportunities for its citizens.

In this article, published by Project Syndicate, Nigeria’s nominee to head the World Trade Organization, Ngozi Okonjo-Iweala, argues that the WTO has an irreplaceable role to play in transforming countries’ economic prospects and the lives of people around the world. Although the COVID-19 crisis has brought the organization’s deteriorating health into sharp focus, its further decline is not inevitable.

SWITZERLAND, JUNE 22 – The World Trade Organization is in the news mostly for the wrong reasons nowadays. Many people regard it as an ineffective policeman of an outdated rulebook that is unsuited for the challenges of the twenty-first-century global economy. And WTO members generally agree that the organization urgently needs reforming in order to remain relevant.

Recent months have brought further challenges. The WTO’s appellate body, which adjudicates trade disputes among member countries, effectively ceased functioning last December amid disagreements regarding the appointment of new judges to the panel. And in May 2020, Director-General Roberto Azevêdo announced that he would step down at the end of August, a year before his current term was due to end.

Whoever Azevêdo’s successor is will face a major challenge. Since its establishment in 1995, the WTO has failed to conclude a single trade-negotiation round of global trade talks, thus missing an opportunity to deliver mutual benefits for its members. The Doha Development Round, which began in November 2001, was supposed to be concluded by January 2005.

Fifteen years later, WTO members are still debating whether the Doha process should continue. Some think it has been overtaken by events, while others want to pursue further negotiations.

The WTO has so far delivered disappointingly few other notable agreements as well, apart from the Trade Facilitation Agreement, which entered into force in February 2017, and the 2015 decision to eliminate all forms of agricultural export subsidies. Meanwhile, some of its members have worked together on a raft of much broader regional trade deals that cover pressing issues such as the digital economy, investment, competition, the environment, and climate change.

The Doha Development Round, which was intended to modernize the WTO’s rulebook, covers very few of these topics. And even some of the organization’s existing rules can easily be circumvented, thereby upsetting the balance of rights and obligations among members. During the current COVID-19 crisis, for example, some countries have imposed questionable export controls on medical supplies and food products in order to mitigate shortages.

But despite these challenges, the WTO has not been a “failure.” Rather, it has built upon the successes of its predecessor, the General Agreement on Tariffs and Trade, which entered into force in 1948. The rules-based multilateral trading system that began with GATT has contributed immensely to global economic growth over the last seven decades, by reducing average tariffs and steadily eliminating non-tariff barriers.

As a result, living standards have improved in most countries. Moreover, rules-based global trade has helped to underpin peace and security, because trading partners are more likely to resolve differences through negotiations than through armed conflict.1

Nonetheless, WTO members today recognize the need to reboot the organization for the twenty-first century. Developed countries believe that they have shouldered the burden of trade liberalization for far too long, and that developing countries should shoulder more obligations if they are in a position to do so. Least-developed and low-income developing countries, meanwhile, say that WTO rules are hampering their efforts to grow and modernize their economies.

Over the last two decades, international trade has become a bogeyman for critics who blame it for the economic woes some countries face. But trade is not a zero-sum game: rights and obligations can be balanced, as the evolution of global and regional trading rules since 1948 has shown. The question facing the WTO and its members now, therefore, is how to make progress and reach mutually beneficial agreements.

All members should participate in this endeavor, because that is the only way the organization can regain its credibility and carry out its rule-making function. New negotiations must therefore take account of members’ varying levels of economic development, and aim – as ever – to reach fair and equitable agreements. Other crucial priorities for the WTO include enhanced transparency, in the form of timely notifications of countries’ trade measures, and an effective dispute-settlement system that commands the confidence of all members.

Culled from: https://www.project-syndicate.org/commentary/reviving-the-world-trade-organization-by-ngozi-okonjo-iweala-2020-06

A former Finance Minister of Nigeria, Ngozi Okonjo-Iweala is the Chairman of Gavi the Vaccine Alliance, special envoy of the World Health Organization on COVID-19, and a board member of Twitter.

As night falls in Agege, a densely populated area of Lagos known for its slums and gangs, street activities continue as usual, despite increasing cases of COVID-19. The street bars remain open here, despite a strict ban imposed by government on night clubs and bars. Suddenly, there is commotion as a group of teenage boys began to celebrate. One of them, a fifteen-year-old, has just received 300 dollars from a ‘Client’.

For those not familiar with Nigerian street language, Client is another word for ‘Maga’, the name Nigerian electronic fraudsters known as Yahoo boys, call their victims.

The boy who had received the money became a hero instantly.

“Hushpuppi!” his friends called, lifting him in the air.

The real Hushpuppi is not likely to get excited by 300 dollars. Known for his flagrant display of an ostentatious lifestyle via social media, Hushpuppi has become a mentor to Nigeria’s new generation of youths seeking quick money in a country with one of the highest unemployment rates in the world.

A few days ago, Hushpuppi and some friends were arrested at a hotel in Dubai. Although unconfirmed, there are reports that he was arrested in connection with COVID-19-related fraud in the United States. Today’s Echo had reported last month that over 100 million dollars of COVID-19 unemployment benefits had been stolen by a Nigerian scam syndicate from Washington State in the US. Media sources say the arrest was the culmination of several weeks of investigation involving collaboration among different law enforcement agencies including the FBI, INTERPOL, and Dubai Police.

When Today’s Echo contacted INTERPOL’s international headquarters, the organization said it does not make arrests but investigates and reports to relevant law enforcement agencies in various countries, referring us to Dubai Police. The incidence has however, been confirmed by INTERPOL’s Nigerian office.

From the onset, Hushpuppi had been a somewhat enigmatic character. Although there has been no proof, many Nigerians suspected his wealth may not have been acquired through legal means, but they loved him, nonetheless. Despite his apparent affluence, it was hard to trace a commensurate source of revenue. Once when he was asked what he did for a living, he said he was an internet beggar. At some other time, he said he is an ambassador for Gucci. Even after arrest, his real name remains a mystery with different versions touted in the media including Raymond Igbalodely, Ramoni Abbas, and Ramoni Igbalode.

Hushpuppi’s arrest has generated a lot of attention in the social media as Nigerians discuss the increasingly popular notion among Nigerian youths that money has to be obtained by any means.

Like the teenage boy from Agege, several young Nigerians have looked up to Hushpuppi and other so-called big boys who flaunt incredibly flamboyant lifestyle despite widespread poverty in the country. They drive fast cars, wear designer labels, fly first class and hang out with the sexiest girls. It is easy to see why, in a community like Agege which has been abandoned by the government, these figures will be seen as mentors.

A String of Arrests
Hushpuppi is not the first Nigerian ‘big boy’ to be arrested and will likely not be the last. In the past one year, many rich, influential young men of Nigerian origin have been arrested by foreign crime agencies in connection with fraud.

In August 2019, the FBI arrested a Nigerian business tycoon, Obinwanne Okeke over an alleged conspiracy to commit fraud running into the sum of 12 million dollars. Okeke, known as Invictus Obi is a prominent young business tycoon that has once been listed by Forbes as one of Africa’s 100 most influential youths.

Obi had previously been seen as a shiny example of the Nigerian youth; suave, rich, and engaged in meaningful business. He was nominated for the All African Business Leaders Award for Young Business Leader (West Africa), the most prestigious award for African businessmen/entrepreneurs in the region. He had also been praised by some of the most influential people in Nigeria, including former vice president and opposition leader, Atiku Abubakar. His arrest sent ripples of shock through the Nigerian society. Thought to be a legitimate business tycoon, Obi’s arrest exposed him as a suspected secret internet fraudster, or ‘Yahoo Boy’ as the Nigerians call it.

Following Invictus Obi’s arrest, the FBI unveiled a list of 80 Nigerians indicted in a massive fraud, targeted at American individuals and companies. According to the FBI, the defendants allegedly laundered the funds through a Los Angeles-based money laundering network. Some of the names on the list were found out to be people with links to influential people, including politicians in Nigeria.

Invictus Obi’s arrest was not as shocking as that of Hushpuppi’s friend, Ismaila Mustapha, also known as Mompha, but no less intriguing. Mompha, a Bureau de Change operator with a flamboyant lifestyle that appeals to young Nigerians, was intercepted by law enforcement officials in November 2019 while on a trip to Abuja, Nigeria. A 14-count charge of laundering N33 billion was immediately slammed on him. The Economic and Financial Crimes Commission, EFCC alleged that Mompha laundered the funds through a firm, Ismalob Global Investment Ltd, between 2015 and 2018.

Read more: https://www.todaysecho.com/lifestyle/te-editorial-hushpuppi-poverty-and-the-allure-of-fast-money-in-nigeria/

SWITZERLAND, MAY 27- A Twitter user with over 6.1 million followers has accused the United States president, Donald Trump of murdering his personal assistant Carolyn Gombell 20 years ago, Today’s Echo has gathered.

According to the accuser whose twitter handle is @TheTweetOfGod, in October 2000 Donald Trump allegedly strangled his assistant because he got her pregnant and she threatened to go public with the news. At this point Donald Trump became enraged and strangled her according to the rumor. The person who revealed the information says Donald Trump bribed NYPD Police Chief Bernie Kierik to cover up his crime. Now # JusticeForCarolyn is viral on social media.

According to the accuser, Carolyn Gombell’s mother has AN AUDIO RECORDING of her daughter the night before she was killed saying, “If something happens to me it was Donald.”

He also said that orensics at first tentatively matched the residual thumbprints found on Carolyn’s neck as ‘matching’ Trump’s own (small) hands, but that finding was later amended and officially ruled ‘inconclusive’.

“By the way, it’s also interesting that Carolyn’s New York roommate Michelle White ‘committed suicide’ by jumping in front of a subway train NOT TWO WEEKS LATER,” the accuser added.

Take a look at the tweets below that tell the story behind the alleged murder of Donald Trump’s assistant Carolyn Gombel:

SWITZERLAND, MAY 25 – The Coronavirus seems to have finally dealt a much awaited massive blow to the world’s Aviation industry as several airlines go bankrupt across the world and many others carry out a mass retrenchment of workers.

The COVID-19 pandemic has hit the aviation industry with an unprecedented ferocity as air travel becomes reduced to the barest minimum, leading to low patronage for the past three months. The worst hit are the international airlines carrying passengers from one country to another. With the aviation industry in turmoil, Today’s Echo gathers that many airlines have laid off thousands of workers, a development that has further highlighted the tragic consequences of the COVID-19 Pandemic.

In this report, Today’s Echo examines some of the airlines severely affected in this tragedy.

Read full report:

https://www.todaysecho.com/business/bankruptcy-massive-sack-hit-airlines-across-the-world-as-covid-19-strikes-at-the-aviation-industry/

SWITZERLAND, MAY 08 – Despite a boost in production from its Eland oil acquisition, Nigerian indigenous London Stock Exchange listed oil and gas giant, Seplat, is bracing for hard times as a combination of falling oil prices due to COVID-19, asset exposure to risk and a high debt burden from the acquisition has led to its downgrade by credit rating agencies.

Some analysts predict Seplat is set for its steepest revenue decline in seven years whilst others are confident of its rebound.

How Seplat Bought Eland Oil in a Landmark £382mn (N174bn) Deal
In October 2019, Seplat announced that it had reached an acquisition agreement with Eland oil, based in Aberdeen, Scotland. The acquisition cost Seplat a total of £382 million (N174bn), financed through a combination of existing cash resources of Seplat and a new loan facility.

According to Offshore Technology, Eland had two operations in Nigeria that Seplat were interested in. It had a 45% equity stake Oil Mining Lease (OML) 40 in the Niger Delta, which produced an average of 8,000 barrels of oil per day in 2018 and a 40% stake in the Ubima discovery well in Rivers State.

Seplat was elated by its newfound jewel. CEO of Seplat, Austin Avuru said in October when the deal was being finalized:

“We are delighted to successfully complete the acquisition of Eland, which further enhances Seplat’s footprint in Nigeria and provides opportunities for enhanced scale, diversification and growth.

“We welcome our new colleagues and Nigerian partners as we look forward to working together in this exciting phase of our development.”

By December 2019, the deal was already completed. The Eland acquisition reportedly boosted Seplat’s production capacity by 10,000 bpd, bringing its total daily production to about 72,000 barrels. Furthermore, Eland and Seplat use the same Forcados export terminal, and transport their oil through the Trans-Forcados pipeline. This was expected to bring costs for Seplat down.

Following the announcement of the deal, Seplat’s stock price rose by 1.75% on the London Stock Exchange from 114pence to 116pence a share.

Everyone seemed happy. Even the analysts thought it was a good idea.

Janet Ogunkoya, Research Analyst at ARM said:

“We think it’s a good acquisition. The big positive that comes for Seplat in this is the addition to their production capacity.”

Vetiva Capital analyst Luke Ofojebe, added in an interview, “For Seplat, the move will boost the company’s production with Eland set for “significant growth by mid-2020”.

Austin Avuru remarked: “This combination will give us growth and increased profitability. Eland is an excellent fit for Seplat.”

Emerging Troubles
They were wrong. Five months down the line, Seplat’s revenue is dwindling and its credit rating is being downgraded, indicating that it might not be able to fulfil its obligations to its creditors.

A credit rating is an estimate of the ability of a person or organization to fulfil their financial commitments, based on previous dealings. The Credit rating agency rates a debtor’s ability to pay back debt by making timely principal and interest payments and the likelihood of default.

In December 2019, Moody’s downgraded the credit rating of Seplat three other Nigerian companies. Seplat became a B2 CFR company, reflecting a high credit risk.

According to Moody’s the company’s ratings also factor in a requirement that proceeds from the sales of oil and gas have to pass through the Nigerian banking system for 24 hours before they are allowed to be moved offshore.

Moody added that future laws and regulations that could accelerate the pace of energy transition or changes in technology that affect demand for hydrocarbons represent a material and growing risk for Seplat.

Things would soon get worse. In a new report in April 2020 that downgraded the oil stock in Nigeria, analysts at Lagos-based Chapel Hill Denham said Seplat could suffer its steepest revenue decline in seven years. The analysts now see Seplat revenue declining by 27.7% to $504.38mn.

Today’s Echo gathers that this is due to the effect of the COVID-19 outbreak on the oil economy. The lockdowns enforced by the fuel-consuming industrialized economies has resulted in factory shutdowns, low volume of transportation and aviation paralysis. The resultant low demand for oil and the price war between two oil producers, Russia and Saudi Arabia has driven oil prices to its lowest in two decades, severely impacting oil producers like Seplat. However, an Investor Relations analyst who craves anonymity argues that Seplat will weather the storm: “ It is rather unfortunate to attribute the Seplat’s momentary setback to the acquisition of Eland, this is just a challenging period for the industry as a whole. All oil and gas companies are in the same financial dire straits at this time, did they all buy Eland? We believe that Seplat, with its usual characteristic resilience, will bounce back even stronger before most of its peers.”

Coping With Heavy Debt Burden and Low Revenue

However, some other analysts insists that the large debt component of Seplat’s financing for the Eland acquisition has also contributed to its downgrading.

On 10 December 2019, Seplat entered into an amended and restated US$350 million revolving credit facility, facilitated by its financial adviser, Citigroup. According to Investopedia, a revolving loan facility is a form of credit issued by a financial institution that provides the borrower with the ability to draw down or withdraw, repay, and withdraw again. A revolving loan is considered a flexible financing tool due to its repayment and re-borrowing accommodations.

It is pertinent to note that this revolving loan constitutes 74.1 percent of the acquisition cost. This means over 74 percent of the acquisition cost came from debt.

“Seplat is just unfortunate to be having a low cash to debt ratio at a time when they needed cash the most,” another source told Today’s Echo

“This was one of the strongest companies in Nigeria and probably the most stable indigenous oil company. It would be a tragedy if it is allowed to fall due to the coronavirus outbreak,” he added.

However, Seplat has said its low production cost and flexible debt position gives it the leeway to overcome the current crisis, as it intends to spend as much as $100 million of capital expenditure.

Seplat CEO Austin Avuru said the company would draw from its experience with a similar crisis to surmount headwinds in a challenging phase for the global economy induced by the COVID-19 pandemic and short-term oil oversupply due to demand and supply shocks.

“Seplat will benefit from being a resilient company built on the solid foundations of prudent financial management and the careful mitigation of risk,” he said. “We are a low-cost producer and will continue to manage our finances prudently.”

https://www.todaysecho.com/business/te-exclusive-how-seplat-got-downgraded-after-eland-acquisition/

Washington state in the United States of America lost “hundreds of millions of dollars” to a Nigerian fraud ring which used stolen information to file false unemployment claims, Today’s Echo has gathered.

Impostors have used the stolen information of tens of thousands of people in Washington to fraudulently receive hundreds of millions of dollars in unemployment benefits, the head of the state’s Employment Security Department said Thursday.

Commissioner Suzi LeVine said the state is working with federal law enforcement, financial institutions and the U.S. Department of Labor to investigate the fraud and try to recover the money paid out during the huge spike in joblessness during the coronavirus crisis.

LeVine said she can’t release specific numbers or details of the ongoing investigation. But she said that countermeasures taken by the state have “prevented hundreds of millions of additional dollars from going out to criminals and have prevented thousands of fraudulent claims being filed.”

LeVine said that in addition to other measures the agency has already taken, they will continue to delay payments — a step they first took last week — to all applicants in order to take extra steps to verify claims. Previously, applicants set up for direct deposit receive their money within 24 to 48 hours. Now, they will need to wait an additional two days.

The New York Times and Seattle Times have previously reported that a U.S. Secret Service alert issued last week identified Washington as the top target so far of a Nigerian fraud ring seeking to commit large-scale fraud against state unemployment insurance programs. LeVine said she couldn’t speak to the details of the investigation, but said that the Secret Service alert wasn’t directly shared with her, but that the agency received it through other sources.

But LeVine said agency officials realized something was amiss before that alert, once they started receiving communication from employers or employees who received information about unemployment benefits that the employee didn’t seek.

More than 1.1 million people in Washington have filed for unemployment benefits since businesses started closing in March due to COVID-19, but state officials said Thursday they believe some portion of an increase in claims seen in the past week are due to so-called “impostor fraud” claims.

LeVine said previously that there have been no data breaches at the agency, and that recent fraud attempts are cases where someone’s personal information has been previously stolen from other sources — like during the 2017 Equifax breach — and is now being used to filed for benefits.

“These are very sophisticated criminals who have pretty robust collections of information on people, and they are activating and monetizing that information,” she said.

More than 1.6 million claims for unemployment benefits — with some of that number reflecting people who filed multiple claims — were filed for the week of May 10-16, and more than $1 billion was paid last week to 565,764 individual claims. To date, the state has paid out nearly $3.8 billion in benefits to more than 768,000 people, including federal money that is providing the unemployed with an additional $600 per week on top of the state’s weekly maximum benefit of up to $790 per week.

Levine noted that Washington’s state’s weekly maximum benefit — the second highest in the nation — plus the additional federal weekly money “does make us a more attractive target overall.”

Washington’s stay-at-home order — in place since March 23 — has been extended through at least May 31. The state’s unemployment rate has jumped to a record 15.4% last month and the state’s economy lost 527,000 jobs last month. LeVine said that a jump in new unemployment benefit claims last week — long after most business closures occurred — point to additional fraud attempts across various industries.

“It is a broad spectrum of employers in both the public and the private sector who have had this impacting their employees,” LeVine said.

Over the past two months, nearly 39 people nationwide have filed for unemployment aid due to the economic impacts of the coronavirus.

Gov. Jay Inslee announced a four-stage reopening plan earlier this month, and has allowed counties with fewer new cases to apply to jump ahead to the second stage, which allows some businesses to reopen, including dine-in restaurants at half capacity. Ten counties have already been approved, and Inslee announced Tuesday that 10 more counties are now eligible to apply.

More than 19,115 people in Washington state have tested positive for the coronavirus, and at least 1,044 have died. The virus causes mild to moderate symptoms in most patients, and the vast majority recover. But it is highly contagious and can cause severe illness and death in some patients, particularly the elderly and those with underlying health conditions.

As the world grapples with the COVID-19 pandemic, the race for a therapeutic solution has intensified with many recommendations from various corners. Scientists have considered a number of substances that can potentially treat the sickness with the most popular ones being Chloroquine and Remdesivir. In Nigeria, a number of people have touted various herbal products as potential remedies. Many of these claims have been denounced as unscientific and distractive.

In Madagascar, another African country, herbal drink made from the Artemisia Annua plant has been endorsed by the government as a COVID-19 remedy. Initially the medical community had largely denounced this COVID Organic as fake, unproven, and untested.

However, there is a renewed interest in potential herbal remedies after Today’s Echo reported that the World Health Organization (WHO) is considering Madagascar’s herbal product as a potential treatment if subjected to scientific examination.

In a statement released a few days ago, the global health body said,

“WHO recognizes that traditional, complementary and alternative medicine has many benefits and Africa has a long history of traditional medicine and practitioners that play an important role in providing care to populations. Medicinal plants such as Artemisia annua are being considered as possible treatments for COVID-19 and should be tested for efficacy and adverse side effects.

“Africans deserve to use medicines tested to the same standards as people in the rest of the world. Even if therapies are derived from traditional practice and natural, establishing their efficacy and safety through rigorous clinical trials is critical.”

Today’s Echo examines five sources of potential herbal remedies for COVID-19 in Nigeria:

Read more: https://www.todaysecho.com/lifestyle/race-to-covid-19-cure-nigeria-jumps-in-with-5-possible-herbal-remedies/

SWITZERLAND, MAY 07 – A member of Nigeria’s Economic Advisory Council (EAC) and MD/CEO of Financial Derivatives Co., Bismack Rewane, has postulated that the worst case scenario of the Covid-19 pandemic using a “simple regression” could have Nigeria witnessing a toll of 314,624 deaths if safety directives are not adhered to in a disciplined manner.

As a background to his presentation at a webinar organised by the CWC group dubbed “Strategies to Navigate Nigeria’s Oil and Gas Business through the Global Pandemic” monitored by Today’s Echo yesterday, Rewane stated that a moderate outbreak will see about 99, 300 likely infections with 6,647 likely fatalities, while a severe outbreak will lead to 4.7 million likely infections with 314, 624 fatalities overtaking malaria which kills about 300,000 Nigerians annually. His estimates are based on current trends in the country. Regression is a statistical method used to model future data by analysing the relationship with existing variables.

The renowned economist, who moderated the panel, also disclosed that the incremental impact on some sectors will be harsh. According to him, some of the most “lockdown sensitive” sectors are aviation, hospitality, trading, catering, brewing, and real estate. While transportation, entertainment, crude petroleum, health insurance, and PFA will be moderately affected.

However, the sectors that stand to benefit from the lifestyle changes occasioned by the pandemic include telecoms, information technology, e-commerce, electronic payments, mining and quarrying, distribution and storage, healthcare, pharmaceuticals, and oil & gas upstream.

Other notable speakers at the webinar include Seyi Bella, Partner, Banwo and Ighodalo, Ainojie Alex Irune, Chief Operating Officer, Oando Energy Resources, Oluwatoyin Aina, Group Head – Energy, Downstream & International Oil Trading, First Bank of Nigeria, and Ade Adeola, Managing Director – Energy & Natural Resources, Standard Chartered Bank PLC.

This is coming at a time Nigerians are worried about recent mysterious deaths in the country, especially in Kano and Jigawa states in the North. It has been difficult to ascertain the total number killed by coronavirus in the country, because of low testing capacity.

Presently, there are more than 3.7 million COVID-19 cases around the world. More than 1.2 million of them have recovered, representing 33.2 percent recovery rate. With nearly 258,000 deaths, global death rate currently stands at 6.9 percent. There are currently more than 2.2 million active cases around the world.

Since the first case of the coronavirus was announced on 27 February 2020, the Nigeria Centre for Disease Control (NCDC) has reported a total of 3,145 cases of Covid-19 in the country. The total number of COVID-19 fatalities currently stands at 103.

These figures will likely increase as many Nigerians have been observed flouting the physical (social) distancing guidelines as the federal government began gradual relaxation of the lockdown in Abuja, Lagos, and Ogun states this week.The weak capacity of Nigerian’s health care systems is likely to exacerbate the pandemic and its impact on the economy.

https://www.todaysecho.com/lifestyle/covid-19-worst-case-scenario-may-see-314000-deaths-in-nigeria-rewane/

The coronavirus (COVID-19) pandemic has exposed how interconnected the world is and has constrained mankind to discard some of its most fundamental habits. Businesses, churches and schools are closed, economies of once vibrant countries have nosedived, and the fabric of community socialization has been torn apart as we are all compelled to become distant to the people and things we love.

Although, there is still a lot we do not understand about this virus, including the final price mankind will pay in this battle with an unseen enemy, what is certain is that the world will never remain the same. Several things are going to change going forward. Some of the decisions being made by authorities and communities around the world today will lead to permanent changes and some of our most common and acceptable habits will be gone forever. Already, scientists are saying that people should never shake hands again, post COVID-19. Several companies are discovering that what they used to achieve with endless physical meetings in big office spaces can actually be achieved through technology by people staying miles away from one another.

There is already an argument against city densification, which was the ideal model for urbanization, because scientists had argued that when people stay close together, they conserve energy. Now, scientists, authorities and city planners may be having a rethink because COVID-19 is telling us to do exactly opposite that. The potential move towards de-densification may also lead to a radical change in economic structures. There are so many other ways life is going to change including the increasing importance of digital technology and the reduced importance of privacy. The longer the pandemic, the more far-reaching these changes will be.

For many believers in conspiracy theories, the COVID-19(coronavirus) pandemic is a sign that the world is coming to an end. A certain character who is vocal in providing solutions to the pandemic has even been labelled the antichrist. They are right; the world as we know it is coming to an end. But they are also wrong because this is not the first time the world has ended.

The current death toll of less than 300,000 pales in comparison to historical estimates of the cost of the Spanish Flu pandemic (1917-1920), which allegedly took up to 50 million lives. For many of those living in Europe or America in this period, that was the end of the world. And yes, the Spanish Flu did change the world. According to an article in the BBC, the flu spurred the development of public health systems across the developed world, as scientists and governments realised pandemics would spread more quickly. The Spanish Flu taught the world some of the techniques with which it is currently fighting the coronavirus.

Perhaps, the staggering death toll from the Spanish Flu makes us think it is the biggest pandemic in history. Wrong. About six centuries earlier, the Black Death ravaged Europe and Asia over the course of decades, decimating up to 200 million people (Up to one-third of the world’s population at that time), according to historians. I believe Europeans in those terrible times must have thought the world was coming to an end.

It is not only pandemics that have ended the world order in history, wars also have. The Second World War from 1939 to 1945 caused the death of over 55 million people, reduced great cities to rubbles and brought about enduring changes to international economic and political systems. According to the Guardian, 1945 was different, so different that it has been called Year Zero.

As nations across the world battled Adolf Hitler’s Nazi minions in Europe and the Japanese empire’s desperate expansionism in Asia, many people must have thought the world was coming to an end as they witnessed unprecedented suffering. Many must have thought Hitler was the antichrist. Terms like ‘Displaced Persons’, ‘Genocide’ and ‘Holocaust’ emerged during the war as millions lost their homes and the Nazis murdered over 6 million Jews. The suffering of the Jews led to the creation of the Israeli State in the Middle East in 1948.

Many of the great international institutions we have today, including the United Nations, World Bank, International Court of Justice and International Monetary Fund (IMF) were created right after to war to prevent another conflict of that scale in the future. Also, the United States and the Soviet Union emerged as the two superpowers of the new world, even as the influence of the great colonial powers of Europe dwindled. The war also fast-tracked technological development as warring parties sought advantage over each other. The world discovered Nuclear Energy with the development of the atomic bomb, which eventually ended the war.

Indeed, the Second World War was the end of a world and the beginning of another. Yet it was not the first time that war had changed the world order. The Mongol conquests which took place during the 13th century has been described as one of the deadliest episodes in history, killing over 5 per cent of the world’s population at that time. Originating from Central Asia in the early 1200s, the Mongol empire conquered much of Asia, Europe, and the Middle East, killing millions of people and inducing population displacement on a scale never seen before. If I was living in China in the 13th century, I would certainly have believed the Mongols have brought about the end of the world. Several other catastrophic events have shaped the history of mankind. These include the Plague of Justinian in the 5th century AD, the Crusades of the 10th-12th centuries, the French Revolution and the Napoleonic wars of the 19th century. All these catastrophic events have marked the end of an era and brought about the beginning of another.

As the world battles against the coronavirus, let us be rest assured that, just as all the other catastrophic events had passed, this one also will. Nevertheless, we should ensure we survive to become partakers in the new world that will emerge, post-COVID-19. Not only that, we need to position ourselves right now to emerge on the right side when the pandemic is over. Like an analyst recently asked on TV, COVID-19 will not last, but will you?