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Nigeria to Implement IOPC Fund

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  • Nigeria to Implement IOPC Fund

The Federal Government has expressed her commitment to the implementation of the 1992 International Civil Liability Convention and the 1992 International Oil Pollution Compensation (IOPC) Fund.

IOPC FundThe international compensation regime as developed under the auspices of the International Maritime Organisation (IMO) comprise of two main conventions. They are the 1992 International Civil Liability convention and the 1992 International Oil Pollution Compensation (IOPC) Fund.

It is on record that Nigeria has ratified both conventions and she is expected to pursue its effective implementation in her maritime domain.

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside said this at the 7th meeting of the National Standing Committee (NSC) on the implementation of the IOPC Fund and related conventions in in Abuja.

Peterside who was represented by the agency Director Abuja Zonal office, Mr. Ali Indabawa assured stakeholders that the agency is committed to the adequate implementation of the IOPC Fund and related conventions for the benefit of dwellers of coastal communities and the preservation of the marine environment.

“The Nigerian Maritime Administration and Safety Agency is working hard to ensure that our marine environment is free from all sorts of pollution. This entails preventing and controlling pollution from all sources such as ship based and land based sources”, he said.

According to him, the IMO has developed this compensation regime which helps victims of oil pollution damage to obtain compensation and for government to be reimbursed for cost of oil spill clean-up. Minister of Transportation, Right Hon. Rotimi Chibuike Amaechi who was represented by the Permanent Secretary in the ministry, Mr. Zakari Sabiu had earlier called on NIMASA and other relevant agencies to develop a strategic implementation plan in order to curb incidences of marine pollution and to effectively compensate victims when pollution occurs.

Sabiu who is also the Chairman of the National Standing Committee on the implementation of the IOPC and related conventions also urged members to work together to achieve the task ahead.

Besides her being the Chairperson, Chartered Institute of Arbitrators (United Kingdom) Nigeria and Managing Partner, Doyin Rhodes-Vivour & Co (Legal Practitioners and Arbitrators), the author is also a chartered arbitrator and a CEDR, United Kingdom accredited mediator. She holds the LLB [Hon] and LLM degrees in law from the University of Lagos and a masters of Arts degree [MA] with merit in International Peace and Security from King’s College London, University of London.

An awardee of the prestigious British Government Chevening Scholarship, she was nominated by the United States Information Services (USIS) to participate in the ‘Young African Leaders Programme’ in 1990 in recognition of her leadership qualities.

She is listed on various international and domestic Arbitration/ADR panels including the database of London Court of International Arbitration (LCIA), the database of LCIA-MIAC Arbitration Centre, Panel of the International Centre for Dispute Resolution (ICDR), Singapore International Arbitration Centre (SIAC), Dubai International Arbitration Centre (DIAC), Kigali International Arbitration Centre(KIAC), Kuala Lumpur and Lagos Regional Centres for International Commercial Centre, Panel of Neutrals of the Lagos Multi-door Court House and Abuja Multi-door Courthouse.

Rhodes-Vivour is listed in editions of the Global Arbitration Review (GAR) International Who’s Who of Commercial Arbitration, Who’s Who Legal and recognized as one of the world’s leading arbitrators. She is also listed in editions of Guide to the World’s Leading Commercial Arbitration Experts as a preeminent professional in the field of arbitration. Mrs. Adedoyin Rhodes-Vivour is described by Who is Who Legal as “second to none for her skill and versatile thinking”.

Nominated by Nigeria as a member of the Court of the Permanent Court of Arbitration (PCA) at The Hague, The Netherlands, Rhodes-Vivour is a member of the ICC Paris Commission on Arbitration and ADR, SIAC Users Council Africa Regional Committee, International Law Association (ILA) International Committee on International Commercial Arbitration headquartered in London and the pioneer Chair, Committee on International Commercial Arbitration of the International Law Association (ILA) Nigerian Branch.

She is also a member of the Executive Committee of the Nigerian Maritime Law Association, pioneer Board of Directors of the Lagos Court of Arbitration, pioneer Board of Governors, Lagos Chamber of Commerce International Arbitration Centre, Governing Council of the Nigerian Chamber of Shipping (NCS), Council of the Lagos Chamber of Commerce and Industry.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

Government

EFCC Declares Former Kogi Governor, Yahaya Bello, Wanted Over N80.2 Billion Money Laundering Allegations

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Yahaya Bello

The Economic and Financial Crimes Commission (EFCC) has escalated its pursuit of justice by declaring former Kogi State Governor, Yahaya Bello, wanted over alleged money laundering amounting to N80.2 billion.

In a first-of-its-kind action, the EFCC announced Bello’s wanted status in connection with the alleged embezzlement of funds during his tenure as governor.

The commission, armed with a 19-count criminal charge, accused Bello and his cohorts of conspiring to launder the hefty sum, which was purportedly diverted from state coffers for personal gain.

The declaration of Bello as a wanted fugitive came after a series of failed attempts by the EFCC to effect his arrest.

Despite an ex-parte order from Justice Emeka Nwite of the Federal High Court, Abuja, mandating the EFCC to apprehend and produce Bello in court for arraignment, the former governor managed to evade capture with the reported assistance of his successor, Governor Usman Ododo.

This latest development shows the challenges faced by law enforcement agencies in holding powerful individuals accountable for their actions.

However, it also demonstrates the unwavering commitment of the EFCC to uphold the rule of law and ensure that justice is served, irrespective of the status or influence of the accused.

In response to the EFCC’s declaration, the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, issued a stern warning to Bello, stating that fleeing from the law would not resolve the allegations against him.

Fagbemi urged Bello to honor the EFCC’s invitation and cooperate with the investigation process, saying it is important to uphold the rule of law and respect the authority of law enforcement agencies.

The EFCC’s pursuit of Bello underscores the agency’s mandate to combat corruption and financial crimes, sending a strong message that individuals implicated in corrupt practices will be held accountable for their actions.

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Government

Concerns Mount Over Security as National Identity Card Issuance Shifts to Banks

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NIMC enrolment

Amidst the National Identity Management Commission’s (NIMC) recent announcement that the issuance of the proposed new national identity card will be facilitated through applicants’ respective banks, concerns are escalating regarding the security implications of involving financial institutions in the distribution process.

The federal government, in collaboration with the Central Bank of Nigeria (CBN) and the Nigeria Inter-bank Settlement System (NIBSS), introduced a new identity card with payment functionality, aimed at streamlining access to social and financial services.

However, the decision to utilize banks as distribution channels has sparked apprehension among industry stakeholders.

Mr. Kayode Adegoke, Head of Corporate Communications at NIMC, clarified that applicants would request the card by providing their National Identification Number (NIN) through various channels, including online portals, NIMC offices, or their respective banks.

Adegoke emphasized that the new National ID Card would serve as a single, multipurpose card, encompassing payment functionality, government services, and travel documentation.

Despite NIMC’s assurances, concerns have been raised regarding the necessity and security implications of introducing a new identity card system when an operational one already exists.

Chief Deolu Ogunbanjo, President of the National Association of Telecoms Subscribers, questioned the rationale behind the new General Multipurpose Card (GMPC), citing NIMC’s existing mandate to issue such cards under Act No. 23 of 2007.

Ogunbanjo highlighted the successful implementation of MobileID by NIMC, which has provided identity verification for over 15 million individuals.

He expressed apprehension about integrating the new ID card with existing MobileID systems and raised concerns about data privacy and unauthorized duplication of ID cards.

Moreover, stakeholders are seeking clarification on the responsibilities for card blocking, replacement, and delivery in case of loss or theft, given the involvement of multiple parties, including banks, in the issuance process.

The shift towards utilizing banks for identity card issuance raises fundamental questions about data security, privacy, and the integrity of the identification process.

With financial institutions playing a pivotal role in distributing sensitive government documents, there are valid concerns about potential vulnerabilities and risks associated with this approach.

As the debate surrounding the security implications of the new national identity card continues to intensify, stakeholders are calling for greater transparency, accountability, and collaboration between government agencies and financial institutions to address these concerns effectively.

The paramount importance of safeguarding citizens’ personal information and ensuring the integrity of the identity verification process cannot be overstated, especially in an era of increasing digital interconnectedness and heightened cybersecurity threats.

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Government

Israeli President Declares Iran’s Actions a ‘Declaration of War’

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Israeli President Isaac Herzog has characterized the recent series of attacks from Iran as nothing short of a “declaration of war” against the State of Israel.

This proclamation comes amidst escalating tensions between the two nations, with Iran’s aggressive actions prompting serious concerns within Israel and the international community.

The sequence of events leading to Herzog’s grave assessment began with a barrage of 300 ballistic missiles and drones launched by Iran towards Israel over the weekend.

While the Israeli defense forces managed to intercept a significant portion of these projectiles, the sheer scale of the assault sent shockwaves through the region.

President Herzog’s assertion of war was underscored by Israel’s careful consideration of its response options and ongoing discussions with its global partners.

The gravity of the situation prompted the convening of the G7, where member nations reaffirmed their commitment to Israel’s security, recognizing the severity of Iran’s actions.

However, the United States, a key ally of Israel, took a nuanced stance. President Joe Biden conveyed to Israeli Prime Minister Benjamin Netanyahu that, given the limited casualties and damage resulting from the attacks, the US would not support retaliatory strikes against Iran.

This position, though strategic, reflects a delicate balancing act in maintaining stability in the volatile Middle East region.

Meanwhile, Russian Foreign Minister Sergei Lavrov and his Iranian counterpart Hossein Amir-Abdollahian cautioned against further escalation, emphasizing the potential for heightened tensions and provocative acts to exacerbate the situation.

In response to the escalating crisis, the Nigerian government issued a call for restraint, urging both Iran and Israel to prioritize peaceful resolution and diplomatic efforts to ease tensions.

This appeal reflects the broader international consensus on the need to prevent further escalation and mitigate the risk of a wider conflict in the Middle East.

As Israel grapples with the implications of Iran’s aggressive actions and weighs its response options, President Herzog reiterated Israel’s commitment to peace while emphasizing the need to defend its people.

Despite calls for restraint from global allies, Israel remains vigilant in safeguarding its security amidst the growing threat posed by Iran’s belligerent behavior.

The coming days are likely to be critical as Israel navigates the complexities of its response while international efforts intensify to defuse the escalating tensions between Iran and Israel.

The specter of war looms large, underscoring the urgency of diplomatic engagement and concerted efforts to prevent further escalation in the region.

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