Connect with us

Government

June 12, a History We Can’t Forget – Atiku, Tinubu

Published

on

asiwaju-bola-tinubu
  • June 12, a History We Can’t Forget

A former Vice-President, Atiku Abubakar, and a former Lagos State governor and All Progressives Congress national leader, Bola Tinubu, have described the June 12, 1993 elections as a part of Nigeria’s history that could not be forgotten.

This is just as the Lagos and Ekiti state governments on Sunday joined Oyo, Ondo, Ogun and Osun states to declare June 12 a public holiday.

In a statement issued by his Media Office in Abuja, on Sunday, Atiku said June 12 and the events that brought it “are part of our country’s history and cannot be forgotten, especially because of the unity and comradeship displayed by Nigerians on that Election Day in 1993.”

Atiku, who described the late Abiola as a businessman, philanthropist and patriot, noted that the events of June 12, 1993 remained a watershed in the history of the nation.

It partly read, “The Waziri commended Nigerians for moving beyond the challenges thrown up by June 12 and putting in place a democratic system of government that has lasted for 18 years.

“He said that it is a testimony to the innate democratic nature of Nigerians that today, democracy is flourishing in the country, adding that the restructuring of the country as being demanded by some well-meaning Nigerians would further consolidate democracy and give greater impetus to the unity and development of the country.

“According to him, restructuring of the country would lay a solid foundation for prosperity and self-reliant development across the country by introducing healthy competition among the constituent parts of the federation based on the principle of comparative advantage.”

The former Vice President described the late MKO Abiola as the leading personality of the June 12 struggle as a national “Hero and Patriot” deserving of accolades and honour by Nigerians.

He called on the Federal Government to pay the necessary tribute to the late chief Abiola of blessed memory by naming a befitting national institution after him.

Tinubu, in statement on Sunday to celebrate the 24th anniversary of June 12, said that without “the uncompromising resistance to military rule engendered by the annulment of the June 12 election, there would most probably be no 4th Republic today and we would still be groaning under military dictatorship.”

Tinubu described the late Abiola, the winner of the election, as an embodiment of “the eternal Yoruba adage, which says that death is better with honour than life without dignity.”

In the statement titled, ‘What June 12 Taught Us,’ Tinubu said, “The blood of those who gave their yesterday and sacrificed even their lives for the democracy and freedom we enjoy today was not shed in vain. The truth is June 12 is the mother of May 29.

“The annulment was a bitter pill to swallow, especially for the millions of people who expended so much time, energy and material resources to help ensure victory for Chief MKO Abiola. The late MKO selflessly committed so much of his substantial fortune towards ensuring his victory at the polls. In doing this, he was not motivated by personal, selfish or pecuniary considerations.

“Twenty-four years after its annulment, the spirit of June 12 lives on in the hearts and minds of millions of Nigerians.

“This year’s commemoration of the anniversary of June 12 coincides roughly with two years in office of the All Progressives Congress at the federal level. Some critics are already writing off the government as a failure. However, the vast majority of Nigerians are aware of the immense mess inherited by the President Muhammadu Buhari administration.”

Tinubu added that the APC Federal Government had successfully contained the challenges, and was turning the corner with “light discernible at the end of the tunnel.”

Also, in a statement by the Secretary to the Lagos State Government, Mr. Tunji Bello, on behalf of Governor Akinwunmi Ambode, the state government said it had perfected arrangement for the annual public symposium in Ikeja to celebrate June 12.

In a statement issued on Sunday in Ado Ekiti, Fayose – a member of the Peoples Democratic Party – said he took the decision to join his other colleagues in the South-West to celebrate the late Abiola in the spirit of the unity of the region

In a related development, the Speaker of the Lagos State House of Assembly, Mudashiru Obasa, said on Sunday that June 12 was the harbinger of peaceful, free and fair electoral process in Nigeria, adding, “It is thus worthy of celebration.”

Also, the Osun State House of Assembly has said the current Nigeria democracy must be protected with all diligence so as not to encourage the incursion of military rule in the country again.

A statement by the Chairman, House Committee on Information and Strategy, Olatunbosun Oyintiloye, on Sunday, to commemorate the June 12 struggle, said the change in the Nigeria political landscape was not a coincidence but a consequence of sacrifice made by courageous gladiators who led from the front to entrench democracy in Nigeria.

Meanwhile, a socio-cultural Yoruba group, Afenifere, on Sunday advocated the implementation of the last national conference as a way out of the challenges facing the country.

The group, in a statement its National Publicity Secretary, Yinka Odumakin, pointed out that all southerners were at the risk of attacks by northern youths following the quit order issued to Ndigbo.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Continue Reading
Comments

Government

Ukraine Strikes Russian Fuel Depot, Sparking Fires in Belgorod Region

Published

on

Russian Mercenaries

The governor of Russia’s southern Belgorod region said on Sunday Ukrainian forces attacked a fuel depot, triggering a series of fires after Moscow and Kyiv accused each other of launching overnight attacks on border regions.

“The Ukrainian military, aided by lethal drones, attacked a fuel storage site in Volokonovsky district,” Vyacheslav Gladkov wrote on Telegram, referring to an area near the border.

“Several reservoirs caught fire in an explosion. Firefighting crews are putting out the blaze.”

Gladkov also reported drone attacks on three other localities. There were no casualties reported in the incidents.

In the overnight air attacks, Ukrainian officials said two people died and four were injured in Sumy region. Gladkov reported three civilians were injured in Belgorod.

Two children were among those injured in Sumy, the military administration of the northeastern Ukrainian region said on Sunday on Telegram. Several homes and cars were damaged.

In Belgorod region, three civilians, including two children, were injured. Gladkov said two residential buildings were destroyed and more than 15 buildings in total were damaged.

The Russian defence ministry said it had destroyed one drone over Belgorod region and another over Kursk region, where Ukrainian forces launched a cross-border incursion last month. It said two drones were intercepted over Belgorod overnight.

Border regions on both sides have been subject to frequent attacks. Both Moscow and Kyiv deny targeting civilians, saying the attacks are aimed at destroying each other’s infrastructure critical to war efforts.

Thousands of civilians have died in the war, which Russia started with a full-scale invasion on Ukraine in February 2022. Millions of Ukrainians have also been displaced, while their cities and villages have become piles of rubble

Continue Reading

Government

Ghana Ordered to Pay $111.5M to Power Company After U.S. Court Ruling

Published

on

ghana

The government of Ghana has been ordered to pay $111.5 million to Ghana Power Generation Company (GPGC) following a ruling by a District of Columbia Court in the United States.

This ruling was granted in favor of GPGC after Ghana failed to respond to an earlier tribunal ruling from the United Kingdom, which found the country in breach of a power purchase agreement.

The court’s decision comes after Ghana terminated its contract with GPGC on February 18, 2018. The UK tribunal, in its final award dated January 26, 2021, found that Ghana had violated its contractual obligations, resulting in significant financial damages for GPGC.

The tribunal initially awarded GPGC $134.3 million in damages, calculated using the Early Termination Payment formula as specified in the purchase agreement.

Ghana, however, did not comply with the tribunal’s verdict, prompting GPGC to pursue the matter in U.S. courts. On January 19, 2024, GPGC filed a lawsuit in the District of Columbia, citing the Federal Arbitration Act and the New York Convention, which provides for the recognition of international arbitration awards.

Court documents reveal that the petition was formally delivered to Ghana’s Ministry of Foreign Affairs and Regional Integration on January 23, 2024.

Despite receiving the legal documents, Ghana failed to respond to the court proceedings by the March 29, 2024, deadline. This non-response led the U.S. court to grant a default judgment in favor of GPGC.

Chief Judge James E. Boasberg emphasized that the arbitral judgment fell under the New York Convention, which requires member states, including the United States, to recognize and enforce international arbitration awards.

He further noted that Ghana had voluntarily submitted to international arbitration when entering the power purchase agreement, waiving its sovereign immunity in the process.

Although GPGC was not awarded pre-judgment interest, Ghana will be obligated to pay post-judgment interest at rates set by U.S. law.

This adds an additional financial burden to the $111.5 million judgment as the payment accrues further interest over time.

The country narrowly avoided a separate $11 billion arbitration award in the infamous P&ID case, which was eventually overturned due to findings of corruption and bribery.

However, in the GPGC case, multiple European courts have upheld enforcement orders, leaving Ghana with limited legal recourse.

The court’s decision is expected to place added pressure on Ghana as it faces mounting financial obligations related to international arbitration disputes.

GPGC has indicated that it will pursue all available legal avenues to ensure full recovery of the damages awarded by the tribunal, including possible enforcement actions in other jurisdictions.

Continue Reading

Government

Zhongshang Fucheng Moves to Auction Nigerian Properties in UK Following $70M Arbitration Award

Published

on

Bola Tinubu

Zhongshang Fucheng Industrial Investment Ltd has escalated its efforts to collect a $70 million arbitration award from Nigeria by putting two residential properties in Liverpool up for sale.

This significant development follows a 2021 arbitration verdict against Nigeria, which remains unsettled.

The Chinese investment group has reportedly listed two buildings linked to the Nigerian government—15 Aigburth Hall Road and Beech Lodge, 49 Calderstones Road—on the global online marketplace eBay.

The move is part of a broader strategy to recover the outstanding $70 million, which includes a principal amount of $55,675,000, plus interest and legal costs, as stipulated by the arbitration verdict.

The arbitration stemmed from a dispute between Zhongshang Fucheng and Ogun State over a trade treaty violation.

The company claimed that Ogun State rescinded its rights to a free trade zone in 2016, prompting a legal battle that saw Zhongshang’s executives expelled from Nigeria.

The British court granted Zhongshang the authority to seize Nigerian assets in the UK after the Nigerian government failed to settle the arbitration judgment.

The seizure and subsequent auction of these properties mark a pivotal moment in the ongoing legal conflict.

The properties were confiscated because they were not classified as diplomatic or consular assets, making them subject to seizure under the court’s orders.

According to sources familiar with the situation, the properties are valued at approximately $2.2 million.

Zhongshang Fucheng has opted for an online auction to expedite the sale, aiming to reach a broad pool of potential buyers.

The decision to use eBay highlights the company’s commitment to transparency and swift asset recovery.

“This move is not just about recovering the funds; it’s a demonstration of our commitment to enforcing the arbitration award and ensuring that due process is followed,” said a consultant working with Zhongshang Fucheng, who spoke on condition of anonymity.

The Nigerian government, already grappling with similar arbitration cases, is facing increased scrutiny as European courts have granted enforcement orders in several countries, including the UK, Belgium, and France.

The ongoing conflict with Zhongshang Fucheng has intensified pressure on Nigerian authorities to address these legal and financial challenges more effectively.

In June 2024, the UK High Court, King’s Bench Division, ruled in favor of Zhongshang’s right to seize the Liverpool properties.

Master Lisa Sullivan’s ruling emphasized that the properties were used for commercial purposes, thereby excluding them from sovereign immunity protections.

The case against Nigeria underscores broader issues related to international arbitration and asset recovery, reflecting a growing trend of global legal disputes over state assets.

For Zhongshang Fucheng, the auction of the Liverpool properties represents a critical step in securing the funds awarded by the arbitration panel.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending