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Re: ‘The ABC of a Recalcitrant Debtor’: Shaka and Yellow Journalism

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Few things rival honesty as the primary characteristic of a reputable journalist. Fairness, objectivity and honesty are three key factors that every good journalist must not jettison in his/her stories. While every journalist works hard to ensure he earns the trust of his audience, it is worth knowing that dishonesty is the surest way to violate that trust, Danjuma Gogo writes.

I read on Friday, February 5, 2021 the story in ThisDay Newspapers written by my brother Shaka Momodu which he titled “The ABC of a Recalcitrant Debtor”. Only that headline caught my attention far away here, making me to go deeper into the article. No doubt I am not the only one who read it.

Just like every other reader, I have followed till date Shaka’s style of writing and will still be reading him even when he often writes what seems to please his personal interest and his paymasters than the desires of his audience he often claims to be writing for.

After reading Shaka’s ‘The ABC of a Recalcitrant Debtor’, what first came into my mind was how a renowned journalist Femi Adesina who is the spokesman of Nigeria’s President had described him in his article on January 13, 2020. Adesina had titled that piece “Shaka Momodu: A Columnist as Hater-in-Chief” … Sorry I wouldn’t like to deviate here.

I recall that my brother Shaka Momodu said in his February 5 write up that “The latest in the pantheon of bad debtors, who are either refusing or unwilling to pay back their loans, is the Chairman of Seplat Petroleum Development Company Plc, ABC Orjiako.”

Dear Shaka, I would have loved to read from your piece all the bad debtors you know and those who are either refusing or unwilling to pay back their loans because you wrote as if you have their list. So why single out one man? At that point, I didn’t need a soothsayer to tell me how Shaka will proceed and end the article knowing fully well that Access Bank Plc and Seplat Petroleum Company Plc have been entangled in legal tussle in the former’s misdirected efforts to recover an outstanding $85.8 million loan given in 2012 to Cardinal Drilling Services Limited by Diamond Bank (now Access Bank) which Cardinal was yet to offset.

Like every other public commentator, I have followed developments around the botched crusade on December 2, 2020 when the bank tried so hard to take aback the Nigerian corporate world using a team of fully armed policemen and lawyers, who in a commando approach took over and disrupted businesses and activities at the No. 16 Temple Road, Ikoyi Lagos corporate office of the Nigerian oil and gas giant, Seplat Petroleum Company Plc. Thanks to the Court as the last hope of a common man…

Like every other person interfacing with global investors, I became worried when Seplat’s application for the vacation of the orders was not ruled on by Justice Rilwanu Aikawa on December 24, even though it had been argued by both parties, thus halting corporate activities of the global brand.

My dear brother Shaka, you know how economical you were with the truth in that piece by describing ABC Orjiako as the sole owner of Seplat knowing fully well that the company listed on both Nigerian and London Stock Exchanges is a public company whose ownership is distributed amongst general public shareholders.

Shaka, as it has been reemphasized severally, aren’t you aware that as chairman of Seplat, Orjiako was not a party to the loan agreements or Deeds of Debenture, and did not stand as a guarantor or make any commitment whatsoever in respect of the loan at any point? Rather, Access Bank had filed action against him as the Third Respondent, which you know is in flagrant violation of well-established and universal principles of law.

The Appeal Court had on January 22, 2021 intervened in the miscarriage of justice, by suspending the interlocutory orders pending the determination of the substantive appeal brought by the oil firm. Expectedly, the Appeal Court’s ruling was predicated on public good and economic consequences of the lower court’s orders.

Shaka, please be fair to readers and ensure your personal feelings most time on any critical issue is put aside in order to unleash the truth –that is good journalism.

Danjuma Gogo, an economist and a public affairs analyst is based in Houston Texas (+1 832-774-2176)

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.

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Saudi Arabia Breaks 70-Year Alcohol Ban, Opening Shop for Diplomats

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Alcohol

Saudi Arabia has announced the opening of an alcohol shop in Riyadh, breaking a 70-year-long prohibition on the sale of alcoholic beverages in the kingdom.

This decision marks a significant shift in the conservative nation’s stance on alcohol consumption.

The alcohol shop, set to be located in Riyadh’s Diplomatic Quarter, will exclusively serve non-Muslim expatriates, particularly diplomatic staff.

This is the first time since 1952 that alcohol will be legally available for purchase in the kingdom.

The initiative aims to provide a legal avenue for diplomats who have previously relied on importing alcohol in sealed diplomatic pouches.

The decision comes as part of the Saudi government’s efforts to address the issue of illicit alcohol trade within the country.

By offering a legal means to access alcohol, authorities hope to mitigate the risks associated with underground alcohol markets.

However, the shop’s operations will be subject to strict regulations. Only diplomatic staff with prior registration and government clearance will be allowed to purchase alcohol.

Also, patrons must be over 21 years old and adhere to a prescribed code of conduct while inside the shop.

The introduction of the alcohol shop is a part of broader societal reforms under Saudi Arabia’s Vision 2030 initiative, aimed at modernizing and diversifying the kingdom’s economy.

While the move represents a significant departure from traditional norms, it aligns with the government’s broader agenda of liberalizing certain aspects of Saudi society.

While the alcohol shop signifies a progressive step forward, it’s important to note that the sale and consumption of alcohol remain strictly prohibited for Saudi citizens under Islamic law.

Violators of these laws are subject to severe penalties, including fines, and imprisonment.

Overall, the opening of the alcohol shop marks a historic moment in Saudi Arabia’s social and economic landscape, signaling a willingness to adapt to changing global norms while navigating the complexities of religious and cultural traditions.

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NCAA Suspends Dana Air’s Operations Amid Safety Concerns

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Dana Air

The Nigerian Civil Aviation Authority (NCAA) has taken decisive action following a recent incident involving Dana Air by suspending the airline’s operations amid escalating safety concerns.

This move comes in the wake of an unsettling event where a Dana Air plane veered off the runway upon landing at Lagos airport.

The incident, which occurred shortly after a flight from Abuja, prompted emergency responders and regulatory agencies to swiftly respond and ensure the safety of all 83 passengers and crew onboard.

While initial reports indicate no injuries, the occurrence raised red flags regarding Dana Air’s operational safety protocols.

In response, NCAA wasted no time in initiating a thorough investigation with the Nigerian Safety Investigation Bureau leading the probe.

However, pending the investigation’s outcome, the regulatory body opted for a precautionary measure by suspending Dana Air’s Air Operator Certificate (AOC) effective April 24, 2024, at 23:59.

The suspension, outlined in a letter signed by Acting Director Chris Najomo, aligns with Section 31(7) of the Civil Aviation Act 2022.

The Minister of Aviation and Aerospace Development, Festus Keyamo, expressed dismay over the incident.

In a letter addressed to NCAA, the Ministry directed the immediate suspension of Dana Air’s fleet until a comprehensive audit could be conducted, covering safety protocols, maintenance procedures, and financial health.

The suspension serves as a stern reminder of the aviation industry’s uncompromising commitment to safety and underscores the need for thorough oversight to safeguard passengers and maintain industry standards.

As stakeholders await further developments, the focus remains on ensuring the highest level of safety and regulatory compliance within Nigeria’s aviation sector.

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Delta Air Lines Flight Diverts to Togo After Passenger Dies Midair

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Delta Air Lines

A Delta Air Lines flight from Atlanta to Lagos was diverted to Togo following the midair death of a yet-to-be-identified passenger.

The unfortunate incident occurred approximately three hours before the flight’s scheduled arrival in Lagos, prompting the crew to address a health emergency onboard.

Despite initial intentions to proceed to Lagos, adverse weather conditions, including heavy thunderstorms, forced the pilots to divert the plane to Lome, Togo.

The flight, Delta Air Lines’ A330-200 aircraft, was carrying 215 passengers at the time. Upon landing in Lome, the aircraft underwent refueling procedures and awaited clearance amidst the inclement weather.

Subsequently, after an additional delay in Togo, the flight resumed its journey and safely landed in Lagos, albeit approximately eight and a half hours behind schedule.

Passengers onboard expressed their concerns and frustrations, particularly regarding the handling of the medical emergency and the subsequent diversion.

Social media platforms buzzed with accounts of the ordeal, with one passenger recounting the unfortunate sequence of events, including the midair death and the necessity of an emergency landing due to fuel depletion.

Meanwhile, an airplane operated by Dana Airline veered off the runway at Murtala Muhammed International Airport.

The affected MD-83 aircraft, registration 5N-BKI, carried 83 passengers. Dana Air spokesman Mr. Kingsley Ezenwa confirmed all passengers and crew disembarked safely without injuries.

Ezenwa, in a statement, said: “Dana Air regrets to inform the public of a runway incursion involving one of our aircraft, registration number 5N BKI, which was flying from Abuja to Lagos today, 23/04/24.

“We are relieved to confirm that all 83 passengers and crew onboard the flight disembarked safely without injuries or scare as the crew handled the situation with utmost professionalism.

“We have also updated the Accident Investigation Bureau, AIB, and Nigerian Civil Aviation Authority (NCAA) on the incident, and the aircraft involved has been grounded by our maintenance team for further investigation.

“We wish to thank the airport authorities, our crew for their very swift response in ensuring the safe disembarkation of all passengers following the incident, and our sincere apologies and appreciation to the passengers on the affected flight for their patience and understanding.”

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