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PIB: Don’t Bribe National Assembly Members, Saraki Warns IOCs

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  • PIB: Don’t Bribe National Assembly Members, Saraki Warns IOCs

President of the Senate, Bukola Saraki, has urged the International Oil Companies and members of the Oil Producers Trade Section operating in Nigeria not to induce lawmakers during the consideration and passage of the Fiscal and Host Communities Bills.

The bills are components of the Petroleum Industry Bill now before the National Assembly.

Saraki noted that the leadership of the 8th National Assembly had made it clear to all members involved in the process to live above board.

He called on the leadership of the IOCs/OPTS to report any lawmaker who seeks any personal favour when the process of passing the bills commences this month.

Saraki was quoted to have read the riot act when the leadership of the IOCs/OPTS visited him, according to a statement by his Chief Press Secretary, Sanni Onogu, in Abuja on Tuesday.

The Senate President said, “Let me also use this opportunity to just make some ground rules clear. We, as the 8th National Assembly, I told you at the beginning that the two houses will be on the same position on the remaining bills. I think we have shown that on the first bill (Petroleum Industry Governance Bill) we passed.

“I am confident that for these other bills too, we will do the same. I want to assure you that it is in our own interest and the leadership has made it clear to all the members involved that this must be a transparent process.”

He added, “We are doing it in the interest of the country. The leadership (of the National Assembly) is not going to tolerate any hanky-panky. No favours. No gifts. Nothing must be given to get this work done. And we want to mandate you that if you see any of these, you should be able to bring it to the attention of the leadership.

“All we want to see is a bill that is in the interest of Nigeria and we have read the riot act to all our members that nobody should approach anybody for any interest towards any benefit, and I want to make this very clear.

“This is the position of the leadership on this issue. We must ensure that everything is above board, because this is not just a bill for today, but for future generations. We must make sure that in our time it is done properly.”

Saraki said after the passage of the PIGB by the National Assembly, which is now before President Muhammadu Buhari for assent, the process for the passage of the Fiscal and Host Communities Bills would soon commence.

The plan, he noted, was to pass a petroleum bill that would be a win-win for all stakeholders.

He added, “This is where we are now and this is where it concerns those of you who are operators to see that we can pass a petroleum bill that is a win-win for all. A petroleum bill that will be a win for Nigeria on the revenue side, investment side and jobs creation; and it is also a win for those who are investing in Nigeria. We appreciate that it is a very competitive world out there and we must make Nigeria competitive.

“The only way we can do that is through engagement. We cannot do it by just passing a bill and just putting it at your doorstep, because we are not the ones that will do the investment. So, it has to be a bill that we all believe is in the interest of all those who are involved.”

The leader of the IOCs/OPTS delegation and Managing Director, Shell Nigeria Limited, Mr. Osagie Okunbor, said the visit was essentially to assure the leadership of the National Assembly that the group would make its memorandum on the bills available to the relevant committees of the National Assembly during the public hearing.

He noted that it was important to ensure that the PIB that would be passed would essentially promote investment.

“Our primary concern is that at the end of the day, we both lay the years of uncertainty to rest, but even more importantly, that a bill that is passed eventually is one that we can all be proud of and the one that we can say will encourage investments in all parts of the oil industry,” Okunbor added.

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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Netanyahu Stands Firm as US Halts Bomb Shipment Over Rafah Invasion Warning

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Amidst escalating tensions between Israel and the United States, Israeli Prime Minister Benjamin Netanyahu has adopted a defiant stance following the US decision to halt a shipment of bombs and warned against Israel’s potential invasion of the southern Gaza city of Rafah.

In a bold statement, Netanyahu declared, “If we have to stand alone, we will stand alone,” emphasizing Israel’s resolve to pursue its objectives despite opposition.

The Prime Minister’s comments, delivered via social media and a subsequent interview with American talk show host Dr. Phil, underscore Israel’s determination to address security threats posed by the Gaza Strip, particularly by Hamas militants operating in Rafah.

Netanyahu reiterated the necessity of military action in Rafah to eliminate the remaining Hamas battalions, condemned Hamas’s history of violence and reiterated Israel’s commitment to achieving victory and ensuring the safety of its citizens.

The US administration, led by President Joe Biden, expressed concerns over the potential humanitarian impact of an Israeli invasion of Rafah, prompting the decision to withhold additional offensive weapons shipments to Israel.

Biden’s statement echoed broader international apprehensions about the escalation of violence and civilian casualties in the conflict-stricken region.

However, Netanyahu remained resolute in Israel’s approach, asserting the country’s right to defend itself against security threats. He emphasized Israel’s efforts to minimize civilian casualties and facilitate the evacuation of civilians from Rafah before any military action.

Despite the US’s decision to pause the bomb shipment, Netanyahu affirmed Israel’s commitment to its longstanding alliance with the US. He acknowledged past disagreements between the two nations but expressed optimism about resolving current tensions through dialogue and cooperation.

In response, White House officials reiterated the US’s support for Israel’s security while urging restraint and emphasizing the need to avoid actions that could exacerbate the humanitarian crisis in Gaza.

The administration clarified that the decision to halt the bomb shipment was aimed at preventing potential civilian casualties in Rafah.

The confrontation between Israel and the US underscores the complexity of navigating regional conflicts and balancing strategic interests. As tensions persist, both nations face the challenge of reconciling their respective security imperatives with broader humanitarian concerns, seeking to avert further escalation while addressing the root causes of the conflict in the Middle East.

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

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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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