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Repatriation Of $550m Abacha Loot: U.S Court Clears Legal Hurdle

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repatriation

A United States District Court, yesterday, dismissed a case by a Nigerian lawyer seeking to stop the repatriation of over $550 million of stolen funds during the regime of late General Sani Abacha (referred to as the Abacha loot) to Nigeria until the payment of his legal fees worth $320 million by the Nigerian Government.

The thrashing of the case by Justice John D. Bates of the U.S District Court automatically clears the final legal hurdle for the return of the loot to Nigeria to help it retool its plummeting economy which has received heavy pummelling from falling oil prices and corruption.

The U.S-based Nigerian lawyer, Godson Nnaka, had laid claim to the fact that the Nigerian Government must pay him the $320 million as legal fee for the forfeiture of the $550 million of the Abacha loot still trapped in the United States.

But Justice John D. Bates, in dismissing Nnaka’s case, held the claimant was not entitled to such payment since he was not a party to the forfeiture case filed by the US Department of Justice in conjunction with Nigeria.

Nigeria, through the Office of the Attorney General of the Federation, also filed a robust opposition to Nnaka’s motion for the payment of the lien and also asked the court to bar Nnaka from making subsequent filings in that case.

Ruling on the case, the District Court entered an order denying Nnaka’s Motion for a Charging Lien (fee). The Court also specifically ruled that Nnaka’s participation in this case must now come to an end.”

Justice Bates said that Nnaka did not meet the basic prerequisites to be considered as a proper party in the case and to be paid the amount he requested for, having not qualified to represent Nigeria.

The judge also ruled out Nnaka for the payment since he had not won any judgment for Nigeria.

Justice Bates said in his ruling last night that “Neither Nnaka nor his purported clients are parties to the forfeiture matter and neither of them can win judgment through this litigation.

“The conclusion dooms Nnaka’s motion for charging lien. At common law, the charging of lien is applicable to a judgment or decree obtained for a client by an attorney. Until a judgment or decree has been obtained, the right to impose a lien does not arise.

“Even the most basic prerequisites for charging lien are missing here: Nnaka has not won a judgment for Nigeria; indeed, he had not successfully entered appearance on Nigeria’s behalf. A charging lien in the amount of $320 million is not called for. Nnaka’s claim against Nigeria must be pursued in another case: 16cv-1400.

“Unless and until Nnaka’s claim to the defendant’s assets are reinstated by the DC Circuit, Nnaka’s participation in this case must now come to an end,” the U.S judge ruled, paving the way for Nigeria to draw down its huge cash.

It will be recalled that Nigeria’s Attorney General and Minister of Justice, Abubakar Malami, who was in the U.S for the judgment, had recently raised the alarm that Nnaka was merely trying to delay the return of the Abacha loot by the U.S, by making a frivolous claim that Nigeria must pay him 40 percent of the Abacha loot.

Nnaka had also claimed that Malami was working against him after he had refused to relinquish “70 percent” of his 40 percent to the minister.

But in responding to the allegation, Malami described Nnaka as a strange person to the case who had not recovered a dime for Nigeria since he was allegedly given a mandate by the former Attorney General of the Federation, Mr. Olujimi, to recover the Abacha loot in 2004.

Malami, in a 44-page document made available earlier, described Nnaka as a man trying to reap from where he did not sow.

The minister said the Nigerian Government would not pay Nnaka the huge amount he is asking for since he is not qualified to practise law in the Maryland area where the case is taking place and did not recover any money for the country 14 years after he was given a provisional letter to help locate and recover the Abacha loot.

The court had also held that since the temporary letter given to Nnaka by Olujimi was not revalidated by Mohammed Adoke when the forfeiture case resumed in 2013, the lawyer could, therefore, not claim to be representing Nigeria.

But Nnaka immediately rejected the court verdict and appealed against the ruling and threatened to sue Malami for saying that he was not qualified to represent Nigeria and was not entitled to 40 percent of the Abacha loot. The litany of cases filed by Nnaka and the appeal by the US Department of Justice, in conjunction with Nigeria, directly delayed the repatriation of the huge cash from the U.S to Nigeria.

Upon persistent inquiry, Malami told Sunday Vanguard from the venue of the hearing in the U.S that he was hopeful that with the dismissal of the frivolous case by Nnaka, efforts would be intensified to bring back the Abacha loot.

“We trust that this Order denying Nnaka’s frivolous claim to the Abacha assets, will help to allay the fear of the Nigerian general public arising from an online medium’s article which stated that Nigeria stands to lose $320 million on account of Nnaka’s Motion.

“We also hope that this Order will help to correct the many falsehoods and half-truths published in the past against the Office of the Honourable Attorney General of the Federation regarding this matter.

“This is a positive development for Nigeria,” the AGF said.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Government

Kenya Partners Private Sector and Development Partners to Outline Roadmap towards Achieving Energy Efficiency Goals

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Barclays Plaza, Kenya

The Kenyan Government through the Ministry of Energy (MOE) today launched the Kenya National Energy Efficiency and Conservation Strategy (KNEECS or The Strategy) placing Kenya firmly on track toward sustainable consumption and production including renewable energy generation.

The Strategy was developed in collaboration with key stakeholders including the Kenya Association of Manufacturers (KAM) with support from the World Bank and the United Nations Environment Programme (UNEP).

To date, Kenya has made significant progress in energy efficiency and conservation. In 2006, MOE and KAM signed a Memorandum of Understanding to establish a Centre for Energy Efficiency and Conservation (CEEC). Its activities include undertaking energy audits of industries, SMEs and public institutions on behalf of MoE, provision of capacity-building in energy efficiency and conservation, public education and awareness activities and administration of the annual Energy Management Awards (EMA). CEEC has achieved over KES 13 billion (USD 152.8 Million) in energy cost saving equivalent to 2014.8 GWh, translating into a deferment of a 230 MW power plant.

The Strategy now seeks to guide the country further towards achieving its established Energy Efficiency (EE) goals within a defined timeframe. These goals are reducing the national energy intensity by 2.8% per year, and enabling the country achieve a 30 per cent greenhouse gas emission reduction by 2030 relative to Business as Usual (143 MtCO2e) and meet its national targets for Sustainable Development Goal 7 (Affordable and Clean Energy) by 2030.

Through the adoption of The Strategy, the country is expected to use less energy to produce goods and services without compromising on quality and quantity. Further, The Strategy will promote the use of technology that requires minimum energy to perform the same function and adoption of changes in behavior that encourage citizens to use a reduced amount of energy in their daily undertakings.

The Strategy sets targets for five key sectors to achieve its objectives, all of which are to be accomplished within a five-year timeline up to 2025: Households, Power Utilities, Transport, Buildings and Industry & Agriculture. Under the Households Sector, energy efficiency in domestic power consumption is expected to increase by 3%. This will be realized by increasing the number of household appliances such as television sets, subjected to Minimum Energy Performable Standards (MEPS) from the current six to ten and increasing the use of improved efficient biomass cook stoves by 50% of all households currently using biomass cook stoves. In the Utilities Sector, the strategy focuses on reducing transmission and distribution system losses from 23 to 15 % .The Strategy recommends the installation of 1 MW of energy storage facilities, whereby a total KSH. 5 Billion in investments will be required for implementation of energy conservation measures. Further, in the Transport Sector, improvement of fuel economy, increasing the share of electric vehicles to reach five per cent and raising the number of passengers using commuter trains from 116,000 to 150,000 per day are proposes. Similarly, the Building Sector has six targets while the Industry & Agriculture Sector has two.

Alongside these sectoral targets, Kenya aspires to strengthen implementation of energy efficiency and conservation measures. All involved agencies will mobilize resources to improve access to finance for energy efficiency projects and accelerate actualization of the Strategy, particularly the Directorate of Renewable Energy and CEEC. Gender-focused and targeted approaches will be implemented for inclusive participation and benefit. Additionally, awareness creation, citizen engagement, training and capacity-building will be implemented. This Strategy, therefore, calls for private and public sector players to mainstream energy efficiency and conservation in education by establishing a long-term mechanism to achieve a high level of government and public awareness on their importance. This will be accomplished by bolstering relationships and engagements among ministries, inter-ministerial forums, county governments, national governments and climate change units countrywide.

Ultimately, the KNEECS will contribute significantly to the essential areas outlined in the Big Four Agenda of food security, affordable housing, manufacturing and affordable healthcare for all.

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Nigerians Say No to Fuel, Electricity Hike, Stage Protest

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Nigerians Protest Increase in Fuel and Electricity Prices

Following the decision of the Federal Government to increase fuel price and raise electricity tariff after increasing Value Added Tax (VAT) by 50 percent, Nigerians have taken to the street of Lagos, the commercial capital of Nigeria, to protest the persistent increase in prices despite low earnings and global pandemic that have rendered most Nigerians jobless.

This is coming a day after the National Bureau of Statistics (NBS) reported that the nation’s inflation rate increased by 13.22 percent in the month of August.

The protesters called the government’s recent hikes despite the negative impacts of COVID19 and surged in the unemployment rate to over 27 percent an anti-people policy and therefore demanded a revised policy.

The protesters, who gathered at the Ojuelegba area of Lagos, said while nations are injecting funds into their economies to ease the effect of COVID-19 on their citizens, Buhari led government is compounding Nigerians suffering amid insecurities.

Experts have blamed the decision to raise prices on the International Monetary Fund and the World Bank. According to economic experts, the two multilateral financial institutions do not loan nations fund without forcing them to adopt their policy.

They identified some of the policies directed Buhari to implement as the unification of the foreign exchange market, Electricity tariff increase and subsidy removal even though Nigeria’s macro fundamentals are presently weak with foreign revenue falling with weak oil price and plunge in demand for the commodity.

 

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NLC Cautions National Assembly Against Resurrecting Water Bill

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Nigeria Labour Congress

NLC Warns National Assembly Against Bringing Back Water Bill

The Nigeria Labour Congress (NLC) has warned the National Assembly leadership against passing the Water Resources Bill into law.

This was disclosed by the NLC President, Ayuba Wabba, in a statement released in Abuja on Monday, titled, ‘Do not ambush Nigerians.’

It would be recalled that in 2018, there was outrage over the bill when the eighth National Assembly was divided over it.

But on July 23, 2020, the bill resurfaced at the National Assembly as the House of Representatives referred it to a “committee of the whole,” for third reading and passage.

Last week Thursday, Prof Wole Soyinka, a playwright and social critic; and organisations such as the Southern and Middle Belt Leaders Forum, the Ohanaeze Ndigbo and the Middle Belt Forum, also warned the Federal Government and the National Assembly against resurrecting the bill.

Wabba in the statement said that the nation is already facing a lot of challenges, saying it would be costly to cause fresh and unnecessary controversy.

He said, “Information in the public domain has it that the National Assembly leadership is working surreptitiously with vested interests outside the assembly to pass the bill without due legislative process.

“Although the National Assembly is constitutionally vested with law-making, we warn against the National Assembly ambushing Nigerians.

“We equally warn against legislative abuse or betrayal of Nigerians as this is what it will amount to if the bill is passed or caused to be passed without public engagement and scrutiny. Already, the sentiments expressed against this bill are too grave to be brushed off.”

Wabba, therefore advised that the bill should not be pass into law “because of the danger it portends to national unity.”

He said, “In the light of this, we state unambiguously that the National Assembly should listen to the voice of reason by resting this bill.

“As a pan-Nigerian organisation, we would continue to work assiduously for unity, development, justice and accountable leadership.”

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