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Abacha Loot: New £211m Hidden In Jersey Island Discovered, Seized By UK |The Republican News

A British court has seized the sum £211,000,000 belonging late General Sani Abacha.

According to Metro U.K, the late military dictator laundered the money through the US into the Channel Islands and now that money has been recovered.

The money was put in accounts held in Jersey by Doraville Properties Corporation, a British Virgin Islands company.

The money is now being held by the government until authorities in Jersey, the US and Nigeria come to an agreement on how it should be distributed.

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Unease As Nigeria May Lose $9bn In Foreign Assets As London Court Sits On Tuesday |RN

Her Majesty Court

Anxiety continues to mount in government circles in Nigeria as a London court sits next Tuesday in a case that may see Nigeria forfeiting up to $9billion in foreign assets.
The expected loss is in respect of an enforcement application to the United States of America and the United Kingdom courts by Process and Industrial Development, a British firm tied up in a legal dispute with the Federal Government.


The court case arose out of the failure of a contract awarded the company in 2010 to process wet gas to power Nigeria’s generating plants.
On 16 March 2018, a BVI-based engineering and project management company sought to enforce in the US a USD6.6 billion award it obtained in January 2017 against Nigeria. This is one of the highest arbitral awards known to date. It shows the importance of the Respondent challenging facts, assumptions and calculations provided by the Claimant and of providing alternative evidence to the Tribunal.
That figure has since been attracting interest at the rate of $1.2 million per day and currently stands at over $9 billion.
The next hearing on the case will come up in a London court on May 21, 2019.
A former Attorney General of the Federation, Chief Bayo Ojo is representing Nigeria in the case.
Brendan Cahill, Founder, P&ID, said the company looks forward to the UK and US courts granting enforcement rights that will allow it to collect what is rightfully its.
Cahill said: “If history is any guide – just look at how creditors seized Argentina’s naval frigate, while docked in Ghana.
“Efforts by Nigeria to evade this judgment will inevitably fall flat.

The ball is in Nigeria’s court.
“If the government is prepared to find a good-faith solution.”
Cahill, however, indicated that the company was open to negotiations with the Nigerian Government to settle the dispute out of court.
He said: “P&ID remains open to a settlement on a reasonable basis, but we need a willing partner in government to help resolve this matter.

“The onus is on the Nigerian Government to act in good faith to find a solution.”
After the P&ID’s Gas Supply and Processing Agreement with the Federal Government failed, the company initiated arbitration proceedings in London, in line with the original contractual agreement between the parties.
Cahill said the company decided to go to court after several attempts at salvaging the deal were botched.
He said: “P&ID’s Gas Supply and Processing Agreement failed when the government did not uphold its commitments.

“In August 2012, after several attempts over two and half years by P&ID to salvage the agreement, including offers to renegotiate the deal, the company initiated arbitration proceedings.”
Cahill is saddened by the failure of such a promising project and government’s lack of interest in trying to resolve the dispute amicably, adding that the original project would have brought power and economic growth to Nigeria by supplying free natural gas for electricity generation, as well as building a highly successful commercial venture with a share of profits going to the Nigerian Government.
He said: “The P&ID project would have supplied 2,000 megawatts of electricity in a country where tens of millions do not have access to electricity.
“The award judgment was handed down by the independent arbitration panel because it represented the loss of profits for P&ID over the 20 years of the project.”
In late February this year, the Office of the Attorney-General of Nigeria issued a statement contesting the huge amount the court awarded P&ID as damages, largely on the grounds that the project did not actually kick off the ground.
But Cahill reacted to the statement, explaining that the company had already put in years of planning, field work, design and on-the-ground preparation.
He stated: “We spent two and a half years offering solutions, while the government consistently failed to deliver its side of the contract.
“This is a tragic ending to a venture that would have delivered low-cost electrical energy to hundreds of thousands of households throughout Nigeria, and would have brought vital revenue to the Nigerian treasury.”
Cahill and his late partner, Michael Quinn, had over 30 years’ prior experience of executing successful engineering projects in Nigeria before the failed P&ID project that is now in dispute.

Background
In January 2010, Process and Development Limited (P&ID or the Claimant) and the Ministry of Petroleum Resources of the Federal Republic of Nigeria (Nigeria or the Respondent) entered into a 20-year Gas Supply and Processing Agreement (GSPA). Under this agreement Nigeria would supply Wet Gas to P&ID, who would process it in a newly-built facility and return it in the form of Lean Gas. P&ID could then sell the by-products of the refinement process (natural gas liquids (NGLs) for their own profit.
Nigeria did not make arrangements for the agreed supply of Wet Gas, including building the necessary pipelines. In March 2013, P&ID treated this failure as a repudiation of the GSPA. By that date PI&grin estimated that it had invested USD40 million in the project, although it had not yet acquired the land or built the facilities.
In July 2015, an ad hoc tribunal seated in London decided that Nigeria was liable to damages to P&ID. In a majority decision in January 2017, the tribunal awarded USD6.6 billion in damages to P&ID. The dissenting opinion estimated the loss at USD250 million over three years.

Claimant’s position
The Claimant estimated that the project would produce a net profit of USD5 to USD6 billion over a 20-year period.
Income projections were based on several assumptions relating to the expected yield of NGLs and the price of NGL. The Claimant estimated capital expenditure at USD580 million and operational expenditure at cUSD60 million per year.
The Claimant used a discount rate of 2.65% based on US Treasury bonds to represent only the time value for money.

Respondent’s position
The Respondent objected that P&ID should only be entitled to nominal damages as it had not fully performed its obligations under the GSPA at the date of the repudiation.
It argued that production would be disrupted by militancy in the Niger Delta so that utilisation should be reduced to 40-50%. The Respondent’s expert challenged the Capex calculation as being based on inadequate material.
The Respondent also insisted that damages could only be awarded for a period of three years as the Claimant had a duty to mitigate its loss and it should have pursued other investment opportunities.
The Respondent adopted a discount rate of 7% to reflect the risk of investing in Nigeria.

Approach taken by the tribunal
The Tribunal considered that there was no evidence that the Claimant was unable or did not intend to perform its obligations under the GSPA. Consequently, the Tribunal rejected the Respondent’s argument on nominal damages.
In addition, the Tribunal determined that there was no actual evidence that militancy in the Niger Delta had any impact on gas production or transport around the site earmarked by P&ID, or that other NGL prices than the ones forecast by the Claimant should be used.

In the absence of a meaningful challenge from the Respondent, the Tribunal agreed with the Claimant on key aspects of the measure and calculation of damages, including the 20-year period, the other underlying assumptions to project net income, and the discount rate. It awarded USD6.6 billion in damages together with pre and post-award interest of 7%. This interest rate reflects what PI&grin would have had to pay to borrow the money or could have earned by investing in Nigeria.

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Nigerian Leaders Stop Sleeping, Nigerians Need Leaders Who are Ready To Work And Corrupt-free – Trump

Trump-and-Buhari

By Eric Patrick,

The American president Donald J Trump again blasts Nigerian government for their inability to deliver and protect the lives of its people.

Trump had kick against the killings of innocent Nigerians in the country especially in the northern part of Nigeria by bandits.

According to him the Nigerian government must stop sleeping and find everlasting solution to the crisis that is taking thousands of lives, Trump also says that the poor are the ones facing the insecurity crisis most,’ adding that their lives are more exposed to jeopardy than the rich.

In a brief conclave with journalists the American president also condemned the Canadian citizen who was recently kidnapped in Nigeria by gunmen, pleading with the Nigerian federal government to take immediate action to save the Canadian citizen.

In the pass four years till date Nigerian have been going through a lot facing challenges like, insecurity, poor economy, corruption, lack of education and employment.

“Nigerians need leaders who are ready to work, who are ready to deliver when call to power, leaders who are corrupt-free, Nigerians need leaders who listen to the cry of the people, the Nigerian government must stop sleeping.

Americans are not perfect but we are working so hard to remain the world number-one and I know many African countries are looking up to Nigeria so their leaders should stop working for their selfish interest Trump says.

Trump also talked about president Buhari 10 day visit to the UK adding that, it is wrong for a president to travel without handing over power to his vice and not notifying the people he serves to know about his foreign trip.

Nigeria is a nice country recognized in the world, the country would have been second most powerful and most wealthy country in the world if not for the corruption that have taken over the minds of its leaders.

“However Donald Trump says, in the history of Nigeria leadership, the present government happens to be the worst ever. A government who don’t take legal actions to stop the killings of its people. The only government who don’t attack on terrorist but unleashed attack on innocent Nigerians. The only government who negotiate with terrorist, its time Nigerians need to rise and kick out bad government and fight for their pride.

 

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EFCC Arrest 37 “Yahoo Boys” Online Fraudsters In Imo State, 25 Exotic Cars Seized

Yahoo-Boys-from-Imo

The South-east Zonal Office of EFCC, on Wednesday, May 1, 2019, arrested 37 suspected internet fraudsters in Owerri, Imo State. The arrest followed a raid on some targeted residences in Okwu Urata, Aladinma and Egbu areas.

The Commission’s action followed intelligence report which pointed that the suspects were living lavish lifestyles without any known means of livelihood, alleging further that they specialize in defrauding unsuspecting victims, through the internet.

Yahoo-Boys-from-Imo1

In the course of executing the search warrants, items which included laptop computers, 25 five exotic cars, which include several brands of Mercedez-Benz, Lexus,Toyota and expensive mobile phones, were recovered.

Speaking on the development, the Zonal Head, Usman Imam, who said the exercise was in line with the Commission’s mandate decried the high rate of cybercrime in the zone which he blamed on the erosion and breakdown of country’s values.

“It is true that no society has been able to totally eradicate crime, but we are ready at least to reduce it to the barest minimum and it appears that this cybercrime is one of the challenges of our time, which the EFCC is willing to face drastically,” Imam said.

Yahoo-Boys-from-Imo2

Questioning the lifestyle of the suspects, Iman said; “What is the business of a university student, a new graduate or youth corper looking for money to buy a car of N10 million? Obviously, this is rushing life and a collapse of our positive value system where people rarely want to start from a humble beginning,” Imam added.

Yahoo-Boys-from-Imo3

Usman lamented that if nothing was done, the country’s leadership could be jeopardized as many youths involved in cybercrimes are expected to take up leadership positions in the future.

Yahoo-Boys-from-Imo

The suspects who volunteered their statements under caution will be charged to court as soon investigations into the matter are concluded.

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Nigeria To Take Delivery Of 12 Super Tucano Attack Aircraft In 2022 |RN

 

Nigeria would take delivery of the 12 Tucanno Aircraft ordered from the United States in 2022, Vice President Yemi Osinbajo, has said.

Osinbajo made the disclosure yesterday when he inducted two Augusta Helicopters recently purchased by the federal government from Italy.

The 12 Tucano aircraft, for which payment of $1 billion was made in 2017 by President Mohammadu Buhari drew a backlash from the National Assembly over the payment for the jet fighters without the approval of the parliament.

US President, Donald Trump, had during President Buhari’s visit to the United States announced that 2020 would be the delivery date for the aircraft.

Speaking as a guest of honour at the 55th Anniversary celebration of the Nigerian Air Force, Osinbajo said government would take delivery of the aircraft in 2022.

“I have no doubt that the employment of the newly acquired platforms, in addition to the Super Tucano aircraft, which would be delivered in 2022, would add impetus to the combat efficiency of the NAF”, he said.

The vice president, who lauded the contributions of the NAF in addressing the security challenges of armed banditry/cattle rustling and kidnapping in the North-east, said the efforts of the service, in conjunction with other security agencies, had started yielding positive results, thereby restoring Nigeria’s pride and honour amongst the comity of nations.

He affirmed that his administration would not relent until every spot within the territory of the country enjoys peace and order. (ThisDay)

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Rise Of Biafra Is Inevitable – Nnamdi Kanu |The Republican News

Jeff Amechi Agbodo, Onitsha

 

Leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu,has said rise of Biafra was inevitable following unfolding events.

Kanu, who stated this yesterday in a message to Biafrans in Munich, Bavaria Germanysaid the group was relentless, resolute and determined. He added that all enemies within and without would be put to shame.

“I thank the good people of IPOB for the huge turnout yesterday in Bavaria Munich Germany. Not minding the short notice, you proved your determination to restore Biafra, so that we can all return to our beloved homeland.

“The world is aware that IPOB is the most organised, peaceful and largest freedom movement on this earth. Biafra shall be free.

“Our victory over the multitude of forces of darkness is assured. We are relentless, resolute and determined.

“The collapse of Nigeria is imminent as the rise of the nation of Biafra is inevitable.

“All enemies within and without shall be put to shame,” Kanu said.  (The Sun)

 

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Nnmadi Kanu Releases ‘Proofs’ Surrounding Buhari’s Nationality, Says He’s Not A Nigerian |The Republican News

 

Mazi Nnami Kanu, the leader of the proscribed Indigenous People of Biafra has released some new ‘proofs’ that Buhari is not a Nigerian.

The leader of the Indigenous People of Biafra, Mazi Nnamdi Kanu, has come up with a fresh claim about the true nationality of President Muhmmadu Buhari.

Kanu, in his broadcast from the United Kingdom at the weekend, said that neither “dead” Muhammadu Buhari, nor “his replacement” Jibril al Sudani, is qualified to contest for Nigeria’s presidential election.

Nnamdi Kanu argued that being born on Nigerian soil was not enough to qualify one as a Nigerian citizen by birth, unless the parents, grandparents of such person is also born in Nigeria.

The IPOB leader said that Buhari’s father, Hardo Adamu, was a nomadic FULANI trader, a duck seller, from Niger Republic and later became a bodyguard in the Emir of Daura’s palace, which made him to settle in Daura, Katsina State, adding that he (Hardo) was borne in Niger Republic, not Nigeria.

Kanu said that the All Progressives Congress, APC, has opened the door by challenging Atiku’s citizenship by BIRTH, it now lies within the rights of every right-thinking person to also question Buhari’s citizenship by birth, even litigate it in Court.

He added, “NEITHER THE DEAD BUHARI NOR HIS REPLACEMENT JUBRIL AL-SUDANI IS A CITIZEN OF NIGERIA BY BIRTH ACCORDING TO SECTION 25 OF THE CONSTITUTION OF THE FEDERAL REPUBLIC OF NIGERIA

“Buhari, even before his death should not have contested for the presidency how much less the impostor Jubril Al-Sudani.

“Section 25 (1) of the badly worded, badly written 1999 Nigerian Constitution states that being born on Nigerian soil is not enough to qualify you as a Nigerian citizen by BIRTH, unless your father, mother, grandfather or grandmother is also born in Nigeria:

“According to the highest (Supreme) law in Nigeria which is the constitution, ‘The following persons are citizens of Nigeria by BIRTH-namely:

“(a) every person born in Nigeria BEFORE the date of independence, EITHER of whose parents or ANY of whose grandparents belongs or belonged to a community INDIGENOUS to Nigeria;

“Provided that a person shall NOT become a citizen of Nigeria by virtue of this section if NEITHER of his parents nor any of his grandparents was BORN in Nigeria.

“In simple/plain English this means that if NONE of your parents or grandparents is BORN in Nigeria, you cannot contest for the office of the president of the Federal Republic of Nigeria, simple and short.

“Section 131 of the 1999 Constitution which APC is relying on to disqualify Atiku, provides:

“‘A person shall be qualified for election to the office of the President if –

(a) he is a citizen of Nigeria by BIRTH.’

“Now, leaving that of Atiku for the moment, let us now consider whether the dead Buhari (now replaced by Jibril from Sudan) was a citizen of Nigeria by BIRTH, as defined under Section 25 of the Constitution of the Federal Republic of Nigeria (CFRN) above.

“Keep in mind that Section 25 did not provide being born in Nigeria as the ONLY conditions for being considered being Nigerian by BIRTH. There are other conditions, which one must fulfil and they are:

“1. As applied to Buhari, you must have been born before Independence, so having been borne in 1942, the dead Buhari passed this first test.

“2. Either of Buhari’s parents or any of his parents must belong to a tribe INDIGENOUS to Nigeria; and … [mind you not Republic of Niger]

“3. Under the Proviso to Section 25, either of them MUST also be BORN in Nigeria. [This is the most important proviso because even if you pass 1 and 2, you will still fail and won’t qualify to be Nigerian president if you don’t pass No 3, that is what the law says].

“Now, we know from public records that Buhari’s father, Hardo Adamu, was a nomadic FULANI trader, a duck seller, from Niger Republic and later became a bodyguard in the Emir of Daura’s palace, which made him to settle in Daura, Katsina State. So, he (Hardo) was borne in Niger Republic, not Nigeria.

“And Buhari’s father, being from Niger DID NOT belong to a tribe indigenous to Nigeria. This law was designed to stop cross border tribes from claiming indigenous identity to run for the presidency of Nigeria. Remember that the Yoruba tribe extends into Benin Republic.

“Though they are Yoruba by indigenous identity, they are not regarded as a population indigenous to Nigeria by virtue of the fact that they belong to another country. The same applies to Fulani people indigenous to Niger Republic that share common porous border with Nigeria.

“But given that Section 25 used the words ‘either of the parents or any of the grand parents’, we shall consider whether Buhari’s mother, Zulaihatu, was born in Nigeria.

“What we know for sure is that Hardo Adamu married Zulaihatu in Niger Republic and both of them, being nomadic, emigrated to Daura together sometime in early 1941. That is why there is NO record of any local Daura family in present day Katsina State that claims Zulaihatu comes from them.

“In other words, Buhari’s mother, also a Fulani from Niger Republic was NOT born in Nigeria.

“Now, here’s the question: if neither of Buhari’s parents were BORN in Nigeria, is it likely that any of his grandparents, that is the parents of Hardo and Zulaihatu were born in Nigeria? Not likely. This is where I challenge the Daura Emirate of Katsina to confirm or deny this.

“Let us now recall the Proviso to Section 25 which states, and I quote: ‘Provided that a person shall NOT become a citizen of Nigeria by virtue of this section if NEITHER of his parents nor any of his grandparents was BORN in Nigeria.”

“So, now we know that even though the late Buhari may have been born in Daura in present day Katsina State, NEITHER of his parents or grandparents were born in Nigeria. Buhari is therefore NOT a citizen of Nigeria by BIRTH as defined in the Proviso to Section 25 of the 1999 Constitution of the Federal Republic of Nigeria.

“So, even if they now claim that the Fulani is indigenous to Nigeria, Buhari still failed the FINAL and ultimate test of his parents or grandparents not being born in Nigeria.

“So, given that APC has opened the door by challenging Atiku’s citizenship by BIRTH, it now lies within the rights of every right-thinking person to also question Buhari’s citizenship by BIRTH, even litigate it in Court.”

(Daily Post)

 

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