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Firm cautions Nigerian government over sale of national assets

Agusto Consulting has cautioned the federal government over its plan to relinquish national assets to private hands, saying, the risk involved is unquantifiable. Agusto Consulting, in a report titled “Rethinking Nigeria’s Models for Infrastructure Development,” noted that, the benefits of relinquishing control to the private sector are glaring, but remain difficult to implement. Noting that the federal government’s handing off certain critical assets of the country that have been dormant over the years will positively impact on the country’s budgetary allocation, but added that this decision has caveats and risks associated with operating models that involve private sector participation regardless of the levels of participation. “First is the high level of corruption in the country and the...

Court restrains Nigerian government from extraditing Senator Kashamu

Associated Press Justice Okon Abang of the Federal High Court, Abuja, on Thursday, restrained the Federal Government from extraditing Buruji Kashamu, a Nigerian senator, to the U.S. to answer drug charges. Delivering judgement, Justice Abang, held that neither the federal government nor any of its agents could validly initiate extradition proceedings against Kashamu in view of subsisting judgements and orders in favour of the plaintiff, which had remained unchallenged. Abang particularly noted that the judgement delivered by the Federal High Court, Lagos on January 6, 2014 (in suit No:49/2010) and another judgement of July 1, 2016 given by the Federal High Court, Abuja (in suit No: 479/2015), which prohibited Kashamu’s extradition on account of the U.S. drug allegation, were still subsisti...