Waiver
Obudu contract debt: Appeal court reserves judgment against Cross River
The Abuja division of the Court of Appeal has reserved judgment in the appeal filed by a private firm, Zedici Capital Ltd, against the Cross River State Government over a N3.8 billion contract debt. The appellant, Zedici Capital Ltd, is the firm that remodelled the Obudu Mountain Resort in Cross River State, now a subject of litigation. The three-member panel of the Court of Appeal, headed by Justice Peter Ige, reserved the date after counsel to the parties had adopted their legal submissions for and against the appeal, that is challenging the judgment of a High Court of the Federal Capital Territory (FCT), which had in 2019, refused to affirm the arbitral award to Zedici Ltd over its investment of N3.8 billion in the resort. Justice Ige announced that a date for the judgment would be comm...
WTO chief: Patent waiver not enough to close vaccine gap
World Trade Organisation (WTO) Director-General, Dr. Ngozi Okonjo-Iweala, has said that intellectual property waiver alone will not be enough to narrow the huge COVID-19 vaccine supply gap between rich and poor countries. She told the European Parliament that it was clear that discussions around vaccine patents alone would not suffice, saying that global leaders should do more to ensure that there is equitable production and distribution of the jabs. Okonjo-Iweala said developing countries had complained that the licensing process was cumbersome and should be improved upon. She added that while it makes sense to protect research and innovation, it is also important to expand access to the vaccines. According to her, manufacturers should work to expand production, pointing to idle capacity ...
Police nab five for stealing N55 million cocoa export consignment
The Nigeria Police Force, NPF, has arrested five persons, Lawal Abiola; Afeez Rasaq; Akeem Gbolahan; Idowu Jelili and Safiriyu Oyebanji over alleged involvement in the stealing of a 40-foot container of Cocoa worth N55 million meant for export to the United States of America, USA. The five suspects were alleged to have connived to steal the consignment that was contracted to one Kolawale Idowu of No. 3 Olawumi Academic Zone, Ibadan, on December 17, 2020. The Police report noted that the police involvement was as a result of a complaint on December 31, 2020, at about 1800hrs by Princewill Etonu, of No 5, Araba, behind Modern Linda House, Agbara, Ogun State and Adueyusi Gabriel of AMA Ventures, adding that since the incident the suspect refused to pick his call hence the case was reported. O...
South-West PDP congress: Seyi Makinde, Ayo Fayose’s groups fight over 756 delegates
Governor Seyi Makinde of Oyo State and a former governor of Ekiti State, Ayodele Fayose, are to test their popularity with 756 delegates that will elect officials of the Peoples Democratic Party in the South-West on Monday. While Makinde is backing a former Deputy Governor of Oyo State, Taofeek Arapaja, for the position of chairman, Fayose is mobilising for Dr Eddy Olafeso. Olafeso, who is from Ondo State, is a former occupant of the office. He resigned to contest the party’s governorship ticket in the last Ondo State election, which he lost to Eyitayo Jegede (SAN). Makinde had wanted the congress to hold in Ibadan, but the Fayose faction wanted it in another venue, saying the Oyo State capital was not safe for it and its supporters. However, two days ago, the National Working Committee of...
Commodities trading: SEC issues new rules on warehousing, collateral management
File Photo In a bid to ensure a vibrant commodities trading ecosystem, which would in turn boost foreign exchange earnings for the country, the Securities and Exchange Commission (SEC) has released new rules covering warehousing and collateral management, among others. According to the rules, every warehouse that stores commodities to be traded on a registered exchange shall apply to be registered by the SEC, while the commission shall maintain a register of all registered warehouses to be published on its website. The new rules also provide that any warehouse applying for registration shall submit proof of ownership or registered-lease deed or rent agreement, alongside a disclaimer from the owner of the warehouse/property providing waiver of ownership regarding commodities stored in such ...
U.S. Senate confirms Joe Biden nominee Lloyd Austin as defense secretary
The U.S. Senate on Friday confirmed President Joe Biden’s nominee, retired Army General Lloyd Austin, to serve as Secretary of Defense – the first Black American in the role. The vote was an overwhelming 90-2 in the 100-member chamber, far more than the simple majority needed. Lawmakers from both parties said they were pleased that Austin would be installed to lead the Pentagon just two days after Biden was sworn in as president on Wednesday. Senator Jack Reed, the incoming Democratic chairman of the Senate Armed Services Committee, noted the wide range of challenges facing the country – including the coronavirus pandemic and competition with China and Russia. “General Austin is an exceptionally qualified leader with a long and distinguished career in the U.S. military,” Reed said before t...
FRSC: No NIN, no driver’s licence
The Federal Road Safety Corps (FRSC) has given notice that it will start enforcing the National Identification Number (NIN) directive on driver’s licence processing nationwide, with effect from Dec. 21. Mr Bisi Kazeem, Assistant Corps Marshal (ACM), Corps Public Education Officer, announced this in a statement on Wednesday, in Abuja. Kazeem said that the enforcement became necessary following the Federal Government’s directives on harmonisation of citizens’ data by relevant agencies. In compliance with the directive, Kazeem said the FRSC had earlier put members of the public on notice, urging them, particularly those going for their driver’s license processing, to adhere to the directives. “As a follow up to that, FRSC management has resolved that effective Dec. 21, 2020, all applicants fo...
