Connect with us

The Federal Ministry of Youth and Sports development has directed the Nigeria Football Federation, a parastatal under it to comply with the judgment of the Supreme Court delivered on April 27, 2018, which restored the orders of the Federal High Court, setting aside the purported election into the Executive Committee of the NFF held on September 30, 2014.

The Minister of Youth and Sports Barrister Solomon Dalung said in a statement that the directive followed a written notification signed for the Attorney-General of the Federation and Minister of Justice requesting the Federal Ministry of Youth and Sports to ensure compliance.

The notification states thus; ‘I have been directed to notify you of the Orders dated June 5th 2018 made by Honorable Justice M. H. Kurya sitting at the Federal High Court Jos in respect of the above mentioned suit between Yahaya Adama Vs Alhaji Aminu Maigari which states that the election of the NFF held on August 26, 2014 under the leadership of Amb Chris Giwa be given recognition pending the hearing and determination of the motion on notice filed in this case and that the purported ban of the Executive Committee elected on August 26, 2014 from football activities of the NFF is unconstitutional, null and void.

‘It is trite law that court orders are sacrosanct and any acts of disobedience to it constitutes threat to the rule of law. Consequent upon the above, you are hereby advised to comply with the orders of court made therein which for now, is the valid and binding order of court, in the absence of any other subsisting order or judgment to the contrary’. Consequently, Barrister Dalung has however directed the parties involved to comply with the court order.

“This is a court order and not from Dalung. I will not want to go to Kuje prison because of disobedience of court orders. Therefore, I hereby comply with the court orders of June 5th 2018, while Mr Amaju Pinnick and others are also directed to comply with same.”

The order compels the defendants, including the Minister of Youth and Sports, their servants, agents and privies howsoever, the Inspector General of Police and all law enforcement agencies to forthwith enforce the orders made by the court on 19th September 2014 and 23rd October 2014 and give recognition to the General Assembly Meeting and election of the NFF held on 26th August 2014 under the leadership of Amb Chris Giwa pending the hearing and determination of the Motion on Notice filed in this case.

BIG STORY

Federal Government To Grant Mining Licenses To Only Companies That Process Locally

Published

on

Nigeria will only grant new mining licences to companies that present a plan on how minerals would be processed locally, under new guidelines being developed, a government spokesperson confirmed on Thursday.

This is a departure from Nigeria’s long-standing practice of exporting raw commodities, as governments around Africa work to increase the value derived from their substantial mineral reserves.

To spur investment, Nigeria will offer investors incentives including tax waivers for importing mining equipment, make it easier to secure electricity generation licences, allow full repatriation of profits and boost security, Segun Tomori, a spokesperson for Nigeria’s minister of solid minerals development said.

“In exchange, we have to review their plans for setting up a plant and how they would add value to the Nigerian economy,” Tomori said. He did not say when the guidelines would be finalised or come into effect.

However, last week the minister of solid minerals development, Dele Alake, said it was now government policy to make value addition a condition for obtaining licences so as to create jobs and help local communities.

Alake, who also chairs an African mining strategy group comprising mining ministers from Uganda, Democratic Republic of Congo, Sierra Leone, Somalia, South Sudan, Botswana, Zambia and Namibia, is pushing for a continent-wide effort to get maximum local benefit from mineral exploration.

Nigeria, Africa’s top energy producer, has struggled to extract value from its vast mineral resources due to poor incentives and neglect. The underdeveloped mining sector contributes less than 1% of the country’s gross domestic product.

Last year Nigeria exported mostly tin ore and concentrates worth about 137.59 billion naira ($108.34 million), mainly to China and Malaysia, according to the country’s statistics bureau.

The government aims to drive more investment into the sector by issuing more licenses. It has set up a state-owned solid minerals corporation offering investors a 75% stake and established a special security unit tasked with fighting illegal miners.

The government is also trying to regulate artisanal miners, who dominate the sector, by grouping them into cooperatives.

Foreign mining companies operating in Nigeria include Canada-based Thor Explorations which is involved in gold exploration, Chinese-owned Xiang Hui International Mining which partnered with a local company to process gold, and Indian-owned African Natural Resources and Mines, which is building a $600m iron ore processing plant in northern Nigeria.

Continue Reading

BIG STORY

Governor Babajide Sanwo-Olu Felicitates President Tinubu At 72

Published

on

Governor Babajide Sanwo-Olu, has congratulated President Bola Ahmed Tinubu on his 72nd birthday, describing him as a brave, bold, and passionate leader who is dedicated to the advancement, growth, and development of Nigeria.

He said that President Tinubu’s contribution to the nation’s growth is cause for celebration, citing the President’s unparalleled bravery, integrity, honesty, and patriotism in his efforts to steer Nigeria’s ship in the correct path since he into office on May 29, 2023.

Governor Sanwo-Olu, in a statement issued on Thursday by his Special Adviser, Media and Publicity, Mr. Gboyega Akosile, said President Tinubu has provided honest and transparent leadership in Nigeria by taking bold decisions to address challenges militating against the prosperity of Nigeria and Nigerians.

Sanwo-Olu further described the President as a visionary and master strategist whose democratic credentials are scholarly materials for study in political economy.

He said: “On behalf of my family, the government, the people of Lagos State,  members of the Governance Advisory Council (GAC), leaders, and members of the ruling All Progressives Congress (APC) in Lagos State, I congratulate our leader, President Bola Tinubu, on the occasion of his 72nd birthday.

“President Tinubu has sacrificed the greater part of his life in the service of our dear State and Nigeria. He contributed to the enthronement of democracy and good governance, serving first as a Senator in the aborted third republic and later as a pro-democracy activist, working tirelessly as a member of the National Democratic Coalition (NADECO) to struggle for the de-annulment of the June 12, 1993 presidential election.

“President Tinubu’s financial wizardry and economic intellect, which he put to good use as the Governor of Lagos State, have taken our dear state to a greater height. Today, Lagos is the pride of Nigeria, occupying an enviable position as the fifth largest economy in Africa.

“President Tinubu has made positive impacts in the country through the Renewed Hope agenda of his administration. His unblemished service and track record of impressive achievements in public office have made him a role model for many Nigerians.

“As President Tinubu celebrates his 72nd birthday, it is our prayer that God will grant him more prosperous years in good health and wisdom as he continues to serve our dear nation.”

Continue Reading

BIG STORY

JUST IN: CBN Increases Banks Capital Base To N500bn, N200bn For National Commercial Banks

Published

on

The capital basis for commercial banks with international permission has been raised to N500 billion by the Central Bank of Nigeria (CBN).

The policy change was confirmed by Mrs. Hakama Sidi Ali, CBN’s acting director of corporate communications. in a declaration.

She added that commercial banks with regional authorization are expected to reach a capital floor of N50 billion, while those with national authority must meet a ceiling of N200 billion.

Announced on Thursday, March 28, 2024, this comprehensive financial reform requires significant increases in banks’ minimum capital bases, which vary depending on the size of the bank.

The latest policy directive specifies that commercial banks with international authorization are now required to shore up their capital base to N500 billion.

In a bid to tighten the financial fabric, the CBN has not overlooked merchant banks, which are now subject to a N50 billion minimum capital requirement.

Continue Reading

Most Popular