Recent records had shown drop in maritime crime and piracy in Nigeria and the Gulf of Guinea, head of the Nigerian Maritime Administration and Safety Agency (NIMASA) said here Tuesday.
Addressing the ongoing Global Maritime Security Conference holding in Abuja, Nigeria's capital, Dakuku Peterside, NIMASA's director-general, said there have been improvement through different initiatives to tackle maritime insecurity.
According to the International Maritime Bureau (IMB), 73 percent of all sea kidnapping and 92 percent of hostage-takings occur in the Gulf of Guinea off Nigeria, Guinea, Togo, Benin and Cameroon.
Recently, the organization has noted "a welcome and marked decrease" in attacks in the region due to an increase in Nigerian Navy patrols.
Twenty-one incidents have been recorded around Nigeria as at July this year, compared to 31 in the same period of 2018, said Peterside.
The Nigerian official however reiterated the need for more partnership and collaboration between relevant stakeholders to tackle the maritime insecurity menace in the region.
Peterside told his audience that safe and secured waterways will boost maritime transportation in Nigeria and in the continent.
He said member states in the region had agreed to deal with the issue of insecurity of waterways from its roots and had developed initiatives to ensure this.
Xinhua
Related stories: Nigeria loses $1.5bn monthly to sea pirates and fuel fraud
Video - Nigerian government extends anti-piracy operation by 3 months
Video - Piracy in Nigeria
Wednesday, October 9, 2019
Nigeria's $875 million case against JPMorgan alllowed to proceed
An $875 million Nigerian government lawsuit against U.S. bank JPMorgan is clear to move forward after a London-based appeals court on Tuesday rejected the bank’s bid to have the case dismissed.
The bank had asked the court to quash the Nigerian government’s case, arguing that it had no prospect of success. All three justices at the Court of Appeal in London rejected JPMorgan’s argument in a ruling.
“I have formed no view as to the overall merits of the (government’s) claim but there is nothing in the terms of the depository agreement which entitles (JP) Morgan Chase to bring the proceedings to an end at this stage,” Lady Justice Rose wrote in the decision.
Tuesday’s decision upheld a February ruling from a lower court.
Nigeria is suing JPMorgan for more than $875 million, accusing it of negligence in transferring funds from a disputed 2011 oilfield deal to a company controlled by the country’s former oil minister.
The bank declined to comment on Tuesday's ruling. It has said it considers the allegations against it "unsubstantiated and without merit", and that it would fight the case in court.
A spokesman for Nigeria’s attorney general did not immediately respond to requests for comment.
The case is one of several revolving around a $1.3 billion payment from oil companies Shell (RDSa.L) and Eni (ENI.MI) to secure offshore oilfield OPL 245.
The main trial related to OPL 245 is being held in Milan.
JPMorgan, acting under the instruction of previous Nigerian government officials, transferred money from those payments from an escrow account into accounts controlled by the previous operator of the block, Malabu Oil and Gas, itself controlled by former oil minister Dan Etete.
JPMorgan argued in its effort to dismiss the case that the approvals from those government officials was sufficient but the Nigerian government alleges that the bank’s transfers violated the duty of care owed to the government as a client.
Nigeria has also filed a $1.1 billion lawsuit in London against Shell and Eni over the deal.
Shell, Eni and their executives, have denied any wrongdoing. Etete, who was convicted of money laundering in France in 2007, has also denied charges against him.
The oilfield’s original license was awarded to Malabu in 1998, and is estimated to hold more than 9 billion barrels of oil, but has yet to enter production.
Reuters
The bank had asked the court to quash the Nigerian government’s case, arguing that it had no prospect of success. All three justices at the Court of Appeal in London rejected JPMorgan’s argument in a ruling.
“I have formed no view as to the overall merits of the (government’s) claim but there is nothing in the terms of the depository agreement which entitles (JP) Morgan Chase to bring the proceedings to an end at this stage,” Lady Justice Rose wrote in the decision.
Tuesday’s decision upheld a February ruling from a lower court.
Nigeria is suing JPMorgan for more than $875 million, accusing it of negligence in transferring funds from a disputed 2011 oilfield deal to a company controlled by the country’s former oil minister.
The bank declined to comment on Tuesday's ruling. It has said it considers the allegations against it "unsubstantiated and without merit", and that it would fight the case in court.
A spokesman for Nigeria’s attorney general did not immediately respond to requests for comment.
The case is one of several revolving around a $1.3 billion payment from oil companies Shell (RDSa.L) and Eni (ENI.MI) to secure offshore oilfield OPL 245.
The main trial related to OPL 245 is being held in Milan.
JPMorgan, acting under the instruction of previous Nigerian government officials, transferred money from those payments from an escrow account into accounts controlled by the previous operator of the block, Malabu Oil and Gas, itself controlled by former oil minister Dan Etete.
JPMorgan argued in its effort to dismiss the case that the approvals from those government officials was sufficient but the Nigerian government alleges that the bank’s transfers violated the duty of care owed to the government as a client.
Nigeria has also filed a $1.1 billion lawsuit in London against Shell and Eni over the deal.
Shell, Eni and their executives, have denied any wrongdoing. Etete, who was convicted of money laundering in France in 2007, has also denied charges against him.
The oilfield’s original license was awarded to Malabu in 1998, and is estimated to hold more than 9 billion barrels of oil, but has yet to enter production.
Reuters
Tuesday, October 8, 2019
Video - Solar energy gradually replacing diesel generators in Nigeria
With poor electricity supply from the national grid in Nigeria, most businesses and households in the country rely on generators for power. But as people tire of the noise and pollution, many are now turning to solar energy - an alternative that is cleaner, quieter and cheaper in the long run.
Related story: Nigeria runs on generators and nine hours of power a day
Monday, October 7, 2019
Cross-cultural romantic relationships are occasionally marked by moments of misunderstanding, apprehension and soul searching. But they are leavened by commitment, love and, crucially, humour. Those experiences form the bedrock of Bob Hearts Abishola, a new US comedy series airing on CBS that portrays a blossoming romance between an American man and a Nigerian immigrant woman. To observers, Bob (Billy Gardell) has it good – he has a prosperous business in Detroit manufacturing compression socks, owns his home and drives a great car. But his loneliness and the stress of running a company takes a toll and lands him in hospital with a heart scare. He is drawn to Abishola (Folake Olowofoyeku), a nurse and single mother who helps him get back to full health. He sets out to convince Abishola to give him a chance. But they soon find the path of courtship is long and winding as they face questions and well-meaning interference from family and friends. On Monday’s show we’ll meet three cast members and hear what they learned from making a sitcom that places the immigrant experience at the heart of the story.
Video - A teenager's struggle for survival in tough northern Nigeria
CGTN's Kelechi Emekalam highlights the life of a young Nigerian teenager who is defying the odds and pushing hard to make headway in life. Northern Nigeria, is considered the toughest place to survive in the west African nation.
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