" ITREALMS: take over
Showing posts with label take over. Show all posts
Showing posts with label take over. Show all posts

Friday, January 25, 2019

Buhari replaces Onnoghen as CJN, swears in Justice Tanko Mohammed to take over - ITREALMS

President Muhammadu Buhari has replaced the Chief Justice of the Federation, JUstice Walter Nkanu Samuel Onnoghen and replaced him with Justice Ibrahim Tanko Mohammed, reports ITREALMS.

Buhari in an address made available to 
ITREALMS said the CJN is being suspended to enable him answer to the charges of the Code of Conduct Tribunal, just as he swore-in Tanko Mohammed as Acting Chief Justice on Friday in Abuja.

According to him, "A short while ago, I was served with an Order of the Code of Conduct Tribunal issued on Wednesday 23rd January 2019, directing the suspension of the Chief Justice of Nigeria, Honourable Justice Walter Nkanu Samuel Onnoghen from office pending final determination of the cases against him at the Code of Conduct Tribunal and several other fora relating to his alleged breach of the Code of Conduct for Public Officers.

"2. The nation has been gripped by the tragic realities of no less a personality than the Chief Justice of Nigeria himself becoming the accused person in a corruption trial since details of the petition against him by a Civil Society Organization first became public about a fortnight ago.

"3. Although the allegations in the petition are grievous enough in themselves, the security agencies have since then traced other suspicious transactions running into millions of dollars to the CJN’s personal accounts, all undeclared or improperly declared as required by law.

"4. Perhaps more worrisome is the Chief Justice of Nigeria’s own written admission to the charges that he indeed failed to follow the spirit and letter of the law in declaring his assets, citing ’’mistake’’ and ’’forgetfulness’’ which are totally unknown to our laws as defences in the circumstances of his case.

"5. One expected that with his moral authority so wounded, by these serious charges of corruption, more so by his own written admission, Mr. Justice Walter Onnoghen would have acted swiftly to spare our Judicial Arm further disrepute by removing himself from superintending over it while his trial lasted.

"6. Unfortunately, he has not done so. Instead, the nation has been treated to the sordid spectacle of a judicial game of wits in which the Chief Justice of Nigeria and his legal team have made nonsense of the efforts of the Code of Conduct Tribunal to hear the allegation on merit and conclude the trial as quickly as possible considering the nature of the times in which we live.

"7. Whether deliberately or inadvertently, we have all seen the full weight of the Chief Justice of Nigeria descend on the tender head of one of the organs of justice under his control. There is simply no way the officers of that court, from the Chairman to the bailiffs, can pretend to be unaffected by the influence of the leader of the Judiciary.

"8. Not only the trial court, but others have been put on the spot. Practically every other day since his trial commenced, the nation has witnessed various courts granting orders and counter-orders in favour of the Chief Justice of Nigeria, all of them characterised by an unholy alacrity between the time of filing, hearing and delivery of judgment in same.

"9. The real effect has been a stalling of the trial of Justice Onnoghen, helped along by lawyers who insist that these orders, whether right or wrong are technically valid, and must be obeyed till an appellate Court says otherwise. No doubt, that it is the proper interpretation, but is it the right disposition for our nation?

"10. Nigeria is a constitutional democracy and no one must be, or be seen to be, above the law. Unfortunately, the drama around the trial of the Chief Justice of Nigeria has challenged that pillar of justice in the perception of the ordinary man on the street. For it is certain that no ordinary Nigerian can get the swift and special treatment Justice Onnoghen has enjoyed from his subordinates and privies in our Judicature.

"11. In the midst of all these distracting events, the essential question of whether the accused CJN actually has a case to answer has been lost in the squabble over the form and nature of his trial. This should not be so.

"12. If Justice cannot be done and clearly seen to be done, society itself is at risk of the most unimaginable chaos. As a Government, we cannot stand by wailing and wringing our hands helplessly but give our full backing and support to those brave elements within the Judiciary who act forthrightly, irrespective of who is involved.

"13. As you are all aware, the fight against corruption is one of the tripod of policies promised to Nigerians by this administration. Needless to say that it is an existential Policy which must be given adequate attention and commitment by all the three arms of government. The efforts of the Executive will amount to nothing without the cooperation of the Legislature and especially the Judiciary.

"14. It is no secret that this government is dissatisfied with the alarming rate in which the Supreme Court of Nigeria under the oversight of Justice Walter Onnoghen has serially set free, persons accused of the most dire acts of corruption, often on mere technicalities, and after quite a number of them have been convicted by the trial and appellate courts.

"15. Since there is nothing the Executive Arm can do after the apex court of the land has spoken on any matter, several of these individuals walk free among us today, enjoying what are clearly the proceeds of the corruption which for so long has defeated the efforts of this nation to develop and prosper.

"16. It is against this background that I have received the Order of the Code of Conduct Tribunal directing me to suspend the Chief Justice pending final determination of the cases against him. It also explains why I am not only complying immediately, but with some degree of relief for the battered sensibilities of ordinary Nigerians whose patience must have become severely over-taxed by these anomalies.

"17. In line with this administration’s avowed respect for the Rule of Law, I have wholeheartedly obeyed the Order of the Code of Conduct Tribunal dated 23rd January 2019.

"18. Accordingly, I hereby suspend the Honourable Mr. Justice Walter Nkanu Samuel Onnoghen, GCON as the Chief Justice of Nigeria pending final determination of the case against him at the Code of Conduct Tribunal.

"19. In further compliance with the same Order of the Code of Conduct Tribunal, I hereby invite Honourable Justice Ibrahim Tanko Mohammed JSC, being the next most Senior Justice in the Supreme Court, to come forward to take the Judicial Oath as Chief Justice of Nigeria in an Acting Capacity.

"20. Fellow Nigerians, we can only stand a chance to win the fight against Corruption, and position our dear nation for accelerated development when we stand together to contend against it.

"Thank you and may God bless our country."

Uboshe Uboshe/Editor

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Wednesday, June 21, 2017

You can’t take over Etisalat - NCC

The apex telecommunications regulator in the country, Nigerian Communications Commission (NCC) has warned the consortium of banks led by Access Bank plc, saying they cannot take over Etisalat through the back door, reports ITRealms.

The Commission through its Director, Public Affairs, NCC, Mr. Tony Ojobo, told ITRealms that the despite the indebtedness of Etisalat to the consortium of banks, insisting that such takeover negates the provisions of the Nigerian Communications Act (NCA) 2003 Section 38.

This, he said, showed that granting of a license is personal to the licensee and not transferable.

According to Ojobo, NCA 2003 Section 38, Sub section 1 states inter-alia that “The grant of a license shall be personal to the licensee and the license shall not be operated by, assigned, sub licensed or transferred to another party unless the prior written approval of the commission has been granted.”

Buttressing this, NCC noted that Sub section 2 stated “A licensee shall at all times comply by the terms and condition of the license and the provision of this act and its subsidiary legislation.”

NCC condemned the planned takeover of Etisalat Nigeria by a consortium of banks, saying the Commission was aware of the indebtedness and had made efforts to resolve the aligning issues along the Central Bank of Nigeria (CBN) with a view to finding a resolution.
Unfortunately, the spokesman said, these meetings could not yield the desired results.

“The NCC wishes to reassure the over 21 million Etisalat subscribers that it will do all within its regulatory power to ensure that Etisalat subscribers continue to enjoy the services provided by the operator,” he said.

The Commission, Ojobo maintained, has taken proactive steps to cushion the impact of the takeover, this is without prejudice to the ongoing effort between Etisalat and the banks toward negotiated settlement.

“In view of the recent development, NCC wishes to reassure all stakeholders in the telecommunications sector in particular the subscribers on the Etisalat Network that the Commission will ensure that the integrity of Etisalat Network is not compromised,” NCC assured, stressing that subscribers would continue to enjoy the services provided by Etisalat.

ITRealms recalls that the bank consortium comprised Access Bank plc, Zenith Bank, GTBank, First Bank, UBA, Fidelity Bank, Ecobank, FCMB, Stanbic IBTC Bank and Union Bank.


Nonye Dom/GEE
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Thursday, March 09, 2017

Etisalat denies take over by bank consortium, says no panic


Etisalat Nigeria has denied news making a round that it has been taken over by some consortium over delays in meeting up with servicing of loan facility worth N541bn secured in 2015, reports ITRealms.

Speaking on this development, the Vice President for Regulatory Affairs at Etisalat Nigeria, Mr. Ibrahim Dikko, noted that although Etisalat missed payments due to the economic downturn in Nigeria, currency devaluation and dollar shortages on the country’s interbank market.

The bankers, he insisted have not taken over Etisalat Nigeria as discussion is ongoing for possible renegotiations.

“They have not taken over the business and we are hoping that we can resolve the issue and find a way to renegotiate terms,” Dikko declared.

He explained that the business performed well, last year, and still in profit at the level of  Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA), while loan repayments had been up to date “until recently.”

Dikko further said the company was now looking at “all the options”, which could include converting the loan into Naira, but did not want to anticipate the outcome of talks with the lenders.

Earlier the Head, Corporate Affairs, Mrs. Seyi Osunsedo had told newsmen earlier that there is no need for telecom subscribers and investors to panic, as efforts have been on high-gear to resolve the issue largely caused by instability in foreign exchange.

Meanwhile, ITRealms reports that Nigerian Communications Commission (NCC) and Central Bank of Nigeria (CBN) have summoned Etisalat and the three-member bank consortium to an emergency meeting tomorrow, Friday at CBN headquarters in Abuja.

Remmy Nweke/GEE
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