The 3 bedroom flat goes for 500,000 Naira only per year. The present occupier of the flat is relocating to another place outside Lagos and is rent expires in April 2015. Interested person has 6 months prior to the expiration of the rent in April 2015. This offer goes for only 150,000 Naira only.

The seven man Investigative panel on allegation misconduct against the Nasarawa state Governor, Umaru Tanko –Al Makura has just dismissed the 16 count charges against the state Chief Executive in Lafia, the state capital.
African Examiner has earlier reported that about 20 legislators pushing for impeachment on the sleazy allegations against Al -Makura were represented by a team of six Lawyers, led by Mr. Ocha Ulegede before the investigative panel.
In contrary, the lawmakers through its Chairman, Committee on Information, Hon Baba Ibaku yesterday at the inauguration of the Yusuf Usman –led panel vowed they would not appear before it as they lacked confidence in its membership for allegedly being the supporters of the troubled state Governor. African Examiner Correspondent in the state capital report confirmed that the seven man – panel in its final ruling after a brief recess nullified the charges and dismissed them for lack of substantial evidences.

Source: http://www.africanexaminer.com/nasarawas-yusuf-usman-misconduct-investigative-panel-rubbishes-charges-against-governor-al-makura/

Following yesterday’s defection of the G-5 governors and the Abubakar Kawu Baraje led nPDP to the All Progressive Congress, APC, Vanguard learnt the APC is planning to present Governors Rabiu Kwankwaso of Kano State and Babatunde Fashola of Lagos State as its candidates for the 2015 Presidential election.

Vanguard gathered that the party wants to take advantage of Fashola’s performance in Lagos State and Kwankwaso’s influence as a governor of the northern state of Kano.

According to a source, although the candidates are both muslims, it hopes the feat recorded by the Moshood Abiola/Babagana Kingibe 1993 ticket, before the election was annulled, will be repeated.

Another option for the party, the source added, is the drafting of Governor Adams Oshiomhole of Edo State into the race for his achievements, popularity and acceptability in the country.

http://www.vanguardngr.com/2013/11/2015-apc-mulls-kwankwaso-fashola-ticket-2015-presidential-election/

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Training Course approved by RABQSA (USA & Australia). G‐CERT International is an ISO 9001
(Quality Management System), ISO 14001 (Environmental Management System)
Certification Body which was accredited by ACCREDIA (Italian National Accreditation Body).
Certification activities of G‐CERTI are as follows;
• Certification activities, adequacy assessment and certificate issuance relevant to
ISO9001 Quality management system.
• Certification activities, adequacy assessment and certificate issuance relevant to
ISO14001 Environmental management system.
• Lead Auditor Training Course approved by RABQSA.

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The Federal Government is enmeshed in court cases in the U.S. and UK over a curious $1.1bn (about N155 billion) payment made to a company belonging to former oil minister, Dan Etete.



Four years after he was convicted of money laundering in France, Dan Etete, a former Petroleum Minister, through his company Malabu Oil, has become a billion dollar richer, courtesy of the Nigerian Government and Shell.



According to documents (filed March 22, 2012) before the Supreme Court of the State of New York in the US, President Goodluck Jonathan discreetly approved the transfer of the sum of $1.1bn to Mr. Etete on April 29, 2011, two weeks after he was re-elected.



The money was first paid to the Federal Government by two multinational oil companies: Nigeria Agip Exploration Limited (Agip) and Shell Nigeria Exploration and Production Company Limited (Shell) in respect of oil block OPL 245.



But shortly after the funds were credited to the Federal Government's account, Mr. Jonathan ordered that it should be secretly transferred to a London account of Mr. Etete's company, Malabu Oil.



It is not clear what deal Mr. Jonathan struck with Malabu, and on what basis the payment was made. President Jonathan's spokesperson, Reuben Abati did not answer or return calls seeking his comment for this story. He also did not respond to a text message sent to him for the same purpose.



The government made the payment to Mr. Etete’s company even when it had repeatedly insisted that the award of the oil block to Malabu was done in violation of laid down procedures.



Shell insisted it had no knowledge that the government passed the funds to Mr. Etete's company.



OPL 245: History



While serving as Petroleum Minister under late Head of State, Sani Abacha, Mr. Etete awarded his own company, Malabu, an oil block, OPL 245 in 1998.



The allocation was however reversed by the Federal Government under President Olusegun Obasanjo in 2001 when the FG described the allocation process as dubious. The block was allocated to Shell in 2002.



Following the revocation, a prolonged legal battle ensued with Malabu taking the Federal Government to court. In 2006, the Federal Government reversed itself and re-allocated the oil block to Malabu. This angered Shell which then filed arbitration proceedings in Washington.



Following the protracted legal battles, an agreement was reached between all parties.



The agreement



In an agreement titled “Block 245, Malabu resolution agreement” dated April 29, 2011 between Malabu and the Federal Government, the FG agreed to pay Malabu $1,092,040,000 in “full and final settlement of all its claims, interests or rights relating to OPL245.” The agreement also stated that the rights to the oil block would be reallocated to Agip and Shell.



In a separate agreement between Shell and Nigeria, titled “Block 245 resolution agreement,” the two multinationals (Agip and Shell) agreed to Pay the same sum “for the purposes of FGN settling all and any existing claims and/or issues over Block 245…”



In other words, the multinational oil firms agreed to pay $1.1bn to the FGN with the knowledge that the money would be used to settle any existing claims that existed by any other party to the oil block.



We didn’t pay to Etete



Despite knowing that the money was to be paid as settlement to a third party and knowing that Malabu was the only company with bragging rights over the oil block, Shell claims it did not know the money was to be paid to Mr. Etete’s Malabu.



“Shell was not aware that that money was to be paid to Malabu,” said Precious Okolobo, a communications officer with the oil company in a telephone interview.



Mr. Okolobo confirmed in a follow-up email that the “the Federal Government of Nigeria has allocated the deepwater offshore block OPL 245 jointly to Nigeria Agip Exploration (NAE) and Shell Nigeria Exploration and Production Company (SNEPCo),” and that “each now holds 50 percent in OPL 245, with NAE as operator of the block.”



“Any payments relating to the issuance of the license were made only to the Federal Government of Nigeria,” the Shell official said saying “in line with Shell's information policy, we cannot reveal commercially sensitive information, and hence cannot comment further on the papers filed in the New York court proceedings.”



The American court case



Mr. Etete ‘s company is being sued in the United States for alleged refusal to honour an agreement with ILC, a company registered in the British Virgin Islands. The company claims it helped negotiate the agreement Malabu had with the FG and was thus entitled to payment under “an engagement letter and fee agreement” it signed with Malabu on January 19, 2010.



“ILC contends that it fully performed its obligations under the fee agreement entitling it to a 6 per cent success fee amounting to $65,522,400 and that Malabu has indicated that it will not pay this amount,” the company told the court.



Another company allegedly owed by Malabu over OPL 245 had also sued the company in the UK which led to a court freeze of some accounts linked to the company and also to Nigeria.



The Federal Government, through the Attorney General of the Federation, Mohammed Adoke had objected to the freezing of its account in a letter dated July 16, 2011 to the court saying “the FGN does not submit to the jurisdiction of the English courts and that this letter is sent only to claim immunity.



A history of corruption



Mr. Etete, who served as minister between 1995 and 1998, was convicted of money laundering in France in 2007. He was sentenced to three years in prison and given a fined $300,000. He was also asked to pay $150,000 to the Nigerian Government.



The former Minister appealed the ruling. In March 2009 however, a French appeal court confirmed the money laundering charges against Mr. Etete, and fined him $10.5 million after conviction.



Apart from money laundering and his controversial in oil block dealings, Mr. Etete is also believed to be a major beneficiary of the Halliburton bribe where $180 million dollars was paid as bribe to senior government officials by a consortium including a subsidiary of an American company, Halliburton.



Mr. Etete was an ally and business associate of Jeffery Tesler, the British middleman who coordinated the bribe scheme and who was recently convicted in the United States for his role in the bribe payment.



Neither Mr. Etete nor any other Nigerian has been convicted for the collection of the bribes; though the companies that made the payment and the middlemen have all been convicted or indicted in the United States and other host countries.

http://www.oyibosonline.com

Sad news coming from the Sangotedo area of the Lekki-Epe Expressway Lagos this morning.

A tanker has exploded burning cars and people – it was reportedly conveying cylinders with chemicals. The fire service appears to have been prompt on the scene but there is no confirmation on casualties even though eye-witnesses confirm deaths.

Traffic is at a standstill.

http://www.oyibosonline.com

Cloud hangs over HHI's shipyard plan in Nigeria

Abuja: Hyundai Heavy Industries' plans to build a $7bn shipyard in Nigeria are mired in doubts after conflicting statements from the shipbuilder's officials, reports said.

The South Korean shipbuilder was reportedly planning to build a $7bn shipyard in Nigeria to provide services to oil companies operating in Africa's largest energy industry.

Lee Jai-Seong, president of HHI, told reporters that the first phase of the project would be completed by 2014. The shipyard is sited at southern state Bayelsa in the Niger Delta region.

Another Seoul-based company spokesman, however, said HHI has not considered building a shipyard outside South Korea and does not have such a plan in the future. [16/09/11]

http://www.seatrade-asia.com//News/7635.html

Hyundai Heavy: No Plan To Build Shipyard In Nigeria

Hyundai Heavy Industries Co. (009540.SE), the world's largest shipbuilder by orders, said Friday it has no plan to build a shipyard in Nigeria, flatly denying reports of a $7 billion development in the African country.
"We have not considered building a shipyard outside the country and don't have such a plan in the future," a Seoul-based company spokesman told Dow Jones Newswires by telephone.
In Nigeria, Hyundai Heavy signed a memorandum of understanding with the government to construct a gas-plant equipment factory in June. Site work began in mid-September, the spokesman said.
The investment size is yet to be determined, he said.
Hyundai Heavy has two domestic shipyards in Ulsan and Gunsan

So then why this, ?

President Goodluck Jonathan on Thursday hailed South Korea's Hyundai Heavy Industries' decision to build a multi-billion dollar shipyard that can employ 2,000 locals in Nigeria.
The completion of the facility next year will boost Nigeria's economic development and create jobs for the local population, a statement from his office quoted Jonathan as saying at a meeting with the company's president, Jai-Seong Lee.
More than 30 million Nigerians, or 20 percent of the population, are unemployed, according to recent official figures.
"Hyundai has a long-standing relationship with Nigeria. You have always played a key role in our economy, especially our oil industry. We appreciate what you have done and are elated by your latest investment," the president said.
Lee said that on completion, the first phase of the Shipyard in Brass, in Jonathan's Bayelsa home state, will provide employment for at least 2,000 Nigerians, the statement said.


http://www.oyibosonline.com/cgi-bin/newsscript.pl?record=9509