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Why CBN Governor, Godwin Emefiele Must Resign Immediately… What The CBN Act Says

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After months of speculation, Governor Godwin Emefiele of the Central Bank of Nigeria (CBN) joined the 2023 Presidential race, obtaining the forms of the All Progressives Congress (APC).

Prior to Friday, the CBN governor neither confirmed nor denied his interest in succeeding President Muhammadu Buhari.

However, there have been calls on him to step down because of the position that he holds.

The Socio-Economic Rights and Accountability Project, SERAP, has reacted as the Governor of Central Bank of Nigeria, CBN, Godwin Emefiele picks the All Progressives Congress, APC, presidential forms.

SERAP urged Emefiele to immediately resign his position as CBN governor.

The body said Emefiele should resign in line section nine of the CBN Act.

According to SERAP, Emefiele’s involvement in politics would distract him from carrying out his duties.

SERAP tweeted: “BREAKING: Following reports that the CBN governor Mr Godwin Emefiele has picked the APC N100m presidential nomination form, we urge him to immediately resign his position in line with S. 9 of the CBN Act.

“Engaging in politics will conflict with/detract from his full-time duties.”

It was gathered that Emefiele’s associates paid N100million for the nomination and expression of interest forms on Friday, at the International Conference Center, Abuja venue of the sale of forms

The discussion has generated mixed reactions. To take the conversation further, Daily Trust checked the CBN Act.

According to the Act,

– (1) A person shall not remain a Governor, Deputy Governor if he is –

(a) A member of any Federal or State legislative house; or

(b) A Director, officer or employee of any bank licensed under the Banks and Other Financial Institutions Act.

(2) The Governor, Deputy Governor or Director shall cease to hold office in the Bank if he –

(a) becomes of unsound mind or, owing to ill health, is incapable of carrying out his duties;

(b) is convicted…

(d) is disqualified or suspended from practicing his profession in Nigeria by order of a competent authority made in respect of him personally: (e) becomes

(0)

Bankrupt;

Removed by the President: Provided that the removal of the Governor shall be supported by two-thirds majority of the Senate praying that he be so removed.

RESIGNATION

The acts states that the Governor or any Deputy Governor may resign his office by giving at least three months’ notice in writing to the President of his intention to do so and any Director may similarly resign by giving at least one month’s notice in writing to the President of his intention to do so.

It adds that if the Governor, any Deputy Governor of Director of the Bank dies, resigns or otherwise vacates his office before the expiry of the term for which he has been appointed, there shall be appointed a fit and proper person to take his place on the Board for the unexpired period of the term of appointment in the first instance.

(Daily Trust)

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Asiko deepens gas penetration, unveils 300 metric tonnes LPG/CNG depot in Benin

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to grow in geometric progression- Alex Ogedegbe

… We are going to expand into CNG, LNG Gas Station- Abubakar Folami 

 

 

Asiko, a leading provider of clean energy solutions operating in Nigeria’s energy sector, has continued to contribute to the economic development of the country with its sterling efforts to ensure in-country utilisation and deepening of gas penetration in the nation, as it unveils 300 Metric Tonnes Liquefied Petroleum Gas (LPG) and Compressed Natural Gas (CNG) depot in Utesi, Ikpoba Okha local government area of Edo state.

 

This project invariably aligns with the federal government’s priority objective to attain 5 million MT of LPG consumption by 2023.

 

Speaking at the official commissioning of the gas depot, the Chairman of the Asiko Group, Engr Alex Ogedegbe, expressed that the gas potential of Nigeria is enormously huge and the LPG/CNG depot is designed to provide much-needed energy solution to Nigeria and beyond.

 

“Today, we are excited to launch our 300MT LPG and CNG depot. The multi-product gas depot, promises to improve gas availability and distribution in the region.”

 

According to him, “The LPG/CNG depot is poised to become a hub for a wide range of gas products. Under its licensing agreement, the depot is authorised to store Propane, LPG (Liquefied Petroleum Gas), CNG (Compressed Natural Gas) and Liquefied Natural Gas (LNG). Currently, it stores LPG and CNG, with plans for future development to enable the storage of LNG in the near future. The 300MT depot, the biggest in Benin, marks an added step towards contributing to a clean energy future and the realisation of the Federal Government’s decade of gas initiative.”

 

Ogedegbe said, “Nigeria is endowed with up to 183 trillion cubic feet of gas deposit, and we have not consumed up to 5% of that deposit in Nigeria today. Imagine how much we can distribute to Nigerian society and beyond if we have installations and facilities like this that we are commissioning today.

 

 

Also speaking to newsmen at the event, Mr Abubakar Folami, a Director at Asiko, said that the company has similar inland depots and plants across Nigeria, with an impressive inland Propane and LNG terminal currently under construction in Ijora, Lagos.

 

Similarly, the Utesi Community head, (Okaighele) Mr Monday Edo, said he was very happy about the project commissioning.

 

This LPG/CNG depot is not just a beacon of progress for the energy sector; it also carries a profound impact on the local community. The depot is expected to generate over 100 job direct and indirect job opportunities, contributing significantly to the economic welfare of the region. The creation of these jobs underscores Asiko’s commitment to empowering and uplifting the economic activities of its host communities.

 

Asiko is a leading provider of clean energy solutions in Nigeria, dedicated to delivering a comprehensive network of sustainable, accessible, and innovative clean energy solutions. With a focus on LPG, LNG, CNG, propane, and renewable energy, Asiko drives the region’s clean energy transition and ensures energy security.

 

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Tingo Media CEO Agbonwaneten to bury mum in PH

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It will be a carnival of sort as the Chief Executive Officer of Tingo Media, Mr. Ebuwa Martins Agbonwaneten has concluded plans to hold the funeral of his mother, Princess Karina Namikpoh who passed away at 68.

A statement by Agbonwaneten, who is also the CEO to The Dozy Mmobuosi Foundation, a non-governmental organisation owned by billionaire technology entrepreneur, Dozy Mmobuosi on behalf of the family, said their matriarch will be laid to rest in Port Harcourt, Rivers State on September 29- October 1, 2023.

A service of songs and tributes hold in her honour on Friday, September 29 at Azny Place, No 2 Louis Drive, opposite Nextime supermarket, GRA Phase 3, along Abacha Road, Port Harcourt.
Funeral service hold on Saturday, September 30 at Vaults & Gardens, Aggrey Road, off Cemetery Road Port Harcourt.

An interment reception will take place at The Palacios Event Centre, 63 Woji Road, Phase 2 Port Harcourt.

On Sunday, Oct 1, thanksgiving service will take place at Hilltop International Christian Centre, 7 Hilltop Drive Waterlines/Elekahia Link Road Port Harcourt.

Agbonwaneten extended invitations to colleagues, associates and business partners, saying interesting activities have been lined up for their unforgettable experiences.

“As you may already know, my mother’s burial is scheduled for the 29th – 30th of September, 2023, in Port Harcourt. This event is not just a somber occasion; it’s a celebration of a remarkable life and a chance to bid farewell to an extraordinary woman.

“I want you to be a part of this grand celebration. It’s an opportunity to join me in giving my mother the dignified and joyous send-off she deserves. I assure you; we have prepared an unforgettable experience for all who attend!

“Transportation will be seamless, with arrangements and adequate security in place for those traveling from Lagos, Benin, Abuja and all all over the world to Port Harcourt—all free of charge.

“We’ve secured top-notch hotel accommodations to ensure your stay is comfortable and convenient. Our event planning team and funeral directors rank among the industry’s finest, ensuring that every detail is meticulously attended to.

“You may already know my reputation as a gracious host, and I promise you won’t be disappointed. Our menu boasts a delectable array of cuisine, from continental delights to local favorites like ‘nkwobi,’ ‘pepper soup,’ ‘bolé,’ ‘starch and banga’, and more. The drink selection is equally impressive, featuring a range of choices from Champagne, Hennessy, Glenfiddich, Jack Daniels, cocktails, assorted wines, both alcoholic and non-alcoholic, and more,”he stated.

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Nationwide Blackout As National Grid Collapses Again…

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Nigeria has again been thrown into darkness after the national grid system, operated by the Transmission Company of Nigeria (TCN) from Osogbo in Osun State collapsed.
A check by The Guardian in the early hour of today showed that the grid plummeted to a meagre 273 megawatts of electricity coming from two out of the over 27 electricity generation.
This comes barely a week after TCN, rolled out the drum to celebrate a questionable 400 days of grid stability.
A number of Distribution Companies confirmed to The Guardian that the grid went down at 00:41 AM, disclosing that most of their feeders are out.
As of 4:00 a.m. on Thursday, five generating plants were on the grid. Afam VI had 0.70MW, Dadinkowa was generating 0.00MW, Ibom Power had 32.90MW, Jebba had 240MW and Olorunsogo was on the grid with zero generation.
At about 1AM midnight, the total power on the grid was 35MW, indicating that the country experienced a total collapse.
The grid went to 193MW at about 3AM before climbing to 273MW when this report was filed.
The TCN has not responded to inquiries by our correspondent about the development.

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