Jimoh Ibrahim, NICON to challenge AMCON takeover of assets – Newstrends
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Jimoh Ibrahim, NICON to challenge AMCON takeover of assets

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NICON Investment and billionaire businessman Jimoh lbrahim are set to approach the court for an order quashing the interim injunction obtained by AMCON against them.
AMCON had in a statement last week said it had taken over Ibrahim’s assets over an unsettled N70 billion loans obtained from Union Bank.
AMCON listed the assets as the building of NICON Investment Ltd at Plot 242, Muhammadu Buhari Way, Central Business District, Abuja; NICON Hotels Ltd on Plot 557, Port-Harcourt Crescent, Off Gimbiya Street, Abuja and the building of NICON Lekki Ltd also on No. 5, Customs Street, Lagos.
Others are the building of Abuja International Hotels Ltd located on No. 3, Hospital Road, Lagos; another Property on Plot 242, Muhammadu Buhari Way, Abuja; the former Allied Bank Building on Mile 2, Oshodi ExpressWay, Apapa Road, Lagos; Energy House located on No. 94, Awolowo Road, Ikoyi, Lagos; NICON Building at No. 40, Madeira Street, Maitama, Abuja; a Residential Apartment at Road 2, House A14, Victoria Garden City, Lagos; NICON Hotels Building at Plot 3, Road 3, Victoria Garden City, Lagos as well as the NICON Luxury Hotel’s Building, Garki I, FCT, Abuja.”
A report by The Nation said both NICON Investment and Ibrahim would plead before the court that the order granting AMCON possession of the assets was not properly obtained.
They are set to contend that AMCON did not avail the court of all the facts of the dispute between them.
Some of the questions they would want the court to answer are:
• How did AMCON secure a second interim injunction when the first injunction it obtained some years ago had allegedly been discharged?
• Did AMCON inform the court that on October 2, 2019 Justice Oguntoyinbo of the Federal High Court, Lagos, in a suit it instituted against NICON Investment and others, held that in view of the facts contained in the affidavit before the court, the court was minded to stay proceeding in the suit pending the outcome of the suit before a Lagos high court presided over by Justice Oyefeso?
NICON Investment and Ibrahim are wondering if judicial notice was taken of Justice Oguntoyinbo’s ruling in which he said “the lone issue formulated for determination by the court is hereby resolved against the plaintiff (AMCON) and in favour of the defendants (NICON INVESTMENT).”
A NICON Investment executive, in an interview with The Nation, wondered whether Justice Aikawa’s attention was drawn to Justice Oguntoyinbo’s order before the temporary order granting AMCON the possession of the assets was given.
He said, “In the High Court of Lagos before Justice Oyefeso, Union Bank, in her statement of defence filed in court, admitted that Jimoh had a deposit of over £137 million.
“The bank prayed the court as follows: ‘an order for the sale of the funds standing to the credit of the pound sterling fixed deposit account maintained by the 1st defendant to the counter claimant; the proceed of which shall be applied in liquidation or part liquidation of the judgment sum as may be awarded against 1st and 2nd defendant counter claimants.”
According to him, the £137 million with Union Bank is three times higher than the amount he and his companies borrowed from the bank.
Besides, he claimed the bank acknowledged another deposit of £125 million from another company of his, Global Fleet Oil and Gas Limited, making a total deposit of £250 million with it 10 years ago at five per cent interest.
“Out of the total deposit of £250 million with Union Bank, £137million was used to secure the loan, he said adding, who is owing who?” he asked.
Ibrahim and his company, the executive said, are upbeat that AMCON cannot sustain the interim order against him and his companies “because there is no returnable date on the court file.”
He also claimed that AMCON “did not sign an undertaking for a temporary injunction in the event that facts were misrepresented to the court as requested by the rules of the Federal High Court.”
According to him, Mr. Kemi Pinheiro (SAN), AMCON counsel in the new case had represented Union Bank in the suit before Justice Oguntoyinbo while Mr. Yusuf Alli (SAN), represented AMCON. Union bank, according to him, opposed AMCON joining the case at the Lagos High Court.

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Hajj fare may hit N10m as NAHCON ends subsidy

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Hajj fare may hit N10m as NAHCON ends subsidy

The National Hajj Commission of Nigeria (NAHCON) has stated that the federal government will not subsidise hajj payment for pilgrims in 2025.

Daily Trust reports that government subsidy is mostly in the form of concessionary rate which allows pilgrims to access dollars at a reduced rate from the Central Bank of Nigeria (CBN).

A statement by the spokesperson of the commission, Fatima Sanda Usara, said for the 2025 Hajj, “There will be no concessionary exchange rate from the government for Hajj fare payment for pilgrims whether under state or private Hajj operators.”

This means that if the naira maintains its current rate of N1,650 to a dollar, each intending pilgrim will pay almost N10million for hajj fare as pilgrims pay at least $6,000.

While NAHCON is yet to announce the hajj fare for the 2025 hajj, States Pilgrims Welfare Board have begun asking intending pilgrims to pay N8.5m as initial deposit pending the announcement of the hajj fare.

The statement also announced the refund of 64,682 (150 Saudi Riyal) to every Nigerian pilgrim that participated in the 2023 hajj.

The statement added that the revelations were made during an interactive meeting between NAHCON and members of Private Tour Operators in Nigeria (PTOs).

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“The meeting held today, 7th October 2024 was to update members on resolutions reached after resumption of office on Wednesday, 2nd October 2024 by Acting Chairman of the Commission, Prof Abdullahi Sale Pakistan who had been absent briefly on a trip.

“NAHCON’s Commissioner of Operations, Prince Anofi Olanrewaju Elegushi, chaired the virtual meeting with the PTO’s where he relayed new developments from both Saudi Arabia’s Ministry of Hajj and Umrah (MoHU) and NAHCON’s decisions resulting from the second EXCO meeting with the new head of the Commission.”

Elegushi also stated that Saudi Arabia had further reduced the number of PTO to 10 from 20 that was initially announced and each company must register a minimum of 2,000 pilgrims to be considered for Hajj visa approval.

He said for the 2022 refund, the commission is still awaiting further details but refund details have emerged only for PTOs that camped on Field Office 18 in 2022 and they are to collectively receive SR62, 602 (N26,993,224) as refund for poor feeding in the Masha’ir.

“Similarly, the Commissioner Operations informed the PTO members that the NAHCON’s EXCO has approved the option of honouring bank guarantee as payment of N40 million caution deposit for the 2025 Hajj. In view of the above, any operator who wishes to make the payment through bank guarantee but has already made a cash deposit is invited to request for collection of the earlier deposit in order to present the bank guarantee.”

He also clarified that contrary to claims that NAHCON owes PTOs N17 billion from the 2024 Hajj caution deposit of N25million, it only received N2billion, N750million from 110 companies that registered for the 2024 Hajj.

“The amount included a roll-over of N1billion, 250million from the previous year. From the amount, 30 companies requested for refunds amounting to N750m, which has been paid. The balance still in the custody of the commission accruing to undecided PTOs is N750m.”

 

Hajj fare may hit N10m as NAHCON ends subsidy

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Labour asks FG to audit 774 LGs’ workers, retirees

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Labour asks FG to audit 774 LGs’ workers, retirees

The Organised Labour comprising the Nigeria Union of Local Government Employees, NULGE, Nigeria Union of Teachers, NUT, and Nigerian Union of Pensioners, NUP, has proposed a staff redistribution, placement and auditing exercise, to ascertain the actual numbers of local government workers, primary school teachers and pensioners in all the 774 local government areas nationwide.

Under the Joint Action Committee, JAC, of Local government based unions they also recommended an embargo on recruitment of new staff into local government including teachers for one year from the date of the Supreme Court Judgment on direct payment to ensure stability and consideration.

These are parts of the recommendations JAC aimed at effective operations of local government during the direct remittance of federal allocation following the recent Supreme Court granting of financial autonomy to the local governments.

The President of NUT, Titus Amba, President-General of NULGE, Ambali Akeem, and President of NUP, Godwin Abumisi, in a seven point recommendations, noted that “For a hitch free take off of the direct payment system JAC recommends that there should be staff redistribution, placement and auditing exercise to ascertain the actual numbers of Local Government workers, primary schools teachers and pensioners.

“Recruitment of new staff into Local Government and teaching should be suspended for the period of one year from the date of the Supreme Court Judgment on direct payment to ensure stability and consideration. This will enable Local Government to focus on developmental projects and real service delivery”.

Among other recommendation, the JAC equally advocated the “restructuring of supervisory institutions controlling and supervising Local Government workers. These agencies are to be restructured by way of expanding their statutory members to include chairmen of local government; heads of local government based unions and other relevant stakeholders for quality control and inclusivity.”

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For Local Government Service Commission, JAC proposed for statutory membership to include: representative of Association of Local Government of Nigeria, ALGON, and representative of NULGE, while for State Universal Basic Education Board, SUBEB, statutory membership should include: Representative of ALGON and representative of NUT.

Similarly, Local Government Staff Pension Board statutory membership should include representatives of ALGON, NUP, NULGE and NUT, while Primary Health Care Agency statutory membership should representatives of ALGON and health practitioner from the local government.

According to the recommendations, “Due to the huge deficit in infrastructural development and lack of capacity for service delivery in many local governments nationwide, JAC recommends that Federal Government should intervene in the procurement of machines and equipment such as tractors, graders, bulldozers, refuse disposal vans (tipper lorries), septic evacuation van, public address system van and supply of materials and equipment for the vocational skill acquisition centers. Funds for the procurement of these materials should be deducted from Local Government allocation overtime on installment basis.

“The peace and security committee of the local government should be reorganized for the purpose of indexing, registration, kitting and intelligence gathering, policing and regular bi-monthly meetings coordinated and funded by the local government.

“For the purpose of workers welfare and industrial harmony, training and capacity building and sustainability of industrial stability in the Local Government system, the following payments should be made the first line of charge and domiciled at the relevant agencies.

“Gross salary of local government workers should be domiciled with the Local Government Service Commission. Two percent of total LG allocation for Local Government Service Commission running grants and Local Government Training should be domiciled with the Local Government Service Commission.

Gross salary of primary school teachers should be domiciled with SUBES. 1.5 percent of total LGA allocation for SUBEB running grants should be domiciled with SUBEB.

“25 percent of gross salary of teachers and local government workers should be deducted from LG allocation for the payment of pension and gratuity and should be domiciled with local government staff Pension Board. Five percent grant for traditional council should be deducted and remitted into traditional council accounts.”

Also, JAC proposed the “strengthening of the Federal Ministry of Special Duties and Inter- Governmental Affairs as Supervisory Ministry This is for the purpose of policy formulation, coordination, implementation and supervision. To also coordinate reforms in the local Government through quarterly summit to review government economic policy on Local Government Scheme of Service in every five years to enhance productivity and policy assurance at the local government level.”

 

Labour asks FG to audit 774 LGs’ workers, retirees

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Customs collect over N4tn in 9 months, plan to exceed target

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Comptroller-General of Nigeria Customs Service (NCS), Bashir Adewale Adeniyi

Customs collect over N4tn in 9 months, plan to exceed target

There are indications that the Nigerian Customs Service, NCS, is on the way to surpassing its 2024 revenue target. Information gathered by Vanguard shows that the Service collected a total of N4.07 trillion revenue as at end of third quarter 2024, Q3’24, which is about 7.6 percent higher than the prorated target of N3.81trillion for the period as given to it by the Federal Government.

With the Q3’24 figure Customs operatives hint that the fourth quarter, Q4’24, revenue would deliver the ambition to surpass the full year target of N5.1 trillion.

With the Q3’24 performance the Service now has an outstanding N981.9billion for the Q4’24 to meet its target for 2024 full year.

Vanguard also learnt that the performance so far in the last one year indicated that the new operating model and orientation introduced by the current Comptroller General, Mr. Adewale Adeniyi, has improved both the morale and efficiency of the operatives.

The collection data obtained by Vanguard showed that the month of September 2024 recorded a revenue collection of N423.2billion as against N320.9billion in the corresponding period of 2023.

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A breakdown of the revenue collection as contained in the data also showed that in January of 2024, it exceeded the monthly target, collecting N390.8 billion as against N199.8billion in January 2023, while the February revenue collection recorded a total of N450.2billion as against N88.6 billion in same month in 2023.

In March NCS revenue was N506.6billion, still much higher than the N217.6 billion in the same month in 2023, and in April 2024 it collected N459.2 billion as against April 2023 record of N172.1billion.

In May of 2024 the revenue was N459billion as against N214.7billion of the same month in 2023, while in June 2024 it collected N464.6billion against N234billion in June 2023.

In July 2024 it recorded the highest monthly collection of N569billion, as against N314.1billion recorded in the same month of 2023. The figures in August was N475.5 billion as against N372.1 billion in August 2023.

 

Customs collect over N4tn in 9 months, plan to exceed target

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