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We lost N87bn to Lagos-Calabar Coastal road project – Eko Atlantic City owners

Published

2 months ago

May 13, 2024

Eko Atlantic City

We lost N87bn to Lagos-Calabar Coastal road project – Eko Atlantic City owners

South Energyx Nigeria Limited, owners of the Eko Atlantic City in Lagos, is bemoaning the loss of about N87 billion, an estimated cost of the reclamation/sand filling it did to the realignment of the Lagos-Calabar Coastal Road.

He lamented the wrong narrative where the public is meant to believe that Eko Atlantic City further reclamation would eventually turn their beach to dry ground, thus dressing them in the cloak of aggressors in the eyes of the public.

Akanbi said: “To put the records straight, we are the victims here and not the aggressors, as we are made to look like.

“The Federal Government, shifted the right of way (ROW) of the coastal road, bending it into the land reclaimed by us legally to save some valuable structures at the Landmark Centre.”

Akanbi said the Water Corporation Road was the original alignment government planned to use but they later realised that if they start from that end, by the time they get to where Queens Event Centre is, the demolition would be more massive than what we have.

He added: “The government in their wisdom committed themselves to less demolition. In fact, there is hardly any serious demolition right now in the sense that what has happened really is not like any of the structure of Landmark is affected; what has been consumed is the beach.

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“Our position is that, you did not even own the beach, where you are using today, as the beach is part of our land -Eko Atlantic city – and that ideally you should be paying us money but we have not asked you for any money because we were not in need of the land then.

“Now, what the Federal Government has even done is to save some of the structures because they said if they go by their original alignment, it will consume part of the Event Centre and the Mall. What this means is that Eko Atlantic City itself will suffer loss of land because the coastal road now enters into the land of Eko Atlantic City. ‘‘

“You know two parties are involved now, there is the federal government’s coastal road, there’s is Eko Atlantic City by the South Energyx, and because they shifted the ROW, the road now enters into our Eko Atlantic city, meaning that we are losing N87 billion for all the land that we reclaimed to sell to Developers which the Coastal highway has encroached on”.

“Again, another point that should be validly made to owner of Landmark Centre is that the beach he is claiming to ownership of is that by the time the Eko Atlantic City sand fills, and reclamation gets to that place, there would be no beach again. So, whether he like it or not, now or in the near future, that beach will not be there again”.

“It is only unfortunate that now the coastal road has come quickly to consume the beach. But our original deposition was that we will be able to get to work round it and there will be a win-win situation but his public utterance has made that impossible”.

“For example, eventually when we finish the Eko Atlantic City, even right now if you have entered it, you will see that there is still a beach inside. We will say, okay, let’s concession it, you can be using it, but we now saw that rather than him (Landmark owner) challenging the federal government and the ministry of works, that won’t want to even compensate you for any displacement it is the person that has been your licencee without collecting money for the land you are using, that you are facing.

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“The ugly part of it is that the story is now being tilted against us; rather than us being the victim, we are now the aggressor. So, that is what has happened and that is the impression we don’t want the public to have, as if we are oppressing this man over the land.”

Akanbi said, “They are painting us as the aggressor whereas we are the victim. It is our land you are on, it is our land you have been using since and that is why I told you about that google app, you can do it yourself and see how the thing moves. So, saying that you have been there since 2008, that means you have been where water was”.

“From 2018, you can see how reclamation was being done, how the land was settled before it became what we are using. So you can’t even claim that you are the one that reclaimed the beach because it was a settlement, just like driving water away then finding yourself elsewhere. That is the same way that the water does and when the wave comes it brings sub-sand and deposits there and that is the authentication of position”.

“He has been enjoying the beach without paying money. He ought to be paying us ideally from the money he makes on that beach, if we wanted to insist on our right, but we are not”.

Asked if Landmark had taken them to court, he said, “Well, as of now that I’m talking to you, we have not seen any case. You see what he says with his mouth is more potent than the court itself because an average person in Lagos will think that we are oppressing him. That is even more destructive than the court. The impression you create for the people, in fact, some people today see it that way.

“What we are trying to do is to put our own facts out, let people know our own side of the story that we are not oppressing anybody. In fact, if anything, we are the ones that are the victims because they have been enjoying Oniru and Landmark Beach, which by law is ours . Ideally they should be paying us.”

We lost N87bn to Lagos-Calabar Coastal road project – Eko Atlantic City owners

The Nation

Related Topics:Eko Atlantic City Lagos-Calabar coastal road

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Nigeria making progress in money laundering, terrorism financing fight – FATF

Published

4 hours ago

June 29, 2024

Trends Admin

Nigerian Financial Intelligence Unit

Nigeria making progress in money laundering, terrorism financing fight – FATF

According to the Nigerian Financial Intelligence Unit (NFIU), Nigeria will exit the Financial Action Task Force (FATF) grey list by early 2025.

The FATF acknowledged Nigeria’s progress during its June 2024 Plenary meeting in Singapore. Nigeria’s efforts to address anti-money laundering and counter-terrorism financing deficiencies have been recognized.

The Nigerian delegation at the Plenary included the EFCC Executive Chairman, the SCUML Director, and the NFIU CEO’s Chief of Staff.

A statement by Sani Tukur, Head of Strategic Communications at NFIU, confirmed Nigeria’s advancement and commitment to the Action Plan.

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It noted, “The Plenary approved two more upgrades. Nigeria has completed 30% of the Action Plan and is on track to exit the grey list by early 2025.”

Hafsat Abubakar Bakari reaffirmed Nigeria’s dedication to fully implementing the Action Plan and updated the Plenary on GIABA’s progress in strengthening its technical capacity.

Nigeria was placed on the grey list in February 2023. Exiting the list is expected to enhance Nigeria’s international reputation and attract foreign investment.

Nigeria making progress in money laundering, terrorism financing fight – FATF

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Scrap LGs if govs won’t allow them to function, Audu Ogbeh tells FG

Published

4 hours ago

June 29, 2024

Trends Admin

Former Minister of Agriculture, Chief Audu Ogbeh

Scrap LGs if govs won’t allow them to function, Audu Ogbeh tells FG

Former Minister of Agriculture, Chief Audu Ogbeh, has called on the federal government to consider scrapping the local government system if state governors continue to hinder its effective operation.

Ogbeh highlighted concerns over the inefficiency of Nigeria’s 774 local government areas, citing issues of governance control and alleged mismanagement of funds by governors. He emphasized that little improvement has been seen despite calls for local government autonomy and recent legal actions against governors for misusing local government funds.

Speaking on the socio-political programme “Inside Sources with Laolu Akande” on Channels Television, Ogbeh, a former National Chairman of the Peoples Democratic Party (PDP), expressed frustration over disappearing funds meant for local government administration. He criticized the lack of visible development projects despite significant federal allocations.

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“If we don’t want the local government system, let’s scrap it. But if allowed to function properly, it could be a fantastic system,” Ogbeh asserted.

He urged the federal government to withhold monthly allocations to states where governors appoint caretaker committees for local government administration, labelling such committees illegal according to Supreme Court rulings.

“Don’t send them cash; deduct their allocations and retain it,” Ogbeh insisted. He argued that governors failing to manage local government affairs adequately undermine national stability and development.

“These failures are creating dangerous problems for the country,” he concluded, emphasizing the urgent need for effective governance at the grassroots level to benefit all Nigerians.

Scrap LGs if govs won’t allow them to function, Audu Ogbeh tells FG

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Pension: Military begins three-month electronic verification of retired soldiers July 1

Published

5 hours ago

June 29, 2024

Trends Admin

Pension: Military begins three-month electronic verification of retired soldiers July 1

The Military Pension Board (MPB) has announced the commencement of an Electronic Verification Exercise starting from July 1, 2024, aimed at all veterans who served commendably before retirement.

Chairman of the Board, Air Vice Marshal Paul Irumheson, revealed this during a press briefing in Abuja, highlighting that the exercise will span three months, concluding on September 30, 2024.

Irumheson emphasized the shift to electronic verification as essential due to the security risks associated with physical travel, particularly for elderly pensioners and those residing abroad who face high transportation costs.

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Following a successful pilot test conducted from February 19 to March 1, 2024, involving 2000 pensioners with only 15 participants encountering issues, Irumheson assured that the system was refined based on trial phase feedback.

“On behalf of the Military Pension Board, I declare the Electronic Verification Exercise open for all retired pensioners,” stated Irumheson. He underscored the importance of public awareness and education initiatives to effectively guide pensioners through the verification process.

The Board stressed that pensioners failing to participate in the electronic verification exercise risk non-payment of pensions in the future. The initiative has received approval from Minister of State for Defence, Bello Matawalle, and Chief of Defence Staff, Gen. CG Musa.

The MPB urged all retired military officers eligible for pensions to actively engage in the exercise to ensure a smooth continuation of pension disbursements.