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Keystone Bank sued for alleged non-remittance of $17 million to TSA

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An Abuja-based lawyer, Johnmary Jideobi, has sued Keystone Bank for alleged violation of the Treasury Single Account (TSA) policy.

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The bank was accused of not remitting $17 million to the TSA.

The bank is among the seven banks the federal government alleged to have connived with CBN some government agencies to illegally conceal $793.2 million meant to have been transferred to the TSA domiciled in the Central Bank of Nigeria (CBN).

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The government had, in the suit, alleged that $17 million out of the said amount was illegally hidden in Keystone Bank.

The fund in Keystone Bank and the six other banks were alleged to be revenues, donations, transfers, refunds, grants, taxes, fees, dues, tariffs etc accruable to the federal government from different ministries, departments, parastatal agencies.

But the Nigerian government, on August 9, 2017 withdrew the suit.

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The application with the suit No. FHC/ABJ/CS/1269/17 has the bank (Keystone), the Attorney General of the federation and President of Federal Republic of Nigeria defendants.

According to the court processes by Jideobi, which was released to newsmen Wednesday, the plaintiff (Jideobi) said on June 13, the 1st defendant in this suit filed its counter-affidavit and a written address dated June 12 in opposition to the plaintiff’s originating summons filed on December 21, 2017.

Jideobi in the papers informed that, in the counter-affidavit of nine (9) paragraphs, the 1st defendant offered mealy-mouthed, tenuous, weak and bare denials of the affidavit of facts that accompanied the plaintiff’s originating summons.

According to Jideobi, the 2nd and 3rd defendants in this suit, despite being served with the plaintiff’s originating summons as far back as February 14 have not filed any counter-affidavit or written address in opposition to the claims which the Plaintiff has tabled before Tribunal of Justice.

Jideobi therefore wants the court to declare that paragraph 4.21 of the guidelines on the implementation of the TSA/ e-collection prepared by the Office of the Accountant-General of the Federation dated September, 2015 is unconstitutional and therefore void in view of the combined provisions of Sections 80(1) and Section 162 (1) of the amended 1999 Constitution of the Federal Republic of Nigeria.

He prayed for an order declaring void the purported approval of the president (3rd defendant) for the exemption of Nigerian Petroleum Development Company Ltd.’s account from the TSA and other approval(s) given to any other ministry, department and agency of the federal government of nigeria same being unconstitutional and ultra vires the powers of the president.

Jideobi also prayed for an order of perpetual injunction restraining both the 2nd and 3rd defendants and every person or authority acting under their command or exercising the executive powers of the federation from further granting or purporting to grant a waiver to any person, ministry, department or agency of the federal government from complying with the peremptory dictates of treasury single account ordained by the provisions of sections 80(1) and section 162 (1) of the amended 1999 constitution of the Federal Republic of Nigeria.

He also sought a mandatory order compelling the 1st defendant to promptly sweep into the treasury single account all the liquid of NPDC and particularly, the unremitted funds being about $17,000,000 and such other unremitted funds belonging to the federal government of Nigeria being unlawfully withheld from the federation account domiciled with the 1st defendant.

November 6 has been fixed for hearing of the case.

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The Arena: Adron Homes To Host Business Warfare Challenge

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ADRON HOMES TACKLING NIGERIA'S LEADING CHALLENGE OF HOUSING DEFICIENCY, GIVES SUCCOUR TO TINUBU INITIATIVE

*The Arena: Adron Homes To Host Business Warfare Challenge*

 

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Adron Homes’ renowned Business Warfare Challenge, THE ARENA, is set to commence once again, heralding an exciting period of strategic competition and professional growth within the company.

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Designed as an innovative Business Series, THE ARENA serves as a platform to cultivate and enhance the business acumen of Adron Homes’ esteemed staff, ultimately driving improved performance across the organization. This prestigious event brings together top managers from Adron Homes’ nationwide offices, creating a dynamic battleground where strategic minds collide in pursuit of golden prizes and lifetime rewards.

At the heart of THE ARENA are the Lions and the Lord Lion, distinguished judges tasked with evaluating the business strategies presented by competing teams. These strategies, if deemed viable, stand to be fully funded, amplifying the stakes and motivating participants to unleash their creativity and ingenuity.

Reflecting on past editions, where monthly winners emerged from various branches nationwide, it’s evident that THE ARENA is not merely a competition but a celebration of excellence and innovation. The allure of bumper gifts, including all-expense-paid trips to exotic destinations like Singapore, serves as a testament to Adron Homes’ commitment to rewarding outstanding performance and fostering a culture of achievement.

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As anticipation mounts for this year’s series of THE ARENA, excitement reverberates among Adron Homes’ dedicated staff, eager to showcase their talents and compete on a national stage. With the competition now set to unfold quarterly, the stakes are higher than ever, promising a heightened level of engagement and enthusiasm among participants.

Moreover, the rewards for success in THE ARENA are nothing short of extraordinary. From luxurious weekend getaways at five-star resorts within Nigeria to coveted all-expense-paid trips to the iconic city of Paris, accompanied by generous shopping allowances, Adron Homes spares no expense in recognizing and rewarding the achievements of its top performers.

Initiatives like THE ARENA underscore Adron Homes’ commitment to nurturing talent, fostering innovation, and creating a workplace culture

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Scarcity: Normalcy returns as fuel stations get supply of petroleum products

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*Scarcity: Normalcy returns as fuel stations get supply of petroleum products*

Queues have begun to vanish from filling stations across Nigeria’s major cities after the Nigerian National Petroleum Company Ltd intervened in the logistic issues that had breached the supply of premium motor spirit (PMS).

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Findings by this newspaper across filling stations in Abuja showed that queues are disappearing and normalcy has returned.

Queues have disappeared from most filling stations across major locations like Kubwa, Central Area, Wuse, Maitama, and Gwarimpa.

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Speaking on the development, a top official said, “The fuel stations round shows that the situation is calm. All stations have products and are selling.”

Recall that this newspaper had reported that the Independent Petroleum Marketers Association of Nigeria (IPMAN) on Tuesday warned against panic buying, adding that normalcy would return.

The National Secretary of IPMAN, James Tor, said, “If there is no product, then we can not give out anything. But happily, now, there are products, and the federal government is doing much. yesterday, our national president was explaining to us that the NNPCL has opened up some of their depots so that we can have products supplied and distributed to the public.

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“The president (IPMAN) even called me this morning (April 30, 2024) about the increase in the supply. So, what we are witnessing is just a bridge of what is going on and what is going on.

“But happily enough, I want to announce to the public that there shouldn’t be any panic buying, because when this thing happens, and people start rushing here and there and trying to accumulate the products, that effect will go a long way to affect everybody.

He explained that Nigeria exists in a global system that is influenced by the crisis in the Middle East between the Israelis and Iran.

“All these things if we put them together (impacts the Nigerian market),” Tor said, adding “any slightest thing that happens in the world, will affect the supply and distribution of petroleum products”

However, he expressed confidence in the role of the NNPCL in playing in ensuring energy security for Nigerians.

Tor said, “Good enough, an NNPC is ready and has opened up some of the depots so that they will start bringing in our product for distribution. I want to assure you that in any moment from now, you will see that the queues will be going down because they have intensified the supply.

“With what the NNPC is doing, very in a little, few days, you will start seeing the impact of what they are doing because IPMAN is involved.”

Scarcity: Normalcy returns as fuel stations get supply of petroleum products*

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Aviation Minister, Keyamo Join Other World Leaders For Dominican Republic Conference

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Aviation Minister, Keyamo Join Other World Leaders For Dominican Republic Conference

 

 

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The Honourable Minister of Aviation and Aerospace Development, Festus Keyamo SAN CON FCIarb (UK) has joined his counterparts across the globe for the International Civil Aviation Organization (ICAO) conference holding in Punta Cana, Dominican Republic.

 

 

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The world aviation forum, titled Global Implementation Support Symposium 2024 kicked off today with other distinguished Ministers and Secretaries of Aviation from across the globe in attendance. With over 600 delegates in attendance, this symposium marks a pivotal moment for the aviation industry.

 

 

 

Themed “Optimizing Aviation Capacity: Strategies for Safe Skies, Sustainable Future,” this year’s symposium promises captivating discussions and enlightening sessions aimed at shaping the trajectory of global aviation. Attendees can expect to delve into pressing topics including “Building Capacity for an Effective and Sustainable Air Transportation System,” “Safeguarding the Skies: A Deep Dive into Aviation Cybersecurity,” “Scaling Up Global Collaboration for LTAG Implementation,” and “Future-Ready Aviation Workforce: Embracing Mobility and Agility.”

As the aviation community convenes in Punta Cana, Dominican Republic, stakeholders are poised to explore innovative strategies and collaborative efforts to ensure the safety, efficiency, and sustainability of aviation operations worldwide. The symposium serves as a platform for experts to exchange ideas, share best practices, and forge partnerships that will shape the future of the industry.

Stay tuned for updates as the ICAO Global Implementation Support Symposium 2024 unfolds, charting a course towards safer skies and a more resilient aviation ecosystem.

 

Aviation Minister, Keyamo Join Other World Leaders For Dominican Republic Conference

Tunde Moshood
SA Media and Communications to the Honourable Minister of Aviation and Aerospace Development

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