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NDDC Conundrum: More Questions than Answers! By Ayo Oyoze Baje

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HOW LAURETTA ONOCHIE IS FIGHTING TIMIPRE SYLVA'S GUBERNATORIAL AMBITION.

NDDC Conundrum: More Questions than Answers!

By Ayo Oyoze Baje

Quote:
“It is shocking that after the FEC, the highest ruling body in the country, had awarded a contract for the same project in 2021 at the sum of $11.7 billion for the construction of same Mega railway spanning through the length and breadth of the Niger Delta, that anyone would be signing an MOU on behalf of the NDDC and the Federal Government of Nigeria for the same project in 2023 without due process”
 – Ms Lauretta Onochie (Chairman of the NDDC governing board)
As with running the lives of individuals, there is always a difference between motive and method for that of conducting the affairs of public and private organizations. The facilitating factors that come into play; to oil the engine of growth and drive such dreams to the light of day are predicated on vision, character, commitment and of course, accountability.


NDDC Conundrum: More Questions than Answers!
By Ayo Oyoze Baje
 Whenever one or more of such catalysts are lacking, the process is derailed, leading of course, to preventable pains of those who are supposed to benefit from it all. And that precisely is what has played out with the noble objectives of the Niger-Delta Development Commission (NDDC).
It would be recalled that the Niger-Delta Development Commission (Establishment etc) Act2000 Act No 6 Laws of the Federation of Nigeria came as an Act to provide for the repeal of the Oil, Mineral Producing Areas Commission Decree 1998.  Among other things, it was meant to establish a new Commission with a re-organised management and administrative structure for more effectiveness.
Furthermore, it was meant for the use of the sums received from the allocation of the Federation Account for tackling ecological problems which arise from the exploration of oil minerals in the Niger-Delta area and for connected purposes. That came into effect on12th day of July 2000.
Unfortunately,  the noble aims and objectives of its coming into effect  under the then President Chief Olusegun Obasanjo had over the years got de-branded with the issues of corruption, incompetence and gross mismanagement of its resources. Terribly bad, you might say!
But it even got worse when it had no Board to effectively run its affairs for six odd years! By law it was supposed to be under the presidency. The change in the narrative however, came when former governor of Akwa-Ibom state, Godswill  Akpabio became the Minister of the Niger-Delta. It was he who appealed to President Muhammadu Buhari to place the NDDC under the Ministry of the Niger-Delta.
Ever since, it has been mired in one steamy scandal, controversy or the other. That was what necessitated the setting up of a forensic audit by the president to take a deeper look into the conduct of its financial transactions.
Interestingly, that opened up the can of worms with the alleged discovery of monumental corruption as 320 illegal accounts-both local and international- were traced to the Ministry by the forensic audit. That was in 2021 when the Report was submitted to Mister President.
Ordinarily, oil companies operating in Nigeria are supposed to pay 3% of their running costs to the NDDC but going by the allegations of corruption Buhari ordered that such sums should be collected by the EFCC. Other reports revealed that within that period it collected a whopping N710 billion on behalf of NDDC!
Buhari  was compelled, in his characteristic manner of transparency and probity to come up with the appointment of someone of proven integrity; someone with a proud pedigree of discipline; who attaches little value to material things. There comes in Ms Lauretta Onochie on whose behalf the president wrote to the Senate for confirmation back in November 2022.
Having worked with Mister President for seven good years, which provided him with the opportunity to study her true persona he knew that she was going to toe the path of honour and honesty. And that she did when during the first meeting of the NDDC Board it was mutually agreed that financial transactions must be approved by her person, as the Chairman for accountability and transparency.
In addition, such financial transactions were to be communicated to the CBN, the Accountant General’s Office and of course, the Minister of Finance. But the MD  of the NDDC, Dr. Samuel Ogbuku was vehemently against that significant decision.
Furthermore, he wrote a letter to counter the decision insisting that the status quo should remain. That audacious attempt to shake the NDDC table triggered some burning questions. Is it true, as alleged that the humongous sum of N50 million is always paid for trips made by the trio of the Managing Director of the NDDC, the Director of Finance as well as Projects for assignments carried out outside Port Harcourt? Is it also true that the monthly running cost has been increased from N6bn to N10bn? Yet, that was not all to it.
 Why would contractors be paid huge sums from the public purse without the knowledge of the NDDC Board but with payments approved by the head of the former interim management?  Why were the Board Members from Abia and Bayelsa states the ones to benefit from payments? And why are the NDDC Board members not given official vehicles? There was certainly more to it all than met the eye!
In fact, the last straw that broke the camel’s back in the cat-and-mouse game between the Minister of the Niger Delta and the Onochie-led Board of the NDDC came to the fore when the former went ahead to host the PPP Summit recently held at Eko Hotel in Lagos state without the approval of the latter!
Worse still, it went on to sign an MOU with an American company,  Atlanta Global Resources Inc., which according to Onochie has no requisite experience in any form of construction, not to talk about  railway construction! Onochie stated that the company in question is a management export consulting firm without known directors!
Describing the MOU as illegal she quoted that: “(a) By the act establishing the NDDC (Act No 6, of 2000), it is the Chairman of the board that is solely vested with the power to sign MOUs with any organisation. She added Part II of the NDDC Act, Section 8, sub sections (a) and (e), among other provisions,.
The Chairman of the PPP Board Gbenga Edema who hails from Ondo state is also a Commissioner with the board. Though he was supposed to report to the Board, he was allegedly ignored by the management.
Subsequently, all these shenanigans have dovetailed into the call by her traducers for Onochie’s removal from office. And that is all because she is firmly standing on her ground, insisting that she does not want the smelly Augean stable to remain in its mess!
Indeed, she reminds one of the late DG of NAFDAC, Prof. Dora Akunyili who epitomized diligence to duty, discipline and strict adherence to the dictates of the law.  Characteristic of her resolute stand, she wants things done within the ambit of the law, no matter whose ox is gored!
Unfortunately, the face-off has led to a situation whereby not much has been achieved by the NDDC in the past six months. The NDDC Executive Director Finance and Administration, is Maj-Gen. Charles Airhiavbere (Rtd), while  the Executive Director, Projects is  Mr. Charles Ogunmola. The Minister of the Niger Delta is Umanna Umanna.
So, while the elephants fight it is the hapless and long-suffering Niger-Deltans that continue to stew in the quagmire of preventable pains and poverty.
The clarion call has therefore, come up by concerned Niger Deltans for President Buhari to do the needful, even in his last days in office. They are urging him to amend the Act,  If possible, issue out an executive order to correct the anomalies and check mate the financial reckless of the Ogbuku-led management. That is, by giving executive powers to the Chairman of the Commission, similar to what OMPADEC had in place before it was dissolved.
With that, the incoming government will have an enabling legal environment to facilitate a holistic development of the oil-rich Niger Delta, so that the goose that lays the golden egg is effectively taken good care of.

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The Role of Certificate of Occupancy in Property Valuation Method in Nigeria by Dennis Isong

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The Role of Certificate of Occupancy in Property Valuation Method in Nigeria by Dennis Isong

In Nigeria’s real estate landscape, property valuation serves as a crucial process that determines the worth of a property for various purposes, including buying, selling, and securing loans. One significant document that plays a pivotal role in this process is the Certificate of Occupancy (C of O). This legal document, issued by the state government, confirms an individual’s right to use and occupy land for a specified period.
Understanding the interplay between the C of O and property valuation is essential for investors, developers, and homeowners alike, as it can significantly influence market perceptions and property prices.
Understanding the Certificate of Occupancy
The Certificate of Occupancy is a legal document that signifies ownership and the right to occupy land. In Nigeria, land ownership is primarily governed by statutory laws, customary laws, and the Land Use Act of 1978, which mandates that all land in urban areas is owned by the government. Thus, the issuance of a C of O is necessary to establish a legal claim over any parcel of land.
Obtaining a C of O is a comprehensive process that involves several steps, including land survey, payment of necessary fees, and completion of relevant documentation. Once issued, the C of O provides security to the landowner by guaranteeing their rights against unlawful eviction or encroachment. This security is a significant factor in property valuation. Properties with a valid C of O are generally seen as more valuable and less risky compared to those without, as the certificate signifies legal recognition and ownership rights.
C of O and Market Perception
The presence of a C of O can significantly influence market perception and the demand for a property. Properties with a valid Certificate of Occupancy are typically viewed as more desirable by potential buyers and investors. This perception stems from the legal security that a C of O provides. Buyers are more likely to invest in properties with a C of O because they have assurance that their rights are protected, and the likelihood of disputes regarding ownership is minimized.
Moreover, lenders and financial institutions often require a C of O before approving loans for property purchases or developments. A valid C of O enhances the credibility of the property, making it easier for buyers to secure financing. This accessibility to finance, in turn, can lead to increased property demand, thereby driving up its valuation. Conversely, properties lacking a C of O may be perceived as risky investments, resulting in lower valuations and reduced buyer interest. Thus, the C of O serves as a critical indicator of a property’s reliability and marketability.
C of O in the Property Valuation Process
In the property valuation process, a valuer considers various factors to determine the value of a property. These factors typically include location, size, condition, and comparable sales in the area. However, the existence of a C of O is often a prominent consideration. During the valuation process, valuers will assess the C of O to ascertain the legal standing of the property. A valid C of O not only confirms ownership but also indicates compliance with local land use regulations, zoning laws, and building codes.
Valuers may also take into account the duration of the C of O. In Nigeria, a C of O is usually granted for 99 years, and this long tenure can positively influence a property’s valuation. The security provided by a long-term C of O assures potential buyers of their rights over the property for an extended period, making it a more attractive investment. Conversely, properties without a C of O, or those with expired or disputed certificates, may be valued lower due to the inherent risks associated with such properties.
Furthermore, a C of O can impact future development potential, which is a crucial aspect of property valuation. Properties with a valid C of O are more likely to receive the necessary approvals for development or alteration, while those without may face legal hurdles. This potential for development can enhance the property’s value, as it indicates future income generation possibilities. Consequently, valuers consider the C of O as a critical factor that influences the overall worth of the property in the market.
Challenges and Implications of C of O in Property Valuation
Despite its importance, the C of O is not without challenges. The process of obtaining a C of O can be lengthy and complex, leading to delays in property transactions. In some cases, disputes over land ownership can arise, particularly in areas where customary land tenure systems are prevalent. These disputes can complicate the valuation process, as properties with contentious C of Os may be difficult to sell and consequently valued lower.
Additionally, the presence of a C of O does not automatically guarantee a problem-free investment. Factors such as environmental issues, development restrictions, or changes in land use policies can affect property value. Valuers must therefore conduct thorough due diligence, considering not only the existence of a C of O but also any associated risks or liabilities.
In conclusion, the Certificate of Occupancy plays a crucial role in property valuation methods in Nigeria. As a legal document that signifies ownership and security, it significantly influences market perception and property demand. Valuers must consider the C of O when assessing a property’s value, as it reflects the legal standing and development potential of the land. However, challenges associated with the C of O, such as ownership disputes and regulatory complexities, must also be navigated to ensure accurate valuations. For stakeholders in the Nigerian real estate market, understanding the importance of the C of O is vital for making informed investment decisions and maximizing property value.
Dennis Isong is a TOP REALTOR IN LAGOS.He Helps Nigerians in Diaspora to Own Property In Lagos Nigeria STRESS-FREE. For Questions WhatsApp/Call 2348164741041

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From Ankara to Amala: Owambe Party unveils Christmas Edition for party lovers in Lagos

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From Ankara to Amala: Owambe Party unveils Christmas Edition for party lovers in Lagos

 

Imagine a night where Aso Ebi slays meet twinkling lights, where the beats of Afrobeat and Highlife are spiced with electrifying performances ready to get your hips moving.

Get ready for the biggest and most unbeatable vibes at the 2024 Owambe party happening on the 15th of December 2024! at Amore gardens, Lekki phase1 proudly brought to you by Spotlight by Mmakamba.

The Owambe Party Christmas edition promises a night filled with vibrant entertainment, music, food and jaw dropping fashion with electrifying performances from award winning artists and celebrity DJs that will keep you dancing all night long!

This season’s ultimate turn-up is happening, and you’re invited to soak in the magic of Unbeatable Owambe Party vibes with all the flair and flavor you can handle.

Expect unlimited mouth-watering Jollof rice, smoky suya, and small chops paired with the finest palm wine and cocktails, because no party experience can match the Owambe Party.

Mark your calendars, save the date! December 15th will be a masterpiece!

For inquiries and reservation, follow us on Instagram: @SpotlightByMmakamba and @TheOwambeParty.

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Appeal Court Removes MC Oluomo, Reinstate Baruwa

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Appeal Court Removes MC Olumo, Reinstate Baruwa

Appeal Court Removes MC Oluomo, Reinstate Baruwa

 

 

The Appeal Court in Abuja has announced Alhaji Tajudeen Ibikunle Baruwa as the lawful President of the National Union of Road Transport Workers (NURTW).

Appeal Court Removes MC Olumo, Reinstate Baruwa

It can be recalled that Musiliu Ayinde Akinsanya, popularly known as MC Oluomo, was days ago inaugurated as NURTW president.

The recent decision came after the court reviewed and upheld an earlier ruling by the National Industrial Court.

The initial judgment, delivered on March 11, 2024, recognized Baruwa as the rightful president of the union. However, an appeal was filed by Alhaji Najeem Usman Yasin, Alhaji Tajudeen Agbede, and their supporters. They argued against the Industrial Court’s decision but were unsuccessful in convincing the appellate court.

A three-member panel of justices, Hamma Akawu Barka, Nnamdi Dimgba, and Asmau Ojuolape Akanbi, ruled that the appeal lacked merit. The court declared Baruwa as the elected leader of NURTW and dismissed the challenge brought forward by MC Oluomo’s faction.

In addition to confirming Baruwa’s position, the Appeal Court ordered the appellants, who are supporters of MC Oluomo, to pay N100,000 as damages to the respondents.

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