8 — Vanguard, WEDNESDAY, AUGUST 5, 2020 :Vanguard News :@vanguardnews :@vanguardnews NEWS HOTLINES: 08052867023, 08052867058 Chinese loan agreements: Amaechi, Malami correct NASS on Sovereign immunity MINISTER of Justice and At<strong>to</strong>rney General of the Federation, Abubakar Malami, yesterday joined the Minister of Transportation, Chibuike Rotimi Amaechi, <strong>to</strong> set the records straight on Nigeria’s sovereignty not being at risk in the country’s loan agreements with China. ‘’There is a difference between international diplomatic immunity ‘which has <strong>to</strong> do with a nation’s sovereignty, independent existence’ and commercial immunity which has <strong>to</strong> do with a commitment <strong>to</strong> ensure repayment of loans,’’ Malami explained, in reaction <strong>to</strong> a question on a programme. He said the misconception was that the National Assembly was looking at the diplomatic immunity as against the commercial immunity of a country when it had <strong>to</strong> do with loans, adding that there was no concession whatsoever made as it concerned Nigeria’s diplomatic immunity. “If you talk of immunity within the context of diplomatic immunity which has the implication of the independence of a state and its institutions in its own right, there is no concession whatsoever made by Nigeria as it relates <strong>to</strong> diplomatic immunity that has <strong>to</strong> do with its independent existence as a nation, neither was any concession made as related <strong>to</strong> institutional diplomatic immunity of the Nigerian institutions. “But when you talk of immunity within the context of commercial sense, that is where I think we need <strong>to</strong> clarify issues with particular reference <strong>to</strong> the loans and commercial transactions among nations. “Concessions relating <strong>to</strong> immunity for the purpose of provision of commercial guarantee are a normal, traditional ritual. ‘’Nations enter in<strong>to</strong> respective interstate agreements and in the course of so doing, surrender their jurisdictional immunity. ‘’It is on account of that, for example, that you see Nigeria signing an agreement with other institutions or nations and agreeing <strong>to</strong> a choice of terri<strong>to</strong>rial jurisdiction for the purpose of determining disputes when they arise. ‘’So that is how eventually you see Nigeria submitting <strong>to</strong> jurisdiction for determination of a trade dispute in UK, in Paris and in other international fora or, even when Nigeria as a nation has diplomatic immunity. “Now, that brings you <strong>to</strong> commercial immunity, the context and the implication of a commercial immunity or sobriety. It’s indeed embedded in an appreciation that country A requests for a loan facility from country B and then country B is entitled as a matter of right <strong>to</strong> extract a commitment, an understanding that at the end of the day, the loan advance will eventually be paid,” Malami said. On his part, the Minister of Transportation, Chibuike Amaechi, again dispelled the notion that Nigeria’s sovereignty had been signed off <strong>to</strong> China in obtaining the loans. He said: “Nobody has signed out anything. A sovereign nation is a sovereign nation, nobody can recolonise us. We must learn <strong>to</strong> pay our debts and we are paying, and once you are paying, nobody will come and take any of your assets.’’ Amaechi said the previous administration could not even be blamed for the loan or clause in the agreement because it was a standard clause. He said: “We will not blame President Goodluck Jonathan’s government for taking the loan because like I said, it is a standard clause in every loan agreement. That clause enables the lending country <strong>to</strong> go <strong>to</strong> arbitration. ‘’It creates an avenue for them <strong>to</strong> be able <strong>to</strong> retrieve their funds in the case of a default. If, therefore, there’s an asset that has been mortgaged, they must be able <strong>to</strong> get <strong>to</strong> that asset. If you don’t waive that immunity, they cannot. It’s a standard clause in every international loan agreement. If the National Assembly says we have signed out our sovereignty, so why did they approve? Didn’t they see it before approving?” Nigeria’s domestic refining capacity rises by 3.8% — REPORT •As inves<strong>to</strong>rs complete construction of three refineries •Waltersmith Refinery comes on stream in August •As Dangote Refinery reaches 71% completion By Udeme Akpan THE refining capacity of Nigeria has increased from 445,000 barrels per day, bpd, <strong>to</strong> 462,000 bpd, as private inves<strong>to</strong>rs complete the construction of three new refineries, indicating an increase of 3.8 per cent. The refining capacity of the nation’s four refineries, located in Port Harcourt, Rivers State, Warri, Delta State and Kaduna, Kaduna State, had for several years been stagnated at 445,000 bpd, which was inadequate <strong>to</strong> meet domestic demand. But in its latest report -List of Valid Refinery Licences – obtained by Vanguard yesterday, the Department of Petroleum Resources, DPR, stated that the completion of work by Waltersmith Refining and Petrochemical Company Limited, OPAC Refineries Limited and Niger Delta Petroleum Resources (Train2), which have 5,000 bpd, 7,000 bpd and 5,000 bpd respectively, would increase the nation’s capacity by 17,000 bpd, bringing the <strong>to</strong>tal <strong>to</strong> 462,000 bpd. However, the report did not disclose when the new plants, located in Ibegwe, Imo State; Umuseti, Delta State and Ogbele, Rivers States, would come on stream. But in his email response <strong>to</strong> Vanguard, the Executive Secretary, Nigeria Content Development Moni<strong>to</strong>ring Board, NCDMB, Engr. Simbi Wabote, Ex-AGF, Adoke pleads not guilty <strong>to</strong> money laundering charges By Ikechukwu Nnochiri ABUJA—THE former At<strong>to</strong>rney-General of the Federation, Mr. Mohammed Adoke, has pleaded not guilty <strong>to</strong> the amended charges of money laundering. Mr. Adoke is being re-arraigned alongside Aliyu Abubakar who is an Abuja based businessman before Justice Inyang Ekwo of the Federal High Court in Abuja. During sitting on Tuesday, the defendants pleaded not guilty <strong>to</strong> the 14 count charge filed against them. The Economic and Financial Crimes Commission (EFCC) had in June filed an additional seven charges against the former AGF over money laundering allegations involving about N400 million. Adoke’s trial was expected <strong>to</strong> begin on Monday (yesterday) but it was stalled due <strong>to</strong> the amended charges. The initial charge contained seven counts, with six of them relating <strong>to</strong> Adoke. At the resumed trial, the prosecu<strong>to</strong>r, Bala Sanga, informed the court of an amended charge he filed on July 29 which was served on all the defendants. The trial judge, Justice Ekwo who frowned at the late filing of the amended charge adjourned the trial till Tuesday on the ground that he is yet <strong>to</strong> sight the amended charges. In the former seven counts, the EFCC alleged that the defendants committed the who specifically referred <strong>to</strong> Waltersmith, said: “The Waltersmith Modular Refinery is a 5,000bpd facility with <strong>to</strong>tal annual product volume of 271 million litres and daily output of about 300,000liters of diesel (AGO), over 50,000 litres of kerosene (DPK) and 400,000 litres of Heavy Fuel Oil (HFO). “These numbers are significant in plugging some of the gaps in local refining. This meant secured source of undiluted petroleum products for businesses within Imo and other surrounding states. ‘’I must commend the doggedness and professionalism of the Waltersmith , led by the Chairman, Mr Abdulrasak Isa. ‘’Within a period of two years of our partnership, we have come <strong>to</strong> appreciate the growth plans of this independent oil producer, including the phase2 of this project, which has a capacity of 30,000 bpd. “We had targeted the commissioning of the refinery in May 2020 but this was not possible due <strong>to</strong> the COVID-19 pandemic. ‘’As a key partner in the establishment of the modular refinery, we plan <strong>to</strong> invite dignitaries within the limits of COVID-19 pro<strong>to</strong>cols <strong>to</strong> witness this remarkable event, led by the Minister of State for Petroleum Resources, Chief Timipre Sylva. ‘’We will use the event <strong>to</strong> showcase what can be realized when there is money laundering offences involving over N400 million in Abuja in September 2013. In the counts relating <strong>to</strong> Mr Adoke, he was accused of among others, receiving the dollar equivalent of N300 million from Abubakar, paying the dollar equivalent of N367,318,800 <strong>to</strong> one Usman Mohammed Bello, and allegedly using the sum of N300 million, which was alleged <strong>to</strong> be part of the proceeds of unlawful activities, all in violations of various provisions of the Money synergy between government and the private sec<strong>to</strong>r.” Engr. Wabote, who confirmed that the plant was ready, said: “The refinery is ready for commissioning with the completion of the precommissioning tests. With the satisfac<strong>to</strong>ry inspection by DPR, the facility is ready for start-up and we are aiming for August 2020.” He stated that the construction of the $12 billion Dangote Refinery, which has the capacity <strong>to</strong> refine 650,000 bpd, has reached 71 percent completion.'' President of Dangote Group, Mr. Aliko Dangote, had stated: “One of the reasons the CBN is supporting us is that by the time we become operational, we will not only be creating jobs, but also reducing the outflow of foreign exchange, not only in petroleum products but also in petrochemicals and fertilisers.” ‘’The journey <strong>to</strong> shift from a crude oil business model in<strong>to</strong> a refining business model has begun in earnest. From where we sit, we are seeing some traction <strong>to</strong>wards this goal and we are ready <strong>to</strong> partner with credible project promoters in achieving this target. “We are proud that we have used this project <strong>to</strong> demonstrate that government policies regarding modular refineries are doable and we have put strategies in place <strong>to</strong> replicate similar projects elsewhere. Laundering Prohibition Act, 2011. The former AGF was also accused of making “structured cash payments, in 22 tranches” amounting <strong>to</strong> N80 million, another of such structured payments in 13 tranches summing up <strong>to</strong> N50 million in<strong>to</strong> his Unity Bank account. He was granted bail by the Federal High Court in Abuja on February 10, 2020, for N50million with one surety in like sum. The court has however fixed August 11, 12, and 13 for the trial of the former AGF and Mr. Abubakar. We’re ready <strong>to</strong> risk our lives <strong>to</strong> fight corruption — Reps By Tordue Salem ABUJA—THE Minority Caucus of the House of Representatives, has vowed <strong>to</strong> expose cases of corruption in the country, even at the risk of its members’ lives. The leader of the Caucus, Ndudi Elumelu (PDP-Delta) in a statement yesterday made the vow, on behalf the Minority lawmakers in the House. The lawmaker was responding <strong>to</strong> allegations by a chieftain of the All Progressives Congress that the Caucus was lagging in calling attention <strong>to</strong> issues of graft in the incumbent administration. “The attention of the Minority Caucus in the House of Representatives has been drawn <strong>to</strong> a statement credited <strong>to</strong> the former Deputy National Publicity Secretary of the APC, Comrade Timi Frank, accusing the opposition lawmakers in the National Assembly of being indifferent and silent in the ongoing investigations in<strong>to</strong> allegations of corruption against <strong>to</strong>p government officials in Ministries, Departments and Agencies of government. “Such accusation is unfortunate, misleading, undeserving and uncharitable <strong>to</strong> the minority caucus in our manifest efforts <strong>to</strong> expose corruption and holding this administration accountable. “Opposition lawmakers in the National Assembly have never and will never compromise or shy away from its legislative duties at any time, even at the risk of their lives,” he stated.
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