Business
How Polo Solutions, Other Agencies exposed MTN alleged dollarization of Nigeria’s economy in suit filed by telecom giant
Polo Solutions Projects Ltd, Awoyale Raphael Abayomi and Awoyale Temitayo Adekunmi all defendants in Suit No: LD/9999 GMW/2023 instituted by MTN have filed a written address in support of their preliminary objection seeking an order of the Honourable Court to strike out and/or dismiss this suit for lack of jurisdiction
According to the preliminary objection filed by their counsel, AYOOLA B. OKE ESQ., of Ayoola Babatunde Oke & Co, the grounds upon which the Preliminary Object is brought as follows:
The Claimants hold that Honourable Court lacks jurisdiction to hear this suit being a suit to enforce a criminal act specifically criminalized by the combined provisions of Sections 15 and 20(5) of the Central Bank of Nigeria Act:
Section 15 The unit of currency shall be the Naira which shall be divided into one hundred kobo while Section 20(5) also states “A person who refuses to accept the Naira as a means of payment is guilty of an offence and liable on conviction to a fine of =N=50,000.00 or 6 months imprisonment: Provided that the Bank shall have powers to prescribe the circumstances and conditions under which other currencies may be used as medium of exchange in Nigeria”
According to the counsel defendants, the document pleaded by the Claimant as MTN1 is the contract between the parties and clearly states in paragraph 6.3 that all invoices shall be denominated in Naira and it is therefore surprising that the Respondent started to demand payment in Dollars in breach of its contractual term, without first seeking and executing an amendment to the contract.
“We note that from all the documents pleaded by the Claimant particularly the Notices of Demand issued by the Claimant and replies from the Defendant that the main issue is not the payment but the question of in what currency? In fact, it is clear that the Respondent was paid in Naira but it rejected the payment and offered to return the payment made but reneged on this offer as soon as it was accepted thus holding on the funds of the Applicant while applying self-help to disconnect its and destroy its business”.
That the pleadings of the Claimant do not disclose any reasonable cause of action as nowhere in the Interconnect Agreement which is the contractual agreement between the parties is the Defendant mandated to pay the Claimant in Dollars
The issues for determination according to counsel to the defendant are as follows:
“If by the correct Interpretation of Sections 15 and 20 of the Central Bank (CBN) Act the demand (and insistence) by the Respondent for the Applicant to pay it in Dollars rejecting payments made in Naira for a transaction carried out in Nigeria and between two Nigeria companies does not amount to a criminal offence, an illegality.
“Whether the Central Bank of Nigeria has duly and lawfully exercised its powers to grant exception under the proviso to Section 20(5) by purported grant to the Respondent without any valid and binding instrument.
“If the loss suffered by the Applicant as a result refusal of the Respondent to comply with the law and if the parties are not bound by their contract subject to renegotiation”.
Reinforcing its earlier stance on the issues of law, the claimant relied on Sections 15 and 20 of the Central Bank of Nigeria Act states as follows:
“The unit of currency shall be the Naira which shall be divided into one hundred kobo.“
20 (1) The currency notes issued by the Bank shall be legal tender in Nigeria at their face value for the payment of any amount.
20 (5) A person who refuses to accept the Naira as a means of payment is guilty of an offence and liable on conviction to a fine of =N=50,000.00 or 6 months imprisonment:
Given that there is no ambiguity in the provisions of the Section 15 and 20 of the Central Bank of Nigeria Act and the Board of CBN has not in any way modified this provision we submit that the Applicants are entitled to the reliefs sought.
The claimants “contend that the Respondent acted in bad faith and note that it is trite law that parties are bound by their contracts.
“In this case the parties are two Nigeria Network Service providers that entered into an interconnect contract agreeing that consideration should be denominated in Naira in line with the provisions of the Nigerian Law specifically CBN Act yet one party, the Respondent decided to unilaterally refuse payment in Naira, an act prohibited by the extant law.
“We humbly pray that this honourable court grants the requested reliefs as prayed by upholding this Preliminary Objection and dismiss this suit with substantial cost”, Ayoola B. Oke Esq. implores the court.
Business
31 electricity towers affected as vandals destroy transmission lines in Edo communities
The Transmission Company of Nigeria (TCN) says vandals in Benin, Edo state, have destroyed 31 transmission towers.
In a statement on Friday, Ndidi Mbah, TCN’s director of public affairs, confirmed that vandals attacked transmission towers in Okada and Ofosu communities along the 330kV Benin-Egbin and Benin-Omotosho transmission lines.
Mbah said the vandalised towers, which suffered significant damage with critical components removed earlier in November, were discovered by TCN linesmen during a routine patrol.
“A total of 31 towers were affected in this incident,” she said.
“TCN engineers from the Benin Sub-Region have initiated repairs to prevent the collapse of the affected towers and to avoid disruption of bulk power supply.”
‘AHOADA-YENAGOA LINE UNDER REPAIR TARGETED BY VANDALS’
Mbah also said its Ahoada-Yenagoa 132kV line, which was under repair following a previous attack, was once again targeted by vandals.
The TCN spokesperson confirmed that the attack, which occurred on November 19, affected towers 29 to 31 and resulted in the theft of approximately one-third of the conductor.
On August 14, TCN announced that Bayelsa state would face a prolonged power outage following the destruction of 13 transmission towers along the Ahoada-Yenagoa 132kV double circuit transmission line by vandals.
The transmission company, on October 29, reported that 65 percent of the damaged transmission towers had been repaired.
The company said 17 transmission towers had been successfully erected, with work continuing on the remaining three.
“A team of TCN engineers, led by Engr. Emmanuel Akpa, General Manager of the Port Harcourt Region, has conducted an inspection of the site,” the statement reads.
“Preliminary findings indicate that the incident occurred at night. In an attempt to prevent further theft while repair arrangements are being made, local security has been engaged at Ula Ikata in Ahoada East LGA to secure the site until repairs are completed.
“Additionally, the line will be energized from the Ahoada end as a preventive measure.”
Mbah added that efforts are underway to replace the stolen 250mm conductor.
Despite challenges posed by difficult terrain and flooding, she said the restringing of the Ahoada-Yenagoa 132kV line is approximately 85 percent complete.
The public relations officer stressed that the incidents underscore the urgent need to address the growing problem of vandalism and theft, which continue to affect Nigeria’s power infrastructure.
She urged the public to support efforts to tackle such criminal acts, which have hindered the expansion and stability of the national grid.
Mbah also called on security operatives and local communities to remain vigilant in protecting power infrastructure in their areas as TCN intensifies its efforts to safeguard its installations.
Business
NCAA issues aerodrome certification for Lagos, Abuja international airports
The Nigeria Civil Aviation Authority (NCAA) has issued Aerodrome Certification for Murtala Muhammed International Airport in Lagos and Nnamdi Azikiwe International Airport in Abuja.
This recertification is a significant achievement, highlighting the ongoing improvements in the safety standards of Nigeria’s international airports.
The announcement was conveyed via a post on the official X (formerly Twitter) account of the Federal Airports Authority of Nigeria (FAAN) on Friday.
The Aerodrome Certificates were formally presented to the Managing Director/Chief Executive of FAAN, Mrs. Olubunmi Kuku, by the Acting Director General of the NCAA, Capt. Chris Najomo.
“@NigeriaCAA just issued Aerodrome Certification for the Murtala Muhammed International Airport Lagos and the Nnamdi Azikiwe Airport Abuja. The recertification is a major boost and attestation to the continued improvements of the safety standard of our Airports,” the tweet read in part.
The certification confirms that Lagos and Abuja airports adhere to the strict safety, operational, and technical standards of the International Civil Aviation Organization (ICAO). This milestone is anticipated to enhance trust among domestic and international airlines, strengthening Nigeria’s standing in global aviation.
Business
Lagos state government plans traffic diversion in Ikeja for 10km Capital City Race today
The Lagos State Government has announced plans for a traffic diversion to accommodate the 10km Capital City Race scheduled for Saturday, November 23, 2024.
The race, which runs between 5:00 AM and 11:00 AM, will affect several major roads in the Ikeja axis, requiring motorists to explore alternative routes during the event.
A statement published on the official X (formerly Twitter) account of the Lagos State Commissioner for Transportation, Oluwaseun Osiyemi, on Friday, highlighted the affected routes.
These include Shoprite Alausa, Billings Way, Kudirat Abiola Way, Opebi Link Bridge, Allen Avenue, Adeniyi Jones, and Oba Akran Avenue.
The race will conclude at the Police College Sports Secretariat/Gym. Junctions and intersections along these roads will be temporarily blocked and manned by officials from the Lagos State Traffic Management Authority (LASTMA), the Nigeria Police Force (NPF), the Federal Road Safety Corps (FRSC), and the Lagos State Neighborhood Corps (LSNC) to ensure a smooth event.
“The Lagos State Government has announced that traffic will be diverted to accommodate the maiden edition of the 10-kilometer Capital City Race between 5:00 am and 11.00 am tomorrow Saturday, 23rd November, 2024.
“To this end, the following route starting from; Shoprite Alausa Ikeja inwards Billings Way to Kudirat Abiola Way, Opebi Link Bridge, Opebi Glo Tower inward Allen Avenue, Allen Junction, GTBank on Adeniyi Jones, AP Filling Station on Oba Akran Avenue, Samsung Authorized Service Centre to Police College Sports Secretariat/Gym will be partially closed off to vehicular movement.
“Consequently, all junctions and intersections from Shoprite Alausa Ikeja to the destination (Police College Sports Secretariat/Gym) will be blocked with barriers, manned by LASTMA, NPF, FRSC, and LSNC to prevent other road users access to the main race corridor,” the statement read in part.
The Lagos State Commissioner for Transportation urged motorists to remain patient as the road closures are part of the traffic management plan for the event. He added that intersections will be intermittently reopened as the race progresses to minimize inconvenience for road users.
Motorists are advised to plan their movements accordingly and cooperate with traffic officials to ensure the success of the inaugural Capital City Race.
In addition to the planned traffic diversion in Ikeja for the 10km Capital City Race, other traffic diversions are currently in effect across Lagos to accommodate critical infrastructure projects.
The Lagos State Government recently announced a 15-month traffic diversion at Mile 2, which began on November 11, 2024, to facilitate the construction of the new Transport Interchange Terminal. This project aims to integrate rail, bus, water, and non-motorized transport, addressing the city’s growing transportation needs.
The diversion affects Loop 1 on the Apapa-bound lane and Loop 4 on the Badagry-bound lane and will last until February 16, 2026. Motorists are advised to use alternative routes, such as Akinwande Road for Badagry-bound traffic and Durban Road for Apapa-bound traffic, to ease congestion.
Additionally, a three-month traffic diversion on the Marine Bridge, outbound Apapa, commenced on Monday, November 18, 2024. This diversion, set to run until February 25, 2025, is to allow for urgent asphalt repairs overseen by the Federal Ministry of Works.
Motorists heading toward Lagos Island are advised to use the Eko Bridge via Costain Roundabout, while those heading to Ijora Causeway or Iddo can navigate through Ijora 7up or other designated routes.
These diversions are part of ongoing efforts by the Lagos State Government to improve transportation infrastructure while minimizing disruption for road users.
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