News

Vigeo Legal Advisers Write NERC, Caution Against ‘Illegal’ Takeover Of BEDC

Published

2 years ago

September 3, 2022

Legal advisers to Vigeo Power Limited, the core investors in Benin Electricity Distribution Company, BEDC Plc have cautioned the Nigerian Electricity Regulatory Commission (NERC) to refrain from “illegal means to alter the composition of the board of directors of the company (BEDC).”

INFO DAILY had reported that NERC, in a letter issued September 1, 2022, had said it had affirmed a new Board of Directors and Management of the Benin Electricity Distribution Company, BEDC, headed by Henry Ajagbawa

The NERC in the said statement had reiterated that the BEDC “is a distribution licensee of NERC and by virtue of powers vested in the Commission by the Electric Power Sector Reform Act (“EPSRA”), regulatory instruments issued pursuant to EPSRA and the terms and conditions of the licence issued to BEDC; NERC is the primary authority that is vested with powers to statutorily recognise the board/management of BEDC as an operator in the Nigerian Electricity Supply Industry (NESI)”.

The Commission further stated that the BEDC is a jointly owned venture with Vigeo Power Ltd holding an equity of 60% and 40% being held by BPE on behalf of the Federal and State Governments.

The statement disclosed that “One of the shareholders in Vigeo Power Ltd, Vigeo Holdings Ltd, subscribed to its shares vide a loan from Fidelity Bank Ltd”, adding that “In the light of a default in servicing the said loan, the bank has exercised its rights to repossess these shares that were provided as security for the acquisition of the loan”.

But in a letter written to NERC and attention to Chairman of NERC, Engr. Sanusi Garba and Mr. Dafe Akpeneye, with the headline, “RE: NOTICE TO THE GENERAL PUBLIC ON THE LEGITIMATE AND STATUTORILY RECOGNISED BOARD OF DIRECTORS /MANAGEMENT OF BEDC ELECTRICITY PLC,” a copy of which was made available to INFO DAILY, Kunle Adegoke, SAN, said though the letter said to have emanated from NERC was unsigned, it is contemptuous for the regulatory body to have done any publication when the matter is already in a court of competent jurisdiction.

Adegoke, SAN, noted in the letter: “Whilst we have assumed that the Contemptuous Publication did not emanate from NERC, not least because it is unsigned, and will amount to a direct affront to the court (for the reasons stated below), we are, out of abundance of caution, and for the avoidance of doubt, constrained to state as follows:

“We are aware that the Commission is conscious of the fact that NERC is the 2nd Defendant in Suit No. FHC/ABJ/CS/1113/2022 between Vigeo Power Limited v. Fidelity Bank Plc; National Electricity Regulatory Commission and 6 Ors. which is pending before the Honourable Justice Emeka Nwite of the Federal High Court, Abuja (the FHC Action) and in which orders of injunction have been granted restraining your Commission from: altering or taking further steps towards altering the management and Board of BEDC; registering or recognising the appointment of Messrs K. C. Akuma, Adeola Ijose, Henry Ajagbawa and Yomi Adeyemi as directors of BEDC pending the determination of the Motion on Notice which is scheduled to be heard on the 5th day of October, 2022.”

Adegoke SAN further argued that, “It is self-evident that the said interim orders are extant and have continuous effect, and none of the acts restrained thereby can be said to have been completed, particularly in view of the present and futuristic effect of the orders.”

According to him, “As NERC is very well aware, the pendency of the FHC Action is sufficient to compel any law-abiding institution (particularly a public institution under the administration of President Muhammadu Buhari, who seeks to promote the primacy of Rule of Law) to act with restraint, and not to project an image of lawlessness to the general public by acting contrary to the orders of the court and violating the sanctity of pendency of proceedings which both amount to contempt of court.

“We also note the inaccurate analysis of the effect of the court order in the Contemptuous Publication. Being a party to the FHC Action, the appropriate step to be taken by NERC is to ventilate its grievance with the order before the court, and not denigrate it, as has been purportedly done in the Contemptuous Publication.

“It is on record that whilst NERC is represented by counsel in the FHC Action, it has not (at least as of the last sitting of the Court on the 22nd day of July, 2022) filed any process in the suit and neither has it filed any application to seek that the orders of court were wrongly procured or to have the Court set same aside.”

“We further note the assertion in the Contemptuous Publication that the security created over the shares of one of our client’s shareholders had been enforced, and that the Commission acted in accordance with its business continuity rules.

“In connection with the issue of the security over the shares, we wish to reiterate that the matter is currently the subject of an action before The Hon. Justice Bogoro in FHC Lagos, and the Commission will do well not to comment on an issue that is sub judice. And with respect to the putative powers of NERC to remove directors of licensees, the Commission should be reminded that the power was struck down and declared unlawful in the case of FHC/ABJ/653/2018 – Ibadan Electricity Distribution Company v Minister of Power & NERC.

“As previously mentioned, we feel certain that no law-abiding public officer or public institution could have authorised the issuance of unsigned Contemptuous Publication. If the Contemptuous Publication is being wrongly attributed to the Commission, we urge the Commission to publicly disassociate itself from the publication.”

“However, in the unlikely event that the Contemptuous Publication was authorised by NERC, the Commission should be reminded of the grave consequences that follow disobedience of court orders.

“In this regard, the Commission should also be reminded of the contempt proceedings that are currently pending against it in the FHC Action for gross violation of the orders of court and your counsel was in court when the court directed all defendants in the suit to first comply with the orders of court on the 22nd day of July, 2022.”

The lawyer noted that, “We should mention that we are not unaware of the Commission’s plan to collaborate with some elements to invade the premises of BEDC and forcefully impose the illegal directors on the company notwithstanding the absence of authority to impose directors on a company regulated by law. We will urge the Commission to refrain from such action.”

News

Kanye West To Launch Yeezy P0rn Studio With Stormy Daniels

Published

47 mins ago

April 25, 2024

Editor

Ye, the musical artist formerly known as Kanye West, 46, is considering the idea of launching a pornography studio as his latest non-musical project.

According to a new report by TMZ, Ye and his associates are reportedly now in advanced talks with Stormy Daniels’ ex-husband Mike Moz start building a supposed “Yeezy Porn” division, which would fall under the Yeezy parent company.

Moz is a veteran in the adult entertainment industry with over a decade’s worth of experience as a producer. He would reportedly be brought in to lead the new effort, which could launch as early as this summer.

Ye seems to have a complicated relationship with pornography. He wasn’t shy when it came to rapping about his fantasies with women at the start of his career but something shifted about five years ago when he confirmed he converted to Christianity.

During a 2019 interview with Apple Music’s Zane Lowe, West—who served as creative director for the Pornhub Awards in 2018, complete with merchandize, said Playboy magazine was his gateway to a “full-on pornography addiction.”

“My dad had a full-on magazine laid out when I was five,” he told Lowe. “Playboy was a gateway to a full-on pornography addiction. … It has impacted every choice I have made in my life from age five to now.”

Elsewhere in the conversation, which was recorded ahead of the release of his Jesus Is King album featuring the Sunday Service Choir, Ye opened up about how his Christianity changed him.

“Now that I’m in service to Christ, my job is to spread the gospel, to let people know what Jesus has done for me,” said Ye, who was still with Kim Kardashian. “I’ve spread a lot of things. There was a time I was letting you know what high fashion had done for me, I was letting you know what the Hennessey had done for me, but now I’m letting you know what Jesus has done for me, and in that I’m no longer a slave, I’m a son now, a son of God. I’m free.”

In 2022, West wrote in a now-deleted Instagram post that pornography “destroyed” his family.

“Hollywood is a giant brothel Pornography destroyed my family I deal with the addiction instagram promotes it Not gonna let it happen to Northy and Chicago,” he wrote at the time, per Page Six.

A lot has changed between then and now, including Ye’s marriage to Bianca Censori, 29, which happened secretly in December 2022. She’s been photographed a number of times—by Ye and paparazzi alike—in clothing that tests the boundaries of the word “revealing.”.

On his latest album, Vultures, Ye sampled an infamous line from the 1999 film Dogma for his song “Back to Me” where he raps, “Beautiful, big titty, butt-naked women just don’t fall out the sky, you know?”

News

Many Ladies Can’t Cook, Christian Movie Producer, Bamiloye Laments Scarcity Of ‘Wife Materials’

Published

60 mins ago

April 25, 2024

Editor

The Founder of Mount Zion Faith Ministries, Mike Bamiloye, has expressed concern about young people who prioritise wedding ceremonies over preparation for marriage.

In a post on his Facebook page on Wednesday, Bamiloye criticised a trend of young couples rushing into marriage without adequate knowledge or skills.

He wrote, “I am so afraid of youths of this generation. Many are not preparing enough to enter into marriage. Many are very shallow in their knowledge of marriage. They prepare more for the wedding day, than for marriage. No deep studies on what marriage entails. They are too hasty and not ready to sit down and learn the principles of marital life.

“Many ladies are not qualified to be wives, even at 28. They can’t cook properly. They are used to fast food at the eateries, ice cream, indomie, and spagetti, plus boiled eggs and titus, and they spend six months studying the wedding gowns and the accessories for the bridal trails.”

He further emphasised the importance of spiritual grounding, communication, and perseverance in navigating the challenges of marriage.

“My dear sister is 26; she is still not yet wife material. She is beautiful, but she cannot cook. She is not spiritually strong in prayer. And she has a shallow knowledge of the word of God.

“How would she withstand the spiritual challenges that come against every home now? Too materialistic and with very little knowledge of home management. She spent several months preparing for her wedding day, but few moment to study what marriage life is. If love is blind at courtship, it is marriage that will open the blind eyes,” he added.

While condemning domestic abuse, Bamiloye encouraged couples to “sharpen the rough edges” and highlighted the need to address “red flags” during courtship.

He added, “I am against abuse of women and wives. A man who beats or tortures his wife is an animal unfit to live among humans. However, we are now having too many breakings, separations, and divorces among children of God.

“No endurance, no respect, no patience. When things do not go as expected, it becomes incompatibility, and our youths, especially ladies, are being taught to walk out of marriage.

“So today, many young marriages are not fulfilled. Every marriage has its rough edges, but you have to sharpen the rough-edges.

“When you were in courtship, you ought to have noticed some little devilish behaviour in the young man, which the Holy Spirit was pointing to you as a red flag, but you were too much in love, too impatient to get into marriage. What then was the meaning of courtship?”

The PUNCH reported in November 2023, that the Christian movie producer similarly expressed concern about women who, despite appearing pleasant in church, display stubbornness, rudeness, and a lack of submission at home.

News

FG Revokes 924 Dormant Mining Licences

Published

1 hour ago

April 25, 2024

Editor

The Federal Government, through the Ministry of Solid Minerals Development, has revoked 924 dormant mineral licences.

The Minister of Solid Development Minerals, Dele Alake, disclosed this information at a press conference on Wednesday in Abuja.

The revoked licences include 528 exploration licences, 20 mining leases, 101 quarry licences and 273 small-scale mining licences.

Last November, the ministry revoked 1,633 mineral titles previously given to non-complying mining companies.

The minister also promised to clean up the solid minerals sector for international competitiveness and urged all stakeholders who have acted wrongly in this sector to turn a new leaf.

But speaking at the briefing, Alake said the ministry decided after identifying a problem of licence racketeering among players in the sector.

He said, “In line with constitutional provisions, we ensured that adequate notice was given to the concerned parties through the official gazette of the Federal Republic of Nigeria no 227 which was published on December 27, 2023.

“This notice gave all concerned parties 30 days to regularise their status including clarifications on what caused the licence to be dormant.

“In view of the above, which shows our adherence with due process and fair consideration and in line with the standard policy of use it or lose it, I hereby revoke the 924 dormant licences with immediate effect.

“These include 528 exploration licences, 20 mining leases, 101 quarry licences and 273 small-scale mining licences.”