Business

Tambuwal Rejects SSS Overture On $620,000 Bribe

Published

14 years ago

June 18, 2012

House Speaker Aminu Tambuwal, has rejected a plea by security agents to help retrieve the $620,000 cash businessman Femi Otedola gave a lawmaker, Farouk Lawan.

The police have asked Lawan, chairman of the ad hoc committee which probed the multi-billion naira fuel subsidy scandal, to surrender the cash, which he admitted collecting. But the lawmaker says he will not give up the evidence that Otedola bribed him against his wish.

Besides, he has not shown up at the police Special Task Force (STF) probing the matter to say all he knows about the bribe.

Tambuwal is said to have rejected the request because, according to sources, “he does not want to be roped in”.

The Speaker was said to have been suspicious of why security agencies were mounting pressure on him to get the cash from Lawan.

A legislative aide said: “The Speaker turned down the request because security agencies might come up with a theory that Lawan kept the bribe with Tambuwal.

“Although the security agencies were not happy with the Speaker’s attitude, the man said as a lawyer he has enough experience to know what could happen when you are turning in evidence.

“He has fears that with a little shred of evidence, he might be roped in.”

The police yesterday reached out to principal officers of the House and influential members of the ruling Peoples Democratic Party (PDP) to prevail on Lawan to appear before it today or face the consequences.

The House and the Police were involved in a hide and seek game yesterday.

The House said on June 6 it struck an unwritten agreement with the police hierarchy that Lawan could only be available in two weeks after it might have concluded its internal investigation into the matter.

A source said in the presence of the principal officers of the House, the police hierarchy communicated the agreement to the investigating desk.

Ahead of the police final decision on Lawan today, there were indications that five to 10 more lawmakers might be invited by the police based on audio tape of the conversation between Otedola and Lawan.

The Tide source learnt that the police may crack down on Lawan today, if he refuses to honour police invitation.

A source said: “We have sent emissaries to Lawan; they are talking to him to honour police invitation. We are hopeful that this persuasion will work.

“Let us see how it will go, but I think by the end of Thursday, Farouk must have chatted with the Police. We are just trying to be civil.”

But a member of the House said: “When some of our principal officers met with the police team on June 6, they asked the hierarchy to give them two weeks to investigate the allegation before asking Lawan to report for interrogation by the STF.

“The principal officers were obliged the two-week request. That is why Lawan has not appeared before the STF. We are only honouring our own part of the unwritten agreement.”

The source went on: “That claim by some lawmakers appears strange because Lawan is in the country for his recess. We are not aware of any agreement. With the international dimension the matter has taken, does he need two weeks to report to the police to make a statement?

“We have reached out to the House leadership through eminent Nigerians to allow Farouk to come to the police. That is the latest on this matter; let Farouk Lawan honour the police.”

It was learnt that the House leadership was battling last night to find a solution to the issue between it and the police.

A member of the House from the North East said: “For hours, Farouk Lawan met with Tambuwal and principal officers at the Speaker’s residence on Wednesday on how to handle police invitation.

“A solution is being found in such a manner that it will not affect our relationship with the police. Let them be patient.”

It was also learnt that five to 10 members of the House might also be invited by the police based on the audio and video tapes which were being shown some key House members yesterday.

The police source added: “Yes, we may invite more lawmakers, but we want to hear from Lawan first; that is the logical order. Let everybody talk to him to report by Thursday or else it may be a different story.”

The ongoing investigation has, however, created panic among House members following the rush to watch the video tape of the Otedola-Lawan game and listening to the audio tape by lawmakers

A source said: “From the tape, the negotiation was higher Otedola did not start video-taping, until when the rate was reduced to $5million. Later Otedola reduced it to $3million.

“There was another interesting aspect where Otedola told Lawan that the balance of the $3million was ready and the oil baron was asked to fly in the balance.

“Otedola said as soon as he got to Abuja , he would call Lawan but the lawmaker could be heard loudly saying: ‘It is possible we might be in the chamber but I will give you the number of a trusted hand… (A member of the House).

“The said member, who was a union activist before his election, was said to have come from a Yoruba speaking area in the North-Central zone of the country.”

Business

NCDMB Signs Mgt Deal With Radisson, Edison…As Board’s 204 Rooms Hotel Open December 2026

Published

6 hours ago

March 9, 2026

The Tide

The Nigerian Content Development and Monitoring Board (NCDMB), on Monday signed an international management agreement (IMA), with Radisson Hospitality, Belgium and Edison Hotel and Property Development Company with respect to the Board’s 204 rooms hotel and conference center, developed adjacent to the Content Tower, headquarters of the NCDMB in Yenagoa, the Bayelsa State.

A statement by the Board’s Directorate of Corporate Communications says the management agreement was signed in Durban, South Africa by the Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe, Executive Chairman of Edison Corporation, Mr. Vivian Reedy and Director of Radisson, Mr. Garnier Erwan.

Giving assent to the agreement, Ogbe affirmed that discussions, reviews, and compliance requirements have lasted for over two years, and that the Board secured the approval of all key stakeholders, including the Attorney?General of the Federation and Minister of Justice, Lateef Olasunkanmi Fagbemi, SAN.

“The support of stakeholders ensured that the Agreement meets Nigeria’s legal and regulatory standards.The aspiration of the NCDMB is to deliver a world?class hotel in Yenagoa, Bayelsa State with a fully equipped conference centre—designed to serve the oil and gas industry stakeholders and the Nigerian public”, he said.

He pledged the NCDMB’S commitment to completing the hotel on schedule time and achieving the opening in December, 2026.

“We appreciate our responsibilities—construction quality, pre?opening readiness, funding, safety and security compliance, and maintaining Radisson’s global standard. We will do our best to meet our obligations”, Ogbe added.

The Board’s Scribe charged the Hospitality firm to bring its expertise, systems, and brand strength to deliver a hotel that offers excellent service and guest experience, expressing hope that the partnership with Edison Hotels will create a facility that reflects global quality and supports Bayelsa’s position as an oil and gas hub.

“This project reflects NCDMB’S commitment to using strategic investments to boost productivity, attract investment, build local content, and expand opportunities for business and tourism in Nigeria when completed.

“Radisson Hotel and Conference Center Yenagoa will stand not only as a hotel, but also as a symbol of what strong partnerships can achieve”, Ogbe noted.

In his remarks, Executive Chairman of Edison Corporation, Vivian Reedy described the organisation’s role as a bridge between the owner and the operator, highlighting the group’s intensive experience in the hotel industry, and determination to ensure alignment, transparency, accountability and performance.

“We understand that a successful hotel is not just about buildings. It is about disciplined management, strong oversight, brand integrity, and a shared commitment to excellence.

“Part of our firm’s responsibility is to ensure that the hotel is delivered, operated, and managed in a manner that protects and announces the owner’s investment, while fully supporting Radisson in achieving operational excellence”, he said.

The Edison boss assured that working closely with Radisson and NCDMB’s team, the Radisson Hotel and Conference Center, Yenagoa will become the leading hospitality and conference destination in Bayelsa State, saying it is catalyst for business and investment, and a symbol of quality professionalism and international standards.

He emphasized that the firm has had wonderful successes with Radisson in other locations, even achieving 95% occupancies, noting that the company’s approach is to strengthen governance, support performance, and ensure the interests of the owners are always safeguarded.

“This project represents more than a hotel. It represents a partnership, a trust, and a long-term vision for sustainable value creation. We thank Radisson for its global expertise and operational excellence.

“Edison is fully committed to ensuring that the asset performs strongly, operates efficiently, and delivers lasting value to its owner”, the firm said.

In his speech, the Attorney-General of the Federation Chief Lateef Fagbemi, SAN, representative by Mr. Wada Ahmed Wada described the signing ceremony as historic and wished the parties success in their business relationship.

By Ariwera Ibibo-Howells, Yenagoa

Business

FG engages foreign investors at PEBEC Roundtable on business environment reforms

Published

6 hours ago

March 9, 2026

The Tide

Senior government officials and foreign investors operating in Nigeria met in Abuja on Thursday as the Presidential Enabling Business Environment Council (PEBEC) convened the Third Existing Foreign Direct Investors (FDI) Roundtable to address challenges affecting the country’s investment climate.

The high-level engagement, held at the Banquet Hall of the Presidential Villa, brought together top policymakers and representatives of foreign companies for discussions aimed at improving Nigeria’s business environment and strengthening investor confidence.

The roundtable forms part of PEBEC’s efforts to deepen collaboration between government institutions and the private sector while ensuring that ongoing reforms translate into tangible improvements for investors already operating in the country.

Opening the session, Senator Ibrahim Hadejia, Deputy Chief of Staff to the President, welcomed participants on behalf of the Vice President and Chairman of PEBEC, reiterating the Federal Government’s commitment to maintaining a stable and transparent business environment that supports investment and economic growth.

In her remarks, the Director-General of PEBEC, Princess Zahrah Mustapha Audu, said the council remains committed to sustained engagement with investors and coordinated implementation of reforms across government agencies.

She noted that existing foreign investors play a critical role in Nigeria’s economic development through job creation, capital investment, technology transfer, and supply chain development.

According to her, PEBEC’s engagement strategy prioritises listening to investors already operating in the country in order to identify and address operational challenges affecting their businesses.

The roundtable featured presentations and interactive discussions with senior government officials responsible for regulatory and policy frameworks affecting investors.

Among them were the Executive Chairman of the Nigeria Revenue Service, Dr. Zacch Adedeji; the Comptroller-General of the Nigeria Customs Service, Bashir Adewale Adeniyi; and the Inspector-General of Police, IGP Olutunji Rilwan Disu.

Also participating virtually was Mr. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms and Minister of State for Finance-designate, who spoke on ongoing fiscal and tax reform initiatives aimed at improving tax certainty and strengthening revenue administration.

During the discussions, investors raised technical questions and shared insights on issues relating to security, tax administration, customs procedures and fiscal policy reforms.

Business

MAN warns against illegal recycling of File photo

Published

6 hours ago

March 9, 2026

The Tide

The Manufacturers Association of Nigeria has warned against the illegal destruction and recycling of returnable packaging materials belonging to beverage companies, following a recent police crackdown on illegal factories in Anambra State.

Earlier in February, the Nigeria Police Force, working with beverage manufacturers, reportedly raided several illegal facilities in Onitsha and surrounding areas, where individuals allegedly destroyed returnable glass bottles and plastic crates belonging to beverage companies.

In a statement on Friday, the Director-General of the Manufacturers Association of Nigeria, Segun Ajayi-Kadir, condemned the destruction of these packaging materials as unauthorised and economic sabotage against businesses, and hailed the efforts of the police and regulatory agencies.

“The recent raid is the outcome of sustained engagements and intelligence-led investigations and represents a decisive step by authorities to protect legitimate business operations, uphold environmental standards, and deter further illegal activity,” Ajayi-Kadir said.

The MAN DG described the practice “as criminal and a serious economic sabotage… as assets remain the property of beverage companies that have invested heavily in these sustainable packaging materials to protect the environment”.

According to a Vanguard News report, the Executive Secretary of the Beer Sectoral Group of the Manufacturers Association of Nigeria, Abiola Laseinde, commenting on the February crackdown on alleged factories in Anambra, stated that, “The recent raid is the outcome of sustained engagements and intelligence-led investigations… a decisive step by authorities to protect legitimate business operations, uphold environmental standards and deter further illegal activity.”

Ajayi-Kadir confirmed the earlier news reports, affirming that the police acted on credible intelligence to dismantle illegal operations involving the theft, destruction, and unauthorised recycling of companies’ returnable packaging materials.

He stated that the association received reports from member companies that some factories were destroying company-owned bottles and crates for resale as raw materials, resulting in businesses losing millions of naira in investments.

“The police, working with member companies, acted on credible intelligence and stormed the factories to crack down on illegal disposal, theft, and unauthorised recycling of the returnable packaging materials of the affected companies, notably returnable glass bottles and plastic crates,” Ajayi-Kadir said.

Ajayi-Kadir added that investigations revealed that large quantities of bottles and crates were diverted from legitimate channels into informal recycling networks across the South-East.

“Member companies identified multiple illegal locations in the South-East where they crush our bottles and crates for resale as raw materials, while police investigations showed that significant quantities were being diverted from legitimate channels into informal recycling networks,” MAN’s DG said.

He noted that in several cases, reusable bottles were deliberately broken and plastic crates shredded and sold as raw materials, thereby undermining beverage companies’ circular packaging model.

He remarked, “These Returnable Packaging Materials are company-owned assets designed for multiple reuse cycles and form a critical part of their sustainability, cost-efficiency, and product quality systems. It’s a criminal activity to destroy them.”

Meanwhile, Ajayi-Kadir warned those involved in the illegal practice to desist, stressing that the association would continue to collaborate with law enforcement agencies to ensure offenders face the full weight of the law.

He added that beyond the direct loss of assets, the activities disrupt supply chains, raise operational costs and pose environmental and safety risks due to unsafe recycling practices.

MAN urged relevant government agencies to intensify efforts against the illegal diversion and destruction of returnable packaging materials outside the beverage industry’s value chain.

MAN’s DG also called on members of the public to report suspicious activities to the police or to the consumer care lines of beverage companies.