Business
Diri Goes Int’l With Environmental Justice Campaign …Seeks Remediation For Polluted Oil Communities
Bayelsa State Governor, Senator Douye Diri, has again taken his campaign for environmental justice for oil-ravaged communities in his state and the Niger Delta region to the international community.
Towards this end, the governor met with the Secretary-General of the Commonwealth, Baroness Patricia Scotland, at its secretariat in London, saying the body’s intervention was needed to successfully implement the report of the Bayelsa State Oil and Environmental Commission (BSOEC) titled: ”An Environmental Genocide: Counting the Humanitarian and Environmental Cost of Oil in Bayelsa, Nigeria”.
It would be recalled that prior to Governor Diri’s ascension into office, his predecessor, Henry Seriake Dickson, unveiled a commission of inquiry on oil and gas related environmental hazards.
The 216-page report of the Commission, which was chaired by the former Archbishop of York, Lord John Sentamu, was launched in May 2023 at the House of Lords in London.
Governor Diri in a statement by his Chief Press Secretary, Mr. Daniel Alabrah, was quoted while presenting the report to Baroness Scotland saying International Oil Companies (IOCs) operating in the state were divesting and exiting the Niger Delta without any concrete plan to remediate and compensate host communities polluted by their exploration activities.
He faulted the 13 percent derivation to oil-producing states and the federal laws on oil and gas exploration in Nigeria, appealing to the Commonwealth to support efforts to address the environmental injustice that oil-bearing communities had been subjected to.
Diri said his administration was open to dialogue to prevent a double jeopardy for the communities as well as exploring the legal option, if dialogue failed.
“The Commonwealth’s dedication to environmental protection is crucial, and we are eager to collaborate in addressing these pressing issues together. We are here because we can achieve so much in terms of the environmental challenges we face by collaborating with your office.
“We’re also here because your intervention will attract the attention of our Federal Government back home. The recommendations of the BSOEC report will be implemented not only by our state, but there are also aspects that require our Federal Government’s action.
“As a sub-national government, there is little we can do to ensure the implementation of this report. The oil and gas resources underneath our soil belong to the Federal Government”, he said.
The Governor continued that “Bayelsa State has endured catastrophic environmental degradation due to decades of oil exploration, transforming our once vibrant region into one of the most polluted places on earth.
“The health implications for our people are severe, with reduced life expectancy and increased neonatal deaths. We cannot ignore the human cost of this environmental crisis. I often wonder if the oil underneath our soil had become a curse or a blessing”.
He expressed the state’s concern about Shell’s planned divestment from its onshore operations.
“It is imperative that this transition does not allow the company to walk away from the environmental devastation it has caused over the years.
“We urge Shell to commit to a comprehensive clean-up and remediation plan before exiting, ensuring that the people of Bayelsa are not left to shoulder the burden of this disaster alone.
“We expect that a responsible international business organisation such as Shell would set aside funds to restore the environment in advance of its divestment”, the Bayelsa State Chief Executive lamented.
He also noted that the State Government had previously reached a negotiated settlement with Shell on dispute issues that involved tenement rates for the Gbarain gas processing facility and looks forward to opening similar discussions on this issue.
“We’re also exploring legal avenues to halt Shell’s divestment until adequate measures for environmental restoration are firmly in place. We must protect our communities and their future”, he said.
In their remarks, Lord Sentamu, another BSOEC member, Dr. Kathryn Nwajiaku-Dahou, and Chairman of the Bayelsa State Traditional Rulers Council, King Bubaraye Dakolo, urged the Commonwealth to take steps to halt the “environmental genocide” in Bayelsa in particular and the Niger Delta in general.
They reasoned that the continued crude oil pollution of rivers and the flaring of gas constituted “landmines” to the health and livelihoods of people of the state and the region.
The Bayelsa State Attorney-General and Commissioner for Justice, Mr. Biriyai Dambo, SAN, who also spoke, highlighted the inadequacies in the Petroleum Industry Act 2021 in addressing the issue of environmental degradation and compensation for host communities.
Dambo said the PIA centralises control of the oil and gas sector, reinforcing the Federal Government’s authority over natural resources, with minimal consideration for the needs and rights of communities and states where the resources are located.
“The lack of substantial decision-making power for local communities and state governments further entrenches their marginalisation and leaves little room for states to influence policy, or benefit from the resources extracted within their borders”, the Attorney-General said.
Responding, the Commonwealth Secretary-General, Baroness Scotland, thanked the Governor and his delegation for the visit, their presentation and the report, which she said had shed more light on the oil-rated issues in Nigeria and Bayelsa.
She noted that oil exploration in Nigeria presented an interesting scenario as the Federal Government holds majority stakes in the joint venture arrangement in place.
“So, this is not only about Shell alone. This is something that is politically complex and as an institution it is essential for us to promote best practices, which in this case can be found in the Oil and Gas Decommissioning toolkit that we have developed. And through the promulgation of best practices, it can help to provide better clarity when the conversations with the Nigerian Federal Government take place.
“It can also help in relation to regulation and when dealing with offsetting the threats that might arise from the multi-lateral and multinational companies”, she said.
Scotland added that a team will examine the report and proffer appropriate recommendations that will guide all parties concerned.
Ariwera Ibibo-Howells, Yenagoa
Business
FIRS Clarifies New Tax Laws, Debunks Levy Misconceptions
Business
CBN Revises Cash Withdrawal Rules January 2026, Ends Special Authorisation
The Central Bank of Nigeria (CBN) has revised its cash withdrawal rules, discontinuing the special authorisation previously permitting individuals to withdraw N5 million and corporates N10 million once monthly, with effect from January 2026.
In a circular released Tuesday, December 2, 2025, and signed by the Director, Financial Policy & Regulation Department, FIRS, Dr. Rita I. Sike, the apex bank explained that previous cash policies had been introduced over the years in response to evolving circumstances.
However, with time, the need has arisen to streamline these provisions to reflect present-day realities.
“These policies, issued over the years in response to evolving circumstances in cash management, sought to reduce cash usage and encourage accelerated adoption of other payment options, particularly electronic payment channels.
“Effective January 1, 2026, individuals will be allowed to withdraw up to N500,000 weekly across all channels, while corporate entities will be limited to N5 million”, it said.
According to the statement, withdrawals above these thresholds would attract excess withdrawal fees of three percent for individuals and five percent for corporates, with the charges shared between the CBN and the financial institutions.
Deposit Money Banks are required to submit monthly reports on cash withdrawals above the specified limits, as well as on cash deposits, to the relevant supervisory departments.
They must also create separate accounts to warehouse processing charges collected on excess withdrawals.
Exemptions and superseding provisions
Revenue-generating accounts of federal, state, and local governments, along with accounts of microfinance banks and primary mortgage banks with commercial and non-interest banks, are exempted from the new withdrawal limits and excess withdrawal fees.
However, exemptions previously granted to embassies, diplomatic missions, and aid-donor agencies have been withdrawn.
The CBN clarified that the circular is without prejudice to the provisions of certain earlier directives but supersedes others, as detailed in its appendices.
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