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IOCs Release $200m For Ogoni Clean-Up …As Ogoni Leaders Storm HYPREP’s Forum
International Oil Companies (IOCs) have released the first tranche of $200million out of the $1billion earmarked for the clean-up of Ogoniland in Rivers State.
Member of the Board of Trustees of the Hydrocarbon Pollution Remediation Project (HYPREP) and President General of KAGOTE, Dr. Peter Medee, who made the disclosure while addressing the second stakeholders’ forum organised by HYPREP at Hotel Presidential, Port Harcourt, last Friday, said the money has been lodged into the account of the Ogoni Trust Fund.
According to him, the board has received fund from the IOCs led by the Shell Petroleum Development Company (SPDC).
“The Shell team in the board has worked with us very hard to ensure that all other IOCs and the NNPC deliver the fund as at when necessary. So, the first tranche of the fund has been received and l can tell you that the fund is already in the account of the Ogoni Trust Fund”, he said.
Medee also debunked claims that the initial $10million released for the take-off of the clean-up of Ogoniland was missing, saying, “no part of the fund is missing”.
According to him, the $5million component of the fund, which he said was in foreign currency, was still intact.
He noted that those who are peddling the false rumour that the fund was missing were actually sending wrong signals to donor agencies and other international partners, a situation, he said could hamper the effective clean-up process, and sued for patience and restraint.
He further disclosed that to ensure the security of the funds released for the clean-up project, the HYPREP’s board had opened an account with the Standard Chartered Bank of London, where such monies are lodged as they are released by the IOCs and the NNPC, among other stakeholders.
“The board had made several efforts to ensure that we get a credible hand that will receive the fund. That was also borne out of the fear that the banks in Nigeria all have N25billion as the extent to which they are insured. And because we are expecting the fund to come in five tranches of $200million, if you take the exchange rate differential of that, it means that we shall be expecting about N75billion each year. And the board was not sure of entrusting N75billion to a bank that has N25billion capitalisation”, he said.
This, he said was what informed the choice of Standard Chartered Bank of London which he noted has a stronger capitalisation base to secure the fund, adding that there was also the need to work with a bank which donor agencies all over the world could trust since the board’s mandate includes sourcing for funds beyond the $1billion earmarked for the project.
Medee also listed the benefits of incorporating the Ogoni Trust Fund by the Federal Executive Council (FEC).
According to him, “with the trust fund in place, we are very sure that change of government, that is if the present Federal Government is no longer in place and there is a new leadership that is not interested in the clean-up, that will not affect the clean-up, because the Ogoni Trust Fund can now receive the fund and declare it without any interference from the Federal Government”.
He hinted that the trust fund has three Ogonis as signatories to its account, assuring that with a technical team in place, the board would also ensure that funds released to the coordinating office for the clean-up exercise would not be mismanaged.
The Minister of State for Environment, Alhaji Ibrahim Musa Jibril in his welcome address equally, noted that measures have been put in place to ensure that funds released for the project are judiciously utilised.
The minister, who was representeAd by his Senior Technical Assistant, Dr. Ishiyaku Mohammed said the Federal Government was committed to the clean-up project, as it would ensure that funds for the exercise are not diverted.
Also speaking, member of HYPREP’s Governing Council and President of the Movement for the Survival of Ogoni People (MOSOP), Mr. Legborsi Pyagbara assured that the Ogonis would continue to support the clean-up project and equally raise an alarm when necessary.
Pyagbara stressed the need for striking a balance between the clean-up of the devastated Ogoni environment and the provision of economic means of survival for the people.
On his part, another member of the Governing Council, Prof. Ben Nanee, harped on the need for peace in Ogoni communities as well as the restoration of the livelihoods of the people devastated by oil pollution, saying, “while cleaning up the environment, we also have to find a way of feeding the Ogoni people, putting food on the table of the Ogoni people”.
The conversation segment of the programme which featured HYPREP’s Project Coordinator, Dr. Marvin Dekil, and anchored by international journalist, Donu Kogbara provided a platform for the project coordinator to offer an insight into the activities of the agency since its inception, disclosing that remediation work proper in Ogoniland would commence at the end of September.
According to him, only qualified professionals would be used for the exercise. He hinted that a United Nations Environment Programme (UNEP) team would soon arrive the country to supervise the clean-up exercise.
Prominent Ogoni sons and daughters, including member of the House of Representatives, Hon. Barry Mpigi, Rivers State Commissioner for Works, Hon. Dumnamene Dekor, Hon. John Bazia, Hon. Felicia Taneh, Hon. Marcus Nle-Eji, Prof. B.B. Fakae, Mr Marvin Yorbana, Chief Gani Topba, among others, graced the event.
Donatus Ebi
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