General
P&ID Case: Nigeria Did Not Lose Appeal – Solicitor-General
By Adedapo Adesanya
The Solicitor-General of the Federation and Permanent Secretary of the Ministry of Justice, Mr Dayo Apata (SAN), has said that the Nigerian government did not lose its appeal against the order of a British commercial court directing it to deposit $200 million in the case against Process and Industrial Developments (P&ID) Limited.
He stated that parties in the suit would appear before the court on Monday for the court’s decision on whether to allow bank guarantee in place of actual payment, adding that there are indications from Friday’s proceedings that the court might accept a bank guarantee.
He further said that the reports in the media was wrong and twisted. He said, “There is no loss of any appeal. The media reports are wrong and twisted.”
“We are in court on Monday again for Butcher’s decision on whether he will substitute actual payment for bank guarantee.
“He was said to have indicated on Friday that a satisfactory bank guarantee would be acceptable to him.”
Business Post had reported in August that Justice Christopher Butcher of the Commercial Court in London had awarded the sum of $9.6 billion judgment debt against Nigeria over an alleged botched gas contract between the country and P&ID.
Nigeria then appealed against the judgment which led the London court to order the country to deposit $200 million as security into the court’s account while granting request to stay execution of the $9.6 billion award in favour of P&ID.
The court in addition gave Nigeria up till November 25 to make the deposit but the federal government appealed the court’s decision.
However, a news report circulated and claimed that at the hearing of the appeal on Friday the court refused to grant Nigeria’s bid to stop the deposit of the security.
P&ID had in 2012 instituted the legal battle against Nigeria in the Court of Arbitration in the UK in 2012 following Nigeria’s refusal to carry on with the GSPA agreement entered with the firm in 2010.
P&ID claimed that the failure of the federal government to construct the pipeline system to supply the gas frustrated the construction of the gas project and deprived it the potential benefits expected from 20 years’ worth of gas supplies.
It was also reported that the Abuja Division of the Federal High Court had on September 19 convicted and subsequently ordered the winding up of P&ID and its Nigerian affiliate, P&ID Nigeria Limited.
The court also ordered the forfeiture of “the assets and properties” of the two firms to the Nigerian government.
Justice Inyang Ekwo made the orders after the two firms, through their representatives, pleaded guilty to the 11-count charges of fraud, money laundering, tax evasion and other sundry charges in connection with a year 2010 contract leading to the recent controversial judgment of a British court recognising the award of $9.6 billion in favour of P&ID by an arbitration panel.
General
BPP Mandates Digital Submission for MDAs From March 1
By Adedapo Adesanya
The Bureau of Public Procurement (BPP) has directed all Ministries, Departments and Agencies (MDAs) to comply with its digital submission process effective March 1.
The directive was contained in a circular signed by the Director-General of the Bureau, Mr Adebowale Adedokun, noting that the move was part of the bureau’s commitment to digital transformation and paperless governance.
It explained that the transition followed an earlier circular of Aug. 4, 2025, which introduced electronic submission procedures.
According to the bureau, it has successfully moved from physical filings to a dedicated e-mail service for document submissions and is now advancing to a more robust and integrated system.
The circular announced the inauguration of the BPP Digital Submission Portal, a web-based platform designed to enable MDAs submit procurement-related documents directly to the Bureau.
It stated that the automated platform would streamline the submission process, enhance transparency and ensure accelerated tracking of procurement-related documents and petitions.
“With effect from March 1, all MDAs will be required to use the portal to submit requests for ‘No Objection’ Certificates, approvals for ‘No Objection’ for special procurements, clarifications and status updates on submissions,” the bureau said.
It added that the portal would be hosted on the Bureau’s official website and would become fully operational from the effective date.
The bureau warned that physical submissions or manual hand-deliveries would no longer be prioritised and would eventually be rejected following the full transition to the digital platform.
It urged accounting officers to brief their procurement departments and ICT units on the development to ensure seamless processing of procurement activities from March 1.
It further advised MDAs to contact the Bureau via its official email for information on the onboarding process and integration into the portal.
The bureau emphasised that full compliance by all MDAs was required to ensure a smooth transition and avoid delays in the implementation of the 2026 fiscal year procurement processes.
General
Senate Seeks Removal of CAC Boss Hussaini Magaji
By Adedapo Adesanya
The Senate has asked President Bola Tinubu to remove the Registrar General of the Corporate Affairs Commission (CAC), Mr Hussaini Ishaq Magaji, from office.
The Senate Committee on Finance, while passing a resolution in Abuja on Thursday, accused Mr Magaji, a Senior Advocate of Nigeria (SAN), of failing to honour the Senate’s invitations to account for the finances of his agency.
“He refused on so many occasions to honour our invitation to appear before this committee.
“We have issues with the reconciliation of the revenue of CAC.
“Each time we invite him, he gives us excuses,” the Chairman of the committee, Mr Sani Musa, said as the committee passed the resolution.
CAC was part of a group of agencies that the House of Representatives Public Accounts Committee (PAC) recommended zero allocation for the year 2026, for allegedly failing to account for public funds appropriated to them.
The committee, at an investigative hearing held two weeks ago, accused CAC and some other ministries, departments and agencies (MDAs) of shunning invitations to respond to audit queries contained in the Auditor-General for the Federation’s annual reports for 2020, 2021 and 2022.
The PAC chairman, Mr Bamidele Salam, stated that the National Assembly should not continue to appropriate public funds to institutions that disregard accountability mechanisms, saying this will create fiscal discipline and strengthen transparency across federal institutions and conform with extant financial regulations and the oversight powers of the parliament.
“Public funds are held in trust for the Nigerian people. Any agency that fails to account for previous allocations, refuses to submit audited accounts, or ignores legislative summons cannot, in good conscience, expect fresh budgetary provisions. Accountability is not optional; it is a constitutional obligation,” he said.
General
IBEDC Promises Stability, Growth After Board Restructuring
By Adedapo Adesanya
The Ibadan Electricity Distribution Company (IBEDC) has announced the reconstitution of its board following the resignation of three nominees of the Asset Management Corporation of Nigeria (AMCON), promising growth and stability.
Earlier this week, the disco, which serves Oyo, Ogun, Osun and Kwara States, as well as parts of Ekiti, Kogi and Niger States, unveiled its new board led by the new chairman, Mr Tunde J. Afolabi.
The newly constituted board include Mr Ayodeji Ariyo Gbeleyi, with Mr Michael I. Magaji as Alternate Director; Mr Taiwo Afolabi; Professor Oladapo Afolabi; Mr Tunde Fayinka; Mr Oluwaseyi Akinwale and Mr Adeolu Ijose.
According to the chairman, the emergence of a new core investor and the reconstituted board marks a significant milestone in the company’s corporate journey and signals a renewed strategic direction focused on stability, continuity and sustainable growth.
“This transition represents renewal, not rupture. It represents investment, not instability. It represents partnership, not division. Our goal is to strengthen governance, enhance operational performance, deepen capital investment and deliver improved service to customers across our franchise areas,” he added.
Mr Afolabi, while addressing customers directly, assured them that there would be no avoidable service disruptions as a result of the transition, stating that all IBEDC offices will remain open, while field operations will continue uninterrupted.
“The new core investor has committed to sustained capital investments in feeder rehabilitation and expansion, transformer upgrades and replacements, injection substation improvements, and the replacement of obsolete network components,” he stated.
He added that IBEDC plans to accelerate the integration of advanced digital and operational technologies, disclosing that these include enhanced outage management systems, strengthened billing platforms, expanded smart metering deployment, and digitised customer engagement channels aimed at improving transparency and service responsiveness.
On workforce stability, the chairman emphasised that there will be no job losses as a direct result of the transition, noting that the board, under his leadership, is committed to employee welfare, improved work tools, modern safety equipment, and technology upgrades to support field efficiency, while maintaining high performance standards.
Mr Afolabi also pledged proactive and structured engagement with regulators, including the Nigerian Electricity Regulatory Commission (NERC) and the Nigerian Electricity Management Services Agency (NEMSA), underscoring its commitment to full regulatory compliance, strengthened governance frameworks, transparency and accountability.
Furthermore, he reaffirmed the commitment of the distribution company to structured and timely payment cycles for vendors and suppliers, recognising their critical role in maintaining network stability.
With the new board in place, he insisted that IBEDC is poised to deepen operational excellence, strengthen financial sustainability, and position itself firmly on the path to becoming Nigeria’s leading power distribution company—powering progress across its franchise with unity, confidence and innovation.
Established in November 2013 following Nigeria’s power sector privatisation, IBEDC operates the largest distribution network serving the highest customer population within Nigeria’s electricity distribution landscape.
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