General
Senate Addresses Issues in Bill to Regulate Real Estate Sector
By Adedapo Adesanya
The issues raised in a bill earlier passed by the Senate as regards regulations for the real estate sector in Nigeria have now been addressed.
On Wednesday, the upper chamber of the National Assembly passed a legislature to establish the Real Estate Regulatory Council of Nigeria.
When established, the agency would, amongst others, curb fraudulent practices to ensure that the real estate business confirms with the National Building Code in Nigeria.
The bill which scaled third reading during plenary is tagged: The Real Estate Regulatory Council of Nigeria (Establishment) Bill, 2021.
The bill sponsored by the senator representing Sokoto North, Mr Aliyu Wamakko was read for the first time on April 28, 2021, and a scaled second reading on June 22, 2021.
The passage of the bill on Wednesday followed the consideration of a report by the Committee on Establishment and Public Service.
The report was laid during the plenary by the Deputy Chief Whip, Mr Aliyu Sabi Abdullahi.
Mr Nicholas Tofowomo, who presented the report on behalf of the Committee Chairman, Ibrahim Shekarau, said the establishment of the Real Estate Council of Nigeria would provide efficient, effective and transparent administration of the business of real estate development in Nigeria.
According to the lawmaker, the council would be responsible for prescribing minimum standards for the conduct of the businesses of real estate development across the country.
He recalled that the bill seeking to establish the Real Estate Council of Nigeria was passed by both chambers of the eighth National Assembly, but was not assented to by President Muhammadu Buhari.
He said the President’s decision to withhold assent to the bill was a result of certain observations raised by stakeholders at the time.
“Those observations have been taken care of in this report by the Committee following the engagement with stakeholders to ensure that real estate business in Nigeria confirms with the Money Laundering Act 2011 (as amended) and the Nigeria Financial Intelligence Unit Act 2018 in terms of Anti-Money Laundering and Counter-Terrorism Financing due diligence compliance”, Mr Tofowomo said.
He explained that when established, the organisation would standardize the business of real estate by regulating the conduct of transactions; and provide enabling environment and transparency in the business of real estate development in Nigeria.
The lawmaker stated that it would also curb fraudulent practices to ensure that the real estate business confirms with the National Building Code in Nigeria; as well as create an innovative and sustainable environment to promote Nigeria as a real estate investment destination in Africa and the world.
Meanwhile, two bills seeking to establish the Federal Orthopedic Hospital, Patigi, Kwara State; and Federal University of Agriculture, Akure, Ondo State, have passed second reading in the Senate.
The bills were sponsored by Senators Sadiq Suleiman Umar and Patrick Ayo Akinyelure.
The bills after scaling the second reading were referred by the Deputy Senate President, Ovie Omo-Agege, who presided over the plenary on Wednesday to the Committees on Health (Secondary and Tertiary); and Tertiary Institutions and TETFUND for further inputs.
Both committees were given four weeks to report back to the upper chamber.
General
Crude Oil Tanker Seized Near Venezuela Not Registered in Nigeria—NIMASA
By Adedapo Adesanya
The Nigerian Maritime Administration and Safety Agency (NIMASA) has clarified that the crude oil vessel, MV Skipper, intercepted by the United States Coast Guard, in collaboration with the US Navy for its alleged involvement in crude oil theft and other transnational crimes is not registered in Nigeria.
NIMASA said the Very Large Crude Carrier (VLCC) SKIPPER with IMO Number 9304667 is not a Nigerian-flagged vessel, and its purported owners, Thomarose Global Ventures Limited, are not registered with NIMASA as a shipping company.
An analysis of the vessel’s movement carried out NIMASA through its Command, Control, Communication, Computers and Intelligence (C4i) Centre showed that the facility was last sighted on Nigerian waters on July 1, 2024.
“After departing Nigerian waters, the vessel continued on its international voyage pattern and was tracked operating in the Arabian Sea (Asia) and later in the Caribbean region, where the US interdiction eventually took place.
“Records indicate that SKIPPER, which was formerly owned by Triton Navigation Corp, has undergone multiple name changes over time.
The Director General of NIMASA, Mr Dayo Mobereola, reaffirmed the agency’s commitment to collaborate with all relevant stakeholders, including US authorities, in the ongoing investigations, noting that in a statement that criminality will not be tolerated on Nigerian waters.
Last week, US forces seized an oil tanker carrying a Panama flag believed to be the VLCC Skipper, after satellite imagery showed the vessel secretly loading over 1.8 million barrels of sanctioned Merey crude at Venezuela’s José Terminal.
The vessel had been transmitting falsified AIS positions during the operation, a tactic increasingly used by “dark fleet” tankers tied to Venezuelan and Iranian trades. It was later revealed that the seized tanker Skipper, was carrying crude contracted by Cubametales, Cuba’s state-run oil trading firm.
The seizure of the sanctioned oil tanker has sharply escalated tensions between the US and Venezuela. The US government also said it is preparing to intercept more ships transporting Venezuelan oil.
General
SERAP Threatens to Sue AGF Fagbemi Over Failure to Enforce NDDC Judgment
By Adedapo Adesanya
The Socio-Economic Rights and Accountability Project (SERAP) has urged the Attorney General of the Federation and Minister of Justice, Mr Lateef Fagbemi, “to immediately enforce the judgment compelling and directing him and president Bola Tinubu to widely publish the names of those indicted in the alleged misappropriation of N6 trillion meant to implement the abandoned 13,777 projects and in the running of the Niger Delta Development Commission (NDDC) between 2000 and 2019.”
The judgment was delivered on Monday, November 10, 2025, by Justice Gladys Olotu following a Freedom of Information suit number: FHC/ABJ/CS/1360/2021 brought by SERAP.
The court also ordered Mr Fagbemi and the president “to publish and make available to the public the NDDC forensic audit report submitted to the federal government on September 2, 2021.”
In the letter dated December 13, 2025 and signed by SERAP deputy director, Mr Kolawole Oluwadare, the organisation said: “The continuing failure and/or refusal to publicly acknowledge the judgment and immediately enforce it makes a mockery of the country’s legal and judicial processes and the rule of law.”
It warned that the ongoing failure and/or refusal to enforce the judgment is a fundamental breach of both the letter and spirit of the Nigerian Constitution and a direct assault on the rule of law.
“Obeying the judgment would reinforce the primacy of the Nigerian Constitution, and the country’s international obligations and show respect for the rule of law.
“The Attorney General is the Chief Law Officer of the Federation and as such has the responsibility to uphold the Nigerian Constitution, advise the government to ensure that its actions conform with judicial decisions, obey the rule of law and generally act in the public interest,” it disclosed.
The group noted that, “We would be grateful if the recommended measures are taken within 7 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider pursuing contempt proceedings against you to compel you to uphold the Nigerian Constitution and the rule of law.”
“SERAP notes the recent public commitments by President Tinubu to ‘improve the welfare of the Niger Delta region and address the challenges facing the region.’ Immediately enforcing the NDDC judgment would ensure the fulfilment of these commitments,” it concluded.
General
NCSP Strengthens Strategic Investment Cooperation With China
By Adedapo Adesanya
The Nigeria–China Strategic Partnership (NCSP) recently hosted a high-level delegation from Newryton International Industrial Development Company Limited, a leading Chinese investment and industrial development consortium, to advance discussions on deepening bilateral trade, industrial cooperation, and development financing between both countries.
The Newryton delegation, led by Mr David Chen, Assistant Secretary-General of the China Hainan Investment Council, had earlier engaged with the Nigerian Association of Commerce, Industry, Mines and Agriculture (NACCIMA). They were accompanied to the NCSP by Mr Joe Onyuike, Vice-Chairman of NACCIMA’s Agriculture and Livestock Trade Group, who conveyed NACCIMA’s support for the delegation’s engagements.
Discussions centered on the establishment of a Nigeria–China Trade and Investment Platform, including a proposed Promotion Centre in China to support Nigerian products, investors, and state governments.
The consortium also presented opportunities within Hainan Province’s Free Trade Port (FTP), which offers preferential policies that Nigerian businesses can leverage to expand exports and attract new investments.
In his address on behalf of Newryton, Mr Pong outlined plans to collaborate with NCSP in accessing FOCAC-supported financing for strategic investments in agriculture, energy, mining, solid minerals processing, and related sectors. The delegation identified aquaculture as a key area of interest and referenced the forthcoming Global Aquaculture Conference in Hainan Province, encouraging Nigerian stakeholders to participate.
They also expressed readiness to strengthen cooperation in vocational training and employment under the Belt and Road Initiative (BRI).
Welcoming the delegation on behalf of the Director-General, Martins Olajide, NCSP’s Head of Internal Operations, reaffirmed the organisation’s commitment to fostering mutually beneficial partnerships.
He highlighted NCSP’s strong interest in the proposed Nigeria–China Trade and Investment Platform and the development of the Nigerian Oil Palm Industrial Park as a flagship demonstration project.
Also speaking at the meeting, Ms Judy Melifonwu, NCSP’s Head of International Relations, underscored the opportunities presented by China’s zero-tariff policy and the forthcoming NAQS–GACC protocol on the export of Nigerian aquaculture products. She noted that these frameworks would significantly enhance Nigeria’s competitiveness in emerging global markets.
Both parties expressed commitment to advancing discussions toward a structured cooperation framework covering all priority areas.
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