Business
Export-Import Bank of the US, Nigerian Export-Import Bank Sign MoU to Strengthen Economic Cooperation and Expand Trade Ties
Joel Ajayi
The Export-Import Bank of the United States (EXIM) has signed a Memorandum of Understanding (MoU) with the Nigerian Export-Import Bank (NEXIM) to deepen collaboration and trade ties between the United States and Nigeria.
The agreement was signed by EXIM President and Chair, Reta Jo Lewis, on behalf of the Export-Import Bank of the United States, while Abba Bello, Managing Director and Chief Executive Officer of NEXIM, signed on behalf of the Nigerian Export-Import Bank.
During the signing ceremony, EXIM President and Chair Reta Jo Lewis highlighted the increased opportunities for U.S. exports to Nigeria in critical minerals, clean energy, aviation, and infrastructure.
The MoU demonstrates a shared desire to identify and promote trade and economic cooperation between the two countries, particularly in sectors such as clean energy, critical minerals, aviation, maritime transport, digital connectivity, and infrastructure, among others.
Speaking at the event, EXIM President Lewis stated, “Nigeria is the second-largest U.S. export destination in Sub-Saharan Africa, but there is still significant potential for growth.”
“This MoU with NEXIM sends a strong market signal to Nigeria that EXIM is eager to forge a stronger commercial relationship by supporting U.S. exports in key sectors.”
In his remarks, Managing Director and CEO Bello said, “This collaboration marks a significant milestone in our efforts to strengthen trade ties between Nigeria and the United States. We are confident that this partnership will open new avenues for economic growth and development.”
“The MoU marks a pivotal moment for both the United States and Nigeria. It will enhance the competitiveness of companies in both nations and strengthen collaboration by exploring options for utilizing EXIM’s medium- and long-term loan guarantees and/or direct loans to finance U.S. exports to Nigeria.”
“This MoU directly supports EXIM’s Sub-Saharan Africa Mandate.”
Over the past three years, EXIM has approved approximately $4 billion in authorizations to support U.S. exports to sub-Saharan Africa.
Business
Court Orders Arrest Of Wike-led FCTA Director, 10 Others
By Aliyu Galadima
An Abuja High Court has issued a bench warrant against the director of investigation and prosecution of the FCTA, Joseph Eriki, and 10 others.Justice Suleiman Belgore has issued an order to compel the director and others to appear before the court for a suit filed against them.
The Judge’s decision followed the application of the prosecuting counsel, David Kaswe, who lamented the failure of the efforts to ensure that the suspects appear in court.
Justice Suleiman Belgore of the High Court in Abuja has issued a warrant of arrest against Joseph Eriki, the director of investigation and prosecution of the Nyesom Wike-led Federal Capital Territory Administration ,FCTA, and 10 others.
The judge had issued the order to compel the appearance of Joseph Eriki and 10 others before the court, as they had been arraigned in a suit filed against them by the federal government.
The warrant was issued following an application by the prosecution counsel, David Kaswe, who stated that all efforts to ensure the suspects’ presence in court had failed. Kaswe informed the court that the prosecution had made several attempts to notify the suspects’ lawyers and sureties, but to no avail.
He cited Section 124 of the Administration of Criminal Justice Act ,ACJA, which allows for the issuance of a bench warrant to compel attendance in court.
The court agreed to the application, issuing the warrant to ensure the suspects’ appearance for arraignment on a six-count charge. The charges against the suspects include criminal conspiracy, criminal trespass, forgery, and using a forged document as genuine.
They are also accused of using criminal force to deter a public servant from performing their duty. The suspects allegedly entered a plot of land belonging to Etha Ventures and constructed structures without authorisation, to defraud the company.
According to the prosecution, the suspects fraudulently obtained a consent judgment for the land, which was given to Super Structures Limited. The case has been adjourned until June 4 for arraignment.
The court’s decision to issue a bench warrant highlights the seriousness of the allegations and the need for the suspects to face trial. The suspects are facing a six-count charge, which was filed in February.
The court’s ruling emphasises the importance of a speedy trial and the need for the suspects to be held accountable for their actions.
With the bench warrant in place, the court is taking steps to ensure that the suspects appear in court and face the charges against them
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