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Niger Delta leaders drag President Buhari to court over tenure of NDDC board

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Six leaders of the Niger Delta region have yesterday dragged President Muhammad Buhari to Court over the tenure of the Board of the Niger Delta Development Commission (NDDC) led by Senator Victor Ndoma-Egba (Chairman) and Nsima Ekere (Managing Director/Chief Executive Officer).

The Six Niger Delta Leaders, Micah Akeems (Bayelsa); Ziprebo Emomotimi (Bayelsa); George Ufot Udoyara (Akwa Ibom); Elliot Tibakeni (Bayelsa); Unyeowaji Patterson Gabriel (Rivers); Patrick Stephen (Abia); and Alphonsus James (Bayelsa), in a suit numbered FHC/ABJ/C5/1245/2017 filed before the Federal High Court sitting in Abuja, sought a clear interpretation of the NDDC Act as it relates to tenure and rotation.

In the suit, filed on December 15, 2017 and originating Summons dated 16th of April, 2018, the plaintiffs sought the determination of “Whether the Niger Delta Development Commission Act, 2000 is binding on all the defendants? Whether the Defendants can in line with the NDDC Act, 2000 appoint/reappoint the Managing Director (of the Commission) whose letter of appointment is only for a one year term which will terminate in December 2017 or elongate the tenure outside the provision of Section 3 of the NDDC Act, 2000.”

The plantiffs specifically sought the following reliefs among others from the court: an order of court to halt any attempt to retain the Managing Director and other members of the Commission;

“An order of court compelling the President of the Federal Republic of Nigeria to appoint the Managing Director of the NDDC from Bayelsa State in accordance with Section 12 (1) of the NDDC Act, 2000, which supports the principle of rotation of key offices of the Commission.”

The plaintiffs say, “it will be a mockery of the NDDC Act, 2000 to disregard the said Act and not to follow the rotational principle as envisaged and contemplated in the intent and spirit of the said Act.”

In an affidavit in support of the Originating Summons, Micah Akeems, the First Applicant, stated that since the establishment of the NDDC, the appointment/reappointment of Managing Directors had been on the principle of rotation. He added that the tenure of the immediate outgoing or outgone Managing Director of the NDDC ended in December 2017 in accordance with his letter of appointment.

 

The suit, which came up for hearing on Monday, April 16, 2018, before Justice Anwuli Chikere had the Minister of Niger Delta Affairs represented in court.

The President and NDDC were, however, not represented.

The court adjourned the matter to May 21 following an observation that NDDC was not properly served.

The Summons, which was reportedly sent to the NDDC office in Abuja rather than the headquarters in Port Harcourt, Rivers State.

It would be recalled that the issue of tenure elongation of the current NDDC Board has already become subject protests by individuals and groups, including prominent traditional rulers from the Niger Delta, calling on the President to adhere to the law and practice regarding the NDDC since its inception and reconstitute the board of the commission.

There have also been bribery allegations, as some powerful persons around the President are being accused of trying to influence an extension of tenure for the NDDC leadership in return for financial compensations.

 

 

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    Ten million (10,000,000), of which Seven million (7,000,000) might be accessible for the acquisition within the
    Sale.

    Tokens will likely be distributed after Stage 2 of the ICO has ended.
    Following the momentum of bitcoin, BCC has maintained its upward trend and is projected to
    continue its progress pattern all through 2017. Internet of Coins
    is a new peer-to-peer monetary community on the blockchain. (a) The Company have developed quite
    a lot of sensible contracts (the Smart Contracts”) using the
    Ethereum platform and should continue creating them for the purposes of GoldMint Platform
    functioning and growth. Protocol Labs leads groundbreaking
    internet projects, corresponding to IPFS, the decentralized
    net protocol; libp2p, a modular network stack for peer-to-peer apps and programs;
    CoinList, a token sale and investment platform; and Filecoin, a decentralized file storage community and protocol token.

    Sadly, users will have to wait until BlockCat produces a stable product, and until then, the token will remain a speculative asset,
    with the potential for being listed on an exchange
    like Poloniex or Bittrex, or dealing with lengthy volumes and a depressed price.
    All info and analyses are estimates using publicly accessible, firm supplied data (e.g., Filecoin whitepaper),
    contractor data, and third social gathering knowledge
    sources. Below such Token Pre-Order arrangements,
    by agreeing to pay the Firm for MNTP tokens earlier than the Sale Starting Date, a MNTP token purchaser may receive some bonuses in type of further MNTP tokens,
    as may be described on the GoldMint web site.

    Since ICOs typically contain shifting ether — the foreign money of Ethereum, which is the
    platform for the overwhelming majority of ICOs — you might simply
    make a mistake there. The community also has the capability for atomic swaps, decentralized exchanges,
    on-chain governance through NEO token holders, and off-chain governance by means of the NEO council, which consists of founding members of the undertaking.
    The acquisition of community tokens and cryptocurrency are particularly dangerous and should result in total loss of capital.

    (a) To the fullest extent permitted by applicable regulation and
    besides as in any other case specified in a writing by us, (i) MNTP tokens are sold on an as is”
    and as accessible” basis without warranties of any type, and we expressly
    disclaim all implied warranties as to MNTP tokens, together with, with out limitation, implied warranties of merchantability,
    health for a specific goal, title and non-infringement, (ii) we do not represent or warrant that MNTP tokens are dependable, present or error-free, meet your requirements, or that defects in MNTP tokens can be corrected,
    and (iii) we can’t and do not represent or warrant that MNTP
    tokens or the delivery mechanism for tokens are free of viruses or
    different harmful components.

    You might find extra info and description of the Company, the GoldMint
    Platform and attainable purposes of GOLD cryptoasset in Exhibit
    A hereto, and description of MNT performance in Exhibit B
    hereto, in addition to on the GoldMint web site ( ) and in GoldMint whitepaper
    ( -paper ). Please notice nevertheless that all the information contained on the GoldMint web site, as nicely in the Whitepaper, are for
    informational functions only, shall not be binding for the Firm and
    don’t kind a part of these Phrases, by reference
    or in any other case.

    There is a cap of 20,000 Ether and for each one Ether contributed members
    will receive a hundred and fifty WAX tokens. Usually, when a challenge
    tied to an ICO fails, the associated tokens will
    plummet in worth. All companies will help each traditional
    fiat currencies as well as cryptocurrencies equivalent
    to Bitcoin, Ethereum, SPRINT, NEM, ERC20 compliant tokens and others.
    (By no means send cash to an ICO from an trade; all the time send from a pockets similar to Parity
    or MEW.) At the time of the ICO, you’ll ship this ether to the ICO contract
    address.

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    We may determine, in our sole discretion, that it is mandatory to obtain certain information about you
    in an effort to adjust to applicable legal guidelines or regulations in connection with promoting MNTP tokens to you.
    As mentioned above, the GRID token will be a credit
    score on the GRID+ platform, redeemable for the best to purchase 500 kWh of electrical energy at wholesale price accessible to GRID+.
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    Templum intends to grow to be the leading regulatory compliant platform for Preliminary Coin Offerings (ICOs) as securities and their secondary buying and selling.
    In addition, platforms facilitating secondary buying
    and selling of such tokens would also must be approved or recognised
    by MAS as an authorized alternate or recognised market operator
    respectively below the SFA. The above abstract just isn’t a complete listing of the dangers
    and different necessary disclosures concerned in purchasing, holding and use of digital tokens and is subject
    to the more complete disclosures contained in the documents of
    every crowdfunding campaign, which should be reviewed by
    the Person in full and carefully.

    With the regulatory setting still not offering a transparent framework in almost all jurisdictions, we cannot say for sure, how
    and if tokens might be thought to be mean for versatile licensing of blockchain based mostly software
    program solutions. Globitex needs to provide an answer for this issue by tremendously increasing bitcoin trading volumes and enabling bitcoin’s use across the varied lines of cash and commodity markets, permitting for cash, shares,
    bonds, gold, crude oil, agriculture and silver to be priced directly in bitcoin.

    On the opposite aspect, a cross machine platform presents
    users control over their portfolios and a market allows
    property token exchange by means of a decentralised protocol.
    We can assist you buy bitcoins , select a bitcoin wallet You can even learn the latest news ,
    or engage with the neighborhood on our Bitcoin Forum Please remember
    that this is a industrial web site that lists
    wallets, exchanges and different bitcoin related corporations.
    The various user groups are: (1) certified companions, (2)
    property administration firms, (3) property holding firms, (4) PropToken Validators and
    (5) finish customers.

    Even in case you are not doing an ICO and just use cryptographic tokens to grant access to your service or use open source software
    program for example, promoting or selling those entry tokens to Japanese may develop into restricted.
    I sit up for this evolution of digital foreign money
    trading platforms that guarantee futures contracts with a
    bodily delivery part,” said Globitex chairman and founding director of
    Bitcoin Basis, Jon Matonis. Marc has been concerned in Bitcoin since 2013 and has 18 years expertise in online marketing.

    CoinLoan has made nice strides in demonstrating that they’re
    a worthy investment by including a variety of seasoned
    blockchain specialists to their advisory crew; and then reconfiguring their token offering
    to make it even more compelling. The corporate is now providing as much as 275 million TradeTokens, which can be found to buy within the
    ICO from 7 December till four January 2018. In addition to
    the implementation of blockchain know-how, Polybius Financial institution may
    also use specialised AI for crediting, and the undertaking’s very own digital biometric identification technology known as Digital Go.

    Templum entered into a strategic partnership and license agreement with Liquid M Capital that will
    place Templum to be a number one totally regulatory compliant platform for the primary issuance of ICO’s as
    securities and their secondary buying and selling ensuing within the creation of a new
    market infrastructure for digital belongings. The KickCoin digital token is created in line with the ERC20 specifications of the Ethereum blockchain. In latest times FINMA has noticed a marked enhance in initial coin offerings
    (ICOs), both carried out in or supplied from Switzerland.

    One other firm known as LifeID is working to construct a secure identity platform on the blockchain. To change into a celebration of the KICKICO Token Sale Agreement, which implies the acceptance of
    the KICKICO Offer for purchase and use of the KickCoin digital token underneath the conditions acknowledged beneath,
    the User shall buy any quantity of the KickCoin digital tokens in accordance with the technical recommendations of the KICKICO, which
    shall be published at no later than twelve (12) hours earlier than the
    ICO Period. The DAO invited people to purchase tokens that would be used to pursue an automated investment strategy and entitle the token owners to receive rewards.”
    One individual main the ICO, Christopher Jentzsch,
    even likened the process to receiving dividends.

    Talking at an event hosted by the Federal Reserve Bank of Philadelphia Thursday, Keith Noreika, the newly named director of the company tasked with supervising all
    national banks, went as far as to state publicly that he foresees a future through which bitcoin corporations may be granted ” fintech charters ” – proposed licenses designed to simplify
    the way startups do companies throughout state borders.
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    liquidity or unstable and opaque pricing.

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    of the Bitlicense was that it was excessively costly to use for a license and
    keep compliant for smaller Bitcoin startups. ASIC recognises that ICOs have the potential to make
    an essential contribution to the options available to businesses to
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    This a part of the guide offers an overview of what the Data Safety Act requires by
    way of safety, and aims that can assist you decide how you can manage
    the security of the non-public knowledge you hold. No. Depending on the providers rendered by an organization or
    its service suppliers and qualification of the token as a transferable security, a company or its service providers might be
    obliged to acquire a license as an funding agency (e.g.
    in case of brokerage providers) or operator of a buying and selling venue (based mostly on the EU Markets in Financial Devices Directive, MiFID).
    The applications, also called smart contracts, are written to the blockchain. Based on the above, it is my opinion (bear in mind I am not a lawyer
    nor need to provide any type of legal advice to anyone) that an appropriately designed Blockchain Token that consists
    of rights, and does not embrace any investment pursuits, shouldn’t be deemed to be a security ICO,
    subject to the precise information, circumstances and traits of
    the Blockchain Token itself.

    Cyber Safety Threat Intelligence decentralized database
    on Blockchain. Although it will not be of a lot consolation to
    the Berkshire-based enterprise, Boomerang obtained
    off fairly calmly for the reason that ICO has the power to impose a financial penalty on a knowledge
    controller of as much as £500,000. The first areas of
    analysis for the Middle group are: blockchain safety, vulnerabilities and countermeasures; classification, comparison and market analysis of cybersecurity products; cryptography, secure communications and
    knowledge safety; massive knowledge analytics and visualisation in cybersecurity.

    Therefore, the essence of a non-security or utility Blockchain Token is that they are for commercial use quite than investment,
    and a safety Blockchain Token is for any sort of investment contract and transaction. In a typical ICO, which may final wherever from just a
    few hours to a few weeks, the company invitations folks to buy tokens (aka digital cash) to fund a
    project. By next 12 months, ninety% of central
    banks and 80% of economic banks will have engaged
    in some type of investment, programming, or
    planning to incorporate blockchain into their predominant enterprise functions and workflows.

    Identify potential security vulnerabilities and verify
    that your good contracts are performing as anticipated.
    If I am buying your token, I am incentivized to assist the corporate’s product
    and ecosystem expand, herald different users, maximize the
    tokens’ utility, and I am hoping that demand for the
    token will enhance and it might become extra helpful.

    False impression #3: I have been assured by one of the best legislation firms
    that my token is not going to be considered a
    safety topic to U.S. federal and state securities legal guidelines.

    We are going to have the PolySwarm Blockchain Safety Specialists here to discuss the dos and don’ts
    in structuring your tokens and sensible contracts. One may see the non-security
    or utility Blockchain Token holders as active individuals, like
    franchisees of McDonalds or licensees of software like SAP.

    Also, the businesses put up their white papers publicly,
    their code is up on Github, and their token good contracts are sometimes
    peer audited, so potential patrons have some transparency by
    way of the place a product is in its cycle and
    in addition the group’s level of purchase-in.

    Frank is the founder and lead developer of DCORP , an autonomous, decentralized
    and democratic group that exists on the blockchain as a
    collection of smart-contracts. Balaji S.
    Srinivasan wrote a fantastic piece on tokens again in Might and Tim Draper current put up on Linkedin referring to his open letter
    to the SEC has opened up a big discussion on wether token sales should be
    thought-about as securities. Utility Tokens: Firms situation utility
    tokens” which are essentially digital coupons giving
    traders entry to the features of a selected venture starting at a later date.

    Whilst we will observe, to a certain diploma, the safety and data safety measures put
    in place over time, elements reminiscent of multi-jurisdictional compliance and long-term token legality show extra difficult.
    The launch of providers associated to low-cost investment
    solutions corresponding to trade traded funds (ETFs), cryptocurrency and crypto token funds in addition to robo advising.
    Cyber Security distributors are competing against each other, therefore no or negligible menace knowledge sharing.

    Accordingly, in certain instances, the tokens or cash might be securities and
    will not be lawfully sold without registration with the SEC or pursuant to an exemption from
    registration. Our staff will then present outstaffed company
    cybersecurity research, expert clearance and impartial analysis and comparability of these merchandise.
    7. Cyber Attacks on SecurityPlusCloud Website – Sarcastically (or
    coincidence?), we’ve been a target of very decided hackers
    from Day 1 of ICO Pre-Sale till the final day of Pre-Sale.

    One important distinction that seems to have emerged in the report, however, is
    that whereas DAO tokens are securities, Ether itself continues to be within the clear.

    The code, often referred to as a sensible contract,” serves to automate sure capabilities of the group, which can include the issuance of certain digital cash
    or tokens. However, primarily based on their prior involvement with an ICO, the
    need of an accountability is important to ensure that the team is incentivized to work once
    they’ve raised the money.

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    A community of decentralized marketplaces and communities.
    Insurance policies and bonds are issued in the type of Ethereum good contracts.
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    The fundamental enterprise mannequin of Lunyr is to leverage a decentralized Wikipedia by constructing an incentive-primarily based information application on top
    of the Ethereum blockchain. In 2014, the Ethereum venture was announced and its ICO raised $18
    million in Bitcoins or $zero.40 per Ether. Rivetz integrates trusted computing with
    blockchain technology to supply comprehensive privacy safety throughout a number of gadgets powered by the RvT
    token. Users of Pylon can exchange green energy,
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    all through the process; that is achieved via the application of blockchain know-how and good contracts.

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    Blockchain technology and takes lending from banks and regulators to everyone, empowering
    each contributors to lend in a free market. Aldoin is
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    to operate into Cryptomining by constructing Excessive optimized Mining
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    Blockchain applied sciences by growth of solutions and turns keys products.
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    Avalon Network (our membership base), we are going to
    negotiate and advocate on our member’s behalves to secure unique reductions on items and services,
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    with good contract-primarily based marketplace for crypto buyers and crypto consultants.

    Wales, who made the comments at a Viva Know-how conference in Paris, said there
    are fads unfolding within the blockchain arena and cautioned investors to be cautious.
    CATs are the simplest form of a digital token which is cryptographically secured by the underlying blockchain. BitJob will
    deploy blockchain know-how in the global scholar neighborhood.

    The Melon protocol is a blockchain protocol for
    digital asset administration constructed on the Ethereum platform.
    VanillaPlay is a decentralized, blockchain-enabled platform for video
    chat services that allows not only models, but also
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    risks initial coin choices (ICOs) pose for traders and startups, respectively.
    The President of the Official Credit score Institute (Spanish acronym: ICO), Pablo Zalba, and the governor of the Council of Europe
    Improvement Financial institution (CEB), Rolf Wenzel, have signed an settlement in Paris whereby
    the multilateral financial institution grants a loan of 300 million euros to the ICO
    to fund projects for Spanish firms. Each of the phases require, from people or
    institutions, the trade the corresponding quantity of Ether (ETH) for the amount of Swapy Tokens is
    critical to buy Swapy.

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    and thus buyers are totally depending on the potential achievement and success
    of the mission. Each Bitcoin and Ethereum have experienced immense growth within the final couple of months, although foundations on which this progress relies are
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    prices for Bitcoin give us a really succinct and unprecedented resume for a new money-expertise hybrid.

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    developed, on this phase you may acquire tokens at a price decrease than the preliminary
    output of the ICO, they’re made with the goal of covering the preliminary prices
    of the preparation of the draft. In November, SingularityNET will crowdfund the
    completion of the project by launching an Initial Coin Providing or ICO:
    the sale of virtual tokens—to be used as a type of fee on the platform—to future customers or
    speculators betting on the tokens’ appreciation over time.

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    but it surely’s arriving just in time to forged a chill
    on the craze around ICOs. Some ICOs use a single public Bitcoin address to lift funds, which
    is bad for privateness, however is good for a neighborhood
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    dictates the worth, the ICO after it’s launched on the free
    market can go up or it will probably go down(when it’s listed on exchanges).
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    and commerce any cryptocurrency that desires to record with it,
    in addition to a token.

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    that any tokens that perform like securities might be regulated
    as such. Coinschedule, a site that carries out due diligence
    on potential offerings and picks the best 10 or 20 out of more than a thousand month-to-month applicants, has given Monkey Capital its first
    ever Platinum accreditation. The Securities and Exchange Commission is taking
    an curiosity in the hottest craze in cryptocurrency, the initial coin providing (ICO),
    and apparently the SEC is not into the hype.

    Investors could use the DAO’s tokens to forged votes on how to disburse funds, and any profits had been supposed to return again to
    the stakeholders. The usual financing channel for projects is often not accessible to private investors
    or just for very giant capital. In early September, 2017, the People’s Bank of China officially banned ICOs,
    citing it as disruptive to economic and financial stability.
    Usually, initiatives that use Blockchain technology launch a digital foreign money with its personal traits and provide them for sale.

    Make sure that the company you invest in is respected and geared up with an motion plan earlier than shopping for their
    tokens. On this sense, tokens are a solution to a community’s
    chicken-and-egg drawback. The inevitable transfer in direction of regulation will change
    the dynamic of a Token Sale and where the market shall be divided with so-known as sophisticated or accredited
    traders on one facet and the folks deemed unsophisticated on the other.
    Swapy Token patrons should use it on the Swapy
    Network, resell or store the tokens.

    ICOs are largely supported by early fans and never professional buyers.

    Which nation will develop a repute as one of the best place to do initial coin choices or ICOs?
    Since ICO is often carried out for younger and little-recognized firms,
    an essential function within the success of the undertaking belongs to a competent PR-technique.
    You can not say all ICO’s are scams, NXT and Ethereum are the two greatest successes out there currently.
    ICO is an analogue of IPO in cryptocurrency economic system.

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    akin to: who holds the collected money (in lots of cases traders don’t even know!), what sort
    of social community exercise a given project can boast,
    and other seemingly disparate knowledge. If IPO is known to
    us because the preliminary public offering of shares on the stock exchange within the traditional financial system, ICO (Preliminary Coin Offering) is the process of launch of
    the company’s own tokens (an analogue of shares on the standard monetary market with various distinctive properties) and their accommodation on the
    cryptocurrency trade.

    As a way to move ahead with the event of modern initiatives,
    Royal Kingdom Enterprise begins its ICO marketing campaign, so we invite everyone to revolutionize this interaction by creating tasks
    that bring solutions to folks and corporations around
    the world. It is curious that after finding so many risks in the ICOs, there
    are nice capitals investing in them. ICOs are becoming
    a preferred fundraising model amongst startups , primarily because their unregulated nature is attracting a legion of beginner investors and speculators— leading to what appears increasingly like a coin-formed
    bubble. http://www.ginim.com/buy_bitcoin9527

    Reply
  • Foenola
    June 15, 2018 at 11:34 pm
    Permalink

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