NIGERIA V. JP MORGAN: NIGERIA RETREATS WITH BLEEDING NOSE

A complex and prolonged case, Nigerian Public Interest lawyers and concerned groups expressed disappointment when the UK court delivered judgment on this case, Tuesday14 June, 2022. Anti-Money laundering suit between Nigeria and JP Morgan on "fraudulent" money transfer during 2011 to 2013. As a legal practitioner, I must state from a neutral standpoint that proving "fraud" against a defendant is an uphill task. BACKGROUND: FG sued df to recover a total of $1.7 billion, alleging "gross negligence" for failure to pay $875 million realized from oil sales into Federal government account, instead to escrow account of Malabu Oil & Gas company owned and controlled by former Petroleum Minister, Dan Etete. Earlier around 1998 off-shore oil field license, OPL 245 had been awarded to Dan Etete's company by the late Head of state, Gen. Sani Abacha. Nigeria, in the suit claimed that JP Morgan being responsible bankers owed a duty of care, and averred that the defendant was aware of the fraud and it's implications, therefore shouldn't have transferred the funds against the bank's compliance officer's warning. The case has generated huge public interest and many questions have been, and being asked about the place of corporate social responsibility (CSR)? DUTY OF DUE DILIGENCE The plaintiff, Federal Government of Nigeria who instituted this suit owes a duty of due diligence on behalf of the people of Nigeria. From the commencement of this matter in 2011, what did the various Attorney-Generals and Ministers of Justice and NNPC do to ensure that Nigeria was not short-changed? If the defendant's compliance officer was able to alert its employer about the possibility or risk of fraud, how many times did Nigerian authorities raise eyebrows? What was the justification for the plaintiff's indifference when it mattered? There's clearly absence of corporate social responsibility (CSR) on the part of the plaintiff's legal team and functionaries during the defendant's transfer of the funds. This absence came with collateral damage of $1.7 billion Ikechukwu Odoemelam Esq Legal Practitioners IKECHUKWU O ODOEMELAM & Corporate Attorneys/ Consultants

Corporate Social Responsibility: OUTSOURCE YOUR COPYWRITING/TRAINING TO US

Corporate Social Responsibility: OUTSOURCE YOUR COPYWRITING/TRAINING TO US: ANNOUNCEMENT #corporateleaders CSR contributes to the growth of prosperity Let's relieve you of some of your constituency projects: ...

OUTSOURCE YOUR COPYWRITING/TRAINING TO US

ANNOUNCEMENT #corporateleaders CSR contributes to the growth of prosperity Let's relieve you of some of your constituency projects: (Training of unemployed constituents and retraining of staff) at a very affordable sponsorship. * We're IDEA WORKSHOP - Independent * Skills Acquisition provider. * We provide digital assistance services such as copywriting etc. * We enable you start a foundation for expression of Corporate Social Responsibility. www.corporateleadersboard.blogspot.com Contact us: 08061151471 ideaworkshop@live.com Corporate Attorney/Consultant IKECHUKWU O. ODOEMELAM & CO https://tapestri.io/members/join/now/ideaworkshop http://www.amazon.com/dp/B0075RXXLE COMPANY SECRETARIES HANDBOOK http://www.amazon.com/dp/B005783S6SDIRECTORS http://www.amazon.com/dp/B005MKCESY MEETINGS: Dynamics and Legality

Corporate Social Responsibility: OWO TERRORISTS BLACK SUNDAY MASACRE

Corporate Social Responsibility: OWO TERRORISTS BLACK SUNDAY MASACRE: Religious and non-commercial organisations basically survive on corporate social responsibility (CSR) from the public and cause-driven inst...

OWO TERRORISTS BLACK SUNDAY MASACRE

Religious and non-commercial organisations basically survive on corporate social responsibility (CSR) from the public and cause-driven institutions. Whenever there is assault/attack on these group, it may not be for their worth but for other ulterior motives not unconnected with political influence and power. I am aware that Catholic Church is the largest organization in the world. I am also aware that political power do flow from the pulpit, especially when you make reference to the theology of liberation that reigned in South America in the ‘80s. Prior to St. Francis Catholic Church terrorist attack on Sunday, 5th June, 2022 the Prelate of Methodist Church, Dr Samuel Uche and two of his members were kidnapped and later abandoned. And you start to wonder what quarrel terrorists have with these helpless group whose lives depend on the generous acts of CSR. The Owo incident was more dastardly because the terrorist came not to bargain for money but to gruesomely, mercilessly and in most cold-blooded way commit mass murder in a Cathedral. Churches, Mosques, Charitable organisations and non-commercial ventures are registered under Part III CAMA as voluntary non-governmental organisations with trustees to administer them. The implications are numerous, but prominent among them is tax exemption. Probably the next in order of importance is non-interference by government or any one else, until recently in Nigeria with the coming into effect of CAMA amendment 2020 requiring religious CEOs to end tenure at a certain time. And during crisis when allegation of ‘fraud’ or ‘mismanagement’ are raised interim administrator would be imposed by “Non-governmental Organization Regulatory Commission” for supervision and monitoring, established under the amendment. Section 831, 839, 842, 843, and 849 of the Companies and Allied Matters Act (CAMA) 2020 which got presidential assent on August 7, 2020 have provoked protests/apprehension from many religious leaders, activists and lawyers in Nigeria. “Association” provided in the above sections includes religious organizations (churches/Christian ministries, mosques/Islamic societies, traditional religion sects), universities and other schools registered by trustees, research institutions, social clubs, development foundations, cultural groups, sports clubs, CSOs, charity organizations and other non-governmental organizations (NGOs). Since the economic lives of religious organizations and other “associations” are supported by acts of Corporate Social Responsibility by worshippers, members and the public, it behoves the associations to extrapolate by extending acts of CSR to assistance-needy members, identified groups or segment of the public in a multiplier fashion. Quite predictably prominent Nigerians, business and political leaders were on ground to sympathise with the Church, victims and families. Some of the early Monday sympathisers included the Vice President, Professor Yemi Osinbanjo, SAN and former governor of Lagos state, Senator Bola Ahmed Tinubu. Both could be said to represent Federal Government of Nigeria in their official capacities as well as their ambition to occupy the office of the president. Senator Tinubu was reported to have donated N50 million to the victims and N25 million to the church. Other donations may have been pouring in because of the ‘work of the devil’? Jesus wept! Ikechukwu Odoemelam Esq Corporate Attorney/Consultant IKECHUKWU O. ODOEMELAM & CO Legal Practitioners https://tapestri.io/members/join/now/ideaworkshop http://www.amazon.com/dp/B0075RXXLE COMPANY SECRETARIES HANDBOOK http://www.amazon.com/dp/B005783S6SDIRECTORS http://www.amazon.com/dp/B005MKCESY MEETINGS: Dynamics and Legality