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

Corporate Social Responsibility: ARTHUR NZERIBE: A TRIBUTE TO A PHILANTHROPIST

Corporate Social Responsibility: ARTHUR NZERIBE: A TRIBUTE TO A PHILANTHROPIST: It was an Irish author who said: "If you get up and saw yourself surrounded by riches, you've not been sleeping". According...

ARTHUR NZERIBE: A TRIBUTE TO A PHILANTHROPIST

It was an Irish author who said: "If you get up and saw yourself surrounded by riches, you've not been sleeping". According to Worldcat.org publishers, ARTHUR NZERIBE had 13 works in 24 publications in 1 language and 193 library holdings. They were listed thus: Nigeria: the turning point: a charter for stability 1986 Nigeria: another hope betrayed: the second coming of the Nigerian military 1985/1994 Ndi Igbo and Obasanjo: a handshake across the Niger 2002 Nigeria I believe: a manifesto for the third Republic 1988 Nigeria: seven years after Shehu Shagari 1990 The anointed messiah: 3 misconceptions about the anointed messiahmessiah 2003 Ndi Igbo and Obasanjo: matters arising (ONE) 2003 Speech on the launching ceremony of a book entitled "Ibrahim Badamosi Babangida, a patriotic leader of our people" - Chief Yomi Tokoya 1988 Ndi Igbo and Obasanjo: fallacy of the hatred theory 2002 ARTHUR NZERIBE for president 1992 Nigeria: the turning point: a starter for stability 1986 Nigeria: seven years after Shehu Shagari: Who next? What next? None of these books were sold to recover costs or gains; clear CSR projects and his contribution to humanity as a public servant, who served Imo west senatorial zone for a legendary five times. He wasn't perfect because he was mortal like every other person. This solemn comment is no set out to correct his mistakes or paint a picture of anyone else's perspective of the Oguta-born philantropist; but an attempt to place on record my brief encounter with the man as a political mentor. Though I read about him through media report I never met him in person until early in 1990 when we boarded Nigeria Airways flight. Abode the plane, before take-off while arranging luggages I called him 'senior' and greeted him. That was the beginning of further interactions that followed. Shortly after when I joined Social Democratic Party (SDP) he was to become more accessible to me as Councillorship candidate for my Ward. We had several visits to his Oguta Peace Haven home for political engagements and strategies. His political structure that attracted us was called 'Arthur Line Up' - you cannot fail! 'Arthur line up' was a guarantee that no other political structure could mow you down and so it was. The financial mussle behind the structure was FRANCIS ARTHUR NZERIBE (FAN) Foundation. This foundation supported and produced many astute politicians, especially in the South-East called CARIA, acronym for the 5 Ststes. His tutelage and mentorship gave me the confidence that was non-existent in me then as a young legal Practitioners. He taught us to believe that success is possible, just be prepared to achieve it. Don't think that failure is any where near you. In one of his last media interviews about 'success' before demise marveric Nzeribe replied: "So, how do you measure success? In the middle of that, I have run elections, where I adopted five different political parties, and each time I go to any political party, we win. How do you define a good politician other than the man who contests an election and wins?” From records he became a millionaire in more than one currency at 29 and never got government contracts but represented his Orlu constituency, some tenures without any emoluments. It was time to go and he did. From me Adieu. IKECHUKWU O. ODOEMELAM Esq is the Principal Partner at IKECHUKWU O. ODOEMELAM & CO, Law firm of Corporate Attorneys and Consultants. Engaged in litigation, ADR, investment, property, public interest and corporate practice