New Era Dawns as Kekere-Ekun Becomes Nigeria's 23rd Chief Justice

Good morning, and a warm welcome to ThinkBusiness Africa, your Monday – Friday dose of commentary, contexts, and insights on business and economic news that matter to you.

Remember to visit https://tb.africa/ to continue to enjoy the second phase of our media services development. Also, remember to share your feedback.

ThinkBusiness Africa thank you.

Please, also share so we can continue to build a community of “business thinkers”.

Headlines

New Era Dawns as Kekere-Ekun Becomes Nigeria's 23rd Chief Justice - President Bola Tinubu will swear in Kudirat Kekere-Eku as the new Chief Justice of Nigeria (CJN) on Friday, 23 August, 2024 succeeding the retired Justice Olukayode Ariwoola. Ariwoola, who served as the 22nd CJN, stepped down after attaining the mandatory retirement age of 70. In a valedictory court session, Ariwoola highlighted the need for the new Supreme Court Rules 2024, which he signed earlier this month. These updated rules aim to address the challenges faced by the nation's apex court, reflecting the changing landscape of law and technology. Ariwoola expressed confidence that the new rules will enhance the efficiency and effectiveness of the Supreme Court, while also calling for reforms to streamline the court's docket and reduce the overwhelming burden it currently faces. The president commended Ariwoola for his impactful leadership of the judiciary and his efforts in enriching Nigerian jurisprudence, as well as strengthening the fibre of the law. Ariwoola's tenure as CJN spanned two years, during which he left a lasting impact on the country's legal system. The swearing-in will take place at the State House Council Chambers today.

ThinkBusiness Africa/Africa Business Convention Graduate Trainee Program - Become a Future Leader

Join our comprehensive 1-year graduate training programme designed to nurture high-potential young talents into well-rounded professionals.

At ThinkBusiness Africa / Africa Business Convention, we're seeking passionate and dedicated individuals to join our team.

Our Graduate Trainee Program offers a unique opportunity to:

• Gain hands-on experience across Research, Tech, Data, Communications, Marketing, Graphics, Economics, Sales, and Social Media Management.

• Develop essential skills through tailored training and mentorship.

• Work on real-world projects and contribute to our company's growth.

Requirements:

• Minimum Bachelor's degree (2nd class lower) or HND (lower class) in any field

• NYSC discharge certificate or exemption letter

• Age 26 or younger as of April 2024

• No prior work experience required

Benefits:

• World-class learning platform with industry experts

• Broad career opportunities within a dynamic company

• Leadership development and mentorship

• Entrepreneurship opportunities for innovative thinkers

• Competitive salary of N120,000

Ready to kickstart your career? Apply now and be part of a team that is shaping the future of business in Africa.

Send application to: [email protected]

www.africabusinessconvention.com/www.tb.africa 

Nigeria's Overseas Assets Under Siege: Chinese Investors Seize Luxury Jet - Nigeria's overseas assets have come under increasing pressure as Chinese investors, Zhongshang Fucheng Industrial Investment Ltd., have successfully seized several valuable properties. The latest target was a luxury jet worth $57 million, previously owned by the notorious Nigerian fugitive, Dan Etete. The dispute between Zhongshang and Nigeria dates back to 2016 when Ogun State allegedly violated a 2001 trade treaty between the two countries. This breach led Zhongshang to pursue legal action, resulting in arbitration awards of over $70 million against Nigeria. Despite Nigeria's efforts to shield its assets through claims of sovereign immunity, courts in various countries have consistently ruled in favour of Zhongshang. In the United States, Canada, and the United Kingdom, judges have rejected Nigeria's arguments, allowing the Chinese firm to seize assets belonging to the Nigerian government. The luxury jet, a Bombardier 6000 type BD-700-1A10 aircraft, was purchased by Etete during a period of extravagant spending following the corrupt sale of the OPL 245 oil field in 2010. Nigeria had previously seized the jet from Etete in 2016 but was unable to prevent its transfer to Canada in 2020. Zhongshang's successful seizure of the jet marks another significant victory in its ongoing campaign to recover its losses. The Chinese firm is expected to continue its efforts to seize Nigerian assets in other countries, including Belgium and the United States.

My three takeaways from the recent protests - Ahead of the recently concluded protests, I found it surprising that the government was too jittery and felt that those who called for the protests would listen to the voices of elders and traditional rulers that they believed were responsible for their hunger and hopelessness. Read More

Upcoming Event

To register for the Esri User Conference West Africa 2024, please click the link: https://africabusinessconvention.com/event/esri-user-conference-west-africa-2024/