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Kindly Share This Story: By Chioma Onuegbu – Uyo The Nigerian Navy Ship, NNS Jubilee, in Ikot Abasi local government area of Akwa Ibom state, said it has destroyed 15 militants camps within its area of jurisdiction in Akwa Ibom and some parts of Rivers state. The Commander, NNS Jubilee, Commodore Abdulmajid Ibrahim, who disclosed this to newsmen on Thursday at the base in Ikot Abasi local government area, Akwa Ibom state said the militant camps were discovered and destroyed during its anti-piracy and anti-sea robbery operations. He stated that the destruction of the militants’ camps by the Nigerian Navy was made possible through the raid of some of the 1,800 creeks within its jurisdiction, adding that the joint patrol operations of the Navy and Nigeria Police have resulted in relative peace and security in the area as well as brought illegal bunkering and trade on the waterways to the barest minimum. Ibrahim said the Navy also arrested 17 … [Read more...] about Navy destroys 15 militant camps in Akwa Ibom, Rivers

Kindly Share This Story: By Evelyn Usman The pulling Out Parade Ceremony to mark the official exit of former Chief of the Naval Staff, Vice Admiral Ibok-Ete Ibass, from the Nigerian Navy, was held Friday, at the Nigerian Navy Ship Quorra, Apapa, Lagos, with the celebrant declaring that the Navy under his watch was able to combat various acts of criminalities in the nation’s maritime domain, in 66 months. Statistics in the last five years showed that 4,229 suspects were arrested in connection with maritime illegalities, while 5,099 illegal refineries were destroyed. A total of 404 vessels were arrested, out of which 13 were forfeited to the Federal Government. In addition, 439 barges, 531-speed boats, 2, 977 wooden boats, including 140 tankers and 404 vehicles used for various illegalities, were impounded. Speaking at the occasion, the out- gone CNS noted that the huge dependence of Nigeria on its maritime resources could not be overemphasized and … [Read more...] about Former CNS, Ibas, pulls out of Military, declares 5yrs of stewardship

Talking Law (19-10-2005) Amendments to Law on Credit Institutions Looking at the economies of developed countries, we can see most of them have efficient capital markets. And, credit institutions play a key role in these markets. Becoming aware of the importance of a capital market and credit institutions for socio-economic development, the Vietnamese Government has been going about establishing a legal framework for the functioning of credit institutions, including revised Law on Credit Institutions. The Law on Credit Institutions was passed by the National Assembly on December 12, 1997, and took effect on October, 1998. Five years on, the law has been exposed as having severe limitations in fostering Viet Nam’s industrialiaation and modernisation, economic integration, and administrative reform. It also has a number of regulations that allow intervention by State authorities in the professional operation of credit institutions, rendering them ineffective. … [Read more...] about Amendments to Law on Credit Institutions

Talking Law (08-02-2006) New Investment Law lessens regulatory load Alongside the new Enterprise Law, the new Law on Investment (often referred to as the Unified Investment Law because its provisions will govern both domestic and foreign-invested enterprises) was passed by the National Assembly in November 2005. The legislation was passed despite many lingering arguments about some of its provisions, as well as some issues which drafters omitted from including in the law. Generally, the Unified Investment Law goes a long way to ease the regulatory burden on investors and erasing some of the distinctions between domestic and foreign investors. On the other hand, the core provision of the law still requires foreign investors to register and obtain a licence for specific projects in Viet Nam, a procedure that still tends to discourage new investors from entering the market here. Twenty years since the old Law on Foreign Investment (LFI) was implemented, the … [Read more...] about New Investment Law lessens regulatory load

Government In Action (09-07-2007) Prime Minister Nguyen Tan Dung has: Viet Nam-Mozambique pact ratified ... ratified an agreement on healthcare co-operation between Viet Nam and Mozambique. The document was signed in Ha Noi in January. The Prime Minister has asked the Health Ministry to implement the agreement and the Ministry of Foreign Affairs to complete ratification procedures. Decision No 99/2007QD-Ttg, dated July 6, 2007. Trade, commerce committee formed with UK ... given the nod to the Trade Ministry’s proposal to establish the Viet Nam-UK Mixed Committee on Economy and Trade. The aim of the committee is to boost and effectively implement bilateral ties on economy, trade and investment. The Trade Ministry will co-ordinate with relevant authorities to negotiate and sign the agreement so the committee can be put together. Official letter No 3637/VPCP-QHQT, dated July 2, 2007. Government to fund evacuations Deputy … [Read more...] about Viet Nam-Mozambique pact ratified