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Davidson Iriekpen The stage may have been set for a showdown between Ecobank Transnational Inc (ETI) and one of its former senior executives, Moyo Kamgaing, as the National Industrial Court sitting Lagos, has ordered him to serve court processes on the organisation (ETI) at its head office in Lomé, Togo. Justice Elizabeth Ama Oji granted the application while ruling on the preliminary objection filed by ETI to challenge the service of the court processes on it in Lome by courier. ETI terminated the employment of Kamgaing with effect from October 1, 2020, allegedly on economic grounds, to end ETI’s Investment Bank (IB) as a stand-alone unit. ....
Oil-dependent developing nations face huge shortfall The energy transition means that countries such as Nigeria and Ecuador will suffer falling revenue and need to start preparing a strategy Government oil and gas revenues worldwide could be $13tn less over the next two decades, compared with a business-as-usual scenario of continued growth demand and firm long-term prices, according to a report by thinktank the Carbon Tracker Initiative. Under the IEA sustainable development scenario, which sees a 50pc chance of temperature rises being limited to 1.65°C this century, government revenues from oil and gas sales will be approximately half those under the IEA’s ‘stated policies’ scenario, which reflects governments’ announced policy intentions. ....