By Olasunkanmi Akoni

Lagos—Governor Akinwunmi Ambode of Lagos State yesterday swore in the Chairman and members of the Lagos State Independent Electoral Commission, LASIEC, just as he charged them to live above board and be fair to all parties in the discharge of their duties. Governor Ambode, who spoke during the swearing-in ceremony at the Lagos House, Ikeja, said the new Chairman, Justice Ayotunde Philips (retd) and other members of the Commission were carefully selected based on their track record of meritorious service and unquestionable integrity, hence they must be transparent and fair to all without giving undue advantage to one party over another.

The Governor said his administration places high premium on the Rule of Law, just as he vowed that the Executive arm of government would not do anything to directly or indirectly interfere in the affairs of the Commission. He said LASIEC, as the statutory body saddled with the responsibility of conducting Local Government elections, has a critical role to play in entrenching the democratic process in the State, and therefore the newly sworn-in members must go all out to ensure the credibility of the electoral process.

Members of the Commission are Justice Philips (Chairman), Dr. Bunmi Omosehindemi, Mr. Lateef Raji, Mrs. Toyin Famakinwa and Mr. Olusegun Ayedun, with Mr. Olumide Lawal as the Permanent Secretary. Responding, Justice Philips thanked Governor Ambode for the confidence reposed in her and other members, and assured that they would do all within their powers to ensure credible, free and fair elections. She also said that her tenure would witness the transformation of LASIEC to an institution that would be envied and emulated by other States of the Federation.

LASG saves over N10bn by restructuring LCC loan

Meantime, the Lagos State Executive Council yesterday approved the restructuring of the Lekki Concession Company, LCC, loan facility provided by local and international lenders. The State Government in a statement issued by the Commissioner for Information and Strategy, Mr. Steve Ayorinde, said that it has paid a total of N9.8billion in full and final settlement of LCC’s indebtedness to its international lender, which granted a 21.16 per cent haircut (reduction) to the State. He said as a result, a sum of N3.15billion was saved.

The Commissioner said that in addition, local lenders, whose interest rate was 18.5 per cent at the consummation of the facility, offered a 12 per cent haircut and also fully paid with a restructured loan at 13.5 per cent, thereby creating a savings of N8.7billion for the Government. Ayorinde also reiterated the State Government’s commitment to continue to deploy appropriate public finance management principles to ensure adequate provision of infrastructure to all Lagosians.