IPNews-Monrovia: It was 12noon in Liberia when the official website carried the dismissal with immediate effect the Nathaniel T. Blama, Executive Director, Environment Protection Agency (EPA), for acts of ‘fraud’.

Fraud is defined as the ‘overutilization of services, or other practices that directly or indirectly result in unnecessary costs’.

The Executive Mansion release stated that President George Manneh Weah dismissal of Mr. Blama, is contingent upon his unilateral signing of a US$20 million contract without the signatures of the ministers of Justice and Finance contrary to law and established governmental principles and procedures on March 7, 2020.

The release further stated that investigation conducted by the Ministry of Justice established that Mr. Blama did not adhere to legal requirements, standards procedures regarding the ‘selling of the Government of Liberia assets’.

Furthermore, President Weah has warned that he will not entertain any unscrupulous behavior of any government officials. The President reiterated his zero-tolerance stance against corruption.

President Weah further appointed Randall M. Dobayou, Deputy Executive Director of EPA will act as head of the entity pending the appointment of an Executive Director.

In all this, IPNews has obtained a copy of the full agreement entered into on March 7, 2020, by the Environmental Protection Agency and the CO2BIT Technologies LLC.

The purpose of agreement states: “The purpose of this agreement is to set out the terms and conditions under which the company shall award and the EPA acquire a future right to utilize  CO2BIT, coins as part of finance mechanism within the Republic of Liberia for the sole purpose of addressing climate change effects associated with declining CO2 Sequestration within the Republic of Liberia”

CO2BIT is part of an international dispersed group of technologies and philanthropist undertaking the creation and support of CO2BIT, a Secure Network Based Digital Asset created as a mechanism to finance and promote the proliferation of sustainable carbon neutral energy generation projects and Assets to enable evolving participation in our global economy for all.

Under the terms of agreement, (Interpretation ), the headings (parties), agreed to “insert for convenience only and  shall not affect its construction; A reference to a particular law it is to enforce for the time being taking account of the amendment, extension, or-enactment and includes any subordinate legislation for the time in force made under it.”

The agreement also states that for the award, the company (CO2BIT), shall award five million CO2BITcoins to the EPA for the purpose of the award.

Count 2.2., Of the award also states that the CO2BIT shall deliver the encrypted key associated with the CO2BITcoins and any passwords or asset as well as any and all other transaction documents related to this (agreement) award, including verification of accredited investor status and transactions under the applicable securities laws.

The parties further agreed that ‘no sale or transfer of the CO2BITcoins assets shall be permissible for nine (9 months) from the issuance of the award. Thereafter, the parties shall execute any documents and take all appropriate actions as may be necessary to give effect to the transfer of the funds for the ‘Purpose’.

Furthermore, the parties agreed that the CO2BITcoins awarded to Liberia shall be sold, bartered or liquidated in any manner a value below 2 euros per COSBITcoins.

Additionally, the agreement stipulates that the parties will designate representative to Award.

Under the management of the agreement, the parties agreed that the EPA shall solely be responsible for the identification of climate change mitigating activities and allocation of funds for the purpose and shall appoint a management team, which shall be responsible for the management of the funds raised from the Award; that any and all proceeds through the sale of the Award shall be distributed promptly to the activities identified in accordance with clause 3.1.

Clause 3.1 states: “the EPA shall solely be responsible for the identification of climate change mitigating activities and allocation of funds for the purpose and shall appoint a management team which shall be responsible for the management of the funds raised from the Award.”

Part V of the agreement covering ‘conduct of the parties’, agreed to adopt the following principles when implementing the Purpose of the agreement, which includes:

Collaborate and co-operate. Ensure that this agreement is implemented and actions taken as required; be accountable, take on manage and account to each other for performance of the respective roles and responsibilities set out in this agreement in line with the TACCC principles, Transparency, Accuracy, Competencies, Comparability, Constancy; be opened, Communicate openly about major concerns, issues, or opportunities relating to the purpose; learn, develop and seek to achieve full potential. Share information, experience, materials, and skills to learn from each other and develop effective working practices, work collaboratively to identify solution, eliminate duplication of efforts, mitigate risk and reduce cost;

Additionally, the conduct of the agreement states that the parties shall adopt a positive outlook. Behave in a positive, proactive manner; adhere to statutory requirements and best particle. Comply with the applicable laws and standards; act in a timely manner. Recognize the time-critical nature of the purpose and respond accordingly to request for support; deploy appropriate resources. Ensure sufficient and appropriate qualified resources are available and authorized to fulfill the Purpose; and act in good faith to support achievement of the Purpose and compliance with these principles.

Indemnity:

Under the Indemnity clause,  C02BIT agreed to ‘indemnify and keep indemnified the EPA, its representatives and assigns against all actions, proceedings, losses, demands, costs, damages , claims, expenses, and other liabilities that may be incurred or suffered but the EPA or for which the EPA may be or become liable by reason of the Award or by reason of any dealing or translation involving the CO2BITcoins in any manner whatsoever by reason of any action or omission taken or omitted by the Company (CO2BIT) since the issuance of the Award’.

Furthermore, the agreement specified further assurance that ‘ the Company (CO2BIT) shall use all reasonable endeavors to procure that any necessary third party shall promptly execute and deliver such documents and perform such acts as may reasonably be required for the purpose of giving full effect to this agreement. Additional clause of the agreement addressing consolations states that: if either party has any issues, concerns, or complaints or any matter in this agreement, that party shall notify the other party and the parties shall then seek to resolve the issue by a process of consolation.

The consulation clause also states that ‘ if either party receives any formal inquiry, complaints , claim, or threats of action from a third party in relation to this agreement, that party shall notify the other party and the parties shall then seek to resolve the issues, by a process of consultation. No action shall be taken in response to such inquiry, complaint, claim, or action, to the extent that such response would be adversely affect the implementation of agreement, without the prior approval of either party.

Term of the Agreement:

The agreement states that the agreement shall commence on the written (March 7, 2020), and remain in force and effect for an initial period of five years. At the end of the initial year (five years) the agreement will automatically renew in one-year increment (Renewal Term), unless and until the agreement is terminated.

Termination:

The CO2BIT and EPA agreement furthermore states that ‘either party shall have the right to terminate this agreement, effective as of the end of the initial term or any renewal Term, by providing the other with written notice of termination at least thirty (30) days prior to the end of such Initial Term or Renewal Term.

The termination clause also notes that: “ Neither party shall have the right to terminate this agreement at any other time, unless  such terminations is mutually agreed to by the parties hereto; The Award shall terminate upon termination of this agreement.

With all this, legal pundits wondered how did Nathaniel Blama contravened existing laws relating to operational agreements entered into by government line Ministries and Agencies.

Section 6-R-S, of the Act creating the Environmental Protection Agency of the Republic of Liberia, approved by the National Legislature, approved on November 26,2002, captioned ‘The Functions of the Agency, empowered EPA to carry out the following functions, especially:

R: “Function as the national clearinghouse for all activities relating to regional and international environment-related conventions, treaties and agreements, and as national liaison with the secretariat for all such regional and international instruments;

S: Improve efficiency of financial processes under multilateral agreements by prioritizing and harmonizing host and donor priorities in programmes, project preparation and design;

IPNews is making frantic efforts in getting Justice Minister Frank Musa Dean, on clarification of ‘fraud’, mentioned in the Press release issued by the Executive Mansion official website.

It may be recalled, before his suspension for allegedly breaking ‘Health Protocols, Nathaniel Blama for the first time ever hosted brought to Monrovia the entire Green Climate Change-GCF,  Board Members pledging to scale-up strategic financing for climate change valued over 50 million Euros, with an additional 110 million over the next five years from the Paris Conference of climate change adaptation.

Additionally, Members from the Green Climate Fund (GCF) Board agreed to fund three major projects in Liberia worth over US$ 100 Million at the just ended Informal Board Meeting which is expected to be held this August in Latin America.

The GCF is a global fund created to support the efforts of developing countries to respond to the challenge of climate change. The Fund is a platform that allows investment in low-emission and climate-resilient development, which will help countries reduce their greenhouse gas (GHG) emissions and adapt to climate change.

With this axing, one can imagine the next guess….. Investigation continues.

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