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Sale Of Assets: Amaechi, Ukpo, Cole, Six Ex-Commissioners For Prosecution

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The former Governor of Rivers State, Chibuike Rotimi Amaechi, Chairman of Sahara Energy Resources, Tonye Cole, ex-military administrator, Brigadier Anthony Ukpo (rtd) and six former commissioners for Health, Power, Transport, Commerce, Finance and Agriculture, are to face prosecution for the sales and buying of state-owned assets, a White Paper on the Justice George Omeregi Commission report has recommended.
The White Paper on the panel report  released over the weekend by the State Executive Council after a meeting on Thursday, directed the Attorney-General and Commissioner for Justice, Emmanuel Aguma, a Senior Advocate of Nigeria (SAN) to immediately commence judicial process of recovering the assets.
Briefing newsmen on the details of the report, Commissioner for Housing, Barrister Emma Okah, stated that the sales of the 70 per cent equity share of the four gas power turbines at Omoku, Eleme, Trans-Amadi and Afam, totalling 621 megawatts at the cost of $800,000 per unit to Sahara NG HPS Limited was unjustifiable and against the interest of the state.
It also said the transaction was not transparent as NG Power HPS Ltd was yet to pay an outstanding balance of $28.4 million, after it acquired the power plants below market price of $432 million, even though actual balance was $146.5 million.
On the sale of Olympia Hotel, the report also picked holes in the concessioning agreement leasing the property for 40 years to one Centro Sarotem Hotel Limited for a fee of $1miilion  equivalent to  about N55.7million. While the actual sum of $2.4 million was to be paid, the cumulative concession value of the property and land was put at $3.450 million.
In the words of Okah, “the commission called for the review of the concession agreement covering the value of land, deduction of concession and for non-employment of Rivers State indigenes”.
Okah revealed that the commission further uncovered an illegal account opened by the Ministry of Commerce where about $155.7 million from the hotel concession was lodged.
“The account was opened by the ministry without the requisite authorization of the Accountant–General of the State,”Okah stated.
On the Monorail Project, the white paper indicted former military administrator of old Rivers State, Brigadier Anthony Ukpo, whose company, TSI Ltd had entered into a partnership agreement with Rivers State Government on the project.
While the state government was to contribute 20 per cent and TSI 80 per cent, yet the private partner never contributed as the state invested over N35 billion, which N11 billion was paid to Rivers State Monorail Company Limited managed by TSI Ltd.
The white paper called for the recovery of the fund from the company, Amaechi and former Transport Commissioner, George Tolofari, who were the masterminds of the failed project, as it frowned at the huge sum paid to Argus Gibbs a consultancy firm on the project at the tune of N696million since it contravened Section 52 of the State Procurement Law No4 of 2008.
The White Paper also directed the Attorney–General and Commissioner for Justice to commence legal proceedings to recover funds meant for the planned Adolphus Karibi Whyte Mega Hospital which never saw the light of the day.
The hospital initially conceived under private partnership deal shared funding between the state and one Clinotech Ltd 40 to 60 per cent.
While the state government contributed its own funding of $39 million, Clinotech failed in its obligation.
As if that was not enough, the report revealed that the state government went further to release a new Clinotech Turnkey project to the tune of N150 million as mobilization fee.
“The commission found that Clinotech Turnkey Management Ltd got N200 million paid in excess with nothing to show”, the report  further revealed.
The report picked holes in the disbursement of the N2billion agric loan. The panel found that in June 2014 the past administration had accessed the loan from the Central Bank with plans to disburse to qualified agric cooperatives societies, but rather than do so, it gave the loans to politicians and cronies.
“About 282 cooperatives societies were hurriedly registered in 2014, while 38 were never registered at all,” according to the report.
The commission also found that the various local government chairmen were made managers of the fund, and therefore, called on former Governor Amaechi, the Agric Commissioner and those who disbursed the fund against the loan guidelines to be prosecuted and made to refund the monies.
On the State Reserve Fund, the panel found that over N38billion was saved in the account set up in 2008.
The fund grew to about N55billion in 2014 through investments. But in March 2014, the Rivers State House of Assembly passed a bill to remove the emergency clause to withdraw monies from the fund.
The amendment gave room for the withdrawal of N53billion between February 2014 to March 2015.
According to the panel, “the attempt by Governor Amaechi to withdraw the last N1.2 billion was prevented by some government institutions.”
The White Paper recommended that the ex-governor and principal officers of the House be prosecuted, while the former Secretary to the State Government be made to refund sum of N400million withdrawn in March and another N170 million withdrawn on 25th March.
The report also directed the owner of Orosi House to be made to account for about N300million for the lease of the property in 2012, even after the building had been gutted by fire some years before.

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Victory Over Insurgency Certain, Tinubu Assures

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President Bola Tinubu has expressed confidence that the country would win the fight against insecurity.

The President gave the assurance at the Argungu International Fishing Festival in Argungu town, Kebbi State, on Saturday.

He noted that the relative peace currently being enjoyed in Kebbi and neighbouring states was the result of sustained investments in security intelligence, coordination among security agencies, and community engagement.

Tinubu assured farmers and fishermen of sustained federal support to guarantee food security and safety across the country.

“The peace we are witnessing today is not accidental. It is the outcome of deliberate and sustained efforts. I assure you that the fight against banditry, insurgency, and insecurity will be won.

“Our farmers, fishermen, traders, and families will go about their lawful activities without fear,” he assured.

The President commended the organisers of the festival for sustaining the cultural event for decades, noting that it had endured for 83 years despite social and security challenges.

Describing the Argungu festival as a powerful symbol of unity, resilience, and peaceful coexistence, Tinubu stated that it reflects the richness of the country’s culture and the opportunities to harness its natural and human resources for national growth.

He said, “Today, this festival stands as a powerful symbol of unity, resilience, and peaceful coexistence among our people.

“It reflects the richness of our culture, the strength of our traditions, and the opportunities inherent in harnessing our natural and human resources for national development.”

The President was received by a large crowd of residents, traditional rulers, fishermen, tourists, and government officials from across the country.

The President reaffirmed his administration’s commitment to youth and women empowerment, irrigation development, rural electrification, and agricultural productivity.

Earlier, the Kebbi State Governor, Nasir Idris, said his administration was determined to elevate the Argungu Fishing Festival to full international standards while pursuing aggressive development across critical sectors of the state.

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US Embassy, Lagos Consulate Close Today For President’s Day

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The United States Embassy in Abuja and the Consulate General in Lagos will be closed today, in observance of Presidents’ Day.

The mission made this known in a notice shared on its official X page, yesterday.

“The U.S. Embassy in Abuja and the Consulate General in Lagos will be closed on Monday, February 16, 2026, in observance of Presidents’ Day,” the post read.

According to the embassy, Presidents’ Day was originally established to honour the birthday of the former US President, George Washington, but has evolved into a day to celebrate all U.S. presidents and their leadership in shaping the country’s history.

The embassy noted that the holiday also recognises the influence of U.S. presidents on global affairs.

In a related message, the mission highlighted that Washington created the first “Badge of Military Merit,” which later became the Purple Heart. The medal still bears Washington’s image today.

Presidents’ Day is observed on the third Monday of February annually in the United States as a federal holiday.

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Guterres Backs Nigeria’s Bid For UN Security Council Seat …Hails Tinubu’s Reforms, Regional Security Role

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United Nations Secretary-General, António Guterres, has charged Nigeria with spearheading Africa’s quest for a restructured global order, describing the country as uniquely positioned to lead the continent toward superpower status.

Guterres, who backed Nigeria’s bid for the world body’s security council seat, also praised the economic reforms of the President Bola Tinubu-led administration as well as Nigeria’s leadership in stabilising the Sahel and ECOWAS regions, despite facing its own security challenges.

The UN scribe made the remarks last Friday night during a high-level bilateral meeting with Vice President Kashim Shettima on the sidelines of the 39th African Union (AU) Summit in Addis Ababa, Ethiopia.

Speaking during the meeting, Guterres said Nigeria’s large population, sustained democratic governance, vast natural and human resources, and longstanding commitment to multilateralism placed it in a unique position to lead Africa in the evolving global order.

“Given Nigeria’s demographic strength, democratic continuity and deep resource base, the country stands a real chance of leading Africa to becoming the next superpower in the evolving global architecture,” he said.

The UN Secretary-General and the vice president discussed key developments in Nigeria and the country’s expanding leadership role in promoting regional stability across West Africa and the Sahel.

Guterres commended the remarkable and outstanding reforms of the administration of President Tinubu, noting that Nigeria’s bold economic restructuring and security commitments have strengthened its continental standing.

The meeting focused on strengthening Nigeria–UN collaboration to advance global economic growth, peace and security, sustainable development, and a coordinated humanitarian response across Africa.

In his remarks, Shettima thanked the UN Secretary-General for his leadership in advancing global peace, noting that Africa has benefited immensely from his tenure, even as the United Nations undergoes internal restructuring.

“We remain committed to multilateralism and to deepening our partnerships with the United Nations and other global institutions,” the vice president said.

Shettima also reiterated Nigeria’s longstanding call for comprehensive reform of the United Nations system to reflect evolving global realities.

He emphasised that Africa must have stronger representation in global decision-making structures and declared that Nigeria deserves a permanent seat on the United Nations Security Council.

Both leaders pledged to deepen cooperation, with Guterres reaffirming the UN’s support for Nigeria’s reform agenda and its growing leadership role in advancing peace, security, and development across Africa.

 

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