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Return Ikoyi $43m Or Risk Legal Action – RSG …SERAP Urges Buhari To Clarify Identity Of Owners

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The Rivers State Governor, Chief Nyesom Wike, has given the Federal Government seven days ultimatum to return the $43million found in a luxury apartment on Osborne Road, Ikoyi, to the Rivers State Government.
The governor warned that failure to return to money would force the state government to take legal measures to ensure that it gets back her stolen resources.
Wike further declared that the $43million found in the luxury apartment in Ikoyi belongs to the Rivers State Government.
He said that investigations by the Rivers State Government revealed that the money was proceed from the sale of gas turbines by the immediate past Rivers State Governor, Chibuike Rotimi Amaechi.
Addressing journalists at the Government House, Port Harcourt, last Friday, Wike said: “The money in question belongs to the former Rivers State Governor, Chibuike Rotimi Amaechi. We want to confirm that the houses in Ikoyi also belong to Chibuike Rotimi Amaechi.
“If you recollect in 2015, we said that gas turbines built by former governor, Dr Peter Odili, were sold to Sahara Energy, business partners of Chibuike Rotimi Amaechi at $319million.
“That money was used to sponsor the All Progressives Congress (APC) for the 2015 general elections. From the date of sale of the gas turbines to May 29, 2015, the money depleted from $319million to $204,000. What was stashed at the Ikoyi residence was part of that fund”.
He said: “We have facts to prove that the said money belongs to the Rivers State Government. The Federal Government must return our money”.
Wike said all the stories being peddled about the money belonging to the National Intelligence Agency (NIA) are false and mere face-saving measures by the embattled APC-led Federal Government.
He said: “As I speak to you, the Federal Government is so embarrassed that this has happened. All the stories that the money belongs to the NIA are fake”.
Wike challenged the Federal Government to set up a panel of inquiry, which will sit publicly to investigate the money, if it doubted the claim of the Rivers State Government.
He stated that the Rivers State Government needs the money to complete an array of projects, insisting that on no account would this criminal activity be swept under the carpet.
The governor said as long as the Federal Government continues to disturb the progress of Rivers State, so long will God throw the Federal Government into confusion.
“We are giving them seven days to return our money. Otherwise, we would take legal action to recover our money. $43million will help us complete several projects. We need that money for projects”, he added.
It would be recalled that a former minister of aviation, Chief Femi Fani-Kayode, had also claimed that the money belongs to Amaechi.
Fani-Kayode, who wrote this on his Twitter page, also dismissed reports that the money belonged to the NIA.
He insisted that the minister of transportation owns the flat where the money was found.
“The $43million is Rotimi Amaechi’s. He owns the flat it was found in too. NIA’s story is fake news! NIA does not keep cash in any minister’s flats!”, Fani-Kayode tweeted.
Meanwhile, in the aftermath of the controversy surrounding the ownership of the N13billion ($43.4million, N23million and £27,000) found by the Economic and Financial Crimes Commission (EFCC) at the Osborne Towers, Ikoyi, Lagos, the Socio-Economic Rights and Accountability Project (SERAP), has urged President Muhammadu Buhari to “urgently address the country on the matter so as to clarify the issue, and resolve lingering doubts among Nigerians regarding the real owner(s) of the cash.”
The organization also called on the president to “ensure legal backing for his government’s whistle-blowing policy by vigorously pursuing the passing by the National Assembly of the Whistle-blower Bills.”
It would be recalled that both Rivers State Governor, Nyesom Wike and the National Intelligence Agency (NIA), last week, reportedly claimed ownership of the cash, casting doubts on the ‘real claimants.’
A statement, yesterday, by SERAP Executive Director, Adetokunbo Mumuni, said that, “The government’s increasing reliance on whistle-blowers’ tips to fight corruption has to be backed by some level of transparency and accountability on the real identities of those claiming recovered cash.
“Clearing the doubts surrounding the real identities of those behind the Ikoyi cash haul would demonstrate that the president values transparency over secrecy, provide further encouragement to blow the whistle on corruption in government, and enhance the public’s right to know,” SERAP said.
According to the organization, “Democracy abhors secrecy, and for Nigerians to be able to hold elected leaders accountable, they must have access to information such as on the real identities of those behind the Ikoyi cash haul. This transparency is fundamental to the operation of the government’s whistle-blower policy, and inextricably rooted in the notions of good governance and the rule of law under the 1999 Constitution (as amended).”
The statement read in part: “No good comes from secrecy in governance, as officials who have become accustomed to operating without accountability are loath to relinquish the power that comes from conducting their business without public scrutiny. When public authorities resist efforts to shine a light on their activities, it gives the impression that there is something to hide. It’s counter-productive to overstate national security based on secrecy needs, as secrecy encourages poorly informed and under-vetted decision-making.
“Public scrutiny is a prerequisite for changing harmful, entrenched practices. Rather than operating the whistle-blower policy as hidden, mysterious mechanism at the far edge of democracy, this government should make the operation of the policy more transparent and accessible to the public. Both transparency and accountability are necessary to uphold the rights of victims of corruption and ensure that suspected perpetrators are held to account. The ‘sky will not fall’ if the true identities of those behind the Ikoyi cash haul are revealed,” SERAP argued.
“It’s clear that as the EFCC continues to uncover more suspected looted or ill-gotten cash, those blowing the whistle will need greater level of protection. But without outlawing retaliation and attacks against whistle-blowers, and taking a firm stance on protecting them, the incentive of bounty rewards would be negated, as potential whistle-blowers may be discouraged from performing invaluable public interest service.
“The policy of giving whistle-blowers some percentage of recovered loot would seem to be a game changer in the fight against corruption but this government now has to squarely address the significant risks that those who blow the whistle face by urgently working with the National Assembly to ensure the necessary legal backing that would ensure protection against reprisals and attacks.
“The government should ensure that the National Assembly expedites the process of passing the Whistle-Blower Bill, as ensuring that the bill is passed without further delay would recognize the necessity of whistleblowers and the value they add to the anti-corruption fight by reporting otherwise unknown corruption-related information. It would also ensure that whistle-blowers are fully protected from any retaliation and attacks they may experience, and that the government fully appreciates the information they provide.

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Tinubu Hails NGX N100trn Milestones, Urges Nigerians To Invest Locally

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President Bola Tinubu yesterday celebrated the Nigerian Exchange Group’s breakthrough into the N100tn market capitalisation threshold, saying Nigeria has moved from an ignored frontier market to a compelling investment destination.

Tinubu, in a statement signed by his Special Adviser on Information and Strategy, Bayo Onanuga, urged Nigerians to increase their investments in the domestic economy, expressing confidence that 2026 would deliver stronger returns as ongoing reforms take firmer root.

He noted that the NGX closed 2025 with a 51.19 per cent return, outperforming global indices such as the S&P 500 and FTSE 100, as well as several BRICS+ emerging markets, after recording 37.65 per cent in 2024.

“With the Nigerian Exchange crossing the historic N100tn market capitalisation mark, the country is witnessing the birth of a new economic reality and rejuvenation,” Tinubu said.

He attributed the stellar performance to Nigerian companies proving they can deliver strong investment returns across all sectors, from blue-chip industrials localising supply chains to banks demonstrating technological innovation.

The President added, “Year-to-date returns have significantly outpaced the S&P 500, the FTSE 100, and even many of our emerging-market peers in the BRICS+ group. Nigeria is no longer a frontier market to be ignored—it is now a compelling destination where value is being discovered.”

Tinubu disclosed that more indigenous energy firms, technology companies, telecoms operators and infrastructure firms are preparing to list on the exchange, a move he said would deepen market capitalisation and broaden economic participation.

He also cited what he described as a sustained decline in inflation over eight months—from 34.8 per cent in December 2024 to 14.45 per cent in November 2025—projecting that the rate would fall below 10 per cent before the end of 2026.

“Indeed, inflation is likely to fall below 10 per cent before the end of this year, leading to improved living standards and accelerated GDP growth. The year 2026 promises to be an epochal year for delivering prosperity to all Nigerians,” he said.

The President attributed the trend to monetary tightening, elimination of Ways and Means financing, and agricultural investments, which he said helped stabilise the naira and ease post-reform pressures.

Nigeria’s current account surplus reached $16bn in 2024, with the Central Bank projecting $18.81bn in 2026, reflecting a trade pattern shift toward exporting more and importing less locally-producible goods.

Non-oil exports jumped 48 per cent to N9.2tn by the third quarter of 2025, with African exports nearly doubling to N4.9tn. Manufacturing exports grew 67 per cent year-on-year in the second quarter.

Foreign reserves have crossed $45bn and are expected to breach $50 billion in the first quarter, giving the CBN ammunition to maintain currency stability and end the volatility that previously fuelled speculation, according to the President.

Tinubu also highlighted infrastructure expansion in rail networks, arterial roads, port revitalisation, and the Lagos-Calabar and Sokoto-Badagry superhighways, alongside improvements in healthcare facilities that are reducing medical tourism costs, and increased university research grants funded through the Nigeria Education Loan Fund.

“Our medicare facilities are improving, and medical tourism costs are declining. Our students benefit from the Nigeria Education Loan Fund, and universities are receiving increased research grants,” he said.

He described nation-building as a process requiring hard work, sacrifices, and citizen focus, pledging to continue working to build an egalitarian, transparent, and high-growth economy catalysed by historic tax and fiscal reforms that came into full implementation from January 1.

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RSG Kicks Off Armed Forces Remembrance Day ‘Morrow  …Restates Commitment Towards Veterans’ Welfare

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The Rivers State Government has reiterated its commitment towards the welfare of veterans, serving officers and widows of fallen officers in the State.

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?The Secretary to the Rivers State Government, Dr. Benibo Anabraba, in a statement by ?Head, Information and Public Relations Unit, SSG’s ?Office, ?Juliana Masi, stated this during the Central Planning meeting of the 2026 Armed Forces Remembrance Day in Port Harcourt, yesterday.

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?Anabraba thanked the Committee for their contributions to the success of the Emblem Appeal Fund Ceremony recently held in the State and called on them to double their efforts so that the State can record resounding success in the remaining activities.

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?According to him, the remembrance day events will begin with Jumaàt Prayers on Friday, 9th January at the Rivers State Central Mosque, Port Harcourt Township, while a Humanitarian Outreach/Family and Community Day will be hosted on Saturday, 10th January, by the wife of the governor, Lady Valerie Siminalayi Fubara, for widows and veterans.

?”On Sunday, 11th January, an Interdenominational Church Thanksgiving Service will hold at St. Cyprian Anglican Church, Port Harcourt Township while the Grand-finale Wreath- Laying Ceremony will hold on Thursday, 15th January at the Isaac Boro Park Cenotaph,  Port Harcourt”, he said.

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?The SSG noted that one of the highlights of the events is the laying of wreaths by Governor Siminalayi Fubara and Heads of the Security Agencies.

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Fubara Redeploys Green As Commissioner For Justice

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The Governor of Rivers State, Sir Siminalayi Fubara, has approved a minor cabinet reshuffle in the State Executive Council.

Under the new disposition, Barrister Christopher Green, who until now served as Commissioner for Sports, has been redeployed to the Ministry of Justice as the Honourable Attorney General and Commissioner for Justice.

This is contained in an official statement signed by Dr. Honour Sirawoo, Permanent Secretary, Ministry of Information and Communications.

According to the statement, Barrister Green will also continue to coordinate the activities of the Ministry of Sports pending the appointment of a substantive Commissioner to oversee the ministry.

The redeployment, which takes immediate effect, was approved at the last State Executive Council meeting for the year 2025, underscoring the Governor’s commitment to strengthening governance, ensuring continuity in service delivery, and optimising the performance of key ministries within the state.

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