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FG Has Looted Repatriated $322m -PDP

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The Peoples Democratic Party has said there is an alleged looting of the repatriated $322million (about N115billion), by the Muhammadu Buhari Presidency, under the cover of distributing the money to the poor.
It also alleged that over N4billion had been looted under the Tradermoni and the Farmers Anchor Borrower schemes to fund President Muhammadu Buhari’s 2019 re-election campaign.
It, therefore, urged the Economic and Financial Crimes Commission to investigate the alleged lootings.
The PDP National Publicity Secretary, Kola Ologbondiyan in a statement last Wednesday also urged the EFCC to commence the prosecution of all those reportedly indicted by the House of Representatives, alongside Vice President Yemi Osinbajo, for alleged diversion of a huge part of the N33billion meant for food and other welfare items for Internally Displaced Persons in the North East.
Ologbondiyan, who is also the Director, Media and Publicity, PDP Presidential Campaign Organisation, stated that the investigation into the alleged looting, as well as the recovery of the alleged stolen funds from the coffers of the Buhari Presidential Campaign, must not be carried over into 2019.
He said, “The PDP PCO charges the EFCC to investigate the alleged looting of over N4billion under the Tradermoni and the Farmers Anchor Borrower schemes, to fund President Muhammadu Buhari’s 2019 re-election campaign.
“The PDP PCO also urges the EFCC to open investigation into the alleged looting of the repatriated $322million (about N115billion), by the Buhari Presidency, under the cover of distributing the money to the poor.”
He added, “On the repatriated N115billion, we charge the EFCC to make public its findings on the allegation that 90 per cent of the estimated 300,000 households listed as beneficiaries are phony family names supplied by fraudulent government officials, as conduit to channel the repatriated money to APC leaders and the Presidency cabal.
“It is rather despicable, after looting over N14trillion in unremitted oil revenue, the Presidency cabal and the All Progressives Congress leaders are also hiding under the plight of innocent Nigerians to further siphon funds for their selfish ambitions.”
According to him, Buhari was being very unfair to Nigerians in asking them to get ready for more suffering in 2019 when trillions of naira meant for their wellbeing have been allegedly siphoned and stashed away in his campaign coffers, where APC leaders also allegedly fritter away funds to finance their lifestyles.
He stated that the EFCC should note that Nigerians were already aware that agents of the Presidency and the APC are allegedly involved in N1.2billion round-tripping of public funds under the Anchor Borrowers’ Programme.
Ologbondiyan said, “Nigerians are also in the know that agents of the Presidency, under the watch of Vice President Osinbajo, are being used to divert huge part of the budgeted sum for the Tradermoni scheme while handing out paltry sums to unsuspecting beneficiaries, who are further fleeced through 10 per cent kickbacks by APC agents”.

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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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