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EFCC Can’t Probe RSG’s Account -Wike …Challenges Commission To Vacate Court Order …Warns Zenith Bank Against Revealing Account Details

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The Rivers State Governor, Chief Nyesom Wike has reiterated that the Economic and Financial Crimes Commission (EFCC) has no powers to investigate the financial transactions of the Rivers State Government.
He said that before EFCC can investigate the Rivers State Government, it must first vacate the Federal High Court judgement that declared that it cannot investigate the financial transactions of the Rivers State Government.
Wike spoke, yesterday, during a courtesy visit by the Group Managing Director-Designate of Zenith Bank Plc, Mr Ebenezer Onyeagwu.
The governor said: “EFCC has no powers to look into our financial transactions. You cannot be giving our financial transactions to the EFCC, because that is illegal.
“Unless the EFCC sets aside the judgement, they have no powers to look into our financial transactions. Not that we are afraid, but due process must be followed”, Wike insisted.
He said that if Zenith Bank refuses to obey the court judgement, Rivers State Government would be compelled to file the necessary processes to ensure the right thing was done.
The governor commended Zenith Bank for supporting projects’ execution in the state through loan facilities, adding that the Rivers State Government would complete the payment of loans acquired by May ending.
“You have supported the state in terms of infrastructure. You have also supported us for our inauguration”, he said.
He, however, urged the management of Zenith Bank to consummate the long relationship with Rivers State Government by ensuring that Rivers people grow in the bank.
Wike congratulated Mr Ebenezer Onyeagwu on his appointment as the group managing director-designate of the Zenith Bank, emphasising that his appointment was due to commitment and hardwork.
“Since 1999, this relationship has been there, and it will be there. Try to ensure that Rivers people grow in the bank”, he added.
In his remarks, the Group Managing Director-Designate of Zenith Bank Plc, Mr Ebenezer Onyeagwu congratulated the Rivers State governor on his re-election.
“Every one of us in Zenith Bank is very pleased over the success you have recorded. We also want to use this opportunity to congratulate you on your victory at the last election, and wish for a glorious second term”, he said.
Onyeagwu said that Zenith Bank prays for Wike to make greater progress during his second term.
He said that he was in Rivers State to inform the governor that he would take over the leadership of the bank on June 1, 2019.
“Zenith Bank and Rivers State have been in partnership for over 20 years. We want to assure you that in this moment and in this time, our expectation is that this partnership will get even bigger and stronger.
“We want to assure you of our utmost loyalty and support for the ideas and aspirations of your government. It is our pleasure that Zenith Bank is willing to support the various development initiatives of your government.
“At this second half, going by your disposition, going by your perspective that we know, our expectation is that it will even be raised higher. Even as the tempo is raised higher, the support of Zenith Bank will remain consistent”, Onyeagwu assured.
Moreso, the Rivers State Governor, Chief Nyesom Wike has stated that the politicisation of security in the country was responsible for the insecurity across the country.
Speaking during a courtesy visit by the Charge D’Affairs, Embassy of Netherlands at the Government House, Port Harcourt, last Wednesday, Wike said when security issues involve opposition states, the authorities play politics.
The governor said: “The problem we have is the politicisation of security. As an opposition state, once we have security challenges, politics is introduced”.
He urged the Government of Netherlands to give Rivers State the support it needs to tackle insecurity in the state.
Wike blamed multinational companies for encouraging insecurity by patronizing cultists for surveillance jobs.
He particularly accused Shell of being part of the major culprits, saying Shell divides communities to make sure that the people do not work together with one voice.
“Shell is part of the major culprits. Shell divides communities to make sure that the people don’t work together. Shell doesn’t want to implement memorandum of understanding signed with communities.
“I sat in a meeting with Shell, Agip and Total. It was Shell only that refused to implement the Memorandum of Understanding. Despite the actions of Shell, we shall continue to protect national assets”, he said.
On the Ogoni clean-up, Wike said that the Federal Government has not shown seriousness and commitment to the project.
He said that they were only interested in the political gain of the project.
Wike said that he remains committed to all his campaign promises, saying that he would work towards fulfilling them during his second term.
He said: “Every promise made, we will try to actualize them. Youths will have 40 per cent in the new cabinet. This 40 per cent will cover men and women. There will be another 20 per cent for women. This means that women will have more than 20 per cent in the next cabinet”.
Wike called on the Netherlands Embassy to attract agricultural investors to the state for the purpose of job creation.
In her remarks, the Charge D’Affairs, Embassy of Netherlands, Mrs Marian Van De Cappello congratulated the Rivers State governor on his well-deserved victory during the Governorship Election.
She commended the Rivers State governor for initiating reconciliation between political gladiators in the state, adding that with reconciliation, the state would experience peace and development.
Cappello praised Wike for pledging to increase women and youth participation in his next cabinet.
The diplomat said she was also in the state to participate in the clean-up of Ogoniland.
Similarly, in line with its commitment to improving security across the state, Rivers State Government would henceforth sanction any company that awards surveillance jobs to cultists.
The Rivers State Governor, Chief Nyesom Wike made this known during a courtesy visit by the Ambassador of France to Nigeria, Mr Jerome Pasquier at the Government House, Port Harcourt, last Wednesday.
Wike said that before such surveillance jobs are awarded, the companies should inform the state government for proper scrutiny of the beneficiaries.
“Companies encourage cultists by giving them surveillance jobs. We must know those doing these surveillance jobs.
“When you empower them, they have more money to acquire arms. Any company that gives surveillance jobs to cultists will be sanctioned”.
He appealed to the French Ambassador to prevail on the authorities not to politicise the security of the country.
Wike called on the French Embassy to take steps to ensure that Air France returns to Port Harcourt, emphasising that the state government was prepared to support the airline through relevant policies.
He urged the management of Air France to reconsider their action and return to Port Harcourt.
The governor said that his administration would continue to work towards enhancing a fruitful relationship with the French Government.
Ambassador of France to Nigeria, Mr Jerome Pasquier noted that there is a major French Presence in Rivers State through the operations of Total and other professionals.
He said that the embassy would continue to work towards greater French presence in the state.
Pasquier added that the Embassy was working hard to persuade more French investors to come to Nigeria, especially Rivers State.

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INEC To Unveil New Party Registration Portal As Applications Hit 129

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The Independent National Electoral Commission (INEC) has announced that it has now received a total of 129 applications from associations seeking registration as political parties.

The update was provided during the commission’s regular weekly meeting held in Abuja, yesterday.

According to a statement signed by the National Commissioner and Chairman of the Information and Voter Education Committee, Sam Olumekun, seven new applications were submitted within the past week, adding to the previous number.

“At its regular weekly meeting held today, Thursday 10th July 2025, the commission received a further update on additional requests from associations seeking registration as political parties.

“Since last week, seven more applications have been received, bringing the total number so far to 129. All the requests are being processed,” the commission stated.

The commission revealed the introduction of a new digital platform for political party registration. The platform is part of the Party Financial Reporting and Auditing System and aims to streamline the registration process.

Olumekun disclosed that final testing of the portal would be completed within the next week.

“INEC also plans to release comprehensive guidelines to help associations file their applications using the new system.

“Unlike the manual method used in previous registration, the Commission is introducing a political party registration portal, which is a module in our Party Financial Reporting and Auditing System.

“This will make the process faster and seamless. In the next week, the commission will conclude the final testing of the portal before deployment.

“Thereafter, the next step for associations that meet the requirements to proceed to the application stage will be announced. The commission will also issue guidelines to facilitate the filing of applications using the PFRAS,” the statement added.

In the meantime, the list of new associations that have submitted applications has been made available to the public on INEC’s website and other official platforms.

 

 

 

 

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Tinubu Signs Four Tax Reform Bills Into Law …Says Nigeria Open For Business 

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President Bola Tinubu yesterday signed into law four tax reform bills aimed at transforming Nigeria’s fiscal and revenue framework.

The four bills include: the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.

They were passed by the National Assembly after months of consultations with various interest groups and stakeholders.

The ceremony took place at the Presidential Villa, yesterday.

The ceremony was witnessed by the leadership of the National Assembly and some legislators, governors, ministers, and aides of the President.

The presidency had earlier stated that the laws would transform tax administration in the country, increase revenue generation, improve the business environment, and give a boost to domestic and foreign investments.

“When the new tax laws become operational, they are expected to significantly transform tax administration in the country, leading to increased revenue generation, improved business environment, and a boost in domestic and foreign investments,” Special Adviser to the President on Media, Bayo Onanuga said on Wednesday.

Before the signing of the four bills, President Tinubu had earlier yesterday, said the tax reform bills will reset Nigeria’s economic trajectory and simplify its complex fiscal landscape.

Announcing the development via his official X handle, yesterday, the President declared, “In a few hours, I will sign four landmark tax reform bills into law, ushering in a bold new era of economic governance in our country.”

Tinubu made a call to investors and citizens alike, saying, “Let the world know that Nigeria is open for business, and this time, everyone has a fair shot.”

He described the bills as not just technical adjustments but a direct intervention to ease burdens on struggling Nigerians.

“These reforms go beyond streamlining tax codes. They deliver the first major, pro-people tax cuts in a generation, targeted relief for low-income earners, small businesses, and families working hard to make ends meet,” Tinubu wrote.

According to the President, “They will unify our fragmented tax system, eliminate wasteful duplications, cut red tape, restore investor confidence, and entrench transparency and coordination at every level.”

He added that the long-standing burden of Nigeria’s tax structure had unfairly weighed down the vulnerable while enabling inefficiency.

The tax reforms, first introduced in October 2024, were part of Tinubu’s post-subsidy-removal recovery plan, aimed at expanding revenue without stifling productivity.

However, the bills faced turbulence at the National Assembly and amongst some state governors who rejected its passing in 2024.

At the NASS, the bills sparked heated debate, particularly around the revenue-sharing structure, which governors from the North opposed.

They warned that a shift toward derivation-based allocations, especially with VAT, could tilt fiscal balance in favour of southern states with stronger consumption bases.

After prolonged dialogue, the VAT rate remained at 7.5 per cent, and a new exemption was introduced to shield minimum wage earners from personal income tax.

By May 2025, the National Assembly passed the harmonised versions with broad support, driven in part by pressure from economic stakeholders and international observers who welcomed the clarity and efficiency the reforms promised.

In his tweet, Tinubu stressed that this is just the beginning of Nigeria’s tax evolution.

“We are laying the foundation for a tax regime that is fair, transparent, and fit for a modern, ambitious Nigeria.

“A tax regime that rewards enterprise, protects the vulnerable, and mobilises revenue without punishing productivity,” he stated.

He further acknowledged the contributions of the Presidential Fiscal Policy and Tax Reform Committee, the National Assembly, and Nigeria’s subnational governments.

The President added, “We are not just signing tax bills but rewriting the social contract.

“We are not there yet, but we are firmly on the road.”

 

 

 

 

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Senate Issues 10-Day Ultimatum As NNPCL Dodges ?210trn Audit Hearing 

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The Senate has issued a 10-day ultimatum to the Nigerian National Petroleum Company Limited (NNPCL) over its failure to appear before the Senate Committee on Public Accounts probing alleged financial discrepancies amounting to over ?210 trillion in its audited reports from 2017 to 2023.

Despite being summoned, no officials or external auditors from NNPCL showed up yesterday.

However, representatives from the representatives of the Economic and Financial Crimes Commission, Independent Corrupt Practices and Other Related Offences Commission and Department of State Services were present.

Angered by the NNPCL’s absence, the committee, yesterday, issued a 10-day ultimatum, demanding the company’s top executives to appear before the panel by July 10 or face constitutional sanctions.

A letter from NNPCL’s Chief Financial Officer, Dapo Segun, dated June 25, was read at the session.

It cited an ongoing management retreat and requested a two-month extension to prepare necessary documents and responses.

The letter partly read, “Having carefully reviewed your request, we hereby request your kind consideration to reschedule the engagement for a period of two months from now to enable us to collate the requested information and documentation.

“Furthermore, members of the Board and the senior management team of NNPC Limited are currently out of the office for a retreat, which makes it difficult to attend the rescheduled session on Thursday, 26th June, 2025.

“While appreciating the opportunity provided and the importance of this engagement, we reassure you of our commitment to the success of this exercise. Please accept the assurances of our highest regards.”

But lawmakers rejected the request.

The Committee Chairman, Senator Aliyu Wadada, said NNPCL was not expected to submit documents, but rather provide verbal responses to 11 key questions previously sent.

“For an institution like NNPCL to ask for two months to respond to questions from its own audited records is unacceptable,” Wadada stated.

“If they fail to show up by July 10, we will invoke our constitutional powers. The Nigerian people deserve answers,” he warned.

Other lawmakers echoed similar frustrations.

Senator Abdul Ningi (Bauchi Central) insisted that NNPCL’s Group CEO, Bayo Ojulari, must personally lead the delegation at the next hearing.

The Tide reports that Ojulari took over from Mele Kyari on April 2, 2025.

Senator Onyekachi Nwebonyi (Ebonyi North) said the two-month request suggested the company had no answers, but the committee would still grant a fair hearing by reconvening on July 10.

Senator Victor Umeh (Anambra Central) warned the NNPCL against undermining the Senate, saying, “If they fail to appear again, Nigerians will know the Senate is not a toothless bulldog.”

Last week, the Senate panel grilled Segun and other top executives over what they described as “mind-boggling” irregularities in NNPCL’s financial statements.

The Senate flagged ?103 trillion in accrued expenses, including ?600 billion in retention fees, legal, and auditing costs—without supporting documentation.

Also questioned was another ?103 trillion listed under receivables. Just before the hearing, NNPCL submitted a revised report contradicting the previously published figures, raising more concerns.

The committee has demanded detailed answers to 11 specific queries and warned that failure to comply could trigger legislative consequences.

 

 

 

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