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UK Freezes Erastus Akinghola’s Assets Globally
A United Kingdom Court in London has ordered a temporary forfeiture of all assets, both identified and unidentified, belonging to the wanted former group managing director and chief executive officer of Intercontinental Bank Plc, Mr. Erastus Akingbola.
The order, known, as Mareva order, covers all assets traceable to him globally, including his investments, cash in bank accounts and property, among others.
It was granted on December 23, 2009.
The order is used to preserve assets in a situation where there are fears that the other party in a case may waste or dissipate the assets in contention.
It was gathered that the temporary forfeiture order was jointly sought by the Economic and Financial Crimes Commission (EFCC) and the new management of Intercontinental Bank, following a tip-off that he was in the process of moving £3.3 million about N858 million from Isle of Man, an Island in the Caribbean to London.
His total investment in the Island is said to be about N12 billion.
The Island is known in the banking world as the safe haven for bankers to hide slush funds.
Before the move by the commission, Akingbola was alleged to have moved a huge sum of money from his investment in the Island to purchase some property in London.
In the Mareva order, which is now in the possession of the anti-corruption agency, property allegedly bought by Akingbola during the initial cash movement reportedly included houses on numbers 17, 18, 19, 20 on Finchey Road, London, as well as the property located at 26, Chesire Terrace, London.
EFCC, which is set for the implementation of the order, was said to have moved in particular for the all-covering order to stop Akingbola from dissipating the assets, which the commission claimed were proceeds of crime.
The commission was said to have convinced the court to grant the global order after it was able to provide evidence that he had initially moved monies from the Island to buy property in London.
In the charge filed against him in a Federal High Court in Lagos by the commission, which is being used to push for his extradition, the property traced to him were described as proceeds of the alleged crime he committed with shareholders’ funds, while at the bank.
Commission’s spokesperson, Mr. Femi Baba-Femi could not be reached on his mobile phone for comments on the development.
Four top management staff of the bank arrested over another alleged N12 billion fraud involving Akingbola are still being detained on court order by the commission.
The affected top officers included Akin Fabunmi, Financial Controller; Toyin Odesilo, Head, Domestic Operations and Toyin Oyelade, Treasurer.
It was gathered that they allegedly removed N12 billion from the bank’s General Legal Account in November and gave some to Akingbola.
According to information from the commission, the affected bank top shots had in November moved N2 billion to a subsidiary of the bank {names withheld}, from where it was moved to a bureau de change where it was converted to Pounds Sterling and wired to Akingbola’s domiciliary account with the bank before it was finally wired to another account of his in the United Kingdom.
He was said to have successfully withdrawn the money before the commission was called into the alleged scam.
In the same month, another N10 billion was reportedly moved by the same people into the accounts of some companies owned by Akingbola domiciled with Access Bank Plc, before it was finally paid to Access Bank to defray the N10 billion debts Akingbola and his companies owed the bank.
Five non-executive directors of the bank were recently fingered in another alleged fresh N50 billion scam.
The money, which was said to have been shared among the five directors, was believed to be part of the missing N1 trillion in the sector.
It was gathered that while N1.2 billion was shared by the five former directors in March, 2008 as bonus, another N1.8 billion was shared among them in the same month.
The commission’s sustained investigation into the books of the troubled bank was said to have uncovered another fresh N31 billion allegedly laundered by Akingbola while at the helms of affairs in the bank.
In May 2009, the probe report stated that Akingbola allegedly used his own registered company, Tropics Properties Ltd, to launder over N13 billion investors’ funds.
The first payment made into Tropics account was N4.5 billion, the second being N4.4 billion, while the third was N4.06 billion.
News
Tinubu Urges Youths To Leverage NASRDA Skills Acquisition Project For Employment
President Bola Tinubu has called on Nigerian youths to leverage the skills acquisition programme of the National Space Research and Development Agency (NASRDA) for gainful employment.
Tinubu made the call on Wednesday in Abuja during the opening ceremony of NASRDA skills acquisition project being executed in collaboration with Grassroots Bridge Builders (GBB), a Non-Governmental Organisation (NGO).
Represented by Mr Adewale Adeogun, Chairman, Tinubu National Think Tank (TnT), he said the project was part of the many initiatives of the government under its Renewed Hope Agenda.
The Tide source reports that the project targets to train 60,000 youths with relevant life changing skills.
“Most of our people are not aware of some of the policies that the President have brought forward because they were not informed, misinformed.
“The NASRDA/GBB project is here to educate, train and allow NGOs, corporate bodies, religious bodies, some support group leaders on these activities and we have millions of people unaware.
“We want Nigerians embrace this programme, come up with ideas of how we can get millions, at least 50 million Nigerians out of this unemployment circle,’’ Tinubu said.
He said the Federal Government was in discussions with companies, government institutions to employ the youths who had benefited from the project.
“These youths, when trained through our platform, we will introduce them to ministries, agencies, parastatals and industries for employment.’’
Director-General of NASRDA, Dr Matthew Adepoju, said that Nigerian youths were intelligent, hardworking and creative, adding that the government was committed to giving them skills for development.
“We can use the space science and technology to empower the youth to function in their own ecosystem,’’ he said.
He recalled the agency already started a pilot skills acquisition programme on mast installation, maintenance and management of telecom infrastructure, with over 60 youths in participation.
According to him, the training is expected to touch on different sectors, states and local government levels because that is where the bulk of our youths reside.
Dr Haruna Mohammed, Technical Adviser to the D-G, said they were at the level of profiling the participants.
‘’The first was the pilot project, which we had over 60 participants, and we are scaling it up now, and we are profiling them, gathering data, trying to know how to spread it across the country.
“For this next stage, we are proposing 5000 youths and we recently had a request from some ministries to train about 60,000 youths,’’ he said.
Mohammed said that the youths would be trained on 27 different skills such as artistry, carpentry and painting.
Mr Ibrahim Igoche, Chief Executive Officer, GBB, encouraged other NGO, partners to join the government in building the skills of Nigerian youths to reduce poverty.
News
Okpebholo Approves New Minimum Wage Of N75,000 For Edo Workers

Gov. Monday Okpebholo of Edo has raised the minimum wage for Edo workers from N70,000 to N75,000 to further improve their standard of living.
The governor announced this during his May Day speech at the Samuel Ogbemudia Stadium in Benin.
The governor, while appreciating Edo workers’ contributions to the state’s development, said his administration would always look for ways to improve the welfare of Edo workers.
“Today, I am proud to announce that our administration has approved a new minimum wage of N75,000 per month for all Edo workers.
“It’s our way of saying thank you, Edo workers. We believe this makes a real difference, and we count on your dedication to a better Edo.
“Since taking office, my administration has prioritised workers’ welfare.
” One early action was converting over 1,000 casual workers, including cleaners, into permanent civil service employees,” he said.
Okpebholo disclosed that his administration had also hired 500 teachers, adding that he was reviewing over 3,000 casual teachers for full employment.
“We also approved recruitment of 450 clinical and non-clinical hospital staff and regularised 126 contract workers at Edo State Specialist Hospital for stability and growth,” he added.
The governor also disclosed that his administration had cleared outstanding salary arrears owed to Edo Polytechnic staff.
“In the judiciary, judges whose appointments were delayed have been properly sworn in and are now actively performing their constitutional duties without further administrative hindrances.
“To prove our commitment, we approved health insurance for retirees because we believe support must continue after workers leave active service,” the governor said.
Okpebholo reiterated his administration’s dedication to prompt salary and pension payments, structured recruitment, workers’ welfare and professional development
“As we celebrate today, I join President Tinubu and fellow governors in wishing Nigerian workers a peaceful, fulfilling celebration. Your efforts build our nation daily.”
Acting NLC Chairman, Edo chapter, Comrade Bernard Egwekhide, praised Governor Okpebholo for laudable policies that ease the hardship experienced by workers and pensioners across the state.
He said the theme, “Reclaiming the Civil Space Amid Economic Hardship,” was appropriate and highlighted the critical issues faced by Nigerian workers in today’s tough economy.
Egwekhide appreciated the governor’s seriousness towards workers’ welfare, noting that recent interventions had significantly improved the lives and civil rights of Edo workers.
“Within six months in office, you have performed excellently for Edo workers. Your achievements surpass our expectations and show real commitment to the needs of workers
“We also thank President Bola Tinubu for supporting Edo State. The first flyover is under construction, and a second has already been approved for development.
“Additionally, federal roads across the state are now receiving the urgent attention they have long needed, thanks to the partnership with the Federal Government,” Egwekhide said.
News
Rivers Gears Up For First Round Of Polio Immunization Campaign
Rivers State is set for the first round of the Oral Polio Vaccine Immunization Campaign from the 3rd through to the 6th of May, 2025.
This was disclosed by the state Director, Community Health Services, Dr. Joy Tonye Wihioka, during a sensitization meeting with the Social and Behavioral-Change Communication Committee (SBCC) and stakeholders for the round one of the National Immunization Pulse Days (NIPDs) in Port Harcourt.
According to Dr. Wihioka, this campaign is targeted at the hard to reach areas and will focus on children within the age range of zero to five years.
The Immunization exercise according to her, will basically go from house to house, community to community and school to school campaign.
She said the meeting is primarily a Clarion call to all relevant stakeholders to create awareness on the improvement of the programme in the state.
Dr. Wihioka explained that the Rivers State government is striving towards sufficient coverage in the vaccination exercise, noting that the state has recorded over 90% coverage of the vaccination exercise, save for the hard to reach areas, hence this exercise is deliberately targeted at these areas, as all necessary logistics have been put in place to ensure the successful implementation of the immunization campaign.
She said that one great achievement of the state is the near eradication of measles and whooping cough, even as the the state is not resting on its oars in carrying consistent surveillance for other vaccine preventable diseases.
She explained that it is the testament of the vaccination successes that most of these diseases have been eradicated in our dear state, that over the years it has been proven that vaccines are safe in managing preventable diseases.
On her part, the State Health Educator, Rivers State Primary Health Care Management Board (RSPHCMB), Dr Babbo Diana, said one day had been designated to school children for the first round of the Oral Polio Vaccine Immunization Campaign, explaining that children between the ages of zero to five years, would be targeted in churches, mosques, market places and schools for them to be vaccinated.
He added that this year’s exercise would address the high number of unresolved non compliance cases.
Earlier, a representative of the World Health Organization (WHO), Ajawa Chibuzor, had pledged the support of the WHO in curtailing the issue of vaccine preventable diseases in the state.
Chibuzor who is an Assistant Health Public Officer said the Organisation is fully committed to ensuring that Rivers State is free from all vaccine preventable diseases.
Also speaking, the representative of the United Nation International children Educational fund (UNICEF), Sandra James, said that UNICEF would encourage the Rivers State Health Care Management Board (RSPHCMB) to have a healthy State free of Polio.
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