News
Akingbola To Forfeit N626bn, 8 Houses, Others – EFCC
The Mareva order granted against the wanted former Group Managing Director of Intercontinental Bank Plc, Mr. Erastus Akingbola, would see him forfeiting, temporarily, to the Federal Government, about N626 billion, eight houses, nine companies and 12 bank accounts.
This is even as the Economic and Financial Crimes Commission (EFCC) again sealed off his property at 2, Bedwell Road Ikoyi, Lagos on Wednesday.
Commission’s spokesperson, Mr. Femi Babafemi, confirmed the sealing off of the property.
The Mareva order issued by a London court and a federal high court sitting in Lagos covered all his properties worldwide.
All the items listed by the commission were covered by the order.
His property at 12, Ruxcon Road, Ikoyi, Lagos was sealed off on Tuesday which signaled the commencement of the execution of the Mareva order.
In the Mareva sum contained in the order, N346 billion was listed in local currency while 1,085,575 British pounds was also listed as alleged proceeds of crime.
The order restrained Akingbola and members of his family from coming in contact with the said property until it is lifted.
In the schedule 11 of the order, assets listed included, property at Milverton Road, Ikoyi, 26, Chester Terrace London, 8 Connaugh Street, London, 65 Gove-End Road, London, Amazing Grace Plaza, Ligali Ayorinde Street, Victoria Island among others.
Companies listed in the order included Tropics Securities, Tropics Property, Tropics Holdings, Summit Finance Company, Tropics Finance and Investment Company, Yankuri Nigeria Ltd, Regal Investment, Bankinson Nigerian Ltd and Associated Discount House Ltd among others.
Some of the bank accounts included accounts with numbers 0001200000029420, 0001210000005334, 0111-001-000352735 and 0111-001000- 352745 domiciled with Intercontinental Bank.
Fifteen cars and five dogs were found on the property sealed off on Tuesday.
In the property listed in his name in the court order, he is said to own 10 properties in Ikoyi ansd Victoria Island, Lagos alone.
The commission’s guards now watch over the seized property.
It was also gathered that the commission’s chairman, Mrs Farida Waziri had written to all banks where Akingbola has accounts for the transfer of same to the government.
Other banks where he has accounts included Access Bank, Zenith Bank, Skye Bank, Fidelity Bank and Intercontinental U.K.
Security agencies abroad where Akingbola has properties and bank accounts, had also been contacted for the same measure of treatment for the former banker.
While the Lagos order was granted on the last day of 2009, the London court had granted its, on 23rd December, 2009.
Some of the assets to also be frozen were Nos 17, 18, 19, 20 on Finchey Road, London as well as the property located at 26, Chesire Terrace, London.
Properties said to have been owned by him in Accra, Ghana and Dubai, United Arab Emirates, were also listed for forfeiture.
The Group Managing Director/Chief Executive Officer, Oceanic Bank, Mr. John Aboh, has said the bank concluded staff rationalisation exercise December last year, stressing that it has no plan to sack any of his workers in the new year.
Speaking against the backdrop of insinuations that the bank had carried out fresh disengagement of staff, Aboh explained that it was unfounded and a premeditated attempt by people to derail the consistent progress being recorded by the bank.
According to him, last year rationalisation was to drive operational efficiency in the organisation, noting that it had become imperative to alert customers and shareholders on true situation.
“I urge our esteemed customers, shareholders, and the entire banking public to disregard such reports. Oceanic Bank is making steady progress with its recovery efforts and the trends before us show promising prospects and enhanced value creation for all stakeholders.”
The Oceanic Bank boss explained that prior to the bank’s staff rationalisation exercise, the bank was expending over N4 billion monthly on salaries and wages to a workforce of over 20,000 people.
“We had to implement the painful process of staff rationlisation to streamline the workforce along the line of the current business realities otherwise we will be deploying depositors’ funds to sustain the bloated workforce. The vision we have is to grow the business to ensure consistent value creation for our customers and shareholders.”
News
Fubara Reaffirms Commitment To Peace, Unity And Development As Rivers State Marks 59TH Anniversary
Governor of Rivers State, His Excellency, Sir Siminalayi Fubara, has reaffirmed the unwavering commitment of his administration to peace, unity, security, and inclusive development as Rivers State marks its 59th anniversary.
In a goodwill message issued on Wednesday to commemorate the anniversary, Governor Fubara stated that despite the challenges faced over the years, the people of Rivers State have continued to demonstrate resilience, strength, and an enduring spirit of unity that has sustained the state since its creation.
The Governor noted that the strong bond of brotherhood among the various ethnic nationalities of the state, including the Ijaw, Ikwerre, Ogoni, Etche, Ekpeye, Andoni, Kalabari, and others, remains one of Rivers State’s greatest strengths and a critical foundation for peace, stability, and progress.
He further observed that Rivers State has remained a major driver of Nigeria’s economy for decades, not only because of its abundant oil and gas resources, but also because of the exceptional contributions of its people across diverse sectors including academia, jurisprudence, business, entertainment, public service, and sports.
Governor Fubara assured the people that his administration will continue to prioritize policies and programmes that promote peace, protect lives and property, and expand development across all parts of the state. He emphasized that governance must be people centered and impactful, with equal attention given to every Local Government Area of the state.
The Governor also paid tribute to the elders and founding leaders of the state for preserving the spirit of unity and coexistence over the years, while urging the youths to remain hopeful, responsible, and actively committed to building a greater Rivers State through innovation, hard work, and patriotism.
He equally acknowledged the invaluable role of women in strengthening families, communities, and society, describing them as indispensable partners in the continued growth and stability of the state.
Governor Fubara called on all Rivers people to use the occasion of the anniversary as a moment of reflection and renewed commitment to peaceful coexistence, mutual respect, dialogue, and collective progress, stressing that the unity and future of Rivers State must always rise above personal interests and political differences.
Rivers State was created on May 27, 1967, when the administration of General Yakubu Gowon (Rtd.) created twelve states out of the former four regions of Nigeria, with Rivers State carved out of the defunct Eastern Region.
News
APC Presidential Primary: Fubara Commends Process, As Tinubu Sweeps Poll In Rivers
Rivers State Governor, Sir Siminalayi Fubara, has commended the leadership of the All Progressives Congress (APC) in Rivers State over the outcome of last Saturday’s presidential primary election that saw President Bola Ahmed Tinubu sweeping the poll with a total of 280,082 votes.
Fubara, who served as the State Collation Officer for the primary election, said that while the APC had a total of 297,068 registered members, the number of those accredited for the election was 280,082.
According to him, all those accredited for the election, cast their ballot for Tinubu, leaving Stanley Osifo, his only opponent, with no votes.
Fubara expressed delight at the peaceful and seamless process which he said was as a result of good planning by the party.
“I feel that this process has recorded one of the most organised outings of our great party in recent times. The only reason it came out this way has to do with good planning. In all, I want to say that I’m really impressed with the process.
“So, I can say here that having taken time to go through the figures diligently, I, Siminalayi Fubara, who is standing as the State Collation Officer, hereby certify that the information contained in my own spreadsheet represents the true, correct and accurate record of the summary of results from the 23 LGAs of Rivers State,” he said.
The governor said that while it was evident that President Tinubu defeated his opponent in the primary election in the State, the report would be sent to the APC headquarters in Abuja where the results will be formally declared.
News
Ogoni cleanup: Minister Calls For more support from private sector
The Federal Government has called for increased private sector participation and donor funding to sustain ongoing gains in the Ogoni environmental restoration project under the Hydrocarbon Pollution Remediation Project.
Speaking at a conference on donor facilitation and diplomatic support for HYPREP in Abuja, yesterday, the Minister of Environment, Balarabe Lawal, stressed that the Ogoni cleanup programme was designed as a long-term intervention requiring sustained funding, technical support, and international cooperation.
“The project is supposed to be a lifespan project. We must move towards achieving its main aim, which is environmental restoration and sustainable development,” he added.
Lawal acknowledged the contributions of the United Nations Environment Programme, describing its assessment as the scientific foundation of the ongoing remediation efforts in Ogoni land.
“We are all here because of that UNEP report. It provided the scientific foundation for what has become one of the world’s most ambitious environmental remediation programmes,” he said.
According to him, hundreds of hectares of hydrocarbon-polluted land have been remediated, while additional sites are currently undergoing cleanup operations.
“We have remediated hundreds of hectares of polluted land, and more sites are still being worked on. Water schemes have also been delivered to affected communities,” he stated.
He added that ecosystem restoration, livelihood support programmes, and healthcare projects were ongoing across affected communities.
“Body health facilities are being constructed, livelihood programmes are empowering thousands, and we are also restoring access to safe drinking water because the first victim of pollution is water,” he said.
The minister also disclosed that the Centre of Excellence for Environmental Restoration was nearing completion, describing it as a major milestone in the project.
“If you go there, you will see one of the biggest edifices being constructed under HYPREP. It will serve as a postgraduate and research institute for environmental remediation,” Lawal said.
Despite the progress, he warned that funding challenges remain a major threat to sustaining the project.
“While substantial progress has been made, the journey is not yet complete. The implementation of UNEP recommendations requires long-term commitment and sustained financial and technical support,” he said.
Lawal therefore, appealed to development partners, donor agencies, international financial institutions, foundations, and private sector players to scale up their support.
“We need your support—financial, technical, scientific, and strategic. No organisation or government can do it alone,” he said.
He further described the Ogoni cleanup as a global model for environmental recovery, climate resilience, and international cooperation.
“The restoration of Ogoni land is not merely a Nigerian undertaking; it is a global model. Its success will show what is possible when governments, communities, and partners work together,” he added.
Also speaking, the Chairman of the Board of Trustees of the Ogoni Trust Fund, Emmanuel Deeyah, said the conference was organised to attract financial, technical, and institutional support for the cleanup exercise.
“We are looking for resources, financial support, expertise, partnership, and collaboration. Government cannot do everything alone,” he said.
Deeyah said the agitation for environmental justice in Ogoni dated back to 1991 when residents drew global attention to the environmental degradation caused by oil exploration activities.
“We farm in Ogoni land and we also fish, but our waters were polluted and the land could no longer support farming activities,” he said.
He explained that the UNEP report recommended that oil companies should contribute $1bn every five years for 30 years to support the remediation programme.
“We have done 10 years now and we have not even received the full $1bn that was supposed to be contributed. The refineries and local operators have not contributed a dime,” he stated.
Last week, the Hydrocarbon Pollution Remediation Project announced the closure of 30 contaminated sites in Ogoniland, Rivers State, while investigations have commenced on 18 high-risk polluted locations in residential communities.
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