Niger Delta

‘Why Delta Opted For N50bn Bond’

Published

14 years ago

May 8, 2011

Chief Afam Obiago, Economic Adviser to Governor Emmanuel Uduaghan of Delta says the state government opted for a N50-billion bond as part of measures to improve on the state’s economic potential.

Obiago who spoke in an interview with newsmen in Asaba said the bonds market offered the cheapest source of funds and a rescue package for governments to execute projects.

“First of all the bonds market gives you the cheapest kind of funds in terms of interest rate. Secondly the bond market gives you a long moratorium; that is the repayment period.

And then what that immediately means is that it frees you from the stranglehold of what otherwise commercial loans from the bank will put you through.’’

The adviser stressed that the best option for governments to source funds and execute projects with ease was through such bonds.

“Every government must look for funds to be able to create value and in the process of looking for funds you must look for the cheapest possible funds.

“And you cannot rely only on the funds that come to you either by revenue allocation from the federal government or internally-generated revenue. Those funds are actually supposed to be your collateral for more funds.”

“Delta state particularly has a lot of projects that could create value to governance and to its citizens. Therefore the bonds market gives us a leverage to be able to implement our programmes.

Obiago listed some of the programmes to be executed as the airport project, the Koko Free Trade Zone, the rehabilitation of schools and the upgrading and standardisation of other infrastructure.

Niger Delta

Edo CP Vows Justice For Slain NSCDC Operatives

Published

6 days ago

September 12, 2025

The Tide

The Commissioner of Police in Edo State, Mr. Monday Agbonika, has vowed to hunt down and bring to justice those behind the killing of eight NSCDC operatives in the State.

Agbonika gave the assurance on Tuesday during an on-the-spot assessment of the attack scene, which also involved the abduction of a Chinese national.

Describing the incident as “a dastardly act that will not go unpunished”, the Commissioner expressed condolences to the Edo State Command of the NSCDC.

He paid tribute to the fallen operatives, describing them as “gallant personnel who paid the ultimate price in the line of duty.”

“We stand in solidarity with the NSCDC in this grief. Their sacrifice will not be in vain, and Edo people should expect justice”, Agbonika said.

In a separate meeting with Chinese community members at BUA Cement, Okpella, the police chief assured that efforts were ongoing to rescue the abducted expatriate alive.

“Our men are on the ground, and operations have been intensified. We are determined to rescue the kidnapped victim and prevent further incidents in the area”, he said.

Agbonika appealed for calm among residents, urging cooperation through timely and credible intelligence to aid ongoing security operations.

“Security is a collective responsibility. We call on residents to support us with information. Together, we will defeat criminals threatening Edo’s peace”, he added.

He reaffirmed the command’s commitment to protecting lives and properties, stressing that it would not relent until the attackers were arrested and justice delivered.

The Tide’s source reports that the Okpella attack occurred on Friday.

Niger Delta

Police Nab Suspected Illicit Drugs Dealer In Delta

Published

6 days ago

September 12, 2025

The Tide

The Police Command in Delta State has arrested a suspected female illicit drugs dealer in Ughelli North Local Government Area of the state.

The command’s Spokesman, SP Bright Edafe, disclosed this in a statement made available to newsmen in Warri on Wednesday.

Edafe said the suspect was nabbed alongside her three apprentices on August 29 by the police operatives attached to the Ughelli Area Command.

He said the operatives carried out the raid following credible information on the activities of some individuals that indulged in the sale of illicit drugs within Afisere/Ughelli town.

“The operatives trailed and arrested a drug baron who operates a chemist store in Afisere Community alongside three of her apprentices.

“The suspect led the operatives to her house at Afisere and a search warrant was executed.

“Exhibits recovered from the suspects included: 355 bottles of CSC codeine, 57 rolls of 50MG tramadol capsules, 335 rolls of 100mg tramadol capsules.

“Others were: 33 rolls of 200mg super royal, seven backwoods, 540 sachets of swinol capsules and 16 cups of Canadian liquid cannabis”, he said.

The police spokesman said investigation further revealed that the suspect was a major dealer in illicit drugs in Ughelli and its environs.

Edafe added that investigation in the matter was ongoing.

Niger Delta

C’River Assembly extends Bekwarra LG Chairman’s Suspension By 3 Months

Published

6 days ago

September 12, 2025

The Tide

The Cross River State House of Assembly has extended the suspension of the Bekwarra Council Chairman, Ms. Theresa Ushie, to 90 days.

Speaker of the Assembly, Mr. Elvert Ayambem, made the remark on Wednesday during plenary.

The Tide’s source recalls that Ushie was suspended on June 10 for three months on allegations of corruption, misconduct and abuse of power.

The suspension followed a petition from the Bekwarra Local Government Legislative Council, signed by eight of its members, who also attempted to impeach her.

Ayambem explained that the extension was to allow the House Committee on Judiciary, Public Service Matters, Public Petitions and Conflict Resolution more time to investigate the petition written against the chairman by the Bekwarra Legislature.

The House had earlier deliberated on a motion calling for the extension of the office of the LGA Acting Chairman, Mr. Egbung Obama, before agreeing to extend Ushie’s suspension.

In his remarks, Chairman of the Investigative Committee and member, representing Abi State Constituency, Mr. Davies Etta, said the committee needed more time to carry out a thorough investigation.

Ushie was elected as Bekwarra Local Government Council Chairman and sworn-in in November 2024.