News

Court, AMCON Synergise To Recover N5trn Debt

Published

5 years ago

November 9, 2020

With the Asset Management Corporation of Nigeria (AMCON) in its twilight, the President, Court of Appeal, Hon Justice Monica Dongban-Mensem and the Administrator of the National Judicial Institute (NJI), Hon Justice R.P.I. Bosimo, (rtd) at the weekend, drummed support for the corporation to meet its target of recovering N5trillion debt.
Currently, AMCON owes more than N4trillion to the Central Bank of Nigeria (CBN), which it says could rise to almost N7trillion by 2024 judging by the current rate of inflation.
To forestall that, AMCON is in dire need of support from all sister agencies of the Federal Government to recover outstanding loans from those it called economic saboteurs who are hell-bent in crippling the banking.
To this end, the two institutions called on the Nigerian Judiciary in general to speed up momentum in dispensing cases involving AMCON and its recalcitrant obligors that come before their honourable courts.
The duo, however, maintained that that justice must be dispensed within the ambit of the law.
Similarly, the Managing Director/Chief Executive Officer, AMCON, Mr Ahmed Kuru, also reiterated the fact that AMCON, which presently has pilled-up legal issues in different courts with its obligors said non-collection of the debts, which is in the excess of N5trillion would have negative effect on the national resources.
Kuru was, however, appreciative of the Nigerian Judiciary for sustaining the AMCON Task Force in the four divisions of the Court of Appeal to ensure a fast track of AMCON appeals.
The AMCON CEO said no one can over flog the important role the Judiciary plays in National Development meaning that the Judiciary remains vital to the success of AMCON.
The justices and the AMCON CEO were speaking at the just concluded 2-day Annual Seminar for Honourable Justices of the Courts of Appeal, which started on Friday in Abuja.
The event, which ended late on Saturday was jointly organised by the National Judicial Institute (NJI) and Legal Academy (LA) with the full complement of AMCON management in attendance.
While welcoming participants to the seminar, Justice Bozimo who threw more light in the expectations of the Judiciary, which she argued will enable AMCON is to succeed said, “The role of the Judiciary in the execution of AMCON mandate cannot be over-emphasised. This is understandable considering that the distinguished bench is indispensable to the realisation of the enormous powers conferred on the corporation by the AMCON Act.
According to her, viewing the peculiarities, uniqueness and the unconventional nature of the AMCON regime, it is evident that AMCON is bound to confront challenges and difficulties in its daily efforts to realise its mandate.
Justice Bozimo added that it was in order to assuage these challenges that the National Judicial Institute ensures that the Judiciary, especially the Hounourable Judges are sensitised and provided with updates that have to do with the AMCON regime at all times.
In her own address, Justice Dongban-Mensem while welcoming participants to the seminar also recalled that the 2007-2009 global financial crisis had severe impact on the economies of many countries, including developing economies like Nigeria’s, which was why AMCON was set up.
She said that the corporation having made sure that the financial system in Nigeria did not collapse, now was the time for all sister agencies of government to ensure AMCON recovers its outstanding huge debt from its recalcitrant obligors who incidentally are exploring judicial technicalities to hold on.

News

Be Patient With Us, Diri Tells Bayelsans … Inspects New 60mw IPP …Expresses Confidence In Technical Partners, BECL MD

Published

2 days ago

January 2, 2026

The Tide

Bayelsa State Governor, Senator Douye Diri has sued for patience on the ongoing installation of the state’s new independent power project.

The Tide gathered that the 60-megawatt gas turbine project, which installation commenced in October this year, was earlier scheduled to be completed by December but suffered logistics related delays.

The governor called on people of the state to have an open mind about the project, which he said now requires a new completion date due to unforeseen challenges.

?The Tide further reports that the State’s Chief Executive who undertook an on-the-spot-assessment of the project at Elebele in Ogbia Local Government Area on Wednesday, said like other citizens of the state, he was also disappointed that the December completion deadline could not be met.

However, he stated that his reaction to the delay had been that of understanding rather than being angry as had been noticed, particularly on the social media.

?”You can see I’ve gone round the whole facility. It was based on the working agreement and information available at my disposal that I gave the December date. But as it is with every human endeavor, we must all have an open mind, when it comes to issues, particularly technical matters like this.

?”I am as disappointed as any other Bayelsan because I believed that we were going to celebrate the 2025 Christmas with our own independent power, but it turned out not to be so.

?”I call on Bayelsans to have an open mind. These technical experts are working virtually 24 hours, but delays like this will certainly come”, he said.

He implored the people 9f the state to appreciate the work of the engineers, stressing that a minor mistake was capable of jeopardising the millions of dollars expended on the project.

?”For 29 years Bayelsa has been in darkness or has endured epileptic power supply. Now that we are getting close to the day of liberation, some people have become impatient.

“Let us not behave like the proverbial tortoise in the prison for years that asked to be released immediately as the place was smelling the moment he knew it would regain freedom the next day”, the governor added.

?The Bayelss Governor gave a thumps up to the technical partners, Jampur Group, and its team on ground as well as the Managing Director of the Bayelsa Electricity Company Ltd, Engr. Olice Kemenanabo, saying they were working round the clock to ensure the job was completed.

?”Those who have been following me on this inspection would know that work has not stopped even for one day since it started. I am sure the job is more than 90 per cent complete. So let us hold our fire.

“Engineer Olice, I am not putting you under any pressure. From the reports I have, Olice is one of the best electrical engineers in Nigeria”, governor Diri said.

The governor, however, hinted that the government was looking at inaugurating the project during its sixth anniversary in February.

The MD of the Bayelsa Electricity Company Limited, Kemenanabo, who also spoke, said the state was on the right track towards actualising the project and assured that the alignment of the entire system, including the gas generator and alternator were on course.

He also stated that the remaining two turbines would be delivered to the project site in a few days.

?Speaking on behalf of the Jampur Group, Mr. Sherrif Abu-Anif said the company was in good position to meet its own end of the bargain and appreciated the state government for playing its part very well.

By Ariwera Ibibo-Howells, Yenagoa

News

Akpabio Withdraws All Defamation Suits After Priest’s Sermon

Published

2 days ago

January 2, 2026

The Tide

The Senate President, Senator Godswill Akpabio, has directed his lawyers to withdraw all ongoing defamation lawsuits against several individuals, saying he was moved by counsel during a New Year Mass.

Speaking at the Sacred Heart Parish in Uyo, yesterday, Akpabio said he had filed nearly nine lawsuits against individuals he accused of defaming him.

He said, “I had almost nine cases in court against some individuals who defamed me, who lied against me, who slandered my name.

“But I listened to the priest and suddenly realised he was talking to me, so I hereby direct my solicitor to withdraw all lawsuits against them.”

In 2025, Akpabio had filed several high-profile defamation lawsuits, including one against colleague Senator Natasha Akpoti?Uduaghan.

In late 2025, Akpabio filed a N200 billion defamation lawsuit against her over allegations of sexual harassment, which he denied and urged her to substantiate in court.

Earlier in the year, Akpabio’s wife also filed defamation suits against Akpoti?Uduaghan over claims she said had harmed her family’s reputation.

Relations between the two lawmakers soured after Akpoti?Uduaghan accused Akpabio of influencing her suspension from the Senate in March 2025, following her public allegations of misconduct.

The Senator had previously challenged actions taken against her in court, including a N100 billion defamation suit she filed against Akpabio and other defendants over alleged remarks that she said damaged her reputation.

With yesterday’s announcement, Akpabio has formally ended all pending legal disputes arising from defamation claims, signalling closure to the publicised litigations as the year begins.

News

‘Best Way To Show Gratitude Is To Deliver Tinubu in 2027’

Published

2 days ago

January 2, 2026

The Tide

Rivers State Governor, Sir Siminalayi Fubara, has declared that the best form of gratitude Rivers people owe President Bola Ahmed Tinubu for protecting the interest of the State is to galvanize massive support for the President in 2027.

Fubara disclosed this last Monday during the commissioning of Permanent Secretaries Quarters built by his administration at Elimgbu in Obio Akpor Local Government Area of the State.

He said that the State has what it takes to deliver the President during the 2027 general elections.

“We’ve taken a decision,our decision is for the good of Rivers State, our decision is to say thank you for the protection we have from Mr President, our decision is to prove that we have what it takes to deliver Mr President.”

Fubara expressed delight over the completion of the project, stating that the initiative was to provide accommodation, a basic need of life for public servants in the state to improve their productivity.

He explained that lack of effective social welfare was at the root of some incriminating actions that undermine the purpose of governance, noting that the commissioning of the newly built Permanent Secretaries Quarters marks a significant milestone in civil service welfare and institutional development.

“Insecurity begins when individuals are uncertain of what the next hour holds. This situation is especially challenging for family men and women, affecting confidence and decision-making,” he observed.

Fubara emphasized the need for proper maintenance of the facility and urged the beneficiaries to protect the project like a personal property, while directing the State Head of Service to appoint a facility manager to ensure long-term maintenance.

In her remarks, the Special Guest of Honour and Head of the Civil Service of the Federation, Mrs Didi Esther Walson-Jack, who unveiled the project, expressed appreciation to the governor and Rivers State for inviting her to commission the project.

She commended Fubara for prioritizing the welfare of Permanent Secretaries who are senior public servants and accounting officers, noting that the project reflects purposeful and visionary leadership, and urged other states to borrow a cue from the Rivers State Governor.

Walson-Jack described the initiative as a strategic investment in staff welfare and institutional continuity which she noted is in line with Renewed Hope Initiative on provision of mass housing and social stability.

“The commissioning of these houses reflect a deliberate commitment to the dignity, welfare, and productivity of senior public servants responsible for policy coordination and service delivery,” she said.

In his goodwill message, the National Secretary of the All Progressives Congress (APC), Senator Ajibode Bashiru, who led a high powered delegation on a visit to the governor, congratulated Rivers people for aligning with the Pan Nigerian political party, assuring that the interest of Rivers State will be duly protected in the APC.

He described President Bola Tinubu as a detribalised Nigerian who anchors his leadership on equity, fairness and justice, adding that the APC will provide a level playing ground for all.

The APC chief scribe also commended Fubara for providing good accommodation for public servants, stating that it will address issues of sabotage, compromise and disloyalty on the part of public servants.

Giving the project description, Permanent Secretary, Rivers State Ministry of Works, Dr. Austin Ezekiel-Hart, said the estate comprises 29 units, including nine standalone duplexes and 20 terrace buildings.

Facilities feature a water treatment plant, synchronized power generators, CCTV and alarm systems, a gym, recreational areas, and green spaces—designed to enhance comfort, performance, and productivity.

Earlier, the Head of the Rivers State Civil Service, Dr Mrs Inyingi Brown, had thanked the governor for his visionary initiative and unwavering commitment to the welfare of Rivers State Civil Servants, and restated the commitment of the State civil servants to the success of Fubara’s administration.

By: Taneh Beemene