Featured

Ibori Loot: Who Should Benefit?

Published

5 years ago

March 17, 2021

There have been mixed reactions as the British government resolved last week to return to Nigeria the sum of $4.2 million (N2.2 billion) funds allegedly recovered from the account of friends and families of former Delta State Governor, Chief James Ibori. The issue being debated around the towns and cities of the country is whether the recovered fund should be used by the Federal Government to facilitate projects or given to Delta State Government, since it was originally allocated to the oil-rich state.
A similar incident is that of late military ruler, General Sanni Abacha’s Swiss refund of $320 million.
There is this argument that since the recovered fund was from the governor of a particular state, then the alleged looted fund belonged to the state since he was the custodian of the state.But another group said that since the fund was released from the Federal Government, then the alleged crime was committed against the Federal Government, moreover the federal is instrumental to the recovery of the looted funds from the UK Government, the Federal Government should benefit.
It is surprising to hear how funds are being carted away from public purse perhaps not directly from those who are in charge of the funds but by their cronies through dubious means. Yet when an ordinary person goes for transactions which involve little funds in the banks, he will be mandated to present regulatory identity cards. Why do the financial institutions note query the source of huge sums deposited in their custody?
Even in the foreign banks where those money are deposited, they don’t scrutinise the account holders bearing in mind that such funds cannot belong to an individual. These are heavy financial crimes involving millions, billions and even trillions that should be used to improve citizens’ lives and then only a few will be in possession depriving others from partaking of it.
Whether the Federal Government or Delta State benefits from the refund, when utilised maximally, must be for the good of all Nigerians.These are not the only cases of looted funds to be recovered, but there are so many that are not announced publicly. Citizens should always speak out on issues like these that bother on people’s welfare.
It is unfortunate that funds that should be used in developing projects that have direct bearing on the masses as well as job creation will be diverted by individuals through any means. The most disturbing aspect of it is that it is the commonwealth of all Nigerians.
Senior Special Assistant (SSA) to the President on Public Affairs, Ajuri Ngelale, had in an interview with journalists, confirmed that the fund would be used to facilitate the 2nd Niger Bridge, Lagos-Ibadan Expressway and the Kano projects.
He said it was a federal crime that has to do with federal law since the money was taken outside the country and advised that people should not be sentimental about it.
A motivational speaker, Pastor Ikenna Ogbuehi, said it is a crime committed against the Federal Government and should be remitted to the federal purse.
Uchenna Chidiadi, a pharmacist, said it will be inappropriate to use the money which was appropriated to a state for the generality of Nigerians. While referring to former Military Head of State, late Abacha’s recovered loot, he said that was a federal fund.
He said that can be shared the normal way federal government allocation is done and advised that the Ibori fund should be returned to Delta State since it would have been raised from internally generated revenue (IGR) or the state’s allocation.
According to a legal practitioner, Efe Odide,the crime committed is a federal crime because the money was taken out of the country and that is why the money was remitted to the federal authority, although it was taken from a state.
A health safety officer, Uduak Udom, said persons who commit such crimes should be arrested and punished, regardless of political affiliation and sentiments, to deter those currently serving from looting public fund. He advised the current Delta State Government to seek some percentage of the fund from the Federal Government.
A social analyst, Mike Obi, said persons who commit such crimes should be set free because they are the products of the society.He referred to the Biblical quotation of training up of a child in the way he should go and claimed that if the child were to be comfortable from the beginning, he would not steal.
An evangelist, Peter Paul, said it is an oppression for federal government to use Delta State money to develop other parts of the country. He insisted that there may be more loot recoveries after this and advised the Federal Government to tackle this particular issue well so that reasonable impact can be made. According to him, citizens are more divided now than before to the extent that when national issues come up, people handle them from the political, ethnic and religious angles.
In the views of Ndiwem Onyedi, a businessman, people must realise that elected office or appointment should be seen as opportunity to serve and not to enrich themselves.He pointed out that nowadays, students abandon schooling for elective positions and added that even those who specialise in various professions have abandoned such for politics.
Onyedi said, as a younger person, he only saw retired public servants contesting even as councillors.
A teacher, Nathan Edu, said since the former Delta State Governor, James Ibori, had served prison term in the United Kingdom, he does not deserve any other punishment.
A businessman, James Okoro, emphasised that nobody was above the law and so should be punished if found wanting. He regretted that when a common man commits any crime the punishment comes swiftly.
Njideka Nathaniel asked: “How can a person who is above 60 years be stealing government money? You don’t sit down and ask yourself, how many years remaining for me to eat up this money? They loot the money and keep it for their children”.
A car dealer, Elijah Ejike, said that those who involve in that kind of fraud should be served capital punishment because, according to him, they are the reason why so many people are impoverished and dying of starvation.
In the words of a financial expert, Nonso Nnamani, looted funds should be returned to the rightful owners. As he put it, this is the fund that was originally allocated to Delta State by a bill passed by the National Assembly in the budget that is a law. The money should be returned to the state.
He made reference to a report that the money would be used to fund three federal projects – Niger Bridge, Lagos-Ibadan Expressway and Kano projects and advised that Delta State should not be denied the money.
According to him, “Why are you sending the money to other zones. A precedence has been set. When Bayelsa lost their money, it was returned to them. When Plateau lost theirs, it was returned to them. Why is this an exception?”
An enterpreneur, Patricia Bassey, said the money should be returned to the state from where it was stolen. Before now according to her, the Federal Government must have got other funds to facilitate those projects. She wondered what would have happened if the Ibori loot wasn’t recovered. Wouldn’t they have carried out projects?
Her words: “Anyone found looting public fund should be prosecuted. It will serve as a deterrent to others, they will get to know that if you steal from your country even after serving a jail term outside your country, when you get back home, you will be punished. Some persons are thinking that they can engage in crime and get away with it, it is unacceptable. Let the law take its course while the offender faces the jail term.”
Perhaps why this is creating so much argument is that it is crossing borders, it is an international issue which concerns the federal government.
For those who are defrauding business partners, siphoning public funds, pensioners’ funds, among others, it is the commonwealth of the nation that is being stolen.
People should be law-abiding in their dealings as regards business and as public officers. A situation where funds meant for public use will be diverted to private purposes should be discouraged.
Interestingly, the money is going to benefit people who live in the region, especially Niger Bridge and its environs. Sometimes looters would always apologise and return part or the entire loot while in office. As a matter of fact, perpetrators of such acts should be punished because when these funds are removed, the citizens are deprived of the benefits. These funds are so huge that they can be used to provide social amenities.

Featured

Oil & Gas: Rivers Remains The Best Investment Destination – Fubara

Published

3 days ago

December 1, 2025

The Tide

Governor Siminalayi Fubara says Rivers State remains the best investment destination for investors in the oil and gas sector.

Governor Fubara stated that since the economic development of Rivers State is closely connected to the growth of the oil and gas industry, his administration has continued to collaborate with the Federal Government and host communities to protect natural assets in the sector.

The Governor stated this during the Nigeria and Entrepreneurship Summit and Honours (NESH) Foundation Oil and Gas Roundtable in Port Harcourt.

Represented by the Secretary to the State Government, Dr. Benibo Anabraba, he pointed out that since the economy of Nigeria relies substantially on the oil and gas sector, his administration will continue to collaborate with relevant stakeholders to ramp up production.

“The Nigerian oil and gas sector is the lifeblood of our nation’s economy, contributing over 90% of Federal Government’s foreign exchange earnings. Similarly, Rivers State, home to numerous national and multinational oil and gas companies, is the centre of Nigeria’s hydrocarbon industry, with the State’s oil and gas resources generating over 40% of the country’s revenue.

“?Considering this, the survival and economic development of Rivers State are closely connected to the growth of the oil and gas industry. That is why, since the beginning of this administration, we have focused on safeguarding the national oil and gas assets in collaboration with the Federal Government, security agencies, communities and other stakeholders, and we will maintain this commitment for as long as it is necessary.

“Furthermore, we have established and maintained a conducive, peaceful, and secure environment for companies to open and flourish in the State as part of a strategic plan to stimulate our economy, generate jobs, and enhance the well-being of our citizens.

“We therefore recognise and applaud the vital role that indigenous companies are currently playing in bridging gaps and advancing the development of Nigeria’s oil and gas industry,” he stressed.?

Governor Fubara affirmed that Nigerian-funded companies can only succeed and make meaningful contributions to the nation’s economic prosperity when challenges that limit the nation are effectively tackled, and expressed his administration’s stand to support indigenous organisations such as the Nigeria and Entrepreneurship Summit and Honours (NESH) Foundation.

Declaring the roundtable open, the Governor assured the Nigerian-Owned companies in the oil and gas sector, that “we are ready and willing to respond positively to any administrative, policy, or legislative recommendations within our jurisdiction as a subnational State.”

The Founder of the Nigeria and Entrepreneurship Summit and Honours (NESH) Foundation, Mr Emeka ugwu-Ozu, disclosed that the summit, held only in an oil and gas producing place, is a forum for all in the industry to brainstorm and suggest best practices for local players.

“This roundtable discussion takes place in only oil and gas producing states, and it is intentional. And that is to make sure that sooner, it becomes like what we say is the equivalent of Houston in the United States of America.

“I would say that from what I have seen so far, Rivers State is back and open, safe and good for business. The oil and gas players should come and see what we have seen,” he said.

Featured

Lady Fubara Lauds Rivers Women On Peace, Development

Published

3 days ago

December 1, 2025

The Tide

Wife of the Rivers State Governor, Lady Valerie Fubara, has lauded the commitment, solidarity and pivotal role of women in promoting peace and enterprise development in Rivers State.

Lady Fubara spoke at the second edition of ‘Women Converge,’ a special programme organized by Rivers Women Unite for Sim, an NGO, at the main bowl of the Alfred Diete-Spiff Sports Complex in Port Harcourt, last Thursday.

She said women in the state had tremendously impacted the state positively through their prayers, careers, contributions to the home fronts, and expressed appreciation to Rivers women, for their unwavering support to her husband, Sir Siminalayi Fubara, the Governor of Rivers State, while urging them to continue to pray for the state.

“Once again, let me use this occasion to thank Rivers women for their support both in prayers and solidarity with me and my family. You have been wonderful. I can’t reward all that you do, but God in heaven who sees in secret will surely reward you openly.

“Truly today, marks another milestone in our effort to shape the society for good and lending our support for the sustenance of peace and development of Rivers State in particular and Nigeria at large. Without doubt, the prayers of our women avails much in every situation.

“Let me enjoin our women to remain prayerful because God is ever ready to answer our prayers. In all that we do, we must not forget the hand of God and often seek Him for direction and help. You have always been steadfast and I urge you not to relent, and together we will move our society forward. Whatever you do, putting your trust in God will certainly succeed”.

The Rivers State first Lady described the theme of the event, “Women in An Evolving World” as apt and, deeply reflective of the very essence of actions and strategies that women adopt to navigate the new world order.

She noted that despite the complexities of managing the home front and the constraints of economic realities, women had demonstrated formidable strength and resilience to confront the odds of life.

“This Converge underscores the resilience of our women to succeed no matter the odds, especially with absolute faith in God and determination for greater accomplishments.”

“Whether in the industry, business, agriculture, public service or even in politics, they have always shown strong determination to adapt and to accomplish like others.

“Our natural state notwithstanding our focus has always been to reach for the sky like every other person and as Rivers women we have always been pacesetters.

The Keynote Speaker, Pastor Eno Jerry Eze, described women as the foundation of every society, noting that the development of every society depends on the strength of womanhood.

In their good will messages, notable Rivers women who attended the event expressed optimism over the prospects of sustainable peace and development in Rivers State, and reiterated their support for the administration of Governor Siminalayi Fubara.

Some dignitaries that attended the event include former Commissioner for Environment in Rivers State, Prof Roseline Konya; foremost activist, Ann Kio Briggs; wife of the former Deputy Governor of Rivers State, Dr Mrs Christie Toby; President of the Port Harcourt Chambers of Commerce Industry, Mines and Agriculture, PHACCIMA, Dr Chinyere Nwoga; Pastor Ene Secondus, among others.

Highlights of the event were ministrations, cutting of cake and special prayers for Rivers State.

Featured

Fubara Frowns At Slow Pace Of Ndele–Omofo–Egmini–Agba-Ndele Road Project ….Says Contract May Be Reviewed

Published

3 weeks ago

November 14, 2025

The Tide

Rivers State Governor, Sir Siminalayi Fubara, has expressed dissatisfaction over the slow progress of work on the 14.5-kilometer Ndele/Omofo/Egamini/Agba-Ndele Road project located off the East–West Road in Emohua Local Government Area.

Addressing newsmen during an inspection tour of the project on Tuesday, the Governor noted that the pace and quality of work being delivered by the contracting firm, Messrs Stream Co. & Equipment Limited, fell below acceptable standards.

He was accompanied on the tour by the Permanent Secretary, Ministry of Works, Dr. Austin Ezekiel-Hart, who briefed the Governor on the status of the project and adjoining infrastructure.

Governor Fubara, who appeared visibly unsatisfied with what he saw on the stretch of the road, said his administration would not condone mediocrity or allow public funds to be wasted on underperforming projects. He, therefore, hinted that a review of the contract may be imminent to ensure the delivery of quality infrastructure to the people.

“I can say here already that the contractor handling the road from the bridge to the East–West Road is not doing a good job. I’m not happy about it. When I get back, there will be a need to review that contract because I’m not impressed. They don’t have the capacity, and we need capacity because we must have value for whatever money we’re spending,” the Governor said.

The Governor, however, commended Setraco Nigeria Limited for the standard and pace of work on the 240-meter Agba-Ndele/Abua Bridge, which forms a major component of the project. He explained that the bridge, which his administration inherited, would significantly improve connectivity among communities in the area once completed.

Governor Fubara stated that the bridge will serve as a key link between communities in Abua/Odual, Ahoada-East, and Emohua Local Government Areas, reducing travel time and providing an alternative route to the East–West Road.

He emphasised that the project demonstrates his administration’s commitment to rural connectivity and inter-community access, which are central to his development vision for Rivers State.

“Where we are standing on is a bridge connecting Abua/Odual, Ahoada-East, and Emohua Local Government Areas. The community that is connected to this bridge is Agba-Ndele.

“Instead of running through the East–West Road to Ahoada-East and heading into Port Harcourt or out of it, this bridge provides easy access for the Abua/Odual people to cross into Emohua, Agba-Ndele, and access the East–West Road in minutes,” he explained.

Governor Fubara also expressed optimism that the bridge would be ready for use in early 2026, noting that Setraco’s expertise and performance met his administration’s expectations for quality and delivery timelines.

He highlighted that projects of such importance should be handled by firms with the capacity to meet government standards.

The Governor further remarked that once completed, the bridge would serve as a crucial economic corridor for farmers and traders, especially those involved in agriculture and cultivation of local produce across the beneficiary local government areas.

He maintained that his administration is determined to deliver people-oriented projects that promote connectivity, strengthen commerce, and enhance livelihoods across the State.

“I’m really impressed with what I’ve seen on the bridge. I’m very sure that before the end of January, it might be completely ready for us to walk through and even drive across,” Governor Fubara said.

Reaffirming his vision for Rivers people, the Governor noted that his development plan seeks to integrate all parts of the State through strategic infrastructure investments that promote mobility, social cohesion, and economic growth.

He explained that his government is executing projects across multiple local government areas to ensure balanced development and inclusivity.

Governor Fubara stated that the administration will soon address the deplorable state of the Abua/Ahoada Road, which he said, will be included in the 2026 state budget.

“Our vision is to connect the entire Rivers State together, especially communities that have challenges of access. The bridge here connects Abua/Odual and Ahoada-East to Emohua and Port Harcourt. It will ease movement, promote trade, and boost our economy because agriculture is strong on this side. Moving goods to the city won’t be a problem anymore,” he said.

Governor Fubara reiterated his administration’s commitment to delivering quality infrastructure that provides value for public funds and meets the aspirations of Rivers people.