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Naval Officers Storm PHED, Kidnap 15 Staff, Loot Offices Over N762m Debt
Officers of the Nigerian Navy – NNS Victory, in Calabar, the Cross River State capital, have allegedly kidnapped over 15 staff of the Port Harcourt Electricity Distribution (PHED) Plc in their regional office in Calabar, the capital city of Cross River State.
The incident was said to have occurred in the afternoon of March 11, 2023, when 10 men identified to be Naval officials stormed the company’s premises, fully armed and whisked away staff who were on duty.
The Naval officials, it was gathered, carried out the illegal operations at the command of Commodore Vincent Gbaranwi of the NNS Victory Command and Chief of Staff to the Flag Officer in the Command, Rear Admiral Mike Oamen.
The invading officers were said to have stormed the business premises of the electricity distribution company and kidnapped the staff, in protest over the disconnection of Akim Navy Barracks and Atimbo Barracks.
The Naval Command is alleged to be owing the Port Harcourt Electricity Distribution (PHED) Plc over N740million in unpaid electricity bills accumulated over the years, and an additional current monthly electricity bill charge of N22million.
Although, the command is said to have countered the allegation of kidnapping, eye witnesses who saw the incident, noted that no warrant of arrest was presented before the action, and no charge has been brought against the over 15 staff of the company whom the officers claim they did not kidnap but arrested, yet they are still incommunicado as at the time of this report.
However, while the officers executed the alleged kidnap, customers present and other members of staff scampered for safety, abandoning their duty posts, work tools and millions of naira they had collected from responsible customers who came to pay their bills.
Unfortunately, a female staff of the company and a nursing mother, Mrs Abigail Omori, collapsed in the process, and was secretly rushed by the officers to the Reference Hospital, a Naval medical facility in Calabar for treatment.
As at the time of this report, the company has not been allowed access to Mrs Omori and nobody is able to tell her condition.
Following this incident, all PHED sub-stations in Cross River State have been shut down, and the state plunged into darkness, out of palpable fear of arrest or kidnap of its workers by officers of the Naval Command, who had announced that they had orders to shoot any PHED staff found around any electricity infrastructure supplying power to the Naval Command.
Meanwhile, the Regional Manager of PHED, Dr. Gabriel Modupe, confirmed the report and insisted that millions of naira collected by staff before the attack were currently missing.
He explained that efforts had been made to engage the command to pay their electricity bills without success.
The matter has been reported to the Nigerian Police and the Directorate of State Security (DSS), respectively, whose attempts to intervene have proved abortive.
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Rivers: Impeachment Moves Against Fubara, Deputy Hits Rock …As CJ Declines Setting Up Panel
The impeachment moves against Rivers State Governor, Sir Siminialayi Fubara, and his deputy, Prof. Ngozi Ordu, by the Rivers State House of Assembly has suffered a setback following the refusal by the State Chief Judge, Hon. Justice Simeon C. Amadi, to set up a seven-man investigate panel to probe the governor and his deputy.
Justice Amadi hinged his decision on subsisting interim court injunctions and pending appeals.
Recall that the Assembly members had earlier requested the Chief Judge to set up a seven-man investigative panel to probe allegations of gross misconduct against Fubara and his deputy.
In a letter dated January 20, 2026, and addressed to the Speaker of the Rivers State House of Assembly, Rt. Hon Martins Amaewhule, the Chief Judge acknowledged receipt of two separate letters from the Assembly, both dated January 16, 2026, requesting the constitution of an investigative panel pursuant to Section 188(5) of the 1999 Constitution of the Federal Republic of Nigeria (as amended).
However, the State Chief Judge explained that his hands were tied by ongoing judicial proceedings directly connected to the impeachment process.
He disclosed that his office had been served with interim injunctions issued on January 16, 2026, arising from two separate suits challenging the actions of the House of Assembly.
The suits include Suit No. OYHC/6/CS/2026, filed by the Deputy Governor against the Speaker and 32 others, and Suit No. OYHC/7/CS/2026, instituted by Governor Fubara against the Speaker and 32 others.
According to him, the interim injunctions expressly restrain him from “receiving, forwarding, considering and or howsoever acting on any request, resolution, articles of impeachment or other documents or communication from the 1st -27th and 31st Defendants for the purpose of constituting a panel to investigate the purported allegations of misconduct against the Claimant/Applicant for seven days.”
Justice Amadi stressed that obedience to court orders is non-negotiable in a constitutional democracy, regardless of personal opinions about such orders.
“Constitutionalism and the Rule of Law are the bedrock of democracy and all persons and authorities are expected to obey subsisting orders of court of competent jurisdiction, irrespective of perception of its regularity or otherwise,” he stated.
To further underscore his position, the Chief Judge cited judicial precedent, referring to the case of Hon. Dele Abiodun v. The Hon. Chief Judge of Kwara State & 3 Ors. (2007), in which the Chief Judge of Kwara State was faulted for proceeding to constitute a panel despite a subsisting court order restraining such action.
Quoting directly from the judgment, Justice Amadi recalled: “I liken the scenario created by the Chief Judge to the position of a chief priest and custodian of an oracle turning round to desecrate the oracle,” a passage he said highlights the sacred duty of judicial officers to uphold the law.
He added that the judiciary, as “the custodian and head of the judicial arm of the State, ought to abide by the laws of the State, nay the land…”
He further noted that the Rivers State House of Assembly had already filed appeals against the interim injunctions at the Court of Appeal, Port Harcourt Division, with notices of appeal served on January 19 and 20, 2026.
“In view of the foregoing, my hand is fettered, as there are subsisting interim orders of injunction and appeal against the said orders.
“I am therefore legally disabled at this point, from exercising my duties under Section 188(5) of the Constitution in the instant,” the Chief Judge declared.
He concluded by expressing hope that “the Rt. Hon. Speaker and the Honourable Members of the Rivers State House of Assembly will be magnanimous enough to appreciate the legal position of the matter.
President Bola Tinubu yesterday celebrated the Nigerian Exchange Group’s breakthrough into the N100tn market capitalisation threshold, saying Nigeria has moved from an ignored frontier market to a compelling investment destination.
Tinubu, in a statement signed by his Special Adviser on Information and Strategy, Bayo Onanuga, urged Nigerians to increase their investments in the domestic economy, expressing confidence that 2026 would deliver stronger returns as ongoing reforms take firmer root.
He noted that the NGX closed 2025 with a 51.19 per cent return, outperforming global indices such as the S&P 500 and FTSE 100, as well as several BRICS+ emerging markets, after recording 37.65 per cent in 2024.
“With the Nigerian Exchange crossing the historic N100tn market capitalisation mark, the country is witnessing the birth of a new economic reality and rejuvenation,” Tinubu said.
He attributed the stellar performance to Nigerian companies proving they can deliver strong investment returns across all sectors, from blue-chip industrials localising supply chains to banks demonstrating technological innovation.
The President added, “Year-to-date returns have significantly outpaced the S&P 500, the FTSE 100, and even many of our emerging-market peers in the BRICS+ group. Nigeria is no longer a frontier market to be ignored—it is now a compelling destination where value is being discovered.”
Tinubu disclosed that more indigenous energy firms, technology companies, telecoms operators and infrastructure firms are preparing to list on the exchange, a move he said would deepen market capitalisation and broaden economic participation.
He also cited what he described as a sustained decline in inflation over eight months—from 34.8 per cent in December 2024 to 14.45 per cent in November 2025—projecting that the rate would fall below 10 per cent before the end of 2026.
“Indeed, inflation is likely to fall below 10 per cent before the end of this year, leading to improved living standards and accelerated GDP growth. The year 2026 promises to be an epochal year for delivering prosperity to all Nigerians,” he said.
The President attributed the trend to monetary tightening, elimination of Ways and Means financing, and agricultural investments, which he said helped stabilise the naira and ease post-reform pressures.
Nigeria’s current account surplus reached $16bn in 2024, with the Central Bank projecting $18.81bn in 2026, reflecting a trade pattern shift toward exporting more and importing less locally-producible goods.
Non-oil exports jumped 48 per cent to N9.2tn by the third quarter of 2025, with African exports nearly doubling to N4.9tn. Manufacturing exports grew 67 per cent year-on-year in the second quarter.
Foreign reserves have crossed $45bn and are expected to breach $50 billion in the first quarter, giving the CBN ammunition to maintain currency stability and end the volatility that previously fuelled speculation, according to the President.
Tinubu also highlighted infrastructure expansion in rail networks, arterial roads, port revitalisation, and the Lagos-Calabar and Sokoto-Badagry superhighways, alongside improvements in healthcare facilities that are reducing medical tourism costs, and increased university research grants funded through the Nigeria Education Loan Fund.
“Our medicare facilities are improving, and medical tourism costs are declining. Our students benefit from the Nigeria Education Loan Fund, and universities are receiving increased research grants,” he said.
He described nation-building as a process requiring hard work, sacrifices, and citizen focus, pledging to continue working to build an egalitarian, transparent, and high-growth economy catalysed by historic tax and fiscal reforms that came into full implementation from January 1.
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RSG Kicks Off Armed Forces Remembrance Day ‘Morrow …Restates Commitment Towards Veterans’ Welfare
The Rivers State Government has reiterated its commitment towards the welfare of veterans, serving officers and widows of fallen officers in the State.
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?The Secretary to the Rivers State Government, Dr. Benibo Anabraba, in a statement by ?Head, Information and Public Relations Unit, SSG’s ?Office, ?Juliana Masi, stated this during the Central Planning meeting of the 2026 Armed Forces Remembrance Day in Port Harcourt, yesterday.
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?Anabraba thanked the Committee for their contributions to the success of the Emblem Appeal Fund Ceremony recently held in the State and called on them to double their efforts so that the State can record resounding success in the remaining activities.
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?According to him, the remembrance day events will begin with Jumaàt Prayers on Friday, 9th January at the Rivers State Central Mosque, Port Harcourt Township, while a Humanitarian Outreach/Family and Community Day will be hosted on Saturday, 10th January, by the wife of the governor, Lady Valerie Siminalayi Fubara, for widows and veterans.
?”On Sunday, 11th January, an Interdenominational Church Thanksgiving Service will hold at St. Cyprian Anglican Church, Port Harcourt Township while the Grand-finale Wreath- Laying Ceremony will hold on Thursday, 15th January at the Isaac Boro Park Cenotaph, Port Harcourt”, he said.
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?The SSG noted that one of the highlights of the events is the laying of wreaths by Governor Siminalayi Fubara and Heads of the Security Agencies.
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