News
Sale Of Assets: Amaechi, Ukpo, Cole, Six Ex-Commissioners For Prosecution
The former Governor of Rivers State, Chibuike Rotimi Amaechi, Chairman of Sahara Energy Resources, Tonye Cole, ex-military administrator, Brigadier Anthony Ukpo (rtd) and six former commissioners for Health, Power, Transport, Commerce, Finance and Agriculture, are to face prosecution for the sales and buying of state-owned assets, a White Paper on the Justice George Omeregi Commission report has recommended.
The White Paper on the panel report released over the weekend by the State Executive Council after a meeting on Thursday, directed the Attorney-General and Commissioner for Justice, Emmanuel Aguma, a Senior Advocate of Nigeria (SAN) to immediately commence judicial process of recovering the assets.
Briefing newsmen on the details of the report, Commissioner for Housing, Barrister Emma Okah, stated that the sales of the 70 per cent equity share of the four gas power turbines at Omoku, Eleme, Trans-Amadi and Afam, totalling 621 megawatts at the cost of $800,000 per unit to Sahara NG HPS Limited was unjustifiable and against the interest of the state.
It also said the transaction was not transparent as NG Power HPS Ltd was yet to pay an outstanding balance of $28.4 million, after it acquired the power plants below market price of $432 million, even though actual balance was $146.5 million.
On the sale of Olympia Hotel, the report also picked holes in the concessioning agreement leasing the property for 40 years to one Centro Sarotem Hotel Limited for a fee of $1miilion equivalent to about N55.7million. While the actual sum of $2.4 million was to be paid, the cumulative concession value of the property and land was put at $3.450 million.
In the words of Okah, “the commission called for the review of the concession agreement covering the value of land, deduction of concession and for non-employment of Rivers State indigenes”.
Okah revealed that the commission further uncovered an illegal account opened by the Ministry of Commerce where about $155.7 million from the hotel concession was lodged.
“The account was opened by the ministry without the requisite authorization of the Accountant–General of the State,”Okah stated.
On the Monorail Project, the white paper indicted former military administrator of old Rivers State, Brigadier Anthony Ukpo, whose company, TSI Ltd had entered into a partnership agreement with Rivers State Government on the project.
While the state government was to contribute 20 per cent and TSI 80 per cent, yet the private partner never contributed as the state invested over N35 billion, which N11 billion was paid to Rivers State Monorail Company Limited managed by TSI Ltd.
The white paper called for the recovery of the fund from the company, Amaechi and former Transport Commissioner, George Tolofari, who were the masterminds of the failed project, as it frowned at the huge sum paid to Argus Gibbs a consultancy firm on the project at the tune of N696million since it contravened Section 52 of the State Procurement Law No4 of 2008.
The White Paper also directed the Attorney–General and Commissioner for Justice to commence legal proceedings to recover funds meant for the planned Adolphus Karibi Whyte Mega Hospital which never saw the light of the day.
The hospital initially conceived under private partnership deal shared funding between the state and one Clinotech Ltd 40 to 60 per cent.
While the state government contributed its own funding of $39 million, Clinotech failed in its obligation.
As if that was not enough, the report revealed that the state government went further to release a new Clinotech Turnkey project to the tune of N150 million as mobilization fee.
“The commission found that Clinotech Turnkey Management Ltd got N200 million paid in excess with nothing to show”, the report further revealed.
The report picked holes in the disbursement of the N2billion agric loan. The panel found that in June 2014 the past administration had accessed the loan from the Central Bank with plans to disburse to qualified agric cooperatives societies, but rather than do so, it gave the loans to politicians and cronies.
“About 282 cooperatives societies were hurriedly registered in 2014, while 38 were never registered at all,” according to the report.
The commission also found that the various local government chairmen were made managers of the fund, and therefore, called on former Governor Amaechi, the Agric Commissioner and those who disbursed the fund against the loan guidelines to be prosecuted and made to refund the monies.
On the State Reserve Fund, the panel found that over N38billion was saved in the account set up in 2008.
The fund grew to about N55billion in 2014 through investments. But in March 2014, the Rivers State House of Assembly passed a bill to remove the emergency clause to withdraw monies from the fund.
The amendment gave room for the withdrawal of N53billion between February 2014 to March 2015.
According to the panel, “the attempt by Governor Amaechi to withdraw the last N1.2 billion was prevented by some government institutions.”
The White Paper recommended that the ex-governor and principal officers of the House be prosecuted, while the former Secretary to the State Government be made to refund sum of N400million withdrawn in March and another N170 million withdrawn on 25th March.
The report also directed the owner of Orosi House to be made to account for about N300million for the lease of the property in 2012, even after the building had been gutted by fire some years before.
News
Independence Anniversary: Nigeria Is A Failed Grandfather – Monarch
A first class traditional ruler in Rivers State, His Royal Majesty, King Aaron Ikuru, has described Nigeria at 65 as a grandfather who cannot provide leadership to other African Countries.
The monarch stated this in an interview at his palace in Ikuru Town, yesterday.
According to him, Nigeria would have been a developed country to set the pace in the whole of Africa, considering its numerous resources.
“Nigeria is a grandfather but not behaving as a grandfather. Our country, Nigeria, before and from the era of Independence was in the state of becoming a great country, but unfortunately is not becoming anything.
“We should be far ahead with what we have in the country. God blessed us, we have almost what it takes in terms of mineral resources, manpower amongst others that can drive speedy development in the country.
“If we’re able to harness all the things we have, even America by now would have respected us”, he said.
While blaming the past leaders of the country, the monarch called on the current leadership of the country to redouble efforts in order to narrow the differences in terms of development, exchange rate between naira and foreign currencies.
King Ikuru, who is also the Chairman of Andoni Area Traditional Rulers Council, however, lauded the efforts of the founding fathers, past leaders of the country for the achievements so far.
He also expressed optimism that Nigeria would be great, calling on the opinion leaders to shun tribalism and political intolerance in the country.
“If Nigeria should experience rapid development in all sectors, it means we must shun tribalism and political intolerance, the interest of our country must be our priority.
“We need to fight corruption vigorously, and leaders must show good example of discipline and integrity”, he said.
The monarch used the opportunity to wish Nigeria happy independence anniversary.
By: Enoch Epelle
News
FG begins payment of N32,000 pension increment to retirees – PTAD
The Pension Transitional Arrangement Directorate has announced the start of implementation of the new pension increments for pensioners under the Defined Benefit Scheme, saying the adjustments will be reflected in the September 2025 payroll cycle.
In a statement signed by Management and posted on its X handle, PTAD said the increase package includes a fixed N32,000 payment alongside percentage increases of 10.66% and 12.95% for eligible categories, which will benefit about 832,000 pensioners under its management.
Recall that PTAD in August announced President Bola Tinubu approved a series of measures, including new welfare benefits for pensioners under DBS.
The approval follows a formal request by PTAD’s Executive Secretary, Tolulope Odunaiya, seeking an emergency budgetary allocation to implement pension reforms and welfare benefits for the scheme’s retirees.
The measures include a N32,000 pension increment, percentage increases for pensioners of defunct and privatised agencies, pension harmonisation for all DBS pensioners, enrolment into the National Health Insurance Scheme, and the settlement of long-standing unfunded pension liabilities.
In a statement yesterday, PTAD said the partial release of N820.188 billion by the Federal Ministry of Finance from the emergency funding has made it possible for pensioners to begin receiving the enhanced payments immediately.
The statement read, “Further to the President’s approval of the emergency budgetary allocation for the payment of the new pension increment rates for Pensioners under the Defined Benefit Pension Scheme (DBS) that was earlier published by the Pension Transitional Arrangement Directorate on Friday, 8th August, 2025, the Directorate is delighted to announce the commencement of the implementation of the 832,000, 10.66% and 12.95% pension increment for eligible pensioners under the management of PTAD, in the September 2025 pension payroll cycle.
“This achievement has been made possible through the partial release of 820.188 billion by the Federal Ministry of Finance, from the initial 845 billion emergency funding approval granted by the Federal Government.
“This milestone clearly reaffirms the Federal Government’s dedication to safeguarding the welfare and entitlements of DBS Pensioners in line with the Renewed Hope Agenda.”
The directorate thanked President Bola Ahmed Tinubu for approving the emergency allocation.
It also acknowledged the role of the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun; the Minister of State for Finance, Dr Doris Uzoka-Anite; the Accountant-General of the Federation and key presidential aides and parliamentary committees for their “timely interventions” and support.
The statement also expressed appreciation to organised pension groups, including the Nigeria Union of Pensioners and the Federal Parastatals and Private Sector Pensioners Association of Nigeria, for their cooperation during negotiations and implementation planning.
“We further assure all our DBS Pensioners and Stakeholders that the Directorate will continue to collaborate with the relevant authorities towards release of the outstanding approved funds and subsequent fulfilment of all future obligations relating to the pension increments and the landmark reforms,” the statement added.
The DBS covers pensioners who retired before the introduction of the Contributory Pension Scheme in 2004, including those from defunct public institutions, privatised agencies, and treasury-funded parastatals.
Over the years, many have faced irregular payments, delayed harmonisation, and inadequate healthcare access, challenges that the new reforms are expected to address.
News
Nigeria At 65: NOA urges citizens to foster unity, progress
The National Orientation Agency (NOA) has urged Nigeria. citizens to remain united, peaceful to enhance development of the nation as it celebrates 65th independence anniversary.
Mr Mkpoutom Mkpoutom, Director of NOA in Akwa Ibom, gave the charge in Uyo yesterday while addressing newsmen and stakeholders to mark the anniversary.
Mkpoutom said it was essential to recognise that the strength of Nigeria lay in its diversity
“With over 250 ethnic groups and an array of languages, the nation embodies a unique blend of heritage.
“This diversity should be seen not as a dividing line but as a unifying force that propels the country toward progress.
“As Akwa Ibom embarks on another year, it is crucial for all citizens to foster a sense of unity and shared purpose.
“Embrace dialogue, understanding and collaborate with the Renewed Hope Agenda of President Bola Tinubu in its efforts to addressing pressing challenges like poverty, security, education, and healthcare, thereby paving way for a brighter future for all.”
The state director, however, appealed to Nigerians from all walks of life to renew their commitment to a more prosperous, peaceful, and equitable nation.
“Let this anniversary serve as a reminder of the collective strength that lies in every citizen,” he said.
He urged everyone to contribute positively to the development of a better society.
Mkpoutom urged the people and all citizens to honour the labours of heroes past, as they celebrated the present, while working diligently toward a future filled with hope and opportunities for generations to come.
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