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RSG To Prosecute Ex-Commissioners Over N35bn Fraud …Begins Interest Free Loan To Traders/ Entrepreneurs …As Ortom, Wike Chart Path To Good Governance

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The Rivers State Government says it would prosecute the former Commissioner for Health, Dr. Sampson Parker, and former Commissioner for Finance, Chamberlain Peterside over alleged fraud in the construction and funding of the state-owned Integrated Medical Industries Limited (Syringe Factory) valued over N35billion.
Also to be prosecuted is the Project Manager of the company, Mayer Wokoma.
In a media briefing after the State Executive Council meeting, yesterday, the Attorney-General of the state, Zachous Adango disclosed that the three persons, allegedly involved in squandering of the assets of the company, would face prosecution.
Recall that the Attorney-General was appointed by the Executive Council to head a committee to study the White Paper submitted to it by the Judicial Commission of Inquiry set up to investigate the state of things at the Integrated Medical Industries Limited (Syringe Company) where assets amounting to N35billion was allegedly squandered under the former administration in the state.
According to the Attorney-General, the council, after deliberating on the submission of the White Paper Committee, directed him to commence processes of prosecution of the three persons and any other person involved in the huge fraud.
The council also noted with satisfaction that the first batch of civil servants and traders to benefit from the interest-free loan scheme given by the state government has been affected.
The Special Adviser to the Governor on Political Matters, Emeh Glory Emeh, told newsmen after the meeting that 12 local government areas where involved in the first batch while the second batch would involve beneficiaries from the remaining 11 local government areas.
Emeh stated that the governor graciously approved the interest-free loan of N200 million per month to enable the traders and civil servants improve on their businesses.
He urged those yet to get the loan in the first batch not to despair as they would be involved in the subsequent batches.
Earlier, the state Commissioner for Information and Communications, Barrister Emma Okah said that yesterday’s State Executive Council meeting touched on several issues that have to do with the development of the state, and arrived at the resolutions, adding that the interest-free loan to traders and civil servants as well as the huge fraud at the state-owned Integrated Medical Industries Limited were top on the agenda.
Meanwhile, in line with the pledge of Governor Chief Nyesom Wike, the Rivers State Government has commenced the disbursement of interest free loans to traders and entrepreneurs.
The State Government also announced that it will prosecute those indicted by the Judicial Commission of Inquiry that investigated the management of funds of the Integrated Medical Industries (IMI) Limited.
The resolutions of the Rivers State Government were made public by the State Commissioner of Information and Communications, Emma Okah, the State Attorney General, Dr Zaccheus Adango and Special Adviser to the Rivers State Governor on Politics and Strategy, Chief Emeh Glory Emeh on Thursday after the State Executive Council meeting at the Government House Port Harcourt.
Okah said that the State Government has also disbursed interest free loans to civil servants under the first phase of the programme.
He said that empowerment programme will run on a monthly basis for civil servants in the state.
Also speaking, Special Adviser to the Rivers State Governor on Politics and Strategy, Chief Emeh Glory Emeh said that the interest free loans for entrepreneurs and traders have been disbursed for 12 Local Government Areas.
He said that under the second phase of the exercise, 11 Local Government Areas will benefit from the scheme.
Emeh said that 600 traders and entrepreneurs have benefited from the empowerment scheme, while N200million shall be disbursed monthly.
He added the list of all beneficiaries will be published for Rivers people to know the beneficiaries.
On IMI Limited, Attorney-General of Rivers State, Dr Zaccheus Adango said that N34.5b invested by the Rivers State Government in the company was squandered.
He noted that those indicted by the Justice Constance Green Judicial Commission of Inquiry on the embezzlement of the IMI funds will face the full weight of the law.
He said: “The Honourable Attorney General has been mandated to pursue the criminal prosecution of Mr M. Nwokoma, who was the Project Manager of IMI, Dr Chamberlain Peterside and Dr Samson Parker.
“Once the White Paper is published, the Honourable Attorney General will commence the prosecution “.
Also, Benue State Governor, Samuel Ortom today met with his Rivers State counterpart, Governor Nyesom Wike at Government House, Port Harcourt.
It was a one-day visit by Governor Ortom to Rivers State.
The two Governors deliberated on various ways of collaboration for good governance.
Areas which were on the front burner for discussion included the current security challenge in Benue State, rural development, agriculture and power supply.
It was the first formal meeting between the two Governors since they emerged victorious at the 2019 election.

 

Chris Oluoh

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Tinubu Hails NGX N100trn Milestones, Urges Nigerians To Invest Locally

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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

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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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Fubara Redeploys Green As Commissioner For Justice

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The Governor of Rivers State, Sir Siminalayi Fubara, has approved a minor cabinet reshuffle in the State Executive Council.

Under the new disposition, Barrister Christopher Green, who until now served as Commissioner for Sports, has been redeployed to the Ministry of Justice as the Honourable Attorney General and Commissioner for Justice.

This is contained in an official statement signed by Dr. Honour Sirawoo, Permanent Secretary, Ministry of Information and Communications.

According to the statement, Barrister Green will also continue to coordinate the activities of the Ministry of Sports pending the appointment of a substantive Commissioner to oversee the ministry.

The redeployment, which takes immediate effect, was approved at the last State Executive Council meeting for the year 2025, underscoring the Governor’s commitment to strengthening governance, ensuring continuity in service delivery, and optimising the performance of key ministries within the state.

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