Politics › Tinubu’s Cabals Are The Most Dangerous In Nigeria’s History – Former Minister by Man102(op): 8:14am On Jan 08, 2025 |
Former Minister of Youth and Sports, Solomon Dalung, has described the power brokers in President Bola Tinubu’s administration as more dangerous and sophisticated than those in the government of former President Muhammadu Buhari.
Speaking on Channels Television’s Politics Today program, Dalung claimed that the cabals in Buhari’s administration lacked education and experience in governance, rendering them less effective in manipulating the government.
“Buhari’s cabals were not quite informed, with little experience in politics, public administration, and governance,” Dalung remarked.
In contrast, Dalung characterized Tinubu’s cabals as educated, ambitious, and highly knowledgeable about power dynamics.
He labelled them as “masters” of influence with a long history in governance, making them far more formidable and dangerous.
“These cabals are sophisticated, ambitious, and have a deep understanding of power. They are more dangerous than any cabal in the history of this country,” he said.
Dalung also criticized the pervasive influence of cabals in Nigerian politics, emphasizing their challenges to good governance and accountability. Source : https://politicsnigeria.com/tinubus-cabals-are-the-most-dangerous-in-nigerias-history-former-minister-declares/
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Politics › Egypt Leads Africa As Nigeria’s Military Drops To 39th In Global Ranking by Man102(op): 7:33am On Jan 08, 2025 |
Egypt leads Africa as Nigeria’s military drops to 39th in global armed forces rankings
The Armed Forces of Nigeria have dropped three places in the 2024 Global Firepower (GFP) ranking, moving from 36th position in 2023 to 39th among 145 nations assessed worldwide.
This marks a second consecutive year of decline for Nigeria, which was ranked 35th in 2022.
Punch reports that the drop comes despite the acquisition of fighter jets and other military assets, alongside reported successes in the fight against terrorism within the country.
Nigeria also slid from third to fourth place among African countries, with Egypt maintaining its top spot on the continent, followed by Algeria and South Africa.
Globally, the United States retained its first-place ranking for the 18th consecutive year, showcasing superior strength across material, financial, and resource categories. Russia, China, India, and South Korea rounded out the top five.
Other notable African nations in the rankings include Ethiopia, Angola, Morocco, and the Democratic Republic of Congo.
The GFP report assessed countries based on over 60 factors, including military resources, financial stability, logistical capabilities, and geography. Nigeria’s Power Index (PwrIndx) score for 2024 stood at 0.5619, with a score of 0.0000 being considered “perfect.” Source : https://politicsnigeria.com/egypt-leads-africa-as-nigerias-military-drops-to-39th-in-global-armed-forces-rankings/
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Properties › Re: Ebonyi -ghana Based Business Mogul, Zubitech Builds New Mansion For His Mother by Man102: 6:33pm On Jan 07, 2025 |
SmartPolician: How is this newsworthy? Have you built house for your mother? |
Properties › Re: Ebonyi -ghana Based Business Mogul, Zubitech Builds New Mansion For His Mother by Man102: 6:33pm On Jan 07, 2025 |
Calitoscassius: Who da fork else is he supposed to build a mansion for? My mother? Me?
Gerarahia!! Very ugeeleee man! If that is his wife on the picture, she is ugeeeleee also!
Jeeezz! How can people be this so ugeeeelee?! You are a complete mugu |
Properties › Re: Ebonyi -ghana Based Business Mogul, Zubitech Builds New Mansion For His Mother by Man102: 6:29pm On Jan 07, 2025 |
This is massive. Congratulations to him. Ebonyians are beginning to wake up |
Politics › Re: Obidigbo Condemns Kidnap Of Anglican Archbishop, Rev Okpala In Anambra State by Man102: 4:52pm On Dec 18, 2024 |
Obidigbo is now becoming the voice for the voiceless. This is what the Governors of South East have failed to do. |
Politics › Re: Obidigbo Condemns Kidnap Of Anglican Archbishop, Rev Okpala In Anambra State by Man102: 4:40pm On Dec 18, 2024 |
This is really sad |
Politics › Re: Abia Airport: Onuigbo Says President Tinubu Is Intentional About Economic Hubs by Man102: 12:05pm On Dec 18, 2024 |
Onuigbo is a well-respected elder statesman |
Politics › 2027 Is Not Atiku’s Year, He Should Wait Till 2031 – Joe Igbokwe by Man102(op): 5:28pm On Dec 16, 2024 |
Joe Igbokwe, a chieftain of the All Progressives Congress (APC), has stated that former Vice President Atiku Abubakar cannot become Nigeria’s president in 2027.
Igbokwe, writing on his Facebook page, argued that Atiku’s presidential ambition for 2027 is unrealistic and advised him to wait until 2031.
He also pointed out that Atiku’s age could be a limiting factor in his pursuit of the presidency, adding that the 2027 election was unlikely to work in the Adamawa-born politician’s favour.
His words: “Former Vice President of the Federal Republic of Nigeria Alhaji Atiku Abubakar is still struggling and dreaming to be president of Nigeria in 2027.
“It cannot fly, all things considered. He should wait till 2031. Even at that, age is not on his side.”
Igbokwe’s remarks come amid comments from the Secretary to the Government of the Federation, George Akume, who suggested that no one from the North should contest against President Bola Tinubu in 2027. https://politicsnigeria.com/2027-is-not-atikus-year-he-should-wait-till-2031-apc-chieftain/
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Politics › BREAKING!!! President Tinubu Approves Free Train Rides For Nigerians by Man102(op): 5:19pm On Dec 16, 2024 |
BREAKING!!! President Tinubu Approves Free Train Rides for Nigerians President Bola Tinubu has approved free train rides for Nigerians nationwide from December 20, 2024, to January 5, 2025. The move is aimed at easing transportation costs during the festive season, Minister of Information and National Orientation Mohammed Idris announced in Abuja. Idris explained that this initiative is consistent with President Tinubu’s desire to cushion the effect of transportation costs, especially for vulnerable Nigerians. “As we did last year, there will be free train service to all Nigerians from December 20 up until January 5, free train service nationwide. “This is consistent with the President’s desire to cushion the effect of transportation, especially to the most vulnerable Nigerians. “Recall that this also happened in the last Christmas period and the Sallah period. And the President has also approved that this year,” Idris said. Source : https://politicsnigeria.com/breaking-president-tinubu-approves-free-train-rides-for-nigerians/#google_vignette
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Politics › Re: Inside Ebonyi Market Where Vegatable Sellers Are Forced To Pay Heavy Tax (vid) by Man102: 4:54pm On Dec 16, 2024 |
Chei, this is really bad. Governor Nwifuru is getting it wrong totally. Why taxing the poor women. The video is really an eyesore |
Politics › SEDC: Tinubu Deserves Kudos For Reversing Years Of Igbo Relegation - Onuigbo by Man102(op): 11:43am On Dec 16, 2024 |
SEDC: President Tinubu deserves kudos for reversing years of Igbo relegation - Onuigbo
... Onuigbo tasks pioneer members on excellent performance
CHAIRMAN, Security, Climate Change, and Special Interventions Committee on the Governing Board of North East Development Commission (NEDC), Rep. Sam Ifeanyi Onuigbo, has said that the President, Asiwaju Bola Tinubu GCFR, deserves special thanks for empaneling the South East Development Commission (SEDC).
He noted that by expeditiously assenting to the bill for the creation of SEDC after its checkered passage by the 10th National Assembly, the President did what other Nigerian leaders before him could not do.
In a statement made available to media, Sunday, in Abuja, Onuigbo, who represents South East geopolitical zone in the Governing Board of NEDC, remarked that the SEDC has unique and specialized roles to play and promises to fulfill for the region after the intense devastations of the civil war.
He declared that the South East interventionist commission was coming more than 54 years after a proclamation to address the promises of the triple Rs- Rehabilitation, Reconstruction, and Reintegration--which were virtually abandoned by successive military and civilian administrations.
Onuigbo, who served two terms as the representative of Ikwuano/Umuahia North and Umuahia South Federal Constituency in the National Assembly, remarked that as a man of history, President Tinubu has touched a sensitive nerve to heal deep-seated wounds of the past.
He stated: “In all honesty, President Tinubu deserves special thanks from the people of South East, because for more than half a century, the scars of the civil war remained with us in terms of infrastructure despoliation, social disconnection and economic tribulation.
“By signing the South East Development Commission establishment bill into law and following it up with the constitution of its members, the President has equipped the commission to intervene in a special way to address the wounds of the past through psychological healing.
“The SEDC has come to remove the nagging feelings of distrust and socio-economic marginalization among the people of South East. For rising to this historical challenge, special thanks should go to President Tinubu.”
He therefore charged the pioneer members of SEDC to work extra hard with uncommon unity of purpose to lay a solid foundation for the commission by achieving great milestones, even as he urged the members to do all in their powers to reenact the past global rating of South East as one of the fastest growing economies in the world.
Onuigbo, who sponsored Nigeria’s landmark legislation on the Climate Change in the 9th National Assembly, said the leadership and members of the 10th National Assembly equally deserve a pat in the back for rolling out the SEDC law.
He stressed that the Deputy Speaker of the House of Representatives, Rt. Hon. Benjamin Kalu, succeeded in writing his name in gold by that momentous legislation, adding that the ball is now in the court of the members of the SEDC to live up to the great expectations of the enabling law.
“As one who sponsored the Climate Change Act 2021, I know the rigours, hurdles, and challenges of working any piece of impactful legislation through the various processes up to the signing stage. On this score, Rt. Hon. Ben Kalu has justified his position as Deputy Speaker of the House of Representatives and as a focused leader.
“In the same vein, my appeal goes to the leaders, stakeholders, Ndigbo at home and in the Diaspora, and residents in the South-East geopolitical zone to join hands and support the Emeka Wogu-led members of the Governing Board of the commission to succeed. The success of the commission would be the greatest sign of the show of appreciation to President Tinubu for breaking the jinx and delivering this historic gesture.
“Coming at a time when Nigeria’s independence national anthem has been reinstated, the people of South East can now boldly sing and believe that the journey to building a nation, ‘where no one is oppressed,’ has begun,” Onuigbo declared.
It could be recalled that although the idea of a South East Development Commission was mooted in the life of the 6th National Assembly, the bill suffered many dislocations in the 8th and 9th Assemblies until Hon. Ben Kalu and other lawmakers rallied to its passage and eventual signing into law by President Bola Tinubu in July 2024.
The President recently forwarded the names of members of the SEDC, to be headed by the former Minister of Labour and Productivity, Dr. Emeka Wogu, to the Senate for screening and possible confirmation.
According to the establishment Act, the Commission is charged with the responsibility of, among other things, “to receive and manage funds from allocations of the Federation Account for the reconstruction and rehabilitation of roads, houses and other infrastructural damages suffered by the region” during the civil war, as well as tackle the ecological problems and other related environmental cum developmental challenges in the South East states. Source : https://newsmaxng.com/2024/12/16/sedc-president-tinubu-deserves-kudos-for-reversing-years-of-igbo-relegation-onuigbo/
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Politics › 2027: North-central APC Declares Full Support For Tinubu’s Second Term Bid by Man102(op): 7:30am On Dec 16, 2024 |
2027: North-central APC Declares Full Support For Tinubu’s Second Term Bid |#Politicsnigeria The North-Central All Progressives Congress (APC) Forum has thrown its weight behind President Bola Ahmed Tinubu’s bid for a second term in office. In a statement issued after a meeting in Abuja, the Forum, led by Chairman Alhaji Saleh Zazzaga, expressed satisfaction with Tinubu’s leadership, particularly in infrastructure, security, and appointments. The group argued that no administration since Nigeria’s return to democracy in 1999 has provided as many benefits to the North-Central zone as Tinubu’s. The endorsement comes amidst opposition from the Arewa Consultative Forum (ACF) and its youth wing, Arewa Youth Consultative Forum (AYCF). Both groups have voiced their dissatisfaction with Tinubu’s policies, citing socio-economic challenges, and hinted at supporting a northern presidential candidate in 2027. The APC Forum, however, expressed confidence in Tinubu’s ability to revamp Nigeria’s economy, noting that the President’s policies would eventually turn things around. The group said: “The economic policies introduced by President Tinubu are already making the expected impact, with the recent strengthening of the Naira in the foreign exchange market, improvement in the volume of oil production, and rise in foreign reserves, among others. “President Tinubu’s policies in the petroleum sector have already eliminated scarcity, and we believe that, with time, Nigerians will witness a reduction in the cost of petroleum products, which would reverse inflation in the county. “The APC North-Central Forum believes President Bola Tinubu deserves a second term to midwife these reforms which are already bearing fruit, and we call on all Nigerians to support his administration to improve the situation in the country. “After extensive considerations, North-Central APC Forum has given the President a pass mark on insecurity, appointments, infrastructure, economy and other areas. “We stand firmly behind President Tinubu as his bold leadership has brought significant progress to our region, and we believe he is the right person to continue leading Nigeria towards greater prosperity. “We urge all Nigerians to rally behind the President and support him for a second term, to enable his administration to deepen the gains of his reform policies. “Just as we worked for his election in 2023, the North-Central APC Forum assures President Tinubu and all his supporters that we will again work for his reelection in 2027.” Source : https://politicsnigeria.com/2027-north-central-apc-declares-full-support-for-tinubus-second-term-bid/
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Politics › “We’re Barely Surviving” – Young Nigerian Parents Lament Over Prices Of Diapers by Man102(op): 7:15am On Dec 16, 2024 |
As Nigeria grapples with its worst economic crisis in decades, young parents across the country are facing an increasingly difficult challenge raising children amidst soaring prices for basic necessities.
With food costs spiralling out of control, many families find themselves living below the poverty line, struggling to provide essential items like baby food and diapers.
Since President Bola Ahmed Tinubu took office and initiated a series of economic reforms, including the removal of the fuel subsidy, the cost of living has increased.
Fuel prices have skyrocketed, and food and transport costs have more than tripled in the last year and a half. For many parents, this has led to heartbreaking decisions about how to allocate limited resources.
“It has really not been easy, especially this year. The prices of baby food, milk, diapers, and other essentials have more than doubled, and our salaries have remained the same,” Tayo Balogun, a mother of three told Business Day.
“My husband and I are just trying to survive, prioritizing our needs one at a time,” she added.
Inflation has reached record levels, with food inflation in particular driving the majority of the increase. As of October 2024, inflation surged to 33.88 per cent, with food inflation climbing to 40.9 per cent in June.
The relentless rise in prices is leaving many young parents with no choice but to ration food, including basic items like eggs, which have become too expensive for most families to afford regularly.
“I think the hardship has taught everyone to plan ahead,” said Dotun Lawal, a banker who married last year.
“My wife and I agreed on having only two children, so we can give them the best care and not stretch ourselves too thin,” he added. Source : https://politicsnigeria.com/were-barely-surviving-young-nigerian-parents-lament-over-prices-of-diapers-baby-food/
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Politics › German President, Steinmeier To Visit Nigeria by Man102(op): 10:58am On Dec 09, 2024 |
German President Dr. Frank-Walter Steinmeier is set to visit Nigeria on a three-day official trip, starting from December 10 to 12.
This visit marks the third high-level exchange between the two nations since President Bola Ahmed Tinubu’s inauguration in May 2023.
During his visit, President Steinmeier will be accompanied by a delegation of top industry leaders and board members from successful German companies specializing in IT, high-tech, and energy.
President Steinmeier’s itinerary includes meetings with key Nigerian leaders, including President Tinubu and Dr. Alieu Omar Touray, President of the Economic Community of West African States (ECOWAS).
In addition to his official engagements in Abuja, President Steinmeier will also visit Lagos, where he will meet with renowned Nigerian cultural icons, including Dr. Nike Okundaye, popularly known as Mama Nike of the Nike Art Gallery, and Nobel Laureate for Literature, Prof. Wole Soyinka. Source: https://politicsnigeria.com/just-in-german-president-steinmeier-to-visit-nigeria/
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Politics › ‘I’ve Asked Him Twice’ – Sowunmi Reveals Atiku’s Reaction To 2027 Presidency by Man102(op): 7:40am On Dec 09, 2024 |
Segun Sowunmi, a chieftain of the Peoples Democratic Party (PDP) and former spokesman for the presidential campaign of former Vice President Atiku Abubakar, revealed that he has asked the former VP twice about his plans for the 2027 presidency.
According to Sowunmi, Atiku is still in a reflective mood, weighing his options carefully before making a decision.
“Atiku Abubakar is one man I love with my bones. The heart will decay quickly but the bone is the last thing that will decay.
“I have asked him twice, ‘are you running? Are you done? If you are running, what do we do with this structure? If you’re not done we have to do something different’,” Sowunmi said. “He was quiet, he was still in a reflective mood. He’s not said ‘no’, he’s not said ‘yes’ and I respect that.”
He added, “Any sensible person should know that the burden of election is heavy. No human being that has had the kind of experience, challenges and even the kind of betrayal Atiku has endured should not reflect deeply before saying ‘I’m going to run’.
“I don’t do guess work. I’ve asked him twice, he didn’t answer. When he answers, whatever answer he gives, we’ll take it to the next level.”
It is believed that Atiku’s body language suggests he is warming up to run for the presidency again.
Atiku ran unsuccessfully for President of Nigeria six times, in 1993, 2007, 2011, 2015, 2019, and recently in 2023. Source : https://politicsnigeria.com/ive-asked-him-twice-sowunmi-reveals-atikus-stand-on-2027-presidency/
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Politics › Why North Should Wait Until 2031 For President, SSG Akume Explains To Atiku by Man102(op): 7:30am On Dec 09, 2024 |
Why North Should Wait Until 2031 for President, SSG Akume Explains to Atiku, Others | #Politicsnigeria A former President of Nigeria and the 2023 presidential candidate of t he Peoples Democratic Party (PDP), Atiku Abubakar has been urged to wait until 2031 to contest for presidency. This advice was given to Atiku and others Northerners hoping to succeed President Bola Tinubu in the next presidential election scheduled to hold in 2027 by the Secretary to the State Government, George Akume. Speaking on a Channels Television programme on Sunday, the SSG said presidency will not be going to the Northern until 2031. Akume said it is important for all Northern politicians to shelve their presidential ambitions and make way for those from the Southern region. He also stated that President Tinubu would have completed his second term by then to avail them the opportunity by 2031. Akume said, “President Tinubu as a southerner, should be allowed to have a second term, meaning that those eyeing the Presidency from the North in 2027 should look beyond that year by waiting till 2031. “If it is the will of God for Alhaji Atiku Abubakar to be President of Nigeria, even at the age of 90 years, he can get it. But he and other northerners eyeing the office now should look beyond 2027,” SSG said. Source : https://politicsnigeria.com/why-north-should-wait-until-2031-for-president-ssg-akume-explains-to-atiku-others/
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Politics › Nigeria, Chad, & Niger Launch Joint Military Offensive Against New Terror Group by Man102(op): 7:07am On Dec 09, 2024 |
Nigeria and its neighbours in Chad and Niger have launched a joint military offensive against the Lakurawa terrorist group.
It is understood that the countries’ forces have commenced joint patrols to contain cross-border threats posed by the Lakurawa terrorist group.
The new terrorist group is affiliated with terrorists in the Sahel, particularly from Mali and Niger Republic. It has been linked to heinous criminal activities in the northern part of Nigeria and its neighbours. The group’s activities intensified after the coup in Niger, and they have been responsible for several attacks, including a recent explosion in Zamfara State.
The Lakurawa group is a Mali-based terrorist organization known in the Sahel as Jama’atu Muslimina. The group’s leader, Ahmadu Kofa, has ancestors originally from Nigeria, specifically from the Kebbi Empire. The group has been planning to establish its caliphate for over 25 years, a researcher with the Usmanu Danfodiyo University, Sokoto, Dr Murtala Rufa’i, said.
The Lakurawa group has been attacking villages to collect taxes and has set up camps in 10 Local Government Areas of Sokoto and Bauchi states before its operations became known to the public weeks ago.
The Nigerian Defence Headquarters, in November, announced the emergence of the sect, which the military said operates mainly in Sokoto and Kebbi states. Source : https://politicsnigeria.com/nigeria-chad-and-niger-launch-joint-military-offensive-against-new-terror-group-lakurawa/#google_vignette
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Travel › Investigations Begin As Accra-Bound Flight Loses Two Engines Mid-Flight, Returns by Man102(op): 6:31am On Dec 09, 2024 |
The Nigerian Safety Investigation Bureau (NSIB) has launched an investigation into a serious incident involving a Fly Bird HS 125 aircraft, registration number 5NKAL.
The aircraft, which was en route from Nnamdi Azikiwe International Airport, Abuja (DNAA), to Kotoka International Airport, Accra (DGAA), experienced technical failure on December 6, 2024.
During the flight, the aircraft experienced a loss of both engines. Initial reports indicate that while climbing to flight level 280, the crew reported an issue with engine number 2.
Shortly after, the aircraft was approximately 25 nautical miles southwest of the VOR station VONUK when the crew requested to divert back to Abuja.
The request was immediately granted, and the aircraft descended to flight level 190. However, during this descent, engine number 2 failed at flight level 230.
As the situation worsened, the crew declared a Mayday emergency as engine number 1 also failed at approximately 5,000 feet while approaching Nnamdi Azikiwe International Airport.
Despite the challenges, the crew successfully landed the aircraft at Abuja Airport at 18:16 UTC, with all four people on board – three crew members and one passenger – unharmed. There were no injuries reported.
In a statement issued on Sunday, Mrs. Bimbo Olawumi Oladeji, Director of Public Affairs and Family Assistance at the NSIB, confirmed the incident and revealed that a full investigation is underway.
Preliminary findings reveal that the aircraft was climbing through flight level 240 when the engine issue was first reported. Source : https://politicsnigeria.com/investigations-begin-as-accra-bound-flight-loses-two-engines-mid-flight-returns-to-abuja/
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Politics › Governor Fubara Calls Wike’s Aide A “Data Boy” And “Dog Seller” by Man102(op): 6:29am On Dec 07, 2024 |
Governor Siminalayi Fubara of Rivers State has taken aim at a media aide to the Federal Capital Territory (FCT) Minister, Nyesom Wike, calling him “a data boy” and “dog seller” in a scathing rebuke over comments about projects in Etche-Omuma.
Fubara, addressing the media on Friday, questioned the qualifications and motivations of the aide, who had reportedly criticized the Governor’s recent project inaugurations. The Governor accused him of lacking understanding of governance despite being close to a former governor for eight years.
“If they love you, the appointment they gave to one boy the other day, if you were good, why didn’t they give you that appointment? Go and check yourself, something is wrong with you,” Fubara remarked, expressing his dissatisfaction with the aide’s social media criticisms.
He added that individuals who resort to online insults, like selling “dogs” and engaging in petty behavior, should reflect on their life choices and contribute more meaningfully to society.
Fubara’s comments were in response to claims that the projects he was commissioning in Omuma were merely continuations of those initiated by former Governor Wike. The Governor clarified that while his administration respects past efforts, it is focused on delivering new, impactful projects that cater to the strategic needs of the people.
“We will not celebrate things that will not have meaning,” he stated during the inauguration of the remodeled Government Girls’ Secondary School in Ahoada, a project he inherited upon taking office. “This investment will provide quality education for the girl-child and contribute to shaping responsible citizens.”
Fubara also used the opportunity to affirm his administration’s commitment to meaningful and enduring projects, contrasting them with previous initiatives that he claimed lacked significant impact. “Projects’ delivery is not for mere fanfare,” he said, emphasizing the importance of addressing critical development needs.
The Governor expressed gratitude to the Ekpeye people for their support, despite facing harassment and intimidation. He cited the unjust detention of traditional rulers and the Chief of Staff, Dr. Edison Ehie, as examples of the challenges they had faced. “The truth is always clear: enemies have a time, their team cannot last forever,” he declared, reaffirming his belief that justice and victory were imminent. https://www.google.com/amp/s/www.vanguardngr.com/2024/12/gov-fubara-criticizes-wikes-aide-calls-him-a-data-bby-and-dog-seller/amp/
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Politics › Re: Insecurity In Southeast: Celebrating Ekpa’s Arrest Is Diversionary - Obidigbo by Man102: 7:57pm On Dec 04, 2024 |
Sir Obidigbo is making sense here. A well-respected statesman like this should be listened to. |
Politics › Re: Hon. Alex Ikwechegh Marks 1 Year Of Transformative Leadership In Aba North/South by Man102: 11:08am On Nov 21, 2024*. Modified: 11:33am On Nov 21, 2024 |
Hon. Ikwechegh is the best House of Representatives member right now. Kudos to him
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Business › Despite Police Probe, Zenith Bank Yet To Respond To Missing Aquitane Oil Shares by Man102(op): 6:41pm On Nov 20, 2024 |
Despite police probe, Zenith Bank yet to respond to complaints of missing share dividends, accusations of forged statement of Account leveled against it by Aquitane oil and gas.
After two weeks of reports emerging over allegations of diversion of share dividends and forgery of its bank statement against Zenith bank leveled by Aquitane, the bank is yet to settle the dividends controversy involving companies affiliated to Aquitane even as the claim by the oil and gas company regarding the company’s account statement with the bank said to have been falsified remains unresolved
According to findings from the media investigations, these matters remain pending with the police as Zenith Bank is yet to put forward a detailed defense and have not yet resolved the matters.
Recall that two weeks ago Premium Times and other news platforms had reported that two staff of Zenith Bank were quizzed by the police over the ongoing investigation of allegations against the bank following petition to the police by Aquitane oil and gas.
*Zenith versus Aquitane Oil & Gas*
In what has become a disturbing development in Nigeria’s banking sector, Aquitane Oil & Gas Ltd., a key player in the country’s downstream oil industry, had leveled grave accusations against Zenith Bank Plc, alleging forgery, unlawful asset sale, and the diversion of ₦1.4 billion in dividends.
Aquitane claims that Zenith Bank, along with Veritas Registrars and Quantum Zenith Securities, was involved in a scheme that resulted in the manipulation of their bank accounts and statements and deliberate withholding of dividends for over a decade, despite repeated demands.
Quantum Zenith Securities, a subsidiary of the bank, is accused of facilitating the illegal and unauthorized sale of their Zenith Shares, while Veritas Registrars allegedly withheld dividends owed to its sister companies. The allegations of Zenith Bank’s misconduct are egregious including strong claims and evidence of forgery.
A forensic audit conducted by Aquitane revealed inconsistencies in the bank statements, suggesting deliberate data manipulation aimed at concealing unauthorized transactions and asset sales amounting to hundreds of millions of Naira. These alleged actions by Zenith Bank pose significant risks to public trust and could have serious implications for the integrity of Nigeria’s financial system.
This case also raises serious questions about the credibility of the regulatory oversight within the banking sector and may lead to broader scrutiny of the country’s major financial institutions. As police delve deeper into Aquitane’s petition, which has already sparked intense public interest, calls for transparency and accountability in the investigation are expected to intensify. The case underscores a pressing need for robust financial checks, as Nigeria’s banking sector faces renewed call for sound corporate governance. Source : https://9newsng.com/despite-police-probe-zenith-bank-yet-to-respond-to-complaints-of-missing-aquitane-oil-share-dividends/
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Politics › Re: PDP Blasts Gov. Nwifuru For Spending Billions Welcoming Tinubu’s Wife In Ebonyi by Man102: 9:23pm On Nov 16, 2024 |
This is the worse Governor of Ebonyi State and if EFCC is serious, he should be placed on Watchlist. |
Politics › Re: Kalu's Aide, Peter Eze Weds In Abuja: E-Money, Cubana, Others Attend by Man102: 11:37am On Nov 16, 2024 |
Check out more
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Business › Re: John Ezeobi: Meet Anambra Youngest Most Successful Industrialists (Photos) by Man102: 8:39am On Nov 16, 2024 |
I am a Yoruba man but I love how hardworking Igbos are |
Travel › Lagos-Bound Air Peace Flight Grounded After Bird Strike (Video) by Man102(op): 8:55am On Nov 14, 2024 |
An Air Peace flight bound for Lagos was on Thursday morning abruptly grounded due to a bird strike at the Nnamdi Azikiwe International Airport in Abuja.
The flight, scheduled to depart at 6:30 a.m., was taxied on the runway and ready for takeoff when the unexpected incident occurred.
Lagos-based human rights lawyer, Inibehe Effiong, who was on board, took to his social media handle to recount the experience.
He said, “While taxing on the runway and just before takeoff, our Air Peace flight from Abuja to Lagos scheduled for 6:30 AM today was stopped forcefully, resulting in panic and screams by some passengers.
“The captain attributed the incident to a bird strike. We have been deboarded to await either a replacement or repair of the aircraft.
“Thankfully, whatever happened did not occur after takeoff. It would have been scarier.” Source : https://politicsnigeria.com/breaking-lagos-bound-air-peace-flight-grounded-after-bird-strike-video/
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Politics › “Let Me Tell You The Problem” – Wike Opens Up On PDP Crisis, Reveals Solution by Man102(op): 8:36am On Nov 14, 2024 |
The Minister of the Federal Capital Territory, Nyesom Wike, has identified personal ambition as the root cause of the internal crises rocking the Peoples Democratic Party (PDP). Speaking at a media chat in Abuja, Wike said the party’s failure to address its issues stems from the relentless efforts of some members to undermine him. ”Let me tell you the problem—it is not that the PDP cannot get its acts together; it is this personal ambition,” the minister said. “This attitude that ‘I must bring Wike down’. When all you attempt is to bring me down, you make mistakes. Wike will not go down, which is true.” Wike also criticized Bala Mohammed, Governor of Bauchi and Chairman of the PDP Governors’ Forum, for poor leadership. He described the current leadership as the worst in the party’s history, pointing out that Mohammed’s actions have hindered the party’s progress. “PDP has never had it this bad in terms of leadership, particularly from the chairman of the governors’ forum. And I knew it would be so. Leadership is not by mouth. It is about talking; it is by action,” he said. “How do you know when people are treacherous? When Tambuwal finished as the chairman of the PDP governors’ forum, the position has always been rotating between the north and south. “But Bala and co connived and went to Bauchi and took away the chairman of the governors’ forum of the PDP to the north. “Of course, he knows, if I was governor, it wouldn’t happen. For me as a leader, you must have to make sacrifices. “You must have the capacity to galvanise the people. You are in the opposition party. You are not in the ruling party. People will see that you are serious about taking over power. “How has he (Mohammed) mobilised his colleagues by funding the party to make sure that the party is effective and efficient through the national working committee. Source : https://politicsnigeria.com/let-me-tell-you-the-problem-wike-opens-up-on-pdp-crisis-reveals-solution/#google_vignette
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Business › Police Probe Zenith Bank Over Unpaid Dividend by Man102(op): 3:25pm On Nov 10, 2024 |
JUST IN!!! Police Probe Zenith Bank Over Unpaid Dividend The Nigerian police in Abuja are investigating Zenith Bank Plc over alleged falsification of a shareholder’s bank statements and withholding of share dividends.
The investigation was prompted by a petition from Aquitane Oil and Gas Limited which accused the Zenith Bank of falsifying the oil firm’s account statement.
Aquitane Oil also accused the bank of refusing to pay over N1.4billion dividends accrued from 10,775,299 and 17,425,300 shares units belonging to its affiliate firms – Southern Grace Investment Ltd and Globular Trading Investment Services Ltd respectively.
Aquitane Oil, which petitioned the Force Criminal Investigations Department (FCID) in Abuja, accused the bank of falsifying its account statement in an elaborate effort to conceal the non-payment of the dividends of the shares of the two subsidiary firms.
The company said the two subsidiaries had not been paid their dividends since the purchase of the shares about 2008 and that the bank falsified its own account statements to “conceal” the failure to pay the accumlated dividends.
Premium Times learnt that the police interrogated two representatives of Zenith Bank regarding the case at the FCID Abuja on Wednesday. The Zenith Bank officials were said to be from the oil and gas and legal departments of Zenith Bank.
The police did not detain the officials because they were not direct subjects of investigation.
A source said the police would still interrogate other officials of the bank, like the chief compliance officer and the account officer handling the accounts of the bank.
When contacted for his comment over the telephone on Thursday, Zenith Bank’s spokesperson, Ayoola Kusimo, rather asked, “How did you get that information?”
When encouraged to respond to the issues and care less about the source of the information, Mr Kusimo said, “I’m not aware.”
The Investigating Police Officer, Anota Oluseye, a superintendent of police, said he “cannot comment on an ongoing investigation.”
The FCID launched the investigation after Aquitane Oil and Gas Limited to sent a petition dated 11 October 2024 to the Inspector-General of Police Olukayode Egbetokun.
In the petition, submitted through Lukman O. Fagbemi & Co, the petitioner called on the IGP to investigate Zenith Bank for attempting to “conceal the illegalities” concerning the company’s shares in the bank.
Aquitane Oil and Gas Limited stated that “dividends of 10,775,299 and 17,425,300 units of Zenith Bank shares bought by Southern Grace Investment Ltd and Globular Trading Investment Services Ltd respectively, have not been paid to the firms since 2008.”
The Zenith Bank shares were bought during the Initial Public Offer held by Zenith Bank in 2008 with Veritas Registrars Ltd as the registrar.
Aquitance Oil said in 2020, Southern Grace and Globular Trading realised that the dividends for their shares had not been paid by Zenith Bank since 2008.
Following the discovery, the oil company said its subsidiaries contacted Veritas Registrars Ltd, the registrars of Zenith Bank, to enquire about their dividends, however, Veritas reportedly did not provide any information.
“Our client also holds a bank Account No. 1011453742 with Zenith Bank Plc as a customer,” the petition read.
Aquitane Oil said a bank statement obtained on 21 August 2020, from a Zenith Bank branch, showed the financial institution had not been receiving dividends from the lender.
However, the company alleged that Zenith Bank falsely claimed in letters dated 17 June 2008, and 22 July 2008, that dividends had been paid into Aquitane Oil accounts with the lender and “fabricated and concocted a false Statement of Account with Zenith produced sometime in February 2021 in respect of Aquitane’s Account No: 1011453742,” to show dividend payments into the bank account of Aquitane and a debit balance of about N1 billion.
“Surprisingly, in an attempt to conceal the illegalities committed with regard to the shares dividend, Zenith Bank subsequently produced documents including two letters dated 17 June 2008 and 22 July 2008 to create the false and spurious narrative that the dividends from the said shares were paid into Aquitane Accounts with Zenith Bank,” the company noted.
It added that, “Zenith Bank thereafter fabricated and concocted a false Statement of Account produced sometime in February 2021 in respect of Aquitane’s Account No. 1011453742 which now showed dividend payments into the Bank account of Aquitane and a debit balance well in excess of N1 billion Naira,” noting that the statement of account materially “conflicts with and contradicts the Statements of Account issued earlier by the same Zenith Bank on 21st August 2020” in the normal course of business upon request from a branch.
“This established the fact that the account was in credit and that no dividend payments were lodged into the account at any time,” it added. Source : https://www.premiumtimesng.com/news/top-news/752997-police-probe-bank-over-unpaid-dividend.html#:~:text=The%20Nigerian%20police%20in%20Abuja,the%20oil%20firm's%20account%20statement.
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Politics › Okowa: Timi Frank Dares EFCC On Arrests Of Wike, Ortom, G-5 Ex-governors by Man102(op): 7:00am On Nov 07, 2024 |
Former Deputy National Publicity Secretary of the All Progressives Congress (APC), Timi Frank, has challenged the Economic and Financial Crimes Commission (EFCC) to arrest and prosecute a group of politicians in the Peoples Democratic Party (PDP), popularly known as the G-5. The group has members including Nyesom Wike (Rivers), Ifeanyi Ugwuanyi (Enugu), Samuel Ortom (Benue), Okezie Ikpeazu (Abia), and Seyi Makinde (Oyo). The call comes after the EFCC arrested former Delta State Governor, Dr. Ifeanyi Okowa, over alleged N1.3 trillion fraud. Frank commended the EFCC for Okowa’s arrest but urged the commission to adopt a comprehensive approach in addressing corruption, rather than selective targeting. He alleged that the presidency instructed the EFCC not to prosecute the G-5 governors as part of a bargain during the 2023 general election. It should be recalled that the G5 group supported APC’s Tinubu in 2023 following a fallout with its presidential candidate, Atiku Abubakar. Timi said, “While we are happy to see that EFCC has arrested Okowa, it should do the same to the rest, particularly the G5 governors. We want to see them arrested, charged to court, and prosecuted. “Intelligence from our sources shows there’s a memo from the presidency to EFCC not to prosecute the G -5 governors as part of the bargain they had during the 2023 general election. “We challenge the EFCC to prove us wrong by arresting members of the G-5 governors based on the various petitions against them.” Source : https://politicsnigeria.com/okowa-timi-frank-dares-efcc-on-arrests-of-wike-ortom-g-5-ex-governors-reveals-tinubus-directive/
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Politics › Tension In Kano As Governor Rebels Against Kwankwasiyya, Ignores Kwankwaso by Man102(op): 2:57pm On Nov 04, 2024 |
The growing political tension within the New Nigeria Peoples Party (NNPP) in Kano has reached a boiling point over the deepening rift between Governor Abba Yusuf and his political mentor and party godfather, Rabiu Kwankwaso.
Tensions have escalated following Kwankwaso’s control over critical party and local government decisions without input from the governor.
This includes appointing local government chairmen and influencing the party’s political machinery, which has fueled growing resentment within the governor’s camp.
“Abba (Gov Yusuf) does not want to denigrate Kwankwaso, but he truly wants to be independent. Ninety per cent of the commissioners were imposed by Kwankwaso, and Abba is still working with them. This shows he still respects him.
“For a long time, Abba wanted to drop some commissioners who are either incompetent or disloyal to him, but out of respect for Kwankwaso, he reluctantly accommodates them for peace to reign,” an insider close to the governor told Daily Nigerian.
Except for the governor’s appearance at Kwankwaso’s birthday celebrations on October 21, where the godfather used the opportunity to corner the governor at the Mallam Aminu Kano International Airport lounge, the duo has not met or spoken in recent months.
Insiders said the governor shunned meetings convened by Kwankwaso at his Miller Road and Maitama residences in Kano and Abuja respectively, without giving any excuse.
“He (Governor Yusuf) earlier agreed to attend the Miller Road meeting at night but he kept Kwankwaso waiting through midnight and refused to come,” an insider revealed. https://politicsnigeria.com/tension-in-kano-as-gov-yusuf-rebels-against-kwankwasiyya-ignores-kwankwasos-calls/#google_vignette
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Politics › Re: What Lady Bianca’s Inclusion In Tinubu’s Cabinet Means To Igbo, By Obidigbo by Man102: 1:23pm On Nov 04, 2024 |
We need more people like Obidigbo in our land. Congratulations to Bianca Ojukwu. Most Beautiful woman on earth |