News

Court Siezes $2.04m worth of properties linked to Emefiele

On Friday, a Federal High Court in Lagos ordered a final forfeiture of 2.04 million dollars, linked to the suspended Central Bank Governor, Godwin Emefiele. Justice Isaac Dipeolu also ordered the final forfeiture of landed properties and share certificates of Queensdorf Global Fund Ltd Trust, all linked to Emefiele. The court made the final orders of forfeiture, after holding that the former CBN governor or any other interested party did not contest the same after an earlier interim forfeiture order

The court held that the respondent could not connect his lawful earnings from Zenith Bank and the CBN to the acquisition of the properties. The Economic and Financial Crimes Commission (EFCC) counsel, Rotimi Oyedepo (SAN) had by a motion on August 15, sought an order to forfeit the properties on grounds that they were reasonably suspected to be proceeds of unlawful activities.

Oyedepo had added that the orders sought were under Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act 2006, Section 44 (2)(b) of the 1999 Constitution of the Federal Republic of Nigeria and the court’s inherent jurisdiction.

The court had granted the interim order of forfeiture on the properties and had adjourned for any interested party to appear in court and show cause. In its ruling on Friday, the court held that the respondent failed to provide documents or links to show that he owned the properties.

The court held that the conclusion that can be deduced is that there must be something dark about the acquisition of the properties, which the respondent and the companies do not want to come to light.

The judge consequently, held that “the interested party has failed to demonstrate any lawful interest in the properties and that they were acquired from his legitimate earnings”.

“I, therefore order the final forfeiture to the Federal Government of Nigeria, of all those properties, which are reasonably suspected to have been acquired with proceeds of unlawful activities”.

The properties are two fully detached duplexes of identical structures, lying and situated at No. 17b Hakeem Odumosu Street, Lekki Phase 1, Lagos

An undeveloped land, measuring 1919.592sqm at Oyinkan Abayomi Drive Ikoyi, Lagos; a bungalow at No. 65a Oyinkan Abayomi Drive, Ikoyi, Lagos and a four-bedroom duplex at 12a Probyn Road, Ikoyi.”

Others are an industrial complex under construction, 22 plots of land in Agbor, Delta State; eight units of an undetached apartment at No. 8a Adekunle Lawal Road, Ikoyi, and a full duplex together with all its appurtenances on a plot of land at 2a Bank Road, Ikoyi, Lagos

News

Governors in heated meeting With Presidency Over Tax Reforms

The Nigeria Governors Forum (NGF) convened a late-night meeting in Abuja on Tuesday, December 10. The meeting ended without a communiqué, fuelling speculation about the contentious tax reform bills at the heart of their discussions.

The meeting, which commenced at 10 p.m. and lasted just an hour, was attended by 15 governors, primarily from the ruling All Progressives Congress (APC).

Governors Alex Otti of Abia State and Chukwuma Soludo of Anambra State, representing the Labour Party and the All Progressives Grand Alliance, were also present.

Sources disclosed that the governors failed to reach a consensus on the tax reform bills President Bola Tinubu recently presented to the National Assembly.

The reforms have drawn sharp criticism, with 19 northern governors rejecting key provisions and urging withdrawal. The National Economic Council (NEC) also reportedly dismissed the proposed legislation.

“The bills are flawed and fail to address the realities in many states,” a northern governor reportedly remarked.

The NGF’s silence following the meeting has further heightened public interest. Deviating from tradition, the governors refrained from issuing a post-meeting statement or briefing journalists.

This development has sparked concerns about potential divisions within the NGF, as the governors grapple with the polarising tax proposals. Observers note that the absence of an official communiqué suggests deep-seated disagreements.

As Nigerians await clarity on the fate of the tax reforms, the meeting’s abrupt conclusion underscores the growing tension over Tinubu’s economic policies. Whether the governors will resolve remains to be seen.

News

Okpebholo Budget Speech: Edo Governor struggles with figures during budget presentation

Edo Governor, Senator Monday Okpebholo, had a bit of a rough start while presenting the 2025 budget proposal to the state House of Assembly, on Tuesday.

He struggled to get the figures right, stumbling over the numbers and eliciting laughter and murmurs from the lawmakers.

“The Edo state Appropriation Bill of six billion… 605 billion… 76 million…” Okpebholo began, his hands unsteady and voice quivering in the rarefied assembly.

“Let me take it again. 506 billion… 605 billion… sorry… 776 billion… sorry, it’s confusing me,” the governor stuttered and chuckled.

Despite the initial hiccup, Okpebholo composed himself and continued with the presentation.

The proposed budget, tagged “Budget of Renewed Hope for a Rising Edo,” stands at N605 billion, a 25% increase from the 2024 budget.

The governor highlighted road infrastructure and education as key priorities for his administration, allocating N162 billion for road development and N48 billion for education.

Okpebholo also emphasized the importance of security and community development, pledging to bring peace and harmony to the state.

He announced plans to provide N500 million monthly subvention to Ambrose Ali University, Ekpoma, to support its revival.

The governor’s budget proposal is designed to achieve the goals of his five-point agenda, which includes security, infrastructural development, healthcare, food sufficiency, and education.

News

PDP expels Reps member Ugochinyere over anti-party activities, indiscipline

The Peoples Democratic Party (PDP) has expelled the lawmaker representing Ideato North/Ideato South Federal Constituency of Imo State, Honourable Ikenga Ugochinyere, with immediate effect due to gross indiscipline, insubordination and anti-party activities.

Ugochinyere’s expulsion was announced in a letter by the Ideato LGA chapter of the party dated December 5, 2024, and signed by the LGA Chairman, Hon. ThankGod Okeke, and the Secretary, Onyebuchi Umeh which they addressed to the State Chairman.

This is according to a statement on Friday, December 6, 2024, wherein Lancelot Obiak, the Imo PDP Publicity Secretary, said the executives expelled Ugochinyere.

The decision followed the report of the party’s disciplinary committee dated November 27, 2024, which investigated alleged misconduct against the lawmaker in line with Section 57 (1-4) of the PDP Constitution 2017 as amended.

Ugochinyere was first suspended at his Umuopia/Umukegwu ward on October 14, 2024, following failure to honour the invitation to appear before the ward Executive Committee to defend the allegations of disciplinary offences against him.

The statement read, “The expulsion was conveyed in a letter by the Ideato LGA chapter of the party dated December 5, 2024, and signed by the LGA Chairman, Hon. ThankGod Okeke and the Secretary, Onyebuchi Umeh which they addressed to the State Chairman.

“The expulsion followed the report of the party’s disciplinary committee, dated November 27, 2024, which investigated misconduct charges against Ugochinyere in line with Section 57 (1-4) of the PDP constitution 2017 as amended.

“The lawmaker had been suspended at his Umuopia/Umukegwu ward on October 14, 2024, after failing to honour the invitation to appear before the ward Executive Committee on October 5, 2024, to answer to allegations of disciplinary offences, and ignoring reminders and further invitation sent to him on October 7, 2024.

“The letter partly read: “Upon receipt of the report, the LGA Executive Committee of Ideato North met on the 5th of December, 2024, and unanimously adopted the report of the disciplinary committee”.

“In light of this, Hon. Imo Ugochinyere Ikegwuonu is hereby expelled from the party (PDP) with immediate effect and he ceases to be a member of the Peoples Democratic Party in Umuofia/Umukegwu ward of Ideato North LGA”.

“The party found Ugochinyere guilty of deliberate failure to attend meetings and participate in activities of the party for a long time in breach of Section 58 (1)e) of the PDP constitution 2017 as amended. He was said to have engaged in unauthorised publicity of disputes within the party which contravenes section 58(1)i of the party’s constitution. Also, he formed parallel executive and organs of the party in his ward, and at the LGA and National levels which also breaches the party’s constitution”.

“Furthermore, he was found guilty of consistently making derogatory and provocative public statements against the party and some of its national leaders, an action that brought the party to public ridicule”.