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Rivers APC Demands Fubara’s Explanation Of N144bn Allocation Spending

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The Rivers State leadership of the All Progressives Congress (APC) on Tuesday pressed Governor Siminalayi Fubara to explain the N144.2 billion federal allotment that the state had received over the previous five months, arguing that there was no tangible evidence of the monies’ use.

However, in support of the governor, Joseph Johnson, the Rivers State Commissioner for Information and Communications, charged that the APC was engaging in political posturing.

During a visit with Martin Amaewhule, the Speaker of the state House of Assembly, Chief Tony Okocha, the Chairman of the state APC Caretaker Committee, questioned Fubara’s handling of the state’s resources.

Okocha said, “As a party in opposition in the state, we have received data of the sum received by the Rivers State Government from the Federal Allocation from June 22, 2023 to November 2023.

“The Rt Hon. Speaker, it is our finding that a whooping sum of N144,291,667,791.1  has been received from the federal allocation under the governor. This amount is outside the Internally Generated Revenue of the state, which is put conservatively at N10bn every month.

“We regret that this humongous amount has not translated to action in any way in terms of development in the state. What we see are heavily funded street processions and media-sponsored rallies in support of unnecessary political imbroglios.

“Fifth columnist and crisis entrepreneurs feed fat from our commonwealth. As a party, we shall not hesitate to punish any member of our party who is in the cohort in this gross financial malfeasance of our dear Rivers State.”

The APC leader urged the Assembly Speaker to keep a close watch on the governor, saying “And if you do nothing you are equally complicit.”

Responding, the Assembly Speaker, Amaewhule, said the legislature would continue to make laws that would benefit the people while it would amend those harmful to the people.

He stated, “Rest assured that the 10th Rivers State House of Assembly will not do anything outside the law. Whatever we do today is for the interest of the state so that when we are out, others coming after us will feel the impact of the service and legislation we offered to the Rivers people.”

But in a swift reaction, the Commissioner for Information and Communications, Johnson, insisted that the Fubara administration had been prudent and accountable.

He said, “When we come to the accountability forum, the Rivers people will see what we have done and, of course, they know that we are on course.

“Even though it is too early to assess this government, I’m sure we have since hit the ground running.

“He (Okocha) forgot that we have given about N150bn legacy project for the Ring Road, which surpasses the N144bn he is talking about. We have paid 77 percent of it.

“We are doing  20,000 hectres of land for housing units.

“So you don’t just raise issues or mention figures without a proper understanding as to how government works. That’s why I said it’s his own imagination.

“We have promoted civil servants who had not been promoted for over eight years. All those funds, if you calculated from June to November, it speaks volumes about what has entered. Our wage bill is N2.6bn just from the promotion of teachers alone.

“So, he needs to go back to the drawing board and ask what and what has not been done and what has been done.”

BIG STORY

UPDATE [AFCON]: Libya Jittery As CAF Demands Response To Nigeria’s Protest

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The Libyan Football Federation is reportedly panicking after being asked by CAF to “submit documents” concerning the cancellation of the AFCON qualifying Group D match against Nigeria.

Nigeria had refused to play the match after their “plane was diverted to Labraq Airport” where they were “held hostage for 18 hours without food and water.”

According to Libya Al-Ahrar Channel, “Nasser Al-Suwaie,” Secretary-General of the Libyan Football Federation, confirmed that “CAF has given the Libyan and Nigerian associations until the 20th of this month to submit” all relevant documents.

Al-Suwaie further revealed that the Libya FA has “assigned a specialised lawyer” to provide evidence, suggesting “there may be collusion from some parties within CAF,” though he assured that the position of the Libyan Federation remains strong.

He clarified that “the Libyan Federation did not change the course of the plane’s landing,” which was a decision by “the Libyan state,” and this “sovereignty of the Libyan state must be respected.”

The “Super Eagles returned” to Nigeria with reports of difficult conditions, including “sleeping on the bare floor” of the airport. Team manager “Patrick Pascal” described how the “toilet had been deliberately seriously messed up by the Libyan officials” in anticipation of their arrival.

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FG Officially Ends Fuel, FX Subsidies, Unveils Housing Finance Plan To Tackle Unemployment

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The Federal Government has officially ended “fuel and Foreign Exchange (FX) subsidies,” Finance Minister and Coordinating Minister of the Economy, “Wale Edun,” announced on Thursday during the presentation of the Nigeria Development Update by the World Bank in Abuja.

Edun disclosed that the subsidies had significantly strained the nation’s economy, costing Nigeria around “N10 trillion,” which is about five percent of the country’s Gross Domestic Product (GDP).

“Fuel and FX subsidy are extinguished,” the minister stated, marking a major shift in economic policy.

In response to growing unemployment, the government is launching a new plan focused on housing finance.

The initiative includes a mortgage scheme with near single-digit interest rates, intended to boost construction and generate considerable job opportunities.

At the same event, Central Bank of Nigeria (CBN) Governor, “Olayemi Cardoso,” discussed the recent half-percent interest rate hike by the Monetary Policy Committee (MPC), attributing the increase to inflationary pressures.

He assured that future policies would be “data-driven and evidence-based.”

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BIG STORY

Air Peace: U.S. Government Seeks Forfeiture Of Allen Onyema’s $14 Million Assets In Amended Fraud Case

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The United States government has requested the District Court, Northern District of Georgia, to approve the forfeiture of approximately “$14 million” in assets from Allen Ifechukwu Onyema, CEO of “Air Peace,” following a recent superseding indictment.

The indictment outlines allegations of fraud and money laundering against Onyema and his associate, Ejiroghene Eghagha, who serves as Chief of Administration and Finance at “Air Peace.”

The indictment includes multiple counts: Count One alleges “conspiracy to commit bank fraud,” while Counts Two through Four involve instances of “bank fraud.”

Count Five pertains to “conspiracy to commit credit application fraud,” and Counts Six through Eight are for “credit application fraud.” Counts Nine through Thirty-Five address “money laundering.”

If convicted of the charges in Counts One through Five, the defendants must forfeit property gained through these alleged crimes, including substantial sums in business-related bank accounts.

The U.S. government specifically seeks the forfeiture of “$4,017,852.51” from a JP Morgan Chase Bank account held by “Springfield Aviation Inc.,” “$4,393,842.05” from a Bank of Montreal account linked to “Springfield Aviation Inc.,” and “$5,634,842.04” from a Bank of Montreal account associated with “Blue Stream Aero Services, Inc.”

The indictment states that if these assets are unavailable, the U.S. will pursue other assets of the defendants of equivalent value.

The legal case is being led by U.S. Attorney Ryan K. Buchanan, with Garrett L. Bradford and Christopher J. Huber.

On October 13, it was reported that Onyema and Eghagha had been initially indicted in 2019 on charges of “conspiracy to commit bank fraud,” “bank fraud,” and “money laundering.”

The scheme allegedly involved using falsified documents to purchase aircraft and laundering over “$16 million” in proceeds.

In response to these charges, “Air Peace Limited” stated that its legal team is engaged in the matter and working to ensure justice.

Onyema now faces new charges for allegedly “obstructing justice” by submitting false documents to halt an investigation into earlier bank fraud and money laundering charges.

Eghagha is also implicated in the obstruction scheme and faces additional charges tied to the original bank fraud counts.

This information was disclosed in a statement by the U.S. Attorney’s Office, Northern District of Georgia.

“After allegedly using his airline company as a cover to commit fraud on the United States’ banking system, Onyema, along with his co-defendant, allegedly committed additional crimes of fraud in a failed attempt to derail the government’s investigation of his conduct,” said U.S. Attorney Ryan K. Buchanan.

“The diligence of our federal investigative partners revealed the defendants’ alleged obstruction scheme, making it possible for the defendants to be held accountable for their aggravated conduct of attempting to impede a federal investigation.”

US Attorney Buchanan further revealed that Onyema is linked to a complex financial scheme.

According to the superseding indictment and court records, Onyema, founder of “Air Peace” (established in 2013), frequently visited Atlanta between 2010 and 2018.

He is accused of opening multiple personal and business bank accounts in Atlanta, through which over “$44.9 million” was allegedly transferred from international sources.

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