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Emeka Ihedioha, Rochas Okorocha Disgraced at New Yam Festival…… + Okorocha is an embarrassment to democracy- Prof. Viola Onwuliri

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Irresponsible, demeaning, distasteful and lawless are words that best describe the show of shame following the needless altercation between Imo State Governor, Rochas Okorocha and Deputy House Speaker, Chief Emeka Ihedioha, at the Iriji Mbaise New Yam Festival, over the weekend. So bad was the situation that President Goodluck Jonathan, who was represented at the event by Foreign Affairs Minister, Prof. Viola Onwuliri, described Okorocha as an embarrassment to democracy and a disaster waiting to happen! Okorocha countered that Imo people have rejected Jonathan and the ruling Peoples Democratic Party (PDP) because they are worse than the Ebola virus. The Mbaise nation was apparently angry that Okorocha engaged Ihedioha – a son of the soil – in their home turf. The ensuing pandemonium saw Okorocha’s microphone switched off, as people jeered the governor while he spoke. This, to say the least was embarrassing and disgraceful. It is an unbelievable shame that underscores more the culture of intolerance that has crept into the public space. Honestly, the people of Imo State deserve better!

The willful transformation of the 2014 Yam Festival into a political rally of sorts with the governor and the Deputy House Speaker, fighting for supremacy is shameful and unacceptable. One of the hallmarks of political maturity is civility and tolerance. By this unjustified expression of intolerance and bad manners, Okorocha and Ihedioha have brought Mbaise people, Imo State and the entire nation into disrepute, going by their cavalier showmanship, intemperate feistiness and reprehensible waywardness that characterized their utterances at what was supposed to be a cultural jamboree. This was a great disservice to efforts at rebranding Nigeria. Whatever might have informed the torrid exchanges, the actions of the two men; who by virtue of their authority positions and power are supposed to exercise restraint, was a mockery of the admonition that two wrongs don’t make a right.

The shoddy manner, in which the event organizers handled matters, leaves much to be desired even as there was no love lost between Okorocha and the Mbaise nation. Receiving the governor to Mbaise, Ihedioha fired the first salvo, pointedly telling Okorocha that he (Okorocha) would as a matter of necessity hand over to him in 2015, noting that the governor’s exit was not negotiable. Ihedioha also held the governor to task on what he described as “lack of state government presence in Mbaise.” According to Ihedioha, “the major projects in Mbaise are those executed by the federal government. In the few areas credited to the state government, we only see projects that are very poorly executed…It is evident that the governor has run out of ideas, so as a matter of expediency, it is expected that he would hand over the reins in 2015 so we can help out.”

Responding, a visibly angry Okorocha said: “the green cap (referring to Ihedioha’s trademark cap) will not make anybody governor of Imo State and as a matter of fact, there is nobody in the Imo State Peoples Democratic Party (PDP) who is my match in an electoral contest. My three years in office is more productive than the 12 years spent in the state by the PDP. Imo people have rejected PDP because PDP is worse than the Ebola virus.” As he continued his tirade, the microphone was switched off; and went dead again when he said he had laid the foundation for a campus of the Imo State University to be sited in Aboh Mbaise/Ngor Okpala federal constituency. The crowd booed and jeered dismissing the university as a political gimmick informed by expediency.

The brigandage and confusion degenerated into a free for all between Okorocha’s supporters and those of Ihedioha, but security agents on ground stepped in and whisked the governor away to safety. While many believed Okorocha fled the event long before the breaking of kola nuts and the address of the president, his supporters said he left for another assignment.

From Ihedioha’s perspective, the palpable perception of leadership failure and the deficit in delivery of public goods to Imo people by the Okorocha administration might have culminated in a loss of faith in the governor. But the event was not the appropriate forum for Imo people to wash their proverbial dirty lining in public. Rather, there was no better time than the New Yam festival to rediscover those binding ethos of the Mbaise nation as an integral part of Imo State. The brigandage therefore, amounted to a mindless circumvention of the community spirit and essence of the festival. Trading invectives and casting banal aspersions on each other, at an event that is supposed to showcase those values that define Mbaise nation and Imo State in general, was most inauspicious and must never again be contemplated or tolerated.

It bears restating that what played out could be a prelude to “do-or-die” elections in 2015; especially as the blame game has continued. Professor Onwuliri told journalists after the event that Okorocha was not interested in the festival but just came to create confusion and derail the event. She said: “Since Okorocha assumed office in 2011, he has never attended the Iriji Mbaise until this one that precedes the election year. This is not the ground for venting personal animosities. He even left before the actual ceremony began. He just brought trouble to the event and this is an embarrassment to the state and its people. I am positive that by 2015, we will all have a chance to redress this anomaly.”

Ihedioha, reacting to an Imo state government statement, asking him to apologize to the governor for the embarrassment and disgrace at the event, instead asked Okorocha to apologize to the Mbaise people for defiling their custom and tradition. “The deputy speaker and other Mbaise leaders believed that it was the governor who actually owes the Mbaise people an apology for disrupting the event after coming late in his characteristic manner and defiling the treasured cultural values and tradition of Iri Iji Mbaise,” a statement by Chibuike Onyeukwu issued on behalf of the deputy speaker said.

Ihedioha discounted as a blatant lie, the claim by Imo state government that he did not welcome the governor to the event, noting that though Okorocha had ulterior motives for attending the festival after spurning invitations in the past three years, he still gave him the courtesy of welcoming him as chief guest of honor. The statement clarified: “It is on record that the deputy speaker did not only welcome Okorocha to the event but also enjoined him to accept the kolanut offered to him as chief guest of honor. Ihedioha said Okorocha’s recourse to attacking him simply confirms the fact that “the governor holds him (Ihedioha) in trepidation and is at a loss as to how to address his growing popularity and acceptance among the Imo people vis-a-vis his (Okorocha’s) fast declining rating among the people.”

While the point is to be made that there is enough blame to go around, it can only be to the utter shame and ridicule of Mbaise nation and Imo State as a people unable to get their act together. Apart from underlining the low quality of leadership in Imo today, it simply reinforces the cynicism of outsiders about Imo citizens who have largely become a band of docile and complacent people, who concur in the despoliation of their land by their passive indifference and cold complicity in the face of reckless, arbitrary and criminal dissipation of their commonwealth by corrupt, inept, clueless and lawless leadership. Imo State should not be embroiled in such destructive, distractive, unhealthy and volatile disputations rooted in ego-offensive personality cults, the type that is setting other states on fire and creating cleavages and tension. A man’s public comportment after all, is a reflection of his character.

 

– Huhuonline

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Nigerian Bank MD’s colluded with government officials to re-loot recovered Abacha loot – EFCC

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The Economic and Financial Crimes Commission has accused commercial banks of colluding with government officials to re-loot recovered loot of the late dictator, Sani Abacha.

In December 2017, the Federal Government signed a Memorandum of Understanding with Switzerland on the return and monitoring of the $322 million Abacha loot.

The proceeds were intended for Conditional Cash Transfer under the Social Investment Programme which began in December 2016, under ex-president Muhammadu Buhari’s administration.

The looted funds were meant to provide N5,000 monthly stipends to the most vulnerable Nigerians across the country.

However, on Sunday, a spokesperson for the EFCC, Dele Oyewale, in a statement, said that the anti-graft agency opened investigations into other alleged financial malpractices from the ministry; involving the COVID-19 funds and the World Bank- assisted loan coordinated by the Humanitarian Ministry to assist poor Nigerians.

The EFCC said, “Discreet investigations by the EFCC have opened other fraudulent dealings involving COVID -19 funds, the World Bank loan, Abacha recovered loot released to the ministry by the Federal Government to execute its poverty alleviation mandate. Investigations have also linked several interdicted and suspended officials of the ministry to the alleged financial malfeasance.

“It is instructive to stress that the commission’s investigations are not about individuals. The EFCC is investigating a system and intricate web of fraudulent practices. Banks involved in the alleged fraud are being investigated. Managing directors of the indicted banks have made useful statements to investigators digging into the infractions. Those found wanting will be prosecuted accordingly. Additionally, the EFCC has not cleared anyone allegedly involved in the fraud. Investigations are ongoing and advancing steadily. The public is enjoined to ignore any claim to the contrary.’’

The commission also revealed that N32.7 billion and $445,000 had been recovered from both past and suspended officials of the humanitarian ministry.

It added that the commission initiated investigations into the affairs of the humanitarian ministry inviting former minister, Sadiya Umar-Farouq, and her successor, Beta Edu, suspended by President Bola Tinubu in January for alleged abuse of office.

 

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EFCC recovers N32.7bn, $445,000, faults Betta Edu, Sadiya Umar-Farouq, Halima Shehu

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The Economic and Financial Crimes Commission, EFCC has faulted suspended Humanitarian Minister, Betta Edu, her predecessor, Sadiya Umar-Farouq, and the Coordinator of the National Social Insurance Programmes Agency, Halima Shehu, while revealing that a combined total of N32.7bn and $445,000 has been recovered so far from ministry.

The commission made the development known on Sunday via its official X handle in response to rumours concerning the progress of its investigations into the alleged financial misappropriation in the Ministry of Humanitarian Affairs, Disaster Management and Social Development.

The statement signed by the spokesperson for the EFCC, Dele Oyewale, read, “The Economic and Financial Crimes Commission, EFCC, has noticed the rising tide of commentaries, opinions, assumptions and insinuations concerning its progressive investigations into the alleged financial misappropriation in the Ministry of Humanitarian Affairs, Disaster Management and Social Development.

“At the outset of investigations, past and suspended officials of the Humanitarian Ministry were invited by the Commission and investigations into the alleged fraud involving them have yielded the recovery of N32.7billion and $445,000 so far.

“Discreet investigations by the EFCC have opened other fraudulent dealings involving Covid -19 funds, the World Bank loan, Abacha recovered loot released to the Ministry by the Federal Government to execute its poverty alleviation mandate. Investigations have also linked several interdicted and suspended officials of the Ministry to the alleged financial malfeasance.

“It is instructive to stress that the Commission’s investigations are not about individuals. The EFCC is investigating a system and intricate web of fraudulent practices. Banks involved in the alleged fraud are being investigated. Managing Directors of the indicted banks have made useful statements to investigators digging into the infractions. Those found wanting will be prosecuted accordingly.

Additionally, the EFCC has not cleared anyone allegedly involved in the fraud. Investigations are ongoing and advancing steadily. The public is enjoined to ignore any claim to the contrary.

“On the issue of the works of the Commission against Naira abuse, dollarization of the economy and the enforcement of all extant laws relating to them, the EFCC appreciates the avalanche of public awakening, support and involvement demonstrated so far. Increasingly, members of the public are drawing the attention of the Commission to video recording of abuse of the Naira by Nigerians from all walks of life. These gestures amply demonstrate rising consciousness of the public to the sanctity of our national currency and the need for collaborative engagement to sustain the tempo.

“To this end, the Commission will always investigate and prosecute anyone involved in the abuse of the Naira. Old videos being exhumed and flying around for the attention of the Commission are noted as the Commission is sensitive to the fact that its Special Task Force against Naira Abuse and Dollarization of the economy commenced operations on February 7, 2024. However, going forward, new videos of such infractions will be investigated and prosecuted.

At the moment, the Commission is investigating several celebrities involved in Naira abuse. Many of them have made useful statements to the Commission and many more have been invited by investigators working on the matter. The EFCC will not relent in its no-sacred-cow mode of operations and the public should be wary of running afoul of laws against the crime.”

 

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CAC Places First Bank Records On Caveat Over Litigation

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The Corporate Affairs Commission, CAC, has placed the records of First Bank of Nigeria (FBN) Holdings on caveat pending the resolution of the crisis rocking…

The Corporate Affairs Commission, CAC, has placed the records of First Bank of Nigeria (FBN) Holdings on caveat pending the resolution of the crisis rocking the board of the bank as a result of multiple court cases filed by aggrieved directors.

The crisis rocking the bank stemmed from protests by shareholders who were kicking against the bank’s internal governance and shareholding structure, as a result of which some of them have taken their grievances to the court.

One of such is the case of Olusegun Samuel Onagoruwa v. FBN Holdings Plc in Suit No. FHC/L/CP/1271/2022), which is challenging the capacity of the Board of Directors of FBN to appoint new persons to fill vacant slots.

Onagoruwa in his suit is seeking “an order setting aside, nullifying, annulling and/or quashing the appointments and approvals of Mr. Olusola Adeeyo, Mr. Viswanathan Shankar, Mrs. Remilekun Adetola, Mr. Anil Dua and Mrs. Fatima Ibrahim as Non-Executive Directors of First Bank of Nigeria Limited made on the 20th day of March, 2024, by FBN Holdings PLC during the pendency of this action and in defiance of the subsisting order of this Honourable Court made on the 15th day of July, 2022.”

The motion also seeks an order restraining the above-named non-executive directors from acting or taking any steps as non-executive directors of the bank.

The current court case follows similar four other cases pending at the Federal High Court in Lagos and Abuja challenging the internal governance of FBN Limited, in addition to existing court injunctions restraining the bank from holding the last two Annual General Meetings which the bank went ahead to hold.

In a new twist to the crisis, the Corporate Affairs Commission in a letter entitled.

“Re: notification of pendency of suit no. fhc/l/cp/1575/23 against FBN holdings plc, and subsisting interim orders of the Federal High Court made on the 9th day of August 2023 restraining FBN holdings plc from holding or proceeding with its annual general meeting purportedly held on the 13th day of August 2023”, weighed in on litigations threatening to tear the old generation bank apart.

Signed on behalf of the Registrar General of CAC by Chidimma Maureen Nwite, the Commission in a letter to lawyers to some of the parties in court against FBN Holdings said: “This is to inform you that the record of FBN Holdings PLC RC: 916455 has been placed on caveat pending the determination of Suit No. FHC/L/CS/1575/2023.”

A shareholder, Mr. Olalekan Babalola, said “it is imperative for the authorities to find a solution to this lingering crisis as Nigeria cannot afford another major bank’s collapse at this critical time

He called for urgent resolution of all court cases in the overall interest of depositors, shareholders and other stakeholders of the bank before further damage is done to the oldest Nigerian bank.

 

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