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How Newly Appointed NDDC Managing Director, Ogbuku Was Arrested For Alleged Murder In 2014, Arraigned By Anti-graft Agency, EFCC For Multi-billion Naira Fraud



In 2014, the Managing Director of the Niger Delta Development Commission, Dr Samuel Ogbuku, was arrested for alleged murder by personnel of the Bayelsa State Police Command.

Ogbuku was picked up on April 24 at about 7 p.m. along the Igbogene axis of the state capital, Yenagoa after attending a burial at Otuasega area of Bayelsa.

He was accused of being involved in an assassination attempt on the life of Chief Timi Alaibe, where six persons were killed in Opokuma.

Ogbuku spent many months in detention until he was granted bail by a Bayelsa State High Court.

Documents seen by SaharaReporters also showed that the new NDDC boss was arraigned in 2012 before a Federal High Court sitting in Abuja over alleged N19.2 billion fraud.

Others accused include former governor of Bayelsa State and Minister of State of Petroleum, Timipre Sylva, Francis Okuburo, Gbenga S. Balogun, Marlin Maritime Limited, Eat Catering Services Limited, Haloween Blue Construction and Logistics Limited.

The Economic and Financial Crimes Commission had in a suit numbered HC/ABJ/CR/23/2012, claimed that Ogbuku, Sylva and the others fraudulently obtained N4 billion loans from Union Bank under the guise of using them to augment workers’ salaries.

The EFCC also alleged that the accused persons had in the same period converted properties and resources of the Bayelsa government amounting to N2 billion to personal use, and another N380 million worth of government property through a Fin Bank account with number 221433478108 belonging to one Habibu Maigida, a bureau de change operator on January 22, 2010.

It further said that Sylva, Ogbuku and his accomplices on February 5, 2010, converted N50 million of the state’s funds through a First Bank account with number 6152030001946 of Enson Benmer Ltd.

The EFCC said the offences contravene the provisions of the Money Laundering (Prohibition Act) 2004.

Meanwhile, a Niger Delta group, Niger Delta Rescue Movement has petitioned the Department of State Services over the past records of the new NDDC MD.

“In lieu to the publications and notices that emanated as a result of the NDDC nomination list that was read on the floor of Senate on the 23rd of November, 2022,” the petition signed by Idengimowei Liverpool, secretary of the group read.

“It is no longer in secret that the president has nominated Lauretta Onochie and 15 others to the board of the NDDC with Sammy Ogbuku as managing director nominee. We thank the president for the nomination, but we are raising a serious red flag as to who becomes the managing director of the NDDC, the interventionist agency is saddled with the responsibility of the development of the Niger Delta with so much funds allotted to the agency.

“The position of the managing director should be given to a person who reflects the true spirit of fairness, equity, accountability and transparency at all times and not to a person with corrupt blood flowing through his veins. It is on this premise we want to draw your attention to the reasons why Sammy Ogbuku should not be screened as the managing director nominee of the NDDC.

“In 2012, the EFCC established a two-billion-naira case against Sammy Ogbuku and he was arraigned before a federal high court sitting in Abuja.

“In 2011 Sammy Ogbuku was tied to the assassination attempt on the life of Chief Timi Alaibi where six persons were killed in Opokuma, which led to his detention in prison for months.

“In 2008 Sammy Ogbuku and three (3) others were arrested by the EFCC for the diversion of five hundred million meant for the state security outfit.

“In 2014 Sammy Ogbuku and three (3) others were arrested by the EFCC for using three (3) companies (Marlin Maritime Limited, Eat Catering Services Limited and Haloween-Blue Construction and Logistics Ltd) to Siphon Nineteen Billion, Two Million naira from the Bayelsa State treasury.

“A man with these corruption charges should not be allowed to be managing director. Please use your good office to save our dying Niger Delta region.”


News and Report

Contempt: Again, court commits EFCC boss, Abdulrasheed Bawa, to prison



The Chairman of the Economic and Financial Crimes Commission, Abdulrasheed Bawa, has been committed to prison for allegedly disobeying court order.

The court also directed the Inspector-General of Police, Usman Baba, to effect Bawa’s arrest and remand him in Kuje prison for the next 14 days until he purges himself of the contempt.

Justice R.O. Ayoola of the Kogi State High Court, in his judgement on Monday, granted the application for committal to prison of the EFCC chairman for disobeying a court ruling delivered on November 30, 2022, wherein the EFCC chairman was directed to produce the applicant in the case, Ali Bello.

Ali Bello had dragged Bawa to court for arresting and detaining him illegally, with the court ruling in his favour, only for the EFCC to arraign him for alleged money laundering three days after the ruling.

The EFCC’s applications for setting aside and stay of execution of the ruling were refused for want of merit.

The Court had, in Form 49, Order IX, Rule 13, marked, “HCL/697M/2022” and titled, “Notice to Show Cause Why Order of Committal Should not be Made,” asked the EFCC Chairman to appear before it on January 18, 2022 to explain why he should not be jailed for flouting the order given on December 12, 2022 in a case filed by Ali Bello against the EFCC and Bawa, as the 1st and 2nd respondents, respectively.

The court ordered that the EFCC and Bawa be served the motion of notice together with Form 49 by substituted means.

The court had declared the arrest and detention of the applicant in the face of a subsisting court order made by a court of competent jurisdiction and without a warrant of arrest “or being informed of the offence for which he was arrested” as unlawful, unconstitutional, and in contravention of the personal liberty and dignity of human person guaranteed under Chapter IV of the Constitution of the Federal Republic of Nigeria 1999 (as amended).

The court had also ordered the respondents to tender an apology to the applicant in a national newspaper and awarded N10 million compensation for him.

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News and Report

Fidelity grows profit to N52 billion for FY 2022 




Fidelity Bank Plc has announced an impressive growth in Profit Before Tax to N52 bn for the Full Year 2022. This was made known in the Bank’s unaudited statement of account presented to the Nigerian Exchange (NGX) on Wednesday, 31 January 2023.


According to the regulatory filing, the bank grew Gross Earnings by 33.9% to N335.897 billion (from N250.774 billion in FY 2021) and Net Interest Income by 61.1% to N152.813 billion (from N94.877 billion in FY 2021) leading to a Profit After Tax of N47.163billion for FY 2022 (from N35.579billion in FY 2021).


Similarly, Total Assets for the Bank now stand at N3.999trillion (from N3.289trillion in FY 2021) and Deposit from Customers is now at N2.591trillion (from N2.024trillion in FY 2021).


Analysts posit that this is yet another strong showing for the tier-one bank having sustained impressive performance year-on-year even in the face of the headwinds in the economy. Despite growing its Gross Earnings at an impressive rate, the bank has managed to record one of the lowest Non-Performing Loans (NPL) ratios in the Nigerian banking industry, for instance.

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News and Report

Petition signatures to Emefiele over new naira hit 1653..



Petition signatures to Emefiele over new naira hit 1653


Following the crisis over the non-availability of the redesigned N100, N200, N500 and N1000, over 1653 Nigerians have petitioned the Central Bank Governor, Mr Godwin Emefiele, to end what they termed ‘hardship’ on the citizens.


The petition, hoisted on the global change website,, which was started on Friday, garnered over 1653 signatures on Saturday.


As of the time of filing this report, many bank customers have yet to access the new notes as many automated teller machines are either not dispensing cash or completely shut down because of the crowd.


Protests have erupted over the situation in some parts of the country and some banks vandalised by hoodlums, demanding access to their money lodged in several accounts.




There have also been controversial videos showing bank officials sabotaging the process by hiding the new notes behind old ones in vaults.


The President, Major General Muhammadu Buhari (retd.), has requested seven days from Nigerians to fix the mess.


Part of the petition stated, “The recent shortage of physical cash in Nigeria has caused major untold hardship to Nigerians. People are spending hours in long lines at banks just to withdraw cash, and many are forced to rely more on digital transactions which tend to be unreliable due to poor bank networks.


POS operators also charge outrageous amounts; as much as N1000 for a N10,000 withdrawal. The Central Bank of Nigeria has stated that the shortage is temporary, but it is causing serious disruption to the daily lives of many Nigerians.


“We call on the government, stakeholders, law enforcement agencies and the CBN to take urgent action to address the cash shortage crisis in Nigeria. We demand that the CBN increase the distribution of physical cash to meet the demand, and also any POS operator found charging outrageous amounts for withdrawal should be arrested.’’


Meanwhile, the National Association of Nigerian Students has expressed displeasure over the issue, noting that the process was not only ill-timed but also not well thought out.


Speaking to Sunday PUNCH during a telephone interview on Friday, National Vice President (External Affairs), Akinteye Afeez-Babatunde, said, “The whole situation is crazy. We are tired. Students are crying and complaining. They can’t get cash. The leaders have confirmed to us that they don’t care for the people. The policy is fine but the process to get it done is to the detriment of our own lives as Nigerians. Our day-to-day activities have been disrupted. Nigerians are suffering.’


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