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Meet Wealthy Investors keeping Nigerians In Perpetual Darkness (Part 1)

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Power outages in Nigeria have certainly become a part of our everyday life, going by how long we have had to grapple with the situation. Unless something drastic is done, this abnormal phenomenon is not likely to end any time soon. However, in the past few months, the outages have assumed an embarrassingly high and alarming dimension with the power grid breaking down more frequently than it has ever happened over the past few years and plunging the nation in darkness for days, weeks and even months at a stretch in some parts of the country.

Worse still, the Minister of Power, Abubakar Aliyu, the Electricity Generating Companies and the Power Distribution Companies are trading blames over the situation. No one is willing to accept responsibility for the persistent power outages. Not even the Federal Government is willing to sanction these DISCOs and GENCOs or issue them ultimatums to do what they are meant to do. As with most issues in Nigeria, it has been business as usual. THEWILL has therefore compiled a list of wealthy investors who own electricity assets in Nigeria, so that people will know who to channel their displeasure at with hopes that they will eventually do the needful.

Femi Otedola

The billionaire investor is the major promoter of Amperion Power Distribution Limited (Geregu Power Plant) as chairman with Akin Akinfemiwa as the Chief Executive Officer.

Brigadier-General Tunde Ogbeha (retd.)

Although he is only a director in Mainstream Energy Solutions Limited in charge of Kainji Hydro Electric Plant and Jebba Hydro Station, Col. Sani Bello is the Chairman, while Alhaji Ismaila Isa is the Vice Chairman.

Engr Olubunmi Peters

He is the major investor in North South Power Company Limited in charge of Shiroro Power Station.

Tonye Cole

Although Tonye Cole is regarded as the face of KEPCO Energy Resources Limited in charge of Egbin Power Station, he however runs it with his partner, Tope Shonubi. They also invested in NEDC/KEPCO Consortium in charge of Ikeja Electricity Distribution Company with Kola Adesina as the Chairman. While the former is a power generating company, the latter is a power distribution company. Both Tonye and Tope are known for their popular oil and gas company, Sahara Energy.

Victor Osibodu

The embattled business man, who is fighting to keep his prized homes from being taken from him by Ecobank over alleged debts to the tune of $19m, is the Chairman of Vigeo Power Limited in charge of Benin Electricity Distribution Company. His wife, Funke Osibodu, a former Managing Director of Ecobank and Union Bank, is the Chief Executive Officer.

Alhaji Shehu Malami

He is the chairman of KANN Utility Consortium Company Limited in charge of Abuja Electricity Distribution Company. Neil Croucher, a Briton, is his Chief Executive Officer.

Alhaji Umaru Abdul Mutallab

The businessman and financier whose son, Umar Farouk, aka Underwear Bomber, is serving four life jail sentences and an additional 50 years in a US prison for attempting to detonate plastic explosives hidden in his underwear on board a US flight, is the chairman of Sahelian Power SPV Limited in charge of Kano Electricity Distribution Company. Alhaji Yusuf Hamisu Abubakar is the Chief Executive Officer of the power distribution company.

Augustine Nwokocha

He is the Chairman of 4Power Consortium Limited alongside the governors of Bayelsa, Cross River, Akwa Ibom and Rivers States. The distribution company is in charge of the Port Harcourt Electricity Distribution Company.

Tunde Ayeni

He is the Vice Chairman of and a major investor in Integrated Energy Distributing and Marketing Limited, with Ibadan Electricity Distribution Company and Yola Electricity Distribution Company as the company’s major assets. Although Captain Hosa Okunbo is his co-investor, with his demise, the current state of Okunbo’s investment is uncertain. A smart businessman, Ayeni made General Abdulsalami Abubakar the Chairman of the distribution company, while Dr. Sola Ayandele is the Chief Executive Officer.

Emeka Offor

The diminutive businessman, who has investments in the oil and gas industry, also has his tentacles spread in the power industry with his investment in Interstate Electrics Limited in charge of Enugu Electricity Distribution Company. He is the company’s Chairman.

Ernest Orji, Dere Otubu, Charles Momoh, Tunji Olowolafe & George Etomi

Although Ernest Orji is a director in West Power and Gas Limited in charge of Eko Electricity Distribution Company, he is a well known investor and businessman in corporate circles. He is the promoter of Southern Sun Hotel and was a non executive director in Finbank.

Charles Momoh formerly of Addax petroleum and one of the key directors of the company was the pioneer chairman of the distribution company but was recently replaced with Dere Otubu the chairman of Staco Insurance, SIC Property and Investment Company Limited, Staco Prime Capital Limited and Senforce Insurance Brokers.

Tunji Olowolafe, a serial investor and consummate business man, is also a director in the company, while George Etomi, SAN one of Nigeria’s most seasoned power sector and privatization legal experts, is also one of the founding directors in the company.

Alhaji Garba Mohammed Noma

He is the chairman of Aura Energy Limited in charge of Jos Electricity Distribution Company.

 

By; Ivory Nkonu

Society

Reactions as Korra Obidi travels to Hawaii for vacation after fans donated $50,000 for legal fee

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Nigerians across social media have begun to slam popular Nigerian-American singer and dancer, Korra Obidi, as she flew immediately to Hawaii in the United States after completing her GoFundMe $50,000 target.

Obidi created GoFundMe on Friday to seek a good lawyer, adding that she wants to overturn the right of her ex-husband, Justin Dean, over their kids.

According to her, she would need money to get a good lawyer, which is why she created the GoFundMe account to meet the target of $100,000.

The account generated over $50,000 raised from over 950 donors worldwide.

“As a mother, it’s time to fight for myself and my kids,” Obidi said. She also shared her GoFundMe account details, seeking the assistance of fans and friends.

However, on Sunday, the dancer, after raising the money, said during a live session on Facebook that she had plans for a vacation in Hawaii.

Her decision has been greeted by outrage from her fans, with many alleging that the main intent of the GoFundMe was never to file a suit against the husband but to lavish on her extravagant lifestyle.

Wanda Johnson, a Facebook user, said, “She got y’all’s money, now she’s at the airport. Some of you are so weak to believe her foolishness. She is always begging, scamming, and manipulating.”

“You are gradually becoming a professional beggar on social media,” one Chigoziri Ohochukwu on Facebook opined.

“Mad that she can’t post pictures because without posting pictures she can’t make money. She needs to post pictures of her kids to make money. But she would rather go to Hawaii than see.Her children sickening and people gave her $.Or whatever was on that go find me.People needs to report the go fund me everybody needs to report to get their money back,” a user who identifies as Jennifer Lynn Russell claimed.

Nene Peters stated, “WTF you was just on here crying about you need a lawyer now, you traveling. I’m done with you wow.”

“Two days ago she was crying for donation now she is traveling,” said Hermi Matilya

Meanwhile, Bridget O’Connell said, “Yeah I’m not gonna lie Traveling to Hawaii is crazy after receiving all that money for Lawyer girl! You shoulda did that in silence.”

Also, Mary Monique Napont said, “It’s none of your business lady. She is an influencer, performer, student, and most importantly a great mother. Leave her be. You are a part of the problem. She’s not hurting you in any way. If you don’t like her, don’t follow her. It’s that simple.”

Recall that the divorce and custody battle between Obidi and Dean has been on the public scene lately. Recent developments have granted Justin the right to restrict their two children from featuring on Obidi’s online content.

She posted a plea online, accusing Dean of abuse and “gaslighting” during their marriage, claiming he is now subjecting their daughters to similar treatment.

 

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Police declare Lagos socialite wanted for murder, cyber-stalking

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The Nigeria Police Force, on Sunday, declared a Lagos socialite and blogger, Dorcas Adeyinka, wanted for alleged cyber-stalking, abduction and murder, among others.

The police urged members of the public to “arrest and hand over the suspect to the nearest police station or the office of the IGP Monitoring Unit, Force Headquarters, Abuja.”

The police further described Adeyinka as a married female Yoruba blogger from Ekiti State and Ibadan, Oyo State capital.

She is said to be approximately 1.64m tall with an oval face, tribal marks, pointed nose, wide mouth, full and white dentition, and light-skinned with black eyes.

The police added that she lives in the United Kingdom, and frequently visits Ikeja, Ogudu and Fagba in Lagos State, as well as Otta and Sango in Ogun State.

Meanwhile, PUNCH Online had earlier reported that a Chief Magistrate Court in Wuse Zone 6, Abuja, summoned two social media users for defaming Adeyinka by allegedly sharing her nude photo online.

In the court summons dated Thursday, May 9, 2024, which was obtained by our correspondent, Chief Magistrate Emmanuel Iyanna ordered the two defendants – Tolulope Adeoye aka Abike Jagaban, and Tolulope Odegbami aka Olowosibi – to appear in persons before the court on June 4, 2024, to answer the charges levelled against them by the complainant.

The summons followed a criminal complaint filed by the complainant’s lawyers led by Pelumi Olajengbesi of an Abuja-based law firm, Law Corridor.

The socialite accused the defendants of sharing her nude photo on social media and ridiculing her.

The application partly read, “On March 5, 2022, Abike Jagaban shared the complainant’s nude pictures on YouTube, directing her followers to different online platforms where the complainant’s pictures were/are shared and ridiculed the complainant in the process.

“The video was captioned, ‘Abike Jagaban on Dorcas Adeyinka, aka TMS Blog.’ These actions have exposed the complainant to contempt, hatred and detestation as some people can be seen making disparaging remarks against the person of the complainant in the comment section of the above-referenced post. Abike Jagaban has also bullied the complainant in another video titled, ‘How Abike Jagaban bullied Dorcas Adeyinka,” among others.”

The complainant told the court that the alleged actions of the defendants constituted criminal defamation and contravened Section 391 of the Penal Code.

Meanwhile, in suit number CR/93/2024 with motion number MN/140/2024, Magistrate Iyanna ordered the complainant to serve the defendants with the criminal summons and all other subsequent processes of the court via their social media handles or pages @Tolulope Omolara Ghaba (Facebook) and @Princess Tolulope Ajike Olowosibi (Facebook).

The magistrate adjourned the matter till June 4, 2024, and ordered that the two defendants be present in court on the said date.

 

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Even if arrest warrant was illegally obtained, Bello should’ve appeared in court – Judge

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By Taiye Agbaje

 

Abuja, May 10, 2024 (NAN) A Federal High Court, Abuja on Friday granted the application by the Economic and Financial Crimes Commission (EFCC) for the former Governor of Kogi, Alhaji Yahaya Bello, to appear in court for his trial.

 

Justice Emeka Nwite, in a ruling, held that the former governor ought to appeared before the court before making any application.

 

He insisted that even if the arrest warrant was illegally obtained, the defendant (Bello) should have still shown up in court.

 

It would be tracked that the judge had, on April 23, fixed today for the ruling on the former governor’s application to set aside the arrest warrant against him.

 

The EFCC’s lawyer, Rotimi Oyedepo, SAN, had, on April 17, moved the ex-parte application for the arrest warrant.

 

But Bello’s counsel, Adeola Adedipe, SAN, on April 23, prayed the court to set aside the arrest warrant against their client

.

He canvassed that the arrest warrant had become unnecessary since their lead counsel, Abdulwahab Mohammed, SAN, had accepted the service of the charge on behalf of the ex-governor.

 

He argued that the arrest warrant order, having been made before the charge ought to be set aside suo motu (on its own accord, without any request by the parties involved).

 

The senior lawyer argued that contrary to the submission of the lawyer who appeared for EFCC, Kemi Pinheiro, SAN, that the ex-governor must be in court first before any application could be entertained being a criminal case.

 

He said that the anti-graft agency also made an application on April 18 after the warrant arrest was issued to EFCC on April 17 and that the court granted it.

 

The lawyer submitted that the arrest warrant was issued in favour of the EFCC by the court in violation of fair hearing to their client.

 

He noted that the complainant made an application for substituted service on 18th day of April after the arrest warrant had been issued on 17th day of April and today, my noble lord granted it.

 

“The court must satisfy itself that the defendant (Bello) will not be prejudiced in fairness if the warrant of arrest continues to hang on his neck, having been made before service of the charge contrary to Section 394 of ACJA,” Adeola argued.

 

He argued that justice should be a three-way traffic; that is, justice to the prosecution, the defendant and the public.

 

He said for Bello to appear in court, he must have the notion that he would get justice.

 

Adedipe also argued that the EFCC was an unconstitutional body because its establishment was not ratified by the 36 states of the federation.

 

He said that for the EFCC to become a constitutional body, the 36 states of the federation must ratify the law establishing it as against the current position, that the EFCC Establishment Act was unilaterally ratified by the Federal Government.

 

He, therefore, asked the judge to vacate the arrest warrant against the former governor.

 

But Pinheiro vehemently opposed the application.

 

The senior lawyer argued that for the arrest warrant to be vacated, the former governor must be arraigned and take his plea in compliance with Section 396 (2) of the Administration of Criminal Justice Act (ACJA), 2015.

 

Delivering the ruling on Friday, the judge agreed with the argument of the EFCC.

 

He said that the order of court subsisted until it is set aside, even if there is irregularity.

 

The judge said Yahaya Bello’s staying away amounted to disregard to the sanctity of the court.

 

“Therefore, the application by the counsel for the defendant cannot be moved unless the defendant is present in court.

 

“Bello should come to court in his own not through EFCC for arraignment on the next adjourn date,” the judge declared.

 

Meanwhile, shortly after the ruling, Mohammed, who appeared for the former governor, informed the court of a motion on notice filed on May 9.

 

He said the motion prayed the court to stay further hearing of the alleged money laundering suit filed against Bello until the Court of Appeal decides a pending case relating to same matter.

 

The senior lawyer said the anti-graft agency had, by a motion ex-parte, got an order of the Appeal Court stopping the contempt proceedings filed by the ex-governor against the agency at the High Court sitting in Lokoja.

 

He said the appellate court had already fixed May 20 to hear the case.

 

He said it would be important the Federal High Court, Abuja awaits the outcome before going further with the trial.

 

But the EFCC’s lawyer, Oyedepo, disagreed with Mohammed’s submission.

 

In a short ruling, Justice Nwite refused Mohammed’s application.

 

The judge said that the matter had generated controversy all over the world and was unnecessary.

 

Reacting, Mohammed responded that the former governor was not afraid to come to court but was only afraid of his life.

 

Justice Nwite, however, said that Bello should not be misguided but should be advised to come and answer to the alleged charge.

 

“It is just a charge. It has not been proven. Counsel, it is your duty to bring him and you prepare yourselves.

 

“We thank lordship. We will take your admonition to him because that is just his fear,” Mohammed said.

 

He assured that efforts would be made to contact the former govenor to appear in court in the next adjourned date.

 

Justice Nwite consequently adjourned the matter until June 13 for arraignment.(NAN)(www.nannews.ng)

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