Connect with us

Uncategorized

Who Benefits From Sensationalising Funke Osibodu’s Arrest?

Published

2 years ago

on

Days back, Nigerians learnt of a viral video purporting that Funke Osibodu, the Managing Director of Benin Electrical Distribution Company (BEDC), had been arrested and taken to Abuja by a special squad.

In the video, the woman was said to have been arrested following a strongly worded petition bordering on several allegations most importantly, trespass of BEDC’s premises and threat to life.

However, in her reaction to the seemingly syndicated video, Osibodu did not only refute the false report, but raised an alarm over alleged threat to her life.

According to her, policemen broke into her office at the company’s head office in Benin City, Edo State. Narrating her ordeal in the hands of the police operatives, Osibodu said;

“On Monday, some persons came here with guns and said they were police from Abuja. They (police) forced themselves into the compound, arrested the security men here and broke into my office.

“The police asked me to follow them to the police headquarters. I followed them.

“When I got to the station, they told me there’s a petition against me, indicating that I was trespassing in BEDC, in addition to threat to life.

They took my statement and I showed them the court documents.

“Somebody marched into the building to say I have been asked to takeover. If there’s a threat to life. It’s to my life,” Osibodu said.

While the brain behind the false reports and video syndication is yet to be determined, there is currently no love lost between BEDC and Fidelity Bank Plc.

Clarifying rumours surrounding her arrest by police from Abuja, she said that she was taken to the police headquarters in Benin for questioning and that when police discovered the law was on her side they couldn’t do anything.

“The police who claimed they came from Abuja said I have committed fraud, threat to life of Ajagawa (supposed MD), unlawful restrain and trespass. They took me to the police headquarters in Benin for questioning”.

She said after showing the police the restraining court injunction of July 8, from Abuja Federal High Court against Ajagbawa and his group, the police couldn’t do anything.

Osibudu said “till date I have not received any official document from the BPE or BEDC board mandating anybody to take over BEDC affairs from me but somebody just marched to the office and said, I have been asked to take over, this is not law.

“From the record, there is no official document, written to the board of BEDC that I have been removed, but what we see was in pages of newspaper that we have been removed and that is not how law works”.

She alleged that somebody is using his office to suppress the rule of law, adding because they didn’t succeed in the initial take over, they resorted to self help through any means.

Recall that the financial institution has been on the forefront of a forceful takeover of the energy distribution company.

Trouble started when the financial institution reportedly activated a call on the collateralised shares of BEDC Electricity over alleged inability to repay loans obtained to acquire majority stakes in the DisCos in 2013.

The move by the bank was rebuffed by the BEDC management who maintained that “Vigeo Holdings Limited (VHL – a non-shareholder of BEDC) obtained credit facilities from Stanbic IBTC Bank Limited, Fidelity Bank Plc, and Keystone Bank Plc, adding that “it is the core investor, Vigeo power that has 60 percent share in BEDC”.

Also, BEDC continues to insist that a valid court order dated 8 July, 2022, restrains Fidelity Bank, one Henry Ajagbawa, the Nigeria Electricity Regulatory Commission (NERC), Bureau of Public Enterprise and others from taking over BEDC’s management.

Meanwhile, Osibodu has revealed that the company recorded a N750 million loss in revenue collection within one month after the “forceful takeover of the company.

I’m her words, “During the period when we were away for one month [takeover], this company lost N750 million. The collection level went down. And if you don’t pay the people selling power, we will not get enough power because we are just distributors.”

Amidst the damning.smear campaign is the question of why the financial institution would continue to disturb the operation of the distribution company and at the same time ask it to pay up it’s loan.

If indeed, BEDC lost N750 million in one month as stated by Osibodu, it is only a matter of time before it pays off it loans, especially as it’s remains a commercially viable organisation. So, why can’t it’s creditors restructure the loan?

Amidst it all is a salient question, who stands to benefit from embarrassing Osibodu the most?

-Ese Igbinedion, a social crusader and commentator writes from Benin, Edo State.

 

Related Topics:
Continue Reading
Advertisement

Uncategorized

Ex Governor Abdullahi Ganduje, Wife, others To Be Arraigned April 17 Over Dollar Video…..

Published

1 week ago

on

April 10, 2024

By

The Kano High Court is set to arraign Kano State’s immediate previous governor, Abdullahi Ganduje, on April 17, 2024, on charges of bribery, diversion, and theft of money, including the alleged acceptance of $413,000 and N1.38 billion in bribes.

Haruna Dederi, Kano State Attorney General and Commissioner of Justice, confirmed the situation, saying Ganduje would be charged with his wife and six others.

The accused individuals named in the summons are Abdullahi Umar Ganduje, Hafsat Umar, Abubakar Bawuro, Umar Abdullahi Umar, Jibrilla Muhammad, Lamash Properties Ltd, Safari Textiles Ltd, and Lesage General Enterprises.

The Kano State Government, which initiated the criminal suit against the eight respondents, has declared its readiness to present 15 witnesses to testify before Justice Usman Na’aba of State High Court number four.

“It is very true. We have filed the case and it’s going to hold on the 17th of April, 2024. What I cannot confirm is whether he is served or not, but he will definitely be served,” he said.

Dederi further highlighted the significance of accountability in governance, remarking, “What he (Ganduje) doesn’t understand is that you cannot run away from the evil day, it will definitely come to you, and this will even serve as a deterrence to all of us that are also in government now.”

The commissioner also addressed the jurisdictional aspect of the case, asserting,
“He was saying that we can’t prosecute him, forgetting that the offence also falls under the category of the state offences,” he said.

“It’s not totally a federal affair and we have even appealed to Justice Liman ruling on that.”

Continue Reading

Uncategorized

Just In: Emefiele arrives Lagos court for arraignment

Published

2 weeks ago

on

April 8, 2024

By

The embattled former Central Bank of Nigeria Governor, Godwin Emefiele, has arrived at the Ikeja State High Court in Lagos for
his arraignment over alleged abuse of office and allocation of billions of dollars.

Emefiele, alongside his co-defendant, one Henry Isioma Omole, will be arraigned on fresh 26 counts before Justice Rahman Oshodi this morning.

In the charge marked ID/23787c/2024 and dated April 3, 2024, the EFCC alleged that Emefiele abused his office between 2022 and 2023 in Lagos.

The commission alleged that the former CBN governor “directed to be done in abuse of the authority of your office, as the Governor, Central Bank of Nigeria, an arbitrary act, to wit: allocating foreign exchange in the aggregate sum of $2,136,391,737.33 without bids, which act is prejudicial to the rights of Nigerians.”

Details later…

Continue Reading

Society

Look Beyond Sentiments, Fagade Urges Critics of Tinubu’s Appointments… Congratulates FIRS Boss, Zacch Adedeji

Published

6 months ago

on

November 1, 2023

By

 

Businessman and chieftain of the All Progressives Congress (APC) in Oyo state, Chief Abisoye Fagade has told those accusing President Bola Ahmed Tinubu of nepotism to jettison primordial sentiments, vindictiveness and bitterness with a view to supporting the current administration in its drive to take Nigeria out of the doldrums.

Fagade’s submission came against the background of insinuations from some quarters that appointments made so far by President Bola Tinubu was skewed in favour of the Yoruba ethnic group or people in the south western part of the country even though there have been counter reactions from eminent personalities from all parts of the country that the accusation of nepotism against Mr. President was unfounded and invalid.

In a statement issued on Wednesday and made available to journalists in Ibadan, Fagade described the Tuesday confirmation of Dr. Zacch Adedeji as the substantive chairman of the Federal Inland Revenue Service (FIRS) by the Nigerian Senate as “a step in the right direction taken to facilitate the quick realization of economic recovery agenda of the Tinubu administration.

“The appointment of Dr. Adedeji as the FIRS boss as well as other cerebral financial and economic management experts to man one key post or the other in the current administration will no doubt yield the desired results as Nigerians should expect economic rejuvenation, wealth creation and naira stability in no time. Governance is no tea party and one fundamental thing in the life of any government is having the right peg in the right hole and not the other way round.

“It is essential we congratulate our own Zacch Adedeji on the confirmation of his appointment as the FIRS boss by the Nigerian Senate in view of the fact that our confidence and trust in him as a competent administrator, seasoned financial expert and unique patriot remain constant. There are high expectations about Nigerian economy being diversified for obvious reasons by the Tinubu administration and we believe with the likes of Adedeji in FIRS, the goal would be achieved sooner than later.

“Above all, we appeal to all stakeholders in the affairs of our dear country to always eschew jingoism, ethnic biases or religious consideration on any matter relating to the interest of the most populous black nation in the world. The time to fix Nigeria is now and with the person of President Tinubu at the helms of affairs, the massive turnaround desired in our socio-economic and political architecture would begin to materialize very soon and it would not only be consolidated but also sustained for the collective benefits of all and sundry”. Fagade stated.

Continue Reading

Trending