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How N25bn Refund Pitches Ubah Against Governor Obiano

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The N25 billion refunded to the Anambra State Government by the Federal Government for repayment of rehabilitation and reconstruction of Federal roads has pitched Senator Ifeanyi Ubah (Anambra South) against Governor Willie Obiano.

Ubah at a press briefing on Sunday gave Obiano 72- hour ultimatum to address Anambra on why he had to discount the promissory notes with about N8billion or two-third of the money ahead of their maturity dates.

He threatened to institute a legal action against the Anambra State Government if Governor Obiano fails to heed his request.

The promissory notes were issued to the Anambra State Government by the Debt Management Office in 2018 and 2019.

The refund was made to the state through two separate promissory notes issued by the Debt Management Office (DMO) in December 2018 and April, 2019, to the tune of N10.097 billion and N15.146 billion respectively

The two Promissory notes had maturity dates of December 28, 2020 and April 1, 2022 respectively.

Commissioner for Information and Public Enlightenment, Mr. C-Don Adinuba, had in a statement denied that the State Government raised money from “the Debt Management Office or the Federal Ministry of Finance under a bond, or any financial instrument from any institution or organisation.

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“Our record of prudent financial management and integrity is well acknowledged far and near. It is tough to speculate how the senator came about the phantom N25billion bond which Anambra State purportedly raised surreptitiously from the DMO/Federal Ministry of Finance.”

However, Senator Ubah, who was armed with documents concerning the transaction from the DMO and signed by its Director General, Patience Oniha and the Minister of Finance, Zainab Ahmed, insisted that the N25billion was expected to be paid in two installments.

He lamented out of the N25billion, only N16.1billion was realised by the state government after the promissory notes were discounted at the rate of 15 per cent and 13 per cent respectively, by Governor Obiano through a commercial bank.

He said the state lost whopping N8.85billion after the promissory notes were acquired at discounted rates by the bank.

“The governor paid banks over N8billion in order to cash out the promissory notes before their maturity dates, thereby ensuring that Anambra lost the amount from the transactions,” Ubah said.

According to the documents obtained from the DMO by Senator Ubah, the amount and tenor of the first promissory note was N10, 097, 722, 436.90 and issued to the state government on December 28, 2018 with a maturity date of December28, 2020.

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The second promissory note of N15,146, 583, 655.00 was issued by the DMO on April 1, 2019 with a maturity date of April 1, 2022.

The letter from the DMO to Senator Ubah with reference number DMO/PMD/598/S.4/III/881 and dated November 16, 2020, reads in part: “The Distinguished Senator may wish to be informed that these were the only promissory notes issued to Anambra State Government which fully settled the outstanding claims of the state as approved by the Federal Executive Council and the National Assembly.”

But Senator Ubah further alleged that “in order for Governor Obiano to cash out on the N25billion that hasn’t matured, he had to terminate the deal by giving up 15 per cent and 13 per cent respectively of the total sums per annum.”

He added: “The Governor paid about N3billion in bank charges for N10billion on the first promissory note which has a tenor of two years and paid another N4.5billion on the second promissory note of N15billion which has a tenor of three years.”

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The lawmaker, however, vowed to petition the Anambra State House of Assembly after which he would sue the Governor should he fail to explain to the people of Anambra State why he threw away N8billion in his rush to cash out the money before the respective maturity dates.

He, however, wondered why the governor failed to capture the money realized from the promissory notes in the state’s annual budgets.

He called on the Governor to explain what he did with the N16billion he collected after making the state to lose whooping N8billion as discounts as well as why he allegedly lied through his commissioner about the funds.

He insisted that the road projects for which the N25billion was refunded by the Federal Government were executed by the administrations of Governors Chris Ngige and Peter Obi.

Senator Ubah also alleged that Governor Obiano has prevailed on the Federal Commissioner for Works in the state to stop him from rehabilitating some bad roads in his constituency even as the governor has continued to neglect the roads.

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‘Reckless statement’ — APC knocks Fubara for saying Rivers assembly members don’t exist

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The All Progressives Congress (APC) says a statement by Siminalayi Fubara, governor of Rivers, that the members of the state’s house of assembly do not exist, was reckless.

 

On Monday, Fubara said the existence of members of the Rivers state house of assembly is based on his recognition.

 

In the past few months, Fubara and members of the Rivers state assembly have been at loggerheads.

 

The rift between the governor and Nyesom Wike, minister of the federal capital territory (FCT), has led members of the Rivers assembly to take sides.

 

In a statement on Friday, Felix Morka, spokesperson of the APC, said the state house of assembly is a creation of the constitution.

 

“Governor Fubara’s declaration that the Rivers State House of Assembly does not exist is not only reckless, it is a direct affront to the Constitution of the Federal Republic of Nigeria,” the statement reads.

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“The House of Assembly is a creation of the Constitution, and vested with the legislative authority of the state.

 

“The members of the Assembly were elected by the good people of Rivers state in the same manner that Fubara was elected Governor.

 

“The Assembly does not exist at the Governor’s pleasure or fanciful whims. The legislature is at the core of the idea of democracy. It is co-equal with the executive and judicial arms of government.

 

“The constitutionally entrenched principle of separation of powers among the three arms of government guarantees essential checks and balances required to ensure observance of the rule of law. The rule of law is indispensable to democracy and constitutional order.

 

“If his declaration that the House of Assembly is nonexistent is based on the fact that the 27 members who decamped from PDP to APC have lost their seats, then Governor Fubara is sorely misled.”

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Morka said the alleged attack by Fubara on the house of assembly and its leadership is disrespectful to the order of a court.

 

“Governor Fubara’s quest to repudiate the Constitution and govern in denial of the existence of the state legislature is, in and of itself, among other grounds, an impeachable offence,” he said.

 

“We strongly counsel Governor Fubara to submit himself to the dictates of the constitution and the rule of law.”

 

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Court stops PDP from removing Damagum as acting chairman

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A federal high court in Abuja has restrained the Peoples Democratic Party (PDP) from replacing Umar Damagum as the acting chairman.

 

The suit, marked FCH/ABJ/CS/579/2024, was filed by Umar El-Gash Maina and Zanna Mustapha Gaddama on May 2.

 

The respondents in the suit are the PDP, the national working committee (NWC), the national executive committee (NEC), the PDP board of trustees (BoT), and the Independent National Electoral Commission (INEC).

 

Delivering a ruling on the motion ex parte on May 3, Peter Lifu, the presiding judge, made an interim order restraining the respondents from nominating anybody to replace Damagum as acting national chairman of the PDP, pending the determination of the motion on notice.

 

The defendants/respondents are hereby restrained in the interim from appointing, selecting, or nominating any person to replace Amb. Umar Illiya Damagum as national chairman or acting national chairman of the 1st defendant/respondent pending the hearing and determination of the motion on notice already filed, which is herein fixed against the 14th of May, 2024,” the judge ruled.

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“The defendants/respondents, by themselves, agents, privies, or by any proxy, are hereby in the interim restrained from, according to recognition, any person other than Amb. Umar Illiya Damagum as acting national chairman of the 1st defendants/respondents or giving effect to or acting upon any document purporting to be signed by the national chairman or acting national chairman of the 1st defendant without the name and signature of Amb. Umar Illiya Damagum pending the hearing and determination of the motion on notice already filed in court in the instant suit.

 

“The applicants are herein ordered to enter into a fresh undertaking to pay damages to the respondents (to be assessed by the court) if, at the end of the day, it is discovered that this order ought not to have been granted or that the honourable court was misled into granting the same.”

 

The court adjourned the case to May 14 for a hearing of the motion on notice.

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Damagum became acting chairman of the PDP following the suspension of Iyorchia Ayu in March 2023.

 

Before the NEC meeting in April, PDP members loyal to Atiku Abubakar, the former vice-president, had moved against Damagum over allegations that he was working for Nyesom Wike, minister of the federal capital territory (FCT).

 

Those demanding Damagum’s resignation also argued that there was a need for someone from the north-central to take over and complete Ayu’s tenure.

 

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There were lots of manipulations, fraudulent approvals under Buhari, says ex-minister, Shittu

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A former Minister of Communication Adebayo Shittu claims that there were manipulations and fraudulent approvals under the immediate past government of ex-President Muhammadu Buhari.

 

Shittu served as a minister under the Buhari government but believed many persons close to the former Nigerian president manipulated things to their favour, plunging the country’s economy into a downward slide.

 

“Let me tell you, there were a lot of manipulations and we even heard that a lot of the so-called approvals did not emanate from President Buhari,” he said on Tuesday’s edition of Channels Television’s Sunrise Daily while responding to comments that the previous government was printing money to run the economy.

 

“There were a lot of manipulations and fraudulent approvals which did not emanate from the President.”

 

“I am telling you confidently that a lot of it did not get his attention,” he insisted. “There were a lot of people around the President who exploited their relationship with the President and conspired with the then-CBN governor.

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Approvals Without Signatures

Shittu’s claims corroborated that of presidential spokesman Ajuri Ngelale who said many approvals for releasing funds within the Central Bank of Nigeria (CBN) under Godwin Emefiele did not have Buhari’s signature.

 

“President Bola Tinubu has come out several times in fairness to him (Buhari), to say, ‘Look, this is what happened under the previous administration’. I think we have to acknowledge the fact that he (Tinubu) understands more than anyone that many of the approvals within the CBN that brought us to this point have no signature to President Muhammadu Buhari and had no knowledge of President Muhammadu Buhari,” Ngelale said.

Ex-President Goodluck Jonathan appointed Emefiele as the CBN governor. However upon assumption of office in 2015, Buhari retained him as the apex bank boss.

 

He, was, however, removed in June and is being tried for charges bordering on corruption.

Shittu therefore wants Nigeria’s anti-corruption agency the Economic and Financial Crimes Commission (EFCC) to wade into the matter and “probe properly”.

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“I hope the EFCC will probe properly as to how these things happen without the President knowing,” Shittu said.

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