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NIPOST Restructuring Plan In Turmoil Amid N10bn Scandal

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The Senate has initiated an investigation regarding the allocation of N10 billion in restructuring funds from the Federal Ministry of Finance to NIPOST.

This is in response to irregularities found within NIPOST’s subsidiaries – NIPOST Properties and Development Company, and NIPOST Transport and Logistics Services Limited.

The Red Chamber, in its December 30, 2023 resolution, brought to light an alleged illegal transfer of federal government shares in two NIPOST subsidiaries to private individuals. This discovery caused uproar among lawmakers, prompting immediate calls for action.

Upon investigation by The Nation, it was uncovered that certain individuals in influential positions within the Bureau of Public Enterprises (BPE) and NIPOST were listed as shareholders of these two NIPOST subsidiaries.

Corporate Affairs Commission (CAC) records as of November 8, 2023, confirm the significant ownership of shares by top BPE officials in the subsidiaries.

On December 30 last year, in response to these revelations, the Senate took action by passing a resolution. This resolution deemed the identified NIPOST subsidiaries as “irregular and illegal,” proposing their immediate closure and deregistration.

Furthermore, the Senate resolution extended beyond immediate measures, demanding a thorough investigation into the N10 billion designated by the Ministry of Finance for NIPOST’s restructuring and recapitalization.

In the event of evidence indicating “injudicious utilization,” the Senate mandated the responsible committee to recover the entire sum.

The resolution reads: “The sum of N10 billion released by the Ministry of Finance for the proposed NIPOST restructuring and recapitalisation be investigated and the funds fully recovered if established to be injudiciously utilised by the relevant committee of the Assembly charged with the responsibility of fiscal prudence.”

 

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Old Video Of Wike Campaigning Against Godfather Syndrome Resurfaces

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A damning video clip has resurfaced, showing former Rivers State governor Nyesom Wike vehemently opposing the godfather syndrome in politics.

The clip, which is currently circulating on social media, reveals Wike’s stance on the issue, stating that the godfather syndrome will not be tolerated in Rivers State.

In the video, Wike, who is currently serving as the Minister of the Federal Capital Territory, FCT, explicitly states that the system of godfatherism may be prevalent in other states like Lagos, but it will not happen in Rivers.

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He emphasizes that he cannot perpetuate the system even if he wants to, and that it is not possible for one individual to dictate the political landscape of the state.

He said, “It may happen in Lagos State but it cannot happen in Rivers, we are quite different. As a governor, I will come and go and I can’t stop it.

“The day that my tenure ends, by the grace of God, I will go. When you are thinking that what is happening in Lagos State, we will do it here, it may be difficult.

“You can’t continue to say that you must be a godfather of a state. That is the problem and it is not possible.

However, the irony of Wike’s statement is not lost on many, as Rivers State is currently embroiled in one of the worst political crises in the country.

wike and incumbent Governor Siminalayi Fubara are locked in a bitter struggle for control of the state’s leadership structure, with both sides trading blows and accusations.

The crisis has divided Rivers State along ethnic and political lines, with various groups issuing threats and warnings.

The Ijaw Youth Council and the Ijaw National Congress have warned that any attempt to remove Fubara from office will be seen as an attack on the Ijaw nation.

As the situation in Rivers State continues to unfold, the resurfaced video clip has raised questions about Wike’s commitment to his earlier stance on godfatherism.

 

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JUST IN: Explosion Hits APC Secretariat In Rivers State

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An explosion rocked the All Progressives Congress (APC) secretariat in Port Harcourt, Rivers State, on Saturday, causing significant damage to the building and its surroundings .

The blast, suspected to have been caused by dynamite, shattered the secretariat’s gate, doors, and windows, and also destroyed other properties.

This is the second attack on the APC secretariat this year, and it comes at a time when the local government elections are set to hold in the state.

Read Also: Emefiele’s Naira Redesign: Witness Uncovers Alleged Missteps, Political Influences

The Rivers State Independent Electoral Commission has confirmed that all sensitive materials have been distributed to the various local government area.

A viral video of the incident has been circulating, showing workers assessing the damage to the secretariat.

The police have not yet commented on the incident, but the spokesperson for the state police command, Grace Iringe-Koko, has promised to investigate and provide updates.

The APC has not made any official statement on the incident, but the attack has raised concerns about the safety and security of political parties and their properties in the state.

The incident is currently under investigation, and more details are expected to emerge in the coming days.

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Police Raid Notorious IPOB Camp, Rescue Traditional Ruler, Others

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The Anti Kidnapping Unit of the Imo State Police Command, in collaboration with other security agencies, has successfully raided a notorious camp linked to the Eastern Security Network (ESN) and the Indigenous People of Biafra (IPOB) in the Ezioha forest of Mbaitoli local government area.

The operation, which took place on Friday, resulted in the rescue of several kidnap victims, including a 69-year-old traditional ruler from the Umuorji Mgbidi community in Oru West local government.

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According to Henry Okoye, the Command Public Relations Officer, the operation was initiated following intelligence reports about the camp’s activities.

Upon arrival, security operatives engaged in a fierce gun battle with the armed group, which led to the neutralization of the gang leader, identified as a key figure in recent kidnappings that have plagued the state.

Other members of the gang fled the scene, reportedly suffering from bullet wounds.

In addition to the rescue of the traditional ruler, a couple and several other individuals held captive were freed during the operation.

Law enforcement officials recovered a range of items from the camp, including several vehicles, a pump-action gun, ten live cartridges, four locally made explosives, a Biafra flag, and a native bulletproof vest.

The Imo State Police Command has reiterated its commitment to combating kidnapping and criminal activities in the region, urging citizens to remain vigilant and report suspicious activities.

 

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