Connect with us

NEWS

NIPOST Restructuring Plan In Turmoil Amid N10bn Scandal

Published

on

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.”

 

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

NEWS

Tragic Building Collapse In R/State Leaves One Dead, Several Injured

Published

on

A tragic building collapse in Rivers State has left a middle-aged contractor, identified as Udeme, feared dead after a two-storey structure under construction caved in at the Egbelu Mgbaraja area of Ogbogoro Community, Obio/Akpor Local Government Area.

This incident comes just one week after a three-storey building collapsed at the Iriebe axis of the same local government, though that incident fortunately recorded no casualties.

READ MORE: Fire Ravages Ajah Market In Lagos, Goods Worth Millions Lost

The latest collapse occurred on Monday, November 4, 2024, around 2 p.m., with construction workers on site when the structure gave way.

According to eyewitness Mr. Jonathan Obey, the building’s second floor suddenly buckled, trapping Udeme beneath the rubble, while another worker managed to escape with serious injuries.

Obey, who attempted to rescue the trapped contractor, suspected negligence, saying, “We couldn’t reach him despite our efforts. An inspection revealed substandard materials had been used, with the foundation only three feet deep for a two-storey building, which is insufficient. The rebar was of poor quality, and essential supports, such as a center beam, were absent.”

The Rivers State Government has since sealed off the property and declared the developer, Vincent Nwoye, wanted for questioning.

Rt. Hon. Evans Bipi, Commissioner for Physical Planning and Urban Development, visited the site and expressed his dismay, attributing the collapse to gross negligence.

“This tragedy was preventable,” Bipi stated. “The developer failed to obtain an approved building plan and used inferior materials. The government will ensure accountability and take severe action.”

Bipi extended his condolences to the victim’s family and the Ogbogoro Community, affirming that the government will facilitate the family’s recovery of their loved one’s remains. “We sympathize with the bereaved family and the entire community,” he added.

The Commissioner for Special Duties, Dr. Samuel Anya, also condemned the developer’s actions, highlighting the dangers posed when profit is prioritized over safety. “This loss is a direct consequence of unethical practices,” he said.

The government has committed to a thorough investigation and tighter regulatory enforcement to prevent further tragedies in Rivers State.

 

Continue Reading

NEWS

JUST IN: Justice Adeyeye, Ekiti State’s CJ Passes On

Published

on

 

The Chief Judge of Ekiti State, Hon Justice Oyewole Adeyeye has passed on.

The news of his passing was leaked by a reliable source under the condition of anonymity.

The sad incident, according to the source, happened in Ado Ekiti in the early hours of Tuesday.

His death is being traced to a sickness which came upon him following the injury he sustained when a section of the Ekiti State High Court Complex, Ado Ekiti wall collapsed in July 12, 2023.

ALSO READ: #EndBadGovernance Protests: Tinubu Orders Release Of Detained Minors

The late Justice Adeyeye was at the office when the building collapse happened and sustained injuries.

While the state and his family were yet to issue statements on his demise, the Ekiti State Chapter of the Association of International Female Lawyers (FIDA) has sent condolences to the family.

The condolences message read: “With deep sorrow in our hearts and in total submission to the will of God, FIDA Ekiti consoles with the family of the Chief Judge of Ekiti State, Hon Justice Oyewole Adeyeye on his call to glory.

“May He find rest with his maker.

“I pray that God grants the family, the Judiciary and the people of Ekiti State, the grace to bear this irreparable loss.

Adieu great one.”

Justice Adeyeye was born 1960 in Araromi Ugbesi in Ekiti East Local Government of Ekiti State and was called to bar in 1986.

He started his career as a State Counsel in the civil service of the then Ondo State before joining the Ekiti State Judiciary Service Commission shortly after the state was created in 1996.

He was promoted to the position of a judge in the state’s high court in 2002 and has served at different occasions in the election petition tribunal.

Continue Reading

NEWS

BREAKING: Court Drops Charges Against 76 #EndBadGovernance Protesters

Published

on

A Federal High Court in Abuja has dismissed all charges against 76 individuals accused of participating in the nationwide #EndBadGovernance protests.

The ruling came after the Attorney General of the Federation (AGF), Lateef Fagbemi, moved to discontinue the case under orders from President Bola Tinubu.

READ MORE: N1.3trn Fraud: EFCC Arrests Ex-Delta Gov, Ifeanyi Okowa

Justice Obiora Egwuatu, presiding over the matter, struck out the charges after hearing a motion from the AGF’s representative, Director of Public Prosecution of the Federation (DPPF) Mohammed Abubakar.

Citing Section 174 of the 1999 Constitution, the AGF formally took over the case from the Inspector General of Police, then requested to drop all charges against the defendants, many of whom are minors.

The judge granted the AGF’s application without objection from defense counsel, ordering the immediate release of the accused, who were not present in court.

This decision follows a directive issued on Monday by President Tinubu, instructing the AGF to withdraw charges against the protesters.

 

 

 

 

More to follow………. 

 

Continue Reading

Copyright © 2022. Biztellers, powered by Alphaxristi.