NEWS
Rivers Budget In Limbo Amid Court Confusion
A wave of confusion and political unrest swept through Rivers State on Monday as two Federal High Courts in Abuja issued conflicting orders, deepening the ongoing political crisis.
A federal High Court made a bold move by nullifying the N800.3 billion 2024 Appropriation Bill, previously passed by a faction of the House of Assembly led by former Speaker Edison Ehie and endorsed by Governor Siminalayi Fubara.
Justice James Omotosho, delivering the judgment, declared the budget invalid due to improper presentation and directed Governor Siminalayi Fubara to resubmit it to the Assembly now under the leadership of Mr. Martin Amaewhule.
Additionally, the court officially recognized Amaewhule as the legitimate Speaker of the Rivers State Assembly, adding another layer of complexity to the unfolding legal battle.
The court criticized Governor Fubara for allegedly interfering in the state’s legislative affairs, accusing him of acting like a tyrant by demolishing the Rivers State Assembly complex and withholding funds allocated to the legislative House.
The defendants in the suit included prominent figures such as the National Assembly, Senate President, Deputy Senate President, Senate Majority Leader, Senate Minority Leader, Speaker of the House of Representatives, Deputy Speaker, House Majority Leader, House Minority Leader, and the Clerk to the National Assembly.
Additionally, the governor of Rivers State, Attorney-General of Rivers, Commissioner of Finance, Accountant-General of Rivers, Rivers State Civil Service Commission, Inspector-General of Police, and Edison Ehie were named in the legal proceedings.
In the legal proceedings, the Rivers House of Assembly and its Speaker, Mr. Martin Amaewhule, held the positions of the 1st and 2nd plaintiffs, respectively.
Shortly after, a different court issued an order mandating all parties to uphold the current state of affairs.
This directive, pending the resolution of an ex-parte motion filed by six state elders, seeks to block Governor Fubara from re-presenting the 2024 budget to the Amaewhule-led faction of the Assembly.
Justice J. O. Abdulmalik not only endorsed the order for substituted service of the application on all defendants but also slated a hearing for February 28, injecting a fresh element of legal intricacy into the unfolding narrative.
Led by Mr. Victor Jumbo, a member of the Rivers State House of Assembly representing Bonny State Constituency, the plaintiffs in the case include Senator Bennett Birabi, Senator Andrew Uchendu, Rear Admiral O. Fingesi, Ann Kio Briggs, and Emmanuel Deinma.
Their legal team, headed by Mr. Olukayode Ajulo, SAN, petitioned the court to declare the seats of 27 lawmakers in the state, who defected from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC), as vacant.
In response to Justice Omotosho’s judgment, Anabs Sara-Igbe, a member of the Rivers State Elders Forum and spokesperson for the Pan-Niger Delta Elders Forum (PANDEF), criticized the governor, alleging an inability to effectively counter and protect his political career.
Sara-Igbe said though the judgment was “not a death sentence, he can as well appeal the judgment because it is not in his political interest. How can you fold your hands and allow yourself to be dragged to the slaughter?
“They are in the process of impeaching you. That is why you have to fight back and not give them any chance to remove you from office as governor.”
Maintaining his stance, Anabs Sara-Igbe asserted that, according to Section 109 of the 1999 Constitution, the 26 defected lawmakers effectively do not exist, making it inappropriate to present the budget to them.
He emphasized that the budget had already been passed into law, aligning with the perspective of the people of Rivers State.
On the flip side, the Rivers State Chapter of the APC welcomed the court’s decision to nullify the N800 billion budget passed by the Edison Ehie-led faction of the Assembly.
Speaking to the press in Port Harcourt, Tony Okocha, Chairman of the APC in Rivers State, expressed, “The budget was presented in error. There is no way four Assembly members will be sitting as an Assembly when the law stipulated one-third, which is about 10 members.
“So, it means that the Assembly never met, and for the governor to take such a risk amounts to putting something on nothing.”
“So, the decision of the Federal High Court, which also stopped the Governor from interfering with the affairs of the Rivers State House of Assembly, is in order and is welcomed by us.”
The Dangote Petroleum Refinery and Petrochemicals (DPRP) has announced a further reduction in the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, from N1,175 to N1,125 per litre.
A statement from the company on Thursday has it that this latest adjustment reflects the refinery’s ongoing commitment to ensuring price stability, improving affordability, and supporting Nigeria’s energy security objectives.
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The price review underscores Dangote Refinery’s responsiveness to prevailing market conditions and its efforts to pass on cost efficiencies to downstream partners and consumers.
“Dangote Refinery remains focused on its broader mission of contributing to economic growth, enhancing fuel availability, and fostering a more competitive and sustainable petroleum sector in Nigeria,” the statement added.
The Securities and Exchange Commission (SEC) has explained why it directed capital market operators to immediately refund funds collected from investors in connection with a purported Initial Public Offering (IPO) by Dangote Petroleum Refinery & Petrochemicals FZE.
In a public notice issued on Tuesday, the Commission revealed that it had observed the circulation of advertisements, flyers, digital banners, and electronic messages across social media and investment platforms inviting members of the public to invest in the refinery through an alleged IPO.
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According to the SEC, the purported offer has not received regulatory approval, as the Commission has neither received nor approved any application from Dangote Petroleum Refinery & Petrochemicals FZE for a public offering.
The regulator expressed concern that some registered capital market operators were actively promoting the unapproved offer and soliciting subscriptions from prospective investors.
Explaining the reason for its directive, the SEC stated that the campaign was misleading and amounted to market manipulation capable of creating false expectations among investors and undermining confidence in Nigeria’s capital market.
The Commission noted that invitations encouraging members of the public to open accounts, pre-fund investments, or reserve guaranteed share allocations for the alleged IPO violate provisions of the Investments and Securities Act as well as existing market regulations.
As a result, the SEC ordered all registered operators, including stockbrokers and promoters of digital investment platforms, to immediately cease all advertising and promotional activities relating to the purported offer.
The Commission further directed operators to remove all related promotional materials from their websites, social media pages, and other communication channels within 24 hours.
In addition, firms were instructed to stop accepting deposits, investment commitments, account registrations, or expressions of interest linked to the alleged public offering.
To protect investors from potential losses, the SEC ordered any operator that had already collected funds in connection with the purported IPO to refund such monies within 24 hours.
The regulator warned that any operator that fails to comply with the directive risks facing sanctions under the Investments and Securities Act 2025 and the SEC Rules and Regulations.
The Commission also advised Nigerians to rely only on information released through approved regulatory channels and to ignore unofficial promotional campaigns or investment solicitations concerning the refinery.
SEC added that if Dangote Petroleum Refinery & Petrochemicals FZE eventually decides to proceed with a public offering and secures regulatory approval, an authorised prospectus will be published in line with the law.
The directive comes amid reports that the Dangote Group is considering listing a 10 per cent stake in its $20 billion refinery through a Pan-African IPO expected in 2026.
France has confirmed its first-ever case of Ebola virus disease, triggering concern across Europe as health authorities move swiftly to contain the deadly infection.
The French Health Ministry announced on Wednesday that a doctor returning from the Democratic Republic of Congo (DRC), which is currently battling a major Ebola outbreak, tested positive for the virus after arriving in France.
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According to officials, the patient was immediately isolated upon arrival, even before laboratory tests confirmed the diagnosis, helping to reduce the risk of transmission.
In a statement, the ministry confirmed the identification of “a first positive case of Ebola virus disease on national territory,” marking the first time the virus has been detected in France.
The development also represents the first confirmed Ebola case recorded outside Africa during the current outbreak, which has affected both the Democratic Republic of Congo and Uganda.
French authorities disclosed that the case was detected in mainland France, while Prime Minister Sebastien Lecornu is closely monitoring the situation as health agencies intensify surveillance and response measures.
The current outbreak in the DRC was officially declared on May 15 following a series of unexplained deaths in the eastern Ituri Province.
The outbreak involves the Bundibugyo strain of the Ebola virus, for which there is currently no approved vaccine or specific treatment.
Despite growing concerns, public health experts have stressed that the risk of widespread global transmission remains low because Ebola is less contagious than many airborne infectious diseases.
The virus spreads through direct contact with infected bodily fluids and contaminated materials.
Ebola is a severe and often fatal haemorrhagic fever that can cause symptoms including high fever, weakness, muscle pain, vomiting, diarrhoea, and in severe cases, internal and external bleeding.
French health authorities have assured the public that all necessary precautions are being taken to contain the case and prevent any further spread of the disease.
The announcement has nevertheless sparked anxiety across Europe, given the deadly nature of the virus and its emergence outside the African continent during the ongoing outbreak.
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