Connect with us

News

EFCC PETITION EXPOSES FCMB N231 MILLION FRAUD.

Published

on


By NGIJ team of Oluwasegun Abifarin and Olawale Abideen
 While the First City Monument Bank  FCMB and its Shareholders defied the Covid 19 lock down directives last week, to hold its Annual General Meeting (AGM) by proxy and celebrate its N20.1 billion profit for the 2019 financial year, little did the shareholders know that a petition with the Economic and Financial Crimes has exposed the underbelly of the financial institution. According to the document received by the Nigerian Guild of Investigative Journalists, NGIJ, Niger State governor, Alhaji Abubakar Sani-Bello in a letter dated 23/07/2015 from the office of the Permanent Secretary, Ministry of Finance, Malam Zakari Abubakar appointed Ori Adeyemo, a Lagos based forensic expert as consultants to investigate deductions of unremitted 10% Withholding Tax on Credit Interest by some banks operating in the state.
At the end the forensic investigation, the total refundable by FCMB stood at N234, 828,268.31, out of the N4.6 billion due to the state by 12 banks and one Micro Finance institution.
In his petition to the EFCC, obtained by the NIGJ team. Adeyemo alleged he was reliably informed that the Board had the bank was merely given a slap on the wrist by ordering to pay a paltry sum ofN3, 743,098.01.
According to the petitioner, “behind our back, the Board forwarded another demand letter dated 02/07/2018 to the First City Monument Bank Plc. for a revised but lower N3,743,098.01 sum, which we understand has been paid by the bank in full and final settlement per Pedabo’s letter dated 01/11/2018.” By this, the EFCC was told, “Niger State Government fraudulently lost N231, 085,170.30 IGR revenue to First City Monument Bank Plc. through unholy collusion and gang-up therewith unknown and faceless Consultants who incidentally were suspected to have relied on our documents earlier submitted to the Board.” The petitioner also included a compact disk (CD) detailing all completed jobs in intellectual properties as so far executed by the consultant for the Niger State Government enabling it to demand for an additional but unpaid N732,143,601.52 commission sum

News

How Rivers Women Spread Wrappers For Wike’s Motorcade During Port Harcourt Visit

Published

on

By

The Minister of the Federal Capital Territory, FCT, Nyesom Wike, on Saturday visited Port Harcourt City Local Government as part of his “thank you” visit across Rivers State.

 

Upon his arrival, a group of women displayed a symbolic gesture of loyalty by spreading their wrappers on the ground for his motorcade.

 

The women and supporters of the Minister were in a jubilant mode as Wike drove on the wrappers.

 

Wike has been going around local governments in the state to appreciate them for their support while reeling out moves ahead of the 2027 general elections.

 

In the course of his visits, the Minister had fired several salvos at political actors in the state, warning that their sudden support for President Bola Tinubu won’t secure them any ticket in 2027.

 

Wike also renewed rivalry with Governor Sim Fubara over the leadership control of the political space in the state.

 

Continue Reading

News

Impeachment Proceedings Against Fubara, Deputy Still Active – Rivers Assembly

Published

on

By

The Rivers State House of Assembly has officially reaffirmed that the impeachment proceedings against Governor Siminalayi Fubara and his deputy, Prof. Ngozi Odu, are ongoing and have not been suspended.

 

The Assembly said the process is still ongoing and is being conducted strictly in line with constitutional provisions.

 

This was contained in a statement issued on Friday by the Chairman of the House Committee on Information, Petitions and Complaints, Hon. Enemi George.

 

According to the statement, the impeachment process, which began on Thursday, January 8, 2026, remains on course in line with the 1999 Constitution of the Federal Republic of Nigeria (as amended).

 

The lawmakers disclosed that separate notices of allegations bordering on gross misconduct have been served on both the governor and his deputy in line with Section 188 of the Constitution.

 

“The notices of allegations of gross misconduct against the Governor and the Deputy Governor have been duly forwarded to them by the Speaker of the House, Rt. Hon. Martins Amaewhule, and the House is awaiting their responses,” the statement said.

 

The Assembly maintained that it is constitutionally obligated to act in the interest of the rule of law and ensure that no public office holder acts outside legal boundaries.

 

Reacting to reports suggesting that the impeachment move had been halted, the House accused some individuals and media outlets of deliberately spreading misinformation to mislead the public and stir tension between the legislature and Rivers residents.

 

The lawmakers described such reports as false and insisted they would not succumb to intimidation, threats, or blackmail.

 

“We are aware of renewed attempts by certain persons and media platforms to misinform the public by claiming that the impeachment process has been discontinued. The public should disregard such falsehoods, as the process remains active,” the statement added.

 

The Assembly reaffirmed its commitment to democratic principles and constitutional responsibilities, stressing that it would not be distracted by what it termed “cheap propaganda.”

 

It also appreciated the people of Rivers State for their support and prayers amid the ongoing political developments and extended goodwill to Nigerians committed to the nation’s democratic journey.

 

JomogNews reports that during Thursday’s plenary session, presided over by the Speaker, the Majority Leader, Major Jack, formally read the notice of allegations of gross misconduct against Governor Fubara on the floor of the House.

 

 

 

Continue Reading

News

Your Second Coming Was A Chance To Avoid These Political Mistakes – Fayose To Fubara

Published

on

By

Former Governor of Ekiti State, Ayodele Fayose, says the second coming to office of the Rivers State Governor, Siminalayi Fubara, after the elapsing of the state of emergency should have made him better.

 

Fayose’s remarks come as the Rivers State House of Assembly has initiated impeachment proceedings against Fubara as of January 8, 2026.

Speaking in an interview on ‘Politics Today’, a programme on Channels Television on Friday, Fayose said he was removed as governor and went to exile but became a better person upon his return.

Fayose said that President Bola Tinubu hates ingratitude just like any other person else does.

The former Ekiti governor also dismissed the claim that what is happening in Rivers state is politics taken too far.

According to him, the constitution provides rules of engagement for every politician, stressing that it is when one gets out of the rule that he begins to look for public sympathy.

“The coming back of Governor Fubara should have made him a better person .If you made a mistake the first time, the second time you are not supposed to go through that route.

“Politics is a power game. Nobody solves political game for you. With due respect, let me tell you. Fubara is the one enjoying the office of the governor of Rivers state. It’s not the FCT Minister, Nyesom Wike.

“Some people are saying it’s about Tinubu’s election. No! Because Tinubu’s election will come first, don’t forget that. Both Wike and Fubara will all work for Tinubu. Two weeks after, there will be an election for Rivers state,” he said.

Continue Reading

Trending