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Health Plus: Takeover Saga Takes New Twist As Equity Firm Ready To Use Force.
The hostile takeover saga of HealthPlus, a pharmaceutical company, by foreign private equity firm (PEF), Alter Semper Capital, has taken a fresh twist, with equity firm ready to use force to take over HealthPlus’ offices and finances via Upperlink, the company’s payment platform, sources have disclosed. The latest development has heightened the fear of the HealthPlus’ management that the company could end up in the hands of Alter Semper Capital via this illegal take over.
The HealthPlus management had, in a statement it issued on Saturday, accused Alter Semper Capital of an illegal attempt to hijack the company and refuted the appointment of one Chidi Okoro as the chief transformation officer (CTO) to replace Mrs. Bukky George, founder of the company. HealthPlus said the announcement of Okoro as CTO was part of the Alter Semper Capital’s design to take over the company.
“The announcement of the appointment of a CTO is wholly false, wrongful and illegal and should be totally ignored,” it said.
“It is the handiwork of unscrupulous foreign and local businesswoman and businessmen intent on reaping where they have not sown simply because they now see opportunities from the COVID-19 pandemic, like scavengers and vultures.”
HealthPlus sources disclosed that Alter Semper Capital representatives are in Nigeria from the UK to take over of the company, whose offices they visited on Friday. According to the sources, the representatives breached the Covid-19 protocol of the Federal Government by their refusal to self-isolate on arrival and headed to HealthPlus two days after arrival. Sources also disclosed that Alter Semper Capital’s representatives attempted to work in the country without work visas. Worse, insiders disclosed, the attempted change of ownership of the company is being carried out without a board resolution or any legal backing.
“They have approached the banks to change signatories to the company accounts, but the banks have refused to cooperate with them because they do not have a board resolution and the approved minutes of the board meeting. The last board meeting held six months ago and the Chairman recently resigned,” said a source.
Insiders back the claim of hijack with a letter written by Alter Semper Capital to the Pharmaceutical Council of Nigeria (PCN). Dated 26 September and signed by Afsana Jetha, a director, the letter was to notify the PCN of a change of leadership in HealthPlus. The letterhead on which the letter was written, however, is one that is no longer in use and was produced when the company turned 20 last year. It also listed as a director, one Mr. Deji Akinyanju, who has since resigned from the board.
The relationship between HealthPlus and Alta Semper Capital began in 2018, when the equity firm agreed to inject fresh capital to enable HealthPlus expand its network and add other services. This was in exchange for a controlling stake to enable the equity firm recoup its investment and was billed to exit after five years.
According to the statement issued on Saturday, HealthPlus said the relationship became ruptured “primarily on account of Alta Semper’s futile attempts to take over the company, leading to it deliberately starving the company of pledged funds as well as the intransigence of Alta Semper’s owners when reminded of their obligations”.
This led HealthPlus to institute a litigation to stop the takeover.
“In May 2020, Mrs Bukky George instituted legal action at the federal high court [Suit No. FHC/L/CS/609/2020] seeking by way of a petition to stop HealthPlus Africa Holdings Limited (the investment vehicle used by Alta Semper Capital and which they control) and their nominee directors from continuing to run and manage the company in an oppressive and prejudicial manner and in disregard of her interests as a member of the company.
“Their actions included: the deliberate delay and withholding of funds; meddling with management, interference with the functions of key employees; abuse of corporate governance processes and now the attempt to remove her as CEO.
“There is a pending motion on notice for interlocutory injunction dated May 27, 2020, to restrain the respondents from doing this but in flagrant disregard of the court process Alta Semper and its cohorts have purported to do just that,” the company said in the statement.
It added that Alta Semper Capital did not file a defence after it was served the court processes and suggested mediation, which HealthPlus accused the equity firm of frustrating.
The company described Alter Semper Capital’s actions as constituting disrespect to the Nigerian judicial system, especially the decision to file arbitration claim against HealthPlus in the UK.
“They chose to frustrate the mediation process after three meetings over a three-month period presumably to enable them to build some spurious case against George and file an arbitration claim in England, which they hope will be a favourable venue to seal their wrongful and unlawful acts,” HealthPlus said.
News
Boko Haram Demands $300,000 Ransom For Abducted Borno Ex-LG Chair, Another Victim
A new video has emerged showing two men reportedly kidnapped by Boko Haram insurgents in Borno State, pleading for assistance to secure their release.
One of the captives, former Biu Local Government Area Chairman Hassan Biu Miringa, revealed that their abductors are demanding a $300,000 ransom.
Miringa said he and another individual were taken in December 2025 and have remained in the custody of the militants.
In the video shared by Zagazola Makama, Miringa introduced himself, saying: “I am Hassan Biu Miringa, former Chairman of Biu Local Government from 2020 to 2022. Four years after my tenure, we were kidnapped by the soldiers of Khilafa about two weeks ago. Alhamdulillah, we are still alive, but we urgently need help to save our lives.”
He added that negotiations with the kidnappers had been underway, with some preliminary agreements reportedly reached.
“We have engaged them on four separate occasions and reached an understanding. We appeal to our leaders, especially Borno State Deputy Governor Alhaji Usman Umar Kadafur, the National Assembly representative for Biu, Kwaya, and Shani Hon. Betera Aliyu, as well as our community leaders, to temper justice with mercy and assist us. We are their children and have been working together,” Miringa said.
He confirmed the ransom demand, explaining that each captive is expected to pay $150,000, totaling $300,000 for their freedom, and pleaded for urgent intervention to reunite with their families.
The video highlights ongoing concerns over kidnappings and insecurity in southern Borno State, which have persisted despite government efforts to curb insurgent activity in the region.
News
How Rivers Women Spread Wrappers For Wike’s Motorcade During Port Harcourt Visit
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.
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Impeachment Proceedings Against Fubara, Deputy Still Active – Rivers Assembly
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.
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