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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.
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I Have Delivered On Yahaya Bello Prosecution Promise — EFCC Chairman Olukoyede
EFCC Chairman, Ola Olukoyede has declared that he has fulfilled his 2024 promise to oversee the prosecution of former Kogi State Governor Yahaya Bello.
Addressing public questions regarding his previous vow to resign if Bello was not prosecuted, Olukoyede stated during an interview on Sunday Politics aired by Channels Television that his mandate to investigate and bring the matter to court has been achieved.
“A sitting governor, because he knew he was about to leave office, moved money directly from government to a bureau de change and used it to pay his child’s school fees in advance $720,000,” Olukoyede said.
He described the alleged action as disturbing, particularly in view of the economic condition of Kogi State.
“In a poor state like Kogi, you want me to close my eyes to that under the excuse that I am being used? Being used by who at this stage of my life?” he asked.
Olukoyede also recalled a public statement he made in April 2024, when he vowed to resign if Bello was not prosecuted.
“If I do not personally oversee the completion of the investigation regarding Yahaya Bello, I will tender my resignation as the chairman of the EFCC,” he had said.
Addressing public concerns over the pace of the case, the EFCC chairman said the commission had fulfilled its responsibility and that the matter is now before the courts.
“Have I not fulfilled that promise? Is Yahaya Bello not being prosecuted? The case is in court,” he said.
He stressed that the EFCC’s role is to investigate and prosecute, not to determine guilt or secure convictions.
“I have three cases against Yahaya Bello. Am I the judge who will decide conviction? I have done my work and fulfilled my mandate,” Olukoyede added.
Bello is currently facing multiple charges before different courts. He is standing trial on a 16-count charge involving alleged property fraud amounting to N110 billion, alongside Umar Oricha and Abdulsalami Hudu.
In a separate case before the Federal High Court, the former governor is also facing a 19-count charge bordering on alleged fraud and money laundering involving N80.2 billion.
The EFCC had earlier declared Bello wanted in April 2024 over alleged financial crimes estimated at about N80 billion, a development that sparked widespread political debate.
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Atiku Issues Stern Warning To Tinubu Govt Over Detention Of Critic Abubakar Musa
Former Vice President Atiku Abubakar demanded the immediate and unconditional release of Abubakar Salim Musa (known as @AM_Saleeeem on X), a prominent critic of President Bola Tinubu’s administration.
Atiku’s statement characterized the arrest as part of a “growing crackdown on dissent” and warned that such repression threatens Nigeria’s democratic future as the nation approaches a critical general election period.
Atiku made the call in a statement issued on Monday, following a report by Amnesty International Nigeria on the arrest of the young Nigerian on Sunday, January 11, 2026.
“This case is yet another stark example of the repressive nature of the President Bola Tinubu administration, which continues to bare its fangs against dissent, whether expressed through public protests or online criticism,” Atiku said.
According to him, Musa’s only offence was his persistent criticism of the worsening security situation in Northern Nigeria and across the country.
“Abubakar’s only ‘offense’ was his consistent and legitimate criticism of the deteriorating security situation in Northern Nigeria and across the country,” he stated.
Rather than engage with the concerns raised, Atiku said the government resorted to intimidation and prosecution.
“Instead of addressing these serious concerns, the government’s response has been to arrest him and subject him to what Amnesty International rightly describes as ‘bogus charges and a sham trial,” he added.
The former vice president stressed that Musa’s arrest was not an isolated incident, noting that several Nigerians had suffered similar treatment for expressing dissent.
“Numerous Nigerians, including journalists, schoolchildren, entertainers and even NYSC members, have faced arrest, assault and intimidation simply for criticising the President or members of his family,” Atiku said.
He warned that such actions pose a grave threat to Nigeria’s democratic foundations.
“This dangerous trend undermines the very foundations of democracy, which rest on the protection of fundamental human rights and freedom of expression,” he said.
Atiku further argued that Nigeria’s democratic credentials were being eroded by the continued repression of critics.
“Nigeria cannot claim to be part of the free world while its citizens are routinely arrested, assaulted and intimidated for voicing criticism of their government,” he stated.
With general elections approaching, Atiku cautioned against an atmosphere of fear and repression.
“As the nation approaches a critical general election, neither the people nor the opposition can operate effectively in an atmosphere of fear and repression,” he warned.
He demanded the immediate and unconditional release of Musa and others detained for exercising their constitutional rights.
“I call on the Tinubu administration to immediately and unconditionally release Abubakar Salim Musa and all others detained for exercising their constitutional rights,” Atiku said.
He also urged the government to halt arbitrary arrests and intimidation, while calling on the international community to intervene.
“I urge the international community, particularly countries and organisations that champion democracy and human rights, to hold the Tinubu regime accountable and demand an end to these violations,” he said.
Atiku concluded by calling on Nigerians and civil society groups to resist any further erosion of civil liberties.
“I encourage fellow patriots, civil society groups and all Nigerians of conscience to join this demand and stand firmly against any further erosion of our freedoms,” he added.
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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.
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