The Kaduna State House of Assembly established an ad hoc committee to review all funds, loans, and contracts given under previous governor Nasir El-Rufai, and presented its findings to the House.

The chairman of the ad hoc committee, Henry Zacharia, presented a report during plenary on Wednesday. The report found that most loans obtained under El-Rufai’s administration were not used for their intended purpose, and that due process was not followed in some cases.

Receiving the report, Yusuf Liman, Speaker of the Kaduna House of Assembly, stated that the El-Rufai government took a total of N423 billion, leaving the state with massive obligations.

As a result, the committee recommended that El-Rufai and other indicted members of his cabinet be investigated and prosecuted by security and anti-corruption agencies for abuse of office through the award of contracts without due process, diversion of public funds, money laundering, and plunging Kaduna State into deep debt.

The committee recommended suspending Kaduna State Commissioner of Finance Shizer Badda, who also served under El-Rufai’s government, and the head of the state universal basic education board.

It also called for a comprehensive inquiry of several key appointments of the previous government by competent law enforcement and anti-corruption authorities.

The committee set up by the Kaduna State House of Assembly was tasked with the assignment of examining loans, grants and projects implementation from 2015 to 2023 during which El-Rufai served as governor of the state.

Former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu has reacted to the recent revocation of the banking license of Heritage Bank by the Central Bank of Nigeria (CBN).

Moghalu described the development as the chronicle of a death foretold, adding that the situation was not surprising.

Moghalu shared his thoughts via a post on his X handle on Wednesday.

He insisted that that the defunct bank should not worry anyone, adding that it doesn’t mean the financial system isn’t sound.

Moghalu said: “The revocation of the banking license of Heritage Bank by @cenbank is the chronicle of a death foretold. In other words, it’s not surprising.

“I don’t think it should worry anyone, nor does it mean the financial system isn’t sound. Banks are businesses, even if very special and thus heavily regulated ones. A bank that is badly run should not have a lifetime guarantee. The important thing is to protect depositors funds.

“What we did in 2010 when we created @AmconNg was to ensure SYSTEMIC financial stability. We made sure no bank failed then to ensure systemic stability because of the unique situation of the global financial crisis. But over the long term, I never subscribed to a view that no bank, no matter how badly run, should ever fail. That would be a wrong approach to financial regulation.”

The strike declared by organised labour has reversed some of the gains made in May by stock market investors as the Nigerian Exchange Ltd (NGX) All-Share -Index (ASI) fell by 0.18 per cent on the first market day of June.

ASI fell to 99118.86 points from the 99,300.38 which it was on the last market day of May 2024.

Market capitalization dropped by 0.18 per cent to close at N56.07tn as investor’s wealth declined by N102.55bn.

On Monday, the volume and value of shares traded decreased by 19.45 per cent and 38.92 per cent to 349.59 million units and N5.24bn respectively.

Top losers were E-Tranzact International Plc which saw shares price dropping by 9.82 per cent of its value, Unity Bank Plc with a decrease of 9.80 per cent, Jaiz Bank Plc losing 9.65 per cent of its shares and MCnichols Plc which lost 9.09 per cent of its share value.

Banking stocks went south as Access Corporation lost 0.05 per cent of share price, First Bank Holdings lost 1.1 per cent shares and Unity Bank Plc lost 0.15 per cent of share price.

The bearish performance came on the background of labour strikes in Nigeria which crippled economic activities across all sectors.

THE WHISTLER reported that banks, schools, hospitals, airports and government offices were shut on the orders of the Nigerian Labour Congress and the Trade Union Congress over a wage increase dispute with the Nigerian government.

Organised labour is demanding N494,000 minimum wage and embarked on an indefinite nationwide strike on June 3, 2024 but the federal government is offering a N60,000 wage.

But after deliberations on Monday night, June 3, 2024, the federal government has agreed to increase the N60,000. However, no amount was mentioned on the negotiation table between the government, private employers and organised labour.

The Federal Airports Authority of Nigeria (FAAN), on Tuesday, announced that it would shutdown power supply for one hour at the international terminal 2 of the Murtala Muhammed Airport in Lagos.

The power maintenance shutdown is expected to occur between 1:30pm and 2:30pm on Wednesday.

FAAN said this is to verify the issues affecting the Bus Riser 11KVA high tension panel on the ground floor – North of the international terminal 2.

“The Federal Airports Authority of Nigeria (FAAN) hereby notify all stakeholders and the public that a maintenance shutdown of power supply shall occur at the International Terminal 2(ITZ-2) between 13:30 and 14:30 hrs on Wednesday, June 05, 2024.

“This is as a result of the urgent need to verify the issues affecting the Bus Riser 11KVA high tension (HT) panel on the ground floor, North of the International Terminal 2 (ITZ-2) of the Murtala Muhammed Airport, Lagos,” a statement by FAAN’s Director, Public Affairs & Consumer Protection, Obiageli Orah, said.

The agency assured that it would ensure that the shutdown has very minimal disruption to flight operations and passenger facilitation.

FAAN informed that airlines that operate within the maintenance hour would be relocated for check-in and arrival formalities at the International terminal 1.

“FAAN would ensure that the shutdown of power supply is with very minimal disruption to flight operations and passenger facilitation.

“The identified airlines, namely Rwanda Air (WB), EgyptAir (MS) and Qatar Air (QR) that operate within the maintenance hour will be relocated for check-in and arrival (parking) formalities at the International terminal 1(ITZ-1). All intending passengers on these flights should please take note.

“The Authority regrets any inconveniences this might cause our stakeholders and the travelling public.

“We are committed to world-class safety standards and service to all airport users,” Orah added.

A Federal High Court in Lagos on Wednesday, further adjourned until June 25 for mention a case against celebrity bartender, Pascal Okechukwu (Cubana Chief Priest), for alleged abuse of the Naira.

The Economic and Financial Crimes Commission (EFCC), arraigned Okechukwu on April 17, on a three-count charge of allegedly spraying and tampering with the Naira notes during a social event at Eko hotel in Lagos.

He had pleaded not guilty to the charges and was granted bail in the sum of N10 million. 

At the last adjourned date on May 2, the defence counsel, Mr Chikaosolu Ojukwu (SAN), had informed the court that parties were exploring settlement and had applied that the matter be settled pursuant to the provisions of Section 14(2) of the EFCC Act.

Following the position, defence counsel then applied for a withdrawal of the preliminary objection, and since there was no objection from the prosecution, the court granted same.

The court had consequently, adjourned the case until June 5 (today) for report of settlement.

However, on Wednesday, newsmen gathered that the defence had written a letter seeking an adjournment of the case.

The case has now been fixed for June 25 for mention.

In the charge, the defendant was said to have tampered with the funds in the denomination of N500, while dancing at the social event in Eko Hotel.

The offence contravenes the provisions of section 21(1) of the Central Bank Act of 2007

Officers of the Nigeria Police Force, Criminal Investigation Department, Alagbon, in the Ikoyi area of Lagos State, on Monday questioned Joseph Aloba, father of the late singer Ilerioluwa Aloba, also known as Mohbad, over a petition filed by Oba Saheed Elegushi.

The head of the Aloba legal team, Monisola Odumosu, in a statement on Tuesday, said the petition borders on cyberbullying, cyberstalking, and criminal defamation.

According to Odumosu, the allegation came on the heels of an interview granted by Aloba recently.

The statement read in part, “Mr Aloba was invited by the police and led to the police station by the representatives of his legal team, Teri Wellington and Monisola Odumosu. The petition was written by Oba Saheed Elegushi who alleged that during one of Mr. Aloba’s interviews with a London-based blogger, he was criminally defamed.

“During the interview, Mr. Aloba granted the London-based blogger, it was alleged that he said, ‘… his son was bullied and killed on the instruction of Oba Elegushi and that it was one Sam Larry that was sent to do the job…”

According to the statement, Aloba reiterated that defaming or performing any act that constituted or could lead to cyberbullying and cyberstalking Oba Elegushi wasn’t his intention, as he was trying to seek justice for his late son.

Odumosu added that the late singer’s father further clarified that he did not have any proof to support the allegation against the monarch except the petition written by his late son and other phone conversations he had with him.

While noting that the monarch, who was present at the meeting, demanded a retraction, Odumosu clarified that Aloba was never arrested or detained.

“In fairness to Oba Elegushi, he only demanded the retraction of the defaming statements made by Mr Aloba on social media.

“Mr. Aloba was never arrested or detained. He was granted bail without stress. It is important to note that Mr. Aloba is still grieving the death of his son. He just lost a single star in the family firmament.

“Any grieving parent may on the spur of the moment make statements that may tend to be unreasonable. We only need to understand the geographical circumstances giving rise to his utterances.”

Mohbad died at the age of 27, on September 12, 2023, with circumstances surrounding his death sparking controversies on social media.

Minister of the Federal Capital Territory, Nyesom Wike, has disclosed why one of the newly constructed road in abuja was named after Wole Soyinka.

Within Nigeria had reported that the Arterial Road N20 from Northern Parkway to the Outer Northern Expressway within the Federal Capital City was named after the Nobel laureate. 

The project, which was a Full Scope Development of the Arterial Road, was commissioned by President Bola Tinubu on Tuesday.

Wike disclosed that the contract for the construction of the road was awarded in 2020 at the cost of N30.6 billion, adding that the completion of the road project has brought relief to the residents of the FCT.

He said the naming of the road after Soyinka was a way of honouring individuals who have contributed to the growth of Nigeria.

He stated that “the proposal to dedicate the road to Prof. Wole Soyinka is rooted in the importance of honoring individuals who have made significant contributions to progress and development during their lifetime, thus setting an example for others.”

The Minister also thanked the contractor for ensuring the timely completion of the road project.

Earlier, President Bola Tinubu has disclosed that he went against the wish of many people to appoint Nyesom Wike as the FCT minister.

Tinubu said some persons advised him against appointing Wike into his cabinet.

Tinubu said Wike has proved his detractors wrong and has also rewarded the confidence he resposed in him, noting that he has given his government something to point to as achievement in its first year.

Nollywood actress Motilola Akinlami has taken to social media to share her emotional journey following her bold accusations against senior colleague Kunle Afod for allegedly sabotaging her career in the industry.

In a video posted on her Instagram account, the actress expressed gratitude for her life amidst what she described as trying times.

The video captures Motilola visibly emotional, thanking God while poignant music plays in the background.

Acknowledging the challenges she faced, Motilola revealed that she felt spiritually, physically, and emotionally shaken by the ordeal.

However, she expressed profound gratitude to God for guiding her through the turbulent period.

In her Instagram post accompanying the video, Motilola wrote;

“Had to post this today because them try…aaah them shake me oh.. Spiritually, Physically, Emotionally gan ko kere. But I’m grateful…..thank you Eledumare Oba A sore ma ye.”

Meanwhile, Nollywood actress, Motilola Akinlami has called out her senior colleague, Kunle Afod for reportedly sabotaging her in the movie industry.

In the series of videos, Motilola noted how Afod’s wife used to run from pillar to post over their relationship and now that she decided to let him go, he has made it a point to sabotage her from getting big jobs in the industry. According to the actress, this had been going on for five years.

The actress expressed her frustration over how movie producers have ghosted her because Kunle Afod reportedly manipulated their colleagues to sideline her in the movie industry.

According to Motilola, she has spoken to a lot of her senior colleagues to help resolve the issue but all efforts have proven futile.

See below;

Calls Accusations “False And Misleading”

Minister of Women Affairs, Uju Kennedy-Ohanenye, has denied allegations of misappropriation of funds made by Kafilat Ogbara, chairman of the House of Representatives Committee on Women Affairs and Social Development.

The allegations were made during a programme hosted by Arise TV, where Ogbara claimed the minister had been petitioned and invited by the committee to explain the alleged misappropriation of funds in the ministry.

Musa Abdulrahaman, her media aide, denied the allegations in a statement, entitled: “Re: Allegations against Uju Kennedy, false, inaccurate and misleading.”

He categorically denied the allegations, describing them as false, misleading, and an attempt to discredit the minister, adding that the committee on Women Affairs has not communicated with the ministry regarding any petition or invitation for explanation.

Abdulrahaman said the Minister of Women Affairs has been praised for her significant impact on the lives of women and children across the nation, particularly in areas of empowerment, girls’ child education, and the fight against sexual and gender violence.

According to him, her commitment to transparency and accountability has been highlighted, with the office stating that she operates an open door policy and is accessible to all.

The media aide called on Ogbara and her committee to focus on delivering the dividends of democracy in line with President Bola Tinubu’s Renewed Hope Agenda, rather than being distracted by false allegations.