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BREAKING: Wike vs Fubara: Nigerian government stops October FAAC revenue to Rivers State

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The Nigerian government has confirmed the suspension of the October Federation Account Allocation Committee (FAAC) revenue payment to Rivers State amid the ongoing conflict between Governor Simi Fubara and Minister of the Federal Capital Territory, Nyesom Wike.

Bawa Mokwa, spokesperson for the Office of the Accountant General of the Federation (OAGF), disclosed this on Friday.

This development follows the federal government’s announcement on Wednesday approving the disbursement of N1.1411 trillion as October 2024 FAAC revenue to federal, state, and local governments. However, reports indicated that Rivers State’s allocation was withheld due to a court order barring the Central Bank of Nigeria (CBN) and the federal government from releasing the funds.

Responding to the situation, Mokwa stated that the OAGF would comply with the court’s directive. “The October 2024 FAAC has not been distributed yet. However, the federal government will obey the court order regarding Rivers State’s allocation. We will follow due process unless a contrary order is issued,” he said.

Mokwa clarified that the disbursement process for the October allocations to other states was still ongoing as of the time of the report.

The court order, issued on October 30 by Justice Abdulmalik of the Federal High Court, directed the CBN and the federal government to halt the release of monthly allocations to Rivers State. The ruling followed an originating summons filed by a faction of the Rivers State Assembly led by Martin Amaewhule.

The Amaewhule faction, backed by former Rivers State Governor Nyesom Wike, argued that Governor Fubara’s administration had failed to comply with a prior court order mandating the re-presentation of the 2024 appropriation bill to the Amaewhule-led faction of the state assembly.

This legal and political battle is the latest in a series of disputes between Fubara and his predecessor, Wike, which have created significant tensions in Rivers State. Since assuming office, Governor Fubara has clashed with Wike, leading to a prolonged crisis in the oil-rich state.

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Kanu Declines to Open Defence, Insists no Case Against him

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………..Judge Advises Kanu to Consult Expert on Criminal Law

The leader of the proscribed Indigenous People of Biafra (IPOB), Nnamdi Kanu, has declined to open his defence in his ongoing trial, insisting that the Federal Government has no valid charges against him.

At Monday’s proceedings before Justice James Omotosho of the Federal High Court, Abuja, Kanu informed the court that, after finally receiving and reviewing his case file, he found no basis for the charges brought against him. He therefore requested one week to file a written address instead of calling witnesses as earlier planned.

However, lead prosecutor Adegboyega Awomolo, SAN, strongly objected to the request, noting that the court had already granted the defendant six days to conclude his defence—two of which had elapsed. Awomolo argued that Kanu was fully aware of the charges since his plea was taken and witnesses were cross-examined, stressing that the matter could not be allowed to drag indefinitely.

The prosecution urged the court to deem Kanu’s refusal to open his defence as a conclusion of the case and to proceed to judgment.

Justice Omotosho cautioned Kanu about the risks of representing himself, describing him as a “layman” in legal practice and advising him to seek counsel from someone versed in criminal law. The court also reminded him that the issue of his extraordinary rendition from Kenya had already been resolved and was no longer relevant to the current trial.

In the interest of justice, Justice Omotosho granted Kanu’s request and adjourned the case until Tuesday, November 4, for either the opening of his defence or the adoption of his written address on his claim that the Federal Government has no case to answer.

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BREAKING: Omoyele Sowore Regains Freedom After Controversial Detention

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………Vows to Continue Legal and Democratic Struggle

In a significant turn of events, pro-democracy activist and publisher of Sahara Reporters, Omoyele Sowore, has regained his freedom from prison custody today, October 27, 2025, following his controversial detention by police officers last Friday.

Sowore’s arrest came under contentious circumstances — despite being granted bail by a competent court, he was allegedly forcibly removed from the court premises and transferred to prison custody. The incident, which sparked nationwide outrage, was widely condemned by human rights organizations, civil society groups, and media practitioners as a blatant violation of due process and an affront to judicial authority.

In a statement released shortly after his release, Sowore’s lawyer, Tope Temokun, Esq., described the development as a victory for justice and constitutional order. “The court spoke. The Constitution spoke. Today, freedom has spoken!” he said. Temokun praised Nigerians who stood in solidarity throughout the ordeal, emphasizing that the widespread public pressure and persistent advocacy played a key role in ensuring Sowore’s eventual release.

“The resilience of Nigerians, civil society organizations, and media advocates in the face of tyranny is commendable,” Temokun continued. “This moment reminds us that the rule of law can still prevail when citizens refuse to remain silent.”

However, he also cautioned that Sowore’s legal troubles are not yet over. “The struggle is not over. The charges remain in court, and we will continue to confront them with the full force of law and truth,” the lawyer added, reaffirming the legal team’s commitment to defending Sowore’s rights and ensuring that justice is served.

Sowore, a long-time advocate for democratic reforms and government accountability, has faced multiple arrests and prosecutions in recent years over his activism and outspoken criticism of government policies. His most recent detention reignited debates over the shrinking civic space, press freedom, and the misuse of state power to silence dissenting voices in Nigeria.

In concluding remarks, Temokun issued a powerful reminder about the broader implications of Sowore’s case: “Nigeria must never become a country where our voice becomes our crime.”

Sowore’s release has since attracted widespread reactions across social media and from the international community, with many calling for renewed commitment to judicial independence, human rights, and the protection of civic freedoms.

As the legal proceedings continue, many observers see Sowore’s case as a litmus test for Nigeria’s democracy and its adherence to the rule of law in an increasingly challenging political climate.

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60 Million Nigerians Engage Daily in Gambling Activities

Agama raised concerns over the alarmingly low participation of Nigerians in the traditional capital market, revealing that fewer than 4 per cent of the country’s adult population are active investors.

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•SEC DG, Dr. Emomotimi Agama.

More than 60 million Nigerians engaged daily in gambling activities, spending an estimated $5.5 million every day.

This was disclosed by the Director-General of Securities and Exchange Commission (SEC), Dr. Emomotimi Agama.

Agama made the revelation in a lead paper, titled “Evaluating the Nigerian Capital Market Master plan 2015-2025,” presented during the annual conference of the Chartered Institute of Stockbrokers.

He said, “This reveals a paradox, a risk appetite clearly exists, but not the trust or access to channel that energy into productive investment.”

He disclosed that over $50 billion worth of cryptocurrency transactions flowed through Nigeria between July 2023 and June 2024, underscoring the sophistication and risk tolerance of investors that the traditional market has yet to capture.

Agama raised concerns over the alarmingly low participation of Nigerians in the traditional capital market, revealing that fewer than 4 per cent of the country’s adult population are active investors.

He described the low participation rate as a major impediment to economic growth and capital formation.

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