News
Fed Govt to stop $418m Paris Club refund payment
The Federal Government has made moves to block the redemption of about 62 promissory notes issued to consultants/contractors engaged by the Nigeria Governor’s Forum (NGF) and the Association of Local Governments of Nigeria (ALGON) to retrieve their shares of the Paris Club refunds.
The Federal Government, while faulting the procedure for the issuance of the promissory notes, has prayed a Federal High Court in Abuja to void the notes already issued.
In the suit, now before Justice Inyang Ekwo, the Federal Government and three others, listed as plaintiffs, want the court to, among others, set aside all the promissory notes and issue an order of perpetual injunction restraining the defendants and their agents “from exercising any proprietary rights” over the promissory notes.
Listed as defendants in the suit are: FSDH Merchant Bank Limited, Ned Munir Nwoko, Gregory Nangor Lar, Riok Nigeria Limited, Prince Orji Nwafor Orizu, Olaitan Bello, Dr. Ted Iseghohi Edwards, and Panic Alert Security System Limited.
Other plaintiffs in the suit are: the Attorney General of the Federation, the Minister of Finance, Budget and National Planning, and the Accountant General of the Federation.
The 62 promissory notes, valued at $418,953,668, were issued to the defendants on September 27, 2021 by the Debt Management Office (DMO) following judgments and orders of mandamus obtained against the Federal Government and the Minister of Finance by the defendants, who were said to have been engaged by the Federal Government and ALGON.
The plaintiffs are contending, among others, that the promissory notes are invalid, having been wrongly issued in violation of relevant laws.
They added that although the promissory notes were executed by the then Minister of Finance, Budget and National Planning and the Director General of the DMO, the notes were not signed as required.
The plaintiffs argued that “the promissory notes in issue were wrongly and unlawfully changed on the assets and revenues of the federation instead of the assets and revenues of the states and local governments, who incurred the applicable loans/debts”.
A Principal State Counsel in the Federal Ministry of Justice, Mr. Oyinlade Koleosho, stated in a supporting affidavit that the promissory notes were wrongly and invalidly issued against the assets of the federation.
The lawyer averred that sections 314 and 317 of the Constitution have separated the assets of a state or local government from the assets of the federation or the Federal Government of Nigeria.
Koleosho added that the 62 promissory notes issued to the defendants are invalid because they were charged on the assets of the Fed Govt, who is not indebted to any of the defendants (contractors/consultants).
The plaintiffs also claimed that the Federal Government of Nigeria did not engage any of the defendants, saying there is no valid consideration for the promissory notes issued to them (defendants).
According to court documents, FSDH Merchant Bank Limited was issued 10 promissory notes for the total value of $67,925,661.00, at the rate of $6,499,561.00 per note (allegedly for the benefit of Nwoko).
Gregory Nangor Lar, who is described as Nwoko’s agent, was issued two promissory notes “for the account/benefit of the second defendant (Nwoko) for the total value of $732,511.00 at the rate of $366,256.00 per note”.
Riok Nigeria Limited was issued 10 Federal Government of Nigeria promissory notes issued for the total value of $142,028, 941.00, at the rate of $14,202,895.00 per note.
Prince Orji Nwafor Orizu was issued 10 promissory notes for the total value of $1,219,440.00 at the rate of $121,944.00 per promissory note.
Olaitan Bello is said to have been issued eight promissory notes for the total value of $215,195.00 at the rate of $21,524.00 per promissory note.
Dr. Ted Iseghohi Edwards is said to have got 10 promissory notes for the value of $159,000,000.00, at the rate of $15,900,000.00 per note.
Panic Alert Security System Limited was also issued 10 promissory notes for the value of $47,831,920.00 being the total value of the 10 notes, with a value of $4,783,192.00 per note.
Crime
BREAKING: VP Shettima arrives in Kebbi over Schoolgirls abduction
The Vice President, Kashim Shettima, has arrived in Kebbi State to meet with the state government officials and families of schoolgirls abducted from Government Girls Secondary School, Maga.
The aircraft carrying Shettima landed at the Sir Ahmadu Bello International Airport in Birnin Kebbi.Shettima was accompanied by Director General of the National Emergency Management Agency, NEMA, Zubaida Umar, and other government officials.
Shettima, who had earlier departed Abuja for Kebbi on the directive of President Bola Tinubu, is expected to convey Tinubu’s message to the people of the state, as well as receive a briefing on the situation for onward communication to the President.
Ohibaba.com recalls that the attack on the Kebbi school claimed the life of the school’s Vice Principal, Malam Hassan Makuku, who was reportedly killed while trying to prevent the bandits from taking the girls away.
Meanwhile, the police said on Monday that a combined tactical team was deployed to comb the forests in a bid to rescue the girls.
President Bola Tinubu has condemned the attack and commiserated with the families of those affected.
He also postponed his scheduled trips to Johannesburg in South Africa and Luanda, Angola, to attend the 20th G20 Summit of leaders and the 7th AU-EU Summit, respectively.
News
Tinubu postpones S’Africa, Angola trips over Kebbi, Kwara attacks
President Bola Tinubu has postponed his scheduled trip to South Africa for the G20 Leaders’ Summit as he awaits further security briefings from Vice President Kashim Shettima on the kidnapped Kebbi schoolgirls and the attack on Christ Apostolic Church worshippers in Eruku, Kwara State.
Tinubu also ordered the deployment of more security personnel “to Eruku and the entire Ekiti Local Government Area of the state, and directed the police to go after the bandits who attacked worshippers,” a statement by his Special Adviser on Information and Strategy, Bayo Onanuga, revealed on Wednesday.
The directive was “in response to the request by the governor of Kwara State,” Onanuga stated.
Officials close to the President had told our correspondent that Tinubu intends to receive first-hand reports on the situation in Kebbi, including the outcome of meetings with local leaders, before embarking on his trip.
Tinubu was scheduled to leave Abuja today to attend the 20th G20 Summit of leaders in South Africa and thereafter proceed to Luanda to attend the 7th AU-EU Summit.
“Disturbed by the security breaches in Kebbi State and Monday’s attack by bandits against worshippers at Christ Apostolic Church, Eruku, President Tinubu decided to suspend his departure.“
He now awaits reports from Vice President Kashim Shettima, who paid a sympathy visit to Kebbi on his behalf, as well as reports from the police and the Department of State Services regarding the attack in Kwara,” Onanuga explained.
The President reiterated his directive to the security agencies to “do everything possible to rescue the 24 schoolgirls, abducted by the bandits and bring the girls back home, safe.
”On Tuesday night, Tinubu had directed Vice President Kashim Shettima to visit Kebbi State on Wednesday over the abduction of 25 students of Government Girls Comprehensive Secondary School, Maga, Kebbi State, and the killing of the school’s Vice-Principal.
The President, who had been briefed by the military authorities “expressed sadness over the abduction of the schoolgirls, despite intelligence warnings of a possible strike by the bandits.
The Zuru Emirate in Kebbi State was thrown into panic in the early hours of Monday after armed bandits attacked Government Girls Comprehensive Senior Secondary School, Maga in Danko/Wasagu Local Government Area and killed the Vice Principal and abducted at least 25 students.
While assuring the guardians of the kidnapped schoolgirls that the government will ensure their quick release, Tinubu also commiserated with the military over the death of the gallant soldiers and Brigadier General Musa Uba, who paid the ultimate price while on active duty fighting insurgents in Borno state.
News
President Tinubu Postpones Trip to G20 Summit Because of Country’s Insecurity
Disturbed by the security breaches in Kebbi State and Monday’s attack by bandits against worshippers at Christ Apostolic Church, Eruku, President Tinubu decided to suspend his departure.
President Bola Ahmed Tinubu has postponed his scheduled trip to Johannesburg, South Africa and Luanda, Angola, as he awaits further security briefings on the kidnapped Kebbi schoolgirls and the attack on Christ Apostolic Church worshippers in Eruku, Kwara State.
In response to the request by the governor of Kwara State, President Tinubu has ordered the deployment of more security men to Eruku and the entire Ekiti Local Government Area of the state, and directed the police to go after the bandits who attacked worshippers.
President Tinubu was scheduled to leave Abuja today to attend the 20th G20 Summit of leaders in South Africa and thereafter proceed to Luanda to attend the 7th AU-EU Summit.
Disturbed by the security breaches in Kebbi State and Monday’s attack by bandits against worshippers at Christ Apostolic Church, Eruku, President Tinubu decided to suspend his departure.
He now awaits reports from Vice President Kashim Shettima, who paid a sympathy visit to Kebbi on his behalf, as well as reports from the police and the Department of State Services regarding the attack in Kwara.
President Tinubu reiterates his directive to the security agencies to do everything possible to rescue the 24 schoolgirls, abducted by the bandits and bring the girls back home, safe.
Bayo OnanugaSpecial Adviser to the President(Information and Strategy)November 19, 2025
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