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Fed Govt to stop $418m Paris Club refund payment

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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.

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Slain businessman, Fish Magnate buried amidst anguish from family (Photos)

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It was all wailing yesterday at Eziakpu Village, Ikenga, Aguata LGA of Anambra State, during the burial of slain businessman, Mr Martins Ifesinachi Onyekesi, also know as Fish Magnate.

Onyekesi was a fish processor and seller who prominently advertised his trade on social media.

He was killed last month, after he was abducted by unknown persons, who later dumped his body in a nearby town, instructing his family to go pick him up.

During his burial on Thursday at Ikenga community, family, friends and sympathizers wailed as his corpse was lowered into mother earth.

It was a quick and solemn event which witnessed the presence of the Deputy Governor of Anambra State, Dr Onyeka Ibezim who represented Governor Chukwuma Soludo.

The event featured fewer speeches, except for the family’s prayers by his graveside.

His death has attracted reactions, including the visit of activist, Martins Otse, also known as Very Dark Man, who led a protest on the incident to call for an end to killings in Anambra State.

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Business

We are under attack – NNPCL GCEO, Ojulari

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Bayo Ojulari, Group Chief Executive Officer of the Nigeria National Petroleum Company Limited (NNPCL), has announced that he and his management team are currently under serious threat.

Ojulari said his offense is the reforms he has introduced in the oil and gas sector in line with the mandate given to him by President Bola Tinubu to turn around the moribund refinery.

He raised this alarm on Thursday, lamenting that some powerful elements are plotting to remove him from the seat.

The NNPCL boss raised the alarm when he received the delegation of the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, led by its President, Comrade Festus Osifo, at the company’s headquarters, Abuja.

Details shortly…

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Crime

YELWATA KILLINGS: DSS Files Charges Against Suspects over Benue Attacks

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The Department of State Services (DSS) on Thursday filed six separate charges at the Federal High Court in Abuja against terror suspects responsible for deadly attacks in Yelwata village, Guma Local Government Area of Benue State.

The assaults left numerous people dead and others injured.

The charges involve nine suspects apprehended through intelligence-led operations by DSS operatives. However, only two of these suspects were charged in court on four counts related to the Yelwata massacre.

The accused, Haruna Adamu and Muhammad Abdullahi, both from Awe Local Government Area of Nasarawa State, alongside others still at large, are alleged to have carried out attacks on Abinsi and Yelwata villages on June 13, 2025.

Their actions violate Section 12 of the Terrorism Prevention Act, 2022.

The two suspects are accused of conspiring with Musa Beniyon, Bako Malowa, Ibrahim Tunga, Asara Ahnadu, Legu Musa, Adamu Yale, Boddi Ayuba, Pyeure Damina, and others still at large, to execute the Yelwata attacks.

According to the DSS charges, the defendants knowingly concealed critical information about the planned terrorist attacks and killings in Abinsi and Yelwata between June 13 and 14, which could have aided in preventing the acts and apprehending the perpetrators.

Filed by the Director of Public Prosecution of the Federation (DPPF), Muhammad Abubakar, on behalf of the federal government, the charges further accuse the defendants of preparing to commit acts of terrorism with the named co-conspirators, in violation of Section 29 of the Terrorism Prevention and Prohibition Act, 2022.

In a separate charge, two more suspects, Terkende Ashuwa and Amos Alede from Guma Local Government Area, were charged with three counts for allegedly conducting reprisal attacks against terror suspects involved in the Abinsi and Yelwata incidents.

In case file FHC/ABJ/CR/448/2025, the pair are accused of attending and participating in meetings that led to acts of terrorism causing destruction of private property and economic loss, including the death of 12 cattle in Ukpam village, Benue State.

This is contrary to Section 12 of the Terrorism Prevention and Prohibition Act.

The second count alleges that in July 2025, they conspired during a meeting in Daudu town, Guma LGA, to carry out terrorist acts together with others still at large, violating Section 26 of the same Act.

The third count claims they knowingly supported and received material assistance in the form of locally made guns and an AK-47 rifle from one Alhaji Uba to commit terrorism, leading to property destruction and cattle loss in Ukpam village, punishable under Section 13 of the Terrorism Prevention Act.

Additionally, Halima Haliru Umar, a 32-year-old woman from Faskari Local Government Area, Katsina State, faces a four-count charge for concealing information about Alhaji Sani, a suspected gun runner, bandit, and kidnapper.

Her actions allegedly prevented the timely apprehension of criminal elements, violating Section 6 of the Terrorism Prevention and Prohibition Act.

She is also accused of aiding terrorism by transporting 302 rounds of live AK-47 ammunition to bandits in July 2025, contrary to Section 13 of the Act.

In another case, two elderly men—75-year-old Nanbol Tali and Timnan Manjo—face four-count charges for illegal possession and trading of firearms.

They are accused of buying and selling two locally fabricated AK-47 rifles without licenses for 3 million naira, violating Sections 9 and 27 of the Firearms Act, 2024.

They allegedly possessed one AK-47 rifle in Mangu LGA, Plateau State, and purchased three long-range revolver rifles at 60,000 naira each from an individual named Chomo, intending to resell them to bandits.

In a related development, Danjuma Antu of Jos North, Plateau State, was charged on five counts for unlawful possession of two locally fabricated pistols capable of firing 9mm ammunition, contrary to Section 3 and punishable under Section 27 of the Firearms Act, 2024.

Similarly, Silas Iduh Oloche of Agatu LGA, Benue State, faces six counts of unlawful possession of 18 firearms (including grenades) without licenses, violating Sections 3 and 27 of the Firearms Act.

He was reportedly found with 683 live rounds of 7.62mm ammunition on August 2, 2025, contrary to Section 8 of the same Act.

No trial date has yet been scheduled for the suspects charged on Thursday, August 28, 2025.

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