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.
The Federal High Court sitting in Abuja on Tuesday filed a 13-count charges, under case number FHC/ABJ/CR/206/2026, against five suspects arrested by the Department of State Services (DSS) in connection with an alleged foiled coup plot.
The suspects- Major General Mohammed Ibrahim Gana (rtd), Captain (NN) Erasmus Ochegobia Victor (rtd), Inspector Ahmed Ibrahim, Zekeri Umoru, Bukar Kashim Goni, and Abdulkadir Sani, were apprehended by the agency following intelligence that uncovered plans to overthrow the government.
The charges filed against them include treasonable felony, conspiracy to overthrow the Government, conspiracy to commit terrorism and other offenses related to national security threats.
Recall that in September 2025, a joint covert operation led by the DSS had uncovered a deadly plot by some serving military officers to destabilize the government and undermine Nigeria’s democracy.
This led to the arrest of some alleged key figures involved in the coup.
“The arraignment points to the federal government’s resolve to counter subversive threats amid ongoing efforts to maintain stability in the country”, a source affirmed.
The Kaduna State High Court has refused bail to former governor Nasir El-Rufai, citing concerns that his influence could interfere with ongoing investigations.
Justice Darius Khobo ruled that the allegations of financial impropriety against the former governor are serious enough to warrant his continued detention.
Counsel to El-Rufai, Ubong Akpan, SAN, says the defence disagrees with the decision but respects the court’s position. He confirms that the legal team will promptly challenge the ruling by filing the necessary appeal.
The defence also maintains that the case is politically motivated, describing the trial as part of a broader agenda.
The development comes despite an earlier ruling by the Federal High Court in Kaduna, which granted El-Rufai bail under strict conditions, pending compliance.
At the State High Court, El-Rufai is facing a nine-count charge, including allegations that he influenced the Kaduna State Government to release about eleven billion naira to an unregistered entity for a light rail project that was never executed. He has denied all the allegations.
News
536 blind candidates participate in 2026 UTME
Other categories, including candidates with down syndrome, autism spectrum disorder and dyslexia, also recorded notable admission rates, with dyslexia candidates achieving a 100 percent success rate.
More than 536 blind candidates and others with special needs participated in the 2026 Unified Tertiary Matriculation Examination (UTME) across 11 designated centres nationwide, under arrangements tailored to their needs.
Chairman of the JAMB Equal Opportunity Group (JEOG), Emeritus Professor Peter Okebukola, disclosed this in a statement, in Abuja, yesterday.
He disclosed that Kano State recorded the highest number with 136 candidates, followed by Lagos with 95, while Abuja hosts 46 candidates.
Others were from Ado-Ekiti, Bauchi, Benin, Enugu, Kebbi, Oyo, Jos and Yola, each supervised by experienced academics, many of whom are former vice-chancellors.
He noted growing interest among candidates in Science, Technology, Engineering and Mathematics (STEM) subjects, describing it as a positive shift and also acknowledged the ongoing challenges faced by blind students in pursuing science-related disciplines, and disclosed that efforts have been underway since 2018 to address these barriers.
Prof Okebukola expressed satisfaction with the improving admission outcomes for candidates with disabilities, noting that in the 2025 admission cycle, 483 candidates applied for tertiary education out of which 252 secured admission, representing a 52.2 percent success rate.
He disclosed that candidates with visual impairment formed the largest group, accounting for 429 applications, with over half successfully admitted.
Other categories, including candidates with down syndrome, autism spectrum disorder and dyslexia, also recorded notable admission rates, with dyslexia candidates achieving a 100 percent success rate.
(The Sun)
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