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N3.5b debt: Court freezes Oyo govt’s accounts in 10 banks
The High Court of the Federal Capital Territory (FCT) in Abuja has issued an order to freeze the accounts of the Oyo state government in ten commercial banks across the country.
The order was issued by Justice A. O. Ebong in a ruling on a proceeding initiated by ex-council chiefs in Oyo state, sacked on May 29, 2019 by Governor Seyi Makinde, and who in 2021 got a N4,874,889,425.60 judgment against Makinde and other officials/agencies of the state.
The other officials/agencies listed with Makinde as judgment debtors, by virtue of the May 7, 2021 judgment of the Supreme Court, are the Attorney General, Commissioner for Local Government and Chieftaincy Affairs, Accountant General of Oyo State, Speaker of the House of Assembly, the House of Assembly and the Oyo State Independent Electoral Commission (OYSIEC).
The garnishee proceeding is intended by the ex-council chiefs, led by Bashorun Majeed Ajuwon, to recover the balance of N3,424,889,425.60 (N3.5b) which is outstanding from the actual judgment sum, from which Makinde paid only N1.5m in 2022.
What was outstanding in respect of the Supreme Court judgment was N3,374,889,425.60, but the Court of Appeal in Abuja added N50million, which it awarded as cost against Makinde and others in a judgment on December 8, dismissing their appeal.
The banks in which the Oyo State Government’s accounts are blocked are Zenith Bank, United Bank of Africa (UBA), Wema Bank, First Bank of Nigeria, Ecobank, Guaranty Trust Bank, Access Bank, Polaris Bank, Jaiz Bank and Union Bank.
Justice Ebong, in the ruling on a motion marked: BW/M/85/2023, ordered the garnishees (the banks) to “file affidavits and attend this court on the next adjourned date to show cause why the garnishee orders nisi hereby granted should not be made absolute.”
The judge awarded N300,000.00 as cost against the judgment debtors; ordered that a copy of the order be served on Makinde and others and adjourned till January 5 next year for hearing.
On May 7, 2021 when the Supreme Court gave judgment, voiding Makinde’s sack of elected Local Government Chairmen and Councillors in Oyo State, the apex court gave similar judgment in respect of Katsina State and ordered both states to pay the salaries and allowances of the effected ex-council chiefs.
Justice Ejembi Eko, who delivered the lead judgment in the Oyo State case, condemned the decision by Makinde to unlawfully sack the elected council chiefs before the end of their tenure.
Justice Eko said: “I will not conclude this appeal without commenting on the disturbing ugly face of impunity displayed by the Governor of Oyo State on 29th May, 2019 which is tantamounting to executive lawlessness, outrightly and vehemently condemned by this…
“Local Government Chairman and Councillors, being persons duly elected by the people cannot just be removed and their councils dissolved whimsically and arbitrarily by any other elected persons in clear abuse of their office and powers. It is not right in law and under the Constitution to do that.”
But, while the Katsina State Government has since paid its ex-council chiefs, who were unlawfully sacked, the Oyo State Government, under Makinde has failed to paid the ex-council chiefs he sacked before the end of their tenure, and which sack the Supreme Court voided in its May 7, 2021 judgment in the appeal marked: SC/CV/556/2020.
Lawyer to the ex-council chiefs, Musibau Adetunbi (SAN) had, during a hearing in the appeal filed by Makinde and others before the Court of Appeal, Abuja, told the court that some of his clients have died while others are suffering after they were unjustly sacked as elected council officials by Makinde, who he blamed for the delay in paying the judgment debt.
In a court document, the ex-council chiefs said: “As at date, we have lost 26 of our members, whose children are crying to the conscience of His Excellency (Makinde) for justice.
“Obviously, if His Excellency (Makinde) had paid our money within the six months expressly pledged by the immediate past Attorney General on his behalf, our deceased colleagues would have had little money to attend to the sicknesses that took most of them away.”
News
16-Year-Old Osasere Okundaye Becomes Nigeria’s Youngest Chartered Accountant
In a remarkable feat that has captured national attention, 16-year-old student Osasere Okundaye has emerged as Nigeria’s youngest chartered accountant, shattering the previous record set in 2022.
Okundaye successfully completed the professional examinations of the Institute of Chartered Accountants of Nigeria (ICAN), earning widespread acclaim as a shining example of youthful excellence and determination. Her achievement comes at an age when many peers are still navigating secondary education or early university studies.
Minister of Youth Development Ayodele Olawande congratulated the young prodigy, describing her accomplishment as an inspiring milestone. “I heartily congratulate Miss Osasere Okundaye on her outstanding achievement of becoming Nigeria’s youngest Chartered Accountant at just 16 years of age,” the minister said, highlighting her hard work and resilience as a symbol of the potential within Nigerian youth.
Okundaye’s success surpasses the record previously held by Jonathan Adewale (also known as Ojo Jonathan Adewale), who qualified as a chartered accountant at age 17 in 2022. Her qualification has sparked pride across the country and renewed focus on empowering young Nigerians in professional fields.
While full ICAN membership typically requires additional practical experience (usually three years), Okundaye’s completion of the rigorous exams marks a historic breakthrough. Details about her educational background and the journey to this achievement are still emerging, but her story is already motivating aspiring accountants and students nationwide.
This milestone underscores the growing narrative of exceptional young talent driving Nigeria forward in various sectors. Congratulations poured in from across social media and media outlets, celebrating Okundaye as a beacon of hope for the nation’s future.
News
JUST IN: Vigilante Groups Rescue Kidnapped NECO Students in Borno State
Local vigilante groups have successfully rescued several students of the National Examinations Council (NECO) who were abducted in Borno State, security sources confirmed on Monday.
The students were reportedly kidnapped while traveling or residing in the area for examination purposes. Details of the exact number rescued and the circumstances of the abduction remain limited, but eyewitness accounts indicate that vigilante fighters acting on intelligence engaged the kidnappers, leading to the release of the captives without major casualties reported among the students.
A community leader in the affected area praised the swift response of the vigilantes, stating that their deep knowledge of the local terrain played a crucial role in tracking the abductors. “These boys and girls were on their way to pursue their education. We thank God and our local defenders for bringing them back safely,” he said.
Borno State has faced persistent security challenges, including banditry and insurgent activities that have occasionally targeted schools and students. The rescue operation highlights the growing reliance on community-based security networks in complementing efforts by the Nigerian military and police in the region.
Authorities are yet to issue an official statement on the incident, but sources say efforts are ongoing to reunite the rescued students with their families and provide necessary medical and psychological support. Investigations into the kidnapping are also underway to apprehend those responsible.
This latest incident comes amid broader concerns over the safety of students in northern Nigeria during examination periods.
News
EFCC Charges Former Port Harcourt, Warri Refinery MDs with Money Laundering
Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission (EFCC), has filed separate money laundering charges against the immediate past Managing Directors of the Port Harcourt Refining Company (PHRC) and the Warri Refining and Petrochemical Company (WRPC).
The accused are Ahmed Adamu Dikko, former MD of the Port Harcourt Refinery, and Jimoh Olasunkanmi Yisawu, former MD of the Warri Refinery. The charges stem from the alleged diversion and laundering of funds earmarked for the rehabilitation of Nigeria’s state-owned refineries.
According to court documents and investigations by PREMIUM TIMES, the EFCC accused the former officials of abusing their positions by receiving and laundering large sums of money through third parties in connection with controversial turnaround maintenance contracts.
The probe forms part of a broader investigation into alleged fraud involving billions of dollars linked to the rehabilitation of the Port Harcourt, Warri, and Kaduna refineries. EFCC sources have indicated that the total amount under scrutiny runs into billions, with earlier recoveries reported at ₦38.66 billion alongside other properties.
The charges include multiple counts of money laundering, with Dikko and Yisawu allegedly involved in diverting public funds meant for critical refinery upgrades. This comes amid ongoing scrutiny of officials from the Nigerian National Petroleum Company Limited (NNPCL) and contractors involved in the projects.
The development is the latest in a series of actions by the EFCC targeting alleged corruption in Nigeria’s oil sector, where massive investments in refinery rehabilitation have yielded limited operational improvements despite significant expenditures.
As of the time of filing, court proceedings for the arraignment of the former MDs were underway. The EFCC has not yet issued an official statement on the matter.
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