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$20m Accounts: Patience Jonathan May Forfeit N10bn Hotel to FG

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Dame Patience Jonathan, the wife of former President Goodluck Jonathan, may forfeit to the Federal Government, a N10bn hotel allegedly belonging to her if she fails to explain how she came about some funds allegedly traced to her accounts.

“This is one of the questions she may have to answer as the Economic and Financial Crimes Commission continues investigation into the $20m found in five accounts she has laid claim to,” a source told our correspondent on Monday.

The hotel, which is known as Aridolf Resort Wellness and Spa, Yenagoa, was inaugurated by Patience in April 2015, barely a month before the end of her husband’s tenure.

According to a UK business newspaper, The Financial Times, the hotel, which has imported state-of-the-art furniture, can compete with other luxury hotels in developed countries.

The report dated April 21, 2015, states in part, “The Aridolf Hotel in Yenagoa is an unlikely monument to kitsch on a reclaimed swamp in Nigeria’s oil-producing Niger Delta. In the lobby, Louis XIV furniture is accompanied by bowls of plastic fruit, faux Dutch landscapes and a grotesquely gaudy chandelier. The hotel is redolent of the riches on display in a region that for half a century has generated the bulk of Nigeria’s wealth.

“The Aridolf, which is owned by Patience Jonathan, wife of the former President, is symptomatic of how superficial progress has been in addressing the festering sense of marginalisation in the region, which remains desperately impoverished despite benefiting from a tide of petrodollars in recent years.”

The Chairman, Presidential Advisory Committee Against Corruption, Prof. Itse Sagay, told our correspondent that the EFCC had the right to investigate anybody who was living above his or her means.

He said anybody, who failed to do so, could risk forfeiture of properties believed to have been obtained through stolen funds or could lose funds traced to him or her.

Sagay, a Senior Advocate of Nigeria, wondered how Patience, who was a civil servant and never held any government position, could have billions in her bank accounts.

He said, “The EFCC and ICPC Acts have provisions under which they can ask the court to freeze the account of a person if a person’s capacity to earn is below the amount of money that the person appears to have.

“If you are living a lavish lifestyle and it appears you don’t have the means to have acquired the property and the wealth you have, the EFCC is free to probe you.”

Patience recently sued Skye Bank and the EFCC for freezing four company accounts which have a balance of $15m.

The former first lady also has another account with the title, ‘Patience Ibifaka Jonathan’ which has a balance of $5m. The account is, however, still active.

Four of the accounts belonged to Pluto Property and Investment Company Limited, Seagate Property Development and Investment Company Limited, Trans Ocean Property and Investment Company Limited and Globus Integrated Service Limited.

The anti-graft commission believed that a former Special Adviser to the President on Domestic Affairs, Waripamowei Dudafa, forged the identities of his domestic servants to open the four accounts while the fifth account was opened in the name of Patience.

The domestic servants were, however, denied access to the accounts while a platinum card was issued to Patience.

The EFCC froze the accounts of the four companies which were initially believed to be owned by Dudafa until Patience stated last week that the four accounts belonged to her.

The EFCC is set to arraign Dudafa and some bank officials for alleged fraud.

However, Mr. Joseph Okobieme, the lawyer to Demola Bolodeoku, one of the bank officials, said his client did not take part in forging the signatures of the domestic servants/directors.

He said, “I don’t know why he was included in the charge. He has no business in this transaction. He was merely doing his job as a banker. The allegation they levelled against him was not that he benefitted from the proceeds of the alleged transaction.

“There is a mere allegation of forgery of certain documents which are not within his power to have forged because he is not a director of the company.

“These four companies were duly registered by the CAC (Corporate Affairs Commission) with the names and the directors on record. So, if they say the names of these directors were forged, it is not possible for my client to have forged them. Clearly, he was not the author of the documents.”

He believed that the four domestic servants should be charged by the EFCC as well.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Government

Senate Suspends Senator Abdul Ningi for 3 Months Over Budget Padding Allegations

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Abdul-Ahmed-Ningi

The Senate has announced the suspension of Senator Abdul Ningi for three months following his allegations of budget padding to the tune of N3.7 trillion in the 2024 budget.

Ningi, who represents Bauchi Central and chairs the Senate Committee on Population, had made the claims in a recent interview with the Hausa service of the BBC.

During a plenary session, Senator Olamilekan Adeola, the Chairman of the Senate Committee on Appropriations, raised a motion to address Ningi’s allegations, citing the urgent need to address what he termed as “false allegations.”

The transcript of Ningi’s interview was read on the Senate floor, prompting deliberation on the appropriate action to take.

Initially, Senator Jimoh Ibrahim proposed a 12-month suspension for Ningi, but Senator Chris Ekpeyong moved to reduce it to six months.

Eventually, Senator Garba Maidoki amended the motion further, suggesting a three-month suspension.

The amended motion was put to a voice vote, and Senate President Godswill Akpabio announced the decision to suspend Ningi for three months.

Following the ruling, Ningi was escorted out of the Senate chamber by the Sergeants-at-arms.

The suspension comes amidst division within the Senate over Ningi’s claims, with some senators disowning his allegations and calling for a thorough investigation.

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Ekiti Governor Unveils Multi-Billion Naira Relief Programmes Amid Economic Crisis

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Biodun Oyebanji

Ekiti State Governor, Mr. Biodun Abayomi Oyebanji, has announced a comprehensive relief package aimed at alleviating the hardship faced by the people of the state.

The relief programs encompass various sectors to cushion the impact of the economic downturn.

One of the key initiatives entails clearing salary arrears amounting to over N2.7 billion owed to both State and Local Government workers.

This move signifies the government’s commitment to addressing the financial burdens faced by its workforce.

Furthermore, Governor Oyebanji has approved a substantial increase of N600 million per month in the subvention of autonomous institutions, including the Judiciary and tertiary institutions.

This augmentation is intended to enable these institutions to implement wage awards in alignment with State and Local Government workers’ salaries.

In addition to addressing salary arrears, the relief programs extend to pensioners, with the approval of payments totaling N1.5 billion for two months’ pension arrears.

Moreover, an increase in the monthly gratuity payment to state pensioners and local government pensioners will provide additional financial support, totaling N200 million monthly.

The relief initiatives also encompass agricultural and small-scale business sectors.

The allocation of funds for food production and livestock transformation projects underscores the government’s commitment to enhancing food security and economic sustainability at the grassroots level.

Governor Oyebanji emphasized that these relief programs are part of the state’s concerted efforts to mitigate the adverse effects of the economic downturn and foster shared prosperity.

The comprehensive nature of the initiatives reflects a proactive approach towards addressing the challenges faced by Ekiti State residents.

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President Tinubu Orders Immediate Settlement of N342m Electricity Bill for Presidential Villa

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President Bola Tinubu has directed the prompt settlement of a N342 million outstanding electricity bill owed by the Presidential Villa to the Abuja Electricity Distribution Company (AEDC).

This move comes in response to the reconciliation of accounts between the State House Management and the AEDC.

The AEDC had earlier threatened to disconnect electricity services to the Presidential Villa and 86 Federal Government Ministries, Departments, and Agencies (MDAs) over a total outstanding debt of N47.20 billion as of December 2023.

Contrary to the initial claim by the AEDC that the State House owed N923 million in electricity bills, the Presidency clarified that the actual outstanding amount is N342.35 million.

This discrepancy underscores the importance of accurate accounting and reconciliation between entities.

In a statement signed by President Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, the Presidency affirmed the commitment to settle the debt promptly.

Chief of Staff Femi Gbajabiamila assured that the debt would be paid to the AEDC before the end of the week.

The directive from the Presidency extends beyond the State House, as Gbajabiamila urged other MDAs to reconcile their accounts with the AEDC and settle their outstanding electricity bills.

The AEDC, on its part, issued a 10-day notice to the affected government agencies to settle their debts or face disconnection.

This development highlights the importance of financial accountability and responsible management of public utilities.

It also underscores the necessity for government entities to fulfill their financial obligations to service providers promptly, ensuring uninterrupted services and avoiding potential disruptions.

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