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Court Unfreezes Patience Jonathan’s $5.9m Account

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  • Court Unfreezes Patience Jonathan’s $5.9m Account

The Federal High Court in Lagos, on Thursday, vacated its order which late last year froze the Skye Bank account of Mrs. Patience Jonathan, the wife of ex-President Goodluck Jzonathan.

The account had a balance of $5.9m at the period.

In a ruling on Thursday, Justice Mojisola Olatoregun, set aside the ‘No-Debit Order’, which the Economic and Financial Crimes Commission had earlier placed on the account on allegations that the $5.9m found in it was proceeds of crime.

The judge upheld the contention of Patience’s lawyer, Mr. Ifedayo Adedipe (SAN), that his client’s account was unlawfully frozen by the EFCC.

Adedipe had urged the court to unfreeze Patience account on the grounds that she was not a party to the suit leading to the freezing order.

Citing judicial authorities, Adedipe contended that the suit was an abuse of court processes, contending that the court had no jurisdiction to make an order against someone who was not a party in a suit filed before the court.

The judge upheld the submission and therefore unfroze Patience’s account.

Justice Olatoregun said she had no option but to discharge the freezing order as the EFCC, despite being served with Patience application, did not file a counter-affidavit to oppose her prayers and all the averments contained in her affidavit.

She stated, “It is trite in law that an order cannot be made against any person who is not a party before the court.

“It was not controverted that Dame Patience Jonathan is not a party in the order obtained in this court.

“I hereby make an order unfreezing the Sky Bank account belonging to Dame Patience Jonathan forthwith,” the judge held.

Meanwhile, Adedipe also went before Justice Mohammed Idris of the same court, on Thursday, praying the judge to order the EFCC to release to Patience the sum of $15.591m, which was seized from four companies by the anti-graft agency.

Justice Idris adjourned to May 8, 2017 to decide whether or not to grant the prayer.

At the instance of the EFCC last year, Justice Olatoregun had made an interim order freezing multiple accounts linked to the former President’s wife.

The order was pursuant to an ex parte application by the anti-graft agency, wherein one of its operatives, Abdulahi Tukur, had told the judge that the funds retained in the said accounts were suspected proceeds of crime.

Tukur had told the judge that intelligence report by the anti-graft agency necessitated that the accounts be investigated, adding that it would be in the interest of justice that the accounts be frozen.

The accounts, opened in the names of companies and an individual, had a cumulative balance of N7,418,829,290.94 (N7.4bn) and $429,381.87.

Apart from Patience’s personal account, also affected are five companies, namely – Finchley Top Homes Limited, Aribawa Aruera, Magel Resort Limited, AM-PM Global Network Limited and Pansy Oil and Gas Limited.

Finchley Top Homes Limited’s account, number 1102001996 in Ecobank, with a balance of N226,376,700.23 and a fixed deposit of N1,099,511,484.88 was frozen.

Similarly affected were the company’s Skye Bank account number 1771731336, with a balance of N14,173,848.85; Fidelity Bank account number, 4011019539 with a balance of N1,800,494,000; Stanbic Bank account number, 0016901361, with a balance of N40,594,12.88; and Diamond Bank’s account 0019213687 with a balance of N39,418,712.12.

Aribawa Aruera Reachout Foundation opened account number 1222014221 with Ecobank and had a closing balance of N479,893,431.01, while Magel Resort Limited accounts (4011019546/5250059782) with Fidelity Bank had a subsisting balance of N1,000,494,000.

The company also operates a Zenith Bank account, number 1011744356, with a balance of N858,923,982, and a Diamond Bank account number 0024351590 with a balance of N174,166,207.00.

AM-PM Global Network Limited opened account number 0026718889 at Diamond Bank with a balance of N7,213,303.50.

The account number 4011019577, opened by Pansy Oil and Gas Limited at Fidelity Bank, had a balance of N1,809,666,494.68, while the company’s account in Diamond Bank had a balance of N55,930,024.50.

Also affected is one Esther Oba, with a balance of $429,381.87 in her account.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Government

Knocks, Kudos For Judiciary Over Stoppage of Allocations to Rivers State as Fubara Boasts of Coping Without FG’s Funds

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Siminalayi Fubara

A mixture of condemnation and praises has trailed a judgement of a Federal High Court that stopped the release of state allocations to the Rivers State Government.

Investors King had reported that Justice Joyce Abdulmalik of a Federal High Court in Abuja, on Wednesday, ordered the stoppage of the release of monthly federal allocations to Rivers State.

Justice Abdulmalik predicated her action on the grounds that the state government was in violation of the Constitution as regarding the state expenditures.

According to the judge, the current budget being operated by the state was not passed by a lawful arm of the Rivers State House of Assembly, therefore, Fubara is not entitled to allocations from the government at the centre.

Meanwhile, some stakeholders in the country have knocked the judiciary over the decision, calling on the Chief Justice of Nigeria, Justice Kudirat Kekere-Ekun to rein in on judges’ actions over the political crisis ravaging Rivers.

For former Vice President Atiku Abubakar, the judiciary should be cautioned against setting the South-South State on fire.

In a statement by his media adviser, Paul Ibe, the former Vice President, said it was appalling that some elements loyal to the Federal Government were pulling the strings from behind.

Atiku wondered why Justice Joyce Abdulmalik issued the order when it was public knowledge that Rivers State had already challenged the Court of Appeal’s judgement on the legality of Rivers State’s 2024 budget.

He, however, called on Justice Kekere-Ekun to ensure that those found wanting are disciplined in order to restore the fading glory of the nation’s judiciary.

In the same vein, Chief Emeka Kalu, National Coordinator of the Peoples Democratic Party (PDP) Coalition observed that the ongoing crisis plaguing Rivers State must be handled with caution to save it from unnecessarily being flamed in uncontrollable state of lawlessness.

Kalu in the statement said the judiciary is expected to maintain its integrity and protect her independence by working to avoid being politically purchased to harm democratic processes and the ethics of law.

According to him, the recent judgement by the Abuja Federal High Court division directing the RMAFC to stop releasing statutory monthly allocation to the State government was done out of bias and politically motivated plans to disrupt Fubara ‘s administration.

The group affirmed that it remains the height of injustice for a political party under the guise of personal interest to continue raising the dust of anarchy against the will of the people and the judiciary is expected to redeem and revitalize the failed system instead of allowing herself to be used to ruin the polity.

On the contrary, the National Democratic and Change Coalition has hailed the court for the judgment banning further release of allocations to Rivers and called on Governor Fubara to refund all monies spent without appropriation to the state coffers.

The coalition, while expressing satisfaction with the ruling, said the people of Rivers State have been vindicated and the long-awaited justice has been served on the governor.

Reacting via a press release by John Uloko, president of the coalition hailed Justice Joyce Abdulmalik for the judgment, saying that since January 2024, Rivers State had received and spent allocations based on an “illegitimate” budget, thereby describing it as a “constitutional aberration”.

The group, made up of lawyers, agreed with the court that Governor Siminalayi Fubara’s presentation of the 2024 budget before a four-member Rivers House of Assembly was an affront to the constitutional provision.

It added that the ruling is a victory for democracy and will teach rogue governors the bitter lesson that the Constitution of the Federal Republic must be respected and the sanctity of the nation’s democratic institutions upheld irrespective of their political desperation.

Nonetheless, the embattled Governor Fubara, on Wednesday said the restriction placed on the state allocations is “the least” of his problems.

Governor Fubara stated this during a special thanksgiving service organised by the state government to celebrate his administration’s resilience amid escalating political crises, which began with the arson attack on the State House of Assembly complex exactly one year ago.

Governor Fubara assured that despite the court order, his administration would continue payments to contractors and ensure workers’ salaries are disbursed from today (Thursday).

He also confirmed that allocations for the 23 Council Chairmen would be credited, as the Joint Accounts Allocation Committee procedures have been completed.

The governor encouraged his supporters to remain resilient, assuring them that all challenges are surmountable.

Reflecting on his administration’s success, Governor Fubara noted that despite predictions that his government would not last even a week, he has successfully led for over a year.

He said his administration has also conducted local government elections against all odds and maintained a full cabinet despite attempts to undermine his leadership through resignations.

Highlighting his administration’s progress, he mentioned ongoing project executions across the state, countering critics who claimed he would be unable to deliver.

He also cited recent reports that position Rivers State as one of the leaders in financial accountability and transparency.

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Government

Court Bars FG From Giving Monthly Allocation To Rivers Government

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Siminalayi Fubara

The Federal High Court in Abuja has restrained the Federal Government of Nigeria from giving monthly constitutional allocation to Rivers State Government.

Specifically, the court presided over by Justice Joyce Abdulmalik stopped the Central Bank of Nigeria (CBN), the Accountant General of the Federation, Zenith Bank and Access Bank from further allowing Fubara to access money from the Consolidated Revenue and Federation Account.

Justice Abdulmalik stated while delivering the order on Wednesday that further release of monthly financial allocations to the Rivers State government is unconstitutional and an aberration.

The court maintained that the previous collection and disbursement of monthly allocations since January this year by Governor Siminalayi Fubara is a constitutional somersault and aberration that must not be allowed to continue.

The judge anchored his decision on the manner in which Governor Fubara presented the 2024 budget, stressing that the presentation of the fiscal document before a 4-member Rivers House of Assembly was an affront to the Constitutional provision.

He said that Fubara action in implementing unlawful budget smacked gross violations of the 1999 Constitution he swore to protect.

Abdulmalik then stopped the CBN, the Accountant General of the Federation, Zenith Bank and Access Bank from further allowing Fubara to access money from the Consolidated Revenue and Federation Account.

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Government

Senate Postpones Screening Of Ministerial Nominees, Gives Reasons

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Senate President Akpabio

Nigerian Senate has shifted the scheduled screening for ministerial nominees, initially set for today.

The postponement of the exercise to Wednesday is to enable the nominees provide all needed documents as well as allow for sufficient time to complete their documentation and pre-screening processes.

The announcement was contained in a statement signed on Tuesday by the Special Adviser to the President on Senate Matters, Senator Basheer Lado.

According to Lado, the screening will hold on Wednesday, at 12:00 pm.

Lado, while explaining the reason for the postponement said the scheduled screening of ministerial nominees was shifted by the Senate, adding that it is to allow all nominees to conclude all aspects of documentation and pre-screening exercises.

He said the Office of the Special Adviser to the President on Senate Matters thanked the public for their understanding and cooperation.

Recall that the Special Adviser to the President had on Monday disclosed in a statement that the screening will hold today.

President Tinubu had written the Senate, seeking the screening and subsequent confirmation of appointments of seven ministerial nominees announced in Abuja last Wednesday.

Tinubu’s request was contained in a letter addressed to the President of the Senate, Senator Godswill Akpabio, and read last Thursday during plenary.

According to the letter, the ministerial nominees were Dr Nentawe Yilwatda, Minister of Humanitarian Affairs and Poverty Reduction; Muhammadu Maigari Dingyadi, Minister of Labour and Employment; and Bianca Odinaka Odumegu-Ojukwu, Minister of State, Foreign Affairs.

Others were Dr Jumoke Oduwole, Minister of Industry, Trade and Development; Idi Muktar Maiha, Minister of Livestock Development; Rt Hon Yusuf Abdullahi Ata, Minister of State, Housing; and Dr Suwaiba Said Ahmad, Minister of State, Education.

President Tinubu in the letter had sought expeditious consideration of his request by the Senate.

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