Connect with us

Government

Ex-perm Sec Forfeits N664m, $137,680 to FG

Published

on

court
  • Ex-perm Sec Forfeits N664m, $137,680 to FG

The Federal High Court in Lagos on Tuesday ordered a former Permanent Secretary in the Federal Ministry of Labour and Employment, Clement Onubuogo, to forfeit to the Federal Government the sums of N664,475,246.6 and $137,680.11 found in his bank accounts.

Justice Saliu Saidu gave the forfeiture order in response to an application by the Economic and Financial Crimes Commission.

Onubuogo did not oppose application.

The EFCC told the court that the permanent secretary diverted the funds from Sure-P, a youth empowerment programme initiated by former President Goodluck Jonathan.

At the Tuesday’s proceedings, Onubuogo’s lawyer, Mr. T.S. Awana, told Justice Saidu that his client had opted for an out-of-court settlement with the EFCC.

He said he was, in response to the out-of-court settlement move, withdrawing two applications he earlier filed in opposition to the move by the EFCC to have his properties forfeited.

Consequently, Justice Saidu struck out the two applications.

One of the applications challenged the court’s jurisdiction to hear the case while the other prayed the court to discharge an interim forfeiture order made in respect of Onubuogo’s landed properties and funds.

The court had in August last year ordered the permanent secretary to temporarily forfeit to the Federal Government the sums of N664,475,246.6 and $137,680.11 found in his bank accounts.

The court also ordered him to forfeit temporarily two landed properties.

One of the properties was Onubuogo’s house known as Clement Illoh’s Mansion located at Ikom Quarters, Issele-Azagba in Delta State, while the other, a hotel, is said to be located at No. 19, Madue Nwofor Street, off Achala Ibuzo Road, Asaba, Delta State.

Counsel for the EFCC, Mr. Rotimi Oyedepo, told Justice Saidu that based on the out-of-court settlement, the anti-graft agency would only be praying for the permanent forfeiture of the funds but not the properties.

He said, “In view of the discussion with the defendant, we want to move the motion of the 5th of September, 2017 wherein we are seeking the final forfeiture of the properties listed in prayers 1, 2, 3 and 4.”

Awana did not oppose the application. Justice Saidu consequently granted same as prayed.

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.

Continue Reading
Comments

Government

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

Published

on

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.

Continue Reading

Government

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

Published

on

power project

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.

Continue Reading

Government

Abuja Electricity Distribution Company Issues Ultimatum to 86 Government Agencies Over N47bn Debt

Published

on

Power - Investors King

The Abuja Electricity Distribution Company (AEDC) has issued an ultimatum to 86 government agencies, including the Presidential Villa, owing a collective debt of N47 billion.

The notice comes as a response to the prolonged failure of these agencies to settle their outstanding electricity bills.

According to the public notice released by the AEDC management, some of the highest debts are attributed to prominent entities such as the National Security Adviser (owing N95.9 billion), the Chief of Defence staff barracks, and military formations (indebted to the tune of N12 billion).

Also, several ministries, including the Ministry of the Federal Capital Territory and the Ministry of Power, have sizable outstanding bills.

The AEDC has expressed its frustration over the inability of these government bodies to honor their financial obligations despite previous attempts to facilitate payment.

In response, the company has warned of imminent disconnection of services if the outstanding debts are not settled within 10 days of the notice.

The outstanding debts are attributed to various factors including the devaluation of the naira, cash scarcity resulting from demonetization programs, high inflation rates, removal of fuel subsidies, and foreign exchange challenges.

These financial burdens have adversely impacted the operations of the AEDC, contributing to a loss of N99 million in foreign exchange alone.

As the deadline for payment approaches, government agencies are under pressure to address their outstanding debts to avoid service disruptions.

The AEDC remains steadfast in its commitment to ensuring that all entities fulfill their financial obligations, underscoring the importance of prompt payment for uninterrupted electricity services.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending