News

$50m Fraud: Wike Orders Prosecution Of Amaechi, Tonye Cole, Others

Published

4 years ago

June 10, 2022

Governor of Rivers State, Nyesom Wike, has directed the Attorney-General and Commissioner for Justice, Prof. Zacchaeus Adangor, to commence diligent prosecution of the alleged illegal financial dealings involving the immediate past governor, Rotimi Amaechi, Mr. Tonye Cole, Sahara Energy, and others over the sale of state assets.

Wike gave the directive on Friday at the Executive Chamber of Government House, Port Harcourt, after swearing in three new commissioners.

The new commissioners are Prof. Zacchaeus Adangor as Attorney General and Commissioner for Justice, Hon. Isaac Kamalu as Commissioner of Finance, Budget and Economic Planning and Dr. George-Kelly, Dakorinama Alabo as Commissioner for Works and Special Projects.

This was contained in a statement issued by Kelvin Ebiri, media aide to Governor Wike in Port Harcourt on Friday.

“Attorney General, you’re at a critical period where people want to know what the State is going to do with the Judiciary Panel of Inquiry after the Supreme Court judgement on it. Luckily, you came at the right time when we have preferred criminal charges against the former governor (Amaechi), Sahara Energy, Tonye Cole and the rest of them,” Wike said.

He said there was a need for Rivers people and the rest of the world to know what actually happened to the $50 million that disappeared from the state’s account without proof of where it was deployed.

“So, you are coming at the right time to take over the matter and to make sure it is prosecuted diligently. I don’t want to hear excuses. Let the people see what happened to our money.

“The world will see how $50 million Dollar from our account was moved to a company without nothing to show whether there was a business,” the governor said.

Meanwhile, Wike also directed Adangor to write a strong-worded protest letter to the Economic and Financial Crime Commission over the harassment of State’s Peoples Democratic Party governorship candidate, Siminalaye Fubara.

The protest letter to be written to EFCC, Wike said, was predicated on the fact that, recently, its officers attempted to harass and intimidate Fubara, who before his emergence as the PDP governorship candidate, had served as the Accountant General of Rivers State.

The governor said EFCC needs to know that the era of impunity and flagrant disobedience to the rule of law was gone, saying his administration will not accept such behaviour.

He maintained that the attempt to harass the state PDP candidate will not be accepted as the state government will not hesitate to charge the EFCC for contempt.

Wike explained that before now, the Rivers state government had gotten a subsisting court judgment against the EFCC that it cannot investigate the state finances or its officers.

He said there was also another judgment against EFCC by the PDP governorship candidate to enforce his fundamental rights, which have not been set aside.

“Rivers State government had a judgment against EFCC since 2007. The court said you (EFCC) have no business in the financial transactions of the (Rivers) State. EFCC has been struggling to set aside that judgement until now. They have not even appealed it,” Wike stated.

The governor noted that nobody will accept the use of EFCC in such political period to intimidate persons in order to achieve their skewed political goals.

“We are in a political period. People should not think that they will use EFCC to intimidate or manipulate him (Fubara). Nobody will accept that. So you (Attorney General) have to attach the judgment of the candidate against EFCC and send the right signal to them that we are not people that can be cowed,” he added.

PUNCH.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

1 hour ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

1 hour ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.

News

N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs

Published

4 hours ago

May 6, 2026

Editor

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.

Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.

“Women-led enterprises are critical to economic activity, yet they face structural barriers.

This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).

“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”

Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.