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A Federal High Court in Abuja has ordered Senator Victor Umeh, representing Anambra Central Senatorial District, to pay N135,722,303.40k along with accrued interest to the Asset Management Corporation of Nigeria (AMCON) over his unpaid bank loan.

Justice Inyang Edem Ekwo issued the order in a judgement delivered in a suit marked: FHC/ABJ/AMC/12/2022 filed by AMCON.

Justice Ekwo, who declared that Umeh was actually indebted to AMCON, issued an order directing the forfeiture of Umeh’s 5,000,000 units of Skye Bank shares in the records of the Central Securities & Clearing System to AMCON.

The judge also awarded a cost of N2m in favour of AMCON and against Umeh, who is currently the Chairman, Senate Committee on Diaspora.

According to court documents filed by AMCON, Umeh got a loan of N23,250,000.00 from the now defunct Skye Bank in January 2008 “to enable him invest in and purchase shares of a financial institution in Nigeria.

“The tenor of the credit facility granted the defendant was specifically fixed for 356 days.

“The offer letter contained various other explicit terms and conditions, which the defendant accepted by duly executing the memorandum of acceptance.

“The defendant utilised the funds granted to him as credit facilities by the bank. However, at the expiration of the tenor of the facility, the defendant failed and neglected to liquidate the credit facility as per the contract.”

AMCON stated that it later acquired the unpaid debt when Skye Bank became unsuccessful in making Umeh repay.

It added that its suit was to recover the debt, which stood at N135,722,303.40k as of April 2011.

Justice Ekwo, in his judgement, noted that despite being served with court documents in relation to the case, Umeh failed to file any response or make any effort to enter a defence.

The judge said: “It is to be noted at this point that the defendant, upon being served, failed to enter a defence in this case.

“It is trite law that the net effect of the failure of a defendant to file pleadings is that the assertions of the claimant in his pleadings stands unchallenged and are deemed admitted and established

“It is also true that the effect of a defendant’s failure to call evidence in defense of the claims against him at the trial is that he is presumed to have admitted the case made against him by the claimant.”

The judge added that despite Umeh’s failure to file a defence, the plaintiff was able to prove it’s case through the evidence it presented.

He held that, based on the evidence presented by the plaintiff, “the indebtedness of the defendant has been proven.

“I find that the plaintiff has established its case by preponderance of evidence as required by law.

“Consequently, judgement is entered per terms as follows:

*A declaration is hereby made that the defendant is indebted to the plaintiff, in the sum of N135,722,303.40 representing the principal debt sum plus all the accrued interest and charges, at the rate of 15 percent per annum drawn up to January 25, 2021, being the sum due and outstanding from the defendant to the plaintiff.

*A declaration is hereby made mandating the defendant to pay to the plaintiff the sum of N135,722,303.40 representing the principal debt sum, plus all the accrued interest and charges, at the rate of 15 percent per annum drawn up to January 25, 2021, in settlement of the debt due and outstanding from the defendant to the plaintiff.

*An order is hereby made mandating the defendant to pay the plaintiff a sum representing 15 percent of the principal sum as interest on the judgement sum from January 26, 2021, until the date of delivery of the judgement.

*An order is hereby made mandating the defendant to pay the plaintiff a sum representing 15 percent of the judgement sum as interest on the judgement sum, from the date of delivery of the judgement till the date of full and final liquidation of same.

*A declaration is hereby made that the defendant is liable to a total forfeiture and divestment of all his title, rights, interests, benefits, and claims in respect of the 5,000,000 shares of Skye Bank shares in the record of the Central Secures & Cleaning System while the plaintiff is entitied to take over, as beneficial owner, all the title, rights, interests, benefits and claims in respect of same.

*An order of final foreclosure and final forfeiture is hereby made foreclosing and divesting the defendant of his title, rights and interests, in respect of the 5,000,000 units of Skye Bank shares in the records of the Central Securities & Clearing System and vesting same in the plaintiff in furtherance of part liquidation and satisfaction of the outstanding debt obligation of the defendants due to the plaintiff.

*An order is hereby made mandating the defendant to pay to the plaintiff the sum of N2,000,000 00 as costs for filing and pursuing this claim.”

The Nigerian Senate has summoned security chiefs for an interaction, following the escalating insecurity in the country, with a specific date to be decided later.

Rising from a closed-door meeting that lasted over three hours, the senate condemned the increasing incidents of kidnappings, banditry and the outright murder of innocent citizens by criminals.

Senate Leader, Michael Bamidele Opeyemi, revealed that the motion on insecurity was sponsored by all 109 senators due to its paramount importance.

Senate President Godswill Akpabio, in his remarks, lamented the continuous banditry and kidnappings.

He noted that the situation has reached a point where middlemen are involved in collecting ransom on behalf of kidnappers.

He strongly condemned recent attacks in Plateau by bandits and the gas explosion in Ibadan, the capital of Oyo State.

Senate President Godswill Akpabio, in his remarks, lamented the continuous banditry and kidnappings.

He noted that the situation has reached a point where middlemen are involved in collecting ransom on behalf of kidnappers.

He strongly condemned recent attacks in Plateau by bandits and the gas explosion in Ibadan, the capital of Oyo State.

Akpabio added that a specific date will be determined for the security chiefs to appear before the Senate.

The lawmakers observed a one-minute silence in honour of those who lost their lives in the attacks and the Ibadan explosion before adjourning until Tuesday, February 6, 2024.

The immediate past governor of Kogi State, Yahaya Bello, is reportedly in hiding and has canceled a planned trip to Okene town to avoid encountering operatives of the Economic and Financial Crimes Commission (EFCC) who are said to be seeking him for questioning.

Top government sources suggest that Bello is currently at the Government House, Lokoja, enjoying the “protection” of his predecessor and godson, Usman Ododo.

Sahara Reporters quoted government sources saying Bello canceled his trip to Okene upon learning of the EFCC’s presence.

Some sources claim he is still at the Government House in Lokoja, while others suggest that his location remains unknown.

It had been previously reported that the EFCC’s suit seeking the forfeiture of 14 properties belonging to Bello and the sum of N400 million linked to him was struck out by Justice Nicholas Oweibo of the Federal High Court in Ikoyi, Lagos.

The court cited Bello’s immunity from prosecution under the 1999 constitution during his tenure as governor.

The EFCC, however, filed a notice of appeal, arguing that the court erred in dismissing the suit based on the respondent’s immunity, emphasizing that the immunity does not extend to properties reasonably suspected to be proceeds of crime traced to him.

It is expected that further details will emerge as the situation unfolds.

President Bola Ahmed Tinubu has formally inaugurated a 37-man Tripartite Committee to fashion out a new National Minimum Wage.

Vice President, Kashim Shettima inaugurated the committee on behalf of the President, who is on a private visit to France.

Former Head of Civil Service of the Federation, Alhaji Bukar Goni Aji, is chairing the Committee.

Prior to the inauguration, Shettima charged the committee members to explore collective bargaining to come up with an acceptable recommendation on a new wage policy.

Members of the committee cut across the Federal Government, State Government, Private Sector and the Organised Labour.

From the Federal Government level, the members include Hon. Nkeiruka Onyejeocha, Hon. Minister of State, Labour and Employment (Representing Hon. Minister of Labour and Employment), Mr. Wale Edun, Hon. Minister of Finance & Coordinating Minister of the Economy; Alhaji Atiku Bagudu, Hon. Minister of Budget Economic Planning; Dr. (Mrs) Yemi Esan, Head of the Civil Service of the Federation; Dr. Nnamdi Maurice Mbaeri, Permanent Secretary, GSO. OSGF and Ekpo Nta, Esq, Chairman/CEO, NSIWC – Member/Secretary.

From the State Government level, Alh. Mohammed Umar Bago, Governor, Niger State- representative from North Central; Sen. Bala Mohammed, Governor Bauchi State- representative from North East; Alh. Umar Dikko Radda, Governor Katsina State- representative from North West; Prof. Charles Soludo, Governor, Anambra State- representative from the South East; Sen. Ademola Adeleke, Governor, Osun State- representative from South West; Mr. Otu Bassey Edet, Governor, Cross River State- representative from South West.

From the Nigeria Employers’ Consultative Association (NECA)- Adewale-Smatt Oyerinde, Director-General, NECA; Mr. Chuma Nwankwo; Mr. Thompson Akpabio with also members from the Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) include Asiwaju (Dr) Michael Olawale-Cole, National President; Hon. (Dr) Ahmed Rabiu, National Vice President and Chief Humphrey Ngonadi (NPOM), National Life President.

The members from the National Association of Small and Medium Enterprise (NASME) are Dr. Abdulrashid Yerima, President & Chairman of Council; Hon. Theophilus Nnorom Okwuchukwu, Private Sector representative, Dr. Muhammed Nura Bello, Zonal Vice President, North West and also from the Manufacturers Association of Nigeria (MAN) are Mrs. Grace Omo-Lamai, Human Resource Director, Nigerian Breweries; Segun Ajayi-Kadir, mni, Director-General, MAN; Lady Ada Chukwudozie, Managing Director, Dozzy Oil and Gas Limited.

The Nigerian Association of Resident Doctors at the Dalhatu Araf Specialist Hospital, DASH, Lafia, Nasarawa State, has declared a 72-hour protest strike, effective immediately.

The decision to embark on the strike was announced on Tuesday morning, just hours after a distressing incident unfolded at the state-owned hospital.

A doctor on duty became the victim of an assault perpetrated by a male relative of a patient whose identity remains confidential.

Protesting against incessant aggression towards its members and other healthcare workers, the association, alongside supporting hospital staff, convened a demonstration within the hospital premises.

Armed with placards bearing various messages, they pleaded for intervention from government authorities and other relevant bodies to swiftly curtail the surge in assaults on healthcare professionals within the state.

Former Vice President Atiku Abubakar’s media aide, Paul Ibe, has said his principal was not silent on the January 16 explosion that killed five persons, injured 77 and destroyed 58 houses in the Old Bodija area of Ibadan, Oyo State.

Ibe was reacting to Oyo State Governor, Seyi Makinde, who remarked on Monday that Atiku had not reached out or condoled with the government and people of Oyo State over the tragic incident.

Makinde stated this in Ibadan when a former governor of Anambra State and presidential candidate of the Labour Party in the last general elections, Peter Obi, paid him a condolence visit over the January 16 explosion.

Makinde said, “Let me use this opportunity to thank former governor of Anambra State and presidential candidate of the Labour Party, Peter Obi, for the visit. I thank him because politics didn’t seep into this. You came here to commiserate with us over the explosion. Actually, the investigation is going on. It was simply illegal miners storing explosives in an environment where they shouldn’t be.

“It is a place where meant for people to live in; It’s not a mining site. So, all the lapses that allowed such to happen have been looked into.

“I am particularly grateful because the musketeers that went for the presidential election have reached out to me. The President has called me, and you have reached out to me, but my own party candidate, Atiku Abubakar, has not called or even sent a text message.

“And I am saying it openly so that our leaders will know that there is time for politics. You have a time for governance and you have a time for humanity. So, we want to say thank you so much, sir. We appreciate this visit.”

But reacting, Ibe said Atiku had condoled with the Oyo people over the incident.

He said, “With due respect to Governor Seyi Makinde, we wish to correct his expression about the response of His Excellency Atiku Abubakar to the recent explosion in the city of Ibadan.

“Atiku Abubakar made a condolence message about the Ibadan explosion, less than 24 hours of its occurrence, where he shared his commiseration and empathy with the good people and government of Oyo State over the incident.

“Perhaps the Governor has been too busy to take track of media reports on the incident. But we wish to put on record that on the 17th of January, His Excellency Atiku Abubakar did make a widely available message on the Ibadan incident.”

Atiku has blamed his defeat in the 2023 presidential election on the refusal of Makinde and four other PDP governors to support his ambition.

Makinde and the other PDP governors, who called themselves G-5 governors, supported President Bola Tinubu of the All Progressives Congress in the February 25, 2023 presidential election.

Meanwhile, Obi, during his visit to Ibadan, said, “Through the governor, we want to extend our condolences to the bereaved families and to all those who lost their valuable property in the incident and to assure them of our prayers that God will grant those who lost their lives eternal rest. And we want to thank the government for its prompt response and that is what governance has to be.”

Speaking on the economic situation of the country and its effect on the masses, Obi called for a cut in the cost of governance at the federal level as a necessary sacrifice to move the country forward.

“All of us are now involved, and all of us should work hard and make the necessary sacrifices to see that we turn around the situation. That is why it is necessary when things happened here, and the government responded in a manner the government should respond and everybody comes to participate and commend them for doing the right thing.

“It’s a matter of sacrifice, today, elections are over, governance is the key thing and what is required, for me, is to cut down the cost of governance, especially at the federal level. It is unacceptable the way it is going; we need to prioritise critical areas, such as education, health and pulling people out of poverty,” he said.

At least 1,500 members of staff of the Central Bank of Nigeria will on Friday resume at its Lagos office following their redeployment from the headquarters, The PUNCH has learned.

A source at the apex bank told our correspondent exclusively that the plan, though heavily criticised, was still in motion, and affected staffers would be resuming on Friday.

“Yes, the plan is still on and they will resume work by February 2, which is the first week of next month,” an official said.

The latest development comes on the backdrop of the decision of the new management to relocate some of CBN’s departments to the country’s economic hub for staff safety, increased productivity, and to decongest its head office.

CBN said the action was necessitated by several factors, including the need to align the bank’s structure with its functions and objectives and redistribute skills to ensure a more even geographical spread of talent.

It added that it was also in compliance with building regulations, as indicated by repeated warnings from the facility manager, and the findings and recommendations of the Committee on Decongestion of the CBN Head Office.

A memo issued to staff read, “This is to notify all staff members at the CBN Head Office that we have initiated a decongestion action plan designed to optimise the operational environment of the Bank.

“This initiative aims to ensure compliance with building safety standards and enhance the efficient utilisation of our office space.”

According to reports, the departments penciled down for relocation by the CBN governor Yemi Cardoso include Banking Supervision, Other Financial Institutions Supervision, Consumer Protection Department, Payment System Management Department, and Financial Policy Regulations Department.