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Abia Govt. moves to Reclaim “Mismanaged” Aba Shoe Factory

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The Abia Government says it has revoked the land title and taken steps to reclaim the assets of the Enyimba Automated Shoe Company (ENASCO) in Aba, Abia’s commercial hub.Mr Ukoha Njoku, the Chief Press Secretary to Gov. Alex Otti, disclosed this in a statement made available to newsmen in Umuahia on Friday.

Ukoha stated that the decision to revoke the land title “followed a comprehensive regulatory, financial and operational review undertaken by reputable Big Four professional service firms”.
He further stated that the firms “unravelled significant discrepancies and corporate governance-related issues within ENASCO.“ENASCO was established in 2020, under the administration of ex-Gov.
Okezie Ikpeazu with equipment imported from Turkey and had a projected annual production capacity of two million pairs of shoes.“The goal was to elevate the state’s leather industry by producing high-quality footwear for the local and international market.“The Abia State Government (ABSG) contributed significantly to the company’s assets, including land, buildings, and equipment,” the CPS added.According to him, the Abia Government made a contribution estimated at over N158 million in assets and cash contributions of about N41.9 million to the shoe factory.“These contributions from public resources represented over 70 per cent of the cash and assets contributed to the business to date,” he added.Ukoha, however, noted that although ABSG had the highest shares in ENASCO, “its shareholding structure at the Corporate Affairs Commission (CAC), as at November 2024, did not reflect Abia as a shareholder or beneficial owner”.He argued that changes were made to the shareholding structure in July 2023, shortly after Otti took office, yet, ABSG was still not mentioned as a shareholder in any CAC document.Ukoha stated: “The shareholders on the CAC record as of April 3 are Nwakile John Chidi, Udeagbala John Chinyelu, Nwaogu Chinenye, Sam Hart and Macauley Atasie.“Five of them had 445,900 shares, 219,600 shares, 111,500 shares, 111,500 shares, and 111,500 shares, respectively.“This demonstrated a clear intention to covet and misappropriate government investment and assets.Ukoha further stated that ENASCO’s financial performance showed a consistent decline in revenue and significant retained losses, amounting to N115.7 million as at October 2024.He explained that the company also relied heavily on deposits for shares to fund its operations, which grew to N88.9 million within the period under review.“There is sufficient evidence of lack of a Corporate Governance Framework, Board Charter, statutory audits, and compliance with tax obligations in ENASCO’s management,” he stated.He further noted a clear evidence of the utilisation of funds, amounting to N97,7 million from shareholders’ deposits, without proper documentation or validation of expenses.Ukoha argued that “in the light of the aforementioned issues, the ABSG convened an all stakeholders’ meeting on April 23 to address the concerns highlighted in the report.“The primary focus was the lack of ABSG representation in ENASCO’s shareholding and on the Board of Directors, despite the huge contribution of public funds and assets to ENASCO.“Unfortunately, the meeting ended with the acclaimed existing shareholders resisting to restructure the company’s shareholding to reflect ABSG’s contributions.“They also refused to accept the appointment of Directors to represent ABSG’s interest on the board,” Ukoha further stated.He contended that the posture of the alleged shareholders was not only untenable but ridiculous.He stated that it was “unacceptable that despite the overwhelming financial and asset contributions made by ABSG to the company, the state does not hold a single share in ENASCO”.He added that government’s action toward reclaiming the company was to ensure accountability and protect public interest.Ukoha explained that, in addition to what has been done, the government had decided to take legal actions to recover any additional funds or assets misappropriated by ENASCO’S management.“The ABSG is committed to ensuring transparency, accountability, good and corporate governance in the management of public assets held under its custody in trust.“The irregularities observed and shareholders unwillingness to remediate ABSG’s concerns had resulted in government taking the necessary steps to revoke the land title to reclaim the state’s assets and resources,” Ukoha added.He further stated that the state acted to protect the interest of its citizens and that government would continue to create conducive environment for businesses and genuine investors to thrive. (NAN)

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NPC Commissioner Designate Donates N55m Classrooms to Nasarawa Community

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Dr Joseph Kigbu, newly appointed Federal Commissioner, National Population Commission (NPC) representing Nasarawa State, has donated a classroom block worth N55 million to the Barki Abdullahi (BAD) community, Lafia Local Government Area.

Kigbu inaugurated and handed over the project at the Roman Catholic Mission (RCM) Primary School to government on Friday in Barki Abdullahi.

He said that the donation was meant to give back to the community that made him what he had become in the society.

Kigbu, a former Federal lawmaker representing Lafia/Obi Federal Constituency in the House of Representatives, was recently appointed by President Bola Tinubu as a Commissioner to represent Nasarawa State at the NPC, but yet to assume office.

He explained that the structure consisted of three classrooms, an office, all connected to solar system, and national power grid.

“This is the school I attended and since God has blessed us, we must support the school and make it more conducive for learning.

“Students in our villages do not need to go to schools in cities before they use electricity to learn,” he added.

Kigbu said he had dedicated his life to serving humanity both in and out of public office.

He said: “Even before I was elected to the House of Representatives in 2011, I had a medical forum that offered free medical treatments to indigent people across the state.

“While in public office, there was no part of my constituency that I had not made a mark in terms of projects and empowerment.

“I gave them quality representation, and the free medical treatments are still ongoing  in the state and other parts of the country.

“I have also completed the building of the multi-billion naira hospital for the poor in Azuba, Lafia.

“The hospital, equipped with state-of-the-art equipments, would begin operation in September 2025.

“The hospital is for the poor and services will be free of charge by the grace of God.”

He also used the opportunity to appreciate President Tinubu and Gov. Abdullahi Sule for his recent appointment as a federal commissioner to represent the state in NPC.

He further declared his intention to join the 2027 governorship race in the state.

Receiving the project, Gov. Abdullahi Sule represented by Mohammed Sani-Bala, Permanent Secretary, Ministry of Education, thanked the philanthropist for the gesture.

He described the project as special one  that would go a long way to complement the effort of the government toward providing quality education in the state.

Similarly, Dr Aliyu Bello, Nasarawa State Chairman of All Progressives Congress (APC), appreciated the donor for his philanthropic efforts.

Bello congratulated Kigbu on his new appointment and called on other leaders to emulate him and give back to their communities. (NAN).

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BEDC Rejects Alleged Takeover Plot by Ondo Govt, Urges Respect for Regulatory Framework

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The Benin Electricity Distribution Company (BEDC) and its subsidiary, BEDC Electricity Ondo Limited (BEOL), have strongly condemned an alleged plan by the Ondo State Government to assume control of electricity distribution operations in the state.The condemnation was issued in a statement responding to the announcement by the Special Assistant to the Ondo State Governor on Power, describing the state government’s move as illegal, provocative, and disruptive to ongoing partnerships.

BEDC’s statement was released on Friday in Benin by its Chief Revenue Cycle Manager, Mr Collins Igwe.According to Igwe, while the Electricity Act 2023 empowers states to regulate their electricity markets, it does not authorise them to unilaterally take over distribution operations.
BEDC stated that any such move would violate the joint communiqué reached after a strategic meeting between BEDC/BEOL and the Ondo state government aimed at addressing power challenges.“Any such move undermines the spirit of collaboration and mutual understanding agreed upon to resolve electricity issues in the state.“We have a legal mandate to operate in Ondo. This attempted encroachment is unacceptable,” Igwe said.He emphasised that the power supply challenges in Ondo were part of broader national issues, and reiterated BEDC’s commitment—through BEOL—to implementing long-term, sustainable solutions.“We are open to partnerships, but any approach must respect due legal processes and the agreements made in good faith,” he added.Igwe also explained that the jointly signed communiqué established a clear roadmap for collaborative solutions.He said it recommended the creation of a power supply committee to address electricity access in underserved and unserved communities through a mutually agreed framework.The company warned that any unilateral action or interference in its operations would constitute a breach of agreement and could disrupt electricity distribution services across the state.“The company reaffirmed that it remains the duly licensed operator in Ondo and will protect its infrastructure in line with Nigerian laws and regulatory standards.“We call on those currently attempting to interfere with our infrastructure to desist immediately to avoid legal consequences,” the statement said.Igwe further urged the public to disregard the controversial publication, describing it as misleading, unauthorised, and detrimental to ongoing collaborative efforts.He reaffirmed the company’s commitment to delivering improved electricity services in Ondo state, prioritising transparency, legal compliance, and community engagement.“We remain focused on constructive dialogue with all stakeholders to ensure sustained progress and stability in Ondo state’s power sector,” Igwe said.(NAN)

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EFCC Arrests 78 Suspected Internet Fraudsters in Nasarawa, Abia, Kano

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The Economic and Financial Crimes Commission (EFCC) has arrested 78 suspected internet fraudsters in Kano, Nasarawa and Abia.

Its spokesperson, Dele Oyewale, said this in a statement on Friday in Abuja.

He said that the EFCC operatives on Friday, arrested 43 suspected internet fraudsters in Toto, Nasarawa State.

According to him, their arrest followed actionable intelligence which linked them to fraudulent internet activities.

”Items recovered from them include five motorcycles, 64 mobile phones, four laptop computers and an iPad,’ he said.

Oyewale said that in a related development, the EFCC’s operatives  on Thursday arrested 30 suspected internet fraudsters at Ariam and Ubakala in Abia.

He said the items recovered from them included four cars, one iPad, three laptop computers, one sound system, fourty two cell phones and one external hard drive.

”In the same vein, operatives of the  Kano Zonal Directorate  of the Commission equally arrested five suspected cyber criminals in Kano.

”The suspects were apprehended on Tuesday, during a sting operation at Farm Centre, Kano following actionable intelligence on their alleged involvement in internet fraud and related financial crimes.

 ”The suspects were arrested alongside their mobile phones,” he said.

According to him, all the suspects will be arraigned in court upon conclusion of investigations,” he said. (NAN)

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