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Benue Govt Drags NDIC, Bank to Court over Illegal Sale of Shares

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From Attah Ede, Makurdi

The Benue Investment and Property Company (BIPC) yesterday pulled the Nigeria Deposit Insurance Corporation (NDIC) and All States Trust Bank (in-liquidation) to court over illegal sale of shares belonging to the state and demanded for a refund of N8.

6 billion as claims and general damages.

It would be recalled that the case which was started in 2011, was discontinued due to a request by NDIC for an out of court settlement and the parties went to Arbitration Panel in Abuja.

However, the panel could not resolve the matter because the NDIC later preferred to continue with the case in court.

When the case came up for hearing at the Federal High Court sitting in Makurdi, the  Counsel to the plaintiff, Douglas Pepe SAN called one of their chief witnesses, Paul Agu, a former staff and MD/CEO of the company.

Agu intimated the court that the plaintiff applied for a loan facility of N550m from the Federal Mortgage Bank and pledged some of her shares to All States Bank (in -liquidation) for the Bank to guarantee the loan.

He explained that the money was to come through the liquidated bank adding that the bank was to take her commission and stand as their guarantor before the mortgage bank.

He said the bank failed to meet her contractual agreements with the plaintiff yet started deducting charges from their account.

He said the bank also failed to complete the process of opening the letter of credit as required in such cases.

Pepe through his star witness tendered 32 documents to support their position.

Among the documents tendered were bank statements of the plaintiff in All States Bank (in -liquidation) between August 1, 2002 and December 31, 2003.

He also tendered details of transfers of shares sold by the respondents and closed their case.

However, the respondents presented by Aondover Iorngee after cross examination requested for date for defence.

The plaintiff in the suit, while given the breakdown of the transitions, said BIPC  applied for a loan facility of N550m from the Federal Mortgage Bank and pledged some of her shares to All States Bank (in -liquidation) for the Bank to guarantee the loan.

The plaintiff further stated that the respondents who did not fulfill her part of the contract agreements, charged them arbitrarily and sold their shares placed in their custody as collateral.

BIPC therefore, urged the court to order the respondents to pay N2. 6bn has lost income for her inability to trade with stocks which were pledged as collateral and has been with them since 2002.

They also pay the shares which in 2007 were valued at over 740m at the time of transaction and appreciated to over N5.5bn in 2007.

They should also pay N99.5m being proceeds of the shares illegally sold and N62.8m being value of lost dividends and bonuses over the period.

The plaintiff therefore, asked the court to order the respondents to pay N2bn as general damages, totalling N8.6 billion.

The presiding judge, Justice Raphael Egbe, however adjourned the case to May 5, 2025 for opening of defence.

NEWS

NAGAFF Seeks One-Year Extension for Customs Officers Facing Retirement

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By Tambaya Julius, Abuja

The National Association of Government Approved Freight Forwarders (NAGAFF) has appealed to President Bola Tinubu to grant a one-year extension to senior officers of the Nigeria Customs Service (NCS) due to retire by December.

The association said the extension would help maintain stability in the service and the maritime sector while giving younger officers more time to prepare for the challenges of international trade.

The appeal was made in an open letter to the President titled, “The Matter of Mass Due Retirement of Seasoned Management Officers of Nigeria Customs Service.

” The letter was signed by NAGAFF Secretary-General, Geophrey Nwosu, and issued in Lagos on Wednesday.

NAGAFF urged Tinubu to approve the extension in the national interest, warning that the simultaneous retirement of experienced officers could pose challenges for the service, which plays a key role in revenue generation, fiscal policy implementation and trade facilitation.

“Mr President, we write this letter to you from our strategic position in maritime trade and transportation at Nigeria gateways,” the association stated.

It expressed concern that the departure of several senior officers at once could disrupt operations and affect the smooth administration of the service.

While acknowledging the efforts of the Comptroller-General of Customs and his management team to place younger officers in strategic positions, NAGAFF said the proposed extension would give them more time to gain the experience needed to handle their new responsibilities.

“This underscores our worries, and to that extent, a one-year extension shall be most appropriate to stabilise young officers for challenges ahead,” the association stated.

It added that younger officers were willing and ready to take on greater responsibilities when called upon, but stressed the need for a smooth transition to ensure continuity.

The association also raised concerns over the influx of fake products into Nigeria, describing the country as a dumping ground for substandard goods.

“Mr President, we are speaking to you from the heartbeat of Nigeria’s economy. Nigeria is virtually a dumping ground for fake products,” it stated.

NAGAFF attributed the problem partly to lapses in the implementation of the National Single Window platforms, which it said had affected the statutory responsibilities of regulatory agencies at the ports.

It specifically cited the Standards Organisation of Nigeria (SON), the National Agency for Food and Drug Administration and Control (NAFDAC), and the National Environmental Standards and Regulations Enforcement Agency (NESREA), alleging that the agencies had been hindered from fully carrying out their duties.

According to the association, the Customs Service was working to tackle the problem through its longstanding relationships with freight forwarding practitioners at entry points across the country.

NAGAFF also commended Tinubu for removing the petroleum subsidy, expressing support for the administration’s economic reform agenda.

“All of us in the NAGAFF family are most grateful to you for having the courage to disengage and dismantle the petroleum subsidy regime. Remain strong at heart in the interest of Nigerians,” it stated.

The association reaffirmed its commitment to supporting the President’s efforts to revive the economy through effective trade facilitation and reforms.

The letter was copied to NAGAFF Founder, Dr Boniface Aniebonam; the Secretary to the Government of the Federation; the President of the Senate; and the Comptroller-General of Customs.

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News Engineering, Indian Firm Partner for Niger State’s 100MW Solar Project

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From  Dan Amasingha, Minna

​In a major bid to bolster renewable energy infrastructure in North-Central Nigeria, News Engineering Nigeria Limited, in partnership with India-based Mahashakti Energy, has formally declared interest in executing Niger State’s proposed 100-megawatt (MW) solar power project.

​The multi-million-dollar clean energy initiative is slated to be funded by the Islamic Development Bank (IsDB).

​The Managing Director and Chief Executive Officer of News Engineering, Lady Josephine Nwaeze, disclosed this during a strategic visit to Governor Mohammed Umaru Bago at the Niger State Liaison Office in Abuja.

​Leading a joint delegation of both firms, Lady Nwaeze noted that the visit was designed to present the consortium’s technical capability, track record, and readiness to deliver the project in line with international best practices. 

She praised the Bago-led administration for improving security and creating an enabling environment for private sector-driven development.

​Presenting the consortium’s technical profile, Business Development Manager at News Engineering, Engr. Henry Akoji, highlighted the firm’s extensive footprint in Nigeria’s power sector. He revealed that News Engineering has successfully executed over 1,000 electrical installation projects nationwide, spanning high-voltage transmission lines, power distribution networks, and rural electrification infrastructure.

​”Our renewable energy division has deployed over 100 solar mini-grid projects and distributed approximately 5,000 solar home systems across the country,” Akoji stated. 

He emphasized the company’s end-to-end expertise in substation design, transmission line upgrades, project management, and technical capacity building.

​Adding a global perspective, the Director of Mahashakti Energy, Ashok Kansal, highlighted his firm’s specialization in power loss reduction and sustainable grid management. Kansal pointed to successful interventions in India, where Mahashakti reduced aggregate technical and commercial (ATC) losses by 30 to 40 percent.

​He assured the governor that the partnership would leverage cutting-edge technology in solar evacuation and distribution infrastructure to minimize energy losses and guarantee a stable power supply across Niger State.

​Responding to the proposal, Governor Bago commended both entities for their presentation and demonstrated capacity. However, he emphasized that the state government would conduct rigorous due diligence and technical audits on their past projects before finalizing any contractual agreement.

​The proposed 100MW solar initiative forms a cornerstone of Niger State’s broader strategy to bridge its energy deficit, drive industrialization, and expand electricity access.

 The state government is expected to complete its technical evaluation before announcing a preferred partner for the Is isDB-backed project.

​

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2027: Over 100 Opposition Members Defect to APC in Kogi

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From Joseph Amedu, Lokoja 

More than 100 members of the African Democratic Congress (ADC), Nigeria Democratic Congress (NDC), Peoples Democratic Party (PDP) and Social Democratic Party (SDP) have defected to the ruling All Progressives Congress (APC) in Onicha-Igo, Ofu Local Government Area of Kogi State.

The defectors declared their support for the re-election of President Bola Ahmed Tinubu and Kogi State Governor, Ahmed Usman Ododo, ahead of the 2027 general elections.

Receiving the new members at an event held in Ofu LGA on Wednesday, prominent APC stakeholders from Kogi East Senatorial District, led by Engineer Friday Michael (MON), alongside representatives of the Kogi State Deputy Governor, Comrade Joel Salifu Oyibo, highlighted the achievements of the Tinubu and Ododo administrations.

Michael, who is also the Chief Executive Officer of Good Shepherd Hospital, described the large turnout as evidence of growing support for the APC, expressing confidence that the party would record an overwhelming victory in the 2027 elections.

He said the defectors had chosen to join the ruling party because of what he described as the developmental strides of the current administrations.

“Those members of the opposition parties defecting to the APC today have seen the light in our party. They can see the good work the current administrations are doing, and they are optimistic that if President Bola Tinubu and Governor Usman Ododo are re-elected in 2027, they will witness more development across the board,” he said.

Welcoming the defectors, Michael assured them of equal treatment within the party, regardless of when they joined.

“As we welcome them into the APC family, they should be assured that they will receive equal treatment like other members. Our common goal is to ensure the re-election of President Tinubu and Governor Ododo so they can sustain their development agenda for the people of Kogi State and Nigeria at large,” he added.

He commended Governor Ododo’s performance in infrastructure, healthcare, education and civil service welfare, maintaining that discussions on power rotation could be considered after the governor completes a second term in 2031.

Michael also urged residents and eligible voters to remain committed to the APC, stressing that continuity in leadership was necessary to sustain development and improve the welfare of the people.

He said his political engagement was driven by a desire to strengthen the relationship between government and the grassroots, adding that cooperation among political leaders, community stakeholders and residents would help bring government programmes closer to the people.

Speaking on behalf of the Deputy Governor, his Director of Protocol, Daniel Abutu, emphasised the importance of grassroots mobilisation and sustained engagement in securing victory for the APC in 2027.

According to Abutu, effective grassroots mobilisation and constructive engagement were essential to building public confidence, strengthening the party’s structures and ensuring that communities benefited from the dividends of democracy.

The event also featured renewed calls for support for the APC’s Kogi East senatorial candidate, Joe Erico, and other party candidates ahead of the 2027 elections.

Participants stressed the need for unity, political participation and sustained grassroots engagement to advance the party’s interests.

The gathering underscored the role of grassroots political stakeholders in strengthening party structures, integrating new members and consolidating the APC’s support base across Kogi East and beyond.

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