COVER
UK Returns £4.2m Recovered Funds to Nigeria
The British Government has resolved to return £4.2million being part of the amount recovered from associates and family members of former Delta Governor, James Ibori.
The British High Commissioner to Nigeria, Ms. Catriona Laing, disclosed this yesterday in Abuja, at the signing of a Memorandum of Understanding (MOU) between both countries that the £4.
2million was the first tranche of the returnsShe noted that the Ibori case was very complicated, but the United Kingdom authorities were still working on the actual amount involved in the case.
Laing assured that more of such recoveries from the Ibori case would be returned to Nigeria in due course.
“The return of these assets to Nigeria has been subject to a number of hard fought legal challenges by third parties, which were defeated in the UK courts.
”We will ensure the full weight of law enforcement to crack down those use, move or hide their proceeds of crime in the UK”, she said.
Attorney-General of the Federation and Minister of Justice, Abubakar Malami, said the federal government was committed to ensuring the transparent management of all recovered assets.
“The assets returned will support and assist in expediting the construction of three major infrastructure projects across Nigeria. ” The projects are the Lagos-Ibadan expressway, Abuja – Kano road and the second Niger Bridge that are being executed under the supervision of the Nigerian Sovereign Investment Authority.
“The project will boost economic growth and help alleviate poverty by connecting people and supply chains from the East to the West and to the Northern part of Nigeria”.
Attorney General and Minister of Justice, Abubakar Malami, who signed for Nigeria,, disclosed that President Muhammadu Buhari has directed the returned loots be deployed to completion of the second Niger Bridge, the Lagos to Ibadan express way and the Abuja to Kano express way projects.
Solicitor-General of the Federation, Mr Dayo Apata (SAN) said while welcoming the guests said the ministry has fully assumed its leadership role in its constitutional duty in the administration of Justice in Nigeria.
“It has led to the formulation of National Strategies/Action Plan for combating corruption. “Vigorous pursuing repatriation of recovered looted funds/assets in the face of daunting challenges. ” Drafting of Bills to stifle corrupt practices and to bring about and efficient and beneficial management of the proceeds of crime amongst others
Senate Probes 460 MDAs on Revenue Generation
The Senate Committee on Finance has said it would begin investigation of revenue generating Ministries, Departments and Agencies (MDAs) from March 10, to determine their compliance to laws of remittance since 2014.
Sen. Solomon Adeola (APC Lagos) who disclosed this in a statement through his Media Adviser, Mr Kayode Odunaro, said in Abuja yesterday that the move was to further ensure that revenue accrued to the Consolidated Fund Account was fully remitted.
According to him, reliance on revenue from crude oil sale and other sources to finance government recurrent and capital expenditures was no longer sustainable.
Adeola said there was an urgent need for the government to look into other revenue sources to finance its activities.
“There is no doubt that many MDAs have defaulted to remit revenue generated during their operation as stipulated by the Fiscal Responsibility Act 2007 and the 1999 Constitution of Nigeria.
“In view of the crisis that Nigeria is in now, this cannot be allowed to continue and the investigation is to find the underlying cause of the non-compliance by MDAs,” he said.
He said the investigation would also include remittances of one per cent Stamp Duty collection accrued from all awarded contracts by all MDAs not remitted to Federal Inland Revenues Services (FIRS.)
He said the affected organisations were no fewer than 460 revenue generating MDAs.
“The investigation will cover the period between 2014 till date.
“Submissions already made by MDAs are to be corroborated by the Office of the Accountant General of the Federation, (OAGF) and records with the Fiscal Responsibility Commission that are part of the technical team of the senate investigation,” Adeola said.
United Bank for Africa Plc (UBA) has announced plans to raise N157 billion through a rights issue.The disclosure was made via a notice to the Nigerian Exchange Ltd (NGX).It said in a statement on Thursday that its stock brokers, United Capital Securities Ltd., had submitted an application to the Nigerian Exchange Ltd.
to that effect. It added its stock brokers had requested for approval and listing of a Rights Issue of 3,156,869,665 ordinary shares of 50 Kobo each at N50. 00 per share“Trading License Holders are hereby notified that United Bank for Africa Plc, through its Stockbrokers, United Capital Securities Ltd., has submitted an application to the Nigerian Exchange Ltd.” in that regard.“The rights issue will be on the basis of one new ordinary share for every 13 ordinary shares held as of the close of business on Wednesday, July 16, 2025.“The qualification date for the Rights Issue is July 16, 2025,” the bank noted.The move is part of UBA’s strategy to strengthen its capital base and support its expansion and growth objectives across Africa.(NAN)
From Attah Ede, Makurdi
Over 4000 substandard and illegal schools have been uncovered and ready to be shut down across the state.The chief press secretary to the Benue State Governor, Tersoo Kula disclosed this at a press conference in Makurdi.Kula was reacting to a statement credited to former commissioner for education and knowledge management, Prof.
Dennis Ityavyar, said that Governor Alia has stabilised the educational sector since coming on board two years ago. ”No more strikes. Schools are moving on smoothly and in a bid to bring teaching and learning closer to the people and address the problem of younger school leavers in securing admission into tertiary institutions, the governor has established a new university.”The establishment of University of Agriculture Science and Technology Ihugh, Vandeikyaa LGA is real..The governor has secured the licence, acquired land and made appointments of principal officers.”This is to address the issue of providing admission for the teeming Benue indigenes seeking admission into Nigerian universities.”The Governor has employed over 9700 teachers to energize public primary schools in the state. Apart from the fact that our primary schools would be energized, 9700 youths have been taken off the streets.”The government of governor Alia has also paid the 38 months earned allowance owed to lecturers at the Moses Adasu University, formerly Benue State University Makurdi”, he said.He maintained that renovation of government secondary schools and colleges across the state are ongoing where ongoing construction of new structures is in some public primary and secondary schools to ensure conducive learning environment.”Public primary schools teachers are trained on ITCs to enhance the teaching and learning of information and technology innovations at elementary level.”This government has been able to identify over 4000 substandard schools in the state and have secured insurance cover for Benue State students and paid bursary allowances in law school students in the state”, Kula stated.Benue Moves to Domesticate National Policy on IDPsThe Benue State Government has commenced a validation process to domesticate the newly federal government policy on Internally Displaced Persons (PDP) in the State.Commissioner for Humanitarian and Disaster Management in the State, Aondowase Kunde, stated that upon stakeholders’ inputs into the Internally Displaced Persons policy document, it would be fully launched.He added that the aim is to improve the welfare of the displaced population in the state.Kunde stated this during a two policy validation meeting held at Benue Hotels Makurdi yesterday.He maintained that the document which was passed into law by the national assembly needed to be domesticated in the state in line with the peculiarities of the state.In his remarks, the chairman, House Committee on Humanitarian and Disaster Management, Benue State House of assembly, James Abu Umoro, noted that the state has suffered so many natural and man-made disasters that it requires the policy to be domesticated in the state.Umoru insisted that the house will not hesitate to pass the document into law when presented by the executive arm of government.He said the issue of IDP in the state is a concern for everyone and must be given accelerated consideration at any point in time.On his part, House committee chairman on SDG and Donor Agencies, Peter Uche, noted that in most cases, communities have suffered attacks for more than ten years.”Let me therefore, call on all to support the implementation of the policy document for the displaced to return to their ancestral homes to start their normal farming and business activities”, he stated.The Director General, Sustainable Development Goals, John Akuse, who spoke at the occasion, said the validation of the IDP policy document is vital in paving the way for the displaced population to be adequately taken care of regarding their peculiar needs.
By David Torough, Abuja
President Bola Tinubu has approved the renaming of the University of Maiduguri, Borno State as Muhammadu Buhari University.
“May we now adopt the University of Maduguri as the Muhammadu Buhari University,” Tinubu said at the close of a special session of the Federal Executive Council held to honour Buhari at the Aso Rock Villa, Abuja on Thursday.
The President paid a glowing tribute to Buhari, describing him as “a good man, a decent man, an honourable man” whose legacy of discipline, patriotism and moral uprightness would endure for generations.
Tinubu said although the late president was not without flaws, his unwavering commitment to national service set him apart.
“President Buhari was not a perfect man, no leader is, but he was, in every sense of the word, a good man, a decent man, an honourable man.
“His record will be debated, as all legacies are, but the character he brought to public life, the moral force he carried, the incorruptible standard he represented, will not be forgotten.
“His was a life lived in full service to Nigeria, and in fidelity to God,” he said.
Reflecting on Buhari’s time in office and his long military and civil service, Tinubu praised the late leader’s simplicity, humility, and stoic resistance to the trappings of power.
He said, “He stood, always, ramrod straight; unmoved by the temptation of power, unseduced by applause and unafraid of the loneliness that often visits those who do what is right, rather than what is popular.
“His was a quiet courage, a righteousness that never announced itself. His patriotism lived more in action than in words.”
Tinubu also recounted their political alliance, which culminated in the historic 2015 elections that marked Nigeria’s first democratic transfer of power from one ruling party to another.
“We stood together, he and I. Alongside others drawn from across the political spectrum, regions and tongues, we formed an alliance that enabled Nigeria to experience its first true democratic transfer of power from one ruling party to another.
“When he was sworn in as our party’s first elected President, he led with restraint, governed with dignity, and bore the burdens of leadership without complaint,” he said.
The President expressed admiration for Buhari’s post-office modesty, noting that he returned to his hometown, Daura, without seeking to wield influence behind the scenes.
“When his tenure ended, he returned to Daura; not to command from the shadows or to hold court, but to live as he always had, never seeking to impose his will but content to let others carry the nation forward.
“Even in death, he maintained the serenity that defined him in life: not a sigh, not a groan, just a quiet submission to the will of God. Such was the man Nigeria has lost. Such was the man for whom our nation now mourns,” he added.
Tinubu thanked the Inter-Ministerial Committee and Katsina State Governor, Dikko Radda, for organising a befitting state funeral within 48 hours, describing it as a “profound honour” to lead the burial procession in Daura.
He concluded his tribute with a prayer: “Mai Gaskiya, the People’s General, the Farmer President, your duty is done. May Almighty Allah forgive his shortcomings and grant him Aljannah Firdaus. May his life continue to inspire generations of Nigerians to serve with courage, conviction, and selflessness. President Buhari, thank you. Nigeria will remember you.”
Buhari died on Sunday, July 13, at the age of 82.
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