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N25bn refund pitches Ubah against Governor Obiano

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By Sanni Onogu, Abuja

The N25 billion refunded to the Anambra State Government by the Federal Government for repayment of rehabilitation and reconstruction of Federal roads has pitched Senator Ifeanyi Ubah (Anambra South) against Governor Willie Obiano.


Ubah at a press briefing on Sunday gave Obiano 72- hour ultimatum to address Anambra on why he had to discount the promissory notes with about N8billion or two-third of the money ahead of their maturity dates.


He threatened to institute a legal action against the Anambra State Government if Governor Obiano fails to heed his request.

The promissory notes were issued to the Anambra State Government by the Debt Management Office in 2018 and 2019.

The refund was made to the state through two separate promissory notes issued by the Debt Management Office (DMO) in December 2018 and April, 2019, to the tune of N10.097 billion and N15.146 billion respectively

The two Promissory notes had maturity dates of December 28, 2020 and April 1, 2022 respectively.

Commissioner for Information and Public Enlightenment, Mr. C-Don Adinuba, had in a statement denied that the State Government raised money from “the Debt Management Office or the Federal Ministry of Finance under a bond, or any financial instrument from any institution or organisation.

“Our record of prudent financial management and integrity is well acknowledged far and near. It is tough to speculate how the senator came about the phantom N25billion bond which Anambra State purportedly raised surreptitiously from the DMO/Federal Ministry of Finance.”

However, Senator Ubah, who was armed with documents concerning the transaction from the DMO and signed by its Director General, Patience Oniha and the Minister of Finance, Zainab Ahmed, insisted that the N25billion was expected to be paid in two installments.

He lamented out of the N25billion, only N16.1billion was realised by the state government after the promissory notes were discounted at the rate of 15 per cent and 13 per cent respectively, by Governor Obiano through a commercial bank.

He said the state lost whopping N8.85billion after the promissory notes were acquired at discounted rates by the bank.

“The governor paid banks over N8billion in order to cash out the promissory notes before their maturity dates, thereby ensuring that Anambra lost the amount from the transactions,” Ubah said.

According to the documents obtained from the DMO by Senator Ubah, the amount and tenor of the first promissory note was N10, 097, 722, 436.90 and issued to the state government on December 28, 2018 with a maturity date of
December 28, 2020.

The second promissory note of N15,146, 583, 655.00 was issued by the DMO on April 1, 2019 with a maturity date of April 1, 2022.

The letter from the DMO to Senator Ubah with reference number DMO/PMD/598/S.4/III/881 and dated November 16, 2020, reads in part: “The Distinguished Senator may wish to be informed that these were the only promissory notes issued to Anambra State Government which fully settled the outstanding claims of the state as approved by the Federal Executive Council and the National Assembly.”

But Senator Ubah further alleged that “in order for Governor Obiano to cash out on the N25billion that hasn’t matured, he had to terminate the deal by giving up 15 per cent and 13 per cent respectively of the total sums per annum.”

He added: “The Governor paid about N3billion in bank charges for N10billion on the first promissory note which has a tenor of two years and paid another N4.5billion on the second promissory note of N15billion which has a tenor of three years.”

READ ALSO: Obiano, Ubah renew battle over alleged N25b bond

The lawmaker, however, vowed to petition the Anambra State House of Assembly after which he would sue the Governor should he fail to explain to the people of Anambra State why he threw away N8billion in his rush to cash out the money before the respective maturity dates.

He, however, wondered why the governor failed to capture the money realized from the promissory notes in the state’s annual budgets.

He called on the Governor to explain what he did with the N16billion he collected after making the state to lose whooping N8billion as discounts as well as why he allegedly lied through his commissioner about the funds.

He insisted that the road projects for which the N25billion was refunded by the Federal Government were executed by the administrations of Governors Chris Ngige and Peter Obi.

Senator Ubah also alleged that Governor Obiano has prevailed on the Federal Commissioner for Works in the state to stop him from rehabilitating some bad roads in his constituency even as the governor has continued to neglect the roads.

The Nation

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Gospel singer Buchi celebrates 26th wedding anniversary

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Gospel artiste, Buchi Atuonwu and his wife celebrated their 26th wedding anniversary yesterday, November 26., 2020.


Gospel singer Buchi celebrates 26th wedding anniversary


Buchi announced the good news on his social media handle, after sharing pictures with his wife.

The singer who is very famous for his reggae styled gospel songs, wrote on social media;

”This is really special…The union is ital. The date is crucial. It’s November 26 And today we are 26
It’s our anniversary again. It’s dancing time again!”

The singer has released five audio albums and two video albums. The audio albums include:

These Days, So Beautiful, What a life, The Sound of Life and Over the years.

Born in Kaduna in 1963, he lived most of his life in Lagos, and started his career as a disc jockey in night clubs.

He attended Enugu Methodist College, and Federal Government College, and gained admission to University of Lagos in 1983 to study English language and literary studies.

The “What a life” crooner graduated with a BA and MA in 1986 and 1988 from UNILAG. He took up an appointment with the university at the end of his programme to lecture and run a Ph.D programme.

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North is the worst place to live in Nigeria – Sultan of Sokoto

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Sultan of Sokoto Alhaji Sa’ad Abubakar

The Sultan of Sokoto and President of the Nigerian Supreme Council of Islamic Affairs (NSCIA), Alhaji Muhammad Sa’ad Abubakar III, has described the North as the worst region to live in Nigeria.

The monarch said this at the 4th Quarter Meeting of the Nigeria Inter-Religious Council (NIREC) in Abuja on Thursday November 26.

On scrapping of controversial police unit SARS, the Sultan said;

“We must obey all laws, if we are not law abiding. We have heard people calling for the scrapping of SARS, the President has done that and we later said, bring police back. We cannot do without the Police; we cannot do without our security agencies. No matter bad the security agencies are, there are still excellent officers.

“What we need to do is to fish out the bad elements from the security agencies and to reform the agencies and have a better. Abusing the Police, abusing soldiers, abusing security agencies would not augur well for us because, by the time we drag into anarchy, everybody would be on its, and then there would be serious problem in the country.

“We have security problems in the country, bandits now go into people’s houses to kidnap, not on the highway anymore. Of recent in the last couple of days, they are going into institutions, in Zaria; ABU, the Polytechnic and took away people.”

The Sokoto monarch also narrated some of the security challenges some residents of the Northern region have been facing.

He said;

“The insecurity in the north is so high that people are even afraid of travelling from Funtua to Zaria, a journey of about 48 or 50 miles. Not to talk of Sokoto to Abuja or to Kano.

“We know what we are going through. We are so insecure in the north that people are losing hope. People keep things in the house so that when the bandits come, they would let them be free.

“Couple of weeks ago, 76 people were killed in Sokoto by bandits in a day, it is not a story because I went there with the governor in Eastern part of Sokoto but you don’t hear these stories because it happened in the North and we don’t have media that is strong enough to bring out these atrocities about the bandits so people think that the North is secure.

“No north is not secure at all. In fact, it is the worst place to be in this country because bandits go about in the villages with their AK47 and nobody talks to them. They stop at the markets and buy things and even collect change with their weapons.”

On the rising cost of living, Abubakar said;

“Food prizes are on the increase and we need to do something about it. The cost of onion is too high and beyond the reach of many people. A hungry man is an angry man. The rising cost of foodstuff in the markets is an issue. The amount an onion costs in Nigeria today is an insight into the current economic hardship in the country.

“I think we really need to sit down and look at these issues because a hungry man is an angry man. We do not lack recommendations and solutions to our problems. What we lack is implementation and that sense of purpose to do the right thing, but we don’t like doing the right thing, we always want to cut corners.”

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Ondo Monarch, Olufon Of Ifon Shot Dead By Gunmen

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The Olufon of Ifon in Ose local government area of Ondo state, Isreal Adeusi, has been killed by bandits.

The first class traditional ruler was returning to Ifon from Akure after a meeting, Thursday, Nov 26, when he ran into a barricade set up by the kidnappers along Elegbeka area.

It was gathered that his driver attempted to manoeuvre his way to avoid the kidnappers but they shot at his vehicle.

Oba Adewusi was said to have been hit by bullets and was rushed to the Federal Medical Centre, Owo, where he was confirmed dead.

According to Tribune Online, the state governor, Mr. Rotimi Akeredolu, rushed to the hospital after he was informed of the incident.

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