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Benue govt drags NDIC to Federal High Court over illegal sell of shares  …Demands N2.6billion damages 

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Justice Kudirat Kekere -Ekun(CJN)
By Henry Iyorkase, Makurdi.
The petitioner asked the court to order respondents to pay Benue State Government 2.6b  as general damages
Benue State Government has dragged the Nigeria Deposit Insurance Corporation (NDIC) and All States Trust Bank(in-liquidation) before the Federal High Court Makurdi, over illegal sell of shares.
The case was instituted  in 2011 through Benue Investment and Property Company BIPC Limited, and at some point BIPC could not continue because NDIC requested for out of court settlement and both parties went to Arbitration Panel in Abuja.
However, the parties  could not resolve the matter because NDIC later preferred to continue with the case in court.
When the case came up for hearing  , Counsel to the plaintiff, Douglas Pepe (SAN )called one of their chief witnesses, Mr Paul Agu, a former staff and MD/CEO of the company.
At  the  resumed hearing  yesterday Mr Agu told 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 further added that the bank failed to meet her contractual agreements with the plaintiff and 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 statement 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 represented by Aondover Iorngee after cross examination requested for date for defence.
The plaintiffs instituted legal action over breach of contract agreement and sell of shares.
The plaintiff in the suit averred that they 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 averred that the respondents who did not fulfilled her part of the contract agreements, charged them arbitrary and sold their shares placed in their custody as collateral.
They, therefore, urged the court to order the respondents to pay N2.6bn as lost income for her inability to trade with  stocks which were pledged as collateral and has been with them since 2002.
They should also pay the shares which in 2007 were valued at over 740m at the time of transaction and appreciating 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 the Benue State Government to pay N2.6b as general damages.
The presiding judge Rufai Egbe has adjourned the case to 5th February this year for defense.

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2nd Phase Leaders Complete Training on Leadership and Mediation – Gen. Elaye Lauds Otuaro’s Visionary Drive

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Administrator of the PAP, High Chief Dr. Dennis Brutu Otuaro, flanked by trainees at the end of leadership training and their masters displayed in exposures

By David Owei,Bayelsa

The 2nd Phase Camp Leaders’ training on “Leadership, Alternative Dispute Resolution and Mediation”, sponsored by the Presidential Amnesty Programme (PAP), has successfully come to a close Friday on a commendable note.

The intensive leadership-building initiative, held under the distinguished leadership of the Administrator of the PAP, High Chief Dr. Dennis Brutu Otuaro, aimed to equip leaders with practical skills in peacebuilding, mediation, and conflict resolution—critical tools for sustaining peace in the Niger Delta region.

Reacting to the successful completion of the programme, General Elaye ThankGod Dollar Slaboh, National Chairman of the Third Phase Presidential Amnesty Programme, alongside his national leadership, congratulated the participants for their commitment and active engagement throughout the training.

General Elaye commended Dr. Otuaro for his visionary leadership and strategic direction, which is rapidly changing the dynamics of the Presidential Amnesty Programme, shifting it towards human capital development and long-term peace.

He emphasized that such initiatives are essential for reinforcing grassroots leadership and consolidating the peace already being enjoyed in the region.

> “This training is not just a success for the 2nd Phase; it is a win for the entire Niger Delta. The wisdom of High Chief Otuaro in investing in leadership and conflict resolution will continue to bear fruit,” General Elaye stated.

 

The Presidential Amnesty Programme continues to champion developmental engagements that bridge gaps, empower beneficiaries, and promote sustainable peace in the Niger Delta.

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Regional Development Minister,Engr Momoh bags Awards

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Minister of Regional Development, EngrAbubakar Momoh (right) receiving a n award from Executive Secretary/ National Coordinator of the Institute, Dr. Musa Aliu Yakub Okhumeode

 

Regional Development Minister,Engr Momoh bags Awards

By Our Correspondent

Minister of Regional Development, Engineer Abubakar Momoh has been conferred with two Awards by the Institute of Professional Economists and Management Policy (IPEPM) tagged ‘ Excellent Leadership Award and Professional Doctorate Fellowship Award”.

Receiving the Awards today in his office, Engr. Momoh, expressed profound gratitude for the recognition and reiterated that true governance is about leaving a lasting legacies.

He further said “My track record speaks for itself and is a testament to the awards I have received “.

He used the opportunity to commend the President of the Federal Republic of Nigeria, Bola Ahmed Tinubu for his visionary leadership and resilience in ensuring the holistic development of the country.

According to him, the establishment of the Federal Ministry of Regional Development is a bold step to integrate all Regional Development Commissions under one coordinated umbrella.

The Ministér said that the recognition bestowed upon him further reinforces his commitment to service and to impact mankind.

Earlier, the leader of the delegation who is the Executive Secretary/ National Coordinator of the Institute, Dr. Musa Aliu Yakub Okhumeode, said the courtesy visit was to present the prestigious Awards in recognition of his exceptional leadership and contribution to regional and national Development, as well as to seek partnership in strategic training programmes.

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Minna Lack of Sensitisation responsible for transporting small arms and light weapons to criminal gangs-Enanch and offi officials

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The Zonal Director, North Central, National Centre for Small Arms and Light Weapons Mr Abdul Adamu,NUJ council chairmen and otticials and others omrade Abu Nmodu

By Uthman-Baba Naseer,Minna

The Zonal Director, North Central, National Centre for Small Arms and Light Weapons Mr Abdul Adamu Enenche made the submission during a visit to the Niger State Council of the Nigeria Union of Journalists NUJ in Minna.

Of recent, many Nigerians have been apprehended with cache of arms and ammunitions meant for delivery to bandits, kidnappers and other criminals.

This has raised questions as to why some individuals will willingly allow themselves to be used as couriers of illegal weapons to criminals.

The Zonal Director, National Centre for the Control of Small Arms and Light Weapons, Mr Abdul Adamu Enenche said lack sensitisation on dangers of such acts and intelligence from people are contributing to the spread of arms.

He observed that porous or poorly managed borders and activities of local fabricators who manufacture guns are other sources of weapons proliferation that the Centre is trying to address.

Mr Adamu Enenche who solicited the support of members of the NUJ to enable the Centre to achieve its objectives, promised to synergize with other sister agencies.

The Chairman, Nigeria Union of Journalists NUJ, Niger State Council, Comrade Abu Nmodu expressed optimism that there would be great reduction of criminal activities once the issue of small arms are resolved.

Comrade Nmodu urged the Centre to be open for collaboration with the Union especially in the area of training members on it’s activities.

Across section of members of the Union who spoke on the occasion stressed the need for the National Centre for the Control of Small Arms and Light Weapons to deploy officers of the Centre to the grassroots for easy intelligence gathering.

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