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Fubara Wins As Appeal Court Nullifies Judgement Stopping Allocations To Rivers

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Fubara Wins As Appeal Court Nullifies Judgement Stopping Allocations To Rivers
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Fubara Wins As Appeal Court Nullifies Judgement Stopping Allocations To Rivers

The court of appeal has declared that the Federal High Court lacked jurisdiction to entertain the suit seeking to seize Rivers State’s allocation.
The suit was delivered today, December 13, 2024 by Justice Barka.
The Appeal Court’s verdict nullified the earlier judgment, stating that the Federal High Court overstepped its bounds by interfering in a state’s appropriation issue. According to Justice Barka, the listing of federal agencies does not grant the Federal High Court unrestricted jurisdiction.
Reacting, Hon. Ikenga Imo Ugochinyere, spokesperson for the Opposition Lawmakers Coalition, praised the Appeal Court’s decision, saying it has averted anarchy and constitutional disorder planned by the pro-Wike group.

He said, “The state house of assembly has a legitimate issue because of the illegal defections from PDP to APC which is currently before the court , the sacked lawmakers have been seeking for anarchy to be unleashed on the state and putting pressure on our courts in a desperate bid to undermine democracy in Rivers State. According to Supreme Court judgement, the 4-man House of Assembly is recognized by law and until the Supreme court decides on the issue of their illegal decampment, they don’t have right to make law for the state.
“Until by election is held to fill those vacant seats, the remaining members can preside.
“The decision of the appeal court to nullify the judgement of the federal high court to order for the seizure of allocation of rivers state government is a welcome development and a triumph for rule of law, victory for true federalism and constitutional governance and should be applauded by all Nigerians that these eminent judges have interpreted already established judicial principle by the Supreme Court
“They have asserted the sacred principle of our constitutional governance and democracy, that there’s a difference between fund disbursement, funding federation account and state appropriation act which is an internal affairs of the state, which falls

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Anambra 2025: Onyeze emerges Accord Party guber candidate ‎

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‎Anambra philanthropist, Chief Chidi Charles Onyeze, has emerged the governorship candidate of the Accord party for the November 5 2025 Anambra governorship election.

‎He was declared unopposed during the Party’s Primary election process held at East End Hotel, Aroma, Awka, on Tuesday, April 8, 2025.

‎The exercise was witnessed by thousands of party chieftains, members, INEC, security, and the media.

‎By his emergence, Chief Onyeze has become the youngest governorship candidate, who will participate in the election alongside the incumbent governor of the state, Prof Chukwuma Charles Soludo (APGA), Prince Nicholas Ukachukwu (APC), Mr. Jude Ejimofor (PDP), Chief George Muoghalu (LP) and other awaiting candidates from other political parties.



‎Speaking to Journalists shortly after the process, Onyeze said he is contesting the election to address the current challenges of unemployment, insecurity, and poor educational system in Anambra State.

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FG UNVEILS GOVERNANCE SCORECARD TO ACCELERATE $1 TRILLION ECONOMY VISION

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The Honourable Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun has spotlighted corporate governance as a key lever in President Bola Ahmed Tinubu’s push to build a $1 trillion economy, urging state-owned enterprises (SOEs) to meet global standards of transparency, ethics, and performance.

Speaking at the MOFI Corporate Governance Forum in Abuja on Monday, the Honourable Minister described the newly introduced MOFI Scorecard as a vital benchmark for institutional health—designed to position SOEs for investment, growth, and long-term value creation.

This scorecard is not just a document—it’s a test, Edun said. He added that Strong governance attracts capital, builds trust, and delivers real economic returns.

The two-day forum, themed Ensuring Value Creation in State-Owned Enterprises Through Better Corporate Governance, brought together CEOs, regulators, and development partners to examine how better oversight can unlock Nigeria’s public asset potential.

Referencing entities like NNPC Ltd, Edun noted that SOEs must be investor-ready as the government shifts from debt-heavy budgets to equity-based growth. He also pointed to positive macro signals and falling food and fuel prices—as early signs of a stabilising economy.

MOFI Chairman Dr. Shamsudeen Usman confirmed that the scorecard will be enforced through independent assessments, including MOFI itself. We are not asking others to do what we haven’t already done, he said.

MOFI CEO Dr. Armstrong Takang outlined a rollout that includes third-party evaluations, remediation plans, and public recognition through the annual MOFI Excellence Awards.

Backed by the World Bank, the initiative marks a shift in how Nigeria manages public wealth—with governance now central to growth, resilience, and investor confidence.

The introduction of the governance scorecard is a testament to the Federal Government’s commitment to transforming Nigeria’s economy. As the country moves forward, one thing is clear: transparency, accountability, and growth will be the guiding principles for the SOEs.

 

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FG GIVES UPDATE ON THE CRUDE AND REFINED PRODUCT SALES IN NAIRA INITIATIVE

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The Technical Sub-Committee on the Crude and Refined Product Sales in Naira initiative has today convened an update meeting held in Abuja with the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, presiding. The meeting reviewed progress and addressed ongoing implementation matters.

The stakeholders reaffirmed the government’s commitment to the full implementation of this strategic initiative, as directed by the Federal Executive Council (FEC). It stated that the Crude and Refined Product Sales in Naira initiative is a key policy directive designed to support sustainable local refining, bolster energy security, and reduce reliance on foreign exchange in the domestic petroleum market.

The Committee acknowledges that implementation challenges may arise from time to time. However, such issues are being actively addressed through coordinated efforts among all relevant parties. The initiative remains in effect and will continue for as long as it aligns with the public interest and supports the national economy.

The meeting was attended by the Chairman of the Implementation Committee, the Honourable
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun; the Chairman of the Technical Sub-Committee and Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji; the Chief Financial Officer of NNPC Limited, Mr. Dapo Segun; the Coordinator of NNPC Refineries; Management of NNPC Trading; representatives of Dangote Petroleum Refinery and Petrochemicals; and senior officials from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Central Bank of Nigeria (CBN), the Nigerian Ports Authority (NPA), representative of Afreximbank, as well as the Secretary of the Committee, Hauwa Ibrahim.

The meeting underscored the government’s commitment to the Crude and Refined Product Sales in Naira initiative, a strategic move expected to have a lasting impact on Nigeria’s economy, fostering growth, stability, and self-sufficiency. This bold step positions Nigeria for success in the years to come

 

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