News

Reps Query Non-completion Of Iwuo Achang Skills Acquisition Center

Published

9 months ago

May 23, 2024

By Gloria Ikibah

The House of Representatives has queried the contractors handling the skill acquisition center at Iwuo Achang, Ibeno Local Government Area of Akwa Ibom State.

The Chairman House Committee on Niger Delta Ministry, Rep. Eugene Dibiagwu, who issued the query at the investigative hearing on the abandoned Skill Acquisition Center, said the lack of commitment by the contractors had made them part of the problem bedeviling the nation in regards to abandoned projects.

Rep. Dibiagwu decried that the project was yet to be completed after being paid 85 percent of the contract sum.

He said: “As a contractor that has been paid up to 85 percent, you were supposed to have completed that project; you know the reason why you have not; we will not allow the project to die that way.

“We understand the situation we found ourselves in in the country economically regarding the cost of materials.

“We will engage the ministry of Niger Delta so that they will know whether to consider further valuation for your request for additional money”.

He expressed shock that part of the fence built by the contractors had broken, even as he assured that the committee would unravel whether the fence built by the contractor that fell was their fault or of a natural cause.

The Chairman however, charged the contractor to do everything possible to complete the project, adding that the committee would not join issues with the contractor until the project was completed.

He said that if the skill acquisition center must work with all the necessary facilities to make it functional, it would require an additional N2 billion from the N4.2 billion earlier quoted for the project.

“We are looking at an additional 2 billion naira, which will bring the total project to 6.2 billion naira, having committed 4 2 billion naira initially.

“And even if we commit 6.2 billion naira, the center will not still work considering what is left to be done. That center cannot train one person even with 6.2 billion naira.

According to him, this is because the center would accommodate training workshops, train personnel to man the center, and also equip the training center to work.

Naijablitznews.com recalled that the House, on November 23, 2023, deliberated on a motion titled “Need to Complete the Construction of the Skill Acquisition Center at Iwuo Achang, Ibeno Local Government Area of Akwa Ibom State.”.

The House had urged the Federal Ministry of Niger Delta Affairs to ensure completion of the project within the 2024 fiscal year and mandated the Committee on Niger Delta Ministry to ensure compliance.

However, the Chairman stated that the contract for the center was awarded on March 15, 2010 by the Federal Ministry of Niger Delta Affairs to three companies.

He stated that the project had reached about 85 percent completion 12 years ago but was abandoned due to an unexpected increase in the price of goods.

This, he said, left the property vandalised and in deplorable condition.

The contractors who appeared before the committee include Stegis International Agency Nigeria Ltd., a civil construction building, and Enarosol Nigeria Ltd., a landscaping and perimeter fencing company.

Others include Y. S. Associates, Electrical and Mechanical Works.

The contractor who tried albeit unsuccessful to defend their actions, were requested to appear with copies of the contract agreement, interim performance certificates, and any other relevant documents relating to the project.

News

Court Remands P-Square’s Brother, Ex-Manager Jude Okoye IOver Alleged N1.3B, $1M, £34,000 Fraud

Published

3 hours ago

February 26, 2025

Kayode Sanni-Arewa

By Kayode Sanni-Arewa

The Economic and Financial Crimes Commission (EFCC) has taken Jude Okoye, the elder brother and former manager of the defunct music duo P-Square, to court over alleged money laundering involving ₦1.38 billion, $1 million, and £34,537.59.

Jude Okoye, along with his company Northside Music Ltd, was arraigned before Justice Alexander Owoeye of the Federal High Court in Lagos on Wednesday, facing a seven-count charge related to financial crimes.

One of the charges states: “That you, Jude Okoye Chigozie and Northside Music Ltd, sometime in 2022 in Lagos, within the jurisdiction of this Honourable Court, did directly acquire a landed property known as No 5, Tony Eromosele Street, Parkview Estate, Ikoyi, Lagos worth ₦850,000,000.00 (Eight hundred and fifty million naira) only, which money you knew or reasonably ought to have known forms part of proceeds of unlawful acts, thereby committing an offence contrary to Section 18 (2)(d) and punishable under Section 18 (3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”

Another charge alleges that Jude Okoye and his company used a Bureau de Change operator to convert $1,019,762.87 (One million nineteen thousand, seven hundred and sixty-two dollars, eighty-seven cents) domiciled in Access Bank Plc into naira and remitted the funds into various accounts with the intent to conceal the source of the money, in violation of the Money Laundering Act.

Jude Okoye pleaded “not guilty” to the charges.

Following his plea, EFCC counsel Larry Peters Aso applied for a trial date and requested that the defendant be remanded in a correctional facility pending trial.

However, defence counsel Inibehe Effiong informed the court of a pending bail application and urged the court to keep Okoye in EFCC custody until the application is heard.

The prosecution opposed the request, citing congestion in EFCC facilities and urging the court to remand him to a correctional centre instead.

Justice Owoeye subsequently adjourned the case to February 28 for a bail hearing and fixed April 14 for trial commencement.

The judge also ordered that Jude Okoye be remanded at the Ikoyi correctional facility pending the determination of his bail application.

News

Funso Ayeni donates N1m, appeals to citizens to support Fisayo Aluko medical needs

Published

3 hours ago

February 26, 2025

Kayode Sanni-Arewa

By Kayode Sanni-Arewa

Prince Funso Ayeni, an Ikole born philanthropist and politician has donated the sum of N1,000,000 for the support of one Esther Fisayo Aluko Medical needs.

Fisayo Aluko, an Indigene of Ikole LGA part of Ekiti State is currently in need of fund running to millions of Naira to carry out a kidney transplant.

Prince Funso Ayeni made his support known via a Whatsapp platform created for the Indigenes of the LG.

“Good afternoon great citizens,
I am Prince Funso Ayeni (PhD)
I am deeply touched by the condition of Esther Fisayo Aluko, a young lady from Ikole Ekiti, battling kidney issue.

On behalf of myself, my family, and the entire Funso Ayeni Foundation (FAF), I have donated ₦1,000,000 (one million naira) towards her medical treatment ( receipt attached).

“I also appeal to our brothers and sisters from Ikole Local Government, both in and out of government, to rally their contacts and resources to support this urgent cause.

“Together, we can give Esther a chance to live a healthy life again.

News

Naira again falls against Dollar – February 26

Published

3 hours ago

February 26, 2025

Kayode Sanni-Arewa

By Kayode Sanni-Arewa

The naira is exchanging for ₦1,498 to 1 US Dollar at the parallel market (black market) in Nigeria.

This means that for every one dollar, you can get the equivalent in naira of ₦1,498 on February 26, 2025.

The black market rate signifies the value at which individuals can trade their dollars for naira outside the official or regulated exchange channels.

Note that the Black Market Exchange rate is typically higher than the official exchange rate because it is not regulated by the government

Today’s February 26 exchange shows that the naira has improved against the dollar, as it strengthened compared to what it traded on Tuesday, February 25, when the naira exchanged ₦1,499.

The value of any nation’s currency is determined by aggregate supply and demand.

The forces of supply and demand are themselves influenced by a number of factors, including interest rates, inflation, capital flow, and money supply.

The most common method to value currency is through exchange rates. The two main exchange rate systems are fixed rate and floating rate systems.

Investors and participants closely monitor these parallel market rates for a more immediate reflection of currency dynamics