General News
DELTA IS FINISHED! GOV UDUAGHAN SETS TO BORROW N50 BILLION AFTER BRIBING SEC DG WITH N2B
Fejiro Oliver
If the trio of Great Ovedje Ogboru, Senator Ifeanyi Okowa and Olorogun O’tega Emerhor knows what is good for their political future; they should immediately start protesting against the bankruptcy that has hit Delta State or quit immediately from contesting the 2015 guber elections holding in three weeks time, as Deltans will hold them responsible for not delivering on their electoral promises, due to the indebtedness of the State.
As I report, the State Governor, Dr Emmanuel Uduaghan will be leaving the state N50 billion poorer and indebted to one of the new generation banks (names withheld for reasons). Incontrovertible information at the disposal of this journalist revealed that he is set to go to the bond market for a whooping N50 billion bond when he has less than 71 days to leave the Dennis Osadebey House.
To see this through, the governor has made available the sum of N2 billion to bribe the Director General of the Stock Exchange Commission (SEC) while over N3.5 billion have also been earmarked to grease the palms of the bank directors were the money will be borrowed from, as well as BGL who is a dealing member of the Nigerian Stock Exchange and is one of the leading stockbroking firms in Nigeria, strategically known for executing high volume transactions. Ironically, Albert Okumagba who is a friend to the governor is the GMD/CEO of the BGL group, who sources within the government disclose will make it easier for the criminal bond to be taken. The SEC DG has already agreed to sign the bond documents for him.
Quick investigations carried out revealed that part of the money is meant to pay contractors handling the Effurun and Asaba flyover; a job that so much money had earlier been paid for, with more budgeted for it since 2013. The remaining sum which will be over N40 will be diverted to private pockets as farewell gifts for loyal aides and himself, revealed a credible source.
Secrets Reporters, an online news plat had earlier reported on how Uduaghan had earlier borrowed N50 million from the bond market which he has been unable to account for, before going ahead now to borrow another one. Delta State is currently ranking among the five most indebted states in Nigeria, a situation that survey carried out reveals will take 12 years for any government to pay.
*** Stay tuned for more last minute dirty financial deals of the government.
Exclusive: How SMEDAN DG, Charles Odi Who Was Nominated By Seyi Tinubu Mismanaged ₦1.97 Billion
Spread the loveSecrets Reporters The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) exists to help the country’s small...
Fed Min Of Industry, Trade & Investment Records N3.07bn in Questioned Transactions as Funds Are Misapplied, Payments Bypass Controls
Spread the loveSecrets Reporters Amid the intricate paper trail of government finance, millions of naira moved through the Federal...
Exclusive: No National Population Census Since 2006, Yet Agency Chairman Nasir Isa Kwarra Said He Spent ₦240 Billion To Count Nigerians
Spread the loveSecrets Reporters Nigeria has not conducted a national census since 2006. For nearly two decades, the National Population...
Friends, associates gather to celebrate MB Anugwa’ graduation from National Defence College Abuja
Spread the loveSecrets Reporters It was a moment of liveliness and celebration as friends, family members and associates of Controller...
Former FRC CEO, Daniel Asapokhai Questioned for N138.7 Million in Unremitted Surplus, Unapproved Legal Fees and Foreign Trips While in Office
Spread the loveSecrets Reporters In a detailed indictment contained in the Auditor-General for the Federation’s Annual Report on Non-Compliance and...
Investment and Securities Tribunal’s N18 Million Black Hole Under Chief Registrar Habu Yerima Saleh: Unvouched Payments, Extra-Budgetary Spending and Silence from Management
Spread the loveSecrets Reporters A quieter but equally troubling set of findings have revealed non-compliance and internal control weaknesses at...
₦1.37 Trillion Unrecovered: The Auditor General’s Report That Put Governor Yemi Cardoso Central Bank On Trial
Spread the loveSecrets Reporters The Central Bank of Nigeria is supposed to be the guardian of the nation’s monetary integrity,...
N2.05bn Customs Audit Bombshell: N1.94bn Taxes Unremitted, N103.5m Legal Fees Questioned Under Hameed Ali
Spread the loveSecrets Reporters Troubling financial and administrative lapses have been discovered in the Nigeria Customs Service Headquarters in...
Cash In Hand: The Multi Million Naira Olubunmi Tunji-Ojo Federal Ministry Of Interior Money Paid Directly To Individual Staff Accounts Without Vendors
Spread the loveSecrets Reporters A government ministry does not run on personal bank transfers. Government financial system in the world...
A Satellite Agency Building Roads And Community Halls: Inside MD Jane Egerton-Idehen N236 Million Mandate Violation At NIGCOMSAT
Spread the loveSecrets Reporters The Nigerian Communications Satellite Limited exists for one reason, which is to build, deploy and commercialise...
Exclusive: Abacha’s Pointman And Nigeria’s Minister Atiku Bagudu’s Quiet Owned Texas Property Raises Fresh Questions Under Nigeria’s Asset Declaration Rules
Spread the loveSecrets Reporters While Abubakar Atiku Bagudu directs Nigeria’s national budget and economic planning from Abuja, public records in...
Prof. Joseph Eberendu Ahaneku and The N348.86m Questionable Expenditure, Investments, and Allowances in Nnamdi Azikiwe University
Spread the loveSecrets Reporters A review of the Nnamdi Azikiwe University (NAU), Awka, Anambra State, has exposed about N348.86...
N5 Billion On “Travel and Training”: Inside Dayo Mobereola’s First Full Year Of Questionable Spending As NIMASA DG
Spread the loveSecrets Reporters Dr. Dayo Mobereola was appointed Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA) in...
Exclusive: Federal Government Indicts MDGIF Director Oluwole Adama Of N33.6 Billion Under-Remittance of Gas Flares Penalty To Public Purse
Spread the loveSecrets Reporters Nigerians will be witnessing series of financial misappropriation investigation and public hearings of those heading government...
Exclusive: N1 Billion Into Private Pockets: How Finance Permanent Secretary Lydia Jafiya Routed Public Funds Through Personal Bank Accounts In Six Days
Spread the loveSecrets Reporters Public funds are meant to move through public channels via ministries, agencies, contractors with verifiable corporate...
Private Business Claims Linked to Permanent Secretary John Chidiebere Ezeamama in Violation of Code of Conduct for Civil Servants
Spread the loveSecrets Reporters SecretsReporters has reviewed public records concerning Dr. John Chidiebere Ezeamama, the Permanent Secretary of the...
N1.63 Billion Web of Questionable Spending Uncovered at Nigeria’s Peace Institute
Spread the loveBy Secrets Reporters SecretsReporters has obtained internal records exposing a pattern of financial irregularities at the Institute for...
Olodo Uprising: How MDGIF Boss Oluwole Adama Paid N326 Million To Take Advise Yet No Advise Was Given
Spread the loveSecrets Reporters The Executive Director of Midstream and Downstream Gas Infrastructure Fund (MDGIF), Mr Oluwoke Adama is in...
University of Ilorin, Kwara State: How ₦1.27bn in IGR and PAYE Remittances Went Unaccounted For
Spread the loveSecrets Reporters The University of Ilorin, Kwara State, has come under the radar of SecretsReporters over the...
FUT Minna Records N21.3m in Financial Irregularities Under 2019 Review
Spread the loveSecrets Reporters A review of the financial records of the Federal University of Technology, Minna, Niger State,...