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AMCON Seizes Oduah’s Assets over N20bn Debt .

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The Asset Management Corporation of Nigeria has taken over Sea Petroleum Oil & Gas Ltd. and other assets belonging to Senator Stella Oduah-Ogiemwonyi over a debt of about N20bn.AMCON said the takeover followed an injunction granted by Justice M.S. Hassan of the Federal High Court, Lagos, against the Sea Petroleum Oil & Gas Ltd.

The corporation, in a statement by its Head, Corporate Communications, Jude Nwauzor, on Friday said that Oduah-Ogiemwonyi had been having a running battle with AMCON over her “inability to settle her huge debt of nearly N20bn.”
The statement said that AMCON purchased the Eligible Bank Assets of Sea Petroleum & Gas from Union Bank Plc sometime in 2012.

It said that in spite of overtures and genuine efforts made by AMCON to reach an amicable settlement, the senator and her co-promoters had been uncooperative.

“Having xhausted all avenues of peaceful resolution of the humongous debt, AMCON had no other choice than to refer the matter to court,” the statement said.

It said that the order also affected the senator’s other business interests, for which AMCON had since appointed Moyosore Jubril Onigbanjo (SAN) as receiver over the assets of Oduah-Ogiemwonyi; Sea Petroleum Oil & Gas; Sea Petroleum and Gas FZE as well as Star Tourism and Hotels Ltd.

The statement said that the court also ordered the freezing of the funds of Sea Petroleum & Gas and its affiliated companies and principal promoters, held anywhere by any entity or persons in Nigeria.It also authorised AMCON and its receiver, Onigbanjo, to take over all assets pledged as collateral for the facility by Sea Petroleum Oil & Gas Ltd.

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I Was Expelled From School Because Of Fela Kuti – Movie Director, Andy Boyo

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Renowned movie director and patron of the Directors Guild of Nigeria (DGN), Andy Boyo, has shared how he was expelled from school because of the legendary Fela Anikulapo Kuti.

Fela, a Nigerian artist and political advocate, passed away in Lagos, Nigeria, in 1997 at 58

Fela is seen as the main creator of Afrobeat, a Nigerian music style that mixes West African rhythms with American funk and jazz.

Boyo, however, is preparing to bring the iconic life of the Afrobeats legend to the silver screen in a much-awaited biographical film.

After three years of planning, Boyo has obtained the rights to the music and is ready to begin filming in Nigeria, the UK, and the US in 2025.

Rumours suggest the high-profile movie will have an extensive cast, including 27 actresses portraying Fela’s wives.

Boyo, recognized for his successful films such as “Untamed” and “Spirit of Assassins,” will also direct, write, and produce the biographical film.

Speaking on his love for Fela and the project he is working on.

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‘‘Not an inch of our land will be ceded to Lagos, Ondo” – Gov Abiodun

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Ogun Governor, Dapo Abiodun, has assured the people of Waterside Local Government that his administration would not cede any part of the state to other states in the country.

Governor Abiodun gave the assurance at a meeting with representatives of the local government, made up of traditional rulers, technocrats, and prominent government functionaries, at Government House, Abeokuta.

The former Commissioner for Education, Science and Technology, Prof. Segun Awonusi, said the governor has taken note of reported incursions into parts of the state from neighbouring states and has taken steps to address the issue.

Prof. Awonusi said: “We have come here to discuss the affairs of the local government with the governor. We appreciate him for what he has done so far, and we urge him to do more.

“Because of reports of incursions from Lagos and Ondo states on Ode-Omi and Makun to seize parts of our land, the governor has promised that he will ensure that not an inch of Ogun State is lost to any other state.

“He has also promised to provide adequate security so that our people can live in peace.”

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Tinubu’s Tax Reform Bill Doesn’t Discriminate Against The North -Shehu Sani

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“The Tax reform Bill is not inimical to the North or any part of this country. Its in fact economically beneficial and fair to all parts. People should keep aside sentiments and read the Bill carefully. Its a comprehensive and bold move to harmonise and simplify tax administration and streamline it’s operations and enforcement.

“The Bill will actually generate and safeguard more revenue to the states. It will also combat the corruption in the so called tax waivers granted to business cabals. There is nowhere in the document where any region will be shortchanged or taxes will be increased or jobs will be lost.

“Northern Governors should rescind their decision to reject the Bill, take time to read it and make inputs where necessary. NASS must treat this important Bill with all seriousness. Just read the content of the Bill.” -Senator Shehu Sani

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