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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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PDP Reaches Out to Peter Obi for 2027 Presidential Ticket

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In a major political development, Professor Jerry Gana, a founding member of the People’s Democratic Party (PDP), has confirmed that the party has officially reached out to Peter Obi, inviting him to return and contest the 2027 presidential election under the PDP banner.

Gana described the move as part of a broader strategy to reposition the party ahead of 2027 by rallying credible leaders with proven integrity. He emphasized Peter Obi’s strong grassroots appeal and untainted public record as key reasons the PDP wants him back.

“We have reached out to Peter Obi to return home for our party’s presidential ticket,” Prof. Gana stated.

Do you think Obi should return to the PDP or continue with his current coalition?

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Tinubu Engages Power Sector Leaders, Pushes for Lasting Energy Reforms

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President Bola Ahmed Tinubu on Friday held a strategic meeting with key stakeholders in Nigeria’s power sector at the Presidential Villa in Abuja, as part of renewed efforts to tackle the nation’s long-standing electricity issues.

The high-level session was chaired by the President, with his Chief of Staff, Femi Gbajabiamila, and Minister of Power, Adebayo Adelabu, in attendance.

Also present were some of the industry’s most prominent figures, including Heirs Holdings Chairman, Tony Elumelu; Chairman of the Association of Power Generation Companies, retired Colonel Sani Bello; Managing Director of Sahara Group, Kola Adesina; and Acting Chairman of the Nigerian Electricity Regulatory Commission (NERC), Musiliu Oseni.

The meeting focused on exploring sustainable solutions to Nigeria’s energy challenges, with a strong emphasis on collaboration, regulatory reform, and long-term investment.

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Prof. Nentawe Goshwe Yilwatda Elected as New APC National Chairman at Party’s 14th NEC Meeting

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In a significant development within Nigeria’s ruling political party, the All Progressives Congress (APC), Professor Nentawe Goshwe Yilwatda has been officially elected as the new National Chairman. His election was ratified at the 14th National Executive Committee (NEC) meeting of the party, held in Abuja on Wednesday.

The decision comes following weeks of internal consultations, with Yilwatda emerging as the consensus candidate after the resignation of former Chairman, Dr. Abdullahi Umar Ganduje. Party insiders say the move is part of broader efforts to reposition the APC ahead of upcoming state and national elections, as well as to stabilize internal party structures.

Prof. Yilwatda, a former university lecturer and current Minister of Humanitarian Affairs, is well-regarded in both academic and political circles. He previously served as the APC gubernatorial candidate in Plateau State during the 2023 elections and is known for his technocratic approach to leadership. His emergence as chairman is seen by some analysts as a strategic attempt by the APC to blend intellectual credibility with grassroots political experience.

Addressing the NEC and other stakeholders shortly after his election, Prof. Yilwatda expressed gratitude for the confidence reposed in him. He pledged to promote unity, discipline, and inclusivity within the party, stating that “a house divided against itself cannot stand.” He also emphasized the importance of returning the party to its founding ideals and promised to foster open dialogue and reconciliation among aggrieved party members.

The NEC meeting, which brought together top-ranking members including President Bola Ahmed Tinubu, Vice President Kashim Shettima, APC governors, national assembly members, and other party leaders, also featured deliberations on policy direction, party reforms, and electoral strategies.

President Tinubu, in his remarks, congratulated the new chairman and called for loyalty to the party’s mission of delivering good governance to Nigerians. He stressed the need for organizational discipline, urging members to support the new leadership in building a stronger and more cohesive APC.

As Prof. Yilwatda assumes leadership, expectations are high that he will help steer the APC through the evolving political landscape, mend internal rifts, and strengthen the party’s hold ahead of future elections.

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