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  •  Mr Tochukwu Okorie the embattled Chairman of the People s Democratic Party PDP Ebonyi chapter has described his alleged suspension by some members of the State Executive Committee SEC as a huge joke Okorie at a press briefing on Tuesday in Abakaliki noted that the allegation of financial impropriety levelled against him by dissident members of hellip
    My alleged suspension over alleged financial impropriety a huge joke-PDP chairman
     Mr Tochukwu Okorie the embattled Chairman of the People s Democratic Party PDP Ebonyi chapter has described his alleged suspension by some members of the State Executive Committee SEC as a huge joke Okorie at a press briefing on Tuesday in Abakaliki noted that the allegation of financial impropriety levelled against him by dissident members of hellip
    My alleged suspension over alleged financial impropriety a huge joke-PDP chairman
    General news8 hours ago

    My alleged suspension over alleged financial impropriety a huge joke-PDP chairman

    Mr Tochukwu Okorie, the embattled Chairman of the People’s Democratic Party (PDP), Ebonyi chapter has described his alleged suspension by some members of the State Executive Committee (SEC) as a ‘huge joke.’
    Okorie, at a press briefing on Tuesday in Abakaliki, noted that the allegation of financial impropriety levelled against him by ‘dissident’ members of the SEC was libelous adding that he had briefed his lawyers on the matter.
    The party leader therefore urged PDP faithful, supporters and the general public to ignore and disregard the purported suspension and alleged financial impropriety made against him.
    He said: “The allegations of financial impropriety against my person is libellous, a huge joke and I have briefed my solicitors accordingly.”
    Okorie was allegedly suspended by some members of the SEC in an emergency meeting it held on July 4 which was presided over by Mr Ifeanyi Nworie, the state deputy chairman of the party for allegedly misappropriation of party fund to the tune of N55 million.
    Okorie while reacting to the alleged suspension and allegation of financial misappropriation, noted that a sum of N50 million was withdrawn by Mr Silas Onu when he was removed briefly in office by a Federal High Court in Abakaliki on April 13.
    According to him, while the appeal was pending in Court of Apppeal, and in disregard to a letter to the management of the Access bank advising against having any financial dealing with Onu who was recognised by a federal high court judgement as chairman.
    He said: “Before I left, I got brief of what was about to happen and my lawyers immediately sent a caveat in other words a pre-warning to Access bank telling the bank that there should be no dealing in that account whatsoever way either by me or anyone else.
    “Because there was a pending case, any matter of PDP is subjudice and the letter was sent and duly acknowledged, but not withstanding the letter, Onu by hook or by crook gained access to the fund.
    ” By the Appeal Court ruling of May 24, Mr Silas Onu was never a chairman of the PDP in Ebonyi and has no right to access the party’s fund.
    “I cannot be accused of any financial misappropriation because I legitimately did what I had to do as the chairman of the party for the party to move forward.”
    Okorie said that SEC received a memo for the ratification of the suspension of certain members of the SEC over alleged infractions adding that the memo was based on the decision of the SEC following a petition brought by one Mr Reuben Okuri of Akaezeukwu ward.
    He listed the affected members to include; Messrs Ifeanyi Nworie (state dep. chairman), Mr Chika Nwoba (Publicity secretary), Mr Mudiaga Erhenede (Legal Adviser) and Obinna Iteshi (Treasurer).
    “The above-named persons are accused of infractions as outlined in Section 58 (1) of the Constitution of the PDP 2017 as amended.
    “The petitioner had also attached a sworn affidavit in support of his petition. SEC unanimously approved and ratified the suspension for the period of one month as presented in the memo,” he said.
    Okorie commended resilience of the party members for standing up against plots by some elements in the party to destroy it.
    “SEC appreciates and commends the resilience of the teeming members of the PDP and indeed the entire good people of Ebonyi who have doggedly insisted on standing with the party in the face of the ferocious onslaughts constantly launched against it by enemies within and outside.
    “SEC wishes to assure Ndi Ebonyi that no amount of hooliganism will distract from our determination to kick out APC from Ebonyi Government House come 2023.
    “To this end, SEC enjoins our people to stay focused, eyes on the ball and refuse to be distracted, intimidated and or cajoled as they prepare to cast their votes in forthcoming elections,” he said.”

    NewsSourceCredit: NAN

  •   A faction of the Peoples Democratic Party PDP in Ekiti has sworn in Mr Alaba Agboola as the state substantive chairman The News Agency of Nigeria reports that Agboola and some others who claimed to be members of the State Working Committee on Tuesday stormed the party s secretariat in the Ajilosun area amidst tight security hellip
    Agboola emerges as factional chair of Ekiti PDP
      A faction of the Peoples Democratic Party PDP in Ekiti has sworn in Mr Alaba Agboola as the state substantive chairman The News Agency of Nigeria reports that Agboola and some others who claimed to be members of the State Working Committee on Tuesday stormed the party s secretariat in the Ajilosun area amidst tight security hellip
    Agboola emerges as factional chair of Ekiti PDP
    General news15 hours ago

    Agboola emerges as factional chair of Ekiti PDP

      A faction of the Peoples Democratic Party (PDP) in Ekiti has sworn in Mr Alaba Agboola as the state substantive chairman.

    The News Agency of Nigeria reports that Agboola and some others who claimed to be members of the State Working Committee on Tuesday stormed the party’s secretariat in the Ajilosun area amidst tight security for the swearing-in.

    They were presented with relevant documents of the party by the Acting Chairman, Mr Lanre Omolase.

    Agboola replaced the party’s governorship candidate in the last election, Mr Bisi Kolawole, who resigned as the state chairman to contest the election.

    NAN recalls that Agboola appointment was earlier announced on Monday in a statement jointly signed by Omolase and the party’s secretary, Mrs Funmi Ogun in Ado-Ekiti.

    The statement said that Agboola’s appointment was among the resolutions at the State Executive Committee (SEC) meeting held in Ado Ekiti.

    Omolase, while speaking on Tuesday after the swearing-in, described Agboola as the authentic chairman backed by the constitutional provision and the party’s guidelines.

    He said that the constitution of the party had empowered them to appoint a substantive chairman following the resignation of the former chairman, Kolawole

    “The constitution of the party has given us the power to appoint a substantive chairman and members of that committee of the committee are 68 in number.

    “And since the exercise is coming under my leadership as the Acting Chairman, I only need 26 members of that committee to confirm the appointment of Engr. Agboola.

    “We are not closing our eyes at what a group of people are doing and I want to tell you straight away in the presence of the press that they lacked constitutional power, they lack the zeal, they lack the morality to carry out such an action,” he said.

    Agboola, in his acceptance speech, said it was time for party members to work together as one big family. He also promised to ensure members were on the same page.

    Ogun, the party secretary , said the members present at the inaugural meeting were the authentic members who have the constitutional right to appoint the party chairman.

    She disclosed that the leadership of the party and members of the SEC had met on Monday to deliberate on the vacant chairmanship seat.

    Meanwhile, Mr Deji Ogunsakin, a former Deputy Governorship candidate of the party, had also claimed to be the authentic state chairman of the party.

    He based his claim on having met the party’s constitution requirement on the numerical strength of supporting members.

    Ogunsakin, who spoke to journalists in Ado-Ekiti, described the purported swearing-in of Agboola as illegal and a nullity.

    He said those involved in the process had no power according to the party constitution to carry out such function.

    Ogunsakin said he was awaiting his swearing-in by the national headquarters of the party to formally take over the affairs of the party in the state.

    He said by every standard, his appointment as the chairman followed due process and of which the SEC gave its blessings.

    Ogunsakin pledged to work assiduously for the emergence of Alhaji Atiku Abubakar as the president of Nigeria come 2023.

    Mr Raphael Adeyanju, the party’s Publicity Secretary in Ekiti, had also in a statement on Monday in Ado-Ekiti, urged the public to ignore the purported appointment of Agboola as the party’s substantive Chairman.

    According to him, the entire process of appointment of the State Party Chairman is exclusively the responsibility of the SEC which comprises all major stakeholders of the party, numbering about 60.

    “The meeting of the SEC is ongoing at present to ratify the nomination of the central senatorial district, thus satisfying Section 47 (6) of the party constitution.

    “The name of the substantive state chairman of PDP, as confirmed by SEC, will be announced shortly.

    “Please ignore all other communications that is not from the official spokesperson of the party.” Adeyanju said.

    NewsSourceCredit: NAN

  •  Alhaji Lamido Yuguda the Director General Security and Exchange Commission SEC says the commission is working to ensure it reduces the level of unclaimed dividends to zero percent In an interactive session with editors on Tuesday in Lagos Yuguda said that unclaimed dividends rose to N180 billion as of Dec 31 2021 This continues to be hellip
    Unclaimed dividends hit N180bn as SEC strives to achieve zero percent
     Alhaji Lamido Yuguda the Director General Security and Exchange Commission SEC says the commission is working to ensure it reduces the level of unclaimed dividends to zero percent In an interactive session with editors on Tuesday in Lagos Yuguda said that unclaimed dividends rose to N180 billion as of Dec 31 2021 This continues to be hellip
    Unclaimed dividends hit N180bn as SEC strives to achieve zero percent
    Economy1 week ago

    Unclaimed dividends hit N180bn as SEC strives to achieve zero percent

    Alhaji Lamido Yuguda, the Director-General, Security and Exchange Commission (SEC), says the commission is working to ensure it reduces the level of unclaimed dividends to zero percent.In an interactive session with editors on Tuesday in Lagos, Yuguda said that unclaimed dividends rose to N180 billion as of Dec. 31, 2021.“This continues to be an important area of concern for the commission and we have been engaged in tackling it in the capital market,’’ the director-general said.Although N180 billion in unclaimed dividends is a large amount, Yuguda said that the amount constituted only five percent of the quantum of dividends declared in the entire capital market.“That is a large amount, but when you compare that with the total amount of dividends declared in the Nigerian capital market, these unclaimed dividends amount to about five percent of the total amount of dividends declared.“Although five percent is still not the ideal number, it should be zero percent.“Every person, who has come to the capital market and invested money, should be able to get his dividends as and when due,’’ Yuguda saidHe also said that SEC is working with the Central Securities Clearing System (CSCS) and other stakeholders in the industry to address the issue of unclaimed dividends.“The SEC has been working with CSCS, Registrars, and the stockbrokers to make sure that every market appraisal makes it easy for the clients to fill their mandate form.“We are also making sure that investors continue to get their dividends.’’He also said that the Federal Government intervened last year by enacting a Finance Act on Unclaimed Dividends Fund.“The government is looking at unclaimed monies both in the capital market and the banking system and established a fund that will actually access through dividends that have been unclaimed for a certain number of years that meet certain basic definitions.“It is not that the government has taken over the money, but when the claimants eventually surface, there is a system for recovering.“Every person who has come to the capital market and invested money should be able to get his dividends as and when due,” he added.He noted that SEC would continue working to ensure it gets to the zero percent level, saying that “there is a need for strong investor education to achieve success.NewsSourceCredit: NAN

  •  Enugu State Government says it has reached a collaborative agreement with the Nigerian Sovereign Investment Authority NSIA for the upgrade of the State Medical Diagnostic Centre Enugu for the treatment of cancer This is contained in a statement by the Commissioner for Health Dr Emmanuel Obi made available to newsmen in Enugu According to him hellip
    Enugu Govt collaborates with NSIA on Medical Diagnostic Centre
     Enugu State Government says it has reached a collaborative agreement with the Nigerian Sovereign Investment Authority NSIA for the upgrade of the State Medical Diagnostic Centre Enugu for the treatment of cancer This is contained in a statement by the Commissioner for Health Dr Emmanuel Obi made available to newsmen in Enugu According to him hellip
    Enugu Govt collaborates with NSIA on Medical Diagnostic Centre
    General news2 weeks ago

    Enugu Govt collaborates with NSIA on Medical Diagnostic Centre

    Enugu State Government says it has reached a collaborative agreement with the Nigerian Sovereign Investment Authority (NSIA) for the upgrade of the State Medical Diagnostic Centre, Enugu for the treatment of cancer.

    This is contained in a statement by the Commissioner for Health, Dr Emmanuel Obi, made available to newsmen in Enugu.

    According to him, the agreement is based on a comprehensive Diagnostic and Oncology (Cancer) treatment Centre.

    Obi disclosed that the State Executive Council (EXCO), sequel to the agreement, approved the evacuation of the existing equipment in the centre, as requested by NSIA to enable it to take over the health facility.

    He added that the SEC also approved that the evacuated equipment would be put to good use at ESUT Teaching Hospital, Parklane, Enugu and other hospitals in the state.

    The Health Commissioner also said that government “sees a greater opportunity for more efficient services to its citizens and beyond, through this collaboration”.

    NewsSourceCredit: NAN

  •  Nigeria s energy solutions provider Oando has finally released its long anticipated full year 2019 and 2020 financial statements The company confirmed the development in a statement issued on its website on Wednesday and obtained by the News Agency of Nigeria in Lagos The statement said the three year delay in the release of the company s results was precipitated hellip
    Oando resolves shareholder dispute, announces 2019, 2020 results
     Nigeria s energy solutions provider Oando has finally released its long anticipated full year 2019 and 2020 financial statements The company confirmed the development in a statement issued on its website on Wednesday and obtained by the News Agency of Nigeria in Lagos The statement said the three year delay in the release of the company s results was precipitated hellip
    Oando resolves shareholder dispute, announces 2019, 2020 results
    General news2 weeks ago

    Oando resolves shareholder dispute, announces 2019, 2020 results

    Nigeria’s energy solutions provider, Oando has finally released its long-anticipated full-year 2019 and 2020 financial statements.

    The company confirmed the development in a statement issued on its website on Wednesday and obtained by the News Agency of Nigeria in Lagos.

    The statement said the three-year delay in the release of the company’s results was precipitated by the Securities and Exchange Commission’s (SEC) suspension of Oando’s 2018 Annual General Meeting (AGM).

    It said this was due to a dispute with an indirect shareholder, Ansbury Investment Inc.

    “The suspension of the company’s 2018 AGM and attendant issues prevented shareholders from being kept abreast of business operations, a move decried on numerous occasions by Oando and her executives as not being in the best interests of the market.

    “In July 2021, Oando entered into a settlement with the SEC on all matters subject to litigation and other issues flowing therefrom, thus putting an end to one part of the dispute with Ansbury.

    “Key for Oando was that the SEC did not find the company guilty of any wrongdoing and by way of a settlement, was able to prevent further market disruption and harm to Oando Plc’s shareholders,” the statement said.

    According to the statement, after 12 consecutive quarters of profits up until third quarter, 2019, the company reported in its 2019 audited financials a loss-after-tax of N207.1 billion.

    It said this was largely attributable to impairments for goodwill and loans associated with the indirect shareholder dispute.

    “The settlement of this long-running dispute led to an impairment of N148 billion on financial assets but forms the final resolution and settlement of the dispute with Ansbury.

    “The company has been resolute in reiterating that all actions taken to date have always been in the interests of all Oando shareholder.

    “Furthermore shareholders have consistently asked the company to take all necessary steps to resolve this dispute and move the business forward.

    “The actions of both SEC and the indirect shareholder contributed largely to eroding its stock’s value significantly from its listing price of an average of N9 per share in 2017, to an average N3 per share in 2022,” it said.

    It said despite the loss, this one action had far-reaching and positive implications – the settlement finally takes Ansbury out of the picture and would be a welcome relief for the company, shareholders and market.

    The statement said it would finally allow the management to focus their efforts on setting a new path for growth and value creation for her shareholders.

    It said with 2019 behind it, the company faced a new challenge in 2020 in the form of the COVID-19 pandemic which negatively affected all corporates not just those operating in the oil and gas sector.

    “In the company’s 2020 full year end financials, a loss after tax of N132.6 billion, a 36 per cent drop from 2019, was reported. A positive skew in results from the previous year,” the statement said.


    NewsSourceCredit: NAN