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FG inaugurates presidential committee on loans recovery

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By Precious Enwenede, Abuja

A Presidential Inter-Agency Committee on recovery of loans granted to commercial banks and corporate organizations by Asset Management Corporation of Nigeria (AMCON) has been set up by the Federal Government.
This was revealed in a statement made available to the media on Monday by Comrade Salihu Othman Isah, spokesman of the Honourable Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami, SAN who said the inauguration was held on Thursday, 19th May, 2016 in Abuja.
Isah explained that the Minister who heads the Committee in his speech recounted that AMCON was established by the Act of the National Assembly to prevent the collapse of the Nigerian banking sector following the banking crisis as a result of the Bank Consolidation Reforms in 2008.
According to him, the AGF pointed out that the above situation led to huge indebtedness for banks which culminated in the eventual purchase of the toxic loans by AMCON in order to stabilize the banking sector, and by extension the Nigerian economy.
However, the debtors who cut across the aviation, banking and oil and gas sectors failed to repay the loans while some of them had resulted to court actions all in their bid to frustrate the loan recovery efforts of AMCON, surmising that in some cases, this was with active conspiracy of some financial institutions among others.
Malami explained that this resulted to Mr. President’s gracious approval and directive for the establishment of an Inter-Agency Committee by President Muhammadu Buhari to effectively pursue the loan recovery.
Among the terms of reference of the Committee are to ascertain the current status of AMCON recoveries in terms of achievement from inception to date as well as the total outstanding viz value of assets; and to ascertain how government at various levels can be made to honour their debt obligations to the Corporation.
It is also to request and obtain information from any person or persons and/or entity or entities onshore and offshore with the full support and weight of the Federal Government and her agencies towards the pursuit and realization of the Committee’s mandate; as well as to assist in third party investigation outside AMCON office relating to obligors and identify the criminal nature of commercial transactions that would assist in pursuing criminal prosecutions.
In addition, the Committee will ascertain how government agencies can collaborate to support AMCON’s recovery effort in; (a) ensuring payments due to Obligors are made to AMCON, (b) the possibility of going into a Joint Venture Agreement with AMCON (c) the acquisition of forfeited assets from AMCON and (d) take-over of recalcitrant businesses/companies where feasible.
It is also expected to establish the working framework for the Committee such that AMCON could have direct contact with the agencies for assistance and report be made to the Committee on achievement and challenges as well as to design and come up with workable strategies to pursue aggressive recovery of the AMCON loans.
Members of the Committee include representatives drawn from the following Ministries, Departments and Agencies (MDAs) are Mr. Abubakar Malami, SAN, Honourable Attorney General of the Federation and Minister of Justice, Federal Ministry of Justice as Chairman, Senator Hadi Sirika, Honourable Minister of State (Aviation), Inspector General of Police, Mr. Solomon Arase and Mr. Ibrahim Magu, Chairman, Economic and Financial Crime Commission (EFCC).
Others are the Alhaji Ahmed Idris, Accountant General of the Federation, Dr. Ibe Kachukwu, Group Managing Director Nigerian National Petroleum Corporation (NNPC), Dr. Abraham Nwankwo, Director General, Debt Management Office (DMO), Mr. Farouk Ahmed, Executive Secretary, Petroleum Products Pricing and Regulatory Agency (PPPRA) and Alhaji Ahmed Kuru, managing director, AMCON.

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Court stops APC, INEC from altering Benue APC primary winners

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The Federal High Court in Abuja has ordered the All Progressives Congress (APC) and the Independent National Electoral Commission (INEC) to maintain the status quo in a dispute over the party’s candidates emerging from the Benue State APC primaries for the 2027 general election.

The order was made on Thursday by Justice Inyang Ekwo during proceedings in Suit No. FHC/ABJ/CS/1429/2026, filed by Engr. Sesugh Akaagba and other aggrieved APC candidates from Benue State against the APC and INEC.
The plaintiffs had, through an ex parte motion filed on July 5, 2026, sought six interim reliefs, including an order restraining the APC from substituting its validly nominated candidates in Benue State through its June 29, 2026 correspondence, or any subsequent communication, to INEC, pending determination of the substantive suit.
They also sought an order compelling the APC to immediately transmit to INEC the names of candidates validly nominated during the primaries monitored by the electoral commission.

When the matter first came up on July 8, 2026, the court declined to grant the interim application immediately, directing both APC and INEC to appear and respond before any decision was taken. The matter was adjourned to July 16.

At Thursday’s proceedings, counsel representing the APC and INEC were present in court, while the plaintiffs were represented by Mohammed Ndarani, SAN, alongside his legal team.

In his ruling, Justice Ekwo held that since issues had been joined by the parties particularly with INEC now before the court, the defendants were required by law to preserve the subject matter of the litigation pending determination of the substantive suit.
When counsel to the plaintiffs urged the court to caution APC and INEC against taking any further action that could affect the disputed list of candidates, the judge responded that it was “not a matter of advice but of law,” stressing that the defendants were bound to maintain the status quo.

The court consequently restrained APC and INEC from taking any action capable of altering the disputed list of candidates pending the hearing and determination of the substantive suit.
The defendants did not object to the restraining order.
At the commencement of proceedings, the court noted that all parties had voluntarily submitted to its jurisdiction by duly filing and exchanging their respective processes.
It held that there was no procedural or jurisdictional impediment to the expeditious determination of the substantive action, and directed that the matter be heard without further delay.
In furtherance of the objective of preserving the res and safeguarding the efficacy of the judicial process, the court ordered all parties to maintain the status quo pending the hearing and final determination of the substantive suit, restraining any act or omission capable of prejudicing the rights of the parties or rendering the proceedings nugatory.
The court further directed that INEC be served forthwith with the originating and all consequential processes.
The effect of the subsisting order is that INEC is restrained from tampering with the existing list of candidates pending final determination of the suit, and from receiving, recognising, or acting upon any purported substituted list of National Assembly candidates from Benue State submitted by the APC.
The matter was adjourned to July 21, 2026, for hearing of the substantive suit.

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Goodluck Jonathan’s Family Celebrates Son’s Graduation in UK

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Former President Goodluck Ebele Jonathan and former First Lady Patience Ibifaka Jonathan recently celebrated a significant family milestone as they attended the graduation ceremony of their son, Ariara Goodluck Jonathan, at Manchester Metropolitan University in the United Kingdom.

The proud parents joined family members and well-wishers to witness Ariara receive his degree, marking the successful completion of his academic programme. The occasion was filled with joy as the Jonathan family commemorated the achievement, highlighting the importance they place on education and personal development.

The graduation ceremony attracted warm congratulatory messages from friends, associates, and admirers, who wished the graduate continued success in his future endeavours.

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2027 BENUE GUBER: MORE TROUBLE FOR GOV ALIA

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The Following names joined the political family of Sen. Dr. George Akume today after leaving the sinking Alia ship .

Under the leadership of Barr. Emmanuel Jime .

The are ;
Chief Nelson Alapa
Douglas pepe SAN senatorial Aspirant zone A,
Engr Peter Ashiekaa
QS Clement Beetseh
Former commissioners
Joy Luga
Ann itodo
Barr martins Shaagee
Miss Dorcas
Prof Usar Joseh
Prof Cephas Tushima
Chief Patrick Idoko
Hon Patience Akor
Hon Fred Idoko
Hon Lawrence Ekpo Onoja Jnr
Hon Andrew Abah
Hon Agbo Innocent Ikwumonu
Hon Simon Omachoko
Hon David Egboja
Dr John Garba
Among together,

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