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Former Ondo State Governors, Deputies to Receive Pension of N10.916bn

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Ondo state pension of former governors and their deputies in would consume N10.916bn in this year’s budget.

Ondo state Commissioner for Economic Planning and Budget, Mr Emmanuel Igbasun, said this in Akure while analyzing the 2021 budget.

Mr Igbasan said that the N174.873bn Ondo 2021 budget has provision for N69.915 for capital projects and N79.084 for recurrent expenditure.

According to commissioner of economic planning and budget ” the payment of pension to former Governors and Deputy Governors would continue as the sum of N10.916bn has been set aside for payment of pensions and gratuities.

He explained that the planned Ondo deep seaport would gulp the sum of N525m while N608m would be expended on drilling of boreholes and other water scheme projects.

On expected revenue, Igbasun said the state hoped to raise N28.778bn from Internally Generated Revenue adding that efforts would be geared towards expanding the fiscal space by broadening the tax base.

He said “in order to maintain and sustain all the laudable capital projects being put in place by the present administration, adequate provision was made for maintenance recurrent expenditure in 2021 budget.

“This budget is intended to help us realise our collective dreams and aspirations for the state while working in partnership with the private sector.

Igbasan said, ” It is our belief that the full and proper implementation of the provisions of the 2021 budget will lead us towards becoming a society that is self-reliant and less dependent of statutory transfers from the federation account.”

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Commercial Flight set to Commerce at Anambra International Airport

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Anambra Airport

Commercial flight set to commerce full operation at the Anambra International airport, Nigeria.

Indeed what has for a very long time seemed an impossible dream to Ndi Anambra, having their own airport for easy movement of passengers, goods and services has finally become reality.

Come Saturday, October 30, 2021, the first commercial passenger plane will land at the Anambra International Cargo and Passenger Airport at Umueri, signalling the commencement of commercial activities at the airport which was wholly constructed by the government of Anambra state, under the able leadership of His Excellency, Governor Willie Obiano.

The international airport which took only fifteen (15) months to construct with Anambra state owned resources, and without the state governor borrowing from any financial institution will ease the sufferings of travellers, traders and other businessmen and women in nearby Onitsha, Nnewi, Awka and other Anambra towns. Also Ndi Anambra and other visitors who have for long endured the difficulties of both local and international travels will heave a sigh of relief, as they have for long endured the tortuous travel to Anambra through airports at Enugu, Asaba, Owerri, and Port Harcourt.

While breaking the news exclusively pressmen, Governor Willie Obiano said, “I thank the management team of the various regulatory agencies including Nigerian Civil Aviation Authority (NCAA), Federal Airports Authority of Nigeria (FAAN) and others for their support in making the Anambra airport project a reality”.

Continuing, Governor Obiano said, “I want to thank the good people of Anambra state who have kept faith with my administration. I am happy that I and my team have been able to deliver on the airport project and in record time. We give all glory to the almighty God. We have once again shown our resilient Anambra spirit. I believe that with the commencement of commercial activities at the Anambra International Cargo and Passenger Airport, and soon -to- be launched 10,000 capacity Anambra International Convention Centre, Anambra state is entering a new era of economic development and prosperity”.

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N780m Fraud: Former SGF Anyim Spends day 3 in EFCC Cell

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Picture of Pius Anyim

Former SGF Pius Anyim spend day 3 in EFCC cell over N780m fraud in connection with ex aviation minister.

The former Secretary to the Government of the Federation, Pius Anyim, has spent the third night in the custody of the Economic and Financial Crimes Commission, Abuja, where he is being held since Sunday afternoon in connection with the ongoing probe of a former Aviation Minister, Senator Stella Oduah.

Pius Anyim, who responded to an invitation from the anti-graft agency in respect of a N780 million aviation ministry’s fund, has been held since Sunday afternoon.

The former Senate President was grilled on Sunday for several hours in connection with the fund which was traced to a company in which he was a director.

The detention of the former SGF is coming days after Oduah was named in the Pandora Papers as one of 10 Nigerians hiding their wealth in tax havens.

The EFCC is believed to have commenced a probe of Oduah and others named in the report.
Our correspondent gathered that the 60-year-old was again quizzed on Monday on how the ministry’s fund found its way into his company’s account and his relationship with Oduah.

Sources said Anyim, who was Senate President between 2000 and 2003, would be released after the investigators are satisfied with his responses to the series of questions put to him in respect to the slush fund.
It was learnt that the principal suspect in the matter, Oduah, would soon be invited for a session with the investigators.

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Crypto: High Court Unfreeze “Rise Vest” Accounts

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Abuja Federal high court unfreeze “Rise Vest” account that was initially blocked by Central Bank of Nigeria over crypto currency transaction.


The Federal High Court sitting in Abuja has vacated an interim court order through which the Central Bank of Nigeria (CBN) froze the bank accounts in two banks of a firm that traded in cryptocurrency.

The firm, Rise Vest Technologies Limited, is one of the firms offering brokerage services for Nigerians to invest in foreign stocks.

Central Bank of Nigeria had claimed, among others, that some of such deals contravened its directive and were part of what was making the Naira weaker to the United States Dollar.

But Justice Taiwo O. Taiwo held that the CBN could not rely on a circular to freeze the bank account of a company using its bank accounts to trade in cryptocurrency.

The judge highlighted that the CBN failed to provide any law showing that trading in crypto currency is illegal in Nigeria, adding that the CBN circular, referenced as BSD/DIR/PUB/LAB/014/001 of February 5, 2021, is not a law.

Justice Taiwo ordered the banks – Zenith Bank Plc and Guaranty Trust Bank – to immediately grant the firm unfettered access to the accounts.

The court, in an October 18 ruling obtained by Nairagists on Monday, made the order while deciding a Motion on Notice brought by Rise Vest Technologies, praying the court to discharge an interim freezing order granted by the court on August 17, 2021, in Suit No: FHC/ABJ/CS/822/2021

The parties to the suit are CBN Governor (Plaintiff/Respondent) V Rise West Technologies Ltd (1st Defendant/Applicant) & five others.

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