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N20bn BAILOUT: Kogi agrees to return N19.3bn to CBN, as EFCC discontinue suit

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Justice Chukwujekwu Aneke of the Federal High Court sitting in Ikoyi, Lagos, on Friday, October 15, 2021, granted the application filed by the Economic and Financial Crimes Commission, EFCC, seeking to discontinue the matter in Suit No. FHC/L/ CS, 1086/2021 involving the N20bn Kogi State Salary bail-out loan.

The application, according to the Commission’s counsel, Kemi Pinheiro, SAN, is sequel to the decision of the management of Sterling Bank Plc to return the total sum of N19, 333,333,333.36 standing in the credit of the frozen account back to the Central Bank of Nigeria.

On August 31, 2021, Justice Tijani Garba Ringim, a vacation Judge, had ordered the freezing of the account, following an ex-parte application filed by the EFCC.

The EFCC, in a 13-paragraph affidavit in support of the ex-parte application, had stated that it received a credible and direct intelligence, which led to the tracing of the funds reasonably suspected to be proceeds of unlawful activities in an account No. 0073572696 domiciled in Sterling Bank, Plc with the name Kogi State Salary Bailout Account.

Moving the application for the interim forfeiture of the funds on August 31, 2021, A. O. Mohammed, counsel to the EFCC, had urged the court to grant the Order so as to prevent further dissipation of the funds in the account.

Mohammed had also told Justice Ringim that the N20 billion loan meant to augment the salary payment and running cost of the government was kept in an interest-yielding account with the Bank.

According to him, “ Instead of using the money for the purpose it was meant for, Sterling Bank Plc, acting on the instruction of the Kogi State Government, transferred the money from the loan account and placed it in a fixed deposit account.”

Mohammed further told the court that the Bank had yet to present any credible evidence to show that the facility was well secured.

After listening to the applicant’s counsel, Justice Ringim had ordered the freezing of the account number 0073572696, and also directed the publication of the order in a national newspaper by the EFCC.

At the last adjourned sitting, counsel to the Kogi State government, Prof. Sam Eguro,SAN, had told Justice Aneke, whom the matter was re-assigned to, that his client had filed processes against the interim order granted by Justice Ringim, and that the EFCC had equally filed reply to the same.

Erogbo, had, therefore, told the court that he needed time to respond to the EFCC’s counter-claim and also asked for a short date to hear his applications.

In his response, counsel to the EFCC, Rotimi Oyedepo, had admitted being served with the processes, and added that he had equally filed his counter.

Consequently, Justice Aneke adjourned to today for hearing of all applications.

At the resumed sitting today, counsel to the EFCC, Kemi Pinheiro, SAN, told the court that the management of Sterling Bank Plc, where the account number 0063572696 with the name Kogi State Salary Bail-out account is domiciled had acknowledged the existence of the said account in its book, “but claimed the same was a mirror account.”

He further told the court that the management of Sterling Bank, where account number 0073572696 with the name Kogi State Salary Bail-out account is domiciled had clarified the questions leading to the commencement of the suit.

He further told the court that “The sum of N19, 333,333,333.36 is still standing in the

Credit of the account frozen pursuant to the Order of this Honorable Court”, adding that “That the management of Sterling Bank PIc, where account No. 0073572696 is domiciled has, pursuant to a letter dated 15 September, 2021, signed by its Managing Director ,indicated  intention to return the total sum of N19,333,333,333.36 back to the Central Bank of Nigeria.”

He, therefore, prayed that it “is expedient for the instant suit to be discontinued and

the account unfrozen to enable the management of Sterling Bank PIc effect the transfer/ return of the sum of the sum of N19, 333, 333, 333.36 back to the coffer of the Central Bank of Nigeria , where the said bailout funds was disbursed.”

In his response, counsel to the respondent, Eguro, acknowledged the notice of discontinuation.

In his ruling, Justice Aneke held that, “since this is what they are asking for, the application is therefore granted

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Defending Professional Integrity: Why INEC Chairman Amupitan Deserves Fair Judgment

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By James Aduku Odaudu, PhD

By any objective standard, the recent call by the Muslim Rights Concern (MURIC) for the removal of the Chairman of the Independent National Electoral Commission (INEC)”, Prof. Joash Amupitan is troubling—not just for its content, but for what it portends for Nigeria’s democracy.

At stake is a fundamental principle: should professional work, undertaken years before public appointment, be weaponised to undermine independent institutions? If the answer is yes, then Nigeria risks dismantling the very foundations of competence, fairness, and intellectual freedom upon which democratic governance rests.

The controversy centres on a legal brief authored by Prof. Amupitan in 2020, long before his appointment as INEC Chairman. The brief, commissioned by international organisations, was a professional legal analysis of allegations of mass violence in Nigeria. As a Senior Advocate of Nigeria and constitutional lawyer, Prof. Amupitan was well within his professional remit to offer expert opinion on a matter of international legal concern.
Lawyers, academics, and policy experts routinely produce work that interrogates difficult, even uncomfortable realities. Such work does not automatically translate into personal belief, religious prejudice, or political intent. To argue otherwise is to misunderstand the nature of professional service and to punish intellectual honesty.
If legal opinions are retrospectively criminalised or politicised, then Nigeria sends a chilling message to its best minds: think carefully before you speak truth to power or engage global discourse.

Prof. Amupitan’s appointment was not accidental, nor was it cosmetic. INEC is a constitutionally driven institution whose effectiveness depends on deep legal knowledge, respect for due process, and institutional independence. Prof. Amupitan brings to the office:
 Profound expertise in constitutional and electoral law
 Years of experience in legal scholarship and public policy analysis
 A reputation for intellectual rigour and independence, essential for an electoral umpire

Nigeria does not need a populist at the helm of INEC; it needs a jurist who understands the Constitution, electoral jurisprudence, and the delicate balance between law, politics, and national stability. On these counts, Prof. Amupitan is eminently qualified.

In a constitutional democracy, public officials are entitled to the presumption of good faith until evidence proves otherwise. Since assuming office, Prof. Amupitan has not been accused of electoral malpractice, partisan conduct, or abuse of power. No court has indicted him. No credible evidence has been presented showing bias in the discharge of his duties.
To demand his removal based on conjecture or past professional work is not only unfair—it is dangerous. It lowers the threshold for institutional sabotage and replaces due process with pressure politics.

Ironically, MURIC’s position does more harm than good to the Muslim community it claims to defend. By suggesting that critique of banditry or terrorism is an attack on Islam, the organisation inadvertently projects criminal behaviour onto an entire religious group.

Banditry, insurgency, and terrorism are crimes, not articles of faith. Millions of Nigerian Muslims are victims of insecurity themselves and have no affiliation with violent groups. Any narrative that blurs this distinction reinforces stereotypes and undermines interfaith harmony.
Advocacy should protect communities, not entangle them in criminality by implication.
INEC’s credibility is too important to be subjected to religious or sectional pressure. Once faith-based organisations begin to demand the removal of electoral officials without evidence of misconduct, Nigeria steps onto a slippery slope—one where elections become hostage to religious suspicion rather than constitutional order.

Civil society has a right to speak. But that right must be exercised responsibly, especially when national institutions are involved.

Let INEC Work

Nigeria stands at a sensitive democratic juncture. What the country needs is a calm, focused electoral commission allowed to prepare for credible elections—not a distracted leadership fighting off speculative allegations.
Prof. Joash Amupitan should be allowed to do the job he was appointed to do. He should be judged by his actions in office, not by professional work undertaken years earlier. Anything less undermines fairness, weakens institutions, and politicises religion in ways Nigeria can ill afford.

In defending due process and professional integrity today, Nigeria protects its democracy tomorrow.

Dr James Odaudu, a development administrator and communication consultant, can be reached at jamesaduku@gmail.com and 08057314611 (WhatsApp only)

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Yakubu Mohammed, Newswatch co-founder, dies at 75

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Yakubu Mohammed, co-founder of the defunct Newswatch magazine, is dead.

He was 75 years of age.

Mohammed’s death comes less than two months after the passing of another Newswatch co-founder, Dan Agbese, who died on November 17, 2025.

The late journalist had launched his memoir, ‘Beyond Expectations’, on November 4, 2025.

He was reportedly battling a prolonged ailment before his death.

An official statement from the family was still pending as of press time.

Mohammed, who held a bachelor’s degree in science, was born on April 4, 1950.

He hailed from Ologba in Dekina LGA of Kogi state.

He attended St Joseph’s Primary School, Ayangba, in 1964; Government Secondary School, Okene, between 1965 and 1969; the University of Lagos from 1972 to 1975; and Glasgow College of Technology in Scotland between 1978 and 1979.

His journalism career included stints as associate editor at New Nigerian Newspapers from 1976 to 1980, managing editor of the same organisation in 1980, and deputy editor at National Concord between 1980 and 1982.

Mohammed later served as editor of National Concord from 1982 to 1984 before becoming co-founder and executive editor of Newswatch between 1984 and 1986.

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He was managing editor of Newswatch from 1986 to 1994 and subsequently served as
deputy chief executive officer of Newswatch Communications Limited from 1994.

Mohammed was also a director at Yadara Nigeria Limited and Lastop Limited.

He was a member of the Nigerian Union of Journalists, the Commonwealth Journalists’ Association, and the Nigerian Guild of Editors.

The veteran journalist also served as pro-chancellor and chancellor of the governing council of Ahmadu Bello University.

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Real Madrid sack Xabi Alonso

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In a stunning development, Real Madrid have announced that they have decided to part ways with manager Xabi Alonso with immediate effect.

“Real Madrid CF announces that, by mutual agreement between the club and Xabi Alonso, it has been decided to end his time as first team coach,” the statement from the club read.

Alonso was brought in as manager back in June 2025, replacing Carlo Ancelotti, who left for the Brazilian national team.

Despite showing positive signs during his time at the club, the 44-year-old tactician has largely found things difficult, especially over the past month or two, with injuries, poor results, and dressing room unrest causing problems.

The recent Spanish Super Cup semifinal win over Atletico Madrid was believed to have earned him more time to stabilise things.

But following last night’s final loss to FC Barcelona has prompted the club to act, with Florentino Perez & co. axing the manager.

“Xabi Alonso will always have the affection and admiration of all Madrid fans because he is a Real Madrid legend and has always represented the values ​​of our club. Real Madrid will always be his home,” the statement continued.

“Our club thanks Xabi Alonso and his entire technical team for their work and dedication during this time, and wishes them the best of luck in this new stage of their lives.”

…Appoints Alvaro Arbeloa as Replacement

Minutes after confirming their decision to sack Xabi Alonso, Real Madrid have now announced that former defender Alvaro Arbeloa will replace him as the first-team manager.

“Real Madrid CF announces that Alvaro Arbeloa is the new first team coach,” the club statement read.

A former Real Madrid player, Arbeloa spent seven seasons at the Santiago Bernabeu between 2009 and 2016, making over 200 appearances and winning several trophies and titles.

In 2020, after retiring, Arbeloa returned to the club, joining La Fabrica as a coach. He managed the Infantil A team in the 2020-2021 season, winning the league title, the Cadete A team in 2021-2022, and the Juvenil A team from 2022 to 2025.

As Juvenil A manager, he achieved the treble in 2022-2023 (League, Copa del Rey, and Champions Cup) and the league title in the 2024-2025 season.

Last summer, he was promoted to the position of the Castilla manager, taking over from another club legend, Raul Gonzalez.

In a short time with the reserve team, Arbeloa has done a solid job, enough to impress the management to hand him the keys to the first team.

Arbeloa’s first assignment will come later this week as Real Madrid take on Albacete in the Copa del Rey Round of 16 on Wednesday

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