10 BILLION NAIRA SCANDAL ROCKS NIPOST

Towards the end of 2023, a scandalous discovery of mis-management of public fund rocked the airwaves as the Senate uncovered the mis-appropriation of a 10 Billion naira restructuring fund released by the Ministry of Finance to Nigeria's flagship postal service, NIPOST to boost the services of the government agency and ordered a probe into the alleged infraction.

The Senate gave the order via its resolution of December 30, 2023, noting that there was transfer of federal government shares in two NIPOST subsidiaries, NIPOST Properties and Development Company and the NIPOST Transport and Logistics Services Limited to private individuals, a move the Senate declared as “irregular and illegal” and ordered their immediate winding-up, de-registration and recovery of the entire sum of money involved.

The Senate’s resolution reads:

“The sum of 10 Billion naira released by the Ministry of Finance for the proposed NIPOST restructuring and re-capitalisation be investigated and the funds fully recovered, if established to be injudiciously utilised, by the relevant committee of the Assembly charged with the responsibility of fiscal prudence.”

Findings from the Corporate Affairs Commission (CAC) confirmed that as of November 8, 2023, some top officials of BPE control significant shares in the subsidiaries and that after receiving a letter on the infraction, the individuals involved hurriedly re-assigned their shares in NIPOST Transport and Logistics to three government entities – NIPOST (80 per cent); BPE (10 per cent); and the Ministry of Finance Incorporated (10 per cent).

Earlier in 2021, the Federal Government unveiled plans to unbundle NIPOST into three viable subsidiary companies — a property company, a microfinance bank, as well as a transport and logistics company and in the first few weeks of 2023, NIPOST workers embarked on a protest over “irregularities” in the ongoing reform/ commercialisation of the agency.

Ismail Adebayo Adewusi

The last two Post-Masters General who served as the Chief Executive Officers of NIPOST, Dr. Ismail Adebayo Adewusi and Hon. Sunday Adepoju, are both from Ibarapa-East local government area of Oyo state and served between December, 2019 and October, 2023.

Sunday Adepoju

And in the same month of October, 2023, Tola Odeyemi, a former special adviser to Lagos state government was appointed Postmaster General of the Federation and Chief Executive Officer, Nigerian Postal Service (NIPOST), and has vowed to turn the Service into a world-class e-commerce and logistics hub.

VIDEO: STRANGE QUAKE LIKE SOUND REVERBERATE ACROSS IBADAN METROPOLIS

Concerned authorities within in Oyo state have been asked to investigate the mystery surrounding a strange loud banging sound that echoed across the length and breath of Ibadan few minutes ago. The loud sound which is occuring the second is a great source of concern to residents who have been left in shock at the extent of the banging sound. Investigations revealed that the same sound reverberated across Ibadan Monday night before a repeat this evening again. See video of collapsed ACE mall Bodija: VIDEO: DEJO OYELESE area was also affected

ALAO-AKALA'S CHIEF PRESS SCRETARY, A.B OJO IS DEAD

Barr. Abraham Bolaji Ojo the former Chief Press Secretary to late Otunba Adebayo Alao-Akala between 2003 - 2011 is dead. Popularly called AB, who was born over 60 years ago is from in Ogbomoso and he passed on few minutes ago at the Baptist hospital, Ogbomoso. A respected member of the fourth estate of the realm and retired civil servant from the OYO state ministry of Information, A.B Ojo was called to the Bar few years ago and was actively involved in legal practice before his sudden demise.

EXCLUSIVE: CRISIS ROCK ALAO-AKALA FAMILY OVER ESTATE

Adebayo Alao-Akala A scandalous crisis is currently rocking the family of Late former Governor of Oyo state, Otunba Adebayo Alao-Akala and barring unforeseen circumstances, this will open unhealthy cans of worm in a not too distant future. The situation which has pitched members of the immediate family against each other, is an aftermath of revelations emerging after the burial of the late Alao-Akala, when it was discovered that he died intestate, leaving no legal will behind. The major reason for this imbroglio is access to the vast estate of the late influential governor who is know for his huge taste for luxury and wealth. The unfolding ugly scenario, investigations revealed shows that the estate of the deceased has become a subject of contention between family members. In a letter sighted by our correspondent, dated 16th August, 2023, signed by Dipo Olasope SAN., and addressed to the duo of Kemi Alao-Akala and Olamide Akala, i

ZYNGA NEWS

Search This Blog