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Delta Line Shares Divested to Make it Profitable—Okowa
By Modupe Gbadeyanka
Delta State Governor, Mr Ifeanyi Okowa, has explained why his administration decided to divest shares of the state-owned transport company, Delta Line, to a private organisation.
In a statement issued in Asaba, the Executive Assistant to the Governor on Communications, Barrister Fred Latimore Oghenesivbe, emphasised that Delta Line was not outrightly sold to God is Good Motors as being peddled on social media.
According to him, government is making solid plans to divest part of its shares in the transport company to pave the way for joint ownership with the highest bidder, adding that the divestment of shares became necessary to make the company viable and better managed by tested and trusted stakeholders in the transportation sector.
“The state government is not comfortable with the poor financial status of Delta Line despite the huge investments in billions of Naira pumped into it in the past; a development so frightening due to inability of the company management to pay staff salaries and maintain its fleet let alone making profit for government.
“Similar transport companies in the state and elsewhere managed by private investors are doing very well, declaring huge profits year after year while Delta Line continue to degenerate; and all efforts put in place to make the company viable proved abortive hence government decided to divest part of its shares and partner with professional managers in the transport sector to manage Delta Line efficiently and profitably.
“The huge leakage of funds became unbearable which led to the sack of various key management staff of the transport company and strict checks and balances were introduced. These measures could not also solve the problems as rogue elements within the system quickly devised new unscrupulous methods of stealing money.
“The company was unable to save money to pay backlog of salaries and entitlements and therefore could not function effectively and efficiently without partial funding by government,” he said.
On the allegation that the Delta State Chapter of the Nigerian Labour Congress (NLC) offered N2 billion in its bid but government decided to sell its shares to God is Good Motors, Mr Oghenesivbe explained that there is no concrete evidence that NLC presented financial statements showing capacity to pay for the shares, adding that it is hazy as to NLC strict compliance with the bid.
On the unconfirmed rumour that some members of Delta State Chapter of the All Progressives Congress (APC) are planning to stage protest to force government to reverse its decision to stop the divestment process, Mr Oghenesivbe said the decision subsists and cannot be put on hold or jettisoned for any reason whatsoever, adding that the divestment is a well throughout strategy to revive Delta line, manage it efficiently, imbibe good corporate governance and make profits for government and other shareholders.
“APC Delta is completely out of the political radar in the state hence its leaders and docile handful of members want to busy themselves with a matter that was well deliberated upon and proper decisions taken for the interest of the state and Deltans.
“APC should concentrate on how to manage its three years old internal crisis rather than meddle with issues of good governance alien to the party’s (APC) mediocre leaders and their overzealous followers in Delta State.
“The co-shareholders saddled with the responsibility of managing Delta Line shall retain the work force after critical staff audit and competence evaluation exercise expected to weed out ghost workers and redundant human elements in the now unprofitable transport company.
“There is nothing to worry about because the name and corporate colours of Delta Line shall be retained, operational routes and scope of daily commercial and administrative activities sustained and modified except for strategic restructuring as may be effected by the new managers for the purposes of good corporate governance and viability,” the statement added.
By Adedapo Adesanya
The United Kingdom is facilitating a quick process to return $9.5 million in recovered stolen funds to Nigeria to help fund the completion of the ongoing Abuja-Kano Road.
According to a statement on Friday, His Majesty’s Attorney General for Jersey, Mr Mark Temple, signed a Memorandum of Understanding (MOU) in December 2025 to facilitate the return of the loot.
Recall that on November 29, 2023, the Attorney General applied to the Royal Court of Jersey under the Forfeiture of Assets (Civil Proceedings) (Jersey) Law 2018 in respect of tainted property held in a Jersey bank account. On January 12, 2024, the Royal Court granted a forfeiture order after determining that the funds were more likely than not the proceeds of a corrupt scheme in which third-party contractors diverted government monies for the benefit of senior Nigerian officials and their associates.
The MOU builds on two previous agreements between Jersey and Nigeria, under which more than $300 million has already been repatriated to support three major infrastructure projects: the Lagos-Ibadan Expressway; the Second Niger Bridge; and the Abuja-Kano Road. The first two projects are now complete.
Under the terms of the MOU, the forfeited funds will contribute to the final stages of the Abuja-Kano Road, a 375 km highway that will provide a vital link between Nigeria’s capital and its second-largest city.
Speaking on the development, Mr Temple, said: “This successful return demonstrates the strength of our civil forfeiture legislation as a powerful tool in the fight against corruption. I thank the Nigerian authorities for their cooperation and the Economic Crime and Confiscation Unit in my Department for their unwavering commitment to recover the proceeds of crime.”
Adding his input, the Attorney General of the Federation and Minister of Justice, Mr Lateef Fagbemi said, “The successful recovery and repatriation of the forfeited assets, underscores the effectiveness of Nigeria’s collaborative efforts with its international partners in ensuring that there is no safe haven for illicitly acquired wealth or assets moved to foreign jurisdictions.”
“I want to, on behalf of the Government of the Federal Republic of Nigeria, thank the Bailiwick of Jersey for the cooperation accorded Nigeria during the Recovery exercise. I want to further assure the Bailiwick of Jersey, that the repatriated assets will be judiciously utilized in line with the terms of the executed Memorandum of Understanding,” he added.
By Modupe Gbadeyanka
Motorists in Lagos State with faded and unreadable vehicle number plates have been given a three-month rebate window to replace them.
This followed the approval of the 90-day exercise by the Lagos State Governor, Mr Babajide Sanwo-Olu, according to the Permanent Secretary for Motor Vehicles Administration Agency (MVAA), Mr Rasheed Muri-Okunola.
The state government disclosed that the rebate applies specifically to vehicle owners whose number plates have become worn, faded, or unclear over time due to weather conditions and prolonged use.
It noted that the gesture is a proactive and citizen-friendly intervention aimed at encouraging compliance while reducing the financial burden on vehicle owners.
According to Mr Muri-Okunola, the Governor authorised the rebate as part of renewed efforts to enhance road safety, improve vehicle identification, and strengthen security across the state.
It was emphasised that the condition of vehicle number plates is critical to effective traffic management, crime detection, and overall public safety, noting that faded or illegible plates pose challenges to law enforcement agencies and traffic officials.
The government noted that that beyond aesthetics, legible number plates play a vital role in curbing traffic violations, aiding investigations, and supporting digital vehicle tracking systems deployed by the state.
Motorists were, therefore, encouraged to take advantage of the window by visiting the agency’s designated Pilot Centre at Oshodi (MVAA One Stop Centre, Oshodi) or any MVAA Stations across the state for the replacement process.
“Clear and properly maintained number plates are essential for vehicle identification and security. This three-month rebate is designed to give motorists ample opportunity to replace faded plates at a reduced cost while supporting our collective responsibility to keep Lagos roads safe and well-regulated,” Muri-Okunola stated.
“This is not just a regulatory exercise; it is a public safety measure. When number plates are clear and standardised, it improves efficiency across transportation, security, and emergency response systems,” he added.
Mr Muri-Okunola assured the public of seamless service delivery throughout the rebate period and advised motorists to avoid unauthorised agents, stressing that all replacements must be processed through designated government-approved centres.
He reiterated the Lagos State Government’s commitment to innovative policies that prioritise safety, convenience, and accountability while urging residents to cooperate with authorities in building a safer and more orderly transport environment.
By Modupe Gbadeyanka
The appointment of an Executive Director of CIG Motors, Mr Jubril Arogundade, has been terminated, a statement from the auto firm has revealed.
It was disclosed that Mr Arogundade was relieved of his duties over an alleged financial misappropriation and abuse of authority, with the matter referred to the Economic and Financial Crimes Commission (EFCC).
CIG Motors said it took the decision to fire Mr Arogundade following internal investigations that uncovered issues relating to financial misappropriation and abuse of authority.
The company said it first suspended the accused person for a comprehensive internal review and findings showed that his actions fell significantly below its governance, compliance, and ethical standards, making immediate termination necessary.
The organisation further disclosed that it is cooperating fully with the authorities, including the EFCC, as the matter progresses through the appropriate regulatory and legal channels.
CIG Motors emphasised that the action reflects a zero-tolerance stance on financial misconduct and abuse of authority, particularly at senior management level, noting that safeguarding institutional integrity and maintaining robust internal controls remain central to its operations.
The statement also clarified that CIG Motors will not engage in further public commentary on the matter, stressing that it is now before the relevant authorities. It added that operational continuity across the business remains unaffected.
The development aligns with a broader trend seen across Nigeria’s corporate and financial landscape in recent months, where several organisations have taken decisive action against senior executives following internal probes, regulatory breaches, or governance failures, a part of the statement said.
Analysts note that such actions signal growing pressure on corporate boards to strengthen oversight, enforce accountability, and demonstrate compliance with governance best practices.
CIG Motors reiterated its commitment to the highest standards of corporate governance, accountability, and transparency, assuring stakeholders that appropriate measures are in place to protect the company’s long-term stability and reputation.
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