Category Archives: Politics

All The Investments That Put Bayo Adelabu In Trouble (details of his encounter with the EFCC+political ambition in jeopardy)


One of the Deputy-Governors of the Central Bank of Nigeria, Chief Bayo Adelabu is at the moment fighting the biggest battle of his life.

Adelabu was invited and interrogated some days ago by the EFCC in Lagos for abuse of office and role in the alleged siphoning of shareholder funds via phoney loans.

Sources with knowledge of the development told us that investigators believe that Adelabu, who is presently serving as one of the Deputy Governors at the Central Bank of Nigeria (CBN), allegedly connived with Oba Otudeko to arbitrarily approve loans running into several billions of naira which have since gone bad.

The recklessness of the bank bosses prompted the CBN to introduce stiffer corporate governance rules to protect shareholder funds from being abused by insiders.

In Adelabu’s case, many other accidental deep pockets have probably learnt few had lessons on the dos and don’ts of executive banking, morality and citizenship. This are certainly the worst of times for him. Adelabu, who is believed to have amassed a huge war chest, is preparing a bid for the governorship of Oyo State in 2019.

In his bid to win the Governorship election in Oyo State come 2019, the banker has invested hugely in his hometown, Ibadan to drum the support of the people.

With reckless abandon unusual with people in public office Bayo Adelabu has solely financed and owned an ultramodern Shopping Centre on Rring road, Ibadan, a 34-flats serviced bedroom apartments at Oni and Sons street, Ibadan, the highbrow Bayseone Hotel in Jericho, Ibadan and his recent investment being the most expensive hotel in the city, Best Western Hotel tucked inside the Iyaganku GRA, iBADAN.

All these investments were said to have been traced and would likely be answered for as the anti=fraud commission has beamed its searchlight on the activities of the billionaire, a grandchild of late Ibadan popular politician, Chief Adegoke Adelabu.

The recent occurrence is said to have had a dent on his political career as his handlers in Oyo State are working hard to distract the people from the incident.

He was interrogated for hours on Monday at the Ikoyi, Lagos office of the EFCC and subsequently released on administrative bail. EFCC sources say he is expected to return to the agency for further questioning and may be charged to court for fraud and insider abuse when investigations are concluded.

Additional Information from The Capitalng.bayse-one-place-oyo-53384IMG_20150405_075110

Ex-Speaker, Dimeji Bankole Puts Properties On Sale

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For unknown reasons, former Speaker of the House of Representatives, Dimeji Bankole has placed ‘For Sale’ on some of his properties.

The politician who is believed to be warming up to succeed Governor Ibikunle Amosun as the Governor of Ogun State has placed his Abuja home located in the highbrow Asokoro and his hotel, Grand-Banks Link, Ota on sale.

Many hinged his decisions to ‘fling’ the properties on part of the move to sustain the bid to actualise his ambition.

An insider hinted ‘he needs money badly! You know he is tight-fisted, now he needs to prove himself and spend’.

The Hotel which many of the staffs thought will be given to a consultant to manage, witnessed properties valuers visiting the leisure centre since last week.

Checks however revealed unlike in the early days of this year, activities at his campaign offices across Ogun state has dwindled to halt, with some actually locked up.

Victims Of Democracy: 3 Workers Fired In Osun For Celebrating Adeleke’s Victory


The by-election in Osun State to fill the vacancy left by the demise of Senator Isiaka Adeleke has come and gone leaving in its trail the winners, the vanquished and some victims.

Part of the victims of the by-election are Kunle Makanjuola, Gbadebo Adepoju and Folakemi Alonge employees of the Osun State Broadcasting Company who were suspended indefinitely for jubilating after INEC confirmed that Demola Adeleke has won the election.

A source revealed to papermacheonline that the workers made noise, jumped and hugged each other after the result was announced and they were reported to their superiors who thought their conduct was unbecoming and had to suspend them indefinitely.

Some of the Directors and Managers of the State-owned broadcasting company are claimed to be loyal to the State Governor, Ogbeni Rauf Aregbesola and they allegedly took side with him in the by-election where his candidate, Mudasiru Hussein was defeated.

The development was said to have been discussed by colleagues of the suspended workers in hushed tone for fear of what could be if they were caught talking about it.

Insiders also hinted that the workers might face disciplinary committee where they were expected to defend themselves.

A PDP chieftain from Osun State who spoke with papermacheonline said the party is ready to take on the matter. The politician in a text message sent to papermache said ‘the affected persons were never issued any letter of query before their indefinite suspension! seems Pharaoh has resurrected’

Ceecon Boss, Chima Anyaso ‘Secretly’ Visit Obasanjo To Seek Help For Jailed Sister


Ceecon boss, Chima Anyaso has listened to voice of wisdom. The young oil baron recently sought superior help in the matter concerning his jailed sister, Adaoha Nnadi.

Ada is the Managing Director of Ontario Oil who was sentenced to 10 years imprisonment in January, 2017 for defrauding the Federal Government of N754million in oil subsidy transactions.

Since the sentenced was handed over, Chima was said to have been unhappy.

The young man who was a protege to former Abia Governor, Orji Uzor Kalu had said to have spent billions to seek judicial redress into his sister’s matter all to no avail.

Sources claimed Chima some days ago paid a secret meeting to Obasanjo’s hilltop mansion in Abeokuta.

The meeting was said to have been facilitated by an undisclosed friend of the young billionaire.

The meeting which lasted for about 45 minutes was said to have brought some hope to Chima as he was spotted laughing after the encounter.

An insider who spoke to papermacheonline disclosed that the meeting wasn’t really about Chima’s sister, the source said ‘the agenda was set to the tune of a support from ‘Baba’ for an undisclosed political ambition, it was after that he mentioned the case of his sister’

Chima would have achieved his aim to keep the meeting secret but his companion, actor Jim Iyke couldn’t hide his excitement of meeting Chief Obasanjo for the first time took a photograph which he posted on social media with the tag ‘meeting the kingmaker’

Doyin Okupe Dumps PDP (Fani Kayode Tweets ‘support’)


Doyin Okupe, a former Special Assistant to President Goodluck Jonathan on Political Affairs, has abandoned the Peoples Democratic Party.
In a Facebook post on Sunday, Mr. Okupe said the PDP had become so deep in crisis that the former ruling party could no longer be saved, notwithstanding the faction that emerges victorious in the ongoing battle for the party’s control between Ahmed Makarfi and Ali Sheriff.
Mr. Okupe served Mr. Jonathan as public affairs aide from 2012 until the former president was defeated in 2015.
The politician, from Ogun State, also said he would no longer participate in active politics for the foreseeable future unless he’s called upon by divine intervention.
Protracted crisis in the PDP has seen the party lose several of its political bigwigs since losing power after 16 years at the helm, including serving senators and members of the House of Representatives.
In a reaction to Doyin Okupe’s announcement, his friend and party member, Femi Fani-Kayode who was a former Minister of Aviation tweeted stating he called Doyin Okupe who informed him of his reasons of dumping the party. Fani Kayode revealed ‘…we may lose many more soon’ an indication that many interpreted to his move to also stage a walk away from the party he joined some years ago after leaving the APC.

Ikorodu Cult Killing: Lagos Police Seeks OPC’s Help


Top authorities in the Lagos Police Command have summoned an emergency stakeholders meeting with the leaders of Oodua People’s Congress (OPC) led by its National Leader, Otunba Gani Adams and other vigilante groups.

The meeting as our source revealed to us, is geared towards combating the incessant kidnapping and cultism attacks in Ikorodu axis of the state.

Pictures revealed that those present at the brainstorming session include OPC National Leader, Otunba Gani Adams, OPC New Era leader – Mr Rasak Arogundade; the Onyabo leader – Mr Kamorudeen Bombata, as well as other vigilante group leaders in the area.

For sometime now a dreaded cult group, ‘Baddo’ had trampled the peace of Ikorodu, wreaking havoc and killing people.

The cult cult group was alleged of attacking and wiping out a whole family yesterday in Ikorodu hereby leaving the police with no option than to find a means to track the assailant and bring peace to Ikorodu.

Former Taraba Governor, Dambaba Suntai Dies


Former Taraba state governor, Mr. Dambaba Suntai, who survived an air crash at the Yola Airport in 2012, is dead.

He died at home on Wednesday.

He is reported to have brain injuries arising from the plane accident

Mr. Emmanuel Bello, a former Commissioner for Information in the state, broke the news of the death.

The former governor, who flew the light plane, crashed in October 2012 and had not recovered fully since then.

He became governor of Taraba state in 2007 and was sworn again on May 29, 2011 for a second term.

A pharmacist by training, Suntai enrolled for training as a pilot at the Nigerian College of Aviation in Zaria in 2010 and was thus licensed.

Prior to his plane crash in 2012, Suntai had been flown to Germany for medication after returning from his annual leave in August 2009, following a sudden ailment that was suspected to have developed from food poisoning.

On his return from Germany, Suntai spoke at the opening of a three-day regional convention of the Full Gospel Businessmen’s Fellowship International in Jalingo, where said his meal was actually poisoned.

He had had several successful flights with his private aircraft even while piloting the affairs of Taraba State as governor.

But his current travails started precisely on October 25, 2012, when a private plane he piloted crashed in Yola, the Adamawa State capital.

After receiving the initial treatment at the Adamawa Standard German Hospital in Yola he was later transferred to the National Hospital Abuja on October 26, 2012. From there he was flown to Germany and was later taken to a rehabilitation centre in the United States for further medication.

After 10 months of medical sojourn overseas, Danbaba Danfulani Suntai finally returned to the country on August 23, 2013.

After weeks of political intrigues in the North-East state based on claims and counterclaims over his health status, it was revealed that the former Taraba State governor was not healthy enough to live in Nigeria without adequate treatment, or to govern a state.

He was subsequently flown abroad again for treatment, even as his then deputy, Garba Umar, was empowered by the Taraba State House of Assembly to fully take over the ship of the state in acting capacity.

He was brought back in the build-up to the 2015 elections and remained confined in Jalingo until after the change of guards on May 29, 2015.

Suntai was born June 30 1961 and attended the Ahmadu Bello University, Zaria where he studied pharmacy.