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Re: Update on Rivers State Power Assets

Re: Update on Rivers State Power Assets

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Our attention has been drawn to media reports indicating a bench warrant issued against Mr. Rotimi Amaechi, Mr. Tonye Cole and others, for their alleged failure to appear in court in respect of a criminal charge filed by the Rivers State Government (“RSG”) regarding misappropriation of funds during the tenure of former Governor Amaechi from 2007 to 2015.

Please see below links to some of such past publications regarding the said criminal charges:

$50m fraud: Rivers State begins prosecution of Amaechi, slam 9 count charge against him, Cole, others – The Street Journal.

 

https://sundiatapost.com/rivers-state-initiates-criminal-trial-of-amaechi-and-cole-over-alleged-theft-of-53-1m/

https://barristerng.com/rivers-govt-initiates-criminal-trial-of-amaechi-and-cole/

https://nigerianbulletin.com/threads/rivers-state-initiates-criminal-trial-of-amaechi-and-cole-over-alleged-theft-of-53-1m-the-nation.469454/

 

Again, we affirm for the record that the allegations leading to the said criminal charges and reports are utterly false and a rehash of previously syndicated stories which remain unsubstantiated.

We note from the reports that the allegations in the purported suit are similar to previous baseless and politically motivated assertions following the strained relationship between two previous governors of Rivers State (including the immediate past governor), which dates back to the time of the alleged sale of Rivers State asset.

We recall that the RSG was reported to have withdrawn a previous suit on the issue. Please see links below:

 

https://www.vanguardngr.com/2022/10/rivers-withdraws-criminal-charges-against-amaechi-apc-gov-candidate-cole/amp/?utm_medium=break.ma&utm_source=break.ma

https://leadership.ng/assets-sale-rivers-govt-withdraws-criminal-charges-against-amaechi-cole-2/

https://thenationonlineng.net/rivers-withdraws-criminal-charges-against-amaechi-cole-others/

 

Following the ruling of His Lordship Hon. Justice. Nwogu of the Rivers State High Court, Port Harcourt on 17th of May 2023, as well the arrest warrant issued by the same court, an appeal was instituted at the Court of Appeal, Port Harcourt, Rivers State.

The appeal came up on the 20th of June 2023 for ruling and a decision was given in favour of the appellants. In summary, the Court of Appeal set aside the ruling of the Rivers State High Court thereby quashing the arrest warrant earlier issued. The Court of Appeal also set aside the entire proceedings conducted on 17th May, 2023.

Please see the link to the publication affirming our position. https://www.channelstv.com/2023/06/20/appeal-court-sets-aside-warrant-of-arrest-against-amaechi-others/

The link to the judgement can be accessed here.

 

The above reinforces our position and previous clarifications that the allegations leading to the aforestated criminal charge are patently false and an apparent political spectacle that should be disregarded.

Please see links below for previous statements made by Sahara on the issue.

https://www.sahara-group.com/2022/05/28/sahara-group-clarifies-misleading-media-reports-on-rivers-state-power-assets/

https://www.sahara-group.com/2022/06/20/update-on-misleading-media-reports-on-rivers-state-power-assets/

https://www.sahara-group.com/2022/10/17/rivers-state-power-assets/

Sahara Group reiterates its commitment to integrity, corporate governance, and transparency in our operations. These values continue to drive the success of the Sahara Brand for over 25 years in keeping with global best practices and bringing energy to life responsibly.

Sahara Group’s operations and processes are driven by business integrity and good governance as advocated by the World Economic Forum.

We remain committed to transparency, a critical value proposition that propels the success of the Sahara Brand as we continue to bring energy to life responsibly.

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