Metro
Opinion: OMS: The Missing Links in Hosa Okunbo’s Tale
By Anthony Badmus
Ordinarily, the attempt by Captain Hosa Okunbo to obfuscate the real issues and confuse the public through a massive manipulative media onslaught should be dismissed as a desperate and futile effort to clean his Augean stable. However, the inept and unskillful manner of his media campaign has only revealed to the discerning mind the missing links and his deliberate attempt to sidestep, if not totally avoid, addressing the substance of the issues in contention.
The issues in contention are crystal clear and unambiguous. The deliberate and orchestrated campaign to demonise Tunde Ayeni, a major investor and co-founder of Ocean Marine Services Ltd has failed to achieve its intended purpose but has rather resulted in leaving people wondering why the substance of the critical issues recently brought to fore in the public domain have been intentionally left unattended to.
Captain Okunbo wants Nigerians to believe that Tunde Ayeni has irrationally relinquished his shares in Ocean Marine Services to him. His claims are premised on an illogical notion that a highly discerning and successful entrepreneur such as Tunde Ayeni sold the totality of his over 30% equity stake in OMS, a multi-million dollar going concern valued well in excess of US$100 million, for a paltry sum of N2 billion (US$4.5 million) and a little change. He wants the corporate Nigeria to buy into the false narrative that a business strategy aimed at ensuring that huge debts owed the company was recouped was actually a forfeiture of investment decision, thereby resulting in a situation where he, Okunbo, has become the absolute Lord of the OMS Manor, whilst the man whose idea and contacts gave birth to the investment can take a dive.
However, it is common knowledge that deception has its limits and treachery has its expiry date. Discerning corporate players are not taken in by Okunbo’s wasteful media antics and the attempts to give a bad name to the one on whose back he rode to wealth and stardom. Assuming, without conceding, that his erstwhile Partner’s investments are now his in return for the proverbial bowl of pottage, a la Essau, does that, in any way, extinguish the critical corporate issues bordering on the illicit diversion of OMS’s corporate revenues that Okunbo has been called out to address?
Many still wonder what type of media battle is this that fails to address the salient issues that could clear his name once and for all, provoking the question: “Why is Okunbo dodging confronting the real issues?”
The critical issues here are gross mismanagement, stealing and criminal diversion of company funds. This matter is fundamentally about the abuse of business ethics and corporate governance for selfish ends.
Why is Okunbo maintaining a deafening silence on the allegation of the unauthorised withdrawal of $10 million allegedly spent on settling a Senate Hearing on one of the Subsidiary Companies, Secured Anchorage Area, SAA? When did the Board sit to approve such bizarre expenditure and on what basis?
Why is the recently deposed King Maker of Edo State Politics not in town to address the issue of the alleged illegal withdrawal of $8 million allegedly and supposedly spent on the Presidency, whatever that means. That withdrawal, which is what EFCC is currently investigating, was claimed to be funds withdrawn to take care of the dispute between the company and Ministry of Transportation and the Nigeria Ports Authority, NPA.
Why is this self-acclaimed Lord of the OMS Manor with intimidating resources to buy all available media spaces and pages not addressing the gross allegation of diverting $5.5 million, being the proceeds of the sale of the company’s Challenger Aircraft, to his personal farm in Benin?
And this is not all. The EFCC is also beaming its searchlight on the company’s $5 million, which Okunbo allegedly singlehandedly withdrew and claimed to have invested in an oil block owned by Star Oil as a 5 per cent stakeholder.
Another key issue that will engage the attention of the anti graft agency is the $1 million which the Captain allegedly claimed to have borrowed from the company but which he has refused to pay back.
The alleged infractions are legion. How does one justify a claim by a company Chair that he expended $30 million on a film on Oil Spill in the Niger Delta Region and expect investors and, even the long suffering Niger Delta people to be excited?
But the mother of all infractions appears to be Okunbo’s recent political misadventure in Edo State where he threw in an intimidating war chest which unfortunately yielded a colossal failure. An unspecified amount of money estimated at about $18 million allegedly withdrawn from the company’s account, was said to have been expended on that costly political misstep.
The EFCC definitely has its job clearly cut out for it in respect of the many infractions at OMS.
Okunbo will be explaining to the anti graft agency why he singlehandedly moved the company’s account from Polaris Bank to StanbicIBTC and thereby abandoning the loan repayment commitment by the company to the consortium of banks that funded the acquisition of Ibadan and Yola Electricity Distribution Companies. The loan currently is about $100 million.
As damning and mind boggling as these issues are, corporate watchers find it strange that at OMS’ so-called Board meeting of December 17 2020, the Board could only have a one line response to the issues raised as follows: “…that its accounts are in good and correct order and its funds are intact and not missing, misappropriated or otherwise mismanaged.” Of course, the so-called Board members are his minions and those with insignificant stakes in the company.
That the ‘Board’ could take such major issues bordering on corporate governance and accountabily with such levity and treat Nigerians with such disdain speaks to the mindset of this Lord of the Manor who must have convinced himself that he could get away with any infractions since, in his worldview, everything and everyone has got a price.
But the day of reckoning draws closer and it is just a little more time before Nigerians will find out that some gods truly have feet of clay.
In a move to enhance the mental resilience and professional effectiveness of personnel of the Federal Road Safety Corps (FRSC), the Indian Ministry of Home Affairs, through Rashtriya Raksha University, the pioneering National Security and Police University in India, has concluded discussions to commence strategic partnership that will lead to result oriented capacity building for Officers and Men of the Corps.
Through the first-of-its-kind collaboration, according to a statement made available to the National Association of Online Security News Publishers (NAOSNP), 1000 FRSC personnel will undergo intensive training in stress management and emotional wellbeing in August, 2025. An initiative that underscores Corps Marshal Shehu Mohammed’s determination to safeguarding not only the lives of road users, but also the health and wellbeing of the Management and Staff of the Corps.
The capacity development program aims to increase awareness of occupational stress/personal stress and its impact on physical and mental health of FRSC personnel; equip staff with practical tools for stress management, promote psychological resilience, emotional regulation, as well as foster peer support and a culture of mental health awareness.
Speaking on the partnership, the Corps Marshal stated thus:
“Our personnel operate under immense pressure every day to keep Nigerian roads safe. By investing in their mental and emotional health, we are strengthening our capacity to serve the nation with professionalism, empathy, and excellence.”
“The training program will leverage the world-renowned expertise of Indian professionals in stress reduction, mindfulness, and emotional intelligence, combining modern scientific approaches with time-tested wellness practices. Participants will gain practical tools to manage stress, improve decision-making in critical situations, and promote a culture of mental health awareness within the Corps,” he added.
The programme facilitators will comprise mental health professionals including clinical psychologist,
research officers and administrative officer from the University.
It is expected that at the end of the training, both Management and Staff will exhibit an increased self-awareness of personal stress triggers, improved skills in emotion regulation and peer support, Strengthened sense of community and psychological safety
and improved capabilities to address crisis situation efficiently.
This landmark collaboration reflects the shared vision of Nigeria and India to build resilient institutions that prioritize the wellbeing of public service officers, ensuring safer roads and healthier communities across Africa’s most populous nation.
The training is set to commence later this year and will run in phases, in 4 specific locations including the FRSC Academy Udi, Enugu State, FRSC Marshal Inspectorate Training School, Owo-Alero with both physical and virtual learning sessions to maximize participation and impact.
Recall that the partnership between the University and FRSC commenced sometimes in March with the training of some of the Corps personnel in Gujarat State of India.
As continuation of that partnership, 10 personnel are already finalizing arrangements for Masters Programme sometimes in August this year to study different courses among which include; information technology, cyber security, data management and traffic enforcement.
The Nigerian Electricity Regulatory Commission (NERC) has commenced the process of transferring the regulatory oversight of electricity market in Abia State to the Abia State Electricity Regulatory Agency (ASERA) via Order – NERC/2025/058 in line with Electricity Act 2023, as amended, with effect from June 25, 2025.
The NERC said that Abia State has fully complied to the provisions of section 230 (2) of the Electricity Act 2023 and had dully notified the Commission and requested the transfer of the regulatory oversight of the State electricity market to Abia State.
By this transfer order, the successor DisCo in the State, Enugu Electricity Distribution Company (EEDC) is expected to incorporate a subsidiary to assume the responsibilities of Intra State Supply and distribution of Electricity in Abia State.
Confirming the development, the Commissioner for Power and Public Utilities, Ikechukwu Monday, said the transfer of regulatory oversight of intrastate electricity markets from NERC to ASERA is in line with the promise of Governor Alex Otti to provide reliable electricity access to unserved and underserved industries and communities in Abia State.
He further stated that it will bring several benefits to the people of Abia state such as localised State-tailored tariff structures, which will set end-user tariffs that reflect local economic conditions, encouraging fairer pricing and better cost recovery.
Also, the commissioner said that ASERA can rapidly adjust rules and incentives to suit local goals such as supporting mini-grids or renewable energy projects.
He further said that Abia State Electricity Regulatory Agency located in Umuahia will be able to provide a faster local and closer oversight which reduces delays in licensing, complaints handling, and issue resolutions to bolster local service quality among other functions.
According to him, the deadline for the transfer of the regulatory obligations is December 24, 2025.
Following a video in circulation condemning the Police community over neglect regarding welfare and retirement benefits of retired police officers by a retired retired Superintendent of Police, the Inspector-General of Police, IGP Kayode Adeolu Egbetokun, has ordered a thorough investigation into the allegations.
The IGP, according to a statement by the Force Public Relations Officer, ACP Muyiwa Adejobi, has tasked the NPF Pensions Limited to urgently examine the claims, identify any possible lapses, and ensure that appropriate action is taken to address the concerns raised.
The Nigeria Police Force is not insensitive to the plight of its pensioners, many of whom dedicated their lives to the service and safety of our nation. The IGP views the welfare of both serving and retired officers as a priority and recognizes that timely and adequate pension administration is crucial to sustaining morale and institutional integrity. While efforts have consistently been made to improve the pension system, the IGP acknowledges the importance of constructive feedback in prompting necessary reforms.
The IGP therefore reassures all officers, both serving and retired, and their families of the Force’s commitment to improved welfare, and to building a system that honours their sacrifices. He urges stakeholders to remain calm and patient as the NPF Pensions carries out its investigations and engages relevant agencies to ensure lasting solutions.
