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TINUBU APPOINTS RETIRED CHIEF OF NAVAL STAFF IBAS AS RIVERS STATE ADMINISTRATOR AMID CORRUPTION ALLEGATIONS

President Bola Ahmed Tinubu has appointed Vice Admiral Ibokette Ibas, a retired Chief of Naval Staff, as the administrator of Rivers State, following the declaration of a state of emergency in the state. However, Ibas’s appointment has raised eyebrows due to allegations of corruption and victimization made against him by a former naval officer, Captain Emmanuel Ekpe. In an open letter to former President Muhammadu Buhari in 2022, Ekpe accused Ibas of corruption and victimization, stating that he was repeatedly denied promotion and eventually forced into retirement after exposing corrupt practices in the Navy. “Using myself as a case study. I was repeatedly victimised by the former Chief of the Naval Staff, Vice Admiral Ibok Ette Ekwe Ibas, for more than 20 years,” Ekpe wrote. Ekpe’s allegations against Ibas date back to 1996 when he reported a case of fraud against Ibas, who was then the Executive Officer of NNS AMBE. Ekpe claimed that Ibas retaliated against him, denying him promotion and eventually placing him on the National Security Watchlist. “The former CNS was adamant on punishing me for exposing his corrupt behaviour. And so despite the fact that I had repeatedly met all the criteria for promotion, I along with so many others were denied promotion on frivolous grounds,” Ekpe stated. Ibas’s appointment as Rivers State administrator has raised concerns about the president’s commitment to zero tolerance for corruption. Ekpe’s letter to Buhari was never addressed, and it remains to be seen how Tinubu’s administration will respond to these allegations.

ABIA BUSINESSMAN TAKES FIRST BANK TO COURT OVER ALLEGED N55M FIXED DEPOSIT FRAUD

An Abia businessman, Eke Agbai Eke, has filed a lawsuit against First Bank of Nigeria over an alleged fraudulent withdrawal of N55 million from his fixed deposit account. According to the claimant, the bank has refused to return his deposit, which he originally placed at the Abiriba branch to support the bank’s presence in his community. Eke stated that he discovered the alleged fraud in December 2023 when he was unable to access his personal account through the bank’s mobile app. Upon visiting the Gwarinpa branch in Abuja, he was informed that N55 million had been withdrawn from his fixed deposit in six consecutive transactions, despite him being in Umuahia at the time. Following this discovery, Eke demanded the liquidation of his fixed deposit, but the bank failed to take action. After multiple complaints, First Bank launched an internal investigation, resulting in the dismissal of several senior officials allegedly linked to the fraud. The plaintiff’s lawyers have publicly addressed the matter, while First Bank’s legal counsel declined to comment. The case has exposed deep-seated corruption within the bank, raising concerns about the integrity of its staff and internal financial practices. As the legal battle unfolds, this incident is shedding light on what appears to be a pattern of fraudulent activities within the institution, calling for urgent scrutiny and accountability.

FORMER MINISTER OF WOMEN AFFAIRS, UJU KENNEDY-OHANENYE, IN EFCC CUSTODY OVER ALLEGED N138 MILLION FRAUD

Former Minister of Women Affairs, Uju Kennedy-Ohanenye, is currently being held by the Economic and Financial Crimes Commission (EFCC) over alleged involvement in a N138 million fraud. According to a top source within the commission, Kennedy-Ohanenye arrived at the EFCC headquarters around 11 a.m. on Thursday and was still being interrogated by operatives as of the time of filing this report. The source revealed that investigators are questioning the former minister over her alleged role in the misappropriation, violation of procurement processes, and diversion of public funds totaling N138,413,253.89. “She arrived at the commission’s headquarters around 11 a.m. on Thursday and is currently facing interrogators over her alleged involvement in the fraud,” the source said. According to the EFCC, investigations revealed that funds donated for the P-Bat Cares for Women Initiative were diverted for Kennedy-Ohanenye’s personal enrichment. The alleged fraud is said to have occurred during the disbursement of the 2023 budgeted allocation for the ministry.

FORMER AKWA IBOM GOVERNOR UDOM EMMANUEL ARRESTED OVER ALLEGED N700 BILLION FRAUD

Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested former Akwa Ibom State Governor Udom Emmanuel over allegations of a N700 billion fraud. The arrest occurred on Tuesday at the EFCC headquarters in Abuja, following an invitation to the former governor. Emmanuel, who served from 2015 to 2023, faces accusations of money laundering, fund diversion, and financial mismanagement during his tenure. A petition by the civil society organization, Network Against Corruption and Trafficking (NACAT), alleged that Emmanuel received over N3 trillion from the Federation Account but left behind a debt of N500 billion and N300 billion in unpaid ongoing projects. He is also said to be unable to account for N700 billion. Investigations reportedly revealed N31 billion withdrawn in cash from an account titled ‘Office of the Governor’ between 2019 and 2023. A source stated, “We have arrested the former governor of Akwa Ibom over an alleged N700 billion fraud. NACAT’s petition prompted our investigation. The petitioner alleged that Emmanuel received N3 trillion but left behind a debt of N500 billion and unpaid projects worth N300 billion. He is also unable to account for N700 billion.” The EFCC has not yet issued an official statement regarding the arrest, and the agency’s Head of Media and Publicity, Dele Oyewale, did not respond to inquiries by press time. In January 2025, NACAT had called for investigations into Emmanuel’s administration. The former governor’s aides dismissed the allegations as baseless, with his media assistant, Steven Abia, stating that Emmanuel remained unperturbed by the corruption claims.

COURT ORDERS FINAL FORFEITURE OF $4.7M, N830M, AND PROPERTIES LINKED TO EMEFIELE

A Federal High Court in Lagos has ordered the final forfeiture of $4.7 million, N830 million, and multiple properties linked to Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN). Justice Yellim Bogoro granted the final forfeiture application of the Economic and Financial Crimes Commission (EFCC), represented by counsel Bilkisu Buhari-Bala. The funds, now forfeited to the federal government, were held in First Bank, Titan Bank, and Zenith Bank accounts managed by individuals and entities including Omoile Anita Joy, Deep Blue Energy Service Limited, Exactquote Bureau De Change Ltd, Lipam Investment Services Limited, Tatler Services Limited, Rosajul Global Resources Ltd, and TIL Communication Nigeria Ltd. Properties affected by the forfeiture include 94 units of an 11-floor building under construction at 2 Otunba Elegushi 2nd Avenue, Ikoyi, Lagos, and AM Plaza, an 11-floor office space on Otunba Adedoyin Crescent, Lekki Peninsula Scheme 1, Lagos. Other properties include Imore Industrial Park 1, Mitrewood and Tatler Warehouse, and two properties purchased from Chevron Nigeria, located in Lakes Estate, Lekki, Lagos. Justice Bogoro held that all these properties and funds are proceeds of unlawful activities which are bound to be forfeited to the Federal Government of Nigeria. “I find that the activities of the respondents here were unlawful. Why should they have a problem of dollars immediately Godwin Emefiele left CBN as a governor of the Bank and salary could not be paid?” Justice Bogoro stated. “I hold that they are not legitimate business activities. I hold that Anita Omoile is a close crony of the former CBN governor Godwin Emefiele who has been given undue influence to unlawfully sway dollars from CBN.” The EFCC had cited Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and Section 44(2)(b) of the Nigerian Constitution in its application, seeking an interim forfeiture on the grounds that the funds and properties were suspected to be proceeds of unlawful activities. Following the failure of the defendants or anyone else to prove that the funds legitimately belonged to them, the judge then made the interim order permanent.

NIGERIAN PASTOR ARRESTED FOR MULTIMILLION-DOLLAR INTERNET FRAUD

The FBI has arrested Nigerian Pastor Edward Abiodun Oluwasanmi for conspiring to defraud the U.S. government of $4.2 million COVID-19 relief funds. Oluwasanmi, a U.S.-based pastor, allegedly worked with Osun monarch, Oba Joseph Oloyede, to submit forged documents and obtain millions of dollars in COVID-19 loans meant for struggling businesses. The pastor used his three companies, Dayspring Property Incorporated, Dayspring Holdings, and Dayspring Transportation, to divert the funds for his personal expenses, breaching U.S. federal laws. He was indicted on a 13-count charge of fraud and arrested in Cleveland in April. Oluwasanmi was released on a $20,000 bail with the condition that he appears in court for trial and serves his sentence if convicted. The FBI’s investigation revealed that the pastor made several suspicious transactions, including a wire transfer of $221,880 in September 2020 to purchase a commercial property in Ohio. On October 26, 2021, he wired $1 million in COVID-19 funds to his company’s brokerage account.

N96BN LG FRAUD: NAZI OBASEKI AND FELLOW TREASURY LOOTERS HAVE MURDERED SLEEP IN EDO STATE

By Fred Itua Governance at the grassroots level is the most fundamental pillar of democracy. When local government councils, which are closest to the people, fail in their responsibilities, the impact is felt directly by citizens through stalled development, poor infrastructure, and diminished public trust. This is why the recent report of the Investigative Panel on Local Government Finances in Edo State is not just another document; it is a call to action. The decision to set up the Investigative Panel was not arbitrary; it was necessitated by growing concerns over financial mismanagement across the 18 Local Government Councils. The alarming lack of visible developmental projects, despite substantial allocations, raised critical questions that demanded answers. It was in response to these concerns that the government, committed to transparency and accountability, constituted the panel to conduct a thorough investigation into the financial activities of the councils. With a mandate to examine revenue inflows, expenditure patterns, and the overall financial integrity of the councils, the panel embarked on a meticulous process, employing forensic analysis, document reviews, and interviews with key stakeholders. Although some challenges were encountered, including late and incomplete financial records, the panel was still able to piece together a revealing and deeply troubling picture. The panel’s findings are damning. Over ₦95 billion accrued to the councils between September 4, 2023, and the present, yet very few meaningful projects were executed. Instead, the panel uncovered widespread financial recklessness, including: The revelations in this report are not just numbers on paper—they represent stolen opportunities for development, broken trust in leadership, and a blatant disregard for the welfare of the people. To allow these findings to be swept under the carpet would be a gross injustice to the citizens who depend on local governments for basic amenities and services. Governor Monday Okpebholo-led administration will take decisive action. This investigative report will not gather dust in government archives. It will serve as a turning point for local governance in Edo State. The government has taken a bold step by uncovering these irregularities, but it will further show its commitment to accountability in its resolve to act on these findings. Implementing the recommendations to the letter is not just an administrative necessity by the Okpebholo administration —it is a moral obligation to the people, and Governor Okpebholo is ready to act fast. The grassroots deserve better. The people deserve accountability. For Godwin Obaseki, PDP public funds looters and impeached local government chairmen, their sun will set at noon. Fred Itua is the Chief Press Secretary to Edo State Governor.

EDO STATE GOVERNOR RECEIVES REPORT ON N96BN LOCAL GOVERNMENT FRAUD, VOWS TO PROSECUTE INDICTED OFFICIALS

Edo State Governor, Senator Monday Okpebholo, has revealed that the Economic and Financial Crimes Commission (EFCC) will prosecute some of the recently impeached Edo State Local Government chairmen indicted for looting the Local Government treasuries, running into over N95 billion. The Governor received the report of the Administrative Panel of Enquiry set up to investigate the financial dealings of the impeached 18 Local Government Chairmen in Edo State from the Chief Press Secretary to the Governor, Fred Itua, stated that the report indicted former Governor Godwin Obaseki, leaders of the factional Peoples Democratic Party (PDP), and others. Governor Okpebholo expressed satisfaction with the committee for the professionalism with which it carried out its duty, saying, “Nigerians need to start demanding accountability from elected public office holders.” He stressed that “it was the only way to fight corruption and ensure development.” The Governor vowed to petition the EFCC on the findings of the report for immediate prosecution, saying, “I want to thank you for a job well done. I carefully listened to the submission of the report. The truth is that the administration of former Governor Godwin Obaseki took Edo people for granted. They took everything belonging to Edo people and channeled it for their personal gains.” Fred Itua stated that the panel’s investigation uncovered significant irregularities in the financial activities of the 18 Local Governments Councils. The report indicted former ALGON chairman, Oghomwen Newman Ugiagbe, who used his hotel, Demarriots Hotels Limited, Ahonsi Ogiegbaen Osifo, Eric Agbonmwanre, Abraham Burma, and Dickson Imasogie Notiemwenmwan to loot Local Government funds. The panel reported that N95 billion (N95,080,676,687.86) was received from the Joint Allocation Account Committee (JAAC) by the 18 Local Government Area Chairmen for the period investigated. However, the funds were not judiciously utilized, as no meaningful projects were on the ground to justify the amount received. Fred Itua stated that the Governor would personally take the document to the EFCC to ensure that justice is done for the wrong done to Edo people.

NIGER DELTA YOUTH COUNCIL PROTESTS CEO’S DETENTION IN $87 MILLION FRAUD CASE

The Niger Delta Youth Council (NDYC) has voiced its strong objection to the continued detention of Jesam Michael, CEO of Afriq Arbitrage System (AAS), a cryptocurrency investment firm, who reported a $87 million fraud to the police. Prince Michael Newgent Ekamon, President of the NDYC, expressed his frustration, stating, “My bitterness and my pains, and the people of the Niger Delta youth council, and Niger Delta, and my people, is that in this country, a complainant is arrested and has been detained for over three weeks. It is unlawful.” Michael had initially reported to the Inspector-General of Police (IGP) Special Investigation Unit (SIU) that his staff member, Abayomi Segun Olusesan, had hacked into the company’s system and misappropriated $87 million in investor funds. While Oluwasesan admitted to the hacking, he disputed the amount involved. A forfeiture agreement between the parties resulted in the recovery of some assets from Oluwasesan.However, the police investigation took a different turn when it was revealed that investors had been unable to access their funds or promised returns from AAS for over 18 months. This prompted a preliminary investigation into the company’s operations.Police Public Relations Officer Adejobi Olumuyiwa explained that Michael was detained because he failed to provide verifiable medical records, evidence of legitimate trading practices, and a viable repayment plan for the affected investors. The police also refuted Michael’s claims of harassment, asserting that the actual victims are the investors who entrusted their money to AAS. Despite Oluwasesan’s admission to the hacking, the NDYC questions why he is not in custody while Michael remains detained. Ekamon further alleged that Oluwasesan is “walking free and even parading armed police escort despite the evidence of his crimes as displayed by his lavish lifestyle,” raising concerns about potential bias in the investigation. “The group call on the IGP to look into the matter seriously. Ekamon claimed that the police seems to be having a bias in the matter.” Ekamon also stated that Michael’s health is deteriorating and that he was on his way abroad for medical treatment when he was arrested at Murtala Mohammed Airport. The NDYC is demanding that Michael be either granted bail or charged to court, as required by law, instead of being held in detention, which they claim is jeopardizing his health. “He affirmed that the Youths and the people of Niger Delta worldwide will not sit and fold their hands on this injustice.” The police investigation is ongoing, and they are encouraging affected investors to submit their investment records and documentation.

KADUNA STATE HOUSE OF ASSEMBLY COMMITTEE ACCUSES EL-RUFAI OF CORRUPTION, RECOMMENDS PROBE

The Kaduna State House of Assembly Committee has concluded its investigation into the alleged misappropriation of N423 billion and misconduct by the immediate past governor of the state, Malam Nasir El-Rufai. The committee found evidence of several cases of corruption in the running of the state’s government, ministries, departments, and agencies between May 29, 2015, and May 29, 2023. The committee made 24 recommendations, including referring the former finance commissioners, accountant generals, and internal revenue chairmen to law enforcement agencies for thorough investigation. The current commissioner of finance, chairman of the State Universal Basic Education Board, and executive secretary of the State Pension Bureau were also asked to step aside to allow for proper investigation. The committee accused El-Rufai’s administration of plunging the state into unwanted and unjustified debts, reckless award of contracts without due process, and humongous cash withdrawals without records of utilization. The committee also alleged that El-Rufai was complicit in diverting funds and laundering money. The committee recommended that the contractors listed, including Ronchess Global Resources PLC, Chamberlayne Global Concept Ltd, and M/S Prestige Integrated Services Ltd, should refund a total sum of N36,351,126,811.65 to the Kaduna State Government. The committee’s report stated that “the Governor of Kaduna State between 29th May, 2015 to 29th May, 2023 as the Chief Executive Officer of the State breached his Oath of Office contained in the 7th Schedule to the Constitution of the Federal Republic of Nigeria (As amended) and failed to exercise due discretion in the administration of the State.”

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