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Court Orders Forfeiture of $1.4m Linked To Emefiele

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Emefiele for terrorism financing

By Adedapo Adesanya

A Federal High Court sitting in Lagos has again ordered the interim forfeiture of the sum of $1.4 million linked to the embattled, former governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele.

Justice Ayokunle Faji ordered the forfeiture of the money to the Federal Government of Nigeria and adjourned the matter to June 25 for a hearing of the final forfeiture of the money.

The judge ordered the Economic and Financial Crimes Commission (EFCC) to publish the interim forfeiture order in a national newspaper for anyone interested in the money sought to be forfeited to appear before the court and show cause within 14 days why the final order of forfeiture of the said sum should not be made.

The court made the above orders while granting an ex parte application moved by the counsel to the EFCC, Mrs Bilikisu Buhari-Bala.

The money forfeited in the interim is said to be in Donatone Limited’s account and domiciled in Titan Bank Limited.

At Wednesday’s proceedings, Mrs Buhari-Bala told the court that the orders sought are pursuant to Section 17 of the Advance Fee Fraud and Other Fraud-related Offences Act No. 14, 2006, and Section 44 (2)(B) of the 1999 Constitution of the Federal Republic of Nigeria.

She also said that the court had the statutory powers under the provisions of section 17 of the Advance Fee Fraud and Other Related Offences Act, 2006 to grant the reliefs being sought.

“That the funds sought to be forfeited are reasonably suspected to be proceeds of unlawful activities,” she said.

Mrs Buhari-Bala also told the court that the motion Exparte is supported by an affidavit deposed to by one David Jayeoba, an investigator with the EFCC.

In the affidavit, the deponent stated that his commission received credible and directed intelligence which led to the tracing of funds reasonably suspected to be proceeds of unlawful activities warehoused in the Donatone Limited (DL) Titan Trust Bank account, which funds are reasonably suspected to be part of proceeds of unlawful activities.

The deponent stated that the EFCC whilst investigating the alleged monumental fraud carried out by Mr Emefiele and his cronies, discovered a huge amount of money warehoused and concealed in the account of Donatone Limited, domiciled in Titan Trust Bank.

He stated that investigation revealed that some of the brains behind the fraudulent concealment of funds reasonably suspected to have been proceeds of unlawful activities of Emefiele are the natural persons behind Donatone Limited, Uzeobo Anthony and Adebanjo Olurotimi, who are directors at Donatone Limited.

The deponent further stated the following “Between 2021 and 2022, when accessibility to Forex in Nigeria was difficult, several international entities operating in Nigeria had to resort to different means to source Forex.

“That Uzeobo Anthony and Adebanjo Olurotimi used the firm, to collect bribes and gratification on behalf of Godwin Emefiele, to get approval for accessing Forex. And that one of the entities (NP) paid a total sum of $26,552 million, into the account of a firm domiciled in Titan Trust account number 2000000500.

“That the said credits came into the account of the firm on November 9, 2021: $6,450,000; November 5, 2021: $6,050,000.00; December 16, 2021: $5,400,000.00; December 23, 2021: $652,000; January 31 2022; $3,000,000.00 and September 21, 2022: $5,000,000.00.

“The investigation traced the funds to having been fixed into interest-yielding accounts, dissipated and laundered through a foreign account in Mauritius, and transported back to Nigeria under disguise.

“That of the total sum of $26, 555, 000.00 US Dollars received by the firm, the balance standing in the said account as at today is the sum of $1, 426, 175.14 million.

“That it is the balance in the account that the applicant seeks to forfeit to the Federal Government of Nigeria, which has been traced to be the proceeds of unlawful activities of (GE) and his cronies. That investigation further revealed that the international entities sourcing for forex were pressured into parting with huge funds to access forex during the period.

“That the signatories to the account warehousing the sum of $1, 426, 175.14 million USD, sought to be forfeited are at large and are making frantic efforts to dissipate the funds electronically. And based on our investigation findings, the funds sought to be forfeited are proceeds of unlawful activities of (GE) and his cronies. And that it is in the interest of justice to grant this application.”

It would be recalled that Justice Yelim Bogoro had on May 25, 2024, ordered an interim forfeiture of $4.7m, N830m, and some property assets linked to Emefiele

The monies forfeited to the federal government in the interim were said to be warehoused in First Bank; Titan Bank and Zenith Bank, being operated by 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.

While the properties forfeited in the interim are: His properties forfeited to the Federal Government include 94 Units of an 11-floor building under Construction at 2, Otunba Elegushi 2nd Avenue (Formerly Club) Road, Ikoyi, Lagos; AM Plaza, 11-floor office space, situate on 1E, Otunba Adedoyin Crescent, and Lekki Peninsula Scheme 1, Lagos.

Others are Imore Industrial Park 1, Esa Street, Imoore Land purchased with (Deep Bive Industrial Town, Oriade LCDA, Amuwo Odofin LGA, Lagos, Mitrewood and Tatler Warehouse (Furniture Plant at Bogije) near Elemoro Lagos, Owolomi Village, Ibeju-Lekki LGA, Lagos and two properties purchased from Chevron Nigeria, Closed PFA Fund, Block B. Lot twin completed property in Lakes Estate, Lekki, Lagos.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Bill Seeking Creation of Unified Emergency Number Passes Second Reading

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Unified Emergency Number

By Adedapo Adesanya

Nigeria’s crisis-response bill seeking to establish a single, toll-free, three-digit emergency number for nationwide use passed for second reading in the Senate this week.

Sponsored by Mr Abdulaziz Musa Yar’adua, the proposed legislation aims to replace the country’s chaotic patchwork of emergency lines with a unified code—112—that citizens can dial for police, fire, medical, rescue and other life-threatening situations.

Lawmakers said the reform is urgently needed to address delays, miscommunication and avoidable deaths linked to Nigeria’s fragmented response system amid rising insecurity.

Leading debate, Mr Yar’adua said Nigeria has outgrown the “operational disorder” caused by multiple emergency numbers in Lagos, Abuja, Ogun and other states for ambulance services, police intervention, fire incidents, domestic violence, child abuse and other crises.

He said, “This bill seeks to provide for a nationwide toll-free emergency number that will aid the implementation of a national system of reporting emergencies.

“The presence of multiple emergency numbers in Nigeria has been identified as an impediment to getting accelerated emergency response.”

Mr Yar’adua noted that the reform would bring Nigeria in line with global best practices, citing the United States, United Kingdom and India, countries where a single emergency line has improved coordination, enhanced location tracking and strengthened first responders’ efficiency.

With an estimated 90 per cent of Nigerians owning mobile phones, he said the unified number would significantly widen public access to emergency services.

Under the bill, all calls and text messages would be routed to the nearest public safety answering point or control room.

He urged the Senate to fast-track the bill’s passage, stressing the need for close collaboration with the Nigerian Communications Commission (NCC), relevant agencies and telecom operators to ensure nationwide coverage.

Senator Ali Ndume described the reform as “timely and very, very important,” warning that the absence of a reliable reporting channel has worsened Nigeria’s security vulnerabilities.

“One of the challenges we are having during this heightened insecurity is lack of proper or effective communication with the affected agencies,” Ndume said.

“If we do this, we are enhancing and contributing to solving the security challenges and other related criminalities we are facing,” he added.

Also speaking in support, Senator Mohammed Tahir Monguno said a centralised emergency number would remove barriers to citizen reporting and strengthen public involvement in security management.

He said, “Our security community is always calling on the general public to report what they see.

“There is a need for government to create an avenue where the public can report what they see without any hindrance. The bill would give strength and muscular expression to national calls for vigilance.”

The bill was referred to the Senate Committee on Communications for further legislative work and is expected to be returned for final consideration within four weeks.

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Tinubu Swears-in Ex-CDS Christopher Musa as Defence Minister

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By Modupe Gbadeyanka

The former chief of defence staff (CDS), Mr Christopher Musa, has been sworn-in as the new Minister of Defence.

The retired General of the Nigerian Army took the oath of office for his new position on Thursday in Abuja.

The Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, confirmed this development in a post shared on X, formerly Twitter, today.

“General Christopher Musa takes oath of office as Nigeria’s new defence minister,” he wrote on the social media platform this afternoon.

Earlier, President Bola Tinubu thanked the Senate for confirming Mr Musa when he was screened for the post on Wednesday.

“Two days ago, I transmitted the name of General Christopher G. Musa, our immediate past Chief of Defence Staff and a fine gentleman, to the Nigerian Senate for confirmation as the Federal Minister of Defence.

“I want to commend the Nigerian Senate for its expedited confirmation of General Musa yesterday. His appointment comes at a critical juncture in our lives as a Nation,” he also posted on his personal page X on Thursday.

The former military officer is taking over from Mr Badaru Abubakar, who resigned on Sunday on health grounds.

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Presidential Directives Helping to Remove Energy Bottlenecks—Verheijen

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Cut Energy Costs

By Adedapo Adesanya

The Special Adviser to President Bola Tinubu on Energy, Mrs Olu Verheijen, says Presidential Directives 41 and 42 have emerged as the most transformative policy tools reshaping Nigeria’s oil and gas investment landscape in more than a decade, by helping eliminate bottlenecks.

Mrs Verheijen made this assertion while speaking at the Practical Nigerian Content Forum 2025, noting that the directives issued by her principal in May 2025, are specifically designed to eliminate rent-seeking, slash project timelines, reduce contracting costs, and restore investor confidence in the Nigerian upstream sector.

“These directives are not just policy documents; they are enforceable commitments to make Nigeria competitive again,” she declared.

She noted that before the directives were issued, Nigeria faced chronic delays in contracting cycles, which discouraged capital inflows and stalled major upstream projects.

“For years, investment stagnated because our processes were too slow and too expensive. Presidential Directives 41 and 42 are removing those bottlenecks once and for all,” she said.

According to her, the directives have already begun to shift investor sentiment, unlocking billions of dollars in new commitments from international oil companies.

“We are seeing unprecedented investment inflows. Shell, Chevron and others are returning with confidence because they can now see credible timelines and competitive project economics,” Verheijen said.

Speaking on the link between streamlined contracting and local content development, she stressed that the directives were crafted to reinforce, not weaken, Nigerian participation.

“Local content is not an obstacle; it is a catalyst. It helps us meet national objectives, contain costs, and deliver projects faster when applied correctly,” she explained.

Mrs Verheijen highlighted that the directives complement the government’s data-driven approach to refining local content requirements while ensuring Nigerian talent and enterprises remain central to new investments.

“Our goal is to empower Nigerian companies with opportunities that are commercially sound and globally competitive,” she said.

She pointed to the current spike in industry activity, over 60 active drilling rigs, as evidence that the directives are driving real operational change.

“We have moved from rhetoric to results. These directives have triggered a new cycle of upstream development,” she said.

The energy expert added that the reforms are critical to achieving Nigeria’s production ambition of 3 million barrels of oil and 10 billion standard cubic feet (bscf) of gas per day by 2030.

“To meet these targets, we need speed, efficiency, and collaboration across the value chain. The directives are the foundation for that,” she noted.

She also linked the directives to Nigeria’s broader regional ambitions, including its leadership role in the African Energy Bank.

“With a $100 million facility now launched, we are ensuring that investment translates into jobs, technology transfer, and long-term value for Nigeria,” she said.

Mrs Verheijen concluded by urging the industry to uphold the spirit and letter of the presidential instructions.

“These directives are a collective responsibility. Government, operators, financiers, and host communities must work together to deliver the Nigeria we envision,” she said. “We remain committed to ensuring Nigeria remains Africa’s premier investment destination,” she said.

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