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Obanikoro Returns N100m To EFCC

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By Dipo Olowookere

Reports have it that former Minister of State for Defence, Mr Musiliu Obanikoro, has refunded about N100.4 million out of the N785 million a company linked to him, Sylvan McNamara, allegedly received from the former National Security Adviser (NSA), Mr Sambo Dasuki.

It was further reported that following this latest move, the Economic and Financial Crimes Commission (EFCC), which has held him since October 19, 2016, may release him anytime soon.

“After many days of foot-dragging, the ex-Minister has paid back N100.4 million out of about N785 million allegedly collected from the Office of National Security Adviser (ONSA) by Sylvan McNamara Limited, a company which was allegedly linked to him.

“I think we may grant him bail to give him time to look for the balance of the cash. We are trying to verify the government account he paid into and we want to confirm the payment. We may release him any moment from now after the confirmation.

“This, however, does not mean that we are dropping any charges against him. Our objective is first of all to recover the illegal funds.

“The decision on his trial will depend on the review of his case and the extent to which he is liable. You know the ex-Minister has admitted flying over N1.299 billion to Akure in two shuttles for Governor Ayodele Fayose.

“The cash was collected by Fayose’s associate, Abiodun Agbele, who is currently on trial. Obanikoro also confessed that he personally gave $5.377m (N60m then) cash to Fayose.

“He admitted on oath that he was used to siphon public funds meant for arms purchase. These are all criminal offences which are punishable by the nation’s laws. The testimonies of Obanikoro will hasten his trial and ongoing prosecution of all the suspects implicated in the arms cash,” the Nation quoted a source to have said.

It was reported that Mr Obanikoro, in his statement to the EFCC, had alleged that N3.880 billion out of the N4.75 billion he collected from Dasuki was handed to Ekiti state governor, Mr Ayo Fayose, to rig the state governorship election in June 2014 in favour of the Peoples Democratic Party (PDP).

Mr Obanikoro also alleged that he handed over $5.377m (N60m then) cash to Fayose at Spotless Hotel, Ado-Ekiti in the presence of the former Secretary of the PDP in the state, Dr Tope Aluko, and other party stalwarts.

Mr Fayose has since dismissed this allegation, accusing the Federal government of wanting to rope him into the case by all means possible since he is always very critical of the Buhari-led administration.

Commenting on Mr Fayose’s denial, according to the Nation, the EFCC source said “The governor is just grandstanding because of the immunity he enjoys. He personally admitted collecting money from Zenith Bank as a campaign gift. His associate, Agbele, reeled out how houses were bought from the N1.299billion brought by Obanikoro. And the ex-Minister has finally nailed him with his statement on oath. Fayose has a date with the court. It is just a matter of time. In two years, he will be in the dock to account for the contracts he executed in the ONSA to have earned such slush funds.”

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Nigerian Bottling Company Bridges Education, Employability Gap

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By Modupe Gbadeyanka

The Nigerian Bottling Company (NBC) has reaffirmed its determination to bridge the gap between education and employability in the country by sustaining its flagship Youth Empowered (YE) programme.

This initiative provides hands-on learning, real-world insights, and access to career-shaping opportunities to young Nigerians.

The 2026 edition of the scheme commenced on February 2 at the University of Lagos (UNILAG), with participants mainly young people between the ages of 16 and 35.

A statement from the organisation said this year’s rollout will expand to more tertiary institutions, including the Federal University of Technology, Akure (FUTA). This follows a successful 2025 tour that reached seven cities across the country, including Makurdi, Jos, Benin, Kaduna, Asaba, Akure, and Port Harcourt.

Participants in the 2026 programme will receive training across key modules designed to support personal, professional, and business growth, including Business Life Skills, Adaptability and Resilience, Financial Literacy, Customer Service and Communication, Sales and Negotiation Skills, and Workplace Ethics.

The sessions will also feature breakout workshops on Business Planning, Project Management, and Time Management, alongside the Director’s Grant Pitch Competition, where participants can pitch their ideas for a chance to win business funding.

In addition to skills development, NBC’s People and Culture team will be present throughout the programme to identify outstanding talent for future opportunities within the organisation, further strengthening the connection between learning, employment, and long-term career growth.

One of the participants at the UNILAG training, Waliat Adedogun, who received a cash grant through the Director’s Grant Pitch Competition to support her small business, said: “Youth Empowered gave me more than training; it gave me clarity and confidence. Winning the grant means I can finally take my business idea from a dream into something real. I now feel prepared to build, grow, and create opportunities not just for myself, but for others too.”

Since its launch in 2017, the scheme has impacted more than 70,000 young Nigerians, equipping participants with practical skills, confidence, and exposure needed to succeed in today’s dynamic workplace and entrepreneurial landscape.

This year’s programme is being delivered in collaboration with Fate Foundation as the implementing partner, with funding support from The Coca-Cola HBC Foundation.

Last year, 10 beneficiaries were selected for six-month paid internships across NBC locations in Lagos, Ibadan, Asejire, and Challawa, gaining direct industry exposure.

Additionally, three outstanding participants received sponsorship for an all-expenses-paid intensive culinary training programme and were awarded N1 million each to support the launch of their businesses.

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INEC Fixes February 20 for 2027 Presidential, NASS Elections

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By Modupe Gbadeyanka

The 2027 presidential and National Assembly elections will take place on Saturday, February 20, the Independent National Electoral Commission (INEC) has revealed.

In a notice for the 2027 general polls issued on Friday, the electoral umpire also disclosed that the governorship and state assembly elections for next year would be on Saturday, March 6.

Speaking at a news briefing in Abuja today, the chairman of INEC, Mr Joash Amupitan, expressed the readiness of the commission to conduct the polls next year, which is 12 months away.

The timetable issued by the organisation for the polls comes when the federal parliament has yet to transmit the amended electoral bill to President Bola Tinubu for assent.

This week, the Senate passed the electoral bill, reducing the notice of elections from 360 days to 180 days, while the transmission of results was mandated with a proviso.

Recall that on February 4, INEC said it was ready to go ahead with preparations for the elections despite the delay in the passage of the amended electoral law of 2022.

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NGIC Pipeline Network to Experience 4-Day Gas Supply Shortage

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By Modupe Gbadeyanka

The pipeline network of the NNPC Gas Infrastructure Company Limited (NGIC) will witness a temporary reduction in gas supply for four days.

This information was revealed by the Chief Corporate Communications Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mr Andy Odeh, in a statement on Thursday night.

A key supplier of gas into the NGIC pipeline network is Seplat Energy Plc, a joint venture partner of the state-owned oil agency.

It was disclosed that the facility would undergo routine maintenance from Thursday. February 12 to Sunday, February 15, 2026.

The NNPC stated that, “This planned activity forms part of standard industry safety and asset integrity protocols designed to ensure the continued reliability, efficiency, and safe operation of critical gas infrastructure.”

“Periodic maintenance of this nature is essential to sustain optimal system performance, strengthen operational resilience, and minimise the risk of unplanned outages,” it added.

“During the four-day maintenance period, there will be a temporary reduction in gas supply into the NGIC pipeline network. As a result, some power generation companies reliant on this supply may experience reduced gas availability, which could modestly impact electricity generation levels within the timeframe.

“NNPC Ltd and Seplat Energy are working closely to ensure that the maintenance is executed safely and completed as scheduled. In parallel, NNPC Gas Marketing Limited (NGML) is engaging alternative gas suppliers to mitigate anticipated supply gaps and maintain stability across the network,” the statement further said.

“Upon completion of the maintenance exercise, full gas supply into the NGIC system is expected to resume promptly, enabling affected power generation companies to return to normal operations,” it concluded.

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