General
$1.6b Oil Fraud: How Diezani’s Ally, Jide Omokore, Bought Cars for Friends–Skymit Motors CEO
By Dipo Olowookere
The trial of Mr Jide Omokore, an ally to former Minister of Petroleum Resources, Ms Diezani Allison-Madueke, in an alleged case of $1.6 billion oil fraud continued on Thursday, April 26, 2018 before Justice Nnamdi Dimgba of the Federal High Court, Abuja, with the seventh prosecution witness, Olutaye Ayeni, testifying.
Omokore, is facing a nine-count amended charge of criminal diversion of funds to the tune of $1.6 billion alleged to be proceeds of petroleum products belonging to the federal government.
He is being prosecuted alongside Victor Briggs, Abiye Membere, David Mbanefo, Atlantic Energy Brass Development Limited and Atlantic Energy Drilling Concepts by the Economic and Financial Crimes Commission (EFCC).
Ayeni, Chief Executive Officer, Skymit Motors, in his evidence narrated how Omokore used his company (Atlantic Energy) to purchase cars for friends and associates.
Led in evidence by Rotimi Jacobs, SAN, counsel to EFCC, Ayeni, who specialises in auto sales and a dealer in Mercedes Benz revealed how Omokore purchased series of cars from his company, to which he (Ayeni) received credit flow of over $8million between 2010 and 2015.
When asked of the relationship between his company and Omokore, the witness said:
“I know Omokore for the past 32 years and we have been a business partner for over 24 years.
The transaction between my company and the defendant’s company was the supply of vehicles to him”.
Explaining how the cars were supplied, Ayeni said, “Before 2015, the defendant was one of our customers. He used to order cars and we supply to him. Sometimes he pays cash advance and sometimes in credit”.
The PW7 stated that, “after the defendant had placed his order – the type, make of cars and possibly the colour; we make delivery directly to him (Omokore) and sometimes through his company staff”.
He added that deliveries of cars were usually not made to third party except on customer’s request.
“We don’t make deliveries to third party except our customer asks us to do so”, he said.
Going further, the witness said “We sold to the defendant Mercedes Benz S550 at the cost of N26million in the name of Mbanefo David/Chief Omokore and another Mercedes M350 at the cost of N23 million in the name of Nneka Bricks.
Rotimi sought to tender the statement of account of the witness for July 2014, which contained names of individuals including Uche Secondus, Chairman, Peoples Democratic Party, PDP, who were supplied with cars on the order of Omokore, but was overruled following an objection by counsel to the 3rd defendant.
On the number of vehicles supplied to a third party on the order of Omokore, the PW7 stated that the cars were supplied in batches of 25, 9, 22 and 20 pickups.
He told the court that, he could not recall the actual amount involved in the purchase of the cars adding that different sums were credited to his company’s account on different dates.
Reading from ‘Exhibit 1’, a document already in evidence before the court, Ayeni said: “$1.26 million was credited to Skymit. Other payments received from the defendant’s Sky Bank account include – $1 millon on November 6, 2013; Two payments of $1 million each on July 8, 2014; $1.5 million on August 11, 2014 and $1 million on September 17, 2014”.
The case has been adjourned to April 27, 2018 for continuation of trial.
General
Tinubu in UAE for 2025 Abu Dhabi Sustainability Week
By Modupe Gbadeyanka
President Bola Tinubu on Saturday, January 11, 2025, left the shores of Nigeria for the United Arab Emirates to take part in the 2025 Abu Dhabi Sustainability Week (ADSW 2025).
He was accompanied by the Minister of Foreign Affairs, Mr Yusuf Tuggar, and other senior government officials.
A statement issued by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, disclosed that Mr Tinubu was invited for the event by his UAE counterpart, Mr Mohamed bin Zayed Al Nahyan.
He will attend the programme starting from today, Sunday, January 12 to Saturday, January 18, 2025.
However, President Tinubu is expected to return to Nigeria before the end of the summit on Thursday, January 16, 2025.
The event, themed The Nexus of Next; Supercharging Sustainable Progress, is expected to bring together global leaders to accelerate sustainable development and advance socioeconomic progress.
In addition, it will enable policymakers, business, and civil society leaders to explore pathways to fast-track the transformation to a sustainable economy and evolve a new era of prosperity for all.
ADSW, a testament to the power of collaboration, has been held annually for over 15 years. It provides a global platform to foster multi-stakeholder cooperation in addressing global challenges and accelerating growth.
It has birthed high-value agreements and strategic partnerships between governments, industry leaders, and clean energy pioneers worldwide, driving impactful alliances and advancing the sustainability agenda worldwide.
At the event, President Tinubu will stress his administration’s reforms, including those related to energy sufficiency, transportation, public health, and economic development.
The Nigerian leader and his entourage will also meet with the emirate’s leadership to discuss issues of interest affecting the two nations.
General
Lagos Speaker Mudashiru Obasa Faces Renewed Scrutiny Over Financial Mismanagement
By Dipo Olowookere
The Speaker of the Lagos State House of Assembly, Mr Mudashiru Obasa, remains at the centre of a storm of corruption allegations that have plagued his tenure.
Critics, anti-corruption groups, and opposition leaders have accused him of financial mismanagement, extravagant spending, and abuse of office, yet no substantive action has been taken against him.
Recent reports by People’s Gazette revealed that the 40-member Lagos State House of Assembly, under Mr Obasa’s leadership, spent over N43 billion on “back-up vehicles for honourable members” between January 2023 and the third quarter of 2024.
This expenditure, part of a larger N90.5 billion disbursed for questionable projects, has raised concerns among Lagos residents about the state’s priorities amid widespread economic hardship.
Budget documents showed the Assembly spent about N30.1 billion on vehicles in 2023 and about N13.3 billion in the first three quarters of 2024. Critics argued that these sums, which equate to roughly N1.1 billion per lawmaker, were frivolous.
Mr Obasa has faced allegations of corruptions since early in his tenure, including reports of owning over 60 bank accounts used to misappropriate public funds. In 2019, People’s Gazette reported that the lawmaker conducted suspicious foreign exchange transactions totaling $2.4 million (N1.1 billion). These funds were allegedly funneled through personal accounts and mutual fund investments.
In October 2020, the Economic and Financial Crimes Commission (EFCC) invited the Speaker for questioning over allegations of fraud. Despite evidence of financial impropriety, including allegations of inflated contracts and misappropriated Assembly funds, the EFCC has yet to take decisive action. Protests led by civil society groups like the Civil Society Network Against Corruption (CISNAC) demanding accountability have yielded little progress.
Mr Obasa has consistently denied these allegations. Speaking at a recent plenary, he dismissed claims of spending N17 billion on constructing a gate as “spurious and funny.”
He also refuted allegations of spending N200 million on a nonexistent thanksgiving service, attributing the accusations to political fear-mongering ahead of the 2027 elections.
However, critics have dismissed these defenses as self-serving. A 2020 House panel, composed of Mr Obasa’s allies, cleared him of wrongdoing—a decision labeled a “kangaroo judgment” by anti-corruption advocates.
Prominent anti-corruption campaigner, Mr Olanrewaju Suraju, has urged the EFCC to act on the mounting evidence against Mr Obasa, warning that his actions undermine legislative independence and public trust.
“These revelations justify the urgent need for mechanisms to enforce probity and accountability in public office,” Mr Suraju said.
Despite the scandals, Mr Obasa appears unperturbed and untouchable, with analysts attributing his survival to political connections and an entrenched culture of impunity.
As Lagos State prepares for the 2027 elections, the Speaker’s continued tenure symbolizes a broader challenge of corruption and governance in Nigeria’s political landscape.
Observers now await further developments as pressure mounts on anti-graft agencies to act decisively.
For Lagos residents, however, the scandals highlight a troubling disconnect between political leadership and the needs of the people.
General
Nigeria Suffers First National Grid Collapse of 2025
By Modupe Gbadeyanka
Residents of Nigeria experienced a power outage on Saturday, January 11, 2025, after the national grid collapsed.
It was the first that occurred this year and it happened at about 3 pm today, according to information gathered by Business Post.
Last year, the nation recorded about 12 grid collapse that almost embarrassed the government, which later set up a team to look into the causes of the frequent collapse of the grid.
It was later that today’s incident occurred after power generation went down from 2,111.01 megawatts at 2:00 pm to about 390.20 megawatts by 4:55 pm.
This development caused a cut in power supply in most parts of the country, but the situation has been brought under control, with electricity restored in most affected areas.
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