General
Adelabu Says Missing N128bn Happened Before Appointment as Power Minister
By Adedapo Adesanya
The Minister of Power, Mr Adebayo Adelabu, has dismissed allegations of N128 billion in misappropriated public funds linked to his ministry and the Nigerian Bulk Electricity Trading Plc (NBET), insisting the irregularities occurred before his administration.
In a statement issued by his Special Adviser on Strategic Communications and Media Relations, Mr Bolaji Tunji, the minister, who is rumoured to be gunning for the Oyo State Governor position, clarified that he assumed office in August 2023, while the audit report under scrutiny pertains to the 2022 financial year.
The Socio-Economic Rights and Accountability Project (SERAP) in a statement issued on Sunday tasked President Bola Tinubu to investigate allegations that more than N128 billion could not be accounted for by the ministry and NBET Plc.
The group urged Mr Tinubu to give directive to the Attorney General of the Federation and Minister of Justice, Mr Lateef Fagbemi (SAN), and the appropriate anti-corruption agencies to look into the allegations of the missing N128 billion.
It declared that anyone suspected to be responsible should face prosecution as appropriate, especially if there is sufficient admissible evidence, and any missing or diverted public funds should be fully recovered and remitted to the treasury.
In his response, the Minister said he has no objection to calls for investigation, but noted that it was important to clearly state that he was appointed in August 2023, whereas the audit report in question relates to the 2022 financial year.
“The issues raised in the referenced audit report pertain entirely to a period before the minister’s tenure. The call for investigation, therefore, has no bearing on the operations or financial activities of the ministry under the current administration.
“The Office of the Minister reaffirms its commitment to transparency and accountability and will co-operate fully with any legitimate process aimed at addressing legacy issues in the power sector, while remaining focused on its mandate of delivering stable and reliable electricity to all Nigerians,” the statement declared.
The statement also highlighted Mr Adelabu’s reputation for transparency and due process, noting that he is “widely regarded for his strict adherence to due process, probity, transparency, and accountability, as demonstrated in his previous roles in both the public and private sectors, and remains resolute in safeguarding this reputation.”
General
FCCPC Seals Paradise Estate Over Consumer Rights Violations
By Adedapo Adesanya
The Federal Competition and Consumer Protection Commission (FCCPC) has sealed Paradise Estate in Life Camp Extension, Abuja, following serious allegations of consumer rights violations.
The action was taken due to the estate’s alleged failure to deliver housing units to buyers despite receiving full payment.
The FCCPC also cited multiple public complaints and other offences as grounds for the enforcement.
According to the commission, numerous complaints had been lodged against Paradise Estate, but the management repeatedly failed to comply with regulatory directives.
The non-compliance prompted the FCCPC’s visitation and eventual sealing of the premises.
Speaking to reporters, the FCCPC’s Deputy Director of Surveillance, Marvin Nadah, noted that the developer was given a seven-day window to respond to an official summons but failed to comply.
In its defence, Paradise Homes’ Head of Legal, Mr Aloysius Ezenwa, argued that the transactions were protected under the existing “Contract of Sale.” The company expressed its dissatisfaction with the sealing, maintaining that the dispute is a contractual matter that should be settled before a tribunal.
However, the FCCPC maintained that its actions were lawful and that it had not been served with any court appeal to halt the process.
The commission reiterated its stance on prioritising the rights of Nigerian consumers and ensuring developers are held accountable.
It noted its commitment to protecting consumers from unfair business practices and warned other real estate developers to adhere strictly to contractual obligations and consumer protection laws.
The FCCPC’s involvement in a housing complaint comes after a Federal High Court in Abuja ruled that the organisation has the powers to investigate consumers’ complaints involving banks and other financial institutions.
The banks, the court ruled, are answerable to FCCPC. It dismissed a suit filed by the United Bank for Africa (UBA) and slammed N2 million on it.
The decision has been described as a big win for bank customers.
In a statement signed by its Corporate Affairs Director, Mr Ondaje Ijagwu, FCCPC’s chief executive, Mr Tunji Bello, said, “This is a big victory for bank customers.”
General
NPA Onne Honours Retirees
By Bon Peters
Retirees of the Nigerian Ports Authority (NPA) Onne Port complex in Rivers State were honoured at an event on Wednesday, April 22, 2026.
The ceremony was full of conviviality, renewal of camaraderie and more importantly a demonstration of love, affection and commitment as shown to the retirees by the management.
The Port Manager for Onne Port Complex, Mr Abdulrahmon Hussain, informed newsmen that the event was to appreciate the retirees who have shown commitment, laid foundation and also mentored most of the workforce at Onne.
“What the Nigerian Ports Authority Onne Port complex management is doing today is to appreciate our retirees,” he said.
“We believe that the foundation we are standing on today was laid by them. While in service, they have mentored our junior staff and contributed immensely to the growth and development of the Port.
“Simply put, you know here is referred to as a family Port and we want to sincerely show them that they are still members of the family though retired,” he added.
Mr Hussain also praised the Managing Director of the NPC, Mr Abubakr Dantsoho, for giving welfare of employees a priority.
“Today’s event is the first of its kind at our Port but we promise to make it more memorable going forward.
“Apart from the multivitamins and other drugs we provided for them, I feel the most important thing is the demonstration of love and care which the management has shown them today, and I promise that the management will do more next year,” he stated.
Also speaking, the Chief Medical Officer (CMO) of Onne Port complex Dr Bashir Kangiwa, applauded the Port Manager for the initiative describing it as the first of its kind.
He noted that when he was assigned to carry out the project from the Medical Department, he embraced the responsibility with all arms and was happy it was successful.
He hinted that the NPA has a policy that even as a retiree, they enjoy an unhindered access to the company’s medical facilities and could also be referred to another hospital if the ailment is beyond the organisation’s control.
One of the retirees, Mr Ndudim Amos Nwaji, a former NPA Senior Staff Association Chairman, thanked the management of Onne Port complex for the gesture.
He advised those in the leadership position of this country to borrow a leaf from the NPA management, insisting that the senior citizens of this country should be taken care of.
General
Tinubu Seeks Senate Approval to Borrow $516m from Deutsche Bank
By Modupe Gbadeyanka
President Bola Tinubu has asked the Senate to allow him to borrow about $516.3 million for the Sokoto-Badagry highway.
In a letter addressed to the Senate President, Mr Godswill Akpabio, on Thursday, Mr Tinubu said the loan would be obtained from Deutsche Bank, as the Federal Executive Council (FEC) has already approved the financing plan in one of its meetings.
The President begged the upper chamber of the National Assembly for a quick authorisation of the fresh loan to fast-track work on the project, which is expected to further boost the nation’s economy.
According to him, the superhighway project is a flagship initiative under his administration’s Renewed Hope Agenda designed to enhance national connectivity, reduce travel time, and improve the movement of goods across key economic corridors.
He informed the Senate in the letter that the loan is structured for nine years, including a three-year grace period, with an interest rate pegged at the Chicago Mercantile Exchange SOFR plus 5.3 per cent per annum.
Speaking on the request, the Senate President, who referred the letter to the Committee on Local and Foreign Debts for legislative action and a report back in one week, emphasised that it is better to borrow for projects to improve road safety and foster national integration.
The proposed 1,000-kilometre road will link Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos States, connecting Illela to Badagry.
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