General
AfDB, Interpol Strengthen Efforts to Combat Financial Crimes in Africa
By Adedapo Adesanya
The African Development Bank (AfDB) has announced a collaboration with the International Criminal Police Organisation (Interpol) to step up efforts against corruption and financial crime.
This makes AfDB the first multilateral development bank to establish such a collaboration with Interpol.
The Letter of Intent was signed on Wednesday by African Development Bank Group President, Mr Akinwumi Adesina and Interpol Secretary General, Mr Valdecy Urquiza.
According to a statement, the partnership will enhance collaboration between the AfDB’s Office of Integrity and Anti-Corruption and Interpol’s Financial Crime and Anti-Corruption Centre.
Both organisations will focus their resources towards enhancing investigative capabilities, and developing preventive measures against emerging financial crime threats, including cybercrime, anti-corruption measures, and counter-terrorism financing.
This initiative comes as Africa faces significant challenges of illicit financial flows, estimated at nearly $90 billion annually—a loss of resources that could otherwise be invested in critical development needs including water, sanitation, health, food, and energy infrastructure.
Advancements in digital technology have also led to an increase in internet-enabled financial crimes.
According to Interpol’s 2024 Global Financial Fraud Assessment, business email compromise, romance baiting, phishing, and other online frauds pose growing threats to Africa’s digitalized economy.
Speaking on the move, Mr Adesina said AfDB deploys approximately $10 billion annually in development financing, with the majority going to government projects.
He said the bank brings crucial insight into regional financial flows and development challenges.
“This partnership demonstrates our commitment to protecting development resources and ensuring they reach their intended beneficiaries,” said Mr Adesina.
“By joining forces with Interpol, we are strengthening our capacity to help African countries build robust systems against money laundering and financial crime.”
On his part, Interpol’s Secretary General Urquiza, who was elected to his position in November 2024, said, “Corruption and financial crime are among the biggest obstacles to economic and social development in Africa and around the world.
“The evolving nature of financial crime, particularly in the digital environment, requires strong partnerships between law enforcement and financial institutions.”
Interpol’s closer relationship with the African Development Bank Group will help law enforcement agencies and financial institutions across Africa tackle increasingly sophisticated financial crime threats,” he added.
General
Supreme Court Empowers Tinubu to Declare Emergency Rule, Suspend Elected Officials
By Adedapo Adesanya
The Supreme Court has upheld the power of the President to declare a state of emergency in any state to prevent a breakdown of law and order or degeneration into a state of chaos or anarchy.
In a split decision of six-to-one, the apex court held that the President, during a state of emergency, can suspend elected officials, but within a limited period.
In the lead majority judgment, Justice Mohammed Idris held that Section 305 of the Constitution empowers the President to deploy extraordinary measures to restore normalcy where emergency rule is declared.
Justice Mohammed Idris noted Section 305 was not specific on the nature of the extraordinary measures, thereby granting the President the discretion on how to go about it.
The judgment was on the suit filed by Adamawa State and 10 other Peoples Democratic Party-led states challenging the propriety of the state of emergency declared by President Bola Tinubu in Rivers State, during which elected state officials, including Governor Siminalayi Fubara, were suspended for six months.
On March 18, President Tinubu declared a state of emergency in Rivers State following a reported attack on crude oil pipelines; and in the same breath, suspended the sitting governor and his deputy, Mrs Ngozi Odu. He then put in place a sole administrator.
This was challenged at the apex court by some states.
Justice Idris, in the earlier part of the judgment, upheld the preliminary objections raised by the two defendants against the competence of the suit.
In upholding the objections raised by the Attorney General of the Federation (AGF) and the National Assembly (the defendants), Justice Idris held that the plaintiffs (the 11 PDP states) failed to establish any cause of action capable of activating the original jurisdiction of the apex court.
He struck out the suit for want of jurisdiction, proceeded to also determine the case on the merits, and dismissed it.
However, Justice Obande Ogbuinya dissented and held that the case succeeded in part.
Among others, Justice Ogbuinya held that although the President could declare a state of emergency, he cannot use such powers as a tool to suspend elected state officials, including governors, deputy governors, and members of parliament.
General
AI in Agriculture, Retail Sectors May Lead to Double Digit Growth by 2035
By Adedapo Adesanya
High-impact sectors, including agriculture, wholesale and retail, will see double digit increases with the integration of artificial intelligence (AI) across Africa by 2035.
This is according to a new report by the African Development Bank (AfDB) developed under the G20 Digital Transformation Working Group, Africa’s AI Productivity Gain: Pathways to Labour Efficiency, Economic Growth and Inclusive Transformation, which establishes a strategic roadmap for unlocking the economic and social potential of AI across the continent.
The study, carried out by consulting firm Bazara Tech, finds that inclusive AI deployment could generate up to $1 trillion in additional GDP by 2035 equivalent to nearly one-third of the continent’s current economic output.
The report added that this is underpinned by Africa’s growing digital capacity, favorable demographics, and ongoing sectoral reforms, making it one of the most promising regions for AI-driven growth globally.
According to the report the AI dividend is expected to be concentrated in select high-impact sectors, rather than spread evenly across Africa’s economy. Analysis identified five priority sectors—agriculture (20 per cent), wholesale and retail (14 per cent), manufacturing and Industry 4.0 (9 per cent), finance and inclusion (8 per cent), and health and life sciences (7 per cent)—which together are projected to capture 58 per cent of the total AI gains, or approximately $580 billion by 2035. These sectors combine economic size, readiness to adopt AI, and strong potential to deliver inclusive development outcomes.
“We have set out the key actions in this report, identifying the areas where initial implementation should be focused,” said Mr Nicholas Williams, Manager of the ICT Operations Division at AfDB.
“The bank is ready to release investment to support these actions. We expect the private sector and the government to utilize this investment to ensure we achieve the identified productivity gains and create quality jobs,” he added.
The report also revealed that realising the potential of AI depends on five interlinked enablers: data, compute, skills, trust, and capital. Reliable and interoperable data forms the foundation for AI insights, while scalable compute infrastructure ensures solutions can be deployed efficiently across the continent.
It noted that a skilled workforce is essential to develop, implement, and maintain AI systems, and trust built through governance, and regulatory frameworks underpins adoption.
The report also noted that the enablers, together with adequate capital investment to de-risk innovation and accelerate deployment, would “foster a cycle of AI-driven growth.”
The report also outlines a three-phase roadmap toward Africa’s AI readiness: ignition (2025-27), consolidation (2028-31) and scale (2032-35).
“Achieving early milestones by 2026 will set Africa’s AI flywheel in motion,” said Mr Ousmane Fall, Director of Industrial and Trade Development at the bank. “Africa’s challenge is no longer what to do — it is doing it on time.”
General
Crude Oil Tanker Seized Near Venezuela Not Registered in Nigeria—NIMASA
By Adedapo Adesanya
The Nigerian Maritime Administration and Safety Agency (NIMASA) has clarified that the crude oil vessel, MV Skipper, intercepted by the United States Coast Guard, in collaboration with the US Navy for its alleged involvement in crude oil theft and other transnational crimes is not registered in Nigeria.
NIMASA said the Very Large Crude Carrier (VLCC) SKIPPER with IMO Number 9304667 is not a Nigerian-flagged vessel, and its purported owners, Thomarose Global Ventures Limited, are not registered with NIMASA as a shipping company.
An analysis of the vessel’s movement carried out NIMASA through its Command, Control, Communication, Computers and Intelligence (C4i) Centre showed that the facility was last sighted on Nigerian waters on July 1, 2024.
“After departing Nigerian waters, the vessel continued on its international voyage pattern and was tracked operating in the Arabian Sea (Asia) and later in the Caribbean region, where the US interdiction eventually took place.
“Records indicate that SKIPPER, which was formerly owned by Triton Navigation Corp, has undergone multiple name changes over time.
The Director General of NIMASA, Mr Dayo Mobereola, reaffirmed the agency’s commitment to collaborate with all relevant stakeholders, including US authorities, in the ongoing investigations, noting that in a statement that criminality will not be tolerated on Nigerian waters.
Last week, US forces seized an oil tanker carrying a Panama flag believed to be the VLCC Skipper, after satellite imagery showed the vessel secretly loading over 1.8 million barrels of sanctioned Merey crude at Venezuela’s José Terminal.
The vessel had been transmitting falsified AIS positions during the operation, a tactic increasingly used by “dark fleet” tankers tied to Venezuelan and Iranian trades. It was later revealed that the seized tanker Skipper, was carrying crude contracted by Cubametales, Cuba’s state-run oil trading firm.
The seizure of the sanctioned oil tanker has sharply escalated tensions between the US and Venezuela. The US government also said it is preparing to intercept more ships transporting Venezuelan oil.
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