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Ajimobi Denies Siphoning Government’s Funds

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By Modupe Gbadeyanka

Governor Abiola Ajimobi of Oyo State has rubbished claims that he has lately been diverting money from government’s coffers.

An aide to the Oyo State Governor-elect, Mr Seyi Makinde, had accused the Mr Ajimobi-led administration of siphoning funds from government’s purse so as to cause financial crisis for him when he eventually takes charge on May 29, 2019.

Mr Makinde defeated candidate of Mr Ajimobi’s All Progressives Congress (APC), Mr Adebayo Adelabu, in the March 9, 2019 gubernatorial election in Oyo State.

Reacting to the allegation, Commissioner for Information, Culture and Tourism in Oyo State, Mr Toye Arulogun, described the claims by the incoming Governor as “a hoax intended to heat up the polity and whip up sentiments.”

The Commissioner stressed that the Mr Ajimobi government has always been transparent with financial transactions involving the state government.

“Governor Abiola Ajimobi who will be in the saddle of the state till the expiration of his tenure on May 28 2019 has been running the affairs of the state including fiscal transactions in the last eight years in a transparent manner in accordance with good governance and best practices.

“The Oyo State Government will continue to operate in line with its constitutional and statutory responsibilities.

“At the appropriate time, the necessary machinery will be instituted for the outgoing and incoming administration to meet and establish the desirable transition obligations,” the state government said in a statement.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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NISO Attributes Electricity Woes to Inadequate Gas Supply

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Electricity Tariff Hike

By Adedapo Adesanya

The Nigerian Independent System Operator (NISO) has attributed the poor power supply facing a considerable number of Nigerians to inadequate gas supply to thermal power plants.

Business Post reports that epileptic power supply has plagued consumers in Lagos, Oyo, Abuja, and Osun, among others, this month, leading to worries. Also, some businesses have recorded losses due to the epileptic power supply in their areas.

In a statement posted on its X handle, NISO disclosed that average available generation on the national grid currently stands at about 4,300 megawatts (MW), with the low output primarily attributed to gas supply constraints.

The system operator noted that thermal power plants, which account for the dominant share of Nigeria’s electricity generation mix, require an estimated 1,629.75 million standard cubic feet (MMSCF) of gas per day to operate at optimal capacity. However, as of February 23, 2026, actual gas supply to the plants was approximately 692.00 MMSCF per day.

The available supply represents less than 43 per cent of the daily gas requirement, resulting in constrained generation output and reduced electricity allocation to Distribution Companies (DisCos).

NISO, which independently manages the nation’s electricity grid, explained that any disruption or limitation in gas supply directly affects available generation capacity and overall grid output, given the heavy reliance on thermal plants.

It added that when total system generation drops significantly, the operator is compelled to implement load shedding across the network while dispatching available energy in line with allocation percentages approved under the Multi-Year Tariff Order (MYTO) framework of the Nigerian Electricity Regulatory Commission (NERC), to maintain grid stability and prevent system disturbances.

While expressing regret over the inconvenience to electricity consumers and market participants, NISO said it is working closely with relevant stakeholders to restore full energy allocation once gas supply improves and generation capacity returns to normal levels.

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EFCC Re-Arraigns ex-AGF Malami, Wife, Son Over Alleged Money Laundering

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re-arraign ex agf malami.jpg

By Adedapo Adesanya

The Economic and Financial Crimes Commission (EFCC) has re-arraigned former Attorney-General of the Federation (AGF), Mr Abubakar Malami (SAN), his wife, Mrs Asabe Bashir, and son, Mr Abdulaziz Malami, on money laundering charges.

They were brought before Justice Joyce Abdulmalik of the Federal High Court in Abuja, following the re-assignment of the case to the new trial judge.

Upon resumed hearing, EFCC’s lawyer, Mr Jibrin Okutepa (SAN), informed the court that the matter was scheduled for defendants’ re-arraignment.

“The matter is coming before your lordship this morning for the very first time. I will be applying for the plea of the defendants to be taken,” he said.

Mr Okutepa equally applied that the sums listed in Counts 11 and 12 be corrected to read N325 million instead of N325 billion for Count 11, and N120 million instead of N120 billion for Count 12.

When it was not opposed by the defence lawyer, Mr Joseph Daudu (SAN), Justice Abdulmalik granted the oral application by Mr Okutepa.

The defendants, however, pleaded not guilty to the 16 counts preferred against them by the anti-graft agency bordering on money laundering.

Justice Obiora Egwuatu had, on February 12, withdrawn from the case shortly after the civil case filed by the EFCC was brought to him.

The case was formerly before Justice Emeka Nwite, who sat as a vacation judge during the Christmas/New Year break.

After the vacation period, the CJ reassigned the cases to Justice Egwuatu, who had now recused himself, before it was reassigned to Justice Abdulmalik.

The former AGF, his wife, and son were earlier arraigned before Justice Nwite on December 30, 2025.

While Malami and his son were remanded at Kuje Correctional Centre, Asabe was remanded at Suleja Correctional Centre before they were admitted to N500 million bail each, on January 7, with two sureties each in the like sum.

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INEC Shifts 2027 Presidential, N’Assembly Elections to January 16

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INEC

By Adedapo Adesanya

Nigeria will hold next year’s presidential and National Assembly elections a month earlier than planned, after the Independent National Electoral Commission (INEC) revised the polling schedule.

The elections will be held on January 16, instead of the previously announced date of February 20, INEC said in an X post, signed by Mr Mohammed Kudu Haruna, National Commissioner and Chairman, Information and Voter Education Committee.

There were also changes to the Governorship and State Houses of Assembly elections initially fixed for Saturday, March 6 2027, in line with the Electoral Act, 2022, have now been moved to Saturday, February 6, 2027.

The electoral commission said the changes were caused by the enactment of the Electoral Act, 2026 and the repeal of the Electoral Act, 2022, which introduced adjustments to statutory timelines governing pre-election and electoral activities.

“The Commission reviewed and realigned the schedule to ensure compliance with the new legal framework,” it said.

INEC said party primaries (including resolution of disputes) will commence on April 23, 2026 and end on May 30, 2026, after which Presidential and National Assembly campaigns will begin on August 19, 2026, while Governorship and State Houses of Assembly campaigns will begin on September 9, 2026.

It noted that campaigns will end 24 hours before Election Day, and political parties have been advised to strictly adhere to the timelines.

INEC also stated it will enforce compliance with the law.

The electoral body also rescheduled the Osun Governorship election which was earlier scheduled for Saturday, August 8 2026, by a week to Saturday, August 15, 2026.

INEC noted that some activities regarding the Ekiti and Osun governorship elections have already been conducted, and the remaining activities will be implemented in accordance with the Electoral Act, 2026.

Speaking at a news briefing in Abuja two weeks ago, the chairman of INEC, Mr Joash Amupitan, expressed the readiness of the commission to conduct the polls next year.

The timetable issued by the organisation for the polls at the time came when the federal parliament had yet to transmit the amended electoral bill to President Bola Tinubu for assent.

Later that 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.

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