General
Court Freezes Bank Accounts Linked to Ex-NNPC Boss Mele Kyari
By Adedapo Adesanya
A Federal High Court sitting in Abuja has ordered the temporary freezing of four Jaiz Bank accounts linked to the immediate-past chief executive of the Nigerian National Petroleum Company (NNPC) Limited, Mr Mele Kyari, over allegations of fraud.
Justice Emeka Nwite made the order on Tuesday after counsel for the Economic and Financial Crimes Commission (EFCC), Mrs Ogechi Ujam, moved an ex parte motion asking the court to freeze the accounts in the interim pending the conclusion of investigations by the commission.
The judge, in his ruling, held that the application was meritorious and accordingly granted same.
“I have listened to the counsel for the applicant and gone through the affidavit evidence with the exhibits and written address attached. I found that this application is meritorious and it is hereby granted as prayed,” the judge held.
Justice Nwite then adjourned till September 23 for a report on the matter.
The anti-graft agency on August 11, 2025, filed the motion ex parte before the court to seek an order freezing the bank accounts because the accounts are owned by Mr Kyari.
The EFCC disclosed that Mr Kyari is “currently being investigated in a case involving the offences of conspiracy, abuse of office and money laundering pending the conclusion of the investigation.”
In the affidavit attached to the ex parte, Mr Amin Abdullahi, an EFCC investigator attached to the Special Investigation Unit, said the commission received and investigated a petition dated April 24 and filed by a group, the Guardian of Democracy and Rule of Law, against Mr Kyari.
He said he was a member of the team assigned to investigate the petition.
“Upon receipt of the petition referred to in Paragraph 4 above, my team carried out several investigation activities which included seeking and obtaining bank records from commercial Banks,” he said.
He said the preliminary investigations found that two of the bank accounts carry the name of Mele Kyari, while the other two have the name of a non-governmental organisation, Guwori Community Development Foundation Flood Relief.
The accounts were listed as: “Jaiz Bank account number: 0017922724 with account name: Mele Kyari; Jaiz Bank account number: 0017922724 with account name: Mele Kyari; Jaiz Bank account number: 0018575055 and Jaiz Bank number: 0018575141 with both account names as Guwori Community Development Foundation Flood Relief.”
The anti-graft agency argued that the bank accounts in respect of which the reliefs are sought are subject matters of investigation by the Commission about misappropriation of funds and criminal breach of trust.
The EFCC also said that the preliminary investigation conducted thus far revealed that the bank accounts are linked to Mr Kyari, who has been using them to receive suspicious inflows from NNPC and various oil companies that have dealings with NNPC.
“That bank records further revealed that these accounts are controlled and managed by Mr Kyari through his family members who are acting as fronts,” he said.
Mr Abdullahi also said the investigation so far carried out revealed “that N661,464,601.50, which are suspected to be proceeds of unlawful activities, were warehoused in four different accounts.
“These funds were traced to Mele Kolo Kyari, who is the former Group Managing Director (GMD) of Nigerian National Petroleum Corporation (NNPC).
“Further investigation revealed that the said transactions in the various accounts were disguised as payments for a purported book launch and activities of a non-governmental organisation (NGO).
“That the Commission has written to Jaiz Bank, where the accounts referred to are domiciled, for the hard copies of the comprehensive account details. While the response of the Bank is being awaited, the Commission has written to post a “no debit” instruction on the accounts, which will only last for 72 hours.
“That I was informed by M.A. Babatunde Esq., learned counsel to the Applicant during official briefing at EFCC Headquarters, and I verily believe him that an order of this honourable court is necessary to freeze the said accounts clearly described in schedule 1 to the motion paper, while investigation is ongoing.
It also said, “That there is a need to preserve the funds in the identified bank accounts pending the conclusion of the investigation and possible prosecution”.
“That it is in the interest of justice to grant this application.”
By Adedapo Adesanya
The Pension Transitional Arrangement Directorate (PTAD) has said the implementation of the Defined Benefit Scheme Pension Harmonisation is a reform meant to advance and enhance pension payment equity in the country.
The chief executive of PTAD, Mrs Tolulope Abiodun Odunaiya, said this initiative was a landmark reform designed to restore fairness, improve retirees’ welfare and strengthen confidence in the administration of the country’s legacy pension system.
The harmonisation exercise marks one of the most significant policy interventions in the Defined Benefit Scheme since PTAD was established in 2013 to take over the management of pensions under the old federal pension arrangement.
Unlike periodic pension increases that merely raise existing benefits by a percentage, she stressed that pension harmonisation was further than that by recomputing pensions using the latest approved salary structures that existed before the closure of the Defined Benefit Scheme.
She noted that the objective is to ensure that retirees who held similar positions and rendered comparable years of service receive equitable pension benefits regardless of their retirement dates.
The initiative comes against the backdrop of years of agitation by pensioners over historical disparities in pension computation.
She added that the PTAD’s harmonisation programme seeks to resolve that challenge by restoring parity within the system. According to her, pension harmonisation is the formal recomputation of pensions using approved salary structures applicable before the DBS cut-off date.
In practical terms, it ensures that pension outcomes are determined by rank, grade level and years of service rather than the year of retirement.
The Directorate believes the exercise will significantly improve social justice by correcting historical inequities that disadvantaged thousands of retirees.
The harmonisation applies primarily to pure Federal Government pensioners as well as eligible retirees under the Parastatals Pension Department (PaPD), Defunct and Transferred Agencies Pension Department (DTAPD), and the Education and Health Pension Department (TEHPD), particularly those who initially served under the Federal Government before their agencies were transferred to state governments.
By Adedapo Adesanya
The Nigeria Police Force will today, Tuesday, July 14, 2026, arraign the controversial director-general of the non-existent Presidential Foreign Intervention Promotion Council (PFIPC), Mr Adeniyi Adeyemi.
The arraignment will take place before Justice Mohammed Umar of the Federal High Court in Abuja.
The police had charged Mr Adeyemi alongside two others with eight counts, including forgery and impersonation, in the case marked FHC/ABJ/CR/562/2025.
The case was initially filed on November 27, 2025, by Mr Wisdom Madaki, a police prosecutor.
Court proceedings had stalled on June 16, scheduled for Mr Adeyemi’s arraignment, due to his absence from court on grounds of ill health.
According to the court documents, proposed prosecution witnesses to testify against the defendants include the Chief of Staff to the President, Mr Femi Gbajabiamila; Paul Emmanuel, Jeremiah Imoukhede and Ituah Sylvester.
Others are civil servants working in the Office of the Accountant General of the Federation, Mr Akimbo Shola and Mr Adamu Balongu, a deputy superintendent of police, were on the list.
Also listed as witnesses are Mr Ojo Victor, Mr Omeh Amarachukwu, and Mr Wakili Saidu, all of whom were allegedly posted to work with Mr Adeyemi at the non-existent agency.
Others are Mrs Joy Ngwoke, the owner of Kachi Hotel in Abuja, and Mr Ven Okoriko, the pastor of St. Matthew’s Anglican Church, Maitama.
The documentary exhibits planned to be tendered by the prosecution to prove the case include the police investigation report, Mr Gbajabiamila’s petition dated October 17, 2025, and Mr Adeyemi’s fake presidential appointment letter dated March 8, 2024.
They also include the request for a note verbale by Mr Adeyemi sent to the Ministry of Foreign Affairs and the approvals he got to open accounts with the Central Bank of Nigeria (CBN), the request for approval of self-accounting status Mr Adeyemi sent to the Accountant-General of the Federation’s office and the conveyance of approval for take-off of the PFIPC.
Other documents listed by the prosecution are a letter of request for collaboration with the ministry in the area of land acquisition and offices across the 36 states of the federation; statements of all the witnesses and that of the defendants, and pictures.
The police, in the court document, said, “The prosecution shall at the trial call any other related witness or witnesses to prove its case.”
The prosecution accused Mr Adeyemi of operating the fictitious agency from the 2nd Floor of the Federal Secretariat Complex in Abuja, Phase III, before his arrest.
Last week, President Bola Tinubu directed the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to conduct a thorough investigation into the activities of the fictitious agency.
The president gave the ICPC 30 days to complete the investigation, so it is currently unclear how the outcome of the ICPC investigation would impact the police prosecution.
By Aduragbemi Omiyale
A coordinated push to position gender inclusion as a driver of business competitiveness, investment and long-term economic growth has led to the introduction of the Nigeria Gender Country Programme (NGCP) by the private sector.
This initiative, led by the International Finance Corporation (IFC), a member of the World Bank Group, in partnership with Nigerian Exchange (NGX) Group Plc and the Lagos Chamber of Commerce and Industry (LCCI), aligns advisory expertise, funding and partnerships to strengthen women’s representation in leadership, improve access to quality employment, and expand access to finance, technology and markets for women and women-led businesses.
It builds on the CEO Roundtable held in June and the progress achieved through Nigeria2Equal, IFC’s earlier initiative, as it now moves into implementation, with participating organisations expected to adopt practical, measurable gender-smart business practices.
The economic case is significant, with the program underpinned by research showing that closing gaps in women’s leadership, employment and entrepreneurship could generate an estimated $22.9 billion in additional economic output annually, reinforcing the economic case for stronger private sector action on gender inclusion.
“Advancing women’s economic participation is no longer simply a social aspiration; it is a business imperative, an investment in productivity, a catalyst for innovation and a driver of sustainable economic growth.
“Through the Nigeria Gender Country Program, we are creating a practical framework that will help businesses strengthen leadership, expand opportunity and unlock the inclusion dividend for Nigeria’s economy,” the chairman of NGX Group, Mr Umaru Kwairanga, stated.
The Governor of Lagos State, Mr Babajide Sanwo-Olu, represented by the Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, reaffirmed the state’s commitment to creating an enabling environment for women-led enterprises and strengthening inclusive economic development, while the Minister of Women Affairs, Mrs Imaan Sulaiman-Ibrahim, represented by Ms Aishatu Digili, called for stronger collaboration between government, development institutions and the private sector to accelerate women’s economic empowerment and expand opportunities for women across key sectors of the economy.
The Division Director for West and Central Africa at IFC, Mr Olivier Buyoya, said, “Creating more and better jobs is central to IFC’s mission across Africa. Economies grow faster, and businesses perform better when women have equal opportunities to participate, lead, innovate and succeed.
“Through the Nigeria Gender Country Program, we are bringing together the private sector, capital markets and development partners to help companies turn this opportunity into stronger business performance, greater competitiveness and more inclusive growth. We look forward to working with Nigerian businesses to unlock the full economic potential of women as a driver of Nigeria’s future prosperity.”
Speaking on behalf of the Director-General of the Securities and Exchange Commission (SEC), Mr Emomotimi Agama, the Commission’s Executive Commissioner, Legal and Enforcement, Ms Frana Chukwuogor, said, “The Commission welcomes the Nigeria Gender Country Program as an important platform for deepening collaboration, innovation and knowledge sharing in support of inclusive market development. We commend the IFC for its leadership in promoting inclusive private sector development globally, and for its partnership with Nigeria in strengthening our financial markets.”
