General
Court Sends Ex-Taraba Governor’s Aide to Prison for N5.4m Fraud
By Dipo Olowookere
A former Special Adviser on Revenue Matters to Taraba State government, Joshua Augustine, has been convicted of a two-count charge bordering on criminal breach of trust, misappropriation and conversion of public funds.
The federal government had in 2012 provided financial assistance to the tune of N400 million for the procurement of relief materials for victims of 2012 flood disaster. Two committees were set up to which Augustine was appointed to lead one of them. The sum of N214,795,870 was given to the committee, out of which a total of N5,452,580 was diverted.
He was accused to have between October 20, 2012 and December 29, 2012 as Secretary of the Procurement Sub-Committee ‘A’ Northern and Central Zones, “dishonestly misappropriated the sum of N4,702,580 out of the total sum of N214,795,870”.
Augustine was first arraigned before Justice Filibus Andetur of the Taraba State High Court in March 2016. At the end of the trial the prosecution presented five witnesses and tendered several documents to prove its case against him.
In finding him guilty, Justice Andetur on August 2, 2018 sentenced him to one year in prison on count one with an option of N100,000 as fine, and six months on count two with an option of N50,000 as fine to run concurrently.
The trial judge, however, added that: “In consideration that the convict has made considerable refund, almost all, the court suspends the sentence against the convict with the payment of the outstanding balance of N300,000 which the convict misappropriated as restitution to government and if he doesn’t pay, he goes to prison as the sentence stands”.
In a related development, the trial of Abdullahi Mohammed, a businessman arraigned before Justice Filibus Andetur in June 2018 on a nine-count charge of criminal breach of trust and forgery has been adjourned to October 30, 2018 due to the inability of the defence to “perfect its appearance”.
Mohammed was entrusted with grains by one Alhaji Jubrin Maida, but allegedly disposed of the items and diverted the money to personal use
The defence counsel led by Isa Buba, told the court that he was not in a position to proceed with the case as his brief was just perfected “this morning”.
“I have also not been able to interview the defendant to prepare for his defence,” he added.
He thus pleaded with the court to extend the interim bail given to his client in order to perfect his bail conditions.
Prosecuting counsel, Francis Jirbo, did not oppose the application.
“Though the application lacks merit, I hope that the defence will learn the right way in the profession,” he said.
The trial judge, thereafter, adjourned to October 30, 2018 noting that, “as the defendant is not ready to go on and has not been able to perfect his interim bail conditions granted to him, he is to be remanded in Jalingo prison.”
By Modupe Gbadeyanka
The Economic and Financial Crimes Commission (EFCC) has explained why it initiated a move to freeze the bank account of the Osun State government.
Earlier on Wednesday, the Governor of Osun State, Mr Ademola Adeleke, claimed that the anti-money laundering agency asked one of its bankers, First Bank, not to release funds to the state government.
According to the Governor, this was part of the strategies to frustrate his administration ahead of the August 15, 2026, governorship election in the state.
Reacting to the issue on Wednesday night, the EFCC, in a statement, said it has been investigating the state government since March 2026 over an alleged “fraudulent handling of Ecology Funds, Intervention Funds and Federal Account Allocation Committee (FAAC) account to the tune of N11.0 billion.
The organisation noted that some officials of the state government, especially the Accountant General of the State, have had interview sessions with investigators of the EFCC.
“These ongoing investigations of the state government would not have warranted any placement of Post No Debit order on its account but for the precipitate and unwarranted movement of funds from the accounts to different suspicious accounts since August 2, 2026.
“The commission noticed huge transfers of funds into different corporate entities and had to swiftly halt the trend by freezing the accounts from which such heavy funds are being moved,” parts of the statement said.
In the disclosure, the agency noted that its preventive mandate is a public-inclined framework of safeguarding public funds, assets and resources, stressing that it cannot “watch idly while a state government’s account is being pillaged.”
“While the commission is fully aware of the impending governorship election in Osun State, it has a responsibility to act in defence of the sanctity of the funds of the state. It will be uncharitable for the commission to allow an excuse of an upcoming election to fold its arms to perform its legally-assigned functions,” it pointed out.
The EFCC disclosed that it is “keeping watch over the finances of other states like Osun State. Many of these states are on the investigative radar of the commission to ensure accountability and probity. The commission has always pointed out that it is non-partisan and non-sectarian but always working in the overall interests of Nigerians. The Osun State government account was frozen to save public funds from being looted.”
The organisation urged the public “to ignore false narratives and deliberate demonisation of the works of the EFCC. The interests of all Nigerians are greater and will always be protected by the commission.”
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has launched a mobile application designed to monitor fuel consumption patterns in real time across retail outlets nationwide.
The NMDPRA, established under the Petroleum Industry Act (PIA) 2021, is responsible for the technical and commercial regulation of Nigeria’s midstream and downstream petroleum operations. The deployment of the mobile application aligns with the authority’s broader efforts to leverage technology to improve regulatory compliance and strengthen accountability.
The pilot phase of the project began on August 1 in Abuja and its six Area Councils, the authority said in a statement published on X.
As part of the rollout, the Executive Director for Distribution Systems, Storage and Retailing Infrastructure (DSSRI), Mr Ogbugo Ukoha, led a team alongside officials from the Abuja Regional Office to assess the readiness and operational performance of the digital platform at participating retail outlets.
According to the NMDPRA, the application captures inventory and compliance data in real time, enabling regulators to monitor fuel distribution more effectively while improving operational efficiency across the sector.
The authority said the platform would generate reliable, data-driven insights to support evidence-based decision-making, strengthen national energy security planning and enhance transparency in the downstream petroleum industry.
It added that the initiative is expected to provide significant value to government, investors, operators and other stakeholders by improving access to accurate fuel consumption and compliance data.
Nigeria’s downstream petroleum sector has undergone significant changes since the deregulation of the petrol market and the removal of fuel subsidies, with regulators placing greater emphasis on data-driven supervision to ensure product availability, prevent supply disruptions and discourage sharp regional disparities in distribution.
By Modupe Gbadeyanka
No doubt, moving money among African markets remains a slow, fragmented process that relies on multiple intermediaries and prolonged settlement cycles.
To solve this issue and drive the development of stablecoin-enabled payment services for businesses across the continent, Onafriq has joined forces with a leading stablecoin infrastructure provider, Privy.
The collaboration will enable Onafriq to create and manage embedded digital asset solutions for its partners and, in time, institutional clients where regulation allows. The initial phase focuses on cross-chain stablecoin transfers and treasury and settlement workflows, creating the foundation for future cross-border payment and liquidity solutions.
Integrating Privy’s secure infrastructure enables Onafriq to build the capabilities required to support a new generation of efficient digital payment services for banks, fintechs, and mobile money operators.
This partnership is a key component of Onafriq’s broader strategy to modernise pan-African payment infrastructure, enabling secure multi-modal wallets and more efficient movement of value across the continent.
The outcome will support a range of future institutional use cases, including stablecoin-enabled settlement, treasury management and liquidity services, as it reflects Onafriq’s commitment to driving Africa’s digital transformation agenda by investing in technologies that make financial services more efficient, connected and accessible.
It was gathered that Onafriq selected Privy for its enterprise-grade infrastructure to enable the seamless integration of digital asset wallet capabilities into its products, subject to regulatory approval, and deliver a simple user experience while abstracting the complexity of blockchain technology.
“At Onafriq, we keep investing in technology that makes payments faster and more accessible. Privy gives us a building block for faster settlement and better liquidity management. As demand for digital asset services grows, our goal is to ensure Africa’s payment ecosystem benefits securely and in line with regulatory frameworks,” the Group Chief Product and Innovation Officer at Onafriq,” Mr Luke Kyohere, said.
The chief executive of Privy, Mr Henri Stern, said, “Stablecoins will play an increasingly important role in the future of global payments, but real-world adoption depends on infrastructure that is secure, scalable and simple to implement. Working with Onafriq allows us to help build that foundation across Africa and beyond.”
