General
Court to Rule on Continuation of Emefiele’s Case Wednesday
By Adedapo Adesanya
The embattled former Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, who is standing trial on a 19-count bordering on receiving gratification and corrupt demand, will know whether or not his case will continue on Wednesday, February 26.
A Special Offences Court sitting in Ikeja, Lagos under Justice Rahman Oshodi adjourned for ruling after Mr Emefiele’s counsel, Mr Olalekan Ojo (SAN), asked the judge to recuse himself from the trial, citing bias.
Another Senior Advocate of Nigeria, Mr Kazeem Gbadamosi representing Mr Emefiele’s co-defendant, Mr Henry Omoile, also made a similar request.
Mr Emefiele is being tried by the Economic and Financial Crimes Commission (EFCC) for the charges alongside his co-defendant, Mr Omoile, who is facing a three-count charge bordering on unlawful acceptance of gifts by agents.
At the proceedings on Monday, the EFCC lead counsel, Mr Rotimi Oyedepo (SAN), concluded the evidence-in-chief of a former personal assistant to the CBN governor, Mr Adetola John.
Mr Oyedepo reminded the witness of his earlier testimony in November 2024, where he stated that he received the sum of $400,000 cash from the former director of the ICT Department, Mr John Ayoh, and handed it over to Mr Emefiele in his office.
The witness, Mr Adetola, at the time, had also said that he managed office correspondence and visitors of the former CBN governor in Lagos while one Mr Eric Odoh, the personal assistant to the CBN governor in Abuja did the same in the FCT office of the CBN.
Mr Oyedepo also asked the witness to confirm a WhatsApp message from Mr Odoh which was printed from his phone by the EFCC investigators.
The defence team objected to this line of questioning on the grounds that the document was solely meant for identification and was not an exhibit before the court. They also argued that the witness could not read or speak into the document.
Justice Oshodi overruled the defence team and allowed the witness to read from the document marked for identification.
The judge cited Section 224 of the Evidence Act, which permits leading questions concerning introductory facts or undisputed matters
After this procedure, the lead defence counsel, Mr Ojo, expressed dissatisfaction with the court’s decision. Rather than commence their cross-examination of the witness, through oral applications, they unanimously asked the court to recuse itself on the allegation of bias.
Mr Ojo argued that by the judge’s ruling, the court‘s decision was that the witness had already proven that the $400,000 collected by Mr Adetola was delivered.
He also contended that this premature conclusion made it impossible for the defence to cross-examine the witness fairly.
He, then, requested that Justice Oshodi recuse himself from further hearings.
In his response, the EFCC counsel, Mr Oyedepo opposed their applications, saying it is a form of delay tactics.
Justice Oshodi adjourned till February 26 to rule on the submissions.
Earlier in the proceedings, Emefiele’s counsel had informed the judge of another application seeking permission to allow the former CBN governor to appeal the court’s ruling delivered on January 8, 2025, assuming jurisdiction to hear the case.
By Adedapo Adesanya
The Nigeria–China Strategic Partnership (NCSP) recently hosted a high-level delegation from Newryton International Industrial Development Company Limited, a leading Chinese investment and industrial development consortium, to advance discussions on deepening bilateral trade, industrial cooperation, and development financing between both countries.
The Newryton delegation, led by Mr David Chen, Assistant Secretary-General of the China Hainan Investment Council, had earlier engaged with the Nigerian Association of Commerce, Industry, Mines and Agriculture (NACCIMA). They were accompanied to the NCSP by Mr Joe Onyuike, Vice-Chairman of NACCIMA’s Agriculture and Livestock Trade Group, who conveyed NACCIMA’s support for the delegation’s engagements.
Discussions centered on the establishment of a Nigeria–China Trade and Investment Platform, including a proposed Promotion Centre in China to support Nigerian products, investors, and state governments.
The consortium also presented opportunities within Hainan Province’s Free Trade Port (FTP), which offers preferential policies that Nigerian businesses can leverage to expand exports and attract new investments.
In his address on behalf of Newryton, Mr Pong outlined plans to collaborate with NCSP in accessing FOCAC-supported financing for strategic investments in agriculture, energy, mining, solid minerals processing, and related sectors. The delegation identified aquaculture as a key area of interest and referenced the forthcoming Global Aquaculture Conference in Hainan Province, encouraging Nigerian stakeholders to participate.
They also expressed readiness to strengthen cooperation in vocational training and employment under the Belt and Road Initiative (BRI).
Welcoming the delegation on behalf of the Director-General, Martins Olajide, NCSP’s Head of Internal Operations, reaffirmed the organisation’s commitment to fostering mutually beneficial partnerships.
He highlighted NCSP’s strong interest in the proposed Nigeria–China Trade and Investment Platform and the development of the Nigerian Oil Palm Industrial Park as a flagship demonstration project.
Also speaking at the meeting, Ms Judy Melifonwu, NCSP’s Head of International Relations, underscored the opportunities presented by China’s zero-tariff policy and the forthcoming NAQS–GACC protocol on the export of Nigerian aquaculture products. She noted that these frameworks would significantly enhance Nigeria’s competitiveness in emerging global markets.
Both parties expressed commitment to advancing discussions toward a structured cooperation framework covering all priority areas.
By Adedapo Adesanya
The United Kingdom–Nigeria Infrastructure Advisory Facility (UKNIAF), established in 2019 as part of a 16-year legacy of UK-funded infrastructure support to Nigeria, convened over 100 senior stakeholders on Tuesday, December 2, to review its progress and formally close out its current phase of operations.
The event brought together representatives from federal and state governments, development partners, development finance institutions, and the private sector to reflect on UKNIAF’s work across the power, infrastructure finance, and roads sectors. Discussions focused on institutional reforms, capacity development, and the sustainability of tools and processes introduced over the past six years.
Since inception, UKNIAF has delivered targeted technical assistance designed to embed evidence-based reforms, data-driven decision-making, and improved institutional performance. Its interventions have mobilised significant financing, strengthened regulatory and planning systems, and enhanced investor readiness across multiple infrastructure markets.
In the power sector, participants highlighted landmark achievements including the development of Nigeria’s first Integrated Resource Plan, which outlines a least-cost and low-carbon pathway for expanding electricity supply. UKNIAF also supported the Nigerian Electricity Regulatory Commission (NERC) in building advanced real-time data capabilities for tariff monitoring, grid management, and outage tracking. The programme enabled pioneering states to establish their own electricity markets following constitutional reforms.
In infrastructure finance, UKNIAF was recognised for strengthening project preparation systems and enabling access to capital. Notable accomplishments include supporting the mobilisation of $75 million from the African Development Bank to the Special Agro-Industrial Processing Zone (SAPZ) programme in two states, and accelerating mini-grid and solar deployment through improved technical standards at the Rural Electrification Agency (REA).
UKNIAF also designed a national project preparation facility, for which N21 billion was allocated in both the 2024 and 2025 budgets to build a pipeline of bankable projects.
Speaking on this, Mr Frank Edozie, UKNIAF Team Lead, described the programme’s close-out as a “handover for sustained delivery,” emphasising that strengthened institutions now hold tools that make Nigeria’s infrastructure landscape more transparent, climate-smart, and investor-ready.
On his part, the Minister of Power, Mr Adebayo Adelabu, commended the programme, noting that its technical assistance and advisory services had helped lay the foundation for a sustainable and inclusive electricity supply industry.
Mrs Cynthia Rowe, Head of Development Corporation at the UK Foreign, Commonwealth and Development Office (FCDO) in Nigeria, praised the partnership, highlighting achievements ranging from state-level electricity market reforms to unlocking major financing and designing Nigeria’s Climate Change Fund.
Enugu State Secretary to the State Government, Professor Chidiebere Onyia, underscored the lasting influence of the programme, stating that UKNIAF’s impact continues through the expertise and leadership transferred to national and sub-national institutions.
The close-out event reaffirmed stakeholders’ commitment to sustaining tools, reforms, and knowledge products developed under UKNIAF, while strengthening collaboration among public, private, and development actors in the infrastructure ecosystem.
Participants included federal and state agencies such as the Nigeria Governors’ Forum, Federal Ministry of Power, Ministry of Finance, NERC, REA, and the Transmission Company of Nigeria, alongside development partners including the African Development Bank, World Bank, and IFC, as well as private sector and civil society stakeholders.
By Aduragbemi Omiyale
The gantry price of Premium Motor Spirit (PMS), otherwise known as petrol, has been slashed by the Dangote Petroleum Refinery.
The Lagos-based oil facility brought down the ex-depot price of the petroleum product by 15.58 per cent or N129 per litre to N828 per litre.
Though the company had yet to release an official statement on this development, real-time market data on Petroleumprice.ng on Friday showed the new price.
Punch reports that data from the platform also showed fresh reductions across several private depots following the refinery’s latest review.
Sigmund Depot cut its ex-depot price by N4 to N824 per litre, Bulk Strategic dropped its price by N3, and TechnoOil slashed its by N15.
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