By Adedapo Adesanya

A Federal High Court has sentenced former Minister of Power, Mr Saleh Mamman, to 75 years in prison over the diversion of N33.8 billion meant for the Zungeru and Mambilla hydroelectric power projects.

Mr Mamman, who served as Minister of Power from August 2019 to July 2021, was accused of overseeing the alleged diversion of funds during his tenure.

The Economic and Financial Crimes Commission (EFCC) said he diverted the funds using some ministry officials, private companies, and Bureau de Change (BDC) operators.

He was also reported to have purchased the Taraba State governorship forms under the All Progressives Congress (APC), while separately facing another case at the FCT High Court in Maitama, where he is accused of diverting N31 billion meant for the Mambilla Power Project.

Delivering the judgment today, Justice Omotosho sentenced Mr Mamman, who is on the run and was absent at the last court sitting, on each count and ordered that the sentences run consecutively, bringing the total to 75 years.

The court also ruled that the sentence will begin to run from the day the convict is arrested, and ordered all security agencies, including Interpol, to apprehend him wherever he is found.

Monies recovered, along with forfeited properties, are to be remitted to the Federal Government, while the convict is also ordered to pay the outstanding balance of ₦22 billion tied to the affected hydroelectric power projects.

He was removed from office by the late president in 2021 and arrested by the anti-money laundering organisation four months after. He was said to have used embezzled funds of up to N33.8 billion to acquire properties.

Last week, the judge confirmed that Mr Mamman made a cash payment of $655,700 (equivalent to N200 million) for landed property in Abuja, without recourse to a financial institution.

He was also found guilty of criminal breach of trust in relation to funds released by the federal government for the Mambilla and Zungeru Hydroelectric Power Plant projects.

By Adedapo Adesanya

The National Insurance Commission (NAICOM) has said it will ensure full implementation of the Nigerian Insurance Industry Reform Act (NIIRA 2025) as well as protect the interests of the insured public from fraudulent activities of fake insurance institutions.

To this end, the commission said it is currently collaborating with the Nigerian Police Force as well as engaging members of the Association of Registered Insurance Agents (ARIAN) to ensure implementation of the Act.

Recently, the Commissioner for Insurance, Mr Olusegun Ayo Omosehin, met with the Inspector General of Police (IGP), Mr Olatunji Disu, to discuss strategies for deepening collaboration on the implementation of the NIIRA 2025 and its accompanying reforms.

Speaking during the meeting, the insurance commissioner Omosehin, pointed out that NIIRA 2025 was enacted to modernise Nigeria’s insurance landscape, promote transparency, and safeguard the interests of millions of Nigerians who rely on insurance for financial security.

He stressed that NAICOM could not achieve full compliance and market discipline without the active support of law enforcement agencies.

In his response, Mr Disu reaffirmed the commitment of the police to partner with NAICOM, promising to provide the necessary operational and legal backing to ensure that offenders were brought to justice and policyholders’ rights fully protected.

In a related development, NAICOM and ARIAN recently agreed to strengthen collaboration to enforce NIIRA 2025 and Protect Insurance Consumers.

NAICOM at the meeting reaffirmed its commitment to strengthening the enforcement of the NIIRA 2025 framework and protecting Nigerian insurance consumers from unauthorised and predatory practices, through strategic engagement with ARIAN.

Signed into law on August 5, 2025, the Nigeria Insurance Industry Reform Act (NIIRA) 2025 fundamentally overhauls the sector to strengthen financial stability, increase penetration, and align with international standards, replacing the 2003 Insurance Act.

Key reforms include higher risk-based capital requirements, mandatory digitisation, enhanced policyholder protection, and strict enforcement of compulsory insurance.

By Adedapo Adesanya

The Nigerian Shippers’ Council (NSC) saved over N348.8 million for port users and resolved 19 complaints in the first quarter of 2026.

According to its sectoral data report from the council’s quarterly newsletter, which covered January to March 2026, the agency’s continued intervention in disputes within the maritime sector is aimed at reducing trade frictions and protecting shippers from unfair practices.

A breakdown of the complaint status shows that, out of 32 cases handled during the period, 19 were successfully resolved, 12 are still ongoing, and one has been closed.

In terms of financial impact, the NSC’s dispute resolution efforts led to a total savings of N348,813,072.06 for stakeholders, particularly importers, exporters, freight forwarders, and shipping agents.

Further analysis of the report indicates that shipping companies and their agents accounted for the highest number of complaints, with 22 cases filed against them.

“Other entities complained against include seaport terminal operators (1), government agencies (3), exporters (1), importers (1), de-consolidators (1), and freight forwarders/clearing agents (3).

“The complaints lodged during the period cut across a wide range of operational and financial issues. Prominent among them were container deposit refund disputes, which recorded the highest frequency with five cases, followed by arbitrary charges (4).

Other issues included unsettled demurrage (2), missing cargo (2), service failure (2), damaged cargo (2), wrong port of discharge (2), and non-release of auction cargo (2).

“Additional complaints involved delays in cargo transfer, breach of trust, invoice cancellation, lack of telex release, delay in releasing export documents, export fraud, waiver-related disputes, demurrage and detention of vessels, breach of contract, and unjustified demurrage charges,” the data report stated.

The data also reveals that the majority of complainants were shippers, including importers and exporters, alongside freight forwarders and shipping agents, reflecting the operational challenges faced by key players in Nigeria’s port value chain.

The NSC, as the port economic regulator, noted that it has consistently leveraged its complaints and dispute resolution mechanism to address grievances and ensure fairness in commercial transactions within the maritime industry.