EFCC Arrests Former Kwara Governor Abdulfatah Ahmed

Image

By Modupe Gbadeyanka

The former Governor of Kwara State, Mr Abdulfatah Ahmed, has been arrested by the Economic and Financial Crimes Commission (EFCC).

Mr Ahmed, who was the Governor of the state from 2011 to 2019, was apprehended by the anti-money laundering agency in Nigeria on Monday.

According to reports, the former Governor, who is a chieftain of the opposition Peoples’ Democratic Party (PDP), is being investigated over allegations of diversion of funds belonging to the state government to the tune of N9 billion.

It was gathered that the EFCC is looking into how Mr Ahmed handled the funds of the north-central state of the federation when he was Governor as well as the Commissioner for Finance under former Governor of Kwara State and Senate President, Mr Bukola Saraki.

He is presently telling the agency what he knows about the allegations against at its headquarters in Abuja, the nation’s capital. However, it is not certain when he would be released.

More details later.

Share
Related Stories
Image
14-February-2024

NBA Rejects ETIP Deal Allowing UK Lawyers to Practice in Nigeria

By Adedapo Adesanya The Nigerian Bar Association (NBA) has condemned the agreement signed by Nigeria and the United Kingdom that allows British attorneys to practice in Nigeria. In a fiery response late on Tuesday night, the NBA President, Mr Yakubu Maikyau (SAN), said that the association was not consulted before such a step was taken. Recall that Nigeria on Tuesday signed the Enhanced Trade and Investment Partnership (ETIP) with the UK to boost trade and investment between the two countries and unlock new opportunities for businesses in both countries in areas including energy, education, legal, and financial services. The new

Image
20-February-2024

EFCC to Arraign Six for Selling New Naira Notes

By Modupe Gbadeyanka About six persons have been arrested by operatives of the Economic and Financial Crimes Commission (EFCC) in Lagos for allegedly selling new Naira notes to customers. A statement from the agency said the suspects would be arranged in court on the conclusion of an ongoing investigation. The EFCC said the accused persons apprehended for their alleged involvement in currency racketeering and the sale of new naira notes for commercial purposes are Adebayo Amupitan, Alimat Oyebode, Isiaka Yusuf, Adeoti Folake, Kafayat Yakub, and Bose Lateef. It stated that they were picked up at various locations in Lagos, between

Image
20-February-2024

Group Urges Tinubu, NNPC, Others to End Gas Flaring in Ubeji Community

By Modupe Gbadeyanka President Bola Tinubu has been charged to put an end to gas flaring in Ubeji, a community in the Warri South Local Government Area of Delta State. This call was made by a group of Non-Governmental Organisations (NGOs) and media professionals comprising the Social and Economic Justice Advocacy (SEJA), Web of Support Youth Development Program Nigeria, and Advisors Reports.Com. In a statement on Tuesday in Lagos, the consortium also appealed to the Nigerian National Petroleum Company (NNPC) Limited to do everything within its power to save the inhabitants of the sleepy satellite community located around the Warri

More Stories
Image
25-November-2016

Obasanjo Most Corrupt Nigerian—Reps

By Dipo Olowookere Former President Olusegun Obasanjo has been described as the “most corrupt” Nigerian on the record. This was the view of the House of Representatives, which released a statement on Thursday in reaction to comments made by the ex-Nigerian leader, describing the National Assembly as a corruption striken entity. Obasanjo made the remarks at the Akintola Williams Lecure held in Lagos on Wednesday. He said the National Assembly was “a den of corruption” controlled by “a gang of unarmed robbers.” But the House, reacting through its spokesman, said “it is unfortunate that he has started his very familiar

Image
28-May-2021

Nigeria to Save $580m from Cassava by-products Imports

By Aduragbemi Omiyale The Central Bank of Nigeria (CBN) has said it was taking steps to help the country save about $580 million spent annually to import cassava by-products. The Governor of the CBN, Mr Emefiele, said this on Thursday at the commissioning of the Rivers Cassava Processing Company. The integrated facility was established by the Rivers State Government in collaboration with Shell Petroleum Development Corporation, the Dutch Embassy Investment Nigeria Limited and their technical partners. The Rivers Cassava Processing Company was designed to support improved production and processing of cassava into high-quality flour in the state. Speaking at the

Image
09-December-2022

Naira Crashes at Spot Market, Parallel Market, P2P

By Adedapo Adesanya The Naira had a bad outing against the United States Dollar at the various segments of the foreign exchange (forex) market on Thursday, as the new policy of the Central Bank of Nigeria (CBN) is gradually having a negative effect on the ecosystem. Business Post reports that the value of the Nigerian currency paired with its American currency depreciated yesterday at the parallel market, the Peer-to-Peer (P2P), and the Investors and Exporters (I&E) windows. In the P2P forex window, the value of the Nigerian currency slid against the greenback by N10 to trade at N761/$1 compared with

Image
27-November-2016

Ondo Will Develop Under Akeredolu—Saraki

By Dipo Olowookere Senate President, Mr Bukola Saraki, on Sunday, congratulated the governor-elect of Ondo State, Mr Rotimi Akeredolu, over his victory in the Saturday governorship election in the state. Mr Saraki, in a statement by his Special Adviser on Media and Publicity said Mr Akeredolu’s victory did not come to him as surprise going by his excellent credentials and years of preparedness for the business of governance. He urged him to be magnanimous in victory by ensuring that he works with all relevant stakeholders in the arduous task of moving the Sunshine State to the next level. He specifically

Image
03-August-2022

Akeem Lawal to Discuss Growth Opportunities for Banks, Telcos, Fintechs

By Aduragbemi Omiyale The Managing Director of Interswitch Purepay, Mr Akeem Lawal, will be among the experts billed to speak on Wednesday, August 3, 2022, at the Nigeria Fintech Forum 2022. The event, which takes place in Lagos, will offer Mr Lawal the avenue to discuss issues surrounding ways telecommunication companies, financial technology (fintech) organisations and banks can work together for the growth of the financial system. There have been talks about how fintechs are a big threat to banks because of the disruption they have caused in the ecosystem, but some stakeholders see the trio as partners in progress.

Image
29-August-2023

KPMG Lowers Nigeria’s Economic Growth Forecast to 2.65%

By Adedapo Adesanya The local subsidiary of the global consultancy firm, KPMG Nigeria, has cut down its forecast for Nigeria’s economic growth rate for this year. In its Flashnotes for August 2023, the firm now put Nigeria’s expected growth at 2.65 per cent, in contrast to an initial forecast of 2.85 per cent, the consultancy said in its latest commentary. This came as the National Bureau of Statistics (NBS) released the country’s GDP for the three months through June (Q2 2023). In the KPMG report signed by its chief economist (a former head of the NBS), Mr Yemi Kale, the

Image
25-February-2017

Magic of Samsung Wind-Free Air Conditioner

By Modupe Gbadeyanka Samsung’s (www.Samsung.com) award-winning Wind-Free™ wall-mounted air conditioner is the ideal appliance for overcoming Africa’s traditionally warm and humid climate. The new AR9500M air conditioner has Samsung’s exclusive Wind-Free™ Cooling technology integrated into its design, which enables customers to obtain both a cooler indoor climate and optimal energy efficiency, without having to experience uncomfortable direct airflow. “The cool and efficient air conditioning capabilities of the AR9500M are ideal for tackling the African heat, while at the same time optimising your electricity bills. Moreover, the appliance eliminates the usual discomfort associated with air-conditioners, that of having cold wind blowing

Image
31-March-2020

7 Ways to Protect Yourself from Inflation

By Ellie Richards Recently, the entire world has been affected by the wave of inflation. From the United States to Australia, every part of the world has witnessed the ballooning inflation. Whether it is a rise in the prices of daily commodities or an increase in property rates, the effects of inflation could be seen in every single sector. While inflation affects the entire economy of a nation at a larger extent, its effects can also be observed in the daily lives of the common people. As the prices of goods and services rise, the amount of money spent earlier

Ad
Ad
Recent Stories
Image
21-February-2024

AFC to Pump $40m Into African Medical Centre of Excellence Abuja

By Adedapo Adesanya  African instrumental infrastructure solutions provider, Africa Finance Corporation (AFC), has signed an equity investment term sheet, pledging up to $40 million towards the construction of an Abuja-based hospital, the African Medical Centre of Excellence (AMCE). The quaternary-level multi-specialty medical institution developed by the African Export-Import Bank (Afreximbank) in collaboration with King’s College Hospital, London, aims to revolutionise healthcare in Africa. Hospitals across West Africa struggle with funding, lack of essential resources, and limited access in rural areas. This flagship facility in Abuja is a key part of Afreximbank’s network of healthcare facilities, actively countering brain drain, reducing

Image
21-February-2024

Oyo Reopens Shri-Balaji After Closure Over Pollution

By Aduragbemi Omiyale The industrial company sealed earlier this month nonconformity and adherence to environmental laws of Oyo State, Shri-Balaji Industries Limited, has been reopened. The facility was unsealed on Wednesday on the directive of the Commissioner for Environment and Natural Resource, Mr Abdulmojeed Mogbonjubola. The company, which engages in the recycling of waste tyres to produce Pyrolysis oil and carbon black and steel wire as by-products, was closed by the state government to protect the lives of residents of the area. A statement made available to Business Post disclosed that for it to be reopened, Shri-Balaji paid a fine

Image
21-February-2024

FG to Restructure, Recapitalise Bank of Agriculture for Better Value

By Adedapo Adesanya The federal government has revealed plans to recapitalise and restructure the Bank of Agriculture (BOA) to bolster Nigeria’s agricultural sector and achieve national food security. This was one of the core revelations made by the Vice President, Mr Kashim Shettima, during the first meeting of the National Council on Privatisation (NCP) for the year 2024 at the Presidential Villa, Abuja on Tuesday. He said there is a central role that BOA could play in achieving national food security, citing its extensive branch network across all senatorial districts in the country. Mr Shettima, however, expressed concern about the

Image
21-February-2024

Foundation Urges Nigerians to Adopt Waste Management Hierarchy

By Aduragbemi Omiyale A recycling organisation, Turn Plastic Recycling Foundation, has encouraged Nigerians to embrace the waste management hierarchy to make the country a zero-waste society. The Project Manager for the firm, Mr Leo Nwofa, while giving a summary of the project journey in the past two years of the foundation, said to save the planet, people must adopt the system of proper waste disposal for recycling after use. The waste management hierarchy gives top priority to waste prevention, followed by reuse, recycling, recovery and finally disposal. Speaking at an event to mark the second anniversary of Turn Plastic Recycling

Image
21-February-2024

Peter Obi Fumes as CBN Hikes Cargo Clearing Rate to N1,605/$1

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has once again increased the exchange rate for customs cargo clearance by 9 per cent or N133.06 from N1,472.76/$1 to N1,605.82/$1. The new rate, which has already been reflected on the Nigeria Customs Service (NCS) portal, will further dampen the hope of importers, and trigger an increase in the price of imported products like food, fuel, spare parts, and phones, among others. The CBN had recently reduced the exchange rate from N1,515.48/$1 to N1,472.756/$1 after the market eased following some recent policy steps. This review will be the 12th since the

Image
21-February-2024

Panic at Black Market as EFCC Intensifies Clampdown on BDCs

By Dipo Olowookere There is apprehension at the black market segment of the foreign exchange (FX) market in Lagos and other cities across the country as security officials, especially from the Economic and Financial Crimes Commission (EFCC), are going after traders at the landscape. Recall that on Monday, some agents of the organisation disrupted business activities in Abuja, and on Tuesday, a similar scenario occurred at the popular Alade Market in Lagos. On Wednesday, Business Post gathered that more places were touched, with two of the Bureaux De Change (BDC) operators allegedly picked up by security operatives in the Agege

Image
21-February-2024

VFD Group Donates Books to Comenius Nursery and Primary School

By Modupe Gbadeyanka About 1,000 copies of Mama’s Sleeping Scarf by renowned Nigerian writer, Ms Chimamanda Ngozi Adichie, have been donated to the pupils of Comenius Nursery and Primary School in the Ikola area of Lagos State. The educational items were given to the elementary school by a leading proprietary investment company, VFD Group Plc, as part of its Corporate Social Responsibility (CSR) initiative. The firm, which is committed to fostering growth across diverse industries in Africa, said the books were donated to promote reading culture among children and inspire young minds to explore limitless possibilities. Mama’s Sleeping Scarf is

Image
21-February-2024

DSS Warns Organised Labour To Shun Planned Protest

By Adedapo Adesanya The Department of State Services (DSS) has urged Nigerians planning to protest next week led by organised labour to halt the idea. According to a statement from the spokesperson of the Nigerian secret police on Wednesday, Mr Peter Afunanya, there were plans by sections of the organised labour to stage protests in parts of the country over sundry economic issues between February 27 and 28, 2024 “While the Service recognises such action as the legitimate right of the labour movement, it, however, urges the body to shelve the plan in the interest of peace and public order,”

Image
21-February-2024

FG Completes $70m Yearly Concessionaire of Zungeru Plant to Penstock

By Adedapo Adesanya The federal government has completed the transfer of the operations of the Zungeru Hydroelectric Power Plant (ZHPP) to a concessionaire, Penstock Limited, in a move that will see the country earn $70 million yearly from the deal. The Vice President, Mr Kashim Shettima, confirmed this during the first meeting of the National Council on Privatisation (NCP) for the year 2024 at the Presidential Villa, Abuja on Tuesday. A concession is a kind of partnership between the public sector and often private companies that have shown its added value in a specific area, for example developing infrastructure. The

Image
21-February-2024

Rita Alakija’s Team Wins Coronation Group’s Lagos Polo Silver Cup Tourney

By Adedapo Adesanya African financial services provider, Coronation Group Limited, successfully concluded the highly anticipated Coronation Silver Cup final on Sunday, February 18 at the prestigious Lagos Polo Club in Ikoyi. The final match of this esteemed tournament was marked by the presence of distinguished guests, thrilling gameplay, and a celebration of sporting excellence. Special guests in attendance included President Tinubu’s Special Adviser on Industry, Trade and Investment, Mr John Uwajumogu, and Mr Abdul Samad Rabiu, Chairman/Founder, BUA Cement Plc. among others. The presence of these industry titans added to the excitement of the event and underscored the significance of