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EFCC Rejects N13.1bn Bid for Forfeited Ikoyi Property

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By Aduragbemi Omiyale

The N13.1 billion bid for the 24 units of luxury flats at Banana Island, Ikoyi, Lagos, has been rejected by the Economic and Financial Crimes Commission (EFCC).

In late December, the EFCC commenced the auctioning of some forfeited properties in some cities of the country.

It started in Lagos and others before moving to Abuja.

At the exercise in Abuja yesterday, one of the bidders offered N13.1 billion for the forfeited Ikoyi property, which is to be sold as a single unit, but the anti-money laundering organisation rejected the offer.

In a statement issued on Monday, the commission explained that the bid was thrown away because the bidder failed “to include the stipulated 10 per cent of the bid amount.”

The agency disclosed that other bidders did not make the reserve price, forcing the Secretary to the EFCC, Mr George Ekpungu, to announce that the commission will open fresh bids for the properties in Lot 1, which also includes the Ikoyi property.

“The bids will close by 12 pm on Friday, January 13, 2023, while the bid opening will be done the same day,” the statement said, adding that the auctioning is via “sealed bids.”

It was learned that the bids for items in Lots 2 and 3 were also not successful in Abuja yesterday, forcing invitation for fresh bids until Wednesday, January 11, 2023, and the opening of offers on Thursday, January 12, 2023.

Speaking earlier, while declaring the exercise open, Mr Ekpungu explained that the EFCC adopted the format of competitive bidding to ensure accountability and ensure that the government gets the right value for the assets.

He further disclosed that occupants of the properties for sale have the Right of First Refusal, assuring that the agency will block attempts by former owners of the forfeited properties to repurchase the assets by proxy.

“If you have information about any bid by owners of the assets, please let the commission know, and we will take appropriate action, including possible prosecution,” he declared.

Mr Ekpungu praised the EFCC Chairman, Mr Abdulrasheed Bawa, for taking the bull by the horn in ensuring that those who have stolen the wealth of the country were denied the proceeds of crime and the assets disposed of for the benefit of all Nigerians.

On his part, the Director of Public Affairs of the EFCC, Mr Osita Nwajah, read out the guidelines for the sale, which among others, forbids staff of the commission and persons who have or are being prosecuted in respect of the assets from participating in the process.

He also disclosed that before any bid can be successful, it must be equal to or be above the reserve price, while each bidder was expected to enclose a bank draft for 10 per cent of the bid amount.

According to him, successful bidders have 15 working days from the bid opening to make full payment, as failure to do so will give the second highest bidder to have the asset.

The assets are grouped into nine lots, with Monday’s sale restricted to lots 1, 2 and 3. The sale of properties in the other lots will continue until the final lot is disposed of on Friday, December 13, 2023.

Proceeds from the sale of the assets will be paid into the Confiscated and Forfeited Properties Account at the Central Bank of Nigeria in line with Section 69(a) of the Proceeds of Crime ( Recovery and Management) Act, 2023.

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Tinubu Confirms Killing of Abu-Bilal Al-Manuki by Nigerian, US Forces

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Tinubu kill Abu-Bilal Al-Manuki

By Modupe Gbadeyanka

President Bola Tinubu on Saturday confirmed the killing of a senior ISIS leader, Mr Abu-Bilal Al-Manuki, in an overnight operation carried out by the United States and Nigeria.

President Donald Trump had earlier announced the elimination of the notorious terrorist via a post on his Truth Social.

Later, in a statement today, Mr Tinubu praised the action, describing it as “a significant example of effective collaboration in the fight against terrorism.”

“Our determined Nigerian Armed Forces, working closely with the Armed Forces of the United States, conducted a daring joint operation that dealt a heavy blow to the ranks of the Islamic State,” he said in the statement.

According to him, early assessments confirm the elimination of the wanted IS senior leader, Abu-Bilal Al-Manuki, also known as Abu-Mainok, along with several of his lieutenants, during a strike on his compound in the Lake Chad Basin.

He commended the partnership between Nigeria and America in waging war against terrorists, thanking his US counterpart “for his leadership and unwavering support in this effort.”

“I commend the personnel involved on both sides for their professionalism and courage, and I look forward to more decisive strikes against all terrorist enclaves across the nation,” the Nigerian leader added.

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Nigeria Steps up AI Surveillance, Anti-Drone Systems for National Security

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By Adedapo Adesanya

Nigeria is set to strengthen its defence architecture by deploying artificial intelligence-powered surveillance systems and advanced anti-drone technology as part of efforts to modernise the country’s military capabilities, according to the Minister of Defence, Mr Christopher Musa.

He disclosed this during a high-level visit to Monaco, where he led a Nigerian delegation to conclude discussions on the multi-domain Hybrid Intelligence Shield (HIS) project.

According to Mr Musa, the initiative is designed to enhance border security, protect urban centres and improve the country’s response to emerging security threats.

The project is expected to introduce AI-driven surveillance systems capable of identifying threats rapidly through smart algorithms, while anti-drone technology will be deployed to intercept and neutralise unmanned aerial threats.

The government also plans to establish national and regional command-and-control centres to improve real-time coordination and response to security incidents across the country.

Mr Musa said the initiative would place strong emphasis on technology transfer and local capacity development through the establishment of a military Centre of Excellence in Nigeria.

He added that the federal government would leverage partnerships with international firms, including Marss UK Ltd, while simultaneously building indigenous capabilities to address insurgency, illegal mining, piracy and other security threats.

Nigeria has continued to battle multiple security challenges in recent years, including insurgency in the North-East, banditry and kidnappings in the North-West, farmer-herder clashes in the North-Central region, crude oil theft in the Niger Delta and piracy in the Gulf of Guinea.

Nigeria is stepping up its defence as the border region of Nigeria, Benin and Niger on the southern edge of the Sahel region is becoming a new stronghold for jihadists, as militants turn forests and pastoral networks in West Africa into bases for recruitment and international attacks.

Attacks in Nigeria have also risen, with data from the website of the Armed Conflict Location & Event Data (ACLED), a conflict-monitoring group, affirming that the number of suicide bombings in Nigeria by March already matched the annual average over the past six years.

The Nigerian military has also been dealt a blow to its military bases and senior figures targeted. In April, Brigadier-General Oseni Omoh Braimah was killed when Islamist fighters attacked a base in Borno State.

To also meet the defence goal, Nigeria is stepping up efforts to build domestic arms-manufacturing capacity.

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Nigeria, Morocco to Seal Atlantic Gas Pipeline Deal by Q4 2026

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By Adedapo Adesanya

Nigeria and Morocco are set to sign a major intergovernmental agreement later this year to push forward the long-delayed Nigeria-Morocco Gas Pipeline project, a multi-billion-dollar energy corridor expected to reshape gas trade across West Africa and Europe.

The agreement, expected to be signed in the fourth quarter of 2026 by President Bola Tinubu and King Mohammed VI of Morocco, follows the completion of preliminary technical studies for the ambitious project, according to officials from both countries.

The pipeline, also known as the African Atlantic Gas Pipeline, is projected to stretch about 6,900 kilometres along offshore and onshore routes across West Africa, making it one of the largest gas infrastructure projects on the continent.

With an estimated cost of $25 billion, the pipeline is designed to transport up to 30 billion cubic metres of gas annually once completed.

Discussions on the project gained fresh momentum during a telephone conversation between Nigeria’s Minister of Foreign Affairs, Mr Bianca Odumegwu-Ojukwu, and her Moroccan counterpart, Mr Nasser Bourita.

The project would not only strengthen energy cooperation between the two countries but also improve regional economic integration and expand Africa’s access to European energy markets.

According to Morocco’s hydrocarbons and mining agency, ONHYM, part of the gas supply will support Morocco’s domestic energy demand, while large export volumes will be directed to Europe.

The project, first proposed about a decade ago, is seen as a strategic alternative gas supply route amid rising global energy security concerns and Europe’s search for more diversified energy sources.

Beyond the pipeline, Nigeria and Morocco are also exploring broader economic partnerships, particularly in fertiliser production and distribution to support food security across Africa.

Both countries also agreed on the need to revive the Nigeria-Morocco Business Council to strengthen trade and investment relations under the African Continental Free Trade Area framework.

Analysts noted that the project could significantly boost gas monetisation opportunities for Nigeria, expand regional infrastructure development, and deepen economic ties between West African nations and Europe if successfully executed.

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