General
EFCC Tackles Agbakoba Over Power to Probe States Finances
By Modupe Gbadeyanka
The Economic and Financial Crimes Commission (EFCC) has reacted to comments made by a senior lawyer, Mr Olisa Agbakoba, over the agency’s investigation into the finances of the Kogi State government.
In a statement issued on Monday, the commission said it never violated any law to beam its searchlight on how the state government has been spending public funds.
According to Agbakoba, EFCC not only disregards the rule of law but has no business inquiring into how the Kogi State Government spends its funds.
But the EFCC said it takes great exception at the “indecorous and utterly irresponsible attempt by Agbakoba to dress it in the borrowed garb of a lawless entity and a meddlesome interloper, who has no business probing the stealing of Kogi State resources.
“In all his tirades, no evidence was presented to support his claim that the EFCC has been lawless, nor did he mention any law which the commission’s investigation of the finances of the Kogi State Government violated.
“Instead, his refrain was to a non-extent decision of the Supreme Court which he also failed to electorate upon. But it is important to state that contrary to the views of Agbakoba, the Supreme Court at no time delivered any judgement which forbids the EFCC from investigating fraud cases involving a state government.
“The learned counsel ought to have known that the Apex Court of the land as far back as 2010 in JOLLY TEVORU NYAME V FRN (2010) 11 NWLR (PT.1193)344 held that the claim that the money belongs to
Taraba State and that the state has an exclusive claim on it to the exclusion of any other authority by virtue of section 120 of the 1999 constitution cannot stand.
“Furthermore, Agbakobas erroneous views ought to be tempered by the decision of the Supreme Court in A.G ONDO STATE v. A.G., FEDERATION (2002) 9 NWLR [pt.772] page 222 at page 308 where the court held: It has been pointed out that the provisions of the Act impinge on the cardinal principle of federalism, namely, the requirement of equality and autonomy of the state government and non-interference with the functions of state government. This is true, but as seen above, both the Federal and State governments share the power to legislate in order to abolish corruption and abuse of office. If this is a breach of the principle of Federalism, then, I am afraid, it is the Constitution that makes the provisions that have facilitated the breach of the principle. As far as the aberration is supported by the provision of the Constitution, I think it cannot rightly be argued that illegality has occurred by the failure of the Constitution to adhere to the cardinal principles which are at best ideals to follow or guidance for an ideal situation.
“Lastly, the learned silk should also know that his views are totally unsupported by the facts, circumstances of Kogi’s case and the decision of the Court of Appeal in KALU V FRN & (2012) LPELR- 9287 (CA), which decision knocked the bottom out of the contention of Agbakoba.
“From the decisions of the Appellate Court, it is clear that whilst the State Assemblies can investigate finances of their states, they are not empowered to investigate and prosecute fraud cases; that responsibility lies with agencies such as the EFCC.
“It is therefore morally reprehensible for a learned silk of Agbakoba’s calibre to promote the view that state governments cannot be questioned on how they use the resources of their states and that law enforcement organizations cannot investigate cases of alleged wanton theft of Kogi State’s resources particularly where the alleged thieves do not report themselves! Had this view been promoted by any other lawyer than Agbakoba, who rose to national prominence as an advocate of civil liberties and anti-corruption, it would have been pardonable.
“When men who are seen as the conscience of the nation begin to approbate and reprobate on an issue, it is almost certain they are driven by motives which could be far from altruistic.
“The manner in which Agbakoba delivered his message in the so-called media briefing, he sounded more like a spokesperson of the Kogi State Government than an advocate of the rule of law. By his demeanour, any citizen who thought the briefing was only a smokescreen to vilify the EFCC at the pleasure of the Kogi State Government would be forgiven.
“But Agbakoba is not counsel to the Kogi State government, at least not publicly. But even Kogi state lawyers, whom he offered his free counsel on how to handle the EFCC at the briefing, would not have put up a better performance. Despite not being counsel to the Kogi State Government, Agbakoba had no scruples using the media to pontificate on a matter that is currently before a court of competent justification. This, to him, does not amount to a media trial of the EFCC!
“In his game of ostrich, Agbakoba continually harped on Section 46 of the EFCC Act but ignored the provisions of Section 7 of the same Act and various provisions of the Money Laundering Prevention and Prohibition Act, the Advance Fee Fraud Other Fraud Related Offences Act, etc., which gives the commission power to investigate all fraud cases.
“Why is Agbakoba so jittery about the robust response of the EFCC to corruption that he would openly incite the next administration against the commission? That essentially was the agenda when he said: So the candidate (2023 election candidates) must tell us what they are going to do with all these agencies because we need to know if they are going to allow the EFCC to continue to engage in media trials and carry on as the attack dog of the federal government against other arms and levels of governments.
“Is the federal government of President Muhammadu Buhari against Yahaya Bello Administration of Kogi State? Where does Agbakoba get his logic of attack dogs? What is a media trial when a case has been filed in court, and the defendants have taken their pleas? Should Nigerians have been kept in the dark that a certain nephew of Yahaya Bello is facing a N10 billion fraud trial?
“EFCC is not averse to criticisms, but it will not ignore jaundiced views masked as advocacy for the rule of law. No amount of intimidation and sponsored attacks will deter the commission from investigating cases of corruption in any level of government or involving any individual, however well placed, until we rid our nation of this monster.”
By Adedapo Adesanya
The Nigeria Customs Service (NCS), in partnership with the Presidential Enabling Business Environment Council (PEBEC), has launched a strategic reform agenda aimed at enhancing port efficiency and strengthening Nigeria’s trade competitiveness.
The initiative was unveiled on Tuesday, April 7, 2026, at the opening of a three-day operational workshop in Apapa, Lagos, themed Customs Leadership in Port Efficiency, Inspection Reform and Clearance Timeline.
Speaking at the event, the Comptroller-General of Customs, Mr Adewale Adeniyi, outlined a five-pillar strategy designed to transform port operations. The framework focuses on joint inspections, risk-based cargo clearance, optimisation of scanning infrastructure, enforcement of service timelines, and improved inter-agency collaboration.
Mr Adeniyi emphasised that the Service is shifting from policy formulation to effective implementation, stressing the need for consistent execution of established best practices.
He noted that the “workshop was aimed at bridging the gap between knowledge and action within the system.”
He further highlighted the transition to intelligence-led cargo processing, stating that ongoing investments in digital platforms and scanning systems must result in faster, more transparent clearance procedures for traders.
To ensure accountability, the Customs boss disclosed that the workshop would produce a reform execution matrix subject to close monitoring, adding that he would personally track progress reports.
He also urged officers to uphold professionalism, integrity, and commitment in the discharge of their duties.
In her remarks, the Director-General of PEBEC, Mrs Zahrah Mustapha-Audu, underscored the importance of adopting risk-based, data-driven inspection systems.
According to her, efficient and transparent border processes are essential to reducing the cost of doing business and improving Nigeria’s global trade standing.
Also speaking, the Deputy Comptroller-General in charge of Tariff and Trade, Mrs Caroline Niagwan, said the evolving mandate of the Service places it at the heart of trade facilitation and economic growth, adding that efficiency must be reflected across all commands.
As part of the engagement, the Customs and PEBEC delegation visited the National Single Window facility, where they held discussions with the Chairman of the Nigeria Revenue Service, Mr Zacch Adedeji, and other stakeholders to review progress and address operational challenges.
By Adedapo Adesanya
Madica, a structured investment programme for pre-seed African startups, has announced new investments totalling $600,000 in three tech-enabled startups, including Nigerian data startup, Biovana.
According to the initiative, these investments further reinforce Madica’s commitment to supporting founders and startups often excluded from traditional venture funding. The other startups include Tanzania’s Kilimo Fresh and Kenya’s Hakimu.
Each company has secured up to $200,000 in funding and will take part in Madica’s 18-month programme. This includes a tailored curriculum, hands-on mentorship, executive coaching, and two fully funded immersion trips to key technology ecosystems, both locally and internationally. The startups will also gain access to Madica’s global investor network, helping position them for growth and long-term success.
Madica’s programme seeks to counter the concentration of Africa’s tech funding in a few markets, verticals, and well-networked entrepreneurs and instead drive more equitable growth across the continent. This is done by backing a mix of underrepresented founders, startups from underserved regions, and innovators in overlooked sectors.
Launched in 2022, Madica is a sector-agnostic investment program designed to address structural gaps in Africa’s startup ecosystem. The program tackles key challenges startups face, such as limited access to capital, a scarcity of investors, and insufficient mentorship. It also provides the structured support necessary for startups to resolve critical issues and foster innovation, entrepreneurship, and wealth creation across the continent.
Kilimo Fresh (Tanzania), co-founded by Ms Baraka Chijenga and Mr Justice Mangu, connects smallholder farmers in Tanzania to reliable urban markets by aggregating, processing, and distributing fresh produce through a technology-enabled supply chain, aiming to reduce food waste.
Hakimu (Kenya), Hakimu, co-founded by Ms Rawan Dareer, Mr Ahmed Ahmed and Mr Ahmed Elbashir, is building a pan-African legal infrastructure leveraging the power of AI.
Biovana (Nigeria), co-founded by two female founders, Ms Estelle Dogbo and Dr Jumi Popoola, is a data harmonisation and certification platform focused on unlocking African health datasets for global pharmaceutical, AI, and clinical research applications.
Commenting on the new portfolio companies, Mr Emmanuel Adegboye, Head of Madica, said, “Each new investment brings us closer to the portfolio we set out to build, one that reflects the full breadth and diversity of African entrepreneurship. These three startups join a growing community of founders we’re backing with the resources, relationships, and runway they need to succeed at this early stage. The opportunity across the continent is enormous, and we’re committed to being a crucial and consistent partner in realising it.”
“Joining the Madica portfolio is a significant moment for Hakimu. We’re revolutionising access to justice across Africa, and having a partner that understands the specific challenges and opportunities of scaling in Africa makes a real difference,” said Ms Dareer, co-founder and CEO of Hakimu. “We’re grateful for the trust, looking forward to the hands-on support, and clear-eyed about the work ahead.”
By Adedapo Adesanya
President Bola Tinubu is expected to be among the leading public figures attending the next edition of the Africa CEO Forum, which will take place on May 14-15, 2026, in Kigali, Rwanda
A strong Nigerian private-sector delegation will also take part, including Mr Aliko Dangote, Mr Wale Tinubu, Mr Ofovwe Aig-Imoukhuede, Mrs Adesuwa Ladoja, Mrs Rachel More-Oshodi, Mrs Zouera Youssoufou, Mr Karim Noujaim, Mr Dany Abboud, Mr Ayo Otuyalo and Mr Chukwuerika Achum. Nigeria’s Coordinating Minister of Health and Social Welfare, Professor Muhammad Ali Pate, will also be present.
According to a statement on Tuesday, the 2026 edition will convene in Kigali to address a defining question for Africa’s future: how to achieve the scale necessary to compete, integrate and thrive in a fragmenting world.
It comes as global power dynamics continue to evolve, while the ability of Africa to rely on competitive, agile and internationally integrated corporate champions has become a defining corporate imperative. In this shifting global landscape, one lesson is clear: scale is no longer optional. It is the first line of defence.
Organised by Jeune Afrique Media Group and co-hosted by the International Finance Corporation (IFC), the Africa CEO Forum 2026 will convene Africa’s leading public and private decision-makers around a clear conviction: scale can only be achieved through shared African ownership.
The Forum will explore three strategic levers to build continental scale. First is shared equity, which will look to unlock cross-border equity investment to create multinational African champions. Mobilise African institutional capital across markets to strengthen resilience and enhance long-term returns.
Also, is shared infrastructure, which will take on designing complementary infrastructure to integrate African value chains. Champion transformative projects that serve regional, not merely national, needs and create truly connected markets.
Thirdly is shared frameworks, which is set to harmonise standards, rules and regulations to boost investor confidence and enable the free flow of capital, goods and services. Build future-proof digital rails for health, education, agriculture and cross-border payments.
Speaking on this, Mr Amir Ben Yahmed, President of the Africa CEO Forum, stated: “If Africa wants to compete in a world defined by scale, it must move beyond economic patriotism and embrace a new model: African capital investing together. Shared ownership, cross-border partnerships and continental ambition will define the economic future of Africa and the next generation of African champions.”
On his part, Mr Makhtar Diop, Managing Director at IFC, stated: “Africa has the capital and the opportunity to grow and create quality jobs. What matters now is putting that capital to work at scale. That means building trust, sharing risk, and investing across borders. The Africa CEO Forum brings leaders together to connect policy and private investment, and to help shape Africa’s next phase of growth.”
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