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 federal government has declared Thursday, December 25, and Friday, December 26, 2025, as public holidays to mark Christmas and Boxing Day respectively.
The government also declared Thursday, January 1, 2026, for the New Year celebration.
The declaration was contained in a statement issued on Monday by the Permanent Secretary of the Ministry of Interior, Mrs Magdalene Ajani, on behalf of the Minister of Interior, Mr Olubunmi Tunji-Ojo.
According to the statement, the Minister urged Nigerians to reflect on the values of love, peace, humility and sacrifice associated with the birth of Jesus Christ.
Mr Tunji-Ojo also called on citizens, irrespective of faith or ethnicity, to use the festive season to pray for peace, improved security and national progress.
He further advised Nigerians to remain law-abiding and security-conscious during the celebrations, while wishing them a Merry Christmas and a prosperous New Year.
Business Post reports that on these public holidays – the foreign exchange market, the Nigerian Exchange (NGX), as well as the NASD Over-the-Counter (OTC) Securities Exchange will not open to trade.
By Modupe Gbadeyanka
Local crude oil refiner, Dangote Petroleum Refinery, has kicked against attempts to put consumers of premium motor spirit (PMS), otherwise known as petrol, under untold hardship in the country.
The company, which commenced nationwide sales of the product at a pump price of N739 per litre across all MRS Oil Nigeria Plc filling stations, appealed to Nigerians to report any of its marketers who sell above this price.
“Any attempt to create artificial scarcity or manipulate supply to frustrate recent price reductions is unpatriotic and unacceptable.
“We urge regulatory authorities to remain vigilant and take firm action against such practices, especially during this critical festive period,” the Lagos-based refinery said in a statement.
It noted that the significant price reduction was part of its mission to deliver affordable fuel to consumers and stabilize the downstream petroleum market.
With over 2,000 MRS stations nationwide, the new pricing is expected to be implemented across all outlets, ensuring that the benefits of this reduction reach consumers nationwide.
Dangote Refinery applauded marketers who have embraced the new pricing regime and urged others to follow suit in the interest of national economic recovery.
“We commend MRS and other marketers who have demonstrated patriotism by reflecting the reduced price at the pump. We call on others to join this effort as a show of support for Nigeria’s economic recovery,” the refinery stated.
Historically, the festive season has been associated with fuel scarcity and sharp price hikes. However, Dangote Refinery has delivered a decisive market intervention—crashing pump prices at a time when Nigerians typically brace for hardship. Backed by a guaranteed daily supply of 50 million litres, this initiative fundamentally alters the supply dynamics during the holiday period.
By refining locally at scale, the refinery is reducing Nigeria’s exposure to volatile global markets, conserving foreign exchange, stabilizing the Naira, and strengthening energy security. This sustained price cut and steady supply are providing relief to households, businesses, and transport operators nationwide.
Consumers were advised to resist purchasing fuel at inflated prices when cheaper, high-quality alternatives are readily available.
“We encourage Nigerians to avoid buying PMS at excessively high prices when they can access locally refined fuel at N739 per litre from over 2,000 MRS stations nationwide. Report any MRS station selling above N739 per litre by calling 0800 123 5264,” the refinery said.
“We also call on other petrol station operators to patronize our products so that the benefits of this price reduction can be passed on to Nigerians across all outlets, ensuring broad-based relief and a more stable downstream market,” it added, reaffirming its commitment to steady supply, price moderation, and energy security, emphasizing that its operations are anchored on long-term national interest rather than short-term market pressures.
“Our objective remains clear: to ensure consistent supply of high-quality petroleum products at affordable prices for Nigerians, while supporting economic stability and reducing dependence on imports,” the refinery concluded.
By Adedapo Adesanya
The federal government’s approval of N185 billion as the settlement for long standing debts owed to gas producers in the country has been described as a major boost for Nigeria’s gas industry and power generation value chain.
The decision, endorsed by the National Economic Council (NEC) chaired by Vice President Kashim Shettima, followed the authorisation by President Bola Tinubu and represents one of the most significant fiscal interventions in the energy sector in recent years.
The legacy debts, accumulated over years for gas supplied to power plants, have constrained cash flow for producers, discouraged new investments and reduced gas supply to electricity generation, worsening Nigeria’s chronic power shortages.
Under the approved framework, the debts will be settled through a royalty-offset arrangement, a mechanism expected to ease government liabilities while restoring confidence among domestic and international gas suppliers.
The Minister of State for Petroleum Resources (Gas), Mr Ekperikpe Ekpo, described the approval as a turning point for the sector.
“This is a decisive step towards revitalising Nigeria’s gas sector and strengthening its power-generation capacity in a sustainable manner,” Mr Ekpo said, adding that the move aligns with President Tinubu’s commitment to resolving structural bottlenecks in the energy industry.
He noted that clearing the arrears would help rebuild trust between government and gas producers, many of whom had slowed investments due to persistent payment uncertainties.
“Settling these debts is critical to restoring investor confidence, reviving upstream activities and accelerating exploration and production,” Mr Ekpo stated.
According to him, increased gas output would directly translate into improved power generation, helping to address electricity shortages that have long constrained industrial productivity and economic growth.
The gas minister further explained that the intervention supports the Federal Government’s Decade of Gas initiative, which targets unlocking more than 12 billion cubic feet per day of gas supply by 2030.
On his part, the Coordinating Director of the Decade of Gas Secretariat, Mr Ed Ubong, said the decision sends a strong signal to investors across the gas-to-power value chain.
“This approval underlines the Federal Government’s determination to clear legacy liabilities and assure gas producers that supplies to power generation will be honoured,” Mr Ubong said.
He added that the move could unlock stalled projects, revive investor interest and rebuild momentum toward Nigeria’s transition to a gas-driven economy.
The settlement could mark a critical step in stabilising gas supply to power plants, improving electricity reliability and positioning gas as a catalyst for industrialisation and long-term economic growth.
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