General
Emefiele Loses Suit to Challenge Court’s Jurisdiction
By Adedapo Adesanya
An Ikeja Special Offences Court on Wednesday dismissed the application filed by the embattled ex-Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, challenging the jurisdiction of the court to hear his case.
The Economic and Financial Crimes Commission (EFCC) had filed a 26-count charge against Mr Emefiele for alleged misuse of office, resulting in losses of $4.5 billion and N2.8 billion.
His co-defendant, Mr Henry Omoile, is standing trial on related offences, including unlawful acceptance of gifts from the former CBN chief.
Justice Rahman Oshodi, in his ruling today, held that the court had jurisdiction to try Mr Emefiele on the charge, citing relevant authorities.
He, therefore, dismissed Emefiele’s application and held that EFCC had established a territorial jurisdiction on counts eight to 26, with various facts in the proof of evidence attached to the case file.
The court, however, struck out counts one to four of the charge which bothered on abuse of office, saying the allocation of foreign exchange without bid, which was the subject of counts one to four was not punishable under the law.
“Allocation of foreign exchange without reason is not defined as an offence in any written law.
“The objection to counts one to four succeeds and is hereby struck out.
“The objection challenging the court’s territorial jurisdiction over count eight to 26 fails, and is hereby dismissed.
“The prosecution has established sufficient territorial nexus in this case,” the judge said.
The judge, thereafter, held that the case should proceed to trial and adjourned until February 24 for continuation of trial.
Mr Emefiele’s Counsel, Mr Olalekan Ojo (SAN), had on December 12 2024, argued that the court lacked jurisdiction to hear the case in Lagos.
Mr Ojo contended that the alleged offences, including abuse of office, fell outside the territorial reach of the court.
He said the charge violated Section 36(12) of the Constitution, and asserted that the actions Emefiele was accused of, were not legally recognised offences.
He stated that the Lagos State House of Assembly did not have legislative authority over matters on the Exclusive Legislative List.
Mr Ojo, therefore, said Section 73 of the Criminal Law of Lagos State, 2011, under which counts one to four were filed, could not apply extra-territorially to any alleged abuse of office by Emefiele.
The learned silk argued that a court’s territorial jurisdiction referred to the geographical area within which its authority could be exercised.
According to him, outside of that territorial jurisdiction, the court can not act.
He urged the court to strike out counts one to four of the 18 amended information filed on April 4, 2024, on the grounds that the offences occurred outside the court’s jurisdiction.
The EFCC Counsel, Mr Rotimi Oyedepo (SAN), in his counter affidavits, had argued that the court had the authority to hear the case.
Mr Oyedepo argued that the alleged offences were economic and financial in nature, therefore, within the jurisdiction of EFCC.
He also added that the evidence in support of the facts, proved Lagos as the appropriate venue for the trial.
Mr Oyedepo further submitted that the subject matter of the charge fell squarely within the court’s jurisdiction, as the offences were committed within the court’s territorial reach.
He argued that the evidence and witness testimonies pointed to Lagos as the proper location for the trial, adding that the objections raised by Mr Emefiele’s legal team were not substantiated by facts or evidence.
By Aduragbemi Omiyale
The sum of N3.3 trillion has been approved by President Bola Tinubu to finally clear the outstanding debts in the power sector.
A statement issued on Sunday by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, said the “long-standing debts accumulated between February 2015 and March 2025.”
It was stated that the payment plan for the debts under the Presidential Power Sector Financial Reforms Programme should restore reliable electricity to the country.
“Following verification, N3.3 trillion has been agreed as a full and final settlement, ensuring a fair and transparent resolution,” a part of the statement noted.
“Implementation has begun, with 15 power plants signing settlement agreements totalling N2.3 trillion. The federal government has already raised N501 billion to fund these payments. Out of the amount, N223 billion has been disbursed, with further payments underway,” it added.
The statement said, “With payments reaching the power value chain, generation will be more stable. With power plants supported, electricity reliability will improve.”
“This programme is not just about settling legacy debts. It is about restoring confidence across the power sector — ensuring gas suppliers are paid, power plants can keep running, and the system begins to work more reliably,” the Special Adviser to the President on Energy, Ms Olu Arowolo-Verheijen, was quoted as saying in the statement.
“It is part of a broader set of reforms already underway — including better metering and service-based tariffs that link what you pay to the quality of electricity you receive.
“The government is also prioritising power supply to businesses, industries, and small enterprises — because reliable electricity is critical to creating jobs, supporting livelihoods, and growing the economy.
“The goal is simple: more reliable power for homes, stronger support for businesses, and a system that works better for all Nigerians,” she added.
President Tinubu has commended all stakeholders who supported efforts to resolve the legacy issues in the power sector. He has also confirmed that the next phase (Series II) will begin this quarter.
By Adedapo Adesanya
Former Vice-President Atiku Abubakar has hired Von Batten-Montague-York, L.C., a Washington-based lobbying firm, to protect and strengthen his “reputational standing” in the United States for $1.2 million.
According to The Cable, the contract agreement was signed by Mr Karl Von Batten, the managing partner at the firm, and Mr Fabiyi Oladimeji, a Nigerian politician, on March 9 and 10, 2026, respectively.
Based on a document filed with the US Department of Justice, one of the contract’s objectives entails that the firm will “counterbalance” the Nigerian government’s “lobbying narratives” in the US. It comes after the federal government reportedly spent $9 million to strengthen lobbying with the US government earlier this year.
Mr Abubakar, who is eyeing the Nigerian presidency, is currently with the African Democratic Congress (ADC). He will use the firm to “advance understanding” within US policymaking institutions of his “leadership posture and policy vision”.
Based on the contract details, the firm will facilitate and arrange meetings for the former vice-president to engage with US government officials and members of Congress.
Von Batten-Montague-York will also provide the politician with “guidance on policy positioning, reputational considerations, and engagement strategy”.
“These activities include lobbying and government affairs engagement with Members of Congress, congressional staff, and executive branch officials concerning issues related to democratic governance, regional stability, economic development, and U.S. engagement with Nigeria and the broader West African region,” part of the contract details reads.
“The Registrant (lobbying firm) may advocate for policies and perspectives aligned with the foreign principal’s stated positions, including matters relating to governance, economic policy, and bilateral relations with the United States.
“The Registrant also engages in promotion, perception management, and public relations activities designed to enhance understanding among U.S. policymakers and relevant stakeholders of the foreign principal’s policy positions, leadership posture, and strategic priorities.
“This includes the development of messaging strategies, narrative positioning, and reputational advisory services.
“In furtherance of these activities, the Registrant prepares, distributes, and may assist in the dissemination of informational materials, including briefing memoranda, policy papers, talking points, and related communications, intended to inform U.S. government officials and stakeholders.”
The former vice-president is expected to pay the $1.2 million for the 12-month contract in six instalments.
By Dipo Olowookere
The need for Africa to protect itself from many external shocks not of its making has again been emphasised by the African Development Bank (AfDB), the African Union Commission (AUC), the United Nations Development Programme (UNDP), and the UN Economic Commission for Africa (UNECA).
On the margins of the 58th session of the Economic Commission for Africa in Tangier, Morocco, the continent was tasked to strengthen regional integration, accelerate African-led financial solutions, and invest decisively in energy, food, and trade resilience so as to move from vulnerability to preparedness.
The meeting focused on the spikes in energy, food and fertiliser prices caused by the ongoing conflict in the Middle East.
The United States and Israel launched airstrikes on Iran in February 2026, and since then, global oil prices have surged by more than 50 per cent as of late March. Twenty-nine currencies in Africa have weakened, raising the cost of servicing external debt and importing food, fuel, and fertiliser.
Disruptions linked to Gulf energy supplies limit access to ammonia and urea during the critical March–May planting season. This will affect agricultural production, compounding risks of crisis and emergency levels of food insecurity, especially for low‑income households and import‑dependent economies.
To address these issues, the quartet has asked African leaders to, in the short-term, stabilise fuel, food, and fertiliser supply, and execute medium‑term reforms to strengthen energy security, targeted social protection, and regional trade under the African Continental Free Trade Area (AfCFTA).
They also tasked leaders to come up with long‑term structural reforms towards stronger domestic resource mobilisation and African financial safety nets, including accelerated implementation of the African Financing Stability Mechanism.
“Continued escalation of the conflict worsens global instability, with serious implications for energy markets, food security, and economic resilience, particularly in Africa, where economic pressures remain acute,” the chairperson of AUC, Mr Mahmoud Ali Youssouf, said.
Also commenting, the UN Under-Secretary-General and Executive Secretary of UNECA, Mr Claver Gatete, said, “Africa has been hit by too many external shocks not of its making. Crises like this reinforce why Africa must finance more of its own future and strengthen regional solutions that build resilience before the next shock hits.”
On her part, the UN Assistant Secretary‑General and Director of UNDP’s Regional Bureau for Africa, Ms Ahunna Eziakonwa, submitted that, “With the right mix of policy choices, financing tools, and political resolve, Africa can weather this shock and emerge more resilient, more self-reliant, and better positioned to shape its own economic future.”
“As global crises multiply, Africa’s response must evolve from managing shocks to fostering resilience. African institutions and development partners need to act swiftly and in concert, leveraging their comparative advantages to cushion short-term shocks while laying the foundations for long-term resilience,” the president of AfDB, Mr Sidi Ould Tah, stated.
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