General
Why Fani-Kayode’s Wife Was Detained At Access Bank—EFCC
By Ebitonye Akpodigha
The Economic and Financial Crimes Commission (EFCC) has explained why the wife of former Minister of Aviation, Mr Femi Fani-Kayode, Precious, was delayed at the Ado-Ekiti branch of Access Bank on Monday.
Yesterday, officials of the bank ‘detained’ the woman when she attempted to make transactions on the account.
Mrs Fani-Kayode was reportedly in Ekiti to commemorate the second year in office of Governor Ayodele Fayose.
It was learnt that the said account had been placed on ‘Post No Debit’ category over an alleged illicit flow of fund into it.
In a statement issued by the Head of Media and Publicity at the EFCC, Mr Wilson Uwujaren, the commission denied putting Mrs Fani-Kayode and her eight-month-old child in its custody.
“Contrary to the media spin about the purported arrest of mother and child, a certain Chikwendu Sonia today (Monday) attempted to withdraw money from an Access Bank account that had been placed on ‘Post No Debit’ Category, following the discovery of illicit cash flows into the account.
“She was intercepted by the bank while the Commission was notified but because it was late, the EFCC advised that the suspect be taken to the Police station for processing and release on bail.
“They were arranging to take the suspect to the police station when Governor Ayo Fayose stormed the bank with thugs and his personal security and forcefully secured the release of the suspect, with claims that the EFCC had no power to detain anybody in his state.
“He also vowed to close down the branch of the bank.
“The said account, which had a balance of N2,307,712.82 was flagged following investigation into the PDP Joint Trust fund when the Commission traced N1.1billion to the Zenith Bank account of Fani-Kayode.
“It was discovered that the account had two biometric identification numbers, one for Fani-Kayode and the other (with BVN 2205597283) for Sonia Chikwendu.
“The same BVN is linked to two other accounts in Diamond Bank and 15 accounts in Guaranty Trust Bank,” Mr Uwujaren narrated in the statement.
By Adedapo Adesanya
The Economic and Financial Crimes Commission (EFCC) has dismissed reports linking the Comptroller General of the Nigeria Immigration Service (NIS), Mrs Kemi Nandap, to an ongoing investigation into alleged visa racketeering involving some immigration officers.
The anti-graft agency said Mrs Nandap was not under investigation and had no connection whatsoever with the cases currently being handled by the commission.
The clarification was contained in a statement posted on the EFCC’s official X handle, noting that the clarification became necessary to address media reports and insinuations suggesting that the NIS Comptroller General was being investigated over the alleged visa fraud.
“The commission wishes to state unequivocally that it has no case with the Immigration CG,” the EFCC said.
However, the agency confirmed that it’s prosecuting some immigration officers over alleged visa fraud, adding that investigations remain ongoing.
“There are subsisting cases of alleged visa fraud against some immigration officers at the Federal High Court. Further investigations are ongoing with the possibility that more NIS officers could be arraigned for alleged fraudulent practices in the near future,” the statement read.
The EFCC stressed that despite the ongoing investigations and court cases involving some officers of the Nigeria Immigration Service, the Comptroller General was not linked to the matter.
“However, the Immigration CG is not remotely connected to these investigations,” the organisation stated.
The anti-corruption agency also urged journalists and media organisations to verify information relating to its activities before publication to prevent the dissemination of inaccurate reports, appealing to the media “to always seek clarifications on the activities of the EFCC to avoid misrepresentation of facts.”
By Adedapo Adesanya
Justice Inyang Ekwo of the Federal High Court, Abuja, has granted bail to the former Managing Director of the Warri Refining and Petrochemical Company Limited, Mr Jimoh Yisawu, in the sum of N500 million.
Mr Yisawu is standing trial on an eight-count charge bordering on alleged money laundering.
He pleaded not guilty to all eight counts after they were read to him. The charge, dated and filed on June 22, 2026, was brought by the Federal Government.
The prosecution, led by Mr Ekele Iheanacho, a Senior Advocate of Nigeria (SAN), told the court that the defendant allegedly committed offences contrary to the Money Laundering (Prevention and Prohibition) Act, 2022.
In the first count, the Federal Government alleged that Mr Yisawu “indirectly converted the aggregate sum of over $789,950… being proceeds of unlawful activity”, contrary to Section 18(2)(b) and punishable under Section 18(3) of the Act.
In the second count, the prosecution alleged that he made cash payments exceeding $789,950 to one Samaila Bala without using a financial institution, contrary to the provisions of the anti-money laundering law.
In the fourth count, the government further alleged that Yisawu made cash payments totalling $122,600 through one Rasheed Olaitan Yusuf outside the banking system and due process, in violation of the anti-money laundering law.
Following the defendant’s plea, Iheanacho applied for a trial date.
Counsel for the defendant, Wale Balogun (SAN), informed the court that he had filed a bail application.
Responding, Mr Iheanacho said the prosecution had filed a counter-affidavit opposing the application and urged the court to refuse bail.
Balogun, however, argued that the prosecution had earlier granted Mr Yisawu administrative bail and had already seized his international passport. He urged the court to maintain the existing bail terms.
After adopting their respective processes, both counsel argued for their applications.
In a ruling, Justice Ekwo held that the defendant was entitled to bail.
The judge said, “Going by Section 162 of the Administration of Criminal Justice Act (2015)… I therefore grant bail in the sum of ₦500m with one surety in like sum.”
Justice Ekwo ordered that the surety must be a responsible Nigerian with landed property in Abuja and must submit proof of ownership to the court registrar.
The judge also directed the defendant to deposit his international passport with the court and barred him from travelling outside Nigeria without the court’s permission.
Pending the perfection of the bail conditions, the court ordered that Mr Yisawu should remain in the custody of the prosecution.
The case was adjourned until October 25, 26, and 27, 2026, for trial.
By Adedapo Adesanya
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged the federal government to review the fuel import licences recently issued to some marketers, saying the policy is driving up fuel prices, putting pressure on foreign exchange and creating instability in the downstream petroleum sector.
Speaking in Abuja, IPMAN’s National Publicity Secretary, Mr Chinedu Ukadike, said the current import regime has not achieved its goal of making fuel more affordable. Instead, he argued that it has encouraged the importation of more expensive petrol while increasing the country’s dependence on foreign exchange.
According to Mr Ukadike, some importers plan to sell Premium Motor Spirit (PMS), also known as petrol, for about N1,350 per litre, which is higher than the ex-depot price offered by the Dangote Petroleum Refinery.
The IPMAN official questioned the need to import fuel at higher prices when locally refined products are available at lower costs, noting that the situation has made it difficult for independent marketers to plan their businesses because import costs continue to fluctuate.
Mr Ukadike also raised concerns about the quality of some imported fuel and called on regulators to ensure that only products that meet Nigeria’s standards are allowed into the country.
The association warned that continued fuel imports also increase demand for the US Dollar since importers pay for products in foreign currency. This, the association said, puts additional pressure on the naira and contributes to higher fuel prices.
The association stressed that Nigeria should focus on supporting local refining to improve energy security and reduce reliance on imported petroleum products.
It noted that the Dangote Petroleum Refinery has helped maintain steady fuel supply despite global disruptions, including tensions in the Middle East.
According to IPMAN, greater use of locally refined fuel would reduce FX demand, strengthen the refining industry, create jobs and improve economic stability. It also said producing enough fuel for local consumption while exporting excess output would help Nigeria earn more foreign exchange.
The association called on the federal government, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigerian National Petroleum Company (NNPC) Limited and the Presidential Committee on downstream reforms to engage stakeholders and adopt policies that support domestic refining.
IPMAN said strengthening local refining remains the best long-term solution for affordable fuel, stable supply and improved energy security in Nigeria.
