General
FG to Regularise Sale of Afam Power Plant to Transcorp Power Consortium
By Adedapo Adesanya
Nigeria’s National Council on Privatisation (NCP) has approved a request by the Bureau of Public Enterprises (BPE) to proceed with the engagement of Transcorp Power Consortium to ensure full execution of the Performance Agreements (PAs) governing the sale of Afam Power Plc and Afam III Fast Power Limited.
According to a statement from the presidency on Friday, the approval aims to regularise outstanding conditions and operational targets under the post-acquisition plan, ensuring the commercial viability of the Afam plant.
The sale to the Transcorp Consortium had been concluded in November 2020, but the federal government delayed the finalisation as it was required to execute the performance agreement, which outline the investor’s commitments, including increased operational capacity within a defined timeframe.
Presenting the memo to the NCP at its third meeting of 2025, Director-General of the BPE, Mr Ayo Gbeleyi, disclosed that the Federal Government had completed the sale process, with N53.9 billion received as privatisation proceeds.
He added that although the asset was handed over to Transcorp Power Consortium, the government restructured the transaction earlier this year, necessitating the execution of the performance agreements.
With this approval, the BPE can now begin mandatory post-privatisation monitoring of the investor’s performance obligations. Gbeleyi also briefed the Council on the BPE’s achievements in 2025, including the unbundling of the Transmission Company of Nigeria (TCN) into the Nigerian Independent System Operator (NISO) and the Transmission Service Provider (TSP).
Chairing the meeting, Vice President Kashim Shettima emphasised the need for a decisive shift in Nigeria’s privatisation strategy, from merely selling state-owned enterprises to optimising national assets for economic growth.
He said this direction is essential for powering Nigeria’s ambition to become a $1 trillion economy by 2030, stressing that the NCP must serve as the nation’s economic compass and provide discipline, vision, and guidance for policymaking.
Mr Shettima described Nigeria’s underutilised assets such as lands laying fallow, dormant real estate, and intellectual property as an immense reservoir of untapped wealth.
He called for bureaucratic efficiency, commercial agility, and the removal of bottlenecks that burden the government with the costs of subsidising inefficient state-owned enterprises.
To drive asset optimisation, the Vice President instructed the Council to explore modern economic models such as long-term concessions, asset-backed securitisation, and investor-led benchmarks.
Mr Shettima also warned against transaction irregularities, insisting on zero tolerance for ambiguities that could trigger disputes, while reinforcing Nigeria’s commitment to transparency for the international investment community.
On his part, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, commended the BPE for its dedication to quality and best practices. Other contributors at the meeting included the Minister of Power, Mr Adebayo Adelabu; Minister of Budget and Economic Planning, Mr Atiku Bagudu; Attorney-General of the Federation and Minister of Justice, Mr Lateef Fagbemi; and the Governor of the Central Bank of Nigeria, Mr Yemi Cardoso.
General
Alleged N5bn Fraud: FG Arraigns Former Aviation Minister Stella Oduah
By Adedapo Adesanya
The Nigerian government on Wednesday arraigned former Minister of Aviation, Mrs Stella Oduah, before the High Court of the Federal Capital Territory (FCT) on a N5 billion corruption charge.
She was put on trial by the Attorney General of the Federation and Minister of Justice, Mr Lateef Fagbemi, on five counts relating to advance fee fraud and conspiracy.
The federal government, through the Economic and Financial Crimes Commission (EFCC), is prosecuting her and eight co-defendants on a 25-count charge involving alleged conspiracy and money laundering of public funds.
The specific amount in the main charge is approximately N5 billion, though some reports have mentioned N7.9 billion or N10 billion in total across all charges.
Mrs Oduah and the other defendants were first formally arraigned on July 21, 2023, after multiple delays, and they all pleaded not guilty to the charges.
In July and November 2023, the Federal High Court in Abuja, presided over by Justice Inyang Ekwo, ordered that the Office of the Attorney General of the Federation (AGF) take over the prosecution from the EFCC to ensure diligent handling of the case amidst procedural controversies.
Those charged alongside Mrs Oduah include her former aide Mrs Gloria Odita, other individuals, and several firms, including China Civil Engineering Construction Corporation (CCECC) Nigeria Limited.
Mrs Oduah also faces a separate eight-count charge filed in June 2023 for alleged document falsification, specifically for falsely claiming the loss of her National Youth Service Corps (NYSC) certificate.
General
Ansar-Ud-Deen Foundation’s Board of Trustees for Inauguration December 13
By Adedapo Adesanya
The Ansar-Ud-Deen Society of Nigeria will on Saturday, December 13, 2025, inaugurate the Board of Trustees of its newly created Ansar-Ud-Deen Foundation. The event will take place at La Scala Restaurant, MUSON Centre, Onikan, Lagos.
The Society described the inauguration as an important step in strengthening its long history of faith-based service, education, and community development. For more than 100 years, Ansar-Ud-Deen has promoted Islamic knowledge, moral values and social support across many communities. The new Foundation is expected to help organise and expand these efforts in a more structured and sustainable way.
According to the President of the Society, Mr Mosediq Adeniji Kazeem (SAN), the foundation will focus on major areas such as education, healthcare, youth empowerment, and community development. He said it will operate based on Qur’anic principles of charity, fairness and compassion.
Mr Kazeem explained that, “the Board of Trustees will be made up of respected men and women who have shown integrity, vision and dedication to service. He said the Foundation will act as a permanent endowment to support key projects of the Society.”
One of its main responsibilities will be the renovation and maintenance of Ansar-Ud-Deen mosques nationwide. “Our mosques must be accommodating and welcoming. We must be proud of any Ansar-Ud-Deen mosque we visit,” he said.
Other areas of focus include improving the infrastructure of Ansar-Ud-Deen schools, supporting Summit University, Offa, and funding social welfare and empowerment programmes for Muslims and the larger community.
The Foundation will also handle investments and donations on behalf of the Society, ensuring that resources are well managed, transparently reported, and invested in halal and ethical ventures that provide long-term benefits.
Reflecting on the broader vision, Mr Kazeem noted: “This Foundation gives structure to our shared aspiration that the good works of Ansar-Ud-Deen will not fade but will continue to flourish across generations.”
He called on members across Nigeria and in the diaspora to continue supporting the mission of building a community based on piety, fairness and progress.
General
Nigeria Customs Destroys N181m PMS Smuggling Network in Adamawa
By Adedapo Adesanya
The Nigeria Customs Service has uncovered a major petroleum smuggling network in Adamawa State, cutting off fuel supply lines that have been draining national revenue and strengthening criminal economies along Nigeria’s northern borders.
National Coordinator of Operation Whirlwind, ACG Kolapo Oladeji, disclosed that officers recorded 55 seizures in eight weeks, blocking the illegal movement of more than 184,000 litres of PMS, a development he described as a significant economic breakthrough for the country.
“This operation is about protecting Nigeria’s strategic resources,” Mr Oladeji told journalists on Thursday at the Customs House in Yola. “Our mandate is clear: to shut down all illegal supply chains that empower criminal elements.”
The seizures, valued at N181.6 million in duty-paid terms, were intercepted across notorious smuggling corridors including Mubi–Sahuda, Farang–Belel, Gurin–Fufore, Maiha, Wuro-Bokki, Ribado waterways, Muninga and Bakin Kogi.
According to Mr Oladeji, items recovered include 2,642 jerrycans of 25-litre PMS, several 220-litre drums, and two large wooden boats used to ferry petroleum products across the border.
He stressed that the illegal PMS diversion is not just an economic crime but a direct threat to national stability.
“The smuggling network is a grave threat to Nigeria’s economy and internal security,” he said. “The illegal diversion of PMS weakens our revenue base and directly fuels non-state actors and cross-border criminal syndicates.”
Mr Oladeji added that intensified surveillance under Operation Whirlwind has “made it extremely difficult for saboteurs to move PMS out of the country,” in line with the directives of Comptroller-General Adewale Adeniyi.
Commending residents of border communities for supporting the operation with credible intelligence, the Customs chief urged them to remain vigilant.
“Your timely information has been invaluable,” he said. “Security is a collective responsibility, when you see something, say something.”
He also acknowledged the media’s role in raising awareness about the economic and security implications of petroleum smuggling, describing public enlightenment as crucial in sustaining recent gains.
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