General
Finance Minister Kemi Adeosun in NYSC Certificate Forgery Scandal
By Dipo Olowookere
These are not the best of times for Nigeria’s Finance Minister, Mrs Folakemi Adeosun, getting into the news for the wrong reasons in recent times.
The eloquent and brilliant Economist has been accused of forging her National Youth Service Corps (NYSC) certificate to get jobs in Nigeria, including the present one.
According to Premium Times, the former Commissioner for Finance in Ogun State did not participate in the mandatory one-year scheme even after graduating before the age of 30, when she is qualified for an exemption.
Mrs Adeosun graduated from the Polytechnic of East London in 1989, at the age of 22 as Folakemi Oguntomoju and in 1992, the institution changed its name to University of East London with her certificate issued in the new name.
According to her curriculum vitae, Mrs Adeosun was born in March 1967 and having graduated at 22, it was obligatory for Mrs Adeosun to participate in the one-year national service for her to qualify for any job in Nigeria.
Going by the NYSC law, section 13, eligible Nigerians who skipped the service are liable to be sentenced to 12 months imprisonment and/or N2,000 fine.
Section 13 (3) of the law also prescribes three-year jail term or option of N5,000 fine for anyone who contravenes provision of the law.
The report by Premium Times said the Finance Minister parades a purported NYSC exemption certificate, which was issued in September 2009, granting her exemption from the mandatory service on account of age.
Business Post gathered from the report that Mrs Adeosun’s ‘certificate’ is dated September 9, 2009, and was purportedly signed by the former director-general of NYSC, Mr Yusuf Bomoi.
But officials of the NYSC said Mr Bomoi stepped down from the corps in January 2009, and could not have signed any certificate for the agency eight months after. The retired brigadier general passed on in September 2017.
It is important to note that the NYSC certificate is a requirement for government and private sector jobs in Nigeria and the enabling law prescribes punishment for anyone who absconds from the scheme or forges its certificates.
Subsection 4 of Section 13 of the law criminalises giving false information or illegally obtaining the agency’s certificate. It provides for up to three-year jail term for such offenders.
According to Premium Times, upon graduation in 1989, Mrs Adeosun, who studied Applied Economics in the United Kingdom, did not return to Nigeria to serve her fatherland, but pursued fast-paced career in the British public and private sectors.
She first landed a job at British Telecoms, but left after a year to join Goodman Jones, an accounting and investment firm, as audit officer. She served there till 1993.
In 1994, Mrs Adeosun joined London Underground Company as Internal Audit Manager, before switching to Prism Consulting, a finance firm, where she worked between 1996 until 2000.
In 2000, Mrs Adeosun was hired by PricewaterhouseCoopers, where she worked for two years.
When she eventually returned to Nigeria in 2002, Mrs Adeosun still did not deem it necessary to participate in the NYSC scheme. She simply accepted a job offer at a private firm, Chapel Hill Denham.
However, ostensibly concerned that she might run into trouble for skipping the mandatory scheme, Mrs Adeosun, sometime in 2009, procured a fake exemption certificate.
The NYSC does not issue exemption certificate to anyone who, like the minister, graduates before turning 30, top officials of the scheme familiar with the matter said.
Using that fake certificate, Mrs Adeosun went on to clinch high-profile jobs at Quo Vadis Partnerships (managing director), Ogun State Government (commissioner for finance), and Federal Government of Nigeria (minister of finance).
By the provision of Section 12 of the NYSC Act, employers must demand NYSC certificates from prospective employees. The law also mandates employees to present only genuine certificates for that purpose.
Section 12 of the Act reads: “For the purposes of employment anywhere in the Federation and before employment, it shall be the duty of every prospective employer to demand and obtained from any person who claims to have obtained his first degree at the end of the academic year 1973-74 or, as the case may be, at the end of any subsequent academic year the following:-
a. a copy of the Certificate of National Service of such person issued pursuant to section 11 of this Decree
b. a copy of any exemption certificate issued to such person pursuant to section 17 of this Decree
c. such other particulars relevant there to as may be prescribed by or under this Decree.”
A lawyer, Sagir Gezawa, described jobs Mrs Adeosun has had in Nigeria as illegal.
“The combined effect of sections 12 and 13 of the NYSC Act is that it is illegal to hire a person who graduated but failed to make himself or herself available to serve, or falsify any document to the effect that he or she has served or exempted from serving.”
However, without demanding or verifying the veracity of the certificate presented by Mrs Adeosun, two Nigerian companies, the Ogun State Government and the Federal Government of Nigeria employed her at various times.
On becoming Governor of Ogun State in 2011, Mr Ibikunle Amosun nominated her into his cabinet. She proceeded to serve as commissioner of finance for four years.
In November 2015, Mrs Adeosun was sworn in as minister by President Muhammadu Buhari, and assigned the all-important finance ministry, after a supposed security and Senate screening.
The State Security Service, charged with vetting appointees to top government positions, failed to detect that her NYSC certificate was fake.
The Senate, which received the fake certificate as part of the documents Mrs Adeosun submitted for her confirmation hearing, detected the discrepancy, PREMIUM TIMES understands.
But it nonetheless proceeded to clear her for the top office. Those familiar with the matter said the leadership of the National Assembly used that information to blackmail and extort Mrs Adeosun for years.
Premium Times investigated Mrs Adeosun’s so-called NYSC certificate for months, determining eventually that it is fake.
“This one is an Oluwole certificate,” a top official of the corps said after we showed him a copy of the document. “We did not issue it and we could not have issued it.” Oluwole is a location in Nigeria’s commercial capital, Lagos, where fraudsters possess an amazing dexterity in the act of forging all kinds of documents.
Several current and former officials of the scheme told this paper that the NYSC would never issue an exemption certificate to anyone who graduated before age 30 and did not fall into the categories of persons exempted by the corps’ enabling Act.
By that law, there are four categories of Nigerians eligible for exemption certificates. The first are those who graduated after turning 30. The second are holders of national honours. The third are persons who served in the armed forces or the police for up to nine months. The last category are staff of intelligence agencies, or the armed forces.
Therefore, having graduated at 22, and with no record of national honours or service in the intelligence or armed forces, Mrs Adeosun is not qualified for exemption, officials said.
Yet, the so-called exemption certificate she holds gave age as the reason for her exemption.
“This is not the size of our exemption certificate,” another top official of the corps remarked when shown a copy of the minister’s ‘certificate’. “The calligraphy is also different”.
On another day, another staff questioned the genuineness of the ‘certificate’ based on the font of the serial number.
“Look at this, look at this other one, the numbering is different,” the staff said while comparing Mrs Adeosun’s certificate with a genuine one on file.
Mrs Adeosun’s name also failed to pop up during multiple checks of the exemption certificates registers kept by the corps, officials said.
One official, who perused the register recently, noted that the sequence of serial numbers for certificates issued in 2009 did not correspond to that in Mrs Adeosun’s purported certificate.
The signature on the ‘certificate’ is also suspect. As indicated earlier in this report, it was purportedly signed by an official who left the corps eight months before the document was made. One official described that claim as “barefaced lie and total impossibility”.
Premium Times reported Friday how the certificate scandal was turned into a tool for blackmail by a National Assembly cartel that used it to coerce the finance minister to keep releasing funds to the lawmaking arm.
Some federal lawmakers revealed to the paper that the discrepancy was detected by the Senate during the minister’s confirmation hearing. But rather than probe the issue, they turned it into a tool against Mrs Adeosun.
The report linked the certificate scandal to the minister’s excessive, even illegal, funding of the lawmakers, including recently funnelling a N10 billion largesse to that arm of government.
Although several of its officials informally cooperated with our reporters in the course of this investigation, the NYSC leadership declined to respond to our official correspondences.
The newspaper first sent a letter to Director-General Sule Kazaure (brigadier-general) requesting him to help determine the authenticity or otherwise of the minister’s ‘certificate’.
After it received no response for several weeks, a Freedom of Information request was sent on the matter. Weeks after, the journal is still waiting for response.
Insiders say authorities of the corps have been under severe pressure in the past weeks not to respond to inquiries on the matter.
A reporter of the newspaper also requested a reaction from Oluyinka Akintunde, the spokesperson to Mrs Adeosun, who was briefed on the outcome of the investigations. He was yet to send a response to the inquiry.
General
4th South Africa Focus Week Begins in Lagos to Strengthen Bilateral Ties
By Adedapo Adesanya
The South African Consulate General in Lagos, in partnership with Brand South Africa and the Development Bank of Southern Africa (DBSA), is hosting the 4th edition of the South Africa Focus Week in Lagos, Nigeria, from April 22 – 26, 2026.
The annual platform continues to grow as a strategic initiative aimed at fostering social cohesion between South Africans and Nigerians while positioning South Africa as a preferred destination for business, tourism, and education. Since its inception in 2023, South Africa Focus Week has attracted over 1,500 participants, bringing together stakeholders from across sectors, including trade and investment, arts and culture, tourism, aviation, and the culinary industry.
The 2026 edition holds particular significance as it coincides with the 30th anniversary of South Africa’s democratic Constitution, enacted in 1996, as well as 32 years of unbroken diplomatic relations between South Africa and Nigeria, established in February 1994. These milestones underscore the enduring partnership between the two nations, rooted in shared history and strengthened through formal agreements and ongoing collaboration.
The 2025 economic relationship between South Africa and Nigeria reflects a strategically significant, multi-dimensional partnership anchored in trade, energy security, investment flows, and strong institutional cooperation. While bilateral trade remains structurally imbalanced – with South Africa exporting US$468.48 million and importing $1.69 billion, resulting in a $1.22 billion deficit – this dynamic is largely driven by South Africa’s reliance on Nigerian crude oil, positioning the relationship as one of strategic interdependence rather than imbalance alone.
This partnership is further elevated by the relative economic weight of both countries. According to IMF projections, South Africa’s economy is valued at approximately $443.6 billion, while Nigeria’s stands at around $334.3 billion in nominal terms for 2026. As two of the largest economies on the continent, their bilateral engagement constitutes a central axis of African economic activity, with disproportionate influence on the success of continental integration efforts.
Beyond trade, the relationship is reinforced by deep two-way investment linkages. South African firms -including MTN Group, Shoprite, and Standard Bank – maintain a strong presence in Nigeria, while Nigerian companies such as Access Bank and Paystack have established a growing footprint in South Africa. Although investment flows are asymmetrical and some Nigerian firms have faced operational challenges, these exchanges reflect an emerging bi-directional economic corridor that extends beyond goods trade into services, finance, and digital innovation.
Aligned with Brand South Africa’s mandate to build the country’s global reputation and competitiveness, the week-long programme will convene leaders from government, business, civil society, academia, and the media. Discussions will focus on leveraging the African Continental Free Trade Area (AfCFTA) as a tool for market access and global positioning, with Nigeria serving as a key focal point.
The South Africa Focus Week has features a series of high-level engagements and cultural activities designed to deepen economic ties and promote collaboration: South Africa–Nigeria Infrastructure Investment Conference (April 22, 2026) which was held under the theme South Africa–Nigeria Partnership: Unlocking Infrastructure Opportunities,” the conference will bring together key stakeholders in infrastructure development to explore collaborative projects in road, rail, and transportation systems.
The forum also examined the role of Public–Private Partnerships (PPPs) and facilitated discussions on project financing and implementation with institutions such as the DBSA and Nigeria’s Infrastructure Concession Regulatory Commission (ICRC).
This was followed by the 2nd Economic Diplomacy Roundtable (Thursday, April 23, 2026), which was hosted in partnership with MTN Nigeria under the theme Role of Technology in Infrastructure Development, the roundtable will convene senior government officials, private sector leaders, and industry experts to identify investment opportunities and strengthen strategic partnerships.
Friday, April 24, was for Arts and Culture Experience, which is a dedicated cultural day will showcase Lagos’ creative spaces and features a panel discussion on South Africa’s arts, film, music, and culture. The programme includes a South African film screening, engagements with filmmakers, and a networking reception aimed at fostering collaboration between the creative industries of both countries.
The event continues on Thursday, April 25, with Freedom Day Celebration and Closing Ceremony. This commemorative event will celebrate 30 years of South Africa’s Constitution, 32 years of freedom and democracy, and the enduring diplomatic relations between South Africa and Nigeria. The ceremony will also provide an opportunity to reflect on outcomes from the week and outline future areas of cooperation.
The celebration forms part of Brand South Africa’s Global South Africans Programme, which recognises and connects South Africans in the diaspora as ambassadors of the nation’s values and identity.
The week climaxes with the 4th edition of the South Africa Golf Tournament at Ikoyi Golf Club on Saturday, April 26, 2026, which will be done in partnership with Crossflex International.
According to a statement, the event aims to strengthen people-to-people relations through sports diplomacy, bringing together South African and Nigerian golfers in a spirit of camaraderie and collaboration.
General
EFCC Arrests Ex-Skye Bank Chair Tunde Ayeni Over Alleged Diverted Loans
By Modupe Gbadeyanka
The former chairman of the defunct Skye Bank Plc, Mr Tunde Ayeni, has been apprehended by the Economic and Financial Crimes Commission (EFCC).
Spokesperson of the anti-money laundering agency, Mr Dele Oyewale, confirmed the arrest of the businessman on Friday but declined to provide further details, according to TheCable.
Mr Ayeni was accused of diverting the N36.5 billion and $30 million loans from Polaris Bank Limited to companies with which he has links.
He was alleged to have obtained the credit facilities for marine security, electricity distribution, and real estate projects, but moved them to telecom investments tied to NITEL/MTEL assets via a NATCOM account.
After the Central Bank of Nigeria (CBN) revoked the operating licence of Skye Bank in 2018, it nationalised it to Polaris Bank.
The EFCC has been looking into the alleged diversion of funds by Mr Ayeni, resulting in his arrest in Abuja on Thursday, April 23, 2026.
He is being grilled over the matter and would be arraigned in court once the investigation is concluded.
This is not the first time Mr Ayeni has been nabbed and probed by the EFCC, as this happened a few months after his bank lost its licence.
The then acting spokesman for the EFCC, Mr Tony Orilade, said Mr Ayeni was quizzed by detectives over issues related to fraud and embezzlement allegedly committed by him when he was Chairman of the bank a few years ago.
General
Customs, Police Commence Tighter Security at Ports to Protect Oil Trade
By Adedapo Adesanya
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