General
Malabu Oil: Again, Court Frees Ex-AGF Adoke of Money Laundering Charges
By Adedapo Adesanya
The Federal High Court in Abuja, on Friday, dismissed money laundering charges filed against a former Attorney General of the Federation (AGF) and Minister of Justice, Mr Bello Adoke.
The judge, Justice Inyang Ekwo, upheld the “no-case-submission” application filed by Mr Adoke after the prosecution, the Economic and Financial Crimes Commission (EFCC), concluded its case and it was the turn of the defendants to present theirs.
A no-case submission is filed by a defendant at the end of the prosecution’s case, asking the court for an acquittal without having him or her present a defence. Such filing is premised on the presumption by the defendant that the prosecution, with all its witnesses and evidence tendered while making its case, failed to link him or her to the alleged crimes.
Mr Adoke was standing trial along with Mr Aliyu Abubakar, a businessman, on money laundering charges in the case.
In his ruling on Friday, Mr Ekwo said the EFCC failed to provide any substantial evidence linking Mr Adoke to the alleged offence.
The judge went ahead to discharge and acquit Mr Adoke of alleged offences.
But, the judge dismissed Mr Adoke’s co-defendant’s no-case-submission, ordering Mr Abubakar to enter his defence in the trial.
The ruling tallies with the judgement of the Federal Capital Territory (FCT) High Court in Jabi, Abuja, which, three weeks ago, freed Mr Adoke of complicity in alleged fraud in the controversial Oil Prospecting Licence (OPL) 245, widely known as Malabu Oil deal.
In the FCT High Court case, Mr Adoke, who was justice minister under former President Goodluck Jonathan’s administration, was charged alongside a businessman, Aliyu Abubakar; Rasky Gbinigie; Malabu Oil and Gas Limited; Nigeria Agip Exploration Limited; Shell Nigeria Extra Deep Limited and Shell Nigeria Exploration Production Company Limited over the Malabu oil scam.
They were arraigned in 2020 on a 40-count amended charge.
EFCC had, in the FCT High Court, conceded that it lacked evidence against Mr Adoke and his co-defendants, but insisted that it had led credible evidence to warrant the former AGF to enter his defence in the matter.
However, in the Federal High Court case in which judgement was delivered on Friday, the EFCC had charged Messrs Adoke and Abubakar, alleging money laundering to the tune of N300 million.
The anti-graft agency had, on August 4, 2020, re-arraigned Messrs Adoke and Mr Abubakar on an amended 14 counts of money laundering.
In count 9 of the charges, the EFCC had alleged that Adoke, sometime in 2013, in Abuja, “made a cash payment of $2,267,400 to Risslanudeen Muhammed” and thereby “committed an offence contrary to the combined effect of section 16(1)(d) and of section 19a) of the Money Laundering Prohibition Act, 2011 (as amended) and punishable under section 16(2)(b) of the same Act”.
There was no mention of the Malabu Oil deal in the case before Mr Ekwo, however, the details of charges featured in the charges that were before the FCT High Court, where the EFCC said the N300 million was a kickback from the sale of the oil block by Malabu Oil & Gas Limited in 2011.
Each of them faced seven counts. They had pleaded not guilty.
The court exonerated Mr Adoke on Friday but ordered the proceedings to continue against his co-defendant, who is now to enter his defence.
Friday’s ruling brings to an end Mr Adoke’s trial in connection with the controversial Malabu Oil scam.
The Malabu scandal involved the transfer of about $1.1 billion by Shell and ENI through the Nigerian government to accounts controlled by a former Nigerian petroleum minister, Mr Dan Etete.
From accounts controlled by Mr Etete, about half the money ($520 million) went to accounts of companies controlled by Mr Aliyu Abubakar, popularly known in Nigeria as the owner of AA Oil.
The transaction was authorised in 2011 by Mr Jonathan through some of his cabinet ministers and the money was payment for OPL 245, one of Nigeria’s richest oil blocks.
The oil resources of the OPL 245 licence have remained undeveloped since the controversies began.
Eni initiated international arbitration proceedings against Nigeria in September, alleging the Nigerian government has breached its obligations by refusing to let the firm develop the licence, which has now expired this May.
By Modupe Gbadeyanka
The Transmission Company of Nigeria (TCN) has confirmed the collapse of five transmission towers along the Ikot Abasi–Eket 132kV Double Circuit Transmission Line.
This was attributed to severe acts of vandalism, as TCN disclosed that the structure collapsed after vandals removed critical structural bracing members.
The affected towers were N9, J4, N10, N11 and N12, the organisation said in a statement on Friday.
It explained that the extensive damage was discovered during a routine joint line patrol conducted on August 9, 2026, by TCN linesmen.
Further inspection revealed that structural members from seven additional towers along the same transmission corridor had also been removed and stolen. The towers, J3, N8, N13, N14, N15, N18 and N19, are now structurally compromised and pose a risk of further collapse.
TCN condemned this act of sabotage and reiterated its commitment to working hard to maintain a robust and reliable national grid.
The statement said that to mitigate the impact on electricity supply, the network has been reconfigured to prioritise supply to Ekim transmission station, leaving Ibom Power as the only station without supply.
TCN said it is mobilising an urgent intervention to complete the reconstruction of the affected sections of the line, with security agencies also notified to aid investigations and prevent further acts of vandalism along the line route.
By Adedapo Adesanya
The Speaker of the House of Representatives, Mr Tajudeen Abbas, has urged all relevant government agencies to promptly initiate actions for the full implementation of the Nigerian Ports Economic Regulatory Agency Act, 2026, following its signing into law by President Bola Tinubu.
The bill, sponsored by Speaker Abbas, was aimed at repealing the Nigerian Shippers’ Council Act, Cap. N133, Laws of the Federation of Nigeria, 2004, and establish the Nigerian Ports Economic Regulatory Agency to ensure effective economic regulation of Nigerian ports while safeguarding the interests of shippers, service providers, and users of regulated port services. With the President’s assent, it has now been enacted as an Act of Parliament.
The legislation represents one of the landmark achievements of the 10th National Assembly. It reflects the Speaker’s commitment to legislative excellence, institutional reform, and sustainable economic growth, according to a press statement by the Special Adviser on Media and Publicity to the Speaker, Mr Musa Krishi.
The bill underwent a rigorous and inclusive legislative process, including extensive stakeholder consultations and a public hearing. It was passed by both Chambers of the National Assembly and subsequently assented to by the President.
The Act provides a robust legal and institutional framework to ensure effective economic regulation of Nigerian ports by fostering transparency, competitiveness, and efficiency in port operations; protecting the rights and interests of shippers, service providers, and other port users; and aligning Nigeria’s port regulatory system with global best practices, thereby enhancing the ease and cost-effectiveness of doing business.
Despite receiving presidential assent, the Act has yet to be fully operationalised.
He warned that any further delay would undermine the legislative intent of the reform, prolong the exposure of port users to arbitrary charges and operational inefficiencies, and deny the nation the anticipated benefits of increased revenue, improved trade facilitation, and stronger investor confidence in the marine and blue economy sector.
The Speaker urged the Federal Ministry of Marine and Blue Economy, in collaboration with all relevant Ministries, Departments and Agencies (MDAs) of the federal government, to take the necessary administrative, institutional, and financial measures for the prompt implementation of the Act.
He said this should include the formal transition to, as well as operational empowerment of, the Nigerian Ports Economic Regulatory Agency to discharge its statutory mandate effectively.
The full implementation of the Act is critical to unlocking the economic potential of Nigeria’s ports, reducing the cost of doing business, strengthening trade competitiveness, and positioning Nigeria as the leading maritime and logistics hub in West and Central Africa.
The statement noted that the Speaker reaffirmed the 10th House’s commitment to exercising the necessary legislative oversight to ensure this landmark legislation, along with others assented to by the President, is fully implemented and achieves its intended goals for the benefit of the Nigerian people.
By Adedapo Adesanya
The Federal Ministry of Youth Development (FMYD), through the Nigerian Youth Academy (NiYA), has partnered with Cascador, a Nigeria-focused platform for growth-stage founders, to provide funding and support for the next generation of Nigerian youth entrepreneurs.
The announcement coincides with International Youth Day 2026, whose global theme this year — Different Contexts, Common Aspirations — calls on institutions to close the gap between young people’s circumstances and their opportunities. The pilot is an early step toward NiYA’s broader ambition to train and empower 7 million Nigerian youth within two years.
The NiYA and Cascador Founders Programme will begin with a pilot cohort of 20 early-stage Nigerian youth founders, including entrepreneurs without formal business registration or established financial records.
Over four weeks, participants will undergo intensive training focused on business fundamentals, investment readiness and pitch preparation. At the end of the programme, the eight top-performing founders will receive non-dilutive funding of up to N5 million each from Cascador, alongside an Enterprise Resource Planning (ERP) solution to help them structure, manage and scale their businesses.
The funding and support will be presented at a Pitch Day organised by NiYA and the Federal Ministry of Youth Development.
The Minister for Youth Development, Mr s Ayodele Olawande, said the partnership would enable NiYA to move beyond training by helping young people transform ideas into investable businesses and achieve sustainable economic participation through business preparation and access to capital.
“The pilot is deliberately designed to test a model that can go beyond one cohort. If young founders can be identified early, prepared properly, connected to credible capital and supported to build stronger business systems, then access to opportunity becomes less dependent on background or existing networks. That is the larger objective: to build a youth entrepreneurship ecosystem in which readiness, ideas and execution can increasingly determine who gets the opportunity to grow.”
The pilot will run in-person in Abuja with virtual touchpoints and 1:1 mentorship. All 20 graduates retain NiYA alumni status, with priority consideration for future opportunities.
NiYA and FMYD have already shown what real commitment to Nigeria’s youth looks like — the platforms, the reach, the ambition to train millions. What we’re building together now is the missing piece, a practical bridge from the ideation stage to real capital-readiness. When a Ministry so dedicated to its young people asked Cascador to help build that bridge, it was an easy decision,” said Trish Thomas, CEO of Cascador.
Ms Oyin Solebo, COO of Cascador and former Managing Director of the ARM Labs Lagos Techstars Accelerator, highlighted the partnership’s impact, saying, “This is what innovative capital deployment looks like: a government building real investment readiness at scale, and a partner meeting that foundational work with non-dilutive funding at exactly the moment it’s needed. Partnerships like this open doors that neither of us could open alone.”
