General
Minister Tasks Editors On Change Agenda
The Minister of Information and Culture, Alhaji Lai Mohammed, has commended the Nigerian Guild of Editors (NGE) for being part of the on-going determined efforts to tackle the various challenges facing the country, especially in the area of the economy.
Speaking at the All Nigerian Editors Conference (ANEC) 2016 in Port Harcourt on Thursday, the Minister however urged the Editors to do more by becoming the Champions of Change.
”Permit me to start my remarks by commending the Nigerian Guild of Editors for the well-thought-out theme for this 2016 Conference, which is ”Economic Diversification: Agriculture as an option for a prosperous Nigeria”. As you are all very much aware, Agriculture is one of the sectors we have identified in our economic diversification programme, aimed at moving the country away from a mono-product, oil-based economy, under our Change Mantra.
”It is therefore delightful that you have chosen to deepen the discourse by the choice of your theme for this conference. Even more impressive is the fact that Editors have taken up the challenge of contributing their quota to the ongoing efforts by this Administration to revamp the economy and return Nigeria to the path of sustainable growth and development,” he said.
Alhaji Mohammed however said the NGE in particular and the media in general must do more by becoming the Champions of Change
”What I am saying in essence is that while the media owes it as a duty to keep Nigerians well informed about the situation in the country, it must do so in context. We are not saying we should continue to lament about missed opportunities, the massive corruption or profligacy of the past, but is it is important for Nigerians to know where and when the rain started beating them, that no provision was made for any umbrella to shield them from the elements, and that indeed genuine efforts are now being made to turn things around.
”One of such efforts is the unprecedented massive investment in infrastructure – roads, railways, power, etc. Road Contractors have been mobilised to sites, many of them long abandoned. Any contractor who is not on site is waiting for the rains to stop, not due to lack of funds. The Administration has kick-started the programme to link all state capitals by rail. All these efforts are creating jobs and putting money in the pockets of Nigerians.
”We must give hope to our people, while also giving encouragement to those who are working non-stop to revamp our economy. In one country that failed to save for the rainy day like Nigeria did, citizens now have to cross to neighbouring countries to get essential commodities. The only reason we have averted such fate here is the committed, honest and disciplined leadership provided by President Muhammadu Buhari, the prudent management of the little resources that are accruing to the country now, thanks to the Treasury Singles Account, the unrelenting war against corruption, the rooting out of ghost workers and the increasing emphasis on agriculture that is sure to massively reduce our scandalously-high food imports in a short while,” he said.
The Minister said Nigeria’s economy is hard hit by the fall in the price of crude oil because the country failed to save for the rainy day, coupled with the fact that the country did not invest in infrastructure
”Nigeria has nothing to rely on to cushion the effects of the lost earnings. Many other oil producing countries and fellow OPEC members are faring better, because they saved for the rainy day. Saudi Arabia, with about one fifth of Nigeria’s population, has in foreign reserves about 600 billion dollars (which is 23 times what Nigeria has in foreign reserves). United Arab Emirates, with less than 10 million people, has 75 billion dollars in foreign reserves. Qatar, with 2.4 million people, has 36 billion dollars in foreign reserves. Even Angola, with just 24 million people, has about 25 billion dollars in foreign reserves.”
”Here in Nigeria, with oil selling consistently for over 100 dollars a barrel for many years, we simply failed to save for the rainy day, with the result that a country with a population of over 170 million today has just 26 billion dollars in foreign reserves. To compound this, the fall in the price of crude is having a ripple effect: the scarcity of forex, which has resulted from the oil price crash, means that industries are struggling to get forex to import raw materials and machinery. With falling imports, the Customs Service, which is another source of revenue, is collecting fewer duties. Taxation is also affected, as industries with no forex to import can neither employ more people nor produce more goods. Then, Nigeria has had to fight an existential battle to root out Boko Haram in the North-east,” he said.
By Adedapo Adesanya
A Federal High Court sitting in Abuja has fixed January 7 to hear the bail application of former Attorney General of the Federation and Minister of Justice, Mr Abubakar Malami, over alleged money laundering.
Recall that the same court had ordered the remand of Mr Malami at the Kuje Correctional Centre.
The Senior Advocate of Nigeria, his son, Abdulaziz, and one of his wives, Mrs Bashir Asabe, are standing trial predicated on a 16-count charge preferred against them by the Economic and Financial Crimes Commission (EFCC).
The trio, who are accused of laundering N8.7 billion, pleaded not guilty to the charges when they were arraigned on December 29, 2025.
Following their plea of not guilty, Justice Emeka Nwite ordered their remand at Kuje Correctional Centre till January 2, 2026, when their written bail application would be argued by his legal team.
In the charge, identified as FHC/ABJ/CR/700/2025, the defendants were accused of conspiring to conceal, disguise, and retain proceeds from illegal activities.
The indictment claimed that they used multiple bank accounts, corporate entities, and high-value real estate transactions over nearly ten years to indirectly acquire the illicit funds.
According to the charge sheet, the alleged offences took place between 2015 and 2025, primarily within the Federal Capital Territory, Abuja, during Malami’s time as the country’s Attorney-General.
The EFCC alleged that Malami and his son used Metropolitan Auto Tech Limited to hide N1.014 billion in a Sterling Bank account from July 2022 to June 2025.
They were also accused of depositing an additional N600.01 million between September 2020 and February 2021.
The properties in question include a luxury duplex on Amazon Street, Maitama, purchased for N500 million; a property on Onitsha Crescent, Garki, bought for N700 million; and another in Jabi District for N850 million.
Additional acquisitions include real estate on Rhine Street, Maitama (N430 million); in Asokoro District (N210 million and N325 million); and at Efab Estate, Gwarimpa (N120 million).
The EFCC further alleges that Mr Malami used unlawful proceeds totaling N952 million to acquire multiple properties in Abuja, Kano, and Birnin Kebbi between 2018 and 2023.
The acquisitions were allegedly made through proxies and corporate entities to obscure ownership.
The commission claimed that the alleged actions violate the provisions of the Money Laundering (Prohibition) Act, 2011 (as amended) and the Money Laundering (Prevention and Prohibition) Act, 2022.
By Adedapo Adesanya
The Nigeria Association of Plant Operators (NAPO) has petitioned the Economic and Financial Crimes Commission (EFCC) to investigate allegations of tax deduction and non-remittance fraud linked to the NLNG Train 7 project.
Train 7 is a major expansion project of the Nigeria Liquefied Natural Gas (NLNG) facility on Bonny Island, Rivers State, Nigeria. It involves building a seventh “train” (processing unit) at the LNG plant to significantly increase Nigeria’s LNG production capacity and strengthen the country’s role as a global supplier of cleaner energy.
NAPO’s President General, Mr Harold Benstowe, alongside four other officials, appeared at the EFCC Port Harcourt Zonal Office in Port Harcourt, to adopt a petition accusing Daewoo Engineering & Construction Nigeria and others of alleged unlawful tax deductions from workers on the multibillion-dollar NLNG Train 7 gas plant construction project.
According to NAPO, the EFCC received the delegation and guided them through the formal adoption of the petition, paving the way for what the union described as a “proper forensic investigation” into the alleged financial misconduct.
“The EFCC has assured the victims that it will conduct a thorough investigation to get to the root of the matter,” Mr Benstowe said, describing the development as a major step toward accountability in the construction segment of Nigeria’s oil and gas industry.
It also raised that the allegations strike at the heart of compliance risks surrounding one of Nigeria’s most strategic gas investments, with potential implications for contractors, regulators and investor confidence in large-scale energy projects.
Mr Benstowe called on workers involved in the NLNG Train 7 project to actively support the investigation by submitting documentary evidence, particularly payslips allegedly showing tax deductions by Daewoo E&C Nigeria.
“We encourage all affected workers to freely come forward with more evidence to assist the EFCC in carrying out a comprehensive investigation,” he said.
He also dismissed reports of intimidation, warning that the union would resist any attempts to suppress whistleblowers.
“All victims should ignore threats or discouragement from any quarters. This is no longer business as usual. We are prepared for a big showdown to ensure everyone involved is brought to book,” Mr Benstowe declared.
The NAPO leader framed the petition as part of a broader struggle for financial transparency and workers’ rights in Nigeria’s oil and gas construction value chain, stressing that the outcome would send a strong signal to contractors operating on high-value energy projects.
By Adedapo Adesanya
The Nigeria Revenue Service (NRS) has unveiled its institutional brand identity as it officially transition from the Federal Inland Revenue Service (FIRS) to the newly established revenue collection agency as gazetted.
The transition was marked with the unveiling of the agency’s new logo, according to a statement from Mr Dare Adekanmbi, special adviser to the chairman of NRS, Mr Zacch Adedeji.
Speaking at the unveiling event in Abuja on Wednesday, Mr Adedeji said the new identity represents a significant milestone in the evolution of Nigeria’s revenue administration framework.
The taxman said the unveiling reflects a renewed commitment to a more unified, efficient, and service-oriented revenue system aligned with Nigeria’s economic transformation agenda and global best practices.
He said the new identity signals continuity of purpose, strengthened institutional capacity, and a forward-looking approach to supporting taxpayers and national development.
According to the statement, the NRS said it remains committed to transparency, partnership, and service excellence.
“The unveiling of this new identity represents not an end, but the beginning of a strengthened relationship between the revenue authority and the Nigerian public—built on trust, clarity, and shared prosperity,” the statement reads.
It was also stated that the service came into operation following the signing of its enabling law — the Nigeria Revenue Service Establishment Act 2025 — by President Bola Tinubu in June.
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