Connect with us

General

N805m Scam: EFCC Moves Senator Nwaoboshi from Hospital to Prison

Published

on

Senator Nwaoboshi

By Modupe Gbadeyanka

Mr Peter Nwaoboshi, the Senator representing Delta North in the National Assembly, has been taken to the Ikoyi Correctional Centre on Wednesday to commence his prison term.

Senator Nwaoboshi was convicted and sentenced to seven years imprisonment by the Lagos Division of the Court of Appeal for money laundering.

According to a statement from the Economic and Financial Crimes Commission (EFCC), the lawmaker was intercepted by its operatives at a hospital in Lagos on Monday, February 6, after months of avoiding them.

The Court of Appeal had, in a judgement, it delivered on July 1, 2022, sentenced him to prison after it convicted him on a two-count charge of money laundering and also ordered the winding up of his two companies, Golden Touch Construction Project Ltd and Suiming Electrical Ltd, in line with the provision of Section 22 of the Money Laundering Prohibition Act 2021, and their properties forfeited to the federal government.

But the lawmaker, who was not present in court at the time of the ruling, went underground and refused to present himself to the Nigerian Correctional Service. Instead, he proceeded to the Supreme Court, praying the apex court to not only set it aside the judgment of the appeal court but grant him bail, pending the determination of his appeal.

But in a unanimous decision on January 27, 2023, the apex court dismissed the application. In the lead judgement by Justice Emmanuel Agim, the apex court wondered why Nwaoboshi, who refused to submit himself to the law, would seek the indulgence of the law.

Justice Tijani Abubakar, in his contribution, upbraided the Appellant for filing the bail application while on the run.

“We must make it very, very clear to all Nigerians that nobody is above the law. The government and the governed are subject to the rule of law. And, we must ensure that there is respect for the rule of law”.

The Court of Appeal judgement that convicted Nwaoboshi followed an appeal by the EFCC against the judgment of Justice Chukwujekwu Aneke of a Federal High Court in Lagos, which had on June 18, 2021, discharged and acquitted the lawmaker and his companies.

Mr Nwaoboshi and his companies illegally acquired a property named Guinea House, Marine Road, in Apapa, Lagos, for N805 million. Part of the money paid for the property was transferred by Suiming Electrical Ltd on behalf of Nwaoboshi and Golden Touch Construction Project Ltd. The funds are believed to be proceeds of the illicit activities of the convict.

One of the counts reads: “That you, Peter Nwaoboshi and Golden Touch Construction Projects Limited, between May and June 2014, within the jurisdiction of this court, did acquire a property described as Guinea House, Marina Road, Apapa, Lagos, for the sum of N805 million, when you reasonably ought to have known that the sum of N322 million out of the purchase price transferred to the vendors by order of Suinming Electricals Limited formed part of the proceeds of an unlawful activity of fraud and you thereby committed an offence contrary  to Section 15(2) (d) of the Money Laundering Prohibition Act of 2011(as amended) and punishable  under Section (15)(3) of the same Act.”

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

Advertisement
1 Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

General

FG Begins February 2026 Salary Payments After Brief System Glitch

Published

on

FG february salary payments

By Adedapo Adesanya

The Office of the Accountant-General of the Federation (OAGF) has commenced payment of February 2026 salaries to federal government workers paid through the treasury.

The office said payments began on Monday, March 2, 2026, following a brief delay caused by a technical issue in the payment system.

The office’s Director of Press and Public Relations in the OAGF, Mr Bawa Mokwa, explained that the problem responsible for the delay had been resolved and measures had been put in place to prevent a recurrence.

“The delay in the payment of the February 2026 salaries was due to a technical hitch, and it has been tackled, and necessary measures have been put in place to prevent a recurrence,” Mr Mokwa said.

The development means that thousands of federal civil servants across ministries, departments and agencies will begin receiving their February salaries.

The OAGF also disclosed that it has completed the payment process for one month of the outstanding wage award arrears owed to federal workers.

According to the office, the payment was made after the necessary approval was received to begin clearing the arrears.

The statement explained that the payment represents one month out of the three months of wage award arrears still outstanding.

The wage award was introduced by the federal government under President Bola Tinubu as a temporary measure to ease financial pressure on workers following economic reforms that increased the cost of living.

In August 2025, the government began paying the second tranche of the N35,000 wage award arrears to civil servants as part of efforts to fulfil its commitments to workers.

The N35,000 monthly wage award was introduced after the removal of petrol subsidies and other economic reforms that affected household expenses across the country.

The measure was agreed during negotiations between the Federal Government and organised labour as temporary support for workers while discussions on a new minimum wage structure continued.

However, concerns had recently emerged in some quarters that the government might have abandoned the wage award payments.

The Accountant-General’s office dismissed the claims, insisting that the government remains committed to settling the outstanding arrears.

“The Federal Government has not reneged on its obligation. The wage award arrears will continue to be paid in instalments of N35,000 per month until the outstanding balance is completely settled,” the statement said.

The OAGF noted that the phased payment approach would enable the government to meet its obligations to workers while managing its financial commitments.

The issue of wages and workers’ welfare has remained a major topic in discussions between the government and labour unions amid rising living costs driven by inflation and ongoing economic adjustments.

Continue Reading

General

IIF Takes Step to Operationalise Gender-Smart Investing

Published

on

Gender-Smart Investing

By Aduragbemi Omiyale

A decisive step aimed at operationalising its Gender Equity and Social Inclusion (GESI) roadmap has been taken by the Impact Investors Foundation (IIF).

Last week, the organisation organised a high-level workshop in Lagos to equip institutions with the tools, standards, and data necessary to integrate GESI into capital allocation decisions.

In attendance for this programme were investors, policymakers, development partners, and private sector leaders.

The Nigeria Gender-Smart and Inclusive Capital workshop served as a critical component of the broader implementation strategy initiated after the launch of Nigeria’s Gender/GESI Roadmap at the 2025 Gender Impact Investment Summit.

“Following the landmark launch of Nigeria’s Gender/GESI Roadmap in 2025, this workshop represents the essential next strategic step in our journey towards a truly inclusive financial ecosystem,” the chief executive of IIF, Ms Etemore Glover, told participants.

“It is not enough to have a roadmap; we must now begin to operationalise it through institutional transformation that goes beyond mere policy alignment.

“This phase is critical because it moves us past advocacy and into the rigorous work of implementation, ensuring that organisations begin to intentionally deploy strategies to bridge the gaps that have historically sidelined women and marginalised groups,” she added.

Ms Glover submitted that, “With growing evidence that diverse and inclusive enterprises outperform their peers in risk management, innovation, and long-term value creation, Nigeria’s push to operationalise gender-smart investing reflects both a moral imperative and a significant market opportunity.”

A central highlight was a technical deep dive into the Gender/GESI Roadmap, presented by a Partner from PwC. The roadmap provides a structured approach to embedding gender-smart principles across the entire investment lifecycle: deal sourcing, by identifying women-led or gender-diverse enterprises; due diligence, through assessing GESI-related risks and opportunities; portfolio management, by strengthening inclusive governance; and exit strategies, which focus on ensuring long-term impact sustainability.

Investment and sustainability professionals from Verod Capital at the event shared practical strategies for embedding GESI metrics into governance systems. Additionally, a case study from Alitheia Capital illustrated how gender-lens investing drives both financial performance and measurable social impact.

Further, experts from 2X Global and Moremi Capital delivered sessions on the Foundations of Gender-Smart Investing, contextualising global standards such as the 2X Criteria for the Nigerian investment landscape.

These discussions demonstrated how investors can intentionally benefit women-led businesses, women in leadership, and women as value chain participants.

Organisations were charged with embedding gender-smart principles into their core operations to unlock Nigeria’s full economic potential, effectively turning the roadmap into the standard for investment in the nation’s future.

Continue Reading

General

Why News Matters More Than Ever

Published

on

Why News Matters

For many people, the relationship with news begins with resistance. As children, news channels felt slow, serious, and far removed from the world we know. They interrupt cartoons and movies, filling the screen with long conversations about politics, crises, and distant places. It is perceived as heavy, formal, and intended only for adults, not for young minds seeking entertainment or fun.

Over time, the value of news becomes clear. Most people want to stay informed, understand context, and gain insight into the events that shape society. News moves beyond reports and statistics to provide essential information for making sense of the world.

News Today Fits Into Life, Not the Other Way Around

Modern audiences no longer consume news the way previous generations did. Attention spans are shorter, schedules are busier, and habits are more flexible. People want updates without commitment and access without pressure. News now adapts to everyday life; it can be a quick headline in the morning, a background update while working, or a detailed story in the evening. It meets audiences where they are, not the other way around.

This is where GOtv excels. GOtv offers a wide range of local and international news channels that allow viewers to stay informed in the way that suits them best. Whether it’s a casual check-in, following major developments throughout the day, or deep-diving into global affairs at night.

Local Stories: Global Perspective

The news landscape on GOtv reflects the world audiences live in, fast-moving, interconnected, and diverse. National channels such as Channels Television and ARISE News cover stories that directly impact Nigeria and Africa, from politics and economy to social trends and culture. Meanwhile, international networks like CNN and Al Jazeera provide a broader lens, connecting viewers to global events and discussions that influence nations and societies. Together, these channels give viewers a comprehensive understanding of the world, offering multiple perspectives rather than a single narrative.

When News Finally Makes Sense

There comes a point where news stops feeling like background noise and starts feeling relevant. It matters when decisions need to be made, when conversations require context, and when understanding the world becomes part of everyday life. It becomes clear why adults value it so much because being informed equips people to engage, respond, and make sense of the complex world around them.

GOtv understands that news consumption evolves. It meets audiences at different stages, from casual viewers who want a simple update to engaged viewers seeking deeper analysis and informed discussion. Growing up isn’t about suddenly loving news channels; it’s about realising that staying informed is no longer optional. It’s a conscious choice, a way to connect with the world, and a tool to navigate life’s complexities.

With GOtv, news is no longer something you’re forced to watch. It becomes a choice,  a way to stay connected to both local and global stories that matter.

For easy access, viewers can tune in to Channels Television on Channel 27, ARISE News on Channel 24, CNN on Channel 72, and Al Jazeera on Channel 71.

To subscribe, upgrade, or reconnect, download the MyGOtv App or dial *288#. You can also stream anytime with the GOtv Stream App.

Continue Reading

Trending