General
N805m Scam: EFCC Moves Senator Nwaoboshi from Hospital to Prison
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.”
By Adedapo Adesanya
Abuja Electricity Distribution Plc has announced its transition into a Holding Company structure, effectively breaking into two subsidiaries.
This is part of moves aimed at strengthening its capacity to operate effectively within Nigeria’s evolving electricity market and the newly decentralised regulatory environment.
In a statement, the Holdco said restructuring followed the enactment of the Electricity Act of 2023, which empowers state governments to establish independent electricity markets and regulatory commissions.
AEDC said it had realigned its corporate structure to enhance operational agility, improve governance, and support efficient service delivery across its franchise areas.
As part of the transformation, AEDC incorporated two new subsidiary companies — Niger Electricity Distribution Company and Kogi Electricity Distribution Company.
Prior to the new development, AEDC distributes electricity to the Federal Capital Territory (FCT) and parts of Niger, Kogi, and Nasarawa states.
As a result, the new subsidiaries will operate under the Niger State Electricity Regulatory Commission and the Kogi State Electricity Regulatory Commission, respectively, while remaining integral members of the wider AEDC Group.
It added that plans were underway to commence operations in Nasarawa State, with the transition process expected to begin soon.
The company also announced key executive appointments, naming Mr Sam Odekina as Chief Business Officer and Acting Managing Director of Niger Electricity Distribution Company, and Mr Desmond Eboh as Chief Business Officer and Acting Managing Director of Kogi Electricity Distribution Company.
The Managing Director/Chief Executive Officer of AEDC, Mr Chijioke Okwuokenye, said the HoldCo structure positions the company to respond to state-specific regulatory requirements while preserving the Group’s unified identity, shared values, and commitment to operational excellence and customer service.
According to him, all subsidiaries will operate as one integrated AEDC family, with uniform Conditions of Service for employees to ensure workforce stability and fairness.
“The HoldCo structure aligns perfectly with our goal to enhance operational efficiency and adapt to Nigeria’s evolving energy landscape while exploring new opportunities, driving growth, and contributing to Nigeria’s energy sector development,” Mr Okwuokenye said.
“We are committed to maintaining our high standards of service, innovation, and customer focus, even as we evolve into a new structure,” he added.
The company also noted that the recently executed Conditions of Service apply uniformly to all employees across the parent company and its subsidiaries, underscoring its commitment to workforce stability, fairness, and alignment during the transition.
AEDC also reaffirmed its commitment to supporting the development of sustainable, state-regulated electricity markets and setting benchmarks for efficiency, reliability, and customer experience across its operations.
By Adedapo Adesanya
The federal government has dismissed claims by the Northern Elders Forum (NEF) that it violated the principle of federal character by siting a gold refinery in Lagos.
This was contained in a statement signed by Mr Segun Tomori, the Special Adviser on Media to the Minister of Solid Minerals Development, Mr Dele Alake, in Abuja.
The statement clarified that the refinery is a wholly private-sector initiative and not a federal government project, describing the allegation as entirely false and based on a misrepresentation of facts.
According to the statement, the proposed gold refinery is the initiative of Kian Smith, a 100 per cent privately owned mining company established to promote the development of Nigeria’s local gold industry through innovative practices.
The statement stressed that at no time did the Minister of Solid Minerals Development. announced the establishment or ownership of any gold refinery by the federal government in Lagos or any other part of the country.
It added that the minister was clear that the refinery is privately owned, noting that more gold refineries are also being developed in other parts of Nigeria by private investors.
It congratulated the founder and managing director of Kian Smith, Mrs Nere Emiko, describing the project as the result of years of perseverance, enterprise, and leadership.
The statement explained that the refinery aligns with the federal government’s value-addition policy, which discourages the export of raw minerals and promotes local processing and manufacturing.
It noted that the policy has attracted major investments, including lithium and rare-earth processing plants in Nasarawa State and Abuja, generating foreign capital inflow and thousands of jobs for Nigerians.
It expressed concern over what it described as a decline in the quality of the group’s interventions on national issues, questioning how the federal government can compel a private company to locate its business in any particular part of the country, noting that such decisions are based on operational and marketing strategies.
The statement reaffirmed the government’s commitment to creating an enabling environment for private-sector investment in the mining sector and called on the Northern Elders Forum to support national economic development efforts.
By Adedapo Adesanya
The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against Nigeria’s governors and the Minister of the Federal Capital Territory, Abuja (FCT), Mr Nyesom Wike, over their failure to account for security votes spending since May 29, 2023.
According to the organisation, the suit followed reports of the Benue massacre and well-documented ongoing cases of insecurity in several states and FCT, despite the over N400 billion budgeted yearly as ‘security votes.’ 10 governors reportedly budgeted about N140 billion as security votes in 2026.
In the suit number FHC/ABJ/CS/95/2026 filed last Friday at the Federal High Court in Abuja, SERAP is asking the court to “direct and compel the governors and Mr Wike to disclose the details of the spending of security votes by them since 29 May 2023 to date, which are intended to ensure the security of life and property of Nigerians.”
It asked the court to compel the governors and Mr Wike to provide detailed reports on the allocation and spending of security votes by their states and the FCT, including the information on implementation status and completion reports, and the plans, if any, for improving the security infrastructure in the states and FCT.
In the suit, SERAP is arguing that, “Nigerians ought to know in what manner public funds including security votes meant to ensure the security of life and property of Nigerians, are spent by the governors and FCT minister.”
It noted that escalating insecurity in several states and FCT is taking a devastating toll on socially and economically vulnerable Nigerians, driving up extreme poverty, intensifying hunger and leading to other grave human rights violations.
SERAP also noted that, “Citizens’ right to know promotes openness, transparency, and accountability that is in turn crucial for the country’s democratic order.”
The suit filed on behalf of SERAP by its lawyers Ms Oluwakemi Agunbiade, Mr Andrew Nwankwo, and Ms Valentina Adegoke, read in part: “There is a significant risk of embezzlement, misappropriation or diversion of public funds collected by the states and FCT as security votes.
“Despite the billions of naira yearly budgeted as security votes, many governors and FCT ministers are grossly failing to guarantee and ensure the security and welfare of the Nigerian people, contrary to section 14(2)(b) of the Nigerian Constitution.
“Directing the governors and FCT minister to account for security votes spending would serve to engage Nigerians in an honest conversation about the security problems and what the governors and minister are doing to respond to them.”
No date has been fixed for the hearing of the suit.
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