General
Obiano Pleads Not Guilty, Granted Bail in N4bn Fraud Case
By Adedapo Adesanya
The Economic and Financial Crimes Commission (EFCC) has charged the former Governor of Anambra State, Mr Willie Obiano, with money laundering offences involving an allegation of stealing over N4 billion from the state’s security vote account.
However, he denied the charges contained in nine counts during his arraignment before the trial judge, Justice Inyang Ekwo, of the Federal High Court in Abuja, on Wednesday.
The judge granted him bail, ordering him not to leave the country unless with the express permission of the court throughout his trial and fixed March 4 for the commencement of trial.
Mr Obiano, who was governor from March 2014 to March 2022, allegedly diverted the money from the state’s account dedicated to security funds in his last five years in office.
He was accused of directing the diversion of the total N4,006,573,350 from the state’s account between April 2017 and March 2022, and spent the money for “purposes unrelated/unconnected with the security affairs of Anambra State”.
The funds, according to EFCC, were diverted through companies “that had no business relationship with the Anambra State Government,” converted to Dollars and handed over to the former governor in cash.
The former governor allegedly stole the money over five years by instructing his Chief Protocol Officer/Deputy Chief of Staff, Mr Uzuegbuna Okagbue, to transfer on various occasions various sums of money from the state government’s security vote account with Fidelity Bank into the account of the various companies.
The case, filed through EFCC’s lead prosecuting counsel, Mr Sylvanus Tahir, a Senior Advocate of Nigeria, on January 15, detailed the nine companies allegedly used to divert the funds from the state government’s security vote account.
Each of the nine counts disclosed the amount a company received and the period it received it from the state government’s account.
The EFCC alleged in Count 1 that, from February 16, 2018, to March 9, 2018, an aggregate sum of N223,371,000 was paid from the security vote account into the account of Connought International Services Limited.
Count 2 alleged that from October 30, 2018, to November 13, 2018, a total sum of N95 million was paid from the security vote account into the bank account of S.Y. Panda Enterprises.
In Count 3, EFCC alleged from April 11, 2017, to June 21, 2019, a total of N416,000,000 was diverted from the security vote account into the account of Zirga Zirga Trading Company Limited.
In Count 4, the anti-corruption agency alleged that from February 13, 2018, to March 2, 2022, a total of N1,206,760,310 was paid into the account of Moment of Peace Ventures.
The commission similarly alleged in Count 5 that from April 5, 2018, to May 28, 2019, an aggregate sum of N860,716,200 was paid into the account of Youdooh Ventures.
Also in Count 6, EFCC alleged that from January 28, 2020, to January 15, 2021, a total sum of N659,112,900 was paid to Nazdal Ventures.
The commission alleged in Count 7 that from February 7 2018 to February 18, 2019, C.I Patty Ventures Nigeria Limited received a total sum of N156,800,000.
In Count 8, the anti-graft agency alleged that from August 9, 2017, to March 4, 2020, Easy Diamond Integrated Link received a total of N261,268,585 from the state’s security vote account.
In Count 9, the agency alleged that from October 16, 2017, to January 3, 2018, a total sum of N127,544,355 was paid from the security vote account of Anambara State Government into the account of Xpress Consult Nig. Limited.
EFCC alleged that the funds, much of which were converted to dollars and handed over to Mr Obiano in cash “were dissipated for purposes unrelated/unconnected with the security affairs of Anambra State.”
The counts detailed how the money was paid in tranches over time from the Anambra State Government Security Vote Account domiciled at Fidelity Bank into the accounts of nine companies allegedly used for the diversion.
Much of the funds they paid into the bank accounts of the companies were converted into dollars and handed over to the former governor.
It was reported that hours after Mr Obiano handed over as Anambra State Governor on 17 March 2022, EFCC had arrested him at the Murtala Muhammad International Airport, Lagos, as he was preparing to board a flight to Houston, the United States.
By Modupe Gbadeyanka
President Bola Tinubu on Saturday, January 11, 2025, left the shores of Nigeria for the United Arab Emirates to take part in the 2025 Abu Dhabi Sustainability Week (ADSW 2025).
He was accompanied by the Minister of Foreign Affairs, Mr Yusuf Tuggar, and other senior government officials.
A statement issued by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, disclosed that Mr Tinubu was invited for the event by his UAE counterpart, Mr Mohamed bin Zayed Al Nahyan.
He will attend the programme starting from today, Sunday, January 12 to Saturday, January 18, 2025.
However, President Tinubu is expected to return to Nigeria before the end of the summit on Thursday, January 16, 2025.
The event, themed The Nexus of Next; Supercharging Sustainable Progress, is expected to bring together global leaders to accelerate sustainable development and advance socioeconomic progress.
In addition, it will enable policymakers, business, and civil society leaders to explore pathways to fast-track the transformation to a sustainable economy and evolve a new era of prosperity for all.
ADSW, a testament to the power of collaboration, has been held annually for over 15 years. It provides a global platform to foster multi-stakeholder cooperation in addressing global challenges and accelerating growth.
It has birthed high-value agreements and strategic partnerships between governments, industry leaders, and clean energy pioneers worldwide, driving impactful alliances and advancing the sustainability agenda worldwide.
At the event, President Tinubu will stress his administration’s reforms, including those related to energy sufficiency, transportation, public health, and economic development.
The Nigerian leader and his entourage will also meet with the emirate’s leadership to discuss issues of interest affecting the two nations.
By Dipo Olowookere
The Speaker of the Lagos State House of Assembly, Mr Mudashiru Obasa, remains at the centre of a storm of corruption allegations that have plagued his tenure.
Critics, anti-corruption groups, and opposition leaders have accused him of financial mismanagement, extravagant spending, and abuse of office, yet no substantive action has been taken against him.
Recent reports by People’s Gazette revealed that the 40-member Lagos State House of Assembly, under Mr Obasa’s leadership, spent over N43 billion on “back-up vehicles for honourable members” between January 2023 and the third quarter of 2024.
This expenditure, part of a larger N90.5 billion disbursed for questionable projects, has raised concerns among Lagos residents about the state’s priorities amid widespread economic hardship.
Budget documents showed the Assembly spent about N30.1 billion on vehicles in 2023 and about N13.3 billion in the first three quarters of 2024. Critics argued that these sums, which equate to roughly N1.1 billion per lawmaker, were frivolous.
Mr Obasa has faced allegations of corruptions since early in his tenure, including reports of owning over 60 bank accounts used to misappropriate public funds. In 2019, People’s Gazette reported that the lawmaker conducted suspicious foreign exchange transactions totaling $2.4 million (N1.1 billion). These funds were allegedly funneled through personal accounts and mutual fund investments.
In October 2020, the Economic and Financial Crimes Commission (EFCC) invited the Speaker for questioning over allegations of fraud. Despite evidence of financial impropriety, including allegations of inflated contracts and misappropriated Assembly funds, the EFCC has yet to take decisive action. Protests led by civil society groups like the Civil Society Network Against Corruption (CISNAC) demanding accountability have yielded little progress.
Mr Obasa has consistently denied these allegations. Speaking at a recent plenary, he dismissed claims of spending N17 billion on constructing a gate as “spurious and funny.”
He also refuted allegations of spending N200 million on a nonexistent thanksgiving service, attributing the accusations to political fear-mongering ahead of the 2027 elections.
However, critics have dismissed these defenses as self-serving. A 2020 House panel, composed of Mr Obasa’s allies, cleared him of wrongdoing—a decision labeled a “kangaroo judgment” by anti-corruption advocates.
Prominent anti-corruption campaigner, Mr Olanrewaju Suraju, has urged the EFCC to act on the mounting evidence against Mr Obasa, warning that his actions undermine legislative independence and public trust.
“These revelations justify the urgent need for mechanisms to enforce probity and accountability in public office,” Mr Suraju said.
Despite the scandals, Mr Obasa appears unperturbed and untouchable, with analysts attributing his survival to political connections and an entrenched culture of impunity.
As Lagos State prepares for the 2027 elections, the Speaker’s continued tenure symbolizes a broader challenge of corruption and governance in Nigeria’s political landscape.
Observers now await further developments as pressure mounts on anti-graft agencies to act decisively.
For Lagos residents, however, the scandals highlight a troubling disconnect between political leadership and the needs of the people.
By Modupe Gbadeyanka
Residents of Nigeria experienced a power outage on Saturday, January 11, 2025, after the national grid collapsed.
It was the first that occurred this year and it happened at about 3 pm today, according to information gathered by Business Post.
Last year, the nation recorded about 12 grid collapse that almost embarrassed the government, which later set up a team to look into the causes of the frequent collapse of the grid.
It was later that today’s incident occurred after power generation went down from 2,111.01 megawatts at 2:00 pm to about 390.20 megawatts by 4:55 pm.
This development caused a cut in power supply in most parts of the country, but the situation has been brought under control, with electricity restored in most affected areas.
-
Feature/OPED5 years agoDavos was Different this year
-
Travel/Tourism8 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz2 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years agoSort Codes of GTBank Branches in Nigeria
-
Economy2 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking2 years agoFirst Bank Announces Planned Downtime
-
Sports2 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
-
Technology4 years agoHow To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN