General
Smart Schools: EFCC Recovers N1.2bn from Sujimoto for Enugu
By Modupe Gbadeyanka
About N1.2 billion has been recovered from a prominent real estate company, Sujimoto Luxury Construction Limited by the Economic and Financial Crimes Commission (EFCC) and handed over to the Enugu State government.
Sujimoto Luxury Construction Limited is owned by Mr Olasijibomi Ogundele.
The EFCC handed over the money to the state government on Wednesday, January 21, 2026, after recovery from the company in line with its unwavering commitment to the fight against corruption, economic and financial crimes and the recovery of public funds misappropriated or unutilized by fraudulent actors.
Sujimoto was contracted by the Enugu State government for the construction of 22 smart schools in the state.
On February 11, 2025, the EFCC received a petition against Sujimoto, stating that the sum of N2.289 billion was paid to Mr Ogundele as an advance fee for the construction of the 22 smart schools in the State.
“As the completion date stated in the contract awards lapsed on January 2, 2025, the persistent non-performance of the contractor as shown by the documents, is clear evidence of intention to defraud the state government.
“We identify Ogundele as the Group Managing Director of the company and jointly liable for the refund of the state funds, following an irremediable breach of the terms of the contract and diversion of the project funds towards personal or other uses unconnected to the contract,” the petitioner said.
Reacting to the petition, operatives of the Special Task Fraud Section attached to the Enugu Zonal Directorate of the commission, swung into action and the sum of N1, 234,350,000 was recovered for the state government.
Representing the Executive Chairman of the EFCC, Mr Ola Olukoyede, during the handing over, the Zonal Director, Enugu Zonal Directorate of the Commission, Commander of the EFCC, Mr Daniel Isei, reiterated the commission’s commitment to recovering public funds.
“Where there are instances of economic and financial crimes against an individual or an agency of government, against government itself, the EFCC will ensure that every act that is contrary to law is dealt with, and where possible, restitution is made to the victim. It is on this basis that we received your petition as a state government that there was a case that needed EFCC to do as mandated by law. We are glad to announce to you that in doing our job, we have been able to recover some of those monies that were given to Sujimoto Construction,” he said.
While warning contractors, especially those entrusted with public funds to be mindful of the Procurement Act and be guided by integrity while handling public funds, Mr Olukoyede said that the commission will look at every facet of the petition against Sujimoto Luxury Construction Limited and ensure that every kobo of Enugu State government that is not accounted for, is traced, tracked, and recovered.
“Where cases of criminality are established, the EFCC will take further steps of prosecution. That must be clearly understood. For us, we will continue to expect that people align their activities to processes and procedures. People must work clearly in line with extant laws, particularly the Procurement Act. Also, it is very important that where due diligence is applied in all cases, prevention will come into play.
“I advise that we continue to entrench professionalism in all that we do and on the part of other Nigerians that will be doing contracts for local governments, state or the federal governments to ensure that they are always guided by integrity, accountability and transparency in all they do. Every public fund that is given out must be adequately utilized or accounted for, else, the EFCC will move in and ensure that issues of economic and financial crimes are speedily dealt with”, he said.
Receiving the draft on behalf of the Enugu State Government, Mr Onyia lauded the commission for its professionalism and dedication exhibited while recovering the money. He noted that when the state submitted the petition, there were lots of distractions in the public space but the EFCC maintained its professional posture, followed the money and thorough investigations were done.
“EFCC, we thank you for being very focused on helping us recover this fund. This, for us, is a remarkable testimony of intergovernmental collaboration and transparency,” he said.
General
NECA’s Annual Retreat for Business Managers, Executives Holds April 16
By Aduragbemi Omiyale
The annual retreat for business managers and executives organised by the Nigeria Employers’ Consultative Association (NECA) will take place from April 16 to 18, 2026, at the AAE & T Hotel, Kuto, Abeokuta, Ogun State.
This year’s edition is themed The Resilient Enterprise, People and Systems: Building and Managing Businesses that Outlive Seasons, Cycles and Crises.
The programme aims to equip leaders with the insights, tools, and networks required to build resilient organisations in an increasingly complex business environment.
It will provide a unique platform for executive-level engagement through high-level conversations, peer learning sessions with experienced leaders, strategy reflection workshops, and curated networking opportunities.
Expected to attend are industry leaders, senior executives, and business managers from across sectors. They will explore strategies for sustaining organisational performance through leadership transitions, economic cycles, regulatory shifts, and market disruptions.
Participants will also benefit from interactive discussions focused on strengthening corporate governance, developing agile leadership capabilities, and building organisational systems that can withstand periods of uncertainty and transformation.
A notice from NECA said the event is open to both members and non-members, with participation fees set at N300,000 for members and N320,000 for non-members. Discounts will also be available for Gold and Silver members, subject to applicable terms and conditions.
Interested participants are encouraged to register via the official registration link to secure their place at the retreat, which promises to deliver valuable insights and connections for executives seeking to build enterprises capable of thriving through seasons of change and uncertainty.
The Director-General of NECA, Mr Adewale Smatt-Oyerinde, noted that by convening business managers and senior executives in a collaborative learning environment, the association aims to contribute to the development of stronger, future-ready enterprises that can drive economic growth, create jobs, and support national development even in the face of evolving global and local challenges.
He added that the retreat will provide executives with the opportunity to step away from daily operational demands and engage in deeper strategic conversations with peers and industry experts.
“The theme of this year’s retreat speaks directly to the realities businesses face today. Across sectors, organisations are navigating leadership transitions, regulatory shifts, economic pressures, and technological disruption.
“What distinguishes enduring enterprises is their ability to build strong systems, develop capable leaders, and create organisational cultures that can adapt and respond effectively to change,” the NECA chief said.
General
Egbin Power Commissions 80 New Staff Housing Units
By Modupe Gbadeyanka
In further demonstration of its unwavering commitment to its workforce, Nigeria’s foremost power generation company, Egbin Power Plc, has unveiled 80 new residential housing units for employees within its plant premises in Egbin, Lagos State.
This comprises 40 fully furnished three-bedroom apartments and 40 furnished studio apartments, all designed to contemporary standards.
The units feature modern infrastructure and thoughtfully planned utilities, creating a safe, comfortable, and conducive living environment that supports both employee productivity and family well-being.
This strategic investment underscores the company’s philosophy that a well-supported workforce is fundamental to sustained operational excellence.
The new housing units are part of a holistic strategy to cultivate a stable, motivated, and future-ready workforce.
This strategy extends beyond infrastructure to encompass robust career development and recognition. Over the past three years, Egbin Power has promoted 112 employees across various cadres, reinforcing a culture that rewards merit, performance, and long-term dedication
“At Egbin Power, our people are our most valuable asset. Even amidst the prevailing liquidity and operational realities within the broader power sector, our focus on employee welfare has remained deliberate and consistent.
“This significant expansion of our residential estate is a tangible expression of that commitment.
“It is one of several key initiatives aimed at ensuring our employees feel genuinely supported, allowing them to thrive both personally and professionally,” the chief executive of Egbin Power, Mr Mokhtar Bounour, said.
Initiated in 2025 and completed in January 2026, this project is the latest milestone in Egbin Power’s structured and ongoing approach to enhancing employee welfare. It reflects the energy firm’s dedication to fostering a culture where every team member feels valued, secure, and motivated.
General
NGX Group, CSCS, WIMBIZ to Ring Bell for Gender Equality
By Aduragbemi Omiyale
On Tuesday, March 10, 2026, at the Nigerian Exchange Group House in Lagos, the role of capital markets in promoting gender equality will be reemphasised through the closing gong ceremony in commemoration of International Women’s Day 2026.
The ceremony is part of the global Ring the Bell for Gender Equality campaign, which mobilises stock exchanges worldwide to expand women’s participation in the economy and advance gender-inclusive practices.
In Nigeria, the NGX Group is partnering with the Central Securities Clearing System (CSCS) Plc and Women in Management, Business and Public Service (WIMBIZ) to make it memorable under the theme Rights. Justice. Action. For ALL Women and Girls.
Dignitaries expected at the ceremony include the Minister of State for Foreign Affairs, Mrs Bianca Odumegwu-Ojukwu; the First Lady of Imo State, Mrs Chioma Uzodimma; the Executive Commissioner for Legal and Enforcement at the Securities and Exchange Commission (SEC), Ms Frana Chukwuogor; foremost actor, Ms Funke Akindele; a Director at the NGX Group, Ms Ojinnika Olaghere; and another staffer of NGX Group, Mrs Fatima Wali-Abdulrahman, alongside board members of NGX Group, regulators, capital market stakeholders, and industry leaders.
NGX Group is joining other exchanges worldwide in sounding the NGX Gong to underscore the importance of inclusive leadership, equal opportunities, and stronger market accountability in advancing gender equality.
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