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Breaking: Signatures of both mine and Buhari were forged to withdraw $6.2m from CBN, says Boss Mustapha

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The immediate past Secretary to the Government of the Federation, SGF, Mr. Boss Mustapha, on Tuesday, appeared as a witness in the ongoing trial of the former Governor of the Central Bank of Nigeria, CBN, Mr. Godwin Emefiele, before an Abuja High Court sitting at Maitama.

Mustapha, who mounted the box and testified as the fourth prosecution witness, PW-4, revealed to the court that both his signature and that of former President Muhammadu Buhari, was forged by those that withdrew $6,230,000 from the vault of the apex bank on February 8, 2023.

He told the court that he was neither aware nor took part in any correspondence that led to the withdrawal of the fund which was allegedly meant for the payment of foreign election observers.

Led in evidence by counsel to the Economic and Financial Crimes Commission, EFCC, Mr. Rotimi Oyedepo, SAN, the former SGF maintained that documents that authorised the withdrawal of the money, neither emanated from his office nor the presidency.

He equally denied receiving any amount from the said money.

While faulting the authorization letter that was purportedly issued from his office, Mustapha, told the court that it was not the business of the federal government or the office of the SGF to request funds from the CBN for the payment of foreign election observers.

He said the responsibility of relating with such observers was solely that of the Independent National Electoral Commission, INEC.

While distancing himself from the withdrawal, the witness, said: “My lord, all through my service year as the SGF, I never came across these documents.

“It was claimed that Buhari also signed, but on the face value of this document, having served for five years and seven months as SGF, this document did not emanate from the president for the following reasons.

“A correspondent that has the seal of Nigeria does not carry a reference number. The seal is the authority.

“Secondly, I have looked at it and read the document. Federal Executive Council, FEC, decisions are not transmitted by letters. They are transmitted through extracts after conclusions are adopted.

“Thirdly, I am the custodian of FEC, the president will not refer executives’ conclusions to me.

“Also, in all the five years and seven months I stayed in office, I never heard of the term ‘Special Appropriation Provision’, referred to me.

“The terms known to me my lord are appropriation as provided by the Appropriation Act, which is normally passed by the National Assembly. When the government file drafts, it brings Supplementary Appropriation.

“In all the correspondences I have received from Buhari, it has never had or ended with: ‘Please accept the assurance of my highest regard.’

“I am his subordinate. My correspondences do not carry that.

“And lastly, looking at the signature, it is a failed attempt at reproducing Buhari’s signature. I will leave that to the experts,” he added.

An official of the apex bank, Mr. Onyeka Ogbu, had earlier in his testimony, told the court that the money was withdrawn and handed in cash to an official from the office of the SGF, named Jibril Abubakar.

He said the action was backed by approvals by both President Buhari and the embattled former CBN governor, Emefiele, following a request by the ex-SGF, Mustapha.

However, in his evidence, the former SGF told the court that he never knew the said Abubakar, adding that he was not a staff in his office.

He equally told the court that contrary to the claim in the letter, President Buhari did not preside over the FEC meeting on the day the purported approval was given, but the then Vice President, Prof. Yemi Osinbajo, SAN.

Meanwhile, trial Justice Hamza Muazu has adjourned further hearing in the matter till March 7.

The former CBN governor is answering to an amended 20-count charge the EFCC preferred against him.

The charge against him borders on criminal conspiracy, forgery, breach of trust and the allegation that he conferred undue advantage on himself.

Specifically, EFCC accused the defendant of obtaining about $6.2million through false pretence, alleging that he falsely represented the SGF.

He was accused of committing an offence that was in contravention of Section 1(1) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and punishable under Section 1(3) of the same Act.

According to the amended charge, marked: CR/577/2023, Emefiele, on February 8, 2023, connived with one Odoh Ocheme, who is now on the run, to obtain $6.2m from the CBN, claiming that it was requested by the SGF “vide a letter dated 26th January 2023 with Ref No. SGF.43/L.01/201.”

EFCC alleged that the defendant, in January 2023, forged the document titled: “RE: PRESIDENTIAL DIRECTIVE ON FOREIGN ELECTION OBSERVER MISSIONS.”

It further alleged that contract for the renovation of the CBN Governor’s lodge, located at No. 2 Glover Road, Ikoyi, Lagos, was awarded to a company named Messrs Architekon Nigeria Limited, wherein Emefiele’s wife and brother in-law, were directors and majority shareholders.

Offences the defendant committed, according to the EFCC, contravened sections 17, 19 of the corrupt practices and other related offences Act, 2000, as well as sections 315, 363 and 364 of the penal code.

The court had on November 22, 2023, granted Emefiele bail to the tune of N300m with two sureties in the like sum.

The court stressed that the sureties must be resident within the FCT Abuja and owners of landed properties within the Maitama District.

Besides, the court seized his travelling documents.

One of the counts in the amended charge, read: “That you, Godwin Ifeanyi Emefiele, male, adult, sometime in March 2020 within the jurisdiction of this honourable court, did use your position as governor of the Central Bank of Nigeria to confer a corrupt advantage on your wife, Omoile Margret, and brother-in-law Omoile Macombo, by awarding a contract for the external renovation of the CBN Governor’s residence lying, being and situate at No. 2 Glover Road, Ikoyi, Lagos, in the sum of N99.826m to Messrs Architekon Nigeria Limited, a company wherein the duo are directors and majority shareholders and you thereby committed an offence.”

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BREAKING: By- Election, DSS arrests PDP agent with N30m cash for alleged vote-buying in Kaduna

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The Department of State Services (DSS) and Police have arrested a suspected People’s Democratic Party (PDP) agent, Shehu Fantagi, with about N30 million allegedly earmarked for vote-buying ahead of today’s by-elections in Kaduna State.

Fatangi was picked up on Friday evening at a hotel in the Kaduna metropolis, where he was said to be coordinating the distribution of the funds meant to influence voters in the Chikun/Kajuru Federal Constituency election.

Reliable security sources confirmed that the suspect was caught in possession of cash running into tens of millions, allegedly intended to compromise the integrity of the polls.

The Kaduna State Police Command also confirmed the arrest.

Its spokesman DSP Mansir Hassan, in a statement on Saturday said: “In a sustained and collaborative effort by security agencies to ensure that the forthcoming by-elections in Kaduna State are conducted peacefully and without interference from criminal elements, operatives of the Nigeria Police Force in conjunction with the Department of State Services (DSS) have successfully apprehended vote buyer in Kaduna.”

According to him: “At about 0330hrs of today, arrested one Shehu Aliyu Patangi at a popular hotel located along Turunku Road in Kaduna metropolis and recovered a total cash sum of Twenty-Five Million, Nine Hundred and Sixty-Three Thousand Naira (₦25,963,000) from the suspects, believed to be earmarked for the purpose of inducing voters to compromise the electoral process.

“Preliminary investigations revealed that the suspect had planned to use the said amount to bribe eligible voters. On interrogation the suspect confessed to the crime and pleaded for leniency.

“The Commissioner of Police, CP RABIU MUHAMMAD psc, mni, expresses appreciation to the other sister agencies for the synergy and swift collaborative action. He warns, in the strongest terms, that anyone, regardless of status, found attempting to undermine the electoral process will face the full wrath of the law.

“The Kaduna State Police Command reassures residents of its commitment to providing maximum security before, during and after the elections, and calls on the good people of Kaduna State to go out and exercise their franchise peacefully and lawfully without fear or intimidation.”

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Bye-Election: Crisis Rocks Labour Party as Obi Directs Members to Vote for Other Party , Abure Says ‘Ignore Him’

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The attention of the leadership of the Labour Party has been drawn to a statement by the party’s former presidential candidate, Mr. Peter Obi, directing party members to cast their votes for another party in the August 16, 2025 bye-election. The party said that Obi’s directive is misleading, mischievous and delusional.

The party is however calling on all our faithful party members to ignore this malicious directive and go ahead with casting of their votes for the Labour Party and their candidates.

It is unfortunate that Obi has turned himself to an irony and a paradox in the Nigeria political space. He is now reputed to have elevated subterfuge in the game of politics and has of late been crying wolf where there is none. He has turned himself into “Uber” politician, not willing to take a position and stand by his decision. He has now booked a place for himself in the Guinness book of records as a person affiliated to many political parties pari pasu, all in his desperation to preside over Nigeria.

Nigerians should not forget in a hurry that it was Peter Obi that created the crisis in the Labour Party which he is now citing as a reason why people should not vote for the party. Peter Obi and Alex Otti the Governor of Abia State hosted the ill-fated and illegal expanded stakeholders meeting in Umuahia, September 4, 2024. He has also co-funded the crisis all these while and went as far as leading a protest match to INEC headquarters against his own party.
His desperation to control the soul of the party has made him go haywire.
A man that received so much goodwill from the party leadership but turned around to pay them with evil. This is why we have maintained that Peter Obi lacks the competence, character and capacity to actualise the vision of a new Nigeria.

What Obi does not know is that Labour Party is on the ballot and our candidates are contesting the election in spite of all his efforts to strangulate the Labour Party. The party unknown to him has done everything within the law to ensure that our candidates participate in the bye-election and of course in all other future election.

We are therefore encouraging our candidates, members and supporters across all the states where bye-election is holding to be focused and ensure that we carry out our civic duties by returning Labour Party and the candidates elected. Nigerians have come to know who Peter Obi is.

 

 

 

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Tinubu orders FIRS, Customs to review revenue deductions, Says Edun

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President Bola Tinubu on Wednesday directed a review of deductions and revenue retention practices by Nigeria’s major revenue-generating agencies, in a bid to boost public savings, improve spending efficiency, and unlock resources for growth.

The agencies include the Federal Inland Revenue Service, the Nigeria Customs Service, the Nigerian Upstream Petroleum Regulatory Commission, the Nigerian Maritime Administration and Safety Agency, and the Nigerian National Petroleum Company Limited.

Tinubu gave the directive during the Federal Executive Council meeting on Wednesday in Abuja. The President’s directive was disclosed to journalists by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.

According to Edun, President Tinubu specifically called for a reassessment of NNPC’s 30 per cent management fee and 30 per cent frontier exploration deduction under the Petroleum Industry Act. He tasked the Economic Management Team, chaired by Edun, to present actionable recommendations to FEC on the optimal way forward.

The President said the directive was part of efforts to sustain reforms that have dismantled economic distortions, restored policy credibility, enhanced resilience, and bolstered investor confidence.

According to him, these reforms have created a transparent, competitive business environment attractive to local and foreign investors in critical sectors such as infrastructure, oil and gas, health, and manufacturing.

Reaffirming the Renewed Hope Agenda, Tinubu said Nigeria’s goal of a $1tn economy by 2030 requires growth of at least seven per cent annually from 2027 — a target he described as “not just economic, but a moral imperative,” as higher growth is the surest path to tackling poverty.

He cited the July 2025 International Monetary Fund Article IV report, which he said endorsed Nigeria’s economic trajectory and the need for investment-led growth.

On grassroots empowerment, the President pointed to the Renewed Hope Ward Development Programme — a ward-based initiative covering all 8,809 wards across the country — designed to lift economically active citizens through micro-level poverty reduction strategies in collaboration with states, local governments, and private partners.

Tinubu noted that public investment accounts for just five per cent of Gross Domestic Product due to low savings, stressing that optimising “every available naira” is vital, especially under current global liquidity constraints.

Edun said macroeconomic indicators were improving, with a more stable exchange rate, easing inflation, rising revenues, and debt-to-GDP ratios now within range. He described savings as the foundation of investment and said the President’s directive aims to quickly raise public sector savings by reviewing deductions and retention practices.

Meanwhile, Edun said he presented two memoranda to Council — a $125m Islamic Development Bank financing for infrastructure in Abia State, covering 35 kilometres of roads in Umuahia and 126 kilometres in Aba; and a plan to refinance N4tn in outstanding electricity sector obligations.

The electricity debt resolution will be executed in phases, with the first phase expected within three to four weeks under the coordination of the Debt Management Office and other agencies.

According to the talking points by President Bola Tinubu obtained by our correspondent, he commended members of the Federal Executive Council for implementing bold reforms “that have dismantled longstanding distortions in our economy and restored policy credibility.”

Tinubu said the reforms have enhanced economic resilience, restored macroeconomic stability, created a transparent and competitive business environment, and bolstered investor confidence.

“As a result, our economy is now better positioned to attract both domestic and foreign private investment-investment that is critical to stimulating sustained growth, creating decent jobs, and lifting millions of Nigerians out of poverty.

“Our Renewed Hope Agenda remains focused on achieving a $1tn economy by the year 2030. To realise this vision, we must now accelerate our efforts to achieve a minimum growth rate of 7.0 per cent by 2027,” Tinubu said.

According to him, stimulating higher growth is the only sustainable path to solving the poverty challenge in Nigeria. “The recent IMF Article IV Report, published in July 2025, also affirms this trajectory and underscores the importance of investment-led growth.

“In line with our commitment to inclusive development, I recently launched the Renewed Hope Ward Development Programme-a ward-based initiative covering all 8,809 wards across the 774 Local Government Areas in Nigeria.

“This programme is close to my heart. It is designed to empower active grassroots economic players, using a micro-level approach to tackle poverty. We aim to bring sub-national governments and private sector partners on board to ensure efficient and impactful implementation,” he stated.

He urged governors to accelerate growth by prioritising productivity-enhancing investments, strengthening food security, and deepening collaboration with local governments to address the poverty challenge and ensuring that no Nigerian is left behind.

Speaking on savings and investment as catalysts for growth, the President emphasized the critical role of savings in catalyzing investment and growth. “Currently, public investment as a share of GDP stands at a low 5.0 per cent, largely due to insufficient public savings.

“We must urgently review and optimize our savings. This includes enhancing spending efficiency and reviewing deductions from the Federation Account, such as the cost of collection by revenue agencies, such as FIRS, Customs, NUPRC, and NIMASA, etc.

“There is also the need to reassess the 30 per cent management fee and the 30 per cent frontier exploration deduction by NNPC based on the Petroleum Industry Act. We must optimise every available Naira to sustain our momentum and finance our growth trajectory-especially in a time of global liquidity constraints.

“Accordingly, I am directing the Economic Management Team, chaired by the Minister of Finance and Coordinating Minister of the Economy, to conduct a comprehensive review of all deductions and revenue retention practices, and present actionable recommendations to this Council for an optimal way forward.”

 

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