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N20b UBEC ‘fraud’: EFCC seizes 5 houses from contractor

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The Economic and Financial Crimes Commission (EFCC) has seized five houses from a contractor Prof. Adenekan Iyiola Adesanya for allegedly diverting about N8billion out of over N20billion spent by the Universal Basic Education Commission (UBEC) for the supply of textbooks, science and technical equipment to schools.

The N8billion was meant for the purchase of science, technical and laboratory equipment to 104 Unity Schools.

The suspect, who is also the Managing Director of Macmillan, was alleged to have paid out N5billion to some individuals and used part of the balance to buy some properties.

The sealed properties include a duplex at 3A Prince Adesanya, Parkview Estate in Ikoyi; another duplex at Plot 10, Segun Olusemo Crescent, Parkview Ikoyi;  and three others in Block B 1-6 Erinko Residential and Industrial Estate, Ijoko in Ogun State housing five firms.

Also, eight firms linked with Adenekan are under probe with their accounts frozen in line with the ongoing investigation.

The eight companies traced to the suspect are Aristocrat Specialities Limited; Bromley Technology Limited;  Bromley Laboratory Equipment Limited; Calendar Investment Limited; Adeyinka Ventures Limited; Taisol Global Limited; L’enfant Enterprises Limited and Melrose Publishing Company Limited.

A top source said : “The EFCC received a petition bordering on alleged reckless award of contracts in UBEC to launder public funds , diversion of contract sums, non-execution of contracts and misappropriation of funds. The petitioner alleged that about N100billion was involved but our detectives have so far traced about N20billion of the funds disbursed.

“We have confirmed that about N8billion worth of contracts(out of the preliminary N20billion being looked into) for the supply of science and technical equipment to 104 Unity Schools(mainly Federal Government Colleges) were not properly executed.

“Most of the contracts awarded to at least seven of these eight companies did not go through the bidding process. There was no evidence of due process.

“In the course of our investigation, we invited the principals of the 104 schools and their store officers to give account of the total quantity of the items supplied. Some schools received about 30% of their equipment, some got 40% and some 50%.

“About three to four schools in the North-East, particularly those sited in Boko Haram insurgency axis, did not receive any science and technical equipment.

“When we discovered that these equipment were not supplied, EFCC investigators decided to track the money paid by UBEC.  The detectives discovered that about N5billion was paid out to some individuals with a strong suspicion that it might have been diverted and used for 2015 general election.

“The suspect allegedly used substantial part of over N3billion  balance to buy and build these properties. We have sealed off the affected buildings. Also, the accounts of the eight firms have been frozen.”

The source added: “When we interrogated the contractor, he simply said he was paid for “services rendered.” He also said he sublet the contracts but he was not able to prove to our team the beneficiaries.”

The anti-graft commission had already quizzed  a former Executive Secretary of the Universal Basic Education Commission (UBEC), Mallam Suleiman Dikko and seized his passport.

Also grilled were top directors of UBEC including those in charge of Finance and Procurement.

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BREAKING: Fake Agency Scandal: Tinubu Suspends Three Perm Secs, Orders Arrest

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President Bola Tinubu has ordered the immediate arrest of one George Buchi Nwabueze and the suspension of three permanent secretaries over the discovery of another fake agency operating within the Office of the Secretary to the Government of the Federation.

They include M.S. Danjuma, Nadungu Gagare, and Richard P. Pheelangwah.

Chairman of the Independent Corrupt Practices and Other Related Offences Commission, Dr Musa Aliyu, SAN disclosed this to State House correspondents on Friday after briefing the President for the second time in two days, following an earlier meeting on Thursday.

Aliyu said the newly uncovered fake office, operating under the name “National Brands Development and Made-in-Nigeria Special Project Office,” had been illegally allocated office space within the premises of the OSGF, contrary to extant laws and without presidential authorisation.

He said, “Upon further briefing by ICPC to Mr President on the ongoing investigations into the fake Presidential Foreign Intervention Promotion Council and procedural weaknesses in the public service, the Independent Corrupt Practices and Other Related Offences Commission has uncovered another fake agency and office operating under the name National Brands Development and Made-in-Nigeria Special Project Office, which has been illegally allocated office space within the premises of the Office of the Secretary to the Government of the Federation,” Aliyu said.

He said the discovery emerged in the course of the commission’s broader investigation, as earlier directed by President Tinubu, and identified the promoter of the fake office as one Prince George Buchi Nwabueze, who was found to be operating under multiple aliases.

“The fake agency office, National Brands Development and Made in Nigeria Special Project Office, was promoted by one George Buchi Nwabueze, with active suspected collaborators in the Office of the Secretary to the Government of the Federation, contrary to extant laws and without authorisation of the President of the Federal Republic of Nigeria.

“The promoter was discovered to also operate under four other variations of his name: George Nathan, George Nathan Nwabueze, Honourable George Buchi Nwabueze, Prince George Buchi Nwabueze and George Nwabueze,” Aliyu said.

He revealed that the ICPC had engaged the Office of the Secretary to the Government of the Federation to ascertain vital information relating to the fake office under investigation, and had comprehensively briefed the President on the new developments.

“I have briefed Mr President comprehensively on these new developments. ICPC will continue with its investigations accordingly,” he said.

Aliyu said following the discovery, “Mr President has directed as follows: the immediate arrest of Prince George Buchi Nwabueze; the immediate suspension of the following permanent secretaries; M.S. Danjuma, Nadungu Gagare, and Richard P. Pheelangwah,” he said.

Friday’s development is the latest in a scandal that began with the exposure of the fictitious Presidential Foreign Intervention Promotion Council, whose self-styled Director-General, Adeniyi Adeyemi Matthew, is currently facing prosecution on charges of forgery and impersonation.

The ICPC’s interim report, submitted to the President on August 6 after a 30-day investigation, had earlier disclosed the existence of two other fictitious bodies, the FCT Investment Promotion Agency and the Foreign Investment Promotion Agency and Public-Private Partnership.

The National Brands Development and Made-in-Nigeria Special Project Office is the fourth fake agency uncovered after the PFIFC scandal since early April.

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Rebuilding Nigeria’s Railway Future: From Constraints to Greater Possibilities

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Dr. Kayode Opeifa

Every morning, thousands of Nigerians traveling between Abuja and Kaduna ask the same question: Will I get a train ticket today?

We at the Nigerian Railway Corporation (NRC) understand the frustration. More than 5,000 intending passengers compete for the limited seats available on the corridor, while the current service accommodates only a fraction of that demand.

We hear the complaints about tickets selling out quickly. We see the disappointment of passengers who log on to the booking platform only to discover that seats have been exhausted. We know that some have had to alter their plans or seek alternative means of transportation.

These concerns are legitimate, and we cannot wish them away.

But Nigerians also need to understand the operational reality. Demand for rail transportation has grown considerably, particularly on the Abuja–Kaduna corridor, while available capacity has not kept pace.

At different periods, three train sets were deployed on the route, providing substantially more daily trips. Today, one operational rake is serving the corridor, placing considerable pressure on available seats.

In the last three months, NRC management has added three coaches to the operating rake: one Executive Coach with 28 seats and two Standard Coaches with 88 seats each. The additions have increased the rake to nine coaches and created 204 extra seats for passengers on each journey.

It is an important step, but we recognise that more needs to be done.

We are working with the Federal Government and other stakeholders to address the larger requirements for restoring and expanding train services. We remain confident that the necessary interventions will be made.

Improving the railway, however, is not only about adding coaches and trains. It is also about improving the passenger experience.

Our immediate priority is to ensure that critical facilities at stations along the Abuja–Kaduna corridor including air-conditioning systems, elevators, escalators and lifts are fully functional. Passengers should not have to choose between safety, reliability and comfort.

We are equally strengthening our ticketing and passenger-verification systems. Ticket racketeering remains a concern, and our responsibility is to ensure that available seats go to genuine passengers through a transparent and secure process.

But technology cannot solve a capacity problem. Ultimately, we need more operational trains, more coaches and more trips.

The near completion of the Kano Mega Train Station along the Kaduna–Kano Railway Corridor represents more than the construction of another station. It offers a glimpse of the modern railway system Nigeria should have.

A railway station should not merely be a place where passengers board and alight. It should be a functional transportation hub designed around the needs, safety and dignity of the passenger.

The Kaduna–Kano corridor is strategically important, linking major population centres and commercial communities while strengthening rail connectivity across northern Nigeria. The Kano station is therefore part of a broader vision of a railway capable of supporting passenger mobility, freight movement and economic activity.

We know that Nigerians will judge us not by our promises but by their experience when they use our trains.

There will be operational constraints, and there will be complaints. We must listen to them. But there is also progress.

Additional coaches are being deployed where possible. Maintenance is being prioritised. Station facilities are receiving attention. Ticketing systems are being strengthened, while our engineers and technical personnel continue to keep the railway moving under challenging circumstances.

Our responsibility is to make the best use of the resources entrusted to us, improve efficiency, protect railway assets and ensure that investment in the railway delivers value to Nigerians.

For the passenger waiting at midnight to secure an Abuja–Kaduna ticket, these larger developments may seem distant. What matters is getting a seat.

That is why increasing capacity remains one of our most urgent priorities.

The additional coaches are important steps. More coaches, more trains and more reliable services must follow.

The Kano Mega Train Station is another step towards the railway system we are building for the future.

We ask for the patience of our passengers, but we do not take that patience for granted.

We owe Nigerians results. And we will continue working with the federal government and other stakeholders to build a railway system that Nigerians can depend on not only today, but for generations to come.

Opeifa is the Managing Director of the Nigerian Railway Corporation.

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FCCPC Tackles Rising Cement Prices, Investigates Alleged Manipulation

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Agency summons product manufacturers to explain pricing methodology, others
CEMENT PRICES
Kenya N7,344
Tanzania N6,528
Togo N9,180
Nigeria N15,000

Cement manufacturers are under the searchlight of the Federal Competition and Consumer Protection Commission (FCCPC) over rooftop prices of cement, the agency has confirmed.

It said the probe followed an extensive industry-wide investigation that suggested possible manipulation of product prices in the Nigerian market.

The FCCPC stated that findings from a three-month cross-border study by its Anti-competitive Practices Department (ACP), undertaken in response to widespread public complaints over the high cost of cement, provided reasonable ground for probe of the cement manufacturers.

According to the commission, subsequent to the findings, it has issued “Notices of Commencement of Investigation and Summons to Producer” to the key players in the sector.

With the summon, the companies are required to provide information and records relating to, among other matters, their pricing methodologies, production and capacity utilisation, exports and relevant commercial relationships.

Three companies account for more than 90 per cent of Nigeria’s cement production. They are: Dangote Cement Plc, HMB Nigeria Plc, formerly known as Lafarge Africa Plc. and BUA Cement Plc.

FCCPC stated that its actions were sequel to concerns raised over the comparatively high retail price of cement in the local market compared with other markets, despite the country’s substantial limestone deposits, significant domestic production capacity and reported surplus installed capacity relative to domestic consumption.

The commission explained that, beyond Nigeria, its investigations extended to markets in sub-Saharan Africa like Kenya, Tanzania and South Africa as well as Egypt, Morocco and Algeria, using metrics such as availability of limestone, the basic raw material for cement production, as well as other variables such as population, production capacity and consumption.

The commission’s survey indicated that Nigeria has installed cement production capacity of more than 60 to 65 million metric tonnes annually, while estimated domestic consumption is approximately 25 to 30 million metric tonnes.

Nigeria is also a net exporter of cement to neighbouring markets, a statement signed by its Director of Corporate Affairs, Ondaje Ijagwu, stated.

The FCCPC statement reads: “Of particular concern to the Commission is that this level of production capacity has not resulted in the downward pressure on domestic prices that might ordinarily be expected in a competitive market with substantial excess capacity.”

Executive Vice Chairman and Chief Executive Officer (EVC\CEO) of the commission Mr. Tunji Bello said the investigation reflected the commission’s responsibility to examine market conditions that have significant consequences for consumers and the wider economy.

FG charges bakers, operators on production process, right labelling
He said: “Cement occupies a strategic place in the Nigerian economy. Its price affects the cost of building a home, developing commercial property, delivering public infrastructure and, ultimately, the cost of doing business. When concerns persist about how such an important market is functioning, the Commission has a duty to look beyond assumptions and establish the facts.” DownloadingInteractive Geographic Maps

He explained that the scrutiny is not intended to dictate the commercial decisions of businesses, rather, it is to determine whether the market is functioning competitively and whether consumers are receiving the benefits that effective competition should provide.

Bello said: “Businesses are entitled to make legitimate commercial decisions and earn returns on their investments. Competition law does not prevent that. Its purpose is to protect the competitive process, so that prices, output and other market outcomes are determined by genuine competition rather than conduct that unlawfully restricts it. That distinction is important to the work we are undertaking”.

The FCCPC spokesman provided additional details on the findings from the ACP investigation.

He said: “For instance, Kenya with 58.6 million population, 76 per cent lower than Nigeria’s population, had domestic cement demand of approximately 9.3m metric tonne per annum (MTPA) in 2025. Retail price in Nairobi is $5.40 or N7,344. Kenya is endowed with limestone. DownloadingInteractive Geographic Maps

“Tanzania, with population of 66.3 million, 72 per cent lower than Nigeria’s population, had domestic cement demand of 9.3m MTPA by 2025 with a bag of cement selling for $4.80 or N6,528.

“In Togo, which does not have limestone deposit, a bag of cement sells for $6.75 or N9,180.

“However, in Nigeria, with its huge limestone deposit and installed capacity, market intelligence reviewed by the commission showed that the retail price of a 50kg bag of cement rose significantly during the first half of 2026. DownloadingInteractive Geographic Maps

“A cement bag selling for between N9,300 and N9,700 in January was selling for between N10,500 and N13,000 by mid-year and by July, prices had risen to between N13,000 and N15,000 in some parts of the country.”

The commission noted that information provided by industry participants had identified energy costs, depreciation of the naira and its effect on imported machinery and spare parts, as well as transportation and logistics costs, among the factors contributing to cement prices.

It said: “The Commission is testing these explanations against verified information on costs, production, pricing and market conditions. However, the weight of preliminary findings provides sufficient grounds for the investigation to continue.

“Next is to determine whether prevailing cement prices can be explained by legitimate costs and market conditions, or whether there is evidence of coordinated conduct, abuse of market power, restriction of domestic supply, anti-competitive distribution practices or other conduct contrary to the provisions of the FCCPA.”

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