news
Nigerian Govt To Use $322.52m ‘Abacha Loot’ For Social Safety Net Program
Nigerian government has announced plans to use the $322.52 million returned to the country by the Swiss government as part of the fund looted and stashed abroad by late military dictator, General Sani Abacha, to implement its national social safety net programs.
Mrs. Kemi Adeosun, the Minister of Finance, made this known while talking to the press at the end of the 2018 International Monetary Fund and World Bank Spring Meetings in Washington DC, United States on April 22.
Mrs. Adeosun stated that the recovered fund which had already been lodged in a special account in the Central Bank of Nigeria (CBN) will be used for the social safety nets projects aimed at providing access to targeted transfers to poor and vulnerable households under an expanded national social safety nets system.
Mrs Adeosun also spoke on the current growth in the country’s economy. She stressed that the current economic growth showed inflation rate slowing down, with foreign reserves rising and that the current outlook contrasted with the situation experienced under previous administration before 2015.
Citing statistics from the National Bureau of Statistics (NBS), she said inflation dropped from 14.3 per cent in February 2018, to about 13.49 per cent in March 2018.
She also noted that the country’s foreign reserves, which stood at about $23 billion in October 2016, has grown to more than $47.93 billion, from about $47.37 billion as at April 5, 2018.
She said the government was optimistic that the country’s economic growth would be sustained, with current projections for 2019 expected to be far more robust than the present level in 2018.
“Government is confident that if we diligently implement our economic plan, we will continue to grow the economy,” she said.
Speaking on the government-owned-enterprises like the Nigerian National Petroleum Corporation, the minister said government would continue to efficiently and effectively manage their operational costs, plug leakages and ensure efficiency.
She said, “We must make sure every money earned comes in. We will drive the process of improving good governance and accountability.”
The Minister also said government is currently refinancing inherited debt portfolio from short term Treasury Bills to longer tenured debts and that this has resulted into huge savings and reduction in costs of funds.
She also informed that the Voluntary Assets and Income Declaration Scheme (VAIDS) deadline was extended by three months till June 30, 2018 following appeals from taxpayers for more time to regularize their tax status. She also pointed out that the present administration has raised the taxpayers’ base from 13 million in 2015 to 17 million as at 2018.
Mr. Godwin Emefiele, governor of the Central Bank of Nigeria, who was also at the briefing reassured the country of positive economic growth as he noted that a growth rate of 2.5 per cent projected by the IMF and World Bank for Nigeria was achievable.
Noting the sustained growth in the country’s external reserves, Mr Emefiele stressed the need to continue to grow the reserves to save for the rainy day.
He also guaranteed that concerted efforts were ongoing to realise the 80 per cent target for financial inclusion by 2020.
He said, “If we had enough reserves, we wouldn’t have suffered the recession shocks.”
news
UPDATED: Two Ansaru Leaders Get Life Imprisonment Over Oyo Kidnapping
![]()
…Usman, Abba plead mercy
A Federal High Court in Abuja has sentenced a man who claimed to be 50 years old and father of 19 children, Mahmud Usman, to life imprisonment after pleading guilty to offences of kidnapping for ransom, terrorism, among others.
Usman (also known as Abu Bara’a, Abbas and Mukhtar), described by the prosecution as the self-styled Emir of Ansaru, was sentenced, along with his co-defendant, Abubakar Abba (also known as Mahmud al-Nigeri and Malam Mamuda), who is said to be the group’s deputy leader and chief of staff.
Usman and Abba were arraigned earlier this year on a 32-count charge filed by the Department of State Services (DSS).
The two are said to be among the key terrorist leaders who were behind the Oriire, Oyo State school kidnap and demanded to be released by the government.
During their arraignment, Usman pleaded guilty to a count of illegal mining for funding terrorism/arms, and was sentenced to 15 years’ imprisonment.
He pleaded not guilty to the other 31 counts, while his co-defendant, Abba, pleaded not guilty to all the 32 counts.
On July 9, however, Abba informed the court of his intention to withdraw his earlier not guilty plea, but needed some time to consult with his lawyer, a request Justice Emeka Nwite granted and adjourned till July 20.
On Monday, both defendants pleaded guilty to the 32 counts when they were read to them, following which Justice Nwite convicted them accordingly.
While appealing to the court to be lenient in sentencing the defendants, their lawyer, Bala Dakun, said by pleading guilty, his clients now appreciate the gravity of the offence they admitted to committing.
Dakun said the convicts’ guilty pleas were not intended to trivialise the offence or justify their conduct, but a show of remorse and repentance, while seeking mercy from the court.
He said the convicts saved the time of the court and the resources and time the prosecution would have deployed in bringing witnesses to the court and proving their case beyond reasonable doubt.
Dakun told the court that Usman is 50 years old, with 19 children and the sole provider of the family.
He said the second defendant, Abba, is 35 years old, with three children and a wife.
The defence lawyer said both defendants suffer from arthritis and ulcers.
Dakun said his clients promised to work with security agencies by providing them information about the operation, financing and network of the terrorist groups in the country.
He said the convicts should be granted amnesty as has been done for some repentant Boko Haram members, who have been rehabilitated.
With the permission of the court, Usman spoke in English and said he felt remorseful and that they admitted the offences, for the court to have mercy on them and their dependants, who will suffer in their absence.
Usman, who admitted having 19 children, said he suffers from bad health and that he was planning to return to school before he was arrested.
After listening to Dakun and Usman, Justice Nwite, who rose briefly, returned to hand out the sentences. He sentenced the two to life imprisonment in relation to counts 30 and 31.
The judge also sentenced them to 20 years, without an option of fine, on counts 1, 2, 3, 4, 5, 6,7, 9, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29 and 32.
The two defendants were handed 25 years in respect of count 11, while only the second defendant (Abba) got 15 years in respect of count 10.
Justice Nwite ordered that the sentences shall run concurrently from the date of their arrest.
The defendants were arrested by the prosecuting agency (DSS) in separate operations between May and July 2025.
They were charged with various offences including terrorism and terrorism financing, kidnapping for ransom, illegal mining, funding terrorism, fabricating Improvised Explosive Devices (IED), among other charges.
The two defendants were equally accused of coordinating sleeper cells, attacks, and maintaining ties with terrorist groups in the Sahel/Maghreb region.
news
JUST IN: Fayose Emerges REA Chairman as Tinubu Announces 26 Key Appointments
![]()
President Bola Tinubu former Ekiti State Governor, Ayo Fayose
President Bola Tinubu former Ekiti State Governor, Ayo Fayose.
President Bola Tinubu has approved the appointment of 26 persons into the boards and leadership of 10 federal government agencies and commissions, including former Ekiti State Governor, Ayo Fayose, as Chairman of the Rural Electrification Agency.
The appointments, which take immediate effect, were announced in a statement on Monday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga.
“President Bola Ahmed Tinubu has announced 26 new appointments into 10 Federal Government agencies and commissions, with former governor of Ekiti State, Ayo Fayose, emerging as chairman of the Rural Electrification Agency (REA), and Major General Junaid Bindawa as chairman of the National Salary and Wages Commission,” the statement read.
The Presidency said Fayose would head the REA board alongside Alhaji Ahmadu Abubakar and Engineer Ilyasu Ibrahim Makinta as members and non-executive directors, while “the incumbent DG of the agency, Abba Abubakar Aliyu, and three executive directors previously appointed make up the remaining board members.”
Tinubu also named Major General Junaid Bindawa as Chairman of the National Salary and Wages Commission and approved eight additional appointments into the commission.
The statement added that “Former member of the House of Representatives from Lagos, Olajumoke Okoya-Thomas, is the new secretary of the commission,” while Dr Ogbole Ene Lilian, Oladele Olatubosun and Yakubu Umar Barde were appointed commissioners representing Benue, Oyo and Kaduna states respectively.
It further stated that “Dr Mai Adamu Yau, from Borno, Ginika Florence Tor (Enugu), Engineer Lawrence Okoh (Edo) and Bello Morenike Iyabode (Kogi) were appointed as members of the Commission.”
The President also redeployed Tosin Johnson Adeyanju, who previously served as Executive Secretary of the National Lottery Trust Fund, to the Revenue Mobilisation and Fiscal Commission as Secretary.
Other appointments announced include Dr Abuh Mohammed as Director-General of the National Population Commission, Dr Akinola Odeyemi as Managing Director of the Nigerian Bulk Electricity Trading Plc, Dr Anthony Inalegwu Godwin as Chairman and Chief Executive Officer of the Nigeria Atomic Energy Commission, and Engineer Julius Oloro as Chief Executive Officer of the National Centre for Agricultural Mechanisation.
According to the statement, “Engineer Julius Oloro, a former council chairman, is the new CEO of the Kwara-based National Centre for Agricultural Mechanisation (NCAM), replacing Dr A.R. Kamal, who died last January.”
Tinubu also constituted the board of the Fiscal Responsibility Commission with Dr Abdullahi Maikano Saidu as chairman.
The board members, according to the Presidency, are “Mohammed Asmau, Mohammed Aliyu Makama, Dr Suleiman Gidado, Louis O. Ndukwe, Amaechi Ugwele and Olaniyi Idowu Onikola.”
The President further appointed Shuni Muhammad Dahiru as Executive Secretary of the National Commission for Mass Literacy, Adult and Non-Formal Education, replacing Professor Shu’aibu Shehu Aliyu, who was reassigned to the Petroleum Trust Development Fund in April.
He also named Gisaor Vincent Iorja as Executive Director (Finance) of the Federal Housing Authority, replacing Mathias Byuan, who resigned to contest the Benue State governorship election.
The Presidency said “all the appointments take immediate effect.”
news
UPDATED: Police Arrest Adeyemi Over Alleged False Claim as PFIPC Director-General in Osun
![]()
Operatives of the Nigeria Police Force Intelligence Response Team (IRT) have arrested Prince Adeniyi Adeyemi, the self-styled Director-General of the controversial Presidential Foreign Intervention Promotion Council (PFIPC), in Osun State.
Adeyemi, who had been the subject of an intensive manhunt by security agencies, was apprehended following intelligence-led operations weeks after investigations into allegations about the purported federal agency’s activities.
According to the Force Public Relations Officer, CSP Anietie Iniedu, the suspect was arrested without incident by a team of IRT operatives and has been moved into police custody for further interrogation.
He confirmed the arrest while speaking to our correspondent in Abuja.
His arrest followed days of coordinated efforts by security operatives, who had earlier raided his family residence while tracking his whereabouts. Reports indicated that investigators questioned his family members during the search for the suspect.
Adeyemi came into national prominence after controversy erupted over the operations of the Presidential Foreign Intervention Promotion Council, an organisation widely described by government officials as having no legal backing or official recognition.
The controversy deepened following allegations that the suspect claimed close links with top government officials and allegedly used the platform to project influence in government circles.
Oyo police rescue abducted farmer after joint security operation
The matter also generated public attention after claims surfaced that huge sums of money were exchanged in connection with promises of government appointments. Those allegations remain under investigation and have not been proven in court.
The Presidency had earlier distanced itself from the activities of the organisation, while the Office of the Chief of Staff to the President, Femi Gbajabiamila, denied any connection with the group or its activities, maintaining that neither the office nor the Presidency authorised the operations of the PFIPC.
Police investigators are expected to interrogate Adeyemi on the circumstances surrounding the establishment and operations of the organisation, the authenticity of documents allegedly used in its activities, and claims that some individuals were deceived into believing it was an official government body.
Investigators are also expected to determine whether other suspects were involved in the alleged scheme and whether additional offences, including impersonation, obtaining by false pretence, forgery and conspiracy, may have been committed.
As of press time, the Nigeria Police Force had yet to issue a detailed official statement on the arrest or announce possible charges against the suspect. Demographics
The arrest is, however, expected to advance investigations into one of the most controversial cases involving the alleged use of a non-existent government agency to project influence within the Presidency.
Adeyemi is expected to remain in police custody pending the conclusion of investigations and possible arraignment before a competent court.
-
news6 years agoUPDATE: #ENDSARS: CCTV footage of Lekki shootings intact – Says Sanwo – Olu
-
lifestyle6 years agoFormer Miss World: Mixed reactions trail Agbani Darego’s looks
-
health5 years agoChairman Agege LG, Ganiyu Egunjobi Receives Covid-19 Vaccines
-
lifestyle5 years agoObateru: Celebrating a Quintessential PR Man at 60
-
health6 years agoUPDATE : Nigeria Records 790 new cases of COVID-19
-
news1 year agoBREAKING: Tinubu swears in new NNPCL Board
-
health6 years agoBREAKING: Nigeria confirms 663 new cases of COVID-19
-
entertainment1 year agoAshny Set for Valentine Special and new Album ‘ Femme Fatale’
