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Onnoghen Explains Sources Of Foreign Deposits In His Accounts
Walter Onnoghen, the suspended Chief Justice of Nigeria (CJN), has explained the sources of the foreign currencies deposited in his domiciliary accounts.
Onnoghen was suspended by President Muhammadu Buhari on a directive by the Code of Conduct Tribunal (CCT), before whom Onnoghen is standing trial over allegations of the fraudulent declaration of assets.
According to Sun newspaper, in a ‘Cautionary Statement Form’ filed at the Department of Intelligence Investigation and Monitoring, Code of Conduct Bureau (CCB), in Abuja, Onnoghen said the deposits in his dollar account were from trading in foreign exchange (forex), AGRICODE, while other investment returns were from proceeds of his investments.
This was contained in a voluntary statement he made at CCB.
In the statement, he specifically explained that “the deposits made in my US Dollar account No. 87000106250 with STD. Chartered Bank of $10,000 at different intervals of June 28, 2011 were sourced partly from my reserve and saving from my estacodes, including medical expenses.
“The same applies to my deposit of July 28, 2011, of $10,000 twice. It is important to state that prior to my opening the US dollar account, I had foreign currency, which I kept at home, due to the fact that there existed a government that proscribed the operation of foreign currency account by public officers including judicial officers.
“It was when I got to know that the policy had changed that I had to open the said account. Upon opening the account, I was made to understand that I cannot pay in more than $10,000 at a time and per payment slip. I cannot remember the total amount I had on reserve at the time, but it spread from my practice days as a private legal practitioner from 1979 to 1989.
“Some of the deposits are a result of forex trading, AGRICODE, and other investment returns were from proceeds of my investments into them. The withdrawals in the account are partly to pay children’s fees, upkeep abroad and further investments. My British pound and euro accounts with Chartered Standard Bank are savings accounts.
“In the January 1, 2019 document, the suspended jurist, who wrote his statement on January 11, 2019, between 12:30pm to 1: 45pm added: ‘I, Walter S. N. Onnoghen, of the Supreme Court of Nigeria, hereby, voluntarily depose to the statement averred herein, knowing that whatever I write or state may be tendered against me as evidence in court’.
“I also volunteer to state that the statement was not taken in evidence from me under duress but after the administering officer had explained and made known the details of the allegations against me.”
In his response to allegations of non-declaration of his assets, Justice Onnoghen added: “My asset declaration for numbers. SCN000014 and SCN.0000 5 were declared on the same day, December 14, 2016, because I forgot to make a declaration of May 2005 of my assets after the expiration of my 2005 declaration in 2009.
“Following my appointment as acting Chief Justice of Nigeria in November 2016, the need to declare my assets anew made me realise the mistake and then did the declarations to cover the period in default.
“I did not include my Standard Chartered Bank Account in SCN. 000014 because I believed they were not opened during the period covered by the declaration.
“I did not make a fresh declaration of asset after my substantive appointment as CJN because I was under the impression that my SCN. 000015 was to cover the period of four years; which includes my leave as CJN.”
Meanwhile, the Code of Conduct Tribunal (CCT) will resume sitting on the matter on February 4, 2019.
THE SUN
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Tinubu’s $2.99bn Rail Push Sparks Calls for Nationwide Network Expansion
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By Sotayo Olayinka
The Federal Executive Council (FEC) on Thursday approved a $2.99 billion package of rail infrastructure projects, signalling a renewed commitment by the administration of Bola Ahmed Tinubu to deepen infrastructure development and unlock economic growth.
While this initiative is widely commendable, there is a growing call for the Federal Government to extend similar support to the Nigerian Railway Corporation (NRC). Strengthening the corporation would significantly improve inter-state transportation, ease the pressure on road networks caused by overloaded trucks, and enhance logistics efficiency nationwide.
Nigeria has already recorded progress with the Lagos–Ibadan rail corridor. However, greater impact can be achieved if the government connects Lagos to Abuja, complementing the existing Kaduna–Katsina line. Such integration would go a long way in addressing the country’s persistent transportation challenges. There is also increasing public demand for the expansion of rail services to the northern and eastern regions, which would create a more unified and dependable national transport system.
Many Nigerians still recall the 1960s, when train services operated seamlessly from Lagos to Kaduna and even Sokoto—an era that underscored the immense potential of an efficient rail network.
Expanding the railway system aligns with the administration’s Renewed Hope Agenda and would deliver tangible results in infrastructure development. There is also a widely held view that the current leadership of the NRC, under Managing Director Kayode Opeifa, is making meaningful progress in revitalizing rail services.
Sustained government backing will be critical to consolidating these gains and building a modern, efficient, and nationally connected railway system capable of driving economic growth and easing transportation challenges across Nigeria.
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Hon. Marcus Adedini Joins 2027 Ife Federal Constituency Race, Promises People-Centered Leadership
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……Engr. Adedini Declares for 2027 Reps Race, Picks Nomination Forms
Engr. Marcus Adedini has officially declared his intention to contest the House of Representatives seat for Ife Federal Constituency in the 2027 general elections, following the purchase of his nomination and expression of interest forms.
His declaration marks his formal entry into the race and reflects what he described as a long-standing commitment to public service, grassroots development, and policy-driven leadership across Ife land.
A development advocate and grassroots mobiliser, Adedini brings years of community engagement and policy experience to his ambition. Through his initiative, he has spearheaded several community-based interventions spanning education, healthcare, youth empowerment, and social welfare.
In the education sector, his programmes have supported students with scholarships, learning materials, and infrastructure development. In healthcare, he has facilitated medical outreach initiatives aimed at improving access to services and raising community health awareness.
Adedini has also implemented youth empowerment schemes, equipping young people with vocational skills, startup support, and capacity-building opportunities to promote entrepreneurship and reduce unemployment. His efforts extend to women and vulnerable groups through targeted empowerment programmes designed to improve livelihoods.
Beyond grassroots initiatives, Adedini has gained legislative exposure, contributing to the drafting of bills and motions in key sectors, including education, healthcare, and social development. Supporters say his experience in budgeting and project facilitation positions him to attract federal projects to the constituency.
Calling for support, Adedini urged residents of Ife Federal Constituency to rally behind what he described as a shared vision of inclusive growth and sustainable development.
He pledged to run a people-focused and issue-based campaign, promising effective representation and impactful service if elected.
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FEC Backs $2.99bn Rail Projects, Sets Stage for Power Sector Shake-Up
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… Lagos Green Line, Kano, Kaduna rail schemes to boost connectivity
… Tinubu to chair power sector task force as reforms gather pace
The Federal Executive Council (FEC) on Thursday approved a $2.99 billion package of rail infrastructure projects and the establishment of a Presidential Task Force on Power Sector Reform, in a move signalling a renewed push by the administration of President Bola Ahmed Tinubu to deepen infrastructure development and unlock economic growth.
Briefing State House correspondents after the Council meeting, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the rail projects span key urban corridors and are designed to enhance mobility, reduce congestion, and stimulate regional commerce.
He listed the projects as the Lagos Green Line Rail, the Kano State Metro Rail, and the Kaduna State Rail project, noting that they have already been captured in the extended 2025 budget.
“The Federal Executive Council approved three transformative rail projects – Lagos Green Line, Kano State Metro Rail, and Kaduna State Rail project. These projects are to be sponsored by the Ministry of Finance Incorporated,” Oyedele said.
He explained that the approvals align with the administration’s broader infrastructure strategy, which prioritises rail transport as a cost-effective and sustainable alternative to road networks.
The Lagos Green Line is expected to complement existing mass transit systems in the commercial hub, while the Kano and Kaduna rail schemes are projected to boost passenger and freight movement across northern Nigeria, improving trade and economic activity.
In a related development, the Minister of Information and National Orientation, Mohammed Idris, announced the creation of a Presidential Task Force on Power Sector Reform, alongside key appointments aimed at strengthening governance in the electricity industry.
Idris said the Council approved the appointment of former Minister of Power, Lanre Babalola, as Special Adviser on Power to the President, to enhance coordination and policy oversight.
He disclosed that the President would chair the task force, with Babalola playing a central role in driving its activities.
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“The task force is part of renewed efforts by the administration to reposition the power sector as a critical driver of industrialisation and economic growth,” Idris said.
According to him, the decision followed the submission of a report by a presidential committee set up on March 4 to review the commercial and institutional framework for the proposed Grid Asset Management Company (GAMCO).
He noted that the task force brings together key stakeholders, including the Ministers of Finance, Power, Industry, Trade and Investment, Information, and the Attorney-General of the Federation, alongside regulators and representatives of electricity generation and distribution companies.
Idris said the body would focus on implementing far-reaching reforms to address structural bottlenecks in the sector, stressing that stable electricity supply remains central to Nigeria’s economic transformation.
He added that the government is committed to a comprehensive overhaul of the power sector to unlock industrial productivity and improve living standards.
The minister further disclosed that the FEC meeting was preceded by the swearing-in of a National Commissioner of the Independent National Electoral Commission (INEC) and four Permanent Secretaries.
He said President Tinubu administered the oath of office on retired Rear Admiral K. M. Marafa as INEC National Commissioner following her confirmation by the National Assembly.
Idris added that the Council deliberated on a 32-point agenda, reflecting what he described as the administration’s broad reform focus across critical sectors of the economy.
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