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‘The Whereabouts Of $43, 449, 947, 000 Seized From Osborne Towers in Ikoyi Cash With CBN’ – Source

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As the probe of the whereabouts of $43, 449, 947, 000 seized from Osborne Towers in Ikoyi deepens, there were indications on Sunday that the cash was deposited with the Central Bank of Nigeria(CBN).

 

It was also learnt that the cash might have been transferred to the Consolidated Revenue Fund (CRF) account of the Federal Government.

But it was unclear if the cash has been spent or returned to the National Intelligence Agency (NIA) which was the original owner.

Neither the Office of the Minister of Finance and Budget Planning nor the Office of the Accountant-General of the Federation was ready to speak on the issues last night.

An official of the apex bank also declined to comment yesterday. He said customer-bank confidentiality will be respected.

The  House of Representatives on Wednesday raised questions about the status of the cash which was recovered by the Economic and Financial Crimes Commission (EFCC).

The Director of Finance and Admin in the Office of the National Security Adviser(ONSA), Brig. General Ja’afaru Mohammed said the office was not in custody of the $43.4m.

The cash was seized in April 2017  from Flat  7B, No. 16 Osborne Road, Osborne Towers in Ikoyi, Lagos.

It was learnt that the intercepted cash was transferred to the CBN vault pending the final forfeiture order by a Federal High Court.

The money was said to have remained in the custody of the CBN until it was finally forfeited to the Federal Government.

A highly-placed source, who spoke in confidence, said: “Upon interception of the $43, 449, 947, 000, it was deposited with the CBN and receipted pending a forfeiture order by the Federal High Court. The CBN has Recovered Funds Account.

“There was no diversion whatsoever. The cash was with the CBN until it was eventually forfeited.

“The House of Representatives should not embark on a wild goose chase. Every movement of the cash was documented.

“From records, about $286million was released to NIA out of which the $43.4million was intercepted in the affected flat.

The source added: “The $1, 658, 000  Flat 7B, No. 16 Osborne Road, Osborne Towers, where the cash was kept has also been forfeited to the Federal Government. Nothing has been done with it.

“I think NIA designed it as a safe house for strategic activities.”

The Director of Finance and Admin in the Office of the National Security Adviser, told the House Adhoc committee that ONSA had nothing to do with the money.

He explained that money recovered from the NIA was about $41 million  which has been returned to the agency on the directive of  President Muhammadu Buhari.

He said “The operation that was carried out at Osborne Towers Ikoyi Lagos was planned and executed by EFCC operatives. ONSA was neither part of the team that recovered the funds nor were the funds handed over to ONSA at any point of the recovery.

“However, for the avoidance of doubt, there were issues of funds belonging to an intelligence outfit that was taken out of the abode and was later returned to the outfit on the directive of Mr. President. Evidence of the deposit of the fund is hereby attached.

“The NIA was under investigation and the President directed that the ONSA should take charge of the place. I was sent there to take charge of the funds of the agency. I went there and counted the money in their vault and it was about $41million .

“We kept that money and after the investigation, the President ordered that the money be returned to the agency. We have returned it to the owners as directed by the President”.

When asked of the status of the cash, a top official of the CBN told The Nation that the apex bank as banker to the government would not divulge the status of any fund to a “third party”.

According to the official, only a court order or a parliamentary request could compel the CBN to disclose the status of such funds.

The CBN he said will maintain bank-customer confidentiality agreement between it and the government it serves.

The federal ministry said “no comments please”

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CCT Chairmanship : Embattled Danladi Umar Withdraws Suit Challenges his Successor Mainasara Kogo’s Appointment by Tinubu

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Justice Danladi Yakubu Umar, the embattled Chairman of the Code of Conduct Tribunal (CCT), has quietly withdrawn his lawsuit challenging the controversial appointment of Dr. Mainasara Umar Kogo as his successor—an appointment made by President Bola Ahmed Tinubu in alleged violation of constitutional procedures.

Newsthumb report that in Suit No: FHC/ABJ/CS/1796/2024, filed at the Federal High Court, Abuja, Justice Umar—alongside civil society groups—had sought to nullify the appointment of Dr. Kogo.

The respondents listed in the suit included President Tinubu, the Attorney-General of the Federation, Lateef Fagbemi (SAN), the Senate President, Godswill Akpabio, the National Assembly, the National Judicial Council (NJC), and the Federal Judicial Service Commission (FJSC), among others.

However, in a surprising development, a “Notice of Discontinuance” dated March 20, 2025, and signed by Umar’s legal representatives—M.M. Maidoki, A.G. Salisu, and Jibrin S. Jibrin—was filed in court, effectively ending the legal challenge.

Justice Umar decided to withdraw the suit following intense pressure from family members and respected elders from Toro, Bauchi State—his hometown—who urged him to prioritize family honor and avoid escalating political tensions.

A member of Umar’s legal team disclosed that, despite their firm belief that the President, National Assembly, and Secretary to the Government of the Federation (SGF), Senator George Akume, had acted illegally against Umar, they advised him to withdraw the case for the sake of his safety and the integrity of his family.

The removal attempts against Justice Umar ignited serious legal and constitutional controversy involving the Presidency, the National Assembly, and the SGF. President

President Tinubu’s decision to appoint Dr. Kogo was first announced in July 2024 by presidential spokesman Ajuri Ngelale—despite the fact that Justice Umar’s tenure had not expired.

Compounding the controversy, the official appointment letter, signed by SGF George Akume, was dated January 20, 2025, but backdated to November 27, 2024—an action that raised further suspicion among legal scholars and political observers.

The National Assembly also contributed to the confusion by initially citing an incorrect constitutional provision and even misstating the name of the intended appointee—errors they later retracted—raising concerns that Umar’s removal was politically motivated rather than based on proven misconduct.

The move was widely condemned by legal experts, who described it as unconstitutional. Senior Advocates of Nigeria (SANs) including Prof. Mamman Lawan Yusufari, Dr. Wahab Shittu, and Prof. Yemi Akinseye George pointed out that, under the Fifth Schedule of the 1999 Constitution, it is the National Judicial Council (NJC) and the Federal Judicial Service Commission (FJSC) that are empowered to nominate and recommend candidates for appointment to the CCT—not the President acting unilaterally.
There is no public evidence that the NJC, chaired by Chief Justice of Nigeria Justice Kudirat Kekere-Ekun, recommended any successor. Similarly, there is no proof that the National Assembly met the two-thirds majority threshold required to lawfully remove Justice Umar.

The National Assembly’s move to oust Umar was reportedly initiated at the behest of the Presidency, leading to the litigation that has now been withdrawn. Notably, President Tinubu, Attorney-General Fagbemi, and other officials had already filed their statements of defense prior to the discontinuance.

Justice Umar has previously presided over several politically sensitive cases, including the 2012 trial of then-Lagos State Governor Bola Tinubu over alleged false asset declarations. Although he discharged Tinubu, he did not acquit him—an outcome some believe might have posed constitutional hurdles during Tinubu’s political ascendancy.

With the withdrawal of the case, it remains uncertain whether Justice Umar will formally vacate his position or seek other avenues to contest Dr. Kogo’s appointment.

The Code of Conduct Tribunal (CCT) is a specialized court tasked with upholding ethical standards among Nigerian public officers. It is empowered to try politicians, civil servants, judges, and others accused of breaching the Code of Conduct, including false asset declarations, foreign account ownership, conflicts of interest, and corruption-related misconduct.

Upon conviction, the Tribunal can impose penalties such as removal from office, disqualification from holding public office for up to ten years, and forfeiture of assets improperly acquired.

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Akpabio: The Misconcepted Man Of Purpose, Says Niyi Babade

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“Just let him know that you are passionate like him and fellow human being’s happiness is paramount to you and that you hold the ideals of man in high esteem, let him know you can contribute positively to the reason why humanity must not suffer, let him know that you are full of ideas that can bring joy and happiness to humanity, let him know that the comfortabilities of the people, the equal rights of the people in a world where no man feels he/she is more superior to the other is your perogative, let him know you can offer positive solutions to difficult situations instantly,let him know that you are super ready to bring people out of the quagmire they might found themselves at any point in time, then he will bring you closer to himself so you will have unlimited access to him and become his friend. He will make sure you are encouraged and generously rewarded for your contribution.His love and concern for humanity is unprecedented no matter your gender or status in the society. This is why people often times take undue advantage of his large heartedness for granted especially the female folks”

This was how Gbenga a former staffer of the Directorate of the State Security Services described Senator Godswill Obot Akpabio the Senate President of Nigeria,when he worked with him as security personnel when he was the Governor of Akwa Ibom State.while speaking with our reporter.

The senate president still remain steadfast and resolute to the course of humanity especially Nigerians wherever they are within the globe.

The ongoing encounter with Senator Natasha is one of the misconceptions that we speak about which has often times trailed the senate president’s path.Because of his love for people,humanitarian and philanthropy heart for every one

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JUST IN: Terrorism trial, Court admits video recording of Kanu’s interrogation, other items

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A video recording of Nnamdi Kanu’s interrogation by officials of the Department of State Services (DSS) has been played in court in his ongoing trial before a Federal High Court in Abuja.

The statement Kanu made on October 15, 2015 has also been read.

In the video, he admitted establishment of Radio Biafra and registration in London.

Kanu also admitted not registering the radio station with NBC because there was no need for it.

In his statement, he admitted fighting for emancipation of the people of South East, South South and parts of Benue and Kogi.

He made it abundantly clear that freedom fighting is not a crime in any part of the world including Nigeria because it is a fundamental right.

Kanu claimed not to be involved in any violence because he has not been linked with any one.

Items in four suitcases recovered from him in his hotel room in 2015 were also brought to the court room full display.

Defence lawyer, Kanu Agabi (SAN) did not object when prosecuting lawyer, Adegboyega Awomolo (SAN) applied to tender all the items in evidence.

Justice James Omotosho has admitted the items in evidence.

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