news
We didn’t recommend Akingbola’s sack as Intercontinental Bank MD – EFCC witness

An Economic and Financial Crimes Commission (EFCC) witness, Mr Paul Akali, told Justice Ayokunle Faji that his team only recommended the removal of the non-executive board members of the bank.
The EFCC is prosecuting Akingbola on an amended 22-count charge of spending N179billion belonging to the defunct Intercontinental Bank on “fictitious transactions.”
The defendant was accused of granting “unsecured credit facilities” worth billions of naira to different companies, among others.
At the last hearing of the matter, first prosecution witness Alkali testified during examination-in-chief by EFCC prosecutor Mr. Rotimi Jacobs (SAN).
He explained his team’s role in Akingbola’s removal sack and how the bank was taken over by Access Bank Plc.
At yesterday’s resumption, Akali affirmed that he was a member of the NDIC team that investigated the defunct Intercontinental Bank in May 2009 for regulatory infractions, including granting of loans without adequate securities.
He said: “They (the non-executive directors) did not execute their oversight functions; we felt they did not live up to their responsibilities.
“There was also the issue of bonus paid to them that they were not entitled to. That was why we recommended that the non-executive directors should be removed,” Akali told Justice Ayokunle Faji.
The witness told the court that the non-executive directors collected N2.92bn unentitled bonus.
When asked if Akingbola benefitted from the money, Akali said, “He was not party to the N2.92bn.”
Osipitan: “Akingbola is also not part of those who took unauthorised loans from Intercontinental Bank?”
Akali: “He did not but he gave approval.”
The witness said he was not aware whether any part of the N2.92bn had been recovered from the sacked non-executive directors.
Osipitan: “To the best of your knowledge, how many of those non-executive directors who collected the bonus that they were not entitled to are standing trial in any court?”
Akali: “I don’t know.”
Osipitan: “So far, the only person you are testifying against is Akingbola?”
Akali: “Yes.”
Osipitan: “You may not know that the special examination and report of yours were aimed at a particular objective; because you did not recommend his removal, yet he was removed from office.”
Akali: “Examiners do their job based on facts that are available to them and our reports are based on the facts that are available. “Whatever decision is taken by the management of the CBN and NDIC based on our report, we are not privy to it and as of the time we concluded our special investigation, some bank MDs were removed. He (Akingbola) was not the only one.”
Osipitan: “Why didn’t you recommend that Akingbola should be removed?”
Akali: “I can’t answer why we did not do that.”
Osipitan: ” I suggest to you that you did not recommend his removal because you did not have serious issues with him unlike the non-executive directors? Were you careless? Did he bribe you?”
Akali: “I can’t answer that question.”
Osipitan: “Tell My Lord; who was the CBN Governor as at the time of your special investigation?”
Akali: “The governor was Lamido Sanusi.”
Osipitan: “Before he became the governor of CBN, which bank’s MD was he?”
Akali: “He was MD/CEO of First Bank Nigeria Plc.”
Osipitan: “Have you heard the word ‘de-marketing’ in the banking industry?”
Akali: “Yes.”
Osipitan: “What does it mean?”
Akali: “It means using some other information to de-market your competitor.”
Osipitan: “First Bank and then Intercontinental Bank were competitors at the time in the market?”
Akali: “All banks were competitors.”
Osipitan: “You may not know that shortly before your special examination, Intercontinental Bank had cause to complain that officers of First Bank were de-marketing them, saying they would go under very soon.”
Akali: “I don’t know but I also heard…”
Osipitan: “It was after that complaint you were sent on this special mission to investigate the bank. The complaint was in April and your examination was in May.”
Akali: “I am not aware of any complaint but it was not only Intercontinental Bank that we examined.”
Further hearing was adjourned till Friday
news
Tinubu has concluded his work vacation ahead of schedule and will return to Abuja on Tuesday, Says Onanuga

President Bola Tinubu will on Tuesday, September 16, return to Abuja to resume official duties after ending his vacation earlier than planned.
The Special Adviser to the President on Information and Strategy, Bayo Onanuga, confirmed the development in a statement on Monday.
He said, “President Bola Ahmed Tinubu has concluded his work vacation ahead of schedule and will return to Abuja on Tuesday, September 16, 2025, to resume official duties.”
The President had departed Nigeria for France on September 4, 2025, to spend part of his annual holiday. He was initially scheduled to split the period between France and the United Kingdom.
While in Paris, Tinubu held a private luncheon with French President Emmanuel Macron at the Élysée Palace.
Both leaders reportedly reviewed key areas of bilateral cooperation and agreed to strengthen partnerships in pursuit of mutual prosperity and global stability.
This trip is Tinubu’s seventh visit to Paris since assuming office in May 2023 and his first since the BRICS summit in July and August’s TICAD9 in Japan.
In the first nine months of 2025, the President has undertaken 15 international trips across 11 countries.
These include high-level summits, bilateral engagements, presidential inaugurations, and annual leaves.
On January 6, Tinubu kicked off his diplomatic itinerary with a visit to Accra, the capital of the Republic of Ghana, to attend the inauguration of President-elect John Dramani Mahama on January 7.
He was in the United Arab Emirates to attend the Abu Dhabi Sustainability Summit from January 12 – 16, where he held side meetings with Gulf investors and officials on trade and energy cooperation.
From January 27-28, he visited Dar es Salaam, Tanzania, to participate in the Africa Heads of State Energy Summit.
February saw the President travel to France before attending the 37th African Union Summit in Ethiopia, where he joined other African leaders in discussions on regional security, climate adaptation, and continental trade integration under the AfCFTA.
From April 2-21, Tinubu embarked on a two-week working visit that included France and the United Kingdom.
In mid-May, the President travelled to Vatican City, attending the historic inauguration of Pope Leo XIV in Rome.
From June 28 to July 4, Tinubu undertook a landmark state visit to Saint Lucia, where he addressed CARICOM leaders in Castries.
From Saint Lucia, he proceeded to Brazil, arriving in Rio de Janeiro for the 17th BRICS Summit (July 4–7).
The Brazil visit continued into August, with President Tinubu returning for a two-day state visit.
This came after he visited Japan in the same month to attend the Tokyo International Conference on African Development, where he pitched Nigeria’s investment readiness to Japanese multinationals and met Prime Minister Fumio Kishida on maritime security and digital infrastructure.
Before he arrived in Japan, Tinubu and his entourage stopped over in Dubai, UAE, on August 15 and arrived in Yokohama early in the morning on August 18.
It was his second visit to the Gulf state within the year.
In September, he again embarked on a working vacation to the United Kingdom and France, his third visit to Paris this year and second to London.
news
Catholic Bishops Conference : Let us build prosperity together and promoting interfaith harmony, Tinubu urges church leaders

President Bola Ahmed Tinubu has urged faith leaders to join hands with him to build a strong economy in which the people will prosper.
He also urged them to remain steadfast in promoting interfaith harmony and denouncing violence.
He pledged to partner them and their institutions to tackle poverty, unemployment and inequality.
Tinubu spoke at the opening of the Second Plenary Meeting of the Catholic Bishops Conference of Nigeria (CBCN) in Ikot Ekpene, Akwa Ibom State, yesterday. He said his request to the religious leaders was hinged on the fact that faith-based organisations are “a vital bridge for peace, unity and moral renewal in the country.”
‘’Our efforts in tackling insecurity, expanding social investment programmes, strengthening agriculture and revitalising infrastructure are geared towards creating an enabling environment for Nigerians to live in peace and fulfill their potential.
“I reassure you that the Federal Government will deepen collaboration with the Catholic Church and other faith-based Organisations in key sectors as education, healthcare, social welfare and skills development.
‘’Together, we can tackle poverty, reduce inequality and build stronger communities,” the President said.
He was represented at the event by Secretary to the Government of the Federation (SGF), George Akume.
Senate President, Godswill Akpabio, and Akwa Ibom State Governor, Umo Eno, attended the event, which was witnessed by the representative of Pope Leo XIV, Apostolic Nuncio Most Rev. Michael Francis Crotty, and some members of the National Assembly.
Tinubu told the bishops that genuine reconciliation and national cohesion can only be achieved when spiritual leaders preach peace, discourage extremism, hatred, and divisive tendencies.
He challenged them ‘’to continue speaking truth to power, not only to government but to society.’’
Read Also: Be patient with Tinubu’s reforms, prosperity will come — Akpabio tells Nigerians
Tinubu, in a statement by Akume’s Special Adviser on Media and Publicity, Yomi Odunuga, reminded the clerics that while ‘’speaking truth to power,’’ they should ‘’offer constructive solutions that will help us build a nation where integrity, hard work and compassion are hallmarks of public and private life.”
He lauded the Catholic Bishops and other clerics across denominations for championing dialogue and tolerance in a diverse nation like Nigeria.
“The Catholic Church has been a credible partner in the journey towards national renewal. Your investments in education, health and social welfare—often in remote and underserved communities—speak louder than words. You have stood with the people in times of hardship, provided comfort in times of grief and raised your voice against injustice and corruption,” Tinubu said.
The President assured them that his administration is committed to addressing insecurity and social unrest, including poverty, unemployment and inequality.
He cited removal of fuel subsidy, unification of exchange rates and efforts to curb leakages in public finances as steps toward stabilising the economy and laying a foundation for long-term prosperity.
These policies, though demanding sacrifices in the short term, Tinubu noted, are necessary to put the nation back on the path of growth and long-term prosperity.
The President emphasised that beyond stabilisation, his government is working to attract local and foreign investments by creating an enabling environment for businesses to thrive.
He highlighted reforms in key sectors, such as agriculture, energy, and infrastructure, which are expected to stimulate job creation, boost productivity, and expand opportunities for young Nigerians.
Tinubu said while the results may not be immediate, the reforms are structured to deliver enduring benefits that will uplift lives and secure a brighter economic future for the nation.
He said: “This administration came into office with a firm commitment to renew hope, strengthen our democratic institutions and build a Nigeria that works for all. We have taken steps to stabilise the economy, attract investment and implement reforms that will, in due course, yield enduring benefits for our people.
‘’We recognise that good governance is not just about economic growth, it is about justice, fairness, transparency, accountability and the dignity of every Nigerian.
“It’s also about ensuring that no one is left behind – whether in urban centres or rural communities, whether majority or minority, whether rich or poor.
Tinubu called on religious leaders to complement the government’s initiatives by nurturing honesty, hard work, and compassion in their communities.
He urged the church to continue offering guidance in civic education, environmental protection and youth empowerment.
The President further urged the church to collaborate with the government in advancing civic education, protecting the environment, and empowering young people, so future generations will gain not only academic knowledge but also values needed to uphold the moral fabric of society.
Akpabio urges patience
Akpabio urged Nigerians to be patient with the Tinubu administration’s reforms, as they will soon yield results.
“Let me urge my compatriots to be patient with your government as we lay again the foundations of this house. Do not despair when the winds blow strong or the scaffolding shakes,’’ Akpabio said in a statement by his Special Assistant on Media/Communication, Anietie Ekong.
He said it was important for people to note that a country is like a cathedral that cannot be built in a short space of time
“A nation is like a mighty cathedral — it is not raised overnight, but stone by stone, prayer by prayer, hand by hand – They that wait upon the Lord shall renew their strength; they shall mount up with wings as Eagles (Isaiah 40:31), he said.
“Let us renew hope in the Nigerian enterprise. Let us believe again that our land can be great, that our children can inherit a future brighter than our present.
“Let us bind the wounds of division, banish the cynicism of despair, and walk together—Church and State, pulpit and parliament, faith and policy—towards the dawn.
“Transformation is not the burden of one arm of society, or the privilege of a select few. It is a covenant of partnership. As St. Paul declares: ‘We are co-workers in God’s service; you are God’s field, God’s building.’”
Governor Eno noted that the Catholic Church has played key roles all over the world in fighting injustice, enthroning democratic governance and placing the welfare of the people at the centre of its policies.
Eno called for continued support of the Church in delivering dividends of democracy to the people.
news
Update : No going back on free fuel distribution, says Dangote

‘We offer cheaper fuel despite importing 60% of crude’
Recent attacks against Dangote Petroleum Refinery from some associations in the oil and gas industry were orchestrated to derail the planned free fuel distribution logistics initiative, the management of Dangote Refinery said last night.
It however foreclosed backtracking on the initiative, adding that the attacks lack genuine and patriotic concerns.
In a statement last night, the Refinery said the position of National Union of Petroleum and Natural Gas Workers (NUPENG) and Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) lacks legitimacy and has nothing to do unionisation as being claimed.
“Their position”, according to the statement , “have made it abundantly clear that the actions and threats issued by them is not borne out of legitimate concerns about unionisation, but a calculated campaign of economic sabotage that is orchestrated by vested interests who perceive progress as a threat to their entrenched positions.”
Reacting to a press statement by DAPPMAN, which was published, in some newspapers at the weekend, Dangote Refinery accused the association of misleading Nigerians, noting that their claims were contradicted by established facts.
The statement by Dangote Refinery reads: “In January 2022, the Nigerian National Petroleum Company (NNPC) reported that one of DAPPMAN’s members had supplied petrol containing over 15% methanol, well above acceptable limits (Methanol which is not a standard industry practice or procedure for refinery, but blenders use it to prompt up the octane rating to an acceptable level that is well above anti-knocking ratio).
“The result was widespread engine damage for thousands of end users. Yet, no transparent government inquiry or independent investigation was ever conducted to determine the source, intent, or full impact of the adulterated fuel.”
The refinery also described as incorrect, the claim that the price of petrol in Togo is lower than in Nigeria. It revealed that the average pump price in Lomé stands at approximately 680 CFA francs per litre, equivalent to N1, 826.
“This figure reflects the very scenario that DAPPMAN and its affiliates appear to advocate for in Nigeria. The Dangote Refinery has positioned Nigeria as a primary source of affordable petrol feedstock for West Africa, despite the refinery importing over 60% of the crude oil it processes. Remarkably, the refinery is able to offer petrol at prices below the international benchmark within the sub-Saharan region.
-
news5 years ago
UPDATE: #ENDSARS: CCTV footage of Lekki shootings intact – Says Sanwo – Olu
-
lifestyle5 years ago
Former Miss World: Mixed reactions trail Agbani Darego’s looks
-
lifestyle4 years ago
Obateru: Celebrating a Quintessential PR Man at 60
-
health5 years ago
Chairman Agege LG, Ganiyu Egunjobi Receives Covid-19 Vaccines
-
health5 years ago
UPDATE : Nigeria Records 790 new cases of COVID-19
-
health5 years ago
BREAKING: Nigeria confirms 663 new cases of COVID-19
-
entertainment8 months ago
Ashny Set for Valentine Special and new Album ‘ Femme Fatale’
-
news4 months ago
BREAKING: Tinubu swears in new NNPCL Board