A prosecution witness, Adewale Agunbiade, on Monday, narrated before Justice Jude Onwuegbuzie of the Federal Capital Territory High Court, Apo, Abuja, how former Minister of Power and Steel, Olu Agunloye, allegedly received multiple transfers of N5.2 million from Jide Sotirin Abiodun, a staff member of Sunrise Power and Transmission Ltd.

Agunbiade told the court that Agunloye received the funds from Abiodun via multiple transfers and ATM withdrawals.

Agunbiade, a compliance officer now with Jaiz Bank Plc who formerly worked at Guaranty Trust Bank (GTB), testified in the ongoing trial led by the Economic and Financial Crimes Commission (EFCC) on corruption charges.

EFCC is prosecuting Agunloye on seven-count charges, bordering on official corruption and fraudulent award of the Mambilla Power Project contract to the tune of $ 6 billion to Sunrise Power and Transmission Ltd.

While being questioned by prosecution counsel Rotimi Oyedepo, Agunbiade revealed that in October 2022, GTB received an inquiry from the EFCC about Agunloye and Abiodun’s accounts.

“On October 2022, GTB received an investigation activity inquiry from EFCC in respect of the accounts of two customers, Mr Olu Agunloye and Mr Jide Sotinri,” Agunbiade said.

“My team received the requests on behalf of the bank, following which I generated the statement of account via the system used by me at the time. I also prepared the Certificate of Identification, following my review of the statement against the records of the bank. I cosigned the cover letter of the responses.”

The prosecution counsel then presented documents, including letters between the EFCC and GTB (marked as Exhibit 1a and 2a), as well as GTB’s account responses (Exhibit 2a and 2b).

Agunbiade identified and confirmed these documents, saying “On page two of Exhibit 2b is the statement of Jide Sotirin Abiodun and the Certificate of Identification prepared by me on the statement of the account. On the 10th of September 2019, there were six transactions.

“The last five transactions were ATM cash withdrawals of N30,000 each. The last transaction on 10 August 2019 was a transfer of N3,600,000.00 from Sotirin Jide Abiodun to Olu Agunloy.”

The witness also revealed additional transfers from Abiodun to Agunloye, including N500,000 on October 22, 2019, and N1,121,000 on November 13, 2019.

He disclosed that “as of 22 October 2019, a record of N500,000.00 was transferred from Sotirin Jide Abiodun to Olu Agunloye. On 13 November 2019, a record of N1,121,000 from Leno in favour of Agunloye Olu from Jide Sotirin. Exhibit 1b is an account opening belonging to Agunloye Olu. On 10 August 2019 was an inward transfer of N3,600,000.00 from Sotinrin Jide Abiodun. On 22 October 2019, there was an inflow of N500,000 from Sotirin Jide Abiodun. Also on 13th November 2019 was an inflow of N1, 121,000 (One Million One Hundred and Twenty-one Thousand Naira) in favour of Agunloye Olu from Jide Sotirin.”

The case was adjourned until Monday, October 21, 2024, for cross-examination.Mambila Project Fraud: How N5.2m was wired to Agunloye; witness tells court

A prosecution witness, Adewale Agunbiade, on Monday, narrated before Justice Jude Onwuegbuzie of the Federal Capital Territory High Court, Apo, Abuja, how former Minister of Power and Steel, Olu Agunloye, allegedly received multiple transfers of N5.2 million from Jide Sotirin Abiodun, a staff member of Sunrise Power and Transmission Ltd.

Agunbiade told the court that Agunloye received the funds from Abiodun via multiple transfers and ATM withdrawals.

Agunbiade, a compliance officer now with Jaiz Bank Plc who formerly worked at Guaranty Trust Bank (GTB), testified in the ongoing trial led by the Economic and Financial Crimes Commission (EFCC) on corruption charges.

EFCC is prosecuting Agunloye on seven-count charges, bordering on official corruption and fraudulent award of the Mambilla Power Project contract to the tune of $ 6 billion to Sunrise Power and Transmission Ltd.

While being questioned by prosecution counsel Rotimi Oyedepo, Agunbiade revealed that in October 2022, GTB received an inquiry from the EFCC about Agunloye and Abiodun’s accounts.

“On October 2022, GTB received an investigation activity inquiry from EFCC in respect of the accounts of two customers, Mr Olu Agunloye and Mr Jide Sotinri,” Agunbiade said.

“My team received the requests on behalf of the bank, following which I generated the statement of account via the system used by me at the time. I also prepared the Certificate of Identification, following my review of the statement against the records of the bank. I cosigned the cover letter of the responses.”

The prosecution counsel then presented documents, including letters between the EFCC and GTB (marked as Exhibit 1a and 2a), as well as GTB’s account responses (Exhibit 2a and 2b).

Agunbiade identified and confirmed these documents, saying “On page two of Exhibit 2b is the statement of Jide Sotirin Abiodun and the Certificate of Identification prepared by me on the statement of the account. On the 10th of September 2019, there were six transactions.

“The last five transactions were ATM cash withdrawals of N30,000 each. The last transaction on 10 August 2019 was a transfer of N3,600,000.00 from Sotirin Jide Abiodun to Olu Agunloy.”

The witness also revealed additional transfers from Abiodun to Agunloye, including N500,000 on October 22, 2019, and N1,121,000 on November 13, 2019.

He disclosed that “as of 22 October 2019, a record of N500,000.00 was transferred from Sotirin Jide Abiodun to Olu Agunloye. On 13 November 2019, a record of N1,121,000 from Leno in favour of Agunloye Olu from Jide Sotirin. Exhibit 1b is an account opening belonging to Agunloye Olu. On 10 August 2019 was an inward transfer of N3,600,000.00 from Sotinrin Jide Abiodun. On 22 October 2019, there was an inflow of N500,000 from Sotirin Jide Abiodun. Also on 13th November 2019 was an inflow of N1, 121,000 (One Million One Hundred and Twenty-one Thousand Naira) in favour of Agunloye Olu from Jide Sotirin.”

The case was adjourned until Monday, October 21, 2024, for cross-examination.

Aliko Dangote, President of Dangote Group and owner of the 650,000 bpd Lagos refinery, has criticised the Nigerian National Petroleum Company Limited (NNPCL) for reducing its stake in his refinery from 20% to 7.2%.

During an interview with Bloomberg Television, Dangote stressed that the NNPC’s decision was a mistake, explaining the favourable deal that was originally offered to the company.

“We gave them (NNPC) a good deal. We said, okay, fine, we structured an agreement. The first agreement was that they were going to pay us a billion dollars. The deal was about $2.79 billion. And then the balance of the money, $1 billion, which they paid us over a year and a half ago, and then the balance of the money was split into two.

“One position was that every crude they supply to us, 300,000 barrels per day, we’ll deduct $2 and then up to the time they finish paying that, one third. The other one third will come out of their own profit. So, why NNPC opted out is a little bit confusing.

“They wanted this agreement to be changed where they wanted to pay cash, not in any other way. So, we said, okay, fine. We signed another agreement, you know, cancelling the other one. The new agreement that we signed was for them to pay us after one year, no interest, after one year, they’ll pay us the balance of $1.8 billion.

“The month for them to pay was June. And by June they came back to us and said, no, they’ve changed their minds and they want to remain at 7.2 per cent. So, okay, fine. So, we left it and we now own the rest of the shares, they own 7.2 per cent. And that’s what it is. But I think they made a big mistake.

“But no, there’s no negotiation. The agreement is finished, dead, completed. It’s 7.2 per cent,” he stated.

Despite the reduction in the NNPC’s stake, Dangote revealed that his refinery would still receive 390,000 barrels per day of crude from the NNPC in October.

He noted that selling crude and fuel in naira would reduce pressure on the Nigerian currency by 40%.

On the upstream sector, Dangote disclosed ownership of two oil blocks set for production next month but added that he would not heavily invest in that segment.

Dangote also addressed fuel prices, stating that his refinery’s product is 15-20% cheaper than imported gasoline. He expressed confidence that the refinery’s output would stabilise the naira and provide clarity on Nigeria’s actual fuel consumption.

Additionally, Dangote reflected on his earlier ambitions to purchase Arsenal Football Club, admitting that the timing and financial commitment required for the $20 billion refinery project made the acquisition impossible.

Nigeria is set to become the first West African manufacturing hub for insecticide-treated nets (ITNs) following a Memorandum of Understanding (MoU) signed between the Nigerian government and Vestergaard Sàrl.

The MoU, announced on Tuesday and facilitated through the Presidential Initiative for Unlocking the Healthcare Value Chain (PVAC), aims to establish a facility that will produce 10 million insecticidal nets annually, creating 600 jobs in the process.

Africa accounts for 95% of global malaria cases, with Nigeria bearing one-quarter of that burden. The new facility will also be the first on the continent to produce dual active-ingredient nets, addressing insecticide resistance in the ongoing battle against malaria.

The partnership will establish a joint venture between Vestergaard and a local Nigerian manufacturing partner, with support from MedAccess, a social investor backed by British International Investment. Vestergaard is also discussing financing opportunities with the U.S. International Development Finance Corporation (DFC). Once operational, the facility will supply both domestic and international markets.

“If successful, the joint venture will result in a state-of-the-art manufacturing facility that is expected to function as a flagship on ITN quality and bioefficacy performance, as well as industrial health, safety and sustainability practices,” a statement by Sarah-Jane Loveday, Vestergaard’s Director of Communication & Marketing, said on Tuesday.

“At scale, the planned facility would produce 10 million PermaNet® Dual long-lasting insecticidal nets every year, for both domestic use in Nigeria and international export. It would create around 600 jobs in Nigeria.”

We cannot afford to underestimate the power of prevention in our fight against malaria
Dr Muhammad Ali Pate, Hon. Minister of Health for Nigeria, said: “Increasing access to long-lasting insecticide-treated nets is crucial. We cannot afford to underestimate the power of prevention in our fight against malaria. Collaborative efforts, such as this, are essential to mobilising the resources and expertise needed to combat malaria effectively.”

Dr Abdu Mukhtar, National Coordinator of PVAC, said: “High standards in local production are non-negotiable. By investing in local bed net production, we are not only improving health outcomes but also paving the way for a self-sufficient healthcare system that can withstand global challenges. This partnership with Vestergaard is a significant step towards attaining this for Nigerians and the broader West African population. ”

Michael Anderson, CEO of MedAccess, said: “Next generation mosquito nets are powerful tools to save lives and prevent debilitating disease. Regional manufacturing is in turn a critical tool to ensure that the nets are available quickly, reliably, and sustainably. This agreement between the Government of Nigeria and Vestergaard underlines an important commitment to protecting people from malaria while strengthening supply chain resilience in the region. MedAccess is looking forward to working in partnership to explore how innovative finance can support this initiative.”

Jim Polan, Vice President, Office of Health & Agribusiness at the U.S. International Development Finance Corporation (DFC), said: “DFC’s investments in regional manufacturing, particularly in Africa, aim to strengthen health system resilience and diversify supply chains. We are exploring a variety of opportunities to expand access to critical health products, including bed nets, to ensure the region is better prepared to respond to malaria and other vector-borne transmission due to changing climate patterns.”

Amar Ali, CEO of Vestergaard, said: “This partnership exemplifies the leadership and commitment of the Nigerian government in the fight against malaria. We are very grateful for their engagement and support as we work together with partners to create a cutting-edge facility that will set a global benchmark in the manufacturing of dual-insecticide nets.”

 The UN Subcommittee on Prevention of Torture (SPT) visited Nigeria for the second time from 8 to 19 September 2024 to assess the treatment of individuals in detention, and whether the country had strengthened its capacity to protect the human rights of people deprived of liberty, including through the proper functioning of a National Preventive Mechanism (NPM).

“The delegation regrets the lack of cooperation from Nigerian authorities, during and prior to the visit. We were confronted with a climate of hostility and faced access issues in several places of detention. Receiving the SPT’s visit and allowing it to exercise its mandate without obstruction is an international obligation under the Optional Protocol to the Convention against Torture (OPCAT) which Nigeria ratified in 2009,” said Shujune Muhammad, the head of the delegation.

The SPT delegation visited numerous places of deprivation of liberty, including detention facilities for men, women and children, police stations, criminal investigation departments, as well as facilities run by agencies combating drug and people trafficking, among others.

“The situation in most places of detention is abysmal. Nigeria must urgently take measures to prevent torture and ill-treatment, and to improve conditions of detention, especially in police stations and other similar facilities. Legal safeguards must be immediately implemented, and the current impunity of perpetrators for acts of torture must end,” she said.

The delegation also met with the Minister of Justice, parliamentarians, judges, prosecutors, and other relevant authorities, the Bar association, civil society organizations, and UN agencies.

“It has been 10 years since the first SPT visit, and Nigeria is yet to establish a functional national preventive mechanism. This unfortunately shows that the prevention of torture and ill-treatment is not taken seriously by the State party, and the horrific situation we have documented speaks to this. We urge authorities to urgently finalize the establishment of an independent functional preventive mechanism,” said Muhammad.

At the end of the visit, the delegation presented its confidential preliminary observations to the Government of Nigeria, highlighting its serious concern about the lack of commitment from authorities in preventing widespread torture, ill-treatment and in improving conditions of detention.

Following its visit, the Subcommittee will send Nigeria a confidential report containing its observations and recommendations and encourages the State party to make it public, to facilitate implementation.

The SPT delegation included Aisha Shujune MUHAMMAD (Maldives) Head of the delegation, Satyabhooshun Gupt DOMAH (Mauritius), Andrew Christoffel NISSEN (South Africa), and Victor ZAHARIA (Moldova), accompanied by two Human Rights Officers from the Office of the High Commissioner for Human Rights.

The Niger Delta Development Commission (NDDC) has inaugurated its committee for the 2025 budget.

According to a post on the official X account of the commission on Tuesday morning, the inauguration took place at the NDDC headquarters in Port Harcourt, Rivers State.

Key officials attended the event including the NDDC Managing Director (MD), Dr. Samuel Ogbuku and Executive Director of Corporate Services, Hon. Ifedayo Abegunde alongside several departmental directors.

According to the post on X, the newly formed committee is tasked with preparing and overseeing the implementation of the 2025 budget.

During the inauguration, Dr. Ogbuku stressed the importance of involving stakeholders from across the Niger Delta to ensure it effectively addresses the needs of the community.

He highlighted that proper consultation is essential for creating a budget that has a lasting impact.

Ogbuku noted that in 2024, the NDDC included all nine state governors in the budget process and this collaborative approach will continue into 2025 to foster greater participation from key stakeholders.

He emphasized the need for the committee to learn from challenges encountered during the preparation of that of 2024 to enhance the effectiveness of the upcoming budget.

The MD also called attention to the necessity of prioritizing specific areas such as education and infrastructure, particularly given the commission’s limited resources.

“I urge the committee to focus on ongoing projects while introducing only a few new initiatives, ensuring that the 2025 budget meets its objectives and improves the quality of life in the Niger Delta,” Ogbuku said.

The Director of Planning, Research, and Statistics, Davies Okarevu, expressed gratitude to Ogbuku for inaugurating the committee.

Okarevu also assured that the committee would adhere to a set timeline and incorporate all directives provided by the MD.

Aliko Dangote, Chairman of Dangote Group, has expressed regret over missing the opportunity to buy Arsenal for $2 billion in the past.

Speaking with Bloomberg’s Francine Lacqua in New York on Monday, Dangote acknowledged that the chance to purchase the Premier League club may have passed.

“I think that time has passed. The last time we had this interview, I mentioned that once I finished the refinery, I would try to buy Arsenal,” he said.

“But the issue now is that everything has gone up, and the clubs are doing well—especially Arsenal, who are performing exceptionally well now.

Back then, they weren’t doing as well.”He continued, “I don’t think I have the excess liquidity to buy a club for $4 billion just for promotional purposes. I’d rather invest the money elsewhere.

I’ll always remain Arsenal’s biggest fan and continue watching their games, but buying the club doesn’t seem sensible at this point.

.”Reflecting on the missed opportunity, Dangote added, “I do regret not buying Arsenal earlier when I could have for $2 billion, but at the time, my resources were more needed for completing my other projects.”