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Alleged N785m fraud: Court orders arrest of Imo state Deputy Speaker,  Iwuanyanwu

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Man arraigned in court over threat to life in Osun

Following his alleged involvement in a N785million fraud, the Federal High Court in Abuja issued an arrest warrant for Hon. Amarachi Iwuanyanwu, the deputy speaker of the Imo state House of Assembly, on Friday.

The Economic and Financial Crimes Commission, EFCC, the Nigeria Police, the Department of Statistic Services, the Nigerian Immigration Services, and Interpol were ordered by the court in a ruling delivered by Justice Inyang Ekwo to immediately arrest the lawmaker “anywhere he is sighted in Nigeria or outside Nigeria and produce him before this honorable court or to the EFCC headquarters, Abuja.”

The EFCC filed an ex-parte motion with the court on November 14 through its attorney, Mr. Olanrewaju Adeola, which led to the court ordering Iwuanyawu’s detention.

The EFCC informed the court that it received information that the legislator had since fled the nation and was currently hiding in the United States of America, USA, in the application with the file number FHC/ABJ/CS/2124/2024.

It informed the court that the Respondent declined to show up to answer a petition filed against him and his business, Sun Gold Estate Limited.

The EFCC claims that Hakiz Investment Company Limited entered into a Memorandum of Understanding, or MoU, with Iwuanyawu’s company at some point in 2012 to develop an estate with 14 units of four-bedroom terrace homes and one block of six flats on the petitioner’s land in Mabuchi, Abuja. The petition was signed by the company’s lawyer, Mr. A. A. Malik, SAN, and was addressed to the EFCC’s Chairman.

It informed the court that the terms of the agreement were as follows: Upon Respondent’s completion of the estate, the complainant—who is the landowner—would receive 40% of the building, and Respondent—who is the developer—would receive 60% of the building.

However, the anti-graft agency alleged that its investigations revealed that “upon completion of the estate, the Respondent sold all the buildings and criminally diverted the funds without the knowledge of the Complainant”.

“That the market value of 40% of the buildings is about N785million.

“That investigation is still ongoing and all invitations extended to both Iwuanyanwu and his company proved abortive.

“That a lawyer to the Respondent had on one of the occasions, received a copy of the invitation on his behalf and made promises that he would be available for questioning.

“That there is an intelligence report that the Respondent is in the USA.

“That without the suspect being apprehended or voluntarily coming to state their side of the story, the investigation will be incomplete.

“That in the light of the calculated effort by the suspect to remain evasive, there is need to place the suspect on watch list of the Commission, the police and any other law enforcement”, EFCC averred in an affidavit that was deposed to by one of its officials, Ufuoma Ezire.

According to the EFCC, the court should issue an arrest warrant for the Respondent in the interest of justice.

It used section 35(1)(c) of the 1999 Constitution, as amended, sections 3, 37, and 39(1) of the Administration of Criminal Justice Act, 2015, as well as sections 6, 7, 13, and 41 of the EFCC (Establishment Act), to support the request for an arrest warrant to be issued against the Respondent.

The Commission testified before the court that it has since sent letters outlining its investigation operations to the Corporate Affairs Commission, banks, and other pertinent organizations.

Meanwhile, in his ruling, Justice Ekwo held that there was merit in the ex-parte application and accordingly granted it.

Specifically, the court, made an order: “Issuing a warrant of arrest against Hon. Amarachi Iwuanyanwu.

Justice Ekwo adjourned the matter till February 23 for report.

 

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‘Not Off the Table’ — FG Threatens Retaliation Against South Africa Over Xenophobic Attacks on Nigerians

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The Federal Government has warned that retaliatory measures against South African interests in Nigeria remain under consideration following the recent wave of xenophobic attacks targeting Nigerians and other foreign nationals in South Africa.

Minister of Foreign Affairs, Bianca Ojukwu, expressed the government’s frustration on Monday, accusing South African authorities of failing to adequately protect Nigerians from harassment, intimidation, and attacks.

Speaking to State House correspondents in Abuja, Ojukwu rejected claims that most Nigerians affected by the violence were undocumented migrants, insisting that many of them are law-abiding residents engaged in legitimate businesses.

“To say that Nigerians who are in South Africa doing legitimate business are illegal migrants is absolutely untrue,” she said.

The minister noted that Nigerians were unhappy with the treatment being meted out to them despite Nigeria’s historic support for South Africa during the struggle against apartheid.

SEE ALSO: Atiku Knocks FG’s ‘Sluggish’ Handling of South Africa Xenophobic Violence

“Nigeria is not happy because Nigeria sacrificed much for the South African struggle for independence. Nigeria committed funds and resources to aid South Africa. My generation demonstrated and protested in support of South Africa. Nigerians are not happy about how they have been treated,” Ojukwu stated.

When asked whether Nigeria could impose restrictions on South Africans living or doing business in the country, the minister said such measures had not been ruled out.

“That is a situation we are considering. This is a decision that has to be taken at the highest level of government, but it is not off the table,” she said.

Meanwhile, the Federal Government has activated a crisis response mechanism through the Nigerian Mission in Pretoria and the Nigerian Consulate in Johannesburg to assist citizens affected by the attacks.

Ojukwu disclosed that President Bola Tinubu had directed relevant agencies to ensure the safe evacuation of Nigerians willing to return home.

According to her, the number of citizens seeking repatriation continues to rise as the situation worsens in parts of South Africa.

She explained that both Nigerian and South African authorities were carrying out screening and documentation processes to facilitate the return of affected citizens.

The minister also assured that returnees would receive support upon arrival in Nigeria through collaboration with the National Emergency Management Agency (NEMA) and other government agencies.

In a related development, the Ministry of Foreign Affairs announced the postponement of the planned evacuation of 270 Nigerians from South Africa, citing unforeseen logistical challenges.

The ministry’s spokesperson, Kimiebi Ebienfa, said the flight, originally scheduled to depart Johannesburg on Monday, had been rescheduled for Wednesday to allow authorities complete necessary arrangements.

Ebienfa disclosed that more than 1,000 Nigerians had already been screened and cleared for possible evacuation.

He also clarified that, unlike previous evacuation exercises, the Federal Government would fully fund the operation and would not depend on donations from private individuals.

“The Nigerian government will not wait for philanthropists to donate their planes before doing what it is supposed to do and evacuate its citizens facing trouble anywhere in the world,” he said.

The latest developments came after South African President Cyril Ramaphosa addressed the nation on the growing anti-migrant tensions, condemning attacks on foreign nationals while promising stricter enforcement of immigration laws.

Ramaphosa urged citizens to reject violence and resolve concerns through lawful means.

“We must end illegal migration and secure our communities. However, we must overcome these challenges through peace and love, not through fear, anger or violence,” he said.

The Federal Government has reiterated its commitment to protecting Nigerians abroad and ensuring the safe return of those affected by the ongoing crisis.

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Agip Retirees Lament over 17 Years Outstanding Pension after Oando Takeover 

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Leaf Investment Emerges Substantial Investor in Oando

Former staff members of the Nigerian Agip Oil Company (Oando Energy Resources Nigeria Limited), have staged a peaceful protest demanding payment of their pension salary, which has not been paid in the last 17 years.

The senior citizens, who protested under the platform, Agip Oil Company Pensioners Association of Nigeria (AOCPAN), accused the management of the company of unilaterally stopping the payment without any reason. The retirees, who brandished placards with different inscriptions, lamented that their members were dying in numbers because of hardship and inability to meet their daily needs.

They condemned the inhumanity of Oando’s management towards the vulnerable retirees, stressing that the company has blocked its gate concerning any issues about the retirees.

Some of their demands are: “Oando management is strategically out to exterminate the retirees through zero welfare support for the retirees.

“Oando bought the assets and liabilities of Agip; but, has trickishly taken the assets and abandoned the major liabilities – the retirees of Agip that bought.”

Chairman of the group, Engr. Elder Paul Sito, who addresses newsmen at the front of the company in Port Harcourt, Rivers State, yesterday, alleged spouses of late retirees were denied access to medical services which are supposed to be for lifetime.

According to Elder Paul, the management of the company does not have a welfare plan for the retirees, adding that senior citizens have been abandoned without any economic and welfare support.

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Speaking further, the chairman claimed that the management has refused to follow the steps of other companies concerning retirees’ welfare.

He said: “The reasons for the protest are many; we were retirees of Agip Oil Company and as a retiree, there is a pension act concerning retirees. There are welfare and pension monthly payments for these retirees. We received this pension welfare or pension salary for years until it stopped in 2009.

“Management unilaterally stopped it. We don’t even know why, they gave us reasons that are not obtainable in the world, the reason is that because a new management came, they were looking for documents to show that the payment they have been doing should continue (a payment that they were making should continue, they are looking for a document to approve that payment) and because they didn’t see it they stopped unilaterally?”

Paul explained further: “And the association picked it up, when the association was so new and its major focus was on increase in minimum wage, which they continued with the management.

And at that time, we never had what we now call (HIPAN) Hydrocarbon Industry Pensioners Association of Nigeria – the gathering of all the five companies’ retirement representatives.

“They meet and check their books to see who is doing less and who is doing more, so that those who are doing less will go back to their management and inform them appropriately like it has always been done when we were in service and that continued until 2009 when they stopped it.

“Up till today, we have never gotten a dime. In 2023, we came out like this and they gave us 1% or less; in 2024, we also came out, they gave us another half of 1%; and now, they have cut short the welfare for our deceased spouses which was supposed to be for life, they have cut it short to two years.”

The chairman emphasized: “We are asking them to reinstate it. It is for life, every other IOC (International Oil Company) is serving for life. “We are saying whatever the retirees of each of these companies get during negotiations should be applied to the retirees in Oando.”

He lamented: “All this while, we have been suffering, we have written letters to them telling them that we want to meet so that we can give them our charter of demand; we did that last year July. they replied that okay, they have heard from us officially, that they’ll go and look for it, they went and kept looking at it for months. When our letters will not be replied anymore.

“We planned to come out and they heard of it and they immediately called us for a meeting. We went and they still promised us and up till now, they brought nothing. The other oil companies are increasing pensioners salaries every year, but here, it’s a different story.”

One of the retirees, who simply gave her name as Mrs. Regina, lamented that the stipend they receive from the company is of no value to the current economic condition in the country.

High Chief Oluwa Oluwaneye said: “You can see me, I was not like this, I was a good player and a good wrestler and now what God gave to me to satisfy my family, I can’t provide it again because of the condition.

“I entered this Agip in 1955. He (owner of Oando) said he is fit to buy the company; he should know that the people who worked in the company and gave him the power to come and buy, he should empower them.”

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Loss of 5 Rigs Threaten Govt’s Revenue

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A sharp decline in oil drilling activities which has led to the loss of five active rigs within a month might be threatening Nigeria’s revenue outlook.

According to a report by the African Energy Council (AEC), the slump in Nigeria’s rig count has raised concerns over future crude production, government earnings and fiscal stability.

The report revealed that Nigeria’s active rig count dropped from 17 in March to 12 in April 2026, representing a decline of nearly 30 per cent in just one month and signalling weakening upstream investment and exploration activities.

Rig count, a key indicator of oil and gas exploration and production activities, measures the number of drilling rigs actively operating within a country or region.

Industry experts often regard it as a leading indicator of future production levels. The development comes at a time when Nigeria is struggling to meet its crude oil production targets and relies heavily on petroleum earnings to finance government expenditure.

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According to the report, the decline in rig activity poses a direct threat to the Federal Government’s 2026 budget benchmark of 1.84 million barrels per day (bpd), especially as actual production stood at about 1.48 million bpd in April 2026.

The AEC noted that while the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reported 31 active rigs during the period, the Organisation of Petroleum Exporting Countries (OPEC) placed the figure at 12.

It explained that the discrepancy likely reflects differences in counting methodologies, including whether rigs on standby are classified as active.

Despite the differing figures, the Council stressed that both data sets point to a downward trend in drilling activity.

The think tank warned that with only 12 active rigs operating in April, Nigeria’s future production capacity is under severe threat unless urgent measures are taken to reverse the decline.

It further observed that the country’s rig count had already fallen from 15 in 2024 to 13 in 2025, indicating that several potential barrels that should have contributed to current production were never drilled.

“AEC views Nigeria’s upstream retreat with serious concern. A 41.7 per cent single-month rig count collapse, compounding revenue losses exceeding $3.1 billion, and a widening gap between NNPC’s 2030 ambitions and ground-level drilling activity signal a sector in structural distress rather than a cyclical downturn,” the report stated.

While Africa drills forward, Nigeria drills back. Without urgent policy action, Nigeria risks permanently ceding both its relevance within OPEC and its opportunity to monetise reserves before the global energy transition narrows that window.

The warning comes against the backdrop of mounting fiscal pressures. Oil revenues account for roughly 60 per cent of government earnings, meaning lower production could translate into wider budget deficits and increased borrowing.

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