NEWS
Ex-Minister Agunloye Loses Bid To Halt $6bn Fraud Trial
The Federal Capital Territory High Court, Apo, Abuja, delivered a blow to former Minister of Power and Steel, Olu Agunloye, as it dismissed his attempt to contest the Economic and Financial Crimes Commission’s (EFCC) authority to prosecute him.
Agunloye stands accused of involvement in a multi-billion-dollar fraud linked to the Mambilla Power Project contract, amounting to a staggering $6 billion.
On February 8, 2024, Agunloye had, through his counsel, Adeola Adedipe (SAN), filed a motion challenging the powers of the EFCC to investigate and prosecute him, as well as that of the jurisdiction of the court to try him.
However, the prosecution, represented by counsel Abba Muhammed, swiftly responded with a counter affidavit on February 22, 2024, asserting the motion’s incompetence and its contradiction with Section 115(2) of the Evidence Act.
Justice Jude Onwuegbuzie, delivering the ruling on Wednesday, struck out Agunloye’s motion for lack of merit.
He held that Section 6 and 7 of the EFCC Establishment Act, 2004, grant the Commission investigative and prosecutorial powers to initiate investigations into acts of economic and financial crimes.
The judge ruled “On issues of whether the EFCC has the statutory power to investigate and prosecute before a court of competent jurisdiction, I have considered the application of the defence and the respondent, and I hold that the EFCC is charged with the investigation and prosecution of all economic and financial crimes including, contract scams, money laundering, advance fee fraud etc, including the investigation and enforcement of all economic and financial crimes laws, also cause investigation to weather an individual or company, or anybody is likely to commit any crime.
“Since the instant charges brought against the defendant are economic and financial crimes in nature, the motion brought by the defendant lacks merit and is hereby dismissed.”
In addressing the issue of the prosecution fiat obtained by the Commission from the Office of the Auditor-General rather than the Attorney-General of the Federation (AGF), the judge affirmed that in the absence of the AGF, any other state, authority, or person could validly institute criminal prosecution.
He said “Even if the charge has no seal of the Attorney-General of the Federation, that does not stop the potency of the charge, as the Attorney-General may decide on any member of his department he wishes to delegate his powers to carry out his duties by law.”
The judge scheduled the next hearing for May 30, 2024, to continue the trial.
Former Vice President, Atiku Abubakar, has raised fresh concerns over Nigeria’s security situation following deadly bomb attacks in Maiduguri, warning that terrorism is making a dangerous comeback.
In a statement released on Tuesday, Atiku condemned the coordinated explosions that rocked parts of the city, describing them as a troubling sign of renewed insurgent activities.
He noted that the return of suicide bombings, once believed to have been largely defeated, poses a serious threat to national stability.
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23 killed, 108 injured in Maiduguri bomb blasts
The attacks, which occurred on Monday night, targeted the Maiduguri Monday Market, a post office, and an area near the University of Maiduguri Teaching Hospital.
At least 23 people were confirmed dead, while over 100 others sustained injuries, leaving families in anguish as they search for missing loved ones.
Reacting to the development, Atiku warned that the resurgence of terrorism could erode public confidence in the government’s ability to protect its citizens.
He stressed that Nigerians are more interested in concrete results than official condemnations of attacks.
While acknowledging the sacrifices of security operatives, the former vice president urged the administration of President Bola Ahmed Tinubu to urgently review its security strategies to address the growing threats.
He also criticised the government’s handling of insecurity, alleging that more attention appears to be given to political matters than to tackling the worsening security challenges across the country.
Atiku further cautioned against politicising national security, noting that terrorism affects all Nigerians regardless of political affiliation.
He called for unity, decisive action, and a renewed commitment to safeguarding lives and property.
Meanwhile, security agencies have confirmed the incidents and launched investigations into the coordinated attacks as efforts continue to restore calm in the affected areas.
The Nigerian Content Development and Monitoring Board (NCDMB) has launched a 5-day Hands-on Oracle Primavera P6 Training in Rivers State, targeting 50 participants.
The training, being executed by Mathnebi Nig. Ltd, commenced today, March 16th and will run until Friday, March 20th.
The intensive hands-on program aims to equip participants with practical skills in project management using Oracle Primavera P6, enhancing their capabilities in the energy and construction sectors.
The NCDMB’s sponsorship of the training underscores its commitment to boosting local capacity and driving Nigeria’s economic growth through skills development.
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The training is expected to benefit participants and contribute to the development of Nigeria’s project management landscape.
President Bola Ahmed Tinubu has sworn in Mr. Taiwo Oyedele as Nigeria’s new Minister of State for Finance at the Aso Rock Presidential Villa.
The swearing-in ceremony took place shortly after the Senate confirmed Oyedele’s nomination last Wednesday.
Oyedele, 50, from Ikaram, Akoko in Ondo State, brings over two decades of experience in fiscal policy and tax administration.
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He previously chaired the Presidential Committee on Fiscal Policy and Tax Reforms, which overhauled Nigeria’s tax system, introducing zero income tax for Nigerians earning N800,000 or less and exemptions for small businesses with turnovers below N50 million.
During his Senate screening, Oyedele described his appointment as “a call to serve at a critical time when Nigeria faces significant fiscal challenges and remarkable opportunities.”
He replaces Dr. Doris Uzoka-Anite, who has been redeployed to the Ministry of Budget and National Planning.
Oyedele also spent 22 years at PricewaterhouseCoopers, held executive programs at top global institutions including the London School of Economics and Harvard Kennedy School, and currently serves as a professor at Babcock University.
The minister’s appointment signals a continued focus on implementing the Tax Reform Acts, which took effect on January 1, 2026, and aim to simplify Nigeria’s tax system while boosting economic growth.
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