BREAKING; EFCC arraigns Finance Commissioner over alleged N4.6 billion fraud
BREAKING; EFCC arraigns Finance Commissioner over alleged N4.6 billion fraud
The Economic and Financial Crimes Commission (EFCC) will, on Wednesday, arraign Yakubu Adamu, Commissioner of Finance, Bauchi State, over alleged N4.6 billion money laundering.
Adamu, alongside a firm, Ayab Agro Products and Freight Company Ltd, will be arraigned before Justice Emeka Nwite at the Federal High Court in Abuja on a six-count money laundering charge marked: FHC/ABJ/CR/694/2025.
Although Adamu and his co-defendant were to take their plea today, the case could not proceed due to the absence of the EFCC’s lawyer and the defendants.
However, the defendants’ team of lawyers, led by Chief Gordy Uche, SAN, was in court.
Justice Nwite then adjourned the matter until Dec. 24 for plea.
The News Agency of Nigeria (NAN) reports that while Adamu is the 1st defendant, Ayab Agro Products and Freight Company Ltd is the 2nd defendant.
The charge is dated and filed on Dec. 19 by Samuel Chime at the Legal and Prosecution Department of EFCC.
In count one, Adamu, while acting as the Branch Manager of Polaris Bank Ltd, Bauchi, alongside Ishaku Mohammed Aliyu, Managing Director of Makayye Investment Resources Ltd (now at large) and Muntaka Mohammed Duguri (now at large), were alleged to have conspired to commit the offence, sometime between June 2023 to December 2023.
They were alleged to have facilitated and agreed to the conversion, transfer, concealment and use of funds in the sum of about N4,650,000,000.00 (Four Billion, Six Hundred and Fifty Million Naira) availed by Polaris Bank under the guise of financing the supply of motorcycles to Bauchi State Governmeni through Emmanuel Asomugha General Enterprises.
“The motorcycles were not supplied, and you thereby committed an offence contrary to Section 21(a) and punishable under Section 21 of the Money Laundering (Prevention and Prohibition) Act, 2022,” the count read in part.
Count six accused Adamu, Aliyu and Duguri of retaining and causing the transfer of proceeds of an unlawful act to nominees and third parties, by causing parts of the funds connected with the Polaris Bank facility to be paid and circulated through third-party accounts sometime in 2023.
It further alleged that the transfer included the one made through I.S. Makayye Investment Resources Ltd and the transfer of #165, 900,000.00 to Ayab Agro Products and Freight Company Ltd.
The funds were said to formed part of proceeds of an unlawful act.
The offence is contrary to Section 20(a) and punishable under Section 20 of the Money Laundering (Prevention and Prohibition) Act, 2022, among other counts.(NAN)
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BREAKING: Dollar rain on Super Eagles despite AFCON semi final loss to Morocco
BREAKING: Dollar rain on Super Eagles despite AFCON semi final loss to Morocco
The Chairman of BUA Group, Abdul Samad Rabiu, has commended Nigeria’s Super Eagles for their gallant display at the 2025 Africa Cup of Nations.
He said that the monetary pledged by made him still stands in spite of the semifinal defeat by host Morocco.
Nigeria’s Super Eagles suffered a heartbreaking loss from the 2025 AFCON after losing 4-2 on penalties to host Morocco in a tense semi-final clash at the Prince Moulay Abdellah Stadium, Rabat on Wednesday.
Rabiu praised the players’ courage, unity and determination, describing their performance as worthy of national pride and celebration.
The disclosed this in his official X handle, where he congratulated the Super Eagles for their impressive performance and national pride.
“You fought with your hearts, gave your all, and showed true courage on the pitch. Every Nigerian is proud of you,” Rabiu said.
He noted that results do not always reflect effort, stressing that the team’s fighting spirit and passion resonated strongly with Nigerians at home and abroad.
“Sometimes our best efforts don’t bring the outcome we desire, but the spirit and unity you displayed truly matter.
“I am going ahead with the $500,000 pledge in recognition of your hard work, dedication and the joy you brought to our nation,” he said.
The News Agency of Nigeria (NAN) reports that Rabiu had earlier promised the reward following Nigeria’s 2-0 victory over Algeria in the AFCON 2025 quarter-final.
Rabiu urged the players to remain focused, expressing confidence that the lessons from the tournament would inspire future success.
“Keep your heads high. This experience will fuel greater victories. Nigeria believes in you,” the BUA Chairman said.(NAN)
News
Govt offers discount on Vehicle Number Plate replacement, announces new figure
Govt offers discount on Vehicle Number Plate replacement, announces new figure
The Lagos State Government (LASG) has announced a temporary reduction in the cost of replacing faded or damaged vehicle number plates, cutting the fee from ₦30,000 to ₦20,000. The measure, part of a three-month amnesty and rebate window, will run from January to March 2026.
Approved by Governor Babajide Sanwo-Olu, the initiative targets both private and commercial vehicle owners across Lagos, aiming to improve vehicle identification, strengthen security, and enhance road safety throughout the state.
The Permanent Secretary of the Motor Vehicle Administration Agency (MVAA), Rasheed Muri-Okunola, described the rebate as “a deliberate, citizen-focused intervention designed to encourage motorists to voluntarily replace worn, faded, or illegible number plates at a significantly reduced cost.”
He highlighted the security implications of faded or damaged plates, explaining that their condition affects “security, traffic enforcement, and crime prevention, as unreadable plates hinder effective monitoring, investigation, and identification of vehicles.”
“Clear and readable number plates are fundamental to public safety and security. This amnesty period allows motorists to replace faded plates at ₦20,000 instead of ₦30,000, thereby reducing the financial burden while supporting collective efforts to make Lagos safer,” Muri-Okunola said.
He stressed that the rebate is valid only within the January to March 2026 window, urging vehicle owners with faded or damaged plates to take advantage of the initiative by visiting the Pilot Centre at the Oshodi One-Stop Centre or any of the agency’s 140 stations across the state.
According to Muri-Okunola, the programme also addresses rising security concerns linked to unreadable number plates, noting that “legible and standardised plates are critical to crime detection, traffic management, digital vehicle tracking, and emergency response systems.”
He warned that after the amnesty period ends in March 2026, “the replacement fee would revert to the original ₦30,000, while enforcement measures would be fully applied to ensure compliance.”
News
Man fakes his own Kidnapping, forces Brother to sell property for N12 million ransom
Man fakes his own Kidnapping, forces Brother to sell property for N12 million ransom
The Edo State Police Command has uncovered a staged kidnapping in Ekpoma, where a man allegedly faked his own abduction, forcing his brother to sell property to raise a ransom.
The incident was reported to the police on January 10, according to a statement issued by the state Police Public Relations Officer, SP Eno Ikoedem.
Investigations revealed that the supposed victim, identified as Idris Isiaka, a vulcanizer based on Balogun Street in the Emaudo community of Ekpoma, conspired with two accomplices to orchestrate the fake kidnap.
Police said Isiaka arranged for news of his “abduction” to be circulated on social media through a blogger and subsequently demanded a ransom of ₦12 million from his family.
Believing the story to be genuine, his brother reportedly sold a personal property in a desperate bid to secure his release.
However, detectives later uncovered the deception and arrested Isiaka along with his collaborators.
The police described the act as criminal and deceitful, warning members of the public against engaging in similar schemes.
The suspects are currently in custody and are expected to face prosecution once investigations are concluded.
The PPRO explained that the suspect “immediately engineered the circulation of his kidnap on social media through a blogger and demanded a ransom of Twelve Million Naira.
“His family in Kogi State was further contacted, threatening that he would be killed if the ransom was not paid”.
He said the brother, however, “sold his property and paid part of the ransom money which was shared with his accomplices, one Mohammed Saliu and Godwin Mohammed, both of whom are currently at large.
“The suspect has confessed to the crime. He will be arraigned in court after investigation”.
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