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Diezani Alison –Madueke: EFCC Goes After Anyim, Ubah, Others

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Senator Anyim Pius Anyim, immediate past Secretary to the Government of the Federation (SGF)
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The Economic and Financial Crimes Commission (EFCC) is reportedly on the trail of Senator Anyim Pius Anyim, immediate past Secretary to the Government of the Federation (SGF); Chief Ifeanyi Ubah, chairman of Capital Oil and Gas Limited; and Dr. Ngozi Okonjo- Iweala, former minister of finance, in connection with the arrest at the weekend of Mrs Diezani Alison –Madueke, embattled former minister of petroleum resources, in the United Kingdom.

Nigeria CommunicationsWeek cannot independently confirm the development but Nigerian Pilot claimed that a source at the EFCC yesterday told the newspaper on condition of anonymity that the affected persons will be interrogated in connection with the alleged ‘sale of petroleum products, and crude oil’ by Nigerian National Petroleum Corporation (NNPC), to Ubah’s Capital Oil Limited.

 It said that investigations so far revealed that the ‘sale’ was actually funds remitted to Capital Oil accounts for political campaign purposes.

According to the source, about N1.2trillion was allegedly siphoned from NNPC accounts to Capital Oil account to fund presidential campaign of former President Goodluck Jonathan and that Chief Ubah and Senator Anyim were responsible for the disbursement of the funds.

Nigerian Pilot reported that the source said that whereas Capital Oil and Gas Limited and TAN are owned by Ifeanyi Ubah, Anyim was the unseen promoter of TAN.

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The source further added that funds were channelled through a project by name called Transformation Ambassadors of Nigeria (TAN).

He said that as investigation commenced proper, TAN itself would be investigated on how the organization spent over N1.2trillion in less than six months.

On his own part, the immediate past minister of Justice and Attorney General of the Federation, Mr. Mohammed Bello Adoke, SAN, will be quizzed by the anti- graft agency to ascertain if due process was followed in all the transactions particularly in the Oil and Gas sector. He will therefore be asked to explain all he knows about the agreement between NNPC and TAN and the roles played by each party to the agreement.

The EFCC source further added that more ministers of the Goodluck Jonathan era will be facing possible arrest in the aftermath of Friday’s detention of ex- Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke in London for alleged corruption.

Alison-Madueke and the four other suspects arrested along with her were granted bail same day. She is said to be good at keeping records, including handwritten notes.

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According to the source, the embattled Alison-Madueke is “just one of the few cases of ex-ministers under investigation. We have at least about three issues at hand involving other ministers that served under Jonathan but I will not disclose their names,” the source said.

He said former minister of finance will soon “explain to the operatives of the commission her role on the depletion of the $1billion in Sovereign Wealth Fund by about $700million as well as on the reckless granting of tax waivers to oil firms without the approval of the National Economic Council, NEC.”

The ex-ministers are believed to have been implicated by Permanent Secretaries who served under their ministries, particularly Dr. Iweala.

Nigerian Pilot gathered that the voluntary surrender to the National Crimes Agency, NCA, by a Nigerian oil baron laid the foundation for a comprehensive investigation, and arrest of Diezani.

Mrs. Alison-Madueke and her alleged accomplices are expected to be arraigned in a London court today.

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The suspects were questioned for several hours by security agents in London before granting them bail. However, her international passport was seized.

This came four months after British Prime Minister, David Cameron pledged Britain’s support for President Muhammadu Buhari’s war against corruption.

Hours after the ex-minister’s arrest on Friday, operatives of the Economic and Financial Crimes Commission, EFCC, sealed up her highbrow Asokoro, Abuja residence for a search.

The anti-corruption agency had a court warrant to conduct the search.

Meanwhile, a letter of invitation is expected to be dispatched to the affected public office holders as soon as the chairman of the commission endorsed them.

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Ogbaga, Abuja Lawyer to Sue Telcos, DStv over Alleged Unfair Practices

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Ogba Ogbaga, an Abuja-based lawyer, has said that he has been instructed to institute legal proceedings against MTN Nigeria, Airtel Nigeria, Globacom, 9mobile and MultiChoice Nigeria, operators of DStv, over what he described as unfair consumer practices relating to expiring data bundles and television subscriptions.

Ogbaga, Abuja Lawyer to Sue Telcos, DStv over Alleged Unfair Practices

In a statement posted on Facebook, Ogbaga said his law firm, GIMBG Legals, received instructions from its client, KAA, also known as KaaTruths, to challenge the companies’ subscription policies in court.

According to him, the proposed suit will question whether telecom operators and DStv’s subscription models comply with provisions of the Federal Competition and Consumer Protection Act (FCCPA) 2018 and other applicable laws.

Ogbaga alleged that telecom providers operate internet data services that are unfair to consumers, claiming subscribers sometimes do not receive the services they paid for but still lose their subscriptions once the validity period expires.

He also criticised DStv’s subscription model, arguing that consumers lose paid viewing time due to factors such as power outages, adverse weather conditions and service interruptions, while subscriptions continue to count down regardless.

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“Our clients have complained that MTN data services are unduly one-sided,” Ogbaga said, adding that the legal action would also extend to other telecommunications providers and DStv.

He said the court action would seek judicial determination on whether the companies’ subscription practices comply with consumer protection laws.

The lawyer also invited interested legal practitioners to collaborate on the case, saying his firm would provide updates as the matter progresses.

In a separate Facebook post on Wednesday, Ogbaga said previous policy discussions, town hall meetings and debates at the National Assembly had failed to address the concerns raised by consumers.

He argued that telecom operators regularly carry out maintenance and network upgrades that temporarily disrupt services without extending customers’ subscription periods, while DStv subscribers also lose viewing time because of electricity outages and weather-related disruptions.

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NAICOM Issues New Licences to 43 Recapitalized Insurers

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The National Insurance Commission (NAICOM) has commenced the issuance of new licence certificates to insurance companies that successfully met the industry’s new minimum capital requirements, marking the formal beginning of a new regulatory era aimed at strengthening the financial capacity, governance and global competitiveness of Nigeria’s insurance sector.

At a ceremony held at the Commission’s headquarters in Abuja, the Commissioner for Insurance, Olusegun Ayo Omosehin, presented the new licence certificates to compliant operators, describing the exercise as a major milestone in the industry’s recapitalisation programme.

According to the Commission, a total of 43 insurance companies declared compliant with the new capital requirements are expected to receive the new licence certificates in phases.

Omosehin congratulated the successful companies, saying the issuance of the new licences signals the beginning of a stronger regulatory framework anchored on improved capitalisation, sound corporate governance, innovation and sustainable growth.

He urged operators to leverage their enhanced capital base to develop innovative insurance products, improve operational efficiency and deepen insurance penetration across the country.

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The Commissioner said the Commission expects the recapitalised companies to deliver stronger financial performance while maintaining high standards of professionalism and customer service.

He also announced that NAICOM’s next major regulatory initiative would be the implementation of the Risk-Based Capital (RBC) framework, under which insurers’ capital levels would be aligned with the risks inherent in their respective business portfolios.

According to him, the new framework will further strengthen the industry’s resilience by ensuring that insurers maintain capital commensurate with the risks they underwrite, thereby enhancing policyholder protection and boosting market confidence.

Omosehin reaffirmed the Commission’s commitment to removing regulatory impediments where necessary while maintaining effective oversight to safeguard policyholders and strengthen confidence in the insurance market.

The issuance of the new licence certificates marks the commencement of a phased transition to higher capital standards aimed at improving the financial capacity, solvency and claims-paying ability of insurance companies operating in Nigeria.

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Nigeria CommunicationsWeek Retracts Story on Pan African Towers Litigation

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Management of Nigeria CommunicationsWeek Media has withdrawn its publication titled “Adefolarin Ogunsanya and the Allegations of Shareholder Interference and Self-Dealing at Pan African Towers,” which was published on its platform.

Nigeria CommunicationsWeek Retracts Story on Pan African Towers Litigation

The decision to retract the story follows an editorial review to ensure that the platform maintains the highest standards of accuracy, fairness and responsible journalism in reporting matters that are the subject of ongoing judicial proceedings.

Nigeria CommunicationsWeek acknowledges that the issues raised in the publication remain before the courts and have not been finally determined.

Accordingly, the organisation has decided to remove the article from its platforms pending the conclusion of the legal processes or the availability of additional verified information.

The publication regrets any inconvenience or misunderstanding the report may have caused to readers or any individuals or organisations mentioned in the story.

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Nigeria CommunicationsWeek remains committed to the principles of balanced, factual and ethical journalism and will continue to uphold professional standards in its coverage of judicial and corporate governance matters.

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