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Trial of Echefu, TStv MD, ED for Tax Evasion, Money Laundering Begins November 26

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Justice Inyang Edem Ekwo of the Federal High Court, Abuja, has fixed November 26 for the trial of Dr. Bright Ikechukwu Echefu and Dr. Felix Nnamdi Ignoanuga, said to be executives of the Telecom Satellites Television (TSTV), over fraudulent charges brought against them by the Federal Government.

Trial of Echefu, TStv MD, ED for Tax Evasion, Money Laundering Begins November 26

Echefu who is the managing director and chief executive officer and Dr Felix Nnamdi Ignoanuga, the executive eirector of the telecoms company, were arraigned by the Economic and Financial Crimes Commission (EFCC), on June 6, 2024, on nine count of alleged advanced fee fraud, tax evasion and money laundering.

The suit marked: FHC/ABJ/CR/254/23, had Telecom Satellites Limited and another company, Briechberg Investment Limited, also cited as 3rd and 4th defendants, respectively.

Justice Ekwo was supposed to have commenced trial of the defendants on July 15, 2024 but for an official engagement which took him out of Abuja.

The Registrar of the court had informed the lawyers, accused persons and other litigants that dates for their matters would be communicated to them by the Judge upon his return to Abuja.

In a notice of trial date communicated to the parties, Justice Ekwo said that November 26 has been scheduled for the EFCC to open their case against the defendants.

The November date was said to have been picked by the Judge following the yearly vacation of the Federal High that will end in October this year.

The EFCC, among other things, alleged that the defendants the two men had on May 18, 2020 committed money laundering bordering on tax invasion, unremitted VAT, Company income tax and Pay As You Earn (PAYE) deducted from the salaries of 165 workers punishable under section 15 of the Money Laundering Prohibition Act 2011 as amended in 2012.

They were alleged to have diverted to their personal use, tax funds, to the tune of N33. 9M, N13. 5M and N19. 4M, payable to the federal government in breach of section 15 of the Money Laundering Prohibition Act.

Alao, the EFCC alleged that they 1st defendant, Dr. Echefu, defrauded a Senior Advocate of Nigeria, SAN, Turaki Kabir Tanimu, of the sum of N960m under false pretences.

The charge indicated that Echefu while acting as the Managing Director of Briechberg Investment Limited on May 18, 2020 with intent to defraud obtained the sum of N150M from Tanimu who is the Managing Director of Kalsiyam Farm as loan to acquire modern equipment for his telecom company.

EFCC added that the said loan was paid into Briechberg Investment Limited’s account number: 1015561485, domiciled at Zenith Bank.

On the same day, the accused person was said to have obtained another N380M paid into the same account for the same purpose while another N400M was also allegedly secured by the accused the same day and for the same purpose from Tanimu who is also the MD of BYI General and paid into the same account.

Still on the same May 18, 2020, Turaki SAN, while acting as Managing Director of K. T Turake made two payments of N15M each into the Briechberg Investment Limited bank account belonging to Dr Bright Ikechukwu Echefu for the same purpose.

As at the time the transactions took place, Turaki, SAN, who was present in court during the arraignment of the defendants, was a serving Minister of the Federal Republic of Nigeria.

It would be recalled however that the two accused persons pleaded not guilty when the charges were read to them.

Mr. Sylvanus Tahir, SAN, counsel to EFCC, applied for the defendants to be remanded in custody, however, following an application by their lawyer, Mr. Eyitayo Fatigun, SAN, the court okayed their release on administrative bail, earlier handed to them by the EFCC.

He, however, warned the defendant not to travel out of the country without the permission of the court, adding that the Nigerian Immigration Service, NIS, should be notified of the seizure of their international passports.


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Beware of Fake Cerelac Products – NAFDAC

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National Agency for Food and Drug Administration and Control (NAFDAC) has alerted Nigerians on counterfeit and unregistered Cerelac Mixed Fruits and Wheat products being sold in Lagos.

Beware of Fake Cerelac Products – NAFDAC

NAFDAC said Nestle Nigeria, the genuine Marketing Authorisation Holder of the product, received a complaint of suspected counterfeit purportedly manufactured by Nestlé Spain, bearing Batch Code 308002910.

It said that Nestle Nigeria reported that the complainant described that the counterfeit product emitted an odour suggestive of possible contact with fuel.

NAFDAC said that preliminary review of the product by Nestle Nigeria indicated that it had expired, in spite of the container displaying an expiry date of 10-2026, which suggested that the date coding had been tampered with (revalidated).

Nestle Cerelac Mixed Fruits and Wheat is a nutritious infant cereal, designed to be a delicious first food for infants.

NAFDAC said that its post-marketing surveillance’s directorate officers in Lagos conducted a surveillance visit to Maxland Shopping Centre, 193 Ago Palace, Okota, where the product was purchased by the complainant.

It added that the suspected counterfeit and unregistered Cerelac were found on sale at the premises and subsequently mopped up, while Nestle assisted in identifying the distinguishing features between registered and unregistered product.

According to the regulatory agency, Nestle revealed that the unregistered product used a hyphen (-) to separate the day from the year, while the registered product used a slash (/) to separate the day from the year.

“It is important to note that Nestle Nigeria is not aware of the channels through which the products are supplied into the country.

“Healthcare professionals and consumers are advised to report any suspicion of the sale of substandard and falsified regulated products to the nearest NAFDAC office, call 0800-162-3322, or send an email to [email protected],” NAFDAC said.

The agency warned that counterfeit formula often lacked essential nutrients, vitamins and minerals, leading to stunted growth or developmental issues.

It said that such formula might also contain contaminants that might lead to severe health consequences to infants or even death.

NAFDAC reiterated its commitment to safeguarding public health adding that it would continue surveillance activities to ensure the quality, safety, and efficacy of all NAFDAC-regulated products circulating in Nigeria.

It said that all zonal directors of the agency and state coordinators had been directed to carry out surveillance and mop up the revalidated product, if found within the zones and states.

The agency urged distributors, retailers, healthcare professionals, and caregivers to exercise caution and vigilance within the supply chain, to avoid the distribution, sale, and use of fake products.


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NITDA Strengthens Collaboration with NIPSS to Drive Digital Innovation, Orange Economy Growth

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The National Information Technology Development Agency (NITDA) has reinforced its commitment to advancing Nigeria’s digital transformation agenda through strengthened collaboration with key strategic institutions, as it hosted the Director General of the National Institute for Policy and Strategic Studies (NIPSS), Professor Ayo Omotayo, alongside participants of the Senior Executive Course (SEC) 48, 2026.

The visit, which builds on an earlier strategic study tour, provided a platform for in-depth engagement on the role of digital innovation in driving sustainable economic growth, with particular focus on the Orange Economy.

Representing the Director General of NITDA, Kashifu Inuwa CCIE, the Director of Stakeholder Management and Partnerships, Dr Aristotle Onumo, highlighted the Agency’s commitment to fostering a vibrant digital ecosystem through inclusive policies, strategic partnerships, and capacity development initiatives.

“NITDA is committed to creating an enabling environment where innovation can thrive by bringing together government, private sector, academia, and creatives to drive Nigeria’s digital economy,” he stated.

Inuwa underscored the growing importance of the Orange Economy, describing it as a critical driver of innovation and economic value through intellectual property. He identified sectors such as digital content creation, film, animation, and digital art as key contributors to national development.

“The Orange Economy represents a powerful opportunity to transform our rich cultural heritage and creativity into sustainable economic growth,” he noted.

He further highlighted Nigeria’s unique advantage, particularly its youthful and creative population, while calling for stronger collaboration among stakeholders to fully harness the sector’s potential.

“With our youthful population and rich cultural assets, Nigeria is well-positioned to become a global leader in the Orange Economy if we deepen collaboration and investment across the ecosystem,” he added.

During the engagement, NITDA also presented its strategic initiatives aimed at supporting the digital and creative sectors, including digital infrastructure development, promotion of digital literacy, and implementation of policies that enable startups and innovators to scale.

Addressing challenges facing the sector, Inuwa pointed to issues such as limited access to funding, infrastructure gaps, weak intellectual property protection, and ecosystem fragmentation, while emphasising the need for coordinated action.

“Addressing challenges such as funding gaps, infrastructure deficits, and intellectual property protection is critical to unlocking the full potential of Nigeria’s creative economy,” he said.

The Agency reiterated its target of achieving 70 per cent digital literacy by 2027, noting that ongoing programmes are equipping millions of Nigerians with essential digital skills, including those in underserved and informal sectors.

In his remark, Professor Omotayo described the visit as an important opportunity to deepen understanding of how digital technologies are reshaping economic sectors, particularly the creative industry. He noted that the insights gathered would contribute significantly to policy recommendations aimed at strengthening Nigeria’s economic framework.

Participants of the SEC 48 programme engaged actively during the session, raising questions on capacity development, access to tools, and frameworks for protecting digital content. NITDA highlighted its ongoing collaborations with industry stakeholders to provide training, innovation hubs, and access to digital tools for young Nigerians.

The engagement concluded with a renewed commitment from both NITDA and NIPSS to strengthen collaboration in research, policy development, and capacity building, aimed at positioning Nigeria as a globally competitive force in the digital and creative economy.

 


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NRS Takes Over Mineral Royalties Collection Under New Tax Laws

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Nigeria Revenue Service (NRS) has assumed responsibility for collecting mineral royalties from mining operators nationwide, following new tax laws effective January 1, 2026.

NRS Takes Over Mineral Royalties Collection Under New Tax Laws

NRS

The shift emerged from a Thursday meeting between Solid Minerals Development Minister Dele Alake and NRS Chairman Dr. Zacch Adedeji. Their joint statement, endorsed by both, confirms NRS now administers all federally collectible revenues, including royalties.

Enacted by President Bola Tinubu on June 26, 2025, the Nigeria Tax Laws 2025 empower this transition. The Ministry of Solid Minerals Development remains a key partner, supplying pricing data, geological insights, and sector coordination.

NRS Special Adviser Dare Adekanmbi’s statement outlines collaborative steps: a nationwide sensitization program for operators on filing and payments; development of a digital royalty system; and regular joint technical sessions to address issues.

Both agencies pledge orderly, transparent implementation to boost the mining sector. Operators must comply with obligations and join upcoming programs.

The move aims to streamline revenue collection while fostering mining growth.


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