News
South Africa Offers GMB Seized Nigerian $15m
South Africa has indicated her willingness to return the more than $15 million seized from some Nigerians last year in a move designed to please the country’s new president.
This is contrary to claims earlier by South African Ambassador to Nigeria, Lulu Mnguni, that the money seized by the South African Government had been released to Nigeria.
It would be recalled that the South African Government had, on September 5, 2014, seized $9.3m cash belonging to Nigeria and a month later seized another $5.7m, claiming that both funds were to be used for illegal purchase of arms.
But The Mail & Guardian reported yesterday that, Muhammadu Buhari, president-elect made positive overtures to Jacob Zuma of South Africa before the elections and relations between the two countries are likely to improve.
“South Africa is considering returning the Nigerian money that it confiscated last year, or clearing the way to sell arms to the West African country” The Mail & Guardian reported.
The newspaper also has learned through diplomatic sources that South Africa has begun talks to work out a process to return the money in an effort to start off on a clean slate with the recently elected government of the Nigerian president-elect, Muhammadu Buhari.
South African law enforcement agencies seized $15 million in two batches: $5.7-million that had been wired to Standard Bank and $9.3-million in cash, which was confiscated.
It was brought into the country through Lanseria airport in Johannesburg in three suitcases by a delegation said to represent the Nigerian government. In both cases, the money was suspected to be for illegal use.
Now South Africa wants to use the money to extend an olive branch to Buhari’s government and mend relations between the two countries, which became strained during the tenure of outgoing president Goodluck Jonathan.
“The positive thing about [Buhari] is that one of the people who supported him is Atiku Abubakar. That makes him our man and he will automatically work well with [President Jacob] Zuma,” a government source said.
Close connection
Abubakar is close to Zuma. He was Nigeria’s deputy president during the presidency of Olusegun Obasanjo, at the time when Zuma was Thabo Mbeki’s deputy.
“Also, this man [Buhari] is a [retired] military general. It is true that the military needs some beefing up to fight Boko Haram and we should help,” the source added.
So how will Nigeria know that it stands to benefit from an otherwise controversial transaction that had exacerbated tensions between the two countries?
Explained the government source: “Diplomatically you send a signal. Obviously they will have to make a request once they receive a positive signal, but the request will just be an official step to finalising the transaction.”
Buhari is due to take over the leadership of the country after winning the recent elections. Formal talks have not yet begun but South Africa has apparently started sending “positive signals” through its diplomats in Nigeria and to the Nigerian embassy in Pretoria.
Diplomatically favourable
To ensure that the process of returning the money or regularising the sale of arms looks as clean as possible, the Hawks investigation will continue, the source said, but will be managed politically to reach a conclusion that is diplomatically favourable.
“One way is to make the investigators say: ‘Yes, a law has been broken, but it’s true that the government [of Nigeria] is the owner of that money and genuinely wanted to buy arms legally. They might have flouted the rules, but it’s a genuine transaction.’ [We will say] this money does not come from dirty hands or rebels or arms dealers,” the source said.
“We will find a way to regularise the transaction and either return the money or give them arms.”
Nigeria wanted to buy arms such as helicopters and ammunition to strengthen its fight against Islamic extremist group Boko Haram.
Last year, the M&G reported that the head of the national conventional arms control committee, Jeff Radebe, who is also the minister in the presidency, was blamed by his colleagues in government for taking a unilateral decision to try to regularise the sale of arms to Nigeria to facilitate the release of bodies of South Africans who were killed when the TB Joshua church building collapsed in Nigeria.
At the time, Radebe denied it and said the committee had met in October and decided to propose unlocking the Nigerian arms trade.
‘Bona fide error’
The M&G quoted from two letters that Radebe had written to JP “Torie” Pretorius of the Hawks and Dumisani Dladla, the head of the arms control committee’s secretariat, in which he said the failed attempt on September 5 to pay an arms dealer in South Africa “was, in fact, a legitimate requirement from the government of Nigeria”. “Although the required administrative processes were not adhered to at the time, the government of South Africa deems it a bona fide error,” he wrote.
This week a government source told the M&G: “What Jeff did may have been unilateral, but it is now an avenue that South Africa is willing to explore. Even when we were doing damage control after your story, the discussion centred around how we can get a positive outcome out of this.”
The committee apparently met after the article was published in November last year and decided to use the return of the money or the sale of arms to appease the new government of Nigeria after the elections.
“After the story, they had to regroup and say: ‘How do we deal with this situation?’ You cannot let it hang forever; you must find a way to conclude it in a way that will satisfy both sides,” the source said.
Zuma has apparently been briefed by ministers who serve on the committee and has warmed to the idea. Efforts to get comment from Zuma’s spokesperson Mac Maharaj and from Radebe were unsuccessful.
Improved relations
Relations between Nigeria and South Africa have not been at their best, particularly between the Zuma and Jonathan administrations.
“[By returning this money] you get friendship, loyalty and an opportunity where he [Buhari] is willing to work with us to lead the continent and speak with one voice.
“Instead of Nigeria second-guessing us all the time, we will compare notes and stop fighting for things like the United Nations Security Council seat that’s not even permanent,” the source said.
“Nigeria is a strategic country that South Africa cannot ignore. It’s a big market. It’s possible South African companies make more money in Nigeria than in South Africa.”
When Buhari took on Jonathan in last month’s elections, Pretoria was already positioning itself for refreshed relations with Abuja.
‘Contributions to democracy’
The M&G has seen a letter that Buhari wrote to Zuma a few days before the elections, in which he complained about Jonathan’s alleged delaying tactics over the poll and the use of violence in an attempt to sway the vote in his favour.
“I thank your government and your mission in Nigeria for your contributions to Nigeria’s democratic process. While Nigeria’s democracy must be established and secured by the commitment to fairness and the rule of law of Nigerians, the goodwill and positive influence of your government have helped us on this difficult yet vital journey,” Buhari wrote. “It is not your business who wins elections in Nigeria, but we seek your help in making sure the election is a free and fair one for us to win or lose according to the people’s will.”
He is expected to hold a one-on-one meeting with Zuma on the sidelines of the African Union summit that South Africa is hosting in June, and it’s anticipated that the issue of the seized money will be discussed.
Either Zuma or Deputy President Cyril Ramaphosa will attend Buhari’s inauguration in May.
Asked for comment, department of international relations and co-operation spokesperson Nelson Kgwete said the department had not been in talks with Nigeria over the confiscated money and knew nothing about a proposal to either return the money or sell arms to that country.
Lateef Fagbemi (SAN), the Attorney-General of the Federation and Minister of Justice, has said that Federal Government is intensifying its use of digital-economy initiatives to curb corruption among young Nigerians.
Speaking at the commemoration of the 2025 International Anti-Corruption Day held on Tuesday in Abuja, the AGF said the administration of President Bola Ahmed Tinubu has deliberately positioned technology, innovation training, and digital-skills development at the heart of its anti-corruption strategy for young people.
The event, organized by Technical Unit on Governance and Anti-Corruption Reforms (TUGAR) domiciled at the Nigeria Extractive Industries Transparency Initiative (NEITI) had the theme: “Uniting with Youth Against Corruption: Shaping Tomorrow’s Integrity”.
Fagbemi, who delivered the keynote address, said the government believes that empowered, skilled and economically engaged youths are less vulnerable to corrupt influences.
According to him, programmes such as the 3 Million Technical Talents Programme (3MTT) and the recently launched Nigerian Youth Academy (NiYA) are already equipping millions of young Nigerians with ICT and digital-innovation skills, reducing their dependence on patronage systems that fuel corrupt practices.
“A hopeful youth is harder to corrupt; an engaged youth is harder to mislead; and an empowered youth is a powerful force for national transformation,” Fagbemi said.
He explained that by investing in digital literacy, tech entrepreneurship and innovation-driven training, the Tinubu administration aims to create a generation of young Nigerians who are globally competitive and resistant to corruption.
Beyond digital skills, the AGF pointed at several government efforts to expand educational access through the Nigeria Education Loan Fund (NELFUND), and support youth entrepreneurship via the Nigeria Youth Investment Fund (NYIF) and the iDICE programme, providing funding, training and mentorship for young innovators in tech, entertainment, agriculture and design.
Fagbemi added that the inclusion of young people in governance, through appointments and expanded civic-engagement platforms, was another strategic tool to strengthen integrity and transparency in public life.
He urged stakeholders to deepen efforts to integrate anti-corruption values into school curricula, establish integrity clubs, mentor young leaders, and leverage ICT tools to promote transparency, whistleblowing and public accountability.
Earlier, the Head of TUGAR, Mrs Jane Onwumere said the gathering was especially meaningful because it reflected a shared truth: that tomorrow’s integrity rests significantly in the hands of the youth.
“The theme therefore, is not just a slogan but a call to action and a reminder that young people are not only beneficiaries of good governance, they are co-architects of it.
“Corruption has affected lives and the economy negatively in many ways. One of such is the “japa wave” which has seen young Nigerians leave the country in droves in search of greener pastures. This syndrome has drained the country of resources and human capital. It has in many situations split the family unit, a critical foundation for anti-corruption efforts”, Onwumere, added.
In his speech, the Executive Secretary, NEITI, Hon. Musa Sarkin Adar expressed the agency’s commitment to empowering young Nigerians not only as advocates for accountability but also as active partners in shaping the future of integrity in the extractive industries and beyond.
“At NEITI, we recognize that corruption undermines opportunities for growth, distorts resource governance, and deepens inequality. We also know that a united, informed, and courageous generation can dismantle these barriers.
“This is why NEITI will continue to expand civic education, strengthen our reporting mechanisms, support youth-led innovation, and create more platforms for constructive engagement with young professionals, students, and entrepreneurs”, he added.
Securities and Exchange Commission (SEC) has asked the Investments and Securities Tribunal to order the freezing of bank accounts belonging to Crypto Bridge Exchange (CBEX) and 25 other defendants accused of defrauding Nigerians of about ₦1.3 trillion through an unlawful digital asset investment scheme.
CBEX
The request was made during the first sitting of the 6th Tribunal in case IST/OA/02/2025 between the SEC and CBEX with 25 others, presided over by tribunal chairman, Hon. Aminu Jinaidu.
The SEC urged the tribunal to compel commercial banks and financial institutions nationwide to freeze all accounts linked to the defendants.
It also sought orders for the seizure of houses and assets allegedly acquired with funds sourced from unsuspecting investors.
According to the commission, CBEX operated illegally by posing as a digital assets platform and capital market operator without registration.
“CBEX is an unregistered platform promising its users 100 percent return on investments within 30 days, which is unlawful and contrary to Section 3(b) of the Investments and Securities Act 2025,” the SEC told the tribunal.
The regulator disclosed that international authorities had previously raised concerns about CBEX.
The Securities and Futures Commission of Hong Kong issued an advisory on April 23, 2024, warning that the platform was a suspicious virtual asset entity.
The tribunal noted that CBEX and the other defendants failed to appear in court and were not represented by legal counsel.
Hon. Jinaidu therefore ordered that hearing notices be served on the defendants through national newspapers.
CBEX reportedly entered the Nigerian market in July 2024, operating via a website and mobile application, while claiming to use advanced Artificial Intelligence to generate unusually high profits from cryptocurrency trading.
Investors were promised returns of up to 100 percent within a 40 to 45 day lock-in period.
The scheme later collapsed, triggering widespread losses. Investigations revealed that CBEX functioned as a Ponzi scheme that siphoned more than ₦1.3 trillion, estimated at about $800 million, before disappearing.
The matter has been adjourned to January 27, 2026.
The Lagos State Government, through the Ministry of Agriculture and Food Systems, has launched TELE-VET, Nigeria’s first Tele-Veterinary Call Centre, marking a groundbreaking milestone set to transform access to expert animal healthcare using mobile technology.
Speaking at the event held at the Lagos State Ministry of Agriculture and Food Systems, Animal Hospital, Oko-Oba, Agege, the state’s Commissioner for Agriculture and Food Systems, Ms. Abisola Olusanya, described TELE-VET as a transformative initiative that strengthens animal health systems, improves food safety, and accelerates agricultural innovation across the state and beyond.
She stated that technology continues to redefine global food systems, and Lagos, under the leadership of Governor Babajide Olusola Sanwo-Olu, remains committed to deploying digital solutions that enhance efficiency, empower farmers, and safeguard public health. The Commissioner explained that TELE-VET addresses long-standing challenges faced by farmers and pet owners, especially limited access to timely and professional veterinary care.
Ms. Olusanya highlighted that TELE-VET builds on the existing mobile platforms, M-Agric and M-Health, available on MTN and Glo networks, which provide daily expert tips, mentorship, and animal-care guidance. By dialing *20791#, users can subscribe for ₦100/day, ₦300/week, or ₦500/month, gaining instant access to a variety of services, while all active subscribers can access the Call Centre free of charge.
She added that the Call Centre will deliver emergency support, first-aid guidance, disease-prevention information, and livestock and pet care assistance, noting that the platform helps farmers reduce costs, save time, and access expert care without traveling long distances. She emphasized that TELE-VET will also enhance surveillance and early detection of zoonotic diseases, aligning with the One World, One Health framework that integrates human, animal, and environmental health.
The Commissioner further mentioned that TELE-VET sets the stage for future innovations, including livestock and pet health insurance, e-commerce for veterinary products, improved mobility for safe animal transport, and enhanced financing opportunities for farmers, positioning Lagos as a national leader in technology-driven agricultural transformation.
Earlier, the Permanent Secretary, Ministry of Agriculture and Food Systems, Mr. Emmanuel Audu, commended the initiative as a groundbreaking intervention that will significantly improve service delivery within the State’s veterinary ecosystem. He stressed that TELE-VET responds to the evolving needs of farmers and pet owners who require swift and professional support to enhance productivity and ensure animal well-being.
Mr. Audu noted that the Ministry has invested extensively in strengthening the infrastructure, technical systems, and human resources needed to operate a world-class veterinary call centre. He stated that the service is a strategic investment in Lagos State’s food security architecture, enabling efficient livestock health management and timely response to potential disease outbreaks.
The Permanent Secretary explained that the Call Centre will minimize animal losses, improve farm management practices, and provide timely advisory services to farmers, aligning with the Ministry’s mandate to promote sustainable agricultural practices across all 57 LGAs and LCDAs. He praised the collaboration among veterinary professionals, ICT partners, and technical teams that made the initiative possible.
Mr. Audu reaffirmed the Ministry’s commitment to continuously upgrading the TELE-VET platform to accommodate innovations that improve efficiency and expand service offerings. He encouraged residents to adopt the platform fully, noting that its success depends on widespread participation.
In his remarks, the Director of Veterinary Services, Dr. Rasheed Macaulay, stated that the launch of TELE-VET marks a new era in veterinary care delivery in Lagos State. He explained that the platform provides a practical solution to challenges such as limited manpower, delayed emergency response, and difficulties reaching farmers in remote areas by connecting residents directly to certified experts.
Dr. Macaulay added that TELE-VET will strengthen disease surveillance and reporting across the State, aiding early detection of animal diseases and preventing zoonotic infections. With real-time consultations, improved documentation, and faster escalation processes, the platform will support frontline veterinarians and promote safer, healthier food systems for all Lagos residents.
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