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Officials, Bizmen Stole N1.4trn under OBJ, Yar’Adua, Jonathan

Itse Sagay, chairman, Presidential Advisory Committee Against Corruption (PACAC), has said that 55 top government officials and private businessmen in Nigeria illicitly diverted N1.35 trillion (about $7.5m then) between 2006 and 2015.
The period was during the administrations of former Presidents Olusegun Obasanjo, late Umaru Musa Yar’Adua and Goodluck Jonathan.
Sagay who made this known at the “Conference on promoting international co-operation in combating illicit financial flows and enhancing asset recovery to foster sustainable development,” at the State House Conference Centre, Abuja, yesterday, said corruption was impeding the country’s bid to meet its sustainable development goals.
He said that the funds looted during the period under review to 2015 was much more when fuel subsidy scams, billion-dollar arms purchase scams, hundreds of millions of dollars taken from the Nigerian National Petroleum Corporation (NNPC), by a former minister to bribe election officials in 2015, were taken into consideration.
He said one third of stolen funds could have provided 600.18 kilometres of road, 36 ultramodern hospitals per state, education for children from primary to tertiary level at the rate of N5.34 billion per child and 20,062 units of two-bedroom houses.
He also lamented that Nigeria had the largest number of incomplete projects.
According to Sagay: “Most of the financial assets stolen in Nigeria are taken out of the country as part of the illicit financial flow. The immediate impact is that Nigeria is deprived of the capacity to realise its sustainable development goals of the UN.
“These include no poverty (eradication of poverty), zero hunger (eradication of hunger), good health, quality education, clean water and sanitation, affordable clean energy etc.
“It is hard for any country to achieve that when it has looted 90 per cent or its resources and this hemorrhage is leaving our shores- underdeveloped world- to the developed world, developing them more while we are regressing.
“I have always said it, and you know Nigerians don’t like the truth, but this is the truth, give our elite an opportunity to do a project, vote money for that project, the first thing they do is divide that money amongst themselves. Nigeria has largest number of incomplete projects in this world. Many people just take the money and walk away in collusion with the ministries and agencies that awarded the contracts.
“Let me draw the connect between unrestrained looting and illicit financial flows. Most of the financial assets stolen in Nigeria are taken out of the country as part of the illicit financial flow. The immediate impact is that Nigeria is deprived of the capacity to realise its sustainable development goals of the UN officially known as transforming our world. These include no poverty (eradication of poverty), zero hunger (eradication of hunger), good health, quality education, clean water and sanitation, affordable clean energy etc.”
While declaring open the conference, Acting President Yemi Osinbajo called for heavy sanctions against banks and other financial institutions housing looted funds and aiding looters.
He said until that was done, Nigeria and other developing countries would not go far in the fight against corruption.
Osinbajo said for there to be collaboration there must first be connivance, urging that in the agreement and conventions that would be signed at the end of the three-day event, member countries must find a way to ensure that financial institutions were not given a free run, but held them accountable.
He charged developing countries to display the same outrage for drugs and terrorist financing for illicit financial flows, which he described as the worst crime against humanity.
“It took years for some people to agree that when somebody loot money where people make decent living, that is more dangerous than trafficking in drugs.
“It’s a good thing that we are here with our partners who agree that not only are these stolen assets criminalised but that they are returned to their appropriate owners.
“There is no way that transfer of these assets can happen without a handshake between the countries that they are transferred and the international banking institutions in the countries in which they are transferred; there is no way it will happen without some form of connivance.
“We have to look at somehow delegitimising those kind of financial institutions and criminalising them, so that banks and financial institutions that actually engage in this are being called out and made to face the consequences of engaging in criminal practices. If that isn’t done we are not likely to go very far.”
Osinbajo also noted that the Thebo Mbaki report showed that most of the illicit funds flow that come out of Africa are from Nigeria saying, “and that shows us very clearly, especially the security agencies, that we simply have to do more. It is evident that so much money is leaving our shores.”
News
INTERPOL Report Shows AI Powers 55% of Cybercrimes in Africa Amid $484m Losses

INTERPOL’s African Cyberthreat Assessment Report 2026 revealed that Artificial intelligence accounts for 55 per cent of reported cybercrimes across Africa and making attacks faster, more sophisticated and increasingly difficult to detect.

The report warns that the continent’s rapid digital transformation, marked by more than 1.1 billion mobile subscribers in 2025, is being matched by an equally rapid evolution in cybercrime, while fragmented legislation and limited AI readiness among law enforcement agencies continue to weaken responses.
The 40-page assessment, based on survey data from 36 African member countries, said cybercrime has shifted from isolated criminal activity to an industrialised, borderless ecosystem powered by AI.
According to the report, East Africa has become a hotspot for mobile money fraud and ransomware attacks targeting critical infrastructure, while business email compromise (BEC) and romance scams are widespread across Central and West Africa.
Southern Africa, it noted, has become an attractive target for international cybercriminals due to its high level of internet connectivity.
The report also highlighted the growing financial impact of cybercrime across the continent, revealing that losses have more than doubled since 2024, rising from 192 million dollars to 484 million dollars.
It attributed the increase largely to AI-enabled scams, credential harvesting and automated social engineering attacks.
INTERPOL said online scams remained the most commonly reported form of cybercrime in 2025, with criminals exploiting mobile money platforms, social media and AI-generated content to deceive victims.
It added that 72 per cent of surveyed countries reported the existence of scam centres, with the highest concentration recorded in Southern and West Africa.
The report further identified digital sextortion and online harassment as persistent threats, driven increasingly by AI-generated deepfakes and synthetic media.
According to data from TrendAI, one of INTERPOL’s partners, about 600,000 sextortion incidents were detected during the reporting period.
Business email compromise schemes have also become more sophisticated, with AI being used to generate highly convincing email communications.
The report said Africa-based threat actors are increasingly targeting victims in Europe and North America using cyber infrastructure spread across multiple jurisdictions.
INTERPOL warned that the absence of real-time information sharing between banks, telecommunications companies and law enforcement agencies has created significant vulnerabilities in tackling financial cybercrime.
It said cybercriminals are no longer relying solely on stolen credentials but are now creating AI-generated synthetic identities by combining genuine personal information with fabricated details.
These synthetic identities, the report noted, have been used to bypass biometric verification systems, open bank accounts, obtain mobile loans and register SIM cards under false identities.
Neal Jetton, Director of INTERPOL’s Cybercrime Directorate, described cybercrime as one of the most significant criminal threats facing Africa.
“Cybercrime has emerged as one of the most significant criminal threats to the region. AI is automating every stage of a cyberattack from reconnaissance and phishing to extortion and evasion.
“However, we see that when countries work together, cybercriminal infrastructure can be identified, disrupted and dismantled,” he said.
Despite the growing threat, the report highlighted progress in strengthening cybersecurity across the continent.
It disclosed that 17 African countries enacted or amended cybercrime legislation in 2025, while Senegal launched an online reporting platform to improve responses to online offences affecting children.
The report also noted that regional capacity-building initiatives are helping to improve long-term cyber resilience.
INTERPOL said four major cybercrime operations conducted in 2025, Operation Serengeti 2.0, Operation Contender 3.0, Operation Sentinel and Operation Red Card 2.0, resulted in more than 1,500 arrests, the seizure of hundreds of electronic devices and the recovery of over 100 million dollars.
To address the growing threat, the report recommended the adoption of standardised digital forensic capabilities, stronger cross-border collaboration, greater investment in AI literacy for law enforcement personnel and formal public-private partnerships to improve cybercrime prevention, detection and response.
The African Cyberthreat Assessment 2026 forms part of INTERPOL’s African Joint Operation against Cybercrime initiative, funded by the United Kingdom’s Foreign, Commonwealth and Development Office, with data contributions from Fortinet, Mastercard, the Shadowserver Foundation, S2W and TrendAI.
News
Nigeria Expands Deep-tech Skills Pipeline

Nigerian students will soon design, assemble, test and fly drones as part of their university education, following a partnership between Miva Open University and Abuja-based defence technology company Terra Industries.

The collaboration comes as Nigeria intensifies efforts to develop indigenous capabilities in advanced manufacturing and defence technology, with both organisations seeking to strengthen Africa’s pipeline of deep-tech talent.
The partnership will see students gain hands-on experience in drone engineering and related technologies through dedicated labs and industry collaboration.
The partners will establish robotics, drone and virtual reality laboratories across Miva’s study centres, beginning with a pilot facility in Abuja.
Students will also gain access to industry-led workshops, research opportunities, internships and mentorship in artificial intelligence, robotics, cybersecurity and autonomous systems.
According to the partners, Terra’s engineering teams will work alongside Miva faculty to integrate hands-on hardware training into academic programmes, exposing students to real-world engineering challenges and building industry experience before graduation.
Nathan Nwachuku, co-founder and CEO of Terra Industries, said Africa’s technological future depends on developing engineers capable of building solutions for local challenges.
“The engineers who will build Africa’s future must learn by building. This partnership creates opportunities for students to work with the technologies shaping modern security, infrastructure and autonomous systems,” said Nwachuku.
Miva Open University said the initiative forms part of its commitment to experiential learning, adding that students will have the opportunity to “design, test and fly drones as part of their academic experience”.
The partnership builds on Terra’s expanding role in Nigeria’s defence technology sector. Earlier this year, the company signed a joint venture with the Defence Industries Corporation of Nigeria to localise the production of drones, robotics systems and cybersecurity infrastructure, supporting efforts to strengthen domestic manufacturing and reduce reliance on imports.
News
Atte, Nigerian Develops AI Algorithm for Hair Transplants

Atte Ayodeji, a Nigerian computer scientist,has developed an artificial intelligence algorithm capable of detecting, counting, grouping and generating healthy hair follicles during hair transplant procedures, an innovation that earned him the Best Innovative Technology award.

Atte Ayodeji
Ayodeji also graduated with a Distinction in his Master of Science (MSc) in Computer Science from Birmingham City University on Friday, adding another milestone to an impressive academic year.
Beyond his award-winning hair transplant innovation, the Nigerian researcher developed a system and framework on Explainable Artificial Intelligence (XAI) as a professional responsibility in the diagnosis of lung cancer.
His dissertation received a silver award at the PGXPO2026 Winter, further highlighting the impact of his research in applying artificial intelligence to healthcare.
Sunday Dare, special adviser on Media and Public Communication to President Tinubu, celebrated Ayodeji’s achievements in a post on X, recalling how he first met him in 2019 during his National Youth Service.
“In 2019 when I became a Minister of the Republic, I met a young man of medium height, genteel with penetrating eyes: Atte Ayodeji. His words rarely come out and he could easily be passed by unnoticed. But I noticed him especially when my SA Kemi Areola brought him to me asking my approval for him to do his Youth Service in my office. I approved. From then on he was unstoppable. His brilliance shown and he developed skills beyond his frame.”
Highlighting Ayodeji’s recent accomplishments, Dare congratulated him saying, “Congratulations Atte. I am proud of you!”
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