Federal Ministry of Solid Minerals Development has debunked allegations by the Northern Elders Forum that the Federal Government sited a gold refinery in Lagos, breaching the federal character principle.

Minister Dele Alake

In a statement from Abuja, Special Assistant to Minister Dele Alake, Segun Tomori, described the claim by the forum’s spokesperson, Prof. Abubakar Jiddere, as “false and misleading.” He clarified that the minister never announced any government-owned gold refinery in Lagos or elsewhere.

Mr Tomori stressed that Minister Alake explicitly described the refinery as a private initiative by Kian Smith, one of several such projects nationwide. “The Federal Government does not compel private companies to site operations in specific regions,” he added, crediting founder Nere Emiko’s leadership.

The project supports the government’s value-addition policy to curb raw mineral exports and boost local processing. Reforms over two years have spurred investments like a $600 million lithium plant in Nasarawa, a $400 million rare earth facility there, and a $200 million ASBA lithium plant in Abuja.

Tomori highlighted the policy’s role in attracting foreign capital and creating jobs, describing the Lagos refinery as proof of successful reforms. He urged the Northern Elders Forum to back efforts for a stronger Nigerian economy rather than spreading misinformation.

Economic and Financial Crimes Commission (EFCC) has partnered with the National Space Research and Development Agency (NASRDA) to deploy advanced space and geospatial technologies in investigations and asset management.

Ola Olukoyede, executive chairman of the EFCC,

The move is expected to deepen transparency, strengthen asset recovery and curb economic sabotage according to a statement by Dele Oyewale, head, Media and Publicity, EFCC.

He said that the partnership was formalised through the signing of a Memorandum of Understanding (MoU) on Thursday in Abuja

The agreement is aimed at strengthening inter-agency collaboration, particularly in the areas of investigations, asset tracking and fraud risk assessment, marking a new phase of cooperation between the anti-graft agency and Nigeria’s space research and regulatory authority.

Speaking at the signing ceremony, Ola Olukoyede, executive chairman of the EFCC, described the agreement as a practical demonstration of the power of collaboration among government agencies.

He noted that closer cooperation would make it easier for institutions to effectively deliver on their statutory mandates.

According to Olukoyede, the MoU clearly defines the responsibilities of both agencies and establishes a framework for sustained cooperation.

He disclosed that a special monitoring and implementation team would be constituted to ensure the effective operationalisation of the agreement and to periodically review its impact.

“We will put a team together that will monitor the operationalisation of this MoU and also review the effectiveness of the platform from time to time.

“When agencies work together in the spirit of collaboration, it not only enhances efficiency but also encourages other ministries, departments and agencies to explore similar partnerships in the overall interest of national development”, he said.

Explaining the specifics of the partnership, the EFCC chairman said NASRDA would provide advanced technological tools to boost the Commission’s investigative capacity and asset tracking, while the EFCC would deploy its expertise to support the agency in fraud risk assessment.

“We will support you in the area of fraud risk assessment, and you will support us in promoting our investigative capacity.

“Where our eyes cannot get to, with the aid of your technology, we will be able to get there”, Olukoyede said.

He noted that the collaboration would be particularly beneficial to investigations into illegal mining activities, which have been linked to economic sabotage and rising insecurity in parts of the country.

“With the technology you are going to support us with, we will be able to identify some of these areas,” he added.

Olukoyede further expressed optimism that the partnership would significantly enhance the EFCC’s asset management processes, stressing that asset recovery remains one of the core pillars of the Commission’s mandate.

He explained that recovered assets are scattered across the country and exist under different legal statuses, including interim and final forfeiture.

“In some of these places, we may not have enough personnel to physically secure the assets. But with your support, we will be able to deploy geospatial technology and asset tagging devices to monitor both movable and immovable assets in a transparent and accountable manner”, he said

In his remarks, Matthew Adepoju, director-general and chief executive officer of NASRDA, welcomed the partnership, describing the MoU as a major milestone in the pursuit of justice and regulatory compliance within Nigeria’s space ecosystem.

Adepoju stressed that space-related activities are strictly regulated in developed economies and should be treated with similar seriousness in Nigeria, particularly in view of the potential misuse of satellite assets.

“You cannot go anywhere in Europe, continental America or the Far East and be doing business in the space ecosystem without the country ensuring that you are doing the right thing.

“We know for a fact that some satellite assets are being used negatively in driving insecurity in the country”, he said.

He also raised concerns over the use of satellite-mapped data on Nigeria’s natural resources to aid illegal activities, especially illegal mining, which he identified as one of the drivers of insecurity.

DalaHill Law Practice and the Bank of Agriculture (BoA) have signed a Mutual Accountability Framework (MAF), marking a milestone in the launch of a climate finance initiative funded by the African Climate Foundation (ACF) and valued at US$100,000.

According to a statement by the firm, the signing took place during a kickoff ceremony at the BoA headquarters in Abuja and formalised the roles, responsibilities and shared commitments of both institutions in delivering the project. The framework was signed by Ayo Sotinrin, BoA Managing Director, and Mohammed Hamza, Managing Associate at DalaHill.

The ACF-funded initiative is designed to support BoA’s institutional transition towards climate-aligned agricultural finance. Central to the programme is the establishment of a Clean Energy Delivery and Innovation Unit (CEDIU), a dedicated function that will integrate climate risk considerations, environmental data and sustainability principles into the bank’s strategy, operations and investment decision-making.

Under the initiative, BoA will also be supported to develop Clean Energy Access Systems and Climate Finance Development Frameworks, alongside a pipeline of bankable, climate-aligned agricultural projects.

These projects are expected to attract domestic and international capital into the sector, contributing to efforts to bridge Nigeria’s estimated $247.3 billion financing gap for its green energy transition.

Speaking on behalf of DalaHill, Mohammed Hamza described the initiative as a pivotal intervention in Nigeria’s agricultural and climate finance landscape. He said the firm is acting as a trusted adviser, working with institutions to deliver catalytic and transformative solutions.

According to him, DalaHill is deploying a multidisciplinary technical team to support BoA’s transition into a climate-aligned institution capable of attracting finance for scalable, investment-ready agricultural projects.

He highlighted the strategic importance of the project, noting that while ACF has traditionally focused on renewable energy, climate alignment within the agricultural sector is critical to driving Nigeria’s broader energy transition. He added that the initiative represents ACF’s first climate finance grant promoting agriculture in Nigeria.

In his remarks, Sotinrin expressed appreciation to the project partners and acknowledged longstanding gaps within Nigeria’s agricultural finance ecosystem. He reaffirmed BoA’s commitment to driving systemic change by attracting climate-aligned expertise, strategic funding and increased national and international attention to the sector.

Sotinrin also noted that the initiative aligns with the Federal Government’s climate and sustainability agenda, referencing Nigeria’s participation at an ongoing global climate sustainability conference in Abu Dhabi.

He further highlighted strong government backing for BoA’s transformation, including presidential approval in October 2024 of a US$1 billion recapitalisation plan aimed at strengthening the bank’s capacity to support national development.

DalaHill Law Practice is a full-service commercial law firm headquartered in Abuja, with a strong track record in advising on economically catalytic projects across sectors including energy, infrastructure, finance, trade and emerging markets.

The firm is known for structuring complex transactions, managing regulatory risk and supporting projects that promote sustainable growth and long-term economic impact in Nigeria and beyond.