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Abdullahi, New Communications Ministry Perm Sec Resumes

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Mr. Adebayo Shittu, minister of Communications
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One of the newly appointed Permanent Secretaries by the Federal Government, Alhaji Abdulaziz Mashi Abdullahi, who was posted to the Ministry of Communications resumed duties at the Ministry today, August 23, 2017, at a colourful hand-over ceremony.

The former Permanent Secretary in the Ministry, Arc. Sonny Echono, who has been posted to the Ministry of Education was on hand to hand over to his successor.

The new Permanent Secretary, is a Katsina State born Accountant and Financial Manager. Over the past three decades, he has worked in a wide variety of professional capacities in both the private and public sector.

Until his appointment, he was the Director of Finance and Accounts in Nigeria Security and Defence Corps, Abuja. He’s a recipient of various certificates in management, accounting, and computer appreciation courses.

Abdullahi was born in Mashi, Mashi LGA of Katsina State on the 12th of August 1961, about a year after Nigeria gained her independence.

He attended LEA Mashi Primary School between 1968 and 1974 where he attained his First School Leaving Certificate.

He then moved to Katsina where he attended the then Government College Katsina from the year 1974 to 1979. In the spring of ’79, he got admitted into one of the premier universities of Northern Nigeria, Bayero University Kano where he majored in Accounting, graduating in 1983 with Second class Upper honours degree. In the summer of 2010, he decided to put his long and illustrious civil service career on hold to allow him go back to school. He earned his MBA in Financial Management through the University of Plymouth’s Business School, MBA program.

His first working experience was with the Bauchi Area Office of the Federal Mortgage Bank of Nigeria where he served his one-year youth service program. He had a brief stint as the Inspector of Taxes II at the Internal Revenue Division of the Ministry of Finance, of the old Kaduna state before moving to African Petroleum Plc, Lagos in 1985 where he worked for over a decade as an Internal Auditor and Plant Accountant. He decided to return to public service in 1994 where he served for 3 years as the Chief Finance Officer of the defunct National Board of Community Banks. In the month of July 1997, he was posted to the Office of the Chief of General Staff where he served for 2 years as the Assistant Chief Accountant.

In 1999 he was posted to the Office of the National Security Adviser where he served rising to the post of Acting Director of Finance owing to his prodigious work ethic and loyalty, working under three illustrious retired Generals.

He stayed in that post till 2011 when he was posted back to the Office of the Accountant-General of the Federation. From 2012 to 2015, he served as the Director, Finance and Accounts II in the Federal Ministry of Labour and Productivity.

In March of 2015, he served briefly as the Director of Internal Audit in the Office of the Secretary to the Government of the Federation before he was again moved to the State House, Presidential Villa to assume the post of Director Internal Audit.

In June this year, he was again posted to Nigeria Security and Civil Defence Corps as Director, Finance and Accounts, the position he left to become the new Permanent Secretary in the Ministry of Communications.

 

 

 


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EFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud

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Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC), Ikoyi, Lagos, on Tuesday, March 3, 2026, arraigned two bank officials, Bakare Oladimeji Surajudeen and James Olukayode Imokwede, over an alleged $306,667.81 and €50,250 fraud before Justice Ismaila Ijelu of the Lagos State High Court sitting in Ikeja.
EFCC Arraigns Two FSDH Bank Officials Over $307k, €50k Fraud

EFCC

The defendants, who are both top officials of FSDH Merchant Bank Limited, were arraigned on a 10-count charge bordering on alleged stealing and retention of stolen property to the tune of $306,667.81 and €50,250.
The petitioner, FSDH Merchant Bank Limited, alleged that an internal audit uncovered unauthorized debits totaling $306,667.81 and €50,250, equivalent to N527,406,916.66 (Five Hundred and Twenty-Seven Million, Four Hundred and Six Thousand, Nine Hundred and Sixteen Naira, Sixty Six kobo), from its Letters of Credit (LC) payable accounts.
Investigations revealed that the defendants processed fraudulent transfers through the SWIFT platform to third parties.
One of the counts reads:
“That you, BAKARE OLADIMEJI SURAJUDEEN and JAMES OLUKAYODE IMOKWEDE, sometime in 2021 in Lagos within the jurisdiction of this Honourable Court, dishonestly took the sum of N527,406,916.66 (Five Hundred and Twenty-Seven Million, Four Hundred and Six Thousand, Nine Hundred and Sixteen Naira, Sixty Six kobo), property of FSDH Merchant Bank Limited.”
Another count reads:
“That you BAKARE OLADIMEJI SURAJUDEEN AND JAMES Olukayode Imokwede sometime in 2021 in Lagos within the jurisdiction of this Honourable Court dishonestly took sum of $306,667. 81 (Three Hundred and Six Thousand, Six Hundred and Sixty Seven dollars, Eighty one cents) property of FSDH Merchant Bank Limited”.
The defendants pleaded “not guilty” to all the charges preferred against them.
Following their pleas, prosecution counsel, H. U. Kofarnaisa, asked the court for a trial date and also prayed that the defendants be remanded in a Correctional facility pending trial.
Counsel to the first and second defendants, Oluwaseun Akintunde and Olajide S. Onasanya, informed the court that bail applications had been filed on behalf of the defendants and also urged the court to grant them bail on liberal terms.
They also prayed that the defendants be remanded in the EFCC custody pending the perfection of their bail conditions.
The prosecution counsel, however, opposed the prayers of the defence seeking the remand of the defendants in the EFCC custody, saying that “the EFCC detention facilities are overstretched.”
After listening to both parties, Justice Ijelu granted the defendants bail in the sum of N2 million each, with two sureties in like sum.
The court ordered that one of the sureties must be a relative, who is gainfully employed.
The sureties must provide evidence of tax payment in the last three years and must show proof of livelihood, with their residences verified.
The defendants were ordered to deposit their international passports with the court, and must not travel outside the country without the leave of the court.
The judge subsequently remanded the defendants in a Correctional facility pending the perfection of their bail conditions.
Justice Ijelu adjourned the matter till March 25, 2026, for the commencement of trial.

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AfDB Supports Francophone Africa Start-ups with €6.5M

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The African Development Bank Group last week approved an investment of €6.5 million in the Saviu II fund in order to support technology start-ups through their seed phase and first institutional fundraising, mainly in French-speaking Central and West Africa.

The Bank will invest €4.5 million as equity and €2 million as a first-loss hedging tranche on behalf of the European Commission, under the Boost Africa Programme.

This participation of the Bank Group will enable the Saviu II fund to give priority to companies with a strong technological or digital component.

Saviu II, the second investment vehicle of Saviu Partners, plans to invest between €500,000 and €3 million in about 20 technology or technology-oriented business-to-business start-ups in the seed phase or carrying out first institutional fundraising.

The Saviu II venture capital fund aims to make at least 60% of its commitments in the French-speaking countries of West and Central Africa: Côte d ‘Ivoire, Cameroon, Benin, Senegal, Togo, Burkina Faso and Mali.

The fund can also co-invest in promising technology companies in East Africa that have a strong team and business model, and whose strategy includes entering the market in French-speaking West African countries and establishing a strong presence there.

In addition, the fund will devote a dedicated envelope to pre-seed investments, focusing on minority equity investments, usually in co-investment with studios, incubators or other ecosystem partners.


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Nigeria Inks $1.3bn MoU with AFC for Alumina Refinery, Mining Push

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Nigerian Government has signed a $1.3 billion Memorandum of Understanding (MoU) with Africa Finance Corporation (AFC) via the Solid Minerals Development Fund (SMDF) to fund an alumina refinery, national geoscience mapping, and a strategic investment vehicle for mining growth.

Nigeria Inks $1.3bn MoU with AFC for Alumina Refinery, Mining Push

Special Assistant to the Minister of Solid Minerals Development, Segun Tomori, said the refinery will process one million tonnes of bauxite yearly using a modern Bayer process, powered by an on-site gas-fired cogeneration plant.

Minister Dele Alake called it a transformative milestone boosting GDP, aligning with reforms that improve investment climate, regulations, and licensing to attract private capital. He directed agencies to fast-track permits.

The 20-year project at 95% utilization eyes 19 million tonnes total output, $1.2 billion annual GDP addition, $25 billion economic impact, and $8 billion forex earnings, per feasibility studies.

SMDF Executive Secretary Fatima Shinkafi termed it the agency’s biggest funding deal, supporting value-addition policy.

The partnership extends to geoscience mapping for mineral data, de-risking exploration, and a joint vehicle for mining assets.

Permanent Secretary Engr. Farouk Yabo praised the reforms. Shinkafi signed for government; AFC’s Franklin Edochie for the corporation, witnessed by AFC CEO Samaila Zubairu.

Tomori positioned it as Nigeria’s largest private mining investment and FDI magnet.


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