News
AfDB Deepens Partnership with Enugu Govt on Investment
The African Development Bank (AfDB) has reiterated its commitment to partnering with the Enugu State Government in the areas of investment, infrastructure, and other projects that would attract development and transform the lives of the citizens in the state.
This was even as the President of Skipper Seil Group, a globally renowned engineering, power and infrastructure company, Jitender Sachdeva, lauded Enugu State governor, Dr. Peter Mbah, over the positive steps taken in the energy sector, assuring that the company would partner to assist the state in developing its infrastructure.
Speaking at the Government House, Enugu, on Thursday, during a meeting with the governor at the Government House, Enugu, the Director-General of AfDB’s Nigeria Country Department, Lamin Barrow, said Nigeria was strategic to the development bank’s programmes.
He said that phase one of some of the programmes, especially in the area of Special Agro-Processing Zone (SAPZ) which was worth about $18 million had been approved.
He explained that the African foremost development and financial bank was in the process of rolling out the second phase, which would integrate the needs of Enugu State Government.
Barrow further said the phase two of the programme would support the implementation of the SAPZ project, which the state had already undertaken, pointing to agro-allied crops such as cassava, maize, among other strategic staples where the state commands competitive advantage.
“What the SAPZ is doing is to help develop value chains for these crops, adding value to primary crops, help in reducing post-harvest losses, develop strong linkages with stakeholder farmers, training and creating financial support for the farmers’ activities, but most importantly, driven by anchor private-sector investors”, he stated.
The DG of the AfDB also said the bank would assist the state in de-risking investment flow in its efforts to strengthen and enhance production, and drive agricultural produce beyond food security to export for the state and Nigeria in general.
On his part, Skipper Group President, Jitender Sachdeva, said his company had already concluded plans with the governor to construct the green special agro-allied industry zone, which also falls within the AfDB’s programme.
He said the infrastructure, which the company was collaborating with AfDB to step up, would facilitate the ease of doing business in the state and ensure self-sustained green electricity for each factory operating in the state.
“We are here for you in terms of infrastructure, power, agro-processing zones, among other projects. With the kind of energy, positivity, simplicity I have seen in you, around you, I can assure you we are going to start immediately,” he concluded.
Reacting, Governor Mbah expressed excitement over the choosing of Enugu State by the AfDB and other development partners for the second phase of the Special Agro-Processing Zone, saying his administration had already committed huge capital in the sector and would be ready to explore the opportunities AfDB presented to the state.
He assured the AfDB that Enugu had fulfilled all the pre-conditions for the project to take off.
“I want to inform you that Enugu State is ready and we have prepared all the prerequisite documentations, and all the surveys you need to be able to get started with this project.
“We have done the environmental and social impact assessments. We have identified a sizeable land that will host a Special Agro-Processing Zone, putting aside over 1000 hectares very close to the city that would be used for the Special Agro-Processing Zone. We have also done the feasibility studies”.
While underscoring that the state has a fertile land, almost performing better than other states in the cultivation and production of soya beans, cassava, rice, maize, cashew nuts, pineapple, among other food crops, the governor reiterated the effort of his administration to continue to make the state attractive to investors and tourists.
He explained that the state was full of economic and investment opportunities, calling on investors to see Enugu as their first choice for investment in the country, and promised that the ongoing state of emergency declared on the health sector would guarantee a healthy workforce.
The governor equally expressed interest in working with the bodies in the power sector to drive the state’s industrial revolution, insisting that Enugu was being positioned to play leadership role in the power industry given the recent enactment of the Enugu State Electricity Law.
“We’re now ready to play the role of a regulator in the electricity value chain, whether it’s generation, transmission or distribution. So in terms of the ease of obtaining your operating license, your construction licenses, you do not need to go beyond the state when we are in the position to provide those licenses, generating license, transmitting license and distributing license.
“We now have the regulatory commission to provide those licenses. In terms of the demand, you also have a huge demand for electricity. We have quite a number of industries here and we’re also even on the verge of bringing more because we’re already talking to some prospective investors,” he concluded.
Ola Olukoyede, chairman of the Economic and Financial Crimes Commission (EFCC), has disclosed that the commission recovered more than N7.2 million stolen from the bank account of a serving judge by suspected internet fraudsters in a midnight cyberattack.
Ola Olukoyede, Chairman of the Economic and Financial Crimes Commission (EFCC).
Olukoyede made the disclosure at the public presentation of two books authored by retired High Court judge, Justice Alaba Omolaye-Ajileye.
He said the serving judge, who is from a South-South state, contacted him around 1:00 a.m. after receiving multiple debit alerts indicating that funds had been withdrawn from her account.
According to him, the stolen money represented savings the judge had accumulated over six years to finance her child’s education.
Olukoyede said the EFCC immediately swung into action and successfully recovered the entire sum before 6:00 p.m. on the same day.
He said the incident underscored the increasing sophistication of cybercriminals and the urgent need for stronger collaboration among law enforcement agencies, the judiciary and members of the public in tackling financial crimes.
The EFCC chairman also called for amendments to Nigeria’s legal framework to accommodate the use of artificial intelligence (AI) in criminal investigations and prosecutions.
According to him, existing evidence laws should be reviewed to recognise AI-generated evidence as technology continues to reshape crime detection and investigation.
Also speaking at the event, former Attorney-General of the Federation and Minister of Justice, Chief Kanu Agabi (SAN), urged anti-corruption agencies to intensify efforts to trace and recover public funds allegedly stolen and stashed in foreign countries.
Agabi stressed the need for sustained collaboration among relevant institutions to strengthen Nigeria’s anti-corruption efforts and improve accountability in public service.
In his remarks, a former President of the Nigerian Bar Association (NBA), Chief Wole Olanipekun (SAN), called for stricter enforcement of the country’s cybercrime laws to curb the growing menace of internet fraud.
Olanipekun said effective implementation of existing laws, alongside stronger institutional cooperation, would help address the increasing threat posed by cybercriminals to individuals and the nation’s financial system.
Federal Government has cleared nearly N39 billion in outstanding pension liabilities owed to retirees under the Defined Benefit Scheme (DBS), including former employees of the defunct Nigerian Telecommunications Limited (NITEL), Mobile Telecommunications Limited (MTEL), the Power Holding Company of Nigeria (PHCN) and other federal government agencies.
The Pension Transitional Arrangement Directorate (PTAD) disclosed this in a statement, saying the payments were in line with President Bola Tinubu’s Renewed Hope Agenda, which prioritises the settlement of inherited pension liabilities and improved welfare for retired public servants.
According to the directorate, the largest component of the payment, amounting to N25 billion, covered about 35 months of outstanding pension arrears owed to nearly 10,000 eligible retirees of the defunct NITEL and MTEL.
PTAD also said it disbursed about N9.5 billion as the first tranche of Back End Computation (BEC) arrears to eligible pensioners of the defunct Power Holding Company of Nigeria.
The Executive Secretary of PTAD, Mrs Tolulope Odunaiya, described the payments as a significant milestone in the Federal Government’s efforts to clear inherited pension obligations and strengthen confidence in the Defined Benefit Scheme.
Odunaiya said the settlement was made possible following presidential approval granted in 2025 and funding provided under the 2026 Appropriation Act.
She noted that the intervention had enabled the directorate to resolve long-standing pension liabilities affecting thousands of retirees.
“The successful settlement reflects the Federal Government’s commitment to sustaining pension reforms and ensuring that retirees receive their entitlements promptly in line with the objectives of the Renewed Hope Agenda,” she said.
Odunaiya thanked the affected pensioners for their patience while the liabilities remained outstanding and reaffirmed PTAD’s commitment to transparent, efficient and pensioner-focused service delivery.
She added that the directorate would continue to work towards improving pension administration and ensuring timely payment of retirees’ benefits.
A Federal High Court, Lagos has declared Mrs. Ebele Okpala, a female banker with Keystone Bank, wanted over alleged N35 million fraud.
Apart from declaring the banker who is said to be outside the country wanted, Justice deinde Dipeolu, trial judge in the matter, also directed the Department of State Security (DSS), Nigerian Immigration Service (NIS), and Nigeria Customs Service (NCS), to arrest her upon arriving the country.
Justice Dipeolu made the above order while granting a motion ex-parte marked FHC/L/530C/2024, filed and moved by M. Bello, on behalf of the Nigeria Police.
In the motion, Ebele Okpala and one Perpetual Onyeto, also a banker were listed as first and second defendants/respondents in the suit, while DSS, NIS and NCS were listed as cited parties/respondents.
In urging the court to make the above orders, Bello, informed the court that the application was pursuant to several sections of the Administration of Criminal Justice Act (ACJA) 2015, and under the court’s inherent jurisdiction. Adding that the application was supported by an affidavit deposed to by Inspector Tope Akerele of the Force Criminal Investigation Department (FCID), Special Fraud Unit (SFU), Ikoyi, Lagos.
In granting the application, Justice Dipeolu held, “After considering the application and the supporting affidavit, the request had merit and granted all the reliefs sought by the prosecution.
“That an order is hereby made that the 1st defendant/despondent be declared wanted and placed on the wanted list of the Nigeria Police Special Fraud Unit, 13, Milverton Road, Ikoyi, Lagos until she is arrested.
“That an order is hereby made compelling cited parties/respondents to assist in apprehending 1st defendant/Respondent once he enters into the country.
“That an order is hereby made permitting the Publication of the name of the 1st defendant/despondent in the National Daily Newspapers and Social Media handles by the Nigeria Police Special Fraud Unity Ikoyi, Lagos for the purpose of fulfilling the requirement of the Order 1 above.”
Recall that both the wanted banker and the second defendant/respondent were previously arraigned before the court by the operatives of the police Special Fraud Unit, PSFU.
Specifically, the two bankers were arraigned before the court sometimes in September 2024, on alleged conspiracy, theft, money laundering, fraudulent lift of lien placed on bank’s customer’s account and obtaining the sum of N35 million by false presence.
World Bank Okays New $1.25Bn Loan for Nigeria
Xenophobia: MTN Nigeria Belongs to Nigerians, Not Only South Africans — Toriola
SEC Grants Approval to Luno, Other Crypto Firms under Regulatory Sandbox
MTN Nigeria Celebrates Volunteers at Y’ello Care Impact Showcase
Listicle: 10 Essential Meta Safety Tools Every Parent and Teen Should Know
Mobile Internet Gender Gap Widest in Africa – GSMA
FG Targets Alleged N3tn Capital Flight, Opens Airtime Credit Market to Nigerian Fintechs
Nigeria Launches FreeTV Nationwide
UK, Nigeria Launch £15m Growth Programme to Accelerate Economic Transformation
NASENI Moves to Digitize CCB’s 5m Assets Declaration and Operations
E-Financial2 days agoIMF Raises Concerns over N8.83 Trillion Unreported Spending in Nigeria’s Budgets
News2 days agoCourt Declares Keystone Bank Staff Wanted over Alleged N35m Fraud
Telecom2 days agoOpenAI in Talks to Offer U.S. Government 5% Stake Amid AI Scrutiny
E-Business2 days agoKaspersky Warns of a Large-scale Campaign using Fake Free Software to Deploy a RAT via ScreenConnect
E-Business2 days agoNOTAP to Commercialise University Research, Expands Patent Drive
E-Business2 days agoFG Unveils Digital Postcode System for MDAs
News2 days agoUK Deepens Digital Partnership with Nigeria to Drive Inclusive Growth
E-Financial2 days agoNDIC Warns Against Transactions with 46 Closed Microfinance Banks