News
Allison-Madueke, Petroleum Minister Blows N13Bn on Chartered Plane
Deziani Allison-Madueke, minister of Petroleum Resources, is to appear before the House of Representatives Committee on Public Account to explain the source of alleged N3.120 billion used to pay for charter of aircraft within two years.
Samuel Adejare (APC Lagos), a member, levelled the allegation against the minister in a motion at plenary on Thursday.
The minister was also said to have spent another N10 billion for maintenance of an aircraft, a Challenger 850 Aircraft and its crew in the last two years.
Adejare, who represents Agege Federal Constituency, Lagos, made the allegations in his motion entitled, ‘Urgent Need to Investigate the Waste of Resources on the Arbitrary Charter and Maintenance of a Challenger 850 Aircraft for Non-official Use’.
In his lead debate on the motion, Adejare said it was wrong for the minister to have spent such money on frivolities at a time the resources of the country were dwindling and government complaining of lean purse.
“In these days of scarce national resources where public finance is shrinking in the face of ever increasing national needs such as roads, health, education and power, among others an official of government could waste public funds on such luxury as chartering a Challenger 850 Aircraft for extra official use.
“In recent times, most states of the federation have been facing acute shortage of allocations due to the dwindling national revenue which has reduced the quality of governance and deprived the people of dividends of democracy,” he complained.
Insisting that the allegation against the minister was not a cooked up one, the lawmaker said his submission on the issue “is based on reliable evidence”.
“The Hon. Minister of Petroleum Resources, Mrs Diezani Allison-Madueke, has been committing the sum of 500,000 Euros (N130 million) monthly to maintain the aircraft, thus in two years, the Minister had committed at least N3.120 billion in maintaining the private jet which is used solely for her personal needs and those of her immediate family, which is an appalling act” he added.
Adejare also explained that “there are strong indications that the above expenditure is only a tip of the iceberg as several other billions of naira have been allegedly wasted on flying the jet all over the world obviously for the leisure of the Hon. Minister and her immediate family on trips that were of no benefit to the country.
“This colossal waste is currently estimated at N10 billion, which include the payment of allowances to the crew for the trips, hanger parking and rent based on the lease agreement.
“If government could be bankrolling this waste in the face of ever dwindling public resources, it amounts to a misplacement of priority, impudence and breach of public trust, an action that offends the Fiscal Responsibility Act and all other laws on fiscal discipline in Nigeria.”
Adejare explained that an investigation into the matter revealed that the minister was financing the lease of the aircraft with public funds.
At this stage, a member of the parliament, Friday Itulah (PDP, Edo), rose to oppose the motion, but the Speaker, Aminu Tambuwal, who presided quickly intervened, asking Itulah to stay action until he calls for a debate to oppose the motion.
Itulah, however, explained that the House rule does not create room for motions of this nature to be debated, adding that “we will put it to a voice vote and refer it to the relevant committee for further legislative action”.
When it was put to voice vote, it was unanimously supported by members, and the Speaker ruled that the House Committee on Public Account take charge of the probe and report back to the House within two weeks.
Also on Thursday, the House directed a probe into alleged non-remittance of funds accruing from the Nigerian Liquefied Natural Gas (NLNG) to the Federation Account from 2004 till date.
The decision to institute probe was a fallout of a motion raised under Matters of Urgent National Importance by Aminu Suleimaan (Kano, APC) at plenary.
In his lead debate, Suleiman drew attention of the House to Section 162(1) of the 1999 Constitution as amended which makes it mandatory for all revenue collected by the government of the federation to be remitted into the Federation Account.
Suleiman said according to the provisions of Section 162 sub section 10 of the Constitution, revenue means any income or return accruing to or derived by the government of the federation from any source and includes any receipt.
The lawmaker said the NLNG Bonny, in flagrant disobedience and breach of the Constitution has not remitted funds accruing to it to the Federation Account from 2004 till date.
He said the non-remittance of funds accruing to NLNG Bonny from 2004 till date has adversely affected the Federation Account to the detriment of federal, states and local governments.
“The unpatriotic actions of those in charge of the NLNG Bonny from 2004 till date has resulted in loss of huge revenue that ought to be shared to all tiers of the government from the Federation Account for both recurrent and capital development.
“The non-remittance of funds that accrued to NLNG Bonny to the Federation Account from 2004 till date has badly affected all critical sectors of the Nigerian economy and constitute an economic crime,” he said.
Adopting the motion, the House directed its Committee on Gas to “investigate the non-remittance of funds accruing from NLNG Bonny to the Federation Account from 2004 till date and make appropriate recommendations and report back to the House within three weeks”.
Mobility technology company, Moove has raised $250 million in a Series C funding round at a valuation of $2.1 billion, reaching unicorn status.
The startup will deploy the fresh capital to build out autonomous vehicle infrastructure, expand fleet ownership, construct robotics-focused “Nests” for charging and maintenance, and grow its autonomous workforce from 150 to 500 by year-end.
The company plans to enter additional global markets, reflecting a strategy to build the operational infrastructure required for large-scale autonomous transportation rather than simply supplying vehicles.
Led by Mubadala Investment Company and co-led by Woven Capital, Toyota’s Growth Fund, and Ion Pacific, the round also included new investors BlueCrest Capital Management, Sona Asset Management and The Raptor Group, alongside existing backers BlackRock, MUFG, Franklin Templeton and Uber.
“Autonomous mobility is becoming an infrastructure race requiring fleets, charging systems, maintenance, data infrastructure and continuous city-level operations,” said Ladi Delano, co-founder, co-CEO and advisory board chairman of Moove.
Founded in Lagos in 2020, Moove has grown into a global mobility platform employing about 3,300 people across 29 cities in 13 countries, operating approximately 42,000 vehicles and reaching $420 million in annualised recurring revenue.
It has expanded organically and through acquisitions, including Kovi in Brazil and Tokyo Taxi in Japan. Moove also operates autonomous vehicle fleets in partnership with Waymo in Phoenix and Miami, with London expected to join its footprint.
The $2.1 billion valuation places Moove among Africa’s small group of tech unicorns, alongside Flutterwave, OPay, Moniepoint, Andela, Chipper Cash, Wave, Tyme, MNT-Halan and Interswitch.
The $250 million round is the largest single funding deal announced by an African startup this year, though EV mobility firm Spiro raised $270 million cumulatively across two separate rounds.
Heirs Life Assurance, the specialist life insurance company of Heirs Insurance Group, has appointed Pastor Jerry Eze as an Independent Non-Executive Director on its Board, effective August 10, 2026.
L – R: Tony Elumelu, Chairman, Heirs Life Assurance; Pastor Jerry Eze, incoming director, Heirs Life Assurance
The appointment reinforces Heirs Life Assurance’s commitment to expanding financial inclusion and accelerating insurance adoption by strengthening public trust, consumer education, and long-term financial resilience across Nigeria.
Despite being Africa’s largest economy, Nigeria’s insurance penetration remains below one percent – among the lowest globally – highlighting the need to expand financial protection and build greater public trust in insurance.
As Heirs Life continues to pursue its mission of making insurance accessible to every Nigerian, Eze’s appointment brings a unique perspective on community engagement, value-based leadership, and broad societal impact.
Pastor Jerry Eze is the Founder and Lead Pastor of Streams of Joy International Ministry, a growing multinational ministry with 34 branches across West Africa, Southern Africa, Europe and North America.
He is also the convener of the New Season Prophetic Prayers and Declaration (NSPPD), one of the world’s largest digital prayer platforms, reaching millions of people daily. Through his ministry and humanitarian initiatives, he has become one of Africa’s most influential voices, championing hope, compassion, and community transformation.
Beyond ministry, Eze is the Founder of the Jerry Eze Foundation, a faith-led philanthropy where he provides housing support and grants to vulnerable and underserved communities.
In 2026, he announced N1billion in grants to support young entrepreneurs across agriculture, technology, and manufacturing, further advancing enterprise development and economic opportunity.
Before entering full-time ministry, Pastor Jerry Eze built a career in development communications, serving as a Communications Specialist on a World Bank HIV/AIDS programme and with the United Nations Population Fund (UNFPA).
He holds a Bachelor’s degree in History and International Relations from Abia State University and a postgraduate degree in Business Administration from Enugu State University of Science and Technology.
Speaking about the appointment, Tony O. Elumelu, CFR, Chairman, Heirs Life Assurance, said: “Pastor Jerry brings an exceptional combination of integrity, influence, and a deep understanding of people and communities.
“As we continue our mission to democratise access to insurance, his insight will help strengthen consumer trust, deepen financial inclusion, and reinforce our commitment to protecting the financial future of millions of Nigerians.
“We are delighted to welcome him to the Board of Heirs Life Assurance and the broader family of Heirs Insurance Group.”
Commenting on his appointment, Pastor Jerry Eze said: “I am honoured to join the Board of Heirs Life Assurance at a defining moment for the insurance industry. Financial security empowers individuals, families, and businesses to pursue their aspirations with greater confidence and resilience.
“I look forward to working with the Board and Management to advance the company’s mission of making insurance more accessible, relevant, and impactful for every Nigerian.”
Heirs Life Assurance has become one of Nigeria’s leading specialist life insurance companies, ranking 7th on the Financial Times list of Africa’s fastest-growing companies.
It is one of the three insurance businesses of Heirs Holdings, the leading pan-African investment company, with investments across 24 countries and four continents.
Combining an omni-channel digital presence with physical branches spread across the country, Heirs Life continues to redefine life insurance through innovation, customer-centric solutions, and a commitment to making financial protection accessible to every Nigerian.
Heirs Insurance Group, comprising Heirs Life Assurance, Heirs General Insurance, and Heirs Insurance Brokers, collectively serves over 3 million people directly and indirectly.
The Group is championing financial inclusion and leading the digital insurance play in Nigeria, demonstrating its mission to democratise access to insurance.
The World Bank Group has announced the 31-month debarments of United Aviation Services Limited (UNASEL), a transportation services company based in Nigeria, and Air Vice Marshal Alkali Mamu, its owner and president, “in connection with fraudulent practices under the Enhancing Niger Northeastern Connectivity Project,” according to a press release issued by the multilateral development bank.
The statement said that the project aims to enhance connectivity and road safety along the Zinder-Agadez Road section and improve access to basic socioeconomic infrastructure for selected communities in that road section.
However, according to the statement: “UNASEL and Mr. Mamu presented false experience documents in a prequalification application to qualify for a contract under the project. This was a fraudulent practice under the World Bank’s sanctions framework.”
“The debarments make UNASEL and Mr. Mamu ineligible to participate in projects and operations financed by Bank Group institutions. The debarments are part of two settlement agreements under which UNASEL and Mr. Mamu admit culpability for the underlying sanctionable practices,” it added.
The statement further said: “Per the Bank Group Sanctioning Guidelines, the settlement agreements provide for a reduced period of debarment in light of UNASEL and Mr. Mamu’s cooperation.
As a condition for release from sanction under the terms of the settlement agreements, UNASEL and Mr. Mamu commit to developing and implementing integrity compliance measures that reflect the relevant principles set out in the Bank Group Integrity Compliance Guidelines, and Mr. Mamu further agrees to complete corporate ethics training.
UNASEL and Mr. Mamu also commit to continue to fully cooperate with the Bank Group’s Integrity Vice Presidency.
“The debarments of UNA SEL and Mr. Mamu qualify for cross-debarment by other multilateral development banks under the Agreement for Mutual Enforcement of Debarment Decisions that was signed on April 9, 2010.”
Affordable, Flexible Streaming Platforms May Kill PAYtv – Report
FG Suspends NAICOM’s N680m Insurance Recapitalisation Fees
FG Taps Indian, Chinese Technologies to Tackle $2.5Bn in Food Losses
MTN Nigeria Clocks 25, Connects over 90m People
Subscribers to Seek Legal Redress if Poor Quality of Service Continue in September
EFCC Busts NIS Visa Overstay Racket, Uncovers N700m in an Account
Fact-Check: Elon Musk’s “Tesla Pi Phone” is Internet Rumor
NBC Tasks Broadcasting Stations over 2028 DSO Global Deadline
NBC Scraps Annual Digital Access Fee on DSO
Glo Sponsored African Voices to Feature Netflix’s “The Polygamist” Stars
E-Business2 days agoX Replaces Revenue Sharing wit New Creator Rewards Programme
Telecom2 days agoMTN Alerts Subscribers over Fake 25GB Anniversary MTN Data Giveaway
E-Financial2 days agoInterswitch, Temenos Commit to Advancing Nigeria’s Digital Banking Technology
General News2 days agoFake Agency: ICPC Indicts NITDA, Others over Inadequate Due Diligence
E-Financial2 days agoFG Spent N3.1 Trillion on Domestic Debt Servicing in Q1- DMO
General News2 days agoUNESCO Taps Oguamanam,Nigerian Scholar to Advisory Body on Science, Tech Ethics
General News2 days agoTax Reform Built on Taxing Prosperity, Not Poverty– Adedeji
Broadcasting2 days agoAwba-Ofemili Unveils 2026 Health Campaign, Offers Free Medical Screening