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Arms Deal: Nigeria Set to Recover £6.9m looted during Boko Haram Incursions

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Nigeria will receive some of its stolen assets believed to be worth £6.9m ($8.9m), following the verdict of an American court, which ruled that the source of the funds is ambiguous and was likely stolen by officials in the Nigerian Government in 2014.

Arms Deal: Nigeria Set to Recover £6.9m looted during Boko Haram Incursions

It comes after Jersey’s Attorney General served a forfeiture notice to the Royal Court in Jersey in November.

The return of the assets will now be negotiated with the Federal Republic of Nigeria.

 

Funds originally intended for arms deals during Boko Haram incursions rerouted through shell companies to family members and party members during the 2015 Nigerian general elections.

According to a report by the BBC, funds valued at £6.9 million ($8.9 million) were looted from Nigeria’s coffers and deposited in a Jersey bank in 2014.

The crime is said to have been perpetrated by some members of the Nigerian government at the time.

Based on the statement from the office of the Attorney General, the money was thought to have gone to family members of the administration in question and was distributed among its party members during the 2015 Nigerian general elections.

Representing the Nigerian people’s interest, the Nigerian government has been working closely with Jersey officials to retrieve the stolen property, as disclosed by Mark Temple KC, His Majesty’s Attorney General.

“This case again demonstrates the effectiveness of the 2018 Forfeiture Law in recovering the proceeds of corruption and restoring that money to victims of crime,” the Attorney General stated,

“I now intend to negotiate an asset return agreement with the Federal Republic of Nigeria,” he added.

 

 


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NITDA Supports CAC AI Driven Transformation

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By Oluwole Alao

Kashifu Inuwa CCIE, the Director General of the National Information Technology Development Agency (NITDA), has pledged the Agency’s full support for the Corporate Affairs Commission’s (CAC) artificial intelligence–driven transformation as the Commission marked its 35th anniversary in Abuja.

Delivering a goodwill message at the celebration, which was held at the Ladi Kwali hall of the Abuja Continental Hotel, Inuwa commended CAC for its uncommon consistency and resilience, noting that while many organisations rise and fall after initial success, CAC has continued on a steady growth trajectory.

“We know organisations go up and come down, but some will keep thriving, thriving, and thriving, and today, this is what we are witnessing for CAC,” he said.

Reflecting on his early engagement with the Commission, the NITDA boss recalled that the Registrar General made organisational transformation a priority from the very start of his leadership, particularly in embracing digital innovation.

According to Inuwa, the current era demands more than basic digitisation, stressing that meaningful transformation can only be achieved through the integration of artificial intelligence into core operations.

“We are in the AI era, and the only way to transform today is to embrace and integrate AI into your operations. This is exactly what the Registrar General is doing,” he stated.

He assured CAC of NITDA’s commitment to working closely with the Commission to embed AI across its numerous processes, explaining that the technology would infuse intelligence into workflows, simplify company registration and business management, and strengthen cybersecurity.

“We will make sure you integrate AI into CAC processes. With AI, it will infuse intelligence in everything you do and make things easy for Nigerians to register companies and manage businesses,” Inuwa averred.

The NITDA DG added that deploying advanced AI tools would help CAC staff stay ahead of fraudsters and curb hacking and fraudulent alterations of company records, while also safeguarding the system through responsible deployment.

“At NITDA, we will make sure you deploy ethical and responsible AI in your operations, with the right guardrails in place,” he assured.

He further described CAC’s digital reforms as bold and impactful, noting that the Commission has reduced company registration timelines from several months to as little as 24 hours. He added that further integration of AI would enhance name search and reservation, automate filings, improve corporate governance, and significantly reduce fraud.

He also highlighted NITDA’s ongoing role in reviewing CAC’s digital and AI transformation roadmaps, providing guidelines, standards, training support, and safeguards to ensure sustainable, people-centred, and secure digital services.

The NITDA DG congratulated CAC management, staff, and members of the National Assembly for their support, expressing confidence that the partnership would further strengthen Nigeria’s digital business environment in the years ahead.

 


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U.S. Slams Nigerians: Overstays Jeopardize All Visas

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The United States has warned Nigerians that overstaying their visas could jeopardise travel opportunities for other citizens seeking to visit the US for education, business, or family purposes.

U.S. Slams Nigerians: Overstays Jeopardize All Visas

The warning came amid ongoing immigration crackdowns and tighter travel restrictions under the administration of President Donald Trump.

In a statement posted on X on Monday, Feb. 9, the U.S. Mission in Nigeria stressed that compliance with visa rules is essential to protecting access for Nigerians who travel responsibly.

“Visa overstays by Nigerian travellers can affect opportunities for their fellow citizens,” the Mission said. “Strengthening compliance helps protect access for students, business travellers and families who travel responsibly.”

The Mission also urged Nigerians to report cases of visa fraud to [email protected] or [email protected]


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CAC Pushes Single National Register to Curb Corruption Loopholes

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Nigeria’s Corporate Affairs Commission (CAC) has urged creation of a unified national beneficial ownership register to bolster anti-corruption efforts and corporate transparency.

CAC Pushes Single National Register to Curb Corruption Loopholes

CAC

CAC Registrar-General highlighted how fragmented sectoral registers breed duplication, inconsistencies, and regulatory gaps during the Commission’s 35th anniversary Anti-Corruption Day in Abuja.

ICPC Chairman Dr. Musa Aliyu, via representative Demola Bakare, praised CAC’s role in fostering accountable business environments that drive sustainable growth.

Global evidence links transparent institutions to stronger economies, with clear rules, accessible data, and open operations as key pillars.

CAC’s oversight on company registration, disclosure, and compliance directly builds investor trust and national integrity, closing avenues for illicit financial flows.


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