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CBN Gov, Others Risk Arrest over Alleged Financial Violations

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Mr. Godwin Emefiele, CBN governor
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House of Representatives may issue a bench warrant against Godwin Emiefele, governor of the Central Bank of Nigeria (CBN) and 53 other heads of government agencies for gross violation of the provisions of the Financial Regulatory council on rendition of audited account.

CBN Gov, Others Risk Arrest over Alleged Financial Violations

Godwin Emiefele, governor of CBN

This was contained in a report which also recommended past and present Chief Executive Officers of several government agencies and their Directors of Finance and Account should be handed to the Economic and Financial Crimes Commission (EFCC) for prosecution.

Non submission of audited account to the Office of the Auditor General of the Federation is considered an offence under the laws of the land.

Some others are to be sanctioned for delays in the submission of their audited accounts despite receiving money annually from the nation’s budget.

The 161- page report submitted to the House by its Committee on Public Accounts also listed all subsidiaries of the NNPC, including Kaduna Refining and Petrochemical Company, Pipeline and Products Marketing Company Limited, West Africa Gas Limited, Nigerian Gas Company, Warri Refining and Petrochemical Company, and National Petroleum Investment & Management Services (NAPIMS) as culpable.

Also included on the list are Federal Road Maintenance Agency (FERMA); Energy Commission of Nigeria (ECN); Revenue Mobilisation Allocation and Fiscal Commission (RMAFC); National Bureau of Statistics (NBS) and Niger Delta Power Holding Company (National Integrated Power Project).

The report also recommend that all accounting officers of the 54 government agencies that refused to appear before the House Committee to defend their positions should be issued warrant of arrest to compel their appearance within a week in line with Section 89 (d) of the 1999 Constitution of Nigeria (as amended).

The report was supposed to have been considered before the House embarked on its summer vacation but was stepped down along with others owing to controversy arising from the consideration of the Electoral Act amendment bill.

The report accused the management of Nigeria Maritime Administration and Safety Agency (NIMASA) of “recklessly and deliberately” refusing to render their audited accounts from 2005 – 2019) in violation of Section 85 (3) (b) of the 1999 Constitution and recommend that “all those in Office that were responsible should be disciplined and referral to the EFCC in line with Financial Regulation 3129 of 2009”.

Also to face the EFCC are all the Director-Generals and DFAs as well as the various External Auditors of the Nigeria Social Insurance Trust Fund (NSITF) from 2006 to 2019 for refusing to render the audited accounts for the last 13 years.

Also, Chief Executive Officer of Infrastructure Concession Regulatory Commission (ICRC); University of Calabar; Nigeria Communication Satellite (NigComSat); Federal University of Agriculture, Abeokuta (including the former Vice Chancellor); Federal Housing Authority, Federal Mortagage Bank of Nigeria among others are to face the EFCC for investigation and prosecution.

The report is the outcome of an investigation into the allegation of deliberate and reckless refusal by Non Treasury funded Ministries, Departments and Agencies (MDAs) to remit audited accounts covering 2014 – 2018 to the Auditor General for the Federation ordered by the House following a motion by the Deputy Chairman of Public Accounts Committee, Rep. Abdullahi Sa’ad Abdulkadir and 44 others.

The investigation was to identify the Chief Executive Officers of these agencies, whether in active service or retired, found to have violated the provisions of section 85(2)(3) and (4) of 1999 Nigeria Constitution and hold them liable for their actions.

It was to determine the procurement process of engagement of the External Auditors by these Non-Treasury Funded Agencies and whether they made up their professional ethics in turning in their reports for prompt remission to the Auditor General Office as at when due.

The report said over 300 MDAs were invited to appear before the committee, out of which about 54 refused to appear to defend their positions.

The report commended management of the National Examination Council (NECO), Raw Material Research and Development Council (RMRDC) and Nigeria Communication Commission (NCC) among others for rendering their audited account on schedule.

On the National Health Insurance Scheme, the report said “the NHIS has not rendered its audited accounts for past 13 years.”


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Microsoft Revamps Copilot in Workplace AI Push

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Microsoft has rolled out a new set of features for its Microsoft 365 Copilot platform, including tools for complex, multi-step work and deeper research tasks, as competition in workplace artificial intelligence (AI) intensifies.

The update introduces Copilot Cowork, a capability aimed at handling long-running tasks across Microsoft 365 applications.

The feature is being made available through the company’s Frontier programme, which typically gives early access to experimental tools.

Microsoft is also integrating technology linked to Claude – an AI model developed by Anthropic –into Copilot, signalling a broader shift toward using multiple AI systems within a single product rather than relying on a single model.

Jared Spataro, chief marketing officer for AI at Work at Microsoft, says the company is positioning Copilot as a system embedded directly into workplace software, rather than a standalone tool.

“Microsoft 365 Copilot is your AI for work,” he says, adding that it draws on multiple AI models and is integrated into existing workflows.

Alongside this, Microsoft has upgraded its Researcher feature, which is designed to analyse information from multiple sources and generate structured reports.

A new “Critique” function separates the drafting and review process between different AI models – one generates an initial response, while another evaluates and refines it.

The company says this approach improves output quality, with Researcher showing gains on its internal benchmark for accuracy, completeness and objectivity.

Another addition, called Model Council, allows users to compare outputs from different AI models side-by-side, highlighting differences in responses and reasoning.

The updates form part of what Microsoft calls “Wave 3” of Copilot, as it pushes to embed generative AI deeper into enterprise software. The move reflects a wider industry trend towards combining models from multiple providers, including OpenAI and Anthropic, to improve performance and reliability.

 


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Dangote Refinery Debunks Speculations on IPO

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Dangote Petroleum Refinery and Petrochemicals (DPRP) has debunked recent circulation of unauthorised information regarding a potential Initial Public Offering (IPO).

Dangote Refinery Debunks Speculations on IPO

In a statement, DPRP noted that several online platforms and unofficial sources have published unverified, and in some instances inaccurate, information relating to a potential offering.

“Such reports do not originate from DPRP and should be treated with caution. All official updates regarding any potential transaction will be communicated strictly through DPRP’s formal public disclosures and announcements issued by its appointed advisers, in line with applicable laws and regulatory requirements.

“Accordingly, the public, investors, and all market participants are strongly advised to disregard speculative commentary and rely solely on verified information formally issued by DPRP or its authorised representatives,” the statement said.

The firm assured stakeholders that, when appropriate, comprehensive, and accurate details regarding any proposed transaction will be made available through official channels, including regulatory filings, authorised press releases, and coordinated communications by the Enterprise and its appointed advisers.


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Descasio Launches “Give to Gain” Leadership Insights Report, Hosts Executive Brunch for Women in Leadership

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In celebration of International Women’s Day, Descasio hosted an intimate executive brunch bringing together distinguished women leaders from its customer community for a thoughtful conversation on leadership, partnership, and shared growth.

Centered around the 2026 International Women’s Day theme, “Give to Gain,” the gathering created space for accomplished women in enterprise leadership to reflect on mentorship, collaboration, and investing in people as key drivers of sustainable growth.

Held in Lagos, the event convened leaders from organizations including Honeywell Group Limited, Finchglow Travels, NGCOM, and Eroton Exploration & Production Company.

Guests were personally welcomed at the start of the gathering by Mr. Dele Nedd, CEO of Descasio; who greeted each of the women leaders and expressed his appreciation for their presence before leaving the session to allow the women lead the conversation among themselves.

The gesture reflected Descasio’s leadership culture; one where women are not only recognized, but actively supported and empowered. It also underscored the company’s belief that meaningful progress in leadership requires partnership and allyship across the organization.

Rather than a traditional panel discussion, the brunch was designed as a candid and reflective exchange among peers navigating leadership in complex industries. Throughout the conversation, participants shared perspectives shaped by experience, responsibility, and the realities of leading teams and organizations.

A recurring theme in the discussion was the role of execution and accountability in leadership. For many organizations, strategy alone is not enough; consistent delivery is what ultimately builds credibility and trust.

Reflecting on this, Josephine Adebola, Data Compliance & Process Automation Manager at Finchglow Travels, emphasized the importance of reliability in leadership and the discipline required to translate vision into results. “Get it done on time and in full.

The conversation also explored the role of curiosity and continuous learning in shaping effective leaders. In rapidly evolving industries, the ability to ask questions, remain open to new perspectives, and keep learning is often what enables leaders to grow alongside their organizations.

Sharing her perspective, Tomi Otudeko, Chief Operating Officer at Honeywell Group Limited, reflected on how curiosity has shaped her leadership journey.

“Asking questions and continuously learning have always stood me in good stead as a leader.”

She also spoke about the importance of leading with empathy and understanding the people behind the roles within organizations.

“Everyone has multiple dimensions to who they are. Leadership has taught me to see people in their totality. That awareness doesn’t make a leader weak; it makes them more effective.”

Another important theme that emerged from the conversation was authenticity in leadership. In an environment where leaders often face pressure to conform to traditional expectations, remaining true to one’s identity while continuing to evolve is essential.

For Helen James-Eziashi, General Manager at NGCOM, authenticity and curiosity remain key guiding principles. “Be yourself, keep learning, and stay curious.”

The discussion also highlighted the role of self-awareness in sustaining leadership journeys, particularly in complex and high-responsibility environments. Understanding one’s values, motivations, and support systems often becomes the anchor that allows leaders to navigate uncertainty with confidence.

Reflecting on this, Ifeanyi Onyejekwe, IT Manager at Eroton, emphasized the importance of knowing what grounds a leader.

“Know who you are and understand what supports and sustains your leadership journey.”

According to Descasio, the event reflects its broader commitment to building strong partnerships and fostering meaningful leadership conversations across its enterprise customer community.

“For us, this was about more than marking International Women’s Day,” said Umama David-Ogebe, The HR Manager at Descasio. “It was about creating a space where leaders could learn from one another and reflect on the kind of leadership that builds strong organizations. The most meaningful partnerships grow from conversations like these.”

To extend the impact of the discussion, Descasio has published “The Give to Gain Leadership Report: Insights from Women Leading Enterprise Organizations,” a curated publication capturing key reflections and leadership lessons shared during the session.

The report highlights themes including:

  • The role of curiosity and continuous learning in leadership
    • Building stronger teams through empathy and accountability
    • The importance of authenticity and self-awareness in navigating leadership journeys
    • How investing in people drives stronger partnerships and resilient organizations

The Give to Gain Leadership Report is now available for download Here.


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