News
Diezani Loses N7.6B Loot, Protesters Demand Extradition from UK
The Federal High Court in Lagos yesterday ordered the final forfeiture of N7.6billion allegedly stolen and hidden by Mrs Diezani Alison-Madueke, former Minister of Petroleum Resources.
This came as Charles Oputa, popularly known as Charly Boy, on Monday led a protest to the headquarters of the Economic and Financial Crimes Commission (EFCC) in Abuja to demand the extradition of Diezani Alison-Madueke, former minister of petroleum resources, from the UK to Nigeria.
But in Lagos, Justice Abdulazeez Anka granted an application by the EFCC seeking the money’s final forfeiture to the Federal Government.
He held: “I’ve read the motion on notice seeking the final forfeiture of the sum of N7,646,700,000 reasonably suspected to be proceeds of unlawful activity.
“I have also gone through the affidavit in support of the application. In the circumstances, I am of the view that the application has merit and is hereby granted as prayed. Parties have a right of appeal.”
Moving the application, EFCC’s lawyer Rotimi Oyedepo said the money was part of “huge sums” allegedly diverted by Mrs Alison-Madueke from various subsidiaries of the Nigerian National Petroleum Corporation (NNPC).
According to him, it was “fraudulently converted from NNPC by Mrs Alison-Madueke”.
He said the commission published an advertorial after the court ordered the money’s temporary forfeiture, but no one came forward to claim its ownership.
In an affidavit to support the application, an investigating officer, Usman Zakari, said he was part of a team of operatives who investigated an intelligence report that huge sums were laundered.
He said it was looted through former Managing Director, Crude Oil Marketing Department, Gbenga Olu Komolafe; former Managing Director, Petroleum Products Management Company (PPMC) Prince Haruna Momoh; Group Managing Director, Nigerian Products Marketing Company (NPMC) Umar Farouk Ahmed, Stanley Lawson, Babajide Sonoiki and some bank chiefs on behalf of Mrs Alison-Madueke.
The deponent said Mrs Alison-Madueke called a bank chief to her office for a meeting where she informed him that some officials of her ministry would be bringing funds to his bank.
She allegedly directed that the “funds must neither be credited into any known account nor captured in any transactional platforms of the bank”.
The investigator added: “In carrying out this alleged scheme of fraud, the sum of $153,310,000 was moved from NNPC through B.O.N Otti and Stanley Lawson, both former Group Executive Directors, Finance and Account of the NNPC” to the bank.
He said using the same fraudulent scheme, another $45million was also conveyed to the bank.
He said the money was conveyed in cash from Abuja to the bank’s headquarters in Lagos; $113,310,000 was taken out of it and moved to another bank in a bid to conceal its illicit source.
The investigator said the remaining $40million was conveyed in cash to a bank chief, Dauda Lawal.
Zakari said $108,310,000 was taken from the $113,310,000 and was disguised and invested in an off balance sheet investment using an asset management company owned by the bank as a special purpose vehicle.
He said the remaining $5million was conveyed in cash to another bank’s managing director “for safe keeping”.
The sum in the asset management company was allegedly converted to N23,446,300,000, which EFCC said it recovered in drafts from the bank.
It also recovered the $5million held by the bank MD.
The operative said the $40million conveyed in cash to Lawal was subsequently converted to N9,080,000,000 and retained by him.
Zakari said the N23,446,300,000, $5million and N9,080,000,000 were forfeited to the Federal Government on February 16, following an order by Justice Muslim Hassan of the same court.
According to him, the $45million was converted to naira by the bank in a bid to conceal and disguise its illicit origin.
He said EFCC received N7,646,700,000 in draft from the bank.
He recalled that the court on August 9 granted an interim order of forfeiture of the money and directed EFCC to publish the order in national newspapers to enable any person interested in it to appear in court and show cause why it should not be forfeited permanently to the Federal Government.
“The applicant has complied with the order of this court by publishing the said order on the 16th of August. It is in the interest of justice to grant this application,” Zakari said.
Justice Anka “granted the application as prayed”.
The UK’s National Crime Agency (NCA) has frozen London properties valued at £10 million allegedly bought for the former minister.
The two properties located at Regents Park in London, along with one in Buckinghamshire, have now been frozen based on the request of Nigerian authorities.
According to online news medium, Premium Times, a London court gave the freeze order in September 2016 but details of the rulings have only recently become public.
But the agency was too late in preventing a further two properties worth £8 million from being sold.
In July, the U.S. Department of Justice (DoJ) had revealed four properties it alleged were bought for the former petroleum minister by individuals and firms seeking her influence in obtaining lucrative oil assets and crude oil lifting contracts.
Some of the oil assets were assigned to people believed to be her cronies through Strategic Alliance Agreements (SAAs).
The DoJ’s affidavit stated that businessmen, Jide Omokore and Kola Aluko were involved in the purchase of two of the properties allegedly bought for Alison-Madueke.
The UK order obtained by Africa Confidential, a newsletter specialising in politics and business in Africa, has revealed that three of the properties have been frozen under the Proceeds of Crime Act.
In Abuja, Charly Boy, led protesters, who converged on the premises of the EFCC, who wielded a banner which comically read, ‘Bring Back Diezani Alison-Madueke’.
Alison-Madueke, who served in the administration of Goodluck Jonathan, has been linked to several corruption cases. Some pieces of property she allegedly own have also been seized by the government.
But the former minister insists that she has no case to answer and that the pieces of property linked to her were not hers.
News
Microsoft Revamps Copilot in Workplace AI Push

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.
News
Dangote Refinery Debunks Speculations on IPO

Dangote Petroleum Refinery and Petrochemicals (DPRP) has debunked recent circulation of unauthorised information regarding a potential Initial Public Offering (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.
News
Descasio Launches “Give to Gain” Leadership Insights Report, Hosts Executive Brunch for Women in Leadership

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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