General News
N8Bn Fraud: How Bankers Splashed Money on Property, Exotic Cars

A Federal High Court sitting in Ibadan was yesterday told how three staff of the Central Bank of Nigeria (CBN), and five staff of a commercial bank acquired assets worth several billions of naira through fraudulent means.
This was disclosed in the course of the N8 billion fraud allegation against some staff of the CBN – now dismissed – and some deposit money banks’ staff.
The assets said to have been acquired by the accused bank workers both within Nigeria and in Pretoria, South Africa, were allegedly got by inducing the CBN and stealing N1.25bn supposed mutilated currencies meant to be destroyed and taken out of circulation.
According to the prosecution counsel, Mr. Rotimi Jacobs, the accused persons had instead of carrying out the statutory instruction to destroy the defaced currency notes as their duty demands, substituted them with newspapers neatly cut to naira sizes and proceeded to put the mutilated and defaced currency back into the economy.
The eight accused persons brought to the court by the Economic and Financial Crimes Commission (EFCC), were Kolawole Babalola, Olaniran Muniru Adeola, Toogun Kayode Phillip, Ayodeji Aleshe, Isiaq Akao, Ajiwe Sunday Adegoke, Oyebamiji Akeem and Ayodeji Festus Adeyemi.
The accused are all facing a total of 28-count charge, ranging from conspiracy, abuse of office and stealing to false declaration of actual amount, concealing of property and fraudulently acquiring assets in excess of their legitimate and provable income.
The offence, as contained in a charge sheet read out to the accused persons, is punishable under section 7(2) of the Bank Employees etc (Declaration of Assets) Act, CAP. B1, Laws of the Federal Republic, Nigeria 2004.
All the accused pleaded not guilty to the charge.
A mild drama however occurred during the court sitting, when one of the accused persons, Ayodeji Aleshe, a cashier in one of the commercial banks, said he was an illiterate and that he could not understand the English language used in reading out the charge sheet to him.
The trial judge, Justice Adeyinka Faaj, who described the suspect’s claim as false, said he had earlier communicated with him in English and that he was very fluent in the use of English language.
The accused, for about 15 minutes, however remained adamant, trying to make the court believe that he is illiterate.
There was confusion until the judge ordered that an interpreter be sought to interpret the charge to him in Yoruba language in view of its importance.
Counsel to the accused persons urged the court to admit them on bail, but the judge however impressed on him the need to make a formal application in view of the weighty evidence against them.
Counsel to the fourth accused, Mr. Nathaniel Oke, SAN, had earlier reminded the court of his pending application for bail, but agreed with the submission of the judge on the bail application.
Counsel to the fifth and eighth accused persons, Mr. Michael Lana, in his own submission, drew the attention of the court to two applications served on the prosecution on Tuesday, challenging the jurisdiction of the court to entertain the matter.
Other defence counsels, Otunba Olayinka Bolanle, Olalekan Ojo, O. Uwawah and Oliver Okeke, also put up strong arguments to secure bail for their clients, but the trial judge objected, citing technical flaws in the procedure for the bail.
Justice Faaj, while vehemently objecting to oral application from the defence counsel, later adjourned the matter to June 8, 2015 to hear the bail applications.
He said: “I will suggest to all the counsels that you endeavor to file your written application for bail today (Wednesday), while the prosecution counsel should respond to them by Friday, June 5, 2015 and on Monday, June 8, 2015, when the hearing will be on the bail application.”
The judge also ordered the eight accused persons to be remanded in Agodi Prisons until the adjourned date, when bail application would be heard.
At the opening of the second case involving six commercial bank staff yesterday, counsel to the accused also laboured in vain to make the judge accept oral application for their bail.
The accused persons are, Oni Ademola Dolapo, Afolabi Esther Olunike, Ademola Ebenezer Adewale, Kolawole Muniru Adeola, Toogun Kayode Phillip and Omotoso Abimbola (now at large).
Mr. Jacobs, who is also the lead prosecution counsel, informed the court that his team had filed a charge dated May 19 and urged the court to accept it and permit it to be read to the accused.
The six accused persons were all facing a total of 15-count charge, ranging from conspiracy, abuse of office, stealing to false declaration of actual amount, concealing of property and fraudulently acquiring assets in excess of their legitimate and provable income.
They all pleaded not guilty to the charge.
After the plea was taken, the judge ordered that they be remanded in Agodi Prisons and adjourned the case to June 8, 2015 for hearing of bail application.
In the third case, five of the accused persons were involved, including a nursing mother of nine-month-old baby.
The accused persons were Kolawole Babalola, Olaniran Muniru Adeola, Toogun Kayode Phillip, Olukunle Sijuade, and Kehinde Fadokun, the nursing mother.
The charge sheet against the accused was read out to them and they pleaded not guilty to the 15-count charge, ranging from stealing, fraud, conspiracy and acquiring for themselves supposed mutilated currencies and recycling same. Counsel to the nursing mother, Mr. Musibau Adetunbi, drew the attention of the court to the circumstances surrounding the accused person and requested the trial judge to grant an application before the court for bail for her but the judge declined.
The counsel further pleaded with the court to allow the accused to be remanded at the state CID in view of her peculiar circumstances.
The judge then granted the oral application made by the defence counsel, and ordered that the accused be remanded at the state CID, Iyaganku, Ibadan to afford her access to her baby.
Justice Faaj then adjourned the matter to June 12, 2015 for the hearing of the bail application.
General News
T2 Backs Youth Excellence as NCBC Wins Bosun Tijani Foundation Basketball Tournament

T2 has reaffirmed its commitment to youth development and excellence through sport as the NCBC basketball team, adopted by the brand, emerged champions of the Bosun Tijani Foundation Youth Basketball Tournament held at the Alake Sports Complex, Ijeja, Abeokuta.

The tournament, organised by the Bosun Tijani Foundation in collaboration with the Ogun State Government and supported by several partners including T2, brought together 12 competitive teams from across Nigeria, positioning basketball as a powerful platform for youth engagement, discipline, and opportunity.
NCBC’s championship run reflected the values T2 seeks to champion, work ethic, intelligence, teamwork, and resilience. The team recorded commanding victories over Team Vision, Warlords, and Elevate before defeating the Ilupjeu Raiders 66–52 in a gripping final.
Commenting on the adoption of the team, Seni Ogunkola, Vice President, Brands and Communication, T2 stated “NCBC embodies the qualities we believe in, exceptional work rate, intelligence on the ball, discipline, and a hunger to excel. By supporting them, T2 is investing in potential, purpose, and the next generation of leaders on and off the court.”
The climax of the event saw His Royal Highness, Oba Adedotun Gbadebo, the Alake of Egbaland, alongside Nigeria’s Minister of Communications and Digital Economy, Bosun Tijani, present the trophy to the victorious team, drawing rapturous applause from spectators. The event was also attended by the Chief of Staff to Ogun State Governor Dapo Abiodun, Mr. Lere Olayinka, and the Ogun State Commissioner for Sports, Honourable Wasiu Isiaka, underscoring strong institutional support for youth-focused initiatives.
Through its participation in the tournament, T2 continues to position itself as a brand that goes beyond sponsorship, championing platforms that unlock talent, inspire ambition, and create lasting social impact for Nigerian youth.
General News
Ecobank Guarantees Seamless Digital Banking Services Throughout the Christmas and Year-End Period

Ecobank Nigeria, a member of Africa’s leading pan-African banking group, has assured customers of uninterrupted access to banking services throughout the year-end holiday period via its secure and robust digital platforms. The Bank also urged customers to remain vigilant against fraud and scams during the festive season.

Ecobank Bank
Speaking on the development, Victor Yalokwu, Head, Products & Analytics, Consumer & Commercial Banking, Ecobank Nigeria, said the Bank’s digital channels – including the Ecobank Mobile App, Ecobank Business App, USSD *326#, Ecobank Online, OmniPlus, Omnilite, EcobankPay, RapidTransfer, Ecobank Cards, ATMs, PoS terminals, and over 35,000 Ecobank Xpress Point (Agent Banking) locations nationwide – will remain fully available to support customers throughout the yuletide and year-end holiday period.
He noted that customers will continue to enjoy a wide range of services during the period, including local and international funds transfers, bill payments and airtime top-ups, merchant payments, balance inquiries and account statements, as well as cardless cash withdrawals via ATMs.
According to Yalokwu, “Ecobank encourages customers to leverage these digital solutions for safe, fast, and efficient banking, especially during the festive season when convenience and reliability are essential.
“While physical branch operations may be subject to adjusted working hours in line with public holidays, customers can be assured that Ecobank’s digital platforms are designed to deliver uninterrupted service and enhanced security at all times.
“Ecobank remains committed to providing innovative financial solutions and exceptional customer service, and we wish all our customers a joyful festive season and a prosperous New Year.”
Yalokwu also cautioned customers to remain vigilant against fraudsters and scammers during the period. “Before you wrap up the year, tighten your security. December brings online sales, travel, and year-end distractions—this is exactly when scammers are most active. From fake festive deals to cloned merchant sites and suspicious messages, staying vigilant helps keep your money safe.”
He advised customers to shop only on trusted websites, never share their PINs, passwords, or one-time passwords (OTPs), avoid banking on public Wi-Fi networks, be cautious of urgent or emotionally charged messages, and regularly review their account activity.
General News
Woherem Proposes Pragmatic Roadmap to End Terrorism and Banditry in Nigeria

Dr. Evans Woherem, an award-winning African technology researcher, analyst, and writer, has proposed a comprehensive and implementable strategy to end terrorism, banditry, and criminal violence in Nigeria, warning that the country’s prolonged insecurity has reached a critical point that demands urgent, coordinated action.

Titled “A Comprehensive Strategy for Ending Terrorism, Banditry, and Criminal Violence in Nigeria: A Pragmatic, Multi-Layered, and Implementable Framework,” the paper presents a holistic roadmap designed to reverse more than a decade of escalating violence that has claimed thousands of lives, displaced communities, weakened local economies, and eroded public trust in governance.
According to him, insecurity has become deeply entrenched in everyday life across the country. “Terrorism, banditry, and criminal violence have become so commonplace that they now dominate daily conversations among Nigerians,” Dr. Woherem noted, adding that while the crisis is most acute in the North-East, North-West, and North-Central regions, “its effects are now being felt even in the southern parts of the country.”
Citing the 2025 Global Terrorism Index, which ranks Nigeria sixth globally in terms of terrorism impact, Dr. Woherem described the ranking as “a sobering statistical confirmation that terrorism still weighs heavily on the Nigerian state.”
The paper traces the roots of the crisis to the emergence of Boko Haram in 2009 and the subsequent rise of splinter groups such as ISWAP. It recalls high-profile incidents including the 2014 abduction of schoolgirls in Chibok, the Dapchi and Kankara kidnappings, and a series of mass abductions and attacks on schools and places of worship recorded in 2025.
Dr. Woherem observed that banditry, largely driven by ransom payments, “has spread across the entire nation, creating fear, weakening productivity, and pushing millions of households deeper into poverty.”
While acknowledging the role of military action, the author cautioned against relying on force alone. “Nigeria cannot defeat insurgency and violent crime through arms and ammunition alone,” he said. “Any sustainable solution must confront the internal conditions that allow insecurity to thrive.”
Among the key drivers identified in the paper by Dr. Woherem, are porous borders, arms proliferation, youth unemployment, economic stagnation, and persistent conflicts over land and resources, challenges Dr. Woherem stressed can be addressed through “a deliberate, intelligence-led, and whole-of-society approach.”
At the heart of the proposed framework, Woherem noted, is a call for intelligence-driven security operations, including the establishment of a National Counter-Insurgency and Intelligence Fusion Centre. “Security operations must be guided by accurate, actionable intelligence rather than fear-led mass actions that often harm civilians and undermine public trust,” he stated.
The paper also advocates comprehensive policing reforms, including the creation of constitutionally backed state police systems supported by a more specialized federal police structure. “Nigeria’s over-centralised policing model is structurally incapable of effectively addressing widespread criminality across such a vast and diverse country.”
Recognising the realities at the grassroots, Woherem calls for the formal regulation of community-based security groups, and noted that “ignoring vigilante groups is dangerous, and banning them outright is unrealistic,” but stressed that their roles must be clearly defined, regulated, and subject to strict oversight.
On border security, particularly in the Lake Chad Basin, the author warned that instability in neighbouring countries continues to fuel Nigeria’s insecurity. “No permanent solution is possible without deep regional cooperation,” he said, advocating an Integrated Border Management system supported by joint operations with neighbouring states.
The paper places strong emphasis on prevention through economic inclusion, youth employment, and skills development. “Jobs and income remain the most powerful tools for preventing recruitment into violent groups,” Dr. Woherem asserted, adding that immediate livelihood opportunities significantly weaken the appeal of extremist narratives.
He also called for structured deradicalisation and reintegration programmes, noting that “a humane, community-accepted process is essential for breaking cycles of violence and preventing relapse into extremism.”
Dr. Woherem further emphasised the need for governance reforms and accountability in the security sector. “Without transparency, oversight, and institutional integrity, even the best security strategies will fail,” he warned.
The white paper outlines a phased implementation plan from 2025 to 2030, beginning with intelligence fusion, pilot state police initiatives, community security registration, drone surveillance, and financial crackdowns on terror networks, before expanding into nationwide reforms and long-term consolidation.
Concluding, Dr. Woherem expressed cautious optimism about Nigeria’s future. “Nigeria can overcome this prolonged phase of insecurity,” he said, “but only through political will, coordinated institutions, and the active participation of society.”
He added that the proposed framework offers “a realistic pathway to restoring security, rebuilding public trust, and unlocking Nigeria’s vast human and economic potential.”
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