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US Considers Visa Ban, Financial Sanctions on Alison-Madueke, Others
United States government is reportedly considering imposing a visa ban or financial sanctions against Mrs. Diezani Alison-Madueke, ex-petroleum minister, and a dozen of her associates, government officials in the oil and gas sector and politicians.
Quoting US officials, The Wall Street Journal (WSJ) reported yesterday that Washington was scrutinising whether Alison-Madueke’s associates laundered money in the US, United Kingdom and other countries.
In the report, The Wall Street Journal said the UK and US have thrown their muscle behind Buhari’s bid to recover billions of dollars he alleges his compatriots embezzled and stashed abroad.
However, at stake is whether courtrooms thousands of miles from Africa can help the continent track down stolen money, seize it, try the culprits and return the funds in a timely fashion.
In May, Buhari became the first Nigerian to unseat an incumbent president, elected on his vow to recover a vast fortune of money lost to corruption. Within weeks, he was at the White House to ask for help.
“We’re all in,” replied Vice-President Joe Biden, said Garba Shehu, spokesman of the president.
When it comes to helping Africa’s top economy battle graft, this month has offered the first glimpse of how fast and far Buhari’s friends abroad can move.
According to WSJ, in the past, Western governments have acted on similar pleas from other African states—but this time, they have operated with unprecedented nimbleness.
Following a summer meeting in Washington between British and American investigators, London police on October 2 raided a luxurious home near Regent’s Park. There they briefly detained Alison-Madueke, oil minister from 2010 to 2015.
Hours later, her neighbours in Nigeria watched as scores of cops searched her house: “The former minister has questions to answer,” said Bitrus Babuje, a fellow resident of the leafy Abuja suburb called Asokoro.
One of Africa’s most prominent politicians, Alison-Madueke and her associates are suspected of bribery, corruption and laundering money through British and US banks. She has previously denied those allegations and police haven’t charged her with anything.
A lawyer speaking on her behalf, Oscar Onwudiwe, said she was invited by the police in London this month but not arrested. He said he didn’t know the purpose of the invitation. “If the police come to your house for any reason, does it make you a criminal?” he told WSJ.
For the federal government, the detention announces Buhari’s intent to root out endemic corruption, a promise at the core of his campaign. Eventually, the crackdown could help recover the much-needed funds for an exchequer hit hard by collapsing oil prices.
“Most of the money taken out of Nigeria is taken to the West,” said Femi Adesina, a spokesman for Buhari. “So Nigeria will need collaboration with the West.”
Nigeria isn’t the first African country to find its officials investigated abroad for financial crimes. But the current flurry of legal action seems unique for its speed and scope. Buhari is president of Africa’s most populous state—and he has leveraged that position to steer a global hunt for laundered money.
Anticorruption investigators in Nigeria have arrested three directors at the state oil company – Nigerian National Petroleum Corporation (NNPC) – in recent days, said two people close to the administration. None were charged; the oil company says it is eager to expose corrupt employees.
American officials have also considered a visa ban or financial sanctions against Alison-Madueke and a dozen of her associates, oil officials and politicians, US officials said. Washington is scrutinising whether her associates laundered money in the US, the UK and other countries, the officials said.
Both the US State Department and the UK’s National Crime Agency (NCA) declined to comment on their investigations: “We continue to work with Nigeria to fight corruption,” a State Department official said.
Together, the litany of legal actions—conducted on three continents— point to a swift but uncertain precedent for Africa’s struggle against corruption.
“The real issue is the signalling effect: that holding public office in Nigeria should not be a licence to plunder,” said Bismarck Rewane, Managing Director of Lagos research firm Financial Derivatives Company. “It’s working. The number of bribes I’m being asked for has dropped.”
For the better part of a decade, graft fighters in Africa, having lost faith in their own courts, have asked judges in Europe and America to wage their battles.
Major political figures in Gabon, Equatorial Guinea, and Republic of Congo have all seen their assets frozen or targeted by French or American courts.
But those investigations have proceeded slowly. In some cases, they have stalled. Prosecutors have struggled to prove that cars, houses, and artwork there were purchased with money stolen thousands of miles away.
For now, a civil court in West London has frozen £27,000 ($41,400) confiscated by the police from Alison-Madueke, said a clerk at the court. Police also seized £5,000 and $2,000 from her mother, court clerks added. The small amount is the first publicly recorded evidence that legal action has been taken against the former minister and her family.
Buhari has also been in London lately: He met with Prime Minister David Cameron at his Downing Street office in May.
On the flight there, he sat in British Airways’ first class—just a few rows in front of Alison-Madueke—said two people familiar with the matter. The president-elect at the time refused to speak to her, they said, for the entire six-hour flight.
Africa Prudential Plc has reaffirmed its commitment to sustainable growth and digital transformation after posting another strong half-year financial performance, driven by robust growth in its core registrar business, technology-driven solutions and increased activity in Nigeria’s capital market.
Speaking during the company’s H1 2026 Investor Call on Tuesday, the management outlined plans to deepen revenue diversification and accelerate innovation as part of efforts to reduce reliance on interest income and strengthen long-term profitability.
The company reported gross earnings of ₦4.28 billion for the first half of 2026, representing a 27 per cent increase from ₦3.34 billion recorded in the corresponding period of 2025.
Profit before tax rose by 22 per cent to ₦2.41 billion, while profit after tax climbed 18 per cent to ₦1.59 billion.
Net operating income also increased by 27 per cent to ₦4.21 billion, while total assets grew by 13 per cent to ₦46.53 billion. Shareholders’ funds similarly rose by 13 per cent to ₦12.52 billion.
According to the company, the impressive performance was driven by sustained growth in its registrar business, increased corporate actions across the Nigerian capital market, stronger treasury earnings supported by the prevailing interest rate environment and rising adoption of its technology-enabled products and services.African Mineral Wealth
Managing Director and Chief Executive Officer, Dr. Catherine Nwosu, said Africa Prudential is steadily evolving from a traditional share registrar into a diversified technology and business solutions provider serving the broader capital market ecosystem.
Addressing concerns from investors about the sustainability of earnings if interest rates decline, Nwosu said the company was deliberately expanding its non-interest income sources.
“Interest rates influence our treasury income positively, but that is why we are deliberately diversifying our revenue streams. Our strategy is to grow recurring fee-based business lines such as our digital solutions, Know Your Customer (KYC) services, AGM technology, probate services and the SabiVest mobile app. Over time, this will reduce our reliance on interest income and create a more balanced and resilient earnings mix,” she said.
She noted that increasing activity in the Nigerian capital market presents fresh opportunities for technology-driven solutions.
“With capital market activity nearly doubling over the past year, demand for seamless digital investor experiences, improved market efficiency and stronger compliance standards continues to grow. We are investing in technology-enabled solutions that position us to capitalise on these opportunities while delivering sustainable value to our shareholders,” she added.
Looking ahead, the company identified five strategic priorities for the second half of 2026, including driving sustainable growth through its core registrar business and new revenue streams, accelerating technology-led product innovation, strengthening brand leadership, investing in talent development and reinforcing corporate governance.
The investor call attracted institutional investors, shareholders, analysts, regulators and other capital market stakeholders, reflecting strong interest in Africa Prudential’s earnings outlook, revenue diversification strategy and long-term growth plans.
News
IHS Nigeria Donates Business-Support Equipment to Empower People with Disabilities in Abuja Community
Communications infrastructure company, IHS Nigeria, has donated business support equipment to empower people with disabilities within the Karonmajiji community in the Federal Capital Territory, Abuja. This is part of the company’s commitment to drive inclusive community development and sustainable livelihood support under its Project Empower initiative.
The equipment was distributed to beneficiaries during a ceremony held in the community on Monday, July 27. The initiative was conceived following a community needs assessment and is designed to empower active traders by providing them with business tools rather than cash grants, thereby strengthening their businesses and ensuring long-term economic impact and accountability.
Speaking at the event, Director, Sustainability, IHS Nigeria, Titilope Oguntuga, described the initiative as a reflection of the company’s commitment to advancing inclusive development by equipping persons with disabilities with the tools and opportunities needed to build resilient livelihoods.
She explained that rather than providing short-term financial assistance, IHS Nigeria adopted an asset-based approach by donating 50 pieces of business support equipment, including sewing machines, freezers, generators and hairdressing kits, to the selected beneficiaries.
According to her, the intervention is designed to create lasting value by supporting entrepreneurship, promoting self-reliance and strengthening household incomes, while contributing to the achievement of the United Nations Sustainable Development Goals, particularly SDG 1 (No Poverty), SDG 8 (Decent Work and Economic Growth) and SDG 10 (Reduced Inequalities).
In his opening remarks, the Chief of the Karonmajiji Disabled Community, Alhaji Sulaiman Muhammed Katsina, represented by the Secretary of the Community, Alhaji Mohammed Dantani commended IHS Nigeria for its commitment to empowering persons with disabilities through practical and sustainable interventions.
He described the initiative as a demonstration of genuine partnership with the community and expressed appreciation for the company’s continued engagement with the Association, noting that the donation of the equipment was a significant investment in improving the livelihoods of persons with disabilities and would create meaningful economic opportunities for the beneficiaries and their families.
The event brought together traditional rulers, government representatives, leaders and members of the Karonmajiji Disabled Community Association, implementing partners, including Field of Skills and Dreams Vocational Technical and Entrepreneurship (FSD VTE) Training Institute and other community stakeholders, reaffirming a shared commitment to promoting inclusion and sustainable community development.
Project Empower reinforces IHS Nigeria’s commitment to advancing sustainable development through strategic partnerships that promote economic inclusion, strengthen community resilience and create opportunities for underserved communities.
The Chartered Institute of Bankers (CIBN) and the Association of Corporate Communication and Marketing Professionals in Banks (ACAMB) have enjoined banks to further deepen and prioritize financial inclusion, women’s empowerment and sustained growth through strategic mandates and frameworks, aimed at closing the financial gap and empowering more small, and medium enterprise (MSME) owners.
Both organisations made this call during a courtesy visit to the newly invested 24th President and Chairman of Council of the Chartered Institute of Bankers of Nigeria (CIBN), Dr. Dele Alabi, Ph.D, FCIB, as part of plans to congratulate him on his investiture as well as seek a stronger alliance between both bodies.
The visit followed Alabi’s investiture where he unveiled his “IMPACT” Vision, themed “Consolidating Our Local Impact, Enhancing Our Global Relevance.”
The vision rests on six pillars: Inclusion across geographic, gender, and generational lines; Membership growth and quality; Professionalism and ethics; Accountability; Competencies and skills development; Technology, automation, and innovation. Other areas of shared interest, include women empowerment, financial inclusion and literacy, as well as MSME clinics, all of which are top on his agenda.
Alabi explained that under him, the institute will be prioritising financial inclusion and women empowerment, because of its realisation that women are often the primary financial managers and caregivers in families. Access to savings, micro-credit, and insurance acts as a safety net during crisis and allows them to significantly improve living conditions.
He added that CIBN would be happy to drive joint knowledge sharing and exchange sessions with CBN and ACAMB across various platforms. “Educating the public through public awareness programmes, with ACAMB as the rallying point, is central to what we do,” he noted.
ACAMB President, Jide Sipe, who led the delegation, spoke in unison with the CIBN president, as he noted that, closing the inbalances in financial access help economies grow faster, reduces inequality, and encourages greater civic participation by all.
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