Author: The Nation

  • Foundation empowers young entrepreneurs

    Foundation empowers young entrepreneurs

    • By Aishat Ahmed

    The MajmolQueen Foundation, a humanitarian initiative founded by Hajia Majeedah Ashimi Idris, has empowered young entrepreneurs.

    The beneficiaries went home with cash grants, equipment, and vital business knowledge to help them grow sustainable livelihoods.

    The empowerment programme, which benefited over 20 small business owners, took place at Crescent Schools, 1004 Estate, Victoria Island, Lagos.

    It featured the disbursement of grants and tools worth millions of naira, alongside a business seminar focused on ethical entrepreneurship and access to interest-free funding.

    Hajia Ashimi Idris, a registered nurse, philanthropist, and an author of Towards A Successful Marriage, is based in the United States but continues to give back to the Nigerian society through her foundation.

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    Representing the founder, the Ashimi family was led by Alhaji Tajudeen Olubunmi Ashimi, who praised his daughter’s compassion and commitment to uplifting underprivileged individuals. He described the foundation’s empowerment initiative as a rare act of kindness that should be emulated by government and private organisations.

    He recounted the founder’s long-standing generosity and strong family values, noting that she has always supported relatives and others morally and financially. He urged beneficiaries to use the support judiciously and invest it meaningfully in their businesses.

    Ustadh Aleem Farouk, popularly known as Al-Egbawi, alongside Dr Lukman Lanre Seriki, an auditor with Alternative Bank, provided practical and ethical guidance on building sustainable businesses.

    Dr Seriki spoke extensively on business discipline, character, and trust, stressing that these values are crucial for accessing informal and interest-free funding from friends, family, and suppliers. He warned against misusing business capital, describing diversion of funds as a major risk that can destroy credibility.

    He further explained that startup capital differs across ventures, noting that while some businesses require substantial investment, others can begin with minimal funds, skills, and basic tools, especially when run from home.

    Ustadh Al-Egbawi emphasised Islamic ethics in business, reminding participants that Islam encourages trade but strictly forbids dishonesty, deception, and interest-based transactions. He warned against misrepresentation of goods, sale of faulty products, and hiding defects from buyers.

    He also cautioned Muslim entrepreneurs against neglecting their religious obligations for business pursuits, stressing that honesty, transparency, and trustworthiness attract Allah’s blessings.

  • Local government autonomy critical to national development

    Local government autonomy critical to national development

    “When you are in local government, you are on the ground, and you are looking into the eyes and hearts of the people you are there to serve.” – Valerie Jarrett, a former Senior Advisor to former President of the United States, Barack Obama

    About two weeks ago, on the 18h of December. 2025, during the15th National Executive Committee meeting of the All Progressives Congress, held at the State House Conference Centre, Abuja; President Bola Ahmed Tinubu reiterated his commitment to ensuring that the Supreme Court’s judgment affirming the financial independence of local governments is implemented.

    Mr. President, stated that the failure of the governors to fully comply with the Supreme Court’s judgment may force him to take other executive decisions.

    I commend and support Mr. President’s position on the autonomy of the 774 local government in Nigeria, and decisions he will take in this regard. It is trite in law, that local governments are Should be funded directly from the Federation Account. But for over 40 years since the second republic, Governors have been taking the funding allocations on behalf of the local government administrations in violation of Section 7 and other relevant sections of the 1999 Constitution as amended. By approaching the Supreme Court last year and securing the judgment in favor of local government autonomy which is an affirmation of Section 7 and other relevant sections of the 1999 Constitution as ammended, surely, Mr. President has cleared clear the way for accelerated growth and development and the grassroots of Nigeria.

    It is worthy of  note that President Tinubu is living up to his campaign promises as outlined in his Renewed Hope campaign Manifesto build-up to the 2023 presidential elections. In Page 69 of the manifesto, Mr. President promised to, “Embark on a review of the federation revenue allocation system to recalibrate the division of funds amongst the three tiers of Government: Federal, State and Local. More funds should be allocated to the States and Local Governments so that they can better address local concerns and fulfill their expanded constitutional obligations to the people……. This promotes stronger governance at the state and local levels, thus reducing political congestion and competition for resources at the federal level. The performance of federal, state, and local governments shall improve while the people will benefit by having more political democracy and economic development more closely at hand.”

    Taking Development closer to the people:

    It is worthy of note that according to the Revenue Mobilization Allocation and Fiscal Commission (RMAFC), the current revenue-sharing formula is as follows: The Federal Government takes 52.68 % of the revenue share, states get 26.72 %, while local governments get 20.6 %. So far, Governors have taken 46.78%, i.e. 26.72% + 20.6% – with no commensurate tangible impacts to show for the masses of Nigeria, i.e. the grassroots.

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     A very worrisome situation in Nigeria is the lack of deepening commitments and impacts at grassroots levels where the majority of Nigerians reside and live. The acceleration of the provision of basic infrastructure like pipe-borne water, basic roads, waterways, culverts, health care facilities, agriculture support systems and investments, etc. have eluded our people at the local governments and hinterlands due to a lack of direct funding to our local governments. Therefore, we must ensure effective financial and operational autonomy at our local government levels, going forward.

    A good example of the importance of the role of local governments is that local governments remain the critical platforms for our Agricultural value chain and its socio-economic contributions. There is currently no active development process flow between the Federal Government interventions and direct local government initiatives. 

    I am very glad to hear that the perennial issue of undercutting or stifling the cash flow of local government administrations in Nigeria will come to an end soonest. Because this has been one of the key banes of the progress of this Country. For over 40 years, the State Governors have been holding the local government administrations hostage, and rendering them at the beck and call of the Governors. Suffice it to say that the refusal of successive state administrations  is a testament to the hypocrisy of our expectations as a nation.

    The sustained choke-hold of the Local Governments of the Federal Republic of Nigeria by State Governors is not just for the control of the financial inflows of the Local Government Areas (LGAs), but also to ensure continuous political control of the local government areas to perpetuate their control of the political structures of the local government areas for political supremacy, while and after leaving office as governors. The choke-holds on the LGAs have further stunted the growth of local government areas across Nigeria, and more importantly blocked the delivery of good governance. Over time, the local government administrations have become voiceless, powerless, and almost useless. The local government management and operations have been almost comatose, and therefore, they have not been able to add tangible values to the growth and development of Nigeria. The LGAs are mere appendages of the State Governors, while their offices are more or less liaison offices of the Governors. That is why the local government chairmen/ sole administrators sit out their tenures without making any impacts on the communities. 

    Due to the aforementioned reasons, there is so much opaqueness in the administration of local government administrations in Nigeria. Most of the local government chairmen also end up helping themselves from the remnant of funds credited to the coffers of the local government – that is what bad leadership at the top does – i.e., “when the head is rotten the body subsequently rots away. In the end, the citizens of Nigeria are systematically and consistently short-changed. Consequently, year-on-year we do not see any serious developments taking place at local government levels; rather, what we see are multi-dimensional retrogression and poverty. 

    Indeed, a visit to local government headquarters around Nigeria will evidence how bad things are; the offices are shadows of themselves, the operations are comatose and there are basically no structures for people to lean unto in demanding the delivery of good governance.  Therefore, I am very happy to hear that President Bola Ahmed Tinubu is ready to deliver one of his campaign promises to ensure that local governments do not just get autonomy on paper, but that the autonomy is actualized and made fully operational.

     Furthermore, one of the key reasons why we do not witness major and tangible developments at state levels is because the inactivates at local governments are due to undue interference by the state Governors to the extent that, it is only the local governments that are of interest to the Governors that experience of measure of development. 

    It is an established fact that “politics is local”. That is why everywhere democracy has thrived, and everywhere leadership has been effective and impactful; it is because the local governments are autonomous and fully operational – across the three arms of government at that level, i.e. Executive, Legislature, and Judiciary. It is because politics is local that is why LGAs are where the votes are garnered to ultimately achieve political success. Accordingly, the grassroots should not be abandoned after campaigns and elections. The people at grassroots levels MUST be catered for, if we want this Country to make any form of progress. The only way growth and socio-economic development can be achieved at grassroots levels is to eliminate poverty and strife by fully operationalizing the independence of local government. 

    Sadly, most of the projects we witness at state levels are around the State capitals with a lot of “white elephant” projects situated at the local government levels. This is why most of the Councillors are not making impacts, but basically exist by titles they hold and by the little “change” and “crumbs” they pick out of whatever remains from the “financial leftovers” that trickle to their pockets from the coffers of the local government administration.

    It is important to note that, just operationalizing the local government administrations and giving them full autonomy will not enough to ensure the delivery of good governance at the grassroots level. Citizens should also actively demand for good governance from Governors and local government administrations – to put the local government chairmen on their toes so that they do not feel entitled and take things for granted.

     Nigerians look forward to a fully autonomous, and functional local al government administrations in line with the provisions in the 1999 Constitution, of the Federal Republic of Nigeria, and ensuring that the local government administrations are rescued from the stranglehold of the State Governors of Nigeria. I am very hopeful that when that is done, we will witness better performance of President Tinubu’a and subsequent administration, while as citizens we will directly hold the local government administrations to account.

  • Ebo Noah and deluge deferred

    Ebo Noah and deluge deferred

    Doomsday prophets seem never to tire, and they do not get dissuaded by serial failure of past predictions. The shocking thing is that they also seem to never lack gullible people who believe in their crackbrained predictions, no matter how improbable such prediction might seem to commonsense.

    The latest instance is a self-proclaimed Ghanaian prophet, labelling himself ‘Ebo Noah’ who predicted that the world would end through flooding on 25th December, 2025, and that only those who get on arks that God asked him to build would be saved. Only that he came up on the eve of the predicted doomsday to say the disaster had been postponed following what he described as divine intervention. He informed his followers the catastrophic flood would not occur on the day originally predicted after thousands from Ghana and elsewhere had traveled to the ark sites, preparing to board the vessels ahead of Christmas Day. Videos circulated online showed crowds gathering near the wooden structures in anticipation of the predicted event.

    Recent rainfall in Ghana intensified fears, with people taking the prophecy seriously enough to make preparations. When skeptics cited the biblical covenant in Genesis where God promised never again to destroy the earth with floods, Ebo Noah rejoined that even God can change His mind – referencing the account of King Hezekiah.

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    The 30-year-old first gained international attention in August when he began posting videos on social media showing himself constructing wooden arks and warning that God revealed to him there will be a three-year period of rain beginning on Christmas Day. He claimed flooding would devastate the earth like in the biblical days of Noah, and only those who get on any of his arks would be saved. Reports said Ebo Noah had built about ten wooden arks as at Christmas Day, though the exact number varied in different accounts. The vessels, built with the help of local fishermen, were significantly smaller than the biblical Ark of Noah and critics questioned whether they were genuine arks or adapted fishing boats.

    Ghanaian authorities arrested Ebo Noah earlier in December over concerns that his statements were causing public panic, particularly among residents living abroad. He was detained for 72 hours before being released, because officials determined that making religious prophecies does not constitute a criminal offence under Ghanaian law. Meanwhile, there were indications Ebo Noah profited from his enterprise. Days before Christmas, he appeared publicly in a newly acquired Mercedes-Benz while wearing his trademark burlap costume. He shared a message stating he had fasted for three weeks and prayed for Ghana and the world.

    In the latest video message, Ebo Noah said he received a fresh vision showing large numbers of people gathering to enter his arks, which are not enough to accommodate everyone. Thus, he had consulted with other religious leaders for intercessory prayers and God had granted additional time to construct more vessels.

    Some swindlers do have ‘em!

  • Fire razes 10 shops at Oshodi’s Arena market 

    Fire razes 10 shops at Oshodi’s Arena market 

    A fire outbreak on Tuesday evening gutted a section of the popular Arena Market in Bolade, Oshodi, Lagos State and destroyed about 10 shops.

    The Lagos State Fire and Rescue Service confirmed the incident in a statement issued by its Controller General, Mrs Margaret Adeseye.

    According to the statement, the Service received a distress call at about 5:50 p.m. reporting a fire outbreak at the market, prompting the immediate deployment of firefighting units. 

    Read Also: From toxin to treasure: Nigeria’s quiet scorpion venom gold rush

    The responders arrived at the scene within five minutes, at approximately 5:55 p.m.

    Adeseye said the fire affected a section of the market comprising five 40-foot container shops arranged in two rows, bringing the total number of affected shops to 10.

    She explained that the shops were mainly used for the storage and sale of clothing materials, which were stocked in bales. She added that the swift intervention of firefighters ensured the blaze was contained and prevented from spreading to other parts of the market.

    “The situation is firmly under control, and there is no risk of the fire spreading to other parts of the market,” the statement said.

    Adeseye assured members of the public that all necessary measures had been taken to protect lives and property, adding that an investigation would be conducted to determine the cause of the fire, with further updates to be provided as required.

  • From toxin to treasure: Nigeria’s quiet scorpion venom gold rush

    From toxin to treasure: Nigeria’s quiet scorpion venom gold rush

    As scorpions continue to produce drops of liquid venom valued at around $39 million per gallon, they offer a compelling reminder that innovation often lies in overlooked places waiting to be unlocked. Medical experts say the venom can be used to treat many illnesses and could also contribute significantly to the economy. UDEH ONYEBUCHI reports.

    A thin glass capillary fills slowly with a clear droplet.

    Under laboratory light, it looks ordinary until its value is calculated.

    Less than a millilitre of scorpion venom has just been extracted in a quiet laboratory in Isolo, Lagos.

    On the global biomedical market, liquids like this rank among the most expensive substances on earth.

    Industry estimates compiled by international toxin trade platforms and pharmaceutical procurement reports, including those cited by global digital news organisation Business Insider in an interview with Venomtech CEO Steve Trim, place purified scorpion venom at up to $39 million per gallon, depending on species and peptide concentration.

    Behind the glass enclosure, the scorpion curls back into stillness, alive and unharmed. Around it, thousands more wait – biological assets in an industry Nigeria has barely begun to notice.

    This is not a scene from science fiction. It is the daily reality inside one of the country’s most unconventional biomedical ventures, where fearsome creatures are quietly being transformed into export-grade research materials with implications far beyond a single laboratory.

    At the centre of it all is Muhammad Usman, a retired Nigerian Air Force corporal turned pioneer of commercial scorpion farming—an enterprise sitting at the intersection of agriculture, medicine and global science markets.

    From combat zones to controlled laboratories

    Usman’s journey into venom science did not begin in a laboratory. It began in uniform.

    He joined the Nigerian Air Force in 2013 and served during intense internal security operations across northern Nigeria, participating in missions such as Operation Safe Haven, Operation Harbin Kunama and Operation MESA.

    The experience, he says, shaped both his discipline and patience, qualities that would later prove essential.

    When he retired from active service in December 2014, few imagined that his next mission would involve breeding scorpions.

    Yet the transition, while unexpected, was not accidental.

    “The Air Force teaches structure, precision and emotional control. Those things stay with you,” he said.

    The moment curiosity took hold

    The “Scorpion Doctor,” as he is now known, explained that the idea emerged during a quiet moment on sentry duty.

    Scrolling through his phone, Usman came across an article describing commercial scorpion farming in Morocco, where venom extraction had been systematised for pharmaceutical export.

    “It immediately caught my attention, not because it was strange, but because it was structured,” he said.

    Instead of dismissing it as impractical, Usman began researching obsessively, studying scorpion biology, venom chemistry, extraction techniques and international demand.

    He started small, keeping fewer than ten scorpions at home to observe their behaviour and survival needs.

    Those early experiments delivered a reality check: scorpion farming was slow, capital-intensive and unforgiving of mistakes.

    Balancing military responsibilities with experimental farming soon became impossible.

    Usman sought partners and investors, openly outlining the risks, long gestation period and delayed profitability.

    “This is not quick money. You must understand the waiting,” he warned potential entrepreneurs.

    Fear, myth and biological reality

    In popular imagination, scorpions are symbols of danger. In Usman’s laboratory, they are treated with studied calm.

    “Scorpions are defensive, not aggressive. They sting only when they feel threatened,” he explained.

    Years of observation have allowed him to handle them with confidence, understanding stress triggers and environmental needs.

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    That knowledge is essential because stress directly affects venom quality.

    Scorpion farming remains exceedingly rare in Nigeria.

    According to Usman, his facility in Isolo is currently the only fully operational commercial scorpion farm in the country, although he also trains interested individuals under strict guidelines.

    High capital, higher precision

    The economics of scorpion farming quickly dispel any illusion of simplicity.

    Usman noted that scorpions are sourced from forest hunters at an average cost of N5,000 each, and that the Isolo facility houses over 10,000 scorpions.

    He said more than 600 transparent enclosures, costing about N3,000 each, are used to isolate and monitor individual animals.

    He also explained that venom storage requires biomedical-grade freezers, some costing up to N6 million, to preserve peptide stability for export.

    Recreating nature indoors

    In the wild, Usman explained, scorpions can live up to eight years. But in captivity, their lifespan often drops unless conditions are carefully replicated.

    He said each enclosure contains water sources, tree stems and textured surfaces designed to mimic forest habitats.

    Even with these measures, Usman estimates a controlled lifespan of about five years.

    Feeding presents another challenge

    He emphasised that scorpions consume live prey, including cockroaches, snails and especially mealworms, which are difficult to source locally.

    Substitutes such as black soldier fly larvae, he said, do not work.

    “Mealworms are not widely farmed in Nigeria, and scorpions cannot survive on substitutes like black soldier fly larvae,” he said.

    Usman believes this gap presents a  new business opportunity within the agricultural value chain.

    “If you go to Dubai, Malaysia and Pakistan, they have people into mealworm farming and cockroach breeding who earn a lot of money from the business,” he said.

    Harvesting without killing

    He also noted that venom extraction is neither frequent nor forceful.

    Using low-voltage electrostimulation, tweezers and tongs, Usman and his team extract venom from roughly 1,000 scorpions per day, yielding only nine to ten millilitres in total.

    Each scorpion is rested for seven to ten days between extractions to minimise stress.

    Contrary to popular belief, he said the scorpions survive the process.

    “Killing them would destroy the sustainability of the operation. There are methods to extract venom without causing harm. However, regular extraction places stress on them and can affect reproduction,” he said.

    Explaining the method, he said that once stimulated, the scorpion releases venom naturally and is returned to its enclosure to recover.

    Evolutionary biologist Dr. Arie van der Meijden of the CIBIO-InBIO Institute in Portugal confirmed this in comments to IFLScience, explaining that the extraction does not harm the animal and that scorpions resume normal activities, including feeding, almost immediately.

    The venom is collected, sealed and immediately frozen for preservation before export under strict agreements to pharmaceutical firms and research institutions.

    Why a clear liquid is worth millions

    Usman explained that not all scorpions are equal.

    Certain species, including the Emperor scorpion, are prized for their higher venom yield and peptide diversity.

    Once purified, he noted, the venom becomes raw material for advanced biomedical research.

    Usman said global demand continues to rise, with prices ranging from $7,000 to $9,000 per litre, while a gallon can cost as much as $39 million.

    “The global market for scorpion venom is growing rapidly. This is not something you can just sell casually,” he said.

    “Go online and you will see different sources showing that one gallon of scorpion venom can cost up to $39 million. When converted to naira, the worth is extraordinary.”

    International toxin trade databases and pharmaceutical sourcing reports corroborate these figures, noting that premium species command even higher prices.

    Dr. van der Meijden also explained that while venom can sell for hundreds of dollars per microgram, laboratories typically require only very small quantities for years of research.

    “It’s very expensive to buy, and the venom has to be extremely high quality. Refining it to isolate specific components is even more costly,” she said.

    Medicine, not myth

    The President of the Association of Medical Laboratory Scientists of Nigeria (AMLSN), Dr. Casmir Ifeanyi, explained that scorpion venom is a complex mixture of bioactive peptides capable of interacting with human cells in highly specific ways.

    “These peptides can distinguish cancer cells from normal cells,” he said, making them valuable for tumour imaging, targeted therapy and experimental drug development.

    He added that international studies have already applied venom-derived compounds in brain tumour surgeries, helping surgeons identify tumour margins more precisely.

    Other research explores applications in epilepsy, Parkinson’s disease, autoimmune disorders, cardiovascular conditions and drug-resistant infections.

    Recent studies in Mexico and the United States have identified new antimicrobial compounds from scorpion venom with activity against tuberculosis and Staphylococcus.

    According to a Stanford News report, scorpion venom expert Prof. Lourival Possani of the National Autonomous University of Mexico, who has spent 45 years collecting and analysing venom compounds, said some species are difficult to access.

    “Venom from the eastern Mexican scorpion species Diplocentrus melici is hard to come by. During winter and dry seasons, the scorpion is buried. We can only find it in the rainy season,” he said.

    Nigeria’s missed advantage

    Dr. Ifeanyi emphasised that despite abundant scorpion species, Nigeria remains largely absent from the global venom-based research economy.

    He lamented that most extraction efforts are private, small-scale and focused on exporting raw materials without value addition.

    “We produce papers, not products. Research that does not translate into therapy or industry is wasted effort,” he said.

    He called for government-backed applied research, stronger regulation and institutional support under the Ministry of Science and Innovation to develop a local biopharmaceutical pipeline.

    Beyond economics, he warned of ecological consequences.

    Scorpions, he said, play critical roles in soil aeration and pest control, and their decline, driven by herbicide use and habitat loss, disrupts local ecosystems.

    Returning to the droplet

    Back in the Isolo laboratory, the glass capillary is sealed and labelled. Another extraction cycle is complete.

    The scorpion retreats into its enclosure. The droplet will travel first into cold storage, then across borders, and eventually into laboratories where it may help map tumours or fight resistant infections.

    For Nigeria, questions linger: will this remain a curiosity driven by a handful of disciplined pioneers, or become a deliberate national industry?

  • Alleged N8.7b fraud: Malami, son remanded in prison till Fri

    Alleged N8.7b fraud: Malami, son remanded in prison till Fri

    Immediate-past Attorney-General of the Federation (AGF) Abubakar Malami (SAN), his son Abubakar Abdulaziz  and Hajia Bashir Asabe were yesterday remanded in Kuje Prison, Abuja.

    They are to remain in the facility until Januray 2, 2006 on the order of a Federal High Court sitting in the Federal Capital Territory (FCT).

    Hajia Asabe is said to be an employee of Rahamaniyya Properties Limited, a firm allegedly linked to the former Justice minister.

    Justice Emeka Nwite, who handed out the order in a ruling on yesterday, said the trio should remain in prison until January 2 when their bail application would be heard and determined.

    The Judge, in the ruling on an oral bail application made by defence lawyer, Joseph Daudu, (SAN), said it would serve the interest of justice and fair hearing to allow the prosecution to respond to the formal bail application earlier filed by the defendants

    The judge said: “I have listened to the submissions of the learner counsel for both divide and also gone through the relevant laws. It is not in dispute that an application for bail has been filed by the defendants.

    “It is also not in dispute that the bail application has been served on the prosecution. It is not in dispute that the application cannot be withdrawn by the defendants.”

    Justice Nwite said although the court could exercise its power by granting bail, the exercise of such power would be possible after the prosecution has responded to the bail application filed by the defence.

    He noted that it would amount to an ambush for the court to grant the bail application while the prosecution was yet to file a response to the bail application by the defence.

    Read Also: JUST IN: Ex-AGF Malami, others appear in Abuja court over Alleged N8.7bn fraud

    The Judge said: “This will breach the right to fair hearing against the prosecution. I am of the view that the interest of justice will be met by allowing the prosecution to respond to the bail application filed.

    Earlier in the proceedings, the three defendants were arraigned on a 16-count money laundering charge brought against them by the Economic and Financial Crimes Commission (EFCC).

    The EFCC is among others, claiming that Malami and his two co-defendants conspired to disguise the origin of funds, acquire properties indirectly, and retain sums they allegedly knew were proceeds of unlawful activity, in violation of the Money Laundering (Prohibition and Prevention) Acts of 2011 (as amended) and 2022.

    The defendants pleaded not guilty to the charge, following which prosecuting lawyer, Ekele Iheanacho (SAN) applied for a date for the commencement of trial.

    Daudu told the court about his intention to apply for bail for the defendants.

    Responding, Iheanacho said he was yet to respond to the formal bail application filed by the defendants and applied for an adjournment to enable him respond to bail application.

    Iheanacho said: “In view of the non-guilty plea of the defendants, may we apply for a trial date for the defendants.

    “I know we received an application for bail and we will be seeking your lordship indulgence for a date to respond. We got the application yesterday around 3pm. We will be asking for a date to respond.”

    Daudu said even though a formal bail application had been filed by the defendant, he could equally make an orally application, citing a 1995 case involving Abiola Vs. Federal Republic of Nigeria.

    After listening to the lawyers to both sides, Justice Nwite suspended proceedings briefly, but returned later to deliver the ruling.

    In the charge, marked: FHC/ABJ/CR/700/2025 the EFCC alleged, in count one, that between July 2022 and June 2025, Malami and his son directed Metropolitan Auto Tech Limited to conceal over N1 billion (N1,014,848,500) in a Sterling Bank account, knowing the funds were proceeds of unlawful activity.

    Count two states that between September 2020 and February 2021, the duo allegedly concealed more than N600 million (N600, 013,460.40) through the same company.

    In count three, the commission alleged that in March 2021, Malami and his son retained N600 million as cash collateral for a N500 million bank loan to Rayhaan Hotels Ltd, despite knowing the funds were illicit.

    Count four alleges that in November 2022, Malami, his son and Mrs. Asabe disguised N500 million used to purchase a luxury duplex in Maitama, Abuja.

    In count five, the EFCC claimed that between November 2022 and September 2024, the trio conspired to conceal N1,049,173,926.13 paid through Meethaq Hotels Ltd’s account in a first generation bank.

    Count six states that between November 2022 and October 2025, Malami and his son allegedly took control of N1,362,887,872.96 from the same account, knowing it was illicit.

    Count seven alleges that in November–December 2018, Malami and Mrs. Asabe concealed N700 million used to purchase No. 3 Onitsha Crescent, Garki, Abuja (Hamonia Hotels Ltd).

    In count eight, between September and December 2020, the duo and Mrs. Asabe allegedly concealed N850 million to buy a property in Jabi District, Abuja (Meethaq Hotels Ltd).

    Count nine states that in February 2018, Malami and Hajia Bashir acquired No. 3 Rhine Street, Maitama, Abuja, for N430 million, allegedly from unlawful sources.

    In count 10, the pair allegedly concealed N210 million in February 2018 to purchase a property in Asokoro District, Abuja.

    Count 11 alleges that between March and June 2021, they concealed N325 million used to acquire No. 1241B Asokoro District, Abuja.

    In count 12, the EFCC stated that between November 2015 and January 2016, the duo concealed N120 million used to purchase No. 27 Efab Estate, Gwarimpa, Abuja.

    Count 13 alleges that in November 2022, Malami, his son, and Mrs Asabe conspired to hide funds used to acquire a luxury duplex at Amazon Street, Maitama, Abuja.

    In count 14, between December 2016 and April 2022, Malami, Mrs. Asabe, and others allegedly conspired to acquire additional properties for Mr. Malami with proceeds of unlawful activity.

    Count 15 states that between June 2023 and January 2023, Malami allegedly concealed N537 million used to purchase multiple properties across Abuja, Kebbi, and Kano.

    In count 16, the EFCC alleged that between October 2018 and December 2021, Malami concealed N415 million used to acquire several properties in Abuja, Kebbi, and Kano.

  • NUC approves degree programmes for Fortune varsity

    NUC approves degree programmes for Fortune varsity

    With the approval of the National Universities Commission (NUC), several undergraduate degree programmes are to kick-off at the University of Fortune, Igbotako, Ondo State, beginning from the 2025/2026 academic session.

    The approval was conveyed in a letter dated Monday and signed by the Acting Director of Academic Planning, Abubakar M. Girei, on behalf of the commission’s Executive Secretary, Prof. Abdullahi Yusufu Ribadu.

    According to the NUC, the institution met all requirements for the commencement of the programmes, with a total admission quota of 800 students approved.

    The letter reads: “I am directed to convey to the Director-General, the Executive Secretary’s approval for the establishment of the following programmes in University of Fortune, Igbotako, Ondo State, having satisfied the requirements for their establishment with effect from the 2025/2026 academic session, the admission quota is put at 800.”

    The approved programmes cut across four faculties – Science and Computing; Law; Basic Medical/Allied Health Sciences and Social/Management Sciences.

    Read Also: NUC gets €3m to commence ICT projects in 10 varsities

    Under the Faculty of Science and Computing are B.Sc. Information and Communication Technology, B.Sc. Computer Science, and B.Sc. Cyber Security.

    The Faculty of Law got approval to run the LL.B. Law programme, while the Faculty of Basic Medical and Allied Health Sciences, the approved programmes are B.Sc. Public Health, B.N.Sc Nursing Science, and B.Rad. Radiology.

    In the Faculty of Social and Management Sciences, the approved programmes include B.Sc. Accounting, B.Sc. Finance, B.Sc. Economics, B.Sc. International Relations, B.Sc. Criminology and Security Studies, B.Sc. Hospitality and Tourism Management, B.Sc. Project Management, B.Sc. Procurement Management, and B.Sc. Intelligence and Security Studies.

    The commission also requested the Joint Admissions and Matriculation Board (JAMB) to take note of the approved programmes for the purpose of students’ mobilisation.

    The NUC assured the varsity of its continued support as it expands its academic offerings in line with national standards.

  • Federal Govt reaffirms commitment to rule of law

    Federal Govt reaffirms commitment to rule of law

    The Federal Government has  dismissed the allegation of targeting opposition in its anti-graft war.

     The government has no plan to unlawfully arrest, detain, or prosecute opposition figures, Information  and National Orientation Minister Mohammed Idris clarified yesterday.

    This clarification, Idris said, was in response to what he called  a fabricated document in circulation alleging the establishment of a non-existent multi-agency task force for a purported programme tagged: “ADP4VIP” (Arrest, Detain, Prosecute for Very Important Persons).

    The minister said the ’baseless document’ falsely claims that a task force comprising the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC), and the Nigerian Financial Intelligence Unit (NFIU), coordinated by the Office of the National Security Adviser, aims to aggressively target prominent opposition figures without due process.

    He noted that the authors of the deliberate disinformation imprudently cite “multiple credible sources” to allege a planned “systematic weakening and neutralisation of opposition political activity,” particularly within the African Democratic Congress (ADC).

     The minister in a statement  said: “There is no such programme as “ADP4VIP.”

    He stated that the administration of President Bola Ahmed Tinubu “is firmly and successfully focused on its core agenda: implementing measurable economic reforms, defeating insecurity, expanding trade opportunities, and restoring investor confidence.”

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    He described as dangerous the attempt by opposition elements to so tag as political targeting a lawful call for accountability.

    He noted that their move is tantamount to shielding the so called Very Important Personalities from the law.

    “ The attempt by some opposition elements to frame lawful accountability as political targeting is a dangerous red herring designed to shield so-called VIPs from answering to our national laws and anti-corruption agencies.”

    He said the government will not be distracted by those invested in perpetual politicking; stressing that Nigerians deserve continuity, progress, and tangible results—and that is what the Tinubu administration remains dedicated to delivering.

    The minister stated: “The government underscores its foundational principles. Section 40 of the 1999 Constitution (as amended) guarantees every Nigerian the right to freely associate and assemble. President Tinubu swore an oath to uphold this Constitution and its protections, including the freedoms of association and religion. He is a democrat with considerable and positive footprints.

    “Under President Tinubu’s leadership, the Federal Government remains unwavering in its commitment to the rule of law, due process, and the independence of institutions. Nigeria is a constitutional democracy where law enforcement and judicial agencies are obligated to perform their duties professionally, without interference, and in the nation’s best interest.

    “Politicians and citizens are therefore enjoined to desist from engaging in disinformation, misinformation, and fake news, especially in an era where credibility is intrinsically linked to informational fidelity.

    “With the 2027 general elections on the horizon, the public should anticipate an increase in fabricated narratives and political blackmail by actors who employ falsehood as a strategy for relevance. We urge all Nigerians to remain vigilant and to reject the politics of distortion and division.”

    “Every Nigerian retains the constitutional right to lawful association and political activity. Concurrently, our security and anti-corruption institutions retain the lawful mandate to operate in the nation’s interest.

    “As we draw the curtain on 2025 and step into a new year, this government will not be distracted by those invested in perpetual politicking. Nigerians deserve continuity, progress, and tangible results—and that is what the Tinubu administration remains dedicated to delivering.”

  • CBN predicts 4.49% growth, 12.94% inflation next year

    CBN predicts 4.49% growth, 12.94% inflation next year

    Central Bank of Nigeria(CBN) has projected a 4.49 per cent economic growth and inflation easing to an average of 12.94 per cent next year.

    In its economic outlook yesterday, the CBN  said the growth and inflation easing will be driven by stable forex markets and rising oil output. 

    The forecast signals cautious optimism after two years of sweeping reforms by President Bola Tinubu’s government, with the bank betting on structural changes in oil, tax and foreign exchange markets to sustain growth and disinflation.

    In the outlook for next year, the apex bank projects stronger non-oil growth and sturdier external buffers even as fiscal deficits and external vulnerabilities linger.

    It said: “The growth prospect in 2026 is positive on account of continued gains from broad-based structural reforms… and improved stability in the exchange rate,” the central bank report said. Easing monetary policy would “add impetus to growth following the anticipated reduction in the cost of lending.”

    The CBN  kept its key rate at 27 per cent in November’s year-ending meeting, opting to let inflation cool further, but trimmed the deposit rate – a vote of confidence in the economy.

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    The move surprised economists, who had forecast a 100 basis-point cut after September’s first rate reduction since 2020.

    The bank expects headline inflation, which has averaged around 21.26 per cent this year, to plunge next year as easing food and fuel prices, coupled with forex stability, rein in cost pressures.

    Inflation slowed for the eighth straight month in November to 14.45 per cent.

    The outlook pegs oil, Nigeria’s key export, at $55 a barrel, an official rate near N1,400 per dollar, and oil output at around 1.50 million barrels per day. Fiscal spending is expected to stay expansionary, with a deficit of N12.14 trillion, or 3.01 per cent of GDP, funded largely through domestic borrowing, the report said.

    The bank sees external reserves climbing to $51.04  billion and a $18.81  billion current account surplus, buoyed by stronger oil and non-oil exports plus remittances.

    According to CBN Governor, Olayemi Cardoso, over the past 12 months, the country’s economy has transitioned from crisis management to laying the groundwork for a sustainable recovery.

    “After nearly a decade in which real GDP growth averaged about two per cent, reforms have restored momentum and confidence in our broad macroeconomic environment. Our economy grew by 4.23 per cent in the second quarter of 2025, the strongest pace in four years, driven by improvements in telecommunications, financial services, and oil production,” he said.

    “More importantly, in terms of long-term stability, inflation, while still high, has moderated consistently. From a peak of 34.6% in November 2024, it has more than halved to 16.05% in October 2025. This marks seven consecutive months of disinflation. Food inflation, the largest single component of the basket, fell to 13.12 per cent in October, down from 16.87 per cent in September and 21.87 per cent in August,” he said.

    This significant, steady decline in inflation is restoring real purchasing power for households and businesses. It also demonstrates disciplined execution and Nigeria’s return to orthodox monetary policy.

    “We continue with determination to bring inflation down further. The current double-digit rate cannot be acceptable. Price stability is the foundation of sustainable growth. Our transition to an inflation targeting framework is gaining traction. We have improved data analytics, strengthened communication, and ended monetary financing of fiscal deficits. These actions have strengthened monetary policy transmission and anchored expectations.

    “Our models project continued disinflation in 2026, helped by stronger domestic production, improved FX liquidity, and more disciplined liquidity management. As inflation moderates and becomes firmly anchored, we will calibrate the policy rate in line with evolving data.

    “Domestic and international observers alike have noted Nigeria’s “huge turnaround” in macroeconomic management. Our commitment remains clear: monetary policy will stay evidence-based, data-driven, and unwavering in its pursuit of price stability.”

  • Nigeria 3-1 Uganda: Three star Super Eagles  complete perfect group campaign

    Nigeria 3-1 Uganda: Three star Super Eagles  complete perfect group campaign

    A strike by Paul Onuachu and a brace by midfielder Raphael Onyedika lifted a remarkably different Nigeria team to a 3-1 win over Uganda in their final Group C encounter at the ongoing Africa Cup of Nations finals in Morocco.

    Onuachu, starting ahead of Akor Adams as Coach Eric Chelle made several changes to the squad that defeated Tanzania and Tunisia in their earlier games, connected perfectly with a pass from the left by Fisayo Dele-Bashiru in the 28th  minute to give Nigeria the lead, only two minutes after veteran goalkeeper Denis Onyango had stopped a point-blank effort by the Trabzonspor of Turkey forward.

    Before then, Nigeria had dominated play extensively, and as early as the 9th  minute, Samuel Chukwueze’s shot came off the defensive wall after good work by Simon Moses. A teasing pull-out by Chukwueze in the 25th  minute narrowly missed the head of Onuachu.

    Moses himself came close with four minutes left in the first period, as his shot came off the wall after the Eagles poured forward in numbers once more.

    In the second half, Rogers Mato came close to connecting with a good cross but missed. Nigeria regrouped and sustained the pressure on their opponents, who had won four of their previous eight encounters before Tuesday evening’s match in Fès.

    Wing-back Bruno Onyemaechi side-netted in the 51st  minute, and six minutes later, goalkeeper Salim Omar, who had come in for the injured Onyango, was red-carded after punching the ball outside his box as Victor Osimhen, Nigeria’s stand-in-captain, loomed towards goal.

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    Midfielder Raphael Onyedika, playing his first game at this AFCON, scored Nigeria’s second in the 62nd  minute after connecting well with a pass by Samuel Chukwueze. Chukwueze and Raphael recreated a similar process four minutes later, leading to Onyedika, who plays his club football in Belgium, scoring his second and Nigeria’s third.

    In the 70th  minute, Paul Onuachu’s header was a little too high, and five minutes later, Rogers Mato scored at the other end as Uganda finished well from a brilliant team move.

    Victory gave the Eagles the maximum nine points from their three matches, and they will now certainly meet the third-placed team in Group F, with both third-placed finishers in Groups A (Comoros) and B (Angola) already eliminated. This could be any of Cote d’Ivoire’s Elephants (Cup holders), Cameroon’s Indomitable Lions or the Mambas of Mozambique.

    That match comes up on Monday, 5Th  January in Fès. 

    Tanzania’s gutsy 1-1 draw with Tunisia saw the Taifa Stars reach the knockout stage for the first time in their history. They will play host nation Morocco in the Round of 16.